bernanke s comment came in response to questions from california republican darrell issa, chairman of the house oversight committee. bernanke added that the benefits need to be balanced against their potential costs and risks. the possibility of more stimulus from the central bank gave investors hope and stocks spiked after that august 22 letter was made public this afternoon. the dow rose 100 points. the nasdaq added 16 and the s&p gained nine points. but in spite of those gains, all three of the major indices were down slightly on the week, their first negative week in a month- and-a-half. robert brusca doesn t believe bernanke will unveil any new policy moves when he speaks at a federal reserve conference in jackson hole wyoming next friday. he s chief economist of fact and opinion economics. bob, nice to see you. you know, people are really expecting something important from bernanke next friday, and in fact, the title of his speech, i understand, is, monetary policy sin
action. those words from federal reserve chairman ben bernanke in a letter to a top lawmaker on capitol hill pushed stocks higher today. bernanke s comment came in response to questions from california republican darrell issa, chairman of the house oversight committee. bernanke added that the benefits need to be balanced against their potential costs and risks. the possility of more stimulus fr the central bangave investors hope and stocks spiked after that august 22 letter was made public this afternoon. the dow rose 100 points. the nasdaq added 16 and the s&p gained nine points. but in spite of those gains, all three of the major indices were down slightly on the week, their first negative week in a month- and-a-half. robert brusca doesn t believe bernanke will unveil any new policy moves when he speaks at a federal reserve conference in jackson hole wyoming next friday. he s chief economist of fact and opinion economics. bob, nice to see you. you know, people are really e
got physically ill. moody s has cut barclays from negative to stable. the ratings agency cited an uncertain management outlook as the reason for the decision. just moments ago, s&p did the same thing. more from this story in just a moment. steve? the focus will then turn to the u.s. jobs market, the adp employment report for june will be released at 8:15 eastern time, followed up by jobless claims data 15 minutes later at 8:30. all of this is the pregame for tomorrow s employment report. retailers are reporting june same-store sales today. analysts expect retailers could post their lowest monthly gains in three years. it s becoming more expensive meanwhile to rent an apartment. asking rents rose to $1,091 a month in the second quarter, 1% higher than the first quarter and biggest increase in nearly 2350i6 years. analyst says this affects the growing number of people who aren t able or willing to buy a new home and the lack of construction. walking in here i saw where th
that two top greek officials will not attend that key meeting for health reasons. the dow tumbled almost 140 points, the nasdaq lost 56 and the s&p 500 fell 21 points. suzanne pratt takes a look at what s troubling investors. reporter: talking with traders here at the new york stock exchange today about what s bugging investors, you guessed it. it starts with an e and ends with an e : europe. specifically, spain s official request for a bailout was a downer, suggesting to some there will soon be a third european country that needs help. on top of that, there s little confidence the e.u. two-day summit, beginning thursday, will produce any credible solutions. still, among traders, there s always the hope for a silver bullet. the consensus would be that if they could have one thing happen, it would be some sort of centralized, financial body that would come out of this meeting that would oversee all of them. reporter: others see that as an unlikely outcome, especially
will not attend that key meeting for health reasons. the dow tumbled almost 140 points, the nasdaq lost 56 and the s&p 500 fell 21 points. suzanne pratt takes a look at what s troubling investors. reporter: talking with traders here at the new york stock exchange today about what s bugging investors, you guessed it. it starts with an e and ends with an e : europe. specifically, spain s official request for a bailout was a downer, suggesting to some there will soon be a third european country that needs help. on top of that, there s little confidence the e.u. two-day summit, beginning thursday, will produce any credible solutions. still, among traders, there s always the hope for a silver bullet. the consensus would be that if they could have one thing happen, it would be some sort of centralized, financial body that would come out of this meeting that would oversee all of them. reporter: others see that as an unlikely outcome, especially as german leaders continue to