rally on! world markets keep it going after the dow has its biggest day of the year. and on world aids day 2011, a goal to get to zero and a new,

alarming study showing that so many people don't know how to treat or protect themselves. this is your a.m. "wake-up call." and good morning to you. this is your "am wake-up call" for thursday, december 1st from the time warner center in new york. i'm carol costello. here are your top stories. stocks around the world surging after the federal reserve and other central banks make a move to stop a global financial meltdown. the dow had its biggest one-day point jump of the year. talking to his wife, checking the cash flow, herman cain getting close to making a decision on the future of his presidential campaign with new allegations of an affair threatening to tear it down. marking the end and the beginning. iraq holding a ceremony this morning honoring u.s. soldiers who are leaving after more than eight years of war. let's head to atlanta now for a check of today's weather. rob marciano is here. good morning, rob. >> good morning, carol. things at least on the eastern

half of the country trying to get back to normal with colder air moving into the northeast as it has been down across the south, but still a little bit of a flip-flop happening. 30 degrees with frost on the windshield this morning in atlanta, 38 degrees in new york city, 41 degrees in boston. that's still a lot colder than it was yesterday, and we'll be warming up as we go on through the next couple days, but the big story's going to be the winds out west. we've seen tremendous amounts of winds across southern california, power out, flights diverted at l.a.x. talk more about that in a second. if you are traveling today, that's going to be an issue. again, traveling to l.a. or san francisco, also some wind, new york metros, boston and denver. winds some spots are over 100 miles an hour, strongest santa ana winds in years. more in about 15. >> thank you, rob. what a difference a day makes. stocks around the worrell surld after a move to stabilize the financial system. global markets following wall street's lead, keeping the rally going. markets in japan, hong kong and

london all higher. the dow gained 490 points yesterday. that is the biggest rally of 2011 and the best percentage gain since march of 2009. yesterday, we were talking about europe dragging the world into a financial meltdown. and there was talk of another 2008. so, what will this new action do? christine romans will join us in a few minutes to explain it all. a tribute ceremony in iraq. it happened in baghdad just a short time ago. troops from the united states and coalition forces were honored for their service. this as the u.s. mission winds down and the last american soldiers are set to return home in just a few weeks. cnn's martin savidge is live in baghdad. did you attend the ceremony? >> reporter: you know -- good morning, carol, by the way. no, we didn't. in fact, western media was barred from attending this ceremony put on by the iraqi government, and there's some real dispute here as to exactly what this ceremony was all about. the iraqis say this was a ceremony to commemorate the

departure, the withdrawal of u.s. forces from iraq. talk to the u.s. military, and they say, oh, no, this is not what this ceremony is about, this ceremony is about dedicating or commemorating the sacrifice that has been made by both u.s. forces and iraqi forces bringing this country to where it is today. so, a big difference here. the iraqis saying, hey, this is the marking of the end, whereas the americans are saying, no, it is nothing like that of the kind. and in fact, u.s. forces will remain in control of camp victory, where this is taking place, at least for the foreseeable future. so, that's one of the great debates. the other thing we should point out is that it is going on now. however, it's not being broadcast live for pretty obvious reasons, security. you have vice president joe biden from the united states out there, you've got the prime minister of iraq and the president of iraq all in one place, all inside, by the way, for security reasons. so naturally, you don't broadcast what's happening because, well, there are people who would want to target it and could easily lob mortars or rockets in that direction. they're trying to prevent that from happening, carol.

>> so, martin, is that why the iraqi government kept western journalists out? i mean, why keep all journalists out? >> reporter: you know, it's interesting that as we talk about this fledgling democracy, that of course, the united states has wanted to encourage and foster here, not to mention with the loss of american lives, that one of the first things the new democracy does is ban western media. now, they say it is not because of where we are from but because of logistics -- number one, security, and number two, they say because it is indoors, it's a very limited venue, there isn't a lot of room, there is a lot of interest from american media. they simply decided to limit it to iraqi media. however, there is a pool of u.s. reporters that are following the vice president, and we expect to hear from them later in the day. still, we weren't told this until about midnight last night, in other words, not until the very day of this event were we suddenly told, oh, no, you can't go, after we were told you'll definitely thereby. >> martin savidge reporting live from baghdad this morning. thank you. we now know when we could hear a decision on whether

herman cain will go on. it could be just hours away. the two big factors, how mrs. cain feels and whether the growing sex scandal has derailed the cain money train. cnn political correspondent jim acosta is following the candidate for us this morning. >> reporter: carol, when we asked herman cain whether he is staying in this race, he did not give us a direct response. it is a sign that his campaign at this point is up in the air. >> we want cain! [ chanting ] >> reporter: the crowd was in a fighting mood and so was the candidate. >> they want you to believe that with enough character assassination on me that i will drop out. they -- >> reporter: but in a fiery speech, that was as close as herman cain came to talking about the accusations of marital infidelity that now threaten his campaign. the conservative businessman did not deny the allegations as he has this week, and he made no

promises to stay in the race. >> one of the reasons that they want to try and shoot me down and tear me down is because of the strength of my message that's resonating with the american people. >> reporter: but he accused unnamed political forces of trying to block his quest for the gop nomination. >> the establishment does not want herman cain to get this nomination. the liberals do not want herman cain to get this nomination. but i happen to believe that the american people have a different idea. >> reporter: after the speech, the man behind the 9-9-9 tax plan sounded 50/50 on whether he will remain a candidate. >> mr. cain, jim acosta with cnn. are you vowing to stay in this race? is that your message? >> we are assessing, re-evaluating. >> reporter: are you staying in the race? >> we re-evaluating and reassessing. >> reporter: how soon will have a final answer on your future plans? >> we'll be making a decision in the next several days. >> reporter: supporters at the event were still lining up for yard signs long after the

candidate was gone. diane phillips questioned whether the allegations dogging the campaign are true. >> what is a woman in his background compared to all the socialists and communists and whatever that in obama's background? they elected him, so i don't worry about that woman as much as i do the theology and the ideology of the man. i want him in there. >> reporter: either way, karla kreider said it won't change her vote. >> i don't know whether it's true or not, but i still hope he keeps on fighting. >> reporter: cain's campaign strategy is as mysterious as his future. he spent a full day barn-storming through ohio, a state that doesn't hold its primary until june 12th, a full six months after the iowa caucuses. carol? >> jim acosta reporting. the first lawsuit has now been filed in the penn state sex abuse scandal, and it's coming from a new accuser who is not included in the criminal charges. the lawsuit claims that jerry sandusky abused the boy more than 100 times and threatened to harm the boy's family if he

didn't keep quiet. the victim, who is now 29 years old, also claims that sandusky's abuse began well before authorities think it began. and the suit also names sandusky's second mile charity and penn state university. hundreds of family and friends crowding a church near atlanta for the funeral of a florida a&m drum major. the pastor urging the crowd to stop the foolish hazing that may have killed him. robert champion, a 26-year-old junior, was found dead on a bus after one of the school's football games in orlando. the school fired the director of the marching 100, one of the most well-known marching bands in the nation. champion's family is now suing the school, saying it wants to end the culture of the cover-up of hazing there. republicans now pushing a new way to keep the payroll tax cut on the books. senate republican leaders introduced a bill that would keep the payroll tax rate at its current level for another year by freezing the pay of federal employees through 2015. the gop plan also invites

millionaires and billionaires like warren buffett to voluntarily pay more taxes if they feel they aren't being taxed enough. democrats want to tax everyone making more than $1 million to pay for the payroll tax cut. it could cost the average family $1,000 a year if congress lets the payroll tax cut expire. day two of hearings set for the man who shot president reagan. lawyers for john hinckley jr. fighting for his freedom, saying he's not dangerous and should eventually be released from a government mental hospital, but government lawyers say he's still capable of great violence and recently went to a book store to look up information on presidential assassinations during a visit to his mother's home in virginia. the pastor to presidents, the reverend billy graham, is in a north carolina hospital. the 93-year-old evangelist is being monitored and treated for possible pneumonia. graham has met with 12 presidents dating back to harry truman. he's also preached the gospel to

more than 250 million people in more than 185 countries. his last crusade in 2005 drew 230,000 people. a new, alarming study out on this world aids day. the cdc reports three out of every four hiv-positive patients in the united states does not have their infection under control. one reason, they don't even know they have it. that's why health officials say testing is so important. today, president obama will mark world aids day by taking part in a panel discussion on the disease at george washington university. former presidents bill clinton and george w. bush will join via satellite. it will be moderated by our own dr. sanjay gupta. still to come, what really happened inside that hotel room? dominique strauss-kahn now sharing his version of what happened in a new tell-all book. a fall from grace for an ex-sheriff of the year. he's now behind bars in a jail named after him, accused of trading meth for sex! and americans already get less vacation time, and we're not even using it.

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♪ 15 minutes past the hour. here's what we're working on this morning. second thoughts for gop presidential hopeful herman cain. >> we are reassessing and re-evaluating. >> that's cain talking to cnn political correspondent jim acosta. cain says he will decide whether to move forward for his bid for the white house in a few days. a man once named national sheriff of the year is behind bars this morning. 68-year-old patrick sullivan jr. is accused of dealing meth in return for sex. he's being held on $500,000 bail in a colorado jail. it gets more ironic here. sullivan is sitting in a jail that's named after him. in money news, investors cheered on wall street after central banks made a move to support the global economy and

contain the eurozone crisis. all three major indexes closed up more than 4%. the dow's 490-point gain is the largest this year. in sports, it's not quite business as usual for the nba, but it's a start. today, arenas are unlocking their doors, allowing players to take part in voluntary workouts. this after a tentative deal was reached to end the lockout last week. the regular season expected to begin on christmas day. let's get a check of today's weather. rob marciano is in atlanta. ooh, tell us about those high winds. >> last night, over 20 flights were actually diverted from l.a.x. because of the high winds, so not just at the canyons, not just along the peaks, but along the coast as well, and these are some of the official wind gusts, but we're looking at some other gauges and instruments out there that show winds over 150 miles an hour in some spots. but you get the idea. there are some spots that are seeing some power outages, and that should say for wednesday. today, winds gusting, same deal. it's not going to get any

better. it will die down briefly during the day but pick up again at night. trees and power lines will likely be down. this is a widespread event, going up to northern california as well, even winds in nevada and utah. so, if you're traveling anywhere out there, obviously living out there, you know what i'm talking about. you're going to have to deal with this for the next 24 to 36 hours. east of the mississippi, we are looking at more tranquil conditions, although it will be breezy across the i-95 corridor, a little bit warmer down across the south, although right now, carol, it is below freezing in the atl. for us southerners, that's cold! >> that's like hell, isn't it? wow. thank you very much, rob. >> all right, see you in a few. new developments out of afghanistan involving a woman who was raped and then jailed. her story has garnered so much international attention, but now president karzai is calling hfo a high-level meeting today about the case. zain verjee join us from london. is there any hope for this woman

now? >> reporter: there is, because there is a petition out with more than 5,000 signatures, and the afghan president, hamid karzai, is in a position to pardon her, is how they're looking at it, even though it's got so much international attention, and it's really outrageous. this woman's name is gulnaz, and a couple years ago, she was raped by a cousin's husband. then she went to the police to report it. they accused her of adultery and then jailed her for 12 years. the sentence was then reduced to three years. and now she's saying, look, even if i can get out of jail, i'll agree to marry my rapist to legitimize the daughter that she has and is bringing up in jail. so, there's so much pressure on hamid karzai right now to just, as president, just let her go and just meet with a judiciary and forget about any afghan tribal laws. >> okay, we'll be following that story to see what happens. let's switch gears and talk about the former imf chief,

dominique strauss-khan. he's really written a book? >> reporter: he's got someone else to write his side for him. it's a biographer, and the book is out and it's called "dsk affairs: the counter investigation." and in it, it refers to the may 14th incident at the hotel in new york city. the book, a couple of things it calls his relationship with the chamber maid in the hotel consensual but stupid, and he also describes her as giving him a look when he hopped out naked from the shower. and then also, he says that he did participate in sex parties but that he appalls prostitution. carol. >> among other things, i'm sure. wow! zain verjee, thanks so much. still ahead on "am wake-up call," a reason to celebrate on wall street as the dow surges past the 10,000 mark. can we expect the same today and what sparked the rally? we'll talk about that on the other side of the break.

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a massive rally on wall street. the dow surged 490 points, posting its biggest one-day point and percentage gain this year. the nasdaq and s&p also closed

up more than 4%. the rally came after the federal reserve said it will work with other central banks to support the global economy. so, why did they do it, and is this just a giant band-aid? christine romans is with me now to explain it all. so, is this a good or a bad thing? >> well, it's a good thing. it's a good thing because you've got global central banks stepping in, carol, and saying that we're not going to let the funding dry up, we're not going to let a credit crisis like we saw in 2008 afflict the european banks. and so, that is a good thing, but it doesn't fix the underlying problem, which is the sovereign debt crisis and a lack of political unity yet in europe on how to fix it. so, this is, yes, it's a band-aid, but boy, you really needed that band-aid, and it's a band-aid that resulted in a 490-point rally in the dow jones industrial average. i mean, a huge, huge move. i mean, we went, carol, from last week being i think the worst week, worst thanksgiving week for stocks since the great

depression until now this being the best start of a week, you know, in three years. so, it just shows you how crazy and wild and volatile the situation is. and the reason it is that way is because it's a very big, very important matter that the world is trying to resolve right now. you saw big moves also for metals. i mean, you also saw natural resources move up sharply, oil back above $100 a barrel. so, a lot of different moves in a lot of different markets. the question i'm really, really excited to see is does it last today? if it does last and you can hold on to some of these gains, i mean, what is that saying about what the world thinks will happen with policymakers and how they will fix these problems? or we see a little bit of sell-off, we just don't know yet. >> i know it's tough to get excited about this, because we've seen it before, frankly, and it tanks the next two days. >> well, you know, we haven't seen a move like this in three years. i mean, this is really -- this is a little trick. what's happening right here, this volatility from last week to this week has been pretty extreme, and it's because of an

extreme dangerous that's flashing these danger signs and policymakers are responding. so, you've got two different schools of thought here -- we're really in trouble, or we're in so much trouble that the markets are saying, you know what, policymakers are not going to let this go down, they're not going to let us go down the road we did in 2008. they're going to have to find a solution, and that's at least what we were hearing yesterday. >> all right, we'll talk about it more on "american morning." christine romans, thank you. a mail mix-up may be keeping you from getting your tax refund. the irs still owes more than 99,000 americans their refunds for this year. that's about $153 million in unclaimed cash. the irs says some checks weren't delivered because they had the wrong mailing address. americans are giving up $34 billion worth of vacation days, this according to a new survey by expedia. the average worker earned about 14 days this year but will only

use 12 of them. the biggest reason? the survey found most people said they couldn't afford a vacation, so they just went to work instead. we're working several stories for the 5:30 eastern half hour. herman cain is sticking to his talking points as everyone waits for the outcome of his campaign's reassessment. and another man is coming forward claiming he was sexually abused by former penn state coach jerry sandusky, but he's not stopping there. 26 minutes after the hour.

how far we've come, how little we still really know. the president and two former presidents taking part in the effort to educate on this world

aids day. this is your "am wake-up call." and good morning to you. this is your "am wake-up call" for thursday, december 1st from the time warner center in new york. i'm carol costello. here are this morning's top stories. think of it as the wave seen around the world. investors celebrating the federal reserve's move to prop up the global economy. the dow surged almost 500 points yesterday. asian markets soared overnight. but it looks like the wave is dying down. european markets are mixed this morning. dow futures are lower. herman cain's campaign may be dying down, but not without a fight. cain told cnn's jim acosta that a final decision will come in the next few days. last night in ohio, cain told a crowd of supporters that he was the victim of character assassination. stay tuned. a milestone in the war in iraq, a ceremony in baghdad to commemorate the accomplishments and sacrifices of coalition and

iraqi troops. vice president joe biden was there. u.s. troops, of course, now in the process of moving out of iraq. let's head to atlanta and get a check on the weather. good morning, rob marciano. >> good morning, carol. here are the temperatures that people are waking up to across the country. in some spots, chillier than yesterday. actually, in a lot of spots. 38 degrees right now in new york city, 41 after temperatures at this time yesterday were in the 50s and close to 60 in maine. so, we're starting to get back to normal there, but still chilly down across the south. 30 in atlanta, 35 memphis. these are the numbers expected later today, so warm-up where it should be, down south, 61 degrees. 50 degrees in new york city. the other big story is the big storm and wind event out west. this is from nevada, utah, down across parts of arizona, and especially southern california, where winds overnight have been gusting over 100 miles an hour. they'll calm down briefly today and then come back again tonight, and there are power outages, flights were diverted at l.a.x., and we may have the same deal happening again today. los angeles, vegas, strong winds

there, san francisco as well. no fog this morning. and delays expected probably over an hour, if not worse than that, and some winds lighter than that across parts of the new york metros if you are doing some travel today. more weather updates in about 15 minutes. carol, back to you. >> we'll be here. thank you, rob. what a difference a day makes. stocks around the world surging this morning after a move by the federal reserve and other central banks to stabilize the financial system. global markets following wall street's lead, keeping the rally going right now. markets in japan, hong kong, london all higher. the dow gained 490 points yesterday, the biggest rally of 2011 and the best percentage gain since march of 2009. new data on car sales and manufacturing could keep the rally going today, but right now, u.s. futures are down. we now know, we could hear a decision on whether herman cain will go on. it could be just hours away. the two big factors -- how mrs. cain feels and whether the growing sex scandal has derailed the cain money train. cnn political correspondent jim

acosta is following the candidate for us this morning. >> reporter: carol, when we asked herman cain whether he is staying in this race, he did not give us a direct response. it is a sign that his campaign at this point is up in the air. >> we want cain! [ chanting ] >> reporter: the crowd was in a fighting mood, and so was the candidate. >> they want you to believe that with enough character assassination on me that i will drop out. >> no! >> they -- >> reporter: but in a fiery speech, that was as close as herman cain came to talking about the accusations of marital infidelity that now threaten his campaign. conservative businessman did not deny the allegations as he has this week, and he made no promises to stay in the race. >> one of the reasons that they want to try and shoot me down and tear me down is because of the strength of my message that's resonating with the

american people. >> reporter: but he accused unnamed political forces of trying to block his quest for the gop nomination. >> the establishment does not want herman cain to get this nomination. the liberals do not want herman cain to get this nomination. but i happen to believe that the american people have a different idea. >> reporter: after the speech, the man behind the 9-9-9 tax plan sounded 50/50 on whether he will remain a candidate. mr. cain, mr. cain, jim acosta with cnn. are you vowing to stay in this race, is that your message? >> we are assessing and re-evaluating. >> reporter: are you staying in the race? >> we are re-evaluating and reassessing. >> reporter: how soon until we have a final answer on your future plans? >> we'll be making a decision in the next several days. >> reporter: supporters at the event were still lining up for yard signs long after the candidate was gone. diane phillips questioned whether the allegations dogging cain's campaign are true. >> what is a woman in his background compared to all the socialists and communists and

whatever that were in obama's background? they elected him, so i don't worry about that woman as much as i do the theology and the ideology of the man. i want him in there. >> reporter: either way, carla krieger said it won't change her vote. >> i don't know whether it's true or not. but i still hope he keeps on fighting. >> reporter: cain's campaign strategy is as mysterious as his future. he just spent a full day barn storming through ohio, a state that doesn't hold its primary until june 12th, a full six months after the iowa caucuses. carol? >> thank you, jim acosta. so, cain is still on the trail, for now, but will he bail? to talk more about this, let's bring in "politico's" senior political writer maggie haberman. good morning, maggie. >> good morning. >> okay, so, herman cain says he's going to meet with his wife face to face on friday and make a final decision. your best guess as to what that decision might be. >> my best guess is that herman cain is not going to be staying in this race. you know, he has said all along

that he would leave the race if it became too much for his wife. it is hard to see how this is not too much for his wife. that having been said, one of the odder things about these last few days has been watching herman cain quite literally publicly muse about whether he's staying in the race. that does tend to dampen your support at a certain point. a lot of strategists have said this. it's not a novel concept. i think herman cain's campaign is in a lot of trouble, whether he drops out or not. >> well, the odd thing, he released this campaign ad in iowa. he's not campaigning in iowa itself, but he did release this campaign ad that's going to start to run in iowa. >> yes, he's -- well, so they say. they say it's going to start on friday with a very small buy of statewide cable, not very small, but it's not huge, but at $80,000 over the course of a week, it's enough to maintain some kind of assurance of a presence. it's not dominance, and it certainly doesn't show

tremendous campaign cash. it doesn't mean that he has staying power. i think it means that there is some kind of a division going on certainly among his advisers, definitely within cain himself about whether he ought to stay on. he is, as you said, he has not been in iowa, you know, very much at all. he was supposed to be coming back for a series of appearances in december. but again, i think that this weekend, you know, we may see something. >> okay, let's switch gears and talk about newt gingrich. and specifically, the new jersey governor chris christi. he says the obama campaign is clearly afraid of mitt romney. he's predicting romney will be the gop nominee, certainly not newt gingrich. let's listen. >> what governor romney has shown over a period of time is that he is a strong and steady core of supporters who understand who he is and what he stands for. and i believe that type of steadiness and that type of consistency is going to lead to him being our party's nominee.

and other candidates as well-meaning or as talented as they may be, other than governor romney, have been, as the governor put it, on a roller coaster ride. >> and of course, he's talking about newt gingrich there. you know, he talks about mitt romney's slow and -- or steady support, i should say, but it's not passionate support. does that matter? is chris christi right? >> i think there is certainly a potential issue in terms of passion, but i'm not sure chris christi is right in terms of newt gingrich. i think newt gingrich is a very famous former house speaker and icon for conservatives. mitt romney's campaign or mitt romney himself is now set to start arguing that newt gingrich is not a consistent conservative, has not been consistent at all. and i think you'll see them highlighting his record. that having been said, the impression of him is that he is very conservative, and he also fires up a crowd. he is well-received. he has a very, very, you know, warm personality toward crowds. he is able to really engage

them. this is not something that romney does very well, and if this comes down to a contrast of styles, that will not favor mitt romney. that having been said, newt gingrich does not have organization in any real way. you do need organization in order to win repeated states over the course of a lengthy campaign and a fight for delegates at the end convention. that is obviously where mitt romney is better positioned. >> maggie haberman from politico.com, thanks for joining us this morning. we appreciate it. the first lawsuit has been filed in the penn state sex abuse scandal and it's coming from a new accuser not included in the criminal charges. the lawsuit claims jerry sandusky abused the boy more than 100 times and threatened to harm his family if he didn't keep quiet. the victim, now 29, also claims that sandusky's abuse began well before authorities think it began, and the suit also names sanduskiy's second mile charity and penn state university. hundreds of family and friends crowding a church near atlanta for the funeral of a florida a&m drum major. the pastor urging the crowd to

stop the foolish hazing that may have killed him. robert champion, a 26-year-old junior, was found dead on a bus after one of the school's football games in orlando. the school fired the director of the marching 100, one of the most well-known marching bands in the nation. champion's family is now suing the school, saying it wants to end the culture of cover-up of hazing there. day two of hearings set for the man who shot president reagan. lawyers for john hinckley jr. fighting for his freedom, saying he's not dangerous and should be eventually released from a government mental hospital, but government lawyers say he's still capable of great violence and recently went to a book store to look up information on presidential assassinations during a visit to his mom's home in virginia. the pastor to presidents, the reverend billy graham is in a north carolina hospital this morning. the 93-year-old evangelist is being monitored and treated for possible pneumonia. graham has met with 12 presidents dating back to harry trum truman. he's also preached the gospel to more than 215 million people in

more than 185 countries. his last crusade in 2005 drew 230,000 people. let's head to atlanta -- oh, actually, let's not. let's get a check of what's coming up at the top of the hour on "american morning." let's head to christine romans. good morning. >> let's head down the hall to christine romans. >> that's right. >> coming up in 20 minutes on "american morning," we'll talk to an american man who's fighting for custody of two boys he adopted legally. there they are. he says colombian authorities refuse to let him bring his sons home when they found out he was gay. a troubling stat on world aids day that three out of four hiv-positive americans don't have this disease under control. is it a matter of money, education, or maybe both? and the occupy office. wall street protesters now setting up shop inside an old bank. that's right. after they were evicted from zuccotti park in lower manhattan, wall street prote protesters in cubicles now.

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45 minutes past the hour. here's what we're working on this morning. second thoughts for gop presidential hopeful herman cain. >> we are reassessing and re-evaluating. >> that's cain talking to cnn political correspondent jim acosta. cain says he'll decide whether to move forward in his bid for the white house on friday. stunning images of a plane crash at boeing field in washington. the small aircraft began to take off but crashed back down, hitting an unmanned, parked plane and flipping over. both planes caught fire. two people were inside the cockpit but managed to walk away with minor injuries. in money news, investors cheered on wall street after central banks made a move to support the global economy and contain the eurozone crisis. all three major indexes closed

up more than 4%. the dow's 400-point gain is the largest this year. in sports, let the bidding wars begin. former tv host larry king joining in on the effort to buy the los angeles dodgers. king says he's been a fan of the team since he was a kid. it would be a thrill, he says, to be a partial owner. i'd be thrilled to partially own a baseball team, too, wouldn't you, rob? of course! are you kidding me? question is, where do you have spring training? that's where the party begins. >> yeah. my thing would be the money. >> well, you need the money, that's true. what you have in your pocket and what i have in my pocket probably isn't going to fit the bill. big-time winds -- speaking of sports, nfl may finally get a team again in los angeles. that's where the winds are blowing. they blew last night and these are just some of the wind gusts in the more populated areas. in los angeles proper, 47, santa monica seeing 36-mile-per-hour wind gusts. at higher peaks, we've seen well over 100 miles per hour.

power outages in spots, even along the coast and l.a.x. saw some flights diverted last night. that may happen again today. big event out there. it also includes nevada and parts of utah as well. daytime highs as you see them, a little cooler across the northeast. do want to point this out -- yesterday, the last day of hurricane season, we had an above-average year, 19 storms, 7 hurricanes and 3 major hurricanes with 3 landfalling storms across the u.s. still, no major hurricane making landfall since 2005. that's a pretty long streak, so we can count our blessings there. carol, back over to you. >> yes, we can. thank you, rob. >> okay. a tribute ceremony in iraq. iraqi officials honoring american soldiers and coalition forces for their service in baghdad. this just weeks before u.s. troops withdraw completely. we're joined now by zain verjee live in london. good morning, zain. >> reporter: good morning to you, carol. this is a pretty historic day and an important tribute ceremony honoring u.s. troops, iraqi troops and troops from any

other country that have fought the insurgency in iraq since the fall of saddam hussein. this is a really big deal, something like 11,000 u.s. troops still in iraq, and as the drawdown continues throughout the month of december, it's believed that there are only going to be about 150 or so u.s. troops left in iraq. so, a really important day, very symbolic, but this really marks the start, too, of a big, practical push to withdraw troops. >> on another topic, the suspect in the natalee holloway disappearance and her accused murderer, he's filing a lawsuit against chile. so, what's that about? >> reporter: yeah, yeah, this kind of took a lot of people by surprise. but essentially, he is suing chile over his extradition to peru. you'll remember that he is on trial in peru for killing a 21-year-old woman, stephany flores in a hotel room in lima and taking some of her credit

cards and then taking off. he was found in chile. what he's arguing and his lawyers are saying that chile did not actually have an international arrest warrant that would have allowed him to be extradited to peru. now, peru is saying that everything was in order, they had requested his arrest and contacted interpol in both peru and in chile. and what's happening is that van der sloot's lawyers are suing chile for $13 million. this is the dispute. who knows where it will go, but it is a surprising filing, and they're basing it on his human rights violation, is what the legal arguments are. carol? >> interesting. zain verjee live from london, thanks so much. coming up in the next hour of "american morning," china may be hiding a major secret about its nuclear capability deep under ground, but not everyone is convinced. the story's ahead. and have you ever heard of the holiday squeeze? well, we're right in the middle of it. details ahead in our travel

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it is music's biggest night, the 54th annual grammy's. so, which superstars scored the coveted nominations? award show veteran kanye west is leading the pack with seven nominations. surprisingly, he was shut out of the album of the year category, but the real show-stopper is

adele, getting six nods, along with one for record for song and for album of the year. bruno mars and into fighters also tied with six. the grammy's air in february. herman cain, as you know, is fighting to stay in the presidential race with a new campaign ad, and to no surprise, it's already been spoofed. here's your "punch line." >> cain is vowing to stay in the race. in fact, i couldn't believe this, today he started fighting back with a new campaign ad. check it out. >> jimmy carter never cheated on his wife and we had 7% unemployment and 14% inflation! bill clinton cheated on his wife every chance he could get, and we had only 4% unemployment, 1% inflation and a balanced budget. herman cain, because when presidents get laid, you get paid. >> let's talk about travel, shall we? if you're looking to get away before christmas gets here, now is a good time to squeeze in

a vacation. joining me now is gabe saglier with travelzoo.com. gabe, good morning. >> what a lead-in, huh? >> what a lead-in! let's talk about the deals that are out there, though. >> yeah, yeah. i call this a holiday squeeze. we traveled plenty in record numbers last week. a lot of us will travel christmas holiday and winter vacation time coming up, but right now is a great time to cash in on what is sort of a lull in the industry. there's great availability out there and some destinations have dramatic savings. ski season started in many locations a couple weeks ago and the first few weeks is actually when they offer some of the best savings. throughout the northeast, if you're in california, tahoe, mammoth and even some of the lucrative destinations in colorado like vail are offering the lowest prices all ski season. they'll go up in january and again in february and march. so, early ski bird -- early bird ski deals are out there to be

had. europe also becomes a bargain now. with all of the four-star hotels in places like london and paris, again, offering some of the best rates all year, and these are savings that start now, will go away for right about that christmas period, and then come back right after the first of the year. and then family-friendly destinations. look at orlando, look at southern california, look at the wisconsin dells. the kids are back in school for a little bit, so the availability for family-friendly destinations translates into some pretty good savings. >> excellent. so, what if you want to gift your loved one with a travel experience? what sorts of things should you watch out for? >> a lot of us look at perhaps buying our parents a couple of tickets to come home for the upcoming holiday season or you just want to give the gift of travel as a little stocking stuffer. a couple things to keep in mind. you have a couple ways to go. one is using miles. if you have enough miles to play with, this is probably the most economical way to go. usually for a domestic round-trip ticket, you're looking at about 20,000 to

50,000 miles. if you've got them, you can cash in on them with usually a pretty nominal transaction fee, anywhere from $5 to $10 usually. that's a good way to go. if you want to purchase miles for somebody, deposit them in their frequent flyer account, depending on the airline, there's a 2 to 4-cent cost per mile. if you're looking at 20,000 miles, that's several hundred dollars to buy the miles. use your own if you've got them, i say. another little-known fact is that a lot of airlines offer gift cards the way we're used to retail gift cards. usually they have no expiration dates, they don't cost you any money and you can buy them in different denominations, $50, $100, $1,500, if you're feeling particularly cheery, but you can gift them to the one you love and they can use them at their leisure usually through the airlines' websites. >> okay, thank you so much, greg saglie from travelzoo.com. >> thanks. that's it for this thursday edition of "am wake-up call." "american morning" continues right after a break.

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