action. those words from federal reserve chairman ben bernanke in a letter to a top lawmaker on capitol hill pushed stocks higher today. bernanke s comment came in response to questions from california republican darrell issa, chairman of the house oversight committee. bernanke added that the benefits need to be balanced against their potential costs and risks. the possility of more stimulus fr the central bangave investors hope and stocks spiked after that august 22 letter was made public this afternoon. the dow rose 100 points. the nasdaq added 16 and the s&p gained nine points. but in spite of those gains, all three of the major indices were down slightly on the week, their first negative week in a month- and-a-half. robert brusca doesn t believe bernanke will unveil any new policy moves when he speaks at a federal reserve conference in jackson hole wyoming next friday. he s chief economist of fact and opinion economics. bob, nice to see you. you know, people are really e
thank you, andrew. yesterday you gave me a little hard time for knowing about 13 ds and it was on the calendar. the 13 f. 13 fs, yes. on my outlook clrpd. now i think you re about to talk about some of those. that s right. george soros buying facebook f i m correct. i doenl know. i don t know. there s four lines i see in the teleprompter. what comes after that is anybody s guess. nobody knows. i read all the scripts before the show to read them really professionally. a fluttered scheduled regul regulatory, and berkshire sold stake in intel in the second quarter and disclosed new holdings in phillips 66 and national oil well. berkshire raised stakes in vie acome, ibm and wells fargo and reduced positions in j&j, proctor and gamble, kraft, u.p.s. and ge. a lot of people getting out of kraft, by the way. they ll rule the day, he sold ge. gold getting its groove back with two big name investors. john paulson and george soros bought more of etf or gld in
got physically ill. moody s has cut barclays from negative to stable. the ratings agency cited an uncertain management outlook as the reason for the decision. just moments ago, s&p did the same thing. more from this story in just a moment. steve? the focus will then turn to the u.s. jobs market, the adp employment report for june will be released at 8:15 eastern time, followed up by jobless claims data 15 minutes later at 8:30. all of this is the pregame for tomorrow s employment report. retailers are reporting june same-store sales today. analysts expect retailers could post their lowest monthly gains in three years. it s becoming more expensive meanwhile to rent an apartment. asking rents rose to $1,091 a month in the second quarter, 1% higher than the first quarter and biggest increase in nearly 2350i6 years. analyst says this affects the growing number of people who aren t able or willing to buy a new home and the lack of construction. walking in here i saw where th
this program is made possible by contributions to your pbs station from viewers like you. captioning sponsored by wpbt susie: good evening, everyone. a rough day on wall street, with all the major stock averages tumbling 3.5% or more. italy was the big worry today, tom. investors fear that italy s financial crisis is getting worse. tom: susie, it is costing the italian government more to borrow money up to a new record. the interest rate on italy s 10- year government bonds are now above 7%. that s the level that forced greece and portugal to seek bailouts. u.s. investors sold stocks on worries italy may not be able to pay its debts. the dow plunged almost 390 points, the nasdaq was down 105 and the s&p fell about 47. susie: you might be wondering, what s the connection between italy s financial problems and the u.s. economy? as erika miller reports, there could be a big impact on the economy here. reporter: italy is a relatively small country, about the size of ariz
this program is made possible by contributions to your pbs station from viewers like you. captioning sponsored by wpbt susie: good evening, everyone. a rough day on wall street, with all the major stock averages tumbling 3.5% or more. italy was the big worry today, tom. investors fear that italy s financial crisis is getting worse. tom: susie, it is costing the italian government more to borrow money up to a new record. the interest rate on italy s 10- year government bonds are now above 7%. that s the level that forced greece and portugal to seek bailouts. u.s. investors sold stocks on worries italy may not be able to pay its debts. the dow plunged almost 390 points, the nasdaq was down 105 and the s&p fell about 47. susie: you might be wondering, what s the connection between italy s financial problems and the u.s. economy? as erika miller reports, there could be a big impact on the economy here. reporter: italy is a relatively small country, about the size of ariz