but what matters is that macy macy's -- get out of my way -- had earnings. that's what i care about. how can we overlook that? that's called profits. that's what we're in the game for. why not temper expectations? the road to bad pr and endless short selling is filled with companies that overpromised and underdelivered. macy's got smart. less inventory on hand. fewer mark-downs. better back-to-school and christmas seasons coming. that's what we want. see, that's what makes the stock go higher. because now they won't have to throw sales and get rid of merchandise they bought for the summer at cut-rate prices. that will cause gross margins to go up, which is what the real buyers care about. the stock buyers. no, no, no. the press cites poor sales by big macy's supplier liz claiborne. as an indicator of the health of macy's. talk about being too negative. liz is getting its butt kicked by jones apparel. its most ferocious competitor. talking to liz about macy's sales is like talking to burger pawn and not mcdonald's or wendy's about hamburger sales. false tell.

macy's got smart. less inventory on hand. fewer mark-downs. better back-to-school and christmas seasons coming. that's what we want. see, that's what makes the stock go higher. because now they won't have to throw sales and get rid of merchandise they bought for the summer at cut-rate prices. that will cause gross margins to go up, which is what the real buyers care about. the stock buyers. no, no, no. the press cites poor sales by big macy's supplier liz claiborne. as an indicator of the health of macy's. talk about being too negative. liz is getting its butt kicked by jones apparel. its most ferocious competitor. talking to liz about macy's sales is like talking to burger pawn and not mcdonald's or wendy's about hamburger sales. false tell. or how about urban outfitters that had a meager same-store sales increase. but the earnings were okay. come on. the earnings were amazing. they were sharply ahead of what even the biggest bulls on wall street were looking for. i'm sure someone can talk about the same-store sales, but to me it's amazing th

macy's sales were down, but their profits actually beat expectations. which means that when these guys can plan what's going to happen in the economy, when people who run businesses are let alone to do their work, they can actually still make money even though sales are decreasing. what screws things up is when the government steps in and starts putting in a cash for clunkers or cash for clothes. it's a really bad idea. >> richelle, how about keep cutting prices and retailers have been doing a great job there. you keep discounting the prices, you're going to attract a big surge for september, october. >> there's only so far you can go on price cutting. and some of these retailers are selling things for below their cost at this point in time. so the retail margin is very, very slim, and you can't go much farther. you've been talking about how much -- what a good job they're doing on cutting costs, but we've got to get the consumer back out there, or there is just -- >> are you in the federation actually lobbying for a cash for clothes? are you actually o

department stores, macy's, nordstrom. the laggards have been walmart, dollar. beaten down so much at the march 9th low when the s&p was at 660. >> i want to keep you on the financials because a lot of the turnaround on the s&p earn sgz based on a big move up in financial earnings. we've seen the consumer remain very subdued. that's a big part of the bank earnings overall. is that going to be a big issue? >> we've also seen weakness in capital markets. the fact that we've had a little flurry, this is probably the worst year for ipos in many years. so far only $6 billion in announced deals. only about $30 billion this quarter. really a horrendous period for deal making. despite fact companies have a lot of cash on hand, a lot of valuations are still depressed. >> what are you talking to your clients about? i know you spend a lot of time evaluating the markets, telling people where to go. where do you think we should be? >> since the beginning of the year i've been favorable in the corporate bonds sector. though they've had a great year, investment grade and high

. >> are you in the first floor of like a macy's or something. >> i'm at macy's in herald square .centrating very well. >> let's talk about the contest real quick, we'll get back to fun. what is it all about? >> it's so simple. they can go to q-tips.com, enter to win vip shopping beauty spre. and a free vanity pack, they should be out everywhere, they're really great. and a beauty rescue summer makeover. >> and hotels, a fantastic beauty shopping spree at macy's herald square , two broadway tickets and a vanity pack. >> that's right. >> the vanity pack. >> the vanity pack. >> we have 45 seconds left. how is life, the kids doing well, dean doing well? >> yes. everyone is doing great. i miss them i'm here in new york, they're back i la, they're doing great. >> you're on vacation, he's mr. mom. >> i'm not. i just want to be there. >> you know what. >> the only thing that can take me away from them is talking about beauty. women love beauty, here i am. >> you passed the audition, next time you're in baltimore, come on in. >> there is the website q-tips.com. have a great day tori. >> yo

macy's is trying to cut costs where it can. revenues are still a little weak at the company, down 9.7% for the quarter. and also on the same-store sales basis, now 9 1/2%. what they're talking about on the conference call right now is the success of the my macy's concept that's taking place right now. they have it now at this point in time across the company and what it is is a very local approach to what they put out in terms of merchandise. now, they said on the call that the my macy's district out performed other stores 2-6%. that's important to note. at this point in time the company is now rolling out that approach throughout the country as opposed to in a few of the areas that are out there on a very macro approach. the companys a come out and said on the call that while they wish all the economy was stronger, they are feeling good about things. couple of notes about what's performing best, what's weakest. they say the weakest divisions are the furniture, mattresses and handbag division. regionally, the midwest is out per

macy's credited aggressive cost-cutting measures with its better-than-expected earnings. despite a drop in same-storm sales of 10%, macy's boosted its profit for the coming year, sending shares up 6%. investors will find out this morning how one of america's largest discounters is fairing when wall street weighs in before the opening bell today. the discount chain is expected to show flat resultses compared to last year at around 86 cents per share. >>> and wall street will get to a broader look at consumer spending habits when monthly retail sales are reported this morning. economists predict july figures will improve slightly, but warn consumers are still feeling the heat from an economy struggle to go recover. consumer spending accounts for more than two-thirds of the nation's economy. >>> finally, if you just happen to have a month of vacation scheduled from september 8th through october 8th, get this, jetblue is offering all you can fly tike ets where passengers can actually book an unlimited amount of flights over a month for just $599. >>> well, suspensions from tu

. >> reporter: macy's, on the other hand, is tailoring merchandise to specific stores. cashiers keep track of top sellers and customer requests to stock the sales floor accordingly. many merchants, even luxury chains like saks and coach, are offering more lower-priced goods to entice customers. these aren't the only changes merchants are making as they try to cope with the weak economy. many stores are reducing inventory. they'd rather run out of hot items than risk heavy markdowns at the end of the season. retailers have every reason to be nervous. last year, many chains reported a dramatic decline in sales, leading to a slew of bankruptcies. retail expert howard davidowitz sees more carnage ahead. >> it will be even worse than last year. more bankruptcies, more store closings. we are going to close hundreds of thousands of stores. we are going to close thousands of shopping centers. it's going to be even worse than last year, which was the worst. >> reporter: it's no wonder many stores are playing it safe with merchandise picks. however, retail analyst brian tunick wa

take a look at macy's. the department store has been struggling but if you take a look at the stock price here it's breaking out over $14 on some nice volume and now perhaps that area becoming some technical support. compare that to wal-mart which continues to be range bound around $50 a share. it as a barometer for overall spending doesn't look too exciting. very surprising what's going on with wal-mart and then you compare it to the other stocks, the retail stocks. look at kohl's. upwards at $50 a share and you take a look at the one-year chart. this this is at 52 week highs. you can't say that about a lot of stocks. also strong performance from j.c. penney. up 67% since january alone and that is a huge performance when you compare to the s&p 500. you wouldn't know that consumers are penny pinching by looking at some of these retailing stocks. we want to hear from you comments at the firstbusinessx.com. of course the inbox is open 24/7. we'll see you online and back here again next time. thanks for watchi

. >> the hit abc announced its new cast, macy gray, donnie osmond, michael irvin. actors and reality show stars including melissa joan hart, kelly osbourne as well and iron chef star mark decascos and former house marriage leader tom -- former house majority leader tom delay. >> i need to see macy gray dance. >> maybe macy gray and tom delay dance. >> i want to see them tango. >> who knew tom delay could dance. now washington is becoming a part of this institution. >> it's always entertaining. >> maybe one day we'll be asked. >> you have to be a star. i think those are the rules. >> i'm not so sure about that. >> we'll be right back. >> things are returning to normal today in chicago as government offices reopen. >> the city came to a near standstill yesterday to help save money. all across the country cities are facing budget problems. barbara pinto reports frfrom th windy city. >> if you wanted to pay a parking ticket in the city of chicago, forget about it. >> this is ludicrous. >> neede to use the library? think again. >>ets a real headache. >> reporter: this f

macy's reports lean inventorien. what should the take-away be?measure retailers for how lean their inventories are. inventories control their sales and their discounts. that means macy's is in great shape with tight inventory while sales compared to last year didn't matter given they were pumped up by government stimulus checks. when are you going to macy's? they don't have any more signs that say 30% off. i used to walk in there and just feel like i should have a big 30% off sign on my head. toll brothers reports a number that's, well, just okay but the mem trick for home builders that i follow is the cancellation rate. who can pay for what they want? how many people walk in can waive the down payment? who can get a mortgage? cancellations are the lowest since 2006. that's when the housing boom was raging. usually bullish takes up the whole group. especially because toll brothers sells $500,000 homes, up. they said as the quarter went on, pricing was better. looks like the market's no longer being killed by home buyers aun able to get financing.

and also said bloomingdales is performing less favorably than macy's and the macy's harold square store has had, and i'm quoting here, a great trend in the last few weeks, steve. they said some of that traffic from tourists is picking up right now. >> very interesting. thanks, rebecca. walmart also out this week. i believe it's tomorrow, yeah, big number. with analysts on average expecting revenues of $103 billion, and earnings unchanged at 86 cents. our next two guests have a buy rating on the stock, but they have really different opinions. david strawser at januariy montgomery scott. and a 83 cent a share forecast. but david, you don't think the consumer is back here. >> no, i don't think so at all. and we haven't seen anything in june or july that gets me excited that spend something coming back. >> but even in that environment, walmart is a buy and can prosper. >> yeah, well, walmart has lagged in this recent rally by a lot and the opportunity, i think, is here. and especially if the consumer continues to stay weak like i think it is right now, people may look to walmart as more def

macy macy's, gap, jcpenney, all raised guidance. some companies continue to report.rcrombie down 28%. american eagle, saks, all double digit decline. number one, still a story about cost cutting and. inventory reduction. still, number two, the demand still remains poor but inventory level are getting leaner and we're hear that consistently. finally, unusual amount of comments from trader rs about the cash for clunkers program and the extent it might compete with retailers. $400 for a car payment every month, less discretionary income. tradertalk.cnbc.com. how are we at the nasdaq? >> just a smidge below 2,000. by the way, ipo the biggest nasdaq ipo of the year, 356 million. start trading at 10:40 a.m. eastern time. i'll have much more on the company next half hour. cisco, you maerd from john chambers on their earnings. listen, this is the step in the right direction. they are cautious about what they had to say about margins. down half a percent. google up just about two bucks. and we have a situation with apple. research in motion had a strong day yesterday. still g

i really like macy's, because i think the my macy program is working. and i think that they can take that $400 million they're saving in expense and translate it into sales with the consumer. and i also like stage stores, which is a small growth retailer. so those are retailers that i think can benefit from changes in their business. walmart being the one that's the most interesting, since it can retain a consumer that probably wasn't shopping with walmart a year ago. >> great. of jan and michelle, thanks so much for joining us. >> up next, trading practices under attack for damaging investor confidence. flash orders to dark pools, should they be banned? >> we'll debate. should we regulate wall street in today's "call of the wild. of" with my new netbook from at&t. with its built-in 3g network, it's fast and small, so it goes places other laptops can't. i'm bill kurtis, and wherever i go, i've got plenty of room for the internet. and the nation's fastest 3g network. gun it, mick. (announcer) sign up today and get a netbook for $199.99 after mail-in reba

we have kathy ireland, macy gray, melissa an hart, mya, ashley hamilton, michael irvin, mark dacascosnd sting with us now very excited to go ahead. with the next eight, shall we begin? who wants to go first? >> i'll go -- >> thank you. i appreciate that. that's a big honor. >> all right. who do you got? >> kelly osborne. >> kelly osbourne. you know her from the season "the osbournes." her father ozzy osbourne. can she dance the way her father sings? >> can't wait for dad to show up. >> oh, that's going to be -- that's going to be a party. that'll be good. >> and the osbourne family and the osmond family on the same -- >> there's a reality show. the osbournes versus the osmond. >> could you please not curse? could you please not curse. who is number two. >> our next contestant, a sharp talking takeharge hollywood publicist on the series "entourage" debimazar. >> all right, next one. a little bit impartial. ultimate fighting champion, he's a titan. >> in fact, he did a cameo appearance on "entourage". >> this man has been on "entourage." >> hall of famer. >> light heavyweight category,

kathy ireland, miss macy gray, martha joan hart, mya, ashley hamilton, michael irvin, mark dacascos,zar, chuck "lights out" liddell, natalie coughlin, joanna krupa, louis vito, aaron carter and mr. tom delay. >> we're nervous. guys, i can hardly wait for this to start. it'll be one of the best seeings yet. >> i'll tell you, it is a three-night premiere starting september 21st and i always love it when we get back together and get the whole gang together and see what you guys bring to the ballroom. >> the people here are very excited. donny osmond, huge expectations and a tremendous -- >> oh, come on, chris. oh, please. >> grew up watching him dance. >> huge expectations. >> celebrated performer. stakes are tremendous. >> a little bit rock 'n' roll. >> oh, a little bit salsa. i'm a little bit salsa. >> lights out liddell versus provo, utah, see it on "dancing with the stars." >> that's it. should be a great season. >> our thanks to both of you, mr. osmond, good luck to you going forward. mr. bergeron, always a pleasure. >> see you in the studio. >> the ballroom. >> there you go. >> th

macy's report its outlook is improving. less lot for las vegas. the number of visitors there has fallen for 13 straight months. fewer people in a game -- gambling mood. some worry if washington is handing out easy money. daylights' -- bailout may have only reporteewarded wall street. >> that brings us to our watercooler question of the day. e-mail your response to watercooler@wbaltv.com >> connie executors' -- county executive's gather for a conference regarding budget concerns. >> the opportunity is invaluable. i think everybody has to do it with an eye on managing it in a response will manner. >> why are we doing this? what about you doesn't have for the people we are serving? -- what value does it have for the people we are serving? >> it is 68 degrees on tv hill. >> treat people like him is not like cattle. that is what this is seeking. what's a strange incident that left dozens of people stranded on a plane for six hours while sitting on a one-way. it is calling for some new laws. >> it looks like volume is picking up at this early hour. an u

i think macy's ka be propelled further. >> the other is cher win williams.paint. >> this has been strong, but you throw a coat of paint on it when you are buying and selling. >> when you are depressed, you throw a coat of paint on it. at least inside. >> paint uses a lot of natural gas. you can get a double whammy. this market is so hostage to oil. it didn't matter what the case schiller was. we are totally hostage with oil which is a nutty thing. >> your final creative point of the day, the biggest owner of homes in america are not the builders although they rallied. it's b of a, jpmorgan and sadly against their will, they are the biggest. >> they have the inventory and it's marked down to extremes in the case of jpmorgan. i think jamie diamond marked it down more and it will be worth that. >> i can't believe he's a media mogul. very funny. all the newspapers. >> he's good. i bumped into a producer friend of mine who he said is he that good? no one is ever as good as you read about, except for him. >> thank you, jim. >> thank you. >> tonight on "mad money"

macy's gained #.5%. >>> wall street will be looking for more good news when a report on new home sales is expected to rise for a fourth straight month. updated sales of durable goods like autos and appliances is also expected to rise. >>> australia gave the go ahead for a development of a natural gas field that will export $41 billion of energy to china over the next 20 years. they have agreed to buy 2.25 million gasper year. >>> in an effort to offset an expected annual loss of $7 million, u. s. post office is offering buyouts. as many as 30,000 will be given the buyout option in what could save the agency half a billion a year. >>> anheuser-busch is betting u.s. beer drinkers are willing to pay higher prices for its bruise. they plan to raise prices this fall despite declines sales. >>> the owner of papa john's pizza was delivered good news. after launching a nationwide search, john has been reunited with his beloved 1971 camaro he sold more than 25 years ago to launch his business. the price, a cool 225,000 grand to the current owner who had paid just 4,000 for the car. >>> well, la

shares of macy's fell 5% ahead of its earnings report due out tomorrow. best buy gave up more than 5% of its value as investors await this week's consumer spending reports. mcdonald's said budget conscious customers are eating and drink up the deals. the firefighter food chain credits its new line of coffee drinks with a global surge in same-store sales which soared 7.2% across the pond. 2.6 here at home. >>> gm customers in california will be able to do haggling online. they have partnered with ebay in an effort to boost west coast sales. >>> zillow.com is reporting despite a drop in home values topping 12%, the rate of decline was down for the first time in two years. with the number of homeowners who owe more than their home is worth still on the rise, questions remain. >>> a federal judge postponed approving a $33 million settlement between bank of america and the securities and change commission. the case stems from charges that boa misled investors about plans to pay merrill lynch bonuses. the court is requesting additional details. >>> if you are t

macy's reports its outlook is improving. less luck for las vegas. the number of visitors has fallen for 13 straight months. fewer people these days in a gambling mood. some warrick of washington giving out easy money, then the odds, and still no news for financial markets have rewarded wall street since the financial crisis began. brooke hart reporting from washington. >> coming up, hundreds of residents have been forced from their homes as a wild fire continues raging out of control in california. a police chase and the fiery crash. it's caught on tape. we are covering the nation next. and a veterinarian here to answer your questions on pets. e-mail your questions to e-mail your questions to i can smile, i can carry on our conversation i do most of the talking yes i wear dentures and they fit wonderful super poligrip acts as a seal between my dentures and my gums super poligrip makes eating more comfortable. even well fitting dentures can feel more comfortable with super poligrip. just a few dabs of super poligrip create a seal between your denture

i have m for macy's.n, c, citi, ba, bank of america, and tsm, i'm thinking about getting in. >> i just have to be sure here, bern ni you said ba, which is boeing, did you mean bank of america or boeing? >> caller: boeing. >> okay. we're set. connecticut guys rock. citi i told you would pull back. moving up too fast. we still like it. 4.60, kind of interest, let i got to $4.50. activation game stock and macy's, the house wears and bed doing well. gmc, boeing, retail and banking, yes, connecticut rocks! our players rock! "mad money" rocks. back after the break. he ran off with his secretary! she's 23 years old! - oh, come on. - enough! you get half and you get half. ( chirp ) team three, boathouse? ( chirp ) oh yeah-- his and hers. - ( crowd gasping ) - ( chirp ) van gogh? ( chirp ) even steven. - ( chirp ) mansion. - ( chirp ) good to go. ( grunts ) timber! ( chirp ) boss? what do we do with the shih-tzu? - ( crowd gasps ) - ( chirp ) joint custody. - phew! - announcer: get work done now. communicate in le

maxx mall stores fared muchorse, where a dole-digit sales skid continued at macy' j.c. penney d abercrombie and fitch. but the news wasn't all ba among the reta winners: discounters like ross, t.j. xx and marshall, which posted sales gains that beat analts' estimate a major coern now is that a new see of frugality is taking hold and parents areocusing on basic necessities li school supplies. so analysts anticipate this puback in spending may extend in to the christmashopping season. >> paul: those disappoting tail sales put wall street o the defense as did profit tang in the financial, tech ancommodity sectors. an hr into trading, the dow was off 40 points th the nasdaq down 18 pois. the market recered over half its early lossess investors digested a bter than expected reading on weekly jobls claims. but stocks fell shorof a positive closen investor caution ahead of tomrow's employment report. e dow dropped 24.71 to 9,256.26. e nasdaq fell 19.89 to 1,973.16. the p 500 lost 5.64 to 997.08. in the bond market, the year note gaid 3/32 to 94 29/32 putting e yield at 3.75%.

alsoomorrow, international trade numbers for jane je and quarterly tdss results from retail giant macy's. >> susie: when icomes to banker's pay, tonighs commentator says the financi crisis has dramacally changed exctations. 's francesco guerrera, u.s. finance d business editor at "the financial times." >> how much a bank is worth? the question is s to exercise poticians, regulators and wall street ecutives for months to come. bere the devastating fincial cris we've just witnessed, few americansbegrudge the fabulous paid packagesommanded by finance. some experts pnted to the miions of dollars earned dealmakers and traders as example ofhe aspects of the american dam. those who work har and he superior skis will receive superior rewards. that argument is no longer heard very often, not afterhe u.s. government h to use billion dollars of taxpayers' money to rescue banks from a crisis largelof their own making. not the middle of the worst recessn since the grt depression where nearly one in 10 americansre unemployed. a lot poor and arier than before the crisis. neverthele, u.s. nks will have

. >> four singers, macy gray, donny osmond, aaron carter, and my up. -- mya. >> she will fall into a category of have-danced before. >> nfl hall of famer and michael irvin, natalie coughlin and ultimate fighting champion chuck lavelle. -- ludell. >> you want to be nice to him every time he dances. >> it also includes actor ashley hamilton, melissa joan hart, and debbie mazar. kelly osborn will give ago this round as well as mark dicasts coast. -- decascos. a couple of models will show off their moves and finally, former house majority leader, tom deleverage is dance moves follow his political persuasion, he is not likely to show up with two left feet. -- tom delay. >> i was shocked by that one. the olympians always do well. we will have to see what happens. we love that show. >> it is fun. >> you love it. don't play it down. there is a lot going on in the tropics. it is high gear but down there -- but >> we will hope -- focus on the hav crao onge air od c code orange today. take a look at our networket and look at bsdetrkhea, it e atlofd and the and we go to partly and mostly sunny s

the macy their biggest practice improvement this week especially with young players. -- they may see their biggest practice improvement this week especially with young players. the ability to maintain consistent intended throughout training camp has been important. >> we have not thought about it. we just kind of take the team where you find it. we have so many things to work on. preseason is an extension of training camp. >> who knows how many wild things wrecks ryan would have said. nothing subtle about him -- rex ryan would have said. nothing subtle about him. one player wore a number when he played for the ravens. time moves on and so do the numbers. it bothers wrecks to see one of this -- rex ryan see one of his former teammates numbers back in rotation. >> we used to put a collage of all of the former players that played for the ravens on defense. michael aquarian -- i am disappointed that they gave his jersey to some ricky. excuse my language. that bothered me. sorry, burris. that slipped out. -- sorey, brucry, bruce. that's led out. >> i am more surprised to see nfl coach tal

i looked at macy's. there was a big options trade.elling options in november indicating macy's may be ranged between $14 and $19 but i have to say i would rather go out and buy options in the retailers because you could see some volatility. i think that's where the volatility comes from in this marketplace rather than the broader market. the broader market is only moving less than 1% a day right now. >> brian, is there anywhere you're seeing right now because of volatility so low when we're talking about a 25 relative to where we were coming from and you talked about the 200-day moving average being about 40 is there anywhere you're seeing opportunities to sell some of the premiums because they are inflated too much? >> yes. certainly. you take a look at the broader markets, the s&p 500, that's a great opportunity to buy that index right now. look at technology. it's been strong and continues to consolidate. take a look at other areas such as some of the oil and services and commodity plays. i think their move up has been a little str

it is like macy's having a 50% off sale. so they see an increase but people already now have the cars. i tell you what, gm and ford sales and chrysler and the rest of them, they will go back in the hole. you moved demand up because of the sale that we had there for a couple of weeks and that is all going to go away. you know, what, though? based on what regina is saying the government saying this is a great program. i wouldn't be surprised that we see a bureau of the cash for clunkers permanent government institution because it is so great for the economy. >> and you will be the czar. >> i will be the czar. >> does this do anything for the economy besides the short-term boost in spending? >> zilch, nada and a big fat zero. i might be able to make sense of cash for clunkers if i bent over so far backwards that i could see the floor. but this, all the large appliances are made in mexico and china so it doesn't do anything for the u.s. economy except for keep a couple of jobs at home depot. >> can i expect a toaster for christm

check out macy's, initially up 3%.you read the commentary today, they see shares up after reporting better than expected results on better guidance. now the stock is indicated lower, $0.20 a share, a nickel ahead of expectations, raised full year profit forecast from $0.78 to $0.80, analysts at 79. we'll see. the market hasn't opened. toll brothers reporting preliminary third quarter results this morning gave us some revenue numbers, luxury home builder said it sold more units for less money, contract rose, but value in dollars fell 5%. initially i thought toll brothers was called up somewhere around -- clearly should have used, didn't ask, 22 and a quarter bid, 22.35 ask. showing that charge, indicated up about $1.70, which is worth noting obviously. >> all right. the bell has yet to ring this morning. already the traders are buzzing about the fed's decision coming this afternoon. we'll get the view from the nyse floor next. before the break, a quick look at the dollar. down but just barely for the dollar index. "squa

a report on july retail sales and earnings results from wal-mart and macy's will offer clues as to whether we're spending more money. consumer spending accounts for 70% of all u.s. economy activity. >>> the federal reserve is doing its part to boost consumer and business spending. the central bank is expected to hold interest rates at historic lows at its meeting this week. the big question is what comes next? the fed is expected to signal that the recession is coming to an end but hard times are not over >>> one of convicted swindler bernard madoff's top lieutenants is expected to plead guilty to criminal charges tomorrow. other madoff insiders may be indictmented soon. >>> gm going on-line. announcing a trial program with e-bay today. most gm dealerships in california will sell their cars on the auction site. customers will be able to browse cars, ask questions, figure out financing and negotiate prices. if the trial is successful they plan to expand it around the country. >>> g.i. joe took command of the weekend box office. it finished in the top spot taking in more than $56 million. it

>> reporter: she trains for three hours a day in 95-degree heat with the legendary coachic -- rick macyo has been known for putting out big stars. >> hustle. >> reporter: butomiation the youngest he's taken on. >> i've never seen anybody that has brought this genetically to the table. it's a journey but i think there's definitely a place for her on the pro tour. >> reporter: her father introduced her to the game the day she was born. and has invested everything in her future, even quitting his job. >> you're not on a holiday. >> reporter: following in the footsteps of other famous dads like earl woods. >> we hear about so many parents in sports pushing their children, wanting them to be the best. >> i just will let mia decide how she goes. some say three hours, that's two long, some on playstations, drinking soda, eating jurng food. >> reporter: he says mia gets to be a kid, but a kid with an agent who is already a veteran of interviews. >> ( indiscernible ) >> what do you like most about rick? >> makes me a better player. >> reporter: she also wasn't shy about giving me tips on my game

macy gray, donny osmond, aaron carter and mya. >> she's one of those people that's going to fall in the. >> ryan: of course, there are athletes. nfl hall of famer michael irving, snowboard champion, louis vito. olympic champion swimmer, natalie coughlin. and chuck liddell. >> you want to be nice to him every time he dances. >> ryan: the biggest dancing cast ever includes actors ashley hamilton, melissa joan hart, and debi mazar. a few of the stars aren't strangers to celebrity tv. kelly osbourne, and mk decascos. models joe anna cube pa, and kathy ireland, will have a chance. and finally, former house majority leader, tom delay. if his dance moves follow his political persuasion, he's unlikely to show two left feet. >>> stay with us for "good morning america," when tom delay will join us live from texas. does the hammer have what it takes to make it on "dancing with the stars"? we'll ask him. >> can't wait to hear what h

a report on july retail sales along with earnings results from walmart and macy's will offer some insight. analysts say investors need to see evidence it is picking up to keep the summer rally going. the dow surged another 200 points to close at 9,370. the nasdaq added almost 22 points rising to an even 2000. >>> asian markets are building on last week's rally. tokyo's nikkei average rose more than 1% today. hong kong's hang seng is soaring, but in london, the ftse opened the week lower. >>> the federal reserve begins a two-day policy meeting tomorrow. the central bank is expected to keep historic rates at an historic low but investors also want to hear the fed's assessment of the economy. they want to know how much longer it plans to maintain some of the special programs it started to revive the economy. >>> bernard madoff could have company in prison. his former chief financial officer frank di pass cally is expected to plead guilty tomorrow after striking a deal with prosecutors. another madoff insiders may soon be charged, as well. he has probably been naming names and expect more ind

retail index is up 15% so far. >> i think goldman went to the sidelines on macy's. i'm not hot on that one. the mall i think it's been a story about rotation. the consumer continued to spend, but they rotated into which stores they like. those stores that you named are the winners and next month they could be different with the skew from going back to school and pushing more towards pacific sun and hot topic and some of those perhaps. i like the space and like i say, i think it shows us a positive going into the fall. >> the one we did not hear from, the world's biggest retailer is wall mart. what can we glean? we have costco and targ missing expectations. can we expect anything along the lines of wal-mart or are they not comparable sf. >> wal-mart is a different beat. you have to realize they have the whole line down. that's why they can do such a thing. i think wal-mart is say good play with safety. i think costco is a different ball game. i would be long. >> quickly, what are you seeing from the carts? lower? >> i'm different. as far as fast money, there is no fa

we're also going to get earnings reports from walmart, jcpenney, and macys, and walmart, of course, will be very closely watched as often seen as a barometer for the economy. we want to see if the consumer is spending and whether they will continue to spend, particularly during the back to school season and the very important holiday season. also this week the federal reserve meets for two days. they conclude their meeting on wednesday, and that statement will be closely watched. we know that the federal reserve, we anticipate will probably leave rates unchanged, but what they say about the exit strategy in coming out of some of these recovery programs will be critical. but really it will be the consumer. right now that is the focus. we've already seen better than expected news on manufacturing in the past week, on unemployment, and now we're going to look toward the consumer to see whether or not that will indicate that stocks will continue to rise. keep in mind though we have seen the stock market go up about 50% since march so. if we see a bit of a pullback with the august doll drums

a number of retailers will be reporting second quarter earnings including macy's, kohl's, and walmart which as dow component. wednesday the federal reserve's open market committee announces its interest rate decision after a two-day meeting. and the international trade balance is released. that's a report on the state of american imports and exports. thursday, total retail sales for the month of july will be reported. we'll get a real window into consumer spending this week. on friday, the consumer price index is released. it's a report on price fluctuation of consumer goods, a key indicator of inflation. thendex of industrial production meanwhile reports how much the country's mines, factories and utilities are producing. that will do it for us for today. thanks so much for joining us. next week we'll be talking about your credit scores. how to keep them high. your number is more important now than it ever was. keep it right here where wall street meets main street. have a great week, everybody. i'll see you again next weekend. >> tim: zero's guest was one of the greatest clutch perf

the losers are mall-based chains like macy's, abercrombie & fitch and stores that sell luxury items. but not everyone had a bad july. t.j. maxx, wal-mart, target, and kohl's all posted small gains, and may have an even better august. but consumers are still looking mostly at price and real need. >> i'm not sure if the other ones -- [ inaudible ] >> reporter: retailers that have brick and mortar stores are offering a lot of deep discounts online. they're out thing the fact that they have free shipping. and some retailers that are exclusively online, they're saying in some states you don't even have to pay sales tax. anything to get consumers to shop. price, sales, and deep discounts on some everyday items are what is most important for shoppers. whether they're in stores early or still enjoying the summer, folks are planning even more carefully how they shop. >> you get what you need and bargain shop. you do the best you can. but at the same time you can't just buy what they want all the time. the school gave us a list of things that they necessarily have to have. and the rest we just

a number of retailers will be reporting second quarter earnings including macy's, kohl's, and walmart which is a dow component. wednesday the federal reserve's open market committee announces its interest rate decision after a two-day meeting. and the international trade balance is released. that's a report on the state of american imports and exports. thursday, total retail sales for the month of july will be reported. we'll get re

. >> reporter: among the nail- biters, four singers -- macy gray, donny osmond, aaron carter and maya she is one of those people that is going to fall into the category of has danced before. she took a lot of training. >> reporter: of course, there are athletes. nfl hall of famer michael irvin, snowboard champion louis vito, natalie coughlin and ultimate fighting champion chuck liddell. >> lights out liddell. that's one guy you don't want to make mad. you want to be nice to him every time he dances. >> reporter: the biggest dancing cast ever includes actors ashley hamilton, melissa joan hart and debbie mazar. kelly osbourne will give ate whirl this go-around as will mark decascos, who is hoping his slice and dice skills in the kitchen will cut it up on the dance floor. models diana crupa and kathy ireland will show off their moves, and finally former house majority leader tom delay. if his dance moves follow his political persuasion, she he is not likely to show up with two left feet. lindsey davis, abc 2 news. >> tom delay, can't wait. >>> well, a maryland man accused of snooping int

macy gray, aaron carter, nya all taking part.ouie veto, olympic swimmer natalie coughlin and chuck lidiel, fighting champion will be there. and even more. this season's cast will be the largest in the show's history. season nine begins september 21st and you can watch all the action here on abc2. >>> good morning. i'm susan schrack. a pretty nice one today though it will be on the hot side. 90 degrees the daytime high. we could see showers and thunderstorms this afternoon and into this evening so be aware of that. some could have heavy downpours that would be fairly long. for the rest of the week we're looking at the same sort of thing. unsettled conditions webs, thursday, friday and all the way into the weekend. at least the first part of it. so we'll have the chance of showers and thunderstorms. it's going to be hazy, hot, and humid all the way until the beginning of next week. >>> let's check the roads with kim. >> thank you. i'm getting word of a disabled vehicle pocking the right lane, that is northbound 95 after 695. southb

singers macy gray, erin carter, and maya are also taking part. snowboard champion louis veto, olympic swimmer natalie coffman and chuck liddell will strap on the dancing shoes. and there are even more. this season will be the largest cast with dancing stars in history. season 9, look, the chef. begins september 21st. i'll have to remember all the names and players. it's going to keep track of them all. >>> still planning a summer getaway? more and more folks are including their four-legged family members, even if it means a plane ticket. >>> hey, if you're looking for something to do this week, maybe consider heading out the cumberland and take a ride on the western maryland scenic railroad. it would sure help them out. operators say they're looking into ways to turn around an 11% drop in ridership from last july. they be offering lower-priced rides to see if that helps reverse the trend. it will be fun for the kids too. >>> if you're looking at a longer trip farther away, do you know what you're going to do with the pets? there are all kinds of