we are in jackson hole wyoming. ♪ gerri: demoralized turn from tampa florida to jacksonville they shouldole wyoming where policy-makers and from around the world are gathering and he will deliver a major speech tomorrow. joining me now our market economists, well then bernanke tip his hand tomorrow? >> beyond what he already said i don't think he will break any new ground. monetary policy is very stimulative. gerri: we got a surprise of gdp with retailers reporting decent earnings. could bernanke say no? >> that is a great point*. the federal reserve has a signal and is prepared to provide guidance on interest rates or more liquidity. believes seemed favorable news on employment, sales and housing. it puts the fed in a bind providing bernanke will say the fed stands ready to provide more stimulus should the conditions merit to but it is a wait-and-see proposition. gerri: if mitt romney is elected, who would he tucson? >> mile is loathsome into people who have counsel and a vice but i would select someone who is a new person to the chairman position sharing my economic views. i have nobod

he is at a conference in jackson hole, wyoming. peter barnes brought us his comments.l keep his policy in place designed to boost the economy. whig factory when the fed will print money. former fed economist david jones says ben bernanke will be printing money later this year. the dow is back up a little bit. we are up 97 when ben's comments were made public we dropped to gain of 27 and now we are up 51. maybe the market was listening to david jones. we are back in 90 seconds with a look at the republicans's effort to appeal to latino voters. remember president obama won a huge majority among the hispanic vote last time around. you probably still have a majority this time around but maybe not as big. hey! did you know that honey nut cheerios has oats that can help lower cholesterol? and it tastes good? sure does! wow. it's the honey, it makes it taste so... well, would you look at the time... what's the rush? be happy. be healthy. stuart: more reaction and a romney bounce from this week's convention. according to the resin used in tracking poll of 11 key swing states m

focus likely the big speechç on friday, ben bernank expected to speak atç a conference in wyoming in jackson holekely hopefully to make some sort of indication as to what the feds' next move might be about the economy. the dow starts at 13,157, after rising 100 on friday. the nasdaq at 3069 up 16. i'm always jealous of our economic reporter this time of the year because he has to go report from jackson hole, wyoming. >> does what he can. you as well. thank you, bertha&ç >> san diego man has been identified as the first person mauled to death by a grizzly bear in alaska's denali national park. areas are closed after 49-year-old richard white was attacked there friday. >> first the back pack and then torn clothing was discovered by some other day hikers in the area. and they then turned around, hiked back to the road and reported it to park rangers. >> rangers sayç they found hr(tc photos of a grizzly taken from about 50 yards away. hikers are told to stay at least a quarter mile away from bears. rangers shot a 600-pound male bear that was guarding white's remains. tests confirm it was the same be

dennis: we have this fly fishing extravaganza in jackson hole, wyoming where the guys get together andchmooze. do you think bernanke will continue to muddle from his big address on friday out there or will he have a new one sentence phrase that sends stocks soaring? >> he may but he may not even, his speech may not even be on the near term economic outlook. he could end up writing a academic paper on a long-term issue in order to totally avoid the topic. that would not surprise me. dennis: oh, man. that would be so disappointing. wall street has a tantrum when the fed lets them down. might it be, gerald, instead of waiting for the fed we'll have to turn for solace to the european central bank or the central bank of china? do we need some other central bank in some other big economy that is also dormant and to step in here and do something loose? >> it is hard for any other central bank to move the u.s. economy. we could move the world but not the other way around. dennis: i like that. we can move the world but the no earth way around. you know what? european central bank and china cent

with us is fbn's peter barnes from jackson hole, wyoming.surprises what the federal reserve chairman had to say? i know some investors are reading into the speech that they will do something in september. peter? >> clearly he laid out the options and set the table for additional policy easing at some point because, listen, the economy is just not growing fast enough, just not creating enough jobs, and so, the postmortem on this it has been, it was kind of a dovish speech here. he did say that the fed stand, well provide additional policy accommodation as needed to promote stronger economic activity and sustained improvement in labor market conditions. they talked about all the options from quantitative easing to extending what is called forward guidance. they will keep interest rates, short-term rates low, exceptionally low through 2014. now they may extend that. that is on the agenda for the september 12th meeting. between now and then, adam, critically we have the august jobs report next friday. adam: for instance, politicians like senator

that's when federal reserve chairman ben bernanke gives a speech in jackson hole, wyoming to economists and central bankers. investors are hoping he'll indicate he's ready to do a new round of bond purchases, designed to keep interest rates low and encourage more borrowing. but, floor broker doreen mogavero says that's unlikely, given the slightly brighter outlook for the economy. >> this year's a little different. you have an election coming up and people already accused him of being very political in the event that he does come out and say something at this particular meeting. but, i think mr. bernanke will be steadfast and say he will be there to prop us up should we need it. >> reporter: in 2010, bernanke used the rocky mountain venue to hint at a second round of bond purchases, dubbed quantitative easing or qe-2. his comments sparked a nice rally for the stock market. this year stocks have been in rally mode all summer long, as traders speculate some type of fed action will happen by september. the thinking is that bernanke would lay it out at jackson hole, and do it at the central

you might get that hit at the jackson hole wyoming meeting that kicks off this week. ahead of that, u.s. central bank says the country's economy continues to grow at a moderate pace. a recovery in employment is slowing. the federal reserve released on the economic conditions from july to early august. this is based on surveys from 12 district banks across the nation. the detail the report known as the beige books personal consumption rose in much of the districts. the report also notes a recovery in the real estate market. housing starts and home prices are on the rise. it points to a slowdown in the factor citing ruced sales and orders. it also says employment has not seen a major improvement. so the assessment is slightly more cautious than the previous one released in july that pointed towards a modest expansion. investors are focusing on whether the fed will take monetary easing measures at the next policy meeting starting on september 12th. separately the pace of economic growth was revised up slightly from the april to june period but remains sluggish compared t

that might remain in a tight range ahead of the jackson hole, wyoming meeting on friday and saturday. also euro/yen holding around the mid-98 yen levels. we'll keep track of that as well. >> and ramin, as much as markets may want to hear from bernanke, what's the likelihood he'll say something that will move the markets? >> there is the fed actually meeting on september 12th and 13th next month. there's also the u.s. jobs numbers for august which is due out next week. it might just hold off saying anything and leaving words of more resonance for the actual fed meeting next month. and also bernanke may want to hear what mario dragii has to say as well. that's all from me. back to you. >> thanks, ramin. and i'll be back next hour with the latest on the markets. but for now back to catherine. >> thanks very much. >>> doctors seeking to abosh nuclea wponsnded a three-day convention in hiroshima on wednesday. they discussed how to pass on to future generations the experiences of the bombings of hiroshima and nagasaki. some have personal reasons. >> translator: the doctors call themselves i

profits from american businesses it out, on thursday, the federal reserve's annual conference in jackson hole, wyomingthey will watch for any clues by ben bernanke about stimulus from the fed to come. and consumer sentiment will be out on friday. show me the money in washington. a list of congress's richest members. at the top, michael mccall with $290 million. he is the son-in-law of the clear channel communications. and john kerry is the richest democrat. that will do it for us today. thank you so much for being with me. my guest next week is hilda salease. i'll see you again next weekend, keep it right here everybody. ♪

monday waiting to hear fed chief ben bernanke's remarks to central bankers later this week in jackson hole, wyoming. expectations are the fed will take some kind of action to stimulate the economy next month. >>> apple was monday's star hitting an all-time high of $680 a share following its billion dollar judgment. and companies using google's an destroyed system now have to consider design changes. >>> the dow was led down by ibm which agreed to buy qnexa for $1.3 billion. and hudson city for $3.7 billion, the you larnlgt largest bank acquisition this year. >>> armed sales last year making 78% of all weapon sales and over-66 billion a record high. saudi arabia bought the most arms of any country spending almost $34 billion on weapons with 99% of that going to the u.s. >>> and finally, these days every the rich are cutting back. tiffany lowered its outlook for the year monday due to slow sales. >>> coming up, the twins put up a goose egg, the os notch up the pressure and the jays snap a send game skid. plus an unfriendly welcome to the national league for a former red sox pitcher. your early mornin

we'll be out the jackson hole wyoming in a few minutes. before that, unemployment in the eurozone has reached an all time high. highest level since records began for the euro area. 11.3% unemployment rate. june figure was revised up to that point as well. despite that number and despite we saw inflation come in stronger today as well, eurozone cpi 2.6%. the euro dollar is up at a session high, 1.25. the dollar as we go towards ben bernanke's speech is weaker across the board. anticipation of course has been growing all week. federal chairman, ben bernanke giving that speech today at 10:00 eastern. steve liesman has been there. he's been previewing what mr. bernanke may or may not say. >> fed chairman ben bernanke will open the possibility of additional quantitative easing in his most watched speech this morning. b bern during move of hhis tenus chairman doesn't front run the committee. there's a payroll report and several reports on the services sector and manufacturing. plus there will be a pretty long and drawn out debate on the cost and

we have ben bernanke in jackson hole, wyoming, hinting strongly today that the fed will provide more,/unquote, stimulus. i guess that's quantitative easing. then in tampa, florida, where i spent the week, the platform committee is adopting a gold commission, possibly a metallic standard. a stable dollar. now who is right and who's wrong here? bernanke in jackson hole or the platform for the gold commission? >> well, the platform committee certainly was right. almost every american september for the bureaucrats in washington, larry understand that what america needs is a dollar as good as gold. we can have tax reform, tax rate reduction, simplification of regulation, cut government spending, but unless we have a four-legged platform it won't be stable. that's a dollar as good as gold. >> it's interesting. mitt romney has spoken, certainly in my interviews and others that he wants a new man at the fed. from what i gather he favors the gold commission. it would not have gone through unless his people ok'd it. >> i think that's right. he made it clear that when elected i'm optimistic he's

now measures by central bankers, of course is a big focus with the jackson hole, wyoming meeting kicking off on friday. interestingly the european central bank president mario dragge pulled out of the meeting, and the markets really trying to see or read into that speculation, of course. now it does, in fact, have a meeting in early september, and the markets may feel that they may be keeping some keep announcements that they don't really need to reveal at the meeting in jackson hole. yuko. >> along with the bond markets, currency markets give an early indication of what market reactions are. where do we stand this wednesday morning here in tokyo? >> let's have a look at some of the currency pairs. dollar yen currently unchanged, but having a look at the euro yen at the bottom of the streen, 898.75 to 76. that was trading at the lower level when is tokyo stocks closed yesterday. in fact, dipping below 98. traders may bet that the ecb might be waiting to make some announcements at its meeting next week. we'll see how all of that pans out. back to you, yuko. >> thanks, ramin. >>> honda mot

. >>> the federal reserve's conference today in jackson hole, wyoming. ben bernanke is not expected to announce any moves to shore up the economy. but that the central bank is actively considering another round of buying bonds. >>> new jobs, they are being created. but they're not necessarily good jobs. a study finds that most of the new jobs pay poorly. while the majority of the jobs lost during the recession were mid-level. and jobs traditionally taken by young people are being filled by older workers who lost more lucrative jobs. >>> the madden nfl 13 video game scored a touchdown for the series this week. it sold 900,000 copies on its first day on sale. that's a record for the franchise. >> that's a 7% increase over last year. it also set a record for online usage. the reviews have been generally good. and this edition has several new features. >> everyone loves that game. >>> as we head into what's usually a slow weekend at the movies for the holiday, disney is increasing the number of theaters showing two of its films. "the avengers" and "brave," h

investors around the world had been waiting eagerly to hear the fed chairman's speech in jackson hole wyoming and stocks in the u.s. rallied in reaction. here are the highlights: bernanke said even though the economy has benefited from fed policies over the past few years. the outlook is still quote "far from satisfactory." he described the high unemployment rate a grave concern. he believes the fed should continue using non-traditional policieso spurrowth. and bernanke concluded by saying the fed will provide additional policy accommodation as needed. >> tom: that statement was a buy signal for investors. they bought up stocks on the belief that the fed is on the verge of taking more action to stimulate the economy. blue chips rallied triple digits but pulled back by the close. the dow jumped 90 points. the nasdaq added 18 and the s&p rose seven. traders liked what they heard from the bernanke today. >> traders saw some optimism with the last line of bernanke's speech after some positive comments that the e.c.b. might be getting close to buying sovereign bonds. don't worry the fire departmen

speaking at a symposium in jackson hole, wyoming, bernanke says the fed is prepared to do more to spur stronger growth. however, he stopped short of explaining exactly what that action might be. >>> an innocent teenager shot and killed inside her own bedroom in prince george's county, police say they are using every resource to try and frac down whoever killed amber stanley and -- track down whoever killed amber stanley and today officers are scouring that kettering neighborhood on the same day the young woman was laid to rest. >> reporter: i'm surae chinn in kentland, maryland where family and friends are saying good-bye to 17-year-old amber stanley who was gunned down in her home while police search for her killer. >> i'm hurt because i can't stop the little ones from hurting. i can't make it right. >> reporter: amber stanley's aunt can't explain to the children and their family why their loved one's life was snatched from them. >> no peace because we don't know if they're coming back. >> reporter: today the family had to say a final farewell to the bright talented high school studen

course with the fomc meeting minutes out of the way now, the next focus may likely be on the jackson hole, wyoming, economic symposium at the end of this month, where fed chairman bernanke will be giving a speech, and he tends to give a little bit of information or hints as to what he or the federal reserve may be inclined to do, so that could be another focus. let's shift to the euro and in europe, of course, key meetings there between german chancellor merkel and the greek prime minister samaras on friday and that will give further indications as to the direction of the euro and of course eurozone debt and bond yield, so still some key events there to look forward to for the markets but for now the nikkei and the topix in the first few minutes of trading lower this thursday morning. back to you, yongghi. >> all right, ramin, thank you very much. that was ramin mellegard at the tokyo stock exchange. >>> toyota motor will join hands with u.s. power company duke energy at a u.s. non-profit organization to develop efficient charging systems. under the project toyota will lease the prius to some hous

this is what the market mix of the statements of ben bernanke, the fed chairman, in jackson hole, wyoming. his speech caused the stock market in frankfurt to end this last trading day of the week on the upside. the euro also was again up on statements by the french ecb director, fuelling speculation that next week would be -- bring a major plan by the european central bank, a plan which hopefully supports the government's in the eurozone to come to an end of the euro crisis -- the governments in the eurozone. >> the dax closed the day up over 1%, 6970. the euro stoxx 50 closing of 1.5%. the dow jones is currently going up over 0.5%. the euro is trading at $1.2574. in the wake of the financial crisis, the eu has moved to tightening banking regulations. >> a number of european banks overextend themselves and were bailed out as they were on the verge of collapsing on the mountains of bad debt -- a number of european banks over extended themselves. >> many are now calling for a eurozone banking authority to be established. >> spain's bank is one of many struggling in the face of the european

bernanke is expected to clarify his views on august 31, he'll be speaking at a fed conference in jackson hole wyoming. so, what does all this mean for the economy and the markets. we turn to two experts to answer that: brian wesbury, chief economist at first trust advisors and john manley, chief equity strategist at wells fargo advantage funds. gentlemen, thanks for joining us let me begin with you, brian. is more fed stimulus coming, and what does fairly soon mean in fed-speak? >> yeah. well, it can mean anything. they have been saying fairly soon now for almost the past year, susie. people have been talking about this the qe-3. i personally don't think it's coming. one of the key reasons is this meet, the minutes were released. it was about two weeks ago, and that was before the employment report, which was much stronger than expected, before a very strong retail sales report, and before a very song industrial production report. so, the economy has gotten better, and as a result, i don't think the fed is going to have the justification that it wants to do another round of quantitative easing. >> su

getting a bit of a boost this morning after ben bernanke delivered a major policy speech in jackson hole, wyomingbernanke said the fed would be ready to step in with further stimulus if that's needed and the markets moved higher. now, this is not the first time he's said that. he says this all the time, and each time traders love it. it pushed the markets and the dow higher on their last day of august. it's really been fairly quiet this month. volume traded very low. that's normal. netflix stock lower after hbo said it would offer its streaming app to northern europe, a market that netflix just entered as well. and this fellow signed a billion-dollar verdict against samsung in silicon valley patent trial of the century. he was the foreman of the apple versus samsung trial. he said he was surprised he got picked for jury at all. hogan will be one of my guests this week on "press here." that's sunday morning after "meet the press." back to you. >> do not want to miss scott's show. thank you. >>> isaac may have passed, but the storm is still causing concern. louisiana state officials fear new floods

were marking time until that big speech friday by federal reserve chairman ben bernanke in jackson hole, wyoming. the dow fell 33 points, but the nasdaq gained three and the s&p 500 was down just over half a point. two regional federal reserve surveys found a mixed picture for manufacturers. the dallas federal reserve bank reported this month manufacturing conditions softened in texas. but chicago-area manufacturing picked up in july. >> susie: wall street kicked off the week with a bunch of deals valued at nearly $8 billion. hertz is finally driving to the alter with "dollar thrifty". the on-again-off-again marriage has been in the works for two years. the $2.5 billion dollar deal now puts 95% of the u.s. rental car market in the hands of three companies. in tech, i.b.m. is paying $1 billion to buy kenexa. it makes human resources software applications. but today's biggest deal was in banking: m&t is buying jersey's hudson city bancorp for $3.7 billion in cash and stock. it's the biggest bank deal since the recession. >> tom: with the hudson city merger, m&t now joins the ranks of so-called sup

bernanke will unveil any new policy moves when he speaks at a federal reserve conference in jackson hole wyoming next friday. he's chief economist of fact and opinion economics. bob, nice to see you. you know, people are really expecting something important from bernanke next friday, and in fact, the title of his speech, i understand, is, "monetary policy since the great crisis." you're doubtful that anything big is going to come out of this. tell us why. >> well, you know, i think what's going to happen is bernanke is very big on getting us perspective, and he's going to talk about what policies have been and how they've been effective and how they've aided theconomy. he'll probably give us some estimates of how much better things are than what they could have been if the fed hadn't done anything. i don't think he's going to put new policies on table. i think that he's very happy to tell people he can do more. i think he may even suggest the feds look to see if there are other things it can do that it hasn't done yet to keep hopes up, but the fed has used its most potent ammunition and now has

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anticipation of fed chairman ben bernanke the speech is due to talk in around one half hours in jackson hole wyoming at a summit of central bankers and we're all actually expecting any kind of hint as to economic stimulus because two years ago at exactly the same meeting. ben bernanke he gave a hint that there will be a new wave of quantitative easing and developed on that bit later for out the year . now one of european union's a few growth stories poland is feeling the squeeze of the downturn the country's second quarter growth eased to two point four percent the lowest in three years and significantly below the forecast poland's g.d.p. kept expanding over the last few years well much of the e.u. showed negative growth but a series of gloomy economic indicators show that the so-called economic miracle is coming to an end. or let's go further down to the russian markets now where it's the old looking kind of undecided today with my six going down point six percent but the r.t.s. is a bit higher on a stronger ruble and russian markets are not having a good week indeed it seems that the previous week