Jobs. Todays april jobs report wasnt very strong but it wasnt terrible either. The not so good part was that hiring slowed significantly. In fact, job growth was the slowest since last september. The u. S. Economy did add jobs but just 160,000 of them, far fewer than the 205,000 expected and below the average of the past three months. The Unemployment Rate remained steady at 5 . The good news was that worker wages picked up. Average Hourly Earnings ro rose. 3 . More on the american jobs picture. Reporter job growth in april was the weakest in seven months. Nearly all the gains came from three sectors professional and business services, health care, and finance. Which produced a combined 129,000 new jobs. I think overall the signal from the data has been that things are a little weaker than we thought. I dont think its drama i think were still improving, just at a somewhat slower pace. Reporter president obama pointed out the u. S. Job market continues to outperform most other major countries. Weve got to do everything we can to strengthen the good trends and to guard against some dangerous trend in the Global Economy. Reporter the state of maryland is answering the challenge. In march it led the nation in job growth. Employers generating 19,300 new jobs with hightech employers leading the way. At the top of the list, sienna, a Global Leader in network commuting, headquarters outside baltimore. With 5,000 employees worldwide and a market cap in compels of 2 billion, one of its Biggest Challenges is the increasing competition for skilled workers. We can pick and choose to a certain extent and were seeing more candidates coming to us, not just talking to sienna, clearly talking to others. We have to get harder to get them to choose us over the other offers they may have or be pursuing. Reporter Christine Keck is a recent hire. Its her job to tell the sienna story to the analyst community. She says her years of experience have now paid off in the best job of her career. Sienna makes the gray becomeses with the bloongy lights that make the internet work. And thats never been more important than now. We have internet economies, we have cell phones that are driving peoples businesses and livelihoods. And the teenage kids who cant get themselves off of snapchat. Reporter increases in workers pay over the last 12 months was one of the few positives in the april jobs report. If the slowdown in job Growth Continues it reduces the likelihood of rate hikes by the fed before the president ial election. In washington, im Hampton Pearson for nightly Business Report. Today the president of the Federal Reserve bank of new york said it is reasonable to expect that the central bairpgs will raise Interest Rates twice this year. In an interview with the new york times, bill dudley conceded that the jobs report was weaker than expected but that it doesnt necessarily change his economic outlook. John sylvia joins us now to talk more about the state of the labor market, hes chief economist at wells fargo securities. How much of this falloff in hiring is attributable perhaps to a slowing economy and how much may be factors . There may be some seasonal factors in the retail trade numbers. But also perhaps in the construction numbe. But id go back to your earlier point, tyler. The wage gains were pretty significant. And combined with even modest general gaib gains, youre talk personal income gains that will sustain Consumer Spending going forward. Do you expect that that trend in wages will continue . Because weve been waiting for a long time to see significant improvement or at least noticeable improvement in wages. Sue, id go back to your sienna story. That just ties in that when youre looking for skilled workers, and we increasingly are looking for skilled workers, in a somewhat tight labor market with a 5 Unemployment Rate, i do expect that wages will continue to rise. And both wages and broader compensation, sue, i think is on the rising trend. All in all, then, do you think that Interest Rate hikes are on the table for as early as june . Or what are you thinking there i think june is still possible. But i would be very cautious here. Dont forget were still going to have Second Quarter gdp, gross domestic product, growth at below 2 , most likely. Thats going to be a very tough environment to the fed raise in june. They may raise in september and december, so that would give you your two rate hikes. June is iffy with below 2 growth. The Participation Rate is something that i watch and it came in at 62. 8 . Down about. 2 . Not a significant falloff but does that worry you at all . Absolutely. Its just not picking up. One of the great things that happened in the 1980s and 1990s is we brought in a lot of people at the margin to participate in the labor market developing skills that would help them over time. Thats just not happening right now. So it does worry me that youve got an improving labor market but its a very thin improvement. Productivity earlier this week. The numbers were a little soggy. Whats the problem . One, how do we measure productivity in an economy thats increasingly serviceoriented . Tyler, we used to be able to look at manufacturing, measure i couldnt tell put pretty easily, the number of workers pretty easily. Now in a Service Economy its much more difficult to measure those productivity gains. John, thank you very much, have a great weekend. John sylvia with wells fargo comput securiti stocks shrugged off w than expected job growth. The Dow Jones Industrial ave gained nearly 80 to 17,740. The new mexiasdaq added 19. The s p 500 rose 6. For the week the major indexes were lower. Dow and s p, this is their second straight week of losses. For the nasdaq its third. The canadian wildfires we told you about yesterday, it is spreading. The big one. According to officials it is threatening two oil sands sites just south of ft. Mcmurray, alberta. The fire has already prompted precautionary production cuts and shutdowns. That along with a drop in the number of u. S. Oil rigs sent Prices Higher today to more than 44 a barrel. Louisiana is one of the most important oilproducing states in our nation. A gateway to the gulf of mexico. The state is home to both drillers and other energyrelated industries. And the long decline in oil prices hasnt gone unnoticed. Brian sullivan reports tonight on the economic squeeze from larose, louisiana. Reporter the crude oil prices are more than 20 a barrel off their lows. Dont tell anyone here in louisiana that there is a recovery in the oil and gas business the industry is still being hit hard. The industry here is different than most other states because much of it takes place in the water which is more complex and means higher costs. Costs Oil Companies dont want to or simply cant pay. Which means many of the ships and barges that support the industry arent working. Gulf of Mexico Oil Production is actually up and projected to hit a record over the next two years. But that output is from existing wells. New projects need to be started to get people working again. As the owner of an oil rig repair and maintenance business tells us, 45 or 50 per barrel oil wont restart the industry. I was hoping that magic would be 45 for the inland water rigs and its not. I think we might need 60, 65 for operators to pick the inland bargeries back up. Reporter workers had to be laid off and unemployment is up across the state. Crudes downturn is not just an oil story. Its also being felt in Industries Like fishing and shrimping. Captain James Blanchard in louisiana tells us he recently had a couple of guys who had been laid off in the oil business looking for work on his boat. Over the last year ive gotten more phone calls from people thats been laid off looking for jobs. I have a crew of two. Only so much i could do. Reporter but there are not enough jobs on the water to go around. Another shrimper we spoke with said hes had more than 20 calls recently but laid off oil and gas employees looking for work. Work he simply doesnt have. For nightly Business Report, im brian sullivan, larose, louisiana. To read more head to our website, nbr. Com. Still ahead, courtroom drama. The dramatic start to a trial, expletives and all, that centered on a 92yearold media mogul. Its the trial thats captivating wall street and hollywood. At stake, money, of course. But also who gets to make health care and other personal decisions for media mogul Sumner Redstone of via come and cbs fame if hes unable to do so himself. The frail 92yearold is both companies largest shareholder. The trial today began in dramatic fashion. Julia boorstin tells us how we got here, hot players are, and what exactly is at stake. Reporter tears. Fbombs. A 150 million counter suit. A dramatic first day in court in the Sumner Redstone trial. There are two key questions in this lawsuit. Was Sumner Redstone mentally competent when he removed his companion and exgirlfriend manuale heardlight erzer and kicked her out of his pass . Two, was he unduly influenced when he did so in allegations he was incompetent have had ripple effects on the companies he controls sparking shareholder lawsuits. Redstone stepping down as chairman of body cbs and viacom. If redstone is deemed mentally competent that will shift control of his 80 voting stakes in cbs and viacom to seven trustees including his daughter sherry and felito mann. There will surely be questions asked about who knew what and when. The court had its first problems of redstone in a videotaped testimony played for the judge. A transcript was then released to the public in which redstone made ample use of fword and another derogatory term to describe herzer, saying she stole money from him and doesnt want her in his life. When asked if he loved her, he said no, he hated her. He says hes happy with his daughter sherry in charge of his care. Judge cowan told herzers attorney the burden is high to show why redstones testimony and desires should not be respected. Stressing that redstones welfare is the most important thin dr. Steven reid who examined redstone on behalf of manuale herzer testifying redstones mental status was severely compromised and he didnt understand the consequences of his actions. An additional twist, Sumner Redstone plans to sue his exgirlfriends and former companions, manuale herzer and sydney holland, to recover the 150 million he gave them. The suit will also amuse herzer and holland of elder abuse. For nightly Business Report, im Julia Boorstin in los angeles. Cigna raises its yearly Earnings Guidance and thats where we begin tonights market focus. An increase in membership in the Health Insurers commercial and government businesses helped to lift profit higher and top street estimates. Revenue also rose but fell short of targets. Shares of cigna fell 3 to 130. 85. Madison square garden saw its loss widen in the latest quarter but the Entertainment Company reported a jump in revenue as higher broadcast fees helped to lift its results. Shares were down just a fraction to 161. 60. Warehouser which owns more than 13 million acres of timber land in the u. S. Reported a decline in profits but saw an uptick in sales. Earlier this week the company unveiled its plans to sell its pulp business to paper and packaging distributor International Paper in a cash deal worth 2. 2 billion. Shares of warehouser up a tick to 31. 61. Marriott international raised its Quarterly Dividend to 30 cents a share, that is up from 25 cents. The yield on the stock is now 1. 73 . Shares though down fractionally at 69. 16. Profit grew more than 15 at Cognizant Technology but the i. T. Services provider saw slower Revenue Growth as clients spent less on services. The company also issued a downbeat forecast for the furnt quarter, citing softness in the health care and Financial Services sectors. Despite the news, investors were pleased with results, shares up 5 to 60. 55. Operating profit fell 12 at berkshire hathaway. That missed estimates as the conglomerate owned by Warren Buffett cited weakened demand in its railroad operations. Despite that decline overall profit rose 8 . Shares remained unchanged in afterhours trading but they did finish the day up a fraction to, get ready, 216,999. 98. This weeks market monitor has stock picks he says will rise 10 to 14 over the next year. Kevin karan, Portfolio Manager with washington increasing advisers. Last time he was on in october he recommended tj macs which is up 6. 7 , General Mills which is up 6. 4 , and microsoft which is down 4. 7 . Welcome back, kevin. Nice to have you here. Good to be here, thanks. First of all how you feel about the market overall. Weve had increased volatility, now a bit of weakness in terms of economic stats. How do you feel about the equities situation . The global fundamentals are challenging when we look at earnings, were seeing four quarters of down earnings. Overall were working through a difficult patch for the overall Global Economy and consequently focusing more intently than we have in a long time on emphasizing quality. Even if it means having to pay up a little bit for it. So were a bit more cautious with portfolios and trying to position them for whatever comes, whether its a rebound in the Second Quarter, second half of the year, or whether or not we have some more tough slogging ahead. A couple of beveragemakers on your buy list. One very big. And alcoholic. One smaller. Lets start with the bigger one. Okay, so were looking at budweiser as a company that is going through a transition. Theyre looking to make a very substantive acquisition in terms of their purchase or looking to acquire miller. And this is going to create a very large Global Consumerbased franchise, has a lot of market power assuming it gets to regulatory approval. We think ultimately down the road this has a lot of this is going to have a lot of Value Creation globally. And tied to a very consistent performance from the Global Consumer with an added bonus in the emerging market consumers should we begin to see some improvement in those markets in the longterm. We think that stock can go to 138 and rising dividend to boot. Okay. Dr pepper snapple, price target 102, you say a wellrun company with really good brands . This is a Company Whose market cap is onetenth the size of the we wu talked about. Its smaller, its got better ability to grow from the smaller base. Theyve done a very good job getting ahead of consumer trends, moving away from sugary, carbonated beverages, focusing on low sugar, not as carbonated beverages. Theyve found a sweet spot. Schwepps ginger ale is there, teas. Theyve been growing nicely. A Boring Company but not boring for the dividend industry whos looking for a rising stream of income, that dividend is growing nicely, we think that concontinue. Your final one honeywell . Wellmanaged company, a global conglomerate. Most people know them, if you look at your thermostat thats on the wall, those kind of things in the the home. Its a Much Bigger Company and its been very well managed from an operational point of view. Done some very good acquisitions in the past. We think thats a toptier company that can go to 129, maybe 130 a share in the next 12 months. Thanks for staying late for us, we appreciate it, have a great weekend. Kevin karan with Washington Crossing advisers. Coming up, shattered glass. The big Business Opportunity a few guys saw when others could only see a broken iphone. This weekend is the 142nd running of the Kentucky Derby. The derby is one of the most heavily wagered events of the year. About 130 million in bets were made last year. More if you count wagers that werent on the books. The overwhelming favorite to win tomorrow is nyquist, odds at 31. The purse likely 1. 6 million for the winning horse. Last Year American pharoah won the Kentucky Derby and then went on to capture the triple crown. Americas cup. It is the most prestigious trophy in sailing. This weekend boats like youve never seen before will begin competing for that coveted award. As Courtney Reagan explains from new york this year its all about technology on the water. Reporter the battle for the oldest trophy in sports returns to new york city for the first time in nearly a century. This weekend, six teams will compete for points in the americas cup world series that count toward the final event in bermuda next year. Oracle team usa is the current defending americas cup champion but Emirates Team new zealand is leading the current series. The boats have come a long way in the 165year history of the sport. Today technology plays a big role. What makes the boat so special is the fact that it literally flies above the water. It hydrofoils above the water. Its very, very powerful. Everything has to be human powered. Doing speeds up to 50, 60 miles an hour. Like auto racing, the harder you push it, the faster you go. You cross that line, youre going to feel the consequences. Reporter the twinhulled carbon fiber catamaran is the lamborghini of sailboats traveling most of than two and a halftimes of the speed of the wind, up to 50 miles per hour. The 45footlong vessel with 84foot sails literally flies or hydrofoils six feet or so out of the water. I got to experience it all firsthand. Im holding on reporter billionaire oracle founder Larry Ellison is an expert sailor himself and founder of oracle team usa. Ellison has also helped revive interest in the sport on both a fan and commercial level. Larrys obviously a very passionate fellow. Very passionate about the americas cup. And was very much instrumental in creating the concept behind the modern americas cup television properties. Reporter tv licensing for the americas cup has increased more than 300 , and thats drawn the attention of big sponsors including Title Sponsor louis vuitton. Bmw, fremont, sperry are among the others. For nightly Business Report, im courtney r there are about 2 billion smartphones in the world today. A number expected to triple by 2020. Cell phone repair has turned into a 4 billion a year industry. And thats why three young men in orlando, florida, had a feeling that something good might happen back in 2009 when they got the bright idea to fix smartphones. It happened to Justin Weatherall in 2008. He dropped a new iphone 3g. The screen, an ugly web of glass shards. He was only 21 but hed already built computers and tried to sell them. It was no surprise really when he took things into his own hands. Ended up trying to fix it myself. And failed miserably. Reporter his friend david, mechanical engineer, warned him not to do it himself. I said, that sounds nuts, buy a new phone. Reporter instead weatherall ordered more parts and a bunch of broken phones. He figured out what kind of glass to use, began sourcing proper screws and tools. In weeks he and his buddy learned to fix apples stillnew and stillmysterious iphone touch screens. Started to realize these things werent as mystical. Once you got inside them, they were an understandable device. Reporter they began fishing for customers on ebay. Later on their own website. For about 80 bucks a pop. It was almost overnight that we started getting some clicks. Reporter one of weatheralls coworkers suggested a name for the Side Business you break, i fix. By night they fixed phones at weatheralls house. On his lunch hour he met locals at restaurants. People treated us like magicians. When i went to panera and fixed somebodys phone while they dran tea, youd have thought i pulled a bunny out of the head. Reporter friend trujillo thought they could do better. Mailing their phones and being without them that long, thats crazy. Reporter he wanted to open a you break, i fix store. So he made weatherall and rife an offer they couldnt refuse. I put up the money, if it works, great. If it doesnt, you guys still have your internet business. Reporter late summer 2009, the first you break, i fix store opened in orlando. In just two months, store sales outpaced the website. Three months in, a second store opened. Three years later, they owned 47 stores coast to coast, fixing not only screens but water damage, replacing batteries, retrieving data in phones, tablets and pcs. To grow faster they decided in 2013 to begin selling the you break, i fix name to franchise owners. Now there are more than 190 you break, i fix Stores Across the u. S. And canada. I just thought, its a Phenomenal Growth story. Reporter daniel lu ought to know a good growth story, he worked on wall street for 30 years. He just opened connecticuts first you break, i fix in norwalk. He and employees went through the sixweek training program. Theres one that breaks every two seconds. As i learned a long time ago, you can make extremely healthy returns by being first in a growing industry. Reporter healthy . You bet. Store sales hit 62 million in 2015. Weatherall can still fix a phone when he needs to because the campaign to make devices great again isnt ending any time so. To have grown to 190 stores is incredible. But what blows my mind is that weve barely scratched the surface of whats possible her scratched the surface. Well. Intentionally said. The you break i fix guys expect to have 275 Stores Opened by the end of the year. In case youre wondering they say it can take about 125,000 all in for new owners to get a store opened up. Costs vary depending on where youre at. That actually is not all that big a price tag. Compared with other franchises, a fast food place. We should shift. I am so nonmechanical. That does it for nightly Business Report for tonight. Im sue herera. Thanks for watching. Im tyler mathisen. Happy mothers day. Thank you, and to joan as well. To all mothers out there, have a good weekend, see you. John a Trump Victory in indiana, and then the dominoes began to fall. Consensus on the republican candidate. Democrats. Se for the im john harwood in for gwen ifill this week. Months frome, six election day, tonight on washington week. And then there was one. Mr. Trump i actually wish the primaries were not over. Its so fun this way. But everybodys out. Left. E only one thats ok, right . John as his primary rivals fall away, donald trump looks to the general election as the Presumptive Republican nominee. Party establishment ready to jump in and support him . Im not ready to do that at this point. Im not there right now. And i hope to, though. Democratic on the side, Hillary Clinton inches closer with an eye on