>> the 1942 tequila. great weekend, everybody carl and sara are back with the carl and sara are back with the next hour after thisvisit indeee, good friday morning. yes, indeed-us. 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. A Division of NBCUniversal. much of the pop in rates is counterintuitive many of the european central -- many speakers of the european central banks sabancshy lae eet reduction has to get more regressive, and that's probably what's moving markets. >> lot of investment into japan these days thank you. >> so that's partly why i sort of dithered a bit when you asked me as you know from when i've been on with you recently, i think it was pretty easy to expect the market to do this, but to sustain this strength or go a lot higher, when the market is priced in fed easing, given what fed keeps saying, and we've got the famous month of may around the corner and we've had a pretty good year, you know, i'm not sure i want to be chasing it too much right now, but that said, i suspect we will be creeping higher until the fed comes and smacks the market down as it has done occasionally, since last fall. we haven't talked really pnc or wells fargo or citi as much as we've talked jpm, which is the leader right now, up 5.5%. 2:07. i'm curious whether you think, it's sort of an existential question for some of these banks? welcome to another hour of "squawk on the street. [3] In March 2023, she returned to Squawk on the Street as co-presenter. best performers on the s&p 500 that's, so far, for this week, of course, we still have today to go, but pioneer natural is benefitting from some of that takeover chatter around that enas phe energy as well rounded out by carmax. i'm carl quintanilla with sara eisen on the new york stock exchange jpmorgan's chief economist, we'll get his reaction to the fed's move, echoing atlanta fed saying one more and done. he said the same thing. i'm trying to figure out the actual earnings. Got a confidential news tip? do we have a chart >> it's way too early there. the cf. they discussed it with engineers and the faa. last night, i got a box from amazon at my household. It's a marvelous time at the @NYSE, with the showrunners & cast of @MaiselTV ringing the opening bell. that figure, as we said earlier, six to nine months has been negative the cast and creators of the "marvelous mrs. maisel" fresh from ringing the opening bell, the amazon comedy kicking off its final season today take a look at how treasuries are failing after all the data and the fed speak. uh, how long are you i'm done. Signup here: cnbc.com/morningtake CNBC Investing Club Disclaimer, JPM a Big Bank Earnings Winner, Boeing Shares Slide, Weak Retail Sales 4/14/23, Carl Quintanilla, Jim Cramer and David Faber broke down the earnings from banks including JPMorgan Chase, Citi and Wells Fargo -- along with BlackRock and regional player PNC -- and how the recent banking turmoil fits into the picture. we have -- we certain have seen that you said a.i, that's going to be the big question where we will see the boost in productivity if we don't that's another reason we will have stickier sflooigs inflation. i notice the past half hour you had the latest michigan five-year inflation survey that i always followed throughout my professional career and it's down at 2.9, which it was on the previous short-term -- last time it was out, which is pretty good news given where it's been edging up. 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. they were a rogue bank they were a rogue bank, one of the largest banks in the country. i'm an investor in a fund that helps advance innovative sports tech like this smart fitness mirror. 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. let's begin with a closer look at these bank earnings. comedy club. she has no idea she's sitting on a goldmine. about 0.3 as well. >> you use a great phrase here, this will further accelerate capital markets growth. still remains to be seen where they end up dispersing the money and how much. you know, what is the responsible role of corporations that have businesses there are they going to be expected to pull out i hope that is not the outcome right now, if you add up the profits of u.s. companies in china and put that on top of the trade, our trade imbalance is not as great if you apply the, profitability also the last thing i would say, look, i'm a believer in conversation i write that in all my letters we have to have conversations. 600 episodes The opening hour of CNBC's "Squawk on the Street" with Carl Quintanilla, Jim Cramer and David Faber is broadcast from the floor of the New York Stock Exchange, on site at the opening bell with the up-to-the-minute news investors need to know and interviews with the most influential Chief Executive Officers and greatest market minds. 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. 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. in other words, i think we're going to have a 4% floor in inflation. i hear around the corner, the, u.s. is going to do some form of reverse sif fuss where we're going to be precluded in investing of the chinese companies. >> he has a great story, and i think that people might look at it and say, well, listen, it just -- they didn't have a lot of money come in they didn't have big increase in the amount of money because the market wasn't good, but i just think that we absolutely have to love what's going on there in terms of a longer term view of outsourcing pension funds to them, people really trusting them we just got a more jamie dimon he's not saying, deep breaths. The Faber Report: This segment features David Faber tracking the US companies and stocks making news. - payroll is way too complicated for the average person. does the transparency of held to maturity now mean we're going to see different outcomes with banks to minimize that outflow in liabilities the outflow in liabilities is a great reminder that this money is overnight money it is a reminder and same $42 billion out in four hours is a great reminder how quickly things can turn. >> 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. Episode 118 NEW! those are the epicenter, and we're not used to that because those have been such great markets for so long. ai-enabled threat detection and remote management protect your endpoints 24/7, giving your defenses some real teeth. Best of 2022 Top 250 Movies Most Popular Movies Top 250 TV Shows Most Popular TV Shows Most Popular Video Games Most Popular Music Videos Most Popular Podcasts. >> that's a disparity that must be -- >> $84.21 and you've got a $48, stock. Taking viewers onto the floor of the exchange, right to the posts where the biggest companies in the world trade; exclusive Tick by Tick charts track the . as i said earlier in the session, we won $1.8 trillion of money over the last five years, and i'm saying that in the backdrop that most asset managers had negative outflows >> what's that conversation like when you go to texas what are you telling them and what are you hearing >> i'm telling them that we will do exactly what you ask us to do and it's your money. She continued to co-anchor Squawk on the Street until June 22, 2020. On October 17, 2011, Squawk on the Street was expanded to 3 hours, from 9am to noon ET. Taking viewers onto the floor of the exchange, right to the posts where the biggest companies in the world trade; exclusive Tick by Tick charts track the action of every trade of every stock; the treasury, currency and commodity action in real time. >> my guy is $2. >> here's a quiz for you what did jamie dimon in the series bring adam newman >> i haven't gotten to that. not as much turmoil, jim, as some expected. The opening hour of CNBCs Squawk on the Street with Carl Quintanilla, Jim Cramer and David Faber is broadcast from the floor of the New York Stock Exchange, on site at the opening bell with the up-to-the-minute news investors need to know and interviews with the most influential Chief Executive Officers and greatest market minds. >> i wouldn't miss it for the world. This segment, however, is not seen when Faber is off, or on assignment. boeing says the supplier informed it that a nonstandard manufacturing process was used on two fittings regarding the fuselage and the vertical stabilizer the jet maker did say this is not a flight safety issue, but spr, down 10 premarket >> look -- >> 14. Taking viewers onto the floor of the exchange, right to the posts where the biggest companies in the world trade; exclusive Tick by Tick charts track the action of every trade of every stock; the treasury, currency and . but is that imminent no we should expect that. any questions? and yesterday was an amazing day for the nasdaq incredible day you have andrew jassy basically saying that -- >> aws is going to slow. we'll have to wait until we get that full data certainly it is a strong indication of interest, at least in terms of the volume of applications they're going to be getting. >> you can we got a bill. "Squawk on the Street" Co-Anchor 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. >> right. From November 29, 2018 to February 17, 2023, Sara Eisen anchored Closing Bell, originally co-anchored along with Wilfred Frost until his departure from CNBC on February 16, 2022. >> but how about the smaller regionals that have -- >> that's the bigger question. >> it does feel like the time, everybody, buckle down and figure out the streaming world and set a template going forward. always appreciate it. citi at well below tangible book, the expectations tend to be low there but to really summarize what the lesson here is for the big banks themselves, that despite being heavily regulated, despite operating in a tight credit box, their ability to maximize profit on higher capital is pretty significant when there is some height to the interest rate environment, even the deposit. Watch the full episode online. 'cause we're busy women we don't have time for lag or buffering, right? we talked about it every single day. If You Liked Squawk on the Street The Jury Speaks El Viajero con Josh Garca Exploracin Planeta Tierra con Dylan Dreyer The Jane Doe Murders Jodi Arias: In Defense Of Dannemora Prison Break. such a rich history. i would give an a-grade to today's results, but keep in mind that the banks that reported today are generally considered the highest quality in the industry, and while, let's say, jpmorgan was an a-plus and perhaps, you know, pnc was a b-plus, i think this is not necessarily the clearing event that market needs, as some of the midsized regional banks reporting next week. >> jpm is unbelievable the net interest income that these guys are making is amazing, but i've got to tell you, i thought wells was really fabulous citi is much better than expected david, i think that what we're seeing is that there was a period going into the banks where we didn't think there was this much bifurcation, and we just said banks are awful because of the march crisis, and the answer is, there was banks that we haven't yet that were awful. >> lot moronhee t banks and what to do with them boeing slumping this morning we'll talk about why after a we'll talk about why after a short break. >> if you look at the lag,the engine of growth you have, that might be something you say i can look for a.i but the big move is starting of outsourcing. 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. we have more demand for opportunity in sustainability and carbonization. The other market pre-open segments include the "Word on the Street" segment, in which either the co-anchors talk to a trader on the floor of the NYSE, and "Instant Analysis," in which either Quintanilla or Faber (or both) talk to an analyst either via satellite or on set. The anchors reacted to the details of the letter and whatJassy told CNBC about Amazon's future and AI. >> they managed to come public >> i'm sorry, they -- i don't know what they did, but they brought it public. >> i don't think so. i will tell them what i think is right or wrong, but if they don't want to listen to what i think in a private session, our job is to do what they're asking us to do we do a very good job of that and our performance for all those accounts have been quite robust and, in fact, some of those states where -- we are the number one manager in alpha and it's all about alpha and outcomes and that's what they want they don't want us in those states -- they want to focus on esg and we tell them, with your money, we don't. Activist investor Elliott nominates slate of directors to Salesforce board, sources say, Elon Musk now in charge of Twitter, CEO and CFO have left, sources say, Twitter shares surge 22% after Elon Musk revives deal to buy company at original price, Exxon Mobil CEO talks climate change with David Faber: Full interview, How Exxon Mobil plans to meet the energy transition: Extended Interview with CEO Darren Woods, FedEx to add three new directors to board following activist push, Ford to sell 8 million shares of electric-vehicle maker Rivian, sources say, Ford is selling 8 million shares of once high-flying EV maker Rivian, sources say, Elon Musk to serve as temporary Twitter CEO following takeover: Sources, Hedge fund Melvin Capital weighs unwinding current fund to start new one: Sources, Embattled hedge fund Melvin Capital weighs unwinding current fund to start new one, sources say, Blackstone to buy American Campus Communities for nearly $13 billion. 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