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Wells Fargo's Mike Mayo: Citi My Top Pick of Big Banks

Investors are preparing for a significant earnings week as five of the six largest US banks, including JPMorgan, Citi, Wells Fargo, Bank of America, and Goldman Sachs, are scheduled to report their quarterly results within a few hours of each other. Mike Mayo, Head of US Large-Cap Bank Research at Wells Fargo, joined the program to share his outlook. He expects overall bank earnings to increase by 15 to 20 percent year-over-year, driven by a combination of strong Wall Street trading revenues and robust commercial loan growth on Main Street. He speaks with Romaine Bostick & Katie Greifeld on "The Close."

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Bloomberg

New Mountain Capital CEO: AI SaaSpocalypse Is Overstated

Steve Klinsky, Founder and CEO of New Mountain Capital, discussed the current state of private markets. He noted that recent redemption requests were primarily from retail investors in credit funds, which did not significantly impact institutional investor appetite. Klinsky highlighted that smarter institutional investors are increasingly moving into credit to capitalize on lower prices. He speaks with Romaine Bostick & Katie Greifeld on "The Close."

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Bloomberg

Paramount-Warner Bros. Deal Challenged by California, States

A group of 12 states sued Paramount Skydance Corp. Monday seeking to block its $110 billion bid to buy Warner Bros. Discovery Inc., alleging the blockbuster Hollywood deal would leave viewers with higher prices and fewer choices for movies and television.  Jennifer Rie, Bloomberg Intelligence Senior Litigation Analyst for Antitrust joins Bloomberg Businessweek Daily to discuss.

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Bloomberg

There'll Likely Be a Government Shutdown In September Says Short

Marc Short, Chairman of Advancing American Freedom and Former Chief of Staff to Vice President Mike Pence joined Balance of Power to discuss the recent passing of Senator Lindsey Graham. He also discussed how Congress needs to pass appropriations bills or a stopgap by the end of September, otherwise the government will shut down the month before the midterm elections.

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Bloomberg

Graham's Death Deprives Ukraine of Key Trump Whisperer

The death of Senator Lindsey Graham leaves key US allies like Ukraine, which have at times struggled to influence the Trump administration, without one of their most effective conduits to the White House. Rebeccah Heinrichs, senior fellow at Hudson Institute, joined Balance of Power and said there's momentum for Congress to pass a Russia sanctions bill that had been championed by Senator Lindsay Graham

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