Great to have you here, seema. Lets get straight to the Global Market picture this morning. Coming off a week of gains we saw over a percent of gains for the nasdaq last week, just under a percent for the s p and dow. Very thin volumes on the friday morning of trade and no trade on thanksgiving thursday. This morning we are expected to open a little bit higher but just fractionally. The nasdaq up 7 points the dow 6. S p up about 1. 5 . We didnt see that Much Movement last week compared to prior weeks, but in general its been a similar theme over the last two or three weeks, and that is a very flattening yield curve. Its going up and longer coming down on be the ten year at 2. 35 this morning. If we pivot to asia where stocks ended lower specifically in china down nearly 1 , this after notching its biggest one day fall in 17 months on thursday, a lot of traders are attributing this to fears in the bond market, the fact bond yields climbing above 4 in china last week, so clearly a situation that Global Investors are paying attention to. Hang seng down. 6 of a percent and the nikkei which has really been on a tear over the past two months slightly lower today but extending the losses from last week some of that having to do with a stronger yen today meantime, take a look at europe. Early trade there. You can see the stocks are not being impacted by what happened in asia. Right now we are higher across the board. French equity index up just about. 2 of a percent. Oil prices enjoyed an impressive week up nearly 4 they crossed 59 on friday they are below that level. Down half a percent. 58. 6 for wti the next target 60, hasnt crossed that level since june 2015 dollar board for you, the dollar was down a full 1 in the broader index. Its weaker again today. The euro had been higher but its just flattened off in the course of the last half an hour or so. It seems that its now flat 193. The dollar weaker against the yen. Bitcoin hitting a new record high it continues to plow through various targets, the latest being 9,400 where it sits just above this morning. Up 900 so far this year, wilfred. There seems to be this collective optimism around more Retail Investors getting in on bitcoin coin base which is the largest trading operator they published results or data that shows 11,000 accounts were made during the weekend. Following thanksgiving that a suggestion that more people are trying to get in all right. New this morning, publisher meredith is buying time, inc. , for 2. 8 billion Contessa Brewer is joining us with the results. These companies have held merger talks before, several rounds in recent years, but no deal emerged until now meredith will pay 18. 50 a share for time, inc. , which was spun off from time warner in 2014 the Company Publishes such wellknown magazines like time, Sports Illustrated and people. Meredith includes Family Circle, better homes and gardens both companies have really struggled to replace shrinking ad revenue meredith received 650 million in backing from the billionaire koch brothers. Charles and david koch are widely known for supporting conservative causes. They wont have any editorial influence here they say the magazine business is a good investment in a press release Koch Industries said it wont have a seat on merediths board and, again, wont take any influence or any editorial or managerial role here. Checking out some of the shares of time and meredith this morning, lets take a look at how theyre looking. Time, inc. , up 8. 5 . Were not seeing premarket trading on meredith but 61 a share. Youre looking at premiums on both of these stocks on the news, wilfred. Interesting given the fact that so many other wellknown magazines, playboy, newsweek are published online to see this big deal done in magazines contessa, thank you very much for that. Focusing to retail a strong start to the Holiday Shopping season. Adobe says consumers spent 4. 5 billion online some Analysts Expect today, cyber monday, to be the Largest Online shopping day in history cnbcs Courtney Ragan is live at an Amazon Fulfillment Center good morning, court. Reporter thats right. Amazon has a pretty high bar to beat prime day in july was actually amazons best day ever topping both cyber monday and black friday from the year before. So can they do it . Most people they think can emarketer says on an average day amazon gets 44 cents of every dollar thats spent online, but if you look across the board for all of ecommerce today, even on top of records for thanksgiving day and black friday, adobe still predicts today could be the best Online Shopping day in the u. S. In history at 6. 6 billion. Thats up about 16. 5 over last year one thing were going to be watching today is website performance. A lot of these retailers will stress test their website under very heavy traffic conditions and different kinds of checkout strain, but its not always enough to deal with traffic that could be potentially 30 times above whats normal. We know over the weekend h m. Com saw three different outages. Lowes was out for part of friday there were some reported checkout issues with macys online and thats in addition to the credit card processing issues that the retailer dealt with in its stores this over 1 million square foot facility here at amazon has over 14 miles of con veconveyor belt 5,000 employees, different robots and different robotics that help this to run 24 7 its already humming along it will be a big day here at amazons robinsville, new jersey, facility thank you so much lets continue the discussion. The First Official weekend of the Holiday Shopping season with the ceo of jay rogers. Good to have you on today. A pleasure to be here court any ju courtney told you the problem, amazon is winning. Theyre getting 44 cents of every dollar being spent online. This weekend sorry, seema. Go ahead. I was going to say, are there any winners then that will emerge from this Holiday Shopping season . Walmart is probably a winner. Youll find out they had a good weekend both online and in stores youll find other winners too. We know Department Stores did better than we thought they were going to well get good numbers out of macys despite the fact they had problems with their credit card processing well probably see good numbers out of kohls and pennys. Well find out that their growth online is seeing double digits as well. What about the luxury end of the market surprisingly, luxury hasnt been doing very well in the states and i think this weekend was probably the best luxury performance weve had relative to the rest of retail. I dont think anybody saw that coming either. And i think the other thing that happened was even though online was really, really good, we probably saw pretty close to flat maybe only slightly down traffic, which is pretty good considering what weve been seeing in the business so this is going to be one heck of a good weekend. We probably will hit that 4. 2 number of growth ive been saying for the holiday season, and i dont think anybody thought more than 3 point be point 6 to 4 when we were coming in. This weekend didnt do anything to tell anybody it wasnt going to go in now we get to the big sag and towards christmas they will be nervous about the business the 22nd, 23rd will be probably the two biggest selling days for brick and mortar and probably in total. It will be interesting to see how the day goes i have been expecting see cyber monday fall to black friday and black friday would get to be bigger it doesnt look like its happening this year after all unless today turns out to be disappointing. Nothing says its going to be disappointing. Adobe didnt have very good projections out there. We are moving to the point where cyber monday becomes a lot less important and the whole structure of black friday but there is a theory with consumers moving online that cyber monday sales would potentially eclipse black friday sales. I dont think thats going to happen from the point of view of total sales. Cyber monday is made up. Its like black friday thanksgiving. We made up cyber monday because everybody had Fast Internet Service at their office. You dont need that anymore. It will become less important than more important. Quickly, you mentioned clearly amazon is a big winner you also think walmart i also think walmart. I think we saw some pretty Good Business in some of the mallbased stores which we wouldnt have seen william so noma did well. It will be interesting to see what saturday really turns out to be, the Small Business component of it. We know local was really, really important. People wanted to shop near their homes and shop in local stores it will be interesting to see how well that really did i think thats ultimately going to be a big one. Thank you for joining us. Wall street look for new home sales tomorrow the home sales price. Thursday personal income, chicago pmi. On friday its the ism manufacturing index. So a big week ahead. Still ahead on Worldwide Exchange, ireland on the brink crucial brexit talks were live in dublin with the latest. Maker drama in d. C. Over who will head up the nations top consumer watchdog. Were live with that stick around, Worldwide Exchange will be back cannot live without it. So if you cant live without it. Why arent you using this guy . It makes your wifi awesomely fast. No. Still nope. Now were talking it gets you wifi here, here, and here. It even lets you take a time out. No no yes yes, indeed. Amazing speed, coverage and control. All with an xfi gateway. Find your awesome, and change the way you wifi. Exciting announcement. The expected spring of 2018 the last Royal Wedding was april of 2011. If youre just waking up, lets get you up to speed on the market action. Negative day for asian equities. Heres a look at how u. S. Equities are potentially fairing here waiting for the markets to open. Dow up just barely 1 . Nasdaq up 6. Trade in europe, youll see its basically a positive day with the ftse 100 up by almost. 2 points were keeping a close eye on whats happening in ireland. Cnbcs willem marks is live in dublin with more on that good morning, willem. Reporter good morning, wilfred. The Main Opposition Party has been threatening to file a no confidence motion in the Prime Minister here. Theyre saying that if that was to happen, he would have to dissolve the Minority Coalition government that he runs here and that, of course, is major, major, major information putting them back from a brexit decision they hope they can continue on to talk about their future trading relationship with europe one of the sticking points is the irish. We had a moment to sit down with the finance minister paschal donohoe. Heres what he had to say. Our mandate is absolutely clear. We have a position on National Interest that has very, very large support. Our mandate is clear its robust on this matter and all Political Parties in our parliament are very clear on how significant these issues are reporter and, guys, last night i was talking to the opposite party member leadership talking late into the night about trying to find an agreement whereby they could solve this political crisis around the Prime Minister. Those talks will continue presumably up until tuesday night when that no confidence motion can be tabled. Willem marx live in dublin. Lets continue the discussion as it relates to markets. Strategist at jpmorgan joins us. Good morning, nandini. The picture in europe does continue to have some political question marks over it, particularly germany and ongoing uncertainties over brexit negotiations indeed. Actually, 2017 has been a huge year for politics in the european region, the eurozone with german elections, spanish, catalan referendum the overarching story in brittain the markets seem resilient german equity markets have remained strong. At the end of the week last week they were hitting higher numbers than before. It looks like markets are paying attention to the fundamentals. Equally last week we had the iphone number in germany come out with one of high phone readings, Consumer Confidence hit 2,000 in the eurozone. Thats good news as well as the bad news so to speak. What are your thoughts, nandini, about whats taking place in asia, specifically in china . That selloff continues whats behind it well, i mean, a lot of things as the asian markets and emerging markets as a whole have been having a great run this year so far. You do see sometimes in a sense of nervousness investors pulling back chinese policy, debt policy as well last week we see investors feeling a bit nervous about china. Overall for the long term we do still believe emerging markets particularly the asian ems do have a lot to give in terms of being the forefront of technology, ecommerce that can come from china in particular as well as just this new middle class thats rising particularly in chien in th in china that produces medium gains. Oneday losses are tough were monitoring those very closely, but for the long term its not a reason to pull back our exposure to the emerging or chinese space. Nandini, whats your view on the u. S. Economy and in particular how the data might contradict the messages coming from a flattening yield curve . Yes, the flattening yield curve talk is very much on the minds of everyone in the past few weeks and certainly as we go into the next few weeks. The data seems to be great in the u. S. , right . Gdp, pmi, ism, all the confidence indicators ticking higher and higher. Unemployment continuing to fall. The big challenge and question for economists why isnt wage growth rising . With unemployment falling, youd expect wage growth to be higher. With that, the fed, are they not raising rates fast enough. We dont actually believe that the yield curve will steepen or in fact flatten to a point thats too negative for markets. We actually believe that given other global Monetary Policy forces, the fact that japan and the ecb are going to continue on their supportive Monetary Policy stances makes the fact that the yield curve wont flatten as much as is necessarily the fear going forward. So we actually dont take the flattening that were seeing currently as something to be necessarily a red flag for u. S. Markets, u. S. Economy and certainly not u. S. Equities going forward. In a word basically, our recession risks are quite low in the u. S. Nandini, of jpmorgan. The pig excuse me the big struggle in d. C. Over whos in charge of the nations top consumer agency. Were live in washington when Worldwide Exchange returns no matter how the markets change. At t. Rowe price. Our disciplined approach remains. Global markets may be uncertain. But you can feel confident in our investment experience around the world. Call us or your advisor. T. Rowe price. Invest with confidence. Your bbut as you get older,ing. It naturally begins to change, causing a lack of sharpness, or even trouble with recall. Thankfully, the breakthrough in prevagen helps your brain and actually improves memory. The secret is an ingredient originally discovered. In jellyfish. In clinical trials, prevagen has been shown to improve shortterm memory. Prevagen. The name to remember. Were back lets get you up to speed on the market futures are pointing fractionally higher as we span 6 points on the dow. Nasdaq up 2. We gained over a percent for the nasdaq, just under a percent for the s p and dow. In political news there is a big power struggle at the nations Top Consumer Watchdog AgencyKayla Tausche live in washington with those details good morning, kayla . Reporter good morning, seema. There is a legal saga over who will lead the Consumer FinancialProtection Bureau following director richard cordreys leaving on friday. The white house used a different statute to appoint mick mulva y mulvaney that led english to sue to keep him from taking the job today. Someone has to assume the management of the agency it has 1600 employees and a 600 million budget senior white house official says mulvaney is the only one with that Authority Office of white house Legal Counsel points to an obama level opinion says its authority supersedes that of dodd frank. The case its pointing to took nearly three years to reach that conclusion one simple solution would be to appoint a permanent director a decision is close but it would still be months before that person would take Office Democrats in droves threw their support behind english President Trump tweeted calling the bureaus leadership a, quote, total disaster that in his words has devastated banks now we wait to see whether the white house will move to freeze any forthcoming fines or actions by banks like those against the auto lending practices of sonton derras. The feud between parties shows an already bitter relationship between republicans and democrats. They have to raise the debt ceiling and avoiding Government Shutdown requires bipartisan support. Tax reform is a priority for the gop. Trump will meet with leaders from both parties tuesday. Well see whether they can find any common ground, seema, on the cfpb issue or any of the long todo list. The long focus is whos going to be next what are people saying about how richard handled this on his way out . Hes someone who has political ambitions himself. We are awaiting whether he will, as expected, enter the e frey of governor of ohio the white house is visibly frustrated about the fact that he let the door hit them on the way outputting them in a very difficult position, but theres been no love lost between republicans and the cfpb over the structure, cordreys inception. We will wait to see if the white house sponsors one of the hard liners in an attempt dissolve it or whether theyll pick someone more middle of the road, a policy guru who really will try to restructure the agency and their image. Kayla, thank you very much. Still ahead on the show, a roundup of this mornings top stories, check on Global Markets. Plus, a race for wall streets top job who could be the next ceo of Goldman Sachs. That discussion and much more on Worldwide Exchange. Cyber monday following a record weekends of sales, weve got a roundup of all the big numbers ahead. Breaking overnight, publisher meredith buying time, inc. Bali on high alert as volcanos send ash high into the sky. The details of that coming up. Monday, november 27th, 2017, youre watching Worldwide Exchange on cnbc good morning very warm welcome to Worldwide Exchange. Im wilfred frost. Im seema mody in for sara eisen. Happy cyber monday. To you. Cyber monday a day youll be celebrating. Will you be celebrating or shopping online . I did go out on friday. Well have to see. We will have a discussion meantime, take a look at Global Markets. Our setup for today, u. S. Futures indicating a slightly higher open. Just keep recapping what happened on friday which was a shortened trading day. Large and small cap stocks were both strong. S p 500 index gained. 2 of a percent. Among the individual standouts, top percentage standers, amazon getting 5 last week politics will be dominating the discussion this week tax reform debate heating up with the senate scheduled to vote on the tax bill on thursday you can see the ten year yield 2. 347 . A soft session in asia in particular for korea. Shanghai continues to slide and the shenzhen index down more down 1. 5 . Theres been questions over china particularly rising bond yields there over the last couple of weeks. But as well for hong kong which had a good week and the anything kay was slightly higher as well. European trading looking more pretty green over the screen. Germany has ruined my statement now by slipping south in the last 15 minutes or so. But as you can see, largely positive elsewhere still pretty. Still pretty. Lets look at oil prices now. Slightly lower after climbing to highest levels in two years. About 63 barrels, thats what we saw on ice brent crude wti crude trading at 58. 54. The big talker will be the opec meeting. Final meeting in vienna on thursday meantime, take a look at currencies the dollar moving in a strong way. The u. S. Dollar lower against the japanese yen one of the reasons we saw the japanese nikkei move lower over the past week. Speaking of big moves, take a look at bitcoin now above 9,000 trading at 9,480 it only took seven days to go from 8,000 to 9,000 for the digital currency. Unbelievable. Our top corporate story this morning, publisher meredith is buying time, inc. , for 2. 8 million. Contessa brewer is joining us with the story. Reporter hey, wilfred. Now we have a deal on the table. Meredith will pay 18. 50 a share from time, inc it was spun off from time warner in 2015. They publish time, sporsport illustrate illustrated, people. Meredith publishes Family Circle and better homes and gardens. Both companies are struggling to replace shrinking ad revenue meredith got 1 billion for supporting causes. Theyre investing in the magazine business because its a good investment. In a news release, koch industry says it wont have any operations time is moving 8. 5 in premarket trading. Meredith not seeing any. It closed on monday, the shortened day, at 61 with 18. 50 paid per share youre expecting to see a boost in both of those. Two stocks well keep an eye on contessa, thank you. Turning to retail, Analysts Expect today to be the Largest Online shopping day in history joining us on the cnbc news line, stacey widlitz, s. W. Retail advisors. What are you expecting im checking the deals online, target, toys r us, 15 discount today what else are you seeing well, happy cyber monday and happy royal engagement day, too. And to you. So today, you know, were dealing with that topic, it was not so bad over the weekend. The highlight was online sales which were up well into double digits im expecting today 20 bump for cyber monday growth. This is the final push this is the last day of the weekend where consumers know this is potentially the last day to get the discounts before retailers raise prices back up until the crucial last minute right before christmas. What are you hearing in terms of the key take aways from the weekend sales and friday in particular yeah, well, again, traffic down in the 1 to 4 range. Thats not so terrible compared to certainly the trends that weve had all year certainly a burst of cold weather are talking about health and apparel and much needed in the apparel space. Certainly while were talkin about sales being not so bad, you also have to remember though that they came at a low growth margin promotions out there were as tough as last year and in many cases were more promotional. While were getting excited for the Sales Numbers just what youve seen so far with black friday sales . Well, i think, again, you know, expectations are so low. Positions in this space are at alltime highs if we get some improvement on the top line are investors willing to look past a little bit of margin pressure in certain cases potentially here but, again, this period is becoming more and more stretched out and more sales are coming at a lower margin so, you know, its ultra competitive out there. Again, expectations are incredibly low going into the season. Stacey, thank you for joining us shares of Goldman Sachs have been under pressure in november. Down more than 2 point be point 5 many investors are wondering whats next for the company. The New York Times out with an article titled inside the race for the top job on wall street. It profiles the two men competing to run Goldman Sachs lets bring in the author of that article, kate kelly, reporter from the New York Times and cnbc contributor. The two men are the two copresident s that took that position after gary cohen left David Sullivan and Gary Schwartz i immediately jump on one point which is Lloyd Blankfine could go within the next 12 months. Succession planning at Goldman Sachs and any other company is under wraps this is an ongoing discussion for the board is all i could get out of them. They have a nominating committee. I assume they have an envelope with a name in it. It seems theyre in an ongoing job tryout and maybe others as well we just dont know when hes going to leave he has joked within the last few years about dying at his desk, having nothing else that he necessarily wants to do. At 63 his tenure has been longer than some recent heads of the firm going back to their private years they had people who ran the place for much, much longer. So i think the general betting, i spoke to probably three dozen people for this piece, many of them former partners, current executives as well as people that know the firm well, hell stay somewhere between 1 and 3 years, which seems to make it likely that one of these gentlemen would succeed him because in order to maybe skip a generation you would have to stay on a bit longer when we talk about their backgrounds, lloyd do you think that matters whether the person who takes over lloyd needs to be someone from a different part of the company . I think youre raising the essential question goldman has pivoted between someone with the trading background and that trading background was so helpful. The broad trading and Market Making division was the most profitable area of the firm by a huge margin. That sunk a little bit, but its still crucial to the bottom Line Investment banking, on the other hand, probably less of a revenue driver in percentage terms but a a really important franchise carrier and a place where they build those client relationships that can then lead to Asset Management business, can lead to trading business and so on so i think background is important and also personality. You talk about some of the striking differences between them in your piece personalities, what they focus on outside of goldman. Any similarities between the two . Theyre very different. Both workaholics they might be offended by that term, especially David Solomon who likes to talk about work life balance. Their hours are brutal theres a certain discipline, an experience but they really do within that sort of wall street and Goldman Sachs mold, they approach it very differently. We know from your story earlier in the year that David Solomon is a d. J. Right. D. J. Dsol. What about harvey after hours . This is the thing David Solomon talks a lot about the work life balance. Harvey has some things hes interested in. Hes a black belt in karate. Take note ahead of next interview. Exactly he likes to do cycling, although i think he doesnt have a ton of time for it. He used to be one of these guys and would put on the gear and spend a saturday or sunday after there. He has a partner hes really devoted to she came up a lot. An actor Annie Hubbard sounds like low key stuff. Youre saying one to three years the betting for lloyd, the betting is probably one of these two. What about any wild card outside of this . Who are the names to watch out for . I thought about talking about that in the piece. To my earlier point it feels like lloyds age, 63, the general impression that he wont stay more than a few more years, the baton seems likely to pass to schwartz or solomon having said that, i did poll people who is a likely wild card name john waldren comes up. He seems to be well liked, well respected. A real culture carrier and then the names were sort of all over eric lane who runs Asset Management also really well liked, has his fans and his supporters. Steven scherr who runs their lending business just an all around sort of versatile executive from erri everything ive heard. He has a fan base within the company. What ive found, this is true of the two copresident s. Who has very much to do with their own direct background. Who they work for, who they know and i think perhaps people advocate for certain executives because they know better. Im going to throw one more in there, marty chavez hes done a lot for lloyd. People question whether he has the outright leadership quale 4r lit tis. Coming up, Jeff Bezos Big pay day, bali on high alert and miss uvenirse is crowned todays pending stories ahead. Stick around [vo] when it comes to investing, looking from a fresh perspective can make all the difference. It can provide what we call an unlock a realization that often reveals a better path forward. At wells fargo, its our expertise in finding this kind of insight that has lead us to become one of the largest investment and Wealth Management firms in the country. Discover how we can help find your unlock. Welcome back to Worldwide Exchange. Im wilfred frost along with seema modi save the date for a Royal Wedding. Brittains prince harry announced his engagement to megan markle the couple has been dating since last year got engaged earlier this month details will be made public in due course prince harrys brother and sister in law, the duke and duchess of cambridge released a statement saying were excited for harry and megan. It has been wonderful getting to know megan and to see how happy she and harry are together well get a glimpse of that. There will be a photo call for the two of them were told i saw the reporting of the wedding of prince william. I was not a reporter back then. Thats when i was in india. I enjoyed as a viewer it was a very happy weekend. And large for that particular one they gave two bank holidays, on the friday and the monday. Is it a holiday they created a holiday for that year. Id say the nation was incredibly happy it was a very exciting moment. This, i guess, will be up there with it. Note quite as important because harry is only fifth in line to the throne but happiness all around they look very happy together. Congratulations. Meg merkel beth known for her role in movies another story trending is in indonesia, bali, a rumbling volcano is looking more dangerous. Its been sending ash thousands of feet into the air on saturday authorities have expanded the evacuation zone and closed balis International Airports for at least a day several flights have been canceled as we await to see what happens to the volcano. We will, indeed, on that story. Separately, call him the 100 billion man jeff bezos watching his net worth so i remember along with amazons share price bezos became the first person to reach a net worth greater than 100 billion since bill gates did way back when in 1999. Extraordinary. Amazing part of the amazon story, not just the shares but what it means for jeff bezos uhhuh. Another story is in the movie space. Pixars coco winning it brought in more than 71 million over the fiveday holiday weekend. The film focuses on the mexican holiday of the year. Thats the day of the dead the d. C. Comic super hero Movie Justice League slid to second place. I have not seen any of these i hope to see justice league. I did see wonder woman. I like to see a good batman and superman separate. Not sure what i make of those. Miss south africa has been crowned Miss Universe 2017 the competition was held in las vegas last night among her prizes the 22yearold wins a year long salary, a new luxury apartment in new york and she gets that for the duration of her rein, her rein being one year. Exactly one year until the next Miss Universe is named. The luxury apartment in new york city usually the upper east side. There we go. Approaching the top of the hour becky quick joins us good morning, becky. Good morning, guys. Good to see both of you today. We are heading into cyber monday big shopping day and as a result here on squawk box we have lots of things to talk about lots of ceos will be joining us to talk through some of these issues first up weve got nieman marcuss ceo talking to us about what theyve been seeing not only in their Retail Stores but also some of the off price stores weve been having as well talking about all of those issues coming up plus, we have etsys ceo seema, have you shopped there . Thats what i guess. Will, im guessing you havent . Correct. Its an artsy crafts type of thing. Ive bought all kinds of things on it. I think it has more of a female demographic. The ceo of etsy will join us. Do you think im not artsy, becky . No, i didnt say that. Well, you implied that. Its a correct implication. Ive bought things for the kids on it theres cool arts and crafts things Josh Silverman will be joining us to talk about that. Our guest host is Michael Reuben the founder and ceo of kinetic he owns three web sides. Fanatix, maybe youve heard that no. Education of sorts. Michael has founded the fanatix site i think they have 2. 5 billion of sports merchandise they sell at this point. They everlicensed through the nba, nfl, all of these teams hell join us to tell us what theyre seeing also, weve got the nhl commissioner, gary bettman and if you ate too much over the Holiday Shopping season, we have if you ate too much over the holiday season, well have the ceo of Weight Watchers and the red hat ceo. So im not artsy and i need to go on a dye elt becky, thanks very much. Youre welcome. Squawk box coming up in nine minutes time. Still ahead, we are getting ready to kick off the final trading week in november well tell you what to watch as we head into the end of the year. As we head into break check out the trade in europe which is slightly higher across the board. Back in a couple of minutes. What we do every night is like something out of a strange dream. Except that the next morning. It all makes sense. Fedex powers Global Commerce with vast, farreaching networks. Deep knowledge of industries. And, yes. Maybe a little magic. Welcome back to Worldwide Exchange. Futures pointing up higher with us now bob dole, chief exwitt at this strategist. Thanks very much for joining us. As we see, the rest of the year shaping up, are you optimistic markets can continue to push higher i suspect so, wilfred you just said today is slightly higher thats kind of how i look at december its a seasonally strong period. The trends have been pretty good we dont have the problem of inflation or flat yield curve or rising credit spreads. We have earnings that are still pretty good. Were going to have to watch carefully the progress on the tax bill in washington, d. C. I suspect there will be some moments where it looks like its not going to happen. That could create a little bump in the market. I believe well get a bill done early next year. For the moment, green lights bob, the jobless rate hit 4. 1 in october. Thats the lowest reading since december of 2000 where do you see inflation headed though . Well, thats the question for next year in my mind at some level of unemployment youd think some employers going to have to pay more to get the worker he or she wants and thats going to show up somewhere in inflation number. I think thats the item to watch. I dont expect big inflation, but at these low level of interest rates, low inflation expectations, high p. E. Ratios, a bump up in the inflation rate would not be very healthy for the market thats the key one i think we get some movement upward in 2018. What are you expecting in terms of rate hikes next year . What impact will that have on the flattening yield curve i think the fed has indicated they will continue to im going to say follow the curve upward i think they will do that. Im more in the two camp than the three and some people four camp for next year i hope they dont have to do four that would signal that we do have a more significant inflation problem than people think. I think equities can handle two without any problem, maybe three. Four i think begins to become a problem. Of course, unless its followed with yet another exceptional year for earnings. Bob, its hard to dispolice whats happening in bit cohn now 9600. Are you a follow lower with bitcoin, why do you need the stock market i confess it feels speculative you might call me old or oldfashioned. Its been an amazing run, has it not . Retail putting a lot of focus on how holiday sales are shaping up any big names youre looking at . So i think its not bricks and mortar or amazon as a lot of people are trying to make the distinction. I think its both. Weve got to be very selective on the bricks and mortar side. I think targets doing a good job. If i can put walmart in that category i want to own that stock as well i think you can pick and choose. They obviously in the middle of the year just got trounced though, stocks did i think their business is kay. Its not great they had a giant wearingup call with all of the online business. Lets see which ones can rise to the occasion. Bob doll, thank you. 20 seconds or so to go of course, keep an eye on the retailers again both their reaction to black fridaybut also cyber monday kicking off today. Lets have a quick look at the futures market as we head out which is pointing higher this date albeit slightly after a decent week of gains. Low luvomes at the end of last week thats it for Worldwide Exchange. Squawk box is next you cant predict the market. But through good times and bad. At t. Rowe price. Weve helped our investors stay confident for over 75 years. Call us or your advisor. T. Rowe price. Invest with confidence. Good morning breaking overnight, publisher meredith is buying time, inc. , for 1. 8 to depends on what you include in the deal. The full details of this is straight ahead retail winners and losers following a record weekend of online sales got a rundown of the winners and losers from black friday. And speaking of retail winners. Amazons jeff bezos is now a 100 billion man its 1 10 of a way to the trillion a young guy. This is all due to a rise in amazon stock price on black friday it is monday, november 27th, 2017 squawk box begins right now. Live from new york where business never sleeps, this is squawk box. Welcome to squawk box, everybody. Good morning we are here on cnbc and we are live from the Nasdaq Market site in times square. Im becky quick along with joe kernen and andrew ross sorkin. Last week was an up week for the markets. The dow was up by 1 last week you can see this morning there are green arrows as we quick off this new trading week. Dow futures up by 14 . S p up by over 2 the nasdaq indicated up by 7. 5 take a look at what happened overnight in asia. I believe there were some red arrows with the anything kay down by a quarter percentage point. The hang seng down