Transcripts For CNBC Closing Bell 20141128

And likely to go even lower now that opec has decided to keep production at current levels. And thats sent prices down again today. Walmart is basically a lot of the reason why we are still under the range of 50 to 60 points. The dow transportation index,ic look at broadly. As long as you are not trying to move crude oil. A lot to talk about. Hope you can join us here for the next couple of hours as we gauge this important day for the retail world. And we also follow the markets. We stand to close higher today. For the dow and s p right now it will be record highs for the year. Its also been a very good november by the way for these markets. It is amazing to think just at the speed and breadth of the rallying since october 15th. We have to look at the impact oil is having. European yields again hitting new lows overnight. And lets talk to some of these savvy shoppers. Did you get these at the door busters this morning . What time did you get to the mall. 7 00. Very early this morning. Yeah. Do you get up that early happily to get to school . No. Its much better to go shopping. What did you buy . Tons of clothes and everything. Sox. Are these Christmas Gifts or for you. For me. Oh see, okay. Right . And what did you get in a variety of things did you get good bargains . Yes. 50 off. T like 20 off. For 50 dollar sweatshirt i got 12. Thats the deflation were talking about. And when you drove here werent you glad you paid less for gasoline when you drove here today . Yes. The driving age is very low in connecticut. What about you sir. Bostonian shoes for 65 off at macys and all the way up from north carolina. All the way from inconorth carolina to buy a pair of shoes. Amtrack. There you go. Reminding everyone this is the shortened trading day. So we are now heading in if you see kelly and me that is your signal of the last housh hour of trading. Back at the New York Stock Exchange with Mary Thompson holding down the fort there. What can you tell us. Britain may have cheerleaders and you may have shoppers but i have kids here today. Its kids day here. Despite the Falling Oil Prices a record day for the dow. S p recently turning lower and losing a little ground. But of course the big story has been the pull back in oil prices in the wake of that opec decision. Impacting yield as well. In turn giving lift to rate sensitive stocks. Were seeing gains in utilities, also consumer staples. Telecoms a telecoms and reits also reacting favorable. Online space coming out, and Department Store retailers looking strong as we head into close today. Energy of course we have to mention it. A bear market for the s p Energy Sector, which year to date is down just about 6. 8 but 20 plus of its year highs. Lastly the beneficiary, a lot of transport stocks. Airlines, also the delivery stocks and cruise lines. The dow up 52 and the s p a little weaker than that on the plus side. Back to you. Amazing, Mary Thompson, say hi to everybody for us. 8 and a half percent rally on jet blue . Stunning. One goes that much higher and the other that much lower. That it is story today. Oils continued plunge. What a day. Right. Crude Oil Prices Continue to be under pressure. Down about 6 . The last time we saw crude oil fall by 6 in a day was back on september 22nd, 2011. Were looking at 20 trading days following september 2 2nd 2011. Wti, west texas intermediate crude did manage to rebound around 6 . With regards to how certain sectors fared we looked at Broader Markets that tracked those factors. They gained. A nice rebound during that time at least for energy remitted stocks. Other sectors etfs that performed well for the financials. And the industrial sector xli up about 10 . With regards to historical simulation it is impossible to replicate exactly what happened at any given time in the past but at least for right now for some traders for a shorter term trade may be looking for a possible bounce in some of those stocks. Back to you. Thanks. Well be checking back with you over the next couple hours here Closing Bell Exchange in the in the meantime. Michael far with us. Rick santelli is in chicago. And look who we found at the Stanford Town Center mall in stamford connecticut. Steve leaishman. And look how he dresses during his shopping. I want to add a lit class. And how about the price of oil. Its a big deal. For consumers and political. But america has become much more of an oil producer than in the past. So there is going to be some negative effect. What ive heard is a very technologically driven oil boom so there are fewer workers in the oil fields. Put a single well in, you go horizontally so not as much is there. But you are getting closer, i think blowing out peoples bottom price target here. You thought maybe 80 was the bottom. Now your towards 70 and talking about a 60 handle on west texas crude. That is going to change the calculus. Its going stop some future investment but not much of whats in the ground already. Can you talk about the risks of people owning this high yield credit. Do you discuss any spillover . About five, six weeks ago we had the big downdraft in stocks, everybody teamed up the reason being dropping Energy Prices and certainly some companies are going to make less but new School Companies are going to make more. Similar type of logic should apply. There may be deals and loans and securities that wont fair well with dropping prices. A lot of structured finance based on commodity, energy in particular that may not fair well but in the big picture i think it is a renaissance. And with regard to you stole my line. You know, you are at a mall. Black friday is typified by falling prices and i think nothing else shows the glaring tight boundary of central bankers just assuming that any time prices go down it is bad. They are wrong. And history will prove them wrong. And it cease so true. Look at the smiling faces. In europe, take the analogy. Europe need to mark things down because people have less jobs, less disposable income. It isnt something to fight. It is something that nobody can stop. Michael far you have been a bull on this market anyway. Does this just reassure you that you are on the right side of trade on this or what do you make of this . It scares the held out of me actually. Ive been riding the bull for the few years now. Weve always fully invested but ive been trying to been a little more cautious in here. Markets are making new highs and in 2008 and 2009 you talked to a lot of investors who had no interest in buying stocks. Now they all want to go in. Were going up to 18,000 on the dow and people are saying okay i need some of those stocks. That is a sign. So i think caution is very much warranted but you dont fight the fed and you dont fight the take tape. The fed is being accommodative and the tape is moving higher. Im still in the party. The fact that this space is now basically in a bear market is the Broader Market going to follow suit . Or does this give further fuel to consumer and transport industries . This is a disruption in the markets for energy but on the other hand you have a wonderful tax relief for the average investor out there and the average consumer out there. You can see it in the malls. You can see it in the optimism. You can see it in the airlines stocks. You can see it across the board. So it is disruptive. But it is one sectors loss is anothers gain. I think the issue really becomes how far we can go before we get some kind of pullback in here. But in the short run this is A Santa Claus rally. Im a believer in santa claus and i believe in this radlly. As gleeful we are about the decline of gasoline prices, what does this do to the fed and Inflation Expectations that have yet to hit their targets at that point. I expect them to be consistent in that regard. They were looking through higher Energy Prices. When Energy Prices fall they are going look through and continue to look at the core. The export and energy numbers. What they are looking for is a general move in prices. A single price decline is not really going to hurt them. And back to what rick said. Yes lower prices for energy are good. But that is a single block. When you talk about the generalized deflationary environment guess what else falls . Your wages and that is what fed is trying to avoid and that is what people think of the negatives of the deflation. Thats happening to people out there is that their real income is rising. Their costs are going down. Dollars going further. Right. Dollars are going further. That is well and good. If you were to get into a generalized deflationary environment. Prices fall, wages fall, Living Standards fall. And thats not what we want for the holidays. Dont spoil it. Just saying. What does it mean they are not spending it. The consumer doesnt seem to be spending the extra money they are saving. The savings rate is hanging tight and looks like it might creep higher so they are not fuelling the economy anymore. Is that a concern . You can lead a shopper to the mall but you cant make theme spend michael. That is the old edadage. And here is the deal. The deal is people are going to set their savings rate at a place they are comfortable and nobody in government or business can change that. The only thing i can tell you is dont say a consumer wont spend till you tell me the price they wont spend at. If they are going to lower the prices and lower the prices they will part that consumer with their dollar. They have 2 Million People more with jobs today. As the real opportunity here. Yeah. We sense that around here too patricia. Thanks for joining us. The far family, michaels 106yearold grandmother left us yesterday on thanksgiving. Our sympathies to you. She was a dear lady. My gram thndmother nana. Thank you. And 45 minutes to go. Energy is the big thing weighing on the index. The s p now slightly negative. Nasdaq still up 16. Much more ahead. Our special black friday edition of closing bell coming your way. Were following the oil story throughout. And when we come back it is all about the shopper. Mastercard has Real Time Data on sales so far. Also will december bring us A Santa Claus rally with gas prices falling. Why not. They look happy. Santa looks happy here. Zapped it, right to our house. And thats how they got it here. So, santa has a transporter . For the big stuff. And its a teleporter. Cool. The magic of the season is here, at the lexus december to remember sales event. This is the pursuit of perfection. 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Get medical help right away if you have symptoms of a heart attack or stroke. Decrease alcohol use while taking chantix. Use caution when driving or operating machinery. Common side effects include nausea, trouble sleeping and unusual dreams. Im a nonsmoker, that feels amazing. Ask your doctor if chantix is right for you. Sarah quinlan joins us now. We heard early on this would be a Good Shopping year compared to last year especially. Are you seeing that so far. Absolutely. Our forecast is 5. 5 year end year increase for the holiday seas season. Thats amazing because. Is the drop in oil making all the difference here . How much relief at the gas pump is translating into to holiday sales boost. It is and has been for the last month and a half. As prices have come down. Now they are 11. 3 below last years prices. That is an immediate gift. But the consumer is spending differently. They are spending experienci experiencially. Last year we had a tough winter. And that may have kept people out of malls. Do we have more shopping day this is year or fewer . Are we actually seeing more buying going on . Or are we looking at differences compared to last year when there were a lot of speed bump, if you will for that shopping season last year. Great question. Actually we are buying more. And that is the most exciting thing. We see this trend across the board. And this is the advancement of mobile and ecommerce in addition to bricks and mortar. And while ecommerce is only 6. 3 of total retail it is increasing on a double digit number and we continue to see that. And that will benefit especially with poor weather in the midwest and northeast again. You also mentioned i think in the preliminary notes you are seeing divergence between spending at large versus small establishment. What can you tell us in terms of level of detail people are spending . Very exciting. In our spending pulse weve seen spending 3 to 5 ahead of the total retail sales number. We know the consumer is preferring the boutique spending and this will carry through into the holiday. In addition when we look at numbers going through yesterday and the like we are seeing this movement into apparent because the weather got cold. And into Department Stores as well. So there is i think going to be this mixture of both. But it is because the consumer is working and they are actually spending. And they are not saving. I disagree with the previous comment that was being discussed. They are actually spending the money they have and were looking forward to them continuing to do so all the way through Christmas Day and beyond into the end of the year. Break it down for us online versus brick and mortar. Last year we saw big inroads buying online. In part maybe because of the weather. What are we seeing so far this year. This year again double digits. Last years was 25. 3 year on year increase from the year before. I doubt it will be that big. Because remember the base gets bigger all the time but that said i fully expect double digit increases there especially with apple pay and other mobile payments being allowed. This is the way and our master pass online is the way people want to shop. Its all about the consumer driving when and how they want to shop at the time they wish. Shop responsiblresponsibly. Thank you for being here and i love her point at the boutiques as well. You like to see that some of the smaller establishments get the benefit here. That is where the jobs are created. Heading towards the close. As the shortened trading by a dawes because of the holiday. The dow up, the s p down two points the nasdaq up 16. Mastercard is already seeing it. Are lower gas prices giving consumers a boost . And if you are hoping for A Santa Claus rally to keep spirits high to the end of the year, hey lets ask santa himself. I know if A Santa Claus rally will be coming down. You will too next on closing bell. Welcome back. Were still at the mall here on black friday. Domonic chu is tracking the movers in the stock market on this holiday shortened session. An all time high for the dow and the transports. What else . So many things happening in the markets. But there is the pain first. Bad news first. Of course it is the Energy Sector. Well hit that again. The worst performing group in the s p 500 by for r far. A as a whole down 6 yesterday alone. Exploration Production Companies taking a hit. Newfield, qep among those names. And the large companies. Meanwhile lower prices may translate to higher profits for transport companies. Airlines all soaring in the days trade. And since it is black friday and you are at a mall, one of my favorites by the way. Lets check Consumer Discretionary stocks also benefitting as shoppers get a break on fuel. Bigger ticket items getting a boost there. And i used to get my haircut at that barbershop maybe 50 or a 100 feet from you right now. I wish you were here dom. If you leave now you can make it. Im gonna try. As long as traffic is not too bad. See you later. All three major averages on track for a sixth straight week of gains. Are we expected to keep up this so called santa claus rally as we head towards the end of the year . Robert luna ceo and cio of the. And jeff. Is this rally historically for real and does t like loik it is going to happen this year. This is not the santa claus rally. That is the a last five days of the year and first two of the new year. Watch out for early december. Usually a little weakness with tax off selling. You are a little skeptical. You think any gains are going to be hard won now. I think were breatpretty go through the middle of next year. Very strong up about 25 and 34 of the nasdaq on average. I think were going to get all of that. But after that i think it will be harder for the gains to continue. Robert luna. Part of the reason why i find this whole question interesting is that if there is such a thing as the santa claus rally it should carved out of market. From your perspective should we expect a rally this time around. I think so. And whats interesting is im out here in Southern California and the weather is even unseasonably warm. And doesnt feel like christmas but i passed about two or three Christmas Tree lots today and they were packed. And the reason is really if they are going to sit around and wait for 40 degrees it is probably not going to happen. And december is too late. So you are out there. And the same with the stock market. Lower rates right now. Companies are very profit able at this point in time. So you have the calendar on your side and cheap gas. You have to go out and buy stocks right now. Lets zero in on the calendar point. People keep talk about the calendar effect. Why should we expect and do you expect A Santa Claus rally in the last five days of the year. I think so. With Interest Rates so low you have to be invested in stocks. And right now it is not a point in time where you want to buy the losers. I dont think you want to go out and buy oil because they are going to continue to get sold off. But the winners are going to continue to lead and those stocks are going continue to do well in the last five days of the year. You follow the traditions and cycles. This is not traditionally weak time for oil so how does this skew everything with the what opec has done and the four year lows. Au contraire. This is the point where they actually start to bottom. We get a seasonal low in december. And were ready go with that. Looking to get into the spider energy, the xle even further declines if we can get that. Otherwise well be patient and wait for that december seasonal annual low period for oil stocks. The commodities themselves, oil and natural gas dont usually bottom until the february period but the stocks that the Big Oil Stocks make a low in december. We got to go. But would you steer clear of those for tax law selling purposes this time around . Thats when we want to get into them when they start getting sold off even further. Appreciate your perspectives from both coasts here on this black friday. Im hearing from all of my Facebook Family and friends out in Southern California, they are rubbing in the weather. How nice for you. Well were glad youre here. Im so thrilled to be here. I am. 30 minutes before close now. Marketing off the highs of the session. And transports were up 115 today. Some of that coming out of the market. S p is down 4. Are you buying Holiday Gifts today at the mall or online . Take part in our live poll by clicking on cnbc. Com vote. And well be keeping track as we go. When we come back, two people have been scouring the malls in their areas to see whats hot and whats not. And then later the head of Tanger Outlets joining us on this crucial day for his business. How confident he is in the u. S. Consumer and how much lower gas prices are helping. Stay tuned. Happy black friday, live from the stamford Town Center Mall in connecticut. And we want to know if youre buying and if so, what. So right now go to cnbc. Com vote. Our poll is open. We talked tot the ladies at the top of the show and they were buying for themselves. As long as youre buying i guess thats what counts. In fact two of our producers have been roaming the mall here in stamford. They are our eyes and ears here. What have you found guys . We found a great deal for you guys. 50 off one full price item, 40 off your entire purchase at banana republic. But i could have stayed at home today in my pajamas and gotten the exact same deal. The majority of the sales were finding also available online. Interesting the stores are advertising you can get this online because showrooming has been the ire of the tech world. For example the best buys. Do you think the stores are embracing the idea of ordering online. Some stores were offering instore sales only. So still incentive. Like barnes noble. If you want a deal on a nook, you have to actually go to the store today to get your nook deal. H m first hundred shoppers got a scratchoff coupon and macys you use your iphone and you got a deal on the spot. You cant get that online. And some say they can dig through the clearance racks and maybe get a little more bang for their buck by coming in. That said, if i were to go to clarks yesterday i could have gotten a better deal on thanksgiving day. At home in my jammies and gotten 25 off yesterday and only 20 in stores today. So weigh the ups and downs and decide for jooyourselves. I think its very important. Online is going to make more inroads down the road. We have this discussion of whether or not black friday is the best day to get the deals out there. Its not a foregone conclusion anymore. You are right. Because were looking at the generations here. It is the young kids with mom and dad generation parents. So where are the millennial . They may be online today. Exactly. Thanks guys. Happy shopping. Find more bargains out there. Buy us that tesla or something. Oh that was last year. What are some of the hottest trend on black friday and possibly this whole shopping season . Executive director and senior retail of securities a nemours joins us. Happy blad black friday. Happy black friday. Are you doing channel checks. Doing channel checks and when i got here this morning it was easier to park than a random day. The reality is you cant go deeper than 50 off. We hit that last year. So it as question of time and br broader channels and the amount of people saying let me go online. And every mall i think is a little lighter than in the past. You agree . Its black friday week now. And were seeing these saeles come in on tuesdays and wednesdays. I think one of the retail has to deal with is there is just not a real reason to be here. And there are so many other ways to do it. How do you get someone in here to just really shop as opposed to just looking for the coupon. Having said that it is not like people arent shopping. They are. It is a matter of where. So are the retailers going to be okay . Or do they suffer because of this new trend here. We started talking about this last year on this program. We were here. And if you have the choice of getting a concentrated amount of sales in a two to three hour window. You know how many people you have to staff. You have the utility costs and how much you have to market. When thats stretched out you are now competing against competitors, consumers and yourself. Because you have to figure out. It is a game theory. When do i go to 50 off. When do i keep it at 40. So you may be getting the sales but what does that hit the bottom line . And what are you learning so far . As were now pretty much coming through black friday week. Who are the winners and losers . This group. Rel they have to change their way of thinking. Too much focus on stores and fixed cost in terms of leases. They are going to have o change the way theyre doing business. At the same time you have tremendous pressure from other competitors such as uniglow and that dont care as much right now as being profitable. So were seeing lower inventory not driving better margins. Its more how you market and how strong is your brand and where is your niche. So who are the winners . Signet jewelers. They are winning. One thing right now is a growing divide between apparel and non apparel. For us we go towards the jewelers. We like michael kors. And we look at strong brands. Oxford and tommy bahama or the vera bradley. G 3 is the largest outer wear player. The cold weather here has brought a large sale of outer wear. Weve been asking viewers as well. Will you buy Holiday Gifts today . 57 saying in some way shape or form they certainly are. Very good. Thanks guys. Trading at the lows of the day apparently. Weve got 20 minutes left in the session here. And look at oil. That is just that is the low for the session right now. 37. 67. 73. That is incredible. We were talking about this yesterday and also trying to follow what was going on this shocking decline in the oil price again. Were having that bear out today. Below 68 on wti. We were over 75 last week . Three days ago. A shockingly swift decline. One trader said to me last week, 70 dollars and oil and a screaming buy. There are a lot of people who were convinced opec would cut production and wed see a much bigger rise in the price of oil. Its not happening. Coming up the ceo of the is going to tell us if black friday will leave him in a better spirit. What kind of impact is the oil price having to boost and support his business. Later if you are in the market for a new car, head to the showrooms. Today is the day apparently. Phil lebeau says some of the best prices of the year. And are lower prices causing people to take the plunge on even bigger vehicles. Im only in my 60s. Ive got a nice long life ahead. Big plans. So when i found out medicare doesnt pay all my medical expenses, i looked at my options. Then i got a Medicare Supplement insurance plan. [ male announcer ] if youre eligible for medicare, you may know it only covers about 80 of your part b medical expenses. The rest is up to you. Call now and find out about an aarp Medicare Supplement insurance plan, insured by unitedhealthcare insurance company. Like all standardized Medicare Supplement insurance plans, it helps pick up some of what medicare doesnt pay. 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And could save you in outofpocket medical costs. Call now to request your free decision guide. And learn more about the kinds of plans that will be here for you now and down the road. I have a lifetime of experience. So i know how important that is. Welcome back. We did that together. Thats perfect. Go ahead. No, listen, the dow heres whats going on right now. We had from a high of 66 points in this abbreviated trading session this morning. The initial positive reaction to that sharp decline in oil bearing out is now being weighed down frankly by the underperformance of the energy space. The dow has just gone negative on the session. And were seeing oil lower as well. I think there is very much a correlation between u. S. Equities and the price of oil. Wti was setting lows for the day as well. Were seeing the oil stocks really take their toll on the industrial average now. And the s p off by 6 today sets the tone for the rest of the Holiday Shopping season. For many retailers, though our next guest last night was focused on. Many things. Lets ask him whats hes focused on. At the Tanger Factory Outlet centers. Steve tanger joins us. Were looking at the traditional mall here steve. What about the traditional outlets . How do you do on a day like black friday . Is this bigger for you than normal . Absolutely. This is the biggest day for the year at Tanger Outlets around the country and canada. Consumers flock to centers. Starting at about 6 00 last night and the values are just incredible. Ive been listening to your show. And people will respond to great pricesal where they have total and complete size ranges and the same quality as in other retail distribution channels. But at significant savings, anywhere from 50 to 70 off. It was interesting to here simian suggest you cant go lower than 50 off. Is he right . Depends on the store. Just depend on their strategy. I dont think there is a floor on retail prices. I would tend to disagree with that person who was on previously. But is that a fun usually you get the deep, deep discounts when people are not buying. If you are suggesting we can see deeper than 50 does that mean the consumer is not expected to be there this Holiday Shopping season or what . Oh the consumer is showing up in large numbers. Our traffic is up over last year by high single digit, low double digits since 6 00 last evening. We dont have sales reports yet. We will probably have an indication early next week. But the specific question that you asked about a floor on discount discounts . My guess is that as you get deeper into the season, as our retailers clear inventory towards the end of the year that you may see discounts greater. Steven, just a last question they think for you guys especially being located off a lot of u. S. Highways is especially relevant. How much additional impulse to that traffic or spin do you think that is having right now. The thing that drives traffic and Sales Productivity is price. Price and value. Low gas prices are great. More people working and more money in circulation is great. But people still respond to a great value when they buy for themselves or they buy gifts for their loved ones. All right. Steven tanger of tanger fact or outlets. Thank you for being here. And really all about price. Gas prices too but maybe just what kind of deal you can get. Stock price toos. And those are on sale. The dow has turned negative on the session. S p down 5 or 6 points. And oil and the extent to which that portends poorly for some of these developed economies is on a lat of traders minds today. Heading towards close. Three big stories today. Oil, shopping and the new trailer just released from the hotly anticipated star wars movie the force awake nens. And also ahead, should black friday be, get this, a National Holiday . I think the crowd here might think so. Our Steve Leishman has the Economic Data to back it up when we come back. vo watching. Waiting. For that moment, where right place meets right time. And when i find it i go for it. announcer at scottrade, we share your passion for trading. Thats why we give you the edge, with innovative charting and trading features, plus powerful mobile apps so youre always connected, wherever you are. Because at scottrade, our passion is to power yours. And youll see just how much it has to offer, especially if youre thinking of moving an old 401 k to a fidelity ira. It gives you a wide range of investment options. And the free help you need to make sure your investments fit your goals and what youre really investing for. Tap into the full power of your fidelity green line. Call today and well make it easy to move that old 401 k to a fidelity rollover ira. In a we believe outshining the competition tomorrow requires challenging your Business Inside and out today. At cognizant, we help forwardlooking Companies Run better and run different to give your customers every reason to keep looking for you. So if youre ready to see opportunities and see them through, we say lets get to work. Because the future belongs to those who challenge the present. Now with the you can watch live tv anytime. Its never been easier with so Many Networks all in one place. Get live tv whenever you want. The xfinity tv go app. Now with live tv on the go. Enjoy over wifi or on Verizon Wireless 4g lte. Plus enjoy special savings when you purchase any new Verizon Wireless smartphone or tablet from comcast. Visit comcast. Com wireless to learn more. Welcome back. You never know who you are going to find here at the Town Center Mall. It is david doris. Happy black friday to you. Nice to see you. Great to see you here. Lower oil prices early on was good for stocks. Now we are starting to see a drag as we head towards the close here. Is it good or not . It is good. 63. However, gasoline is only 4 of the consumers budget. Food is 11 . It helps a bit more on the mind than anywhere else. Confidence has been high and slipped a little this week but has been to the high side. Now, december is the single best month of the year for the last 63 years since 1950. There have been 48 up decembers and 15 down. On average december rises 1. 7 . The best december of all time was december 1999 in the midst of the dot com boom, 22 in one month. You have to look for a good rise through the end of the year. We certainly saw that last year, too. We just accelerated into year end. How do things change when the Energy Sector is already in a bear market . Does that get exacerbated . Great point. Energy stocks mid year the s p only 43 Energy Stocks in the s p 500. They represent 11 of the s p market cap mid year. Tech has gone up and energy has gone down. They are only 8 of it now. It has some drag. A lot of drags has been done. We said technology and health care are the places to be and stay there. You can bottom fish. Look for yield, people who you can find stocks that benefit from lower oil prices. Saudi arabia has its finger on the sale button. No question about it. We are going to take a quick break here. Look who came shopping. John steinburg is here. He brought his family. This is cooper. We heard you guys were in stanford. Are you finding bargains . Online. Year over year traffic is up 50 . And we are seeing e commerce transactions at 30 . Both figures up from yesterday. Are you shopping on the ipad . Yes, she is. You make your dad go buy you something nice there. Good to see you guys. Thanks for stopping by. We will come back with the closing count down as we head towards the close for the last trading day of november. We only have an hour left here at the mall. It is going to be a Top Executive from the mall, one of the biggest Shopping Centers in the world to give us her reading of this black friday. Cant wait to hear what kind of traffic they are seeing in minnesota. You are watching cnbc. 90 seconds left here back with david doris at the stamford Town Center Mall. What are you looking for this shopping season . This week we are going to see jobs numbers come out friday, 240,000 is the estimate. Wrou get ism manufacturing on monday. I think when you blend together the physical retailing and online you see better. Last year was better from the year before. You mentioned we are going to get top level data next week. You know we havent had a great run for the last couple of days here. What happens if the data disappoints given we are seeing near record lows in yields . Does that change the trading environment . Kelly evans you are seeing very, very great concern about lack of Pricing Power especially in europe. The french bond today was yielding 1 . Thats a germantype yield. That is a swiss or japanese type yield. You definitely have this worry. The job numbers have been pretty good. We are going out for the last trading day of november. I think we are still positive for the week for the dow and s p and nasdaq. Stay tuned. Hour number two. And thats the scene at the New York Stock Exchange. Our special black friday edition of the closing bell continues here at the stamford ball in connecticut. Here is how we are finishing the day, the month and the week on wall street. The dow, well, look at that. We are going to finish positive. A little buying at the close there up six points will make us positive for a sixth straight week. I think we may not do that for the s p. Oil stocks are going to take a toll there and nasdaq up four points. We are at 4791 on the nasdaq. Along with our very own Steve Liesman and more fr. He is doing black friday shopping in minnesota. It is great to see you we have been talking a lot about what we have seen on the ground in stamford. What jumps out to you about the activity in the mall of america . There is a little pushback about being open on thanksgiving. A lot of shoppers werent as delighted about that as you might think. People really do like what they have seen as far as the prices. A lot of sales and. What do you think of the decline in the price of oil . Are you shorting things here . What are you doing . The etf would be declining rapidly. And then they doubled down and bought the 84 puts. I think positive things. Opec holding at 30 Million Barrels a day. That is positive for u. S. Consumers. If you work in the oil patches not so positive for you because there may be some cutbacks there. However, how long can they burn their money . We know saudi is basically just flooding our market with their oil as best they can in an effort to push down prices. They will be losing money for a long time on that trade. So i like what it is going to do for the u. S. Consumer. Its funny. We welcome can Steve Liesman here to johns point this is the one that will hang over the u. S. Economy for all of next year barring a rebound in oil prices. How bad is this going to be for the oil Services Parts of the economy. The u. S. Is now more of an Oil Production country so this does hit us to some extent. People shouldnt get carried away. It is as good a way as any to figure it out. We are importing more oil than exporting. Trade balance for petroleum is negative. Yes, they will be regionally paid in certain places that have had really unbelievable booms, places that are just like overfunding higher education. One place i went to where they gave the teachers a raise and asked superintendent why did you do that. He said because i could. 18 increase for teachers. Some of the shine is going to be taken off that. Ultimately vast majority of americans will benefit. The noise level has gone up here at the mall in the last hour we have been here. I imagine it will continue into this afternoon. What are your expectations. I remember it was 20112012 we had the best retail calendar, most shopping days. One of my friends was telling me it was going to be such a Great Holiday season and i kept saying that is two more days for people not to shop. It turned out people stay home. Its like we have the black friday period. The week before christmas is always a good week. Trying to figure out as you have seen here what the read is for the u. S. Consumer. By the way, you have gotten 18 rules of trading to help people into the year end . I always put out my rules of trading. Sometimes it is 21, sometimes 17. This time it is 18 rules. Very simple rules of trading the most important of which is do more of that which is working and do your best. Works in life. Do more of the things that have been working for you. Try your best to do less of that. Add to your winning trades. Cut back on losing trades. There is no secret to the business. Did the drop in oil change some of the equations that you may have had for trading going into the end of the year here . Not really, bill. Im not at all surprised by the weakness in crude oil. People laughed at me several weeks ago when we thought we would see crude drop because the term structure in the futures market was moving and that told me there was an abundant supply out there. The fact that opec is broken apart and is really now a broken cartel only serves to make certain that crude oil prices are still going to fall even further. I think they have a lot further to go down. I think the term we used here on the show this is unambiguously good for the American Consumer and bad for north dakota. Its not that good for south texas but for the rest of the country this is extraordinary good news. Dennis, you and i both lived through the 98 drop in oil prices where it got down 10 and 12 a barrel. When i see this meeting it strikes me as dejavu on the first inning last time when they met. It will go through a process. I remember people saying opec is done for. It is a matter of putting together enough pain on the part of suppliers until they become. The difference is the american Oil Production. What do you expect in terms of shutting in on american oil and what does it take before the oil market finds stability . I think it can be quite some period of time before the production here in the United States is curtailed. It takes so long to bring new product on to put new pipe in the ground to put new drills down. It takes a period of time. Banks have lent money on new drilling. You probably will have an expansion of crude production here in the United States for at least another six months or nine months and then we will probably see a slowing of increase in the production in the United States. We will surpass saudi arabia. It is a fact. And it will probably take 55, 50 crude oil to really stop and curtail the actual amount of production here in the United States. That will go on for quite some period of time. I think we will be surprised how much longer we can have increased amounts of crude coming out of the ground because of the production numbers on stream. It doesnt bode well as steve was suggesting for how much further the Oil Price Falls. There is one last thing i would like to comment about. This is not an extraordinary decline in crude oil. We have to go back to the turn of the 20th century, late in the 19th century. Two times crude oil fell over 95 from the highs. It did it in 1898 and 1903. Dont hold me to the dates. Im pretty close to that. The fact that we went from 140 to 40 a barrel last time. The fact you are only down about 40 that is not an extraordinary decline and it is not unprecedented and people need to realize that fact. We have seen much, much weaker prices of crude oil in percentage terms than we have gone through this time. There goes gartman showing off with dates that he well remembers from his college days. He looks really good for having been there. The deals may not just be at the mall but may also be one on wall street. Dominic chu has details for us. We have vodafone saying they could be exploring a deal. The combined company would be europes largest tv, internet and phone company. The discussions have taken place internally and would take place as a cash transaction rather than a stock swap. Thats according to the report. Vodafone and Liberty Global shares spiking up in the after hours trade. Americans shopping until they drop on this black friday. Will they spend extra knowing plunging Oil Prices Mean they will be paying less . We will get back to this topic next. Later Steve Liesman makes the case for why black friday should be a National Holiday. And its not just because he wants an extra day to fish or listen to grateful dead. He says there is data to prove it is basically pointless to work today. And the economy would actually get a boost. He will make that controversial case when we come back. Toothbrush. Sweater. Extra sweater. Headphones, sleeping mask. Oh, and this is the xfinity tv app. He can watch his dvrd shows from where ever he wants. Hey. Have fun, make some friends. Alright. Did i mention his neck pillow . sniffs pillow watch your personal dvr library where ever you go. With the x1 entertainment operating system. Welcome back. Good news for everybody shopping out for Holiday Gifts today. Its in the form of oil. Prices plunging after opec deciding not to cut production. Dominic chu, how bad is it . Which stocks could potentially be winners and loseers here . Last hour we told you the last time we saw Oil Prices Fall by around the 6 mark was back on september 22, 2011. We went through sectors that did well the last time. How about the stocks that faired well or didnt . Our partners at Market Analytics looked at dow components for top performers in the 20 trading days or rough month. Among best performing stocks were travelers group, also chevron, disney, jp morgan. As for the worst performing dow components American Express lost about 0. 5 . There are a lot of moving parts to any point in history. There are no easy comparisons. We wanted to pull the most recent occurrence to give you an idea of what things looked like then. The question is whether or not oil can find a bottom. Regardless we hover near record highs. The question becomes whether it becomes a leading indicator for what will happen for the stock market. Thank you. That remains to be seen. There are other sources of energy out there. The solar stocks have taken a big hit by the slide in oil prices. Morgan brennan has that part of the story for us. Did we send you to the sun . We are sending you great places. I will take a nice warm sunny place out in the desert. Taking a look at solar stocks they have been moving in tandem with oil prices. You can see that relationship here in this six month chart. Two biggest etfs. Those have tracked west texas intermediate futures lower. Those solar etfs are down double digits and also closed lower again today. We are seeing this largely on the assumption that cheaper oil will tamp down demand for solar. However, analysts note that is not necessarily the case that solar is a play on electricity meaning it is more directly effected by the prices of coal and natural gas which is up about 5 for the month. We are continuing to see this solar oil pattern take shape. First solar sun power, sun edison, solar city. All of those closing down big today. Thank you very much. We are here at the stamford Town Center Mall. I have three very tall men who have come shopping. What are we doing here . It is black friday. Shouldnt you be home eating leftover turkey and watching football . You guys are here. Thats why. We talk about the price of gasoline and the impact it may have. You guys here in connecticut are not seeing that much of a decline in prices because you have big gasoline taxes here. We started at a high er leve but it has come down. Are you going to shop more because of the lower gasoline prices . Unlikely in my case but im from palm beach, florida. I agree the prices are higher here because of the taxes. You have a little sticker shock on gasoline. It doesnt trouble me too much. Given the oil washout you would think gas prices would be lower and maybe it will filter down eventually. This is almost like a washout that is occurring today. Are you shopping more because of the lower gasoline . I would say so. I would say so. I think definitely combine that with good deals that we get on black friday. What are you buying . Recently we just purchased a new vehicle, too. But today definitely some clothes and some electronics. We are my wife and i we are shopping for some good deals. You are talking on television and your wife is out shopping. Thats a good plan right there. Thank you, gentlemen, very much. To this point is where oil is heading especially if opec continues to cut production in the months ahead. We bring in director of news along with rick snyder and Steve Liesman with me. Great to see you. Put the drop of oil already in context for us. It is a pretty big one in what happens in the months ahead. Do you think as the one guest suggested that we are flushing things out here or is it the beginning . Dennis did refer to it. The market is building up substantially in wti and building up more in brent. That gives you pretty big incentive to store. So future prices are out like one year or significantly higher than the current price in wti and brent. I think what might happen is you might get a little boost in demand for the short term as people look to buy oil and store it. That may moderate any kind of decline. When you look at the data for the First Quarter, what the opec output is going to be versus demand for opec output if they were trying to keep things balanced it is out of whack. That is a big hit for the market to take. One analyst thought things might not get ugly until the Second Quarter. I dont know whether they will get ugly on the First Quarter. That is an enormous amount. Thats exactly it. What do you think could happen in that case . How much further could the Oil Price Fall . Bh you are on the margin, i have to be careful here. When you are on the margin it can get very i put you on the spot. It can get very ugly. On the marginal barrel reference made at 2008 we got down to 40. The idea that there might be some kind of route that takes another 15 to 20 off the price doesnt seem that far fetched. At a certain point things will stabalize. That will be very much begging for the buyer. Things can get very bearish in a situation like that. Steve, im just going to stitch together what is happening in the market and ask a question that i know we went through 100,000 times. Look at the rally in u. S. Treasuries today. Look at the decline in other commodity prices. We have seen the crv index down like three years in a row. In other words, we are really coming off alltime highs and not just in oil and a function of the u. S. If that is the case [ inaudible ] for a global slow down beyond what we are anticipating . There are two ways to look at drop in oil prices . Supply, demand, combination . My take is what we have seen is more supply. So if i saw Oil Prices Falling because Economic Activity was surging down i would have a lot more concern. From what i read recently with regard to demand for oil it had fallen for opecs point of view from 31 Million Barrels a day in 2011 to perhaps maybe as low as 28 Million Barrels. The First Quarter of next year and the Second Quarter from next year the call on opec oil. I want to point out about demand. There is no collapse in demand. The u. S. Economy is kind of going along. Its okay. Its not great. The eia monthly numbers came out the other day comparing september to september and was down 200,000 barrels a day. There is talk about japan, europe and china but the fact is chinese demand in october was up over 3 and u. S. Demand year on year in september was down like 200,000 barrels a day. Thats not a lot. That is kind of a rounding figure. The u. S. On a demand side has been kind of a great bust. That sort of thing. Thats what i was going to say. We have had tremendous efficiency. I think some of that is inexorable. Lower oil prices takes some demand out of conservation and some of the Energy Conservation that is out there. Right now i think there are fewer people at this mall today than would otherwise be here because they can stay home and have their product delivered in a more Energy Efficient way by ups truck which hopefully someday will be running on natural gas. I agree with you that it is based on the supply issue. I think in the last couple of weeks and months you had this gigantic tipping point. Commodity cycles tend to run 15 years. The earl a, the last one, the last big bear one bottomed out about early 1999 when the price did hit 10. It may add 15 years. Here we are today. The one thing i would say as far as oil supercycles the shale comes on very quickly and drilling risk is very low. I think that is going to reduce the length of the next cycle. The 15year model may no longer be good. Thats interesting. It could actually get compressed. We might have a couple more cycles in that same period of time. Really appreciate your perspective this afternoon. Monday on street signs we have much more on the shocking declines in oil prices. Brian sullivan will head to the shale and will be reporting live on monday at 2 00 p. M. Eastern. We have breaking news on Proctor Gamble with dominic chu. Here is what we have. We have reuters reporting that Proctor Gamble is exploring a possible sale of the wella hair care business and obtained services of Goldman Sachs to explore the possible sale. Possible price tag could be as much as 7 billion in the sale of this wella hair care business falling on the heels of them getting rid of or selling to berkshire hathaway. In efforts to stream line brands and businesses ceo earlier said this year that they wanted to focus on more brands is possibly looking to sell that wella hair care unit. They obtained Goldman Sachs. A sale could be around 7 billion. We will keep an eye on Proctor Gamble for headlines. Thank you. Now from connecticut to minnesota. Coming up we will speak to one of the Top Executives at the mall of america to see how traffic is shaping up today and whether it will be a happy holidays for retailers. Its not just electronics and clothing on sale today. Phil lebeau will explain why auto dealers are revving up some of the best car deals on what is becoming one of the busiest car shopping days of the season. Stay tuned. You dont need to think that makes our lives possible. Because we do. Were exxonmobil. And powering the world responsibly is our job. Because boiling an egg. Isnt as simple as just boiling an egg. Life takes energy. Energy lives here. Like it or not more and more Stores Opened on thanksgiving this year. Is it taking a toll on the crowds that are showing up at shopping malls today . Courtney reagan is taking pulse of shoppers in the midwest. Any perspective on the impact of the oil decline . I will start off with the first part which is the traffic. Overnight we saw a lot of traffic at walmart, best buy. Perhaps it killed some of the crowd that way but actually as the day has worn on the mall traffic has gotten better. We will pan the camera and show you what is happening here. It looks as if we are seeing more families out, a little more bags than what we saw overnight when it was really more of the millennial shopper. This is the heaviest traffic we have seen so far. J. C. Penney ceo saying the 5 00 p. M. Opening did help them get an edge on competitors particularly in the midwest and northeast. He said he is encouraged by what he is seeing. Shopular is an app that tracks customer interactions. 40,000 different retail locations. It is saying on average shoppers are spending most time in macys, 69 minutes followed by j. C. Penney, sports authority, old navy and toys r us. Best buys website was offline and is now back online. The company saying they saw a concentrated spike in mobile traffic and so they proactively pulled the website back to fix issues that occurred as a result. As far as the oil prices im not really sure it is having an impact on shoppers today. They said it is christmas. We spend what we will spend. We wont pay that much attention on gas prices right now. Amazing. Courtney, thank you very much. She goes home to the heartland. It happens every year. We are all kind of learning how to do this. It is not just retailers hoping to cash in on black friday sales. Believe it or not this weekend is actually one of the busiest of the year for automobile sales. Phil lebeau has that story for us. Reporter its been a busy day at this buick gmc dealership. What we are seeing here, we are seeing at dealerships around the country. This is going to be one of the five busiest weekends of the year when it comes to auto sales right up there with labor day, memorial day. This weekend will likely generate between 20 and 25 of the entire sales for the Auto Industry in the month of november. It helps that almost all auto makers are running promotions geared towards black friday and most dealers in most markets are doing the same thing. What is selling . Gas prices are falling. Suvs and crossovers are in demand. So are pick yupz. This is the beginning of the luxury auto sales. Starting this weekend you will see strong sales for luxury name brands. Next tuesday we get the november auto sales report. When you look at this year remember we are coming off of last year. Sales totalled 15. 6 million vehicles on pace for 16. 5 this year. Because we are expecting a strong weekend many believe the sales for november will come in at 16. 8 to 17 million. That is the pace of sales not the total number. I leave you with one final stock. Shares of ford moving a little higher today not doing a lot but keep in mind yesterday or two days ago on wednesday they delivered the first of the new aluminum fseries. Went to a buyer in texas. This is the beginning of them rolling into show rooms across the country. Guys, back to you. Phil, i have to know, do people do the car dealers sell the big red bows you see on commercials to put on top of the car . I can tell you they do. Usually they rent them and it is not cheap. If you want to surprise a spouse or loved one and say i will get you the big red bow, be prepared to pay. I guess that is the luxury segment. You look like you have done this. I have done that, yes. Have you really . Yes, i did. So sweet. How much was it, by the way . I dont remember. After you pay for the whole car paying for a bow. Its usually about 1,000. Its not cheap. It was not that much. Phil, thank you. I think the auto dealers are learning over time how to monetize this asset. Maybe contributing to the drop in oil demand, all these Energy Efficient cars. Steve liesman says black friday should be a National Holiday. And hes not saying that just to be popular. He already is. Steve has the data to backup his idea on that. We want to know whether you think today, black friday, should be a National Holiday. Weigh in now with your vote. Cnbc. Com vote. We will see if you agree with steve or not. Big shopping deals arent the only things people are excited about today. There has been an awakening. Have you felt it . Thats the first trailer for the new star wars movie. It is out and we will show you here as an early christmas present, the entire thing coming up on closing bell. Helps you be Ready Anytime the moment is right. Cialis is also the only daily ed tablet approved to treat symptoms of bph, like needing to go frequently. Tell your doctor about all your medical conditions and medicines, and ask if your heart is healthy enough for sex. Do not take cialis if you take nitrates for chest pain, as it may cause an unsafe drop in blood pressure. Do not drink alcohol in excess. Side effects may include headache, upset stomach, delayed backache or muscle ache. To avoid long term injury, get medical help right away for an erection lasting more than four hours. If you have any sudden decrease or loss in hearing or vision, or any allergic reactions like rash, hives, swelling of the lips, tongue or throat, or difficulty breathing or swallowing, stop taking cialis and get medical help right away. Ask your doctor about cialis for daily use and a free 30tablet trial. Another rough trading session for oil after opec decided not to cut production yesterday. Bertha coombs just how far did crude close down today . Down more than 10 as we headed towards the close. We are closing at a fiveyear low just above 66. It wasnt clear it was going to hold that. Brent holding 70 all because opec decided to stand at 30 Million Barrels a day production. The fact is opec has actually been putting out more oil than that. Citi analyst says if they dont go back to the actual quota of 30 Million Barrels a day that is 700,000 or more likely 1. 2 Million Barrels of surplus that they will be producing going into the First Quarter and that is going to mean a lot of volatility for prices here because you effectively have no one taking their foot off the gas. For the quarter both brent and wti crude prices are down 25 , over 25 . That is just in this quarter alone. If that continues for several months out that is really going to be very tough for producers all around. Of course, you like to see this. Its pretty good news for folks at the pump. We are at 2. 79 a day for the national average. I filled up on the way to the mall the other day. It was a fun experience. Before i got to connecticut. I am worried about some of the hedge funds and guys with big oil positions. A 10 move in one session. If you are on the wrong side that can hurt. Thank you very much. We want to get another channel check with our two producers roaming the mall with a tough assignment. Tell us what is really going on out there. Last time you were with us you were saying you are not that impressed with deals being offered here. Is that still the case . It is true. I will say that the shoppers are coming out in droves. In the last hour traffic has picked up significantly. And picking up from berthas report, some of our shoppers are saying that they are feeling less cash strapped this year and buying more. They are making their Holiday Season a little more dramatic. Because they are definitely having more money to spend. Are you seeing more millennials out there . Not really. Definitely families. People are saying the reason they like to come shopping especially when talking about clothing retailers you get an opportunity to see the product, feel it and try it on. If it doesnt fit you are not dealing with returns. It is a lot easier to return something in store. We know it is a nightmare to return something online. We also noticed some of the higher end retailers, michael kors does have some deals. Not a ton of traffic in the store. Its definitely a mixed bag with the high end retailers. The apple store is very crowded but dont have promotable deals. You are not going to get a laptop for 50 off today. Thank you guys so much. Not only are they hunting for bargains but now are hunting for millennials. They cant find them. Not in the mall today. Many americans are off from work today. Its not everyone because black friday is no National Holiday despite what we may be seeing out there. Should it be . Steve liesman says it should be. He has the Economic Data to show why. You at home may not have the same data. We want to know what you think. Should black friday become a National Holiday where we get the day off to go shopping . That means no mail, no stock trading and no work. Go to cnbc. Com vote and cast your vote. Make the case for a National Holiday. How many National Holidays are there in america . Eight. I have no idea. The answer is 0. There are no nationally mandated holidays. The states one by one make individual decisions. In america there is no mandatory holidays. What about thanksgiving . It is not a mandatory holiday. The federal government can give federal workers the day off but cannot mandate a business be closed. I sense another executive action coming. This is not immigration here. Zero days off in america and 23 of workers have no paid time off. Average paid time off is ten vacation days, six holidays. Our productivity is a little better than other countries but not better than all of them. Let me show you other countries. America 16 nonmandatory. Austria leading developed world. 38 mandated holiday and vacation days. France 31. Uk 28. Here is data for you. How many days in a work year . 220. We do 1 to 1. 5 productivity in a year. We can take two extra days off or live like we did last year. I know last year was not the best. We dont want to settle for last year. Plus see all of the people in the mall . Multiply it by more. You would have greater retail sales plus data show more time off means better workers, more productive workers in the long run. There are two ways to make up the time. Plus we can do it. We have the productivity in our economy. Are you convinced . I am looking at the vote here. 57 of the people watching right now do not think that this should be a national who are you people . Who are the 44 who think it should be . There may be some opposition to a paid nationally mandated. It would be great to just make it a day so that we dont have to come in. Call it National Productivity day. My idea, if National Productivity falls below 1 we go back to work. All employers are voting right there. I have been doing this for 12 years. I have met no traction at all. How is your productivity . We know its busy here in the northeast but we are wondering whether it is busy at the mall of america. We are going to do a channel check there in the heartland of the nation when we speak to the Top Executive at the biggest mall of the land when we come back. Stay tuned. You need to catch the 4 10 huh . The Equipment Tracking system will get you to the loading dock. There should be a truck leaving now. I got it. Now jump off the bridge. What . In 3. 2. 1. Are you kidding me . Go. Right on time. Right now, over 20,000 trains are running reliably. We call that predictable. Thrillingly predictable. Alookin good close it up got it. And then, santas helpers boarded the train, and off they went. And thats how we got it. Wowww. You guys mustve been really good this year. The magic of the season is here, at the lexus december to remember sales event. This is the pursuit of perfection. Get to the terminal across town. Are all the green lights you . No. Its called grid iq. The 4 51 is leaving at 4 51. They cut the power. Itll fix itself. Powers back on. Quick thinking traffic lights and self correcting power grids make the world predictable. Thrillingly predictable. It has become busy here at the stamford town center. Lets get a perspective from another part of the country and see how the foot traffic is on this black friday. Joining us with a look at shopping in americas heartland is executive Vice President for Business Development at the mall of america. Its great to see you. We are talking about a part of the country that might be negatively effected by the drop in oil prices. What are you seeing on the floor . Well, we dont see it here. It is absolutely one of the best holiday kickoffs we have ever had. We have had 217 people so far since last night at 6 00. We have been talking a lot here about Online Shopping and the bite that that takes out of the foot traffic for the malls here. You can find great bargains online and Free Shipping and all of those incentives out there. Yo ahave the biggest mall in the land. Does it take bigger bite out of your foot traffic necessarily . Actually, no it doesnt because we really work hard to create an experience so that they are coming here for the fun and the thrill of shopping. In fact, this year we are even making it snow indoors. I hope you can see it behind me. People love that. It is a real experience, an activity, something they can do together. Thats our insulated competitive advantages. Maureen, im just curious in this era of online innovation, as much in who your tenants are is who the shoppers are. Can you give us a sense of recent store openings you have had and how you expect to fill one of the biggest pieces of property in america Going Forward . Our most exciting opening was l. L. Bean, Wonderful Company that put their first store in the minnesota area at mall of america. And they are lined up there. And then, of course, we have calvin klein performance because that athletic wear category is so big. Microsoft, apple, best buy are all doing extremely well. We are seeing more people buying for themselves this year, not just for others. Not sure what that means. It certainly doesnt hurt. Thank you so much. Appreciate it. At the mall of america. We did the show several years ago there. That is the first mall that became a destination for entertainment. They have the ferris wheel and food court. It is a huge piece of land. If you have never seen it, the mall itself is the attraction. It is a destination there. Coming up, what do lady gaga, beyonce and sophia vigara have in common . They are all celebrities who wear ruthy davis shoes. We will talk about outlook of luxury shoe sales this season. trader vo i search. I research. I dig. And dig some more. Because, for me, the challenge of the search. Is almost as exciting as the thrill of the find. announcer at scottrade, we share your passion for trading. Thats why we rebuilt scottrade elite from the ground up including a proprietary momentum indicator that makes researching sectors and Industries Even easier. Because at scottrade, our passion is to power yours. Thank you. Ordering chinese food is a very predictable experience. I order b14. I get b14. No surprises. Buying business internet, on the other hand, can be a roller coaster White Knuckle thrill ride. Youre promised one speed. But do you consistently get it . You do with comcast business. And often even more. Its reliable. Just like kung pao fish. Thank you, ping. Reliably fast internet starts at 89. 95 a month. Comcast business. Built for business. Welcome back. We want to show you live shots of the macys Flagship Store in herald square, 34th street in new york. As we understand whats happening here is that protesters related to Michael Brown and the ferguson shooting were trying to disrupt black friday. The store not eager for them to enter and there is a bit of a standoff happening here. Again, this live shot of herald square, 34th street in new york city. Apparently a protestrelated to the ferguson shooting of Michael Brown. That is the spot where you see the macys day parade where they do all of the entertaining. That shot right there is where the entertaining goes on. That is where the protezers are trying to enter the front door of the macys. If we hear or learn anything further we will bring it to you. We are here in the stamford town center. It is a luxury piece of the market that has been going gangbusters. Names like beyonce, lady gaga to name a few. Lets talk to ruthy herself. Luxury retail shoe designer joins us here. And a piece on how much wall streeters are expected to spend on average today alone. That would be 900. Would that buy a pair of your shoes . It would definitely buy a pair of shoes. Possibly just one pair but at least we get the one pair. When it is celebrities coming for your foot wear do they get it for free . How much are they used to driving demand . How much do they buy shoes in this country and around the world . They are a global brand so they are buying us all over the world. The celebrities, they are stylists. They give them the shoes and quite often we let them use the shoes. A lot of times they give them back. They also on their own purchase my shoes. It is a combination of the both. You know, the girls know what they like, the celebrities so they have to love the shoe to want to wear it. Even if it is free they are not going to wear it. Do you see a bump in sales at the Holiday Season . Is yours a seasonal product . Yes, it is. Obviously when it comes to gift giving time a pair of shoes is a wonderful gift so we are very excited. Sales are going very well right now. It definitely gives us a bump but luckily shoes, people need shoes all year round. I dont know if they need those kind. Maybe for your birthday. Thank you. Not the easiest to walk in but certainly will get the looks. Ruthie davis. They are the ultrahigh heel. If you wear those on the floor of the New York Stock Exchange i would never be in the shot. Disney has a early holiday present for star wars fans. The first trailer of the upcoming movie, the star wars franchised just unveiled. We will show you the whole thing when we come right back. Stay tuned. Take a closer look at your fidelity green line and youll see just how much it has to offer, especially if youre thinking of moving an old 401 k to a fidelity ira. It gives you a wide range of investment options. And the free help you need to make sure your investments fit your goals and what youre really investing for. Tap into the full power of your fidelity green line. Call today and well make it easy to move that old 401 k to a fidelity rollover ira. Welcome back. Shoppers around the nation are out in force today. Get this, a different kind of force is being unleashed today. Disney unveiling the very first trailer for the new star wars film. It wont hit theaters until next year at this time. Here is the whole trailer. Enjoy. There has been an awakening. Have you felt it . The dark side. And the light. You should have seen the look on this young mans face when i said the trailer was coming. I think it will be pretty epic. You are excited about this. Yeah. More excited than shopping on black friday . I dont blame you on that one. Thank you for coming out today. Come on, what are we going to take to get you to be positive about the shopping season this year . It will take i dont know spending. Well, lower gasoline prices will help, right . I dont think that is coming for a while, though. There is a lag time. For sure they are going to help. Ultimately it is a sense of optimism. Whether or not you get into a place where people feel tomorrow is a better day. Thank you for being with us. Thank you for being with us. man tonight, hopeful entrepreneurs who believe they have the next big business idea will enter the shark tank seeking the financial backing to make their dreams come true. Were gonna make you 24 million in revenue. Ill bet half my company on it. Wow, what blind confidence. I love that. Not blind. In the tank, the sharks are ready to invest using their own money, but only for the right person with the right idea. I have no doubt in my mind you guys have a home run here. Barbara, you have absolutely no business here. This guy will eat you for breakfast at every opportunity. Believe me. Hes an animal. We just knocked us our equity down because of the bank of bozo barbara . But first, the entrepreneurs must convince a shark to invest the full amount theyre asking for or theyll walk away with nothing. Wait a minute