markets market watchers say that it's choppy a volatile after last week's american downgrade and the e.c.b. intervention. the situation is clearing nothing short of a panic we have seen somewhat panicky moods in the market last weekend luckily we had forty eight hours today just the s. and p. downgrade over the weekend we seem quite knowledgeable a session this morning expect to be the market open quite sharply down that recuperated right side of the losses and clearly closing still lower and especially this is a bull cross the blue chip universe which is the easiest to get rid of and we have so we have what we observe at the moment in terms of trying to seriously is really seen a hedge fund strange appeared in the blue chip names and along with these situations trying to pick up some value plays in the second tier universe. it's moved through the markets now and look at the year numbers that we've got at the moment so yes you can see there are obvious down some point four percent my sex life point three percent there was some positive comps rate of intervention from the e.c.b. howev

start to tell you that we're going through is an interesting or garden bonilla kind of period of choppiness after a recession and into a recovery but there's something very different happening here in potentially quite dangerous well how dangerous do you think that it might be my guest last night for example told us that this is going to be a sequel of two thousand and eight except for it's just going to be that much worse right that this house of cards that was propped up i guess you could say by bailouts from the fed the first time around now it's finally going to start going down. well i think people have to sort of understand what's really fundamentally happening here and that's that we sort of had this two three decade credit boom that all of you had a big build up in debt and then the other side of that you had a lot of increases in asset prices so we had first it was the stock market you know a lot of tech stocks then it was the housing market and now there are other places that look a potentially a little bit overheated but really what's happened is an increase in debt levels across

out it's going to take forever until they do so and in the meantime there's going to be a lot of choppiness and that will reverberate back here in the u.s. and again we may start to do it ourselves at some point as well now of course you know i just spoke about obviously a lot of this is an emotional reaction that people are having right now you can tell there's some panic and. often over right people have to decide what to do with this moment so we see people going to gold we see them going to treasuries they're trying to get out of the market when it comes to other things but i want to show you a clip from c n b c where simon hobbs and. jim cramer thank you was like you know the neighbors like you know where they decided to go after each other about some of the advice that's being put out there take a look. by my question to which you can't be is constant issue quite prosaic you know i don't care sturgis you can get your money there you kill people to buy bear stearns that's a very different argument from me saying we're not about whether you're in six hours we're still in still a pair ok

if you could pan off, the water has been fairly choppy in the inner harbor.ks are coming out to be in and about. in fact the baltimore orioles are planning to play this afternoon, 1:35 against the yankees. they'll do a doubleheader to make up the game they laos yesterday, but i wonder how many folks will want to come out. overall we have about half a million. that's about what they estimated. now the quell is -- as far as -- they're likely to make an assessment around noon or so. we did see some not much to speaking of, one tree down, so it looks as though baltimore has been pretty lucky. >> thank you for that wrap-up. thank you. >>> as we wrap up this hour, we want to leave you with a few stuns images that are representative of this historic storm. you're looking at the delaware river now before and after the storm. compare that for yourselves. also. >>> also a demolished house in massachusetts. look at that, and absolutely taking that off its foundation. >>> and there she is, irene from space. these pictures coming to us from our friends at nasa. thanks for

. >> the flight was very choppy but it was fine. >> reporter: 31 flights were canceled monday at sfo.ra cerball kron 4 news. >>> tonight irene is being blamed for 40 deaths. people have been killed in flooding, collapsed building, falling tree branches. this is what was left behind in north carolina. irene's damage is $7 billion to $20 billion. as kron 4's catherine heenan tells us, it could be weeks before we get reliable numbers. >> reporter: we are not just talking about rebuilding homes and businesses but lost tourisms, fixing streets and bridges. hurricane irene slammed into a region that is vital to the economy's health. new england account for 16% of the nation's economic output and 14% of its work force. damage in new york and new jersey might be the most expensive. because property values are so high there. new york's governor took a helicopter tour, he knows it's too early to gauge how expensive it will be. >> devastating in some areas and will get worse before it gets better. >> reporter: when the early estimates between 7-$20 billion, some are already estimating hurricane

>> over the near term i expect trading to remain fairly choppy when we're seeing these bouncs.s if we start to see the economic factors kick back in again, the negative economic factors, it's unfortunately back down again and we could see another wave of selling coming into the markets. >> all right, manoj, thanks so much for joining us. >>> britain ice prime minister at this hour is chairing his second emergency meeting in two days. tuesday was a quiet night in london, violence ripped through other british cities. in a moment we'll look how rioting is impacting the british economy and british business. stay with us. [ female announcer ] what if your natural beauty could be flawless too? discover aveeno positively radiant tinted moisturizers with scientifically proven soy complex and natural minerals. give you sheer coverage instantly, then go on to even skin tone in four weeks. aveeno tinted moisturizers. >>> from cnn hong kong and london. welcome back. you're watching "world business today." >> a tense but hopeful calm hangs over london the morning after 16,000 police managed to kee

a large crowd watched as surfers battled choppy water to catch the perfect wave. the event lasts all week and is expected to bring out world class competitors who will be vying for the grand prize. >>> finally to new jersey, over 100 balloons there of vibrant colors and special designs soared over the weekend. oh. thousands were captivated at the annual festival of ballooning. the event is billed as the largest hot air balloon event in north america. now here is a look at the weather with bill karins. you've been up in one of those. >> i did. >> i looks kind of scary. >> very peaceful. >> but when your basket tips like that. >> when you land. there's no wheels. you literally hit, then tip over. >> and you're stuck under the balloon. >> it's a fun process. good pilots will get you through. >> all right. >> let's talk about what happened this weekend. around the country, the forecast hasn't changed. the same old story with the heat. we got done with record heat. the month of july is going down in the record books as one of the hottest ever for areas like baltimore,

choppy waves? >> reporter: you know what? it was actually a little more still before. the wind has picked up now that the brunt of this storm has passed us. it is becoming more choppy. but again, the current is moving north, which is odd to see. we're used to seeing the current move south, so the storm has passed us by and the wind is now pushing this way. for the most part the waters have calmed a bit. >> goaters out in the water, though, right? >> reporter: at this point, you're better off just waiting to hear how things go. the people that own the boats behind me aren't allowed back onto the boats. they were allowed to shore them up before the storm. once the storm passes and they get the okay, they'll be able to go back on. but during the storm nobody was allowed out here. it's been rely fifl quiet until the last 15 minutes or so. >> nbc's jenna wolf, thank you so much for that. >>> we're going to go from jenna now to nbc's amy robach, in battery park, where things look a little drier. i will never forget that picture of you wading through that need-deep water on t

after a choppy week for europe stocks for years own countries have resorted to buying the a short selling of shares in banks and other financial companies in attempt to calm the markets after the fifteen day proclamation was announced by france italy spain and belgium market volatility seems to ease helping the day's trading close in more positive territory and a short selling is where investors sell boring stocks that are expected to fall in value before buying them by at the cheaper price and keeping the difference has been blamed for that with an increase in market fever meanwhile struggling italy has approved forty five million euro's and courage to balance the budget in the next two years meanwhile france was battling speculation it was going to lose its aaa school that was finally confirmed by a ratings giant on wednesday but as john hagen from the european school management of. when the technology says the governments once again offer protection to the banks instead of the tress and the underlying. part of these rescue managed measures have been taken to to rescue the banking syste

that's still to come but first after choppy week for europe's stocks for euro zone countries have resorted to methods unseen since the two thousand and eight crisis to try and calm markets france italy spain and belgium of decided to ban short selling on the shares of banks and other financial companies the practice sees investors selling stocks that they expect a drop in price before buying them back and keeping the difference short selling is being blamed for increasing recent market volatility meanwhile struggling italy's approve forty five billion euros in cuts to balance the budget in the next two years while france has been battling speculation it was going to lose its aaa school which is finally reaffirmed by ratings johnson wednesday investors however remain unconvinced the country's finances are solid enough young haagen from the european school of management and technology says it's the banks that are once again being offered protection. part of these rescue managed measures have been taken to to rescue the banking system. especially with the banks and southern europe and i think

none fine and still in the news on the other side of that line take a short choppy week for europe stocks for euro zone countries have resorted to binding the short selling of shares in banks and other financial companies in an attempt to calm the markets after that the day prohibition was announced by france italy spain and belgium market volatility seems to ease helping today's trading close in more positive territory and short selling is where when investors sell board stocks that are expected to fall in value before buying them back at a cheaper price and keeping the difference they are being blamed for the recent increases in market fever meanwhile struggling a chilly has approved forty five million euros and comes to balance the budget in the next two years while france was backing speculation it was going to lose its aaa school that was finally confirmed by ratings giants on wednesday but as john hagen from the european school of management and technology says the governments once again offer protection to the banks instead of addressing the underlying debt problem. part of these r

florida will avoid getting hit but the storm's outer bands did make for some very choppy surf. >>> governors in knock knock, virginia, maryland, delaware, new jersey, new york as well as connecticut have declared states of new jersey. hurricane watches and warnings are posted this morning from north carolina to new jersey. if irene continues on track, it would be the strongest hurricane to hit the east coast in seven years. forecasters predict irene will hug the coast, heading straight up the i-95 corridor. it's expected to hit north carolina as a category 3 storm early tomorrow, then head north and slam into new york early sunday, before pushing up into new england. president obama has already declared a national state of emergency in north carolina. drew levenson is in kill devil hills on the outer banks where they're already beginning to feel the effects. good morning, drew. what's the latest there? >> reporter: good morning, betty. the surf is really starting to kick up here along the north carolina coast as we are bracing for a direct hit from hurricane irene tomorrow. right now it is a

a choppy trade on both sides of the update. on wall street, the dow industrials still in positive territory. of almost 4% now. germany's dax recovered some of its earlier losses, finishing the day only 0.1% down. the euro stocks 50 closed up. a more promising day on european exchanges. and was up almost 2%. frankfurt was lagging behind. here's more from our markets reporter. that it was a roller coaster day here in the german equity market, after a relief from the start of the day, the benchmark index has lost more than 7%. but it could make good those losses during the afternoon as wall street opened positively. on a daily basis, the backs of a lost 101%. the main drag on the market side were utility shares here germany's second-biggest utilities reported a disappointing first half of the year results, pointing at the surprise future in terms of nuclear energy of the government as well. all in all, utilities were the biggest loser here on the german market site. >> staying in europe come fears remain that the efforts to put a

went on to samantha stosur thirteen time major choppiness rena williams though she lived up propelling the interest. from toronto to montreal now where the shock of the men's rogers cup to date so if you will for tsongas a judge third seed roger federer in the last sixteen the in-form frenchman securing the first set on a tie break before the swiss fought back in the second to the decider was totally one sided tsonga storming to be in line but six against. you want. no such worries for top seed there novak djokovic making it through after being clubbed more and silage in straight sets seven five six to the score in the serve second match since becoming world number one following his wimbledon triumph thus improving his season's record fifty wins just one defeat to federer the french. brings us to football where on saturday travel to our stuff aiming to unleash the recently back from injury last seen a troll or a twenty year old ivory coast prodigy has made an impressive start in the russian premier league drawing comparisons with chelsea compared fate didier drogba constantine to top o

. >> things will be very choppy.here are a bunch of people in washington and beijing doing their utmost best to make sure it does not get out of control. we will have a lot of mistrust, statements, some politically motivated -- >tavis: anti-china rhetoric. >> we should take a look at that. they are feeling that they now have the right to say something. tavis: john chan, a one to thank you for coming on. janet, it was good to have you one as well. i enjoyed my trip there as well. i have enjoyed this week of shows and our all-star panel tonight. that is our show tonight on china. see you next time on pbs. until then, good night, los angeles. as always, keep the faith. >> for more information on today's show, visits for donna fisher next time. >> every community has a martin luther king boulevard. it is the cornerstone we all know. it is not just a street or boulevard, but a way for wal- mart to get together with your community. >> nationwide insurance supports tavis smiley. with every question and every answer, nationw

a large crowd watched as surfers battled choppy water to kacht perfect wave. the event lasts all week and is expected to bring out world class competitors who will be vying for the $100,000 grand prize. >>> finally in new jersey, over 100 balloons with vibrant colors and special designs soared toward clear skies over the weekend. thousands were captivated at the annual festival of about a along. the event is billed at largest hot air balloon festival in north america. beautiful. >>> now for a look at the national weather, we turn to nbc meteorologist bill karins with the weather channel forecast. i've never seen anything like that live. i'm wondering if it's better in person. >> have you done a hot air balloon before? have you? >> yes. it's a fun, tranquil experience. >> is it scary? >> the landings are interesting. because you hit and you tip over. but the pilot will treat you well. well, good morning, everyone. let's talk about what happened this weekend. the heat continues. there really weren't many areas that weren't in the nintz in weekend. almost everyon

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it has been a choppy year for career ed as the industry has come under new rules for student loans. after tonight's news, the stock fell by more than 10% from this closing price, taking it below $20 per share. the stock was under pressure as the company announcing an internal review of job placement rates. finally, a rare bright spot for research in motion. the stock has been crushed in recent months. today? up almost 5% after announcing a new slate of blackberry smart phones. and that's tonight's "market focus." >> suzanne: is it a big bump in the road or a double dip recession? that's a question a lot manufacturers are asking. orders for new goods dropped in june for the first time in two years. in recent months, manufacturing has been a bright spot in the economy. the sector added more than 140,000 jobs in the first half of this year. still, as diane eastabrook reports, many companies say uncertainty about everything from taxes to trade are making them reluctant to hire. >> reporter: from the outside, business doesn't appear to be brisk at lapham hickey steel. but inside, workers

. >> the water was pretty choppy. >> reporter: it was the first time michael butler took his new canoe into the water. but canoeing was something his friends warned him not to do since he bought it last week. >> i think he was on medication taking for pain and things so it's a possibility that he didn't have the strength because he is small. >> he was pretty weak. he was disabled, blind in one eye, a bad back. >> reporter: his good friend and neighbor richard says butler went out with two men including richard's son who lived with butler at his treasure island apartment as his caretaker. the three took the could knew out on the north end of treasure island sometime between 3:00 and 4:00 yesterday afternoon when it flipped right at shore. >> canoe had capsized, you know, and they righted it and he said he was going to go out and get the oar and he pushed the boat out. >> reporter: he adds, the two men left butler in the canoe for 10 minutes and when they came back, he was gone. the coast guard says it didn't get the call that butler was in trouble until after 6:00. richard says he wasn'

. >> tom: susie, a choppy day of trading as investors are looking ahead to the end of this week. federal reserve chairman ben bernanke gives a keynote speech on friday at a conference in jackson hole, wyoming. ahead of that, the dow rose 37 points, the nasdaq added 3.5 and the s&p 500 was up fractionally. trading volume started the week heavier, with 1.1 billion shares moving on the big board and just under two billion on the nasdaq. >> susie: stocks bounced back today after weeks of losses, but still investor confidence is pretty shaky. so what would it take to restore investor optimism? erika miller reports. >> reporter: if the stock market were an amusement park ride, it would probably look something like this. investors are at the edge of their seats as the s&p 500 has dropped more than 12% this month alone. strategists say investors want to see three things before they'll be convinced it's safe to step back in. the first is the resolution of europe's debt crisis, as strategist david levkowitz explains. >> in think investors want to see the european policymakers make a very s

history is on many a financial mine right now fears of a repeat ascending markets into choppy waters to jason johnson professor of political science thinks only wrist averaging investor confidence will save the u.s. from recession the companies that have lost stock value over the last two days or two weeks these companies aren't magically not working anymore it's just that people's confidence is at an all time lows so if confidence stays low we will see another recession of confidence improves the economy will grow the only problem with that is when someone actually wants to call it or most of the u.s. debt right now is owned by china china is not about to reclaim the state of virginia they're not about to reclaim new york city by calling in their debt they primarily want to see america so if legislation can be passed united states if the president can sort some control and there's still some confidence in our future economy and the debts are less of a problem inertia and inability right now to give the economy moving here right now it looks like the chances of barack obama getting r

the red at the end of the trading day following losses in asia and europe market watchers say it's choppy a volatile after friday's american downgraded e.c.b. into. mention door to me now is not the you cannot be sales manager of producer financial corp so a lot of good to see you right now yes is down five percent my six three and a half percent how would you describe the situation. well the situation is clearing nothing short of a panic we have seen a somewhat panicky mood in the market last week and luckily we had forty eight hours to digest the s. and p. downgrade over the weekend we've seen quite volatile session this morning expectedly the market opened quite sharply down then recuperated parts part of the losses and clearly closing still lower and especially this is a bull cross the blue chip universe which is the easiest to get rid of and what we observe we have what we observe at the moment of the climb to seventy is we see hedge funds trying to get rid of the blue chip makers and the police situations trying to pick up somebody tell you a place in the second tier universe in wha

history is on many a financial mind right now fears of a repeat is sending markets into choppy waters and dr jason johnson professor of political science thinks only reestablishing investor confidence will save the u.s. from recession accomplis that have lost start by your glass to gaze at you we've used companies aren't magically not working anymore it's just the people's confidence is at an all time lows so if confidence the slope we will see another recession of confidence improves the economy will the only problem with that is when someone who actually wants to call it most of the u.s. right now is on by china china is not about to reclaim the state of virginia they're not about to reclaim new york city by calling in their debts they primarily want to see america so you have legislation to be passed united states if the president can sort some control and there's still some confidence in our future economy big debts are less of a problem because inertia and inability right now to get the economy moving right now it looks like the chances of barack obama getting real like that are

european shares are rising after a choppy start to trading the only direction seen for investors so far is that the speech by edward september and ben bernanke on friday and and investors. are hesitant to make any big moves they are also looking forward to digest the news from the u.s. geology bribery markets are flat talk for a brief rally in a very let's now have a look at some individual show moves and my six energy majors a mixed the sound will play slightly down but just monopoly gazprom is adding around a third of a percent on the news it will prompt natural gas to south korea through the north republic franking stocks also under pressure was losing point. in the news russia supermarket chain my fleet has reporters second quarter profit of seventy nine million dollars up eighteen percent from the same period of last year during the first half has opened over four hundred stores and says sales guy needed forty percent. russia may grant its gas monopoly gasper on the domestic price increase of fifteen percent next year that's according to russian daily fare to misty that's almost th

back a little so america's aaa credit score spots sell off some global market situation is a big choppy so far off the suffering that was struck since two thousand and eight on monday while the federal reserve admitted the economy was weaker than it previously thought that no immediate stimulus package would offer the lifted either increasing investor fears let's talk to mature a bit he's joined this to know still the news radio station or better world we all wish for it that way which i love to see thanks for being on the program the american people are now facing social programs like medicare medicaid but yet the huge military budget used for the america's many foreign wars remains virtually all touched ferro not put that to you. well i think this is one of the tragic things of our u.s. government and the way it managers our tax payers money haven't and i hope that this comes to an end sometime soon the republicans seem like they are hell bent on driving our economy into the ground no matter what it costs and to deprive people that are so needy of basic social services and programs it

shares have been choppy so far after suffering there was a drop since two thousand and eight on monday well the federal reserve admitted the economy was weaker than previously thought however no immediate stimulus package was offered to lift it increasing investor fears and radio host michel rabbit from the a better world station says it's the republicans refusal to deal with the debt that's causing all this problems. the republicans seem like they are hell bent on driving our economy into the ground no matter what it costs and to deprive people that are so needy of basic social services and programs that's really very tragic and they do it in the name of debt as though dead is the most horrible thing on the planet it's not it's not necessarily a good thing but there is a history that shows that when a nation has dead it actually helps to stimulate the economy it's an interesting inverse of the way the republican head said regards the situation so no one wants to be heavily in debt and there is a need to drop the necessary costs but it's very valuable to keep those costs that serve peo

and says you can see increased volatility it doesn't seem that the global markets are out to the choppy waters just yet. thank you very much for that. the downgrade may undermine the dollar's position as a global reserve currency some countries are consider reducing their reserves and so although let's risk the currencies but i have always burbank sees it as a great chance to hedge against the falling oil price. it never can go to negatively correlated with the oil price you know if you lou could even the history last three years every time one who prays lose the price if american did lose my spirits is not going to include hate she gives blue prius ratio this is why. you have been ignoring that p.c. p.c.r. . price. out a lot still to look at the markets now gold has such a fresh record as investors turn to asses lustrous gold is adding over forty four dollars per ounce while silver is gaining about a dollar fifty this hour in crude prices are a new low we're following the downgrade over the world it's the largest oil consumer there's no confidence in the market and just as open cerned

territory and you could be increased volatility it doesn't seem that the global markets ratz of the choppy waters just yet. thank you very much for that. downgrade may on them or in the dollars position as a global reserve currency some countries are consider reducing their reserves and so although let's risk the currencies. for a bank sees it as a great chance to hold it against the falling oil price. when you're a candidate many people are correlated with the price you if you lou could even be construed lies for years every time when you praise lose the. price of american did good why spears is not in the ph d.'s who place will ration this is why she should have been american that this is the c.r. . price would go down. and let's take a look at the markets now gold has such a fresh record as investors turn to asses off with us for us gold is adding over forty four dollars per ounce while silver is gaining about the dollar fifty this hour from crude prices are low we're following the downgrade of the world's largest oil consumer there's no confidence in the market and pulses are concerned

own cell which was the radisson and how you know that i'm playing a cage and that's a little bit choppy i was surprised. in a way because i didn't really think much about it in advance and i think back to that i think the degree to which you're getting and i'm here in the middle of next year unless we spend all our time and close proximity and share reports and i think the information getting out from the current the hotel and. whatever it's called the radisson. you know. right dr franklin lamb live from tripoli via broadband thank you very much for updating us on what's happening on the ground . but british m.p. barry gardiner from the main opposition labor party says helping the rebels with their ground assault went way beyond the terms of the un resolution on libya you can watch the full interview with him later this hour in twenty minutes time but here's a preview. it was very clear in the original un resolution it was very clear for our prime minister spoke in parliament here that there would be no patience for one of the things that troubles me all this was the speaker and reasona