hi, everyone, and welcome to "on the money." i'm kelly evans in for becky quick. ready, set, shop. heading to the mall has become a holiday tradition, but this year you may see a closed sign instead of the sale sign. why the clock may be turning back. the president-elect and your money. what could change with a trump administration and what should you be doing differently. saluting america's veterans, programs to help them succeed in small business, and why they have a good chance of making it. just like in war, it's completely unknown. and turkey day is just a few weeks away. we have some money-saving tips for your feast. "on the money" starts right now.

>> announcer: this is "on the money." your money, your life, your future. we begin with thanksgiving. it's not that far away and it's always been a family holiday spent around the table. but in recent years, shopping has become part of the tradition, too, as retailers move their friday blockbusters to thursday, could that trend start to reverse now? >> reporter: after a multi-year trend of stores opening earlier and earlier, some are reversing course, closing on thanksgiving. the country's largest shopping center, minnesota's mall of america, and 72 regional malls, operated by cbl and associates, say the decision to close on thanksgiving is to give employees the day off. but experts say, that's not the full story. >> even if you don't believe that those sales are incremental and profitable, as a retail ceo, you may still decide to stay open on thanksgiving day, because you don't want to give up that market share to one of your competitors.

>> reporter: shopper track, which measures sales and traffic in retail stores, says data from stores open on thanksgiving, the last five years, shows it doesn't necessarily improve overall holiday performance, but rather, redistributes purchases. retailers' turkey day dilemma isn't lost on consumer. >> if two stores do it, they're only getting half of that profit the last store did last year. it gets smaller and smaller for every store. >> and when it comes to shopping on thanksgiving, consumers are conflicted, too. >> we should be respectful of the holidays. people are working long hours. they should be able to enjoy time with their family. >> the year i left old navy was the first year they opened on thanksgiving, and that was a major reason for me wanting to leave. >> but now that she's able to shop. >> i really shouldn't, because as a retail worker, i was really upset about having to work thanksgiving, but sometimes the deals are so good, i have two little kids now. so i hate it, but i love it. >> reporter: many retailers ask for employees to volunteer to work first. and not every retailer stays

open. nordstrom's, gamestop, and t.j. maxx are among those yet to hold thanksgiving hours. for stores that are open, overtime play and additional employee incentives like discounts and meals add to expenses. but in the race to capture market share both in store and online, moat retailers calculate it's worth it. if no one shopped, stores would close. but 35 million stores opened last year. >> is it possible the increase in online sales is part of why people are changing course? >> it's possible. but last year on thanksgiving day, $2 billion was bought online. it's a lot of money, but very small compared to what's done in stores. cybermonday is still the biggest online shopping day. >> which is the monday following all of this madness. thank you, courtney. an increasing number of retailers are closing on thanksgiving. and major mall developers cbl and associates will close 72 shopping malls in 28 states for the holiday and will reopen at

6:00 a.m. on black friday. steven lebovitz is president and ceo. so you were open on thanksgiving, why close this time around? >> we looked at it last year, and we decided this year that it was the right thing to do for our employees, for our retail partners, and for our communities. we have 1,500 cbl employees, almost 100,000 stores across our portfolio. >> what's been the reaction since this announcement? >> the reaction has been incredibly positive. we've gotten calls, e-mails, social media. the customers, the shoppers, the community, everyone has supported us. they feel like it's the right thing to do. they're appreciative. they say, we'll come to your mall on black friday. we don't want to shop on thanksgiving. we think this is a great thing. >> and you must be hoping they do so, because your exerts, including general grove and simon mall operators will be open on thanksgiving.

people may be able to just go there. >> that's true, but a lot of our malls are the only mall in their market or in their community. so we're not competing with other malls, per se. and the communities feel strongly that this is the right thing to do. we've gotten that support. so we don't feel like we're putting our retailers at a disadvantage. in fact, we polled the retailers before, and they were supportive of this. they really felt like their employees deserved the day off and they wanted to see this happen, as well. >> and could some of your anchor property stores, like a macy's, which have external days, could they open on thanksgiving or earlier on friday if they wanted to? >> yes, they can and they will, and that's their decision. but the interior mall portion, the specialty stores, those will be closed, and that's where most of our business is done. >> what do you think the effect has been of online shopping, which, as courtney mentioned, is still part of sales overall, but every year, it is growing. >> it's growing, and i think what happened is, the opening on thanksgiving was a knee-jerk

reaction to online shopping when it was first growing. but now retailers realize that online shopping is part of the overall shopping experience. and it's not a threat. it's combined and people buy at home and they pick up at the store and buy online and return to the store. they see it all working together. >> as much as we want thanksgiving to be sacrosanct for families, some will argue that people who can make time and a half or two times their typical wage by working on a holiday, doing so part of the day and still spending time with their family do benefit from having that option. what would you say about the ability for your workers to earn more if they work on thanksgiving? >> we haven't heard that. we've gotten the support from workers, how much they appreciate getting the day off. how there's so few family days that are out there anymore. and that thanksgiving, it really is special. >> so is this a permanent decision, if your numbers aren't there, will you continue to be able to stay closed on thanksgiving? >> so we look at the data, we look at the numbers this year before making the decision. actually, last year we

considered it. and we're seeing that the dollars are just spread out. the staple dollars over a longer period of time. that doesn't mean that it's forever, but for this year, it's definitely the right thing. look at retailers and roughly 50% are closed and 50% are open. i don't know what the trend is, but i know for us, it's the right decision. >> your properties include up with of my favorite malls growing up, the valley view mall in roanoke, virginia. we'll see if the community can wait it out until friday. steven, thank you very much for joining us. here's a look at what's making news. it's being called the trump rally. the dow jones industrial average closed at a new record high on thursday. it's the third straight gain since the election. big financial companies climbed on hopes of more regulation. but the tech-heavy nasdaq was painted with a different brush, falling on thursday, after showing strength earlier in the week. stocks were mixed on friday. toyota may start mass producing long range electric

vehicles. the cars could hit the market around 2020. that would be a big change for toyota, which has promoting hybrids as an alternative to gas-powered cars. the company will launch a plug-in hybrid version in the coming months. >> there's going to be a big sale at macy's, but it's probably nothing you can buy. the company struck a deal with brookfield asset management to complete development plans for parking lots around stores and for stores which it is closing. it's all part of an effort to unlock value as the company fights online competition. >> well, the world certainly changed this week with the election of donald trump, but should your approach to your money change along with it? whether you're saving retirement or for your kid's college, what's different now with president-elect trump? joining us now is david kelly, chief global strategy at jpmorgan funds. thanks for being here. >> glad to be here. >> we have a new president-elect, a republican house and senate. should this change anyone's approach to their money? >> yes, i think people should

take a look at how they're positioned here. this does change things a bit. i don't think people should be too scared. i don't think we're going to see a full-blown trump policy here. i mean, he said a lot of things on the campaign trail, which if he fully implemented could be quite damaging to the economy. but i think both the desire not to put the economy into recession and the desire not to do things which are too painful for voters on the part of congress, i think that means you'll get sort of a trump-lite set of policies. but the one thing that all these policies seem to have in common is they could push up inflation. if you have somewhat higher tariffs, more infrastructure spending, lower taxes, you can have higher inflation. so i think you should tilt the portfolio a little bit towards benefiting from higher inflation, rather than getting hurt by higher inflation. >> well, what about interest rates? they've been climbing since the election and should that change the way savers think? >> yes, it does give you a better return on savings, but still interest rates are very low if you got a ten-year

treasury yield at a little over 2%, the core underlining inflation rate is a little over 2%, so you're getting 0% in real terms. so even with the rise in interest rates since the election, interest rates are still very low. but i think looking at it more broadly, people have to be a little bit more nervous about the bond market, with interest rates potentially going up further. and also, i think the stock market would do quite well in an economy that's growing a little bit faster because of a lot of government stimulus. >> donald trump has also publicly said he's not a fan of federal reserve chair, janet yellin. what do you think happens with the fed and what are the implications? >> i think a lot of that depends on how janet yellin feels about things. first of all, donald trump cannot, even if he wished, fire janet yellen. that is not among the powers he will have. her term is up in 2018. the question is, will he reappoint her. she could, of course, resign, if she didn't want to be part of the federal reserve, if they had a big disagreement, but i don't think that's what she'll do. and besides, when donald trump

was criticizing her, he was really criticizing her for keeping rates very low, in a way that might have helped his opponent. now, he may actually need her to keep rates low if he wants to cheaply finance all his rising deficits. >> david, if you have a plan already when it comes to your money, what changes now? >> i think, the first thing is make sure that you're not too overweight bonds or things like reits and utilities, which have high yields, but are quite sensitive to rising interest rates. and the other thing more broadly, make sure you have enough international exposure. i know the u.s. has benefitted this week from the perception that a trump presidency would be good for growth and push up inflation here. but in the long run, the u.s. is running out of room to grow. we don't have enough workers here. and in fact, a more stricter policy on immigration could make that problem worse. and because of that, i think people need to have money not invested just in the united states, but also around the world, in europe and in merging

markets, where there might be more room to grow in the long run. >> david, thanks for joining us. >> anytime. up next, we're "on the money." vets go from the front line to the bottom loon. how they get help to start their own business. and later, if turkey is on your thanksgiving menu, tips on how to budget for that big meal, so it doesn't gobble up too much cash.

this week, we observed veterans day. a time to honor those who have defended our freedom. some folks are showing vets their appreciation by advising them in the next chapter of their careers. 25% of those leaving active duty want to run their own business. we met some of the veteran entrepreneurs, as well as the folks dedicating their time and expertise to support them. >> we went up and down a highway, inspecting the road, see fg there was anything out of the ordinary. >> reporter: army sergeant raymond went from helping clear

improvised explosive devices from afghanistan's road to trying to navigate another territory also foreign to him, the business world. >> just like in war, it's completely unknown. >> reporter: he founded a company called film linkup. >> i can send messages to different people. it's supposed to be a social media platform for people in film, media and theater. >> our main focus is connecting the students with who they need to be part of their crews and those production companies that need their assistance with their film and media start-ups. i think the hardest part has been continuing to navigate in a sea of the unknown. >> but for raymond's and a dozen of other start-ups, navigating those unknown was made easier with the help of peek like brock pa san, a former military prosecutor himself, who now gives legal advice pro bono to veterans who want to start their own business, through their new york-based law firm. >> we're there to bridge that gap between the legal and business side of things.

>> what do you think about the schedule? >> 20 years as a physician in the military and i retired as a lieutenant colonel. >> linda brown who opened a soul food cafe in no, just a few months ago was also able to take advantage of those services. >> they really led us and guided us through the maze of all of the legalities of opening up a business. >> according to the small business administration, nearly one in ten small businesses in the u.s. are veteran own, generating over $1 trillion in sales. veterans have also about 45% more likely to be self-employed than nonveterans. >> veterans have so much to bring to the economy and to the workforce. law firms, consulting firm, accountants can bring one on one technical advice to veterans who are starting new businesses. >> linda's advice for veterans looking to take on a new challenge after transitioning to civilian life? >> you have to have a really good business plan, stick to it. you can do it! you can do it. you really can. yes. >> veterans were given counsel on everything from drafting

articles of incorporation to following all appropriate laws and procedures when setting up shop. those advising say who better to know the benefits of hiring the next generation of vets than veterans themselves. >> barb carson is a colonel in the u.s. air force reserve with more than 20 years of military experience. she's also the associated administrator for the office of veterans business development for the small business administration and she joins us now. barb, thanks for joining us. >> good morning. thank you. >> so what advice do you have for veterans who are currently serving or back at home who want to start their own businesses? >> now is the time to do it. the small business administration is ready to help by mentoring you in your hometown and get you launched. veterans make excellent business owners and we've got the resources to help you go. >> what are you hearing from vets? how ready are tla? >> they're incredibly ready from what they've learned in the military. if you think about it, they very entrepreneurial already. they absolutely have plans for

what objective they're going to try to achieve while on duty. and it's inevitable, you'll find bumps on the road on the way to achieving that objective. it's staple in the business world, and we have the most agile, persistent people who have served in the military and are ready to go on in business. >> what kind of help or support is most important to them? is it financial, is it advice? is it just simply being able to speak with somebody else who's already been through this? >> you make a few good points and all are essential. but first, it's important to realize that being a business owner is a team sport. it's easy to find help that is free. and access to capital, getting money, it's a challenge. and we can open pathways to get that money. >> and what about veterans who aren't sure if they are qualified to do something like this. what skills do they bring to the table in starting a business? >> persistence is absolutely something you're going to need in business ownership. and i also appreciate that they are willing and able to seek help when they don't know the answer. and that can save a business. they're also looking out for

team members on their left and right, as they have done in battle, they will do it on the business world side, as they hire people and really are invested in their employees, creating bigger, more successful companies. >> barb, thank. barb carson of the small business administration. up next, we're "on the money." 46 million turkeys will be on thanksgiving tables this year. how big a bird will you need to have enough for everyone with some leftovers, too? honey, aren't we having friends over? it reeks in here.

i know [goat noise] i stole the other team's mascot for good luck. we need to wash this room. wash it? yeah, wash it with febreze. for all the things you can't wash, use febreze fabric refresher wow [inhales] it really smells great in here. dog barks and try pluggable febreze, with up to 4 times the freshness in one refill. pluggable febreze and fabric refresher [inhale + exhale mnemonic], two more ways to breathe happy

with thanksgiving just around the corner, americans are expected to fork over more than $1 billion on turkeys alone. and since november is the month before the biggest holiday season of the year, it's also one of the most expensive months for credit card holders. so how can you have a fabulous meal and stay on-budget? joining us now is dawn perry, the food director of "real simple" magazine. welcome, dawn. >> thanks. >> so in most homes, turkey is still the centerpiece of the main meal. is this where people should save big or spend big? >> you should invest in the turkey. this isn't a time where you should sell out on a ton of money for premium ingredients for every recipe. a pound of organic butter could cost 8 bucks, but likely getting lost in the stuffing. so invest in the main attraction. >> and how big should that be? >> a 12 to 14-pound turkey

should be 8 to 10. >> any tips on getting a good deal? >> there's a lot of great birds out there you can source. you might want to look into a heritage breed board, organic or free range or hook up with a local farmer. >> and it's not just turkey, how can you get a good deal on a lot of the sides you're picking up trying to go through the supermarket. >> it's really important to shop seasonally, all year round, but especially now. a lot of us have that classic green bean casserole on the table, but green beans are actually at their peak in high summer. so what we want to do is focus ton ingredients that are at their peak right now. that means winter squash, dark, leafy greens like kale or swiss chard, brussel sprouts, that sort of thing. >> one thing is just to be organized. >> you can't figure out where you're going until you take stock of where you are. first thing you want to do, make a menu and decide how many people you're going to feed. and then you'll want to make a list and stick to it. >> and what about vegan or

vegetarian options, if you are somebody like that or have guests like that? >> lots of folks are happy with just the sides versus a turkey, but it might be fun to use one of these new centerpiece vegetarian meals. there's lots of like vegduckens, which is like a sweet potato in an eggplant in a butternut squash. so make it special. >> and any tips on what must be on the table, as far as you're concerned? >> i think the obviously, the turkey, the stuffing, the gravy, but i can't live without rolls. i, too, love bread. so buttery rolls, perfect for scraping through the gravy and cranberry sauce. >> but don't have to make it from scratch? >> absolutely not. >> thanks for being here. >> up next "on the money," a look at the news for the week ahead, but first, a look at how the stock market ended the weak.

for more on our show and our guests, go to our website, otm@cnbc.com. and you can follow us on twitter. @onthemoney. back in 1972, the dow jones industrial average closed above 1,000 for the first time. on tuesday, we'll see how the

consumer is doing when retail sales for october are released. on wednesday, we'll get a measure of wholesale inflation with the producer price index. thursday, it's a check on the housing market with housing starts. and on friday, happy birthday, mickey. disney's favorite mouse made his debut in 1928, with the movie steamboat willy. look out for special celebrations at the parks. that's the show for today. i'm kelly evans in for becky. thank you so much for joining us. next week, the science of a perfect pour. the inventors of fizzices say they can make any pocanned beer taste like a draft. have a great week. we'll see you next one. this roo. wash it? yeah, wash it with febreze. for all the things you can't wash, use febreze fabric refresher wow [inhales] it really smells great in here.

dog barks and try pluggable febreze, with up to 4 times the freshness in one refill. pluggable febreze and fabric refresher [inhale + exhale mnemonic], two more ways to breathe happy

hey, there. did anything happen this week? we are live at the nasdaq market site on friday afternoon. the gang, including special guest, guy adame, they're getting ready and while they're doing that, here's what's coming up. >> sums up what happened with bonds this week, but there's something in the charts that suggests now might be the time to buy. we'll explain. plus -- >> there's no place like home. there's no place like home. and with home builders surging, there's one stock traders see having a huge move next week.