>> announcer: this is "nightly business with tyler mathisen and sue herera. split personality. the nasdaq drops while blue chips pop, as investors wonder whether now is the time to lock in their gains or let them ride. new prescription? cvs buys aetna and lays out an ambitious agenda that could reshape the entire health care industry. >> place your bets. the supreme court hears a landmark case that could open up more of the country to sports betting, potentially generating billions. those stories tonight on "nightly business good evening, ever welcome. aisle tyler mathisen. sue her area has the evening

off. best way to describe today's move, moody. the euphoria that saw the blue chip index soar more than 300 points following the weekend's passage of the senate bill, that euphoria was mostly gone by the closing bell. there's a sense investors are to figure out which sectors will benit whi won't from the tax reform. that could be why the tech-heavy e dow jones industrial aver was up 58 points. nasdaq was off 72, more than 1%, and the s&p 500 up for much of the day, was down almost three. despite today's mixed finish, the market rally this year has really been impressive. what s investors do now? mike san tolli takes a look. >> reporter: i and that moment

market when investors are asking to lock in gains or let them ride. the index is on an eight-point win streak and only revenue in nine straight mondays once since 1980. stocks have begin pricing in the expected windfall from a big corporate tax cut and the economic news has been unusually good for months. the strong 2017 rally has also left many investors tilted more heavily towards stock than they plan. is it time to trim back or bet the market can deliver further rewards in december and beyond. december has a well-earned reputation for generosity in years that most resemble 2017, december has produced furse gains of around 2% on average. december has never once been the weakest month of any year. which is encouraging given the worst 2017 was march when the market was down less than a 0.1%. it still makes sense to expect a

less smooth ride for stocks, even if the bull market carries higher still. the tax cut will produce relative winners and loser, and th on a humming economy could have unintended effects on interest rates and inflation. if the market does grow choppy in the coming weeks and months, there's a bright sign for investors. after such a long calm rally as we've had this year, the first sharp pullback is rarely the start of a lasti that's what the history books tell us. i'm mike san tolli at the to new york market exchange sploo cvs has agreed to buy aetna, bringing two big health care .akers in the bi today shares of both stocks were lower. the combined company is widely expected to transform.

bertha coombs explains. >> cvs and aetna's ceos say they have tried to offer better deals through their business partnership, about you now telling they'll be able to offer even more value. it's really the perfect time to bring the two companies together to bring a new platform that can be easier to use and less expensive for consumers and create a new front door to health care in our country. >> t say the so of had called front door would open up more seamless care so employer an won't have to navigate as much paperwork and clinics and cvs's 9700 pharmacies would become a place for basic >> they can ask for some help, get guided through the system. we can make the insurance the back room of the operation. we can waive prior thor sayless, waive co-pays, as people use the

system in a way th effective. unitedhealth has gained market empls by offering an all-in-one medical and pharmacy plan at better prices. anthem develops its own unit, one benefit consultant says the trend could mean employers could have little choice beyond a all-in-one plan. >> you'll have a couple big entities with significant power, and in certain market segments, they may start to make it very difficult to carve out pharmacy. >> it could save them money, but with cvs and aetna, employers and consumers will also want to know whether the clinics will mean more limited networks. >> is care that was potentially going to the physician's office now diverted to the storefront, but certain a question i have as to how it would all pan out as it moves forward. >>cvs is hoping the deal will been proved in the first half, but tells analysts building out that new front-door health care

model could take longer than the first year to really take off. bertha coombs, "nightly business craig garthway joinses to discuss could mean. he's a health economist and asr of strategy as kellogg school of management. good to have you back on the program. have we just seen a glimpse of the future? illustrates i think we are. i think the moves we are seeings by cvs and aetna, and as you mentioned by anthem dropping their pbm and forming their own program, are really signs of a re-coordination. we'll have a different set of firms with different activities they can do to compete in the marketplace. what will it mean for consumers? >> immediately it's not going to mean a lot. i think it will develop over time, but the hope we have is we can offer a better coordinated medical and pharmacy benefits es

we can make it easier to get access. those are the types of things we would see when we join a company like cvs or aetna or seeing what united is doing with it's optum division. >> so what i see -- tell me if i'm wrong here, is insurers and providers getting together so that more of the -- so there are cost efficiencies and so that more of the revenue stays within the ecosystem that they create. in other words, if i buy my insurance through cvs aetna, that plan is going to favor me going to crs's minute clinic and favor i'll get my job at a cheaper price than if i go, quote, out of that ecosystem. is that how it's going to work? >> i think we're seeing

elements. that's part of what we might expect in a move if we're moving toward value-based care or outcome based coverage. it's going to require investments by insurers and by providers to try to get us to really attempt to be purchasing health, as opposed to be performing health care services. there's a lot of worry by each side of that transaction, they might not be the one that gets the benefit. it might flow, say the provider makes an investment, but the insurer is the within that benefits. because of that, we might get a more optimal set of at this time if one firm is doing both services. >> a quick thought here, there any antitrust or department of jue or federal trade commission hurdle that could be an impediment? >> it is a vertical merger. that being said, i've given you

positive. it's also going to make it even harder for new firming to enter the insurance market. this coordinated -- the only way that benefits the consumer, though, is if insurers -- the premiums come down, so we still need a vital and competitive insurance market and really be a trade-off between the benefits we get between coordinating your care with the concerns we have that we don't have a competitive enough market. >> craig garthwait with northwestern's kellogg school of management. >> the dow moved higher today, as part of the senate's tax bill, and now the senate and the outs must reconcile that's two versions and hammer out any differences. ylan mui is on the story tonight. >> republica are now focused on resolving the key differences between the house an the senate bills. the three biggest individual

rates, the house has four while expire after 2025.he corporate house cuts to 20% right away and the senate waits until 2019. the senate also repeals the individual mandate. the house doesn't do that, and it's still unclear how moderates feel about that approach. there are also a bunch of smaller issues that could wind up becoming bigger battles. the senate keeps the alternative minimum tax for both corporations and individuals. it also doesn't repeal the estate tax, and there are different rates for pass-through businesses and for repatriation. the republicans say their bills have similar architecture, and the differences are not insurmountable. however, president tru threw a wild card into the negotiation by opening the door to a higher corporate tax rate of 22% in the final legislation. now, a 20% rate had been one of his red lines and conservatives are still saying they're committed to that number.

the next step in this, a conference committee. the house will vote on members today, and the senate should follow suit soon. most of this process will happen behind the scenes and republicans will likely need right up to december 22nd to get it to the president's desk before christmas. for "nightly business repor" i'm ylan mui in washington. one of the big questions is whether tax cuts will increase overall economic growth and by how much. there's new analysis tonight from a leading group of economists, and steve liesman has that part of the story. >> they estimated positive, but modest effect. there's a significant debate as to how long-lasting the economist will be, on average they see a 0.2% kicker for gdp. at goldman sachs, they see 0.3% for 2018 and '19, but they see it as temporary. john riding also seeing an

impact, but he thinking it will more permanent. supporters think it will increase capital spending which would boost worker activity and jobs, and they like the idea it would -- rebatery atcash from overseas and reduce inefficiencies in the economy. some see the federal reserve having to tighten policy than it otherwise would, as many of the benefits flow to the wealthiest americans, and they're skeptical on the job and wage effects. it is written -- it could look competitive relative to overseas. riding sees a permanent upward shift to potential growth, but goldman says after growth increases in 2018 and 2019, quote -- we note the looks minimal and can actually be slightly negative. one of the big concerns has been about the one to $1.5 trillion

in deficits, and whether it means higher interest rates. rates have been on the rise as the chance for the bill's passage has increased. the market now sees multiple rate hikes as more likely from the federal reserve. for facebook, i'm steve liesman. still ahead, a business battle is brewing over the scaling back of some national the it's supreme court is consideration whether to legalize sports betting nationwide. if that happens, it could mean billions of dollars for states well beyond nevada. hampton pearson rolls t >> reporter: it's not just

tailgating that gets sports fans fired up. it's estimated americans illegally bet $150 billion a year on professional and amateur sports, according to gaming industry analysts. at the supreme court today, the justices appeared ready to overturn 25-year-old federal law that bars all but four states from legalizing gambling on most professional and amateur sports. new jersey governor chris christie spent the last five years and millions of state tax dollars fighting for uphold a new jersey law that would allow sports betting at racetracks and casinos in the garden state. >> new jersey wants to appropriately regulate sports gaming. we want to do it because 65% of the people in the state of new jersey voted they wanted to do it. we have a long history of casino gaming where we've shown ked can appropriately regulate. >> during the over an hour-long argument, justices questioned if

the protection act violated states' rights. justice anthony kennedy said it appeared the federal government was trying to forget new jersey to keep a wagering ban in place that no longer exists under state law. conservative justices kneel gorsuch and samuel alito said the federal government aired by trying to use state governments to carry out federal policy. if new jersey wins and the law is overturned, more than 30 states are waiting in the wings with legislation to legal i'd sports betting, a potential revenue winfault for the states and a new revenue stream for the gaming industry. >> 15 states have already introduced legislation. heck, pennsylvania just passed a law within the past couple weeks that has the regulatory parameters, including an absurd 36% tax rate, so we still have work to do on that front. but the states are lining up. new jersey is extremely well

positioned. >> t justices do have options, throwing out the entire ln the floodgates for sports betting, but keeping part of that law would limit some of the sports gambling operations going forward. for "nightly business report, i'm hampton pearson today president trump announced plans to dramically redue two national monuments in utah. grand staircase escalante created by president clinton and bears ears presented by president obama. president trump called it an important move to states' rights and the people of utah. but kayla tausche tells us it has created a battle betwee. >> grant staircase has been a national month tum, and then it's grown by 13%.

service sector jobs surged 42%. canyon country lodge, which opened in edge -- to meet the demand. we have seen an increase in economic vitality. >> suzanne heads the region's chamber of commerce. she worries the president's decision to pay her back the protected federal land puts her at risk. anywhere from 3 to 25% growth. why would you take that growth cycle and then jump to a declining psych the like coal. >> reporter: in addition to cutting them in half, interior secretary ryan zinke endorsed shrinking from at least six on monuments. the administration's goal, removing restrictions for fishing, mining, ranching, timber logging and cattle

ranching. >> we've seen by the most conservative estimates more than a 30% decline since the crazy of that month moment. a lot of that is because there wasn't enough proper analysis before the monuments are created. >> local residence say less federal land would make -- >> tourism won't just do it. it's bad if this stays a monument. >> r while the business battle lines are clear it's up to congress to draw the new boundaries. it's two senators joining president trump during his speech at the state >> they think the natural resources should be controlled by a small handful of very distant bureaucrats located in . and guess what?

they're wrong. >> reporter: environmental groups could m >> it is bad for business. you're asking us to give up a lot for very uncertain little in return. >> the white house says grand staircase and bears' ears should be open for business within 60 days, but that could be obscured by an already packed aenda on clime and potential legal battle. for notice anybody, i'm kayla it looks like disney is taking another run at 20th century fox, and that's where we begin tonight's business focus. the talks reportedly still remain focused on fox's movie and tv studios as well as international assets. fox news and the broadcast and sports networks are not expected to be part of any transaction. word of the thoughts came out

between -- includes two cnbc apparently comcast, which the "wall street jou" says is still in the mix. shares up nearly fox up almost 3% to 3309. comcast moves . the drug maker astrazeneca says united kingdom's exhibit from the european union could cost the company in extra taxes. the company also said without a new tariff deal with the eu, astrazeneca could face delays which could hurt its ability to conduct clinical tr. and broad com won't take qual no for an answer. after the world's largest maker of smartphone chips rejected the offer, broadcom nominated nearly a dozen directors.

and qualcomm shareholders is said to want the company to engage in sales talk. they'll get a chance to vote on the new directors in march. it's been reported that broadcom is consideration s bids. the chips were down, both of them. the online used car retailer carvana raised $100 million through a private placement sale. the company set it would use the money to drive growth to more customers across the country. carvana shares jumped almost 13%. well, with a major tax overhaul looking more and more likely, now may be the time to rethink your charitable donations. that's because proposed changes may make it harder for some to deduct the value of their gifts. joining us with the details is

sharon epperson. how does this tax plan impact charitable giving. >> one of the ways when you look at the standard detux, what's proposed to nearly double the standard deduction to about $12,000, that may mean people plan to take the standard detux in future years. if you don't itemize, you cannot claim a charitable contribution. if you want to make sure your charitable deduction really counts, then it may be best to kind of front load and put more toward charitable giving this year, it's it's so uncertain about what will happen. >> they haven't taken away the ability to deduct, they've just proposed raising the standard deduction. exactly. >> which makes fewer people itemize. >> exactly. >> what ar curre tax breaks. >> and we should say, of course, this is not the reason you give. you just get the tax break. >> right. >> gemly if you give a tables

contribution, you can take up to 50% of your adjusted gross income, so that deduction is pretty significant. the majority of people give that way, and the way they do it, they may sure they're tracking their donations. that's a key component, to make sure you can get that tax break. make sure you save receipts. anything over $250, you have to explain and document exactly what that's for, and you want to make sure the he charity is a 50 is c 3, a tax exempt on organization. >> and there's some cases where you make a donation or expenditure, part of that may be deductible, and part may not be. there are scammers out there who are note really legitimately charities. how can you tell -- how can you avoid getting scam? >> you want to look at a couple different resources. you want to look at organizations guy guide starred or charity navigator that really vet charities.

check in with the i.r.s. website, and then google. find out, have there been any articles about this company in terms of scandals or in terms of the good deeds the do an make sure you believe. >> s to see you. thank you very much. coming up, switching gears. when you think of suvs you think the ford, honda, gmc, toyota. how about or finally tonight, lamborghini getting into the luxury suv

race. they plan to double its sales by selling a very exp. phil lebeau has mo. >> reporter: this is the lamborghini urus, the italian automaker's first suv going on sale next year. they call it a super spor vehicle. it's also super expensive. base price, $200,000. for that lamborghini promising an suv with lambeau ginni performance wrapped in the finest materials. will anybody really pay $200,000 for an suv? you bet. when mercedes rolled out the g-class it found plenty of buyers willing to pay big bucks. since that bentley has been selling a vehicle, and others have high-priced suvs in the works. global sales have tripled since

2010. even ferrari is looking to build one. where are the super-rich suvs being sold? in the same places where ultra-luxury cars are popular, including southern california, china and increasingly the middle east. fill le bo, "nightly business chicago. wow. that's "nightly business repor for tonight. i'm tyler mathisen. thanks for joining us. have a great evening, everybody. we'll se

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