This is n. B. R. Susie good evening everyone. Im susie gharib. Tom hudson will be along a little later in the program. Hohum sales for the nations retailers this christmas, ringing up the worst Holiday Season in four years, we talk with a top retail analyst. President obama and congressional leaders cut their vacations short, to deal with fiscal cliff negotiations. They have five days to make a deal. And housing continues to be the bright spot in the u. S. Economy home prices post their biggest advance in two years. That and more tonight on n. B. R. christmas may be over, but the Holiday Shopping season continues. Many consumers hit the malls today to return gifts and buy what they really wanted. And this is the time many gift cards get redeemed. But for retailers, holiday sales so far have been a flop. Sales in the two months leading up to christmas, rose just 0. 7 , according to Mastercard Advisors that tracks the numbers. Thats way below what the Retail Industry was predicting. Erik
Tom good evening. Imom hudson. The fiscal cliff debate hits the floor of the u. S. House but not much progress is made. Warren buffett and others tell lawmakers to look for more money from the estate tax. Susie im susie gharib. Could another major bondbuying program be on the way . What we could hear tomorrow as Federal Reserve policymakers wrap up their twoday meeting. Tom ever wonder what goes into making those cardboard store displays . Tonight, we look at how one box company is using them to reinvent itself. Susie that and more tonight on nbr tom an agreement to ease the fiscal cliff may not be wrapped up and waiting under your tree for christmas. Senate majority leader harry reid said today it would be hard to get an agreement finished by the holiday, blaming the delay on republicans. Not surprisingly, republicans say the president hasnt gotten serious about the talks. Plenty of outside groups are offering up suggestions. And as darren gersh reports, they include Warren Buffett an
Captioning sponsored by wpbt this is n. B. R. Susie good evening everyone. Im susie gharib. Fiscal cliff talks at the white house end with nal, but president obama says hes still hopeful and says weve got to get this done. Gold prices pulled back today on worries about the fiscal cliff, will the metal shine in 2013 . Then cuba, tonights market monitor sees big opportunity on the tiny island when the embargos lifted. Thomas herzfeld, of thomas herzfled advisors joins us. That and more tonight on n. B. R. president obama says hes modestly optimistic a fiscal deal can be reached in time. He said hes instructed senator harry reid and senator Mitch Mcconnell to come up with a plan that can pass in congress. His brief comments a short while ago came after a white house meeting today with congressional leaders that ended with no deal. Ahead of that, investors lost hope lawmakers can come together in the time remaining. In the last few minutes of trading, stocks sold off. The dow tumbled 158 p
Beyond their control like the economy and the fiscal cliff . I think overall it was more probably 70 to 80 factors beyond the retailers control. I think retailers had creative merchandise but i think the news didnt lead to a feel good factor. In any economy, good or bad, you always have some winners. Who did really well this year . Well, it looks like in terms of who did well so far, Companies Like American Eagle outfitters limited, michael cors, macys tj and i would say costco was also a winner. On the flip side were there retailers that you had high hopes for going into the season but just didnt deliver in the end. Certainly we will see some becoming more promotion al, some of the childrens retailers, whether it was impacted by weather or there was Competitive Price and they did a good job at it, the childrens retailers seemed to have a tougher season this year. Now is the time of year when we shift into gift card sales. What most people dont realize is those sales get counted until
But they might not get it done before the midnight deadline tonight. The senate could vote in time, but its possible the house will wait until tuesday. That means the u. S. Could go over the fiscal cliff. On wall street today, investors bought up stocks on high hopes of deal, after president obama said this afternoon a deal is in sight, and positive comments from Republican Leaders in the senate. Heres how e major averagesr closed on this last trading day of 2012. The dow surged 166 points, the nasdaq jumped about 60, and the s p rose almost 24 points. While wall street has already closed the books on 2012, washington still has a few hours to go before its new years day fiscal cliff deadline. Darren gersh has the latest. Reporter after a weekend of latenight negotiations with the vice presidt, Senate Republican leader Mitch Mcconnell said an agreement on the fiscal cliff was very, very close. Well continue to work on finding smarter ways to cut spending, but lets not let that hold up p