. >> reporter: rebecca got hooked on gambling during a road trip. she was only 20, but in canada, that was old enough to go after the jackpot. it's 19 to drink and 19 to gamble. >> basically, my friends were like, "roulette's an easy game, red or black. how could you lose, you know?" >> reporter: she didn't lose, and didn't think she ever would. >> having that quick money in my hand was just like unreal for me. and when i was driving home, that's all was thinking about. "i can't wait to be 21, i can't wait to do this." >> reporter: so rebecca didn't wait until she was 21. with the help of a fake id, she started taking regular trips to u.s. casinos. soon, she and her friends were draining their bank accounts to play. >> in one night, i want to say anywhere from $500 to $2,000. we would just take out of the atm or have with us in cash. >> reporter: when the cash ran out, rebecca found another option, gambling online with a credit card. she recalls the day the card arrived in the mail. >> i remember the second i got it i went on the computer. i made a

rebecca, how is microsoft? >> we should mention on joy global there's analyst commentary on that as well. microsoft, this is a big drag not only on the nasdaq, but also on the dow in terms of its weighting. weighs in at about 2% of the dow. one of the things coming out of microsoft that spooked the market, that spooked investors, is that windows sales were down. for the first time ever, really. and sales across business lines at microsoft were weak there. that was a concern. it's one of those big names that people watch as a bellwether. it's certainly weighing on things in tech land. look at the actives. >> citigroup down six cents. cit, the volatility on that stock is unbelievable. trading like an option, basically at this point. ford consolidating a little bit as well. any time something trades above the qs in terms of volume, it's significant. the volume on microsoft is extremely heavy today. we would just started talking, rebecca, about maybe they can get to 30 again. >> right. >> it's not going to happen a

so rebecca, a setback. president shrugged his shoulders today and said let's keep pushing. >> thank you, john harwood. we appreciate it. and coming up here on cnbc, lance armstrong. he has a new sponsor. we have the bottom line. [ engine revving ] [ engine powers down ] gentlemen, you booked your hotels on orbitz. well, the price went down, so you're all getting a check thanks. for the difference. except for you -- you didn't book with orbitz, so you're not getting a check. well, i think we've all learned a valuable lesson today. good day, gentlemen. thanks a lot. thank you. introducing hotel price assurance, where if another orbitz customer books the same hotel for less, we send you a check for the difference, automatically. ...or if you're already sick... ...or if you lose your job. your health insurance shouldn't either. so let's fix health care. if everyone's covered, we can make health care as affordable as possible. and the words "pre-existing condition" become a thing of the past... we're america's h

hey, mike. >> good morning, rebecca.ares of human genome ticket, hgs are up to on heavy volume, 45 million shares traded in the first hour and a half. the average daily volume is just 6 million, some short covering but a lot of it is a huge upside surprise for the lupus drug study that most on the street thought was going to fail. joining me live in another cnbc exclusive is hgsi's ceo tom watkins. mr. watkins, good morning, thanks for being here. >> good morning. >> how did you pull this rabbit out of the hat? as we mentioned, there hasn't been a new drug for lupus in 50 years or some the path is littered with failures. nearly everybody to on the street thought you were going to be the next casualty. how does this drug work? >> this is a drug target. this is a drug for a target that our company discovered in the late '90s. we first put the drug into human trials about 2001. in 2005, the results of a phase two trial informed us in a way that we have been able to design a very good phase three trial. and what we are seein

hey, steve. >> hi, rebecca. we haven't really got started on this meeting yet and beyond a reasonable doubt it's incredibly controversial for a whole host of reasons. none the less the wells elite 3,000 plus journalists in a town that is essentially locked off security zone because it was the sign of an earthquake earlier in the year when over 300 people died. the old town is absolutely dead and everity. people are concerned because it doesn't have the facilities on the ground to host a major meeting. controversy, also, about his private life and the roles that his government is playing in the global economy. controversy about the g-8 itself as well and whether it is still the right forum to discuss world issues. of course, we had a very successful g-20 in april. in london gordon brown, what successful that was. president obama will be hosting one in september later this year. so there are question marks about what can be achieved today. some of the earlier ambitions of president obama including getting somethin

>> hi, rebecca. we do this every year. third year in a roerks as you said. we rank the states on about 40 measures in ten categories, cost of doing business, workforce, quality of life, economy, transportation and infrastructure, technology and innovation, education, business friendliness, access to capital, and cost of living. so we're counting down the states that kim in one, two, three, four, five in those rankings. and here we go with our countdown and state number five. utah, the bee hive state makes its third consecutive appearance in our top five, dropping two spots from number three the past two years. utah scored 1393 out of a possible 2500 points. utah gets its best marks in the cost of doing business and quality of life categories where it comes in at number seven. it also shows a marked improvement in the education category, a pweak spot where it moved to 46 last year. utah fell hard in the economy category. 14th place this year. it had america's third best economy last year. the real estate crisis has hit hard here. foreclosures have more than d

i'm rebecca jaries.it's closing bell. >>> stocks are mostly lower after university of michigan's consumer sentiment index came in below con seven yus. that index dropping to about 76 this month from 70 a

i'm rebecca jarvis in for erin burnett. initially breathing life into stocks, but auto layoffs cueing the numbers and the market gains were very short lived here, mark. obviously not only seasonally adjusted numbers, but also we're still talking about more than 500,000 jobs here. so when people look at it, they see it as something less bad than expected, not necessarily something good, either way. >> seasonal adjustments bother the heck out of me. you know, the way it works is if they expect 100,000 layoffs in the auto industry, then they reduce the claims number by 100,000. >> exactly. >> and they think that's what's -- so economics can play some tricky games. >> yeah. anyway -- oh, yeah, futures. they picked up on the news that it has fallen back and we're down a half. we need 2.28 to get to fair value. so, you know, we're pretty much blah. >> and not only those jobless claims numbers, but the cit situation is front and center. the pending collapse, david faber has been reporting the story and he is here with the latest.

based on what he's saying, based on rebecca, doesn't make you any more bullish about alocoa. the fact of the matter is upturn in demand, we -- >> i think auto production in the fourth quarter is where you want to get on this trade but it will help these guys and help the steel companies. >> didn't we know that already? didn't we -- >> i don't thirpg it's that big of a surprise. the surprise was on the bottom line, not the top line. it means this company has cleaned up over the last few months and positioning themselves. aluminum and steel stockpiles have 20% ahead of themselves. >> your favorite nfl quarterback will be very happy about this. >> yeah? >> yeah. >> why? >> loving alocoa. >> let's check on dow futures. it looks like we are ticking slightly higher. alocoa once again because the dow is a price-weighted index, alocoa is the smallest member because its share price is the smallest on the dow so the impact on the dow is contained, but still -- >> s&p is up two points -- >> you have to remember the dow has really become irrelevant. look how it closely -- not closely, de

you know what, rebecca, there's a lotof heaeainines abot aiinines load factoto a areooking good. pricingg da d dsnsn't appeartoo beetting worse. th r rds like a big positiviv on the pace. however, thehe d deptmtmt of juststicisis t to go brg some antitrtrus iues into the space and pressurining lot o o the airline sheses. for backgroundnd, about twoononh ago, ththeraraportation papartnt gave a preliminary approvalal t continentntnd uned being aee to cooperate on routes worldwide. well, late lastt w wee the jj epeppein and said, w waia a mimitete, consumers may h hav gher fares a and fewer chchois.. while the dartment of t tgs s the final say,y, t thicould complilica a separate e rarangents. that's w whyee love d del air lis.s. delta has alreadyy lockednn the tititrt approval back in may 0808, d ed brandten,, t the esident, said in t twoyearss eyey'lbe saving about $200 million in incremental probability.y. >> brian, over t to you, hididde trtrad what's the gem? >> onene ing that peoeoee have loved to hate some of the insurance ompanies. eyeye gotten beaten down pretty hhd,d, but y

rebecca cooper has more, including why president obama visited a grocery store in virginia. >> today it at the kroger, beer was on sale for the president, a reference to the beer summit that he is holding with harvard professor henry louis gates and police officer joseph crowley. the president was there to talk about health care. today it was back to bristol, va., for barack obama, a town where voters surprised expectations by backing his presidential campaign. now he wants voters to back his health-care overhaul, insisting changes are necessary. >> i think the american people even though they are suspicious of what goes on in washington recognize that when we meet a challenge, we did not shy away. >> even voters who support the overall say slow down. am i think it will happen. but i think we should slow down. >> i would like them to slow down. i would like them to take time and understand the pluses and minuses because it is a lot of money. >> earlier, the president was in raleigh, north carolina. >> i cannot help but remember those same critics contributed to wait 1.3 trillion doll

debbie rowe says that rebecca white is a liar.lobe when it came out. that it would look bad if i did not go after them. that she has put her money where our mouth is. david, does she have a case? >> i think so. she will have to prove actual malice. with the entire world watching, with so much at stake, that she would send these kinds of e- mails, it could do tremendous damage to her as a person and to our own children. listen, in this lawsuit, i went over it very carefully, she has a long history of making unfounded allegations regarding affiliations with other stars, making false allegations of what has happened, salacious problems. that really does tremendous damage. it can be easy to cut and paste words in e-mails to make them what you want to say. it is hard to imagine that there is any credibility, and i think that debra wrote -- debbie rowe succeeds in the complaint. megyn: there were lots of allegations about this woman, rebecca of white, lying. but i do not see the proof in the complaint that the story was in fact false. i

rebecca cooper was at the news conference and joins us live from the white house. >> tonight, the president said he thought it was reasonable when the police responded to the home of the african-american scholar when neighbors said somebody was trying to break in, not realizing it was the homeowner. it is what happened next that is disputed in cambridge, and now here in the white house when the president asked -- was asked if there was evidence of racism. >> if i was trying to -- well, this is my house now, so it probably would not happen. re, hei would get shot. >> a harvard professor says once he got inside his home, he showed ihetic p tse olhi edsts rel se with homestwa . esdrt bu >> any of us would be angry. no. 2, the cambridge police acted stupidly in arresting somebody when there was already proof they were in their own home. am the president does not know if racism was involved, but says minorities are disproportionately charged in the criminal justice system. the focus of the press conference was supposed to be health care. >> the basic idea it is in this country, if you want healt

the kids get very frightened. >> reporter: rebecca golden found inspiration snuggled up to their son.all of us want to hold on to something cuddley and soft. >> reporter: she began to ask friends for new or slightly used stuffed animals. one e-mail led to another. and then to calista. >> i don't like to see people sad. >> reporter: calista is a triple threat, motivated, organized and 10 years old. >> helping people out. >> reporter: calista recruited her classmates. >> in a world, a big family and we should all help each other out. >> do you have any idea where afghanistan is? >> i don't have any idea where afghanistan is. >> afghanistan is in the middle east. next to iraq and iran. >> a war going on, probably -- people who lost a lot of stuff. >> afghanistan is now a very sad place. >> reporter: what do you think a teddy bear can do? >> when i'm uncomfortable, a teddy bear usually comforts me. >> reporter: the stuffed animals rolled in. >> i gave five teddy bears. >> reporter: rolled in some more. >> ten teddy bears. >> reporter: blue elephants, pink dragons, monkey, eeor, of course,

rebecca, go ahead. >> this is a big top line beat for the company. revenues coming out far ahead of expectations. $4.24 billion versus expectations, which had been more like 3.9 billion was the consensus estimate. the clean number, as we've been repeating here, 26 cents of a loss versus 38 cents of a loss. they've seen three consecutive quarters of losses. but in the discussion, melissa, you with just having there one of the important components of this story is obviously aluminum prices. since the first quarter aluminum prices are up about 9%. so that explains some of that top line beat there because about 70% of this company's -- 70% of this company's earnings comes from the aluminum complex. so it's a very important component of the story. we'll be listening in on their conference call when it begins live at 5:00 p.m. but two key questions here. demand going forward and prices of aluminum going forward. and of course that will have implications for the global economy as well. melissa, back over to you. >> min, the stock is pretty beaten down if yo

maria, over to you. >> rebecca, thanks so much. we'll see you later. rebecca jarvis. away from the stock market the institute for supply management reports its services index rose three points last month to an unexpected reading of 47. any reading below 50 indicates contraction in the services sector. the result in june was the highest reading since september. mining giant rio tinto is selling its packaging assets to beamus for $1.2 billion. this helps rie tinto reduce its nearly $22 billion debt load. >>> and the fda approving a new use for eli lilly's cancer treatment alimtta. it can be used for the most common cases of lung cancer after an initial round of chemotherapy. alimt sachlt already approved to treat two other forms of lung cancer as well as a cancer linked to asbestos exposure. arbitration could be looming over a construction impasse at the world trade center site. developer larry silverstein has walked away from rebuilding talks after accusing the port authority of new york and of new jersey of defaulting on part of its development agreement. the two side

>>> first up this evening, before we dive into all this, cnbc's rebecca jarvis joins us. she's got the rundown on the market, and, you know, rebecca, alcoa looked pretty constructive. this is the first earnings report of the new earnings season in what i think we can call the post-credit crunch financial crisis world. so, what can you tell us? >> yeah, it's a good point, larry. and we can tell you that alcoa came out ahead of expectations. stocks ended today's session flat. commodities fell. oil down a strictd straight session, and investors, they certainly favored treasuries flocking to ten-year options with a bid-to-cover ratio of nearly 3.3. getting back to the comment larry made about alcoa, after the bell, kicking off earnings season, a beat there. announcing a smaller-than-expected quarterly loss. but still there are concerns over demand. and oa more positive note, the president and ceo said he's seeing a pick-up in demand for trucks and a stabilization in auto demand. now, over in tech land, an operating system smack-down unfolding. the goog taking on microsoft's c

has accomplished in bankruptcy, global insight auto analyst rebecca lindland says the company is not out of the woods yet. >> they've been in the hospital and they aren't going to just spring back to health. there has to be a measure of patience so we do want to see continuing steady progress. the patient needs to start feeling better every day. >> reporter: while both the u.s. economy and economies around the world are still sputtering. last month the company's sales were off more than 30% compared to the same period a year ago. lindland says plunging home values and rising unemployment are keeping many consumers from showrooms. she doubts the economy will make a u-turn anytime soon, making a quick recovery for g.m. extremely difficult. >> they have to get the consumer back into the showrooms and they have to get new consumers into the showroom, at the same time preserving existing customers which is really going to be tough because there are a lot of people who own a g.m. product now that are kind of offended that they took government money and they went into bankruptcy and they ma

let's go over to rebecca jarvis at the nymex. rebecca? >> thank you so much, mike. and oil prices today soaring almost four bucks a barrel. we are back around that $67 a barrel level, essentially erasing all of yesterday's losses with today's gains. ray carbone of paramount options says fundamentally very little in the picture has changed. supplies are still high. demand is still weak. however, oil as well as a number of other commodities are following on the heels of a stronger stock picture, also a weaker picture as far as the dollar is concerned. and gasoline, it's an important contract to follow. today also into tomorrow. tomorrow is the expiration of the future contract. we roll over into the new positions, and we tend to see more activity in these contracts around the time of expiration. hence a lot of that activity today. lastly i want to talk about a contract that we spend less time talking about, but is an important one and has been so over the last handful of days. it's soybeans. soybeans over the last four days have surged. today on the session as you can

i'm rebecca jarvis. realtime, mexican food chain operator shares seeing 440%. their average trading volume today. no specific news. last week the burrito maker announced price hikes, store openings resulted in earnings and sales success. today the story is equity out with its results. the applebee's owner beat some of the street's expectations but came up short on same store sales. also a concern there is the debt load. we continue to watch that. over to you. >> rebecca, thank you. taking a look at some of the day's research calls. the latest upgrades and downgrades. goldman upgrading u.s. steel to buy from neutral because it should benefit from rising flat rolled steel prices and high exposure to potential recovery in the auto industry. citigroup citing lanar easily out performing rivals and jeffrey's upgrading autodesk to hold because of stabilizing business trends. the final call. tech continuing to outperform the rest of the market. but can it keep up the pace. answers when we come back on the closing bell. announcer: some people buy a car based on the deal

joining me to talk about that is my colleague rebecca jarvis. good evening. on a broad level, what exactly has pushed stocks higher? why the rally? >> in a word it's a matter of stabilization here. things were so, soad at the beginning of this year. and into the spring. what we are now beginning to see is signs of life. in the housing market, as far as manufacturing is concerned, month over month comparisons are beginning to show a little bit of growth. while it's not back to the levels prerecession, it is certainly looking like improvements. as far as earnings season goes, right now about 80% of companies reporting have beaten what wall street was anticipating. the cover of this week's "newsweek" magazine, declaring the recession is over. that might be an argument on some fronts. is it simply because housing and manufacturing fell so far, so fast? >> that is a really important component of all of this, carl. the fact of the matter is things are improving but they may not be really feeling better for american families for awhile to come. there is still obviou

rebecca. >> less than stellar reports after the bell. if things stand where they are, microsoft, american express. they open down not only significantly. but they also suppress the dow below that 9,000 market. thanks to cnbc's stat man, air yell nelson for crunching the numbers. the story, you're looking at it in the after market, indicated significantly lower. 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

cnbc's rebecca jarvis joins us from cnbc headquarters in new jersey and rebecca, the dow has been on a winning streak lately. what is fuelling the increase and do analysts really believe this will continue? >> earnings stories have been positive. take , dow component that ended the day strongest today, they came out with a wonderful earnings report, beat all of the expectations out there and one of the reasons interestingly is that they provide the respiratory devices used to help people with swine flu or to keep people from getting swine flu s they certainly benefited from that. what we are seeing after today's bell, and these are a bunch of earnings reports that came out after the closing bell today, not as good as what we have seen over the course of this earnings season. microsoft posted a steeper than expected drop in its sales. they say business is continuing to get hurt by the week weak global pc and server markets. american express also lower in the after-hours market. their earnings, beat expectations, but the revenue, the sales they generated for the quarter, they were less

cnbc's rebecca jarvis right now at earningsentral with a preview. recca? >> hey, ria. you said t. ge week for rnings. si dow components we'll get earnings across industry groups but wall street's biggest focus is going to be on the slew of financial behemoths and tech tight thanz are on deck. goldman sachs is first on tuesday. analysts saying the bank could report its largest profits since setting records in 2007. consensus calling for more than $2 billion in quarterly earnings. and behind those gains likely trading revenues, particularly in fixed income land. with much of the competition out of the picture the key question is now that cheap government tarp money is gone how are goldman's other businesses holding up and what's the outlook for the future revenue generators? traders say the gs report will likely set the tone for all the other financials that follow. jpmorgan chase out with its earnings thursday. on friday it is a busy one. bank of america, citigroup, and general electric all reporting. key question, where are we in the cycle? are we seeing some real signs of a turna

the one i especially love, rebecca, is the regional banks. all these smart guys were -- the regionals pop up! >> yeah, they do. and the reality there, larry, is that people were going with the government on that trade originally. they were saying if approximate the government insures and guarantees this company, that i'm going to stick with them and wait and see what happens with those regional banks. some of this data coming out of the housing market, some of the data that looks like things are stabilizing a little bit more at the consumer level, bode particularly well for them. and is they haven't seen the same price activity as the bigger guys. so that's another thing. >> i have two related mottos on this. first of all, number one, never invest solely on the basis of the government. it's a terrible idea. and number two, find a bank you hate and buy it, because even a banker can make money with a zero interest rate and a steep upward sloping yield curve. rebecca jarvis, thanks ever so much. >> thanks, larry. >> we had splendid news at the o

rebecca jarvis, cnbc business news. >> so who are the other big players in the smart grid sector. >> reporter:? cnbc's jim boldman has more. >> reporter: mel can a, good morning to you. the smart grid sector is interesting since there are just huge players and small players alike looking to score big as the infrastructure gets updated. ibm coming off a rocketship of a quarter has been investing huge in smart grid technology signing a deal just a couple of weeks ago with texas utility encore. the parent of this network general electric along with google are involved in a significant smart grid partnership of their own and civic cisco is working on new high-tech power meets with ge for homes and businesses. a number of small other players trying to stake their claims in smart grid technology. you heard about itron and there's converge,enernoc and intellon. this industry is just getting off the ground and as you've learned you've got to start somewhere. melissa, back to you. >> jim goldman, thank you. get ready to stop trading. mr. krimm cramer is up next, and it seems like when d.c. sl

what great timing, sue. >> well, you know what, rebecca? they are back from the brink i guess is the best way to put it. but whether or not this passes is another thing. they needed two-thirds of the majority of the legislators to do that and they hoped to vote on this on thursday. this is a budget that basically cuts broadly across all of the government's services. it hits public education, the elderly, welfare. everybody got cut, just some got cut less than others. some of the winners are the state parks and education perhaps eventually. there have been broad cuts in education in the past, the state has promised to repay those. they have not. the question is whether or not this time they will. one of the key issues is this $15 billion worth of cuts contains a lot of kicking the can down the road, if you will. some of these cuts will be put into the future and paid for in the future and they are relying on the fact that the economy out here will improve, that remains a to be seen, of course, but that's what they're betting on here in calif

rebecca, back over to you. >> becky, thank you for that.s if manhattan needs any more stores, right? >> a little busy. there have been a few stores that have never tried to make pushes in there. but taking manhattan, you know, this is a big deal for jcpenney. >> very posh. thanks very much for that, becky. bertha, over to you. >> becky, never enough stores, never enough shoes. you've got to get with the picture here.. up next, we'll take a look at second quarter gdp and look at what that might do for trading today. is the u.s. nearing an end to the recession? we'll get a full preview, coming up. >>> let's take a look at the trading day ahead. we'll bring back doj dodge dorland. dodge, today the headlines will be about that second quarter gdp number. less bad could be pretty good for the markets, no? >> yes. as a relative level, it's much better than the absolute level. 1.5 -- between 1.2 and 1.5 would be really great. if it's that good, i suspect we'll have a slight pullback as the profit taking will come in, but that will be due to the buy

rebecca cooper has the story. >> the senate passed a version much like the house that guarantees you could keep your doctor and you will be covered even if you have a pre-existing illness and guarantees almost all americans will be covered. the big trucks still, how to pay for it. today, it was the senate labor committee's turn to pass the bill overhauling health care, the vote split on party lines. >> i move to report that the bill has committed. >> with the momentum, president obama says it is time for opponents to get out of the way. >> make no mistake, the status quo on health care is not an option for the united states. >> the president insists that special interests are trying to block reforms and it launched advertisements targeting wavering politicians. >> it is time for health care reform. republic >> and insist that democrats are promising more than they can pay for -- republicans insist that democrats are promising more than a to pay for. >> here we are with the highest deficit in our country in peacetime with a bill that will top over a trillion dollars with no way of pay

rebecca cooper, abc 7 news. >>> that is all for abc 7 news at 5:00. at 6:00, suicide bombers attack two american-owned hotels in indonesia. who is to blame? president obama calls an impromptu news conference to talk about health care reform as opposition to the program grows. >> an international fugitive proclaimed her innocence to abc 7 news. in stephen tschida. i will have her story for you. >>> this is abc 7 breaking news. >> we began with breaking news out of prince george's county, where two children had to be rescued from a house fire. >> fire crews are onheensc e riverdale heights, maryland, rescue workers are performing cpr on the two children. the rescue crews are still at the scene. we have crews on the way. we will have more details as soon as they become available. >>> deadly explosions at two american-owned hotels in indonesia. >> that happened at the marriott and ritz-carlton hotels in jakarta. scott thuman has the details. jakarta. scott thuman has the details.

rebecca cooper, abc 7 news. >>> watch preside obama's prime-time health care news conference tonight at 8:00, right here on abc 7. >>> before the president gets to health care, his attention was focused on the war in iraq. earlier today, he hosted iraqi prime minister nouri al-maliki at the white house for talks on the withdrawal of american forces. the president says the net states is on track to have all combat troops out of iraq by the end of 2011 -- he said the united states is on track to have all combat troops out of iraq by the end of 2011? - 2011. >>> lynsey gramm said he would support sonia sotomayor to be the next supreme court justice. five republicans are now publicly backing sotomayor and she is expected to be confirmed in august. >>> more than it two years after seung-hui cho killed 32 people on the virginia tech campus, his mental health records have been found. virginia governor tim kaine said lawyers in a civil lawsuit discovered a former director of the student counseling center had the records at his home. the doctor left virginia tech a year before the shootings.

>> thanks very much, rebecca. reuters is reporting that the new york port authority says that larry silverstein and the developers of the world trade center site have now walked away from the project. this project has been mired in delays despite the fact that there is building going on at the site. at this point that is all we can tell you. but this is something that the city has been watching, the state has been watching, and officials have been wanting to see progress there, but now it appears that once again it's at a standstill and that the developers have walked away. we'll continue to monitor the story and bring you more details. but for right now let's move on over to the nasdaq and brian schactman. brian. >> incredibly big news, bertha. thank you very much. let's get you through the market very quickly. we've basically cut our losses in half but if you look at the market internals declines over advances basically 2-1. want to update you on data domain. it's up 2.7% at 34.12 and i'll get you to the signifi

rebecca sagullia is a mother who gave up custody for her son.s a clinical psychologist, and editor in chief of marie claire magazine covers this topic in its current issue. rebecca, if i can start with you. listening to maria that must ring a lot of bells with you, too. i know you had some similar experiences. you gave up custody of your son during the divorce. he's now 11 years old. what convinced you, given everything we know about the way women are judged, what convinced you that was the right thing for you to do? >> well, i think that the important thing to remember is that child custody decisions are very complex. and every family situation is different. and for me, i made the best decision that i could in the best interest of my son. and as parents that's what we have to do. it makes parenting the hardest job possible. >> so was it hard to deal with it, not only privately, but also when peers or colleagues had asked you about the whole issue? >> absolutely. i mean, i agree with maria. i found telling people that i was a noncustodial mom, i

rebecca jarvis kicks it off at the new york stock exchange, rebecca? >> thank you, michelle, and right now we are seeing the markets tending to the downside. the lows of the session, the focus here, commodities a big culprit behind today's slide. in particular, there's two components to the commodities story. first off, you have the strength in the dollar. near two-week highs, the dollar index. you also have the weakness, the perception that perhaps we have overshot our idea of what the economy will be going forward. and you see that in the commodity names, rio tinto, alcoa, and u.s. steel. all of these companies since their june highs have come off very significantly and one of the reasons for that say traders is perhaps they overshot some of their estimates. perhaps they thought things were getting better or improving faster, on the demand side of the equation on the commodities demand side of the equation than they actually are. of course, alcoa, we'll hear from them on wednesday, it'll be a very important, not only component of the dow, but also an

i'm here on the floor with rebecca jarvis.ou say traders are saying ism not as important. >> exactly. the traders are looking at the jobs report. we got that number on thursday. didn't look as good as many were hoping. what they want to see is sustained improvement. look at the actual levels of the market. s&p 500 is an important one because we're basically right on the verge of crossing below 893. if we sustain that, we will be below the june 22nd level. that will be back where things were in may. what traders want to see and analysts want to see is a sustained improvement of the employment data. employment leads to purchasing and leads to stronger economy across the board. in some cases it could lead to a bit under housing which is the one thing everyone is still waiting for. >> speaking of housing, obviously financials in focus. there is a dichotomy there today that you are looking at. >> interesting difficult cot . some of the smaller names, regions, co. america, they are all stronger across the board. it's just an interes

us to look at the spiders tracks s&p 500 fell eight month highs so me last time rebecca these ties wereber of 2008 which was when the presidential election and markets were up one that news. in a significant me take a look get back in uc resistance around $100 for the spiders this was the first shopping. when everything fell off a cliff back in early october run 100 or thousand for the s&p five printer and here we are. to look at the nasdaq 100 accused which trap index are actually up 31% year-to-date singeing refer the nasdaq 100. the one-year performance here is back at the highs seen not highs but back at levels seen back in october. here again with the market for stock and fell off the cliff and september and october erased all those awful war respect in the fourth quarter and first quarter now and where at the first point of ruby some significant resistance. i get about and really doesn't mean anything we've been talking about this since april of this year exactly it's been going down consistently since april when the market has been going up with no signs of backing down. speak to

erin, back over to you. >> thank you very much, rebecca. next, we're going to head over to our brand-new earnings central nerve center. we've got big banks. general electric this week. >>> of course, david faber's turn at bat. he has an exclusive for us this morning. the ceo of nrg energy. the first ber view since they rejected exlon's take over bid. the word on the street and the buzz behind the trading as investors position themselves for earnings central and the onslaught that's coming. mpanies on the planet most l speaone financial language. the language of exchanging. getherwe're helping to shape thexchanging world. nyse euronext. powering the exchanging world. >>> it's going to be a really interesting earnings season. because while the core earnings numbers may be not so good, good, the underlying, the below the line numbers are going to be huge. it's going to be the mother of all mortgage quarters. so you may have, you know, a nebulous earnings number. >> price target $286 a share. goldman's one of the big names on tomorrow's stock.

rebecca cooper is live at the convention center with a look at the huge crowds that showed up there. >> today's job fair was hosted by delegate eleanor homes norton for district residents only. but like so many of these job fairs from howard county to here in the nation's capital, thousands did show up all anxious to find work. but few left here feeling successful. they come dressed and ready to wait with resumes in hand. thousands hoping just to get in. >> they're moving quite slow right now. >> this man thought he did everything right, picking a promising field as a radiology technician and gaining experience. but he's been unemployed for a year. up against overwhelming odds and younger, cheaper competition. >> we have too many technicians out there and not enough demand. couple that up with the economy that's pretty much a recipe for disaster for people who have tenure in the field such as myself. >> i took a parallel course -- paralegal course but i have to compete with college grads. >> you're ready to get to work? >> yeah, i'm ready. >> once inside, the hope? to standut. hard i

back over to you. >> thanks to you, rebecca. we like to follow the money to see where the opportunities are around the world. right now the money isfullying into the largest eastern economy. poland. crashing. what is going on?n? let's get the answer from warsaw. he joins us to give us the details. what is happening? >> in june the main index gained 15.9% and the polish currency followed. it was over 9% and gained to over 33% against the u.s. dollar since february lows. a very different economy for the region and a different picture from the winter of this year when they went as far as to describe the region as a prime of europe and forecasting a surge in corporate default because of the large exposure for loans and foreign currency. right now the main country in the region has very much avoided the financial melt down with the help of the ims and european union. poland has been sending out reporting of a positive gdp growth in the first quarter. said to report a positive growth in the second quarter and they now say they set to

-- [inaudible] >> the ban only comes in next year, whi means swimmers like the olympic champion, rebecca rdling 10, who have chosenot to wear e latest outfits, could lose in rome. since then, a rival manufaurers have gone into a tactical arms race, plunng the sport intorisis. >> before, suits were made for and will, t sign fomodesty rather than speed. then tey gave way to soak d nylon, and the modern costume was going. today's aren't made from polyureane, which repels water, keeping the swimmer dry. t trapped air, wch helps buyancy, lifting the athletes in the wer, and they're designed to compress t muscs, allowing them to work harder, longer. sults of an extraordinary. 85 world cords in the past year, 25 in beijing alone. it was exting, but technology was becoming everything. >>s today th sws returned to the summe > i worked to get where i am now, cause put allheime in looking at the black lin u and down ery day, so i like it. i thk it will be good. >> for now, the rules state the same, which means for many, theseill behe world championships that matter, the world records that do n coun

>> rebecca, that's a really good question. it isn't a good business.t's done to support all of the other active is of an investment banking brokerage firm. it attracts investment clients and corporate finance clients to the franchise. that's basically the reason it's been kept in place in size at so many different institutions. >> given your experience on the research side of things, does the research have to be right in order to generate revenue for those other parts of the business? >> well, now you're hitting on one of the main issues. analysts really aren't paid mostly for being right. they can't be wrong all the time but they're not paid to take the risks that would be associated with being right at turning points. >> so they just don't have an incentive to be right. >> mark, they don't have a lot of incentive to call the turns in the business cycle and apply that to their earnings forecast. they want to be right. they want to be right on stocks. they want to be right on their estimates. but prognosticating involves a risk and the people they talk

now to rebecca jarvis with the full reports from earnings central. heck of a day. >> heck of a day, larry. we got to breeze through the day today to look ahead to tomorrow. we want to get to the after-the-bell earnings reports. these are the ones, if they come up, we will let you see them. but the stories of today, dow's top performers 3m blew past evenings peckations. earnings report was great. margins improving, health care, consumer, office, business. you see the stock was up $4.53 on the day, at&t meantime, also a big performer beating expectations, strong wireless growth there. continued cost-cutting. ford posted $2.3 billion profit. you see the stock was up on the day about 50 cents. mostly that profit was due to debt reduction. mcdonald's, that was the story that came out weaker than anticipation. less upbeat, stronger dollar. year ago stimulus check induced gains. that wait on profits, this time around sales not as strong as the market hoped. let's get to the stuff that happened after the closing bell. nation's biggest military contractors ca

let's get a rundown from rebecca jarvis at earnings. rebecca, how did you swing this? >> i got lucky today. so did a lot of companies. what they're making in lack of sales there, making up in cost cutting and trickling bottom down, enough to keep things positive. caterpillar you see today started out to be upsigned the early morning activity. i don't know how to work this but will do my best. started upside in the early morning activity. glitle hit in terms of what took place throughout the earlier session, after they got on that conference call, things got weaker but did offer strong guidance. a lot of leeway. lot of range. on that conference call, they said sad times are still tough, things are still tough. the interesting thing plays into what you've been talking about, where caterpillar's sales did not deteriorate is asia. and a number of stocks a number of folks paying attention to today, didn't get that benefit kater p caterpillar got, but utx see things stabilizing, the rate of decline in orders is stabilizing. but the knock on the diversified manufacturer, orde

jarvis, she is rebecca's mom. give us a taste including the new starbucks plan. >> we have three big companies reporting next week, starbucks, boeing and microsoft. starbucks has had a number of different things in the fire trying to create business, get it back online. one is going undercover. they're opening a new store in seattle that will have no starbucks branding and pilot a couple more in seattle and see if they push it out across the rest of the country. you have to understand in seattle, people like neighborhood coffee shops, what starbucks was like in the beginning and lost it as it exploded. not sure if this will work elsewhere where people look at starbucks as a big coffee. >> is it that starbucks realizes the only way to expand is to hide our brand. >> and what if they go into it and find out it's starbucks and didn't want to go into a big coffee shop. you have to give them credit, they will sell alcohol. >> alcohol sounds like a good thing to do, especially if you don't like your job in the mornings.

hello, rebecca. >> hello, larry, a lot of focus on financials. a bit of disappointment from wells fargo and morgan stanley. we're beginning to see winners and losers, wells fargo at this point in time a loser a surge of bad loans overshadowing the bank's record profit. acquiring wachovia bittersweet. they added market share but in doing so, they inherited some junk. there is some concern that will require more dollars set aside to recover more credit losses and non-performing assets./ and on cnbc, saying things are looking very strong for profitability. that's a good thing. >>> meantime, third straight quarterly lossed a morgan stanley, worse than expected. their fixed asset management results were disappointing. i want to look at the comparison of goldman sachs today, which finished to the up side and morgan stanley, which finished fractionally to the upside as well. a lot of folks saying perhaps there's a winner emerging, perhaps for some time, perhaps it's goldman sachs, morgan stanley got hit by the cost of t.a.r.p. and falling behind on fix

rebecca, maureen dowd, a cloumist in "the new york times" laid out sarah palin again today. i think that's more a liberal political thing rather than a gender thing. but columnists like ellen goodman and people like that, very, very tough. as nancy said, this seems to be an almost resentment on the part of some women against other women, particularly those with whom they disagree for even running, for even being in the game. >> well, i think you really can't separate so much the gender issue from the feminist issue in this particular case. some of these women are vitriolic. i mean, maureen dowd has demonstrated many times that she really can be pretty smoke alarmy when it comes to other women who disagree with her agenda. and i don't think we should be surprised that the media sends out their big guns and their females to try to take down a woman like sarah palin who really represents the heart and soul of american women in this country. they see her as a threat. they are going after her. bill: i don't know if she represents the heart and soul of american women. several cons

- [inaudible] >> the ban only comes in next year, which means swimmers like the olympic champion, rebecca raddling 10, who have chosen not to wear the latest outfits, could lose in rome. since then, a rival manufacturers have gone into a tactical arms race, plunging the sport into crisis. >> before, suits were made for and will, the sign for modesty rather than speed. then they gave way to soak and nylon, and the modern costume was going. today's aren't made from polyurethane, which repels water, keeping the swimmer dry. the trapped air, which helps buoyancy, lifting the athletes in the water, and they're designed to compress the muscles, allowing them to work harder, longer. results of an extraordinary. 85 world records in the past year, 25 in beijing alone. it was exciting, but technology was becoming everything. >> is today that swims returned to the summer? >> i worked to get where i am now, because i put all the time in looking at the black line up and down every day, so i like it. i think it will be good. >> for now, the rules state the same, which means for many, these will be the

before taking off from newark, the 24-year-old co-pilot rebecca shaw could be heard sniffling. she said if i call in sick now i've got to put myself in a hotel. i could always call in tomorrow. at least i'm in a hotel on the company's buck, but we'll see. i'm pretty tough. >>> with congress debating how to cut the high cost of health care, a new report shows one big reason it is so high is americans are losing the battle of the bulge. reports say obesity causes the nation's health care system as much as $147 billion a year. that adds up to more than nine cents out of every health care dollar. >> reporter: she shops at a market for fresh fights and vegetables. while it costs more, she believes it's worth it. >> it's very, very expensive to have unhealthy children or unhealthy people in general. >> reporter: a new centers for disease control study shows not eating the right things can cost you. obese people spend on average $1400 more a year on medical bills. obesity costs skyrocketed. former president bill clinton is working to fight childhood obesity. he told a cdc con fence it