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paul kangas is off tonight this is "nigly business report" for esday, july 14. "nightly biness report" is made possible by: this programas made possible by contributions to ur pbs statiofrom viewers like you. thank you. captioning sponsored by bt >> sus: good evening, everyone. one of tse "green shoots" may be sprouting in the techector. late tay, chip maker intel rolled o much better than expectedecond quarter earnings, but re importantly, the company had a surprisily upbeat outlook for t second half of e year. exuding a one-time charge for a fine by the eupean union, intel earned 18 nts a share in the quter, ten cents more than expected. thmicrochip giant said it expected improved condions in the comper market, a sign analts took as encouraging. sty smith, intel's chief financiaofficer says the numbers tell a sol story. >> you can seet at the top line-- ua billion dollars. you can see it at thgross margins-- up five points quarter on quart. our inventory vels are down, so i'm real pleased th the execution from the comny. and then as we go intohe second half, w

so any ouoor activiti, y to them ne is weeken monday, esday, wednesday, all the way through into thenof next ek. havthe re shower and thunderss ea afternoon. mperatures aren't bato art ofthroughoutthe week. t bye time we get to t d the week, th are real heatg up. it's going to ve comfortable time we hithuray a id. to you. >> l right, ts,san. >>> toyour heal tonigh mommies to-be ing the pos d tang up wa aerobi, ng tt it will hethpreparfor la without epidural. inctoride expectt therthugan hour imct m, concentrg on thmuscs thatwrapnd the omach. know at i'm exhausd when i get out e water, but i feelfine the day. i do feel li i t a workt. but whi'm doitit's not rd aall. >> if u don'work out be the , yocan't the . ou do, en u're in controof ybed and e mu structurwhilu' pushg that baby out so yes, it will a little b easier. >>so docto say the buoyan the tefeel good on the won's body, comparg itthery for their joints a their muses. >>> u kn, ny websites are heinpeop achievthei fitness gos byhelping them keep tck online. we live our liveonline the , buyila ck pangills. so whnot fitness? we ae

on the enomic calendar: nday, june new home sales; esday, the case-shiller home price index fomay, and the conference board's jy consumer confidce index; wednesday, we'llee june orders for durable goods d the fed's beigbook; thursday, weekly jobless clas; and frid, it's the first look at second-quarter gross mestic product,nd the second quarter's employment cosindex. >> pl: my guest market monitor this weeis frank cochrane, president of iestment timing consultants, a financial advisory firm based in bloomfield hls, michigan. frank, welcome bacto "nightly buness report." >>reat to be here, paul, thank you. >>aul: is the stock mket's sharp run-off justified by recent signs of onomic recovery, the green shutes they call them? >> short-term, paul, i would say "n i'm somewhat negativfor the outlook fo the next few wes sohe market is discounting much stronger earnings. the earnings that came out we so low, i thin a snail could have jumped over them, the ba in that sense. the credit will comeack. the consumers will start spending i reay don't see that t there. i think sically the market came

they have run up far thankfully i not short of ruby esday. >> it is the emergg theme that driving these earnings. by tueay expanding in the middle east right w, that has en a revenue driver for them. >> were you here theay we had the bucket of icken? >> n thank god. >> i was. i ate someof that chicken. >> yum,r favorite stock. e of your favorites. >> kf since 1972. i rememberhe day >> therilled chicken we ha let's ve on here. >>> nextrade, before earnings season starts on wednesday with alcoa, ould you follow th? brian everby, great have you ck with us. >> great to be here. >> the thesis here that is convtional wisdom is earnings season wl be aolutely dis mall. how do y position yourself? >> as far as wt see going on in e marks, i see much more beash signs leading in than bullish. wee had a 35% gains from the march bottoms. obvisly, some people think th we overshotn theupside. to galg with that, ifou look at the chart in the s&p 500 index, the one with the 35% gain, we're seeing a head-and-shoulrs patrn that forming. and actually think if we go to that 870 level, i don't ink we'll stop.

of new investigatation,ndnde have some details thisisororni about the meririal service taking place esday athehe stapless it are in los ngngel. nbc's m miguealaguer r isivive outside theacacks family compound andnd msnbc.com's courtntneyhhaztt outside l.a., a church hololdi a a memoriri service later onontoday. miguel we stararwiwith you firs. let's get thelatest othe new invevestigioioinvolving jackson's ththe e yog children. what are youhearing? r rorter: alex,ss you know, "a"accss hollllooood" is r rortg the ls s geles couount dedertrtme of family and cldld services i is cducting an investigation into t the welfar of m mhahaelacacon's three children, who arar12, 11 a and years old. 'r're ld this i ivestigation wawariggered cacae he drdrugfound insidee micelel jasoson'home. investigators willll taltotohe childrdrenndnd a them what it walili living wiith the kingg of pop, as well as if theyvever saw y drug usenside his home. investigators will a al likely cocome tththjackson c comunund lk toatherine jackson a als as parart o their inststigion. >> okaka andhh infnfortition certainly y ini

let's see if it happens on esday. courtney hazlett,hanks so much. go get breat. >> reporter: thank you >>> for more on howhe jackson family is coping since the sudden death, i lked to reverend al sharpton ts morning. >> yeah absolutely, heartbroke but strong. i visited with mr. and mrs. jackson again on yesterday. at the cpod in encino, talked to several of the brothers. and i think that they're determinto moverward to tuesdas memorial toeally ise the real historic contribution that miael made and to give h the kindf dignitand the kind of respect that he deserves. >>> epit right here forpecial live cerage of michael jackson's memorl service. it will be all day tueay on msnbc. >>> it was a test of couge, and thensome, a tightrope walker g for a death-defying walk. but was it his last evening stroll? that is coming up. > and it's the freeway to holiday lebrations, butre americans keeping to the fourth of july traveling tradion? [ door clos s ] [ footsteps ] [ man sighs ] whew! lot goes through your mimind after an acciden but with liberty mua insuranc

it gets here for monday and esday. that's when we can see some showers and thunderstorms.en, for today, mostly sunny, mild. low humidity. temperatures, yes. nice. mid 80s. so all in all, looks like a great day today. tomorrow, just as nice. just a bit cooler tomorrow. 84 degrees. and then on monday and tuesday, a little bit cooler as we start to see more clouds move into the area. we'll start to see some showers and thunderstorms. not a washout but showers and storms not out of the question. and then the pattern changes. look at that. humidity says it right there. believe it. humidity returns. come the end of the week. >> a more typical day. >> more typical washington july weather. >>> in sports tom watson remains hot at the british open and the nationals remain at the bottom of the major league under a new manager. >>> good morning everyone. well, since the firing of manny acta, they have yet to produce results. the nats have faced two of the best pitchers in the game on back-to-back nights. last night the cubs' ace carlos zambrano. we start in the bottom of the first, fa

keep it here on esday.awk"s ming right back. >>> welcome back to "squawk box" on cnbc, first in business worldwide. we are just one hour away from the opening bell. our guest host former new york governor george pataki. he is with us for the rest of the hour. we've been talking about lots of things but right now let's take a very quick look at the markets. yesterday there was a selloff. talking about futures above fair value but just barely. dow futures up 11 points above fair value. this comes after a day when the mark, dow at least down to the lowest closing level we've seen all the way back to april. rick santelli and rich berg standing by at cme group. rick, what happened yesterday? >> from an equity perspective, there's probably good reasons, especially at the beginning of earnings season not look at overextension of the 6,000 plus level in the dow. look ahead where horsepower comes from, handicap things like banking and financial industries and where they are going to derive earnings power on fixed in