Episode 118 NEW! this thing, it's making me get an ice bath again. [5][6], Eisen serves on Room to Read's New York regional board.[7]. other people, i've just noticed a very interesting speech from a senior european official who was supposed to be in beijing today, but he has covid so his trip got canceled, there's quite a lot of european policymakers trying to distinguish themselves in terms of nuances about their role with china, which is, obviously, controversial when seen from a u.s. and a sort of historic ally perspective, but, frankly, i think it's the right thing for europe to try to do. An award-winning journalist and New York Times best-selling author, David Faber is a co-anchor of CNBC's "Squawk on the Street" (M-F, 9AM-12PM ET) and an anchor and co-producer of CNBC's acclaimed original documentaries and long-form programming. act, what are the expectations in terms of do we even know in terms of what they really expect to be able to accomplish >> well, we know there's $39 billion in these manufacturing incentives that's this first tranche. this won't do well at auction. let's get to a "mad dash" with jim as we count down to an opening bell you got a very short amount of time here, so squeeze it in. >> don't cry for me, softbank. she has no clue that i'm here. >> no. and the pressure's all on me. who are you? >> ge has $102 billion market value, but it trades at a huge multiple you know that, right >> it's going to do better next year so, the multiple is elusive and will turn out to be much lower and larry cole is doing it a lot of people -- >> 47 times. >> in the series, the guy who played jamie dimon looked exactly like jamie dimon, but i do not believe that jamie dimon brought the 1942, which is $300 a bottle >> yeah. Uploaded by but no, i mean, it is like when you get the box, like we're getting a box. big time. >> we're watching the trends the monthly trends on retail sales were down, department stores, general merchandise, electronics, furniture, the spot that were weak are weakening. i'm done unh. Someone should stop Jim embarrassing CNBC and his family!Please increase Bob Pisani part. who doesn't want internet that helps ai do your homework even faster? before investing carefully read and consider fund investment objectives, risks, charges, expenses, and more in prospectus at invesco.com. not as much turmoil, jim, as some expected. >> the counter argument to people like you say that we're going to have sticky inflation for a really long time, is that. Squawk Alley debuted in May 2014 as a. the cf. >> thanks, everyone. we saw a lot of people move their portfolios out of the smaller banks that had yields that were much lower into the larger banks as we saw today in some of the earnings and into the money market funds we've seen over $500 billion of money leaving the banking system into the capital markets that's one of the pervasive things i talked about today, i talked about in my ceo letter that we're seeing an acceleration moving out of the banking system into the capital markets. >> and so what we are seeing is, we're moving more and more supply chain here at what cost and i think this is, you know, much of this has to do with why i believe inflation is going to be higher. Sign up for free newsletters and get more CNBC delivered to your inbox. i don't think they want to get in the way of something that makes it so there's suddenly more scrutiny for them >> the conundrum for first republic -- and by the way, they did nothing wrong there. On April 1, 2013, Lee was removed from her anchoring duties on Squawk on the Street and continues on as anchor of Fast Money and Options Action. it's got the most sticky deposits >> people wonder about schwab in terms of what they're actually paying in a lot of those accounts >> absolutely, they're still worried. if you led your life the same after the pandemic as before, then you're like me, where my wife says, did you not realize what happened? the other things that he was talking about were -- >> although, the firm's macroeconomic scenarios and an increased probability of a recession due to tightening, financial conditions that's the reason, in terms of the provision for credit losses, $2.3 billion, they had $1.1 billion of chargeoffs, again, jpmorgan is what we're talking about here, and a reserve build of $1.1 billion, and the reason again was what they do cite as deterioration in the weighted average economic outlook, including updates to the firm's macroeconomic scenario >> wells is not as worried jpmorgan is a huge bank, and they're going to have some recognition. call 1-800 miracle now, and book your free hearing evaluation. ubs managing director of large cap banks and consumer banks erica najarian joins us. anyone can become an agent of innovation with invesco qqq, a fund that gives you access to nasdaq-100 innovations. you never want to strike, but these things are unpredictable you keep working until someone tells you you an't. >> it's inflationary but at the same time maybe it's good. [3] Evans officially left her anchoring duties to Closing Bell at the end of 2013 and was replaced by Sara Eisen, who was previously had a contributing role. >> take a look at futures this morning. then you started having impairment with some of these banks related to their held maturity account, precipitated a real reimagining of how you were going to imagine your portfolio. >> almost all the banks, by the way, just so people know, have a book value that is not nearly as high as their stock price. >> retail sales definitely in some sharp relief today. the municipalities won't let you build like they used to. First Aired: April 5th, 2023. Cast & Crew Shows like "Squawk on the Street" >> tony shalhoub we're so happy for all of you. now, david, the average loans, right in line there. and so, the narrative is more of a narrative, the reality is we're winning more share wallet than any company in the world right now. 2023 CNBC LLC. about 0.3 as well. >> these companies -- these countries don't have it as bad their economies are nowhere near. we know retail sales on the weak side, but despite that, rates moved higher business inventories for february up 0.2. we were expecting up 0.3 april preliminary will change mid-month, of course 63.5 much stronger than expected. we're looking for business inventories and university of michigan sentiment to hit at the top of the hour. >> i remember and i went back and looked just now, july of '21 when you came on and said that inflation was going to be more systemic, we were placing jobs over consumerism now that we keep hearing about we're importing in china, to the degree we're importing it all, or that a.i. Thrilled the segment is available in digital format/podcast when I cant get to the TV, If you have time for this, just skip all garbage and only listen to the part by Bob Pisani ! >> they managed to come public >> i'm sorry, they -- i don't know what they did, but they brought it public. >> lot of investment into japan these days thank you. are they different that you might see out of netflix or disney plus? those exposures will be in multiple parts of the economy. web pages multiple is going to be -- when you get rid of energy and when you offload energy and just look at ge aerospace, you're going to say, you know what this is the way to be in not raytheon we may, you know, ukraine, lot of people worry about air -- >> little more carl, this newfound love of ge from our friend here. >> it's been completely surreal. last five years we grew by $1.8 trillion in net inflows. and that's what makes it matter the most when they find it. rude. and/or restructure, i should say, a lot of these loans. that's the infrastructure bill, that's the chips act, and the irh. and i think you can do a quarter point. the only group actually atth's remaining positive in terms of sectors. Thats the best essence! Squawk on the Street New. uh, how long are you i'm done. >> jim, are people talking about macron's visit as a surprise or - >> sorry sorry. On February 27, 2023, Squawk on the Street once again expanded to three hours, with the third hour replacing the cancelled TechCheck. back to you. it cannot happen unless it's a fair and just transition and i never said anything but that even in my 2020 letter i do not believe in divestiture and i still -- and, you know, the left did not like what i had to say i believe you have to be continuing working with energy companies and we do. ai-enabled threat detection and remote management protect your endpoints 24/7, giving your defenses some real teeth. yes, indeed-us. >> jassy did not talk about the year of efficiency he's still in the year of living dangerously. we just got an order from dinosaur, colorado. you see it right there even with jamie dimon positioning the bank, it would seem, for higher and longer, he continues to -- he continues to say that rates, in his opinion, at least, will stay higher longer take a listen. bob iger says he's up for meeting florida governor desantis to hash out that ongoing feud about disney. Co-creators Amy Sherman-Palladino & Dan Palladino discuss the last season with @carlquintanilla and making @JeffBezos laugh. >> yes so look, i've never screamed when i've opened a bank presentation pdf and the outlook of -- for net interest rate income at jpmorgan at $81 billion was so far ahead of consensus and so far ahead consensus and so far ahead of even lofty expectations, i think that's why that stock is running today. >> i wouldn't miss it for the world. Data is a real-time snapshot *Data is delayed at least 15 minutes. 2023 TV GUIDE, A FANDOM COMPANY. >> amazon has an interesting approach, because they're not really -- it's not central to the business model of the company. >> sara, what we're talking is boeing pausing the dlib delivery of some 73 max models, how many remains unclear, and here's the reason why the company notified by one of its primary suppliers, spirit air row systems there is a problem with the rear of the plane where it connects with the vertical fin, they are not worried about this being a flight safety issue. only from xfinity. encinitas? >> bank index is a one-month high citi above for the first time since march 9th. if we get a big recession, that does cure inflation. >> that's unfair >> what do you mean? Watch Squawk on the Street: E122 on DIRECTV utilization rates from 78 last month to 79.6. so, this is good news. but i still -- do i want to know what's going on with first republic i don't feel any better about first republic when i look at these numbers. not going to cause the grounding of 737 maxes however, they are going to have to inspect all of the maxes that are in production as well as those in inventory, well over 200 airplanes. rates have popped a bit. >> you're welcome. Trending. if you're thinking, wow, housing, is starting to come down, forget about it >> it's not at housing wages, three-month average is at least a year low what are they focused on, then, markets? everybody wants to be with their buds with coffee in a weird curls in their hair. is that going to be considered bad? they talk about it average deposits down 3% in the quarter while end of period deposits, up 2%, implying an intraquarter reversal of the recent outflow trend as a consequence of margin events >> but the meteorological forecast this time has dropped in -- >> hurricane >> now it's just storm clouds that are gathering david. >> i don't understand it, and most of the bankers i talk to do not understand it, and they always say, jim, when you have citi on, why don't you pin them down on that i say, i don't have citi they're not coming on. "Power Lunch" Co-Anchor & Vice President, Events Strategy, CNBC Senior Climate and Real Estate Correspondent. >> um, i'm not entirely sure i think things look potentially better, but, obviously, there's all sorts of banana skins out there still, some of which we, know about, but certainly seems to me leans me a touch towards the more positive side, the inflation evidence is improving. it's crazy bananas out there people are not getting. rick santelli. short term it's back. Real-time business and stock-market news broadcast from the New York Stock Exchange begins at the opening bell, and also features reports from the CME Group in Chicago as well as coverage of the. >> but the problem is, jim, the market is already there and anticipating that fed goes one more time in may and then pauses and then potentially cuts. Squawk Around the World: This occasional segment, which debuted on 2008-04-09, takes a look at the economic diaries of different regions outside of the US. we're going to see news in the ev space today, tesla extending their price cuts to europe, according to some reports, and then lucid, q1 production a divndelery is down quarter on quarter that's putting some pressure on that name. Data is a real-time snapshot *Data is delayed at least 15 minutes. rivian as well rivian as well opening bell is coming up in our customers don't do what they do for likes or followers. >> a good friend. nobody asks the question, if we want to have national security for food, national security interest rates for chips, and energy, no one is asking the essential question, at what cost >> yeah. the three bills are a trillion of stimulus over the next few years. and this is ready to go online! >> jpmorgan, like every one of these banks, is still dealing with deposits leaving for higher interest opportunities as we know i mean, if you keep your money with jpmorgan, you're getting virtually nothing versus what you could still get on a treasury where you can get paid as much as 5% in certain areas so, yeah, that's still happening, but they got a lot more given the turmoil that we talked about, every day, every, hour, for that two-week period or so with the collapse of svb, signature bank and the concerns over the bank industry no doubt about it. maisel." 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