this is "nightly business report" with tyler mathe sorks n and susan geary. the multi million-dollar portfolio she manages with jim kramer. you can learn more at the street.com/nbr. >> tricks and treats. october started with tricks and ended with lots of treats. >> scary thought, chevron and exxon seeing past estimates. but what happens if oil prices keep falling? our market monitor thinks the consumer is feeling strong. he's got three stocks that should benefit. all that and more on this spooky

halloween friday october 31st. >> good evening, everyone. well, nothing spooky or scary about this halloween friday on wall street. both the dow and the s&p 500 surged to record highs this friday and posted gains of 2% or more despite all those wild swings. after today's wild rally, investors can thank investment bank for the stimulus plan. also helping, some strong economic data right here at home. the shoppers index in the midwest rows more than expected. consumer sentiment hit its highest level in more than seven years. even though consumer spending fell last month for the first time since january, personal income rows nearly 1%, the biggest increase in more than six years. so add it all up, and it was a blockbuster day on wall street. the dow skyrocketed at almost 200 points, closing at 2,390.

the s&p added 23 to the new high of 2,018. looking at the scorecard for october, the dow was up 2%, the nasdaq jumped 3% and the s&p added more than 2%. bob pisanti has more on this month's tricks and treats. >> october is traditionally a weak month, but it hasn't turned out that way. the s&p ended the month up 2.1%. so it was a pretty strange month, almost like two months in one. the first part ended with a sharp pull-back that we haven't seen in some time brought on by fears of a slowdown in europe and a mild panic on ebola. the second half saw a sharp snap-back as ebola ebbs. last night the bank of japan announced they would expand their stimulus program by buying more bonds, and the japanese government pension investment

fund, this is the world's largest pension fund, said they would dramatically expand their buying of japanese and international stock. well, that ignited a global rally. japan closed at a 7-year high. the dow industrials and the s&p 500 closed at an historic high as well. what will happen for the rest of the year? most traders believe we will keep rallying at least until the end of the year. now, why? november and december are traditionally the first and second biggest months of the year. most companies stopped or halted buybacks early in the season in october. but the most important reason people believe the rally will continue is the u.s. economy continues to improve, albeit slowly. we have the best economy in the world, and everyone, including the europeans, are clamoring to get in. for the moment, there is no other place to put money. for "nightly business report," i'm bob pisanti at the new york

stock exchange. a sharp decline in oil prices this month, closing at $80 a barrel. they managed to increase profits the last quarter, so how did chevron and exxon mobil do it? martha coombs has the story. >> exxonmobil was up three and a quarter. the two giants don't expect overall profits to take a hit in 2014 despite falling oil prices and they plan to maintain production levels. trader alan grisanti says for now they can. >> it depends how long oil prices stay at low levels. if it's a sustained period, say, six to eight months, then you'll have a harder time with production. >> the fact they've collapsed over the last four months has put pressure on oil producers worldwide. but for integrated oil firms like exxon and chevron, cheaper oil means lower costs and better

profits on gasoline production. exxon's finer units rows 36% during the quarter even as prices at the pump came down. >> right now the advantage to the consumer far outweigh any disadvantage to the oil companies. >> they have another advantage whether to lower crude prices, the boom and shale oil production. efficiency and improved boom prices means they can still profit in 2015. >> there are low cost and high cost shale out there. the average is somewhere around $80 a barrel. we argue we'll have to get down in the second quarter to $70 a barrel. >> production costs are higher and there is less flexibility to try to combat falling prices. >> they only have one card left, and that is to cut reduction. i think they're afraid to play

that card right now because that might not be the price cut they need. >> there are rising calls within the cartel for a cut when the group meets at its next meeting end of november. bertha coombs, nightly business report, new york. >> with oil prices down, prices at the pump are a lot lower these days. according to aaa, the price for a gallon of gasoline hit a new low today. down a staggering 33 cents just in the month of october. now, this may be hard to believe, but the average price of a gallon of milk in september was $3.73. >> you don't get as good mileage with milk, though, i found. let's turn to john manley to find what he expects to do over the next few months. john, welcome. is it clear sailing between now and the end of the year for equities. >> there's never clear sailing,

but the thing that made the market go up in the last two or three years is in place. we still have the common fed, we still have earnings coming in that are okay. it's a pretty simple formula, actually. >> talk to us about the midterm elections. it seems to be the next big event on the calendar. it doesn't seem like washington will be much of an issue, gridlock will continue. is that a positive over the next few months? >> it's not a negative. i think it's a one-day issue one way or another. when it happens, i doubt they want to lose the house and president obama will still be there. it changes something by saying something is moving in a certain direction, and people may take party heart in that, but i don't think it will be an issue. >> do you think stocks are the answer in the near future? >> i do. if you think about it, you're on the same side as the ceo if you own stock. the baby boomers in the next

five to 10 years are at the beginning. >> what are you telling people to buy? what are you telling your clients? >> we buy industrials at this point in time. we think it's the economy phase, back the other way around, and it's been a cheap market for two or three years versus the u.s., so i think they'll rush a parent's fear possible. >> what about japan? would you be nibling at any japanese stocks. that market had the most expressway. >> i'm more poo that i'm negative. i think they will mix it no, but it is a very tough row for them to hoe at this point in time.

they would have to. and a. >> john, if you had been on the program a few weeks ago, we would be asking you about all your marriage. we're talking bsh what should the investors be looking for, sort of the red flag. >> what makes it go up may make it go down. i'm looking at res nears, but that's. i think they will get better. there's talz psychology wasn't dead to the u.s. spoupd only qe yerks took it away and they'll be back. >> john, on that note we'll leave it there. john fargo, well managed funds.

>> our market monitor betting big on the u.s. consumer, and he has three picks for the portfolio. a tragedy today. one pilot is dead, another injured after a virgin galactic tourist spaceship exploded during a test flight. there were no passengers on board. now, the aircraft known as spaceship 2 blew up after igniting its rocket motor, and just as it was released from the plane that carries it to a high altitude. company founder british billionaire richard branson says he's working with authorities to determine the cause of the accident.

some of the biggest names in casino gambling are ready to roll the dice skpex up and doan massachusetts. they said they could derail those plans with a referendum vote on tuesday. could it go bust before the first poker hand is even dealt? james moore has more from springfield, mass. >> reporter: on two run-down plots of land at opposite ends of massachusetts, two of the world's largest gaming companies are betting they can make a killing unless voters decide otherwise or can figure out what they're deciding. >> i think that's part of the problem. >> correct, it is. >> mgm reports and wynn have won licenses to build the first casinos in massachusetts, promising thousands of jobs and hundreds of millions in revenues. but opponents are asking voters to repeal the law allowing gambling with question 3. >> we need the 3,000 jobs. we want the 3,000 jobs. >> reporter: gaming companies

are now spending big to defeat the plan. mgm has already invested $40 million, preparing for an 850,000-square-foot mixed use development which will go here. >> three years ago, a tornado ripped through this neighborhood and the mayor was afraid it was the final death knell for springfield. >> just as it was time to turn out the lights on the resiliency of the people of springfield, the exact opposite happened. we rows up and mgm put us on the map. >> it will take a little bite out of connecticut and rhode island, and that's by design. but there's a local population who wants their own resort, wants their own facility. >> steve wynn thinks he can turn an industrial neighborhood outside boston into a world class organization. >> how much is it going to cost you? a bi >> a billion six. >> wow. nothing is cheap these days. >> steve wynn is a brilliant, brilliant guy, and i admire all

he's able to do in the gaming industry. >> across the state line in connecticut, robby butler is chairman at the fox casino. a quarter of his business comes from massachusetts and he's hoping the database on locals help fight off the big boys from vegas. >> we have the advantage of knowing who those patrons are, knowing what they want, knowing their likes and dislikes and getting them back on the property. >> massachusetts voters walked the casino, but that might mean voting no on 3 and that might confuse people. >> no means yes on the casino, correct? >> that's correct. no means yes and yes means no. got it? >> yes. >> reporter: betting that voters on tuesday can figure out that yes means no and no means yes could be the biggest gamble of all. springfield, massachusetts. wall street cheered in its earnings sending shares higher and that's how we begin tonight's market focus.

three top investment firms all hiked their price targets on linkedin after the company's profits and revenue b estimates. shares surged to $222.96. the construction plan may be paying off and that gave a boost to its stock. the company posted an operating loss in its second quarter driven by strong sales of its playstation 4 console and video phones. shares popped almost 6% to $19.82. honeywell is upping its dividend. they offered to up it to $2.07 a share. shares rows a fraction to $96.12. learning that expedia soared 60%, shareholders dove to buy that stock. third quarter profits benefited

from increased hotel bookings. shares were up more than 5% at $84.97. the bud brewer said third quarter profit was higher because of strong cuts in sales and other markets. they said they think profit growth should bubble up soon. shares were volatile but ended up higher. drink the beer, don't drink the clorox. it edged higher after reporting sales of top consensus. they said the strength was in its household division. the stock was up 90 cents to $99.50. they posted strong sales due to its arthritis drug. the company hiked its four-year forecast and said it could deliver long-term growth without developing into a merger. it called off its planned purchase of shire

pharmaceuticals. a gs jerion pharmaceuticals reported a loss. shares plopped 40% or $14 to $20.19. our market monitor guest tonight says the american consumer is guiding his investment strategy and where stocks go from here. he's jim lowell, chief investment adviser. welcome back to nightly business report. >> good to be here. >> let's start talking about your consumer scene. we've seen a lot of the consumer numbers recently have been on the posi side, but talk us through your thinking about the consumer and the impact on the stock market. >> so we've been fairly bullish on the u.s. consumer year long, and any time we see significant selling in the markets, we just go back and check the cross-fundamentals of spending, saving, the availability of

credit. we're a consumer-driven economy. as long as the consumer fares well, we, too, fare well in the markets. we feel that's true going forward in the new year and beyond. >> soft doesn't worry you at all, does it? >> not at all. down 2% of the spending number. even at an offset despite the fact it's a backyard, not a forward-looking number. >> apple is at the top of your list. tell us what your interest is there. >> well, brand power par excellence continues to drive that stock price higher. when you look that it's the last round of earnings report, we saw nearly 30 million iphone sales and nearly a week and a half of those sales were related to the iphone 6. we saw imax.

it's really a stellar number. they now have the highest level of desktop market share since 1985. and they were. apple is doing fine with its core business. that set the stage for earnings. >> they expect an 11% increase in december sales, but add into that the fact that gas prices have gone down demonstrably, 20 to 25%. that's good for their bottom line. if they think top line movement it going to be better and the bottom line moved, i think the u.s. set the stage for a fairly good rally to year's end. >> visa was just doing fantastic. it closed today at $241 and

change. if someone were to buy that stock today, how much up side can they expect? >> i would say all these stocks, without talking about it, i expect a 5 to 10% run by year end. visa is what you guys are expecting to. then they started the all three correlate fairly well to the u.s., consumer. >> i guess the payments have to be processed by somebody, and it might as well be visa, right? >> carl, i think you're exactly right. there are also stress and strains whether it's cash or the currency which actually has to be delivered. the big proponent hinds my belief that it will will be a

little bit merrier. >> we'll end on that positive note. jim, have a great weekend. >> thank you. >> jim lowell. the scary sums people are piling up as they go out this weekend. the new york city marathon takes place this sunday, and as the world's largest, it provides a big economic jolt to the big apple. and road races, big or small, continue to be a growing business. mary thompson has more.

>> after the starting gun goes off in staten island, over 50,000 runners and wheelers will traverse the 26.2-mile course through new york city's five boroughs. the marathon on sunday a memory for the athletes and for new york city as well. a study by the new york road runners club found the race generated $340 million in added tax, hospitality and other revenue in 2010. big cities continue to remain big business, says runner's world molly o'keefe. >> people make them a destination race. >> during the 34th new york city marathon, the race's 1 millionth runner will cross the finish line. it draws runners to the site of the air b and b. >> what we think will happen with air b & b, is it provides a

better option for people, and we hope to see more friends and family. >> half a million dollars is the winning purse. but the real money is with sponsors like power bar, who see his appeal to the running faithful. >> we don't just sign up because they tell us to sign up or -- it's more that they believe what i do and i believe what they make. >> these days, big races can also come with big threats. with runners in the country, it's a boost for some but not the city's mayor. >> i've said over and over, there is no alarm for this city. >> a city that's drready to run. i'm mary thompson, nightly business report. for some it's looking like an early black friday. amazon is moving up the free shipping cost for the entire

month, offering two new shopping deals every day starting november 22nd. walmart plans on discontinuing prices on 2700 items as well as shipping on its top 127. let's remember that tonight is halloween. but this holiday isn't just about candles and skumz anymore. some people are spending big money to make their homes look positively spooky for the big night. >> reporter: halloween has become big business, especially among wealthy homeowners looking to outscare and outspend their neighbor. the total spending on halloween this year expected to top $7 billion, most of it in costumes and candy. but home decorating has become one of the fastest growing segments. and we're not talking scarecrows and a few pumpkins on the porch. today's mansion owners are hiring professional companies,

bringing in stage lighting, actors, broadway sets and sound systems. the ceo and founder of cliffhanger productions in new jersey is one of the top halloween decorators to the rich and famous. this house in alpine, new jersey is being turned into a scene from "the walking dead," with actors playing zombies, a hearse and lots of people. there are going to be hundreds of trick-or-treaters here and we're going to scare the life out of them. >> more than 2,000 trick-or-treaters came here this year. this will become a scene from "the walking dead? ". >> beside giving candy, it's all part of giving back to the community. >> we spend a lot of time with the community, we've coached the baseball teams.

we've done this since they were little. it's just our way of having fun with the town. >> they also do. >> this year he's turning his foyer into a scene "zombie" is a bigger trend. dead is just in. >> and talk about scary pricesp. take a look at this stash that john klein is getting ready to hand out tonight. a great holiday for new jersey's deck rarorators and dent tiss. >> our next door neighbor used to go all in on this stuff, and it was really scary. people were afraid to go.

>> personable anchors, dead people. see you monday. nightly business report has been brought to you in part by thestreet.com, featuring stephanie.com who shares her in sights with action works plus, the multi-million-dollar portfolio she manages with jim kramer. she took to be the streets.

gwen: elections are just around the corner and much is at stake. the contenders, candidates and what comes next. tonight on "washington week." >> i like to complain and i want to feel like i have the right to do so because i cast my vote. >> there's some people that need to be out of office and others that need to be in office. >> it's always about the elections, but the season seems to be longer and longer every year to me. >> voting has already begun and tuesday will tell the tally. will the republicans take the senate? >> the president has the playbook and harry calls the plays. let's take the playbook away. >> will gwen: will democrats push back? >> when you step into that voting boot you have a choice to make. it's not just between candidates and parties, it's a choi