Interview: Iran
>> european nations are considering offering iran a light water nuclear reactor. michelle makori has the latest news.
>> that is right. it is designed to persuade teheran to give up the uranium enrichment program. france, britain, and germany want to make it part of a possible package to be presented on friday to u.n. security council member. a u.s. official says washington would likely oppose the plan. earlier today they warned the e.u. not to repeat what it calls an insulting offer made in august that provided incentives such as trade ties and technology to iran in exchange for scrapping the program.
>> the bush administration is working to sell the president’s immigration plans to the country and to congress. president bush is calling for tough immigration reform with a pass for illegal immigrants to work thwart citizenship. and this morning the president dispatched the homeland security secretary to talk about it with bloomberg.
>> you have to come up with a temporary worker program so that the large majority of the the legal migrants who want to come work can do so in a way that’s regulated and doesn’t result in a lot of pressure on the border it.
>> but democrats maintain that the president is proposing a military solution to a political problem. meantime, the crash of a van packed with illegal immigrants has killed at least two people. it happened last night on a highway in the southern california desert. while the man was being followed by the border control. a in other news, the worst rain in more than 70 years has fallen across new england and there’s more to come. the merrimac river is overflowing and to this neighborhood in lowell, massachusetts. and in florida, the opposite problem a lack of rain has caused raging wildfires closing a five-mile stretch of i 95 in the central part of the state. and the national weather service is predicting good news. much-needed rain for florida by the end of the day. finally, customer service this year at u.s. airlines is the worst in five years. a university of michigan index finds that nearly ¼ of all flight were delayed. the airlines blame high fuel prices in part.
>> still ahead, everybody, airbus planning to spend $10 billion to compete with boeing. we will take you live to lon door.
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Listen Market briefing--Suzy (fast)
>> the dow, the s&p this morning are seeing modest gain and the nasdaq is really unchange at this point. here is a look at what’s going on in the treasury market . they are seeing a bid that the economic data showed weaker than anticipated numbers with the expect thation that the fed may pause at the next meeting. it’s coming down to 5.12% on the 10 and the two is at 4.95% if dollar is also taking a little bit of a hit because of the weaker data, so dollar yen, the euro, and the british pound are all down about .4%. the dollar is down against those current sis. as for the price of gold, it is gaining this morning as the dollar goes down. trading right now in the futured market is down about .8% for gold. crude is turning lower continuing a two-day decline. the latest trade we’ve got on the price of crude, if we can bring that up and show you, it is down to $69.15. we have su keenan at the new york mercantile exchange to give us a little more on the session.
>> well, suzy, it is steepening up to a real battle between the bulls and the bears after yesterday’s steep sell off. we did have the rebound this morning, but now appear to be sliding downward. one analyst said yesterday, simply put, not a good day for the bull. how bad was it? take a look at the way crude has traded for the past month. while the trend has been higher, yesterday’s more than $2.50% drop the biggest drop of the year so far. take a look at gasoline. another upward trend. if you look at the 30-day chart, and yesterday’s almost 6% drop, you have to go back to october to find a single one-day
