on mixed economic data. the stock index was down 0.2% on the day at 12re mellegard at the tokyo stocks bumpy ride topix.well. we've been f closely we or central banks that enough is. that's really -- officials said they are keeping a close eye thes other tryse yesterday cutting rates fo so quite a lot of foreign currency after t expected. but it was short lived and the yen curthe dollarhe euro maintains the expe >> as well. >> yeah. big news there.japan'sdensu will acquisitionsticales a maturity levels. really some expansion there especially in the advertising ctor. ramin, yahoo sathe perpetrators could use the released around 450,000 online.curity.g them to change passwords. this confid april it's attempt to restructure then in may board the chief executive offdegree. >>> all right. there have been no tokyo, karsai spoke need for pe components of most important of our respsibilities today. >> repor >> n't be peace unless the talk. we look into the >> reporter: getting the taliban to a conference table has p

can the markets remain resilient despite a bad economic data day? we'll go to steve forbes and art hogan trying to tell us what happens. coming up, hank paulson warns of dire consequences if congress doesn't fiiscal cliff. we'll show you what will happen step by step, give you a timeline. how bad is this massive tax hike really going to be? don't forget, free market capitalism is the best path to prosperity. mr. obama is fighting it. that's why his polls are going down. i don't spend money on gasoline. i don't have to use gas. i am probably going to the gas station about once a month. drive around town all the time doing errands and never ever have to fill up gas in the city. i very rarely put gas in my chevy volt. last time i was at a gas station was about...i would say... two months ago. the last time i went to the gas station must have been about three months ago. i go to the gas station such a small amount that i forget how to put gas in my car. ♪ >>> markets logged a three-day rally. the s&p hitting the best level since may. today the kou was u

some down both economic data boosting hopes of a fed move and then, also, a mixed bagf earnings results has all this affecting stocks here in tokyo? >> let's go straight to the indices and have a look for this friday morning in tokyo. and the nikkei and the topix down a third of a perd now 8,767 for the nikkei and 743 for the topix. in the u.s.,down existing home sales fell by 5.4%. that's the lowest in eight months. we had weekly jobless claims which comes out every thursday and that actually rose aittle bit more than alyst h expected. so based on those two bits of data, as well as the recent manufacturing, services and jobs data that we've had out of the u.s., the markets are figuring that the federal reserve may just have to take some extra measures at its next meeting to, perhaps, boost the u.s. economy. that's going to be a focus there as well. investors looking at a good performance in some hi-tech shares like ibm and that, also, helped to boost the sentiment so a bit of a mixed picture as well as economic data and earnings. bu nevertheless, in tokyo markets there's also a little

the planning department response to this oversight is to argue that this involves social and economic data that need not be examined. yes, it does. it also provides key information on the kind of housing that needs to be built, particularly the need for affordable housing in light of the housing needs of the expanded and reconfigured cpmc work force. such information goes to the size, nature, and location of the housing, which needs to be built. something which is very much a physical, environmental impact and not something that needs to be ignored. with this type of information, you, as the lead agency decision makers, are not in a position to determine efficiently whether the housing mitigation is in the proposed development agreement are reasonable. it is providing this kind of information, like transportation and pollution analysis, need to be an e.i.r. for you to be fully aware of the potential impacts and benefits. it is very important -- it is a very important basis on which to withhold, at this time, any certification of the eir. we will be back for rebuttal. we are available if yo

as i said in the united states we've had a batch of negative macro economic data and that's on manufacturing that has contracted in the month of june something we have not seen since mid two thousand and nine and therefore the dow jones is pressured moderately down point four percent nasdaq however those of territories are really still seeing the continuation of that rally from last week on the e.u. summit second to what's going on in europe and the markets they're up more than one percent one percent in the quarter actually that's as basically. after that e.u. summit the process of gaining access to bailout money now does not necessarily of quite bail out so that's a very positive mood over here in europe and we're seeing also barclays leading the gains in london after its chairman stepped down following that libel scandal we've been talking about and on the currency is market we're seeing the euro dropping well you would say on a normal day massively versus the dollar but given the huge jump we saw on friday this is basically a technical correction and russia's ruble is pretty much in line

ok so to conclude kevin disappointing economic data across the board and the markets are rallying let's see what it does now with and sure it will make it a day there and thanks for that kate in our exclusive interview coming up very shortly here in r t tonight with paraguay's new president who came to power controversially after his predecessor was ousted the big names talked to us on this chalice after a short break and a recap of the headlines next. in the long. haul. there hasn't been anything yet on t.v. . it is to get the maximum physical impact. before source material is what helps keep journalism on us when. we want to present. something else. one needs of spear trying to obtain inner peace and spirituality. craftsmanship and creativity requires special conditions or. ultimate accuracy and knowledge and the attribute some for some of the two would hear the war. those who are behind bars.

. >> let's ek up and down and talk about not only the economic data, the stock market, the dow jones is down 172 points. the third triple loss for the dow. a lot of devconversation on wha fed will do, and i'm just wondering what kind of swai this negative tick this has on the stocks. >> it's a factor. that was made a point several times. the level of the stock market he believes is critical to the health of the economy. i think there's a new thing out there and that's the strength in the euro. u.s. exports have been pressured in part i think by the weakening of the euro. i lagged it by two quarters and looked at the contribution of exports to gdp. over a long time it doesn't work, but the depreciating euro, and the u.s. corporate profits in theuati national accounts, y will see they have been under pressure right there beginning back several quarters ago. i think the market is smelling that. >> no doubt about it. rick santelli, i guess a 140 print doesn't do too much to help certainty in where we're going. >> no, safe harbors securities light treasuries are like apple. they don't rep

data? >> under ceqa, the impact report is focusing on physical impact. the social economic analysis is supposed to be a separate study. it is not connected to the eir. we look at housing issues, like more people using transportation, air quality issues and noise issues but we do not focus on the defined socio-economic data you are asking for. supervisor cohen: thank you. i'm done. president chiu: i was talking to supervisor wiener about his question around the fact we have used to this expert who has focused on the peak hour factor as the basis of many of our eir calculations. i happened to remember that the most recent gridlock study of different cities just came out and you are familiar with the fact that san francisco ranks number 2 in the country for gridlock. next to, if you know what city is number one, los angeles. as i told supervisor wiener, i know why we may have some much gridlock. [laughter] supervisor chu: as it relates to housing and the environmental document, the obligation is to analyze whether there is any physical impact if there is not adequate housing t

economic data. the whole focus is on non-farm payrolls coming up friday. the ism report came out yesterday, quite weak. we'll see if there's weakness in the non-farm friday. >> there is some talk we will probably see in the central european cutting rates on thursday. we have that to look for as well. >> that was the chatter among the traders and focusing on that along with the jobless numbers. coming into today's session, there were concerns there could be added weakness. what we saw instead was a little bit of short-covering going into the holiday as well as the ecb rate cut whether it will be on investors' minds when they return to work thursday. >> when we spoke with christine le garredd a few moments ago sa what was more important was the ecbe spanding asset program. and recovery points for the european debt crisis there. we'll see if in fact it's a rate cut we get thursday, asset purchase expansion or both. >> the markets are taking -- it was one of those perverse thoughts yesterday, ryan, maybe you can address that as well. the ism number was so week

then it's a raft of economic data, consumer data, housing data and allstate will report after the closee short is a senior manager at s&p capital iq. welcome back to the program. what are the headlines for second quarter earnings seasons so far? >> we're still really expected a weak corporate earnings season, right now we're down -- at s&p capital iq is down about 2.2% for year-over-year growth. a couple of weeks ago we looked at negative growth of 2%. we have improved since then and had a flurry of positive corporate earnings reports. of the 300 companies that have reported, about 67% have beat earnings. i think that's better than anyone has expected for this quarter. it's higher than the historical average of 62% of companies beating earnings. where corporations really fail this quarter is on top line growth we have 40 companies beating growth numbers in comparison to an average of 2%. we are seeing weakness in that area. >> when are other periods with weakness? when do they happen and what are the implications? >> we haven't seen this weakness in earnings growth since the first quart

seventh sitting in their former red sox and hoss was to aboard that is nice home run for one day's economic dataond inning. quite the opposite. tara parker allowed is one run in six cities nonsense the grades attorney from 1913 to 1917 in hollywood is this kind of pitching for major leaguer the a's are 6 to one where there is what does an nba rookie do and is first in town? the warriors topic harrison burns has an idea. did we to six brands and all. and earlier today the word warrior is introduced his picture and mondegreens the media. he was the warriors' seventh pick in an adult's nigeria. he was a video cordwainer in junior college and now all in the nba. >>> it was a lot of stuff is going on. i was rolling around. roll around house to look at its thinking was crazy and i was crying laughing i was excited. i was more excited for my family. did with former giant jeff kent is the coming to a rabid as the hot rumor straight to the source he stars the top five. survivors true? did we never watch the show for a long time and it's i'm going to watch it comes to december deceive them on there. it's

that's the economic data. steve liesman working on that. but first, to the euro zone crisis and michelle caruso-cabrera. >> tyler, we saw the european stock markets sharply lower today. they also moved off the lows like the u.s. did. however, really deep selling, especially in greece today. and we've seen deep, deep selling in both spanish treasuries and also now italian treasuries, as well. seeing the yields rise very sharply and once again investors apparently abandoning the debt of those countries. two key reasons that a lot of folks are focusing in on. why would this be happening when a bank bailout for spain was approved just last week? this bailout was supposed to separate the sovereign risk, ie the country risk from the bank risk. in other words, the money given to go to banks, wouldn't add to the spanish gdp to debt ratio but reading through all the paperwork, spain will still be on the hook for that money. so whether it's part of the debt, traders are well aware they could owe it additionally seeing more of the regions raising thei

i think that what turns this around is better economic data. we had a combination of worst news out of europe, worse news on the economies and we think the that the chinese economy is bottoming. the news on the u.s. is likely to get better. >> what's your time frame? >> next couple of years. what i would say is i heard your last segment here talking about let's wait for qe. you don't want qe. because the way not to get qe is for the economy to pick up a little better and you see these labor market numbers get a little bet person the fed is not going do anything in august. but i think if the economy is not bet are by the september meeting you will see the fed do qe. i don't think that's necessarily a good thing. fed actions are having increasingly less effect as they keep going. what you want to see is the economy doing better so the fed does haven't to do qe. >> right. i tend to agree with that. negative psychological impact. fed is at a stage it has to step in. people will ask how bad is it out there. i want to ask you, where do you think we w

. >> disappointing economic data from the eurozone seemed to be endless. italy is getting deeper into debt since spain's economy is strained by its weak banks. more and more, the euro virus is spreading over to germany. this was a burden for traders in the currency market. deaths and euro have been falling, but traders hoped the european central bank has the right remedy to lower interest rates in order to make loans cheaper -- debt and euro have been falling. investors still have confidence because of high demand for german bonds despite the low rate. >> let's get a closer look at those market figures for you. the dax was lower fractionally their. -- there. investors are in a wait-and-see mode ahead of the eurozone meeting next week. the euro trading for $1.2533. markets are closed for the independence day holiday in the u.s. he says that he is sorry, disappointed, and also angry. those are the words of barclays's ceo bob diamond as he testified before a u.k. parliamentary committee on wednesday. >> his company has been accused of manipulating the london-

weak economic data from the german and u.s. industry. rkets hoped to get another cash injection from their central banks. >> let's take a closer look at that market data. we stick in frankfurt, where the dax was higher on the the day, 1.25% higher. the euro stoxx 50 had a similar trend. in new york, trading still under way for the dow jones industrial average, and it is in negative territory. as for the euro, declining against the dollar, $1.2579. the european central bank has issued a warning to greece, the the country should not waste time trying to renegotiate its international bailout. >> but that is what the newly elected greek prime minister antonis samaras and his coalition government are busy trying to do. samaras is under huge public pressure to delude the tough austerity measures that have helped keep greece mired in recession. >> on monday, is coalition was huddled in talks to figure out their plan. >> the new government of greece is hard at work, preparing for negotiations with its international benefactors. minister is what t

ramin, we have some economic data here in japan, but give us a breakdown as well on the effects of apple's earnings results and the eurozone bond yields. >> yes, thank you very much, ai. we did have some trade balance numbers before the markets opened. let's have a look at those and a little bit of a surprise there showing a surplus, the first time in three months of deficits, a surplus of $791 million, and a lot of market analysts were expecting a deficit, so that's a little bit of a turn. let's see how the nikkei and the topix are kicking off this wednesday. it's pretty clear the market's taking more of a direction from the eurozone debt issues and we're seeing the nikkei down over 1%, 8,394, so we've broken below 8,400. yesterday we were talking about breaking below 8,500 so that's another level to deal with. topix 710, renewed concerns about greece and continuing high bond yields in spain and italy is setting off alarm bells yet again and market players here are concerned about the effects on global markets, as we're clearly seeing here at the open. earnings from apple as you also ment

. >>> stocks reveled to stay out of the red monday after some sobering economic data. news that u.s. manufacturing shrank for the first time in nearly three years raised red flags about the economic recovery. the slide raised more hope about the stimulus down the road, but industrial stocks still took a beating. best buy jumped 6% on reports its founder is nearing a deal to take the company private. amylin pharmaceuticals rose 9% after bristol-myers squibb agreed to buy it for $5.3 billion. and dell won its $2.4 billion bid to acquire software maker quest. >>> meanwhile drug client glaxosmithklein agreed to pay $3 billion, the largest fine ever in a health care fraud case, for years of illegal practices, including kickbacks, false advertising, and failure to warn of health risks. >>> elsewhere microsoft admitted more than $6 billion it spent buying an online ad company that basically went to waste. >>> barclays' chief bob diamond has resigned in the wake of an interest rate rigging scandal that caused the bank's chairman to step down yesterday. >>> a little good news if

. >>> stocks struggled to stay out of the redmond after some sobering economic data. news that u.s.anufacturing shrank. industrial stocks took a beating. best buy jumped 6% on reports that its founder is nearing a deal to take the company private. and am blend pharmaceutical rose after bristol myers agreed to buy it. dow won it's bid to acquire software maker quest. drug giant glaxosmithkline agreed to pay $3 billion the largest fine ever in a health care fraud case for years illegal practices including kickbacks, soft advertising and failure to warn of health risks. >>> elsewhere microsoft admitted more than $6 billion it spent buying an ad company went to waste. >> barclay's chief resigned in the wake of an interest rigging case. >>> a little good news if you're getting away by car for the fourth. gas prices are 22 cents cheaper than last year at around $3.35 a gallon. >>> speaking of getting away, 51% of executives are not checking in with the office while on vacation. back in 2010 only 26% went offline while away. >>> finally forget about bake sales one pennsylvania high school

vanguard known for its low cost, passively managed funds, how much attention do you pay to individual economic data like a jobs number, and does that dictate money moving into etf's or this other money marketet? >> you know i don't really see too much quick movement based on an economic number. what we do see is money tending to move when performance picks up. so we have actually seen very good cash flow into our etfs this year. it has been maybe a little less than half of our overall cash flow. so it has been a positive environment. the good news is, it is going into both equities and into bonds, i would note that by and large they are going for higher yielding equities. and that is a little bit of a concern. >> let me ask youbout the second half of the year, we h a choppy first half of the year. whato you see happening as we kick off the second half of the year, with the economic uncertainty there? >> well, as i think you said, the economic uncertainty will determine what happens the second half of the year. it is really impossible to predict right now. i think what the response is coming o out o

. >> susie: those strong tech earnings helped propel the nasdaq higher, despite the lackluster economic data that we saw earlier today. in the broader market, the s&p climbed to a 2.5 month high. apart from the tech sector, material stocks also moved higher. the weakest group was telecom services. shares of apple, a heavily- weighted part of the nasdaq, surged to 3.5 month high. quarterly earnings for the tech darling are due out tuesday after the closing bell. apple ended the session up just over 1% to $614, it's highest close since april. ibm helped support the dow. investors snapped up shares of big blue following last night's profit report. ibm stock tacked on $7 to close at $195 and change. another big winner today was drugstore chain walgreens. it struck a deal with express scripts, settling a dispute that's been going on since january. >> there are those customers who do want the convenience of being able to go to the 8,000 walgreens stores, so therefore express scripts also agreed to do the deal. the terms were not announced. the financial terms were not announced, but we assume that

the slower economic data here and abroad in the past few weeks has brought multi-national industrialnd manufacturing companies in focus. these three industrial companies are scheduled to report earnings this week. ingersol-rand reports friday. shares fell 3.2% today, leading the industrial sector lower. on wednesday dover corporation reports earnings. shares fell 2.7%. and general electric turns in its latest financial report card friday. shares were almost 1% lower today. morgan stanley cut its rating to equal-weight for g.e. today, but said it is not in anticipation of friday's results. two deals are cooking in the drug business. the first has glaxo-smithkline raising its offer from human genome sciences. glaxo increased its bid to $14.25 per share for h.g.s.i. the deal's total value is $3.6 billion. human genome rejected the initial, lower offer. human genome shares up 4.5% to close just before the buyout offer. the pop in april was when glaxo made its first offer. u.s. shares of the buyer glaxo- smithkline moved fractionally higher. g.s.k. gets human genome's lupus treatment and

what it could be is, say, the economic data becoming less negative in the months ahead.x is now starting to become less negative. and don't forget, markets can start to rally not on positive economic news but just on the economic data becoming less bad. >> sorry? >> we're looking at the el muno on the wires right now. >> geoff lewis, appreciate your time and thoughts this morning. if i'm a bit distracted, pretty extraordinary comments we're seeing from the eu's anti-competitiveness -- eu's competition chief. he wouldn't be anti-competition. he would be for competition. in any case, he's looking into, quote, suspected cartel arrangements involving financial derivatives that were linked to libor including possible collusion. that's what really caught my attention from the eu chief there. okay. >>> now we're going to take a look at jpmorgan. a quick reminder as we wait for the company to report earnings just in a couple of hours' time. as to when and how this whole difficulty with its trading operation first began. it goes back to april 5th. that was when news of the london

. >> traders in frankfurt in not argue that had to deal with very disappointing economic data. the u.s. job market does not make any progress, the jobless rate from inside while not enough new jobs were created. the head of the international monetary fund even painted a very gloomy picture of the economy worldwide. leading to a bad mood on the frankfurt for the dax fell sharply and the euro was heavily under pressure. the only bright spot came from the german economy. the industry -- this cannot consult anybody. >> let's get a closer look at the closing numbers. we stay in frankfurt, where it was not a pretty day for the dax, down by about 2%. the euro stoxx 50 down. the dow jones industrial average is down by about 1.25%. the euro losing ground against the dollar, trading for $1.2269. >> italy has approved 4.5 billion euros in spending cuts. the government is looking to cut one in 10 public sector jobs. >> it is the latest in a round of austerity measures that have led to a series of strikes. on friday, a public transport workers' strike in rome brought bus and subway service

no economic data today but we get earnings from at&t, dupont and apple.he dow losing 101 to 12,721, yesterday the nasdaq falling 35 to 2890, hopefully if these futures stay in the red we'll be able to climb out from those lows again today. back to you. >> thank you very much. >> there is no secret the economy may be sluggish but in some bay area counties home values finally bouncing back. a new report out from real estate tracker zillow shows four counties have gone up. san francisco, leading the charge, increasing 4.7% to $680,000. santa clara county up more than 3.4%, that's $575,000. san mateo and alameda counties seeing increases but well, not all good news. solano county home values down more than 3%. >> the taxes are going to probably creep up too. i want to check the forecast with meteorologist christina loren. >> temperatures are down today which is good news for the hot folks, the inland folks. i'm talking about livermore, concord, pleasanton. i could go on all day. we're looking pretty good. the good news is we're going to continue this througho

farms that are investing in russia last week capital outflows for a third month in a row weak economic data have been and corn prices ended last week of record highs as drought in the united states continues to devastate crops the organization of economic development was high food prices are here to stay in fact you can expect to pay twenty percent more for your average meal over the next decade. global food up will be hollowed calling instead for increased productivity ortiz tom bolton has been figuring out how to achieve that. we're talking about the future of food so why is precisely how i decided to come to a chicken farm well if you want an insight into the future of food in the coming decade you could do a lot worse than come to a place like this the o.e.c.d. and the food and agriculture organization have published an outlook of the future of the world food market in the next ten years the main themes of that report supply and demand sounds boring but both of those undergo major changes first of all demand the world's population is still increasing combine that with the vast increases

weak economic data and the world's super rich up to thirty two trillion dollars in offshore havens according to a new report shows the size of america's and china's economies combined it employs pay tax of two hundred eighty billion christensen from tax justice network which published the report he explains. some that money actually did return to these countries now some cases it does but it comes back dressed up with direct investment with all the tax breaks that it. comes with foreign direct investment this is a process known as round tripping which happens a lot of cement in many countries like brazil india a lot of the indian and brazilian cavalry has moved offshore tax havens and comes out disguised behind offshore companies so it's not clear that the world's originated with from india or brazil in the first place. but certainly a very large proportion of this capital doesn't come back into productive investment much of it goes around chasing speculative investments on the equity markets of the securities markets to the commodity markets and sometimes real estate markets in europe and n

tom: another month of lackluster job growth soured the market, capping a week of disappointing economic data and stock performance. here's what the major stock indices did this week. the dow industrials fell 0.8%. the nasdaq dropped just 0.1%. the s&p 500 is 0.6% lower today compared to a week ago. the week's losses came today as the s&p 500 fell from the opening bell after the disappointing jobs data. rising government bond yields in spain also cast a shadow of worry over the market. the lowest level of the day was hit about 90 minutes before the closing bell. volume fell on the big board, down to 595 million. 1.4 billion shares on the nasdaq. all ten major stock sectors were lower to end the week. the tech sector suffered the worst selling, down 1.8%. the economically sensitive industrials and materials sector fell more than 1% each. even big tech stocks provided no relief today. those doing big business in europe were especially hit by selling. hewlett packard's 3.5% drop was the biggest among dow industrial components, taking it back below $20 per share. big blue saw red. i.b.m. fell 2%