at the national council research conference in cambridge, massachusetts.ere at the q&a he may get pushed on tapering. ♪ >> look at today's market drivers. a lot of volatility but not a lost swings. the s&p ended higher. that is fifth day in a row for that. longest winning streak since may 8th. best performing sectors, health care and utility. >>> copper rebounded from a one week low after imports hit the highest level in nine months in china. the metal closed the day up nearly 1%, $3.09 a pound. >>> oil, can't regret this. looking at 15-month high if you're invested. after a government report showed a sharp decline in crude stockpiles to close at 106.52 per barrel. >>> it has been more than 10 years since our troops began fighting in iraq and afghanistan and every day we hear of yet another veteran who has been severely wounded. that's why this sunday team fox business is going to swim and bike and run to help the most severely disabled of these vets coming back. ashley: look at that scene. liz: there you go. they have so little hope. so what are we trying

in a speech in cambridge, massachusetts, ben bernanke said the economy is still damaged and the fed mustgthen its regulation of the financial sector and interest rate poli polici policies. bernanke's comments fueled asian markets overnight. tokyo's nikkei added half a percent while hong kong's hang seng rose more than 2%. bernanke's remarks also got a mixed reception on wall street. the dow shed nearly 9 points while the nasdaq gained nearly 6 points. new data from realtytrac shows banks began foreclosing on about 57,000 homes in june. that's the lowest level for any month in the past 7 1/2 years and a sharp drop from may and june of 2012. >>> the u.s. senate could not raise enough votes to undo the spike of the interest rate of a popular federal student loan. senators needed 60 votes to overcome a procedural hurdle but fell short. effort would have reverted interest rates on subsidized stafford student loans back to 3.4% for another year. that rate doubled on july 1st. talks will continue. >>> and google is rolling out a major update to its popular maps app for androids. the latest vers

but he did know that both in london and the group cambridge, massachusetts, in general, lawrence bragg was the head of the group therefore example. that he was in london and he knew that they had better data and better x-ray data. so he was always very compact. so he was into the. >> there is this notion of bill gates has mentioned that success is a lousy teacher. it empowers the lucky to feel that they are actually smart. but it sounds like you have seen on. >> yes, even though i would say we realized later that there was a sequence in it. tell us a little bit about how we have learned from mistakes and science and what was the biggest blunder of the blunders are identified in your book. >> it was one of the great philosophers of science that basically said you can never prove a theory correct, you can only prove it wrong. basically it is part of the possibility and is one of the hallmarks of a true scientific theory. if it is a real theory, we should be able to make predictions about other things that have not been done. and if they turn out not to agree, it means that there is somet

some sage chairman ben bernanke, investors in cambridge massachusetts with a q&a session andrew sounded the most positive if he has a long time. now right after the gate after bernanke says they will maintain its policy but also flat out noted it has begun to turn around but when ben bernanke said ttis he is really a knitting something that we all do but gave confidence to the market now back with record highs for the dow jones industrial average guess what? we bbasted through that earlier today. that discussion was up 175 points. we are well above that number right now and the nasdaq is killing it today for the sixth day in a row the nasdaq is that snowden out of 12 sessions and that hasn't happened in more than two 1/2 years. with the s&p it is on the sixth day of gains as i mentioned consumer related names so those hitting record highs, t.j. max, autosome, a target, starbucks, also carr max and delphi automotive. not bad. with the consumer names you cannot ignore gold on a day like this. it is rallying with the dollar sinking. $37 in the after market session, doesn't that look like a

criticism of his 25th year they purchased the magazine two years ago and he runs it from cambridge massachusetts. he has his ph.d. in intellectual history is and is the editor of three books of cultural criticism. born and raised in gettysburg of the mason-dixon line and just to show you how he still has geographical confusion, he claims he is very much a southerner. [laughter] >> q davis associate professor, author of the making of james agee out in 2008 and editor of a new style of the addition of "now let us praise famous men" that will be coming down next year i believe. currently he is working on in addition of agee's letters. having lived across the street in the shadow of her home, the masters at the university of alabama and a ph.d. at university of tennessee where the agee's papers are house. his course title. ♪ to sign up. southern literature in black and white. freaks. rednecks, hillbillies the in georgia crackers the south in the representation from the bottom of. [laughter] chip is a transplanted atlantic and in massachusetts studied under harry callahan at the rhode island school o

chairman ben bernanke speaking at the national bureau of economic research conference in cambridge, massachusettsosing bell. his topic, a century of u.s. central bank. earnings, look for numbers from family dollar and for the open and yum brands after the close. chevron is also reporting interim second quarter results. looking ahead to that carefully. a look at the other stories we're following today. the ntsb says the pilots of the asiana jet that crash landed in san francisco this weekend were relight on the plane's automated control equipment. investigators say the crew assumed the auto throttle was controlling the air speed, but actually hadn't been activated. and they realized too late the plane was flying too low and too slow. the asiana president arrived in san francisco from south korea on tuesday. and was mobbed by the media on his way through customs. he met and apologized to passengers and family members. >>> we have a t-bill auction result from italy after the s&p downgrade. they sold 7 billion of 12-month t-bills. the average yield 1.078%. as you might expect, higher from the .962%,

they will slow the stimulus and ben bernanke try to clear the confusion and ter barnes is in cambridge massachusetts to jointly with the latest. >> investors were waiting to get any word from ben bernanke about tapering t antative easing bond purchases of $85 billion per month to keep long-term interest rates down and of fed chairman sella's like he was interested in that later they and souders. >> an appoinent at 7.6 % if anythin overstates the help of the labor market given participation rates and ny other indicators of the underemployed and meum long term unemployment. we're not thereith maximum employment mandate. with price stability stabily, inflation is 1% that is below the 2% objective. so both sides said the mandate employment and inflatn say that we need to be more accommodating. >> but the fed chairman spoke a couple of hours after the minutes were released of the meeting back in june and it is not clear from those minutes that the chairman has the full support of the other fed members. here is one key line for the minutes'' several members had judged that th reduction of acid purses -- p

. >> homeowner in cambridge, massachusetts got the scare of her life when she stumbled upon a 4 footne monroe said the screen door to her back porch jammed yesterday morning. she looked down and found the young red-tailed boa in the way curled up near her feet. >> what if i had a heart condition. i felt like i had one today. you know, really. i almost went into cardiac arrest. >> yeah, if she had a heart condition she'd be in big trouble. the snake is an escaped pet. they are legal. if the owner doesn't come forward. it will be put up for adoption. diane, you can take it home. it can grow to 18 feet. >> i'm okay. >> coming up why j-lo is forced to apologize for her performance. >> first, a deadly accident at one of the world's most popular live shows. you're watching "world news now". ♪ ♪ >> announcer: "world news now" weather brought to you by gerber life insurance. >>> updating the m >>> updating the morning's breaking news. at least 19 firefighters have been killed battling a fast moving wildfire in central arizona. >> members of an elite group of firefighters called hot shots. ma

fed chairman ben bernanke at the national bureau of economic reserve conference live in cambridge, massachusetts. he wrapped up the question and answer portion of his speech. it's fair to say that he was a bit more market moving than some expected. >> i was going to say here's a couple of quick points from this. first the fact that he talked at all. we didn't even know if the questions put to him were going to be about what happened given what happened in the last 100 years. whether there was a clear message is another story. markets are down. he's trying to distinguish between the taper and the tighten. saying the conditions are still too weak on the economy for them to exit monetary accomodation any time soon. that of course is when we started to see markets rip and the dollar weaken. what's interesting is this is a speech that is emphasizing financial stability so the extent to which the fed might look at the housing market as overvalued might spur this conversation. this is going to be the important question for right now. markets are telling us we'll buy it and in fact we'll buy stocks well

john and "the baffler" foundation purchased the magazine to years ago, and he runs it from cambridge, massachusetts. john has a ph.d. and intellectual history from the university of rochester and is the editor of three books of cultural criticism. he was born and raised in gettysburg, pennsylvania on the mason-dixon line. just to show you how he has some geographical confusion, he claims he is very much a southerner. [laughter] >> that is relative, you know, down here. okay. hugh dever this is assisted professor at piedmont college and the hearst georgia. he's the author of "the making of james agee," from 2008 and the editor of a scholarly magazine "now let us praise famouse men" that will be coming out next week i believe. currently he's working on an addition of agee's letters. he got his bachelor's degree in jackson, which i can tell you having lived across the street from it is in the shadow of the home. his master's at the university of alabama and ph.d. at the university of tennessee, where the agee papers are housed. his course titles like a lot to sign up for his class is. southern literat

fed chairman bernanke is also speaking tomorrow after the close up in cambridge massachusetts.ee times it's coming out the market got an upset stomach. >> and the last three times bernanke has spoken after the meeting the market got an up side stomach. you want to watch for whether or not there is talk about the tapering starting earlier calendar dependent as opposed to data dependent. the trade of this though is uup. the u.s. dollar. we know the fed is most likely going to be tapering some time in the next six months. if i'm wrong about that and the world falls apart the people are rushing to the dollar anyway. the pound is going down. >> any other currencies on your radar? you want to keep going? >> if you want me to talk about currencies that's a whole other show. >> chevron is out with second quarter interim update tomorrow off the bell. we're watching crude after the bell and we'll be watching this one, too, after hearing breaking news on crude oil. >> we're long chef ron. we've been buying it all year on dips. it pays double the dividend as exxon exxon. $20 billion war ch

to -- if the president of the united states is going to speak out about a beer summit in cambridge, massachusettshe president of the united states is going to speak out about trayvon martin, i would hope that he could be as vociferous about what is going on in chicago. bring people together to try to make a determination. >> i agree. >> about how we bring a met more morephosis about in this nation. [ thunder crashes ] [ female announcer ] some people like to pretend a flood could never happen to them. and that their homeowners insurance protects them. [ thunder crashes ] it doesn't. stop pretending. only flood insurance covers floods. ♪ visit floodsmart.gov/pretend to learn your risk. >>> live from america's news headquarters i'm robert gray in los angeles. well, the world is on royal baby watch. prince william and kate middleton expecting their first baby any day now. the child will be third in line to the british throne regardless of gender and the producer of "glee" is planning a special tribute episode to honor corimont ease who died of an overdose of heroin and alcohol and will address the d

reserve chairman ben bernanke of the national bureau of economic research conference in cambridge, massachusetts. this is an hour. >> thank you. thank you. thank you, jim. particularly about the part about the bibliography. i'm still working on it. [laughter] well, i would like previous speakers, i would like to thank the national bureau of economic research for organizing this conference in recognition of the federal reserve's tenure which we don't know whether it's exactly 1930, 1940 but we know it's happening around glad to be here and have the opportunity to purchase but in this very interesting conference. in keeping with the spirit of the conference, my remarks today would be primarily startled in nature but i will leave current discussion today's question and answer period and, of course, next week i have the particular pleasure of testifying before congress. so that will be interesting. [laughter] another opportunity to discuss these matters. so today in my remarks i would like to discuss the evolution over the past 100 years of three key aspects of federal reserve policymaking. the goal

there's a group of people in the middle, probably these people in cambridge, massachusetts, who are kind of former computer hackers, many of whom are supporters and are kind of in this loose network of people who support wikileaks. so somewhere in this mix, you have manning with access to this information; you've got wikileaks and julian assange with the desire to get it; and you've got a helpful intermediary. and somewhere in between here, there's a transfer i believe takes place. >> smith: the question of how assange acquired the documents is important. was assange a passive recipient, or was he more involved? >> i think assange is savvy enough that he would have tried to avoid, at all costs, any direct contact with... with bradley manning, understanding that could later lead to a much easier prosecution on grounds of conspiracy to commit espionage. >> smith: in other words, if wikileaks actively helped someone violate secrecy laws, assange and his colleagues could be held criminally liable. >> we had one rule at the core of this whole project, and that was not to solicit anything. thi

to -- if the president of the united states is going to speak out about a beer summit in cambridge, massachusettsif the president of the united states is going to speak out about trayvon martin, i would hope that he could be as vociferous about what is going on in chicago. bring people together to try to make a determination. >> i agree. >> about how we bring a met more morephosis about in this nation. we're being torn apart.(g >> geraldo: we're going towe s chicago. (guy) i wannna catch a falcon! (girl) we should do that. (guy) i caught a falcon. (guy) you could eat a bug. let's do that. (guy) you know you're eating a bug. (girl) because of the legs. (guy vo) we got a subaru to take us new places. (girl) yeah, it's a hot spring. (guy) we should do that. (guy vo) it did. (man) how's that feel? (guy) fine. (girl) we shouldn't have done that. (guy) no. (announcer) love. it's what makes a subaru, a subaru. i took my son fishing every year. we had a great spot, not easy to find, but worth it. but with copd making it hard to breathe, i thought those days might be over. so my doctor prescribed symbicor

i remember going out to a dance and there were four of us in a car in cambridge, massachusetts. being pulled over and having an officer yell, get the expletive out of the car. really forcefully until it turned out my date had on a uniform. he was in rotc. once he saw he had on a marine uniform and this guy was retired military, the tenor changed. but initially it was four black people in a car. this has happened to i think almost every african-american. whether you're an african-american man or woman. you have the experience of seeing this happen to someone else, feeling this happen to yourself, your dad, your date, your boyfriend, your significant other or your child. and if you haven't had the experience, then you fear experience. it is the nightmare of every mother that you'll find out your son has hadencounter with police that resulted in violence. what shocked and terrified mothers like me was that we're accustomed to having this conversation about police. about law enforcement. about the story that you told with your dad. about how to comport yourself. now that kind of pol

from another obscure institution in cambridge massachusetts which you can read about in the biography. delighted to have you both here. where going to go through the g20 agenda starting with the core three pillars that we which is talked about on the last panel. we will start with a macrogrowth, global growth story and i wanted to ask david, the imf issued an update of its regular annual world economic outlook this week and you downgraded slightly the outlook of the global economy. when i looked back at the april lease i notice one thing that was different. back in april you were pretty positive about the emerging markets. you even have a headline and summary that said free accelerating activity in emerging markets and developing economies. what happened? >> let me start by saying a couple words about the g20. i think the g20 is as a group has been a very important one and it started with the washington meeting in 2008 and through the london summit in the pittsburgh summit in 2009 they really asked the question how do we -- in the midst of a financial crisis and how do we make sure it

joining me now to talk about this important case from cambridge, massachusetts, professor charles ogletreehe is a professor of law at harvard, and director of harvard's institute for race and justice. from boston, noah feldman, he also is a harvard law professor and a columnist for bloomberg view, here in new york, dan abrams, he is the chief legal affairs anchor for nightline on abc, and reports for abc news and good morning america. let me go first to dan abrams here at the table with me. you were not surprised and predicted this verdict. >> yes. as a legal matter, this wasn't a tough case. based on the fact and most importantly the law with regard to self defense. once all of the evidence was in, these jurors would have had to convict, they would have had to believe beyond a reasonable doubt that it wasn't self defense, and in the momentÑi!at george zimmerman fired that weapon, did he reasonably believe that great bodily harm or death could ensue? just what was going on in his head? not what actually happened so if those jurors had reasonable doubt about that question, then it is an acq

we're waiting for fed chair ben bernanke complete the speech up in cambridge, massachusetts, and then take you live to listen to him take questions. we'll take you live for his answers. stay with "closing bell." back in a moment. a. 2004. vietnam in 1972. [ all ] fort benning, georgia in 1999. [ male announcer ] usaa auto insurance is often handed down from generation to generation. because it offers a superior level of protection and because usaa's commitment to serve military members, veterans, and their families is without equal. begin your legacy, get an auto insurance quote. usaa. we know what it means to serve. (announcer) at scottrade, our cexactly how they want.t with scottrade's online banking, i get one view of my bank and brokerage accounts with one login... to easily move my money when i need to. plus, when i call my local scottrade office, i can talk to someone who knows how i trade. because i don't trade like everybody. i trade like me. i'm with scottrade. (announcer) scottrade. awarded five-stars from smartmoney magazine. >>> welcome back. in washington, legislators are

live in cambridge, massachusetts, peter for the fox news network, peter, everybody wants to know whats said and to read the tea leaves into what it might mean. >> that's right, martha. investors are hanging on every word out of the fed spoken and printed. we did get those minutes from the policy meeting back in june. and in those minutes, we see more indications, more comments from fed members that they want to start dialing back these bond purchases, this stimulus, which was designed to try to help keep interest rates low for auto loans and mortgages and for business loans. it's been in place this last round since september. we have a key line. we did hear from the fed in june -- at that june meeting that if the economy kept growing and job creation kept up the fed might start considering tapering these bond purchases later this year and quote several members judge a reduction in asset purchases would likely soon be warranted in light of the cum u cumulative decline in unemployment and ongoing increases in private payrolls, which had increased their confidence in the outcome for sust

tracy: in cambridge, massachusetts. thank you very much, peter.ss was it will soon be warranted. that's the big change in language. ashley: we had nearly 200,000 job growth for three months in a row. peter is pointing out, essentially half of the fed saying that maybe this year would be appropriate to start easing back or pulling back on those bond purchases. >> that's something we've been hearing, right? either by september or december they will make some sort of announcement that it's coming. ashley: the dow is up 12. shooting around. up nine. it is kind of just floundering for now obviously as everyone digests exactly what the fed was talking about behind closed doors. let's get the market reacting to these minutes. we have team coverage. nicole petallides on the floor of the new york stock exchange. jeff flock in the pits of the cme. let's get started with nicole. nicole? >> the market is reacting heavily to the fomc minutes, ashley and tracy. it is here on the big board. all major averages are now in the green. dow jones industrials posting a

first call is from cambridge, massachusetts. david on the democrat line. good morning peter. cambridge, mass., i was affected indirectly by the boston bombings. i know people that were seriously injured. so i have absolutely no empathy or sympathy what ever for tsarnaev. criminal, act of terror. i was in cambridge on that friday. it was horrible. we have freedom of the press. i did not think it is tasteful, per trip really wise editorial the magazine to put him on that the cover, but we have a robust cover of diversity of media -- media and a version of expression and speech constitutionally protected. if that is of particular slant in that way, we can protest it and not by the feeline, but i personally it is the prerogative of the .agazine host: thank you. should have they used a different picture. yor of boston put out a comment on this. august 3 cover reward's a terrorist with celebrity treatment. it is ill-conceived at best and reconfirms a terrible message that destruction gained fame as for killers and their causes. there may be valuable journalism behind the sensational

oh, i should have said he got his phd from an obscure institution in cambridge, massachusetts.ecause that is a lead-in to our other speaker, can send yaw yudaeva is the, g20 sherpa, as big responsibility as russia hosts. chief of the president's expert directorate and first office of the russian president. kseenia has been there a year and scene on the organizing the st. petersburg summit and many related aspects of a hosting year in the g20. she, prior to her government service again has a long distinguished career in international economics including as chief economist at fairbank and she also worked at the -- [inaudible] washington think tank in the moscow office of the carnegie endowment and in addition to, degrees from moscow state university and the new economics school she also again has a phd from another obscure institution in cambridge, mass, which you can read about in the biography here. delighted to have them both here. we'll go through the g20 agenda, starting with a core three pillars that were just talked about the in the last panel. we'll let's do them one by o

i should have said, he got his phd from an obscure institution in cambridge, massachusetts. that is the lead-in to our other , theer, ksenia yudaeva russian g-20 sure bob. -- g-20 sherpa. she is also head of the directorate of the executive office of the russian president. she has had that office for over year and has taken on recently the role of organizing be st. petersburg summit and the many related aspects of a hosting year in the g-20. she was, prior to her government service, had a long and distinguished career in international economics. she also works at the carnegie endowment. in addition to degrees from moscow state university and the economic school, she has a phd from another skier institution in cambridge -- obscure in masstion in cambridge, which you can read about in the biography. we will start with the macro, global growth story. i wanted to ask david. you just, the imf just issued an update of its regular annual world economic outlook this week. you downgraded slightly the outlook for the global economy. when i look back at the april release, i noticed one

we're going live to cambridge, massachusetts, where federal reserve chairman ben bernanke will speak to a group of national economic research about the history of the federal reserve, which was founded 100 years ago. chairman bernanke expected to speak shortly, first some introductory remarks. >> chairman bernanke, of course, needs no introduction but to the nber coud that have gathered here, i thought i would just mention ben's historical role in the nber and the many connection he is has to the nber summer institute and the monitor economics program which host this is meeting today. ben is of course a past director of monitor economics program, also a member of the nber debating committee a past editor of the annual bombing -- is he annual research and the author of many working papers, including many of the most cited working painers in that time period. i was astonished when i looked at google scholar to discover there are five of ben's co-awe -- d or single author -authored or single authored working papers have 2,000 citations. those of you who follow google scholar know that t

i should have said, he got his phd from an obscure institution in cambridge, massachusetts. that is the lead-in to our other speaker, ksenia yudaeva, the russian g-20 g-20 sherpa. she is also head of the directorate of the executive office of the russian president. she has had that office for over year and has taken on recently the role of organizing be st. petersburg summit and the many related aspects of a hosting year in the g-20. she was, prior to her government service, had a long and distinguished career in international economics. she also works at the carnegie endowment. in addition to degrees from moscow state university and the economic school, she has a phd from another obscure institution in cambridge, mass which you can read about in the biography. we will start with the macro, global growth story. i wanted to ask david. you just, the imf just issued an update of its regular annual world economic outlook this week. you downgraded slightly the outlook for the global economy. when i look back at the april release, i noticed one thing that really stood out. back in

this needs to be done in a systemic way, so that the boston police, the cambridge police, the massachusetts state police can say these 100 cases the fbi is done with. do we care about them and what should be do about them? and then they also have to make the decision, is this okay? is this permissible under our local police authority that the fbi doesn't have? that requires real oversight in massachusetts, in washington, to make sure that's not being done in an inappropriate manner. >> thank you. i think we picked up a lot of information. after we created dhs, after the unfortunate incident of 9/11, congress also tried to legislate the culture of organizations by saying, you must share information. we told the cia you must start talking a little more to the fbi, and so we did it. but along the way, we ran up on something called need to know. from an intelligence standpoint, and some of us say, well, what do you mean by need to know? well, we decide whether we need to share it with the next organization. mayor, have you seen a lessening of that are or we still caught in the culture of tellin

cambridge. lucey into that in a safe house and then eventually further out in massachusetts in the western part of the state and henry of course had joined the army. now as i say he had all these wonderful books in his book store on gunnery and fortifications and he didn't have them with him but being an ingenious fellow with almost a photographic memory he cleverly created new fortifications on armory and gunnery and so on at bunker hill and roxbury. now washington became quite impressed with this and he wrote a love letter from henry bragging about how washington and the other generals were impressed. and at age 26 he appoints henry a colonel in the army. henry eventually goes on to become the major general, washington's chief of artillery and a close friend. of course he's invited to dinner in cambridge at the house and eventually lucey who was quite pregnant by now is also invited to meet the newly arrived martha washington and they become lifelong friends. here is a much later picture of henry and i think it is rather flattering. this is 1803. it's rather flattering i think. okay, it's pro