opening bell on wall street only half an hour away. it looks like it's going to be another ugly day. yesterday, the dow closed down more than 400 points. world markets this hour taking a beating overnight. cnn correspondents covering the angles for us that are impacting your cash from new york to london to hong kong, washington to martha's vineyard. we are breaking it all down for you. take a look at the big picture now. christine romans is in new york. christine, you're actually calling it awful august. >> i know. it is awful august because you've got the dow down 9.5% for the month, more than a thousand points the dow has lost and yesterday's route wiped out any kind of advance we had seen the last week. it's an awful august because a lot has happened. we had the debt ceiling debacle news. even though you have job creation it's not enough to really assuage the fears and nerves of people out there who

do not feel like the unemployment situation is working well enough for them and their families and this coming together as we have a big deadline coming up for the super community to figure out how to get our debts and deficits in order. the rest of the world looking at us and worried how serious the u.s. is about political harmony. a lot of different fronts all moving at once. you add in europe and the sense of confidence, this lack of confidence around the world and that is what we are dealing with still this morning on a friday morning. kyra? >>. >> we are sitting back wondering where the heck are futures headed? alison kosik at the new york stock exchange. what do you think? >> reporter: we are 30 minutes from the opening bell and the thing -- their worse levels of the morning but we are still seeing another triple digit drop on the dow. all major averages right now down more than 1%. this is just more of the same. continuation of yesterday's sell-off. we have seen circling the globe

overnight. asia, europe, here, and then all the way around the bears made their trek. slow growth in the economy, a possible recession. yesterday, we heard morgan stanley come out and say the u.s. and europe are close to a recession. today, more news. deutsche bank cut its growth outlook for china and jpmorgan cut its outlook for the united states. remember, the u.s. and european countries and china are biggest economies in the world so a slow down or a recession in any of these regions we all feel it. we would all feel it globally. this is why we are seeing this kind of sell-off. check out how the dow has done so far this year. down 5% on the dow. analysts say you don't see any positive news coming in the near term. without any good news coming, expect more of this selling. expect more of this downward trend. >> we are all buckled in. alison, we will be talking a lot more in 27 minutes.

as she mentioned, while you were sleeping, markets in europe and asia, you know, have pretty much wallowed in the red, suffering big losses. lee oni is in london and watching the numbers for us overseas. >> absolutely. the markets are taking a pounding once again. as alison mentioned the global recession fears and in addition to that, the entire debt crisis that still is hanging over europe like a cloud. it just won't go away. when you speak to fund managers and traders, the thing that comes up again and again and again is their concern about the lack of direction from policymakers and that really is what is rattling their confidence. if we look at the markets at the moment here, you'll see red arrows across the board. ftse down nearly 2% and cac down 2% and dax upwards 3% and zurich down 3% as well. to put it into perspective the ftse lost nearly 13% this year. the other main indices lost 20%

just give you an example of how much investor confidence has been rattled this year. if we are seeing what is happening in the euro zone with the biggest economy stagnating at the moment it really is difficult to see how they are going to emerge from this. >> we will will be talking more. let's head to asia now where the markets are closed but the loss pretty darn deep. christy lou stout is in hong ko kong. >> there was a shock sell-off in asia. nikkei ended down 2.5%. nissan and sony and honda all deep into the red. here in hong kong, the hang seng ended down 3% on the day. different story in shanghai, the mainland. they ended down but just 1% lower. the reason why, the shanghai m composite attune to economic

global concerns. that being said big losses in australia the worst performary was in south korea with it down 6.2% this day. a lot of panic. a lot of fear out in there markets in asia on this day. president obama may be vacationing on martha's vineyard but i bet you he isn't that relaxed as he awaits the opening bell this morning. dan lothian is traveling with the president there in massachusetts. what a backdrop, dan. >> reporter: that's right. very nice backdrop here. but looking grim on the market as we saw yesterday. one thing the white house has stayed away from is commenting on the daily gyrations of the stock market. in fact, josh ernest saying during a gaggle with reporters yesterday at the white house that he was not going to speculate on the movement of the market. what they will talk about, though, is the fact that the president is focused very heavily on fixing the economy even while he is on vacation. in fact, one of his economic advisers will be coming to

martha's vineyard next week and we are told he will provide the president with regular updates and the president will be touched with senior members of his economic team in washington. as we know, the president is working on that speech that he will be making and the new ideas as the white house puts it that he'll be rolling out after labor day after returning to washington from martha's vineyard as ways to create new jobs. the president away from the white house but still very much on the job here. >> okay. dan, we will be paying close attention. as expected, the gop is already given the president plenty of flak for going on vacation while our portfolios are blowing up. deputy political director paul steinhauser has that side of the story. >> reporter: some of the republican presidential candidates are criticizing the president for taking a vacation. they are wanteding to oust him from the white house so you expect that. sarah palin thinking of running had critical comments yesterday and take a listen to mitt romney. >> the president this week is in

three states on a bus tour. campaigning. then he is going to be going on a vacation to martha's vineyard for ten days. a lot of democrats at martha's vineyard. i don't know why. but i wish the president were in washington calling back congress and dealing with the challenges we have. >> reporter: a lot of democrats at martha's vineyard is referring to former president clinton who did summers sometimes in martha's vineyard. mitt romney is the former governor of massachusetts and martha's vineyard is in massachusetts and he'll be there a week from now to raise campaign cash for his presidential bid. the republican national committee are having fun on this. they are asking or encouraging people to pick post cards from the president to take pot shots at the president and they are also using this as a way to fund-raise. there is politics involved here most definitely. >> hey, politics is what got us in this mess in the first place, paul. thanks. cnn's zain verjee is live in london with reaction from around

the world to the volatile markets here and overseas. zane, wh zain, what are the headlines saying? >> "the guardian" newspaper says this. fear of risk taking is hindering recovery. now it quotes bank of england official that says psychological scarring caused by the last financial crisis and a growing reluctance to take risks in the markets is creating pessimism and threatens to delay a recovery. check out "the international herald tribune" with this headline. the banks need cash. it says the european banking system is showing signs of a cash crunch but a lack of clear data may be exaggerating the gravity of the problem, sowing mistrust among banks and making them reluctant to lend to each other as well as businesses and consumers. underscores the point there are concerns what we are seeing is a hangover of the problems of the banking sector back in 2008. and that that has now been

transferred to the state sector and to governments holding big debt piles. >> zain, thanks so much. we will take your questions about the market and your money on twitter. i have a number of guests coming up in the next hour that want to answer your questions. so go ahead and tweet me at kyracnn or at "cnn newsroom." we have a number of gurus who will tackle all of your questions for you. 20 minutes until the opening bell. up next, jeffrey mccracken breaks down what he thinks is going on with the markets and what it might mean to all of you. a michigan driver pulls a fred flintstone while trying to stop his pickup truck. we go across the country next. [ waves crashing ] [ martin luther king jr. ] i still have a dream that one day on the red hills of georgia, the sons of former slaves and the sons of former slave owners will be able to sit down together at the table of brotherhood.

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checking stories across the country. police in southern california say they have arrested 60 suspects with ties to mexican drug gangs and iky social club. they raided guns and explosives and 500 thousand in cash and meth and marijuana. powerful storms and baseball-sized hail close the airport in omaha, nebraska last night. take a look what it did to the cars in the parking lots. fred flintstone type moved cover two and a half miles as the driver tried to stop his pickup truck with his feet because he had no brakes. we are just a few minutes away from the opening bell. last session of a pretty insane week for the markets.

we dip below 11,000 again yesterday and dow futures not looking so great this morning. jeffrey mccracken is a senior business writer with bloomberg news and "businessweek." wefg following wh wefg following what you have been writing about. what are you looking to today? >> i think what you want to see, it's obvious the market will open down this morning. so what you want to see is how far down does it go and where does it stop the decline. then you want to see what kind of cattle lifalysts to change t situation. it's a fear base emotional market right now, so one bad negative report from an economist which is what we had yesterday, morgan stanley downgrading its outlook for the u.s. economy brings fear and something comes along that changes the conversation and moves the market in a different direction. the markettumbling all day

yesterday. i think what you want to see today is is there going to be a data point a comment from an analyst? is there going to be court news that will stop the fall? because if you don't stop the fall, what happens is you finish on a down beat today with the u.s. stocks and sunday morning here in the united states or sunday night here in the united states, asian markets open and they go down. you get like newton's law of physics. it's objects in motion tend to go in motion and, here, it's negative markets tend to stay negative until something to have pur turns them back the other way. >> what is the catalyst for a bounceback? we have had that several times the last two weeks. >> my guess you'll see some economists and you're going to see investors come out the other side and say, listen, there is a lot of reason for apprehension and a look at of concern for concern but this is not 2008. i think you'll hear from whether from corporate economists or economists within the government here or in other governments. the fact is in 2008 the

corporate balance sheets were nowhere near as fortified as they are right now. corporate america sitting on $2 trillion in cash to weather a recession. >> that is my question. why aren't they taking the risk and investing? even with the profits they are still sitting back and worried and not taking risks as well. >> well, they are taking some risk. let's go back to hp yesterday saying they are spending $10 billion to buy autonomy out of the uk, a software economy. google bought motorola. you are seeing some corporations doing some things. which they are not doing in the past upswings and turnarounds out of a recession taken their cash and ramped up production and added plants and stores what have you but not doing that this time around. that is why we are not seeing the job growth we have seen in previous comebacks out of a recession. >> all right. jeffrey mccracken, we will be talking more the next couple of

hours appeal after we see the opening bell. we are are taking your money market questions on twitter. go to "cnn newsroom" and tell us what you want to know. jeffrey mccracken, a number of or experts and an lists will be here to answer your questions. less than 15 minutes away from the opening bell. we are watching to see, of course, how wall street is going to close out this wild week. we will try and see what our money team is expecting coming up right after the break. [ male announcer ] for sore muscles use new bengay cold therapy.

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minutes away from the opening bell.

if world markets are any indication, tgif. with things so volatile a lot of folks are confused about what to do right now. finance expert clyde anderson joining me live from new york. we talked, what, a week ago? >> yes. >> everything seems to be a blur of you saying multinationals is the way to go. have you changed your tune since yesterday? >> i have not changed my tune. i mean, we definitely got to find something safe but it was interesting. the jobs report came out and i think that is really a big issue and then the last segment you talked about corporations having about $2 trillion that they are sitting on but the key word is they are sitting on, not invest. nobody has a plan right now. so they don't want to hire or invest into prouk shen and that is hurting. the reality we don't have any jobs and people are hurting. >> it doesn't help that manufacturing is down, right? >> exactly. >> what needs to happen then to turn that around? >> i think that someone is looking for a plan. we need to have some sort of plan where the companies feel like they have someone behind

them and getting a sort of incentive they feel comfortable in reinvesting those dollars and reinvesting in people right now. we see how that indicator hurt the market because the numbers came out higher than expected. those are just the number of people on the books. we are not talking about the people falling out of the system, they just aren't receiving unemployment any more. it's bad out there, especially when you're looking at michigan or detroit has 31% unemployment. >> two questions for you. what is your advice to somebody then right now who is looking for a job? >> somebody right now looking for a job, i mean, the best advice is create a job. find something out there that you do well and to create it. and to find out how to tap into something else. because we see we can't put our faith right now in some of these corporations and so many people going to so little jobs. we have to do something different. i say don't stop the job hunt. you have to stand out and be digit and at the same time find another trem of income to bring money into the household.

>> i can't tell you how many conversations i've been a part of someone in the group sits back and says now is the time to invent something. now is the time to start some type of business of something that involves something that people really want. how do you even gauge that? how do you even begin that type of search? >> you have to figure out what do you do well or what do you do in your 9:00 to 5:00 job and help someone else or benefit someone else. you want to know what corporations are doing? they are reinvesting themselves. seen a lot of corporations are buying their own stock right now. we need to start reinvesting in ourselves from that standpoint. what is it i do well and what is the thing people are buying right now? definitely in down markets or recession times people still need services and i like multinational corporations because i say invest in things you buy and staples have been around and you know they are necessiti necessities. how do we tap into that market is what we need to figure out. >> clyde, i know you're taking viewers questions on what the heck we do now so tweet us at

kyra@cnn. clyde is standing by the next couple of hours. thanks so much. >> my pleasure. wall street less than ten minutes i way. looks like we are facing another bruising day. christine romans and alison kosik watching the premarket numbers now. alison, what do you think we will see at the open? >> reporter: likely to see a triple digit drop on the dow. it's more worries about a possible recession coming around and it's more of the fact that the economic reports that come out about the u.s. economy just aren't good. what wall street does is it looks to the economic reports for cues and it doesn't like what it's seeing. >> christine, what are traders saying to you? i know you've been on the phone all morning. >> yeah. >> with regard to what the market needs to hear in order for things to calm down. >> reporter: there is just a confidence trap here and that the real problem. you have stocks down because of concerns that the economy is slowing, that it's not doing as

well as you would like. and when stocks fall, then people and companies and banks get nervous again and they, in turn, get more, you know, defensive and that hurts the economy. so it's a vicious cycle. what does it take to snap that? it takes someone for some reason having confidence to start spending money again and as i was talking about, companies rech reaching out and hiring and investing again and expanding again. no one wants to do that. they are expecting asia to slow. that is a very big driver for things for global growth. looking at worries in europe. our biggest trading partner. saying now that could be another sore spot as those countries spend less and deal with their own debt problems. what about the plilt situation in the united states? we are coming up with deadlines for the u.s. to prove to the rest of the world and our investors, our lenders we have our act together on debts and

deficit but so far it's political acrimony. all of these things weighing together and that lack of confidence just continues. >> lack of confidence but, alison, our corporate sector has remained strong. christine just pointed out about corporate profits. >> reporter: yeah. these companies are flush with cash right now but not investing and not hiring because they don't know what is coming around the corner. there is all of this uncertainty in the economy and you know what would calm them down? if they see something concrete coming out of washington. you look at even standard & poor's which downgraded the u.s. debt and morgan stanley coming out with this very dire sort of forecast, forecasting a possible recession for the u.s. and europe getting close. you know, it's -- it all sort of comes back to the big debt ceiling debate. it may be over but the reality is debt is still a major issue. the fact of the matter not

enough income coming in to get a handle on the amount of the debt we have and not here in the united states. it's happening in europe too. the reason why we see wall street react so violently. just like in europe and just like here, everybody wants to hear policymakers take big concrete steps to re-ensure investors. you want to see companies to start investing again and rehire. >> who knows when we are going to hear that and from which policymakers. we are standing by for something that gives them all some sort of confidence. ladies, 4:10 away from the opening bell. talk to you in a few minutes. also ahead, presidential candidate rick perry hold campaign event in south carolina. we are following it. if he makes news, we will bring it to you. if you don't have an iphone, you don't have an ipod in your phone.

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where are all right. time for the opening bell on wall street. we will break it down to see how

it's all going to hopefully come through. christine romans, part of our cnn money teen and alison kosik is watching the markets from new york stock exchange and our richard quest in london. christine? two words. risk off. that is what the people with money say in the markets about what is happening and that means anybody who is taking a risk they want to turn the risk off and do something safe and why money is going into treasuries and gold. you got records over and over again this morning in gold above 1870 an ounce. stocks they think are risky. that is why you're seeing the market go down. if you're going to have some sort of even flirting with another recession, that is something that could hurt stocks and that is why you've got -- could hurt companies, quite frankly, and hurt the u.s. economy and why people are selling stocks. irony here it's going to take something to break that risk off, that lack of confidence. we don't know what it is yet,

thto be honest with you. >> we will see the numbers any minute now. the opening bell has -- you heard it right there. it has rung. alison, there we go. negative territory already of course. >> reporter: exactly. so the dow slowly going down again. christine had two words. i have one word of the day. volatility is king today. especially since wall street doesn't have much to trade on today meaning we don't have many economic reports coming out so that means, you know, there is really no direction for the trade today. it's mostly going to be trading on what has already happened. the worries about the recession. the bleak economic reports that we have been getting. also it's friday. we are going into a weekend. you usually see traders not willing to hold on to their stocks as they go into the weekend because you never know what is happening over the weekend. dow down 96 points and not as bad as we thought with the initial opening bell but still we are in the red. >> richard quest, is this going to set the tone for the rest of

the year? >> reporter: oh, i think that is a huge leap to say that! i thought you were going to say is this setting the tone for the rest evident week! >> then that is good! good. you're saying it's not going to look this bad and we are going to have a good year ender? >> reporter: no, i'm not. i think what you're looking for is you're looking for change. you're looking for decisions to be made and you're looking for an improving -- this is all about confidence. these prices aren't falling because of any minor piece of economic news that comes out on a random thursday at the end of a month. it is because there is a feeling because things are not good and therefore markets are falling. now, look. we have faced these problems before individually with countries of debts and deficits, but this is different. there is a much greater structural imbalance between countries that globalization means it's harder to sort out. and that is what you're seeing. it is forcing into particular

movements. >> let's get the ladies to weigh in here. we heard where richard stands. i heard you both laughing. christine, i'm trying to look for positive light at the end of the tunnel. can we look to year's end and can we keep our fingers crossed? because a lot of analysts are saying, hold on, just hold on and give it to the end of the year, we could see an upside here. >> i'll tell you what the consist senco consensus is. politics in washington is going to affect confidence on wall street. no question. so you could have more tough trading here in the very near term. but you also have talking about big companies paying dividends and other places in the stock market you can get paid for holding stock, looking at beaten down companies, people trying to figure out where they can make some money year, two years on out if the worst case doesn't come through for the global economy. people looking around in that way.

you're seeing the money going into treasuries. ironically, the thing we were worried about is the safe haven treasury. treasury yields are -- mortgage rates 4.15% on a 30-year fixed rate loan. i can't believe those words came out of my mouth. 4.15% on a fixed rate loan. a lot of people are scrambling to refinance and finding when they are successful they have more money every month freed up by that. that is one area of xim for people who aren't under water on their loan and can get through on the phone to people doing their financings but people doing that now. >> good. there is a positive sign. alison, you know, i know you talked to traders as well. what is your take? what is the overall feeling if we were to look forward to what we could see at the end of the year? >> reporter: well, what you're seeing is an actual forward looking indicator. that is what the stock market really is. that is what wall street does. i'm much more -- not me, but the traders are much more

pessimistic about going forward. mooeve i mean, what you're seeing happen with stocks they are moving lower because what you're seeing is worries about what is going to happen in the future. does the slow economy mean earnings that corporate america puts out is going to be worse? what you see is kind of a repricing happening, based on these calls that recession is around the corner. the economy is slowing even more. which could mean that companies could also be hurt in the end and why you see the selling happening because of the worry about what will happen. and until we see some positive data come out, because, once again, wall street takes its cues from the economic we get out on gdp, manufacturing and jobs and housing. until we see some sort of friend happen i don't think you'll see upward trend happening in the markets any time soon. i do have something positive. oil prices are down yet again,

down to $81 a barrel and could translate into lower gas prices. there you go. >> there is a little light at the end of the tunnel. we can drive more. richard, alison mentions the positive data, okay? we are also waiting on policymakers. so much of this is because of a self-inflicted wound and everyone wants to hear from the politicians making decisions with regard to the debt. and, so far, we just -- we haven't heard anything of depth from the policymakers. >> reporter: right. i think two distinct groups in this, that you have the united states which -- where you have the views of the republicans and the democrats and the tea party and the liberals. and they are very principle positions, whether you agree or disagree, but they are fighting to the core for something that they believe in extremely strongly. one side believes the other is completely and utterly barking

mad and wrong! in europe, you have a lot more indecision. you have a lot more wishy washiness, inability and failure to get on top of it. you the ecb, the french government, you got the german government and you have systems of government that, frankly can't cope. what i think is most extraordinary about the last month is not that the markets have gone down or up, that happens. but the swings, the volatility. that is so totally new. these 300, 400-point days and that is making everybody rethinking their strategy and rethink the way they actually handle markets. >> okay. richard quest, alison kosik and christine romans, we will be talking a lot more the next couple of hours. thanks so much. to our viewers, we will keep a close eye on wall street throughout the morning and keep you posted on a regular basis. also, we are taking your

market and money questions on twitter at kyracnn. we will answer the best ones later in the newscast. despite international pressure to stop the violence syrian forces fire on protesters yet again. a live update after the break. [ male announcer ] for sore muscles use new bengay cold therapy. it's pro-cool technology releases armies of snowmen masseuse, who cuddle up with your soreness and give out polar bear hugs. technology. [ male announcer ] new bengay cold therapy. the same technology used by physical therapists. go to bengay.com for a 5-dollar coupon.

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checking top stories now. nearly three dozen people were killed in a bomb attack on a mosque in pakistan. police say a teen suicide bomber detonated during friday prayers. in afghanistan two suicide bombers attacked a british compound in kabul killing eight people. the taliban claimed responsibility. in the uk william and kate wrap up three days of royal visits by areas hit by heavy rioting earlier this month. today they visit a business in birmingham. just a day after president obama and other world leaders

called on syria's president to step down syrian troops continue their crackdown firing on protesters today. cnn's arwa damon is following the developments from beirut, lebanon. arwa. >> reporter: kyra, many people were saying that perhaps friday would be a test, if, in fact, the government had been claiming that it had ended military and security operations would it allow peaceful demonstrations to take place? we are being told from the local coordination committees is 15 people have been killed and one they say syrian security forces fired at them in various parts of the country as they were trying to demonstrate following friday prayers. the bulk happened in a province of warar. we are told they have been under military occupation since april. they can't demonstrate there because of the heavy security

presence so they have been demonstrating in various towns and those towns under heavy attack. act ta activists saying they are squashing anyone who speaks against them and have decided to refocus on the province of warai. >> we have seen the reaction toward the protesters. u.s. sanctions and the demands for al assad to step down. it hasn't had any impact thus far. what do you think going forward? >> reporter: kyra, until other countries really jump on board, until this coalition is broadened, i don't think it is going to have any sort of an impact. the russians have already come out and said that such should be given more time. they have effectively really served to boost the syrian regime's cause and its moral, to a certain degree, it now knows

it continues to have a fairly solid ally in russia. the chinese haven't spoken out against syria and turkey appears to be willing to allow the president assad to have more time as well. until you get a strong international consensus what the u.s. and europe decides to do is not going to impact this government. >> arwa damon, thanks. a massive dust cloud blankets phoenix area. we will show you the damage that it left behind next. >> stop attacking the families! >> a heckler you hear targeting rick perry in new hampshire. he is in south carolina right now. we will check on the response next. ptinted moisturizers with scientifically proven soy complex and natural minerals. give you sheer coverage instantly, then go on to even skin tone in four weeks. aveeno tinted moisturizers.

checking stories across the country. another big dust storm hit phoenix area and shutting down the airport' knocking out power to thousands of people. burger king given their mascot the royal sendoff. new ad campaign to be announced today. it means the end of the road for the 8-year-old character pitchman. in new york a fired lifeguard is suing the state over a swim wear policy the 61-year-old roy who looks good there says the requirement for guards to wear speedos a an attempt to get rid of older lawsuits. his lawsuit tossed out twice before but an appeals court has decided to reinstate his campaign. recogniick perry in south ca

today and speaking at a hospital in florence. paul steinhauser has been monitoring his remarks. paul, what has he said? >> reporter: he was talking health care workers and talking health care. it was a two-day swing. last saturday also in south carolina that rick perry announced for president. the texas governor now back there. of course, south carolina is the first southern state to vote in the primaries. yesterday, he was in new hampshire for a second straight day and he got a little bit of a different reception. take a listen. >> stop attacking middle class families, rick perry! stop attacking middle class families! >> reporter: you can hear it up there as he was making rounds and doing a meet and greet. those are democratic protesters from the alliance for retired americans and heckling perry because of his stances on social security and medicare. last year he suggested creation of social security may have violated the constitution in the

1930s. but he is not saying that now. keep an eye on everybody else on the campaign trail and report back to you. >> sounds good. your next political update in an hour. always get all of the political news 24/7 at cnn/politics.com. a brawl breaks out at a goodwill game. i know. it doesn't make sense. we will show you the pictures when the georgetown hoyas and a chinese basketball team duked it out! which makes it easy to play music from your phone, on your stereo or see the photos you've taken on your tv. and if you want to share your favorite movie, that's easy too. airplay. just one more thing that makes an iphone and iphone. .

stories making news later today. republican presidential candidate michele bachmann holds a town meeting at myrtle beach

at the convention center. gop presidential hopeful rick perry takes a tour of greenville, south carolina. and ron spepaul speaking to supporters in orlando. mret's check in with christine romans live in new york. >> keira, it's been an awful august, the dow down 9.5%, more than 1100 points lost just in the month of august. what will turn it around? what will bring confidence back and what does friday hold for your money? that's at the top of the hour. i'm dan lothian on martha's vineyard where president obama is on a ten-day vacation but the white house says very much focused on fixing the economy and creating jobs. more at the top of the hour. also next hour, she just walked off a show. then christine o'donnell accused piers morgan of borderline sexual harassment. as you can imagine, piers has

plenty to say about that, joining me live with his reaction.

it was supposed to be a goodwill game, but it turned into a brawl. more on the team, the drama. what was going on, zain? >> oh, my gosh, keira. just take a look at this video. sports diplomacy officially has a black eye. it was supposed to be a goodwill game between the georgetown la jollas who traveled to beijing

in china to play a local team which is actually an army team. look at what happened. everyone went nuts. the score 64-64, the players started punching, kicking each other. even the spectators got into it. they started hurling down plastic bottles and screaming. eventually they it ended up just abandoning the match. a lot of bad blood on both sides. what ended p up happening, corked to one u.s. source, is both teams finally got together in the hotel room and made peace. but we don't have any more details. that's so embarrassing. the u.s. vice president joe biden was in china on an official visit at the time. yeah, that was pretty bad. >> just taking a look at the video. okay, there we go, there's joe biden, being very diplomatic and shaking hands. so is this normal operating procedure for the chinese? i mean, we know our basketball players can be bad buys, right

but what's the deal here? >> oh, my gosh, they do have a reputation like this. i think they were playing brazil, the u.s. national team -- sorry. the chinese were playing brazil, both their national teams, and it ended up in a massive scrap just like that. and eventually the chinese team had to apologize to the brazilians and say sorry. everyone online is saying, our chinese basketball team, they're not so hot on their skills but boy do they have hot tempers. it's really embarrassing for the chinese. it's mostly an army team. many of them belong to the people's liberation army. it ended p up -- ending a goodwill game like this, it just looks really terrible on the chinese. but, boy, brawl video like that with the vice president there. >> yeah. you wonder what the vice president was whispering to the side saying, thanks. >> let's go. >> exactly. time to go.

see you in a bit. it's been nearly a half hour since the opening bell rang on wall street. right now, dow industrial is down 70 points. a lot of traders are probably wishing that they were in a different line of work right now. meantime, a lot of other folks would take any work that they could get. finance expert collide anderson back with us again. colli clyde, let's talk more about jobs. since our discussion about 15 minutes ago i've been getting a number of tweets. this one was particularly directed to you, what you were saying, hey, this is the time to create a job, be an entrepreneur, take advantage of this. pottery 47 writes -- trying to start a children's business right now. banks aren't lending, though. no for profit grants. how do you create a job without funding or money? >> well, that's really interesting because what you have to do is think outside the box. i think desperate times call for desperate measures.

we've got to be more creative. if the bank is not giving you the money, who else is looking or could again benefit from that ventu venture? if you look at the it great depression, people were able to create things out of nothing. it may not be a big business with a big building, but you maybe could use sources already available to you. we have to find those and tap into them. >> what are the markets doing across different industries? does the volatility cross all industries? >> i think everyone is feeling the pinch right now. there are no jobs. people are feeling pinch. if you're in an industry like she is, talking about child care, people are looking for work or have work and they need child care. this's one of those necessities or needs. you've got to bootstrap that. people are hurting but there are solutions. if you can be part of the solution rather than the problem, i think you have an upper hand. >> we've been trying to gauge our guests with regard to a

recession. everybody has a different opinion. what's your take? are we headed to a recession? is there it -- has the risk risen? >> did we get out of a recession? >> no. are we headed -- oh, you're saying we've already been there. okay, we're already there. >> i mean, you know, if you look -- now, on paper that's what we're looking at, trying to determine if we're there. people have been hurting. i don't think people have stopped hurting. unemployment has been high so i think those are the things we have to look at. people need answers. companies are cutting back, companies being tight with what they have because they want to stay in business. if you look at it from the stand point of the american people, a lot of people feel like we never left it or came out of it. >> clyde, we'll talk more in the next 60 minutes. thanks so much of. we begin this hour on wall street, of course, where the markets are once again mired in the red.

t dow industrial now is down 51 points. cnn correspondents covering all angles impacting your money from new york, london, hong kong, martha's vineyard. we're breaking it all down. alison kosik at the new york stock exchange, what's the word from there? >> keira, it it's not so bad today. we saw the dow off by the triple digits at the opening bell, now only down 50 points. take the positive as you can. only about 10 of the 30 dow components are moving higher, but that's saying a lot lately. we've seen only one or two rising lately. the dow would be higher if it wasn't for hewlett-packard, hp is killing off its tablet, killing off its pc business. that's why you're seeing shares there hit hard. but we are seeing the it nasdaq in positive territory, what measures the fear in the marketplace is up just about 2%,

we saw it surge 35% yesterday. that fear is definitely coming down a bit. you know, every day investors, here's the note for you, you shouldn't be following these day-to-day moves unless you've got a really strong stomach. you've got to really keep an eye on the long term, keira. >> keeping your eye on the long term, trying to stay positive. christine romans is now calling it awful august. >> it has been awful. it really has been truly awful. it's a good point alison makes that outside of hewlett-packard you're seeing buying in place. we talked about that a half hour ago. professional investors are looking around saying, i've already made a lot of mb in gold, for example, or bonds. i'll look to see if there are big companies that i should be invested in, will have better chance of appreciation. maybe i'll start moving, too. also there's a dearth of new it stimuli, if you will, for the market. asia is closed now, european markets winding down. then the rest of the day on a slow summer friday, maybe people are thinking there aren't are

really more reasons to sell stock today. there's also a very technical reason, literally, you have the people who very short term trade the markets are looking at some of the levels that have held, the technical support levels that have held in the s&p 500. they're saying, maybe we won't probe any lower than that for the near term. those are literally people who look at the charts and try to decide where they want to look at their money, not the fundamentals of the economy. those people seem to be ruling the day this morning as well. still watching oil, gold, bonds. in terms of your own money, two things you've heard me say some times, asset allocation, know what you own and why, and also you've got to make sure you are adjusting your portfolio every quarter or twice a year to make sure you're in the right bring place, that you're taking your profits and putting money into cheaper stocks so you can catch moves like this and they can bet fin you. while you were p sleeping markets in europe and asia have wall lowed in the red, suffering

big losses. we are in london with our look overseas. >> keira, as christine was saying, what's driving the markets people don't seem to be looking at the fundamentals. you know, the whole concept of the global recession still is drivetion the markets, the european debt crisis still hanging over this block like a cloud. if we look at the it numbers in europe at the time, red arrows across the board, not down as much as they were early in the day. but if we look at what's happened this year, down more than 13%, the other main indices down merely 20%. and when it there's uncertainty and what traders keep saying, we're looking for clear direction from the policy makers who we're not doing at the moment, what do people do when there's uncertainty? people cash out. that's what we have at the moment. >> thanks.

president obama may be vacationing, but i bet he's watching the markets as well. dan loath yam with the president it massachusetts. what are they saying about the sharp movements, dan? >> reporter: one of the things the white house has been very good at and consistent with is they do not talk at all about the zwrie raigss in the markets. in fact, during a chat with reporters yesterday, deputy white house spokesman josh earnest said he didn't want to speck latest late on the markets. but they talk about the president's overall efforts to boost the economy and create jobs. even though he's here on vacation, we're told one of his top economic advisers will be coming here next week providing him with frequent updates on what's going on with the economy and the president also working on his new ideas as the white house put it in terms of job creation. so the president might be on

vacation but very much staying in touch with advisers here and senior invoicese e advisers bac washington concerning the economy. >> dan, thanks. cnn's zain virgie is live in london with reaction to the volatile markets here and overseas zain, what's the word? >> keira, let's look what the "guardian" newspaper is saying. fear of risk-take iing, psychological scarring kaug caused by the last financial crisis and a growing reluctance to take risk in the markets is creating pessimism and threatens to 38 a recovery. check out the "international herald tribune -- fears grow in europe that banks need cash. the european banking system is showing signs of a cash crunch, analysts say, but a lack of clear data may be exaggerating the gravity of the problem, sowing mistrust among banks and making them reluctant to lend to each other as well as businesses

and consumers. there are concerns that that really underlines what we're seeing is a hangover from the banking crisis in 2008 and now it's really transferred to become a crisis of the state and they're riddled with massive debt piles too and the government really needs to handle that. you have the economies of big europe countries here that have traditionally been strong like france and germany, not showing that growth. >> right now the dow industrial down 14 points. we'll keep an eye on the market. also coming up, our 30-second pitch. this time around, we're giving back to our military vets, spotlights vet-owned small businesses looking to drum up work. we'll talk to an air force vet alex armor, coming up next. have i got a surprise for you! a mouthwatering combination of ingredients...

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try capzasin-hp. it penetrates deep to block pain signals for hours of relief. capzasin-hp. take the pain out of arthritis. checking stories cross country now. police in southern california say 60 suspects were arrested wednesday night with ties to mexican drug gangs and in a rocky social club. the raid netted guns, explosives, more than $500,000 in cash, pounds of meth and nearly two tons of marijuana. powerful storms, one producing baseball-sized hail closed the airport in omaha, nebraska. look at the cars in the airport's parking lot. seven planes were also damaged. the airport did reopen, by the way. in suburban detroit, a driver with no working brakes tried to stop the truck with his feet. the move covered 2 1/2 miles.

the driver hit four vehicles along the way until he finally came to a stop. oh, yeah, whiplash on wall street. another day of bouncing numbers and at least for now those number it's are in fnegative territory, dow industrial down 24 points. let's try and make sense of all this. jeffrey mccracken senior business wriergt with bloomberg news, clyde anderson expert and author. we've been getting a number of tweets. clyde, i'll throw a question to you, get more of a wider perspective from you, jeff. clyde, a lot of specific questions about what to do with money. this one coming from rosie -- forepeople who want/need to retire, what do they do with 401s that are depleting and they have a hard time to wait? >> those are difficult to watch, pension funds and people that

have just been hurt with their 401(k). if you're in the 50-year-old and p up demographic, aloft people are going to have to work a lot longer, that's almost the harsh reality. there isn't a quick fix. they have to know what's in their 401(k). i think that's getting people to pay attention, where before they didn't pay attention to the 401 or what they were invest inve investing in. they're probably going to have to work a little longer to rebuild and get some of the losses back. >> besides the 401(k), the other word we're hearing a lot lately, jeffrey, is free fall. when you take a look at these numbers going up and down, what's your take on how far down the market must fall first before it actually stabilizes somewhere? >> keer rashgsirkeira, the clip from disturben detroit, the guy strieing to stop the runaway

truck with his feet, almost like maybe how the policy makers feel right now. they've tried a lot of the tricks, a lot of the measures in the past that often worked. lowering interest rates, qe2. the dwe now is, what do they do next? i don't know the market has to hit a certain bottom. i think people need to see investors, people that run the big funds like peopleco, what they need is certainty. how do the jobs numbers look in august? the fact we created jobs in july when everybody assumed there could be a slip and we'd have negative job growth, that was positive. now people want to see after labor day, how did we do in august, what is the obama plan? and i think part of the reason today we haven't dropped quite as much as maybe we anticipated was there's already been some people pushing back on all the negative comments out there. the president of the cleveland fed made a speech today in columbus and she lowered her growth estimates but said, i see

2% gdp growth for the rest of the year. not robust or ideal out of a recession but it's not negative and better than the first half of the year. people want clarity and some sense it won't get a lot worse. >> it's interesting all the different leaders within with the fed. out of dallas i heard him saying, look, had when you talk about setting the tone for the rst of the year, he's not worried. he said, we're going to see an upside at year-end. what do you think? >> i think -- i try to stay out of the opinion making business, if you will. it if you hearken back -- >> you cover this every single day. you look at history. know there's things in your head. >> well, i think something is striking is, if you go back to that distant time known as sfring 2011, p april, may of this year, every economist virtually said there's no chance of a double dip. if you surveyed 100 economists, maybe 5 would say there's a chance. now 40% or 50% think it is.

so i guess from my opinion, that's why i stay out of the prediction game. but my sense is, a lot of this is a very emotional reaction to uncertainty. it's like a very high-strung market and every speech,er every data point is seized upon until something comes along that points in a different direction. i'll go back to something i said earlier. corporate america is sitting on a couple trbl dollars in cash, the banks are well capitalized. companies are hiring, albeit not the big numbers you want to see. okay, it's not robust, not gangbusters but it's also not the end of the world. i think once people get their head around that, you'll see stability in this volatility, the abysmal, atrocious august, whatever you want to call it it. i think it will start to dissipate after labor day. >> clyde, another money question coming in asking you directly the effect of market volatility on college loans for parents and kids. >> i think we're seeing the effect of that. we've seen some of that come out of the deal with the debt ceiling where, you know, the market is changing. we're talking about unsubsidized and subsidized loans where grant

stoouds will have to pay interest on the loans immediately. we'll see some of the programs, pell definitely is going to be challenged and some of the other programs that provided for college funds. interest rates are still low right now from that standpoint as far as paying the loans but now when you've got these loan that's are compounded with the interest may be losing money that a lot of kids depend on to go college, those are some of the things you're seeing as well as costs of college increasing. we've got students who can't find jobs when think invest all this money to go to college. we have parents that are strapped, like a trickle effect. everything is feeling the effects of everything in the market. we're all feeling it it it ayos the board and definitely people trying to really prepare for college right now. >> clyde anderson, jeffrey mccracken. we'll talk more in 20 minutes or so. we're all keeping an eye on the markets. my analysts as well as all of us here. in our 30-second pitch, we're giving back to our

military vets, spotlights vet-owned small businesses. we'll talk to air force vet alex armor and see what he thinks as a small business owner about the plunging dow and how it's impact the him. we'll be right back. >> reporter: it's a place with killer views of puget sound and is good on economic shape. we'll talk about that city next. hi there!

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what town is on the economic upswing? its economy is growing since nearby boeing is hiring. located on the puget sountd, the spectacular views and homes bring people to the seattle suburb. >> living here is great. wonderful opportunities with employment, really great schools it's friend it's family friendly. >> reporter: a great place to get the pacific northwest experience. mukilteo, washington, number 9 on "money" magazine's list of the best places to live. okay. we have a regular feature called "30 second pitch" where we try to help folks find jobs. we have a twist this week, spotlighting veteran-owned small business looking for work. for six years alex armor served in the air force working with weapons systems and was a

finance officer. now he's retired, owns ai business that works with hospitals and doctors. we're live with him in new orleans. when you see the markets drop like this, as a small business owner, what's going through your mind? what are you most concerned about? >> well, keira, we try not to really pay too much much attention to the gyrations in the market. we try to basically pay more attention to creating value for our customers and we know that, as a result of that, we will be able to create jobs for military veterans and people in general. so we try to focus on value creation. >> so tell us about your business and why exactly you chose this path. >> well, we're a technology consulting firm that basically foeg uses on enterprise software and hardware solutions for the federal government as well as the financial industries. and so we basically focus on that and basically try to deliver the solutions that are necessary for the market to take

advantage of those solutions. >> so give me an example of one of your best assets. >> one of our best assets? well, it's our innovation. we're a very innovative company, we're small, nimble, we pay attention to what's going on in the marketplace and we basically bring along the best candidates we can find to help us implement those solutions across the marketplace. >> tell you what, alex. we'll start the clock, give us your 30-second pitch hoping there's businesses out there that will hire you. >> thank you. offspring solutions is a technology consulting firm that focuses on enterprise software and hardware solutions for the financial industry as well as the federal government. we also have been involved in several multimillion-dollar contracts to include the implementation and maintain of financial management system had hr systems and business intelligence solutions. we work with customers such as marriott, blue cross blue shield, department of health and

human services and many others. if you'd like to know more about our company, visit us at www.offspringsolutions.com. >> go ahead and repeat that e-mail one more time. we're looking at your web site. that's a pretty slick web site. give us the e-mail once again. >> ww.offspringsolutions.com. >> the web site address. there we go. alex armor -- >> and keira? >> yes. >> i just wanted to mention as well that my brother has just been deployeded to kandahar. i wanted to give him a shout-out as well. >> go right ahead. >> just got there a week ago. >> is he watching? >> he should be watching, major xavier bruce in kandahar, stay safe and come home soon. >> he's extreming us live on his ipad i hear. let us know if you drum up some business. thank you for your service. we appreciate your brother as well, alex. thanks. >> you bet. if you'd like to do a 30-second pitch, e-mail us.

we may get you on the show in the coming weeks. lots of activity in the middle east today. israeli military has been bombing targets in gaza. the military says it's in response to those terror attacks that were carried out against israel in the last 24 hours. let's get more from our kevin flower, our jerusalem bureau chief joining us from the isr l israe israeli/gaza border. bring us up to speed on what's happening there where you are, kevin. >> reporter: keira, after those attacks yesterday that killed eight israelis in southern israel, the israeli government vowed it would retaliate. that's what it did. in the last 24 hours we have seen a series of punishing air strikes against militant targets in gaza. that's what the idf says, various targets they've been hitting they it say hill tant weapon factories, smuggling tunnels, militant cells, et cetera. in one of those strikes that happened shortly after the attack yesterday, they struck the house of a militant group

that they said was actually responsible for the attack in southern israel. that air strike killed five people. so in the past 24 hours we've seen seven people total killed in these air strikes in the gaza strip, two of those children. and gaza-based palestinian militants have are not been quiet either. they have been launching rockets into southern israel. so far today on friday we have seen 14 roblckets coming into southern israel. one of those rockets hit in a port city near a synagogue injuring six people. another one was headed toward another city in southern israel. it was intercepted by israel's rocket defense system known as the iron dome. just a short while ago we got reports of more airstrikes in the gaza strip. so, keira, this is a very tense moment between the palestinians and israel and there is high

expectations we will see more violence in the hours ahead. >> it it says a lot about the security on the border there. kevin flower, we'll continue to stay in touch with you. appreciate it. back here in the states, of course, we're watching your wallet. dow industrials up 26 points. we're in better shape than we were yesterday, good news. also this week, michele bachmann says if she became president she'd bring back gas for less than 2 bucks. but how would she do it? your mrit dal buzz is next. [ oswald ] there's a lot of discussion going on about the development of natural gas,

whether it can be done safely and responsibly. at exxonmobil we know the answer is yes. when we design any well, the groundwater's protected by multiple layers of steel and cement. most wells are over a mile and a half deep so there's a tremendous amount of protective rock between the fracking operation and the groundwater. natural gas is critical to our future. at exxonmobil we recognize the challenges and how important it is to do this right.

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checking top stories now. stocks slightly lower in early trading, dow industrials up 68 points now after yesterday's 400-point sell-off and world markets falling today, hey, these numbers don't look so bad. militants attacked a high-profile british agency in in the heart of kabul today. afghan officials say at least eight were killed. in the kuflt, william and kate wrap up three days to royal visits to areas hit by the rioting. today they visited a business in birmingham. folks, it's the interview everybody is talking about, former senate candidate christine o'donnell getting annoyed and just saying, that's it, and walking off the set of "piers morgan tonight." >> well, don't you think as a host if i say this is what i want to talk about, that's what we should address? >> not really, no. you're a politician. >> yeah. okay, i'm being pulled away. you know, we turned down another interview for this. >> where are you going?

>> well, christine o'donnell didn't turn down an interview on the "today" show. she actually talked about this incident and how piers made her feel. >> and piers, for whatever reason, perhaps desperate for ratings, was not letting p int his creepy line of questioning. he throws it in there in the middle of these sex questions that he would not ask with a man. i wanted to p ststop that bordee sexual harassment that was going on. >> okay. i think what -- >> it was inappropriate and he wasn't stopping. >> borderline sexual harassment. as you can imagine we've got piers on the phone. i just want to add that, from twitter, she went on to write, piers, thanks for the invite, schedule's already packed. maybe another night. no hard feelings, you checky bugger. i'm ready, piers. sexually harass me right now. >> i thought you'd never offer,

keira. in her hposition, she seems to have tuchbed overnight. originally she was seeing the funny part and saying it's was something to be amused by. now all of a sudden it's a serious situation where she thought i was being sexist and sexually hai ining hassing her. because of her comments, we are feeling compelled to reair the entire interview on my show so everyone can decide for themselves, you can see that actually all i do is play her her own public statements and ask her for comment. and she does discuss all these public statements in her book. and let me remind you the reason she was dog ing my interview wa to promote her book. so the idea that this was inappropriate or i think she called me creepy, the only thing that's inappropriate or creepy are the very things she discussed in her own books that she has said. i found the argument that she's putting forward today tenuous to

put it mildly, and i suspect the reaction of somebody who realizes she made a rather big mistake. >> okay. you know, let's just lay it out hire. look, you're getting great publicity for this. everybody is talking about your show. they're booking her to talk to her. they're talking about you, talking about cnn. she's obviously getting great publicity for her book. you know, what's your take? do you think that this was all a part of the plan? >> well, i don't think it was part of her plan. certainly if you take it back to when we booked her, i don't think you would book christine o'donnell right now for ratings. there's hey flaw in her strategy because she's not exactly the biggest draw in down. having said that, i was keen to see -- it i had met her in new york and had a cup of tea with her and taught her how to make english breakfast tea. i thought we got along pretty well. for the first five minutes it was all pretty friendly. i had no inkling in my mind had when we played her stuff she talked about openly and honestly

in her book she would react in this extraordinary manner. what was quite good on the "today" show was the way the presenter actually pinned her down, savannah, on the moment she walked out. it had nothing to do with the discussion about her views about masturbation or about satanic witchcraft, which are well documented but interesting because she readdressed them in the book. moment she walked out was when he awe talked to her about the views on gay marriage. the reason i asked her that wasn't to be sexist or inappropriate or creepy but quite clearly it is a massively contentious issue right now, particularly the tea party candidates, because michele bachmann has made some pretty stringent comments about this. and i think it's perfectly journalistically acceptable and indeed almost you're compelled to ask that competitive of anyone like christine o'donnell because it's such an issue with their side of the republican party. that's the moment she walked. to try to pretend she was walking out in fury over

questions i asked ten minutes ago i think is disingenuous. >> we're going to reair the entire interview tonight. >> oh, the entire interview. >> yes. she seems to have a slight amnesia problem over why she walked out. we're going to air the whole interview, have some commentary on it. and my invasion vigs itation re same. if you feel like you can, come back on my show, let's have round two and maybe at some stage in that interview you could answer the simple question, what do you think of gay marriage? >> there you go. the invitation is out there. we'll see what p happens. piers morgan, thanks for calling in and thanks for being nice to pe h me. >> i didn't harass you once as far as i know. >> i'm feeling pretty good right now. >> you're still there. >> i'm still sitting on set. >> you're a bigger woman than she is, keira. >> piers morgan, i salute you. your "political buzz," rapid

fire look at the hottest topics of the day, three questions, 30 seconds on the clock. playing today, maria car don na, john avalon, dana loesh, the three joining us. i promise all of you i will not sexually harass any of you. but if you lady would like to attack john, no problem. it's a free for all. three of us against one. >> sounds good, keira. here's the first question -- with the markets in wild swings reitz now, some republican ares are hitting the president for his martha's vineyard vacation. do they have a point, or is there really little the president can actually do about the markets right now? dana? >> well, i'm not going to begrudge anybody for going on vacation. that being said, i think he does go on vacation quite a bit. and it just doesn't send a fantastic message, especially when you're going on an enclave like martha vineyard. jobless claims just went up unexpectedly by 9,000 this week. but honestly, and this may make conservatives mad, i want him to

go on vacation, as much as possible, because whenever he's not giving a speech the markets do better. i'm happy with it. go on vacation, stay up there, relax and maybe we can watch wall street kind of recover a little bit. >> maria? >> no, it's absoluteliry dick you'l -- ridiculous. we know a president is never really on vacation. secondly, the markets really have nothing to do with this president. a lot of the volatility has to do with the economic situation and what's going on in europe. thirdly, again, never on vacation. he is there being briefed done instantly by his staff, working on a jobs package which hopefully when he comes back to washington the republicans will listen and actually work with this president to create jobs for america. >> john? >> this is silly season situational ethics. george w. bush went on vacation some fechb separate trips totalling over 1,000 days according to fact check.org. i don't remember conservatives getting worked up about this.

this is partisan politics playing out in august. nothing more. >> question number two -- this week michele bachmann says if elected she'd bring back gas for less than 2 bucks. how the heck is she going to do it? >> you know, these are the kind of statements, keira, that prove that michele bachmann is so not ready to be president. they're reckless and frankly stupid. it shows she has no idea in terms of the economy. gas prices are very much like the market. pretty much impervious to what comes out of the white house. keep talking, michele bachmann, because you are doing nothing to convince sensible every day mainstream americans you are ready to be their commander in chief. >> dana? >> i'm just trying to understand what maria said, that the president and his economic policies don't affect the economy. i just want to think about that again for a minute. i think -- >> you've got to listen to what i said. >> maria, i'm finishing. i was polite enough to let you finish. you show me the same courtesy. it thank you. i think what bachmann is

suggested is not beyond the realm of possibility if you understand how gas and oil work the prices are speculative. one of the big reasons they're speculative is because the countries from where we get them are unstable. if we were able to get more of our own resources here and if we had an administration that didn't falsify reports like ken salazar that killed the jobs in the gulf, we may be able to get closer. >> john? >> look, again, this is bumper sticker politics. promising voters 2 buck a gallon gasoline is no more than that. the analysts and experts are elitist in saying that somehow this can't be done unilaterally are, i'm going to go with the experts on this, not michele bachmann. this is just magic is not going to do it, promises don't translate to reality on the political campaign trail. >> your buzzer beater, 20 e seconds each. texas governor rick perry got some pretty nice gifts from

backers, hunting trips, 22 pairs of cowboy boots. if he were elected, what gift were would you give governor perry headed to d.c.? dana? >> i wouldn't give him anything. all presidents get gifts. i'm not really bothered by it it. i wouldn't give him a gift. he would get the gift of governing us. that would be a gift in and of itself. i don't want to give anybody anything. they don't deserve anything from me. >> yes, maria? >> i would gladly give him a personality and brain transplant, keira. because anything to have a different person with different policies, if he does become the president, to be able to guide us. because if he implements what he says he's going to, the middle classes is going to be in a world of hurt. millionaires and billionaires will be fine. we had a texas cowboy once as commander in chief. didn't work out so well. >> maria, that's just mean-spirited. you're making me defend rick perry here.

what i'd give him is, after his recent comments about creationism and evolution, probably a science textbook. i think that might be a helpful step in the right direction. >> that's a good one. i think all of you would look good with a stetsen, roker boots, wranglers, next segment in honor of. >> sounds great. the phrase on wall street this morning is "yep, here we go again," another day of market volatility. alison kosik on the floor of new york stock exchange actually talking to a trader he. alison? >> yes, it is volatile today, but i'll tell you what it feels like a new day. we're seeing green across the board, ythe dow up, the nasdaq and s&p also in the green. i'm here with allen valdez. he's about dme xpusecurities. what's driving the trade today? >> you're 100% right. very volatile and heavy volume.

the volume is close to a billion shares. only an hour into the trading day. but we had early news out of citibank where they kind of pulled back on their gdp expectations going forward this year. but basically that's been it it. out of washington, very light news, out of europe kind of light news today. more options. a lot of option trading. >> this is still a headline-driven market, a fragile market. it can really turn on a dime. >> right. we had a 200-move already, a little past 10 ooflt 30. these markets move so fluidly, quickly, like you said on a dime. >> are these green arrows going to stick today? >> it will be a tough day. remember options expire later on. you may see some of them winding. they have contracts and omgss and they may have to sell and equi equities. you may see pressure from 3:15 on to the close. >> get ready for the volatility to pick up. thanks, allen valdez. keira, back to you. new doubts in the convictions of the west memphis three. and why after more than 15 years

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after serving more than 15 years in prison for convictions in a trio of child murders, the so-ca so-called west memphis three have a shot at regaining their freedom. cnn's david mattingly is live in jonesboro, ararkansas, where a hearing is about to start. why now after so many years, david? >> reporter: this has been a very, very long time coming for these three men. they were just teenagers when they were arrested, tried and convicted in a murder trial that absolutely caught an entire community in fear back in the day. what happened was there were three young boys who were found murdered in a swamp outside of west memphis. police focused in on these three teenagers and then came up with a theory that this was the result of a satanic ritual. the west memphis three as they have become known sent to life in prison, damien nichols actually sent to death row where

i spoke to him earlier this year. he was saying he was anticipating that the state of arkansas would later this year grant them all a new trial because over the years so much of the evidence, or lack of it, has been called into question. and they were able to finally afford their own dna testing which could not place any of these three men at the scene. so late last night a source close to the case tells us that negotiations were going on on a deal in which the west memphis three would be able to walk free today and still maintain their innocence. they would, however, have to acknowledge that the state does have some evidence, that if they chose to go back to trial they could use that to try and convict them. so looking for a possible win-win scenario for both the state and the west memphis three. but the bottom line here, the intent was to get these three men out of prison as quickly as they possibly could. we're waiting right now to find out if that's going to happen. a couple of back-to-back

hearings happening in the next couple of hehours. we'll see if the deal on the table last night comes to fruation. >> thanks, david. if you're unemployed or looking for a job, here's some good news. there are more than 3 million jobs available right now just waiting to be filled. so dust off that resume because we've got some tips to help had you stand out from the competition. plus, when the stark market goes crazy, are there any safe bets when it comes to investing your money. believe it or not, our financial experts say yes. those stories and much more coming up in the next hour of "cnn newsroom". ombination of at&t and t-mobile would deliver our next generation mobile broadband experience to 55 million more americans, many in small towns and rural communities, giving them a new choice. we'll deliver better service, with thousands of new cell sites... for greater access to all the things you want, whenever you want them. it's the at&t network... and what's possible in here is almost impossible to say.

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checking stories cross country now. another big dust storm hit the phoenix area yesterday, shrouding visibility for drivers and temporarily shutting down the airport and knocking out power to thousands due to the high winds, the third time that's happened this summer. here is police dam cash video in daytona, florida.

can you believe this? drivers were stunned, too, so they called 911 to report this baby in a stroller in the back of a moving pickup truck. the babysitter says that she had a good grip on the stroller, though. she's charged with felony child endangerment. in new york, fired lifeguard is suing the state over a swimwear policy. 61-year-old roy lesser, who looks pretty darn good there, says the requirement for guards to wear speedos is just an attempt to get rid of older lifeguards like him. his lawsuit was tossed out twice before, but this time around an appeals court has reinstated his claim. making your mark this week, good samaritan has come to the rescue of a single working mom left without a car. listen to this, the pennsylvania woman says her car was carjacked and destroyed last week and she didn't know what she was going to do. her son's birthday is this week and school was starting, and christmas isn't far away. well, guess what? she got a new car thanks to this

man who saw her story. >> i'm so thankful because i didn't think there was people out there like this. >> aww. >> well, a good samaritan says the car belonged to his 97-year-old mother who died last year. coming up -- a pretty unusual family shopping spree. tens of millions of dollars on religious relics. you're actually going to get to see some of these ancient artifacts right here in our studio. ♪

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well, the markets have been a mess. people are flocking to safer investments like gold and other commodities. but steve green and his family, well, they've put tens of millions of dollars into bibles. i guess you could say that steve has a lot of faith in his investment. he's overseeing the acquisition of ancient bibles and other rare religious relics that are now part of a traveling exhibit. he's also president of hobby lobby, the arts and crafts chain. i tell you what, this is pretty amazing, looking at the -- i can't believe actually we can touch them, too. usually you see these behind glass. >> yes. >> tell me, why was this important to you? >> well, our family has always had a love for the bible. we have tried to operate our business according to biblical principles. we believe in the bible and we wanted to share the story of the

bible with as many as we could. >> you brought in a couple of your favorites. let's start with the earliest greek text, psalm 23. for those that are not familiar with the bible, it it's the well-known verse of the lord is my shepherd, i shall not want. >> exactly. >> tell us about this. >> this is one leaf of about 49 within this particular co-dex. it reps about 1 of 150 psalms. this is a page that has the 23rd psalm. i'm no greek scholar, but dr. scott carol that is working with us lets me know this is where the 23rd psalm actually begins. >> then you've got one of the world's earliest bible, the elderest comprehensive scriptures in jesus' household language. >> this is called rescript us because it has been rewritten on. the text underneath is what is scriptural in palestinian air make, which is jesus' household language.

we are working with oxford. we are trying to pull out the bottom text so it can be better read. there's parts of it you really can't see with the naked eye or because it was written over is not visible. >> how did you test all of these to make sure they are authentic? >> i go back to dr. scott carol who we are working with. he has dealt with this for many years. he's an expert in bibles. so without him, we would not be able to do this because it's not our expertise. with his help, we've been able to collect what we have. >> so where can folks see these items next? what's the plan? is there a web site they can go to? >> we have our traveling exhibit, which is displaying about 300 of the over 40,000 items we currently have in our collection. it is open in oklahoma city at the oklahoma city museum of art. we are working on the final details to bring that here to atlanta in probably november. we'll be in oklahoma city until

october 16th. >> fantastic, steve green. tell you what, you are a blessed man on many levels. this is pretty amazing. thanks so much for bringing them in and sharing them with us. >> thank you for having me. there will be more on the green collection and the family's planned bible mu steam on our belief blog. cnn.com/belief.

stories making news later today, republican presidential candidate michele bachmann holding a town hall meeting at the myrtle beach, south carolina, convention center at noon eastern. rick perry taking a tour of downtown greenville, south carolina, 5:00 eastern. and republican presidential candidate n