Federal Reserve chair nominee Janet Yellen starts the confirmation process in front of the Senate Banking Committee today. The text of her prepared remarks is already out and there are four key words in it: The Fed has, Yellen will say, “more work to do.” That might mean the Fed has more stimulus to do, and stocks are rallying today. Walmart will announce its quarterly profits this morning. The National Retail Federation projects that average American shopper will spend $737.95 on holiday shopping — that’s down 2 percent from last year. And, Venezuela has a terrible inflation problem. Consumer prices jumped 54 percent last month alone. Venezuelan President Nicolás Maduro blames what he calls “hoarding and speculation,” and he’s taking some dramatic steps to combat the problem.

The United Nations said today that production of the plant used to make heroin has hit a record high in Afghanistan. This comes after more than a decade of trying to wean the Afghan economy from this deadly cash crop, which is now expanded to more than half a million acres. And, last night at Christie’s, a triptych by Francis Bacon went for $142.3 million. That’s the most ever for a work of art, which sold after what the auction house called six minutes of fierce telephone bidding. At Sotheby’s in New York tonight, it’s possible the new record will be broken again when Andy Warhol’s “Silver Car Crash, Double Disaster” goes on the auction block.

As more relief and aid flows into the Philippines, how does the country manage it all with an infrastructure in disrepair from the disaster? Also, Indian looks to raise money by selling pieces of its government-owned oil business. And U.S. Treasury Secretary heads to Asia, in part to press China on its currency. 

In the Philippines, the response to the massive typhoon could be hampered by disaster relief budgets already drained by other recent catastrophes, including a massive 7.2 earthquake there last month. The United Nations, the U.S., and E.U. are among those in the international community sending immediate help as well as gearing up for longer-term financial assistance. After two decades of bloodshed, the Democratic Republic of Congo and the main rebel group in the country are expected to sign a peace deal today. Could this be the development needed to put this country, rich in natural resources, on a path toward economic stability? And, it’s Veteran’s Day. As we honor people serving the country in the military, it would be nice if we could also get them their paychecks regularly and without hassle — and here’s where advances in mobile banking come in. 

A deal seems to be coalescing in which Iran would back off its nuclear program in exchange for the easing of economic sanctions. U.S. Secretary of State John Kerry and his French counterpart are due in Geneva today to work out details. Israel had been pushing for tougher sanctions and the emerging news  has angered Israel. Twitter’s stock went up 72.7 percent on its first day of trading yesterday, and other social media companies would like that kind of infusion of capital. Pinterest comes to mind. Pinterest is backed hundreds of millions in venture capital and the company says it doesn’t plan to go public, however, they must have watching Twitter in the last 24 hours. And, a top U.S. Treasury official is expected to step down today amid reports she’s next in line for a spot on the Federal Reserve Board. The Fed’s Board is facing  three vacancies, setting up another round of lobbying in behalf of their favorites by Wall Street. 

Other than an elite few, not many people are permitted to buy stock in a Chinese company on the Chinese stock market. But that might change soon. This week, the Obama administration kicked off a series of public forums to talk about a proposed new rating system for colleges. The plan is light on details so far, but the broad brush idea is to grade colleges on criteria like value and affordability — with the hope of forcing colleges to a better job. And, the times are changing for debt collectors. The federal consumer watchdog agency this week put the industry and consumers on alert that, by next year, there will new rules for how we get dunned.

Apple, Inc. is trying to give customers a sense of how often the government officially demands private data. During the first 6 months of 2013, there were 3,500 requests by the U.S. — and those are just the ones Apple is disclosing. Later today, CBS will release its profits report. The broadcaster made headlines in August when it went head-to-head with Time Warner Cable. The standoff may have cost Time Warner more than 300,000 subscribers. But CBS seems to have done better — at least for now. And, there’s a campaign in Washington to block big companies from taking a tax deduction when they settle cases with the government. That comes after JPMorgan Chase agreed to pay a $5.1 billion settlement, all of which seems tax deductible.

New data from Europe show growth has likely slowed in the second half of the year, and that unemployment will likely stay high. Advocates pushing for high-speed rail in America begin their annual meeting in Los Angeles today. The U.S. High Speed Rail Association spends a lot of time dreaming about California. Construction is about to begin on a bullet train connecting LA and San Francisco. But outside California, the shovel-ready projects are tough to find. This coming weekend, Chinese leaders meet to hammer out economic reforms they hope will put the world’s second-biggest economy back on track. On one of the reforms, President Xi Jinping started the ball rolling a year ago, when he ordered government officials to end lavish banquets. That had a tremendous impact on sales of baijiu, a grain alcohol that will knock you flat. But one Chinese company has selected an American to save the day.

India tries its hand at interplanetary exploration as the country prepares to launch its first unmanned Mars orbiter. The World Retail Congress Africa started today in Johannesburg, South Africa. Some of the world’s most famous companies are there trying to figure out how to sell to the continent — a fast-growing, but often tough market. And, just what is professional wrestling anyway? Sport? Theater? Farce? Marketplace Morning Report talked to a journalist who finds out in his new book.