here is your top five at 5:00, stocks falling around the world. dow futures here down 800 points it is on concern that a new mutation of covid found in south africa may spread around the world. oil also down big. the w.h.o. calling a special meeting today to talk about the variant with worries it may be more resistant to the vaccines also happening, retail, traditionally today a big s shopping day but will people show up in p stores?

six months in the making the answer to a question we first asked you dear loyal viewer back in may plus your weekly report on insider buying five stocks getting a lot of love from their leaders. one common theme this week, buying on weakness we'll show you the names it's also happening on this friday, november 26th. and this is "worldwide exchange." good afternoon, good morning, or good evening and welcome from wherever in the world you may be watching. hope you had a wonderful thanksgiving if you're in the states if you're not in the states hope huh a wonderful thursday if you thought you were going to wake up and have the half day of stock trading, a light day, think again. u.s. stock futures they are plunging downnearly 800, more than 2%, nasdaq futures holding

up a little bit better just over 1% and it is all ahead of a shortened trading day here in the united states. the stock market will close at 1:00 p.m. new york time. the drop in stocks comes after the world health organization warning yesterday of a new covid variant detected in south africa that may be more immune to vaccines because they have so many different mutations in one, they call it a cluster type of mutation asian markets closed lower as well and people are buying bonds and treasury yields are coming down, nearing 1 p.5% as well. oil down 6% on demand concerns if, it's a big if, this new mutation starts to spread around it was a identified on a passenger who landed in israel coming from pew law wee. we have not heard about a spread but the market is not waiting.

they are selling now and going to revisit it later. that new covid concern is something that officials are keeping a close eye on let's talk about it, go to our london news room and find out what's happening around the world. karen joining us from london with how the markets look. from the big wall it is obvious it's sell first, ask questions later. >> brian, happy thanksgiving to you. i thought we'd be talking about the retail environment but here we are talking about variant of concern for a lot of scientists and health authorities this may be the play book for wall street later today. seeing sharp selling the markets moved into negative territory. you can see through the lens of the french market, one of the best performing markets in europe in november, we've given back all of that territory so part of the problem is the high water level we climbed to on some of the markets and what has been an optimistic trade

in recent sessions we were talking about how quickly we could taper out of the united states, how quickly we could lift off in interest rates and that story has caught on in european markets whether the ecb would be talking about a mov on the deposit rates. so banking hard hit, that's a catalyst behind the selling today, and, of course, travel and leisure. you can see the names moving delivery names have been towards the top of the board, the pandemic names, but also remote working and team viewer is one of the stocks that gives us a window into the remote working trade, it is up 5% as you can see today. other stocks are in the travel and leisure space, carnival, this is a cruise ship operator, down 11% we had incredible selling from the outset around iag, it was down a mighty 20%. as we're working our way through

the crisis, there had been hope we'd see the resumption of business and leisure travel even with the use of covid passports, testing and, of course, this story today is posing a threat to their narrative so this stock now down 10% so not as bad as where we started, clawing back that initial knee jerk reaction looks to end the trades down the outlook, i spoke to one of the big airline makers and they say the link is still there between the orders the airlines are placing at this stage and the covid situation they're dealing with, so the short term is impacting the medium and long-term that's relevant as we talk about airbus, down about 9% and dufry impacted as well across the boards it is a safety trade today. pandemic winners are back in the action at this stage and brian, perhaps it's the same for you later on today where you see a lot of investors, traders revisit some of the big winners

but just a quick look too across the hotel space, one of the big players in france, it trades down 5%. intercontinental also off 5% so positioning around fresh restrictions that may be required around this latest twist and turn with the pandemic >> karen, if you're looking here at u.s. airlines like american airlines, united, looking on cnbc's website they are down 7, 8% carnival down 10%. marriott down 6. anything with regard to travel or getting out is being sold off, kind of that covid playbook we know so well right now. it's kind of -- i don't want to say panic but it's hit sell now. people are getting in front of it have a great day, karen, thank you very much. it is on days like today you realize the markets really are truly global

which is why we are happy to have your first guest on today joining us is mark hafley, they're with the 2022 outlook and where they see opportunities right now. usually the friday after thanksgiving is a light, fun news day, obviously not today. this new variant could turn out to be something or nothing, or the vaccines could be effective. we don't know enough right now but the market doesn't seem to care at ubs wealth management what do you do on days like today? >> that is a great question. and what's so great about the show, "worldwide exchange" gets at what we do. so first thing in my day is get on the phone with asia, what's going on and what we're seeing in the markets and with clients and what we know about situations let me give you a quick rundown. first, you know, one of the things we do highlight in our year ahead, it's certainly

airing itself out to a degree with our clients in asia we have very sophisticated clients. they have liquidity plans, asset allocation plans with us so many of them are looking for, you know, what are the buying opportunities at a time when, you know, if you wanted to see a headline out of some place have a reaction in the market like this, you know, the fact that it came out on thanksgiving, it couldn't be have a more special timing >> yeah. i think that's an important point you are making obviously much of the world does not celebrate thanksgiving but we know that the united states sort of leads global trading in many ways. most markets' desks are going to be thinly staffed, maybe more junior people. nobody is going to be waiting around, sitting and trying to

analyze where the variant may go it's let's sell where we had scares in the past, come back in monday and revisit it after we thought about it over the weekend. that's why we're seeing airlines and cruise lines and hotels down 6, 7, 10%. >> you know, you say people on the desks we know machines are on the desk and they're running the program. so we need to assess this. so just a -- you highlighted summarize well what is known about this having more proteins that could impact how this reacts with the -- the vaccines that are out there, you know, if you look at the empirical data of the infection rate in south africa, for example, it's actually not spiked up, it's lower than it's probably been since the beginning of the crisis so that's on the one hand. on the other hand, you know, this variant is taking up of

those smaller number of cases, this variant is taking up a larger proportion of them and we also know that since it's going to be a wild before the scientists can really make a determination, you know, we -- we're going to be in a little bit of a limbo here around this. so that fits with the environment that you've described. >> yeah, and mark, i want to -- you came on so graciously so early on a friday morning i want to ask you why you're here, the global outlook as well let's hope this is a scare, the vaccines are effective, it doesn't go anywhere, we'll find out. japan, europe, and u.s. mid caps, all things remaining the same as they were yesterday, those are some of your top ideas for next year, correct >> yeah. and you know, i actually think the -- whenever you have a year ahead report, right, you hope it lasts for a couple of days,

right, before you have to start tweaking but, you know, i would say headlines aside, i think a lot of these trades still make sense or all of them make sense, because one of the things we said is we do think you're going to get a continuation of the trade through the first half of the year and then things normalize in the second half of the year, both growth and inflation rates. and so the first half of the year, looking towards japan, europe, energy, and, you know, that cyclical trade. but in the second half of the year, we think that health care which right now is trading at very favorable valuations compared to history, but also has that growth component is the area we'd be looking for more defensive stock plays. for some people that's going to accelerate a bit when they hear headlines like this. >> yes, by the way, we had a

goldman sachs call one of your competitors saying three rate hikes next year, not two that dropping late wednesday night into wednesday morning so that may be throwing fuel on the fire as well with regards to today. mark we appreciate you coming on, thank you very much. and appreciate you going with the flow on the news flow. have a great weekend take care. now to buying of a different kind outside of stocks this is, of course, retail because things this year, they could look very different as everybody seems to begin shopping early but in many ways it may also look the same. at least for now anyway has much of us feeling more normal than last year, how could we not? courtney reagan with new data and how many of you might have been secretly shopping online while others were cooking and cleaning and you were shopping not you. >> not me. early data from the big shopping

weekend shows us that consumers spent $2.3 billion online by 3:00 p.m. yesterday. the day on track to see spending as high as 5.4 billion, up about 6% from last year. a good rise there. all of this is happening as stores are just opening right now, because remember many retailers were closed on thanksgiving last year and the retailers decided to do it again this year, which means the instore door busters are back on black friday again you have walmart, target, best buy, a number of retailers among those opening their doors right now on the east coast. 108 million americans are expected to shop today, 64% in store. up from half last year shy of the 2019 levels but today is expected to be the biggest instore shopping day of the year shoppers spend an average of 135 bucks in store today up from $124 last year, in 2020.

to be fair, some of that increase could be from lower discount rates or inflation. style sage calculates that the average promotion is likely less than t yearthan what we saw last year and the year before. so we'll have to see how that all plays out with what we end up buying but online sales will be significant even though we're talking about instore here adobe does forecast that today's u.s. total will hit $9.5 billion, up 5% from last year, though shy of the full season's growth rate of 10% because so much is done in store today. many retailers are reporting early holiday shopping 7 in 10 shoppers as a matter of fact started shopping been halloween. more than six in ten have reported out of stock issues that data varies depends on who you talk to. sports apparel recorded its

biggest november in company history. this week's top selling team overall is the dallas cowboys. but the ohio state university is the company's top selling college team goes bucks back over to you >> courtney, i have two buckeyes hopefully sleeping right now in my house, so i get the ohio state stuff. you're not kidding about shopping early i myself am done finished up, i'm weird like that. >> impressive. when you get -- no just lazy, i didn't want to deal with the crowds later. i went to look for christmas trees and the guy at the christmas tree place told me he's almost sold out of christmas trees. he has one more load coming. this is going to be a very different year because of everybody worried the stuff they want may not be there. the supply chain stuff we talk about is no joke. >> absolutely. that's part of it. right here we have the toys, these pop it toys are popular, i

don't know if your kids are into them we were at a small retailer in massachusetts that sells toys they ordered like 88 pop it toys and only got 12 in they don't know if the ones they ordered will come in to your point about the christmas trees when we were talking to different people about their habits of shopping literally on the streets downtown here not far from cnbc headquarters, many did talk about deck raiding early many of us have this desire to get back to normal, regather with friends and celebrate a christmas that looks like the years past let's hope this morning's news doesn't dampen holiday spirits too much. >> i don't think it will we have to remember that as scary as the headlines are, it is very early we have to reiterate, we don't know where it heads it could be something or nothing we don't know right now. let's be thankful and hope for a great holiday season

good luck courtney, i think you guys are going to crush michigan i hate to say it you'll win by double digits. >> go bucks. oh when we come back, do not adjust your televisions there is ind indeed a lot of red on the screen right now, dow futures down more than 700 points off the lows down over 800 a couple of minutes ago also we have a goldman sachs call that dropped late wednesday night calling for faster rate hikes. futures are taking it on the chin more on that still ahead as we head to break, let's look at the cryptos, they are selling in a big way, bitcoin down 7%. ethereum down 10%. we have a big show ahead grab another cup of coffee, we're back in 2 minutes.

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good friday morning, welcome back to "worldwide exchange. if you are just joining us and waking up, you have to check out stock futures today. we are seeing a lot of selling in the futures, dow futures down almost 80 points right now, almost 2%. nasdaq down 200, about 1.7% on nasdaq futures as well it's on concerns of the new covid variant coming from south africa, travel restrictions in place.

there was a passenger on a flight from south africa in israel that was diefd identified with the new variant we don't know much about it. the w.h.o. will hold an emergency meeting today on it. it is not just the equity markets as well. anything having to do with people moving around, whether it's travel stocks or oil, the price of oil did you know 6%, down over 5% in europe as well natural gas on the rise. no matter what happens with covid you have to heat your ho home, you need power let'stalk about what courtney just talked about, retail today normally is a huge day of discounts from retailers you wake up and see the media showing hundreds of people at the e welectronics stores. but not this year.

the average pro motional discount was down this year. labor woes, supply chain crunches behind this let's talk about it. welcome. if you're hoping for the big black friday specials and the local news and national news media showing people running over each other to get a big discount, it's just not happening this year. how do you see it all playing out? >> good morning, brian in collaboration definitive did find out the discount is lower this year unanimous the previous two years. in normal times the average discount is over 40% but that's come down as you mentioned below the year-to-date average and even what we've seen since the past two months.

and this is mainly because of supply worries, right. this has constrained inventory levels for the retailers and has -- you combine that with strong demand for the consumer and that puts them in a unique and strong position to cut back on the aggressive discounting we've been seeing in previous black fridays. so as a result we're seeing that prices are not going to be as low as before. and this is across categories. u.s. small stores especially, over 50% of the merchandise was on sale on black friday and that's coming down to 41% this year still high but below the previous levels we've seen in the previous years. >> given what courtney said about everyone shopping early. we're probably getting data points are we not? we say today is the start of the holiday shopping season, we know a lot of people have already started if not are done. are there any trends we can spot

already? >> despite thehigher inflation and the less aggressive discounting, items are selling out. the sold out rates for the month of november already are much stronger than the two holiday seasons combined from the previous two years and this is mainly across a lot of categories, specialty and the discounters are seeing a lot of those sold out items consumers are -- have that pent up demand, they did go out shopping much earlier this year than the previous years. also, they -- they are purchasing items when we look at the strong categories we're seeing the discounters are continuing to see a lot of the market share from the department stores especially since consumers are trading down and don't want to pay the higher inflationary costs we're seeing that sporting goods will continue to be strong this holiday season as health and wellness are still a top

priority for consumers in their mind so nike, lulu lemon, all those stores are expected to do well and then, of course, home furnishing as consumers have been more comfortable opening up houses for friends and families, they're still decorating their houses. >> or buying or refilling or filling up the new house they have bought or rented as well. and everybody is buying fitness gear because we might have work to do next year. i hope you have a wonderful weekend. take care. >> you too. much more on the markets and your money futures are down 800 points, nasdaq futures off nearly 6% all on a new strain of covid that has health officials on alert. plus the answer to a question we asked you six months ago. we took to twitter and urged

you, our loyal viewer, to predict which would be the best asset performing class between the end of may or today, stocks, bitcoin, oil, we'll show you the results of that six-month poll coming up. stick around ♪♪ at cdw we get your teams work in different places, in different ways and across countless different networks. so how do you get everyone on the same page? microsoft surface devices, orchestrated by cdw. they adapt to each user and deliver multi-layered security,

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good morning, if you are just waking up or just rejoining us here on "worldwide exchange." that graphic is not incorrect. we are seeing a selloff across the board across all asset

classes with the exception of treasury bonds across the world as well. we are seeing dow futures down 700 points right now nasdaq futures are down about 1.7% as well all on concerns of a new super mutation of a covid variant that has been identified insof south africa, a passenger in israel getting off a flight has been identified with it as well the airline stocks are down 6 or 7% right now across the board. it is anything to do with getting out and traveling getting hit right now. the cruise lines down 10%, carnival, norwegian, royal caribbean, down 9% the stocks trading in the pre market, thin volume, not a lot of people on desks, machines may be in charge but it doesn't matter the stocks are being sold and, of course, anything with getting out, being sold.

which means anything regards to staying in is getting a bid. stay at home trade if you will, peloton, teladoc, docusign zoom this is not the first time we have seen it, new variants, new concerns, the machines, the algorithms, programs are in charge they sell certain stocks and buy certain stocks nobody right now is thinking about it they're selling and will buy later after they think about it over the weekend there is a flight to quality, treasuries are getting a bid one of the few things higher crypto is down big but the bond market is up and bond yields coming down to nearly 1.5% coming up, europe taking steps to try to stop flights from some southern african nations as fears of the new mutation of covid start to spread. we'll bring you more on what we know, what we don't, and more on the big-time global market reaction still around

welcome back, we are seeing a market selloff across the boards right now, concerns about a super mutation that's been identified out of some southern african nations as well. that's scaring investors dow futures down 700 nasdaq off nearly 200 as well anything having to do with

travel, as we just showed you, is down 6, 8, 10%. anything having to do with the stay at home trade, it is up right now. it is not just stocks and futures being sold the price of oil is down 6% as well concerns about global demand if this becomes something and again, there's a lot we don't know we'll get meg tirrell on the phone in a moment we are seeing crude oil down 6.5%. it is also the -- sort of the crypto come po inponent of the t everything is being sold it's a sell first, think later type of morning. we talked about it, a lot of desks thinly staffed, perhaps the machines have taken over, bitcoin down 7.5%, ethereum, you have lite coin down double digits, 10, 11, or 12% a lot of red because of this piece of news. which is the new mutation that

is more mutation, sort of a constellation mutation as one scientist called it last night that's of concern there's a lot we don't know, let's find out what we do meg tirrell joins us now, not the way anybody wants to start their friday after thanksgiving. i hope you had a wonderful thanksgiving but this morning is turning out to be something new unfortunately. what do we know right now? >> brian, i spent a lot of yesterday hearing from folks in the public health community about this variant, a weird way to spend thanksgiving. south africa found it early and held a press conference to talk about the mutations they've identified here. what's alarming is there are so many mutations, about 30 in the spike protein which is that important one, the ones that vaccines target allows the virus to enter sells they know what the mutations do

and they're worried this variant could be more transmissible and to potentially evade vaccines and treatments they don't know yet -- they don't have data on those things to confirm that yet. they also don't know whether this variant will be more or less severe. it's in the very, very early stages now, and south africa identified this very early what's interesting about the mutation it can be picked up by pcr testing, so they can track it quickly and then do, you know, the whole sequencing but they don't have to do that in order to be able to track it. so it's in the early stages but you are starting to see a case uptick there still very small, at the beginning of what looks like a surge and they're worried about the fourth wave there in south africa, but obviously you are seeing the uk block flights from six african countries, the world is reacting quickly to this. the world health organization

expect today give it a greek name we'll see if they do that. but it is worrying a lot of people, even though it's very early, brian >> yes, and i think you're bringing up some incredibly important points, sorry you had to spend thanksgiving that way the vaccines may work against it, yes, it has more mutations but they may work. it may not have a higher fatality rate than covid normally does. it may not be more transmissible as well. we have antivirals coming out. they may work. there's a lot of scary words, mutant, variant, these are scary words to a lot of people, but there is no indication, at least as of yet that this may be anymore dangerous, correct, than sort of the alpha or gamma or delta strains? >> there's no confirmation of that, just a suggestion based on what's understood about these

mutations themselves but more work needs to be done to confirm that. but specifically on the anti-viral front, the drug front we'll see the documents on merck's new drug pfizer is coming along after that i don't think it's expected these should be affected by a variant like this. i need to confirm that and learn more about it. but that's one thing in terms of the vaccines, you know, it is expected that these will potentially have to be updated. the companies are monitoring these, i have heard from some of them, they will work quickly to update the vaccines. the reasons people are responding so strongly to this, is delta is so contagious. to see one that can potentially outcompete delta is surprising and one with so many variants is surprising scientists and that's why they're acting like this. >> delta because it's so

contagious crowds out other strains and burns hot and fast as we've seen in india and other places on these vaccines, moderna and pfizer one of the brilliances of them is they can be modified i'm not trying to be overly sunny at 5:30 in the morning with the markets and everything down, but they can be tweaked to evolve like viruses, correct >> absolutely. these companies are monitoring all of the emerging variants all the time to see if they need to redesign the vaccines they've done it. they've designed vaccines to target beta, for example, and they can do it quickly so if they need to act on this, they certainly will. it's a matter of months for them to redesign the vaccines and it's the beauty of mrna. >> meg tirrell thank you for joining us

>> thank you. we'll get more on all of this coming up but let's step out to something we've been waiting six months for. the final results of a poll we asked you back on may 25th it was a simple question, which has the best return between now and the close of business on the wednesday before thanksgiving? s&p 500, gold, bitcoin or oil? your responses were pretty evenly split 25 said s&p, 14% said gold, 31% said bitcoin and almost the same said oil so bitcoin was the choice, and indeed bitcoin was the winner by two lengths. the six month returns go like this, gold lost you money, s&p 500 up 12% oil up 16. but bitcoin, at least coming into today, i wrote it wednesday night, bitcoin is up 47% returning nearly double the next best category of crude, crypto what a pair and thanks to

everybody who voted. we need a new poll but let's make it harder here's the one i'm putting out later today. which one of these will have the best return over the next three months before between now and february 26th? bitcoin, nasdaq 100 etf q q q. the s&p small cap 600 or the japanese nikkei 225. easy to say bitcoin but the law of large numbers and bitcoin is 18%, at least it was this morning coming off the 52 week high the coin can and does move down, bitcoin is down 7% right now as all the global markets are getting hit. i'll put the poll out on twitter. we have more show to do. let's talk about crypto and everything going on. bring in mark from morgan creek capital management he was on the friday after thanksgiving last year when bitcoin was below 20 grand, you said buy it, you were long and strong if people listened to you, mark,

and i hope they did, they made a lot of money obviously right now the markets today going crazy because of this new covid variant talk to us about the longer term prote projections that you see. >> i appreciate you having me back and appreciate the chance to talk to you from the lobby of the indigo hoe teal here in tulsa, oklahoma. it's very early here i'm as excited about bitcoin and other cryptocurrencies as i was a year ago and the year before that, i love these black friday sales. it's like what is deja vu, a year ago down 10% overnight, while we were sleeping working off the turkey coma, and you and i talked about it and it was time to step up at 17,000 that seemed scary having been at 20,000 not that long before, and i think we're in the same place. all the fundamentals of bitcoin

are improving. the number of users, the number of wallets, the size of the wallets, the transactions, all those fundamentals continue to get better at the end of the day, investing is the only thing i know when things go on sale, people run out of the store, it's just amazing. >> you see what's happening in the country of turkey. not obviously the poultry, the country of turkey with an economic crisis, their currency has crashed 30 plus percent. people look at that and say this is why we need bitcoin you have the u.s. dollar, the yen, the euro, but everybody else this is why you need the digital currency because those people are suffering as their currency crashes. >> such an important point as the store value, bitcoin is really perfect it plays the role of digital gold gold has been a great store value for 5,000 years.

from a suit of armor to a zoot suit but digital gold is better, more portable, you think about countries like venezuelan or zimbabwe where they devalue the coin itself. so it's not that bitcoin is getting better relative to those currencies, those currencies ar getting worse. same thing around the world. a global race to the bottom. when countries become indebted like we are in the west, the only way out is to devalue the currency can't pay the debt back, can't restructure it, default on it, so you have to devalue the currency that's why you need in your portfolio a base of crypto as a store value. >> there was a time in your life mark, we've been talking for a

number of years, where you were a stock guy as well. so i'm going to ask you with that beautiful tree behind you, to put on the stock hat given what we're seeing this morning we hear covid, strain, mutation, scary words. it seems like the machines are in charge, do you agree with that right now everybody is doing the covid playbook, sell this, buy that? >> 100%. you're right look, no one is around me, it's early in the morning, people maybe going to go out shopping here a little bit later, but as you said, on these low volume days, these holiday days, if you get any sort of news, the machines absolutely take over and they move with reckless abandon, they don't care about the long-term view, they only care about short term profits. that's what happens. so people need to not panic, they need to buy what's on sale, stay in the store, don't run out

of the store look, i think equities, big u.s. equities and broad western markets, i think are highly valued there are segments of the market in tech that are selling at levels we didn't think possible. 60, 70, 80 times revenues. forget earnings they don't have earnings so it's an interesting time. markets are going to move fast because of the machines. i think the key is diversification. owning things like gold, like treasuries, why would you want to own those they're down that's when you want to buy them, they go down so rebalancing your portfolio critical here. i think it's going to be a rocky few months >> you have these headlines that come out of nowhere. goldman sachs calling for a third rate hike next year, that dropped late wednesday night when the markets were closed, maybe adding a little bit of fuel on the tightening fire as well just to wrap it up, mark

you're living on tulsa time. you are a buyer of bitcoin this morning on this weakness you love the black friday discount as you called it? >> i do. this is a black fridaydiscount buy it don't buy it all today buy some today, some next week, next month keep dollar cost averaging because the price doesn't matter the value is increasing, the price is going to be volatile because humans and machines are volatile you want to continue to increase your ownership of the most powerful computing network that the world has ever seen. ownership is edge here, brian. >> you know what, getting up and doing tv at 4:30, i call that edge mark you are edge. i'll let you get back to -- i won't say your if family hope they're sleeping appreciate you joining us. great call last year this day last year and bitcoin has tripled in price you made

people a lot of money. we appreciate it >> have a great holiday. we'll talk to you soon. >> thank you will do. mark talked about shopping, saw the tree behind him. despite the headlines what the markets are do right now, today, should be a day to be thankful, have fun with friends and family and get out, maybe do a little shopping it can be hard with the headlines but let's do it. joining is managing partner of the forbes company is nate pleasure to have you on. let's talk about friends and family today, last year looked a lot different. are you expecting big crowds as people feel good about themselves, as they should this year >> we are expecting traffic to be up, traffic count to be up, early returns are showing people are coming back to brick and mortar, coming back to the malls.

looking for convenience, to spend time with family and friends in an environment they feel comfortable in many and they go back to their favorite stores >> yeah, they come back to the mall i know online shopping is a big deal but nate we forget as fast as online shopping has grown, in-person shopping is growing. it gets lost in the headlines. we think everyone is at home, not the case at all. shopping is part of our shared experience as americans. this is kind of a hobby. >> it's part of our social fabric, it is. we're getting back to 2019 spending levels and traffic levels we had a drop off in 2020 and in 2021, this holiday season we are expecting to be back to 2019 levels and in some cases even beyond. we're seeing early shopping. we've seen less discounting that's been reported this morning. people are not having to discount because as we mentioned over the past several months

supply chain has been interrupted and therefore the retailers are selling more merchandise at full price. luxury retailers, athleisure space has been very, very well, home furnishings, home goods, that entire market space has had an early start to the season, and again discounting is down to basically nil. >> yeah. and at the somerset collection you guys have done things like offering lockers and delivery in a 60 mile radius, some beautiful properties had a lot of headlines today, i have to cut it short, appreciate you getting up early for us. >> and go blue >> we had the ohio state call earlier, now we have the michigan call. it is. >> it's on it is on. >> nate forbes, appreciate that. gonna be a big game tomorrow nate, thanks coming up, what all of you

should make of all the red on your screen. dow futures down more than 800 pm nasdaq off 2% oil down six ethereum down 10%. all on concerns of a new covid strain coming out of southern africa and a passenger in israel who has identified on this we'll get more on this as well as your weeklynseruyg xt iid bin this is the new world of work. each day looks different than the last. but, whatever work becomes, the world works with servicenow. when it comes to autism, finding the right words can be tough. finding understanding doesn't have to be. together, we can create a kinder,

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♪ dream, dream that's the thing to do ♪ ♪ music ♪ when you see value in all directions, you add value in all directions. accenture. let there be change. time for your weekly insider buying rundown the five biggest insider buys of the week thanks to insider score dot com. let us go. number five is nevro, the director buying 1.7 million. bought 500,000 back in 2019 now coming in with a bigger buy. stock four is telos, the ceo stepping in with a $1.8 million

buy, also a seller in april so this is a reversal sarepta just under 2 million by the ceo. first buy since august of 2019 overall he's bought about 10 million in stock since joining in 2017. stock two, draft kings three board members making a total of 2.7 million in buys usually we focus on one buyer it wouldn't matter because vice chair harley sloan was 2 of the 2.6 million. number one, playtika the ceo to the rescue? maybe. buying 3.24 million worth of the mobile gaming company. the company went public earlier in the year it has been a disaster, the stock way down, so the ceo coming in and buying on extreme weakness there you go

something interesting to note here almost all new names except draft kings. number two all the stocks are down big this year draft kings the, quote, best only down 23%. and a lot of buying on weakness and every one of those buys was over $1 million and we have not had a week in about a year doing this where every buy was over a million. your weekly insider buying the broader markets and bring in greg branch a cnbc contributor. normally today we talked about it's usually a lighter day not today. the markets are pre-programmed, new fears, everything is selling off. what's your advice to our viewers waking up, look at cnbc getting a little nervous >> i find it helpful to diagram what the possibilities are with what the scenarios are i think that can be useful for our broader audience today there are three possibilities with the new strain. the first is it might be more

highly transmissible and that one i think we can say with some assuredness, it's a small sample size but in south africa they saw an increase, so i think we can be assured it's highly transmissible the second factors we don't know yet, more intense symptom sw severity and increased immune evasiveness. what we do know, higher transmissability i think that plays into the situation in europe, and quite frankly, this is conjecture on my part we find it's already there, europe is already surpassing the previous peak of 320,000 last year so severe implications for europe where we'll see more lockdowns and a

retrenchment so those companies and sectors exposed to transatlantic travel, those goods and services from europe, parts of the supply chain, particularly if we find this in asia where manufacturing, shipping, the ports, all of that reflected. so we'll see the inflationary pressures intensify from here. >> we're already seeing anything travel related down right now. there's a lot we don't know. we don't know if it's more transmissible, dangerous, the vaccines may work. we don't know but the markets know what they know and that is the playbook, hit sell, quickly greg, do you think you'll step in and do buying today as the stocks get crushed >> one area i'd look at, i would have said this on wednesday, looking at things that are less s susceptible to the inflationary

pressures and that's technology to me. >> i hope you with and your family had a great thanksgiving and wonderful weekend. thank you. >> thanks. that does it for us on "worldwide exchange. everything is down futures off more than 800 points rkpiinupnd the gang ckg maet coverage next we'll see you on monday. take care.

breaking news this morning, dow futures plunging more than 2% following big drops for stocks in asia and europe overnight global investors spooked as a new covid variant was found in south africa and reopening stocks getting slammed, stay at home stocks picking up steam we are going to bring you complete market coverage this morning, plus it is black friday and that mea