something that many traders expect to continue this summer. >> i think we're going to have washington continue to dictate our markets. while participants stand on the sidelines and watch. >> i think we're going to get out of this range we've been. we're going to go to the upside once the us. >> i'd like to be more optimistic but i'm a little concerned. i think when the president comes back into the country we're going to go back into a bumpy politicizing again. so i'm going to lean to the sell in may and go away crowd. >> sell in may and go away is something many traders are thinking about. the summertime has been a modestly weaker period for stocks. according to market analytics firm kenshow the s&p has averaged a loss of 1.2% between may 31 and august 31, and there are more possible catalysts for potential roller coaster moves ahead. >> our expectation for this summer would be more volatility for markets. and there are several different reasons for that. monetary policy normalization, as well as geopolitical risk. we're likely to see more leaks coming out about what's happening with the investigation. we're likely to see a lot of events unfold outside the u.s. all which of can rock markets. >> reporter: but there's a reason why stocks have largely shrugged off political developments at home and abroad. much of the corporate and economic data still looks relatively okay. >> fundamentally speaking, the economy still looks good. we're still generally positive on equities, it's just that we need to get past this period of uncertainty. >> reporter: it's still unclear what will eventually he'd to that long-awaited pull-back for stocks. but markets don't stay this calm for this long very often, which is why some investors are optimistic, cautiously optimistic, that is. for "nightly business report," i'm dominic chu at the new york joe door ran joins us with his outlook for the markets this summer, ceo with united capital. welcome, joe. always good to see you. >> good to see you, sue. >> we heard a variety of opinions in that report, dominic's report about what the expectations were for summer. weigh in, what are you looking for? >> well, i think we'll see some fireworks, actually. it's been really remarkably quiet. what we've had is a series of unusual lows. what i mean by that is we've had unusually low interest rates given the strength of the economy. unusually low dollar given the strength of the economy. what we're also seeing is low levels of confidence that the government, donald trump, the president's going to be able to get through his agenda. yet for all that we've seen the market going higher because earnings have been really good. primarily driven by global companies making money overseas. so what you see is a split market. small companies not doing that well, big companies doing quite well. i think that's going to continue. i think you should expect volatility because as the fortunes of the tax cut and reduction of oversight gets passed through or not passed through, it's going to be cause for market movement, especially because valuations are quite frothy. >> what about the fed? there is the expectation that they will continue to edge up on interest rates. the debate is whether it's going to be in june or whether it's going to be later. how important is the fed to the market equation this summer? >> i think they're not as important this summer because we've got something more important looming, what's happening with tax cuts, what's happening with the health care plan. i think the fed is going to be on hold until that is known. if the tax cuts come through, i think you're going to see an accelerated movement by the fed. but i think they've proven to be very slow to move. i think what we're seeing is the u.s. gdp growth first quarter was very weak. i'm not sure it's going to reach 2% or 3% this quarter. and so they're seeing a lot of improvement in the global economy. but the u.s., the hard data has not been great. they don't have a lot of impetus to move. i think you'll see them moving quite slowly, given the uncertainty we're seeing in washington right now. >> what about the geopolitical risk that one of dominic's people in his report highlighted? is that high on your list of potential risks for the market? or does it fall somewhere lower down on the list given the earnings performance that we've seen and other factors? >> that's actually remarkably low. the risk if europe has certainly waned. we've seen the elections in holland and france, turned out to be global election that were good for the economy. and what you're seeing is there's a terrorist cost already priced into the market. you saw what happened in england, did not reflect in the stock market very much at all. what you're seeing is priced in a certain level of uncertainty. i think it's going to be very much about politics in washington. that could swing the market a lot because of some of the incentives being created. i would say to people, i'd rather you spend your summer on vacation than worrying about the market, because nothing you do is going to change whatever happens to the stock market. >> all right. so given that, where, if you are looking for opportunity and before you go off on that vacation you want to allocate some cash, where would you be putting it to work? >> the first thing is make sure your overall allocation is appropriate for your risk level. because where we've seen when you see big moves in stock market, as we've seen in certain areas, you can get out of balance. so what we say to people before summer is make sure you're allocated the right way. the second thing is make sure you have exposure to the international markets. they are growing quicker than the u.s. they are doing well. they're doing very well in a global context. so large companies, if you don't want to invest overseas, larger companies have been doing much better and continue to do so with a weakening dollar. i would just encourage again, make sure your core allocation is right, invest with a view to having global exposure, and then i would not be too aggressive with fixed income. so shorten the maturity because at some point interest rates will start going back up again. >> joe, thank you so much. joe duran with united capital. memorial day weekend is traditionally one of the strongest weekends of the year for auto sales. it's also the start of the with summer sales season for new and used dealers. this year the best deals are expected to be with used cars and trucks. phil lebeau has more on what's hot on the l >> reporter: auto dealers love to say, there's never a better time to buy. right now they might be right. >> i think it's a combination. what we know is inventories are high, incentives have been tracking high. i think that right now is a good time to buy, period. >> reporter: for that you can thank the glut of used vehicles being auctioned off to dealers who will turn around and sell them to people looking for a model with relatively few miles. that's because many of them are coming off three or four-year leases. in fact, the boom in leasing, which was fueled by lower monthly payments, is one reason annual auto sales climbed to a record high last year. and while demand for new vehicles remains relatively strong, the residual values of used cars and trucks are under pressure which will hold down the prices for many used vehicles. >> from the consumer standpoint, this isn't such a bad thing. it's going to give them a great opportunity to buy these great certified used cars. it just may clip a little bit of where the new car volume we would have expected it to be even a year ago. >> reporter: the question remains, if you're looking to buy, will the best deals be now or later in the summer? >> i expect there will be a lot of deals, especially as we head towards the end of the summer, and there's a lot of model year sell-downs, 0% financing during that time, and consumers really like that. >> reporter: those 0% financing offers are not going away. especially when it comes to mid-size and full-size sedans which are generally seeing greater deals than trucks and suvs. phil lebeau, "nightly business report," chica if you were on this road this past weekend you may have noticed it was more congested than usual. even though gas prices are slightly higher than this time last year. jackie deangelis takes a look at whether the pickup in traffic is expected to continue throughout the summer. >> reporter: as americans celebrate the unofficial kickoff to summer they also spring into summer driving season. aaa is projecting the highest memorial day travel volume since 2005, even with higher gas prices than the last few years. >> 39 million americans traveled over the holiday weekend. and that's about 1 million more travelers than we saw last year. and it's the highest number in more than a decade. >> reporter: the price for a gallon of gas is 10 cents higher than 2016, but consumer confidence is also higher. >> we definitely are seeing that consumers are much more confident in where the economy is now. we see that personal income is up. we also see that the unemployment rate has dropped significantly. and so there is additional spending money in consumers' pockets. they are more confident this year. that results in more travel, not just for summer but all through 2017 so far. >> reporter: it's not just the open road calling. air travel is projected to be up too more than 5.5%. almost 3 million salt lakers will choose to fly somewhere this weekend. almost 2 million will choose boat, train or bus. and this is just the beginning. fourth of july tends to be the peak of the season. oil prices and gas prices can both climb till then. >> oil prices could easily top $60 a barrel again. which would take gasoline prices right now up another 25 to 30 cents a gallon at least. >> reporter: even the perfect weekend may not be perfect. with every road trip comes risk of a breakdown. more motorists means more than 330,000 rescues for stranded travelers as well. hopefully you won't be one. for "nightly business report," i'm jackie deangelis. still ahead on this memorial day, meet the small business owners who are giving back to those who defended our country. but first, some advice from facebook's sheryl sandberg to this year's graduating class. >> build resilient organizations. speak up when you see injustice. lend your time and your passion to the causes that matter. my favorite poster at facebook reads, "nothing at facebook is something else's problem." when you see something that's broken, and there is a lot that is broken out there, go fix it. your motto demands that you do. it's memorial day. a day the nation remembers the people who died while serving in our country's armed forces. tonight we will introduce you to some entrepreneurs who are giving back to those who defended our country. we begin with the story of two sisters living in denver. one a former army captain who got the bright idea to make fashion handbags and accessories out of durable one-of-a-kind american military-grade materi >> it's lined with the bdu camo. >> reporter: imagine helping to launch your company while on active military duty in afghanistan. then again, emily nunes cadnes makes finding time to do the impossible fashionable. >> i actually designed our signature tote bag when i was a second lieutenant in my basic officer leadership course. >> reporter: they grew up in a military family. emily, rotc student, was a senior at vermont's middlebury college in 2012 when she asked betsy about making a tote bag using material from an old army tent. >> i could definitely see the wheels turning. i just started asking her questions. what would it look like? why do you want to make one? who's going to make it? >> reporter: within days they began shaping a business plan. their mission? repurposing military surplus materials to create a is stainable product line, one that can also sustain careers for military vets. >> i also heard about challenges around veteran unemployment. those were really memorable conversations. >> reporter: betsy had already been working in e-commerce. but it was their mom who stitched together the first prototype tote bag. emily had deployed to afghanistan by july fourth weekend in 2013 when their company sword and plow began selling three products -- the tote, a rucksack, and a messenger bag. they've made more than 25,000 shipments since. they're made in the usa. the products have used more than 30,000 pounds of military surplus. >> anything from shell trap tents to parachutes to canvas to aircraft felt and insulation. this is the ecu camouflage, the uniforms i started out wearing. >> reporter: even material used to make american flags. >> there was a lot left over. it's a great color. >> reporter: five of their american manufacturers are either veteran owned or patly staffed by u.s. vets. in kentucky, army veteran and entrepreneur shanna roddenberg makes their line of hand-hammered jewelry out of 50-caliber shell casings. sword and plow supports 65 veteran employees. >> for a lot of people it is a struggle to find where they're supposed to be after they serve. >> reporter: laura keenan came on board after 11 years of active duty, including 15 months in iraq. the former army major still serves with the national guard. but since meeting emily and betsy at a white house event in 2015, she's been helping them give civilians a better understanding of the military. a gap many feel has widened over the years. >> someone complimented me on my jewelry. we had a thoughtful conversation about my service in the army. >> reporter: each product -- handbags, pouches, toiletry kits, camouflage travel bags, priced from $19 to $360, has its own story. >> we just got some parachute material which i'm really excited about. being a former paratrooper. >> reporter: added bonus, sword and plow has donated 10% of its profits four years running to organizations that support vets. >> every business does have an impact. we think there's a way to do things right. and the right way to do things. and we're really excited to be living and working at that intersection. in the bible the term "hammer their swords into plowshares" refers to the concept of putting military technology to civilian use. and sword and plow, the company, just won a $25,000 grand prize in the fed ex small business grant contest. emily and betsy say that money will help them hire another veteran and they are looking for a logistics expert to help them with inventory management. military veterans own roughly 2.5 million businesses in the u.s. vets have started companies like walmart and fed ex, but one ex-marine in nashville is making it his business to give back to vets and their families full-time. >> reporter: travis mcbay considers himself lucky. as a marine he was chosen for the presidential honor guard. serving in the late 1980s and early '90s. his best friends weren't as lucky. richard gaston went on to become an indiana state trooper but was killed in the line of duty. thomas ranjean, policeman and army reservist, was called to active duty and died in afghanistan. >> it was devastating. you go through those emotions when you lose someone. grief, anger, guilty for not being there. finally i was inspired to do something. >> reporter: he spent eight years in the marines, then 15 working at a tennessee tire factory. on the side he dabbled at home, making his own vodka. he dreamed of selling it and donating money to causes that help military veterans. but why vodka? >> vodka you can make today and sell tomorrow. you don't have to age it. it's gender neutral, it's seasonless, and it outsells all the other spirits combined. >> reporter: he spent over a year and about $80,000 tweaking bottle designs. a sales pitch. and his corn-based recipe. he says corn makes a smoother vodka, but getting his hero's vodka into stores was no simple feat. so he called a local expert, robert lipman, whose family founded the first distributor of jack daniel's back in the 1930s. >> robert actually answered his phone, he said i've got 100 different vodkas in my warehouse but i'll give you 20 minutes since you're a veteran. >> reporter: 20 minutes was all it took. >> what drove me is the memory of my two friends. if they can give their life for this country and all other men and women that serve every day, i can try and start a business and do this. >> reporter: lipman was hooked. he invested in heroes, betting the story would sell. heroes vodka went into production on ved rans day 2011. 11/11/11. early 2012, 300 nashville retailers and restaurants began selling it. now available in 15 states, heroes sells for about $15 a bottle. >> when i first spoke to travis, i said, man, you're climbing a pretty steep hill. >> reporter: in 2013, leonard phillips became the first new york city retailer to carry heroes. >> he was not going to be deterred. he said, i'm going to do this. and i said, well, you've got my support. >> reporter: 15,000 cases and close to $1 million in sales later, heroes is already donating. nearly $60,000 so far, mostly to amvets, a nonprofit chartered by congress to help american veterans and their families. and while his story sells, he's heard from a few detractors too. some say he's exploiting his military background. others make him painfully aware of the alcohol issues faced by so many vets. >> we're just like anyone else. some people have a problem with alcohol, some people don't. i believe in freedom of choice. also i tell people, if you have a problem with alcohol, i don't want you to buy my product, period. >> reporter: he was named business veteran advocate of the year by the veterans association, a new honor. >> never start a business just to make money, start a business to make a difference. ch. >> heroes plans to donate 10% of its profits. mcveigh, who wrote a book about country sing hoarse serve in the military, hopes to have heroes vodka for sale in 30 states by the end of the year. he's entering as we mentioned a crowded marketplace. there are a lot of vodkas but his price point of $15 a bottle is moderate. despite efforts by both the government and private sector to hire more of our u.s. military veterans, many are still without jobs even though the unemployment rate for vets fell about 7% last year. the jobless rate among them is a percentage point above the rate for civilians. dan goldenberg, executive director of the call of duty endowment, joins us to talk about this. welcome dan, nice to have you here. >> thanks so much for having me. >> why are there issues for so many vets to find a good quality job? >> well, you know, the problem is that veterans are facing some headwinds that we haven't seen in the past. in fact, the bls data that you were referencing paints a cheery picture in that the veteran unemployment rate appears to have dropped below 4%, but that doesn't jibe with reality on the ground. what we're seeing what we saw last year, 23% increase in vets seeking help finding jobs. in the first quarter this year, we've seen an almost 80% increase in demand. so what's going on here? we think it's fund a.m.ally the fact that the bls numbers are based on a simple question that's kind of not revealing of the true situation. the question i'll read you, last week did you do any work for pay or profit? that's it. so obviously that question doesn't talk about the quality of work. and that's really the problem. our veterans in careers where they're making sufficient funds to support them and their families. we think the answer is, unfortunately, off then and more and more, no. the problem shifted from, do you have a job? to, you have a job, two jobs, but you can't pay the rent. >> so it's a quality issue as well as a quantity issue. >> absolutely. >> what about retraining? as i understand it, it's easier for officers to find employment after they leave the military than those who are noncommissioned officers. correct? >> yes. so unemployment for veterans is just really not an officer problem, it's especially a young junior enlisted problem. so these are very qualified people, incredibly well trained. in fact, really technical experts with tremendous leadership and managerial experience. really unlike that of their civilian peers. but they have a really hard time translating that often and communicating that to employers. showing them how that career that they've had already could be valuable and applicable in the civilian workplace. the organizations that we support are really excellent at doing that. helping these junior enlisted folks explain and make their experience relevant. now there's always a group of veterans who say, hey, i turn a wrench in the air force but that's not what i want to do in the civilian world. to get to where they want to be they have to get a specific skill. there's great programs like the post-9/11 g.i. bill, and onward to opportunity, as two examples that help vets get the education and training they need to do those roles. you're doing great work, thank you for sharing your thoughts. dan goldenberg with the call of duty endowment. coming up, the big-budget movies the hollywood studios are going all-in on this summer. first more big-name advice for this year's graduates. dream big. and then dream bigger. a more innovative dream. a more inclusive dream. all of you will preserve and enhance the promise of america. the promise that propelled me out of public housing. the promise that will propel you forward regardless of the color of your skin, your religion, your gender, your sexual orientation, or your station in life. memorial day weekend is the unofficial kickoff to summer. in hollywood it kicks off the summer blockbuster season. julia boorstin tells us the flicks that tinseltown is betting on thi. >> reporter: the summer movie season is the most important for studios. generating over 40% of their annual revenue. >> raise that sword! >> reporter: it got off to a weak start with big-budget bomb "king arthur" and disappointing performance of the sixth "alien" film. universal's third "despicable me" and disney's "cars 3" are expected to be hits but that isn't always the case. >> usually it's the law of diminishing returns. what studios try to do is infuse these newer installments with new blood, whether it be actors or new points of view, new directors, to try and bring back the originality and the excitement that the first films instilled in the audience. >> reporter: some franchises are much older, including the fifth "transformers" movie and the sixth "spider may be" movie which could be risky after a dozen sequels last summer fell short of expectations. the threats to the movie business are bigger than ever. a growing range of high-quality entertainment options at home. not just on tv but also streaming on netflix and amazon. and movies can fail faster than ever thanks to social media. spreading word of a bad movie like wildfire and keeping consumers home. so which studios have the most at stake? warner brothers "wonder woman." opening june 2nd, voted the most-anticipated movie of the summer according to fandango and will have ripple effects on other dc comics films. >> the success of "wonder woman" has long-term implications. batman, superman, suicide squad, did not get good reviews although they got good revenue. but if "wonder woman" can get good reviews and big revenue, that bodes well for future releases that are coming. >> also looking to bolster a family of characters, universal has its "mummy" remake to drive its dark universe of monsters. and fox is aiming to keep its "planet of the apes" franchise running. perhaps most important, how new original content performs such as warner brothers "dunkirk" and sony's "baby driver." even with an uncertain summer mkm's handler says the box office could hit a new record this year. for "nightly business report,t, i'm julia boorstin in >> thank you for watching this special edition of "nightly business report." i'm sue herera. we'll see you right back here to. >> this is "bbc world news america." funding of this presentation is made possible by the freeman foundation, and kovler foundation, pursuing solutions for america's neglected needs. >> planning a vacation escape that is relaxing, inviting, and exciting is a lot easier than you think. you can find it here in aruba. families, couples, and friends can all find their escape on the island with warm, sunny days,

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