>> announcer: this is "nightly business big rally on wall street. washington lifts the market as all of the major indexes finish at all-time high. step forward. the senate's tax proposal advances, bringing the upper chamber closer to a floor vote. and digital pills? can sensors in capsules put a debt in opioid abuse? those stories and more tonight on "nightly business good evening, everyone, and welcome. stocks rallied to a record despite a mid-afternoon dip after north korea fired a ballistic missile. we'll have more on that development in just a moment. but we begin with those fresh records on wall street as

investors eyed events in washington like tax reform and comments from the fed chair nominee. the gains were broad. the closing numbers attention getting. the dow jones industrial ave climbed 255 points to 23,836. the nasdaq added 33. the s&p 500 gained 25. investors were glued to three stories tonight out of our nation's capital. we begin with ylan mui on the advancement of the senate's tax reform proposal. >> reporter: the senate budget committee voted to move the republican tax plan to the floor today. and that means the gop is on track for a final vote by the end of the week. this was a critical step because there are still several republican senators who are on the fence over this bill. senator ron johnson of wisconsin says he wants bigger tax cuts for passthrough businesses and senator bob corker of tennessee is worried about the impact on the deficit although he did tell

reporters that a broad agreement with gop leadership to ensure that his concerns are addressed. now, the debate over this bill was interrupted several times today here on capitol hill by some very passionate protesters. they were shouting "kill the bill, don't kill us." that's because this tax plan includes a repeal of the individual mandate and it could also trigger some deep cuts in social services. this is no longer just a tax cut bill. it is also a bill about health caren at the end, this forced republicans to vote more quickly to move the bill to the floor. the fate of the tax plan over the next few days is still uncertain but at least republicans can now continue the process and continue their negotiations. for "nightly business repor. investors also got some clarity on the direction of interest rates and monetary policy when jerome powell, the man who could and probably will be the next leader of the most

powerful central bank in the world, answered lawmakers' questions. steve liesman reports on today's se >> reporter: the more fed chairman nominee jerome powell spoke at his confirmation hearin today, the more the stock market seemed to like what it heard. the 64-year-old fed governor was named by president trump to replace fed chair janet yellen. the more he spoke, the more the s&p seemed to accelerate to the upside, as he indicated he would continue with those gradual policies of yellen. >> we have low unemployment, 4.1% unemployment. we've got strong growth. the very low settings of interest rates that were appropriate during the crisis and after to support economic activity are no longer appropriate. and that's where we're raising interest rates now on a gradual path. i expect that that will continue. >> reporter: powell expressed some belief that the jobs market could run further without sparking inflation and that low inflation allows the fed to keep moving rates up just gradually. bank stocks rallies as the if he had chair nominee supported

regulate relie relief for banks especially small to mid-size banks. powell is headed to confirmation first by the banking committee and then by the full senate. i'm steve liesman for "nightly business r congress also has to pass a funding bill by december 8th to keep the government up and running. but if today is any indication, that might not be simple. a eamon is at the white house. >> reporter: the president began today tweeting out an insult to chuck schumer and nancy pelosi, calling them weak and saying he didn't see an opportunity for a deal with the democratic leaders. they issued their own statement saying they weren't going to come to an event that was scheduled here at the white house at 3:00 p.m. later in the afternoon, we saw the president appearing at that event with two empty chairs side by side in the roosevelt room at

the white house. the democratic leaders snubbing the president of the united states. the president expressing some frustration with that, going on to meet with the two republican leaders from capitol hill who not boding well the meeting. ahead of december 8th, that's the deadline when they need to have a deal cut on government spending in order to keep the federal government from a shutdown. not clear yet whether there is a deal. republicans will need some democratic votes to help them and at least for now, there were no democrats in the room with the president when the negotiations were ongoing. for "nightly business repor" i'm eamon javers at the white house. greg saliere joins us now on why he thinks today could be the most important day of the year for the markets. good to see you again, greg, welcome back. >> nice to see you, hi, sue. >> let's start with why you think today in particular, there

capitol lately, why is parts today so important to the market? >> two really huge stories. number one, a clear sign that we've got a very solid fed chairman who will be confirmed, who is not going to overdo it on rate hikes, he passed with flying colors. number two, you have to say that the tax bill made another important sign of progress. i think we are going to get it. it might still take another a couple of weeks. the momentum behind this tax bill is remarkable. >> it does seem, doesn't it, greg, that a couple of key senators like mr. corker may have found a way to overcome their concerns about ballooning the deficit. >> yeah, it's kind of a rube goldberg scheme, that if the deficit increases, if it doesn't perform as advertised, you could go back and raise taxes in next two or three years. that's kind of convoluted. maybe that will be enough to satisfy the deficit hawks.

whatever it takes, the dissidents will be one over. >> greg, everyone was assuming that tax reform was already in the market. but with the gain and the rally that we saw today, it doesn't appear as if that is the case. >> you could be right. i still think powell was a big, big factor today. but if we get this bill with dramatic cuts in corporate i think there's probably still some investors who would say this is really good for earnings, especially for small cap stocks. this tax bill did pass the senate budget committee which was a key procedural hurdle today by the slimmest of margins, 12-11. you're betting that they will get the 50 votes that they need in the senate to pass something over the next couple of weeks? >> it might take a vote by mike pence to break a tie, tyler. no, i think they're going to get it. they'll have to cut a few more deals. one really interesting angle is more deals could cost more money and the bottom corporate rate

may not be 20, maybe it's 22 or 23. donald trump might not like that. but i think he'll take pretty muchny >> on that note, great to see you, greg, thanks for joining us. greg saliere with horizon capital investments. the rally today was not one of those smooth upward glides we've grown accustomed to it. it hit an air pocket. stocks cut their g at midday after north korea fired a missile that landed off the coast of japan. the markets did recover as the tax bill and comments from the nominee to lead the fed outweighed whatever geopolitical concerns there were. but investors are paying attention to asia. akita fujita is in our studio in tokyo tonight. >> reporter: north korea conducted its latest ballistic missile test, landing in japan's

exclusive economic zone. it flew for 54 minutes, making for north korea's longest test yet. the pentagon and japan's defense ministry both saying this was an icbm and hwould have the range o reach the u.s. this comes one week after the trump administration added north korea back to the list of countries that sponsors terrorism. and it certainly points to the advancements pyongyang has been making in its nuclear weapons program. just yesterday we heard from south korea' unification minister saying the program is developing at a faster pace than originally thought and could be completed as early as the end of next year. back to you. >> thank you so much. ahead, will ups deliver? >> reporter: i'm morgan brennan in louisville, kentucky. and a record shopping weekend to a record shipping season. how the biggest delivery companies are gearing up to make sure your packages get delivered in time for the holidays. that sus

a legal win for the trump administration. a judge today ruled that the white house budget director, mick mulvaney, could remain as acting head of the consumer financial protection bureau. as we've reported, agency official leandra english filed a lawsuit that claimed she should hold that position. consumer optimism is soaring this month, according to the conference board. its latest measure has hit a 17-year high. americans feeling good about their economic prospects. economists pay close attention to the index because the consumer and his and her spending accounts for 70% of economic activity. if consumers are feeling good, economists believe they'll buy more, keeping companies like

ups busy, especially during the holiday shopping season. morgan brennan takes us inside ups' largest air hub in louisville, -- kentucky. >> reporter: if you did online shopping for the holiday weekend, some of those packages could be moving through here. this is the largest automated cargo air hub in the world. during the peak holiday season, 318 cargo planes take off and land here each day. loaded with packag sorted on 165 miles of conves that over the coming weeks will handle double the normal daily volume. ups plans to deliver 750 million packages this holiday season. another record. >> we are expecting a 5% increase between thanksgiving and christmas this year over last year. we're way too early to estimate whether we'll be heavier or lighter than that. i will say we've gotten off to a good start. >> reporter: the stakes couldn't be higher.

after years of higher than expected peak season cost, the company has invested $6 billion, adding a million square feet of facility space, hiring season workers and welcoming three new boeing jumbo jets to the fleet. >> we can use this to help steer our airplanes away from weather, to find out where our aircraft are and divert them to rescue equipment in heavy volume. we might have to launch out of our spare aircraft to rescue that volume as well. >> reporter: we're talking about minutes in terms of efficiency. >> absolutely. >> reporter: given all the planning and spending, ups and its rival fedex say it's time to be better compensated. fedex is adding extra fees for oversize packages and ups is applying surcharges for some residential deliveries during busiest weeks. >> the surcharges are definitely an attempt to change consumer behavior. it's getting you to not want to

wait until the last minute and understand you more for it. they're expenses arguably go up way more than your rates go up. their margins over the last several years are an indication of that. >> reporter: but all the year-round planning can't control one important factor -- weather. meteorologists on staff here at ups are monitoring that around the clock. >> initially our first two into three weeks of our peak season look very favorable for weather. there is some cold air that should filter into the united states in about the tenth of december. that's time we'll have to look to see how it's going to affect the east coast. >> reporter: although the race is on to deliver and not just all of these packages for consumers in time for the holidays, but also for investors. for "nightly business repor" morgan brennan in louisville, kentucky. regal entertainment reportedly in talks with a britis th where we begin tonight's

market focus. reports say the movie theater is discussing a merger with cineworld as more viewers shift their entertainment habits online. box office sales and movie theater attendance has suffered, putting more pressure on companies like regal to improve performance. regal entertainment up more than 7% on the session to 1964. emerson electric scrapped its $29 billion bid for rockwell automation after receiving several rejections from its rival. emerson said it's moving on, it's going to focus on smaller acquisitions. the company said it would consider buying some of general electric's assets if ge looks to sell. emerson electric shares up more than 63%. shares of rockwell up 3% at $197.13. fast food chain arby's will buy buffalo wild wings for about $3 billion, including debt.

arby's parent, roark capital, said the company will operate as an independent brand. buffalo wild wings has struggled to attract diners and investors are hoping for a successful turnaround. bww shares blew higher -- they took wing, how about that? >> there you go. >> by 6% today. they finish at $155.60. nuance communications, which specializes in speech recognition technology, reported better than expected earnings and sales that blew past estimates. the company also gave guidance for the current quarter that topped expectations. shares of nuance were initially higher in afterhours. they ended the regular session up 3% to $15.86. also after the bell, where are maker auto desk said it was cutting more than 1,000 jobs as part of its restructuring plan. auto desk said that move is to focus on investments in cloud delivery. for the quarter, the company reported stronger than expected earnings.

shares initially fell in the extended session, ended the regular day down a fraction to $129.95. americans have been pouring money into mutual funds and etfs since the presidential election. now that it looks like washington is moving closer to delivering tax reform, is there anything in the bill that could impact your money, your investments? brian reid is chief economist at the investment company institute. glad to ha you with us. >> thank you. >> i don't see much in this tax bill that affects investors or mutual fund investors particularly. are there a couple of this to keep an eye on? >> a couple of things. the area most people have their mutual funds is in retirement. there are no major changes to how retirement accounts are going to be affected in terms of their tax treatment. outside of those retirement accounts there's two areas to focus on. number one is the muni bond

area. there are some typf muni bonds in the house and senate bills that may no longer get tax exempt status. those would be for future bonds. >> i don't have to worry about the ones i own or -- is no, nothing that's in your funds that you own now. >> good to know. >> the other part being debated back and forth and the treatment of when you sell a security like a stock or a bond, at fifo, first in, first out rule that you talked about here, would you be required now, if you have two stocks, one you've held for 20 years and one you've owned for ten, would you have to sell the 20-year-old stock or bond first. >> it would have the bigger gain, presumably. >> that's right. right now mutual funds and etfs are carved out of that. i think there's still a lot in play here if they look for revenue. >> as we get into the end of the year, should you make a movie in anticipation of what these final tax things may look like? or do you just sit back and wait

and his what the fin b looks like? >> so one thing to keep in mind is that so many things are in flux right now that you really don't want to react to the debate in washington. but even after a tax bill comes out, keep in mind that a tax deferred is a tax saved. in other words, you don't want to pay a tax unless you have to. and so therefore, don't sell anything or make a move for tax purposes based on the bill. but rather, if you were going to hold that bond or stock or that mutual fund, keep holding it even after the tax bill comes out. >> we're calling this your exit interview. the viewers need to know that brian, who has been a good friend of the program for a long time, is retiring. you're much too young to retire. >> he invested wisely. >> he sold those first in. what is the biggest change that you have seen in the fund investing universe for people like us, like our viewers, over your career there, and has it been for better or worse? >> i think the biggest change

i've observed is the way we talk about investing and the products that are out there to help investors. we now talk about something -- you know, we refer to as asset allocation. how is my portfolio put together, how many bonds, how many stocks. we're less focused on the individual stocks and bonds. that asset allocation has brought in some of the extremes. fewer people holding no stocks, fewer people holding only stocks. we've seen that migrate not only in the retirement space with target date funds which are now a staple of retirement plans. we now see that's the way that financial advisers think about portfolios for their clients and they use many of those same models and techniques. that's been a big advancement, because i think you begin to think about your portfolio as a whole. >> all right. congratulations on a wonderful career. good luck to you. >> thank you very much. appreciate it. >> you bet. prescription drugs play a major role in the opioid

epidemic. according to the cdc, the amount of prescription opioids so to pharmacy, hospitals, and doctors' offices nearly quadrupled from 1999 to 2010. public health researchers say in order to make a dent in that crisis, we have to understand the factors driving it. meg terrell has more. >> reporter: one new tool doctors hope to use in the opioid crisis, digital pills, to provide a better picture of opioid use. they contain an ingestible sensor that can notify caregivers that a medicine has been taken. it sends signals to devices outside e bottody. doctors enrd patie who had broken a bone, prescribing them seven days' worth of oxycodone, that's 21 pills. what they found is that patients on average only actually took six. >> we were able to identify that patient don't really need nearly as many opioids as doctors think

that they do. >> reporter: that's important because data show that the longer a patient's initial subscription of opioids, the more likely they'll still be using the medicine a year or more later. the digital pill technology used in this study made by a company called e-tech rx isn't yet fda approved. but the first similar digital pill by a company named proteus was approved six a the goal there, to make sure medicine are taken as prescribed. >> we know for all chronic medicines, for patients with serious mental illness, nonadherence is just as much of an issue, but unfortunately for them, not taking their medicine can actually lead quickly to a dramatic health care impact. >> reporter: a key question is about privacy. the pharmaceutical companies say the goal isn't surveillance. >> it's an opt-in technology

that's intended to help people. it's not intended to be big brother watching you all the time help of. >> reporter: but gaining more insights into how these powerful medicine are used could be an important step in curbing abuse. for "nightly busin coming up, have you ever heard of giving tuesday? i hadn't. it was today. . applis black friday, mall business saturday, cyber monday, and today, which is giving tuesday. robert at the day focuseothers. >> reporter: giving tuesday is quickly becoming a holiday

tradition. american are digging deeper this year to give to their favorite charitable causes. donations are expected to reach $200 billion today, up 20% from last year and more than four times the level of 2015. now in its sixth year, the global day of giving has gained traction on social media, grown to over a million and a half gifts and spread to over 100 countries. the average gift is still between 100 and $150. but a growing number of billionaires, companies, and non-profits are kicking in matchio ceincrease the impact. the b and melinda gates foundation and facebook are teaming up to match up to $2 million in donations to fundraisers held on facebook by non-profits. facebook is also waiving its 5% fee on donations to u.s. nonprofits. billionaire richard branson and virgin group are supporting efforts to rebuild the british virgin islands and nonprofits from the covenant house to support wildlife and the red cross all have matching

programs. giving tuesday still has a ways to go to catch up to black friday or even cyber monday. surveys show that three-quarters of americans still don't know it exists. for "nightly business reporm after that report, hopefully more people know that it exists. >> maybe we'll go home and write some checks. >> that's a great idea. on that note, that is "nightly business for tonight. thanks for joining us. i'm sue herera. we want to remind you, this is the time of year your public television station seeks your suppor >> and what better night to do it than on giving tuesday? i'm tyler mathisen. thanks for your support. have a great evening, everyb.

>> 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, cooling trade winds, and the crystal blue caribbean sea.