this is "nightly business report" with sue herera and bill griffeth. record finish. the nasdaq closes at an all-time high with some big name tech stocks getting new milestones. new promise. the companies behind cutting-edge cancer treatments that are leading the charge against that d. end of an era. the man who turned starbucks into a global coffee brand is leaving the company, and many are wondering what's next for him and the business. those stories and more tonight on "nightly business report" for monday, june 4th. good evening, everyone, and welcome. i'm sue herera. bill griffeth is off this evening. investors started the week in a buying mood. the nasdaq notched a record

close, its first since march, led by names like apple, amazon and microsoft. a rise in retail stocks also helped lift the dow and the s&p 500. today's gains follow friday's rally which was fueled by better than expected employment report. the dow jones industrial average finished up 174 points to 21,813. the nasdaq advanced 52 and the s&p 500 added 12. well, with markets off to a strong start, let's talk about what may be in store for the major indices for the rest of this week. and we're joined to do that by liz ann saunders, senior vice president and chief investment strategist at charles schwab. good to see you. >> good to see you. >> it seems to be good news around on the economy and on earnings. >> no question about it. the jobs report was gangbusters. the only thing you could find fault with was a little bit of a dip in labor force participation. there are long-term secular demographic reasons for that not

least of which being the aging population. it was over all a good number. i think what a day like today as well as friday's action in the market just tells you that for now, anyway, good fundamental economic news is offsetting concerns that will be ongoing on tariffs and trade. for now i think the economy is reining supreme. that might not exist. >> what does that mean for the market? are there certain things you are going to be watching for this week or looking for? trade obviously is kind of front and center right now but are there other things that you're going to be keeping an eye out for? >> no, i do think trade is front and center. if you look at the last couple of months and you look at some of the more volatile individual days, many of them have been tied to announcements that come on tariffs or trade. and obviously those are moves in the market in both directions. so i think any news on that front will continue to either support stocks on a given day or hurt stocks on a given day. but i also think any change in

expectations around fed policy, i think in the next few weeks and even beyond the fed meeting in june, i think that is probably the most important thing that's front and center in the minds of investors is a trajectory of interest rates as we look into the rest this year. >> and is june pretty much a foregone conclusion that we will see a rate hike? how many more do you expect given the strong economic data and friday's jobs report? how many more hikes do you expect? >> yeah, i think june is a foregone conclusion. it's interesting. when we were going through the turmoil a week or so ago in italy you saw expectations in the futures market dip a little bit even for june. for a little while it wasn't a foregone, i.e.,, 100% chance. that popped up in the immediate aftermath of the jobs report. the possibility of four rate hikes this year, which would be three more in addition to the one that the fed gave us in march, those expectations actually moved back up pretty significantly, not to anywhere

near 50%, but they moved up in the aftermath of the jobs report. we've been saying at least three this year and our calculus on that being the most likely look for fed policy hasn't changed in light of friday's number. >> you know, there are those who kind of are hand wringing about the fact that we might get those four interest rate hikes, but on the other hand it means the economy is strong enough to take those hikes, correct? >> yes. i think that really what you have to look at is inflation and inflation expectations. there's kind of a double risk here. i think if the fed sort of continues on this path, doesn't move beyond what they telegraph and where the expectations bar is, i think we're probably fine. there is a risk, of course, if they pare back the pace of interest rate increases in the face of rising inflation, then the risk is they're seen as being behind the curve. of course, there's the other side of that which is if they continue to move and they end up at four hikes this year but the inflation data does not support that, that's a risk that the

market views the fed as going a little bit too far. but i think the current balance between the data we're seeing on inflation and expectations for fed policy is probably about the ght recip for the market in the near term. >>n l a saunders, thank you so much. >> thank you. >> she's with charles schwab. shares of microsoft meanwhile hit a 52-week high on news that the company is buying the coding website github for $7.5 billion. they hope it will help others create cloud soft wears. it's a way for microsoft to challenge amazon. this deal is similar to past acquisitions. >> what we have done with minecraft, what we have done with linked-in give us confidence that we can, in fact, acquire, grow, have these communities thrive. those will be things we'll look for. it's not that we have speeded up or slow down but we'll go by

those three criteria. is it a growing market? can we add value? can we integrate it well? >> investors like the acquisition sending the stock higher in trading today. shares of fellow dow component apple closed at a record. the stock hit that milestone on the first day of the company's developer's conference and at that conference apple addressed a controversial topic surrounding its flagship iphone and that is smartphone addiction. josh listman has the story from san jose. >> it's become such a habit that we might not recognize how distracted we've become. >> reporter: at the apple worldwide developer conference the tech giant revealed new ways for you to spend less time on your iphones and ipads. >> today we're announcing a comprehensive set of built in features to help you limit distraction, focus and understand how you're spending your time.

>> reporter: the features will be included in the new iphone i0s update include a do not disturb mode, a setting that allows you to sleep without being disturbed by incoming messages or e-mail alerts. this feature can also be applied during the day. another way you'll soon be able to cut back on your screen time is a feature called time limit allowing users to set usage limits on individual apps so if you spend too much time on something like instagram, your phone will alert you. and soon you'll be able to receive a weekly report that shows the amount of time spent on different apps. there has been a big push from the investor community for apple to do more when it comes to customers' digital well-being. the debate began earlier this year when barry rosenstein raised the issue. the apple investors who collectively own $2 billion worth of the stock argue that teenagers spend too much time on their smart phones and apple needs to do more to combat this iphone addiction. they responded to the news.

while we will review the details and apple's follow through will be important, this looks like a clear win for parents and families as well as shareholders given that this should strengthen apple's ecosystem for years to come. the i0s update will come in the fall when parents get the power to control the amount of time that their kids spend on iphone apps. i'm josh lipton, san jose, california. apple remains in the lead at $942 billion. amazon is second and alphabet rounds out the top three. microsoft is in fourth place, by the way. dow component mcdonald's is modernizing its business. the company plans to order self-order kiosks to 1,000 stores each quarter. markets like canada, australia and the u.k. have kiosks and mobile ordering. the ceo says he expects the investment in the u.s. to pay off. >> if they want to dwell, have a little bit more time then go to

a kiosk, they can browse through the menu. they start selecting and see the broader ranges or they may want to customize the food they've got. you can also pay clearly on credit/debit there. you can receive table service. take a little tent card, take it to the table and we'll bring your food out for you. so what we are finding is when people dwell more, they tend to select more. there is a check boost as well. >> investors liked what they heard sending the stock higher in trading today. a battle is brewing between dow component boeing and two of its largest suppliers. today boeing raised the stakes by announcing it will start building a key component that for years has been manufactured by honeywell and united technologies. that lifted shares of the stock by about 1%. phil lebeau on why boeing is branching out. boeing is best known for building some of the most popular commercial airplanes in the world, but increasingly it's

looking to boost profits by making and servicing the guts of those planes. the avionics and key components from the cockpit to the tail. the company's latest move is a joint venture with the french aerospace firm saffron. together they will build and supply auxiliary power units used primarily to start up planes parked on the tarmac. the apu area is dominated by honeywell and they've grown their bottom line by offering apus to a wide array of aircraft systems and services to the airline and cargo operators who spend billions on new planes. it's a lucrative business with healthy profit margins, which is why boeing ceo dennis mullenberg wants more of it. as he told us in april, boeing is actively looking to make deals that will grow its services division. >> so where we can find strategic acquisitions that

complement our organic services, that's a top priority. >> reporter: last year 1/4 of boeing's revenue came from the global services division, a percentage that the company expects to increase, especially given the backlog of orders and the ability to sell more components and services to customers. phil lebeau, "nightly business report," chicago. howard schultz, the architect of the modern starbucks, is severing all ties with the company. his departure is effective at the end of the month. the news sent the stock initially lower in after hours trading. andrew ross sorkin broke the story and has more from seattle on schultz's departure. >> reporter: it is the ends of an era at starbucks. howard schultz, the executive chairman of starbucks, announcing he's going to be stepping down from the company and the company's board at the end of the month. of course, howard schultz built today's modern starbucks from just 11 stores here in seattle

to 28,000 stores in 77 countries around the world. the announcement coming a week after the company closed down stores for four hours in the united states for an anti-racial bias training program after an incident in philadelphia. mr. schultz had planned to step down in may but his plan was up ended by what happened in april. his decision to step away from starbucks likely to fuel speculation he could run for president in 2020. he has been quite outspoken on be a number of big social issues and his name is often bandied about among a number of executives. in a letter to employees today, schultz said i'll be thinking about a range of options for myself, from philanthropy to public service, but i'm a long way from knowing what the future holds. in an interview with me in "the new york times" he said, quote, i want to be truthful with you without creating more speculative headlines. for some time i've been deeply concerned about our country, the growing division at home and

standing in the world. one of the things i want to do in my next chapter is to figure out if there's a role i can play in giving back. i'm not exactly sure what that means yet. in the meantime mr. schultz says he plans to run his family foundation and write a book about corporate social responsibility. for "nightly business report," i'm andrew ross sorkin in seattle. it is time to take a look at some of today's upgrades and downgrades. evercore isi is telling clients to invest in macy's for the long haul. they say macy's is figuring out how to manage inventory. they raised the earnings estimates on the company for this year and next. the stock gained 4% at $37.10. whirlpool was upgraded to outperform from neutral at credit suisse. the rise in appliance prices should help input appliance costs. the price target is $195 and the stock rose to 2% from $149.22. prudential financial was

upgraded from buy to neutral at target is $117. the stock rose a fraction to $99.17. that same analyst at goldman sachs downgraded shares at metlife to neutral at buy. they see a dropoff in buy backs in the second half of this year. the price target is $52 and the stock finished lower at $46.33. still ahead, medical advancements in the fight against cancer. it may seem counter intuitive to think that a recession could be on the horizon, but that's exactly what some economists are saying. even as growth picks up and the unemployment rate falls.

steve liesman explains. >> reporter: the national association of business economics had a survey they conducted before the friday jobs report showing that strong job growth is expected to continue. for the next two years they expect above trend gdp rates and unemployment falling further below 3.8% reported this past friday, but some economists and market watchers see a warning sign in that low unemployment rate. >> when we see unemployment under 4%, around 3%, 3.5%, the last time we saw that, that is a signal we're getting towards the end be of a bull market. we're coming into our ninth year of a bull market and these usually do tend to turn around and slow down as you can have some wide deviations. as we move forward and rates go up, we may take a breather. >> a look at the past seven years shows unemployment bottoms out months before recessions start. sometimes it's a full year and sometimes it's just a month.

on average, unemployment hits a low a little less than 5 1/2 months before a recession starts. that recession can often be created by federal reserve interest rate hikes designed to cool an economy that it deems to be running too hot and risk inflation. will it happen this time? the fed currently forecast interest rates will rise above neutral rate which means it expects to lightly put the brakes on. that doesn't mean a recession is inevitable. the majority of economists don't see an inflation until 2020. no one at the fed seems ready to panic. they plan modest unplamt rates. if the fed gets spooked, recessionary history could, unfortunately, repeat itself. for "nightly business report," i'm steve liesman j southwest books fewer business passengers.

southwest said the drop in ticket purchases would cause a measure of revenue to fall 3% this quarter, but it seems as though investors were expecting a steeper decline because the shares finished up more than 1% to $51.65. nectar they arapeutic saw billions of dollars shaved off of its earnings after disappointing trial results fm e experimental skin cance drug. the latest finding shows that patients with melanoma are not responding as well as past patients do. shares plunged falling nearly 42% to $52.57. after the bell cupa software said an increase in subscription helped overall earnings improve and top expectations. the company gave guidance for fiscal 2019, the beat. the shares were volatile but finished the regular day up 2%

to $55.33. asena retail expected smaller than normal earnings. the owner of ann taylor did give a profit outlook that was short of estimates. the shares sold off in after hours erasing a 10% gain from earlier when shares closed at $3.66. pioneering research into cancer treatment was on display at the world's biggest cancer conference. it's an event that the medical community and investors pay very close attention to. meg tirrell is in chicago tonight with a look at the companies leading the fight against the disease. >> reporter: the world's largest cancer research conference, afco, drew 20,000 doctors, researchers to the event to hear about the latest advances in treating cancer. the conference moved stocks as the biggest drug maker.

a new one is merck, best toll myers, squibb, astro zen neck ka. keytruda improves survival for noncell lung cancer. bristol-myers said in an interview that its drug looks likely interchangeable with mercks. >> when you look at the totality of the data, meg, there is really no difference between those two medicines. >> reporter: merck's head of research disagrees. >> there are no comparable data. no other agent has shown improvements in survival and not small cell lunge cancer. >> another was a major trial and breast cancer. it assesses whether chemotherapy is necessary based on genetic risk. >> the child shows us if a woman ha intermediate risk score, she gets no befit from chemo.

nobody wants it. >> based on the results they'll feel comfortable knowing most patients avoid it. >> it's hundreds of thousands of women that will be impacted. >> so experts said it's a promise of the personalized medicine. i'm meg tirrell in chicago. and that breast cancer study that meg just referenced was funded in part by the postal service. yup, proceeds from the breast cancer stamp put researchers over the top financially when they were trying to get enough money to do the landmark study. the american cancer society said without that stamp money, the study may never have been done. coming up, a health care job that's in big demand. more and more baby boomers are choosing to age at home and that's creating a boom in home health care. we'll tell you about it on

"nightly business report." global airlines are cutting the profit outlook, this as fuel costs rise. the international air transport association is warning that higher interest rates and geopolitical troubles will add to the risk. the global economy will lift passenger yields which is seen as a proxy for airfares. it will be the first annual gain since 2011. well, the u.s. economy created a lot of jobs last month. as we reported on friday, a bulk of those positions came from the health care sector and demand for health care workers, especially home health care aides, is expected to skyrocket as the population ages. kate rogers is in south orange, new jersey, tonight.

>> reporter: for aneika fowler, being a home health aide is an opportunity to make a difference. >> when you walk into the room, you introduce yourself and they lit up. and that's a lot for me. >> reporter: the 39-year-old isn't alone. some 3 million personal care and home health aides are employed today, and that number is expected to increase by 41% by 2026 according to the department of labor. >> it is considered the fastest growing area of employment over that period of time. so the demand will grow as we see the aging of the population. >> reporter: companies like home watch caregivers are recruiting heavily, eager to serve a growing number of clients. >> every single day 10,000 seniors turn 65 years of age in the united states. over 90% of them want to age at home. that demand is driving a huge amount of growth in our sector. >> the company employs 5,000 home care experts but finding

the right aides can be a challenge. >> the best caregivers can handle the emotional content and it makes their lives easier. >> reporter: the industry faces an array of challenges including a shortage of aides like these ladies, steady opportunities and low wages. to remain competitive they give background checks, train their workers via an online course and they hire staff as w-2 employees, not contractors, and offer benefits including insurance and a 401k plan. on a typical day she may help a patient get out of bed. >> on the count of three i'm going to lift you up, okay? >> uh-huh. >> one, two, three. >> reporter: check their vitals. >> very good pulse. >> reporter: or perform even lighter tasks, like just keeping a patient company. but her most important job, being compassionate. >> i love it. i love it, love it, love it.

i love being a caregiver. i love giving care and i love the fact that when i give the care, the clients or, you know, family members, they appreciate whatever little i do. >> reporter: for "nightly business report," i'm kate rogers in south orange, new jersey. and before we go, here's another look at the day on wall street. the dow rose 178 points. the nasdaq advanced 52 and the s&p 500 added 12. and that is "nightly business report" for tonight. i'm sue herera. thanks for watching. we'd like to remind you that this is the time of year your public television station seeks your support. we thank you for that support. have a great evening, we'll see you tomorrow.

steves: belfast, just a couple hours north of dublin, straddles the lagan river. it was only a village in the 17th century. but with the influx of scottish and english settlers and the industrial revolution, which took root with a vengeance here, belfast boomed. while the rest of ireland remained rural and agricultural, belfast was nicknamed "old smoke."

shipbuilding was huge. this slipway was the birthplace of the titanic and many ships that didn't sink. the neighboring dry dock is where that ill-fated ship, the biggest manmade moving object of its day, was outfitted. nearby, two huge cranes, once the biggest in the world, nicknamed samson and goliath, rise like skyscrapers above the harbor, another reminder of this town's former shipbuilding might. in 1888, queen victoria granted city status to this boomtown of 300,000, and soon after, its citizens built belfast's centerpiece, city hall. with its statue of queen victoria scowling down belfast's main drag and the union jack flapping behind her, it's a stirring sight. queen's university is also from the illustrious reign of victoria. its backyard is an inviting public park, particularly relaxing on a sunny summer afternoon. the palm house, an early example of

an iron-and-glass greenhouse dating from the mid-1800s, gives you a lush and humid jungle experience right in belfast. also in the garden is the ulster museum, the city's one major museum. you'll find a fascinating made-in-belfast exhibit under an arch proclaiming, "trade is the golden girdle of the globe." exhibits explain how belfast thrived in its glory days. the linen industry employed thousands. belfast workers made products from flax, like canvas and rope, which contributed mightily to maritime commerce. massive ships made in belfast were commonplace from seattle to shanghai. it feels like a new morning in belfast. it's hard to imagine that this bright and bustling commercial center was once a tense and subdued security zone. today there's no hint of security checks, not long ago a tiresome daily routine.

>> this is "bbc world news america." >> funding of this presentation is made possible by the freeman foundation, kovler foundation, pursuing solutions for america's neglected needs, and 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 everything that stands in the way to reveal new possibilities.