You can blame the democrats for their inability to offer any cuts to spending. You can blame the republicans for not wanting to even consider tax increases. But dont you dare blame ben bernanke for not being willing to take bold action to get this economy hiring and moving again even if his statements about economic weakness ultimately cause the averages to stumble from some pretty lofty levels. Dow ultimately declining ability 3 points, s p inching up 4. 4 . Closing in positive territory. Nasdaq giving up. 28 . When you look at what ben when you look at what ben bernanke did today youve got to marvel. The republicans themselves refuse to get specific on spending until they see something from the white house. The elected portion of our government is not helping this economy at all. Their failure to rise above politics to reach a compromise is now really starting to hurt the u. S. Economy. In this vacuum, the fed has decided to keep rates low. They stepped in saying listen, business, we
Europe is down for the second consecutive day. Our road map begins with jcpenney, a pleasant october surprise as comp sales rise for the month. Trends look upbeat for the month and is giving the stock a big boost in the premarket. Deere jumps on quarterlies but lowes falls. And youre going to want to hear what yahoo Ceo Marissa Mayer had to say last night in San Francisco. Well have that for you. Shares of jcpenney up sharply despite a wider than expected quarterly lost. Mike ullman says penneys is encouraged by the open in november. Theyre talking 2 billion plus in liquidity, sequential increases in margins and comps. There was a whisper around they would lose 2. This is the agabeginning what i have would call the normalization of jcpenney. Theyre going to go back to being nothing, just another retailer. Theyll be like kohls. Well talk about jcpenney like kohls. Main thing is you want to buy pvh because they were the supplier that stuck with the previous guy. Notice i didnt call him c
Shocker the dow got clobbered, s p backslid,. 36 and the nasdaq plunged. 26 . It was a meeting that happened about a month ago has almost always been a suckers game. These fed minute related selloffs are rarely more than just a head fake with no real, lasting impact. It doesnt mean we cant go down more after the run weve had. I certainly cant say that. In fact, its kind of the opposite and were certainly due for a bit of a bruising, and it wouldnt be exceptional if we didnt it would be exceptional if we actually didnt have a bruising, but thats why i feel why tonight is a terrific time to explain why i do still think were in a bull market, despite the wave of negativity through todays session and yesterdays. So i need you to go back. I need you to do your literary homework here. Remember tolstoys classic line . All happy bull markets are alike, but each unhappy bear market is unhappy in its own way in the seminal stock treatise anna karenina. Its a great metaphor. Indeed, bear markets
But do i like it much better than the happy music at the top . I do. Do you . I think well get sued because it so clearly identifies with the walking dead. We had our walking dead pictures up there. That is why we have lawyers, dont we . Probably more overall financial pep than amc. Were bigger so we win . Andrew, isnt that how it works . Money controls youre tempting fate. We have the money. I think they like it its the biggest tv show in history almost. And what do they say about imitation being the highest form of flattery . There you go. Forget sugary chocolate the Global Market is getting an entirely different boost this morning with the bank of japan expanding monetary easing. Policymakers citing worries and a decline in oil prices that can hurt the areas. The yen dropped below did dollar to its lowest level since 2008, 1. 6 0. Check out the futures, at this point, there are some huge up sides to this. Dow futures look like theyre indicated to open up about 188 points. The s p fu
Overshadow jobs. Retail sales for november. Expectations are for an increase of 0. 6 . This gueives us a very good ide of whats happening in the early shopping season. Ahead of those numbers, the futures right now are indicated lower. You can see right now those dow futures down by 16. 5 points. S p futures off just over 2 points. And on the earnings front, lululemon is expected to record at 7 00 a. M. Eastern time. The expectations have been for 41 cents a share. This after the ceo was forced to step down after making comments about the pants arent made for everyone. Shares of lululemon right now, down about 6 cents. Lets get over to andrew with more of todays stop top stories. Good morning. Thank you, becky. As joe was mentioning earlier, Hilton Worldwide will begin its first day of trading. Hey, squawk box. Thats hot. Thank you very much. Youre pricing at 20 a share. Thats the high end of the expected range. The offering raises more than 2. 3 billion and its trading under the symbol