Your latest in business and finance from BBC news now. You watch live coverage of the opening bell on ABC news now ringing the bell this morning -- -- -- -- -- -- -- -- forgot how. Valentin. The... See More
Your latest in business and finance from BBC news now. You watch live coverage of the opening bell on ABC news now ringing the bell this morning -- -- -- -- -- -- -- -- forgot how. Valentin. The nutcracker. Among the performers are principal dancer -- -- -- of the for the primary and and knew they ads as her cavalier. An unusual and exciting group there. Ringing the opening bell for this. Wednesday December 19 hello everyone I'm Tanya Rivero in New York markets are now at a two month high it's a sign we're gonna steer cliff the fifth the steering and steer clear of the fiscal -- or is that joining me now. To discuss the top business headlines at this hour is Aaron task editor in chief at Yahoo! finance good morning Aaron. Good morning to sell -- Look -- in the market rally just a minute but first breaking news GM is buying back 200 million shares of its stock owned by the government help us understand. The significance of this. Well it's a big -- certainly symbolically that now the government is going to be out of General Motors there's -- of the government motors. Nicknamed can go away now. But the you're gonna hear a lot of chatter about the fact that GM is paying an 8% premium over -- the stock trading yesterday and so is that the best use. Of shareholder money. Also the government is actually you know lose a little bit of money maybe if they'd waited longer they -- made more money so it's not the best use of taxpayer money moon and so if you know you kind of wonder -- they used just for symbolic reasons why and symbolism is important but. From a financial perspective not -- makes -- a sense. Now does and so why now though while. What's behind the timing. Well I think it's interesting that you were at the of the year. We just had the government get out of AIG. The government has been. Getting rid of a lot of the companies that bought during 2008 crisis -- there were in the TARP program as well. And so I think maybe there's a sense and that at the government level but let's clean the books were literally and figuratively let's start -- when he thirteen. Right let's get rid of the stuff and move on all right well. In both the market rally -- traders betting that we won't be going off the -- for is more going on here than just fiscal cliff euphoria. Well. That that there -- more going on there there is anticipation that there's going to be a deal done there has been some progress some movement this week which is a positive thing. It also is the end of the year which typically is a strong time of the year for the stock market. And the fact is that given what the Fed is doing buying bonds. The alternative to the stock market typically is US treasuries and yields on treasuries are solo. That didn't really big investors institutional investors are saying. Why should I park my money in treasuries which are yielding nothing when I can buy stocks which have the potential to go higher and a lot of them are paying dividends to do. Right Thompson makes total sense the house speaker John Boehner is also pushing their right now what he called the plan. Would be it now can you talk little bit about this back up proposal and does Wall Street like -- I think most people look at it as really a tactical move that as part of negotiation it's not really given a lot of -- because. -- the plan B would -- have the house vote on Peter's original plan or that or his most recent plan. Which is to raise taxes only on those making a million dollars or more and -- Democrats and made it pretty clear that it would die and the senate so. I don't know that anybody -- -- really looking at the play and be as that that's gonna be the answer right if they don't come up with the -- there's a deal or there's no deal basically is. We're -- right now -- it's just move on the on the chessboard -- speaks out exactly -- little bit about the numbers we got on housing starts within the past hour they -- during November to an annual rate -- 861000. That is down 3% from October. Does hurricane sandy get some of the blame. I do you think -- that was certainly is certainly a factor and and I would assume you're gonna see those numbers come back higher. In December certainly here in in the year in New Jersey there's a lot of rebuilding has to be done. Unfortunately -- I think as -- any decent economic data you you don't look at any one month. Or even one quarter say aha there's the trend is up overall trends and the housing market is that it's been -- very good year and housing. It's heading into 2013 -- with someone that it's back really. Right that's very good news -- -- don't -- about the instant ground up for -- FaceBook and certainly something a lot of people buzzing about. A backlash from users who learned their photos could soon be used in ads now. What's the latest here is the insert -- policy it any different really than Facebook's. It's not really different than Facebook's policy which is an issue in itself and instant Graham. They've backtracked because of the back last that was going on yesterday mean everybody. Who heard about this was like wait a minute they can do what -- my -- essentially that instrument have the the rights to sell your photos to an advertiser who can use them. However and wherever they wanted. And it's. Craziness that's it's it's obscene or ridiculous -- -- lot of celebrities were upset because you know there there images really worth a lot of money today are. And you know a lot of the rest of us were saying that -- these are my family pictures -- my personal pictures you can't do -- -- you want. It definitely get raises the issue of privacy. Especially on Facebook and this is does that mean for FaceBook sort of pushes the envelope over that they get. In a lot of feedback. From their users and they sort of take a step back but it seems to me that -- but -- -- gonna check push the envelope as far as they can and so it. Answers -- back -- deadly but -- its program back pedaling here now. Our date they have backed I don't think baseless and owner knows big misunderstanding. We can't we're not gonna sell your photos emerging -- language and you have to worry about -- her heart out but. But it certainly seems like the they only did that because so many people express its write their frustration and anger about the. We'll see you how it all comes on the watch in the end -- measure will continue to hear about this now FaceBook and Twitter. Seem to be battling it out for dominance in photo sharing who's better positioned at this point. -- I have to go flicker from I think it does that -- for -- -- -- back. You know an NL of course there are they are my employer. Some biased here but I do you think this her falafel and I'll talk that over. Instead Graham privacy is going to be good for Flickr -- people -- -- -- -- doesn't do things like that. BI we did recently -- flicker in the reviews have been very good and so that's that's my thought on it again I'm biased but you know. Liquor FaceBook and Twitter there -- -- war there's no doubt about it forward you know the time spent and the features that they can offer that offer users for -- no doubt about it. Air in the trenches all right -- listen one more look at the boards if Horry -- it looks pretty flat this morning -- -- -- that. Rally may just be taken a little breather it's about. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Those -- my buddy is yeah that's right now I think we didn't ring the bell and I hasten death. The company can. I'm hoping there's some file footage somewhere that the music is played along -- -- you have to look way back for the hot I think. -- that thank you so much.
This transcript has been automatically generated and may not be 100% accurate.