The Federal Reserve, along with five other central banks, acted Wednesday to make it cheaper for banks around the world to borrow U.S. dollars.
The move is designed to lower the cost of short-term borrowing for troubled European banks, thereby helping the global economy to avoid a credit crunch. The news sent stocks soaring Wednesday, with all three major stock indexes closing the day up more than 4%. The Dow's 489-point gain was the largest of 2011 and the best percentage gain since March 2009.
Christine Romans sits down with Matt McCall, president of Penn Financial Group, to discuss what this news means for your investments.
Vice President Joe Biden paid tribute to the sacrifices of U.S. and Iraqi troops Thursday at a ceremony for service members from both nations. He and Iraqi Prime Minister Nouri al-Maliki addressed about 120 U.S. service members and 100 Iraqi troops gathered at al-Faw Palace in Bagdhad. Biden thanked the troops and recognized their achievements over the past eight-and-a-half years.
The ceremony comes just weeks before American troops complete their withdrawal from Iraq. Some have questioned whether the Iraqi government has the ability to secure the country on its own. But as former national security staffer Brett McGurk tells Christine Romans, Iraq is "as ready as it's going to be."
Herman Cain's campaign could soon be nearing an end. The GOP presidential candidate continues to dogged by allegations of sexual harassment. Cain says that he'll decide whether to drop out of the race in the next several days.
Today on American Morning, Ken Blackwell, Executive Vice President of the National Federation of Republican Assemblies and friend of Herman Cain, explains to Carol Costello why Cain needs to exit the race now.
Chandler Burr thought he had achieved his life-long dream when he adopted two Columbian boys he met through an international adoption agency.
But once Colombian authorities learned that Burr was gay, they refused to let him bring the boys back to the United States. It is legal for gay men to adopt in Columbia, though it is seldom allowed.
Today on American Morning, Carol Costello sits down with Burr to find out how he's fighting to get his boys back.
Today is World AIDS day. It's been 30 years since the disease was first documented. Dignitaries the world over – from President Obama to rock superstar Bono – are coming together to promote efforts to eradicate HIV/AIDS.
Carol Costello talks with CNN senior medical correspondent Elizabeth Cohen about the status of the AIDS epidemic today.
Today on American Morning, Christine Romans reports on the morning business news headlines.
This morning, we're watching:
* Wall Street's rally on Wednesday is losing a little steam this morning. European markets are mixed and U.S. stock futures are lower today. It's all because of the move by the major central banks to ease the flow of dollars into the global financial system
* The global rally is pushing commodity prices up across the board. Oil is now over $100 a barrel for the second time in almost six months. Experts tell CNNMoney that this time, prices may actually keep climbing because of the global economic intervention.
* This morning, we'll get a fresh read on the employment situation in this country. The initial jobless claims report is expected to show that 390,000 unemployment claims were filed for the first time last week. If that's true - it would be a good sign for the labor market.
* More than 99,000 Americans could get a nice check just in time for the holidays. The IRS says it's sitting on $153 million in unclaimed refund checks because people didn't update their addresses. If you think you're entitled to a refund - just head to IRS.gov and click on "where's my refund".
* The maker of Blackberry says it's looking into allegations hackers were able to jailbreak the Playbook tablet - a claim that could threaten Research in Motion's reputation for making devices with tough security. Apple and Google's operating systems are routinely attacked by users who want to run unauthorized programs - but breaches of Blackberry's software are more rare.
* Warren Buffett is still betting on newspaper. Berkshire Hathaway just announced plans to purchase the Omaha World-Herald company, which owns his hometown newspaper and several other papers in Nebraska and Iowa. Buffett's firm already owns the Buffalo News and has a stake in the Washington Post Company.
Tune in to American Morning at 6am Eastern every day for the latest in business news.