susie gharib is off tonight. i'm joined by suzanne pratt. wall street saw its first rally this month, suzanne, after six straight losing sessions. >> suzanne: tom, stocks moved higher at the open and stayed in the plus column all day. the dow rose 75 points, the nasdaq and s&p 500 both added 9.5 points. >> tom: helping the market: word the u.s. trade deficit fell in april to its lowest level of the year. it dropped 6.7% to just over $43.5 billion. exports hit a new high, climbing just over 1% to $175 billion, while imports fell slightly to $219 billion. >> suzanne: despite today's rally on wall street, the past month has not been a good one for u.s. stocks. in fact, the major stock indexes peaked at the end of april. since then, the dow and s&p 500 are down more than 5% while the nasdaq has lost 6.6%. experts point the finger directly at the economy and its softpatch. the drop this month has investors looking for protection and safety from the struggling economy. let's first assume the economy will be in "slow mo" for the next several months

i'm susie gharib. good night everyone, and good night to you too, tom. >> tom: good night susie. i'm tom hudson. good night everyone. we hope to see all of you again tomorrow night. "nightly business report" is made possible by: this program was made possible by contributions to your pbs station from viewers like you. captioning sponsored by wpbt captioned by media access group at wgbh access.wgbh.org >> more information about investing is available in "nightly business report's" video "how wall street works". to order this dvd, call 1-800- play-pbs or visit online at shoppbs.org. >> be more. pbs.

this is "nightly business report" with susie gharib and tom hudson. "nightly business report" is made possible by: this program is made possible by contributions to your pbs station from viewers like you. captioning sponsored by wpbt >> susie: good evening everyone. for president obama, the focus today was all about jobs. as he toured a lighting plant in north carolina, he tried to reassure americans that he's committed to putting americans back to work. tom, he made the case that jobs in science and tech are key to boosting u.s. economic growth. >> tom: susie, before that tour, the president met with his jobs council. that group is made up of c.e.o.s from some to the nation's biggest companies. the panel gave him five ideas to create one million jobs. they called for cutting regulatory red tape, providing more loans to small businesses, investing in energy efficiency, boosting tourism and partnering with community colleges on worker training. >> susie: president obama pledged to act on these suggestions. >> their recommendations aren't going to solve

this is "nightly business report" with susie gharib and tom hudson. "nightly business report" is made possible by: this program is made possible by contributions to your pbs station from viewers like you. captioning sponsored by wpbt >> susie: good evening everyone. stocks on wall street posted decent gains today, as investors became less anxious about greece's financial problems. european officials agreed to advance the country its next quarterly installment of bailout money. tom, investors are now focusing on this week's fed meeting. >> tom: absolute focus here, susie. fed policymakers meet tomorrow and wednesday to decide what's next for interest rates. >> susie: what will the fed chief say, and will it soothe the markets? erika miller reports. >> reporter: these are unsettling times for financial markets. but if there's one man who can calm nerves, it is the chairman of the federal reserve, ben bernake. if he shows strong conviction in the economic recovery wednesday, strategist stephen freedman says it could help support stock prices. >> clearly t

this is "nightly business report" with susie gharib and tom hudson. "nightly business report" is made possible by: this program is made possible by contributions to your pbs station from viewers like you. captioning sponsored by wpbt >> susie: good evening everyone. u.s. stocks got a one-two punch today: new worries about the u.s. economy and growing concerns about the greek debt crisis. there were violent protests in athens on government cutbacks to prevent a default on greek debt. tom, european officials also failed to agree on a new bailout package for greece and the country's prime minister proposed a new government and offered to step down. >> tom: susie, here in the u.s. investors also got disappointing news on inflation and manufacturing. the consumer price index gained more than expected last month and core prices, which exclude food and energy, rose by the most in three years. also, a regional report on manufacturing conditions this month came in below forecasts, showing that new orders are falling. on wall street, the dow tumbled 178 points,

this is "nightly business report" with susie gharib and tom hudson. "nightly business report" is made possible by: this program is made possible by contributions to your pbs station from viewers like you. thank you. captioning sponsored by wpbt >> susie: good evening, everyone. the economic recovery may be "uneven", but it's still a recovery. that's the word today from federal reserve chairman ben bernanke. speaking at a conference in atlanta this afternoon, bernanke said he's not worried about the economy slipping into recession. >> tom: but susie, bernanke did acknowledge the u.s. is not producing new jobs fast enough. he called the job market "far from normal." still, the fed chief expects economic growth to pick up in the second half of this year. as darren gersh reports, bernanke says one critical component to that growth outlook is the consumer. >> reporter: yes, the economy is slowing, but federal reserve chairman ben bernanke does not see it stalling. >> with the effects of the japanese disaster on manufacturing output likely to dissipate in co

my co-anchor susie gharib is off tonight. we begin tonight with another tough week for the economy and for investors. the major stock averages have seen six straight weeks of losses. stocks tumbled at the open today and stayed there. the dow closed 172 points lower, the nasdaq lost 41 and the s&p 500 fell 18. the losses came on heavier trading volume-- just over one billion shares on the n.y.s.e., and just under two billion on the nasdaq. here's what the week looked like for the dow industrials, falling almost 2%. the nasdaq had a tougher go, off over 3% on the week, and the s&p 500 lost 2% in the past five sessions, taking it to lows not seen since march. eaton vance's lew piantidosi say the downshifting economy is to blame for the change in investor sentiment. >> well, it's clear we need to see better economic growth, and i think a big catalyst for that economic growth is lower energy prices, which will spur some consumer demand and hiring, but we think that's coming, because when you look at corporate profitability-- that

this is "nightly business report" with susie gharib and tom hudson. "nightly business report" is made possible by: captioning sponsored by wpbt >> suzanne: good evening everyone and thanks for joining us. susie gharib is off tonight. a stunner out of the opec meeting in vienna. the oil cartel did not reach a deal to increase output, and the members usually agree on most things. >> tom: suzanne, this means new worries about oil supply through the summer and potentially higher prices at the pump just as they're starting to come down. july crude futures jumped on the news-- up $1.65 in new york trading-- closing over $100 a barrel for the first time in a week. >> suzanne: talks broke down after saudi arabia couldn't convince other nations to boost production. for insight into the opec surprise, i spoke with veteran oil analyst fadel gheit and began by asking if the impasse was political or economic. >> it's a combination political and economic. the saudis and their faction don't want to see a repeat of 2008. we don't want oil prices to get out of kroll.

susie gharib is on assignment. worry, worry and more worry about main street dominated wall street today. stocks sold off again, with the s&p 500 extending its slide to a fourth session. the index is now at its lowest level since mid march. there was no fresh economic data out today for investors, but recent reports point to an economy that has stalled. still, as suzanne pratt reports, it may be more of a speed bump for the recovery rather than a major pothole. >> reporter: two years after the recession ended, the u.s. economy should be growing at a very healthy clip. instead, new jobs are hard to come by, factory output is slowing and buyers have put on the brakes on car sales. on top of that, consumer confidence is slipping and the stock market is sliding. the big question is whether the economy's so-called soft patch will expand into something more dangerous. economist cary leahey says the risk of an extended slowdown is very high. >> you can't help look at the numbers and see that when energy prices get as high

this is "nightly business report" with susie gharib and tom hudson. "nightly business report" is made possible by: >> tom: good evening and thanks for joining us. a triple-digit rally in blue chip stocks today as u.s. investors were counting on a crucial vote of confidence in the greek government after the market close, susie, and that's how it played out. a short while ago, the greek parliament supported prime minister george papandreou. >> susie: tom, that removes a lot of uncertainty and could set a positive tone for trading here tomorrow. another important factor for investors-- a key meeting of the federal reserve. the central bank kicked off a two-day meeting today and is expected to continue its policy of keeping interest rates near 0%. >> tom: investors will be looking to the fed's statement and tomorrow's news conference with chairman ben bernanke for any subtle hints about where policy is headed. darren gersh reports. >> reporter: inflation is higher than the federal reserve expected, unemployment somewhat worse, and growth a little slower.

i'm susie gharib. good night, everyone, and good night to you, too, tom. >> tom: good night, susie. i'm tom hudson. good night, everybody. we hope to see all of you again tomorrow night. "nightly business report" is made possible by: this program was made possible by contributions to your pbs station from viewers like you. thank you. captioning sponsored by wpbt captioned by media access group at wgbh access.wgbh.org >> be more. pbs. 

this is "nightly business report" with susie gharib and tom hudson. "nightly business report" is made possible by: this program is made possible by contributions to your pbs station from viewers like you. captioning sponsored by wpbt >> susie: good evening everyone. a bullish day for bonds today. u.s. treasury prices spiked higher on worrisome housing data. investor demand for treasuries pushed the yield on the 10-year bond down to 3.05%, its lowest level this year. tom, treasuries have been on a tear for two months now. >> tom: susie, part of the reason investors are keen are bonds is growing concern about the u.s. recovery. since hitting a high of 3.73% in early february, the yield on the 10-year bond is now closing in on 3%. >> susie: suzanne pratt takes a look at what's behind the run-up in treasuries and what it means for investors. >> reporter: a funny thing has been happening in the bond market lately. "funny" as in "puzzling," and puzzling because treasury bonds have been rallying when they're supposed to be out of favor. but, there are explana

this is "nightly business report" with susie gharib and tom hudson. "nightly business report" is made possible by: this program is made possible by contributions to your pbs station from viewers like you. thank you. >> susie: good evening, everyone. washington got another warning from wall street today. moody's investors service said it will put the u.s. government's "triple-a" credit rating on review for possible downgrade if lawmakers don't make meaningful progress on raising the debt ceiling. tom? >> tom: susie, moody's wants to see progress by mid-july or it will launch the review. its current rating outlook on the u.s. is "stable." this is the second agency to warn the u.s. >> susie: the ratings agency said the widening political divide over the budget talks is forcing its hand. but if a deal is reached and the debt ceiling is raised before the august 2 deadline, the country will keep its blue chip rating. also today, moody's said it doesn't think uncle sam will go to extraordinary lengths to save some of the nations biggest banks. that could lead

this is "nightly business report" with susie gharib and tom hudson. "nightly business report" is made possible by: this program is made possible by contributions to your pbs station from viewers like you. thank you. captioning sponsored by wpbt >> tom: good evening, everyone. sighs of relief by investors all around the world today on news of a rescue plan in the works for greece. jittery financial markets stabilized after germany finally agreed to a compromise deal to resolve the economic problems in greece. u.s. stocks finished mixed for the week, but the dow and the s&p snapped a six-week losing streak. the dow gained 42 points. the nasdaq slipped seven and the s&p gained almost four points. here's how things looked for the week. the dow added 52.5 points or almost one-half of one percentage point. the nasdaq didn't fare as well falling 27 points or 1% on the week. but the s&p did turn positive on the week adding a fraction. but despite today's market rebound, investors are still worried about greece. as suzanne pratt reports, americans will be foll

my colleague susie gharib is off tonight. within the concerns shifted to italy, trading of italian bank stocks was halted due to volatility. >> we say awe rare sign of economic activity, new orders for manufactured goods rose 1.9% last month after dropping 2.7% in april. on top of that on top of that it turns out the economy grew at annualized rate of 1.9% in the first quarter. that's slightly faster than originally reported, but much slower than last year's pace. and, as suzanne pratt reports, experts are fretting about where the economy goes from here. >> reporter: this was not how the recovery was supposed to go. two years after the great recession, the u.s. economy is only sputtering along. history suggests it should be supercharged. take a look at this chart of u.s. g.d.p. growth. the numbers turned positive two summers ago. but there's been little acceleration in output, which is typical of most recoveries. economist beth ann bovino says we're traveling at half-speed. >> you'd normally like to see about 5% growth on ave

this is "nightly business report" with susie gharib and tom hudson. "nightly business report" is made possible by: this program is made possible by contributions to your pbs station from viewers like you. captioning sponsored by wpbt >> susie: good evening everyone. there is the bad news and the worse news when it comes to the job situation in america. american businesses hired only 54,000 people last month. that's far fewer than the 232,000 jobs created in april, tom. >> tom: susie, the nation's unemployment rate notched up again, rising for the second straight month. it stands at 9.1%, back to about where it began the year at 9% in january. >> susie: it's also taking longer for out-of-work americans to find a job-- almost 40 weeks, a new high. and the nation's 14 million unemployed are getting new competition-- millions of new high school and college graduates. is the weakness in the labor market temporary or a more serious problem that deserves government action? erika miller reports. >> reporter: they are smiling now, but that could change. million

this is "nightly business report" with susie gharib and tom hudson. "nightly business report" is made possible by: this program is made possible by contributions to your pbs station from viewers like you. captioning sponsored by wpbt >> susie: good evening everyone. the men and women of the federal reserve said today the economy has worsened. wrapping up a two-day policy meeting today, they said the economic recovery is progressing "somewhat more slowly" than expected, the job market is "weaker than expected," housing continues to be "depressed" and inflation has "picked up." and tom, despite that gloomy picture, the fed still says it will end its program to buy government bonds on june 30 as planned. >> tom: susie, fed members also voted unanimously to keep a key interest rate near 0%, hoping to boost the economy. the central bank's own economic forecast was revised down. it now expects the u.s. economy to grow 2.8% this year. as for the labor market, the fed predicts the unemployment rate will get down to 8.8% this year. >> susie: fed chairman ben be

this is "nightly business report" with susie gharib and tom hudson. "nightly business report" is made possible by: this program is made possible by contributions to your pbs station from viewers like you. captioning sponsored by wpbt >> susie: good evening everyone. a solid rally on wall street today as the major stock averages broke a three-day losing streak. investors were upbeat that greece will pass crucial austerity measures this week. tom, the greek parliament votes on wednesday and, if the bill goes through, the country will get billions of dollars of additional loans. >> tom: susie, also helping to ease the worry? word that french banks will roll over their greek debt into new bonds. the hope is that could avert a european debt crisis. also boosting optimism? news that global regulators have agreed to more favorable financial standards for big banks. >> susie: despite today's market rally, experts say the coming months could be rocky for investors. suzanne pratt explains. >> reporter: the lazy days of summer are finally here on wall street, but