at how the manufacturing sector is keeping jobs in the u.s. by getting inside the classroom. credit cards with no interest rate are making a comeback into the wallets of americans. plus, the oil stock that one trader says you probably don't know about... but should. first business starts now. you're watching first business: financial news, analysis, and today's investment ideas. good morning everyone. it's tuesday, september 11, 2012. i'm angela miles. in today's first look:

traders will pause to remember victims and families of the 9/11 attacks today with a moment of silence. at the nyse rescue and recovery workers will ring the opening bell. stocks sold off yesterday. traders appear to be taking money off the table ahead of news coming out from the fed this week. commodities also were hit by selling. the zynga exodus continues. this time the chief marketing officer has left the social media game company. shares are down 70% this year as high ranking officials ditch zyngaville. and jamie dimon could get some questions today about the more than $4 billion loss at jpmorgan-chase. the ceo speaks today around noon in new york at aninvestor conference. john brady of rj o'brien joins us now. it's september 11th. do you suppose there will be a somber tone to the market today? > > there will be, at least in the morning. traders are really

fixated on events overseas on wednesday and thursday, both in europe and the united states here with the federal reserve. tuesday, september 11th is certainly going to be a day of remembrance. there will be a somber tone to early trading, and i think most traders will probably remain somber during the day. it's a hard day, it's an unfortunate day, and it's a day that we all remember. > > as you mentioned though, the fed will be making some sort of announcement by thursday. what will be the trade ahead of that? > > there's been one big trade in fixed income markets, and that's been the steepening trade between 10-year yields on 30-year yields. one of the main topics of discussion amongst both traders and central bankers right now is that five- year inflation break-evens on the forward curve are over 2%. what does that mean? that means inflation expectations by the market five years forward are over 2%. they're close to historically high levels. yet,

the federal reserve will be adding more accommodation of the market in some form on thursday, which has the potential to drive inflation even higher in both the short and medium terms. > > john, a couple of stocks made a lot of noise in the market yesterday, apple and intel falling about 4%. what do you think is likely to happen with tech today? > > technically a little bit of damage was done with both those stocks. of course, apple trading to an all-time high before falling back. i think what you've really seen is probably some profit-taking by money managers ahead of wednesday-thursday schedule in both europe and the united states. given the run-up we've seen in stocks, let's say from 1408 to 1440, just in the last week or so, i think money managers are paring a little bit of risk back, because you do have random events taking place on wednesday and thursday. and given these outside-day lower formations in those stocks, look for some of those higher beta stocks like apple and intel to perhaps consolidate and trade off a little bit more than otherwise as the technicals have deteriorated at least in the short term. > > thanks to you. that's john brady of rj o'brien. > > thank you. wall street is taking on a

different look 11 years after the 9/11 attacks. shortly following the terrorist attacks, some trading firms moved operations away from new york, heading to places such as chicago and new jersey. today, some firms are migrating away from wall street as the financial crisis of 2008 continues to take a toll. "it's a pretty tough situation right now, you have banks that have gone through a crisis. typically through a downturn they cut their bottom performers by 5% and within 12 to 18 months there's a turnaround and they ride the cycle back up. but here we are 4 years later, and the reality is we are still in a similar slump." that was james malick, a partner at the boston consulting group. he is in the business of consulting banks on re-locating. the chicago teachers' strike continues to gain national attention. the public school teachers represent the 3rd

largest district in the nation. the city of chicago has cancelled classes for thousand of students. the head of the teachers' union says the two sides could reach agreements on a number of issues including health benefits and a new teacher evalauation system. city leaders and the teacher reps have also been at the bargaining table for months over wages. chicago mayor rahm emmanual calls it a "strike of choice." the white house is calling for a quick resolution to the disagreements in order to get kids back in the classrooms. meanwhile, more layoffs loom for employees at hewlett-packard. the company is planning to cut 29,000 employees from its staff over the next two years. earlier this year hp said it would cut 27,000 in an effort to restructure. this week, hp filed its new plans, while also stating that costs for the company will be higher as it plans its next move. restructuring costs through 2014 will cost hp around $3.7 billion.

job cuts are also ahead at eastman kodak. the bankrupt company will eliminate another 1,000 jobs by the end of the year. the ceo tells the l.a. times kodak is becoming more focused. the film maker has already axed 2700 positions. the company is currently auctioning off a large number of its patents. back in april, kodak sold its kodak gallery photo sharing website to shutterfly. ford's latest model is spurring job creation. ford will base production of its new fusion model at a plant in michigan. 1200 jobs will be added to the plant in suburban detroit. the fusion is facing high demand. it is currently one of ford's top sellers. meanwhile, over at gm, the chevy volt is a hot seller, but it could be cutting into gm's long-term profits. gm invested $1.2 billion in the volt, but has sold so few of them - fewer than 14,000 - that reuters reports gm is losing around $49,000 on each volt made. congress is back in session. topping the agenda for lawmakers is keeping the government in operation. as the september 30th deadline quickly approaches, the house is

expected to approve a bill later this week that will keep the government running. as well as passage by the senate by the end of the month. reports say a threat of a government shutdown sparked by the tea party is looking less likely as upcoming elections draw closer. also on the legislative list, president obama's bill to improve the economy through job growth, including jobs for veterans returning from iraq and afghanistan. the campaign cash race is heating up. president obama was the big winner in august. contributions to the president and the democratic party totaled $114 million. that is the first time the president has outraised his contender. mitt romney and the republicans took in $111 million. romney's campaign currently has $168 million in cash on hand. president obama has not yet revealed the total amount his party has received. the u.s. is selling its majority stake in aig. the treasury department plans to shed around $18 billion worth of aig shares. it's a big move for

the government, which bailed out the troubled insurance company back in 2008. shares dipped about 62 cents on the news. overall this year, aig stock is up around 44%, a relief to shareholders now. during the financial crisis aig nearly collapsed. the federal reserve will take the reigns on regulating aig as soon as the government no longer holds the majority stake. black rock, the largest firm that offers exchange-traded funds, is lowering some fees. etfs are baskets of stocks traded on exhcanges such as the new york stock exchange. according to reports, black rock's etfs have been losing business from average investors who are turning toward vanguard group's less expensive etfs. one example, vanguard's msci emerging markets etfs cost nearly a half percent less than black rock's ishares etfs. toys r us is upping its game

with a new tablet designed for children.it's called the tabeo and will sell for $150 exclusively at toys r us stores starting october 21st. it's projected 1/3 of americans will own a tablet by 2016. toys r us is adding the gadget in hopes of increasing sales going into the holidays. the retailer is facing competition from amazon, target and walmart. another retailer is focusing on its younger clientele. jc penney has announced it will bring back its free hair cuts for kids promotion. every sunday, children in kindergarten through 6th grade may receive a new "do." the retailer decided to bring back the program after a large turnout from a trial run. the program returns november 4th. hollywood has a case of the box office blues. according to the la times, weekend ticket sales totalled $67 million, the lowest number in 11 years following the 9/11 attacks. industry insiders blame it on families in back-to-school

mode. "the possession" was the top movie with ticket sales coming in at $9.5 million. also making the top 5, "lawless" at $6 million and "the words," starring bradley cooper, which opened last weekened with $5 million. "the expendables 2" brought in $4.7 million, while the "the bourne legacy" earned $3.9. still to come, how to get your hands on a credit card with zero interest. that's later. but first, going back to school. why u.s. manufacturers are focused on classrooms. we'll be back right after this.

you have to go out and ask america. we're talking to people from coast to coast who are using solar power every day. from a few panels on a homeowner's roof.

to large solar plants with enough utility power for a whole town. solar energy is working for america now. saving us money, creating new jobs and giving our world a brighter future. go solar! welcome to the solar generation what products will america's future workforce make, and will that workforce have the training to do so competitively? in our cover story, those are among the challenges facing manufactures gathered this week in chicago. at the international manufacturing technology show, filled with the latest machines to make things cheaper, faster, better, the society of manufacturing engineers says the u.s. needs to do a better job convicing young people to become trained to use them. "a lot of students say they want to change the world, but we haven't explained how manufacturing can change the world." a georgetown university study finds that by 2018, the u.s. will need at least 4.7 million high school graduates with certificates for jobs such as cnc operators -

computer numerical control, which assists an operator to make loaded material and make precise cuts efficiently. "it's taken a long time to change the culture that philosophy doesn't pay. people are coming around to that." at wheeling high school in suburban chicago, an area with several manufacturing firms nearby, the school's principal convinced 70 businesses to set up a manufacturing laboratory on campus and guarantee job interviews to anyone who completes a rigorous program. "manufacturing, i don't isolate. it's a part of engineering, so you see both sides and what their path is

going to be." beginning its second year, the program has placed its first dozen plus graduates in manufacturing jobs locally. "they can make between $45,000 and $145,000. there's huge potential to access the middle class." the conference board, the business and research group that measures labor demand, says the number of job openings for skilled factory workers is up 38% since 2005. meanwhile, there are more signs the chinese economy is slowing down. factory output is at a 3- year low, and imports unexpectedly declined 2.6% from a year ago. the president of china warns the fast-paced growth in his country is hitting the brakes and could continue to slow. however, chinese exports to the u.s. rose 10.2%. to boost the economy,

chinese authorities are planning new contruction projects for highways, airports and subways. still ahead, credit cards with a zero percent interest rate are available. however, there is a catch. find out more right after this. if you'rclosely to the ten

"voices of meningitis." it was a tuesday. becky said she didn't feel well. on wednesday, we said our final good-byes. i was there when my son took his first breath.

and i was there when he took his last. not everyone who gets meningitis...dies. i wasn't sure she'd make it. the infection spread so fast. we learned about the vaccine after he got sick. we are the "voices of meningitis." (overlapping voices) join school nurses and families nationwide by adding your voice. meningococcal meningitis may be rare, but it's often devastating... ...you can help prevent it. get vaccinated. health officials recommend vaccination for preteens and teens. talk to your child's school nurse or health-care provider, and visit voicesofmeningitis.org to learn more.

low-interest credit cards nearly disappeared during the financial crisis, but are showing signs of making a comeback. jennifer waters of marketwatch.com has the scoop. good morning to you jen. > > good morning angie. > > how readily available are 0% credit cards? > > right now we're looking at some 40% of the big card issuers out there with some form of 0%. so that's pretty notable considering that, as you said, they just pulled the rug out from underneath them some time

ago. they're out there, you can find them. you better have good credit though. > > what are some caveats? > > here's the biggest caveat, and that is that you get 0%. it's a teaser rate. it's usually 12 months. you can get some now, they're extending to as much as 18 months. so you have that 12 to 18 month period where you can have a purchase or a balance transferred, and you've got that time to pay it off at 0%. so it's almost like getting a free loan. but, if you slip up during that time, or your credit quality slips up during that time, you're going to get hit with what the go-to rate is, and that could be anywhere from say 12% to even 25%. so, if you get hit with that go-to rate because your credit has slipped up, you missed a payment, something like that, you are really going to be shocked at how much you owe in interest charges. > > you mention the need to have good credit. how high of a credit score is necessary to get, say, a 0% card? > > well, prime and super- prime, that reaches into the almost 800s in the fico scores.

what we saw for a long period of time was that people under, say, a 720 score, couldn't even think about getting a good credit card like this. but now they're starting to widen it a bit, and they're widening it down to people as low as 620 by offering them these solicitations for these cards. they're looking at people who might have struggled during thought recession. maybe they had a foreclosure that was job- related, maybe they had a short sale or something. they're in a recovery mode. they want those people. they know that once they get back on their feet, if they were good before, they will continue to be good. because people who are in good credit standing and something happens that knocks them off that status, the card issuers know that once they get back on their

feet, they're going to go back to the same kind of credit habits they had before. > > good to have you on the show this morning. thanks for that update on 0% credit cards. that's jen waters. you can find her at marketwatch.com. have a good day, jen. > > thank you. coming up, the oil stock that is gushing out returns. chart talk is next.

good morning to matt shaprio. he's president of mws captial, here to talk about the oil sector. yesterday we learned about a big deal: bp is selling off $6 billion worth of its assets to planes exploration and production to do some deepwater drilling off the gulf of mexico. what would be your play in this sector? > > well, they're going to need a lot of equipment, and one stock, stock symbol n-o-v that maybe some of your viewers out there haven't seen before is national oilwell varco, which is the biggest supplier of all sorts of sophisticated end-to- end oil filter equipment, especially for deep sea

exploration and extraction. what's more, guess who's been buying it angie? > > who? > > warren buffett of course. in the last quarter, probably around $70 a share. this company has been in business since the 1800s, and it really controls most of the sophisticated oil equipment that's needed all over the world, just like that deal in the gulf. now the stock is $80. one thing, it's a very profitable company. it has a final profit margin of about 12 to 13%. that's really good. that's something that's attracted a long-term player like buffett. now of course, with oil at $98 a barrel, people really like oil plays, oil stocks, your chevrons and exxon mobils that i own. now oil field services, this stock has had a great run. can it prove that it's going to keep chugging along at its all-time high? what if we have a pause in the global economy? oil sells off a little bit to the $80s. it can push the stock down a little bit. so i'd like to buy it more $70-ish, but we'll see. it's a

very good company, and with warren buffett on board, you should really take a look at it. > > i would think that demand could be an issue for you if you own this stock, because as you know, there's been this surge of buying of more fuel- efficient cars for instance. but, maybe mr. buffett is telling us that we're going to be buying gas guzzlers again. > > well, efficiency is going to rise. that's one thing that happened out of the conventions with the mandates coming out of washington, that efficiency is going to rise by 50%. but demand is still going to be there, and there's nothing that replaces the distillates of oil, angie, as you know. > > good to have you on the show this morning. that's matt shaprio, president of mws captial. that's is for now. coming up tomorrow, we'll report on the global money shift and why some americans are choosing to invest overseas. from all of us at first business, thank you for watching and have a terrific tuesday.

. good morning, today marks the anniversary of the september 11 terror attacks honoring thousands of people who were killed. and firefighters here honor the fallen of 9/11, we will tell you what is planned this morning. cleanup in berkeley, we will tell you what triggered

the vandalism. it is all ahead on the ktvu channel 2 morning news. . good morning thank you for waking up with us, let's check in with steve paulson, good morning steve. it is filtering down the coast, san mateo coastline, yesterday inland temp did not warm up and probably 60s to 70s to near 90 degrees. here is sal. it looks good if you are driving from bay point to the willow pass grade as you can see driving is going nicely with no major problems. there is a closure near broadway and you might see it as you drive through downtown oakland. let's go back to pam. we are follin