the nasdaq shot up almost 88 points. the s&p 500 rallied more than 42 points. big board volume spiked to just under 1.5 billion shares, while nasdaq volume surged over 2.75 billion shares. here's what sparked the buying. first, european union leaders agreed to cut greece's debt and strengthen their bailout fund to keep larger economies from suffering the same fate. then, we got welcome news in this country. the economy regained some much- needed momentum in the third quarter. but it's clear the recovery still faces challenges. we begin our reporting with erika miller on the u.s. economy. >> reporter: 2.5% growth is welcome relief the economy is not on the brink of recession. better yet, the data may be just the sign some firms need to start hiring again. >> 2.5% to 3% growth is strong enough for businesses to ramp up hiring. right now, businesses have been subdued-- one, because they're concerned about the events in europe; and two, we did have this first-half growth slowdown. >> reporter: the economy has been expanding for nine straight quarters. in the latest

up by right about 0.50% for the dow and nasdaq a little less for the tech stocks, the nasdaq, s&p 500broader market dragging it a little but still up by 0.25% and clearly under five hours to go to the open. >>> aftless than three weeks af steve jobs died his authorized biography goes on sale. former cnn chairman awalter isaacson wrote it. he gave an interview less than two months before his death. it is the number one best-seller right now on amazon and barnesandnoble.com and earlier they spoke to "60 minutes." why did he refuse cancer treatment for so long. >> i think that he kind of felt that if you ignore something, if you don't want something to exist, you can have magical thinking and it had worked for him in the past. he regretted some of the decisions he made and certainly felt he should have been operated on sooner. >> well, publishers moved up the book's release date in light of jobs' death which sparked interest in the computer genius who was also very private in many ways. you're watching "world business today" h we come back we'll focus on the arab spring. the uprisings ha

the nasdaq also gaining ground on the week up over 2.5%. and the s&p 500 echoing that weekly performance up over 2%. >> susie: for the third straight year, the federal government's annual deficit was more than $1 trillion dollars. the congressional budget office says fiscal year 2011 ended with an estimated deficit of $1.3 trillion. that's more than 8.5% of the overall u.s. economy. the deficit is the annual gap >> tom: still ahead, we meet one of those americans finding work recently under the golden arches. and our market monitor still thinks gold is a shining investment. he's mark leibovit of the vrgoldletter.com. >> well, come, not too many shining investments on wall street today, it was a pretty choppy day, to the big triple-digit gains or losses but it was choppy and investors still playing it pretty cautious going into the holiday weekend. >> cautious and choppy, trying to digest not only economic data on jobs today but figuring out what that portends, of course, into the holiday season here. let's go ahead and roll and look at toni

the nasdaq actually lost five. taking a look at overseas trading this morning, in tokyo the nikkei was down three points but in hong kong the hang seng nudged up 42. >>> as european leaders worked on a debt crisis solution thursday, stocks shifted up and down with every development, ending with slight gains. ultimately germany and france announced two upcoming summits promising a solution by the second meeting next wednesday. that calmed investors who, thanks to europe, have seen the market's volatility index rise 11% in the last two days. u.s. economic data also helped drive the seesaw. mid-atlantic factory rebounded in october and jobless claims fell last week. but existing home sales fell last month. in earnings, video conferencer polycom dragged the nasdaq, dragging over 25% on low revenue. ingersol rand fell on forecast. union pacific surged on better than expected earnings. southwest airlines rose on slightly better income than anticipated. "the new york times" soared on higher than expected profits. watch mic

the nasdaq went the other way, down in three sessions this week for a net loss of 30 points or 1%. but the s&p 500 tacked on 1% on the week. >> suzanne: as we mentioned, helping fuel the rally: healthy results from honeywell and mcdonalds. third quarter profits grew nearly 9% for the golden arches. on a per share basis, the world's biggest restaurant chain earned $1.45 a share. two pennies better than expected. honeywell saw profits of $1.10 a share, a dime above analysts estimates on a jump in aerospace sales. meanwhile, earnings for general electric merely matched analysts estimates, the first time they didn't top forecasts since 2008. and, now that we're deep on wall street, experts are weighing in on the quality of the profits and revenues. >> it's very important to note that all of the strength is coming from an increase in revenue growth in asia and emerging markets, and that's helping offset the weakness in the u.s. and europe. >> reporter: that may be the case, but in the last few weeks, european headlines have overshadowed earnings news, good or bad, from many large u.s. c

the s&p added five points, but the nasdaq lost five. look at overseas trading this morning, in tokyo the nikkei was down three points, but in hong kong the hang seng nudged up 42. as european leaders worked on a debt crisis solution thursday, stocks shifted up and down with every development ending with slight gains. ultimately jrm any and france announced two upcoming summits promising a solution by the second meeting next wednesday. that calmed investors who, thanks to europe, have seen the volatility index rise 11% in the last two days. >>> u.s. economic data helped drive the seesaw, mid atlantic activity rebounded in october and jobless claims fell last week, but existing home sales fell last month. >>> poly come dragged the nasdaq 25% on low revenue. enger sol rands sank on low earnings and its forecast. >>> at&t fell on a steep drop on the number of iphones activated last quarter. southwest airlines rose on slightly better income than anticipated. "the new york times" soared on higher-than-expected profit. and watch microsoft today

the dow added 22.5 points, the nasdaq lost a point and the s&p 500 added a fraction. big board volume tapered off from yesterday but still above one billion shares. while nasdaq volume fell below two billion shares. this week, the dow ended with a gain of more than 3.5% thanks to yesterday's big rally. the nasdaq saw three up days adding almost 4%. a similar picture for the s&p 500, tacking on the same amount as the nasdaq. an investigation is underway into a new york stock exchange glitch that caused more than one thousands stocks to have incorrect pricing. the spider s&p 500 e.t.f. trust was among them. this glitch shows some shares were lower, based on the wrongly-coded closing price. the nyse euronext sent a list of corrected closing prices with the affected securities today. another investigation, this one done by the white house. it's looking into the energy department's loan guarantees following the collapse of solyndra. that's the solar panel maker that went bankrupt last month after receiving a loan from the energy department. the independent review will asses

the nasdaq added 15. taking a look at overseas trading this morning, in tokyo the nikkei fell 75 points while in hong kong the hang seng dropped 256. >>> wall street's red hot rally ended thursday as once again banking and overseas issues prompted investors to retreat. banks dragged stocks lower after jpmorgan chase, the first bank to report earnings and widely considered the nation's strongest, reported an investment banking slowdown hurt results. also disappointing investors, china's trade surplus narrowed for a second month. more evidence of slowing. that china data also sent oil tumbling. dalt that here showed unemployment changed little last week. and august trade deficit narrowed slightly indicating some economic improvement. afternoon tech rally kept the nasdaq in the black. yahoo! rose on sales speculatiospeculation vertex rose 5%. research in motion fell in the wake of blackberry's prolonged worldwide service problems. keep an eye on google today. after the bell, shares zoomed on revenue that soar

the nasdaq fell 65 and the s&p 500 off 30 points. for the week, the dow had three up days ending up 1%. the nasdaq was down for three days off nearly 3% for the week. and the s&p 500 lost 5% since last week. >> tom: the summer swoon came as u.s. investors worried about europe and u.s. politicians fought over spending. for the quarter, the dow, nasdaq and s&p 500 were all down over 12% during the quarter with the s&p taking the biggest hit off over 14%. september was the 500's fifth straight monthly loss. investors were rewarded by playing defense. utilities stocks performed the best up about a half percent. the second best sector lost more than 4%, consumer staples. as for the worst sectors, think economy and banking. material stocks lost a quarter of their value. financials fell more than 23%. one place investors did make money-- u.s. government bonds. and remember this bond rally came even though standard and poor's cut uncle sam's credit rating after the drawn out fight to raise the debt ceiling. the yield on the ten-year governme

the nasdaq rose by 69 points, nearly 3%. and the broader s&p 500 index up 2.25% higher at the end of trading. u.s. markets look set for losses when the trading day begins later on today. this is where the futures stand. the premarket actions shows us that we could be poised for a decline for most of those markets. just the nasdaq composite futures that are virtually flat at the moment. >>> i guess that's hardly surprising considering that one of the biggest economies in europe has just been downgraded by moody's and you've got a bank which is on the wreck at the moment. perhaps just a one-hit wonder for investors in the u.s. >>> now, on tuesday, the fed reserve chief, ben bernanke, offered a pretty grim assessment of both the u.s. and global economy, saying the recovery is close to faltering, quote. but there are actually some economic forecasters out there who say that a double-dip recession is not inevitable. cnn's aerin burnett asked tim geithner if he thinks that might be the correct assessment. >> i think it depends real

the dow and nasdaq rallied. so tom, stock market investors can say they finally broke even for this year. >> tom: but susie the s&p 500 index just missed that distinction. still, it was an upbeat end to the week across the board. the dow closed the day up 166 points, the nasdaq adde47and the s&p 500 was up almost 21 points. this week, the dow checked in with big rallies three days for a net overall gain of almost 5%. the nasdaq went five for five adding almost 8%. and the s&p 500 tacked on almost 6% on the week. >> susie: positive news about the consumer spending and retail sales also lifted investors' hopes. retail sales jumped in september as americans spent more on cars, clothing and gas. some analysts are worried it's simply a one month blip, not an encouraging open for holiday sales. erika miller previews what retailers can expect for the season. >> if you are looking for the start of the uniqlo line. it's at 51st street and 6th avenue. >> reporter: long lines are a retailers dream. but don't expect this to

the nasdaq by 3.3%. 3.4 for the s&p 500.about 3.5. markets around the world today are up. >> i think like. i like the sound of things so far. >>> tell us about the changes in medicare. >> a lot of people were worried about this, because it will eat up the increase you'll get on social security. this is the story on cnnmoney.com today. for the most part, it's only going to go up by $3.50. the premium that is. and that will leave it right below $100 a month at $99.90 a month. for medicare part a, the deductible will go up $24 to 11.56. there is good news for 12 million younger or higher income medicare recipients they'll see their payments decrease by $15.50 a month. they used to pay a lot more because of the higher income or just entered the program. now it will even it all out. some people will pay a little more, a few people going to pay a little less. >> if you want more information, find it on cnnmoney.com. >> there you go. >> carter

the dow and the nasdaq start the week in positive territory. very busy week on economic data.hey we get the empire state index and industrial production. and earnings, earnings, earnings. that's what it's all about the next two weeks. this is really the key period for earnings reportings. before the bell we hear from city group and wells fargo. after the bell we hear from ibm. the nasdaq is going to start at 26,677 after rocketing 47 points on friday on the heels of apple's enthusiasm for the iphone 4s. cell phone users could get realtime alerts if they're in danger of going over texting or talk limits. the agreement on the rules has been struck between the sec and the cta. that's the wireless industry trade group. and living social is launching exclusive invitation only food events. the daily deal started offering experiences like a meal in a restaurant's kitchen or a visit to a environmentally sustainable farm. it will be $100 to $200 per person. initially it will be available in the hometown of living social in washington, d.c. but could expand to other major cities by the

last week, the nasdaq and the dow gained.he nasdaq up 188.5. >>> your wireless company now has to warn you if you're nearing your monthly usage limit. many wireless customers are hit with big penalties when they go over their limits. now, they'll be alerted when that is about to happen. >>> an unusual question, what happens if a city can't pay its bills? attorneys for pennsylvania and it's cap pal are in federal court this morning. they're arguing over whether harrisburg can file for bankruptcy. the state says, the cities can't do that. >>> the picture is improving for one of the biggest names photography. eastman-kodak is getting much-needed cash by licenses some of his patents to imax. it will allow imax to brighten and expand big strecreen movies. >>> it will be a photo finish at the box office. it looks like "real steel" has an edge over "footloose." as of sunday, real steel at $16.3 million, and the remake at $16.2. >>> when we come back, why lady gaga says she had a marilyn monroe moment. >>> and why this cheer leader's

the nasdaq is also up 95. that is over three and a half percent. nd p is up 45. >>> during the past hour govern jerry brown unveiled plans of a proposal that would over hall state workers pension. it would shift it to a hybrid system where benefits are combined with a 401k style man -- plan. it would raise retirement age from 55 to 67. it would raise the retirement age beyond 50 for newly hired public safety employees. governor browns plan would require approval from the legislation. >>> ahead, we'll check many on the trail of -- check many on the trial of michael jacksons doctor as the defense makes its case. we'll have a chill in the over night hours. we'll have the details next. >> it's been five years since my son was murdered and i need help. >> friends an family of a has seen -- friends and family of a has seen victim -- of a homicide victim has gathered in front of city hall today. the way to brew everyone's favorite cup in under a minute. way to brew. hey, jessica, jerry neumann with a policy question. jerry, how are you doing? fine, i just

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