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Right now on the russia controversy. Well go there live in a few moments. Major banks out with earnings. Jpmorgan with a quarterly beat stronger loan demand offset a decline in trading revenues. Citis results also above consensus, helped in part by lower costs and better than expected trading revenue they both mentioned brexit a year ago, jim. Really helped trading and yearonyear comp is tough joe asked me earlier which is better and i went with citi no slight to jpmorgan, their quarter was excellent, too theres fantastic growth how about this statistic you know that jamie dimon bought back 4. 5 billion worth of stock, even though the stock is up at 97, scitigroup had every line item better than expected citi gave what was considered an analyst day. And i sat down with mike korbat, the ceo on analyst day, skpeman everyone told me, pie in the sky, he exceeded everything that he said. It is a best in show situation theyre buying back 60 billion worth of stock walmart buys back 20 million ....
So tastes like a guinness. A little early. Im Andrew Ross Sorkin. Joe kernen is here becky has the day off. A lot of news to get to. Dow up about 26 points nasdaq up about 5, s p 500 up about 2 1 2. Lets show you overnight in a a asia, green arrows across the board. And european equities well also show you, its green, green, green. And if youre buying wti crude by the barrel, oil is moving higher on news of a sharp drop in u. S. Oil supplies wti crude right now at 48. 29 today well get an Interest Rate decision from the fed this afternoon. Wall street is widely expecting policymakers to keep rates unchanged. Big focus is what the fed says about inflation. Well have full coverage beginning at 2 00 pchl we have 175 s p 500 Companies Reporting this week. Today its boeing, cocacola, ford and among all the names youre ....
Its now great when you see every single day, whether its bank of america or jpmorgan or Goldman Sachs and you start looking at other areas like boeing and microsoft youre not touting the Bank Earnings as being great . Oh, come on. Cocacola, at t, ive got you. Are they near the top i think theyre near the top yes, they are. Highest close since 07. Im in your corner, buddy. Were getting the facts and the facts are beats on the earnings side and revenue side and with few exceptions, this has been outstanding so far. We still have a lot to go. You with them im with them theres the socalled wall of worry out there. I dont think it exists. Theres complacency. I agree with that. The question is, what do you do with that in terms of your Investment Outlook you cant plan for that black swan event sure, you take out protection. ....
Seems like some old line company surprises us with good news, causing investors to buy their stocks hand over fist. Buy buy buy buy buy the resuscitation of these falling stars is whats behind a lot of the strength here the dow gaining 98 points. The s p and nasdaq advancing new records all around hallelujah let me give you some examples. Last night, att completely out of the blue, delivers a delicious upside surprise, which is why the old teleco stock could leap up like a small growth stock nearly 5 in one day. How the heck did they do it . They gained subscribers and some came in an obvious way, a merger and tiein with directv that has gone smoothly. At t is now buying time warner and they give you a hint why, beyond the need to diversify on the Conference Call, at the end of the q and a, in an answer to a question about how time warner might fit into the bundle, cfo john steffen said with regard to hbo, customers like it. Cust ....
Its the naz dock that certainly seems to be the worst today. Joining us for the hour to discuss all of it is josh brown. Joe, john, and pete, we begin today though with a man whose memo was the talk of wall street recently a memo warning investors that the level of risk in the market may be getting dangerously high. Howard marks is the cochairman, hes with us live today at post nine and we are very happy, sir, to welcome you to our program today, thanks for being here thank you, scott, glad to be here this was the talk of wall street we spent a lot of time on our program diving into what you wrote. What prompted you to do this now . I just accumulate things all the time i read about this, i read about that, hear about that, come across this fact, and eventually, they accrue until theres enough to make to have meaning you know, its funny, the stock guys say oh, you know, everything looks good. This can continue. Its the credit guys who raise the flags. Im wondering whats going on with t ....