this is "nightly business report" with susie gharib and tom hudson. "nightly business report" is made possible by: this program is made possible by contributions to your pbs station from viewers like you. thank you. captioning sponsored by wpbt >> tom: good evening and thanks for joining us. my colleague susie gharib is off tonight. the holiday shopping season kicked off with a mad rush into stores around the country. today is known as black friday-- the time of year retailers hopefully move into the black, turning a profit. hopes are high this holiday season. the national retail federation predicts a 2.3% increase in sales in november and december much better than last year. other forecasts call for even stronger gains. as suzanne pratt reports, black friday could be the gift retailers are looking for. >> you can not enter here, go to the left or the right or keep the traffic moving. >> reporter: it's beginning to look a lot like christmas. from the massive crowds at macy's in herald square to the long lines at this best buy in california, retailers

good night everyone, and good night to you too, tom. >> tom: good night susie. i'm tom hudson. good night everyone. we hope to see all of you again tomorrow night. "nightly business report" is made possible by: this program was made possible by contributions to your pbs station from viewers like you. captioning sponsored by wpbt captioned by media access group at wgbh access.wgbh.org

this is "nightly business report" with susie gharib and tom hudson. "nightly business report" is made possible by: captioning sponsored by wpbt >> tom: good evening, and thanks for joining us. my colleague susie gharib is off tonight. as the nation prepares to go shopping this weekend, investors were buying up stocks. the dow popped 150 points higher, wiping out yesterday's losses. while shopping on the day after thanksgiving has become almost as much a tradition as eating turkey leftovers, this year both retailers and shoppers have a new game plan for black friday. erika miller reports. >> reporter: 'tis the season for decking the malls. not just with seasonal decor, but also with sales signs. this gap at a mall in new york city plans to open at midnight on black friday. district manager benny paulino says everything will be half price until 10 a.m. >> i think we're expecting a little more traffic than the previous years. i think we haven't been as promotionally driven in the past as we are this year. >> reporter: but many of the best deals will not

my colleague tom hudson is off tonight. world leaders agreed today to a cooling off period on prickly currency and trade issues. but as that two-day summit in south korea wrapped up, the reaction here on wall street was anything but cool. the dow fell 90 points, the nasdaq tumbled 37 and the s&p 500 off 14 points. investors are concerned about how trade and currency frictions will be resolved and word today that china will raise interest rates to fight off inflation in its economy. erika miller has more on the market pullback and the outlook. >> reporter: the concern about stocks here... actually starts here in the streets of china, where there is a growing for u.s. goods and services. investors are worried china might have to slowdown its economy in order to reduce inflation pressures. market strategist alec young says many multinational companies rely on china to offset slower growth in the u.s. and elsewhere. >> china is now the world's second largest economy. it's growing at 10% a year. so, by far the biggest driver of

i'm tom hudson. >> susie: good night, tom. i'm susie gharib goodnight, everyone. we hope to see all of you again next week. "nightly business report" is made possible by: this program was made possible by contributions to your pbs station from viewers like you. thank you. captioning sponsored by wpbt captioned by media access group at wgbh access.wgbh.org

this is "nightly business report" with susie gharib and tom hudson. "nightly business report" is made possible by: this program is made possible by contributions to your pbs station from viewers like you. captioning sponsored by wpbt >> susie: good evening everyone. call it "tarp european style." and tom, european officials have approved a plan that will bail out european countries with financial problems in the future. now the idea here? reassuring investors that europe is united in solving the region's massive debt problems. >> tom: susie, it's called the "european stabilization mechanism." here's what we know about it. it launches in 2013 and will provide emergency loans. 16 euro-zone countries can ask for help. if a country needs a bailout, anyone holding that country's bonds will have to agree to a haircut on their investment before bailout money is doled out. >> susie: europe's finance ministers also okayed a bailout for ireland, $113 billion worth. so what does all this mean to the u.s. economy and american investors? joining us now, kenneth ro

this is "nightly business report" with susie gharib and tom hudson. "nightly business report" is made possible by: this program is made possible by contributions to your pbs station from viewers like you. captioning sponsored by wpbt >> susie: good evening everyone. a "new" stock will trade here at the new york stock exchange tomorrow: general motors. tom, everyone's talking about g.m. going public just a year after emerging from bankruptcy. >> tom: susie, the automaker priced its shares late this afternoon. $33 dollars each, higher than originally planned. g.m. will raise about $23 billion, combining common and preferred shares, making it the largest i.p.o. in u.s. history. and it'll trade under the ticker g-m, same as the old symbol. >> susie: but the company is "new." leaner-- only four brand names remain, cadillac, buick, chevy and g.m.c. downsized-- 25% fewer workers. new management-- dan akerson is the c.e.o., the fourth in two years. it's profitable-- $5 billion dollars so far this year, and expected to report its first full-year profit since 2

good night, everyone, and good night to you, too, tom. >> tom: good night, susie. i'm tom hudson. good night, everyone. we hope to see all of you again tomorrow night. "nightly business report" is made possible by: this program was made possible by contributions to your pbs station from viewers like you. thank you. captioning sponsored by wpbt captioned by media access group at wgbh access.wgbh.org >> more information about investing is available in: to order this dvd, call 1-800- play-pbs or visit online at shoppbs.org. >> be more. pbs.

good night, everyone, and good night to you, too, tom. >> tom: good night, susie. i'm tom hudson. good night, everyone. we hope to see all of you again tomorrow night. "nightly business report" is made possible by: this program was made possible by contributions to your pbs station from viewers like you. thank you. captioning sponsored by wpbt captioned by media access group at wgbh access.wgbh.org >> more information about investing is available in: to order this dvd, call 1-800- play-pbs or visit online at shoppbs.org. >> be more. >> be more. pbs.

i'm tom hudson. we hope to "nightly business report" is made possible by: this program was made possible by contributions to your pbs station from viewers like you. thank you. captioning sponsored by wpbt captioned by media access group at wgbh access.wgbh.org

tom hudson is off tonight. a sweeping plan announced today to drastically reduce the nation's enormous deficit. among the recommendations: raising the nation's retirement age to 68 and getting rid of the tax break for home mortgage interest payments. the cuts, suggested by a special commission appointed by president obama, would reduce the deficit by $4 trillion over the next decade. so, how will the proposals impact you? our washington bureau chief darren gersh has been studying the report, and he joins us now. >> susie: darren, this is quite a provocative plan. could it really happen? >> well, provocative is one way to put it. the list provokes just about everybody, doesn't it. i would say it is a serious plan, although the odds of it becoming law right away -- i think we have to say right up front are extremely low. the initial reaction from republicans and democrats was pretty divided. there is a lot in this plan that is going to upset both sides. the way to read this plan is pretty much this way: this is w

good night, everyone, and good night to you, too, tom. >> tom: good night, susie. i'm tom hudson. we hope to see all of you again tomorrow night. "nightly business report" is made possible by:8khp this program was made possible by contributions to your pbs station from viewers like you. thank you. captioning sponsored by wpbt captioned by media access group at wgbh access.wgbh.org

this is "nightly business report" with susie gharib and tom hudson. "nightly business report" is made possible by: this program is made possible by contributions to your pbs station from viewers like you. captioning sponsored by wpbt >> susie: good evening everyone. a major crackdown on insider trading today. tom, the f.b.i. raided three hedge fund firms as part of a larger investigation of trading practices on wall street. >> tom: susie, these are high- profile firms managing billions of dollars of investor portfolios. now two firms in connecticut were searched: diamondback capital management and level global investors. the other, loch capital management, is based in boston. the raids come on the heels of a weekend report in the "wall street journal" detailing an insider trading probe that could be bigger in size and scope of the recent galleon group case. according to that report, many hedge funds, consultants, investment bankers and mutual fund traders are being investigated. former s.e.c. enforcement director jacob frenkel says the case comes down