now, amex has a special agreement with retailers.y -- consumers can see their costs on a bow out. if democrats don't go out and in this case, the court was very clear in saying that debit cards cannot be a part of this. so i think that the people using amex cards may not see this become so that may be one way and it. >> the challenges that they are a very exclusive credit card issuer. they do not have a sub prime product. you have to have really good credit. what they are charged, they all charge annual fees because they don't allow you to recall that there is no interest income. gerri: al-anon revolving. of not revolving. is the only thing that keeps me of trouble. to you. i'm wondering about the impact on credit cards. he talked about how you like credit cards to build credit. does this mean some of the benefits that they then use for other things, our people not going to participate? >> the 2009, a lot of individuals but the rewards would go away. on both sides with a credit card company is obviously still trying to make money, bu

we need genuine competition. >> amex is not a part of this settlement.ts own deal that seems to work out just fine because there are a lot of retailers, smaller ones in particular won't even accept an american express card. most of those customers know that and use other payment options. >> that's right. look, there are a lot of props with this credit card proposal. among them is that there are so many hurdles that as a practical matter it is unworkable. that is number one. number two, all it does is institutionalizes the high swipe fees that the card companies are charging now and says to retailers, you should double down with your customers on this fee. that is ridiculous. we're trying to lower prices because that is how we compete. we have no interest in this surcharge approach. lori: look, mr. duncan, with the tougher economic challenges high unemployment out there, nobody is going to disagree inflation is a problem, you know, just at the food and energy levels. we're seeing prices go up. and it's disappointing nonetheless. these are the tiles. there

>> spending on amex, one of the reasons stocks are moving up in the after hours. take a look at the major sectors. s&p, heard from maria, five-year high, but there's more there. russell 2000, another historic high and mid-cap, historic high. take a look at the banks, ugly day yesterday. much better today. wells fargo kicks off earnings for the banks tomorrow. a three-month high. heavy volume today. bank of america good. citigroup, jpmorgan chase, right near a 52-week high as well. techs, kind of an anchor throughout the day, big bowl, terrible move at the open. apple finally went down into positive territory. seagate great but ended to the downsaid. aeropostale lower guidance. that's been a mess all year. american eagle afirmed the guidance but this stock is still to the downsize. ascena, the old dress barn, to the down side and finally, maria, chinese export numbers, much stronger than expected. we saw a lot of activity in the china etf. there's the fxi that's right near a new 52-week high. back to you. >> thanks so much. as part of the debt ceiling debate the tr

i was looking at the amex numbers now. would i say relative to this print, and you've got to back out a lot of extraordinary items, these numbers on the revenue side look roughly in line with what we were expecting, earnings side slightly better. >> looking specifically at amex. brian, why don't you weigh in here in terms of the broader market. what is lifting this market other than the fed? >> i think you've got some good earnings numbers coming out, and i think that it bodes well for us going well further, you know, higher from here. i think that this is a great opportunity. if people haven't been fully invested, now is a great time to step back into the equity markets. i think you put the risk-on trade here, and i think that we go higher for the rest of the year >> you know, maria, you've got to be very careful. if you're going to put risk-on in an environment where the market is at five-year highs, where fundamentals are great and not okay and where the federal reserve is absolutely not guaranteeing federal reserve act

amex, 1.09 a share, three cents better than estimates. tom, the shares were trading slightly lower on the news, down about 1%, to around $60. but it was a surprise to get the earnings on the early side. >> tom: a full week early. and it announced a record amount of money paid out to card holders in rewards. the card spending continues, and the company has to respond with those rewards. we'll take a look at a.x. p., but let's get started with " o our "market focus." and stocksur higher overall. ay dh toit p w today with more pitwsivne e onon the u.s. job market, and datomfrderaraa t china. the s&p 500 was in the green for te eomirntsession, endinirup 0.8%, just shy of a five year high. trading volume picked up to 726 million shares on the big board. over 1.7 billion shares on thend nasdaq. all 10 of the major stock sectors were stronger. the financial sector led the gains, up 1.4%. energy was up 1%. and the telecommunications sector gained 0.8%. after the closing bell, the focus remains on finance. american express released its fourth quar

amex says most of the cuts will be in its travel services, which has been hammered by corporate cutbacks and clients booking online. >>> boeing 787 was supposed to be the next big thing in travel. but reports say federal officials say they're going to review the crime liner's power system. a three-foot crack was found in the cockpit window of a dreamliner an hour after takeof. the faa will hold a news conference following recent 787 incidents. united airlines, which operates six dreamliners, says it has no plans to ground the plane. >>> and news for anyone hoping to save a few bucks on an iphone. apple is knocking down reports it's planning a cheaper version of an iphone. an apple executive is quoted as saying, the company will not sell a less expensive version just for the sake of growing market share. walmart's big sale of iphone 5s for $157 ends tomorrow, replaced by a walmart-only no-contract version. >> that's a great price. i get it. all right. >>> when we come back, a wake-up call about ambien. new warnings about too many people taking too much of the popular sleep drug. >>> and v

so, i'm curious, you amex that this would be working on the curriculum. * mention it's not going to increase per se the load or the number of students the program can take. does it include step ends for the classes or internships? * stipends how will it enhance the existing program? >> sure. the existing program is to train 400 people over the three years of that grant. this grant will add a project-based learning kohl point at city college. so 125 students will go through that. and an additional i think 100 at san francisco state. so, there is some limited funding within the city college subcontract that will be going towards stipends, but they are just the professors would be developing project-based learning with the hopes the companies would provide the internship stipend. >> i see. project based learning and direct internships with some of the companies either with this grant or the tech companies would actually provide, okay. >> yeah. >> and when you said 100 sf students, these are currently enrolled sf state students that will also be filtered into the program as well? >> yes, partici

first, pay with amex. or pay with cash or a debit card.ers do change their payment method, this could be a boon for banks. analysts at goldman sachs say depending where the surchargesia long-term boost. investors that i spoke to a tribute the weakness to bigger questions about strategy and growth now that consumer credit is improving. back over to you guys. >> kayla, just clarify, what is the position with amex? traditionally, it's charged the highest commissions to retailers. you'll find it quite hard to use amex in some countries. >> it has a strict contract with the retailers that actually provide the card. in that contract it actually forbids them from introducing a new fee on top of what they are already negotiating to use there, simon. >> wow. kayla, for the moment, thank you very much. let's find out how consumers are reacting to these new checkout fees. cnbc's courtney reagan is here live. i assume you're not in new york, because it's not applicable there. >> that's exactly right, simon. we are actually in downtown englewood, new j

. >> job losses at amex last week. >> gold man from neutral to bye.have some upside in axp shares. but they said listen. history said axp needs growth. but multiple expansion. which views as unlikely for axp? >> and capitol 1. >> yeah, same call, same analyst. upgrading capital and they see $14 in upside. finally acquisition cost starting to reside. goldman likes capital one. >> we have best buy competitor, hh greg. >> yeah. hh greg is indianapolis based, major retailers. stock is down 7%. terrible same-store sales numbers. estimated to have dropped 10%. analyst looking for just under half that. video sales down 25%. you have appliance and cell phone up pu by, way light at hh greg. >> the irony here is best buy talks about the show rooming aspect. amazon today is at new highs. there you go. >> okay. research in motion is one we're watching. apple is moving down. it is topsy-turvey day today. >> yeah. everyone told me they have sold their aphone. there is some optimism about the blackberry 10 launch. there is also a lot of shorts in this name as well.

first assigned a hospital ship where a couple men stayed on and slept in hammocks, we fell lot of the amex every night, things like that. they had a hard time accepting us. i was assigned to the admiral's barge. in all weathers, we plowed plymouth harbor and the ships were coming in and we were doing all the work between all the ships and all the motor torpedo boats going and we had two or three submarines always tied up there and so that was particularly what we were doing. the blitzkrieg was over but there were a lot of rage and when they were coming back from the raids on the others and like coventry and things they fashioned they would drop their bombs on the way home rather than take them home so we had constant air raids every night and when you went to bed, we have a curfew, you would have to put your valuables on the end of the bed at night, your warm coat sleeve could get up every night and go because the moment the sirens went off, you had to go to the roof to look for the incendiary bombs and in the daytime we would go to the dock and i would arrive in one of those double decker

amex of clouds for saturday and sunday. not much change starting to work week.sday night in to wednesday morning a chance for showers on the way. you will be to keep your umbrella handy. >> your afternoon highs struggle to make about the fifties. >> more on your extended forecast. >> taking a look at traffic. a hot spot and a sig alert. >> not much going on until we start to a zoom in northbound 101 at the lawrence expressway three lines are currently blocked due to what was originally reported as an overturned big rig. >> it is as we not overturned there is damage to the big rig. there could be down power lines in the area. >> the guard rail may have been impacted. caltran is headed to the scene. as of now we are not seeing any backups or delays. >> this could prove to wreak havoc on your morning commute. no need to use an alternate just get. >> we will continue to monitor this and have more information coming up in my next report. >> no problems to alert you to on the approach to the bay bridge toll plaza looking fine. >> dr. paul harmon mention if you look in

was the amex close by involved -- annex close by involved in obtaining weapons and were any transported to other countries? and the countries, turkey included? -- any other countries, turkey included? >> you would have to direct that question to the agency that ran the amex. >> you are saying you do not know. >> i do not know. i do not have information on that. with respect to personnel, that is why we have independent people who review the situation as we did, and all four individuals identified have been removed from their jobs. they have been placed on administrative leave while we step through the personnel process to determine the next step. both ambassadors and admiral have highlighted why this is complicated because under federal statute and regulations, unsatisfactory is not grounds for relief of duty. -- breach of duty. these individuals did not reach their duty. -- breach their duty, according to arb. i have submitted legislation to this committee, to the congress, to fix this problem so -- >> here is the problem. the review board has all these recommendations. there is one th

was the amex close by involved in obtaining weapons and were any transported to other countries? and the countries, turkey included? >> you would have to direct that question to the agency that ran the amex. >> you are saying you do not know. >> i do not know. i do not have information on that. with respect to personnel, that is why we have independent people who review the situation as we did, and all four individuals identified have been removed from their jobs. they have been placed on administrative leave while we step through the personnel process to determine the next step. both ambassadors and admiral have highlighted why this is complicated because under regulations, unsatisfactory is not grounds for relief of duty. these individuals did not reach their duty. i have submitted legislation to this committee, to the congress, to fix this problem so -- >> here is the problem. the review board has all these recommendations. there is one thing they failed to address and you failed to address that sets us up for another tragedy like this. they should never have been sent in ther

i can't go into those today because i'm not in on them yet, i'm not briefed amex ackley on what those contingencies are. i just know that they are making them and they are deeply concerned about it. >> should we feel some confidence that russia and china might join in to an international effort on chemical weapons should there be concerns about what happened to those weapons? >> i can't tell you whether or not -- again, i just don't know about the details of the plan. i do know they have expressed public concerns about that, and i do know there were conversations with the russians when the first indicators to place about the potential movement and the the russians apparently were deeply concerned and may also have weighed in on that time so i think there's a serious concern everywhere that those weapons not fall into the wrong hands. >> thank you. senator cardin mentioned the good work that you deutsch as the chair of the small business committee, something that's very important as we think about the economy of the united states coming and as you point out, the other developing countr

we're only going to pay amex 200 of the $500. this is the problem.f we do ruin our credit rating over this, borrowing costs for the government could get higher, that increases the deficit, and borrowing costs for individuals could get higher. and the market could tank. >> gloria borger, i want to talk about the conversation ali was discussing and the president's tone. i heard you earlier saying it is the preoutrage, right, coming from the president. already today here, gloria, it is harsh. and we heard him say republicans quote/unquote, will not collect a ransom for not crashing, president's word, not crashing the economy. and here he is saying, sure, he will negotiate debt and deficit cuts but only after congress agrees to raise the debt ceiling. take a listen. >> i'm happy to have that conversation. what i will not do is to have that negotiation with a gun at the head of the american people. >> i know we're already getting reaction from some of the republican leaders including house speaker john boehner, not pleased with some of the language. what

the plan was supposedly drafted to move the operations to this the guy amex about a mile away from the compound. this cable was presented to have been shared by senior staff sent to your office consent to the nfc and even on september 11th ambassador stevens was killed, he personally to become personally warned growing frustration with security forces in the libyan police. were you aware? >> that didn't come to my attention. i have made it very clear that the security cables did not come to my attention or above the assistant secretary level where the arb place responsibility where and dahuk sadr pickering said the rubber hits the road. >> where were you at this table. >> after it began to gather information and material, which of course -- >> who was in your office and did see this case? >> i'm not aware of anyone within my office in the secretary's office, just having seen the table. >> in the national security council? >> i have no awareness of anyone in the security council having seen that cable. >> was this a surprise to you? >> congressman, it was very disappointing to me that t

best performing dow components in the four years leading up to this rally, amex, home depot, cat, disneyn the red. mainly because of apple, which is down by about 10% at this hour. sima modi has more. >> no surprise the nasdaq is vastly underperforming the major indices thanks to am. shares down about 10% at the moment. market technician telling me the next support level is 425, something to watch. when apple sneezes, the nasdaq catches a cold and so do some of its component suppliers. here is a couple to take note of. sirius logic down 10%, specializes in analog chips. skyworks solutions works on wireless radio component nuance communications, which is said to be behind the mobile app siri and avago behind the iphone 5 and the ipad 3. and lastly, omnivision, a leader in the digital camera center space is said to be used in the iphone face time app. a couple the chip stocks under pressure today, look at broadcom and qualcomm, said to be behind the iphone 5. back to you. >> that is the center of the storm today, thanks very much, sima. >>> one tech company flying higher. now to the market