Shopping for coverage. All that and more tonight for nightly Business Report for tuesday, october 1st. Good evening, everyone. It is day one of a partial federal Government Shutdown, and if youre like most people, you didnt see this one coming, stocks ended the day higher. Heres what a congressional stalemate and failure to reach a budget deal looks like in washington. Twofifths of all government offices have been shuttered, parks and monuments, medical Research Products put on hold. 800,000 federal workers furloughed, told to stay home without pay, and president obama warning republican lawmakers about how harmful past shutdowns have been and why Congress Needs to reopen the government, restart federal services, and get people back to work. We may not know the full impact of this republican shutdown for some time, it will depend on how long it lasts, but we do know a couple of things. We know that the last time republicans shut down the government in 1996, it hurt our economy. And unl
Strategy shift, merk, widely held stock is undergoing a massive makeover, shedding jobs, flashing costs as it looks for a way to compete with the generic manufacturers. And open for business. The Health Exchanges are up and running and the ceo of wellpoint, one of the systems biggest players, tells us what to expect as the insured begin shopping for coverage. All that and more tonight for nightly Business Report for tuesday, october 1st. Good evening, everyone. It is day one of a partial federal Government Shutdown, and if youre like most people, you didnt see this one coming, stocks ended the day higher. Heres what a congressional stalemate and failure to reach a budget deal looks like in washington. Twofifths of all government offices have been shuttered, parks and monuments, medical Research Products put on hold. 800,000 federal workers furloughed, told to stay home without pay, and president obama warning republican lawmakers about how harmful past shutdowns have been and why Congr
The Health Exchanges are up and running and the ceo of wellpoint, one of the systems biggest players, tells us what to expect as the insured begin shopping for coverage. All that and more tonight for nightly Business Report for tuesday, october 1st. Good evening, everyone. It is day one of a partial federal Government Shutdown, and if youre like most people, you didnt see this one coming, stocks ended the day higher. Heres what a congressional stalemate and failure to reach a budget deal looks like in washington. Twofifths of all government offices have been shuttered, parks and monuments, medical Research Products put on hold. 800,000 federal workers furloughed, told to stay home without pay, and president obama warning republican lawmakers about how harmful past shutdowns have been and why Congress Needs to reopen the government, restart federal services, and get people back to work. We may not know the full impact of this republican shutdown for some time, it will depend on how long
Heres another possible causality of the shutdown, the Justice Departments trial to stop the merger of American Airlines and us airways might be postponed. Right now its slated late november. Federal issuing asked to postpone the proceedings due to a cutoff in federal funding. Meanwhile, just today, the Texas Attorney general announced a split from the Justice Department saying that his office now supports that airline merger. Shares of us airways and americans american company, which trades on an alternate exchange, both closed higher today. A 27monthlong streak of sales gains for the u. S. Car business has ended. Ford sales did rise nearly 6 and chrysler had its best september in six years, but sales fell sharply at general motors, toyota, volkswagon. Gm said weak demand for its redesigned fullsized pickups was a big driver of its 11 sales drop last month. The annual sales rate dipped to 15. 3 Million Units last month, down from 16 million in august. Over in the commodity markets, gol
Ankamed up 92 ons these deve p developme developments. U. S. Education, failing grades for our schools. Globally we are now on the lower end of the curve. Below average in math and science. This is a competitive crisis for american business. Why are we not succeeding here . Whats being done to fix it . Two leading people on the American Education charge. First, though, to sue at the nyse. Thank you very much. A rough day for the Dow Jones Industrial average. We are off of our lows but still up 21 this year. Right now the Dow Jones Industrial average down 104 points. Transports have been on a huge tear, down today, but up 35 year to date. The s p also in the red today. Its up 25 this year. Its down just 7. 3 points today. Similar story at the nasdaq, up 27 year to date. Lets bring in bp and kenny polcari, director oneills security and cnbc market analyst. Weve been talking about the pivot point in the market, the turn in the market when it would come. Is this what were seeing today . I