The nasdaq down by about 12. Because of tomorrows holiday, you do have the Labor Department coming out, releasing its weekly jobless claims numbers today. We get them a day early instead of a day late. Also today well be getting Weekly Mortgage rates. And freddie mac will report on the Weekly Mortgage rate averages as well. Lets talk about the top Global Market story this morning. It is greeces International Lenders, which did not reach a deal, and now they wont be releasing that next bailout payment. Nearly 12 hours of talks failed to reach a consensus. The imf and the central bank all going to gather again on monday to try again, but this is not necessarily good news at all. Hostess brands will proceed with a plan to go out of business. The maker of twinkies says lastminute talks with the striking workers broke down yesterday, hearing with a bankruptcy judge set for 11 00 eastern time. Then we have another string of bad news. A bad development. A very bad development. I thought for sure they were going to find some sort of deal. I opened all the box of stuff we were hoarding. I was assuming there would be a deal. There was no chance of a deal. I thought there was. They were losing 10 million, 15 million a year. Theyre not going to go away. We were just talking about how nice it is that we are nostalgic. I havent bought a pack of twinkies in 20 years, but i dont want them to go away. I want my kids to know about them. With kyle growing up, hes not going to know. People around the country heard hostess is going away, and theyre like what . Did you notice it was front page of every newspaper . It wasnt just like one story. There were multiple stories in every newspaper. Yeah. As far as autonomy goes i like what the guy is saying. Hewlettpackard is using it as a crappy acquisition. Theres something strange about this story. Im still convinced theres something off about this story. With the hp side of it. Its not to suggest there wasnt fraud or something else, but the other thing that they didnt call it fraud or try to imply even more heavily. They even call it malfeasance. Thats from potter. You going to watch potter . I will. If youd like me to. You watch its a wonderful life . Every man should watch it. You watch it every year . No, but i do like it. I cry. Its the only movie i really cry for. The fbi and s. E. C. When his ears hurt and doesnt know that it was poison that he sent to the kid. I did it for you the s. E. C. Said to be probing these allegations about hewlettpackards allegation of autonomy. Hp said it was a victim of a multibilliondollar fraud. Mean tile, the founder of autonomy and former Ceo Mike Lynch is telling cnbc that he was shocked by the allegations and he blamed hp for mismanagement. Were talking about a massive elephant in the room that wasnt spotted and the reason it wasnt spotted s very simple, it wasnt there. It was done in their own words meticulously and great detaille then they actually ran the company, including doing all of the books for the last four quarters. Shares of hp were not as bad as they were at certain points yesterday, but thats this mornings trading, so it doesnt really show you where it was yesterday. I think it closed above 13. And it hurt the dow, even though the dow managed to just close down in single digits. You dont think theres something wrong with this story, though . Also, by the way, if youre mike lynch if you actually thought there was even a chance that you were going to jail over this or that there was a real issue you would have shut your mouth. Youre on lockdown. I dont know which side is weirder on this. I cant imagine hp bringing this without having some serious oh, absolutely. Serious evidence that points to this direction. Its very strange that they never contacted the ceo, the former ceo of autonomy when they did this. He actually talked to all things digital, too. And he told these guys that hp jacked up the price on Autonomy Software by 30 , which drove away customers. But notably not paid commissions to sell Autonomy Software, which is interesting. Shc capital is another story. It says it will continue to cooperate with the government. Yesterday prosecutors charged a former employee of the firm with Insider Trading. But steve coen is said to have personally signed off on the series of transaction. The government alleges that former s. A. C. Employee helped the firm avoid losses and bring profits in totaling 276 million by using insider tips he got from a doctor about test results. Prosecutors are calling this the most lucrative Insider Trading scheme ever. And the last time that people said well, of course we do what, they pay research organizations. Expert networks and all this. Expert networks. People that are paid to know how do you could even go and talk to i guess can you talk to some of the patients that are in the Clinical Trial and get some anecdotal evidence . You might be allowed to do that. This is different. This is the guy whos running it. And hes telling the investor what to do. The question i have and ive known steve coen for a long time. I have a huge amount of respect for him. Does he know what hes getting . Thus far theyve been trying to go after steve forever. And it always seemed one or two or three steps removed. The way that firm is structured is such that traditionally he has not been involved in trades. However, in this particular case, he seems to have been involved in the trade, at least maintains plausible deniability. Hes always maintained plausible deniability. In this case, they described him as Portfolio Manager a and say he was consulted. If you are going to go make what turned out to be a billiondollar trade or even a half a billiondollar trade, someone is going to say why are we doing this . Unless youre going to say well, i woke up in the morning and had a hunch that this is a bad id idea although, if you take that to court proceedings, the idea of trying to prove its still three links, right . This guy who came to stevie cohn had information from somebody else. Youre wondering why it wasnt smart enough to put up a flag. Im just saying if youre going to make a huge trade, youll be asking questions about why are we making this trade. Because we know were going to be right. I hear you. I would have tripled it. Im trying to ask the Butterball Turkey the right questions. The one thing about getting old is i dont remember what i asked her last year. Dont you have some questions . I do. I remember what we asked her last year. Do you make a turkey . Or are you like paul mccartney, do you make some sort of tofu. One thing you cant do in the city, which i wish we could do deep fried turkey. I would love to do a deep fried turkey. Mark bitman is suggesting that you break the turkey in two and do what he calls a flat turkey. Its supposed to be really tasty. After its dead. Yes, after its dead. Pitas not going to like that. How could you actually break a turkey . Down middle or front back . Did you see that pita is protesting the president s pardon . I didnt understand that. They said dont pardon him. Why . All going down with the ship . Because its done anyway. I dont know. It was very strange position to take. All right. Well, do you have any questions . I was going to talk about flattening the turkey. She knows a lot. I want to know if you flatten the turkey, how do you deal with the stuffing . I remember what i asked last year. I dont remember everything. The stuffing inside, do you stuff it in really night. Thats right. You dont stuff it in tight. But you also dont stuff it the night before either. No. That would be really bad. Because a lot of stuff can grow and even if you cook it, it doesnt kill it, and then you can have that thing that happened to me anyway after thanksgiving. Lets talk about black friday, too. That day is traditionally the official kickoff to the Holiday Shopping season, but this year it is starting even earlier. Many retailers will be opening tomorrow on thanksgiving. Meantim meantim meantime,ecommerce is growing. I guess thats an overall number, going from 15 of overall sales to 18 . We will talk retail in the next halfhour. We have the ceo of toys r us joining us. The National LaborRelations Board says it is unlikely to make any decision on walmarts request to stop worker rallies. The retailer has faced months of protests outside some of its stores. It filed an unfair labor practice complaint last week calling the worker rallies unlawful attempts to disrupt its business. Wall streets industry funded watchdog is threatening to suspend morgan keagans license unless it meets certain conditions. It is said the firm is not complying with ruling in favor of retired basketball star horace grant. You remember horace grant . I remember him. Chicago bulls. Morgan keagan recently paid grant 1. 6 million in a bitter dispute. They say the broker now owes 333,000 in interest. Also, News Corporation has reportedly expressed interest to cbs about mortgaging the companys book businesses. The talks involved combining Harper Collins and simon and shuster. A deal is not imminent, but i can say as someone whos married to someone in the book business, we just had the deal between random house and penguin. Penguin works on your book. Okay. The fda has approved the first seasonal flu vaccine produced using animal cell culture that. Is different from the traditional manufacturing which uses chicken eggs. Its a speedier process, which could help build stockpiles in the event of a pandemic. Thats always been the worry that takes too long when you use eggs. Flight attendants at u. S. Airways voted to authorize a strike to workers that voted down a contract that the airline had proposed twice this year. The airline, as you probably know, andrew loves this story, too, is in talks with American Airlines about a potential merger. Should have done this eight months ago, they would have saved themselves a lot of heartache. This is just dragging out for no reason. Yeah. You just figure theyre meant to be together. Otherwise amr is meant to be nowhere is sort of the issue. In Global Market news, japan logging its fourth straight trade deficit in october. The european debt crisis with china over a territorial dispute actually reduced exports. And we continue to follow the latest developments out of the middle east. Secretary of state Hillary Clinton traveled to the west bank this morning to meet with palestinian president mahmoud abbas. Abbas heads the west bank, while the Palestinian Militant Group hamas controls the gaza strip. Hamas is considered a terrorist organization by the United States because it continues to refuse to recognize israel as a state. The United States has a policy of not negotiating with terrorist organizations. Thats why shes not speaking with anyone in gaza. Her visit comes hours after a meeting with israeli officials that lasted late into the night. Lets take a look at the markets this morning. We already showed you the futures. They are down slightly. Dow futures down by about 23 points. In europe this morning, youll see that also, by the way, a lot happened yesterday. Ben bernanke started talking, when he raised some concerns about the fiscal cliff, that once again put pressure on the markets. Thats when things turned down yesterday. Youll see in europe, barely budging at this point. In france, the cac is up by about a point. The ftse is down by less than five points. In germany, the dax is up by less than three points. Overnight in asia, youll see that in japan, the nikkei was up by about. 8 of a percent. The shanghai composite up by about 1 . The hang seng was up by 1. 4 . Oil prices also up slightly, up about 72 cents. Not near the higher levels that we had seen because of the concerns in the middle east. 84. 7 is where wti stands. The tenyear note is yielding 1. 661 . We do have those numbers coming out. The dollar sup across the board. Euro is at 1. 28. Gold prices this morning are indicated up just barely up by about 2. 60. Lets go across the pond. Ross westgate is standing by for us in london. Ross, good morning to you. Good morning, andrew. Good to see you ahead of thanksgiving. Becky called it. Were pretty flat here in europe. The dow jones being outpaced a little bit more. As you say, the focus very much on the Euro Group Meeting which broke up in the early hours of today with still no agreement on when to give greece their payment. This time, it isnt greeces fault. Theyve done everything possible. Its just that we cant get agreement between the imf and the ecb and individual eurozone finance ministers on what the sustained plan should be. We know in the eurozone, they want to push back the debt maturities by a couple of years, maybe reduce Interest Rate payments. We know theyre saying look, the debt is just not sustainable, youre going to have to have Debt Forgiveness and therefore Public Sector involvement, some writeoffs and the eurozone finance ministers are not ready for that. Angela merkel did come out and say look, we can find a way to close the gap here. Could expand the use of the esfs. Uk bond figures fairly disappointing as well this morning. Eight and a half billion for the month of october. Analysts were forecasting six billion. Puts pressure on the uk chancellor in a couple of weeks. Thats where we stand. Happy thanksgiving to one and all. Ross, thank you. You guys dont celebrate thanksgiving over there. They have their own day of thanks. They cant stand it. This is one we made good without them. They tried to tax us without representation. I think july 4th is probably worse. Either way, they hate both of those holidays. Ross, do you hate thanksgiving . No, i dont hate thanksgiving. 400 years ago, they gave thanks for the pilgrim fathers to leave, i think. There you go. They didnt want us anyway. Now look what happened. Oh. Hes 007. Good luck with the turkey, by the way. Thank you, ross. We appreciate it. Have a great day or so. Well see you back here on friday. They probably dont like any of our holidays. Christmas. Very jealous. They have places in london with a good thanksgiving. I remember when i lived in london, ross could participate in this. That was big of him. I was going to ask him about thanksgiving, but he extended a happy thanksgiving. I could tell it was tinged with a little resentment. Not from ross. Still to come on squawk, we have a wellknown name to our viewers. Jim chanos, hell be joining us in just a few minutes. Before you hit the road, heres your travelers check. Trying to get somewhere for the holiday . According to orbit, here are the busiest airports this thanksgiving weekend. So, which airports may be a lot more stressfree . Find out next. [ male announcer ] you are a business pro. Monarch of marketing analysis. With the ability to improve roi through seo all by cob. And you. Rent from national. Because only national lets you choose any car in the aisle. And go. You can even take a fullsize or above, and still pay the midsize price. Im going big. [ male announcer ] good choice business pro. Good choice. Go national. Go like a pro. I heard you guys can ship ground for less than the ups store. Thats right. Ive learned the only way to get a holiday deal is to camp out. You know weve been open all night. Is this a trick to get my spot . [ male announcer ] break from the holiday stress. Save on ground shipping at fedex office. Chicago and l. A. X. Will be the busiest airports, here are the airports which will be the least busy. Welcome back, everybody. Reynolds wolf is standing by at the weather channel. Hes got a look at your thanksgiving forecast. Whats the forecast like today for all these people who are hitting the roads, trying to fly to the places they want to be tomorrow . Well, hold on a second. What was that video you just showed about the places that are the least busy . Im going to show you the places that are the most busy. Ill get to be the bearer of bad news . Yes, take it away, reynolds. The eastern part of the country is going to be just fine. Windy conditions can be expected along the carolinas. Its going to be very breezy out there along highway 12. Mostly sunny today in the midwest. Central plains look good. Temperatures in parts of the midwest will be ten to 20 degrees above normal. Unfortunately, its not going to last. We get the wind, the rain, the mountain snow continues. But now, air travel, okay, the bad news. Lets begin. In seattle, portland and san francisco, you could see some moderate delays in a few places. Dont be surprised, the wind really picks up this afternoon. We do expect it to happen. In seattle, you may have some bigger delays. So far, nothing to report. That could change just by sheer volume of traffic. But in terms of air issues weatherwise, its all going to be out west. These are going to be the two big sores at least travelwise. Lets kick it back to you guys. Reynolds, thank you. And by the way, have a great thanksgiving. Are you back on friday . I will be back here on friday. Look forward to seeing you guys. Okay, have a great thanksgiving. Well see you soon. Bernanke, yesterday the fed chief warned that central bankers cant rescue the u. S. Economy if it goes over the fiscal cliff. Paul is president of financial capital. Given that were talking about this so much with these guys not around, all we do is we keep showing how much time we have as its ticking down. When they do get back, paul, how do you think that the deal looks if they do put one together, and do they get it done . Good morning, and happy thanksgiving to yall. We all know its getting done, whether it gets done before christmas or in january, a deals going to get done. I think also everyone knows taxes are unfortunately taxes are going to go up. I dont know its going to be at the 250 level. Maybe at the 500 or milliondollar level. But taxes are going to go up and expenses are going to get cut. So we all wish they would stop the jawboning and positioning and politicking, sit in a room with dulls, both give in a little bit and move on. But theyre going to push and push and push and the markets will push a deal to get it done. So if you were trying to decide what to do, would you just stand pat with equities . What would you do . You know, weve had to sell off, and for a