i like the morgan stanley story. the evolution of the business has been tremendous and yet the valgs hasn't changed that much i like morgan stanley. i think it falls into the value bucket and i am a believer that we will see that value creation next year. >> guy, what are you thinking? >> first of all, tim has been on this i will let him speak but morgan stanley i agree dan nathan a month or two ago said it was one of the best looking charts he saw. we said above 57 this is off to the races and that's exactly what has happened. i hear what chris is saying over the last 20 years, but over the last 20 weeks this has been a monster and i think it will continue to trade higher >> tim seymour >> iron ore prices are nine-year highs and china is reaccelerating bromance is back this is a 20-year story. i was a heavy investor as an em guy. this is exciting to see. it was a bad trade more importantly, steel prices going higher up 70% in the last three weeks those are the trades that still excite me. >> base metals like copper

>> i own morgan stanley and goldman sachs. if you're saying get into it now, i think you're a little late on that. jpmorgan, citi, they've been performing well recently but they need the benefit of a steepening of the yield curve and the understanding of the incoming president-elect biden's administration, what is going to be the temperament towards the financial sector? will there be regulation implemented further it and what we've seen over the last four years or not? i need to have an staunting of that before i'm able to expand my ownership beyond morgan stanley, which i would. >> how sad is that that you have no optimism towards fresh money going into the banks. i get the run over the last month, okay, is impressive for some of the stocks. not all, but some. but when you're still talking about stocks like citigroup or jpmorgan or bank of america or wells, that's such a telling statement, joe, about where the appetite for risk is within the bank sector sfl. >> i would agree with that scott. i don't know if banks are going t

it was really morgan stanley who initiated the idea. some of the streetcar vendors, who they rely on and see every day, some of the employees, they noticed they were gone, wondering what happened to them. they reached out to us at robinhood. it is really just to provide cash assistance to over 2 thousand st vendors in new york -- 2000 street vendors in new york that are suffering and have gotten no economic support throughout the crisis. vendorsis 2 thousand st -- this is 2000 street vendors out of millions. how wide is that problem? wes: it's a massive problem. frankly, it is something we have been calling out for a while. we even saw it when the proposed cares act, the initial cares act, was being pulled together. people will say there was a cash assistance element to the cares act. true. however, that left out millions of people and left them out intentionally. for example, if you are undocumented, there was no cash assistance for you. if you are a student, there was no cash assistance element. if you were working but not making enou

carla harris, vice chair and managing director at morgan stanley, thank you so much. carla: thank you very much. emily: all right, still ahead, challenge,atest chip replacing qualcomm. we will get the latest on apple's potential placement of qualcomm components. this is bloomberg. ♪ emily: oracle has said it has moved its headquarters to austin, texas, from homestead california to give more employees flex ability about where do their jobs. the software maker follows hte in leaving california. earlier this week, tesla founder elon musk said he would move to texas to focus on big projects underway for tesla. building itsrted own cellular modem for future devices commit move to replace components from qualcomm. a cellular modem is one of the most important parts of smartphone. mark, we have been talking -- you have been reporting on how apple has been working to replace intel chips and its computers. tell us more about what it is doing to replace qualcomm. replacing intel commit replacing qualcomm in its iphones and other devices. the senior vp of chip development towa

i am in the morgan stanley camp. pete does a good andre the giant camp, but morgan stanley comes out on top >> i will have to go to you, pete you are always a fan of katie, you have always liked apple. this report comes from nikkei, they do channel checks and they don't always pan out >> katie's coverage has been far more accurate. look at goldman sachs and what they have done and by the way it's not andre the giant, i think katie is hulk hogan because she is the winner. it has been consistent she has made great calls and with the production numbers we were talking about with the phone. i don't think people should focus on the phone in this case they are. when you look at where is the margin growth, it's in services and wearables. if you go back to last quarter and look at the earnings report that's what i am talking about it's wonderful this is just another cherry on top for apple right now. i think katie is right and i think she has been right and continue to be >> that is an appropriate metaphor with where you are

>> morgan stanley. you went onto ask chris if this is just in the banking space and he went onto say no, this is one of our top picks overall, high convicti conviction, the acquisition on top of the e-trade but they're moving more into the asset wealth management businesses which they are already strong and de-risk this company, i like morgan stanley i like them both but i think city and bank of america are poised to out perform here because they were the cheaper ones and have operational leverage to all the trends that we are talking about >> that's a key thing. one does not preclude the other they do expose you to different things with that in mind, i believe you like morgan stanley as well. which other bank would you pair with morgan stanley? >> yeah, i will answer questions, first the answer is morgan stanley for all the reasons that guy stated. where else would i be? citi, we outlined the argument for citi it just did not make any sense that's where we are now. i think black stone to go off the boa

you harrison, morgan stanley had a biotech research -- matthew harrison, morgan stanley had a. biotech research we now know that president elect biden -- morgan stanley head of biotech research. we have some bricking news. we now know that president elect biden will be choosing the first woman to be the secretary of defense. femaleg news, his first se (announcer) do you want to reduce stress? shed pounds? do you want to flatten your stomach? do all that and more in just 10 minutes a day with aerotrainer, the total body fitness solution that uses its revolutionary ergonomic design to help you to maintain comfortable, correct form. that means better results in less time. you can do an uncomfortable, old-fashioned crunch or an aerotrainer super crunch. turn regular planks into turbo planks without getting down on the floor. and there are over 20 exercises to choose from. incredible for improving flexibility and perfect for enhancing yoga and pilates. and safe for all fitness levels. get gym results at home in just 10 minutes a day. no expensive machines, no expensive memberships.

brian weinstein joins us now, global head of fixed income at morgan stanley. i am not sure brexit is at the top of the list for many people. this wednesday is the federal reserve decision. what are you looking for the fed this wednesday? brian: good morning, jonathan. good move on brexit, not talking about that. we think it is a real close call, 50-50, which i know sounds like a cop-out. at the end of the day we think they will not go for moving the extension of the buying. better to save it for later if rates rise, save it for dry powder. look at the world, republicans and stimulus, equity markets are doing great. linknk they will try to more closely to the average inflation target. rates.ll not raise there is a couple of things they could do to tell us maybe when they will look at the extension of the buying, the average maturity of the buying. i don't think it is a huge deal if they don't, so long as they give us some language, and rates probably keep creeping higher? jonathan: you mentioned breaking inflation exit nations creeping higher, the you think tha

we are morgan stanley. -well, audrey's expecting... -twins! grandparents! we want to put money aside for them, so...change in plans. alright, let's see what we can adjust. ♪ we'd be closer to the twins. change in plans. okay. mom, are you painting again? you could sell these. lemme guess, change in plans? at fidelity, a change in plans is always part of the plan. >>> all right. final trades in just a minute. jon najarian, first. fedex, target raised today, street high, $380 at ubs you own calls. talk to me. >> yeah, and it -- i do, scott, and it just broke 300 today and traded up to 303 it's literally right at 300 as we're speaking right now like the upside here, scott, and demand drives value in this one and the demand is through the roof i think you hold this one and continue to look for more upside. >> give you something quick. netflix. don't talk about the stock very much anymore target raised at jeffries. >> calls in this one also, scott. stock and calls. i like the upside of netflix, and i think the offerings just keep getting better really than jus

morgan stanley says you are 1.25% bysee levels of the end of next year. let me reflect back and make sure it is morgan stanley. i nearly made a faux pas. we don't want to belong. the dollar is back to flat. there is this some uneasiness about what really is happening with the number of major cities going back into lockdown, or potential lockdown. london and the southeast of england, are heading into tier three restrictions from wednesday. that is the latest news in the u.k. the authorities warned of a new variance of the disease that could be driving a rapid rise. in new york, it is heading towards a second full shutdown. as if cases and hospitalizations continue the current pace, according to the governor andrew cuomo. the u.s. again administrating its first vaccine shots yesterday. the secretary of health and human services alex azar trying to reassure the public of the safety of the vaccine. >> this vaccine has gone through clinical trials much larger than any vaccine trials. it has gone through the drug companies checks. it has gone through an indepen

vice chair and managing director at morgan stanley. your report sheds light on what you call the trillion dollar blind spot. talk to us about the continued between seems to exist talk and action. >> absolutely. i'll tell you, i'm encouraged by this report because it does show some progress from this time last year, and i do think of movement hasatter changed our minds. in fact, that's what this report says. it says vc's are now more likely to consider investing in multicultural entrepreneurs. the thing that was really exciting to me, frankly, was they75% now say that believe you can invest in multicultural entrepreneurs and still do well and have outsize performance. that is huge because if you remember 10 years ago, 15 years ago, when people first started this wholethere was question around if you could do well while doing good, and i think to have this admission now is good. there is still huge in equity. reports show even in 2019 that women received less than 4% of traditional bc dollars and people of color, less than 2%, but the fa

we have morgan stanley's chris toeyaing iom wtin the wings. we'll debate all of it next. when you switch to xfinity mobile, you're choosing to get connected to the most reliable network nationwide, now with 5g included. discover how to save up to $400 a year with shared data starting at $15 a month, or get the lowest price for one line of unlimited. come into your local xfinity store to make the most of your mobile experience. you can shop the latest phones, bring your own device, or trade in for extra savings. stop in or book an appointment to shop safely with peace of mind at your local xfinity store. >>> welcome back i'm sue herera canada has approved the covid-19 vaccine from pfizer and bion tech it's expected to get a quarter million doses and 4 million by march. >>> on michigan's upper peninsula authorities are searching for the pilot of f fighter jet. >>> this is one of the largest icebergs ever recorded it is 91 miles long, covers 1600 squares mile unfortunately, it's on the move. it could slam into an island off the tip of south america and scientists say that ic

coming up shortly, evelyn's and their of morgan's -- ellen zentner of morgan stanley, the chief u.s. economist. alongside tom keene and lisa abramowicz, i'm jonathan ferro. heard on bloomberg radio, seen on bloomberg tv, this is "bloomberg surveillance." ♪ in a land not so far away, people are saving hundreds on the most reliable network with xfinity mobile. they can choose from the latest phones or bring their own. and because they get nationwide 5g at no extra cost, they live happily ever after. again, again. your wireless. your rules. your way to stay closer together this holiday season. switch and save up to $400 a year on your wireless bill. and get $300 off when you buy the samsung galaxy note20 ultra 5g. learn more at xfinitymobile.com. jonathan: payrolls friday. here's the price action. futures just taking a little bit higher on the s&p. yesterday, a mall move lower. up 0.3% this morning. as i said yesterday, if the day ends in a y, you've got a record high. we advance this morning to take a chunk out of that, up 0.75 percent. get to bonds quickly. 30's.ens and the payroll

morgan stanley cautious near-term, much more constructive long-term. what is interesting about the moment we are in is the near-term versus longform or medium-term for the federal reserve. things improve, they will not step back in. that is a powerful message in the forecast. bob michele of jp morgan quoted mike tyson on my program yesterday and said at some point the fed will get smacked in the face by the data. can they pushhard back and say it is transitory? the pressure starts to build in the same way tom porcelli talked about. tom: in 1994 where the bank of japan, 2002, 2003. lisa abramowicz, i will still with anybody to come up with a good phrase. i think i actually came up with the pandemic partition. we are listening to the optimist , jon ferro is talking about a turnaround in 2021, and then there is the politics of the moment, the massive pandemic partition we are living. lisa: a question of what congress will do. we are expecting the $900 billion bill, at least the tex t, possibly as soon as today. what happens if yields rise, if inflation ri

mike wilson of morgan stanley, thank you very much. still ahead, house financial services committee questions for treasury secretary steven mnuchin and fed chair jay powell. this is bloomberg. ♪ chair jay powell and treasury secretary steven mnuchin are back on the hill today. they are going to take questions from the house financial services committee over the c.a.r.e.s. act. that q&a is going to start any moment, but right now would want to bring in bloomberg's international economics and policy correspondent mike mckee. we got the headline of the bipartisan deal right before the hearing started, but now a lot more conversation happening on the hill. michael: there was a lot of questions yesterday about whether we should have stimulus now, stimulus later, how big it should be. of course, chair powell ducks the question of what should be in it. ab there will be more questions they will ask some more specifics, and he will try to make the case that we should do something rather than nothing. yesterday he said we should do more rather

goldman sachs and on the other side is morgan stanley who is getting it right? the analyst's interpretation of one data point, saying the long lead time. meaning they are going to be selling 11s over 12s whereas morgan stanley says there is demand for this product. >> it is not only the demand, but when i read through, kate was talking about services and products, like the air pod max they have got that is $549 when we look at this, the fact she is focused on that particular area because of the margins and the reiteration of a sell on a stock just coming off the all time highs katie has been right and more consistent and i think she's focusing on the right thing. we all know that the 5g phone will be something that is a nice piece, the addition apple needs. but on the other side she and they are focusing on where are they getting the money and margins. i think that's the most important question and where the growth is. i still lean towards katie i know she has a price target well above where the stock is here >> it is rare to have accelerating on any stock, let

that's the conclusion for morgan stanley. why? good morning to both you and lisa. i think that where we are is the tremendous support of policies that you alluded to. monetary policy to remain extremely accommodative and we expect more fiscal policy friday.through after we are in a place supported by policy. the better-than-expected results , it all is in combination with it paying to keep the faith. trust in the recovery, go down and risk assets. jonathan: that has been the mantra coming out of morgan stanley since spring and you have been handsomely rewarded if you have done it. vaccines, good for humanity and global economic prospects, but not for the dollar. are they bad for treasuries? and if so, how bad? >> we expect to see a gradual pickup in the treasury rates. we will remain very anxious past 20 22, meaning that we expect to see the 10 year treasury curve steepen. our expectation at the moment is that over the course of next year the 10 year will go from where we are today to 145 by the end of next year. gradual, not like a spike, but a gradual increase in

nice relative breakout our favorite name in the group, our favorite name for '21 is morgan stanley no one has made any money in morgan stanley in 20 years that's changing here in a very, very big way this is a huge breakout over the last several weeks here. i think any weakness into the new year should be bought. this is one of our favorites i think the banks in general are starting to assert themselves. what we have said is it is a broad market >> chris, is morgan stanley one of your best ideas stock-wise overall or within the banking sector >> it's one of our favorite ideas in any sector, in any group, in any geography. this is one of the best charts in the market. >> chris, thank you. chris verrone. >> thank you >>> guy, that's some endorsement by chris >> it is actually i think dan spoke to this a while back saying morgan stanley looks like one of the best charts he's seen. chris and dan are singing the same tune. i'll look at citi and say we've done a good job with that one. go back to october when it was trading $42 a share. 59% of tangible book and i think we outlined a cogent

i regret telling morgan stanley candidly and i never would have sold it. of course goldman is a favorite. i've been waiting for a better opportunity to get into it i might bite the bullet at some point and buy both those thinking so i own freeport, sqn and i if i believe in the copper story, then i believe in the inflation story, then i believe in a stevening yield momentum coming to the banks >> you deserve to get in on this conversation you own bank of america, citi, morgan, stanley justice and i think this announcement just provides more if he now the banks can really role their the one piece of like about all these thanks is the wall the alternative products and the other vehicles they are selling to their customers are very proftable. everybody's got a stake here points well taken. make mayo, thank you so much i appreciate you reaching out to us happy holidays to you and your family. we'll see you on the other side. >>> straight ahead, a bullish call on one dow component. it's seen a rise offin. we'll do it next i switched to geico and got more! more

morgan stanley promises it will not cut its workforce this year despite the fallout of covid-19. delta airlines's morning cash losses for the current quarter could be deeper than expected -- delta airlines is warning that cash losses for the current quarter could be deeper than expected. it drains up to $14 million per day. they are lined says revenue would be 37% less than the same period last year, in line with earlier estimates. that is your bloomberg business flash. anna: thanks, laura. both the new playstation and xbox looks set to be hot sellers this season. the products have been flying off the shelves. the videogame industry itself has been thriving this year with covid-19 lockdowns fueling unprecedented demand. where does that leave us as we head toward the end of the year? joining us is paul sulyok my green man gaming ceo. good to speak with you. you sell games and promote games. i am wondering how having two new consuls coming out at this point at the shortages we are seeing around them, -- new consoles coming out at this point and the shortages we are seeing around th

so we have george net chetty from morgan stanley on the line with us now george good to see you. >>we're talking about 2 different stimulus checks of $600 check that's a go. that's that's a done deal when we'll be able get that check. >>well we've expected to get that checked pretty quickly probably about the middle of january would be pretty fast for you know to get a mask distribution of a $600 out to everybody so that the $600 for each adult and the children have to raise from $500 to $600 so feel before you get about not as much as people need. but we're going to get this thing out there get it started and then perhaps after january some time will be an additional bill flooded. >>your words saying a lot of unanswered questions charge if there is another check on they're talking about $2000. if that's a whole different some 2000 doors had minus the 600 i think it's confusing for a lot of people and what to expect it's it's actually it's actually my to 600. >>but believe me the spending on ball, $2500 was proposed by the democrats to the republicans 5 months ago. republicans wo

we are morgan stanley. everybody's problem. and that's why we created rapunzl. the rapunzl app was designed for high school and college students to simulate stock portfolios. they're able to buy and sell stocks in real time. thanks to nasdaq's cloud data solution. if somebody tells you just download this app and you could potentially win a scholarship, and you're learning, it's like, yeah. information is key. having access to information at your fingertips on your mobile phone, on your desktop, or here on the screens, it really allows us to showcase what's happening out there. and so we pitched the idea of: why don't we host an investment competition on this newly built rapunzl platform? it was really cool to just sit there and like watch how the market really works. what i won was real money. so my first year of college, i ended up going debt free. data information being put in the right hands can literally change a person's like way of life. ♪ i got it all from you ♪ i'm always pushing through ♪ i know we'll make it to the finish line ♪ ♪ i know you'

for me, the morgan stanley downgrade, this for me is just a little shortsighted, honestly. i'm looking at this as a fivet ten-year play as far as buying and holding the stock. this company is aid le leader it analysis and ai. they have government contracts and they've had those contracts for a while. they're completely ignoring the fact that this company is expanding into the private space and there's so many applications for this software that they haven't even donny et. you know, on one hand, i lieu the stock. for me i love it even more on the options market because of the amount of speculation that we've seen in this stock, the options premiums are really high and you have the retail crowd that loves the stock and then you have the institutional crowd that keeps shorting it. so, you have a couple different factors here you have high iv, which gives you a great opportunity to sell some credit spreads or simply sell the puts on a day like today, especially if you want to pick up the stock. or, you know, you wait until it kind of bases out and consolidate and then try to se

we are morgan stanley. >>> going from game breaking receiver in the nfl to a successful entrepreneur is hardly a sure thing, as you know our next guest, though, has done just that. he spent 14 seasons in the league with the carolina panthers and chicago bears still holds the record for the longest touchdown reception in super bowl history he is with us live it's good to see you welcome. >> scott, thanks for having me >> you know, i had no idea what you were up to i hadn't heard your name in a long time and i saw a feature on you before a football game i was taken by your story. if people are surprised by what you're doing now, it doesn't seem like you would be because you have described yourself as an entrepreneur trapped in a football player's body tell me about that >> you know, it just started at an early age i just think of myself as more than just a football player. i'm more complete and always had interests outside the sport. >> you founded axum while you were playing >> it started in 2008 when i signed a contract with the carolina panthers to come back to charlotte, i put a fr

both morgan stanley and cowan raising their price target on shares. any gain today would be a fifth record close for the athleisure giant. nike gaining .33% right now. >>> speaking of new highs, equifax raising the roof, literally. shares hitting a new record after fourth quarter credit checks for mortgages skyrocketed amid the pandemic housing boom and record low mortgage rates. equifax is gaining 8% right now to $184.51. >>> but the housing boom going bust for toll brothers, shares crumbling at this hour as a disappointing forecast on first quarter deliveries threatens 2021 profit estimates. toll brothers down 7.8%. >>> we need to talk about two stocks that lately have shown real momentum and they are reporting their earnings and whatever it is, right, their numbers after the bell today. chewy. chewy is popping 4.5%. gamestop is up half a percent. let's get to cheryl casone in the fox business newsroom. what should investors really be watching? cheryl: these are a couple real big names we will be looking at after the bell. start with gamestop. analy

we are morgan stanley. help the world believe in holiday magic.thing and this year was harder than ever. and yet, somehow, you all found a way to pull it off. it's not about the toys or the ornaments but about coming together. santa, santa, you're on mute! just wanted to say thanks. thanks for believing. >>> i think you take something o off the table. quantumscape has pulled hard. as it gets cheaper, it gets better c better. let's check in with ceo of quantumscape, mr. sims, welcome to "mad money." it is heavier and they catch on fire and they don't get you enough distance and you on the other hand have got what? what kind of battery? >> yeah, actually so the quatumscape addresses the battery problem. it has good density and it gives you more power density and gives you faster charger that you referenced and it is safer because it consists of non flammable elements. you get all that without having to pay more. you put it all together in one change of going from the liquid base design. you can address all five of those invitations and that's why it is better. >> never before shared proof

stanley and change complexion of more investors >> speaking of morgan stanley, guys, mike wilson's note this morning, jim, saying financials may be the next momentum pile on and it will likely pay to be early here his point largely is that it's got to get out of the vice grip of that ten-year yield >> but it had been pretty jet-like and to see david kind of a win for the banks and win for the jets i don't know is it synonymous. >> meaning it happens once in a season >> exactly >> a win's a win and as a long time and long suffering that goes with being a jets fan, enough to see a win. enough with this oh, they're not going to get trevor lawrence you have to sometimes just win if we got trevor lawrence he will be terrible and when he goes to another team, he will be amazing. >> a w is a w. >> we can't win for losing maybe it is short lived. i do, you mentioned morgan stanley and the fact that it has had a rerating in the stock market and sort of diverged from the rest of the group because it is much more of an asset manager than anything else at this point and it's up 31% this year. its m

graham secker is with us from morgan stanley. it is interesting to talk to stephan, because he comes from the bugatti perspective where they had record sales in 2020. for the consumer brands like vw, the, fiat, drops of 25% are norm year-to-date. do you see a bounceback across the auto sector in 2021? is the vaccine going to get us back on the roads and buying new cars rather than writing in the subway? riding in is -- the subway. graham: it is. there will be strong economic recovery everywhere in the next six to 12 months. we have seen good trends coming out of china. china was ahead of us through this whole will be cycle and process. our auto analysts at morgan stanley see a good story in 2021. they have concerns about the durability of that into 2022, but the point at the moment to make his household savings rates everywhere around the world are very high. on aggregate, the consumer sector has saved a lot of money this year. as restrictions ease, people will go out and buy stuff and do stuff, and they have the money to do it.

we are morgan stanley. into strategies for the road ahead. ♪ ♪ >>> dr. j., jon najarian, what are you seeing that's unusual? >> well, scott, i have a lot of unusual. it's in the cloud space, believe it or not, at least part of it, because microsoft is our first one. microsoft, 34,000 calls. they always say, have a hunch, bet a bunch. somebody bought 3.4 million share equivalent of microsoft at $240 a share february 240 calls i bought those scott the stock was sub 220 when we came on air. that's a bit of an upside jump the other one is dynatrace, a cloud play, more of a pure cloud play they were aggressively buying the february 41 calls, scott, and that's virtually the at the money call rather than a big reach like in microsoft. liked them both. added to microsoft, which i already owned, and established a position in dt because of this buying i'll probably hold them both about 30 to 45 days. >> good stuff. >>> coming up, jim cramer and the traders are answering your questions next it's ask halftime right after. ♪ when disaster strikes to one, we all get

coming up on bloomberg technology, morgan stanley vice chair of wealth management. this is bloomberg. ♪ francine: -- ritika: this is your bloomberg business flash. jp morgan plans to raise annual bonuses. same time, payouts will decline across the rest of the bank. traders may see bonuses rise by 20%. generated 23.9 million dollars in revenue. michael corbin is pleased with joe biden's pick for treasury secretary. that the banking industry had a good relationship with her. elected, or voted into the seat, she will do a great job and i would expect that relationship to continue. out, anothershout glass ceiling broken in terms of her becoming the first female secretary of the treasury. was michael corbat. catch david rubenstein's full interview with michael corbat this friday at 10:00 a.m. eastern to find out how citibank is managing the covid-19 crisis and the potential impact on bonuses. that is your latest business flash. francine: after more than four -- credit chief is stepping down. the departure follows clashes with the board over bank strategy. latest is --t

we are morgan stanley. don't settle for silver #1 for diabetic dry skin* #1 for psoriasis symptom relief* and #1 for eczema symptom relief* gold bond champion your skin >>> time to find out if viewers are buying dan's fast pitch on autonation put your seat belt on. you are a winner more than 52% of the voters are buying autonation. >>> let's go around the horn for final trade. >> fedex to me, despite a market trade down after the bell, i think they are having the time of their life with ground and b 2 b coming >> dan >> autonation. love having steve on the show. please come back and guy, happy birthday tomorrow you are the stranger to my abide. >> nice pitch. we haven't talked about this in a while. walmart, i think it's good >> guy >> geritol forreasons. >> mad money starts right now. >>> my submission simple, to make you money i'm here to level the playing field for all investors. i promise to help you find it. mad money starts now hey, i'm cramer. i am just trying to make you some money my job is to educ

morgan stanley is handing out a special one-time bonus for lower paid workers as the firm heads toward a record year. the bank will give around half of its 30,000 global employees a one-off payment of $1000. the benefit adds to morgan stanley's promise it will not cut its workforce this year despite the fallout from covid-19. delta airlines is morning cash losses for the quarter could be deeper than expected as the underminingcould be air travel. delta is expected to burn up to $14 million a day, up from an earlier forecast of $12 million. the airline says revenue will be 30% less and from the same period last year, in line with earlier estimates. that is your bloomberg business flash. francine? francine: oil extends gains after opec-plus reaches an agreement to gradually ease production cuts. the deal comes after a day of tense negotiations. the ruble start adding 500,000 barrels a day to the market in january. the saudi minister said output would be kept under review. tweak upward, we could tweak downward, we could stay put, and it is all about addressing uncertainty. if you have an

we are morgan stanley. help the world believe in holiday magic.thing and this year was harder than ever. and yet, somehow, you all found a way to pull it off. it's not about the toys or the ornaments but about coming together. santa, santa, you're on mute! just wanted to say thanks. thanks for believing. >>> welcome back to "fast money. we have an earningsalert on lennar diana has the details. >> it is one of the largest home builders it showed a strong beat on shares revenue of 6.8 billion versus estimates of 6.65 billion. backlog up 21% and deliveries down 2% but that's stronger than the street expected and due to the initial spring sales from covid. the chairman said -- now that, of course, helps boost price. the average sales price was unchanged for delivery, but new orders raised to $412,000 from.394,000 now the ceo said -- >> we get housing starts tomorrow numbers have not been that great there. the ceo saying you need to pump up construction. >> thank you >> where do you go this is thanks if part to the feds continuing to buy back securities >> yeah. the rates will stay strong on

morgan stanley is handing out a one-time bonus for lower paid workers. they will give around half of their 30,000 global workers a one-off payment of $1000. it adds to morgan stanley's promise it will not cut its workforce this year. delta airlines is warning cash losses for the current quarter could be deeper than expected as the coronavirus continues to undermine air travel. delta now expects to burn up to $14 million a day up from an earlier forecast of $12 million. the airline says revenue will be 30% less then for the same time last year. news, 24w does -- hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. annmarie: coming up, boeing shares fly high after the playmaker strikes a crucial deal with ryanair. we hear from those two titans of the aviation industry next. this is bloomberg. ♪ good morning. 6:40 six and the city of london. boeing shares flew higher yesterday after the playmaker n order for it 737 max jet from ryanair. we spoke to the ceos about -- with both companies about why ry

we are morgan stanley. into strategies for the road ahead. this is the new iphone 12 pro with 5g! and it's on at&t, the fastest nationwide 5g network. now, new and existing customers can get our best deal. really?! mom! at&t has the deal for new and existing customers! i will. so what'd she say? wrong person. it's a guy named carl. but he's very excited and on his way. word-of-mouth advertising. it's what they did before commercials. it's not complicated. everyone gets our best deal, like the amazing iphone 12 mini on us. help the world believe in holiday magic.thing and this year was harder than ever. and yet, somehow, you all found a way to pull it off. it's not about the toys or the ornaments but about coming together. santa, santa, you're on mute! just wanted to say thanks. thanks for believing. >>> what do we do with this market it is now taking a little breather and it won't be that long, honestly it had an incredible run we are still an unchartered territory. the average is trading tlilike e pandemic never happened. we got the prospect of highly effective vaccines around th

we are morgan stanley. but before we sign i gotta ask... sure, anything. we searched you online and maybe you can explain this? i can't believe that garbage is still coming in. that is so false! frustrated with your online search results? call reputation defender today to join tens of thousands who've improved their online reputation. get your free reputation report card at reputationdefender.com or call 1-877-866-8555. >>> welcome back. it's time now for today's power mofrsz. we start with alexian pharma getting acquired by astrazeneca in a $39 billion deal. it will boost astrazeneca's infectious diseases. >>> shares of -- one for breast cancer and the other for prostate cancer. more than doubling in arvn today. apartment investment and management as falling as a company. it will be removed from the s&p 500 this week to make room for tesla. that's the market event we are all awaiting on friday. shares down about 36% this i don't remember. >>> the next phase this the vaccine rollout beginning today. it is going to require loot of work from the big shippers

as soon as the good news broke what happens with jp morgan in and morgan stanley chimed in with $10 billion and goldman sachs. at a time when congress is about to pass pa $900 stimulus market after all, we could be in for a lockdown or another people would say recession. they already passed the government's stress test and again, on a bad day you need to look for surprising pieces of good news, of what these bank buy backs are. that was a buying opportunity. the bank stocks finished strong. now they have a reason to go up. i almost hope the market sells off again, give you another chance to buy and especially morgan stanley which zoom is on a buy back morgan is on the safest model. and let's not forget of the stimulus package itself. people are concerned that congress may not be able to pass anything when they wrangle together a $900 billion package, we can't ignore it like it did not occur. so what works when the government gives us an extra $300 for benefits along with the $600 check where do people shop when they get a much needed windfall in this country among the many people who do not

we are morgan stanley. rj >>> finally our nightly tribute to some of the people we have lost to coronavirus. giuseppe coming to the u.s. from italy when he was 26. he loved to share home grown tomatoes and grapes with his family. ramash was 67, he worked as a chemical engineer for 30 years. he loved to dance and he was a fan of cricket and was very active with his two grandsons. may they rest in peace. and may their memories be a blessing. thanks very much for watching. i'm wolf blitzer in the situation room, you can follow me on twitter and instagram @wolfblitzer, tweet the show at cnnsitroom. erin burnett "out front" starts right now. >>> barr breaks with trump saying there is no evidence of widespread voter fraud. one person, though, standing strong by the president, rudy giuliani, who has asked the president for a preemptive pardonen. t . one of the doctors who just cast his vote is out front, and joe biden says help is on the way. the president-elect introducing his new economic team tonight. his advis

we are morgan stanley. >>> it is time for "the lightning round. and then the lightning round is over are you ready? i am going to start with phil if north carolina >> phil. >> jim, how are you doing today? >> i am doing fine how about you phil >> i have called so many times and every time i do i mention you in the same sentences. i know you are humbled when i say that peter lynch never had faang. >> what's going on >> anyway, this is regarding to my grandson, his son is pj the last time i called i told you how helpful you are and making me able to afford him a good college education >> that's why we do the show >> i am going to be able to give him a couple of bucks every month because of you >> yes >> let's do it again, phil let's do it again now. >> okay, this stock is southeast asia stock i know you don't like to comment on this type of stock but it is up 444% from the last year and it just got approved, award the digital banking license in singapore. i think you may know what i am talking about. >> se. here is the problem with that one, sir i c

we are morgan stanley. >>> good wednesday morning welcome to "squawk alley." i am jon fortt with carl quintanilla and deirdre bosa >> facebook is throwing down the gauntlet over the privacy option they plan to give consumers that would directly limit the targeting of ads this is a change apple says it will be making in the name of privacy protections. facebook publishing a blog post saying it's speaking up on behalf of small businesses, saying we believe apple is behaving anti-competitively by using the app store to benefit their bottom line, at the expense of app developers and small businesses we continue to explore ways to address this concern facebook argues that apple will discourage people from accepting advertising. they allege that this is part of apple's plan to push apps and businesses to models that apple can take a cut from, such as subscriptions and in-app payments, which facebook says apple's update changes mean more money for apple and less free stuff for people now, with the prompt to opt out of all ad targeting, facebook says it would mean a r

we are morgan stanley. not because i didn't want it. i worried it was too expensive, and i was having a hard time paying our other bills. but now, for the first time in our lives, i can do both. covered california was made by californians for californians. and it makes health insurance more affordable, with financial help for people who need it. covered california. this way to health insurance. enroll by december 15th. >>> right now, all across the country, hospitals are getting ready for a monumental task. i want to discuss it with dr. mike sagg from the university of alabama at birmingham. doctor, thank you so much for joining me. where he know that for you, this is personal. in early march, you were stricken with covid-19 after a trip to new york. do you know when this hospital will be receiving the vaccine? >> we are definitely ready and should be getting vaccine product in the next day or two. our hospital is designated as a distribution site for about 10,750 vaccine doses that would be distributed in the next week or so. we have t

they're only disco banks we know of, morgan stanley and bank of ,merica -- there only two banks morgan stanley and bank of america, that help to the we will not cut anybody philosophy. we have big bank earnings come and you will see over and over how bloated the cost base are for the big u.s. banks. there is a big demand to get the costed line, even for the companies you've not heard talk about the issue very much. lisa: where the cuts coming? sonali: some of it will be headcount spirit a lot will be real estate. paying people lower is one thing. it is also cheaper for these companies to operate out of different locations as well, saving money on leases. there is a mix of things. you hope it is not all in the headcount, but we will certainly see some in the headcount. there is a reason the big cities have been magnets for the financial hubs, that is because they attract younger individuals and that has been the tradition over decades and decades. the people you talk to want to go to florida. is there a sense the big cities will continue to attract younger talent and will continue to be

we are morgan stanley. >>> hello, everyone. thank you for joining us this sunday. in just hours, the majority of california will be under a new stay-at-home order, set to last until christmas. as the numbers continue to grow and hospital capacity kidwindle new restrictions kick in tonight at midnight, this as the number of cases become so numbing, it's heart to truly understand how

. ♪ more than this at morgan stanley, a global collective of thought leaders offers investors a broader view. ♪ we see companies protecting the bottom line by putting people first. we see a bright future, still hungry for the ingenuity of those ready for the next challenge. today, we are translating decades of experience into strategies for the road ahead. we are morgan stanley. into strategies for the road ahead. ♪ ♪ digital transformation has failed to take off. because it hasn't removed the endless mundane work we all hate. ♪ ♪ automation can solve that by taking on repetitive tasks for us. unleash your potential. uipath. reboot work. >>> let's talk lululemon the king of leisure put up some high numbers we are talking about 94% direct consumer countdowns 43% of lulu's business the company is doing so well that they rolled out a new $500 million buy back. who the heck buy back stocks the company is doing incredibly well what happens if the stock goes down it is still down $13 the reason management is still not providing further. i think there is a sense of business may deter

we are morgan stanley. your daily dashboard from fidelity -- a visual snapshot of your investments, key portfolio events, all in one place. because when it's decision time, you need decision tech. only from fidelity. >>> welcome back we'll do final trades in just a moment want to run through a couple of things bryn, airbnb initiatived positive at susquehanna with brice target 240 and doordash positive and all these concerns about whether those two stocks represent a bubble even though the airbnb stock down a lot since the -- you know, in the last week or couple weeks or so. maybe it has had a comeback, what do you do with arab bowe or doordash, if anything? >> i mean, i think doordash ipoed on the best revenues most likely they will ever have or in the next few years while airbnb ipoed probably at the worst revenues they will ever have, and so, i mean, i think airbnb has years of runway of adoption, and we'll see where it settles in here, but i think it's a wonderful company. i think doordash, we will go ou

coming up, morgan stanley's head of global macro joins us. an interview you don't wa ♪ matt: welcome back to "bloomberg surveillance." i'm matt miller in berlin, alongside carol massar in new york. we are in for tom, jon, and lisa. they are out on a well-deserved vacation. rallygain, a risk on pushing equity indexes to new highs. s&p futures are up again after the benchmark cash index touched a new high yesterday. the euro is gaining, but the dollar is losing ground, so most pairs that you look at involving gain.llar will see a $1.22 on the euro. let's take a look at the pound. it is also gaining against the dollar. but i think more interesting is the ftse. the way equities are rallying in london right now really tells you a lot about how investors view the brexit trade deal. remember, that was finally figured out on christmas eve. of course, the ftse didn't trade on christmas friday. it also didn't trade yesterday because they were celebrating boxing day. so today is the first day investors have to vote with their wallets, so to speak, on

we are morgan stanley. >>> welcome back today we'll give you four big stock stories. and it includes the latest fashion trend, buying a new home and throwing in the towel on self-driving cars. first up stitch fix, sales rose 10%. and check it out, stitch fix expects revenue growth of 20% to 25% in fiscal 2021 stock number two is uber, selling its self driving car unit to a startup backed by amazon this ends uber's five year run of trying to develop self-driving vehicles. but uber will take a stake in that company up next, toll brothers, more people buying bigger homes, having an extra room that you could use as an office or hide from the kids. toll brothers down 4%. and your bonus stock, palantir, up after jumping 21% yesterday the move comes on reports that the company has landed a $44 million contract with the fda to help power drug reviews and inspections. shares up more than 200% since its direct listing in september. peter teal wins again. >>> still ahead, much more on this landmark day in the fight against covid-19 as the uk rolls out the first round of vaccines

up next, morgan stanley's director of fixed income research on the year ahead. got to get through december, first. if you are familiar with the crowd, we will get into that next on this program. this is bloomberg. ♪ businesses today are looking to tomorrow. adapting. innovating. setting the course. but new ways of working demand a new type of network. one that's more than just fast. you need flexibility- to work from anywhere. and manage from everywhere. advanced technology. with serious security. and reliable coverage, nationwide. forward-thinking enterprises, deserve forward-thinking solutions. and that's what we deliver. so bounce forward, with comcast business. >> we are in a very serious environment. >> it's a lot of bad news to get through in the next quarter or so. >> the tea leaves have never been harder to read. >> these reports are getting overshadowed. >> what monetary policy could do most importantly is support fiscal policy. >> this is "bloomberg surveillance." jonathan: four four our audience -- for our audience world ride, i'm jonathan

gameove has been held as changing by morgan stanley's five chair. under the proposed rules most companies listed would have to include at least one director who identifies as female and one who identifies as an underrepresented minority or lgbtqi. speaking thanks -- speaking exclusively to bloomberg, all progress is being made to change attitudes, there is still a long way to go. >> frankly it was a profound and provocative statement. when i read it the first thing i thought was #leadership, because they are an important player in the ecosystem. for them to make this statement and to say that they are going to advocate to make it a that outnt and to put there, i thought it showed real leadership and i think it will certainly accelerate the change. emily: at the same time we are seeing companies in silicon valley. i don't know if you are familiar with the ceo who said they will take on at it as a marin cilic stash social causes that are not tied to cryptocurrency. a number of african-american employees have left and a number of other employees have l