scott martin, chief market strategist of the united investors, you don't like this, why? >> this is all about commodities, not the market. like everybody else, i like the market going up, i am not a hater. but a story to me is commodity, not just gold and silver, but lumber, steel, aluminum all ahead of the fed move the last couple of months up big. higher prices for companies, i think it is a job killer. gerri: why is it a jobs killer? ben bernanke says he wants to bring the unemployment rate down. >> unemployment will only go up if the fed prints more money because money prices go up, if you're buying things that go into making your product, what happens when prices go up? their profitability gets hurt. you raised prices for you fire people. both bad outcomes. gerri: i wanted to ask about housing. federal reserve chairman wants to help the housing market, i don't see people crying about interest rates on 3.5%. >> mortgage rates are low enough as it is, i don't think it is getting any better, any worse, keeping rates this low is completely artificial. basically out there

cheryl: scott martin, the markets have been operating recently on that transparency.ve been expecting a new round of bond purchases. we will get about 27 minutes from now. what do you mean by that? >> look, cheryl, bernanke is serving all the drinks as he camp like it is going out of style. he has totally painted himself into a picture. the economic data is still not good enough. yes, he has to keep beating this market with liquidity. mario draghi statements were very big. i don't see the fed stepping away at all. dennis: sam, it seems like stocks could be in a big tumble. you feel like we will stick with it because stocks are headed higher overall anyway? >> i think they are headed higher through the end of the year. but on rumor, sell on fact. if the fed does do what everyone says, the thought is what do i have to look forward to. if i do not do what everyone or a majority is hoping for, they will be disappointed. i think we are to for some sort of attempted profit taking digestion of rethink gains, but our belief is still that the fed wants to make sure we can do a

like to bring in scott martin, chief investment strategist at united advisors. to have you back on the show. you saw the markets move today. is this all that the ecb? were there other factors at play? >> well the adp data was pretty good. close to 200,000 jobs predicted for friday is always great. jobless claims number was pretty good. melissa, definitely a start by draghi's comments. ashley hit on the main point. this is not a free bailout. this is not free money for everybody. this is bailout with conditions. everybody is using the term bazooka. i think it is more of a cap gun. why? what will happen to get the bailout like ashley said, countries will have to apply. by doing that that is more fiscal austerity and giving up a lot of sovereignty. melissa the countries have not wanted to do that so far. melissa: yeah, i don't know. i think they're talking a tough game but at the end of the day all these countries know that the ecb and mario draghi really want to save the euro so they will buy up all these bonds. i think the day will come down the road when they fi

with me is scott martin. scott, thanks so much for coming back on the show. saw this morning when i saw so many stocks were sitting near all-time highs was so many people out there have missed this because they were burned by the crash. they feel like the market is rigged but here's proof you can make money. >> really can. i mean the headline's great, right? that is a great story for the market. if you look around and look at the indexes it certainly makes sense. i think you're right. i think the average consumer out there, melissa, has been burned really badly in the last recession and i think companies have too. i think that's the other thing going on here. what is really behind this performance from these company stocks? to me it is profitability. profitability in companies is at all-time highs. they're not hiring people and getting more out of workers and stock prices are benefiting from that. melissa: my 5-year-old told me in the car this morning i should buy apple and amazon stock. i guess if he had said that couple months ago he would be a genius. it w

here to weigh and, scott martin, chief market strategist at united advisers. harry reid of making us uncompetitive? this is ridiculous. >> you know, it's funny. tell us something we don't know already about washington, and maybe that will be a steady it. listen. i think the funniest thing about this report, let's look back in history. when was the united states last number one, 2008. what to begin after that, and absolutely maddening financial crisis and a total business slowdown. i'm not sure of being number one is the best thing out there. byu as is now seven not get either. gerri: countries that are ahead of the spirit of money to weigh in. switzerland, singapore, finland, sweden, the netherlands, and germany. come on. we have to do better than that. taught you think? >> better than a few of them. they're very interesting. with the cornucopia. you have such a land on one hand, very big tax savings that companies like to be in because of some of the benefits that they have, on the other hand sweden is a very non tax from the country. two countries kind of up

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never more beautifully then by martin scott.is a member of the park service but we hear him down at a memorial sunday mornings. thank you so much for lifting us up with your beautiful voice and that wonderful song. i am rather overwhelmed. i want to thank janet for her leadership of the golden gate bridge highway and transportation district. didn't she managed to show appreciation to so many people so graciously? it just seems like your corporate thing to do. thank you for yoand for expressl want to do, which is to thank everyone who was a part of all this. governor brown, oh, wow. [laughter] in the spirit of his remarks -- cynthia was carried over the bridge with her father. she was a baby at the time. in that spirit, as we commemorate the 75th anniversary, it is pretty exciting for us in the theme of, from sea to shining sea, national park service, national conservancy, golden gate, recreation area -- i would like to knowledge the role that president obama had in passing the recovery act, which provided some of the funds for u

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scott pelly, see you soon. >> good evening i am alan martin. >> i am dana king and we're finding out more about the suspect thatot and gravely wounded a chp officer during a traffic stop on 680. christopher lacy got his master's and surfaces of state and was a software engineer that worked in the bay area. joe vasquez begins team coverage with a profile that investigators are trying to put together, on the suspect. >> we have been told that he pretty much to himself, he is a loner. >> according to an on-line profile, that he posted on his own website, he earned his living as a software engineer. >> last year he moved to northern california town near chico and neighbors took these pictures as investigators moved into his home last night, kick in his back door and busted out windows, there were looking for crews. clues. investigators seized six computers, s

correspondents on this story and we will go first to david martin who's been talking to his sources at the pentagon. david? >> reporter: good evening, scott. u.s. officials say this was not an out-of-control demonstration, but a well-executed attack by a well-armed band of extremist. officials suspect the attackers where either linked to or sympathized with al qaeda and that they took advantage of a demonstration against that anti- muslim film to launch their assault on the anniversary of 9/11. american ambassador chris stevens and information manager sean smith were in the main building when the attack, which turned into a four-hour gun battle, began. smith was killed. smoke and flames drove others from the building. stevens went missing and his body wasn't found until the battle was over. after he was somehow transported to a libyan hospital. u.s. officials still don't know whether he was shot to death or suffocated in the smoke. two other americans were killed in another building. stevens had his own bodyguards and the consulate itself was protected by american and libyan security forces. but there were no u.s. marines, who often serve

for all of us at cbs news, all round the world, i am scott pelly, i will see you sunday on 60 minutes. good night. >> good evening i am alan martinm dana king, back when it all started, the top-selling passenger car in the united states was a ford taurus. tonight it has been two decades of frustration, expletives, could pounding and chest thumping because the bicycle ride people love to hate and they're gearing up for their 20th birthday party. joe vasquez is here with a big frustrating, or fun, depending on your point of view, birthday bash, for critical mass. >> a couple thousand people have gathered already, perhaps more than that, you can see the crowd at justin herman plaza and as i walk right at people from different countries, a man from italy, one from brazil, a couple from canada, the costumes are interesting, very colorful, if they're wearing them, there are at least five naked men in the crowd. and the atmosphere is very festive as they're celebrating two decades of taking over the streets of san francisco. >> on the last friday of the month, for 20 years, they have mounted their bicycles and claude san fransisco traff

scott pelly, see you sunday on 60 minutes. good night. >> good evening, i am dana king >> i am alan martin, the conventions are over and now, theace is on and tonight we get a better idea of how dollars will dictate campaign strategies. political reporter grace lee is here on the size of a war chest that are driving cadidates in different directions. >> that is right, there's a sense of urgency that we're seeing from both presidential candidates today now that the conventions are finished, both are taking aim at the all important swing states. mitt romney is spending millions on a new advertising campaign, and in the meantime his running mate is heading to the bay area. >> igniting the crowd, the republican vice-presidential candidate launched an attack in the that. his message? the president is all talk, no action. >> he is not a bad guy, he is good at giving great speeches. he is just very bad at creating jobs. as >> and now a wisconsin congressman is heading to the bay area saturday morning, in mountain view he will host a global hang out, chatting with voters in forcing states but he is here to collect money as well at a fu

martin and we're going to break that. now into election news out of florida florida governor rick scott has restarted his illegal voter purge in the sunshine state it's a list of voters to be targeted as non citizens and kicked off the rolls has been shown to be riddled with errors and overwhelmingly focused on minority voters who tend to vote for democrats but governor scott is pushing forth regardless and this isn't the only way republicans are trying to steal the election in florida news broke yesterday on the brad blog the florida republican party's top recipient of funding firm name strategic allied consulting has been in the business of turning in fraudulent voter registration forms florida republican party has now cut ties with streaky strategic ally consulting but not before dishing out more than one point three million in contracts to the firm this year also this firm continues to be operating in other battleground states around the nation and also has affiliations with the mitt romney campaign here to unpack all of this to explain why it's so in. and he's brad friedman himself founder and publisher of the brad blo

evening news for tonight, scott pelly begins coverage of the democratic national convention tomorrow, for now, i am jim axelrod in new york, good night. >> good evening i am alan martinbeth cook in for dana king, the democratic national convention does not officially start until tomorrow. but the fireworks have already begun, courtesy of california's democratic party chair who used a not see comparison to go after the gop. grace lee is here with that story tonight. >> it all started when john burton, known for his off-the- cuff remarks, was talking about the vice-presidential candidate paul ryan saying that he lied in a speech last week, this part of an interview with douglas sovereign in charlotte n.c. today. >> they're willing to say that they live in a do not care, like joe's of burbles, the big lie, you keep repeating it, first of all you have republicans that truly believe that the earth is flat. they said that they do not care about facts, they will lie. so that is not a pejorative to them, they probably where it as a complement. >> he was referring to the nazi propagandist, he then went on to say that remarks at the repeated national convention were " a bold f

cbs news national security correspondent david martin has been looking into all this at the pentagon. david? >> scottu.s. officials do not believe these killings were the work of that mob that was demonstrating at the u.s. consulate. u.s. officials believe that within that mob, there were heavily armed militants who were, if you will, using the demonstration as a cover to get into that consulate and then take as much revenge as they could on americans. now, whether they were seeking revenge for this anti-muslim video or whether they were simply trying to kill americans on the anniversary of 9/11 is still unclear. >> david, thank you. let's switch to the white house rose garden. we have a live picture from the rose garden. the president will be stepping into the rose garden from the oval office. that's the door to the oval office you see there. he'll be coming out in just a moment. we are told that he will be accompanied by secretary of state hillary clinton. our white house -- and here comes the president and the secretary of state. and now the comments of the president of the united states. >> good

world, scott pelly and i will see you on sunday on 60 minutes for a conversation with both candidates for president of united states. good night. >> good evening i am dana king >> i am alan martin and we begin with campaign 2012. republican presidential candidate mitt romney in the bay area tonight for a private fund- raising event. it falls on the same day that he release tax returns. here's gristly with what is contained in those financial statements. >> if it is any indication of his wealth, his 2011 tax return is nearly 400 pages long and what you'll find is that most of it, most of the money he made is from investments so he is taxed at a lower tax rate than most americans. it is not so much about taxes today as it is the serious business of raising campaign cash and republican insiders tell me that this could be his last visit to the bay area before the election. >> here is the vantage point from chopper 5, it may be the closest the public will get to the strawberry hill estate fund raiser for mitt romney. tonight, bay area

scott brown and steve ratner paid for this message. >> ratner. shame on you. >> how much personal funds have you moved in? >> whatever it takes. whatever it takes. >> oh, my gosh! >> jonathan martinanks so much. we'll check you guys out at politico.com. >>> up next, we're going inside week one of the nfl. he's back, mike florio. the season has begun. taking us inside peyton manning's debut. we'll be back with much more. hey! did you know that honey nut cheerios has oats that can help lower cholesterol? and it tastes good? sure does! wow. it's the honey, it makes it taste so... well, would you look at the time... what's the rush? be happy. be healthy. and those well grounded. for what's around this corner... and the next. there's cash flow options from pnc. solutions to help businesses like yours accelerate receivables, manage payments, and help ensure access to credit. because we know how important cash flow is to reaching your goals. pnc bank. for the achiever in you. but with advair, i'm breathing better. so now i can be in the scene. advair is clinically proven to help significantly improve lung function. unlike most copd medications, advair contains both an anti-inflammatory