As for todays market agenda, there are a number of key economic releases to be watching. At 8 30 this morning, we get weekly jobless claims plus the Producer Price index. Later this morning, theres manufacturing pmi, the philly fed survey and leading economic indicators. In earnings central today, retail is once again the key them this morning. Companies reportsing before the bell include target, dollar tree, Abercrombie Fitch and game stop. Well be watching closely after what we heard about walmart. Andrew, over to you. Thank you, becky. We have Corporate News this morning. The government rejecting fair homes recapitalization proposal of fannie mae and freddie mac. Heres what happened. Obama adviser Gene Sperling arguing the only way to revamp the home loan market is through what he calls proper Housing Finance reform. He didnt directly refer to fair homes proposal, but he did say that the administration cant allow fannie and freddie to be recapitalized in the current corporate form. Last week, bruce berkowitzs firm announced it wanted to buy the Mortgage Backed security insurance businesses of fannie and freddie by bringing in 52 million in new capital. A trading slump in Goldman Sachs now tied to a currency trade in the Third Quarter. A bet on the dollar is said to have gone very wrong. The wall street journal reporting that the previously indus closed trading mishap played a big part or at least a part in the revenue slump that led Senior Executives to defend the firms trading strategy. Yum brands will combine the u. S. And International Versions of kfc and pizza hut. Sales at yum china restaurants have taken a hit since chemical residues were found in chicken from some of its poultry suppliers china late last year. There was a restaurant called chicks in pies. Kind of gross to me. I dont believe thats what the Real Organization was going to be. The question is, where is the jacket . Your jacket. Over there. Why, though . You go on for the first time in the history of show over there without a jacket and you do it without comment . I do it without comment. Can you tell me, what were you thinking . I didnt think the jacket was looking great. You are so vain. You didnt think this one looked as good as your other jackets can it you, this says more about you than about andrew. Because im obsessed. You are obsessive compulsive. The first time in two years. I said to myself, i dont like this jacket and then i took it off and what was the end of that. Thats how it happened. It is big news. By far. Ill tell you, the must read, i love the headlines. My favorite thing today is the very top story, very first headline in the journal the fed released policy minutes saying they do plan to stop bond buying. At some point. You said it was qe. So is it possible that there was a proposal on the table to continue this . Forever . Is this really news that they still plan at some point to pair back their bond purchases . Did someone write that with a straight face . Its hard to write a headline that sits in there. Dont write a headline that you know, this just in, were all going to die actually, this just in, you need to breathe to stay alive. Lets see what weve got here. Maybe we can repeat some of the journals profoundness here. In washington today, the Senate Banking committee is expected to back the nomination of janet yellen as the next fed chair. That nomination will then be sent to the full floor for confirmation and then well get started. And i guess the real question, does the bernanke, does he get it going in december . I think he should. I think theres a very good possibility for this. He said no. If you get another good jobs report not anytime soon. Im saying soon. But i am although the futures this morning being up 52 well, the market was down 70 yesterday. 66 points. Come on. It was down based on what they said. The idea that this is like the longest threeday losing streak in two months its horrible. Gut wrenching. Whatever. Its gut wrenching. It should go up every day. It could go up every day because theyre never going to end the bond buying. The futures this im still i dont know. I count on things, you know . Some things, i count on you and your but its just in your mind, so you walk past the mirror. Thought, i dont really like the way my jacket is looking today. Im going to go without it. That was pretty much the assessment. It didnt take that long. I realize i do like it when you do it over there. Because the two of us in a two shot look like the same person. Because youre wearing the same ties. You know what i almost did this morning . A bow tie. This is cable. I tried to put it on. But i was running out of time. Thats what you were talking about because in makeup, you told the girls i was playing with it this morning but i couldnt get it to work is what he said. He said that. And i turned around and i went, oh, my god. This squawk ward moment has been brought to you by joe kernen. That is joe kernen. I had the hair dryer on so i missed the first part of the conversation. I turned it off and i hear, i was playing with it this morning and i couldnt get it to work. I go, did you wake up your wife . Did you consider that . Because she knows how to tie a bow tie, right . Very good. Lets go to the market. I get a kick out of myself. There it is. But you know that. Up 48 points this morning. You said 60. Or 50. Its 48. It was 50 a minute ago. Well see what arent we getting some claims numbers and stuff today, too . Yeah, we are. 8 30, initial jobless claims and that could very well be some of the data the fed is watching. I could help you, by the way. With his bow tie . Yes. Anyway, lets check out the oil boards this morning. Oil has been weak. I can, yeah. No, i cant. Ive got something for you. Anyway, you can see it, 93. 76, down 9 cents. Its well below 100. Well see whether all these guys that say oil can never go down again, see whether theyre right. Are we at 1. 34 on the euro . Ten year first. That is. You saw that yesterday. It happened immediately. And the euro immediately went under, which looks like whatever they said was more hawkish than what people thought. Its time for the Global Markets report and Ross Westgate is standing by in london where i would say a higher percentage where bow ties, over here, people that do it look like Orville Redden babacher. Over there, its still done, but by a higher percentage, too. But not by you. I would say, actually, nearly everybody that i interview now wearing a bow tie are american, joe. Thats weird. Ive seen americans go over there and start calling it rubbish and say ive been standing in cue. Aluminum. Yeah, yeah, like madonna. Suddenly shes british. Geez. Isnt she from chicago or something . Detroit. Yeah, from detroit. Now she speaks like, you know, like princess di. Anyway, so the americans are the ones that are doing it. Thats funny. Yeah. I cant remember the last time i interviewed a brit that actually was wearing a bow tie. And in the city where you thought you i dont see any. I think its sort of gone. The only time you see it is at a black tie event. Well, thats okay. And, you see, im with you. With the tux, i think the other ones you look like an actor. You look like he didnt think it was important enough to put on a formal to put on formal wear. Do you think its okay . I think that looks much a tux looks much better how do you feel about a mandarin collar with a stud . Do you remember when Denzel Washington used to that . Ross, i didnt know and becky is not up to speed on this that at a truly formal dinner, the casual dinners, you wear a black tux. But at a formal dinner, theyre still uppity, someone wore a regular tux and people were whispering about it, look how he shows up here like hes living on the streets. Hilarious. It was the butler. The driver is now part of the family. It was him and he had some you know the guy im talking about, right . Yeah. Yeah, yeah, yeah. The chauffeur. The chauffeur. Not butler. The younger daughter who died and yeah, yeah, yeah, oh, thanks. Im so far behind im insulated from but this person who dont tell me. Get the box set, becky. Im going to. And sit down for over a weekend. Im going to. You might get confused because she die necessary childbirth and she comes back like no, that doesnt were mixing. Walks out of the shower and nothing has changed. That was a different series, wasnt it . Sorry, ross. But we digress. Here we are. Lets move on. We are 6 to 3 just about, decliners outpacing advancers at the moment. But were up at the best levels of the day. Data today has been the focus of european equities ahead of the u. S. Open a little later. Mainly out of the eurozone. Slightly mixed in some ways and a growing die vern die vergeanc. What we saw was german pmi ticking up for the month of november and the flash estimates better than expected. The french number, very disappointed. It was 50. 5 in october. The French Economy contracted in the Third Quarter, down 0. 1 . And if activity levels stay in negative territory, theres now a fear france might be tipping back into recession which over here is defined as two quarters of contraction. But that is now the fear. Growing divergence between those two economies, we have growing data out of the uk. It improves not quite as much as we thought, but there is now a chance that the uk will borrow less than originally forecast by the office of budget responsibility. Take a look at the sector breakdown. Theres some reaction today to the chinese pmi data. The hsbc data, pmi at a twomonth low. Weaker than we thought. Basic resources down as a result of that. And thats just about it for me. Apparently the director is telling me weve got some treat. I have no idea what it is. There we go. That is me doing my whoa. Wow. Be still my beating heart. My bbc impersonation. Seriously, ross. Looks like rhett butler. Hes handsome. Youre more handsome there than normal. Is it the moustache or what, do you think . The way he has his eyebrow cocked. You see, thats a letdown there. Really, that was rhett butler. Very nice. Frankly, my dear anyway, okay. We cant be we need a johnny quest. We need your lips moving in that shot. I wish we could do that. See you later. Thank you. See you, ross. Oh, this is yours. We have some other news this morning. Butler, yeah . Really . While you guys study ross butler, we have news this morning on tesla. Consumer reports saying that the model s has taken the top spot in its car Owner Satisfaction rating. Owners of the tesla model s gave it a 99 out of 1 his 100. Ive heard that number before. You heard from Consumer Reports about a month or two ago was actually that they had the highest safety record. 99. And i believe it was a 99 or something. This is about satisfaction. But, of course, this comes as the car is also under some government scrutiny. Phil lebeau caught up with the head of national highway safety, the safety at Administration Late yesterday about its investigation into the tesla s. Once we made that decision and once we talked to tesla about that decision, they were more than open about saying we want the highest level of scrutiny, we want to cooperate with you on every level of this investigation. They feel very strongly about the quality and safety of their vehicles. We have a lot of questions to have answered. Theyre willing to step forward to the plate and be collaborative is very positive. Thats a very positive statement from the government. Usually its much more contentious. Take a look at what strictland had to say about how long the investigation might take. No time frame. We really want to get this done right. Sometimes investigations take a week, sometimes they can take several months. I have no notion or real indication how long this will take. But with tesla being willing to be proactive, hopefully it will be on the shorter end than the longer end. There will be a lot of volatility around this trade for quite a while. The stock now trading at about 120. 50. It was off, close to 200 earlier. 99 on both of those. Its like you know, do they have something on these people . Consumer reports, thats thats pretty good. It is. And thats why im anxious about they cant i cant imagine i mean, Consumer Reports, like my dad for toasters, everything. Everything. He used Consumer Reports, you know . U. S. Regulators have blocked automakers from promoting Vehicle Safety ratings of more than five stars. This comes three months after tesla touted an outsized for its model electric car in a press release. The announcement adds to tensions between the national highway Safety Administration and tesla. They seem to be singing kumbaya together. You know what i mean . Theyre happy campers. Happy campers. What our cliches can we use . Kumbaya, thats why i used the happy campers. Its yours . Yes, it is. Sears holding just came in with quarter le results. It looks like the retailer lost about 5. 03 for the Third Quarter. That was wider than the 3. 39 share loss than analysts were expecting. Revenue was shy of estimates, as well. Down 4 in the sears chain. If you look into this release, theres a lot here. Eddie lampert is talking about how they are trying to change this into a member centric retailer. I dont know exactly what this means, but if they are trying to make this whole thing into a Membership Club like a sams or a coastco where you pay a membership fee that comes in. He does say they are spending lots of money, millions of dollars, trying to transform transformations of this scale are challenging, but we believe were making progress and were seeing how many years has it been . Ten year increases. A lot of years. The poster child. They are going to these places. I have to say, when you walk into these places, they for years have not reinvested in the store. Its hard to find someone to help you if you have questions. This makes it sound like theyre reinvesting, but its definitely going to hurt their earnings. But it had been years and years since they have properly invested in these stores. And it catches up over time. Its like casino business. If youre not constantly putting money back into it, people dont want to come. Apparently theyve done very well on line. Well, the stock is here. You saw the stock, right . Market cap of yeah. Its done better from 45, but remember how much it went up on what supposedly was going to be unlocking the real estate . They never did that, no. All right. Here we go. Coming up, why American Airlines says getting an upgrade to first class could be as simple as making an online bid. But first, as we head to break, alex wallace joins us from the weather channel. I dont even know how to follow up with that. Lets talk about the forecast here. Weve got some snow this morning in and around denver. Light snow, pretty cold. Could make some slick spots this morning for the commute. Ill be watching the area from the rockies into the plains. The risk of snow continues today. Tonight, we see that shift farther south. Potential icing conditions, panhandle of texas, including amarillo, back up across parts of the southern plains. Active weather here in the middle of the country. Well be watching the temperatures drop quite a bit. But then tomorrow morning, 20 degree drop in temperatures. So folks on the east coast want to be looking at this closely, including new york city. Here is how youll fare as we head on through the next few days. By monday, expecting highs in the low 30s. Thats your national forecast. More squawk box coming up next. Announcer before the hit the road, heres your travelers check. Do your vacations turn into business trips . Expedia found that 67 of americans check work emails and voice mails while trying to get some r r. Thats less than folks living overseas. So which country spends the most time on the job while on vacation . Find out next. vo you are a business pro. Maestro of project management. Baron of the buildout. You need a permit. To be this awesome. 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. aaron purrrfect. vo meeeow, business pro. Meeeow. Go national. Go like a pro. Tdd 18003452550 life inspires your trading. Tdd 18003452550 where others see fads. Tdd 18003452550. You see opportunities. Tdd 18003452550 at schwab, were here to help tdd 18003452550 turn inspiration into action. Tdd 18003452550 we have intuitive platforms tdd 18003452550 to help you discover whats trending. Tdd 18003452550 and seasoned market experts to help sharpen your instincts. Tdd 18003452550 so you can take charge tdd 18003452550 of your trading. Announcer india, with 94 of workers constantly checking Office Emails and voice mails. Welcome back, everybody. Right now, its time for the executive edge. This is our daily segment focused on giving Business Leaders a leg up. A group trying to encourage Washington State to keep up its fight to secure work on the new boeing 777 placed an ad in the Seattle Times yesterday. But there was one problem. The top of the full page ad shows a picture of an a320. Thats a plane made by rival airbus. Boeing executives have been meeting with officials in the states interested in landing work on the new aircraft after the companys Largest Union rejected a Contract Offer last week. The funny thing is, this ad says the future of washington but its an airbus plane. Theres two pieces to this story. One is the screw up that was a picture of the plane. The other is whats going to happen on the ground, which is whether theyre going to build the 777x in washington or the elsewhere. Thats what the ad is about. Thats what the ad is about. But its funny that they put but guven whativen whats go with the union, its possible they could go to other states. Its a plane. Its got wings, windows. But youre talking about in seattle where you have a lot of people who work for boeing. Its a more adve