>> this is "nightly busins report." critical week. historic submit. a possible interest rate hike. and key economic data. they could all determine more fuel gets added to the rally. not in the room. president trump and kim jong-un are getting all othe attenti but china could decide whether the summit is asuccess. aging in place. why it's important not only to decide when to retire, but also where to spend your golden years. tonight ries and more on "nightly business report" for monday, june 11th. we do bid you good evening.e one of biggest weeks in recent memory and most calling he the most important week of

the year for world comil. first up, of course, the etween c summit president trump and north korean leader kim jong-un in singapore. then three of the most powerful central banks have meetings scheduled. our own fed is widely expected to raise interest rates during its gathering this week. and new data released along with the retail sales curve and the major averages to new ghs. today was very much a wait and see kind of a day ahead of aof hose events. the dow average gaineded about five points. the nasq up 14. s&p gained will 3. bob has more now on what inve iors can expectthe days aread. >> reporter: thekets are cautious ahead ofnef wall street's busiest weeks this year starting with donald trump's historic summit with kim jong-un in ending withan three key meetings. one on wednesday and one on thursday and one on friday.p

the bank sould be set to rally and many are expecting the month raise rates this and the ecb to signal a start to unwinding its own era of easy money. add a pile of economic data from inflation reports to retail sales and industrial picture. not much cow keep them for now. the right kind of leadership is powering the markets. fngs have joined the party now. ch and financials are more than 40% of the s&p 500 and energy is holding onnd a retailers have surged as commentary has gotten strong. second trade talk is confusing but hasn't sparked any tantrum in the market just yet. many believe it's not eminent and traders numb to the endless tweets. th is perceived to be on top of things but not overreact, not raising rates too fast. job performance is good and wage growth isood but not overheating as steadys she goes with gradual tightness.

fourth be. the u.s. gross outlook is solid and they have rallied 5% off may lows and -- perceived to be interest rate sensitive and they are but cyclical and they are helped by betterroconomich as well. for the moment, a lot more upside thande there is down with many political and economic ents on the calendar how should investors separate the noise from what really matters? joinings to talk about tha is kenny director of thek new y stock exchange florida division at o'neill securities. great to see you again, kenny. welcome back. >> thank you. e, great to see you as well. >> i think that is the question. so much headline noise outth the week. >> right. >> if you're a longer term tvestor what should you do? >> you have eliminate the noise, right? certainly for the long-term retail investor. e worse they can do is concentrate on everything we are describing as nois look. the g7, as significant as it is,

is noise. the u.s. and north korean summit, okay that is all well and good and historic, but really nothing is going to be accomplished in a two-hour meeting that trump and kim jong-un are going to have in two hours. right? at 9:00 p.m. our time. therefore, as long as the news isn't negative, as long ashe th lines aren't negative about that meeting, then the market will be okay. right? what people should be focusing on is get rid of all that and fu should be focusing on as bob and you said, teral reserve, what they say on wednesday, what the ecb says on thursday and what the bank -- says on friday along with the broader macro dat which is really going to be all of those events is what price starts, righ is in the noise. g7 and the summit are not going to price stocks in the long term and just cause investors to get anxious. >> the expectation ishathe fed raises rates on wednesday for the second time this year. >> right. >> we wait to see what they might suggest about the future. what do you expect rates to do?

how do you position yourself with interest rate vehicles right now? >> so look. we have been talking about this a lonottime. you'reoing to necessarily position yourself for the news coming out on wednesday. you would have already started to do that, right? it's well -- it's been well scussed that rates are expected to go up this week on wednesday, 25 bases points and if you're buying into the story what rates are doing in september, then your positioned probably. financials will do well in a r risie environment and if they come out and talk about the strength of the economy, then you have totart certainly looking at the other sectors. tech is always going to be stro and i think absolutely remain strong. like bob said, retails are, all of a sudden, starting to lift their head. energy has performed very well and will continue to perform well and in an economy that is . stro i wouldn't be making any major changes ahead of this news coming outn wednesday. now, if they come out and they say that there isou ah rate hike in the works, then this

might cause a little bit of anxiety for the market but it depends on how they position . >> one of the other big events this week is possible decision on the time warner deal, the time warner/at&t deal. what are the impthcations of for investors and depending on what happens, what does ito to t merger and acquisition landscape? the one thing it's tt sector specific, right? it's television, media that is the sector that is going to react one way or retails don't care about what happens nor does anybody else. here is the deal. i think the time warner deal prilsed 3 a share and time warner closed around 97 dollars and leaves a little bit of room at investors are a little bit cautious that it could can geither way. t deal -- if they block the deal certainly look for time warner to back off.ly prob back to somewhere low to the mid-80s. watch alsoor telephoneo back off because of the opportunity lost, right? then i think it's going to talk about that wholesector, the

comcast/fox deal in the wings waiting for this decision is either going to be on or off, right? if they blockhis merger the deal is off or let the merger haten then exp comcast will make a bid for fox as they have indicated they are going to do. >> tha you,kenny. >> thanks, kenny. >> as always. he is wllh o'n securities. bill? >> investors across the globe will be watching and waiting to see what happens in singapore wh the leaders of the u.s. and north korea meet there but another country that could influence the talks as well. one that will not be in the room with theatwo leaders. ountry is china. ere is our report tonight from beijing. ♪ >> reporter: beijing won't physically in the room but its presence is already felt at the summit. the most obvio symbol is the image of north korea sim

congre -- kim jong-un arriving on a china owned plane from beijin the chinese havingalncouraging ue and denuclearization and said today china hoped to see a positive result. china and the u.s. have a lot of issues on their plate like trade andov north korea, rg north korea as a regional security concern would be in president xi, interestmf but discot that china doesn't have direct control over the proceedings. fo.s years the. is trying to resoe issues with north korea through a diffe nt framework the six-party talks with chinap ing a broker role. so this is unfamiliar territory for chin if china doesn't like the outcome of the summit, it does ve an ace up its sleeve. beijing has economic leverage over pa pyeongchang. if beijing doesn't like the deal, it has the ability to undermine it by easing up on pressure on north korea.

while much of the world is, indesi, focused on pnt trump's summit in singapore, there is growing concern about his threats to slap a tariff on vehicles imported from canada. some of the most popular cars an trucks and sufficients are built noro of the border s here is more on what is at stake if tariffs are slapped on those vehicl >> reporter: the next time you look for a newcar, truck, or suv, lookse c at the stick on the window and you'll likely find it was built in canada. chrysler minivan and chevy suvs and ford flex all roll off i assemble lin canada. more than 11% of the vehicles sold in the u.s. last year came from our neighbor to the north, which is one reason the u.s. runsnd auto trade deficit of almost $27 billion with canada. that wrinkles president trump and when the g7 meeting turned

contentious president trump said i have instructed our u.s. reps not to endorse the communique as we look at tariffs on automobiles flooding the u.s. market. canada's prime minister is not backing down. >> i stand ready to work closely with the president to resolve the dispute swiftly but i have d consistently s i will always protect canadian workers and canadian interests. >> if the u.s. puts a tariff on vehicles built in canada, it's hard to pdict what it will mean for car and truck prices here in the u.s. some estimate prices could rise between $400 and $2,000 per vehicle but so far auto executives are treating the trade tension with canada much as they have the trade tensions with mexico. in short, aomakers are taking a wait and see approach. until the trump administration imposes tariffs on vehicles froa da, the auto industry will

plan on continuing to import millions of voricles from of the border. whi automakers are taking that wait and see approach, some restartingnies are their factories thanks to changes in trade policies and an crease in demand. but the decision to start up production again isn't without risk. jackie is in granite city, illinois, for us tonight. ♪ >> u.s. steel blast furnace b in granite city, illinois. employees said you could hear a pin drop here and it's been idle since 2015. now it's up and running and the energy is palpable. in march of this year, the company made the decision to restart this facility. in part due totrong demand, but also because of president trump'sio dec to impose tariffs on imported steel and aluminum. >> we ar actually now seeing our government stand up for the steel workers and this is a t really goong for us. we will have to see how building

all plays -- this all plays out but we think this is first step and maybe canada and mexico and others will come to the table. we have seen the south koreans come to the table and actually not had tariffs but putting in place some quota so this is a good first step. >> it took 12 weeks to get this furnace functional but now it's part of the process of manufacturing of washing machines, refrigerators and auto products and tube la pipes. a lot of the excitement here is coming from employees. 50 people will work here. many of them rehired who had lost theirjobs. some of them new hires. when blast furnace a comes on line in early october, another 300 more jobs will be >> it's comforting, i guess, to be back to work big change. it means everything to people here. you knowur their secy for their family, health care, retirement plans for some p so it's a big deal here. a lot of people excited to be back to work.

a lot of new jobs being created. one of the things i think that is overlooked sometimes, obviously, big impact for e st but there is also, like me, i'm a brick layer. >> reporter: u.s. steel says the restart of this facility is important becauset's representative of action to help revive the industry but actioto evive one industry could hurt another a study byhe trade partnership finds that the tariff quoted in retaliation would increase thea al level of u.s. steel and aluminum employm mt bye than 26,000 jobs over the first three years. but would cost other industries more than 400,000 jobs and 16 jobs lost for every steel aluminum gains. the tasury department imposed sanctions on three russian individuals and five companies today. the u.s. shes worked with moscow on ways to conduct cyberattacks against u the.

and its allies. the designation prohibitsen american cit from engaging in transactions with them. the white house had b russia for a global cyberattack in february that it says cost billions of dollars in damag tim to take a look at some of today's upgrades and downgrades. we begin with conoco phillips. the potential for increased stock buy-backs and dividend gronel. price target $78 and stock grow. to $74.49. jeffreys is looking at energy companies in thee and upgrad upgraded -- to buy from hold. an improved potential outlook and dividend hike there as well. price target$107. the stock rose nearly 2% to $87.25. that same analyst of shares ofround graded oasis petroleum to hold from

buy. after a 50% rise the past three months. the pri target is $14. the stock closed just below that level at $12.87. first data was upgrade to do buy freual at gold mman sachs. the stock up was2% to $2.48. still ahead, the multibillion dollar video gam industry is powering up as some of the playe ar todayds the official ends of the regulations that governor ilvern the internet. the rulesy known as net neutrality said that iidernet

prs could not block owe slow down websites or prioritize some kept over others. the repeal was led by the current chair of the fcco, wh today, said that customers are not going to see anyhange at >> from this dayar fo i think our interest is making sure that we have a prenewspaup there. talking to consumers from los angeles to the reservation in south dakota to a couple of weeks ago in georgia. this is the framework lead to the bettert internet t consumers want. >> they vote to roll back the rules occurred in december but took time for them to be implemented which is why they are conspiring today. brian roberts was asked about the internet rules and he said thatis company does not block or throttle traffic and that he supports an open internet. he also commented on comcast interests i some of the sets of 21st century fox and, more broadly, the potential for growth through a >> as we discussed during our

recent conference calls and webp cast,tunities arise for us to create more value for our shareholders like we did with nbc universal. our current offer for sky, a as we our announcement last month that we are also considering and advanced stages of repain offer tha fox are selling are perfect examples of this. importantly, we set the bar high. we haven't been and will remain disciplined. >> the bid for fox assets could hinge on the outcome of tomorrow's expected ruling in that at&t time nesl anti-truanti -- warner antitrust bid. comcast is the parent company of cnbccehich pro this program. the gaming individual is rising ask. industry prices are upo and are stock prices but the

industry is undergoing a lot of changes and thatas evident at the annual e3 expo that attracts some of the in the business. julia boorstin has >> reporter: attract new fans atick out from the crowd. microsoft xbox presentation unveiling new and exclusive content and easy access to it. microsoft showcas 52 games including 18 exclusives for the x-box console and announcing it's buying a five game studxbs. ox is adding more games and features to $10 a month game pass subscription. miosoft head of gaming phil spencer sayg the services changes will accelerate its growth. >> what we are seeing today in game pass is an expansion in scribe subscribers but who play more games. for the industry it drives higher engagement across more franchises. >> one game everybody t isking irre at e3 is epic ford night

and gone val thanks to the ability to play with big groups of people and also across both consoles and mobile devices. the success is prompting console makes to make changes to support that game play and prompting val game makers to make change to take it on. >> we are continual working with epic to g make thate even bigger. they are doing esport work this year. us. a huge hit for >> in response to the success, game maker giant electronic arts announcing it's launching a battyale mode for battlefiel 56 and enable massive groups of people to play like for night 100 person mode. >> it's becoming popular and not just fort night but in other games as well. for major plishers to respond quickly to adapt their games to this trend i think is a smart move and not much at risk for

them. >> reporter: electronic arts announcing a subscription service. acpcss pler for games as more game makers start to embrace this model to bring new revenue and keep gamers hooked. i'm julia boorstin i los angeles. boston scientific is reportedly a takeover target and that is where we begin tonight's market focus. "the wall street journal" says the medical device maker strick made a bid forts rival. a potential deal would create a company worth more than 1 $10 cillion. bosktific would not comment on the report. shares of boston scientific rose 7% to 3432. shares of stricker off 5% t 16978.un ed airlines said passenger traffic was nearly 7% higher in may versus a year ago. investors seem to like that news and sending the shares up 3% to $72.15. california state officials revealed some of the wil sires in thate last year that

killed 46 peopley were caused power lines operated by the utility pacific . officials alsore said t is evidence that pg&e violated stated laws and they may facel lessues at some point. their shares fell. dave & buster reported axp smalr thanted decline in same store sales after the bell tonight. the restaurant and gaming qhan gave guidance for the year that line with estimates and announced that its colorado is retiring but remain as chairman. shares were higher in the extended session and finished the regular day up a fraction at $47.83. also after the bell tonight, rh, known as restoration hardware top estimates ahead of expectations. shares were initiallyher and after hours they finished the regular session up nearly5% to $118.73. to coming up, do you wan

age in place? well, then you also need to consider aging in the right place. r the goverf new jersey signed a bill into law today that legalizes sports bting at casinos and racetracks and the law will generate about $13 million for the state in the fi last month, new jersey prevailed a supreme court case which struck down a federal law which had limited portswagers. new jersey's law follows a similar one in delaware. > the head of walt disney animationnd cofounder of pixar is leaving that company. e is exiting at the end of th year he was creative force of movies like "toy story "and "frozen"

and "finding nemo." the decision comes after a six month leave of absence forr lasshat he described as personal missteps. being able to afford to stop working is important in deciding when to retit. ou also want to consider where to live to make sure you're aging in the right place. our senior personal finance horrespondent sharon epperson joins us now w a new report on the best and worst cities to retire to. it's great to see you! >> b good here. >> great to have you here. if you're trying to to decide where to age in place what are the factors we should all take into consideration? >> we should all take noorgs because the majority of americans want to stay in their home and stayn their own community. and some of the things to onsider a new survey out b magazinive money looked at these factors such as lifestyle, you're voluming and how much you're gauging e ingi inengagin commndity and cost of living renting or owning on a fixed

income so very important. also medal quality and cost. medicare does not pay for everything when you're adenior many seniors don't realize that and need to know how much is coming out of pocket so t was a consideration. and also access to assisted living and that includes home health care providers as well as community centers that allow you to kind of age in place there and get assisted living as you need it. >> bearinghat in mind what did the survey say about the worst places to retire? da>> sun and sand in flo is not necessarily the place you want to go to retire and miami did not do well on the list. a lot of that had to do with the fact that miami is one places where people are not able to get quality medic perhaps at the lowest price as the other 50 largest cities in this survey. the worse was new york city. and cost of living is a mainly factor there and also access to volunteend those lifestyle

eogagement statistics make say are important soe are looking at for you as you are volunteering and looking out for other people. >> what about the best places? where are we going, bill? messed, denver, and salt lake city did very well. portland, oregon was the top contender and a lot it has to do with the share of people more than any other city saying that they wanted to move there. 65 and older if i'm going to move i'm moving to portland and they are choosing tgo there. the cost of living is very good. health care services very good. and those are majoreasons why people want to go there. >> now we know. nl right, sha epperson, thank you. >> my pleasure. >> to read more about retiring in place head to our website nbr.com. justify made histo over theweekend. i hope you saw that after winning the triple crown. the 3-year-old colt's value skyrocketed to $60 million with the potential to go even highert forbesated that justify could demand an idtial s fee

$100,000 depending on the racing performance of his fsing. the value could climb. justify was purchased, are you ready? for $500,000. >> here is how stocks fared ahead of the u.s./north korea summit. nasdaq up 14 and s&p 500 gained about 3. so that will do it for us tonight on annbr. for joining us. >> i'm bill griffith. age in place. a wonderful concept. see you tomorr. i

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