Of the month. That being about 80. We are moving higher. You see this morning. Our road map starts with what you might expect. These markets are surging overnight on central bank action. China unexpectedly cutting Interest Rates. Mario draghi promises more aggressive stimulus in europe. It is a big morning for dan loeb. Dow chemical and third point reached an agreement. Management changes at hertz and sothebys which loeb is on the board of also expecting to change their ceo soon. On the earnings front, gap cuts its profit forecast. That stock is moving lower. And the president announces executive action on immigration. There are vast economic consequences. House Speaker John Boehner will respond in a few minutes. Want to start off welcoming back my friend. My dear friend. Thank you. Thank you for being back. Your dad wants you back at work. Bop loved you. You know that. You knew that for many, many years. Pop loved you. I did. He loved the work we did and he wanted you to get back to work. He did he loved this show, loved our partner carl. Thats me and pop at the eagles game. There is me and pop at ginos. Im glad im back. Thats what pop wants, pop wanted. He loved the show. He loved this network. He watched it religiously. The darn hospital didnt have cnbc. That was a crushing blow for him. He wanted me back to work. He wants everybody to watch this network. He loved it. Loved mad money. 7 01 p. M. Pop telling me what he liked, what he didnt like, which ceos were phony, which ones were worth buying. He had the goods. He did. I remember him from the squawk box days. A huge supporter of ours. Jim, we are going to get to it now. Talking about business, of course. The dow are poised to open at record highs thanks to central bank related news. Ecb has begun buying assetbacked securities amid concerns of low inflation or lack of inflation. The peoples bank of china takes steps to bolster that countrys slowing growth. Announces a cut in its benchmark oneyear loan rate by 40 basis points which is now 5. 6 . The first reduction they had there since 2012. Adding fuel to the fire, so to speak, broadly speaking, of course. Our fed is the only one that seems to be moving in a different direction. Our earnings and revenues are the only ones moving. Policy divergence is interesting today. We didnt mention japan. The yen getting stronger today for the first time in a while. This policy divergence is interesting. Will be interesting to watch how it plays out and what effect it has on markets around the world. Today very positive. To me, it almost feels like worldwide action. Like yellen will come out later today. What would she say . I think that these moves are great. Mouthing something positive. When everyone else is loosening, she is tightening. Germany must play ball. I dont care about draghi. I need merkel to come out and say draghis right. Draghis not been the man. He has the major country against him. China is huge. The housing rally is cool. China was going all the way down. What do you mean when you say that, it was going all what it down . I look at copper. I look at iron. Iron. I look at raw materials. I say to myself, they have to do something to get that economy moving or this government, which is the government doesnt fall over there. No. To put it in some perspective having been there last week and driven back and forth from shanghai, hunxao. Beyond the pollution which is incredible. There is an endless sea of cranes. They are moving at a rate that is incredible. Right. Incredible. Its maybe its not quite the rate it was. It is still rural to urban. Its still the industrial revolution. If they actually did something to try to fix the infrastructure. I know they are trying, but they are still putting up coal plants. They could try harder. They. They are making a choice not to. Right. The deceleration of china, which is in part and parcel the deceleration of europe. No matter what we do, every area other than india, i dont want to say is falling apart, but is slowing. Europe is falling apart. If germany stays the course, im not kidding, its going to be social unrest there. I think its a good point. In conversations i have with ceos who have businesses over there and really see it, they will tell you typically sotto voce. Not good. Europe is falling apart or europe is my achilles heel. They wince a little bit. They do. Its 700 million people. A lot think germany is a disgrace. Is merkel going to play ball . Do you think that will happen . Germany ought to rethink what happened in the 20s. I dont want to tell Herbert Hoover in a pantsuit how her country worked. It was deflation. She ought to get with the history. Draghi said if on the current trajectory our policy is not enough to achieve this, that being get things going, further risks to the inflation outlook materialized, meaning deflation, we would step up the pressure. Do even more, broaden even more the channels through which we intervene altering the size, pace and composition of our asset purchase. That market is not that big. What matters is infrastructure and german spending. What are they doing . They are following hoover game plan. Thats where the social unrest will be elsewhere. They have done their best to foment on their size. Our president doesnt put pressure on germany. They are our trading partner. It aint spains fault, not italys fault. France has to do more. Germany is going to get draghis got mexico and a balanced budget. They are a disgrace. My inlaws were from germany and they are good. I mean enough. Enough. We move from the broad macro themes on this idea of easing to another theme which is activism. Really such an influence in our overall markets and whats going on in the board rooms around this country. This morning dow chemical and third point reached an agreement. Dow is going to add four independent directors to its board. Third point will vote in favor of those nominees at the 2015 annual meeting. This of course putting aside what might have been a very nasty proxy fight that many of us who follow this closely expected might very well come to the fore. Dan loeb made no secret of his desire to see dow potentially split the company. That he is not as enamored of the ability of management to execute effectively as he might otherwise be. This does distract the heck out of you. How about 25 of his time . Lets talk about these gentlemen. Steve miller. He is not a joker, toker. He is a professional board member. Ray took Foster Wheeler with him when he retired. He was a guest on mad money he is a hitter. Ray is not going to stop until they do something. These are the kind of guys who will be activists internally. I continue value. Look what he did with Foster Wheeler. It was a company that was going to go out of business. Miller is a total heavyweight. The nonexecutive chairman for aig for some time. How many times have we seen him do great things . He is a serious guy. I would point out dows board will now increase from 10 to 13 members as of the first of this year. This does put to the side the prospect of a nasty proxy fight. It was going to be ugly. Liveres will seep his job. Returned a lot of capital. One of the best performers in the s p. Best performer in the chemical group. As you know, loebs charge is it can be performing so much better if they didnt do stupid stuff. Which he believes is i look at it the other way. A lot of other Chemical Companies have done more stupid stuff. I am friendly with nelson pels. I find the newfound activists are going after companies that would be going after stocks that go up anyway. They cant lose. We made this point. Many seem to target companies where the downside would be limited. Dow is up from 30 at the beginning of 2013 to where we are now is not a bad move. Activism got to jc penney. We have House Speaker boehner getting ready to issue a statement on president obamas action on immigration. Well take you to capitol hill when somebody shows up behind that podium. Lets give you another look at futures this morning. Broadly speaking, a very strong rally as a result of all that rate cutting, inflationbolstering moves. trader vo i search. I research. I dig. And dig some more. Because, for me, the challenge of the search. Is almost as exciting as the thrill of the find. announcer at scottrade, we share your passion for trading. Thats why we rebuilt scottrade elite from the ground up including a proprietary momentum indicator that makes researching sectors and Industries Even easier. Because at scottrade, our passion is to power yours. There is Speaker Boehner responding to president obamas move on immigration. All year long i warned the president that by taking unilateral action on matters such as his Health Care Law or by threatening action repeatedly on immigration, he was making it impossible to build the trust necessary to Work Together. As i warned the president , you cant ask the elected representatives of the people to help you enforce the law when you cant be trusted to enforce the law. The president never listened. He refused to listen to the American People. The president has taken actions he, himself, has said are those of a king or an emperor not an american president. Hes doing this at a time when americans want nothing more than both parties to focus on the bigger problems in our country. The action will only encourage more people to come here illegally. And putting their lives at risk. This is a humanitarian crisis. This punishes those who waited their turn. With this action, the president has chosen to deliberate ly sabotage any chance of enacting bipartisan reforms he claims to seek. As i told the president yesterday, hes damaging the presidency itself. President obama turned a deaf ear to the people he was elected and we were elected to serve. We will not do that. In the days ahead, the peoples house will rise to this challenge. We will not stand idle as the president undermines the rule of law in our country and places lives at risk. Well listen to the American People, work with our members and we will work to protect the constitution of the United States. You all know what the rules are. Mr. Speaker, the president says you could have prevented this, mr. Speaker, by showing that the house was going to take action on comprehensive immigration reform. Did you miss the boat . The president made 38 unilateral changes to the Affordable Care act. The president repeatedly suggested he was going to unilaterally change immigration law. He created an environment where the members would not trust him. And trying to find a way to Work Together was virtually impossible. I warned the president over and over that his actions were making it impossible for me to do what he wanted me to do. Mr. Speaker, can you tell us how you plan to respond how the house plans to respond and whether or not you agree with chairman rogers given how these things are funded, the power of the purse through appropriations is not a constitutional avenue to fight this . We are working with our members, looking at the options available to us, but i will say to you, the house will, in fact, act. Can you renovate that . Can you reinvigorate it and move that forward or start from scratch . As i said at the beginning of my remarks, we have a broken immigration system. The American People expect us to Work Together to fix it. We ought to do it in the democratic process. Moving bills through the peoples house, through the senate and to the president s desk. Thank you. Happy thanksgiving. That was Speaker Boehner responding to the president s move on immigration last night with some very strong words. Warning the president saying the president cant be trusted to enforce the law. Saying he sabotaged any chance of bipartisan cooperation and essentially saying we are not going to stand for this. What am i going to say . The fact we have to talk about this stuff. The fact this is where we are back is not good for the stock market. Im not going to talk about immigration. My beliefs dont matter. The discord, the lack of acknowledgement by the president about the tuesday win by the republicans, the lack of the republicans being able to agree on this issue for years. This is the talk of shutdown. This is the talk of debt ceiling. This is the talk of things that caused an incredible selloff. Just be aware of that. Im not saying boehners right, the president s right. Im saying this is the stuff of declines. If we have to start worrying about all these darn things again, about some sort of budget and we have to have treasury secretary on, hold up the budget, hold up the debt ceiling, hold up the payment of the bills, the market doesnt matter. Immigration reform, tax reform, energy poll system not that any of us expected it would take place over the next two years, it seems to have diminished any possibility. Do you believe that to be the case . Yeah. I think there was a sense, again speaking from the market. When the republicans had their win, so to speak, that this would cause the president to alter his view. Those who believe in the president , believe in those positions, god love you. Those who believe with the republicans, okay. I am talking about the market. It means all the things that hurt the market. I care about the darn market. Yes, he does. Well get back to talking about that market. Weve got cramers mad dash as we count down to the opening bell. Opinions. Theres no shortage in this world. Who do you trust . Whose analysis is accurate . How do you make sense of it all . A simple, unbiased stock score consolidated from the opinions of independent analysts. Is that too much to ask . Nope. Equity summary score, powered by starmine, will help you execute your ideas with speed and conviction. And its only on fidelity. Com. Open an account and find more of the expertise you need to be a better investor. Get to the terminal across town. Are all the green lights you . No. Its called grid iq. The 4 51 is leaving at 4 51. They cut the power. Itll fix itself. Powers back on. Quick thinking traffic lights and self correcting power grids make the world predictable. Thrillingly predictable. We are setting up for a far higher open this morning on this last trading day of the week. Because it is friday. I have a keen sense for the obvious. Its time for the mad dash. We have a lot of different earnings. People have to understand some guys execute better than others. Even with the lower gasoline prices and its low. Even with employment getting better, an outfit like gap stores, they just dont have it. They dont have the assortment, the merchandise, they are not executing well. This is like an urban out fitters. Youve got Banana Republic, gap, old navy. The opposite is foot locker. They have a conference call. There is a big bull market in foot wear. This is part of it. Nike boosted the dividends. Its a bull market. It makes me want to go back to finish line. I see it with my 12yearold boy. Holy cow. Personalized sneakers, everything. You are talking about one of the great operators. Again, ken hicks credits his team. I credit ken hicks, hes good. Game stop. I thought they could pull it out. The stuff is, the Research Today is could they screw it up again . Take two has been terrific, activision. Its best buy that did well. Game stop has a transitional quarter in terms of the hardware. Still, i mean you cant own the ones that did badly. They dont come back. When you see what you think is a misstep resulting in a quarter that didnt go well dont bottom fish. Buy vf corp. 50 states had 32 degrees. Well keep an eye on all those names. Talking about activism, not just dow chemical. Well have a rally if youre long this market. Female announcer its posturepedic vs. Beautyrest with up to 400 off. Serta icomfort and tempurpedic go headtohead with three years interestfree financing. Mattress price wars are ending soon at sleep train. Your ticket to a better nights sleep [annits working forny. New york state. Already 41 companies are investing almost 80 million dollars, and creating 1750 jobs. From long island to all across upstate new york, more businesses are coming to new york. They are paying no property taxes, no corporate taxes, and no sales taxes. And with over 300 locations, and 3. 7 million square feet available, theres a place that is is right for your business. See if startupny can work for you. Go to startup. Ny. Gov. You are watching cnbc squawk on the street. Opening bell will start ringing in a minute and a half. Hertz put a new ceo in. John tague. You have icahns people on the board. Holder had been rattling the cage. Never seen a proxy fight going after a board thats already had activists on it which goes to the point of usually you want to wait to appoint your activists when the nominating deadline is done. Its not clear janet is going to do anything at this point. I call it a mixed review is what ive heard about this appointment of this new guy. A lot of hedge funds wanted Scott Thompson who ran dollar thrifty. He brought out tremendous value. Hertz would be up big. Chairman and ceo of great wide logistics. Before that eight years at United Airlines as president. Knows the travel industry. I dont want to prejudge. Its not the guy they want. Well see. The stock not doing much. In contrast with sothebys. Lets get to the opening bells. As we are poised for a rally. You hear that bell right here. S p 500 looking pretty green. That was Monogram Residential trust ringing the bell, celebrating an initial Public Offering today. Over at the nasdaq, fast casual burger chain the Habit Restaurants celebrating its ipo. People love that one. I got a lot of outpouring when i said i didnt know it, its regional. They do love it. Its not in and out, which is another one. We are getting two things that havent happened here. Ross stores, great quarter. Retail and oil go up. People said oil went too low. Retails got that tail wind additionally of employment. This is the best of all possible words moment. Right. Europes got some religion. China, weve been waiting and waiting. Guess weve been waiting. Right. China is much more about the commodities story. Its not a great deal of incoming demand in terms of on the consumer front. Its almost reverse, about 33 of the economy versus 67 here. One of the things people have been talking about is china has been importing. Its very difficult. 500,000 barrels less. Obviously,