i'm tom hudson. good night everyone, and good night to you too, susie. >> susie: good night tom. i'm susie gharib. 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. thank you. captioning sponsored by wpbt >> tom: good evening and thanks for watching. we're a few hours away from an important deadline-- july 22. that's the date president obama originally wanted to have a debt-ceiling deal hammered out. but, susie, it looks like that's not going to happen. >> susie: tom, democratic congressional leaders are at the white house tonight meeting with the president. house speaker john boehner thinks a majority of house republicans will end up supporting some kind of compromise to avoid a government default. >> tom: despite boehner's predictions, the only thing that's certain about the borrowing limit fight is, right now, there's no final agreement in place. but as darren gersh reports, behind the scenes, there are signs progress is being made. >> reporter: listen hard and you'll hear a new tone in washington. there's a g

i'm tom hudson. good night everyone, and good night to you too, susie. >> susie: good night tom. i'm susie gharib. 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 >> be more. pbs.... i'm your new teacher, miss stacey. she could pass for a teacher or even go on to university. our anne. diana? my little sister's awful sick with the croup. i would have been too late... you saved this little baby's life. i knew matthew was up to some foolishness. don't you like it? doesn't gilbert look dashing tonight? i hadn't noticed him. i want to wish you all the luck in the world, anne.

i'm tom hudson. goodnight, everyone. enjoy your independence day weekend. you, too, susie. >> susie: you as well, tom. i'm susie gharib. have a safe fourth and we'll see all of you again next week. "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 

i'm tom hudson. good night everyone, and have a great weekend. you too, susie. good night tom. i'm susie gharib. good night everyone. we hope to see all of you again next week. "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

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 and thanks for joining us. "come to the white house on sunday and bring your bottom line." susie, that's the message the president had for congressional leaders today on the negotiations to reduce the deficit. >> susie: after today's meeting, president obama said all sides agree on the need to raise the debt ceiling, but tom, he noted the parties are still far apart on a wide range of issues. >> tom: and on some of those issues, the president may be far apart from his own party. darren gersh reports. >> reporter: after what he called a constructive meeting with congressional leaders, the president declared it was time to start the hard bargaining needed to get a deal. >> everybody acknowledged that there's going to be pain involved, politically, on all sides. but our biggest obligation is to

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 >> tom: good evening and thanks for joining us. almost $7 billion in sales equals another blockbuster quarter for google, a blowout beginning to earnings for technology companies. susie, internet search and search advertising continue driving the big profits at the web giant. >> susie: tom, google's earnings surged almost 40% and google stock soared as well, up over $60 or 12% after the closing bell. google earned $8.74 a share in the second quarter, about $1 more than analyst estimates. google continued its hiring blitz, adding 2,400 employees during the quarter. paid clicks, or the number of times internet users clicked on the company's ads, rose 18%, in line with estimates. >> tom: morningstar's rick summer thinks google should be a core holding for investors and he's looking for $720 per share. >> they're still hitting

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 >> tom: good evening and thanks for joining us. with the united states rapidly running out of borrowing room, the president is calling on republicans and democrats to move quickly. mr. obama has called leaders from both parties to the white house for a meeting thursday and susie, he's urging them to think big. >> susie: tom, with the calendar pressuring politicians to negotiate a plan allowing the u.s. to borrow more money, the president wants a deal cut in a few weeks and says it should not be a temporary one lasting only a few months. >> tom: the budget bargaining now heads to the white house with less than a month before time runs out. darren gersh reports. >> reporter: in brief remarks before reporters, president obama tried to set the right tone for the debt limit talks that will begin at the white house on thursday.

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 >> tom: good evening and thanks for joining us. u.s. markets see-sawed today in reaction to a whirl of events around the world, susie. >> susie: tom, let's start with the federal reserve-- released minutes from its june meeting. with policymakers hinting they're open to a new round of stimulus, or so-called qe3. a warning from president obama that if lawmakers fail to reach a debt agreement, he cannot guarantee social security checks will go out on time. and moody's investor's service downgraded ireland's debt to junk status, saying the country might need bailout. >> tom: those developments, plus continued worries about europe's debt problems spreading to italy led to a volatile day of trading on wall street. as the dust settled, the dow lost almost 60 points, the nasdaq fell 20 and the s&p 500 down about six points. the l

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 and thanks for joining us. wall street put the wraps today on a rocky second quarter. stocks were buffeted by some major headwinds. from japan's earthquake and tsunami in march to the continued unrest in the middle east and europe's ongoing debt woes, as the quarter comes to a close, susie, investors had their hands full. >> susie: still, tom, u.s. stocks closed out the last trading session of the second quarter with more buying. the dow rose 152 points, the nasdaq added 33, and the s&p 500 was up 13. the rally over the past couple of sessions helped the dow turn positive on the quarter-- it was up a fraction, but the nasdaq and the s&p slipped slightly. >> tom: the best stock sector for the second quarter during all the volatility was healthcare-- that group was up over 7%. and the worst--

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. it was a day of watching and wondering on wall street. watching for progress in washington on debt talks. and, tom, wondering what would happen to financial markets if there's no deal by president obama's friday deadline. >> tom: susie, so far the u.s. stock market has been fairly resilient, supported by a steady stream of strong corporate earnings. after yesterday's huge rally, the dow dropped only 15 points today. the nasdaq lost 12 and the s&p 500 slipped almost a point. >> susie: still, many experts say investors should brace for a wild ride if lawmakers are unable to reach a deal and the u.s. defaults on its debt. erika miller reports on just how violent that reaction might be. >> reporter: in midtown manhattan, the national debt clock looms, highlighting the amount of money owed by 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. thank you. >> susie: good evening, everyone. my colleague, tom hudson, is off tonight. well, it's a nail biter on capitol hill tonight. just as lawmakers in the house were about to vote on house speaker john boehner's proposal to raise the u.s. borrowing limit and cut the deficit, the vote was postponed until later this evening. after that, the measure heads to the senate, where it's expected to fail. meanwhile, the chief executives of the nation's largest financial institutions are weighing in by urging lawmakers to reach a deal. the c.e.o.s of bank of america, citigroup, j.p. morgan chase and goldman sachs warned that the consequences of not acting would be "grave for the economy, the job market and america's global economic leadership." so, are we really any closer to an agreement? darren gersh has the latest. >> the chair will protest pone procee

my colleague tom hudson is off tonight. more debate and deadlock in washington today on the debt deal. house republicans are now scrambling to find more cuts after their plan fell $150 billion short of their $1 trillion goal. our washington bureau chief, darren gersh, brings us up to speed. >> reporter: after a blunt warning from their leaders to fall in line, some house republicans are doing just that, rallying behind house speaker john boehner's plan for a short- term extension of the debt limit. >> let's go take what we can get in this, get the five yards, get the first down and fight the next battle. >> we are very mindful not only of the fact that we can't default on our obligations, but also that if we do not rein in on government spending, if you do not get that under control, that would also be a basis for a downgrade of our bond rating. >> reporter: but others still argue august 2 isn't a real deadline. >> they're trying to create some panic in the marketplace which simply shouldn't be there. >> reporter: markets a