drew levinson reports on the man now considered a leng end. >> reporter: for nearly two decades, walter cronkite was the face of cbs news. it was in this building that he anchored the cbs evening news and became the man that america most trusted, the most trusted man in america. at 7:42 tonight walter cronkite died at his home from a long illness. he was 92. when america heard the old teletypes, they knew it was time for the news. >> this is the cbs evening news with walter cronkite. >> good evening. >> reporter: walter cronkite brought the world and beyond into our living rooms. >> tension is mounting here at cape canaveral. >> man on the moon, oh boy. >> thank you. >> boy. >> reporter: for nearly two decades, he was tank coreman, giving history its narrative. >> from dallas, texas, the flash apparently official, president kennedy died at 1:00 p.m. central standard time, 2:00 eastern standard time, some 38 minutes ago. >> reporter: because of his professionalism and gentle demeanor, viewers looked at him as one of the family. he was nicknamed uncle walter and called the most trusted ma

house not isshat tng and ces ment to them any attention and what, like a wo bainulent -ro-staar-o stes leng sarseaming into world affairs. >> there is a lot of anal lais, that s acs -- about the suth oesir on issue inside now,d is attention-getting and ther in thore the preir dent is standing in response and i say, again, the missile launches may ac9,ally be m britly about the misir les. and when you consider the cooperation between north korea and iran, on mrifk missiles, nsite likely on the nuclear side as well, it is shows this is a prbaslem that contiliges toprar more serious, even as our administration, proposes to cut expenditures for misir le d in e Ãapor thehis .s. and the allies >> eric: do you think that is wise. >> i think it is a terri ore mistake and i hope that in congress, they are able to reverse tytose cuts and sytow t suppoant. i think people in hawaii and alaska certainly have the missile de.sally e i think all on aericans will come to have me of -- as we see north korea and eraame increase the range and acdayracy of their ballistic missiles. >> eric: quoted in hawaii a t

start leng new information you need to know. >>> but first we head up to new york with the latest businessews with vanita niar. >> reporter: good morning. hopping your "moneyscope report" -- google is about to face the biggest challenge yet to its internet search dominance. microsoft and yahoo be expected to announce they are finally teeming up in a search partnership. microsoft has been trying to work out a deal with yahoo for years including an offer to buy the company. but even after joining forces the companies rank a distant second to google's search engine. >>> more encouraging signs from the housing market, home prices rose in may for the first time in three years. but experts warn it will still be a couple more months before we know if the turnaround is real. this follows mondays numbers showing new home sales surged last month. >>> general motors is ready to begin leasing cars again. the automaker will resume abandoning the program last year because of a decline in vehicle resale values. leasing accounts for about 20% of g.m.'s new car business in the u.s., providing financing, to

but how muill itos >>> d o mili, one leng how much manou me by lling off your jun we'll ow y how to turn you unwanted itemsmuch-need cash captionsd r by abc, c. >>> good morningama. >>ood morning. its saturday, july 1h.and youere born before a rtar, you remember arica ahorman, larghalife, t alwa unclwalt f generatio of aman he was pt t family brging the wor io r livi rooevy ngle night fr jfk assassinaon lainonhe moon, theietn r, we remembvidl >> ie '70s cronkitwas a name synonous th allf televion new was sonymous with a timofthe night. yowod call someofter onkiteand even the presidenthad this stementaying he was therthrough warsndiots, marcheanlestones calmi telling us what we neeto know. oun charlie gibs conders himhe gold sndd d join us in a moment toxpla w. >>> al, tharents in peaca, florida, w were raing 16hildn we laid toest sterday e sa day pe rele n details as to what t assailts he be after. >>> and littlewe will ta to an emarineho btled f a crazouain lion with a chain saw. an ama survival storjust ah > buwein this morning with passing of crkite, the an oerican wsmedied yesrd a92

window sales fell for the first time ever, forecasting more cal lengs on the horizon and higher loan losses. people using their credit cards less. delinquencies up about a percent from last year. outlook is still too early to call. that's what their ceo says. let's get over to scott wapner for more. >> weak earnings after the bell as you just mentioned. the futures don't look pretty for tomorrow morning. take a look at big ones today from the at&t and 3m, at&t wireless business is strong, goes be yind the iphone. the churn rate at a record low, 3m easily beat expectations. take a look at the move we've had, brood based over the last nine days or so across a number of sectors. when we rallied off the marlo, it was largely due to financials. this one was brood based across the board. materials tech and energy all rallies. let's go to ryan shactman. >> up 13% in that spread. everybody talking about 25% for the year. what about 55% since the market lows. the two big stories to the day, ebay and qualcomm. qualcomm was negative and now have a $200 million fine from south korea. they were d

. >> any of us whwho have seseed these committees for any leng of timcan say,well, of c crse the cia iss into denial and deceception. that's theirir business. and unfortunatelel that hasn't stopped at capitol hilll -- >> but they're tnto goingng off and operating on eir own and doing whatevever they nt to and having operations ththat electedd officials don'tnow anything out on these select commtees. congressmama good have you. >> theshouldn't be, thank yyou, ed. >> thank you, coressman rush lt with us. let's go insidethe cia w with a form ciaa officer jack rice. good to have u o totonight. explain to our listens, viers tonight,hat is the difference betetween opetional anan nonoperaonal? i meme, y either have this ogram or you don't. >> you're absolutelyight. i'i'm lookg at this not just as a ciaofficer but als as a a former prosecutor. you think about thihi as anan actionab step. ififi'm going to r a bank i don'n'have tbe in thehe bank, steal theemoney, take itack to the house an count itefore i'veve committ a crime. once you go downnhat th, once u takeone ststep, u hahave begun n is

there's a total leng it mat case for index funds too and that's what makes this defeatist argument so compelling. there is a grain of truth. in essence the case for index funds is it is very difficult in fact maybe impossible to beat the market. why try? empirically i know that's not the case but it's not a bad argument. it didn't start out as a case against managing your own money but against professional mutual fund managers which we agree with. most actively managed mutual funds don't consistently beat the market. if you're turning your money over to someone else why not put it in an index fund? that was the secret. i'm down with that. actively managed funds is a class with very few exceptions, the worst type of investing because there's an inherently misleading aspect to the way nearly every one of these funds operates. i know this. i was a professional. who's going to -- most people assume a mutual fund will get out of the market if the professional managers think there is a serious risk of the market falling. that is just untrue. a pro can't afford to under perform against his c

environmentduring the urth of july i read them at my home the, i studied thm, i've talked with her at leng on several ocasions. thas what i make my mind on. >>ehrer: senator, let me ask you this. ev to a casual observer who just is barely watching these hearings and paying with ju kind of mild attention to these hearings, it's very ear that yound all the democrats came in to support judge tomayor. most of the estions have been supportiv. you, senatorgrassley, you and your fello rpublicans have either declared questio -- serious estions, and it's been strictly by party. is that what's goi on here, senator leahy? and thiis aivision of party rather thanbout any legal issue? >> well, i ink that the -- as i said, a couple leers of the republican party said righ almost from the very first day at -- >> lehrer: i'talking about -- >> but i think it influenced some of his, and i think lot of people feelthey've got to respond tothat, but i hen't found anything wrongn the questions that have be asked, whether by senat grassley anydy else. i thk some of thehave been askedeveral times,ut i have no probl

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basketball stutu,, refeferngngo the medidia the nanational fullourt press, she saidhe sound priotities the lengror the win.n. if the winin is theresidency in 2012, , th diagram was offered today by deadspin.comomommy agz and ben cohen. and look, here we a are overer the righthe. palin avavoiding uand the rest of the media next to a slowdown against hike-fiver b bl l krtol and thenen the win f for what?t? nobo's'ssure. gornrnoralin may have gotten stst letterman i inn that diagm but in reity, the ball game may juststavave begununoo the mt mousaa state cardinalal >> president obabamas s in russ and we know thhis cause sarara palin sayay s can see him fomom her house, and ---- and d erere'a surprising anannocement over the weweekd. the gogovern o o aska, sarah palin, is leaving the office. e'e's stepping dodo.. [ applplause memethg i said? but s s- well, a lot of p pelele dodohihis. a lolot ublic figuresesoo thths. and i've triried to do it. it doesn't wor you blamame t the ededia whwhen y have trtroue, you blame the medi and todaday, as matter of fact she was up in a helicoptpter shooting wolf bl

the key is how can we help leaders identify the soldiers that are strug leng to make sure they can get to the proper care. >> i also want to point out to viewers, in all fairness, you came to ft. carson dealing with a lot of this. you were really thrown into the fire and you're doing remarkable work there to make a difference. general mark graham, i really appreciate your candidness here today. >> well, thank you, kyra. >>> well, they've come to america to get an education and learn about the u.s. but some foreign exchange students say they've seen an awful side of this story. our drew griffin has been investigating these claims of abuse. i think i'll go with the preferred package. good choice. only meineke lets you choose the brake service that's right for you. and save 50% on pads and shoes. meineke. >>> living with ex-cons, living in filthy flophouses, living with hardly any food. it's a pure horror story for five foreign exchange students who thought they would be living with all-american families for a year of high school in scranton, pennsylvania. their visit is now part of a cri

. >> i think he should buy him a row lengs at least. up next, week in review.assing of some famous dogs. at 155 miles per hour, andy roddick has the fastest serve in the history of professional tennis. so i've come to this court to challenge his speed. ...on the internet. i'll be using the 3g at&t laptopconnect card. he won't. so i can book travel plans faster, check my account balances faster. all on the go. i'm bill kurtis and i'm faster than andy roddick. (announcer) "switch to the nations fastest 3g network" "and get the at&t laptopconnect card for free". >>> oh, is it time? >> oh, my gosh. >> is it time, willie? >> apparently it's time for news you can't use. >> bring it on. >>> we're going to do the week in review right now. we'll start with an asian parliamentary brawl. at number three, the return of the parliamentary brawl. it has become a grand tradition in parliaments across asia. overreaction to a mild legislative disagreement. we don't really care why they were fighting in the south korean parliament this week. we're just glad they were. as is typic