♪ it is 5:00 a.m. here at cnbc and here is your top five at 5 will it be a december to remember for the markets and your money or like last year another one to forget. wall street bracing. the clicks have it, online crowned king once again. the holiday shopping season rolling on a winter weather alert thousands of flights delayed hundreds cancelled freezing temperatures, snow and wind all reeking havoc on the holiday commute. another day, another trade deal debacle what china is now asking fro the u.s. in response to that pro-democracy resolution signed by the president last week

and is there no stopping the house of mouse another box office record for disney we'll tell you about that and more as "worldwide exchange" rolls on right now ♪ well, good morning, good afternoon or good evening and welcome from wherever in the world that you may be watching i'm brian sullivan all right. it is nasty in the new york area i don't know how else to put it. it is cold it is rainy. it is even snowy wherever you are. in fact, careful on the roads out there. the drive in this morning was a little bit slushy, little white powder on the road you have to be little careful out there. by the way, it's notonly the final month of the year, final month of the decade. wow. futures, they're decidedly warmer than the weather, dow futures up 100 points right now, up 128 gaining little momentum as early as it is. do you remember what happened

last december? remember all year pretty much higher on the year heading into the month only to have the worst december since 1931. that sent stocks lower on the year in fact, last year was the worst year for the equity markets, really in a decade for the major averages something to watch for this december we'll get into that in just a bit. bond yields on the rise, benchmark ten year at 1.85%. around the world now, where it was another solid session all around in asia the japanese market rose just over 1%. china's two main markets also higher you had some positive manufacturing data out of china. we'll get to that with eunice yoon in just a moment. europe noticing a trend on the move higher as well. the major average there in the green a lot of strength all around the world the last three months or so as always, more on all that ahead. right now a quick morning summary of a few other big stories to watch to start your workweek technology back under fire eu regulators are reportedly

investigating google's practices. data related to local search services, advertising and online ad targeting european competition commissioner has handed down fines totaling nearly $9 billion to google in just the last two years. you have to watch oil today and this week. two big stories there ahead of this week's opec meeting number one, saudi arabia will push for an extension of the opec production cuts longer than expected perhaps through midnext year according to "wall street journal," it is tied to effort to prop up oil prices and try to support saudi aramco's pricing on thursday. iraq formally accepted the resignation of its prime minister oil is higher by 2.5%. just a reminder that opec meeting begins on thursday a lot of story lines there, and we will be there for you also, developing story we're following out of china

it's foreign ministry says it is suspending visits by u.s. military ships and aircrafts to hong kong. comes in response to legislation passed by lawmakers here that support the protesters in hong kong last week china warned of, quote, firm countermeasures if the u.s. continued to interfere what they view as china diplomacy. helping the global markets this morning, aforementioned economic data out of china came in fairly positive manufacturing numbers surprising some investors eunice yoon from beijing appears that both of our economies just kind of continue to chug along despite this trade war. >> yeah, that's right. the november pmi came in better than expected. the private index which tracked some of the smaller companies here and their business conditions came in at its fastest pace in three years. showing that manufacturing is on a pretty steady footing. especially after the weekend

numbers also showed that the official number showed that a manufacturing was looking pretty good and the non-manufacturing index also came in better than expected from an eight-month low to an eight-month high all thanks to a rebound at least in terms of manufacturing sector in new orders as well as output now, most economists here still believe that the outlook is looking relatively shaky they're a little concerned other all the uncertainty over a trade deal now it looks as though those stronger numbers could potentially give the chinese negotiators a little bit more -- strengthen their belief that perhaps they could wait things out for better terms on a trade deal >> all right let's talk about trade because also new this morning there is a bit of another new wrinkle, wouldn't be a weak unless there was a new wrinkle around the trade talks. the global times, a newspaper there, reporting over the

weekend china wants uts tariffs rolled back as part of any phase 1 deal, separately axios reporting that the recently passed hong kong legislation may have stalled the phase 1 deal. everyday feels like one step forward, one step back what are you hearing where do we stand, eunice? >> well, we have another wring thal theforeign min city announced today countermeasures against the u.s. for their support for the u.s.'s support for the hong kong human rights bill so, theforeign ministry said that as of today, effective monday, the chinese were going to suspend port calls for the u.s. navy in hong kong and they're going to sanction several large u.s. ngos. now the chinese already have very tight regulations on foreign ngos here in the mainland, but now they are also accusing many of these ngos of inflaming what they described as

extremist and violent activities in hong kong so, the foreign ministry said that's more countermeasures in the wings if things get worse. and even though, brian, what i thought was interesting was that the chinese were not linking hong kong to the trade talks officially, and even in the state press, but it obviously is not going to be a very good backdrop for these negotiators. >> yeah. got more wrinkles than i don't know what my dear departed granddaddy's bald head either way there's a headline often conflicting. eunice yoon, thank you we appreciate it now let'sget back to the markets. it's been a very good year for stocks so far. the s&p 500 is up 25% through november the best performance for the s&p since 2013 and maybe, quote frank sanatra, the best is yet to come, maybe december is typically the best month of the year, according to

cfra, the s&p 500 has risen 76% of the time in december with an average gain of 1.6% market sentiment leading into the month also good indicator of how stocks may end the year. our friends say since 1928 stocks up at least 20% by thanksgiving the s&p 500 has an average gain between 1.8% between black friday and new year's eve let's now bring in managing director tjm institutional services and cnbc contributor, all the historical data, jim, is good the markets have been bullish. the bears they have thrown in the towel, volatility is nonkpis tant short bets against the vics are nonkpis tant in some ways and yet i feel like we were here last year and we all know what happened in december is there any risk this year? >> there's always risk i just don't think it's going to

happen the fact that it happened last year makes it a little less likely that it happens this year because people are kind of on guard for it a little bit. some of those statistics you just said scare me a little bit, complacency is down, that's when these things happen. the overarchi ining theme, didn you expect futures to be down when you heard the nastry rhetoric down from china they're up i think there's an element i find very interesting as long as the china thing still keeps extending, the fed perceives their job to plan for worst case scenario they're not going tighten rates the fact that the economy is chugging along and that's why we see a steepening curve right now, too, because the market feels probably that rates are a little lower than they should be based on the current macro economic condition >> yeah. listen, as market strategist and my friend raul paul points out in a tweet over the weekend, the short position of the vics is the largest he can remember in all of history what does that tell you about

the way that people are setting up into this market where everything really, jim, has simply been on one side of that boat >> right well, there's no question in my mind that belongs on the nege negative side of the ledger of things that could cause things to tumble. i don't like that. there's things on the positive side that outweigh it, particularly the fact that the fed has become very active again which is certainly not qe by any definition of it but they increased their balance sheet by $280 billion in the last ten weeks. to me it seems the fed is very accommodative. i hate to sound like a broken record the biggest deal is the fact that the fed and all three central banks are willing to throw money at the problem the problem is they perceive and where that money will end up, the u.s. stock market is a pretty good place for it yes, i don't like the fact there's complacency and people are selling but i like the rest of the story. >> i'll read my viewer's minds, they're thinking, hey, brian, last year the fed was hawkish. the yield curve was starting to

flatten. we had troubling economic data none of that exists this year. and -- you just said basically, we're seeing an easing or at least an accommodative federal reserve. but i just sometimes, jim, and you i talked ability, this kind of market structure where everybody is crowded into all these pretty much the same stocks and the same etfs, i just wonder if it's just almost too perfect in some ways. >> i know. you and i, we lived through two separate things where everybody got into a really crowded trade. we saw it in the tech bubble we saw it in the real estate bubble anecdotally at some point you saw everybody talking about how they leveraged up and what could possibly go wrong. why would by in any sort of bonds get 12% a year in stocks i don't hear that as much. this is more of a climb a wall a worry trade it seems like to me despite the fact that we have seen shorts. but i don't mind the rally as much when i hear people negatively about it. i like it more that way. >> you think we do follow history and end the year higher

than we are now? >> that's my belief. i think that we're still -- i think that we're still good in the short-term i have seen no price action that contradicts it 30/30, we went above that in the s&p, to me that was the start of the new bull move. that's 4% ago. i think that we could trade in that range from a broader standpoint, but i still think higher is the way to go. >> listen, it's december, what, 2nd. jim, i'll be the first to say, merry christmas because you got some holiday market cheer, jim thank you very much. >> you too thank you, brian you too. when we come back on "worldwide exchange," how online shopping continues to dominate the holiday season as we kick into high gear. plus, blame netflix? it's a popular excuse. but your next guest says they may not be the reason behind tepid box office numbers we'll explain. first, we remain on winter weather watch. thousands of flights remain delayed and cancelled across the country.

the roads throughout are nasty if you're getting on the road this morning, trust me, be safe. drive slow get there. we're back right afterhi ts. pd-l1. they changed how the world fights cancer. blocking the pd-l1 protein, lets the immune system attack, attack, attack cancer. pd-l1 transformed, revolutionized, immunotherapy. pd-l1 saved my life. saved my life. saved my life. what we do here at dana-faber, changes lives everywhere. everywhere. everywhere. everywhere. everywhere.

♪ welcome back and good monday morning. to start the final month of the year, heck, it's the final month of the decade. dow futures starting it off pretty well, too up 133 on the implied open the malls and the stores may have been a little less crowded

over the thanksgiving holiday weekend because new numbers suggest that more of you opted to shop from the comfort of your couch. rahel solomon joining us now with that full story. >> as did id brian, good morning. shoppers continue to choose online rather than in person for all those black friday deals adoe by analytics said sales hit 7.4 billion. it's still a little shy of estimates. shopper track which monitors foot traffic says that visits to stores follow combined 3% on thanksgiving and black friday and traffic was higher on thanksgiving evening dragged down by 6% decline on black friday so shopper track says that retail offerings like buy online and pick up stores are not included in the traffic count adobe says they spent $3.6 billion on small business saturday they rang up $68 billion in

november and more people were using their phones to shop adobe says smart phones accounted for 41% of all ecommerce sales up 22% from a year ago. and the holiday shopping bonanza rolls on today with, of course, cyber monday adobe. >> don't say it. >> it's not a thing. >> it's a thing. >> it's not a thing. >> we should be shopping right now because -- >> i am actually >> are you >> yeah. i'm shopping for a smart phone with my phone. it's very met. >> very meta so philosophical of you. adobe forecasting $9.4 billion online sales that phone will be included on that, brian. >> i can't say it. it's the internet monday i'm going to say that, rahel we escape the tyranny of our dial up mo dems at home come to the office where they have high speed interweb tomorrow is black smith tuesday. thank you very much. on deck, letting it go all the way to number one again, how disney continues its box

office domination this past holiday weekend. later, no consensus here, we're going to break down some of the most divisive stocks on whe wall street and why they're so controversial. who are these mysterious names we're going to tell you coming up ♪ let the storm rage on ♪ introducing a razor that works differently. the gillette skinguard has a guard between the blades that helps protect skin. the gillette skinguard.

welcome back and good morning. dow futures are up 137 points right now. it is 5:20, 4:20 there in the

great city of chicago. the big developing story this morning, at least along pretty much the entire northeastern coast is wicked winter weather 125 million americans are now dealing with some kind of a storm from here in the northeast all the way out to california and the upper peninsula of michigan nbc meteorologist janessa web with the very latest. >> good morning, brian i know you're a big-time snow fan. we're really going to see the big-time snow across the northeast. this is a fast-moving system right now we are seeing things starting to break apart but it really starts to happen around that noon hour into your evening commute. so potential snow day today really not going to happen we'll watch for that for tomorrow morning so winter storm warnings also a winter weather advisories across the northeast and even portions still of the midwest for 49 million. now, the airport delays we've already seen about 600 across the nation as we do have another storm system that's developing

in the pacific northwest but just across the northeast from philadelphia to boston, we already seeing about an hour to two hour delays at some of the major hubs and that is really going to be dicey for this afternoon now, travelers trying to make their way back after the thanksgiving holiday if they're hitting the roadways, trains, major delays from philadelphia all the way into the cleveland area i-95 going to deal with that heavy snow we're currently dealing with a shutdown for pennsylvania across i-81 in that area where major snow has developed up to about 6 to 8 inches. >> that will make a difficult commute more difficult be safe throughout janessa webb, we appreciate it. straight ahead, new developments in the impeachment indwyerry ahead of more new hearings. plus, breaking down what could be another december to remember, or maybe one to forget does anybody remember what happened to the markets last year

futures don't. they're up 135 points. and we're back in two minutes. do you have concerns about mild memory loss related to aging? prevagen is the number one pharmacist-recommended memory support brand. you can find it in the vitamin aisle in stores everywhere. prevagen. healthier brain. better life.

♪ welcome back and good morning. check on some of the morning's other top stories outside of the world of money and business. frances rivera in new york with that good morning. >> good morning to you, brian.

the house judiciary committee will hold its first impeachment hearings on wednesday. house judiciary chairman jerry nadler had invited the white house to participate and last night he got a response. an emphatic no in a letter to the chairman white house counsel wrote in part, an invitation to an academic discussion with law professors does not begin to provide the president with any semblance of a fair process. we do not intend to participate in your wednesday hearing. today the supreme court will hear arguments about the biggest gun control case in over ten year at the center, a new york city gun restriction that could have major implications for gun rights across the country. the justices will be weighing a challenge to a regulation that prevents license firearm owners from taking their weapons into and out of the city. gun rights groups arguments it violates the second amendment. lit come in the thick of the

2020 campaign decision. first lady melania trump revealed this year's white house christmas decorations. the theme is spirit of america she tweeted out this video multiple rooms in the white house getting those christmas decorations up, too. brian, back to you. >> your tree up, frances >> yep almost kind of. >> you're one of those people. >> one of those. >> you already opened the gifts. happy new year >> not going to allow it. >> thank you very much. straight ahead, could netflix be to blame for the weak box office turnouts this year? your next guest says, hey, easy to blame but not so fast we'll talk about why the box office has been decidedly icy when "worldwide exchange" returns. it is nice.

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i'm tom steyer and i approve this message. i'm running for president because unlike other candidates, i can go head to head with donald trump on the economy, and expose him fo what he is: a fraud and a failure. ♪ good morning and welcome to the final trading month of the decade stocks soaring this year, but does anybody remember what happened last december we do. and we'll talk about it. fire up that dial up modem and get on the interweb, everybody. it's a big online shopping day but after black friday, does anybody still have an appetite to shop when they return to work today? blame the irishman why netflix and scorsese new movie may be crushing the box office or not we're watching "worldwide exchange" on cnbc and we roll on right now. ♪

welcome back and good morning, afternoon and good evening. by the way, welcome to december. it is monday, december 2nd, 2019 the final month of the decade. where has the time gone? well, we don't know but we know where the money has gone and that's gone into the stock market all year long in fact, let's get a check on dow futures because they look like, at least right now, they're going to continue what has been a very strong end to the year of course last year we had this. we'll get to that in a second. it's the first trading day of december as well dow futures continue to power up we're up 141 points right now on the dow. but, now is probably just a good time to kind of slip in. just kind of whisper to you, good idea to remember what happened last year because last year we had a pretty solid year, not as good nearly as this year, but pretty solid year last year as well and unfortunately we know what happened in 2018 with the equity markets. this is the s&p 500.

and this is about december 1st right here we had more than 10% drop for the markets. really boom. the bottom fell out. all of a sudden for the s&p 500, the dow and the nasdaq, there's about january 1st. so we inched back. still we ended the year with the worst returns for the market in more than a decade the dow at one point was down 15% in december. here are some stats not to remember but maybe to forget, the dow overall last december fell 8.7%. it was the worst month for the overall markets since all the way back in 1931 at one point, the dow fell more than 350 points, six days in a row. what happened last december, wiped out all of the year's gains. obviously last year is not like this year. the trade war was just heating up the fed was more hawkish they raised rates on december 19th of course, we ended up seeing also yield curve that began to flatten, some of the economic

data was not so strong as well, so this year not last year we are up a solid 25% but just listen, it is important to remember we're chugging along in 2018 and all of a sudden everything hit the brakes and the markets had these wild moves in december. maybe unlikely this year for a lot of reasons, but just something to pay attention to as well as we head into the final month of the year. okay so let's move on now if we can. we certainly can what are we doing now guys okay let's get a check on the asia markets as well. there we go. wanted to make sure we weren't going to bring in our friends. asia markets continue their strength we have been talking about japan. the nikkei continues its run up another 1% europe, you noticing a trend on the screen, more green as well all the major averages are higher to begin their month as well later on this morning the president will head to the urk in the past, he rattled fellow members with criticisms on

defense spending, but could this time and maybe this visit be a little bit different joumanna bercetche joining us now from our london news room with that and more joumanna, good morning. >> with good morning, ryan that's right the u.s. president landed around 10:00 p.m. local time tonight to mark the two-day kmom ration of the 70 years of that nato alliance as you said the nato itself is undergoing a time of crucial tension, lots of existential questions about the organization's purpose, not least when it comes to defense spending as you just outlined. one of the biggest gripes of the president is that other member states have not coughed up when it comes to defense spending, not spending 2% of the gdp target and something he's been quite critical and vocal about in the past. now, not least as well we heard recently from another big voice in the nato, we heard from the french president emmanuel macron only a month ago who also referred to the nato as being a brain dead organization, very controversial remarks there.

now, the two of them, president emmanuel macron and president trump are set to have a bilateral meeting tomorrow president trump is also set to have a bilateral meeting with the german chancellor and also the danish prime minister you may remember there was some controversy around greenland just a couple of months ago. in the evening, of course, they will be having a reception at buckingham palace. but, you may have noticed that there's one person conspicuously absent from all of these one to one meetings and that is the current uk prime minister boris johnson. and there effect the uk obviously is the midst of the a campaigning couple of before the december 12th general election and boris johnson on the back of that sought to distance himself somewhat from associated too closely with president trump given the u.s. president's unpopularity over here in the uk just to give you some numbers, ugov poll earlier this year showed that two thirds of brits have a negative opinion of the u.s. president and another poll said that 39%

of the population thought a trump endorsement would be very unhelpful for british politicians. on the back of that, we are expecting some demonstrations tomorrow afternoon just before the buckingham palace reception. worth bearing in mind that there are no scheduled one-on-one meetings between the u.s. president and the uk prime minister which would be strange for a typical state visit. >> yeah. we expect some hostilities for the president when he arrives in the uk through all of this, through everything that we talk about, your markets, like our markets, just continue to move higher nearly day after day are people there as vexed as some people here seem to be about these two seemingly completely different scenarios and stories? >> i would say the uk a lot of the mufr that we're seeing in markets is on back of the general polling situation. it looked as though a couple weeks back that the

conservatives had a very huge lead over labour party to the tune of about 13, 14 points. it has since narrow in the last week or so, but for markets, a conservative majority would be a positive outcome and indeed the markets have been trading on that both in the ftse 100 and in sterling you have sterling pound trading at around 129 here but take it with a pinch of salt because remember back in 2017, back then, the torys had a major lead before theresa may called that election, but in the end we ended up with a hung parliament. very crucial time for british politics coming up and that will have an impact in the markets. >> it certainly will joumanna bercetche, we look forward to your coverage and full team coverage all around the world on cnbc. have a great day, joumanna thank you very much. while "frozen 2" broke the box office record for the thanksgiving holiday weekend, ticket sales overall were actually down about 16% from last year, according to comscore netflix may be blame for some of that decline because martin

score score say seize new film arrived on netflix they not released any numbers for viewership of the irish map trapped in 3.5 hours long. joining us now with more on this and two other big stories is peter kofka. great to see you. >> good morning. >> the box office has been awful. >> tepid >> rambo, last blood, charlie's angels. >> none of those are for you >> i didn't know they were movies. >> there you go. >> that is the point is netflix to blame for this or just bad movie making. >> i don't think netflix makes hollywood make bad movies. is there a real chance swromeone saying i'm going to watch stuff on this and order stuff on this and maybe it's on netflix, disney plus, possibly it's on apple tv that's a real possibility. >> yeah. listen, i'll talk to my daughter, hey, you want to go to

the movies no i have plenty here on youtube. >> youtube but also snapchat and tiktok, right? it's not just netflix. it's the internet. it's not just streaming video, it's the internet. there's a lot of reasons not to leave your couch. >> with black panther and "frozen 2" clr movies that people will go to, if you make it good, they will come. >> also if you know what it is ralph breaks the internet. big movies that families know about and might actually go see. will they go see creed 2 in a couple years if netflix gets creed 3 or 4. >> cnbc and analysts crunched the numbers. we are coming up with wall street battleground stocks the largest divergence of wall street analysts opinions maybe the most bullish, bearish all at the same time among those topping the list tesla, of course

dish, ge, lyft, slack, facebook and uber let's dig into two of the names if we can, peter first off, tesla, i mean, i don't know if you get -- say anything negative about tesla, you get the online world. >> tesla is the best company please don't tweet at me. >> that's how it is. the analyst community is all over the map. >> tesla is all over the map as a company. you have question about their actual capacity and productivity and questions about the founder who is going to be on trial this week in theory for a defamation suit about thai rescues and submarines and divers. there's no other company or ce like him. >> no, there really isn't. let's talk about ceo mark zuckerberg, goes to capitol hill, doesn't exactly shine in his moment, they're spending huge sums on lobbying, all this swirling and yet the analyst community still can't try to figure out where the stock is going to go.

>> you have this regulatory risk, the overhang, the analysts like to call it, right we don't know what will become of that. i'm skeptical there's real regulation that will hurt facebook lrnong-term you look at their numbers quarter to quarter, their ad numbers don't change >> why not the stock is up 54% this year. the money still seems to be flowing. these hashtag delete facebook. nothing. i'm going to delete my facebook. look, there's my high school friend nobody does it. >> these things can collapse very quickly they haven't yet by the way, facebook is now instagram. they're moving that business now to instagram so if there's a real delete facebook problem, it's not a problem. >> nobody seems to care. apple is set to hold a special event in new york city later on today picked a great day with the weather. company announced the event several weeks back saying this will honor its favorite apps and games of the year. it's unclear if apple has any

other special announcements up its sleeve you kind of go back, peter, to the steve jobs days. they have these events and steve would famously say and one more thing. that was the big reveal. is the day of the big reveal over >> i think so. but also you don't do a big reveal in december if you want someone to go out and buy something you tell them in september, they can think about it, buy it right after thanksgiving this is promotional event for apps and talk about apple tv plus that wouldn't be a bad idea. >> try to get the buzz around the one morning show. >> that buzz is not so good. there's one about emily dickinson that people like and by the way they were promoting that in front of "frozen 2" when i went to see it. >> you did go. >> i did go. >> thank you very much. coming up, the deals continue online. companies, though, they've got to ramp up output at their warehouses all across america to meet your demands for online shopping you want it now and you want it

fast courtney reagan is at a walmart fulfillment center with how the retail center plans to get you your gifts on time courtney, what's going on? >> reporter: hey, brian. so we saw some record numbers over the weekend on thanksgiving, on black friday for online shopping, but not done yet we'll hit more records today and i'll be part of them because i have a total of one gift so far. so i have to get busy. walmart is going to help me do it we'll tell you all about it coming up on "worldwide exchange." ♪ is changes everything. you're right sir... everything. no not everything, i mean you're still blatantly sucking up to me gary. brilliantly observed, sir. always three steps ahead. six steps ahead. sixteen. so many steps. you done? a million steps ahead. servicenow. works for you.

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then you gotta try mr. clean magic erasers. just wet.. squeeze.. and erase tough messes around your bathtub and shower. mr. clean magic erasers. there's no clean like mr. clean and that is certainly a big number especially today all right, so, we all see the hard-working retail workers that

are out there busting their behinds on christmas eve so you can complete all your last-minute shopping but we don't see the tens of thousands of men and women that are in the fulfillment centers, working just as hard to make sure that stuff you order online gets to you when and where you need it. but we at cnbc like to highlight all this stuff so cnbc's courtney reagan is in bethlehem, pennsylvania, at a walmart fulfillment center with how they're trying to get it done this holiday season courtney reagan. >> reporter: hi, good morning, brian. yeah, this walmart fulfillment center is one of six campuses across the country working to fulfill the ecommerce orders, some of which maybe were placed over the weekend and many, many more will be placed today and actually in under an hour from the time you place an order on walmart.com it can be picked, packed and shipped out the door for delivery in total today, the national retail federation expects that 69 million americans will do some shopping and records are expected to be set

so adobe does predict we will see sales grow 19% here today, hitting $9.4 billion over last cyber monday, which would make today the biggest day in history in the united states at least for online sales if we can hit those numbers. now, delivery is a company that works with thousands of merchants that sell goods on walmart.com, but also on ebay and on shopify what they say is that on black friday their volumes were up 3.7 times an average friday and that compares to three times what they saw last black friday so, those third party merchants are also seeing orders increase this year. now, we are seeing some early tallies come in when it comes to in-store shopping. and shopper track says that on thanksgiving day we actually did see things increase by about 2% for foot traffic, down 6% for

black friday put it together thanksgiving and black friday foot traffic in store was down 3%. retail next puts the numbers not quite so severe on black friday, saying that instore shopper traffic fell about 2%, but they also said conversion was up, meaning if the shopper went into a store, there was a highly likerhood they actually ended up walking out buying something fanatics, brian, it's the largest seller of fan goods in the world. so they sell a lot of sports gear, apparel, hats that kind of stuff. they had a record black friday they said it's actually the first time that they have ever hit online sales records on black friday for them it usually happens on today on cyber monday. we'll see what happens for them today. if you look at the weekend sales up 26% for fanatics. 40% for sales of nfl and college merchandise and, brian, what do you think the best-selling college team was over the weekend at fanatics? going to give you one hint -- it's me. it's my team >> courtney, you're putting me

on the spot. top three in reverse order bowling green, idaho and miami of ohio? >> oh, you are not even close unfortunately especially with that miami of ohio my alma mater. but the ohio state university was the best selling team for fanatics over the weekend and of course we had a pretty big game beating that team up north back over to you, brian. >> you guys are unstoppable. michigan did not look good at all. you'll win the national championship and my hokies lost ended a 15-year streak versus uva. everything is table. courtney, thank you. >> thanks, brian. coming up, not buying much because it's too expensivexpens. we're talking about private equity, not your holiday list. goldman sachs doing something hopefully make investors forget about its new bank stick around here, it all starts with a simple...

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time now for your executive recap. china says it will suspend u.s. naval visits to hong ckong the chinese government is also sanctioning human rights watch for its support of the demonstrators. goldman sacks will reportedly avoid setting strict profitability targets at next month's investor day event the bank's leadership team will try to focus investor attention toward its core wall street business instead of its recent push into consumer banking. u.s. private equity firms are reportedly struggling to find ways to spend the record amount of cash they're sitting on according to "the wall street journal," u.s. buyouts by these firms hit just over $155 billion

in the first ten months of the year while cash levels for north american buyouts hit a record $771.5 billion the journal sites already expensive takeover candidates getting more costly. part of that cash build up i think they call that one of those good problems. all morning we have been breaking down these markets and talking about whether we'll continue this run or have another december to remember for the wrong reasons. do you remember last year? one year ago investors saw the worst december since 1931 with stocks ending the year lower because of what happened in just about 20 trading days. joining us now with more on whether we'll see a repeat of that this year or whether the market momentum will continue is this guy, piper jaffreys craig johnson in house from minneapolis. this is your spring. welcome to new york. wearing shorts when you came into the office. >> it is spring, no question. >> not short to be a glass half empty, fear monger, i remember last year, we were down 15 points in the matter of a couple weeks. anything in the technical setup, s&p 500 chart first, that

indicates to you there is any kind of a risk of last year happening this year? >> you know, brian, it's 180 degrees different this year for what we had last year. i would call this movember at this point in time with the s&p 500 having appreciated 3.4% just in november alone. and now as you look at the overall chart here for the s&p 500, and i see this continual pattern just continuing to see this up trend and we continue to see the overall breadth of this market expanding the highs versus now lows continues to improve there is nothing to suggest at this point in time that this market will roll over. we have now just finally started to clear those highs around 3126 and we just continue to move higher we pushed through our objective for this year but again as i'm starting to think about next year, i still see more upside. >> you do. was this a big deal, the clear button is down there by the way. >> absolutely i do think that is

a big deal we broke out from there. i do continue to think that we are going to, as we break out from here, starting this leg up. there will be more room for this ultimately to work as you move into 2020. again, breadth is improving. >> not only a good chart, you told me how my telestrator works. that's something russell 2,000, small caps, ignored at the beginning of the year are also on their way up. >> absolutely. looking at that russell 2,000 is a great sign for this market, for the health of this because we had been stuck essentially in a consolidation range and now just here we are finally starting to break out to new highs. so again, the breath is improving. a lot of these small and medium size banks are starting to really participate again as interest rates are still low at this point in time and we're starting to see the overall multiple for those stocks really start to participate so with this breaking out, we have to think about the old highs coming into play here. so that's still a lot of

momentum and a lot of stocks. >> in the small caps. >> in the smalled my cap names. >> i want to talk about next individual equities. the first one is arguably the most important stock in america because it's the highest price stock in the dow, of course this is boeing. we know of course all the issues that boeing had with the 737 max congressional hearings, et cetera but from a technical perspective, you're starting to see some new signs of investor interest in b.a. >> absolutely. when i look at the chart itself, we have been in this essential large consolidation range for this stock for quite some time, where as a lot of other stocks have already been trending higher and breaking out. now we're at a point in time where we're starting to retest the upper end of this range and i would not be surprised to see it break out in early 2020. >> what's 24, what are these numbers, craig >> these are multiples on the stock. the earnings numbers have come down i would put the p.e. multiples in here where the stock has been. >> but this doesn't seem cheap, 37 times for boeing with all that's going on, it doesn't appear to be an

inp inexpensive stock. >> sure. you want to buy these companies when the multiples are high. >> why is that >> you typically see a deep cyclical cycle with these industrial companies when you have peak margins, peak revenue, peak earnings you will see that revenue shrink where i get more concerned when the stock is too cheap in the industrial base, i start to get more concerned when the earnings numbers are reflecting all the bad news, to me it's already there. >> let's talk about a retailer that's hot lately. it's a lot of people's wish list and that is lulu lemon left for dead a few years ago all these problems with the ceo. that stock has been red hot. >> absolutely. i drew the trend lines in here this stock has been trending very nicely here let me tell you this, i was at the mall of america just over on black friday and i got to tell you -- >> oh yeah, was it good, you know >> it was good. >> the lulu store was packed.

>> was it? >> absolutely packed. >> you're in the just doing technical analysis, you're doing on the ground eyeball analysis of lulu lemon. >> peter lynch, you have to see what's happening out there in the markets and when you walk past these companies at the mall of america, you can see who is busy, who is not. >> yeah. >> where the lines are very large. let me tell you, the lines were huge at this gigantic large new box that they just put in. >> nice. >> i still like the trend that i see here i see nothing changing higher highs and higher lows i still want to be a buyer of this stock and we do own the model portfolio. >> craig doing both work, technical and on the ground. great stuff. time now to get random and interesting. do you remember where you were 18 years ago today if our a bankruptcy lawyer texas, you were probably in a federal courthouse enron filed for bankruptcy the stock was just 25 cents a share. here is what's interesting, not even a half year earlier, enron was a $90 a share stock. $90 to 25 cents in 15 months

more than 5,000 jobs lost, thousands more at arthur anderson the accounting firm the implosion took down. one of the seventh biggest company in america and took houston nearly a decade to recover in many ways enron's bankruptcy 18 years ago today. random but interesting we'll see you tomorrow "squawk box" begins right now. good morning markets again, pointing to new highs for the first trading day of december. we'll talk about the potential catalyst for maybe even more gains in a santa claus rally retail records we expect to drop 9 billion today. we'll break down the big winners and losers on this cyber monday. thousands of flights delay and cancelled. snow and wind reek havoc on the holiday commute. everything is done online any

way? "squawk box" begins right now. ♪ >> announcer: 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 andrew is off today. joining us for all three hours tom farley, the ceo of far point acquisition group and former president of the nyce and cnbc contributor. great to see you. >> good morning. >> thanks for being here all rested ready to go >> ready to go maybe we have all-time record in the stock markets today. >> we'll check it out. the dow futures are indicated up by 122 points. s&p futures are up by 12 the nasdaq up by 30. first trading day of the month