it is now 5:00 a.m. on wall street here's your top five at 5:00 it could be another wild ride for your money after a major selloff wipeded o eout all the gains for the year. oil trying to make a comeback. on the record, mark zuckerberg says he has no plans to step down as facebook chairman bitcoin fighting to come back this after losing nearly a third of its value in just the past month. potential deal news to talk about involving a dow component. we have the full deal-tails ahead on this wednesday november 21st as "worldwide exchange"

begins right now ♪ good morning welcome from where in the world you may be watching. i'm brian sullivan happy thanksgiving eve here's how your money and the global markets are setting up their day and give thanks because futures are higher right now. listen, dow futures are up 84 points this is not a giant comeback but the fact we're in the green may be reason to give thanks given we lost about 1,000 points on the dow in just two days. you guessed it bonds holding steady, about 3.08% on the ten-year. the bond yield had been a huge story most of the day, most of the year i should say, because that 3.25, we wereinflation. let's see if asia was able to come back at all

and not really the nikkei 2.25 down hang seng up shanghai up. mixed trade there. overseas in europe, a similar story. again, we're up a bit here seeing small gains a bit of green on the screen, but remember we have been here before the last couple of days europe was mixed, too we saw the u.s. market slide as the day went on. outside of stocks, here's a global look at commodities and currencies oil, you heard the president yesterday talking about the price of oil he would like to see it lower. not happening this morning wti up about 2%. still $54 a barrel if you're driving, i heard a few people may be driving today, if you're driving that's probably good news. if you're a highly indebted oil company, probably not good news. we'll get more on this coming in let's dive into a few sectors that have been feeling the heat.

if you were look at a sector view during this market slide, look at this, energy down 17% from recent highs. materials down 17% communications, which remember now includes google and facebook, the s&p sectors, off 15% from the recent highs. no sector has been hit more than energy during this market slide. let's bring in boris schlossberg from bk asset management he's a nice guy. boris, happening pre-thanksgiving eve >> same to you, sully. >> thank you very much i know you're more of a currency guy, you can talk about everything what is the talk around the schlossberg family table when somebody asks you why is energy -- why is the market down 15% in a matter of a couple of months >> i've been making the argument that we hit peak growth in q2 this year. i think the market is catching

up to that reality basically all the macro indicators have suggested all of the stimulus from fiscal spending, all of the growth we saw in the economy is petering out. and we are seeing a big overlay of lots of problems across the world. the chinese/u.s. trade relations, the european situation, both in brexit and within europe itself with italy, all that creating stress across the globe. just more importantly, i think the much bigger problem is that monetary policy is no longer easing so therefore multiple expansion on pes is not happening. you have this profit contraction, put multiple pe contraction and tightening monetary policy. all of that is a negative overlay on the market. we've been conditioned to buy the dip continuously i think the regime has changed this is maybe i think the biggest thing to take away from this we may be in a situation where we're in position where it will

be sell the rally rather than buy the dip. >> as we expected you're making an important point, this time it does feel different. does it not? it's always been buy the dips. we fall, the market comes back this time there's the feeling where all these good things are happening in the economy, yet we look forward it's just hard to see the light at the end of the stock market tunnel >> it is the bounces are pretty anemic. they have been very anemic and are not coming up to the former highs. overall, as you look into the next several months, it's going to be a challenge for investors to really establish positive positions. i think it's going to be a much more sell the rally structure than buy the dip >> you've been right you've been out there. i know from trading nation and everything else we've done that you were sort of calling this in a way that you had been concerned. so let's flip the script

if you had to fine a reason to be bullish, what would it be >> one thing that could be bullish is the trump administration making peace with the chinese. that will create relief just globally across the world. another thing that could be bullish -- this is kind of a fanciful idea, but 5g communication. it's always been technology waves that have rescued us now you're seeing with apple and with facebook and google is that it petered out there's nothing new on the technical landscape to excite the crowd. 5g could be one of those things. if that comes on board fast and creates knew opportunities, that could be the next wave up. until that point i'm dubious >> that's down the road. in the near-term we had a guest on yesterday, patrick palfrey who thought the g20 meeting next

week in argentina, if we got a resolution between xi jinping and president trump that the market would be in better shape. are you watching that g20 meeting next week closely? >> absolutely. i think that is the near-term catalyst i don't think it's the catalyst that stakes takes us to the nexg rally, but that should ab pbe a positive event if they come to terms. >> happy thanksgiving to you and your family. >> you, too. facebook ceo mark zuckerberg speaking out about his future at the company last night let's get to frank holland with more >> mark zuckerberg is defending facebook from mounting criticism in the wake of a number of scandals and damaging reports in the "new york times" and "wall street journal" about management issues zuckerberg last night dismissed speculation about any leadership changes. >> so you are not stepping down

as chairman. >> that's not the plan >> that's not the plan would anything change that >> i mean, recently over time. i'm not going to be doing this forever. but i certainly i'm not currently thinking that makes sense. >> mark zuckerberg controls about 60% of facebook's voting power which means he would have to voluntarily step down from his role as chairman he also praised co sheryl sandberg he previously blamed her and her team for many problems at facebook which made sandberg question whether she should be worried about her job. zuckerberg says he hopes they work together for a long time. >> sheryl is an important part of this company and is leading a lot of efforts to address some of the biggest issues that we have and she's been an important partner for me for ten years you know, i'm proud of the work we've done together.

i hope we work together for decades mr. to come. >> zuckerberg also defended facebook's actions in handling data privacy and information around the presidential election in 2016 but did not address specifics. facebook shares lost about a quarter of their value this year brian, back over to you. >> frank holland, thank you. we continue to follow that developing story on auto executive carlos ghosn nissan and renault where issaling wi wrestling with his departure julianna tatelbaum has more. >> last night the board had a meeting. they decided to keep carlos ghosn as the chairman and ceo despite his temporary -- him

being temporarily income -- incapacitated. they have put in a temporary management team led by bollore they also announced that they reiterate their allegiance to the alliance this is critical moving forward. this is the big question that investors have what is the fate of this alliance the french government has been weighing in on this. they own 15% of renault. this morning we heard from the finance minister, bruno lemaire, he said there is no proof of wrongdoing at this moment. echoing what we were hearing from renault putting this together, a very different stance, a different tone coming out of france compared to japan. the mood here is innocent until

proven guilty. earlier this week nissan's ceo was very clear in assigning blame and assigning guilt to ghosn and motioning for his immediate dismissal. the next catalyst for this story will come tomorrow nissan is holding a meeting in japan. we expect to hear more from all sides tomorrow brian? >> thank you very much for that. we have deal news in the healthcare space walgreens, boots alliance and humana are reportedly in talks the two companies are considering taking equity stakes in each other. this would be the latest drugstore operate tore team up wi operator to team up with a health insurer walgreens is higher in the premarket by just 1% up next, mind the gap.

more trouble at one of america's most iconic retailers. and you will hear from goldman sachs's chief global equity strategist, a big interview with peter oppenheimer coming up on "worldwide exchange." [ phone rings ] what?!

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hopefully there's no traffic yet. for some reason i agreed to host the noon show today because scott wapner is on a beach somewhere, i'll leave at 1:00 p.m. and get home at 9:00 p.m. we have lost almost 1,000 points on the dow in two days. things are looking a little better today dow futures indicating a jump of 88 points. cold comfort for those of you who have been in the market the last couple of weeks still, it's not more red maybe we could get a bottom here let's get to your top three stock stories on this thanksgiving eve the gap's latest earnings beat forecasts however same-store sales missed on weak performance at its namesake brand. the company says it is looking at whether to close hundreds of underperforming gap stores shares of foot locker are actually surging right now the retailer reporting better than expected results on strong

sales growth foot locker crediting its agreement with nike. foot locker is up big today. and autodesk is planning to buy plangrid for $9 billion fl it could ab tripbe a tripley for housing. on monday housing sentiments fell, then yesterday housing starts also missed today we got existing home sales. what will go on with the housing market let's bring in mark fleming from first american it's a weird housing market right now. you still have sellers who are holding on they're not moving they're not listing their home any buyers out there who want to buy, interest rates have gone

up is this the perfect nasty storm for housing right now? >> i don't know about storm but it's the new normal as the fed attempted to normalize rates and will continue to do so, the housing market is responding there are two types of buyers out there. the first-time home buyer who is experiencing a significant reduction in affordability housing is about 15% more expensive today than it was a year ago partly because house prices have risen, but also because mortgage rates have gone up then as you said the sellers, they don't want to sell. you're financial isinsented to sell your home so those who don't sell don't buy. we expect home sales to underperform later today >> if i go 5 to 10 miles west of where you're coming to us from,

rosalyn station, vienna, oakton, lake braddock high school, these neighborhoods take the itemized deducti deduction. that salt, state and local tax cap that was passed in the tax bill, i know it is slamming my neighborhood no one is whining for wealthier people you know what i'm saying, that reduction hurt the housing market in wealthier suburbs, has it not >> that's right. the primary impact of the tax changes is definitely in the wealthier suburbs, those that you found around d.c., in new york it creates a price adjustment. people are willing to pay less now because of that. that means sellers are less likely to sell >> nobody buys a house based on the price of the home. they don't say that's $700,000 they say all n including the mortgage interest tax deduction and interest rates, i can afford

3,500 a month. whatever they can afford per month factored in every which way is what they can do. that lowering of the cap altered that calculus. >> monthly payment is king most people make the decision to be a homeowner not based upon tax deductions >> they want to own a home, but they have to afford a home if sellers don't bring the price down, the buyer is like, eh, i can't afford the home. >> that's what we're seeing. it's hard as an owner of the asset to say it's not as valuable as i thought it was that's why people hold on to stocks troo lonoo long. the pain of loss is felt more viscerally than the joy of gain. we believe it's worth more and we don't want to sell it for less >> that's true in my town and many other towns around where we are. nobody is whining for people well off, but the housing market is not like the stock market

i could sell you a share of ibm, it doesn't matter to somebody else, but the housing market is a chain, if i'm not buying, i'm not moving, then you're not buying, you're not moving it affects everybody from renter, to first time home buyer, to home builder to millionaire. >> i believe in markets so they correct themselves the way that happens is through price. as this thing works itself out, it doesn't happen quickly, but prices will moderate at least we should say prices will stop growing at the pace they have so that incomes and affordability and those things can catch up >> fair enough mark fleming, really interesting stuff happening in housing appreciate it. have a happy thanksgiving. >> you, too. up next, more on the recent crypto collapse. bitcoin lost nearly a third of its value in 30 days isny kr any crypto comeback in

work and the countdown is on two days away from one of the biggest shopping days of the year not the biggest, but black friday is still important. so important that courtney reg season in secaucus, new jersey as we head out, let's look at the international markets in correction after yesterday's selloff. it's tough out there we still hope you're hing ava great day. we're back in a minute t job, the riskiest job. the consequences underwater can escalate quickly. the next thing i know, she swam off with the camera. it's like, hey, thats mine! i want to keep doing what i love. that's the retirement plan. with my annuity i know there's a guarantee. annuities can provide protected income for life. learn more at retireyourrisk.org from capital one.nd i switcheded to the spark cash card i earn unlimited 2% cash back on everything i buy. and last year, i earned $36,000 in cash back.

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it's up 4% on the coinbase exchange to 4524 the crypto collapse has been downright ugly look at these returns. bitcoin looks pretty good. it's down only 44% in a year ethereum is down 65% bitcoin cash has lost 82%. joining us now is lou kshg erne. good morning happy thanksgiving >> happy thanksgiving. >> you are still standing. you have not been knocked over what exactly is going on i know the markets have been weak, why is crypto so weak? >> crypto has been so weak because for most of it there is no underlying value outside of confidence so bitcoin itself we think is a -- is going to replace gold recently gold is an $8 trillion thing.

>> maybe you agree with me it's a commodity not a currency >> i think it's a store value, it should surpass gold overtime. it won't happen overnight. for anybody who has been in crypto for a while, there was a day in 2013 where we were down 70% overnight. so nobody likes being down like this, but this is part of investing in crypto. >> you are a hearty bunch. you are not unfamiliar with these kinds of swings. this has been going on but that also drives people away, does it not? >> certainly >> it's hard to be in a market where you could be up or down 50% in a year. >> undoubtedly and this is not only crypto. if you go back to the internet bubble, which is what a lot of us in crypto look at for direction, amazon, one of the greatest companies in the history of mankind down over 95% in two years there's something called amari's

law, a stanford professor in the '70s, he said the impact of all great tech nological change, th impact of all great technological change is overestimated in the short run and underestimated in the long run and that's why we get bubbles. >> and it gets trumped's by moore's law. i like that law. the idea being that everybody wants blockchain -- blockchain has been around for a decade everybody wants blockchain and bitcoin to save the world now. >> exactly >> they're not looking out a decade >> exactly particularly newer people when they come into the market, it's extremely hard for them to go through something like this and not leave. if you don't really -- i talk about actually seeing the crypto light and having faith that this will happen because you believe in these technologies. it's not just blockchain, it's cryptocurrency, it's zero

knowledge proof. all of these are the next competing platform that we think will create the next value >> why is bitcoin down 44% in 12 months is it people selling what they can? is it investors getting nervous? what is behind that? >> what's behind it is the excitement of people who believe that -- early people thought it would be a new form of cash. because of the governance problems with bitcoin it struggles to evolve. it doesn't need to evolve to be a better value than gold so it's a confidence gain, people get excited, people get ahead of themselves, people get depressed. if you believe in the long-term and you are holding on for dear life because of volatility, over any two-year period those people have been rewarded >> excited, depressed, angry, that was just the last 24 hours. >> exactly

>> thanks for coming on. >> thanks. still to come, the message from goldman sachs's cefhi equity strategist. big interview with peter oppenheimer coming up. let's begin. yes or no? do you want the same tools and seamless experience across web and tablet? do you want $4.95 commissions for stocks, $0.50 options contracts? $1.50 futures contracts? what about a dedicated service team of trading specialists? did you say yes? good, then it's time for power e*trade. the platform, price and service that gives you the edge you need. looks like we have a couple seconds left. let's do some card twirling twirling cards e*trade. the original place to invest online.

good news on this pre-thanksgiving wednesday wall street pointing to a higher open following yesterday's and monday's selloff in a moment, an interview you

can't afford to mix. goldman sachs chief global equity strategist about what is going on and what you should be doing. retail front and center. gearing up for black friday. courtney reagan is with us live in moments. and a little good news at the gas pump as we kick off one of the busiest travel days of the year buckle up, "worldwide exchange" starts right now ♪ have a great day welcome back thanks for being with us on cnbc i'm brian sullivan as always let's kick off the second half of the show with your executive recap frank holland has that facebook's mark zuckerberg says he will not be stepping down as the company's chairman he also praised sheryl sandberg, the coo, saying she's a great

partner and he hopes the two can work together for years to come. these comments are coming after a "wall street journal" report says that zuckerberg blamed sandberg and her teams for many of the issues plaguing the company. we're still following the latest on carlos ghosn an acting ceo will be appointed but they stopped from removing ghosn as chief executive earlier this week ghosn was arrested by japanese authorities after an investigation at nissan walgreens and humana are reportedly in talks. the "wall street journal" says the two companies are considering taking equity stakes in each other. shares of walgreens are higher in the premarket back over to you >> thank you very much. let's check the other top headlines outside of the world of money and business. phillip mena has that. good morning after surviving one of the deadliest fires in northern

california history, residents are prasing for storms set to pound the entire state with rain a flash flood watch is in effect for the camp fire area while that may help firefighters who have the fire at 75% containment, the clock is ticking for crews searching for survivors, with 870 people still missing and the death toll at 81, the rain could trigger mud slides making recovery and identification more difficult. a record number of passengers are expected to fly this thanksgiving with over 2.5 million flyers hitting the airports today the worst will be the ride back on sunday with more than 3 million passengers expected. plenty of americans have paid time off that they could be taking advantage of this holiday season priceline found 1 in 4 staff members have 9 or more days of paid time off remaining this year however a separate study by glassdoor found workers use only 54% of their eligible vacation time on average.

as a result employees in 2017 gave up over $62 billion in los benefits, effectively donating 560 bucks each in work time. that's according to research by project time off which is sponsored by the u.s. travel association. a lot of americans just don't want to take time off. >> yeah, you have to have somewhere to go. where do you go? where is the mena family thanksgiving >> this year i'm staying in new york usually i'm in el paso, texas. that's where i love to spend my holidays because that's where family is at >> wherever you are. i hope you have a great day with friends or family. see you soon here's how your money and investments look now stock futures are up about 90 points cold comfort for a dow that's been down about 1,000 points in just two sessions. yesterday at one point we were down 632 points at the low still we're up a little bit

today. it's been a rough go let's check the asian markets. kind of a mixed trade. shanghai going one way japan the other. europe a bit of green on the screen, like our futures no big gains across the board in europe at least we are not in the red the recent selloff has many wondering is this just the tip of the iceberg for your next guest this too shall pass think long-term. let's bring in peter oppenheimer chief global equity strategist at goldman sachs do you believe that the u.s. economy will be in a recession either next year or in 2020? >> we do not no this is the central and important point. that people are beginning to worry about this being the end of a cycle

it's ban long economic sieen a . we think the economy will grow but it will grow at a much slower pace. it started growing this year at an annualized rate of 4% by the end of next year it will grow at 1.6. still positive if the economy is positives -- >> why are equity markets acting like we are going in recession >> i think there are a few points first there are some significant uncertainties which markets are focused on in particular the stress we're beginning to see in high yield credit concerns about world trade in europe political risks related to specific issues fund i will what started as a worry about rising inflation and interest rates late in the summer and in september has morphed into a concern that we are at the end of the cycle.

growth will come down a lot. importantly profit growth will come down a lot. that's what i think the markets are responding to. >> i know it doesn't make a good headline, the reason stocks go down is because more people want to sell more badly than more people want to buy that's it. we always try to find a reason why people either want to buy or sell >> yes >> at goldman you guys probably have better data than anybody else why do you think people have been so eager to sell u.s. equities >> well, in part fundamentally there's an expectation of a slowdown if we go back to earlier in the year, particularly in the u.s. as the market was making gains it was getting expensive also cash is becoming particularly in the u.s. more competitive as an asset class. i think it's also worth stressing that many funds, many

investment funds have had concentrated positions in parts of the market that have been winning for long periods of time that meant that as the market came off there was aggressive selling in lots of the same parts of the market. that created its own mini vicious cycle. it's worth emphasizing in the context of this selloff valuations have come down a long way. globally equity valuations have fallen 20% so excessive valuations is now not really the major concern for equity markets it's more about where profits will go from here. >> i'm interested in your words, mini vicious cycle makes it sound like you believe this should be short-lived mini >> well, i think if we look at the fundamentals we believe that global growth will slow next year, but still be positive. the slowdown will be sharper in the u.s., but from a stronger

base and we do think the profit growth will slow if you take the u.s., profit growth has been over 20% this year we think it will slow to around 6% next year and around 4% the year after in all the major regions of the world we think profit growth will be around 4% to 6%. quite low. that reality of a slowdown in profit growth and in activity economically has been at the part of this selloff but a lot of the technical factors which have accelerated the speed of the selling i think are temporary. so our view is that we're still in an upward trend, both for the economies and equity markets, but the overall growth rates are going to slow. and we should expect a relatively low return in equity markets globally next year, but still positive >> before we let you go, give us one piece of sound sage goldman

sachs advice on what viewers and listeners should be doing with their money right now. >> i think it's important to emphasize that without recessions it's unlikely that corporate profits actually will fall without profits falling it's unlikely that you'll get a sustained bear market. so i think this has been a sharp correction, as people worried about the slowdown in growth valuations have improved a lot and i think in the context of that people should look longer term and recognize that there are some value opportunities emerging, we shouldn't expect the strong returns that we've seen in recent years, but i still think equity markets will make progress moderately over the course of the next 12 months >> sound sage advice from goldman sachs and peter oppenheimer. we'll see you again soon take care. >> thank you, brian. up next, bracing for black friday do you have the sharp elbows out? preps under way for one of the biggest shopping days of the

year everything you need to know before you bundle up and head out to the stores. courtney reagan is standing by in secaucus, new jersey for you. diamonds in the rough. amid the selloff we found some stocks that have done well maybe stocks to be thankful for. orwi en ow you those names whe "wlddexchange" continues fundamenta

good morning stock futures are up, but only

up 69 points the futures market has not been a great indicator. we were down yesterday, but not down 600 points like we were at one point yesterday. we lost 1,000 points on the dow in just two days however there are still some green shochutes out there, stocs to be thankful for perhaps because not every stock is down. we dug into our data and brought to you some cnbc names that have done well in the last month. comcast is up 2% not a lot, but up 2% is the new up 20% apparently. pepsi up 5%. intel up 8%. in the last 30 days, ulta beauty up 11% starbucks, we talked to you about them, jim cramer has been talking about starbucks, that stock up 14% and elon musk, he is giving you something to be thankful for tesla shares up 33% over the

last 30 days so not every stock everywhere has been down. thanksgiving this year falls on the earliest possible day there's extra time to shop this holiday season dozens of retail chains including best buy, target, jcpenney et cetera will be open several hours tomorrow before turning the lights on early for black friday more stores are offering daily door busters deal online and with the option of picking them up in the store. those stores in various towns will be closed on thanksgiving all due to local laws prohibiting shopping on thanksgiving what do you think? good idea? nice idea. preparations overall for the big shopping event are under way, so much so that courtney reagan apparently slept at a kohl's store in secaucus overnight to bring us news and good tidings or to get a jump on the deals which is it?

>> a bit of both a lot of cozy stuff here, but it was easier just to sleep here it looks quiet here now, but the store is not open. 36 hours from now kohl's will see the heaviest traffic it will see all year because its door buster deals will start at 5:00 p.m. on thanksgiving day the store is going to stay open until midnight on black friday all the way through. some of those early deeals are already available online it's expected to be a big weekend. 164 million americans are expected to shop in store and online black friday is still expected to be the biggest day, particularly for the stores. now it takes an awful lot for a retailer supply chain, stores and website to prepare to handle this huge influx of shoppers

that come during this weekend. you have to get the right product in the right quantity to the right stores and distribution center. and none of that is a small feat that's after was has been decided to be those door busters. in many cases a year in advance or more. retailers have to lean in to their stores more to make sure they can fill those buy online and pick up in store options inventory becomes increasingly more important kohl's ceo says 50% of america actually shops at kohl's during the course of the year 40% of the digital orders are fulfilled from stores, but during the holiday season that ramps up to 50%. so inventory becomes more important. brian? >> courtney, i will ask you this because you know everything retail i see this everywhere you go on the internet you see the same thing buy online and pick up in the store. it's like they're trying to -- i feel like they're trying to

please everybody it's like whatever you want, we got. does anybody do that buy online an then go to the store and get it >> yeah. it's -- they do. kohl's expects that it will fulfill 5 million units that were bought online and picked up in store in november and another 5 million in december. that's 10 million products bought online and picked up in a kohl's store the retailers like that too because you're doing the work of getting that last mile home. they got it to the store on a big truckload, but the customer walks in, picks it up and takes it home. a lot of the time, a third of the time or more, customers then pick up an additional item when they buy online and pick up in store. that's the trick >> so about 30% of the time they come in to get the thing they bought and then they buy other stuff. >> yep you know it. >> what's on your list

what can we get you? >>world peace. sleep. you know, things like that >> this is "worldwide exchange," courtney what does sleep mean there is no sleep. sleep it for the weak. >> this is true. >> i might be stuck in secaucus tonight, i'll come see you let's find out what becky quick -- becky quick, deeply personal question. >> that could be anything from you. >> have you ever bought online and picked up at the store >> no i was going to jump in on this conversation. i'm with you on this i am totally with you on that. i would never do it in a my onyeo million years. i have talked to walmart and they say people like to do it. i started thinking about it. when i was on maternity leave and there are times it would make sense a lot of times the baby is falling asleep, you don't want

to get out of the car, at walmart they bring the groceries out to you they do say it's popular in a lot of places where people are doing just that. they're driving up with the kids, they won't get out of the car. >> are they doing that >> yeah. >> we both have young children for some reason. >> right >> that the the worst thing. there's no way i'm getting my 4-year-old out of the car seat to go -- >> no. >> i'm not taking him into the store. he'll destroy the store. >> so you can do that. that's a situation you might use it there's not a walmart near me, so i never ended up using it, but that's the one service, if you bring it out to my car and load it so i don't have to wake the kids, that's something i'm down for >> every parent knows what we're talking about. don't touch the kid if they're asleep you have a show coming up. >> oh, yeah. we have other stuff to talk about. with the huge market selloff we've seen, all the concerns, people wondering if this is a

bottom or the beginning of something worse. we have a lot of answers -- we hope we have some answers. have you ever heard of ni niga aurora? >> no. is that a constellation? >> no. he has the aurora report he called not only the trump election, he called that trump would likely be elected and he called that the market would trade higher as a result he also called that brexit would pass and that he would be watching everything that happened with that he's made some very good market calls. he has some thoughts today about what's happening with the breakdown in technology. specifically with apple and he kind of looks at the fed as being the real resolution with what's going to happen next. also we have mark grant who will join us to talk about the atlanta fed cutting their fourth quarter gdp. lots of things coming up with that i hear you playing the music you can take your show back.

>> real world advice in a time of need. becky quick, see you in a few minutes. on deck, some good news at the pump talking about gas prices nationwide stick around something is transforming and our world.. it's the longevity economy - americans 50+ driving 7.6 trillion dollars... of economic activity every year. right before our eyes, aging is unleashing exponential growth... ...in every industry. are you ready? we are. a-a-r-p is teaming up with business leaders and innovators... ...sparking new ideas and real solutions. so, what are you waiting for?

a bit of good news if you're hitting the road this weekend. i understand some of you may be traveling today. pump prices are falling. the national average for a gallon of regular gasoline is $2.61, down about 25 cents from just one month ago let's bring in dan mcteague from gasbuddy.com we all know, if you watch cnbc, you know oil prices have come down what's the lag time generally between crude oil, the commodity input, and when we see it at the gas station? >> it usually is 7 to 10 days. that's working either way.

we see prices today, $2.61 a gallon, down 25 cents on average compared to last month took about ten days to work its way to the pumps, especially after the holiday. if you look at how this sort of works, we sometimes see retailers who have dropped their prices to such a point that it's almost impossible for them to recover any type of costs associated with running a gas station, they might come friday and saturday drop prices further. the other shoe has yet to drop as we saw the liquidation of crude prices yesterday, i would expect around the 26th or the 27th we'll see those prices bite hard that will make even more consumers and drivers that much more happier >> are you surprised at what crude oil prices have done >> very much so. know he wasn't in league with those who thought we would see $100 crude i did sense there would be firmness at the $75 range, especially for wti

but i think the collapse related to things that may not have anything to do with fundamentals there's a lot of conflicting information. the iea, the international energy agency saying we're at a critical capacity issue. we may very well find ourselves, you know, strained with production here in america the next several months. one would have thought that given the global demand is still fairly strong these prices would have held up the fact they dropped so dramatically and distinctly is probably a sign that they are likely to come back up >> all right maybe they won't last, but we can enjoy them while we got them everybody will be burning carbon sitting in traffic jams today in america. i'm the bearer of good news. dan, thank you >> absolutely. happy thanksgiving >> see you soon. wrapping it up with the morning rbi. tomorrow you better put on a wool hat an arctic blast will sweep

across the northeast this could be close to the coldest thanksgiving on record for several major cities look at that possibly 3 degrees in syracuse it's always 3 degrees in syracuse happy thanksgiving leave your data protected on-site, and put it all to work with ai. the ibm cloud. the cloud for smarter business.

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good morning green arrows a little bit u.s. stock futures pointing to a bit of a bounce after the dow dropped 500 points yesterday like 1,000 points in two sessions on a percentage basis not what 1,000 points used to be oil prices bouncing back this morning the energy sector coming off its worst day in nearly four weeks. and speaking out mark zuckerberg is defending his company and its leadership during the recent turmoil. that stock sort of held its own yesterday. we'll bring you his comments

straight ahead it's wednesday, november 21, 20 2018 live from new york where business never sleeps, this is "squawk box." all right. good morning welcome to "squawk box" here on cnbc we are live from the nasdaq market site in times square. i'm becky quick along with joe kernen and andrew ross sorkin. let's look at u.s. equity futures. it's been a rough week so far. dow is down 950 points for monday and tuesday sessions. right now we are indicated up by 65 points. nasdaq is indicated up by 37 points after its rough sledding over the last couple of days, down 1.7% yesterday, down 3% the day before s&p is indicated up by 8 1/2 points if you look at the damage at this point