Since november. The catalyst, some pin the it on investors taking a more optimistic view yesterdays moves by the European Central bank to cut rates and expand its stimulus program. Others by contrast say it was a report that helped lift oil to its highest price since december. More on that in a moment. Whichever one you choose it was a good day for stocks. The dow roles 218 points to 17,213. The nasdaq gained 86. The s p 500 rose a big 32. As for the week, the dow and s p added roughly 1 , the nasdaq a little less than that. Oil got that lift today following a report by the International Energy agency which said that prices may have hit a bottom. As a result, domestic crude finished up nearly 2 to 38. 50 a barrel, the highest level since december, a 7 gain for the week. Jackie deangelis tells us what the iea sees. The milliondollar for question for oil, have prices bottomed . The International Energy agency said today its possible. The report citing reduced output in the United States and from other nonopec producers as one reason supply and demand should begin to come back in line. It also said iranian output hasnt been as dramatic as believed before. In fact, here in the United States, the agency expects production will decline this year by more than 500,000 Barrels Per Day. It said opec pumps 90,000 less Barrels Per Day last month. All positive signs that will support oil prices. But its not just the iea report influencing prices, its also seasonality. Usually around memorial day is where we have our climax here to see if the market really is a strong usage market. Again, i cant foresee it yet. I think its going to be a big driving season. And i do see the prices holding firm. 40 is a key psychological level for oil prices. Were edging closer and closer. But does this rally have legs to break through and hold . Crude oil, i would think were talking about 36 to 42 nearterm. I think with a very strong driving season we could work our way probably to the high 40s. Last year we saw similar bounce in oil prices in early spring but in late june prices dropped dramatically again. The concern right now is the recent rise in price might actually encourage more production. Which would only depress prices once again. I dont think this is a market thats a runaway bull market. Theres a lot of inventory out there, theres going to be a moderate growth year say in the price over the next three to six months which would make perfect sense here. Another risk to the downside, the dollar. Relatively quiet for now, but another move higher could hit commodities. For nightly Business Report, im jackie dean gel lis. When oil prices were booming one of the states that benefits the most was north dakota. It was awash in cash. Now after the fall in oil prices north dakota has become a state of pain with a budget shortfall and a governor looking for cuts to save money. Brian sullivan unless the town emblematic of the highs and lows, williston, north dakota. No town in america may have benefited more from oils boom than williston, north dakota. But now no town in america may be feeling the hit from oils collapse as much either. Those who came here from all over america looking for a job are now going back home. The work just simply isnt there. As overproduction has forced the number of new wells being drilled to dry up. We went out to one of the few remaining oil rigs and spoke with its manager about whats happen together workers. The problem is, you lost the crews that you trained up, those guys are gone. Thats the problem with the down cycle is you lose all your talented people, now youve got to retool, respool, retrain. During the peak of the oil boom tens of thousands of workers came to north dakota. Most of them lived in what they call a man camp. The nice word is hotel. Basically 1,000plus workers all living in dormitorystyle arrangements with a big master hall. This was pretty much considered the cream of the crop, the best ones, the capital lodge. At its peak, 1,200 workers, three hots and a cot every day. This was the main hangout. Tv, blackjack, workout rooms. Now it sits empty as oil slump has caused the workers to go back home. By the way, this 40 million facility is now for sale. It can be yours. Its not just the Oil Industry Jobs that are being lost either. All the businesses that grew to support the oncebooming industry are also taking a hit. Hotels and restaurants in particular. How severe has the downturn been for you and the town . For us, our business from top line revenue standpoint is down 50 . It varies week to week. But every week it keeps getting worse. We dont know where the bottom is. Williston may be located hard up against the banks of the Missouri River but it is oil that really flows through this town. Nearly everyone we spoke with here said that if the price of crude doesnt move back to 50 or 60 a barrel sometime soon, the economic miracle that was the black gold rush may turn into a bust. For nightly Business Report in williston, north dakota, im Brian Sullivan. Despite the rally in oil prices, our next guest says he doesnt believe the oil market has reached a bottom. Joining us is john kildus, Founding Partner of again capit capital, making the case why he thinks we could test that 18 mark which you predict the on our show. I slipped and i said gold because it has been feels that way. Likened to the gold rush, right if. Absolutely that story that Brian Sullivan reported, 100 . Classic american boom bust story. Why d do you think that 18 y be in the cards . You dont feel the bottom in this market yet . No, because really, nothing has changed materially in terms of supplies. For all the talk of opec getting together with russia theres strident discord amongst those participants. There was supposed to be a meeting on march 20th, i dont think thats going to come together at this point. And when that deal, this freeze deal theyve towelled out there, falls apart, i think that the markets going to punish them for all this rhetoric. Weve seen oil go pant, now up about 40 from lows a month or so ago. How much of that, if any of it, is fundamental . That has changed. I think a lot of its short cover. Its been a big Short Covering rally. Also too, a lot of bargain hunters came into this market and have bought it up. Weve seen a lot of speculators come in from the long side of the market. Not just Short Covering but the market can, forgive me, sue. The market can defy fundamentals but only for so long. Thats right. But for a while. And can really put some pain on you. Thats if thats all youre banking on. The other thinging iffing in here on this call still is that the Economic Data has not been great. So the demand side of this equation is 30ing as well which is why you saw Massive Action from the European Central bank. Slowdowns in asia and europe and no end in the supply glut equals lower prices not higher. I wondered if it would be external shock that would take the market back down to your target. Sounds like its what we already know thats out there. A weak global economy, our fed on a raising trajectory and the rest of the world on an easing trajectory. Those are the fundamentals the market will wake up to once again. Thats right. Easing trajectory in response to bad facts on the ground. We had a bad week from china in terms of data this week. Except for their inflation. But the import export numbers were terrible. They were accepting up to the plate to try to do something to spur their economy. The Oil Market Needs that demand from china to stay up around even here and stabilize. Thats what were focusing on. Youre highly skeptical there will be any sort of production cap . I dont believe it for a second. The saudis are intent let alone a cut. Let alone a cut no. Because the deal breakers going to be from iran. Iran said today they will not agree to a freeze until they get their market share back and thats the rub. Thats how the saudises of set this up to say, sure, well cooperate with everyone, as long as everyone agrees to a freeze well agree to a freeze. Not everyones going to agree to a freeze, we know that for a fact. Such an interesting story. John, thank you very much, a great weekend. You too. Now to a story that hits very close to home for many who commute to work. New Jersey Transit, the third busiest Commuter Rail line in the country, on the verge of striking for the first time in more than three decades. A disruption would hit more than 100,000 commuters who work in new york city and tlbt. At stake, unions want a doubledigit wage increase and lower outofpocket health care contributions. The agency that governs nj transit argues that would cost an additional 183 million annually. That would mean fare increases. As Morgan Brennan tells us, while the argument may be local, it has much bigger implications. Reporter more than 4,000 new Jersey Transition rail workers could walk off the job as soon as sunday morning. If a labor dispute isnt resolve the. Affecting travel and americas biggest metro area. New Jersey Transit has contingency plans in place but they cover less than 40 of the stateoperated carriers big apple commuters. Officials warn an additional 10,000 vehicles could hit the road at peak hours, creating bottlenecks stretching up to 25 miles long. Business Advocacy Group partnership for new york estimates a strike could cost new york city businesses nearly 6 million per hour in lost productivity. Particularly in the finance sector, wall street. Major employers are planning for the worst. Citigroup for one has said it will modify employee hours, encourage telecommuting if necessary. And a strike could also affect freight railroads that use new Jersey Transits track causing diversions or service interruptions. Norfolk southern isnt commenting and csx says it doesnt anticipate significant operational impacts but is monitoring the operation. It all speaks to a larger issue affecting new jersey as well as other states and local governments. A shortfall in transportation funding. Many are struggling to fix budget deficits, raising give sult decision including labor costs. In new jersey, talks continue as both sides scramble to reach a deal. But there is one person notably absent, governor chris christie, who after dropping out of the gop race for president has been on vacation, though reportedly keeping tabs on the situation. For nightly Business Report, im Morgan Brennan. Coming up this weeks market monitor thinks the market will turn in gains bit end of the year and he has three names he thinks will help your portfolio get there too. Last year was a strong one for commercial real estate. But there are cracks forming in that sector. And as diana olick tells us some of the trouble has a familiar ring to it. Reporter 2015 was a banner year for big buildings across the nation. Commercial real estate vacancies were low and rents ran high. Loans for commercial development were also big. But what a difference a few months make. Theres been a really interesting shift in the Capital Markets writ large across not just commercial Real Estate Debt in the Public Markets but highyield debt. Weve seen the beginning of this year the spreads blowing out. Reporter investors demanding bigger yields and commercial loan debt isnt doing it for them anymore. This identicaled cmbs is bonds backed by buildings, the secondlargest form of financing. Ten years ago we also had a commercial real estate boom and a lot of it was bammed by cmbs. Those bonds have a 10year life span and have to be refinanced now. We think some of these are going to be remonetized through sales, through asset sales. But some will certainly hit the foreclosure list and end up on a special servicers list of loans to be worked out. Reporter cbre estimates at least 43 billion in loans could face trouble this year and next. With secondary markets like kansas city, cleveland, minneapolis, jacksonville, and hartford hit hardest. Yes, banks could step in. But theyre getting hit with a lot of new regulations this year that are making them more skittish about real estate. There are other rules coming out on general debt that are going too be affecting appetites from banks for the cmbs market, from others, to provide capital. That could affect availability, it could also affect pricing of some of those loans. Reporter on top of that, commercial real estate prices fell in january for the first time in seven years, according to moodys. That is not going to make investors feel any better about the sector. For nightly Business Report, im diana olick in washington. General motors gets serious about the selfdriving car market and thats where we begin tonights market focus. The carmaker bought cruise automation, focused on creating those driverless cars. General motors did not disclose how much it paid for the startup but the transaction reportedly worth more than 1 billion. Shares of gm up about 1. 5 today to 31. 26. Liggon pharmaceuticals got a bump after roth capital increased its price target to 147 a share on the drugmaker. Earlier this week the companys ceo sold over 10,000 shares of company stock. Those shares were up nearly 5 to 101. 83. According to a latestage trial rejen ron pharmaceuticals experimental arthritis drug has proven to be more effective in treating symptoms of the disease than rival medication. Nevertheless, shares fell fractionally today to 377. 12. Investors had their chance to react to bojangles earnings which came out after the bell yesterday and boy did they react. The fast food chains profit fell as poor weather drew in fewer customers. The Company Still managed to top street estimates on earnings and revenue targets. Those shares soared more than 23. 5 to 18. 57. The Peoples Council for the District Of Columbia has weighed in and said that she opposes the latest merger proposal between Energy CompaniesPepco Holdings and excelon citing unguaranteed rate protection as the decision. District regulators have rejected the merger twice and d. C. Is the only area in the midatlantic not to approve the deal. Shares of pepco fell to 92. 27. Excelon unchanged at 34. 73. Our makt monitor is expecting one of his stock picks to rise nearly 50 over the next year. This is his first time joining us on the problem, michael binger, senior Portfolio Manager with gradient investments. Michael, welcome, good to have you with us. If all of your stocks go up 50 over the next year you can come back, how about that . Thats a deal. Thank you very much, life would be easy then. It would be very easy and ill send you all my money. What do you see for the market between now and year end . Its come back very nicely in the past few weeks. My sense is that now weve got to see some profits. Well, we do. Lets think about it. So earlier in the year when oil was face it crashing, interest rapts were going back down towards 1. 5 , people were interpreting that as were going into recession. But the Economic Data didnt support that. The Economic Data was pretty good. Especially the Consumer Spending and Consumer Sentiment data. So it looks like the recession is off the table. Oil is now come back. Interest rates are moving up a little bit in anticipation of growth. So i see positive returns for the market this year. Like you said, the wild card is earnings. We need to see Earnings Growth and we think the third and fourth quarter, the back half of 16, earnings will grow again. Youve given us three stocks. And there is a general theme, dividends and value. So lets start with your first pick, general motors. And theyve had some good quarters. They have. Theyve had fantastic quarters. And auto sales in the u. S. Are hitting record highs. But theres this pervasive fear in the market that were hitting the top or the peak. I dont think we are. The company says were not. I think sales will continue to be strong in the u. S. And globally. This stock pays a dividend yield right around 5 . Its cheap at five or six types earnings. Think its a steal. Theyve got very stylish cars coming on too. The impala, a couple of the buicks, the cadillac. Lets go to your second pick, Omega Health Care investors. You say its kind of being tar the with a broad brush. Omega is a Health Care Property reap. They buy properties and lease them to health care providers. I think they have a great demographic tail wind. None of us are getting any younger and were going to need more and more health care as we get older. This company executes outstanding, has a 6 plus yield. Theres a competitor of theirs that hasnt had a problem with one of their tenants who omega has no exposure to. 6 yield, a company thats executed flawlessly, fundamentals are great, the stock is cheap, its a buy. The last name i think might be controversial to some. Its twitter. Because there have been those who have forecast twitters demise. But this is the stock that you think could be close to 50 higher. Tell me why. Okay, so this year, right, this as battleground stock. Its in the social media area. I think investors are kind of overlooking the fact that this company is still growing its top line over 30 on a year over year basis. On top of that doing it profitably. The market wants to focus on mau, Monthly Average user growth, which has come down a lot to almost zero. I think the company has rededicated themselves to fictioning that to make it more user friendly, to make twitter expand. I think its going to grow again. As soon as it does, as soon as investors see that, i think the stocks in the 20s. All right, michael, thank you. Michael binger with gradient investments. Coming up, how a new rule is making brokerages rethink how they advise you on your retirement plans. Heres a look at what to watch. Tuesday, a read on inflation at the wholesale level with the release of the socalled Producer Price index. Wednesday we bring inflation back to our level. The Consumer Price index. Inflation a key component on the federal reserves watch list with respect to interest rates. Speaking of the fed, the central bank will wrap up its twoday policy meeting wednesday with chair Janet Yellen Holding a news conference. A new rule expected to be finalized by department of labor in the coming weeks may impact millions of investors with retirement accounts. Along with the brokers and the other firms that manage those monies. Its designed to prevent Financial Advisers that putting a clients Retirement Savings into highpriced products benefiting the advisers wallet more than the investors. The rule will rewrite how trillions of dollars of retirement money is managed. Mary thompson takes a look at who wins and who loses when that rule comes down. United in their support of acting in the clients best interest the department of labor and the financial industry disagree on whether a pending rule helps as the Labor Department says it will to protect investors from backdoor payments and the hidden fees in retirement investment advice. The securities Industry Trade group sigma counters this rule will hurt investors. Its going to limit investors choice, its going to raise their costs. Reporter the rule requires broke brokers and firms providing investors advice how to invest or move their retirement money to disclose information on compensation and product fees and to develop new systems to track client activity. Ken benson says it will make smaller retirement accounts too expensive for a lot of firms to manage. Its going to limit what firms can provide and how they can provide services to those investors and those Plan Sponsors by adding a tremendous amount of new regulatory and legal liability that firms doctoring to find very difficult to take on. Reporter if the final rule reads like the initial proposal its expected costs will keep smaller brokerages from complying, forcing them to either lose accounts or move client money to feebased rather than commissionbased accounts, argued to be more costly. Morning star forecasts any money lost from small brokerages will likely find a home in selfdirected accounts offered by discount brokers like charles schwab. Firms offering etfs like black rock will see more new money coming in. Morgan stanley, one of the biggest traditional brokers, says its been prepping for the rule change. It doesnt expect to lose smaller retirement accounts. The morning star sees variable annuities losing favor as high fees and added disclosures will discourage advisers from selling them. The pending rule promising changes will change the world of retirement investing. For nightly Business Report, im mary thompson. Comedian Jerry Seinfeld put his 18 vintage porsches up for auction today. But many of the top cars missed their low estimates. The big one wasas this 1973 canm spider estimated to sell between 5 million and 7 million. No, top bid 2. 8 million. Seinfeld bought it for nearly 4. 5 million back in 2012. But this 1955 spider did get 5. 3 million, topping its 5 million estimate. This could be sign of a first crack in this market. Thats right, i eye youre right. Art, who knows. Well be watching it for you. That does it for nightly Business Report. Im sue herera. This is the time of year your Public Television stations seek your support. Alan cumming this is masterpiece mystery sherlock is back. John i want to know why you faked it. You have missed this. Sherlock the game is on. thunder woman wailing National Funding for masterpiece is provided by. What i do is about living. Its about living the best life you can and enjoying the fullness of the life around you