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FBN’s Melissa Francis on J.P. Morgan’s transition from bank branches to more online and mobile banking.
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Does the CEO of one of the nation's biggest banks think about day and night.
When he wakes up in the middle of -- -- what's -- thinking about what JPMorgan Chase.
Holds more than 2.3.
Trillion dollars in assets that's 16 of the total US banking sector.
At its CEO Jamie Dimon is known as one of Wall Street's most numbers upset CEOs but what numbers we want to know.
Yes who knows -- Melissa Francis she is traveling -- Jamie Dimon at Austin, Texas.
She's gonna have a big exclusive interview coming up at 5 PM eastern but what does -- think about -- dying to know.
You know you're right he is obsessed with numbers but today he is on the road on a bus tour out meeting the troops he's put -- cowboy boots he's got a cowboy -- time.
-- out rallying every one.
Which is what tougher job than usual all you know earlier that we -- investor conference he talked about how they're -- to be cutting back staff 191000.
People 4000.
For branches like this when this is even as they add another hundred branches every year they're still cutting back on staffs -- interesting to see where they're going.
You know with mobile banking with more online banking and how their business model is changing -- -- be talking a lot about that in the business.
We're also getting a look at some proprietary -- and information that they -- inside the bank to decide how they're gonna run their business -- what really caught my attention.
-- some spending trends and it shows you you know JPMorgan Chase touches half of all US households in one way or another.
And what they are seeing is that in travel and entertainment we have a full screen of this if you -- but it out.
Based on 11%.
Increase in spending for the most recent week that they collect the data misses vs a year ago that's huge -- Lodging 11% auto rental seventeen point 2%.
Airlines 10% increase.
They say was this a one time blip was a presidency we know we've been seeing this trend increasing.
You look across the weeks since the beginning of the year were a lot of these numbers were single digit growth or even negative.
At the end of last year.
I'm sporting goods up 26%.
Other retail 11% we -- di Cristo in discount stores -- it was a contraction so Liz I think that really -- you.
That people as they are looking at their credit card spending -- JPMorgan Chase.
Are -- a lot better about what's going on out there now as was mentioned coming up at 5 PM we are gonna have the man himself an exclusive interview Jamie Dimon.
On money that's coming back then you know she told us in Davos Melissa that the housing market was totally back.
It looks very strong -- -- -- today -- be interested to hear he still feels that way there was one little stumble a couple of days ago on another piece of housing related data but that's got to be very inspiring for him they have so many mortgages on their books.
Oh absolutely no as a great interviewer lets you really haven't laughing matter so I can I do the same volunteers but that no problem I'm gonna be watching I -- everybody watches 5 PM eastern Melissa Francis subject to more.
