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Pre-Market Primer: Obama Makes a Bold First Gambit; Retail Sales Fall
MINYANVILLE ORIGINAL After yesterday's declines stocks are set to open higher today as Cisco (NASDAQ:CSCO) beat profit estimates. President Barack Obama went into budget negotiations yesterday and demanded another $1.6 trillion in tax revenue over 10 years much of which will come from expiration of tax cuts for upper-income earners. Last summer the House Republicans rejected a revenue increase of $800 billion. Today the president will host a talk with several corporate executives from companies such as General Electric (NYSE:GE) Ford (NYSE:F) and Walmart (NYSE:WMT). Retail sales fell 0.3% in October. This is a wider drop than the 0.1% ...
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