anshu jain, co-ceo of deutsche bank. tomorrow we'll get more on the state of the global banking industry when i talk exclusively with ubs ceo, sergio emotti. >> looks like the tuesday streak may be over, the tuesday streak of up dow weeks. we're down 103 points right now, off the lows, but that would be quite a comeback if we were to pull that off in the next 30 minutes here, wouldn't it? >> yeah, it really would be. the market having a rough day today. meredith whitney says she's never been more ul bullish on equities. she's coming up in the program. >> also, a new deal between the nf and verizon is going to allow verizon wireless customers to watch even more football games on their phones. up next, we'll look at whether this will be a touchdown for verizon stock, coming up. [ male announcer ] my client gloria has a lot going on in her life. wife, mother, marathoner. but one day it's just gonna be james and her. so as their financial advisor, i'm helping them look at their complete financial picture -- even the money the

drugs and sharply better than expected and according to deutsche bank and i love that it came out today. >> and what about goldman unilever? >> well, i like it. >> and what about kb homes? >> well, the mortgage rates, i like it. >> and anything tonight? >> well, in the gloom of the daily, go listen to the people tonight, and they will tell you why ron baron could be right that the market could go up big

coming to you today from the pierre hotel at the deutsche bank global financial services conference. ersight council as designated three non-bank firms as, quote, too big to fail, and subject to additional oversight. josh lipton following how these three stocks traded today. josh? >> hey, maria. that group of regulators known as the financial stability oversight council now proposing to designate certain non-bank financial companies as systemic important, meaning their failure could de-stabilize financial markets. those companies, ge capital, prudential financial, and aig. ge basically finishing the session flat, as you can see. prudential and aig, both lower in today's session. maria, back to you. >> josh, thank you so much. so what's being deemed too big to fail by the u.s. government going to mean for aig? joining me now exclusively, aig's ceo, robert benmosche. good to have you on the program. >> thanks for having me. >> aig being identified as a potential risk to the financial system or systemly important to the financial system, really, more important. i don't think you were sur

it was one of the best prchling stocks today, rallying 11% after an upgrade in deutsche bank.t got us thinking about one stock that could be poised for love. dan, tell us why. >> when i saw the deutsche bank upgrade, i thought to myself, these guys ipo'd at the same time, ridiculous valuations, and horrible falls from grace. zynga has been left for dead. here's a company where, the fundamentals, the jury is out on this one. but every once in a while, in a speculative portion of your portfolio to get in front of a change in sentiment. so to me, i think this lines up really well. this company has about 73% of their market cap in cash. they have a small amount of debt. the thing that's left, wall street hates the stock. there's three buys, 18 holds and three sells on it. groupon had a similar set-up back in the day. here's another one. short interest have been working well. this stock used to have high short interest. now it's only 4%, left for dead. when you look at the stock at $2.80, it's an option in and of itself on the long-term fundamentals of this company. but with 250 in

the comments come as deutsche bank's co-ceo's told cnbc the bank is preparing for the end of qe-3. >> we are going to higher u.s. growth than many of our peers, and as a consequence, we're also calling for an end to the bond-buying program that's happening maybe as soon as the end of 2013, latest fiscal 2014. >>> beijing strikes back to the eu over solar import tax, announcing an antidumping program into european wine. german solar stocks wide as brussels' trade commissioner tells cnbc he's aiming to create a level playing field. >> the equation that we have been making is that if we do not intervene, then the solar industry will disappear in europe. >> and samsung scores a victory in its long-running fight with apple as a key u.s. agency slaps a ban on the import and sale of older iphones and ipads. >>> all right, a warm welcome to today's program. we kick off with the latest pmis out of the eu and the eurozone, indeed. let's bring you that. the service pmi, 47.2, a slight tickdown from the flash of 47.5, but the composite number has remained the same, 47.7. that was the flash bigger

much a living wage and those are important industries but when we see the finance industry and deutsche bank particularly laying off thirty five hundred you know employees at a time where are they going to go i mean they have to this has to do with the whole reemployment thing and the student loan bubble that we're seeing when the government guarantees student loans to universities have the ability to price increase the price of tuition and that's exactly what we've seen so we have a lot of people coming out of college and maybe not all of them should college just throwing that out there well i actually do agree with you on that i think you know not everybody is meant for academia they're just not i mean i can i mean there's plenty of other industries that people can be involved in i mean we need we need farmers need people to drive tractors we need. there's plenty of other job that i think are going to shock the world always needs to it's terrible. all right well bob and i have decided to hire our own list of the five words college majors to become a central planner regulator of the financi

deutsche bank, they're brinking 300 jobs to florida. think they're going to jacksonville. >> right. >> did you offer them something special in i'll build you an exit off the freeway. no property taxes for a time? tide you do anything like that at all to get them in? >> no. what we do is we make sure we have an educated work force. can't have lower income tax than zero. our business taxes are going down every year. that's happening. got rid of the sales tax on machinery and equipment for manufacturers, so every year we're trying to make our state a state that no one can compete with because we like jobs. we like businesses. i'm going to make sure we're the number one state for your family to get a job, get a great education and afford to live. >> i have to ask you about national issue, which is the irs. there's an attempt, it looks like, to make the scandal go away, sweep it under the rug. say, there's nothing going on here, move along, please. are you happy with that? >> well, look, we cannot have any government agency that targets anyb

three huge interviews, deutsche bank's aanjou jane, how that willsh meredith whitney says she's nevert now. >>> and aig's ceo reacts exclusively to the proposal by regulators to designate the insurance giant as too bill to fail. all that, plus is the street over? we'll find out. i hope you can join us at the top of the hour for the last hour of the trading day on "closing bell." mean time, nor "street signs" coming your way. [ shapiro ] at legalzoom, you can take care of virtually all your important legal matters in just minutes. protect your family... and launch your dreams. at legalzoom.com we put the law on your side. [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with papermoney to test-drive the market. ♪ all on thinkorswim. from td ameritrade. i've always had to keep my eye on her... but, i didn't always watch out for myself. with so much noise about health care... i tuned it all out. with unitedhealthcare, i get

david of deutsch bank, 1625, roughly where we are now. jim mcdonald, northern trust, 1550 to 1800, and we'll find out why, and gary fay, 1650 to 1700. >> it's the second biggest down day in a row after yesterday's fed announcement. we'll put it all in perspective for you and talk about the next six months. we did outline your target for the s&p. given the volatility we see in the market not only today but recently, what's going to get us to that target? >> we think there are three things that will help equities move further ahead as we moo through this year. the first thing is earnings revisions. we've seen earnings revisions in the s&p move to the positive side. that's a big change for us. the second is investor positioning. investors have been very skeptical of the rise we've seen. it's only given rise to that skepticism, and the third thing is we think the data will be a little bit better as we move to the second half of this year. >> jim, let me ask you to help get my head around what i'm waupg he watching here the last couple days. y

. >> we accused deutsche bank of continuing to push commodity speculation, and we criticize its involvement in land grabbing, which is forcing people all over the world off their land. >> the protests are a prelude to a mass demonstration planned for saturday. organizers are expecting around 20,000 people to take part. >> and on to friday's market action, european shares ended the month on a negative note. our correspondent said as the summary of the trading day at the frankfurt stock exchange. >> t-shirts, black t-shirts, jeans, running shoes, hoodies, even. it is not exactly the kind of a tire you would assume a banker or trader here on the frankfurt floor would be wearing, but that is exactly what people want to work this day. it was not a usual workday. riots of the stock market, everything remained quiet, but people had to get to work, so it was a suggestion by many employers that people who work here not necessarily appear as bankers right off the bat, so as to avoid a possible conflict. it did not do any harm. the dax did lose, but for the week, the dax had a gain of about 0.5%. the

with us is aaron gibbs and joe lavornia from deutsche bank.ng out about the taper talk last week, having a taper tantrum, if you will. you're not worried? >> the rates are starting such a low level, it's natural for the yields to back up, not even normal levels. these are still low levels. and my guess is we have further room to run. >> erin, in terms of the fundamental backdrop, the earnings going into the next quarter, what's your expectation? >> we're still looking for about 6%, 7% growth. we're still looking for new record highs, but we expect the same type of thing, missing on the top line, meeting the bottom line. >> 6% in growth? >> 6% in earnings for the year. we're still -- it's been hovering around -- it's been between 6% for the whole year for 2013 for eps growth, and it's the same story over and over, missing on the top line but beating the estimates. >> will fundamentals mean more than they have than in the last few earning cycles here? >> no, i think right now what we're talking about is interest rates. that's really what's movin

will want to see thinking contrasted with the more optimistic view of another ceo i spoke with, deutsche bank. >> we are calling for higher u.s. growth than many of our peers. and as consequence we're also calling for an end to the bond buying program happening maybe as soon as the end of 2013, latest first quarter 2014. >> yet jayne cautioned increased regulation has been a game changer for the financial services industry. >> there is no doubt that virtually every aspect of our business model, our capital models, business practices are being scrutinized and are the subject of regulation. i'm more concerned about the potential of regulation than the quantum of regulation. let's be fair. 2008 was a very, very difficult time for the entire world, not just for financial services. and the need for regulatory reform cannot be debated. so for me really basel goes a long way to addressing capital liquidity, so on and so forth. i would really say a unified approach would be the one which would best serve all parties. >> a unified approach, but you can't really have a global standard, can you? you can

therefore it will affect so yes i mean if you don't have to look as if there is but ignore them one deutsche bank is moving nine billion dollars worth of gold to singapore the nations they already have a reputation for respect of private property secrecy in banks for instance don't have to report encounters names to authorities and seek a form becoming the new switzerland. singapore has already attracted staggering amounts of money from from europe are there because the swiss that had such a monopoly you know that god corroded their god god god they spent say that god not very confident the results for the many many many reasons that money is leaving switzerland the focus looking for and europe people with looking for a competitor at singapore is turning out to be a great competitor whether it's a new it's a new school it's a lot or no i would suspect it will be but but what you're going to spend twenty years what i moved to say for us i moved to singapore not for that reason has nothing to do with live here but that is something that i noticed there with singapore is it possible about singapore

effect though but yes i mean you don't have to look at it seriously if there is but ignore the one deutsche bank is moving nine billion dollars worth of gold to singapore the nations they already have a reputation for respect of private property secrecy in banks for instance don't have to report encounters names to authorities and seek a form becoming the new switzerland. singapore has already attracted staggering amounts of money from. europe are there because the swiss that had such a monopoly you know that god corroded their god god god they spent say that god not very confident the results for that many many many reasons that money is leaving switzerland the focus looking for and europe people we're looking for a competitor at singapore is turning out to be a great competitor whether it's a new it's a new school it's a lot or no i would suspect it will be. but what you're going to ask in twenty years when i move to sign up for us i moved to singapore not for that reason has nothing to do with live here but that is something that i noticed there with singapore is it possible that singapore wi

will affect oh but yes i mean if you don't have to get it first if there is but ignore them one deutsche bank is moving nine billion dollars worth of gold to singapore the nations they already have a reputation for respect of private property secrecy in banks for instance don't have to report encounters names to authorities and seek a form becoming the new switzerland. singapore has already attracted staggering amounts of money from from europe are there because the swiss that had such a monopoly you know that god corroded their god not the patient that got the expensive that god not very confident the results of the right so that many many many reasons that money is leaving switzerland people have been looking for and europe if we're looking for a competitor and singapore is turning out to be a great competitor whether it's a new it's a new sports a lot i don't know i would suspect it will be. but i don't know if you're going to spend twenty years what i moved to sign up for us i moved to singapore not for that reason i had nothing to do with live here but that is something that i know i wou

is the chief economist and head of research at deutsche bank russia if i go to you first we just had at the end of last week g. eight they were announced.

much a living wage and those are important industries but when we see the finance industry and deutsche bank particularly laying off thirty five hundred you know employees at a time where are they going to go i mean they have to this has to do with the whole reemployment thing in the student loan bubble that we're seeing when the government guarantees student loans the universities have the ability to price increase the price of tuition and that's exactly what we've seen so we have a lot of people coming out of college and maybe not all of them should college just throwing that out there well actually do agree with you on that i think you know not everybody is meant for academia they're just not i mean i can i mean there's plenty of other industries that people can be involved in i mean we need we need farmers need people to drive tractors we need. there's plenty of other job that i think are going to shock the world always needs to it's terrible. all right well bob and i have decided to hire our own list of the five words college majors to become a central planner regulator of the financial

wealth simply you would expect us from what george osborne doesn't have the strength to do the deutsche bank i.m.f. german way of outright death i mean death camps and extermination no no he's going to the hyperinflation way by simply starving people to death by allowing prices to skyrocket and in this country of course you see it in subtle forms like horsemeat mills on reduced portions for things that the store has so really the adjusted rate of actual real inflation in the u.k. is not running at two point eight percent like the government says it's running at over nine and a half percent real inflation in real terms now again of course also tied in with this is that there's no new plan being introduced iceland is radically re altering their economy away from banking and banks are schemes here the article point. south the chancellor george osborne will find little comfort in the findings as they suggest families may not be able to spend the economy out of trouble or have enough free cash to absorb any increase in interest rates this. is doubling down on fraud it goes into the into the deriv

coming up, deutsche bank economist tells us the best and worst sides he sees in today's gdp report. keep an eye on your money. ♪ money has to last longer. i don't want to pour over pie charts all day. i want to travel, and i want the income to do it. ishares incomes etfslow cost an. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus, which includes investment o objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible ss of principal. adam: welcome back to markets now. i'm adam shapiro. tracy: and i'm tracy byrnes. collet another bad news rally because stocks are a big on the news that the economy was weaker than we first thought. hoping the fed will keep the money prrnting going. despite gdp news, deutsche bank economist says that the fed actually my stop the printing presses even sooner than it thinks. adam: also, gold is tumbling for a third straight day. on track for its worst quarter in history. how much lower can it go? how shou

the chief economist and head of research at deutsche bank russia. to you first we just had at the end of last week g. eight their announcement about the global economy as least as it concerns the g seven g eight point i would say are they all on the same page. you have a steady in europe and you have sequester in the united states you talk about job creation and both create jobs well i think the developed economies are very constrained. either through monetary policy or. policy i think part of the reason why you had such a statement was simply because there's not a lot of arsenal. tools left in the tool box exactly exactly i think if we're talking about fiscal policy fiscal deficits are very high there's not a lot of room for maneuver and then you take monetary policy with interest rates in the u.s. it's close to zero there's not much that they can do we'll talk about quantitative easing in a second there charles what do you think about that i mean how is it reflecting the true condition of the global economy because we would expect from these count

the chief economist and head of research at deutsche bank russia. go to you first we just had at the end of last week g. eight their announcement about the global economy as least as it concerns the g seven g eight point nine i would say they all on the same page. you have a steady in europe and you have sequester in the united states you talk about job creation and both don't create jobs well i think the developed economies are very constrained in undertaking a significant stimulus either through monetary policy or through fiscal policy i think part of the reason why you had such a statement was simply because there's not a lot of arsenal. tools left in the tool box exactly exactly i think if we're talking about fiscal policy. very high there's not a lot of room for maneuver and then you take monetary policy interest rates in the u.s. at close to zero there's not much that they can do we'll talk about quantitative easing in a second there but do you think about that i mean our. it reflecting the true condition of the global economy because we would

the chief economist and head of research at deutsche bank russia. to you first we just had at the end of last week g. eight their announcement about the global economy as least as it concerns the g seven g eight point nine i would say they all on the same page. you have a steady in europe and you have suppressed or in the united states you talk about job creation in both don't create jobs well i think the developed economies are very constrained in undertaking a significant stimulus either through monetary policy or through fiscal policy i think part of the reason why you had such a statement was simply because there's not a lot of arsenal. tools left in the tool box exactly exactly i think if we're talking about fiscal policy fiscal deficits are very high there's not a lot of room for maneuver and then you take monetary policy interest rates in the u.s. it's close to zero there's not much that they can do we'll talk about quantitative easing in a second there charles what do you think about that i mean. how is it reflecting the true condition of th

has bullish call, at deutsche bank talking about the fact they're loving groupon here.o grow billings more than 20%. overall, and the short interest, the float is actually down. so that is good news. gamestop, also a real winner. price target raised to 50 bucks. year-to-date up 55%. great performer. back to you. ashley: nicole, we'll be back with you at the bottom of the hour. tracy: france threatening to block trade talks between the united states and rest of europe of all things, showbusiness. i can't wait to hear the story. former world bank chief robert zoellick will weigh in on this. ashley: a battle with hollywood. first let's look how the u.s. dollar is moving today. it is stronger against almost all currencies except the japanese yen which is stronger against the dollar. we'll be right back. >> 189 minutes past the hour, i'm rick folbaum with your fox news minute. ban ki-moon opposing u.s. decision to send arms to the syrian rebels. he disputes the assertion that he has conclusive evidence that the syrian president bashar assad's regime has used chemical weapons

and they have interviewed former employees of deutsche bank's u.s.the company actually miscalculated some of its credit derivatives from 2007 to 2010 allowing the firm to hide about 12 bmds $12 billion losses. deutsche bank has denied that, nevertheless, the stock is responding to the news as the probe continues. >> underperforming the market. thank you. without action from congress, rates on federal student loans are set to double starting july 1st. is a last-second fix in the works? we'll ask senator richard blumenthal when we come back. >>> plus, the bell is about to sound across europe. there are just a few minutes left to go in the trading day there. we'll have details on the close when we come back. tdd#: 1-800-345-2550 opportunities are waiting to be found in faraway places. tdd#: 1-800-345-2550 markets on the rise. tdd#: 1-800-345-2550 companies breaking through. tdd#: 1-800-345-2550 endless possibilities. tdd#: 1-800-345-2550 with schwab, i search the globe for the big movers. tdd#: 1-800-345-2550 i can trade in 30 different markets tdd#: 1-

nike shares are running higher after deutsche bank initiated coverage.s planning to order 12 new planes from airbus. $3.3 billion. that is the latest from the fox business that work. giving you the power to prosper. ♪ dennis: gene simmons is not just another pretty face. ♪ i want to rock and roll all night ♪ dennis: he has now gone into the restaurant business. look who is here, none other than gene simmons himself. thank you so much for being with us. >> when i was playing with, i created this thing. i did it when i was holding my pick, i waved my audience. dennis: that is how it happened? >> nonsense. people thought it was the double side. it actually means i love you in sign language. write that down. dennis: do you own them all out right? >> the answer is yes. i am not here to look for a dime from anybody. rock and -- we ant to make it an experience. dennis: you are making this restaurant with an actual family picture. >> that is right. any rock and brews restaurant that when you go there, you are surrounded by video screens and large murals and stuf

>> part of the reason is i couldn't disagree more with the deutsche bank report you just said. this is not next 94, we cannot afford high interest rates. they would happens the government debt. we cannot afford to pay high interest rates. corporate america is in good shape, but our tax revenues coming up with reform on the fiscal side, we get high interest rates, we cannot afford high interest rates so we have to be very careful with how interest is going higher. now the housing market seems to be in recovery but not because prices are not up, but people are flipping homes again. we don't have a recovery on the base, we have financial engineering going a bond market that is in a very precarious situation. connell: your take has been your negative on the u.s. dollar. is that it, or is there more to it? >> it is way out of itself. interest rates are good for the dollar. it is wrong because when interest rates go up, the bond market goes into a market that has priced in the dollar rally and infinity. they talk about negative interest rates which is not going to happen either. the

making mon, investors in groupon, the gup coupon ha apparently not over at least according to deutsche bankroupon stock the by, pointing to its growing attraction in mobile. leing more than 11%. andaking money and getting a new life today. the terminator franchise. seriously? the ceo of oracle paying 33% of the budget for a new terminator fell because they have money to burn. paramount pictures will pick up the rt a, yes, arnold schwarzeneggerays he will be back to reprise the role. shooting begins in january. just wt we need. u.s. officials are notaking all necessary steps to psecute edward snowden. the case against the yen as a whistle-blower apprs to be growing daily u.s. counterintelligence fear he has yeto release aitional classified documents and it tried it is believed h would be prosecuted under thespionage t. how lawyer defending in court? few people know betr. an attorney and currently represents whistle-bwers and also was a bore herself. thank you for cing on the show. how similar is this to the other and as a -- nsa was you're working on. i understanthe circumstances, talk a

>> the deutsch bank, industrials, they highlighted the reasons people have been bullish on the stock.0 million of cost cutting and their goal for 11 to $12 billion revenue figure before the housing bubble came undone. that's speculative and the valuation is rich. i would avoid it. >> drop for leg mason down 3%. >> the whole asset management space has been under pressure recently. if you look at demographically they're challenged over the next two to five years. i would be out of all these things. >> a pop for kanye west. the gold digger rapper p can't stay out of the news. the latest jolt comes from a bizarre interview with the new york times where he compares himself to steve jobs. he testifies he's the steve of the internet, downtown fashion and culture and predicts that he will be the head of a million dollar company one day. >> isn't the same guy that wore a skirt at a concert, not that there's anything wrong with that. >> if he's scottish. >> when you are in scott land, why not? >> coming up next we're bringing the world of about 3 d printing to the forefront. we have your first

. >> deutsche bank's global investment conference is under way. entations from many of the major banks, matt o'connor is the analyst and joins us from the conference live in new york city. welcome, nice to have you on. >> thanks, scott, thanks for having me. >> do you have a best name in the space in the environment we're in with the prospect of rates going up? >> well, rising rates is one of the key themes we're trying to play. last week we actually put out this piece called banking 201, which is everything interest rates in the banks, how the banks benefited from rising rates, flattening yield curve and to sum it up, the two names that screen well are morgan stanley and jp morgan. it's all about morgan and morgan from our point of view. >> what about the traders on the desk here? >> morgan and morgan. i get jp morgan, why not step down a little bit and take citi which also has a run but noz a big a run in terms of fundamentals where's it's pent up mismanagement and going ahead in the right direction. >> yeah, i think we've been a big fan of citi

analysts deutsche bank of credit the stock saying increasing use of the company's moble application canes. u.s. mobile and social media and anyway to make money off of it and it will like it. the stock is looking good. still searching for replacement for co-founder andrew mason who was ousted as ceo in february. he stepped down because he was pushed, but even with today's gains you can see why. shares still down 13% of last year, they have to co-ceo is filling in for the moment. take a look in some of the other social media names. most of them are doing pretty well. linkedin up. sing a better. look at yelp. up 5% right now. apparently started it with a buy. we just want to mention facebook town and a half% even though it cannot say we will be used in a haystack. to what end, i don't know. let's move on back ted christine lagarde at the imf. i get an exclusive interview with the managing director, and we discuss everything from where the next cypress, the next crisis might be. the u.s. housing market. they just came out with a brand new report right here on the u.s., specifically focused

former vice president of merrill link and deutsche bank.ew york state attorney general eric schneiderman, co-chair of the mortgage crisis unit, the financial fraud enforcement task force. mr. schneiderman, i'd like to begin with you. you have been on this and i want to just set the terrain for people which is that all states attorney generals say one sued the banks basically over precisely the kind of practices that are spoken about in these affidavits. there was a settlement in which the banks agreed to certain terms. what evidence do we have that they are agreeing to those terms, that the kinds of stuff that we're hearing about in these affidavits are no longer happening? >> well, the affidavits flesh out a fraud complaint, and i haven't interviewed the witnesses here. i can't speak to this complaint. >> but i can tell you we do know they were stringing homeowners along, and i was here six weeks ago talking with you, and we sent notice to the monitoring committee under the settlement you describe that new york, the first state to do this,