russia today, greece and so much news rolling in. the european bank agrees to give greece more money but will it prevent a run on the bank? vladimir putin says all is well and he says the reason russia did not follow part after tumbling oil prices and sanctions. we have more of our exclusive interview. scarlett: from fort knox to the alamo, we have our own run on banks in the u.s. where texas is declaring it wants its goldbach. good morning. matt: let's get straight to the market check. we were watching russia and

greece, markets opened and they had been trading down. the s&p 500 is now off about 4 oints with the dow down a little as well. not a lot of movement but stocks are moving lower. scarlett: it's in contrast to the rally we see in european stocks after the ecb raised the funding available to greek banks ar. there is the emergency summit scheduled for monday that is encouraging some people. the euro is weaker versus all 15 major currencies. in treasuries, we see some buying for the first time in three days. a higher price means lower yield. let's take a look at what's making news this morning.

the greek prime minister says a deal to avert a default can be reached as eu leaders prepare to hold an emergency summit in brussels on monday. the european central bank agreed to give greece more money to prevent the banking crisis. hans nichols is covering the story from luxembourg. afternoon, mr. tsip any steps butke restated his position that the european union needs to have solidarity and social justice. the finance ministers are leaving luxembourg and heading to the airport. the important thing is all of them are making contingency plans for what happens if greece misses that payment to the imf on june 30 and what sort of default happens after that if there is a technical default and what sort of plans are being made after. there is a lot of focus on contingency planning but not a whole lot of optimism.

one leaders said he would be surprised if greek could come up with new proposals on june 22 on monday that would somehow advance this. the eud from commissioner for the economy and is talking about contingency planning. from the lifeline ecb but it's difficult to see what the path forward is for greece unless they submit new concrete proposals. scarlett: thank you so much. russian president vladimir putin says his country is weathering the economic crisis better than some expected especially with the challenges from slumping oil prices. he appeared at the saint petersburg international economic warm earlier today. >> at the end of last year, many people predicted deep crisis in russia and this has not happened. we have managed to stabilize the

linetion to draw the and wethe fluctuations are successful in going through the difficulties because the russian economy has accumulated the strength quite well. matt: he also said his government has maintained control over inflation and has a sustainable budget while the economy has shown resilience with unemployment at a low of 5.8%. the suspect in south carolina in the church massacre has a bond hearing this afternoon. --an roof is asked suspected is suspected of killing nine people's roommate says he wanted to start a race war and had been planning an attack for six months. one survivor spoke to soviet johnson and she shared this story with abc news. >> it was just horrible. just lot all over the place. -- it was just blood all over the place. she played dead in order to

survive them in order to get him not to shoot her. matt: federal at tories are investigating the shootings as a hate crime. the south carolina governor called for roof to get the death penalty. those who escaped from a new york prison are among america's most wanted. police are continuing their search in the u.s. marshals service at of the two escapees to the most wanted list and have an missing since june 6. a prison employee has been accused of helping them. those are your top stories. there are many big headlines today. scarlett: coming up in the next hour, the lone star state wants its gold bars back. the texas governor wants to hold his own fort knox for their 5600 gold bars. we will have the details. russian president vladimir putin is addressing the st. petersburg economical form and says russia

does not have the deep economic crisis many thought it would because of his leadership. food company conagra's being targeted by janet parker and details on that and other stories coming up. greece is inching ever closer to a default and possibly an exit from the european union. an emergency summit of european leaders will now be held on monday. the european central bank held its own emergency session today and announced more aid for great banks after more than 3 billion euros were withdrawn this week. scarlett: joining us now to discuss the latest developments is joe weisenthal and alexander kostopolis. we were talking earlier with hans nichols about how companies and businesses and people in greece are making contingency plans. what is your contingency plan question mark what backup plans are you making? moment, ours

biggest plans have been exhausted. we have had contingency plans over the last four months. theink it's time for leadership regardless of what party they represent to consider and come up with any solution, any settlement. it will allow the business community and the private sector to continuously move our country forward. hopefully, at some point, we will also be able to deal with the structural issues we definitely need to tackle and get them behind us in order to move the country ahead. matt: what about you, personally? have you taken out enough cash to get you through next week? are you not worried about a run , i haveank?alex: no heard so many times that there

is this issue. i did not go. i'm not sure we will have such an issue at the end of the day. i am not sure that if i get 1000 euros and put them in my home for the weekend that that will save me if we end up moving outside the eurozone. i think the problems will be more difficult. it will be completely uncharted, the situation and 1000 euros more than what you usually have in your pocket will not solve our issues. scarlett: i want to bring in joe weisenthal. it sounds like he's tired of the boy who cried wolf. there seems to be a distinct lack of panic about a potential greek exit. joe: there is a lack of panic and people cite the situation now and a few years ago. the biggest differences who hold the deck.

if the ecb and imf and other governments, not as much the banks. if it were the banks and you had a default, you might have runs on those banks. the financial contagion cannot happen as easily when it's official institutions holding the so there is less fear. the greek prime minister is in st. petersburg to meet vladimir putin but is increasingly isolated from his european leaders. is he isolated from the greek's news community as well? alex: i think yes. in essence, i think the whole government is isolated by a healthy and productive part of our society. we know that you have to be credible. you have to be productive. you have to follow this and i months wewhole four

have been witnessing the choice of the recent government -- the political ideology that is represented, they just don't fit with today's world. tois our number one priority maintain our credibility and solidify our role and our relationship with our traditional partners and to find the right tactics and the will to solve the problems -- whether we like it or not, they are here for many years. it is imperative to be able to come up with any solution over the next 2-3 days to move forward. there is a strong part of our society that does not caring longer about ideologists. more and more people in

europe are mentioning a solution. joe: i remember there was a lot of talk about russia being a saver for cyprus and that had more logic because there is more russian money there and more russian investment and ultimately that did not turn out to be a thing so russia will not step in to save cyprus. that was not plausible. i'm pretty skeptical it will happen in greece. scarlett: thank you both so much. coming up, the greeks have yanked almost 2 billion euros out of great banks last two days alone. where are they putting all that money? ♪

scarlett: good morning and welcome back to the bloomberg market day. we are doing this together. we have breaking news on comcast -- the founder of the company has passed away. ralph roberts was 95 years old. brianhe is the father of roberts, the current ceo. chairman, president, and ceo. i'm sure he has more titles than that. son of thee is the founder, ralph j roberts, the founder of comcast who passed away at 95 years old. in the meantime, let's take a markets check. let's talk about some of the movers happening today. i want to talk about smith & wesson.

it's down about 3.25%. 3.25%down an additional in the premarket because west -- smith & wesson posted april your profit forecast that was lower than analysts expected. earnings will range between 1.1 dollars and 1.7 dollars. 12%s for the year dropped to about half $1 billion. the firearms unit posted a 15% decline. this is on the back of people buying guns after the sandy hook school massacre. many people are now saying they have already bought so they will not buy more. conagra, that is up a whopping 9.2%. year to date, it was up only eight percent. not only bernstein but credits we sent barclays have raised

their price target for the to $46 ranging from $42 after the news that janet parker has released an activist state in the company. scarlett: thank you. let's get to some top stories. we will start with shares of kb home's rising today. the worst-performing u.s. homebuilding stock of the year but the company did those quarterly earnings that beat analyst estimates. they said the contract backlog grew 39% which is a good measure of future sales. the average selling price rose 6%. matt: hershey's says profit this year will be less than estimated because of slow growth in china. the company plans to cut 300 jobs to reduce cost. that will result in pretext charges of as much as 120 billion -- $120 million mostly in cash.

hershey has approximately 13,000 employees globally. i hope you are writing the numbers down. scarlett: the fight over the trade agenda shifts to the senate. the house yesterday approved a measure giving the president fast-track authority to negotiate trade agreements. it came week after a democratic rebellion almost killed the proposal. the senate is expected to vote next week and will take of a worker's assistance phil. data bill. matt: greeks are pulling their cash out of banks at record levels as the country edges closer to an exit from the eurozone. the greeks have withdrawn more than 4 billion euros this month alone. scarlett: where are they putting all their money? tom mckenzie went into the home of one greek pensioner to see where her safety 5000 euros -- is hidden. >> this is where i keep a part of my money. here is also money.

here are money also. after the crisis, i took my and forin 2011 security, i keep my money at home. every day i went to the bank and i took 1000 euro. i keep it in my bedroom. only in my bedroom but in different places. i have 65,000 euros. i work for the justice department for 28 years. i used to have a good salary but about 2000 euros. in the crisis, it was cut to 1000.

many people are doing the same thing right now because we don't know what will happen. think there is truck loads of money coming to greece to pay our wages and pensions but it's not true. pay the, it was to german and french bankers. life before the crisis, i spent money on bags and shoes but life and i think is more simple maybe i am uncertain for the more close to real needs. moving things,of texas is looking to get gold back from the new york state. $650 million worth of gold back to the lone star state. we will give you the details next. ♪

matt: texas wants its gold back from new york. . it has $650 million of gold bars sitting in a vault in midtown manhattan scarlett: they want to bring it back to texas so joining us with more is lauren eder. give us the background, what is going on? texas ownsentially $650 million worth of gold and the university of texas management company started dying

gold bars a few years ago after the great recession. and inore it in new york texas, there is a great interest in bringing it back right now largely because the state is concerned -- there is a fever here now where people want to make sure that the federal government does not have their hands all over anything texas. that now involves gold. matt: i have heard reports that texas intelligence got word that federal troops were moving forces inside the state and then the governor mobilized local militia as a precaution. what the hell is going on there? lauren: this has spun out of control. word came out that there was a u.s. military exercise taking place across the u.s. called jade helm a couple of months ago. are playing to

this rising sentiment in the state that the federal government is out to get them. the governor said we will deploy error state forces or keep them on call to keep an eye on the federal government. a lot of it is politics. that is basically what is happening with the gold as well. texas is governor of playing a game of brinkmanship with the u.s. federal government? can that be real? lauren: it has gone a little bit too far. -- theernor has said state of texas is clear that they are not trying to take on the fence. it's more sending a message that youle in texas are watching and keeping our eye on you and looking out for our state. i don't think there will actually be a war that will break out between the u.s. government in texas but it's been done in the past. scarlett: this is a lot of posturing and shows a deep mistrust of the federal government.

the gold in question is not even the property of the state itself. it belongs to the university of texas which is their endowment. ut has the second-biggest endowment according to bloomberg rankings at over $25 billion. what does ut think of all this? lauren: they have not been involved but they've bought the gold a few years ago for investment reasons. said if weutimco still have gold and of its part system, if this is something that actually happens and the fees are lower than what we pay them your, why not? we will bring it back. pay: that makes sense, why to hold it in yankee territory? what will texas do with it when thereet it back?lauren:

are so many little details. the comptroller needs to work out what will happen but there is an idea that eventually this depository could work like a gold back to thank where citizens and government entities in school districts would be ,ble to make transactions goldbach transactions based on this depository. it is yet to be seen but there are some designs in the making. there is always designs in the making in texas, i suspect. thank you for joining us. matt: you love it so much down there. i spent a lot of time down there. here withand you live us in westchester. see you later. we will be back. ♪

. .

scarlet: welcome back to the "bloomberg market day," i'm scarlet fu. ralph roberts, founder of

comcast has died. in 1953, he founded comcast by buying a small cable tv system in mississippi. the company is the largest video broadband and residential phone provider. chairman and ceo. ralph roberts was 95 years old. the senate set up a showdown with the white house. approved a pentagon spending bill that would get around mandated spending cuts and would threaten the presidents plan to close one time obey. -- close guantanamo bay. democrats are about to reach a self-imposed deadline on iraq. --sident obama's natural national security advisers say they won't accept just any agreements. >> the only deal we going to get is a good deal. if we don't get a good deal, there is not going to be a good deal. if they are able to get the deal implemented and finalize, it meets the same parameters, it

will be a good deal. it will cut off all of iran's potential pathways to a bomb. scarlet: congress would have 30 days to review any deal. iran says it would accept in exchange for the u.s. lifting sanctions. 17 people were injured and officials were forced to drain the lock. it had a seawall near the canadian border. there were 274 passengers and crew members aboard. french officials have named three judges to lead a criminal probe of the germanwings plane crash. days after an independent inquiry on the charges of involuntary manslaughter linked to the crash were announced. investigators believe the copilot perfectly -- purposely crashed the flight. 150 people were killed. airbus staging a

come-from-behind victory over boeing at the paris air stove -- air show. they cited will be on dollar deal -- a $12 billion deal. billioned up with $57 in orders compared to $50 billion from boeing. those of the top headlines at this hour. much more coming up on the "bloomberg market day." when we thought china's luxury market was cooling off, mercedes-benz is selling new sears --new next shares. going after conagra foods. why the company responsible for heinz ketchup could see a host of new directors month. cyber security stocks are on the rise. investors are betting on companies that could prevent the next major hack attack.

we discussed the stories and more coming up on the "bloomberg market day." vladimir putin took the stage at the saint petersburg international forum to discuss the state of russia. he sat down with charlie rose and said the u.s. needs to bite out of russia's affairs. -- butt out. >> their decisions and their standards, without thinking about how we understand our own interests. they are trying to say that they know better what we needed. let us decide ourselves what are our interests, what our needs, based on our history. on our culture. wety: we check --scarlet: check in with charlie rose who moderated the panel with president vladimir putin as well as the panel with other members on the stage. i want to get what was your biggest take away?

he made a lot of assertions and gave himself credit for helping russia avoid a deep crisis. what was the biggest take away? think he clearly wants to talk to the united states. he says they are surviving the sanctions, that they talked about ukraine a bit. they talked about ukraine being -- ukrainian separatists who speak russian have a commonality with russians, they are all russians he said. he talked about china and what an opportunity there was for had cashcause china and russia has natural resources. there is a real opportunity for an economic connection between the two. economicsa lot about in a small speech he gave.

and with others, the greek prime ministers spoke and advice from air from china spoke. and vladimir putin spoke. he and i did a 40 minute interview, a one-on-one. and national security issues than economic issues, although some economic issues. went 2.5 hours, we started after 2:00 and went to a little after 4:30. i was on stage for the entire time as was vladimir putin. they gave me an opportunity to see him up close, see how he responds. i didn't look into his eyes, as george bush one said. i was able to watch his body movements in terms of what seemed to intrigue him. for example, i pointed out that he was being very aggressive, russia was.

i said i know you don't like to hear that. in his answer, he knowledged that i don't like that. he said we are doing what we have to do. i pointed out a number of things they were doing, including things that the united states objects to greatly on the border in the eastern part of ukraine. scarlet: i like how you look to his body like much. you might not have stared into his eyes, but i wonder on which parts, which topics, which points were vladimir putin most unscripted on? where did you see the emotion? they got more emotional at the end. ,he most emotional thing was because they fell -- they had foulups. she was sitting in the front row to give signals about me keeping

up with where we were in the program. at the end, vladimir putin said there are a lot of people who are working hard, including a colleague who is giving you the time signals. he asked her to stand up, and she did. -- was sitting next to his one of his principal advisers. the doorcare of leading to vladimir putin. isis, very animated about and how important it was to change the trajectory of isis. we talked about that. he doesn't miss an opportunity ever to point out if he thinks the united states is responsible. he pointed out that the rise of isis came as a consequence of what happened in iraq.

he didn't like me talking about him being aggressive. but someone said to me afterwards, a minister from rashard -- russia came up to see me and said what was interesting for us, that he thought he was more relaxed than he had seen him. we know what he thinks, but we don't think many other people know what he thinks. here was a chance for him to lay it out. a lot of people in russia come outside of russia, are worried about ukraine. they are worried about it because there was point, counterpoint. there will be an announcement pending troops in the baltic states and reinforcing their armaments. at the same time, there will be a counter point where russia will talk about what he will do, new icbms and things like that.

it's very important to understand people, i think. , even if do have power they don't answer the direct question or they engage in their own spin. it is important to watch them and see them. i think putin believes that. --ee things i have noticed one, he is very sensitive about borders. it has madeea that them more alarmed that it is the expansion of nato. that is the one thing i think that had to do with what happened. -- what happened in georgia, and how he reacts to nato. he is worried about nato expansion. it expanded into the balkan states. with all kinds of geopolitical questions in terms of if he pushed into one of those baltic states, what would be the u.s. response? what would be nato's response?

they are authorized to defend any nato country. they worry about any missed regulations that might take place. everyone is worried about that. i talked to a range of important american officials and diplomats , and journalists as well. they said the thing i am most want to know -- i step-by-step how he wants to reduce the tension, because he is part of that. the same thing is true in syria. he has a relationship, he is a principal benefactor of syria. he basically knows he has a problem. he worries most about isis taking over syria. more so than he does about the survival of the sod. assad. thank you for giving us the take away with your conversation with president vladimir putin this morning in saint petersburg. let's bring in russian analyst

an expert, director of the eurasia group in new york. what was your take away? did we see an aggressive or relaxed food and -- vladimir putin? guest: we've seen a vladimir putin that has a good idea of what's going on with ukraine. we saw a vladimir putin who was very keen to put a pretty good face on what is going on economically and russia. scarlet: you could argue that russia is in less economic pain that it was a few months ago. the ruble has stabilized after plunging 40% last fall. they rolled back interstate increases as well. what does that mean for his agenda in ukraine? alex: the russian economy has proved more resilient than people thought. russia politically has been more

resilient than people designing sanctions thought. it's one thing to be resilient in the face of a crisis. it is another to provide a solid foundation for growth. that is really the challenge. a lot of people wanted to hear something on that front. it is well to recall that even before the ukraine crisis, the russian economy was stagnating, largely because of under investing. where jew political risk is higher than it was a year ago and political risk within russia hard touncertain, it's see where you a massive infusion investments. time,t: at the same russia is running into the arms of china looking to fortify its relationship there. who has the upper hand in that relationship? them sitting on the stage together. who calls the shots? marriage,ays it's a more than 50% of marriages end in divorce. i think china has more of the upper hand, in the sense that the chinese are very shrewd in taking advantage of the fact

that russia is not lost but is at odds with what has historically been a major source of investment and trade. certainly there is a strong role for china to play in russia's economy, it makes sense. as far as whether china can make up for the quantity and quality of investments that are being lost because of sanctions, i don't know. scarlet: thank you alex kliment. , we have much more coming up on the bloomberg market day. luxury sales peaking in china, is proving everyone wrong. details coming next. ♪

scarlet: welcome back.

we are one hour into the u.s. trading day. let's get you caught up on all the action around the world. we check in with europe. host: it's been a turbulent week with all of the concerns about greece. if you look at today, you can see they are ending the week on a high. off, butn germany green across the board otherwise. the stocks we you have been watching in particular today to drill down into those. lefting of course on the with the athens stock exchange. three have been three of the best-performing indexes in the world today. 1%, the this was up by portugal index there. aboutare fewer fears contagion as well. benchmark --ty greek stocks making a very tiny percentage of this.

this is gaining. two things that happen to drive this risk appetite today. the meeting in luxembourg was a total failure, we have to meeting scheduled for monday. eurozone finance ministers and eurozone leaders as well. these emergency summits to try and reach a deal on greece. the ecb has actually raised the maximum amount of funding that greek banks can access. emergency funding is a key move that is hopefully going to see them through not just today, but monday as well. there hopes for a deal. finally, i want a shimmy bond deals. look at greece in particular. borrowing costs coming down significant way. they are down almost 47 basis points. by, greecehat goes is getting closer to a possible default and exit from the eurozone. you wouldn't know it from these markets. stocks are pretty

much unchanged. marginally in the red, looking at the nasdaq which is the biggest loser. utilities and information technology there are the biggest weight on that. looking ahead to treasuries, the rallyings actually after a two-day slide. it's having its biggest gain in more than a week. the 10 year yield is falling to its lowest level in nearly three weeks. 2.31% in%, down from 8:00 a.m. highest level in about a month, rallying for a second day. goal is having the best today gain a since may 14. its lowestalling to level since february, touching a four-month low. that's heading for the biggest weekly drop since january on china was. in crude oil, we are seeing the biggest drop right there in

about two weeks, following to the lowest price since june 8. a stronger dollar is weighing on prices there. right now it is trading at about $59 a barrel. scarlet, back to you. scarlet: crude oil stuck at that level. meantime, in asia, we saw stocks outside china rising for a second day following gains in the u.s.. equities and shanghai tumbled. it was one of the biggest stories, chinese stocks having the worst week in seven years. start fear it may be the of a painful correction that so many analysts have been participating. david ingles reports from hong kong. david: it's been an eventful week in china. all was well and good this time last week. levels, onlytual they are what we actually see volatility. it's been pushing to extreme levels. you have a long-term average valuations at about 10 times expected earnings pushing

towards 19. that's within a span of 10 months. there is concern over what regulars will do next to manage all of the risk of outstanding margin debt, at $240 billion u.s. startay actually be the of a bigger winding down. i hope not, but we will see. scarlet: david ingles in hong kong. top stories crossing the terminal this morning -- we start with a rare moment of glory with oakland shining in the national spotlight today is the golden state warriors parade through the city with their nba championship trophy. the warriors returned to the san francisco bay area after defeating the cleveland cavaliers in six games on tuesday. it was the first basketball championship in 40 years for the team. the victory parade starts in downtown oakland, followed by a rally at the end of the route. it could be your piece of deflategate. a touchdown ball from the afc championship game is now up for auction. that was the game where the nfl says tom brady of new england

patriots was throwing underinflated bolles. don't bother getting out the pressure gauge, the ball is now properly inflated. "jurassic world," had the biggest movie opening of all time. now they may be going for second. box office.com predicts it will taken $1.5 million -- $105 million this weekend. that would beat out marvels "the avengers." those of the top stories at this hour. luxury sales are hitting a speed bump in china. yet despite all of that, or city or city's made up -- bends -- mercedes-benz maybach are doing well. pimm fox has been tracking all of this. does this prove the luxury market is not slowing down for everyone? for the right product, people

will come out and protect inconspicuous consumption. pimm: if you're looking for extra legroom, the new maybach is doing very well, selling 500 month. the to sell 600 year. -- aall part of a saturn strategy to rebrand maybach as a mercedes product. it has more to do with the change in the nature of the competition at the high-end of your mobile market. audi is feeling the pinch, mercedes is feeling it. you are also seeing it with companies like porsche, selling lower priced cars. scarlet: it's just how they package it and frame it. pim and how they take your money. m: scarlet: trouble at conagra foods. they are now threatening the company's board.

that's coming up next. ♪

scarlet: welcome back. targetedoods is being by activist investor jana partners. is threatening to nominate three directors to the board following disappointing results from the company's purchase of ralcorp. craig g mona is here to discuss. this is not limited to jana and conagra. we have seen a lot of shakeup in the ministries. stands that 3g over cost-cutting has come to town in a big way over heinz. they are taking over craft. -- kraft. the was consumer is moving away from the center of the aisle, and a lot of these companies are

struggling. scarlet: this is an example of how m&a hurt rather than helped. paper this made sense. it was a company with solid brands, or run blocker and swiss miss saying -- orbital redenbacher. it'srprised some people, been a problem. the deal has not worked well for them. scarlet: craig, thanks for joining us. craig covers food companies for us at bloomberg news. more coming up in the next hour of "bloomberg market day." the latest on greece. we'll be back. ♪

scarlet: welcome back to the "bloomberg market day," i'm scarlet fu. >> welcome to the "bloomberg

market day." the european central bank raising the cap on emergency funding, trying to prevent the run on greek banks. but will it be enough? scarlet: easy money if you are in the drone business. so much money the venture capitalists are being told no thanks when they try to invest in the latest unmanned flying vehicles. raising --rising reason that the chinese are giving her she a raspberry. a raspberry. ♪ scarlet: good morning, i'm scarlet fu on this friday morning. : and i'm pimm fox. let's look at how the markets are trading right now. lowered today after yesterday's move tire. down by 26 ps