It is saturday, november 24th. Im randi kaye. Im Victor Blackwell. Thank you for starting your morning with us. We begin in Tahrir Square this morning where hundreds of protesters have been arrested during antigovernment dmem k. Demonstrations angry with their president over his new power grab. Opposition leaders say he is now more powerful than former president Hosni Mubarak ever was. This week, leaders around the world praised him for brokering a cease fire between israel and hamas. More now on his new powers and the anger it spurred. If anyone thought egyptians were tired or weary of protesting after two years of demonstrations, all you had to do was look at cairos Tahrir Square on friday and it was clear thats not the case. The demonstrators appeared to be as determined as ever and this time theyre going after their current president. Outrage, clashes, and anguish in tahrir. Thousands of angry egyptians back in a Public Square that has become the arab worlds emblem for the democrat
D dallas was a long running hit in the 70s and 80s and you may remember him as major nelson from i dream of jean any. Barbara eden said i had the pleasure of watching the texas tornado that was larry hagman. Can i honestly say that weve lot not just a great actor, not just a television icon, but an element of pure americana. Much more on larry hagman later in the hour. Black friday has come and gone, but the nations retailers hope the effects will be long lasting. Shoppers sprinted into the stores in search of holiday bargains. Retailers can rack up 40 of the sales during the november and december shopping period and if you didnt find what you wanted, check out some of your local area stores during Small Business saturday. The initiative founded two years ago by American Express aims to steer some of those big bucks to the smaller stores. And while walmart says it was the best block friday in store history, the day wasnt without controversy. From california to kentucky, protesters rall
Firms in new york are in place ahead of the socalled super storm. Reports say eurozone finance ministers will meet october 31st to decide whether to release 35 billion of aid to greece. 500 chefs are asking the u. S. Government to prevent unapproved fish from making it onto american plates. And the National Average on a gallon of unleaded gasoline dipped 14 cents from last week. Kevin craney of rjo futures joins us on this monday morning. Good morning to you kevin. Good morning. Betterthanexpected news about the economy came out in that gdp number on friday. Will we see followthrough in the market today . I think you will see a little bit of followthrough. That number is really a feel good number. 2 above expectations. But really i do think its important to dig down into the details of that number fixed investment and exports actually contracting. So, the question is how long can the consumer continue to spend and the government continue to spend and prop up the economy . So, i think t
Splitsecond stats. [ indistinct shouting ] its so close to the options floor. [ indistinct shouting, bell dinging ]. Youll bust your brain box. All onhinkorswim from td ameritrade. Liz off the lows, but a sell off nonetheless on wall street. The biggest one this year. Granted the year is young, but buyers today are few and far between. Here it is on your screen. The dow 30 mostly in the red, with just boeing, verizon, cisco and United Health group moving higher. Good afternoon everybody. Im liz claman. Countdown to the closing bell begins right now. Last hour of trading. Blue chips are back below that key level, retreating from five year highs. While we are down 97 points, we had been down 142. So again 50 points off the lows, not so bad. We will take it. S p 500 down 37 sorry, nasdaq down 37. The s p down 12. Straddling the 1500 mark right now. What is behind the weakness. Place the blame on europe. Structural reforms may be put on hold, especially if italian Prime Minister berlusconi
Cliff, end quote. Heres what he was describing on january 1, 2013, tax breaks worth 416 billion will expire. Spending on things like defense, medicare payments to doctors will be slashed by 65 billion. Add it all up and you are talking about cutting roughly half a trillion dollars from the federal budget. The Congressional Budget Office and others warn going over the cliff will send the economy into a recession in the first half of next year. It was congress and the white house that set the deadline in hopes of forcing each other to cut the federal budget deficit and begin to address the growing national debt. Of the half trillion dollars the fiscal cliff is designed to cut in red ink next year, 80 of it comes in the form of higher taxes. Under current law, 20 comes from lowering government spending. This is just the first step as part of a 7 trillion effort to cut the debt over the next decade. That has led some to describe what could be coming as a fiscal slope, not a cliff. Whatever