we expect it to list in hong kong on october 9th. now, other shows talk about the ipos and we've read a lot of articles about it. they tell you this is going to be interesting but they don't tell you whether you want to be in them or not. in "mad money" we try to teach you how to analyze ipos and use these filings as examples of how the ipo market can be played to help you try to make the most money with these deals. of course, while taking on the least amount of risk. i don't want you going all the way to hong kong to buy shares in wynn's macau business, although i'm sure it will be a bang-up ipo. the best play here is the one i've been pushing for months and that's by buying wynn. because by selling off 25% of its macau business it can finally free up what's called hidden value in this company. right now there's no way for investors to independently value wynn's piping hot mechanical operations but when the ipo happens that will change things. and even though the stock is already up huge in anticipation of the ipo, wynn is up 73% s

to sarah palin in hong kong, blaming regulation for the deregulation crisis.dinejad hailing himself in new york. to moammar gadhafi diving straight into the kook end for a long, long, long swim. to senator jim bunning concluding his public comments on health care with a public nap. it's all in today's news. "newsweek's" howard fineman will be joining us, as will nobel prize winning columnist paul krugman. >>> but we have to begin with very serious breaking news. the fbi is investigating the hanging death of a u.s. census worker. the associated press reporting tonight that according to a law enforcement source, the word fed, f-e-d, was scrawled on the victim's chest. bill sparkman, a 51-year-old part-time census field worker, also a single father who survived nonhodgkin's lymphoma and held down two jobs while pursuing a teaching degree, this man was found on september 12th hanging from a tree in a remote part of the daniel boone national forest, which is in rural southeastern kentucky. this law enforcement source did not tell the associated press what was used

in hong kong n her first paid speech since quitting her job as alaska governor. >>> and muammar mayhem, no place to pitch his tent in the u.s. ahead on "countdown." my digestive system didn't always behave. whatever i did my digestive upsets came back. but then came align. only align contains bifantis, a patented probiotic. it promotes a healthier digestive system helping to restore my natural balance with ongoing probiotic protection. align brings peace to my digestive system and to me. try align and discover a world of digestive peace. so, at national, i go right past the counter... and you get to choose any car in the aisle. choose any car? you cannot be serious! okay. seriously, you choose. go national. go like a pro. with "special savings" on select hand-made upholstery. you choose the fabrii... we custom make it. it's more affordable than you think. now with smart finance options for the way you live. call or click today. >>> still ahead on "countdown," president obama tells the u.n. general assembly he will never apologize for defending the interests in the united states and tel

>> thank you, larry. >>> coming up -- sarah palin's speech to business leaders in hong kong.f they expected her to say something new, they did not get what they paid for. next on "countdown." u'll love i, you'll send your old duster packing. ♪ love stinks! ♪ yeah! yeah! ♪ love stinks ♪ [ female announcer ] swiffer 360 dusters cleans deep into hard to reach places and removes allergens, feather dusters can leave behind. the thick all around fibers trap and lock on contact. swiffer gives cleaning a deep new meaning. exact change, buddy. ♪ love stinks! if you're using other moisturizing body washes, you might as well be. you see, their moisturizer sits on top of skin, almost as if you're wearing it. only new dove deep moisture has nutriummoisture, a breakthrough formula with natural moisturizers... that can nourish deep down. it's the most effective natural nourishment ever. new dove deep moisture with nutriummoisture. superior natural nourishment for your skin. >>> she says she represents main street, usa, and wants to be called a common sense conservative. she then went on to

this particular market of hong kong fell more than 2% today. interest rate sensitive stocks and interest rates getting hit. what is the picture looking like for hong kong in the fourth quarter. >> okay. i do expect some sort of consolidation and correction in october, which used to be an ominous month for the stock markets. and investors who have been more cautious in october, i'm afraid. but the overall up trend is still intact because the global economy, especially the u.s. economy, is recovering steadily. so i am still positive about the fourth quarter outlook and my year-end target remains 23,000. >> okay. and in terms of sectors, do you like the energy sectors because the u.s. dollar is weak? >> yeah. and the believe that global economic growth may grow momentum towards the end of this year and starting from the beginning of next year. and if global economic recovery picks up, we may see a revising demand for crude oil. and since the energy secretary erps have been elected compared to other sectors, such as financials and tax, with i do be

hong kong's biggest ipo this year. last week, the construction company raised almost $2.8 billion in its shanghai, the domestic offering. the combined dual listing makes it the second largest ipo in the world this year. >>> the chairman of the french banking federation says the impact would be unjust as the crisis originated in the united states as a lack of consumer protection. in ireland, banking shares are higher as the company unveils its deepest ever financial bailout. the states will pay $7.9 billion to take over loans. there's been some criticism of the plan from trade unions and others who believe the country is overpaying. >> ross, chrysler is back in the leasing business. starting today, the u.s. automaker will make some of its 2010 models for lease. chrysler stopped leasing its cars more than a year ago after credit dried up and credit plunged. but now it plans to offer leases on many of its vehicles. it's looking to reverse its 39% drop in sales since the beginning of this year. and toyota plans to spend $1

raised money, the hong kong listing will begin on thursday. and more for the red hot -- joining us from hong kong, great to see you again. first of all, the interesting thing that you saw with china medilurgical, it finished higher by 28%. what does this tell us based on your observations today? >> actually, if you look back, all of those that have been launch after they assume the ipo has been doing quite well, you know, most of the others actually went up even higher. if you look at some of the smaller caps. the exception is china construction being a big issue. at the end it actually ended up quite a bit. so it's not surprise again the liquidity in the system. and i think investors in the mainland are actually looking at ipo very different from the secondary market investing. this is rial kind of a little bit like a lottery really. you manage to actually get it, the allocation obviously at the very beginning. so far, all of these 20 odd companies you listing, you'd never lose money, at least what we've been seeing. that's sort of reenforcin

russell is aiming to list 10% of the shares in hong kong. the marketing of the ipo is slated for november with that listing set to take place in december. steve? >>> thank you, the french government has nominated a new executive chairman of the state-controlled energy group eds. the new chairman is the current chief executive, which already has ties with edf. the future is still uncertain, but many expect edf stake to increase. the soon to be former chairman of edf was expected to lose his post after angering the government this summer by calling for steep price hikes. >>> in the united kingdom, shares in wolseley are trading higher after better than expected results for the fiscal year and gave a reasonably positive outlook. wolseley said the decline in sales was less bad in this half and sees this trend continuing as the market stabilizes. the company says it will start to scale down the cost-cutting program. julia? >>> well, u.s. drug maker abbott laboratories plans to buy solvay pharmaceuticals. it would boost abbott's prescription drug

and so has hong kong. so it's a combination of both monetary and outright administrative measures to slow things down. and they -- i'm pretty sure they will not be slow in using these measures this time round if they see bubbles occurring and are signaling that's exactly what they're looking at. >> peter, it's louisa in london. are they indicating that the measures that have been using are effective and will continue to be effective now if they put them into place quickly and how long is the lag period going to be before things start slowing down, then? >> in the past, administrative measures a couple of years ago were being adopted in china to slow the property markets down. and it took quite a while for those measures to take effect. they would introduce a measure and watch and wait for a month or two, then introduce more measures, and over a period of six or eight months, it actually worked. in singapore, you saw a couple -- or about a month ago, some measures being announced to slow down financing for

meanwhile in hong kong, a pretty solid session up 11.5%. gain in banking stocks in hong kong as well as also the gold stuff. bouillon prices about $7 billion away. investors seem to be blowing into gold shares, christine in asia. so overall, pretty good session. >> thank you, adam. >>> well, coming up on worldwide exchange, we will continue to look at ipos in india. >>> kicking off subscriptions for its $500 million offer. will mumbai see another disappointing day? >>> policy makers reach a broad agreement on curbing bank bonuses but left the hard stuff to the leaders meeting. will it end up in the basket? (announcer) we understand. you need to save money. >>> i'm christine tan, in india, a sign of life in the ipo market. oil india fully subscribed within 30 minutes of opening. >> hello, everybody, i'm louisa bojesen. in europe, m&a has been focussed as kraft makes aed by for cadbury that the candy maker rejects claiming they're undervaluing its business. >>> and there's quite often the case, isn't it, when you get the first bid and the com

well, accompanying her to hong kong was a former foreign policy adviser to john mccain. joining us now is "washington post" editorial writer and msnbc contributor, jonathan kapart. good to see you. >> good to see you. >> let's clear this up. looks like she may be broadening her foreign policy experience, first trip to asia, this was a paid speech, right, she got a lot of money? >> right, i haven't seen what the figure is but last i heard, it was probably in the low six figures, but, hey, that's a lot of money, especially former governor who is, you know, out of work technically. >> absolutely. she got paid a a lot of money. here she is criticizing president barack obama overseas. i guess we could expect that do you think, however, this is an attempt by her and sort of crafting this message that she could run in 2012? >> well, look, anything is possible, especially when talking about sarah page, but let's look at something here, which is interesting. this was, as you said at the top, closed to the press, closed completely, the only way we know what's happened is by people

hong kong's hang seng is lower. and in london, the ftse opened lower. >>> the senate banking committee is holding a hearing on the $700 billion bank bailout. in prepared remarks, the program's government watchdog will say it's extremely unlikely that taxpayers will recoup all the money. several banks have repaid the bailouts with interest. but full recovery to assistance to aig, automakers and mortgage modification programs remains uncertain. >>> wells fargo didn't take long to follow the bank of america or jpmorgan chase. customers at wells fargo and wachovia will not be charged with they overdraw an account by $5 or less. and they can opt out of overdraft coverage. >>> boeing is looking to get in the aerospace business. the aerospace giant is looking to take astronauts and even tourists into space. the company is working with nasa to build a transportation system to the international space station and other desations. >>> in today's "new york times" tech report, hewlett-packard adds apes to the video frame. it has

there's already been reaction to sarah palin's remarks in hong kong, specifically on china. i just got this in the last couple of hours ain my e-mail bx from the house foreign committee chairman and he said this -- in remarks before business leaders in hong kong, former governor palin urged china to rise responsibly. as she continues on the lecture circuit, ms. palin should take her own advise, leaving aside the propriety of criticizing the president while on her first trip to asia, the assertion that the united states is ignoring areas of disagreement with china is flat wrong. he went on to say the assertion is putting this on the right course. interesting from the chairman that he's concerned she's out of line. >> that's right. of course, there's kind of a long understanding that you don't criticize when you're abroad. you remember vice president al gore really got hit for that one time when he did it. in terms of what she said, i don't really see any other people who would stand up to say this. i think a lot of democrats would like it see what she said kind of move on. sh

hong kong's hang seng is lower. in london, the ftse opened higher.all street starts the day with the dow at 9829, after gaining 51 points yesterday. the nasdaq added 8 points to close at 2146. >>> two of the nation's biggest banks are overhauling overdraft fees that have been criticized as excessive. starting next month, bank of america will allow customers to cut off their debit cards when their account hits zero, to avoid being charged. it will also cap its fees. beginning next year, jpmorgan chase will also allow customers to opt out of overdraft coverage and eliminate some fees. >>> well, despite the worst economic downturn since the great depression, most chief executives didn't take a pay cut last year. a new study finds ceo pay was essentially flat, ticking down just slightly. at the same time, the du jones plunged more than 37%. the study's authors said the board of correct directors didn't blame ceos for the bad economy. >>> many stores say they will higher fewer workers than last year. 25 of the nation's biggest retailers, including best bu

take a look at the hong kong markets, ending the day higher by 2.8%. the h-share index up by 2.9%. late in the trading day at about 2:00 p.m. singapore time, the chinese regulator relaxed some of the rules for the qii investment program, increasing the capital from $800 million and reducing the lockup period to three months from some ininvestors to the original 12 months. as a result of that, we saw a strong session late in the trading session for the chinese listed bank on the h-shares more so than the h-shares over in china. on that note, christine, it's back to you. not a bad session for the equity markets. >>> coming up next on "worldwide exchange," india attempts to re-energize global trade talks in new deli. but is this last ditch to rescue the doha a futile exercise? >> and unemployment for 1.3 americans will be running out at the end of the year. hahahahahaha sdwloo. >>> i'm mike huckman in the united states. in the united states, the economy may be showing signs of improvement, but not enough to keep companies from cutting jobs. >> i'm christine tan in asia. >> hello, ever

she can now list, gave a speech in hong kong.ple of things to know about this speech which was delivered to a room full of financial executives, number one, the speech was closed to the press. however we do have some appropriately grainy footage from somebody's handy cam. >> i will call it like i see it and i will share with you candidly about main street, main street usa and how perhaps my view of pain street representing perhaps a lot of other people, how that affects you, your business. >> second interesting thing about this speech, sarah palin brought along as her advisor the controversial top foreign policy advisor from the mccain-palin campaign, he made himself famous for, at least famous for d.c. at least, when it turned out that his lobbying firm signed a new contract with the republic of georgia, on the same day a that john mccain spoke to the president of georgia and released a statement supporting georgia in what was about to become georgia's armed conflict with russia. the implication was that georgia paid mccain's ad

hong kong shares gained, meanwhile, 0.4%. the gain necessary china did very little to help hong kong move higher. in japan, slumping 0.7% as the stronger yen hurt the exporter stocks there, especially the automakers and after the markets closed, we had npp dokomo planning to launch a debt takeover for net mobile's closing share price on thirs thursday. over in sydney, australia, shares closing at an 11-month high. of course, the nation's biggest department store, meyer, said it would float the company on the stock exchange this year. on that note, let me send it over to brian in the u.s. hello, bien. thank you very much, christine. today in the states, we have three economic reports. out from the university of michigan, we'll get consumer sentiment numbers. analysts are looking for a september reading of 67.0. we'll have the report on august import prices. in terms of that one, forecasters believe the numbers will show a 1% drop in the first months following a six-month drop. at 10:00 a.m., we'll have whom sale numbers. that,

on to hong kong with emily.. >> thanks, adam. and we saw the hang seng index ending lower by about 1%, 20,932 with mining and oil stocks weak. but one year ago today the hang seng index was at 19,351. what does that mean? it's gained about 8.6% since then. we usually track the dow and the u.s. markets, butut the hang se index also has a tendency to follow what's happened in the shanghai composite. today it managed a gain of 1.2% following on from the gains of friday, 2.2% higher onon the august economic data. but one year ago today in the shanghai markets, we have put on 45% since september the 14th. the shanghai composite did manage to hit a one-month high breaking the 3,000 threshold. and a strong day today for the shanghai market. china's banking system has been more conservative. so the mainland banks, rather, unscathed from the financial crisis. but exports from the united states and from europe obviously taking a hit that way. we have seen the chinese market suspend ipos, since september of last year, only recently on the m

that optimism helping to lift hong kong stocks. but the big story in shanghai today, this is the sixth session for gains now since the lows that we saw hitting on september 1st. the vice governor came out and said spes yetly we haven't said we're going to change our policy. australia up about 1.5% as we saw more deals being done in the chinese mining sector with chinese companies adding their investments into the aussie mining companies. nymex light swede crude, $69.11 a barm and brent crude trading higher, as well, $67.63. >> justin stewart, i want to jump straight in and introduce him. he'll be our guest host for the next hour, worldwide@cnbc.com, he'll be taking your questions. how are you, justin? >> i'm well, indeed, thank you. >> are you a bit positive more than you were a month ago? >> the trouble is, no, i'm slightly more worried. in britain, we have that own legend, sell in may and go away. if you had gone away in may, it would be a big disaster. you would have missed out on one of the biggest rallies we've seen in our lif

there were a lot of rumors floating around hong kong about how much exactly she was compensated.nk it is safe to say that it was in the six figures, so it was not a small amount of change, but it was also a fairly significant foreign-policy speech. to talk about u.s. alliances out here, to talk about trade, that is a pretty significant speech, and it has gotten a lot of notice out here in asia and, i guess, back in the u.s., too, i hope. greta: in terms of the media not getting in, is that the same thing that has happened when other politicians have got to give a speech? did they permit the media to be in there? >> well, these conferences are pretty close to the media, although most of the media community here thought it was a little strange that she did not at least give one press conference. the people at the brokerage firms said, "no, look, that is just our rule," but the reality is is that if she had wanted to talk to the press, she could have gotten out there. greta: was the media as interested in the former governor as we seem to be here in the united states? >> they were a

hong kong. >> no.airman and ceo -- no bitterness. just pointing out. and chairman and ceo of playboy enterprises and board for the center for american progress, christie hefner. >> good morning. the nice thing giving a speech in hong kong you can give the money back because the shopping is great in hong kong. >> you see. exactly. it all goes around. a good thing. >> it is. so, what's the center for american progress's take on what's going on, let's go over a couple of issues. for instance, acorn. that's obviously acorn's in the news. even barney frank pulled away from acorn. i would guess the center for american progress has worked with or been allies with acorn in the past. what's your take on that? >> i think it's problematic. you've got an institution that i think objectiontively has done work in the past in community organizing. but these revelations and most particularly you know, these videotapes have to make you say this is not an organization that's got management oversight in place that you ha

now get this, sarah palin was a hit in hong kong, attacking the fed for creating a bubble, criticizing obama's chinese higher tariff and calling for lower taxes across the board. "the new york times" gave her a good write-up. next we'll talk about sarah and the g-20. there's a combination. you're watching cnbc, first in business worldwide. welcome to progressive. how may i help you? i'm looking for a deal on car insurance. i think i might have a coupon in here. there's an easier way. we've got the "name your price" option. you do? follow me. you tell us how much you want to pay, and we'll build you a policy that fits your budget. and i still get great coverage? uh-huh. go ahead. you're the boss. i'm the boss of savings. more like the c.e.o. oh, oh. no glass ceiling. the freedom to name your price. now, that's progressive. call or click today. >>> mahmoud ahmadinejad speaking at the u.n. president obama made his first address at the u.n. this morning. >>> good evening. from the u.n., this was the first address by barack obama as president hp's still in his honeymoon period, seen by thes

her first pick was asia, it business conference in hong kong.an investment forum, an annual conference of global investment managers -- her first pick was asia, in a business conference in hong kong. and alan greenspan is one of the past speakers. and former miss california carrie prejean back in the news. this time, she is suing the pageant. they dumped her, and she says it is due to religious discrimination. it names keith lewis and shannon moekler. she said she does not believe in gay marriage, and then perez hilter called her the b word,k and it was off. they fired her, and they said it was for missing evens and attending events that were not clear, but she says -- and they send it was or missing events -- it was for missent events and attending events that were not clear. and blagojevich is drawing back aggregations -- accusations. he says rahm emanuel wants to leave the obama administration in 2010 to reclaim his seat in congress, and he asked blagojevich for help. rahm emanuel was a congressman when you left to become the president and ch

in tokyo, the nikkei add 33 points, but in hong kong, the hang seng fell 57 points. >>> just at a time when toyota was hoping to bounce back from record losses based in part on the car's reputation for quality and safety, the company has been forced to announce an historic recall. toyota is mounting its biggest ever recall. 4 million cars and trucks in eight of his toyota and lexus models. loose driver's side floor mats that press on the gas pedal. the index of consumer confidence yesterday showed americans are still worried about the current job market. that news sparked selling that led to the day's drop on wall street with investors worried that if americans aren't feeling secure about their jobs they won't get out there and spend. that means a longer road to recovery. that disappointing news was enough to offset earlier gains fueled by an increase in home prices. housing prices are off 13% compared to last year. numbers across the country are improving. walgreen's had a good day despite wall street's losses overall. the retailer jumped 9% after reporting better than expected earnin

taking a look at overseas trading this morning, in tokyo, the nikkei rose 173 points, but in hong kong the hang seng sank 544 points. yesterday's federal reserve meeting did not deliver think big surprises the take on the economy still changed to disappoint some. after wrapping its two-day meeting wednesday the fed announced interest rates will reman unchanged. on the subject of a recovery, the committee said the pace of economic activity has, quote, picked up. >>> markets rallied early but finished lower afteren vestors worried that the fed's decision to slow some stimulus measures may have come too soon. >>> with interest rates remaining at record lows, concern that banks will have a hard time turning a profit sparked a sell-off in financials. jpmorgan led the market. citigroup is reportedly cutting back on branches nationwide, focusing the pluck of its business overseas. now citi will be in just six major u.s. cities. some say the move could make waves in washington considering the u.s. government bailed out citigroup last year and now has a 34% stake in the company. >>> also draggi

> taking a look at overseas trading this morning, in tokyo, the nikkei tumbled 256 points and in hong kong the hang seng tumbled 435 points. >>> looking for guidance on whether to lighten the load or make the move before the next rally. worries over the pace of a u.s. recovery dipping into overseas profits sent the nikkei down 3% to its first close below 10,000 since july. leading the nikkei's losses, auto giant honda dropped 5%. >>> back home, the lumberg survey shows gas prices have dropped nearly 7 cents in the last two weeks. on average, regular unleaded is now $2.52 a gallon. >>> abbott laboratories plans to announce it will acquire prescription group sole say. >>> the economic report investors will be watching this week, data from the labor department due out this friday. although analysts predicted the government's monthly tally of unemployed americans will rise, the number could send markets into a tailspin. >>> wall street keeping an eye on ben bernanke thursday when he testifies on regulatory reform. some weary investors will be listening for any additional word on the federal re

. >>> tying a look at overseas trading this morning, the nikkei tumbled 249 points, while in hong kong, the hang seng shot down 350 points. >>> the september can curse continues to haunt wall street tuesday. as stocks tumbled thanks to rumors of another bank sale rattling jittery investors. that's all it took to send markets on a downward spiral. 2% across the board, a correction some had predicted for weeks. 29 of 30 dow stocks were down on the day. walmart was the lone blue chip to eek out a gain. hardest hit, financials. bank of america dropped 6%, citigroup fell 9%. tuesday's phantom fear, a measurement of wall street's fear, sending it up 12%. the institute for supply management's first sign of growth in a year and a half was unable to aleve investors's anxiety, as well as the highest level of pending home sales in more than two years. investors ignored boosted auto sales for august thanks to the cash for clunkers program. ford suffered a 4% laws despite a double digit monthly sales increase. ebay took a hit after announcing it will sell a share in skype. much of wall street's hop

. >>> taking a look at overseas trading in tokyo, the nikkei nudged up 53 points while in hong kong the hang seng leaped 536 points. >>> wall street got an update on the state of the economy tuesday. for the most part, the news was good. perhaps the most reliable economic report of the day came from fed chief ben bernanke speaking on the collapse of lehman brothers. he said the recession is, quote, very likely over. however, he also warned the recession's greatest scar, unemployment for millions of americans will take some time to heal. >>> new stock market highs for the year were fueled in part by surprising gain in august retail sales. the 2.7% jump beat expectations even factoring out car sales from the cash for clunkers program. but it wasn't all good news for the retail sector. best buy shares fell 5% after reporting disappointing quarterly profits. and the same was true of kroger. shares of the grocery chain were down 7% tuesday following quarterly profits below analysts's estimates. alcoa shot up 8% tuesday, boosted by an increase in the producer price index that sparked a surge

and in hong kong, the hang seng gained 91 points. >>> wall street will be looking to extend its five-day winning streak, and it could get some help from upbeat economic news overseas. in china, a report showed government stimulus spending fultd a 12% jump in industrial output. that boost eased some of the fears that stimulus spending could spark inflation. >>> back at home investors were optimistic after weekly jobless claims fell to their lowest levels. proctor & gamble, increased a forecast in sales this quarter. >>> yahoo! shares up more than 4% after it got a thumb's up from one analyst. pretty strong traffic continues to outpace the internet's growth as a whole. >>> analysts upgraded the entire usair lines sector on its overall improved health. >>> g.m. will sell a stake in its european unit opal to magna. >>> revamped carmaker advanced it will offer a money-back guarantee on all but it's pontiac lines. it's called the may the best carwin deal. it starts monday, ends november 1st on all purchases between 31 and 60 days old that have been driven less than 4,000 miles. so save your re

taking a look at overseas trading this morning, in tokyo, the nikkei spiked 201 points, while in hong kong, the hang seng zoomed up 218 points. >>> wall street was up for its fourth straight day wednesday after investors heard some good but not entirely unexpected news from the fed. the nation's central bank released its so-called beige book findings on wednesday. overall, while not every region is out of the woods, the economy is definitely stabilizing. but the labor market is still struggling and retailers have yet to see an increase in sales. >>> the dow had its second highest close of the year. industrials led with cat piller shares up 3%. broader s&p had its best day of the year. boeing saw its shares soar 2% after a company executive said its air cargo traffic should pick up next year. >>> tech stocks also jumped wednesday. ebay got a 4% boost after an analyst upgrade saw improvement in online auctions and used auto sales. >>> apple ceo steve jobs made his first public appearance in months since recovering from a liver transplant. however, shares well 1% following continued condition

while in hong kong the hang seng dipped 26 points. >>> still a little sore over the fed's plans to start pulling back its stimulus measures. investors were quick to sell after disappointing economic data came out thursday. an unexpected dros in existing home sales reminded wall street the road to recovery is full of potholes. analysts were caught off guard when a report said sales had actually dropped by 3% in august. stocks had started higher in the morning thanks to good news on jobless claims. economists had expected to see an increase in the number of newly laid off workers. turns out that figure fell 21,000 to the week before. still, though, that bit of good news wasn't enough to offset the bad, including the rising dollar, sending the price of oil 4.5%, closing just under $66 a barrel. shares of chevron took a bit of a hit losing nearly 1%. caterpillar moved 2% lower and led the day's losses on the dow. hewlett packard ceo said his company is poised to profit from sales but not enough, according to wall street. shares of the pc maker came in below estimates. investors react to rese

>>> finally, the late-night reviews are in on sarah palin's first overseas speech in hong kong. here's a sample -- >> today former alaska governor sarah palin gave a speech in china. that's right. yeah, the topic of her speech was, are you sure you're not japan? >> sarah palin, still a gift to late-night comedians. more of that on the "hardball sideshow." first, massachusetts governor deval patrick. thank you for your time. appreciate it. give me the degree of difficulty, if you could, one to ten, ten being the most difficult, in arriving who you chose to fill ted kennedy's senate seat? >> well, you know, mike, i give it probably an eight. you know, it's a headache in a way politically that i don't need, but i think when you think about the greater good, the interest of the commonwealth of massachusetts and the people -- people's interests who are being voted on in the next few weeks and months in the congress, we need that second voice to help john kerry and to have a full complement of votes on those issues. so i think having the depth of talent, political talent that we do in

hong kong, hundreds march for justice after police in china allegedly beat up three hong kong reportersvering ethnic protests on the chinese main land. the reporters say the cops kicked and punched them. the demonstrators rallying outside a police station and demanding a government investigation. nepal of, police clark clashing with protesters. they gathered outside the prime minister's office and speaking out against nepal's president and we're told some threw rocks at police and dozens were taken into custody. germany, violence erupts at the end of a day long street festival, hundreds of young people throwing stones and bottles at riot police, who responded by firing the massive water canons, luckily no one was hurt. just a few months ago, another street festival in this neighborhood ended in violence. turkey, folks returning home to see the damage left by massive floods, the insides of many homes and businesses covered in mud. rece recent heavy rains in the area were said to be the worst in eight decades and we're told the flooding killed dozens and nine people are still missing, tha

palin says she's thrilled because hong kong and asia are two of her favorite places. [ laughter ] i reads today. walt disney is buying marvel comics for $4 billion. this shouldn't change anything too much, except from now on, goofy will have the ability to shoot lasers from his eyes. [ laughter ] so, that's nothing much different there. a new study from the american chemical society finds that 90% of the u.s. paper money has traces of cocaine on it. the good news is someone finally found a way to raise the value of dollar. [ laughter ] [ imitates tony montana ] "say hello to my $20 bill." three fishermen from texas were rescued after their boat flipped over and they spent eight days at sea. they lived off crackers, gum, chips and beer. that doesn't sound like a fight for survival. it sounds like college. [ laughter ] in a new interview with rry king, chris brown says that he doesn't remember hitting rihanna at all. he said, "it's crazy to me. i'm, like, wow." [ laughter ] which is the same reaction larry king has whenever takes his own pulse. [ laughter ] he's, like -- [ imitates larry k

new survey from hong kong says chemical in green tea retarred bone breakdown. it boost the activity of enzyme that promote bone growth. >>> rain showers on and off all day today. what is in store for tonight, vytas has details in the sky watch forecast. >>reporter: we saw a little bit of clouds out there today. few showers and now few break in the clouds. sun trying to break through but showers we scan the sky over downtown baltimore right now looking at dry conditions a few high thin clouds and will continue to see that be the case the next couple hours. zooming out we see around the belt way. no rain to talk about. any showers in the area a little pop up shower. supposed to shower over towards north of silver spring around college park. looks like they have little drop there but not a lot of activity and will continue to see the showers break up in the overnight. we could get a little bit of fog gathering in the overnight that we have to keep an eye out for but noms the temperatures cooler out there. 66 right now in baltimore. 66 in and dc and 55 fwreers out

. >> let's get some more analysis now for mark michael son, vice chairman in hong kong. mark, thanks for joining us today. what do you make of this trade spat? how big a deal is this? well, i think we have a series of skirmishes now which we hope don't escalate up into a war. there will be some of this tit for tat for a while. it's hard to figure out who the players are. a couple of recent studies see a lot of protectionist measures, some not as object, some in terms of regulationes and barriers to trade that are not clearlily stated. >> mark, what do you make of china's vigorous response? just days after the u.s. is slapping tariffs on chinese products, you had china retaliating. it appears china is flexing its muscle much more aggressively and assertively in its trade sphere. >> well, part of it is a little bit of that in the sense that china is a powerful economic player, has apparently recovered more quickly than many other places from the financial downturn and it is flexing its muscles a little bit. but a lot of this is playing to domestic audiences, as well, just

proximity to russia and met the president of colombia that one time, she can now list, gave a speech in hong kongcouple of things to know about this speech that was given to a roomful of financial executives at an investors' forum. first, the speech was closed to the dress. however, we do have appropriate grainy and shaky footage from somebody's handycam -- >> i will call it like i see it and i will tell you candidly how main street, usa, and how perhaps my view of main street representing perhaps a lot of other people, how that affects you, your business. >> second interesting thing about this speech, sarah palin brought along as her adviser randy schuenemann, the controversial top foreign policy adviser from the mccain/palin campaign. mr. schuenemann made himself famous, at least famous for d.c., at least, when it turned out his lobbying firm signed a new contract with the republic of georgia on the same day that john mccain, the candidate for president, spoke to the president of georgia and released a statement supporting georgia, in what was about to become georgia's armed conflict with russi

hong kong's hang seng is lower. in london, the ftse opened higher.all street starts the day with the dow at 9742, after sliding 47 points 47 points yesterday. the the nasdaq closed down 7 points, to close to close at 2124. >>> the fed has >>> the fed has proposed changes that would block rate ar,t would block rate heights during the first year, after an account is opened. the rules would also ban increases on existing increases on existing card balances in most balances in most cases. the changes the changes are subject to public review. and would and would take effect next february. february. >>> the freefall in the housing market appears to be over. home price home prices rose for the third-straight month esird-straight month in july. low mortgage rates and bargains on foreclosed homes are s say another wrs. some experts say another wave of foreclosures w foreclosures will push prices even lower. >>> the idea of spending money this halloween is still a this halloween is still a little too frightening for many spendans. shoppers plan to spend an ave

hong kong's hang seng is higher. in london, the ftse opened slightly lower.wall street starts the day, they got back on the winning track monday, snapping a streak of three-straight down days. they jumped 124 points. its biggest gain in more than a month. the nasdaq rose nearly 40 points to close at 2130. >>> gas prices have fallen for seventh week in a row. the nationwide average dropped 5 cents in the past week, to $2.50. the prices at the pump are 31% lower than one year ago, thanks to growing supplies and slumping demand. >>> starting today, you can get starbucks coffee in an instant. the upscale coffee chain is rolling out its invant coffee nationwide today. via, will be available in two flavors. and it costs just under $1 a cup. it will be available at starbuck stores, as well as other retailers. and via will be in supermarkets next year. >> $1 a cup, is something we haven't heard in a while. >>> you can get the latest business news anytime an our website. abcnews.com. >>> and up next on tuesday. the broadway faux pas. the phone rings during a climatic

a hong kong on what is going on. 75 to 80 today and a few showers are starting to move in. tonight we will be cloudy again as we touchdown in the 60s. all right. here is a check on the numbers. 79 despite the clouds. 75 frederick. so really not that chilly. you would think on a cloudy day with rain threatening it would be chilly, not the case. as we look at the satellite and radar loop, you can see a batch of rain here. i will show you the rain creeping in rain working toward i-81. as for our weather, we will expect a couple of showers an the commute but especially later tonight they will be spotty tomorrow. definitely a cloudy day 83 and then 85. not as many showers on thursday. so as we zoom in, you can see the rain pretty intermittent here. downtown in georgia, the lane area our hearts go out to those people with the flooding rains they have had. basically from the same system moving here. we are too far east to be in the main band but the next couple we will be dodging the drops ourselves. we are not expecting flooding issues like down south. take you through this hour

speaking of the conservative core sarah palin addressed bankers and business executives in hong konging which a speech which she criticized president obama's policies and decisions and praised ronald reagan. is this a step back to the big stage for her? with the polarizing palin in action, numbers to purify the party in the south, what's the future of conservatism in his country? sam tan hous is editor of "the new york times" book review, author of "the death of conservatism." thanks for joining us. your book points a traditional threat in conservativism, fight for what's good and correct what isn't. not to be a constantly insurrectionist trouble-making party. no one is listening to you. >> i guess not, chris. by the way, gadhafi does a great borad imitation, i think. in south carolina you have a guy who doesn't need to be purified. he is true blue or true red ideological conservative. why are they going after him? he thought joe wilson dishonored the house that he's a member of. conservatism is supposed to be about honoring and respecting political traditions and institutions. that'

nobody should turn down a paid trip to hong kong.ght of her popularity, she has a easy time doing this. whether she has any plans for any kind of political office weather at the capitol in the congress or to run for the white house, she needs to shore up her resonates. this is a good thing for her to travel abroad. she should do as much as she can. energy is her strongest issue. she has challenges in pakistan, north korea, iran. she needs to shore up what she can on her resonate. >> it is interesting to look at her numbers -- in july she had a favorability rating of 38% and then on favorability of 58%. she has fallen from a year ago. at the convention she was new and shiny and everybody was fascinated by her. and then came "saturday night live" i would say and what was media bias. nancy pelosi's numbers are lower than hers and she is speaker of the house. >> the best thing for sarah palin to do is to not give television interviews for a long time. she should give the speeches in front of friendly audiences and bone up on her resume.

. >> that's part of it and also more hong kong focussed. >> okay. >> so a blend. >> it's the red chips as they call them. >> okay. go ahead, sorry to interrupt. >> steve all right, me jump in, because i think that part of your premise here is that the banking sector in china is not as healthy as people say it is and that would be very found -- sound foundation for having problems, but if i look at chinese banking sectoir see mpls around 1.8, 1.9%. expected to stay below 5% if the next three years. tremendous bank lending. i know that you will call that as something not sustainable. please tell me why it's bad. >> tim, that's if you believe those statistics about non-performing loans, do you? >> i do. and i tell you what it's not coming necessarily from the government oorktsz coming from the banks itselves, from banking analysts in parts of the world in asia they think that are pretty close to the story. >> i don't know. i would say regarding banks i frankly do not believe that the data's coming out of chin. at tractor of the chinese in terms of telling the truth about their banking sys