For that retailer and they are getting optimistic about the holiday season. Lori thank you. Adam hopefully somebody is optimistic. Some bad news may be coming. Management trouble have abercrombie and fitch worried about losing their spot in the s p 500. According to a report, the shares are taking a hit over the last year. Jcpenney shares lost half of their value. Indexes looking to make room for a spi spinoff starting to trade november 2. Lori shares of deere on an upbeat. Expecting construction sales to surge things to the housing recovery and said that will help offset weakness in agriculture struggling. Soft Commodity Prices leads them to cut spending. Adam the message the fed is still pushing to the market. Federal reserve chairman ben bernanke hinting near zero rates even after Unemployment Rate falls below 6. 5 . My next guest says the fed is nowhere near raising rates and shouldnt even be thinking about tapering. Joining us right now to discuss all of this. Congratulations, you
We are kicking it off with what everyone is talking about today and it is summed up with one word failed. Failed. Failed. Failing is a part of business and part of life, but when it comes to stress tests at the Federal Reserve instituted on big banks after the financial crisis, failing this go round is a big deal. Citigroup ask the fed to return capital to shareholders, more capital to shareholders, an increase in its dividend, currently a penny or larger buyback. Citigroup was rejected by the fed on a qualitative basis. So there is quantitative, numbersbased analysis of banks finances, and others qualitative, analysis which considers things like internal controls and corporate governance. It was on that basis that citigroup failed and as a result, it cannot increase it evident nor cannot buyback more stock. 29 of the 30 banks did not pass and the one that did was very close. There are these more subjective factors, qualitative factors of how good are the processes . The fed does not w
Economic arena. I always forget that he actually worked years ago. Then we have steve forbes, the grand master of todays ceremonies. Then we have bill ford. Well talk about the Automotive Industry, maybe ask him a question about tesla or two but really try to understand what manufacturing means in this country. And then the governor of north dakota, now, the governor of north Dakota North Dakota has the lowest Unemployment Rate in this country. Were going to talk about shale, natural gas, what all of that means, innovative and manufacturing and finally, the big issue of the morning, education, and we have cheryl hyman, the chancellor of the city or rather the Chicago City College here and what theyre doing with education and teaming up with companies and what theyre doing to create jobs. Thats what we have going on right here in chicago at the forbes reinventing America Summit. And im going to send it in the meantime back to you, becky. I knew what happened there. I was confused, too.
Russias problem is your problem, too. Same goes for turkey, brazil, china. Im looking at the tangled web that is our Global Economy and what it could do to your bottom line. Also the labor ruling that might change the face of College Football forever. Plus you want jobs . I got jobs. Ill tell you about an industry that is booming right now in america, and how you can get in on the action. Im ali velshi, and this is real money. This is real money. Youre an important part of the show. Join us at twitter and facebook. Com aj real money. Five years after a worldwide economic down turn. The risk of implosion to america and the globe has subsided considerably. But in our inter connected world there are growing Political Risks that can still do damage to your prosperity. Here are three that you need to Pay Attention to. The escalating crisis over ukraine appears to be pushing russian economy which is the eighth largest economy in the world into recession. If that happens, and its not entirely
Red despite betterthanexpected durable good. A lot of concerns on the International Front with ukraine weighing on the market. Getting over to julie hyman with a look at the big stocks as we watch things heading into the close. A big potential deal in the satellitetv business. Ergen has had talks with his rivals over direct to be about potentially some kind of deal. Share look at the reaction, both stock surging. Up 6. 4 . Facebook heading in the other direction after buying a virtual and agreeing to for 2 billion. Investors not to thrilled about the news and seeing facebook shares selloff today. Finally, looking at qwest diagnostics and lab corp. Both of those groups rising. Bill that is positive that removes an overhang about concern about clinical reimbursement rates at labs that these companies own. Shares are rising over that. Thank you so much. Time for the big story. Taking tech timebomb. First facebook announcing a 2 billion bets on Virtual Reality company oculus. A company tha