video transcript

Here's what you need to know for Tuesday November 30. President Barack Obama tomorrow will house congressional leaders at the White House. Including the new Republican house speaker John Boehner and be the first meeting between Boehner and the president since the mid term election. Extension of bush era tax cuts are expected to top the agenda. The Republicans want all the tax cuts extended for every one. The Democrats won a limit to those making 250000 dollars -- -- there is a proposal from Chuck Schumer the Democrat of New York to raise an income level up to one million dollars. We don't expect any major breakthroughs tomorrow but they will be yet to feel each other out on their positions. Of course you can't discuss the future of tax cuts without addressing the deficit and tomorrow we'll hear from the president's bipartisan commission on debt reduction. Many that byte -- chairman Erskine Bowles and former senator Alan Simpson. -- cancel a public meeting for Tuesday and instead called for a press conference for the afternoon. The eighteen member panel is expected to hold a formal vote on the proposals at a meeting on Wednesday which is the deadline for the panel's recommendations. And we'll get the latest readings from the US economy. Expect the ISM index for New York for November and the Chicago purchasing managers index. It's expected to come in at sixty slightly lower than the previous month traders though will be looking at the employment component. For clues about Friday's big labor report. And we'll find out if consumers are feeling any better the conference board's index of consumer confidence for November. Is expected to show a steady if plotting improvement analysts we polled are calling for rise to 52 point six. From fifty point to an October. And continued troubles in the housing market will be evident Tuesday. What we get the S&P Case Shiller report on prices in twenty major US real estate markets for September. It is expected to show it one point 1% rise from here earlier in the month by month basis though prices are expected to have dropped slightly. Federal Reserve Chairman Ben Bernanke speaks as part of a panel on the economy. This being the first chance we get you fed chairman's take on a forecast released last week by the Fed. -- shows little expectations for employment growth in the next year where does he stand on the spectrum that forecast is one of the bulls are one of the bears. And that could help determine the direction of monetary policy. True. How worried is he about the European situation things have been relatively contained tonight are. Of course I the Irish bailout was not enough to -- stock market here today and will be wanting to hear and determine just how concerned is joining Bernanke on the panel will be IBM's CEO Sam -- -- -- And Ford Motor CEO Alan Mulally Cleveland fed presidents and European I'll -- will moderate the panel. Also speaking tomorrow and Saint Paul Minneapolis fed president Arianna -- Lakota will speak about monetary policy. As eighths fiscal policies substitute. And tomorrow will be the last trading day of the month of November that the S&P 500. Can close above 1183 -- only the third straight month of gains for the broader market. Although November's gains won't be that much recipe today erased much of its earlier losses to close at 1187. Since the end of August. The S&P 500 is gained 13%. I'm Dan burns and -- Reuters inside. Its.