Join the fun run. And, boy, has it. Today, the dow scored a small gain, but it was enough for the industrial averages ninth Straight Record close and tenth consece overall gain. Not much left to add to that, so lets get to the numbers. The dow rose 25 points to 22,118. Nasdaq added 32. And the s p tacked on 4. It also closed at a record. While we sit at record levels, theres always concerns that the market is too pricey, but noted investor leon pros havent he doesnt thin gotten too far ahead of themselves. I think the market is fully value on fundamental basis. E eu. Optimism for sure. Look at all the strategists that make a forecast a year out, nobody has a down market which makes you scratch your head and worry. Cooperman also said his firms biggest position is in googles parent, alphabet. Alphabet falls into that category of big name highmomentum stocks. That group has been a major driver of the overall market, but they slowed just a bit in recent weeks. Theyre not alone. Other socalled momentum names have been dragging a bit as well. And that has some market watchers concerned. Bob pisani has more. Reporter august is typically a down month, you know, the s p 500 has dropped an average of 2 this month since 2010 and right on schedule, the august slowdown is sort of emerging right now. So, the issue is whether this will morph into something a little bit bigger. Right now, after an exceptionally strong june, the s p 500 has gotten stuck and is treading water really for the past t weeks. High Momentum Technology shares, though, have slowed down and fallen off the new high list. So f. A. N. G. Stocks, amazon, netflix, alphabet, all lost steam. Semiconductors, another big momentum play, also weakened. Semiconductor etf topped off in juc june, 7 off its strikes. Energy stocks expected to be part of the earnings quarter, this week weve seen apache, oasis, noble energy all down on earnings. Is the loss of no men hum namo mean t no, it doesnt. Other sectors may rotate into leadership positions. Seen financials make modest moves on the upside recently. Thats good news. So much money is in these momentum names that investors got to be very careful. When youre dealing with momentum stocks, a gradual shift in momentum can suddenly lead to a bout of very heavy selling. Bulls were looking for a further breakout after Second Quarter earnings post 12 , thats great, but the overall reaction of the market has been, eh. Bulls arguing the s p saw it going into the earnings season and now because were moving sidew sideways, that typical, healthy. Well see if that sustains itself. For nightly Business Report at stock exchange. Another momentum name is amazon. Some retail brands are striking back at amazons tight grip on retail sales. According to the wall street journal a growing number of companies are pushing back against amazon and standing up for the small retailer. Ruth simon wrote about it for the wall street journal and joins us. Ruth, welcome. Nice to be here with you. Why are they doing this, to protect the brand, itself, or other reasons . There are a couple different reasons, one is you dont want to be too dependent on just one can customer, and thats always the case. And then some brands worry at everything on amazon is about price and that the price cutting will diminish the value of their brand. And finally, a lot of these brands, they really depend on the local store to introduce customers to gnu products or for service. Youre going on a hiking trip, what jacket do you want . What running shoe is best for the kind of mileage you do . Or what if your bicycle breaks . Uhhuh. Ruth, its good to see you. Were all friends from magaziel we sure are. What arthdoing, wh are big brands like rayban or shoe makers doing to help the little guy and fight back . We identified a number of strategies. One of them is to set minimum advertised prices. Now, the brands cant set the sales price, but they can say, you cant advertise below a certain level. Now, in the case of luxotica which is the folks behind rayban, what they did is set a minimum advertised price and their average discount on amazon went from about 37 to just 3 . And thats in important for local retailers who cant match the discounting on amazon. You know, does it indicatema changing . I hesi to use the word lessening because it seems like theyre going into everything. This is the first time ive really seen or heard of major brands pushing back against a retail giant the size of amazon. Well, its a dilemma for the local for the big brands. Some of them do continue to sell on amazon or they sell through third parties on amazon. And many of them cant ignore amazon. I did talk to one brand, sims fishing, which doesnt want to have any business with amazon a. But cant they then sell to third parties who might sell on amazon or . Well, sims, for example, really tries to restrict who sells their products and theyll cut off folks who sell on amazon. You still find in their case i saw some of their older products on the site, but they do control who theyre selling to then they set terms for those resales. This must be somewhat of a boon for the local retailer. It gives them a lot more power, does it not . I thcink its helpful for th local retailers. Theyre looking for an edge, some way to compete. The other thing for the brand, the local retailers will give them feedback, this isnt selling well, change your packa packaging, make it different. The br your trying to give consumers reasons to go into those local thank you, ruth. A pleasure to have you with us tonight. Pleasure to be with you. Well leave it there. Ruth simon with the wall street journal. Zblchbl consumer borrowing rose by nearly 12. 5 billion in june albeit at a slower pace, due to the drop in nonrevolving credit which involves auto and student loans. The categorys 8 billion gain was its smallest in a year. Separately, americans put 4 billion on their credit cards. Fridays jobs report was better than wall street expected but with the strength, the labor market has been showing, should these results be considered the norm . Steve liesman wonders whether its time f economists to start rethinking how they make their jobs estimates. Reporter job growth keeps coming in better than expected raising the question about whether its time to change what is expected. Last weeks report of 209,000 jobs created in july which surprised markets should have been anything but a surprise. Five of the last seven reports have been over 200,000, and 13 of the past 24. And wall street keeps missing these strong reports. Underestimating them every time they spike north of 200,000. Heres the reason. These numbers are double what most economists think is the steady state for job growth in the u. S. Goldman sachs has seen the light. Its economists wrote over the weekend, we have made a sizable downward revision to our forecast for the Unemployment Rate by the end of 2018 to 3. 8 from 4. 1 previously. The good news is, it appears that Many Americans who were sidelined in the wake of the recession have come back do work the past several years. The bad news, if Unemployment Rate goes too low, it could spark Wage Inflation and thereby price inflation. But one fed official monday said he was not concerned. I think were in a low inflation era and its actually why were in the slow inflation era is eluding a lot of economists and leading us to rethink our theories. A simple theory that just says when unemployment goes down, inflation goes up, isnt working very well, and the empirical evidence is drying up for that theory so i think we need to think more carefully about whats going on. Not just in the u. S. , but globally. Reporter so far, wage growth has confounded economists and not risen as the job market has tightened. Thats a big reason why others are not worried about inflation, thee at least not now. Seems if job growth kes surprising to the upside. For nightly bus Oil Prices Fell today as concerns grew that opec nations might not all be living up to their agreements to limit production. Domestic crude continued to stay below 50 a barrel, as you see there. And as Jackie Deangelis tells us, opecs fractiousness is one of several Reasons Oil Prices could head lower from here. Reporter several factors keeping oil prices under 50 a barrel at the moment. The first is jet another meeting of opec and nonopec producers in abu dhabi this week. The expectation is more conversations will be had regarding compliance with the groups production cut, and theres some speculation that revisions could be presented, though theres been nothing other than chatter just yet. Also, one of opecs most hurt producers, thats libya, seems to be making some strides in coming back online. One of its Largest Oil Fields seeing a rebound in production triggering a little bit of a selloff in oil. Meantime, the traditional summer driving boost came a little bit late this season and in just a few weeks, support for oil prices from this factor will dissipate. Every september, crude prices drop when people drive less and demand resumes in normal pace. All of this happening as the u. S. Is producing more oil as well. Currently, a little more than 9. 4 Million Barrels a day, thats up sharply from 8. 4 Million Barrels last summer. The expectation, crude prices can maintain the status quo for now but come the fall will be time for a dip. For nightly Business Report, im jackie deangel coming up, new york city wants to tax the wealthy to help fix its subway system. Do these plans work for cities or do they backfire . Over the weekend, the United NationsSecurity Council imposed new sanctions on north korea over that countrys continued missile tests. The sanctions target north koreas banks and primary exports, among other things. And today the rogue nation threatened retaliation delega threatening to m, quote, pay the price. John harwood joins us now. John, last week you told us about the growing economic implications of this crisis. Does this make those implications even a little more close to home . Reporter , certainly the threats from north korea this afternoon at least raise the f some sort ofconfrontation. I dont think north korea would hit the United States unilateral un i think the United States would like tr military at all cost it they can avoid it. Now, on the other hand, one risk was probably diminished by the sanctions issued by the United Nations and that is the risk that the United States was going to try to pressure chi in ways with respect to trade that would cause china do retaliate. China went along with this resolution, so that was a step forward for the u. S. And china working in cooperatively on this proble the challenge is nobody knows what will actually make north korea stop its nuclear program. Nothings worked for a lot of years. But i was impressed, though, john, that china did go along with the vote. It seems to me that thats a significant advance in u. S. china relations, as it pertains to north korea, specifically. Obviously, there are still other issues but weve been trying to get china to help us on that front and usually they donty d. Sue, youre exactly right and russia also went along with us. So, theres no question, this was a victory for the trump administration. This is something that is a set of sanctions thats drawing widespread approval across the political spectrum. Whether they will work or not is another matter. North koreans seem to believe a Nuclear Missile program is something that will make it a big player on the world stage. Theyre not so much looking for an economic payoff and theyve shown the willingness to absorb a lot of pain or transfer that pain to their citizens and certainly these sancti diminishing their export income by a third is going to inflict that pain. John, thank you very much. John harwood in washington tonight. Aerospace and defense contractor United Technologies is reportedly interested in buying its rival, Rockwell Collins. The price tag is estimated to be north of 20 billion. That sent shares of Rockwell Collins rocketing higher by about 7 , but as phil lebeau tells us, getting a deal done may be tough in this environment. Reporter after a fiveyear run with impressive growth and profits, Rockwell Collins has become one of the most lucrative and attractive aerospace and defense, aircraft interiors, to avionics in the cockpit, hightech helmets used by f35 pilots. All of which has drawn the interests of United Technologies which has its own impressive list of aeropace and Defense Products including Pratt Whitney engines. Neither company will comment on reports of a possible deal, both firms hired bankers to advise them. Owners say the combination is a distinct possibility. The limited overlap in products why a deal between utx and rockwell makes sense. Combined, the companies would be powerful in avionics and aircraft interiors. And they would be in a stronger position to negotiate with airplane manufacturers like boeing which has recently formed its own Avionics Division and is increasingly looking to Grow Business in areas where suppliers have long made hefty profits. The airplane makers and other competitors like honeywell could argue utx and rockwell would control too much of the Aerospace Supplier industry. So getting Regulatory Approval is a hurdle the two companies would have to overcome. And right now, Rockwell Collins has a high valuation so it will command a rich price. With more people flying worldwide, Rockwell Collins ceo likes where his company is positioned. We feel really confident that the longterm air traffic route is there and the markets are very, very strong. Rep just a couple months ago, Rockwell Collins bought b. E. Aerospace, leading supplier of airplane cabbens. At the time it was considered a sign that the Aerospace Industry is prime for more deals. This time, rockwell could be the company thats being acquired. Phil lebeau, nightly Business Report, chicago. Cbs tops expectations that, where we begin tonights market focus. Reported profits and sales grew as results were helped by an increase in revenue from affiliate subscription fees. Cbs said ad sales were higher. Shares initially rose after the bell and finished the regular day up 1 at 6452. Horizon pharma raised its full year revenue outlook after posting Quarterly Sales it grew and topped estimates. The drug maker cited higher demand for the companys rare disease treatment. Profit also stronger than expected. Shares up 4 to 13. 30. And the hedge fund, Scopia Capital management, disclosed a nearly 17 stake in Acorda Therapeutics and called on the drug developer to consider selling itself. Acorda responded saying a sale would throw a wrench in the companys Business Plan and might significantly devalue the company. Shares were higher nonetheless by 3 to 22. 20. Morgan stanley downgraded its rating on tetha pharmaceuticals from equal weight to underweight saying the drug makers disappointing generic business will take more time to improve. The firm also said it underestimated how much of an impact competition was in that industrial will ha on the companys longterm earnings. Last week you may recall we told you shares of tetha were lower after cut its guidance and dividend. Shares continue to fall today plunging 10 to 18. 59. Tyson foods reported higher sales. Company said there was heightened demand in the u. S. For beef and pork products. The result surpassed analyst expectations. Earnings also beat street targets and prompted the meat producer to lift its forecast for 2017. Shares up were more than 5 . The life insurer brighthouse financial, a spinoff of met lifes retail operations, began trading on the nasdaq today as an independent company. M metlife spun off brighthouse do increase cash dplflow and lower dependence. The companys debut was rather dull with some analysts saying life investors sold off shares does it didnt pay a dividend. Brighthouse shares fell 4 to 61 7b 2. Lower pricing and weaker sales in t caused overall revenue to flat line at the car rental company, avis. Those results along with earnings missed analyst expectations. The companys profit outlook for the rest of the year also disappointed. Shares initially got crushed after the bell but ended the regular day up more than 3 to 33. 39. New york citys mayor bill de blasio wants to impose a millionaires tax on the citys wealthiest. He says the funds will be used to fix the citys aging subway system, but is it a smart move for cities like new york and others to raise taxes on the rich . Tim spiece is cochairman of the tax practice and joins us now to discuss. Tim, welcome. How do you view this . There are lots of ways, obviously, to pay for upgrades to infrastructure. Tax is one. Bonds are another. User fees are a third. What do you think . Well, theres more. First let me just go to the highlights on the plan which, by the way, would have to go through a legislative process. So its roughly onehalf of a percent. So a Single Person at 500,000 would pay an additional 2,500 per anum. A person or household at 1 million would pay 5,000. Item one. Right. Item two, going to be used to fund about 800,000 residents that are below a certain income level and help subsidize their transportation. And the other fact if i can just broaden it out a little bit, because new york city, i think, is such an unusual market. And weve seen in other areas, like seattle, comes to mind, people simply moved out of the city in some cases to avoid the tax. And in other cases, the wealthy people live outside of seattle, anyway. So is it a cityspecific sort of tax, in other words, it might work in some cities, might not work in others . Thats an excellent comment. I would dhichk bathink based up we know it in revenue, take the california example for an instance. When california increased its rate retroactively, by the way, to over 13 , individual income tax rate, the state lost, according to the Internal Revenue service, between 2250,0 and 3,000 residents. Wow. So it does impact and now youre getting into the area of economic stability in a particular state, in our instance case, new york city, yes, you could see people vacating the city. Moving to the suburbs. Outside the burbs. Thats also true. The other element to think about is theres probably when you look at historic funding costs, theres probably at least ten popular ways to raise revenue for these large projects. You mentioned a couple of them. Theres private partnerships. Theres state infrastructure banks. Sales and use tax. Fuel taxes. Vehicle registration fees. Bonds was mentioned. Tolls. And environmental environmental fees as well. So, it doesnt have to be done just with an income tax increase. Especially on a targeted population. The most successful fundings are those that are broad. Many revenue streams. So thats there no real impact to a detriment situation on any single constituent. What about sponsoring the d train, in other words, the eisner d train, how about that . Were thinking about it, actually. Maybe the e train. Thats right. Get the e and the as, well do a packaged deal. Thanks. Appreciate it. Thanks very much. Coming up, marriott looks to tap into the growing market for chinese travelers. Well tell you how coming up. Heres a look at what to watch tomorrow. The dow component, disney, reports its quarterlies. Wall street focused mainly on how the companys espn division is performing. And its a big week for retail earnings. Things get under way tomorrow with results from michael kors and ralph lauren. We get one of fed chair Janet Yellens favorite economic indicators. The jolts report. Which shows the number of monthly job openings. And that is what to watch for tuesday. And finally tonight, after the bell, marriotts earnings and revenue topped wall street targets. The company also made news before the bell. Marriott is looking to grab a piece of the chinese travel market. The worlds Biggest Hotel chain is teaming up with alibaba. The deal will allow chinese travelers to book rooms at Marriott Hotels using alibabas travel platform. Reporter as the chinese travel market booms, companies are looking to cash in. Marriotts international and alibaba ra teaming up to make it easier for chinese consumers to book, pay and manage travel at home and abr at stake is a market thats expected to be worth more than 100 billion this year in digital sales, alone. Marriott will get the chance to build brand loyalty and exposure as more chinese travel abroad and as it localizes more Services Like mandarinspeaking concierges and chineselanguage tv channels. Marriott already has partnerships with alibabas travel rivals such as ctrip, but stephanie linard, companys chief commercial officer, says alibaba represents a huge opportunity. To tap in to the 500 millionplus active monthly users on the alibaba site, signing people up for our loyalty program, getting a disproportionate share of chinese traffic, to our own website is significant. Reporter alibaba is a late entrant to the Online Travel market, establishing alitrip in 2014. But the internet giant has half a billion mobile monthly active users who already use alibabas platforms to buy merchandise or stream video. With this new partnership, users will also have easier access to marriott international. More than 6,200 Hotel Properties worldwide. For nightly Business Report, san fr lets do a quick recap on where the market ended the day. And it was yet another record for the dow industrials. Ive lost track of how many in a row it is. At 22,118. The industrials up 25 points. Nasdaq up 32 at 6383. The s p 500, it notched a record, too, up 4 points at 248091. Thats your update. They say august is supposed to be a difficult month. So far so good. That will do it for nightly business repm tyler mathisen. Thanks for watching. Im sue herera. Have a great evening. Well see you right back here. This is a bbc is america. Funding of this presentation is made possible by. The freemen foundation. And coal Fuller Foundation pursuing solutions for americas neglected me. Planning a vacation escape thats relaxing inviting. And exciting. Is a lot easier than you think. You can find it here in aruba. Families couples and friends can all find their escape on the ian