hello and welcome to "street signs. i'm carolyn ross >> these are your headlines. ireland's leader is running out of time to avoid a snap election while the debate around the northern irish boarder threatens to solve brexit negotiations we speak to ireland's finance minister. shares in julius baer open in the red after the shocked resignation of ceo black friday weekend sales hit a record $7.9 billion online

as u.s. shoppers grab gaming con soles, toys and tech. and a new record high for bitcoin. a thanksgiving boost helps the crypto currency cross $9,700 as the ceo says he's intrigued by the technology. >> i think they're able to crack that, i think it's going to be an incredible story, but today i would say i'm still on the fence. good morning, everyone happy cyber monday to everybody. let's see how things are opening up this morning after a record close -- well, yet again new record closes in u.s. stock indices towards the end of the week asian equities had a bit of a fuzzy ride a lot of focus there and what that means for the general direction of chinese stock

market that has been weighing on asian indices. this morning the picture is a little bit more positive the stoxx line at 600. ftse 100 in the green up .1% a lot of focus on the brexit discussions as we enter into a couple of weeks of make or break talks when it comes to those brexit negotiations. dax up .2% cac cacant in the green. boh espolidi has resigned from julius bar. chief risk officer will take over as chief executive while

the board reviews the long-term leadership of the lender julius baer posted record assets under management of 390 billion swiss franks let's look at this with andreas venditti shares down by a little bit more than 4% in zurich trade. how big of a shock and loss is this for the bank? >> yeah, i think it's -- it's clearly a shock. i think julius baer has good track record in growth i think boris had a good record. >> how much profit taking is there in that stock this morning though shares have had a good run so far this year. year to date they're up by 30% how quickly do you think shares can actually recover the company telling us this morning on the call that nothing is going to changewhen it come

to the overall strategy. >> yes, that's what they said in the morning, no change in strategy of course, that will be surprising to hear today that they're going to change the strategy that's worked very well so far in my view, boris was actually, you know, involved in the whole growth strategy quite a bit, you know, in terms of hiring senior relationship managers in order to grow. also involved in my view also with clients, with larger clients. so from this point of view, of course, it depends, you know, who they will take as a final replacement. my understanding is that bernard hodler is an interim solution. >> that was my understanding, he was going to be an interim ceo for the time being

do you feel the departure will fear the relationship of many managers. >> that's very clear they're one of the larger important competitors of julius baer now having boris as a co-head of the wealth management business clearly that's a risk, of course, that he will poach top rms and clients at some point. at this point it's very unclear. management when asked in the call this morning, they clearly said they are obviously looking into retention measures for relationship managers. that's something they have to look at, yes. >> we're seeing the common theme from many swiss banks they push into asia. this has been a theme for julius baer how much of this is on the back of strategies that you think

they could take it to asia are we going to see more of that coming onto the swiss banking industry >> i think julius baer did very well in asia over the years. in terms of brand which is very important there, much better recognition today than say five years ago and that's, again, i think very big success of boris colardi in my view he builds the second home base julius baer calls it in asia there as well he was fundamental. >> you have a hold rating on the stock. we've seen a couple of downgrades already this morning. why do you want to hold onto the whole grading? >> the track record obviously is good for julius baer they have a great run valuation wise, it is what it is clearly it's more down to long-term, you know, what's going to happen on who's going

to replace boris, which will be the big questions there. >> andreas, thank you very much. as you said there in your introduction, while it is cyber monday, online retailers are hoping for another bump after black friday and thanksgiving volumes hit a fresh record high. according to adobe analytics online sales hit $7.9 billion o thursday and friday, an 18% gain from a year ago. amazon may have accounted for half of online black friday selling. i don't know if you got in on all the shopping >> of course you can't miss it, right you get drawn in i think some of those stats are real limb press sieve. i mean, 50% of all purchases online on amazon that really is a staggering statistic. obviously it goes a long way to find out why jeff bezos' wealth is over $100 billion now

looking at more numbers. 7.9 billion in online sales friday they're expecting another 6 billion in sales today for the whole holiday season, expecting $684 billion in spending that's up 4% from last year. people are worried about the health of the consumer and people are clearly out there spending a lot on the holiday season, more so than last year then, of course, the big question is because there is so much competition from these retailers, how much is it going to really affect their top line? because their margins are diminishing as we're seeing in this country as well, the discounting is starting earlier and earlier. it comes to shops that people have to provide more and more to get people into the shops. yes, transactions are up it doesn't bode well for overall revenue. >> i think you're absolutely right. we saw the top in the retail

sector on friday the question is really, does this have legs will this continue into year's end and next year? we know retail has been hit hard take a look at stocks like macy's and kohl's, they're down. they've gained ground on friday but we've seen retailers go, gain ground friday making money in retail unless you're walmart or amazon is incredibly tough, almost impossible. >> unless you have that online presence. >> exactly. >> another interesting stat i was reading last week is the market valuation of assets has actually surpassed -- >> oh, wow. >> it's valued more even though the revenues are 1/5 of the market that tells you that investors are placing more of the weight on the technology, the logistics. >> one final note though, it seems some of the shoppers are going back to brick and mortar

it doesn't seem to be all online i saw a couple of stats about more and more sales going back to brick and mortar. amazon held a couple of top shores in london it's a brick and more tore store, they know they can't count entirely online. >> because of the experience. >> true. very true. now find out how black friday helped amazon jeff bezos to boosting his net worth over to $100 billion that's on cnbc.com he's not the greatest philanthropist. >> that makes him like the 62nd largest country in the world. >> e-mail the show let us know what you would do with $100 billion. you can find us on twitter on "street signs." of course, we will be speaking exclusively to the irish finance minister after

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. the irish leader is running out of time to avoid a snap election he has just one day to find a resolution to the political crisis which threatens his minority government. michael martin, leader of the opposition party, could bring the motion of no confidence in the deputy prime minister as early as tomorrow. let's get back out to willem marks who's standing by in dublin with a very important guest. >> i am. i'm joined by paschal donohoe, the finance minister i want to ask you about this triggering of a snap election. your predecessor told me he only bets on horses and dogs. i don't know if you're a betting man. what are the chances of this >> i'm going to stand by his wise advice.

what i am certain of in advance is that all has been done that can be done to avoid an election taking place here in ireland. >> they said that the case against him was quite flimsy and the charges were essentially trumped up what's really going on european viewers, what's going on what's driving your party from failing to push this idea through that the prime minister is not fit to serve? >> i'm sure all of your viewers in their own countries are familiar with how political issues can sometimes acquire a momentum of their own and i think this is one of these issues i have worked with francis fitzgerald very closely for over a decade i know her to be an absolutely competent performing minister. they've dealt with a very, very complex issue in relation to the administration of justice in our country. i think the really important

thing now is that all steps are taken to avoid an election happening. there are so many things happening from brexit to the challenges abroad. frances has done a great job as a minister she has my full support. >> tax rates, a few weeks ago the u.s. president suggested that ireland reduce the tax rate from 12% to 8% it's gone up half a percent. the irish government has in the past few years faced a lot of international pressure on the tax rate how reliant is this economy on the local tax rate >> well, the corporation tax policy, the rates of which are set here in ireland, is a very legit malt and sustainable response back.

in relation to the rate change in the future, it's great for me to have the opportunity to say that at 12.5% will not be changing it has been the corner stone of how we have structured our corporation tax over the last few years. neither i nor any future finance minister will change it. it is a pillar of our competitiveness but we have many other pillars. the quality of our educational system, the youth of our country, the quality and flexibility of our work force and all of those things come together to create an environment in which we've had very large international companies located here in ireland now for decades. >> do you think the scrutiny you've seen, the increased scrutiny warrants it >> i think the increased scrutiny in ireland and elsewhere is a consequence of the growing international base regarding the taxes that are collected globally many countries have been brought

into an air gentleman ofrea of . our response back to that has been that we will make all of the changes that are required of the oecd process and, indeed, we will be enthusiastic participants of the process by the oecd ireland will continue to do that and that's why, for example, we eliminate companies from our taxes. that's why we made changes in relation to so called double irish. while dealing with all of the issues of global concern at the moment. >> brexit, they say that ireland was in a strong but precarious situation when it came to brexit how can be be strong and precarious >> we can be strong because of

the support that we have across the european union for the issues that are unique to irela ireland. we're very broad in e.u. support in those issues but at the same time we've acknowledged that this is intensely difficult and the reason for that of course is if the resolution of these could be the heart of what the future relationship is like between the u.k. and the e.u we know that pressure will build for resolution on many other matters so, yes, we have solidarity behind ireland at the moment in terms of issues but we know that this is one of a number of issues that would need to be addressed and these issues have to be in a past resolution. >> people in london are watching

very closely is this government concerned about its mandate given the domestic -- >> ourmandate in relationship to brexit is absolutely clear. we have a minister that has very, very broad support our mandate is clear we're focused on this and all parties in our parliament are very clear on how significant these issues are. >> let's talk about northern ire land your government position on that has been very set. your level of influence has grown since the last round ever negotiations you've heard -- what specific commitments could ydo you want down about the border? >> they would be engaged even more intensely in this with

regards to the european union. in the course of the negotiations and the work that's already ongoing with the european commission we will be looking to get a very clear commitment in relation to how this issue will be managed specifically what we need to be clear on is we need to have confidence that we will move forward, that there will be no return this is an issue that transcends trade policy, customs policy for ireland. it goes to the very heart of a political culture that has enabled the peace of our island and our country. we will need very clear commitments as the process moves forward that staff will be returned. >> f. scott fitzgerald said the

sign of a first rate intelligence is people who hold two opposing ideas in your head at the same time yesterday they said there will be no high border and northern ireland would not be part of the union. is that not -- >> i don't think f. scott fitzgerald has any thoughts in mind when he was talking about that there in 1910 and 1920 and i think f. scott fitzgerald also made a comment about not too many second chances in american life and as this negotiation moves forward we'll hear different views in relation to what the end point will be. >> so gdp talking about perspectives and opinions, they've said that the single market is economics.

can you underline why that makes sense? >> we are putting this position forward because we believe it's in the national interests of our country and offers the best prospect for continued economic progress in this particularly on our islands. the reason why we believe it's very, very important that we have a customs policy moving forward that is as close as possible to what we have at the moment, including continued membership of a customs union is that it offers the best possible prospect to the continued maintenance of trade on our island if we want to have free movement of people, services and goods on our island, which also equates to the removal of the border on our items which was achieved there over many decades of intensely hard work for many, many different politicians, customs policy and how this

issue will be dealt with at the heart of it so this is why we've been very clear from the start of dealing with the post brexit environment that this period will be really important for managing it in the safest way possible that customs policy is at the heart of how many of these issues will be done. >> thank you very much for your time this morning. >> thank you. carolyn, as you can hear, a lot of issues on the table both here in dublin and across the continent. the motion of confidence in frances fitzgerald here in ireland that they're currently working on and of course that issue of northern ireland border, one of the three separate issues that they need to have sufficient progress on a lot can happen between now and december. >> thanks so much. that was willem with the irish finance minister. bitcoin has hit a fresh

record extending gains from the thanksgiving weekend to surpass the $9,700 mark. they've risen 870% year to date. attracting high profile criticism along the way from the likes of jamie dimon they disagree with the jpmorgan ceo. hadley is in abu dhabi and has more on the story. >> reporter: hey, good morning essentially what we've heard from the man who holds $125 billion assets who's looking to invest in technologies across the board, he's looking to invest in china, russia, the united states. is this going to be disruptive, for example, to your business with unicredit and also to bitcoin. let's take a listen to what he has to say. >> it could be i still have not formulated a clear view we're still getting educated on this the area that i would have concern on still is how is this

going to be regulated because i think block chain, its growth on the double digits, single digits, early double digits to astronomical growth will really depend on how fast you can execute and where you're going to be able to execute under a regulatory environment that is acceptable if you're able to crack that, i think it's going to be an incredible story to date i would say i'm still on the fence. >> what about bitcoin? jamie dimon's calling it a bust. do you agree >> no, i wouldn't agree in calling it fraud i would say time will tell it could as well be and it could as well not be i think one has to be open minded >> reporter: of course, this is the world's 14th largest sovereign wealth investment fund it's interesting to note that something like 33% of their investments are still in oil and gas development space but most

of this, of course, is being put into technology like the 15 billion they've invested in soft bank they're using these opportunities as economic diplomacy. >> thanks very much, hadley, for all of that. coming up on the show, we hear from s&p and what needs to be done to improve the economic outlook there. stay with us for your heart... your joints... or your digestion... so why wouldn't you take something for the most important part of you... your brain. with an ingredient originally found in jellyfish, prevagen is now the number one selling brain health supplement in drug stores nationwide. prevagen. the name to remember.

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welcome back to "street signs. your headlines >> ireland's leader is running out of time to avoid a snap election the irish finance minister tells cnbc exclusively they are doing everything possible to avoid going to the polls >> really important thing now is that all steps are taken to avoid an election happening. there's so much taking place at the moment that our country has to deal with from brexit to other challenges abroad. shares in julius baer deep in the red after the sudden resignation of the ceo black friday weekend sales

hit a record $7.9 billion online as u.s. shoppers grab gaming con soles, toys and tech and a new record high for bitcoin. thanksgiving day boost helps the crypto currency at $9,700 as one of the ceos of the sovereign wealth funds is intrigued. >> i think if they're able to crack that, it will be an incredible story i would say to date i'm still on the fence. happy monday, everyone if you're just tuning in, let's show you what u.s. futures are up to. obviously we had holiday shortened week nasdaq up 1.6% we saw strong gains on friday on the back of the blowout black friday numbers the dow jones this morning up 14 points the s&p 500 up by 6 or 7 points.

in europe, equities looking at very modest gains. xetra dax up by 0.2% the cac 40 is up by a quarter of 1% ftse 100 adding 18 or 19 points. i want to point to one of the big underperformers, julius baer it's down 4 2/3 of 1%. it's because the ceo has surprisingly and unexpectedly resigned and moved over to their rival. the 145irs have had a good run so far this year. quick look also at the currency markets and we're not seeing a whole lot of movement there. euro dollar still holding on to two-month highs, 11926 hearings for the new fed chair, mr. powell, but also potential

movement on tax reform. now in other currency move, south africa's president has directed the finance ministry to urgently come up with a package of stimulus measures to accelerate s&p growth. they're citing further deterioration in south africa's economic outlook and public finances we spoke to the director for the international ratings at s&p global ratings about the reason behind that and the challenges facing south africa. >> the trajectory has deteriorated quite considerably and the growth is quite poor we don't expect them to do enough to change the story around. >> if we say a reshuffling of political portfolios, i mean, or, indeed, the finance ministry level, would that be a sufficient catalyst to have you

revisit the ratings as set >> no. i think fundamentally it's really about the growth story and growth has been really poor. on the back of that it's not enough to sustain the fiscal revenues which we've seen revenues fall sharply and there's been concerns around that so it's really an issue that the growth story has deteriorated and that's not providing the fiscal required which is underpinning the whole story so, i mean, they're going to try to put in a number of measures at the next budget so our feeling was that this is not enough to turn the story around. >> and sticking with emerging markets, a pick up and growth in e.m. is still in the early stages it's expected to pick up the pace that's according to the latest report from goldman sachs.

the bank sees performance in the e.m. economy by declining levels joining us is the co-head of fx and emerging markets research at goldman sachs. thanks for joining us this morning. >> good morning. >> i want to start out by asking about your thoughts on south africa we spoke to the s&p director and obviously they were downgraded on friday due to deterioration on their public finances also have elections coming up in december how are you thinking about south africa as a play from here >> yeah, i mean, i think south africa is part of i would say two or three stories in emerging markets. i would say mexico is another one and turkey probably as well where i think there's the economics and i think the politics when you look at the economic outlook growth has disappointed. some of the other factors whether it's inflation, that has actually begun to stabilize. we expect poor inflation to

remain through 2018. the current account deficit has narrowed pretty sharply since the worst point in 2013. there have been some positive on the macro outlook, but a lot rests on be the party congress in december. if you can get an outcome from that that is relatively market friendly, if there's a seriousness of purpose in terms of actually moving towards a more growth friendly outlook, i think investors perceptions of south africa will change pretty quickly. when you look at the overall macro, i don't see that it is a no hope story by any means, but i think a lot rests on the politics a bit like i said of mexico. you have again a pretty good outlook but a lot rests on howell the negotiations go. >> i want to talk about china for a little bit we had a little bit of a scare in the stock market towards the end of last week there was concern because of the rising bond deal and credit

market dysfunctioning. you said the priority of the government to maintain growth and maintain a sustainable growth and financial reform going forward. how much of the bond market reaction do you think is on the back of government policies or is it something that we should start to get a little bit nervous about? and then they'll say this is the beginning of something to come >> you are seeing in china the policy seesaw which is when you have solid growth and you have stock markets doing well and when you've got past a big political event like the -- like the transition that you've placed, policy is going to tilt a bit more towards reform, towards tightening, towards addressing some of the credit overhang that has built up in china over several years i think some of that is happening now. it's not that i think it is sinister, but there is no question that some of this tightening is policy driven or at least policy sanctioned

i think you are in for a somewhat slower pace of growth in china we think that slowdown will be managed. >> what happens to the e.m. trade in 2018? a lot of strategists tell us the biggest concern is the sudden spike in inflation or for the fed to hike quicker than planned. that would be news for e.m. overall. is there a future for continued strong returns for e.m. in 2018? >> absolutely. the tag line we've used is you want to own the growth but you want to hedge the risk emerging markets are a good place to do it and fx and some of the higher carrying returns you want to hedge a bit. the biggest risk is a faster move up in inflation than we or other analysts expect. we don't expect inflation to go above 2% by the end of 2018 in

any of the g3 economies. overall our model view of inflation is actually probably pretty benign. if that is wrong, if you see inflation go up, rates go up faster, then i think you can put some hedges in place one of the things we have talked about for example is funding some of that e.m. carry out of things like the yen. because of that, the yen tends to behave like an e.m. high yielder. you get some protection if you fund some of your e.m. carry longs rather than just out of it. >> you're telling me you're not concerned about the stretch positioning we're seeing in the e.m. or the valuations which have been really lofty of late because we've seen such strong returns. you're thinking that this is something that can be hedged >> i think so. i think you're right valuations today are no longer as compelling as they were, say, at the start of 2016 or after

the trump camp from the start of 2017 what we have found in our research is good growth often trumps valuation so you tend to see valuations move into over value territory, typically in periods where growth is accelerating and the growth differential is growing that is something we expect to happen in 2018 >> can i just ask you then one final question up 19% this year what do you see for next year? >> the emerging market index market we have 10e% return next year. >> thank you for your thoughts now egypt has carried out airstrikes on suspected militant hideouts from people who killed people at a mosque nbc's bill neely reports from cairo. >> reporter: hello from cairo

where still no group has claimed responsibility for this attack the al qaeda affiliate in egypt said it had nothing to do with the attack which just leaves isis really as the only group capable of gathering 30 gunmen remember, those gunmen flew the black flag of isis before this massac massacre 20 of the most seriously injured have been flown to hospitals in cairo, some of them with life threatening injuries some patients have been describing what they saw 13-year-old abdulla said he saw people literally climbing over themselves to escape he said everyone was terrified another 14 gleerld a nearby hospital bed said the gunman first of all told the little children outside the mosque to get lost they went inside and attacked and shot at just about everyone. the imam of the mosque had just begun his sermon he said they were shooting at everyone who was breathing remember, those gunmen escaped

they're still free to strike again. no arrests and no french airstrikes in the last 36 hours. people are angry because they say the egyptian security forces still can't protect them against isis and islamists they're worried that they're not winning. the flags here still flying at half staff the days of mourning are almost over but the anger here and the anxiety certainly isn't over back to you. >> hadley sat down with egyptian president hasisi earlier this month. >> we are at war against terrorism in the full meaning of the word egypt is in this alone we are seriously and honestly confronting this another point, when we are confronting this terrorism, we

are very keen to make sure no innocent people are hurt the fight is not easy. we are protective of the people who have nothing to do with this war. stability has been achieved by comparison to what it was like before now of course the level of stability has increased in a very big and noticeable way. i'm not the only one saying this but everyone who is following egypt's affairs can see this but have we resolved the situation of course not. >> we are going to go for quick break but as always, do e-mail the show. the address is "street signs" europe @cnbc.com you can follow us and tweet us directly @carolyncnbc or @cn or @cnbcjou. they raise the volcano alert to the highest risk of eruption in bali we're playing hide and seek with kids battling cancer

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welcome back to "street signs. german chancellor angela

merkel's cdu has agreed to explore talks with the spd talks to revive a grand coalition became possible when the spd dropped the pledge that it would not consider working with merkel. earlier on "squawk box" our guest said if germany is going to change, europe will too >> all of this is going to create an environment which is relatively dynamic of course, we all like to see or many people see that the glass is only half full or -- is half empty, but i think it is going to be in the other direction this is actually much more of a progressive approach of germany and that this country is no longer in a situation where it will push them into a low valuation. this internal competitive valuation that we have seen, it's deflationary pressures and

contributed to the net savings within the eurozone which at the end of today has been as well responsible for very low interest rates in the eurozone so germany is going to change, it could change europe. >> let's head back out to annette who's standing by in frankfurt. the merry-go-round continues big turn by the spd. what are they going to do about the hit to credibility repeatedly they've ruled out working with the cdu. >> reporter: yes, exactly. that's a good question i would say. they will take their time to come up with a narrative there's a big party convention of the social democrats, the 6th, 7th, 8th of december in berlin that's the time when we should hear from them how credible that u-turn is. of course they will say that he was urged by the president of germany to actually live up to their responsibility as one of

the imagine omajor parties for m whether schultz will stay on board and whether he will serve as the deputy chancellor to stay under angela merkel, this is highly questionable because he has ruled out that for him personally several times so we might still see one of the other bumps on the road towards these talks. the wise chancellor or the deputy of angela merkel was saying in an interview yesterday night that she does not expect nicole ligs talks to start well before january they will determine what they want to talk about and where they want to go so it will take a lot of time still here in germany to really have a stable government in place. >> annette, the spd has been hurt very, very badly in the

past previous experiences with the cdu and grand coalition. what do you think they'll do differently now? i guess the concessions they're going to make are not going to be as huge what can we expect in terms of policy then? >> reporter: in terms of policy, they are getting quite vocal that they want to have more social justice policy elements within the grand coalition, such as lower taxes for the middle class and also potentially scrapping the private insurance scheme altogether. it remains to be seen how much they want to get they want to increase social spending that they want to do always so that's the mainstream pillar of that right now. whether they're going to get all of that is highly questionable having said that, of course they had a poor showing after the last grand coalition in the polls. that was mostly also homemade because look at what they have

actually realized during the last grand coalition they've got their minimum wage they got a lot of stuff going but they were really bad at marketing themselves so i think that's one of the major take aways, and also that is discussed at their headquarters in berlin, how to manage the party more effectively and also create their -- improve their marketing in a way but we'll see. as i said, a long way going forward. i think i'll stand here and tell you the same story one year over again in december more than once. >> probably also in january and february annette, thank you so much for that. >> thank you very much. now in another blow to the ride haling company, uber will reportedly be barred from operating in israel. the ban comes after a tel aviv judge ruled in favor of the transportation ministry who alleged they used unauthorized drivers. the ban will go into effect

tomorrow morning according to a local newspaper the swiss maker could be eyeing a german banking business as well as highly technical banks. meredith has bought time, inc, for $2.8 billion. it's paying $2.8 billion in cash the bid is helped by charles and david koch meredith has been chasing the portfolio which includes "people", sports illustratesed and "fortune" magazine joompt on tax reform they're hoping to overhaul the tax system in the u.s. the house has passed its own bill if the senate one passes it will need to be harmonized before president trump can sign it. trump is supposed to meet with

them tracie is live from washington with the latest. what can we expect out of the senate this week >> reporter: well, we can expect more talk about how they're going to get this done because it's not just democrats, it's republicans who are threatening to possibly not get this done because some of them have issues with the way the tax bill has been written the inclusion of health care, how small businesses are dealt with and other things that they have got to try to work out between now and christmas if they are to meet their own self-imposed deadline. president trump getting involved meeting today with the senate finance committee, meeting with congressional leaders tomorrow on this and a number of other budget get issues including some that have to be worked out pretty quickly by december 8th in order to keep the government working. the president also tweeting overnight about this saying that big tax cuts -- that this is going to be a big week for the $1.5 trillion in tax cuts that they're trying to get done, that senate republicans must come

through. lots of republicans have acknowledged that after the health care failure if they can't get tax reform done they are in trouble in next year's elections. the president tweeting overnight that the bill is getting better and better he expects a great result for all, but it's not necessarily going to be easy inasmuch as at least three republicans so far have said they've got problems with the way this bill has been written. >> tracie, can i just ask you, assuming the senate bill does get passed this week how easy is it going to be to reconcile? >> depends how it passes the trump administration has said they're willing to get rid of that, but that is a big part that's not in the house bill that would be a big challenge. there are some other things though that know also need to kind of work out that could be complicated but not necessarily impossible >> tracie, thanks very much. that was tracie potts from nbc news live in washington. before we wrap up the show, quick look at how europe is

trading this morning when it comes to the equity markets. a little bit of green. to be honest, we started out in the red and then recovered the xetra dax up by 0.2% the cac 40 is up by 0.2% there's one note ablg decliner in terms of banking stocks, that's julius baer after the ceo abruptly left the company to move over to the competitor. he's been at the helm of the company for nine years when it comes to the fx markets, we're not seeing a whole lot of movement this morning. euro dollar is pretty much flat. the dollar is a touch lower against the japanese yen as we've heard, given all the tax talk, it is a huge week for the u.s. dollar as we're going into the congressional hearings when it comes to the future of fed chief mr. powell euro dollar holding on to 11931. u.s. futures looking brighter. the dow jones seen up marginally

to 4 points. s&p 500 little change to slightly higher. we saw another record close to the s&p and nasdaq last week much of that was supported by the retail sector after that blowout number for the black friday sales up by 18% when it comes to sales versus last year >> don't forget it's cyber monday. >> it is it continues that's it for today's show i'm carolyn ross >> "worldwide exchange" is coming up. >> see you bye-bye.

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markets now. investors kick off a new week. breaking overnight publisher meredith is buying time, inc for $2.8 billion full details ahead. cyber monday following a record weekend of online sales it's monday, november 27th, 2017 and "worldwide exchange" begins right now. ♪ ♪ good morning very warm welcome to "worldwide exchange" on cnbc. i'm wilfred frost. >> i'm seema