bank stocks rallied today, and they gave a boost to the dow. behind the move, tom, new global banking rules agreed to over the weekend in basel, switzerland. the requirements aim to prevent financial crises in the future, and to make the global banking system safer. >> tom: the most critical reform, susie, is a rule requiring banks to raise their capital cushion. in some cases, banks will triple the funds on reserve. many american banks already meet these standards, but european firms may need to raise more money. regulators around the world have been wrangling over these so- called basel reforms since last year. >> susie: now that the deal is done, suzanne pratt reports banks can try to get back to business. >> reporter: the collective sigh of relief was almost audible on wall street today, and in the offices of many u.s. banks. not only are the new capital standards looser than expected, but there's nearly a ten-year phase-in-- considered an eternity in the marketplace. experts say the so-called basel 3 requirements eliminate some uncertainty

caterpillar was the best performing dow component this month, up almost 21%. alcoa was up more than 18%. its earnings are due out in a week. and home depot rounded out the best three with a 14% gain in september. and that is tonight's "market focus." >> susie: expect to keep paying 44 cents for first class stamps next year. the postal service wanted to increase the rate by two cents beginning in january, but today, the independent panel that oversees the post office denied that request. the reason? the postal regulatory commission said the requested rate hike was not due to the recent recession. instead, it was an attempt to address long-term problems like retiree health benefits. the postal service hasn't commented. here's what we're watching for tomorrow: our friday "market monitor" guest is gerald buetow, chief investment officer at innealta capital. also, the august reports on construction spending and personal income come out, along with september's auto sales. and speaking of cars, it's one of this years most hyped models, but can the small chevy cruze g

the dow jumped almost 200 points. the nasdaq added 54 and the s&p 500 rose 24. those indexes were up roughly 2% each. these are four month highs for the indices. today's gains came on heavierina billion shares on the big board and over two billion on the nasdaq. >> susie: the dow is up more than 8% for the month, the best september gain in 70 years. s&p's chief investment strategist sam stovall says investors are less worried about the u.s. slipping into another recession. >> we're getting better than expected economic data which is making investors believe that we are now moving further and further from the deflation and double digit precipice and as a result that pushed share prices out of the 100 point range we've been experienced since april of this year and now i believe from a technical perspective we're going to challenge that april 23rd high. >> susie: while stocks are having a break out september, the housing market remains stalled. fewer new homes were sold than expected in august, confirming that housing has yet to recover. purchases were unchanged, m

morgan led the way for the dow industrials, up more than 2.5%. fellow bank goldman sachs jumped more than 5% on twice its usual volume. mutual fund investment company janus capital led the sector, up almost 7%. even though the housing market remains a concern, among the financial stocks seeing green today were mortgage insurance companies. the p.m.i. group added almost 10%. s&p equity rates the stock a "sell," that's an improvement from its previous "strong sell" recommendation. m.g.i.c. helped by reporting a 9% rise last month in its mortgage insurance business. shares jumped more than 7%. radian group came along, up 5.5%. soup was not good news for campbell's. soup sales are still dropping, even though earnings were up. its quarterly results were three cents better than estimates, but revenues fell thanks to more promotional spending. shares fell more than 3%. volume was heavy, about twice what it usually is for c-p-b. while we have food in focus, corn prices jumped to a two-year high. a year ago, corn was around $3.60 a bushel. today, it settl

the dow rose 50 points, the nasdaq added 23 points and the s&p 500 up nearly 10 points. volume was light, falling below one billion on the big board and fewer than two billion on the nasdaq. the number of people filing first-time claims for jobless benefits fell for the second straight week, down by 6,000 to a seasonally adjusted 472,000. consumers took advantage of back-to-school sales and tax- free holidays last month. the result was better-than- expected sales gains for some retailers. department stores like macy's, kohl's and j.c. penney beat estimates. but, a mixed bag for teen retailers and discount stores. aeropostale had weak results and missed target estimates. tom will have more on the retailers coming up in tonight's "market focus." there's been another oil rig explosion in the gulf of mexico. 13 workers were forced overboard, all of them were rescued. and the fire on the mariner energy platform has been put out. the company says no oil or gas was spilled. >> susie: still ahead, does age matter when you're a c.e.o.? we'll look at why experienced leaders like w

matt schaub hooks up with andre johnson, overreads dow dee for the game-tieing touchdown. hall said was not surprised dow dee failed to make the play and that he would cover the top receiver. today both dow dee and haslet responded. >> he said what we already know, so i don't think it bothers anybody on the defense. i think it sounds like a shock because it seems like a slight to the other guys on the team, but it's not. >> i give them all the credit for saying that. i think at the's playing at a hey level. i think there is times when you can do that. there's times that you can't. >> yesterday the redskins cut running back larry johnson, citing a need to add a special teams player for this week's game against the rams. johnson rushed only five times for two yards in two games. chad simpson was added to fill johnson's roster spot. >> i really didn't see that coming, and i don't think anyone saw that coming. especially when you are trying to get things going in the running game with the running back of his caliber and the things he's been able to do and what we wanted to do

the dow added five points, the nasdaq lost six, and the s&p 500 edged up a fraction. volume climbed a bit from yesterday's pace-- 1.4 billion shares on the big board and 2.1 billion on the nasdaq. minutes from the fed's latest policy meeting show some members think the central bank should provide more support if the economy weakens further. fed officials eventually agreed to reinvest the proceeds from their huge mortgage bond portfolio into treasuries. single family homes in major cities saw a modest price increase in june. the s&p/case shiller home price index rose 1% from may. but economists warn the bounce was likely due to the final days of the home buyer tax credit. they see prices falling in coming months. despite that gloomy prediction, a key measure of morale is creeping up. the conference board's consumer confidence index rose a bit to 53.5 this month. a reading of 90 indicates a healthy economy, so overall, most americans still feel apprehensive about things. still ahead, the outlook for the airline industry. will carriers continue to fly high this fall? >>

let's get you cisco is the last dow component not paying a dividend. the dividend talk helped the technology sector lead the way. hewlett-packard put in the best performance among dow components, adding 2.6%. speculation is increasing about the naming of a new c.e.o. meantime, one of h-p's biggest competitors took a swing at its buyout strategy. i.b.m. c.e.o. sam palmisano tells "the wall street journal" h-p had no choice but to buy cloud computing firm 3-par, saying former c.e.o. mark hurd "cut out all the research and development." big blue stock was fractionally weaker today. speaking of acquisitions, the market is speculating on the next buyout in tech. that talk was focused on rad- ware today. it makes internet equipment. shares jumped 38% on huge volume with rumors about it being a possible candidate for either i.b.m. or hewlett-packard. from cisco's dividend to gold-- that was the other big story for investors. gold hit a new record high. the new high is just below $1,272 per ounce. a survey regarding europe's biggest economy, germany, was disap

the dow surged more than 250 points-- 2.5%-- its best one-day gain since early july. a key manufacturing index showed american factories were working harder in august than a month earlier. the institute for supply management's index rose to 56.3 management's index rose to 56.3 from 55.5 in july, higher than forecast. a reading above 50 indicates growth. this index has been up for 13 straight months. >> susie: still, the big worry for everyone? the weak job market. private payroll firm a.d.p. reported 10,000 fewer jobs last month. the government report comes out friday, and many people are hoping washington will come to the rescue with another plan to boost hiring. washington bureau chief darren gersh reports. >> reporter: spoiler alert! if you are looking for congress to come back from summer break rested and ready to pass a big plan to keep the economy on track, don't listen to what andy lapperiere has to say. >> in terms of getting some real action out of congress that's going to have a big impact on the economy, i think that is pretty unlikely. >> reporter: unlikel

the dow is up over 232 points.ited incontinent airlines for their merger deal. combining the companies would allow them to better serve five the industry, and insist that the merger would not lead to higher fares reduce services. the companies are trying to ward off an antitrust lawsuit. passengers on the preliminary injunction to block the merger because they feel that there will be higher fares and decrease service several result from this service. >> more after this break a live look outside, to the golden gate bridge for traffic is moving smoothly. beautiful looking day with light wind, the bay is looking very, now. the most powerful half-ton crew in america has a powertrain backed for 100,000 miles. chevy silverado half-ton a consumers digest best buy and the most dependable, longest-lasting full-size pickups on the road. now get 0% apr for 72 months on 2010 silverado half-ton models with an average finance savings around $5,800. hey, at&t u-verse tv? yeah, it's our new tv service. every day thousands of custo

three of the five biggest losers of the dow industrials were financial stocks. american express dropped 1.5% on light volume. j.p. morgan fell more than 1% to a three-week low. and bank of america fell. about 1%. a.i.g., meantime, saw a fractional gain, but on twice its usual volume. a couple of items for a.i.g. the company's board is finishing up its plan to repay the government bailout. this plan includes converting uncle sam's preferred stock to common stock, which would increase the government's ownership to more than 90%. the government would then slowly sell its stock. according to the "wall street journal," the government's common stock would be priced $35 per share. with today's closing price of over $37, that would be a profit. secondly, a.i.g. is close to selling two japanese units to prudential for $4.8 billion. an announcement may come as soon as tomorrow. with all the fed talk lately about efforts to reignite the economy, and congress stepping up pressure on china over its currency, we've seen the dollar resume its move down. this e.t.f. follows the

morgan was among the weakest in the dow industrials, slipping 2%. while the broad market was able to hit multi-month highs earlier this week, j.p. morgan stock did not break out of its most recent range before turning lower. also among dow components, the golden arches increased its quarterly dividend for the fourth straight year to 61 cents per share. the stock dropped fractionally, but still remains less than $2 away from its all-time high hit earlier this month. for-profit education companies found buyers. tomorrow, the department of education will release its timeline for final regulations on student loan repayment rules. among those rallying, capella education, corinthian colleges, and career education, each up on at least twice their usual volume. the government is putting together new regulations aimed at ensuring students at for- profit schools don't graduate into low-paying careers with big student loans. those schools with poor loan repayment rates may face penalties. you may not think of "washington post" as a for-profit education company

taking a look at the numbers, the dow closed up 127 points.q tacked on 33. >>> september is national coupon month and a study shows americans are using them more than in the past. the growth looks to build on a record-breaking trend. last year companies handed out 311 billion coupons between circulars and the internet. and tech-savvy consumers are using them about 23% more often. >>> delta airlines plans to upgrade seats on some planes starting next summer and wrapping up the project by summer of 2012. the business elite and economy cabins will be getting the overhaul with more personal space and storage as well as on demand entertainment. >>> football season always means big business, but now restaurants and bars are cashing in on the fantasy world. many places are offering everything from free food to gift cards to lure fans in for draft parties where attendees choose their favorite players to make up the ultimate fantasy team. >>> and that's your "moneywatch" report. for more business headlines, click on cbsmoneywatch.com. in new york, i'm

we are back with martin vaughan of dow jones and kim dickson of reuters. we have been talking about tax policy with the assistant treasury secretary. martin vaughan, did he say anything that was off message? >> not a lot. i think his answers underscored the dozens of uncertainties that there are out there in terms of whether -- of where the tax cut is going. we asked him what was going to be done about the estate tax? what will be done about the top rates? how will you handle the dividend tax? how will the stimulus proposals be paid? his answer to almost all of them was, we are working on that and we need to work with congress. we are so much into -- so much of the tax code is in the air, even the administration and the people in charge in congress to not have a handle on how they will move for on this. >> i agree. one of the interesting things i think to point out is that almost every question about certain policy is how it will be paid for. it ties his hands to a certain extent because congress needs to develop a that. the administration has put out a bu

the dow down 21 points to close at 10,739 and the nasdaq down 15 points to close at 2334.t rob black with the now what happened in the stock market today? >> were starting to get extended and a little toppy. it's the high end of the trading range and traders made a bet today we probably are going to get much higher than this. the economic news it was a weak side from adobe talking about the fourth quarter. back to 10,000 on the dow and back to stay in this trading range. >> we need a little correction. >> september is all about one in a percent until yesterday afternoon that the glorious month that's unattainable and unsustainable. the book some wins the one vacation by a vote bycar. >> using 10,000 is healthy don't you? >> until we see a pickup in employment or corporate america far more people if they do far more people that would mean they have more profits. we need guts need something a little more dated to lead us to the positive. one of the things they said is inflation is too low. yet the car economy to lead to caught you know what to cold. he won a little inflation

the dow opened 10,860. the s&p rose 10 points and the nasdaq added 54. in tokyo the nikkei rose 130 points while in hong kong the hang seng jumped to 121. >>> the dow on ack for its best september since 1954. the big question will this month's surge continue for a fourth straight week. the answer lies which way the economic data swings. 'll get an update on consumer confidence and spending and a fresh look at home pces. auto data seams for september is also due and should be a little higher this month. coming up on thursday, wall street will get another reading on just how ch the economy grew in the sond quarter with another look at gross domestic pruct. >>> treasury secretary tim geithner will be meeting for the first time this week. the goal will be to find ways for fiscal responsibility and financial reform. >>> hyundai has issued a voluntary recall of40,000 sedan over potential steering issues. >>> asian license insuranc will rn a profit of at least $30 billion this fiscal year. ai gi is spir aig is spinning off its balance to help with the bail out.

the dow opens at 10,739 after loogz 21 points yesterday. the s&p lost 12 points and the nasdaq dropped 14. taking a look at overseas trading this morning, in tokyo, the nikkei sank 35 points, but in hong kong, the hang seng added 45. >>> investors put faith in the fed yesterday and placed their betts on the bond market. traders took the central bank's boost that it could step up its bond purchasing program down the road. meanwhile, gold prices hit yet another report high. elsewhere in metals, alcoa surchblged 5% helping the dow jau set the day's losses. tech stocks took a beating after adobe systems plunged 19% in the wake of a weak revenue forecast. microsoft shares took a hit after the company said it would up its quarterly dividend for the first time in two years, but apparently not as much as some had expected. >>> this morning's "wall street journal" warns blockbuster video could warrant protection in a deal to keep some stores open. >>> a month after starbuck's said it would absorb the high cost of coffee, up to a 13-year high, it say

elsewhere in metals, alcoa surchblged 5% helping the dow jau set the day's losses. tech stocks took a beating after adobe systems plued 19% in the wake of a weak revenue forecast. microsoft shares took a hit after the company said it would up its quarterly dividend f the first time in two years, but apparently not as much as some had expected. >>> this morning's "wall street journal" warns blockbust video could warrant protection in a deal to keep some stores open. >>> a month after starbuck's said it would absorb the high cost of coffee, up to a 13-year high, it says it will raise the priet price of larger and more expensive drinks. >>> facebook ceo mark zuckerberg is donated $100 million to help improve new york, new jers newa jersey schools. he comes in at number 35 on the list ts year of the 400 richest americans. numbers one and two are the same as last year, billionaire buddies bill gates and warren buffett. >>> the rays save faith, the bills sweep the braves. plus, three is the magic number for jose lopez. your early morning sports headlines are straight ahea

dow off more than 50.3 now in pre-market trading. very little in the way of economic data.t prepares for policy-setting session this month jobless claims coming out thursday with figures. on friday wholesale inventory will be reported. opening numbers in 18 minutes. president barack obama will call for new tax breaks to allow businesses to write off 100 percent of the new capital investments through next year. the latest plan would save two under billion dollars in taxes over two years alone companies tap more cash on hand. the latest in a package of economic proposals the president is announcing in hopes of jump starting >>oracle corp has hired mark hurd, the former chief executive of hewlett-packard co who resigned amid a scandal.mr. hurd, a close friend of oracle ceo larry ellison will replace charles phillips, who has resigned. mr. hurd resigned from hp on august 6, after a probe into sexual harassment allegations. 613 right now we will be back with more of a couple of minutes. cool temperatures settle in today we start our cool down. a lot lot shot of san francisco clo