joining us is the managing director and research analyst and julia boorsten is the business kor respondent. when are the bills you that understand how it is? >> business week is facing a decline in advertising, but there many that show it was a newer magazine. zag zeens were home domino, a home design magazine close as well. they face a distinct challenge. their advertisers are primarily auto advertisers and financial services and luckry goods. they are hurting particularly now because they are facing a hume challenge. it might make a lot of sense to them right now. >> when julia stops, the numbers she had with the industry overall. what about the financial serfs to forbes or fortune. were they weaker? >> business week has been performing with the sector and it has been suffering as yulia points out. it's not a recent phenomenon. the magazines have been losing share because of the competitive dynamic is so much more intense. >> woo ve breaking headlines and i want to get down to scott. we have a multibillion dollar lawsuit. >> big deal. this suit is being filed at $24 billion class action

i'm julia boorsten. >> hello, everyone. we have a rally under way on wall street. up about 148 points for the dow. there is a lot of hope out there and the question at this point is is it really justified? we will tackle that and ken lewis will speak for a couple of moments about the economy and there could be market-moving news and we are going to bring it to you. this we believe will surprise you. that is our show and it starts right now. >>> welcome to the show. the dow right now up about 152. one thing to emphasize and we have the game after the open. we were up as much as 175. bob da sanny is here with us and rick santelli at headquarters and at the nasdaq. you see right after 1:00 with things on sale. the market was dipping a little bit. volume picked up and this was the etf what the professionals buy. huh the dollar moving down and the jobless claims. we vnlt been at 1,000 since november 5th. up 2008. we have to go through with the 30. i give it a b plus. we had a b plus auction with the traders i talked to. an a plus. what am i talking about. the short end

sue herrera anchors and is joined by jane wells and julia boorsten. tune in right here on cnbc. health care is a consuming issue in washington today and it will be everybody day as they race to meet the august deadline for an overhaul of the health care system. that's why we are starting a special segment on street signs today. our own john harwood will give a daily update on everything you need to know about how much money they are going to tear out of us to pay for health care. john, thank you for being here. what's the latest? >> the latest is that this is hand to hand combat time and they are notuing handbags for this. in the tough bargaining between democrats and republicans. president obama offered the public face of the argument today when he came out again as he will every day talk on this issue and say he is committed to a plan that improves quality and cuts cost. >> we have agreed that our health reform bill will include dramatic measures to cut costs while improving quality. each of these bills improves oversight while cracking down on waste and each produces give awa

i'm julia boorsten. >>> welcome to the secretary hour of "power lunch." triple-digit rally for the dow and with financials and caterpillar, they are posting strong gains. >> i'm michelle cabrera. sonia sotomayor is on the house seat and we will look at what her in addition to the high court could mean for business. >> i'm bill sh and it's not my line, it's his. don't bet against us in his push for health care. he still considers key to reviving the economy and there signs the economic agenda may be stalling. we will have the view from d.c. >> breaking news about bernie madoff. he is on the move. the man sentenced to 150 years prison for theargest ponzi scheme in history left the center and on his way to an undisclosed prison where he will lilypend the rt of his life. madoff's attorney requested otisville in upstate new york, but it will not be known where he is sentenced. >> julia boorsten is working a story from los angeles. >> dst digital is a russian firm that invested $200 million in facebook, giving it a 2% stake in the company and they are beginning

i'm julia boorsten. >> i'm erin burnett. here's what wall street is looking at. what they want to hear from barney frank, talking about the newest compensation bill in congress. the first amendment protects their right to pedal drugs on television and magazines. they get a deduction too on their taxes. is this right or not? things that make you go hmmm. the man at the fund of funs that lost the most with bernie madoff bought a $30 million yacht. that's our show that begins now. >>> few key headlines today. we had better than expected and nothing to celebrate, but confidence is up and nothing to be excited about whatsoever. we had a treasury option. what is the most important headline and will stocks struggle into the close? down for the dow and s&p we will see if it will be a down day or not. let's get to the market reporters and find out. the big board game. thanks to all three of you. let's start with you, zane since you are focusing on one of the latest things that happened from the auction and what is a record week for issuance of american debt. what's your t

i'm julia boorsten. >> i'm erin burnett and welcome to friday. face off. we will not let 600 billion or trillion or more get spent without a fight. health care marries big time to america's bottom line and the two sides ready to take on the biggest two questions in a moment and congress voted to keep the auto dealerships open. even if they can't sell cars, they can't fail. politics will make the decision on what auto dealers stay in business. can a place be made for this decision that doesn't highlight a sort and self interested under belly of the system. today's focus, expanding. that's our show that begins now. >>> we begin with the averages and you heard julia referring to the turn around. now for the moment we had it. the dow is about 23 points and nasdaq and s&p are trading lower. what is mike talking about? a lot of earnings. crude is important up nearly $2 or almost 3% at 6376. matt nesto is on the floor and kevin is in chicago. mike huckman at the nasdaq. let's start with you matt nesto. bank of america and citigroup, we have been talking about tha

i'm julia boorsten. >> oh, boy we hope the really lasts. for the results of the auction here. welcome to the second hour and the summer rally resumed today. the dow, nasdaq and s&p hitting the highest levels of the year. ge, du pont, caterpillar among the winners today. however, sue, they faded the stock market resting on the grade. >> that's exactly right. absolutely right. >> a d, c, or maybe a b. >> this one is expected to be a tough sell. we will be following that. there is a lot for the market to chew on. not only the results of the $28 billion t note auction moments from now, but not only the numbers, but we also have wheeling and dealing going on. >> a lot more going on in congress right now when it comes to health care. the blue dog agenda has liberal lawmakers seeing red. we will speak on both sides of the aisle. >> steve leesman joins us and we can wait for results. the jobless claims providing an impetus that less bad is still good. >> three economists said this smls the recession is over. ending now. >> for went up and we knew it was going up because there was a lo

i'm julia boorsten. >>> welcome back to the second hour of "power lunch". breaking news on cit.lks with jpmorgan, short-term financing could be several billion and we will debate whether the troubled lender should be allowed to fail or should be bailed out. >> some of the loss of a drug reportedly taken by michael jackson just pulled from the market, we will see if there is impact on the stock involved. >> bombings rocking jakarta. we will have an interview with the ceo of one of the impacts that. and the economy is having on business. >> all that was ahead and we're working the cit story you call treasury to find out whether or not that may influence if they try to step in. >> let me recap the bidding. we heard earlier in the week they were back off the talks that had fallen through for overwhelming assistance. they did not rule out the government coming in if there were signs of capital being raised in addition to the financing. that's why there is a reason for caution. what seems to be talked about here is financing. that's one piece of the puzzle and the other is capital bei

i'm julia boorsten. >> welcome to the secretary hour of "power lunch". we are all here.stocks on the rise as wall street and caterpillar, alcoa, disney and many, many more. some of the those names are the big winners in the dow. >> shares are texas instruments are rising ahead of the after the bell earnings. yahoo and amazon are posting gains as well. we will preview the profit picture and waiting for president obama who is pulling out the stops on behalf of his health care plan set to issue a statement just minutes from now. we will bring you live coverage on an empty spot. >> he was making calls to treasury about this story. >> neal is in charge of the t.a.r.p. and said ultimately the federal government could equal $23 trillion. >> i see nothing in here that explains. >> i was sitting here.q >> there you go. >> looks like this is an extremist max muss. >> i would help you, but i would be getting press. >> it include the treasury purchases that the fed will make. >> that are is only $300 billion. we are at trillion. >> that are doesn't increase taxpayer exposure. let m

the news now, i'm julia boorsten. >>> welcome back to "power lunch". hampton pearson in washington where we learn that confidence among the nation's home builders is up. the home builders, wells fargo housing market index is up two points in july. the hmi stands at 17 and that's the highest it has been since last september. builders are seeing improvement in current sales, but there is angst about the future. the gain this front was entirely in the portion of the index, tracking current sales conditions, but expectations for the next six months are flat. naahp crew chief recognizes it will be a slow where you see negative forces. looking at the housing markets, they believe there won't be a true recovery until the housing crisis eases and there is credit for housing production. the index doubled since last december, but today's 17 compares to a confidence in the mid-70s in the 2004-2005 housing boom. >> you had to spoil it. i thought 2% was good, but it's a dramatic fall. i am surprised that we got that big of a move given the nervousness we have seen