and tonight during the broadcast i will do an exclusive first-time interview with house speaker mike johnson and hakeem jeffries, minority leader. he used to play and a fan of the new york yankees. i ll be doing color commentary on fs1 and the washington capital handles play-by-play and congressional baseball shooting is now available on fox nation. guys, back to you. steve: we ll be watching. thanks, chad. ainsley: everyone have a wonderful day. see you tomorrow. lawrence: a fun show. brian in dallas, back on the couch tomorrow. steve: have a great day. america s newsroom starts now. bill: good morning. so two weeks and two trips to europe. president biden heading to italy for a g7 summit. yesterday around this time he met with his son, hunter, after his felony gun charge conviction. will a change of scenery satisfies. we ve seen the threat from foreign terrorists rise to another level. by no means a time to let up or dial back. now, on top of that, increasingl
another recession. and adds new urgency to the political debate here in washington over new jobs initiatives. the dow jones industrial average was down just short of 420 points or 3.7%. the nasdaq down 5.2%. the s & p 500 down 4.5%. it is what drove the markets down that is again stoking recession fears. overseas more jitters as europe struggles to contain its debt crisis. here at home, data some see as evidence of a new downturn. weekly unemployment claims rose much more than expected. sales of existing homes dropped by 3.5% in july. analysts had been expecting a modest increase. the key manufacturing index was way down. and inflation on consumer goods was up. add in collapsening consumer confident and you get sober advice like this. 2012 could be a very difficult year. i m on the camp that we have more chance of being in recession than avoiding it. so they should be conservative right now. their confidence should be down. because there s every reason out there that they s
sales of existing homes dropped. and manufacturers had been expecting a modest increase. and inflation on consumer goods was up. add in collapsing consumer confidence and you get sober advice like this 2012 could be a very difficult year. i m on the camp that we have more chance of being in recession than avoiding it. so, they should be conservative right now. their confidence should be down because there s every reason out there that they shouldn t feel confident. getting us started tonight our chief business correspondent ali velshi takes us behind the numbers. john, when you have days like this, it s hard to get a sense to pull back and take a further view, so i wanted to do that and pull back and take a look at the dow which is, you know, what a lot of people s 401(k)s look like, wanted to take it from the beginning of the year. 11,500 on the dow, went up to 12,500,000 and back down in june and july went back up. middle of july you would have thought everything wa