alcoa kicking off earnings season. europe was missed and the nikkei was up about 1%. our road map begins with history in the making. the president set to nominate federal reserve vice chair janetijanet i yellen to be the new chairman of the federal reserve. if confirmed, she d be the first woman. young, costco and family dollar all down after issuing disappointing results. first up, though, history is about to be made in washington. the president will nominate fed vice chair janet yellen to replace chair ben bernanke. if confirmed, she d be the first woman to head any major world central back. the official announcement taking place at 3:00 p.m. eastern time in the east room. jim, it s been said there s one less uncertainty that we have to worry about. breathed a sigh of relief. i felt a sigh of relief because it s just nice that something came out of washington that, well, just happened and immediately we saw reaction that, well, corker, my love because he comes on squawk
average. nasdaq was weak for most of the session. we saw air coming out of the big momentum names. nasdaq composite down 17 points today. s&p was up just about one point, flat after giving up much of an earlier rally similar to the dow jones industrial average. despite today s uptick, the dow has wiped out more than 800 points since hitting a reported high three weeks ago. let s check in with bob pisani. why the optimism today, bob. if you take a look at the s&p, it wasn t on the fed minutes. i think most traders feel it was an oversold bounce with two pretty rough days. janet yellen may have helped on the margins. let s take a look at sectors moving. hewlett-packard, they gave commentary, better than expected. on the guidance. meg whitman said there s a lot of work to be done but confident in the progress we ve made. those comments came out just before noon. we saw these names frequently traded, beta names. biotechs have had a rough couple days. some big names to the downs
but it couldn t hold onto the close couldn t hold onto that level, we should say. the entire market losing altitude in the final hour. let s bring in the closing bell panel and figure out what we learned today. joining us jon fortt, kenny from o neill securities who is just finishing up trading on the floor and he ll be be shortly. sheila over at the nasdaq. it was nasdaq 4,000 all the talk earlier today. by the close it was the hit social media was taking. what s going on? we managed to eke out a gain at nasdaq six points away. you mentioned social media. bigger picture it s the momentum stocks today everyone was talking about. facebook was definitely one of them. tesla, green mountain coffee baidu, names down today. exact same names that led the nasdaq higher. everyone focused on the momentum stocks. sheila, thanks. dan, i m curious, why is it we re seeing some momentum coming out of the market today? listen, you focus in on any one particular area of the market. in
season would start and why mike duke is leaving years before expected. he hasn t been there but since 2009. his predecessor, lee scott, 2000 to 2009. it seems like a shortened period. also, as someone who follows retail closely, this is not the time to change horses, so to speak. at the same time, i am sure this company will, without a doubt, say it is seamless. i want to hear from david, that there is nothing pertinent that would make it so this seems wrong. i don t think it is right. david, you do know mcmillon well. what can you tell us? i spent a good amount of time doing our last document on walmart, which has to be about five years ago. then, there was a lot of speculation he would be the next ceo. i remember distinctly discussing it with him. it did make air on the documentary, that idea. he was running international. we spent a couple of days together in china. certainly, well-schooled in international, had run, i believe, cosco prior tco, prior. you mean sam
yesterday s negative market action. there you can see the s&p, the dow and the nasdaq, all looking like we may be implied at least for a positive open. we shall see. that all-important ten-year note deal. interesting how rates have been moving up over in china in terms of borrowing rates. how are we doing here in the states in we ll take a look at the ten-year, which is still hanging right in there at that 2.7 range we ll call it. go across the atlanta to europe. we ll call it a mixed picture. is that your call? yeah. they don t celebrate thanksgiving there. they don t have that seasonal lift like we have here. that s true. we start with tiffany, shining just in time for the holiday season. sales in asia helped to shield the outlook and the stock. remember when jos. a. bank withdrew its offer to buy men s wearhouse earlier this month? now there s a twist as men s wearhouse tries to buy jos. a. bank. tiffany s posted better than expected results, total sales in the asia pa