vision in yellow. poppy harlow business rules. mixed earnings alcoa s earnings came out after the close. major markets finishing higher across the board. the dow, s&p 500, less than 2% below an all-time closing high, meantime news out of barnes & noble, the ceo is out, william lynch resigned yesterday after three years at the helm of the ailing book seller. the nook sales fell 34% the company lost $118 last quarter. credit cardholders you are becoming much more responsible about paying your bills on time, delinquencies on bank issued cards fell to 2.41% in the first quarter, that is the lowest level, folks, they ve seen since 1990. look at that, we ll take it. poppy thank you so much. finally straight to chad myers in the weather center with
created. back in the beginning of 2009, losing 800,000 jobs first few months. this started to look really good. these jobs here are from the census. that s why we saw this peak. then once the census hiring was done, we saw unemployment drop again. and this is the problem. jobs have been doing this while the market has been doing that. that s where the disconnect comes in. the reason the markets are doing better than the economy is doing is because of interest rates. they have been so low, that there aren t a lot of different ways to make money. so people put their money into the stock market, brooke. make money in a house possibly, but that s long-term money, you have to have a big down payment. no money in the bank. bond funds are suffering. so everybody is going to the stock market. we note dow is an average of two dozen plus companies, that s different from where we were at the last closing high, 5 1/2 years ago. for now, which companies have done the best? big gainers. if you i
in today s money minute, let s take a look at the markets right now. the dow and the s&p 500, ever closer now to the record highs with the dow jones up by 56. the s&p up by 7. and the nasdaq up by 20. but green arrows across the board, very strong closing out the week. it is an all-time high that was set back on october 19th of 2007, the s&p is about 63 points from the closing high that was also set back on october the 9th of 2007. something to watch there. meantime, this is treasury secretary tim geithner s last day on the job and the legacy debated. joining me is zach carabel. so debate it. explain why dwaebt it. debate it? people feel like whatever happened in 2009 in terms of the
facility in china where its iphones are assembled. google hit a closing high. different story at facebook which dropped 9% after a weekend report that said the stock remains too pricey. that s it from cnbc. we are first in business worldwide, and now back to hardball. welcome back to hardball. conservatives swoon for congressman paul ryan when he was chosen for the republican ticket, but he s since played the classic role of second fiddle. moderating his positions on both fiscal and cultural issues to conform to romney s views. well, now that romney/ryan campaign is coming off a bit of a couple rough weeks there. some conservatives have just got the answer. simply let ryan be ryan. that was the advice they dished to the new york times today. but is that really the smart move, really? joan walsh is editor-at-large of salon and author of what s the
hostages and freeing jessica buchanan and poul thisted. emergency officials are looking in a brazil collapsed building. they don t know why the adjacent high rises crumbled. one person heard a cracking sound before they fell. french police tell cnn they ve arrested the founder of the breast implant company. our affiliate france 2 tv said this man was arrested around the same time. p.i.p. became the focus of an international health scare over the implants. those are the top stories from cnn, the world s news leader. i m zain verjee and world business today starts now. hello, and a very warm welcome to world business today. we re in hong kong. i m nina dos santos at cnn london. i m john at the world economic forum in davos, switzerland. on the markets today they take the rough with the smooth as america s central bank holds steady on interest rates. this signals a long road towards recovery. in europe angelo merkel says there s only so much germany can do to s