Prices settled above 51 a barrel. Thats an 11month high and nearly double the lows hit in februa thanks to one of the most powerful crude rallies in years. Experts stay a sustained price just above 50 a barrel takes some of the pressure off of producers yet its not enough to translate into sharply higher price at the gas pump for consumers. We look at where Oil Prices May go next and how long they may stay in this sweet spot. Reporter oil prices are the rise from february lows where crude got dangerly close to 26 a barrel. An interesting dynamic emerging. In a higher priced environment perhaps producers will pump more crude. Producers will feel more ease now. I think the profitability area is between the mid 50s and 60. I think then theyll start to think about getting back in the game. Reporter the Energy Administration reported prod for the first time in 15 weeks and last week it increased which surprised the market. When prices go up it pushes price back down. Its supply and demand. Its like anything else. At this point of the higher prices its more conducive for people to explore and pump more. Reporter while Oil Prices Climb gas prices are staying relatively low. Aaa reporting the National Average for a gallon of regular is 2. 36, certainly up from the lows but about 40 cents lower than this time last year. Will gas prices continue to stay low . They might. It seems to be that oil prices have limited upside from here. I would think well move up through the end of this month probably at the most would be about the mid 50s, 54 is about the upper range of this. The driving season is definitely a factor but we have to see the inventory go down a bit. So far we havent seen what we want to see as far as a real empa tus for the market to go up. Reporter last year at this time we saw crude prices peak around 60 in june and then they went back to the high 30s by august. Its too early to say that we wont see that pattern again. Lets pick up on where we left off. How long does this sweet spot in oil last and what does it mean for the economy and the consumer. Joining us is the senior portfolioists. Lets start with what jacky left off with. We saw it move up and then it moved back down to 30. Where do you think we are right now . Is the level were seeing in oil now stainable for a longer period of time . I dont think the consumer has to worry much in the shortterm. If you think about gas prices its an attractive level and were seeing that in suv sales and pickup sales so i think the consumer has a while to enjoy this price range. I think in the coming months whats going to weigh on oil prices is the massive storage amount we have in the u. S. We have over 530 Million Barrels of oil in the u. S. In storage. Lets talk about where you see in the out years as they stay in politics, three, four, five years down the road, you have a more bullish oil price in mind of about 70 and that seems because youre focussed unlike a lot of people who follow oil you seem to be more focussed on demand than supply. Absolutely. One of the very quick things to see about oil demand is it grows each year. The exception would be 2008 with the financial crisis but what were seeing is population growth around the globe is leading to stronger demand for transportation. That means cars, trucks, planes, buses and were seeing demand growth of about 1 Million Barrels a year and thats i should say 1 Million Barrels each day per year. Thats a strong number. On the supply side the industry went too far with the cap x dollars being spent. They had a massive pull back and now were seeing the change to about 51 today. Is some of the pain thats being felt for in stance in the sales sector and also in the energy sector, weve seen a number of companies have issue with debt and things like that, do you think weve seen the worst of that . The pains not over yet and theres two very different worlds out there. There are those Energy Companies that have stainable Capital Structures and those that dont. Were seeing debt from companies that have defaulted and on the flip side weve seen over 17 billion in capital raised from stronger companies. Those are the companies that have the best assets and low operating costs that are starting to look adding rigs back into production. Thank you. How about this, stocks closing in on new highs, the rise in oil prices lifted Energy Shares which in turn pushed the major indexes up. Also helping stocks is the belief that Central Banks are going to continue to support moderate Economic Growth, keep Interest Rates down. As we mentioned the Dow Jones Industrial average reclaimed that 18,000 peak rising 66 points to 18,005. Nasdaq added nearly 13 and the s p 500 rose about 7 on the third day. 5 from the all time high. There were a Record Number of job openings. More than 5. 5 million positions posted in april. The openings are from manufacturing to trade to transportation. While the report does show that employers wa to hire more the high number can reflect the difficult times some companies are having finding the right workers. The world bank cut the forecast from 2. 5 . The energy cites lingering price praesh. The world banks current forecast is more pessimistic than the out look for growth this year. Indian Prime Minister told a joint meeting of congress that the ties that bind the u. S. And his country are indispensionable. He received a warm reception from lawmakers sharing his vision as he looked to deepen the relationship between the u. S. And the Fastest Growing major economy. Let us work together. We have shared ideas into practical cooperation. There can be no doubt that in one thing in this relationship both nations stand to gain. He hopes in a gain translates into a more prosperous independenteea and u. S. Companies plan on being part of the growth strategy. Reporter india continues to garner the support of Corporate America partly due to its Economic Growth story and its passionate probusiness leader. The u. S. Executive at a reception last night pledged their deep support for the agenda. Im pleased to announce today that amazon will invest 3 million on top of the 2 Million Investment we announced in 2014 to bring it to over 5 billion u. S. Reporter indias appeal as a destination for u. S. Companies continues to grow. You hear them talking about the opportunities in india and india has replaced china and that story is getting better. Weve heard apple and ge talk about it. Reporter experts say in order for u. S. Companies to priertize growth the indeean government will have to crack down on corruption and red tape which the Prime Minister says hes working to improve, the question is when we wi see results. Still ahead why the scars from the housing crisis run deep even eight years later. The automobile crash that killed the former ceo of cheese peek executive has been ruled of an accident. The medical examiner determined he died of blunt force trauma. The crash occurred one day after he was indicted on a conspiracy to rig oil prices. Losses from the canadian wildfire near the oil sand are likely to total more than 3 billion. That estimate comes from the reinsurance broker. The fire destroyed at least 10 including more than 2,400 homes. To the Housing Market now which saw the volume of Mortgage Applications swell more than 9 last week from the previous week. According to the Mortgage Bankers association the increase may in part be due to a slight drop in Interest Rates. The rise follows weeks of decline. Its been eight years since the housing crisis, the next guest some home buyers are still dealing with the fall out and he believes the housing crisis has led to a breakdown of social order and a lack of trust in our financial system. He is author of the book chain of title. Welcome. So deep but on the other hand when you look at the completed and total collapse of the Housing Market perhaps it should take that long to heal. Yes, perhaps. The fact remains is that not only did we see dishonest lending at the original nation stage and then dishonest securization where the investors were defrauded and told the loans were of good quality when they wer but we saw dishonest from the chain of title and when individuals were foreclosed on they were done so with false documents which was a coverup for this lack of chain of title. So there was dishonesty and the fraud was layered on top of one another and it really does engender this loss of faith in institutions. Let me bore in a little bit on that. Youre saying some of these people who bought houses with loans they couldnt repay, what was faulty about the foreclosure that caused them then to lose their homes . What was faulty was that the evidence that was used for the foreclosing entity to prove that they actually owned the loan and had an interest in it was faulty. It was fabricated and forged and in any other legal context if youre using false evidence to convict somebody the judge would throw you out of Court Whether you were innocent or guilty and the fact remains that every day in america to this day somebody is kicked out of their home based on a false document. As i understand it you feel as though thats part of the reason this lack of faith in institutions, it has led to sort of societial breakdown if you will the lack of trust that goes further than in some previous financial crisis, is that correct . I mean, i think theres a lot of frustration and anxiety and it gets to the lack of accountability. The fact this is still going on today, we had settlements over this activity in 2012. You would presume that when you settle over unlawful request ukt that it stops and the fact that its gone on and continued and most people feel that there was not very much accountability for those who perpetrated the financial crisis and the associated frauds that occurred and that is that reasons deep sort of in the american psyche. It gets to fair play and justice and all these bedrock american values. What responsibility do borrowers have in this. A lot of people took out loans in that they had no business taking out. Im not saying they werent sold there are two sides to a lending contract. Just as the borrower makes a promise to pay, the lender is supposed to make a promise that theyve underwritten the loan and seen that the borrower has the ability to pay. Theres plenty of fault to spread around in that process, however what we know and what is detailed in my book is there was tremendous deception at the lending stage and the Loan Servicing stage. A lot of these defaults were servicer driven where you had loans that were 2 cents short and people were defaulted on when they paid cash for their homes. There was a serious breakdown in the system of property records law which is 150 years older than the constitution. When you have that breakdown it really does have this sort of breakdown in the social order. Thank you. We have to leave it there. Thank you very much for joining us. Thank you. It is back on track and thats where we begin tonights market focus. Inventory levels back in line which led the company to s guideness a. It did see a rise in sales that managed to top targets. Shares of lu lu up nearly 5 . Williams companies warns it to cut next quarters dividend if the merger falls through. The proposed mergers questionable. Shareholders are expected to vote on the deal june 27th. Shares down more than 1 . Gentlemyahoo is selling 3,0 ents hoping to generate more than 1 billion that includes the original search technology. Shares up to 36. 97. After resigning last month former lending club ceo may actually be interested in buying the lender. They say he has been speaking to private equity firms and banks regarding a potential byout. Shares up a fracture to 4. 42. Restoration hardware is cutting earnings after a loss in the most recent quarter. The company citing a slow down in luxury shopping. Pigs may not fly but pork prices certainly are. Demand is climbing, especially in china and producers are feeling the effects. Kate kelly who gets all the great assignments reports from the world pork expositive in des moines. Reporter all Day Breakfast menus and the on set of summer grilling has something to do with rising pork prices but analysts say that foreign exports are a big part of this story too thanks to china. Were seeing a shortage of pork so demand in red hot in china. They are trying to find pork to fill the demand. When you see chinese hog prices double the price of u. S. Hogs the market is excited. Reporter mexico has placed big orders for u. S. Pork too and it means prices will likely go higher. Prices are up about 45 making its one of the best performing commodities. Still were far from two years ago when we hit 1. 34 a pound. That was amid a virus that wiped up pigs in the u. S. Pork producers are happy to leave those days behind them given that 7 million pigs were wiped out and many have installed baths or decontaminating features hoping to keep the animals as healthy as possible. Its contributing to a sense of optimism at the moment. Were back pretty much at full production. Consumer demand has been terrific. Its held in there very well. Our exports have done well. Weve been able to compete against the competitive proteins and i think thats why pork prices have remained strong and profitable for producers. Reporter for now the suns out, the pigs are preening and farmers are riding high on the hog. From pigs to pups, coming up combine an app with puppies and one entrepreneur sees a recipe for business success. Shopping is going to the dogs. Americans spend billions of dollars on their pets every year and now one startup is on a mission to grow its share of that market. We go inside a high tech pupup shop. Reporter youv likely heard about pop up shops where a store is temporary where companies hope to build up the brand to existing customers, but what about a pickupup shop. Here its the dogs not the people doing the shopping. This is a pupup shop, dogs can come in five at a time. They wear these vests that transmit a signal back to a mobile app. So parents can follow along, see which products the dogs are most engaged with and buy it through the app. Its a first of its kind concept in an area of retail that continues to grow. Americans will spend 62 billion on their pets this year, up 4 from last year. But bark and company co founders believe theres plenty of market share to be had. Dogs are more like kids so we try to create products and services that play into this idea that thats been a change in our attitudes. We want to bring disney to the dog world so theres when none of that has been created theres just a tremendous amount of innovation available to you. Reporter many pet owners know bark and company for the Monthly Subscription bark box which represents 75 percent of their revenue. The business has expanded. They have shipped more than 25 million pet products to date and its website which have original pet videos get 10 million unique visitors a month. One of the companys more popular products is the dog mold. Lets say which one is liked the most. What do you think . Nightly business report, new york city. The rich are getting richer and they will be more so over the next few years. Robert frank has the details. Reporter youve heard of the 1 but everyone should be on the lookout for the. 01 . In the next five years the worlds millionaires will control more than half of Global Wealth so with is that growth coming from . Asia. Even as millionaire growth is slowing in north america. We saw a slow down in some parts of the world and also it was also very weak market performance. Reporter the very rich are expected to see the fastest growth and gain a larger share of wealth. Households worth 20 million or more will see their wealth grow 9 p 9. 5 . The reason equities will drive much of the Wealth Creation in the coming years and the very rich own the most stocks and as for that exploding growth overseas. Asia pacific will overtake western europe in 2017 in terms of size to become the second largest region. Reporter women will play a growing role as well controlling onethird of the worlds wealth. For nightnightly business im robert frank. Speaking of millions fors is out with its list of the top 100 earners in sports and two out of the top three is soccer. In third place is lebron james and the Soccer Player for bars lonna and he made 81 million. The highest is ranoldo. Only two women made the top 100, Serena Williams and Maria Sharapova at number 88 who today was suspended for two years from womens tennis for admitting to using a banned substance. That does it for us on nightly business report. Im sue herera. Thanks for watching. This is the time of year that your Public Television station seeks your support. Im tyler mathisen. We thank you for your support. Have a great evening everybody. Well see you to man support for this program is made possible by contributions to your pbs station from viewers like you. Thank you from American University in washington dc, bestselling author and financial expert, suze orman, answers critical questions about your money. Tonight is all about you the goal of money is for you to feel secure. The goal of money is for you to feel powerful. You have problems but heres the good news i have the solutions. man suze provides essential advice in. Please welcome suze orman [drums, guitar, keyboard play in bright rhythm]