up 3. in brussels, europe s leader agreed to install a new supervisor over the eurozone next year. meanwhile, smoke-filled street in athens as riot police clash with protesters. back here at home, a weak earnings report from google came out midday instead of after the bell. google plunged, trades were halted for hours and markets never recovered. later microsoft said dwindling pc demand hurt its profit. bad news before its big windows 8 launch. more pc fallout from chipmaker amd now planning to lay off 15% of its staff. world trade organization handed the obama administration a small but significant victory, barring china from imposing duties on steel exports made at ohio-based ak steel. the average price of regular gas is down to $3.74 a gallon.
monetary stimulus in the absence of a manufacturing base is you have nothing to stimulate. the whole point of lower interest rates is to stimulate domestic investment, and all the investment our big companies are doing like boeing and caterpillar and gm is offshore. so what i m doing with the death by china tour in ohio and we had a great town hall event in youngstown with congressman ryan, is to try to explain that the best jobs program really is trade reform with china, cracking down on china s unfair trade practices and not more government stimulus. we got to get our manufacturing base back. i was in mansfield last night, and unbolting the machines, there was a steel mill area, ak steel. half of that mill was sent over, lock, stock and barrel to china, and that mill is now competing against american workers in places like mansfield. it s insanity. let s talk about china for a
poor s cutting credit ratings on major banks on tuesday. copper and oil rose tuesday. u.s. steel shot up 15%. ak steel 13, alpha natural resources. further boosting investor spirits? data showing clear signs of economic recovery. the private sector added the most jobs in nearly a year. midwest business acty grew faster than expected. october s contracts to buy home jumped to a high for the year. november was the best month for auto sales in more than two years. elsewhere, reports say private equity firms blackstone and bain capital have teamed up with a china company to bid for yahoo. and finally, the salvation army s red kettle has gone high tech. a holiday donation tradition since 1891, now you can host your own red kettle online raising donations from family
i m brian sullivan with your cnbc market wrap. accelerating towards the close. the dow fell 91 points led by 3m. nasdaq gave up two. beat earnings about the debt ceiling. what else? ford, 3m, u.p.s. moving down despite reporting solid earnings. investors clearly growing more concerned about the overall pace of recovery. could slow in the second half of the year. apparently food is hot. domino s pizza rising, boosted in part by successful international expansion. meantime, ak steel and u.s. steel missed expectations on bumping street prices as well as materials costs. there s inflation for you. one big winner of the day, radio shack. yes, radio shack. it soared after dumping a partnership with t-mobile and right now amazon.com share, hot after better than expected sales and profits were delivered after
i m brian sullivan with your cnbc market wrap. accelerating towards the close. the dow fell 91 points led by 3m. nasdaq gave up two. beat earnings about the debt ceiling. what else? ford, 3m, u.p.s. moving down despite reporting solid earnings. investors clearly growing more concerned about the overall pace of recovery. could slow in the second half of the year. apparently food is hot. domino s pizza rising, boosted in part by successful international expansion. meantime, ak steel and u.s. steel missed expectations on bumping street prices as well as materials costs. there s inflation for you. one big winner of the day, radio shack. yes, radio shack. it soared after dumping a partnership with t-mobile and right now amazon.com share, hot