neil: not today. still shy of an all-time high but we got close. the dow seeing green for the month of february nevertheless and has been investors celebrating. market watcher larry is worry else is driving this. and melissa is in texas. larry, your sense of whatever will propel us to that record high it s when, not if is all the wrong stuff. explain. well, investors were remind not to focus on the number, whether it s the dow or the s&p. instead focus on the fundamentals can the foundation of the economy. why were there and what is the support for that rally going forward? individual investors know they can t fight the feds. they can t sit there when their
caused. nearly 16,000 people died when it hit and triggered a tsunami. next in iran iran bragged about sending a monkey into space? is the president next? he volunteered to be blasted into space to test the nation s ability to put a human in orbit around the earth. a mad dash for cash in shanghai. a man went to the bank losing most of it when the wind blew away. he was able to get back 1200 of the $2,800. what a bummer for him. ainsley thank you so much. the justice department is now suing standard and poors. it s the nation s largest credit rating agency. the agency played a huge role in the 2008 financial crisis. diane macedo from the fox business network has the details. the justice department is suing s&p saying the high ratings to mortgage bonds that
the gas pumps. as of today paying an average of $3.86 a gallon regular. price going up almost 50 cents in the past two months. also on the rise, the stock market. big gains tacked on last week after the federal reserve announced more quantitative easing known as qe-3. however a credit rating agency downgraded the u.s. debt rating from aa to aa minus following that decision. joining me is jared bernstein, former chief economist for vice president biden. welcome back to the show. thanks for being here. sure. we re looking at this. we have egan jones rating that agency rating qe-3, saying it s going to hurt the economy more than it s going to help. you wrote in a column on msnbc.com that qe-3 will help. but not a loalone. can you explain all this? sure. that little notch down nlt credit rating doesn t worry me that much. standard and poors took the u.s.
read 14,2 and not 7.8 president. agencies at moodies is set to downgrade the u.s. triple a rating again. allyson: that s the prediction if congress fails to reach a deal. stewart varney joins us. dejavuall over again. gretchen: we talked about it left year and now back to the forefront, why? last august standard and poors downgraded america and moodies is saying watch out. if you don t get your debt under control. moody s said you own more than the entire size of your economy and own16 trillion dollars. and you are out of whack.
really? and maybe a bunch of billionaires as well. what many people are asking is to buy or not to buy? that is the question today. ali velshi and christine romans have very, very different opinions on whether you should buy in or not. i m curious. do you buy? i m on facebook. love facebook. is this going to be apple or not? remember, apple went sideways for a long time and almost went out of business first, right? it s more like google maybe. google went up. both were game changers. that s right. this is going to be history one way or the other. the way i see it, this is the second transformation of the internet. the reason i say that, remember, brooke you re probably too young to remember. when we used to get all those disks for aol, they would mail them to you. you get them at the supermarket and you get this portal? the internet was about portals where you got weather, traffic, business, sports, all these things you didn t know where to get anywhere else. google