we'll get another check of the morning's top headlines with cnbc's melissa francis. >>> a raging wildfiren size due to high winds, expected to continue today. nbc's miguel almaguer is there with the latest. good morning. >> reporter: melissa, good morning. firefighters are calling this, quote, the perfect storm. they say dry brush, low humidity and hot temperatures are really fueling this blaze. it has now scorched more than 20,000 acres. it is said to be only 5% contained. the big headline is that this fire really tripled in size overnight. it is now threatening some 10,000 homes, 4,000 homes have been evacuated. that number could grow as the day goes on. the governor has declared a state of emergency, the price tag to fight this fire is over $1 million right now. it's expected to burn all the way into september for another week. firefighters have a long day ahead of them. it's going to be a very tough battle on the front lines, melissa. >> miguel almaguer, thanks so much. >>> police in georgia are investigating the scene of gruesome murders found inside a home. there have been no arrest

i'm contessa brewer. >> i'm melissa francis. up next. >>> we've been watching missouri live throughout the day. this is msnbc. ♪ bicycle, what are we waiting for? the flowers are blooming. the air is sweet. and zyrtec® starts... relieving my allergies... 2 hours faster than claritin®. my worst symptoms feel better, indoors and outdoors. with zyrtec®, the fastest... 24-hour allergy medicine, i promise not to wait as long to go for our ride. zyrtec® works fast, so i can love the air™.

i'm melissa francis. michael vick is back in the nfl, signing with the philadelphia eagles. we'll look at what this means for the team's image and the nfl. this is "the call" on cnbc. >>> all right. stocks are at a loss this morning, on weaker than expected economic data. i don't know, consumer sentiment was light, industrial production up for the first time in eight or nine months. the dow, however, off about 1.5%, down 132 points. the s&p following dutifully behind, down 14.90. the nasdaq also lighter. by whatever it's lighter by. 32 points. all down 1.5%. oil prices, however, are on the soft side, as melissa francis correctly predicted to me just a few moments ago. $68.66 gee whiz, trish, production up for the first time since last fall. consumer prices flat. doesn't look so bad to me. of. >> hey, well, you know, there is this mixed data, larry and i think that's what has some folks confused right now. you had a lot of positive data last week in terms of the unemployment reports, in terms of gdp. also saw better than expected productivity reports, which tends to happen at

melissa francis, back to you. >> all right. thanks, rick santelli. taking a look at today's business headlines, the institute for supply management's manufacturing index rising more than four points in june, drew better than expected reading of 48.9. while any reading below 50 indicates contraction in manufacturing, it does mark the slowest pace of decline since last august. meanwhile, the commerce department reports construction spending in june unexpectedly rose by .3% to $966 billion because of increase in residential building. analysts had been calling for a decline of .5%. >>> and the government's cash for clunkers program helping to drive auto sales last month. general motors sales plummeting 19% year over year. but results w w up 12% comparedd to june. the fifth consecutive month over-month increase. ford sales providing 2.3%. the automaker's first increase in nearly two years. and toyota's seeing a decline of 11% from a year ago, but sales jumping 28% from june. chrysler sales falling 9% compared to last year.r. sales, however, did soar 30% m

good sign. >> melissa francis, thanks. you'll be at the newsdesk. >> here all day. >> put to you work. thanks. >>> now here's jenna. >>> lester, thanks. >>> to the brewing battle over health care as members of congress hold town hall meetings in their directs. shouting reached a fever pitch. nbc's kelly o'donnell has more. >> reporter: temperatures rising across the country. from florida -- to michigan -- texas to colorado. the town hall meeting is democracy 101. >> we're not a member of a mob. >> reporter: forums for free speech. >> i actually have read this bill. >> reporter: but many turned into free for alls. [ chanting ] >> at one point it felt like people were more worried about drowning each other out than listening. >> reporter: the crowd shoving to get in and where members of congress like michigan democrat dingle get shouted down. much of the passion and protests comes from conservative voices opposed to the democrats' plan for a government-run option for held care. [ chanting ] the democratic national committee

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melissa francis is up next. >>> it is 4:00 p.m. on wall street. do you know where your money is? welcome to "the closing bell." i'm melissa trins in today for maria bartiromo. and here's what we're following at the close. the summer rally stalling today after disappointing economic data and profit taking. but stocks are off their lows of the session. the main data culprit, a weak reading on the services sector, which has now contracted for ten consecutive months. and cisco and newscorp ready to report their latest earnings. we'll have instant analysis and reaction just as soon as the numbers hit the wires. here's a look at how we finished the day on wall street. the dow slumping here at the close. it's down about 40 points. about .4%. almost half a percentage point. the nasdaq down almost a full percentage point. and sft s&p 500 down almost a third of 1%. bob, give us the recap. >> here's what's important. while the dow was down, there's actually a lot of excitement in several sectors. energy sectors were weak throughout the day. the big story was in the continuing strength in fin

for that, cnbc's melissa francis is waiting patiently at the news desk. >>> good morning. we begin in japan where strong earthquake has rocked the capital of tokyo. the 6.9 quake rattled homes and buildings just before 8:00 in the evening local time. there have been no reports yet of damage or casualties. >>> meanwhile in china, 1 million people have been evacuated as they are bracing for a typhoon. the storm welcome wreaked havoc on taiwan on saturday where an entire hotel collapsed from the torrential rains. the hotel was reportedly evacuated before the collapse and the typhoon brought the worst flooding to taiwan in 50 years. >>> back here at home, a riot breaking out late last night at a prison in california. prison officials say the fight involved 1,300 inmates at a medium security facility in chino, california. the inmates evacuated into a yard as a fire erupted in one of the housing eunice. several inmates have been taken to the hospital. >>> finally, secretary of state hillary clinton just can't stop dancing on her tour of africa. the secretary was toe-tapping with

i'm contessa brewer. >> and i'm melissa francis.e schools diploma factories? we're going to talk to a guy who conducted an experiment and a cat earned a high school diploma. >>> and a deal's in the work for brett favre to play football for his former rivals. what is with the legendary athletes retiring, making a big old scene and then they just can't stay away from the -- >> drama. drama. >>> but the big story, in two days, new rules for credit cards go into effect. some are rushing to raise their rates. >> starting thursday, they have to give you 45 days notice if they're going to increase rates. they can increase your minimum payment but not more than double what it was, and they have to mail bills 21 days before the due date. a financial analyst, bob sullivan writes for msnbc.com. let's start with you. what's with these banks and the fees and rushing to hike them before these new rules go into effect? >> this is one of those unusual situations, contessa and melissa where everybody's guilty. at the root of this is that consumers h

i'm melissa francis in for maria bartiromo at cnbc global headquarters. in the markets right now, worries about the economy and consumer spending are weighing on wall street. stocks are down as we look to close out the week. take a look at the major indices here as we go with one hour of trading left. you can see the dow is down triple digits, 128 points, about 1 1/3%. the nasdaq right now trading to the down side as well. it's down better than 35 points. almost two percentage points. about 1 3/4 percentage points p and about 1.4% on the s&p sitting below 1,000. matt. >> thanks, melissa. appreciate it. lots of things going on eyre. let's get to the numbers. let's get to the action. we've got you covered on all fronts here today. we begin with our market reports right here on the new york stock exchange with mr. bob pisani. >> hello, matthew. and folks, we're down but we're off the lows here. let's stake a look at what's going on. i'll show you maybe hopes for a bit of a moveup in the last hour here. stocks are weak, but they're off their lows. that's the

continuing with melissa francis. >>> it is 4:00 p.m. on wall street. do you know where your money is? welcome to "the closing bell." i'm melissa francis in for maria bartiromo and here's what we are following at the close. stocks retreating after two days of gains amid mixed economic data. although we have recovered from the lows of the day. what really spooked investors, though, was a dropping consumer sentiment raising fresh concerns about consumer spending. and oil getting crushed today along with the broader market. crude down more than $3 or 4.3% at the close to close at $67.51 a barrel. here's a look at how we finished the day on wall street. the dow closing down on the day but likely well off the lows of the session. take a look. we had been down about 130 points an hour ago. making our way back a little bit at he the close. down 76 points, .8%. 9,321 the last trade. the nasdaq down 23 points, about 1.2%. and the s&p 500 only down about 8 at the close k still above 1,000. let's get more on today's action. bob pisani's our eye on the floor of the

i'm melissa francis. i'll see you later today. >> and i'm larry kudlow. "power lunch" is up next. >>> the white house says president obama still expects the jobless rate to rise 10% this year. the president has signed into law the bill that gives the cash for clunkers program an additional $2 billion in funding. >>> and aig shares up another 20% today on top of the 74% gain the last two sessions. the insurer reported its first quarterly profit since 2007. that's cnbc.com news now, i'm courtney reagan.  >>> becky quick, how the heck are you? >> i am great, you guys. thank you for inviting me today. >> fun to have you here while sue is off. >> thrilled to have you. welcome to "power lunch." i'm bill griffeth. the dow, the s&p touching highs for the year on track for a fourth straight week of gains along with the nasdaq. >> and i'm michelle caruso-cabrera. investors like what they see in those jobs numbers. what do you do now? is it time to take profits off the table, or should you jump in? we're going to gather our "power lunch" task force. >> i'm becky

melissa francis, back to you. >> no, you don't. rick santelli, thanks very much. taking a look at today's business headlines the labor department reports july non-farm payrolls fell by 240,000 last no-month. that is far fewer than the drop of 320,000 economists were expecting. that helped the unemployment rate unexpectedly dip to 9.4%. it is the first time that's fallen in 15 months. the white house, however, still says it expected unemployment to hit 10% this year. coming up, the ceo of careerbuilder.com tells us where he is seeing positive sign of growth for jobs. merck and schering-plough shareholders overwhelmingly approving their merger. over 99% of investors in both companies okaying the deal. if approved by the ftc, merck will become the world's second largest drugmaker. and target is breaking up with amazon.com. the retailer announcing it will build and manage a new target.com platform that will be launched in two years. amazon has been running target's website since 2001. bob. >> melissa, thanks very much. let's talk about what's going on today in a very

for that we turn to cnbc's melissa francis at the newsdesk. >> good morning, everyone.e begin with danny now downgraded to a tropical depression but still causing dangerous surf and rip currents up and down the east coast. the weather channel's jim cantore joins us from chatham, massachusetts with more. good morning, jim. >> reporter: yeah, good morning, melissa. it was a rough day for surf yesterday. the outer banks of north carolina. surfer, a great thing, you're out in the water. a beachgoer, a lousy weekend complements of the second named storm in so many weeks here. once again in massachusetts beaches closed down. certainly on a day when we remember when the worst hurricane to ever hit the united states, danny, will never get a chance to reach that status. reporting from the southeastern part of massachusetts, that's rather wet and cold this morning, jim cantore. back to you. >> thanks. >>> danny's rough surf along the north carolina coast have wes cuers searching for a 12-year-old boy body boarding just before disappearing in the water. waves only about five feet

cnbc's melissa francis is at the new york stock exchange. so, melissa, what are we watching today?> well, the bulls really taking control of summer. we want to see if they're going to charge through here to the end. stocks up eight days in a row. setting the tone today, dell computers. the company beat street expectations for second quarter earnings. the ceo said that consumers are buying computers but businesses are not. and finally, we're watching aig as well. we're all investors in this company as taxpayers. the stock shot up 26% yesterday. no one's really sure why. could have been a short sweep, but definitely one to watch. back to you. >> melissa francis at the new york stock exchange, thank you. >>> a pennsylvania mother who claims she and her daughter had been carjacked back in may pleaded guilty to criminal charges thursday. bonnie sweet was sentenced to 9 to 20 months in prison. they were not carjacked, but instead had flown to disney world. later, her father scuffled with tv news crews as he left the court. no one was seriously hurt. 7:21 right now. back over to matt, ann

i'm melissa francis. >> this is cnbc.com news now. >> they're citing his cooperation as an informant involving the tax evasion case against the bank. a warn has been issued to johnson & johnson drug development unit saying failure to properly oversee trials in experimental drugs. and the ins of the recovery has begun, but may be limited in the aftermath of the financial crisis. this is cnbc.com news now. i'm courtney reagan. >>> holy cow, we have news breaking all over the place, which we'll get to in a moment here, but first we welcome you to "power lunch." i'm bill griffith. stocks with a modest raise. volatilities returning to the markets. will we see more ahead. one key indicator. >> same sue herrera, will the stock markets lift or are we heading into a bigger dip? we go hunting for opportunities in this market. >> and it is david against goliath in the stocks business. we have a cnbc exclusive interview. find out why he is talking smack about mcdonald's. mu much. >> i'm rebecca jarvis. a lot of retailers -- we'll look at what worked for the likes of home depot and target and wha

i'm melissa francis in for maria bartiromo at cnbc global headquarters. in the markets right now we are seeing strength here in the final hour. the s&p 500 crossing over the 1,000 mark for the first time since november. oil and metal stocks amog mong the movers today. take a look at the major indices today, really having a bullish day out there. 9274 is the last level on the dow with more than 1%. triple digits on the day, 102 points. the nasdaq right now is also charging higher. it's up about 24 points on the day. and the s&p 500, here comes the nasdaq, it's up 24 points, like we said.. about 1.2%. but over 2,000. in the s&p 500 over 1,000 right now. bob, i imagine pretty good mood on the floor today. >> yeah, this is nts one of the things where you get these fluff rallies in the middle of the day and everybody's scratching their head. there are better signs today on the economic front can somewhat better commentary from the autos and financials. let's quickly run through what's going on because there's a number of components here that are moving the mar

hopes of the world recession being coming easing or becoming over, as for wall street, cnbc's melissa francis at the new york stock exchange with more. melissa, there are some clues about consumer confidence yesterday, and also coming up today. >> that's right. retail sales came in yesterday, worse than expected. consumers keeping a close eye on their wallets. not surprising when you see the weekly jobless number, which also came in a little worse than expected. the market watching consumer sentiment and the consumer price index, as well. there is some good news overseas, as you mentioned. the hong kong government saying that their economy is out of recession. gdp there jumps 3.3% compared to the last quarter. japan's nikkei closing at a ten-month high, as well. >> melissa francis, thanks. >>> also in the news, olympic goldist michael phelps is okay after his suv collided with another vehicle last night in baltimore. the other driver was shaken up and taken to a hospital but police say no alcohol involved and no citations were issued. >>> and legendary guitarist les paul is being remembered t

i'm trish reagan along with melissa francis and larry kudlow.e want to get you caught up on the markets. right now 17 points, just barely crossed into positive territory. meanwhile the s&p, you can see off a quarter of a percent there, 1,007. latest level. ho hormel, mcdonald's, nasdaq off 5 points, 1994 the latest trade. a strong quarter for price line.com. they say its quarterly profit in revenue rose on strong bookings. stock up 100%. right now stock trading up almost 13 points, 16.9 -- almost 17 points. $8 a share. price line.com president and ceo jeff boyd joins us right now for a first on cnbc interview. great to see you. congratulations on your quarter. >> thank you very much. >> jeff, what's really this all about here? we're in the midst of what has been the worst recession since the great depression. how is it that an online travel site can actually be seeing such an increase in bookings at a time like this? >> for some time things helping online travel in our business going forward have tended to overshadow some of the negatives of the

. >> street signs with melissa francis begins in 30 seconds. see you tomorrow. california gets a loan from jpmorgan chase that it will use to pay i being ous. freddie mac said the average fixed rate mortgage is 5.1%, up two basis points. they had a 36 million dollar fine against the pitchman and he was in violation of a prior order of misleading advertising and felt the fine was inappropriate. that's the news now. i'm julia boorsten. >> you are looking live with the stock exchange with two hours left in the trading day. the dow is back in the black staging a triple-digit turn around. the stock of the day up 25%. we will have the mystery times in for erin burnett. here's what the street is talking about at this hour. clunker nomices. it worked for cars and is it a proposed program doomed to fail? it's the dinosaur of dot-comes. should craig's list get with the program? is it time for an obama beer program? should he keep bud light from costing more? all that and a look at why the spiraling deficit could be a good thing, but first to the turn around on the street.

. >> i'm melissa francis in for maria bartiromo at cnbc global headquarters.in the markets right now stocks are getting a lift today following those better than dppd july jobs numbers. also rallying today the dollar as well as commodities. the major indices, take a look right now at how the dow is trading. up triple digits. 150 points. 9,406. the nasdaq also trading to the plus side. having quite a good day. we'll show you that chart. it is up about 1.6% there, 32 points, 2,005. and also the s&p, 1 3/4%. and of course above the 1,000 mark. >> we have talked for the last several weeks that risk is creeping back into the market, or the appetite for risk. but today it's really evident. particularly when you look at the dollar. let's summarize what's going on here. that's the big story. the risk trade being back. so money is moving out of safe havens, meaning bonds, for example, and into risk. specifically into the dollar and into stocks. this is a very important development because normally dollar strength has been negative for stocks recently but if you believe

dell up 3% and i'm melissa francis for erin burnett. here's what the street is talking. has too big to fail been super sized? whether the banks have been have become so big we could have a bigger problem. now that the bubble has burst, do we have the money to invest in the biggest of the year? before you buy that kindle, find out if the competitors have the keys to kill together. layaway making a come back and another example of what's old is new again. stocks in the red at this hour and fears about the consumer trumping renewed signs of life. can the dow stage a late-day come back and make it 9-9. we have scott down at the nasdaq. what do you think? >> a little bit. intel said yeah, we are actually going to do better. there is a little bit of disappointment about that, but when people understand the volume, they get a better perspective. microis up and bank of america has positive comments. they had the idea that they compete in the analog with texas instruments. sales will continue here as chip sales improve in 2010. here's a stock at a multimonth high. the big names l

i'm melissa francis.onight we go inside the top echelon of the sex for sale business, where masters of the universe spend hundreds of thousands of dollars a year in a lucrative market thriving just outside the law. it is a high-risk game and you won't believe who's playing. march 2008. several days after the fbi announces an investigation of an international prostitution business, the governor of new york calls a press conference. >> today, i want to briefly address a private matter. >> this is eliot spitzer, the man who campaigned to restore ethics to public life. >> but i have disappointed and failed to live up to the standard i expected of myself. >> now the public learns he hired a prostitute a month earlier from a high-priced agency in new york, the emperor's club, choosing from a menu of 50 women, the governor paid thousands of dollars to the agency.

. >> hey, bob, i'm melissa francis in for maria bartiromo at cnbc global headquarters. in the markets right now we're seeing some selling pressure on wall street. stocks are showing modest losses as we head into the home stretch of today's session. taking a look at the major averages, right now you can see the dow there trading down 22 points. about a quarter of a percentage point. the nasdaq right now, take a look at how it is trading. we'll show it to you. also trading to the down side by about .8%. below that 2,000 level we were so proud of a couple days ago. the s&p 500, though, is hanging above 1,000. 1,004. down a little more than .1%. bob, how's it going down there this afternoon? >> well, on the surface it looks kind of quiet, melissa. but in fact, there are a number of different sectors that are moving, including financials and stocks that are sort of controlled by the government at this point. take a look at the three big government-owned stocks. i'm talking aig, fannie mae, and freddie mac. look at these numbers, these percentage increases up here. over 50%,

. >> i'm mandy drury standing in for trish regan and melissa francis. stocks are lower. despite economic data development, and gdp. plus, the latest on the fdic quarterly report on problem banks. larry? >> i'm larry kudlow, everyone. citigroup up about 70% in the last month. aig, fannie mae, freddie mac also on the rise. we'll discuss whether there is still an appetite for these risky stocks. this is "the call." we are cnbc. >> stocks trading negative to find better than expected results on both gdp and jobless claims. and the fdic reporting the number of problem banks rose sharply in the second quarter. home builders also lower, after toll brothers reported a widening second quarter loss. right now, the s&p is also to the down side. and the nasdaq is not doing too much better, an over 1% drop for the s&p 500. and the nasdaq is only getting 1995, below 2000, a drop of 1.5%. we have hampton pearson in washtd, bob pisani with the market reaction. but hampton, let's begin with you. >> well, first, here at the fdic, its second quarter banking profile tells us that by the end

i'm melissa francis in for maria. watch me weekdays at 11:00 a.m. on "the call." thanks for watching. have a great night. >>> u.s. attorney says bernie madoff's number two may leave his and be indicted by grand jury, possibly setting the stage. >>> freddie mac ended the fiscal second quarter without asking for fiscal help. >>> and ex-employees accuse hewlett-packard for failing to pay sales commissions due to a software problem. i'm julia boorstin. "fast money" with melissa lee starts now. >>> stocks to a new high. cash out or keep riting the bull? welcome to "fast money." i'm melissa lee. these are your traders. we have the market covered from all angles tonight. robert schiller tells you if the recession is over. our favorite chart expert tell us how long this chart will go. first let's get to the word on the street. certainly nice participation, pretty much across the board. steve, you're on the floor. what were you feeling in terms of the flows? >> we've been saying on this desk the most important date was today for the jobs data. >> we were? >> we were. >> i

. >>> and i'm melissa francis. tomorrow is the deadline for bailed out companies to submit their compensation plans to pay czar kenneth feinberg. should feinberg sign off on guaranteed bonuses? this is the call on cnbc >>> okay. more economic numbers for investors to die just. walmart, leading things off by posting better than expected numbers. but then retail sales came in weaker than expected and weekly jobless claims as well. where does the economy stand right now? steve liesman is here to break it down for us. steve? >> melissa, thanks. despite walmart's better than expected profit numbers, it was a number of miss when is it comes to sales at the nation's largest retailer and the nation's retailers as a whole. bottom line, the consumer is undermining the clear-cut bullish recovery case, at least for now. take a look at walmart's sales. not the prove it's. down 101 billion, down from $102 billion by 1.4% from the prior year. economists had been expecting a gain of almost 1$103 billion. just like walmart, the ove

. >>> welcome to "the call" i'm man mandy drury, melissa francis is on assignment. 90 minutes into the day, stocks reverse course on strong economic data. we'll discuss right now in the economic recovery, right, larry? >> thanks very much. i'm larry kudlow. the big question surrounding ben bernanke's next term. will he continue to throw money at every problem, or will he tighten the reins? in the "call of the wild" we'll debate. helicopter ben other king dollar ben? we are "the call" and this is cnbc. >>> stocks lower -- some profits from the recent run-up, but reversed course. new home sales rose at their fastest pace since last september. right now, let's look where we're sitting for the dow, the s&p and the nasdaq, the dow up by 2/10 of a percent. let's look over the boards and take a look, about the same quantum for the s&p 500, holding around the 1030 mark and the nasdaq gaining again by 2/10 to the up side. 2027 is the score. >> well, diana olick is in washington with more on the new home sales. bob pisani at the nyc and scott wapner at the nasdaq and the market reaction there. k

we're going to be up right next with melissa francis. >>> and wall street ends the week at 4:00 p.m. eastern time. do you know where your money is? there's a little bit of a down side bias on "the closing bell" today. i'm sue herera filling in for my colleague maria bartiromo. i'm here at cnbc global headquarters. here's what we're following at the close. the recent stock market rally did run out of a little bit of steam today after mixed reports on the health of the kurnlgs or it could be that rotation that bob just mentioned. consumer spending rising .2% in july. consumer sentiment falling to a four-month low in august on concerns about the job market. tech, however, one of the day's bright spots after intel raised its third quarter revenue guidance because of stronger demand. so here's a look at how things are settling out on this day on wall street. the dow jones industrial average down 35 points at 9,545.48. nasdaq is down -- is up, rather, about one point, trying to hold on to the green at 2,028.77. and the s&p 500 down just about 2 points on the trading session. let's rejoin b

. >> that's it for the call, i'm melissa francis. >> i'm trish regan. thanks for watching.nch" with a whole new cast this week. >> right. . >> welcome back. >> thank you. it's great to be back. >> if you are real good, she will show you a slide. >> of the rv. >> michelle off for a couple of days, welcome mandy drury. looking forward to a few days here. the global spilloff selled onto wall street, the stocks tumbling at this hour the global economy is the concern, japan's gdp numbers overnight, while they showed growth, not as much h growth as the world had hoped for, the major averages having their biggest decline since early july right now. health care stocks are among the best performers which we will explain in a little while why. >>> the question is whether or not this is the beginning of a big correction. so, we are going to gather the "power lunch" task force to guide you through the volatility and show you how to play this pull back. >> i'm mandy drury, the world economy grows, we look at what shape the recovery might take l we see continued global growth or will it

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i'm melissa francis in for erin burnett. "closing bell's" coming up next. >> this is cnbc.com "news now." >>> tropical storm danny has formed in the atlantic, and the national hurricane center says it should become the season's second hurricane later this week. >>> williams-sonoma shares are soaring more than 10% today after the retailer or theed an unexpected profit. and the cash for clunkers program generated nearly 700,000 car sales and almost $2.9 billion in rebate applications. the transportation department says toyota sold the most cars, gm was second. that's cnbc.com "news now." i'm julia boorstin. >>> and there's a live picture of the floor of the new york stock exchange. we enter the final stretch on wall street with the markets pulling back after making fresh intraday highs for the year earlier today. hi, everybody. welcome to "the closing bell." i'm maria bartiromo on the floor of the new york stock exchange. we had a pretty good market earlier today and definitely some pretty good support for this market when we

. >> but george, this is melissa francis. i want to keep everyone honest on the numbers here because we're talking about 250,000 transactions was or sales was the number that was quoted. but that includes the car that was clunked and the new car. so really it's only somewhere between j.d. powers 110,000 new cars sold to maybe if you took that other number and split it in half, it's 125,000, that's not a huge number based on, you know, total sales in the economy or what you really need. what does that mean to you in terms of ford sales and how many jobs could be saved? >> i'm trying to get my arms around what real quantity we're talking about here. it seems tiny even though we're so excited. >> well, that's totally right. i mean, even if 250,000, if you take the high-end kind of a number, that's what? 2% of a 10 million sales year. so if i did the math right, i never was very good at math, that's why i'm a sales analyst. but in any case, it wasn't all that long ago that we had several $17 million sales years year after year fr

thanks for watching i'm melissa francis in for maria bartiromo. have a great night and a great weekend. >>> warren buffett's berkshire hathaway has cut back on home depot and carmax and eaton and raising stocks in johnson stakes and adding 1.2 million shares of beck t becktin dickinson. >>> that's "cnbc.com news now." i'm julia boorstin. "fast money" with melissa lee starts now. >>> is the summer selloff finally here? not on this desk. we've got your correction covered. >>> welcome to "fast money," we're live from the nasdaq market site. i'm melissa lee and these are your "fast money" traders. a big show tonight. we'll show you a correction next week. and later a company that's helping america and its profits recover from giant job losses, and breaking all night, new holdings from warren buffett and george soros and other investment whales that you may not believe. what we may find. >>> a word from the street, a nice rebound from the session lows. what was that? a technical bounce there? >> i think there were late guys coming in to cover shorts an

. >>> welcome to the call, i'm melissa francis. trish regan is off today. 90 minutes into the trading day, world shares hit a ten-month high, we will discuss whether the stock rally can continue. larry? >> my word, i'm larry kudlow, hi, everybody. ben bernanke says the worst behind us, nouri el rabinny says the chances of a double-dip recession are increasing. we will discuss who is right and who is wrong. >> another 150 to 200 banks will fail because of the current credit crisis and will be joining us live with details. this is the call on cnbc. >>> stocks moving higher in continuation of friday's rally on optimism that the worst of the optimism is behind us, not everyone agrees, including nuriel roub beanie. we will be bringing you more on that later. right now the dow up by .7 of a percent, five straight days in a row we are in the black. as for the s & p 500 up. and the nasdaq in the back. black. >> all big three talking about earnings improving in the next years. cash for clunkers expiring today but other programs traders are

and i'm melissa francis in for maria bartiromo at cnbc global headquarters. in the markets right now stocks are down on the day. they're having their worst drop in a month. however, still less than 1% dip, which goes to show you just how far the bulls have come in the past four weeks. as for the major indices take a look at the dow right now, down .6%. about 55 points. 9,315 the level there. the nasdaq also trading to the down side, down about .7%, a little more than 14 points. 1,986 the last trade there. and the s&p 500 also trading lower by .6%. bob, what's going on on the floor? >> well, if this is the worst the bears can do the bulls should be pretty happy. it's very simple, folks.s. everything that was up the most last week is down the most today. that's called profit taking. remember, professional traders have got to figure out what to buy and sell every day, and today they're selling the stuff they made the money on last week. so let's take a look at the highlights here. and that's the story. that's what you need to know here. first of all, cyclicals w

i'm melissa francis in for maria bartiromo, and here's what we're following at the close. investors taking some profits after the recent month-long rally. weakness in materials leading stocks lower as we kick off the week on a little bit of a down note, not too much. one blue chip bright spot today was mcdonald's, which reported better than expected july same-store sales. and treasury prices rising for the first time in six days as the yield on the ten-year hit the highest level in two months. this as the government plans to auction off a record $75 billion of notes this week. here's a look at how we finished the day on wall street on the major indices.. take a look at the dow. down slightly on the day, about 1/3 of a percent. 31 points. 9,338 the last trade there. the nasdaq below 2,000. 1,992 the trade there, down .4%. and the s&p down just about .3%. let's get more on today's action. bob pisani is our eye on the floor of the new york stock exchange. take it away, bob. >> well, the important thing here is we had cyclicals weak as we saw profit-taking throughout the last,

i'm melissa francis.ht we go inside the top echelon of the sex for sale business, where masters of the universe spend hundreds of thousands of dollars a year in a lucrative market thriving just outside the law. it is a high-risk game and you won't believe who's playing. march 2008. several days after the fbi announces an investigation of an international prostitution business, the governor of new york calls a press conference. >> today, i want to briefly address a private matter. >> this is eliot spitzer, the man who campaigned to restore ethics to public life. >> but i have disappointed and failed to live up to the standard i expected of myself. >> now the public learns he hired a prostitute a month

i'm melissa francis. trish regan is off. stocks are higher, fueled by another term for ben bernanke and good news on the housing front and consumer confidence. larry. >> hi, everybody, i'm larry kudlow. now that bernanke is here to stay for a while, we'll discuss what it means for the economy, and the stock market going forward. >> and i'm mandy drury. in our "call of the wild" can the s.e.c. institute tighten regulations on the stock market, as one is calling for? this is "the call" on cnbc. >> a lot of positive news for investors to digest today. first up, president obama renominated ben bernanke as fed chief. home prices posted their first quarterly increase in three years, and consumer confidence rose in august. more on that one later. right now, though, the going above 9 600 for the first time since october. the s&p 500 is sitting at 1031 with a gain of just over half a percent. the nasdaq is also moving higher by about the same quantum at 2028. now, we do have john powell at the white house on the bernanke renomination

i'm melissa francis in for erin burnett. i'll see you here tomorrow as well. up next is "the closing bell" with maria bartiromo. >> announcer: this is cnbc.com "news now." >>> the treasury -- sold $28 billion in seven-year notes. >>> a&e networks is buying lifetime entertainment for an undisclosed amount. the deal gives nbc universal a partner with disney and hearse in a&e, a stake in lifetime which is jointly owned by its two partners. >>> sanford financial cfo james davis has pleaded guilty to three felony counts for his role in the firm's alleged ponzi scheme. that's cnbc.com "news now." first in business worldwide. i'm julia boorstin. >>> and there's a live picture of the floor of the new york stock exchange, entering the final stretch on a thursday on wall street. the market picking up some steam here as we approach the final stretch. up in the double digits. reversing an earlier sell-off. hi, everybody, welcome to "the closing bell." i'm maria bartiromo on the floor of the new york stock exchange. it's a light summer day in terms of volume down here, but

i'm melissa francis in for erin burnett. have a great weekend. "the closing bell's" up next. >> announcer: this is cnbc.com "news now." >>> the new york mets are denying claims that the wilpon family will have to sell the team because of mad jo-related losses. the team calls the assertion by the author of a madoff book completely false and irresponsible. >>> whirlpool closing an evansville, indiana manufacturing plant and cutting 1,100 jobs. >>> and a court has struck down a rule that limited cable companies to serving no more than 30% of the overall pay tv market. that's cnbc.com news now, first in business worldwide. i'm mary thompson. >>> there's a live shot of the floor of the new york stock exchange on this final trading day of the week. welcome to "the closing bell," everybody. i'm bob pisani. maria bartiromo taking a break today. let's take a look at how stocks are shaping up on this final hour of the trading day. there's the dow jones industrial. and frankly we've been in a bit of a trading range. we were down as much as 85, up as much as

that's where wall street's cnbc's melissa francis is at the new york stock exchange where i understand gm and ebay are making financial news. >> reporter: that's right. they're teaming up to sell new cars online. gm has previously sold used cars online but now 225 dealers in california are participating in this trial. there is a toolen the website that will let you figure out if your used car qualifies for the cash for clunkers program. when you buy a car, you go to the dealer to pick it up. meanwhile, markets are up four weeks in a row. all major indices up 15% in that time. we want to see if the run will continue. the fed kicks off a two-day meeting tomorrow. most expect them to keep interest rates steady. >> thank you so much. >>> two devastating typhoons are now pounding parts of asia. so far in japan, china and taiwan, at least 14 people have been killed and hundreds more unaccounted for. in southern taiwan, people evacuated a hotel just in time. look at this. it collapsed into a river after its foundation was weakened by heavy rain. >>> it is now 7:11. now back to matt and meredi

i'm melissa francis. thanks for watching, everyone. i'm trish reagan. >> i'm larry kudlow. now, "power lunch" is up next. >>> this is cnbc.com news now. >>> new york attorney general is issuing cease and desist to auto dealers for running ads on the cash for clunkers program. gm in 45 states, after a year of cutting back on leasing. financial times says u.s. banks will make $38.5 billion in overdrafts this year. that's mostly from financially stretched consumers. cnn.com news now. >>> welcome to spam day on -- never has so much been discussed about spam and poi. >> a whole new yorker article. >> when i was five years old i auditioned for spam commercial. >> did you really? >> i ended up trying the spam.. they wanted me to try it and make a face about it. that's what ended up not making things work out. >> you didn't give it a good face. >> they came to my school, , brought all the kids in a room, had us try it. >> that worked well. >> great info. >> joining us once again, this summer rally has taken a bit of a breather.. energy and health care the big winners at the moment.

i'm melissa francis. trish regan is off today. a surprising and better than expected jobs number coming up stocks. the recovery is on. it's the new bull market, larry. >> indeed it is, melissa. i'm larry kudlow. we're going to talk live with the ceo of blue nile. the stock has more than doubled in the past year. we'll talk about where she sees the economy headed. this is "the call." we are cnbc. >>> it is all about the jobs report on wall street this morning. it was the 19th consecutive month of job losses, we know that. with 247,000 positions eliminated, it was the best showing since august, fueling hope that an economic recovery is beginning. take a look at the dow right now. it's back above 9400 right now. this is the first time since november we've seen this level, up almost 150 points on the day. that's about 1.6%. the s&p right now solidly above 1000, 1013, to be exact, that's about 1.66%. and we're up 1.5% on the nasdaq, above 2000. let's check in with bob on the floor of the stock exchange. nice way to end the day, huh, bob