Reuters - Video

Edition: U.S. | U.K. | IN | CN

Top News

Wall St. up but Washington wary

Friday, November 09, 2012 - 01:47

Nov 9 - Summary of business headlines: Wall Street rises and falls as President Obama discusses the fiscal cliff; U.S. consumer sentiment hits five-year high; J.C. Penney continues to struggle with turnaround. Conway G. Gittens reports.

▲ Hide Transcript

View Transcript

Wall Street barely snaps a nasty two-day fall.. All three major market gauges ending slightly to the upside in a volatile session. The Dow is down three consecutive weeks and the Nasdaq is down five. Friday's fickleness blamed on Washington. President Obama took to the airwaves to announce he invited leaders from both political parties to a meeting next week to discuss ways to avoid the $600 billion fiscal cliff. But that did not inspire confidence in Ben Willis of Albert Fried & Co. SOUNDBITE: BEN WILLIS, MANAGING DIRECTOR, ALBERT FRIED (PRONOUNCED FREED) & CO. (ENGLISH) SAYING: "Personally, I would love to see a media blackout from every congressman, senator, and the President of the United States until they come and say 'by the way, you guys we have an announcement to make, turn on your cameras and we are going to tell you how we settled it,' until then don't put them on air because the markets hate it, it's not fair to the United States, it's not fair to our credit ratings, it's not fair to what it does around the world." Aside from politics, consumer sentiment reached a five-year high in early November, according to a survey by Thomson Reuters and the University of Michigan. And Priceline - the name-your-price travel website is buying Kayak Software in a $1.8 billion deal. Kayak, an aggregator of travel websites, is attractive because of its strength in the mobile travel app market. Shares of Priceline were down slightly on fear the company will scare away other Kayak clients like Orbitz and Expedia, but shares of Kayak closed at their highest point since going public in July. J.C. Penney still struggling with its turnaround plan. The department store retailer saw its biggest drop in same-store sales since CEO Ron Johnson revealed a radical transformation plan, although there was sign of success. On to Europe now, where markets were mixed as investors wait for what happens next in Greece.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Wall St. up but Washington wary

Friday, November 09, 2012 - 01:47

Top News »

Editors' Picks »

Business »

Moving Pictures »

Images of December Images of December

Tue, 23 Dec, 2014 - (0:30)

Tsunami - unclaimed possessions Tsunami - unclaimed possessions

Tue, 23 Dec, 2014 - (2:23)

Images of November Images of November

Tue, 02 Dec, 2014 - (0:30)

Images of October Images of October

Mon, 03 Nov, 2014 - (0:57)

The world in a city The world in a city

Fri, 31 Oct, 2014 - (1:30)

Real-life superheroes Real-life superheroes

Tue, 28 Oct, 2014 - (1:44)

Dance of the northern lights Dance of the northern lights

Mon, 20 Oct, 2014 - (1:08)

Images of September Images of September

Thu, 02 Oct, 2014 - (1:00)

Still missing – MH370 Still missing – MH370

Fri, 05 Sep, 2014 - (2:05)

Burning Together Burning Together

Mon, 01 Sep, 2014 - (2:23)

Oddly Enough »

Brazil promotes safe-sex ahead of carnival Brazil promotes safe-sex ahead of carnival

Thu, 29 Jan, 2015 - (1:28)

Red pandas frolic in the snow Red pandas frolic in the snow

Tue, 27 Jan, 2015 - (1:31)

Sheep herded to create Australian flag Sheep herded to create Australian flag

Tue, 27 Jan, 2015 - (0:37)

Thailand beach road becomes bed race track Thailand beach road becomes bed race track

Mon, 26 Jan, 2015 - (0:58)

Rhino born at Copenhagen Zoo Rhino born at Copenhagen Zoo

Mon, 26 Jan, 2015 - (0:46)

Robots dance in mass-games fashion Robots dance in mass-games fashion

Wed, 21 Jan, 2015 - (1:30)

India has most of the world's tigers India has most of the world's tigers

Wed, 21 Jan, 2015 - (1:22)

Sports And Leisure »

Mourinho's "Let's go to Wembley" Mourinho's "Let's go to Wembley"

Wed, 28 Jan, 2015 - (1:16)

Diver Daley trains in Rio Diver Daley trains in Rio

Tue, 27 Jan, 2015 - (0:55)

Drogba on his Chelsea hopes Drogba on his Chelsea hopes

Mon, 26 Jan, 2015 - (0:52)

NBA legend shoots from the hip NBA legend shoots from the hip

Wed, 14 Jan, 2015 - (1:13)

Tennis ace Murray proposes to girlfriend Tennis ace Murray proposes to girlfriend

Thu, 27 Nov, 2014 - (0:41)

Sports Spread: Tinkering Liverpool target Chelsea Sports Spread: Tinkering Liverpool target...

Thu, 06 Nov, 2014 - (11:18)

Flying car prototype takes to the skies Flying car prototype takes to the skies

Wed, 29 Oct, 2014 - (2:18)

Dateline Asia »

iPhone grabs top spot in China iPhone grabs top spot in China

Wed, 28 Jan, 2015 - (1:40)

Robot replacements for Foxconn's workers Robot replacements for Foxconn's workers

Wed, 28 Jan, 2015 - (1:12)

Alibaba could set sights on Yahoo Alibaba could set sights on Yahoo

Tue, 27 Jan, 2015 - (1:24)

Fashion designers finding haste makes waste Fashion designers finding haste makes waste

Tue, 27 Jan, 2015 - (2:07)

Be afraid, the Chinese are spending less Be afraid, the Chinese are spending less

Mon, 26 Jan, 2015 - (1:33)

Asia markets shrug at Greek elections Asia markets shrug at Greek elections

Mon, 26 Jan, 2015 - (1:36)

Asia markets toast ECB stimulus Asia markets toast ECB stimulus

Fri, 23 Jan, 2015 - (1:42)

Asia Week Ahead: Markets await Greece vote Asia Week Ahead: Markets await Greece vote

Fri, 23 Jan, 2015 - (1:18)

Netflix to push play in China Netflix to push play in China

Thu, 22 Jan, 2015 - (1:41)

Japan in a tight spot over hostage crisis Japan in a tight spot over hostage crisis

Thu, 22 Jan, 2015 - (1:05)

Reuters Investigates »

Where the sea is closing in Where the sea is closing in

Thu, 20 Nov, 2014 - (3:41)

Re-homing victim: "I could have been dead" Re-homing victim: "I could have been dead"

Wed, 19 Feb, 2014 - (8:24)

Cops and loggers in the Amazon rainforest Cops and loggers in the Amazon rainforest

Fri, 10 Jan, 2014 - (4:01)

"Passed around like a dog" "Passed around like a dog"

Thu, 29 Aug, 2013 - (6:32)

Adopted, then abandoned online Adopted, then abandoned online

Thu, 29 Aug, 2013 - (13:22)

How the DEA keeps its secrets secret How the DEA keeps its secrets secret

Mon, 05 Aug, 2013 - (1:36)