E new homes were sold in july than in nearly a decade. Fuic market remains quite healthy. According to the commerce department, new home sales rose. Ore than 12 s were more than 30 above their year ago levels and were especially st rates and low unemployment. Now, some of the incre e les has to do with first time market and that means homebuilders are catering to h smaller, more affordable ones. Diana oleic reports. Its happening in brandywine, maryland at mid trick builders and across the nation. The average size of a newly built home is shrinki for First Time Since the end of the recession. It depends on the market, but in o driving the deals and these builders are adjusting their product to meet e buyers say mortgages are coming back to the home buying market and that means more demand for smaller homes. During the before the great recessio we were probably av4200 square feet a house, now, were 28 to 3100 square feet, so theyve shrunk quite a bit. Of birlds were catering part still are. Beca luxury homebuilder Toll Brothers reported a stellar l weve had great demand nationwide. Every region for us was up. But other builders are pulling focus back to more affordable andhomes. Thats why the average size of a home built from april to js. And even if most luxury buyers still like bigger home, luxury builders do see market for smaller homes in one subset. The active adu and more boomers ho dont need all the square footage. As for the youngest home buyers from micro apartments to tiny home, as long as the place is tricked out with all the top techy amenity, bigger isnt always better. That strong housing report sent shares of homebuilders higher by such as 8 . And to read more about new homes sales an the trends of smaller house, head to our website. On wall street, stocks closed higher today. During the trading day, the s p 500 came within a point. The nasdaq surpassed its record, but then pulled backs industri average gained to 185. 47. Nasdaq added 15. S p 500 was up four and oil 1. Reports that iran may support opec action to curb production to support pricing. Its the sm doll drum on d has investors stock market has gone qut in recent weeks, the quietest its been in nearly 20 can we expect this to continue . Scott rend from wells fargo joins us. Ni you. Thank you. I guess the question is is how good is this market . Do you expect the trend were seeing now to continue or as we get closer to the fall, are you looka bit of a pullback . I thinkaugust, its usually quiet in august. A lot of people are comparing this to g august, which was pretty traumatic, at least towards the enof the month, so i think were going to see low range trading at least into Janet Yellens speech. Weve come a long way. Gone straight up since the post brexit vote i would think seasonally, youre coming into the election. You have an italian referendum, all sort of things going on and it would only be natural that we would see a pullback september, october period, but i dont think its going to be severe. The level that were watching on the down is 2050. Thats pretty good technical support. 27 from here. 5 , you could, that could happen g to see a big pullbacks quiet, what we mean is that volatility is down. Its really down at two year lows. Had a volatility gone away . Good bid to it most of the time and it drops like a rock on any of these rallies, which ob, they rallied back frit now, were really on fed watch this month really for the last two or three weeks and you know, people are wondering whats going to happen with the fed. Weve seen, we know theres a lot of dissension. Theres been numerous governors, some saying you know, Interest Rates arent going up until 2018. Others saying hey, we could raise this year. Due arkets looking on friday and i think after that, you know, if she is hawkish in any way, you know, the market might str to see is the feds say hey, were going to have hikes here over the. Thanks. Today. T buy was the shares rose more than 19 . Its best day in years. Investors were encouraged fwi strong quarter, which topped earnings ek peck expectations and best buy is growing sales online. Best buy maybe the last big Consumer Electronics retailer sanding and its standing strong. While data from the u. S. Commerce department shows a 4 decline in sales at Consumer Electronics stores quarter, best buys division performed the opposite. The category makes up a third of best buys total sales. Online sales grew by nearly a quarter. Leading many to wonderf if best oncoexis bh growing market share. Zpl i think the old saying that best buy is losing share the amazon is just outdated. Theyre at least maintaining or gaind our broader concern is on the products. T phone sales, hurtly back of new product, but sales are now quote, less bad, but if consumers continued investments in home theatre and new appliances are really make iing washing machines grew 8 in the quarter, marking the retailers 23rd consecutive quarter of growth. 4k tvs have been another important sales drivers, but as prices begin to fall, some think discount retailers could become a bigger destination for the products than bests 115 differe models. If you get below 1 1,000 in k, walmart becomes more relevant. When you look at the results for q2, you have to credit best buy. They look like theyre to take share in tvs. Big difference. This company has proven they can still remain relevant in televisions in selli 4k tvs as a complete pack nlg with a home theatre system and presenting that in a shop and shop way where the consumer can have a lot of experience, discussions with people whon what theyre talking about about how they it a stronger edge in their than price wars, which is what were going to see president obama today visited areas hard hit by the unprecedented flooding in louisiana. The regn is struggling to clean up and while there, the president underscored the fede to give you a sense of the m applied for federal assistance so far. As of today, federal support has reached 127 million. Thats for help like temporary rental a ho repairs and Flood Insurance payments. As we reported yesterday, many homes damaged by the Manufacturing Activity in the central Atlantic Region declined in august according to the richmond activity. There was a sharp decline in new orders. As weve been reporting, the Manufacturing Sector has been hit hard by weak growth overseas. And it is that weak growth that is hurting the shipping around the world with vital cogs in the Global Economy and as Morgan Brennan reports, this year, the industry is coming an intense amount of pressure. This is shippings busy period as retailers and other consumer focused Industries Stock up on goods for the holidays. Peak season means volumes should be surging, but so far, things are off to a quote un it after t the port of long contarian volumes droppeded nearly 8 last month. The second largest is blaming market uncertainty and high inventory levels, an issue thats plagued the transportation and retail sectors all year. The National Retail federation expects american ports to handle the same number of ports in august as last year, with growth potentially picking up in the fall. I think well see an uptick. Youll see some growth, its not going to be a Significant Growth like weve seen in prior years. Growth is good, so again, i think to see for the year, just under 2 in july. Still waiting to see what the rest of the holiday is going to shake out in the forecast. Were still predicting numbers to increase over the next couple of months. Many expect the season to be muted and some companies are bracing to that possibility as well. Expert internatl noted that the amou cargo can be moved may shrink in september. The firm said it doesnt recall seeing a pullb the recession. It all speaks to a mismaf in the market. Too many shifts coupled with too little demand. The vessels have gotten bigger while Global Growth has remained stagnant. That has sent shipping rate to unsustainable levels and fueled a wave of consolidation, making the peek season more crucial for but with 98 of the worlds manufactured goods from clothes containership essentially soft season is short to be watched closely. Economic health. Nor nightly business report, im Morgan Brennan. Still ahead as the price of life saving epipens skyrocket, many want to know why there is two auto parts suppliers are teaming up to develop a system for selfdriving vehicles. They say their systems will be available to automakers in 2019. A year or so before most others. Localized supplies systems that delphi provides automotive testimonies. A new report bringing troubling news about how deadly amds have become. Fatalities are up almost 10 h highways in a decade. To blame, booming econom cheap gas, Young Drivers refusing to put down their phones. American roads are becoming more dangerous. In fact, the National Safety council says traffic fatalities in the u. S. For the first half of the year spiked 9 . And theyre up almost 20 compared to two years ago. We cannot keep accessing these highway fatalities. It would be the equivalent of a major plane crash occurring every week. Actually, two occurring every week. And our hair would be on fire. We wouldnt accept that. Why do we accept it on highways . Whats going on . While the improouing economy makes more people to work, also. Ith gas selling for just over and then there is this disturbing fact. Distracted driving is getting worse. Especially s council admit theyre willing to text and drive. And almost half of them say they use social media sites or video chot behind the weal. Even though we have 45 states banned from texting in place, were seeing the use of these devices go up in spite of all of the education and in fact, people say they know that they while many krooifr driver and tech firearms offer systems to disable cell phones in the car, its clear many drivers would rather stay connected behind the wheel and run the risk of a deadly upcoming several years. In fact, the national highway Safety Council says this Labor Day Weekend could be the deadliest on u. S. Ro for nightly business report,eb. Pet food sales hurt rurlts. A drop in sales in brand caused the maker of folgers coffee to pose worst than expected revenue. It expects the weakness the shares to continue. They fell 8 to the news. Weak foot traffic dragged down results at kirklands. The home decor and furniture retailer missing str esti overall revenue did rise i should say, but not at the clip analysts were hoping for. The company gave full year expectatio. That sent shares plumeting to 12 clnt 03. They may soon mug wii ced talks wit sags. While a wit the two weeks. Shares were higher to 107. 10. Lazy boy missed profit and sales exatiopectnexpectations. Weaker demand for furniture at results. Foot traffic remained challenges. Shares punished in afterhours trading. The st the food and Drug Administration has accepted for an Ovarian Cancer drug and granted the new treatment and is expected to give an approval decision by early next year. Shares up to 27 at 23. 03. Night, we told you that the price of epipens have risen over the past few years and that some member ofs of congress are calling for an investigation. Tonight, we take a closer look at t its a life saving drug. And its price has increased by more t in the past decade. The epipen used in emergency allergy attack lawmakers. Its price gaunlging. No other term for it. Its morally bankrupt. Investors in the maker, drug company mylan, are growing concerned about the increasing focus, putting pressure on mylans stocks. Epipen accounted for more than 20 of m aess profits last year and grew a billion dollars in revenue. 600, 700 and thats an open invitation to succeeded, though many have tried. First, there was a french drug maker made available in january of 2013 in the u. S. It looked different from the marker like epipen and features voice guided instructions for users, but a blich last year led to some products dispensing the wrong amount of drug. San ta faye discontinued. Then, there was attempted aiming to develop a product so similar, it could be swammed in by pharmacists, but it was shot town pi the fda this year w citing t similar. Oficienci its made by impacts laboratory, but according to the int supply. Timothy chang still raised mylan buy, saying its is in generic drugs. Theyve been known as a manufactur with a clean track encord with t milan has said a changing Health Care Insurance landscape presented new challenges and says it has pat assistance programs that offer stance to help. But the pricing controversy which isnt limited to the espe shows now signs of fading. Coming up, Finders Keepers . Not if californias largest casino and you might not believe what some pe graduate students who work as teaching assistants at private universities are employees of the school, not just students. Its a landm decision and it clears the way for them to join or form unions. Some universities had warned na a decision in favor of students could inject collective bargaining into graduate program, therefore undermining have u you glasses in a restaurant . Keys at the gym . Your phone in a a st but youll probably never guess what gets left behind at californias largest casino. Jane wells is in te plme. So, here we have our items from the casino side. People have a lot of fun when they go to a casino and tend to forget thi things youre not sure what they are. Td in. T of things. We get walkers. We get dentures. Ive had the 9,000 ring. Its not unusual to have four or five bikes at a time in here. Fishing poles. You can think it, we get it. Think weird. I was going through a backpack that someone had left. And i actually found the remains of his mother. So many things get left behind, that one kai asy know is expanding its lost and found. Right now, theyre in a room to move to a room double that size. Its a massive property, the largest casino in california, native american owned with a gaming floor larger than many in ey 100 capacity, so theyre investing 285 million to expand, which will mean a lot more hotel rooms where maids will find a lot more stuff. Looks like a bag of peaches. Last year, over 20,000 items were lost and found. Including cash. Someone once lbehind a drone in a room. Forgot his prosthetic leg. Most items are eventually returned. Those not claimed are donated to charity. Well, not everything is donated. Any alcohol, we have to dump. Four peopl with the largest resort, meaning more n the sim lest of items like a hand crow shayed water bottle holder. It was very special because her niece had made it for her and she has passed on. So she was so happy to get it. Thats rewarding. Jane wells, temecula, california. That is nightly business for tonight. This is the time of year your n your support. Thank you for your support. Have a great evening, everybody. 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