the nasdaq and the russell 2000 have been hit even harder. strategist andrew burkly says the market is in the midst of a garden variety correction. >> we are just viewing this as a correction. we are almost in the third year of this bull market, which started march 2009. so, we are definitely advanced, in the later stages. historically, what that meant is more time in trading ranges, more choppy environments. >> reporter: stocks are likely to take their cue from second- quarter earnings. but some analysts are concerned because expectations have been rising, even in the face of weakening economic data. >> that's the biggest risk we see out there from the u.s. equity market side right now-- just where those earnings expectations are. how temporary is this soft patch we are going through? the longer it lingers on, the more difficult it's going to be for companies to match fairly elevated expectations. >> reporter: in addition to earnings, there are other big concerns, like slowing economic growth, the end of the fed's quantitative easing program

the nasdaq fought the weak tape. it gained 1.4% since last friday. the s&p 500 shed a quarter of 1% this week. president obama is taking on the stalled debt talks. he's invited top republican and democratic senators to pick up where talks broke off yesterday. he asked senate majority leader harry reid and republican leader mitch mcconnell to separate discussions on monday. and rising commodities prices have coca-cola raising drink prices. the company said prices will go up by 3% to 4% late next month. still ahead, hewlett packard tries again to get into the tablet computer market and how the holidays are stacking up for the consumer electronics business. >> tom: google says uncle sam has it under the microscope in a blog posting today, the web search giant acknowledged receiving notice yesterday the federal trade commission has begun a formal investigation into its business. the inquiry centers around google's dominance of the internet search market. darren gersh reports. >> reporter: google famously says it's code of conduct is "don't be evil." now

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 always leads hiring, it has in the past and we think it will in the future as well. >> tom: lew will be back with us later in the program with some investment ideas. he's tonight's "market monitor." in the meantime, what should investors avoid if the economy isn't goin

stocks rose ahead of a confidence vote on greece's government-- the dow rose 109 points, the nasdaq was up 57, and the s&p 500 added 17. trading volume rose slightly from yesterday's pace, almost 850 million shares moving on the big board and 1.9 billion shares on the nasdaq. home sales slumped again during the height of the spring selling season. sales in may fell to their lowest level in six months. the national association of realtors says existing home sales fell 3.8% to 4.8 million units. the median sales price was also down, falling almost 5% to $166,500. j.p. morgan chase will pay almost $154 million to settle charges it misled investors in certain mortgage-backed securities back in 2007. specifically, the securities and exchange commission says the bank allowed the magnetar hedge fund to pick mortgages that went into the bundled securities, while separately betting against those same mortgages. harmed investors will get all of their money back. still ahead-- from the greek debt crisis to the debt ceiling debate here in america. what's at stake for the u.s. dollar? and how could

the s&p was up 17, nasdaq gained 57. taking a look at overseas trading this morning, the tokyo the nikkei raised 169, the hang seng nudged up 9. >>> growing hopes greece will avoid default led stocks to a fourth straight gain on tuesday. the nasdaq had its biggest percentage jump and the s&p 500 had its best day in two months. still traders wonder, have stocks regained their luster or is this just a run of short-term buying? regardless, tuesday wall street swaggered thanks to confidence greece's austerity minded prime minister would survive a no-confidence vote, which he eventually did, a vital step toward ending the crisis. >>> traders shrugged off negative news. sales of previously owned homes hit a six-month low in may. the nasdaq eked into the black for 2011 led by research in motion. the struggling blackberrimaker gained over 10% after a steep fall monday. still shares have lost roughly half their value and speculation squirrels r.i.m. may be bought by microsoft. >>> wal green's fell after failing to renew a deal wit

modest gains, but modest the operative word. you can seat nasdaq poised to open the day for the moment up by 0.10%. a weak start for the other two movements. >> i guess it's a relief just to see green arrows upcoming. the signs had been rather bright for the u.s. employment picture, which was due out on friday. economists were expecting at least 170,000 new private sector jobs to have been created in the past month. on wednesday, some of that optimism was extinguished by the payroll firm adp. its report suggested a total boost of 38,000 in private sector, less than a quarter of the predicted figure. fears of a slowdown in the u.s. recovery focusing on the end of q qe2, the bond bonanza. that was due to finish at the end of this month, but the slump may have arriveded earlier than expected. andrew sullivan has more on this. is it a case that we have been talking about a slowdown in the u.s.? has it or does it now look like it's much more severe than we thought? >> i think the worry with this jobs number is if they are not creating jobs, then, yes, t

the dow lost almost 22 points, the nasdaq fell 26 and the s&p 500 was off five-- its sixth straight losing session. trading volume rose from yesterday's pace to just above one billion shares on the big board and two billion on the nasdaq. the federal reserve's beige book report on regional economies showed most of the 12 fed districts saw growth during the past two months, but higher food and gas prices are weighing on consumer spending. credit ratings agency fitch says it will put its rating on u.s. government debt on watch for downgrade in august if congress doesn't boost the federal debt limit by then. moody's and standard & poor's have already warned of rating trouble, if a debt deal isn't reached. china is taking a page out of uncle sam's playbook, launching a "cash for clunkers" program to boost auto sales. owners will get up to $2,800 toward a new vehicle when they send their old one to the scrap heap. china's auto sales fell 14% last month. still ahead, should you rent or own your home? what that decision could mean for the housing recovery. also, in tonight's "street critique," hi

disappointing news is hurting the nasdaq. that rim stock is actually down 20% right now. the dow as you can see up 29, but just dropped below 12,000. the nasdaq down 10, the s&p is up 2. >>> the city of fremont will take a financial hit now that the former plant will be closed. it was sold to tessla motors. a new property assessment reduce the value of the property 600,000 dollars loss in property tax to the city. the city council approved a new operating budget that compensates for the loss of that revenue. >>> it was a big surprise for a man on a fishing trip out of monterrey bay. he was returning from salmon fishing yesterday when he spotted several orca whales inside the harbor, he catched three on video and joked about mem coming after his salmon. he said he often scuba dives and was surprised to see them that close. >>> pet food express kicks off a fundraiser to help police buy a new police dog. the department does not have money to buy 1 so pet food express is donating proceeds from a pet wash. organizers hope to raise $10,000 this weekend, which is half the average

the dow fell 61 points, the nasdaq lost 30 and the s&p 500 off 14. trading volume kicking off the week with nearly 955 million shares moving on the big board and almost 1.9 billion on the nasdaq. as the european union and the international monetary fund work on a new aid package for greece, support is building for greece to launch a debt exchange. under that scenario, greece would swap soon-to-mature debt for bonds that mature further out, but the plan is not without problems. it could also trigger a technical default. nobel prize-winning economist peter diamond has withdrawn his candidacy for the federal reserve board of governors. he wrote about how distorted the confirmation process has become in an op-ed piece for today's "new york times" called "when a nobel prize isn't enough." higher oil prices and turmoil around the globe will take a bigger bite out of airline profits this year-- so says the international air transport association. it cut its 2011 profit outlook today by more than half to $4 billion. last year, the industry earned an estimate

the nasdaq lost almost 1% and the s&p 500 fell almost 0.a%.it card shares tumbled after the senate rejected an incentive to the swipe fee measure. it would have delayed for a year when banks can charge myrrh chantz when a debit card is used. coming up thursday, investors get the latest figures on weekly jobless claims. analysts expect first-time claims to have ticked up slightly from last week. that's a wrap of the day on wall street. i'm alison kosik in new york. >>> misery on the markets is being reflected in the homes and workplaces of people right across america according to a new cnn poll. the survey reveals that four out of five of the top five concerns among u.s. voters relates to the economy. as well as the overall economic situation, respondents expressed concerns about unemployment, petrol prices and the federal deficit. as if any more evidence were needed of the prevailing pessimism, 48% expect another great depression to occur within the next year or so. a key reason for the sentiment, well, it seems as though a similar number of p

the nasdaq lost 40 and a half. the s&p 500 was off almost 13 points. big board volume dropped below a billion shares for the first time this week. nasdaq was just below two billion. in this shortened trading week, the major averages continued to drop. the dow lost 2.3% for the week, marking a ten-week low. the nasdaq shed the same-- 2.3% compared to a week ago-- and the s&p 500 saw the same kind of drop, down 2.3%. joining us to put it all into persepective, stephen wood, the chief market strategist at russell investment. steve, we saw a lot tlorn at investors this week-- stocks down five weeks in a row for the first time since 2004, does the weakness we saw this week look any different than a normal dip. >> i think it is i think what we are looking at from a multiyear per spec sieve not a v or a w shaped recovery. it's more like a square root sign where we came into a recession pretty dramatically a couple years ago an recovered. but then you platteau out at a lower rate of growth. and i think that plateauing is where we are, where we will be for a wh

both overnight, the dow jones and the nasdaq both down 2%, over 2%. what happened? >> that's absolutely right. one of the biggest reasons was we saw a sharp slowdown for may. data released on wednesday show activity in the manufacturing sector at its lowest lel since september 2009. the institute for supply management's manufacturing inbex m fell to 53.3 for may. anything above 50% shows manufacturing expanding but the pace declined from 60.4 in april. it's the third month in a row that growth has slowed, though the 22nd straight month of expansion. the index had been expected to come in around 57. survey committee chairman bradley j. holcomb says manufacturers continue to face significant cost pressures from commodities and other inputs. now let's go to the markets with the u.s. manufacturing sector showing signs of weakness, stock prices tumbled almost 280 points, the largest drop in almost a year. to see how japanese stocks are performing this thursday morning, we're going to cross over to the tokyo stock exchange. how are things kicking off here in tokyo. >> fear

the dow rose 76 points, the nasdaq was up 13 and the s&p 500 gained six. trading volume began the week with 784 million shares moving on the big board-- 1.6 billion on the nasdaq. a big win for walmart. the u.s. supreme court tossed out the nation's largest-ever employment discrimination class- action lawsuit. the court ruled a class-action suit accusing walmart of paying and promoting female employees less than their male counterparts pulled together too many cases with too little in common to be lumped together. the 1.5 million women involved can still pursue individual cases. another conviction in the government's crackdown on insider trading-- former consultant winifred jiau was convicted of conspiracy and securities fraud. she faces up to 20 years in prison. prosecutors claim she befriended insiders at tech companies nvidia and marvell technology, then passed company details to hedge fund managers. >> tom: still ahead, the investing style of warren buffett is more feminine than manly. author louann lofton's take on how buffett has made billions. >> su

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. against that backdrop, market strategist nick colas says stock investors need to play it safe. >> so, you want to be more conservative and look for things that have steadier dividends, for example, steadier earnings and cash flow streams, and are less reliant on the economy as a whole. >> suzanne: for colas, that means consumer staples and utilities. both sectors have stable demand no matter what the economy is doing, and they often pay nice dividends. on a year-to-date basis, consumer staples and utilities are already doing pretty well, and so are health care and energy stocks. investment strategist sam stovall thinks the market will be choppy in the next few months, but he says long-term investors can still make money. >> if you're looking fo

stocks to a second day of gains-- the dow rose 145 points, the nasdaq was up 41, and the s&p 500 gained 16. trading volume fell slightly from yesterday's pace with 803 million shares moving on the big board and 1.7 billion on the nasdaq. a housing surprise added to the upside for stocks-- home prices rose in april from a month earlier. 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

the dow rose a point, the nasdaq fell four and the s&p 500 was up a fraction. trading volume started the week with 905 million shares moving on the big board and just under two billion shares on the nasdaq. standard & poor's slashed greece's long-term debt rating today by three notches to triple "c." it thinks the country will see one or more defaults over the next 12 months. mexico's top banker wants to be the next head of the international monetary fund, but the french finance minister is still the frontrunner. still, mexico's augustin carstens says electing a european would be a conflict of interest because greece, portugal and ireland have borrowed so heavily from the fund. oil prices hit a three-week low today on worries the sluggish u.s. economy will crimp demand. oil fell almost $2 to settle at $97.30 a barrel. still ahead, economic winners and a loser from the business of basketball as we go "beyond the scoreboard." >> susie: this is the year millions of baby boomers turn 65 and will retire. but the sad truth is that a vast number of them have not adequ

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 following the greek drama closely for weeks to come. >> reporter: recently greece has gone from being viewed as a fabulous tourist spot to a thorn in the side of u.s. stock investors. the question now is whether greece and it's financial woes will dictate the direction of the american stock market for the immediate future. nyse trader jonathan corpina says it absolutely will because investors hate uncertainty and greece's financial outlook is far from certain. >> until we have some stability, any information about a plan or some sort recovery that's put in place coming out of europe and greece at that point then investors will feel

the dow rose 123 points, the nasdaq was up 39 and the s&p 500 added 16. trading volume rising on the big board to 913 million shares and falling on the nasdaq to 1.7 billion shares. investors were encouraged by today's retail sales data. showing consumers are still spending sales fell for the first time in almost a year last month, but still came in better than expected. they fell two-tenths of one percentage point in may. if you strip out weak auto sales, the numbers were better than expected-- up three tenths of a percent. job cuts are on the way at lockheed martin. the aerospace and defense contractor plans to cut 1,200 employees from its space systems unit-- trimming the division's workforce by about 8%. still ahead, tonight's "word on the street"? "buyout." we look at what makes for a good retail buyout candidate. >> tom: derivatives or "swaps" played a key role in spreading the damage from our housing collapse around the globe and sparking the financial crisis. well, now it's going to take a little while longer to write the rules that are supposed t

bernanke's comments sent stocks lower in the final hour of trading: the dow fell 19, the nasdaq and s&p 500 both lost a point. trading volume fell from yesterday's pace with 930 million shares moving on the big board, and below 1.9 billion on the nasdaq. another sign of weakness in the labor market-- employers posted fewer "help wanted" ads than expected during april. there were three million job openings, down from 3.1 million in march. just a day ahead of opec's latest meeting, a ministerial committee says the cartel should boost oil production. the idea is to lift output by one to one and a half million barrels a day, helping to lower prices and meet global demand. and lower pump prices may be on the horizon. the energy department cut its summer pump price outlook. it now thinks gas will average $3.75 a gallon-- that's a six cent drop from last month's forecast and still way above last summer. still ahead, we talk with the head of the tel aviv stock exchange about how the political uprisings in the mideast are affecting business in israel. >> susie: ford motor was the hot topic her

the dow gained 72 points, the nasdaq up 11 and the s&p 500 added 10. as for volume, 910 million shares moving on the big board and 1.8 billion on the nasdaq. a lot of deal-making in the housing market in may. the number of people signing contracts to buy a home surged 8.2% last month. still, the national association of realtors says many of those deals are having trouble closing because buyers are having a tough time getting appraisals for financing. and the marriage between the london stock exchange and the canadian exchange operator, t.m.x. group, is off. the companies are walking away from the deal because they say it is "highly unlikely" they'll get majority approval from t.m.x. shareholders. still ahead, we'll find out what's driving tonight's stock pick: ford. "street critique" guest hilary kramer looks under the hood. >> tom: banks will be able to collect up to 21 cents from retailers every time shoppers swipe their debit card. while that's down considerably from what banks could charge, it is more than what the federal reserve first proposed. t

the dow fell 41 points, the nasdaq rose four, the s&p 500 lost a point. a billion shares traded on the big board, just under two billion on the nasdaq. new claims for jobless benefits fell by 6,000 last week to 424,000. it's the eighth straight week that number was above 400,000. and bloomberg news reports that goldman sachs was subpoenaed by the manhattan district attorneys office. the d.a. reportedly wants to know about a senate report on goldman's business dealings ahead of the financial crisis. no comment from goldman or the d.a. >> reporter: still ahead, i talk with the c.e.o. of saks about the outlook for luxury retail as the economy slows. >> tom: online banking customers, video gamers and users of google's e-mail all have faced the potential of electronic i.d. theft in recent weeks. the threats also expose those companies to financial losses and tarnished reputations. the latest electronic break-in was disclosed this week by google, claiming its g-mail service was attacked by hackers in china. china's foreign ministry denies it supports hacking. t