We need you back, so be well. Thank you, charles. We begin with breaking news. Some of the worlds top bank stocks are losing chunks of their market cap as we kick off the final hour of trade, and that is dragging down the broader market. Dow jones industrials and, by the way, everything is off the lows of the session, but still the dow is down about 184 points. We had been down about 465. We are looking at whats going on here regarding the selloff. Its erasing much of the ground the bulls had gained during this hour yesterday. If you look at the Dow Jones Industrials 2day chart, the blue chips at the moment are kind of coming back but still certainly not what happened yesterday, blasting skyward by 407 points monday afternoon. Yeah, not there yet to find that number back. The s p right now down 24 points. That loss at the moment basically yesterdays 40point gain, cant get it all back. The nasdaqs 85point sizzler just 24 hours ago has pretty much been doused, down 128 points for the nas
Consumers arent spending as much as expected. Retail sales for june fell a seasonally adjusted 0. 3 , well below expectations of a rise. Because it makes up a good chunk of Economic Activity if that piece of the economic puzzle is missing, some say it throws into question the potential rate hike by the federal reserve. And the batch of bad news comes just one day before fed chair janet yellen is set to appear before congress. Courtney reagan reports. According to the latest government data, consumers arent spending enough to prop up Economic Growth. June retail sales posted the weakest reading in four months. And thats not all the bad news. May retail sales were revised lower than previously reported. With Consumer Spending fuelling 70 of the countrys Economic Growth Monthly Retail sales are a key data point for those trying to forecast the federal reserves decisions on Interest Rates. And fed chair janet yellen addresses congress in the twoday testimony beginning tomorrow. Just look a
Consumers arent spending as much as expected. Retail sales for june fell a seasonally adjusted 0. 3 , well below expectations of a rise. Because it makes up a good chunk of Economic Activity if that piece of the economic puzzle is missing, some say it throws into question the potential rate hike by the federal reserve. And the batch of bad news comes just one day before fed chair janet yellen is set to appear before congress. Courtney reagan reports. According to the latest government data, consumers arent spending enough to prop up Economic Growth. June retail sales posted the weakest reading in four months. And thats not all the bad news. May retail sales were revised lower than previously reported. With Consumer Spending fuelling 70 of the countrys Economic Growth Monthly Retail sales are a key data point for those trying to forecast the federal reserves decisions on Interest Rates. And fed chair janet yellen addresses congress in the twoday testimony beginning tomorrow. Just look a
Wave of consolidation in the Health Insurance industry. At t is on the verge of winning Regulatory Approval for its 49 billion takeover bid of direct tv. Bloomberg north the bloomberg report said many commissioners have voted to favor the deal. The Justice Department will not challenge the deal because it does not pose a risk to competition. Stephanie president obama will land in the country where his father was born, kenya. He left washington d. C. Last night. He is on his way to nairobi and will attend a Global Entrepreneurship conference, and meet with kenyas president. He will become the first u. S. President to visit ethiopia on sunday. A gunman opened fire in lafayette, louisiana in a Movie Theater. He killed two people and wounded nine others before killing himself. The shooter tried to escape but turned back when he saw police enter the theater. Governor bobby jindal spoke at a news conference. When these kinds of acts of violence happen in a Movie Theater, when there is no rea
Attack on the United States embassy in iman, jordan. Ill ask the countrys foreign minister for details. Hes standing by live. Im wolf blitzer. Youre in the situation room. We begin this afternoon with brandnew republican offers to try to save the 2. 2 trillion and avoid the socalled fiscal cliff. The acrosstheboard spending cuts and sharp tax increases that hit in just 29 days. Lets get straight to our senior Congressional Correspondent dana bash. Shes watching whats going on. Dana, the tax rates, first of all, lets get to a major Sticking Point right now. Theres been a counterproposal from House Republicans to the white house. You have details. Reporter thats right. Lets start exactly where you just began on those tax rates because that has become the big divide between the two sides. The answer is the House Republicans are not budging. They still want to continue the bush era tax rates at all income levels. Lets get specific. First of all, the counterproposal, they say they would get