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Items. ready with cash in hand. the national retail federation says holiday sales this year are expected to top $650 billion. a 3.6% increase from 2015. and on cybermonday, at least 36% of consumers plan to nab their deals online. and speaking of online, that is many door busters have sold out but that's not stopping the crowds from forming already. carol? >> all right, alison kosik, enjoy shopping at target. thanks so much. all right, on to politics. donald trump's outreach to former critics could extend into his new commerce department. sources say the president-elect is likely to pick tod...

To top $650 billion, a 3.6% increase from last year. joining me to talk about early shopping is the ceo and chairman of jcpenney, marvin allison. good morning. so jcpenney opened up lots earlier than other stores. why did you make that decision? >> we actually allowed a vote on what time to open. last year we opened at 3:00. it was very successful. we put the vote to the associates and they decided they wanted to open at 3:00 because they felt it gave us the best opportunity to win. >> interesting. so this year's black friday seems to be going a lot better than last year's black friday. what l...

More tense moving forward. maybe the way to get around that is the countries are so economically intertwined. they have a trade value of over $650 billion. the fact is the issues with cyber security and chinese expansion in the south china sea and differences over north korea policy, these countries need each other moving forward. the fact is these two men are going to have to engage one another diplomatically whether they like each other or not. >> you mentioned the size of the trade relationship. one of the issues for donald trump and donald trump supporters is the united states imports more...

These men. chinese state media reported that president xi jinping said to cooperate is the only correct thing to do. you heard from president-elect trump where he said he believes the two leaders will have one of the strongest relationships between the countries. some pomp and circumstance here. nothing of substance. the fact remains donald trump said what he said about china. that could impact the relationship. it was at a campaign rally in may he accused china of raping the united states economically and what china has been doing to the united states has been the greatest theft in the histor...

Is. >> that's correct. this administration has refused to push legislation that would fix that. >> well legislation were going after these businesses themselves that might wake up twitter and facebook and everybody else. all right. thanks for coming in, sir. >> my pleasure, thank you. >> liz, what's coming up. >> after the break, it's estimated americans will spend more than $650 billion during the holiday season. whether you're shopping in stores or online how do you keep your money and identity safe? plus, the vatican lights up its christmas tree. we'll tell you who poured their hopes and dr...