What a way to end the week. It was a melt up into the closing bell, which drove stocks to alltime highs. The s p 500 had its best day since march, lifted by continued optimism that Economic Growth around the world is on an upswing and a new batch of strong earnings. Of the s p 500 companies that have reported profits so far, 80 have topped expectations. Today shares of intel helped lead the way with a double digit gain following its Strong Quarter that we told you about last night. Here are the closing numbers. The Dow Jones Industrial average rose 223 pints to finish at 26,616. The nasdaq climgd 94. And the s p 500 added 33. For the week, all of the indexes saw gains of more than 2 . The rising stock market was not lost on President Trump when he addressed attendees at the World Economic forum in davos switzerland. He talked about the economy, and growth, and in a widely anticipated and high stakes speech told investors and ceos across the globe that america is open for business. Mishal Caruso Cabrera is in davos tonight. Reporter President Trump is on a fullcourt press to convince executives from around the world to invest in the United States. About an interview with c pabz President Trump reiterated how happy he is go the Corporate Tax cut, what its doing for businesses and happy its leading to bonuses for workers as a result. I think the tax plan has been better even than we thought. What did happen that nobody considered is that at t started, but they immediately followed hundreds of companies are giving thousands and thousands of dollars to their workers. He repeated that message again today to a crowd of more than 1,000 people. There have been two types of trump speeches, the state of the union speech. The softer trump. And there on the floor of the u. N. , the rocket man combative trump. This speech today was definitely the former. He catered to the crowd and softened his America First message. America first does not mean america alone. When the United States grows, so does the world. American prosperity has created countless jobs all around the globe, and the drive for excellence, creativity, and innovation in the u. S. Has led to important discoveries that help people everywhere live more prosperous and far health yes lives. [ applause ] no one walked out. Every seat was full. And despite all the complaints we heard from many of the people here about donald trump, the second he took the stage, the cameras went up. One journalist noted on twitter that all the quote global elites were behaving like they were at a Brittany Spears could be cert. For nightly Business Report, im michele Caruso Cabrera, davos, switzerland. Investors today may have been a little disappointed when they saw that the First Reading of real Gross Domestic Product for the Fourth Quarter wasnt quite as strong as hope. The report showed that the economy slowed at the end of last year. But a closer look also revealed something else. Steve liesman explains. Reporter u. S. Economic growth in the Fourth Quarter registered a bit below economists expectations but the details of the report were stronger than the headline. Gross domestic product rose 2. 6 as an annual rate for the three months ending 2017 down from 3. 2 in the prior quarter. But it was the Third Quarter in a he ro of above trend growth. That could mean more jobs but also higher Interest Rates ahead. The jobless rates is likely to move down yard because growth is moving above potential. The reserve will continue to raise rates just like it did three times in 2017. Its likely to raise it three times in 2018. Higher oil prices propelled investment in the energy sector. Higher stock prices motivated consumers to spend more of thb their income than they had been in the past. Taking away from growth was a sharp decline in inventories and a surge of imports. They are likely to continue to drag as heavily on the economy this year. President trump didnt get the 3 figure he made so important his treasury secretary suggested it may be too soon to look for it thats because the tax cuts and the higher deficit spending from the tax cut bill have yet to hit the question. I think we are going to see shortterm aberrations. We are not concerned about any one quarter which can be revised up or down. Relative to where everybody else was talking at the inbeginning of the year, 2. 1 or 2. 2, i think people now expect we are getting to 3 gdp. 3 matters kplitly. Economically, it only matters whether the u. S. Is growing altd or above the economys 2 potential. That was the case in this report and for much of last year. Its not a bad bet that above trend growths looks set to continue for this year as well. Meantime orders for long lasting durable goods increased in december the most in six years. Boxes for goods designed to last at least three years increased 3 . More than economists expected. Overall, durable goods orders rose for the last five months, a positive sign for the industrial economy. Law make remembers turning their attention to immigration. While politicians go back and forth over the details the Business Community is paying close attention, simply because of the impact that immigration has on the economy. Ylan mui has more. Reporter washingtons battle over immigration also has big complications for the economy. The white house is proposing a path to citizenship for 1. 8 million undocumented immigrants who were brought here as children. And that could immediately boost Economic Growth by 23 billion a year according to one estimate. Legal immigrants also make up a growing share of the u. S. Labor force. In 1980, just about 7 of workers in america were foreign born. A generation later, that number is nearly 17 . Immigration is not a panacea thats going to cure all of our economic ills. But having young people who are hard working, who are driven in the economy, is only good for america and for our american workers. Reporter thats why major corporations are getting behind a deal that would allow some immigrants with protected status to stay in the u. S. Permanently. In exchange the white house is requesting 25 billion for a border wall. Limits on sponsoring family members for citizenship. And an end to the visa lottery. Some worry those measure also wind up reducing immigration in the long run and harming Economic Growth. President trump has pledged that Economic Growth will hit 3 or more while he is in office. And solving the immigration puzzle could help him make good on that promise. For nightly Business Report, im ylan mui in washington. In termts of trade, what policies would be in the best interests of the United States . Here to discuss that and also offer insight into what the latest gdp figure means for the economy is beth ann bovina. She is s p gobles chief u. S. Economist. Lets start, why dont we, beth ann, with the subject of the gdp growth numbers, which came in a little less than some had expected, but better than we began 2017. We ended on a higher note there. What is there anything we should be worried about in that number . Does it signal thinking anything . A couple points. It was in line if what we expected. We were looking at 2. 7. We were close to that reading. One of the reasons why we thought that was because the trade numbers are coming in so lousy and we thought that was going to be a drag. Inventories and trade. They both from a drag. Inventory is interesting, partly because businesses emptied their shelves because of the holiday season. And now they have empty shelves, they have to fill them up again. That we see as positive. The other thing that people might not have noticed that the domestic final spending rating, incredibly strong, over 4 . That means the domestic side of the equation is looking robust, all good news. Let me turn you to trade. The president signalled he may not be completely done with tpp. What does that mean to you . And what does it portend, perhaps, for the nafta negotiations . Yeah. Thats we think this kind of softer tone that the administration is taking is actually a positive sign. We will see if it lasts. I mean things certainly do go up and down these days. But we do see that as a positive sign. We think that might actually give nafta, which is in negotiations, i think their sixth round, a little bit more chance. Our baseline is that nafta will stay in place although with some changes. We think this actually gives it a little bit more of a push to hold that. Another thing to take into account, President Trump mentioned some interesting, going back to tpp. There, given that the administration had just put some tariffs on i guess washing machines and solar panels, affecting china, particularly china, and other asian economies as well. You know, getting involved with tpp it might be good to have a few more allies in the region. Your baseline scenario is that we will stay in nafta. What if we dont . Is that going to be good for the u. S. Economy and workers or not . We have written about that in the past. We do see the baseline that we do stay in nafta but again its up and down here. We see that if indeed the u. S. Pulls out of nafta all three countries will be hit, keane de, mexico and the u. S. , u. S. The least. But what we can expect is yes maybe some factories will come back to the United States. But that lost Competitive Edge that we think that the u. S. Gained from these basically, the supply chains that helped make things much more smoothly operating could hurt our business, our competitiveness, and that would actually mean less business and probably fewer jobs. Beth ann thank you for clearing explaining that. Beth ann bovina with s p global. Its time to take a look at some of todays upgrades and down grades. Starbucks was removed from Goldman Sachs conviction buy list. They are maintaining the buy rating but cutting the price target from 68 to 68 from 7. Starbucks shared closed at 57. Down more than 4 . Bed bath and beyond was downgraded. The twice target was cut to 18 from 21. And the shares closed at 22. 53 down 2 . Heading the other way, whirlpool upgraded to outperform from market perform at raymond james. The firm notes the prospects for price hikes and improved washer margins. The shares agitated closer to the mark closing at 189. 97 up 1. 5 on the session today. Kb home was upgraded to neutral from underperform at buckingham the firm sites the decline in the stock and says kb is on track to meet or exceed its 2019 goals. It maintains a 34 price target but shares closed below that level, down nearly 2 at 33. 16. Still ahead, why wynn resorts lost billions in market value in todays trading in just a matter of hours. A surprise ruling against boeing. The International TradeCommission Voted in favor of Canadas Bombardier in an ongoing trade dispute. The commission ruled boeing was not harmed by bombardier and its c series jet. Bombardier argued that boeing benefitted from bailout subsidies and allowed them to sell to delta at ridiculously low prices. New york, noij, and connecticut are triple teaming up to sue the federal government. The states challenging the recently passed tax law and its captains on state and local tax deductibility. The governors say the law unfairly targets their states. New yorks governor contents that the federal law is illegal and that it violates states rights. Earlier this week we told that you the ceo of sun power was concerned about the impact solar tariffs would have on his business. Today sun power said it was putting a 20 million u. S. Factory expansion on hold unless its pams receive an exclusion. Sun power is based in california. But as we reported, it does most of its manufacturing outside of the United States. The tariffs take effect on february 7th. Earlier in the program we told you how the rise in durable goods orders is a positive sign for the industrial sector of the economy. Ywells Quarterly Results are no different. They confirm that. The Industrial Company raised earnings outlook for the year and recorded better than expected profits. That helped send the stock to a new high. Morgan brennan now with more on whats working at honeywell and in the sector overall. Reporter after a flurry of herbings this week, the industrial sectors message, growth. Take honeywell which Beat Estimates and raised guidance. The maker of jet engines and thermostats is welcoming demand across its segments. And despite a nearly 3 billion tax related charge last quarter its betting reform will boost business even further. I think its going to be good for u. S. Business. For us, we certainly see a much greater level of bullishness on the part of our customers which should translate into continued investment. You are right, their cap ex is our revenue and we expect some level of investment to accelerate. It is raising the match for its employees and plans to bring most of its overseas cash back home of the it isnt alone, caterpillar, 3m and United Technologies all posted strong results this week raising guidance and unveiling Capital Spending plans. Some companies are prefunding pensions and others are on the prowl mergers. Experts say growth is across the board as even hard hit Companies Like business yet is on the klein. Real people are spending money in the industrial world and i think its going to be a great year. Reporter there are exceptions, General Electric perhaps being the biggest. The dows oldest component missed expectation this is week and announced two s. E. C. Investigations sending that stock to i dont have all degrees. Big moves in 3m, deer, caterpillar and boeing. Analysts say stocks are getting pricey but profits are catching up. We like the valuish names. Stocks havent gone up much at all. G, he. We like emerson, like itt, rex narcotic. Earnings season isnt overyet. Next week, boeing, lockheed martin, semens and others also add to the sectors story. Investors in wynn resorts take money off the table on a report alleging Sexual Misconduct by founder steeve wynn. That is where we gwynn tonights focus. The wall street journal reported that former employees reported they had been sexually harassed over a number of years by wynn. It was reported he had paid several settlements to a manicurity. Abvy said a favorable tax right and robust sales of its athlete transmit prompted the company to raise profit estimates for 2018. The new guidance came after abvy reported earnings and sales that rose more than expected. Shares rose 1 to 123. 21. And colgate pal model i have said weaker sales and increased pack anging costs cut into motherinlaw margins. The shares were off 5 to 73. 56. Astrazeneca said its inhaler treatment for copd showed significant improvement in patients and hit the majority of its trial goals. The company said it may apply for approval of the medication in the u. S. And europe next year. For now it hopes to have the medication greenlighted in japan and china. Shares up 1 to 36. 63 the hedge fund Pershing Square capital run by bill ackerman has reportedly taken a stake in nike. It bets the Sports Apparel maker will continue to be a dominant player in its space. While the size of the stake is unknown it wasnt change the oregon company. Nike up a fraction. Fedex says it will spend 3 billion on wage hikes, employee bonuses and Capital Investment all because of the new tax law. As part of the move, fedex will contribute 1. 5 Million Dollars to help fund its pension plan. Shares rose marginally. It is time for this weeks market monitor. He says as the Global Economy improves now it is time to invest in Foreign Companies whose stocks are likely to outperform. It is his first time on the. Practice. Lets welcome john merrill of tanglewood total Wealth Management. Welcome. Great to be here, sue. Lets start with your first pick, the vanguard total world stock index. Less the u. S. , meaning minus the u. S. It is an yooeeft. You say this is a great place to stampltd i guess total world says it all. Exactly. If you want to participate in the global stock rally that has been in effect 18 months this is a great place to start. It covers every stock that is not a u. S. Stock. As a building block, for your base for International Investing it is a great place to start. Second one is vanguard emerging market index. Here again you take the idea that its better to be invested in the whole shore front of stocks rather than try to pick the individual winners. Why do you favor this approach . Because some people think that this is the area, emerging markets, where a smart stock picker can outperform the index. You know, tyler, i really don dont disagree with that. I think in the emerging market space that you can. But for most people who dont have the tools and awell manager like ourselves, it is a lot easier to make sure that you cover it and not make some missteps in this area by covering a broad market index. And Vanguard Index is a great index. We own it. We also own accufunds in that area because i definitely agree with you. From the broader approach with the first two eft picks now we are kind of narrowing it down to technology with the i shares technology sector. Basically you say its changing technology is changing every aspect of our life. Why do you like this particular tech sector . Because it covers it from a market point standpoint it covers the whole technology sector. And i think technology really marries well with your International Investing. The thesis of a global stock market rally mainly bows most of the tech giants are centered in the made to. In fact, the broad Vanguard Index veu only has 3 to 6 technology. If you want to own the companies that are really changing the world changing every aspect of it and leading the changes in almost every sector, this is the place you have to do it. John, thank you so much for joining us. We are jealous that you are out in beautiful san diego. But somebody has to do it. Someone has to do night thats right. John merrill with total Wealth Management thank you so much. Mg could up, what three of the finalists for amazons Second Headquarters all have in common. Del technologies reportedly considering going public. The move could help the company raise cash and reduce its debt load. Four years ago, michael del took his namesake pc Company Private in one of the biggest leveraged buyouts the Tech Industry had ever seen. The company also reportedly considering a deal with its majority owned vm wear. The city of Tacoma Washington saw the biggest rent increase last year. According to trulia, rents rose nearly three times the National Average to about 18 hupd a month. Tacoma is only 30 miles from seattle, where Companies Like amazon and microsoft and the influx of worker have helped drive rents higher. Three of the 20 finalists now for amazons massive new headquarters project are in or near the nations capitol. And that has prompted a lot of speculation that Ceo Jeff Bezos who already owns the Washington Post plus a home in town has already made up his mind. For all the regions pros there is no shortage of cons. Scott cohn is in maryland tonight. Montgomery county, including communities like rockville and bethesda s rich and vibrant, joining Northern Virginia and the district of columbia, three amazon finalists within about a 40mile radius of the nations capitol n. A field of just 20 contenders, they have to like those odds. But marylands governor is taking no chances, asking the legislature this week for 5 billion in incentives because just locating near maryland isnt enough. It will have more of an impact on our state if they are located here. And i believe we have a better story to tell. Reporter marylands work force is one of the best educated in the nation with the largest concentration of tech and science workers. Montgomery county is one of the most affluent in the nation. Maryland officials wont say what sites they are offering but one possible location the former white flint mall, a Regional Shopping Center torn down a couple of years ago, replacing a onetime brick and Mortar Retail mecca with the retailer of the future of the not to be outdone virginias governor is pointing to one of the best business climates in the nation and a World Class Work pool. And they have a higher percentage of College Graduates than any state. D. C. s mayor is angling for the prize. We have the talent pool. The livable and walkable communities. The great arts and culture themes that the employ kes say they want and amazon says it wants. Reporter but all the cont t contenders have problems. Chief among them. Infrastructure. Roads are congested and crumbling. Traffic in parts of the region among the worst in the country. And crime and other quality of life issues could make it harder to attract new talent to an expensive place to live. Then again, amazons Ceo Jeff Bezos has a home here, and he owns the Washington Post. The hope here is that he might not mind dividing his time between Washington State and washington, d. C. For nightly Business Report im scott cohn in moth month county, maryland. Cant wait to see. Before we go heres another look at the record day on wall street. The dow rose 223 points. The nasdaq climbed 94. S p 500 added 33. The gains for the week for all three, better than 2 . What a month its been. And its not even over. I know. That does it for us tonight. Im sue herera. Thank you for joining us. Im tyler mathisen. Thanks from me as well. Well see you on monday. This is bbc world news america. 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