CNN news 2011-08-09
Checking top stories now.Meat process Cargill is recalling 36 million pounds of ground turkey.It’s been linked to dozens of salmonella illness in 26 states.And authorities believed it may also be related to one death in California.
New York mayor Michael Bloomberg‘s putting up to 30 million dollars in his own money to fund a new program.He wants to improve economic educational opportunities for young black and Latino males in the city.
“Happy Birthday to you!.....”
Yes, that’s Chicago native Jennifer Hudson singing Happy Birthday to the president.He turned 50 today. He attended an early birthday celebration last night in Chicago,going to the two campaign fund raisers right after that.
Alison Coss in New York starts to change with the trading day,just getting started.
Alison, what do you think? What can we expect today? I guess I have asked you that every day, don’t I? Especially in this time when we are watching those numbers.
And we really are.And you know what,it looks like yesterday’s gains, they’re just a rise for watching stocks drop right now. The Dow down 72 point.Hey, but let’s look on the bright side,the blue chip did manage to snap a session losing street on Wednesday, ever so briefly.You know what,investors,they continued to worry about where the economy would head. And there is a new concern about how serious your economy problems are right now. Back here in home, weekly jobless claims is down by just 1000 from 400,000. It is better than expected.But you know what, still nothing to right home about. I do have one good piece of news though, General Motors earnings.The automakers posted a big jump by its quarterly sales and profit.GM is saying it is solidly improving this year,Kyra.
You know, we’ve talked about thisyesterday. And I’m curious after watching the market, you know, the way it ended up at the end of the day. Let’s talk about the possibility of another recession, you know, you’ve mentioned it. What’s the reaction by the end of the day?
You know, traders and economists,they are continuing to be increasingly worried, you know, just in the past week or two, I’m hearing this whispers get louder about this Dow world again. Evenwe saw an odd piece by Larry Summer, she was the Treasury Secretary of President Clinton, and the first director of National Economy Counselor of President Obama. She said there is one of three chances of a new recession. And you know what, all of these talks, is stirring up more talks of the Fed possibly stepping in with another stimulus package to boost the economy. And that charter here is the reason we saw markets ended a bit higher yesterday. Still,even though,all of these odds for a recession are increasing. Many people are still saying it is unlikely a second recession would actually happen. But what we really need to see is an economic data improve before everybody is absolutely certain of that,Kyra.
All right, Alison Coss, at the New York Stork exchange. Alison, thanks.
Well, congress is on a summer break.And they're getting a lot flat form too.Why? They left town without funding the Federal Aviation Administration.So now,4000 FAA workers are facing a month or more without a paycheck.And tens of thousands of private workers are also cut off. Because airport construction project had to be shut down.
"We’re just like anybody else, we’re just trying to go to work and get a paycheck,have a good job and get our medical benefits back.”
"Put people before politics.Let's get American back to work now.And let’s start right here on this project”