Fluid. The attacks took place at a paris restaurant outside the stade de france soccer stadium where a francegermany soccer match was taking place and at a theater. There are reports of an ongoing hostage situation at that location. This is the second time this year that paris has been hit by terror and tonights events mark a new dangerous chapter in the war against terror. It is a chapter with major destabilizing potential for economies and markets. And those markets are already reacting around the globe. Joining us now to discuss tonights attacks in paris is john canali. Hes an investment strategist and economist for lpl financial. John, welcome. Good to have you with us. Good to be here. Theres more that we dont know than we do know at this hour. And these events are developing. But the one thing we can certainly say is that this is a new and dangerous turn in the war on terror, one that with really influence economies and markets not just next week, for months and years. Yeah, weve had a difficult week already in financial markets. But of course this the scale of this type of event goes far beyond just financial markets. And what markets want to see is certainty. And certainly this kind of event really introduces a lot of uncertainty, and markets are going to be asking is this just the first of many of these attacks or are they going to spread to other cities . And of course markets dont like that uncertainty. So i think for now its a wait and see. But if we go through the next days and weeks and months and theres more of these and theyre larger, that can really have a big impact on both markets and economies. This is a lesson yet again and a lesson we have learned at the attacks at Charlie Hebdo earlier this year, in boston and elsewhere. This is a lesson that risk takes many, many different forms. Obviously, there are the more prosaic forms. An earnings miss or whatever. An economic number that can cause the market to go down. But these kinds of things which we live with every day can take markets in violent turns very quickly, cant they, john . They definitely can. History will show you that there can be extremely sharp and swift downward movements in equity markets and all risk assets when these type of events occur. But history will also show you as long as the events are not widespread and impact Economic Data or Economic Activity offer over a wide area, over a long period of time, markets can and do recover. So right now we just dont know about to say whether or not this is just isolated to paris or its europeanwide or its global. Once markets can wrap their heads around that, then i think we can see this is just a one or twoday event or its a three or fourweek event. One certainly remembers boston and the response to that, the bombing a couple of years ago. Earlier this year the Charlie Hebdo attacks that left i believe it was 17 dead in paris. And markets certainly have to digest this kind of information. Take us through some of the history of how markets react when Something Like this happens. It generally means that people move away from riskier assets and into more secure assets. Isnt that true, john . Thats true over the very short term. If this were to have happened during the trading day, what you would have seen was a swift move away from risk assets like equities and within equities to safer havens like utilities and telecom and then certainly overall a move from stocks into bonds. So thats typically what you see during these type of events. As events unfold and more news comes in suggesting that the attack is a more localized thing, that can reverse. But in this case that might take a couple days or weeks or months town fold. Typically thats the pattern but we just dont know enough sitting here friday night to understand whats thats exactly the point on which to close. There is much more that we dont know than we do at this hour. John canali with lpl financial. Thank you very much. Thank you. As john mentioned, stocks did close out a very rough week and they ended it on the down side. That of course before tonights tragic events in paris. Concerns over the economy, the health of the consumer and a slide in Oil Prices Sets nasdaq 77. And the s p 500 was down 22. For the week all of the major indexes fell more than 3 as you see right there with the nasdaq off 4 1 4 . The blue chip dow lost more than 660 points in the past five trading sessions. Well, oil. Thats another one to watch. It is melting down again. Domestic crude settled near 40 a barrel near 40 this week. Its biggest weekly loss in more than eight months. Jackie deangelis tells us why oil is sliding. Why its impacting the market and what it could mean for your budget. Reporter the International Energy agency today declared a world oil glut. A record 3 billion barrels in storage and demand for all that crude will tick down this year. Earlier this week the agency said we wont see 80 oil till 2020. Opec adding to the chatter, saying its outlook is essentially unchanged, were only three weeks away from the next big meeting in vienna. Further pressure coming from a stronger dollar. Supported by the possibility of a fed rate hike in december and a weak euro. The perfect storm to send prices under 40 quickly. The technicals after an early november spike have really just kind of plummeted. Iea says their inventories were close to 3 billion barrels and here in the u. S. When they include the sbr they jumped back over 2 billion barrels this week. Theres a lot of supply out there. While lower crude prices take a toll on the equity markets because the big producers are weighted heavily on the averages, its actually very good for consumers. The National Average for a gallon of regular gas, 2. 19, down 25 from this time last year. According to aaa. 2 is still in sight by the end of the year. Low crude prices also take Heating Oil Prices down. 40 since this time last year. But traders caution there is some support in the market. In the high 30s. And there are always unforeseen events that could turn this trend around. Youre looking at the 37. 75 low at the end of august. On that one meltdown day when just everything was coming unglued. Thats certainly your next technical stop and the next point that i think a lot of people will be looking at from a chart perspective. Reporter so absent any catalyst, crude oil prices will have a rough time rebounding as some thought they would this year. For nightly Business Report im jackie deangelis. Lets turn now to john kill dorf to talk more about the oil market. Hes a good friend of nightly Business Report. John, always good to see you. My pleasure. I wish it took place on a night unlike tonight where there are still ongoing developments over in paris. When events like this one, multiple attacks in paris, multiple locations with at least three dozen dead now. How do these kind kinds of events play out in the oil markets in the ensuing days and weeks historically . Well, you have to look at it depends on the region where the trouble is, tyler. So in this one it should be a depressing factor for oil prices because the response by the governments around the world will likely be one where security is greatly increased, where people may hunker down. So Economic Activity in the west arguably will slow down as people sort out is there more danger ahead, to i need to shelter in place to a degree, and not go out, not spend money so the chilling event that often accompanies these types of events. People go to their home and they dont go out as much. Maybe they dont spend as much. Lower economic they dont drive as much they dont travel they dont travel as much. All other things being equal, that would slow the demand for oil. Thats correct. And thats because western targets are being hit. Now, the counter to that, or what ensues later, tyler, is what is the response going to be in the region . If this does end up being linked to either al qaeda in the Arabian Peninsula like weve seen before or it is an isislinked attack, if the response is to go into the region in a much heavier way, into iraq, into turkey, if oil assets are going to come into play, into harms way, then obviously that would be a security premium, inflation factor for oil prices and they would go on a rip higher. Is there a Strategic Asset you follow a lot of asset categories. Is there a Strategic Asset that is more prone to being affected by terror or geopolitical risk than oil . No. I would say absolutely not. Obviously, the International Equity markets will have to sort this out for the factors we just talked about. But oil can come into the crosshairs. And ive been worried about not worried but i guess worried that the bombing of the russian airplane will get linked to isis and that their response will be very robust again in the region and you have again potentially the kind of war situations we get in that in response to these things. And that oil becomes in the crosshairs as isis gets more and more desperate. Lets talk very quickly about what happened this week in the oil markets. It was a major selloff, a slide. 8 . Im not saying it came out of nowhere. But it certainly came. Why . Fourletter word. Glut. Finally the realization hit this market, that theres over 2 billion barrels of all kinds of Petroleum Products in the United States and another billion around the world. Weve never had this much oil in products, gasoline, in storage before. And so and theres more coming at us every day. Theres no end to the overproduction. This market is out of balance and it is not coming close to being back in balance. Supply and demand. The demand is still there reasonably speaking but the supply has overwhelming, tyler. John, thank you very much. John kilduff with again capital. The decline in oil is one of the reasons why price increases across the economy have been so muted lately. The Producer Price index, which measures the prices Companies Receive for goods and services at the wholesale level, fell 4 in october. Thats the second straight month of declines. Excluding food and energy, socalled core prices also fell. Well, consumers spent less than expected in october. Retail sales rose. 1 last month. And that follows slow spending over the summer and raises concerns about the upcoming Holiday Shopping season. Consumer spending accounts for more than 2 3 of economic output. But as bob pisani tells us, money is being spent, just not necessarily at the usual places. Reporter new 52week lows everywhere in retailers today, but dont miss the key story. Consumers are buying. Theyre just not buying at Department Stores and some apparel places. You can see this in the october retail sales report. Online sales up over 7 . Auto dealers up almost 7 as well. Furniture sales up 5 and people were drinking and eating up more. Those sales were up over 5 . And sales at Home Improvement centers wrup over 4 . And Department Store sales, just a measly 0. 5 . See, theyre not shopping at Department Stores. And by the way, some customers are buying aariel. Younger consumers are flocking to Fashion Stores like h m, forever 21, zara, and uniqlo but none of them are publicly traded in the United States. For nightly Business Report im bob pisani at the new york stock exchange. And today jcpenney disappointed investors. Despite reporting sales growth that beat expectations. Sales fell sharply for penneys but that was nothing compared with some retailers several of whom expressed coutts doubts about the Holiday Shopping season in recent days. Take nordstrom. Its shares cratered nearly 15 today avenue after it cut its profit and sales forecast, something we told you about last night. Still ahead, how to invest in this uncertain market. Our market monitor has some shares of volkswagen brand cars fell more than 5 in october. Thats the first full month following revelations the automaker cheated on emissions tests. The automakers head of sales said the company is not only feeling the impact of the scandal but also weakness in some markets. Sales in russia fell 26 and dropped 50 in brazil. Well, the fight over Fantasy Sports is escalating. Fan duel and draft kings, the two Largest Companies in this fastgrowing industry, are filing lawsuits of their own in an effort to keep their operations running in the state of new york. Eric chemi reports from new york, where Fantasy Sports supporters staged a rally today. Reporter Fantasy Sports are fighting back in reallife court. Today daily fantasy leaders fan duel and draft kings filed separate lawsuits against new York Attorney general Eric Schneiderman hoping to keep their games running in the state despite the offices cease and desist order. Meanwhile, fan duel organizers rallied in front of schneidermans office to make sure their voices were heard. I just dont think it should be a priority of schneiderman when there are so many other issues in the city and the state. Reporter theyre fighting over a central question of whether this game is gambling. Fan duel claims its a game of skill. Hundreds of thousands of people love to play every week. Its a harmless pastime that people love. As you can see from the hundreds of people out here. So we dont want it to be shut down. Were going to champion our cause. Reporter but regulators like schneiderman are focused on the fact that this is Sports Betting and gambling law in the state must be respected. Our state constitution is pretty clear. It talks about bookmaking and the lotteries and all other forms of gambling are prohibited unless you have a specific exemption. And there simply is no exemption for daily Online Sports gambling. Both might be right. It can be a game of skill and gambling. And that question may not matter until the courts decide. In the meantime fan duel and draft kings will keep accepting bets from new yorkers forcing the courts to act. One thing to watch for, some payment processors have already announced they will not accept new york payments during this murky legal situation. If paypal bailed too that might mean more damage than any court action. For nightly Business Report im eric chemi in new york. And late today fan duel said it will start the process of limiting access to users in new york state. Comcast ventures and nbc Sports Ventures have stakes in fan duel. Comcast is the parent of cnbc. Which produces this program. Well, a strong dollar overhadove overshadows tycos profit report and that is where we begin tonights market focus. The company saw its revenue fall because of that negative foreign currency impact. The maker of Fire Protection and Security Systems says it still sees pockets of strength globally. Shares slipped more than 3 to 35. 31. Perrigo shareholders rejected mylans hostile 26 billion takeover bid. The failed deal ends a monthslong back and forth between those generic drugmakers. Mylan up 13 today to 48. 78. Perrigo off 6 to 146. 90. Spring leaf holdings, a personal and auto loan company, says it has reached a settlement with the department of justice that will let it go ahead with an acquisition of one main financial. The Justice Department says spring leaf will have to divest more than 120 branches so that it can proceed with the purchase. Shares there up more than 11 on this otherwise down day. They finished at 49. 23. Staples and office depot are transferring offering to transfer 600 million in corporate contracts to a wholesaler. This is according to dow jones. The move is an effort by the firms to persuade the federal trade commission to grant the two companies antitrust approval so they can merge. Shares of office depot rose a fraction to 752. Staples down more than 1 to 12. 61. So what should investors know when it comes to todays uncertain marketplace . Our market monitor guest has some ideas. Erin gibbs joins us. Shes equity chief Investment Officer at s p capital i. Q. Erin, nice to have you here in person. Thank you. I dont know that weve ever sat in person. Ive met you over the television but not here. Lets begin tonight with the unfolding developments in paris. Yes. We dont what we know is much smaller than what we dont know about the origin, who will claim responsibility for this, indeed the death toll. We do know that more than three dozen have perished so far. How does this change your investing thesis, if it does, over the next six months . Well, as you said, its very early, but right now typically these types of very scary types of threats often dont have that much of a longterm impact on the stock market and our investing. It does seem to be very focused. So i dont see any really immediate impact. We can certainly see more volatility in the markets over the next coming weeks just because the fear gauge is a little higher. People might be a little quicker to move out. But from an economic standpoint it really doesnt have a big impact overall. John kilduff, who was just here in our prior segment, said that he sees it a different way. He thinks that in the wake of events like this people tend to do less. They stay home more. They travel less. They may feel a little more protective of their assets and take a more defensive posture. Do you see it that way . I guess not. It tends to flesh out very quickly. For me at least we tend to have fairly shortterm memories. Particularly when its something thats so far off as in paris versus if it was much more localized within the u. S. Like i said, you could see more volatility and you could see people scaling back, but particularly if this tends to be one isolated incident we dont see more incidents going forward, it just all happens tonight, i could certainly see this being flushed out within a couple of weeks. And you see that with wars too. It tends to take a few weeks and people tend to go back to their normal pattern. Lets take a look at quickly three of the stocks that you like right now. These are very consumerfacing companies. Leading with apple, which has had a rough week. It has. And so i recommend it as a really good value, highquality stock. Right now were expecting about 7 Earnings Growth over the next year. So if the price just stays on track of where its Earnings Growth is, you could see that 7 appreciation. On top of the fact that its actually trading at a pretty big discount to where weve been seeing it over the past three years. So between the discount and good decent Earnings Growth, i could see this stock easily going up another 10 to 15 . Quick thought on walt disney. Who doesnt like disney . Who doesnt like disney . Disney is one of these great growth stories. One, again, another highquality longterm type of holding. But one of the things that were really seeing potential growth for is theyve acquired star wars as well as marvels avengers. And its not just the revenues from those films per se but the products relating to the films, the toys, the clothes. We saw a huge the merch. The merchandise. So we saw just an enormous amount of revenue attached to their frozen franchise, and we see the potential, particularly with the star wars, going forward. Erin, we have to leave it there on this very busy night. I should point out that your third pick is foot locker, and you say its not just mens athletic shoes anymore. Thats right. Thank you very much. Appreciate you being with us this evening. Coming up, a critical few weeks lie ahead for possible treatment of a devastating disease. One familys inspiring story when we come back. In the next couple of weeks two drugs that combat a rare and fatal form of muscular dystrophy will come before the food and Drug Administration for review. Meg tirrell reports on what could be a watershed moment for patients, families, and the biotech industry. Reporter its been 13 years since jen mcnearys oldest son, sauchb, was diagnosed with a fatal disease that had no cure. It was a pretty hopeless feeling. I remember thinking one of the first questions was do they need some sort of infusion, do they need some sort of transfusion, do they need some chemotherapy . Trying to theyve pediatric diseases, what do we do. And i was really jealous of all the families at hitchcock that were receiving chemotherapy that day. We had to walk by the chemo clinic. And i remember thinking like that was a really lucky diagnosis of cancer because at least theres something you can do. Reporter austin has duchenne muscular distroughy, a rare genetic condition that causes the muscles to decline over time. Kids usually lose atability to walk by their teens and almost dont live to their 30th birthdays. Austin, now 16, gets around in a power wheelchair. His younger brother max was diagnosed with duchenne as well. At 13 max is still walking, which jen credits to an experimental drug called eteplerson. Max was the first guy in this trial. Hes sort of a little medical mirk sxl he might be the first of this generation to beat the disease. Reporter made by boston Biotech Company cerepta. Initially tested in 12 patients. A similar drug called drisopersin from biomarin has been tested and more. But after promising early results its failed to show improvement in a largescale study. Biomarin later this month and serepta later this next year. After a long road filled with setbacks that threatened to derail both programs. The slow process is the fda wanting to do right by the Patient Advocates and providing a drug that has the promise of a clinical benefit with minimal safety risks. Theyre very much keeping in mind at the same point they are the gatekeepers of drugs, they are not meant to just approve snake oil. So they want to make sure theyre an proving drugs that clearly dont have an effect or have a very high chance of failing in a confirmatory stud xwr xwrip. Reporter the drugs work in a very similar way using a technology called exon skipping. Its a wave circumventing the genetic blip that causes the body not to produce a crucial protein tauld distrophin. And in a disease as severe as duchenne with no effective treatments available you might wonder why theres any doubt these drugs get approved. Brian scorny says it comes down to evidence. In contrast to what were used to seeing in an approved drug, theyre pretty thin numbers p p. Reporter as for jen mcnairys older son austin hes started taking etepleson as well as part of a larger study and jen said she started to see improvements in his abilities but accepts there are still unknowns about the drugs. Were going to have answers inside of ten years, whether its really effective or whether its just sort of effective, whether its effective in only ten kids or whether its effective in the whole population. So the answers will happen. I think the risk is not approving it and having kids decline and finding out five years from now that the drug was as good as we thought it was and kids died while they were waiting for it. Thank you. Reporter for nightly Business Report im meg tirrell. And to recap our top and still developing story, paris came under siege tonight. There were multiple attacks involving gunfire and explosions with dozens reported dead and scores injured. Frances military is being deployed throughout the city, and the french president says the countrys borders will be closed. The equity futures market coming under pressure because of the events, pointing to a potentially volatile day when the markets reopen on monday. And that is a very busy nightly Business Report for tonight. Im tyler mathisen. Thanks for watching. Well see you monday. Sandra. You been waiting long . 30 seconds is too long in this place. Who sent you this . Mate on the flying squad. Nick kellogg, who shot the security guard, is here on remand, awaiting trial. Things are looking up. I doubt it. Im detective superintendent pullman. This is jack halford, ucos. You must be thrilled. Do you know what this is . Pass. Its a ballistics report on the gun you were carrying. Bad news is its the same gun that was used to kill a guy called eddie mayfair in 1999. Never heard of him. Eddie was a boxer, 21. I saw him fight once. He was very good. Until somebody shot him. Hang on, are you trying to dump this on me