cautious and conservative with your money >>> let's stick with retail theme, joining us with is ceo terry lundgren good to see you. >> good to see you, too, becky thank you. >> here we are on black friday, a day you've worked your entire life, this is an important day and it's a big day to tell us a little bit about what to expect this holiday shopping season, where do things stand so far >> well, first of all, it's been a good year for retail, you know, we're on top of 14% increase of retail sales last year, overall it's been a food year and we'll finish these next six weeks strong, so i understand, you know lots of commentary back and forth about waiting and the like at the end of the day we'll end up with record sales this holiday season and it will be very strong over these next few days between today and cyber monday some of the people you talked to, i worry about how it's stratifies the middle household nick really, really critical to us, becky, that group a lot of that group has money, too, 1.6 trillion more than they had in 2019, prior to is the stimulus relief packages, so there's money t

stocks, the bonds, the commodity and is take a look at the holiday season for retailers with terry lundgrentocks. the dow has turned positive this afternoon as oil as rebounded from its lows. at least the dow industrials are higher but not by much. two one h-hundredths of a percet it seems like a risk-off kind of a day. hershey's and clorox are doing well consumer discretionary, tesla, amazon, target among the stocks leading that group lower as you see them look at tesla, off another 7% today. it's been a rough ride for that company as well as target after last week's report to the bond market we go, that would be mr. santelli tracking the action in chicago. hey, rick. >> hi, tyler if you look at maturities today, they're the only ones in the red meaning that their prices are lower, their yields are higher we're talking two year and three year and even those numbers are now less than one basis point. the rest of the curves in the green meaning higher prices, lower yields and the reason that's so interesting is the fed keeps pushing back at investors. look at the two-year chart you can see,

. >> on friday we were talking about retail and terry lundgren said there's money to spend but it's dwindlingalf, dwindling fast i wonder how you think that squeeze is going to get reflected after we're done with holiday spend. what do you think the first half of next year looks like if that excess saving is drawing down? >> there are warning signs abound, and that's been true for a number of months for '22 heading into '23 what i would tell you is we don't see that today instead, we see continued robust spending we set a number of records across our platforms really globally specifically in north america. the u.s. is 70% of our company in north america and in continental europe in particular we certainly see in some markets, to go back to what you were alluding, to united kingdom, flattish growth we're not seeing that in the united states. while things would have to change, they would have to change adversely from today to make things worse. >> what are you seeing in china right now? >> china is out 3% of our company. it's really hard to say because that 3% has been up and down over the last

. >> i had to take note of what terry lundgren told squawk this morning. he was asked about where the money is coming from that's driving consumer demand. he said there is money to spend. it's dwindling and dwindling fast, but it will get spent this season i wonder how we're going to talk about the consumer once the holidays flush through and we're left with maybe a dimmer picture in q1. >> yes, carl, that's a good point that terry made. that's something top of mind for a lot of retail executives best buy's ceo was among the many who have spoken about how credit card balances are going up, and savings accounts are going down and so that does raise some questions about how even if people do show up and spend a lot this holiday season, what does that mean when they get that credit card statement come january, come february does that then make for a tougher start to 2023? >> melissa, i want to go back to some of the commentary we have gotp from retailers in the past week and a half or so. it started with macy's and we have heard others follow suit, this idea