as evident by our conversation with robert shiller earlier, the direction of home prices remains very uncertain, but the owner of u-haul says revenue from renting moving equipment was up last quarter. that helped shares of amer-co pop 8%. the stock has more than doubled in the past year. drug developer vertex saw heavy volume as it dropped almost 10%. early test results on a cystic fibrosis treatment fell short of some expectations. health insurance competitors cigna and aetna both saw decent gains. an analyst at barclyas capital thinks the two would make a compelling merger. we've been watching the u.s. listed shares of a number of chinese companies sell off hard. this week, several brokerages limited the ability of their customers to borrow money to trade many chinese stocks. charles schwab, t.d. ameritrade, fidelity and interactive brokers all have restricted the use of margin, or borrowed money, to buy stocks of certain chinese companies. e-trade did the same in march. the brokerages point to accounting questions, volatility and risk. many of the stocks with the restrictions are m

thousand jobs and many expect june's numbers to be even worse we were part of the may of the case shiller home price index saw home prices fall to the lowest point since march of two thousand and three and now robert shiller saying that another ten to twenty five percent slump in those home prices wouldn't surprise me at all but all street seems to be on the verge of what many are calling another panic mode with layoffs scheduled pessimism pervading and threats of downgrades being thrown around a new c.n.n. poll shows that forty eight percent of americans believe that this is either very likely or somewhat likely that the united states will experience a depression within the next twelve months so is this next depression and habitable planets so he stopped here to discuss this with me is anthony the director of economic research for the reason foundation anthony thanks so much for coming on tonight sure what do you say i mean i don't know if you want to call it another great depression you want to call it the double dip in the great recession there are so many names but are we heading down

long way to go in terms of income parity which means the house prices are set to crash even case shiller index says house prices will crash another twenty five percent and i guarantee you if they do crash another twenty five percent case shiller will come out again and say. another twenty five percent well as you brought up income i'll go to the next headline on this because this involves income as well and its relation to housing prices when the economy becomes a financial circus based on debt fueled acrobatics lessons from the great depression part thirty four tracking housing values from one thousand nine hundred to two thousand and eleven and this is dr housing bubble and he looks at house prices going back to one hundred forty all the way up to two thousand there was a direct link between house prices and us income but then from two thousand to two thousand and eleven the first time household incomes fell over a decade since the great depression we saw the largest housing bubble ever and then he shows this g.d.p. per capita in the us and that is in the blue and then you see the medi

the s&p case-shiller index showed housing prices hitting another new low in the first quarter of this year, down more than 5% over the same period last year. and these two are weighing heavily on wall street. worst day of the year this week after losing all of the month of may. diane swank is an economist. diane, the question on everyone's mind, is this economy moving backward? >> clearly, i'm wearing red today, so i got your memo on the red flag, ali. the economy clearly has hit a soft patch. some of it's transitory. but oil prices also weighed heavily on unemployment. losses in retail, a lot of discretionary-type spending, leisure. those areas saw the spillover taking the toll on unemployment. you notice when you go to the store, i'm waiting in longer lines with fewer people in the stores because there's fewer people to wait on you. all of that, not good. some of it coming back. we'll see that automakers are pleased with how fast japan is picking up on their supply chain and they think they can recoup a lot of this production in the second half of the year. the bad news is the headw

that's from case-shiller. they do this every month. this came out this morning.ationwide, the home prices are down 4% compared to april of last year. this is the biggest drop since dark days of 2009. we have higher open on wall street. thanks to renewed optimism about the greek debt problem. speculation is european action will take action to avoid default. are you guilty of facebooking or tweeting at work? a new study by security form called incircle shows companies may become more lax in the social media policies. they found a drop in number of companies monitoring the social media use in the office. fewer organizations are banning the use of social media compared to last year. okay. this is something you can get to free. yahoo movies has free popcorn offer. offering million fans free popcorn when they check in at regal cinemas across the country. you have to check in at popcorn.yahoo.net from a smart phone to get the deal while inside the regal theater. it runs until the end of august or until the million bags of popcorn have been redeemed. live from the new yo

standard & poor's case shiller home index says the prices rose in 13 of the 20 cities it tracks. washington, d.c. saw the biggest increase in april followed by san francisco, atlanta and seattle. despite good news, prices were down 4% from time last year. most of the improvement was likely because of the traditionally busy spring and summer home buying seasons. they say it was too early to tell if it was a turning point in the market. >>> 300 jobs are up for grabs beginning within the hour at a job fair sponsored by abc7. employers representing different fields will be looking for qualified candidate at the solano county hire event. our amy hollyfield is there live in suisun city to give us a preview. what positions are open? >> reporter: the big headline here today is medical jobs. the big superstar of the event will be at this table over here. st. helena hospital will bring with it 100 jobs. they just got the call late yesterday afternoon, the st. helena hospital would be coming. not only coming but bringing 100 jobs. the job fair organizer told me she was thrilled when she got

but the release of the s&p case shiller holm index showed signs of a weaker housing sector than many analysts expected, falling 3.6% in march and that's the lowest or weakest level in eight years so that seems to be the overriding sentiment that we're seeing so far in the markets and the follow through in tokyo markets as well. consumer sentiment data out of the u.s. also proved to be a little bit of a disappointment, weighing down on overall sentiment as well. now, here in japan, the weaker yen has provided a little bit of a short term support. if we have a look at those levels and we did see that as a major reason actually yesterday for the nikkei gaining around 2%. the yen has fallen against the euro after some positives were taken out of the upcoming plans to help out with greece's debt restructuring plan. we've had eu ministers, imf and european central bank all trying to hammer out a plan due out in late june. we'll be keeping track of at. the euro/yen currently around the 117 levels compared to upper 114 just on monday so you can see there the yen weakening against the euro. t

the s&p case-shiller 20-city home price index gained seven tenths of a percentage point from march to april. but year over year, that measure was still off 4%. meantime, consumer confidence hit a seven-month low thanks to worries about high unemployment and stagnate wages. get ready for another highly anticipated technology i.p.o.; social gaming web site zynga is expected to file for an initial public offering as early as tonight. the site known for games like farmville and cityville is expected to raise as much as $2 billion. still ahead-- gold prices have held up better than gold mining stocks during the recent sell- off. the street.com's alix steele digs for value in mining stocks. >> susie: many financial stocks did not participate in today's broader market rally. banks sold off as investors worried whether greece's parliament will approve austerity measures tomorrow. without an agreement on that plan, greece could fail to meet debt obligations later this summer and strain many of the world's biggest banks. suzanne pratt takes a look at whether u.s. bank stocks will remain under p

tuesday the s&p case-shiller home price index is out.ks fluctuation in housing markets across the country. also out is the reading on consumer confidence on the 28th. friday is the first day of july. total june auto and truck sales will be released on friday. finally, good news if you're among the world's wealthiest. it seems there's more to go around. the 15th annual world wealth report was released this week by merrill lynch and cap gemini. the number of high net worth individuals, those with assets of more than $1 million, is up. 10.9 million people around the world controlling more than $42 trillion. the largest concentration is in the united states. representing 28% of the global high net worth population. but the asian region has seen the biggest growth in both population and total wealth. adding up to 3.3 million individuals with total assets of $10.8 trillion. this is the first time asia has surpassed europe in both of those numbers. the continent has 3.1 million millionaires with $10.2 trillion in wealth. that'll do it for us fo

standard & poor's case shiller home index says the prices rose in 13 of the 20 cities it tracks. washington, d.c. saw the biggest increase in april followed by san francisco, atlanta and seattle. despite good news, prices were down 4% from time last year. most of the improvement was likely because of the traditionally busy spring and summer home buying seasons. they say it was too early to tell if it was a turning point in the market. >>> 300 jobs are up for grabs beginning within the hour at a job fair sponsored by abc7. employers representing different fields will be looking for qualified candidate at the solano county hire event. our amy hollyfield is there live in suisun city to give us a preview. what positions are open? >> reporter: the big headline here today is medical jobs. the big superstar of the event will be at this table over here. st. helena hospital will bring with it 100 jobs. they just got the call late yesterday afternoon, the st. helena hospital would be coming. not only coming but bringing 100 jobs. the job fair organizer told me she was thrilled when she got

the s&p case shiller home price index for 20 large cities fell 0.8% in march to its lowest level since the downturn began. prices are down 33% from the july, 2006, peak. economist anthony chan expects the housing market to remain in the cellar, at least until next year. >> when you look at the share of distressed housing, it's pretty high, and in that kind of environment with weak labor market conditions, it's very difficult for housing to rebound strongly. >> reporter: so, if you listened to the bond market gurus a few months ago and sold, is it too late to buy back in? some experts, like suvrat prakesh, think treasuries are still a good bet. >> when you think about the alternative investments out there, i think you've definitely got to have some bonds in your portfolio, because let's not forget the prospects for stocks looks a little shaky as we approach this current round of quantitative easing. >> reporter: others, however, say if you're still hungry for bonds, you probably missed most of the latest and unexpected rally. but, clearly bond market experts have been wrong before. suza

the april case-shiller home price numbers and june consumer confidence. monday, we go beyond the scoreboard with our weekly look at the business of sports. new planes made by airbus will be covered in alcoa aluminum. in a $1 billion multi-year deal, alcoa will provide the jet maker with aluminum sheeting and alloys. airbus plans to use alcoa's products on virtually all of its commercial jets. those alloys are said to be 10% lighter than the composites being used by other manufacturers. it's back to jail for former media mogul conrad black. a federal judge today said black will have to serve 13 more months on his convictions for fraud and obstruction of justice. he's already served over 2 years for cheating shareholders of newspapers he owned out of money. last october, a federal appeals court threw out two fraud counts against him. his total jail time was cut today, from 72 months to 42 months. >> tom: the recent stock market weakness has not left any major stock sector untouched. since the beginning of june, all 10 major stock sectors have lost money. al

. >> susie: here's what we're watching for tomorrow: the s&p-case shiller home price index for april is expected to show prices dropped 0.2% in 20 major markets following a similar drop in march. and our "word on the street" is "gold." we'll look at some undervalued gold stocks and find out why analysts think the tide could be turning. in what's being described as the ultimate inside job, a former citigroup vice president has been charged with stealing $19 million from the bank. 35-year-old gary foster was arrested at a new york airport after arriving on a flight from bangkok. in court today, foster pleaded not guilty. prosecutors accuse him of transferring money from several citibank accounts into his personal account at another bank. he faces up to 30 years in prison if convicted. >> tom: blackstone group, one of the nation's biggest private equity firms, is being asked for more information on how it pays its executives. the company said the securities and exchange commission has requested details on a clause that gives chairman and c.e.o. stephen schwarzman sole discretion to adju

the standard & poor's case-shiller home price index released tuesday showed prices dropped 4% in april in 20 major cities from a year ago. it was the biggest decrease since november 2009. but on a monthly basis, prices inched up 0.7% in april, which was the first gain in eight months. david blitzer, chairman of the index committee, said this was a welcome shift from recent months but that much of the improvement reflects the beginning of the spring/summer buying season. he noted that it's too early to tell if the improvement is a turning point or simply due to warmer weather. he also cautioned that for a real recovery it would be necessary to see several months of rising home prices large enough to shift the annual momentum to the positive side. >>> and now let's turn to the markets. for that twe are joined by our business reporter yongghi kang at the tokyo stock exchange. yongghi, how are tokyo stocks changing after industrial output numbers? >> good morning to you ai and thank you for that. we got the industrial output numbers which came in slightly better than expectation. let's see

the latest s&p case-shiller report this week found home prices in a double dip, down nationally 32.7%the 2006 peak. the home price plunge once concentrated in the bubble cities, it has spread. in minneapolis, a 10% drop, in phoenix over 8%, chicago 7.6%, washington, d.c., and the northern virginia tech corridor, that's a rare bright spot. prices increasing there. but take a listen to arizona realtor john greer about one home in on the market in the city of el mirage. >> this is a short sale property, which means the owner owes more on the property than what the house is worth, what it will sell for. this house, the list price, is $70,000. probably was worth 60, possibly 70% more than that during the peak. >> wow. 60 to 70% loss. let's bring in alease gling, this is not just arizona, this is across the country. you're seeing short sales, homes in distress, selling. that's a big part of the housing market right now? >> well, it's about 61% of the housing market according to the realtor's latest numbers. that's just way out of whack number. of course, home prices have to be going down be

the case-shiller home price index fell below the recent lows of april of 2009 during the financial crisis. that means that housing has now hit a double dip caused by a glut of houses on the market, foreclosures, and weak demand. meanwhile, auto sales for may were stuck in the mud. ford and gm were virtually flat. chrysler was up 10%, while toyota was down a whopping 33%, partially because of supply chain issues after the japanese earthquake. >>> and another ipo is heading to wall street. online coupon company groupon has filed for an initial public offering that would bring in maybe revenues of $750 million. the company had revenues in the first quarter this year of over $640 million. 83 million subscribers, but it did show a loss of 95 cents a share last quarter. so what does the jobs report tell us about the economy and where we could be heading next? mark zandi is the chief economist at moody's analytics. he joins me now with his thoughts. mark, thank you for being with us here. just your first blush response to the job numbers out on friday. they were of course much weaker than antici

the standard & poor's case- shiller index show home prices were up in 13 of the largest cities. washington, d.c. had the biggest price jump, with san francisco coming in next. experts say the spring time usually brings out pricing heights. >>> there is a budget breakthrough in sacramento. coming up, the new budget that lawmakers will vote on today. >>> 7:35. a wildfire near the los alamos nuclear plant has forced thousands to evacuate. it started sunday. it's burned 50,000 acres and destroyed 30 buildings. officials are saying the materials are safe from the flames a lot, and a lot of the people forced to evacuate are staying at an emergency shelter. >> my hearts go out to those people. they had minutes to evacuate. they evacuated with the shirt on their back and left everything they owned in their homes. >>> now, the los allah mose nuclear weapons lab is famous. that's where scientists tested the first atomic bomb during world war ii. it's run by the university of california. >>> new details are emerging about notorious boston mobster, james whitey bulger, including a bay area

is the housing market officially in a double digit standard and poor's case shiller home price index says it is new data was released for the month of march today and home prices took a drop for the eighth month in a row now leaving them at their lowest point since the downturn began prices are now down thirty three point one percent from their peak in july of two thousand and six and according to david and glitter the chairman of the s. and p. index committee there is quote no relief in sight so how do we take that news joining me to discuss this from our studio in new york is peter cardillo chief market economist partners peter thank you so much for joining us tonight so what do you say it is that official when he says that it's confirmed that we're in a double dip housing market is just under beatable news. certainly sure i mean you know you don't have to really look at the close. i mean you just have to you know. a property owner who is trying to dispose of the property and he can tell you that he's not getting the price he's asking for already has to lower it there's no question

investors today looking at report of home prices from case-shiller and keeping an eye on greek effortsgreek default. if greek defaults and italy and spain follow, it could result in losses for the u.s. money market mutual funds according to an exec at it the mutual fund manager vanguard. but it's helping the s&p snap a three-game losing streak yesterday. did you purchase kellogg, rice crispies or cocoa crispies between june 1? if you did, you may redeem. the deal is part of a settlement after class action lawsuit that claimed the product falsely improved the immune system. i'm jane king with the bloomberg business report. >>> 5:55 now. in the east bay, two peregrine falcons are recovering after being shot with a pellet gun. this one at the wildlife museum in walnut creek and her 3-month-old daughter were shot earlier this month in oakland. both had to undergo surgery to repair broken wings. the falcons are now able to eat on their own. >> just really fantastic birds. that someone would shoot these, two birds, is really criminal. it's unconscionable. >> wildlife officials believe the fa

homes lost value in all but one of the 20 major markets tracked by the case-shiller index during theee months of this year. compared to a year ago, prices are down 7% or more in several cities. and in atlanta, cleveland, detroit, and las vegas, prices are headed toward levels last seen more than a decade ago. but what is driving this stubborn downward pressure? for that, we turn to rick sharga, senior vice president of realty trac, a web site that publishes data on real estate and foreclosure trends; and mark zandi, chief economist at moody's analytics. rich sharga, are these numbers proof of a double-dip recession, that term we've all feared? >> certainly not a double-dip recession. i mean in the overall economy. but you can make an argument about the double dip in the housing market. it depends upon your definition of a double dip. is a 5% drop compared to a 20% drop a couple years ago a double dip or is it just a continuation of a downward trend that the market is trying to correct? not good news however you want to define. >> ifill: in your opinion what are the driving factors, s

we got the case shiller number. it tracks the real estate value.folks take a look at this graphic we have for them, it shows you exactly what has happened since 2006. values down almost 33%. we have hit a double-dip. how did it get this bad? >> e.d., it's partly a cascading effect. because you see as people can't pay their mortgages and banks foreclose and these mortgages go into default, that means that more and more properties are available on the market. there are more and more empty homes, more and more people that have to sell. and that pushes down the value of everybody else's property. and as other people's property becomes less and less valuable, more and more of them find themselves under water with homes that are worth less than they paid for them and actually that they owe more on their homes than their homes are worth. so they default or they walk away from their homes. and you see how it just has a multiplier effect. that's exactly what's happening. 33% drop from 2006. that's worse and a bigger drop than we had during the great depress

the most recent months studyed acording to the monthly index run by yale economics professor robert shillerort makes me a little bit more optimistic that home price also go up. >> reporter: the annual wave of spring house shopping was behind the most recent numbers which included sharp increases in washington, d.c., san francisco, atlanta, and seattle, but it's far from a strong upward trend. thousands of foreclosures are keeping prices down, government incentives are gone and things may well get worse. >> we have a big shadow inventory of homes that might be foreclosed that haven't been yet. we have a lot of people who are waiting to sell their house if they can get a halfway decent price. >> reporter: that kind of caution may well explain what's going on in charlotte, detroit, las vegas, miami, tampa and chicago, all of which have now reached their lowest home price levels in four years, so there are mixed signals from the market, with no signs of much clarity coming soon. >> i think there was a lot of people who thought when this thing turns it's going to turn super fast. it's not going

the biggest gains in the 20 city s&p case-shiller survey were seen in the washington area, seattle and atlanta. this news is fueling a rally on wall street. the dow up 145 points yesterday. as you can see the nasdaq and s&p 500 also up. >>> and french finance minister christine lagarde the new head of the international monetary fund. she follows dominique strauss-kahn who was arrested last month on assault charges. >>> president obama will hold a news conference in the white house east room this morning and it comes as the president gets involved in talks about raising the nation's debt ceiling as his war powers are being challenged in congress over libya and a week after he announced the troop draw down in afghanistan. this will be his first full news conference in almost four months, see it live 11:30 eastern at cnn and on-line at cnn.com/live. >>> to tiger woods now. he has signed his first endorsement deal since his sex scandal first broke. he was dropped by companies like gillette, gator aid, at&t. a japanese company has picked him up to puv a cream for muscle cream. the first ads