On this black friday, were still here at post nine. Im Carl Quintanilla with melissa lee. Dow up 15 points a holidayshortened session today. Markets are going to close in an hours time and eventually we will get to kelly evans and bill evans for closing bell. All eyes on retailers as it is black friday. We saw strength in macys in particular and some curious weakness in shares of target which have been the real standout laggard, at least in the retail space. A lot going on, whether its retail, black friday or oil, by the way, which got close to 59 earlier and right now 58. 83. Busy week next week packed with powells confirmation, yellen testimony and then that opec meeting and even more reports today about a potential framework between at least russia and opec. Right, and you were mentioning some of the alltime highs in todays session, even though its quiet. The alltime highs are in fact notable. Amazon really being helped, of course, by black fridays strength here. Facebook is also an outperformer here as well as a new high up 1 in todays session it really gets to as we head into year end and head into this period of seasonality. Will Technology Continue to be the stalwart performers. Theres a week to go in the month of november. Dow and s p on track for the eighth consecutive month up. We had one month that didnt quite get not green, and that sort of ruined that streak as for december, guys, the average gain for the markets this decade in december is about 1. 4 , five years have been up and two years down, 2014 and 2015 so seasonally things have been working question eel see if that continues given the mood out of black friday well see. Well see if m a picks up had the report on reuters saying broadcom is interested in raising the offer. Weve seen broadcom be an outperformer in todays session. I think were back lets get over to kell evans and Bill Griffith here on the floor of the New York Stock Exchange my momma told me you better shop around hi, everybody and welcome to closing bell. That was really a black friday for us. And what better way to start black friday than with going to black. Thats how that worked for us. Thanks, carl and Melissa Kelly evans here at the New York Stock Exchange. And im Bill Griffith yes, this is already the last hour of trading on this holidayshortened day. Record highs for the s p and nasdaq today the dow is flirting with the record high. Weve got a debate on whether those record breaking days will continue into year end or if its time to take some money off the table before new years eve. And an Online Retail rush already. Many brick and Mortar Stores are seeing a pretty big turnout today. Well tell you who many so of the winners and lose remembers and take you out to a luxury mall out in michigan and see what the read is on that consumer. Even apple has its black friday deal. Well tell you what it is and whether it can be an iphone x christmas which tim cook is hoping for we begin with the black friday boom as Retail Stocks rally on deep discounts attracting shoppers to the mall today macys ceo telling us cnbc that the company is in good shape this Holiday Season. Were blessed right now with cold weather, so in the northern part of the country and certainly here in the northeast, the traffic in our stores is actually slightly better than last year. Who else but to Courtney Reagan we go for more on the black friday sales how is it looking, security . Hi, bill. You know, its my favorite date of the whole year. Actually macys is on track to sell a million coats, sweaters and fleeces, but the most dedicated shoppers hit the stores last night. Those were for the big door buster deals that happened hat the big box players. They go home and they rest and they come back out in the morning when the stores open for the first time and now youve got a lot of leisure shoppers here, but ill tell you the traffic is definitely picking up at this mall in woodbridge, new jersey the mall of america was closed on thanksgiving day again this year eddie rumor from key bank thinks that the traffic might be a little bit on the light side now, if im jumpinging by the shopping bags im seeing at this mall, i would say that l brands pink is the most Popular Store actually fbr Susan Anderson is seeing the same thing in virginia, along with popularity at American Eagle and lululemon. Now adobe just out with new online Sales Numbers thanksgiving day sales up more than 18 boston over last year. That same cadence, 18 plus growth again, on this black friday and thats only until 10 00 a. M. So we have many, many more hours to go and because of the shift online its a little bit harder to tell whats going on. You cant really tell the full picture here just by look at the bags, but a lot of the shoppers that we spoke to are sticking with the stores. Im going to look at websites but i think ill get most of my shopping done in stores. Sales are bert and nice to see whats on sale. Its more fun to be there in person and buy everything and see it and try it on. I like to see what im getting and see if it fits me properly rather than getting it online so catch point is helping us monitor website performance. Lowes is actually having some trouble. Its been this way since about 9 00 a. M the company issuing a statement to us saying they are working on it they have a lot of traffic because of black friday, but they will work on it diligently, and h m actually had an outage on its wednesday identity for about an hour from 5 30 to 6 30 p. M. And then again this morning at 4 30 a. M. And it seems to have been fixed. Bill and kelly, back over to you. You know they are screaming in the back office courtney, thanks very much. Like they are in other places, too. Courtney reagan for us. Big box retailer target fell last week after its guidance suggested the Holiday Quarter may not be as strong as the holiday hoped. Morgan brennan joined us from one of the busiest locations on how they are fathering today morgan. Hey, kelly, thats right. So since the store reopened here in jersey city this morning at 6 00 a. M. , ill tell you, its been a pretty steady kind of moderate stream of foot traffic here it kind of feels like a busy weekend today. Though in the last hour or two its really kind of picked up. Now, a lot of the folks weve spoken to here say that they have come in store to snag some of those deals that maybe necessarily arent available for them shopping from their couch so particularly for some of the coveted hightech products like apple devices and some of the most deeply discounted tvs and that being said, target is offering more deals online this year to better compete with other big box retailers like walmart, and it says that that is actually bringing shoppers into the store. We actually saw three times the amount of orders that were placed online to pick up in stores that we saw all day last year in thanksgiving, so real exciting to see that so a lot is hinging on this Holiday Season for target. Shares of the stock did tumble last week on cautious Current Quarter guidance which really kind of disappointed wall street investors. Our stock is now down about 20 so far this year, but target also says that about 80 of online fulfill cement happening through its brick and mortar locations. Stores like this one, and analysts are calling that really a major logistical shift, and one of the biggest trends to watch this Holiday Season, so with those instore pickup metrix out, that really is a part of that fulfillment picture, and it makes it all the more noteworthy on a day like today. Back over to you. All right, morgan thank you. Happy shopping see you later. So reports out already that Online Shoppers spent around 1. 5 billion yesterday, online, and they have already spent 640 million so far today we need one of those tote boards back here. I agree. Right. And we talked about that the other day, so if consumers are shopping mostly online, then does black friday still matter brick and mortarwise . Lets bring in simeon segal, an analyst and Brian Anderson with oppenheimer and liz dunn founder and ceo of proforma. Simeon, black friday, i was going to ask you the other way i wonder if cyber monday matters or if people are coming back to black friday, online, in stores or what have you if its still the big day. Is it still the big day . I think every day becomes a big day and thats what the headlines are, and they are very much a functionof this channel is it online, in stores, amazon, somewhere else, so theres a lot of verses that are going on and a lot of battles between both retailers with themselves and with other companies i think right now, listen, a lot of this is a traditional and a lot section appearance and if youre willing to brave the store on black friday its more of a fun shop than a functional shop thats not going to change, so what we saw with courtney, everyone was smiling theres more people smiling in stores and fewer people shopping. And, list, you think black friday is starting to see a little bit of a resurgence here, why . I do think black friday is a little bit theres a little bit more excitement around it this year. It seems like thats driven by younger consumers who are looking at this as a bit of an event. Get out into the stores and kind of experience shopping i do think that its going to be a really condensed opportunity for brick and mortar retailers to capitalize on this traffic. I dont think well see sustained traffic throughout the Holiday Season but i do think its a very important time, and to your earlier point i dont think cyber monday is as important as it once was because were constantly connected we can shop from anywhere. I can walk out of here and buy something two minutes after i get off screen so i dont need to wait until that moment when im in front of my computer on monday. Brian, it feels like the distinction between online and in store is not so great you know, theres a lot of people both to the initiatives we were talking about earlier, but you dont think black friday is all that important anymore, why . Well, look, i totally agree and agree with my colleagues i think black fridays shift, maybe were seeing this year a bit of a novelty with the younger consumer which is exciting, and even if you look at how the retailers go to market, weve been talking about black friday promotions for the last two weeks which to mesa big, big positive because going back historically a lot of times retailers ran into a lot of problems as the promotions were so targeted to one day now they are spreading those out over multiple ways, if not multiple weeks that significantly limits the margin risk in these in these promotions so i think thats a positive, and i agree, too, on the idea online. Cyber monday was popular because thats when people went back to their offices and had a computer that they could shop online. Now we can shop online any time so i think thats diminished in significance as well. Which survey of the three, before we go, how strong do you think this shopping season will be simeon, you first . I think the shopping season will be very strong. Just to add on to brians point. Were talking about black friday and cyber monday becoming black november and december. Important to keep in mind, q4, the entirety of this period is actually diminishing as a percent of the total year. Whether thats because we have prime day over the summer, its stretched out just beyond the holiday period so thats northern to keep in mind it will continue to be strong and shift is happening and spread out throughout the year. Liz, how strong liz, go ahead. I think it will be a strong holiday. The theres lots to buy. The consumer is in great shape and retailers will certainly be battling it out, but inventories are in good shape, and if they can get them into the store to buy tech products, appliances, you know, connected home products, i think that it will be a very strong holiday, both online and offline brian well, im encouraged here i think weve seen a bit of a pickup in Consumer Spending over the last couple of months. You know, some of that has been hurricanerelated, but nonetheless, i think the consumer is getting stronger i think that that sets us well into the holidays. Before coming to the studio here in california, i stopped by a couple of stores, best buy was really crowded so i think thats a good sign, so im optimistic we should have a decent holiday here. All right, folks. Thank you all. Happy black friday. Thank you. Happy black friday. Lets get to our Closing Bell Exchange where all of the major averages are floating with alltime highs larry glazer is with us, steve grasso from Stewart Frankel is in the thick of things at the New York Stock Exchange and Rick Santelli at the cme in chicago steve, were kind of picking up where we left off earlier this week. Thats right, and you have the big round number, bill at 2600 in the s p cash once the large numbers act as a magnet once you get back on that momentum wheel, they are usually good for another 1 to 2 overshoot there. So you can see the market at 26 and 25 or 2650 sooner rather than later, and is it going to be helped by laggards in the retail space, in the energy space and we still see fang performing as well as it has over recent months last year. Layer, i wonder if the outperformer on black friday, you know, is the google which benefits from all the surge and facebook which benefits from instagram and everybody sharing their purchases or excitement or the fact that maybe they are in the malls if they are, and what to you is the strength of the market as we look at the dow 58 right now . Look, as we look out, we may start to see a rotation here out of some of the higher multiple growth names as investors start to focus on tax reform if you get tax reform, you may start to see higher Interest Rates which would create impressions of multiples and today theres great action in the value names and retail names. The only thing being more fun on friday is looking at Retail Stocks on black friday and thats what were doing here again, that theme is driven largely by technical considerations and some Short Covering and the end of the tax law selling as you look into the new year and that will spin into a broader segment of value and theres a lot of opportunities to rotate portfolios out of high multiples into low multiple value names that have been given up for dead at the end of the year. Rick, what have you been watching this year, the continued flattening of the yield curve, the dollar index continues and comfortably in that 92 range right now. What are you watching right now. The latter by far the Foreign Exchange market. Yeah. And it is dollar weakness, bill, but really the proactive weight lift they are is the strength in the euro euros at the highest level since around the 22nd and 23rd of october. The dollar index is at the lowest levels since around the 25th of september for both so basically around nineweek extremes, and the reason i find this so fascinating is its because its been unanswered in the fixed income markets while this week weve seen a big drop in the dollar and euro, the boon, the shots, short end, long end, hasnt moved much, our Interest Rates have only slipped had a minor amount, and all this while the dollar is getting close to 10 down on the year, so i think its significant. You know, i like hearing larry and steve talk about how great this Holiday Shopping is you know, the markets care about the macro. They dont care if it comes on a computer or on the bricks and mortar worried about the big macro numbers and to that end ill be very curious as this shopping season looks better and better to see if it gives the dollar any kick at all. Sure. I mean, sorry to jump in here, but this is all about we have tax policy coming down the pike are they going to get it done next week. We have opec coming down the pike will they extend the cuts, so you have two major issues that are on the macro front for the markets. If those two things get a passing grade, this market continues to have that helium lift to it. All right have to go a late start so we move on thank you all. Have a good weekend. You, foo. Appreciate it meanwhile, apple hitting the airwaves and the internet yesterday with this new commercial for the iphone x. The spot may indicate just how vital this new phone is to apples christmas performance. More on that story coming up. And we want to hear from you. Reach us to us on twitter, facebook or email tell us your thoughts hand well read some of yr outsouthgh since its a friday at the very end of the show well be right back. Retailers everywhere are pushing their big black friday deals today. Even apple is getting in on the action apple is giving customers the chance to receive up to 150 gift card with certain purchases on their website with only 31 days left until christmas is it going to be an iphone x christmas joining us to discuss, ed lee, of course, managing editor at recode and max wulolfe at th phoenix group. Welcome. Im intrigued that apple has this that they even have any promo at all like they need to remind people that they exist. On certain items, if you buy something, well give you a gift card and the biggest item is ibats. If its an iphone its 50 and if its a watch youll get 10 or 20, its the smallest amount clearly ipad is always pushing, one of the weird inbetween devices. Were certainly moving more towards a mobile device world so it stands to reason, but, you know, its its a first indication of here is an item you really want to try to sell more of, but, again, they are not they are not in the habit of doing any kind of real discounts way a lot of other retailers do the way amazon does with its hardware so its still in keeping and a little bit different. Max, how important is it that the iphone i like to call it the x because thats what it looks like, does well this season for apple it will be a huge part because th