for "nightly business report," i'm steve leaseman. >>> coming up, after a rough few years, a demand for private planes is taking off, but is the industry going to hit turbulence? but first how treasuries, commodities faired today. >>> the planned merger of american airlines and u.s. airways is facing an anti trust suit. it was filed in san francisco on behalf of 40 consumers. it claims the combined airline would amount to lower flight load, lower quality of service and higher ticket prices and the merger means four airlines, united, dealta southwest would control the flights. >>> if traveling commercial airlines is not yur taste, expensive, not attractive, you can do what tens of thousands of others do and that is fly their own planes. as jane wells shows us, the business of private airplane ownership is taking off fast. >> we only need a 40 foot hanger to put it in. >> reporter: the private airplane business appears to be taking off. >> i've been looking at planes for a year and i have my pilot license so i want to get the plane i'll fly. >> we have the biggest backlog that we've had s

listen to what our own steve leaseman had to say earlier today on the halftime show. >> let me give you the dates we've come up with the average market participant of the survey october of 2013 the taper begins. july of 2014 qe ends. now, we asked this question how much of what you think is going to happen do you believe is already baked into the market. 68% of the move is baked in for mortgages. less for equities. >> so what can we expect from tomorrow's statement. guy adami, we'll kick it off with you. >> i'm of the belief and we said it for a while the market doesn't give you this long to sell the highs. technically it did what it needed to do today. i thought 1681 was a big level, it held bounced. obviously not a big day in terms of where the market went but important in that the market doesn't want to give up any ground. now, i could be dead wrong and this could collapse but i'm hard pressed to believe that we've been around this 1685 level for a few weeks and this will prove to be the top. >> to go higher the market must accept the fact that the taper could be coming. >> when it c

steve leaseman is back at headquarters with more. steve? >> carl, thanks.t has not made a decision about the candidates for the fed chairmanship. he hasn't narrowed it down is what the white house is trying to say. there won't be an announcement likely until the fall. i think that's important, they're trying to quiet the speculation, pretty rampant speculation in wall street and in washington. there's a sense among some in washington that the obama administration is in the process of bungling the fed chairmanship. right now the question is why would the white house go with yellen and not pick summers and what that means for yellen's credibility if she's chosen. now you have congressional democrats starting to lobby publicly against summers. it's all taken on a life of its own and the white house wants to dampen the fed head speculation. i think what they're saying is no yelling about yellen. >> steve, it was around this time, meaning september, that bernanke's name was officially put forth, wasn't it? >> it was september/october. but i think it all began, k