amendment number 3 by mr. price of georgia, amendment number 4 by mrs. emerson of missouri, amendment number 5 by mrs. blackburn of tennessee, amendment number 6 by mr. broun of georgia, amendment number 7 by mr. flake of arizona, amendment number 8 by mr. flake of arizona, amendment number 9 by mr. flake of arizona, amendment number 10 by mr. flake of arizona, amendment number 11 by mr. flake of arizona, amendment number 12 by mr. flake of arizona, amendment number 13, 14, 15, 16 of mr. flake of arizona, amendment number 17 by mr. flake of arizona. the chair will reduce to two minutes the time for any electronic vote after the first vote in this series. the unfinished business is the request for a recorded vote on amendment number 3 printed in house report 111-208 offered by the gentleman from georgia, mr. price, on which further proceedings were postponed, on which the noes prevailed by voice vote. the clerk will redesignate the amendment. the clerk: amendment number 3 printed in house report 111-208 offered by mr. price of georgia. the chair: recorded

number 2, number 3 printed in part a, number 7 printed in part a, number 8 printed in part a, number 10 printed in part a, number 11 fingerprinted -- printed in part a, number 12 printed in part a, number 1 printed in part b, number 4 printed in part b, number 7 printed in part b, number 8 printed in part b by mr. flake of arizona, number 9 printed in part b, number 10 precipitationed in part b, number 11 printed in part b, number 3 printed in part c by mr. hensarling of texas, number 4 printed in part c. the chair will reduce to two minutes the time for any electronic vote after the first vote in this series. the unfinished business is qut for a recorded vote on amendment number 2 fingerprint -- printed in part a of house report 111-209 offered by the gentleman from texas, mr. hensarling, on which further proceedings were postponed and on which the noes prevailed by voice vote. the clerk: amendment number 2 printed in pued in part a of ho report 111-219 offered by mr. hensarling of texas. the chair: a recorded vote has been requested. those in support of the request for a recorded v

so the number was not bad. for the fourth quarter for the first time since government records started in 1947. but by the end of the day the bulls can take things back. the dow would need to go, let's see, 57 points. it would be the best july since 1989. >> '89 or '39? i think '39. i'm going to -- >> '39? >> i heard '39 but i will check that again. but the government's cash for clunkers program is the other big story. >> what's going on there? >> all sorts of confusion about it. the reality of the situation is this, it was successful. the white house is working with congress before lawmakers leave town for augusto see if they can add a little bit more money in there so they make sure they have enough to get us through another few weeks of the program. we'll have the latest on the administration's side of this. we have the epa joining us at the national urban league conference that's been going on in chicago the past couple of days. >> the pitches sank on the better than expected gdp news. down to 40. we needed

that number has kicked back up again. the supreme court is more divided now than at any time in its modern history. the average number of to cents per case this term broke the to barriers so that in any given case, you expected to be at least 72 for the first time since as long as i've been keeping statistics. you're much less likely to see brought anonymity across the court. sometimes people confuse the goal of bringing greater coherence to the supreme court pose a decision making with the idea that they once every case to be -- what the chief justice tries to do is to make sure that the court is deciding cases clearly so that you know what the answer is. it might be 5-4100 to% of the time -- five-four, 100% of the time. three judges and other and three judges and number, justice x joins part two-day -- they are down materially. there was only one plurality decision this term down from 34 in the last several terms. while the lines between the justices are going not -- and growing more start, they are able to decide the c

it is job approval number is down, my number is going to be effected on election day. greta: how bad can that gap be? >> it can be huge. in the case of obama, the media beat up on him personally as well as his politics for bush. obama is a very likable guy. the public does like him. they are enamored with him as a star status. even though his popularity numbers are still very high, his job approval numbers on a lot of subject areas are starting to take. -- tank. the guys in the house have to be sweating. they have been put through the wringer once on the stimulus. twice on capt. trade. now big -- twice cawnpore cap and tra de. g -- trade. greta: i think the taxpayers are saying, if you are going to g vote, read it. >> they are forcing them into a plan which i guarantee number of the house will have read this. greta: we did a poll. most people expect they will read the bill. >> know. this is so complex. the scale of what they are trying to do is mind-boggling. greta: it is incomprehensible. do you really understand it? >> i do not know. greta: get her reading it, and i

delauro of connecticut, number two, number three printed in part b by mr.broun of georgia, number two printed in part b of mrs. blackburn of tennessee, number two printed in part c by mr. campbell of texas, number nine printed in part d by mr. flake of arizona, number four printed in part d by mr. flake of arizona, number 12 printed in part d by mr. flake of arizona, number 7 printed in part b by mr. kingston of dwea. the chair will reduce to two minutes the time for any -- >> mr. speaker. parliamentary inquiry. the chair: the house will come to order. >> mr. speaker. the chair: the house will come to order. the gentleman will state his parliamentary inquiry. >> it's my understanding that the first amendment that will be considered is the delauro amendment which is a manager's amendment which incorporates a number of provisions, a number of provisions in fact that do legislate on an appropriations measure. is it not correct, mr. speaker, that within the rule, and the rule was h.r. -- was it 609? the rule? providing for consideration of this measure before t

numbers are going to be huge. it's going to be the mother of all mortgage quarters. so you may have, you know, a nebulous earnings number. >> price target $286 a share. goldman's one of the big names on tomorrow's stock. earnings season crucial. the stakes especially high for the market as it begins this week. companies in the s&p 500 are expected to post 17% drop in earnings compared to the same three months last year. and when you break the market into ten industry sectors, only one, consumer staples, is actually expected to report an increase. joe and becky, our earnings central this morning. hi, guys. >> good morning, erin. good morning, everybody. welcome to earnings central. this is a brand-new location. >> whoa, whoa, why! becky why are you so far, far, far? >> we're getting used to this new setup. >> is it only going to be two chairs all the time? >> we're going to be swapping in and out. manning the earnings central desk we've got the computers behind us ready to go. >> maybe that's why. we want to show t

numbers? >> absolutely. there's less distortion at play for the european numbers. we have to be careful. the german numbers that we saw this week for july included a statistical change which means we saw a fall in unemployment whereas the underlying situation, i can assure you with gdp shrinking 6% this year in germany is substantially weaker than that. so there are some distortions that pay and that's going to be more of an issue for july numbers. >> where are we on that cycle of inflation? >> these are july numbers. what we're going to see is a negative annual rate. this is probably going to prove to be the low point for german inflation. at last year's figures decline, the numbers will look very soft as the ecb has been warning us for some time. we're probably going to see a modest acceleration back into positive territory over the course of the next few months. >> james, this is christine here. in japan, we've got a ten-month high on corporate earnings but on the other hand, we have household spending remaining weak. when will all this good news from the corpor

we'll look at the apple mac numbers. $2.6 million the number he focused on. we're waiting on the apple numbers and will have them momentarily and tell you why shareholders of southwest air are not feeling love today and back talking about the market action and what to expect tomorrow. back in a moment. access to favorite courses chef's meal with pommes frites perhaps a night at the theater with extra special seats additional hotel night, our treat you world in perfect harmony: priceless look for world on your mastercard to get rewards and offers that matter to you. >>> and you're looking at a chart of advanced microdevices. amd reported second quarter revenue at $1.1 billion. that was fractionally better than the estimate of $1.13 billion. looking for a loss of 47 cents a share. the stock is down 8%. the company just reported earnings saying the second quarter revenue as you can see looks slightly better but the loss of 47 cents a share estimate we are getting that number on an eps basis for you. the stock right now is certainly reacting to numbers just comin

in our top five at number four, up from number nine last year.wa scores 1394 out of a possible 2500 points. iowa boasts the lowest cost of doing business in the country. and while the national economy was melting down, iowa's mostly agriculture economy surged by comparison. the fourth-best economy in the country. it was number 29 in that category last year. not that iowa is immune to the downturn. unemployment at 6.2% is rising, though still well below the national average. foreclosures are up from last year, but still far below the national rate. the top individual income tax rate is 8.98%. the top corporate rate is 12%. the state sales tax is 6%. would's largest employer is the principal financial group, a financial services giant with $236 millibillion in assets. iowa's biggest industry is agriculture, the nation's top producer of beef, pork and corn. interesting, last year's number four was idaho. it fell to number 22 this year, and it's all about the economy. so where am i? here's our hint. this hour's hint for business. music city, usa. oka

it is a good number. as we went through the course of the second quarter you saw that search query volumes were growing very strongly but the main question was how well was pricing on keywords holding up. we've seen a 14% decline year over year. in the first quarter we don't have the numbers yet in terms of the details but it certainly looks promising with respect to the second quarter. what's more important to look at going forward is we start to see signs from advertising agencies that search ad budgets for the second half of the year are going to be opening up. and what the company was able to do on the bottom line in terms of margin improvement, 5.36 versus the expectations, shows that they're actually doing a very good job of converting. >> the most important question here for some investors is what do you do with the stock? we're talking about a stock that's come all the way down from 750, close to $800 a share. would you put your money to work in google today in this advertising environment because

his numbers are have been so off.hey don't believe him. >> his numbers are exactly where reagan's numbers were in the first term. sean: wait a minute. of the last 12 presidents he's number ten -- at this point in his presidency he is the tenth lowest. >> first of all, he's dealing with a major economic recession, and reagan's numbers were in that same situation when you're dealing with record unemployment. >> julie, he sold his whole campaign promise was on hope and on change, and i think he has become the president of hype and chump change. sean: andrew, they said we'll feel an immediate impact. unemployment wouldn't go above 8%. >> i think that julie made an interesting point comparing barack obama to ronald reagan because i think he's a reverse ronald reagan because ronald reagan was loathe by the mainstream media, and the american people once he was the president was no longer seen as the evil or stupid man, he was a reasonable man that had the country's best interest at heart. the media has pitched barack obama a

well, i'll see you for the number for rick. >> what number is it today? >> ppi and retail sales. >> you wanted him to see it, pp again. >> kevin, thanks.. we'll see you in calm hours. folks, if you have any comments or questions on anything you see at squawk, e-mail us squawk@cnbc.com. we'll get to the news making headlines outside the world of business when we come back. taking its rightful place in a long line of amazing performance machines. this is the new e-coupe. this is mercedes-benz. tdd#: 1-800-345-2550 including who i trust to look after my money." tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 "the dust might be settling... tdd#: 1-800-345-2550 that's great, but i'm not." tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 "i guess i'm just done with doing nothing, you know?" tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 "oh, i'm not thinking about moving my money. tdd#: 1-800-345-2550 i am moving it." the gold delta skymiles credit card... from american express... it's the official card... of the world's largest airline. and it's the only credit card... that ear

we have a real number and the imperative was to get below the 2200 number.have a range so the u.s. can say that its number was still justified by the interim nuclear posture review. my hope is that by the time the treaty is ratified by the senate, the nuclear posture review is completed and we can say that we can go to 1500 ñbw because it's justified by the review. on the delivery systems, it's in part how you define the delivery systems. and my guess is that the administration has sides -- said to the russians, if you want agreement on that lower number, you have to change the counting rules. what counts as a delivery system enables us to get closer to the 500 number. if you don't want to change the accounting rules, you probably have to change a few, then at the higher number. and the negotiation is between the trade-off of two, what the accounting rules, and the numbers. my guess is that the wkÑrange, lower number will be where the russians expect to be. the higher number will be what we can justify based on the interim nuclear posture review. with the no

mm. >> number three! you're right! >> he doesn't do that now. >> number two? is? sure, your mom can stay a week. >> and number, justin. >> number one was -- ok, we can turn off the game. >> he would never say number one now. or two or three. >> it's funny. as we get closer, we just asked all the married guys, what does your wife say? put it down. you could have done the top 23 with this one. >> i'm starting to understand why your wife beats you. >> where's that cheesecake now? we're having fun. >> i'm so glad. i don't know what these are until we come back from the commercial break and i feel, like, sick about it. >> wait until tomorrow. >> great. >> one week left. >> wow. a week away. >> a week away. >> the city will shed a tear. >> let's get married. >> norm will be back with more on the forecast coming up at 5:00 with the chance of scattered thunderstorms today and more so tomorrow. megan, you're good for it. >> thank you. thank you for joining us. see you tomorrow.

we're still number one in infant mortality, number one in short life expectancy, number one in poverty and home foreclosures, so there is a structural gap that he addressed that must be addressed by government politics as well as will it will be motivated. >> it's good to see you, reverend. >> thank you. >>> we'll take you to newark, new jersey who says it's time to give his city a second look. >>> this is gps, the global public square. welcome to all of you in the united states and around the world. >>> black presidency was also a topic as president obama addressed the naacp. >> we know even as our economic crisis batters americans of all races, african-americans are out of work more than just about anybody else. we know that even as spiralling health care costs crush families of all races, african-americans are more likely to suffer from a host of diseases but less likely to own health insurance than just about anybody else. >> so to take a closer look for our american dispatch series this week, we went nearby. the president was in new york. we went to newark, new jersey. take a look

sanders, proposes an amendment numbered 1903 to amendment number 1813. mr. sanders: mr. president, i would ask that the amendment be considered as read. the presiding officer: without objection. mr. sanders: mr. president, this amendment addresses the issue of district heating which to me has an incredible potential as a force for meeting in this country. specifically what this amendment would do is provide $15 million -- $15 million -- in techchnical assistance grants to institutional entities such as municipal utilities, institutions of higher learning, public school districts, local government, or a designee of any of these entities through section 399-a of the energy policy and conservation act as incorporated by the energy independence and security act of 2007. it would do this by directing $15 million within the $100 million for the d.o.e. industrial technologies program to be directed toward district energy and combined heat and power. mr. president, this nation has a huge opportunity to reduce greenhouse gas emissions, create jobs, and provide reliable energy for

a number of legal efforts, we finally get to see the air force i flyover that panicked manhattan. all that, plus the all-star panel and the friday lightning round, right here, right now. welcome to washington. i'm bret baier. after a lot of lonely weekends, car dealers around the country are bracing for impact tonight. a government program designed to spark sales and get gas guzzlers off the road is getting a high octane reception from the public. now, white house correspondent wendell goler reports the president is looking for more fuel for this program, despite critics who say this is bad for the country's economic engine. >> who would have thought weeks after two of detroit's big three emerged from bankruptcy some auto dealers would be worried about too much business? >> we have been as bis busy as we have been in years with this program. some dealers have run out of inventory. >> it is the going to be the best weekend the auto industry has seen in 100 years. the cash for clunkers program has been so successful, some dealers sold more than a month's worth of cars in a few days,

investigators handle complaints. >> whether they were using a false number or whether they did no number at all, we will prosecute you. >> the executive director says as the economy has declined, complaints against unlicensed contractors have increased making up half of the complaints received. >> you are putting the health and safety of your family at risk. if you put this in the hands of an unlicensed contractor, there are no guarantees and no protections. >> something that this family is finding out. >> that was my savings. >> there are some red flags to watch out for when hiring contractors. they include not providing a full name, phone, and license number. except in cash payments only, not having the letter is mhic on the card. we have a link were you can see if the contractor is legitimate. -- where you can see if the contractor is legitimate. wbaltv.com. >> lisa robinson was honored with a living legacy aboard. one of her fellow reporters presented her with the award. she has been a member of the wbal team since 1995. when she is not asking tough questions, you will find her on th

number one, a weak consumer and number two, a weak financial system. both of those systems, normally speaking, are morrow bust and more clean than they are right now with a lot more power. so we feel the risk, a double dip recession this time around, while it's not our base case, we think the risk is probably higher than normal. >> james within what do you think? >> i think it probably is higher. but i believe with the amount of stimulus, it's unlikely unless we get a policy error and unless the central banks start to raise rates too early. my guess is actually they're going to need to keep rates very low for a long period of time. one of the concerns i have about central banks is they all felt that greenspan kept rates too low for too long and that led to the inflationary bubble. i think it's a very different environment. >> you're not one of the inflationist fear camp? >> no. i mean, i think there's so much talk about inflation and yet, if there's any environment where inflation is really not very likely at all, it's right now. you've got massive amo

just numbers. >> you know what? it's just numbers. but the numbers are getting better. >> they're getting better. they're at least going up instead of down. i'm with you on that. the recovery is at hand. it's a question of how long is it going to take, and how long is it going to be as we bump along the bottom. >> i'm going to declare victory and bail out of that one there. because you heard it, diana olick. our chief expert on housing. i'm going to trunk ate that quote and take it out of context. thank you very much, diana. and do not miss us tomorrow night on "cnbc reports" at 8:00, have we hit a housing bottom. >>> david tice is with us and the ever-bullish bill paulson and steven staller of staller investment group and tom lieden, another bull, and cnbc's rick santelli. where should we start, gentlemen? who wants to start us off? i think this housing -- these housing numbers, despite what diana olick says, i think it's good news. >> what do you think? >> i think we've -- >> i'll jump in here, dennis. as diana said very succinctly,

so what number stormed the house? is it seven? is that the definitive number right now?or could it have been more? >> it was seven on the property. >> okay. >> authorities have said all along that it was actually five people that broke into the house, three coming in through the front door and two from the back. were they working together? we haven't heard a lot of details as to exactly what happened once these men were inside the house. we do know that authorities have videotape of all of that and presumably they've been able to see it. but were they working together? did the two in the front know -- the two in the back know what the three were doing in the front? we can't tell you at this point. and that's why we asked early on, how big was this safe? was part of the reason that they needed five people inside the house, was it to carry something that was going to be extremely large and heavy? they described it as a medium sized one. when we saw the video of it, it was actually much smaller than -- >> that's a good point. let's take a quick break. when we come back we'l

>> i could give the number but i've been advised from security grounds we should not get out the number of helicopters or equipment in a particular theater and i don't think it's been the practice of the government to do so. i can tell you there's been 60% increase over the past two plus years in helicopters and because we've got more capability on the field, because we have more cruise on the field the helicopter pilots can be better used and that's 84% but i don't think it's been the practice of government to say what is the number of particular equipment in any particular theatre. this isn't because i want to hide the information but this is what i've been given in the past and it's the right advice to accept. >> would you be happy to say how many mastiffs have gone out to afghanistan? >> we've been happy to say there's a large group of mastiffs available -- >> you've been given the numbers? >> we've been happy to say there's a large group. it is not enough interest to get out a specific figure. >> not in our interest. do you know how many fast jets there are? >> i haven't given a fi

it's an astonishing number, headline-grabbing number, more than all of the wars fought together. world war ii cost about $2 trillion in today's dollars. it's a huge headline-driving number. the treasury department shades that number, pushing back hard saying it's wildly unrealistic and likely never ever to actually amount to that much money. >> eamon, he's the inspector general of the t.a.r.p. funds. it's supposed to be a nonpolitical group that is assessing what's going on with all of the potential axe to grind? >> actually i talked to neil barofsky the special inspector general last night and asked him exactly that. he said look, we're trying to make the point that his job is just about t.a.r.p., one of the many bailout programs and he was trying to add up the cost of all of the bailout programs. there's a lot of stuff beyond t.a.r.p., what the fed is doing, fdic, what treasury is doing outside of t.a.r.p., all of the other pieces. he was trying to get a catch-all number to capture all of the obligations that the federal government potentially has as a result of this and add it

in asia, india's number two i.t. services company's emphasize beats expectations and raise is its full year profit forecast. >> i'm ross westgate in europe. in the end, the g-8 has debated the currency question after france supported china's call for change. >> yeah. they couldn't resist. after 40 days and 40 nights, the new general motors will emerge from bankruptcy today as a leaner company, but under the government's thumb. >> right. welcome to the program. we just got some data out of the uk. we've got producer prices, june, nsa output prices, minus .2% on the month. the consensus was for it to full minus .8%. sorry, that is weaker than the consensus from minus .8. that is the weakest since dose 2001. the core output prices minus .8% on the month. that is weaker than expected. that's the lowest annual rate since june 2004. and the nsa output prices, down 11% on the year. the consensus was for that to be mean was 12.2% on the year, so slightly better than expected, and the weakest rate since april 20201. james shu

we will break down the numbers the moment the numbers are released. the estimate calls for a profit of 50 cents a share on revenue of $8.83 billion. we're on it when the numbers come out. we'll show you how the stock trades in the extended hours. here's what we're looking at at the close and where the markets settled out. the dow jones industrial average up, yes, but way off the highs of the afternoon. up 81 points. 9152. but look at the sell-off right at the close, actually, despite these strong numbers. nasdaq composite also closing off the best levels of the afternoon-w a gain on the session of 16 1/2. nearly 1% at 1984. and the s&p 500 driven by higher oil stocks up 11 1/2 at 986 despite weakness in exxonmobil. we get all the action from bob pisani, our eye on the floor of the nyse. >> watching to see foote s&p 500 could break into the 1,000. it would be the first time since november of last year it happened. it didn't quite happen but this was st. louis a powerful rally and still a great day. >> but what happened at the close? >> we came off of t

we know those numbers won't go together. in my opinion, the supply will be worse, even with slow growth we might see a pick up in rates and right now the economy is too fragile to handle a pick up of rates and higher taxes. >> you know, we were just talking about how those economic head winds are going to affect the markets. but we'll have a few members of congress on shortly and there's no question, those economic head winds are begin to have a political effect as well. i don't know about the president's perspective, and i think he does care about economic growth in jobs, but i know, house members, senators, they're going to go home over august and they're going to hear about the unemployment rate and foreclosures -- >> he wants to-t done before august. >> it's not going to happen before august. there's no way it will get done before august. so as those members go through the summer and into the fall and start looking to the 2010 elections, these economic facts and figures and job growth and employment are really going to b

you look at the numbers -- i love watching strategists' numbers. normally they should go up a little as the quarter progresses. go back to april. the numbers are actually a little stronger back in april compared to now. except for a few discretionary, consumer discretionary stocks, a few financial stocks, generallight earnings estimates have not gone up. for this quarter and i think the market sense that's, understands that and that's part of the problem. where are we right now in the earning psych snl. >> well, i think from a cycle perspective you're talking about that you're closer to a bottom. analysts have probably overshot in one direction. they've corrected themselves. they don't want to be too fanatical in either direction. so i suspect you'll see a tapering off and just kind of have some mellow estimates, closer to long-term benchmark numbers. >> is there anything that's going to surprise to the up side here? >> i think this earnings season is going to be to the up side. we'll have financials that will probably outperform. technologies prob

a lot of numbers here.oes seem to be quite a bit worse than expectations with a look at metrics, credit provisions they have added, writedowns. >> includes negative adjustments of $1.32 from improvement in morgan stanley's credit spread, 40 cents from purchase of t.a.r.p. capital. a lot of different numbers. hard to say exactly what analysts knew about, what they didn't. >> reaction to these numbers, let's get to former e.f. hutton president. george, i don't expect you to be a cfa type crunching the numbers. whar the most important things to look at with morgan here? >> i think the morgan results reflect very strong investment banking courtesy of uncle sam. the financings they did were primarily follow-on offerings for bailedout banks and placement of debt. investment banking revenues were courtesy of the federal government. most of the other elements, joe, were largely as expected. right -- cost related to the debt, it's passe, factored in. the fact trading results were good but paled by comparison to gold

it depends what the revenue number is. we were looking for 6.1 billion of revenue net of interest expense. you know, they hit that revenue number, it's probably just a reaction to the run it's had into the quarter. >> yeah, the revenue was just about there. $6.09 billion for the revenue on american express for its second quarter. dan morgan, you heard the news on microsoft, and you mentioned earlier that the business component, the business side of the business is very important. it looks like there was some light numbers there on the business side. the stock is trading down. microsoft is in the extended hours. what's your take on the quarter? >> well, you're right, maria, that's a very important segment because that's the selling of basically their office suite, which is very popular. you know, obviously not a good number, below expectations. a little bit disappointing and surprising after intel had such a good number in terms of last week. so i think overall what you may be seeing here, maria, is kind of the -- we're at

a lot about the poll numbers that show his numbers are down a little bit. the honeymoon may be over but it's still a good marriage. the public loves barack obama. we may disagree with him about particular recipes and answers on policies, but we still have enormous confidence in him and that is the reservoir of goodwill he will depend upon. health care is the toughest fight. in addition to the cbo report over the weekend another critical piece. governors around the nation an i had written a piece a couple of weeks ago states cannot afford the additional medicaid costs built into this plan. so when it comes to health care, the president has got to answer and his aides have got to answer how do we control costs? the cost side of this equation hasn't been addressed and i don't think he will get the senate to bite on this when jobs are going down and people afraid of new taxes and additional trillion dollars of spending, whatever the number may be, won't be something they want to be until they explain how do we control costs. he has to say to rahm and other peop

my numbers are street high. i think my numbers are conservative. i think the company's going to report a great quarter next tuesday. and i think the stock's going to go to $175 here in the second half of the year. >> i guess you want to be buying that now is your recommendation. dave, do you agree with that? mobility certainly an area where a lot of poom belieeople believ growth of technology. >> i think in the near term i certainly agree with that. i think we're seeing consumer spending possibly coming back a little bit within enterprise spending. meft most of our companies with the exception of microsoft are more geared toward enterprises.. i agree with brian in the sense that i think the worst is behind us, but i'm not sure we're going to get a meaningful recovery, at least until the back half of next year. i think a lot of investors think the worst is over, and i agree, but i think they're also hoping that things get better in the near-term and i tend to disagree with that, i think we could bounce along the bottom for some time. >> as far as pu

because it hit the numbers. this thing pulls back enough, that's going to be a great stock to participate. >> like i said, go after and own the names that have the exposure, the actual exposure to the residential home sector. >> got it. >> american express, that's where you want to go -- >> next trade. time for after hours action. amgen is trading higher now after reporting second quarter profits 40% on lower costs and restructuring. the company also raising its guidance for the rest of 2009, yes, we talked about it ahead of time. joe told everyone to buy it. mike? >> yeah, michelle, i'm sitting in on the amgen conference call right now, and the ceo just finished up his scripted opening remarks. basically saying regarding health care reform before we move on to earnings what's boilerplate this earnings season out of the industry, that the company supports it and pleased to have the seat at the health care reform table. but let's get to the earnings. so it beat by 13 cents on the bottom line, it beat on the top l

no question. >> a big number and a small number. >> no kidding. all right, christine romans, thank you. >> bye-bye. >>> well, well, well -- >> hey. >> look who it is. it's rob marciano, everybody. he's back from foreign land. >> yeah. can you hear the crickets? cricket, cricket. i don't know if you're looking for applause, but you're not going to get any. >> we had some good weather while you were gone. >> i got off the plane in atlanta last night, low humidity, comfortable temperatures. i thought i got rerouted somewhere else. the southeast again, as you said, very, very comfortable, very, very cool, low levels of humidity, and that's been the story really for the past few days. texas on the other hand has not seen that. check out some of these numbers. 107 in mcallen, del rio 106. some of these places have seen temperatures over 100 all but two days of this month, and most of those have been record. certainly nasty weather for those folks. on the map, temperatures warm down across the south, that's where you're going to see the thunderstorms. ba

i jumped in premarket because the numbers weren't that ugly. they were second quarter numbers. we know all the good stuff happening with microsoft with the third and fourth quarter with the xbox and the rest. >> it hasn't done well the past decade. >> the cash flow and the balance sheet. >> the stock, the stock performance. take a look at the chart and it hasn't done that much. why does win 7 all of a sudden move the higher for microsoft. >> because they've been stuck in the vista vortex. they haven't been innovative on the product side and they haven't broken out. i would argue it has broken out and it has responded to the exciting product launch cycle, that's why you can buy it. >> this to me, i don't know. >> in 12 hours that's the stock you buy. >> i tell you what we need to be careful of, we need to be careful of getting the pompoms out and it's okay. you are talking about the credit cards. the consumer is not okay. we've had a tremendous run. we had a big lift in the market. we wanted this catalyst. we wondered who would lead us this earnings season. it was goldman sachs

we brought the number is down substantially from the june 15 number to the delight to numbers.that is great news. although we have a lot of work to do, we are heading in the right direction. we cannot have dennis about your analysis and advice and counsel. we ought to be grateful for what the congressional budget office has done to guide us through these waters. that is a valuable contribution. we are deeply appreciative of you and your staff. >> thank you. >> stand to recess for 30 minutes. >> want more of this senate health committee markup of health care legislation at our website. also find a link to the congressional budget office report on the cost of the bill. that is that c-span.org. h[captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2008] >> the senate health committee continues the work this morning at 10:00 eastern. we will bring you the proceedings live on c-span 3 and c-span.org. >> how is c-span funded? >> the u.s. government. >> private benefactors. >> a diggs gamez government raised. >> it is not public fu

did we get a number, mark, david, on when they ran the numbers, what did we get on the number of 50, as opposed to 25 and the cost of the bill? >> they didn't give a full sensitivity analysis, but they did run a number, where if if request was to try and keep the dropping of employee insurance low, then, the amount of the penalty, if you started imposing it at 50, would be very, very much higher. it would be in the thousands. they certainly didn't score the 500 number, but i suspect they viewed that as functioning the same as not really having an employer assessment. >> just two points. acknowledging the validity of this debate. because it does go to our economic vitality. i think we need to anticipate as this moves out, we're going to need to know, this debate is going to happen again. rather than doing amendment by amendment request of c.b.o., that we really have an employer range from 500, what does it mean for 250? 100? 50 and so that we're not asking them amendment by amendment. and we anticipate that these are rational quicks that we should be asking about how we can promote ec

numbers seem reasonable this quarter.e like the setup for the stock, particularly for 2010 and not necessarily for the june quarter. >> when do you expect the stock to correct and how much? because your price target is now $5.80. >> i don't expect it to correct if there were to be a miss in the numbers and a material miss, it will correct. i don't think that will happen.. i think street numbers for this quarter are relatively reasonable, $5 and $5.25 for this quarter. >> this is karen. i saw bing move the needle a thineny bit, maybe more than a tiny bit. is there any real threat from bing and/or yahoo if they come out i think they are upgrading as well this year? >> here's the setup. is it bada-bing or is it bada-blip. you had one month of data. i think the conclusion has to be bada-blip. they increased their market share by 40 blips. they increased their market share by 280 bips. and they introduced microsoft cashback and they increased by 70. this year, a $100 million advertising campaign plenty of positive publicity, 4

number two, vote to change management. and number three, i would tell my friends in washington, d.c., if you have trouble with risky pay packages, quit bailing out companies that have them. >> what about that? respond to that, representative. >> only deals with the top five executives. i disagree with my good friend. it deals with the top five executives, and basically, it is nonbinding. it gives the stockholders a chance to know that there are golden parachutes. because too often we heard in the past when someone was with a company, and they -- a public company, and they were there just for a short period of time, they left after 24, 25 days, and this golden parachute was there, and the stockholders had no idea. and so what this is -- basically just like a member of congress. i'm a member of the board of directors. i am here, i vote. we want to make sure the constituency, which i represent, know how i inviteded and why i voted, to make it clear and traerpt. that's what this bill does, makes sure we have the kind of transp

k at the to point number -- look at those dew point numbers. that means low humidity relative to july. stafford at 66. a lot of sunshine for today. a few clouds later on today. noticeably cooler and less humid. highs in the low 80's today. tomorrow, pretty much the same story. comfortable with highs in the low 80's. we will seek a brief return of the heat and humidity. high temperatures up to where they should be. whether looking great this week. >> -- the weather is looking great this week. >> there is a crash on the outer loop by the clara barton part way. this just in according to mdot. i just got off the phone. new york avenue is closed in both directions between bladensburg -- wait a minute. between west montana avenue after bladensburg wrote. this is after the old hecht company warehouse. they tell me new york avenue will be closed for 30 minutes. avoid new york ave. they are still paying a portion of 410 westbound heading over to route 1. only one lane is getting by. i will take you to the camera where it is quiet becausee needed to end

your next number is4 and your file number for your pick 4 is - 2 4642 it is your number. maryland, let yourself plight. check out mdlottery.com. >> we have been getting away with great weather the last few days. we have a stormy day ahead this afternoon. temperatures will be near 90 and a slight chance for severe thunderstorms and we have a severe thunderstorm watch until 5:00. the humidity will go back down later in the weekend. >> thank you for joining us. have a great weekend, everybody.

the charge off numbers from jpmorgan were very high and i think that jpmorgan's numbers from an underwritingpoint is more conservative than bank of america. you have to understand that the area is moving into q4 and start going down with the capital that becomes an issue or not. >> al, what do you think? >> i would have to agree with the statements. when we look at the bank of america tomorrow, it's hard to get a read on today. we have to get the activity out of bank of america and strong lead financing, but jpmorgan is more conservative with the underwriting. the market was looking to crack open the champagne and say consumer concerns are over, but i don't think they are. charge offs are higher and we had stabilization in delinquencies for jpmorgan. we saw that recently the data out of jpmorgan and bank of america as well. tomorrow we will see out of bank of america. >> we just ran a headline. the new york state labor department said the securities industry added 1400 jobs in may and june.. does that shock you as much as it shocks a lot of us? >> it does shock me a little bit. we did see a

but the real shocking number was tin tell number. a rally as a result of that.e key was better revenue growth than expected, better growth margins than expected and in a world that's searching for a catalyst for the market to fight higher ground the rest of this year, that was an important one. >> did you already like tech? or where are you putting your money in in the market 12347. >> i think tech is something that you want to be overweight. mind you, a lot of portfolio managers like tech, but what's quite a feeling is the valuation on a precash flow deal basis and precash flow to enterprise value. from that per speculative, tech is one of the most attractive sectors out there on an evaluation basis which importantly therein back seat much better capital spending in tech. that's helped out the cash flow. and now with the cyclical companies, like intel, starting to see better revenue growth, we're not out of the woods yet, but still better revenue growth. in addition to that, the pockets of the consumer are going to do quite well. 9 out of 10 times, the consumer

you see a number here that's about an equal number of new agencies matching up with the equal number of existing agencies. as you read through this, there are all kinds of components to this that ought to scare any freedom-loving person. the one i direct your a-- our attention to is down here at the bottom they have left-hand circle is this, it takes the traditional health insurance plans, the white that's existing, and now they have to qualify, they'll have to qualify so they meet the obama standard for new health insurance companies. so if you're an american citizen with a murns plan -- with a health insurance plan that you like and you want to keep what you have for a little while you can keep what you have, but it'll have to comply, the insurance company will have to comply with the new standards written by the existing or future health insurance czar, surely we have one or will have one, we have 32 czars or we couldn't have a nationalized health care without a health insurance czar that czar will be writing the rules. it's not in the bill, on what it takes for the traditional he

we think is a cleaner number.says there was a higher number expected some guys on the street were looking for plus 600,000, which was an absolute return to where we were. what we see is there is some improvement. if this is, in fact, a clean number we can say there has been a downshift in jobless claims. when i look back at what we call the insured rate, those getting unemployment insurance, we can see it's ticked down in the past couple of weeks. that in general -- there's the near term chart. there's the downturn. what you'll see is this number turns down ahead of a decline in the unemployment rate. we need -- we have a lot more to go here, but -- and we'd like to see that confirmed but you see here, that number tracks just a little ahead. the peak there of the yellow line and the peak of the blue line, the peak yellow comes before. >> steve, i don't know if you heard earlier, dow chemical came out with their numbers, reported a profit, that was unexpected and made comments that it looks like the american econom

just a few basic numbers. overall, this bill totals $77.9 billion in discretionary funding for fiscal year 2010. this is $239 million above president obama's request and $5 billion more than fiscal year 2009. the v.a., we include $48.2 billion in fiscal year 2011, advanced funding for v.a. medical services, medical support and compliance and medical facilities and $8.3 -- and an 8.3% increase over the historic funding level of 2010. for military construction, the bill provides $24.6 billion and fully funds it at $7.5 billion. for the v.a., the fiscal year 2010, the bill provides $53 billion in discretionary funding. this is $5.4 billion above the 2009 funding and matches president obama's v.a. request, which i should point out was the largest increase requested by any president in over three decades. the fiscal year 2010 increase for the veterans health administration is $4.4 billion which is 11% over fiscal year 2009. finally, i want to thank people who work every day, in fact, day and night, behind the scene

number two, credit card companies trading higher..e've got master trust data for june, american express popped up in the middle of the day. the chargeoffs for their credit cards, these are the debts the company believes they won't be able to collect, actually dropped in the month of june versus may. we also had similar comments from discover. capital one had modestly positive comments as well. look at those nice moves up for those credit card companies. the weaker dollar. shanghai index at a 52-week high. all the commodity stocks are moving to the up side. the big names like alcoa and freeport, u.s. steel, all to the up side. and even the big company international stocks are moving. brazil is up. 5.3% today in the big commodity names like vale and petrobras to the up side. csx had good earnings. airlines are up. amr had a loss that was not quite as bad as expected. some of the other names to the up side as well. finally look at the media stocks. gannett reported earnings better than expected.d. don't kid yourselves, we know ad revenue

number one. number two, we will have to find revenues to pay for the rest. the beginning of this week everyone said, well, we as you when we got specifics on the tax benefits that people weren't going for it. democrats and republicans. key republicans were negotiating with told chairman baucus forget it. now we're looking at other things. here's the good news, david wrshgs wednesday, thursda the finance committee, which is in charge of raising the money, we m met. wednesday, democrats. thursday, democrats and republicans. and laid out many different options. there are a whole lot of options. we emerged from that meeting on both sides of the aisle thinking this is doable. i believe that the chairman's goal to have a plan that pays for it set by the end of this week will happen. now, to get into the specifics -- i know you asked me about a specific. obviously, the surcharge has a benefit. it meets the president's goal of not taxing anybody below $250,000, but i think to negotiate in public when there are many different options is not going to be very helpful,

my amendment number six. >> amendment number six. >> which essentially says that that takes out the numberthat's in here, the $65 premium and just simply directs that the secretary shall set a premium that causes the program to be solvent over 75 years. why 75 years? because that's what we score social security, medicare and medicaid on and when you start reducing below 75 years we're basically playing games with the number, and so an accurate act rarial approach to this to give us reasonable numbers and to remain consistent with the scoring of that is of served. it is an attempt to gain the numbers. that is all this language does. it says, let us strike the number. but this make the program solvent there seems to be a solvent -- a consistent the there should be a solid program. but said they solvent program. it will probably between $85.100 dollars. it to be adjusted. that' is the estimate i have heard. the outside actuaries came in at $100. i am presuming it is somewhere in between. >> that of the secretary's job? -- will be the secretary's job. shall be given a job. that'll be a number