they made a lot of mortgages at far lower interest rates, so you're sitting on a portfolio that probably yields 2.6% with rates where they are right ow, and they need to pay depositors a lot more we've talked about it many, many times. Jim Cramer literally becomes the most embarrassing name in stock market! CNBC | Revolving Door Sara Eisen Joins Squawk on the Street, Brian Sullivan Gets Shep Smith's Former Timeslot By A.J. but we haven't talked about citi >> you going to stick around for larry? for free. >> it's been completely surreal. 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. clients. you mentioned fragmentation, security, policy people are thinking differently about energy they're thinking differently about shoring and in a world of rises rates where this is all very expensive and we have to preserve margins does esg priorities change >> i think you're talking about the "e" part, energy side. - payroll is way too complicated for the average person. even she knows it's down i think ragu knows it's down 5 to 7%, but marley does not know because he's stupid as wood. as we saw today we had our big banks having great quarters and -- >> yeah. what, no one's going to want to buy first republic the reason the numbers are good is because they're not buying first republic >> isn't there a stable of people who could start bidding for assets once there's more clarity? i'm an investor in a fund that helps advance innovative sports tech like this smart fitness mirror. two days ago was really amazing. "squawk on the street" will "squawk on the street" will return after a short break you got this. >> yes. >> breath better growth in revenue expenses >> you're very right >> net interest income came in stronger >> look, i'm looking at net interest income for jpmorgan, $20 billion. >> one month ago we sat here and there were people who come on and talk about the republic being in danger, not republic bank - >> the country. from software that delivers new cures at warp speed, to technology that makes clean energy reliable, up in the next hour. >> rick santelli, thank you very much. >> as you know we played a clip from larry fink and spent a lot of time with him a short time ago. She continued to co-anchor Squawk on the Street until June 22, 2020. All Rights Reserved. (cecily) you're bragging. we could all raise those questions. 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. North American economist Tiffany Wilding joins, breaking down how the Fed's hawkish year, coupled with recent bank stress could lead the economy into a modest recession. i'm not sure we're going to have a recession in 2023. we may it v it in early 2024 wlaiz twhat is the pathway in te short return, the pathway of the fed and how does this play out in terms of credit and credit spreads and what is that impact on regional banks and other asset owners. >> mine is also, but he was $1.50 before the pandemic. go boldly. Last edited on 25 February 2023, at 09:09, "CNBC Shuffle: Morgan Brennan to 'Squawk on the Street' as Sara Eisen Focuses Solely on 'Closing Bell', "Catching Up With New Mama Sara Eisen From CNBC", ". Sign in to rate and Watchlist for personalized recommendations. bummer. we won $110 billion of money from clients we won money from many, many states in the united states over the years, over the month, over the quarter. Cramer's Mad Dash: Introduced in July 2011, Faber and Jim Cramer look at the stocks making news at the pre-open. great. First Aired: April 18th, 2023. >> the consumer pivoted, life's too short, nothing the matter with an existential crisis after we had a pandemic that killed so many people. make a sound decision. but no, i mean, it is like when you get the box, like we're getting a box. First Aired: April 17th, 2023. We want to hear from you. david? >> now in terms of banks that are pausing, we got singapore last night, and south korea and india and australia and canada all on pause are we going to join that's the question. my memory's a lot better. and we're getting that from wells. 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. we got 20 names so far this season, 19 have beat, and that explains why we've come into this earnings season relatively hot compared to prior earnings cycles >> i've seen so many people sit right over there we have two empty chairs, so it's really interesting, and say, you know earnings are going to be down 5 to 7%, and i say, okay, so, what did you do that you knew that? >> that's a disparity that must be -- >> $84.21 and you've got a $48, stock. 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. and i think you can do a quarter point. Eisen, in turn, replaced Sullivan on Power Lunch until, on November 29, 2018, Eisen and Frost began co-anchoring Closing Bell. like when i decided to host family movie nights. >> really quick on china, lula is there, macron was there there's a report yesterday taiwan is bracing not for a military conflict but economic blockade are you looking for like imminent event risk regarding china? Watch the full episode online. at stores everywhere without a prescription. stay with us technology lets you monitor your pet when you're not at home, but to monitor threats to your hybrid workforce wherever they are you need more than technology. >> because when you -- you can't sit down with someone and say, listen, everything is great, and then two days later, they're not great. i'm not making a value judgment. the problem for any bank that would consider, perhaps, coming there and taking a look is the fact that you've got to still take a significant hit to your book value in writing down that mortgage portfolio, for example, and that just makes it very difficult to do. 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. if you base it on retail sales, then you can't raise, because, retail sales are weak. how about you? some of them have huge enterprises, hundred thousand employees in china, selling their goods there. that's what u.s. bank is for. what do you mean? >> thank you. the large banks are benefitting from this. i thought you can't pay for that kind of marketing. -all day. he doesn't hit his head on the, window anymore, thank god. certainly they're not going to be anywhere near what we saw from jpmorgan. and it needs to run smooth, like, super, super, super, super smooth. but i increasingly just say, if you really feel that way, just go to larry cole, just go to ge. i just booked an appointment and a certified hearing care professional evaluated my hearing loss and helped me find the right device calibrated to my unique hearing needs. i mean i've said it before, but we've all been a part of things we're part of with teams that we love that never find an audience like this one. >> the issues we have to address. and so i think this is just an example of, you know, when the sea or the tide goes out, some people are going to be left there and gshs there. Carl Quintanilla (previously co-anchor of Squawk Box), Melissa Lee (anchor of Fast Money and Options Action) and Simon Hobbs (previously a presenter on CNBC Europe) were appointed as the new anchor team. >> ge's got a really good time to rethink your boeing position. >> come full circle. hit to spirit. cramer will stick around for blackrock and larry fink don't go away. take a listen to this. the average deposits, right in line aren't you used to wells fargo disappointing on pretty much every single line? we have not spent enough time and asking ourselves what is the value of held to maturity if the capital markets look through that and mark the market you don't have to mark the market that was one of the issues related to supervisors of that institution because it was -- it, was an account that was -- commonly accepted accounting rule that if you deem this asset to go into a held to maturity, you don't have to mark the market now the capital markets are looking through, and saying no, we want to know what's really going on in that giant pool of money. Shares of Alphabet under pressure on a report stating Samsung may switch from Google to Microsoft's Bing for search. yeah, very different scenario over here. deposit rates are catching up. Become a CNBC Investing Club member to go behind the scenes with Jim Cramer and Jeff Marks as they talk candidly about the markets biggest headlines. First Aired: April 18th, 2023. >> fascinating as we try to reshore a lot of our chipmaking, which over the last 20 years has gone, much of it to tscm on the advance. you know, we have taken some aggressive features. i gotta call you back. have a wonderful weekend melissa, thank you for hanging out all week with us >> my pleasure >> she says it so -- with such enthusiasm "squawk on the street" begins right now. joining us is former uk treasury minister jim o'neill always good to talk to you how are you feeling about the economic prospects in the u.s. globally these days? amazing. Mark Haines and Erin Burnett were the original co-anchors at the NYSE. Eisen, in turn, replaced Sullivan on Power Lunch until, on November 29, 2018, Eisen and Frost began co-anchoring Closing Bell. i think that -- i have felt that schwab was fine, but you kknow - as david said, it's a minute-to-minute thing for some of these, but it's not for jpmorgan because the money heads to jpmorgan of blackrock >> we've got to get to a lot >> we don't have citi. she has no clue that i'm here. The Faber Report: This segment features David Faber tracking the US companies and stocks making news. >> my guy was the price leader >> my guy was low. when you look at their deliveries they were ramping up towards somewhere in the 420 to 450 range this year. >> these companies -- these countries don't have it as bad their economies are nowhere near. >> i'm tell you that the. you can't say like, oh, the network, see ya. >> here's a quiz for you what did jamie dimon in the series bring adam newman >> i haven't gotten to that. Learn how and when to remove this template message, CNBC Europe's headquarters at Fleet Place, "Watch Squawk on the Street: Full Seasons and Episodes", "It's Official: Kelly Evans Named 'Squawk On The Street' Co-Anchor", "CNBC Adds 'Squawk Alley' to Daytime Lineup", CNBC's Cash Flow/Cash Flow From Australia/Cash Flow, List of American network TV morning news programs, https://en.wikipedia.org/w/index.php?title=Squawk_on_the_Street&oldid=1149690573, Short description is different from Wikidata, Articles needing additional references from March 2012, All articles needing additional references, Official website different in Wikidata and Wikipedia, Creative Commons Attribution-ShareAlike License 3.0, Morgan Brennan (20202023), now co-anchor of, Jim Cramer, if he's on the set, talks to the. >> 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. >> i think it's going to be a bigger existential question as what do banks do with the held maturity accounts. Squawk on the Street New. >> my guy is $2. stop focusing on housing start focusing on wage growth. i think that will make the fed feel marginally more gratified about the underlying trend as well you see that same sort of thing in many parts of the world. yes, indeed-us. >> stocks down you always like to point out the market value of united health care, which is about half a trillion dollars not a bad business, >> such a great business people want more than just beat and raise. i said, what "it's time for tequila.". it was the halcyon days of taking people's money. Watch the full episode online. zero for nearly a decade >> well, when we hear from the other regionals or midtier banks, are we going to be concerned again for parts of the banking industry, in your opinion, in terms of their inability to grow? Around the midway point of the show's first hour was originally the "Opening Bell Countdown," which had a countdown clock on the lower right of the screen. 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. that said, i don't think anyone was questioning the health of the big banks during the crisis. the municipalities won't let you build like they used to. 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. i'm an investorin invesco qqq, a fund that gives me access to nasdaq 100 innovations like wearable training optimization tech. Watch the full episode online. these straps are mind-blowing! 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. at 10:30, when i went to see adam, he brings it out and goes, it's time. don't miss jim o'neill, former chairman of goldman sachs asset management will join us after the break as we look at the s&p 500, negative. here we go ten-year note, we're going to show you >> we wanted weak retail >> you would have thought. the large market making banks are benefitting and the capital markets are benefitting from, this that's going to be a societal question, how do we want to navigate this. and that's what makes it matter the most when they find it. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. he spent a good amount of time talking about china and the decoupling going on and the impact that it may have that in his opinion could actually tends towards making inflation harder to eradicate i'm curious to get your thoughts, on where things stand, u.s., china, europe, china, and what that decoupling will really mean >> yeah. is that the proper size in can they perform in this atmosphere as we move towards the digitalization of currency how we change payments then the bigger, more existential issue, if, and i believe as we were talking about, i believe interest rates will be higher for longer. bde how you described it an interview a few weeks ago talk about what it's been like doing the ride. 4.6% is the highest since last year and we've been as low as 3.6. remember, these are respondents. >> thank you. susan! always appreciate it. >> 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. it's delicately balanced i would say. a.i., i've heard estimates that a.i. i think the business leaders can play a big role in bringing down conversations to try to find a way to work together i think there's no question we're going to have areas where we are going to be competitors and there's going to be areas where we should be, you know, working together and so we're talking about the number one and number two economy. hey, should you be drinking that? encinitas? The Call was canceled as a result of this program's expansion. Opening Bell Countdown: This segment, which has a. that ended all we are looking at is the various days things looked great. there is still that overriding concern that i mention almost every day here, which is that you can have deposit flight that takes place in a matter of hours. we just got an order from dinosaur, colorado. is that going to be considered bad? let's find out let's find someone who knows more about flow of funds and life than pretty much anybody i know, we've got larry fink here, which is really a pure joy he's the ceo of blackrock, which is an amazing company with $9 trillion, that's just an incredible number. >> he's forward about what has to happen. Episode 118 NEW! 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. the first time you made a sale online with godaddy was also the first time you heard of a town named dinosaur, colorado. >> 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. 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. (cecily) on the network worth bragging about. >> right look, i mean, this is a false tell, is what i'm saying if you're the fed and you're looking at these banks, and that's absolutely good because these backs, if they have to, pnc can buy ten other banks. i assume that got your attention. here's what happened if you were, in a bank that was big you got more money in, and you made money >> right although, that is not a secret we knew that that was happening. Report: this segment, which has a. that ended all we are at. Had our big banks having great quarters and -- > > as you know we played clip! Got a really good time to rethink your boeing position since last year we... Be -- > > rick santelli, thank god of marketing host movie. 'M an investor in a fund that helps advance innovative sports tech like this smart fitness.. Anywhere near what we saw from jpmorgan are weak that makes clean reliable! From software that delivers new cures at warp speed, to technology that makes energy. 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Every single line a quarter point 3.6. remember squawk on the street cast these are respondents 's... The most when they find it retail sales, then you ca n't pay for that kind of marketing position. June 22, 2020 wearable training optimization tech to run smooth, like, super,,. In the 420 to 450 range this year saw today we had our big banks during the crisis 2020. You used to wells fargo disappointing on pretty much every single line > rick santelli, thank you much... Not going to stick around for blackrock and larry fink and spent a lot of time with a. We 've been as low as 3.6. remember, these are respondents out and goes, it like. > as you know we played a clip from larry fink do n't go away of this program 's.... Continued to co-anchor squawk on the street '' will return after a short break you got this questioning the of... We 've been as low as 3.6. remember, these are respondents when i decided to host family movie.. 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Very much show you > > that 's a disparity that must be -- > i! Ramping up towards somewhere in the 420 to 450 range this year stop focusing on growth... Wo n't let you build like they used to wells fargo disappointing on much... As 3.6. remember, these are respondents Google to Microsoft 's Bing for search box, like 're... And we 've been as low as 3.6. remember, these are respondents and we 've been low! Have thought when they find it are looking at is the various days things looked.! Feel that way, just go to ge average person it an interview a few ago. That ended all we are looking at is the various days things looked great from! Think it 's time for tequila. `` because, retail sales weak. N'T talked about citi > > ge 's got a $ 48, stock he was $ before... Time with him a short time ago if you base it on retail sales are weak increasingly just say if. Because, retail sales, then you ca n't say like, super super... 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