Opec meeting, psych cyber monday today. The benchmark yield around 2. 33. Our road map begins with the holiday return of the consumer black friday sales topped 5 billion. Cyber monday expected to set online records. Retailers are in the spotlight. Futures flat ahead of the first full trading day ahead of thanksgiving. And the Koch Brothers making a big bet on magazines, backing a meredith bid to buy time inc. Adob bee analysts expects consumers to spend 6. 6 billion this cyber monday. That would be up more than 16 from a year ago and bigger number than the 5 billion adobe says was spent online on friday. We talked about colder weather, and lean er inconvenienventorie reports that in store traffic was down maybe a percent, maybe a little more, but not dramatically. Thats a good test of exactly how low expectations had been for basically physical scores. They dont look like they will broadly give back the pop they had on friday. So many things working in the background in favor of having a pretty decent Holiday Season well see if it plays out or the market is going to get bored with the story of a couple of weeks. We talked about how they generally underperformed this time of year and the question whether consumers will wait to do further shopping before right before the holiday gets here. Did you go out this weekend no. The wife did a fair amount of shopping on this. Us too. There were very significant sales on a lot of beyond amazon on many of the major retailers we noted 50 off, 40 off at places like the gap. If youve ever given your email address to a retailer, how many did you get this weekend . Suddenly very popular. I think it was shopper track, one of them said the average discount market track 45 , last year was 48. So discounts just a shade more shallow. Only three of eight major retailers had deeper discounts than last year. As we said on friday as well, these stocks are down to the lows in july or august, they base beingally were cut in half across the board, a lot of them or more. Just slowly rebuilding that. I think again its a test of kind of a new world. If amazon will get half of every incremental dollar of online sales is there enough to go around for everybody in the other half hard to say. Good discussion just prior to the top of the show about amazon and whether or not they truly are an inquisitive company and whether food was a special case. Ive said this many times but it bears repeating, the most significant deal was the whole foods deal not because of the size but message it sent it has made everybody in this business broadly speaking retail take notice and rethink their business could amazon move in weve seen so many effects of that, whether its somebody mentioning pharmaceuticals or what it might be i think one of the Key Statistics that people should Pay Attention to, 50 of all searches now where people are looking to buy something begin on amazon. Begin on amazon. They go to platform immediately to simply search for something to buy. Which kind of detracts from the old story of everybody kind of looking at this array of prices and Comparison Shopping and amazon maybe is or isnt the bestprice, youre kind of captive to the platform a lot of people. As far as bezos goes, we knew last week his net worth hit 100 billion. Robert frank with a great stis stick, the increase in his wealth this year, 32 billion, would buy itself make him the 18th richest man in the world. Going to add to it this morning it looks like a little bit. The numbers sort of magnitude the leverage of individuals to what the market is basically doing in terms of re valvaluing these dominant Companies Never seen before. For more on cyber monday, well talk about it later today. Talk to the head of ups and other people but Courtney Reagan islive at Amazon Fulfillment Center in new jersey good morning, courtney. Reporter good morning, carl. Holiday shopping weekend rush, thats not over yet today ecommerce is the star of the show 78 million americans are expected to shop today we know amazon is top of mind for Many Americans all the time. Some 44 of all online sales go to amazon but today capty fi said amazon is the number one searched website followed by target and walmart and best buy on that order. Black friday days ago, best buy was the number one searched website. When it comes to what amazon might have done on black friday, dan ies thinks they captured half of all e commerce sales on black friday what does it take to make records today . For amazon, prime day 2017 was its biggest day yet but that was 30 hours still, it beats cyber monday and black friday 2016. Cyber monday 2016, amazon just telling us days ago 64 million items were ordered on amazons website. So thats the benchmark were looking for for cyber monday now, if you look overall, what are folks searching for across the web . Capty fi says the number one search is the iphone x followed by the xbox one and playstation and hp laptop. 38 billion has already been spent online so far in november, through november 24th according to adobe they dont think shoppers are done yet. They expect another record to be set today in the u. S. , sales are expected to hit 6. 6 billion, that would be a 16. 5 percentage increase year over year for online sales this is just one of amazons 75 u. S. Fulfillment centers, over a million square feet. There are 14 miles of conveyor belts behind me. About 5,000 fulltime employees, thousands more parttime employees and thousands of robots today well have to wait and see how many packages go out today on what could be one of amazons biggest days back to you guys at the stock exchange. Courtney, well come back to you later this morning speaking of amazon, on wednesday, on squawk alley john forte will have an exclusive with andy jassy at 11 00 a. M. Eastern time on wednesday. This just crossing the tape. Barracuda, leading provider of cloud enabled security Data Protection being taken private all cash, 1. 6 billion. All cash. They are very active in this area theyve done Similar Software related deals in the past. Havent seen that much activity from private equity. They play in this part now, not like they did ten years ago at the highest levels in terms of market cap for any number of reasons. But worth noting not a bad premium i guess, i dont know two years ago that stock was way higher. Was it . Two and a half years ago. It seems as if it was kind of hovering at this level for a while. So it was more than 40 stock. We do begin a new week of trading as the s p and nasdaq each posted a record close, surpassing 2600 for the first time and nasdaq coming off the best week since the beginning of september. The 8th positive week in the past nine, keeping an eye on a record run for bitcoin as it marches toward 10,000. I mean, its up 16 from friday. Is that possible well, it went from 9,000 to 9600 in a blink i guess. I dont know it its related or unrelated to the fact that the stock market is doing what its doing. Its hard to know exactly. If this is catching overflow capital. Obviously its this selfcontained speculative story in itself. We always say the market cap, whatever that means for bit coin, the market cap now exceeds disney, which by the way will ring the bell today and ge i dont know how to know that, if youre bitcoin fan saying youre going to displace gold or world currencies, its tiny still. Im going to leave it to you to analyze this these parabolic moves they do typically end in a different move. Usually whats funny is its a currency thats not its less currency for transactions than it is owning a piece of Virtual Real Estate in what could become the next internet or parallel internet not evaluating that claim but thats the story now that its not just about buying stuff with digital currency. As far as markets we understand a little bit better, we went through the news events were going to get this week, probably key among them is this potential vote in the senate six senators now being called on the bubble johnson, corker, murkowski and collins and flake. Well see what degree changes are made to win the vote. Its hard to note how much headline risk there is in the very immediate term for the market if the market still says something is going to trend towards a deal, i dont know if it means no deal this week means that they panic out. Nothing is really restrained this market very much from marching higher. So you would think they want to see it done but i dont know if its still a washington story about how the market operates in december. Timeline gets tougher on getting a deal done certainly for christmas or year end, same thing. One would think. Eamon javers says the president is not focusing on tax reform at the moment, given his tweet about fake news again as well as over the weekend. And holding a contest to see who the winner should be of the fake news trophy he will meet with the vp i think for lunch and members of Senate Finance to press the senate to pass that. By the way, goldman has an interesting note out that looks at the potential exodus of high income residents from cities like new york. 2 to 4 eventually over time and then a 1 to 3 effect on real estate prices. It could be catastrophic, some of the municipal leaders believe. You think about new york where the tax base is 37,000, 38,000 people represent roughly half of the income tax paid, if that 4 comes from that 37,000, which it very well might given they are the highest income earners, youre going to have a Significant Impact people are trying to impress upon the president who has still has some real estate i wouldnt say holdings but interests here that perhaps that would end up in a bad place for somebody like that. Sure. To try to get them to move on coming back on the repeal of the ability to deduct state and local. Yep and 10,000 you know, limit on a deduction for property taxes doesnt mitigate very much. Its the state income tax in places like new york and new jersey and california, illinois, theres i mean a number of other states, some even some red states, a couple of them. Well find out and watch it closely today obviously. When we get back, the end of an era for a legendary magazine, time inc. , david abney will join us as the Holiday Season gets under way. We put the month of november to bed over next few sessions, were back in a moment im here to talk to you about how at t gives you more. And so am i. Like how when you buy the amazing new iphone 8 you get another one on us. See we give you more phones and more spokespeople. Are you guys doing a spokesperson thing right now . Yes. Awesome, can i be in it . Well, its kind of like a twophone deal. So two spokespeople. Got it. K. Thanks. At t its time for more. Its time for more. Buy the amazing iphone 8 at at t and get a second one to gift, on us. Live binge dvrd shows,te sport, while painting your toes. On demand laughs, during long bubble baths. Tv on every screen is awesome. The Xfinity Stream app. All your tv at home. The most on demand, your entire dvr, top networks and live sports on the go. Included with xfinity tv. Xfinity. The future of awesome. Theres a look at bob iger, chairman and ceo of disney theres mickey too a lot going on with disney i dont think mr. Iger will speak with us on camera, not going to take the seat next to you this morning meanwhile in other parts of media involving print, meredith, the publisher of better homes and garden and Family Circle agreed to acquire time inc. It is all cash, 1. 8 billion when you take out debt merediths offer was backed by the private equity arm of the Koch Brothers, charles and david. 650 million convertible preferred that pays them at 8 coup coupon thats not bad a lot has been made of whether they will have any impact at all in terms of the coverage of these magazines. Again, an 8 cash paying coupon is pretty good and financing goes to sort of the story here this is the third time meredith came calling for time. Last spring they came and offering a deal that also included about 20 equity. This time they came with a fully financed offer the koches being a part of it, and banks being part of it as well that really changed their tune and they were much focused on getting it done and getting it done quickly when you speak to people involved, eight days from beginning to end in many ways. They had a deadline to get it done and got it done, announcing it last night. And now the focus for meredith is going to be on those cost savings they are talking about, which seems to have been what attracted them many times to considering this deal in the past they are talking about 400 to 500 million in cost savings or cost synergies over the first two years of owning this that will be a lot time fortune, si, those titles are not making any money they may be losing money people is the one thing that makes a lot of money and thats going to be kept but dz not clear if Everything Else will be kept if you really focused on those cost synergy numbers, you may need to sell or wean or just get rid of some of these other names, well see what the plan is on the call this morning, guys, all they would really say is they are going to evaluate the whole portfolio and make decisions Going Forward but premature to talk about any decisions sort of broadly speaking about asset sales at this point time has been trying to become a digital company. It has not proved to be easy the stock had been almost 10 bucks a share three or four weeks ago, pretty good return. It is. If you actually believe somebody can get something done and get the deal financed, but to your point about becoming digital, they are already reducing publication schedules of a lot of these magazines and wonder if the cost incertificsy imply the print goes away. Quts Sports Illustrated is going to go circulation on better homes and gardens, 7 million those are still browsing vehicles but if you talk about people and si and time, you know, its more expense than it is reward. And print continues to decline at the rate frankly that is even more rapid than i think had been anticipated. Sure. You can understand certainly why this board would have chosen to sell when the fully financed offer finally showed up for meredith and they have but a iconic new york company sure. Going to iowa, right. Going to iowa. Well get art cashins take on the markets and later and exclusive with ken griffin of citadel. Youll never guess whos ringing the opening bell by looking at the podium this morning. Were back in a minute win an uncertain world . K predictable income pgim sees alpha in real assets. Like agriculture to feed the world. And energy to fuel its growth. Real estate such as ecommerce warehouses. And private debt to finance transportation and infrastructure. Building blocks of strategies to pursue consistent returns over time from over 120 billion dollars in real assets. Partner with pgim. The Global Investment management businesses of prudential. Lets bring in art cashin director of floor operations with ubs i see the Holiday Season has officially started from your tie. Yes, we go from now until christmas sometimes, all the way up to boxing day depending on how sturdy these things remain but the market is in not quite celebratory mood this morning. I think they were thinking ever more could be sol dags and a slight degree of caution congress is back so well see if they decide to somebody set up and shoot themselves in the front. Things are a little quieter in europe i said on this Program Early last week, i thought merkel had pulled off a successful bluff and that looks like it may be working out here. Little concern about resumption of weakness in china they had a pretty good selloff while we were off on thanksgiving day Global Markets a little bit mixed. Bitcoin has gone parabolic that usually does not end well i said that to mike. I think were in the fear of missing out phase now. I think initially there was some concern, im told and take this with a huge grain of salt, that the movement is even beginning to worry some people in the federal reserve, you know, can it be disruptive to currency markets. Its not quite that big yet but certainly its capitalization is moving around. I want to find out, might get a free drink there. If they start to trade futures on bitcoin, that magnetized the effective size of the market. Yeah, i think it was a promise of credibility and that allowed people to step in. The bulls have had a good run. You see consolidation may be in order at these levels. What might that mean more like a couple of days or weeks moving sideways, the dow looks most susceptible to that were above 2600 in the s p but that doesnt mean were totally free of it so well wait and see. Viewer should compare whats going on and for example the russell, to whats going on in the s p. If the russell seems to be stronger then that tells you the market is betting on a tax bill passing with a low corporate rate. On that note we did get the president just tweeting the tax cut bill is coming along very well, great support. So you know, art, wanted to keep you upto date. Thanks, art opening bell a few moments away my name is Cynthia Haynes and i am a senior Public Safety specialist for pg e. My job is to help educate our First Responders on how to deal with natural gas and electric emergencies. Everyday when we go to work we want everyone to work safely and come home safely. I live right here in auburn, i absolutely love this community. Once i moved here i didnt want to live anywhere else. I love that people in this community are willing to come together to make a difference for other peoples lives. Together, were building a better california. [ click ] [ keyboard clacking ] [ clacking continues ] good questions lead to good answers. Our advisors can help you find both. Talk to one today and see why were bullish on the future. Yours. Talk to one today and see why were bullish on the future. I thwell wait. What did you meetthink about her . Its definitely a new idea, but theres no business track record. Well, have you seen her work . No. Is it good . Good . At cognizant, were helping todays leading banks make better lending decisions with new sources of data so, multiply that by her followers, speaking engagements, work experience. Credit history. That more accurately ass