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Term cabinet. a lot of smiles. but they did quickly get down to business. $85 billion in forced spending cuts they are now kicking in. here is the president. >> we're going to be spending some time talking about the potential impact of the sequester on all the action ag and missions across the board. it is an area of deep concern. i think everybody knows where i stand on this issue. we are going to manage it as best we can to try to minimize the impacts on american families, but it is not the right way for us to go about deficit reduction. >> homeland security is reporting longer lines at seve...

At how wall street will kick off the day. the dow opens at 12,268 after dipping five points yesterday. the s&p inched up 3 points. the nasdaq rose 7. taking a look at overseas trading this morning, in tokyo, the nikkei add 21 points, but in hong kong, the hang seng lost 221. investors will get updated january retail data this morning, a day after one of the nation's biggest retailers dragged down the dow. walmart shares slipped monday after jpmorgan lowered its outlook for the retail chain predicting customers will turn to more expensive stores as the economy improves. in china, consumer pri...

On the campaign trail, mitt romney worked to rev up the crowd to his native michigan. >> i love the auto industry. i want to see it thrive and grow. i'm glad it went through a bankruptcy process which i recommended from the beginning. >> meanwhile, rick santorum kept the heat on the president. >> this is a president who is suffocating this economy. this is a president who doesn't care about you. >> reporter: there are signs companies are starting to hire again. in the past week, jobless claims fell to their lowest in nearly four years. economists point to stronger retail and auto sales along w...