The reasons ib collude falling oil prices, mixed auto sales and concerns over the italian banks. Not even a stimulus package out of japan was enough to calm fears. Dow industrial average lost 90 points. It has been down as much 150 points. E nasdaq was off 46 snap its fiveday win streak and s p 500 fell 13. As for oil prices, they settled below 40 a barrel for the first time april and the auto stocks shift lower today after july sales pain a mixed picture. Sharfiat chrysler fell today. Overall, the pace of s increasing autom while maintaining strong profits. Phil bow has more. Afterf rising auto sale, dealer rs facing a new realit fact, they cooled of july, with thres reporting sales that were below expectations. Thautomaker, buyers are paying close to a record high for new models. On average, almost 33,000. The bad is automakers are spending more through incentives to win over buyers were going to settle into a more relaxed buyer attitude and its going to be harder for Car Companies to pull buyers in. Far, there have been no major production kuyts. And the inventory of new models is not bloated, but theres an uneasyness in the industry because traffic for some dealerships is down. So there appears to be fewer people lookingt now. Perhaps an early indication the industrys run of rising sales is abouto run gas. These summer raditional ly t doldrums continue, automakers may face pressure to raise buyers report, n and buy a ne chicago. There may be questions about th but the latest government report shows overall spendinging is still healthy. Consumer spending, which accounts for more than twothirds of Economic Activity rose. 4 in june. The Third Straight month of fwans, so, what are some of the most consumer focused businesses saying about the health of the consumer . Bob pi considering everyone is is talking about how well the consumer is doing, the news today reflecting Perfect Little storm for consumer names, so auto stocks were down for ford and gm and chrysler. And the retailers like dillards and kohls and macys were down. Delta air said its revenue fell 7 in july and texas road house reported a boat on earnings. That took other rest y ships were down because Royal Caribbean had higher fuel costs and currency issues, particularly on the weak british pound, so, is the consumer really weakening . Not necessarily. Royal carin said book physician were strong and the damage to airlines and autos appear to be largely selfinflicted, so the Auto Companies have been provideing h caprecently. Stocks reversing course and retailers have been noticeable outperformers, so its surprising bif gak some dpans. Well, Consumer Spending is holding up. The same cannot be said for investment is down more than 2 and has fallen now for three straight quarters. The chief economist t at steeple 6 income and joins us now with perspective. Welcome back. Thanks. Is there one particular element or part of this environment that is Holding Business spending back . I t its a number of issues. When we talk to businesses around the country, big and small, they continue to cite uncertainty. Whether thats unterupcoming pr policy. They also talk about ample egulation, so i t businesses sidelines d, which is continuing to exacerbate this weak economic environment. Doe not feel at least to as great an extent some of the same consumers es do appear to be on more solid footing. Certainly, they were doing the heavy lifting in the s providing over 4 growth. To the economy. Helping to off set a lot of the other negatives across some other key sectors of the economy, so i should caution that type of strength is going to be difficult to be maintained without Business Investment leading to ample job and income creations thcaused you to downg what youre expecting in terms of Economic Growth . We were looking for a more moderate rebound in the second quarter. Growth fell short with businesses continuing to xas erat bait this trend. Now looking forward spoot second half of the year, we have parred back our estimates for top line activity. Thank you, good to japans government is is ready to put more money into its stagnant economy. The cabinet s approved a new stimulus package worth 78 billion. The effects of the money may be. Certainly the largest economic stimulus package passed here in japan since 2009, but we saw the nikkei fall about 1. 5 largely because of the details in that package. Just 7. 5 trillion yen set aside for new spending. Spent on, Infrastructure Projects related to reconstruction in areas affected by the earthquake in southern japan earlier this year, we also kn the government will be giving cash handouts in the amount of 15,000 yen. Roughly 147 to low income individuals and boosting hourly of a renewed push j p moving to gover double its etf purchast m of th larger question here, the package actually the moving party to boos 1. 3 of gdp in the near term. Say that number is more. And there is increasing fatigue here of an economic stimulus package. This is the 26th package passed here in japan since 1990. None of which have done really what theyve looked to turn the Japanese Company around. There is increasing fatigue and increasing pressure on the japanese government to go for larger, bolder, structural reform that socalled third arrow of abe no, ma thats bee quite slow to take shape. And still ahead, funding fight. Why the money to battle zika is being he not surprisingly, there the road to the white house today. Richard endorsed Hillary Clinton for president , becoming the first gop congressman to do so. And that wasnt all that happened today. John harwood is in washington with more. And john, lets start with what happened between donald trump and House Speaker pa they have had a disantd tant relationship, but things seemed to escalate a bit today. This is really inexplicable. I out what donald tr has in mind here, but he seems to have a tit for tat psychological. Paul ryan said he wasnt ready to endorse trump. Trump today said hes not willing to endorse t House Speaker of his party who has a primary next week. He tweeted out something friendly to the opponent of paul ryan, but this is an Extraordinary Development bee paul ryan is about as popular as you can get nondonald trump republicans, among people in the rest of the political world and he seems to be challenging paul ryats how is t party reacting to this . Zblz the Republican Party doesnt understand what donald trump is doing. Youve had two prominent women aides to big time rey bradshaw, who was an adviser to jeb bush, adviser to chris christie, on Donald Trumps team both came out and said they were going to support Hillary Clinton. They could not regard donald trump as fit for the white house. And along those lines, two final questions. How much does he need the Republican Party behind him and what about president obamas comments earlier today saying he does not think donald trump is fit for the white house. Well, president obama amped up the pressure on republicans saying they condemn these comments, how can they still endorse him. Donald trump needs republicans, among other reasons, one, 90 of republican votes if youre republican nominee, to win the presidency. Second, he needs Republican Fund raising support. Hillary clintons raised a lot more money. They just come out with numbers for july. Hillary clinton said between her Fund Raising Efforts for her own campaign and the democratic party, shes raised 90 million. Trump said he raised 35. He needs to do a lot better if hes goi novemb. Thank you so much. Aetna has become the latest large insurers to forecast a loss on its Affordable Care act year. The company is citing mowning medical costs and is reconsider its participation in exchanges. They reported belter than expected profit and revenue growth. Aetna had hoped to break even on its plans in 2016, but now expects to host a 300 million loss, saying plan memberses this year are racking up higher medical costs fueled in part by high cost drugs. Before, we were 100, 150. Illion in losses. Now weve got 320 million in 2016 and we get in front of it with changes in the risk adjustment mechanism, were not go so now the insurer says it may cut back on its exchange r the department of justicn humana as well as anthems deal to buy ccigna. These two mergers both threaten to reduce competition nrt Many Americans who obtain health insurance. Established by the Affordable Care act. These four companies have been among the most active in offer aing insurance to the exchanges. Aetna says its Exchange Health announced its exit from exchanges this year and a number of blue cross plans are also cutting back for 2017. But without some of the savings that could result from the merger, analysts says they had guided to 1. 2 billion. W humana, so that can subsidize a lot of losses on public changes and wall street is is relentless. So, if theyre not get tting to break event produc next year, ss going to be worse. They say theyre committed to fighting the doj in court. As pd a deal to sol of their advantage plan to Molina Health million. Justice department declined for nightly Business Report, im bertha coombs. Pfizer tops estimates even as profits plunge. Stronger sales of two new drugs helped the giant to clear wall street targets. Pfizer also said it would pay nearly 500 million to settle lawsuits tied to two of its drugs. As for whe it split into two companies, it is uncertain and will decide by the end of the year. Shares fell 36. 39. Biogen may be an acquisition target. Merck and aller again have had talks with bioge about a potential taken a deal. Shares rose 9 on the news. While shares of merck and Consumer Products company proctor and gamble beat expectations. An increase in sales in the Companys Health care and grooming segments helped lift results. The companys ceo says the organ began sales were up. Sales r were up in every segment and we delivered nice triple digit basis point gross margin improvement in 145 free cash flow, so a good quarter, a good base to build on. P and g shares up to 68. 76. Cvs saw revenue rise. Those results still werent good expected earnings. Tat cvs lowered its Sales Guidance for t shares finished the day up nearly 5 . Soda stream had a bump in sales. Thanlgs to the companys markets programs and efforts to shift the brands focus from soda to spars we ahead of analysts targets. The Beverage Company said net income increased. Shares soared 16 to 28. 25. And aig topp eped profit estima. The company said it will launch a 3 billion share buyback. Shares after a aig rose, but finished down a tick the centers for di issued whats been described as an unprecedenteded travel warning. The agency is advising pregnant woman and their parto avoid an area north of miami because zika concerns. Now, attention turns to washington and the funding. In miami, authorities are e mosquito population. But today in washington, the u. S. Capitol is nearly empty after congrs was unable to take any action on a billion dollar anti zika funding measure before lawmakers headed back for white hou asked for 1. 9 billion for zika p and the house passed a 1. 1 billion measure in june, but the bill died in the senate amid partisan squabblinging. Thats got people on both sides pointing fingers, including the ebola. Its time for congress to cancel its vacation. It should come back the washington. Pass the president s response package. It should get this help on the way because people n from their government. Republice democrats. This only underscores the importance of Senate Democrats endi bust e o f house passe for now, the federal government has send teams to miami and florida agencies are going door to door offering testing. Much of that is financed by 27 million in Emergency Preparedness fund frg cdc and officials have shifted hundreds of millions from fighting e bole la in africa to fighting zika at home and congress doesnt return to work until ses about the zika virus grows, so do concerns about the travel industry. Everything from airlines to hotels to cruise ships. They may find themselves in cross hairs by travelers spooked by the virus. Jonathan is head of public affairhe joins us now. Welcome. The cdc called it an unprecedented warning. One, do you agree and two, quantify what type of impact you think this might have on your industry . Con tine park to the ne of winwood in miami, which bears mentioning becaus. It is certainly concerning to those pregnant or wi to be pregnant and different have Previous Health scares that have spread more geographically. For instance, you were referring to ebola or swine flu or Something Like along those lines. Correct . Sure. Whether its ebola, swine flu, e bac end. Re do you think well see an impact, the fear factor, or not . You thfa realizinging if they dont fall into that particular category, that thing s are okay . Were in the early. Really, the most important job for us all, not only in the travel industry, but also political leaders and the public is to make sure were listening to the experts, the pros, that were being precise with the information thats being passed around and thirdly, that theres proper perspective and that we dont r oversell this situatios. E important we keep a level has your industry reached out to congressal representatives to put pressure on them to come le k early and maybe do some fun funding both on the executive branch and legislative. The good news is that ro what i to keep a vibrant and strong travel industry. So were confident that theyre going to keep an eye on the situation. The good news if there is any, about congress being home is theyre doing a lot more listening and less talking. And that probabl to have them come back here and modulate d actions. That are to an a. Thank you very much. My pleasure. Coming up, cutting the cord . Ot so fast, it has been a since bob iger raised concerns sending shock waves through the sector. Well, one year later, were back in the thick of media earningings and the tv business may be in better shape than my had peblgtsed. Julia boorstin reports. With so many new ways to access content woutd p media giants still have concerns about the health of their core business. Concerned spots when disney talked about core cutting and skinny cable packages on espn. Espn has experienced modest sub losses, though those have been less reported. One year later, were seeing media giants offer more content direct to consumer, but their core tv business doesnt loas b related to cord cutting on the one hand, probably ad dollars going to digital platforms. On the other, neither of those two things really have material ized in we seen dramatic decline in live viewership. Take discovery, whose stock shot higher after reporting better than expected earningings on the performance of its u. S. Cable network. The ceo saying hes focused on building content apps in europe to sell to consumers outside the tv bundles. Weve seen an explosion of options. Skinny bundles from sling tv and verizons custom tv, even working on its own live tv skinny bundle. Core cutting is slowing 4. 8 ra. Thats ta a the rate a year earlier and things are l k t ps bes sec in a decade in terms of subscriber losses and media giants seem to be gaining traction. Cbs saying its all access and show time acts are ahead of schedule with two million subscribers. I think the competitive environment for a netw, t tv consumer market, is extraordinarily tough. And discovery as well as cbs and nbc as ad prices kick in and some that shifted the digital return to tv. Now, all eyes will be on what disney says when it reports earnings a week from today. Im Julia Boorstin in los angeles. Julia reported on comcast in her torre, the Parent Company of cnbc, which produces this y good night, heres look at the day. The dow lost 9points. Nasdaq up 46, s p 500 fell 13. That is nightly Business Report for tonight. Thanks for joining us, have a great evening, everybod and well see you he officer ii. secretary i can tell youre a man who appreciates a woman of experience. It wasnt suicide, it was murder. Get off me you stupid mare policewoman who is this lenny powell . Someone to steer clear of. announcer the winner is mike the mallet maddock i managed to get these at the club. Thats rebecca jones. I need you, now. Maddock maddock youll give it up soon enough. Promise youll find the person who hurt my daddy. theme music im mad about the boy