to hear now how much the nasdaq would embrace the nyse and the nyse model. >> reporter: nasdaq's joint bid with the intercontinental exchange would divide the nyse into two parts. the ice would get the derivatives business, while the nasdaq would take the stock exchanges and options portions. but some skeptics wonder if nasdaq could even pull off a deal, because it would face a hefty debt burden. and both moody's and s&p downgraded nasdaq's credit outlook from stable to negative today. analyst rafay khalid says nasdaq had to take the gamble. >> i believe that they threw their hat into the ring not to be left behind. but it's almost a bid of desperation, what they're trying to do. >> reporter: a deal between the nyse and the nasdaq would face significant obstacles, not the least of which is antitrust scrutiny. the two exchanges are direct competitors. so a merger would create a monopoly in the market for stock listings in the u.s. but the nyse's deal with deutsche borse also has anti- trust concerns, because the new company would have a lock on european exchange traded derivatives. expe

nasdaq will continue talks with nyse shareholders. the number of americans filing new unemployment claims fell by less than expected last week. new claims dropped by 13,000 to 403,000. and the jury hearing the insider trading case against hedge fund manager raj rajaratnum will get the case monday. testimony and arguments wrapped up today. rajaratnum faces 14 counts of securities fraud and conspiracy. his lawyers say their client is innocent. after falling earlier this week, oil prices are back close to their recent high. light, sweet crude for june delivery settled at $112.29 per barrel. as prices move higher, the justice department today announced a new team looking for fraud in the energy markets. the group will zero in on oil and gas prices for signs of manipulation. >> susie: surging jet fuel prices slammed earnings at southwest airlines. the low-cost carrier said today its first quarter profits plunged 55%. still, southwest eked out a profit-- three cents a share, in line with estimates. a short while ago, i talked with southwest

the nyse has said it doesn't want nasdaq's $11 billion bid. the big board is standing by a deal with deutsche boerse, saying the nasdaq offer is risky for shareholders. the weak housing market saw a slight boost last month. construction of new homes and apartments rose 7% from february. building permits, an indicator of future construction, were up 11% after hitting a five-decade low in february. >> reporter: i'm diane eastabrook in biloxi, mississippi. coming up, i'll tell you what the shrimping industry here is doing to gets its products back on your dinner plate. >> susie: in japan, workers started today draining highly radioactive water from the basement of that badly damaged nuclear plant. it's the latest step to stabilize the fukushima daiichi plant and prevent more toxic spills into the ocean. meanwhile, initial damage estimates from japan's massive earthquake and tsunami are coming in from the insurance industry. total insured losses range from $12 billion to $34 billion. to get more perspective on that, earlier today, tom hudson talke

the parent of the new york stock exchange nyse says it is ticking with a lower $10 billion proposal. experts are calling china's trade deficit a good sign from the global economy. england is taking iceland to court after the country voted for a second time after paying back billions of dollars in loans when the country's bank system collapsed. one more head headache. they are trying to find out medal creates likely containing large amounts of cash. players rising up and falling down the leader board. including tiger woods. early morning sports ed lines are straight ahead. >> severe weather continues to push toward the east coast and new storm for the west coast. you are watching early today. this is "early today" the green jacket means everything. here is nbc with an early look at your sports headlines. >> good monday morning. it was a masters to remember. a wild final round. it seemed like they could don the green jacket. south african charles schwart sooxt sel. he has landed. he was atop the leader board. after a great approach to eight. what was t he finished 4th at 10 under par.

as for trading volume-- 829 million shares on the nyse volume, up modestly from yesterday; about two billion shares on the nasdaq. and china's central bank has raised rates for the fourth time since october. it's the latest effort to cool inflation and ensure sustainable economic growth. >> tom: still ahead, with summer vacation season approaching, the word on the street is "travel." we'll have three travel stock ideas for your portfolio. >> susie: as we mentioned earlier, president obama and top congressional leaders meeting at the white house today could not agree on a budget deal. the president wants both sides to keep talking until an agreement is reached. how far apart they are? depends on who you ask. we're fighting for the largest spending cuts possible. we're talking about real spending cuts here. no smoke and mirrors. >> president obama: we are now closer than we have ever been to getting an agreement. there is no reason why we should not get an agreement. >> susie: joining us now for more analysis-- dean baker, co- director of the center for economic and policy research; an

i am scott walker here at the nyse. >> at one point, call volume was six times the average daily volume. welcome back to options action. >> let's be on time here, please. >> you have to set your watch ahead an hour this weekend. >> very funny. >> friday, 5:00 from here on out. >> i have been looking forward to this day for a very long time in our new time slot. the traffic was a little bit of a difficulty today. >> you can watch the first 50 minutes of the show to find out. >> how often does that happen? >> that was the first time ever. i made it here on time today. >> that stuff happens all the time in television. how do they back up? >> the hope that someone else is around to take up the slack. my co-worker was able to fill in at the last minute. in two years of doing that commutes, that had never happened to me. >> what part of the city do you live in? >> i live on the east side of manhattan. >> how long does it take you to get there? >> it takes about 35 minutes in the morning. >> when you go there? >> i get into the office between nine of 30 and 10:00 a.m., but i start my day earli

nasdaq and the intercontinental exchange announced they are joining forces to try and take over the nyse euronex from germany's deutsch bors. it encountered a staggering $11 billion is 19% higher than the previous offer from deutsch bors. after closing at its highest level since september 2008 yesterday. reports of escalating violence in libya pushing crude futures higher. according to the annual rich list, the top 25 hedge fund managers raked in a combined $22 billion in 2010 topping the billionaires boys club, paulson dalio, simons, tepper, and lambert all earning more than a billion dollars last year. >> have a great weekend. >> you too. >>> three weebs ago we introduced you to a woman who lost more than a hundred pounds on a nutritional cleanse. during that segment, her coach, olivia rikki issued a challenge to people in our area to try an 11-day cleanse in what's being called the beltway challenge. more than 100 people, including me, heard the call and took part. today we have the results of the challenge. olivia joins us again along with michelle wilson who was one of the challenge

in february, the bid was placed for nyse. nasdaq and ice teamed up to place a rival bid. they're offering a 19% premium. >> if the bid by the two companies winds, authorities will not have to face the contentious issue of having a foreign company owning the venerable new york stock exchange, the icon of wall street. other issues will arise. together, they would have a dominant position on the u.s. market. the new bid is worth a total of $11.3 billion. that includes a sizable chunk of cash. it is expected to lead to $74 billion in annual savings. it sent stocks soaring on friday trading. the bid is almost 20% higher than the february offer. deal was meant to be completed by the end of the year. the planning is said to be far advanced. the german dream of becoming no. 1 in the world may be forced to. >> a trans-atlantic takeover battle could be in the offing. here is the reaction from the frankfurt stock exchange. >> the nasdaq is going to compete for the new york stock exchange against the deutsche. it cannot afford to lose again in a merger takeover battle. when you look

chairman bob wright and his wife suzanne, co-founders of autism speaks, rang the opening bell at the nyseaks is the largest organization dedicated to the disorder, which affects 1 in every 110 american children and a shocking 1 in 70 boys. in honor of the day, landmarks around the world will be lighting up in blue to draw attention to the issue. and many of us are wearing the signature autism speaks puzzle piece pin to help spark growing awareness of autism disorders. you can find more information on autismspeaks.org. please check it out. >>> up next, women judges fighting to save women around the globe. my doctor said most calcium supplements... aren't absorbed properly unless taken with food. he recommended citracal. it's different -- it's calcium citrate, so it can be absorbed with or without food. also available in small, easy-to-swallow petites. citracal. so delicious. i think you'll find it's the vegetables. deliciously rich. flavorful! [ female announcer ] together at last. introducing new stouffer's farmers' harvest with sides of lightly sauteed farm-picked vegetables. find more w

nasdaq and intercontinental exchanges offering $11 billion to buy nyse euronext.e bid of $10 billion. this could turn into a bidding war. >> he know you'll keep an eye on it. alison kosik, live at the new york stock exchange. ♪ >>> college basketball's final four square off tomorrow in houston. butler will have a not so secret weapon back in its game. jeff fishle is here to tell us about it. >> mysterious and four legs, right? not talking about a bulldog player. we're talking about a bulldog. yeah, he was bad for the early rounds of tournament but he'll be there for the big game against vcu. it's the mascot! there he is! such a crucial part of the team! the ncaa kept him from the earlier rounds because of limited space. the dog is going in style to the game. he went to the doggie spa before grab is hig own on go charter flight. i tell you what he had waiting for him in houston coming up in 20 minutes. ron artest needs one hand to catch and score. the latest penalty box antics from vancouver's crazy green men. not little green men but green men and they kaus a lot

whereas with the nasdaq and the nyse being one, you would have virtually no competition. >> on the german and, as visibility gets more traction, can you imagine that there would be an issue? >> know. i don't think so. -- no. >> the dubai situation was because they did not go through the -- process. the second is pretty obvious. smuggling a nuclear weapon on a ship could create real problems in a country that did not have any terrorism themselves but was known to tolerate terrorists living there. the germans don't have that record and owning a financial institution will not cause it. >> you are the number 3 democratic leader. >> that is your own speculation. >> i wonder where that came from and how that has worked for you. >> it is it meyer harry reid. -- i admire harry reid. i am very close to my personal family, obviously. my colleagues are like my second family. i have two birthday parties, one with my family in new york and one with my colleagues here. i care about this caucus. i just want to do whatever makes a better caucus. i enjoy my job. everyone says you are ambitious but i never

he served in the same role where before it's consolidation with the nyse which resulted in the formatino oon of finra. he has a bachelor's from williams college, a masters of the game from the john f. kennedy school of government. he was a guest at the white house correspondents' dinner. it was a pleasure to visit with him in a more congenial setting when you introduce a the irs commissioner to them. queen latifah bowed to him. [laughter] rachel ray said, and i quote, "i'll cook for you anytime." he commands a lot of respect. give a warm national press club welcome. [applause] >> i had forgotten about that. thank you for the gracious welcome. thank you for inviting me back to the national press club. a few weeks back, i celebrated my third year, the anniversary of my third year of being in the irs commissioner. milestones like that are a good time to reflect, think about what you have gotten done, what you have accomplished, what you have learned, and what lies ahead. it has been an interesting journey so far. some things i expected, others i did not expect. one of the most pleasant surp