The dow is down over 200 points. Of course, pointing to weaker than expected Manufacturing Survey that was definitely the trigger. A lot of the rally since late summer was about a process with industrial activity. I will point out weakness today is not specifically concentrated in manufacturing, it seems like it is an excuse to say we had a nice run, havent had many pull backs. See the nasdaq down 1. 4 not full of manufacturing. It is more of a general cemen sentiment. U. S. Data not improving on time according to the schedule investors were hoping, we have a backoff. I would point out, s p is back to where we traded a week ago friday were skimming a bit off the top of the last part of the rally. Dow is down 220 as we talk now. Meantime, lets turn to the political ad hold outs mark sazuckerberg was reiteratig facebooks policy for now. At the end of the day i just think that in a democracy people should be able to see for themselves what politicians are saying even if the ads contain false information . I think people should be able to judge for themselves the character of politicians then you have youtube ceo appearing on 60 minutes saying something similar. Facebook is facing a lot of controversy because it refuses to take down a President Trump ad about biden which is not true would you run that ad . So that is an ad that right now would not be a violation of our policies is it on youtube right now . It has been on youtube. Can a politician lie on youtube . For every video, i think it is important to look at it politicians are always accusing their opponents of lying that said, it is not okay to have technically manipulated content that would be misleading with us now, kara swisher welcome. Hi. I feel like another week, anoth another opportunity to talk about this topic theyre different they talked about taking down some things, google released a new policy taking down obviously false ads, and it wasnt technical, demonstrably false. Theyre trying to thread a needle thats difficult and put things around micro ttargeting. Mark is sticking to one side, jack dorsey another. And it continues to be the same issue with mark thinking he is like a television or radio or newspaper. But this is massive, not just politicians lying, it is lying and lying and keeps going and it rates and it rates he is trying to bring them in as a regular market i dont understand the answer, how a consumer would know it is false thats right. There are so many. Thats the issue it is not just one ad to fact check. Thats relatively easy to do this is impossible to fact check given iterations of it he left out the important, he leaves out the important his wife was articulate. I wish she was running facebook some days. These are complex topics, she was trying to reflect the complexity he didnt talk about microtargeting which changes the equation it is like whispering a million different messages in a million ears, very different from what he is trying to link to. He is trying to simplify something thats extraordinarily complex. We well see if they do anything. The steps google is making is the right direction. You dont have to all out ban and edit politicians, it is manipulation, conflate misinformation with bloviating ads is a disservice to the u. S. Electorate theres always the other line, maybe they can modify algorithms how it is spread, how many it is served up to. It seems like left alone, it propagates were dealing with two things politicians do sort of overextend in ads, but thats different on the television or newspaper ad versus online, theyre highly targeted ads. I think sacha baron cohen, free speech doesnt mean free reach you cant conflate misinformation and manipulation with the ads in this way i think thats what theyre doing to make it simple for the American Public but it is not simple. I think what struck me most with both companies, you can say this across the social media spectrum, maybe not with twitter, certainly not with snap, the fact that theyre Fact Checking when you look at alphabet and facebook, there does, it came out in both interviews, seems to be a very specific line in the sand just how far theyll go with Fact Checking and reviewing. Were not asking them to tell us a politician is a liar, were asking them to remove blatant misinformation, not microtarget lying ads to people. It is not that much to ask this is paid speech. Very different you can do whatever you want on twitter. Senator john kennedy was talking conspiracy theories on nbc you can do that, it just can be then easily fact checked finally speaking of twitter, seen a number of things going by, curious a thought about the zuckerberg, trump meeting that took place i dont know what happened. He was probably talking about his use of social media, he is very interested in his accounts. I suspect he was complaining about bias against conservatives, the menu of the same stuff that he does publicly i dont know if trump says things publicly that he doesnt say privately, i think he lets it all hang out. I suspect it was the same thing. Speaking of twitter, jack dorsey spending half of the year in africa, saying the continent will define the future, especially the bitcoin one is this about twitter, about square, or is it about crypto currency or all of the above we did a pivot of professor gall gallaway ford motor ceo said i am going to iceland to learn clean energy, that would be a problem with the board it is laudable more people should be involved in africa and investing. I wish he would do that. He is also ceo of two companies. And also one company thats right in the middle of the election leaving for a few months during a critical period of monitoring twitter during the election seems perhaps not the best idea unless you have another ceo in mind to run the company. I dont know who that would be it is not as though africa doesnt represent an opportunity, growth opportunity. It is it is small. Relatively small. I heard other ceos talk about africa doesnt mean theyre moving there. But this year during the Election Year when he has two companies, laudable idea he should do that when he is not ceo i suspect. Again, i think it is a great thing to be investing in bitcoin or opportunities throughout africa, through the many countries. Africa is a continent. Dozens and dozens of countries anybody on the board says jack, not a good idea, maybe rethink that do you know anybody he goes to or who volunteers some opinions sometimes . No. I have been trying to reach him to find out what it means, where in africa. I know a couple of his board members, but yeah, i dont know. Laudable, but he is running two companies, one is critically important during Election Year seems perhaps maybe after the election or when he is not ceo i am not sure. There are two parts to this. Although it is funny, wonder if he feels like couldnt have a ceo running half of twitter and square i wonder if he feels not so well we dont necessarily know physically where most ceos spend most time. He could get there, have exposure to what he needs and get back without saying im spending three to six months. You can work from anywhere, but it is a messaging. The other thing is tech ceo visiting the midwest, were going on an expedition to visit regular people, so strange it has a hint of kcolonization investment has to be made in countries through africa it is a continent, there are many countries there should be more investment there, should be more everything in terms of bitcoin and whatever technology, so thats great. I dont know im not sure investors will love it i wonder if an activist shareholder may step in. The stock has been down. Twitter has been down right. Uber is another one. Dont have control vulnerable. Cant help but wonder if this is about square, adoption of mobile and need to supply the infrastructure for payments on mobile devices. Could be, thats great. Well see. Finally, apple at an event in new york city, meant to honor the favorite apps and games of 2019 no new product announcements are expected today anything to see here celebrating apps and games. Apples future they still are making a lot of hardware and stuff around things like ar. But theyve been leaning heavily into software and apps and games. I think calling attention to them celebrating them, being good to their developers, figuring out the controversy around the app store and facing some regulatory scrutiny there i think it is just that, that theyre more than heres the new iphone, it is all of the other things you can do on it. Tim cook pushed for privacy is this an opportunity to keep that conversation going or even basically pump it up he can do that. Theyre facing their own controversy, the mapping thing in russia is not great, although it is difficult to operate in the country, not follow its laws thats what tim said they need to talk about apple as more than a Hardware Company as it should be, whether it is an Entertainment Company or app it is an app company, software company, games company, Entertainment Company. All right thanks for joining us. Covered a lot. After the break, why target, walmart, other major retailers are a threat to amazon today on cyber monday tell you where to find the best deals next. Shares of roku, downgrade at Morgan Stanley impacting the stock. Down 16 at the moment more squawk alley ahead. Stand up if you are First Generation College student. crowd cheering stand up if youre a mother. If you are actively deployed, a veteran, or youre in a military family, please stand. The world in which we live equally distributes talent, but it doesnt equally distribute opportunity, and paths are not always the same. Im so proud of you dad. [man] i will tell you this, Southern New Hampshire university can change the whole trajectory of your life. uplifting music only a few hours into cyber monday sales have crossed a half billion according to Adobe Analytics. They expect it to be the Largest Online shopping day of the year, no surprise there. Here in the u. S. , on track to hit 9. 5 billion of sales. What does it mean for amazon and more importantly, competitors. Guys, thanks to both of you for being with us. What are we thinking about amazon the stock is underperformed versus many Large Cap Technology peers. As we head into the important Holiday Season, are you positive were very positive in fact, may have underperformed this year relative to the internet index, but over the last two years, five years, ten years, has dramatically outperformed we think in the next 12 months will outperform again. They claimed 35 market share last year of the holidays. We think theyll clear about 37 this year. Theyre growing 20 . Market is growing mid teens. Net net, we think amazon is the biggest winner this Holiday Season if amazon is the biggest winner and weve seen signs it will be another record cyber monday, why is the stock down 2 right now . Thats a good question, not sure i have a great answer for that i agree with yousef, over black friday, store traffic was down 6 , online sales up 19 . Amazon has 50 domestic market share. If you look at blockbuster or record cyber monday sales, once again, amazon would be the largest beneficiary there as well i would say buy into weakness. I guess we still have almost universal bullishness towards amazon people assumed its competitive advantages will continue to bear out in outperformance. Are we seeing it having to grow into the valuation here, is there something in particular, whether it is cost of instant delivery across the industry that has people more hesitant to pay up for amazon . I would agree with that that would partially explain or answer the prior question, which is look, the model for an 800 million spend to allow for the one day prime delivering q2, came in close to a billion by our estimates. Same thing in q3 q4, theyll spend a billion and a half from a margin standpoint, you look at 2020, 2019 and 2020, were assuming deterioration in margin short term, not assuming the margins bounce back to 2018 levels until 2022, 2023. That scares people. In 2005, prime two day shipping was launched, costed deterioration in gross margins, but net effect was acceleration of the top line from low 20s, 22 in 05 to 38 in 2007. Thats what the market is missing. If you look at consensus estimates for 2020 and 2021, the market has deceleration, we think the opposite will happen we think well see Revenue Growth acceleration with slight deterioration of margins which is fine. Anthony, shifting gears slightly from the consumer here where amazon is concerned, how big is the government opportunity . Certainly the jedi cloud contract for dod is getting attention, you have General Services administration changing the way it will contract which could create opportunities for amazon to sell more goods to different government agencies. Is that something that investors are paying enough attention to how big is that opportunity . I dont think investors are paying enough attention to that. I agree with you, it is a humongous opportunity. Few ways for amazon to attack that one is obviously through Cloud Computing. Lets be clear about the jedi contract, theres no good reason amazon lost that contract. Amazon has first mover advantage, most innovative i think youll see them get more than their fair share of government contracts going forward. To some extent, the protest was to say look, were not taking this lying down. The other thing is like you said, in terms of services or in terms of selling products to the government, amazon business continues to go at a fast rate theyre taking a lot of market share from the staples and Office Depots of the world we think that will continue. We havent spent much time talking aws, there was a reference to it moments ago. It is an important component of the companys profits given the incredible margins of growth do you have concerns about the increasing competition from likes of azure or google Cloud Business that perhaps estimates are high for aws and what they can achieve . Yes i think thats something that on the Third Quarter call freaked people out that explained the dramatic underperformance over the last several weeks. You know, aws already has the largest market share, doing 25 to 30 billion plus in revenues they have the widest footprints, best technology. Gcp or google cloud which we also cover is literally doubling every year off a small base, but doubling nonetheless when aws is growing around 30, mid30s . On the margin, azure and gcp are gaining share. This is a Global Market in nature you shouldnt just look at the growth rate, you should look at the dollar of incremental dollar of revenues coming in to aws through other players. Aws continues to claim the lions share of that finally, talking about amazon where the Holiday Shopping season is concerned. But you say there are other names in the tech sphere, names you cover that could benefit this season. What are they . Absolutely. You have to focus on basically facebook and google who are peloton is in play, tree desk, if interested in nonworld gardens like facebook and google, it is interesting as the largest flare in advertising in the space. Thanks to both of you thank you, guys speaking of amazon, wondering where jon is he reports live from the reinvent conference in las vegas all day tuesday. Tomorrow, including an exclusive sit down with a very special guest. Ndo is it . Fi out tomorrow, 11 00 a. M. Eastern here on squawk alley. As a reliable phone company. woman but to businesses, were a reliable partner. We Keep Companies ready for whats next. man we weave security into their business. Virtualize their operations. woman and build ai Customer Experiences. We also keep them ready for the next big opportunity. Like 5g. Almost all the fortune 500 partner with us. woman when it comes to Digital Transformation. Verizon keeps business ready. You still have service . Call the Insurance Company sfx [phone ringing] its them, calling us. Its going to be a week before they can get through on these roads shhh, sorry, i didnt catch that. I said ask how soon they can be here right now . Whats now . He says theyre surveying our property now theyre probably at the wrong house i dont see any hovering his name is hovering . Look up . By automating claims with Machine Learning and analytics, cognizant is helping Insurance Companies advance how they serve even hard to reach customers. Cool european markets set to close. Seema mody has todays action overseas hey, mike weak u. S. Manufacturing read hitting european equities. We started the day higher, following better than expected chinese manufacturing data the stock 600 headed for the worst day since october 2nd. In terms of sectors, techs, auto more trouble for ted baker, the uk Clothing Group warning they overstated value of inventory up to 25 Million Pounds and it comes after the Company Issued the third profit warning of 2019 back in october. The stock has now fallen 80 in the past one year. Take a step back, look at where we stand going into the last month flt year heres where the european markets are fairing. Russia is the lone country outperforming the u. S. , even with relative outperformance of european equities in germany and france, the uk is only up about 9 see what the next four weeks bring us last month of the decade thank you. Time for a news update with sue herera hello, morgan hello, everyone. Heres whats happening at this hour President Trump acknowledging trade talks with china may have been impacted by his decision to back protesters in hong kong, but told reporters today he Still Believes china wants a deal World Leaders are arriving in madrid for a two Week International climate conference, the goal to step up efforts to stop global warming, put finishing touches on the 2015 paris accord. House Speaker Nancy Pelosi in attendance. A crash on interstate 94 he lost control of his truck, carrying a full load of apples west of bismarck, in other words. Luckily the driver not injured. That blast of winter is disrupting air travel. Flight aware reports more than 1500 delayed flights in and out of the u. S. Today, with more than 350 kancancellations. The northeast bracing for more than a foot and a half of snow and it is only early december. Thats the news update this hour back downtown to you guys. Morgan, back to you. Winter is here, sue herera, thank you. Still to come. More on apples mysterious surprise event in new york city this morning is there a chance for one more thing today . Well tell you next. Stay with us this is what were up to today and im really glad you liked everything but theres one more thing that i want to talk about the cnbc Trend Tracker live data board brought to you by the cme group. She wanted to move someplace warm. But he wanted snow for the holidays. Cme group where the world comes to manage risk ill get that later. Dylan but the one thing we could both agree on was getting geico to help with homeowners insurance. What . Switching and saving was really easy i love you what . Sweetie hands off the glass. Ugh call geico and see how easy saving on homeowners and condo insurance can be. I love her it is a down day in the markets, the s p down. 84 bob pisani has more. The market is messing with the narrative for the year three things push us to new highs. First thing were seeing is the fed is not tightening. Theyre at least neutral thats not being changed today trade war, call it uneasy truce. Best way to characterize it. Here is whats changed today a narrative that the Global Economy is bottoming looking for data points to support that generally we had that, just didnt get it from the United States numbers talking about the pmi numbers today, put those up. We saw china pmi beat above expectations europe numbers generally beaten above expectations, not amazing, but the narrative supported. Heres the problem the u. S. Missed on manufacturing. You can say it doesnt matter. Manufacturing is a tiny part of the u. S. Economy it is the consumer that matters. The narrative was things are improving. Mostly this is a tech led sell off. Tech is communications as well as technology. Those are the two down the most. We had some retailers, consumer discretionary, l brands, that happens with weak economic data. Take a look at the five biggest stocks in the s p 500 right now. These are the five biggest apple, microsoft, google, amazon, facebook all down more than one percent this is almost 20 , not quite, of the s p when you have this down, you drag the whole s p 500 down. Then you have a bevy of high beta names, netflix, visa, nvidia, the semiconductor names. When theyre down 2 , also big cap names in addition to being high beta names, no surprise you get this my sense now is the important thing is the consumer is still strong thats the single most importantly thing we have going. The market was a little overbought in december, working off overbought conditions. This is probably healthy most important thing is we need to see that narrative, accelerated or bottoming growth narrative strengthened that will probably happen the next few weeks potentially back to you. Has to be proven in numbers tech sectors among the biggest laggers. Ahead of the invite only event this afternoon in new york, joining us to discuss the stock, analyst jeffrey kwaul and thanks for being here start with the event obviously doesnt seem like a big Financial Market mover, what does it tell you about apple business, things to emphasize, things investors need to know about it absolutely. Theyre supposed to be honoring the apps, best games in the app store. I think it is relevant, you think about it, they scaled away from ipad launch in octobers event instead of a bigger app sto store event. The focus is shifting to services and monetization of the system and like the one today getting more prominence. Jeffrey, the market has embraced the idea of giving apple a higher valuation in part because the Services Business is larger piece programs the iphone upgrade cycle seems smoothed out in terms of buying the phones on time i wonder how you think of the way the stock is valued, which is basically at the high forward price earnings multiple basically of the iphone era at this point yeah. Thats part of why apple is not our favorite investment at the moment i think apple does merit a higher multiple than its commanded in the past, typically it is at a discount to the s p 500, now it is flat or slightly above. Does merit better than it has in the past, but lets also keep in mind the companyis not growing as much as it has in the past, so were not willing to chase the multiple quite this high the fact that apple is holding this event when in the past issued a press release, any leans to be drawn that this is one of the other Big Tech Companies facing scrutiny due to the app store, how it worked with developers . You know, im not sure this is in reaction to concerns with antitrust issues but i think what this is telling you, they want to nurture the app store community more and more, and giving them more prime time having their own version of award night just for the app store is probably the right direction for them to go to. And more of Services Growth you see, i would argue you see better valuation of apple going forward. Jeffrey, do you think theres appreciable down side risk with apple . You mention that it deserves some decent valuation, but what is the next app that could become some sort of catalyst to get in kre get get in kremtally more excited . I think whats gone on with the stock the last three months, apple has proven iphone 11 has been a fairly meaningful cycle i think many of us in the Investor Community were skeptical of the iphone 11 when it launched. But it will be essentially flat year over year, on a unit basis, plus or minus. Now that theres not a hole to worry about for december, investors are free to start thinking forward until next fall when the 5g phone launches commence so theres a lot of hope i think associated with whats going to happen at this time next year. Were a little more balanced i think than many are about the success of the initial 5g phones and pricing of them. But i think thats generally whats propelled the stock in the last few months. I want to shift gears before i let you go, get your thoughts on huawei. The wall street journal report is out, the company is making smart phones without american chips, making good on you would call it a threat voiced in recent months, reports there could be more regulations to restrict suppliers to huawei is a lot of this price to the names you cover already or is there more pain to be had here you know, i would argue if you look at the broader ecosystem for equipment, smart phones, theres more pain to be had. Theres an underlying belief as things resolve, huawei is a procurer of the components that may not happen, they may be more vertically integrated theres probably more head winds ahead, especially figuring a way to go to all of the components they have. Thank you very much well see what the event gives us today thanks for your time thank you up next, how the irishman broke the legs of the thanksgiving box office this weekend. First, Rick Santelli, what are you watching today you know, we had some weak ism data, not to mention construction spending. And rates, they popped up globally what are they going to do now erat the u. S. Has turned in a diffent direction . Well discuss that after the break. Going to tell you about exciting plans available to anyone with medicare. Many plans provide broad coverage and still may save you money on monthly premiums and Prescription Drugs. With original medicare, youre covered for hospital stays and Doctor Office visits, but you have to meet a deductible for each and then youre still responsible for 20 of the cost. Next, lets look at a Medicare Supplement plan. As you can see, they cover the same things as original medicare and they also cover your medicare deductibles and coinsurance. But they often have higher monthly premiums and no Prescription Drug coverage. Now, lets take a look at humanas Medicare Advantage plans. With a humana medicare plan, hospital stays, Doctor Office visits and medicare deductibles are covered. And, of course, most humana Medicare Advantage plans include Prescription Drug coverage. In fact, in 2018, humana Medicare AdvantagePrescription Drug plan members saved an estimated 7400, on average, on their prescription costs. Most humana Medicare Advantage plans help you stay active and keep fit by including a Silver Sneakers Fitness Program at no extra cost. And, you may be able to save on dental and vision expenses, because coverage is now included with most humana Medicare Advantage plans. You get all this coverage for as low as a zero dollar monthly plan premium in many areas. And your doctor and hospital may already be a part of humanas large network. If you want the facts, call right now for the free decision guide from humana. There is no obligation, so call the number on your screen right now to see if your doctor is in our network; to find out if you can save on your prescriptions and to get our free decision guide. Licensed humana sales agents are standing by, so call now. Of the hour. Disappointing data threatening a year end rally we debate where stocks go. And stocks cut to a sell which calls the committee agrees with, which ones they dont. Despite a strong kickoff to Holiday Shopping, investors betting against a number of retailers. The list of most profitable and painful retail shorts at noon on the half morgan, 15 away. See you soon we will see you then, scott thank you. Lets get to the cme and Rick Santelli for the Santelli Exchange hey, rick. Good morning. And thank you. Theres three things i pay particularly close attention to lately, that is of course u. S. Fundamentals the next thing would be the level of equity prices, that correlates strongly with strong buy backs. The third issue, hard to handicap conventional wisdom would dictate capital expenditures, cap ex is on the weak side. And it is hard to dispute that the first one, globalized whether china and europe looked good, especially china coming into the session, saw a nice pop in interest rates, a nice rise in rates in the eu where theyre less negative, getting closer to that area that we had about five and a half, six weeks ago, minus 22, an important benchmark since it is the least negative going back to july but all of that changed briefly, and the dollar index seems to have changed permanently, with reference to the tight congested up moves it had last week. And i dont want to leave out construction spending. Not only weak, down eighttenths, it was down more than we thought last month, up a half percent modified to down three tenths the dollar index fascinates me it starts in Early September one thing that will be important in a minute, and it is always important, the end of the month, particularly october was the last fed ease. Seen the market turning point in many markets, not the least of the dollar index, less down side from the fed that gave it more potential for up side reverse the big break from october 9837 was the close several times. We have this double top formation. The dollar index was really effected today back to the other two topics we talked about buy backs as a positive for the stock market. The problem is you look at mutual fund, etfs in flows, since the beginning of november which is that date, the last fed rate cut, three this year, saw that money flowing into etfs, but flowing into bond etfs that movement, a positive electrical since rate cut, minus 100 billion in equity in flows, despite what markets are doing finally, do remember that buy backs are probably coming from the same well of liquidity as cap ex in the final analysis, many are against buy backs, there are tax issues, what are they going to do with the money. Give you dich give y give you dividends, you get taxed. Less supply, more demand, and cap ex, look at the seasonal adjustments into the numbers that create cap ex, theres more debate how weak it is in i. T. Good news and bad news Julia Boorstin explains. Reporter good morning, david. Good news is for disney. Disney plus. Frozen 2 grossed 124 million at the domestic box office. 740 Million Worldwide proof that audiences will still turn out for a grown up movie not tied to a franchise. Along with clean and slim, and ford versus ferrari, thanksgiving narrowed the year to date box office decline from 7 before the weekend to 5. 5 from last year the bad news is that while the decline is shrinking, thanksgiving Weekend Box Office was down 16 from last year. That could be partly attributed to Netflix Streaming the irishman starting wednesday hourly streaming volume spiked on netflix that day the irishman hit to five times what the Research Firm tracked in the previous few weeks movie theaters will see growing competition from streamers putting movies online faster than typical window of three weeks. The Marriage Story starts to stream later this week, a month after its thee real estate. Guys, back to you. We have the skywalker movie coming in december well see how it does. When we return head of google retail this cyber monday dont go anywhere. Back in two minutes. Alley. Cyber monday is in full swing. Global online sales are set to reach 13 billion today. Our next guest is calling this the super bowl for retailers joining us now is carrie tharp google clouds head of retail. Thanks for joining us today. We were just having this discussion earlier in the show that for alphabet this is a big time of the year for google this is a big time of the year, the Holiday Season just how big of an opportunity is it and what does that mean for what you do within the Cloud Division cyber monday and black friday are big Super Bowl Weekend for all of retail. Its make or break for their year theyre leveraging all their marketing channels they can to drive that traffic for us at the cloud its a critical point because we host a lot of the largest retail sites in the u. S. And globally so our focus is on providing the ultimate in reliability and scaleability during this very important period we have our google engineers sitting shoulder to shoulder with White Glove Service four our retailers to ensure that no matter what promotion goes viral or the most important product you have to sell, that were able to meet the needs and have your customers have a great experience. Carrie, as someone who has deep roots in retail yourself, what specifically can google offer to the retailers and the it works with that its competitors like amazon or microsoft or oracle or some of the others cant. Yeah, we really look at ourselves as the Retail Innovation partner of choice so whether thats Cloud Computing capabilities to give you flawless and Seamless Service to your customers or the broader google organization across our ad suites, our home hub. There is really every element of a Customer Journey can be touched by a google product and how we bring that together for our retailers really allows retailers to drive their own Digital Transformation and change the Customer Experience theyre trying to deliver. Can you give us an example, carrie im just curious what would an example of White Glove Service and all the other things you just said be that retailers are getting from you that theyre not getting from others yeah, so the White Glove Service specifically is our google engineers sitting and doing that peak season planning. So as cios and c suite are planning for the season to take on those higher traffic loads, its us doing the planning, the infrastructure reviews and sitting with them through the actual weekend in their war rooms making sure their symptoms sale no matter what happens. Thats really something thats special. We also think that the future of retail is driven by retail intelligence thats taking the hype cycle of ai and Machine Learning and bringing that value to bear in the retail p l so were helping retailers with google ai to help drive their ability to do promotions, recommendations, improve their margin with dynamic pricing. So its really helping that retail c suite deliver on all of their financial goals as well as giving them more time to focus on that instore and on the experience that has become so important today. Yeah, i know ive certainly been nudged about baskets, shopping baskets online that i havent actually pulled the trigger on in my emails reminding me to go pack and take another look sounds like that that would fall into that category as well im wondering with this Holiday Season with early numbers coming in for black friday and cyber monday what are you seeing in terms of traffic patterns and growth versus years past we are seeing huge growth across our partner networks, we host large sites like home depot, kohls, shopify is a big player thats an ecommerce platform that provides ecommerce for more than a million different merchants. They were serving up 15,000 transactions a minute and having 40 growth true fit a solution that provides on site recommendations and fit information for customers, they serve hundreds of retailers globally, they had an 86 growth in their traffic over this weekend. So we see a very strong shift to digital as expected. What we hear from our Retail Partners is during this weekend they expect over 50 of their sales to be digital. Thats well over double what they normally experience in every day from an online to store perspective. So we see things very consistent with that digital growth, Adobe Analytics reporting 20 growth over the weekend while retail next reported store traffic being down 2 . With he definitely saw that come through for our partners. Carrie tharp, thanks for joining us today. Thank you. Lets give you within more check here on the major averages we are off the lows on the s p but still decidedly down day given the data, perhaps some concerns over the latest trade in terms of brazil and arnta. Geinquk alley returns in less than three minutes johnson john is a baby company. But were also a company that controls hiv, fights cancer, repairs shattered bones, relieves depression, restores heart rhythms, helps you back from strokes, and keeps you healthy your whole life. From the day youre born we never stop taking care of you. He borrowed billions donald trump failed as a businessman. And left a trail of bankruptcy and broken promises. He hasnt changed. I started a tiny investment business, and over 27 years, grew it successfully to 36 billion dollars. Im tom steyer and i approve this message. Im running for president because unlike other candidates, i can go head to head with donald trump on the economy, and expose him fo what he is a fraud and a failure. Welcome back more tesla cyber truck paritiees to get to, we can call this peak cyber truck perhaps. This one thanksgiving themed, twitter user dan molano showing a video of his brothers handiwork made completely out of mashed potatoes, the windows were mashed as well. I dont know if i could do this with mashed potatoes. That seems chilled. I think that might be after they were left over for a while. Or a lot of butter. Taking a look at the markets right now the dow is down 200 points, the s p is down. 7 of a percent. The biggest move for the s p, also the nasdaq down 1 since october. With that were done here at squawk alley, we will send it over to judge. Morgan, thanks. Im scott wapner fro ntd and center the final stretch after a great year for stocks is your money primed for a december surge is it 12 00 noon and this is the halftime report. Announcer december usually the best month of the year for stocks, but is that in jeopardy . Your next money move is straight ahead. The Holiday Shopping season getting off to a strong start, but the bears are circling a number of retail names today kicking off a critical month for boeing and its plan to get the 737 max back in the air. How to play the stoc