nasdaq record, check. the dow is still trying to reach the elusive 20,000 level but milestone came within striking distance today on a number of blue chip earnings and a rise in oil prices. also helping the rally was a jump in infrastructure-related stocks following the signing of executive orders by president trump. we'll have more on that in just a moment. first, here the closing number. the dow jones industrial average advanced 112 points to 19,112. the nasdaq increased 48. and the s&p 500 add 14. investors are also hoping earnings will help drive stocks and today five dow components reported. a strengthening dollar continues to eat into dupont's earnings. they are hoping to grow by merging with dow kept. but they're questioning how the

plan to combine weed killing and crop seed businesses can help. fourth quarter earnings were up. it is holding firm on its 2017 forecast. the stronger dollar makes its products things like components for smartphone screens, as well as wind and power generation and of course, posted more expensive on global markets. but also helps profit margins on some of them. travelers operating profits hit an all time high but the auto insurance business disappointed. costly personal injury complaints are up and there's concern about the growing number of accidents caused by distracted drivers. johnson & johnson beat estimates but sales fell short. j & j lowered its output for 2017. drugs used to fight arthritis were down more than 3%. that could be a worry for the rest of the pharmaceutical sector. and verizon's revenues dropped too. subscription dropped 61%. it is still growing but much more slowly than before.

verizon is trying on expand into digital media and advertising, offering to buy yahoo!'s internet business but deal according to yahoo! won't close until the second quarter of 2017. a quarter later than expected. of those five dow companies, dupont saw the biggest grain while verizon saw the biggest drop. meanwhile at the white house, the president moved quickly on the promise to bring back manufacturing jobs. this morning he hosted a meeting with the big three automakers with one objective. to build more cars here and to hire more workers. eamon javers reports from the white house. >> president trump has made it clear american business and jobs will be top priority. today the auto industry led the agenda as the president summoned the ceos to the white house. >> it is the long term jobs we're looking for. we're writing manufacturing back to the united states bigly.

reducing taxes substantially and reducing unnecessary regulations. >> speaking to reportes outside the white house, mark fields sounded an optimistic tone saying the auto industry excited the work with the president on tax policy, regulation and trade. >> we just had a great conversation with the president and he is very focused on policies that will grow investment and jobs here in america and american industry, and of course, in the automotive industry which is what we talked about this morning. >> ford recently committed $700 million to upgrade a plant in the detroit area and $2 million for factories in ohio and michigan. gm has been under scrutiny from trump who in a tweet criticized the company for ill porting the chevy cruise from mexico. trump making light of that in a meeting. >> we had a very big push to have plans, many other plans.

you're not being singled out. >> just last week, gm announced plans for 1,000 new or retained factory jobs and a billion in new u.s. spending. so two sectors in two days. manufacturing and automotive, meeting with the president here at the trump white house. no indication from sean spicer, the new white house press secretary, which other sectors will soon be brought in to meet with the president. for "nightly business report," eamon javers at the white house. >> by the way, toyota add its name to the list of companies announcing new jobs in the u.s. the japanese automaker says it plans to add 400 jobs to an assembly plant in indiana where it already builds the highlander. >> phil covers the auto industry for us. so let's put some numbers on this. how many cars are made in the u.s. versus say in mexico? >> in terms of production, the u.s. is far bigger than mexico. i think about 11.5 million

vehicles built here in the united states last year. most of them were sold and bought here in the united states. there you see the other numbers. mexico coming in at 3.5 million and in canada, a little smaller at 2.4 million. but most of the vehicles sold in the u.s. are built here but it is the rising numbers in mexico and canada that has donald trump's attention. >> what is the likelihood that one of the big three will build in the u.s.? >> i think the likelihood of something happening soon is pretty low. in part because the automakers want to see what happens with nafta? why commit a couple billion dollars to build a plant in ohio or michigan or wherever in the united states, when you're not sure what will happen with nafta. you have to decide, is it nafta in mexico where things are changing? the taxes will be coming with import tax? or canada? both? for the automakers, they have to see when hand they're dealt with nafta before they make a

commitment. >> there's the question of the third party manufacturers in the auto industry cox we see more of them? because they're worried about higher costs. might help lower their costs? >> yes. particularly if there is a niche model. a compact car they're building in mexico. what they might do is they might say to an independent contractor, we still want that car. we want it under our particular brand. we'll have you build it. that way, it is built in the united states for domestic industry industry. >> phil, thank you as always. as we reported earlier, infrastructure stocks, specifically materials and industrials, rallied today after president trump signed the executive orders reviving two controversial oil pipeline projects. the keystone is backed.

both stocks rose more than 3% today. jackie takes a look at what might happen next. >> with regard to the construction of the keystone pipeline. something that has been in dispute and is subject to a renegotiation of terms by us. >> he said it was on his agenda for day one and he came through as promised. president trump making a bold statement that he will carry out his promises to be more supportive of energy infrastructure projects that will put americans to work. >> we are and i am very insist tent, if we're going to build pipelines in the united states, the cars should be made in the united states. >> both highlighted the energy boom in this country. the keystone was vetoed by president obama in 2015. a crucial point being denied in december. all that seems to be changing. as these projects get underway,

there are rough lay dozen other pipelines under federal jurisdiction, expected to move forward with more ease. >> the goal is pipelines and faa reauthorization. so many things. infrastructure involves many different aspects will create jobs. >> but there's a lot at stake. these are controversial for a reason namely environmental concerns. an opposition group will continue on rally against them. in a statement, earth justice which treatments standing rock sioux tribe said president trump should brace himself to contend with the laws he is flouting. and the millions of americans who are opposed to these dangerous and destructive projects. we will see his administration in court. end quote. and what will happen to oil prices? now that they have recently stabilized? the risk is they do initially fall. more pipelines need more oil. whether produced here or at home

and abroad. if demand isn't there, we could see prices fall again. we're talking about roughly 12,000 during construction for dakota access. some of those fade when the project is complete. for keystone, nearly 4,000 direct construction jobs and more than 40,000 when you include indirect jobs. but most of those are temporary, too. either way, it is seeming lay win for trump who is checking off items his lengthy to do list. for "nightly business report." >> six of the biggest oil producing states are now in a recession. according to the court, the decline in the price of crude in alaska, new mexico, wyoming, north dakota and louisiana. texas and montana saw a slight increase in growth. barely avoiding a recession. still ahead, the costly decision some cities may have to make.

republicans in congress are laying out an aggressive agenda which includes overhauling the entire federal tax code. today, the chair of one of the more powerful committees in the house warned that congress will not be able to lower the corporate tax rate unless controversial border adjustment tax remains part of the plan. >> there are severe consequences for america if special interests succeed in blocking this provision. foreign products would continue

their tax advantage over made in america products. undercutting president trump's focus on american jobs and growth. tax rates on businesses would have to increase significantly from the proposed 15 and 20% rates. undercutting our ability to make america competitive again. >> as we've reported, the border adjustment would except export revenues from taxation but impose a 20% tax on imports. president trump has called that tax complicated. >> we had an economic report out. sales of owned homes dipped in december. existing home swraels off nearly 3% which was more than expected. despite the decline, the report caps the strongest year for housing since the real estate peak about ten years ago and could it xat the pace of sales may be difficult to sustain this year as prices rise along with

mortgage rates. >> we begin tonight's market focus. the glass and ceramics company which makes products for the automotive and space industries the, led to the this results. it rows to 26.18. lockheed martin beat estimates but the defense contractor's outlook was not as positive. they lowered the forecast and gave earnings guidance below expectations. that sent shares lower. lockheed ended the day down 2% to 52.91. specialty metals maker reported a narrower loss. it was slightly below the targets but still dates the company's turn around was in the right direction. an increase in new orders

hemt lift d.r. horton. the profits and sales grew and helped expectations. the company reafirld its full year outlook as well. sales rose to 64.60. and chinese ecommerce giantal banna said the strength in the business led to a rise in profit and sales. those results easily beat expectations. they said it would raise its revenue guidance. the shares were 3% higher. and packaging servicing company, for more than $1 billion. it is expected to increase. the stocks rose more than 1.5% to 54.05. meanwhile, shares of multipackaging soared by 23% to $17.79. immigration reform as you

probably know was a cornerstone of president trump's campaign. when an undocumented immigrant is arrested for a crime in portland, oregon, he or she may get jail time and not be deported. that's because portland is one of hundreds of sanctuary cities across the country. but that may cost the municipalities millions of dollars. >> reporter: every day, romeo helps more than a hundred day laborers find work in portland, oregon. a nonprofit group that works in immigrant communities, says that most of the clients are from other countries. but he's not sure how many are undocumented. >> no. it's not our job to ask. >> it is a familiar response among civic leaders here. portland is a sanctuary city by virtue of being in a sanctuary state. what does that mean?

sanctuary policies rage. in milder cases, local governments don't ask offenders about their immigration status. stronger policies require municipalities to the ask. it is not just a political statement. some sanctuary cities and counties say they don't want to burden local law enforcement carrying out federal immigration policy. and there are more than 300 sanctuary jurisdictions across the and u.s. they are poised for a showdown with donald trump. in his contract with the american voter, president trump has promised to cancel all federal funding to sanctuary cities. some legal experts stay law doesn't require local governments to comply with federal requests to detain immigrants. >> if the trump administration were to say, we're going to pull

your federal funding if you don't comply, it is putting the cities between a rock and a hard place. the cities have to choose between obtaining federal funding and complying with the constitution and staying on the right side of the law. >> if the president stands by his pledge, new york city could lose out on $8.5 billion in federal aid. san francisco could lose $1.2 billion in federal funds. seattle could lose $80 million in federal dollars and summerville could lose $6 million in federal dollars. >> many cities may remain sanctuary cities. even though they argue it allows criminals to walk free which portland's mayor denies. >> we are not harboring criminals. if someone commits a crime, a misdemeanor, certainly felonies,

people who commit acts of violence, murder, rape, burglary. they'll still be prosecuted for those crimes. >> the mayor says even though city receives $70 million in federal funds, he is notback down. he is the only one. mayor rahm emanuel has declared chicago a sanctuary city and they have issued a guide to help city and county governments uphold their sanctuary policies. for "nightly business report." portland, oregon. >> let's turn to our guests who have opposing views on this nuanced topic. he supports stopping federal funding to sanctuary cities. and you are with the national immigration forum. you say it could represent a step backward. thank you for joining us. i'm going to start with you. clearly mayor emanuel said they

will remain a sanctuary whether the federal funding dries up or not. can you say that for all sanctuary cities? what happens to those who rely on the federal funding? >> this is the imimpact they have and these are living the life because of this critical. when you have a city like new york or los angeles whose work force is 20, 30, 40% of the work force in the city. the last thing a mayor like the mayor rahm emanuel wants to do is to be taken as targeting or profiling an immigration community for their immigration status. it is much more than an important infusion of dollars. it is also the contribution of immigrants to the cities. >> i know that you are opposed to the sanctuary city concept. can you quantify how much, the financial burden of the funds

they may be losing if the federal government decides to withdraw those funds. what about on the local level? what kind of budget impact might that have? >> that depends on which funds are withheld. they are making a political choice here. they are determining that they would rather protect people who are in the country illegally, including people who are here and committing other crimes, than they would getting this money from the federal government to meet local needs. so these are choices that these governments are making. by the way, sanctuary cities were outlawed by congress in 1996. the law is on the side of the federal government. it is up to congress now to withhold those funds. under the obama administration, they were reluctant to do that because the republican leadership claimed that president obama would just veto it. you said this administration, the president will sign and it hold these local jurisdictions accountable. >> do you dispute ali's contention that the role these

immigrants play, to take up maybe 40% of the employment for some of the jobs that some of the locals would not want otherwise. that would be a huge impact on those cities if they were to lose that, the employees. >> first of all, alee is complaining illegal immigrants with legal immigrants. illegal immigrants are forbidden to work under federal law and in many places, they are displacing american workers or driving down wages to the point where american work letters no longer take those jobs. in addition, local communities have to provide education, all sorts of other benefits where people once they get there. so it is already costing them a lot of money. what they should do is let the law to be enacted and for these people to move over and get the american worker an opportunity to take these jobs. >> all right. do you want to respond to that? it is not always people who are in the country legally who are

doing those jobs. a lot of times it is people who are here and undocumented. >> well, this is the thing about the issue. it is very nuanced. when you look at idaho, iowa, south carolina, even small towns in texas. the law enforcement took an oath to serve the community. they don't want to be chasing immigrants out or even worse, immigrants are not reporting crimes to law enforcement because they're afraid of the implications of offering up their immigration status. legal or otherwise. >> to the point of jobs very quickly. >> the point of jobs, a place like idaho. idaho has an unemployment rate of 3%. they are contributing to agriculture. they are a great deal for the american worker in idaho. so why are we removing them from the country? >> there's never enough time and

this is a very, very complicated topic and we appreciate appreciate you sampling it. coming up, will the new man in charge of the fcc give a jolt to the entertainment industry? president trump's choice to lead the federal communication commission could lead to the unraveling of many policies put this place by his predecessor,

ajit pai. he wants to pit them against wentz like netflix and facebook. >> newly appointed chief ajit pai has been a republican commissioner at the fcc since 2012, since then making it clear he'll take a light handed approach and his top priority will be dismanning the rules to support net neutrality. guaranteeing that all video will be treated equally and coil like netflix and google won't have to pay for access to the broad band. >> i'm most dispointed for the american consumer. it will 19 broad band bills go up. that the speeds go down. >> reversing legislation is expected to benefit broad band providers like comcast, at&t and

verizon. they are explaining how the company will be able to cash in. >> the idea that you might be able to charge for quality of service, the speed of traffic. that it might change the ability to price it. and you would be able to charge for that. that back's reality. >> but defenders of that neutrality such as netflix, google and facebook have raised concerns that innovation start-ups will be stifled if companies end up having to pay for their videos to smoothly reach customers. >> what we all hope for is for the same opportunity for the next google and the next netflix. so the next 20 years, all of those companies that are upstarts will have the same access, the same ability to reach the end users. and that's the big concern theoretically. >> this he is expected to take a more restrained regulatory approach across the board including big mergers.

though president trump has expressed opposition, under pai, the fcc is unlikely to get involved in the regulatory part. >> a reminder know comcast is the parent company of cnbc which produces this program. >> that will do it font for "nightly business report." >> have a great evening.

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