in four years. for the day, the dow lost 92, the s&p 500 fell 10, the nasdaq gave back 21. for the week the dow gained about .1%. the s&p 500 was up fifth and the nasdaq finned up about a half a point. the dow surged about 8.5 percentage points. the nasdaq finished ahead almost 9.5 for the month. consumer spending and income growth were lower in september than in the past several months. let s get more on this and what s happening with the economy. fox business network s trish ragen is with us from new york. yeah, you know you pointed to the consumer spending number. and wages really not going anywhere. and what it tells you, brett, is once again it reinforces this very weak economic situation we re in. now one of the reasons we saw consumer prices decline was actually because gas prices have been going down.
in four years. for the day, the dow lost 92, the s&p 500 fell 10, the nasdaq gave back 21. for the week the dow gained about .1%. the s&p 500 was up fifth and the nasdaq finned up about a half a point. the dow surged about 8.5 percentage points. the nasdaq finished ahead almost 9.5 for the month. consumer spending and income growth were lower in september than in the past several months. let s get more on this and what s happening with the economy. fox business network s trish ragen is with us from new york. yeah, you know you pointed to the consumer spending number. and wages really not going anywhere. and what it tells you, brett, is once again it reinforces this very weak economic situation we re in. now one of the reasons we saw consumer prices decline was actually because gas prices have been going down.
libyan rebels say if gadhafi s relatives are not returned, it will be aggression against the people. turkish president says his government lost its confidence in damascus. the two countries had a close political and economic relationship. he says syria s crackdown changed that. the remnants of hurricane irene are in canada where hundreds of thousands are without power. across the border in the u.s., irene s caused damaging floods across several states. 27 deaths are blamed on the storm. japan s parliament selected yoke schick ohno da as the new prime minister. know da will take up the post after being endorsed by the emperor. that s expected to happen wednesday much those are the headlines from cnn. the world news leader. world business today starts now. good morning. i m charles hodson from london. good afternoon from cnn hong kong, i m andrew stevens. welcome to world business today. the top stories this tuesday, the 30th of august. the new prime minister-elect of jap
up right now, and that s a good sign considering we re more than halfway through the trading day. you are seeing stocks rally on good economic news of the jobless claims numbers fell last week and we got strong corporate earnings from a bellwether company, cisco system, and you are seeing wall street focus on the positive today and we are seeing the bargain hunting going on as well, and you are seeing the bargain hunters getting in there and buying stocks up, randi. and the trader mthere with you, allen valdez. what about the first time they dropped below 4,000 for the first time in four weeks, and how much do you think that contributed to the rally we are seeing today? well, under 400,000 you know, that jobs number is probably the most important number for traders. it really is. we watch that number on a weekly basis. and this economy is powered by consumer spending, so if the consumer is not working he is not spending. anything under 400,000, they re not spending. l
but you won t get away. the video that has everyone talking on this american morning. good morning. it s wednesday, august 3rd. this is american morning. a lot going on today. we should get right to it. yes, we should. isn t the debt deal done? it s not done yet. they have to do the super committee. and decide what they will cut, cut food inspectors, education grants, they are going to cut stuff out of education. at least some of it is done? some of it done. one of the bitter and dangerous debates this recent history is now history. the bill to raise the debt ceiling and cut spending is law. this is a picture of president obama, he signed the bill in private. nobody around him. notice that. he doesn t look very happy either, does he? he called the compromise a first step toward fixing the economy, though, and argued more must be done. this is, however, just the first step. this compromise requires that both parties work together on a larger plan to cut t