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CNN Live At Daybreak
Fed Chief Gets Thumbs Up
Aired April 23, 2003 - 06:46 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: A little business buzz for you right now. Fed Chairman Alan Greenspan got the thumbs up from President Bush and his doctors.
Let's go back to New York and Susan Lisovicz.
Good morning again -- Susan.
SUSAN LISOVICZ, CNN FINANCIAL NEWS CORRESPONDENT: Good morning again, Carol.
A very good day for Alan Greenspan. First, President Bush supporting a fifth term for the Federal Reserve chief. Mr. Bush says Alan Greenspan has been doing a good job maintaining a strong monetary policy. Greenspan has been at the top post for nearly 16 years. He's served four presidents, seen the economy through two recessions, a stock market bubble and the longest expansion on record. He's often referred to as the second most powerful man in Washington. That's because, of course, the impact of his words and the Federal Reserve's actions can have on the economy.
The news coming as Greenspan underwent surgery for an enlarged prostate gland. The surgery, non-cancer related, considered a success. And Alan Greenspan expected to be back at work at his post later this week -- Carol.
COSTELLO: I have to ask you, so did the thumbs up from the doctors mean that the arrows went up on Wall Street as well?
LISOVICZ: Actually, it did. I mean the fact that President Bush said that he had his support for a fifth term is considered one of the reasons why the market rallied so strong yesterday. We also got some good earning news we have to say. The Dow and the Nasdaq each gaining nearly 2 percent, helped by those earnings news. And looks like we'll have some follow through at the open, futures pointing to a higher open.
Some stocks to keep an eye on today, eBay, after yesterday's closing bell, the auction Web site reporting sharply higher sales and earnings, beating forecasts. And of interest perhaps to you, Carol, AOL Time Warner, parent of this network, due to report earnings before today's open. Expected to earn four cents a share for its first quarter. That is down from nine cents a year ago. The stock rallied about 3 percent yesterday, partly because it sold its 50 percent stake in Comedy Central -- Carol.
COSTELLO: Just gets painful, more and more painful, doesn't it? Susan Lisovicz, many thanks to you.
LISOVICZ: My pleasure.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
Aired April 23, 2003 - 06:46 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: A little business buzz for you right now. Fed Chairman Alan Greenspan got the thumbs up from President Bush and his doctors.
Let's go back to New York and Susan Lisovicz.
Good morning again -- Susan.
SUSAN LISOVICZ, CNN FINANCIAL NEWS CORRESPONDENT: Good morning again, Carol.
A very good day for Alan Greenspan. First, President Bush supporting a fifth term for the Federal Reserve chief. Mr. Bush says Alan Greenspan has been doing a good job maintaining a strong monetary policy. Greenspan has been at the top post for nearly 16 years. He's served four presidents, seen the economy through two recessions, a stock market bubble and the longest expansion on record. He's often referred to as the second most powerful man in Washington. That's because, of course, the impact of his words and the Federal Reserve's actions can have on the economy.
The news coming as Greenspan underwent surgery for an enlarged prostate gland. The surgery, non-cancer related, considered a success. And Alan Greenspan expected to be back at work at his post later this week -- Carol.
COSTELLO: I have to ask you, so did the thumbs up from the doctors mean that the arrows went up on Wall Street as well?
LISOVICZ: Actually, it did. I mean the fact that President Bush said that he had his support for a fifth term is considered one of the reasons why the market rallied so strong yesterday. We also got some good earning news we have to say. The Dow and the Nasdaq each gaining nearly 2 percent, helped by those earnings news. And looks like we'll have some follow through at the open, futures pointing to a higher open.
Some stocks to keep an eye on today, eBay, after yesterday's closing bell, the auction Web site reporting sharply higher sales and earnings, beating forecasts. And of interest perhaps to you, Carol, AOL Time Warner, parent of this network, due to report earnings before today's open. Expected to earn four cents a share for its first quarter. That is down from nine cents a year ago. The stock rallied about 3 percent yesterday, partly because it sold its 50 percent stake in Comedy Central -- Carol.
COSTELLO: Just gets painful, more and more painful, doesn't it? Susan Lisovicz, many thanks to you.
LISOVICZ: My pleasure.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
