susan mcginnis is here with that and more. >> tokyo's nikkei lost a little more than 1% today. hong kong's hang seng finished up just slightly. other markets across the region were also down. wall street opens this morning amid growing concerns the global economy is again slipping into recession. last week the dow got hammered. the dow lost more than 450 points, about 4% for the week. the nasdaq lost more than 6.5%, that makes four straight weeks of losses for the market with the blue chips down 15% since july 21st. the past month had seen one crisis after another pushing stocks lower. in july it was a debate over the debt ceiling. earlier this month it was s&p's downgrade of america's credit rating. since then it's been increased worries about europe's debt crisis and growing signs of a global recession. most analysts have cut their forecasts for economic growth for the next quarter until these fears are eased. >>> the rebel push into tripoli could bring some relief at the gas pumps here. analysts say the unrest in libya has added between $10 and $20 a barrel to the cost of cr

>> susan mcginnis. good to see you. thank you so much. >>> billionaire adventurer richard branson says he'll rebuild his famous vacation home on necker island in the caribbean. it burned to the ground after being hit by lightning from tropical storm irene. one of branson's family members took this amazing video. about 20 people were there including oscar winner kate winslet. branson says winslet saved his mother by carrying her out of that burning home. >>> actor ryan gosling to the rescue. and it's all caught on tape. >> the movie. >> what movie? >> where? >> right here. >> two men were scuffling in the street here in new york. the actor wearing a striped shirt and a baseball cap stepped in to break it up to the delight of some young women nearby. the two men were arguing over a painting. gosling gave one of the men a 20 dollar bill. >>> and some sad news to report from the world of entertainment this morning. singer/songwriter nick ashford has died. ♪ ashford performed with his wife valerie simpson. together they wrot

terrell. >> susan mcginnis in long beach new york for us this morning. thank you so much. >>> city officials and residents agree it could have been a lot worse. there was some flooding in manhattan, but nothing like what would have been feared. during the storm some ignored the warnings to stay inside. they had a little fun playing street hockey in times square. but this morning one big problem remains. transportation. tony guida reports. >> sit's going to be tough. >> reporter: new york mayor michael bloomberg could have been speaking for travelers up and dound the eastern seaboard. >> i was supposed to be flying back to chicago tomorrow morning at 7:00 a.m., and that's canceled, so my next flight home is wednesday morning. >> reporter: irene hammered rail lines to new york's grand central terminal and penn station. fallen power lines blocking some tracks, mud slides others. half a million commuters will need another way to work. >> i plan on biking to work tomorrow. >> i'm going to have to walk. >> reporter: 5 million people depended on new york's subw

. >> susan mcginnis joins us live from long beach on long island. so what's the latest? how are things out there right now? >> reporter: good morning, frank and grace. here's the latest. long island and a lot of the east coast waking up to a very beautiful day. the sun is out, sky is clear, the ocean is call. people are out. they're out talking to one another. they are out getting their morning exercise, this is after quite a pounding that this area took. the other thing that they are waking up to though is certainly quite a mess that going to take quite a while to clean up. >>> >> how about new yorkers? how are they handling this? this is a little new. you get your fair amount of rain there, but nothing like this. >> reporter: i'm sorry, i'm not hearing you but let me just tell you that new yorkers are facing a rough day today even though, you know, they are very relieved that the damage wasn't as bad as it could have been. this is long island so long island railroad is very limited service. trains, buses, subways for new yorkers are slowly getting back up to speed so t

ashley -- you know what, susan mcginnis here in new york. susan, appreciate it this morning.hank you. >>> matthew fox, the star of "lost," is accused of punching a bus driver in cleveland. he reportedly tried to get on a bus early sunday morning. the woman driver says he was drunk and when she asked him to leave. he started hitting her. she hit him back. fox is in cleveland shooting a movie. the driver says she may press charges. >>> and former nba star javaris crittenton is in jail this morning in california. he's accused of shooting a mother of four in atlanta earlier this month. police say she was with two other men and one of them was the intended target. crittenton was suspended from the nba in december of 2009 for having guns in the washington wizards' locker room. when we come back we'll have your tuesday morning weather forecast. and in sports, a tough day for the new york giants. battling their hometown rivals, the jets. [ elevator bell dings ] ugh, great. you may be going up, but those roots are bringing you down! try root touch-up by nice 'n easy. to extend the lif

susan mcginnis is joining us live from long island, new york. susan, what is going on there right now? it looks not too windy where you are standing. >> it isn't too bad. we have had a lull in action. the rain has stopped. i hesitate to hope that irene has left the area. the winds are still very fierce, but we are experiencing a lull. it's dry for now. people are going to start driving more in the streets. we've seen somebody's walking around. curiosity is taking over. certainly, the worst may be over all of it is not quite over yet. >> and our producer was talking with your crew a few minutes ago. you have to just move locations. tell me about that. >> not us but all of the news crews at the beachside. these kind of areas have had no choice but to retreat as the storm surge broke through these stand doctors that were built to withstand the storm surge. those gave way so the water came through with these big sand bunkers. >> all right. it looks like we lost our connection with susan mcinnes. we will try to get her back. but the good news is it lo

. >>> susan mcginnis joins us live from long beach on new york's long island. and we understand manhattan didn't seem to get the brunt of this but there's a lot of really bad flooding up and down the east coast, right, susan? >> reporter: yeah. there certainly is. there's no doubt the flooding is a major concern. here online, up and down new jersey, the lower end of manhattan, around battery park city, here on long island, flooding is one of the big problems that folks are grappling with, clean-up and assessment of damages already under way. we have bulldozers on the beach here trying to put things back together. but it is a beautiful morning in new york. the sun is shining. the sea is calm. certainly a very different scene that 24 hours ago. >> i have friends and family in the northeast, a lot of them still without power. what's it like in new jersey, new york and up dand down the eastern seaboard? -- up and downed the eastern seaboard? >> reporter: millions are out of power. the number was 5 million at peak but it kept going on and off in different areas. the

susan mcginnis is here in new york with that and so much more. >> good morning, betty.he asian market is taking a downward turn so far this morning. tokyo's nikkei dropping more than 1% after moody's downgraded japan's debt rating. hong kong's hang seng fell more than 1.5%. today, wall street gets the july durable goods report. on tuesday stocks shook off the east coast quake. the dow shot up 322 points, the biggest gain in nearly two weeks. the nasdaq gained 101. >>> 2011 is shaping up as the worst year on record for the real estate market. new home sales fell almost 1% in july for the fourth month in a row. the construction industry estimates that every time a new home is built it creates three jobs. >>> toyota is hoping its redesign can help keep the camry at america's best selling car. the automaker unveiled the new is he dane tuesday. it will come with new technology and upgrades including a new online design system, it has tough competition from the sonata and the malibu. >>> "wall street journal" says when the new iphone 5 comes out in october sprint will join at

susan mcginnis is here in new york. >> most asian markets saw gains today as bargain hunters moved in. hong kong's hang seng index edged up a fraction and tokyo's nikkei was flat. today wall street gets the latest from the manufacturing sector, on tuesday stocks finished higher despite a report showing consumer confidence at its lowest point in almost a year and a half. the dow added 20 points, the nasdaq gained 14. >>> next week president obama delivers a major speech on job creation. the white house says he will lay out a series of steps congress can take immediately to jump-start the economy. officials tell cbs news this will include a major school construction project to refurbish and renovate schools at a cost of $50 billion, extension of the payroll tax cuts and jobless benefits at a cost of $175 billion and new incentives for businesses to grow their workforce with up to $5,000 per tax credit for each new hire. white house officials say it will all be paid for with additional deficit reductions but it remains to be seen how this plan will go over on capitol hill especially in t

live at the new york stock exchange, i'm susan mcginnis,. >>> it appears a toddler may have been caught in the crossfire of gang warfare this week. christin ayers is live in oakland with the lead investigators are following. christin. >>> reporter: elizabeth, police are keeping a lot of the information about this investigation close to the chest. a person arrested in pittsburg yesterday, they are saying, has not been linked directly to the shooting. but that arrest could be one piece of the puzzle in a homicide that police are now saying was gang-related. >> the case is moving along really quickly and they are confident that the case is going to be wrapped up soon. >> reporter: how soon no one will say. oakland police will only confirm that they are interviewing rival gang members in a section of east oakland where two gangs named after nearby housing projects frequently clash. there was an arrest tuesday but the person wasn't linked to the 3-year-old's murder. >> clearly this is a special case, very time sensitive. >> reporter: time has seemed to crawl for residents praying for a resol

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