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four hours or so. morgan stanley come out with a global note cutting its global growth forecast and saying the u.s., the world is dangerously close to recession quite frankly and naming a couple of different reasons why they think that global growth will not be as strong as they thought. among them, europe's debt problems and also mentioning what they call policy mistakes in the u.s. and also the drama about the debt ceiling. they say, overall, consumer confidence, business confidence, almost this negative feedback loop we are on the verge of people being so worried and not able to b...

hacking scandal. david cameron minutes away from a show down. two major proposals in the trillion dollar showdown over the nations debt. the first is called a possible break through. the second plan is under attack by democrats. all this next on "american morning". thanks for being with us, it's wednesday, july 20th, this "american morning". i'm kiran chetry. >> i'm ali velshi. do we have a lot going on today. british prime minister david cameron is about to get grilled by parliament. the newscorp phone hacking hearing begins in 30 minutes. cameron is expected to face tough quest...

Points to 12,036. the nasdaq and the s&p gained solidly as well. citigroup lost 1.5%, despite the company's announcement of a one for ten reverse stock split and news it would reinstate its dividend. the reverse split lowers the number of shares on the market. the move is men to the bolster citi's lagging stock price. but analysts says it will do little to change the long-term perception of the bank. home sales tumble 9.6%. there's more housing data due out on tuesday when investors receive the latest figures on home prices. that's a wrap of the day on wall street. i'm felicia taylor in new ...

You may be at increased risk of heart attack and stroke. don't kid yourself. talk to your doctor about your risk and about lipitor. looking ahead to the week on wall street, the markets are closed tomorrow for the presidents' day holiday, and then later in the week, we're going to get a read on gross domestic product. it is the sum of all goods and services made in the u.s. and with the economy growing, the government's latest read is expected to be better than earlier estimates. also, we'll get more housing data. we're going to see the latest on sales of newly built homes and previously occ...

Housing data tops the economic agenda. the national association of home builders survey comes out tomorrow followed by housing starts on wednesday and december existing home sales on thursday. overseas this morning, chinese shares were sharply lower after beijing raised reserve requirements for that country's banks on friday. china's currency will be closely watched ahead of the chinese president's visit to washington this week. and, finally, starbucks is adding some new lingo to its lineup. but for those who choose not to learn a new language to order coffee, just call it extra large. begin...