but first, here's cnbc's chief washington correspondent john harwood. john, good morning. >> good morning, carl. velma hart burst into the nation's consciousness by telling president obama directly her frustrations about the economy. now we know that she was under more pressure then than any of us knew. this is the life that velma hart told president obama about this fall at a cnbc town hall. >> i'm one of your middle class americans and quite frankly, i'm exhausted. i'm exhausted of defending you, defending your administration, defending the mantle of change that i voted for. >> reporter: hart became the face of the president's problem. >> a black lady financial analyst veteran. we have found obama's crypt knight. >> the gap between the promise of his campaign and the reality of his presidency. the self-described finance geek was even signed up as a cnbc contributor. but she wasn't just exhausted, privately she was scared.

she talked to the moderator of that september town hall meeting, cnbc's john harwood about what happenedoday. >> i think for me, what's in my heart is now, even more than i d before, i appreciate what millions of people who are in my condition now have been experiencing for the last two, three, four years. >> by the way, you can hear more from her on "power lunch" tomorrow on cnbc. >>> for more than one american generation, november 22nd will always be the dapresident kennedy was shot. a new bookust out is full of the imagery of those years. it's called "portrait of camelot" full of family photos by the white house photographe back then. they include jfk's christmas eve in palm beach, making sure the stockings were hung by the chimney with care. incredibly cute john jr. on a boat in august of '63. jauelineennedy on a boat off cape cod while caroline naps on a summer day. video released includes first family dip in the untain, the backyard of the white house on the soutlawn. and for the first family, of course, it all came to an end on this day, 1963 in dallas, texas. >>> when we come bac

becky quick, also at cnbc's headquarters for us this morning. thanks very much. >> thank you. >>> tax cuts, earmarks, a potential devastating blow to a new arms treat with russia. what about bailouts? the lame-duck congress is juggling a very full plate. up next, we'll talk to senator orrin hatch, who is in line to become the top republican on the senate finance committee. >>> and when will the first republican presidential hopeful step forward? the gop is actually off to a slow start in the race to 2012, at least when you compare it to the last two decades. but first, a look ahead at the president's schedule today. as you can see, got a little meeting about afghanistan. there's another awards ceremony. no on camera briefing. and by the way, at 6:30 tonight on the nbc news with brian williams, the new nbc/"wall street journal" poll. you're watchin ing thing the da rundown on msnbc. >> yay! no! no! no! no! aah! >> that's your water? it's bad water. isn't that right? >> healthcare that goes everywhere. hey, lawrence, my parents want to talk to you

last two, three, four years. >> by the way, you can hear more from her on power lunch tomorrow on cnbcor more than one american generation, november 22nd will always be the day president kennedy was shot. a new book just out is full of the imagery of those years. it's called "portrait of camelot" full of family photos by the white house photographer back then. they include jfk's christmas eve in palm beach, making sure the stockings were hung by the chimney with care. incredibly john jr. on a boat in august of '63. jacqueline kennedy on a boat off cape cod while caroline naps on a summer day. video released includes first family dip in the fountain, the backyard of the white house on the south lawn. and for the first family, of course, it all came to an end on this day, 1963 in dallas, texas. >>> when we come back here tonight, tom brokaw takes a look at who's on facebook, and the answer is, it's probably somebody you know. the middle of this special moment and i need to run off to the bathroom. i'm fed up with always having to put my bladder's needs ahead of my daughter. so today i'm

that's it from cnbc. back to you, cenk. >> thank you. we come back, we're going to talk about the immigration story. why are illegal immigrants paying lower tuition than some u.s. citizens? i know we teased you a lot on this, but it's a hell of a story. plus, people paying real money for virtual real estate. something wrong with your squeegee, kid? uh, i'm a little sick. sick?! you gonna let a sore throat beat you? you're fearless! ahhhhhhhhh! atta boy! [ male announcer ] halls. a pep talk in every drop. so i've come up with some mnemonic devices to help me learn your names. hello, a "penny" saved is a "penny" earned. oh, that's 'cause fedex ground helps you save money. that's right, penny. do you know ours? heavens to betsy. dwayne the bathtub. magic wanda. yeah! what's mine? uh, you're a dan fool. oh. it's just a device, dan. you can't take it personally. yeah, i suppose. [ male announcer ] we understand. you need a partner who helps you save. fedex ground. [ male announcer ] we understand. you need a partner who helps you save. [ malh

. >>> i'm hampton pearson with your cnbc market wrap.t in the trading day. the major averages mostly flat to slightly positive. the dow down four points. the nasdaq up barely one point. chairman ber bernanke is striking back at critics of the $6 billion bond buying effort. he spoke today at a banking conference in germany. >>> shares of general motors slipped on the second day of trading. gm stocks dipped as low as $33.11 today. that's more than 3% under yesterday's closing price. that's it from cnbc first in business worldwide. cenk, back to you. >> thank you, hampton. now milissa rehberger is here with a look at t the ne news headlines. >>> the president announced the nato plan for afghanistan in lisbon a short while ago. >> just as we have full agreement on the concept, tomorrow our nato allies and the afghan government will work. our transition to full afghan lead between 2011 and 2014 and the long-term partnership that we're building in afghanistan. >> the president's statements come on the heels of an announcement from the pentagon

that is it from cnbc right now.'s back over to you. >> wild weather is moving across the country just as we approach the thanksgiving holiday. in washington state a vicious storm closed schools and businesses. the big question is what to expect from the weather the next few days. so chris warren is joining us from the weather chabl nnnel. chris? >> we do have some tricky spots. this is a map with threat for wintery weather. this is a blizzard warning for utah, parts of colorado and montana. we'll adds winds as the arctic front plunges to the south and to the east. we'll see nasty conditions coming up in a few hours in salt lake city. here's what's going on. we have one line of showers working from the lower mississippi valley all the way to the northeast. it will be moving the through by tomorrow. the snow we're seeing now will likely cause problems on the roads throughout much of the day tomorrow as the system moves off. so here we go. thanksgiving eve. the forecast for tomorrow. the area of low pressure right here

cnbc is worth $3.9 billion. msnbc is worth $2.6 billion. there is only one guaranteed conspiracy, glenn, the conspiracy to take money. >>> former house speaker, newt gingrich talking about boycotting any presidential debate if he didn't like the moderators specifically msnbc. when democrats objected to cnbc is worth $3.9 billion. msnbc is worth $2.6 billion. there is only one guaranteed conspiracy, glenn, the conspiracy to take money. >>> former house speaker, newt gingrich talking about boycotting any presidential debate if he didn't like the moderators specifically msnbc. when democrats objected to democrats appearing in a presidential debate, this is junior-grade stalinism on their part. mere hypocrisy would never be enough. newt sees things. >> there is no possibility i would ever go to a debate and have olbermann or chris matthews asking questions. i watched the debate a couple years ago. it was an embarrassment. they were so relentlessly hostile and so left wing that every question they asked of the republicans was designed to embarra

john harwood is cnbc's chief white house correspondent. john, i know the white house views this as a twofer. when they go to kokomo, indiana, they can view this. >> the president is making the point stimulus and chrysler paid off big time despite the charges he attracted by those steps that he expanded government and spending and deficits. of course the president has gotten in the last 24 hours an uncomfortable reminders of the depth of the economic pain. velma hart, the woman who became the face for disappointed americans when she told the president she was exhausted at our cnbc town hall meeting in september has now lost her job. she was laid off last week. she told me she now has more of an appreciation than what she ever did before of what millions of people have been going through. >> could it take me two years to find a job? that's a scary proposition for my family. right now i want to focus on the positive and be optimistic and assume somehow things will work out. >> savannah, velma hart told me she's a data driven person. the data

velma joins me now from our cnbc studio.u for your time. >> thank you. >> the president is speaking now, as i mentioned. he's in indiana saying these are examples or this plant is an example the economy is getting better. here now you have have been laid off from your job. how do you feel about this president and the way the administration is handling the recovery? >> i don't think so my opinion about the president changed based on my condition. it's unique to me. it just happened to be a shared position with millions of americans. for me personally i think i'm a little disappointed for where i am, but i understand that some difficult decisions have to be made. and i'm trusting my former employer made what was a difficult decision. >> the executive director said the decision to lay you auz was pure lay business move. had nothing to do with your work and the job you were v you were performing. the unemployment rate was 9.6. now you're back in the game where people have been looking for days, week, months -- >> years. >> i don

john harwood, cnbc's chief washington correspondent on capitol hill. thanks very much. >> reporter: you bet. >>> staying on the tax front, the tax adviser to president obama signaling the white house may bend on the bush tax rates saying that extending the rates for the wealthy may be the only way to ensure the middle class keeps their tax relief from the last ten years too. here's what david axelrod told the "huffington post." we have to deal with the world as we find it. i don't want to trade away security for the middle class in order to make that point. john boehner's spokesman this morning says he's happy that the white house agrees with the republicans course of action. what's interesting here is the timing, by the way, of the deficit commission's co-chairs report which has a huge centerpiece of it is massive tax reform at the same time that this debate is just about to begin on what to do with these bush tax rates/bush tax cuts. anyway, we'll see if it has any influence on the debate itself, be it one year versus three years. a lot more on the d

cnbc's tyler mathisen takes a look at the world of business. >> it may be a short trading week on wallt. it will be long on economic data as well as traveling, shopping and turkey eating. the government comes out with an updated reading on gross domestic product for the latest quarter and xpikted to sh xpect that the economy grew more than previously thought. look for a lift in the struggling real estate market. sales of homes should be higher for october. just in time for black friday shopping, personal income should be up last month and consumer sentiment, expected to rise as well. maybe that's why one analyst predicts 138 million of us will go shopping during those three days after thanks giving. >>> aaa says more than 42 million americans will travel at least 50 miles from home. just as gasoline prices and airfares edge higher. tuesday is the last day residents and businesses can file a claim for emergency financial relief from bp caused by april's oil rig explosion. the latest book from former alaska governor sarah palin, "america by heart," reflections on family, faith, and flag

we love talking to cnbc headquarters here in washington. it was a good day. we can thank gm for this, i understand. >> absolutely. weighed big rally. all three major markets were up. the dow d the s&p 500, best days in two weeks. the tech heavy nasdaq had its biggest day. gm was the driving force. you can actually seewall street and main street. it is a succs story. we heard president obama talk about it. they go from bankruptcy and massive layoffs to profitability and returning to the markets. all three u.s. auto companies now are profitable for the first time in six years, saving thousands of manufacturing jobs and taxpayers are likely to get repaid a lot of the billions in ose bailouts of gm in particular. >> will that come from the okay? is that how that will work? >> yes, in part. because you know, the treasury department and therefore, the u.s. taxpayers, we are stockholders in the new gm treasury is selling portions of the stock that it holds as part of the ipo. i had, as a matter of fact, between the paybacks and the stock ipo sales today, treasury ha

so with us now cnbc's becky quick. becky, how soon would gm get back into the dow jones average, become one of the 30 big companies again? >> that's the question we've been asking all week. that's actually something we're dieing to find out because gm when it went into this chapter 11 bankruptcy, got kicked out of the dow jones industrial average. but with this new ip o it will probably have a market capitalization of about $22 billion to $23 billion. that will make it much bigger than those in the dow jones industrial average now. this is a his tore day today chuck and savannah. gm is the iconic mayor dan company back from the dead. it's going to be listing on the new york stock exchange, trading opening up in about 19 minutes, not that we're counting or anything. everybody is trying to find out where the stock is going to kickoff trading. it kaemg in pricing at the high end of expectations, $33 a shaefr. we spoke earlier with steven rattner t auto czar responsible for restructuring the company. he said he wouldn't be

courtney reagan watch and listened to the entire speech and more now from cnbc headquarters. it was riveting television? >> riveting, not so much. we did get the text ahead of time. there was a question and answer panel afterwards. stocks futures are flat to lower ahead of the opening bell after yesterday's strong rally. investors responded to the positive return to the stock market after going through bankruptcy and bailout. we will have to wait and see what happens for the second official day of trade. markets were enthused by better than expected reports by a smaller than expected rise for people filing for jobless benefits. like you said, we have been listening to comments from ben ber nank whoa is defending the $600 billion programs in frankfurt. we will start trading at 11,181. the nasdaq posted to the upside to start at 2514. help wanted signs are up at google. they plan to hire more than 2,000 people, roughly half of those in the u.s. most appear to be full time. you can find out more at jobs.google.com. >> have a great weekend. american airlines trying to make flying

i'm joined by cnbc's amon afterers.u know the budget office is projecting a federal deficit of 1.3 trillion just for next year. what does that mean for the average american? >> it's really scary. american is sort of basically like a blind man inching up to the echblg of a cliff. we know the cliff is there but don't know where exactly and when we'll fall over it. here's how the u.s. balances its budget now. basically we sell treasury bills to investors including foreigners like the chinese and other people interested in buying t bills. and when we do that we're borrowing money from overseas to finance current deficits. at some point though the buyers of those bills may wake up and say we don't think this is a good deal anymore. the united states might not be able to pay us back. at that point if that ever has that's the nightmare scenario. that's when interest rates skyrocket and the united states suddenly finds itself in a position of not being able to borrow all that money anymore and when we have a fiscal train wreck

we need that here at cnbc. that's it from cnbc.o you. >> we don't have that here either. >> what can you do? >> one day. we can hope. thank you. >>> after nine long years, prince william finally asked kate middleton to marry him and now the focus shifts to the woman who will join the royal family. did you know it turns out she's a commoner? she does not have any royal blood and despite the fact that her parents are millionaires they're still considered commoners in great britain. middleton, who had aggressively pursued prince william earlier was later overhead saying that he was lucky to be dating her. so it turns out they're just like us after all. no much how much the guy might seem like prince charming, he eventually turns into a frog. at least in her eyes. neal was at the official announcement of their engagement. he joins me now live. neal, first of all, let's tackle this commoner thing. americans aren't used to this shenanigans. do these commoners have any chance of breaking through to be royalty other than marrying a prince?

on that front, treasury secretary tim geithner told cnbc today the u.s., quote, will never seek to weaken the u.s. currency as a tool to grow the economy. >>> on the street yesterday a dip in jobless claims filled optimism the economy is on the mend. >>> a new report shows a not so surprising drop in the amount of foreclosures last month after lenders temporarily stopped foreclosure filings in the wake of an industry wide fraud probe. google in back in the hot seat over allegations its street view mapping tool violated privacy laws. this week, it's being investigated just two weeks after the federal trade commission closed its inquiry. >>> boeing shares took a dive after shutting down the dreamliner to determine what caused cabin smoke in the cockpit on tuesday. >>> and finally, you could soon be sitting next to your favorite actor in coach. if approved, a proposed union deal could require screen actors to fly economy class in exchange for a pay hike and more benefits. >>> a wall with no bricks, a sweet big apple return, and a major blunder in high school football. plus, the utah jazz mak

we turn to courtney reagan live at cnbc world headquarters. hope huh a great thanksgiving. >> it was a nice thanksgiving, but definitely back to work. it will be busy on wall street. we lost steam and there is some relief. $113 billion bailout for ireland and we are keeping an eye on the korean peninsula and that is making markets nervous around the world. no economic data today, but we get news on home prices, consumer confidence, auto sales, manufacturing and productivity and jobs reports. trade will begin at 11,092. the nasdaq dropped to 2534, but rose 1% on the week. airlines are adding more seatsas they cautiously get the optimistic travel outlook. the carriers added 3% this month with more flights or bigger planes. we are out with the annual survey with passengers giving the highest marks to virgin america and southwest airlines. back to you. >> holiday shoppers hit keyboards and smart phones for cyber monday looking for deals on line. a vast majority of sales come without sales tax. in 1992, the supreme court issued a ruling shielding o

i'm joined now by cnbc amon jabbers. $3.3 million. >> it's a lot of money especially when the government is running such a huge deficit. when you look at the agencies that have the top number of delinquent payers. what you see the federal agencies which have the most employees where they get the wiggewi biggest totals. the u.s. postal service. employees there owed $283 million, according to this irs study that came out last year. the department of veteran affairs they owed $156 million and retired military personnel, that's where the big chunk of this money comes from. those folks owed $1.5 billion in delinquent taxes. so, there's a lot of money out there that could be captured by the irs if they're able to collect all this money from these federal employees, chris. >> and white house workers, as well, i understand they're delinquent, too. >> that's right. the executive office of the president. now, that includes about 2,000 people. they owed $831,000 in back taxes. so, even at the white house, they owe a lot of money to uncle sam, chris. >> all right, thank you so much for being with us

it is already wednesday in the asian markets and amanda of cnbc is here with us for a look at the impact if at all yet, on these markets. >> you know i was looking a moment ago, brian, at the markets in the region already opened and there's evidence of risk aversion, meaning the markets are down. however, but no means as viciously as we saw the reaction here today in the u.s. and part of the reason for that is, of course, we didn't understand the motivation and we still don't understand the motivation behind these attacks so people, essentially were like, shoot first ask questions later. we saw is u.s. dollar up, the korean yuan down. a typical risk-aversion and we saw the u.s. treasuries rise and u.s.-traded korean shares take falls. today, of course, we're going through the process of trying to find out what happened. and keep in mind, korea has done this before. trying to get attention in the markets and usually the impact in the markets on stocks tends to be short lived. we'll just have to wait and see. >> amanda, thank you very much for that. this happened in a dangerous neighborhoo

for more on that and other news, let's go to courtney reagan at cnbc world headquarters. >> good morning to you. despite the hopeful news that we are pging we are going to get when we get the report futures are under tremendous pressure and lower on continued worries about europe's crisis and the reports today of the squirmishes between north and south korea. asia markets all dropped on tensions in that region. ireland's government may not be able to pass the measures with the bailout into doubt. they dropped on new that is the fbi rated off the hedge funds and insider trading. we will get data on home sales and a look at 3rd quarter gdp. we are thinking it's going to show the economy grew more than originally thought. that is due out in less than an hour from now. trading begins at 11,178. the nasdaq edged up 13 points to 2532. more on the fbi raids. wall street is bracing for more after three hedge funds were traded as an investigation yesterday. they were suspended as level global investors and diamond management and the fbi is staying mum about the investigation. just that it's ongoi

investors are reacting to that and more about news before the bell, let's go to courtney reagan at cnbceadquarters. >> futures are sharply lower and investors are shaken by the statement out of the g20 summit in south korea. there is continued worries about ireland's debt woes and whether they will have to step in with aid. asian markets dropped on speculation that china may hike rates as well. europe is lower this morning. we will get more consumer sentiment. the dow dropped to trade at 11,283. nissan is recalling 586,000 frontier pick up tricks and x terra suvs at a risk it is steering shaft could corode and crack. about 85% of the vehicles made between 2001 and 2008 were sold here in the u.s. nissan is recalling 18,000 sentras because of a faulty battery connection that could cause the car to stall at low speeds. >> good luck to the buckeyes this weekend. >> thank you very much. >> hundreds of yahoo workers could be facing more layoffs. rumors swirl over a possible yahoo merger and rumors of layoffs as well. they are considering cutting 20% of the workforce. "wall street journal" put

. >> let's go to courtney reagan live at cnbc world headquarters. >> good morning to you. futures were flat and we are a bit higher than the opening bell. wall street is off the worst week in three months. investors are hit by a swirl ever concerns including debt issues in europe and talk that china may raise rates and topping $1400 an ounce before it sold off. asian markets higher and europe is turning around a bit so far this morning. it's a busy week for economic data. manufacturing, housing and unemployment ahead this week. we will get retail sales numbers and earnings. the dow fell to 11,182. congress returns for a lame duck session. they have several issues to hammer out before the end of the year like funding for government agencies and whether to extend the push tax cuts. president obama hinted that he would be open to compromise with republicans on tax cuts, but on top of the white house aids, the president is opposed to making them permanent for the wealthiest americans. not clear if he supports a temporary extension. wait and see. >> the rumor mill in high gear

cnbc's tyler matheson takes a look at the upcoming week in the world of business. >> after a week thatn election of fed meeting in major jobs report this week, will feel like a vacation for most wall streeters. the week will be light on economic data and earnings reports. we will get updates on consumer sentiment, weekly claims for jobless benefits, mortgage applications and oil inventories. the budget deficit and trade gap numbers expected to grow wider and we will get key earnings news. macy's should turn a profit because it is selling more private label and kenneth cole clothing. earnings are expected to flat line at disney, viacom and the department store coles. the most watched report will come from general motors. gm expected to report a profit of $2 billion fort past three months. that would match what gm made in the entire first half of the year. conan o'brien returns to late night tv. his show on tbs debuts monday night at 11:00. that's a half hour earlier than nbc's "tonight show with jay leno" and cbs late show with david letterman. >> the memoir of former president bush hit

. >> covering a complicated week, john harwood of the cnbc and the "new york times." janet hook of "the wall street journal." david sanger of the "new york times." and pete williams of nbc news. >> award-winning reporting and analysis, covering history as it happens. live from our nation's capitol, this is "washington week" with gwen ifill. produced in association with "national journal." corporate funding for washington week is provided by -- >> we know why we're here, to give our war fighters every advantage. >> to deliver technologies that anticipate the future today. >> and help protect america everywhere from the battle space to cyberspace. >> around the globe, the people of boeing are working together to give our best for america's best. >> that's why we're here. >> there have been a lot of markets up and down lately, but anne and mike made it through. they stuck through their plan. now they're thicking about what's next. as their financial advisor i reviewed their complete financial picture. they're reallocating some of those assets so they don't have to rethin

cnbc's trish regan is here with a reality check. trish, 151,000 jobs sounds like a lot. why isn't it making a dent in the unemployment rate? >> reporter: you're right. it was a a lot. in fact, it was twice as much as any economist had been anticipated. but the fact is we're still at 9.6% on the unemployment rate. one reason is because a lot of people that previously wanted to be in the workforce but had bowed out because the economy was so bad, they want to be back in. and so now they're being counted in these rosters. the other reason -- and this is the harsh reality here -- is it's going to take a lot more than 151,000 jobs being added to the economy every month in order to make a dent in the unemployment rate. it takes, lester, 100,000 jobs being added to the economy every month just to keep up with population growth. so, really, we're looking at needing 300,000 jobs to really start to see that 9.6% come down. >> also in these numbers we saw -- it looked like a pickup in temporary workers being hired. is that a sign of hope? >> reporter: well, it certainly is, because

. >>> i'm melissa francis with your cnbc market wrap.s trading mixed most of the day ending right about where they started, the dow slipping 15, the s & p up a fraction, and the nasdaq moving six points higher. investors trading cautiously today, wondering what the european union has in mind for dealing with ireland's debt crisis a team of eu and imf experts will land in ireland tomorrow to begin hammering a rescue plan. >>> back here at home, an avalanche of strong earnings and outlooks, target, chico's, bj wholesale better-than-expected earnings and strong holiday forecasts. >>> home builders took hate, housing starts fell to an 18-month low in october. mortgage applications falling to their lowest level in four months. >>> and gm is back. it just priced its ipo at $33 a share that is the high end of expectations on 478 million shares of common stock. it starts trading tomorrow under the symbol gm that is it from cnbc first in business worldwide. now back to "hardball." >>> welcome back to "hardball." i'm michael smerconish. republican

cnbc it's the 90 and then you come on.hter) id guys fought each other >> was a bar and a small city chose a rich guy who i think you know where every penny is in tampa >> more than me he's the bank. >> so you make all the decisions. he has more than you. have you find each other? how did this happen. >> we've been looking at sports teams together apart and together. we learned we like each other we fail together we acquired a couple teams with on this opportunity we said we have to do this one. cycle, and said peter let's go. the truth is it's fun doing it with someone there's enough blame to go round. >> i want to do the show biz and go peter did that and that's what people want to know with nicholson and tell the story about jack ms. olson back and deal. where he ended up with 50 million bucks because he did not pay an up-front right? >> he was smarter than me he said all that on the fell he said all that on the back and $50 million to be chasing the back and forever. he was chasing for us forever to collect all the mone

that's it from cnbc, first in business worldwide.ball." >>> welcome back to "hardball." late today, vice president biden presided over the swearing in of two new u.s. senators who beat tea party candidates two weeks ago. west virginia's joe manchin, delaware's chris coons. senator coons join us now. thanks for being on "hardball." >> thanks for giving me a chance to be on with you. i'm going to talk plenty of substance, but what's the coolest part so far? i see you got the pin. did they paddle you yet? >> no paddling, michael, no. i would say the coolest thing is being able to be here with my whole extended family. my wife, our three kids, my parents, stepparents, in-laws, cousins, nieces, nephews. the vice president took us all on a behind the scenes tour and took some pictures with us after the swearing in and we got to talk as a family. that's probably the best part of the day. >> did the vice president have any particular advice that you're willing to share? >> he encouraged me strongly to come home every night if i possibly can.

cnbc's jeff cutwhere live in london. good morning, jeff. >> reporter: good morning to you. two big stories to keep an eye on. one is the market itself. we have that biggest single day drop in three months yesterday. the dow has now taken back all the gains we've seen over the last month. so that's something to focus on. one of the other stories that will feed into that, of course, is the g.m. ipo will price today. they're hoping to raise about $18.5 billion. remember this company took nearly $50 billion from the u.s. government to stay afloat. they used some of that money raised to pay down the government's holding. so that's going to be big news later on through the session today. back to you. >> all right. we'll be watching that one, jeff. thank you very much. >>> still ahead on "way too early," front-page news. i tell you, espn was about the only safe hiding place yesterday from prince william and his fiance. why is everyone so obsessed with british royalty, or are they actually? andrea mitchell will try to help us understand. >>> plus, manufactured scandal on "dancing w

cnbc's geoff cutmore is live in lond london. good morning, geoff. >> good morning.verseas retail sales strong in the u.s. for october, 1.2%. that was better than the expectations. autos, the big standout in that area, it would seem that americans are prepared to spend again. so fascinating story. will they be buying apple songs from itunes. apple, with an announcement, we're expecting it some time this morning. they are suggesting or at least the rumors are that they will finally get apple songs through itunes this deal with emi has been a long time coming, if it gets signed, it means they will be able to please, please me, finally. back to you. >> it was just a question of which song you were going to use for that joke, jegeoff. well done. the beatles are one of the last holdouts, which is the world's biggest music retailer now. most reports suggesting that the beet les now will turn over their catalog to be sold on itunes. >>> still ahead on "way too early" -- michael vick puts on a show as the eagles knock out the redskins in the first round of their monday night

on that front, tim geithner told cnbc today, the u.s.ill never saek to weaken our currency as a tool to grow the economy. the economy is on the mend. and a new report shows not so surprising drop in the number of foreclosures last month after several lenders temporarily sought foreclosure filings in the wake of an industry wide probe. google is back in the hot seat over allegations its street mapping tool violated privacy laws. this time the federal communication is investigating. boeing shares took a dive after suspending dream liner test flies to investigate what caused cabin smoke during a 787 test flight on tuesday. and finally, you could soon be sitting next to your favorite actor in coach. if approved, a proposed union deal could require screen actor guilt members to fly economy class for trips under 1,000 miles in exchange for a pay hike and more benefits. >>> a wall with no bricks, a major blunder in high school football. plus, the utah jazz make noise again. coming up with another shocker in the sunshine state. your first look a

cnbc's geoff cutmore is live in london. good morning, geoff. >> hey, good morning to you. well, the early call for the u.s. open is that we will be positive, but our markets in europe are pretty much flat lining at the moment and the concern is all ireland at this stage, whether the country is solvent. some suspicion the government may have to get support here and they're talking about potentially $110 billion worth of aid to come from the european union over the next few years. the irish themselves don't want to do it, but the markets are kind of forcing their hand, saying we're not sure whether this country is still fiscally safe. so that's the big news flow. we're watching out to see any announcement on whether there will be a support package for the irish at this stage. it's keeping markets nervous. back to you. >> that's a big story, front page of the papers here. irish officials insisting they don't need the help of the eu. still ahead on "way too early" -- tom brady gets man and remains handsome while doing so. a sunday matchup of afc heavyweights as the patriots go

cnbc has more live from zurich. good morning, carolen. >> reporter: good morning to you, great to see you again. and general motors reports third-quarter earnings at 7:30 a.m. and you know what, markets already got a pretty good taste of what these numbers could look like because last week general motors said it expects a net income of $1.9 billion to $2.9 billion on revenues of $34 billion. so we'll get details on the numbers later on in the morning. but really i think g.m. executives are rather busy with drumming up support for next week's ipo. just to remind you, g.m. will be selling 365 million common be shears for between $ -- shares for between $26 to $29. with that the company is expected to raise some $13 billion if everything goes according to plan. this would be the second biggest ipo in u.s. history. of course, after visa's ipo early in 2008. that's it for the moment. back to you. >> good news for g.m. thank you very much, appreciate it. >>> still ahead on "way too early," sarah palin visiting a school in

that's it from cnbc first in business worldwide.ack to "hardball." >>> welcome back to "hardball." the late new york senator, daniel, patrick moynihan favored things missing from today's debates. steven wiseman is with us now, he is with the peterson institute for national economics, the editor of a fabulous book called "daniel patrick moynihan, a portrait in letters of an american visionary" one of the beautiful books i have come across and joined by an inside expert, lawrence o'donnell, great colleague, a superstar of prime time, host of msnbc's "the last word," served as senator moynihan's director of the senate finance committee and other high responsibility. i will start with steve and go to you for the color, lawyer reg, since you worked with him every day this book is a reminder in this time, this thicket of mediocrity we are in now there is a memory august recent memory of a senator who had a vicious he sought end of the soviet union coming, he saw the need for rapid rail, he saw the need to make washington a beautiful city.

cnbc's steve sedgwick is live in london with news for us. good morning, steve. >> yeah. very good to see you. we spent all year talking about various e.u. debt crises. the greek one seems to be sorting itself out. now we have the irish which is captivating market attention. now the irish bow to what many say was inevitable, agreed to a bailout package. ministers have welcomed this saying if this gives stability to the broader markets it is welcoming. there's always the next crisis on the agenda and people are beginning to worry about portugal and space before we sort out the detail of what will be an irish bailout package which which think will mean the e.u. and imf coming up with in the region of 80 to 90 billion euros. in return for this three-year package seems the irish will have more strenuous cuts. 15 billion euro cuts over the next three years. the question is can the irish people afford it and will this put a line under a lot of the e.u. sovereign debt issues probably not. back to you. >> thanks so much. that, of course, headline news across the country in the fi

for news let's turn to courtney reagan at cnbc headquarters. >> reporter: futures right now slightly lower this morning and that's after we've seen markets fall for a second straight day on tuesday. investors continue to be worried about europe's debt problems and whether the fed's bond buying stimulus program will spur runaway inflation. we'll get data on unemployment, the trade deficit import prices as well as more earnings, as earnings season marches on. the dow lost 60 today to start trading today at 11,346. the nasdaq lost 17 points to 2562. >>> lawmakers are promising to work together to prevent more than 20 million americans from being hit with an additional tax aimed at the very wealthy. democrats and republicans in charge of writing tax rules have told the irs they'll act this year on the so-called minimum tax. it ensures the superrich pay at least some income tax. because it's not adjusted for inflation, congress has to alter it each year to keep middle class taxpayers from being hit. quite a nightmare for many folks out there. >> courtney, thank you. >>> another major airl

cnbc's jeff cutmore live in london, good morning, jeff. >> reporter: hey, good morning to you. well, you can't keep a good story down, can you? g.m. coming back to the markets was definitely a good story. and that generated a lot of positivity in the session yesterday with the major indices and the states up about 1.5%. boy, what a difference we've got today. right here in frankfurt, your federal reserve chairman, ben bernanke, is on his feet telling the world why the united states needs $600 billion additional q.e. at this stage, saying the economy is still at too high a level of unemployment. and of course the federal reserve has to do something about that. the other thing that he's doing while he is here in europe is justifying if you like the impact of this q.e. on the rest of the world. let me take direct low from his speech. "the committee announced this month it would purchase additional treasury securities. in taking that action, the committee seeks to support the economic recovery as i noted. the evidence suggests that asset purchases can be an effective tool in the fi

cnbc's geoff cut more live in london. hey geoff. >> good morning to you. well that story will be interesting for what it does to the banks. we are in negative territory at the european open. much of that to do with the irish situation. we are looking for news on a new budget from ireland. also, some more details on what this bailout package is going to look like here. brian colin, the prime minister, under a great deal of pressure, we're probably going to see parliament dissolved and fresh elections in that country but he says he will pass the 2011 budget first. one other story that might be interesting for your audience, the president and vice president biden heading out to cocomo today to the chrysler plant there, just to talk to workers. it's been a tough, tough past few years for that particular business and there is $300 million of new investment going into the transmission business. he'll just be there sharing a few thoughts with those who plow through the worst of it. back to you. >> all right. geoff caught more, thanks so much. we appreciate it. >>

. >>> meanwhile for other news before the bell let's turn to courtney reagan live at cnbc world headquartersreporter: futures slightly higher. investors are fretting over fresh debt crisis in europe, this time in ireland. eu officials weighing a possible bailout. commodity prices also sank on talk china could impose price controls to fight inflation. that's signs of a potential economic slowdown there. mcdonald's is already taking action, raising many prices in mainland china. we get data on consumer prices and housing staurgts of the target did beat the street reporting 74 cents per share. the dow fell 178 points tuesday dipping below 11,000 at certain points but closing at 11,023 which is where we open today. the nasdaq dropped four points to 2469. >>> gm revs up the engine on its ipo which would be the world's largest ever. that's what we are on track for because gm increasing the number of shares it's selling to 478 million. pricing between $32 and $33 a share. that means it's going to raise about $22.6 billion. that is more than china in july. washington will still have a say over manag

. >>> now for more on news before the bell, let's turn to courtney reagan live at cnbc headquarters.eporter: good morning to you, scott. stock futures are pointing us to a flat to slightly higher open on wall street. stocks did post mild gains tuesday with the nasdaq hitting a year high, but investors remain cautious ahead of the fed's big announcement this afternoon. the central bank is expected to launch a new round of economic stimulus by buying billions in government bonds to drive down borrowing costs for both consumers and businesses. but economists say the action may do little to lower unemployment and that is the big worry that's hanging over the markets in both the public and private sector. investors may also be a little worried about gridlock in washington. it may not end up being so good for the markets. typically split government is bullish for stocks as it means less interference in the matters of regulation and private business, but the current in fighting could result in government inaction on issues like taxes and cutting the deficit, things businesses do care about

let's bring in cnbc nicole lappan live from cnbc headquarters.ood morning. >> good morning to you, guys. this is what i call a meat and potatoes kind of monday. this after markets had their dessert, the candy of the fed stepping in with the $600 billion bond buying program. investors want the vit michbs, they want the spinach. retail sales at 8:30. wanting to see if the consumer bounced back ahead of black friday. we have retail earnings as well with lows before the opening. we're looking ahead to nordstrom. we'll be looking at the implementation of qe-2 which officially set sale last week. today we're getting $7 billion to $9 billion in purchases from five to seven-year notes. this week we have a big buy, $35 billion. why are we watch that specifically? last week we kicked off the program. and yields actually rose into that option which is not exactly what the fed had in mind. then, of course, somewhere the rest of the world that we will be looking to, not in the likes of the "snl" skit you just showed, but a lot of head wind, of course, in all