hampton pearson has that story. >> reporter: they focus on the use on statents to lower the risk of heart attack, stroke and diabetes sgl diabetes. >> this is certainly a departure from guidelines where the focus was getting your cholesterol to goal and now the focus is on trying to get started on medication and take the highest dose that you can tolerate. >> reporter: the heart association and american college of cardiology identify four patient groups for whom taking stat tents lorer risk. those with bad cholesterol levels, patients with type two die bee bee ttees and patients a cardiovascular profile. >> the new recommendations really reaffirm the importance on treating cholesterol levels in the highest risk populations. those with established heart disease, those with diabetes and those with genetic cholesterol problems. >> reporter: analysts say there is no question statents are the big gorilla, 214 million prescriptions a year, a 17% increase in the last five years. two of the biggest sellers, lipator has gone off patent. crestor go go off 2015. they say it won't offset the lost rev

hampton pearson has more. [ cheers ] >>> voters in a small city in washington have just approved a $15m wage an hour. they are due for a big pay raise. the first step in a push by organized labor to go çnationa >> people will finally be able to make ends meet without having to work two or three jobs, descent pay, descent benefits. much for the work for the airport but for this come moneyty. >> reporter: in new jersey, the only thing more popular with voters in the reelection of chris christie was a 61% vote approving a constitutional amendment to raise the state's minimum wage to $8.25 an hour in january. california is the first state to commit to a $10 an hour minimum wage by 2016 signed by jerry brown in september. what all three states have in common is a large number of low-age workers and the high cost of living. >> folks at the bottom of the pay scale have been left behind. you have to do something to reconnect their labor, their work, they are trying to get ahead to economic growth because it's not happening the way it used to. >> reporter: 19 states and the district of colombi

for "nightly business report", i'm hampton pearson. >>> the container store began trading on the new york stock exchange today and that's where we begin tonight's market focus. shares of the retailer doubled after pricing shares aabove the expected range, the cceo says he's optimistioptimistic. >> we indicated we can grow absolutely at 10% square footage growth per year minimum so we're looking at double digit growth from here on. it's great to be immature in retail with 63 stores, there is a lot of runway with. it surged to $36.20. >>> weakness in remaining, the country's number two oil company reported gas and oil output increase but not enough to meet estimates. that pressured the stock to close at 118.01. >>> madison square garden posted an earnings beat. net income jumped 16%, that made up for weak revenue generated by radio city music hall. but shares ended the day down at $58.45 a drop of 3.5%. >>> shares of first solar surged after the company boosted the profit forecast for the year. the maker of solar equipment reported earnings yesterday that came in ahead of analysts esti

hampton pearson as more tonight. >> reporter: at a senate banking commission to become the first woman fed. >> i do. >> reporter: she said the economic stimulus policy but gave no hint of when tapering would begin. >> while there is no set time, we will decide to reduce the pace of our purchases at each meeting we are attempting to assess whether or not the outlook is -- is meeting the criteria that we have set out to begin the pace of purchases. >> reporter: as fed vice chairm chairman, she's been a key ally of bernanke holding key interest rates near 0 since late 2008 and quadrupling the fed's balance sheet to $3.8 trillion done with massive monthly bond purchases. the housing recovery and strong auto sales she says are prime examples of how the stimulus benefitted both main street and wall street. >> we have seen interest rates fall very substantially. lower interest rates, lower mortgage rates, particularly i think have been instrumental in the positive factor. >> reporter: when asked about fed regulation in the future, judged too big to fail, yellen says as chairman a highest prio

for "nightly business report", i'm hampton pearson in washington. >>> stocks took off on the news. there was added good news as consumer spending rose and the market slugged off a drop in consumer sentiment. so in the dow rose 167 points to close at an all-time high of 15,761 and the nasdaq jumped nearly 62 and the s&p 500 added about 23.5 points. but interest rates spiked with the ten-year treasury bond hitting 2.75%. one question did arise, if that jobs number was so strong, suggesting the under lying economy is firming up and the markets are concerned with the feds starting to ease up on the bond buying purchases, why did stocks go higher? we asked bob. >> reporter: the surprisingly strong october jobs report pushed interest rates up again today, yields on ten-year treasuries are at six-week highs putting pressure on interest rate sensitive groups like utilities, real estate investment trusts, all of which are down for the week but the idea just because interest rates go up, the stock market is supposed to go down didn't hold water today. yesterday was the worst day for stocks i

for more on that we turn to hampton pearson live at cnbc's washington, d.c. bureau. good to see you, hampton. >> reporter: hi there. we're going to turn to the markets where we've got futures higher as investors head into final trading day of the month. historically if november is positive december will be too. as a matter of fact over the past ten years if november is positive the dow and s&p 500 are up in december, 80% of the time. on wednesday, the dow closed up 24 points, to close 16,097. the nasdaq adding 27 to close at 4045. as you mentioned some walmart workers and supporters plan protests at 1,500 stores hoping to draw attention to what they believe are wages that are too low, protesters believe that $17 billion walmart made in profits should allow the retailer to boost and pay what workers call livable wages. critics say not all of the protesters are walmart workers but that's because some employees fear retaliation if they criticize the company. amazon is not waiting until cyber monday to roll out its deal. the retailer will open its special cyber monday sto

hampton pearson is live at cnbc world headquarters. good morning. >>> we have futures higher after the markets faded late in the day on tuesday. the dow managed a tiny gain which helped it closed in record territory and the nasdaq closed above 4000 for the first time in 13 years. investors will get several economic reports today before we all head out for the holiday. we get data on unemployment, durable goods, manufacturing and consumer sentiment. the dow rising to 16072. the nasdaq to close at 4014 yesterday. a look at the head of the markets and a quick look back. have a great holiday. >> you too. thank you, hampton. hampton pearson in washington, d.c. >>> hewlett-packard said it made more money than analysts expected. p.c. sales fell. barnes & noble said it made money as well but it came from cost cutting. the bookstore, jon and laura, has been closing stores, saving money. that is showing up in the bottom line. they also cited the thing we were citing last year. this year, there was no 50 shades of gray. last year," "fifty shades

hampton pearson.r the last several years it seems that each time the fed announces a fresh round of stimulus, commonly called quantitative easing, the stock market moves higher. but a new study out says despite popular belief, fed bond buying has not boosted stocks. joining me is a co-author of that study, richard dobbs of the mackenzie global institute. also, dennis gartman who begs to differ. richard, you said the fed bond buying program has not led to u.s. stocks moving higher. how do you get there? >> well started off by thinking there would be an increase in valuation as a result of qe programs and interest rates. when we went through and looked at valuation levels of the stock market, we couldn't find any departure from long-term rates. so if you look at the pe ratios, price earnings to ratio, ratio to value of the stock to the earnings, or the market to book risch o ratio of companies, this is in line with the 50-year average. obviously, if you expected the quantitative easing programs to have

for more on that and the rest of the news before the bell let's turn to hampton pearson at the washingtond.c. bureau. did you have a good thanksgiving? >> absolutely. i hope yours was great as well. the businesses, first of all we're going to look into the futures are higher as investors head into the final trading day of the month. historically november is positive. december will be too. over the past 10 years, if november is positive the dow and s&p are up in december, 80% of the time. it is just a half day for the markets today, on wednesday the dow closed up 24 points to 16,097, the nasdaq added 27, to close at 4045. as you mentioned groups of walmart workers and supporters are planning protests at 1500 stores nationwide today. they hope to draw attention to what they believe are wages that are too low. protesters believe that walmart and its $17 billion in profits made last year should allow the retailer to boost and pay what workers call livable levels of wages. they say not all of the protesters are walmart workers but because some employees fear retaliation if they criticize the c

for "nightly business report," i'm hampton pearson. >> and to read more about crowdfunding for dicharity, hea to our website, nbr.com. >>> up next, banks taking steps to educate their customers, but first, a look at how commodities, treasuries, and currencies fared today. gold ending with its worst november since 1978. ♪ >>> almost everyone agrees that america has a financial literacy deficit, but fewer agree how to address it. more and more financial companies are trying, but they still spend more on brand awareness than they do on consumer education. kayla has our story tonight. >> reporter: amid the bills and catalogs, a familiar piece of mail, citigroup, american express, discover, chase, saying act now and be approved for this one-time credit card offer. those letters and banks cost the industry $17 billion a year. a new study from the consumer protection bureau says for every dollar spent, $25 is spent on banks-owned brand, a staggering disparity in resources. >> we need to promote informed financial decision making. >> reporter: this means the majority of information consumers rec

hampton pearson is in washington now with more. hi, hampton. >> reporter: how you doing, tiler? yeah, all 12 democrats joined by 2 republicans on the banking committee, senators bob corker and tom coburn, to green-light the nomination of yellen for a vote by the full senate, most likely in december. now, janet yellen would be the first woman to lead the federal reserve, if confirmed. she has been a key ally, of course, of the current chairman, ben bernanke, in crafting the fed's policy of economic stimulus through bond buying and exceptionally low interest rates. now, before that banking committee vote, the ranking republican, senator mike crapo, questioned the wisdom of continuing those policies with no end in sight. >> these unconventional and untested policies continue unabated as the fed continues to purchase $85 billion worth of securities each month. the long-term costs of these policies are unclear and frankly worrisome. the immediate benefits are questionable, and markets have become far too reliant on monetary stimulus. >> reporter: now, the big question is what kind of

hampton pearson found one company where they're doing hiring in the great city of baltimore. hi, hampton. >> hi, sue. today's jobs report with a headline number of 212,000 jobs added to the private sector payrolls in october in spite of the government shutdown is an example of the resilience of the american company economy one business at a time. we spent time with a baltimore based business that has been on fire, fireline, has 160 employees, annual revenues around $20 comillion, serve and install every fire protection device you can imagine for commercial businesses. a growth plan that began more than a decade ago is paying off and the president of the family business, her grandfather founded back in 1947, and yes, they're hiring more workers. >> the hiring that we're seeing, we're hiring designers, we're hiring technicians and then what happens eventually is you end up having to hire administrative people to support those functions and that growth. we have been very cautious in our hiring for a couple years, and this past year we've definitely hired sales, which that's going

hampton pearson has more on that. >> the president was asked at the end of a photo op with prime minister response was very brief. >> of course, we've been monitoring it. we're concerned about it but i'll let law enforcement officials talk about it directly. thanks, everybody. >> you heard it, as we know, the president has been kept abreast. it's an ongoing investigation. but basically now deferring everything to the west coast where they are deeply involved with law enforcement authorities putting together the investigation. we know the shooter is a 23-year-old u.s. citizen. how many people, in fact, were injured or killed. again, very brief comments from the president moments ago at the white house on the ongoing investigation of the incident at l.a.x. back to you guys. >> thanks so much, hampton, for bringing us up to speed on that. our coverage of the fatal shooting at los angeles international airport continues. right now we're getting some notes from flightaware.com that said 1,100, roughly, flights were scheduled to operate. roughly a quarter of those were affected on the departure

hampton pearson with the story. >> reporter: rear live at the wall, vietnam veterans memorial, a place visitors come every day of the year to honor military veterans for their service and sacrifice. earlier today across the potomac river at arlington national cemetery, president obama, after a wreath-laying ceremony there, told the crowd it's time to focus on the next generation of veterans, the post-9/11 group coming home from the war in afghanistan. in the next five years, an estimated 1.5 million service members will be leaving the military looking for civilian jobs. their unemployment rate is 10%, well above the national average. but this is as large and small are stepping up. hiring our heroes. major initiative laurnnched by u.s. chamber commerce has a pledge for 500,000 jobs for veterans. on wall street, jpmorgan chase has enlisted more than 123 fortune 500 companies committed to hiring at least 200,000 vets by 2020. we are expecting more announcements this week. meanwhile, the vets we talked to say their message to potential employers, give us a chance to prove to you that what

let's go over to hampton pearson to talk about that. >> i don't know if it moved markets, but it may have moved votes. it was the exchange janet yellen had with senator bob corker where he in essence shared a conversation they had had in his office. isn't the fed, with its tapering policy, basically become a prisoner of its own policy and by extensioextension, a prisone markets? listen to what really was the moment in today's hearing. >> it seemed to me -- and i think you discussed this a little bit in the office -- that the fed had had become a prisoner to its own policy. >> well, senator, i don't think that the fed ever can be or should be a prisoner of the markets. our job is -- >> but to a degree in this case, it did affect the fed, did it not? >> well, we do have to take account of what's happening in the markets, what impact market conditions are likely to have on spending and the economic outlook. it is the case -- and we highlighted this in our statement -- when we saw a big jump in rates. we did have to ask ourselves whether or not that could potentially threaten what we wer

hampton pearson is in washington with the details. morning, hampton. what is happening?> how are you, ross? before i go through this story, if you or your viewers develop a headache by the time i'm through with it, it's perfectly understandable. the federal agency in charge of overseeing health cave.gov says it's switching from verizon to hewlett packard as the web hosting trouble. verizon has hosted key parts of the online marketplace and served as the digital juncture to pass along information to it, the insurance companies. healthcare.gov has suffered a series of heckal glitches and outages. that led health .human services secretary kathleen sebelius to call the verizon ceo as well as sparking heavy criticism from both republicans and democrats in congress. now, the centers for medicare and medicaid services says its contract with caremark had been set to end last summer. hp was awarded the contract. a spokesperson declined meant on whether the transition from terremark to hp would affect the website's operation. the obama administration has said it plans to have heal

joining us from washington with the details, cnbc's hampton pearson., hampson. >> how are you doing, ross? yeah, first of all, standard & poors says big u.s. banks may have to pay up to an additional $105 billion to resolve all those outstanding mortgage-related cases. but they should have enough capital to help them absorb the losses. banks have faced a wave of lawsuits as regulators investigate their role in the bundling and sales of mortgage-backed securities before the financial crisis. a big increase in legal reserves weigh eed heavily on third quarr results. jpmorgan reported its first quarterly loss under jamgame di job after reporting its reser reserves. the s.e.c. and the justice department, meanwhile, are expanding their probe of banks highing practices in china to including morgan stanley and citi group. the investigation focuses on whether they hire relatives of well connected chinese officials in an effort to win new business. in august, jpmorgan disclosed it is the subject of civil and criminal probes over the hires it made in china. the

hampton pearson with the numbers from the labor department. hampton? >> up 204,000.increased by 204,000 jobs, the unemployment rate is 7.3%. they -- much higher than the consensus. we also had significant juch wa upward revisions. a net increase of 60,000 jobs for august and september, above what had been previously reported. the other headline in this particular report, october private sector job growth plus 212,000. i'll get to that in a moment. the impact of the government shutdown. here's the benchmarks as we have them from the labor department. in the household survey, there was an increase of 448,000 persons who reported being on temporary layoff. at the same time, the labor department tells us 223,000 federal workers were on temporary layoff but that number is not seasonally adjusted. it's a difference in methodology between the surveys that impacts the numbers in the household survey. those persons would have been counted as unemployed or temporary layoff. whether or not they got paid in the establishment survey, basically laid off government workers were cou

pearson. he is live at cnbc's world headquarters. he is in washington, d.c. hampton, good morning. >> reporter: how are you doing, guys? we have futures higher after the markets faded late in the day on tuesday. the dow did manage a tiny gain which helped us close in record territory. the nasdaq closed above 4,000 for the first time in 13 years. investors will get several economic reports before they head out for the holiday. we get data on unemployment, durable goods, nmanufacturing ad consumer sentiments. the dow rising a fraction. the nasdaq closing at 4017 yesterday. meanwhile, ford is recalling 161,000 of those 2013 model es skate suvs worldwide to fix problems that could lead to fires. ford has reported 13 fires in the u.s. and canada that were caused when cylinder heads cracked because of overheating allowing oil to leak on to the hot engine. the recall ford escape equipped with a 1.6 litre ecoboost engine. >>> on the car front, car dealers want in on the black friday action. they are saving some of their best deals to try to lure shoppers out of the malls and