Before the Bell 11/6/2008

[0:13] ..." things kind of coming back we saw the you know the old Wall Street rumors -- Israel Wall Street just apply in the rumor sell on the news -- the news yesterday is Obama going to be the next president. I"...

[1:06] ..." world and it's coming from Europe because. This morning we have the Bank of England cut their rates by one and a half percent. And that was three times more than half a percent they expect there expect its atmosphere I think is that -- other behind the curve is a little bit of panic what do they know that we don't know. And we also sell European Central Bank about a cut their rates by -- percent of which seems like good news of the little bit fearful -- and everyone's"...

[1:59] ..." have to look at the bright spot it would be the gorilla Wal-Mart they came out there actually doing better than -- their forecasts that sales so. I think that's doing okay we go --"...

[0:07]" Well you know I don't think it was no confidence vote for Obama I think it was a combination of a lot of things kind of coming back we saw the you know the old Wall Street rumors -- Israel Wall Street just apply in the rumor sell on the news -- the news yesterday is Obama going to be the next president. I think what really caused that occurred yesterday was mutual funds and hedge funds that they continue to point out there. I think that primarily the key reason what you just got a lot of bad economic news and it's. It's not just the opposite keep coming -- level we saw some of the reflection of that last week when we get those negative GDP numbers showing that looks like there's the recessions. And started in June so unfortunately a little bit more bad news this morning talk about jobs tomorrow. Is the big jobs the monthly number but today we get the weekly jobs numbers and it's the worst -- point -- years in terms of the amount of people that are. Applying for -- point there's three point 84 million people they're using has although if you look at the weekly number they actually showed about 4000 dollar report doesn't drop. In these new jobless claims there's also an agent is coming in from overseas as world and it's coming from Europe because. This morning we have the Bank of England cut their rates by one and a half percent. And that was three times more than half a percent they expect there expect its atmosphere I think is that -- other behind the curve is a little bit of panic what do they know that we don't know. And we also sell European Central Bank about a cut their rates by -- percent of which seems like good news of the little bit fearful -- and everyone's worried about the world -- you know problems coming up so I like. The good news right now for the -- it was there after Lowe's -- this morning right that is it is done sixteen. Does down one point six NASDAQ down 29 total price of a couple dollars around 63 in the cycles of about tenets of 52."

[1:47]" Not enough. And it -- some numbers out today that's not good about 60% of the retailers led the quick -- here not making the grade so. It is a big date big -- a lot of these ridiculous little I guess we have to look at the bright spot it would be the gorilla Wal-Mart they came out there actually doing better than -- their forecasts that sales so. I think that's doing okay we go -- the list are committed to have better target was. There's sales were actually down four point 8% that was 2% were expected. Abercrombie and it's been really get hit their same store sales were down to 40%. -- he -- softball percent -- post knows it was actually. Up 1% simple bit bigger -- quite meet their expectations and that you can look at Macy's Dillard's and they were offered a six and 8% respectively so I think it's going to be a tough time in the in the retail that your."