i'm alison kosik at the new york stock exchange.e senate is set to vote on president obama's multibillion dollar jobs act. they've been pressing congress to pass the bill for weeks, stating the economy is weaker than at the beginning of the year. many observers say the full proposal will not pass. the u.s. federal reserve's latest stimulus move dubbed operation twist will be laid out in detail on tuesday when the fed relesions the minutes from its most recent policy meeting in september. retail sales figures for last month are due. figures last week indicate that retailers posted a decent back-to-school shopping season. the report will give insight into consumer spending as we approach the all-important holiday shopping season. also coming up, we get readings on consumer spending, sentiment, trade balance on import and export prices. in washington, the house will vote on deals to renew funding for workers who lost their jobs to outsourcing. the senate will also vote on trade deals with south korea, colombia and panama. the deals are

i'm alison kosik at the new york stock exchange.of the biggest firms are expected to post results including bank of america. we'll hear from wells fargo, citigroup, goldman sachs, morgan stanley and american express. ibm, intel, microsoft and apple are also on the list. this will be apple's first report since the death of steve jobs. also on the earnings calendar, dow members coca-cola, mcdonald's and johnson and john, at&t and verizon. american airlines parent company amr will also be filing. several competitors are expected to report their quarterly numbers this week. this week the most closely watched monthly housing report, existing home sales from the national association of realtors. also on the document, we'll get the readings on inflation at both the consumer and producer levels and the federal reserve will release its beige book. i'm alison kosik at the new york stock exchange. >>> investors everywhere will be watching china on tuesday due to release its third quarter gdp figure. analysts are expecting a mild slowdown in gr

. >>> all right, alison kosik is at the new york stock exchange. keeping track of all the fees in the banking industry. bank of america upset a whole lot of customers last week with a $5 debit card fee. well, now, another bank is upping the fees. alison, who is it this time? >> oh, yes. so, this time it's citigroup. citigroup will begin charging for checking accounts. get this, if you have an easy checking account with citigroup, they'll charge you $15 a months if you don't carry a $6,000 balance in your combined accounts. right now easy checking is free, so, yes, they will nab you for that. now, if you have an upgraded mid-level checking account, they will charge you if you don't carry a $15,000 balance. they say get used to this because more of these big banks announcing more and more of these fees because the reality is the regulatory environment is changing right now. it's getting tougher on the banks, but some senate democrats are telling consumers, you know what, if you don't like these fees and you think they're too high, just switch banks a

. 70% of pumps tested were highly contaminated with the bugs most likely to make you sick. >>> alison kosikhe details with big changes at one of the world's biggest technology companies. we love hearing this, alison. >> yes, we do. this is significant because ibm's new ceo is a woman, virginia rometty takes the helm at ibm next year. she has been there for quite a while, about 30 years. she is known to have gotten ibm into cloud computing and analytics. she is also known to be the person who led the watson computer project, you remember that. the computer that beat humans on jeopardy. on this news, ibm shares aren't moving too much because ibm has been doing pretty well lately and this is expected to be a smooth transition. still, kyra, a female leader is notable. she could wind up being the highest profile woman in all of corporate america. kyra? >> alison, it's 2012, right? we should see more, well, we're approaching 2012. we're almost there. i'm already jumping ahead. why, we shouldn't be talking like we're still having to break the glass ceiling, right? we should see more major companie

max, thanks. >>> all right, alison kosik at the new york stock exchange with the steps one woman tookn she heard about bank of america's new $5 debit card fee. alison, you know, a lot of people in support of what she's doing. >> yeah, you know what, let's get in line right behind her, right? this woman took matters into her own hands. you know, we heard of many b of a customers threatening to leave the bank now that the new debit card fees going into effect. this washington, d.c., woman, she threatened, but she did much more. what she did, she started an online petition and already gathered more than 150,000 signatures. she went ahead and presented them right at a bank of america branch. she cut up her credit card and debit cards on the sidewalk out front and walked inside and closed her account. she appeared on cnn's "american morning" today and she said, believe it or not, the teller seemed unphased. >> they didn't really have a lot of reaction. i think they were taken aback but just kind of a normal transaction. i went in and gave them the petitions and i closed my bank account and

alison kosik, let's start with you. we've been talking about the debit card fees and now checking fees? explain? >> we're being feed to death between the air lies and the banks. city bank is now jumping on the bandwagon. if you don't carry a $60,000 in your banking account, it will cost you $20 a month the regulations are tighter on banks and making it tougher for them to lend money. some senate democrats are saying, switch if you don't want to pay it or go to the credit unions as well. that's another option for you as well. >> are there more fees to come, dare i ask? oh, yes. this is not going away any time soon. and they are saying that they have to raise other fees to pay for the costs, like payroll, they have to pay for their employees, technical networks. regulators say, wait a minute. there has to be consumer protection, especially after the financial crisis. but we are being nickelled and dimed to death for our banking, brooke. >> alison kosik at the new york stock exchange, thanks. >>> next, on reporter roulette

with the week ahead with poppy harlow and alison kosik. th alison in new york. >> hi, fredricka. wall street had a case of the jitters last week. the dow had moved up one day, down the next for 11 straight sessions until posting back-to-back gains at end of the week. that lack of direction shows investors are nervous and one of the biggest concerns is europe's high debt. still, the dow ended at its highest level in 12 weeks. good news for senior citizens, social security checks will increase by 3.6% or an average of $40 next year. checks are getting bigger because inflation is heating up. the last cost of living adjustment was 2009. now poppy harlow has a look at what's coming up in business news. >> thanks so much. wall street is looking ahead to the third quarter gdp report set to be released. economic growth in the first half of the year averaged less than 1%, not nearly high enough to bring down unemployment. analysts say economic growth remains sluggish throughout the summer, but do expect that it was enough to keep us out of a technic

police are now investigating. >>> all right, alison kosik at new york stock exchange.bout ready to ring in 30 seconds and we are expecting a big rally. >> we are. the futures right now pointing to a 200-point leap for the dow. yes, it could be safe enough to actually crack open that 401(k) and take a look at how your portfolio is doing. this is after european leaders finally came to a deal on how to deal with europe's debt issue. so, investors have been wanting this for month and finally got it. a solid outline of how a plan could help get europe out of their debt crisis. there have been some jitters all week that if the agreement fell short of what wall street was hoping for that we could see a selloff but clearly not the case that investors seemed happy what european leaders delivered at this point. some are still skeptical, they want to see details to carry it out. we have positive opening for the dow right now rising 79 points. kyra? >> this is pretty good, but we know, it's early on. even though we're projecting a great rally today, right. we're off to a good star

i'm alison kosik in new york. >> friday marks the 21st day of what's been called occupy wall street.monstrations by ordinary americans against what they see as corporate greed, income inequality and the long list of social ills. >> the movement started in new york's financial district where police have scuffled with protesters accused of blocking streets and walkways. by thursday the demonstrations spread to more than a dozen u.s. cities. this gathering took place in austin t state capital of texas. >> we got sold out. >> the banks got bailed out! >> and this protest was in sacramento, california. the occupy wall street protests are to continue on friday as the movement continues to spread to other cities. >> those protest scenes on tv not just in the united states and also on cnn, they're also being broadcast in iran. as you might expect, they're accompanied by criticism of the west. jonathan mann examines the coverage there. >> reporter: occupy wall street. opportunity for iran. iranian news outlets are using the current protests to level harsh criticism at the u.s. state-run press

let's go live to alison kosik. now what is he is talking about? >> okay.ow he says that 9-9-9 is really 9-0-9 but for some people. so what cain did today, he announced a couple of changes. two things. now he's allowing for some businesses to go ahead and take deductions but the bigger thing here is the 9-9-9 plan and critics say that it puts the burden on low-income americans, many who are not paying income taxes now and cain addressed that in detroit today. let's see what he had to say. >> how do we deal with the poor, those that are at or below poverty level? we already had this provision in there and we raise the same amount of minute. if you're at or below the poverty level. your plan is not 9-9-9. it's 9-0-9. say amen, you all. 9-0-9. >> and so what is means sl people in poverty will be continued to be exempt poverty and that sl a family of four under $22 thourk. that's because it wipes out their tax liability. for these people that will not change if he becomes president. it will be 9-0-9 for them. keep in mind, however, they would have to pay the ne

. >>> next, alison kosik at the new york stock exchange. alison, moammar gadhafi is gone. but libya has a lot of loyal. are we about to see a rush for libya? >> oil companies are anxious to get in on the oil action. i'm talking about big companies, like conocophillips and they are going to keep tabs on how things change. during the regime, there was a 93% tax. looking at the comparison, a 75% tax in nor weigh. oil companies want to see if they are going to be the changes that happen. will the royalty rate change? will they have more access to explore for oil and the legal contracts that they enter into, will they hold up with the new government? you're going to see oil companies treading very closely because they know that there is big potential for profit but they don't want to be left hanging. brooke? >> i also want to ask you about netflix. we talked a lot about netflix in the last month or two. they have lost thousands of customers. >> they have made some big missteps. the hits keep coming. they lost 800,000 subscribers from july through september. that's after a huge

next on reporter roulette is alison kosik at the new york stock exchange. >> surprise, surprise, most banks are not going to follow in bank of america's lead. now vrivals say it's not becaus of the outrage over b of a, but that reaction has influenced their thinking a little bit. chase is going to be continuing testing its debit card fees through next month and "the wall street journal" says chase will not make those fees stick. same with credit card issuers. pnc, key corp, you are not going to see any monthly debit card fees there either. >> do they have fewer fees or finding other ways for them to charge us? >> oh, you know what? we could end up, don, paying in other ways and we probably already are. look at checking accounts. most are not free anymore. only 45% of checking accounts are free. compare that to 2009 when 60% were free. the reality is that these banks still have to make up for lost revenue. there are new regulations in place cutting in bank profit. so, yes, i think that you can safely say that banks will get creative and make up for that lost revenue. >> alison kosik, t

alison kosik is at the nyse. >> there is a harsh reality with the jobs report. a reality that 14 million people are still out of work and six million peopleville not had and the number revised higher with the month of july, while those are all positives, few are going to argue that this was a strong jobs report but at least it's easing fears about a double dip recession. don? >> alison, all week we have heard outrage over bank of america's debit card fee. what happened to the outrage? >> oh, yeah. so everybody has been outraged after bank of america is going to tack on a fee to your debit card early yex year. this woman took her outrage one step further. so what she did was started an online petition. she has gathered already 150,000 signatures on it. she went ahead and presented it at a bank of america branch and sat on the sidewalk before this, though, and cut up her credit card and debit card and closed her account. so she appeared this morning on "good morning america" and said that the teller didn't seem very phased by it. >> she didn't really have a reacti

we'll get there, alison kosik. thank you very much. >>> and next on reporter roulette, chad myers, surf is up? >> yes. surf is up my friend. this is san diego. two words for you, bio -- >> i was totally blown away when you said that in my office. >> it is awesome. >> explain this. during the day it's red because there is algae out there. not really harmful and using up a little bit of oxygen. >> look at that. >> fish may be swimming away. but when the water crests and excites these little dynoflagulates as you said, they light up. literally, they light up at night. we have a picture of a surfer and right in the tail of the surf board it was all electric blue. >> so is this an anomaly in southern california? >> it is. >> so when i go to enneat as it, not kidding, i go there in a couple of weeks, will it remain that way? >> there is no telling how long that will last. the tide can take it away. the current will take it away. >> if it were to happen, will it be a west coast thing versus an east coast thing? >> yes, fo

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alison kosik following this story for us from "new york stock exchange. what is going on?lly after the outrage after bank of america said it was going to start charging its debt card users $5 a month. now it seems most banks will not be follow b of a's lead and most say it's not because of outrage over b of a, but, come on, that influence had to influence their thinking just a little bit. first of all, chase will be continuing testing debt card fees through next month but chase will not make those fees stick. same with other major card issuers. u.s. bank corp, citigroup, all of those will not have those monthly debt card fees either. but reality is, they've still got to make up for all that lost revenue from a new regulation that limits how much money banks can make from those swipe fees. alina, what that essentially means is we could pay another way because, you know this, banks could be very, very creative. >> some might say fritricky. the opening bell is less than six minutes away and the last time i checked, the dow futures were down after that huge rally on the dow ye

alison kosik is joining us. i think what you see happening here is after the european debt deal came out, investors sloufed on it. they are processing it. and now some concerns are coming out about the deal. for one, who is going to pay for it? how is it going to be implemented? there is the realization that what it does is plug the debt hole for greece. it doesn't boost growth for euro zone but a quiet day may be good for the huge run-up. the fact is, the market is not swinging wildly. they are holding on to these gains. the s&p 500 is up 13%. it's having the best month in 37 years. of course, we now have less uncertainty. the recession fears have been put on the back burner. the question is, can this run-up be maintained? >> let's talk about this euro debt deal, now that they have gotten over a huge hurdle. what is next for the markets? do we know? >> guess what? we get to go from one debt problem to another. analysts say what you're going to see happen is the focus will shift back to the u.s. debt debate happ

for that, we want to check in with alison kosik. we'll do that in a moment. first, paul steinhauser, who has breaking political news. >> i know we were just talking with you and me and jim acosta a few minutes ago. an update on chris christie. his office just put out a statement a few minutes ago that he will have a 1:00 news conference today in trenton, new jersey, in the state capital. so, everybody is wondering, is this where he is going to decide and make a decision on whether he will or won't run for the gop nomination. we don't know. all we know is that he's having a 1:00 news conference. cnn is working to make sure we have live coverage of that event, martin. >> he holds press conferences all the time. anything different about how he announced this? >> it was just announced moments ago. so, this wasn't a previously planned news conference. his schedule yesterday that came out for today did not have it. we're working our sources and trying to find out what he will bring up at this news conference. >> i bet you are working your sources. paul, thanks very

. >>> alison kosik at new york stock exchange with third quarter earning season is getting off to a pretty slow start. alis alison, what can we expect today? >> today europe remains in focus, kyra. the issues in europe reaching ahead. more talk of a recession and greece is getting closer to running out of money. sometimes all about sentiment. why we're seeing stock futures in this country here higher because as things get worse, there is this optimism. there's this growing belief that something will get done. today we're expecting to hear more details about a plan to recapitalize european banks and basically getting their balance sheets in better order. kind of a safety net if greece will default. it sparked a small rally in europe. that is spreading once again a u.s. sail. an iraelian american man is in custody. a member of iran's revolutionary guard. this morning u.s. diplomats are calling on allies around the world to get tougher on iran. some say that sanctions are not enough. peter king calls the plot an act of war and says the u.s. should not dismiss the idea of military action. vice

alison kosik joining us now. alison, critics say it ignores the americans who really need the help the most. let's talk about that first and then talk about how this plan, the administration hopes will help the housing market. >> okay, you got it, kyra. this was announced yesterday and now, of course, everybody had a chance to sit on it and look it over and now the critics are coming out of the wood work. what the critics are saying is that this plan doesn't help people who have fallen behind on their mortgage payments because you have to be up to date on your mortgage to qualify for this new plan. also, it doesn't help people who are already in the foreclosure process and, i'll tell you what, there are a lot of those. moody's says 3.5 million people in foreclosure or seriously delinquent and those people are most in danger of losing their homes, but the thing is, they do not qualify for this program, kyra. >> okay. alison kosik, we'll talk more about this through the next couple of hours. stay with us, in just ab

. >>> all right, alison kosik at the new york stock exchange following a big glitch at wells fargo. lison, we're hearing customers bank statements were mixed up. >> you're exactly right about that. a big oopsy for wells fargo because wells fargo said it sent out bank statements to the wrong people. more specifically, it says some september statements were mixed up with statements from other customers. the bank is not confusing news reports that thousands were affected, but only seems to be hitting accounts that were open in florida and south carolina. our jacksonville affiliate wjxt talked it one customer. >> my name, my whopping balance of $16.45. different transactions and i gained about $115,000 overnight. >> oh, can you imagine that? well, wells fargo is blaming a faulty printer for this big mess up. they have taken that printer out of commission, not using that printer any more. now, for customers who were affected. wells fargo offering a one-year free of identity theft protection and the company is also saying, kyra, that online banking statements are not affected in this mess.

>> thank you, alison kosik. obama is offering help for the college students out there drowning in debt. in denver, next hour, the president will promote two new measures to help college graduates repay the loans. and student loan debt has surpassed credit card debt, and it is the most issue worrying students now. >> we hope to come to college to pay off our debts and have a better life, but we are drowning before we start. >> if you don't go to school, you can't get good job and make good money, so they have to balance it out and bring down the tuition costs. >> well, it is a a problem, because i don't have the money to go to school. i want to get the education i need to succeed. >> one of president obama's proposals involves a loan repayment program based on the college graduate's income. starting in 2014, loan payments will be based on 10% of the discretionary income down from the current 15%. the president plans to move up the start date for the new lower terms. the other proposal encourages graduates with di

alison kosik is standing by live at the new york stock exchange. expect their cases to be reviewed? >> so the new program that you're talking about could be announced within weeks. this coming from the wall street journal. and what's exceptionally goi le essentially going to happen, if you were foreclosed, don't expect to get your house back. but the reality is some people could get some of their money back. it may come with strings attached for instance like you wouldn't be able to sue the bank later on. so this would only involve people who were foreclosed on in 2009 or 2010. the "wall street journal" says that adds up to more than 4 million americans. these reviews that would happen would really be happening on a case by case basis. so everybody wants to know how are you going to know if you're one of those cases. so what will happen is federal regulators are expected to launch this big campaign to get out there and notify people. tell's send out mailings, they'll put up a website, a toll free number. and just because you get reviewed does not m

alison kosik is live at the new york stock exchange. some people expected the protests would fizzle out, but they're now gaining strength and spreading across the country. what's going on? >> reporter: exactly. yeah, when you say spreading across the country, big cities like chicago and seattle and l.a. that's where these sort of "occupy wall street" protests are spreading. it seems like they became more empowered after the arrests in new york when hundreds marched on the brooklyn bridge, essentially shutting down the bridge to traffic for a few hours. they were ticketed and arrested and when they got out of lockout they went up to what they wanted to do, which is hold their signs at a park in the financial district. so really not much is letting -- they're not sort of slowing down any time soon from bha i see. >> i understand this is a group that's kind of a bit disorganized to say the least. it's not clear who is actually participating. tell us who is behind these protests, and what are they protesting? what's the main point here, if

. >>> want to get more on cain's plan, for that we turn to alison kosik on the new york stock exchange this plan. what does he mean by that? >> first of all, keep in mind, overhauling the u.s. tax code is the centerpiece of cain's campaign, the goal of his campaign is create a fairer tax system. he wants to throw out the current tax code in favor of a flat tax, 9% corporate tax, a 9% personal income tax and 9% national sales tax. it would look to end all deductions. payroll taxes and estate taxes. even capital gains. the flat tax has been proposed in other presidential races before now. the tax code issue is really, really heating up these days. even if his plan doesn't pass, we'll hear more discussion about it. he's opening up the debate even more. >> any idea of what economists are saying about the plan? >> caller: you know, at this point, lot of questions about this plan. right now the plan is really short on some details. one of the big questions is this 9% tax rate, it's low. will there enough money to fund the government? we have had these debt issues with our current tax system.

>> alison kosik, thank you so much. >>> is your blackberry working yet? if you're chained to it for work or pleasure, this could be another very long day. dan simon joining us from san francis francisco. dan, where do things stand right now? >> well, according to r.i.m., the maker of blackberry, they're based in canada. they said they had this situation under control. we'll see. this started as a core switch problem in europe and they feel like they finally got a handle on this infrastructure, but like a bad global virus, you can see how this thing spread from country to country before finally hitting the united states yesterday. i want you to listen to the ceo and founder of r.i.m. who put this statement on youtube just a little while ago. take a look. >> since launching blackberry in 1999, it's been my goal to provide reliable, real-time communications around the world. we did not deliver on that goal this week. not even close. i apologize for the service outages this week. we've let many of you down. but let me assure you that we're working around the

. >>> next here on reporter roulette, let's go to alison kosik live at the new york stock exchange. alison, first talking about markets, are they rallying? >> better than he cexpected ears from bank of america. jpmorgan, up more than 2%. bank of america reporting that they put aside more money for mortgage lawsuits. what that means is b of a probably won't have to raise more capital and that's really a bright spot in the financials because banks and analysts have been sounding the alarm bells, the warning bells about the challenges facing banks these days. brooke? >> and then, alison, what is it about mcdonalds? we are hearing that they are launching an in-store tv show? >> sure. they are launching their own set of network. the idea here is to make mcdon nad's more of an experience. you know, they've got the fancy coffee and playground. now they have mcdon nald's tv. they are rolling out this idea in hundreds of restaurants in california. there will be snippets of tv shows. mickey d knows that it has a captive audience. you're taking a page out of the book that you're seeing in the a