Good evening, everyone, and welcome. Sue herera is off on this very chilly night in new york. But it was not dramatic and overly stressful. There were record highs along the way but when the bell was rung today and books were closed, winning streaks were snapped on wall street. The dow and s p 500 had their first weekly losses in two months. And the nasdaq posted its first weekly loss in a month and a half. As for today, the dow lost 39 points to fish at 23,422. Nasdaq actually eked out the slimmest of gains and s p dropped two. Dom chu tells what happened this week and what may be next. Stocks can go in value though its been such a long time since weve seen any kind of downside move that many have forgotten that. To be fair, it wasnt like it was a massive panicstricken selloff in stocks. Dow did hit a record high just on tuesday. But its been a slower drift lower since. The dow and s p 500 broke an eightweek winning stream and nasdaq a six week of gains. Meanwhile, financial and Telecom Stocks were biggest laggards. Traders and investors were focused on macys and kohls and push for tax reform out of washington, d. C. Some of the weakness was being put on disappointment over the initial stab at its own version of tax legislation. Next week in addition to all of the headlines out of washington, investors will also be watching a handful of important earnings reports as the season winds down. Including 17 s p 500 companies, three of which are members of the Dow Jones Industrial you have cissco systems and home depot and retail giant walmart and Economic Data on inflation, retail sales and Housing Starts among others. In other words, plenty of things the market could move on but will it . For nightly Business Report, im dominic chu. Here to give us his thoughts on that is matt maley, managing director at miller taeback. Is this market feeling a little tired or is it just a little tired or is it breaking down in any meaningful way . Well, before i answer that question, i have to say very quickly, thank you to all of the veterans out there and hope to have a great veteransay tomorrow and great weekend. But to answer your question directly, i think its getting a little tired. Breaking down, i mean, like dom said, we hit a new high a couple of days ago and the s p is down less than a half a percent from the all time highs but we are starting to see some problems in the marketplace. Weve talked about stret valuations for some time and thats a concern. But more recently, were starting to see a breakdown in the russell 2000. That tapped out a month or two before the market topped out last time we had a correction in 2015 and high yield is starting to roll over a little bit. All of the concerns about what well get on tax reform side. Theres reasons to think we might see a pullback. You do watch the high yield bond market. Why do you think it is rolling over the way it has been and is it sometimes a precursor of what could happen next in stocks . Well, one of the reasons there are some reasons that its rolling over a little bit here that might not be a problem because we see some of the Telecom Stocks and merger with at t and stuff, that might be a problem one of thekewing issues thats taking place in that market. But the thing is it has come down quite a bit. The problem with that, we saw it very, very narrow spreads between treasury markets. In other words, you werent getting very much yield for the risk, the added risks youre taking to be in the high yield market. The nickname is the junk bond market. When yields start to go up it shows that people are willing to take less risk. Wh s to show up first in the high yield market and then tends to spill on the other ones. If we see further weakness there it could be a problem. What are you doing in the portfolios that you or your company runs . What are you telling your clients to do . Well, i think right now one of the things to do is take a little bit of few chips off the table. Lets face it, we had an unbelievable run in the stock market since 2009. Even just this year, great run. And the thing is, 10 corrections have not been eliminated. They were coming the next time it happens, its been so long since we even had a 3 pullback. People might panic when it getz down 10 . They are normal and health k if ye cash on the sidelines, youll be less likely to panic and bail out at the wrong time and b that kind of weakness. Matt, thank you very much and we echo your thoughts about our vets. Disney was one of the biggest gainers on the dow today. The rise follows the earnings we told you about last night. Although earnings missed. It was the Conference Call that made the stock move up on it company ceo bob iger talked about a new star wars trilology and new app that would be cheaper than netflix. Well have more on strategy that will put content partners against each other. Bob iger laying out a vision for new kind of digital company. In which the media giant doesnt rely on tv distributors, but takes its content direct to consumers, using the technology from its preently acquired band tech, the streaming Video Technology company will drive espn app launching this spring and Disney Streaming app scheduled to launch in fall of 2019. Our goal here is to be a viable player in the direct to conser space, space that we all know is very, very compelling space to be in. We also believe that our brand in our franchises really matter as weve seen through netix and all other platforms. Iger saying it will be priced substantially below netflix because it w with less content as disney adds more volume, the price will reflect that. The goal is to attract as many subscribers as possible and disney is putting the most popular grands on the app. Announcing its working on an animated series based on monste inc and live action star wars show, exclusive for the new app. Giving analysts more reason to be optimistic. Were all grasping at straws to figure out what exactly will be the initial kind of investment that they make and how to think about the subscriber opportunity. Its certainly encouraging about disney leading into something broadly adopted. Disney branded content. Disney is interested in some of foxs brands complained to a strategy to better compete with netflix because it would bolster disneys content libraries. Iger refused to comment on those rumors. Heres one to keep an eye on after the bell. Hasbro has made a takeover offer for rival mattel, talks are a result of toy makers needing to survive as kids turn more a more to gadgets. As for the size of a deal, mattels market value is 5 billion. Hasbros 11 billion. Shares of both Companies Initially rose when the news broke but take a look at mattel popping more than 20 . President trump fresh off a feel good trip in china, brought his America First pitch to an economic summit in vietnam today. Adopting a harsher tone, the president said the u. S. Would not be taken advantage of o trade anymore. Kayla tauche wraps up her coverage from beijing tonight. Repr President Trump addressing the apec summit friday, a group of 21 nations representing 51 of the global economy. His message . America first. From is day forward we will compete on a fair and equal basis. We are not going to let the United States be taken advantage of anymore. I am always going to put America First, the same way that i expect all of you in this room to put your countries first. Trump taking a harder line on trade came less than a day after ending a visibly friendly state visit here in beijing. As trump touted economic nationalism, president xi carried the torch for globalization. The two countries still have many areas of disagreement but having the u. S. Out of a major trade deal like the Trans Pacific partnership, could help the talks. I think its a good thing. That way china and the u. S. Can figure out all of the concerns and confrontations first. I think thats more important as a businessman, priority. They are still grappling with the esidents decision early on in his term to withdraw from tpp, which would have represented 39 of worldwide trade. Japan is now spearheading a new significantly smaller deal among 11 nations, could be agreed as soon as this week should canada remain committed. For nightlyusiness report, kayla tauche, beijing. What started as a chinese holiday for people to celebrate their single lifestyle, singles day has become the biggest shopping day in that country and maybe even the world thanks to alibaba. Last year the company had 18 billion in singles day ses and today it said sales surged taking in 1. 5 billion in the first three minutes of the event. 5 billion in 15 minutes. Shares of alibaba were higher in the day. In shanghai for us. Reporter its the biggest shopping day of the year in china, last year singles day chocked up sales that were 2. 5 times larger than black friday and cyber monday combined. And this year Analysts Expect that number to rise to as much as 24 billion. Singles day used to be a day for lonely hearts but in 2009 alibaba turned it into a shopping bon n bonanza. 7,00 american ones and including lululemon and macys, the best severals were apple, nike, new balance and gap and estee lauder. This singles day alibaba is not only talking about sales but its also using the event to show case its new initiatives which the management believes will transform chinas Retail Market and also change what alibaba does in retaili in this country. Alibaba believes the way forward is to mov beyond e commerce and integrate the technology from Online Platforms and users into Old Fashioned bricks and mortars. One of the experiments they are doing right now is with the Supermarket Chain huma, like a high tech chinese version of whole foodsnd the idea is for shoppers to use their mobile phones to scan products for more information and also to place orders online and potentially get these groceries deliver to their home in 30 minutes or they could choose to go to the checkout counter and instead have their faces scanned by a facial recognition system and that is how they pay. It all sounds very futuristic but it is happening now in china. For nightly Business Report, in shanghai. Coming up, follow the leader. Thats what this weeks market mo thinks is a sound strategy for your portfolio. Hell shares of cvs after the stock was upgraded to buy at 79. The analyst says even with the looming specter of amazon possibly entering the pharmacy business, cvs is worthhe risk, especially if it can close on 66 billion merger with aetna. Despite the talk about the end of the Affordable Care act exchanges, one might paraphrase mark twain, reports of their death have been greatly exaggerated because in the first week of open eollment, americans signing up for coverage the number of them is very strong. Bertha coombs has that story. Obamacare is under fire in washington but that hasnt stopped some insurers. Against the odds oscar health is expanding this year with a new plan in ohio cobranded with a legendary Cleveland Clinic. We signed up in the past week since beginning of open enrollment in cleveland, already 25 have chosen their primary care physician through the oscar mobile app. Oscar and Cleveland Clinic are trying to be cautious. Were not looking for this to be too big the first year. We want to work very closely with oscar market this appropriately. But now they are bracing for bigger numbers after anthems exit from the Exchange Last summer. They expect to see Strong Demand for enrollees with chronic conditions attracted to the reputation for high quality care. We expect were going to get coming over to our product. President trumps use of executive orders to undo parts of the actluding some subsidy payments spooked insurers this summer but the director of the centers for medicare and medicaid says the administration is upholding the law, even as she disparaged it on a reasonable Cleveland Clinic visit. Making sure people are aware choices and options but reality is obamacare is not working. This summers uncertainty led to high premium increases which will hit hard for those who dont get tax credits and demand has been strong in the first week of open enrollment. More than 600,000eople signed up in the first four days, up 79 from a year ago. For people who receive subsidies, those higher prices for benchmark plans will result in bigger tax credits and in some cases lower costs. The increase in the tax credit will be so much it will completely cover the premium for the lowest cost bronze plan in the marketplace. A lot of insurers found their first year in the aca and individual market to be tough going, Cleveland Clinics experts its partnership to to do better than break even. We have to drive quality and make care for affordable. Those are no regret moves. If we keep moving in that regardless of what happens in washington, well be okay. Im berth coombs. J. C. Penneyosted the best results in more than a year and that is where begin the focus. The retailer struggling to bring in customers seems to have overcome that challenge at least for now. Same store sales toppe analyst expectations and better than even what j. C. Penney initially forecasted. Earnings and revenue also beat. The company said it is heading into the Holiday Season with an aggressive pricing sfrtrategy a tight inventory, shares up 15 , but a 15 rise just gets you to 3. 17. Finish line was downgraded by analysts who fear the footwear retailers promotional offerings will pressure margins and relationships with major brands. Cowan cut the rating from market pe under perform and slashed its price target. Finish line slipped nearly 9 to 9. 11. The Software Provider al ter exreported a strong quarterly profit. A rise in new companies helped results. O forecast a smaller than expected loss for the Current Quarter and shares accordingly jumped nearly 16 to 25. 30. Hertz said better pricing in the u. S. Helped grow revenues leading to stronger than expected profits. The car rental property said it has made progress in its turnaround plan but cautioned it is now entering a seasonally low period of weaker demand and the company said it plans to make investments this time as well. Shares were off more than 2 . They finished at 19. 56. General electric is planning to cut jobs in its Software Unit ahead of its investor day on monday. They are said to be considering layoffs across all businesses. On monday shareholders expect clarity on the companys growth strategy, a long awaited meeting. Shares rose to 0. 49. Now to the market monitor, our weekly guest strictly focusing this evening on etfs. He has three, first time on the program and we welcome jason brown. Chief Investment Officer at fundex investment group. Tell me why partial to etfs for individual investors as opposed to building a portfolio of individual stocks or maybe manage mutual funds. Whats the appeal . At fundex, leadership changes over time. Sometimes Growth Strategies lead and value strategies and sometimes it pays to invest overseas and sometimes domestically. In the etf, youre not only getting diversified to any market you want to get but o change your strategy by changing one symbol. Not your whole portfolio. Youll give us three picks here. Are these picks yre Comfortable Holding or etfs, you can trade in and out of during the day. I assume thats not what youre advocating . Absolutely not. We started as a Company Investing primarily in mutual funds. And we use etfs as any other mutual fund. These are really designed even though you can trade as often as you want. Usually you do so at your own per i for us we want more lets get to your picks here. Were going to begin with one about as familiar as they come. It is an etf, Dow Jones Industrial dia is the ticker symbol. Why start there . Main reason i think, right now if nothing else, you shouldnt be fighting this market. Youve got to embrace it in some way, shape or form. Why not buy the s p 500, currently youre better served investing in a more concentrated portfolio. T dow has done a little better and certainly you get the blue chips there. Next one is ishares momentum factor etf, ticker mtum. 123 stocks in it. How were they chosen . Sure, this is a factor driven strategy as opposed to the dow buying the market. Here instead of buying cheap stocks, youre buying stocks with good moment you will on a adjusted basis. Currently own the same names but this fund has done a good job of adapting to the changing markets over the last year. Initially dividend stocks and mid cap stocks. A quick thought on the final one, vanguard ftse europe vgk vgk. That gives great exposure my eyes arent what they used to be. To be able to d further into europe,e nestle and Hsbc Holdings and so forth. Its kind of the same thing of global titans and ten basis points to add europe exposure. You hit on the key point here i think, the low Expense Ratios that these funds have. Sure, low Expense Ratio is definitely a key factor. The only negative thing versus a mutual fund. The managers dont get to pick which thinks they might want to exclude. That may be a virtue though. Absolutely. Thank you very much. We appreciate it. Fundex, more americans are traveling but with hurricanes battering caribbean destinations, the travel industry is seeing a bit of a shift. Shares were high, recycling plan, selling properties to buy new high value ones could return nearly 2 billion to shareholders by the end of 2020. Its been a good year for some of the major hotelchains. Take a look how wyndham, marriott and hilton have performed so fa hotel stocks are part of an overall trend in thel industry, it appears that Domestic Travel is the beneficiary of a hurricane ravaged caribbean. Seema modi is in sunny miami with the state of travel. Reporter more americans are traveling and thats good for the economy. Domestic travel is up, new york, vegas, los angeles are the most popular destinations. But as winter approaches and hurricanes have destructed much Holiday Plans in the caribbean, south florida is taking in those visitors. Miami is poised to benefit from some of the disruption in the caribbean. We have capacity and obviously have a great destination. I think were more than able to welcome those displaced travelers into the miami market. According to data from str, Hotel Occupancies are up 8 in the last four weeks compared to the same period last year. With the caribbean and puerto rico in their current state and hotels being closed, were definitely benefitting from somewhat we would call positive compression. If they had plans to go to the caribbean, go south florida and miami beach. Ft. Lauderdale and boca raton saying similar demand. Increase in demand and length of stay that we would expect during this period of time. Youre having a lot of people displaced. There is one worrying trend that travel executives say could hurt the travel industry. International visits to the u. S. Are down. Right now were down about 3 . Every percent is basically youre talking about 2. 5 billion and 5,000 jobs. One percent one way or the other has a huge impact. A stronger dollar and policies out of washington such as a travel ban are behind the slowdown. Middle ea is for all intents and purposes not coming here. Its a shame because we get great people to come here. Middle east visitors spend a lot of money but right now their concern is will i be stopped at the airport. Will i be embarrassed . Therefore we lost aremendous amount of business from the middle east. So far Domestic Travel growth is offsetting the decline in foreign visitors. For nightly Business Report, miami florida. Finally tonight, tomorrow as we mentioned at the top of the show is veterans day, a day to thank all of the men and women who served in the u. S. Armed forces. Such the military was honored at the new york stock change today. Members of the services rang the closing bell and soldiers sang God Bless America and there was also a cake cutting ans it is the 242nd birthday of the marine corps. That folks is nightly Business Report for tonight. Thanks for watching. Have a great weekend, everybody. Wel see you back here next week o this is bbc world news america. Funding of this presentation is made possible by the freeman foundation, and kovler foundation, pursuing solutions for americas neglected needs. Planning a vacation escape that is relaxing, inviting, and exciting is a lot easier than you think. You can find it he i