Skip to main content

tv   AM Wake Up Call  CNN  August 9, 2011 5:00am-6:00am EDT

5:00 am
it is tuesday, august 9th. i'm ali velshi joining you live. breaking news on the markets. take a look at this graphic. futures are down across the board for the dow, the nasdaq and the s&p. they were way up earlier this morning but early futures are never as accurate and dropped in the last couple of hours. the markets have been all over the place in asia and europe. right now let's go live to hong kong and see what happened overnight in asia.
5:01 am
good morning, andrew, we were hoping this would stop in america. when our markets closed yesterday afternoon they did not. what happened. >> reporter: it was odd. we've been having this conversation three hours ago i would say to you it looks like there could be some life. markets came off their low. there was a big sell off this morning. mutual funds were selling. more and more people were cashing in on their mutual funds. hong kong was down by 7%. seoul down by 9%. then just around the lunch time trading, just after the trading break things started to turn around. we came back again. australia finished in the black. right before the end of the day it went down again because london and european markets sharply lower. is volatility is intense and all this does is put a whole lot more pressure on the fed. >> at this point, andrew,
5:02 am
something that people -- they have not seen the. leadership in government. why do they think central banks hold the key to the problems we have right now? >> reporter: they want to see -- the fed want to see ben bernanke saying we will support -- take measures to support the economy which will support the markets. if you look historically what happened with qe1 and qe2 the markets got a bounce from the fed. so investors are looking for central bankers to come in and do something. no one is saying ben bernanke this time around is going to say we'll do qe3. it's a dangerous game, ali,
5:03 am
nerves are just frayed. >> when the european central bank put a toe in the water it triggered a sell off on thursday. you can read it as saving the day or saying wow things are way worse they expected, than we thought they were. andrew thanks very much. we'll talk to you later on. how bad was it on monday? if the day were a dog it would look like this. hideous with a few fleas. the dow dropped 635 points. it closed below 11,000 for the first time since november. the s&p was down 6.66%. the nasdaq was down 6.9%.
5:04 am
and the market lost $1 trillion in value. 2.9 trillion in the past two weeks or 15%. here's how cnn reported the story from open to close so you can follow it. >> knee jerk reaction, emotional reaction to the historic move by s&p. we're starting in the red. >> stocks have been in the red since the opening minute. >> dow jones off just about 2.5%. nasdaq off over 3.5%. >> another downgrade this time lowering the rating of mortgage giants fannie mae and freddie mac and the ripple effect keeps coming. >> now about 552 points down, the dow jones industrial. >> another horrendous day. >> goes down, goes up. very unusual for us. >> president obama says washington knows how to solve the problem. that politicians need to put the good of the nation ahead of the good of their parties.
5:05 am
here's more. >> markets will rise and fall, but this is the united states of america. no matter what some agency may say, we've always been and always will be a aaa country. >> well s&p doesn't see it that way. congressional leaders must appoint members to super committee of congress by a week from today. they will be looking for more ways to reduce the deficit. president obama said he'll be giving them ideas in the coming weeks. what else can he do? he wants to extend certain unemployment benefits and tax cuts. his former chair told cnn told john king the president should go bigger and bolder. >> if i were advising the president i would say take the next couple of weeks and make the case for something even more substantial like a very large tax cut for businesses that
5:06 am
actually hire people, or let's really do a serious amount of infrastructure investment. i think that's the kind of a bold policy measure that we need and i think that's what the president needs to articulate. >> okay. watch for some news out of the federal reserve. ben bernanke and the federal reserve board meet today. considering all that's happened in the past couple of weeks you got to think the fed might discuss some new fixes as andrew was saying for the economy or at the very least offer calming words for investors. the meeting is at 2:15 p.m. eastern time. the markets' loss is golds gain. hitting a new record. first time over 1700 not counting inflation. if you add up for inflation gold
5:07 am
is not at its highs. investors took cover in treasury bonds. interest rates were lower. the united states could borrow money for less, for lower interest rate on monday than could on friday before it was downgraded. how's that for an economic upside down pineapple cake. let's put what happened on monday in perspective. it marked the large joft drop. in terms of percentage losses, it doesn't rank in the top 20. take a look at the peaks and valleys over the years in the stock market. the chart doesn't lie. bad days are almost always just blips. the peaks are never far behind. now time for a little laugh. forget the aa battery jokes. jon stewart has a few things to say. >> from aaa to aa plus doesn't
5:08 am
sound that bad. if you have triple x movie you got home and found out it's double x plus. are there other countries who still have aaa ratings? >> everyone from australia to denmark, germany, europe's strongest economy. isle of man. >> we're below isle of man? this place? that place has better credit than we do? there's no industry there? they just horse around in the pool all day. >> that's man island. >> great britain totally different story. bad stuff going on there. three days and nights of viles and not over yet. we'll go to london after the break and show you why this that
5:09 am
you're looking on your screen is happening in london. here's the quote of the day. president obama show some guts and arrest the ceo of standard & poors. it's nine minutes after the hour. credit cards promise flights for 25,000 miles, but... [ man ] there's never any seats for 25,000 miles. frustrating, isn't it? but that won't happen with the capital one venture card. you can book any airline anytime. hey, i just said that. after all, isn't traveling hard enough? ow. [ male announcer ] to get the flights you want, sign up for a venture card at what's in your wallet? uh, it's okay. i've played a pilot before. that's not going to satisfy you. come on. it's time for a better snack. try this. it's yoplait greek. it has two times the protein of regular yogurt. you'll feel satisfied. [ female announcer ] yoplait greek. it is so good. oh, and there's a smile. i could not make working and going to school work.
5:10 am
it was not until the university of phoenix that i was able to work full-time, be a mom, and go to school. the opportunits that i had at the university of phoenix, dealing wh profesonals teaching things that they were doing every day, got me to where i am today. i'm mayor cherie wood, i'm responsible for the largest urban renewal project in utah, and i am a phoenix. [ male announcer ] find your program at and i am a phoenix. naturals from delicious, real ingredients with no artificial flavors or preservatives. naturals from purina cat chow. share a better life. it is 10 1/2 minutes the hour. now back to the quote of the day, the answer is film director
5:11 am
michael moore. he said president obama show some guts and arrest the ceo of standard & poors. these criminals brought down the economy in 2008 and now they will do it again. more vilolence in britain. fires. looting. roaming gangs. what's it all about? we'll have more details in ten minutes. kids in philadelphia have to follow a strict curfew not from their parents. philly mayor is enforcing a curfew on all minors following a string of attacks committed by mobs of young children. violators could face up to $500 in fines. d.b. cooper, that guy who
5:12 am
jumped out of the plane. the fbi did dna test on a neck tie. so far the dna shows no link. that doesn't rule out the new suspect. dna from three different people on the tie which may have come from a second hand store. the investigation continues. let's go to rob marciano live from atlanta. good morning. >> good morning. we think he was wearing a tie. if he's a hijacker he should be well dressed. we're looking at flight delays out of atlanta and new york. thunderstorms could be strong. afternoon thunderstorms possible. or really evening in boston. d.c., philadelphia and some in orlando. july let's wrap it up, fourth warmest on record for the u.s.. average 24 hour temperature was 77 degrees. it did not cool off at night and that was really what hurt the most. 2.7 degrees above the average for the past 100 years. oklahoma and texas the warmest
5:13 am
they've seen on record. exceptional drought, largest footprint for exceptional drought that we've seen since we had the trout monday for more the past 12 years. hot, hazy and humid across the southern plains including texas. thunderstorms in the eastern third of the country. the heat will continue in through dallas and oklahoma. you see that footprint starting to shrink just a little bit as we get closer to the weekend. they will break that long time record. also trying to break a record was diana nyad was trying to swim from cuba to the florida straits or key west, specifically and she had to give up about halfway through her journey, 105 mile trek across that very warm, shark infeftd and strong currented water. 61 years old. she said she was in better shape than she was back in '78 when
5:14 am
she tried at any time first time. she was getting nauseous. hats off to her for giving it the effort. i can't imagine swimming two miles let alone 105. >> i'm with you on that. >> good for her. it was a tough go. she did more than most people ever will in that sort of thing. rob, i'll check in with you later. he talks, acts like a candidate. will rick perry make his 2012 intentions clear in the coming days? we have a hint. it's 14 minutes the hour. ♪ let me make you smile ♪ let me do a few tricks ♪ some old and then some new tricks ♪ ♪ i'm very versatile ♪ so let me entertain you ♪ and we'll have a real good time ♪
5:15 am
[ male announcer ] with beats audio and flash, you can experience richer music and download movies straight to the new hp touchpad with webos.
5:16 am
is 16 minutes after the hour. comedian steven colbert is speaking out about the u.s. credit downgrade. >> it has always been aaa but now plummeted to the unthinkably humiliating aa plus. and we have to get our parents to sign it and turn it back in. there's nothing to worry about. >> more than 400 points. >> the dow is down more than 500 points. >> down 600 points. >> down 630 points. wall street spending, yet road day in what's being described as freak out mode.
5:17 am
>> just remember, over the long term, stocks always increase in value. okay. this is just a temporary correction. okay. there's no need to lose confidence in the system. okay. yes. perhaps -- perhaps we're experiencing a wee bit of a contraction but don't pull your money out of the stock market just yet. get in. >> that was good. time now for your political ticker with tim farley. live from washington. tim -- he was right there. was it something i said, tim? i hear you. where did you go, tim? >> reporter: i don't know.
5:18 am
that new technology. >> you're a radio guy. we can do this like radio. you're better looking than radio. all right. tim, first talk about this test vote in iowa for the republican presidential campaign. what is this about? >> reporter: the straw poll on saturday, never predictive, you can't decide who will win the caucus or nomination. it gives you a sense how candidates are poised to move onward. tim pawlenty would like to get a win. michelle bachmann is the favorite. they spent all kinds of money on buses and food. not that many people voting. but it will be at least, i guess, a substantial objective step in campaigns. there's something, ali, you teased it before that can suck the air out of the room. the unknown factor. something else is happening on saturday. >> we think we're getting hints.
5:19 am
we kind of are guessing that rick perry is going to zoeg. do you think he's formally entering the race? >> reporter: he is hot, hot, hot. it's been reported he'll make that announcement on saturday. not an official announcement but you'll see him play texas ho hold 'em. he sounds like a candidate. >> it's going to be interesting to see what he does. all eyes are on rick perry right now and that's going to complicate whatever happens at the straw poll. you mentioned tim pawlenty. there's a couple of candidates. if they don't farewell do people typically top out after this or as you said it's not predictive. >> reporter: it makes it tough for them to get money. people like rick santorum or newt gingrich, gary johnson, former governor of new mexico.
5:20 am
some of the others. it may be that they will stick around but makes it a tougher road to hoe. >> all right. tim, have a great show this morning. tim farley. it's national day of polka festival, 20 minutes after the hour. [ male announcer ] to the seekers of things which are one of a kind. the authentic, the rare, the hard to define. to those always searching for what's pure and what's real from we who believe we know just how you feel. haagen-dazs.
5:21 am
5:22 am
5:23 am
okay. 23 minutes after the hour. let's go around the world. max foster is live from downing street in london. he's been following this rioting that prime minister and other government officials have cut their vacation short to return to london and hold an emergency meeting. max, this has become a big deal. what started it and what are people doing about it now? >> reporter: seems to have escalated. originally it was linked to a shooting of a young man in north london. now you have a situation where mobs traveling around london, setting fires, attacking shops. extraordinary scenes overnight in london. just to explain, ali, every single police cell in london now is full. police cells from other police force. extraordinary scene.
5:24 am
senior police officers saying they are fully stretched. and just to explain what david cameron has come back to from his holiday, headlines like this. mob rules. police surrender streets. who is in charge. the police don't seem to be in the charge. government doesn't seem to be in charge. what's happening in the building behind me is a decision on what will happen next. david cameron's leadership, the biggest test of his so far. >> max, what is the rioting about. do we have some sense who these roaming mobs are? do they have a grievance? are they protesting? is it just momentum? what is it? >> reporter: well, we don't know. we were out last night in the streets and you have this extraordinary scene where a shop was being mobbed in south london. we followed the police into the shop. the shop was being looted. these youth ran off in the other direction. they are not protesting about anything. no ideology behind it.
5:25 am
they are attacking shops and making what they can of it. they are saying we're getting our taxes back. young people in anarchy. david cameron is about to speak. so the meet is over. microphones are set up there. options open to him, bringing the army out. the home secretary said that's not likely. david cameron might assert his leadership by saying we'll bring the army out. a local m.p suggest ad curfew, youth curfew. never seen in the uk before. pretty unmanageable. we'll see what he comes up with. it has to be decisive. >> a curfew in philadelphia. here are three things to put on your rare. ben bernanke and the federal
5:26 am
reserve board to talk about our economy. we'll talk to the chairman of the s&p. and this afternoon president obama meeting with secretary of the treasury tim geithner, a closed door meeting. can you guess what they will be talking about. they are rich but on tax day they didn't owe the government a dime. why did hundreds of millionaires not have to pay federal income taxes? ♪ ♪ [ male announcer ] more people are leaving bmw, mercedes and lexus for audi than ever before. experience the summer of audi event and get over 130 channels of siriusxm satellite radio for 3 months at no charge. that's me with the blow dryer and the flat iron until i see smoke.
5:27 am
so pantene said, "breakage and split ends? no problem." they gave me this pantene called breakage to strength. [ female announcer ] the keratin protection pro-v system helps prevent then repair split ends. zero fear of breakage, 100% more strength. no regrets, just health. i'm not giving up the heat. [ female announcer ] the breakage to strength system from pantene. we get double miles on every purchase, so me and the boys earned a trip to dc twice as fast! oh hi! we get double miles every time we use our card. and since double miles add up fast... one more chariot please. ...we can bring the whole gang! i cannot tell a lie. he did it. right... it's hard to beat double miles! read my lips -- no new axes! [ male announcer ] get the venture card from capital one, and earn double miles on every purchase, every day. go to what's in your wallet? so, you're a democrat right? setting that goal to become a principal. but, i have to support my family, so how do i go back to school?
5:28 am
university of phoenix made it doable. a lot of my instructors were principals in my district. i wouldn't be where i am without that degree. my name is dr. carrie buck. i helped turn an at-risk school into an award winning school, and i am a phoenix. [ male announcer ] find your program at
5:29 am
good morning. tuesday, august 9th. this is your a.m. wake up call. i'm ali velshi. the market turmoil is not letting up. overseas stocks took another tumble this morning with the nikkei ending at its lowest
5:30 am
level since march. experts fear the drop is just the beginning as standard & poor's downgrade just threw down the hammer. more downgrades are expected this week. the markets seem to be reflecting a sweeping feeling uncertainty of the financial future of the united states. the fear index has jumped to its highest level in years. stocks plummeted to its lowest since 2008. will it lead to a global recession? experts say it's possible. >> i think what is true is the risks of a recession have clearly gone up substantially. >> we actually have an economy that's going in the wrong direction now at a time when we need it to grow. it's starting to fall back. front page of the "new york times", double dip recession. >> one of the real problems what happened it spookd consumers. it could make people fearful and
5:31 am
that can hasten a double dip. >> most experts believe the market shock won't last long term. now listen to this. nearly 1500 millionaires paid nothing in federal income tax in 2009. zero. this is according to a new report from the irs. now these high earners are not scamming the system. the money went to deductions, writeoffs or loopholes. airlines rolling back on ticket costs. major airlines upped prices during the faa shutdown last month when federal taxes on airline tickets were suspended because the government didn't renew the faa's budget. instead of you getting a break ashlgs pock airlines pocketed the extra money. now they are dropping their rates. states will soon have the
5:32 am
option to leave behind the no child left behind. president obama called to revoke the program. his administration plans to grant waivers to qualifying states that want out. specifics will be released next month. markets aren't the only ones reacting to the s&p downgrade. jay leno had a thing or two to say. >> remember a movie in america, "rise of the planet of the apes." they have a aaa rating. we can go to aa plus to fu. that's how bad it got. it gets worse. today england, italy and greece befriended us on facebook. bad day for the stock market. down over 600 points. let's see how the e*trade baby reacted to the news.
5:33 am
that's not good. >> all right. could this debt crisis turn into a housing crisis? christine romans will deal with that in 60 seconds. and which countfour companies h better credit rating than the united states? we'll tell you that after the businessman's special. thy fiest. thy fiest. gotta love the protein for muscles-- whoo-hoo! and omega-rich nutrition for that shiny coat. ever think healthy could taste so good? [ woman announcing ] new beneful healthy fiesta. at exxon and mobil, we engineer smart gasoline that works at the molecular level to help your engine run more smoothly by helping remove deposits and cleaning up intake valves. so when you fill up at an exxon or mobil station, you can rest assured we help your engine run more smoothly while leaving behind cleaner emissions.
5:34 am
it's how we make gasoline work harder for you. exxon and mobil. that's not going to satisfy you. come on. it's time for a better snack. try this. it's yoplait greek. it has two times the protein of regular yogurt. you'll feel satisfied. [ female announcer ] yoplait greek. it is so good. oh, and there's a smile. . 34 minutes after the hour. this is your a.m. wake up call. there are four u.s. companies that now have a higher credit rating than the federal government. that is weird. adp, exxonmobil, johnson & johnson, and microsoft. let's go to christine romans live here in new york. christine, good morning. you always have a smile on your face. you're not smiling. this is very serious.
5:35 am
christine romans, what's wrong? >> what's there to smile about. >> yesterday after the downgrade we got on friday we knew this would come because if you're a government-sponsored entity, a gse, you're going to get a downgrade too if you depend heavily on the federal government, fannie mae and freddie mac got downgraded. a lot of people said what does that mean? >> it means could it be harder to get a mortgage. i've long held that the reason it's hard to get a mortgage is because we don't have 20% down, not a perfect credit score and you don't have a job. those who watch the housing market say it's another hit. they were downgraded because they have a lifeline from the government. they didn't exist without the government. they can't have a higher credit rating than the government. fannie mae and freddie mac officials and american government officials say the bonds of those big companies are, you know, they are clear, they are good, they will be
5:36 am
paid, don't worry about anything like that and those are widely held. don't forget you have those somewhere in your portfolio. >> here's the thing. the u.s. ten year note which is where mortgages, that's where your fixed-rate is set, it costs less, the yield is lower, costs less for the government to brother money for ten years today than it did on friday before we were downgraded. >> absolutely a very good point. that's the other reason why i say in theory every time i try to explain what the direct impact is on these things because we don't know exactly how it will work out. we've never been downgraded before. we also know the entire financial system is button presumption that the u.s. is aaa. mohamed el-erian from pimco has written about this. we'll have to watch to see how the connections change or all terrify over the next weeks and months to see how it will pan out. we'll be watching out municipalities and what it means for them. borrowing money in your own home
5:37 am
town. we'll be watching that. >> give me 30 seconds on this. a little quiz for you. what stock on the dow, one of the dow 30 lost 20% yesterday? >> bank of america. this stock got hammered. it lost something like dallas 33 billion in short order. on paper. the stock has been hit so hard. remember countrywide? there's real concerns about a slowing economy what that means for its business, what its exposure to these loans. the lawsuits of countrywide during the boom and subsequently the bust. so this is a company. watch it carefully. will this thing bounce back? this is a stock that's been hammered so severely. but it does have, the analysts say significant problems with that countrywide and exposure and also just a slowing economy what that means for its business. we'll watch this one closely.
5:38 am
a lot of people say this is a big test for the ceo of this company. how will he weather this because it's been tough. >> i'll see you in 20 minutes. been a tradition on capitol hill since the 1800s. now congress is ending the page program. online spending is up over the same quarter last year by 5%, 14% or 20%. i'll have the answer four in 90 seconds. 38 minutes after the hour.
5:39 am
5:40 am
let's get you back to today's get smart question. online spend is up by 5%, 14% or 20%? the answer is 14% according to
5:41 am
comscore. time now for our political ticker. let's bring in our comedian and host, pete. good morning. >> reporter: good morning. >> you know, i have to ask you, whenever i think of the super committee that has to deal with our deficit, i don't know, i think of you. congress has got the super committee, they got to fix the debt now with the credit rating. a lot of pressure on them. >> reporter: yeah because guys like me are cryptoni temp, constantly criticizing them. the deadline is coming up august 16th to appoint the members to the super committee. six republicans, six democrats, had a listener suggest that maybe the democratic leadership can select the republicans and vice versa, republicans select democrats. that idea is not going to happen and president obama dipped his toe in the water saying we need modest reforms and tax raises
5:42 am
and eric cantor said no. we'll see what happens november 23rd is the deadline. they got to make these cuts but i think there will be a lot more fighting yet to watch, mr. velshi. >> no kidding. the white house page program sending. been around forever since the 1800s or something. what's up about that? >> reporter: 1820 this program was instituted, but finally republicans and democrats agree on something. john boehner and nancy pelosi said no morehouse page program. too expensive. $5 billion. congress, at least in the house they don't need these pages to run them messages. their purpose, the only purpose that these pages served was to tempt the sexual desires of house members. but who, i ask, is going to help them download their apps on
5:43 am
their phones. that's a real shame. >> good point. always finding the cloud inside the silver lining. good to see you, pete. enjoy yourself. we jump on the elevator this morning. be grateful you don't have to take the stairs this day in history back in 1859. the elevator was patented. it's 43 minutes the hour.
5:44 am
5:45 am
5:46 am
good morning. it is tuesday, august 9th. i'm ali velshi joining you live from new york this morning, 46 minutes after the hour. prime minister david cameron of great britain expected to speak right there in front of 10 downing street any minute now as violence rages in london. fires, looting, roaming gangs, standoffs with police, third night of mayhem sparked by the police shooting of a 29-year-old man in london. more than 300 people have been arrested since it began. let's go around the world with nina from london watching money. i got a few hours of sleep last night. what's going on with markets right now? >> pretty difficult to predict the trend. in fact these european markets started on a down beat note. then went up and then promptly
5:47 am
went down. we're seeing the trading that we've seen all week which means we're seeing an eighth day of losses. some of these losses are pronounced with countries like the uk, the markets in france and the dax in germany down. eighth straight day of trading that we've now nochd up over $5 trillion worth of equity market losses around the world as this stock market slump continues. some markets like italy have now entered bad territory which means they got in excess of 20%. all of this is on the back of concerns that the leaders may not be able to solve the debt crisis as it rumbles. the ecb is still buying bonds and spanish debt. >> now that the u.s. was downgraded by s&p to aa plus are there concerns other countries that you've been following closely in europe could follow a downgrade path.
5:48 am
>> there are indeed. jpmorgan has been reported as saying he's expecting france or even the united kingdom to join the united states in the club of countries that have been downgraded from a aaa credit rating status to aa. if that happens that would be significant for the markets. the markets already started pricing those kind of comments in yesterday. what we saw the credit default swap which is effectively the assurance contract on the french sovereign, that insurance contract rose enormously and also the yields on french debt rose as well. what we're seeing at the moment is a relief rally in the bond market. the ecb in its second day buying italian and spanish treasuries brought the yields down to just under 5%. >> thank you. we'll stay with you on this. how bad was monday by the way in the stock market? if it were a dog it would look something like this, tongue
5:49 am
hanging out. the dow dropped 635 points. that's sixth biggest point drop in history. closed below 11,000 for the first time since november. s&p down 6.66%. the nasdaq down 6.9%. the market lost trillion dollars in value. the stock market is down 15% in the past two weeks. >> knee jerk reaction, emotional reaction the historic move by s&p. we're starting in the red. >> stocks have been in the red since the opening minutes. >> the dow jones off just about 2.5%. nasdaq off over 3.5%. >> another downgrade this time tloerg ra lowering the rate of fannie mae and freddie mac. >> 250 points down the dow jones industrial. >> another horrendous day for
5:50 am
stocks. >> goes down, goes up. two days in a week like this. very unusual for us. >> ratings, schmating. that's what president obama had to say. >> markets will rise and fall, but this is the united states of america. no matter what some agency may say, we've always been and always will be a aaa country. >> congressional leaders have to appoint members of the so-called super subcommittee by a week from today. president obama says he wants to extend certain unemployment benefits and payroll tax cuts. one of his former economic advisors says the president should go bigger and bolder. >> if i were advising the president now i would say take the next couple of weeks and make the case for something even more substantial like a very
5:51 am
large tax cut for businesses that actually hire people, or let's really do a serious amount of infrastructure investment. i think that's the kind of a bold policy measure that we need. i think that's what the president needs to articulate. >> before you head out to the world, keep the manic monday market in perspective. this is a big long chart of the peaks and valleys in the stock market over the years. you can see bad days are almost always just blips. the peaks are never far behind. time for your monday morning punch line. jon stewart thinks you are stupid. >> your name is still stupid. stupid name standard & poor's. you're suggesting our economic system is reckless? you don't watch the sunday morning news shows.
5:52 am
>> shut up. shut up! >> let's go live to rob marciano in atlanta. what's the flight situation looking like this morning? major delays there on that board? >> later on even as early as lunch time places like new york city and the metro airport there's and atlanta will see some thunderstorms. decent little low tracking across the ohio river valley and into boston as well. more sting and overnight period. orlando also some pop up thunderstorms. other big news, this past july was the fourth hottest for the u.s. on record. average temperature for the 24 hour period, 77 degrees. toasty at night. no relief. 2.7 degrees above average. oklahoma and texas were the warmest months on record. not getting any cooler. 108 expected in dallas. they are on their way to break
5:53 am
their streak of 42 days in a row of 100 plus. 85 expect forward a high temperature in new york. there's your thunderstorms that are expected to roll across the ohio river valley in the eastern third of the country. yesterday we talked about a 61-year-old swimmer that jumped into the water in havana, cuba, sunday afternoon and was going to swim 105 miles over to key west. 29 hours into her journey, late last night at 12:45 a.m., she had to give up about halfway. started to get sick and wasn't a good deal. she got on the boat and her second try at it. 105 miles across. back to you. >> it is a lot. when you think about that i have trouble getting to the other side of the pool. i want to take to you london for a second. we have pictures of a fire that apparently has been burning for a little while. i'm told this is a sony plant in
5:54 am
thrown. we've been reporting on these riots. we have no information that's connected to that at all. you can see that black smoke burning now. we have a shot from a helicopter. we can give it a shot of it for you. we do understand dvds and electronics are made in that factory. the reason we're showing it to you because we're waiting for prime minister david cameron to come out and talk about the rioting going on. we have no information those two things are connected but quite a picture of a fire there at the sony plant. before we go let's look at the word of the day. imminently. the president used that on the downgrade. there's an asterisk in the transcript. find what out it is and what it means. it's 54 minutes the hour. ♪
5:55 am
♪ introducing purina one beyond a new food for your cat or dog. ♪ ♪ [ male announcer ] more people are leaving bmw, mercedes, and lexus for audi than ever before. ♪ experience the summer of audi event and get over 130 channels of siriusxm satellite radio for three months at no charge. fiber one. uh, forgot jack's cereal. [ jack ] what's for breakfast? um... try the number one!
5:56 am
[ jack ] yeah, this is pretty good. [ male announcer ] half a day's worth of fiber. fiber one. [ jack ] yeah, this is pretty good. woman: day care can be so to save some money, i found one that uses robots instead of real people. 'cuz robots work for free. robot 1:good morning... robot 1:...female child. sfx: modem dial-up noise woman: flaws? yeah, um, maybe. anncr: there's an easier way to save. anncr: get online. go to get a quote. 15 minutes could save you 15% or more on car insurance. the authentic, the rare, the hard to define. to those always searching for what's pure and what's real from we who believe we know just how you feel. haagen-dazs.
5:57 am
5:58 am
it's 58 minutes after the hour. the word of the day is imminently. listen closely as president obama talks about the debt downgrade. >> our problems are imminently solvable. and we know what we have to do to solve them. >> okay. so did he say our problems are imminently solvable or emcontinently? nearly identical in sound but not in definition. imminently means soon, emcontinently means to a high degree. the official white house degree reads imminently with an asterisk. futures have been all over the place today, carter?
5:59 am
>> reporter: ali, currently futures are down again. not as bad as yesterday. this is the cnn. dow futures down, nasdaq up 20 points, s&p down about 12 points. where is everybody going? again they are fleeing to gold. gold prices over here. gold prices 1772 an ounce. that would be a new record. that's what it's trading at. crude oil below 78 bucks a barrel or 78 1/2. it feels like 'tises are a passenger on a jet that's flying through a hurricane. we walk up to the cockpit and there's no one there. the halls of congress are empty right now. where are these people. they need to come back and do their jobs. >> i hear you. carter we're looking at that flight out of oil which is kind of interesting. that might have some positive benefit. >> we could see gas prices fall to as low as


info Stream Only

Uploaded by TV Archive on