hi, everyone. welcome to "on the money." i'm becky quick. the markets rally around the world with a bang. why china and europe really matter to your money. and our obamacare checkup. one year later is america's health care system healed, sick, or somewhere in the middle? and talking turkey. the ceo of butterball tells about turkey trends, tastes and temperature. plus if you're waiting for black friday to do your holiday shopping, you may want to rethink that. we'll have shopping secrets and the best days for bargains. "on the money" starts right now. >> this is "on the money." your life, your future. now, becky quick. here's a look at what's making news as we head into a new week on the money.

the stock market is off to the races once again. equities soared in early trading friday after the bank of china lowered interest rates to stimulate that country's economy and the european central bank president mario draggi started a new bond buying program to help europe's economy. the dow closed at new record highs, again. if you've been house hunting lately, you aren't alone. sales of existing homes rose in october, increasing 1.5%. that was well above what economists had predicted. big retailers reported earnings this week, and they all beat expectations including home depot, lowe's, target, staples, and best buy. it's almost time to hit the road again for the holidays. and aaa says that the highways will be crowded. 46.3 million americans are expected to travel by car. that's up 4.2% from last year. with gas down 43 cents a gallon from last thanksgiving. and billboard is trying to keep up with the times. its weekly tally of the 200 top-selling albums will now count streaming music and digital sales rather than just albums. it seems every time you turn

around the markets are setting new records. and it all started friday morning with a bang after china lowered interest rates and the ecb started a bond-buying program. so are we off to the races or are there obstacles that are in the way? joining us right now is tom purcelli, chief economist at rbc capital markets. heidi moore is the guardian's u.s. finance and economics editor. tom and heidi, thank you both for being here today. friday morning was a very interesting time. to hear from the ecb and from china, all within moments of each other. tom, what do you think this means? >> i don't think anybody should be surprised by the fact you have this -- people will call it coordination. i don't think it's coordination. i think the reality is these economies are going through the cyclical swing down and they require a lift. and so i think the ecb was telegraphed ages ago. the china development was something of a surprise, to be sure. but even there how surprised can you be when you look at their pmi?

it's basically been oscillating sort of above and below break even for the last two years. so i just think the reality is the u.s. is fortunately not in that same boat. and the fed policy makers are going to basically try to take some of that stimulus out. so it's a very interesting sort of dichotomy we have right now. >> heidi, it may not be a coordinated effort. i don't think that's the case. but this is a beggar thy neighbor policy and we've seen this do round robin around the globe. what does it mean? how does it work? can it be effective when everybody's trying the same thing? >> it all comes down to the backs of the consumers. for a long time we thought the u.s. consumer was going to save the world with our spending and by, you know, inspiring the world chi, and then it went on to the chinese consumer. and now the chinese gdp is half of what it was in 2007 when it hit its peak. and the chinese consumer can no longer spend enough to support all the run-up in production and prices, commodities, oil, gas, cotton. we pushed production of all of

those up because we thought china would buy. it's not buying anymore. so it's plan b for the rest of the world. the ecb has to be thinking about how europe is going to survive. and the u.s. is still working on our recovery, but we actually look good because at least we have a recovery. >> i think this is a great point, heidi. i think what people have to realize is all these other central banks sort of take a cue from what's happened here in the united states. we've -- you know, for lack of a better phrase, we've printed a lot of money. yet even with all this money printing the consumer's still chugging along at just a 2% clip. the reality is you can create a favorable backdrop in theory for the consumer to take advantage of that. but if the transmission mechanism is broken then you can only -- you can't force borrowing, you can't force buying. >> what i wonder, though, is the stock markets certainly seem to love these things. you watch the markets not only here today but also in europe on friday, watch them take off. i just wonder, is that real? can it last? does that fall apart? what do you think?

>> so here's what i'm seeing in the united states. just keep in mind what typically drives a stock market down. it's almost always a recession. i think what you have to realize is that i don't even see a recession anytime in our future. so if that's true, then what i would say to you is then the stock market should probably continue to move along. i'll leave it to the strategists to come up with what does that mean in terms of returns? but the reality is i think you should still see buoyant stock markets in the face of the fact that you're not looking at any sort of recession. at least not in the near term. in fact, we would argue we're sort of at the mid-point of the cycle in the united states. >> you would. you're talking about multiyears. >> without question. what i would say is it's funny. i always say this about equity investors in particular. i feel like equity investors are always so desperate to see 3% or 4% growth in the united states, but here's the great thing about not growing at 3% or 4%. the only way to get there right now, one of the only ways to basically accelerate economic activity from 2% to 3% or 4% is for credit to be used. and once you start to use credit

in a more material way at the consumer level, that's when you start to build in imbalances. and the lack of imbalances means that you'll probably have a much longer economic expansion than is typical. so instead of a seven or eight-year expansion this will probably be a 10 or 12 or could be 15-year expansion. >> this past week the federal reserve said it feels pretty good about the u.s. economy, it does not feel so great about what it sees happening around the world. there is the risk of contagion but i just wonder what we should be watching next, where the stock market will be picking up its cues. >> what you want to watch for the stock market is how companies are going to be doing. companies have been doing really well. that's what's been driving prices up. but their profits aren't matching up with that. and earlier this year there were a lot of worries about profit warnings from companies. their profit margins were falling pretty sharply. so you're seeing these high stock prices but not the same kind of performance in the company's bottom lines. so you need consumers to fill in that gap. and we're going to see that on black friday. and that's what's coming in the week ahead. i think the thing to watch and which the federal reserve also

mentioned is that consumers have record debt right now. $3.2 trillion if you count auto loans, credit cards, and student loans. and if black friday does well, it will be because of more credit. so you have to think that if retail sales do really well this week it's because people are becoming more indebted. so it's a little bit of a risk. >> that will be something to watch closely. tom, what are you telling your clients right now? >> it's funny. i have this presentation i bring to client meetings. and the title of it right now is i have more charts in here other than those related to the fed. that's all anyone wants to talk about right now, is the fed. and i'm happy to have that conversation. i think from our perspective as relates to the fed we do think that they will go in the middle of next year. in a lot of ways i think they've painted themselves into a corner in this regard. for better or for worse, i think we're looking at middle of the year lift-off. >> tom, heidi, thank you both. >> thank you, becky. >> thank you. up next, we are on the money. enrollment for year two of the affordable care act is under way. what's working and what isn't.

we'll hear from the ceo of one of the largest health systems in the country. and if you are planning on cooking up the perfect thanksgiving meal and you need a helping hand for your holiday feast, we'll be talking turkey with the man who runs butterball. right now as we head to a break, take a look at how the stock market ended the week. ameriprise asked people a simple question: in retirement, will you have enough money to live life on your terms? i sure hope so. with healthcare costs, who knows. umm... everyone has retirement questions. so ameriprise created the exclusive confident retirement approach. now you and your ameripise advisor.... can get the real answers you need. start building your confident retirement today. is a really big deal.u with aches, fever and chills-

there's no such thing as a little flu. so why treat it like it's a little cold? there's something that works differently than over-the-counter remedies. prescription tamiflu attacks the flu virus at its source. so call your doctor right away. tamiflu treats the flu in people 2 weeks and older whose flu symptoms started within the last two days. before taking tamiflu tell your doctor if you're pregnant, nursing, have serious health conditions, or take other medicines. if you develop an allergic reaction, a severe rash, or signs of unusual behavior, stop taking tamiflu and call your doctor immediately. children and adolescents in particular may be at an increased risk of seizures, confusion or abnormal behavior. the most common side effects are mild to moderate nausea and vomiting. so don't wait. attack the flu virus at its source. ask your doctor about tamiflu. prescription for flu.

the mercedes-benz winter event is back, with the perfect vehicle that's just right for you, no matter which list you're on. [ho, ho, ho, ho] lease the 2015 e350 for $599 a month at your local mercedes-benz dealer. health care accounts for about 18 cents of every dollar spent in the u.s. economy. is the system providing affordable and quality care for you. joining us right now right during annual enrollment season when a lot of people are thinking of their benefits and insurance is the head of the largest health system in the nation. mount sinai president and ceo ken davis. dr. davis, thank you for being here today. >> pleasure to be here. >> how do you think we're doing

when it comes to taking care of people who have health insurance or who need health insurance? >> well, this has been a complicated law and the law was designed to do three things. to improve access, to improve quality, and to decrease cost. and it affects different entities differentially. so it affects patients. it affects the people who provide care. and it affects insurance companies, the payers, the government. so how have we done with all those entities? well, we've improved access. there are more patients who are insured than were ever before. and that's a good thing. there are things in the a.c.a. that have mandated changes in quality. fewer hospital readmissions. we have fewer hospital acquired infections. we've improved quality. have we diminished cost? well, it seems that the rate of increase in medicare expenditures and medicaid expenditures is certainly the rate of increase is diminishing. is that the a.c.a., is that other reasons, we can debate that. but it seems that a lot of the goals of the bill are being met. >> you run a hospital system

with seven different hospitals. and what is it, 3,500 beds? >> 3,500 beds. >> so how is it impacting how you run things at mount sinai in particular? >> well, hospitals are under a great deal of pressure. we in new york don't see an influx of medicaid patients because it's a fairly generous medicaid state to begin with, and we don't see a whole lot of people who have joined the exchanges who previously didn't have insurance. what we're seeing is the decrease in revenues that have been associated with so many aspects of policies for the center for medicare services and for the aca. so what we see is shrinking margins and increased pressure on the hospitals. >> you know, that was something that originally the hospitals were going to have to take the hit early on. once everybody got conk, it was supposed to be better things. i know that hasn't necessarily been the case with mount sinai. has that been the case with the hospital system in general in the united states? >> it depends where your hospital is located. if you're in an area that has

high medicaid, having more medicaid patients doesn't really help you because hospitals lose money on medicaid. mount sinai we lose about 13 cents on every dollar in medicaid. so that doesn't help. but if you're in an area that is relatively underinsured, people are buying more commercial insurance because of the exchange, you've gotten more patients and it's a good thing. so it depends on the demographics of where your hospitals are located. >> when i said off air just a moment ago about 18% of the gdp going toward health care, you said yeah, and headed toward 20. how do we arrest that? how do we stop that growth? how do we get that number back down? >> you know, bending what we call the cost curve in health care has really got to be a focus of everybody's attention, all the policy makers. we've only begun to scratch the surface because a lot of the most difficult issues we don't deal with. for instance, most of the cost of medicare, the largest percentage, is spent in the last year of life. the last year of life is often

for complicated yet futile treatments for patients who really, if they had the choice, wouldn't have wanted them. so what we need to ask is how do we improve the dialogue around end of life care with advance directives so that we don't do what patients don't want and what is enormously expensive and often futile. we also don't really want to address head on the problems with the epidemic of type 2 diabetes in the country, which is a consequence of obesity. we still don't have a dialogue on whether we should be subsidizing corn to make high fructose corn syrup, which is a major culprit in that obesity epidemic that drives so much health care costs. >> every time that comes up you get into the discussion where people fight back and say that's nanny state and i don't want nanny state. how do you get at these issues without having that part of the conversation? >> i think you discuss it like you discuss tobacco. what we have is a health care problem. and what we did around tobacco was warn people and do something about its accessibility.

we haven't even wanted to approach that around a lot of the sugar that infiltrates so much of our food sources. >> if you had let's say one or two initiatives that you could attack, is that what it would be? >> i would do three things. >> okay. >> i would facilitate advance directives so that doctors, hospitals know what people want at the end of life. i would think very hard about warning labels on high fructose corn syrup and stop the subsidies for corn. and the third thing that i would do is i would ask what can we do to facilitate the development of those drugs that are most needed to bend the cost curve and for public health? we have not incentivized the drugs' development that we need the most whereas we've incentivized the drug development of other kinds of drugs. >> doctor, i want to thank you so much for this conversation. i'd love to have you back again soon because it seems that there are endless topics we could discuss here. >> there are. thank you. >> thank you, dr. davis. up next, we are on the money. fresh or frozen?

help with your thanksgiving meal is just a call or a click away. butterball's ceo is here to talk us through your turkey troubles. and later, is black friday worth it? find out where and when you will snag the best deals for your holiday shopping. here's a hint for you. it may not be the day you expect. -7

. this week millions of people will carve a thanksgiving turkey with all the trimmings. according to a recent report by the american farm bureau, the cost to feed a family of ten

thanksgiving dinner went up less than 1% from last year. but even if the cost scale isn't going up much, what about the cooking itself? joining us today to talk turkey is butterball president and ceo kerry dowdy. kerry, good morning. it's great to see you. >> good morning, becky. >> let's dig right into this. this is thanksgiving week. people are still having traditional holiday meals, i assume, but i wonder how people are going to be cooking their turkeys this year. >> well, there's a couple things going on. one is the tradition of the normal turkey dinner. on thanksgiving. that's a time of special celebration, joining friends and family for a meal. and although preparation methods have changed dramatically across the spectrum, you still have a lot of the old nostalgic meal preparation around thanksgiving. it does include different sections of smoking, brining, and deep frying now that we hadn't seen in the past. but i would say for the most

part most families are going to enjoy a traditional roasted turkey on thanksgiving day. >> we just talked about how prices have not really gone up overall for preparing a thanksgiving meal. i just wonder what about turkey prices themselves? what have they done over the last year? >> yeah, turkey prices, there's two different things going on there. obviously you mentioned earlier grain driving the cost of proteins across the board. turkey on average, all products, we've seen the increases in price relative to the feed inputs that all of the proteins have. however, around thanksgiving you have a lot of retailers that continue to price turkeys to get their customers in to buy their basket of groceries. so it's still a significant loss leader at retail, and therefore very little increase year to year. >> you know, a lot can go wrong when you're trying to cook a big bird. it can be incredibly nerve-wracking for the cook. i just wonder, when did you

start the hotline? and what can people expect if they actually do call the butterball hotline? >> well, the turkey talk line opened up first week of november this year. we've got 50 turkey experts, if you will, that believe me, they've heard all the stories of problems with thawing, with preparation, with cook times, with yields, how much. they've got the answers to all that. and a new facet of the turkey talk line is the ability to go online. butterball.com. and basically butterball it and get all your questions answered online this year. >> kerry, have you ever actually worked the turkey talk line? >> i've been up there several days. i can't tell you that i -- i don't think they want me actually picking up the phone and answering questions. i feel very confident i can do that. but i have been up with the ladies and gentlemen that operate the turkey talk line, and it's a lot of fun. it's very stressful. they're working a lot of hours in a short period of time. but for a good cause.

>> what's the weirdest question you've ever heard anybody ask? >> well, i think two things. one was a lady called in and asked us if we could tep her find her turkey because she had placed it to be thawed out. and we said, okay, where at? she said, well, it's outside. and the problem with it being outside is they had gotten four feet of snow and she had literally lost her turkey. another one was a call asking about how long it would take to thaw their turkey out in their -- in their rinse cycle in their washing machine. so those are some of the types of questions we get. >> those are a couple of doozies. i'm going to try to come up with one myself and call you guys this week. kerry, thank you very much for joining me. >> my pleasure. thank you very much. have a great day and a great thanksgiving. >> you too. up next "on the money," a look at the news for the week ahead. and bargains or bamboozle? find out if the best day to shop is the one you think. people with type 2 diabetes

come from all walks of life. if you have high blood sugar, ask your doctor about farxiga. it's a different kind of medicine that works by removing some sugar from your body. along with diet and exercise, farxiga helps lower blood sugar in adults

with type 2 diabetes. with one pill a day, farxiga helps lower your a1c. and, although it's not a weight-loss or blood-pressure drug, farxiga may help you lose weight and may even lower blood pressure when used with certain diabetes medicines. do not take if allergic to farxiga or its ingredients. symptoms of a serious allergic reaction include rash, swelling or difficulty breathing or swallowing. if you have any of these symptoms, stop taking farxiga and seek medical help right away. do not take farxiga if you have severe kidney problems, are on dialysis, or have bladder cancer. tell your doctor right away if you have blood or red color in your urine or pain while you urinate. farxiga can cause serious side effects, including dehydration, genital yeast infections in women and men, low blood sugar,kidney problems, and increased bad cholesterol. common side effects include urinary tract infections, changes in urination, and runny nose. ♪do the walk of life ♪yeah, you do the walk of life need to lower your blood sugar?

ask your doctor about farxiga and visit our website to learn how you may be able to get every month free. you can go to our website, otm.cnbc.com. here are the stories coming up that may impact your money this week. on tuesday the second reading of last quarter's gdp is out. also on tuesday the case schiller home price index being released. that measures the prices of homes that have been sold. on wednesday personal income figures are released. and it is the fab four's 52nd anniversary. it's the day that john, paul, george, and ringo had their first recording session under the name the beatles. gobble gobble, everybody. thursday is thanksgiving day.

and the markets are closed. and on friday the markets close early after a half day of trading. attention, all you black friday shoppers. you may actually be searching for the deals on the wrong day. so what is the right day? joining us right now, personal twin correspondent sharon epperson on the real bargain days to shop. and they almost never involve standing in line outside in the cold. that's the good news. >> that's the great news. >> if it's not black friday, though, when is it? >> well, it is actually the sunday before thanksgiving. that early. do you have your act together? i certainly do not. but if you know what's on your list, that's a great day to go. or even go the day before thanksgiving. >> why? >> a lot of folks think cyber monday's a great day too. no, actually, if you want to go online, shop on thanksgiving day. >> is that because the retailers are really trying to get you early in the season? >> there's so much competition. there's always been a lot of competition. but now when you can figure out what you want right there on your smartphone, the competition is even more steep. so there are often great deals earlier and earlier. the onus is on the consumer to get their act together, have

their list together, their budget together to then be able to shop and take advantage of those deals. >> i know we're a lot smarter now in terms of being smart shoppers because we can look at our smartphones and try to figure out the best price right there. but what are some red flags to let you know if you're really getting a good deal or not? >> start on the internet. dot comparison shopping there. look for the deals that might be available to you via social media. sometimes there may be special prices that you'll see on facebook or something and you didn't get something in the mail about it or you may not have gotten an e-mail about it, but it's on social media. so look there. then you can actually do some comparison shopping right there in the store. red laser, different mobile apps like that will let you just look at the bar code and compare, see where you can maybe get that item cheaper. >> tell the truth. do you shop out on black friday? >> i do not. i do not want to leave the house. that is one day i'd rather just be inside and not do it. but you know, a lot of people do go out and they do go out on black friday, and they know that there are certain items on the list that the kids have to have, they really want to get them for them. and the one red flag you asked me about red flags, is don't get

pressured into getting one of those store cards because you're going to get a discount. there have been studies that have shown that a number of consumers, maybe a third, feel like they're bullied into getting a store card because they're going to get this offer and the clerk is saying, you know, you're going to get this much off. really stick to your guns, stick to your budget. have an idea of what card you're going to use. use the card with the lowest interest rate. that way if you're going to carry over the balance -- >> you pay less on it. >> -- you're going to pay less on it. >> sharon, thank you. >> sure. >> that does it for us. that's the show. i'm becky quick. thank you so much for joining us. next week a special holiday look at gift ideas, charity and retail in the season of giving. each week keep it right here. we're "on the money." happy thanksgiving, everybody. ♪

the mercedes-benz winter event is back, with the perfect vehicle that's just right for you, no matter which list you're on. [ho, ho, ho, ho] no matter which list you're on. lease the 2014 cla250 for $329 a month at your local mercedes-benz dealer. stamps.com is the best. i don't have to leave my desk and get up and go to the post office anymore. [ male announcer ] with stamps.com you can print real u.s. postage for all your letters and packages. i have exactly the amount of postage i need, the instant i need it. can you print only stamps? no...

first class. priority mail. certified. international. and the mail man picks it up. i don't leave the shop anymore. [ male announcer ] get a 4 week trial plus $100 in extras including postage and a digital scale. go to stamps.com/tv and never go to the post office again. [ticking] >> i make money. nothing wrong with it. that's what i want to do. that's what i'm here to do. that's what i enjoy. >> you tell me you're a shareholder activist. >> i don't say--the name is the same. an activist is the same as a raider, you know. they call it whatever you want. rose by any other name. >> so you haven't changed? >> i haven't changed at all. not one iota. [ticking] >> eli and your lovely wife right here please. >> eli broad may be very rich, but he says he wants to die poor. to achieve that, he gives money away by the bucket load. half a billion dollars so far to los angeles, to disney hall, the l.a. opera, the museum of contempora