good morning. the black friday mania is in full swing. markets now. oil prices slipping as investors wait to see what comes op next week's opec meeting. scores and more. if a food coma put you out early, a roundup of the big football games. it's friday november 25, 2016, "worldwide exchange" begins right now. ♪ good morning. welcome do "worldwide exchange."

i'm sara eisen. >> i'm wilfred frost. yesterday was thanksgiving, today means it's time for holiday tunes. >> is this your first black friday in the states? >> it is, indeed. my first thanksgiving. >> are you going shopping? >> i am. i'm buying a new laptop. >> there you go. stock trading volume typically on this day half the level from standard trading sessions. here's what time the markets close. the new york stock exchange and nasdaq will close at 1:00 p.m. eastern time. the bond market closes at 2:00 p.m. eastern. commodity and currency markets observing the holiday and have a shortened session. here's where futures are trading. closed on wednesday at another record high. it looks like the gains are continuing. earlier this morning the futures perking up. dow futures up 60 points.

higher yields as well. we reached 242 i believe it was earlier in the week. that was the highest level in years. >> the dollar particularly strong on wednesday. we just pulled back a bit over the last couple sessions for the dollar. the u.s. equity market, a record close for the dow. intraday, we didn't hit a day, the nasdaq pulled back a fraction. european trade today is a bit soft. well, basically flat now. germany, france, italy eking out gains. ftse 100 and spain just behind. asian trade was decent. we had some data out of japan showing improvement in cpi, despite the fact it was still a deflation headline print. the nikkei is, in fact, off the highs today. just showing hong kong and shanghai up.

some yen strength has meant it pulled off the highs of the day. oil prices this morning, let's look ahead of the key event risk next week. on wednesday is that opec meeting. wti down to 47.63. it's off by 0.7%. brent 48.58. gasoline under pressure as well. the dollar has been the story. running up yesterday in european trade to a 14-year high. the euro is firmly below 106. 105.95. it's getting stronger, so that dollar strength is taking a pause this morning. but that is certainly the theme as the fed hike in december is a near certainty. economic data looks solid and you have this enthusiasm about the domestic economy under president-elect trump. dollar yen still above 1.13.

the pound strengthens starts 1.25. gold should be getting a bit of relief after the dollar strength hurt gold. >> so dollar, bond yields taking a pause from the recent run up. >> and equities are strong this morning. just one piece of economic data, the advanced report on the october trade deficit out at 8:30 a.m. it's one of the most important weekends of the year for retailers. according to a survey by deloitte more than three quarters of american consumers plan to do some sort of shopping between thanksgiving and cybermonday. courtney reagan is live from the mall at fairfield commons in dayton, ohio, taking the pulse of shoppers out in the midwest. what are you seeing? >> that's true, it's very

convenient. i did get to be home with my family in ohio, i also went to a target, walmart and best buy store last night, the crowds were decent and the carts were full. the target ceo says he is pleased with response in stores, calling it overall positive. he said target shoppers in store and online did come in for hot items, something like a hover board which sold out quickly, but also added other items to carts. apple products, games systems, toys, and the dyson hoover vacuums were some of the top products. the $10 bear sold out quickly. i did see a lot of leftover fitbits and jbl speakers. this may be a record day for sales. traffic and sales were up double digits. thanksgiving day is also one of

walmart's top selling days for the year. walmart's top sellers included tvs, video games, drones, toys, pajamas. the walmart store i visited had about 200 people in line and checkout took about 15 minutes. most of the carts were full with a lot of variety. here at the mall, it has been open all night. the shoppers we're seeing here are a lot of the millennium shoppers, there are some families coming through. i expect to see the traffic begin to pick up around 9:00, 10:00. now that we have the stores open on thanksgiving, you see the first wave then, folks go home, rest, and then come out and hit the mall stores friday morning into midday. >> so there's this enthusiasm, i hear it from you and some of the anecdotal evidence about the

consumer going into the holiday season. who do you think is best positioned or needs it most? i know you cover all the department stores, the big box stores, the dollar stores, who do you really think is the key to watch this holiday season? >> i think the department stores need to see a good season. so that includes macy's, nordstroms, jcpenney. jcpenney did open doors at 3:00 again this year. it's possible they took shom share. jcpenney also has appliances now, and marvin ellison says those are big purchases made on a big friday because of the deals and people wanting to have their kitchens and washing machine rooms up and running for the holiday season. so jcpenney could use a good holiday, macy's, too. last quarter the quarter for target was bumpy.

so a good holiday season will set them up well. >> courtney, thank you very much for that. >> thank you. we'll december discuss retail more broadly. we are joined by stacy widlitz what are the initial takeaways from the first couple days of trade, online versus bricks and mortar? >> i think the main takeaways here are that it's all about online. that's where the growth is. so far it looks like double digit growth online. and i'm expecting traffic in stores this year again to be down mid single digits. i think the winners here are the ones saying to the consumer we will not discriminate between deals online and in store, we'll give you both. that includes target, kohl's, walmart. so the ones making that happen for the customer will be the

winners. >> is there a price war going on as all the box stores try to attract online shoppers and compete with amazon? >> absolutely. every year there's a price war here. particularly for target. they offered just 15% off on this coming sunday and monday. that's a great sign. everybody is offering free shipping. this year, when you just thought we hit peak black friday, we haven't. walmart and target average prices are down mid single digits today. so i think we're there, and we just haven't hit it yet. >> is this an easier period for the online retailers to deal with in terms of extra staffing, dealing with the volume in is it just as trekicky to take care o online traffic trends? >> everyone's challenge is trying to figure out how to staff up and what kind of logistic infrastructure you need. for the brick-and-mortar guys, i

think the challenges are how do they use their stores as distribution and how do they use sales people when they're idle to pack boxes and ship things from the stores. it is a challenge because you don't know what the mix of penetration will be for the brick-and-mortar guys, and it's a lower gross margin for them it hurts profitability. >> i think before the election we were talking about the retail doom and gloom, apparel spending has been soft all year. department stores, specialty retailers, we got a glimpse of it in the urban results last week, which i know you and i were talking about. there has been a run up lately in retail stocks. is it justified? has the tide turned? would you be a seller? >> here's the deal, the rlx is up 8% since the election. some of these stocks are up 20%. why are they up this much?

inventories are in line. that's great. that's helping gross margins. it's much better than it has been over the past several years, now we need to see that top lineuations where they are now. i would be cautious. as that mix to online continues, they will grow profit. >> great stuff. thank you very much for joining us. >> good to see you. coming up, a deeper dive into this week's surge in the u.s. dollar. it's been the story of the week in the markets. will it be the force that could stop the markets rally? >> first as we head to break, here's what it looks like at the mall at fairfield in ohio, bck friday. we're back in a couple minutes.

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welcome back to "worldwide exchange." let's show you what futures are doing. they're strong this morning in terms of u.s. stocks. dow futures up 58 points, s&p up 2 1/2. nasdaq up 4. this comes after another record close for the dow. it's been a string of records for all three major averages over the past few sessions. and the small caps joining in on the rally. we have oil prices, that has been a big theme as well. strength in oil helped support this rally lately. backing off a bit this morning. something to watch into the u.s.

trading session >> still up 4% for the week. >> off now about three quarters of a percent. wpi, 47.60. the stock market closes today at 1:00 p.m. it's a holiday-shortened trading day. the u.s. dollar is backing off but still trading near a 14-year high. there's the euro, a bit stronger this morning at 1.0594. that's been the center of the action. joining us is kit jukes. thanks for joining us. >> good morning. >> does this dollar rally have more room to run? >> i think so. you know, i would be -- it's going faster than you might have expected. days like today, a quiet day when people are apparently seeking out black friday bargains we may have to pause for 24 hours. we made another high for this move in real yields on inflation protected securities overnight.

we reached the same level at dollar/yen back in march. as yields go higher, we take the dollar up. >> we're regular readers of your morning note. we get the sense from that that you actually think the euro is due quite a significant rally, but various political factors stop that from happening. is that a fair summation? >> i thought it would -- you know, i was surprised by the extent of political contagion and concern about the european and political outlook after the u.s. presidential election. maybe i shouldn't have been surprised. i'm now left in position where i can't see who will buy the euro this side of -- certainly not next weekend's italian referendum but probably until the french election next may, i think we can see down side. in valuation terms, we're pretty much done. that's all political overshoot unless we get one of those

populous surprises in europe. then the danger is to the upside in euro. all of that euro strength has been postponed by politics, which is now more important than economics. >> i wonder if the pace of this dollar rally, which is going to start to get painful for corporations again. we've seen how much that strong dollar can hurt u.s. multinational earnings. i wonder if that will cause the fed to have a more dovish tone if they raise interest rates in december and slow the pace and the forecast for tightening next year, and that could stop the dollar run. is that what you expect? >> yeah, i'm not sure if it happens that fast in terms of that, but there is a point. no one is talking about financial conditions indices or what's the overall state of it much everyone is talking about higher inflation, and if the dollar goes on fast enough they'll have to soften some of that talk. if this goes fast enough, i don't know that december changes

much. december will get a similar run to last year, rate hike with the fed not giving the impression they're finished but still we'll see where markets go. the danger is we may get the peak in dollar way earlier than we thought. not necessarily at different levels. i thought dollar/yen would reach 1.20 by the end of the year. we could be there by christmas. >> maybe we should go to tokyo instead of italy for shopping. kit juckes, thank you. coming up, how donald trump spent his thanksgiving. before the break, here's today's national forecast on one of the busiest shopping days of the year from the weather channel's kelly cass. >> it's black friday, a lot of folks hitting the balls, the shopping centers. they'll be doing that with the umbrellas in some parts of the neefrt. still some rain drops in new

york city, especially in the afternoon. highs in the low 50s. in click go, cloudy skies, 43. for the mall of georgia. a few showers south of dallas. a few showers possible down towards miami, high of 80 degrees. another storm system, the latest one in a parade of storms hitting the pacific northwest, keeping your temperature down to 50 degrees in seattle a good looking day in l.a., 76. mild temperatures throughout the south, 60s to low 70s in atlanta. that's a look at your national forecast.

welcome back. donald trump says he was working hard on thanksgiving day to keep another u.s. manufacturer from moving production to mexico. trump tweeting he's trying to get carrier air conditioning company to stay in indiana says he is making progress. will know soon. earlier this year carrier announced they were moving their furnace plants from indianapolis to mexico taking 1400 jobs. trump made several references to carrier during the campaign. saying if it moved to mexico the company would be paying a hefty tax on imports to the u.s. carrier confirmed they had talks with the administration but nothing to announce at this time. also trump reports that he did talk with apple's tim cook who trump went after a lot on the campaign about moving manufacturing to the u.s. >> not for tapping him up for

certain jobs. >> no. house democrats are warning federal investigators that president-elect trump might give deutsche bank special treatment. specifically they are voicing concerns that he might insert himself in talks about t-- efrn we tried to ask for information says that is confidential. it is thought deutsche bank is a big lender. interesting that certain democratic lawmakers are making sure this is an issue so he doesn't get involved in the doj settlement. back to the markets. on the question of the banks, they have really lit up since

the election, been the brightest sector. does that bank rally continue on this idea that maybe regulation will roll back, the yield curve is steepening, the fed will raise rates and the economy will pick up. >> i think previously the financial services stocks across the world were troubled by low and flat yield curve, by overregulation, skepticism by investors. now a lot of those head winds are starting to fade. most houses, ourselves including, we believe we will have a december rate hike. we have a steeper treasury curve and more importantly and policy-wise with donald trump's potential reduction of dodd-frank or dismantling of it, as has been quoted, of course you have increased profitable questions for u.s. financials, perhaps some of that is bleeding into the european financials who may have cross-border benefits

of that dismantling of dodd-frank. >> we've been focused on the fact that the overall market hit record highs. are we missing the point that it is factors like the financials which are propping up the market as a whole? if you dive into it, is this rally a little less broad than perhaps the headline grabbing record closes might suggest? certainly. if you look at the breakout of the pre-election to post-election few weeks, it's just three sectors that are driving the index higher, financials, industrials, based on the boom that trump is putting on the table, and healthcare. those three sectors have been the primary drivers of the s&p 500. the others are just kind of

bobbing along. >> is there any other market in the world to buy other than the u.s. after the trump win? europe has not participate in the rally. anywhere else to go? >> i think the japanese equity market can benefit from a weaker yen to the dollar you know the correlation between the nikkei and topix versus the yen rate versus the dollar. i think in general for longer term investors as we speak to quite often, any dip or selloff in emerging market equities is the time to pick a few if you have the medium to long-term horizon. >> thank you very much for joining it's. great to have you with us. moving on to sports, football fans were treated to three courses of nfl games on thanksgiving. the detroit lions hosted the

minnesota vikings. the score was tied, with less than 40 seconds left when sam bradford's pass was intercepted. the lions beat minnesota, 16-13. the late afternoon game featured washington traveling to dallas to take on the cowboys. check out this catch by terence williams. sara enjoyed that one a lot. i can tell. >> my newest thanksgiving tra dig, watching football. >> did you watch football a bit? frnlg>> a little. >> in the night cap, the steelers were in indianapolis to take on the colts. it was all pittsburgh with antonio brown leading the way with three touchdown receptions. the steelers beat the colts, 28-7. eyes blindfolded, you could have summarized it. >> you did a pretty good job. shoppers around the country

are lining up to catch the door buster deals. more on the madness and how good those bargains are straight ahead. >> not quite lighting up judging by this.

good morning. black friday mania what some of the iconic retailers are doing to get customers in their stores on this all-important shopping holiday. after blasting through 19,000, the wall street setup shows another record setting day

could be on tap. >> it's friday november 25, black friday, and you're watching "worldwide exchange" on cnbc. ♪ >> good morning. >> we should do a cover of this song. >> no thank you. i'm sara eisen. >> we can lip-sync it. >> that's what i mean. >> it will be nice, when the snow starts falling by the stock exchange. >> get used to the holiday music. >> i like it. i'm a big fan of it. >> do they have black friday in the uk now? >> we do now. we brought it in recently to copy. but it gets disdain from shoppers. people are like this isn't our shopping holiday. boxing day is the big day. >> it's like us celebrating boxing day, which we don't do. today is a holiday shortened

trading day. >> i didn't get to introduce myself. i'm wilfred frost. >> stock trading volume is typically half of its level from a standard trading session. the new york stock exchange and the nasdaq will close today at 1:00 p.m. eastern. the bond market closes at 2:00 p.m. eastern time. commodities and currencies also have a shortened trading session. as for the u.s. equity futures. dow futures are up 59 after closing at a record on wednesday. s&p 500 futures are up three. nasdaq futures are up six points. as for the early action in european trade, yesterday was sort of a flat day in europe with the u.s. markets closed. we are looking for strength from the u.s. equity markets. asia quickly overnight, what we saw, the japanese stock market has been particularly strong lately. the nikkei closing up a quarter percent. those exporters loving the weaker japanese yen on top of

the stronger dollar. we saw bombay, india, their stock market close up 2%. >> a look at the broader markets. oil prices looking pretty for the week as a whole. set for a second week in a row of significant gains. up 5% last week. up 4% this week. today everyone is focused on november 30th, wednesday next week for the opec meeting. will they actually deliver on the production cut that's been priced in over the past two weeks? ten-year treasury note, 2.375. back below 2.4 today. we crossed 2.4 on wednesday when we had stronger durable goods data, jobs numbers as well. we have come off those highs over the last 24 hours. clearly, significant gains in yields over the last ten days or so. let's look at the dollar. that hit a 14-year high yesterday and on wednesday.

but we're seeing profit taking from the dollar bulls today. the euro up 0.3 pf%. just a bit of dollar softness. gold prices, the main sufferer from trump's election victory, just below flat. $1,186. jcpenney is betting big. the department store has already been open for a few hours, starting 3:00 p.m. yesterday. morg morgan brennan is at a jcpenney in garden city, new york. good morning. >> good morning. hope you guys had a good holt day yesterday. take this scene in around me. this store has been so busy overnight that the store staffers have not been able to keep up behind the consumers to clean up. you can see that here.

you have boxes, merchandise strewn about. if you come down this aisle, more stuff thrown on the ground. this is a scene played out on three levels of this department store, one of 1,100 jcpenney locations around the country which had been open since 3:00 p.m. yesterday. that 3:00 p.m. opening time makes jcpenney the first of the major retailers to have opened yesterday afternoon. hours ahead of its rivals, including macy's, kohl's and sears. we're seeing this as retailers open up earlier and earlier to get consumers in stores. now, at this location yesterday afternoon there were lines ahead of opening, including one woman we spoke with who had been here two hours before that 3:00 p.m. start time. >> this is my first time.

i never went to these big sales. i saw a good price. >> i got some great deals. i got a coffeemaker, toaster oven and clothes. worth the trip today. thumbs up. >> reporter: store employees say they have been selling a lot of athleisure, boots, home goods, especially appliances which just started getting sold in jcpenney in the last couple months as this retailer bets on a housing recovery for its turnaround strategy. >> it's something that courtney reagan earlier told us to watch for, the appliances at jcpenney. thank you for the recap. we'll see you later in the day. morgan brennan at a jcpenney in garden city. >> the music in the background. i imagine morgan might be bored of that. >> all day long. >> playing in the background. the markets looking at

hitting new highs again today. futures are positive. we're calling -- expecting a 57 point move to the upside for the dow. on wednesday we saw a record close for the dow, we did see a record close for s&p 500 but not an intraday high. looking positive in the futures markets. let's discuss markets more broadly. alan is with us. good morning. >> good morning. >> i just asked this question to our previous guest, yes, we've seen record highs, it's exciting, but is it sector focused the rally we've seen over the last couple weeks? >> the story is donald trump. what he's done is introduced something which we haven't had in a long time which is real hope. you see that plague itself out across many, many sectors across the broad market. his introduction of hope for investors is so powerful.

>> why do we have hope? because of infrastructure spend? >> i think that's right. the fact that we -- the fact that we can do something. infrastructure spending, tax cuts, we were in a period where nobody was doing anything. people were not positive. there's been a sense of positivity. it's amazing that there's a sense of positivity post donald trump victory that is permeating throughout the marketplace. >> what i'm not getting whether you believe that the action will be justified by the hope and whether you would be a buyer of the rally now. >> that's an excellent question. you had this play out address if it as if it's a video game. you win the election and you get all the gold coins. we have to see how this plays out in the data. the fact you have hope can be self-fulfilling.

you have a new positivity in the marketplace. you can see it in the price of gold. gold was a fear trade. you can see that money coming out of gold. that positivity can go very far. >> will the high yields we're seeing, with it the higher dollar l th dollar, will that turn around and be a negative at some point? >> that's a problem because you have a president-elect who wants to spend money, borrow money to do so. you have a debt approaching $20 million for the government, if you are going to borrow money, you don't want to do it at higher interest rates. i think there's a balancing act here. if he's able to achieve that balancing act of improving the tax picture, at the same time borrow money and do it at rates that the government can afford to pay, he can be successful.

>> does that mean we've seen the generational low? >> i think the federal reserve has the ability to keep the longer end of the curve lower for some period of time. it's in the interest from the fiscal point of view to have lower interest rates on the long end of the curve. my dad always said to me, don't fight the fed. now you have to say don't fight the trump. this is a huge rally, a positive sense of america. as long as we continue this positive sense of america, there's no reason this stock market rally cannot continue. >> you would not be buying treasuries? >> i don't know. we have to so he how this plays out in the actual numbers. it became a joke talking about data dependency. when you have this rally based on hope, you have to wait to see the data before you can make a determination about where treasuries are leaded. we had interest rates high last year in the 30-year bond. we're not in unchartered

territory. this may be the beginning of a rally in interest rates or a temporary pause before we get back down to lower rates. >> great stuff. thank you very much for joining us. >> don't fight the trump. >> don't fight the trump. >> i'm sure he would love that phrase, too. to today's top trending stories. sad news from the world of entertainment. hollywood has lost one of its most iconic tv moms. flo florence henderson died at the age of 82. she will always be known as carol brady on "the brady bunch." maureen mccormick called her a dear friend tweeting you're in my heart forever, florence. >> someone i wasn't aware of. but read a lot about this morning. there we go. next trending story this weekend's star boy album has landed and is dominating the

trends. the two-time grammy winner dropped the 18-track album overnight. >> the weekend. >> the weekend is the name of the them. >> i know. canadian band, right? >> i guess. i don't know. great success here. almost won an academy award. >> the song we play in the background is the only one i know. member i need to download the tracks today. coming up, adobe's latest shopping survey and why bricks and mortar could have more to worry about this year. and here's a look inside macy's herald square on this black friday. quiet now, but things should be heating up later. we'll have it covered for you. retail and much more on this black friday on "worldwide exchange."

the battle for your holiday shopping hours is well underway with several offering black friday deals online and weeks in advance. joining us now with the latest numbers on thanksgiving, they send updates throughout the night and black friday shopping, is ta markmara gaffney. good morning. >> good morning. >> you guys are tracking online very closely. >> we are. most people don't know adobe for tracking this sort of thing.

we have the adobe marketing cloud, and we're doing huge data analysis and watching every second what's going on. we know what's hot and what's not. what happened in the past few weeks has been very interesting. we did a predictive model. it said we would have about 11% growth. >> for the season? >> for the whole season. november 1st to december 31st and we found out we were on path, and then the election happened. and the shopping started to drop. and we lost about $800 million out of the shopping season so far. >> in the run-up to the election or after? >> just after the election. then we got to thanksgiving day which we expected to be a $2 billion shopping day, it looks like we're totally still crunching numbers, but it looks like it will be about 1.93 billion, so we won't hit the $2 billion number from yesterday. >> so we're a bit soft.

where are the strengths? which types of retailers? >> the winners yesterday and probably today are those big retailers. so they're growing at twice the size of the smaller retailers. those are the big ones. we look at social buzz, we're seeing buzz on walmart, target, a lot of buzz on kohl's and toys are us. those retailers are winning. the reason is because you have to be awesome at digital marketing to get people to your site, in addition to being a great retailer, but you are to be good at handling mobile devices. yesterday was the biggest mobile shopping day we've seen. >> are we seeing stronger indications for the likes of walma walmart, which paid $3.3 billion for jet.com, moving aggressively to fight amazon, is this the season where their retail online strategy is working? >> what's happening with retail they're trying to broaden the season. today is black friday, the day

everyone is supposed to get profitable. we're seeing they're trying to go earlier with the black friday sales. we've been hearing about black friday for weeks. also trying to push later into the season. where we're seeing the bigge eg growth is the last two weeks of the season. which is why when click and collect kicks into the gear. >> in terms of online mobiles doing better than traditional online? >> mobile at this point is over 50% of sales. yesterday it was 58 pf% of reta er ers topping. the conversion rate of a mobile shopper is half of that using a desk top. funny thing, yesterday we did some quick polling, it turned out 25% of people use mobile so friends and family won't know they're shopping.

>> private shopping. good to talk to you. good to get the data take on black friday. maybe we'll check in cybermonday as well. >> thank you. approaching the top of the hour. the team is getting ready for "squawk box." michelle caruso-cabrera joining us with a look at what's coming up. >> good morning. looking forward to having you here later on "squawk box." as you well know, it is black friday. so we have dana telse as our guest host. a retail analyst on wall street for many years. she's been doing these overnight checks, also has lots of data for it's. terry lundgren will join us from the heart of the city with his flagship store, tell us how it's going on black friday, as is jerry stewart, the ceo of hudson's bay, they control lord&taylor. discuss the markets and the huge rally still ongoing, and talking about the economist magazine told italians to vote no in the

referendum. >> i did not see that. >> we'll discuss that. >> and also a good op-ed from mario monti in the financial times saying the same thing. some nuances that the referendum is offering -- >> here's the thing, everyone says if they vote no, it's the end of the world as we know it, which generally means lately that it's probably not. >> it's a buying opportunity according to brexit. >> great stuff. "squawk box" in ten minutes. still to come, more on the shopping mayhem. first a check on the futures market. things are strong. this resilient record rally continues.

welcome back to "worldwide exchange." we are well into black friday at 5:52 a.m. on the east coast when

everyone is supposed to be out shopping, so are they? jay gray joins us from jersey city, new jersey with more. are they, jay? >> good morning, yeah, it's coming in waves. you see that every black friday. a lot of people get out right after dinner, overnight on thursday. then dips off a bit in the overnight hours. picking back up again. a lot of bags here full of merchandise. people not only shopping but spending. we're at the newport center mall. the anchor stores have been open since overnight. people getting an early start on what could be a record breaking black friday. >> reporter: the dash for deals actually began while the turkey was still warm. shoppers starting black friday on thursday. >> buy some gifts. >> reporter: but the real crush comes today through the weekend when 6 in 10 americans are expected to make a holiday purchase. >> we know that they're not only

shopping, but 61% of people are planning to spend more money this season as opposed to last. >> reporter: sales are predicted to be up by 3.6% over last year, a welcomed jump at the end of what has been a difficult year for retailers. the big ticket items include electronics, high-tech and televisions. clothes also are a go-to gift. ultimately shoppers showing up in stores or log in -- >> because of the sales. i like the sales. >> reporter: everyone looking for a bargain on black friday. a couple hints if you're getting out in this mess, make a list. make sure you get what you're going after, don't get caught up in the hype, the frenzy of black friday. second, bling your smartphone, pad, tablet. comparison shop online. a lot of these stores will match

any price you find online that may be cheaper. should be a busy but fun day. a lot of people say they do this for the social aspect. to spend time with family and friends. >> they should do that at home. >> tradition. >> jay, thank you very much. belated happy thanksgiving to you. >> thanks. about a minute or so left. let's check in on markets. we are expecting the markets to open higher, 40 points for the dow. the s&p by a point, and the nasdaq by three points. on wednesday, the dow closed high. the nasdaq was a bit negative, down 0.1%. let's look at the ten-year treasury note. crossed 2.4% late wednesday and thursday, but pulled back from those highs at 2.373%.

the chart highlighting that strong post-trump election rally. >> there's a real better mood, whether it happens in the retailers today, we will see. we will get these reports from the malls, online. but there's this idea that the animal spirits have been awakened. you see it in the markets. the question is do you see it in the consumer behavior in you've seen it in the retail stocks. which have outperformed the broader market since the trump victory. it hasn't been all-inclusive. the utilities, telecoms have lagged and been down since the election. perhaps we're getting into the new period of a stock picker's market, a sector specific market, and the trump trade for now in equities is still on. >> it was interesting on wednesday, seeing durable goods, very strong print on that level. >> things are already starting

to happen in the u.s. economy. already. >> and that's it then. have a great shopping day. great weekend. "squawk box" is next. i get it. but you know i think you own too much. gotta manage your risk. an honest opinion is how edward jones makes sense of investing.

good morning. ready, set, shop. black friday has arrived, more stores are about to open. some have never closed. we're tracking the consumer all morning long. before you hit the mall, check your portfolio. the dow now at record levels pushing above 19,000. it looks like we could be in for another record breaking day. >> and vice presidepresident-el working over the holiday. it's friday, november 25th, 2016, "squawk box" begins right

now. live from new york where business never sleeps, this is "squawk box." >> good morning. welcome to "squawk box" here on cnbc. i'm michelle caruso-cabrera. along with steve liesman. becky is off. joe kernen is off. andrew ross sorkin is off. >> we have never been together on the set alone here together. >> shhh. our guest host this black friday, dana telsey will be with us for the entire show. she's been covering retail on wall street for -- >> for a while. >> a long time. we have a couple stores opening now. macy's at herald square getting ready for the big holiday rush. the department store chain did open on thanksgiving for a few hours. there it is. looks like they already opened the doors. a little quiet. lord&taylors also opening for business. 135 million americans are expected to shop this