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Nightly Business Report - Wednesday June 12

Nightly Business Report - Wednesday June 12

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Tonight on Nightly Business Report, are the world’s biggest economics undergoing a major shift that could impact your investments? NBR will look at everything from stocks to bonds and commodities.
And, are the cards stacked against the little guy? We’ll tell you why some traders have access to a closely watched, market moving consumer confidence number before it’s released to the public and individual investors.
Tonight on Nightly Business Report, are the world’s biggest economics undergoing a major shift that could impact your investments? NBR will look at everything from stocks to bonds and commodities.
And, are the cards stacked against the little guy? We’ll tell you why some traders have access to a closely watched, market moving consumer confidence number before it’s released to the public and individual investors.

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Published by: Nightly Business Report by CNBC on Jun 13, 2013
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09/30/2013

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<Show: NIGHTLY BUSINESS REPORT><Date: June 12, 2013><Time: 18:30:00><Tran: 061201cb.118><Type: SHOW><Head: NIGHTLY BUSINESS REPORT for June 12, 2013, PBS><Sect: News; International><Byline: Susie Gharib, Tyler Mathisen, Eamon Javers, Jon Fortt, Hampton Pearson, PhilLeBeau><Guest: Ira Jersey, David Kelly><Spec: Business; Economy; Stock Markets; World Affairs; Thomson Reuters (NYSE:TRI);Consumers; Trade; Policies; AAA; Automotive Industry;Transportation><Time: 18:30:00>ANNOUNCER: This is NIGHTLY BUSINESS REPORT with Tyler Mathisen andSusie Gharib, brought to you by --(COMMERCIAL AD)SUSIE GHARIB, NIGHTLY BUSINESS REPORT ANCHOR: A tsunami of changefrom New York to Tokyo. And across the globe, the world`s biggest market seems to beundergoing a major shift that could impact everything you own -- from stocks, to bonds and commodities.
 
 TYLER MATHISEN, NIGHTLY BUSINESS REPORT ANCHOR: A two-second headstart. That`s all it takes for some traders to get an edge over you, the individual investors. Andthat`s exactly what`s happening when a closely watched market-moving report is released everymonth.GHARIB: And, distracted drivers. A new study says it`s not just about taking your eyesoff the road but also your mind.We have all that and more on NIGHTLY BUSINESS REPORT for Wednesday, June12th.MATHISEN: Good evening, everyone.For most of 2013, we began this program with talk of record highs and winning streaksfor stocks. Tonight, it`s a losing streak. The three-day stretch of loses for the Dow so far thisyear.And the losses have not been small. Today`s nearly 127-point Dow decline followedyesterday`s 117-point drop and was the fourth triple digit loss for the Dow in two weeks.Investors are increasingly worried that a big multiyear change is taking hold. It`s not justconcern that the Federal Reserve may pull back on it`s bond-buying program, sending interestrates higher, though, they have risen sharply since early May, including today. It`s that China`seconomy may be slowing, pulling down emerging market countries with it, emerging marketstocks off 10 percent since their peak in May.Brazil`s market is down 20 percent. Japan and Europe aren`t out of the woods by anymeans yet. And the big asset manager PIMCO says there`s a60 percent chance of a global recession in three to five years.
 
Adding to Wall Street`s worries, the dollar index, which tracks the strength of the U.S.dollar against the basket of currencies, touched its lowest level in four months today.At the end of another exhausting day, the Dow finished down more than126 points, ending below the 15,000 threshold. The NASDAQ, 36 points lower. And the S&P500 off by 13.GHARIB: So, what do all these global developments mean for your investments andyour business?Joining us now to talk about all of this: David Kelly. He`s chief global strategist atJPMorgan (NYSE:JPM) Funds. And, Ira Jersey, director of U.S. interest rate strategy at CreditSuisse.Gentlemen, welcome.Ira, let me begin with you and just ask you that -- do you agree that we are entering somekind of new era? And how much risk is the global economy really facing?IRA JERSEY, DIRECTOR OF U.S. INTEREST RATE STRATEGY: I don`t think youcan say we`re in a new era quite yet. I do think the market is getting a little ahead and a little bitshaky, thinking about what policy changes might be in store. You saw a lot of volatilityyesterday after the Bank of Japan did not give you more information about what their end goalwas for their current policy of their bond-buying program.And the market has really been on edge the last month or so considering whether or notthe Federal Reserve its own bond purchase program. In fact, the way we view it, the market isactually pricing in for a very bad policy mistake by central banks not only in the U.S. but indeedglobally.MATHISEN: David, is the market over doing it as Ira suggests there?

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