diane eastabrook in belvedere, illinois. in the "market focus," a choppy session with another late- session rally paring down earlier losses. it was push and pull between the slightly encouraging u.s. economic data and the sour tone out of europe. the s&p 500 hit its worst level of the day around 2:00 p.m. eastern time before staging a comeback to finish in the green. volume on the big board dropped to 778 million shares; nasdaq saw one and three-quarter billion shares. defensive sectors consumer staples and health care saw buyers, as did the materials sector, but they were up less than 1%. among the material stocks moving higher, dow chemical. the global giant won a $2 billion award from the state- run chemical company in kuwait. that company cancelled a multi- billion dollar plastics joint venture with dow four years ago. shares rose more than 3% on heavier than usual volume. what was to be a $17 billion dollar plastics business was canceled during the credit crisis in 2008. the kuwaiti company said it is considering its l

. >> i'm diane eastabrook omaha steaks is gearing up its production line for its second biggest holiday: father's day. "nightly business report" is brought to you by: captioning sponsored by wpbt >> susie: a rough day on wall street. u.s. markets followed european stocks lower as investors worried about that situation in greece. the dow tumbled 125-points. the nasdaq lost 31 and the s&p down 15 points. commodities also sold off: gold fell $23 to $1,561 an ounce, wiping out all of its gains for 2012. also hitting a new low for the year: oil. it closed at $94.78 a barrel in new york trading down over a dollar. over at yahoo, the revolving door turns again. this time c.e.o. scott thompson is out, after it was revealed he padded his resume with a bogus college degree. he's is being replaced by ross levinshon, the firm's head of global media. so what does this change at the top mean for one of the nation's biggest media companies? erika miller reports from new york. >> reporter: this is ross levinsohn, the seasoned ad exec who is in charge at yahoo!, at least for now. but let's be clear, eve

as diane eastabrook reports, what is happening at cat could be an early warning sign for other companies. ( car honks ) >> reporter: drivers honking their support helped these striking caterpillar workers weather picket lines in a downpour. nearly 800 workers who make hydraulic systems at this plant near chicago walked off the job last week when the international association of machinists and aerospace workers couldn't agree on a new contract with cat. the union's beef: a proposed wage freeze, higher health care premiums and switching from a pension to a 401(k). >> my purpose for coming here was for a pension, to be able to go out with a pension. now i have 19 years here, and they want to take that away from me. >> reporter: cat is hardly hurting for money. it reported a $1.6 billion profit in the last quarter, up nearly 30% from the previous year. it also revised its 2012 outlook from $9.25 a share to $9.50. caterpillar has historically had a contentious relationship with its labor unions. back in the late 1990s, the united auto workers union went on strike for more than a year before i

thanks, lauren. >> reporter: i'm diane eastabrook in chicago. tomorrow, the c.e.o.of online travel company orbitz tells us how he sees the summer travel season shaping up. >> tom: finally, the race is on, on wall street to get you to buy stock this summer. "fortune" magazine's allan sloan has seen this summertime sales pitch before. >> welcome to summer, wall street version. in the real world, summer starts june 20 or 21 and ends in late september, but on wall street summer starts the day after memorial day and ends the friday before labor day. so you're likely to start hearing about the prospects of a summer rally. wall street, of course, always wants to find a reason for you to buy something. stock prices, in fact, tend to rise in the summer, but they tend to rise every season because wall street has more up years than down years. jeff hirsh of the "stock traders almanac," who studies market history, told me that catching a summer rally is an old retail broker's line to "gen up" business in what is typically a slow season. but in the last 40 years he says, spring

diane eastabrook in think with us tonight, thanks, diane. >> >> as we wrap up our series the agricultureconomy, we focus on a global leader in the food business, sysco, now, you might not know the name, but sysco supplies food products to thousands of restaurants in the u.s. and canada. two-third of its $40 billion in revenues comes from sales to restaurants, while hotels, schools and hospitals make up the rest. >> when i met with sysco ceo william delaney i asked him how muchigh food prices are pactg his business. >> well, they have impacted us a lot, susie, we experienced higher food prices for the last few years as much as six, seven percent it is a damper in terms of our customers in generating revenues when your costs are going up three and a half, five and a half, six percent for these restaurants and 35 percent of your cost structure let's say that is a big increase so you have to find a way to offset. >> the price for beef and grain have been surging. >> right. >> what to you see as your focast going forrd? do you see prices coming down a bit or stable lieding or going forward? >

with facebook getting ready to sell stock to the public, diane eastabrook reports on how social media is changing the corn belt. and from the small screen to the smaller screen, as more americans go online to watch t.v., are the advertising dollars headed there too? that and more tonight on n.b.r.! we begin with jobs. a new report from private payroll firm a.d.p. says the economy added only 119,000 jobs in april. darren gersh joins us with the latest. >> reporter: tom, that a.d.p. number is a big slowdown from the job gains we've been seeing. and it raises concerns about what's ahead. is this a slowdown or a slide? for now employers are still hiring. >> it's not terrible news, but we'd like to see it stronger, cause we want to bring that very high unemployment rate down. >> reporter: a big surprise in the a.d.p. report-- manufacturing lost 5,000 jobs in april. one explanation may be factories hired during a warm winter the people they would normally hire in the spring. >> part of what you are seeing here is a little bit of a blip. manufacturers remain a little anxious, i think quite f

it's definitely something you have to work at. >> reporter: diane eastabrook "n.b.r." mokena, illinois. >> tom: our focus on vets and hiring continues tomorrow with a look at helping veterans translate their military skills into civilian job descriptions. our "made in america" series heads to silicon valley, where we meet silvertree media, the company behind popular online games like cordy, and sleepy jack. and goldman sachs holds its annual meeting, we'll hear from a major shareholder. in the "money file" tonight, pre-paid cash cards. if you use those re-loadable cards, listen up: some new rules could soon be on the way. the cards look like debit or credit cards, and have become a $150 billion market. they are a popular alternative to checking accounts for low- income americans. but they're not cheap. the cards often carry high fees and charges. the consumer financial protection bureau wants to change that by proposing new federal standards for pre-paid cards. its goal, making it easier for consumers to compare cards, and understand fees. speaking of spending money, i

diane eastabrook, "nightly business report," pella, iowa. >> tom: as memorial day approaches, this week we're looking at veterans returning from duty and finding a tough economy back home. the average age of someone signing up for the army is around 21 years old. tonight, we meet one young veteran who returned home wounded but determined to fulfill his entrepreneurial dream in the years ahead. 25-year-old josh berlongieri plays with his two-year-old son and his wife on a sunny morning in hollywood, florida. after five years in the army, including 15 months in iraq, he has a full-time job and is going to college. but it almost didn't turn out this way. berlongieri was a specialist infantryman in the army. on september 4, 2007, he was in the second truck of a five- vehicle convoy driving along route predator, one of the most dangerous roads in baghdad, when he heard a blast. >> we look up, and the front lead truck is completely disintegrated. blown up, smoke everywhere. people are screaming, and you can see everything going on. >> tom: four soldiers died in the blast, including berlongier

diane eastabrook introduces us to one unique program that begins training soldiers for jobs as welders before they're even discharged. >> reporter: two years ago, vincent haynes was wielding a wrench instead of a blowtorch as a marine mechanic in korea and japan, but the 24-year-old knew he didn't want to fix machines after he left the military. >> i did a little bit of welding in high school metals class, and it's just something that i'd really like to get into. >> reporter: it turned out the united association, the union representing plumbers, pipe fitters and welders, was looking for veterans just like him. so now haynes can be found hovering over a drafting table in a classroom... >> what compass direction are we traveling from the center of this 90 to this center 90? east. >> reporter: ...getting instruction on a training floor... >> we'll have you clean up this. >> reporter: ...and working on- site as an apprentice welder. >> when i came in here right off the bat, they were real nice, got me set up right away, had me working in two days. they teach me a lot. >> reporter: the u.a.

diane eastabrook has details. >> reporter: group of eight leaders call forward measures to boost growth and lower debt in europe but offered no details on how to do it. they are leaving that up to the individual countrys to figure out, and that could be a challenge. european leaders signaled today there's still no consensus among them on how to solve the debt crisis. the clock is ticking for investors. they fear turmoil in greece could spread through the euro zone. french president hollande favors joinly issued bonds to favor economic growth. germany doesn't like that idea fearing the bonds could raise borrowing costs and discourage troubled countrys from getting their finances in order. leaders of the 27 euro zone countries meet in brussels on wednesday for an informal meeting. a summit follows at the end of june. diane eastabrook, nbr, chicago. >> tom: guido schulz is the global head of strategic management at afex. so the group of eight leaders say they want greece to stay in the euro zone, but are banks preparing even quietly for greece's possible exit from the europe currency? >> d

diane eastabrook has more. >> reporter: acting fdic chairman martin gruenberg told bankers in chicago the "big bank" strategy aims to help stabilize the nation's financial system, while preserving a failing bank's healthy subsidiaries. gruenberg says the fdic would operate a bridge holding company for those stable operations and spin it off later to a private firm. >> this would allow subsidiaries that are equity solvent and contribute to the franchise value of the firm to remain open and avoid the disruption that would likely accompany the closings. >> reporter: government regulators say the lehman brothers bankruptcy in 2008 triggered the banking crisis that led to the great recession. the dodd-frank act gave the fdic new authorities to resolve so-called systemically important financial institutions. gruenberg says that authority will help them reach across borders. >> when you are dealing with one of these large systemic companies they have extensive international operations, so you have to work with the foreign supervisors of the foreign operations of these firms, in addition to t