this is "nightly business report" with susie gharib and tom hudson. this program is made possible by contributions to your pbs station from viewers like you. captioning sponsored by wpbt >> susie: good evening everyone. tom hudson is off tonight. a sweeping plan announced today to drastically reduce the nation's enormous deficit. among the recommendations: raising the nation's retirement age to 68 and getting rid of the tax break for home mortgage interest payments. the cuts, suggested by a special commission appointed by president obama, would reduce the deficit by $4 trillion over the next decade. so, how will the proposals impact you? our washington bureau chief darren gersh has been studying the report, and he joins us now. >> susie: darren, this is quite a provocative plan. could it really happen? >> well, provocative is one way to put it. the list provokes just about everybody, doesn't it. i would say it is a serious plan, although the odds of it becoming law right away -- i think we have to say right up front are extremely low. the initial reac

this is "nightly business report" with susie gharib and tom hudson. "nightly business report" is made possible by: this program is made possible by contributions to your pbs station from viewers like you. captioning sponsored by wpbt >> susie: good evening everyone. tom hudson is off tonight. a sweeping plan announced today to drastically reduce the nation's enormous deficit. among the recommendations: raising the nation's retirement age to 68 and getting rid of the tax break for home mortgage interest payments. the cuts, suggested by a special commission appointed by president obama, would reduce the deficit by $4 trillion over the next decade. so, how will the proposals impact you? our washington bureau chief darren gersh has been studying the report, and he joins us now. >> susie: darren, this is quite a provocative plan. could it really happen? >> well, provocative is one way to put it. the list provokes just about everybody, doesn't it. i would say it is a serious plan, although the odds of it becoming law right away -- i think we have to say rig

>> susie: it's the go-go days for gold. the yellow metal is shining at new highs, sitting firmly above $1,400 an ounce. why all the attention? analysts say it's all about demand. >> i don't believe its a bubble. i believe that we've suddenly come upon a new plateau for a new type of investments. >> jeff: gold's not the only commodity surging. silver, soybeans and cotton headed higher too. we'll look at what's behind the surge. you're watching "nightly business report" for tuesday, november 9. this is "nightly business report" with susie gharib and tom hudson. "nightly business report" is made possible by: this program is made possible by contributions to your pbs station from viewers like you. captioning sponsored by wpbt >> susie: good evening everyone. tom hudson is off; jeff yastine joins us tonight. and jeff, it's record time in the markets. not stocks, but gold prices. and silver, platinum, and most other commodities. >> jeff: susie, it's now four days in a row that gold continues to hit new records. today it closed at

i'm tom hudson. >> susie: good night, tom. i'm susie gharib goodnight, everyone. we hope to see all of you again next week. "nightly business report" is made possible by: this program was made possible by contributions to your pbs station from viewers like you. thank you. captioning sponsored by wpbt captioned by media access group at wgbh access.wgbh.org

this is "nightly business report" with susie gharib and tom hudson. "nightly business report" is made possible by: this program is made possible by contributions to your pbs station from viewers like you. thank you. captioning sponsored by wpbtret two-year highs, inching towards $90. experts predict crude could reach $100 a barrel as next year. scott gurvey reports. >> reporter: nymex crude hit a 25-month high in electronic trading early today, then retreated to settle unchanged. but while traders may have decided to lock in some short term gains, experts say the recent oil price gusher is for real. chinese demand is a big reason. the chinese government today reported refineries in that country processed a record volume of oil in october. the chinese thirst for oil has been growing along with its economy. but oil trader ray carbone says there's more to the story than china. >> we have seen china be a big part of the rally back from the lows of march of 2009. but what were seeing now, which has spurred oil to these two year highs, is really some very g

susie, the major market indexes closed at six-month highs today. >> susie: tom, there's a lot of historical data suggesting the period after mid-term elections is positive for stocks, especially when it leads to political gridlock. >> tom: but there is some concern this year's election results might not lead to a windfall for investors. as we continue our coverage "midterm 2010: it's the economy," suzanne pratt gets wall street's take on today's election. >> reporter: in washington, it may be all about elephants and donkeys, but on wall street, there's only one beast that counts. and when it comes to mid-term elections, history shows bulls love gridlock. a scenario in which republicans gain control of at least one house of congress is widely expected. anticipation of that result is also partly responsible for the 11% rally in the dow since the end of august. strategist scott wren is looking for a sell-off if democrats take the house but not the senate. >> that's what the market expected, that's what the market has been pricing in. i think we've got a lot of technical resistance up here at t

you too, susie >> susie: good night tom. i'm susie gharib. we'll see all of you again tomorrow evening. "nightly business report" is made possible by: this program was made possible by contributions to your pbs station from viewers like you. captioning sponsored by wpbt captioned by media access group at wgbh access.wgbh.org >> more information about investing is available in "nightly business report's" video "how wall street works". to order this dvd, call 1-800- play-pbs or visit online at shoppbs.org. >> be more.

good night, everyone, and good night to you, too, susie. >> susie: good night, tom. i'm susie gharib, good night, everyone, and thanks for watching. "nightly business report" is made possible by: pm÷ investing, it comes from navigating up and down markets for 60 years, spotting opportunities at home, and abroad. global investing from franklin templeton investments, gain from our perspective. >> and by exxon mobil. this program this program was made possible by contributions to your pbs station from viewers like you. thank you. captioning sponsored by wpbtl@' captioned by media access group at wgbh access.wgbh.org r to order this dvd, call 1-800- play-pbs or visit online at shoppbs.org. >> be more. pbs.

good night everyone, and good night to you too, susie. >> susie: good night jeff. i'm susie gharib. good night everyone. we hope to see all of you again tomorrow night. "nightly business report" is made possible by: this program was made possible by contributions to your pbs station from viewers like you. captioning sponsored by wpbt captioned by captioned by media access group at wgbh access.wgbh.org >> more information about investing is available in "nightly business report's" video. to order this dvd, call 1-800- play-pbs or visit online at shoppbs.org. >> be more. pbs.

good night everyone, and good night to you too, susie. >> susie: good night tom. i'm susie gharib. good night everyone. we hope to see all of you again tomorrow night. "nightly business report" is made possible by: this program was made possible by contributions to your pbs station from viewers like you. captioning sponsored by wpbt captioned by media access group at wgbh access.wgbh.org >> more information about investing is available in "nightly business report's" video. to order this dvd, call 1-800- play-pbs or visit online at shoppbs.org. >> be more. pbs.

>> you know, i really do, susie. i think that businesspeople until really this week have been very reticent to step out and invest and make a commitments, especially when it requires borrowing additional money because of the uncertainty that they felt from kind of a global perspective but particularly the policies and issues coming out of washington. and so with with the political changes coming this week, with the quantitative easing of the fed, i believe businesspeople are going to be really enthused and actually pretty excited about the changes. and i believe it will give them more confidence to invest in their businesses and that should create jobs and it will overall be very good for the economy. >> susie: have you heard from any of your customers that now that we are have this new day? >> as you know has been a very brief period of time but yes, i have talked it to several. and you know, from small business folks to some large business folks. and actually i heard one very large business c.e.o. say that after th

good night, everyone, and good night to you, too, susie. >> susie: good night, tom. i'm susie gharib, good night, everyone, and thanks for watching. "nightly business report" is made possible by: pm÷ investing, it comes from navigating up and down markets for 60 years, spotting opportunities at home, and abroad. global investing from franklin templeton investments, gain from our perspective. >> and by exxon mobil. this program this program was made possible by contributions to your pbs station from viewers like you. thank you. captioning sponsored by wpbtl@' captioned by media access group at wgbh access.wgbh.org r to order this dvd, call 1-800- play-pbs or visit online at shoppbs.org. >> be more.

i wrote about seth in my book, and i wrote about susie buffet in my book because we had a discussion in des moines, iowa one night and seeing omaha for her backyard so all the money in her foundation is spent in ohm ha whatever the problem is whether it's a library or a teenage girl is getting pregnant. >> how? >> actually, -- her idea is to do it beforehand by giving the money to go to the mall if they don't get pregnant which is very practical and not likely to produce a congressional leer mark; right? >> right. >> so, seth to susie, the idea of where we are in life, whether we're out of work or have billions of dollars, it's the time right now in our nation's history despite the airplane going over head to step it up, to step up to the plate and do our part, so i want seth to say thing and thank dylan for putting seth on the show a couple weeks ago, and then i talked about seth being on the book tour, so now he's been innone dated with requests from other cities to actually have them start branches there, and the bottom line about that is instead of us focuses on our deficits and

so, seth from south to susie the idea of where we are, whether we are out of work or whether we have trillions of dollars, is the time right now in our nations history, despite the airplane going overhead, to start it up, to step up to the plate and do our part. so, i want sad to say something. i want to thank dylan for putting on the shelf a couple of weeks ago. and i talk about that they've been on this book to work and jon stewart and bill marr. tonight he has been inundated with requests to actually help them start branches they are. in the bottom line about that is that instead of focusing on the deficits and our shortages, we can also start focusing on our sacrifices and what we have in abundance, an abundance of time an abundance of skills we are not using and an abundance of resources. and in fact, we've started a not-for-profit right here that we can raise money to help them build an infrastructure to help him help others start for the started. and the idea is little by little, well for fighting the political battle about the role of government, about what we need to do to c

>> susie: the nation's unemployment rate remains stuck at 9.6%. how much longer will americans have to deal with economic pain? >> i think it will be a number of years. i think this is a long, slow climb out of a very deep hole that we've gotten ourselves into. >> tom: that's the sober outlook from a veteran fed decision maker. our exclusive interview with former federal reserve vice chairman donald kohn, coming up. you're watching nightly business report for friday, november 5. this is "nightly business report" with susie gharib and tom hudson. "nightly business report" is made possible by: ning sponst >> susie: good evening everyone. some signs of life in the job market. american businesses were hiring last month. there are still many people out of work. the pick up in hiring was much bigger than analysts expected: the labor department said non- farm payrolls rose by 151,000 jobs in october. but the pace of job growth is not strong enough to bring unemployment down. it remains stuck at 9.6%. president obama calls the jobless rate quote, unaccept

the thing that was interesting is susie buffet felt the same way. it has nothing to do with anything but the decision to get outside yourself. with that said do you want to do some cards here? you can raise your hand if you really like your idea. what is that? >> that it we have prizes if kerri anna really like your idea. teaching a skilled -- >> who is going to do that? even if it wasn't your idea. >> i have an hand? >> where are you? where are you? it is godzilla. come and claim it. >> i like this idea but i worry about -- >> running a library? >> what about the internet? >> libraries are still here in the time of the internet. >> what do you do with the library? >> you get people who don't have individual -- they're gathering place. >> a source of the community volunteers to young boys who don't have dads, extremely susceptible to lives of crime. >> where is susanna? thank you. the palo awaits you. we are going to leave it at that. >> enjoy your evening. thank you very much. >> we have one surprise and it is not the helicopter. i am sure he reall

at the other end, i wrote about susie buffett in my book. she and i have had a deep conversation over a dinner in des moines, iowa of all places, when she says omaha is her backyard. all of the money is being spent in omaha. the library is closing, a child -- teenage girl is getting pregnant. she's there to help. >> how does she help in that way? >> actually her idea -- >> after she's pregnant? >> her idea is to try to give it beforehand to give her money to go to the mall so she doesn't get pregnant. which is not likely to produce a congressional earmark; right? >> not without a lobbyist. >> so seth -- from seth to susie, the idea that whatever we are in life, whether we are out of work, or billions of dollars, it's the time right now in our nation's history, despite the plane going overhead, to step it up. to step up to the plate and do our part. so i want seth to say something. i want to thank dylan for putting seth on the show a couple of weeks ago. then i talked about seth being on the book tour. jon stewart, now he's been inundated wit

>> susie: the nation's unemployment rate remains stuck at 9.6%. how much longer will americans have to deal with economic pain? >> i think it will be a number of years. i think this is a long, slow climb out of a very deep hole that we've gotten ourselves into. >> tom: that's the sober outlook from a veteran fed decision maker. our exclusive interview with former federal reserve vice chairman donald kohn, coming up. you're watching nightly business report for friday, november 5. this is "nightly businininininn "nightly business report" is made possible by: this program is made possible by contributions to your pbs station from viewers like you. thank you. captioning sponsored by wpbt >> susie: good evening everyone. some signs of life in the job market. american businesses were hiring last month. there are still many people out of work. the pick up in hiring was much bigger than analysts expected: the labor department said non- farm payrolls rose by 151,000 jobs in october. but the pace of job growth is not strong enough to bring unemployment down

my colleague susie gharib is off tonight. the holiday shopping season kicked off with a mad rush into stores around the country. today is known as black friday-- the time of year retailers hopefully move into the black, turning a profit. hopes are high this holiday season. the national retail federation predicts a 2.3% increase in sales in november and december much better than last year. other forecasts call for even stronger gains. as suzanne pratt reports, black friday could be the gift retailers are looking for. >> you can not enter here, go to the left or the right or keep the traffic moving. >> reporter: it's beginning to look a lot like christmas. from the massive crowds at macy's in herald square to the long lines at this best buy in california, retailers are ready for what could be the strongest yuletide season in four years. macy's c.e.o. terry lundgren says black friday is still a great way to gauge shoppers' pocketbooks. >> it's not just a kickoff to the season, but it is in fact the largest day of the year when i

my colleague susie gharib is off tonight. as the nation prepares to go shopping this weekend, investors were buying up stocks. the dow popped 150 points higher, wiping out yesterday's losses. while shopping on the day after thanksgiving has become almost as much a tradition as eating turkey leftovers, this year both retailers and shoppers have a new game plan for black friday. erika miller reports. >> reporter: 'tis the season for decking the malls. not just with seasonal decor, but also with sales signs. this gap at a mall in new york city plans to open at midnight on black friday. district manager benny paulino says everything will be half price until 10 a.m. >> i think we're expecting a little more traffic than the previous years. i think we haven't been as promotionally driven in the past as we are this year. >> reporter: but many of the best deals will not be at the mall this year. they'll be online. retail analyst roxanne meyer says stores are using social media like facebook and twitter to drive traffic to their sites.

. >> "harry potter" a fan's showing up in costume last night susie "the deathly hallows: part 1" and many were there four hours to be the first inside. >> we were year 24 hours. >> sandra bullock. >> they are grabbing three generations in my family that enjoyed the books and movies. >> arch campbell gives its four stars. we will cellule haldeman does in its opening weekend at the box office. something tells me it's going to do very well. we've just wanted to share with you, i had a wonderful opportunity yesterday to spend time with military wives at fort myers. i want to thank them for their service and their sacrifices. thanks for having me. >> you have been very busy. >> it was fun. >> a quick a look at the forecast. partly cloudy, temperatures in the 50's this weekend. 64 degrees by tuesday with brain iacocca middle of next week -- with rain showers possible wednesday, for holiday travel. with rain showers possible wednesday, for holiday travel. >> thanks for ♪golden morning family's smiling♪ ♪gonna be a special day anncr: for the perfect start to the perfect day, i always c

. >> susie hall, good girl. >> reporter: during his therapy sessions with susie, a standard bred horse, the 10-year-old gets to relax, find calmer ways to communicate and have fun. >> he's learning so much. he rides on his own now and i'm just very proud of him. >> reporter: wild horses is a 4-year-old program that uses horses as a therapeutic tool for mentally and physically challenged children and adults. they develop everything from social skills to increased core strength for better mobility. carrie ann one suffered from sigh at ka. a similar program helped her walk again. >> i will never being in that wheelchair and the terrible fear that i would not be able to get out of it. >> reporter: owen says the program operated out of this ranch in livermore until recently when owners asked wild horses to leave. she says they regretfully gave the program the boot after others complained about the ongoing traffic from their participants cars disturbing the ranch's peaceful setting. owens says the impact has been devastating. >> when a disabled child finds a place they can call home, it is b

this is "nightly business report" with susie gharib and tom hudson. "nightly business report" is made possible by: this program is made possible by contributions to your pbs station from viewers like you. thank you. captioning sponsored by wpbt >> tom: good evening and thanks for joining us. general motors is once again a publicly traded company, suzanne. the century-old auto maker has been on a long road to rebirth, ending today with its return to the new york stock exchange. >> suzanne: tom, that return to the nyse was one for the record books as g.m. became the biggest initial public offering ever. g.m. shares opened at $35 and hit an intra-day high of $35.98, before backing down a bit to close at $34.19. but that's still up from the i.p.o. price of $33 per share. the auto maker sold 478 million shares, raising $23.1 billion. today's sale cuts uncle sam's stake in g.m. to 37%. that could drop even further if over-allotments and warrants are exercised. now that its public again, what could be next for g.m. stock? david menlow of i.p.o. financial thi

so forget coupon susie. now there is coupon mary jane so to speak. [ laughter ] >> reporter: i'm not even going to respond. [ laughter ] >> thuy vu, thank you. sorry to do that to you. >>> other news tonight a homecoming for president obama in indonesia today the second country on his asian tour. he spent four years in indonesia as a child when his late mother moved there back in the 1960s. today he accepted the indo indonesian medal of honor for her but today's indonesia a much different place than the one he knew as a child. it's now the largest economy in southeast asia and mr. obama took note of that. >> much has been made of the fact that this marks my return to where i lived as a young boy. i will tell you, though, that i barely recognize it. >> the president's visit is intended to boost trade with indonesia and build better relations with muslims. there were anti-u.s. demonstrations as you see. protestors denouncing what they call america's ongoing war against islam. >>> next, not exactly the relaxing