welcome to our program i'm burnt maria coming up in just a few moments my sitdown interview with goldman sachs and david solomon on business in 2020. and then my amateur view with growth in the global market, allocating capital today. first let's talk earnings. apple's record-breaking quarter relisted its highest revenue ever is $8 billion as last week boosted by iphone with failed sales leading up the holidays. that apple user base has reached one and a half billion people. joining me right now is a founding pound or dan niles who has been spot on and apple all these years. good to see you. thanks much for joining us for it i want to get your take on apple and i know you have been investing around apple. i think it's really important point that our viewers are gonna want to see. what is your reaction to the quarter? you look at the surface on the numbers and they put up 9% revenue growth. they put up 19% earning growth year-over-year. so on the surface you say wow that's fantastic. but when you look a little deeper, the problem i have with apple is really the same problem i have with th

maria: coming up goldman sachs maria: coming up goldman sachs ceo is my money should work as hard as i do. that's why i use my freedom unlimited card every time i get gas. give me a little slack! with freedom unlimited, you're always earning. i said i need some slack on pump three! beyond the routine checkups. beyond the not-so-routine cases. comcast business is helping doctors provide care in whole new ways. all working with a new generation of technologies powered by our gig-speed network. because beyond technology... there is human ingenuity. every day, comcast business is helping businesses go beyond the expected. to do the extraordinary. take your business beyond. apps except work.rywhere... why is that? is it because people love filling out forms? maybe they like checking with their supervisor to see how much vacation time they have. or sending corporate their expense reports. i'll let you in on a little secret. they don't. by empowering employees to manage their own tasks, paycom frees you to focus on the business of business. to learn more, visit paycom.com my money should wo

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you asked this on twitter or on facebook or you tube you the individual who's not goldman sachs would be the platform for asking this but goldman sachs asks in biotech research report is curing patients a sustainable business model and they ask this and april 10th report entitled the genome revolution the potential to deliver a one shot cure is one of the most attractive aspects of gene therapy genetically engineer itself gene editing however such treatments offer a very different outlook with regard to recurring revenue versus chronic therapies said salvia richter in a note to clients while this proposition carries tremendous value for patients and society it could represent a challenge for genome medicine developers looking for a sustained cash flow and he cited treatments for hepatitis c. which they used to earn about 12500000000 a year but it's now down to about 4000000000 because people right is caring people

of goldman sachs and they mentioned tarp he gave them inside information that tarp was coming so they got to front on that and that's why a boy blankfein became a billionaire for running the utility of a of a bank you know goldman sachs is now a bank not a hedge fund essentially but again talking about this trying to propagandize the americans that is not the elites we the elites have and destroy the economy it must be somebody out there thousands and thousands of miles away who doesn't speak english and but he has weaponized means that he's the one doing this here's a final tweet here about the gallup poll gallup 60 percent of americans say they are better off now than when trump took office compared to just 36 percent who say they are not that is higher than during the reelection campaigns of obama george w. bush clinton or h.w. bush 60 percent of independents say they're better off than 3 years ago. and this fact happens when trump wins reelection lloyd blankfein will say that he had nothing to do with this that is somebody else will find summaries and they'll be the ones on the te

zero, that's what goldman sachs says u.s. companies should expect early this year due to no profit growth because of the economic fallout from the virus and the number one for a single coronavirus case in northern california that is raising serious fears about the spread of the disease. >> the patient in california did not travel to another country recently and did not knowingly come into contact with another infected patient. and that's what has everyone so worried because this means this could be the first case of

sachs that's a question yes ok now perfect example you have a sadist a sadistic organization goldman sachs they're given unlimited money billions hundreds of billions of dollars and pay no interest on that money to. to introduce genocide as a service right so they're the genocide business is that goldman sachs definitely predatory behavior this is this is their mindset they're looking for profit so as we saw in the testimony when they were packaging those mortgage backed securities that they knew were going to wipe out your pension fund they knew it and but they said it was the algorithm selling this to end the pension funds wanted it they wanted this risk so we have predatory behavior where ever we look and there let me just jump in for you know tax yo ploughs mosis is the brain psychotic episode one has if you in by cat litter coop yeah right and a lot of executives on wall street purposefully do that they eat cat poop to instill a sense to engender tax plus most of us so they can act without empathy and rate profits and they're given by society by the banks unlimited free money to

because again he said that that sanders doesn't care about the military but again goldman sachs pays less than 12 percent tax rate lloyd blankfein himself i don't know what he pays but i'm sure we know for a fact according to the i.r.s. that the billionaires pay less taxes than the working class there are loads of people in america who are the elite they pay very little taxes relative to everybody else but they love spending our money on military and big wars and budgets like that so again i'm going to turn to another tweet response to this from chris our nod he's written is an amazing book about the deplorable is traveling across america talking to deplorable people that are outside the you know the front row class the people like lloyd blankfein and hillary clinton and everybody on m.s.n. b.c. and he used to be a banker and i'm not sure if it was that goldman sachs but it was one of the wall street banks there if i'm russian i would go with hawking synthetic c.d.o. is to blow up the u.s. economy and screw over homeowners like this is so obvious it should be so transparent that the

you asked this on twitter or on facebook or you tube you the individual who's not goldman sachs would be the platform for asking this but goldman sachs asks in biotech research report is curing patients a sustainable business model and they ask this and april 10th report entitled the genome revolution the potential to deliver a one shot cure is one of the most attractive aspects of gene therapy genetically engineer itself gene editing however such treatments offer a very different outlook with regard to recurring revenue versus chronic therapies said salvia richter in a note to clients while this proposition carries tremendous value for patients and society it could represent a challenge for genome medicine developers looking for a sustained cash flow and he cited treatments for hepatitis c. which they used to earn about 12500000000 a year but it's now down to about 4000000000 because people right is caring people a sustainable business model of goldman sachs that's a question yes ok now a perfect example you have a sadist a sadistic organization goldman sachs they're given unlimited

of goldman sachs and they mentioned tarp he gave them inside information that tarp was coming so they got to front on that and that's why the boy blankfein became a billionaire for running the utility of a of a bank you know goldman sachs is now a bank not a hedge fund essentially but again talking about this trying to propagandize the americans that is not the elites we the elites have and destroy the economy it must be somebody out there thousands and thousands of miles away who doesn't speak english and but he has weaponized means that he's the one doing this here's a final tweet here about the gallup poll gallup 60 percent of americans say they are better off now than when trump took office compared to just 36 percent who say they are not that is higher than during the reelection campaigns of obama george w. bush clinton or h.w. bush 60 percent of independents say they're better off than 3 years ago when this fact happens when trump wins reelection lloyd blankfein will say that he had nothing to do with this that is somebody else he'll find some reason and they'll be the ones on t

of goldman sachs and they mentioned tarp he gave them inside information that tarp was coming so they got to front on that and that's why the boy blankfein became a billionaire for running the utility of a of a bank you know goldman sachs is now a bank not a hedge fund essentially but again talking about this trying to propagandize the americans that is not the elites we the elites have and destroy the economy it must be somebody out there thousands and thousands of miles away who doesn't speak english and but he has weaponized means that he's the one doing this here's a final tweet here about the gallup poll gallup 60 percent of americans say they are better off now than when trump took office compared to just 36 percent who say they are not that is higher than during the reelection campaigns of obama george w. bush clinton or h.w. bush 60 percent of independents say they're better off than 3 years ago when this fact happens when trump wins reelection lloyd blankfein will say that he had nothing to do with this that is somebody else will find some reason and they'll be the ones on th

plus doubling down where does it leave goldman? we'll explain that piping hot stock walk out on oracle and political ads all over mulu. we begin with bob pisani with the latest on this market. bob? >> interesting ten-minute period after 11:00 a.m. eastern time when we saw a roughly 300-point drop someone decided to lighten up. no immediate headlines around coronavirus or anything else somebody obviously decided to take a little money off the table. you take a look at some of the big momentum names we've seen. that's where you saw most of that early damage. virgin galactic, the momentum stock dropped 32 to 31 in literally a few minutes. tesla had a big drop another big momentum sector drop it's been going sideways the last week, running out of some steam, down about 2% another factor, 10-year yields dropping you saw a new lows for the year there. that got people thinking about what the implications of that may be finally it's strange when the markets are new highs. there's also new highs gold we saw, seven-year high dollar, three-ye

of goldman sachs and they mentioned tarp he gave them inside information that tarp was coming so they got to front on that and that's why a boy blankfein became a billionaire for running the utility of a of a bank you know goldman sachs is now a bank not a hedge fund essentially but again talking about this trying to propagandize the americans that is not the elites we the elites have and destroy the economy it must be somebody out there thousands and thousands of miles away who doesn't speak english and but he has weaponized means that he's the one doing this here's a final tweet here about the gallup poll gallup 60 percent of americans say they are better off now than when trump took office compared to just 36 percent who say they are not that is higher than during the reelection campaigns of obama george w. bush clinton or h.w. bush 60 percent of independents say they're better off than 3 years ago when this fact happens when trump wins reelection lloyd blankfein will say that he had nothing to do with this that is somebody else will find some reason and they'll be the ones on the

of goldman sachs and they mentioned tarp he gave them inside information that tarp was coming so they got to front on that and that's why the boy blankfein became a billionaire for running the utility of a of a bank you know goldman sachs is now a bank not a hedge fund essentially but again talking about this trying to propagandize the americans that is not the elites we the elites have and destroy the economy it must be somebody out there thousands and thousands of miles. the way he doesn't speak english and but he has weaponized means that he's the one doing this here's a final tweet here about the gallup poll gallup 60 percent of americans say they are better off now than when trump took office compared to just 36 percent who say they are not that is higher than during the reelection campaigns of obama george w. bush clinton or h.w. bush 60 percent of independents say they're better off than 3 years ago when this fact happens when trump wins reelection lloyd blankfein will say that he had nothing to do with this that is somebody else will find some reason and they'll be the ones on

you asked this on twitter or on facebook or you tube you the individual who's not goldman sachs would be the platform for asking this but goldman sachs asks in biotech research report is curing patients a sustainable business model and they ask this and april 10th report entitled the genome revolution the potential to deliver a one shot cure is one of the most attractive aspects of gene therapy genetically engineered cell therapy and gene editing however such treatments offer a very different outlook with regard to recurring revenue versus chronic therapies said salvia richter in a note to clients while this proposition carries tremendous value for patients and society it could represent a challenge for genome medicine developers looking for a sustained cash flow and he cited treatments for hepatitis c. which they use or earn about $12500000000.00 a year but it's now down to about $4000000000.00 because people right is caring people a sustainable business model according to goldman sachs that's a question yes ok now perfect example you have a sadist a sadistic organization goldman sac

you asked this on twitter or on facebook or you tube you the individual who's not goldman sachs would be the platform for asking this but goldman sachs asks in biotech research report is curing patients a sustainable business model and they ask this and april 10th report entitled the genome revolution the potential to deliver a one shot cure is one of the most attractive aspects of gene therapy genetically engineered cell therapy and gene editing however such treatments offer a very different outlook with regard to recurring revenue versus chronic therapies said salvia richter and i note to clients while that this proposition carries tremendous value for patients and society it could represent a challenge for genome medicine developers looking for a sustained cash flow and he cited treatments for hepatitis c. which they use or earn about $12500000000.00 a year but it's now down to about $4000000000.00 because people right is caring people a sustainable business model goldman sachs that's a question yes ok now the perfect example you have a sadist a sadistic organization goldman sachs

she has been with goldman sachs since 1993. she is now the global treasurer and has an important role in ensuring goldman sachs is able to meet profitability targets they have set for the first time ever. she had a lot of challenging roles. there are some interesting places she could go, including leading trading, cfo. what are the challenges she has ahead? have beenf insiders ensuring she plays a big part in achieving the new profitability target. it is some sign she is ready to catapult a higher office. there are senior options available, cfo is one, leading the trading division. goldman sachs pledged to diversify their ranks, but it is harder than it seems. when you think about the senior women who could fit into these roles, that number is not huge. it is a small number of women, and she features in every conversation. romaine: she was elevated to treasurer a couple of years ago. there was some concerned you taking somebody away from a more viable position on the trading desk, moving her to treasurer. how is she received wi

this is in a business they are already in and i think they could do a deal like this, certain goldman could do a deal like this, but i'm not sure that a large financial institution, that the regulars would allow it >> one last thing. yesterday in a filing, bank of america cited the possibility of negative interest rates in the united states as a business risk for the first time is that something that's being talked about more openly, do you think, than say last year? >> the only talk about it is it doesn't make any sense i don't believe in negative rates. how long have we had negative interest rates in japan? how has the their economy done in the last 15, 20 years i don't think it helps i think it hurts you have to have a strong financial institution and of course it reduces the income of financial institutions so i don't think there's any possibility in the near term that we have negative interest rates in the united states >> your point on japan is a good one on the heels of that last gdp print. thank you as always for the guidance dick kovacevich. one of the big earnings movers is

>> reporter: yeah, david, goldman tells us he is being checked every three hours. so far, the good news is, he is not showing any signs of a fever, but he and the other 12 patients here are going to have to be totally symptom-free for the next 14 days before they're allowed to leave. goldman says he is eager to catch another flight, this time home to los angeles. david? >> all right, clayton sandell leading us off tonight. clayton, thank you. >>> we turn next tonight to the race for 2020, and tonight, former new york city mayor mike bloomberg taking to the debate stage for the first time. bloomberg making his first appearance, after spending at least $400 million on political ads. also tonight, this debate comes as bernie sanders pulls into the lead in our new abc news/"washington post" poll and other polls, too. sanders ahead of all of the other democrats now by double digits. and so tonight, the bloomberg campaign with their own message. what they call a dire warning, saying sanders could have the math wrapped up after super tuesday, with the moderates dividing t

of goldman sachs and they mentioned tarp he gave them inside information that tarp was coming so they got to front on that and that's why the boy blankfein became a billionaire for running the utility of a of a bank you know goldman sachs is now a bank not a hedge fund essentially but again talking about this trying to propagandize the americans that is not the elites we the elites have and destroy the economy it must be somebody out there thousands and thousands of miles away who doesn't speak english and but he has weaponized means that he's the one doing this here's a final tweet here about the gallup poll gallup 60 percent of americans say they are better off now than when trump took office compared to just 36 percent who say they are not that is higher than during the reelection campaigns of obama george w. bush clinton or h.w. bush 60 percent of independents say they're better off than 3 years ago when this fact happened. when trump wins reelection lloyd blankfein will say that he had nothing to do with this that somebody else will find summaries and they'll be the ones on the t

you asked this on twitter or on facebook or you tube you the individual who's not goldman sachs would be the platform for asking this but goldman sachs asks in biotech research report is curing patients a sustainable business model and they ask this and april 10th report entitled the genome revolution the potential to deliver a one shot cure is one of the most attractive aspects of gene therapy genetically engineer itself gene editing however such treatments offer a very different outlook with regard to recurring revenue versus chronic therapies said salvia richter in a note to clients while this proposition carries tremendous value for patients and society it could represent a challenge for genome medicine developers looking for a sustained cash flow and he cited treatments for hepatitis c. which they use or earn about 12500000000 a year but it's now down to about 4000000000 because people right is caring people a sustainable business model according to goldman sachs that's a question yes ok now a perfect example you have a sadist a sadistic organization goldman sachs they're given u

morgan stanley has eclipsed goldman sachs in terms of stock market valuation, particularly as goldman sachs has basically meandered and is having a difficult time finding a business model. they are going into -- they were known as a trading firm, high end investment bank. morgan stanley is known as white shoe as well but morgan stanley made the transition to dealing with small investors. goldman sachs has not made that transition, despite the fact you have regulations that essentially force banks into that space. so they are caught off guard on this thing, they have to respond. the response, we understand, will be buying a brokerage firm or buying registered investment advisers. there's a few firms like that that you can buy. hillman & freedman is one. you can piece them together and buy out your retail banking effort. morgan stanley last stand, from what i understand, is not e-trade. james gorman, people close to him say will buy or wants to buy before he retires, a commercial bank to even out that firm. midsized commercial bank. he has spoken about that with people from what i under

sachs that's a question yes ok now perfect example you have a sadist a sadistic organization goldman sachs they're given unlimited money billions hundreds of billions of dollars and pay no interest on that money to to to introduce genocide as a service right so they're the genocide business that's goldman sachs definitely predatory behavior that this is this is their mindset they're looking for profit so as we saw in the testimony when they were packaging those mortgage backed securities that they knew were going to wipe out your pension fund they knew it and but they said it was the algorithm selling this to end the pension funds wanted it they wanted this risk so we have predatory behavior where ever we look and say let me just jump in for you know tax yo ploughs mosis is the brain psychotic episode one has if you in by cat litter coop yeah right and a lot of executives on wall street purposefully do that they eat cat poop to instill a sense to engender tax plus most of us so they can act without empathy and rate profits and they're given by society by the banks unlimited free mone

sonali: is a new era at goldman sachs. some great reporting by my colleague who has been on the tail of these executives coming in and out of this bank. came in, so many people just two years ago as a partner at a very high level here. it is not that this part of the business is not important to the business right now. that is the whole unique part of the story. these are people leaving at a very important part of change at goldman sachs. scarlet: if that is the case, it is a case of goldman not able to hold onto talent because others are willing to poach them? or do we have a sense of where they are going to order where the -- to or what they are planning to do? sonali: some may go to private equity firms, hedge funds we have heard of, venture capital firms. so away. with that said, let me read you a text today that one of the competitors sent me. they are also limiting about taking shares from goldman sachs in these businesses. traders to bankers happening at goldman sachs. we are listening to them speak today at the eco

goldman looking at e*trade. that is what we will be trying to answer, how much they it, buf these banks since the crisis have looked to diversify their business models and push away from risky balance sheet behavior and more into the retail space. markets, a huge growth area for them. about doesuestions it pressure goldman to try to follow suit. vonnie: one of the complaints on the call was that this is an anbrand type of strategy for investment bank, but is that a complaint from the 1990's or early 2000's? all of these major banks are changing the way they operate now. they need to get the millennials and generation z, and they need to change how they are. >> they are all changing. gorman made that clear on the call. for him, it was really a strategic position looking to the future. areaid the young people using electronic services, using their phones, using internet, and we need to get to that technology. this is a technology investment, he basically said. we need to make the technology investment to stay comp

but "follow the money" is probably the most famous william goldman line. you've heard it repeated countless times during the investigations of donald trump. but within show business william goldman has an equally famous line that appeared in one of his books, and it defines the moment we are now in in the presidential campaign, and that line is "nobody knows anything." in a wonderful must-read book about show business entitled "adventures in the screen trade" william goldman wrote, "nobody knows anything. not one person in the entire motion picture field knows for certainty what's going to work. every time out it's a guess and, if you're lucky, an educated one." so tonight's william goldman lesson is nobody knows anything, not one person in the entire political field, knows for a certainty what's going to happen. and every time we predict something it's a guess. and if you're lucky an educated one. no amount of political education has prepared us for the moment we are in now. too much of this is new. a front-runner for the democratic presidential nominatio

citigroup and goldman sachs expect zero growth in earnings this year. bank of america has cut its forecast for global growth to 2.8% for this year. for more on the market reaction to the virus in asia, juliet joins us from singapore. we see u.s. and european futures taking a significant hit, all down between 1% and 3%. how is it looking in asia? >> it is looking really ugly, to put it bluntly, but remember, it's also the last trading day of the month. asian investors on track for the worst month since the global financial crisis. the nikkei closing lower by 3.8%, 3.7 percent, its biggest drop since december 2018. in australia, we entered correction territory today, down 3.3% on the close, the worst drop since september 2015, down for a sixth session in a row. a career, of course, already in correction, down 10% -- or 11%, actually, from the peak before lunar new year. been holdings have up quite well due to the fact that we have seen so much stimulus and promise of stimulus push through. no surprise, you are seeing money going into the bond market, yiel

one other thing i would add because we are talking about goldman and united capital, when goldman bought united capital, and i think that was part of a transaction that united capital they had bought some smaller players, and we would leave that as an entity and not try to absorb it into goldman. think that is helpful from a cultural perspective. alix: i wonder, when we talk about e*trade -- david: and the day will come up later. alix: sure. what's in a name? alison williams, thank you. kathy jones and david bahnsen be sticking with me. as we had to break, some more breaking news. el brands says that leslie buckner will be stepping down as thatman -- l brands says les wexner will be stepping down as chairman and ceo. than 11% is down more in premarket. this is bloomberg. ♪ viviana: this is "bloomberg daybreak." is goings secret private. brand andill sell the keep a 45% stake, but billionaire ceo and chairman leslie wexner will step down. now to the japanese parent of 7-eleven stores. it is in talks to acquire marathon speedway gas stations for $22 billion. a deal could be announced as

>> reporter: yeah, david, goldman tells us he is being checked every three hours. so far, the good news is, he is not showing any signs of a patitsere are going total sy the next 14 days before they're allowed to leave. goldman says he is eager to catch another flight, this time home to los angeles.20nd tonigh erg making his first appearance after spending at least $400 million on polso, ise lead in our new abc news/"washington post" poll and other polls, too. sanders ahead of all the other democrats by double digits. and so tonight, the bloomberg campaign with their own message. what they call a dire warning, saying sanders could have the math wrapped up after super tuesday. with the moderates dividing the rest of the vote. but the candidates are not having it, saying that bloomberg, in fact, you're twriing to buy the nomination. mary bruce in nevada tonight. >> reporter: tonight, for the first time, michael bloomberg steps out from behind his $400 million campaign and onto the national debate stage. his rivals waiting. >> working people of this country are tired

you say that goldman sachs took a look at this and passed. >> we just reported on cnbc.com that yes, everybody knew this was an asset available for sale. they looked at it and decided to pass >> jeff, were they right to pass and was morgan stanley right to buy? >> goldman said they looked at everything this was a known asset for sale so i would imagine they looked at it, but i think from a fit perspective, they were right to pass goldman is building it organically and don't have the network to feed it with so probably didn't make as much sense for goldman but i think it makes sense for morgan stanley economics a little strained, but it's a pretty nice fit >> so was the price right as far as you could tell? >> there's kind of two ways i'm looking at a one, just straight off price they paid depending on how you include expense synergies, somewhere around 11 times forward earnings which doesn't seem unreasonable. the problem is they're paying a morgan stanley stock trading closer to nine times forward earnings that kind of makes the math a little tougher and there's not a lot of cost to

but "follow the money" is probably the most famous william goldman line. you've heard it repeated countless times during the investigations of donald trump. but within show business william goldman has an equally famous line that appeared in one of his books, and it defines the moment we are now in in the presidential campaign, and that line is "nobody knows anything." in a wonderful must-read book about show business entitled "adventures in the screen trade" william goldman wrote, "nobody knows anything. not one person in the entire motion picture field knows for certainty what's going to work. every time out it's a guess and, if you're lucky, an educated one." so tonight's william goldman lesson is nobody knows anything, not one person in the entire political field knows for a certainty what's going to happen. and every time we predict something it's a guess. and if you're lucky an educated one. no amount of political education has prepared us for the moment we are in now. too much of this is new. a front-runner for the democratic presidential nomination

goldman and his wife were fine when they left the diamond princess cruise ship. then goldman tested positive for coronavirus, becoming the first patient in a bio containment unit at the university of nebraska medical center. >> i feel like i'm a fish inside of a bowl. >> reporter: a health issue landed him in the largest of the country, with room for ten patients. the air filtering out hazardous infections. it was last used to treat ebola patients in 2014. >> and then double glass everywhere. >> reporter: in japan goldman's fellow passengers are finally leaving the diamond princess, amid new questions about a quarantine that failed to stop the virus from spreading, instead infecting nearly 700 people. >> there was no way to tell where the virus is. no green zone, no red zone. everywhere could have virus and everybody was not careful about it. >> reporter: insisting while they didn't have 100% separation, they believe the quarantine happened effectively. unable to return home until they are symptom free for another two weeks. omaha, nebraska. >>> we have much more

goldman sachs lead analyst for software and other companies coming from the goldman sachs international technology conference from san francisco. thank you for joining us from your conference. we appreciate that 2 billion users on what's app. that sounds great. except when i use what's app i don't pay for it does it matter to facebook. >> what's app certainly matters to facebook because it's part of the whole facebook collection of applications and it's part of the community and keeps -- keeps you integrated across the different applications that they offer, whether messenger, whether that's the facebook flu app or instagram. i think it does matter and it shows the utility of the platform that they built >> hey, heather switching gears to microsoft you've been an unabashed bull on the name a long time the stock up 17% after a bang up year last year the multiple getting to 15-year highs. what do you tell investors here, just hang on, right? and what is the bull case near-term from here? >> so it's not just a near-term bull case. i think it's a multi-year and a long-term bull case. becaus

plus doubling down where does it leave goldman? we'll explain that piping hot stock walk out on oracle and political ads all over mulu. we begin with bob pisani

investors were particularly spooked by a warning from investment giant goldman sachs that the coronavirus could wipe out all growth in us corporate profits this year. from wall street, here's michelle fleury. investors like the rest of the world will try to figure out how far this might spread and what it might mean. you see businesses continue to close, travel being disrupted and people staying at home. all of that not only has a human toll, it has an economic cost and thatis it has an economic cost and that is we are seeing pay—out in financial markets right now with the dowjones industrial average, the s&p 500 and nasdaq falling into correction surgery, falling into correction surgery, that is around io%. there have been lots of comparisons to the sars outbreak. back then, the us economy and china was far less integrated when it comes to supply chains than it is today. you see companies like apple saying there foxconn plant in china has been affected, that will affect the supply of iphones as that factory was closed and workers are now returning. but big consumer brands like starbuck

it wa nted investment bank goldman sachs. it wanted now thinks the coronavirus will wipe out any growth in american company profits this year. also, the international monetary fund said the coronavirus will clearly have an impact on global economic growth. even former chair of the federal reserve, america's central bank, said it was conceivable that this outbreak could throw the us economy into a recession. and companies continue to respond. facebook is cancelling its developers' conference. it is facebook‘s biggest annual event, and they are doing so because of concerns over the coronavirus. united airlines is now letting customers change their flights to italy because of the outbreak in that country. and, despite attempts by the trump administration to calm americans by appointing vice president mike pence to lead america's response to the virus, wall street remains unconvinced. samira hussain in new york for us. for more on this, i am joint in our studio by our asia business correspondent karishma vaswani. asian markets

i'm sure -- goldman sachs docs s nowhere. [laughter] >> what a wino, i'm just a reporter, i tried to break news everyday. liz: i did a story how obama was paid 250 grand. >> here's the thing we should point out, when you read public office and being the prince was public office, one way to cash in the books and speaks unto interne. speaking of gold the navy. liz: thank you. >> maybe there's a bigger story out there. liz: we are running close to the top of the dow this hour as the latest future speaker that we have been talking about is my gosh. this is the controversial won that helped a lot of marathon winners, right? susan: this is the 2.00. the second generation of self-lacing shoe. it costs $400. it is a pretty penny. it will be available this weekend in dick's sporting goods but only in los angeles and only in chicago and they have to buy it online. they're trying to get it ready in time before the nba all-star weekend. nike is up 20% this year. it has a bit of a lag, when it reports earnings next monitoreds the end of e

goldman and his wife were fine when they left the diamond princess cruise ship. then goldman tested positive for coronavirus, becoming the first patient in a bio containment unit at the university of nebraska medical center. >> i feel like i'm a fish inside of a bowl. >> reporter: a health issue landed him in the largest of the country, with room for ten patients. the air filtering out hazardous infections. it was last ud to treat ebola patients in 2014. >> and then double glass everywhere. >> reporter: in japan goldman's fellow passengers are finally leaving the diamond princess, amid new questions about a quarantine that failed to stop the virus from spreading, instead infecting nearly 700 people. >> there was no way to tell where the virus is. no green zone, no red zone. everywhere could have virus and everybody was not careful about it. >> reporter: insisting while they didn't have 100% separation, they believe the quarantine happened effectively. unable to return home until they are symptom free for another two weeks. omaha, nebraska. >>> we have much more o

we want to be goldman sachs. we are driving banking services. >> we talked about revenue growth, but also cost-cutting. there are ambitious cost-cutting targets. how much includes job cuts? >> we have a cost target of $1.3 billion over the next three years. a significant portion of that allows us to reinvest in growth areas we are looking at. we have not specified how much is in the form of people specifically, but obviously people are affected by that. but we are also hiring people at the same time. there is a shift in the organization. we spent time thinking about how to get people into different strategic locations that are more efficient, new york and london and hong kong. we are making investments in our frontline businesses. people are moving out, people are moving in, but we think we can run the organization or efficiently. that is why we set the cost target. kailey: coming up, more compelling conversations. the fed vice chair details the fomc's latest policy meeting. the palestinians are not on board with

also anticipated, the next hour, jeffrey currie joins us from goldman sachs, the goldman sachs view as they adjust to the china slowdown. stay with us. from london, from new york. this is bloomberg. ♪ andhis low interest rate low inflation environment has significantly reduced the scope for the ecb and other central banks worldwide to ease monetary policy in the face of an economic downturn. tom: madame lagarde there on reduced scope it a terrific news flow this morning. we are touching on many stories with futures up 8 right now, down from where they were an hour ago. with us from london is david folkerts-landau of deutsche bank, not only reading -- leading the research team at deutsche bank with important research over the decade on flows of capital. david, you have been clear and straightforward on negative interest rates. we just heard christine lagarde speak of the lower bound that we are at. give us an update on where -- on what negative interest rates are doing to continental europe. david: first, lagarde has been dealt a bad hand, in a sense, as she is stuck with the situatio

but goldman sachs is saying look at the national polls. head to head they're competitive, this could go either way. now, if you add the political uncertainty on top of the health crisis. >> i think goldman sachs said this but i was talking to joe lockhart, the rule of thumb is the economy in the second quarter is what people take into the ballot box. >> they're saying that is a key predictor in presidential races. >> what a week. >>> all right, will he or won't he stay with the patriots? why the tom brady rumor mill is swirling this morning. andy scholes has the bleacher report next. 5g will change business in america. t-mobile has the first and only, nationwide 5g network. and with it, you can shape the future. we've invested 30 billion dollars and built our new 5g network for businesses like yours. while some 5g signals only go a few blocks, t-mobile 5g goes for miles. no other 5g signal goes farther or is more reliable in business. tomorrow is in your hands. partner with t-mobile for business today. tomorrow is in your hands. i am total