Need and it is energy and tesla, paypal, square a lot to talk about. Your traders are not here. But i still know who they are. And the top story has been Energy Following the killing of the iran general on friday and the last couple sessions, the loss has been wiped out because the world is still awash andoff supplied in the price of oil. Weve been speaking to the biggest names about what is going on and why we did not see a bigger spike weve chatted with ceos of chevron, patterson gti, marathon oil, their first interview in more than five years and pioneer will be airing on Worldwide Exchange tomorrow. Lets talk about oil and gas as well speaking of chevron, that stock fell along with oil. Not just because crude oil fell, but because bank of america and Merrill Lynch downgrading to an underperform so guy, are you surprised at like the question we asked every ceo here that the price of oil has not spiked higher given what happened on friday enjoy yourself down there, thanks for invitin
Jamie dimon making the headlines on the call this hour. Five of the National Banks do not have plans sthould there be a winddown. What does that mean . 40,000 verizon workers are on strike. First up, jpmorgan, better than expected First Quarter results due in part to weakness in trading and Investment Banking. Jamie dimon calling the results solid. He goes on to say, quote, the consumer businesses continue to grow loans and dposs impressively, attracting depo t deposits faster than the industry. Theyve shown some slides on delinquencies which continue to get better and better. Right. But i think also we continue to forget there was a rate hike and one was great for them. You understand if we had multiple, wed talk about stocks going 66 to 70. I even been focused on oil and gas loans, and ive got to tell you were now in a position where in the rear view mirror, the reserves, oils have gone up so much. Remember theyre going to be able to sell a lot of futures. Look at all these deals. A
and we ll talk more about that ina i moment and meantime europe giving back some of the gains from yesterday and mostly red arrows across the continent there this morning. the dow and the s&p coming off of those record closing highs and we are now six points from the s&p intraday record and will that set us further away from record territory. weighing on the s&p today is conagra. it is leaving investors hungry for more. the company falling short of expectations and we ll talk to jim and break down what it means for your investments. the king of pop, michael jackson. we ll explain why pimco s bill gross is taking a closer look at the man in the mirror. plus, capitalizing on the boom in natural gas. one ceo sounding off to jim cramer last night on mad money and we ll have the details. first up, we ll begin with the markets the morning after. both the s&p and the dow set new record closing highs. the index within six points of that all-time intraday high of 1576. new job
at a four-and-a-half year low. they are contracting for the 11th consecutive month and japan is highlighting trade concern over tensions grow between the two countries. norfolk southern has reached critical mass. we could be looking at negative profit growth for the first time in three years. big calls on bank this is morning. ubs cutting citi, goldman and morgan stanley after continued uncertainties. bank of america also accelerating job cuts by year s end. and congress is on the case today holding hearings with a whistleblower saying the industry is stacking the deck. back to china here. futures moving lower on global concerns involving china. new data out today showing manufacturing in the country contracted for an 11th consecutive month though activity is up slightly from the month of august. jim, this just seems to be the continued drum beat of the economic data points around the globe. then pile on top of it the week data out of japan and this impacts the trade
expectations looking forward 97.3 in june. slightly light compared to consensus forecast of 99.8. we should just mention the zew survey earlier was negative. conditions in the u.s. sharply negative. this in some ways by only falling slightly below expectations is somewhere a positive. i think that too. current conditions again slightly better than anticipated. the forward looking ones are the weak ones. james bevin is with us for the full hour. chief investment officer from ccla investment management. hi, james. how closely are you watching the data at the moment? very closely. an awful lot going on. you can t keep your eyes off the data, can you. fascinating. what s your impression of this particular survey? everybody is thinking that short term sentiment surveys are very significant. the real issue is mrs. merkel holding out big treaty changes. i think the latter. i think she s playing a long game. there s lots of room. why? done she know this will potentially h