Theaters. But will these new rules Impact Business . We have all that and more tonight on nightly Business Report for tuesday, november. Good evening, everyone and welcome. We begin tonight with good news about the u. S. Economy. Its a lot stronger than you may think, and than forecasters had thought. The government today out with an upward revision in Economic Growth during the summer months. The july through September Quarter turned out to be a far more robust one than originally reported. Or forecast. By combining growth in the second and Third Quarters, the economy saw its strongest sixmonth performance in more than a decade. So whats next for the u. S. Economy . And what will this all mean for the upcoming Holiday Shopping season . Steve liesman has our story. The economy looks to be finding another gear just ahead of the upcoming holidays. The government reported that gross domestic product, the measure of all the nations output, rose to 3. 9 in the Third Quarter. Better than the 3. 5 first reported, and better than the 3. 3 economists had expected. There clearly has been a meaningful upward move in the economys trajectory over the last couple of quarters. Thats important because as the Federal Reserve gets ready to remove some of the stimulative policies that its had in place, a stronger economy is more likely to withstand that than would a weaker one. Four of the past four quarters have been above 3. 5 . Thats well north of the lackluster 2 growth thats characterized the postcrisis period. Only the storm riddled First Quarter upsets the trend. Without it, its a 4 economy. This report showed greater strength in Consumer Spending, and business investment. Although Foreign Trade was even worse than first reported, a sign of weakness overseas having some limited impact on the u. S. Economy. I would remind people, just a few years ago there was a giant earthquake and tsunami in japan that totally disrupted the Global Supply chain, really screwed up the Global Economy for a quarter or two, and the u. S. Did not go into recession. The key question is whether the u. S. Consumer will be in a shopping mood this christmas, and here the numbers werent so good. Consumer sentiment dropped unexpectedly to the lowest level since june. Defying forecasts for another upswing. Though the economy has been improving, consumers ultimately hold the key to growth, and they remain challenged. While its true that you have a consumer that was a little bit better the reality is the consumer still remains in this very tight band of just north of 2 , and thats been sort of one of these very consistent stories over the course of the last couple of years. The market will digest part two of this weeks data feast tomorrow with new reports on Consumer Spending and income in october, along with housing data, Consumer Confidence, and jobless claims. All this data will help the markets figure out if the Third Quarter strength will continue into the fourth. Stocks sure seem to be betting on it. For nightly Business Report im steve liesman. Mark zandi joins us now with more analysis on the economy. Chief economist at moodys analytic. Nice to see you, mark. Hi, susie. So, are you changing your outlook because of this strong report that came out today . No, no, im quite optimistic about the u. S. Economy and todays numbers are consistent with it. Susie, i dont think we can maintain this kind of growth rate, a near 4 growth rate. But it feels like if you abstract from the ups and downs in the economy were growing about 3 which is good. And i expect that to continue into next year. Or if you get a mature economy like ours growing at 3 , 3. , that is 3re9ty good. The one area i know you know and everybody says has not kicked in is income. Why not . And what will it take to get incomes moving up, and do you expect that to happen any time soon . I do, tyler. You know, the reason why we have not seen a pickup in wage growth is because despite the better economy, we still have a large number of unemployed and underemployed, and thats depressing wage growth. But at the current rate of growth, were creating so many jobs that a year from now, certainly two years from now, we will have absorbed all those unemployed and underemployed. We will see stronger wage growth, and that will kick the economy into an even higher gear. That will be the fodder for more Consumer Spending going forward. So were not quite there yet. But were getting close. You speak about Consumer Spending. I mean what are the chances that consumers continue to prop up the economy . We saw the numbers today on consumer sentiment. They were down. Can the consumer keep this economy, economic engine going . Yeah, i think so. Were creating a lot of jobs. The quality of the job growth is much improved. Were seeing a lot of lowpaying but now were seeing highpaying, middlepaying jobs. I do expect wage growth to kick in. Heres the thing thats really going to provide some juice in the near term, thats lower oil and gasoline prices. Thats like a big tax cut to consumers, and i expect that to help propel Consumer Spending in the christmas buying season into next year. And then you also have low Interest Rates, you have very low debt burdens, and you have now record high stock prices. Everything is coming together for solid, sturdy, even strong Consumer Spending growth into next year. Lets get to the question of the year for, i think, for 2015. Maybe youll agree, maybe youll disagree, and thats Interest Rates and what is next for them. On the one hand you have falling unemployment, that was one of the things that the fed has suggested might well trigger a tighter monetary policy. On the other hand you have low and maybe even falling inflation. And the last thing the fed would want to do it would seem to me would be to raise Interest Rates in the face of inflation that is below their target. What do you say . Yeah a lot of moving parts here. But i think if you buy into my script for the economy, a better economy, lower unemployment, accelerating wage growth, by the time we get into mid next year, late next year, i do think at that point the Federal Reserve will begin to raise Interest Rates. Of course, theyre coming off of zero, so theyre incredibly low, and they will raise them very slowly, at least initially. So, my sense is the higher Interest Rates will, you know, theyll they wont hurt the economy, because it would be creating so many jobs at that point the economy will have so much momentum that well be able to digest those higher Interest Rates. But higher Interest Rates are coming. All right, mark, well leave it there. Thank you so much, mark zandi with moodys analytics. Apple, the worlds most valuable company, has gone where no other firm has been before. Its market valuation topped 700 billion for the First Time Ever today. Despite an early raise shares of the iphonemaker did end lower down nearly 1 when all was said and done. But that 700 billion market value is equal to that of exxon mobil the worlds second most valuable publicly traded company and the drug giant Johnson Johnson combined. Put it into perspective. 92 of the companies in the s p 500 have a market cap under 100 billion. Other fun fact if apple were a country, it would be the 20th largest in the world when you compare its value to gdp. And consider this with 700 billion, you could buy about half the worlds population an iphone 6 with a twoyear contract. Despite that better than expected report on Economic Growth that we just told you about, stocks ended the day mostly lower. The early boost stocks got from that gdp figure was offset by a surprise decline in Consumer Confidence this month. And a slowdown in growth of home prices in september. They grew by about 5 year over year. So heres how things looked at the close. The dow lost three points, the nasdaq was up three. And the s p was down by two points. Two days ahead of a highly anticipated opec meeting over in vienna, crude prices sank to fresh fouryear lows after an impromptu meeting by Oil Ministers from saudi arabia, venezuela, and nonopec members russia and mexico broke up without any agreement on cutting production level. With that domestic crude fell today by 1. 69. To close just above 74 a barrel. Brent crude, the international standard, also fell. It was down 1. 35 a barrel to 78. 33. Another type of energy is getting some scrutiny from the highest court in the land. The Supreme Court agreed to hear complaints from 21 states and the Energy Industry that federal epa limits on mercury emissions from power plants after they were first imposed are too costly and too expansive. U. S. Bank regulators have approved wells fargos plan for its own theoretical bankruptcy. The Federal Reserve and the fdic said wells fargos socalled living will still had a few shortcomings to be addressed next year, but would provide what it said was an ordinary winddown in a bankruptcy. The blessing sets wells apart from several of its big bank peers whose plans were rejected by the fed last summer. Mixed Quarterly Earnings from hewlettpackard tonight. A disappointment for investors hoping to see better results now that the tech giant is three years into a planned turnaround, including splitting the company into two parts next year. Hp earned 106 a share right in line with analyst estimates. Revenues of more than 28 billion were slightly lower than forecast as sales fell 2 . This is the 12th decline in sales in the last 13 quarters. Shares were initially down in late trading as the company lowered Earnings Guidance for the current. And still ahead, youll soon see calorie counts in more places than ever before, as the fda issues new rules and big changes for the food and restaurant industry. New federal rules out today issued by the fda mandate clearer calorie counts on food consumed at chain restaurants, theaters and amusement parks, and on prepared foods bought at some groceries or convenience stores. Its part of the rule making of the 2010 Affordable Care act. Sarah eisen has the story. Like it or not, counting calories is about to get a whole lot easier. After four years of work, the food and Drug Administration has finalized rules requiring calorie information to be listed on the menus of chain restaurants, and on vending machines. I think its a great idea. If i have a craving for something im probably going to eat it anyway. Some days i care. Some days i dont. According to the National Restaurant association, about 200,000 locations will now have to post their calories. And Entertainment Venues that serve food like amusement parks and movie theaters will also need to comply. I think consumers really do want more information about the food that theyre eati and this is responsive to that, and industry has recognized that Consumers Want this information, too. Under the rules, each menu and menu board must include the statement, quote, 2,000 calories a day is used for general nutrition advice but calorie needs vary. Some cities and states already have similar requirements but Industry Associations have pushed for a single nationwide standard for some time. The Affordable Care act made it a law. So anyone dining out will have clear, easytouse Nutrition Information presented in the same way no matter what part of the country theyre in. And the labeling that has already occurred hasnt had any measurable impact on business according to the mpd group that says Restaurant Visits were up 1 this year. And up 2 at quickserve restaurants. The new rule will apply to restaurants and vending Machine Operators with 20 or more locations. They will have one year to comply. For nightly Business Report im sarah ei American Consumers also have an appetite for Better Health care. This is the time of year theyre reviewing their options for Health Insurance and payment plans. Cvs, the giant pharmacy chain, is becoming a major player in health care, thanks to a big push by the companys ceo. Tonight we hear the views of larry merlo in our segment. Weve seen the increase in terms of people getting the flu vaccine. Larry merlo isnt a pharmacist anymore, but as ceo of cvs hes reinventing its pharmacy business so people view the chain as the place to go to become healthy. Last winter, he announced that cvs would stop selling cigarettes. He also renamed the company cvs health. Formerly known as cvs care mart. Cvs is also the Fastest Growing provider of walkin clinics, operating more than 900 of them. Its opening three new minute clinics every week, because merlo says the changes in health care demand it. Today, we have a shortage of primary care physicians, and at the same time, theres more people coming in to the Health Care System. So we see an opportunity to increase access to care. And at the same time, to be able to provide that care at a lower cost. The Business Model for health care really hasnt changed much for decades. You have a doctor, a specialist, you can go to a hospital if you need to. What do you see from where this whole Health Care System is going . We describe it as the retailization of health care. Where the consumer is going to have more responsibility, and accountability, in terms of making Health Care Purchasing decisions. So i think were beginning were in the early innings of that. So, larry, you have been in this business for a long time. When you look back, was there anything that you anticipated back then that would be good innovations that were seeing today . The one thing that really hasnt changed is the fact that, you know, the pharmacist is the most Accessible Health care procession. Here we are in a store, we can walk back, talk to the pharmacist, you can pick up the phone. You really cant do that with any other, you know, health care professional. And i think the role of the pharmacist is evolving. They, today, are the face of Neighborhood Health care. And you know, i think the pharmacists will take on an added role in terms of not just, you know, dispensing a prescription, but, you know, adding, you know, advice and counsel, and being a Health Care Concierge to some degree. You know one of the big worries for many people is that their companies are not going to be paying for their insurance anymore. Is it just a matter of time that american businesses are not going to be paying for your insurance and theyre going to offload their employees to the exchanges . Well, i dont see that trend occurring in a meaningful way. I think, you know, when you think about the Value Proposition for employees, yes, theres, you know, the base compensation programs, but you know, all of the other benefit programs to include health and medical benefits, thats part of that Value Proposition. And i think employers will be will be very cautious about, you know, how they think about that before they simply move, you know, large percentages of employees into the exchange population. Who do you fear is your competition . Is it walmart . Are those walmart care clinics a threat . No. I think that there are various forms of competition across all the businesses in which we operate. And you know, i think that, you know, we look at, you know, whether its walmart, or walgreens, or an express scripts, i think theyre all competitors. So do you ever see yourself getting into the Insurance Business . You already have the prescrip you have your clinics. Youre coaching people on how to quit smoking and how to sign up on the insurance exchanges. Well, you know, susie, its a great question. Were actually in the Insurance Business today. When you think about medicare programs, Medicare Part b programs for seniors for Prescription Drug coverage, you know, we actually have an insurance product. It happens to be the second largest provider in the medicare Prescription Drug market. Weve seen now with this open Enrollment Period that more people are getting insurance. With people having more insurance, what does all this mean for cvs . Does that help you . Well, weve seen that, you know, as, you know, people enter the Health Care System, theyre able to utilize, you know, the Health Care System, and we have seen a modest improvement to our business as a result. I know you spend a lot of time talking to customers in the store. How are consumers feeling these days . I think they continue to be, you know, very cautious. I would describe the consumer as, you know, a smarter consumer. And i would describe our economy as one that is in constant pause. We see some positive movement in the right direction. But, you know, then it comes to a halt. I dont think weve seen anything that, you know, you would describe as sustained momentum. Mmhmm. As the ceo running this huge company, what worries you . Or what keeps you up at night . I do worry about, you know, overregulation. And you know, the threat that that has in terms of, you know, getting in the way of private Sector Innovation. And i think that, you know, Industry Needs to continue to, you know, work with the policymakers, and the regulators in terms of ensuring that, you know, private Sector Innovation is not stymied or compromised by regulation. And you can watch the extended version of my interview with larry merlo. Just go to our website nbr. Com. Tiffanys samestore sales sparkled. That sent the stock to record highs and that is where we begin tonights market focus. Investors ignored the earnings and revenue myths and weak fullyear Sales Forecast but Strong Demand in the americas helped tiffany pull off a higher Comparable Store sales number and that cheered investors. Shares were up more than 2. 5 to 107. 60. Dsw at the other end of the retail food chain, Discount Shoe retailer posted better than expected Third Quarter results. The company hiked its full year earnings forecast shares 2 higher, 34. 38 was the finish today. Hormel the maker of spam posted Quarterly Earnings that came in a penny blow analyst estimates. It also gave a 2015 outlook that fell short of expectations. The meat company did hike its dividend by 25 to 1 a share but still the stock fell by more than 5 to 51. 32. And cost cutting and higher menu prices paid off for Cracker Barrel this quarter. The restaurant chain posted earnings that were up by 25 , and it looks like the Company Expects to keep up that momentum, raising its earnings and revenue guidance for the year. Shares were up more than 3 to 124. 40. Several businesses were burned, others looted, when protests erupted in ferguson, missouri, last night. The violence came about following the decision by a grand jury to not indict local Police OfficerDarren Wilson in the shooting death of 18yearold Michael Brown in august. Scott cohn joins us now from ferguson where tensions remain high. Scott, what are people expecting this evening in ferguson . And what are local Business Owners telling you about the impact that these that these burnings and lootings have had . Well, its too early to obviously put a number on economic impact. But if you look at west florissant avenue behind me, usually a busy thoroughfare, it is shut down. This is considered a crime scene and an area where all hell broke loose yesterday, in fact. Looters, protesters, police, gunfire, not far from here, fires across the street. So, the concern is that its going to repeat itself, but theyre taking extraordinary steps to try and prevent that. So, what are Business Owners telling you about are they just shutting down their businesses . And when did this whole situation stabilize . Any sense of that . Well, the hope is that it stabilizes quickly. The National Guard presence has been ramped up considerably tonight. Three times the number of guard members will be very visible compared to yesterday. And when it stabilizes depends on when tensions cool. But theres a lot of talk about extending this as sort of an economic boycott in to the thanksgiving postthanksgiving holiday season. Black friday. Theres a movement to try and basically withhold money from businesses, and from the economy, and so, the people here get the respect that they feel they deserve. So this is part of a campaign to not shop this weekend, and curiously, what do the do the aggrieved people, the demonstrators, think that would do . They think that it will make their presence known. It will make people understand the impact that they have. Africanamericans contribute about 1 trillion to the economy every year. And so would just logically be a significant part of the Holiday Shopping revenues for retailers and businesses. And so, if they stay home, they apparently reason that that would have an impact, would make their opinions known to people beyond just Law Enforcement and beyond their own communities. And so this is a call to stop shopping, to stay home, nationwide, for people in the Africanamerican Community . Am i understandi thats what it is. And we dont really know how much is taking hold. But there are a lot of people certainly talking about it. All right, scott cohn thanks very much in ferguson, missouri, for us tonight. And coming up on the program, why almost every farmer in california, the nations biggest agricultural state, is keeping a close eye on a peach farm. The pension benefit guarantee corporation, this the federal agency that ensures private pension plans, will now allow you to roll over your 401 k savings into your companys pension plan, increasing your monthly income during retirement. And still guarantee the portion you roll over. One of the benefits, according to the experts, if your pension fails youll still get your 401 k rollover money in annuity payments. But they also say rolling over 401 k money into an ire ra instead offers investors more control. At the nations largest peach farm theres a big food fight going on. Its being closely watched by both small farms and big agricultural giants. This dispute involves the farms owner, united farm workers union, and a contract that the state of california is trying to force on the farm. Jane wells has the details. Reporter it is the most contentious farm labor standoff in decades. Outside Los Angeles City hall this fall, united farm workers and supporters protested against a farmer hundreds of miles away for not enacting a new contract. In a case being watched by every farmer in the nations biggest ag state. But not everyone here was prounion. These people they just want to take our money away. Reporter she has worked for garrwin farms, the largest peach operation in the country. Dan garrwin said the ufw organized workers here in the 90s then disappeared without negotiating a contract. For 18 years no letters, faxes, phone calls, no access on the fields to see the employees. But two years ago the union returned. Some workers balked at the idea of paying union dues and eventually there was a vote on whether to decertify the ufw. That was a year ago. We still dont know the results. Instead, under ra law, the state agriculture Labor Relations board came up with a contract for garrwin. A contract he is fighting in court. No business will survive under a process where the government literally writes your labor contract for you, and forces it on you and employees. We now have a contract which they refuse to implement. Reporter what about last years vote to decertify the ufw . The state will not reveal the vote results. Its holding a monthlong hearing investigating whether garrwin coerced workers to kick out the union. They would like you to focus on counting the votes. And ignore everything that was done to, to, to get to an election. Reporter both sides continue to press their cases in court, and in the court of public opinion. While the results of a yearold vote on whether to keep the ufw remains a secret. For nightly Business Report, jane wells, los angele and that is nightly Business Report for tonight. Im susie gharib, thanks so much for joining us. And im tyler mathisen. Thanks from me, as well. Have a great evening, everybody. Well see you back here tomorrow night. Nightly Business Report has been funded in part by the street. Com and action alerts plus. With jim cramer and fellow Portfolio ManagerStephanie Lynch share their investment strategy, stock picks and market insight. You can learn more at thestreet. Com nbr. Everybodys doing it, come on narrator belva stone may seem like an ordinary 27yearold but three nights a week, belva dabbles in the preorderal, instructing other young women in the ancient art of poi. Tonight we visit the frontiers of the dance world, where fire dancing is just one of many ways that the ancient and contemporary are merging to create new forms of bodily expression. In our first story, we explore the mesmerizing art of butoh, with ledoh, one of the bay areas leading practitioners. Theres something about the rawness in it, and something that hits us in the gut