• Tuesday August 27, 2012 Happening Now

      There's a high profile meeting today between Senators John McCain, Kelly Ayotte, Lindsey Graham and U.S. Ambassador to the U.N. Susan Rice. Note, they've led the questioning of the White House on the Benghazi debacle and have openly challenged a potential Rice nomination to replace Hillary Clinton as Secretary of State. There's also reports Rice will also meet with other leaders on Capitol Hill. These "visits" traditionally used by potential nominees to build support for future nominations. Senators and other leaders are expected to have some tough questions for Rice.

      Fiscal cliff meetings going on up and down Capitol Hill today. There seems to be a standoff underway on whether to raise taxes through the closing of loopholes and other measures OR by raising tax rates. Another sticking point? Entitlement reform. Republicans want to know why Dems are so resistant to making entitlement reform any part of a big "grand deal."

      We get several economic reports today.

      ECONOMIC REPORTS

      0830EST -- Durable Good Orders

      0900EST -- S&P/Case-Shiller Home Price Index

      1000EST -- Consumer Confidence

      Greece got another deal today to keep from defaulting on its debts.. as European leaders agreed to another loan payment. Keep an eye on the markets.

      Looks like cyber Monday sales came in better than expected. IBM Benchmark reports a 28% increase year over year. So far the holiday selling season off to a good start.

      Snow due for the Northeast today.

      Syria is killing its citizens again. Syrian warplanes bombed a factory in the northern part of the country. Several reportedly killed. Activists say the civil war has killed more than 40,000 people.

      Opponents of Egyptian President Mohammed Morsi protesting in Tahrir Square again today. Morsi seemed to back down slightly in a battle with the judiciary. He granted himself sweeping powers, but yesterday slightly scaled them back.. and says they are just temporary...

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