business report" with bill griffith and sue herera. mixedma ets. the dow climbs, but the rest of the market falters as the bulls struggle to gain momentum. rule role back. the senate votes to ease banking rules, marking the first rewrite of wall street reforms enacted following the global financial crisis. the sale of the sentry. a rare look at the rockefeller family collection, which will be auctioned off potentially for record amounts. those stories and moreig t on "nightly business report" for thursday, march 15th. good evening, everybody. a tufg war too place on wall street today. there wasn't one thing that drove stocks but itead many, sending them up, and down, and back up again. keeping a cap on gains today was

a report fromhe "new york times" out midday that said that special counsel robert has subpoenaed the trump organization as part of hisru ia investigation. then there was the announced elimination of a key tax benefr some pipeline companies by the federal energy rulatory commission, and that sent shares of energy companies south. but in an interesting turn events it was trade talk that helped lift some sectors. when all was said and done, it was the dow that was the aleppo gainer among the major indexes today. advancing 115 poine to 24,873. sdaq lost 15. the s&p was down two. >> industrial stocks gained today, when the white house ed vier played down the rick of trader with a. peter in a vro the director of the wte house tradeouncil says when it come t thede the president hab firm in his convictions but he can also be b fl. >> let me just say one thing. we come in peace here. the thing everybody ondsall

street no understand is just relax. if you look at the negotiating allure of this country, these countries that are running huge trade surpluses with us have no t incentive rock that boat. all we're doing is standing up. >> navarro said that by slapping tariffs on steel andm alumi the white house is acting in the nation's economic and nationase rity interests. also in washington, the treasury department imposed nctions on russian organizations and individuals in retaliation for interfering in the 2016 predential election and for malicious cyber attack. same sanctions target t russian groups that were indicted last month by special counsel mueller. the sanctions block them from traveling to the u.s. they freeze any assets in the country. and bar americanse busin from doing business with them. the trump administration alsod accuseussian government hackers of targeting the american energy grid. oiledrices e higher today, helped by signs of

growing global demand. the international energy agency expects that more demand will offset increased u.s. shale production keeping the oil market balucced pretty this year. the report comes one day after opec raised its forecast for shale production. e price of domestic crude settled above $61. well, the market has found some support from economic data today. the jobless claims fell last week by 4,000 clinging to a near 50-year low, reinforcing the strong labor market pe reptions. ort from the philadelphia fed said firms in the mid atlantic region reported difficulties findingnd workers that more than half the firms were raising wages aoress those shortages. other data showed an increase in the price ofds imported gast month as the dollar weakened and the commodityricesrose. there was also new housing data released. it comes at a h could time of the year for the real estate market. home builder confidence fell for the third month i a row as

builders complained about the higher costs for labor, land, and lumber. cording to freddie mac, mortgage rates fell for if first time this year. >> let's turn to our guestnor more the housing market as we approach theg big spr selling season. a roppve sen of zillow. aaron, are we init ation where we have tight inventories, not enough homes for sale is is he much demand still out tthere? is t the idea. >> that's correct, supply has been the story of past two years. unfortunately, it's just getting worse. you look at existing home salesh are down about 5% over the year. new home sales are down 1% in the year. at this point in the housingyc market with pries rising so much and demand out there you would expect home builders to be builng for than they currently are but as you noted they are facing sts. labor, land, materials, raw

materials, lumber are all going >> cole do you factor that hup. in when you look at the housing sector and you wantino st in it? how do you pick those stocks given the backdro that aaron just laid out for us. >> what aaron is talking about, it's particularly bad in places like seattle where aaron and i are. thoseofre somhe worst markets, seattle, san francisco, et cetera. the problem is as you laidut with land. the land is most abundantly thern part n the s of the united states. as we look, it's all dealing with pplies. supply is as tight as it has been going back 34 years. when you look at building, building is below d ression levels in the last 60 years on a per capitais aboutis. when will millennials be t dominati housing market in a way that people are excited about housing. thefd showed up, in the data. builders are always worried about landic . the bigger thing they are seeing an effect on is labor inflation.

>> cole, let's talk about specific stocks. let's start with home depot. it's long been considered a proxy for the housing market. it hit a high, up$207 in january. has been falling since. 176 dollars. is it trying to tell us something about the housing market? >> in the interim, that's how some people could read it. if you look back ten year, thouill, i mean, it's gone from the mid 20s tenears ago to 2 so and now back to 178 roughly. people have made sevenfold on their money in ten years. we have seen a period where they decided to sell and take it to lower price. >> you areis saying i profit taking not foreshadowing a crumbling housing market. >> home depot's most profit is when home are inlace and every 30 to 50-year-old woman want to

watch chip and joanna on fixer upper and make their home prettier. we are still below an averagepe od of people spending money on houses. >> before we get to some of the other ocks, ron, let me ask you, the one thing we haven't talked about is the prospect of higher interest rates. what impact is that going to have on the housing market? especially since now therehere some on street and i would be interested to hear your projection who areng now loo for three, maybe four increases in interest ratesing given how healthy economy is. >> interest rates are rising. they are up 50 basis points since the start of the year. certainly, that does increase ic your t home buyer's monthly mortgage payment. but yond kind of the tales of some financially savvy individuals people buy houses because life is happening, they are having kids, got a new job. that a situation to rent versus buy. millennials are out there,

working, havin kids. getting along with their lives finally after waiting so many yens. the quest is are their budgets going to betighter? for however tight their bumts theget they are bidding for scarce homes that are available. they want homes. mortgage rates will be a about it of a head wind but until they are up to 6.5% i don't know it's going to have a negativeak >> do you own stocks in any homes right >>now. en ar. and home depot. it is a tough business because they usually f borrow money the lanisek we talked about. that can make the cyclical down swings toug but there is a great runway to this. housing and a great way to make money in the next ten years. >> here's a 60-year-old man wan is a of kmip and joanna gaines as well. >> i am too. >> thank you for joining us tonight. wells fargo is reportedly facing more legalrouble from regulators.

according to reuter's, officials are now said to pa png sanctions for the bank for receiving commissions on auto insurance approximately sees that were for md one than 500,000 drivers. alls fargo had earlier blamed third party vendor for that issue. a separate report shows that the ceo made more than $17 million last year about $4 million more than that in last night we told that you the senate was voting on bgislation that would ease restrictions onks that were put in lays following the financial crisis of a decade ago. the cmber did pass that representing the most significant change to those rules in the te since the crisis. but at the timing it through t house could be tricky. usla tausche reports f >> reporter: efforts to relax financial crisis regulation on banks moved forward this week but are stalled just before the finihe line. >> bill, as amended is passed. >> reporter: the senate passed a bipartisan bill that eliminates strict oversight of banks with less than $250 billion in

assets. but it requires the house to sign off before sending it toe president's desk. house financial services chair jebay hencerling he's not just going to rubber stamp it. that leaves two options. pursue a contentious conference process between the two chambers an opthin house leade does not favor, orb hash out differences in private and produce a joint bill both sides of capit hill can pass. hencerling has assembled a package of more than two dozen provisio wants the senate to consider, including, and he expects to speak with his sate counter-part soon though there twoo deadline by which t must move forward. for "nightly business report" i'm cayla tausche in washington. time to look at some of today's upgrades and downgrades. dow component he can on mobile's rating was raised two notches to a buy at hsbc. ede firm c a stronger outlook for the company, cash flow growth skks the poe potential for significant share buy backs. the price targetd rai

$82.50 that stock rose 1% to 74.42. viacom's rating was upgraded to a buy at needham. the firm sites valuation and the.can's efforts to diversify away from linear telephones. the analyst's price target is $40. shares rose a fraction to $32.83. >> the price target on goldman sachs waraised to 280 by jp morgan. that firm calls goldman bank on wall street and says it will benefit from improving market conditions. the analyst sees better trading business this year. the stock was up a forects to 266.61. a downgrade for match group. the firm says the core brand will not return to positive year over year growth this career. the target, $40. the stock was off ao forecasts $46.41. >> still ahead, the you will mat

billio >> it is the billionaire yard sale of the century. the rockefeller center selling off more than 2 million objects. we will take you inside what could become the country's most expensive auction ever i history. investors were rattled a bit today when walmart was sued by a former executive who was accusing the world's largest retailer of unlawful conduct in its e summers business. the whistle blower alleges walmart mislabelled products so that third party vendors were paid lower commissions. he said he was fired under false pretenses in january of last

year. walmart says it intends to vigorously defend the firm against those claims. you can see the decline t in shares when the news was released. >> toys r us is asking a bankruptcy judge for approval to stop bying suppliers as it tries to find buyers for its international business. as we reporte last night the company plans to liquidate u.s. operations. hasbro says it expect the liquidation to bee disrupt the near term. toys r us accounted for 9% of hasbro's global sales last year and 11% of matel's. shares o hbro and ma telewere lower again today. the nation's largest radio broad kagser is filing for bankruptcy. i-heart media says it has reached an with creditors to cut its debate byore than half. they faced competition from the

streaming rivals spotify and pandora. here is where weegin tonight's market focus. bloomberg is saying bayer's proposed $66 billion acquisition of mant santo raised competition concerns with the u.s. government. the report says bayer reid agreed to sell some of its businesses but the justice depament would like to see more. shares of mont santo fell to 17.20. >> disretailer dollar general reported same store sales that rose at a robust pace last quarter and gave out the on the other handings guidance for the full year. theic hiked its dividend by 12%. gainersne of the best on wall street today gaining almost 9% to >>$93.44. investigators were not so kind to sears holdings. after the bell yesterday, the owner of sears and kmart pted its first quarterly operating profit in three years. here's the catc it came from tax benefits.

comp store sales at both chains fell by double digits over that time frame. shares fell 6% to $2.26. barnes & noble gaveuince for fiscal 2019 that topped analyst's timates. the book retailer says it expects earnings to be helped by cost cuts and improved sales trends. it finished higher to close at . . after the closing bell broadcom posted reports that beat estimates thanks to stronger demand for its chips. they also give an outlook for the current quarter in line with estimates. shares were higher in after hoursrading then they fell. they ended the regular day upha more 2% to $267.76. >> the legendary collect of the late david rockefeller is scheduled to be auctioned off at christie's next month. items rangerom paintings to

fine china. they are expected to fetch a reco amount with all of the proceeds going to charity. many say this could be the auction unlike anyin seen before. and maybe ever. robert frank got a rare look at the pieces and he spo exclusively to david rockefeller jr. >> reporter: no other name in american history great wealth and status like the rockefell rockefellers. now to their achievements in business andhe philanthropy family is about to add another. the largest auction ever. in may, christie's and the rockefeller family will sell off the entolection of the late david rockefeller who passed away last year at the age of 101. the saleys liko set a new record for an auction of a single collection, estimated a more than $500 million. >> sold at $29 million. >> reporter: in a rare interview at family farmhouse in upstate new york david's son says he

hopes the family treasures will find new homes around the world. i love the idea of thinking otherthese pieces in many people's hoechls. it's like a grand recycling. >> reporter: aside fro being the yard sale of the century it's a rare window foram ay that for all of its public good has maintained obsessive privacy. david was the grdson of john d. rockefeller, the controversial oil tycoonmeho be america's first billionaire in 1916. and ceo the chairman of chase bank and served on countless charities, museum, and educational boards. >> i hope that many of the buyers will have that sense thae they buying stories and buying taste, andthuying someg homey as well as something very beautiful. >> reporter: they are tcund flat wear collection including napoleon's favorite sugar bowle

andrt service. there are carved birds. plus familyeiooms including a 13th century syrian incense burner that sat on david rockefeller's desk atmaace attan. >> he probably liked to burn incense every day to set the mood. >> it would be great to think that. >> reporter: t s piece is expected to sell for i think over $200,000. >> that's what i hear. >> reporr: the starf the sale is picasso. it could fetch over $100 million. there's a matisse nude that could sell for as much as $90 million. and moan athat's estimated at up to $70 llion. while david and peggy always said they bought for beauty,ot profit, their art also became a great investment. >> m father, when he was looking back at all the sectors his investment, his real estate, his stos and bonds, his art, he actually had a colleague of his measu how well they had done as generic

asset classes. d art won. >> reporter: during his lifetime, david gave awayearly $1 billion. all the proceeds from the auction will go to a dozen non-profits selected by david. the rockefellers a now in their seventh generation. their financials areept private. forbes put david's net worth at around $3 billion but he was just a beneficiary of trust that will now get passed jwn. davi says the sales of so many family treasures is bittersweet. >> there are members of the family who really sad about that. i'm saddest about the idea of going into an empty house that used to be a beautiful house full of all o these amazing pieces of art. my dad taught me not to look back. >> reporter: but you don't have live likellionaire to a rockefeller. david rockefeller's martini cuff links areng b offered with an

estimate of between 400 and 6 hupd. and she is ceramic cheetahs are estimated at around $200. christies is storing most items in a secret manhattan basement and is taking some of the top lots on a world tour. they think the collect will have global appealirnd in today's new billionaires to follow the rockefellermodel. >> i hope it sets an example for rich americans in terms of being involved both in business and involved in the community and serious ding what a commitment you have to have to make things change in a positive way. >> reporter: david jr. says it also reminds us while great wealthan come and go noble causes endure. >> if you get too attached to material things it takes your focus off of all of the otherng important t in life, including relationships. and global peace. a an of those other important issues. so at the end of the day, it's

not the things themselves that matter in life. >> reporter: fortl "ni business report," i'm robert frank in upstate new york. >> we willeep you posted as to how that auction goes. great stuff. oming , hoop dreams. there's a lot of money in college sports. but should the players get paid? in case you hadn't heard, the ncaa march madness tournant is underway again. with it comes once again a focus on the big money behindollege sketball. i moon the schools get a lot of money and attention. coaches get a lot of money but players get not. paym should they? eric chemmy is with us to talk about this controversial topic

that comes u again and again. is this gaining any traction? how is this working? >> it's coming up again and again. this year in particular of the fbi investigation into bribery, financial advisers, all kinds of weird things going on, with shoe companies to agents. >> >>right. o this year, rumors are out there the fbi may drop another bombshell during the tournament or after it ends. >> that's one of the incentives to go to a school, if you are going to bepaid, right? >> one of the incentives would be to getec to a d salary. others have the idea don't get paid from the school but we will allow you to get endorsement money. that way the schools don't have to pay you. but ifou are good enough to get an endorsement deal, you cai gain and doesn't cost the deal. >> are there winners ors los in this deal. >> shoe companies will

defitely get a win because instead of going through the secret ways to funnel their money to the kids through the colleges, t they can paym directly. if you are a school, maybe you have to cut other sports that you were subsidizi through the revenues. >> that's one of the side effects. it is not an unlimited pot. it is a big pot but not limited. >> right. maybe the coaches salaries have to b million instead of $3 miayion because you have to the players. >> the money is limited. it has target. >> the kids leave afteras one because they want to make money and go to the pros. >> maybe you have to stay in college for three years before going to the pros. >> thank you for joining us. let's look before we g at how the market fared on this up and down andideways day.

the dow jones industrial average advanced 115 points to24873. the nasdaq lost 15. the s 500 was downust a little bit over two points. and tomorrow is friday. >> yes, ined. >> yea. all right. that does it for us tonight. i'm sue herera. we would like t remind you that this is the time of year your publicti television s seeks your support. thank you for joining us. >> i'm bill griffith. that thank you for support. have a great evening. see you tomorrow.

>> this is "bbc world news america." funding of this presentation is made possible by the freeman foundation, and kovler foundation, pursuingm solutions foica'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 ue caribbean sea.