busiilss report" with griffeth and sue herera. doubling down.e .s. threatens $100 billion more in tariffs while china fows toht back at all costs. and stocks sink. winter woes. nasty weather takes a bite out of the mar jobs report. is it enough to keep the fed at bay? and was ity rea as bad as it looks? office on tgo. ho busy schedule of two entrepreneurs helped them create a mobileork space for modern times. all that and hutch more tonight on "nightly business report" for this friday, april the 6th. and wdo bid you a good friday even, everybody. i'm bill griffeth. sue is offhis even. fears of a trade war. worries over rate kes, a lackluster jobs report.

these three all investors today on this final trading day of the week and stockssell sharply a result. here are the final numbers today. when all was said and done the dow was down 572 points. back below 24,000. that's its biggest decline in to weeks by the way. the nasdaq was down by 161. the s&p lost 58. as you can see, all the major afternoons were down more than 2% for the week, the dow, the nasdaq, and the s&p were lower asell for the third week this the last four. bob pisani has more on the selloff from the new york stock exchange tonight. >>eporter: traders are eager to change the conversation from trade wars and tariffs to the economy and earnings but it's hard to did thatn w president trump teens upping the ante as he didast night saying he is exploring an additional $100 billion in tariffs. traders have been trying the convince themselves that the president's bligerent tone is a negotiating tactic. but the president seems to beli do down and less concerned about markets.

the treasuryreecretary app on cnbc midday and acknowledged there was potential for a trawa though that was not the intended outcome. regardless the markets drooped after that interview. traders have been eager to give president trump the benefit of the doubt but there is a rising ability of a real impact tohe g and economy. there is considerable collateral j with industrials and materials down notably and traders complaining tre is no visibility and the market may be becoming uninvestable. that's a bad rd. what comes next? thankfully earnings will start next week and they will be outstanding with the best overall earnings growth we have seen in seven years, about 18% for the s&p 500. beyond that, traders can only hope that negot china start sooner rather than later. some are hoping that t president's trade representatives talk a littlt bit l less since conflicting voices are clearly dausing some nenfusion. for "nightly bu report"

i'm bob pisani at the new york stock exchange. hinow, the house's new $100 billion tariff threat that bob mentioned adds to the heightened tensions between the world's two largest omecs. kayla tausche follows the story from washington. >> reporter: it started monday with china hitting back on steel and aluminum tariffs, escalating thro.hout the we us and china matching each other's $50 billion tarifffo threats president trump added the potential for another $100 billion. treasury secretary steven mnuchin said this isn't a trade war yet. >>e right nowve initiated a plan. the tariffs will take some period of time to go into effect. there will be public comments. so while we are in the period before the afternhes go we will continue to have discussions, but this is the potential of a trade war. >> reporter: he says the irade wars not the objective but president trump hasn clear with president xi that he would defend the u.s. interests for

free and fair trade. the two leaders he said hav a great relationship. the two countries still working on a resolution. on the one hand, we absolutely are willing to negotiate and not get into trade wars. t on the other hand the president is perfectly willing to defend interests. so this a very clear strategy. >> reporter: what's clear to markets is that thi fis from over. $150 billion represents a third of china's exports to the u.s.go man sachs told clients china could move past tariffs to something more painful, devaluing its currency or limiting access. farmers worry their businesses will suffer while they wait for a deal. federal reserve chair j. powell said that could change economic outlook down the road. >> we did hear from a o numbe business leaders from around the country that changes in trade policy had become a risko the

medium term outlook. >> reporter: it's hard for observers including the commerce secretary to see the end game. >> it looksike a poker game, i will see you 50 and i will raise you 100. it seems this is escalating at a pace that no one expected. i don't know how the president will declare victory, which is so important to him. has beenaking on china one of his signature issues. >> reporter: president trump's economic adviser defends his willingness to take action no prior president has. but in doing so, hs also raised the stakes higher than they have ever been fo "nightly business report," i'm kayla tausche in washington. meanwhile,m reaction f china was strong, and it was swift. eunice eun is in beijing for us. >> reporter: secretary mooun mnuchin might be playing down the idea that the u.s. and china are heade toer a trade war but the chinese are definitely

gearing up for one. the commerce ministry today scrambled together a last-minute press briefing to say china is well prepared f. the u. releases its new list of $100 billion in products, we will immediately fight back without any hesitation. we won't rule out any options. the ministry als countered talk out of washington that the two sides are having private discussions about ade, sayin chinas that no dissimilar formation about negotiations from various american officials. but this is not what has happened. chinese, u.s. and economic and trade officials haven't had any negotiations on issues. the government has been messaging to the public here at china is the victim in all of this, which plays right into the way president xi jinping likes to present himself as ade nder of china from western aggression. and the messaging is havingn effect. on chinese social media two of the top trending hashtags are ght back the trade war, and

china is not afraid. and we are just starting o see on line calls for boycotts for american goods. here are some examples. boycott american products starting from today. no i-phonesnd no american cars. after japanese and korean, it's time to boycott american goods. right now, this is just talk on social media, but the government here can and has encouraged boycotts in the past whenbe it' upset with another country like japan orko south a. its fanned nationalism and antiforeign sentiment and the danger for american companies is that these types of boycotts could actually affect not just imports but also the seal their locally made product. this is just another tool that china could use in its tool box the rerliate. nightly business report" i'm eunice eun in beijing. more now on that monthly jobs report that was released first thing this modern.

it shows employers hired fewer workershan expected march. non-farm payrolls grew b 103,000. almost double than expected. the unemoyment rate held at 4.1% with a slight uptick in wages. as hampton pierceepts as so often happens thene headli numbers don't tell the whole story. >> reporter: weather was a key fact neuro the jobs slowdown in march.g late sprin snowstorms in the northeast triggered dramatic down turns in key sectors including construction which lost 15,000rs wor after adding 65,000 in february. retail sufferedil a s downturn. 4,000 fewer hires last month versus an increase of47,000 in february. it all combined to produce the lowest monthly headline job grurth since thecanes last fall. >> the jobs numbers today is like sw fall in april, unpleasant but probably not a hare bingeo of things come.

i think the numbers will improve over the next months. >> reporter: the unemployment rate at 4.1%t remains a 17-year low. and wages actually increased, up .3% for the monday and 2.7% ye over year to just under $27 an hour on average. >> the question is whatpaypes of raises they got. the wage number here was decent. if you look at that time production and non-suhrrvisory sideing out the managers we continue to have slower wage growth for that. that would be closer to what your typical worker is than the other esse >> reporter: professional and ininess sectors led the way job creation adding 33,000 workers. despite concerns about a trade war including higher steel tariffs manufacturing was a growing sector. each with downwardis revns for january and february, average mothly job gains for the first quarter of this year are above

200,000. >> i think the labor market is still quite strong. if you look at the last three months we sawly it basic getting 200,000 new jobs per-point mo on average. that probably washes out a lot of the weather effect. >> reporter: in the coming months it will not be the weather but storm clouds over trade policy that may impact job growth and add another concern for the fed when it comemo to tary policy. for "nightly business report" i am hampton pearson in washington. let's bring in brad mcmillan now. he is going to talk more about today's jobs report, the economy, the stock market. we a lot to talk about here brad. you are chief investment officer at commonwealth fin network. thank you for joining us tonight. >> glad to be here. >> first of all, the jobs. herky-jerky kind of -- maybe we attribute it to the winter weather? what do you see going on right now? >> i think this is really noise. on the one hand, it was the lowest number in the past six months. but on the other hand in february we had the strongest number in the past two and a half years. >> right.

>> just because things around aa go february they are not as march. on average we are actually doing better than we were in 2017 and i'm not worried about that. >> the feds said after their m lastting they could see the unemployment rate dropping maybe to 8% by the end of the year. do you see that as well. do.i right now you are seeing employers desperate for workers. they are going out, they are they need to get people just to fill the spaces. soecause of that they are going to be hiring people that maybe they wouldn't like to hire owd that's going to push the unemployment rate to levels we maybe have never seen before. >> and we heard from chairman well today, we have head from john williams and some of thee others on fed. they are talking still about three, may three more rate increases this year. how do you see that? >> i think it's at least three. and i think the bias is for four or maybe five. employment e actually better than what the fed would like to see -- we are at fetter thanl employment. and when you see inflation and

wage growth starting to heat aup -- chair powell was quite clear about that -- they have to act and they have to get ahe of it. i think that's what i took away from chair powell's speech today. >> now, trade. is that a lot of noise as well? i mean thet mar seems to act -- you know, the u.s. officials say that these are negotiating tactics that we are witnessing right now with the threat of tariffs but the seems to be take it more real. what do you think? >> well, i think the first time it happened we indeed saw these market get because this was different. but then the negotiating tatoics, the market bought that. and the second time, that also happened. thre stimes -- it'srting to get a little bit tougher to say this is just a negotiating tactic and the question here is it three strikes, you are out? i don't think so but we are getting closer to that. i think the market is getting closer t a point where i really going to reabt. >> meaning what? do you see this as an opportunity t invest on those stocks that have been beaten

down over fears of tariffs o j o yot stand aside for a while. >> i think at this point you need to take a sp back of it's not to say that anybody needs to panic. it's certainly no in fact, right now the market has actually stayed above its long term trend line. but at the same time there is a potential as we heard from secretary mnuchin today that things could get worse. if that's the case the markeco d certainly be impacted. >> brad thank you. have a good weekend. >> you too, rathauch. >> mcmillan with commonwealth financial network joining us tonitt. up nll the talk of trade may be waking havoc on stocks. imagine being a small business owner caught inhe middle between a spat of the super powers.

california's wine industry for one has become a target of china's retaliatory tariffs. in the tariffs were actually imposed it would be a big blow to wine makers in thattate because they do ship a lot of wine to the chinese. aditi roy is at a winery in napa valley that views china as a very big market. >> this isurlagship saber nay. >> reporter: stephanie cons this vineyard and winery in napa valley. for the last decade she worked hard at t growingir business in china.

>> we go once a year, work with our porter, and meet with people. education is key. >> reporter: they sell about 1,000 cases a year to china. each bottle sells for about $100 there. but now china's announced a 15% tariff on u.s. wine imports. she worries that will drive away their chinesecustomers. >> they are a huge concern. a huge concern because we have been workingeally hard for over ten years in growing our market andwi g our consumer base in china. and this will have an impact on us and on our importers and our partnership. >> reporter: she's not the only one. china is the fastest g wine market in the world according to the wine institute last yearalone, greater china brought in $210 million worth of ne from the.s. >> it is what we call the first year barrel room. reporter: david is a ceo of open us one. i says their relationship with chinese custome so critical the winery even offers tours in

mandarin. >> emerging markets are critical to the health of the larger market. china is one of the most dynamic emerging rmarkets. orter: but he isn't as concerned about the tariffs. a bottle of open u one costs about $600. reny experts say at that price level customers willing to pay more for the brand. >> i think it is very fair and not surprising to understand that luxury priced products are lessee elastic in terms of the impact of price changes and the demand for them i think will be less eppacted. >> rter: stephanie says while the after thes may cut into chise sales in the short-term they will continue to invest in the relationship for the long >>run. ou know, keep going, keep building our relationships, keep telling our story, keep selling our wines. the wines we feel speak for themselves. ley we will v continue to succeed in china. out might take longer now but we will continue to grow.

>> reporter: experts say countries like australia and new zealand may benefit from the tariffs. wines from those cntries don't face the extra tariffs so chinese customers may turn toan those instead. for "nightly business report," aditi roy in california. a proming cancer drug fails in a closely watched clinical trial. that's where we gibb tonight's market focus. biopharma company incyte said its immunotherapy used in concert with one of merck's drug did not work and now the study has been halt. merck shares fell on that news and incyte's shares plunged. reports say the company is working wh an adviser to consider all of its options following calls from activist investors. super value shares popped by 9%

on tt news at $16.75. 350,00rd is recalling trucks and suvs with the automaker saying that a gear shift issue could cause the vehicle to tin to move even after it's been put in park. the recall applies to the various vehicles you see here including t best selling f-150 pickup truck. ford said w dealersl inspect and make the necessary repairs for free. shares of theompany were down 1.5% to $11.18 now to our weekly market monitor who has a list of names he says will benefit from a strengthening economy. last time he was with us, back in september, he recommended shares of the i-shares u.s. home builder etf which sincehen has been up 18%. he recommendedhe tisdom tree europe etp which is up 3% over that time and shares of ason, which is up 3%. mark, always good to see you. thank you for joining us. >> thanks, bill. >> your premi is that all the

noise, all the talk about trade problems, alles the wor about fed raising rates -- when all is said and donenk you t this economy is just going to continue to get stronger and you should invrdt acgly. is that the idea? >> it is ours, bill. we think that to be the case.e, we obviously, sturdy economic activity coming into this year. we think the fiscal infalse from the corporate tax rekorms well as the budget act is likely to boost economic activity over 2018. now, i think there is some risk here that this trade tariff skirmish metastasizes into a war. i don't think it's necessarily better than a on50%rn at this juncture but it's non-trivial knowledge. it is a risk we are monitoring closely but our base maintains the u.s. economy remains in good shape and should provide a fertile climate for the stocks we like. >> you are recommendri three etfs, first one in the financial

services area, kce. tell us about those. >> al three will be cyclecally disposed. kce is an etf comprised of cuksodian b which stand to benefit from improving financial markets and risingm short-t interest rates. >> this one, you are recommending xar and arrow space and defense. interestingly, boeing is not a major component of this, because they have a problem with the trade issues, don't they? >> they do, bill. deliberately so. hink trade again we risks will ultimately recede nonetheless if you look at the other aerospace and defense related etf they have a disproportionate weighting in boeing. xar levelshe playing field of its components that comprise the etf and we think obviously spending primarily on defense is obviously oing in one direction.

that's up from here not only domestically but globally. >> finally v, a tech etf, re, right?on soft >> business spending is going o, businesses spend disproportionate technology, within that, mostly on software. this fits that bill. >> mark, always goodo see you. thanks. have a good weekend. >> thanks bill. >> with janney montgomeryt.sc the read more about his picks, head to our website at nbr.com. coming up, need a quiet place to get some work down? two entrepreneurs have the attest idea to bring privacy to public spaces.

we have all been there. we have got a little time to kill but you can't find place to kmaj your phone or jump on a phone call. we are mobile the i days but seems that our infrastructure doesn't always accommodate mobility. that's why two new york city entrepreneurs got the bright idea to create a modern wor space for people on the go. >> reporter: when bri him between meetings in new york city five years ago, he settled in public space. >> pulled out my computer and i was trying towork and it wasn't productive. security was ushering people out who were trying to plug into power. people are eating, communicating. so the idea at that time was we need something new to solve part of this problem. >> reporter: i ironicallyis a problem he helped create. at the time, he and his business partner injury me jennings were selling offe furniture for

open spaces, the type of spaces that he had been designing since 2001. >> i'm thinking we need like the modern day pne booth. >> reporter: yes. remember the phone booth? jennings instantly shared the vision. >> just thateek i got a text and i needed to jump on a phone call. wher do you go. >> reporter: they thought the would try their modern phone booths in places like central park. >> the probl there is landmarks. >> reporter: another problem was the product didn't exist.th designed the jabber box themselves and then pivoted away fromublic spaces when a new jersey company, audible, saw their drawings and wanted to buy them for their ope office. so they worked with a manufacturer to build and install the first five jabber boxes in 2016. >> we had just completed our very first installation and had call. we are like this is the perfect place to do it fr t. >> reportere are thousand

about 200 jabber boxes in offices as fars away berlin germany, dublin ireland, and london. a single seat model runs $13500. the two seater is $24,000. revenues arelready close to $2.5 million, and they expect to sell more than 200 jabber boxes this year. >> you an always g. you are always in front of a screen. you are being spoken to. you are being asked questions. to have a little time to yourself to think, to relax, to breathe, it's priceless. >> reporter: after tweaking them for public spaces, seven jabber boxes debuts in terminal b at new york's la guardia airport in february. >> slight in your chip card. approved. and then we ha the ability to unlock the door. >> reporter: starting at $10 for 15 minutes you can plug in and access the encrypted jabber box wi-fi network in peace and quiet. you can track your flight, even

adst the lighting. >> we have alsotl a lit playful photo boothpp a where you can go through and actually take photos of yourself. >> reporter: ed back lore is working on theed relopment of terminal become at la guardia. >> early indications are that it seals to be well received. how often do a wind up at a gate or on a conference call as you are about to board. the challenge is you can't be back at the lounge, you can't find a quiet spot. noha w brought the quiet spot to the gate. >> reporter: as jennings like to say, superman might have had a phone booth but you can have a jabber box. >> ts isn't phone. it is a superut comper. it allows you to work where how when you went. it is not really a phone booth. it is a work booth. >> reporter: they expect more jabberng boxes to be appean more airports this year, you may see them in tel, conference sites andan vengs centers, even

theaters and sports venues. before we go, a look at wall street. dow dropped 572 points.e asdaq was off 161. the s&p down 58. all the major arches down 2% today and all three were lower for the wee as well. this is "nightly business report" for tonight. i'm bill griffeth thank you for joining us. have a wonderful weekend. we will see you again on monda

>> this is "bbc world news." >> funding of this presentation is made possible by the freeman foundation, kovler foundation, pursuing solutions for america's neglected needs, d purepoint financial. >> how do we shape our tomorrow it starts with a vision. we see its ideal form in our mind, and then we begin to chisel. we strip away everytng