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at least for the moment. stocks bounced back in early trading today, after monday's 634-point plunge. right now, dow blue chips are up by 201 points. investors are psyched over today's fed meeting, and there's speculation it might announce a new stimulus. to boost the economy. president obama sits down with treasury secretary timothy geithner. that's happening this afternoon. they're going to size out the new market turmoil that is fearing -- that is fully feeding fear of double-dip recession. the president is promising to help a special congressional commission find a long-term fi...

progress. democratic senate leader harry reid and republican senate leader mitch mcconnell on the senate floor moments ago. look. >> today the speaker republican leader held a press conference to announce they're in talks with the president and that a bargain to raise the debt ceiling is in the works and is close. in president, members of the senate, that's not true. i just spent two hours with the president, vice president, and leader pelosi, and it's fair for me to say that the engagement there is not in any meaningful way. the speaker, republican leader should know that merely say...

allow the president to raise a debt ceiling and avert crisis. a vote on that could happen this week. the fallback plan would likely pass the democrat-controlled senate but face a bigger challenge in the house where republicans hold the majority. let's get the latest with brianna keilar. are we any closer to a deal? >> on a deficit reduction plan, kyra, it doesn't appear so. no announced meetings between the white house and congressional leaders over the weekend, there were staff-level meetings and a lot of focus has to do with this fallback plan you mentioned. it's sort of the brainc...

I ate breakfast and got heartburn, third day this week. so i took my heartburn pill and some antacids. we're having mexican tonight, so another pill then? unless we eat later, then pill later? if i get a snack now, pill now? skip the snack, pill later... late dinner, pill now? aghh i've got heartburn in my head. [ male announcer ] stop the madness. take prilosec otc for frequent heartburn. one pill a day. twenty-four hours. zero heartburn. no heartburn in the first place. great. [ male announcer ] use as directed for 14 days.

development of alternative fuels. his warning to arab oil producer comes amid a chilling prediction. goldman sachs says gas will reach $5 a gallon this summer. and remembering the sacrifice s at arlington nationl cemetery. this morning, president obama takes part in ceremonies there, including a wreath-laying ceremony at the tomb of the unknowns. let's talk politics now. presidential candidates, those who have declared, and those likely to, are reaching out to voters on this memorial day. oh, yeah, sarah palin is using the holiday to kick off her nationwide bus tour. she rode int...