. >> one bright spot in today's trading, big profits from jp morgan and wells fargo delivered better than expected quarterly earnings. jp morgan profits surged 31% to $1.60 a share, 16 cents more than analysts estimates. revenue also better than expected, up 14%. wells fargo posted a gain of 19% or 9 8 cents a share, a nickel higher and the recent jump in interest rates and drop off in lending in the mortgage market but the ceo of jp morgan said they will continue to do well as interest rates move higher. >> all equal, it may knock down mortgage origination but have you have a healthy economy that will filter through. all things equal, a good thing as long as the economy is growing. >> as for the outlook for the u.s. economy, diamond is also pretty upbeat. >> the american economy is getting -- slowly getting stronger, so the lending will come back when people have more confidence and do more capital investing. we're confident you'll see growth over the years as america recovers. >> we'll learn more about the outlook for the banking sector next week. citi group reports it's earnings o

. >>> today protestors surrounded a san francisco home of wells fargo ceo john stump. they count for much of california's foreclosure activity and demonstrators are upset about the current policies that say foreclosure not always the right answer. >> to sit down and talk to us about a loan modification. we don't want to lose our homes. >> the company responded by saying quote -- wells fargo has helped more than 860,000 customers with loan modifications and has extended more than $6 billion in principal forgiveness sense january of 2009. >>> family members of a missing oakland toddler are not giving up hope of finding her. they handed out fliers and looked for clues in her disappearance. daphne webb's father spoke to the media for the first time in a week. >> i just want to find my you know my daughter. i'm not into publicity or nothing like that. i just want to find her. >> animalier abetter for the toddler was every -- an amber alert for the toddler was issued a week ago. >>> she was known as a fearless member of the press. who wasn't afraid to take on presidents. nex

. >> housing activists demanded stop the foreclosures right outside the home of the ceo of wells fargo. >> the alliance of californians for community empowerment organized yesterday's rally in san francisco. protest organizers believe as well as fargo could limit foreclosures by reducing the principal many borrowers owe. wells fargo issued a statement our work to help people pay balance have left to a lower foreclosure rate the last year. >>> although the economy is recovering, it's little consolation for those who have looked for a job and come up empty-handed. he we have the story of a man who came back from the brink of despair by creating his own job and now he's helping others do the same. >> tech shop is place inventors and crafts people come to learn new skills and use few tools. inside you find this man working on a laser cutter and outside a man is sleeping on the pavement next to the shopping cart. but it turns out they have something in common. >> in 2011 was the first night i spent in a homeless shelter. >> he was a out of work person who went into a spin but he heard two t

wells fargo accounts for much of california's foreclosure activity. it is not always the right answer, they say. >> just it is down and talk to us about a loan modification. we don't want to lose our homes. >> the company responded by saying "wells fargo has helps more than 860,000 customers with loan modifications and expended more than $6 million in principle forgiveness since januar 2a fast moving fire reco a state of emergency. more evacuations as the fire burned for a seventh day. it started at the intersections of highway 243 and 24 in palm springs. the fire is threatening 5,600 houses. it is only 49% contained. cool weather and much needed rain helps firefighters gain control over the raging mountain fire as it is called this weekend. flames have spread to remote areas that are hard for firefighter to access. the rocky terrain is the challenge. members of the hot shot fire crew are using trams to get to the fire. >> this is probably the hardest way to fight fires the old fashioned way. but you have to be people on the ground to get around the f

jpmorgan chase and wells fargo coming in above expectations welles alcoa. gas prices are about to spike in prime driving season. expect a jump of 10 to 20 cents per gallon of gasoline. it's because of tensions in the middle east and inventory issues in the united states. >>> barnes & noble trying to read its own future. the ceo resigns suddenly. it's possible the iconic bookstore may once again become a private company. >>> the markets are certainly happy to hear what ben bernanke had to say this week. we also saw the kickoff to the earning season as well. what does it mean for your money and going forward? joining me now danielle hughes and bob doll. thanks so much to you both for joining us. good to see you both. so what a week. we're at a record high for the dow jones industrial average and the s&p 500 this week after bernanke's words. what did you make of the speech? >> i think ben bernanke put the toothpaste back in the tube. i think he'd like to have earlier speeches back where he perhaps spoke too much. he wants to commission us he's not going to buy

my favorite bank: wells fargo. they have the least exposure to europe, they have the most exposure to the mortgage situation in the united states after we see all the housing numbers have been positive. 52-week highs in wells fargo. it's very tough to play this to the short side- - any bank. follow the money. almost every bank, if you look at these earnings, it's all about earnings. it's been blow- out earnings, and it looks like they're going to continue to make money. xlf covers all the financials. that's got 10% more upside. it sold off 8% just a couple weeks ago, and nobody wanted it. now it looks like it's going to make another big move to the upside- - banks have been on fire. - banks are on fire. that is not going to change anytime soon. - what about brokerages? topic #2: ira accounts are at a five- year high. which brokerage would you buy? - they've seen a little bit of recovery. schwab, ameritrade and e-trade have seen a little bit of a recovery here. but, i think ameritrade in my opinion has more upside f

morgan and wells fargo both report earnings today. joining us now, scott bauer of trading advantage. on the trading floor, what is the trader talk today? will the banks set the tone? - not only is it going to set the tone for today, angie, i think it's going to set the tone for the rest of the earnings season, and going into the last quarter of the year, quite frankly. with the recent rise in interest rates that we've seen, that really may affect wells fargo more than it's going to affect j.p. morgan, that that's going to give a great insight into what they think this housing market is going to do the rest of this year. i think both banks are going to report very strong earnings, but it's the guidance that worries me a bit on both sides there. - scott, we are back to seeing record levels in the stock market. what levels in particular are you watching? - what's really interesting, angie, is when we get these levels back in may, the vix, the volatility index, what people call the "fear gauge," was actually rising at the time. it had bot

it was lifted by wells fargo numbers a little bit stronger. in my opinion, reality. the fact of the matter is rising interest rates are an indication of a strengthening economy. central banks can back away. rising interest rates are good for financials, good for banks in the banking business. the big picture is the market continues to go higher. being beaten down after several years, it will continue to move as money moves out of fixed-income, finds its way into equities. short-term trade, i like to be sure everyone's awhile. it's my natural tendency. for long-term investors would not be short. i would be sitting on my hands waiting to buy stocks like boeing, or i would be ready to buy some company i am familiar with that i know what to spend my money on. liz: that is so much of this, expectations. if you are in for the so-called long term. you bet on it, make your purchase and set on it. let me ask you this same question. see you go into weekends like this short or flat simply because you are not sure what might happen? >> well, the best answer to your question is t

. >> housing activists demanded stop the foreclosures right outside the home of the ceo of wells fargo. >> the alliance of californians for community empowerment organized yesterday's rally in san francisco. protest organizers believe wells fargo could limit the foreclosures by reducing the principal many borrowers owe. wells fargo issued a statement our work to help people pay balance have left to a lower foreclosure rate the last year. >>> although the economy is recovering, it's little consolation for those who have looked for a job and come up empty-handed. abc7 news reporter jonathan bloom has a steer of a man who came back from the brink. despair by creating his own job. now he's doing that for others. >> tech shop is place inventors and crafts people come to learn new skills and use few tools. inside you find this man working on a laser cutter and outside a man is sleeping on the pavement next to the shopping cart. but it turns out they have something in common. >> december 1, 2011 was the first night i spent in a homeless shelter. >> he was a out of work person who went into a

and wells fargo these companies. have spent upwards of three million dollars on current members of congress in the two thousand and twelve two thousand and six to two thousand and twelve campaign cycle and wells fargo spent one point seven million dollars and here's the amount g.e. should have paid and should have paid if they were paying the thirty five percent tax rate now not only did these companies not pay that much lower they actually paid negative tax rates between two thousand and eight and two thousand and ten you can see that in the yellow they were paid by the government as a reverse tax and this is a regressive corporate tax system where these large companies can pay more and get these tax breaks or smaller businesses can't afford that so it seems like these can truly campaign turn to contributions are mostly for these financial committee members and if that's true more than seventy percent of the money expense is members leadership of the house in the. senate as well as the senate finance committee membe

for example, wells fargo, that's sitting at a new high as well. china gdp was exactly what they said it was going to be. isn't that something? 7.5%, and that's exactly where it came in. no problems with that at all. emerging market stocks doing well today. this has been a disaster in the second quarter. they have stabilized a little bit and that's the reason they're up is because of the 7.5% exactly in line with expectations. bond funds bouncing back a little, the bottom line, we're not really seeing a rally. we're seeing stabilization in bond funds but not really a rally to bring rates down and until we see that, i think a lot of people will still be very suspicious of that. finally, i want to note, retail sales were a real disappoint. this is a problem because a lot of the bulls argued highly the first two months, april and may, of the second quarter were kind of crummy, the third month, june, was better. this is not true in retail sales and we're seeing some people who are moving their gdp estimates to the downside, deutsche bank dropped theirs

the two thousand and twelve two thousand and six to two thousand and twelve campaign cycle and wells fargo spent one point seven million dollars. and here's the amount g.e. should have paid and should have paid if they were paying the thirty five percent tax rate now not only did these companies not pay and pay much lower they actually paid negative tax rates between two thousand and eight and two thousand and ten you can see that in the yellow they were paid by the government as a reverse tax this is a regressive corporate tax system where these large companies can pay more and get these tax breaks where smaller businesses can't afford that so it seems like these can train campaign contributions are mostly for these financial committee members and if that's true more than seventy percent of the money spent is on members leadership of the house in the senate as well as the senate finance committee members of the house ways and means committee members and the top five. beneficiaries from the thirty corporations that paid no taxes between two thousand and eight and ten are steady why are joh

so she is asking us to volunteer to do wells fargo and bank of manager's job for them. and we're not going to do that. we want people to move into these houses. we don't want they will torn down. we want them renovated and moved. in them they would work with us in good faith and they haven't done that. >> we're going to stay on this story. no question about it. i have a suggestion for glenn beck and fox news. you would be great on fox news. they blame the unions, no agenda whatsoever by the conservatives to take down neighborhoods that are solidified and what the people want with absolutely no input from the local folks this is happening. lee, we'll get back to you. go ahead. >> this is the corporate footprint of governance on detroit. what you're looking at is a community fighting against a corporate takeover. >> it is. remember to answer tonight' question at the bottom of the screen. we want to know what you think. coming up, a dream deferred. stay with us. at farmers we make you smarter about insurance, because what you dont know can hurt you. what if you didn't know

the two thousand and twelve two thousand and six to two thousand and twelve campaign cycle and wells fargo spent one point seven million dollars and here's the amount g.e. should have paid and should have paid if they were paying the thirty five percent tax rate now not only did these companies not pay and pay much lower they actually paid negative tax rates between two thousand and eight and two thousand and ten you can see that in the yellow they were paid by the government as a reverse tax and this is a regressive corporate tax system where these large companies can pay more and get these tax breaks were smaller businesses can't afford that so it seems like campaign turn to contributions are mostly for these financial commitment. yes that's true more than seventy percent of the money spent is on members leadership of the house in the senate as well as the senate finance committee members of the house ways and means committee members and the top five. beneficiaries from the thirty corporations that paid no taxes between two thousand and eight and ten are steady why are john boehner eric

>> tomorrow it's all based on what we see with jpmorgan and wells fargo. if there is any -- liz: that is one point. forget it. watch fox business. we'll have the numbers for you. thank you, scott. adam: thanks, scott. liz: oil skyrocketed to a 15-month high yesterday following that report we always get on wednesdays that oil stockpiles fell by 9.9 million barrels last week. that was way more than expected. but oil then took a hit today. total opposite, on a prediction by the international energy agency that oil supply will increase next year. adam: so what does this mean for the oil market and where you want to invest? where are we going with all this? we have two top analysts ready to duke it out to help you make some money in our bull versus bear street fight. we have david greenberg. david, i will start with you, i know thaw don't think this price of oil is sustainable. you expect it to fall even further. why? i think demand is picking up worldwide so wouldn't the price go up? >> there is always the argument about demand picking up and that's real, howe

and wells fargo these companies. have spent upwards of three million dollars on current members of congress in the two thousand and twelve two thousand and six to two thousand and twelve campaign cycle and wells fargo spent one point seven million dollars and here's the amount g.e. should have paid and should have paid if they were paying the thirty five percent tax rate now not only did these companies not pay that much lower they actually paid negative tax rates between two thousand and eight and two thousand and ten you can see that in the yellow they were paid by the government as a reverse tax and this is a regressive corporate tax system where these large companies can pay more and get these tax breaks or smaller businesses can't afford that so it seems like campaign turn to contributions are mostly for these financial committee members and if that's true more than seventy percent of the money spence is members leadership of the house in the senate as well as the senate finance committee members of the house wa

the two thousand and twelve two thousand and six to two thousand and twelve campaign cycle and wells fargo spent one point seven million dollars and here's the amount g.e. should have paid and should have paid if they were paying the thirty five percent tax rate now not only did these companies not pay that much lower they actually paid negative tax rates between two thousand and eight and two thousand and ten you can see that in the yellow they were paid by the government as a reverse tax and this is a regressive corporate tax system where these large companies can pay more and get these tax breaks where smaller businesses can't afford that so it seems like these can train campaign turn to contributions are mostly for these financial committee members and if that's true more than seventy percent of the money spent is on members leadership of the house in the senate as well as the senate finance committee members of the house ways and means committee members and the top five. beneficiaries from the thirty corporations that paid no taxes between two thousand and eight and ten are steady why

jpmorgan and wells fargo kick off for the financials, both beating on the top and the bottom lines. a profit at jpm rising more than 30% as the bank bounced back from that massive trading loss in the second quarter a year ago. now it reported a 19% rise in profit, despite flat revenue. credit strengthened while home lending orange nations and applications rose from the first quarter. let's take a look at the boards there, and can you see them both edging higher. jpmorgan by a third of a percent and wells fargo by more than 2% at 42.80, but it was a major exclusive you could see only right here on cnbc, our jim cramer sitting down earlier today with jpmorgan's chief jamie dimon on "squawk on the street," and he spoke about the impact of rising rates, the state of the economy and regulation. let's take a good listen here. >> the american economy is getting -- slowly getting stronger so the lending will come back. they will start to do more capital investing so we're kind of confident that you'll see growth over the years as america recovers. >> it's pretty clear that when rates go up,

the wells fargo and jpmorgans, they bought a lot of banks and wells fargo has 30% of the mortgage market. i mean, that's phenomenal. no more cutthroat competition. banking is no longer a dog eat dog world. and you want to know who's simply not competing on price at all? the mortgage insurers. today mgic, one of the biggest, down in profit. to me that means you need to keep buying radian and genworth, my favorite specs for 2013, the two companies doing the best in business because mortgage insurance has become a slap-happy oligopoly. now let's take a look at the supermarkets for some of the big disappointments. there are some really incredible things here. alcoa kicked off earnings season with a dud. is anything more competitive than aluminum? not that i know of. they're constantly cutting prices in that business other than when goldman sachs is tacking a little or at least what the press says. coca-cola reported disappointing numbers. i think that's because few markets are more competitive than the drink market. there are constant price wars. if you've gone to the supermarket, a lot of t

ashley: wells fargo in the mortgage industry. all the refi's that will be done probably have already been done. now we have rising interest rates. >> rates are shooting up. last refi data we had was not pretty encouraging. so i'm a little worried about that. the bigger banks i'm worried about, get to citibank. talk about citi on monday. schwab, 8 7 cents, that hasn't changed. missed last time out. quarter before that they were only in line. obviously some execution issues. they have give out data how many trades were done, last one for may, 505,000 trades. that was up 17% year-over-year. up 8% month over month. that is pretty good. we might have seen an inflection point with respect to them with people out trading the market i'm not in schwab. i don't think i would buy it t has a very attractive chart. room to the up side. the stock i stayed away from for a while is citi. i got to tell you, wall street loves this stock. i don't know, i can't -- ashley: you don't know why? >> you know, it still seems to be pretty opaque to me. i'm

the wells fargo and jpmorgans, they bought a lot of banks and wells fargo has 30% of the mortgage market. i mean, that's phenomenal. no more cutthroat competition. banking is no longer a dog eat dog world. and you want to know who's simply not competing on price at all? the mortgage insurers. today mgic, one of the biggest, down in profit. to me that means you need to keep buying radiant and jenworth, my favorite specs for 2013 the two companies doing the best in business because mortgage insurance has become a slap-happy oligopoly. now let's take a look at the supermarkets for some of the big disappointments. there are some really incredible things here. alcoa kicked off earnings season with a dud. is anything more competitive than aluminum? not that i know of. they're constantly cutting prices in that business other than when goldman sachs is tacking a little or at least what the press says. coca-cola reported disappointing numbers. i think that's because few markets are more competitive than the drink market. there are constant -- if you've gone to the supermarket, a lot of these hots

. >>> news with mix wells fargo and jp morgan reported profits. >>> the owner of the online streamer hulu is taking that company off the market. it shows tv shows and movies from those network and had about 4 million page of describers. it appears so far those bids have been too low. >>> a be loved bay area bakery restaurant back opening after a fire of closure for two months. the cause of that fire was never determined. employees say they're glad to be back at work. the oakland landmark is open on its regular schedule from 7 a.m. to 10 p.m. everyday. >>> a member of the white house maybe soon on her way to california, rob roth tell us now. >> reporter: homeland security janet appears to be -- she's been dominated of the first president of the california of university. >> the board of search committee, he spoke with her today. >> one of the things she want to to do is visit the campus. i think that's an incredibly a positive step. >> the the ability as a leader is more important. >> she was recruited and she was sought after. >> in a statement, i realized i am a non traditional candi

paulson makes you feel while short-term caution can be warranted, short-term -- same with wells fargo. which is still going up for a remarkable quarter which happens to be, yes, wells fargo is any charitable trust large position. you know what else is really in the paulson sweet spot of mortgage lending? i get puzzled over this, but how about the largest ensurer of mortgages in the country? since we spoke to the ceo in june. sure, it's been hurt by a short-term slowdown. however, think of the long-term, please. this country, which is among the best specks in 2013, is ensuring the best paulson thinks is coming back the life because of the rise in housing prices. i'm throwing in jnw. pilot ever people continue to write negative articles about them. that's given them the run to join. how about the home builders? i don't know if they're as good at zoning. the others have too much going. i don't want to bet against the man and he's got the other side of the trade going. here's the bottom line. paulson, the man who is a bit short of housing, has got the big long on housing and you should go

. >> también hay 3600 dólares en cuenta de donaciones en el banco wells fargo que no se define como se distribuye . >> pueden tener ayuda por cruz roja americana también pueden tener apoyo pero el proceso es largo y complejo . >> continuamos con ustedes . >> [♪ ♪] . >> bocinados taxis piden que se regulen servicios de viaje compartido , taxistas dicen que lift y safecar son competencia ilegal piden reglas para la operación . >> en juicio de mujer acusada de matar esposo y a su hija . >> stacey tomo 7 a 8 estragos de vodka y lo mezclo con oxicodina ,. >> hombre herido después de ataque de sujetos en san francisco, por la policía la víctima reclamo robar a su hermana ahí uno lo golpeo con botella, la víctima esta en el hospital de san francisco . >> alguien robo articulso de vehículos en la vía 1 el sábado también entran a robar a casa, se piensan que sospechosos iban en un honda de dos puertas . >> ciudad de richmond busca ayudar a no perder viviendas alcaldesa dice qmandan cartas a bancos para comprar hipotecas . >> el plan al tener deudas se restructuran prestamos y pag

same with wells fargo. which is still going up for a remarkable quarter which happens to be, yes, wells fargo is a charitable trust large position. you know what else is really in the paulson sweet spot of mortgage lending? i get puzzled over this, but how about the largest insurer of mortgages in the country? we spoke to the ceo in june. sure, it's been hurt by a short-term slowdown. however, think of the long-term, please. this country, which is among the best specs in 2013, is ensuring the stuff paulson thinks is coming back the life because of the rise in housing prices. i'm throwing in gnw. people continue to write negative articles about them. fha is pulling out. they don't want to offer mortgage insurance. that's given them the run to joint. how about the home builders? i don't know if they're as good at zoning. the others have too much going. i don't want to bet against the man and he's got the other side of the trade going. here's the bottom line. paulson, the man who is a big short on housing, has

. >> hombre detenido después de asaltar banco , sujeto entreo en wells fargo en la calle en pantalla pidió dinero a cajero . >> el sospechoso lo detienen en daily city . >> en más ,la llegada del papa a brasil con inceinte que pone en jacke su seguridad . >> el chofer se atasco en trafico y causo alarma porque todos se abalanzaron contra el papa . >> tnemo smas . >> después de su llegada a rio de janeiro francisco pidió un modelo austero de la fiat, pero el recorrido se volcio confuso . >> se equivoco el conductor y quedo en el trafico la gente quiso fotografiarlo . >> escolta en problemas para controlar . >> esto causo retraso de 1 hora . >>ees visita histórica en el continente que lo vio nacer, y sobre todo en país de desigualdad social que el papa quiere evitar . >> uso helicóptero para llegar al palacio de rio de janeiro . >> la presidenta de la republica de brasil, dilma rousseff dio palabras de bienvenida al papa y el papa hablo de austeridad . >> no tengo oro ni plata, pero si a cristo . >> noticias univisión 14 . >> el papa estará una semana en brasil para vinculo co

. >>> outside the home of the ceo of wells fargo. the alliance is californians for community empowerment organized yesterday's rally in san francisco. protest organizers believe wells fargo could limit the principal. the bank said they will work to help owners. >>> although the economy is recovering, it's little consullation to anyone who has looked for a rob and come up empty-handed. jonathan bloom has the story of a man who came back from the brink of despair by creating his own job and now he's helping others do the same. >> tech shop is place inventors and crafts people come to learn new skills and use few tools. inside you find this man working on a laser cutter and outside a man is sleeping on the pavement next to the shopping cart. but it turns out they have something in common. >> in 2011 was the first night i spent in a homeless shelter. >> mike was a out of work person who went into a spin but he heard two talking about tech shop. >> it so happened they had a christmas special with the exact amount of money i had on me so i

jp morgan chase and wells fargo kick off earnings seasons. they are watching to see how fees have been holding up. for wells fargo, the biggest mortgage ridge nay tor watching for signs of lending progress. the 30-year mortgage rate, the highest in two years. the 15-year fixed 3.53% and 30 year $4.51. the 15-year fix second-degree a popular refinance tool. first time home buyers, 4.51 fixed is still a low rate but the highest in two years. economists say a stronger job market and higher hourly rates. the fed, at some point will have to stop pushing those low mortgage rates. the market has been saying the time is coming. >> interesting things as interest rates go up. it could force people to rush in and try to lock in and buy now. >> an interesting thing i saw is about a quarter, i think 28% of home purchases are first time home buyers. three quarters of the action in the housing market is not someone saying i saved up my money, recession is over, i'm going to buy a house for the first time. it's a lot of investors and flippers. we'll see what

wells fargo advisors. together we'll go far. >>> welcome back, everyone. a hot, steamy, overcast morning in new york city where it's been sticky and rainy the last few days. >> it is the first day of the second half of the year. >> welcome. >> half of it is over. welcome back to "early start." it's money time. stocks futures higher despite a weakness in china. weaker than expected growth in the second quarter. as i said, it's the first day of the second half of the year. the dow had the best half since 1999. up, 13%. the dow last week rose shy of 1%. the nasdaq was up 1.4%, s&p 500 up.9%. the best first half of the year for the dow since 1999. students this morning are being told to prepare for worst, hope for the best. the rate on student loans doubles today from 3.4% to 6.8%. congress unable to reach a compromise. after the july 4th recess, lawmakers could come up with a plan retroactive to july 1st. there are 7 million students it affects. it would add $4,500 to the cost of a four-year degree. this is a time when students are struggling. the average stu

. >>> housing activists demanded a stop to foreclosures right outside the home of wells fargo ceo. >> we are going to drag him out and put him in jail. >> the alliance of california for power says wells fargo could limit foreclosures by reducing the principal many owe. they issued a statement saying, quote, our work to help customers with payment challenges has resulted in a foreclosure rate of less than 1% of owner occupied loans in our servicing portfolio in the past year. >>> new details about a reward for information identifying a person who left poisoned meatballs throughout san francisco. officials with the animal legal defense fund say the reward now stands at $5,000. the tainted meatballs were found in the diamond heights and the twin peeks neighborhood. the laced meatballs were left to kill out dogs. one dog who ate one died earlier this month. >>> federal officials will no longer allow falcon checks to be rescued from bay area bridges. a sign of their rebound from extinction. they often nest on tall urban structures making it easy to hunt their food, other flying birds. 2,00

i prefer wells fargo, which happens to be the large position in my charitable trust. the first tweet is from -- who wants to know time to sell nokia. nokia's a r very spresing name. why? because it reported a weak quarter. yet the stock didn't go down and some of the -- was pretty good. i think you can own the stock for a 20% move and do not need to sell it now. up next, a tweet and it says saw you like vlo with baked in movement and possible bottom. how about tso and 9.2 times earnings, 4.5% growth rate. just to go back over, i think this is important -- what i was saying wasn't that i -- i can understand why people -- why? which isn't nearly as good. so please don't take my endorsement on the fact vaerro didn't have such downside. that's all the tweets we have time for. back after the break. at a dry cleaner, we replaced people with a machine. what? customers didn't like it. so why do banks do it? hello? hello?! if your bank doesn't let you talk to a real person 24/7, you need an ally. hello? ally bank. your money needs an ally. [ chainsaw buzzing ] humans. sometime

i prefer wells fargo, which happens to be the large position in my charitable trust. the first tweet is from -- who wants to know time to sell nokia. nokia's a r very spresing name. why? because it reported a weak quarter. yet the stock didn't go down and some of the -- was pretty good. i think you can own the stock for a 20% move and do not need to sell it now. up next, a tweet and it says saw you like vlo with baked in movement and possible bottom. how about tso and 9.2 times earnings, 4.5% growth rate. just to go back over, i think this is important -- what i was saying wasn't that i -- i can understand why people -- why? which isn't nearly as good. so please don't take my endorsement on the fact vaerro didn't have such downside. that's all the tweets we have time for. back after the break. hmm...fifteen minutes could save you fifteen percent or more on car insurance. yep, everybody knows that. well, did you know some owls aren't that wise? don't forget i'm having brunch with meghan tomorrow. who? meghan, my coworker. who? seriously? you've met her like three times

morgan and wills fargo. so far so good for this particular group during this earnings season. liz: it is encouraging, but we need to talk about the fact that the big banks like morgan stanley, many of them have been complaining about the stricter capitol requirements recently requested. one regional bank is pretty big. unconcerned about the new rules. in fact, there are so high above the bar that they don't look at this as it was a big deal. joining me now in a fox business exclusive. let me just say, your stock is up 48% year-over-year. even under that circumstance, what kind of capital ratio requirements have you been able to blow past. just make it clear, regulators have said you have to have 6% of whatever, 700 billion unallocated assets. where are you standing on this? all we hear from the big money-center banks is complaints >> the new rules come as you know cannot earlier this month and indicated that they were looking for a minimum capital ratio of around 7% with buffers. one of the advantages, we are sitting at 111% capital as we close the second quarter. the base of

also wells fargo in there. more earnings to come throughout the day. >> good morning, pam. >> good morning. >> thank you for joining us here on the ktvu channel 2 morning news. it's friday, july 12th i'm brian flores. dave clark has the morning off. >> good morning, i'm pam cook. >> we continue with developing news from sfo. the few sal lodge of 2 -- the fuselage of flight 214 is being towed away. >> we have an unbelievable first look at you. you will only see this on ktvu this morning. we have found where they have towed this plane. you can take a very close look at the damage. up until now we have never been able to get close. they vice president allowed us out on the runway where this wreckage was sitting. we've been following it around the airport. we have tracked it down to this location. there you can see really kind of takes your breath away when you take a look at what is left of this triple 7 that has been sitting out on the runway for the past week. i want to pan over to show you one of the pieces of

wells fargo is one of the five largest u.s. banks involved in the mortgage scandal recently it's been accused of racial discrimination by the city of baltimore for forging the records of many of its african-american customers. i. think. that's. a really. live. live. live. live. live. live. live. if. the fierce confrontation between the gyptian army and the muslim brotherhood turns bloody more than seventy people are confirmed dead in cairo clashes each camp blaming the other for inciting the violence. stories that shape the week right here in our t.v. it's still transit limbo for edward snowden he's waiting for paperwork that will allow him to leave a moscow airport amid fresh threats from washington. the syrian national council agrees to take part in a peace conference but first demands that assad step down and ask the u.s. to ship arms to the opposition this has divisions within the rebel camp highlights the possibility of internal strife.

wells fargo is one of the five largest u.s. banks involved in the mortgage scandal recently it's been accused of racial discrimination by the city of baltimore for forging the records of many of its african-american customers. let me let me are going to let me ask you a question. here on this network is what we're having the debate we have our knives out and. the issue is this money was spent standing there to get here in a situation where being i didn't really talk about the surveillance me. last time was a new alert animation scripts scare me a little bit. leave it there is breaking news tonight and we are continuing to follow the breaking news event the alexander family cry tears of it great things rather that. we ever read dark and of course a wall around our lives there's a story made sort of movies playing out in real life. more news today violence is once again flared up. and these are the images the world has been seeing from the streets of canada. trying to corporations are old today. well i'm john berman in washington

wells fargo is one of the five largest u.s. banks involved in the mortgage scandal recently it's been accused of racial discrimination by the city of baltimore for forging the records of many of its african-american customers. i've seen the perception of the cross many times it doesn't matter if there's snow a heat wave or hail stones from people keep going i didn't expect anything just one i told myself i keep on going as long as my heart told me to that's all i want to at the moment. hanson so mind she see i'm carrying these sayings on my shoulder. do you want me to put a bandage here no that's fine a lot of people were so exhausted they could barely walk their feet hurt and some of them fainted google read back to it three to wanted to keep going i don't know what tomorrow will bring. down load. up location so. choose your language stream quality and enjoy your favorite. if you're away from your television just doesn't sit well with your mobile devices you can watch on t.v. anytime anywhere. limitation and free liquidation f

wells fargo goes much higher. emily in rhode island? >> caller: boo-yah from providence, rhode island. i had a question about linked in. >> a lot of people feel like that that last quarter was not that good. i think they're doing some spending in order to be able to dominate the category. buy buy buy. i think it's an opportunity to buy. i think it's well-run company. let's go to david in maryland. david? >> caller: hello? >> you're up. >> caller: all right. >> go ahead. how about a stock, dave? >> caller: hello. >> go ahead, dave. >> caller: i'm calling about amd. >> i saw it was down for the first time today. you know what? buy buy buy buy? this stock is inexpensive. got a bunch of gaming consoles in the next quarter. i think that amd can go to five, and therefore own it. jim in illinois? >> caller: jim, enjoy the show very much. >> thank you. >> caller: sir, i was wondering about navistar. >> navistar is one of those situations, sure, maybe they get it together, but then cummings goes to 120. the reason you buy cummins is because of p

wells fargo is one of the five largest u.s. banks involved in the mortgage scandal recently it's been accused of racial discrimination by the city of baltimore for forging the records of many of its african-american customers. the main competitor girl on the market is mother nature. may customers struggle with to. fight for each drop from a dirty supply. let people think i am prices pure water. on our teeth. they use it up there and wash their hands. and flush their toilets with the same. this series is selling spring water. to me speed told language the truth will programs in documentaries in arabic in school here on the t.v. reporting from the world's hot spots the v.o.i.p. interviews intriguing story for you. then try. to find out more visit our big teeth dog called. broken dreams in sobering reality says the u.s. gone from a country with a belief of ever greater prosperity and upward mobility to one where more and more get by on low wages and in jobs that will always be temporary so differently can employment now and in the

wells fargo is one of the five largest u.s. banks involved in the mortgage scandal recently it's been accused of racial discrimination by the city of baltimore for forging the records of many of its african-american customers. to. this point son eligible dates and you try to transmission makes for a smoother ride bush and scientists could crystal's the e.u. says he's laser sight sometimes and one of the take giants comes to. the central. mission. couldn't take three. more chargers free. range and three. three. three. three broadcast quality video for your media projects free media r t v dot com. do we speak your language anything about the will not advance. music programs and document. stories. to teach me. breaking news this hour and snowden has reportedly submitted documents to a border control area of the airport he has been holed up and shortly after the russian the lawyer assisting him brought the official papers whistleblower needs to leave the transit zone. it is six pm in the russian capital you're watching r t with me

wells fargo was one of the five largest u.s. banks involved in the mortgage scandal recently it's been accused of racial discrimination by the city of baltimore for forging the records of many of its african-american customers. after costing trillions of dollars charge for fighting personal freedoms and ingratiating when seeking corporations can anyone claim the u.s. in the world is any safer from the city as plants of terrorists what is the difference between an act of terrorism in western style humanitarian intervention. to. this point. and you try to transmission makes for a smoother ride bush and scientists could crystal's the e.u. says he's laser sight sometimes on one of the take giants comes to. the update on. the central. heating. if. the emission free critic should free transport charges free coming from inside the free risk free studio time free. download free blog plug in video for your media projects and free media oh don tarty dot com the. little bit of cold. blood. that speak. to. her. i wish i was. a locksmith goo

wells fargo was one of the five largest u.s. banks involved in the mortgage scandal recently it's been accused of racial discrimination by the city of baltimore for forging the records of many of its african-american customers. was. right to see. her strip. and i think picture. on our reporter's. in their lives and still live lives in the live in laughlin. live live . live. live live. live . i've seen the perception of the cross many times it doesn't matter if there's snow a heat wave or hail stones from people keep on going i don't expect anything just one i told myself i keep on going as long as my heart told me to that's all i want to at the moment. i have send so mind she's seen i'm carrying these sayings on my shoulder. do you want me to put a bandage here you know that's fine a lot of people were so exhausted they could barely walk their feet hurt and some of them fainted with the evacuees three two wanted to keep going i don't know what tomorrow will bring. the n.s.a. is moscow actually no phone calls and e-mails will go

we have both jpmorgan and wells fargo. even with the recent bullish comment by bernanke about extending qe, i think there is still a lot of head winds in the mortgage space and housing sector. jpmorgan will probably be rosier on their call. i think trading has a positive outlook and i think even with regulations and further leverage ratios tightened, i think it is a bullish outlook. so you should see the rally continue tomorrow. >> we'll be watching. thank you guys. >>> up next, one of the most popular die dietary is up lesupplements on market could lead to higher cancer risks. washing-machine hoses every five years? what if you didn't know that you might need extra coverage for more expensive items? and what if you didn't know that teen drivers are four times more likely to get into an accident? 'sup the more you know, the better you can plan for what's ahead. talk to farmers and get smarter about your insurance. ♪ we are farmers bum - pa - dum, bum - bum - bum -bum ♪ this is greta. she works in quality control. she m

>> the companies we bailed out were citibank, bank of america, wells fargo. those are the once who got the big tarp money. too big to fail is something that will take a lot of pieces to solve it. i don't kid myself on that. dodd-frank is part of that. it dialed some. risk out. system. we're getting higher capital requirements which i think is really ggod but the point is, it takes more. and, what this is about is one more way to bring down the size off the largest integrated financial institution, so the risky part is separated from what should be the boring part. >> you can imagine big banks and wall street firms are not too thrilled with this. the financial services roundtable among others said dodd-frank regulation, that's enough. okay? also want to mention a little bit, do a little promotion here. we've been following everything happening at the fed as you know. all the comments there. we have an exclusive interview next tuesday with the head of the federal reserve bank of kansas city, esther george. she is a voting member of the fomc this year. she total

. >>> housing activists demanded a stop to foreclosures right outside the home of wells fargo ceo. >> we are going to drag him out and put him in jail. >> the alliance of california for power says wells fargo could limit foreclosures by reducing the principal many owe. they sa statement saying, quote, our work to help customers with payment challenges has resulted in a foreclosure rate of less than 1% of owner occupied loans in our servicing portfolio in the past year. >>> new details about a reward for information identifying a person who left poisoned meatballs throughout san francisco.malficials with the al legal defense fund say the reward now stands at $5,000. the tainted meatballs were found in the diamond heights and the twin peeks neighborhood. the laced meatballs were left to kill out dogs. one dog who ate one died earlier this month. >>> federal officials will no longer allow falcon checks to be rescued from bay area bridges. a sign of their rebound from extinction. they often nest on tall urban structures making it easy to hunt their food, other flying birds. 2,000 of them

along with banks like capital one, bank of america, morgan stanley and wells fargo. health care names like dow stocks, united health and j&j. it's a standout quarter, as well as housing. whirlpool shot the lights out. and sherm wynn williams. let's not forget union pacific. the big railroad that's the dominant transport layer in a market that loves the transports. google and intel reported weak earnings. although, google wasn't all that bad. you know what, i think it's going to get better again so please don't give up the ship if you're in there. i think maybe not, if you're not, you should buy it, contrary to view. let's talk earnings. mcdonald's reports on monday morning. many are expecting a weak number. that's the chatter. when you have that kind of situation where expectations are low, be on lookout for a buying opportunity. this is a fabulous company that's doing many things right. they're innovating. they're opening with new hours. i say bet with it, not against it. after the close we hear from netflix. that's a cold stock. so beware it's very hard to gain thi

wells fargo is one of the five largest u.s. banks involved in the mortgage scandal recently it's been accused of racial discrimination by the city of baltimore for forging the records of many of its african-american customers. was. wealthy british style. time right. market. find out what's really happening to the global economy with my next concert no holds barred look at the global financial headlines tune into kinds a report. download the official application to yourself choose your language stream quite. see and enjoy your favorite. if you're away from your television and well it just doesn't matter now with your mobile device you can watch on t.v. anytime anywhere and. lead. time as a new alert animation scripts scare me a little the evening. there is breaking news tonight and we are continuing to follow the breaking news the name the alexander family cry tears of joy at your grave things that have read dark and a court of law was found alive there's a story made for a movie is playing out in real life. lead to. more news t