this is "nightly business report" with bill a griffet sue herera. return to normal. the dow has rallied more than 1,000 points in a week leaving investors to wonder whether the market is starting to stabilize. historic summit. a date is set, but north korea is sll evading sanctions, and the united nations is looking to traders and insurers to prevent that from happening. timing is everything. the best day and time to list your house for a fast sale at a higher price. those stories and more tonight on "nightly business report" for thursday, may0th. and we do bid you good evening, everybody. at today's closing bell the dow found itself back in positive territory for the year after recording a sixth consecutive gain. its longest win streak since

february. y is this happening? well, inflation fears are abating, volatility is fading. todayea at bond yields fell back, small caps are at all timh and a market leader, they appear to be on solid footing as well. today it all resulted in market gains across the board. e dow industrial average gained 196 points to 24,739. the nasdaq was up by 65nd the s&p added 25. mike santoli takes a look now at whether the market is just returning to normal.te >> rep investors thrown off balance by swirling markets this year now face a new wrinkle, a sudden outbreak of normalcy. this year scks went fro an unprecedented uphill strength in january to a nasty stumble in february followed by months of confused struggle. in the past couple of weeks stocks have stabilized and covered to a seven-week high as a rush of strong earningsed prov support and stock

investors have made a tentative peace w hh somewhather interest rates. this return to normalcy can be seen from a few different angles. the widely tracked s&p 500 volatility index closed wednesday at its lowest level nce january indicating stocks and stock traders are no longer particularly agitated or fearful. the market has also grown less sensitive to potentially unnerving headlines. when president trump exited the iran nuclear agreement and oil prices cssed $70 a barrel, the major indexes paused briefly and resumed their gentle climb and stocks in sectorsre movin independently based on their own news and corporate results rather tha a swingingund emotionally in unison. that's typically a sign of a, calmore rational investing back drop. the sectors driving the recent bounce are somewhat encouraging. technology, financials, industrials, energy stocks have been leaders which suggests it's comfortable with the underpinnings of the economy. none of this is to say it's worked through the issues andde

ined for a return or beyond the old highs. this remains a fairly proacnged setk and the s&p 500 remains january 5% from the peek. even in a more normal market you can still very well encounter the storminess ashe mid term elections. the action and interaction indicates investors no longer feel over exposed to stocknd the economic fundamentals can support them at current valuations at least for now. for "nightly business report," i'm mike sasoli. we mentioned, inflation fears diminished today after the release of a key economic report. ro consumer price index rose .2% in april. that was less than expected and it follows last week's employment report that showed wage growth remains stagnant. the report showed that rising costs for gasoline were offset by a moderation in heah care prices. meanwhile, the rate of layoffs in the u. is holding steady near a 49 year low. the number of pple who applied

for unemployment benefits last week was flat from the prior week but the average of new claims over the past month has fallen by more than 5,000 to touch the lowest level we've seen since 19 69d. economists say this latest report supports the idea that the labor market is tight and companies may be reluctant to fire workers. and as we have reported, an unusually large number of positions are goingunfilled, an amount that almost matches the number of unploids workers. what does that mean for the job market and the economy and which inmpanies stand to benefit the most? g us to discuss that are mark zandi, chief economist at moody's analytics and markh ham tack. i'm going to with you, mark. >> there are two marks? oing to zandi i was say. >> there you go. >> how unusual is this phenomenon where it's alm one to one? and is it sustainable?

>> it is veryunusual. i don't think it's ever happened in history. we've got datae back into early 2000s. we've never seen anything like it. it'sonsistent with all of the other labor market data. 3.9% unemployment, very low under employment rateat quit are high. people are quitting their jobs and they don't do that unless they thinkhey can find another one pretty quickly. this is very, very unusual. somethinge haven't seen historically. >> markham rick then, who's benefiing? obviousl employees, theoretically they should have some pricing power here even though we're not seeing wages go up. are there sectors benefitting from this very tight labor market now? >> well in this latest data i think we saw professional and businessic se, construction and transportation sort of leading the way. the other part of course is we really do have in some ways a divided ameca from the healthy larger cities and ameri suffering. if you have moved or you're in one of thoseocions and are in one of those healthier

sectors you're going to do better. there are many parts of the country where workers are not benefitting from this real ascension in the job market that we've been seeing. it's really almostncumbent on those individuals to attaie skills and mhere the jobs are available. >> mr. zandi, i'll turn backf you can to pick up on what bill was mentioned. you would think there would be some pricing power. wages although they're starting realle up a little bit have lagged behind. why is that? >> first of all, wage growth is accelerating if you look at the best wage data, you go back three years ago wage groh was 1.5, 2% each year. now it's closing in on 3. so it is picking up. and i feelfiery cnt it's going to accelerate quite substantively. we collectatased on payroll records from adp and based on that data we can see wag growth across lots of different

demographics. the one t fascinatingng that's happened recently is wage gains for new entrants into the work surging. that's a good leading indicator. i'm confident that wage gwiwth pick up going forward and the benefit of tors strong l market will become more evident to more people across the country. >> mark zandi, where is this goin how long c we have this kind of a tight labor market when you do have these companies, g especiallyss in manufacturing and construction, w?at are scrambling to find workers right >> yeah, this is not sustainable. so the one thing i worry abit, hink markets will eventually worry about this next month, the mont i after, that the economy will overheat. that is, you get to a place ere businesses just can't find workers. we're getting to that place. construction, transportation, urparts and manufag, financial services, professional services. you start to seeages rising. we will see inflation pick up in higher interest rates and , ultimateou know, it's a problem. it would be much better, i think for ybody, including

workers, if we saw some moderation in growth and pl unment's kind of hung around where it is now because we're going to have a problem. this is notna suste. >> mr. hamrick, does that go to the tight labor mket or does that go to the skills gap that bierybody is talking about or maybe a ction of both? >> well, yeah, i do think we sort ofremember as mark ran down the list of positive metrics in this job market and the economy, there are some things that are quite remarkable at this point in time which are not sn as positive. for example, the low labor force participation rate and the sort of unanswerable questio at this moment is who can be brought back into the job market? how many of those peopletu ly are capable of being trained? do they even havehe minimum soft skills to enter the job market? the other part is that i know mark is along the lines of thinking, and i totally agree, that we cou see this unemployment rate get down into the mid 3%range. we've been consistently lowering that as this job market has gotten tighter and yet we

continue to see, you know, on the order of nearly 200,000 jobs being added a month. o a l this is a work in progress. >> hamaick, so, okay, construction and manufacturing are suffering. they can't find those whworkers. about the areas where they are benefitting from this tight labor market, like technology? are there companies out there that you can think of that are flourish right now?of this >> obviously it's some of the same fang stocks that we have talked abou for example, in the publicly traded sector. the facebooks, amazons, googles, netflix. some that aren't quite asc pub facing. those technology giants just continue to gain traction in the marketplace and that's why they've been a favorite among investors for quite some time. >> gentlemen, we will leave it there. mark zandi with moody's analytics and markhamrick, thank you both. bill? > the treasury department said it levied sanctions against several iranian individuals and

firms. they targetn illegal currency market in the united arabat em. it accused the iranian central bank in bei complicit in those. this is the first since we pulled out of the iranian nuclear deal this month. president trump will meet with kim jong-un on june 12th. it will take place in esingapor. u.s. will use that summit to try to convince t pyongyang give up its nuclear weapons. this is the firstti m between the u.s. president and leader of north korea. even as they plan evt this high summit, cnbc has lear still evad sanctions with covert actions. michelle caruso cabrera met with an official to talk about how they'rellegally importing vital oil and he wants international insurance and

trading companies to help put a stop to or. >> rr: this highly secure and nondescript office in new uarters of the u.n. panel of experts led by hugh griffeth. griffeth and his team monitor the sanctions imposed on north korea, sanctions meant to convince k jong-un to abandon his nuclear weapons program. asrecently as north korea agreed to talks with the united states, it has stopped nuclear tests and ballistic missile launches, the most obvious sanctioned activity. griffeth says don't befooled, north korea is still trying to outsmart the u.n. >> so while both are clearly not occurring, we have other sanctions violationshat are ongoing. >> reporter: such as? >> such as ship-to-ship transfers of petroleum produc t >> reportet's when they buy desperately needed but prohibited oil from other ships at sea like this ship-to-ship transfer caught by ariel photos.

>> one vessel, the cote, transporti it to this north korean tanker. >> reporter: a key trick, shutting off their ais signal.at th short for automatedfi idention system. it's a maritime version of gps in snded forrch and rescue purposes. >> so you know down to the second when that vessel was transmitting and when ty went dark. >> reporter: it was weak when it was very close t north kore >> exactly. illicit northof korean petroleum diversion we've seen, the vessels switch off their ais just before they meet at sea,he meaning that t cannot be tracked any longer so that's anmmediate risk indicator. >> reporter: what is the legitimate reason, if ever, to turn off the ais? >> the only real legitimate reason for turning off the ais signal is if you'r traveling through the pirate infested regionan and you don't to

give away your position to the pirates. i don't see any other legitimate reason. >> reporter: and this is whereu the ice and trading companies come in. >> we just have to get these guys and them on board. >> repnvter: thetigators can't force the ships directly to turn on ais so inste they're trying to hit them through their wallets via the insurers and trading companies based in countries that they know will comply. a they'ved them to insert clauses that demand the ais signal stay on at all times or else the ship's insurance will become null and void. for "nightly business report." and you can readore about enforcing north korean sanctions nbr.com. bsite at it is time to take a look at some of today's upgrades and downgrades. macy's rating was cut from under weight to equal weight at morgan stanley. they cite sluggish sales and says it needs to do more to get rid of underperforming stores. the price is $25.

shares fell more than 2% to 29.42. aig's rating wasgr ed from buy to neutral at goldman sachs. the analysts cite the strategy and effective execution. the price targets $6 and the stocks fell fractionally. an highser bushas given an out rating. they cite the potential for organi sales and profitgrowth. price target, $113 but the stock did fall today by 2.5% to $95.40. and tinder owner mch group saw its rating raise to buy from neutral at ubs. thenalyst does not think that facebook's entry into the online have abusiness will material impact on match's future growth potential. ubs also said the stock's recent selloff presented a good value opportunity. they have a $48 price target right now. shares rose more than 5% today to $38.91. still ahead, the road ahead.

what ford's chairman said just hours after halting production of its most profitable vehicle. apple shares closed at an all-time high rising for nine straight sessions as the company's market value closes in on $1 trillion. the stock has been fueled by apple's $100 blion buy back plan that was unveiled last week. today the stock rose more than 1% t 190.04. it has tot close 203.45 to hit the 1 trillion mark. th market cap is currently 934 billion followed by amazon at 0 billion and alphabet at 765

billion. >> getting close jercloser. apple and s goldmhs are teaming up for a new credit card. thement would expand apple services businesses broadening apple pay's reach. goldman's first move into credit cards asusts further into consumer banking. wells fargo improperly collected fee rebates that should have been given to a public pension fund. the bank said it was the result ofm a sysror and that it returned $15,000 to a tennessee fire andolicefund. this followings a number of setbacks for tank including its fake account scandal that surfaced in 2016. shares rose on a separate report that the bank's earnings won't get as hard by regulatory caps as originally thought. lawmakers today releasedf thousandsacebook ads created by russian entities before and after the 2016 presidential election. nt julia boorstin reports now,

the ads poi to the size and scope of russian manipulation on that platform. >> reporter: houseli intnce committee democrats have published some 3500 plus ads,ts even and pieces of content thathe russian internet research agency ran on facebook anden instagram betwe 2015 and 2017 in anffor to electis. some oth ent are legitimate events such as rallies and protests that were organized by americans but promoted by the russians. >> this is a popblem with an platform with 2.1 billion people on the system and 6 million advertisers. it's really hard to police and, again, i think that, you know, this just shows you the complexity of what they've created. >> reporter: the ads, which were seen by over 33 million facebook users, target a range of divisive issues ranging from anti-hillary clinton issues to the debate around immigration and anti-gun control ads. these k says they gave

ads to congress so they could better understand the extent of russian interference in the last u.s. presidentia election. in the run up to the election facebook was more focused on typical cyber security attacks and they were slow to spot this pe of information interference. facebook saying, quote, since then we've made i changes to protect bad actors from using misinfmation to undermine the democratic process. >> it will take more money and time t fix this. we think they've laid out a pretty aggressive strategy to put the company ahead of shareholders and aheadf profits. our belief it won't be a t some l impact given t of the technology can actually do this at a very low cost. facebook outlining ten big changes that the company can make to prevent this kind of manipulation from ever happening again including ad's transparency, verification and labeling of any ads around issues oroliticalic characterist and crack down on fake news. facebook says it understands that the company needs to take a

broader view of its responsibilities and thawi this be a battle it always will be fighting. for "nightly business report," l i'm j boorstin in los angeles. eli lily makes a push into immunotherapy. they are buying immunotherapy biotech armo sciences for more than $1.5n. bill the merger signals eli lily's want to invest. shares ros t 2% 80.86. meanwhi meanwhile, shares of armo biosciences sky rotted to $49.80. the owner of networks amc, bbc and sundanc said viewer ship remains strong for many shows. shares pped 8% to $57.51. the french insurance giant sold its public business.

it debuted a $20 a share. that was below the initial range of 24 to $27. while the company didn't raise as much as had been expected, the ceo toldt sara eisen t believes the value of the business will be reflected in the stock price in the long term. >> i think markets go up and by and pricing is set markets. we can't control that. really what we know we have to do is run our business well, develop good solutions for clients and give good service and over the long term i think the markets will recognize that. the shares finished up nearly 2% to >$20.34. fter the bell chip maker nvidia reported a stronger than expected risend in profits revenue as demand continued to grow for the graphics chips. the company gave revenue guidance for the cuarenter above estimates. shares were initially volatile after hourshey ended the regular session up 1.5% at

$260.13. software company semantic reported improved earnings after the bell but the reports still came up shy of estimates. the company warned that an ongoing internal investigation gave annual results and guidance. shares fell and they ended up 1.5 at $29.18. shares of ford moved odightly higher after the company's chairman told investors that he wants tost ki t the stock. the automaker's annual meeting happened just hours after the company shut down production of its most popular model, the f-150 pickup. il lebeau has more on the trying times facing ford. >> reporter: with production of ford's f-15 nowstopped, the question for customers and investors is how long it will take to get assembly lines runningai once ford is working with the supplier whose plant in central michas knocked out by an explosion and fire last week.

for now, ford has plenty ofck trucks in s but the pickup business is highly competitive. ford m be theleader, but gm is nipping at its heels and ram has been steadily picking up market share. while ford says second quarter results will be impacted by the shutdown, it'seaffirming ful year earnings guidance. the bigger question for investors is what it will take to get the stock moving higher. bill ford, chairman of the automaker, understands the frustration. >> this business can get fitter and it will get fitter and we have more actions to come that will show orthat. >> rr: ceo jim hackett's turn around plan calls for developing autonomous vehicles and mobility services that will create new rev the automaker. >> we'll drive new what we call sticky envenue, r that stays during good times and bad reates profit streams for us. we see ourselves not just as a provider o mobile solutions but

also as an orchestrator of digitaonnections from vehicle to street to business to home. >> reporter: but until ford develops those future revenue streams, it will lean heavily on its truck business and rht now that business is under pressure with production of the f series being stopped. phil lebeau, "ghtly business port," chicago. coming up, the best day to list your house to sell it faster and for more money. hugean d and lean supply makes this spring a seller's market in housing, but that doesn't mean every house will sell quickly or for top dollar. as diana olick reports, there are some strategies every seller should know.

>> reporter: even in a market with next to nothing for sale, timing is everything. listing your home onin a cer day and even a certain time of day may make it sell faster for more money. >> thursday. >> thursdays. >> our market is programmed to look at houses thursday. >> reporr: yes, most agents agree if you list your house on thursday, it will sell fasterd an real estate brokerage red fin ran the numbers on each day of the week also finding thursday is best. why? >> you really want to have the most eye on your property and thursday seems to be the day to do that. >> reporteer most b today shop online first and then and e which homes to visit most do that just before the weekend planning on sunday open houses. some agents though think friday orgets you buzz and urgency at the open house. >> tons of people all excited whispering to each other so that, you know, they don't telle the other peohat they're really interested in it. >> reporter: timing the debut l for yourting is vital because a listing will get five

times more viewsst on the f day than the next few. that's because most listing sites offer alerts to buyers when something new comes on. even the timing of that alert can make a differenceon >> the after is better because on thursdays all o are listing. if you list in the morning you end up actually on page two. >> meyers likes to put her listing at 5:00 p.m. when people get off work and head home to search for a new home. for "nightly business report," i'm diana olick in washington. >> you can findore home buying strategies on our website at r. m. the ongoing rockefeller auction at christie's hasd raise $760 million and is not over yet. last night marked the close of the art portion of the sale s which 14 records and included the highest total ever for a sale of american art. tonight sales are devoted more to furniture and porcain. as we've been reporting, all proceeds from this historic auction of the rockefeller

estate will be going to charity. and before we go, here's another look at the day on wall reet. the d advanced 196 points to 24,739. the nas is up 65 and the s&p 25. added and that does it for us tonight. i'm sue herera. thanks for joining us. >> indeed, i'm bill griffeth. thanks for joining us. we'll see you tomorrow.

>> this is "c world news america." >> funding of thisresentation is made possible by the freeman foundation, kovler foundation, pursuin solutions for america's neglected needs, and purepoint financial. >> how do we shape our tomorrow? it starts with a vision.de we see its form in our w mind, and thene begin to ytisel. we strip away everhing that stands in the way to reveal new possibilities. hat purepoint financial, e