market, gas prices are beginning toay? >> i think that in addition to affirming the u.s. housing market, gas prices are beginning toill ilk, is that the best way? >> i think that in addition to affirming the u.s. housing market, gas prices are beginning toilk, is that the best way? >> i think thatinddiotof1 maetgapresreegnicf1 o toiiatthesway? lkishathbe w? cf1 o i tt aitn market, gas prices are beginning >> i think that in addition to affirming the u.s. housing market, gas prices are beginning to go down. >> we're still not expecting much from this friday's number. >> traders are looking at prices down to the 30 handle. and they were saying they would have rather seen a gradual decline. so lower prices can't heard, but if the driving force is that the global economy is slowing to the point that truly it's not a dollar issue anymore, i can continue to say if central bankers can fix what ails us, i could push a string all the way to nebraska. >> again, it help wills to ease the pain of deleveraging and i think that's the central bank's problem. energy boomg goi going on in

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u.s. markets will be the june jobs report due out on friday. investors will get an update on the june auto sales which have been strong all year. >>> interest rate rigging scandal that rocked the global banking scandal last week has claimed the first victim. the chairman of barclays resigned today saying the buck stops with me after they suffered a blow. >>> and apple has agreed to play $60 million to a company that claimed it opened the rights to the name ipod. >>> and one leap was added to keep the atomic clock in sync with the earth's rotation. >>> the dodgers snap a seven-game skid and tiger woods makes history. plus, a heart breaking fall for one five-time olympic medalist. your early morning sports headlines are straight ahead. >>> the fourth of july forecast looks very warm across the country. i'll have the details coming up. you're watching "early today." >>> very good morning to you. if you're just waking up this is "early today." yesterday, major league baseball announced the rosters for the all-star. here's mario solis. >> good morni

u.s. markets were closed for independence day. and european markets ended lower ahead of thursday's policy meetings at the european central bank and the bank of england. let's get details of how stocks are trading this thursday morning here in japan. for that we're going to ramin mellegard at the tokyo stock exchange. good morning to you. pretty thin trading conditions with the u.s. on holiday on wednesday. how are stocks trading today? >> good morning to you. in the absence of the u.s. markets, most of the focus was on the european markets. and a lot of focus on energy-related stocks which we've been following here throughout the week and also in the banking sector also following the resignation of barclays bank ceo. let's see how the nikkei and topix are kicking off this thursday, july 5th. and both indexes trading a bit lower. the nikkei still above 9,000 at 9,094 and the topix at 777. the nikkei closed yesterday higher for two days in a row. one area focus today may be in autos. we're going to get data for a new car sales for t

markets in the u.s. taking good cheer out of the factories order data that came out. also positives from the u.s. european markets. let's see how all of that is trading in this wednesday july 4th. positive start here. and the topix 780 up half a percent. the nikkei did manage to close in the positive today. it may trade given the u.s. will be on holiday. however, we have been following the commodity markets of late and a bit of volatility there in the gold and oil markets. we have been focusing on that. we did see a surge higher in crude oil prices as well as a volatility in gold prices. just looking at wti crude oil prices there, it shot up on the new york america tile exchange around 4% on concerns about oil supply disruptions after complaints from iran about sanctions which are taking effect in july. and this was after wti dropped around 1% the day before. oil markets are seeing some volatility here in japan. that have had also some caution not with -- not only with the oil shipments but also some of the insurance contracts as well. that's been a focus there for sh

u.s. markets certainly represent an opportunity. but as you said, there are certain risks, not only in technology but the overall tape. sit going to hurt u.s. markets and continue to put pressure on them? i think it's a matter of which is the best of several bad options. i don't think anybody would argue that equities are a great place to be anywhere. >> it's already hurting here, is it not? you take a look at a chipotle, for example, is already seeing signs of the global slowdown. and certainly a pullback by consumers here in the united states already seems to be affecting a company like that and they're likely to be more to follow. >> certainly it's a matter of finding the right stocks with the right valuation multiples to invest in. when you look at where chipotle was before they reported, the bar of expectations was certainly too high relative to what they reported. it would be great to know that in advance. but you can look at -- it's going to be tougher to invest in stocks with higher multiples because of the growth parameter

u.s. markets will be the june jobs report due out friday.will also get an update on june auto sales, which have been consistently strong all year. >>> an interest rate rigging scandal that rocked the global banking industry last week claimed its first victim. the chairman of barclays resigned today, saying "the buck stops with me" after the bank's reputation suffered what he called a devastating blow. >>> elsewhere, apple has agreed to pay $60 million to a chinese company that (aprsq" it owned the rights to the name ipad. >>> and, if this weekend felt longer than normal, well, it was. one so-called leap second was added to the last minute of june 30th to keep the world's atomic clock in sync with the earth's rotation, and that change tripped up several websites, including readit, yelp, and linkedin. whoops! >>> the dodgers snap a seven-game skid and tiger woods makes history. plus, a heartbreaking fall for one five-time olympic medalist. your "first look" at sports is straight ahead. you're watching "first look" on msnbc. i love how clean my

u.s. markets. bonds reflective of that to a certain extent in the slower growth, lower for longer market environment but mortgages and surprised in the discussion people aren't separating the dynamic of what happened with the consumer and the private sector in c and i lending. with the -- >> commercial and industrial? >> yep. and lending in to commercial and industrial space turned and accelerating. private sector continues to lead and is responsibly strong. the unfair point of some of the quantifiers of mortgage lending is consumers are deleveraging. a large part is savings coming down. some consumption going up. i'm intereed to see the results of the price of food. going up. but the result is consumers focused on debt load. i asked the chief economist in the private bank as i came over this morning what that number really meant. he said the subtlety and why wall street isn't talking about the refi is what is alive and well domestically is the cash market. cash market for housing is keeping a very

markets. over on wall street, u.s. stock prices ended on aixmo. for details on how stocks are trading here in jan,e' intoo to ramin melonguard. markets back in full swing after independence day liy. how are tokyo stocks looking? >> let's go straight to the lelsctllth fday morning, and we can see exactly how we're kicking off here in tokyo following the u.s. and european markets, and bh des trang lower. 06foth nikkei can you remember, and 675 for the topix. a mechanics b ihe.s we did have the nasdaq trading actually unchanged onhe day, but it was helped by shares from apple and the dow andhe s&p 500 actually trading lower and that was weighed down by neti sentiment following some services data. i'll come tt isecond. slowing growth really is one of the keyoces across the globe, and that's really been proven by some of theenal ba mes that we've seen specifically china, of course of course cutting rates. the european central bank yesterday, thursday, cutting ras, as expected, and also the fos w is following the jobs numbers later today ith.s could the

u.s. markets actually started their trading session lower but they are now trading mixed all the details in just a second but first let's check out the european markets where a few hours ago the european central bank had cut the interest rates to store a glow the sentiment though turned sour after the e.c.b. chairman mario draw he. gave out a press conference where he said there is still a downside risk in the euro zone and he his comments really sent the markets lower we'll see those numbers in just a minute but first charles robertson from renee since capital in london said the e.c.b. move was a long overdue. it's not going to make much difference it's a psychological boost to for anything but the markets of pretty well priced in a twenty five basis point rate cut now. i would have thought they should have already last month and then forward up with another cut this month. and jay european equity markets are widening their losses in the last hour of trade the footsie is shedding more than a quarter percent as you can see there despite the fact that the bank of england pumped another fifty

manchester united f c is going public it's aiming to attract one hundred million dollars in the u.s. market so that's something to look into if you have your interested in for four of course over all the commodities markets oil is continuing to decline it's pretty much the only trading thing right now which is over because of the closing of the. u.s. markets for independence day we have still electronic trading going on here in the in the oil so it's a very also a very low volumes there but it's down on the hopes that on the first day when we have monetary policy meetings with the e.c.b. and the bank of england there will be some sign of further stimulus measures to support the markets so boiled right now is correct. also on commodities food prices may rise as a fifth of america's crops face damage from the drought wheat corn and soybean prices are already at four year highs although they're not trading today big grain exporter russia one of the top three is also seeing heavy rains which have pushed prices up further some experts fear countries will now bring back the export ban so we saw d

money market funds have stopped, most of the u.s. money market fund have ceased their floss into the european banks which impacts short term funding and on the government side it appears that the swiss seem to be allocating away from europe and it seems specifically away from the bunds more recently. the bis is talk about capital flows out of germany slowly. i think that ultimately there's going to be an increase realization in the markets that any solution will increase the cost to germany, the worst case solution is a full breakup but that could come as one of the peripheral members leaving. at the end of the day you have to remember that over 60% of all the euro area bank debt of the periphery that was held was held by german, french and belgium banks and ultimately those exposures still reside in the core. >> josh, your call is that you short the bund from here, german bunds but we're seeing these yields go to fresh record loss and the scenario you're laying out which is basically one of inflation is not the one here this morning,

since the losses were announced late in the spring so with that in mind it's have a look at the u.s. market markets because. well street is now rising in the house and speculation of to the worst growth figures in three years to the chinese economy revealed there's now the speculation. that policymakers in the world's second biggest economy will be forced to intervene to get things moving against investors already holding out for that one as you can see the dow jones one point two percent the nasdaq just over said imposed to territory on the european law great so also. the ultimate ism of from those figures believe on all their also how you paying for the action from the chinese government doesn't help we do use the momentum as well as that we have a timely and boring cause as well for laying out a debt oceans day helping to relieve the pressure ready for the debt ridden economy so with that in mind is have a look at the common currency and see how that's getting on just now still loitering around those two year lows they want twenty one seventy one us the ruble go into look at the last sor

u.s. and eu sanctions have already begun heavy inflation in the iranian market. chicken, for example, used to be at $2 a kilogram is now standing at 4. food prices have soared since the beginning of the year. the official inflation rate is 20% but people say the actual figure is probably higher. >> translator: there is no way we can make a living. >> reporter: the sanctions are even affecting people's health. the cost of medicine has risen more than 30% since the sanctions began. drugs to treat heart disease and high blood pressure are particularly hard to obtain due to restrictions on transactions with foreign firms. >> translator: this medicine cost about $6 last year. i had to pay twice as much today. >> translator: my mother used to take medication imported from overseas. but we can no longer afford it. it's just gotten too expensive. >> reporter: the sanctions against iran show no sign of ending any time soon. meanwhile, ordinary iranians trapped in what they see as a political conflict and a daily struggle to survive. nhk world, tehran. >>> americans are fa

u.s. markets.t of a very sharp selloff with the nasdaq feeling the brunt of the losses. down 2.28% at this point. microsoft down 1% and semiconductors being hit very, very hard. with the semiconductor index down by 2.6%. we are seeing weakness in materials and in energy as well as the financials. keep in mind, too, that europe, they installed a short selling ban in spain for one month and italy for one week so you've got to wonder about the impacts of finding a proxy for shorting european stocks here in the european markets and markets outside of spain as well as italy. for more on this market selloff let's bring in dan greenhouse, cnbc contributor and a strategist at btib. dan, thanks for joining us. >> thank you. >> we have a mess at this point. is there any way for the u.s. markets in europe to see through this? >> well, sure. i mean, if earnings were coming in fantastic, then i think there would be an underpinning to -- to certainly equity valuations but not sentiment and what we've seen thus f

u.s. markets will are closed for the fourth of july market.he dow closed at 12,943 after adding 72 points. the s&p was up 8. the nasdaq gained 24. taking a look at overseas trading this morning, in tokyo the nikkei nudged up 37 points but in hong kong, the hang seng lost 25. stocks closed near highs yesterday. a near expected rise in factory orders cheered investors who were kiss were disappointed by monday's report. the price of crude rose to its highest level since may after iran renewed threats in response to a european embargo. oil shot up nearly 5% to settle just under $88 a barrel. apple touched $600 a share after they rejected samsung's request to lift the sale of its galaxy tablet. >>> barclays chief officer became the third as part of an interest rate scandal which already claimed its ceo and chairman. >>> england's manchester united soccer club signed paperwork. better than expected monthly auto sales drove ford and general motors higher. toyota also got a boost from its improving sales. >>> and finally speaking of cars, check out th

results will likely to be the main driving force on the equity markets overall and analysts hope that i'll be trying to actual results in the u.s. will help lift the russian markets higher this week is seeing friday's closing takers and it was a pretty good day more than two percent for the r.t.s. as you can see not bad at all considering that we have some disappointing data coming out of china and the states will see what happens when the russian markets reopen in less than two hours now on to the currencies and as you can see at the moment the euro trading pretty much want to walk to negative to the u.s. dollar and on friday the russian ruble closed that mixed will bring you all the latest the soonest of russian markets reopen and crude is off its highs over more than a week on monday mainly on concerns that china's growth has not gained in the momentum that. many hoped it would at the moment the w. ties trading below eighty seven dollars a barrel that's always just from the business desk i'll be back in about fifteen minutes meanwhile you can always find a lot more stories that are t dot com slash business thank you very muc

u.s. markets to open on a pretty flat fooding today and the european markets as well. pushing up by 15 or 16 points. the dax up by 0.6%. the cac almost entirely flat while the ibex and spanish market down by 0.6%. how do you make money in these markets then? here's what some of the experts have been telling us this morning. >> then it's in highly volatile energy prices. from an investment point of view, gold, oil, copper, all these things look interesting, because they declined a lot. >> in the short term the only one we really like is gold. we would do buys of gold at the moment. copper, energy after the recent short covering rallies since friday, this for us is an area you'd be looking to get shorts back on. >> very strong balance sheet, i'm sure you can find equities in consumer, retail, luxury which would even expand further in asia. >> those are the trades of the day. in corporate news, moody's changed barclays rating from negative to stable. this is just one day after the former barclays boss bob diamond apologized to british lawmakers during more than three hour

u.s. cotton is sold to china. china is also an important market for u.s. automobiles and aircraft. china also is in long-term market for u.s. service industry. in this area, the u.s. has done a long time service. at the same time, the chinese want to prepare -- entrepreneurs are interested in making investments in the united states so there are more and more chinese companies coming to the united states and investments. according to chinese statistics, for the last 18 months, the chinese investment in the united states grew by 18-40% -- by 14%. it is up to $6 billion. the investment is still a small figure. it is growing very fast. today, our common interests have expanded and interdependence has been deepened. now, as the impact of the financial crisis still lingers, both china and the united states have committed to transforming their economic growth. their economic growth models by increasing input in some new areas like new energy, high- tech, high end manufacturing, i.t., bioscience, etc. these could translate into new corporation -- cooperation opportunities. the u.s. as you k

should sign off membership meaning russia joins in a month though give easy access to russian markets but u.s. firms remain bloke by washington's jackson funding amendment nine hundred seventy s. law still being free trade with russia. and u.s. business have always told law and politicians to stop looking it's repealed now let's check markets because china says imports all surprisingly weak sending asia down as you can see this lot lower this and u.s. markets lost ground for a third session on monday off the spanish bond yields jumped above seven percent again reigniting the eurozone. the euro is flat against the greenback as a result the russian ruble weakened against both major currencies on monday we'll give you more on the ruble when the us markets open in a couple of hours crude prices there falling back off the top producer in norway called off a three week strike and the russian indices ended mixed on monday with the all tiers down point four percent must exist in the black and the ongoing eurozone debt problems have created good buying opportunities in the e.u. we spoke to russian rai

u.s. markets but we also have some key data hereo deal with, don't we?> definitely strong lead from the u.s., but of course, we did have some key consumer price index numbers and that came out before the markets, and that actually showed a fall of 0.2%, recording the two consecutive months of declines for cpi, consumer price index. let's see how all of that is translating into the markets. it's a positive start, the nikkei is up over 100 points to 8,543 and the topix at 722. again, also up 1%, just over 1%. now, in addition to mario dra i draghi's comments, we had better than expected jobless claims data out of the u.s. and that also helped to boost sentiment. earnings out of the u.s., facebook came out with its first earnings reports. however, the markets were a little bit disappointed, it traded lower in afterhours, trading down around 9%. starbucks also came out and said that it's going to be closing down some stores in europe and afterhours shares were down around 12% as well. now, here in tokyo, of course, the focus will be on earnings reports thate

this might be enough to encourage the u.s. market to snap a losing streak. the dow has been down for six straight sessions. also there is a sense the numbers are not weak enough to derail the growth story. what's interesting today is the bank reporting season. wells fargo and jpmorgan are reporting to the market but another day and another fine for the banks. this time for wells fargo, they've agreed to pay $175 million to set al race discrimination probe. also in terms of jpmorgan, we'll see the extent of the losses that london whale that placed huge bets on markets. the losses were up to $2 billion initially. they could be up to $9 billion today. we'll get a sense of that later on. >> karen, thanks. still ahead, a scathing report blames joe paterno and other officials at penn state university covering up jerry sandusky's behavior. that story and more when we come back. ♪ every time you close your eyes ♪ >> i accept the nomination of the democratic party. [ cheers ] >> i can rely in the coming months on many others, on a distinguished running mate who bring

if that's a flawed thinking what does that mean for the u.s. market? >> the u.s. continue to be a flight to quality. you'll see the ten and 30 year yields here at the cme continue to fall. i believe the stock market does have legs but we won't get to that fourth quarter. remember last year, july, august, how volatility, you know, we got above 30 there for a while. you'll see that carry it over. the s&p could get below 1300 in a matter 2005 weeks. >> we'll leave it there. director of portfolio management at altimus capital this morning. >> stay tuned to cnbc. in just an hour's time "squawk box" will bring you and interview of jim mcnerncnerney. >> thanks for watching. >> bye. >>> good morning. today's top stories earnings season officially opens for play today. check out that piece in the "wall street journal". investors fear it's going to be a tough one, 42 companies that you probably know the names of have already warned of lower than expected results. euro finance leaders are meeting in brussels. their job put last month's plan to save the single currency bloc in

u.s. markets will open on thursday. autotoy makers are releasing their june sales numbers today. report sales of 16% highest level since 2008. volkswagen sales just 35%. forced sales winds up 7% increase in suv sales and japanese auto makers experience experienced a lowest jump in sales which wasn't surprising since toyota and honda had little inventory. honda is expected to report a 51% jump with toyota sales up 60%. >>> we have an update to developing news from napa county. the chp has rescued a hiker. the hiker had been in stevenson state park since last night. he was in an area with tall trees, not able to leave on his own. the chp says the man injuries are not life threatening. >>> 75 years ago yesterday amelia air heart and navigator disappeared someone over the pacific. the latest search for her plane is getting underway today. international search team and 15 tons of equipment will head for tiny island where they believe she spent her final days after the plane was washed into the pacific ocean. the group is spending more than $2 million with hopes to confirm that theory

u.s. stocks furs international developed or emerging market stocks. within the u.s. looking at very large cap global u.s. companies that have far and wide-reaching businesses, very strong business and strong cash flows. >> do dividends matter? >> dividends have provided a real burden for investor this is year. when the market is risk-on, for instance in the first quarter of this year, dividend-paying stocks actually underperformed as investors searched for a little bit more beta in their portfolio. that being said, though, second quarter, as we've seen a little bit of a rollover in economic activity, investors have once again flocked towards those tried and true dividend plays. >> another place you're overweight is high yield. explain it. >> especially with the zero interest rate environment, one of our emerging theme, especially given what happened in july with this coordinated global central bank easing policy is that we're going to be in this environment a very low zero rates for foreseibel future. given that, investors are really paid a pretty attractive risk adj

we supply the u.s. market and every shopping center in the off-season citrus and other fruit. we do that, but we do very sophisticated stuff, such as, for example, we're the only country that has destroyed our own nuclear weapons. we put it to peaceful use. it now comes as nuclear isotopes that treat cancers in the united states of america. so those are the variety of exports and many more. >> did buried someplace that the united states still owes a trip -- did i read someplace that the united states still as a trip over there to pick up some nuclear waste? >> we have told them, that unlike the united states, we have destroyed our nuclear weapons and you can trust us to take care of the nuclear waste. >> so we do not have to pick it up? >> no. we use them as medical isotopes. >> a hero who came from very humble beginnings, a guerrilla fighter himself, also very controversial, what are his challenges? what are the challenges of south africa? >> i think we would love to have the united states unemployment rate of under 9%. ours is probably closer to 50%. we would love to have ou

market's mind? seems europe is trumping the u.s.e maybe individ l individuals perform well if they're good numbers. overall, the focus remains on europe and the broader economy. it's continued u.s. markets and the path of least resistance is lower. >> a lot of earnings we've seen, even if they beat, they beat on lowered earnings expectations. >> that's right. you don't want to get caught up in that. they tried to make it sound like they beat the number. much lower numbers. if you can't get over this hurdle we have a big problem. the u.s. ma-- ups and the econo, they have slowing growth and look what it does, brings back to reality what's happening. >> does the momentum continue into the close? >> i think it does. i think we will get weaker into the close. no panicky fall out of bed but i don't see any reason why it would get stronger at all. >> thank you. >> the energy certificate is down 2 -- the energy sector is down 2%. and this company relies on fracking and nationwide mutual said they will not cover fracking with insurance beca

u.s. markets. vw was able to increase sales by more than 30%. >> i have a closer look at those market numbers for you now. the dax was higher on tuesday. holding onto its gains from the past recessions, investors are speculating that the ecb could cut interest rates at its policy meeting on thursday. you can see the dax up there by about 1.25%. that optimism carried over to new york. let's bring in the dow jones industrial average for you. it is currently higher by about 0.5%. as for the european dance the dollar, 24 $1.2608. >> a court in brazil has of held a major compensation claim against the german chemicals giant and oil giant shell. it has ordered the two companies to pay for -- pay more than 280 million euros. hundreds of people have suffered problems after working there. the site was contaminated before they bought it according to the company and it is pushing for shell to accept full responsibility and is likely to appeal the ruling. >> the new head of the world bank has signaled that the

u.s. markets will are closed for the fourth of july market, but here's how they ended yesterday.he dow closed at 12,943 after adding 72 points. the s&p was up 8. the nasdaq gained 24. >>> taking a look at overseas trading this morning, in tokyo the nikkei nudged up 37 points, but in hong kong, the hang seng lost 25. >>> well, stocks closed near session highs tuesday on a holiday shortened trading session. a better than expected rise in factory orders cheered investors who were disappointed by monday's weak manufacturing report. caterpillar, alcoa, and boeing all got a boost from the encouraging news. >>> the price of crude rose to its highest level since may after iran renewed threats to block a key shipping route in the persian gulf in response to a european embargo. oil shot up nearly 5% to settle just under $88 a barrel. >>> apple shares briefly touched $600 a share after a u.s. judge rejected samsung's request to lift a ban on sales of its galaxy tablet. >>> barclays chief operating officer became the bank's third casualty in the wake of an interest rate-rigging scandal, whic

u.s. markets. stocks are lower today after a string of solid advances. as you can see, down 112 at this hour. also prices at the pump are seeking up again. according to gas but the .com, the national average for a gallon of regular is now $3.40 per gallon, up 4¢ in the past week. as for the local metro area, prices in san jose 3075 and 385 in san fransisco and $3.68 in oakland. this was a reunion seven months in the making. >> a judge lifted a protective order that kept san fransisco suspended sherrif people from his wife, it was put in place after a domestic incident that has left him fighting to keep his job. the sherrif calls the experience profound, ross mirkarimi told the judge about making a better man and a better public servant. >> how do you feel? >> we are extremely happy. and, the best thing is not me or ross. the best of this is that theo is going to have his parents back together. that is the best thing. >> it is a victory. we're partners without able to be partners. if this is a victory. >> the reunion will be short- lived, lopez is flying

u.s. markets.ll of the european indices -- somebody mentioned spain and there's a lot of value in spain. i think there is but i don't see a reason to jump into that because you have the uncertainty. >> what are you shorting? what's on the negative side? >> on the negative side -- we're short on industrials because the balance sheets, the valuation of the companies is too lofty. on the tech side a company like apple with the cash they have and trading at less than ten times earns is hard to short that name. >> mike, hope you enjoy the olympics. >> thank you very much. >> that's it for today's program. "squawk box" is coming up next. >> i'm off to the olympics. we'll see you tomorrow. >> who isn't? [ male announcer ] it's a golden opportunity... to experience the ultimate expression of power -- control. ♪ during the golden opportunity sales event, get great values on some of our newest models. this is thesuit of perfection. >>> good monday morning. today's top stories central banks on center stage. t

superjet it's up to two hundred planes your business someone and they say that if they get to the u.s. market all right looking forward to that cady thanks for that update and on the way for you here on our to russia's relations with its biggest neighbor china that's after the headlines and this break. you know how sometimes you see a story and it seems so you think you understand it and then you glimpse something else you hear or see some other part of it and realized everything you thought you knew you don't know i'm tom harpur welcome to the big picture. there hasn't been. on t.v. . it is to get the maximum political impact. before source material is what helps keep journalism honest we. we want to present. something else. wealthy british style science and that's what i do with my. markets why not. canada why not what's really happening to the global economy with max conjure for a no holds barred look at the global financial headlines tune into kaiser report on r g. one needs of spear time to obtain inner peace and spirituality. craftsmanship and creativity requires special conditions. are

u.s. lawmakers are voting without reading the fine print will take a look at one man's quest to make a reading bill law the first your closing market numbers. the world with. science technology innovation all the latest developments around russia we've got the future covered. welcome back let's switch gears u.s. regulators have approved a definition of swaps this was required by dodd frank and it will reportedly or should in theory at least bring scrutiny and transparency to this six hundred forty eight trillion dollar derivatives market now this is a huge opaque over the counter market that has basically been allowed to go unchecked for decades we talk about it a lot but how did it go unchecked for so long well that was thanks in part to financial deregulation of that market that came from another bill so let's back up let's get into the basics of lawmaking how does something become a bill in the first place well here is one way it's been talked to schoolchildren take a look. some folks back home he said they want to know what they call their local congressman and he said you'll write down to below and he sent me i don't introduce

u.s. markets ended lower again on concerns about eurozone debt yields as well as some hesitation ahead of key earnings reports out ahead in the united states starting this week. dow jones industrial average falling one-third% on hn.33% on the day. let's see how stocks are trading on this tuesday morning here in japan. what can you tell us from the tokyo stock exchange? >> we do have the backdrop of eurozone debt issues with bond yields in italy and spain spiking higher. also we're going to have some key trade data out of china ahead of the all-important gdp numbers on friday. and of course weave the all-important earnings season kicking off in the united states. a lot for investors to take in. let's see how all of that is kicking off here. both indexes trading higher. we're just march alginally lower for the nikkei. it ended lower yesterday for three days in a row. not helped by economic indicators in japan, china or the u.s. highlighting global concerns about growth in the major economies of the world. in the eurozone as we've been following, the key finance minister meeting is on the ag

and even weighting the u.s. market. so we do recognize that there is a lot of risk out there in some parts of the globe. but overall we do think we're still in a global recovery. >> tom: we showed the eem exchange rated fund for emerging markets as illustrative for that sector. what makes you go afr the risk there. certainly there can be some rewards but there can be some outside risks overseas? opinions sure. i mean obviously there's a lot of uncertainty there too. it's not just where we have the election, we have a lot of political uncertainty and inn other countries. and with the slowdown in the global economy, we still have to be concerned at what the policymakers may do overseas. but we do think that a lot of those concerns are baked into the market right now. we have had a big pullback in some of these international markets over the past quarter. and we think it's a good time to get in there and get some value. >> tom: let's lk about fixed income here because the bond market has seen a crush of investors looking f

in 2011, gm, chrysler and ford increased their u.s. market share for the second year in a row. exports of motor vehicles in 2011 increased by 21% over 2010. this increase in market share and exports has translated into more american jobs. since 2009, the auto industry has added over 233,000 jobs, the fastest pace of job growth in the auto industry since 1977. 1997. in addition, since 2009, gm and chrysler have announced investments totally over $11.5 billion. in a better world, the choice to intervene in gm and chrysler would not have had to be made. but amidst the worst economic crisis in a generation, the administration's decisions avoided devastating liquidations and provided the american auto industry a new lease on life and a real chance to succeed. i am prepared to do my best to answer your questions. >> mr. feldman, you're recognized for five minutes. >> thank you. mr. chairman and members of the committee, i understand that i have been requested to appear today before you to discuss my role with the treasury department's auto team which i joined in 2009, march of 2009, a