the dow finished up thursday, 340 points. this could be the best october in a quarter century. the economy is growing. the gross national product for the third quarter was nearly double the figure from april to june and that s thanks to consumer spending and more business investment. alison kosik will join us in about half an hour for the opening bell, but right now let s talk to global editor at large with reuters. good morning. so, what a difference a day makes. the dow futures are already down this morning and we ve learned that whirlpool is cutting 5,000 jobs in north america and europe. it looks like that big rally from yesterday was not the real turn around we were hoping for. well, i think the rally yesterday was really mostly about europe. and i think the big question that the markets are asking is not so much is everyone going to be fantastic. is there going to be a huge economic rebound in the u.s. and in the world. the question is, is there going to be another di
ripples of relief spread from europe across the world market. a deal has been reached to tackle the e.u. financial crisis. european leaders have agreed to expand the e.u. bailout fund while private sectors will take a 50% loss on greek bonds. the european agreement translated into a huge day for u.s. stocks. let s go to alison kosik at the new york stock exchange. the closing bell just rang. how did stocks finish? we don t know the final number, but we know it s very positive. it is. the numbers are settling. we re seeing the dow up 340 points. the nasdaq s&p up more than 300%. the bulls busted out of the opening bell and never looked back. this is what investors have been waiting for. these debt problems plaguing greece. and besides plugging greece s debt hole, this plans to safeguard against future shocks. it s a step forwards in instilling stability in the marketplace. being there is such a powerful positive reaction, do investors see this as a done deal? is this crisi
i m erin burnett. outfront, count down to another downgrade of america? the super committee held a rare public hearing today. they re the group of 12 charged with cutting the deficit by at least $1.2 trillion. if they don t do it, we can end up on a rate to higher interest rates and a lower standard of living. here are the dates we need to watch. november 1st, cbo says the super committee must submit their plan for review. that is five days from now. november 23rd, that is the deadline for the final submission. and then december 23rd, the final deadline when congress must up or down vote that plan. the committee must come to an agreement, and congress has to pass it or automatic across the board cuts will be made, half of them coming from our defense budget. the problem is those cuts don t come until 2013. they are too small to prevent more downgrades. yes, thanks to congress, america s economic standing in the world is on the verge of another downgrade. economist ethan har
but just in right now, new poll numbers painting a very telling picture of the race for the republican presidential nomination. we can now report that mitt romney is the candidate to beat in at least two of the crucial first four voting contests of the 2012 election with herman cain a sometimes close, sometimes distant second. our new cnn time orc poll of republican voters just released shows romney on top in iowa s january 3rd caucuses, leading herman cain by three points, but that s well within the sampling error of plus or mines. in new hampshire, romney has a lead over cain. in south carolina, a two-point edge for romney, again, within the margin of error. in florida, it s romney 30% to cain s 18%. before the polls came out, romney made it clear he s setting his sights very high. i think the greatest threat to my success would be president obama and i m planning on beating him soon. let s talk about these new poll numbers with our chief political correspondent, the
the one he touted at the time was a model for the national health care plan. what governor romney s former presidential rival called obamany care for its similarities to the governor s law. governor romney has been running away from his critics as fast as he can, saying it should no longer be held up as a model. it s another little known piece of his law that s giving him the biggest headache today, one that says any residents of massachusetts is entitled if they need it, to state subsid e subsidized health care, regardless of their immigration status. mitt romney is the one who tore into texas governor rick perry s statewide program to educate young people, even illegal immigrants. you talk about magnets. you put in place a magnet to draw illegals to this state which was giving $100,000 in tuition credit to illegals that come to this country, then you have the big states of illegal immigrants are california and florida. over the last ten years they ve had no increase i