the latest beige book report is conducted on surveys in the 12 regional bank districts. it says the housing market continues to show signs of strength while housing prices are increasing across almost all areas. positive signs were reported in the previous bulletin. industrial production is expanding back by an expansion in housing industry. consumer spending is different among districts. it ranges from slight to moderate gains. some regions showed only a slight increase in retail sales. fed officials have been focusing on employment when they decide on their monetary policy. employment is increasing but the pace slow. some businesses are not hiring much beyond replacement. based on the beige book report and employment data to be released on friday, fed policy makers will discuss monetary measures at their meeting this month. u.s. stock prices extended declines on a second day on wednesday as there was added uncertainty about when the fed will taper its prap. program. the dow jones lost 1.4%.. program. the dow jones lost 1.4%.program. the dow jones lost 1.4%.program. the

the report from the beige book, the survey of regional economic activity described the recovery as modest and moderate. so, not much to inspire stock buying. the dow tumbled, and the s&p 500 was down 22 points. here is bob with more on today market action. >> traders are confused, is the economy improving or not. a report on private sector employment by adp was weaker than expected as was an employment gauge in the services industry. that is causing some to consider lowering their estimates for the critical friday's job reports. feds have been talking about purcha -- about tapering the purchase of bonds. and today we got the beige book, noting gains in auto sales and bank lending and hiring, gains in several districts. so what do traders do when they are confused? they lighten up on their position and look what happens. the dow is down, this is the worst twtwy losing sfretreak since november, and the markets are being held hostage to the dollar/yen trade, the yen has been strengthening the past two weeks and did again today. a lot of people borrowed cheap yen to buy assets elsewhere. but

it is not because it is beige, but it could be the absolute beauty, no. it depends how it is done, how it is made, how it looks like. so i was like, let's say, killing the french fashion. i should say france in general. so absolute. it has to be like that. things that i did not feel like. i think it's time i was going, i felt really in love with london. i felt more freedom. when i was going there, it gave me -- [unintelligible] sending like, yes, go on to do the things you feel are good. because it is very conservative in paris. >> only you had come to san francisco. >> yes. >> i can only imagine what you would have produced. [applause] >> that is true. >> here is this good little boy who is be heading classically and is very charming and wonderful and working hard. how did you turn into a bad boy? [laughter] and tell us about the whole business of putting sexuality on the map, as it were. when you go into the exhibition here, it is still shocking to see some of the clothes which are suggesting a kind of pervert petit, never against women. you see a lot o

there were slight to moderate gains in consumer spending the beige book says.onstruction increased at a moderate to strong pace in all districts. on jobs the report says, quote, hiring increased at a measured pace in several districts. and here we see some impact of the sequester. budget cuts that started on march 1st with job reductions in richmond and atlanta, quote, due to cutbacks in government orders or staffing at government offices. on inflation, quote, districts reported level prices to mild price increases. ashley, tracy, back to you. tracy: peter barnes, thank you very, very much. i don't know if the market will like that. ashley: not a lot to get excited about. to peter's point, maybe that just keeps fed money printing going at least in the short term. nicole petallides where we go every 15 minutes. we're right at the 15,000 level on the dow, nicole. >> obviously you want to hear what they're saying pertaining to our economy and basically the overall idea here that things are improving. though, slowly, very slowly, right? there is not saying that thi

we are going to bring you right to the top of the hour, the beige book.hat is really happening out there with the economy. but we really want to know what the fed implications are. it should be a very important report coupled with the big perils at the end of the week. is old world keyboard meeting new world touch screen? will it work? it's about to get really hot. who's going to win and will you join in as well? coming up the top of the hour. in the meantime, back to you. >> the fed is set to admit errors. but it did say its response to that crisis brought time to limit the fall out for the rest of the euro zone members. >> we have seen a back up in yields pretty much across the yield curve. how does it look right now. >> we are on our way to 215, 16, 17. we saw world equities under pressure. the dollar yen is traded under 99. we haven't closed under 99 since may 3. should be no surprise. back to you. >> you probably know that feeling when you find a crumbled $20 bill that you didn't know was there. expert analysis right now from former new york lieutena

last month, beige book said that the economy was moderately growing.d the addition of that word "m "m "modest," everyone thinking, things are starting to slow down. but as you were saying, the fed is running out of bullets right now. what more can they do to help the economy? >> you saw consumer confidence a little better, but we watched the walmart numbers. 150 million americans shop at walmart every week and they're trending lower. >> i want to take off and get ready for the next hour. we've got sergio ermotti coming on the next hour. few people better than that to talk about what he's seeing from clients. >> thank you. >> we have the jobs number. now, today's number was kind of soft on the private payroll. the expectations, art, let's face it, they're not as high again for the jobs number on friday. what are you thinking about that? >> i think they're going to be weak and that's going to set the tone probably for the rest of the month. you've got washington, nothing big coming out of washington. earnings are over. this is a big number for us. and yo

to get a closer look at the path, you have to follow the beige colored path running from west oeast. the storm was huge. ripping through a 17-mile stretch. at least two dozen people killed and more than 300 injured. >>> orioles are heading off to tampa now after winning two out of three in houston. miguel gonzalez winning his third and jim johnson closing the night. hunter harvey in the draft tonight. his dad former big league closer brian harvey. the san antonio spurs have been to the finals five times. they have never lost a game one. tonight it was in the 4th quarter, tony parker outscored lebron and wade to when this ball game. 92-88, it was the closest game won since 1988. tony parker what a performance. we'll be right back.

. >> much of the coastline is either a bright red or a beige print th. >> here we are at the base of telegraph hill on lombard street. this is owned by the city. behind you is a large piece of something exposed. you are looking at a large class that was xextricated in a quarry about hundred years ago. this is a secretive sandstones, shales, accumulated debris. essentially it ended up piled up here. the quarry activity was so intense and they used some much at dynamite that the kind of over blasted. 10 feet of the face was left shattered. you can see the fresh colors and a pile of debris which is precariously perched on the edge of a cliff up there. it is more fresh and more recent than the rest. it stands out because there's no vegetation. there is no weathering of material. those are the kinds of things you look for. >> there are many types of slides. there is the bedrock slides which we are looking at in is a combination of a block slide and where the material is just out of balance and is falling off. rainfall pushes from the ground water and out of the cliff. as you can see, the

on the other hand, when they hear the argument that this company invested years and money finding a beige needle in 50 haystacks and that achieving that takes that kind of work and if you can't be protected, you will never get this kind of research and this kind of benefit to people like us who need it. >> you isolated the dilemma in this case. they decided that a piece of dna was essentially like an elbow. you can't tell other companies i own elbows. i know -- if you want to do research on elbow, you have to pay me first. so that's what they said about this dna. even though it did cost a lot of money and even though there was a lot of effort and money and time expended in isolating this piece of our genetic sequences, they said that is not something one company can own. >> which is not surprising. >> not surprising. it's the position that the obama administration urged upon the court p. we all know how polarized this court is. all nine justices agreed this was the right result. the opinion was written by justice clarence thomas. very interesting, clear discussion of these issues. but the

we have the fed releasing the beige book and added modest to moderate growth. what does that tell you in terms of when the fed may start the winding down of the stimulus and does that impact the markets? >> this is really important, it's been overblown in the marketplace, the fed is considering as early as september in tapering, i think we we do see the head winds seep in the data, the bulk of the cuts over the summer will continue like lie into 2014, that could dampen the overall economic situation. as the fed tapers, they'll still continue to add. you have to think of it as a calibration. when qe2 came out it was 600 billion. by the end of june we'll exceed that in qe 3 and could see the fed even though it tapers continues to buy for some time to come because of the mediocre growth we're seeing out there. >> nonetheless, tapering is going to happen at some point in terms of buying lower numbers of bonds, smaller stimulus. does that impact the stock market? that still -- even though it's not -- the fed is out of the way 100%, does that send the stock market in

it was a beige van. she could not tell if there was anyone else in the vehicle. and the van just plunged into the water and started drifting. people in a sailboat tried to jump in and aid the driver, but they themselves got into trouble and had to be rescued but are okay. you can hear the coast guard helicopter moving in to look from above as well. so right now we've got a van in the water, and from what witnesses say, one driver in the water still. and it's unknown how many people were in that van. and the search has been going on for over an hour.

. >> now, the beige speech, women's rights are human rights and vice versa -- >> now, on the eve of a new millennium, it is time to break the silence. it is time for us to say here in beijing and for the world to hear that it is no longer acceptable to discuss women rights as separate from human rights. >> did you think that was going to become iconic? >> i didn't really know at the time. i had quite a difficult decision-making process leading up to my going. there were those who didn't think that i first lady of the united states should go to china, that there were all kinds of political problems, that should not be ignored and therefore going might somehow condone it, none of which i agreed with. but i really didn't get the final go-ahead from the administration to lead the the time of the speech. now, i'd been thinking about all these issues my entire life and had certainly begun working on them as first lady. so when thinking about the speech and working on it with my team, i knew that we had to be as clear as possible because ambiguity is not our friend in making the case for wom

sales will be reported for the month of may and then on wednesday the federal reserve will release the beigeook. of course, that gives us a snapshot of the economy from different regions across the country. on friday the big number of the week on the economy, the job report for the month of may is due out. typically a market mover. finally today in family finances, more mothers are primary breadwinners now than at any other time. according to the pew research center. greater than 40% of american households with children rely on mom as the biggest or only source of income. while that shows the strides women have made in the workforce, 8.6 million are single mothers who have a median annual income of $23,000. compare that to the 5.1 million married mothers. their median income is better than $79,000. still, though, wives earn more than husband in nearly one of four married couples. that will do it for us for today. thank you so much for being with me. employers in the u.s. have added jobs for the last 31 consecutive months. what does that mean for the rest of the economy? we'll check it out. e

we had the fed releasing the beige book, the regional survey of the u.s. economy. they added the word "modest" to moderate growth. we all know everyone focuses on what the fed said. they added modest to moderate. what does that tell you in terms of when the fed may start the winding down of the stimulus, and does that impact the markets? >> well, this is really important, because i think it's been really overblown in the marketplace. what we've seen is the fed is considering maybe as early as september in tapering. i think actually if we do see some of the headwinds from the sequester continue the seep in the data which we started to see the bulk of the cuts are over the summer before the end of fiscal year 2013, and they're going to continue likely into 2014. that could really dampen the overall economic situation. and as the fed tapers, they'll still continue to add. and i think you have to really think of it as a calibration. when qe2 came out, it was 600 billion. by the end of june, we're going to exceed that in qe3, and we very likely could see the fed, even t

it has six articles, 236 pages, and it's in one handheld convenient binder and a stylish beige. look at that if you like. >> watch your back. [laughter] >> what i have here is our current planning code. volume 1. volume 2. and volume 3. it has 11 articles, 1,335 pages and three volumes. so, somewhere between 1979 and 2013 we added 1,0 99 pages to the planning code. ~ [laughter] >> thanks for the city attorney for letting me borrow that. i didn't want to bring it all the way from the department. so, to put this in some sort of perspective, 13,000 residents or 4 square miles, that make it about 27 pages per square mile and 600 residents per page. in comparison, you have new york city which has 2.85 million people spread across 200 square miles and its zoning has 3,595 pages so that's an average of 11.nine-pages per square mile, about half as much as and 275 residents per page. so, what does it mean? it's just a simple way to illustrate that san francisco has a very complex planning code, especially for the size and population, even in comparison to a more complex, although arguabl

it is not the case remains and it isn't the case the headline measure that he came up with today a beige jobseekers allowance people who struggle to be able to speak english who are trying to pick up welfare payments these are actually the most vulnerable people in our society who is attacking there were no measures today which would have a serious effect on the rich so what effect do you think the changes will have in the welfare of those who are sort of at the bottom rung of the ladder so-to speak. so they try to cut little bits here and that it's basically a trimming operation so for instance you're not allowed to claim jobseeker's allowance the week off do you know you need to be looking for weapons for ukraine the allowance is a quite small measures and i'm expected to bring in very much there are some alterations to winter fuel payment which will affect ex-pat brits living abroad really very small measures most of the money of course comes from government departments many of them losing up to ten percent of their spending the effect that has is almost it's very difficult to quantif

now we've had a weakish beige book, a weak private sector employment report as well, which has also been seen as bad and the major indeces fell heavily on it. what is a concern is the service sector and manufacturing are both seeing sluggish signs. as a matter of fact, manufacturing dropped 6,000 jobs last month, according to the adb private sector survey. and this, of course, ahead of the big payroll figure tomorrow. we're expecting 170,000 jobs created. elsewhere, though, it looks like apple does look like it's expanding its workforce, at least will go 50% higher as cupertino base if plans are approved by local officials. it wants to build a new campus, which has been told will look like a spaceship, basically, a 3.5 million square foot, 7,500 new employees could be working in cupertino if they get their way. and at car price service is launched by evans.com. this will give a locked-in price online, which is hard for car buyers to get over the last years or so. it means consumers can get a locked-in price, no haggling. the only problem is it doesn't take into consideration trade-ins an

as i say i support holding the vote on iraq in my premiership when it was beige of libya. i recalled th the house as thosf us the house as the apostle could and allow the host of a vote. this issue doesn't arise at present because we've made the decision to arm the rebels. >> thank you, mr. speaker. yet again we have no interest in the prime minister who blames everyone but himself, denies crisis in the a&e. but let me give them one more chance to try to give an answer to this now. why doesn't he admit what it went in the house service knows, his 3 billion we organization has diverted attention and diverted resources away from from patient care and he has betrayed his promise of. can we now have an answer of? >> the abolition is discovered has brought about is going to put billions of pounds extra into the nhs. but the point the honorable member has to take on, this government made a decision which was not to cut the nhs. we are putting 12.7 billion pounds extra into the nhs. that decision was described as a responsible by his own shadow secretary of state. if labour were

we have got the beige book come out. it was not perfect. things are moderately modestly improving.n't call it a negative report. why is the market moving down again from there. fraders talk about maybe the central breakers or policymakers. i think bhen you listen, he talked about the economy, some guys say we will up 14%. >> is there a little bit of nerves? >> okay. let's get the street talk right now. >> you look at the home builders. weakening. itb. now incorrection territory. >> down about 10% or more. we have got aig and it is saying something quite interesting. >> down a huge headline. the chinese group buying the plain leasing business. i was talking to the morning star. the bigger point here is that aig is continuing the broader strategy. >> okay. >> and we have got bed bath and beyond. >> finally a little green on your screen. they are fans and range into a buy. they say listen, it is valued around 11 times. upside is $82. >> we brought this in. >> this is maybe something people have not heard of. mattress firm. big name investors involved here. >> a very down day today. we

colores beiges, una cartera que bÁsicamente hace todo el look. >>> chicas, hay que buscar ese detalleÉ bueno. >>> eres mi gurÚ. >>> y todas las comadres votaron. >>> que bendiciÓn que estas hermosas mujeres en toda latinoamÉrica y estados unidos nos reciban en casa y voten. gracias por permitirme ser parte de este proyecto de "despierta amÉrica." y haber estado en casa. >>> lo bueno es que te vas y viene malillany. >>> o salinas? que prefiere. >>> o viene el diamante negro o viene... >>> el diamante negro trabaja para mÍ. Él podrÁ venir. >>> te queremos. >>> gracias por todo. >>> gracias a ustedes. y vamos con raÚl y tierra cali. >>> oigan, yo tengo una conversaciÓn con ellos que ojaÁa pudiÉramos compartir con ustedes. nos acompaÑa la agrupaciÓn "tierra cali." y vamos a darles un fuerte aplauso. (aplausos) >>> cÓmo estÁs, humberto? >>> bien, gracias a dios. y cÓmo respondes ahora? >>> relajado. tranquilo. y hablamos de como el estrÉs puede volvernos locos no solamente en nuestra vida, en cualquier carrera, y al final no vale la pena, lo importante es trabajar, y para disfrutarlo, haci

the beige book, as it's called, released eight times a year, based on antedoal information from the economyathered from 12 # federal reserve banks. that report, though, not helping out. get the answers to the floor show, traders standing by at the new york stock exchange, the cme group, and, plus, we have nicole standing by on the floor of the new york stock exchange. we'll get to her in a moment. first, the traders, you know, this is one of the trading days where it's hard to make sense of why the market is under pressure. you'd think with the adp report, doreen, that markets react positively because that means the fed is going to continue to back the markets. what's going on? >> well, i'mmnot sure. see, that's really where we have this conundrum. half traders think the fed staying here is good, and the other half think staying here is not. we have a weak economy. obviously, today, the market is on the side of the feeling we have a week economy. the overall news so far this week is not good from china or europe and adp not looking good the rest of the week for initial jobless claims and nu

he was last seen wearing a great cap with your covers, a beige jacket and gray slacks. >>> a piece of land slated to become condominiums has been taken over by protesters, a group called liberated the land has moved to an area that has been a community garden known as the hayes valley farm. the activists have replanted crops and say they are sleeping in the trees to keep them from being cut down. in the last two days they have been getting notices from the san francisco police advising them that they are trespassing. the protesters say they are not leaving. >> the plan is to be present, we went to start a dialand discussion with the neighborhood and community have how to preserve this is an open green space, maybe transition the property to a collective common, we are willing to do direct action to halt the space as long as possible until the dialogue gets off the ground because we have heard support from every neighbor. they want to the trees, they want to have a community garden. >> the group is collecting signatures for a petition proposing the city split the cost to buy back the l

the book is a compilation, this is the beige book of economic conditions in each of the 12 fed districtst to the state of the economy around the world. this is a key economic gauge used at fomc meetings. ashley: the number one thing to watch tomorrow will be the adp employment report. it is set to be released at 8:15 a.m. eastern time. economists expecting private payroll employment to rise by 165,000. that is a big jump. don't forget from last month's readings which was just 119,000. many of analysts we've spoken to, liz, said this is friday's numbers, of course the nonfarm payroll numbers will be very important. sometimes we get a little insight from adp in the private sector. liz: watch oil tomorrow. oil based very strangely today. first it was down and reversed and went higher on perhaps news syria had been using chemical weapons. concerns what will really happen with opec. oil began to move up. then it began to move down. so watch the crude market very closely. ashley: we will indeed. we should mention the tuesday streak is now over. 20 tuesdays in a row the markets finished in the

at 2:00 p.m., the fed releases its latest beige book report.look for reports today from brown-forman, maker of jack daniel's whiskey. some of you may know that. and homebuilder hovnanian. ♪ [ agent smith ] i've found software that intrigues me. it appears it's an agent of good. ♪ [ agent smith ] ge software connects patients to nurses to the right machines while dramatically reducing waiting time. [ telephone ringing ] now a waiting room is just a room. [ static warbles ] what do you do when you can no longer get around like you used to? when you fear losing your independence? who do you call? call hoveround now, to see if you qualify for america's premier power chair. hi, i'm tom kruse, inventor and founder of hoveround. now you can do more, see more, enjoy life more. here's why hoveround makes it easier than any other power chair. hoveround is more maneuverable to get you through the tightest doors and hallways. more reliable. hoveround employees build your chair, deliver your chair, and will service your chair for as long as you own your cha

are you really chief of staff or ar are you kind of beig marginalized by this circle that goes pretty far back with the president? >> rose: the book is how the center holds, obama and his enemies, by jonathan alter, lots of people have talked about books that he has done, jonathan alter is, new teddy white says the chronicle, this gives a new perspective, this is about his earlier book, new perspective on the 44th president, what it is like to work in the white house. you continue that kind of reporting. thank you. >> thanks for the teddy white shoutout. >> rose: back in a moment, stay with us. >> rose: cuba gooding, jr. is here he won the oscar in 1997 for an unforgettable performance in cameron crow's jerry mcgwire's and makes his broadway debut in the classic the trip to bountifully he plays alongside a great company with sicily titan and vanessa williams here is look at the play. .. >> .. you know what you look like standing there? >> who? >> my papa. >> what? >> look just like him. >> of course, i noticed as you grow older you look more and more like him. my papa was a good-looki

we got this fed beige book today, officials sounded a little more optimistic, no engage in real estate and bank lending and hiring aids in several districts. so what do traders do when they're confused, larry? you know what they do, they lighten up on their position. the dow is 1.29%, the lost two-day losing streak since november. back to you, larry. >> many thanks to bob pisani. >>> now, in big political news today, president obama replacing his security adviser tom donelan with u.n. ambassador susan rice, they call it a switch from leaker to liar as we have heard rice lie over and over again on the terrorist attack in benghazi. so as obama -- >> what happens in benghazi was, in fact, initially a spontaneous reaction to what had just happened hours before in kai. >> reporter: it began spontaneously in benghazi as a reaction to what had transpired some hours earlier in cairo, where, of course, as you know, there was a violent protest outside of our embassy sparked by this hateful video. >> the fact is we had four dead americans. was it because of a protest or guys out for a walk one ni

position in treasuries, we would need some really strong data, whether it's tomorrow with the adp and the beigeook and the service sector sentiment, or the nonfirm perils themselves. >> erin, what do you make of this push and pull? one day we're saying that the tech trade son. and here we are asking is risk off at this point. >> this is very much an economy of two steps forward, one step back, just like we've been seeing these mixed indicators. and we definitely see that i think the tapering talk is a little premature. certainly those dividend-yielding companies have had a nice run up. but we still feel it's a little premature. >> let's bring in louise yamada, the managing director of yamada research. she'll be sticking with us for the entire hour, giving us a technical perspective throughout the various stocks. you're actually seeing some positive signs for the overall market. a structural bull, if you will. >> well, yes. we've been establishing the evidence over a period of about a year, pieces of evidence that could argue that we are beginning a structural bull market. with the liftoff and t