the june sentiment number came in and we also saw producer prices for more than expected but as i noted it is a one week chart with all three major averages down roughly 1% this week so right now it is to the upside with the vix index. cheryl: in triple digits. concern of u.s. economic recovery imf's directors sitting down with fox business acre liz clean in an exclusive and take a listen to what has her worried about economic recovery. >> we believe because of the housing market and improvements in particular there will be a more durable recovery yet it could be better. clearly the unemployment are lower than what they should be and we see the fiscal policy of the deficit-cutting to be too harsh. >> stay tuned because come down to the closing bell liz has more of her exclusive -- exclusive interview with christine lagarde. cheryl: lots of volatility in the market as investors fear the day the fed will start to ease back and you just heard from the imf managing director christine lagarde that the recovery is more durable than before peter barnes is live with that. >> the markets are slightly anxious about the fed's plan to pull back of bond purchases and quantitative easing and when it could start short raising short-term interest rates and investors could expect some signals about the fed's intention at the policy meeting next week to conclude with the regular quarterly press conference with german ben bernanke. >> day weld make -- there will not have rates rise in to we have firm evidence is expanding as expected. >> the wall street journal flag that an article just before the market closed yesterday that the adjustment of tapering does not mean that the fed would end the bond purchases all at once or that it is anywhere near short-term raising interest rates today the bond is higher interest rates are lower and the "journal" ease in the market that it could be preparing for a quick exit from q.e. rich: the markets are searching for any hint if the fed will trim the bond buying programs are investors looking at the right indicators? one negative? writing that about the fed and inflation writing for wells fargo advisers in here with a market perspective let's start with victoria. starting with the inflation and pulling back will we see it any time soon or are investors worried the easy money-- are coming to an end? >> ben bernanke did say to testimony that the fed could decide to start pulling back in the next few meetings. it is very unlikely that apple back we'll start at this meeting coming up next week. but once the fed makes one reduction was one step down of the bond that it buys that there is the inevitable march to the end of the program and the fed would bring short-term interest rates as well and the fed is keeping things very separate also as one step down with the blind buying and does not mean it will keep going. we'd all like the word tapering to start with a it suggests a steady downward progression. and they say it is more like a dial to keep it in place and moved back up as the economy gets worse. cheryl: talked about the amount of money they are spending but we heard the number between 10 and 20 billion but many analysts have said that is fair to keep it within the range. is that a viable option and has that affect your outlook? >> eventually they will. they will not do anything drastic it will be a process that could take two years before they stop completely. of item think any tapering it will occur this year may be 2014 you would get 1.five or 1.seven maybe even lower in the second quarter there is still lots of things going on around the globe i just do not see the fed starting to taper. rich: is their language we should look for in the upcoming fomc press release next week as a message for the markets or will they not be concerned? is their specific words or terms to signal the ffture? >> i think the changes to this statement will be minimal. one thing i will be looking for forecasting with the story is if they change the outlook on inflation and so far they have been a sanguine about the low inflation rating was the movement downward and the long term long run inflation exhortations may be they will be a little more worried and they could signal maybe they're not as ready as they were before but the real news will be in a press conference with the message that ben bernanke and how he tries to explain what they will do. in hammering home of the message. cheryl: that is what could add to the volatility in the market, sitting at session those right now. you just came out with the mid-year outlook to change receptors? >> i don't think so. we looked out further and i think ben ernanke when he makes comments he will say this could happpn. that does not mean that is what is going to happen. so what we want to do is from the november load into six or eight weeks ago it was defensive but if you look at the last seven weeks it has been a cyclical market materials, a technology, industrials, tho se types of sectors that benefit from the ad and flow that is where we want our clients to be not just the balance of this year by 2014. rich: you believe teosinte could close at 1700 but also the fed could ruin it was increased transparency has gone too far? >> i think increased transparency normally is good but some governors are saying to taper and others say rigo for the foreseeable future that causes confusion causing volatility. it is an opportunity right now is we want to take advantage of that. cheryl: but what you point* out this morning in your piece you talk about consumer price data today. of economic data has been decent even though christine lagarde seems disappointed in our economy but inflation may pick up but i think the time frame is the question? >> right. i think what will happen happen, the fed will signal as much as they are not concerned but they are watching the inflation numbers very closely. most do think it will pick up later in the year. what ww try to say in good others are saying is if that doesn't happen they could shift the calculus with certain key officials have made it clear so this is one of the pieces if they decide when to pull back. rich: great to have you. thank you for joining us here on fox business. cheryl: drones. the controversial new weapon in in the real-estate war? rich: also delivering pizza they could use of relief over at black rock drastic measures -- measures in with the money manager is doing to overhaul the underperforming equity market. pink slip? cheryl: richard branson we will introduce you to the auction site making it happen. ♪ ♪ cows moo ] [ sizzling ] more rain... [ thunder rumble] ♪ [ male announcer ] when the world moves.. futures move first. learn futures from experiend pros with dedicated chats and daily live webinars. and trade witpapermoney to test-drive the market. ♪ all on thinkorswim from td ameritrade. woman: what do youean, home doesn't cover floods? [ heart rate increes ] man: a few inches of water caused all this? woman #2: but i don't even liv. what you don't know about flood insurance may shock you -- including the fact that a preferred risk policy starts as low as $129 a year. for an agent, call the number that appears on your screen. rich: if you are selling your house you may ask what is that in the sky? it is not the new superman movie. they are using drones to shoot their own video from the air to sell houses but there are huge privacy issues than they could be breaking the law. but here is liz macdonald. >> good to be with you. the wave of the future this week being cinematic hollywood shots the realtors are falling in love with where the drones he picked them off of the internet on amazon $650 it is the shot of a home in orange county by datapoint. but the bp oil spill inspired realtors use drones for these shots because they are used to cover the bp wailes bill. they said this is a good idea but are they operating in the gray zone? yes. the faa has to roll out the role for commercial use right now it is using the model airplanes standard you cannot fly them below 400 feet or in populated areas that used to be a no-fly zone but now there are 18 states cracking down to say we will not allow the drones for use in certain wayy so this could be a fight because the rules are coming out in 2015 the president just signed into law to be used for commercial. rich: we don't see the paparazzi coverage in new york city because we're populated area? >> but the lapd has cracked down and local states and officials have cracked down to say some drones can just flow -- 540 feet as opposed to the 400 so there are privacy and safety issues. they can do 360-degree shots around houses. there will be another fight. >> we all have friends of realtors especially in southern california. >> it is a major issue and some drones were rumored to crash into each other. [laughter] so is it operating in a gray area? yes. the faa will say stop. will they get a fine? possibly know because the rules are what about so this is a wave of the future the realtor drone. rich: thank you very much. cheryl: now let's go back to nicole petallides at new york stock exchange. >> despite the fact down 102 points sitting at session lows here with some good sizable gains wheel negative groupon in deutsche bank putting on a price target and more than 20% in with that e-mail plush and that has improved if you think the answer or smith and wesson dollar doing well. they are surging up 4.6% tridents is better than expected on a day where a lot of red is on the screen. cheryl: late but black rock is just about done with the overhaul of the underperforming u.s. stock unit. the world's largest money manager stock fund has lagged competitors with investors pulling over $7 billion from the active equity fund over the past 18 months. the fix includes a the find and interestingly enough cleaner-burning that the central figure behind the overhaul is going on medical leave but it is surprising they had this much issue. >> it is just more proof of evidence the best and the smartest steelmaking the educated guess. rich: all lots of money at stake. also the fda has been warning about cyber attacks and your house. dr. alvarez gets to the heart of the matter. cheryl: are you looking for this? with the u.k. hopes that baby will do for the struggling economy. rich: it is due this month? in june? now look at the currency and where their trading. >> 23 minutes past the hour in iran millions of voters cast ballots to removed on the denis donoghue has served as maximum eight years in office voters are choosing between hard-line candidates and one moderate there is no clear front runner. the government says the u.s.'s allies in the assertion that the syrian regime killed when a to 50 people using chemical weapons and russia is disputing the claim and obama is national security advisers say the president will discuss the crisis with the president vladimir prudent at the meeting in northern ireland. florida and governor jeb bush will say the economy will decline unless more immigrants get a path to citizenship but first they should be refused welfare, pay a fine and be forced to learn english the immigration overhaul is moving its way through congress right now. now back to cheryl. cheryl: a new warning from the fda urging medical device makers to focus of cyber security with the reason of recent uptick of patient monitors imaging devices. >> i don't think the medical community thought about it 80 percent of all hospitals are electronic which are %-machines to use with the regulated equipment to make sure medical records don't get displaced and people do not have access within the hospital grounds but no in reality we aae told devil to hacking and with patient information. it has happened more and more but in any kind of cyber attack with foreign company or even the individual to do harm once that happens then we will be in trouble. cheryl: i see the issue up and duration being breached but more about the specific information of the patient. do you see a health risk? >> i do. a lot of machines we talk about calibration issues. it is in getting inside altering the ground level you can crash the plane to alter the dimensions of the ground the same thing can happen. if you talk about how to precisely hit a tumor anybody in reality could send that information the doctor watches one thing the computer does another to alter there be. in reality it has to be taken very seriously if you look at they are already paying attention but moving forward with robotic surgery or an implantable devices it will be controlled by computers. rich: what about the day that the pacemaker is hooked up to life by with a central warehouse? >> has to come from the industry because the hospital is broke. their meeting the demand of the obamacare administration we won this or that some of the investment that the hospitals are making putts a financial burden on them but did not have the capacity or the dollars so now the initiative passed to come to come with the ge to bring it to the market to implement in the device so they can utilize it to in the effective way. cheryl: you hope this serves to work. >> this will get worse as time goes by. watch. cheryl: thank you. good to see you. rich: and oil at a two month high. cheryl: and this will keep the human-resources department busy for a while the wild pitch to look for a new ceo. who was up and who is down and the dow is picking up momentum on the downside. my mother made the best toffee in the world. it's delicious. so now we've turneher toffee into a business. my goal was to takan idea and make it happen. i'm janet long and i formed my toffee company through legalzoo never real thought i would make money doing what i love. [ robert ] we created legalzoom to help people start their siness and launch their dreams. go to legalzoom.com today and make your businessream a reality. at legalzoom.com we put the law on youride. adam: half past. we want to check how the stocks are doing. want to do that with nicole petallides on the floor of the new york stock exchange. we're now at session lows, aren't we? >> right, we really are. what we shoold say we're sitting down 121 points. moments ago we 15,046. off the lows of the day. these moves put all three major averages over 1% loss for the week. nasdaq is the worst of the butch. let's look at wells fargo down 1.9% at the moment. the were dropping. they said limited uppside for current levels. that is something we're watching worth noting that jeffreys raise the their price target on wells fargo. the banking index is to the downside. names like jpmorgan for example, are losing and so is the dow jones industrials. jpmorgan, bank of america, couple of those dow components back to you. adam: nicole, thank you. cheryl: fox business contributor phil flynn of price futures group in the cme. concerns about the middle east driving the action today? >> it is. you can tell what is happening in the stock market. recently the oil has been following the stock market up and following it down. today there is die edgerrance is the key a lot happening over the weekend. not only syria but iranian elections. you have problems in the sudan. all of these issues making it very, very dangerous to be shorr short over the weekend. you have a little bit of short offer evercoreing. people don't want to be short with uncertainty in the market. if we get through the weekend and nothing happens, we could see the market fall pretty traumatically. if something heats up that could be a different question. look at products today. they're very, very strong the being led by none other than than gasoline rbob futures. more remeaning problems in the midwest. i sound like a broken record. it happened again. whiting with a crude unit. joliet trying to come back from the lightning strike early in the week. the poor midwest. it has been rough and will get rougher before it gets better. cheryl: at least in california refining activity is still going. phil flynn from the cme. >> thank you. adam: is slow growth here to stay? the latest round of economic data pointing to a so so recovery. may producer price index up one half of 1%. consume he sentiment dipping missing the street's forecast of 84.5. retail sales many coulding in better than expected. for more on the state of the recovery and to explain it to us, we're joined by steve ricetto the chief economist as mizzolu securities. thanks for joining us. what is someone carrying debt and wants to make money in those who lept credit to us be paying attention with regards to interest rates? you believe we've bottomed out, correct? >> well i think you probably seen the bottom down around the 138 level. i don't think that is an argument to expect substantially higher interest rates. in the last couple of days with the extent which mortgage yields backed up in this country we've seen a sharp slowing in the pace of mortgage production and in terms of applications being filed to take down new mortgages to refinance. we still have an economy not growing very rapidly and people don't have the income to absorb these higher rates without pulling back. that is kind of what iss3 happening with the economy right now. adam: you hit upon something we all can understand. for instance, mortgage interest rate. we've seen mortgage interest rates tick up a bit. yield on ten year was ticking up i was on the phone with a buddy. he says ten year yields will come down a bit and mortgage interest rates will follow. is he wrong? >> well, i think the reality is it is probably going to happen. there is no argument for sustainably higher interest rates. the fact that we backed mortgage interest rates to above 4% and we saw the activity come shutting down very rapidly is evidence of the fact there is not the kind of driving force within this economy. there isn't the income generation. wealth is, wealth creation that is taking place in the equity market or for that matter in the real estate market is not driving consumer spending because people don't see those two categories as permanent wealth anymore. we've been through 20 years of and therefore nobody wants to make a bet on them. everybody is paying attention to wage and salary growth and that is not very strong. adam: wage and salary growth is not very strong and i realize this is look backwards, may sales figures were better than expected. spent more on cars, home good, sporting goods. were we putting that on the credit card enjoying the stock rally or was something else going on? >> a lot of it was autos. the automobile industry is discounting cars very aggressively because of the stricture of the yield curve. think what will happen going forward that the bulk of the selloff that took place in the interest rate environment was in the portion of the curve that finances the automobile industry. i think you will see future sales numbers in next month or two will slow reflection as ability to discount has dried up and people back away. adam: to wrap this up where i started with you, if i want to invest with those that lend credits, if interrst rates go down where would you advise me to go? >> grab yield wherever you can, grab yield. the fact we've seen in high yield was unsustainable that is a good place to to. if you want to be safer be in the in-- investment grade space, those yields moved out nicely. even preferred stocks yielding 5.5% on some big name financial institutions are very food places to go right now. grab yield. get it with a level of risk you're comfortable with and sit on it because interest rates are not going substantially higher. adam: steve, we appreciate you joining us from mizuho security. >> thank you. cheryl: thanks, steve. are you looking for a new job? lululemon already posting a listing for its ceo position coming just days after christine day unexpectedly announced she is leaving the company. lulu is definitely taking an offbeat approach starting with the job description. it kicks off saying, you report to no one. you are the ceo, duh. and you may need a special set of skills. the ad says you have to communicate powerfully often through scans crit. on toppof lulu's chairman on speed deal, oprah is on the list. hold a head stand for at least ten minutes which is very difficult to do if you never tried it. adam: i have never done yoga. you have to vote for pedro -- pedro or knows what that means. if you know the blurb where it says vote for pedro where it comes from? cheryl: no. adam: i looked it up. it was movie, can't even think of the name, "napoleon dynamite." cheryl: thank you, smart producer, giving me the answer because adam didn't help me out. adam: no, i just had a middle-aged brain lapse. cheryl: it was such a drag to see the way they dismissed her. yes the pants issue was a problem, the head of merchandising left. adam: $75 billiin market cap. they will look a little more than what they put online. we have to move on. paying for premium. a unique gaming how the super high-end market is faring in this economy. cheryl: going the extra mile in thigh high, six-inch healed boots. you know you want to do it, ladies. ceo oo charity buzz is head. the auction for the walk-on role for this year's best musical. ♪ this man is about to be the millionth customer. wod you mind if i ahead of you? instead had someone go ahead of him and win fiy thousand dollars. congratulations you are our one millionth customer. nobody likes to missut. that's why ally treats al their customers the same. whether you're the rst orhe million. if your bank dsn't think you're special anymore, you need an ally. ally bank. your money needs an ally. try ig it's the number one ge recommended probiic that helps maintain digestive balance. ♪ stay in the groove with align. >> i'm jo ling kent with your fox business previous. it's a tough day on wall street following a drop in consumer sentiment. soon how soon the federal reserve will taper the stimulus program, also taking its toll. cash-strapped millen y'alls are using traditional and financial services to meet their needs. 45% of young americans used some form of unusual financial products or service within the last year. those services include prepaid debit cards and pawn shops. father's day means many things. coffee mugs, weird gadgets and ugly ties. free food for dad. some familiar restaurant brands like shoney's and hooters will have no cost or low cost meals for the pops will lure guest who is might not otherwise walk in the door. that is the latest from the fox business network, giving you the power to prosper. mint con. mint condition] we're excite toddies cover this hoard original mint condition. cheryl: have you ever wanted to party with richard branson are or have hundred which marisa mayer or a boat ride with martha stewart? if you're willing to put up the right amount of money charity buzz can help you with that. we have the ceo. you have a great name and great business going. >> thank you, cheryl you take 20 percent of the fees. rest goes to charity. >> 80% goes to the charity and we keep 20%. cheryl: the celebrity picks the charity. >> correct. cheryl: martha stewart you're working with her. >> yes. cheryl: you go to her home for x-amount of dollars will cook for me. >> she will do everything. in martha stewart style. benefits her charity which is the martha stewart foundation. cheryl: then also coffee with tim cook, another example. a party with richard branson. >> imagine that. a day with richard branson. cheryl: i can imagine. that would be great, actually. how do you get big-named celebrities to get involved with charity buzz? you have an amazing roster. >> thank you. the celebrities like to come to charity buzz we put together a network of folks. we have 100,000 people come to the site, top households in the world and we're full service. celebrities have a social conscience. we put together unique experiences. we auction it off and charities of their choice get the money. cheeyl: your slogan is profit for a purpose. what does that mean? >> we truly feel it is good business to do good. these experiences we put together that provide access, fulfilling your dreams, you're able to fulfill your dreams and know the money you spend will go to support a worthy charity. cheryl: one of the things we saw surprised many, the lunch with warren buffett, amount of money that was bid was actually down substantially from a year ago. did that surprise you? >> that was surprising. so many people want to fulfill these dreams that they have, and have the money go to charity. we were surprised about that but it is an auction, you never know. two people at end have to bid it up. we found in most of our experiences getting a lot money. last month, tim cook, half an hour coffee with him went for 610,000. right now we're excited about marisa mayer and opportunity to have lunch at the yahoo! location. we expect that will go for loft money. cheryl: 40, 45,000. >> no. already it is close to 80,000 and we have two weeks left to go. cheryl: wow! >> we have lots of interest on it. you worked with oprah and j.c. >> marisa mayer believes in charter schools. she picked her local charter schools. support kids in need. she can use her celebrity to do social good. oprah the same sort of experience. ethel kennedy president clinton, lady gaga they all have a social conscience they realized they can provide access for people to fulfill their dreams. cheryl: most money spent? >> most money spent last month, tim cook, 610,000. it was a tie. 610,000 for tim cook and for. cheryl: tim cook went for more than president clinton? >> president clinton one of the most notable icons ever went for 255,000. you got to shadow president clinton for a day. that is certainly terrific. cheryl: that is fascinating. it is an interesting business. >> thanks, cheryl. cheryl: you made, most of the money going to charity. >> we feel great. tense of millions of dollars each year support the most incredible charities on the planet. cheryl: thank you. >> thanks, share. adam: $650,000 for coffee with tim cook. you may not be concerned about a 100 point loss on the dow of the nicole petallides, how are we doing? i'm sorry, mark newton, excuse me, mark newton on the floor of the new york stock exchange. mark, how are you doing? forgive me. >> no problem at all. adam: we're down not as much as we were earlier. why are we seeing a selloff today. >> we're seeing amazing amount of volatility. we are seeing one day of follow through they're sadly mistaken. down 100 points two days ago. were down yesterday. tough to pin it on the imf they lowered the forecast and said communication next week will be absolutely vital for bernanke to communicate. there is still loft uncertainty. even though bernanke said they want to keep rates low there is starting to be a lot of skepticism towards that. led by energy and financials, seeing a lot of strength in the financial sectors. utilities, telescopes, staples. some is because rates pulled back. although the last hour or so we started to uptick again. we're seeing downtrends in the u.s. dollar -- adam: mark? >> yeah. adam: you bring up. we're trading against the yen. of late when the dollar goes down against the yen the market goes down. are you seeing that continued correlation. >> the correlation has been about .82% six months rolling that is pretty amazing. remind people of the mid 90s. look at next decade you see negative correlation between u.s. dollar and equities. ever since the dollar started to turn down equities are following. it is tough to put a low in dollar-yen. nikkei seen extraordinary amount of volatility as well. somewhat of a backlash or at least skepticism regarding abe-nomics in japan even though economic growth, people are wondering does that translate here? the fact we're not seeing good growth and seeing growth estimates lowered worldwide yet our indices continue to rally at least since november. we've seen a little bit of choppiness. tough to make much of that so far. adam: mark newton from the floor of the new york stock exchange. cheryl: producer prices are edging higher and hitting manufacturers right in the wallet. jeff flock is at an organic dog food purveyor in milwaukee with more. jeff? >> that is mostly meat. most people wouldn't let you in a dog food plant. not only do they let you in they love it. they love to show of off the plant this is 95% meat that means when meat prices go up, your costs go up maureen moody. a great story you have. but costs are on the rise? >> yes, they are. we do our best not to increase price unless absolutely necessary. yes, if you want to put quality ingredients it costs money. >> these are some quality ingredients that go into this. all sorts of natural foods. this is organic. we have youreo. you're in a major expansion right now. we also have consumer confidence numbers which we were bad today. >> we're in a big expansion the we moved from a 13,000 square foot plant to 50,000 square foot plant in november of 2011. we're looking to expand this current facility. >> i want to see the finished product. walk with me, pies. walk as we do this is unique story and company. not only did you meat maureen moody here. this is actually marie's ex-husband who is director of sales for this company. that there is breaking news. >> that is breaking news. >> how do you guys do that? >> we get along great. everything works. >> wait a second. what are we talk about here. i need to be here. >> i think this is all -- >> you promised you wouldn't tell anyone. >> this is all coming apart live on the fox business network. what can i tell you. we break news here. by the way, what is that, what kind of food is that over there? >> phenomenal fest apt. our brand new product. just hitting market right now. >> that is the very latest from milwaukee, wisconsin. cheryl: jeff, you have to ask though, when is the cat food coming? when will they start making cat food? >> they make cat food now, right. >> we do. we have complete diets for cats and dogs. >> cats and dogs are all good. cheryl: people always left out the cats. upsetting to me. adam: dog lover. cheryl: i know. adam: royal baby watch reaching a frenzied pitch. not just the duchess of cambridge who is expecting. what the u.k. economy is hoping for next. cheryl: big money betting on this one too. the oddsmakers take on delivery day, whether it will be a boy or a girl and most importantly the name. ♪ i turned 65 last week. the math of retirement is differentoday. moy has to last longer. i d't want to pour over p charts all day. i want to travel, and i want the income to do it. hares comes etfs. low cost and diversified. find out whyine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus, which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possle loss of principal. adam: could a royal baby mean a bounce for the u.k. economy? with birth of prince william and duchess kate middleton's offspring expected in a few weeks, brittish officials hope it will provide a bouncing baby boost for the country's weak economy. with measely .3 of a percent of gdp growth in the first quarter, and following british confidence brittain could use a bump no matter where it comes from. how about a kardashian? >> this is where oddsmaker place their bets. a delivery date of july 13th has ten to one odds. the most popular guess of the baby's weight is ten pound. the most popular bet, the baby's name. most common guess is alexander. queen elizabeth's name. adam: one ever our producers say victoria. >> victoria with be nice. kim kardashian and princess are due on same day. adam: the same day. we're moving ahead. not looking at babies. sire you've serious spying and central banks and more on the agenda for world leaders meeting in ireland. world bank president robert zoellick joins tracy byrnes and ashley webster for a preview next on fox business. don't miss it. where sleepless nights yield to restful sleep, and nesta eszoclone can help youet there, like it has for ma people before. do not take lunesta if you are allergo anything in it. when taking lunesta, don't drive or operate machine until you feel fully awake. walking, eating, driving or engaging in other activities while asleep without rememberg it the next day have been reported. lunesta should not be tan together with alcohol. abnormal behaviors may include aggressivenessagitation, hallucinations or cousion. in depressed patients, worsening of depssion, including risk of suide, may occur. alcohol may increase these risks. allergic reactions such as tongue or throat swelling occur rarely and m be fatal. side effects may include unpleasant taste, headache, dizziness and morning drowsiness. ask your doctor if lunesta is right for you. th find out how to get lunesta for low as $15 at lunesta.com there's a land of rerestful sle, we can help you go there, on the wings of lunesta. ashley: welcome back, everybody, i'm ashley webster. tracy: i'm tracy byrnes. we have two hours to go. stocks are falling deeper into the red. the dow is down 113 points right now, headed for its third losing week in four. chalk it up to high anxiety ahead of that fed meeting. we'll talk about it with money managers how to stay calm in this market. ashley: meantime global market jitters will be a hot topic at the g8 meeting in northern ireland which begins monday. former world bank president bob zoellick will join us for a preview of that meeting. how a massive u.s., european trade deal is being held up by guess who, france. tracy: oh, boy. president obama about to embark on a pricey visit to africa of all places. you will not believe how much it is reportedly costing american taxpayers. we'll have that story ahead. let's say it's a lot. it is top of the hour. time for stocks now. we have to head to nicole petallides on the floor of the exchange. nicole, we're down 113. what is going on? >> tracy, ashley, this is the kind of market where we talk about volatility. this is today no different. this is the last action we've seen for the last three or four weeks the vix is to the upside. the dow jones industrials is down 3 -- 4 of one percent, off the lows of the day, up 15 points. we're to the downside and remaining to the downside. technology and energy, financials, all very weak today. the imf cutting their forecast for the u.s., that is not good news. a lot of people waiting on the fomc on june 19 to see what happens there. look at a dow, one-week chart. the dow is down 1.2% this week. still holding the 15,000 mark, to 15,051. let as look at s&p and nasdaq. the nasdaq is the worst of the butch here. you can see there, all down arrows for the week. you have names that are winners like gamestop and groupon but are to the most part a lot of red on the screen and thin volume as well because people are waiting to see about the fed next week. bbck to you. tracy: or they're in the hamptons already. either of the two. see you in 15 minutes. ashley: that would be a smart move. investors are on edge fearing that day when the fed actually begins easing its stimulus program. ittwill happen one of these days. and it comes just before the fed's next meeting as nicole was talk about. peter barnes in washington, ddc. with latest. peter? >> investors are slightly on edge over the fed's plans on reducing bond purchases as part of its quantity quantity program. once it starts doing that and once quantitative easing, is over, separately starting to raise interest rates. we should get more signals from the fed on plans for all of that at the fomc meeting next week which concludes with regular quarterly press conference from federal reserve chairman ben bernanke, who has made it very clear all along that the fed will not start backing off while the economy remains soft. >> i think now he has to reencores -- reinforce a message, we'll not change our policy unless it is strong. tapering will not occur in my opinion until the fourth quarter. i think they will start to signal a natural drawdown on their purchases, probably in september. >> just to illustrate how anxious investors are about any signs any word from the fed, on its future plans, we had an article in, that was posted in "the wall street journal" online yesterday, just before the market closed yesterday. and it said that, quote, an adjustment in quantitative easing, tapering, did not mean that the fed would end its bond purchases all at once. or that the fed was anywhere near raising short-term interest rates. right after that stocks popped. today, bonds are trading higher. interest rates are lower. and analysts say that journal article helped to ease fears of any quick exit from fed stimulus. ashley and tracy. ashley: peter barnes. thank you so much. that is the big question, when and how. tracy: you wonder if the article was on purpose? ashley: maybe. tracy: our first guest doesn't think the fed will slow its bond buying until well into next year. joining us chad morgan lander at stiffle nicklaus. the jitters are so interesting. we know eventually they will slow. if they slow down the bond buying not like they're cutting it off completely. there will be liquidity coming in. why does everybody panic over this. >> i'm thunder struck that anyone thinks that the federal reserve will even decelerate their bond buying program going into the end. year. you have several indicators that are actually not doing so well. federal reserve looks at inflationary trends. the unemployment rate is not 6.5%. it is 7. #% or around there. as well, you just don't have that get up and go within the u.s. economy that everyone's looking for. so at this inflex point we think the federal reserve will continue to do quantitative easing well into 2014, well beyond consensus. ashley: what is ben bernanke doing, chad? is blowing this kind of bipolar? it is certainly confusing the market. >> i think they want to scotch some of the trade with the ebullient equity markets and evvn on the credit side. he is concerned market speculators becoming quite frothy, market speculation. the problem here the liquidity wave the federal reserve has provide around a other global banks, it has not enter intoed the market. you haven't seep that. the evidence that the q2 gdp number this quarter is 1.5%. that is horrendous. tracy: yet we're seeing mortgage rates inch up. >> mortgage rates are inching up. that was because a little bit of a different type of environment. that was the currency cross-trade with japanese markets, okay? there was this massive liquidity boom because japan decided, they wanted to start their own quantitative easing. that in effect created this carry trade that has occurred. ashley: yeah. >> within the financial markets. that's the reason why you started to see interest rates rise. not because of the economy improving. tracy: or ben bernanke. >> or perhaps ben bernanke. ashley: what about the consumer? you know we found out that last month retail sales grew nicely but then we find out that consumer sentiment dropped. where is the consumer which, the consumer is a key part of the economy? >> the consumer is moving along at a lackluster rate, modest below trend kind of consumption path. they're still continuing their deleveraging process. that doesn't mean that the economy is going to fall into the a pit of despair. the problem really here, the reason why the economy hasn't had get up and go is because corporate spending has been rather lackluster and really hasn't hit the mark where it is on historical trend. perhaps you start to see that in 2014. but the federal reserve will not raise rates in 2014. they won't raise rates until perhaps late 2015. that is our best guess. tracy: you say companies will not start spending until next year. we're basically looking at another dud earnings season. >> it is our belief the second half of the year will be as it is for the first and second quarter for this year and it will be a very flat type of earnings session of 3% kind of growth. the problem here the expectations on the street or for a ebullient type growth trajectory. david: based on what? >> based on hope. tracy::or it is about time. >> fiscal drag. they're saying fiscal drag, that will behind us. no, that will not behind us and will go into third quarter and modestly into fourth quarter as well. ashley: quickly, chad, how does the investor play this? pretty choppy right now? >> you want to pare back your risk. we wasn't from overweight on equity allocation to more modest wait to be balanced. you want to be up the quantity spectrum. in the fixed income market, scale back your high yield exposure. go into more investment grade bond. with regard to your equity exposure, pare back small caps, go into megacap, large cap and look for companiestly growing and profitable and well-capitalized. >> it will be interesting summer. indeed. tracy: chad more gaped lander, thank you very much, sir. ashley: global trade and central bank policy expected to be key issues at the g8 meeting that begins on monday. former world bank president bob zoellick is here for a preview of that meeting straight ahead. tracy: new controversy over unmanned drones. realtors are using them to sell property. this is crazy. liz: will report on the uproar ahead. first as we do every day this time of day we have to check how oil is trading. it is up about a dollar. $97 and 76 cents. tracy: that time of day. we'll make an attempt to make some money. charles payne is here. the dow is down 107 points. this hour he has a pick where the sky is the limit. >> i like that. who wrote that? tracy: good stuff, right? >> skyworks. adele did not dot sound track for it. these guys have been around for a long time. they do analog chips and radio frequency chips. a few years ago all they did, only markets for them were really cell phones and infrastructure. now, sort of the, i was going to say the sky's the limit. i just did. no pun intended, they have so many opportunities. they have been so revolutionary. think about the cars, for instance, all the different chips in your cars now. ashley: yeah. >> rear collision avoidance censors. satellite radio, home link. dash navigation. traffic control system. infotainment. audio, 8-track. airbag censors, tire pressure censors. in the house, media censors, networking, everything. they're positioned perfectly for all of that. the stock has not done very well, been pretty poor execution. i think that has created an opportunity. ashley: been under pressure a little bit. >> it has been. but i think it held at 20 which is a good sign. >> yeah. >> i don't know that it takes off per se unless it, until it closes above 24. when it does it's a classic momentum stock from time to time. i think it could really go big. tracy: what do you think will happen with the fed meeting? >> i think they will try to assuage the market which i think is a mistake. i think pandering to the market has been a huge mistake for ben bernanke so far. ggtten him in a lot of trouble. i think abe did the same thing. made big promises in japan. gave them a lost stuff. wasn't enough. i think you make a huge mistake when you pander to the market. tracy: can't pander to anybody,. >> exempt your kids, no? tracy: they will run you right over. trust me. they will run youuright over. >> by you backbone for this weekend. ashley: no pandering, kids. tracy: no pandering in my house. ashley: almost quarter past the hour. time to check these markets. we're off 10 # points on the dow. nicole petallides on the floor of the exchange. >> taking a look at two names bucking the trend, tracy and ashley. we're looking at groupon and gamestop. the dow is down 10 # points. these names are doing well today. well year-to-date and bucking today's trend. take groupon which is up 13.25%. what a huge move for groupon this is winner year-to-date. the price was raised from six bucks to ten bucks. has bullish call, at deutsche bank talking about the fact they're loving groupon here. they expect to 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. he said there can not be certainty without an on the ground investigation. millions casting ballots in the iranian election to replace mahmoud ahmadinejad who has served the maximum eight years. reportedly there is no frontrunner. those are the headlines. i'm rick folbaum. back to ashley. ashley: rick, thank you very much. trade talks between the u.s. and the european union will be a focus at next week's g8 summit. negotiations may have already hit a snag with france threatening to block a free trade deal unless its movie and industry is protected from the mighty hollywood and silicon valley. the question will these formal talks actually move any further forward? joining us former world bank chief and u.s. trade representative bob zoellick now at the peterson institute. bob, thanks for joining us. i guess the french are worried that the american mass media entertainment will be a threat to european culture i think is what they're trying to say. how can this hold up such an important trade agreement? >> well, glad to be with you and let me explain for your viewers kind of where this is in the process. the european commission negotiates on behalf of all 27 member-states which france is one. so before they actually even% enter formal negotiations with the united states they have to get a mandate. and what france is saying is, it wants a cultural exception, soo3 none of these topics can even be on the table at you will. so the commission has said we're willing to promise to deal with them with greater sensitivity but this is issue whether they're part of the game at all. and the equivalent on the u.s. side it has to get authority from the congress to be able to negotiate and they will also give directions earns so as it stands and the latest report from, reuters i should say, france is absolutely adamant about this point and they will not back down. does this really torpedo this effort, this transatlantic trade effort? >> it is not a good sign f it actually goes forward in that form, then the united states would start to take things off the table as well. then you start a process where as opposed to trying to figure out how you open markets, you start to get a least common denominator approach. the u.s. dealt with these sensitivities in other countries. they negotiated with a free-trade agreement with canada in 1988 but also had special provisions with culture. the u.s. recognizes there is an interest for countries to subsidize movies and films in their own language but the question is, does it take totally off the table, particularly when you've got, with internet aawhole new delivery mechanism? ashley: well it seems bizarre to me especially because the french economy is struggling, the eurozone as a whole. this trade agreement could boost the amount of money generated in trade by more than 100 billion u.s. dollars a year and yet we'll get hung up on this particular issue. seems insanity to me. >> well, there is going to be other tough once. the united states will have issues on agriculture where it feels markets were blocked. the united states now and then triee to protect various interests. that is the lot of trade negotiators. everybody likes the idea in concept. it's a great way to create growth and opportunity but there is lot of protected interests. ashley: the devil is in the details. there will be discussions about taxation and reduce tax evasion in developed and undeveloped countries. how much progress do you think will be made there and is there universal support for it? >> i think the british is hosting the g7 and g8 meet something focusing on a limited topics. because now there is limit bigger grouping g20. they're trying to focus on transparency, tax and trade. on each issue they have some sensitivities they will have to negotiate but it is important for the major advanced countries to see if they come to some similarity of positions on these topics. ashley: it is not just financial, is it? we have to mention the politics and latest in syria and what the leaders of the country, the g8 countries should be the next step with regard to addressing what is going on in syria. do you think that will play a big part of this summit? anytime you get leaders together they just don't stick with their scripts. undoubtedly given some. statements where the obama administration showed movement closetory where brittain and france would like to go i suspect that will be a topic discussed on the side for sure. ashley: but you don't think any result will come out of this, any firm policy? >> i'm not really in a position to know. i things are moving quickly. ashley: yeah. >> the united states in face of some of these recent events has started to move. i just don't know how far the administration will go. ashley: we shall see with interest. it begins next monday in northern ireland. bob zoellick, with peterson institute for international economics. thanks tore being with us. >> glad to be with you, ashley. tracy: speaking of international, president obama and the first lady are going to africa later this month and it ain't going to be cheap. "the washington post" reports the sub-saharan get away to senegal, tanzania, and south africa will cost 60 to $100 million. where the heck is all money going? first there is navy aircraft carrier, fully staffed hospital, cargo planes lifting more than 50 support vehicles to limos to bulletproof trucks. 24 hour fighter jet protection and more than 200 secret service agents. man, are they hanging in the trees ? during the week-long tour the president will hold bilateral meetings in each country while the first lady has her own schedule of stops adding to logistical costs. you have to protect the president in one case, first lady in the other. ashley: traveling circus. they canceled the planned safari, protecting first family from dangerous animals could be a problem as well. tracy: then they will really have to be in the trees. ashley: they are, snipers,% everywhere. wouldn't want to be a lion in that situation. there you go. tracy: all right. well, believe it or not there's a new look for the social security card. one group is pushing for changes that will make the card more secure and cut down on number about illegal workers in the u.s. rich edson in washington, d.c. with more on this. i actually have my social security card. >> yeah, i think i know where mine is, i think. somewhere. you know, a group of tech companies they want miles per hour to toss those old paper social security card tracy may or may not know where they are and want to sell the u.s. government these, plastic card with security chips installed. cardholders would set a personal identification number, theoretically making stolen cards useless. here's the say you're applaying for a job. you get one of these cards. the government would send you this. has a smart chip involved. a company that is hiring you would get one of these card readers here. so you put the card, the card enter the pin code and tell you on the spot with a government database whether or not you're in the country legally. and a set of tech companies stand to benefit. >> there's a very robust industry that manufactures these type of card. they're multinational companies around the world. probably a lot of companies you never heard of but certainly they are involved in manufacturing everything from smart card-based card to the passport that americans use today to travel around the world. >> and those are companies like jamalto, zebra technologies, xtech technologies and nxp semiconductor. one cybersecurity expert though worries about the proposed system saying cybersecurity is a huge issue with this. and i guess it could open ourselves up to a larger attack, cyberattack if the information is stored in one location. the response from the manufacturers, they say the security and reliability of smart card has been proven by their success in hundreds of large-scale deployments around the world. as for the cost on these things, these card right here, this is about 2 to $3 each say the manufacturers. you can get the card readers between ten and 20 bucks. back to you. ashley: interesting idea. wonder how easy they are to counter fit in addition to the cybersecurity issue. tracy: we would lose that too, rich. >> didn't say we were going to lose them. they're the same size. david: exactly. >> just put it in my foreahead. >> might come to that. tracy: have a great weekend, sir. >> you too. ashley: set off metal detectors. coming up selling houses using pictures taken from drones. it is not a science fiction movie. it is happening. sound like a good idea for realtors. but privacy advocates and neighbors are outraged. liz: is all over the story next. tracy: as we head out to break the dow is coming back a little. only down 84. look at some of the winners and losers on the s&p 500. gamestop up almost 4%. somebody is still buying games. we'll be right back. [ larry ] younow throughout history, folks have suffered from frequeuent heartburn but now, thanks to treating with prilosec otc, we don't have to suffer like they used to. [ bell dings ] ♪ [ horse whinnies ] getting heartburn and then treating day after day is a thing of the past. block t acid with prilosec otc, and don't get heartburur in the first place. we've surcome a long way. ♪ [ le announcer ] one pill each morning. 24 hour zero heartburn. ashley: just off of 90 minutes of the close. nicole petallides. nicole: some good news for people hoping this market jumped up. right now we are holding that 15,000 mark. look here. restoration hardware. they jumped up 18 and a quarter percent today. as a result, you are seeing a big move there. a stellar performer here today. year to date, up 7%. a great performer for that year. ashley: thank you very much. today's close of 1.% higher. it marks the third straight day of gains for crude. tracy: what is that up in the sky flying over my listing? realtors are using drones. they have to be breaking the law. are they? liz: that is a great question these panoramic views of homess3 they are trying to market and sell. these drones can come within 40 feet of your listing. you can see tracy gardening or ashley walking the dog. [ laughter ] this is a shot of a house. the gray area is this. there are new rules from the faa. the faa governs this. by september 2015, they will have new laws that say yes. right now, there is a no-fly zone. they are not allowed to go under 400 feet. what happened was we now have 18 saying, wait a second. we may restrict the commercial use of drones. right now, they are using them and they are using them in a number of places across the country. they are inspired by the bp oil spill. they thought, hey, this is a great idea. interesting stuff. they will get a slap on the wrist. again, you are looking at the future now. ashley: this is up above looking down on you. liz: it makes you feel like, hey, i rather live in an apartment then have a drone and a kitchen window. ashley: it is crazy. interesting stuff. tracy: thank you. ashley: while the u.s. economic recovery looks good from a housing standpoint, it is worried. brand-new report out today. federal budget cuts are coming too fast in slowing the pace of the recovery. liz claman sat down with an exclusive interview with him as director, christine lagarde. liz: it is those cuts that have christine lagarde worried that in the second half of 2013, we may see the recovery stumble. here in the u.s., it lately seems like we made it through the sunquest or worries. here is why she is concerned. she tells us in a fox business exclusive. >> i think a lot of people think it was ill designed. it was put in place to precisely be avoided. there is no need to contract by 2.5%. it is very heavy on growth. specifically if it picks up in the second quarter 2013. we are also saying hurry up. there are long-term measures that will be critical for the u.s. economy that need to be taken now. particularly concerning anti-government. liz: it is the way that we engineered those cuts that she did not like. they may really cause us to stumble a bit at the end of 2013. ashley: in the past, very upfront about how important it is to cut the deficit. what does he think we should be trimming? liz: i did ask her specifically. she said that health care spending is really going to hit public finances. she feels we are on a sustainable path. this is not that we have not heard from a lot of lawmakers that refuse to do anything about it. we will see a better economy. it is the long-term outlook of very high health care costs and very high social security funds. that is the problem she feels really need to be addresssd. that is something we all know and understand. ashley: very good. we appreciate it. what do you have coming up to mark. liz: lagarde goes into details about the one area of the globe that might drag on he economy. she also talks about theemistake that the imf has learned the most from in the past couple years. ashley: thank you very much. liz claman down in washington, d.c. tracy: coming up. it is a bird. it is a plane. no, it is the man of steel. ashley: i thought you were going to say drone. ashley: "the man of steel" making it to the box office this weekend. will it live up to its expectations? let's take a look at the ten and 20 year treasuries. we will be right back. ♪ we went out and asked people a simple question: how old is the oldest person u've known? weave people a sticker and had them show . we learned a lot of us have known someone w's lived well into their 9. and that's a great thi. but even though we're living longer, one thing that hasn't changed much is the official timent age. ♪ the question is how do you make sure you have the money you need to eoy all of these years. ♪ ♪ >> i am juggling cant wit your fox business brief. stocks are down today. more long people are giving up on their credit cards. a new report shows 16% of americans between 18 and 29 years old live without credit cards. after already default date on some of its debt, they are calling for a shared sacrifice among the cities creditors. kevin or is proposing the displaced creditors forgive some of the nearly $17 billion they are owed. that is the latest from the fox business network. giving you the power to prosper. ♪ ashley: the man of steel from warner bros. theaters today on 42 screens. dennis kneale, our very own man of steel with us here now. dennis: can the man of steel come even close to the biggest hit of the summer? man of steel costs $225 million to make. this is not a sequel. it is a total reboot. if you adjust for inffation, the very first superman film fard far better than any of thefilms. the sequel did just over 300 million. the third one came in at half of that in the fourth when did only 30 million. disney's "the avengers" last year grossed $1.3 billion. all of them separate film franchises in their own right. now, warner hopes for an avengers of their own. that one would * superman, batman, wonder woman, the flash% and the green lantern. dark knight rises, the third film in the batman trilogy it was marred by the shooting in colorado. it still made it past the superman has always been the beatles of sir heroes. this chris nolan, he will make superman darker and more kind of interesting. tracy: every kid wants to be superman for halloween. why would you go and ruin not? dennis: superman's new costume is pretty good. i want to start wearing those killed in abs under my suit. tracy: dennis kneale. ashley: thank you very much. a quarter till the hour. time for stocks as we do every 15 minutes. i thought we were supposed to see a pullback in may. are we seeing that now into june ? the market has been somewhat choppy since the end of may. the european season has now dropped for four straight weeks. emerging markets are down. very little overall selling pressure. it is tough to have two days in a row going any one direction. we are down a little bit today. nowhere near the volatility we have seen the last few days. you know, they are still set to closs down three out of the last four weeks. technically speaking, the trend is choppy. all eyes are on the fed next week. you want to get some sort of clarification on the fed. that is really what is on peoples minds. that uncertainty weighs on the industries. speed thank you so much for joining us. >> my pleasure. tracy: nervous trading on wall street. jared leavy. has pics to keep you call. ashley: let's take a look at some of today's winners and losers on the nasdaq. the dow is still down 85 points. we will be right back. ♪ but your erectile dysfunction - itld be a question of bloodlow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you cabe more confident in your ability to be rey. and the same cialis is the only daily ed tablet approved to treat ed and mptoms of bph like needing to go frequely or urgently. tell your doctor about like needing to go frequely or urgently. all your medal conditions d medications, and ask if your heart is healthy enough for sexual acvity. do not take cial if you take nitrates for chest pain, as this may cause unsafe drop in blood pressure. do not drink alcohol in excs with cias. side effec may include headache, upset stomach, delayed backache or muscle ache. to avoid long-term injury, seek immedte medical hel for an erection lastingmore. if you have any sudden decrease or ls in hearing or vision, or if you have any allergic reactions such as rash, hives, swellingf the lips, tongue or throat, or difficulty breathing or swallowing, stop taking cialis and get medical help right away. ask your doctor about cialis for dailyse and a -tablet free trial. ♪ tracy: two major averages are on track to end this week in the red. jared leavy is here with us now. why is everybody so freaked out about this? even if they do pull back a little bit, we will still have a ton of money in this market. just be happy; right? we cannot model the change in crowds. in other words, you cannot figure out what is going on in the minds of investors. there has not been a lot of negative surprises. there have not been a lot of positive surprises. they are modeling out in their own mind what is happening down the road. remember, mortgage rates have jumped 20%. people are getting a little fearful. stocks are still okay to buy here. i am buying on the dips. i do think the longer term for the stock market is okay. volatility will exist. about 1.1 is what the options markets are predicting over the next month or so. tracy: that is actually pretty scary for a lot of people. on the flipside, though, lots of buying opportunities. >> yeah, there is. you cannot get caught up in a lot of the news. unfortunately, we are involved in the media. for the average person, that throws them off. focus on your goal. if your goal is long-term, it used these tips to buy. tracy: before we get to your pics, you mentioned earning season. people will come out a little disappointed. >> oh. again, the longer-term picture is good for the market. we have earning season starting in a couple of weeks. we were supposed to have that 10% growth last year. a lot of analysts have kept there by recommendations out there. i think what we will see his companies reducing those growth as the mets. beginning to really warn about the fact that they will not have that big growth. i think that will present a buying opportunity. tracy: we just had a guess that says we will not see that until probably next year. let's get to your pics quickly. you are still in housing. blackrock to be is interesting after all that has been going on. >> blackrock is probably my least favorite, but the risk is nice. if you look at what blackrock does compared to their peers, i think it is positioned well. you look at its growth and its backlog and it looks the best out of all of them. the stock price is the cheapest on an evaluation process. last but not least is aqua my. it is the one delivering that information. i think all three of them are due for a nice surprise when they report earnings in july. tracy: this is awesome. you have a great weekend. thank you, sir. >> thank you, tracy. ashley: celebrity chef is being accused of selling content wine. they say when they try to have it insured, the consultant told them it was counterfeit. now thh collectors are suing for $75,000 in damages. tracy: he closes his big famous restaurant in chicago, auctions off his wine. counterfeit wine is a big thing these days. it is amazing that he can get away with this. ashley: people drinking it at his restaurant over these years have been paying for something that was not the real deal? tracy: you might be right. @cary stuff. "countdown to the closing bell" is next. do not go anywhere because liz claman is interview with christine lagarde. some really harsh words about the automatic budget cuts. that is all next. it is a fox business exclusive. do not go anywhere. ♪ when visa signature asked everybody what upgraded experiences rely mattered... you suggested luxury car service instd of "strength training with patrick willis." come on todd! flap them chick wings. [ grunts ] well, i travel a lot and umm... [ mal announcer ] at va signature, every upgredxperience comes from listening to our cardholders. visa signatur your idea of what a card should be. visa signatur join us at projectluna.comm ♪ >> the head of the international monetary fund on the imf print your report on the u.s. economy, including the good, bad, and potentially ugly and how the imf blundered when it came to agree to bailout. a fox business exclusive. no longer, black rock stock funds are going to change is. we'll break down. and the man of steel opens nationwide today. some moviegoers will be watching it on imax 3d, just like superman the stock has been flying high. will the movie made even more super returns for shareholders? we sit down with the president of imax and other fox business exclusive. a special edition of "countdown to the closing bell" live from washington d.c. starts right now. ♪ liz: good afternoon, everybody. i'm liz