>> thank you >> have a great thanksgiving power lunch begins right now thank you, brian, stocks are slightly higher. we have the 10e-year yield at 1.76 right now diana olick is in washington with the fed's beige book reading. >> reporter: moderate economic expansion. the main theme of this beige book until manufacturing, les optimism in atlanta with contacts still mentioning trade policy as a down side risk to their outlook. new york was the only outlier, reporting little to no growth in the economy. overall, most districts reported flat to higher home sales with more growth in construction. the district was a standout with very strong home sales despite weakness in the energy sector. employment rose overall. with scattered reports of labor

reductions in retail and wholesale trade. most districts continue to report trouble finding advocates. they span most industries and skill levels wage pressure was strongest for low skilled position one provider of business security services in seattle reported labor costs are the highest in the company's history. and in chicago, there were multiple reports of companies big back retired workers to build a gap. most districts supporteds moderately slower spending dallas did note stores near the mexican border continued to be challenged consumer spending was mixed with weakness in retail, and prices rose modestly, with retailer reporting higher costs due to tariffs. sales expectations were optimistic for the holiday season in the boston district. one retailer reported that import duties on some european luxury goods were going way up this is the last phase of the report for 2019 so sorry

>> thank you so much >> diana olick reporting from washington steve liesman is alongside us now. zbrl i think she hit the high point that you have this modest to moderate growth trade is one, and the tight labor market is another. i didn't like some of the stuff a little later on, she talked about, which was the weakness in retail >> it's not just diana >> no, no, no, don't get me wrong. let me just pivot from that -- it's throughout the beige book, it's been for a while. who's winning and whose losing on the left side you have the tpt coming in two points higher. in any event, industry in china

is down. exports down 17 straight monthly drops. it's a little more even than maybe that appears here's the uspmi in the next chart, versus the chinese purchasing manager's index you can see in this next chart we're down quite a bit and they're down not quite as much there you go, bottom line, both are negative i look at a chart like this and ask the question >> both below 50, who area winging the trade war? we're both losing. >> who's losing least? >> i have some numbers i can put to all of this >> take a look at the change in imports and exports by percentage terms, we're actually -- our exports to china are down more as a percentage than chinese imports are to the u.s. >> are you with me on that >> i got it.

now take a look at a percentage. dollar amounts huge, $53 billion of imports from china were down year to date january through september i think those two charts, actually, all three charts tell you why they're closer to a deal we're hurting, maybe not as much as the chinese, but we're hurting. the chinese are hurting mooar in dollar terms we're hurting more in percentage terms. >> how much do you believe chinese data >> i don't think anybody believes it's reliable i think if you call up that first chart. >> if we compare pmi's in china and pmi's in the u.s.? >> i think they're private sector >> are ours better >> that's a private sector number >> if you look at the idea that they reported that it's negative i think there's some truth in that, which is to the extent

that if there were really going to lie about it, you would make everything rosie i trusted direction ali, though not perhaps magnitude. everybody has a problem with the chinese data, nobody believes it but i think if you look at gdp for example, which is come down 7, 6, 5, i think people believe they direction ali it's accurate >> thank you, sir. >> let's get more reaction to the beige book what it all means for the economy and markets. phil has asked that allegation strategists asset management is a chief economist with steeple you've been bullish for a long time what does this beige book tell you. steve did a nice comparison. what does it tell you? >> it soundslike the fed right now, where there's a high bar for them to do anything. either hike or ease. what we're thankful for this

holiday season, is that the equity market are not bullying the fed into taking rates all the way back to zero they said mid cycle adjustment in their last fed meeting. if they would have said that eight weeks beforehand they would have been down five points >> they did. didn't that say that effectively? it they cut rates in july. this is a mid cycle adjustment >> they got hurt for that. >> by october, the equity market continued to run durable goods is a very volatile -- >> you want to see resiliency there. but i like the way business has started spending in this latest course consumer is doing all the heavy lifting. but core capital shipments and orders, so that excludes defense and aircrafts were the strongest since january. now, not super strong, but it shows that businesses are starting to spend. this is important.

the consumer can't last this way forever. in terms of the trade war, i think if it involves layoffs or it involves a spike in interest rates, those are the two things that we get our attention. >> because it hurts the consume summer. >> yes, the labor market is super tight here >> does the beige book back up your thesis that the fed is misassessing the economy in terms of its strength? >> i think it does the beige book is showing again that the u.s. economy is moderate at best this doesn't support the thesis that the fed has been putting out there, the economy is on strong footing and will continue to remain on that strong footing, thus allowing the committee to remain on the sideline presumably. as we look out to the end of the year and 2020. what we're seeing is evidence of ongoing weakness we saw the weakness talked about in the consumer sector, specifically the retail sector, the consumer has been the sole support to the economy for the past six months. when we look at the composition

you're still talking about the consumer caring for the economy. now we're starting to see some of that weakness filter into the labor market there's a lingering skills mismatch some employers are having a difficult time filling those positions. that's one component what we're still seeing is a lot of hesitancy on the part of businesses to expand and grow and take on new employees. that's going to continue to put downward pressure we put on wages which have already flat lined. there is a lot of weakness in the fundamentals, the fed may be over looking as they're seemingly very comfortable with the three rate cuts we've seen so far >> they're comfortable, though, lindsay. you cannot argue the labor market is very, very strong. i can't argue. maybe you can. >> there are parts of the labor market that are strong when you talk about a sub 4% employment level, that feels very good.

as we heard from cash carrie out of minneapolis, he said the unemployment rate is a worthless number, you have to add in all the dropouts when we add them back in, that unemployment rate pushes closer to 7, 8% that tells a different story of what we're seeing in the labor market i think there's a lingering disconnect between what the civilian unemployment numbers are telling us, and what we're feeling out in the labor market. >> do you think there's a recession on the way, lindsay? it soundses like it? >> i don't know if we can see a tech nickal recession. but i certainly see the economy waning and losing momentum and arguably, the bigger concern is not falling into recession, but going into a period of anemic growth where we're unable to get gdp back above 1% >> is this a market meltup that's a trade or is this a continuation of an actual rally.

>> the trade is still higher in equity if you don't see the s&p 500 going up by 20%. i think all of the cash on the sidelines that you're seeing continues to be a meltup story also, it supports pe's, price to earnings, what investors are willing to pay for earnings. if you go from 17 times to 18 times on the market, that's worth 5% in a world where trade is not escalating and in low rates, that supports multiples at these levels with a little bit of earnings growth. the way you get real double-digit returns on the market is if you get growth plus earnings you still get multiples. >> thank you >> to the bond market we go. in light of the beige book report, rick, what did you see >> the maturities, 2, 3, 5, 10, dollar index the dollar index weakened ever so slightly, it's still up on

the day. two note yields dropped. there is a big lingering issue with regard to the fed and the fact that the next meeting, of course, most likely will continue to pause. we had the last drop at the end of october let's pick the end of october. we can pick any combination of yield curve spread 10s to 2s, 30s to 10s, 10s to 5s at 14. the point of those charts is, that the curve is flattening, shorter maturities are much stickier than longer maturities. on a day like today where rates are still higher, it really is significant that even as the data picks up, atlanta gdp improves we have a nice proxy for business spending today, the ultimate feature is the fact that the pause looks to be on for several plus quarters. melissa lee, back to you >> coming up, bitcoin back today

after its worst month of the year the man some called bitcoin jesus will join us to talk about the china crackdown and more we're a couple days away from black friday, one of the biggest days of the year for retail, with black friday promotions on line, seemingly all year round, has the day lost its luster.

we are just two days away from black friday. with discounts starting earlier and earlier. some say the shopping frenzy isn't what it used to be nearly 115 million people are expected to shop on black friday that would be down slightly. 116 million last year, but who's counting our next guest expects a massive black friday and a strong holiday shopping season jerry is the former ceo of toys "r" us, and currently the ceo of store much adviser you say nay to the black friday doubters >> black friday is bigger than it ever was. those who say it's smaller are being overly punctilious with their dates. now it starts in most stores on

thursday now it starts in the evening, the online deals are available usually now tonight. wednesday night at midnight, you know, into thursday, thanksgiving all that's happened is, the event is bigger than it was. now a lot of them take place thursday in total, it's a huge event. it's still vitally important to the success of all retailers >> it's spread out by days, method of shopping, it's spread out over time. let me -- before we go any further, i'd like to get your reaction to what toys "r" us is doing opening the new store in paramus. what do you think? >> i think it's great. i wish them well richard barry who runs that, highs a great guy. these are small stores, that's nothing like the old toys "r" us there's no way they're going to

have the kind of market share that toys "r" us had we're talking about a 6,000 square foot store. most of the shopping will take place on line at target's website of all places. generated from these stores. it's a different kind of a take, it's nice to see the giraffe lives. >> consumers have a choice between going on line or going to the store for the retailer, that's a more costly purchase, isn't it? i mean, the fulfillments of it, takes away from the margins, is there anyway, or do you see any retailers leveraging the power of discounts or promotions to get people to go to the store or pick up in store or do something where it cuts the cost of their fulfillment? >> there's some retailers that do a fantastic job at this walma walmart, target. they're thriving on line and in store. either you pick it up at the

store or they have same day fulfillment from the store to your home. they have done a great job of merging the brick and mortar and the internet they're doing very well. tjmaxx, ross stores, burlington stores are thriving. dollar general is thriving, the ones that are really taking it on the chin are the mall based players. the world's just moving away for them too fast for them to keep up and i think they're in big trouble. >> name the names there, is it gap, jcpenney, the usual suspects >> you did a very good job i would say any mall based apartment store. look at the numbers that came out recently some of the stocks went up because the expectations are so low. nordstrom said they were 4%. that's terrible, right >> they were in the off-price. not to be horrific, but it is bad. they're the best player, they're

the quality active in the field. macy's numbers were horrific, and it's one of the worst stocks in the entire stock market this year kohl's find they're caught in the middle, they're kind of a department store, middle market player they're not in the mall necessarily, but they're not succeeding, because no one needs a department store any more. and apparel sales are flagging best buy had fantastic numbers compared to other sectors of a retail economy overall, the consumer is strong, she's just changing where she shops and what she shops for >> i love that line or maybe i don't love it, but i'm intrigued by it, no one needs a department store any more if no one needs a department store any more, where are you going to go to buy the things that you used to buy in a department store you're going to go to single line or more mono line retailers? you're going to buy your make-up from a make-up store, your appliances from best buy

your clothing either online or from the brand's store whether it's levi's or whomever. >> you got it. and much more obviously. and apparel, there's a huge deflationary trend you and i are wearing suits today. most people are dressed casual even if they're at work. there's a huge deflationary trend in apparel you don't need the department store for that any more. if you want fancy stuff, you go to dedicated players and get that there it's heavily an apparel based story in department stores home goods are the dominant domain of the discount players walmart, target and costco, they have a larger share there of any category at all. they're going to take over that kind of -- >> the whole idea of a department store used to be to get everything in one place. you can do that now with something called the internet.

>> my wife's favorite store of all is home goods. while you and i do wear suits, this may be too much information. but i'm wearing jeans today just for the record >> oh, yeah, you are >> i'm proud of you. >> have a great thanksgiving >> for more on the six retailers to watch over the holidays go to cnbc.com. coming up, why the faa could be putting on the brakes to get the 737 max back in the air early next year. tesla shares have been rocketing higher up until this week's cyber truck launch. power lunch will be right back donald trump failed as a businessman. he borrowed billions and left a trail of bankruptcy and broken promises. he hasn't changed. i started a tiny investment business, and over 27 years, grew it successfully to 36 billion dollars. i'm tom steyer and i approve this message. i'm running for president because unlike other candidates,

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no commission. delivery drones, or the latest phones. no commission. no matter what you trade, at fidelity you'll pay no commission for online u.s. equity trades. tesla losing speed by this afternoon. cyber truck orders had reached 250,000. the electric automaker looking to close out the past three months on a tear let's bring in your trading

nation team today. craig, wage it's really moving on the cyber truck expectations or something else going on it's been a real great month it's around 329 or so. how does that set up on the charts >> right, mike, not only has the glass on the new truck been a turkey, the stock has been a turkey year to date with the stock down 1%. the stock essentially stuck in a trading range between 240 and the upper end of the range at 385. for my perspective, the stock has had a huge run up. it's gotten to be short term overbought waiting for the stock to come

back down to 290 at minimum. >> if it backs off a bit from here, would that interest you at all? >> if the stock pulled below 300 a share, we'd be willing to take a look at it >> this is more of a side show here elon is tweeting about orders. to get an order down, you only have to put $100 down. we won't know if cyber truck is going to be a hit until 2022 it's a long way off. that design is weird, it's only going to be a niche market what i do like in the story is what's happening elsewhere their total vehicle deliveries -- their revenue is scheduled to grow 20% for the next several

years, they're going to have positive earnings next year. in 2021, they're forecast to earn $10 per share this is a story where i think the rest of the business is moving forward it's actually starting, you couldn't even think about valuation in the past and now you can. it's a gross story around 300, i would be willing to take a look at it >> seems like there's a lott of forward expectations built into it thanks a lot for joining us today for more trading nation, follow us on our website or twitter. >> thank you very much, and happy thanksgiving >> boeing hits another obstacle in returning its 737 max to service. why the faa plans to inspect and sign off on every single jet before delivery.

plus, crypto getting crushed this month but is its resurrection on the way? bitcoin jesus roger burr joins us next to discuss and robin hood abandoning its ambitions to take on wall street the details when all of power lunch continues.

i'm a regular in my neighborhood. i'm a regular at my local coffee shop and my local barber shop. when you shop small you help support your community -

from after school programs to the arts! so become a regular, more regularly. because for every dollar you spend at a small business, an average of 67 cents stays in the community. join me and american express on small business saturday, november 30th, and see how shopping small adds up.

welcome back, everybody, i'm sue herera here's your cnbc news update at this hour. the death toll from tuesday's earthquake has now reached 26. 650 people were injured and rescuers are still digging through rubble in search of

survivors. the detergent manufacturer e cover has partnered with the world's largest brewer to produce dishwashing liquid made from leftover alcohol suds with the possibility of alcohol free beer, they decided to upcycle to develop the too good to waste detergent americans will cook and carve 46 million turkeys this thanksgiving, and butter ball will once again be there for you with the turkey talk line. ever since 1981, butter ball has staffed a toll-free hotline to ask questions on cooking your bird santas are prepping in london, the ministry of fun is hosting the 23rd annual santa school making sure they have the perfect father christmas outfit. >> you're up to date

that's all for this hour let's take a look at where the markets are now, as they move and pulse ever higher taking a look at the dow, which is about 45 points the s&p 500 up about 4/10 of a%. the russell 2000 up nearly 10 points at 1633 time for today's power mover shares a dear dropping today, for the 2020 fiscal year sighting lingering trade tensions sales are expected to fall as much as 15% next year. next step, shares of auto desks -- the company issuing weaker than expected guidance for q 4. analysts all hiking their price target after earnings to stock up 4 and a quarter percent aurora lights up on green wednesday, that's the holiday when many users stock up before the long family and food filled

holiday weekend. today is also the grand opening of aurora's 11,000 square foot shop in west edmonton mall stocks up 4%. the oil market is closing for the day, let's go to the cnbc commodity test. >> oil prices continue to be under pressure after that government data today showed an unexpected increase in u.s. crude inventory. they rose by 1.6 million barrels for the week the expectation had been a decrease of 400,000 barrels. international benchmark. suddenly around 63.99 a barrel or close to 4/10 of a% west texas intermediate down to 58.01. the one thing that's lending support is the u.s. china trade.

boeing looking to get the 737 max back in the air early next year. phil lebeau has all the details. >> this is the third time in the last two weeks we heard from the faa about whether or not boeing should slow its role when it comes to getting the 737 max back in the air yesterday. it sent a letter to boeing saying, when it comes to certified, the 737 maxs are built in renton, washington. things are going to change in the past, when it comes to air worthiness certificates, and every plane has to have one. they could do a number of these planes rather quickly. this time the faa is saying, we wanted our people. we'll sign off on those certificates individually for each plane approximately 350 of these maxs are built and are awaiting a delivery there's no time frame for approval in a statementyesterday the agency said it will not approve the aircraft for return to

service until it has completed numerous rounds of rigorous testing. the faa will take all the time it needs to ensure the aircraft is safe. by the way, boeing says it's sticking with its guidelines and it's guidance i should say, that it will be having a certification of the max in december a lot of people in the industry and when you talk with folks, tangentially attached to what's going on with the max. they're all saying the same thing, a lot of hurdles need to be cleared a lot of people are questioning whether the max can be certified in december, whether it gets pushed back into january guys, back to you. >> thank you very much >> with the faa saying again that the boeing max 737 is not ready for certification and has no time line yet, where does it leave boeing in its goal to resume commercial service with the planes by the end of january. with us now is allen deal a

former investigator at the ntsb. welcome, good to see you it does not look despite boeing's stations to the contrary, that this aircraft is going to be ready to go back into service any time over the next 60 days, does it? >> i don't think it will be. the process that boeing -- that the faa is going to go through involving the human factors of verification testing, and this time they're going to use line pilots, typical pilots, not boeing test pilots and faa test pilots they're going to get this right and they have to analyze the data, and issue the report and wait for public comment. i wouldn't -- if i were a betting man, i would not expect this certification, this air worthiness directive to be issued for another three months. the other thing is, i'm convinced the faa wants a buy in from their counterparts in

europe, canada and around the world, literally as well as from the airlines, the unions and the flying public that's what the public comment period is for after all the homework is done it will probably be a while before this plane re-enters service. and from what i've read, it appears that somewhat atypically, other air certification authorities around the world are less likely now maybe than normally, to go along with what the faa says, they're going to want their own proof, am i right about that? >> absolutely. and that's, of course, why the faa after they do their homework is going to issue the report, wait for comment and i'm sure they'll be lobbying the other. the counterparts around the world to try to convince them that all is well and this aircraft can be safely returned to flight. i've personally got a couple of concerns i think there's a couple things that need to be

done before these planes fly in. >> one of the questions is whether this -- the whole computerized system that was at the heart of those two air disasters really ought to be in this aircraft at all is it an improvement over what had been the case or how does it need to be further improved so that it is not only safe and reliable, but not so confusing to pilots? >> you hit the nail on the head, one of the things if i were still in faa headquarters as the human performance scientist there. i would be advocating they install oral alerts. we've all seen the movies where the automation says whoop whoop pull up, you're getting too close to the ground. they have that, of course, but they need two additional alerts. automation is not transparent and if the angle of attack sensors are aligned to the

computers, there nieds to be a recording which says aol, sensors fail that's what happened at least in the indonesian crash and probably in the later ethiopian crush. when the so called m-cast, the augmentations shoves the nose forward, the pilots need to know that, it's very difficult to try to troubleshoot during an emergency so the automation in my opinion should be modified to include those two oral alerts. if i were in headquarters, i would be lobbying for that >> a lot of airlines are telling flyers, investors that the return to service date on the 737 max will be somewhere around the first week of march. and in your view, is that too optimistic >> it's probably slightly optimistic again, it's going to depend on the reaction of the stakeholders, the unions, the airlines, other regulatory authorities. once they do this, detailed

human performance testing, they're going to have to wait for comments and if there's a lot of yeah buddy, it may be later than march. >> thank you very much alan deal. up next, the man called bitcoin jesus. what does he make of the crypto wrrency heill walk across water to join us next it is nice. his haircut is "nice." this is the most-awarded minivan three years in a row. the van just talked. sales guy, give 'em the employee price, then gimme your foot. hands-free sliding doors, stow 'n go seats. can your car do this? man, y'all getting a hook up and y'all don't even work here. don't act like i'm not doing y'all a favor. y'all should be singing my praises. pacificaaaaa! with employee pricing, get $4,107 below msrp plus $1,000 bonus cash

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growing regulatory concerns and crackdowns in china, sending bitcoin cash down more than 20%. bitcoin is bouncing back slightly today have we hit the bottom >> joining us is bitcoin jesus, the founder of bitcoin.com it's always great to speak with you. >> the last time we spoke, the backdrop was very different in terms of the price and where it is now what do you make of not just the decline month to date, which

would be its worse since november 2018. just the decline since the record highs >> i don't think it's fair to look at it that way. >> bitcoin cash and bitcoin are up by double in the last year, and they're up a couple thousand percent over the last five years. they're here to stay, not going anywhere the one that's -- the really interesting one is the bitcoin cash it has the ability to go up 1,000 times. and has more physical shops around the world there's more infrastructure built on top of it it's one of the greatest investors ever said. they're fearful when others are greedy i think that's true in general and specifically true about bitcoin cast >> one of the original investors, but switched your allegiance if you will to

bitcoin cash it's built for transactions, it's less expensive, et cetera have we seen yet the differentiation in terms of usage between bitcoin and bitcoin cash that you had predicted? >> no, i think it's still happening, so from my point of view, i didn't switch anything the thing i got so excited about when bitcoin was less than a dollar, was peer to peer electronic cash for the world. you could send a receipt to anyone anywhere and there was nothing anyone could do to stop it it's still completely true about bitcoin cash today it's no longer true about what everyone's calling bitcoin it's this brand. but the actual technology that works, made bitcoin to begin with is now called bitcoin cash. the smart money is putting their money on bitcoin cash. what everybody's calling bitcoin today is bitcoin in name only. the technology and user experience that made bitcoin popular to begin with is called bitcoin cash

5 1/2 million users -- it has the ability to make every person on the planet's life better, and when someone's life is better, they start to use it, that's why you have tens of thousands of new signups every day. >> you're spending lots of money to develop an ecosystem for bitcoin to be used how is that going? what's your prediction in terms of usage based on this ecosystem? >> so you have to build the tools in order for people to be able to use it, we deployed that money starting in 2020, and we're going to build the infrastructure to enable people all over the world to start using bitcoin as cash. one of the first examples is the cell phone manufacturer. they're preinstalling our wallet to ship. and we have ordeals with other household names just like that where you're going to see more cash in brand new devices shipping right there from brands known around the

world. all the adoption in commerce is happening on bitcoin cash, i think that's where the smart money is going to be looking in 2020 >> nobody can stop it from being used, what we've seen in terms of the decline most recently in bitcoin and crypto in general is china coming out, cracking down on bitcoin trading we saw the ensuing decline in the cryptos. it sounds like the government can at least make it difficult for crypto to be used. would you at least acknowledge that the government could play a role as we're seeing it born out? >> that's the only thing governments can do if government wants to make things better for people in their lives, it's got to get out of the way >> that's got to be part of your thesis an acknowledgement that your thesis isn't an airtight one, in terms of nobody can stop this thing from being adopted >> well, the government can shut down ford motor company over

night. the government cannot shut down crypto currencies overnight. they can make it difficult but they cannot shut it down >> one of our platforms that allows anybody to buy or sell any amount of bitcoin cash for any payment method with no kyc, our transactions went through the roof with usage from china that's an example. that's what makes it so exciting >> you're at an undisclosed location, correct? >> you're afraid of the haters >> i'm in the british virgin islands today. >> roger, thanks for joining us, appreciate it. >> thank you, melissa. >> hopefully with plenty of bitcoin in his pockets coming up on the tasting menu, underarmor upgraded. the irish man released and what a difference two tenths of a second can make

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plan has been suspended. >> applying with the occ earlier this year to become a federally insured bank that would have allowed it to take customer deposits instead of relying on a partner bank, which it does right now. robinhood spokesperson telling me it was voluntary but it highlights a struggle a lot of tech companies are facing. only a handful of new banks have been approved since the financial crisis square has been going on for a few years. tech companies are still able to offer many of the products as wall street firms. banks handle the customer deposit sbts tech company is handling the app and user experience apple and goldman sachs, of course, were the first high-profile sample of this. the team work we saw with the apple card and then google and citi group are launching a google brand and debit card.

back to you. >> thank you very much we appreciate that, kate. >> a taste of some of the other stories we are following today under armor may be retail's next underdog, shares climbing 5% after raymond james upgraded that stock saying they're on the cusp of a multi-year growth cycle, dipping 10% since founder and ceo kevin plank stepped down last month here are two cheers for underdog under armor. >> not just a change in management but also a disclosure of an accounting issue. >> inventory recognize igniti no and things like that. >> you would have to call in the management. >> and the board's oversight. >> exactly. netflix's biggest ever film is available to streamers after a limited run in theaters.

it might be the catalyst that the streamer needs netflix on track for its best month since january. 3 1/2 hours. >> 3 1/2 hours >> long time. >> i would rather watch it at home where i can pause it. >> me too. >> and come back and watch de niro at all in what is clearly a fine cast. the story duke men's basketball team suffered basketball's perhaps biggest upset in 15 years. that's arguable as a virginia fan, remembering what happened to them in the first round of the tournament a couple of years ago. the stephen f. austin lumberjacks beat duke 85-83 in overtime, the loss ended duke's 150 home game win streak there may be no harder place to play on the road than cameron

indoor stadium last night stephen f. austin showed that it can be done. >> did you see the time left on the clock? >> how he timed it. >> it was like one second. >> to kiss it off the backboard, ill rafferty would say. >> check please. that's next. ♪ ♪ ♪ ♪ ♪ ♪ don't get mad. get e*trade, dawg.

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we started the show talking about who is suffering more in this trade war, whether it be the u.s. or china. something we didn't get to hit in today's hour, deere shares are down, citing the trade war as well as weather hurting the fourth quarter earnings. this is a poster child of the trade war, feeling the brunt of it this is one worth watching here. >> and we'll watch over the weekend for signs of trade progress or stymied trade progress our producer, stacey, suggested we talk about the things we won't talk about at than thanksgiving number one, politics, and number two, immigration, closely related. number three are the new york mets, lot of new york mets fans in my family we don't go there and ohio state versus michigan, we have a divide there as well. >> so politics will be a big one? >> off the table. >> once upon a time it was bitcoin. do you remember that >> yes. >> two years ago.

>> i thought bitcoin was so two years ago. >> it was two years ago. that's when the run was. >> people would come to me and say what should i do about bitcoin? >> i wonder what the topic will be this year if there is one like this. >> happy thanksgiving to you as well. >> happy thanksgiving to you. >> "closing bell" starts right now. >> welcome to "closing bell. i'm morgan brennan in for sara eisen. shares of deere on that weak outlook and u.s./china trade war. we've got 59 minutes, though, left until what's looking like another record close for the major averages on this thanksgiving eve. >> good afternoon, everyone. i'm wilfred frost. let's look at what's driving the action today strong economic data another positive signal from business and the consumer. stop me if you'v