Early on the blue chip dow index rose triple digits but the gains were cut in half by midday only to rise again and drift down into the close. On the day the dow jones indu lost three points to 18,120. The nasdaq was down nine. The s p 500 fell a fraction. A jump in the price of oil and a strong report on the Housing Market. But when oil turned, so did stocks, making it clear that the price of crude matters now more than usual. Oil prices settled slightly higher as they hold out hope for a deal to freeze production. The strong Housing Market saw confidence with Home Builders rise to the highest level in almost a year. That helped Home Building shares like those of lenar, dr horton and pulte rise during trading day. Diana olig takes a look at whats driving the surge in one of the economys most important sectors. The sales offices at eya, a developer in the d. C. Metro area, were very busy this summer. Busier, in fact, than usual. They started in july and carried into august. It was surprising relative to what we have seen in the past. As jobs and incomes improve buyers are enthusiastic and more serious about signing on the dotted line but there may be Something Else behind the rush to buy. People felt Interest Rates have been low for a long time. There is fear that eventually Interest Rates will rise. Home builders are seeing it across the nation. A monthly index of Builder Sentiment jumped by a wider than expected margin in september with builders citing big gains in current sales and sales expectations over the next six months. Builders may also be benefitting from a lack of supply of existing homes. It is not that people arent listing so much. There are new buyers and more buyers on the scene now than a year ago. Every wellpriced home gets snatched up. There are multiple beds. Builders are confident of demand but struggling to keep up with it. A shortage of land and labor are increasing costs for the builders and regulation is show construction. Some of the nations largest Housing Markets are in most dire need of new construction, according a new report from the realtors which shows the top ten cities where supply is tightest. The west is worst, accounting for half the list. Traffic was way up. So we saw people coming in multiple times, spending more time in the model homes. Reporter hes hoping the enthusiasm keeps going right into the fall. Im dine that oleg in chevy chase, maryland. Today kicked off several readings on the Housing Market. Tomorrow well get Housing Starts and later in the week, existing home sales. Will it continue to be good news for the housing industry . Chief economist at zillow joins us to talk about it. Nice to have you here. Thank you very much. Lets start with the basic question. Things seem to be not only improving but going well. Do you expect it to continue . I do expect it to continue. The sentiment numbers that we saw come out this morning really under line what we have been seeing in the market. Thats new home sales have been doing well. Existing home sales have been stepping aside. So new home sales have been filling the void as inventory has been relatively tight across the nation. Builders have been trying to keep up and fill demand thats strong. Is there any bad news in the Housing Market in terms of pricing . Well, you know, depends on which chair youre sitting in, i guess. As a buyer, it is a fairly competitive environme out there. Its hard to find a home. It is hard saving for the down payment. We are seeing home values continue to creep up. We have home values up roughly 5 annually now at zillow. It is a steep home value appreciation. R some buyers, it is fairly tough to break into the Home Ownership space. They are paying relatively high rents and having a problem saving for a down payment and being able to find the affordable home. They have been helped a little bit by lower Interest Rates. Historically low Interest Rates. The expectation is before the end of the year one way or another well see the fed hike rates perhaps a quarter point or so. Will it have a meaningful impact on the Housing Market or is it not as significant point increase . I think in general it is not going to have a significant impact. If you cant afford a mortgage payment today you probably wont be able to afford one after the rate hike either. That doesnt change the situation much. As we start to see more of the rate hikes and rates will essentially come back up again well start to see markets like San Francisco, denver, seattle that are more expensive markets. They will see a little bit of a dampening effect on demand. Housing will be more expensive. All right. Well leave it t thank you very much. Thank you. A rare change is happening to the s p 500. The index is getting its first new sector since roughly the dawn of the dot com era. Real Estate Investment trusts, reits, one of the hottest investments of the past decade will now have their own walks us through what the change means to investors like you. Reporte the s p 500 is getting a facelift for the first time in almost 20 years. Since 1999 the s p has been divided into ten sectors including technology, financials, health care, and energy, among others. Starting today there is an 11th sector, reits or real estate inve from shopping malls to Office Buildings to personal storage units. Theres been growing interest in investing in real estate as a separate asset group as reits throw up high dividends that are attractive in a low Interest Rate environment. They have outperformed the Broader Market this year. Reits were part of the Financial Sector but it never made sense to include them in the group. Real estate is different. For all the above reasons Standard Poors has an 11th sector for reits, 3 of the rating in the s p 500. Thats not much but materials, tell come and utilities are also 3 . Real estate investors hope this will spark even more interest in investing in the asset class. At the new york stock exchange. The commercial Real Estate Market is one reason why the president of the boston fed wants the central bank to act. Jour the soaring market for office and apartment buildings is driven in part by a scramble for returns. He was an advocate for easing money policies reversed course saying those policies could allow the markets to get out of hand. The twoday policy meeting starts tomorrow. Investors will watch japans centrabank. It meets this week. Policy makers are likely to boost economic stimulus. Ahead of the meeting Prime Minister shinzo abe addressed investors in new york city to talk about the economic advantages of trade deals like the Trans Pacific partnership or tpp. Japan and the u. S. Must each obtain domestic approval of the tpp as soon as pfo the early entry. Success or failure will sway the direction of the global free trade system. The tpp is a major part, of course, of president obamas strategy in the asiapacific region. But its passage faces an uphill battle in congress. Now to the story thats on almost everybodys mind the bombings in new york city and new jersey. This evening authorities have a man in custody. Morgan brennan has more from the chelsea neighbor this past weekends bombings, ahmad rahimi has been apprehended. He taken into custody after engaging in a shoot out with police in linden, new jersey. He was shot several times but was conscious at the time of arrest. Still the Investigation Continues despite no other individuals they ar looking for at this time. Here on 23rd street where a bomb exploded saturday night injuring 29 the fbi swept the street for clues this afternoon and carted away the green dumpster in which a Pressure Cooker device detonated. New yorks mayor labeled the incidents in new york as acts of terror at a press conference this afternoon. Fbi special agent William Sweeney linked the incidents in new york to the saturday morning bombing in a seaside park, new jersey. The work of the first responders, Law Enforcement personnel and the contributions exceptional. President oba spoke earlier today and offered federal support to new york and new jersey in their ongoing investigation. By showing those who want to do us harm that they will never beat us, by showing the world that as americans we do not and never will give in to fear, thats going to be the most important ingredient in us defeating those who would carry out terrorist acts against us. The president is in new york for the United NationsGeneral Assembly which kicked off today. Security in the city which is already stronger than usual has been dramatically boosted in the wake of this weekends events. For nightly business i the markets reaction to the bombing blocks from the nyse and nasdaq was restrained today. Here to explain why and look ahead to the market moving events is steven wood, chief Market Strategist at russell welcome. Good to have you with us. Can we say that the markets restrained response today is because the market has become inured to these attacks . It priced them in . Thats a reasonable assessment. The acts are nerve wracking, terrible, unspeakable acts. We have seen many of these whether its san bernardino, london in 2007. So for the better part of a decade and a half this is something of a new reality. Markets tend to respond quickly, not only to these headlines but political headlines. So the headline risk that drives markets tends not to stick around for long. I think the market is probably appropriately looking more towards the fundamentals of the Federal Reserve, the economy, the earnings season. While these are terrible, awful acts the market has priced it in as part of the environment. Lets turn to the fed. What do you expect from the fed . You know, we have seen a lot of volatility every time we hear a fed president speak. Do you expect that volatility to continue . I think what the fed is going to do this week is firm up the perspective. The fed has been debating whether to raise rates, when to raise rates because we have come through a dramatic time. The data in the u. S. Have been improving for a while. So they have gone from this dovish or easy stance and they want to leave open their flexibility. We think this week they will tighten up the language, not raise rates in september. What they will do is look toward december. We expect a raise from the Federal Reserve at the end of the year. Not this week but the end of the year. They will tighten up the language as the data improves in the u. S. What does 2017 look like to you with respect to Interest Rates. More hikes or just one next year . The expectation is for one, maybe two in 2017. I think two rate hikes in 2017 would be coming from good data coming out of the u. S. And good data coming out of europe and the bank of japan. One of the things we see now is as the data improve and Monetary Policy tightens up a little bit in the u. S. The European Central bank, the bank of japan, they are running the opposite direction as fast as they can. Its more of the International Data holding the fed a little bit lower. But it could be two rate hikes. We think one is priced into the market already for 2017 as well. How do you feel the market will perform for the rest of 2017, if indeed that rate hike, one or two, is priced in . We dont have a formal forecast for 2017 yet for the u. S. Market. What we do see in the u. S. Is a choppy sidewaysish market for 2016. Valuations in the u. S. Market look rather rich. We are telling clients that we are not calling for a recession. We dont think it is a look out below situation. But valuations matter. A more global, multi asset, diversified perspective we think makes cespedes. Look at europe, japan. But multi asset, global and an active environment is call for investors for investors, its more and more hard to find. Steven wood, russell thank you. Still ahead, big prediction. Why oracle thinks it can win and crush the competition in one of techs hottest Donald Trumps tax plan would reduce taxes and help the wealthy. According analysis by the conservativelea Tax Foundation the republican nominees new plan would reduce federal taxes by between 4. 4 trillion and 5. 9 trillion over a decade. The range there is due to conflicting statements on business taxation. The wealthiest 1 would see their after tax income increase by about 10 . The total cost of the latest plan is less than the 10 trillion price tag on the original one. An update now to the shipping story we have been following. Nearly a third of the container ships have unloaded cargo. That eases concerns among retailers that they now expect to get a portion of their products in time for the holiday season. Accordin the company, 28 vessels have unloaded goods at ports around the world including california. The worlds seventh Largest Shipping Company filed bankruptcy last month. Gas prices started to spike in parts of the country as we told you they would. According to aaa, gas prices were up 21 cents in georgia. 16 cents in north carolina. 13 cents in tennessee since last weekend. A portion of the Colonial Pipeline that carries gas to much of the southeast and east coast has been shut down because of a leak, preventing gas from getting to where it needs to go. Construction on a bypass is expected to be finished this week. Thousands are gathering in San Francisco for the Worlds LargestEnterprise Technology conference. So of the biggest players in the industry were talking about one topic in particular. Jot has the big buzz from reporter a decade from now, 80 cents of every dollar businesses spend on technology will be spent on cloud computing. Thats the latest prediction from executives at oracle who gathered business customers from around the world to San Francisco this week. So naturally high on the cofounders agen making the argument that oracle will have one of the best clouds to buy. Orring are ale announced new versions of the Database Software and infrastructure and promised to start releasing new Software Features first in the cloud, then in channels. Amazons lead is over. Amazon will have serious competition going forward. The cloud can be tough to understand. It comes down to this. Businesses arent paying for technology the way they used to. They are not just buying big servers, databases and apps and playing an army of workers to keep it running. Instead they are paying amazon, microsoft, oracle, sap and others a steady subscription fee to own and update the expensive data center and deliver the needed services. As a result there is a massive gold rush happening in the technology world. It is not yet clear how things will end up. It is possible that a few companies who once dominated small yet profitable bits of tech spending will use the cloud to suck in bigger, equally profitable chunks and crush competitors along the way. Several years ago we made the decision as part of the overall strategy to go all in on the cloud. We changed the organization to do it. We changed our incentives to do that in addition to seeing a lot of great products. In q1 our cloud growth in dollars combined with the new Software License dollars grew 16 . So really to us its the combination of those two that are important and the fact that cloud growth was so i mean we grew the cloud in q1 82 . It is by no means a clear path for Companies Like oracle. Besides the other tech giants they are looking out for other Companies Like salesforce who are fighting for their piece of a cloud pie that Gartner Group says will be worth more than 200 billion in 2016 alone. Im jon fortt in san franc for nightly business treatment for muscular dystrophy gets the go ahead. The drug was granted accelerated approval statement making it the first approved treatment for the fatal disease. A vocal critic of the medication left the Food Drug Administration last week. Shares soared nearly 74 to 4894. Casino operator el dorado will buy isle of capri. The merger will allow them to expand the geographic presence. The shares popped to 20. 04 while shares of el dorado fell nearly 3 . Tech data will buy Avnet Technology solutions for about 2. 5 billion. That deal is expected to create a onestop shop distributor for Consumer Technology and data center hardware. Tech data says the transaction will help earnings and result in significant cost savings. Shares of tech data popped to 8480. Av, in et rose to 4189. Another Technology Deal as well. Network Security Company info blocks will be acquired and taken private by Vista Equity Partners for more than 1. 5 billion. The private equity firm will pay about a 16 premium to info blocks Closing Price on friday. Today info blocks was up nearly that much closing at 2635. Go pro launked the latest two versions of the signature camera line and unveiled the first drone. It is called karma. Ceo nick woodman thinks karma could be a game changer for the company. I think karma is the most exciting product we have made. Its certainly the most enabling product in terms of helping people capture incredible professional quality footage of their lives and share stories like they are used to seeing on the big screen at the movies. Given that its what go pros brand is built on karma has a good shot at success. Go pro enched up to 15. 31. Sea world will cut the quarterly divide by more than half. It was cut to ten cents. The theme park operator said once the dividend is paid to shareholders in october, done. All quarterly dividends therea suspended indefinitely. Sea world was up seven cents but got hit once the news came out after the bell. The womens specialty retailer athena got hammered following disappointing guidance for 20. The Company Reported weaker than expected earnings but topped analyst sales expectations. Shares initially fell more than 20 . Look at that one after the news hit. Wiping out a 2 gain in the regular day session during which it closed at 8. 12. Ramping up political spending over a nineyear period. According to analysis by the Associated Press between 2006 and 2015 members of a little known group called the Pain Care Forum spent more than 880 million on Campaign Contributions and lobbying at the state and federal levels. Thats m powerful gun lobby spent. The goal was to fight laws to limit the availability of o yo opioides. The sales quadrupled from 1999 to 2010. Over dose deaths rose about the same rate. Still ahead, misfit stock . Why does the most publically traded company in the world have a hard time fitting here is a look at what to watch for tomorrow. Wells fargo chairman and ceo will testify before the Senate Banking committee on the fake accounts scandal. The Federal Reserve begins the twoday policy meeting to determine the direction of Interest Rates. Fed ex viewed as a barometer of the Global Economy reports earnings. Thats what to watch for on tuesday. Apple, the worlds most valuable publically traded stock, the iphones and ipads are high ticket goods many view as necessities. Apple is owned by millions, if not then as part of a mutual fund or etf. Why does a stock everybody seems to know defy easy categorization by investment pros and individu investors alike. Apple is the worlds most valuable company but the stock might be the ultimate misfit. Apples market value exceeds 600 billion and makes up more than 3 of the s p index the stock doesnt behave much like a market bellwether. The stock has been virtually flat the past four years. The s p 500 is up 50 . Apple shares gained a quick 9 . Another example is the cheap value stock attached to a business that still plays by Growth Company rules. Many investors take comfort in the modest valuation. Very few campaigns of apples size have ever been so dependent on products rolled out over a punishing two or threeyear cycle. Investors seem unwilling to put a higher value on each dollar of earnings without the confidence that the profitability can be maintained. Finally apple shares manage to be bost loved and neglected by wall street. Among the 40 plus analysts who cover the stock more than 80 rate it a buy. Professional stock pickers as a group seem to have sold the stock heavily in the first half of the year saving more of the shares in the hands of index funds. Th might explain the stocks recent strength on better than expected sales of the iphone 7. As the shares begin to perk up many Fund Managers feel the need to get more exposure to the biggest name. None of this offers a clear outlook for the stock. If apple approached the end of the fiveyean range the stock would rise from 114 to the former peak around 130 a share. The best bet might be for apples performance to remain streaky. The recent rally was just a passing phase of popularity for a widely watched stock that cant seem to fit in. Im mike santoli at the new york stock exchange. T it for nightly busine tonight. Im sue herrera. Thanks for watching. Im tyler matheson. Ha evening, everybody. Wel father brown russula emetica. Mrs. Mccarthy are you casting a spell . Father brown common name the sickener. Sounds delicious. Well, we cant eat this. I only wanted something to put in my pie, i wasnt planning to spend the morning traipsing around after you. So i am going to go to the grocers to buy some mushrooms. Look. Whats wrong . Its. Its a head. I think you should stay here. Man please stay away. Oh please stay back. Father brown i just want to offer my prayers for the deceased. The branch was blocking the road at head height. He hit it at speed