it is the cnbc action. still more ahead on "cnbc reports." >>> it is the debate that has americans talking like never before, health care. today president obama put himself in the middle of the fight. an unscreened audience had their chance. >> money doesn't grow on trees. >> i think this is a good point and i appreciate the question. a lot of seniors are concerned. >> president obama starting to shed some light on how he plans to pay for health care. the gold delta skymiles credit card... from american express... it's the official card... of the world's largest airline. and it's the only credit card... that earns miles on delta. miles that take you... to more places than ever before. over 350 destinations worldwide. so switch today. get up to 25,000 bonus miles-- good for a free flight. call now to apply. there's no annual fee for the first year... and you can redeem... with no blackout dates or seat restrictions. these are just a few of the benefits... of carrying the official card of delta air lines. swi

"cnbc reports" starts right now. >> tonight on "cnbc reports." the bulls take a break and the bears win the day but there are several big names that have been down in the dumbs making a comeback now. on that list, aig. look at this chart. up 275% in a month. what's making this stock jump? fannie, freddie, bank of america, citigroup also making moves. in depth on the widely held stocks on the st. if almost everyone else owns them, shouldn't you? what we will learn from the kua kuants. >> i'm in for my colleague, dennis kneale. even with a friday fade, the positive news from retailers and bad news on bank those in critical condition topping 400, the death of massachusetts senator ted kennedy. 46 years in office and 77 years on this earth being celebrated tonight by family and close friends at jfk in boston. and tomorrow buried in the arlington cemetery. >> five owe their survival to government intervention. today, trading totaled almost 40% of the big board listed volume. freddie me an and fannie mack, check out this chart. fannie mae up 52% and fr

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"cnbc reports" starts right now. tonight on "cnbc reports," you think oil and you think boone pickens. tonight the great american oil man is right here only on "cnbc reports." alternative energy, natural gas, and drill, drill, drill. >> the only resource we have is foreign oil. >> how do we get at it? what more can we do with it? how can you make from it? we have a lot of questions, and we have answers. and tonight, an issue that's creating energy in all 50 states. >> health care system is slipping away. >> health care forums nationwide are exposing raw emotion. tonight, will it be too much for the white house to take? and bulls, bears, and your money. a tip today, but is the market showing the true face of recovery? is it a lot stronger than the numbers let on? get the real deal with dennis kneale. "cnbc reports" starts right now. >> good evening. i'm dennis kneale. now that we know the recession is over, and it really truly is, guys, it's time to contemplate the big recovery. most forecasters say that this rebound

president and ceo is here to explain in a cnbc exclusive.hank you for joining us today. >> thanks for having me. >> i'm looking at your report now. you say the number of homes listing nationally has gone to a low since '97. is that because they are taking them off the markets or buying house? >> a combination of both. we're seeing good buyer demand driven partially by the $8,000 credit first time home buyers are able to get as well as strong interest rates and strong demand for consumers who continue to have jobs.. presses have fallen so much, people that previously were rent thanksgiving wanted to get into a home are doing it. combine that with the fact that sellers whose homes have lowered, the prices have come down, they have decided not to put their houses on the market. that combination is lowering inventory plus strong demand. >> people say that's a shadow inventory on the sidelines, as soon as we bounce off the bottom we'll see a flood of houses on the market. do you think that's going to happen. >> there is a shadow inventory that ex

cnbc's pharma reporter mike huckman back at hq with another first right here on cnbc. michael?good morning. despite the stock reaction, vertex pharmaceutical is less of an earnings story and more of a drug development story. drug for hepatitis c. what's referred to is the silent epidemic because the symptoms are sneaky and this disease is little talked about ppt joining me live from boston for a cnbc exclusive and in his first interview with taking the helm with the company is chairman and ceo matthew emmens. good morning. and thank you for joining us. >> it's great to be here. thank you for having me. >> sure. while you're going to have some data at a scientific conference coming up, your key test results really aren't coming out until sometime in the first half of next year. but for those who aren't familiar with hepatitis c, would you please explain the scope of this problem and why new drugs like yours are so needed? >> yeah, mike, it's the giant wave or it's a tsunami. basically we estimate there's at least 170 million people in the world with this disorder. last 20 or 30

you're watching cnbc, first in business worldwide. >>> we continue our theme on the consumer spending, rising for a third consecutive months, but retailers continue to struggle to boost back to school sales. one possible reason, more americans are turning to lay-away. cnbc's jane wells has been doin a bit of lay away herself. hey, jane. >> hey, mandy, you find something you really want to bu like these spongebob boxers,  can't afford it, and within a  certain amount of time come bac with a full cash balance and  take it home. no interest charges. now, lay-away sort of went away as credit cards became more easily available and you could take this right away and pay it off in installments. now shoppers are finding their credit cards maxed out and kmart is seeing purchases take off in heading back to school. liz is using lay-away to buying clothing for an upcoming grand baby. >> well, they took it away in a lot of spots, because it used to be that kmart, sears and all of the other bigger stores had it, and then took it away for

thanks so much, cnbc reports starts right now. >>> tonight on cnbc reports, go away? forget it.t's up up and away for the markets as the dow approaches 10,000. a few more solid trading days and we could be there before august is in the books. the dow is getting close to 10,000, the s&p and nasdaq also outperforming just about everyone's expectations. >>> plus, big news on many of the biggest most widely held stocks. we have the list. >>> also tonight, what this man means for the markets. >> right now we're seeing growth in the second half of the year. >> will ben bernanke stay or go? we're covering markets on a big day for america. this is a special edition of "cnbc reports" recovery watch. now here's scott wapner. >> and good friday evening to you, i'm scott wapner, no other way to say it. what a day. the dow up big time. take a look at this chart. up 155 points, that's more than 1.5% for the week, the dow was up almost 2% as we broke the 9,500 mark. look at the s&p, up more than 2% today, but in the last six weeks, it's up 16%. the nasdaq picking up 1.6% today, as well, in the

of we're cnbc, first in business, worldwide. taking its rightful place in a long line of amazing performance machines. this is the new e-coupe. this is mercedes-benz. >>> according to "new york post" hedge fund big wig john paul son is gobbling up shares of citigroup. the stock up about 70% in the last month alone apparently trading at 4.8 3 with another gain of 4% today. aig, fannie mae and freddie mac are also on the rise of. the question now is, are risky stocks still a good investment? let's ask our bull, hank schmidt, chief investment officer from has beener ford investments, and our bear, dan fitzpatrick, president of stock market mentor. i'm going with the bear first. dan, what do you think? how great is the risk? >> well, they're pretty risky. however, i think you almost just have to play price action. i mean, longer-term, we're going to have problems financially. i mean, on these riskier stocks. but for right now, frankly, i think i've got to take the long side of the trade. in fact, i'm long citigroup. >> oh! dan fitzp

cnbc's hampton pearson with the details. hampton?> reporter: this afternoon the fdic took an outside the box approach to stop the drain on its insurance fund triggered by an almost epidemic wave of bank failures. 81 and counting so far this year. the worst wave since 1992. bank closings so far this year have cost the fdic an estimated $21 billion. moments ago the fdic approved new rules that will make it easier for private equity firms to buy failed banks. the key change, lowering the tier 1 capital requirement from 15% to 10%. the standard for a well-capitalized bank is 5%. the fdic board says the policy change strikes a balance. >> i do think that the compromise position that we've struck today is a good and balanced one, and based on certainly what i've seen so far i think private equity will continue to bid with this criteria. >> reporter: a controversial source of strength which would have put more private equity on the -- that was dropped. the fdic says these new guidelines will be reviewed every six months. >> we get more now

eastern on cnbc. melissa lee is there with more on what's coming up tonight, "fast money" ten minutes away. >> we'll have the best plays for tomorrow. also, the trader training camps -- he's got a chalk board already. he'll get you in shape for the fall. the first on cnbc's interview, the first on gold corp. and where he sees gold prices to the end of the year. that and much more on fast money at the top of the hour. >>> thanks. continue consumer spending continues to be weak. will the video game business give holiday shopping a boost? you really need it these days. how come? well if you're hurt and can't work it pays you cash... yeah to help with everyday bills like gas, the mortgage... ...and groceries. it's like insurance for daily living. so...what's it called? uhhhhh aflaaac!!!! oh yeah! that's it! aflac. we've got you under our wing. a-a-a-aflaaac! tdd#: 1-800-345-2550 if i'm breathing, i'm thinking about trading. tdd#: 1-800-345-2550 i always have my eye out for a stock on the move. tdd#: 1-800

cnbc mary thompson has the full report. >> hello, larry. earlier there was word from washington suggesting an sec ban on so-called slash trades was imminent then mary shapiro said no so fast. they plan to eliminate the in equity resulting from flash orders but the ban needs to be made first and then public comment. they trade on early orders with speedy computers. a broker slashes and order in return for liquidity feechlt a opponents say it gives traders an opportunity. >> they're wrong because the customer chooses to put the flash order in. >> they say opposing flash orders because the end customer may be disadvantaged if that broker dealer doesn't share the liquidity fee it receives. because only select traders get to look at the orders, the big board maintains it creates an uneven playing field giving traders information they can use to their advantage both on that exchange and others. if you put in a public towards buy or sell a certain stock, it may be the same as slash order and won't be fulfilled because a selected order may act ahea

tune in to cnbc world to catch all the action overseas at cnbc's global headquarters.'m guy johnson, going global with your money. >>> so tomorrow we get the most important data point of the month. it is the monthly employment report. we all wait for it. it's like our super bowl every month. and it's really important right now, considering the state of the economy. we get three great guests today. charles biderman is ceo of trimtabs investment research. got a lot of interesting ideas about what's going to happen with employment over the next couple months. we're also joined by john herrmann president of herrmann forecasting. and ron insana, portfolio manager at thestreet.com money movers. john, let me start with you. this employment data tomorrow, what's it going to look like and what's it going to mean about the economy? >> here's the deal. right now what we're thinking about is we're at the low 3 handle decline. we have been thinking there was a chance we might be able to hit a 2 handle decline but we think that's more or less in line for the next -- one of the next

"cnbc reports" starts right now. >> tonight on "cnbc reports." passions ignite off the palisades parkway right next to cnbc. >> the government is going to make all the decisions who is going to live and who's going to to die. >> the great health care debate one of the most contentious issues of our time comes to our door. >> i worry for my future and my children's future and my grandchildren. >> anger, fear over the president's health care bill igniting town hallucination-wid hallucination-wide. >> who's gonna pay, who's gonna pay? >> tonight, the future of american health care. also tonight, a big day for the markets after a two-day pause, the bulls come roaring back. we have the real deal on your money on the future of health care and on the things that matter most to you and your family. "cnbc reports" starts right now. this is "cnbc reports" at the end of the day, your first look at tomorrow. >> good evening, i'm dennis kneale. i come to you tonight fresh from the heartland. the people have spoken. boy, are they pissed. i was there at the hea

you're watching cnbc, first in business worldwide. a a a a aa >>> with stocks now sitting flat coming off their post new home sales highs, indeed we are still around 10-month highs. some wall street observers expecting a krebs. here is what pimco mohammed el-erian said earlier on "squawk box." >> if and when the selloff comes, which we expect will probably happen, then we'll be in a position to take advantage of better values. >> are we headed for a selloff? let's ask our bull, smead capital management and vitti cata lanno, president of managed research. bill, you're the bull. do you disagree with mr. el-erian? >> well, mr. el-erian, he sells bonds. and so they're the largest -- >> you're saying it's in his interest to say this. >> they were saying that at the bottom in march. they were looking for more down side in march. so what we see right now and maybe a transition period from the enormous surge in economically sensitive things to investors going back to what they should care about, which is how long is a franchise going to last,

she joins us for favorite on cnbc interview. good to see you and congrats on a good quarter. >> good morning. thank you. >> mindy, you were able to achieve this strong quarter through what we're hearing from a lot of companies now, and that was by controlling costs. at what point do you start to see the shift from controlling cost to really growing revenues? >> well, if you really think about it, our performance in the quarter was about leveraging the unique and differentiated aspects of our business model in addition to managing costs and our operating profit. so what we're focused on being live 24 hours a day is our ability through our diverse product categories to manage shifts in consumer demand. and if you look at hsn in particular, we were able to only have a sales decline of 1%, but others rose 15%. it's been a balance of leveraging our models, controlling investment, making strategic investments and gross profit. >> one of the things that aided you in that endeavor is the ability to really control inventory. have you a u

cnbc's mary thompson joins us now with the details. mary, a huge news day for b of a and the order of the announcements not lost on us in the media business. >> no, no, no. you had the settlement first and then quickly those management changes. melissa, the banking giant has laid out a succession plan for ceo ken lewis as well as settling s.e.c. charges that it made false and misleading statements about bonuses paid to merrill lynch employees. first to the changes in the c suite. b of a saying this puts a number of executives in line to replace lewis when he steps down.n. among them, 44-year-old sallie krawcheck, the former head of citi's global wealth management unit. she's joining b of a to run its global wealth and investment management business. cnbc's charlie gasparino reporting that aloung with krawcheck brian moynihan, now heaved consumer banking, tom montag, head of global markets, and now global corporate and investment banking, barbara desoer who is head of home loans and insurance and ceo joe price are the five horsemen in t

and "options action" 8:30 eastern. >>> a lot to watch for next week on cnbc. monday we'll see if the markets can keep the roll rolling. tuesday, watch for case-shiller's housing numbers and consumer confidence. wednesday, new home sales and durable goods, that is all for us tonight. have a great and safe weekend. now stay tuned for "options action" with melissa lee. that is coming up next. don't miss it. we'll see you next week. >>> welcome to "options action" your front row seat to the smart money. i'm melissa lee, here's where the action is tonight. breakthrough. stocks bust the training range, but does the smart money buy the rally? we'll tell you. >>> game on, why some options traders are playing this name for a takeover, but should you take it to the next level? we've got the answer. >>> and the up side call. perfect aim with target earnings. >> what i want to do is buy an august 42 44 call spread. >> now they set their sights on dell. "options action" starts right now. >>> welcome to the show, these are the traders on the desk at the home of the world's

tony fratto former white house deputy press secretary and a cnbc contributor. thanks so much for joining us. tony, where do we stand in this battle? >> there's still a lot of time left to go in this month. but i'll tell you, it's not looking good for the president. the white house said today the president was setting out to change some minds and it appears he's succeeding. every time he goes out he keeps changing more minds against the health care proposals under consideration in congress. so it's a real problem for them right now. >> greg, you don't agree with that? >> maybe my friend tony can help me. there are so many good arguments against this health reform plan, i'd be the first one to agree. but this euthanasia death squad stuff which is mccarthyite garbage, why haven't any republicans spoken out against this kind of demagoguery? >> i think we know exactly why. but instead of the health plan itself, let's talk about how it's being managed, how the message is being managed. i mean, greg, you said the issue is now radioactive for a lot of democrats. >> it

. >> hey, scott, i'm rebecca jarvis in for maria bartiromo at cnbc global headquarters. and in the markets right now, as scott mentioned, stocks are still higher, holding on to those gains, on track for their first gain in three days. reaction to the federal reserve's latest policy statement has been pretty positive here in the final hour. just a few highlights, the fomc making no change on interest rates, noting it will remain in the zero to quarter basis point target range for an extended period of time. the fed also expects economic activity to likely remain weak for a time though it expects inflation to remain subdued. as for the major indices take a look at them right now. actually near the highs of the session at this moment in time. the dow up 175 points. the nasdaq right now also hanging steady in green territory, up 45 points. the s&p 500, the overall markets also to the up side by 18 points. we have steve liesman here in studio with me to break down some of the headlines, steve, that not only on what we -- we do have some breaking news right now, steve. >> yes,

cnbc asia's amanda drury is with us. she's here this week at cnbc global headquarters with her take. mandy, great to see you. we're fortunate to have you this week. can you give us a sense of what it looks like on the ground right now? >> it's really interesting because i remember only about six weeks ago when the market in china was up about 90% year to date. in fact, the best-performing index around the world year to date. a lot of people were saying, you know, it really feels like the heady, frenzied bubble days back in 2007, when everybody was wanting to get on the bandwagon and throw their money into the stock market regardless of what the valuation was and what the fundamentals of the market were. massive liquidity-driven asset inflation-driven kind of rally. and everyone was wanting to get on board. now we're seeing a minicorrection, maria, and a lot of people are trying to work out is this the start of a bigger correction to come? is the bubble bursting? what does it mean for the rest of the world? and of course

let's go to cnbc's matt. hello, matt. >> interesting day, we had three economic data points before we even got rolling and investors chose to ignore the real surprise, an increase in factory orders and focus again on the preliminary jobs data, the adp, which has now taken on more and more respect ahead of the big one coming out friday. the adp an services data coming out weaker than expected and snapped the momentum in terms of improving economic story. look at the big picture, dow and s&p snap ag four-day rally, both down a half a percent on the nasdaq and the worst of the three, a .9 decline and the big product consumers maker coming out with revenues that had people concerned, the problem is their products are premium priced and therefore their sales are feeling the pinch, p & g. and one of many energy stocks, interesting noting here, they missed by five cents but said their north american business has seen the bottom. the same cannot be said for the international side but baker hughes giving up almost 80%

call me at 1-800-743-cnbc.this morning, it looked like we were in for a nasty selloff. >> house of pain. >> the consensus was that we were going to get pollack and at first, that's exactly what happened. with the dow taking a 700-point plunge shortly after the opening. so, how come we rallied so hard? the dow closed up 61 and the s&p levitated seven points higher. why did this nutty market once again confound everyone's expectations? why does this darn thing have so much trouble staying down? first of all, the main reason so many people thought we were in for a beating today was you guessed it, weakness in china. but as important as china is, and you know i am always willing to acknowledge that the people's republic has become more important than the united states --

we appreciate it. >>> coming up, we've got first on cnbc doubleheader for you. we'll talk cash for clunkers for the chairman of the national auto dealers association. >> but first phil lebeau's live interview with jim lentz on the future for the world's number one automaker takes tries to gain u.s. market share only here on "the call." mr. evans? this is janice from onstar. i have received an automatic signal you've been in a front-end crash. do you need help? yeah. i'll contact emergency services and stay with you. you okay? yeah. onstar. standard for one year on 14 chevy models. >>> toyota says it will build and affordable sports car that will be available in the nest couple of years. the company also saying the u.s. market will recover and it will come back stronger. right now take a look where it's trading, down more than 3%. last trade 83.72. phil lebeau joins us live from michigan for the special guest in another first on cnbc interview. >> it's been a big day here at the center for automotive research conference in traverse city, michigan. in his first pu

fortune and cnbc join forces at 9:00 p.m. eastern time to give you the fastest scoring countries of 2009. tyler mattison is here. how do you get on this list? >> well, what we did, what fortune did in a deeply secret proprietary methodology is look at three years' worth of earnings per share growth and three years' growth of sales growth and stock market total returns. then, looking at all companies that are traded on a u.s. exchange file reports at the sec, they ranked them and came up with a listing of the top 100 growth companies taking those three different variables, mushing them together to come out with a top-ranked company, 1 to 100. >> rem, an interesting name. >> rem was the number one company. it should be no surprise. i tell you this. while there were many companies on here that were technology companies whose products that you and i might not know, quite a few were companies we would know very well and no one, none of us here, probably, doesn't have a blackberry we carry around and we probably spend more time mak

every night on "cnbc reports" is a big night. get the real deal with dennis kneale right now. ♪ >> good evening, i'm dennis kneale. that opening there was put together by a very talented producer here, kind of nice, christmas in august. as for today, about time somebody took profits, stocks fell the second day in a row, only a little bit. is the rally really over or staying alive? i'm still building hope for the great recovery, the notion the rebound from this horrible recession could turn out to be more robust than everyone expects. i'll tell you why in the real deal with dennis kneale. we have a couple more signs today the rebound from this recession does not have to be as slow and pokey as many fear. goldman sachs made a major change in their forecast for gdp growth in the second half. they expected only 1% growth in gdp. today, goldman raised that to 3%, triple the original forecast. that would mean an extra $140 billion in business for the u.s. economy in the next six months. the second upbeat sign, weekly jobless claims cam

that's cnbc news now, first in business worldwide.'m mike huckman, and "fast money" with melissa lee and the traders starts right now. >>> it is a market that won't go down. welcome to "fast money," live at the nasdaq market site. i'm melissa lee and these are your "fast money" traders. the s&p 500 holds the 1,000 level, inching higher today. these guys will give you the best way to play. and later, rick santelli, aka, the big sur, reveals what may ruin this rally, plus, behind the high-frequency trade. first, the "word to the street." let's talk about that 1,000 level. it is a good sign, i would imagine that we held onto that level. >> huge level. you have to look at this in a couple different ways. the hedge funds tried to push and break this market's back and couldn't do it. mutual funds forced a buyout on the that level. i saw. it this morning i came in, hung funds kept telling me, i think the market's going to crack today. i didn't think so, mutuals didn't think so. it didn't. >> we were talking about this on the halftime report,

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>>> hello and welcome to cnbc's "worldwide exchange." we will be talking about health care reform and the impact of ted kennedy's death later on in the program. right now, though, we're turning our attention to what's going with economic data. we're going to get the latest snapshot out of the release in europe. it has risen in august. the august business climate index, the 0.5. stronger than expected. we were looking for a figure of 88.9. no surprise to see the euro edging up on the back of that to its highest level of the day. the august expectations index, and that's where most of the gainers come from, 95 versus reuter's consensus of 92. the ifo institute, this service is probably the most important sentiment indicator that we get in europe. let's get some reaction to that. alexander, senior portfolio manager at investco management. the numbers were better than the consensus expectation. how much more good data can we add in here to keep sending stock markets higher? >> that's really amazing to see how future expectations are driving

and cnbc's rick santelli with us as well. jeff, let me start with you. why do you think we gave back at the close here does it mean anything or just i little profit-taking over the weekend? >> i think the muted response to much better than expected data is important. this is the best non-sfarm payroll we've seen since back in august, prelehman brothers failure. but look what's priced in, high yield bond spreads, corporate bond spreads are also back to prelehman levels. today's data just confirms what we already know. and once the market's fully priced in a recovery there's no more wall of worry for the market to climb. we're not there yet but we're getting close. >> i don't know, bill, if i buy it was a muted response. look where we've come from from march. >> it's been a very impressive, very impressive bounce in the markets. our concern here is looking at the data today was certainly impressive on the surface but if you scratch below the surface it looks to us as though a big part of this -- big part of the improvement today was simply due to an auto i

jim goldman, cnbc, business news. >> amazing. what a change. lets head over to the nasdaq market site where melissa lee has more on what's ahead on "fast money." >> we'll be all over the action. we'll keep you up to date on those comments from the company conference call. we'll talk about the auk away ceo will tell us what he sees for the housing market. and we'll get the futures. a retired four star general and also the interim ceo of bae system to tell us about the future of that defense trade. it may be cybersecurity which may be your best way to play. thank you. >> thanks so much. we'll look forward to it. tomorrow brings the initial jobless claim reports. tdd#: 1-800-345-2550 if i'm breathing, i'm thinking about trading. tdd#: 1-800-345-2550 i always have my eye out for a stock on the move. tdd#: 1-800-345-2550 doesn't matter if a company sells computer chips tdd#: 1-800-345-2550 or, i don't know, fish and chips. tdd#: 1-800-345-2550 i'll look at all kinds of stocks before i settle on one. tdd#: 1-800-345-2550 if i think i'm onto something

cnbc's brian joins us, the full rundown on the story. you were working hard today.y. >> you know, larry, it's not about technicals or fundamentals, it's also psychological levels. i'll tell you what i'm talking about. when it comes to the s&p 500 and the dow, these are levels we have not seen since november the 5th. that number, of course, over 1,000 on the s&p 500. we go to the nasdaq over 2,000, we haven't had a close at that level since october the 1st. so that's where we are psychologically. i want to start with alcoa, the best percentage gainer, 7%, of course that commodities play is in full force. bank of america. how about the day bank of america. they settle a dispute for $33 million, they're wondering what the secession, the plan, they were the number two gainer, up 3.6% up on the day and then we get ford, on any day these would be leaders, they had the first uptick, up 4%, but i want to point out to the year-to-date on february the 20th, this stock traded $1.58.8. here at the nasdaq, we focussed all day on apple and google, goo

that's cnbc news now and we are first in business worldwide. i'm courtney reagan. >>> "power lunch" continues for a thursday. stocks struggleth and s&p below 1,000. tonight panic. financials have been helping to offset the declines. financials have been strong, michelle. >> i'm michelle caruso-cabrera. the ceo of fm global is here and we will talk about the earnings and futures of the financial markets. >> i'm rebecca jar sis. twitter back online after being down for hours as law firms advise ceos to be extra careful about what they say over twitter. look at the fallout. >> i love that. we are joined by a friend, allison from dean's wealth management. we had a bang up july in the stock markets and so so, so far for august. what do you think about the market? >> i think right now the markets are going to retrace as people grasp what's going on economically, but the market is headed up at least 10%. >> do you believe the economy is turn something. >> it's turning and i think corporate profits will be better than people expect. the companies retre

tune in to cnbc world to catch all the action overseas.sia headquarters i'm adam bakhtiar going global with your money. >>> well, gamers hunting for a bargain are getting a break. microsoft's cutting the price on its xbox 360 by $100, matching a similar move by sony made just days earlier. both the xbox and the playstation 3 now cost $299. and there is speculation that nintendo may also cut prices on the wii console as well. is this the start of a price war? it certainly feels like it. or an overdue move to match consumers' habits? joining us now, two industry analysts, evan wilson from pacific crest securities, and ben schachter of broad-poi broad-point mtech. good to have you on the program. what do you think, price war or something else? >> i think this is something that traditionally does happen in this space. so it's not unexpected, and i think it is overdue a bit and we would like to see nintendo cut sooner rather than later. >> what is this going to do to margins? >> well, i think overall for the publishers what they care about is h

this is cnbc. i'm racing cross country in this small sidecar, but i've still got room for the internet. with my new netbook from at&t. with its built-in 3g network, it's fast and small, so it goes places other laptops can't. i'm bill kurtis, and wherever i go, i've got plenty of room for the internet. and the nation's fastest 3g network. gun it, mick. (announcer) sign up today and get a netbook for $199.99 after mail-in rebate. with built-in access to the nation's fastest 3g network. only from at&t. [ engine powers down ] gentlemen, you booked your hotels on orbitz. well, the price went down, so you're all getting a check thanks. for the difference. except for you -- you didn't book with orbitz, so you're not getting a check. well, i think we've all learned a valuable lesson today. good day, gentlemen. thanks a lot. thank you. introducing hotel price assurance, where if another orbitz customer books the same hotel for less, we send you a check for the difference, automatically. >>> okay. remember a

cnbc's jane wells is in los angeles with a closer look at the bizarro economy. jane? >> you don't want to look too close, melissa. it's a little ugly. everywhere you turn right now the taxpayer's footing the bill. that's not new. what is new is how often we're suing ourselves or subsidizing ourselves. the best example may be the story mary thompson's reporting on today, mank of america paying a fine to the s.e.c.c. >> i don't know if i'll get to do another acquisition during my career. this is too important not to get right. >> i bet he hates seeing that tape. that was almost a year ago. and in this circle of death -- debt. death, debt. b of a got 45 billion in bailout money. then it bought merrill lynch, which got 10 billion. then b of a spent nearly 6 billion on bonuses to merrill execs without telling shareholders, mostly the taxpayer, and then agreed to settle the charge by paying 33 million to the s.e.c., which is also the taxpayer. all four of those items are filled with taxpayer cash. you also have the s.e.c. suing regents bank, another bank bailed out by taxpa

this is "the call" on cnbc. >>> okay, here's the bottom line. investors not waiting for the fed decision this afternoon. instead coming back into the markets, buying the financials and the chip stocks gaining after applied materials gave an upbeat earnings outlook. don't forget the national association of retailers says median home sales rose 4% from the first quarter, still down, we know, and the dow up 122 points, 9364, the s&p charging higher, as well, up 1.25%. and the nasdaq now trading higher by 1 and 2/3% on the day. trish, a lot of energy on the floor. >> why not? up 125 points right now. really this is being fueled by the financials, a little bit by tech. but what you have going on is basically everyone very excited about this fed meeting today and the assumption -- the assumption that the fed will kind of keep things as they are. the status quo. and not be raising rates any time soon. they're looking for some language that may indicate some plans to have an exit strategy at some point. but not in the near future. and that's why you're

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joining me in a first on cnbc interview to discuss is connie kuhlman president. good to see you. >> good to be here. of. >> what's the answer? >> the answer is, americans are going to be spending less. it looks like about $300 this year, and on average, that's down from previous years. the expectation is that they're just not going to spend as much, especially on conspicuous kinds of goods, right? nothing kind of fancy, right? no luxury kind of items. >> it's interesting, because we have this debate almost every day here on this program. you know, where exactly does the consumer stabbed nd in all of t and there have been a lot of bulls out there that say that things are getting better, and the american consumer has a psyche that wants to be moving forward. that is, in fact -- we just had a guest on who was saying the american consumer is exuberant, and said they bought lots of underwear in the first quarter, but they're going to buy lots of fancy tvs in the second quarter. so it was necessities and then luxuries. and you're saying when you go out there and talk t

welcome to "squawk box" right here on cnbc. carl quintanilla. u.s. equity futures are pointing to a higher open this morning. you're talking right now those dow futures up by about 66 points above fair value. this continues a two-day winning streak for stocks right now. on the agenda today, we have a number of important economic reports. at 8:30 eastern time, we get the weekly jobless claims. polled economists see claims falling by ,000 to 550,000. continuing claims are expected to fall by 141,000. at 10:00 a.m. eastern, watch for economic surveys. >> meantime, fed officials will continue gathering in jackson hole today. fed chairman ben bernanke will be speaking tomorrow morning and we'll be looking for other officials to be speaking out. our steve leisman is on the scene and will be hosting a live one-hour event tonight at 8:00 p.m. eastern time. if there's a nature backdrop, if there's fishing going on and economic speak, you know leisman is there. >> kansas city fed in welcome. >> it's chopped up. >> they don't havehotels i

former white house deputy, cnbc con tributer. i'm a little bit confused here by krugman's remarks because he knows full well it takes a long time for the stimuli to work its way into the economy. i don't see how you can decide 2 today that the first one didn't work. >> that's right. we could have a problem with the first stimulus and one of the first problems of nobel prizes, guys getting nobel prizes for some arcane work and somehow it makes them experts on everything. i think paul is just wrong on this. look, we still have more than $600 billion of the current stimulus still to >>> i could argue it's not designed properly but that's coming through. that's doing to be spent well before congress could debate and consider and put in place a second stimulus. you combine that with a huge amount of monetary stimulus out there and it doesn't make sense. it's a kooky idea. >> keith, you're from the instant gratification generation, aren't snu i want more stimulus, i want it now. i want it to work right away? >> i thought that was a con

welcome back to "squawk box" here on cnbc. i'm joe kern along with becky quick and carl quintanilla. the house has approved the occur for clunkers program and the senate has to act next. we have a live report from phil lebeau on the issue. >>> it all builds up to friday's big jobs report. today they're reporting on manufacturing. tomorrow, personal spending. wednesday is when the real build-up begins. we'll get the adp report, which gives us some hint at to what to expect on friday. on thursday, we get weekly jobless claims plus the interest rate decisions from the ecb and boe. on friday, forecasters are looking for data that could show the economy lost 300,000 jobs of last month. jason roeny is standing by. we're looking at the futures, indicating a gain of 100 points today. after all the gains from the last month. when continues to be the driving factor on the floor? >> it's a big week for european bank earnings. last night we started off with the big two. hsbc and barclays. both were better than expected. they were not able

cnbc diana has the report. >> we're still setting record. total loans past due climbed to 30% of all loans out standi ing and the culprits are changing,

"cnbc reports" starts right now. >>> tonight on "cnbc reports." the summer is over. you heard it on "cnbc reports" first. finished, through, done. so tonight, we're moving on to the fall. just like dennis called the recession over more than anyone else. >> this horrible, frightening recession is ending now. >> we're bringing in the back to school, back to work, back to business season before anyone else. on the agenda tonight, just hoich money will flow into the narcotic from retail investors the next few weeks. the nasty health care battle focus. and how the backlash populism that swept through washington like a virus on the internet will affect american business. "cnbc reports" starts right now. get the real deal with dennis kneale. >>> good evening. i'm dennis kneale. wl well, knock me over with a feather. i would have bet a bundle on a big tumble in stock prices today. retail sales unexpectedly fell a tiny bit. walmart seat zeals were bleak. jobless dlam clails went up a touch higher than expected. yet stock prices rose again. the dow now just two points away fro

here on cnbc. i'm becky quick along with joe kernen and carl quintanilla. the economy is front and center today. the federal reserve starts a two-day policy meeting. the central bank is widely expected to leave its key target lending rate near zero. but market watchers will look for signals on the fed's other programs. at 7:30, we'll get the nifb aechgs small business survey. we'll get the findings live, complete with william did you thinkelberg's findings. 90 minutes later, we'll get the wholesale trade numbers. we'll see exactly how much employers were ringing out of their employees to try and make sure they made some of these profit numbers we saw when we got the earnings. >> the anchors in addition to earnings central, right, joe? >> i don't know how you want to call it -- >> work harder, cracking the

phil lebeau, cnbc, chicago. > on wall street today -- stocks erased early losses after a big drop in oil inventories raise hopes about increased demand. the dow finished the day up more than 61 points. >>> when "nightly news" continues this wednesday evening, summer storm season in full swing. where is the giant hurricane bill headed now? >>> later police officers and neighborhood kids finding common

. >> we will talk about this off line here on cnbc. a great show and he's fired up. still to come, it's the cobweb of webs. does craig's list need to shed the design and creepy image to thrive in i wouldn't call it creepy. i put a lot of stuff on there. from prison to emergency. why sir alan stanford was rushed to a hospital. a live report on the other side of the break. you are watching cnwc. we'll be right back. some people buy a car based on the deal they get.

coming up at the top of the hour, we have a first on cnbc interview. i'm going to be talking live with the ceo of ing direct. the company is out with a brand-new survey on holiday spending, the results of which are happening first on cnbc. we're going to find out whether or not americans plan to spend this holiday shopping season. today is the five-year anniversary of google going public. certainly been a great run so far, but should you consider buying the stock now? we're going to debate that. we have all that, plus the latest market news from the new york stock exchange from the top of the hour. but first, "squawk on the street" is right back after this break. it doesn't cover everything. and what it doesn't cover can cost you some money. that's why you should consider... an aarp medicare supplement insurance plan... insured by united healthcare insurance company. it can help cover some of what medicare doesn't... so you could save up to thousands of dollars... in out-of-pocket expenses. call now for this free information kit... and medicare guide.

here is cnbc scott jones to tell us about it. hi, scott. >> reporter: i think you may be on to something. we did snap a four-week run. there's a lot drop-off. we are still up about 10% for the month. for the year we're up 11% and way, way up from those marlos, that's a one-month -- let's see that big climbup. there are the lows from march and here we are now. 6 63.2 and the university of michigan, a four-month low. an overwhelming number of people said their personal financial situation had deteriorated. that and the lackluster consumer price index hurt. jcpenney down sharply. target and walmart, too. abercrombie & fitch and tiffany's were up. abercrombie & fitch had a stronc outing. boeing had a wrinkle in plans for a new 787 dreamliner. the skinl of those planes could -- could -- impact delivery. next week lots of housing data, wholesale prices, more earnings including the last two dow components. hewlett-packard and home depot. we have a lot to come up with. we only pulled back a little bit. >> half a percentage point for all

that is cnbc news now. call, everyone, 90 minutes into trading on the floor of the new york stock exchange, i'm trish regan. we are off almost 200 points s right now on the dow. quite a selloff based on disappointing earnings out of the likes of lowe's. live reports from none other than the nyse, the bomb pits and oil pit, big day, melissa. >> thanks, trish. i'm melissa francis. larry kudlow is off today. account airlines overcome the recession? have you noticed there aren't any empty seats on the planes? should you invest in the stock? in our "call of the wild," " should the government rescind andrew hall's $ 00 million pay package? stay tuned. this is "the call" on cnbc. >>> buckle up, stocks pressure from the get-go. look at the dow, down almost 200 point opts session, 190 points, better than 2%, 9130. the s & p the downside, dow down 23 points, about 2.75 percentage points, nasdaq trading lower as well. it is really getting slammed, down about 2 1/2%. look at oil. sinking as well today, slider low, down