Telling cnbc we may not need the type of tax cuts being proposed. We have those details coming up. And a major deal in the media space. Maybe youve heard about it. It brings together bbetter home gardens and people magazines, Meredith Buying Time Inc for nearly 2 billion. Will this pave the way for more deals especially in the media sector where theyve been trying to get them done we have that coming up in a little bit. First, our top story today, the cyber monday surge amazon shares hitting yet another alltime high today. Courtney reagan joins us from an Amazon Fulfillment Center in robbinsville, new jersey, with the very are you packaging anything and sending it off as well reporter no, no, im not allowed to touch anything, so i will not be touching anyones packages dont you worry about it amazons prime day, bill, actually still Reigns Supreme at least as far as we know for its biggest day on record. Last year on cyber monday, amazon shipped 64 million items worldwide. Thats what was placed thats the number you want to keep your eye on for this year, if it, indeed, will be a recordbreaking day. We dont know quite yet. If you take a look at be bestsellers by category on amaz amazons bestseller page, the game is speak out. Electronics, the echo dot. Video games, its a one year Playstation Plus membership. For books its an electric pot cookbook clothing and shoes, its the mens asics shoe emarketer says on a typical day amazon is slylikely responsibler 44 of all the ecommerce sales and dan of gbh insight thinks on black friday that could have been as high as 50 . You were talking there about amazons alltime high definitely hitting an alltime high today believe it or not, thats rare for cyber mobd fnday for amazon. Last five years, amazon has been negative every time except for once on cyber monday 2012. Interesting move there today adobe tells us by 10 00 a. M. , 840 million had been spent online, up 17 remember, the number were looking for for it to be a total record day would be 6. 6 billion, which is the forecast adobe is looking for for the day. Now, of course, amazon isnt necessarily the only game in town you know its the biggest. Ebay does expect this hour to be its peak hour of the day theyre saying the apple macbook air is one of the top sellers selling one every five seconds most websites are performing pretty well today. We didnt necessarily see that outperformance on black friday. We talked about some of those outages. Jay crew may be the xception that appears only to be regally. Some users in boston and new york are having a hard time consistently getting onto the j. Crew website, however, it appears on the west coast everything looks okay for that retailer back over to you guys. The speakout game, bill, brings friends and family together for a laugh out loud fun as players try to say different phases while wearing a mouthpiece that wont let them shut their mouth in case you were wondering. Sounds like fun. I was wondering for that to be the topselling game, for mens asics shoes courtney, how much of this is actually gift giving and how much of it is people taking advantage of all these deals to shop for themselves . Selfgifting. Reporter thats a good point. Its impossible to know. On black friday, you see the folks that get out very early for big deals on maybe the electronic for their children and after that its leisure shopping, once theyve gotten the deals, know they secured it, from then on its poking around. Shoes is probably a harder gift to buy for someone else. That one i think is probably a selfgift. I think so, too yeah. Dont get me that. Dont do that. Thank you, courtney. See you later. Reporter thanks, guys. Courtney reagan. How will cyber monday sales stack up to black friday website retailmenot works with retailers to offer consumers coupons and promotions for instoi instore and Online Shopping plan to spend 743 total through black friday and cyber monday. Its up 47 from from last year . Lets bring in the ceo of retailmenot, Connor Cunningham good to see you, thanks for joining us today. Good afternoon. Happy cyber monday and to you. Youre a coupon aggregator if im looking for deals, i go to your site you show me the retailers that have the best deals going for various products at any given moment, is that the idea thats right. Thats right we work with the top retailers from across the u. S. And 743 per capita per shopper, black friday over to cyber monday thats a huge gain compared to the past why this year, necessarily, do you think . You know, it does feel like a lot. I will say, weve done a study looking at black friday deals, and it looked to us that 50 of the coupons on our site are better than last year. So it feels like to us that consumers are resonating with that, and spending more money. Its still too early to tell, but early signs are great. The foot traffic to stores, itse itselves, looks a little weak seems like the overall spending is going to be up certainly online cotter, i was surprised some of the discounts you found are extremely deep can you tell us what some of the deep discounts are and how much that is driving the shopper tin that were seeing . Sewer some o sure some of the top retailers are macys, best buy, bed bath beyond, kohls and amazon, of course travel is new this year. We havent always seen great travel deals on black friday through cyber monday youre seeing almost 50 off on average for the best travel deals which is great hotels. Com has a mystery coupon, theyre going up to 99 off if you can believe it so sounds exciting lets go somewhere you know, you know, we used to say, boy, all that discounting going on now its any given time youll find the discounts is that a good thing or bad thing for the companies, themselves 123. Its hard to say. Companies do whats best for them most Companies Think in terms of share of wallet. Because they want to protect their share of wallet or share of consumer spend, theyre having to discount earlier to prevent that spend from going somewhere else consumers also, weve seen, are willing to search harder or the discountoriented consumer is willing to search harder than perhaps they have in the past. They know they want to buy a pair of shoes, they have a specific brand in mind and theyre willing to shop around until afind a good deal. Cotter, this year we also know u. P. S. Is putting surcharges on items shipped, i think this week or certainly starting blang friday. Also the week before christmas sthat is that affecting offers were seeing and timeliness with which people can expect their such thats a good question. The timeliness is to be determined so far, companies have stepped up and offered better deals i think to compensate a bit for that like i said, 50 of the deals were seeing this year are better than they were last year which is amazing weve never seen that in the eight years ive been at retailmenot. Interesting cotter, thanks. Thank you. Well let you get back to work find those deals cotter cunningham, ceo of retailmenot. So the markets early on this morning, pretty good rallies, sent all the major averages into record territory that has frayed a bit. That rally joining our closing bell exchange, steve grasso would call it, the human exchange, chris codero from regent atlantic, mr. Grasso from Stuart Frankel at post 9 along with bob pisani and Rick Santelli also joining the conversation from the cme in chicago what was it last week or two weeks ago the Early Morning would be all a big selloff then wed come back again today was the opposite what was going on here i think people were still digesting. A big week tax policy thats probably coming to a head on thursday you have those two bills that have to be reconciled between the senate bill and the house bill then have cyber monday, today. But december, lets not forget, we have everything that you guys talk about on a daily basis, the fomc, the budget battles, we have a whole bunch of stuff thats coming down the pike. This week we have the opec meeting thats going to affect oil. Right. So you look at energy thats lagged. Retail, thats lagged. Cyber monday, how does that affect the laggards, do they rally into year end . Or do they buy the tech plays . Seems like they want to stick with the tech plays. Well, they always at least thus far. Amazon, another alltime high today. The earnings season is basically over now it was a pretty good one, right . How is that affecting what people think about market valuations its funny, over the weekend there was this whole flury, this cant keep going on again, weve hit new highs again, this has got to end i hear, for two years weve been hearing it, this cant keep going on like this what kills rallies we knows what kills these rallies, number one, we could have a recession, could kill the Earnings Growth you were just talking about. Thats not on the horizon. Number two, suddenly these buybacks could stop if they got too expense ive to buy it back thats not happening, not yet. Finally the fed is the most important factor, if theyre too aggressive, thats certainly sli goi going to kill the rally. None of these three factors are present right now. If you look at things like the advanced decline line, historic high, and normally that will start moving down before anything else starts moving down thats the best as the stocks thats the best leading indicator ive seen. That turns down before everything else. Its at a historic high. The small caps, we were complaining two weeks ago, was underperforming. Right. Its. Back up to a high. The s p. The leading sector for the year, tech is at a new high. Its a perfect scenario. I dont have any idea whether were going do be up in 2018 the factors that will kill the rally right now are not present. Thats my point. Chris, last time you were on, we talked about this rally, you called it a Corporate America rally. How much juice do you think is left in this lemon well, i think theres some left because corporate profits are still strong and and exactly right, the bull markets dont die of old age so theres got to be some catalyst that kills this market. What could throw a hiccup, i see, you know, we need to have humility to think are we going to get a tax bill or not i think its about 50 50 if on the 50 chance it doesnt happen, where i see the biggest risk are in small cap stocks i think small cap stocks are very richly valued and would benefit the most from a tax reform so by taking that away, i think that could have a big risk and a ripple of starting to unwind and it would start with the small caps sure. Rick, at the same time, we were talking on friday about the weakness in the u. S. Dollar and then i noticed today the wall street journal was talking about how it has a big place in the Global Financial system and should it means it rallies from here on out. The themes for this year, the bond yields and long term didnt go up and the dollar didnt either, where does that leave us reporter you have to pick what notes you ur talking about, two year note rates, three year note rates, five year note rates have gone up the rest of the curve, youre correct, hasnt. Were a dozen basis points down on where we settled the ten year at 244 all things being equal, the journal is right, we have the reserve currency but it certainly isnt acting like a reserve bottle of wine where its Getting Better with age today it did finally turn around and the numbers are small. Were still hovering in the neighborhood close to the lowest levels weve had since the third week in september. But sooner or later, one would think our currency is going to get more responsive because our central bank seems to be on the trap to continue to snug things up a bit and continue to buy less with regard to its balance sleet. Definitely at odds with all the other central banks. I think that will be a 2018 dynamic along with the notion that were issuing a lot of shortterm rates part of that is the debt issues. The debt ceiling issues. But until we get a better menu or a better salad bar, i think that the main entree of stocks is not going to change any time soon just remember, though, rick, when you allow an open bottle of wine to age too long, it turns to vinegar im just maybe thats just me one thing, to chris point, the russell 2000, did go down in the month, the last month when the prospects for tax reform looked iffy and rose last week as the prospects went up so i agree with his point. To your point, though, when you mapped out the minefields that could take place, there are notes going around that corporate repurchases are coming back off because they think it is too expensive now obviously we know the fomc likely 95 , 96 chance of raising. Not listening to grasso. Not listening they should skip december. You have two things that are legitimate ledwinheadwinds. The march is still higher. If we get the little blip, if tax policy to chris point is 50 50, it will shrug it off again and thats the market we live there until something more substantive hurts earnings. Two rate hikes next year are not the same as five rate hikes. Thats what we dont know. Sure. Thats the big xfactor buybacks are a little slower but not dramatically slower. Again, thats a rate thing if the rates go up, thats going to be a problem. You and i are in agreement. A problem if the rates go up we dont know what we dont moe. Thank you, all have a good rest of the day, cyber monday 37. Chris, good to see you everybody. Everybody was in record territory as we said in the open now nobody is. The dow is still positive. Everybody else negative here. Up next, its the magazine merger making front page headlines. Meredith krorp agrcorp agreeingy time inc whether the betting on the magazine industry is wise and which companies could be bought out next. A little bit later bitcoin yet another new high today rapidly approaching that 10,000 are we going to have a 10,000 hat bitcoin . What do you think . I hope not. Ahead, hear why Billionaire Hedge Fund manager ken griffin thinks bitcoin mania is going to end in tears. We want to hear from you, reach out to the show and share your thoughts with us on twitter, facebook or en erveov email youre watching cnbc, first in business worldwide not rebalancing your portfolio. Focused on what you love, not how your money will last through retirement. We make it easier to plan for retirement with day one target date funds from prudential. Look forward to your 401k plan. Wow record time. S. At cognizant, were helping todays leading Life Sciences companies go beyond developing prescriptions to offering subscriptions with personalized, realtime advice for lifelong, healthy living. Honey . You almost done . Nope. Get ready, because were helping leading companies see it and see it throughwith digital. Bitcoin has rocketed to yet another new high surging closer to the 10,000 mark one reason thats being cited for this surge is the attention drawn to it by financial social media this last weekend, as wall street analysts took to twitter to discuss what . The cryptocurrency. That doesnt make any sense. What do you mean . Surge of financial analysts talking about bitcoin on twitter pushed it higher i dont know. Bitcoins price has been boosted in recent months by the announcement the cme group would start offering bitcoin features. And which could lead to etfs. Square got that downgrade today with yes. You can trade bitcoin on their platform. I think were going to talk to that analyst next who ahour. Downgrade the the stock result bitcoin hanging on to a gain. Theres a book called extraordinary popular delusions in the madness of crowds. One of the stories, there is tulip mania, take a look at that. I happened to order that not long ago online, came like it had been printed out on a printer. Youd think the book would be in perfect bound condition. No, no, no its youll see what im talking about, everybody, if you order it yourselves or read it on the kindle. Shares of Meredith Corp and time are soaring, news that meredith is buying time for nearly 2 billion. Meredith is up more, 10 the deal partly financed by the billionaire Koch Brothers and brings together family circle, Better Homes Gardens with time, of course, people and Sports Illustrated. Will the deal breathe new life into the magazine business . Joining us, daniel, managing director and internet and media analyst at benchmark again janine, media report i know meredith had tried a couple times before to buy time and were rebuffed and didnt work out. What turned the tide this time you know, i think the industry is in a dire place right now that mergers are necessary and it showed because meredith was willing to take all of time incs magazines. In the past, the deals didnt work out is because they didnt want to take newsfocused magazines. Daniel, what do you think is behind that . Because the Koch Brothers may want to dabble in the dmuz nenea longer term . Management said explicitly part of the reason they took the koch bid, koch agreed not to be involved in their affairs. Right. I think this is a deal that was several years in the making and, frankly, much more of a necessity for time i think than meredith. Meredith had been growing their business nicely. Time was obviously struggling since they did their sales revamp a few years ago there are a ton of synergies in this deal, makes way too much sense for both parties involved. I think it creates a lot of value for shareholders. Dan, what do you think of the markets response with meredith . Typically a company thats doing the buying will go down. Theyre up more than time is right now. What do you make of that when you do a deal with 400 million to ynergies youre goin rewarded theres value accretion in doing the deal in and of itself. I think the big question or battleground right now, whats the value of the publishing asset . People are trying to do that math and figure out where the cash flow is going to come out after synergies over the next two years and some people are thinking theres a lot of upside especially if you factor in revenue synergies so the stock is reacting well of course, there are others that are putting a much lower multiple given what janine talked about with the ad issues ongoing right now. I think the stock should be worth less so i mean, janine, we do have some challenges for a lot of these brands, traditionally. I noticed in the press release they really played up how many digital eyeballs theyll have now. How important is that going to be for this deal look what time inc has done in the last year, pushing into digital video with Sports Illustrated streaming digital property and