welcome to "worldwide exchange." i'm carolin roth. these are your headlines from around the world. >> reporter: 150 world leaders arrive in paris, the key cop 21 climate change talks. this amid, of course, heightened protection and concern of security on the streets of paris. as far as a deal is concerned, concessions are already being made. bhp shares slide towards the bottom of the stock 600 as brazil gets ready to slap the miner with a $5.2 billion fine

over the samarco mine disaster earlier this month. a volatile ride for chinese market. they close higher. this as the imf is expected to add the chinese currency to its symbolically important reserve basket. still buying, black friday may be turning gray but the national retail federation says over half of americans still did some shopping. u.s. futures are looking like this on this monday morning as we're back from the holidays, back from the turkey. the s&p 500 seen up by 3.5 points. dau jones up by almost 30 and the nasdaq expected to open higher to the tune of roughly 7 points. this is after the s&p had a little change shrugging off the volatility on the chinese trading and volumes obviously very low. but they should pick up again today. european markets, meanwhile, are

looking somewhat mixed. the foots see 100 is down because the pressure is coming from the mining pressure. the xetra dax and ftse mib trending higher after a little bit of weakness after the trading session. all eyes on the ecb this week. let's get back to our top story. u.s. president barack obama and xi zin pi have agreed to work together. steve sedgwick is here. both countries have made great strides in tackling climate change in the last two or three years. >> reporter: yes, they have, carol carolin. the chinese are looking for the services sector rather than export which has been the mainstay of the economy for so long. with that and the slowdown of the economy, the low is not the absolute emissions but the intensity of the emissions on a per capita basis. the intense city and usage which is a problem for the bulls of

the commodity market has worked in favor of the chinese. they can say, look, we are doing our bit as well. over the last year the two biggest emitters have worked to form an accord working together on getting some former deal going. that's a big difference from kioto where the americans never ratified. they said, no way, we're not doing this if the chinese aren't on board. the cop 15 which was a failure for all kinds of reasons. this bottom up approach with these commitments on a country-by-country basis seems to be a more pragmatic way of going forward if not legally binding. we've talked about the lack of a treaty because obama would not get it through congress. republican candidates saying anything that the president commits to will be turned back fon we had a republican president going forward. the president is committed to a 26, 28% reduction of emissions in the u.s. by 2025 compared to 2005 whereas the chinese are

committing to, well, actually reaching peak energy consumption by 2030 as well. the c o2 emissions as a unit of gdp are 60, 65%. they're already the world's biggest emitters of ghgs as they call it. >> steve, one of the most contentious points is who's actually footing the bill when it comes to renewable energy. any movement on that? >> you and me, carolyn. that's who's footing the bill. the western taxpayer in many ways who will be footing the bill. we're talking about hundreds of billions and to trillions in terms of what the world needs in terms of its energy consumption going forward. you look at the service from the iaa, bp, all of these institutions and they say we need trillions spent on energy infrastructure going forward. if that money isn't going to be

spent on fossil fuels and renewables, then that has to be found. you have to get investors, to get pension funds, to get infrastructure funds to foot the bill. we saw the president of the world bank talking first to us earlier on "squawk box" today. he said, look, with their aaa rating at the world bank, they can leverage up and raise a huge amount of money which will go towards those targets. they're going to be needed. if you get the indians on board you need to show them the money. >> steve, let's also talk about security. more than two weeks after the terrible terror attacks unfolding in paris, is there a sense that the tighter security around cop 21 is a hindrance to the talks? >> no, i don't think so in the slightest. i think i've made this point quite strenuously before. i've been to a lot of meetings from davos to g 7, 8 meetings where security around the events

was always going to be tight. having 150 world leaders. you have xi here, putin, obama, erdo win. cici. president obama doesn't travel without his armor plated vehicle. security is tight. around the country there's been a state of emergency after the 130 deaths. the world leaders including obama have been to the site of the bataclan in the last 24 hours to pay their respects. rather than creating a down beat, somber mood, i think it's added to the determination to get something done. >> steve, thank you so much for that. plenty more coming from steve throughout the day. turkey and the e.u. have struck a deal to stem the flow of migrants with an offer of

cash and help. the eu has earmarked an initial $3 billion to help them with their living standards and to persuade them not to make their way to the german islands. angela merkel haled that agreement. >> translator: if i look at the huge number of conflicts that rage in the region, this was a good contribution to settling that peacefully. it's a contribution towards protecting the greek borders. that is something that we need. >> meantime, republican lawmakers are eyeing an upcoming government spending bill as the means to halt the obama administration's program to resettle refugees in the u.s. the hill reports some say they will vote against the catchall bill if it does not block funds for people coming from syria and nearby regions. current view's government

funding runs out on december 11th. plenty more coming up on this show. perfect timing as world leaders gather in paris for the cop 21 climate talks. chinese authorities issue their highest smog warning of the year in beijing. we'll be live in beijing in a few minutes. it's hard to find time to keep up on my shows.

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welcome back to "worldwide exchange." world leaders arrive in paris for cop 21 to tackle climate change. the national retail federation say millions of americans joined the black friday frenzy. amazon shows off how far it's gotten with drone technology with a new video on youtube. it is the final trading day of the month. i want to show you what the dow has done so far this month. actually, it is just barely higher. we're up for the month by about 3/4 of 1%. want to move on and tell you what the s&p has been doing. not moving too much either. we're only higher to the tune of half of 1%. the nasdaq which has outperformed all the other indices up by a whopping gain of 8.3%. not bad for a year of 2015. up by 1.5% this month.

last but not least let's have a look at the fear gauge. the vix is up by 1/3 of 1%. it's sitting around the long term average of 15. the government pension investment fund reported a record loss of almost 8 trillion yen in the third quarter. the world's largest pension fund was hit by sharp swings driven by concerns of a china slowdown. let's check in on how the markets are doing in asia. sri? >> let's pick up on the gpif story, carolin. it's not altogether surprising that we saw such a loss in the july to september quarter for the world's biggest public pension fund given the capitulation that we saw in the china markets and given the impact it had on the nikkei during that period, which is off by 14%. so the gpi getting hit basically on two fronts. domestic equities but also their

holdings internationally suffered because of the stronger yen. a big hit in the third quarter. the worst loss. but in terms of the absolute earnings rate, it was bad but not the worst 56789.6%. this news came after the market closed so we'll have to way for the nikkei to reopen tomorrow to really see the extent of the damage in the broader market after these numbers by the gpi. the worst loss on record. i've got the sense that it's somewhat backward looking. the market can look past these numbers. elsewhere, pretty rough session all in all. degree of risk aversion because we've got a number of risk events over the course of the week. the ecb and the nonpharmpayrolls. the narrative will shift towards the china data. we have the twin pmi data, both from the private forecasters and the official number in china. that will be a real test of

market confidence after the sho sharp losses that we saw on friday. they can tell us, carolin, one of two things. that it could be consistent with the persistent deflationary drag that we have been seeing. so it's down to the data. that's where we stand. back to you now. >> sri, thank you so much for that. we're going to go for a quick break. still to come on the show, all shopped out after black friday? apparently not. a megacyber monday for retailers with one report reporting to a whopping $3 billion in online sales. we bring you all the details. that's next on the show.

the imf is expected to include the chinese yuan. it's a volatile trading session ahead of the decision. there was plenty of talk about beijing intervention. let's get out to eunice who's in beijing. what's the significance of that inclusion, eunice? >> reporter: it's very significant. in beijing it's seen as a milestone and a real badge of honor for the leadership here which has been pushing for the inclusion of the yuan into the imf's basket of global reserve currencies.

it's really seen as a way to indicate that the economy here has arrived and that it is very important. also for the imf, it's seen as a very huge step because it's seen as a way for the imf to appear more inclusive of the emerging world. the big question is just what it all means for global investors in the yuan in particular or in the emerging market currencies. in theory there should be more demand for yuan assets. in practice because of the way the government restricts asset classes here and also heavily controls the currency and other assets, many investors have been put off. now there's even some concern that actually the yuan could depreciate just because of the way the economy is headed, it's slowing down, and also because u.s. interest rates are set to rise.

so overall we could see not much of a bump, at least not in the short term. >> all right, eunice. thank you so much for that. want to take you back out to paris where french president francois hollande is speaking at the opening plenary session of the meeting. >> translator: we need to wake up to the severity of the threat posed to balances in the world. climate change will bring conflicts just like clouds bring storms. it is causing migration which is causing more refugees to take flight than wars. states risk no longer being able to meet the basic needs of their population with risks of famine, mass global exodus and access to that increasingly rare resource,

water. essentially what is at stake with this climate conference is peace and yet hope has emerged during preparations for cop 21. the international community in september provided itself with a complete agenda through the sustainable development goals which were adopted through the united nations and secretary general ban ki-moon i congratulate you on that. 193 states, which is almost all the planet's countries, have put forward action plans to reduce greenhouse gas emissions and to adapt to climate change. and all actors of the global society, local governments, business, investors, citizens,

all have come on board for the planet. often top of this-- on top of t awareness there has been rapid progress made on clean and renewable energies opening the way for a lower carbon economy. to make a success of this conference france has thrown its full weight behind its efforts and mobilized its entire government beginning with the minister of foreign affairs who will be the president of this conference. i have myself visited the regions most affected by climate change. i returned home with the same conviction, that we need to ensure sustainable and equitable development without in any way compromising the limited resources of our planet.

this is the equation that we, together, have to solve during this conference. >> that was the french president francois hollande speaking at the cop 21. let's change gears. black friday. according to the nags national federation, retailers are gearing up for cyber monday. yeah, that's today. the digital index is forecasting that today will yield $3 billion in online sales. that's 12% higher than last year. joining us is kate mooney and the ceo of tesco. let me kick things off with you, sir terry. how big of a boost is cyber monday and black friday?

i would think this is so heavy. do they actually make money from these events? >> traditionally black friday was the most profitable day for u.s. retailers. it's change a little bit now. i think in truth you have to wait through the christmas period and january sales to see what the effect will be. i think traditional retailers are a little bit unsure certainly in the ump k. what to make of black friday. in one sense it's good. it's a call to action for customers. it gets them in the mood buying for christmas. the kind of discounts to entice customers can hit the bottom line quite hard. >> kate, do you participate in that discounting? housology, that's the u.k.'s leading interior design service, your biggest business isn't necessarily around christmas, is it? >> it can be. our business is very seasonal. everything around christmas, decorating a home for christmas is key for our customers. we do participate in black

friday. it's great for bringing in new customers. it's not the foundation and not discounting. >> very important news about your business. you're announcing today that you're seeking 1 million pounds in investment by crowd funding. why do you choose this route versus the more traditional source of funding, versus vcs, venture capitalists? >> we put a map in place. one of the things that really appealed about the crowd funding is that it's disruptive. its business model is similar to ours. it's about pirating small investors and pirating entrepreneurs as well. so our business is very much about pirating our customers. we felt there was a nice synergy there and allowed us to bring our customers along the journey. >> so, terry, crowd funding is

not to you a viability test for many of these startups. they've made it in crowd funding, they can go ahead by being supported by a venture capitalist? >> it's relatively early to the crowd funding. i this is it is appropriate for a business like housology. people understand what the business is. it's well-established already doing real sales. got a really good customer base. it's got a very good board. strong investor commitments as far as the crowd funding. the original investors are investing again. i think it particularly is suitable. people know what they're investing in. many of them will be customers of housology.com so they can participate both as customers and as investors. >> i want to broaden this out a little bit.

how do you feel about the health of the u.k. consumers? we spoke to the coo of sainsbury, yes, woue do see a recovery but it's slow. >> no, there is a strong consumer recovery. i think it is masked a little bit by deflation caused by the drop in oil prices. that has a very direct read across to the price of household goods. a lot of traditional mid market retailers will be struggling with deflation in price list. the underlying volume, the underlying customer traffic is good. i expect that to continue strongly into 2016. >> kate, how's business going for you? are you feeling that deflation may nair ri mind set in the u.k.? >> it has continued to grow at a great pace in the last couple of years. it's not had an impact on us. >> thank you so much for your time. kate moody, founder of

housology.com. i want to thank sir terry lee, former ceo of tesco. we're live in paris where hundreds of world leaders will speak at cop 21. as we head to break, take a look at the newly released melting ice sheath pictures. it's hard to find time to keep up on my shows.

that's why i switched from u-verse to xfinity. now i can download my dvr recordings and take them anywhere. ready or not, here i come! (whispers) now hide-and-seek time can also be catch-up-on-my-shows time. here i come! can't find you anywhere!

don't settle for u-verse. x1 from xfinity will change the way you experience tv. . welcome. you're watching "worldwide exchange." i'm carolin roth. president obama along with nearly 150 world leaders arrived for the climate summit in paris a among heightened security and geopolitical tensions with reports suggesting concessions are already being made. the shanghai comp reversing early losses and closing higher. this as the imf is expected to add the yuan to its basket. the national retail federation said half of americans still did some

shopping. amazon shows off how far it's gotten with its drone technology with a new video on youtube. good morning, everyone. just want to bring you the latest coming from the cop 21 climate summit in paris. mr. putin, the russian president, says he will not, he will not meet the turkish president erdogan in paris. there is no contact planned according to a kremlin spokesperson this is after turkey downed a russian jet last week had asked for a meeting specifically with mr. putin. so there will be no meeting at least today. putin also says he will likely talk to president obama on the sidelines as the climate summit in paris. once again, this is according to

the kremlin spokesperson based on reuters joompt if you're just tuning in, thank you so much for joining us here on the show. welcome back from your long weekend. hope you had a fantastic thanksgiving and black friday. here's how markets are fairing ahead of the u.s. open. we are seeing a europe of slightly mixed picture. ftse 100 is off by 0.4%. bhp has a drag because of concerns about damages coming from the brazil mining incident. xetra dax is off by half a percent. the cac 40 pushing to the tune of 0.2%. u.s. futures with a slightly higher start to the trading session. the s&p 500 up by half of 1 point. dow jones up by 21 points. once again futures were indicating an even higher start to the trading session just an hour ago. it is the last trading day of the month. the month of november.

wle let's see how the dow has fared. the nasdaq has performed a little bit better than the rest. it is up by 1.5%. for the year this is the standout performer with a gain of 8.3%. also, we have seen some outperformance of late in the russell 2,000 small caps and in the midcap index. in terms of the fear gauge, the vix, let's just check in on that. we're currently at 15.12 for the month of november up 0.3%. no major move. world leaders have been arriving at the cop 21 summit. u.s. president barack obama and chinese president xi jinping have agreed to work on the rates. steve sedgwick spoke about the

legality of any such deals on climate change at the cop 21 talks. take a listen. >> the tease will come from the quality not the legality. there's no police that coming and takes you away if you're emitting more than you said you would. in practice it will be about the peer pressure, about the peer reviewing, about the measuring, the verification and reporting and the then some naming and shaming involved but there's not going to be a question the legality in terms of the formality and how binding it is is going to be how binding because the quality, because of the consensus, not because of the legal nature. i think this is being used by some as an excuse. >> steve also spoke to jim young kim, president of the world bank who spoke about the different nations. >> i would simply continue to say, look, this is about

science. it's about ethics and it's about your children and grandchildren. i know that these politicians care about their children and grandchildren. i don't know what it is that we can do to make it any more vivid. i'll tell you, el nino is about to hit. the waters off of lima, peru, is 6 degrees above normal. in previous el nino it's been 2 degrees above normal. this will be the worst el nino in 50 years. we're starting to see the effects in australia and chile. we'll see it in california and the united states. i think as more extreme weather events hit the united states, people will begin to realize that what they're leaving for their children is something that should keep them up at night. >> meantime ban ki-moon is speaking at cop 21. we'll head out to join steve sedgwick in a few minutes' time. still to come on the show, amazon gears up for cyber monday. we have a live report from where all the action is taking place.

plus, the online retailer wants to use all means necessary to get your orders from point a to point b. a look at amazon's latest delivery drone. that's coming up next. don't go away.

welcome back to the show. wti 42.10, up by roughly .4%. for the month of november it's seen more precipitous decline of 9% in the face of a stronger dollar and supply glut. we've seen a similar story unfolding for the price of brent up today. for the month down by roughly 8%. for the gold price, it hasn't been a very good month for gold either. we're down by roughly 7.5% despite the fact that there's more easing to come from the ecb. the big one out there is of course the fed getting ready to lift interest rates in the month of december. amazon isn't satisfied with getting items to your door in two days, overnight, or even on the same day you order them. the online retail giant is unveiling the latest version of what it hopes will be the next again ner rags of the modern delivery boy. let's get out to landon dowdy. >> good morning to you.

it may be no accident that amazon unveiled the new design for the prime delivery drone on sunday during the busy holiday shopping weekend and ahead of cyber monday. amazon releasing this video on youtube narrated by top gear co-host jeremy. it's lifted in the body of the drone. it's 400 feet before flying horizontally like an airplane. amazon says the drone has a range of 15 miles delivering it in 30 minutes. it detects obstacles on land and in the air. it drops the item off at a target the landing spot. it's becoming an increasing priority for tech companies. google, walmart and alibaba are working on delivery drones while facebook aims to bring internet access to parts of the world via

solar powered drones. the faa said it expects to finalize rules for commercial drones next year. in april they granted amazon a license to test their drones as long as they fly below 400 feet. prime air could prove disruptive to traditional delivery services. they investigate amazon could break even after a year on drone deliveries. it could cost $130 million with annual costs running at about $350 million. carolyn, back over to you. >> landon, thank you so much for that. on to sports. father time catches up with the nba star kobe bryant. he announced he will retire after this season. the 37-year-old has struggled with injuries in recent years. this season has been his worst by far in his 20-year career. bryant who jumped to the pros right out of high school is third on the nba's all-time

scoring list and won five titles with the lakers, the last in 2010. odell beckham jr. strikes again. the second year wide receiver pulling off this incredible one-handed catch on the run for the giants against the washington redskins. this just the latest in the string of amazing one-handed catches which he is fast becoming famous for. it wasn't enough though for the giants who lost the game 20-14. mercedes dominated the last race of the f1 season in abu dhabi in what was a reflection of the year that passed. it was a record 12th one, two finish. the cnbc logo was unveiled on the ferrari for the first time for the race in abu dhabi. this ahead of a partnership officially starting for the 2016 season. there you go. cnbc logo. you can see it right there. these are your headlines on this monday. world leaders arrive in paris for cop 21 talks.

the national retail federation said half of the americans joined in the black friday frenzy. amazon shows off its drone technology. we'll be back in two.

putin sources saying no meeting as of yet. now it's not the key for the meeting but it would have helped soothe geopolitical tensions. i spoke with the oecd secretary general who knows mr. putin pretty well. he spent three big meetings already in the company of the turks, mr. ergogen. let's hear what he says about that and broader security. >> i hope there will be. everybody seems to be reaching out. most unfortunate event. you know, it happens when you are stretching things and bad

judgment, whatever. the question is really that should not stop us. this one is an intergenerational deal here. there's a great responsibility. events of the day. even things like the terrorism that happened in paris, and it happened in beirut and it happened in ankora and it happened with the russian plane. so we're seeing it all over. that should not stop us. this is for the next 25, for the next 50 years, it's for mankind. >> that was angel gurria. they said a lot of these problems and questions in the middle east and north africa, they are about climate change as much as anything else in terms of the fact that the climate can have an affect and of course climate and migration issues as well, which, of course, we're seeing in europe as well. a lot of these issues are here as well and everybody hoping getting a climate deal can help

alleviate problems. looking at some of the numbers from ihs and saying the tourism industry in turkey could suffer exponentially. 4 million russians went to turkey so far in 2015. revenues running $10 million plus the food imports from turkey to russia plus the talked about energy deals and pipeline deals between the two states. it is a great shame if these two continue this diplomatic rau. tensions rachet up even further. back to you. steve, thank you so much for that. black friday may not be what it used to be but u.s. consumers still hit the stores this thanksgiving weekend. the national retail federation said 52% or 151 million people shopped online or in stores spending an average of about $300. however, the group changed the methodology of its survey so it's actually harder to compare the figures with last year. now other data isn't all that rosie. retail net says in store traffic was flat. sales were down 1.5%.

average spending fell 1.4. shopper track estimates sales totals $12.1 billion thursday and friday. a projected decrease from last year. now u.s. retailers are rolling out new discounts for cyber monday. although many shoppers likely turned to the web for bargains long before today, amazon will be very, very busy today turning your online orders into physical items ready to be shipped. and courtney reagan is live this morning at a very busy site in southern new jersey. courtney. >> reporter: hi. good morning to you. that's right. i am at one of amazon's fulfillment centers where orders are virtually picked and packed nonstop. retailers competing for today's shopper, amazon is really the one to beat. this facility covers 1 million square feet and employs 4,000 employees during the holiday season. gearing up to pick and pack and send those orders coming up on cyber monday. in years past cyber monday has

been an important time. hoping to catch additional sales. the tide has begun to change. with black friday like discounts online and in stores days before the thanksgiving weekend, plus shopper access to high speed internet all the time, cyber monday is starting to feel more like an afterthought. this year walmart's cyber monday sales started sunday aiming to drive purchasing earlier. office depot deployed a similar strategy for cyber sunday. they estimate 121 million people will shop online today. it is down from 127 million last year. and 57% of u.s. consumers started their holiday shopping before november 10th according to the survey. that is the highest number that that question has ever answered. 77% of americans have begun shopping by the black friday weekend. adobe is expecting online sales to surpass $3 billion for the

first time on this cyber monday. that is a 12% increase over last year. keep in mind adobe also says americans have spend $4.45 billion online on thanksgiving and black friday alone. so while today will certainly be a very busy day for amazon, it may not end be up being its busiest day of the year for sales. back to you. >> courtney, thank you so much for that. now this is a great one. the bill your true love gave to you says the items in the 12 days of christmas song will cost $34,131. that's up 0.6%. they've tracked the cost of the christmas carol. the 11 lords a leaping are 3% higher while the partridge in a pear tree and the two turtle doves rose 11.5%. wow. the most expensive item, the seven swans a swimming have over $13,000. okay.

let's take a quick peak at the european equity markets have seen a bit of a reversal. we did start out in the red and now turned around the xetra dax, cac 40 and ftse mib are showing healthy gains. 07.3%. the ftse 100 down by many of the mining stocks. u.s. futures are looking like this. we are expecting slightly higher start to the trading session. the s&p 500 seen by 1 point. the dow jones by 25. the nasdaq up by roughly 6 points. this is after the s&p had little change on a shortened trading day on friday. shrugging off the volatility of the trading markets. volumes were pretty low. let's get out to ben lick ten stein. joins us from chicago. hope you had a great break. ben, what are you watching out for? we have the ecb, nonpharm payrolls report. opec. so much to deal with. what's most important to you? >> a lot of information, as you

mentioned. i'm really focused on the dollar right now keeping track of how the market reacts to yellen. all of this is in anticipation leading up to the f1c meeting to come. the overly awaited, much anticipated and you know depending on how you look at it depending on much needed rate hike from the f1c. unfortunately there's a lot of speculation about it. but the real focus seems to be on the dollar. there's some housing data out today. there's some manufacturing data out today but for the most part as you mentioned the s&p is kind of little change in terms of recent activity, volatility has been somewhat limited and range round type activity for the most part. if you look at the s&ps on the year that's again somewhat reflective, if you will, of what we've been seeing. we'll be keeping an eye on it. i think the focus again is the dollar. >> once again you do mention the dollar being the pivotal part here. dollar yuan positioning is at an

eight month high. do you think we'll see a little bit of a selloff as we head into the december fed meeting? >> i think we could see some kind of repositioning if you will for the most part. i think sentiment is still that the dollar is the best investment, if you will, across the board in terms of us seeing currencies being devalued and the recent activity in the euro currency. the euro is at a key level testing support basically from the year, 2015. if we were to breach that level it would mean that it would be seeking value lower which could bring about some energy and volatility to the down side. so, again, the dollar right now, the euro currency at a very pivotal level. for the most part though if you look again over most of 2015 very much range bound. just at extremes right now of that range. >> ben, are we going to be seeing a santa rally or not as we've seen in the month of november? major averages haven't really done anything. >> well, that's a great question. i think you could say in some ways we've seen a santa rally.

with the activity that we've seen come into play off the late august lows, the recent activity in terms of the nasdaq posting into the new 2015 highs. i think the focus and the kind of last piece of the puzzle, if you will right now, is the small caps, the russell. the russell has been terribly lagging behind the other three major indices, the dow, s&ps and the nasdaq on the year and over the last few months the russell didn't really enjoy the bid that we saw coming into play in the other three major indices. the russell has been stagnant, kind of stuck in the range bound type activity. basically holding above the late august lows but below mid september highs. so the russell does not want to participate. i think that's kind of the missing link. we're going to need the russell to get that quote, unquote, santa rally. yes, if you look at the nasdaq it's on new 2015 highs this fall. i think it already participated in the santa rally. as we already mentioned, the s&ps are very much range bound right now. >> that's a good point. ben, thank you so much for that. ben lichtenstein.

let's give you a rundown of what to watch this trading day. the november chicago pmi is out at 10:00 a.m. eastern. expected to slip from october but still remain at levels consistent with growth. also at 10:00, the national association of realtors releases october pending home sales which are expected to have rebounded after a sharp decline in the month of september. and from paris, leaders will begin giving their speeches at the 2k07 1 climate change summit as well as a number of bilateral meetings on the sidelines of that event. once again, there will be no meeting between russia and turkey. this is what reuters sources have been saying. and this meeting was repressed after the downing of the russian jet last week. that's it for today's show. i'm carolin roth. next up, "squawk box" u.s. see you tomorrow. pi bye. it's hard to find time to keep up on my shows.

that's why i switched from u-verse to xfinity. now i can download my dvr recordings and take them anywhere. ready or not, here i come! (whispers) now hide-and-seek time can also be catch-up-on-my-shows time. here i come! can't find you anywhere! don't settle for u-verse. x1 from xfinity will change the way you experience tv.

live from new york where business never sleeps, this is "squawk box." good morning. welcome to "squawk box" right here on cnbc. i'm andrew ross sorkin along with joe kernen. becky has the day off. it wasn't long for her, long for us. productivity seems a little lower than normal at the office this morning, you have to blame online sales. unlike past years, it seems as though americans didn't wait for cyber monday to buy online. the national retail