ashley morrison here in new york, ashley, thank you.ppreciate it. >>> coming up, the hunt for the masked man who put a fake bomb around a young girl's neck. >>> plus the man in the cage. a moment millions of egyptians thought they'd never see. >>> first, scott pelley has a preview of tonight's "cbs evening news." >> the country is in the grip of a massive heat wave and as temperatures rise, electricity costs are also soaring. now the government is pulling the plug on help for many people who can't afford to pay, leaving tens of thousands to worry about how they'll stay cool. that story tonight on the "cbs evening news." i've got breakfast waiting for you. whoo! uh-oh. what? mom's doing her exercise video again. when mom's on a health kick, all of us are. and now she's made us breakfast. uh-oh. ♪ [ male announcer ] eggo nutri-grain waffles. you know it's made with 8 grams of whole grain and is a good source of fiber. all they know is it tastes great. eggo nutri-grain waffles. simply delicious. a network of possibilities. in here, the pla

. >> ashley morrison in new york thank you so much. >>> in the caribbean tropical storm emily is getting stronger. the storm now headed toward the dominican republic and haiti. forecasters say they should get hit by heavy rain and 45-mile-per-hour winds by midday. emily is expected to continue toward the bahamas. it may bring rain to miami by friday afternoon and wilmington, north carolina, by sunday evening. >>> a homeless man is in custody this morning after jumping the fence at the white house yesterday. he was captured and apparently

ashley morrison is here in new york with that and more. good morning, ashley. >> and good morning to you, randall. overseas markets shot up this morning. japan's nikkei snapped a three-day losing streak closing up more than 1% and hong kong's hang seng did even better, gaining more than 2.5%. other markets saw significant gains with bank stocks leading the way, that follows wall street's big day where stocks saw their biggest rally in more than two years. a wild ride on wall street, after a 600-point swing the dow finished up nearly 430 points. >> crazy. crazy day. >> reporter: stocks dipped after the federal reserve suggested the economy will remain weak for two more years but got a boost after the fed said it expects to keep interest rates near zero through mid 2013 and indicated the possibility of more bond purchases. bargain hunters moved in and the dow recovered two-thirds of what it lost in monday's 634 point freefall. >> the bulls and the bears are in a battle not quite to the death but they are in quite a battle. >> reporter: the bi

ashley morrison here in new york with that and more. ashley, good morning to you. >> good morning to you, terrell. traders and investors alike are on edge with wall street's opening bell centering a little later on this morning. this will be the street's first chance to react to the downgrade. last week stocks got crushed losing nearly $1 trillion in value. the dow dropped almost 6% while the nasdaq lost more than 8%. it is important to note that only one of the three major ratings agencies, standard & poor's, downgraded america's credit. moody's and fitch have not indicated they are ready to do so, at least not yet. s&p has taken a lot of heat for their action but on sunday the head of the ratings committee said if the u.s. doesn't clean up its fiscal act soon, it could be downgraded america's credit rating again as soon as within six months. >> if the fiscal position of the united states deteriorates further or if the political gridlock becomes more entrenched, that could lead to a downgrade. the outlook indicates at least a one in thr

here's ashley morrison on "cbs moneywatch," good morning to you. >> good morning, terrell. stocks in asia fell sharply this morning despite word of the debt deal. japan's nikkei and hong kong's hang seng lost more than 2% and european stocks fell sharply at the open. >>> on wall street the market is on its longest losing streak in two and a half years as more evidence of a stalled agency added to worries about the debt deal. the dow sank 266 points yesterday to close below 12,000 while the nasdaq lost 75. >>> the new law raising america's debt ceiling was needed to avoid default and preserve america's aaa credit rating. it seems to have worked. the moody's rating service says it will leave that aaa rating in place but with a negative outlook to show there's still a risk of a downgrade. >>> meanwhile the head of china's central bank has warned washington to get its economic house in order. china is the largest foreign owner of u.s. debt with more than $1.1 trillion in treasury bonds. so the chinese government welcomed the debt deal and wants washington to avoid further steps

a big recall of the best-selling vehicle in america, ashley morrison here in new york with that and more. good morning to you. >> good morning to you, terrell. it was a down day for the asian markets. japan's nikkei lost a little over 1%, while hong kong's hang seng was also lower. on wall street yesterday, a disappointing report on u.s. manufacturing sent u.s. stocks lower. the dow finished down almost 11 points. its seventh consecutive decline. while the nasdaq was down almost 12. >>> ford motor company is recalling 1.1 million pickup trucks. the models include certain f-150 and f-250 and lincoln blackwoods. manufactured from 1997 through 2004. metal straps holding fuel tanks to the trucks can rust and break, causing the tanks to fall to the ground and rupture. eight fires and some injuries have been reported. >>> well, part of the new debt deal involves student loans. it would scrap a special kind of federal loan for graduate students. those loans do not charge interest until six months after the student gets his or her degree. the changes will take place july 1st of next year. >>> a

ashley morrison is in new york. ashley, we know the numbers are better than expected but is it good enough to ease the investors' fears today, do you think? >> reporter: well, it looks like right now they are feeling a little bit better about the economy as the dow futures have already been up 140 points at this time. coming off the news that we got better-than-expected news as hiring edge up slightly in july and that the unemployment rate fell from 9.2% to 9.1%. that's great news after yesterday's worst plunge on wall street in nearly three years. the dow erased all its yearly gains yesterday down 513 points. it's biggest drop in 2.5 years. nasdaq down 136. the labor department says that 117,000 jobs were added last month. analysts say the unemployment rate fell partly because some unemployed workers stopped looking for work which means the government no longer counts them as unemployed so very misleading with the unemployment rate dropping but the news is better than expected as economists were forecasting that em

in new york, i'm ashley morrison. >>> so are you feeling lucky?> i know you are. >> i don't know about that. but there is a new way if you want to fly down to las vegas. this morning spirit airs launches nonstop service between oakland and sin city. the airline will have two nonstop flights a day so to lure in new customers it's offering $9 one-way tickets through september 6. there is a catch though. you have to sign up for spirit's fare club. that membership fee is about $60. i have been looking at fare prices. that's a good deal. >> i know. can't beat that. we were talking about vegas the other day. i always love going to mccarron airport. as you deplane the people going to vegas are happy. then you see the people coming down it catch their flights home. oh, my god, you know? >> their wallets are a lot lighter. >> they are tired. they haven't slept in a week. >>> 5:50 now. bombshell accusations against the university of miami. why its football program could be in jeopardy. >> maybe the death penalty. we shall see. >>> it was a joke that went to

. >> ashley morrison from cbs money watch joins us from new york. ashley. >> we know the world markets took a beating. does it matter that treasury secretary geitner came out saying the s&p did this prematurely? >> certainly having an effect. and he came out to say that it is important to note that it is only one of three major credit agencies that have come out and done anything about that. and they've actually -- it is only standard and poor's, and the other two, moody's and fitch and have not indicated they are ready to do so. at least not yet. the s&p have take an lot of heat for their action. the head of the ratings agency says if the u.s. does not clean up its fiscal act soon it could be downgrading america's credit rating again as soon as within six months and then we have treasury secretary timothy geitner immediately attacking the s&p for the decision and he acknowledged that partisan bickering in washington did not help but says the rating agency had no solid basis for its downgrade, and before the u.s. downgrade this weekend, you will rem

ashley morrison is here in new york with the latest on that. good morning, ashley. >> good morning to you. asian stocks were lower this morning. tokyo's nikkei lost more than 1.25%, while hong kong's hang seng also lost more than 1%. >>> on wall street yesterday stocks closed mixed. the dow was up 4 points while the nasdaq finished down 12. >>> it's reported that the justice department is investigating whether standard & poor's improperly rated dozens of mortgage-backed securities. the "new york times" reports s&p analysts wanted to award lower ratings on bond mortgages but were overruled by business managers. all of this allegedly happened before the financial crisis. the higher ratings made the mortgage securities appear less risky and consequently more valuable and that led to record profits for s&p. >>> an attorney at the securities and exchange commission charges the agency destroyed important documents related to thousands of preliminary investigations. an agency spokesperson says not every document the agency makes is obtained but it feel

ashley morrison is here in new york with the latest. good morning, ashley. what's happening overseas? >> good morning to you, randall. asian markets stabilized somewhat after what began as a very scary day. most markets tanked as soon as they opened. japan's nikkei fell as much as 5% before closing down around 2% while hong kong's hang seng dropped 7% before rebounding to close down just 3%. other markets saw losses in the 10% neighborhood before scaling them back. european markets are opening in much the same way. germany's dax and london's ftse are both looking to rebound from losses suffered on monday. while the u.s. economy is a major concern they're also worried about the debt crisis, in particular. the building problems in italy and spain. the european central bank stepped in on monday to try to help both those nations. >>> and wall street could be in for a better day than many had anticipated. dow futures are now trading up significantly higher than they did yesterday. monday was the u.s. market's first chance to react to what credit -- that credit do

ashley morrison is here in new york with that and so much more. morning, ashley. >> and good morning to you, betty. well, that's right, asian stocks were mixed this morning. japan's nikkei was up 0.2% while hong kong's hang seng lost 0.4%. yesterday, wall street enjoyed another triple-digit rally. the dow was up 214 points while the nasdaq gained 47. stocks have now erased all of their losses since standard & poor's cut the u.s. credit rating on august 5th. >>> late payments on credit cards have hit their lowest level in 17 years. the credit card reporting agency transunion says the national credit card delinquency rate fell to 0.6% in the second quarter. the average amount of debt carried last quarter was just under $4,700. that's a $20 increase from the first quarter. >>> it's reported google's bid to buy wireless phonemaker motorola could face some antitrust questions. google is already under investigation by regulators in the u.s., and in europe. legal experts say government agencies will want to review how google's largest-ever takeover will

ashley morrison is in new york with the latest on that. good morning to you. >> good morning betty to you. a mixed day for asian stocks. japan's nikkei lost 0.6% and hong kong's hang seng was slightly higher. on wall street the three-day rally ended yesterday. worries about europe's economic and debt problems sent stocks lower, the dow finishes down 77 points and the nasdaq down 32. >>> the leaders of france and germany are calling for greater economic discipline by european nations, but chancellor angela merkel and president nicolas sarkozy said it's not the right time to replace the 17 government bonds with a single euro bond, such bond would have allowed struggling economies like greece to borrow in cooperation with the stronger economies of germany and france. >>> four of the five largest u.s. tobacco companies are suing the federal government over the new graphic cigarette warning labels. the labels show the sewn-up corpse of a smoker and a picture of diseased lungs. the companies say the warning labels violate their free speech right

ashley morrison is here good morning to you. >> good morning to you terrell. that's right. stocks in asia jumped on news of the debt deal here in u.s. japan's nikkei up 1.3, hong kong's hang seng rose 1.4%. >>> this morning u.s. stocks look to open up strongly, dow future up 1.5%. last week wall street's worst week in a year, five straight days for the week, the dow was down 537 points while the nasdaq lost 102. >>> even if congress goes along with the deal to avoid a u.s. default there is still a chance at least one credit agency will lower america's credit rating. with their aaa rating, treasury bonds have long been the world's most trusted investment but standard & poor's warned of a possible downgrade and could make a decision this week. the proposed budget agreement will likely mean wide ranging cuts in aid to states affecting everything from the head start school readiness program to meals on wheels and worker training initiatives along with funding for transit agencies and education grants. >>> british banking company hsbc is reportedly cutting 10,000 jobs in order t