Welcome to closing bell. I'm Scott Wopner live from Post 9 right here at the New York Stock Exchange.

This make-a-break hour begins with a big bang from the banks better than expected earnings,

sending several names higher today, and now one of the most influential analysts on the street has

upped his estimates on one name in particular in the wake of those results

Mike Mayo is here first with those details use your scorecard 60 minutes to go in regulation. The Dow lower

today thanks to a big drag from Boeing and United Healthcare stocks weaker

across the board as you see interest rates are higher today.

There are more worries about the economy, retail sales coming in a weaker than expected as well.

It leads us to our talk of the tape.

Better than fear, that seems to be the takeaway from those

bank earnings today. J.P. Morgan seeing its biggest post earnings pop in some

20 years. Let's bring in the star analyst now, Mike Mayo, Wells Fargo

securities.

More details on the move he made.

You have said, nice to see you.

Goliath is winning and oh boy did we get evidence of that today, did we not?

Goliath is really, really winning and you see that with the largest US bank

JP Morgan be expectations by almost one fourth the big news here is that they guided higher seven billion dollars of revenues with zero extra expenses

They guided higher last year they had fifty billion billion of pre-tax earnings, another 7 billion. You're talking

like 12 or 13 percent higher earnings just like that. And so we increased our estimate this year by 12% well you raised your

price target on the stock as well absolutely what number and we now so we

have like over 25% 30% upside from here even with the stock moving higher so we'd still be

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