People shopped over the holiday weekend. Almost equal numbers visited physical stores and online outlets. Well have much more with our veteran industry analyst dana telsey will join us in 20 minutes. Before we do that, lets take a quick check on the markets. U. S. Equities at this hour, dow opening up 27. 5 higher. Nasdaq up 6. 5 higher. S p 500 at 1 point. Lets tell you about global news this morning. World leaders arriving at a u. N. Sponsored summit on the outskirts of paris today. Amid heavy security. The meeting will focus on Climate Change. New this morning, the u. S. Embassy in afghanistan putting u. S. Citizens in cab bull on high alert. Officials warning that the embassy has received credible reports of an imminent attack in the next 48 hours. Americans in kabul are being urged to exercise extreme caution in moving around the city following the paris attacks earlier this month. The u. S. State department issuing a travel warning advising americans not to travel to afghanistan. No plans for that any time soon. No plans. Closer to home, an fbi warning prompting officials to cancel classes and all activities at the university of chicago at that schools hyde park campus today. The decision comes after someone posted an online threat warning of gun violence at the campus quad area and they even gave a time, 10 00 a. M. The school is asking those on campus to remain indoors as much as possible, including students in college housing. Here are the big market stories were watching. The imf is expected to announce today that it will include the chinese yuan in the reserve currency basket. Eunice yoon will join us in beijing on what this means in a couple of minutes. In corporate news, shares of bhp billitin. Is it valet. Not like veil resorts. We need charissa cabrera. Yeah, theres a gap between us. A little space. It would have helped last week if there had been a little bit more space. Oh, you think that you got i do think you gave it to me. Hold on. So everybodys aware of whats so i got sick about a week and a half ago. No ones ever gone home. I want you to know, i wanted today stay. I wanted to stay. I wanted to stay. Remember everyone thought my throat was giving out on me. This was a week and a half ago. This is hard. I still have a little bit of a residual cough. This was last wednesday. It was not, it was a week ago. Think about it, ive been gone for a week. I was on vacation, unfortunately sick. You know the jobs report is this friday. I heard. How weird is that . Dont you remember last week we were reporting on the great number. Yeah. Thats been a month already . Thats been a month. So you think you got the flu from me . I dont think so. I dont know. The cough syrup that i ended up taking. Youre happy. This is cnbc, right . Yeah. That stuff is dangerous. Well, im on robitussin. Youll read anything in the telephone. Anything you tell me to read. I could go in there and change things. I might do that. Fun three hours. Yeah, thats dangerous. Anyway, vale, i said we need charissa cabrera, she has all these pronunciations down, god knows where she is. Shes always ready to go. On a plane somewhere. And this drop comes after brazil announced it plans to sue the company for 5. 2 billion in damages caused after a dam burst. Anheuserbusch plans to sell the grolsch and peroni brands. Miller coors going to keep the rights to both of those brands. That was a week ago two weeks ago and youre still feeling the effects. Im still feeling the effects. I think its the flu. Cant you work through a cold . I think so. Flu you dont necessarily have to have a fever that comes every year. Its different. It mutates. Neither one of us got the flu shot. We can still do it. Youve already had it. Are you going to get one . I think im going to get one. Go ahead. A new service. We could do it on the air, like uber. They come here, do it on the app. One of those uber drivers to come and give me a flu shot. Well do it in the chairs at 6 30. We could honestly do it. He has equipment that goes into my bodily fluids. Yes, he does. Some guy. . Some guy that youll call. I dont think we should do it while were sick. Youre going to open up your vessel . Yeah, thats my plan. Ill watch. Okay. Not touching me. Not going to touch the guy. Tell you about Washington News today. Lawmakers will return to capitol hill. This there are less than two weeks left to pass the deadline of a 1. 1 trillion spending bill. Were faced with a government shutdown. The currency stopgap measure expires december 11th. The fed will hold a key meeting as well. Interest rates arent on the agenda. Instead, the Central Banks board will curb its lending powers. This is mandated by the dodd frank law. The new rule would force any future lending problems. It will not be tail lord to individual firms. Well see how that works out. Check on the markets around the world. Europe was pretty good. Were doing all right. Up 44 points. Thats a good start for this week. For what will be the first week of december and that big jobs report on friday. Heres what i was talking about in europe across the board. Pretty good gains except for the ftse but almost 1 in germany. In france up half a percent and then spain up almost a percent. I saw asia as a rough session last week in shanghai but today is not extending those losses. Up a quarter of a percent. Article written at saudi. Theyre not being totally forthcoming. Oil has turned around. Down earlier. Ten year i saw to 26 or so on the ten year. I also was looking at the dollar which i think we saw 1. 05 out there. Still is 1. 05 and 3 4. People think it has to be bad to derail the feds plans. There is gold which is trading near multiyear lows at 1055. It is the last trading day of the month because theres only 30 days in november im told. Investors looking for a week of big numbers and fed appearances including two by janet yellen. Yeah, two. Twofer from janet. Well get an ecb rate decision. Expected to expand its easing program. Oil on the agenda. Opec meeting in vienna on friday. Then on the data front, auto sales, productivity we round out the week with the big jobs report. Lets bring in ed campbell, principal of qma, jerry webb, start with you the on the market in general. We have a big, fat dirt sandwich this year for is it dirt sandwich . Is that the expression . It sounds all right. In other words, not much for investors to really be excited about. We have you know, we didnt stay down at 10 or 12 . We didnt stay down at the lows but were flat. Weve rebounded. On a total return basis were at about 3 poi. 5 . Pretty tepid. You expect the same next year . I expect another flattish year for the s p 500. I think one of the things that is weighing on returns this year is definitely earnings. Were likely to come in at about 0 for calendar year 2015 and the big thing that took a bite out of earnings this year was oil and the come to lar. I dont think theyre going do as much damage this year because you would need to see a bit of earnings. Positive earnings but still pretty tepid. So youd go abroad but not emerging . Youd go developed markets abroad . Yeah, we like europe and japan for a number of reasons if we focus on europe for a second, earnings are still cyclically depressed compared to the United States where theyre above trend and margins are high. Youve got a central bank thats going to be easing while the fed is likely to be hiking. Thats what youre really talking about, isnt it . Yeah. We are always told, jerry, that weve got the best house in a bad neighborhood in this country right now, right . With the economy. So why not if thats the case, why not buy stocks here . You know why . Because the Interest Rate, youre banking on easy money. Weve got the best economy. Why not invest here . Its not just easy money. Its also Earnings Growth. All right. Its strong in japan right now. Japan is the only place where you in the world where you see strong Earnings Growth despite the fact that youre not seeing strong economic growth. But the history is when the fed eases at a gradual pace, which every indication is thats what they intend to do, and why wouldnt they who . Eases it sorry, tightens it. Its monday morning, joe. Sitting in the chair. Im worried about my alma mater. You tell me ufc if they tighten at a gradual pace as we think they do, the stock market will do fine. The problem with eds point is thats pressie much where consensus is now. I dont disagree with him substantively. The problem is europe is good, e. M. Isnt doing much. The prob blemg with that position is thats consensus. I was at a conference in london, thats consensus. Where are the surprises going to come from . China has the ability to do monetary and fiscal stimulus that nobody else in the world does. Dont expect a lot but, boy, that would be the positive surprise. U. S. , the head winds from oil, they fade. Youre not going to see another 30 rally in the dollar. So u. S. Probably does a little better than were expecting right now. The europe story, ive been behind it. I love it. I think its great. Boy, ill tell you it hasnt done as much this year as it should be. Well see. Someone explain to me, sorkin you can explain this to me, too. Youre not likely to see the dollar go up as much or oil fall as much as it has in the last year but if it just stays if both of those things stay where they are in the doldrums in depression level, you know, just because the comparisons arent getting worse, the earnings for the oil group are going to be just as bad if oil stays at 40. Theyll be just as bad as they were for the past year. But they wont go down. Theyll still be sharply depressed. Thats 5 . Just because it doesnt go down further then you feel like youre not in pain . Listen, the oil sector i think is going to be a long time before you see a major recovery. Thats what opec is betting on this week and why theyre going to go for the market share story. The dollars a different story. There the change is what drives the change in earnings. So, yeah, i think that weve come to a level here where we wont see the rate of change the change in earnings is less but the same absolute level that youre getting is the same. Now you have the u. S. Consumer, how many million more jobs . We saw earnings starting to improve. We have seen the housing sector strengthening in the u. S. Im going to look at what andrew wants to talk about. Divergent path set for fed and ecb. Thats true. We know that. Where . Right there. Read the newspaper. Where are you . What paper are you looking at . On the right. This is considered the lead right here. This is the lead. And what theyre talking about is what we were just talking about, the likely path of Interest Rates in two regions add to currency market turbulence. This is not a lead. 12 increase in the value of the dollar against the euro since the start of the year. This year. This year. But the question that this poses is whether that turbulence will actually make miss yellen get a little anxious. I think well see turbulence. The history is when theres divergence, the easing countrys currency tends to do a little better one year out because they start to get some traction, they start to see somewhat better performance in the asset market. You dont think the fed looks at whats happening in our roche and says, you know what, weve got to slow down . I dont think theyre looking try to balance policy with europe. I think theyre concerned, the concern of the fed isnt about the traditionalish use of Central Banks. Concern with the fed is have we messed up something royally . Ive listened to joe kernen. Joe kernen is telling me were messing something up with these extraordinarily easy rates. What if hes right . We better start normalizing things even if theres some risk in doing that. What were likely to see on december 16th is going to be an important day in fed history. Well see the fed after seven years of a zero Interest Rate policy finally exit. I think its an appropriate thing. Its time to take the training wheels off of zero Interest Rates because the economy can handle it. That is like a bolo. Is that new is that new . The tie. That is so thin that that is like a boy band. Its like remember the boy band guys . I think its i think its very cool. I just told my wife to take back a tie narrow like that. I said i cant wear it. Im not as young. Are you telling me i cant pull it off. Im pulling it off. Im pulling it off right now. Hes half my age. Pulled it off in the 90s. What do you think . Hes half my age. Is that a tie . You think its a string. What are those things called. Kids wear a scarf. Have you seen men wearing these . They wear a scarf with a blazer. Well, or very retro, right . Show me, thats why. They didnt even show me. Who makes that thing . Your friends. Huh . Your friends the fancy pants at zenia make it. No way. Bill clinton. Zenia, they have that sample sale. Z zenia. Obviously its cheaper. Theres no fricken fabric. That is like a bolo. All right. Do you see how i see whats going on here. Yes. Youre wearing a tie from the 1980s. I see. Its okay. I have a birthday present from my daughter. These dont change. Beautiful ties. They dont go with every with the fashion. They dont work with obsolescence. We have to get to china but eunice yoon is waiting for us. Whats on your tie . Almost like a surfer with surf boards. Cool stuff. As i say, my daughter, who sets the fashion tone, bought this for my birthday so i know its cool. Has to be cool. Gentlemen, thank you. We have to get over to china. Sorry to diverge with the tie talk. Im not apologizing. Im not apologizing for everything. The imf is expected to announce that it will include the chinese yuan in the currency baskets. Eunice yoon joins us live with a look at why this is so important. Good morning, eunice. Reporter good morning, andrew. Im not going to apologize for finally breaking up the conversation and bringing it over to china, but the inclusion of the chinese yuan into the imfs basket of reserve currencies is seen as a badge of honor as well as a milestone for beijing. It is an indication that the chinese currency has arrived. Its significant for the imf which has been criticized for not being inclusive enough of the emerging world. The big question is what kind of impact this is going to have on the global markets, in particular on the chinese yuan as well as on chinese stocks and bonds. Because in theory the inclusion should create a lift in demand of chinese yuan denominated assets. However, in practice the Chinese Government restricts foreign access to the markets here. It also controls capital flows. In fact, there are even concerns now the chinese yuan could actually depreciate after the inclusion just because the economy here is slowing down and also what you guys were talking about, it looks as though u. S. Interest rates are going to rise. Thats on the short term. In the long term a lot of people here still believe this is a significant step for chinas longer term goals to make the yuan a global reserve currency like the u. S. Dollar and they also though say that the success of china carrying that out is going to depend on whether or not its going to make good on its promises to open up the markets here, create more transparency and also open up the entire financial industry. Guys . Okay. Great. Eunice, thank you for that. Appreciate it very much. Hope to see you soon. Coming up when we return, forget two day delivery guaranteed, amazon now showing off its drone plans and the video you need to see to believe it. First as we head to a break though, heres a look back at this date in history. Its hard to find time to keep up on my shows. Thats why i switched from uverse to xfinity. Now i can download my dvr recordings and take them anywhere. Ready or not, here i come whispers now hideandseek time can also be catchuponmyshows time. Here i come cant find you anywhere dont settle for uverse. X1 from xfinity will change the way you experience tv. Welcome back to squawk box. Amazon showing off an updated look of its drone program. I was skeptical back then, two years ago. In a video posted to youtube the Amazon Prime Air drone shown taking off. Dodging potential obstacles on the air and ground for a range of 15 miles. Amazon says it will launch prime air once it has regulatory support from the faa. We will see when and if that happens. I hope it dodges obstacles like people. Stories about a poor little boy that got hit by a drone in his eye or something. Thats what we put an eye out with one of these. We have to make sure that this is you know, one is too many for somebody that that happens to, right . If its your kid. If you think of having like dozens or hundreds of those things in the air all the time. Dodging obstacles. I am an obstacle. It has to dodge human beings because those things are right. And dodging each other. Otherwise theyre going to start crashing in the air. Explode, yeah, it will be crazy. It will be like a Science Fiction movie. I dont know if its going to happen. I dont know if theyre going to allow for it to happen. Youre a futurist, too. You dont say that. I like technology. Zero jobs left for robots. Youre worried about the drones . Little worried about the drones. No max hedron can do what we donchts are you positive . Sure. Cyber shoppers getting the gifts where they needed to go was the next big challenge. Morgan brennan is at fedex. Everything that moves. Theres a pattern except for the eggs. Fedex sorting facility in the bronx is one of the busiest shipping days of the year. Its that time, isnt it. Reporter it is time. Something like that makes sense in rural areas where youre not seeing trucks go out and do deliveries. Take a look at this. This is the calm before the storm. In a short while this fedex sorting facility in the bronx is going to begin sorting tens of thousands of packages for the day. This is a scene that will play out at 750 fedex locations across the country for cyber monday. Today is the first of three anticipated peak days for the company during which fedex expects to handle more than twice as many packages as a regular day. Overall it plans to deliver 317 million shipments between thanksgiving and christmas eve. That would be up 12 versus last year with an extra shopping day thrown in and it isnt alone here. Rival ups forecasts over 630 million packages. Thats 10 more than last year between black friday and new years eve. A similar story at the u. S. Postal service which expects a 10. 5 increase in volumes. Dhl express predicts a 40 jump in incoming shipments versus last quarter. Were seeing all of this despite sluggish data. Slowing port activity. Softer than expected truck tonnage. Declining rail rode intermodal container volumes. Those metrics have been signaling high volumes and the potential for a less robust than expected Holiday Season. Even if we were to see that, e. Commerce continues to grow gangbusters. Something were seeing with the National Re