streetsit is 5:00 and here top five 'tis officially the season for holiday shopping, but much like everything else, it might look very different this year we'll talk retail winners and losers stocking stuffers of another kind, u.s. equities higher on the week, dow around the 30,000 mark and one of the best months for the market in decades. but the big story might be bitcoin, crypto closing into an all-time record but then plunged on thanksgiving in less than 24

hours. we'll tell you now and in political new, president trump not conceding but saying that he will leave the white house if the electoral college votes for joe biden. and attention griswold, you have new competition 2020 trend is lighting up america. it is friday, november 27, and this is "worldwide exchange. ♪ ♪ holiday road, holiday road well, good friday more than from wherever in the world that you may be watching. thank you for joining us you we appreciate it let's jump right in because it is a black friday or at least it used to be anyway. also a holiday shortened day the markets do close at 1:00 eastern time trading activity traditionally lighter today, but the markets are open for a few hours so we're open as well

and here is how your money is setting up your day. stock futures indicating the dow will rise a little bit at the open, we are all in the green. not a lot, but up nonetheless. the big market story today is likely to turn out to be bitcoin because bitcoin over the holiday yesterday extremely volatile we've come way back. bitcoin was above 19,000 on tuesday and wednesday for the first time in three years, and then yesterday on a tweet late i think it was wednesday from the ceo of coin base, concern about bitcoin wallets being more heavily regulated or surprise regulation bitcoin was down $2,000 at one point yesterday. again, we have come back, we're down 436 bitcoin still well down, all the cryptos by the way are down. bitcoin down 2.5%, but back $1500 up off the lows overnight from yesterday on bitcoin. and we'll talk more about this with hedge fund manager mark

yusko in about 15 minutes time and let's go now around the world as well and see how the european and asian markets are doing on this friday asian ya asia is up. and germany and france, they are higher your top corporate story on this friday is a big one. astrazeneca and oxford university are defending their covidvaccine trials following questions about how the candidates were tested earlier this week the company announced combined results found that the vaccine to be 70% effective. that number came from combining a smaller group of people who received an unintentionally lower dose of the vaccine which showed 90% effectiveness and a larger group who received a higher dose which showed only 62% effectiveness. the head of the white house task force raised doubts about the trial day today and the drug's

efficacy rate but astrazeneca says the highest standards were used and additional analysis will be conducted. in the meantime, disney is planning to cut 32,000 more jobs by march most of those reductions will come from its theme park division which of course is struggling with pandemic-related closures and lower and danc attendance and this is about 4,000 more than previously announced. amazon is giving its workers a one time holiday bonus of $300 the company spent more than $500 million on the payouts the announcement comes as workers at amazon and other retailers have complained that hazard pay is not what it should be during the early months of the covid outbreak and have since been cut so back to the markets the dow rallied above 30,000 on tuesday and the major averages are still on track for the third

positive week in the past four and one of the best months in decades. small caps continue to outperform the others. the russell 2000 already up 3 aboutment 5% this week so let's try to find some value in what has been a pretty hot market joining us is ben emons at medley global advisers great to have you on look are you a believer or buyer or maybe a seller into the idea of a vaccine top rallied into the news because now the market may have some hard work to do. >> good morning, brian yeah, you may be putting it right. we reached the top here and you now we have a lot of vaccine optimism we leaped over a future that looks really bright and we should see more normalized activity next year hopefully but we have to take to being of reality here too on the ground as we speak.

fts it is a slowdown from the third quarter and we're approaching year end where several events happening at the same time particularly expirations on employment benefits, that will be a hit to the economy. so i do think that you want to put a balance in the portfolio to set off against the big rally. nevertheless, it is a good strong market. >> yeah, when we talk about a strong market, certainly we've already seen it in the last couple weeks or months and there have been surprise sectors like energy rallying 15% or whatever it is in the last couple weeks everybody still seems focused on technology, at least that we hear from and we talk to, is there any part of the market where you are seeing value right now? >> yeah, i was actually looking at the dividends side of the

market stocks with stable dividends and some say the big dividends etfs have lacked the rally. of course that is part of the financial story. the banks cannot pay dividends but there is also energy companies and some of the stay-at-home companies that pay really high can i hadividends a interesting. and i think next year we'll see the treasury yields normalize. but it also offers opportunity for dividends. so i think that you want to take a good look at that as a counter weight to the big technology rally that we've had >> what about this concept ofco technology rally that we've had. >> what about this concept of came mooditi ithold mocommoditi been kind of going against the tide, things in the dust bin of

the committee market in. >> yeah, and think about the financials and retail sector because those have really lacked the entire rally and we know the reasons. so that is another counter weight of course financials had this month pretty good run.counterwe. of course financials had this month pretty good run. and also i would point to as a gle global story too the astrazeneca story about the global trial and how the global vaccines will roll out you want to take also note of that there is opportunities out there in emerging markets that i think that you want to take a look at too. because again, it is really the global economy that will normalize and therefore there is opportuni opportunity. >> could emerging markets outperform next year >> in asia, you see the strong profits data in china, and that

control over the virus, i think the latin america countries are attractive here now because they too, their economies have lacked quite a bit. so i think you want to take a look it is a good opportunity >> ben emons, getting up early and putting in some work on a friday morning for us after thanksgiving we appreciate it have a great weekend when we come back here on "worldwide exchange," bitcoin down over 400 bucks right now, down nearly 3,000 from its highs just 36 hours ago. all on concern about new regulations popping up mark yusko will join us to talk more about that. and then later, call it a clark griswold xchristmas. if you can't travel or see family this holiday, how about christmas lightses to bring smiles, a lot of lights. call it decorating on steroids contessa has that coming up. ♪

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there were tsunamis fourtin the world. and once they happened, we were in a major hurry to get to those regions to provide aid and support. it was very humbling to be able to help out all those people. it's my dream now to go into clean energy and whatever the next new fuel source is, that's where i want to be. i want to be on the front lines of implementation. welcome back dow futures up 62 points and coming up, mark your company on t yusko on the big swings in bitcoin. and president trump not conceding but saying that he will leave the white house if the electoral college votes for joe biden. what you need to know about that, the markets and your money when we come back on a holiday

shortened friday today's big number $1.15 trillion that is how much deloitte expects retail sales to reach during the november to january holiday season owe firm sees ecommerce sales to gr 35% over the prior year period ♪ should auld acquaintance be forgot ♪ ♪ and never brought to mind ♪ should auld acquaintance be forgot ♪ ♪ and auld lang syne ♪ we'll take a cup of kindness yet ♪

♪ for auld lang syne next customer please. ♪ ♪ (har(betsy) twelquarter mile of tinsel. lights. (harold) and real snow all the way from switzerland. (betsy) hmmhm... gonna be tough to top. ♪ (betsy) well played. (vo) add some thrill to your wish list. at the season of audi sales event. get exceptional offers now. our vision is to be the best sports and outdoors retailer in the country with a mission to provide fun for all through strong assortments, value, & experience over the years, we've given customers not just great products, but outstanding experiences. we can't wait to have customers nationwide have fun out there.

kind of oddly beautiful there at 5:15 in the morning of course still dark over new york city. the sun will rise and we hope that you had a wonderful thanksgiving holiday however you may have celebrated it by the way, more than 3 million people flew friday, saturday or sunday and wednesday it was a new pandemic record high for flights. all right. well, it was a wild ride for bitcoin as well over the last 48 or so hours. the price of the crypto sinking some $3,000 since wednesday's highs after hitting nearly $20,000 on tuesday many attributing the massive move on the down side, it comes as brian armstrong wrote last week we heard rumors that the u.s. treasury and secretary mnuchin were planning to rush out new regulations regarding

self-40es e self-hosted crypto wallets i'm concerned this could have unintended side effects and wanted to share those concerns and he added that he and other investors have sent a letter to the treasury joining us now is morgan creek's mark yusko we appreciate you joining us after even was feasting and hopefully having a couple gult cocktails. but is ththis is a big story. bitcoin down 2,000 but recovered much of that why do you think the market was so jumpy related to his comments >> i think this is actually very similar to what happened in 2017 around the china ban quote/unquote on bitcoin and i think what happens in these situations is we had a nine month period where the

asset ran up four-fold, almost five times over that nine month period and then you get a lot of speculators coming into the market and so if you look at the history of the price of any asset, it tends to make a series of higher lows over time and there is volatility and that volatility can be triggered by all kinds of things. and in this case, like back in 2017, there is this fear, i think irrational fear that some government will ban crypto currency and that is not possible in china, the price if he would about 20% over the course of the next month.would about 20% over the course of the next month then people realized thatted

they would just move the exchanges and by the end of the year, three months later, prices were up to the record highs of almost 20,000. so i'm not saying that we will go up five-fold from here in the next three months, but i am going to say that going forward, this too shall pass and people will calm down a little bit. >> the markets tremendously calmed down. we're down 175 on bitcoin right now, but that is a long way from being down 2,000 but what it said to me, there are players out there, he irrational or not, that are worried lclearly or ready to hi sell on any sniff of any kind of regulation everyone around the wallets, not necessarily the crypto itself. >> yeah, that is a great point and i think the challenge for any as set particularly a new asset, we're only talking about an asset that is 11 years old

and a vast majority don't understand how crypto works. and so you have a core base of owners, and they are not going to sell no matter what the price. and they have he been holding for many years.he been holding r many years they call them the holdlers. and so you have someone trading that asset, and that could be in gold, in stocks. think about amazon amazon fell almost 20% in the first two weeks of september this year. and some people freaked out. and some people thought oh, my g gosh, something will change and be terrible about the christmas season or we'll reopen and people won't buy as much stuff from home. that incremental seller then causes pressure short term the price moves but the long term

trend is still upwards >> you know, we always talk about bitcoin only because it is the big dog if you will of crypto but as we've highlighted a couple days earlier in ourme rb they all do different things we don't need to go into the technology of platform, to be frank, i'm not sure that i could go that deep into them myself. but is there one model that you prefer, whether it is the ether model off the block chain, is it bitcoin, is there one that you like or is it really bitcoin is where the action is? >> yeah, easiest way to think about it for me anyway is similar to internet protocols. when the internet came along, there were a lot of competing protocols and nobody really knew what we would use to operate you and i today are transmitting in high definition from me sitting in a hotel room in

tulsa, oklahoma after the holiday, using the technology called the internet. and it transmits over something called tcpip and that is the base layer protocol on top of that, there are other protocols. http for email, smtp, file transfer, about half a dozen protocols. but the same thing is true with block chain technology and cryptocurrency bitcoin i think will be the base layer protocol top of that there is ethereum and a handful of other protocols that are really important over time but at the end of the day, we are talking about technology block chain technology is the operating system for the internet of value. same thing as the tcpip, the operating system for the internet or dos or windows was the operating system for personal computers or ios for

the iphone, which -- i'm transmitting live television on my iphone. pretty amazing when you think about operating syste systems, block chain is just -- >> block chain is the building block. well said. giving me nightmares about setting up my clients on the ibm 20 years ago but i think it is very well said nobody would have thought that we could have done this even five years ago, and i think your point about technology is well taken. you are on tulsa time, that is even earlier go back to bed we appreciate it, thank you very much hope you have a wonderful weekend and safe travels mark yusko, thank you very much. >> appreciate it bitcoin rallied well off its lows everybody is getting up early for us and we appreciate it. meantime, let's get a check on the other top headlines, speaking of waking up early or

maybe just frances rivera, i feel like sometimes i just stay awake and sometimes dirty little secret, i have and ended high day with this show good morning by the way. >> good morning, good night and everything in between i guess, right? let's start off with the headlines here ter thanking overseas troops for their service, mr. trump answered questions for the first time since election day. the president also announced plans to hold a rally in georgia ahead of the critical senate run over election. and he did commit to leaving the white house as sxektded if t exe electoral college formalizes joe biden's victory. now to football. at least two out of three nfl games went off without a hitch the annual you are it battle bea and washington, final score there, 41-16 washington. and in detroit, some defensive

glory for j.j. watt. he intercepts a matt stafford pass for a picks 6 and deshaun watson threw for four touchdowns. final score, 41-25 texans. and there is a new top dog in town, her maim is claire and she's the winner of the 2020 dog show claire is the first scottish deer hound to win the competition. claire's grandmother was the first deer hound to win best of show in westminster in 2011. and those are your headlines on this post thanksgiving way too early morning. hope you can hit the leftovers and catch up on the zs later today. >> yeah, i was looking at that dog, and i mean this as a compliment, if i saw that dog on the street, i would think that it was a put like a great dane and irish wolf hound, you know, ala romance i've never even heard of a

scottish -- >> yeah, i would never think that it would win best in show or even a dog show -- >> looks like a cam medicel >> no offense to anybody and especially claire. >> and no offense to camels. frances, thank you have a great weekend coming up, covid restrictions may have put an end to the pre-dawn rush of people jamming each other and trampling each other to get in the store to buy a tv, but it does not mean that black friday is less important to retailers overall we'll take you live to a mall on the east coast to see what it is like outside of our homes. dow tus fctnanufureupraiolly.

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holiday shopping 2020 style. yeah, it will look a little different, but retailers are still counting on consumers to spend big time we'll talk winners and losers long term coming up. and follow the money, your exclusive report on what corporate insiders are brianing the most of their own stocks with their own money big names this week. and looking for a little holiday cheer? clark griswold might be what we

all need, we'll sblo due you to a decorating trend lighting up the nation literally ♪ welcome or welcome back. thanks for joining us. i'm brian sullivan here is how your money and global markets are looking stock futures are higher not big gains either way keep in mind that the markets close at 1:00 eastern time today. so if we see action, it will be in the morning because there is no afternoon of trading. dow futures up 45 right now on what has been one of the best months for stocks in decades if we can get back to 3164, that is the peak, that will give us the best month for the dow since

january of 1976. you go, stock market outside of equities also in focus on this friday, oil and opec oil has jumped 15% this month. but it is still under $50 a barrel here in the united states and there is growing concern that if opec drops the ball monday, oil prices could sink back below $40 and they have planned to increase production by 2 million barrels a day in january, they would do that by cutting their agreed-to cuts but with covid popping around the world, there is concern that global demand could weaken making any de facto production in, very bad idea are for prices opec most likely monday will need to agree to delay the planned increase to keep prices firm one big concern is how hot the uae representatives will be coming into the meeting. emirate may push to raise its

quota and if all sides can't agree, there is growing chances for dissent inside of opec and potentially another price war like we had in the spring. the monday opec meeting should be interesting and we'll cover it virtually of course tune in. it is the post thanksgiving insider buying segment that you are no doubt talking about all day either in person or virtually to friends and family. our exclusive look at the companies whose executives are buying the most of their own stocks, the data from insider score.com, and we count you down from five to one let's go the company with the fifth most insider buying this week is zogenix after a huge drop in applies, chairman picking up 161,000 wofrt rth of that stosk. and stock four, bio haven phrma. buying 447,000 worth

and stock number three, atricure, an ohio based surgical tool company, the chair than buying 500,000 worth that stock up 34% this year. and the second most insider buying is danaher, snatching up $6 million worth of that stock and the most insider buying this week, coty, a director buying $6.2 million worth of the cosmetics company stock, the first ever purchase for this director on the open market who came in as a representative of private equity firm kkr. and reminder the average gain of the insider stocks that we've been highlighting now for months is 47% over the past six months outperforming the markets. yes, it is black friday.

but you of course the malls and parking lots are expected to be a lot quieter this year especially depending on where you may be in the united states. bertha coombs is live in pa ram miss, new jersey which some might call the mall capital of america. how does it look? >> it is pretty quiet, but they are opening early here at the westfield garden state plaza and we did find a line, not huge, about a couple dozen people in line for the entrance near the game stop store a lot of them have been there since before midnight last night. what could get them to come out so early ps 5 if not for that, they said that they would not be here they haven't been able to get it 00 line oi online, so they are hoping to get it in person

but for most of us, we are not planning to shop in person according to deloitte, last year you saw 60% wanting to be in-store and more than half, some combination of in-store and online this year it has flipped the majority say we're shopping online as opposed to in-person although they do plan to try to get to the mall and the store if not today sometime this weekend. >> if we look at saturday and sunday, there seems to be a preference for in-store versus online on those days other two days, we're finding folks want to be online. >> yeah, generally people are waiting for cyber monday for the best deals but they have already started shopping and what is interesting, the stores here at the mall are getting some of that benefit if you take a look, the department stores in the week coming into thanksgivin give cos oi

some taking market 145ir from their rivals the biggest on lin boost the same stores that have done well as far as only any channel. target up 167%. walmart up 88% so the biggest shopping day perhaps of the year, 106 million people expected to shop one way or other today according to the national retail federation >> yeah, i think that i've got it wrong is black friday gone, but then i realize cyber monday, which i can't believe i just said that, cyber monday this is like what am i going to do, throw in my aol disk and dialing up my modem? every day is cyber monday i guess if you will with all these online sales that is probably going to be

more impact difference than black friday and everything is a market day and also the small business saturday, i don't think that theft ability to compete, but there are some people that are out in person today. >> yep, for small businesses, it is a little tougher because they don't necessarily have that ability to compete online. but for small individual makers, for example those adobe analytics number, one the biggest gains coming into thanksgiving is etsy it more than doubled granted they don't have the market share of an amazon, amazon takes two-thirds of the pie online and everything either is fighting for the rest but nonetheless, that is still a marked increase for small entrepreneurs if you will trying to sell their wares. people shopping more online, they are looking a bit more personalized >> okay. very quickly, be honest, i know

you live in manhattan, so it is a bit of a different story, when is the last time that you were inside a mall? >> wow i will tell you -- >> mine was in 2019. >> i was at one a couple months as go, but it is an outdoor mall, like it is on the street and i felt much more comfortable doing that we went for lunch because it was nice and spacious. and so that made me comfortable. going inside a mall, i'm still working up my courage. that's just me >> you'll be just fine and we appreciate that you are there. and i actually kind of looking forward to hitting the food court, sampling all the free things and not paying for anything we'll see you all day long thank you very much. joining us now to talk more about retail winners and losers,

stacy woodlands and also angie solanky. stacy, i'll begin with you i'm a little -- i actually did not know that there would be people going into stores today in the northeast we've been jumpy since about march 11 what is your take on how today will ultimately shape up and how it might matter to retail and consumer spending? >> yeah, so good news, there are actually people showing up, can which is great but obviously it will be a lot smaller than typical and i think a really important thing to think about here, in general all the black friday sales started six weeks ago or so and also remember prime day was a different time this year, it was the beginning of october, so everybody had deals around there. and even at best buy, we're saying we saw a huge spike in october. so definitely pull forward sales. but also i think that the deals

today are not going to be as good as last year because inventories are incredibly tight and also so many of the companies are actually talking about product shortages like best buy and william sonoma and others so some of the promotions i've looked at even in apparel, abercrombie is a little less than last year, so i think the deals have really been good and maybe today is a lot less important than usual >> angie, what is your sxechkts ta expectation? i feel like this year everybody is just -- and i mean this with august due respect, just kind of guessing at everything because there are so many variables. anyway to hone in on what we can expect >> yeah, i think i echo what stacey shared. these great ddeals are no longe deals. we've seen the offers being provided to consumers well beyond back even in june, pinterest was reporting that

they saw consumers shopping online for xhmgs achristmas and gifts. but i think that we'll see increased spend. right now we're proceed jesktsing 44% of people will spend more compared to the prior year yes, most of it will be online or theyy order online or pic up in store. and so we're seeing the full omnichannel experience occur and i think that we'll see a robust holiday spend this year and we're projecting probably about a 2.2% increase in terms of overall retail growth so it is quite positive so far >> and you make a good point for order for pickup and only half joking, i feel like it is more dangerous than shopping because i'll get run over because so many people looking at the store to get their pickup and i'm like don't hit me how big is order for pickup

going to be? >> i actually don't think that -- it will be no longer a trend but a reality. what i mean is that you are going to see this requirement where people want convenience. they are looking at you how can they order when it is convenient for them, where they are rushing over to the grocery store and they can just pop up their trunk and have the item delivered. so i think that people are looking for the offering where it just makes it much more nimble for them going forward. >> yeah, you know my point, stacey, we were worried about climate change and now everybody is just idling their car like 50 cars out side of the target. that aside, who is doing well in adjusting? is it still target not picking on them. but is it walmart, somebody we haven't talked about >> bertha was talking about the big three winners online and it is the guys who can fulfill and what you are talking about, you didn't want to drive

up and wait. now you can question online a ln you can reserve a parking space. so those are the guys who will win and also the one stop shoppers sadly as we've talked about, it is all the big guys -- not sadly, but target, walmart, the ones that are able to provide everything in one stop but don't forget, when we go back to the stores and we dip our toe back into reality, think broke tjx, the treasure hunt, that is the stuff that we want to go back to. so that is a winner in to recovery 2021, 2022. and something like you will take, you know, putting on makeup, be able to touch stuff and not being told to stand back, so don't forgets those

guys >> shopping is smupposed to be fun. i got this fur vest at tjx that just called my name and i came home and my wife -- it is is banished since then. thank you both very much have a wonderful weekend shopping is supposed to be fun coming up, fewer family members, more no holiday cruises or even a trip to gland made's, so what is bringing you holiday joy? contessa brewer always brings me joy and she is here now. >> you know what would fit right in with this story in a fur vest you look around, you see christmas lights, this is black friday, it is supposed to start out. what about the fact that i saw the halloween decorations coming down, the christmas decorations going up, because everybody needs a little christmas right this very minute

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crest, the official toothpaste of santa. welcome back around the country many families have had to break long standing traditions because of the pandemic and not being able to travel and such. no big thanksgiving dinner with loved ones and perhaps even skipping black friday shopping but retailers may be getting a boost in other ways. buying lights.

and blowup santas and big things for your yard that make noise. contessa brewer is joining us now from kingston, new york and your story is all about holiday cheer. >> and i'll deliver that in fact i'm already getting tweeted from people who say yep, i have my 16 foot tree up and it is early but i love it here at adams ferry brooke farms, the lights are on and the trees can out. of course today kicks off the traditional start of holiday decorating season. but this year is not normal. people have started decking the halls earlier than ever. it is kind of a grow big and go home mentality here. people are looking to pierce the pandemic bloom by embracing the traditions that don't require social distancing. sarah gore host of openhou"open" started a week ago and this year

plans more tree, more decorations. >> i usually do the thanksgiving time line, but most people that i'm talking to are doing their decorations early. and so i think if we sprinkle it throughout, and it feels like, you know, there is a little xwibit of festive feelings throughout your housethat is building toward christmas >> and they all mention the enthusiasm of home holiday buying brian cornell says that guests where clearly telling us that they want to celebrate the holiday season, but they know he that it will be very different and here at the upscale grocery and nursery chain, sales of holiday items are up 63% eefr last year. so i guess we just all need a little christmas right now.last year so i guess we just all need a little christmas right now

>> and i'm in that boat. we have strung more lights already than we ever have because i said no matter what happens, we are having a great christmas. kids are moaning arouney moping because there is no school but shout out to jerry you have the green lights over your right shoulder, the right lights -- you are perfect live framed it is the perfect shot >> brian is giving you a big compliment yeah, he has been with me pre- -- you know what, no -- oh, no, no listen, here is the thing about this decorating. now the tree house at my house is decorated why? because i needed an afternoon project that would keep the twins out of my way while i continued to work. it may cause a divorce with the other adult in my house hold who believes that you do not start decorating until today >> both jerry and joe are saints

and i love the shot. it is a feel good story on a friday we need that did you have a great thanksgiving >> fantastic best turkey i ever made for four people >> and contessa's best quality is modesty thank you. we'll see you all day on cnbc. take care. on deck, the man that called dow 30,000 a year ago right here on this very show. people laughed at him. he was right gngneon to say where the market isoi o year from today

a bigger call for dow 30,000 >> are you standing by that? >> i'm standing by that. i think the technicals are strong in the markets. fundamentals are bearish, but fundamentals are still solid and interest rates are low and those are things driving the market

>> that was joe fahmy on this very show of course on glt set back back in september. and joe, i'll look forward to seeing you back onset gasoliaga. i'm sure you took a lot of heat for the call what did you see last year that made you so optimistic that we would get there? >> thanks for having me on great to see you basically as i said last year, the market moves on mainly two things earnings and interest rates. and that is where i try to focus specifically on those and shout out a lot of the politics and noise and so forth because that is not as big of a factor in driving the markets. and what is interesting, we have a very similar backdrop still now to this day. >> and that would imply that you

are still oopt miptimistic. hard to make great calls all the time, but sounds like you are still bullish. >> yeah, over the next six to 12 month, i'm bullish for three main reasons the strong technical, the improving fundamentals and we're still in this low interest rate equity friendly environment that is very strong for stocks. now, my only concern short term is that the extreme bullish sentiment. so i follow a lot of different sentiment measures and they are alli showing that people are optimistic on the markets. it doesn't mean that we have to drop short term, but maybe just stall out to wear out some of the brul li that bullish sentiment but i'm bullish for mainly the strong technicals which i'm happy to get into. >> and i think that we'll hit that in a second but your point is well taken

we have a lot to be thankful for given all the vaccine news coming out and i agree, everybody seems wildly bullish strategists are tripping over themselves to raise their price targets. that alone makes me a little bit nervous. >> yeah, i mean that is more -- that is why i encourages viewers to know their time frame some people are traders, some people are investors so that is just something to consider just shorter term but just to review what has happened so far this year, we had a bear market in march and keep in mind not all have to be like '08, '09. they come in different flavors and the fed stepped in immediately and we had a strong run right into accepts wh september and what is interesting,

september and october, we had unusual strength that is rare to see. specifically early october is one of those breath fist indica from us indicators. and the second one is the week of the election in early november,from us indicators and the second one is the week of the election in early november,from us indicators and the second one is the week of the election in early november,rom us indicators and the second one is the week of the election in early november, three days where the s&p was up at least 1.5% in a row and that has happened nine times since 1970, and it shows the market up 14% on average six months later and 22% on average 12 months later. >> either way, if viewers watched you a year ago on this very show, they would have had a great call joe, appreciate you coming back on hope you had great thanksgiving. we'll see you soon that does it for us here on worldwide change remember, shortened day, but a

lot of action the next few hours. squawk and the gang will pick it up next. i'll see you monday.

good morning and welcome to the official start of the holiday shopping season. black friday may look different in year, but still very important to retailers we'll talk about possible winners and losers straight ahead. and bitcoin boom and then bust well, the stories behind the big swings over the last 48 hours. you got to hear to understand it and we all need a little holiday cheer this year, so we'll introduce you to a trend lighting up the nation it is friday, november 27th, 2020 "squawk box" begins right now. ♪