July 23, 2009
Posted: 1809 GMT
The easiest – though not always the most accurate – way to determine whether there is a sense the economy is rebounding, is to track the movements of a major stock market index.
Today, the Dow Jones burst throught the 9,000 mark and will most probably close at an eight-month high. It's a psychological barrier and, once broken, gives us clues as to whether investors believe the global economy is bottoming out.
Of course, on the road to recovery, there are ups and downs. A few weeks ago, there was optimism too, but it was soon folllowed by another sell-off. Today, however, encouraging earnings reports and not too shabby economic indicators are giving investors new reasons to buy back into the market.
After several blue chip companies surprised the market with better than expected earnings, some even raising their full-year forecasts, a real estate group is now saying that month-on-month sales of previously occupied homes rose more than expected in June.
We will go live to the New York Stock Exchange for more on the Dow's jump with Susan Lisovicz. Don't forget to vote in our poll today: "Do you think the global economy is bottoming out?" We will compare today's results with a May 5th idesk poll and see if you are more or less optimistic on the economy going forward.
Also today, we'll speak with Jill Dougherty about the heated rhetoric between the United States and North Korea. The back-and-forth is starting to sound downright childish: two days after the US secretary of State said the North Koreans were acting like "unruly teenagers," Pyonyang fired back saying Clinton "sometimes looks like a primary schoolgirl and sometimes like a pensioner going shopping."
Where will the war of words go next?
Plus we'll look at reports that one of Osama Bin Laden's sons may have been killed by a U.S. airstrike earlier this year. The information comes from an American counter-terrorism official quoted in reports. Nic Robertson will bring us the latest on that story.
We will again go to Honduras, for the latest on the soap opera drama playing out between deposed Honduran president Mauel Zelaya and the military backed government that through him out of the country. Talks to resolve the crisis have failed. Zelaya is pledging to return to Honduras today even though his opponents have said they will not allow him in. Karl Penhaul has the latest on the story.
That, and the rest of the day's top stories as always.
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