A mix of snow, sleet and flooding hitting a large swath of the northwest and now the great lakes to the Southern Plains could be blanketed by the storm. More in just a bit. A shortened trading week on wall street today. The closing bell is set to ring at 1 00 eastern time today. Dow futures up by 30 points. S p futures up by just over 4 points and the nasdaq is up by 20. Beyond retail theres other stories this morning. Russia looking to retaliate against turkey. Moscow plans to cut economic ties and cancel major investment projects. More from our colleague in russia in about 20 minutes. The e. Coli outbreak has been traced to a tainted celery and onion mix used in it. And a lawsuit raising all kinds of questions about media mogul sumner redstone. Hes described as mentally vacant and prone to uncontrollable crying spells. The woman was chose on the make Health Care Decisions for him if he was not able to until the billionaire removed her in a new agreement in october. Member through a Holding Company red stone controls about 80 of the voting shares in cbs and viacom. It has implications for shareholders. It does. But some of the stuff thats been put in this lawsuit, you have to question this womans motives. I have no doubt about her motives. At the same time, he hasnt been on the Conference Calls the last couple of times and normally he is. Thats raised questions about whats out there. Hes 92. Reading through what this woman is claiming in this lawsuit makes your skin crawl a little bit. Hes 92. He is. 90 is the new 50. If that makes you feel better. 50 is like the new 22. Now to Global Markets, a big sell off in china overnight leaving all of it lower sri, sri joins us now from singapore. Thank you. That was perfect, steve. Lets take a look at these markets because it was the biggest one day percentage loss for the shanghai composite in almost three months. So since the death of the capitulation in late august there was several factors driving on sentiment today. You mentioned the brokerages. They were under heavy selling pressure because the regulators are investigating some of the big ones for suspected security infringements. Now the other factor here is relating to the leverage. Its still in the system. A lot of it has been shaking out but the regulators are trying to shake out more from the system so theyre urging the brokerages to stop financing transactions using otc swat contracts. So again, theyre trying to shake out the leverage from the system and remember that excess leverage has given rise to a lot of volatility. Were going to see more ipo activity next week. So thats going to deprive a lot of liquidity away from what you see behind me. The other factor is that the macro environment continues to look sluggish. Theyre down in october for the fifth straight month. So does this picture continue next week is the big question. Do you remember, we got data. We got activity numbers. Both the official and from the private forecasters so that will be a very important test of market confidence. The imf is formally expected to introduce and elude the yuan into their basket of currencies. One thing i can tell you is that the yuan will remain under depreciation pressure because of the macroeconomic environment. Back to you. Thank you. Well talk more about the yuan being added to the stra teejing drawing rights. Well hear more about that later this morning. But lets take a look at the breerd markets this morning. U. S. Equity futures are higher this morning. The early trading in european markets, it looks like theres fractional advancements. The biggest gains coming from italy. The ftse is the one decliner here but its only down by about. 1 . Check out oil prices this morning. Wednesday youre looking at wti above 43. This morning giving back more than 2. 3 . All the way down the dollar to 42. 3 for wti. Also take a look at whats been happening in the bond market. At this point, youll see that the yield down once again to 2. 211 . So much for that. Right. Well see what happen with this fed decision and whats going on. We have continued to see the longer term rates go down even with the first rate hike in over seven years. Take a look at the currency markets this morning. Dollar is up against the euro. Below 106 again at 105. 88. Traveling to europe any time soon . No. Dollar is down against the yen at 12259 and gold prices look down just about 6. To 1,064. 30 an ounce. Big theme of the morning. What else . On a black friday, its retail. Morgan joins us from a target in jersey city new jersey, you havent been there all night have you morgan . I have not been here since they opened because they opened last night at 6 00 p. M. And they have been open straight through with no plans to close until 11 00 p. M. Tonight. There are about 1800 target stores throughout the u. S. All of them with the exception of those located in four blue law states pulled all nighters. So this is in keeping with the last few years, the number of retailers kicking it off on thanksgiving and staying open straight through. Walmart, kohls and yc penny all open. Its quite now. More employees than customers and though the store did have a line wrapped around the building last night to be fair and a visit from the ceo as well. Now electronics are among the best selling items. At least at this location. You have the 5 inch led tv on sale for 299 already out of stock at this store. We have also seen some consumers stocking up on xbox ones. They are only in target stores and offered for 50 off with a 60 gift card. So deals atwal mart include a 200 ipadmini 2 and the playstation 4 bundle. Well see how traffic picks up throughout the morning especially since retailers including target have been rolling outdoor buster deals since earlier this week and more aggressively going after lon line shortstops. Target offering free shippings on everything throughout the holiday system. Did you say a 50 inch led for less than 300 dplrs. I did. 249 for a 55 inch led tv. Wow. Best deal in my opinion. Did you get one . I did not because theyre all sold out. But ill not going to lie. Im probably going to walk around and check out the deals myself later today. Thanks morgan. Hoping that strong holiday sales will provide a much needed jolt. The woman that knows everything about retail. Thank you for being here. Thank you for having me. How is it going to be . A descent season but category specific. Its not going to be the season we had in years past. Youll probably get an increase of around 3 to 4 . What we do is we Look Category specific bottoms up. We found that over the last few years if you look bottoms up it tells the whole story. Sporting goods, everything for the home, thats where the action is going to be. A lot of Retail Stocks have just gotten hammered over the last six months almost seeming to discount in something bad. Are those stocks telling us an incorrect story or are they down for a particular reason . If youre not in one of those categories youve had a hard time. We had a very warm seasonal fall selling season. Later labor not. Not selling a lot of coats when 63 degrees today is the high. 33 degrees last year. I have inventory thats building. Consumers will get a great deal. What about the idea that black friday doesnt matter that much. It always matters. Its the historical kick off to the season but the deals are going earlier and earlier. Right after halloween online does make a difference. So we used to look at black friday as incredibly pivotal but it doesnt feel like it is anymore. Well have you back next year. Dont get me wrong. It just doesnt seem that meaningful. Its not what it used to be. Its not the whole kick off. You have people opening on thanksgiving day. This whole push for cyber monday that started a week earlier, week and a half earlier on amazon. Seems to me there will be less of a crush. Less of the sense of urgency that you had in the past. We had black friday on wednesday. You have all the retailers basically pulling earlier and earlier because they want to get their fair share. They have merchandise to move and have to move it quickly. Doesnt help that we dont have a lot of Foreign Tourists here also. Because thats a boost that impacts. Its always the last ten days before christmas that makes the difference. I understand the reason that they need to do this. The reason you need to go earlier as you have to get the shopper in earlier because youll win the market share but are these less profitable sales, forget about the fact that theyre offering 40 off or something, is it worth it to keep offering the discounts and do them so early. More on the apparel side than anyone else and retailers that bought merchandise in order to move its specific margins but were starting off at 40 which is when i was in macys last night and express you name it t deals are there. Fwap is doing 50 plus and maybe 10 extra this morning. Theres great deals out there. More this year than last year . Feels like the deals are starting off at a higher mark down rate than last year. Is it for real good stuff . Or a few things in the back of is it store. Good stuff out there is a great deal. Because they were high exiting the season. High end retailers, you never get a deal. All right. She is with us for the next three hours as all the numbers start to roll in from black friday. Forget about cyber monday. Toys r us is getting a head start on sales during the busiest season of the year launching its early yeriest start ever. What the toy company is calling 8 weeks of cyber week savings. They opened at 5 00 p. M. On thanksgiving day. Joining us is the chairman and ceo of toys r us. We saw the crowds there running in. Thank you for joining us this morning. How have sales been so far . We got off to a good start last night. I happen to be in our store here in times square and we have hines of people down the street when we opened if doors at 5 00. It was a lot of fun. I was stunned to see how many people are out walking around. Are there crowds in the store . Weve had people filter in and out. Ive seen people with large bags of products they purchased. It does my heart good this early in the morning. We were just talking with dana about the sales that are offered and the competitive marketplace thats out there. Do you feel like its a hypercompetitive situation at this point and you really have to offer big sales toerl get people into the stores . Its been very promotional early in the cycle. A lot of great value in terms of price reductions. Across the line competitors we offered a tremendous amount of value. We had a lot of kick off sales as part of our thanksgiving opening. Starting today we have 20 pages full of values across all brands and categories. So we have a lot of people to either come into our stores or visit our website. Whats the hottest ones you have seen in the first week or so of holiday selling. We have a product called pie face which is one of the most fun games ever thats doing very well. We had done a good job last night we sold an enormous number of Cadillac Escalade battery operated small cars for children. Wow. Theyre remote controlled or you sit in them . Sit in them. All things paw patrol. All things sh porks kins. We show you from moose toys we have keith here. Hell sing, hell dance, hes ride around on his little cart. Hes a very interactive toy and you dont have to worry about cleaning any cages can. Its very parent friendly. We have our 2015 holiday doll here. Journey girls is a brand that we offer exclusively at toys r us for 49. 99 and the theme this year is an italian theme and then of course all things star wars. We have seen robust sales on our star wars product. This is our droid. He is remote control. Talks to you, talks back. Lights flashing. It has a light beam you can put on the wall that shows princess lea on your wall. Youre our only hope, right . How much is it. Its 159. 99. Its a very, very complicated toy in terms of what it does but a very easy toy to operate. Cool. I was just going to ask what the hot toys were. Dave, i remember years ago when walmart became the biggest seller of toys but my guess is amazon has been quickly climbing up the ranks too. Do you feel like youre competing more with an amazon or walmart these days . Listen we have major competitors out there but we cant out amazon an amazon or out walmart walmart. Were in this business 365 days a year. Thats what the consumer expects of us and whether its in our bricks and Mortar Stores or web store which over the last few days has seen a significant year on year strike, were out there playing in those areas and offering our toys and values to our customers. How are you . How different is the end of the Holiday Season going to be than the beginning of the Holiday Season . Are the deals going to get better . Its a really interesting thing. A lot of what drives price and deals is inventory levels and you dont want to be in a situation where you have such accelerated sales through value offers early in the period that when you get toward the end that last week before christmas the good news is theres a lot of value but the bad news is everybody is out of stock. So we really watch it on literally an hour to hour basis as we manage price and as we manage Product Availability to make sure that we have enough product to enable our shoppers to be with us and get a great selection up through christmas eve. Thank you for joining us today. We know its a busy weekend for you and we appreciate your time. Youre most welcome. Happy thanksgiving to everybody. I dont know if the r2d2 thing would run my jet fighter. Well done. The retail season is hardly childs play. But first we head to break. Heres a look back at this date in history. Proud of you, son. Ge a manufacturer. Well thats why i dug this out for you. Its your grandpappys hammer and he would have wanted you to have it. It meant a lot to him. Yes, ge makes powerful machines. But ill be writing the code that will allow those machines to share information with each other. Ill be changing the way the world works. interrupting you cant pick it up, can you . Go ahead. He cant lift the hammer. Its okay though youre going to change the world. Russia looking to retaliate against turkey for downing a war plane. Vladimir putin making strong statements following his meeting with french president hollande. Jeff joins us live with more from moscow. Yeah. Interesting developments in this story because we learned in the last hour or so that president erdogan has invited president putin to meet with him in pair risk. Were waiting on the response to that but hollande came here late last night and met with president putin and appeared to get some cooperation on targeting isis terror groups. There will be a deepening of information sharing with the french but president putin clearly still angry and upset about the downing of this russian jet fighter by the Turkish Military and he used the opportunity of the press conference after that meeting last night to say, we gave information to the United Stateslead coalition. Why wasnt that information about the location of our jet shared with the turkish. And if it was, why did the turkish then shoot the jet down . So theres still some Unanswered Questions in this story because the Turkish Military continue to insist they did not know it was a russian aircraft. So president putin suggesting the white house and mr. Obama might like to clarify the situation. Was the information shared with its nato allies and, if not, why was their jet shot out of the sky . Back to you. Beyond that, jeff, what about the issue of so he says more information sharing, et cetera. But the Biggest Issue that the u. S. And france have with russia is the targeting of what the west says are moderate opposition groups. Hence why they were shooting in that particular. Did he give any sense that he would do less of that . Because hes trying to support assad instead . Yeah. This is the key difference of opinion. The president of france came out and said we do have agreement with president putin about sharing information and targeting the right groups but theres still a difference of opinion over the future of syria and the Bashar Al Assad regime because president putin came out and said theres only one force that can win this battle against isis on the ground. The troops belong to the syrian army and the Syrian Army Continues to be the legitimate force in syria that supports the presidency of Bashar Al Assad. So theres still a key difference of opinion here over the future of president assad and i didnt see any narrowing of that gap in that press conference or that meeting that took place last night between president hollande of france and president putin of russia. Theres some suggestion in the papers this morning that the russians have been bombing the turkmen which are a group working along the border there. Do we know anything about this particular plane . Was it going after them on the border there . And were the Turkish Forces protecting them . Yeah. Theres a certain amount of opacity around this story. But given how close this aircraft was to the turkish border, given how close it was one suspects that may have been what it was doing and there have been suggestions that they have targeted this militant group which is in opposition to Bashar Al Assad. So theres still confusion i think about exactly what this aircraft was doing at the time in this space but of course it would fit in with the overall story here that president putin continues to support and cooperate with Bashar Al Assad in syria so at this stage theres no indication that he changed his tack on continuing to support the forces supporting the existing president in syria. So it is a possibility steve that thats indeed what that aircraft was doing in that space. A loft suspicions about that. Thank you, jeff. Lets go to Global Markets now. Investors are getting ready for a jam packed week ahead including an opec meeting and ecb policy decision. Chief investment officer. And cnbc contributor. He is Founding Partner at b. K. Asset management. Let me start with you. Were reaching down into the 105 area on the euro. Is this the highway to parity . It feels like everybody is pressing down. You saw a lot of speculative lows. Theres a lot of support underneath this 105, 104 level. I have been arguing th