report" w sue herera and bul eill. >> no place lhome. but there aren't enough houses on the market to meet demand. so why aren't buiers building? modern medicine. scientists say they are making headway on what they call t holy grail of the flu. a universal vaccine. going global. why our market monitor says now is the time to look overseas for returns. those stories and more tonight for "nightly business report" for friday, march 16th. good evening, everyone, welcome. i'm sue herera. my partner,th bill grifs off tonight. stocks closed out the week on a high note. e major indexes all rosas investors focused on beat econom data and looked past some of the trade concerns that kept them on edge the past few . we the dow jones industrial

industrial average rose 72 points to 24946. the nasdaq w up just a fraction. and did s&p 500 added four points. for the we, the averages fell 1% or more. dominic chu takes a look at the we canhat was and the week to come. >> reporter: over the course of the past week, business news headlines ran the gamut, chipping away at a big takeover deal, more controvt united airlines, and no real fun and games for a big toy retailer. travis going to be the biggest tech merger and acquisition deal ever, broadcom's take oef of san diego based competitor qualcomm. but it's not meant to be after president trump stepp in and ocked the deal citing national security experience. united airlines is under fire again, this time following the death of a dog on one of its flights after a flight attendant instructed a passenger to put her pet carrier in an overh bin. comes a year after one of his

passengers was forcibly dragged off of a flight. loited airlines is under fire again, this time fng the and now it's official, toys r us will be shutting down or selling all of its u.s. stores after it failed to find itself a buyer or reach an agreement with its creditors about ct resting billions of dollars worth of debt. as for what next week will bring, how about the fed, nike's bottom line, at&t's big day in court, and a big tech ipo. the federal reserve convenesn tuesday and wednesday the decide on intrarate policy with jerome powell giving his first news conference tied to a rate decision. nike will report results and will lickly face lot of questions with regard to recent reports about allegations ofap opriate workplace behavior from key executives. telecom giant at&t goes to court to try to win approval of its proposed takeover of media company time warner the government is seeking to beck deal on anti-trust anconcerns. data storage company drop box is expected to start trading this week in what will likely be

the bigge tech-related ipo of the year is he far. for "nightly business report" i' dominic chu. dom mentioned nike, where two high-ranking executives ar leaving. late yesterday the company said nike's bra president resigned. the resignation came on the same day that the ceo told employees about complaints of inappropriate workplace behavior. today, a second veteran is ireportedly leaving the wake of internal complaints. nike was the worst performingth stock o dow today. to the economy now, where consumer sentiment hit its highest level in 14 years. the university of michigan survey said most respondents were upbeat about the economy and their personal finances following the tax cuts. economists say the advance in confidence could contribute to solidonsumer spending. the number of job openings hit a record in january, of more than 6 million. according to the labor department, the number of peopli d rose. and fewer people quit their jobs. theteport suggests t employers are having a hard time

finding workers that they need. the unemployment rate sits at a 17-year low. home builders broke ground on fewer homes than expecte last month. and that is not good news for m housinket facing a critical shortage of homes for sale. diana olick takes a look at what's keeping builders from building. >> reporter: nearlyverything that goes into building a home is getting more expensive.nd labor, and now materials, thanks to new tariffs on lumber, steel, andmi am. the price of framing lumber is up over 40% sincehe start of 2017 and hit a record high last week. builders have been up against a shortage of labor and lots.dable now tariffs on steel and aluminum as well as economic policy allin m it even hadar to build homes buyers can afford. >> it's not justlumber. it's lumber. it's steel. i

itact fees, it's permitting delays. it's you know, rising interest rates. you know, there's a concern that a lot ofhese cumulative impact of these increases willmaurtail at some point. that's i think the bigger concern. >> reporter: higher costs mean builders can'tno makeh money building entry-level homes, the homes that are most in need. demand is also growing as millennials reachheir home buying years. add it up and it just equals higher prices forer b and more risk for builders and distributor. >> we can digest through mot moderate price increases. but when they are spiky, you know, we make commitments the our customers. they make commitmentso their homeowners, customers, and when our costs go d up and't have a chance to, you know, pass those through, tn it damages our prof profit margins and our business.

k> reporter: to put it all in context, at the pf the housing boom we were building nine homes for every people aged 18 to 65. at the bottom in t'ottt fell to just over two per 1,000. now wararey back to four. a normal level is about seven. and tho numbers don't even take into account all that pent up demand from the recession or the millions of homes bought by investors during the for closure crisis and turned into rentals. in other words, builders aren't even close to keeping up. fo "nightly business report" i'm diana olick. one of theuny's biggest mortgage lenders is reportedly the subject of a wideninic democrf justice investigation. according to the "wall street journal," the fbi has interviewed employeest wells fargo's wealth management business that extends the sales 'sactice probe beyond the fi retail banking unit. well, it was ten years ago bear stearns was bailed out. the once storied wall street rm was forced into a shotgun

marriage with jp morgan and nearly $30 billion in assistance to save it from bankruptcy. in the months prior, t bank had written down bad loans, cut jobs, and looked forstins. as someone who was covering that story, the run on the bank and its ultimate sale was a remarkable turn ofaevents. stunning day on the stock market. stocks under severe pressure rlier this morning after bear stearns gets a bail out. >> it los a itslity to finance itself. and when you are an investment bank and you are levered significantly you need to be able to finance yourself. these things can happen like that. >> the speed at which the firm collapsed the fire sale price shocked wall street. >> attempts to hp bear stearns damaged the stock and damaged confidence overall, particularly inci fins. this is part of the great frustration. you do noing, the stock goes down, you try to help it the stock goes down. >> jp morgan is buying bear stearns at a rock bottom price,

$2 a share. >> people at bear stearns i have spoken withre stunned by what happened here. one individual told me 17 years i have been saving for m kids' college education, now i have got to start all over again. >> investment. >> abouting will never be the same. >> and steve was right. a lot never was the same. many financial histori marked that day as the starting point of the biggest financial crisis since the great depression. it is time to take a look at me of today's upgrades and downgrades. netflix saw its price target raised to 350 a share over at rbc capital market. that firm sees netflix growing in japan, which can be difficult for western companies to the analyst is also upbeat on the company's original conten nonetheless, shares fell fractionally to 318.45. demonstrate onwasng dded to neutral at jp morgan. the analyst cites unndrtainty arheir funding strategy following a tax ruling by energy regulators price target was cut to 74.

shares of dominion fell to 70.61. wayfair saw its ratingut to underperform to neutral at da davidson. that firm sites competition in the home furnishings market. shares fell nearly 6% to $78.95. still ahead, rolling out the welcome mat. >> puerto rico is trying to become the destination for blockchain and cryptocurrency developers. will it succeed as the island recors recovers fromne of the worst hurricanes on record? that story when "nightly business report" returns. .

a city in y upstate nk is the first to ban new bitcoin mining. night they approved a 18 month moratoriumcr on new tocurrency mining operations. the mining process solves the heavy use of computer and they use a lot of electricity, which in turn is raising rates for city residents. miners have flobd to platsburg for its of itsmi pro to hydroelectric dam and cheap energy ices. puerto rico wants to prop the blockchain industry. blockchain the tecology behind cryptocurrencies. seema mody in san juan. >> reporter: puerto rico was already struggling through a decade-long recession which pushed the u.s. territory to the largest municipal bankruptcy in u.s. history when one of the most destructive hurricanes in history made land fall in september.

it's now been six months after hurricane maria and puerto rico is desperate to bring busineso backhe island. the government positioning itself as a hub for the rapidly growing blockchain industry which has yet to claim a city as ts headquarters. this pastweek, thousands of crypto and blockchain developers descend upon the island to attend three separate industry conferences in the capital of san juan. the secretary of the department of economic development announced a new advisory council initiative to help develop and attract blockchain business to the island? we are welcoming, with open arms, blockchain technology for puerto rico because we know there is a huge potential for the island. >> reporter: t insendives make puerto rico an appealing destalation. specif act 22, which says if you become a resident of essentially pay no taxes on long term capital

gains. it's at the main reason cryptocurrency investors and blockchain entrepreneurs have d moveown to the island. >> this is one of the best places to put a start-up company. the tax incentives are incredible for a start-up. the talent doesn't here is incredible. >> reporter: thompsonke decidedo the move to the island in drone storage andcs analyti company utilized the tax incentive for his business and himself personally. challenges exist. while over 90% of the island's power has been restored many residents tell us they still deal with a power outage on a weekly basis. a few entrepreneurs social media told us while the governmt is receptive of blockchain the local banks haven't been as supportive which makesending and access to credit a challenge. some say if puerto rico can improve its talent show the island will be a stronger

competitor with the others compete informing the blockchain industry. tiffani loses it shine. we begin tonight's market eycus. cited soft demand in overseas markets. the company is forecasting full year profits largely below expectations ast invests heavily in its turn around plan. tiffany shares fell 5% to end the session a 97an $51. a private equity firm has offed johnson & johnson more than $2 billion to acquire its diabetes unit. j&j has been considering options for this business which hasm suffered f falling sales. the company has until mid-june to make a decision. j&j shares rose fractionally to he133.68. former chairman of qualcomm is reportedly trying to take that company private. multiple reports say paul jacobs, who currently hold a board seat told the bortf his plan and urged companies to

become investors. it's considered a long shot for jacobs who onceran company. the shares rose to $60.62. >> investorsad their first chance to react to overstock's quarterly results. the company reported a loss and a drop in sales. it also warned that the previously disclosed.e.c. probe tied to its upcoming crypto coi offering could hurt its performance. the shares were off 5% to $45.70. our market monitor on the is looking to the global economy for his returns and recommending three etfs. we welcome scott huberdeauy, the chief investment officer at the carson group.ot welcome nice to have you here. >> thanks sue, glad to be here. >> so you see the globa growth picture as perhaps more compelling or equally as mpelling ashe u.s.? >> yeah, i think we've seen a upswing globely nothe just in u.s. but europe, which had great

growth last year. we also c saw brazile out of recession. strong emerging market growth out of china. solid growth in india. and japan put out good numbers for japan as well. it's been a real surge.s we think tha going to adjust the opportunity and set the investment ldscape quite a bit. >> let's start with your first pick. all three are etfs, the power shares international buy back ac evers. why do you like that? >> this is reasonablebly the ng one of the three. it focuses on international markets directly. international markets are cheaper than u.s. we like that tight off bat but we also rrnlize that inional stocks aren't as shareholder friendly as they are in the u.s. we want to focus on ones tha e. one of the ways they can more friendly is buying back their shares. we zeron on those types of countries. interest rates are lower n overseas they are in the u.s. the cost to buy back shares is quite a bit lower. we sawathe same sy work well until the u.s. a number of

years ago. we think it translate well overseas right now. >> the next one is the i shares edge msci value factors etf. tell me aboutth. >> as the economic recovery starts to broaden we see the number of companies that will binn benefit from it wil widen. this market has been characterized by a narw setf growth companies doing extremely well. we see morecks in companies are going to do well and we want to revalue stocks. wey hink tll have a solid rebound after years of growth and performance. one of the biggest changes in values is do you want to have a big sector that could have been comes with valu i th sector neutral. it's going to have the same amount of technology and staples as the every yo all index. we likeha ezing the cheapest stock but being balanced with ever kind of stock out there. >> let's go the your third choice. why do you like it? >> i think financials sufred throughe recovery. they haven't done as welcoming

out of that financial crisis which y referenced earlier over the last ten years. and so we see some big opportunities in this space. we see some specific benefits from overall global economic growth kicking in. one of them is loan growth has been really slow during thi recovery. we see an opportunity for that to kick up. and also see the fact that long term interest rates should rise. so we see banks should be able to earn more on the loans we are making financials and those loans will likely be paid off as long as growth continues. this is a sweet spot to take vonge groebl economic growth and be benefit shareholders. >> scott huberdeauy with theon cars group, read more about his picks on our website. thank goodness the peak flu season is behind us. it's not quite over yet. this one has been especially severe. but from maybe some positive developments when it comes to creating a universal flu

vaccine. g terrell has our latest story onodn medicine. >> reporter: every year the flu takes a major toll, causingll ns to get sick, hospitalizing hundreds of thousands of people, and leading to tens of thousands of deaths in the u.s. alone this. despite the availability of a flu vaccine. >> of all theacnes that we have developed over the yes, influenza vaccine can use a lot of imepovement. >>ter: vaccines for other diseases like yellow fever, measres and polio more than 95% effective at preventing infection. the flu vaccine, about 40% on average since 2005 of the. but it is effectivenessaries widely season to season with estimates of this year's flu shot at 36%. that's because the part of the flu virus targeted by the seasonal vaccine changes each year. efforts are underway to develop a so call universal flu vaccine one that would work no matter what strain of flu is

circulating and be durab for multiple seasons. this doctor is among those working on such a vaccines, what those in the field refer to as inflnza's holy grail. >> a universal flu vaccine is one which would last lifetime hopefully but at least we hope it works for 20 years or even longer. >> reporter: only recently have discoveries about the flu virus and new technologies enable the work on the universal flu accelerate. >> we only realized ten or more years ago that there was a part of the virus that dsn't change from season to season. once we recognized that, the real problem and the stumb block is how do you get the body to preferentially make a response against that molecule? >> reporter: it this is one >>e building the virus in e approach. the laboratory a new one, which

isn't out there and we make from there the vateine. >> rep the new virus is meant to stimulate an immune response that will protect from the flu virus season to sseason. itow in the earliest phases of trials. work is also underway at johnson & hnson as well as at smaller private companies. results from this doctor's work is expected within a year. then more testing will be needed before it can reach the market. >> we are talking about yeart decades. >> reporter: until then, the public health officials still recommend yearly flu shot. coming up, the great spacece >> reporter: i'm morgan brennan inside a future spaceship. meet star liner, this is boeing's capsule that could by year's enbe carrying american astronauts into space. ry from herethis s at the kennedy space center coming up on "nightly business report." the

race is on to get hooumtumans into space from u.s. soil. something that hasn't happened since the space shuttle program ended. both boeing and spacex are leading the charge. and morganrennan got a closer look at boeing'sti opeons tats kennedy space center in florida. >> reporter: meet star liner, a boeing spacecraft that's been years in the making. if all goes according to plan before the year's out, it will carryna asts to space. it would mark a major milestone. the u.s. lost the ability to launch astronauts from u.s. soil when the space shuttle program ended seven yearsago. >> liftoff s of theay yuz

racket. >> reporter: instead we have been relying on the russians to do it for us. president trump has talked about goinnd to the moon mars. >> it marks an important step in returning american astronauts to the moon. >> reporter: but the new space race really starts here. wi nasa's commercial crew program. >> every other nasa human space site program has been cost-plus and the responsibility of the contractor was to deliver the trsportation platform to nasa for their use. on commercial crew it's more of al renta car model where we retain the asset and they take it for their use in that particular mission. >> reporter: john hareliner would know since he used to work on the shuttle. star liner is one of two spacecraft, the other is spacex's dragon capsule being built. all g is producing three, of which will be leaving the factory ahead of major tests. it will fit seven people and will be able to be reflow u to

entimes. the first test will be at kennedy space center. they are doing evacuation drills. >> we have the emergency escape system inassaulted stalled. we have chngd it out w the astronauts in full space suits ready to support any operation that's occurring up on the tower. >> reporter: a comny jointly owned by boeing and lockheed martin will handle the launches. here 1hstories up on the lau pad this is the white room. literally the last stop on earth for astronauts before they enter boeing's starliner and head to space. boeing's contract with nasa is a little more than $4 billion but could at next tha generate the bigger business. >> it's slowly evolved into a commercial market but only for high wealth individuals. and now we are at the point of the mar where we have 737 take off and lanisek about every two seconds. we can see the growth in the

commercial space flight market paralleling that. >> reporter: for "nightly businesseport," i'm morgan brennan at the kennedy space center in florida. >> to read more about the race to launch the next generation of human space flight head to our s e, nbr.com. before we go here's a look at how the day onall street ded up. the dow rose 72 points. the nasdaq was up a fraction. the s&p 500 added four points. but for the week the average fell 1% or more. that will do it for "nightly business report" tonight. i'm sue herera. we want to remind you, this is the time of year your public television station seeks you support. thank you. have a great weekend. see you monday.

steves: a good place to sample

today's turkish character is in ankara. a small provincial town just a century ago, today ankara, with over four million people, the vibrant capitol of a modern nation. the city is a thriving example of turkes new affluence. energized by busy boulevards, prestigious universities, ankara is contemporary turkey. if turkey is more modern and comfortable with the west than other islamic countries, te's because of its gr statesman -- mustafa kemal ataturk. this is the mausoleum and memorial museum honoring the father of modern turkey. inside, the museum tells the story of this amazing man, rt whose career sta as a military hero. it's hard to overstate the importance of ataturk. it's been said that the turkish nation should thank god for ataturk... and thank ataturk for everything else.

mustafa kemal was a heroic leader in the first world war. the war, he drove out the allied occupation forces, n overthrew the ottoltan, and saved turkey from european colonization. then, inda923, he established s turkish republic. a grd eful nation renam ataturk or "father of the turks." as the first president of the republic, he built the foundation of modern democracy here on the ruins of a corrupt empire. a long halcelebrates the impressive accomplishments ataturk. he separated mosque and state, emancipated women, replaced the arabic script with eure's alphabet, introduced , western-style indust and legislated equality for all citizens. the memorial site is grandiose, with avenues of lions

and formal guards giving visitors a sense of patriotism and nationalism. the mausoleum teself crowns the ike a grand temple, giving those wit a feeling of reverence and respect. pilgrims froke all corners of t stand before the tomb of ataturk and remember the father of their nation.

>> this is "bbc world news america." funding of this presentation is anmade possible by the fre foundation, and kovler foundation, pursuing solutions for america's neglected needs. >> planning a vacation escape that is relaxing, inviting, and thaning is a lot easi you think. you can find it here in ara. 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. nonstop flights are available from most major airports.