. >> tom: i'm tom hudson. what's an investor to make of the central banks in-decision? pimco's mohammed el-erian, joins us with what you need to know about today's fed meeting. >> susie: meanwhile, volatility rocks stocks after a technology issue at one big market maker leads to a bumpy open here at the big board. >> tom: that and more tonight on "n.b.r."! >> susie: no new action from the federal reserve today, but tom, policymakers gave strong hints that it is ready to take steps, if necessary, to boost the economy. >> tom: susie, the key words from theed: it is "closely motoringncomg informatio about the economy. this is the same kind of language the fed used the last time it launched a new bond buying program. the fed's assessment of the u.s. economy was also pretty gloomy. it said economic activity decelerated over the first half of this year. employment growth has been slow in recent months. the housing sector remains depressed. and household spending has risen at a slower pace. >> susie: investors were disappointed that the fed decided to stick to its current poli

good night everyone, you too tom. >> tom: goodnight susie, we'll see you online at: www.nbr.com and back here tomorrow night. captioning sponsored by wpbt captioned by media access group at wgbh access.wgbh.org >>> tonight on "quest" -- elephant seals dive deeper, swim farther and hold their breath longer than almost any mammal on earth. but how do they accomplish such remarkable feats? bay area scientists have begun to unlock the secrets of these aquatic athletes. >>> and after multiple unmanned missions to mars, we still don't know if life has ever existed there. nasa scientists are hoping a new high-tech rover will help them solve the mystery. >>> major funding for "quest" is provided by the national science foundation and the corporation for public broadcasting.

. >> tom: i'm tom hudson. the housing mark builds a foundation as home prices mark their first year-over-year gains. >> susie: and republicans officially nominate mitt romney as their presidential candidate. tonight, we look at the history of business leaders in oval office. >> tom: that and more tonight on nbr. isaac officially became a hurricane this afternoon, bringing heavy rains and high winds to new orleans. finance ministers from the group of seven countries asked oil producing countries to step up production with the storm shutting down most production in the gulf of mexico. isaac is expected to make landfall tonight or early tomorrow morning in southeastern louisiana. while isaac isn't nearly as strong as hurricane katrina, memories of that storm seven years ago tomorrow has louisiana preparing, and evacuating low- lying areas. downtown new orleans is quiet except for those boarding up windows and doors. dwayne conrad was getting his art gallery ready for the storm. >> katrina, i felt it, it was sever

. >> tom: good evening. i'm tom hudson. u.s. stocks hit fresh three- month highs as investors grow more confident the federal reserve will soon take action to help the economy. >> susie: i'm susie gharib. freddie mac and profits, two things that haven't gone together in a long time. we look at the mortgage giant's unexpected gains. >> tom: also tonight, a study of a major new drug for alzheimer's is stopped. the cost and challenges for finding treatments for this disease. >> susie: that and more tonight on "n.b.r." >> susie: a three-peat on wall street today. the major stock averages rose for the third day in a row on investor hopes that europe is going to get its act together and central bankers will take action to fix the region's financial crisis. the dow rose 51 points; the nasdaq added almost 26, closing above the 3,000 level; and the s&p also crossed a key level, 1,400, up seven points. traders like jonathan corpina think the market will continue its slow and steady climb >> i am bullish because i don't really think there

. >> tom: good evening. i'm tom hudson. uncle sam says the u.s. corn crop could hit a 17 year low come harvest time. >> susie: i'm susie gharib. from farm to table, the midwest droughts impact on restaurant bottom lines. >> tom: and j.c. penney's bottom line comes un-stitched. the retailer posts a bigger than expected loss at it struggles with a turnaround. >> susie: that and more tonight on "n.b.r."! >> susie: it's going to be another hot weekend, and that's not good news for farmers in the corn belt. the severe drought in the midwest has ravaged crops in key farm states, and today the u.s. department of agriculture said production of corn and soybeans will drop sharply this year. this is the second month in a row that the agency cut its production estimate. the shrinking crop, could mean higher grocery bills for consumers. >> reporter: this year's corn harvest will be a lot smaller, down about 17% from spring estimates, to 10.8 billion bushels. it's lowest level since 2006. the massive drought is raising fears of a new global food crisis. the un

. >> tom: good evening. i'm tom hudson. susie is off tonight. a rescue for knight capital. the trading firm stays in business thanks to a $400 million investment. erika miller reports on a take- over offer for best buy. the founder of the struggling electronics chain wants to take it private. and the mars rover has landed on the red planet. we'll see what u.s. companies hope to gain, by signing on to the mission. that and more tonight on "n.b.r.!" a $400 mlion lifine today for knight capital group, a company that makes up some of the plumbing of the u.s. stock market. the market maker has been fighting to survive since a trading software update went hay-wire last week, leading to hundreds of millions of dollars in losses, it's stock price cut by two-thirds and now a rescue by some of its competitors. >> reporter: the deal by a half dozen wall street firms to invest in knight allowed the company to, quote, "resume normal operations immediately," end quote, according to knight. those behind the $400 million deal are investment banking firms jefferies, stephens and stifel fina

. >> tom: good evening. i'm tom hudson. the european central bank waits and watches. it's leader mario draghi takes no new moves to support the euro-zone. >> susie: i'm susie gharib. knight capital pegs losses from its trading fiasco at $440 million, but the hit to wall street's reputation could be much more. >> tom: and, we continue our look at regional banks, with one of the largest, bb&t c.e.o. kelly king joins us. >> susie: that and more tonight on "n.b.r."! >> reporter: all talk, but no >> tom: all talk, but no action. europe's central bank today failed to announce any new concrete plans to help clean up the euro-zone's financial mess. susie, e.c.b. president mario draghi said he's ready to do more, but offered no immediate steps to solve europe's financial crisis. >> susie: tom, it was a huge letdown for investors around the world. draghi had raised expectations when he promised last week to do whatever it takes to protect the euro. when he failed to deliver on that, markets sold off in europe, and here on wall street. the dow lost 100 points, the nasdaq and s&p

. >> tom: i'm tom hudson. mcdonald's shares tumble. the fast food giant posts its first monthly sales drop in nearly a decade. >> susie: and the u.s. futures market, it's been hit by scandal, but investors are still buying in. we continue our look at confidence and the markets. >> tom: that and more tonight on "n.b.r."! >> tom: there's more evidence the housing market is recovering. two reports show home prices jumped significantly in the second quarter. and it's a classic story of supply and demand. fewer homes for sale has helped push up prices for those looking for buyers. real estate data firm core logic finds home prices up 6% in the second quarter. freddie mac's survey has prices up 4.8%. this are the largest quarter over quarter price hike in at least seven years. housing had been a drag on the economy, but fewer homes for sale and record low mortgage rates have continued to repair the sector even though consumers remain cautious. >> tom: we saw the latest evidence of that caution from mcdonald's today. july sales at the fast fo

. >> tom: good evening, i'm tom hudson. the federal reserve is close to taking action to boost the economy, as soon as september. >> susie: i'm susie gharib. home sales are picking up, and business is back at luxury home builder toll brothers, we speak with its chief financial officer. >> tom: shares of hewlett- packard rise tumble the closing bell, despite soft computer sales. >> susie: that and more tonight on "n.b.r."! >> susie: a new dose of stimulus to boost the economy could be in the works. that's what federal reserve policymakers talked about at their july meeting, according to minutes released today, here's what they said: "many" fed members supported more "quantitative easing", or what's commonly called qe-3, "fairly soon" unless the economy improves "substantially." several members noted the benefits of waiting for more information to clarify the economic outlook. and policymakers agreed to defer their decision until the next meeting on september 12. those minutes triggered an immediate move in the markets, as st

. >> tom: good evening, i'm tom hudson. apple shares hit a new high after its big patent win over samsung, now it wants some samsung products banned in the u.s. >> susie: i'm susie gharib. merger monday on wall street, from cars to tech to banking, nearly $8 billion worth of deals are announced. >> tom: and, tropical storm isaac threatens gulf coast residents and energy production, but his rains could bring some relief for the mid-west drought. >> susie: that and more tonight on "n.b.r."! apple's big win in court, meant an even bigger win for shareholders today. the stock gained 2% and closed at nearly $676 a piece, an all- time high. the rally comes as apple moved today to stop the sale of eight samsung electronics devices, including its galaxy and droid smartphones. friday, a jury ruled the korean company copied critical features of apple iphones and ipads. samsung stock dropped 7% today, erasing more than $12 billion in market cap. meanwhile, apple is now valued at $633 billion. suzanne pratt takes a look at what's in st

. >> tom: i'm tom hudson. stocks trade flat on lackluster volume, we look at what it'll take to get individual investors back on wall street again. >> susie: and with the hottest july on record in the united state, the midwestern drought drives a jump in global food prices >> tom: that and more tonight on "n.b.r."! our first stop, the consumer. still spending on luxury goods. nordstrom topping wall street forecast, for instance. late today the high end department store reported earnings of 75 sebts per share, a penny ahead of estimates sdp.ordstrom is speeding up the expansion of off price stores. it's just more evidence that price is paramount for consumers. ramirez. >> new york city is considered the fashion capital of the world where you find everything from luxury retailers to sdounlt retailers. janing us to michael appel. michael, let's take a drive around town and get your thoughts onhe retail instry >> terrific. let's go. >> michael, uf've goten a barrage of readings fr, ralph lauren on. what's your out

and you, too, tom. >> tom: good night, susie. we'll see you online at www.nbr.com and back here tomorrow night. captioning sponsored by wpbt captioned by media access group at wgbh access.wgbh.org >> the following kqed production was produced in high definition. [ ♪music ] >> there was something saxophonist howard wiley heard in this music that opened up his world. >> howard wiley: it's a lot of traditions and cultures, a lot of field songs, slave hollers. i call it unrefined forms of black music. >> when adela akers retired from teaching, her work took the subtlest of turns. >> adela akers: i had more time. i could indulge in just experimenting more. >> marc bamuthi joseph: you arrive like mandela released. >> and the work and words of marc bamuthi joseph. >> marc bamuthi joseph: i want you to think about one moment in your life when you think you were behaving normally and got in trouble for it. >> this time on spark. [ ♪music ] >> major funding for spark is provided by the william and flora hewlett foundation, supporting creat

and you too, tom. >> tom: thank you, susie. we'll see you right back here next week. >> join us anytime at nbr.com. there, you'll find full episodes of the program, complete show transcripts and all the market stats. also follows us on our facebook page at bizrpt. and on twitter @bizrpt. captioning sponsored by wpbt captioned by media access group at wgbh access.wgbh.org

have a great weekend everyone, and you too tom. >> tom: goodnight susie, we'll see you online at: www.nbr.com and back here monday night. captioning sponsored by wpbt captioned by media access group at wgbh access.wgbh.org captioning by vitac, underwritten by fireman's fund >>> after the blaze at the chevron refinery in richmond prompts community outrage, prices begin to rise at the pump. bay area sikh react to the deadly hate crime in wisconsin. >> we are in a state of shock. because of the mistaken identity, we are going through some things. >> and in the wake of the shooting, a gun control measure gets renewed in the state. >>> when the two largest makers of smartphones battle in a courtroom, what does it mean for you? >>> and oracle's team usa is gearing up for the world series series. we will have what you can expect on the bay. >> these boats are fast and light. the strong winds here in san francisco bring a higher risk level. >> coming up next. >>> good evening. welcome to "this week

. >> tom: good evening. i'm tom hudson. the u.s. economy, perked up in the spring, but is it sustainable without help from ben bernanke and the fed? >> susie: i'm susie gharib. mitt romney's top economic advisor joins us from the republican national convention. he says tax and regulatory reforms could create millions of jobs, and boost the economy. tonight's market guest thinks we've seen the highs for the year, he's strategist stephen wood of russell investments. >> susie: that and more tonight on "n.b.r."! will he or won't he? that's the burning question on wall street. will ben bernanke unveil a new plan on friday to stimulate the economy? the fed chairman might have second thoughts about doing anything given news today that the economy grew faster than previously thought. the g.d.p. rose at an annual rate of 1.7% in the second quarter, up from the 1.5% originally reported. also today, the federal reserve's beige book report showed all of the central bank's 12 districts expanded gradually in july and august, thanks to a pick up i

host and author chris hedges and we begin tonight with tom's conversation with tom shadyac the man behind such films as a splinter a pet detective the nutty professor and bruce almighty and this conversation chidiac talks about what motivated him to hang up all the fame and fortune making blockbuster movies to pursue a more meaningful project trying to find out what's wrong with the world how we can fix it and ultimately how we can be happier those are questions that aren't going away anytime soon so here it is tom's conversations with great minds with filmmaker tom shadyac. conversations with great minds i'm joined by renowned filmmaker tom shadyac he's been a director a producer a screenwriter an actor a comedian you name it he's done it and his movies are some of the most widely recognized films in the last few decades from ace ventura pet detective series to the nutty professor movies to liar liar and bruce almighty his most recent film he takes us on a journey in search of the nature of humanity and what it means to live a truly fulfilling life on this planet topic will definitely ge

>> no, i don't. >> tom: but we're going to guess you're a gamer. debra borchardt with the street.com. congress has fled washington d.c. for a five-week summer recess, despite little progress on a host of bills covering everything from extending the bush-era tax cuts to interim drought relief and internet security. tonight's commentary says don't blame the g-word for all that inaction. she's veronique de rugy. senior research fellow at the mercatus center at george mason university. >> what's really the problem in washington? well, if you ask washington, they'll tell you it's gridlock, and blame inaction on some new and hyper-partisan or ideological era. but while gridlock might be blamed for slowing things down, it can't be blamed for failing to address serious issues. welfare reform and balanced budgets in the 1990s were the product of gridlock that slowly gave way to consensus. and today's washington is more than happy to come together when it suits its own interests. for instance, just last week, congress managed bi-partisan support for another