u.s. economy shows fresh signs of weakness. >> we have been saying for some time now that the u.s. recovery is a half-speed recovery. it's been about half what you'd normally expect for the united states one year after a recession ends, so it's not going to feel really good to most. >> tom: we put today's selloff in context and look at a potential shift in the labor market. one bright spot, a hot new tech stock. it's "nightly business report" for wednesday, june 15. 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

u.s. occupies a very special role in the global economy. we are in the middle of the global economy. people depend on the dollar as the u.s. reserve policy. they depend on our financial system to help with our savings and investment. if our standing comes down bus of some credit event this would be really bad news for the u.s. economy. >> so what are your strategies at pimco and more importantly what should the average investor do, what changes should they make in their portfolio. what investment strategies should they pursue during these uncertain times. >> so the first thing susie is to recognize this loss of moving pieces. we spoke about europe. we spoke about the debt ceiling. let's also not forget the u.s. economy is weakening in this disagreement is it temporary, more permanent. let's not forget the middle east it is still unstable. we just haven't talked about it for a while. so lots of moving pieces and lots of volatility. investigators have to navigate. our feeling is that the volatility would be accompanied by a downward trend in equity prices. so we would say take advantage

u.s. economy. we learned we have serious inflation in many parts of the world most of the world already and we're going to have more inflation throughout history when you print money it leads to inflation the news pretty simple so america's debasing its currency at a rapid rate there's going to be more of it surely as i said before it's going to lead to higher interest rates higher prices please i hope everybody watching this show starts protecting figure out ways to protect themselves how are you protecting yourself i know you don't really need a lot of protection you're here you've done very well but i mean what should average people be thinking about. well i mean if i would average an average person and i happen to own commodities including gold and silver you know lots of things stock up on rice i mean the price of everything is going to be going i or learn about buying commodities or it doesn't have to be a dangerous and scary thing to do inflation by definition is prices rising well only thin

u.s. economy is only growing about a 2% pace right now and that's not enough to create a lot of jobs. i think the key thing people need to realize is that it's more likely this economy will sort of trouble along and then pick up speed than it will collapse. because when you have a recession, what happens is something goes from boom to bust, and there's nothing booming in this economy. it very hard for something to collapse when it's already in the basement. you look at vehicle sales or housing starts or business unveners to, they are all very low now, so we don't expect them to move down. we think they will move up in the second half of the year, so we still feel confident about the second half of the year. but it a little surprising the market sold off today. >> susie: a lot of people are saying the federal reserve will step in and fix things up. do you think the finish will come in and buy more government -- bonds or take some other action? >> i sure hope not. because the u.s. economy is not suffering from a lack of liquidity. it's suffering from a lack of confidence. and the problem

u.s. economy in the wake of all of this bad news. joining me is peter schiff president of euro pacific capital to talk about this peter excuse me thanks so much for being with us first of all i want to take a look you know we always hear these jobs numbers reports they're better this month they're worse this month but i want to look at this chart and i hope that they printed it out for you if we could put it up the unemployment chart so there are a lot of numbers in this chart but really the biggest takeaway is that that red line is the unemployment rate the unemployment in the recession the worry and i compared to all the other recessions in this country's history and it is way worse when it comes to joblessness so my question for you is if you know is this a blip on the radar or is this you know a really dire situation that something really major has to be done about. it's dire the reason that the chart looks as bad as it is is because we're not in a recession this time we're in a depression you know unfortunately we didn't lose en

u.s. economy new jobs numbers revealed today the worst private sector job growth in eight months coming last month knocking unemployment rate up from nine to nine point one percent and according to some estimates an analyst at morgan stanley up to half of those jobs last month could have come from mcdonald's also a distressing housing report from economists earlier this week or has economists rather saying that residential real estate has essentially double dipped the u.s. debt ceiling hasn't been raised an issue. and moody's as a result issued a warning on the country's credit rating as a result and president obama today right there in the face of these dismal numbers gave a speech at a chrysler plant to celebrate the resurgence of the auto industry saying in the economy there are going to be bumps on the road to recovery but is this more than a bump is it time for a major rethinking of the u.s. economy take a look at this chart there are a lot of numbers here but what you really need to know is that that red line is unemployment in this recession and all those other lines are unemployment

u.s. economy pulled the dow jones down nearly 1.5% overnight. to see how tokyo stocks are doing, let's cross over to ramin mellegard who is at the tokyo stock exchange. hi there, ramin. what kind of action are you seeing this thursday morning? >> reporter: very good morning to you ai, and as you see there, the nikkei and the topix extending losses. the nikkei was down almost 100 points just when the marts kicked off, and that follows the concerns overseas. we did see quite a move across equities, bonds and currency markets on the back of concerns over greece's pending debt restructures plans as well as the manufacturing data for the new york region that you mentioned as well. now the reaction in currencies was pretty clear-cut with the euro losing out against a basket of currencies on the back of those debt concerns, it fell around 2% against the dollar, and is currently trading around 114 against the yen, compared to 116 earlier in the week, showing the yen's strength there. we have to mention crude oil as well, which fell on the back of the ri

u.s. economy has hit a soft patch. the question is whether the recovery will slow further when the fed stops its second bond- buying program at the end of this month. in spite of those concerns, some analysts think corporate profits can continue to surge. part of the reason is productivity has been improving, thanks to cost-cutting during the recession. in addition, almost half of the revenues for s&p 500 firms come from overseas. taken together, some analysts predict strong earnings will propel the market up about 10% by year end. >> if we take a look at fundamentals, we take a look at corporate balance sheets and margins, and we take at expected earnings not only for this year but for next year, we do think there's an opportunity in the equity markets here on the back of stronger earnings. and i would personally view this as a buying opportunity to get in, if you are a long-term investor. >> reporter: that's reassuring for stock investors, who have watched the market flounder the past six weeks. but it's not much con

u.s. economy. can the bond rally continue? >> we think the rally is a bit long in the tooth. there still could be some movement down in yields, but we don't think it's the great investment out there. >> tom: key to kick-starting the economy? jobs and getting the long-term unemployed back to work. how to get back in the game after six months or more on the sidelines. you're watching "nightly business report" for tuesday, may 31. 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.

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 average for the united states. just to keep up with the average. so, the last year was close to 3% was not nearly not near that. and, right now it's coming in lower than that, we're very subpar in terms of growth. >> reporter: other economists are less concerned about subpar growth. they say after a deep recession, it makes sense the rebound is lackluster. economist conrad de quardos says the more worrying part of the economic picture is the lack of job growth. >> given the damage that was done to the labor market during the recession, we need a much stronger pace of growth in the labor market that what we've seen to sort of the dig ourselves out of the hole that we're in. >> reporter: and, some expe

u.s. economy. now we did also see some key banking stocks just as jpmorgan and bank of america also weighing on the dow. federal reserve chairman ben bernanke is due to speak at a conference later today in the u.s., and a lot of analysts are keen to hear what he has to say about the latest weakness in the u.s. economy. also, many economists here in japan are going to be paying strong attention to any wording and if the fed may, in fact, be considering another round of quantityive easing or qe3 as it's known in the markets, if the u.s. economy continues to falter, so that will be keenly watched. here in japan elsewhere the crisis founding the fukushima nuclear power plant and also its operator, tokyo electric power company or tepco continues. we did see shares of tepco fallg 27.6% to an all-time closing low, so tepco also continues to be in the focus. the other worries surrounding tepco is also for japanese banks, many of which may come under pressure if they fail to get back a lot of the loans that

u.s. economy doesn't exist in a vacuum. while the federal reserve's moves and messages can have powerful influence, the fed is not the only moving force out there. earlier this week, cnn's maggie lake spoke with the ceo of the global investment firm the bond fund firm pimco. the head is mohammed el-erian. tyson said she doesn't think that ending qe2 will have much effect. el-erian said he isn't sure about that. they both agreed that weak growth and europe's sovereign debt crisis have left investors scratching their heads and wondering what to do. maggie asked tiszen a tyson and what is needed to get the economy moving again. the answer is leadership. >> i actually am becoming more optimistic that we will certainly see something on the debt limit and what seems to be going 0 in washington is an agreement that the discussion of the debt limit will be associated with a large multiyear commitment to the $4 trillion over ten years. we can, if we put enough into that statement that's credible, then a lot of the details could be w

u.s. economy to ensure recovering the basics i'm sure that we make here is that the risk you retreat from all perspective if you don't think it will be a q e three coming through we believe the q e two would end in june and that's about it because we believe that there is enough mention generated in the u.s. economy to actually be able to post a moderate we call it was the end of the seer not your forecast you to think that the u.s. economy grew at three point three percent but i think this year and that should be enough just by looking we three and i think. one of the speakers basically said recently that it would be very hard for him to get a commute through as well because he sees inflation coming back and so he called me already so we don't think that if you can be three years. well stuck on a minion produce a rule sol says it plans to produce four point one million tonnes this year despite the figure being roughly the same as last year and companies investing heavily in new capacity ahead of capital markets outlined. this here we plan to have quite the flats level of production so it

u.s. economy. i would love to your boat your views on that. >> i will talk about our side of the ledger, our objectives. from our perspective, the most important things we would like to see our progress on financial reforms that provide a deeper, more liquid market for corporate debt, infrastructure financing that allow more access to american companies. our interest are pretty complementary as a whole. we are working with the grain of the reform imperative as well, which is the only way to make progress. i do not see any conflict between our interest or objectives there. that is where writer at a good motors -- most of the near-term emphasis. -- that is where we put most of the near term if this is. if you look at what is going to happen to wage costs, the cost of doing business, in india and in china, to, they will be increasing more rapidly over the next decade or so. what that means is the economics of the decision about where a u.s. firm may decide to produce or build something is going tohang

u.s. economy. now those briefings are not happening any more and the question is why have those gone away? >> he felt it was important that each day he receive the most up to date information as it relates to the economy. >> it sort of happens occasionally, doesn't happen all the time. martha: how about that. a new look at how the white house is handling the latest challenges on jobs and housing and what voters think about his performance. that's coming up. an 8-year-old student is told to write this letter to her north carolina congressman appealing for more school funding. turns out that the congressman is her dad. wait until you see his reaction to that. anthony weiner claims that his wife knew about his twitter escapades. does that make it owe aeu? new questions on this right after th break. ♪ wondering who is cheating who, who is being true, it makes you wonder who is doing right with someone torpbgts and whose car r is parked next door. ♪ like our hearty new england clam chowder. then enjoy a

u.s. economy is still not in full recovery mode. the u.s. is likely to add between 150000-200000 jobs a month to 2013 and the u.s. economy should grow at 3-4% per year. even that will not be enough to reverse economic damage or job losses caused by the recession. >>> the median home price fell 9% to an average of $3,702,000. the data company says it includes a loss of the federal tax credit and a high percentage of stressed home scales sales. alameda, contra costa, and solano counties in streams double-digit drops. >>> pandora shot out of the gates today. we will explain what the company has to offer investors, coming up in about five minutes. >>> the start of summer is just a few days away. in san jose five of six community pools are open. in downtown los gatos people cooled off in the mountain. they have been waiting impatiently for months. a big crowd visited waterworld california in concord to cool off. today's attendance was more than double what they see on a normal weekday. how long will this last? it meteorologist mark tamayo hazard

u.s. economy so what is behind this well are to christine for that want to try and figure it out. it was billed as an initiative to promote the leadership of the united states to develop economically communities around the world. and featured former secretary of state condi lisa writes partnering with chevron one of the largest oil companies in the world we can help countries to begin to build the infrastructure that can attract and properly use private investment and business development which and then produces jobs or it's people why the launch was short on details there were many references to the important role the u.s. had to play in improving welfare around the globe. what will welfare be not be something that pops into the minds of citizens around the globe when they hear the name conda lisa rice more commonly associated with supporting president george w. bush's invasions of afghanistan and iraq you don't lot or another afghanistan out there you don't want the northern border that's like a state. you don't want yemen to as it's doing right in the civil war and become the n

u.s. economy. >> jon: the u.s. economy? but that's where we live. [laughter] someone, quick, get me some yogurt. for more we're joined by aasif mandvi live in athens. assif, how did europe... [cheering and applause] first of all, how does this affect europe? first of all, how did europe not know that greece was in this type of financial trouble? >> well, jon, it's fascinating. ten years ago when greece realized that to cover even at that time their big deficit, they were going to need an influx of cash, they were very smart. they called an american investment bank. >> jon: let me guess -- goldman sachs. >> very good. goldman sachs came up with a way to hide the extent of greece's debt so european banks would continue lending to greece, and greek people could continue retiring a few years after puberty. [laughter] the device they used to do it was called "a currency swap." >> jon: oh, okay, so the european banks who bought these swaps thought they were getting something fiscally sound when they were, in the parlance of wall street... >> oh, jon, may

u.s. economy is in a big funk, and a funky economy can spell trouble for the stock market now and down the road. experts say some areas will suffer more than others. financials is the one sector that most experts agree investors should definitely avoid. market strategist nick colas says that's because financials are facing a host of headwinds. >> not just regulatory, but also the consumer and the housing market. none of those three things work in financials' favor, and at least two of those three things have to be at least neutral or positive for financials to actually work. so, in the current environment it's a pretty tough place to make money. >> reporter: already this year, financial stocks have stunk up a storm, down a hefty 6.8%. sector guru sam stovall agrees investors should underweight the financial sector, but he also says watch out for consumer discretionary stocks such as retail and restaurants. >> i think right now the momentum, the reasons for concern, the eroding fundamentals are certainly there for financials, as well as concern about the consumer discretionary should gasoli

u.s. economy. suzanne pratt explains. >> reporter: it might be hard to tell from the signs at this manhattan gas station, but crude oil prices have recently dropped a lot. july crude futures at the new york mercantile exchange are down nearly 20% in the last month. that's after hitting a high for the year of $114 a barrel in late april. why are prices falling? experts say because of concern in energy markets about u.s. oil demand. that's as recent data shows the american economy hit a soft patch. trader ray carbone says europe's escalating debt crisis is also raising questions about global oil demand. >> i think everyone is waiting to see what happens with the no confidence vote in greece, the selling of the package of austerity to the parliament, what's going to happen with the eurozone debt and contagion fears. >> reporter: lower oil prices couldn't come at a better time for the u.s. economy. not only has the nation's unemployment rate remained stubbornly high this spring, but escalating food and

u.s. economy this morning he missed reading the economic team leaves we'll bring you the details in just a bit. and get ready for sticker shock at the grocery store food prices are expected to soar over the next decade we're going to break down what's really fueling that search. that evening it's wednesday june twenty second four pm here in washington d.c. . and watching our t.v. . well it will be a mission accomplished speech for the president will address the country at eight pm this evening where he's expected to announce the start of his long promised wind down of the afghanistan war now by all accounts obama is caught between the pentagon brass and his political base the generals of course want to stick it out but his supporters and not to mention a growing number of republicans say that are you know he can't get out of the country fast enough as for how many troops will come home and over what period of time we can only speculate now reports say anywhere from ten thousand soldiers to as many as thirty thousand or so which keep in mind that if ghana stand is america's longest war when

u.s. economy? >> keep adding up a whole bunch of special factors that you hope will go away over the three to six months. but, it's clearly at best what you might call a soft patch with an already slowing economy. >> tom: while the economy may be crawling along, apple eyes the virtual skies. c.e.o. steve jobs comes back to announce its cloud computing service, taking on amazon.com and google. you're watching "nightly business report" for monday, june 6. 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. 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

u.s. economy and this week's federal reserve meeting. >> i think what the federal reserve can do, in its statement, and especially at the press conference, it could reassure people that in fact the economy is not going into a double dip. >> tom: it is the last meeting before the fed finishes its $600 billion bond-buying program. what stock and bond buyers want to hear. it's "nightly business report" for monday, june 20. 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 f

u.s. economy gave fresh signs that the recovery may be losing steam.ssachusetts governor mitt romney formally entered the 2012 presidential race as the nominal frontrunner. the death count reached 18 in the e. coli outbreak across europe. the world health organization said the culprit is a new, "super-toxic" strain of e. coli bacteria. and the government of china denied any role in hacking google email accounts. but secretary of state clinton said the fbi will investigate. and to kwame holman for what's on the newshour online. kwame. >> holman: there's more on mitt romney's official launch into the 2012 presidential field on our "politics" page. while you're there, sign up for the "morning line" email, a daily dispatch from david chalian and the politics beat. and the government scrapped its food pyramid today, and instead unveiled a nutrition campaign called "myplate." our health unit has the details. plus as part of nasa's 50th anniversary celebration, a new exhibit at the smithsonian air and space museum looks at artwork inspired by space flight. vi

u.s. economy will eventually be worth bring up or deny artsy new york. to look at the ramifications of spiraling out of points in the u.s. let's cross to r.t.c. business desk now how do you create an hour for struggling americans this must feel like they're being kicked while they're already down well yes mary despite some recent signs of economic recovery that we're seeing sixty three percent of americans still feel not good or even bad about the state of the u.s. economy and that's a significant increase from like may two thousand and ten when only forty nine percent of americans felt this way rising fuel prices a shaky job market leading many of us worried about their future now as some analysts say the federal government must stop spending and grow the economy by five percent instead of two percent the latest monthly labor market data has shown that hiring in the u.s. slowed dramatically and i repeat that the majority of americans believe it will be about three years before their previous session lifestyles including recession spending returns. ok cor

u.s. economy is, in fact perhaps faltering. there will be critical economic data there. many attributed recent data in the u.s. to the march 11th disaster, because that did supply, disrupt the global supply chain so they have been looking into the finer points of those economic data. later today japan's going to get revised industrial production index for april, and also we're going to be looking at the corporate sector for further guidance. honda is coming out with the forecast for this fiscal year, for its profit outlook, that follows toyota's forecasts which came out on friday when they said they're expecting a 35% drop in operating profit. a fair bit of economic news as well as corporate news to guide investors for the rest of the week. back to you, ai. >> thanks a lot, ramin. that was market reporter ramin mellegard at the tokyo stock exchange. >>> and that's going to do it for now in business news. back to catherine. >> thanks very much, ai. >>> north korean leader kim jong-il has introduced his son to a senior chinese party official visiting pyongyang. kim appears