commerce department and the international trade commission. it is an administrative process.e commerce department will send investigators overseas to factories to investigate whether there is a legal pricing schemes or illegal subsidies and if they find out there are, they will calculate a margin of tariffs to of sent any advantage. the role is to determine whether or not the u.s. industry has been injured by those imports. if it finds that they are which in case they did, then those duties are imposed u.s. customs authorities. get i'm wondering if you can your reaction to the latest move on this fight between u.s. steel companies and those located in places like korea and india as caitlin was describing. from the steelworker's perspective we feel that the case proceeded -- proceeded in a fashion that show that domestic producers, if they can compete in a competitive market meet in a growing industry. the shale gas room that has happened in the country has provided the domestic industry with significant opportunity. a lot of foreign competitors have seen that opportunity and

commerce department and others will find a mechanism to make sure this doesn't happen just once, but happens frequently. those of us who meet here use other mechanisms to make sure we stay in touch. >> good point to follow. >> two points. there is we hope it will be extended for years. in addition to that, south africa and africa are open for business >> good point. >> welcome to africa. and just behave yourselves. >> thank you. >> i think for 0 years after i cana has gone through substantial reforms. economic reforms. and to look using this market, they've been $2 billion usd is about what is happening in africa. what is happening again? markets are never long. >> good point. >> you need pun lick and private partnership. there is a problem that says if you want to go quickly, go alone. otherwise you won't get far. >> one is all on coming to washington. we'll hear about the electrified idea. a live to public to see the messages that they have. and that is years ago. lastly, talking about the u.s. and the rest of the world we cannot take no keep companies of our society. we may repres

from the commerce department. commerce reported this week that second quarter gdp, gross domestic product growth from april to june was 4%. up from the dismal 2.1% contraction in the first quarter that was attributed to the long bitter winter. the 4% gpp growth rate exceeded expectations by a pull percentage point. that good news is accompanied by more good economy news. consumer confidence up from 86.4 in june to 90.9 in july. the highest index put out by the conference board has been in seven years. since october, 2007. consumer spending is up. 2-point #%. business investment up. way up. from the first quarter increase to a second quarter surge of 5%. item. private sector job growth steady. still acknowledged to be a good solid number. >> also, the labor department announced friday a 209,000 new job had been added to the economy? july. the unemployment rate rose slightly from 6.1% in june to 6.2 july. how do these numbers sound to you mortimer zuckerman? >> it declined by 2.1% in the first quarter, so the average

but the inspector general of the commerce department which houses the patent office is concerned.s because when he got this final report a few months later, it said the internal investigation, quote: has not found objective evidence of time and attendance abuse. he has been investigating that issue i throughout the commerce department and says the final report did not convey the true extent of problems at the patent office. in a statement, the agency says the draft report was just that, a rough draft that was, quote: incomplete, inaccurate and reflected only a partial characterization of the full record. but we want to report that the final report did not reach a conclusion on possible time abuses by examiners because of unreliable records and inconsistent witnesses. cheryl? cheryl: and the dog ate my homework, sure. [laughter] so what is the patent office saying, what are they doing about all of this? this is ridiculous, actually. >> reporter: well, even this final report says the agency's use of some of its internal controls in this area is, quote, inkilt. and the report -- cons

gross domestic product increased 4.2% in the second quarter of this year according to the commerce department'stimate. meanwhile, wall street's record-setting rally continues on tuesday. the s&p 500 notched its 30th record of the year and closed above 2,000 for the first time. another positive story, the congressional budget office has reduced the estimate for how much the federal govern ment wil need to spend on medicare in the coming years. conservatives were dead wrong when it comes to medicare. and the president's plan did not say it it rations the program and raids the program and we get rid of the rationing and we stop the raiding and we save the program from bankruptcy. >> what are the absolutes here? somebody doesn't have the truth or doesn't have the facts. every year for the last six years in a row the congressional budget office has reduced its estimate for how much the federal government will need to spend on medicare in the coming years. the latest reduction came in a report from the budget office on wednesday morning and the changes, they're not small. they're big. the difference

we'll return to that event at the commerce department at 1:50 p.m. eastern when secretary of state john kerry moderates a panel with the presidents of ro wanda and other leaders. they will hear from president barack obama at 2:45 p.m. eastern. in about 45 minutes we'll look at the issues members of congress will be dealing with during their august recess, leading up to the fall elections. our guest is sabrina siddiqui, political reporter for the "huffington post." at 8:30 eastern we'll be joined by charles lewis, author of "935 lies," the future of truth and the decline of america's moral integrity. "washington journal" is next. >> good morning. it's tuesday, august 5th. it is primary today in four states. many will be watching in kansas to see if pat roberts can be knocked out there. in washington, african heads of states are here for the first-ever summit held by the obama administration. deals between african countries andus companies are expected to be announced today. president barack obama

the commerce department says that retail sales were up a little bit. the dow is up 90.he nasdaq is up 43. s and p, up 12. >>> candy crush's stock, the proceeds from the once wildly popular game, were down for than ex-petted. share--expected. shares are down about 23% on the news that the company has new games but they are not growing rapidly enough. >>> apple suppliers have already started manufactures new ipads, according to a report from bloomberg news. the reports says that the full- sized ipad may come with an antiglare screen. it could be un-vailed before the end of the year. the timing is important, as apple is getting ready for a new product push. ipad sales have declined for the past six months. >>> a stanford professor is the first women to get the medal forout standing discovery. 37-year-old maryam mirzakhani was recognized for her contributions in yes woman tri and the understanding of curved surfaces. she is going to help scientists make better predictions in other works. she accepted the award at the international congress of mathations in seoul, south kore

and servesks at dhs as a cio at the commerce department and various other agencies. itby used to work at the wing of the defense department. i will let each of you going to your roles more in depth and talk about the role you play in forward looking cyber initiatives. believe is a longtime in the labs in general that there really is a binary definition of the world. there are people that want to create a safe, stable, secure cyber environment. it fosters stability. education. there are people who want to break that down. that is a comfortable place to be for me, personally. i get to be a good guy. that's kind of nice. look at the world is, what is the state of technology and why are we here you go we see a lot of net 95 artifacts. the internet as it was designed. as it was when we first started using browsers. that was an internet design for use and an ability to get on rapidly and exploit it rapidly to do good things. that design paradigm exploits itself to inherent insecurities. the question we ask when we look at what to do going forward is what can we secure? hac

the commerce department reports construction of new homes increased 15.7% in july.nce november and followed declines in may and june. that fueled gains here on wall street. the dow gained 80 points tuesday. the nasdaq was up 19. and the s&p 500 gained 9 points. >>> apple helped push up both the nasdaq and the s&p with a new record. apple stock closed tuesday at just over $100 per share, a new high on a split adjusted basis. the company's stock has surged since its seven-for-one split in june. >>> former microsoft ceo steve ballmer is stepping down from the company's board. ballmer says he plans to devote more of his time to the los angeles clippers. he bought the nba franchise for a record $2 billion last week. ballmer is the largest individual shareholder of microsoft stock. >>> and parking attendants, beware. big brother is watching you. ♪ taking a joyride like the two valets in "ferris bueller's day off" won't be possible in the new 2015 corvette. general motors is installing a feature called valet mode which records video, audio and speed data when the owner han

commerce department show that u.s.orts in june fell 34% amid the battle over sanctions, and that's the lowest level since january of 2013. russian imports also fell for the third month in a row. meanwhile, defense secretary chuck hagel remains very concerned about a possible russian invasion of ukraine. he says the build-up of russian troops near the border and their sophisticated weapons suggest that this is a real possibility. u.s. officials say that russia currently has about 20,000 troops near eastern ukraine. >>> let's talk more about the russian sanctions, what this mean overall for the economy and the international market. cnbc's geoff cutmore joins us live from london. geoff, explain how much of an effect this is really going to have. >> well, good morning to you. obviously, we've been scanning the numbers here, just trying to work out who's going to be impacted by this. to be honest with you, it is a modest amount of exports that comes from the united states on the agricultural front. basically, $1.3 billion,

seen in one nine hundred ninety seven well it's been a while now a separate report from the commerce department showed inflation easing in june a price index for consumer spending excluding food and energy edged up zero point one percent after getting zero point two percent in may through the twelve months ending in june the index was up just one point five percent which is still below the fed's two percent target the same report showed income growth group zero point four percent in june and despite the numbers being up the important takeaway from all this is that the news isn't all positive the labor force participation rate or the share of working age americans who are employed or at least looking for a job increased sixty two point nine percent in july after holding at sixty two point eight percent for three consecutive months but other measures closely watched by fed chair janet yellen took a back step. a broad measure of joblessness that included that includes people who want to work but have given up searching and those working part time because they cannot find full time employment that

. >>> and the commerce department reports overall, americans spent more money on a variety of products. energy costs have dropped for the first time since march. >>> and apple is breaking secrecy for the first time and they are letting some users test drive the operating system before the official launch. they unveiled the yosemite software and they look at how they can help. it is a baby monitor for the car and before the owner hands over the keys, the owner punches in a code and that activates a camera and it monitors speed engine rpm and the idea is to allow corvette owners to know exactly what happen while the car was out of their site. >> some parents are like that about their cars. >>> coming up in 25 minutes, what he is doing in the area today. >>> and with the 49ers in your home, how the team is responding to the problem. it makes me happy to go on the computer. i like feeling smart. internet essentials from comcast has brought low-cost internet access to over 1.4 million low-income people at home. internet essentials helped me progress in my schoolwork. it helped my grades mov

job right should be no more important than the bureau of weights and measures and said the commerce department and by the way if you ever run into a federal laws serve -- reserve official to say they want to put a 5% inflation because it stimulates the economy translating to a typical family. and next the 1,000 is france's. >> who gave you the family and why does it stimulate. >> it just seems the something is wrong it is another broad enough discussion is so much more sophisticated now the value of gold changes in fluctuates it great deal. that deluge was artificially created so they had the years heehaw that we had to expand to spirit isn't fair a broader concept of distribution of wealth hendon come? it seems so complicated in this situation. >> the key thing is to recognize that money is a measure of value. just like the clock is a measure of time and if you grasp that then you see that gold does not influence of money supply it just make sure when the dollar is created as a fixed value. that you take your point on deaf fluctuating price it is less about the gold or more about the market's

the commerce department said housing starts rebounded 50.7%, surpassing the decline of the previous twoonths. anika khan is a senior economist at wells fargo securities. she is with me from charlotte. good to see you again. >> thank you for having me. these julyut numbers, why were they so much better than expected? look at the, if we previous two months, we saw weakness, but especially if we zero in on last month, one of the things we noted was the significant drop was odd, confined to the south. in this report, we saw a rebound in those numbers. of course, this is the second time housing starts have been above the one million mark. this regionalbout breakdown for home construction. what did it look like? pretty much broad-based increases. the midwest did see a decline. one of the things we have to keep in mind is that when we particular,south in that is where a lot of the home inventory resides. we are also showing that a lot of the activity in those regions where there is high tech, of course, energy, job prospects, as well as population driving a lot of the activity. so we continue

the commerce department reports of gross domestic product rose at a 4.2% annualized rate, up from annitial estimate of 4%. michelle girard is the chief economist at rbs securities. she is with me from stamford, connecticut. good to see you again. you do not believe the gdp number radically alters the growth profile for the second quarter. why not? change ins not much terms of growth with the exception of maybe investment was better. overall, the takeaway was the same as it had been before. aerybody is excited to see four handle on second-quarter growth. a lot of people have forgotten that it follows a contraction of over 2% in the first quarter and i don't think you can dismiss that. quarterske the two together, the economy grew only 1% in the first half, and that is disappointing. admittedly, the question is where we go from here. startings a great point, but i'm not sure we will be able to sustain that pace as you look ahead to the third and fourth quarters. >> you just alluded to this business investment, a big driver in the second quarter. how would you describe the business comm

i want to thank people at bloomberg philanthropy commerce department. right now, africa is undergoing a swift transformation. africa is the second fastest growing region in the world, home to six of the ten fastest growing economies. this growth reflects hard work africans have done to lay a foundation that supports investment. a potential for expanded ties offer tremendous opportunities for the people of our two countries before i talk more about investment in africa, let me say a few words about u.s. economy. data demonstrates growing strength nl of the u.s. economy is continuing. we saw strong gdp growth. our private secretario created 10 million new jobs first time since 1997. over the past 12 months job growth has been higher than any year in 2006. unemployment has fallen. auto industry is thriving and housing industry is fighting it's way back. manufacturing is rebounding with more than 700,000 jobs added strongest growth over any comparable period since late 1990s. we've produced more oil than we import. we're the woerl's leading producer of petr

[applause] legoseled recently to with the secretary of commerce on a commerce department trade mission to west africa with 20 u.s. business companies. i felt and saw the energy surrounding african and u.s. business persons eager to do business with each other. i saw the excitement of his misses who inked deals right there. mutuallytial for a beneficial trade and investment relationship between the nations of africa and the united states was palpable. the time is now to take the u.s. africa bilateral relationship not to the next level, but to a higher level. a level that fully recognizes and matches the ingenuity and expertise of african entrepreneurs with the expertise of their american counterparts and vice versa. i welcome you to the meeting today and wish us all a very productive afternoon. thank you very much. [applause] >> as i indicated, the leadership of the house is focused on africa. when you think about united states history, this individual is an integral part of that history. she is the woman who was the first woman to be elected speaker of the united states congress. she i

government decide ad couple years ago to have a coordination center to put everybody together, fbi, commerce department and isil and homeland security together and took, they

looking at the day ahead, commerce department is releasing its international trade data for june. little later this morning. >>> meanwhile, cbs drug store chain took hit in sales after its decision little earlier this year. to phase out its tobacco products. but the pharmacy has pick up the slack. a specialty drug use helped the earnings jump 11%, the company said it is expected to take revenue hit at the front of the store, rather, due to its increased focus on healthcare. >> 5:25 the time. the new york times is reporting a russian crime ring has got its hands on more than billion stolen internet credentials. stolen data includes passport and user name combinations, and more than 500 million e-mail addresses. 500 million. the information was taken from more than 400,000 websites, and includes big name retailers, to small internet sites. >>> mcdonald's wants to see if you'll be loving lunch in a minute. it is a test program the fast-food chain trying out in south florida. the trial runs weekdays, from noon to 1:00 until the end every august. customers get timer after they've paid

loser, anybody who works in the private sector, commerce department employees made 80,000 a year ands for doing nothing, staying home and doing laundry. the joke is on anybody who works in the privacy sector, you make more than the average private sector person, clearly the way to go. >> losers were iraq and afghanistan veterans whose unemployment rate ticked up this time when the job numbers came out and 600,000 of them dropped out of the workforce. whatever we're doing to hire vets is not working. the winner this week, ted cruz put another notch on his belt hurting the republican party's prospects for 2016, after the government shut down last year -- >> go. >> he led the immigration obstruction at this time -- >> amazing how you're able to throw -- it was really very good. >> winner qatar, otherwise the country becomes the bit arbitor in this war. and it's not his fault but he's got a hurting in the caucus and looks bad the way the republicans acted -- >> you trash qatar, whatever you call it. stay tuned to see an nfl star in mid season form answering questions. crestor lowered bad

the commerce department reports the economy grew at a rate of 4.2% from april to june, faster than theeds had predicted. the labor department reports new jobless claims dropped for the second straight week to just under 300,000. >>> president obama getting ready to meet with his national security team to decide how to tackle the threat from the islamic state. whether more air strikes are in order. >>> plus, word hackers may have snatched account information from customers at one of america's largest banks. >>> our "fox report," more headlines from the news desk. folks in gaza returning from shelters to see what's left of their homes. a cease-fire between the palestinians and israelis appears to be holding after 50 days of war. the fighting reportedly killed more than 2,000 palestinians and more than 60 israelis. >>> new york city police investigators released surveillance video of a cab driver attacking a woman and her three young children last weekend. it shows the driver picking up one of the kids, then knocking her to the ground. he then threw another child on to the sidewalk. polic

job right should be no more important than the bureau of weights and measures inside of the commerce department. and by the way, if you ever run into a federal reserve official, ask them in terms of assuming power by the fed can ask them. they say they want to cover two and a half% inflation because they believe that creating extra money stimulates the economy. that translates to a typical family an extra thousand dollars a year expenses. ask them who gave you the authority to tax an american family an extra thousand dollars a year and why it is paying that stimulate economic activity? i would love to hear -- i've asked it, but i haven't gotten an answer. >> it seems even though i belief you are correct that something is wrong with the money i don't think it's a broad enough discussion of two cover what's happening to us economically. it's so much for sophisticated now than it was then i believe you're in ours as. a few things i will throw matthew the gold changes fluctuate a great deal and a lot of the value of gold is artificially created by legislating it as the center of the value of money.

economy getting a much-needed boost this past week, although commerce department data show the unemploymente edged up slightly to 6.2%. second quarter gdp bounced back at an annualized rate of 4% growth. thanks to healthy business investment and consumer spending. despite july's job growth of 2009, thousands coming in below expectations, it still shows the sixth straight month of more than 200,000 net new jobs, making it the longest streak since the mid 90s. let's shed some light on these numbers and what they mean for you and your wallet. martin feld stein with me, prove of economics and harry pitt, former chairman of the securities and exchange commission. gentlemen, good to see you. thank you for joining us. >> good to be with you. >> marty, let me kick it off with you on this really mixed week for the economy. gdp up 4%, but, of course, that was after a contraction of 2.9% in the first quarter. how would you characterize the data? how is the economy doing? >> i think the economy is doing much better. as you know, when we talked in the past, i've been skeptical about whether we had reall

the commerce department revised second quarter gdp this week up to 4.2% fuelled in part by corporate at their highest levels on record. this news comes as the s&p 500 reaches an all time high. but my next guest writes the economy is doing great, exempt for the people in it. joining me now is jared bernstein. the guy i trust most with our economic questions. so this was completely depressing, seeing this headline. is this good news just not trickling down? >> for the most part, that's the case. we have gdp up 4% in the second quarter. that's a nice pop. if you look over the course of the recovery that is now five years old, so this economic expansion is actually kind of long in the tooth, gdp up 11%, equity markets, s&p which hit a record last week, that is up 92%. almost doubled over this recovery. but median household incomes or the income of the typical middle class family is down 3%, down in real terms. the good news is that even though it's come down, recently it started to reverse and we're seeing some progress as the job market improves. so it's not as gloomy as maybe that head

go to the commerce department and state department, qatar is reasonable, reasonable ally because we have fleet presence in qatar. the fact of matter, david, a businessman, i spent 30 years doing business in the region. david: i know. >> you will have to pick and choose where you feel most comfortable. there are countries in the region that will be determined to good close allies of united states. number one place is united arab emirates. the emirates remains a safe valid ally of the united states where businesses are comfortable doing work there. david: do they, they don't have sections of the united arab emirates that defend isis, do they. >> on the contrary. the emirates is squarely defender of the and ally of united states where qatar has not. the too many businesses rushed into qatar without doing risknal is sis. almost like the chinese spying qatar. david: right. >> the qataris wind up having tentacles by extremist organizations. no the just because it is central place for funding these organizations, but just think about it. hamas's major operation middle east outside of gaza are b

the commerce department says the nation's gross domestic product will have had 4.2% annual rate. that is slightly faster than the 4% pace originally estimated. economists say the upward revision reflects stronger business investment than originally thought. recently the economy has shifted into a higher gear with companies hiring and consumer confidence now at a seven-year high. >> there's a dire prediction from the world health organization about the ebola verse outbreak in west africa. the epidemic could infect more than 20,000 people and spread to more countries. the w.h.o. warns an international effort costing almost half a billion dollars is needed to overcome outbreak. the u.n. health agency says the virus could spread to ten more countries beyond the four affected now. so far more than 3,000 cases have been reported. >>> the national institute of health will start testing humans with an experimental vaccine to prevent the ebola virus. the vaccine was developed by the agency's national institute of allergy and infectious diseases and glaxosmithkline. 20 healthy adult volunt

. >>> meanwhile commerce department will release their report on the number of new homes, sold in julytoday. >>> burger king reportedly in talks to buy a chain based in canada. bk would combine with tim hearton's. the the merger would mean the companies share their corporate services but still operate as stand alone brands. >>> routers is report ago this sony's play station network is backup and running, hackers are to blame for sunday morning's take down of the network. according to reports, sign's tack coincided with a bomb scare on a flight, carrying a top sony executive. the fbi reportedly investigated the scare but they are not commenting. a group called list air squad is claiming responsibility for the attack. >>> there is a dad in georgia who would like to bring his gun inside of hi daughter's school and he is suing the the school's principal in order to to so. the the principal of bellua elementary school threatened to have the father hugh myers arrested for doing that but hugh myers attorney says under a new state law licensed gun owners can bring a registered gun to school. m

commerce department said it increased 15 1/2% to rate of more than million homes.ws sent the overall stock market higher today. >>> inflation is kept in check as consumer prices relatively flat in july, the best reading in five months. energy prices were down a third of a percent that is, helping to offset a half percent rise in food costs. over the past year inflation is up 2%, in line with target set by federal reserve. >>> according to sec the ceo of gamestop had surgery to remove a small cancer russ brain tumor. it was found early and prognosis is good. those are some of the hot stories on foxbusiness.com. >>> coming up evidence that solar pan necessary are not what the administration wants them to be. >>> living in a multimillion-dollar house for nothing of all you have to do is decorate. we'll have latest on the new trend. you can take advantage of it ♪ (trader vo) i search. i research. i dig. and dig some more. because, for me, the challenge of the search... is almost as exciting as the thrill of the find. (announcer) at scottrade, we share your passion for

nasdaq fell 17 points, to 4300, and looking at the week ahead commerce department issuing internationalde data for june on wednesday. >>> a program for providing a escape for prisoners lock behind bars you could say. they have formed a music band. as part of the rehabilitation program for inmates in california. many of them have been in jail for decades and will never leave but their passion for music on to younger inn mates. >> we're away. we're gone. we're off when we're playing, you know what i mean. it doesn't matter where we are at. we could be here or on the streets but when we're playing we're all in the same spot. >> the state sponsored program allows for inmates to participate if they have been on good behavior since entering prison. >>> 5:27 right now. meet a lady, this is a dog, she walks 30 miles to try to find a forever home from one house to the next looking for her family. how her journey for love is finally landing her, a happy ♪ the world famous fries you love, plus a shake of three new flavors you add. introducing mcdonald's shakin' flavor fries. and right now you can

commerce department and bloomberg philanthropy is focusing on economic issues.ave added a panel discussion on the ebola outbreak in which hhs and the cdc will all be there. so it's a coincidence, but a lot of smart people can get together with the relevant countries that are coping with this and probably have a pretty good discussion. >> they are going to hear fromo. this is a big deal. that does it for us for this edition of "andrea mitchell reports." follow the show online, on facebook and on twitter @mitchellreports. "ronan farrow daily" is next. we never thought we'd be farming wind out here. it's not just building jobs here, it's helping our community. siemens location here has just received a major order of wind turbines. it puts a huge smile on my face. cause i'm like, 'this is what we do.' the fact that iowa is leading the way in wind energy, i'm so proud, like, it's just amazing. who gets the allstate safemma, driving bonus check. rock beats scissors! wife beats rock. and with two checks a year, everyone wins. switch today and get two safe driving bonus

pursue every piece of data, every single piece released by the government whether it be the commerce departmentt it will have terrific trades or impact your investments, i say hold it! we listen to this stuff. we read it it. we wait for analysis from people who are supposed to know what they're talking about and we make decisions off these bits of data and we pick stocks off of them and we sell the stocks off of them and when crowe do this you think you know when you're doing. let me tell you, it's a mistake. the last five years of public trades to my charitable trust where you can follow along on charitable trust.com, i can tell you that the nonparm payroll report i mentioned before the break emphasizing most of the data points have been just plain wrong. i know, that may sound inconceivable. how can they not mean anything? a lot of that has on do with the day book phenomena. every news editor has a list of data that comes out on any given day and it has decided that a big story must be done without that information. when i started in journalism it was a hand-printed ledger and it was all-impo

that's according to the commerce department. anallies say it's a clear sign the united states housing market is now picking up steam. >>> more on the situation now in ferguson, missouri, where officials are gearing up once again for that they believe could be another night of violence. fires, looting and vandalism over the last ten days have destroyed parts of ferguson but with school out for the rest of the week, some teachers, along with church groups and others, are vowing to clean up and move forward. mike tobin witnessed this first hand last night and is live with us today. very different scene in the daytime. crowds come out to pick up the mess now, huh? >> something that is sad and humble that happens in the quiet just before daybreak you. zoo see people emerge with trash bags. sometimes on their own, sometimes organized by church groups or teachers organizations, but they clean up. not only clean up on the street but cleaning up the stores that have been looted. the family of mike background showed up inside of sam's mea

another key report on the economy, commerce department says the consumer spending in june rose four-tenths of that was the strongest gain in three months. income up 4/10ths of a percent. wages starting to increase a bit part of the reason we saw the sell-off yesterday uncertainty over when the fed is going to raise interest rates as we see stronger job gains and wages rising that could push inflation higher forcing the fed to act at some point sooner rather than later. also some strong earnings reports in from tesla and linkedin. tesla's revenue up 54% to $858 million. linkedin up 46%. nearly $300 million. both are surging in early action. let's check the big board and see if we are doing any better and still losing ground but not nearly as bad as yesterday dow down 30 points. nasdaq up by 4. s&p down a fraction. you can thank tesla for the nasdaq. its shares are up 3%. linkedin in is up by 8% in the early going. back to you. >> thank you. enjoy your friday. >> reporter: you, too. >>> 6:47 now. let's check in with liza for a check on our traffic. very busy out there. >> it certainly has be

and then, tomorrow, the commerce department reporting on housing stats, for july. >>> sea world sayst plans to build larger spaces for its whales at its theme parks. the company also announcing it will fund new programs to protect the ocean, and killer whales in the wild. this comes after years of criticism about how the company treats those animals. the company officials say that the plan to have have been in the works for a while and this is not a response to any backlash. >>> some air zone state students will not be moving into their dorms this week instead they are moving into hotels. the dorms are simply too full so as a temporary fix about 200 students will be staying in nearby hotels in the space open up. opens up rather. meanwhile a record 8,001st year students are settling into their new homes. >> you're bringing your whole life, so a place you will be for the next ten months. it is really amazing. really stressful, because you don't know how everything you have will fit in this little room so you are trying to put everything together in a way that it will not frustrate your

the commerce department reports that in the 2nd quarter, gdp was up 4.2%. compared to the initial take of 4% growth and you can really credit business investment on that spending more money on new structures and new equipment. consumer spending the same at 2.5% growth. and the job market continues to look solid. the labor department says that first time weekly unemployment claims lower 1,000 to 298,000 and the four-week average pulling just below 300,000. those reports are nice but the stock market is pretty much looking past all of that. we have reports that russian troops have now moved into ukraine and those increased tensions are truly worrying investors this morning sending stocks quite a bit lower. also, williams-sonoma the san francisco-based retailer is under pressure after reporting revenue that missed expectations in the recent quarter and also provided slightly weaker guidance going forward. let's check the big board and see how we're doing so far. not that pretty. right now the dow losing 100. nasdaq down 21. s&p down 9. williams-sonoma shares d

commerce department reports that new home construction rebounded 15.7% higher in july.lowing those declines two straight months and then further encouragement building permits up 8.1%. meaning we'll see strong gains going forward. the bulk of this is multifamily building apartment building up 33% in the month of july. as builders look to take advantage of that big demand for rental space. >>> decent news for consumers as far as inflation goes. the labor department says consumers inflation rose only .1% in july. although prices at the pump were down by .3%. so bit of relief there. overall, consumer side inflation up 2% but with the past 12 months that's still within the federal reserve's comfort range as it tries to determine when it will finally hike its benchmark interest rate. >>> various retailers are reporting some solid earnings and that includes home depot. its sales up over 10% to more than $23 billion. that's helping out the stock market in the early going after a big session on monday. let's take a look at the big boards and see how we're doing so far. the dow

government decide ad couple years ago to have a coordination center to put everybody together, fbi, commerce department and isil and homeland security together and took, they all agreed to do it. took them nine months to put together a memorandum of understanding how they would all cooperate. they couldn't even agree how to cooperate. >> that is always, rice bowls and stovepipes and always a problem in the government and are always a problem. >> would i like to see export enforcement, particularly arms export a greater priority within the department and department of justice. department of homeland security really wants to do this. i mean, you know, in terms of these operations they're the funding source. they are the ones who sum ply most of the travel and all of the rest and department of homeland security as you know, think a strong and sincere interest in pursuing this. i think they could get more support from the department of justice, and i think, you know, part of the department of justice has many, many things to worry about. there are lots of different kind of crimes and everybody who is advoc

commerce department reports retail sales and macy's is kicking off several days of department store earningsthat happens later today. gina martin adams advises the institutional investor clients of wells fargo. you are telling clients to underweight retail. >> yes him for a number of reasons. pretty terrible earnings momentum revision all year. a pop asay be said for companies are said to beat expectations. expectations are so low. expectations i think there are still too high for the fourth quarter forward growth. the consumer quite frankly usually follows housing. had incredible housing activity last year. this is creating some deterioration. >> continue. here is the deterioration of macy's. is there any other chart like this in the world? this is like a home run. look at this. >> $10 in 2009. >> a pullback. >> one of the reasons is macy's has really mastered the clicks and brecht on the channel. driving business by walking into the store. also leading the charge of the big discount. sale.is always a eating into macy's margin. toit is difficult to speak -- individual names. so i cannot tel

i hope there is a mechanism to follow-up this conference, and i am assuming that the commerce department and others will find a mechanism to make sure that this does not happen just once but happens for what lay. -- frequently. k and makelook tak sure to find mechanisms to defend such -- keep in touch. we hope that our growth will be extended for a few years. and that south africa will be included. african and africa are open for business and partnership. >> a great point. welcome to africa. we wish you americans a lot of money that, just behave yourselves. that is all. [laughter] over the last 20 years, africa has gone through very substantial reforms. legal, itpolitical, see inrtant that what we the media, that we look engaged where africa is using the markets. its eggs a lot about what is happening in africa. in nigeriapening tele whole story because markets are never wrong. >> very good point. >> all of the work in nigeria, egypt, it is all partnerships. if you want to go quickly, go alone. if you want to go far, go together. you will not get very far without this kind of partnership