The company disappointing investors for the Third Straight quarter. Missing on the bottom line while coming in line on revenue. Its shares currently unchchanged afterhours. More on thatin a few moments. Also a slate of mixed earnings and Economic Data sent stocks seesawing through the session. The d crossed between positive and negative territory 46 times before closing up just 26 points. Tough day. Shares of best buy tanked more than 10 . Warned upcoming Quarterly Earnings will be significantly below the same period last year. Best buy took investors by surprise by ousting two high level executives. A look at the stock getting crushed. Our top story tonight. Reports are that israel may have bombed a iranian weapons facility in sudan. no confirmation from the israelis. Some experts speculate this could be a dry run on attack in iran itself. Will Irans Nuclear program be stopped before they have the capacity to attack and are sanctions enough . Joining me fo more is fox news security an
Annual rate. That was up from secondquarter growth from 1. 3 . How are investors reacting to that . Stocks now and every 15 minutes. Nicole petallides at the new york stock exchange. Nicole good morning, everybody. When you look more closely into the number and then maybe people have been doing exactly that and that is why we have a negative number here on wall street for the dow jones industrials. This gain came from americans using their own income, buying products and services. That is not the case. The formula is comprised of several factors, one of which is pending by the federal government. It turns out they did more spending and that is why gdp got a pop. Back to you. Dagen thank you so much. Breaking news right now. The National Hurricane center releasing its latest advisory on Hurricane Sandy and the storms track. Sandy is still a category one storm with 80 Miles Per Hour sustained winds. It continues to head towards the east coast. We bring in the cheap mineralogist at whethe
Melissa first lets take a look at the days market headlines. Apple reporting fiscal Fourth Quarter earnings a short time ago. The company disappointing investors for the Third Straight quarter. Missing on the bottom line while coming in line on revenue. Its shares currently unchanged afterhours. More on that in a few moments. Also a slate of mixed earnings and Economic Data sent stocks seesawing through the session. The dow crossed between positive and negative territory 46 times before closing up just 26 points. Tough day. Shares of best buy tanked more than 10 . Warned upcoming Quarterly Earnings will be significantly below the same period last year. Best buy took investors by surprise by ousting two high level executives. A look at the stock getting crushed. Our top story tonight. Reports are that israel may have bombed a iranian weapons facility in sudan. no confirmation from the israelis. Some experts speculate this could be a dry run on attack in iran itself. Will Irans Nuclear p
It is buying to pump these markets up. Rumors that it has stoped buying treasurys altogether, now just mortgagebacked securities. News just hours later that jobless claims in this country were weighed down, which seemed to indicate things in this economy really are looking up. Good, right . To a point. Who needs training wheels if you can ride this recovery just fine without them . Is the fear that training wheels are gone or going. And wall street is selling. Because it is on its own. It is time for wall street to just suck it up and grow up. If you are basing our bilateral the fed is buying, you might want to think about retiring. I get the sentiment. The government should never have gone into the propping up market business to begin with, but nevertheless he did. Hinting that things are good enough now work could be to take some of l. A. Is rattling them. Shldnt they be celebrating claims coming down, economic numbers looking better . In advice here. Well, for sure government should
Really. Studies shows greater wealth gap have greater growth. We have Scott Winship and Christian Dorsey from the Economic Policy institute. Christian i let you begin because i know you dont like the entire wealth gap thing is. Tell us what the problem with the wealth gap is. The problem is when you look at country that is have a large percentage of their people being for and having a lot of growth to get basic human need taken care of of course you could see faster growth with high inequality but that is not the case in the United States. We have a very educated community and what we have is rising inequality despite the fact that americans work harder and are smarter. Well we have is a situation where the wealth that we accumulate is increasingly going to such a small percentage of people which leaves the rest of folks without hope, without the ability to actually improve their standard of living. Dennis so, scott, youve actually looked at this and looked a the a lot of studies and y