willing to make retrenchments in programs like medicare. democrats, when you get right down to it, really aren t. and if you can t do that, you can t get into the big ones and make some serious cuts in the growth, you can t succeed on a deal like this, in doing anything big enough to matter. and we head into another election cycle. i don t know if it s going to happen, it s not going to happen as a result of these negotiations. all right, brit, thanks. house budget committee chairman paul ryan says he will stay put and not run to the senate from wisconsin and that will likely open the door from former governor tommy thompson to make a bid for the seat and sources close to thompson say he s decided to run and incumbent democrat herb cole announced this past week he will not seek reelection next year. stocks were mixed dow lost 59 and s&p 500 lost 1/2 a point and nasdaq a point. and u.s. goods in april stopped a nine month run of greater output and manufacturing production fell 4/1
4/10 of a percentage point last month and construction of new homes fell 10.6% in april and building permits were also down 4%. those numbers paint a picture of a recovery that may be stuck in neutral. correspondent, doug mcelway looks at problems in the job market. what it sees as a key sign of economic growth. over the last 14 months, just in a little bit over a year, we ve added more than 2 million jobs in the private sector. but job seekers are still packing employment centers like this one in arlington, virginia. your application, please. this closer d.c. suburb home to many workers have been sheltered from many of the unemployment ravaging the country and even here, 1500 job seekers a month since the recession began. a truer sobering picture of job numbers is found not in the president s speeches, but
now in asia, stock markets were down across the region. japanese markets, though, took a beating today. the nikkei tumbling in the early trade and continued to slide throughout the day. it closed down more than 6%. you have to go back to the collapse of lehman s in 2008 to see losses like this in japan. as you see there, the nikkei was 6.18%. in seoul, the kospi pardon, it was up by about 0.8 of 1%. construction companies in seoul getting a lift there. that s based on the fact that there will be a lot of reconstruction needed in japan. australia down by about 4/10 and new zealand down by 2/3. in japan, the bank of japan pumping a record 15 trillion yen into the financial system in a move to build confidence in the markets. that s about $180 or so billion. and the central bank says it will addth in $3 trillion to the
consuming more oil, more gasoline. the tension in the middle east kree krooe eights this instability in the market and at the same time insatiable demand. it will move down in a meaningful fashion. we may never get down below $3 a gallon again. we knocked a dollar off of it. we ve been climbing back ever since. the question is, are we going to go back to all-time highs, 4.10 a gallon. that s really a possibility right now. and if you look at what s happen to think west coast where they ve got these new not new but the fuel laws which specify how clean their fuel must be. that helps to make california among the most expensive gasoline in the country. they re already, you know, anecdotally, already above $4 in many city ace croies across tha. we may be headed to $4.10. in a view of some, $4.50 and higher in the n. summer, which is always the peak driving
which earlier, had welcomed the bank s ceo s return. the stock is trading high her hong kong today. it is now up by just about a quarter of 1%. the bank also currently trying to lift list its stock in shanghai for trading. around the rest of the region, a quick look. mostly lower despite strong showing on wall street. tokyo, the standout today, up by 1.1%. led by japanese exporters in chip related stocks. metal companies and global metal prices and concerns about o interest rises and sydney has the news that the consumer price index was lower than expected in the fourth quarter. it was up by about 4/10 of 1% compared with forecasts of 7/10 of 1%. and now they say don t expect any more interest rate rises in australia this year. japan has also announced some upbeat economic news. the central bank has revised its complex growth forecast to 3.3%