now on vacation for a little while. >> you leave congress, but congress never really leaves the politician. # 0% disapproval, they have a lot of work to do to re-establish hair credibility. sglnd sgl >> and the clock is ticking in time for the next election season. good to see you. live from studio 7, i'm fredricka whitfield in for suzanne malveaux. let's get you up to speed. better than expected, that's the bottom line on today's highly anticipated monthly jobs report. the labor department says the economy added 117,000 jobs in july. the economists were expecting about 75,000. the unemployment rate ticked down slightly from 9.2% to 9.1%. and stocks rallied at the

opening bell after the better than expected jobs report, but it has been up and down this morning. the dow is coming off yesterday's steep plunge right now, take a look, the dow down just about 24 points. of course we'll be watching the markets throughout the day. we'll get president obama's take on the july jobs report in a speech that begins any minute now. besides reacting to the unemployment numbers, the president is unveiling a new initiative to help military veterans find work. he is trying to shift the focus back to jobs after the drawn out drama over the debt ceiling. live pictures right now of the washington navy yard. when the president arrive, we'll take that live. u.s. defense secretary leon panetta is fighting to protect his budget from deeper cuts. he says the $400 billion being slashed from the pentagon's budget under the new debt reduction bill is, quote, manageable. but panetta warns if further cuts are triggered automatically

by the deal, it could cause real damage to national security. he was asked if he would resign over it. >> i didn't come into this job to quit, kay into this job to fight and my intention it to fight to make sure that hopefully some common sense prevails here. and at this hour, a jury in texas is hearing testimony in the penalty phase of the warren jeffs sexual assault trial. he was found guilty of sexually assaulting two girls ages 12 and 15. jeffs could face life in prison. and protesters in syria are chanting god is with us. that's the theme of comm demonstrations across the country today. new violence is raging.

government sni snipers and tanks. hillary clinton says syria's government is responsible for more than 2,000 deaths since the unrest started mid march. and back in this cup, oppressive heat from new mexico to north carolina. more than a dozen states are sweltering through another brutally hot day. texas is right in the middle of it all. july was the hottest month ever recorded in the state. with air conditioners on full blast, electricity use has surged. and some utilities are actually asking customers to conserve right now on power. so we want to take a closer look right now on the better than expected jobs report for july and the stock market's reaction. the dow rallied at the open after yesterday's 512 point free-fall. alison kosik, let's start with the jobs report. break it down for us. >> we saw the reaction on wall street, we saw the dow jump as

much as 172 points on that better than expected jobs report. that showed that 117,000 jobs were added last month. the unemployment rate ticked down to 9.1%, as well. and where were those jobs added? we saw jobs added in manufacturing, in health care, in hospitality, but we also saw jobs lost in government. 37,000. what you're looking at there is sort of the progression of the first half of the year of how many jobs were added. we saw more jobs added in february, march and april. you saw it trickled lower, although those were revised higher in this report that we got yesterday. and of course it's 117,000, definitely better than wall street expected. >> and a serious see saw of the numbers on the markets this morning shortly after they opened. what's happening right now? >> we're seeing more volatility. the dow is down about 58 points. we're watch of watching stocks move from gains and losses very quickly. even though we got a strong government jobs report, the

realities of the weakness in the economy are still there, there are still worries about the european debt issues. that is also what wall street is focused on right now. >> alison kosik, thanks so much. appreciate that. here is a rundown of some of the stories we're covering. first, whether you're planning to retire soon or 20 years down the line, what to do or not to do with your 401(k) in this volatile stock market. and then the brutal summer heat forces people to take desperate measures. also, shocking violence captured on camera in syria. the latest on the government's bloody crackdown against demonstrators. and they spent two months trapped under ground. we'll tell you what the chilean miners are doing after that emotional mine collapse rescue. woman: day care can be expensive.

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[ male announcer ] want to pump up your gas mileage? come to meineke for our free fuel-efficiency check and you'll say...my money. my choice. my meineke. want to show you live pictures of the washington navy yard. in that room president obama will soon be taking to the podium. he'll be talking about jobs for our military vets and likely he'll be responding on today's jobs report. it was encouraging, not as bad as some thought it was going to be, but certainly not as encouraging as programs the white house would have wanted. but we'll be tuning in on that at the navy yard momentarily. let's go back to the morning stock exchange. we'll continue to watch the markets. some encouraging numbers as a result of the jobs numbers. and you've been talking to a lot of traders who have in large part a lot of analysts have been

talking about fear being something that has driven the dow drop particularly earlier this week including yesterday. >> exactly. so i wanted to bring in a little bit more perspective with a trader here on the floor. what about this fear in the marketplace, what about the volatility we're see dag? >> you' >> you'll see it because of the last couple days. we br through key technical levels and very decisively. the market is in a funny place. we're kind of in the middle. so it needs to find its way. so you have a report like this morning which was much better than the treat expected, you saw a big explosion at the opening, but now you see the market has sold off, we're down because the market is trying to find a new level, trying to find out where it can start to build support again. >> and what about summer months? summer months are usually slower. so much for those hampton's

vacations. >> august could be quite a busy month because we have all this news out there and people are clearly concerned. and what we saw especially yesterday, we saw much bigger anticipation. volume exploded, we traded off 7.5 billion shares. and you have real participation from some of the larger asset managers that have been sitting on the sidelines waiting to assess what the outlook really looks like. >> unfortunately today, they're selling again. >> they were buying this morning, they're selling today, and all that really tells you is they're moving assets around and, again, because we broke some technical levels and the market is in this funny spot, it means asset managers are doing a reevaluation and they're repricing different sectors. >> so overall, just sort of bottom line, a readjustment in stock prices to match what you're seeing in the overall economy. >> all right, thanks so much. we'll which can back wicheck bat

it tearily. we're continuing to watch the washington navy yard, so we may have to enter represeinterrupt segment and go to the president. it is hard not toen paic when you watch the stock market plunge more than 500 points in a single day. most of us are worried about our 401s and other invest chlts, but money experts say don't panic. here is what author and economist ben stein had to say on cnn's in the arena. . >> it's a large point drop, not a particularly enormous percentage drop. we've had a fantastic stock market recovery from the lows. we may very well be heading for 00 a. doub a. double dip recess, but so far things are not that terrible. >> so what should you do to ride out the wild swings in the market? joining us again clyde anderson. good to see you. people are a little nervous right now. what kind of advice would you give them about their 401(k)s and what to do and what to move? >> the first thing is not to

react. don't just react to the things that you hear in the market and the news. people react from the headline. so don't react. look and know what you have. what's in your portfolio? diversification is the key. so make sure you're spread out a little bit. >> so you really need to have your financial house in order. >> in order. exactly. so the next part of that is having a plan. most of us don't have a plan. we allow someone else to do it, so we don't know what's in the plan. we just know it's a 401(k). so we need to have some -- what are my goals based on my age, based on when i want to retire. >> the past two years have been hard on 401(k)s. they're getting hit again over the past few weeks. so if you are in your 60s and you're planning on that 401(k), what do you advise people in their 60s and what kind of

adjustments do they need to make? >> how much money do you need to live? and once you know that number, it helps you to determine where am i right now, do i have enough right now. do i even want to take will risk going further. do you want to have the sleepless nights and worry about it. maybe a cd or something that -- it may not earn you a lot of additional income, but you want to know that you have enough to live on. so it won't be the same thing that will have a high yield of interest, because lot more stability. >> your 40s or 30s, what do you do? >> you have time to go in and mess up and regain that money once again. so i would say be realistic. know what you have. so still don't go into this blindly. look at smome index funds, and also tech stocks and other things that could give me high yield gains. so diversify, but also make sure that i know my risk tolerance and i'm playing the game.

because takes game at tit is a of the day. collilyde anderson, thanks much. we're waiting to hear from the president obama to speak about the jobs report and a veterans report. president obama to take the microphone there very soon at the washington navy yard. of course when that happens, we'll take that live. in texas now, a heat wave death that probably could have been prevented. an older woman in dallas died after someone stole her air conditioner. her friends and neighbors are fighting mad about it. to those always searching for what's pure and what's real from we who believe we know just how you feel. haagen-dazs. from we who believe we know just how you feel. the eagle flies at dawn. the monkey eats custard. price-line ne-go-ti-a-tor.

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the washington navy yard right there, admiral mike mullen speaking. momentarily president obama will be entering the room and he, too, will be taking to the microphones talking with a jobs program for military vets and of course likely responding to today's news about i guess encouraging news about the u.s. job markets, as well. meantime, you can't escape the heat. it's everywhere. and it really is pretty unbearable for many people. rob marciano, we better figure out ways to live with it. >> we're into august now and august especially as we get in the next couple weeks is cooler than july. folks across the northeast, you're done with the heat at least. folks who live in atlanta, it's not quite done yet. we're not out of the heat advisories that have been plaguing much of the south. that has been reserved for folks who live dallas to oklahoma city where temperatures right now

feel like they're well up over 90 degrees. but they'll get into the 100s easily. wichita falls have had a streak of 100s. these are some of the more populated areas. we'll probably see similar numbers. may cool down a touch. 10 108 expected high in dallas. tomorrow we cool it down to 107. keep in mind these temperatures are measured in the shade. and these don't and you can about humidity. 106 expected in dallas. the longer term effects here, try to break down the ridge. we'll do that a little bit as we get towards next week. the northeast will see the cool air, the western great lakes, as well, and we'll try to squash it. that enmoose the temperature will get cooled down to maybe 99 or 100. so we'll still be in record breaking areas. one way to cool off, take a look

at this beautiful barefootage. everybody in the pool, baby. this is northern wisconsin. and if you're a black bear with that thick coat of fur, this is the backyard of somebody's house, it's for kids typically, but -- >> i was going to say, mama and baby bears are there. is that mama in there or are they all kiddies? >> i don't know if mom will fit in there, but nonetheless, they are smart bears trying to stay cool. >> thanks so much, rob. as promised, let's go to washington navy yard where president obama is there about to reveal more on a jobs incentive program for military vets. let's listens in.

he's also likely to talk about today and he job numbers. unclear what the pause all did there pe -- now you can hear in the back ground that is why. let's listen in. >> thank you very much, everybody. good morning. i'm glad somebody told me that was the last one because i had lost count. it is great to be here at the navy yard and, first of all, i want to thank admiral mullen for being here and for his four decades of extraordinary service

to this country. and i want to thank him for saying that for an old guy, i look okay. i appreciate that. this may be one of the oldest ship yards in the united states. but today, it's used to develop some of the most advanced technology in the military. although i hear your engineers are still working on a solution to the traffic when the nationals are playing. that's not ready yet. let me start by saying a few words about our economy. there is no doubt this has been a tumultuous year. we've weathered the arab springs effect on oil and gas prices, the japanese earthquake and tsunami's effect on supply chains, the extra ordinary economic uncertainty in europe, and recently markets around the

globe have taken a bumpy ride. my concern right now, my singular focus, is the american people getting the unemployed back on the job, lifting their wages, rebuilding that sense of security the middle class has felt slipping away for years. and helping them recover fully as families and as communities from the worst recession that any of us have ever seen. today we know that our economy created 154,000 new private sector jobs in july. it th this marks the 17th month in a row of job growth in the private sector. nearly 2.5 million new private sector jobs in it all. we have to create more jobs than

that each month to make up for the more than 8 million jobs that the recession claimed. we need to create a self sustaining cycle where people are spending and companies are hiring and our economy is growing. we've known that will take some time. but what i want the american people and our partners around the world to know is this. we are going to get through this. things will get better. we'll get there together. the bipartisan xho mcompromise deficit reduction was important in terms of putting us on sounder fiscal footing going forward, but let's be honest. the process was divisive, it was delayed. if we want our businesses to have the confidence they need it on get the cash off the sidelines and invest and hire, we got to do better than it that. we have to be able to work together to grow the economy right now and strengthen our long term finances.

that's what the american people expect of us. leaders that can put aside our differences to meet our challenges. so when congress gets back in september, i want to move quickly on things that will help the economy create jobs right now. extending the payroll tax droed put $1,000 in the pockets of the average worker, extending unemployment insurance to help people get back on their feet, putting construction workers back to work rebuilding plerk. those are all steps we can take right how that will make a difference and there is no contradiction between us taking steps to put people to work right now and getting our long term fiscal house in order. in fact, the more we grow, the easier it will be to reduce our deficits. both parties share power. both parties share responsibility for our log. moving our economy and our country forward is not a

democratic or republican responsibility, it is -- it's not a public or private responsibility, it is the responsibility of all americans. it's in our nature to do the tough things when necessary. to do the right things when called. that's the spirit that washington needs right now. it's also the kind of spirit found in the men and women who proudly serve in our country's uniform. it's the spirit that endures long after they take those uniforms off. today's veterans are americans who have done their duty. they have fought our wars with valor in the jungles of vietnam to the mountains of afghanistan and they include the members of today's military, the 9/11 generation, some of whom are here today. who volunteered to serve at a time of war knowing they would be sent into harm's way.

to these men and women, i want to say that all of you have served our country with honor. over the last decade, you've performed heroically and done everything we have asked of you in some of the most dangerous places on the planet. your generation has earned a special place in american history. today nearly 3 million have a ordinary sextraordinary service members have completed their service and made the transition back to civilian life. they've taken their leadership experience, their ability to adapt to changing ser circumstances and they've become leaders here at home. just think about how many veterans have led their comrades on life and death missions by the time they were 25 years old. that's the kind of responsibility and experience that any business in america should want to take advantage

of. these veterans are already making an impact making companies and communities stronger, but for every success story, there are also stories of veterans who come home and struggle to find a job worthy of their experience and worthy of hair talent. veterans like nicole ma nick co. over the course of his deployment, nehe saved the lifef a french shoulderier who was shot in the head and helped 42 people escape from a flooding river. he earned a bronze star for his actions. s classes he easily could have taught just so he could qualify for the same duties at home that he was doing every single day in

afghanistan. veterans like maria pinellas, she was a financial specialist in the army helping to provide financial support for her unit in iraq. ed when she got home, she finished earning her degree in business management. but even with her education and her experience in the army, maria still couldn't find a steady working job in accounting or finance. that isn't right. it doesn't make any sense. not our veterans, not for the strength of our country. if you can save a life in afghanistan, you can save a life in an ambulance in wyoming. if you can oversee millions of dollars in assets in iraq, you can help a business balance its books here at home. our incredible service men and women need to know that america values them not simply for what they can do in uniform, but for

what they can do when they come home. we need them to keep making america strong. our companies need skilled workers like our veterans to grow. there's no reason why we can't connect the two. keeping our commitments to our veterans has been one of my top priorities as commander in chief and that includes helping them make the transition back to civilian life. that's why we're fully funding the post-9/11 gi bill that is helps more than 500,000 veterans and their family members pursue a college education. that's why we supported extending the bill to include noncollege degrees and on the job apprenticeship training. that's why i directed the federal government to be a model employer and hire more veterans, including more than 100,000 in the past year and a half alone. so today, we're taking it a tstp

further. we need to do more to make the transition easier for our veterans. that's why i'm directing the departments of defense and veterans affairs to design what we're calling a reverse boot camp. the problem is that right now we spend months preparing our men and women for life in the military, but we spend much less time preparing them for life after they get out. so we'll devote more time on the back end to help our veterans learn about everything from benefits to how they can translate their military training into an industry accepted credential. in addition, we'll make it easier for veterans to go to their local one-stop career center and get help pursuing a career that fits them best. these steps will help bridge part of the gap between veterans looking for work and companies looking to hire. but that's only part of the

equation. the other half is about encouraging companies to do their part. and that's why i'm proposing a new returning heros tax credit for companies that hire unemployed veterans. and i'm proposing an increase in the existing tax credit for companies who hire unemployed veterans with a disability. who still have so much to offer our country. and finally, we're challenging the private sector to hire or train 100,000 unemployed post-9/11 veterans or their spouses by the end of 2013. this builds on commitments that many companies have already made as part of the joining forces campaign championed by my wife michelle and dr. jill biden. recently met their goal of hiring veterans, so they're aiming to hire 150 by december. microsoft is helping more than 10,000 veterans get i.t.

certified over the next two years. and today groups from the u.s. chamber of commerce to accenture to lockheed martin have all agreed to do their part to help veterans get back in the workforce. the bottom line is this. we still have a long way to go and a lot of work to do to give folks the economic security and opportunity they deserve. and that begins with connecting americans looking for work including our veterans with employers looking to hire. over the last few years, another generation of young veterans has learned that the challenges don't end in kandahar or baghdad. they continue right here at home. today we're saying to our veterans you fought for us and now we're fighting for you. for the jobs and opportunities that you need to keep your family strong and to keep america competitive in the 21th century. and at a time when there is so much work to be done in this country.

we need everyone's help to do it. so thank you. god bless you. and god bless all other services. and god bless the united states of america. >> president barack obama there at the washington navy yard pledging this, saying, "you fought for us and now we're fighting for you" and it pertains to unveiling some programs to help military veterans transition into civilian life. he said for one, there will be a reverse boot camp and there will also be a tax credit to companies that employ vets and vets with disabilities. and just before that, he also of course responded to the job market saying he's offering reassurance to the world that the u.s. will be getting back on track. he says that we as a nation do need to create more jobs, the 154,000 private sector job growth experienced in the last month is encouraging, the best

since april, but he says this message to the world, he wants the partners around the world to know that it will get better. president barack obama there at the washington navy yard. meantime in the 1:00 hour eastern time, randi kaye will talk live with two veterans, one meeting with president obama today. we'll get their take on the president's plan to better prepare vets for the workforce. and the july jobs report beyond the number, we'll talk with an economist about what the report means for the overall economy and we're watching the markets minute by minute after idea's big sell off. right now the dow down by 70 points. now it's rebounded a little bit, down 59 points. we'll keep watching that for you. it's me? alright emma, i know it's not your favorite but it's time for your medicine, okay? you ready? one, two, three. [ both ] ♪ emma, emma bo-bemma ♪ banana-fana-fo-femma

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so what head the markets to tank so badly yesterday beyond our own economic troubles? there's a crisis of confidence

around the world. andrew stevens joining us now from hong kong to explain. so andrew, we know the u.s. is not living in a vacuum. how is the european debt crisis affecting the u.s. market and why now? >> well, as you say, we're not living in a vacuum. and everything now is so interrelated. so when you're investing in europe and you see this massive -- we talk about the crisis of confidence. the fact that the european policymakers cannot get to grips with this debt crisis which now may be threatening the world or europe's third biggest economy, that sends shatters through the investment community worldwide. you're of that still a huge consumer. the markets here in asia tanking today, down by 4% on average. and that was because consumers in the european countries are worried about what's going on, they feel that they're not --

they don't have a chance really to see economic growth, so that is affecting asian investors and manufacturers as it is the u.s., as well. so this whole thing revolves right around the world. if you look across the market, all the major markets are down. over the past two weeks, it's been the biggest selloff since november of 2008 which gives you an idea of just how it's all connected. >> and specifically india, those stocks fell something like 2%. what's the explanation behind that and why does that make some nervous? >> india is an interesting case because if you remember back to 2008 when we're on the brink of the abyss, the global economy, the banking system virtually frozen up, india wasn't badly affected because it is a very closed economy. what they're saying now, it's becoming part of global community. so india is feeling the effects

of the weightless in the u.s. the u.s. economy is still the biggest buyer, still the biggest economy in the world. this asia is still the manufacturing center of the world. so if nobody is buying in the u.s., that affects asia which you includes india. >> we know that the u.s. dollar has lost a lot of its steam in the past couple of years. but now we're talking about the euro might be in trouble. what is going to determine the strength or weakness of the u.s. dollar versus the euro? >> i think with the euro everybody is getting out of the dollar at the moment, and they're looking for other safe haven or other currencies on to get into. and it's a relative question really, is the euro zone a safer place to be than the u.s. at the moment. and there hasn't been an active policy in the u.s. to get the dollar down, but certainly it's been moving down to try to get the u.s. to eximportant its way out of trouble. so there's a lot of money, they're looking at other

currencies. the euro zone, euro bonds are still highly rated, so that's why putting value to the euro, as well. the yen is strong because the dollar is weak. the yen is seen as a safe haven. the japanese economy is in a real state at the moment. it's weakening once again, the japan economy is in a bad place for like 20 years now, but japan is seen as a country that will repay its debts, so you put your money where you think it's safest to weather this sort of storm. >> andrew stevens out of hong kong. thanks so much. also stocks bounce after this this morning's jobs report but now they're down again. the dow down some 93 points. it keeps fluctuating back and forth. we'll take a closer look at the employment picture after this. s change the way we're thinking about them. a couple decades ago, we didn't even realize just how much natural gas was trapped in rocks thousands of feet below us.

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so a better than expected

jobs report has eased some fears that contributed to yesterday's stock market plunge. the economy added 117,000 jobs. so that led to a rally at the opening bell. right now the dow is down 92 points. but anything can happen. it could go right back up just as we saw a few hours ago. joining us to talk about the unemployment numbers is thomas danny boston from georgia tech. so what is your assessment of this jobs report number? much more encouraging than a lot of people expected. and we saw a spike in manufacturing, retail manufacturing jobs. and health care. >> absolutely. much greater than what we had expected. the importance of which is it kind of put a brake on this downward spiral and expectations, so it's just what we needed. now, again, it doesn't get us to the amount of jobs that we need

to lower the unemployment, but, again, it indicates that there is strength in the economy. and that that's something that we can build on. >> it does seem like a real contradiction. while some people are celebrating a spike in the jobs, however you c however, the unemployment rate did dip to 9.1%. >> and it dipped to 9.1% mainly because the size of the labor force contracted. that is, there were a significant number of people who dropped out of the labor market and became discouraged. they're not counted among the unemployed. so that's why we get a decrease in the unemployment rate, but nonetheless, it was significant that we did gain a lot more jobs than we had anticipated and had things for example shut down in minnesota and others that subtracted -- >> lots of government jobs have taken a real big hit while private sector jobs have enjoyed a spike. government jobs not the case. minnesota being a big reason why. >> right. that's a big part of the loss of

government jobs. and if you add that on to the private sector job, we would have been close to somewhere around 175,000, close to 200,000. which a good number. >> so when you talk about government jobs, you're talking mostly state and municipalities? >> state, local and federal jobs. all wrapped up in there. >> so what are the signs you'll be looking for to see that a double dip recession is completely unavoidable? 20 seconds. >> confidence, confidence, confidence. things have to build confidence. we have to look for whether or not the corporate sector will get off some of its cash and start spending, whether something will happen in the housing sector. we need more stability he government level so these arguments don't spook markets and we need to see that the situation in the euro zone is settling down. so generally we need confidence. the conditions for growth are there.

there's enough capital to grow. it's not a shortage of money. there's enough spending power to grow. people are saving more. we just need to get them to spend and invest. >> all right. professor, thanks so much. appreciate it. new violence meantime across syria. the government's brutal crackdown is not stopping protesters. we'll have a live report. [ jack ] what's for breakfast? um... try the number one! [ jack ] yeah, this is pretty good. [ male announcer ] half a day's worth of fiber. fiber one. the man you've become. and you learned something along the way. about the world. and yourself. ♪ this is the age of knowing what you're made of. and knowing how to get things done. so, why would you let something like erectile dysfunction get in your way? isn't it time you talked to your doctor about viagra? 20 million men already have. with every age comes responsibility. ask your doctor if your heart is healthy enough for sex.

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streets across syria today despite the government's on going crackdown. video confirms reports of snipers and tanks aimed at crushing the up rising. cnn's arwa damon is with us. we have heard of aur trary arrests, and do the protesters stand a chance against the government? >> reporter: well, fredricka, they have come further than any other sort of challenge that has been posed to the syrian regime, to such a degree that the government is at a loss at how to handle the up rising, which is why the behavior is schizophren schizophrenic. we have this military crackdown continuing in many parts of the country now focusing in hama,

and there certainly appears as if the government is trying to quell the voices of dissent the same way the president's father did back in the early '80s, sending tanks barrelling down streets and fire into residential areas, and positioning snipers on roof tops shooting at everything, anybody who dares to move. and that's according to residents that have stayed inside hama despite this using satellite phones to get what they say is news out to the rest of the world. and there was the soupd of gun fire talking to one man, and he said he had been forced to flee from that initial low kcation h was in, and he was terrified the syrian forces were going to capture him, and they said if

they found his phone they could possibly execute him for that. >> arwa damon, thank you so much. the u.s. job numbers could have been a lot worse, but republican candidates are still taking swings at the president's economic policies. we'll tell you what they are saying about it in the political ticker. t greek. it has two times the protein of regular yogurt. you'll feel satisfied. [ female announcer ] yoplait greek. it is so good. oh, and there's a smile. like new splenda® essentials™ no calorie sweeteners. this bowl of strawberries is loaded with vitamin c. and now, b vitamins to boot. coffee doesn't have fiber. unless you want it to. new splenda® essentials™ are the first and only line of sweeteners with a small boost of fiber, or antioxidants, or b vitamins in every packet. mmm. same great taste with an added "way to go, me" feeling. new splenda® essentials™. get more out of what you put in.

a roller coaster ride on wall street is rocking the white house. and we just heard from the president on job creation. what is the white house's take on this? >> reporter: the president was just nearby here, fred, at the washington navy yard talking

about unemployed vets because job numbers were out today off the top of his remarks he addressed that and of course 117,000 jobs added in july, unemployment dropping slightly from 9.2 to 9.1%, but not surprisingly what the president emphasized was the number of private sector jobs added. here is what he said. >> today we know that our economy created 154,000 new private sector jobs in july, and that's the strongest pace since april. the unemployment rate went down, not up. >> reporter: so better than expected. the white house happy about that, of course, certainly the hope that everybody would have, especially the white house is that it would have been better than it was, fredricka, but he emphasized a bipartisan solution when the congress returns in

september, and then meantime, not surprisingly, republican presidential contenders really jumping on these numbers. the minnesota governor said it was a far cry from the hope and change the president promised on the campaign trail, and the minnesota congresswoman, michele bachmann, he said the president's failed economic policies are digging us a bigger hole, and then huntsman who was appointed by the president said the president focused on the wrong things like health care reform. laying it on thick, and not surprising, though. these are better than expected numbers. they are not good enough to keep growing the economy, fred. republicans certainly see an opening politically. >> thank you.

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start a conversation about using more natural gas vehicles host: could switching to geico reon car insurance? or more host: do people use smartphones to do dumb things? man 1: send, that is the weekend. app grapgic: yeah dawg! man 2: allow me to crack...the bubbly! man 1: don't mind if i doozy. man 3: is a gentleman with a brostache invited over to this party? man 1: only if he's ready to rock! ♪ sfx: guitar and trumpet jam vo: geico. 15 minutes could save you 15% or more on car insurance. top of the hour. i am fredricka whitfield. let's get you up to speed. the stocks rallied at the opening bell after a better than expected jobs report but have been up and down since then. the dow is coming off yesterday's steep plunge. right now the dow taking a big plunge of 215 points.

we will continue to watch the markets throughout the day. some positive news in the highly anticipated jobs report out today. the economy added 117,000 jobs in july. economists were expecting about 75,000. the unemployment rate ticked down slightly to 9.1%. and last hour during a speech on helping veterans find work, president obama said improving the job out look is his number one priority. >> my concern right now, my singular focus is the american people, get the unemployed back on the job and lifting their wages and rebuilding the sense of security the middle class has felt slipping away for years. >> a big relief for 4,000 furloughed faa workers. this morning the senate approved a deal to temporarily resume the agencies funding. it was held up in a dispute, and congress will have to take it up

again after its august recess. >> we need to winter -- working on an faa bill. there's a commitment on the part of senator reid to get together and get a bill. a intriguing discovery on mars. scientists say they found evidence of possible water flows at several sites on the red planet. it shows slopes that appear to fade in the winter and come back in the spring. because of the surface of mars, it is salty, and the scientists say the water would also be salty. protests are raising across syria despite the government's brutal crackdown. tear-gas and shots are being fired at a mosque. the theme is, quote, god is with us."

hillary clinton said syria's government is responsible for thousands of deaths. >> sometimes you lose sight of the tragedy on the streets by looking at the numbers which are so numbing, but the shooting death of a 1-year-old resen thely by the syrian regime's tanks and troops is a very stark example of what is going on. a jury in texas is considering the fate of polygamist sect leader of warren jeffs. the charges came out of a 2008 raid done on the ranch in texas. >> i am elated and happy for all of the victims and for the many that he didn't get a chance to abuse because he has been in

jail for five years. and i am just looking forward to moving forward and trying to help as many as these women and children that we can. >> the fbi is hoping a vile of serial killer's blood will help solve murders back to 50 years. today they are adding his blood to a national database. he confessed to 30 murders before he was executed, but authorities believe there were many more victims. and let's look at the stock markets reaction. stocks have been up and down quite a bit so far today. let's bring in our money team, christine romans in new york, and alison kosik at the new york stock exchange. let's get a breakdown of the jobs report. >> you had 117,000 jobs in the

month of july created, and that's better than we expected. when you look in the year how that shapes up. that's better than may and june. and those two bars right there, may and june, those were higher, and so they are better than we thought. after momentum and job creation in february, march and april, it stalled out in early summer, and then you saw 117,000 jobs created in the month of july. and then from 2009 until now, let's put these months in perspective. you can see that we have created jobs every month this year, and then in half the months we lost jobs. compare that to 2009. the depths of the recession, you can see just how far this economy has come. 117,000 jobs created is not good enough. it's not good enough. nobody thinks it is. it's so much better than what

you see in 2009. you can see what a difficult decade it has been quite frankly. we had a recession in -- in the early part of the decade, rather. we had another one in 2003, and that brutal financial crisis that just shows -- look how deep and how just disturbing the job loss was there. we're crawling back from a difficult period, fredricka. >> slow and steady, right? let's check in with alison kosik at the new york stock exchange. a second ago we were looking at numbers dipping beyond 200 on the dow. what is it saying now? >> right now we are down about 198 points, fredricka. we saw the dow rally at the open, 172 points on the better than expected jobs number, but then more news comes out and that's what is moving the markets right now. we're getting news about unsubstantiated worries that standard & poor's one of the big

rating agencies could downgrade the u.s. after closing today. they don't have a comment at this point. that's why you are seeing stocks fall again, and you see the vix, and that's the fear index, and that is spiking over 23% right now. that worry is weighing on the markets and that causes a cascade of events, and most note blow it would raise borrowing costs for companies and people like you and me, and that's weighing on the markets right now. >> alison and christine, thank you so much for that right now. and here are stories we're covering over the next hour. what to do or not to do to stop the 401(k) fears, and then more on the deadly heat fallout, and then the eruption on hawaii's big island, and lots of big companies are sitting on cash. we'll tell you who they are and why they are not spending.

and michael holmes takes us to the frontlines in libya. >> the rememberle commander says if we drive down that road we will be seen by gadhafi forces and they will open fire. mine was earned over the south pacific in 1943. vietnam, 1967. i got mine in iraq, 2003.

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bankrate.com. greg, with all the volatility in the market, should we be worried about our 401(k)s? >> no, i think here is the perspective you have to have. particularly with a 401(k), your time for retirement is decades, and over the course of decades we will see this kind of volatility. you have to resist the urge of the knee-jerk reactions every time we see this, and instead make sure however your money is invested is consistent for how long you have until retirement with the lifestyle you want to have. >> what is retirement is around the corner, and you no longer have decades to count on volatility and rebounds and etc.? >> that's, again, if you are 60, 60, it just didn't sneak up on you. it's over time. as you get closer to retirement, you have to dial back the risks

because you don't have the working years to ride out the volatility. we're all two weeks older than two weeks ago, and that's not going to change a whole lot in terms of how you are changing your 401(k), and you want to make sure the money vested in consistent with the time and the lifestyle you envision. >> what would be one important thing you would advise somebody to do if you are somebody in your 40s or 50s? >> today is payday for a lot of people, so the 401(k) contribution will go further today than last payday that the but regardless of the volatility or not, make sure how your money is invested is consistent with your goals, and if that's the case, you don't need to make any corrections. >> do you think that might be one of the biggest mistakes that

people make is they see the numbers and get nervous and go in there and start fiddling around? >> without a doubt. people -- they feel the pain of losses more than they enjoy gains. and that's to our detriment. every time you dial back the risks, that means you have to save that much more to make up the difference, and people don't save enough to account for that. >> thank you for your time. >> thank you. in the meantime, another blistering day for much of the u.s. we'll find out how long the heat wave is going to hang around.

in florida, a close encounter with a tornado. one of our eye reporters caught this funnel cloud on camera. it damaged some homes and up rooted trees when it touched down. very ominous, right? >> yeah, looking straight up at that. >> what kind of view is that? >> it's time to go inside and close the shutters, as jimmy buffett would say. i have something else in florida. >> what is that? >> a rocket about to take off. if you are on cocoa beach, and so far they are still counting down, and 12:25, it's the nasa channel. it's a satellite that will go out into jupiter. it will spend an entire year circling the planet around and around and around. it's hot in florida and in the midwest, and not will change

much for the next couple days. oklahoma city, today 110. not too many temperatures in the 113 and 114 range like we had on monday and tuesday, but still hot for saturday and sunday. temperatures are beginning to cool off. you will notice something. atlanta only 88 by the end of the weekend. that's because there is relief in sight. the ridge of high pressure that allowed the heat to go around and around and around, that will break down a little bit, and the cool will come and cool down the entire eastern half of the u.s. do you know how three bears cool off when there is a pool? >> i love this. >> have you seen this picture? >> can't see it enough. >> the three little boys. >> yeah, where is goldy locks. >> and they did not break the pool. >> yeah, i know. did you see how carefully they stepped into it.

>> they probably have done that before. >> true. probably regulars. the heat, no laughing matter, particularly for those engaging in football practice. two students died and one assistant coach. this story is from george howl. >> he's my hero. so strong. >> glenn jones admits he did not see the signs until it was too late. his 16-year-old son started feeling sick a few days after a summer football camp. >> i did not think anything about it, you know. i just did not put two and two together. he was giving us signs, but he was not complaining. but he was giving us signs that there was something wrong. >> the teen died of heat stroke the next week after collapsing

at a voluntary teamwo workout. he was one of a couple to fall victim to the heat this summer. it's especially frustrating to dr. frederick mueller, a professor at the university of north carolina saying heat related deaths are preventible. >> yeah, the height of the heat. >> reporter: mueller studied heat-related deaths and says they are on the rise. to beat the heat the head coach of a high school in indiana holds practice late in the evening. >> it takes everything and the humidity and temperature and wind. if that reading gets too high, then we have to tell the coach and the coach is real good about it and we have to shut the kids down from activity.

>> at a nearby tucker high school, we found players practicing indoors to stay cool. >> they regulated that for us today. i think that was big making the decision that they were not going to put kids in harms' way by allowing them to go outside today. >> monitoring the wet bulbulb, y say education is the most important piece, making sure that coaches know what to look for on the field and that players speak up when they feel they have reached their limit. >> you talk about monitoring kids, but as a student, i am sure they want to impress you and show them they are bringing your a game. how do you get a student to walk-up and tell you this is too much. >> some of them do it, but as a coach you will see it. >> all precautions glenn jones hope will take to heart. >> it's a shame what you pay for things to get better.

>> heartbreaking. what can parents do? you talked to the coach about what they can do but what can parents do to make sure their kids are safe on the field? >> it's up to the parents. parents need to look out for their kids and symptoms, and headaches and dizziness, and if they have been out in the sun, as you know, kids will not speak up when things feel wrong. now, more on the markets today. let's talk directly to a trader. you can see the dow down 74 points. it has been dipping and diving and spiking up and down all day long. and teddy, as we look at the dow that has taken quite a dip, and then ten minutes ago was down 200 officer yesterday's huge colossal fall of 500 points.

how do you read this? yesterday analysts said it was fear driving the markets down. what is the explanation today? >> i think it's a lot of mixed emotions. listen, there is nothing rational about stock markets and pricing the stocks, and you know, there are true emotions that drive investors, fear and greed, and it doesn't take long to go from greed to the fear mode. and folks are just kind of fed up, and investors, like consumers who are saving more and like corporate america that is fleshed with funds in their treasuries, i think investors basically are just taking risk off the table because there is not a lot of clarity and there are just too many unknowns out there, and those are the two things that investors really have trouble dealing with. we can deal with almost anything, good news, bad news,

but when you have so many unknowns and so many problems, sometimes it's just better to kind of move to the sidelines, and i think that's clearly what we have been seeing for the last six or seven trading days. >> wouldn't you think today, with an encouraging jobs market, a jobs outlook that perhaps those investors might release some of the money today? >> well, i think so. we had a very positive reaction to the jobs number. the futures were weak going into the number and completely reversed. the market at one point was almost up 170 points. but the problem is one number is not going to change the sentiment. you know, we just went through the most toxic and un-understanding if you will, process of the whole debt ceiling dance, and no matter what your politics, there is no way you could have come away from the process with a warm and cozy feeling, whether you're an

american or watched from afar. and then the result was anemic. what did we accomplish? and then we see hard numbers towards the ends of last week and got a weak gdp number and then a resized weak gdp number, and that caused analysts to rechet down their expectations for the second part of the year, and then we weak consumer number and a weak consumer sentiment number, and -- >> it just goes on. >> yes, it goes on. we have the problems, and there seems to be a lack of direction in this country and the problems in europe, and when you add it all up it doesn't make for a positive scenario. >> no, it doesn't. i am exhausted you have to be exhausted after this week. hopefully you get a nice and restful weekends because who knows what next week will bring. >> yep. >> thank you. >> my pleasure. moments ago chad was talking

about the satellite launch, and there it is. it has launched. juno launched right now. we will take a quick look and watch it for a little bit. oh, it's still there! i don't know what that was. that was a tease, wasn't it? >> six, five, four -- >> chad will do the countdown. you can hear it. >> two, one, ignition, and liftoff of the atlas 5 with juno, a piece of the puzzle on the beginning of our solar system. >> vehicle and pods look good. >> still exciting, even unmanned, it's exciting to see a satellite being launched into

it. but chad, it's interesting that we're a couple years off before it's in place. >> yeah, this is now sitting on top of the largest atlas rocket ever built, because this has to go all the way to jupiter, and it will take until 2016 before it gets there. it will spend about a year going around jupiter. this planet is so large. our satellites could go around our planet in one day, and it will go around 30 times in a 365-day year. >> this is your only shot. you will not see it. >> it will have a fiery death on to the surface of jupiter in 2017. >> all right. we will take a look at the markets and everything else right after this break. chad, thank you so much! l. [ bell rings ] it's time for recess... and more pills. afternoon art starts and so does her knee pain,

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a better than expected jocks report today easing some of the fears related to the stock market plunge. the economy added 117,000 jobs, and 75,000 was what was expected. the unemployment rate ticked down to 9.1%. the dow is down 49 points. anything could happen still. let's check in with our -- i think we have alison kosik who

is at the new york stock exchange -- sorry, we have poppy harlow now. poppy, give us an idea of what is behind the numbers that keep fluctuating. >> it's interesting, fred. when you look at the numbers, you see an uncertainty among investors. we have it right here on our home page. we will pull it back up in a minute. that volatility that we are seeing in the market, yesterday we saw the market fall 512 points, and today we started up about 130 points and then fell significantly down more than 200 points and now we're coming up. this is the new name of the game on wall street. it's all about volatility. a lot of it comes after the jobs report which was a lot better than expected, but we want to point out that the fact that the companies with the biggest hike in the country are not doing a lot of hiring.

to give you some perspective, that's the same size as the gdp of canada, but even with all that cash they are not doing hiring right now. i want to show you some numbers so you get an idea of who is hiring and not hiring. when you look at the small and medium companies represented in the red, and the negative 22,000 number that you see on your screen, that's for big companies, big fortune 500 companies that cut jobs over the last two years, and that's troubling. you are hearing the rallying cry for them to add more jobs because they have the cash on the sidelines, and the problem, fred, is they feel so uncertain about the regular y environment- >> yeah, we heard about a trader talking about companies holding on to the money because they are

not sure what is around the corner. poppy harlow, thank you so much and we appreciate that. the jobs report says the economy is adding jobs, where are they in particular? we will tell you what positions are available, and where you might have to go to get them. in one place. ♪ the race of your life you never ran. the trip around the world you never took. the best-selling novel you never wrote. but there's one opportunity that's too good to miss. the lexus golden opportunity sales event, with exceptional values on the lexus es. but only until september 6th. see your lexus dealer.

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so we had a positive jobs report today with the economy adding 117,000 jobs. so who is hiring? joining me now is jobs expert, charles perty. we just heard from poppy harlow and an insider trader who is talking about companies that have money are tight with their cash and they don't want to hire. tell us who is hiring out there to contribute to the encouraging jobs report? >> well, the monster employment index looks at activity on corporate career sites and on online job boards including monster.com.

it paints a picture of industries where recruiting online is happening. we picked the top five, and this year from july 2010 to july 2011, the industry showing the most growth are mining and oiling gas extraction, and transportation and warehousing, so law gist yikz, and retail and hotel trade, and personal services that don't fit into a larger category that might include things like pet care, and mortuary services, and a catchall for the hands on personal services. >> what is -- go ahead. >> sorry. what is interesting is they include a wide variety of jobs. when we say something like transportation and logistics, you may think of a truck driver, but for a company like penzke,

they are looking for people in hr and accounting, and so the industries represent a wide variety of jobs. >> so you like that job, or any of the others, but you don't necessarily have the training, how do you try and break into these industries? >> there's a couple things people need to keep in mind. first the importance of customizing your resume and background so it speaks to the position you are applying for. a lot of people make the mistake of throwing out the same blanket resume they apply for. take a look at your past experience and look for the relevant experience and make sure it's featured prominently on your rez pay. the second thing that is key is networking. we do surveys of people who recently found jobs and more than half say somebody they knew played a role in them getting a job, and so in this day it's key to have a robust online profile and get out there on the working sites, and monster.com has a new

facebook app that let's you create a professional profile on facebook and keeps the contacts away from your social activities on your facebook wall. >> what cities do we need to be targeting? >> some cities are showing great growth. and in some cases it was because 2008 and 2009 were so bad, but at the top of the list it's nice to see detroit is showing a strong growth right now on the monster employment index, and then -- >> i love that. >> i love that, too. and there are cities that are showing more consistent growth throughout minneapolis, for example. and then cleveland, cincinnati, and orlando showing strong jobs growth. >> fantastic. charles, i can hear the e-mails going out and resumes going on

already. >> there's reason for hope. thank you very much. >> thank you. a thief felt bad about taking a wallet, so three days later he decided to make it right. [ jon ] we don't just come up here for the view up in alaska.

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me. >> the new documentary from fatherless to fatherhood explores the role of fathers in the african-american community. >> the purpose of the documentary is to ignite discussion throughout the african-american community about the importance of fatherhood, and to let people understand, especially young people who understand that in a lot of cases their situation is not yun naek, and their lives are not determined by the absence of their father and they can move beyond that and succeed nonetheless. >> producer kobe brown started the project two years ago and says he gained insight from the many men and women he met. >> we are bombarded with stories of absent fathers, and there are positive fathers out there and this reveals who some are. >> this is one of those fathers. he is busy with a full time job and runs a business with his wife, but still he makes it a priority to spend quality time with his three active sons, ages

4, 5, and 6. >> it's a juggling act. that's the bottom line. a do a lot of multitasking, and i am motivated to be a good example of a husband and an example of a strong worker and a good example of a good father. >> his faith and his wife, dawn, both play a pivotal role with his sons. especially his wife is more of the disciplinarian. >> there is no "us" without her. i am probably more of the father that is a friend than a disciplinarian. one of my challenges with discipline, and i see my sons and see the best in them, and one of the challenges is i have to know and realize that bringing out that best in them often requires discipline and not necessarily just friendship. >> he is hopeful the presence in

their lives will be helpful in the future. time to go cross-country for cnn affiliates are covering. a woman he criticized for spanking her child called friends who then -- who then kind of assaulted the bus with automatic weapons. nobody was injured. four people are charged with attempted murder. in new hampshire, police are looking for a man they call the remorseful robber. they say he stole a woman's wallet out of her shopping cart, and three days later he gave it back at her home with an extra $10. >> he said i am sorry. it was just like i stood there and froze. i turn around and ran down the driveway. i would like to believe it that he really needed the money, but

not after i heard he tried it again. that's not sorry. now to the big island of hawaii. scientists have been tracking two new streams of lava from the volcano. the streams have merged and lava is ponding in a low area, and it's an extraordinary view, and it's in a remote part of a park closed to the public. getting the economy growing again, that's the chief concern for the white house and the white house. we will hear from the economists have that obama's ear. and now the dow is up! it has been a roller coaster ride all morning long. up now 80 points. we'll be right back. a couple decades ago, we didn't even realize just how much natural gas was trapped in rocks thousands of feet below us. technology has made it possible to safely unlock this cleanly burning natural gas. this deposits can provide us with fuel for a hundred years, providing energy security and economic growth

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a bit of good news in this tough stretch for the u.s. economy. the labor department says the economy added 117,000 jobs last month. experts were expecting 75,000. the unemployment rate dropped slightly from 9.2 to 9.1%. and the dow has been up and down all day long. encouraging news now, going back up by 115 points. and felicia taylor is with us.

>> we got a better than expected number, however it's not good enough. we have not been able to see a sustainable recovery. we need to see months of more than 200,000 jobs created in order for the economy and for investors here on wall street to believe that we're moving in the right direction. but hear it from him. >> it was an encouraging number, better than expected. we have a long way to go. what needs to be done is we need to overcome what are some well known heavy blows that we took the first half of the year from gas prices, from the events in europe and the events in japan. i think that what we ought to do now is enact those things that have bipartisan support and put off the things that both parties are going to argue about and duty things that they agree on, like free trade agreements, and the infrastructure bank is bipartisan, and the patten reform, and some things that

have been put on hold while there was this dysfunction coming out of congress. >> now, words like dysfunction is not what you want to hear as a description for your government. clearly that doesn't put any positive sentiment on anything and that's what investors are concerned about right now is the sense of dysfunction in washington. we have got that debt ceiling off of the table at the moment, but it was the three weeks leading up to it that really dismayed investors and that's why you are seeing the whip saw reaction to the market today, where you are up 160 points and then down another 215 points on any kind of headline that crosses, and still that uncertainty remains that we're not really in a recovery yet, and now you have people throwing out words like a double dip recession, and remains to be seen. >> thank you so much. with all the turmoil in the markets you may be wondering what should you do with your money.

here is free advice from the cnn help desk. >> time now for the help desk where we get answers to your financial questions. joining me this hour, a personal financial expert, and the president of consumer education at smartcredit.com. we have two interesting questions. the first one from franky from missouri. is it better to pay the minimum of several credit cards at once or pay off one at a time while skipping payments on one or two others? john, what do you think? >> skipping payments equals bad idea always, okay. if you are treading water where you are barely able to make minimum payments, you need to reach out for help. contact the national foundation for credit counseling, nfcc.org, and sign up for a program that could get your interest rates lowered and your principle will go down, and then it will knock out the debt.

>> and stop spending. >> yeah, and stop spending. >> and then this question from harriet in san diego. i am 71 and conservative with my money. what is the minimum percentage of stocks i should have in my portfolio? >> a question that come from women that have a tendency to be more conservative. 100 minus or age is the maximum amount to have in stocks, so in harriet's case, 70% would be the maximum. she could take it down to 20% if she is nervous, but there is a big risks not having any stocks, because then she faces inflation. a little bit of the extra juice in there is actually a conservative way of making sure that you don't out live your money. >> guys, thank you so much. if you have a question you want answered by our experts e-mail

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protests are raging across syria despite the government's brutal crackdown. the theme of today's

nationwide demonstrations is god is with us. u.s. secretary of state, hillary clinton, is appealing for alouder more effective national response. she says syria's government is responsible for more than 2,000 deaths since the rift started in mid march. libya rebels are making key advances against gadhafi' rebels. troops are looking at one town on the doorstep of tripoli. >> reporter: today, this is a lookout for a whole new war. rebel fighters watching over the gadhafi-held city a few kilometers away. the rebels are calling tiji, the

down behind me a gateway city, because if they take that there will be very little standing between them and the doorstep of tripoli. but talking about taking it and achieving it are different things. rockets arrive daily from the city and into the nearby town, but rebels are not returning fire at the moment. that's because when they advanced on the city and engaged gadhafi troops earlier this week, they saw families, including women and children running into houses, and so they with draw. >> translator: the situation we're facing, we're facing a bigger problem because the civilian people are being used as a human shield. >> reporter: that's a claim we cannot independently verify, but it's clear after seizing half a dozen towns the advance has soared at this key city.

rebels say they got word to the remaining residents to leave and leave soon. >> we will go in, but we try as can, they should go because we give them the chance. >> reporter: during our visit to the observation post, anti-aircraft fire could be heard coming from the city. this man likes that sound because he said it's the sound of gadhafi fighters wasting ammunition. >> reporter: the rebel commander says if we drive down that road we will be seen by gadhafi forces and they will open fire on us and on his men. with the prize that is so clearly in their sights, they say it won't be long until they are firing back again. >> the "cnn newsroom" continues right now with randi kaye. >> fred, have a great weekend. stocks matter, and debt