Its a tale of two stories on wall street. The bulls betting on Morgan Stanley and the bears working to take down the mother of all chipmakers. Good afternoon everybody. Im liz claman. It is the last hour of trading on this friday. Countdown to the closing bell begins right now. Financial biggie Morgan Stanley having its best day in 7 month ts. Jumping 1. 66 in blowout quarter. Revenue smashing estimates. One of wall streets heaviest hitters the guy running the show Morgan Stanley chairman and Ceo James Gorman in the house gearing up for his oneonone interview with charlie gasparino. Thats coming up in just a few minutes. You dont want to miss that one. I dont care who else interviews james gorman, it is charlie. He is the guy you want to hear interview jim gorman. You have intel, the biggest drag on the dow jones. Shares are dropping by nearly 7 . Quite an interesting story here. Q4 earnings per share topped analyst estimates margins improved but investors headed for the exit once inte
Three people one of whom may be a shooter in the hospital right now and a search is under way for another person of interest, another potential shooter. Our coverage is going to continue right now with wolf blitzer in the situation room. Wolf . Anderson, thanks very much. Happening now, breaking news. Were getting new details about a shooting on that Community College campus in texas. At least three people have been wounded and a suspect may still be at large. Also, todays blistering reaction to president obamas inaugural address. Republicans are warning, if the president gets his way, the era of big lib better ralism is back. And Vice President joe biden talks about the possibility of tajing on Hillary Clinton in the 2016 president ial race. A and it sounded beautiful but was it live . Controversy over beyonces rendition of the National Anthem. Im wolf blitzer. Youre in the situation room. And the breaking news continues here in cnn. Were covering the countrys latest multiple shooting
And new guidelines on Cyber Security. Well get to jack lews confirmation in a moment. First the cbo director Douglas Elmendorf testimony. He warned of the sequester could cost 750,000 jobs. Could you tell me in terms of the negative Economic Impact of the sequester, the. 6 , what does that translate in point of lost jobs . Our estimate is that the sequester alone would reduce gdp growth this year by zero point six percentage points. It would lower that gdp at the end of the year. We think that would reduce by about 750,000 jobs. 750,000 jobs between now and the end of 2013, right . Right. That is a whole lot of jobs. We should be working overtime to prevent that kind of job loss. If you were to replace the deficit reduction through that austerity program, the cuts to the sequester with a plan that accomplishes the same amount of deficit reduction spread over the 10 year period, you would not have that hit on jobs . Right. Our analysis, the republican leader, mr. Cantor had it right las
Regardless of their political persuasion, most Americans agree that Social Security should be protected in the face of a looming funding shortfall. That's not the case in Congress, however. The.
Guest columnist Al Norman: Another Social Security death panel gazettenet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gazettenet.com Daily Mail and Mail on Sunday newspapers.