9:10am (EST)

Lots of breaking news this morning…

Retail sales grew 1.4% in October, after a 1.5% gain in September but came in short of the Street’s estimate.  Excluding autos, sales increased 0.2% which was below the 0.4% gain from last month.

The New York Federal Reserve’s Empire State manufacturing survey also came in lower than expected.  After hitting a five year high in the previous month, manufacturing activity fell to 23.5 in November from 34.6 in October.

Lowe’s Companies (LOW, $21.85) reported earnings this morning and said profits for the quarter were $344 million, or $0.23 a share, down from $488 million, or $0.33 a share, in the same quarter last year.

Results included one-time costs and if you exclude those items, Lowe’s earned $0.24 a share, matching Wall Street’s expectations.

Revenue came in at $11.4 billion, down from $11.7 billion, but beat estimates of $11.3 billion.  Lowe’s said it expects sales to increase 3%-4% a year on average over the next five years, and average earnings will increase 15% annually.  This stock is slightly higher in pre-market trading.

Futures are pointing towards a strong open this morning and we are looking to take advantage of the next leg up.  Current Members can check for a NEW TRADE this morning, one we are trying to get at the open, in the Members Area.