21 Burst results for "Bank Of America"
U.S. Adds 850,000 Jobs in June, Better Than Expected
"You fire up the grill this july fourth weekend. We've got some big news on the state of the american. Consumer the jobs report coming in better than expected the us at eight hundred fifty thousand new jobs and people are getting paid. More hourly wages for non-supervisory roles in leisure and hospitality industry up two point three percent huge games. Their bank america reporting credit card spending is up nineteen percent for over a two year period for the week ending june twenty six with growth in travel entertainment dining out especially strong so as we head into the long fourth of july weekend. Is it all fireworks for the great american consumer seagrass kick it off so payrolls. There's still some slack. Payrolls was still about six point. Seven million below pre pandemic. That's number one so you have slack in the labor market so we're not so worried about inflation just yet people have a job. People have job. Keep a job people who don't have a job. We're going to be coming off aid when september. i think the number is. What's the extra cheque right now. Three hundred dollars. Jumping whenever you know. Because i'm not so sure about the numbers so three hundred dollars extra on top of unemployment unemployment checks that's going to be rolling so i'm a little perplexed. Does the economy keep rolling or do we see a pull back in september. So you're questioning. I'm quasi just to put a bow on my thing cosco all-time highs nike all-time highs x. Y. discretionary you think it's time you'd think it's toppy feel like it could be a much toppy. There are some pockets of strength. But i think in september that's make or break and that's real pivotal going into urine.
"bank america" Discussed on 106.1 FM WTKK
"It's really weird. We have a value based Obel. We buy things that are there more reasonably valued and generally tend to be out of favor. Um Since the week before the election before the election was the worst week before a presidential election on record period. I'm pretty simple when I get that kind of sell off I buy. I mean, I take advantage, and so we bought a lot, and we bought a lot of value, basically like the banks, Wells Fargo Bank America True Issue Excuse also noticed BB and t X as well as all summer. We both. Yeah, but here's the thing that energy I was working on the newsletter yesterday and If you if you look at the last three months, energy stocks were up 45% 45 not 4.5 45% banks. The bank index is up 22% and Tech is up 6%. S so I'm very pleased to see that happening. Rates are starting to rise again and that Z. What's really driving? Ah, lot of this change in here so to me. Thing That's perplex me is we've had that run, and I love it. Last quarter was great. This first quarters off to a great start, but yesterday on, you know Text had a massive day May Netflix had great earnings. That's great, and the stock is really expensive, but I don't really see where that's coming from. So that kind of what we've been talking about, too Well, that was it was nice to see the Fang stocks. You know, Facebook, Amazon, Apple, Netflix and video and Google do well when the economy doesn't Now the economy is taking back up again. And so that's one reason why the value stocks of financials and oil have been doing well. But I don't understand where this is coming from, with them taking off again yesterday. It's very strange because interest rates continued to rise is an exuberance that's just doesn't feel right. Feels emotional to me, too. Well, there's a there's a you know, it's like a business under one very successful businessman or told me one time. Your return is is totally predicated on what you paid in the first place. And at some point you know if you pay too much, you can get burned. Timing is everything It is now to your point. How now This is this is a little bit older information, right? So it xjak you ery 15th. So last year, I must have said this 500 times during the year. The worst other than restaurants and hotels and airlines. The worst thing I ever is energy, big oil, and, um, so I was telling people big oil and financials were horrible in the cove it crash. Wanted on. Bo bought those beat up stocks, Exxon and truest And although now we look like genius when I genius. We just timed it nicely. So then this is the funniest thing on January, 15th. The S and P sectors. The worst sector by far last year was energy On January 15th. It was the best sector up 12.8% and then the superstar sector Last year was information technology. It was down 2.2% the first two weeks of January, so That rotation. We talk about timing buying low selling high You couldn't have had a better example of that. Just the first two weeks compared to last year. So I just you brought it up. So I thought I'd remember when Exxon got booted out of the down. Think was the third quarter. We were by that they put sales force in its place and Salesforce Big software, darling Great company. I own some of it Since then, Exxon. I mean the performance out performance of Exxon and CRM because Those forces actually down over that time Panda that's used to the way it works. But it felt kind of third world is when they took Exxon out of the doubt. And, well, we're gonna have to take our first break and we're just gonna have a lot of fun today, talking about all the stuff going on in our culture in our country and in the world. How does it affect you? Financially, so stay tuned. Hindsight is 2020 2020 was a.
"bank america" Discussed on KFI AM 640
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"bank america" Discussed on KQED Radio
"Bank America's socially responsible bank more it amalgamated bank dot com after some morning fog some showers today and some clouds in the bay area highs in the mid fifties mid to upper fifties it's a thirty live from NPR news in Washington I'm Lakshmi saying the World Health Organization warns the United States could become the globe's next epicenter of the covert nineteen pandemic in Geneva side of W. H. O. headquarters Lisa schline reports global health officials are reporting a rapid acceleration of new cases of crime virus in the U. S. in the last twenty four hours W. H. O. says the main drivers of the corona virus pandemic are Europe and the United States which together account for eighty five percent of all new cases reported since Monday morning but the U. N. health agency warns the huge surge of infections in the U. S. over the past twenty four hours indicates the US could potentially overtake Europe is the epicenter of this global crisis Lisa schline reporting the Chinese city of Wuhan where the corona virus first emerged has been under strict quarantine since late January but and here's Emily Feng reports a lockdown imposed on the city of more than nine million is expected to be lifted April eighth starting Wednesday residents in other cities in the same province as well hand will be able to leave the city of Wuhan where nearly two thirds of all cases in China occurred will let people leave two weeks later one reported zero new cases today but a report Monday from independent Chinese outlet Tyson said a doctor who cleans some residents were still testing positive as a symptomatic virus carriers that's NPR's Emily Feng.
"bank america" Discussed on Bloomberg Radio New York
"Brutal the laws since April twenty seventeen I believe on your total right now the way it slower I was brutal and Lisa mention the bank America survey that came out early this morning I'll pull out the view on the dollar fifty four percent of those surveyed said the door is a valued the second highest level since two thousand and two it's gonna be painful and that some people and it has been for two months now because heading into twenty twenty the big consensus trade was finally we're going to see a weaker dollar member Jeff gunlock coming out saying this was his highest conviction trade heading into the year and look where we are right now with the euro no sign of strengthening given those those that data that confidence died at his army very quickly the chalk at the chart all gussied up but it's for those you know point figure is a textbook double high pulled cop which says I'd say this is one of seven is like I've done two standard deviations is one of seven ninety three for those keeping score of four digits in your car HSBC John Tice showed why John Tice's John Tice today in it what I what I knew but learned John is is just in Asia operation and it's always always been Hong Kong is four times bigger for their business in mainland China and that's where the focus is going to be slightly altered just to make the most sense have an interim CEO in now Quinn make an aggressive strategic moves at the bank before you secure the role is just slightly stronger how press of is this though this is basically consolidating their position in Asia they're basically taking any money that they're generating that they're saving from some of these cuts over the U. S. and in Europe and then putting them into other Asian economies out of market through clearly hear me upon meeting John Texas known as your destination for market so distinction Tom between radical and aggressive I'm not saying it's a radical strategic shift I just made its aggressive considering the guy doesn't have the full time Roni's turning around and saying we could cut thirty five thousand jobs in three is not typically what you expect from someone who has a secure put the CEO role as yet let's go to the negative your house really of us we can it's all changed now we're going through a one ninety eight didn't want it no I didn't know I TiVo you know I got like a repeat that bill loop at all we can let you watch it afterwards so we just put it on a trip to the what's the extra to get from that bill hi that a real yield is the story of the mind that I was the first the P. I was coasting to percent yeah but I did the thirty year bond back a million years like back pre Volker and there was one time it was worse than this and that's it circle six may I just north of two percent right yields to Santa thirties below that level well it's interesting to see and then going back to that bank America Maryland fund managers survey everyone's expecting a deflationary environment in that environment what do you buy and interestingly there's a question baked into this survey people are still buying tech stocks is that the best deflationary trade out there I don't really understand the logic necessarily there is it bonds I don't necessarily understand the logic there considering the fact you're gonna have increasing deficit it's unclear how much of that is going to drop rates in the near term gold John with the one print back in January of of sixteen hundred but essentially it's right but just up against resistance and now Jeff curry looks morning until my site look the Gulf cooperation some really really nice snapshot of where appetite is for global growth cal cal at the start of this year kind of stated that was elevated levels and it's still that really comes into we ready to come in this market has elicited he also follows the roses chocolate ratio yeah which is what we're going down a chocolate chocolate one it is a key taken the gold copper ratio we still elevated levels and everybody's talking about transit three and a V. shaped recovery well sort of I'm not saying that adjustment in gold or copper at the moment I'm not seeing that so questions anybody actually gonna sell apple shares today off this news I mean like call up and you know I've got my have for sure no of course I I think that no I think most people still think this is transitory John's point any highlighted how much they said temporary transitory et cetera people are buying that story right now and we have a condom is on the show they come and they say this is going to be a classic V. shaped recovery would you what what's the tipping point for not today you go denies tonight right we do nice and it is plain go delight so he okay so young guys like denies we're going to put a sell recommendation on apple I don't know what she looked at the reason I'm uncomfortable with this a lot of people brought up the fact that the stock doubled the last time we had a warning count of apple and that might well be true the stock was also down around about thirty percent over several months governments that profit warning this stock has doubled coming into a warning to rand revenue and people of very very comfortable with the idea that this is consumption delight and destroy Mohamed el Erian put out a really interesting idea which is the stagflation Eric concept that when you're having both the supply and the demand side both being destroyed that's a big concern that slow down and at what point is that going to be permanent and that's a big question as we get you know some of these numbers maybe decided a great book on this call hubris which is you know exactly what you just described lease and it's just the the equilibrium points of one lines move and that's bad but of both lines are moving you get all sorts of noise desire really emphasizes the noise factor it's out there one of roses cost infirmary team please I mean it's a given away like if you go to you know whole paycheck to they are they given out a dozen roses has changed here fares apartment they're giving out free roses I think about three dollars probably three or four dollars worth expect I took them back on Friday of course I wasn't happy with the quality of them and when he saw me walk back in he said on night I said you damn right that debt and he said he did more to them I said because they were dead and he said be honest if you wore them and I said I didn't put them in water because they would get.
"bank america" Discussed on Bloomberg Radio New York
"World Economic Forum in Davos on turn key with John for of the early evening here very different dollar suppose hours ago present home speaking with optimism Erica economic and political experiment John but there's a lot of the feast day one in you know in two days should we call it a victory lap Pomeroy yeah yeah this is speech to her many times before I don't think it was five hundred victories the consumption yeah let's put it that way once you return upstairs to the scene banker from America just a bit I'm pleased to say that joining us now is from on high the CEO of bank America brought great to say good to see if the this beautiful out here is absolutely beautiful so what a way to start with one of us knowing questions I know is Osthoff bankers almost three the tax savings when the money got last year full year eighteen billion dollars tops expense almost three that's what they say because of the tax cut let's talk about a prime what do we got both first of all the reason why we say Texas we actually pay taxes and therefore we still fed recorder pay in the eighteen nineteen percent rate plus the state taxes and stuff in there so you know it's it's but what we do with the savings well we made the last three years beginning in seventeen when it passed eighteen and nineteen we've done a bonus program for all our teammates ninety five percent teammates a thousand dollars in cash on top of all the competition give the first for people up to one level and above that shares of stock he could not six percent a compensation for three years in a row now we can deal but but who should get from your party operation a considerable use to we use a savings to invest our teammates in terms of healthcare we have the team mates make less in the company we started by your nine years ago people under fifty thousand at that time eight or nine years ago have not had a increase in premium so I stay years the people but that have lesser increases that and what they called the core rates of inflation health care we also invested in physical plant we've built hundreds of new branches weaver model thousands of branches of the last three years we deployed all new ATMs effectively last three years but them if people say when you do the money we put new one point seven billion dollars in capital over here then we now stricken an extra five hundred million dollars in technology and so whatever provides products servicing capabilities the company also provides jobs because that is all coding so it's all engineers coating of where they work for us we buy from third parties so it's all.
"bank america" Discussed on 710 WOR
"I did I just different here I just don't think we're there yet but I think the aftermath we can both agree on things the market could lose six seven yeah you think with the market could lose sixty to seventy percent is that right yes I do yes I do California well I apps yeah she was eighty nine percent on blue chip Dow stocks from twenty nine to thirty eighty nine percent blue chip stocks and worn as you can't go wrong buying such stocks yeah here here's where and we had a guy on a couple weeks ago who said we had a ninety percent loss in a number of blue chip stocks out from six to like nine that people forget you know bank America city group others so it can happen but what I would argue is and I think it probably will happen in certain sectors like tech where you have just bubbles like we work in over Travis Kalanick leaving over that's big news you know he's he's you know leaving the board of directors I see you have these companies raising yes those companies you know could lose ninety percent but some companies with big cash modes I don't know I mean I also think if if we do have a big crash I think we have a thirty forty percent crashed by the way folks I think we go socialist and in twenty twenty four of this happens while the Bernie Sanders type candidate all bets the Great Depression from nineteen thirty three on yeah yeah yeah me because people will not understand and you also have a group of children who are becoming adults now the millennials they embrace socialism so I guess that's bad for the markets bit bad for us so we we we have to educate our kids on economics before it's too late so interesting discussion will be.
How to turn travel benefits into financial rewards
"I'm excited today to dive in a little bit because I do think. In the travel rewards space there are certain dominant players who have tons of different products and really drive deepen travel but I think the Bank of America premium rewards visa has a really a unique spot now lease so you've traveled every poll because now there's so many people traveling to every country but you you have them beat by by something right well first of all. I'm kind of the Koji with it so I was the first one kind of go public with the whole thing and A lot of people blame me for the influx of how many are now. But I'm still the youngest person to visit every we country in both polls and I've been to so many more as well like all the territories and and everything that no one's ever heard of or actually thought about going and we're GONNA to get into how you've used points to travel around the world similar to me but in a lot more interesting ways but merited let's focus on the credit card. Division of Bank of America the reward space is really competitive and you know can be argued that there's a race going on where every bank card offers trying to one up each other. What is bank America's approach to winning in this highly competitive market? Yeah I mean first of all everything we do starts with our customer and understanding what is it they want and we hear a couple of things across the board. Ford one is no me understand what I want. Reward me in recognize me and have my back so those are fundamentals as we think about anything. So we've got our products products but was also unique and I think it's really different even when you call the credit card division. We don't think like that. We know that we think about our customers and what they need. We're a full service financial company so we think about the customer and what their needs. We don't think about from a product standpoint. What product they need? What does the customer? I need to live their life and we have our new campaign right now he says. What would you like the power to do what we want to send is? What do people want to accomplish that? How do we build our capabilities around that? So is an example. We have our preferred rewards program so we look at it across our different products and services. You could have a checking account whether we have a merrill investment account a mortgage. How do we look at cumulatively? What are you doing with us? The amount of business. And how do we reward you for the totality of Your Business. And so it's taking a little bit of a broader view of the customer and ensuring weird trading the programs in the products based on the full relationship instead of just. We're not them online. I guess that's the difference that when you look at the category there are Ramana lines. We don't view a credit card division. we say what our customers need to love their financial life and let's make sure we're rewarding them for their business so that's really interesting. Because as a preferred rewards visa card holder. We worked with thank America on the launch of that product and it. It's it's really interesting because it's kind of cool to see your banking and deposits actually give you more rewards. It's really rich. You know especially with the double points on travel and dining with the top preferred rewards ratio. How do you afford to give out so much back per dollar spent? Are you losing losing money on certain areas so look at the big picture when you look at it and there are thresholds right so we've got different tiers depending on the combined assets that you have at the bank so a goal twenty to fifty fifty thousand in assets and it goes all the way up to one hundred in a mob in so we have got also incredible retention we ninety nine percent retention of customers were enrolled in our preferred rewards program. Because they see just to your point Brian how rich it is. And they're also more satisfied in more likely to recommend Bank of America so out of the millions and millions of customers that we have enrolled their great customers they refer and there continue to do more business with us so we look at it over the long term too. I think which is maybe maybe different than other folks. We look at sort of the lifetime of our customer. And how do we think about the future of our customer. More business with us over time. I think this really interesting because so many people say what did the banks you know work with you. Why do they want people you know the airlines must hate you? Because people are redeeming their points and they're losing money but I think what you said is very true like engage customers truly do bring more value back over time so you want people to use their points. We want people to use the points. We want people to engage. We want them to feel rewarded for doing. Business is with us and for me as a Bank of America preferred awards member and a premium rewards Visa Card holder. They always talk about lowering your words like learning your credit card with your banking rewards and as a preferred rewards platinum honors. Your member. I can't think of a better program because I'm getting three and a half points per dollar spent traveling dining in two point six two points on everything else. There's nothing else that can peace with that. And because you know I'm a platinum honors to your member so I have a certain amount of assets with Bank of America. I'm not going anywhere. Because I'm loving that. And it's low annual fee on the card and it's very favorably comparable to any other card out there in my opinion especially if you combine it with words. There's there's nothing better so basically basically what the points they're not at a certain airline you don't have to use them in only a certain category it is basically cash back right. That's how I use it actually is cash can use it for any purchase. So if you've got a helicopter they need to pay for which actually I mean have. I was funny. The first time that I I was talking about how I use my points with the team because I do I use them for like the helicopter to the Hamptons because you can spend on it and just wipe those charges off at once in each and and they were like Yeah Brian. We don't think most people are going to use it for helicopters but even you know word dog owners you can use it for the vet bills. which Leeann I both have French bulldog? The man Arthur amazing money. We always dog are you. Do you have a dog. I have two cats cats. Do they get along. Yeah most most of the time they get along long and do you have a favorite I do have a favorite Riley Fan. Favorite is Anthony so shadow to anthony. I have a lot of Bodega cats near me when I go for walks and it's like probably my most most popular thing on instagram stories. It's kind of amazing. So Meredith. Explain a little bit more about preferred reward. What counts as a deposit and then what are the bonus levels that a consumer humor can get by hitting those levels? Yes I mean the way it works. Is there different. Thresholds depending on the amount of business you do with us and it's combined business and this is what's really important and so it's either having a deposit account or if you have a merrill investment account you don't have to have both she's doing business with us at the different thresholds and you get different level of rewards awards depending on it and it's a multiplier effect in terms of the amount Bonus that you get on your credit card as well as we get interest rate boosters and other types of AH benefits and really it's as the more business you do the more the rewards grow and I'll tell you these folks are enrolled in this loyalty program we've got a very high retention rate ninety nine percent retention rate because the rewards are so rich as well as they're more likely to recommend bank of America so satisfied with the
"bank america" Discussed on WBZ NewsRadio 1030
"The of JP Morgan chase is testing out a new kind of business investment in the city of Detroit the idea grew out of diamonds interest and changing the way the bank was engaging in philanthropy he wanted to try and tackle a major national issue like urban poverty by applying the same kind of expertise and analytics to the problem that the bank uses to advise big corporations his first target he said would be the city of Detroit just after it filed for bankruptcy so the choice is probably one of the biggest failures of American city that we've ever seen my view was why can't we make Detroit example of American exceptionalism have people roll up the sleeves get together and change the tide history right there right now so in two thousand fourteen Jamie Dimon picked up the phone and call the then new mayor of Detroit Mike Duggan my assisting came in and said Jamie Dimon is on the phone and I said that's an amazing coincidence that's the same name as the president the biggest bank America says I think it is the JP Morgan chase I didn't have any idea Jamie Dimon knew who I was so I picked up the phone call is local I just know no warning and I recognize his voice he said I want to help the city editor for mayor Duncan the phone call was about as unlikely as his victory just months before he runs surprisingly as a write in candidates becoming the first white mayor of Detroit in forty years in a city that's nearly eighty percent black described to try when you came in as mayor half the street lights in the city were out how to get street lights fixed a third of the buses when the garage broken down people were standing on street corners for hours waiting for a bus there were only eight working ambulances in the entire city there were times you can wait an hour when you dialed nine one one and between two thousand and two thousand and thirteen two hundred fifty thousand people left the city to try I mean that's more than the entire population of the city of buffalo so if you can imagine everybody in buffalo leaving in thirteen years leaving all the buildings behind an empty that's what Detroit experience leading up to bankruptcy this is what large parts of Detroit looked like a bomb don't war zone abandoned factories boarded up houses initially diamond agreed to spend a hundred million dollars not a lot of money for the bank for Detroit he knew the JP Morgan had something in a way more valuable so it's not the money in this very important thing he was about the help the advice the consulting the ideas the human capital and it was about the data that the bank collects and crunches every day more information about business and consumers then the government collects use big data and artificial intelligence and run your business around the world for risking credit marketing so here we actually have she dated to about how people spend their money where their credit cards show actually see where people spend money on credit debit cards and checks and we have this pain like a restaurant six cetera that one piece of data great we could open a store where you can do something different diamond had the analysts build a database just for Detroit so we know in a certain part of town.
"bank america" Discussed on WFAN Sports Radio_FM
"Cancel the insurance company affiliates price and coverage match limited by state law Hey is this a flex and bank of America wants to know what would you like the power to do I'm speaking with Larry do read up regional president from bank of America do you see thanks for coming thank you this city is a city full of dreamers and entrepreneurs how can bank of America help one of the ways the bank America supports small businesses to listen to small business owners about what's on their mind so the way we bank of America starts that conversation with our customers is what would you like the power to do and when BankAmerica asset question it begins a conversation so the dreamers can come and say Jeez I'd love the power to own my own business what would it take and we can sit them down with the bank of America specialist someone who can help them plan their finances bank of America better money habits program the bank of America lending and investing programs and so the dreamers welcome to bank of America because we're here to help them live their financial lives and that's our purpose thank you learn to read it so what would you like the power to do find out how bank of America can help you at bank of America dot com or stop by your local branch Ross Tucker here from home at home on the radio dot com sports digital network to tell you about zipper greeter listen hiring used to be hard not anymore hiring can be easy you only have to go to one place to get it done ziprecruiter dot com super send your job to over one hundred of the web's leading job boards but they don't stop there with their powerful matching technology zip recruiter scans thousands of resumes to find people with the right experience and invites them to apply to your job zip workers so effective that four out of five employers to post on ziprecruiter.
"bank america" Discussed on WFAN Sports Radio_FM
"Bass in home wifi that you can control with Xfinity X. by see who's online pose your wifi or even set a curfew for the kids that simple easy also. which to Xfinity today and get a great offer you'll get fast beats and the best in home wifi experience with Xfinity X. five plus enjoy great coverage throughout your home and on the go even manager in home wifi network from anywhere when you download the Xfinity X. by go to Xfinity dot com call one eight hundred Xfinity or visit an Xfinity store to switch today restrictions apply. Hey is this a flex and bank of America wants to know what would you like the power to do I'm speaking with Larry di Rita regional president from bank of America do you see thanks for coming thank you this city is a city full of dreamers and entrepreneurs how can bank of America help one of the ways the bank America supports small businesses to listen to small business owners about what's on their mind so the way we bank of America starts that conversation with our customers is what would you like the power to do and when BankAmerica asset question it begins a conversation so the dreamers can come and say Jeez I love the power to own my own business what would it take and we can sit them down with the bank of America specialist someone who can help them plan their finances bank of America better money habits program the bank of America lending and investing programs and so the dreamers welcome to bank of America because we're here to help them live their financial lives and that's our purpose thank you learn to read it so what would you like the power to do find out how bank of America can help you at bank of America dot com or stop by your local branch..
"bank america" Discussed on WFAN Sports Radio_FM
"York. knock some projects off your to do list without having to do them yourself every day over a thousand homeowners turn to the home depot home services to help install carpet heating and cooling systems shed nearly any home improvement project visit home depot dot com slash service and go from to do to done with license local pros backed by the home depot more saving more doing for license information only but a complex license numbers. use these a flex and bank of America wants to know what would you like the power to do I'm speaking with Larry di Rita regional president from bank of America here in DC thanks for coming to America thank you this city is a city full of dreamers and entrepreneurs how can bank of America help one of the ways the bank America supports small businesses to listen to small business owners about what's on their mind so the way we bank of America starts that conversation with our customers is what would you like the power to do and when BankAmerica asset question it begins a conversation so the dreamers can come and say Jeez I'd love the power to own my own business what would it take and we can sit them down with the bank of America specialist someone who can help them plan their finances bank of America better money habits program the bank of America lending and investing programs and so the dreamers welcome a bank of America because we're here to help them live their financial lives and that's our purpose thank you learn to read it so what would you like the power to do find out how bank of America can help you at bank of America dot com or stop by your local branch..
"bank america" Discussed on KNBR The Sports Leader
"Some larger goes for the two thousandth win in Bruce but she just might give it to him to spell right quite well this year that's supposed to let him go past five taking these guys on anyway let's just see one against ten thousand steps in yeah he was not happy at all last night man during the game he was riffing afterwards but during the game and his blood pressure was boiling I funny just got the roads and then we got a lot to do we're going to go get more speed Toronto when it's not nice no stopping us we're gonna be it's it's our bills about thirty minutes but it's where my going we're gonna their annual hall today you're going to enjoy that very much go Pat the read our backs that you on the head you'll see it okay yeah we got. traffic is sponsored by cache creek star year with some fortune cache creek the year of fortune every Saturday and Sunday at six to nine PM someone will win eight thousand eight hundred eighty eight dollars plus on February seventeenth someone with a two thousand nineteen Lexus your fortune only at cache creek visit catch produk all for more information let's check on the roads for the children auto body traffic this delays continue for the North Bay where I we won twenty one is that one way traffic control all morning long your duty grow because of overnight road work that ran long and so while traffic is improving it is still very congested there in both directions and it's impacting highway twenty nine in both directions approaching one twenty one northbound one on one with the scene Vinson's drive right two lanes are blocked due to a major crash there you're backed up to the Civic Center in the South Bay highway one fifty to shut down still yet to Bloomfield in the Gilroy area due to a major crash if you're on north down six CD into Danville before sycamore valley road correct as movie shoulder slow from crow canyon and then heading into San Francisco were backed up into the maze metering light still on at the west found a bridge. traffic was sponsored by red with credit union read would credit union has free checking and that's actually free that's free which means no fees plus access to more ATMs and bank America and Wells Fargo.
Latest from the Stock Market
"I'm Melissa Leo Best Carter Worth Tim Seymour's Karen fighter men and guide dominated Tommy. The countdown is on its apple's big event tomorrow. Will it be enough to convince enthusiasts the world over to trade up in the middle of trade war also ahead activists investor. Elliott management taking a three billion dollar stake in at and T. A. Saying ix nay on the bank they see a sixty percents upside potential traitors take a second look and Boeing pausing using stress tests on its new triple. Seven after issue is discovered. We've got the details ahead. We begin with the Big Bang breakout on the day. The S. and P. Five hundred ended in the red checkout. He's he's moves from City Bank. America Wells Fargo David Morgan all firmly in the green for wait a minute. It was just a few days ago. The racer plunging yield curves inverting cats and dogs living together together and now look so the banks turned a big corner guy this desk by the way cats and dogs living together guy who's not sorry sorry who had a cat or a dog. I guess well how good question to answer on TV well. Let's go to the marketplace Sultana think they've turned the corner at all but what happened is everything got a little ahead of itself and it's not like we haven't talked about this. We're not saying this in a vacuum. Go back Tuesday. I think before Memorial Day we actually power-pitch some of the banks specifically it was city saying that you know what boring markets slow week into a holiday markets probably GONNA rally the toto's probably gotten and ahead of itself when city trades that discount to tangible book historically over the last couple of years. It's been a buy and that's pretty much what's happening. I mean I don't think again. The landscape has gotten better for the banks. Necessarily just the trading landscape in the short term has so the city have more room yeah probably overshoot seventy two like it undershot to sixty one but I think the the headwinds that they faced still exists today are some rays of sunshine based on what the CFO told the Barclay Financial Services Conference today that they expect growth in the back. AH The year that there are other parts of the business that can offset some of the losses or the softness in sort of the rate sensitive businesses so can you sort of extrapolate that some of the other brings thinking. Maybe things aren't as bad as people thought yeah I think I think that what the price they were trading at before. Two days ago really reflected a lot of things so I don't think I more that a lot of bed extra too much penalties there. I think if you think about where Citibank was trading you know well under ten times earnings a three percent yield. JP Morgan tend to change times earning a three and a half percent yield Bank of America under ten times earnings. I mean that's a lot about news priced in and their business models aren't all interest income right. There's a lot of other income in there as well so I think you know the market just saying Oh the whole book of Big Money Center banks is a giant two year tenure spread it must be going to zero didn't make sense. I'm not selling them here. I think they're still attracted. I'll actually question because we've had one kind of from a market position. Technicals Protective Talk and fundamentals. I'll talk to you the context of the overall market this this could you could make a comparison to the first quarter twenty sixteen when we're worried about global growth and banks essentially got through this period where once we got the sense that recession was off the table banks want on argue a very historic run for them relative to at least the cycle. Citibank's up thirteen percent eight days. It's up close to sixteen percent in sixteen days if you look at the X. L. F. It's basically kept pace with the SNP. Despite all of the things things that have happened to bank so the most important thing that happened today and I hate hyperbole may but I will tell you I think this is one of the most extraordinary trading days of the year that no one's talking about impressive was flat and yet you had banks three percent. You had expertise three and a half percent. You would transfer this is a major day for the march is not about the banks banks right. It's a behavioral thing. Is You look at the one hundred. What was the best performing stock the more beaten down. You were the better your slumber J. Lead. You Got Simon Property. You've got things like I mean in hindsight which is literally down eighty percent. Ge in the top ten so it's it's not a bank story although it is that's part of the story because they matter the most. It's simply dead. Cat bounces and dead cats do bounds but do they really come to life. No they're still dead heartbeat. It was more about deflation isn't as bad as you thought. I'm not going to tell you that deflation because I believe it's there's some stuff as leftover from the crisis but but deflation as it was exemplified and illustrated through bond yields around the world through gold going through the roof through everything else that was related to acid replacing going through the floor. The rally today are asset based their reflationary based and that's very exciting sites the retail these are retails that won't exist at some point in three five seven whether it's an urban outfitters. Tayo Ay and it's again it's it's it wasn't specific the banks the fact that it was craft. Ge tells you it was just an unwinding. If there's two sides here on this side of the desk extraordinary training day or just dead cats that's bouncing to make extraordinary trading day in terms of the move in yield terms everything he pointed out was extraordinary the context of what we've seen but I tend to sort of I I well. It should come as no surprise ten more with Carter Worth. I do think these are bounces within the framework of things that have just been oversold. I mean you mentioned Simon Properties. These go back and look where it bottomed out in April. Two Thousand Eighteen look where recently bought them at so you can understand the bounce slumber. J. has been left for dead. I mean we've talked about it. Seemingly for a year and a half trying at least I have tried to ascertain when the bottom would be unsuccessfully. We've seen moves like this before. This will be so again. I guess the fact that the SNP when he was unchanged today bowls could say what that someone constructive bears could say it should have been up twenty five handles on a day like today the other flipside of what happened today was growth oath at any price which had been where everyone wanted to go no matter what terrible complete reversal names like crowd strike or zoom right just absolutely getting annihilated highlighted today so you're just a rotation is just everything that didn't work now pile into that everything that did work time to bail but the question is exactly. I can't can't be in a crowd strikers in there too expensive. They're expensive. Yes two days ago even down ten percent too expensive for me. I think would momentum goes out. Those kind of names have were down to maybe more it's not. It's not terribly surprising that a crowd strike in company and their ilk are going down. Maybe on a daily today or just not rallying as much what's been interesting. Is that Koogle Amazon anything. That's been defensive relative momentum but actually you know they. They tend to be low momentum. Stocks in in difficult times in the market are under performing to Carter cares rights talk about. I don't know anything changed slumber J. in the last week in fact I think lenders as got some tough times ahead of them but when I look at some of the other parts of the market including the transports that are very real companies that are not going out of business that I don't think they're dead. Cat bounces. I'm not saying the world has gotten better in two days. I'm I'm telling you that it's always about positioning. It's always about where I think. The market momentum is we've got an ECB meeting coming up in a few days it's also going to I think help tell the tale of work. Global yields yields go because I think that the European Union is the one that was dragging global yields down and we know that the machines momentum is on both sides momentum down or some momentum up in if I go and when it flips. It's the you get these levers going on both sides but it doesn't usually last that long. At what point do you think I mean. Would you would take a lot of time and a lot more of this kind of thing. Because we saw the bouncing we saw in the certainly bouncing today. You just need in a lot more than I I agree cars. I don't think anything can you can't say suddenly it's it's all good for all these things that have underperformed for long time but for the last three weeks we've seen the DAX ax outperforming the machine emerging markets outperformed so This isn't a one day phenomenon today. It was a bit of an exclamation point on things that really suffer from deflation all right her neck. Scott says you may WanNa pump the brakes on the banks especially ahead of next week's. Fed Meeting joining us now. Steve chaperone equity strategists portfolio manager at Federated Investors Steve Great Great to see you again. so is it just the banks or is it all of these sectors that were dead cats bouncing Carter. I don't know if I'd do as far as the dead cat I. I'm somewhere in between I think Carter and Tim here and what I mean by that is it's very enticing when you look at the move in the banks today and you put it in the overall context then that context has rate rates bottom two weeks you go and have moved higher. The city surprise index bounced into positive territory week ago and value in general has moved up so there's an inclination to want US okay this is. This is the move in the value cyclicals that we've been waiting for. I think you need a little bit of confirmation on that. I think you need see what the Fed does in a week. I think they need to deliver against market expectations I think. ECB similarly has to at least provide some some delivering. I think this meeting is not as important as the one that comes in November when Christine lagarde takes over but move the ball forward and then I think you need the data that continue to come in strongly. If what we're talking about is a global reflation trade because the stimulus that's been put in the system helps the economy to move in the in the back half of the year. That's incredibly bullish and so I'm enticed by it but I'm not willing to kind of jump all in on it just yet so how are you. How are you positioned in the market right now. It sounds like like your you want to see how the data plays out. It sounds like you think I mean the federal probably cut twenty-five deliver on something that's sort of in the expected realm the the data is a little bit of a question mark at this point. So what do you do you think about the market right now is really a battle between the P and the right the P. should be higher. We've taken the discount outrage for stocks and we've cut it in half the only reason why the market isn't higher is because the market's concerned about recession and so they're worried about that e part so I think what it really comes comes down to is how our earnings gonNA come through and that's why trade matters. That's why Hong Kong brexit matters our view. Is that our base case. Scenarios earnings are going to be okay. They're going to be flat right to slightly up. You're going to get a revaluation higher because of those lower yields and that's where you play out over the next six to twelve months however over the course of the next month or so. I WANNA WANNA see how that goes. I want to see how the Fed goes. I WANNA see how earning season so when we were here earlier in the year we were eight percent overweight.
"bank america" Discussed on WFAN Sports Radio_FM
"Bank of America here in DC thanks for coming to America thank you this city is a city full of dreamers and entrepreneurs how can bank of America help one of the ways the bank America supports small businesses to listen to small business owners about what's on their mind so the way we bank of America starts that conversation with our customers is what would you like the power to do and when BankAmerica asked that question it begins a conversation so the dreamers can come and say Jeez I'd love the power to own my own business what would it take and we can sit them down with the bank of America specialist someone who can help them plan their finances bank of America better money habits program the bank of America lending and investing programs and so the dreamers welcome to bank of America because we're here to help them live their financial lives and that's our purpose thank you Larry di Rita so what would you like the power to do find out how bank of America can help you at bank of America dot com or stop by your local branch let's say you just bought a house bad news is your one step closer to becoming your parents which means you're going to start telling your kids to clean up before the cleaning lady comes doesn't make sense but you're the parent and they're the kids you're gonna start telling them that too good news is it's easy to bundle home and auto through progressive and save on your car insurance and there's your opening to remind them who pays the bills around here progressive casualty insurance company affiliates and other insurers discount available in all states or situations it's boomer NGO mornings on the fan in that hotel never forget this we had to get up.
Russia, Europe And Telecoms discussed on Financial Issues
"We've gotten to the end of the week Russia thirty minutes since the equity market open off to a wild week the stock six hundred is up six tenths of a percent off the two days of declines looking at industry groups what you're seeing is one of them actually in the green utilities tech and telecoms and healthcare leading the gains that's interesting that defensive sectors I seem to be out performing some of them at least on Europe's equity benchmark I we've had a notification from the and I see that as a delay it to the opening of foot see one hundred and two fifty seems to be due to some technical issues so we don't have forty one hundred trading at the moment CAC forty up seven tenths of percent know the tax also in the green up eight tenths of a cent on the ibex on foot see may also trading higher worlds of seeing a some green on the screen it with the U. S. futures S. and P. five hundred even ease up seven tenths of a cent nasdaq futures high by almost nine tenths of percent in Dow futures up six tenths of percent wild swings as what we saw on the S. and P. five hundred yesterday but we did manage to eek out a gain of a quarter of a percentage point in the end off to plunging three percent the day before of course that came off that historic in version of the two's tends yields because for the first time since two thousand and seven if we look at the two stands right now we're at three basis points were back in positive territory the question becomes do we we invite and if we do do we stay there for how long it is it really the re steepening off to that that you truly need to fear the ten year drop below one point five percent for the first time since twenty sixteen yesterday we back up three basis points I'm on a one fifty six handle but we have talked about twenty basis points will not ten year yield this week and the thirty eight year old has dropped below two percent for the first time since twenty sixteen were up four basis points now on a two a one handle we've seen to the ten year JGB yields hit negative twenty five in this session we close at negative twenty three though ten year bund yield at negative seventy but we are seeing some back up in yields across Europe generally in terms of other safe havens bank America has said that we've seen a huge inflow to safe havens vertically this week Dalian flat now though one of six sport twenty and will bear out she heading for a weekly game demi Saiyan brands both of more than one percent step which I fifty five spot nineteen printed fifty eight to spot ninety
"bank america" Discussed on Biz Talk Radio
"As an aside two more American Express bank America bank in New York Mellon Comerica Morgan Stanley PNC bank U. S. Bancorp eBay IBM net flex for tomorrow get ready to be one hell of a ride more on this and that and the other thing and whatever thanks hi I'm Jay Farner CEO of quicken loans America's largest mortgage lender I've got great news mortgage interest rates have dropped so if you're thinking about buying a home right now is the time to lock that low rate even before you find the home of your dreams with our exclusive rape shield approval the low rate you lack today is protected for up to ninety days while you shop for your new home with a racial approval if rates go up your low rate stays locked but if rates go down you get that new even lower rate either way you win talk to us today at eight hundred quicken or go to rocket mortgage dot com to take advantage here's another great reason to work with us for a record nine years in a row JD power his right quicken loans highest in the nation in customer satisfaction for primary mortgage origination again to lock in today's low mortgage interest rate and get the security of our exclusive rape shield approval call us today at eight hundred quicken or go to rocket mortgage dot com for JD power award information visit JD power dot com racial approval only balance certain thirty year fixed rate loans copper because information conditions equal housing lender licensed in all fifty states animals number thirty thirty this is an urgent help notice for all residents suffering from back neck NY and wrist pain you may qualify for a pain relieving brace at little or no cost to you but the deadline is fast approaching simply call the health alert hotline now you heard.
"bank america" Discussed on Biz Talk Radio
"Also, some of the things I'm seeing. When you have a chance look at Bank America, look at Citi group, look at Goldman Sachs trading very tightly over the last few weeks. Next move is going to win. Very tightly. And of course, we watched those financials closely, I mentioned the semi conductors to just didn't pullback mode here. Nothing wrong with that. Got to work some of that. I continue to be asked by you guys about the numbers. That are coming. Economic numbers. Well, again, we're the best of the lot. But around the rest of the globe. Not so good. It's just not affecting us. It's just not affecting us yet. I do not think in any way, shape or form we're going into recession. Though, some do. The perma bears continue to bang the drums. That the end of the world at hand. I'll let you know at the end of the world is at hand. Typically, the markets dot go up. If the end of the world is at hand. Just remember that. Simple thought process. Market's pretty damn smart. I believe. At of course, some paper, by the way. The easy money that continues to do the trick. That was not just a Rodney Dangerfield movie. It's what continues to go on. Both here and around the globe. I'm also being told by some of you. Well. If the market. Starts heading south. It will be telling us the recession. Yeah. Baby. Ibaka with that. By the way, last twenty four robot calls today. I don't answer any of them. Now. Good at that. I just let them ring. How does that happen? Robot calls. The..
"bank america" Discussed on News Radio 920 AM
"Think the world just got wait who negative and look I've been living and breathing this because I'm long both of these name. I've been long Bank America really for year. And just watch it kept going down my subscribers add to it. Same story with golden. I said, you know, the headlines are terrible around this whole Malaysia thing and embezzlement. Federal, but you know, golden got down to time. Earning. And I know it's very easy to just say, oh, they're bad guy. You know? Goldman fact, the vampires at six times earning you buy those bad guys because they also have the very Mark guy. And you know, I think we're finally getting some redemption and realizing there's not a recession around the quarter. The average American consumer doing pretty well the economy is doing really well, there may be a slowdown. But you know, banks are levered to the economy more. So than almost any other factor in the economy, and I think this is just proof positive that concept, and it gives us a little comfort to not only bailing. But even you know at some of the long as we get into twenty nine hundred I wanna talk to you a little bit about the the ongoing shutdown. I suspect this is an area where we may have some differences in that, you know, what we're starting to see is not just for the federal employees that aren't being paid. But contractors that do business with different agencies are able to be paid simply because those agencies are shut down. And so we're starting to see the spilling into the private sector a little bit as well. Now, I'm curious your thoughts as to how this is impacting the overall economy at this point. My guess is that what's ultimately going to happen is some sort of resolution the government will reopen and all the back pay. The people are do will ultimately find it way into people's account. Now, unfortunately, that's going to create a little hiccup between now. And then we don't even know when that it, but the president did signing order thing that everyone will get eight eventually what probably happens that some of the kind of discretionary purchases get postponed. Okay. If you don't have the money coming in. You're probably not going out to dinner. Right. So.
"bank america" Discussed on Masters in Business
"On Bloomberg radio. Welcome to the podcast. Lynn, thank you so much for doing this. I am a housing. Geek, I'm really fascinated by this topic. I brought a book for you that was the manifestation of of that geek DM cold bailout nation, but one of the things that I think listeners should be aware of relative to the conservative ship of Fannie Mae. And Freddie, MAC was when the feds rescued the two GS's they put a whole bunch of conditions on them. They're not allowed to lobby congress. There's just a whole run of things they couldn't do for some reason they couldn't remember congress never got around to putting the same sort of restrictive conditions on Bank America, or Goldman Sachs or any of the other big entities that were lobbying every bit as aggressively as the GS's. Essy's were pre crisis. So they kind of imposed one set of rules for the GS's and ignored the banks roles in lobbying congress for some really. Let's just call a generous regulatory oversight that that contributed in some way to the to the financial crisis. So a lot of questions that people who know who I am and what I've written about right around. Now, they're probably thinking how come results is asking him any of these questions? It's because you're not allowed by congressional mandate to discuss that m I over stating that or aside from the fact, you weren't there during the crisis. But there are restrictions as to what you can publicly state. Are you allowed to answer that or you restricted on that I can answer that Barry, I mean, one of the things I try to do. And I think is important is not, you know, over specify what my expertise is. So I'm focused on the housing and mortgage market, the economy the economics of that the policy stuff, that's really other groups if need an economist talk about what might be the policy economic implications. I might do analysis, but but a lot of that is sort of not my area. And so I try to. Stay in my lane and focus on the economy. What the mortgage market is doing totally fair. We understand that. So let's let's stay in your lane. And stick to it the one question, I don't know if you can't ask. But I think it it's really intriguing. For a long time. Homeownership was the cornerstone of the American economy speaking generally within your lane. What are your thoughts about this is is the housing safter still a key part of the economy is going to continue to be for the foreseeable future. How do you how do you fit this into the overall? Economic growth that we're seeing. Yeah. You know, a couple of years ago, HUD, housing urban development. They put together a publication invited some researchers to write on the provocative title could the homeownership rate in the United States fall below fifty percent so Brown. What does it currently run sixty four percent? And that was peaked almost like sixty nine nine. Yeah. It right in the middle of six seven something like that. Yeah. Yeah. Actually peaked in. Oh four and then in no six again, it sort of hit around that sixty nine eight double top. Okay. But they were they were really focused on this analysis. Say no could the homeownership rate drop to levels that we haven't seen since the nineteen fifties. And so we took that up and did some analysis to try and see and look at that and say that doesn't seem the case. I mean, it may it's unlikely that the United States is going to see a homeownership rate of back around sixty nine percent, given sorta demographics and other forces. But I think there's some upward momentum because we've got an aging population that tends to have home ownership and the. Populations..
"bank america" Discussed on Bloomberg Radio New York
"You so much. Greg Jarrett is gray was talking about. We do have a rally underway. Joining us to talk about it is Dave Wilson, Bloomberg stocks editor columnist and blogger mlive go on the Bloomberg joins us here in our Bloomberg interactive brokers studios in New York, David sort of interesting, how we are getting this broad based rally, and yet we're getting downgrades to expectations from another a slew of companies and thinking of in particular constellation which came out today as well as Lanar, how do you square these two realities? Well, I mean one way to do. Just to look at one or shares are up. I know one percent. I don't totally understand that it may just be that people were expecting worse in the case of Lenore. Also, you know, you had kidney w come out raises rating on DR Horton, one of Lindores competitors. And talk about how they expect sentiment in the industry to become more favorable. So that may be playing out in Linares cases. Well, and the idea that, you know, the results aren't necessarily as bad as people were looking for that not only maybe what's happening with the art. But also with skyward solutions to chipmaker one of apple suppliers for the iphone. They came out reduce their earnings and sales estimates for the current quarter in Bloomberg intelligence the analyst over there. Woo Jin hotel about how people were expecting a lot worse. So you got the stock higher even in the face of lower estimates. I mean, it was sort of a given I suppose with. Apple's challenges of selling the iphone that numbers for its suppliers. We're going to come down. And you know, what you guys situation where it's not as bad as people were looking for. And you got a whole lot of technology stocks doing relatively well. In today's trading and sky works is one of them. They tell us about the Bank stocks because I know that you've been looking at those this morning, right? I mean, you're you're seeing a bit of a turn at least for today in terms of what analysts are having to say about the banks lately. It's been cuts to ratings cuts. The earnings estimates cuts to share price projections. Bank of America. You had UBS raise its rating to buy from neutral. You had with Morgan Stanley. They were lifted the buy from hold at CitiGroup, and stocks are up, you know, on a day when you know, if you look back to yesterday, financials were sort of the weak sister of the gains that we saw van today. It's a different story financials of holding up their end Bank. America's up half a percent, Morgan Stanley's up nine tenths of a percent not much in the way, gays. It's just that they're moving more in line with the market, you know, after the series of not so great calls for man was weighing on the earlier in the week. So here's what I'm trying to understand right now. We're seeing a sort of more bullish line from Wall Street analysts straight out about risk assets. Is this a tactical recommendation or is this a longer term recommendation? In other words, is it by the dip temporarily? If you're just basically trading the market, or is this a, you know, this is a good entry point the US economy is still very strong over the next year. At least so go forth and prosper possibly more tactical than anything else. And I say that because actually our reporting on Citigroup's call him Morgan Stanley talked about how the Keith or what's wrote that it's a tactical time to buy the stock. So so that only they said it was tactical. Absolutely. So they go. And look there are a whole lot of concerns. You know, if you think about things going forward, you know, what is going to look like. And of course, those first quarter report start hitting next week. And really in the next few weeks. What will leave their Mark on companies results? What are the earnings? Look like was he look like how does the trade situation play out there? So many questions that you would think that any call you were going to make at this point would have to have a certain tactical element to it in a sense of being shorter term rather than longer term because there are so many unresolved issues at this point, you talk about unresolved issues the trade negotiations between the United States and China. They continue is Wall Street just looking for a positive outcome, or at least a not negative outcome. Just as you describe with certain earnings estimates they reduce them, but not as much as people had feared. And as a result. They bid the price of a specific stock up. Can you make that case for the whole market that everyone's just? Waiting for a US China trade something hoping it's not bad, and that's going to unleash more money. That may well the feel it's hard to get a read on exactly what the broad consensus is nonetheless. And then we have seen you issues. Pop up with a number of companies higher raw material costs is an issue, for example, because of the tariffs that have been put on things like stealing aluminum. So you know, to that extent, it may just be that some kind of relief his people looking for more than anything else. I thought it was really telling there was a story on the Bloomberg looking at how President Trump wants a trade deal with China in order to boost US equities, basically, he views the US equity market is a gauge of how well his government is doing. And I'm trying to understand the implications of borrowing costs for the United States as a result because we have seen an inverse relationship between stocks and bonds stocks rally to bonds. Typically sell off meaning higher borrowing costs. I just wonder at what point will that lead to a sort of a break in his talk rally at what point does this become a feedback loop? Yeah. And that much harder to get a handle on because you know, when you think about where does the loop kind of come into play think about things like capital spending and aimed to what extent companies are gonna be willing to do that. You look at the company like say, Chesapeake energy, and they're actually cutting back their capital spending and people like the shares are higher in response to that. And then there's the issue of stock buybacks. I mean, how often we talked about the last couple of years the extent to which companies have been able to borrow and then turn around and use the money to repurchase their shares. So share buybacks of linked to trying to get the stock price of a specific company higher. And we know that chief executives and other executives of those companies they get compensated based on what the stock price. Does. It doesn't matter. Whether they're fewer shares they get based on the actual performance of the stock. Sure, they have an incentive to do it. No question. But at the same time you have to weigh that incentive against the cost of carrying out the program. And to the extent that you're relying on borrowed money to do it higher interest costs get in the way are just saying that it's not their money. It's not the executives money. It's the company's money. Well, it's the shareholders look at it that way. That's that's certainly true. All right. Thanks very much. Dave Wilson, Bloomberg stocks commerce blogger mlive go on the Bloomberg. Remember to send Dave an Email at dwilson at Bloomberg dot net and sign up for his daily free Email newsletter. Now, let's go to our ninety one studios.