Stocks opening higher: Maybe last week's profit-taking has slowed down. Dow is up about 45 points.
Strong retail sales: October's numbers were the best in seven months, helped along by increasing demand for autos. (AP)
Wal-Mart to add hours: Most of its stores will open at midnight the day after Thanksgiving. Just hope there's plenty of security on hand. (AP)
Loehmann's files for bankruptcy: The discount retailer's Dubai owner couldn't reach a debt-extension deal with creditors. But stores are expected to remain open. (WSJ)
Oxy CEO still raking it in: But Ray Irani has slipped to third in the WSJ's survey of top-paid executives, at $52.2 million. Irani will step down as chief executive next year and take a pay cut as executive chairman. (WSJ)
Fed under attack: Republican lawmakers are enlisting Republican-leaning economists in blasting the central bank's latest effort to boost the economy. From the WSJ:
The increasingly loud criticism of the Fed comes as some economic officials outside the U.S. are criticizing the central bank's move to effectively print money, which has the side effect of pushing down the dollar on world currency markets. President Barack Obama last week defended the Fed. The move to buy more bonds, known as quantitative easing, "was designed to grow the economy," not cheapen the dollar, he said. The Fed, despite frequent criticism from both parties, has enjoyed considerable independence from politicians on monetary policy for the past three decades. Organizers of the new campaign predicted the Fed will increasingly find itself caught in the political crosshairs, though.
Get ready for buyouts: Lots of them - global dealmaking is expected to jump 36 percent next year, to over $3 trillion, according to a study. That would be the highest amount since 2007. From DealBook:
The report also predicted that two sectors would shine in 2011 for deals: real estate and financial firms. After being pummeled by the credit crisis, many companies from these industries will need to restructure their businesses, pursue consolidation, divest assets or simply play catch-up.
Auto show opens this week: Also-rans Nissan and Chrysler are expected to introduce several new vehicles as organizers hope that attendance will rebound from last year. From the LAT:
Automakers see L.A. as a "critical" show because the region is an "environment that set a huge number of driving trends," said Jim Federico, GM's engineering chief. "As I drive around Southern California, I have never seen so many Priuses in one place."
Thanksgiving costs edge higher: Milk will be noticeably more expensive than a year ago, according to the American Farm Federation Bureau. Also higher: canned pumpkin, prepared pie shells, whipping cream, sweet potatoes, a carrot-and-celery relish tray, and brown-n-serve rolls. (OC Register)