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Dow Jones Industrial Average Closes Above 15,000; President Obama Welcomes South Korean President to the White House
Aired May 8, 2013 - 04:00:00 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CARL AZUZ, CNN ANCHOR: How much sleep should we get and why aren`t we getting it? Some ABC`s and Z`s in just a few minutes. First up today, Wall Street. Yesterday, the Dow Jones Industrial Average closed the day above 15,000. That`s significant, but why? But for starters, it`s never happened before. And that number, 15,000 comes from a complicated formula based on 30 stocks that are part of the Dow Jones Average. Higher number equals higher value for those stocks. Those companies represent a variety of industries. The Dow gives an idea of how the stock market is doing and the stock market is one indicator how the U.S. economy is doing. So, when the Dow reaches a new record, it means investors are feeling more positive, experts seeing this as a sign that the U.S. economy is improving. Next, President Obama welcomes South Korean president Park Geun-Hye to the White House yesterday. This is her first visit to the United States as South Korea`s leader. The countries have been allies for decades, and as part of that relationship, the two countries run joined military exercises every year. A major part of this year`s exercises wrapped up last week. Something else the U.S. and South Korean have in common - both countries have a tense relationship with North Korea. That country recently made threats against South Korea and the U.S. The tension has calmed down a little bit, but North Korean gave a new warning this week about military drills happening off the West Coast of the Korean Peninsula.
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UNIDENTIFIED FEMALE: See, if you can I.D me: I`m a country that has one of the world`s only communist governments. I`m the fourth largest nation in size, but I have the world`s second largest economy. I`m first when it comes to population. I`m China, and I became the world`s second largest economy in 2010.
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AZUZ: China took over that number two economic ranking because its economy grew. It`s something you hear U.S. politicians talk a lot about economic growth. Usually, it`s considered a good thing, when a country`s economy grows too much too quickly, there`s a chance it can start supplying things that aren`t in demand. Ivan Watson gives us one big example:
IVAN WATSON, CNN CORRESPONDENT: It`s May Day, a national holiday here in China. And in this factory town, families are packed into this amusement park outside a big shopping mall, all taking advantage of the day off to have a good time.
From the outside this place looks like a festive boomtown. But the view inside is very, very different. Take a look at this: this is the new South China Mall. When it opened more than five years ago, it was promoted as the world`s largest shopping mall, but look at it today. The escalators are covered with sheet, the elevators are not even working and it is virtually deserted, a ghost mall, some people call it. There are almost no shops open in this entire place. In fact, it looks like there are very, very few retail tenants operating businesses here at all. The ground is littered with garbage. And it smells like a lot of people have been using this place as a giant public bathroom.
It`s here in this eerie urban landscape that we stumble across two Taiwanese businessmen who say the timing was bad for the new South China Mall.
NELSON WANG, CHANG SHENG CONSULTING (through translator): You can`t say just because you build it, it will work. You have to have enough demand first.
WATSON: The businessmen say they`re negotiating a deal to turn the failed shopping mall into an office park. It`s too early to say whether or not these Taiwanese businessmen will succeed in turning what was supposed to be a Venetian-inspired shopping experience into a profitable office center. But it`s important to know, this is not the first ghost mall we`ve seen in China. These are perhaps an example of what happens when an economy tries to grown too big too fast. You`re bound to get some pretty big mistakes along the way.
Ivan Watson, CNN, Dongguan in southern China.
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UNIDENTIFIED FEMALE: Today`s Shoutout goes out to Mr. Lowery`s homeroom at the Lucaya International School in Freeport, Bahamas.
Which of this refers to part of the sleep cycle. You know what to do. Is it RAM, RYM, ROM, REM?
You`ve got three seconds, go.
REM stands for rapid eye movement. It happens during sleep when you`re dreaming. That`s your answer and that`s your "Shoutout."
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AZUZ: You need more sleep. You`ve heard your mother say that, and many folks have listened. But according to a new survey, Americans, even really sleepy ones aren`t doing anything about it. Well, wake up and smell some facts: the Centers for Disease Control has called not getting enough sleep a public health epidemic. Why? Because those who don`t sleep enough are more likely to be depressed, overweight, less productive and may simply don`t look as good as when they`re sleeping enough. Don`t you want to be beautiful? The Better Sleep Council reports that nearly half the people in America say they don`t get enough sleep, but fewer than half of them take specific action to catch some Zs. That could be because many simply don`t believe a lack of sleep is bad for you. 45 percent of guys, for instance, say that people can learn to live with less sleep, The council, a non- profit group supported by the mattress industry calls that a myth. 80 percent of Americans say they get stressed or have trouble concentrating when they`re sleepy. But fewer than 30 percent of them believe a lack of sleep can contribute to memory problems, heart problems or diabetes. It can. So, how much sleep do we need? For kids it`s ten to 11 hours a night, teenagers should aim for 8.5 hours or more, and adults seven and nine hours a night. If you`re not serious about getting enough sleep, the council is hoping this will be a wake up call.
Our next story today. When a young person is diagnosed with cancer, it can mean treatments, tests, doctors` appointments. For some families, just getting to the hospital is a struggle. That`s where Richard Neris comes in. What he is doing in his community is why he is one this year`s CNN heroes.
RICHARD NARES: I know what those families are going through.
UNIDENTIFIED CHILD: (inaudible)
NARES: Cars coming in.
It is extremely difficult. My son, he was diagnosed with cancer. It was such a horrifying time. We were fortunate we had rides to the hospital to bring Emilio. And many of families don`t have that support.
We find out that many of them were missing appointments.
My name is Richard Nares. No child should miss their cancer treatment due to lack of transportation.
There you go.
We give over 2,000 rides a year. For these cancer patients it`s 120 miles.
"Ride with Emilio" plays an important part of their treatment. We get them here in a nice, clean environment and on time.
UNIDENTIFIED FEMALE: We live here. It`s everything. Treatment. We want to fight. We`re in this together. It`s all I care right now, my daughter`s life.
NARES: When you`re fighting for your child`s life, nothing else matters.
UNIDENTIFIED FEMALE: They pick us up in the morning, and give us a ride back. They`ll help us every step of the way. NARES: 70 percent of our families are Spanish-speaking. Having invited more stuff is extremely important. I feel like it`s my obligation to help them navigate the system.
Take a care of yourself.
UNIDENTIFIED FEMALE: Yeah.
NARES: from the someone who`s been there.
UNIDENTIFIED FEMALE: Thank you.
NARES: Even though he`s passed away almost 13 years, he`s the main force of this, and I feel that I`m the right person to help.
UNIDENTIFIED CHILD: Cheese!
AZUZ: Teacher appreciation. If you`re on Facebook, you can talk about your favorite teachers most memorable lessons. Some of you have been sending us I-reports.
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UNIDENTIFIED FEMALE: Hi, I`m Tiffany.
UNIDENTIFIED FEMALE: I`m Hannah.
UNIDENTIFIED FEMALE: Our teacher is Mrs. Johnson of Pendleton High School in Pendleton, Oregon.
UNIDENTIFIED FEMALE: He`s most likely to teach a future president, thanks for being such a great teacher.
UNIDENTIFIED FEMALE: See you in class.
UNIDENTIFIED FEMALE: Hi, CNN. I`m homeschooled and I`d like to recognize my mom as the most dedicated teacher. Or you can say, my mom is the most amazing mentor ever.
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AZUZ: Great job, you all! Our last story today: it`s normal for people to make requests of their government. These fourth graders got an immediate response: they were visiting New Jersey Governor Chris Christie when someone spotted a spider on the governor`s desk. Bam! We don`t know if the students actually asked Governor Christie to address the arachnoid, he might have take action into his own hand, but he did sent out the video later on, so it seems like he was happy to engage in a little smack talk. It sounds (inaudible) are bugged out. I hope you enjoy the rest of your day. Bye now.