ashley morrison here in new york. thank you, ashley. >>> coming up on the morning news, thousands pay tribute to coach joe paterno ahead of today's memorial. plus, gabrielle giffords returns to congress to say farewell. you're watching the "cbs morning news." osec otc have asked yours truly to teach you about treating frequent heartburn. 'cause i know a thing or two about eatin'. if you're one of those folks who gets heartburn and then treats day after day... well that's like checking on your burgers after they're burnt! [ male announcer ] treat your frequent heartburn by blocking the acid with prilosec otc. and don't get heartburn in the first place! [ male announcer ] one pill a day. 24 hours. zero heartburn. block the acid with prilosec otc, and don't get heartburn in the first place. available at walmart. but sometimes i wonder... what's left behind? [ female announcer ] purifying facial cleanser from neutrogena® naturals. developed with dermatologists... it's clinically proven to remove 99% of dirt and toxins an

ashley morrison joining us live in new york. thank you. >>> straight ahead, your thursday morning weather. plus in sports, tennis can be a frustrating game. but this guy, he might need some anger management. in my line of work, it's not uncommon for the term "hero" to be bandied about. but does bringing a floor back to life really make us heroes? [ chuckles ] yes. yes, it does. ♪ call 1-800-steemer nyqui tylenol: me, too. and cougnasal congestion.ers? yes. yes, it does. nyquil:what? tissue box (whispering): he said nasal congestion... nyquil: i heard him. anncr vo: tylenol cold multi-symptom nighttime relieves nasal congestion... nyquil cold & flu doesn't. >>> here's a look at the weather in some cities around the country. new york, sunshine. 36 degrees. miami, partly sunny, 78. chicago snow, 21. dallas, sunny there, 68 degrees. sunny in l.a. as well. 66. >>> time now for a check of the national forecast. heavy snow will fall in eastern washington, idaho and western montana. snow turns to rain along the northwest coast reachin

ashley morrison with more. >>> good morning, terrell. in overseas trading, the nikkei had a one-week high finishing higher than more than 1%. hang seng rose more than half a percent also. >>> investors on wall street are anxious to hear the earnings report from jpmorgan chase this morning. it's the first of the big banks to announce fourth quarter results. stocks finished higher on thursday. the dow added 21 points and the nasdaq gained nearly 14. >>> newly released documents show a federal reserve officials did not see the collapse of the housing market coming. transcript from 2006 meetings reveal that chairman ben bernanke and other fed officials, including treasury secretary timothy geithner failed to recognize the risk of falling home prices. the collapse of the housing market a year later helped trigger the great recession. >>> applications for unemployment benefits rose last week to their highest level in six weeks. the spike can be attributed to the loss of thousands of seasonal jobs. but there is encouraging news. home depot is p

no ashley morrison. thank you so much. >>> comedy was king at last night's 38th annual people's choice awards. here on cbs. the box office smash bridesmaids took the award for favorite comedy movie. cbs's how i met your mother was voted favorite met work tv comedy and another hit, two broke girls won the award for favorite new tv comedy. ashley, they have to separate us. >>> coming up, we'll have your weather forecast. in sports, a wild overtime duel in l.a. the clippers and the heat slug it out. [ male announcer ] this is coach parker... whose non-stop day starts with back pain... and a choice. take advil now and maybe up to four in a day. or choose aleve and two pills for a day free of pain. way to go, coach. ♪ ♪ [ gong ] strawberry banana! [ male announcer ] for a smoothie with real fruit plus veggie nutrition new v8 v-fusion smoothie. could've had a v8. new v8 v-fusion smoothie. but one is so clever that your skin looks better even after you take it off. neutrogena® healthy skin liquid makeup. 9

ashley morrison in new york. >>> nasa released a new portrait of planet earth. this sharp image is actually a composite of several pictures taken earlier this month. it is the first of a new generation of spacecraft designed to study many facets of our ever-changing planet. boy, that's a beautiful shot. >>> straight ahead, your friday morning weather and in sports, the celtics drive to a stunning comeback against the magic in orlando. maybe you can be there; maybe you can't. when you have migraines with fifteen or more headache days a month, you miss out on your life. you may have chronic migraine. go to mychronicmigraine.com to find a headache specialist. and don't live a maybe life. ♪ [ gong ] strawberry banana! [ male announcer ] for a smoothie with real fruit plus veggie nutrition new v8 v-fusion smoothie. could've had a v8. ♪ a little rendezvous ♪ that special something ♪ that will carry you through ♪ that little reward ♪ for all the things you do [ female announcer ] luscious, creamy filling -- perfectly combined with our intense, slow-melting

ashley morrison has more. >> good morning, betty. in overseas trading stocks in asia extended gains. the nikkei rose more than 1% hitting a five-week closing high while hong kong's hang seng added more than 1%. >>> today we'll get the earnings report for the nation's biggest bank, bank of america. it announces fourth quarter profits before the opening bell. on wednesday stocks finished at the highest level since july. the dow added 96 points and the nasdaq gained 41. >>> eastman kodak filed for bankruptcy. that happened early this morning. the company has obtained a $950 million line of credit from citigroup to keep it going as it reorganizes its business. kodak has struggled to remain competitive as digital photography has become more prevalent. it's not posted an annual profit since 2007. >>> federal authorities charge seven people with running a $78 million insider trading ring. prosecutors say a dell computer employee passed along inside company information that made it to several hedge funds. it will be the largest transaction e

ashley morrison has the latest on that. good morning. >> good morning, betty. in overseas trading, strong earns r earnings and jobs reports. nikkei finished up 1.5% to the highest level in more than two months. hong kong's hang seng rose by nearly 1%. >>> the lowest number of unemployment claims in almost four yiers gave stocks a big boost. the dow added 45 points and the nasdaq gained more than 18. >>> investors were searching for reasons that google missed the mark on its earnings report. the internet company's fourth quarter profit were up 6%. but that wasn't enough to beat estimates. microsoft did better than expected to end 2011. the computer giant was lifted by holiday sales of the x-box video game console. >>> the big winner of the day was general motors. gm regained the title of world's largest auto seller. the car maker sold more than nine million vehicles worldwide last year. the company reported a net income of more than $7 billion for the first three quarters of 2011. gm announces the full-year results next month. >>> the 30-year mortgage rate is at

ashley morrison in new york with more. good morning. >> good morning, terrell. market in asia slumped this morning. the nikkei dropped more than pstraight session of losses. the hang seng shed more than 1.5%. >>> on wall street, investors are looking for the dow to get back on track. it lost 74 points on friday and finished in the red for the first time this year. the nasdaq was up 11 points. >>> the january jobs report will come out this week and amazon.com and exxon-mobil. the big news on wall street is the announcement that facebook is going public. the social media site could file paperwork for an ipo in week. facebook could raise as much as $10 billion once it starts selling the stock to the public. >>> european leaders are meeting in brussels today to try to solve the debt crisis. the summit will focus on austerity measures and a tentative greek debt deal reached over the weekend. but the leaders will be facing protests. belgium's three major unions launched a 24-hour strike last night. >>> the chief executive of the royal bank of scotland is turning down

ashley morrison is in new york with that and more. >> reporter: asian stocks were mixed on monday. the first day of trading of the year on wednesday. the nikkei added 1% and the hang sang slipped back after making gains on tuesday. >>> wall street is off to a roaring start in 2012 and the first day of trading this year points, while the nasdaq gained 43. >>> the federal reserve will keep the public up to date on its plan for interest rates. on tuesday, the fed said it will make four announcements a year on how long it plans to keep short-term interest rates at their current levels. the move could encourage businesses and consumers to borrow money and, in turn, stimulate the economy. >>> carmakers announce their 2011 sales numbers today and toyota is hoping to rebound after a tough year. the auto giant could get some help from consumer reports. the publication named the 2012 toyota camry the top family sedan. the camry has been one of the best-selling cars for decades, but it slipped behind several other models last year after the tsunami in japan disrupted toyota's parts supply. >>

. >> ashley morrison in new york. we'll take a quick break. coming up, the monday morning weather forecast. in sport, the nfl playoffs in a stunning finish to a wildcard game in denver. seconds after the start of overtime, it was over. ♪ [ male announcer ] next time, try a subway turkey blt or a fresh fit turkey melt, merely 7 grams of fat each. subway. eat fresh. merely 7 grams of fat each. hey, i'm really glad we took this last minute trip me too. you booked our room right? not yet, thanks for reminding me. wait, what? fret not ma'lady. i have the hotels.com app so we can get a great deal even at the last minute. ah, well played sir. download the free hotels.com app and get exclusive mobile deals. hotels.com. be smart. book smart. to look at the screen and say, "yeah, i can do this." as a software designer, i try to take the complexity out of doing your taxes. we put it in a language you can understand. simple questions like "did you get married?" makes it a little bit more conversational for the customer, easier to answer in the way that

right, ashley? >> yeah. we have to do that. >> ashley morrison here in new york. appreciate it. >>> let's take a quick break. coming up, monday morning weather. blood, sweat and tears during the epic men's final at the australian open. lebron james does some high flying as the heat battle the bulls. ome high flying when the heat battle the bulls. [ female announcer ] discover the power of aveeno positively radiant. with total soy, it's clinically proven to visibly reduce past damage, while broad spectrum spf 30 helps prevent future damage. aveeno positively radiant. nyquil tylenol: we are?ylenol. you know we're kinda like twins. nyquil (stuffy): yeah, we both relieve coughs, sneezing, aches, fevers. tylenol: and i relieve nasal congestion. nyquil (stuffy): overachiever. anncr vo: tylenol cold multi-symptom nighttime relieves nasal congestion... nyquil cold & flu doesn't. you take those little steps of prevention. so if you suffer from heartburn 2 or more days a week, why use temporary treatments when you can prevent the acid that's causing it -- with prevacid 24hr

ashley morrison is here in new york with that and more. good morning, ashley. >> good morning, betty. in overseas trading, tokyo's nikkei slipped a fraction following a loss of video maker nintendo. the hang seng gained nearly half a perts. >>> the dow jones reached above the highest close since 008 financial crisis. the dow is down 22 points while the nasdaq lost 13. >>> today attorney general eric holder reveals details about a fraud fighting unit at the justice department. the task force will focus on investigating bad mortgage deals which were a key trigger of the financial meltdown. president obama announced the formation of the union during his state of the union address. >>> in the speech, the president called on all americans to pay their fair share. but a new report from the irs shows tens of thousands of federal government employees owe more than $3 billion in back taxes. the study found that 36 members of president obama's executive office are on the hook for more than $800,000 and nearly 700 employees of congress owe uncle sam

ashley morrison is here with the latest on that. we definitely need an explanation on what that is. >> you certainly will get one. it is an interesting one. good morning, betty. tokyo's nikkei finished a fraction higher finished a three-day losing strike while hong kong's hang sing gain mder than 1%. investors will get an increase. wall street start odden a flat note. the dow dropped 6 points while the nasdaq dropped 4. 25 of the 27 european nations are signing onto a treaty that imposes strict budget discipline. german chancellor angela merkel led the agreement which calls on member states to adhere to deficit limits and balanced budgets. britain and the czech republic were the only eu members to reject the plan. >>> more trouble for mortgage lender freddie mac. according to report by npr and pro publica. the back lender is spending millions of dollars betting against homeowners. it's suggested that freddie mac is making sure lenders have enough money to loan money but is betting they won't be able to finance their mortgages at low

ashley morrison, i was waiting for a picture of you to pop up. good morning, ash. >> good morning to you, terrell. in overseas trading, the nikkei index edged up half a percent. the hang seng also rose .75%. >>> wall street hopes to continue the strong start to 2012 today. stocks hit a five-month high yesterday. the dow gained nearly 70 points while the nasdaq added close to 26. >>> we'll get two important earnings reports today. grocery store company super value's report could be an indication of where food prices are headed and home builder earnings could give us insight into the state of the housing market. >>> treasury secretary timothy geithner is continuing his visit to chien a he's meeting with the premiere this morning. he's trying to gain support for oil export sanctions against iran. >>> meanwhile, oil from north america could be headed to china. officials from trans canada corps say if the united states does not approve the keystone xl pipeline it will look to sell oil to asian market. president obama has until february 21st to make a

ashley morrison has more. >> settle down, terrell. just monday. a slow day for trading overseas in asia. toke's nikkei finished flat and the hong canning hang seng is closed for the new year. both the dow and the nasdaq gained more than 2% last week. it's the best start of the year for the u.s. stock market in 15 years. >>> the federal reserve kicks off a two-day meeting this week and for the first time the fed will publish quarterly forecasts of where the members see interest rates heading. part of the central bank's plan to be more transparent. >>> gas prices are still on the rise according to the lundberg survey. the average price of a gallon of regular is now $3.39. that's an increase of $3.50 over the last two week. >>> the founders of the company that make blackberry devices are stepping down as co-ceo's. jim balsillie and mike lazaridis resigned from research in motion on sunday. the canadian company has struggled to compete with the iphone and the android devices. research in motion's value has fallen more than $60 billion in the last few

ashley morrison is back with us, too. she has that and more. ashley, good morning. >>> and good morning to you, too, terrell. overseas investors are starting the year with a positive outlook. in asia hong kong's hang seng added more than 2%. trading on japan's nikkei will resume after an extended new year's holiday. today will be the first day of trading on wall street for the new year. on friday the market finished 2011 on a down note. the dow lost 69 points while the nasdaq was off eight. this week we will get new data on the struggling housing market and the government will release the latest jobs report. >>> u.s. carmakers are hoping the new year brings another solid year. the industry will report u.s. sales numbers tomorrow which grew in 2011. analysts are predicting sales will increase this year as well. that's not only good news for the u.s. auto industry, it's good for people looking for work. carmakers are expected to keep adding jobs in the coming year. >>> iran's recent military exercises have pushed the cost of oil up. the price of

in new yorks i'm ashley morrison. >>> that's scary, the bk thing. talk about couch potatoes. >>> distracted walking could be dangerous to your health. a new study shows wearing headphones while walking increases your chances of getting hit by a car. researchers looked at accidents in the last six years. 70% of the injuries were fatal. they say it's different for most people to listen -- or rather, difficult for most people it listen to what's going on in their headsets and monitoring their surroundings at the same time. >> really can't do both of those things at 100%. >> the study shows a third of the distracted walking accidents involved a vehicle blasting some kind of warning such as a horn but obviously, the pedestrian could not hear it. >>> it is 4:57. a big scare in the skies. the frightening message passengers heard in the middle of a flight plus explosive allegations against san francisco's new sheriff. the bombshell claims revealed in new court documents. >>> and it has been described as a battle between old and new media. today many website

ashley morrison is here with more. good morning, ashley. >>> good morning. big gains overseas trading in tokyo added 1% on news of better than expected economic data from china, while hong kong's hang seng jumped more than 3%. trading on wall street took a break monday in observance of martin luther king jr. day. today investors will keep an eye on earnings reports from two big banks. citigroup and wells far fwoe will make their announcements before the opening bell. >>> standard & poor's is downgrading the euro-zone's rating fund. it was cut to a aa plus. if other credit rating agencies cut the fund's credit rating it could deepen the european debt crisis. on friday the s&p downgraded the credit rating of nine european countries. >>> bmw of north america is issuing a recall affecting nearly 89,000 mini coopers. the company says a water pump malfunction in the cars could cause a fire. the recall was issued voluntarily. no accidents or injuries have been reported. bmw will replace the pumps for free. >>> online shoe sellers zappos.com is the last company last

ashley morrison is here in new york with that and more. good morning, ashley. >> good morning. tokyo's nikkei inched up nearly half a percent while hong kong's hang sang also finished higher, more than half a percent. it was another positive day on wall street. the dow jones added close to 33 points to start the week while the nasdaq also finished on the plus side. >>> it's a sign that some people are feeling confident about the future of the economy. according to the federal reserve, consumer debt rose by more than $20 billion in november. that's the largest amount it gained in nearly a decade. the increase in borrowing is due largely to credit card spending and a jump in car loans. >>> a group of farmers is suing failed financial firm mf global. they target the company's ceo jon corzine. mf global filed for bankruptcy last year after more than a billion dollars went missing from client accounts. much of that money belonged to farmers and ranchers who invested in the company. >>> the supreme court will be hearing arguments against tv and radio networks against the fcc. they wa

ashley morrison is here in new york with that and so much more. good morning, ashley. >> good morning to you, betty. >> reporter: asian stocks mixed on thursday. following a flat day on wall street. nikkei lost less than 1% and hong kong hang sang made slight gains. >>> on wall street. it was a mix day. the dow made modest gains adding 21 points, while the nasdaq stayed mostly flat. >>> more economic woes for greece. the prime minister is warning of a march default unless unions agree to accept salary cuts. later this month, representatives from the europe central bank, the international monetary fund and the europe commission will determine if greece will receive another bailout. >>> you won't have to dread april 15th this year. the irs is postponing the deadline to file your income taxes for two days. you will now have until april 17th to get your returns in. april 15th falls on a sunday this year and the following day is a holiday in washington, d.c. >>> the government is taking steps to make sure more kids can find summer jobs this year. presi

ashley morrison is here with that and so much more. good morning, ashley. >>> and good morning to you, betty. in overseas trading, another flat day in asia. tokyo's nikkei rose to a quarter percent while hong kong's hang seng remains closed for the lunar new year. >>> on wall street investors find out apple's first quarter earnings today. it will be their first report since selling the iphone 4s. on monday the dow's four-day winning streak came to an end. it lost 11 points while the nasdaq lost just 2 points. >>> iran is once again threatening to shut down the strait of hormuz, a move that is sending oil prices higher. iran renewed its vow to block oil shipments after european union leaders approved a new round of sanctions. the eu is punishing iran for its newly deming nuclear program. it's closing at nearly $100 a barrel. >>> the five largest mortgage holders in the u.s. are changing the way they're handling foreclosure filings. they will agree to pay $25 billion. that money would be used to lower the principle for about a million tr

ashley morrison has more. >> good morning to you, betty. in overseas trading, market in japan continued to rally. tokyo's nikkei index climbed 1% on positive news if toyota while the hang seng remains closed for a holiday. >>> worries that a deal to keep greece from defaulting set the dow jones down on tuesday. it lost 34 point an the nasdaq gained just two. >>> don't blame apple for the dow's dip. the tech company reported monster earnings thanks in large part to sales of the iphone 4s. profits rose 118%. apple says it sold 37 million iphones in the last quarter of 2011. that accounts for more than half of the company's sales. >>> yahoo is giving its investors more bad news. the internet company's earnings report shows just how much it's trying to keep up with google. earnings were down 5% from a year ago. yahoo recently hired a new ceo and saw one of its founders step aside. >>> today we'll get an earnings report from netflix. the home video provider is expected to report a smaller profit after it went through a tumultuous year. they lost

ashley morrison here in new york with more on that. >> japan's nikkei down 1.56%. hong kong's hang seng off more than 1%. >>> jobs data helped to erase earlier losses. the dow recovered from 134-point loss and ended mostly flat. the two-point loss was the first down day of 2012, while the nasdaq added 21 points. >>> california is facing a $9 billion budget gap and voters will have choose between cuts to education or higher taxes. governor jerry brown unveiled his budget on thursday. he wants to raise taxes on those earning more than $250,000 and boost the state sales tax. if voters reject that plan, the governor will call for an automatic cut of nearly $5 billion from public education. >>> shares of barnes & noble who lost a quarter of their value on thursday, the book seller lowered its profit forecast and says it might separate its nook electronic book business from its store. barnes & noble is facing tough competition in the digital market from amazon's kindle and the ipad. >>> general motors is advising owners of chevy sholt volt to b their cars to the dealer f