we have a look at that with michelle steele in the bloomberg business report. ood morning, michelle. >> good thursday morning. starting out the report close to home with data on foreclosures. realty track's latest data is out saying the u.s. foreclosure filings rose to a record the first 1/2 of the year as job losses and slumping home prices fueled it. cities in california, florida, nevada and arizona still have the highest foreclosure rates with las vegas having a foreclosure rate six times the national average. but some foreclosures saturated areas like detroit, cleveland and indianapolis posted declines in foreclosure activity. the baltimore-towson area is 148th on the report with just over 5,000 properties listed with foreclosure filings. let's get to the markets yesterday. stocks lower for a second day after china shanghai composite closed down 5%. we saw commodities prices decline as well. speaking of commodities, alcoa the biggest u.s. aluminum producer closed down just over 2% as copper fell almost t2%. kenneth fisher says chinese stocks will recover fro

. >> time for a look at wall street with michelle steele with a look at the business news. happy friday to you, michelle. >> hey, stan. tgif. an economic report helped drive stocks higher yesterday. we will see if a report today will do the same. yesterday it was weekly jobless claims holding below june levels. today it is the government report on u.s. economic growth last quarter. economists expect it to show the worst recession in a half century is winding down. it is out at 8:30. baltimore based constellation energy a stock to watch today. the utility owner expected to come out with quarterly results within the hour and right now futures indicating a quiet open on wall street. here is a look at the higher close yesterday after the weekly jobless report and better than expected earnings. investors are watching the auto makers and impact of the headlines you have been reporting on with the cash for clunkers program coming to a screeching halt. july auto sales numbers are out monday. they probably rose to the best level yet this year thanks to the cash for clunkers program.

i'm michelle steele, bloomberg news, reporting for wbal tv 11 news.ack to you. >> we will see you back at 6:15 for the next report. it is 5:22. coming up we will get another look at the morning commute with traffic and weather. >> coming up in sports a mutiny by the players in the lfrjs pga tour -- lpga tour. >> don't forget to e-mail us the answer to the water cooler question of the day. what do you think about legalizing marijuana to fill in a state's budget gap. e-mail us your response to discover a light yogurt like no other. activia light! delicious, fat free, and above all... the only one that has bifidus regularis and is clinically proven to help regulate your digestive system. activia light. ♪ activiaaa! julia tolbert, tell me your story. well, my irregularity was only occasional. i honestly thought it was just a part of life. what made you first try activia? i saw this ad, and i said, ok, i love yogurt. and it worked. ♪ activia >> in the bitter irony department it is supposed to be the biggest week of the year for the lpga but they are embroi

i'm michelle steele reporting for wbal tv 11 news. back to you guys. >> see you back at 6:15. >> it is 5:20, 57 degrees. we will get another look at the morning commute coming up. >> the orioles seem to be getting this comeback continuing down. coming up, exciting highlights of a come-from-behind win in seattle. >> don't forget to e-mail us your answer to the water cooler question of the day. how do you feel about the idea of speed cameras being set up in baltimore city? e-mail y with just a few adjustments, the plan we worked on for your retirement makes sense, just stay on track. what is...? that's the guidance you get from fidelity. thanks. stay on the line! whatever your destination, fidelity has the people, guidance, and investments to help you find your way. >> good morning, everybody. a week after the greatest comeback in team history the orioles did it again yesterday coming back from a 3-0 deficit in the ninth to stun the mariners in seattle. brian roberts got the day off because of a cold. he saw it start bad. jose lopez to

i'm michelle steele, bloomberg news reporting for wbal-tv 11 news. back over to you guys. >> thanks, michelle. see you back here at 6:15. >> 5:22. 68 degrees on tv hill. coming up, another look at your morning commute with traffic and weather together. >> it may sound like it but i'm not bragging when i tell you come on back because we have perfect game highlights for you coming up. as in highlights of a perfect game. >> all right. don't forget to e-mail your answer to the "watercooler question of the day." do you think parents should be held responsible for a child's actions in animal cruelty cases? email your response to watercooler@wbaltv.com. being smart. yep. just booked my 10th night on hotels.com, so i get a night free. you. me. getaway. really? where? anywhere you want. a bed and breakfast? bed and breakfast. check. a place by the beach? a place by awesome. oh, you are smart. accumulate 10 nights and get a night free. welcome rewards from hotels.com. smart. so smart. >> you can now include the name of chicago white sox pitcher mark buehrle amo

i'm michelle steele, bloomberg news reporting for wbal-tv 11 news. lisa and mindy, back over to you. >> thanks. we'll see you back here at 6:15. >> 5:23. 63 degrees on tv hill. coming up, another look at your morning commute with traffic pulstrafficpulse 11. >> and e-mail your answer to the "watercooler question of the day." what is your favorite memory of the legendary journalist walter cronkite? email your response to watercooler@wbaltv.com. >> long before there was a space station there was mercury, gemini, then apollo. and it was 40 years ago today that mankind stepped on to the moon for the first time. >> and today we're getting a better look at their mission. tom costello reports. >> coming down the ladder now. >> this is how 600 million people watched neal armstrong and buzz al drin take their first steps on the moon. now 40 years later this. a 21st century digital makeover of armstrong's first steps of buzz aldrin coming down the ladder with far more clarity. >> beautiful. >> isn't that something? >> of planting the flag before and after the

michelle steele joins with us that story and the rest of the business news in the "bloomberg businesseport." happy monday to you, michelle. >> happy monday to you, too. first story hits close to home for me because i am from chicago and we are hearing reports specifically from bloomberg news, the chicago cubs may become the first major league baseball team in 39 years to file for bankruptcy. this according to bloomberg which says cubs owner, tribune, is seeking chapter 11 in december, now considering a separate filing for the cubs, looking to sell the franchise after months of negotiations. people familiar with the matter say a brief cubs bankruptcy would be a legal tack i can to clear the team from any future liability in the tribune bankruptcy so, of course, the cubs very successful, making a lot of money, but they want to make sure that that asset is free and clear of liabilities as it moves to a new owner. meantime, bankruptcy also looming in the skies. tougher borrowing conditions have u.s. airlines facing the production pect of chapter 11 protection. american airlines, delta, un

i'm michelle steele, bloomberg news reporting for wbal-tv 11 news. stan and mindy, back over to you. >> we'll see you back here at 6:15. >> 5:22. it's 71 degrees on tv hill. coming up, another look at your morning commute with traffic and weather together. >> and e-mail your answer to our "watercooler question of the day." what do you think the future holds for former alaska governor sarah palin? email your response to watercooler@wbaltv.com. >> a second cemetery in chicago under scrutiny that it stacked bodies and resold plots. a family filed a lawsuit against glennwood memorial gardens claiming the cemetery tried to resell a blot where two family members are buried. police are investigating after a human bone was found lying in the ground there. police charged four workers at burr oaks cemetery in a similar scheme. >> it seems -- >> a paralyzed california law student is now fighting to take the bar exam after her application was never processed due to a filing error. sarah pants to know if they never -- wants to know if they never received it, why

michelle steele, bloomberg news reporting for wbal-tv 11 news.ope you guys also had a very restful holiday weekend as well. back over to you guys. >> it actually was. thank you very much. we'll see you back here at 6:15. >> 5:24. it's 60 degrees. coming up, another look at your morning commute with traffic and weather together. >> and don't forget to e-mail your answer to our "watercooler question of the day." do you think alaska governor palin's resignation helps or hurts her political future? email your response to watercooler@wbaltv.com. hi, may i help you? yeah, i'm looking for car insurance that isn't going to break the bank. you're in the right place. only progressive gives you the option totoeme your price. here. a price gun? mm-hmm. so, i tell you what i want to pay. and we build a policy to fit your budget. that's cool. uh... [ gun beeps ] [ laughs ] i feel so empowered. power to the people! ha ha! yeah! the option to name your price -- new and only from progressive. call or click today. you'll never go back to your old broom again. and

michelle steele joins us live in a bloomberg business report. >> good morning. a government watchdog is now pointing its finger at traders who it says has been manipulating the price of oil. according to "the wall street journal" the commodity futures commission will say that someone played a role in driving up the oil last summer. oil futures have climbed since -- around 102% since the report. there will be the first of three hearings today to discuss the energy market. let's get to the equity markets, u.s. stocks climbing higher on better than expected new home sales. baltimore-based under armor -- the company is reporting its earnings before the opening bell. if you are a delta frequent flier, and you have to add up those models. they will have a new benefit program with a membership in the airport clubs. but you have to have a certain amount of points to have that status. stock index futures are looking pretty quiet ahead of the open. another of earnings that investors still need to react to. from the new york stock exchange, i am michele stileele. back to y

michelle steele has more in the bloomberg business report. >> good morning. the government's $1 billion cash for clunkers program my need a fill-up. the incentive is meeting strong demand such that money may run out by the end of next month. it is scheduled to continue until the 1st of november. the latest trend among the super rich. tax confession als. taxpayers are applying to the i.r.s. in large numbers to disclose past tax evasion according to the "wall street journal." an i.r.s. clemency program offers them the possibility of facing civil charges as opposed to criminal ones if found guilty of tax fraud. it ends september 23. on to the markets, u.s. stocks fell a third day as flunging chinese shares and commodities fueled speculation that the recent realally has outpaced th recovery. nintendo's wii finding it difficult to stay fit. reporting a 61% drop in quarterly drops. sales of consoles. diminish nintendo facing stiff competition has kachd its share price fall 21%. that is business news at the new york stock exchange. i'm michelle steele, bloomberg new

michelle steele has that and more in the bloomberg business report. >> it is an all too familiar head lien a.i.g. asking lawmakers to approve millions dollars of bonuses for executives according to the "new york times." american international group the beneficiary of $160 billion of government aid. is taking the green light from obama administration officials to hand out over $2 million in retention bonuses next week and again in september. it is predicting that a.i.g. shares may be worthless after the u.s. is repaid the tarp funds. all they major indexes inching out gains yesterday. goldman sachs upgraded spurring a rally in financial shares. maryland index led by choice hotels and foundation. let's get back it goldman sachs here. poised to report the largest profits since it set earnings records in 2007. analyst are saying the advance marks the return of the same business model which was the envy of wall street before leading to the collapse of lehman brothers. goldman the recipient of $10 billion in tarp funds. that is business news at the new york stock exchange. i'm michelle stee

michelle steele has the story and more. >> good morning. a direct challenge it microsoft's windows the operating system found on the majority of computers around the world, google saying it plans to release its own operating system based on its chrome web browser. it says the system will be designed for low cost lap taps and may be available to consumers the middle of next year. it may also have its eye on twitter. google and rupert murdoch are planning to buy twitter. acquiring it is a hot topic for media moguls gathered in talks in idaho. u.s. stocks tumbling yesterday sending the s&p to the lowest since may 1 partly on disappointing earning season. lockheed martin led the maryland index lower. and governor o'malley set to testify on stimulus funding to the house committee on oversight and government reform. a new report from the government accountability office finding almost $30 billion has been paid out to states slightly ahead of schedule. g.a.o. saying the majority is being used to stabilize budgets and maintain benefits under medica

i'm michelle steele, bloomberg news reporting for wbal-tv 11 news. >> later this year the c.d.c. is expected to release new data on autism. one howard county mother and her friends are well aware of how common the disorder is becoming. cy. of their children have it and now she wants answers. >> farmers will tell you the diagnosis of awe six raise a lot of questions, including where did this come from? what happens when you find out your close friends from the very same neighborhood are asking the very same questions? >> when stephanie received a letter from an old friend, it was both comforting and alarming. not only was stephanie raising the questions of autism, so were other moms. >> not only are her two boys struggling rt but my son as autism. another neighbor and her son two doors down had autism. and still another mom, found out there is another family with two boys. >> six boys under the age of 8 and a seventh is being evaluated what is the cause? and is there a common denominator? tonight at 11:00, what the families think happened on that street and how come no one wants t

i'm michelle steele, bloomberg news reporting for wbal-tv 11 news. >> parents across the country are complaining about a company that convinced them to buy educational software all in an effort to help their kids do better on the s.a.t. and other tests. i-team reporter mindy basara exposes the alleged scheme. >> every parent wants their child to do well on the s.a.t. and a.c.t., but some parents claim an unscrupulous company is taking advantage of that desire. >> as soon as she mentioned my son and education, that was the key right there to get me to purchase the c.d. >> she tried to return it. >> i still haven't gotten a refund. >> she says the sales person implied that the company was affiliated with her son's schools. and parents are having trouble getting their money back. >> and that's not all. tonight at 11:00, find out why the company's owner is facing criminal charges and what you should do if you get one of those phone calls. for the 11 news i-team, i'm mindy basara. >> it's 6:20, 64 degrees. another check of weather and traffic is straight ahead. >> also, the up and down or

i'm michelle steele, bloomberg news reporting for wbal-tv 11 news. >> thank you. 6:19. it's 62 degrees on tv hill. another check on weather and traffic is straight ahead. >> two baltimore city officers ambushed by a gunman in west baltimore. we'll have more on the events that led up to the gunfire and what commissioner bealefeld had to say about the suspect. >> and e-mail your answer to the "watercooler question of the day." what is your favorite memory of legendary journalist walter cronkite? email your response to watercooler@wbaltv.com. >> good morning. sarah caldwell checking on your morning commute. it's a pretty nice one out there. just one problem spot in the pikesville area, green spring valley, a downed tree. might be some lanes blocked. otherwise a pretty clear ride on all of the area roadways. artscape closures on some of those roads, mount royal, preston, oliver carks need ral, re-- cathedral remain in effect as they clean up after artscape. there is a new traffic pattern this morning. southbound 95 at the 895 split. instead of exiting to the left for 895 so

michelle steele joins us live with a look at that and the rest of the business news in the bloomberg ss report. >> organic, michelle. >> hey, stan. good morning. it is that time of year again, earnings season kicks off today with alcoa. buckle up. the biggest aluminum producer in the u.s. may report a third straight quarterly loss. economist saying lower demand from auto makers and construction industry keeps aluminum at about half of last year's prices. one analyst says global suppliers are overshooting demand. wall street is closely watching the numbers for any kicks of how the rest of earnings season might go. stock index futures indicating a higher open today and sharp selloff yesterday. energy and tech stocks sinking, the s&p now at the lowest level in two months. washington under cyber attack according to the a.p. the associated press says hackers are targeting the treasury department, secret service, federal trade commission and trorg department websites. it says the attacks pay be linked to recent cyber crime in south korea where banks are also being targeted. looking like it

michelle steele joins us with the bloomberg business report. >> good morning, everybody.e watching of course president obama in moscow and watching his healthcare plan this morning because the obama administration and groups representing hospitals nationwide may be near an agreement on almost $150 billion in cost savings and that would lower the price of revamping the nation's healthcare system. all this according to the "new york times." an announcement may come as soon as tomorrow so listen up for that. meantime, computer users, a security flaw in microsoft's internet explorer prompting a warning about cyber crime. this according to "u.s.a. today." the paper says microsoft is telling users it has no way of patching a security hole in p.c.'s using certain windows operating software saying the flaw allows hackers to remotely take control of p.c.'s and computers may get infected by simp simply visiting certain websites. this is just going to certain websites. moving to the markets, index futures indicating a quiet open. stocks mixed yesterday. goldman sachs, j.p. morgan ch

michelle steele has that story and minister in the bloomberg business report. >> good morning. the economy is in focus as leaders from the eight top industrial nations gather in central italy on the table mounting global debt. the i.m.f. warning basic bailouts will spread the debt of advanced economies by 2014. as a top advisor to the president says the government should mull a second stlu looks like it is getting for difficult to get a credit card. bank cladrastically rolled it b and if you do get one expect the limit to slip by 3%. the u.s. stocks mixed yesterday. dow and s&p rising enough to break an early slump on speculation global credit conditions are improving. that overshadowed a drop in commodity producers. the maryland index falling led by united therapeutics and shore bank shares. home prices may continue to fall in more than half of the largest u.s. cities according to a new report which cites rising unemployment and foreclosures as the cause and predict it is will spread to all regions of the nation. baltimore shows a 90% chance of lower home prices. pretty high.

michelle steele has that and more in the bloomberg business report. >> u.s. bankruptcy judge saying general motors could sell the majority of its business to a treasury funded buyer possibly as soon as this afternoon. according to the judge g.m. would exit bankruptcy with $48 billion in debt. it entered with about $176 billion in debt. when it emerges the a.p. reports g.m.'s iconic logo may turn green to showcase g.m.'s environmental initiatives. alcoa announcing second quarter losses smaller than estimated and now saying it expects government economic stimulus spending in china to boost metal demand to help it start generating cash again. u.s. stocks mixed as investors fear disappointing earnings season overshadowed plans to remove up to $40 in toxic assets from financial firms. the bloomberg maryland index falling as well. losses led by osiris therapeutics. peeps check marshmallows opening a retail store. good news for you in maryland. it will be a at national harbor according to the peeps maker. that is the news at the new york stock exchange. bloomberg ne

i'm michelle steele reporting for wbal tv 11 news. >> despite his wish to stay with the ball club george sherill is headed west. sherill, one of the few stars in the bullpen has been traded to the l.a. dodgers for minor le league they're baseman josh bell and pitcher steve johnson. sherill, who notched 20 service this year, goes from a team at the bottom of the a.l. east to a team that is seven up in the national league west. more leaks in the supposedly confidential list of players that tested positive for performance-enhancing drugs during 2003. the latest names david ortiz and manny ramirez. ortiz says he didn't know he tested positive and he wants to know what substances the test reported before commenting. ramirez, you may recall, just finished serving a 50-game suspension for violating the drug policy. >> interesting to see the names coming out. 6:21, 74 degrees. another check of weather and traffic is straight ahead. >> talk about catching lightning in the bottle a photographer catch as photo while snapping shots of a dramatic thunderstorm. >> don't forget to e-mail your answer to

i'm michelle steele, bloomberg news reporting for wbal-tv 11 news. >> thanks. 6:20. 68 degrees on tv hill. coming up, another check on the weather and traffic is straight ahead. >> don't forget to e-mail your answer to the "watercooler question of the day." do you think parents should be held responsible for a child's actions in animal cruelty cases? email your response to watercooler@wbaltv.com. g $úi@w green ball double draw promotion. and guess what? the green ball came up during the very first drawing. that means our players had an additional chance of winning on pick 3. heres how it works: now through august 16th, pick 3 players have the chance to win twice during every pick 3 drawing. a separate drawing will be held using twelve white balls and one green ball. if the green ball pops up, a second set of pick 3 numbers will be drawn. if a white ball is drawn, that ball will be removed for the next drawing, making the chance of a green ball being drawn even better. so good luck to all our players! speaking of luck, the livin' lucky internet promotion continues. just enter your liv

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steele, thank you. >> thank you. sean: ed rendell is here, and we have reaction to the president's address. also, michelle obama is linked to a scheme from the south side of chicago. our own ainsley earhardt has more. and we have a detailed look inside the obama health care plan tomorrow night, a special edition of this program, at its regular time, and 9:00 p.m. eastern, edit it is -- and >> they believe one of osama bin laden's sons was killed in a air strike. they suspect that he was killed earlier this year by missiles fired from an american predator. it apparently haven't summer in pakistan. the u.s. counterterrorism officials say the body has not been recovered. there is a 85% chance this report is true. he had no known ties to al qaeda. he had been living in pakistan since last year. they think the son of osama bin laden was killed earlier this year in an air strike over pakistan. and another breaking story out of houston. several people have been shot out of texas southern university. six people were shot. it happened near an outdoor rally where a local rapper was appearing. a car drove past the d

steele, thank you. >> thank you. sean: ed rendell is here, and we have reaction to the president's address. also, michelle obama is linked to a scheme from the south side of chicago. our own ainsley earhardt has more. and we have a detailed look inside the obama health care plan tomorrow night, a special edition of this program, at its regular time, and 9:00 p.m. regular time, and 9:00 p.m. eastern, edit it is -- andrgeon] what causes a bone to break? you'd think it would be something out of your control. not necessarily. after menopause, when a woman has a fracture, the underlying cause could be osteoporosis. and that's a fracture that might have been prevented. if you have post-menopausal osteoporosis, you could be at high risk for fracture. which is why i hope you'll call now 1-800-316-4955 for this free information kit. in it, you'll see the difference between the inside of a strong bone and the inside of an osteoporotic bone, weakened and prone to fracture. you'll find ways to help reverse bone loss and to help prevent fractures. learn how to help maintain strong bones. and read about an effective tr

steele, thank you. >> thank you. sean: ed rendell is here, and we have reaction to the president's address. also, michelle obama is linked to a scheme from the south side of chicago. our own ainsley earhardt has more. and we have a detailed look inside the obama health care plan tomorrow night, a special edition of this program, at its regular time, and 9:00 p.m. eastern, edit it is -- and isit is a "hannity" you cannot miss. sean: hilary clinton made quite the fashion statement when she arrived in bangkok. it looked to me like she may have been showing some solidarity with the remaining detainees at guantanamo bay, although that looks like some upscale gtmo gear. tastyville, feed your summer fun with the full, juicy flavor of johnsonville sausage. johnsonville. sausage is all we do. finally, good news for people with type 2 diabetes or at risk for diabetes. introducing new nutrisystem d, the clinically tested program for losing weight and reducing blood sugar. hi i'm mike, and i lost 100 pounds on nutrisystem d when i was first diagnosed with diabetes, that first step was more like a giant leap. till i d

michelle, where i know you're hanging. i think there's a lot to do in sugar around the world. also look at steels, we had that number posted up there with u.s. steel trades in new york, there's a lot of opportunity in coal and steel, and big in the bolts, we're starting to see rotation because i think there's recovery. >> what have we seen so far with the coal names? they all run into the earnings, give you that pullback and then extend that run further. so i think you've got to keep your eye on the stocks, walter industries is one of the names you have to keep your eye on. across the board, whether it's all those names, but then back to these engineering stocks. did you see -- all these various names, foster wheeler just keep moving to the up side, they're still too cheap and i think there's more up side to come. >> well, you know, a.c. did an offering tonight 17 million shares, i don't know how that got priced but good for them to take a chance of being run up in their stocks. >>> next trade, the market's swinging higher in a late afternoon surge, chalking up one more gain for the rally that's