. >>> new treasury secretary jack lew weighs in on the markets and the american economy. his interview just ahead. >>> and the tsa under fire. the growing backlash over knives on planes. what every traveler needs to know. good evening, everyone, and welcome to our public television viewers. suzy, the market beat goes on and on. >> it's like the energizer bunny. it just keeps going and going. the dow marches on higher for the tenth day in a row, the first time since 1997 -- 1996. it ended at 14,539. the nasdaq added 14 and the broader s&p 500 gained almost 9 points, and it's now just 2 points away from its own record high close. >>> there is some concern that the rise in the markets may have been too high too fast. and this could be the start of a market bubble. but newly installed treasury secretary jack lew tells steve liesman not so. >> the analysis i've seen doesn't give me reason to be worried right now. >> we'll have more of steve's interview with the treasury secretary in just a few minutes. >>> as the dow hits unprecedenteded heights and the s&p 500 nears its own p

new treasury secretary, jack lew, >>> welcome back. new treasury secretary, jack lew, headed to china next week for key meetings. but before that, he sat down with our own steve liesman. steve just wrapped up that interview and joins us now live from just outside atlanta. steve, over to you. >> maria, i began by asking jack lew whether or not equities were in a bubble. >> i think as treasury secretary, my practice will be the same as my predecessor's, not to comment on markets. i think there are things going on right now that, you know, just as a matter of a policy environment, are interesting. you know, towards the end of the year, there was a sense of imminent crisis. we're a little bit beyond imminent crisis. there seems to be -- we still have a lot of work to do, but there doesn't seem to be any push to create a crisis over the debt limit or over shutting down the government. i think that's helpful. we've had economic data come out for quite a while now, showing that we have a resilient economy, that's growing and we'd like it to g

more from treasury secretary jack lew. peter? >> that's right, david. all these budget negotiations will have an impact one way or the other, good or bad, on america's aaa credit rating, which, standard & poor's cut two years ago because of all these budget dysfunction. so i asked him if we will get it back? take a listen. >> i'm not going to comment on what ratings agencies might or might not do. >> why? >> what we have to focus on whether the economic challenges we face and why. we need to do a number of things. we need to take steps to have an economy where we're investing and creating jobs and improving the future for american workers. the truth of the matter is we know that we need to do entitlement reform and tax reform. we need it for competitiveness and we need to do it on bipartisan basis. time to do it and time to unleash the investment that i think will follow from a certainty that we have dealt with the challenge, that everyone knows we need to address. >> last question, play economist for me if you don't mind for one moment. the administrat

first, steve liesman going one on one with new treasury secretary jack lew. that's ahead, 4:15 eastern time. and former fdic chairman shelia bair will react to the federal reserve's decision on whether to improve the plans by the big banks to raise dividends, buy back stock, we're going to get the capital plans, coming up. you're watching the "closing bell" on cnbc. >> buckle up! >> buckle up, bill! [ male announcer ] the lexus command performance sales event has begun. ♪ featuring the powerful gs. ♪ just when you thought you had experienced performance a new ride comes along and changes everything. ♪ get great values on your favorite lexus models during the command performance sales event. this is the pursuit of perfection. a talking car. but i'll tell you what impresses me. a talking train. this ge locomotive can tell you exactly where it is, what it's carrying, while using less fuel. delivering whatever the world needs, when it needs it. ♪ after all, what's the point of talking if you don't have something important to say? ♪ and his new boss told

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. >>> treasury secretary jack lew visited a siemens plant highlighting the importance of infrastructure and manufacturing and creating new jobs. steve liesman spoke with lew about his role at treasury, the budget negotiations in washington and the challenges the u.s. economy still faces. >> reporter: treasury secretary jack lew in some of his comments in the new position, talking about the value of the dollar, the budget deficit and the economy. i began my interview with him by asking whether or not equities which have seen new highs are in what he would consider to be a bubble. >> the analysis i've seen doesn't give me reason to be worried right now. i think one of the lessons we learned from 2008/2009 is that even when things are not a problem, we always have to ask those questions. we need to make sure that we have the transparency to see what's going on. in firms and markets. we need to have the regulatory tools to deal with problems as they develop. that doesn't mean we should jump in when we don't see a problem. >> every treasury secretary serves at the pleasure of the president.

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the treasury secretary jack lew was in china. one of the discussions he's having over there, china is behind some of this. >> china is a rogue nation on this stuff. >> what's that? >> china is a rogue nation. >> they're also a big emerging economy and they have a stake in not having this. >> they're operating by robber barron rules. >> there's room for agreement between the u.s. and china. >> jack lew's obama's treasury secretary just completed a two- day china trip in which he warned the chinese about cyber attacks. china's new premier listened but refused to acknowledge the chinese government's role in rehearsing cyber sabotage. >> john, this is where you have to retaliate. we go over there and plead with these guys. they're operating by robber barron rules. they manipulate their currency, they do all kinds of rogue state things in commerce. you have to hit them with some sanctions. >> right. and to reinforce what you said, given that the new president has endorsed china's goal of military supremacy over the united states, it i

treasury secretary jack lew on a critical mission to china. earlier today he met with china's new president to talk cybersecurity and more. peter barnes in washington with details. hey, peter. >> tracy, that's right. cybersecurity is at the top of the agenda the new treasury secretary around the new president of china. just last month the private security firm mandy apt, tied the chinese military to cyber attacks on more than 140 u.s. companies. analysts describe the meetings in beijing as a get acquainted session that will set the table for future negotiations on this and other issues. a treasury official saying quote, it was a warm and wide-ranging discussion but secretary lou was candid and direct in his comments! experts say china risks a backlash if it doesn't stop hacking.% >> it is the american business community is killed by cyber espionage from china. they're the ones that are supposed to be the voices of reason. you take the business community support away from the bilateral relationship you have a lot more possibility for problems.

>> when jack lew and president obama said, we didn't want the sequester that jack lew and president obama were being misleading. they may have been dishonest. if woodward stopped there, it would have been great. making it sound like he was threatened and even the goal post saying he went too far. he should have stopped after he did his part of reporting. >> he didn't say he was threatened. i think it was the clear implication but bob woodward reporting on administrations for four decades be intimidated by one angry phone call and an e-mail? >> it sounds like he blew this out of proportion. one particular publication that reported this happened and then debunked it like three days later. and by really saying, it rhymes with molitico and there was a little bit of that going on and other publications, of course, were jumping into it. i think he had help blowing this out of proportion. >> the right wing also jumped in. the right wing media saying look what the obama administration is doing. they back pedaled. oh, bob, what did you do? >> i did snarky tweets until the full e-mail came out and

. >>> jack lew make his first appearance as treasury secretary today. he'll highlight the importance of investing in infrastructure, manufacturing and job creation. steve liesman will be travel, jack lew and we'll have a one-on-one interview with the new treasury secretary today at 4:00 p.m. on closing bell. >>> samsung will launch the latest model of its galaxy smartphone tonight in new york at 7:30 p.m. eastern. the hype is growing for the galaxy 4 with reports suggesting an eye-controlled screen. apple isn't taking the samsung launch lying down. it's believed rival devices are inferior to the iphone. joining us now, david garrity from new york. david, we're just, wa, a little more than 12 hours away from samsung's launch tonight. do they have to come out with this i controlled screen here, do you think, to justify all the hype? >> no, not necessarily the icontrolled screen, although that will probably be a nice of technological innovation from the company which is being seen as a user for other people's technology. for samsung, using other people' te

attacks at the fore front adds jack lew talks to the chinese president. we talk to the palo alto ceo on profiting from protection. cypress worries continues to hit u.s. investors today, but is the correction an opportunity to load up your portfolio? dan chung tells you why you should run with the bulls. the ceos of two major airline make a case to dc to merge, can the airlines make your portfolio soar? one says the fundmentals point to yes. "countdown to the closing bell" starts right now. ♪ cheryl: i'm cheryl cheryl in for liz claman, the last hour of trading, and the markets are trying to make a comeback in this final 60 minutes. after cypress rejects the tax on bank deposits, at its high, get this, the dow up more than 62 points today before making a 132-point swing to the downside. there's the dow. right now, down 24 points, a lot can happen in the last hour. a lot has happened during this session today. taking a look at the s&p. the s&p is moving further away from that record closing high, trying to get there, can't get there. the dow and s&p at th

>> let's talk about jack lew's trip to china. i'm interested in how he brings up some of these sensitive issues. so on cyber hacking, for example, what is it exactly that you say to the chinese, given that their position so far is that we have nothing to do with it? >> good question. the real purpose for this trip is what they feedback to the people here and is to china. the u.s. has got to look tough. so we have to look like we want an answer. the chinese has to look like we're a peer of the u.s. now, we don't have to be bullied around. the cyber security is one of those issues that will give that opportunity to talk about. and the chinese really have nothing productive to say officially about that. it's very clear that hackers in china is a very big deal. to what extent, it's official and military involvement, nobody really knows. but i think they're going to spend most of their time talking about economic and trade, currency issues rather than security issues in any case. >> on the very tough issues on things like cyber securi

gordon chang will call this trip jack lew's trip his first big mistake. tracy: sounds like a movie, doesn't it. time for check stocks on the floor of the he is change. nicole, both your parents were born in cyprus? >> both my parents were born in cyprus. my mom in the north which is beautiful though i have never been and my father in another part. so it is a beautiful island. it is great. but obviously the people in cyprus are up in arms about the idea they may put a tax on bank deposits, a place where you think your money is safe and you're finding maybe not so safe. the decision is tomorrow. the banks are closed until thursday. meantime we've seen a very strong dollar. a euro that is certainly has pulled back to four-month lows. we're watching the market coming under pressure. we'll look at some of the banks here on the heels of what we're hearing over in cyprus. you can see the banking index has been to the downside all day. the banks abroad also been lower. national bank of greece at a 52-week low. citigroup down 3.2%. bring it home here, morgan stanl

look, any time you have someone like jack lew, for all of his smarts, is regarded as a partisan. when they say we have to do hard things, that's a good moment. i mean, it's a good thing that at least he's making the basic recognition there's a job to do that entitlements are the problem. the -- i think the remaining question is what are they going to do? give us the specifics, tell us what the hard things are. it's not enough to say we have to do hard things. we know that. we've known that for years. what specifically, what hard things are you willing to do? i think if he -- if they make an initial offer, you can have additional interest from republicans, but until they do, and i'm skeptical they will, republicans are just not going to buy in here. gerri: well, sounds like rhetoric and that's it. steve, thanks for coming on tonight. great to have you on the show. thank you so much. >> any thyme, thanks. gerri: meanwhile, microsoft co-founder, bill gates, is bashing the federal government. he says he would never run a business the way they are running washington. the philanthropis

jack lew is treasury secretary although that's potentially seen as lip service. the dollar/yen, given up 0.1%. the euro is a little firmer on the day. given that we've seen the yen improving a little bit, what impact does that have for us? hi, sixuan. >> thank you, kelly. asian markets lost a bit of momentum in the afternoon session to end the week on a mixed note. samsung electronics, the technology giant finally took the wraps off a much anticipated galaxy s4, but might have failed to impress markets especially after weeks of speculation over its new features. investors took profit on that stock tumbling 2.6% today. the nikkei, however, managed to close above the 12,500 level while many expect the boj now with deflation governor kuroda to roll out aggressive guidelines in the next meeting. sonny closed at an 11-month high after a ratings upgrade. the in china, the shanghai composite gave back some of its early gains over 1% ending higher by a modest 0.4% after no fresh policy catalyst to lift sentiment. banking shares outperformed on bargain hunting and boosted

. >>> new treasury secretary jack lew weighs in on the markets and the american economy. his interview just ahead. >>> and the tsa under fire. the growing backlash over knives on planes. what every traveler needs to know. good evening, everyone, and welcome to our public television viewers. suzy, the market beat goes on and on. >> it's like the energizer bunny. it just keeps going and going. the dow marches on higher for the tenth day in a row, the first time since 1997 -- 1996. it ended at 14,539. the nasdaq added 14 and the broader s&p 500 gained almost 9 points, and it's now just 2 points away from its own record high close. >>> there is some concern that the rise in the markets may have been too high too fast. and this could be the start of a market bubble. but newly installed treasury secretary jack lew tells steve liesman not so. >> the analysis i've seen doesn't give me reason to be worried right now. >> we'll have more of steve's interview with the treasury secretary in just a few minutes. >>> as the dow hits unprecedenteded heights and the s&p 500 nears its own p

people are floating i floating n cypress, and i'm sure jack lew -- >> neil: big depositors get a stake in the new entity just like they did here. how will that pan out? >> easier said than done. when you do it here, you've got guys like the former treasury secretary doing it. tim geithner has been around the block a few times. ben bernanke. you know, the european economic leadership when you get out of germany is very thin, let's say. they don't have -- >> neil: do you think that could happen here? of course, in the '80s and '90s with the s and l fiascoes and scandals, it happened when fdr came in for a brief time. there's precedent, but what do you think? >> in 2008 it almost happened. i mean, i remember covering the financial crisis every day, and i remember when they did the first round of bailouts, they had to go back and bail out city group again because guess why? people were pulling money out the of bank. there was a run on citigroup at the time. it can happen. why does it happen? it happens when people lose faith in the country and they panic. when you print more money, that's

jack lew going to europe. that is a huge red flag to me. liz: the euro. you say that it will continue, and in your words, to evaporate. the same with the yen. you want to go with what the market is doing. obvious, obvious. what is less obvious? was released favors currency right now? >> least favorite would have to be probably the end of the euro. i learned all of this technical trading on the floor of the exchanges in chicago. as a toddler to trade. use technical analysis much like we used in the voice of the exchanges, and those trends are pretty well set, particularly with the end. which is it going to work. liz: the british pound. i guess we're all pretty obvious. what about the pound? >> are talking about my own home country. embraced by birth. i just became a u.s. citizen. and actually, i am afraid to say that the british pound does not look good. actually, we see it going down to probably the 140 level from where we are, so it does not look good technically and that has been just an evaporation in gains. liz: okay. you like the canadian dollar in t

david: peter asks tough questions and jack lew is thankful to give us his time tomorrow. liz: trip advisor, listen to this, 100 million reviews and opinions and is adding an average of one new posting every single minute. coming up the ceo tells us how this traffic results in ad dollars and profits. david: meanwhile retail numbers looked shockingly good when they were released this morning, when you take out the hike in gasoline the numbers got a little soft. are consumers out shopping more or not? the answer could affect retail stocks in a big way. the answers coming next. ♪ girl vo: i'm pretty conservative. very logical thinker. (laughs) i'm telling you right now, the girl back at home would absolutely not have taken a zip line in the jungle. (screams) i'm reallylad that girl stayed at home. vo: expedia helps 30 million travelers a month find what they're looking for. one traveler at a time. expedia. find yours. but with advair, i'm breathing better. so now i can be in the scene. advair is clinically proven to help significantly improve lung function. unlike most copd

senate has confirmed the appointment of jack lew as u.s. secretary of treasury -- as treasury secretary. he will be sworn in later today. >> police in australia have made a record seizure of the drug methamphetamine. they discovered almost 600 kilograms of the drugs hidden in a chemical shipment from china. the estimated read value is 350 million -- street value is 350 million euros. three arrests have been made. >> bayern munich fans are celebrating their team's victory. it was a long time coming. emmy bayern's second win over dortmund in the past three years -- only iron -- bayern's second win over dortmund in the past three years. >> bayern's top dogs could not have been more pleased. >> we played some perfect football. it does not get any better. >> a year and were the better team from the outset -- bayern were the better team from the outset. there was a score in the 43rd minute. the game's only goal. >> we just wanted to win. we wanted to show everyone what good form we are in. i think that is what we did. >> dortmund seemed to wake u

treasury secretary jack lew to say the japanese are not aiming to weaken the yen. >> translator: i explained that we're not engaged in a currency war. that our main goal is to get out of our deflationary slump. i made it clear that the yen's depreciation is just a by-product. >> aso said he and lew also discussed the global economy. he said they agreed to work closely together to ensure stable growth. >>> people in northeastern japan have spent nearly two years trying to get back on their feet. next monday marks the second anniversary of the earthquake, tsunami and nuclear disaster. or nuclear accident. the march 11th disaster left nearly 19,000 people dead or missing. survivors have been moving forward on a path to recovery. almost all of the 120,000 companies in areas devastated by the tsunami were small and medium-sized firms. many were already feeling the weight of their loans after a long economic slump. and they had to decide whether to take on additional debt to restart operations. government officials say only 2/3 of those companies are back in business. people in the city of kesennu

i am curious your conversations with the new treasury secretary jack lew. do you have any indications from him as to take this new post what he's thinking of the likelihood of tax reform? i am curious his thoughts on the way multinational companies should pay taxes. should we keep our worldwide system? what are you hearing from the administration on this? >> it is just beginning. he has spelled out exactly where they're coming from. people may shut down their televisions for a second if they hear too much. it is an important issue. what do you do about profits of corporations doing business overseas. today we tax them but we differ the taxation. now to say if you go over territorial system if you will not tax them at all or very little, the problem is that it might encourage corporations to move their operations overseas. all these proposals for a territorial system, tried to have some provisions to discourage companies from moving overseas. it is a good example of balance. there is no one role won worldwide. need to encourage companies to do business in th

. >> reporter: congress did get things done ending with a season of purgatory with jack lew and chuck hagel. meanwhile, the winds of change blew a texas-sized nightmare into this house. covering it from top to bottom, in tumbleweeds. over in kansas, a midwest whiteout. other cringe worthy moments, the sixth annual sword swallowing day. >> and easier to stomach, a few laughs over one company's miss fortunes. >> the university of phoenix could lose its license because of questionable billing policies. >> which makes sense when you find out they got their degree from the university of phoenix. >> one billionaire is building titanic 2. he says this won't sink. he has bigger plans and send one lucky couple on a round to mars. pope benedict xvi said a public farewell, private farewell and almost final so long before heading off into retirement. but wait. there's going to be two popes? >> it's going to be chaos. you can't have one vatican with two popes. it's like gotham with multiple batmans. you shine the bat signal all these clowns show up. >> so you think he will be forgotten by monday?

she would be taking over for jack lew who was just named treasury secretary. >>> when elizabeth ii is in a london hospital this morning after being admitted for a stomach infection. we have an update on the queen's condition. >> reporter: buckingham palace puts a very positive spin on the queen's admission into that hospital yesterday for what officials are calling a precautionary measure to treat a boug bout of a stomach bug. she's in good spirits, though those who know her are probably feeling a bit annoyed by all of the fuss. this is uncharted territory for the queen, she maintains a extreme schedule of daily events. she hasn't been in the hospital for ten years. it's a measure of the esteem that many brits hold for their queen. many were stunned when they learned that she would be cancelling all of her appointments for the next week. a secondary infections are fairly common. it's easily treated by antibiotics. this morning, she'll be staying for another two days. we'll be watching that carefully. the nation is still holding its breath. >> all right, jim, we appreciate the update.

treasury secretary jack lew hitting the ground running in his new role, touring a siemens factory in georgia today. secretary lew will be making his first international trip next week with a visit to china where he'll meet with the nation's new leadership and senior economic officials. stay tuned to "after the bell" today when our own peter barnes has a one-on-one interview with the treasury secretary. and samsung is set to unveil its newest smartphone, the galaxy s4. the device is widely expected to feature a 13 megapixel camera, and some analysts predict it could top ten million unit sales in the first month after its lawn after alone. that's the latest from the fox business network, giving you the power to prosper. ashley: u.s. natural gas futures hitting a three and a half month high after government data showed inventories fell more than expected last week, so futures are up more than 10% so far this year. so can this rally keep going? kevin book, managing director of resource at clear view energy partners. kevin, thanks for being here. are we going to see these prices continue

what about treasury secretary jack lew's trip to china? what do you expect will come out of that? what are you watching for as a trader? > > it is a nice visit, but i think that is very basic what is, an introduction visit, and i don't think there is anything whatsoever that is going to come out of it. as a matter of fact, the chinese, the pboc has actually lowered the reference rate for the rmb, or yuan. that is mainly due to the fact that the yuan has depreciated verses the dollar over 20% since several months ago. so that basically makes china's exports a little less competitive. so i think that is the driving force behind what they're doing, but it is probably counter to what mr. lew wants them to do. so, to answer your question, i don't think his visit is anything more than a cordial hello, but it will have zero effect on any policy changes now. > thanks for those insights. that is tim mulholland of china america capital. stick around for tomorrow's show. it's a movies and money day with our critic talking about the wild success of "oz, the great and powerful," and what it me

here is what jack lew had to say. >> i can tell you there has been no change in policy. we have very high standards offer tech in policy. we are going to continue to protect americans as we go through the process as we have to protect them against terrorist threats. connell: adding to all of this, microsoft executive, bill gates summit adding to all of this. you have to really look at what we value feedback system has and the cyber world today has a lot more investment to make to have the right resiliency. we need to do more, says mr. gates. we have been following this throughout our coverage. all the stocks are moving lower. dagen: colorado's marijuana tax bores issuing recommendations this week. voters approved this measure back in november. we have a former dea administrator and member of the amendment this 64 task force with us. the world you are laying out, is it really to keep the federal, the fed away from the state and keep the dea from and forcing the and federal drug law? >> thank you for having me, first. the primary goal of what we are doing is to allow adult

. >> congress did get a few things done, ending a season in purgatory for obama cabinet picks jack lew and chuck hagel. mean while, the winds of change blue a text-sized nightmare into this house covering it from top to bottom in tumble weeds. over in kansas, a midwest whiteout. other cringe worthy moments, the sixth annual sword swallowing day. and a little easier to stomach, a few laughs over one company's misfortune. >> the university of phoenix could lose its license because of questionable billing policies. which makes sense when you find out they got their accounting degrow from the university of phoenix. >> one billionaire is building titanic two. he says this one won't sink. while this wealthy fellow has even bigger plans. and one lucky couple on a round-trip to mars. and pope benedict xvi said a farewell, then his private farewell, then an almost so long before heading into retirement. but wait, there's going to be two popes? >> you can't have one vatican with two popes. it's like gotham with multiple batmans. you shine the bat signal, all these clowns show up. >> all right. c

jack lew arrives in china today as he starts his first international trip as treasury secretary. lew will meet with officials in new president jinping's administration and reportedly press them to crack down on cyber attacks aimed at the u.s. he is also expected to lobby about the value of china's currency. during his trip, lew will no doubt continue to keep a close eye on the situation in cyprus. the treasury department issued a statement saying lew has been speaking with his european counterparts. ratings agencies are facing harsh criticism in europe. a watchdog group revealed this week that ratings agencies have "shortcomings." those agencies, including fitch, standard & poors and moodys, have all been asked to provide more details on how ratings are calculated. the industry has faced pushback since risky ratings hurt investors during the financial crisis. president obama is nominating thomas perez as his next secretary of labor. "he helped pay his way through college as a garbage collector and working at a warehouse, he went on to become the first lawyer in his family, so his

. >>> new treasury secretary jack lew weighs in on the markets and the american economy. his interview just ahead. >>> and the tsa under fire. the growing backlash over knives on planes. what every traveler needs to know. good evening, everyone, and welcome to our public television viewers. suzy, the market beat goes on and on. >> it's like the energizer bunny. it just keeps going and going. the dow marches on higher for the tenth day in a row, the first time since 1997 -- 1996. it ended at 14,539. the nasdaq added 14 and the broader s&p 500 gained almost 9 points, and it's now just 2 points away from its own record high close. >>> there is some concern that the rise in the markets may have been too high too fast. and this could be the start of a market bubble. but newly installed treasury secretary jack lew tells steve liesman not so. >> the analysis i've seen doesn't give me reason to be worried right now. >> we'll have more of steve's interview with the treasury secretary in just a few minutes. >>> as the dow hits unprecedenteded heights and the s&p 500 nears its own p

i want to welcome jack lew, former chief of staff, now secretary of the treasury. we're thrilled to have him in that position. i want to welcome mr. chuck hagel to position of secretary of defense and to all of you, i appreciate everything that you've done. obviously, we're going to be spending some time talking about potential impact of the sequester on all the agencies and missions across the board. it is an area of deep concern. i think everybody knows where i stand on this issue. we are going to manage it as best we can to try to minimize the impacts on american families, but it's not the right way for us to go about deficit reduction. it makes sense for us to take a balanced approach that takes a long view and doesn't reduce our commitment to things like education and basic research that will help us grow over the long-term, so i will continue to seek out partners on the other side of the aisle so that we can create the kind of balanced approach. spending cuts, revenue, entitlement reform, that everybody knows is the right way to do things. in the meantime, we

meantime, coming up next, does treasury secretary jack lew think a stronger dollar is what is best for america? we have details from steve le e liesman's interview. >>> and trader bk. much more "fast" straight ahead. [ male announcer ] with citibank it's easy for jay to deposit checks from anywhere. [ wind howling ] easier than actually going to the bank. mobile check deposit. easier banking. standard at citibank. makes it easy for anne to manage her finances when she's on the go. even when she's not going anywhere. citibank for ipad. easier banking. standard at citibank. >>> welcome back to >>> welcome back to "fast money." the s&p 500 may be just two points away from its record closing high, but one trader says this rally may be derailed. let's good to bk. no surprise, bk, you're the bear on this thing. >> it's at the cleaners, being dusted off i'm not quite ready to be sharp short in this market. here is my working hypothesis. we're at the end of a speculative phase here. a speculative phase in markets tend to get disconnected from fundamentals. and if you look at -- i look at pmi.

and that was in the hearing of jack lew to become secretary of the treasury and the answer over and over again, revenue, revenue, revenue, how do we get more tax revenue. >> kim, i'm interested in the washington post. what's in the break in the ranks of the pro-obama sentiment in the media, is it not. >> what you saw was simple reporting of what everybody knew was to be the case, since the state of the union the president put out this very left of center agenda on taxes and on guns and on climate change. and what was he actually doing? well, now we know in that the goal here is not to actually pass any of this stuff. the goal is to tee up issues that-- and blame republicans when they don't pass and use that to do what dan says, somewhat unprecedented effort to pick up these and use his last two years to push forward unobstructed, total ownership of washington with the began the way he did the first two years in office. >> and dan, the scare tactics just didn't work, particularly when you saw the spending at the same time he's talking about furloughing american workers and stopping white

treasury secretary jack lew meanwhile says he doesn't think the markets are in a bubble right now, and that the economy is recovering. >> we still have a lot of work to do. but there doesn't seem to be any push to create a crisis over the debt limit or over shutting down the government. i think that's helpful. we've had economic data come out for quite a while now showing that we have a resilient economy that is growing. >> retail sales were growing. they came in better than expected for the month of february, rising 1.1%, the best numbers since september. analysts were concerned about the impact of gasoline prices and the increase in the payroll tax for us, but consumers are still spending money. important because that makes up about 70% of america's economic growth. and if you're looking for something new to buy, samsung will be happy to oblige. introducing its new galaxy 4 smartphone this week. the phone features a five-inch screen, a larger battery and a screen you don't have to touch, but just hover your fingers over. samsung is apple's main competition in the smartphone market. >

treasury secretary jack lew is quickly moving into his new position. he's scheduled to meet with china's new leaderhip in bejing next week. while there, he plans to fight the weak chinese yuan, which hurts american manufacturers. yesterday, in his first trip since taking office, lew traveled to a siemens manufacturing plant in georgia, where he talked about the importance of innovation and job creation to strengthen the middle class. "when we talk about advanced manufacturing jobs in america, there is a bright future. there is truly the possibility of an american manufacturing renissance. we have some responsibility in terms of infrastructure but also in terms of reforming our tax code." lew also talked about reducing the deficit in a balanced way while meeting with local business leaders in atlanta. after only two days on the job, pope francis is proving to be a "pope of the people." the pontiff performed his first mass inside the sistine chapel yesterday, with an off-the-cuff homily about the need for compassion - that's after giving up his limo to t

we'll also hear from treasury secretary jack lew in his first on the job interview. and samsung expected to unveil its new galaxy 4 phone. that is all tomorrow. >>> well, spring officially begins one week from today. the heart of the real estate spring selling season and a chance for many of us to plan some home repairs and lawn cleanups. the nation's largest do-it-yourself chain, home depot, is getting ready too. brian sullivan takes us to the company's annual new product walk in las vegas to show us what companies are banking on this spring. >> the home improvement business is massive, with some estimates of how much consumers spent on their homes last year peaking as high as $300 billion. after years of sluggish growth, thanks in large part to a major housing downturn, that figure looks poised to go even higher. home improvement spending will increase by another 4% this year and an industry group projects spending will balloon to $345 billion over the next five. so what is driving all that growth? >> housing we think is getting better. you can see it in terms of h

sanders as a bill would give secretary treasury secretary jack lew ninety days to come up with a list of banks and insurance companies that he sees as too big to fail and within a year those institutions would have to break into smaller pieces for more on this i'm joined by our t.v. producer bob hi there bob hello so is this a sign that too big to fail may be on its way out on the way out i think too big to fail is just getting started more properly probably in the seventh inning stretch here what sanders is trying to do is notable and perhaps a bit commendable he's a guy that got the mini audit of the federal reserve a couple years ago along with ron paul but like you said what he's trying to do here is within ninety days designate some of these institutions as too big to fail well dodd frank already tried to do that and we're going on three years and we still haven't compiled the list thanks to you have to see in the federal reserve and some other agencies so the big banks are still getting a pass right now yeah well one senator in addition to mr sanders there that that has taken no

peter barnes is sitting down with newly minted treasury secretary jack lew. melissa: how important is the balanced budget. they offer to get us in ten years. president obama says it is not a top priority. that is coming up next. lori: the dial up about 11 points. let's see what their reaction is. the dollar is slightly stronger, but below that 130 strike against the euro. we are back after this. ♪ [ thunder crashes ] [ female announcer ] some people like to pretend a flood could never happen to them. and that their homeowners insurance protectshem. [ thunder crashes ] it doesn't. stop pretending. only flood insurance covers floods. ♪ visit floodsmart.gov/pretend to learn your risk. lori: the president set to meet with house republicans and just minutes. americans do not seem too impressed. 44% said president obama and the other said they trust republicans in congress. president obama held an 18 percentage point advantage over congressional republicans. now it is a far more even split. melissa: republicans offering up a budget proposal yesterday. without a

and coming up tomorrow, our very own peter burns sits down with jack lew for an exclusive interview. just a few weeks after taking the job. it all happens during after the bell tomorrow. right here on the fox business network. when we come back, taking a look at a new model that could make it easier for you to get along. and by four years of college and get one free. deals like this that universities are offering to get more students enrolled as prices go up. details are coming out. @@ >> announcer: you neveknow when, but thieves can steal your identity and turn your life upside down. >> hi. >> hi. you know, i can save you 15% todaif you open up a charge card account with us. >> you just read my mind. >> announcer: just one little piece of information and they can open bogus accounts, stealing your credit, your money d ruining your reputation. that's why you need lifelock to relentlessly protect what matters most... [beeping...] helping stop crooks before your identity is attacked. and now you can have the most comprehensive identity theft protection available today... lifelock u