ssses. this is "nightly business report" with bill griffith and suz he sue herrera. >> some investors can thdo. dow managed to avoid i longest losing streak in more than four decades. now investors wonder, what next? > opec agrees to pump more oil. kind of. the deal sent energy shares spiking and oil prices jumping. pumping the brakes. the white house threatenss tarin all european cars and that could make your next bmw or audi much morens expee. all that and more on "nightly business report" for friday, june 23rd. geepg and welcome. i'm tyler matheiln in for b brewer. >> the broader market rally

today on all street, the underpinning for that, energy shares rose. exxonmobil and chevron each up more than 2% after opec's decision to rai output. only moderately. that in turn also sent oil up the most in one day since november 2016. brian sullivan is in vienna tonight. >> opec did what president trump wanted it to do but likely didn't get the result he was looking for. trump tweeting today hopell ope ncrease output substantially. need to keep prices down. the group did agree to increase output by as muchs one million barrel az day, but oil prices rose instead. oil analysts says it's because the actual increase will be lese thaneadline suggests. >> it's going to be less than that because ty've already been in some of the countries have already been producing more than agreed.

the increase would be fractional. >> the way they made the move may have contrpruted to the e jump. instead of coming out and saying it was raising output by a specific number of barrels, opec hastead is real estate lying on a formula t allows its 14 member nations plus ten others to back offf earlier agreed to cuts. that's only a win for those countries who are able to pull u pump me oil. some, like venezuela why and mexico, are facing big, long-term drops in output. >> there are going to be winners and losers. ere are going to be some guys that can step up their production and take advantage, and other guys that won't beip able to paate. >> regardless of whomo produces re oil and by how much, president trump can tout the fact that his pressur h on opec mae rkd who, and opec nations that wanted to produce more oil get their wish as well. it's more than just about the numb of barrels of oil. in reaching unanimous deals ded the worldem that it remains a unified group at a time when many people are aying the cartel has lost its

power. i'm brian sullivan, navi austria. meantime, on wall street the dow, bruised and batt ied, snappe eight-day losing strike. contesa mentioned at the top of the broadcast, that rise in energy ssres helped lift sto overall. the dow up 119 points to finish the d and week at 24,580en the nasdaq the other way,wn 0. bob spasani has more on what's ahead nextweek. >> stocks were mixed in friday trading, but the dow ended up triple digits managing to avoid itgs longest los streak in more than 40 years. several key factors cropped up stoc that started the day. stronger manufacturing data for europe's help.sm optiver opec's production cut deals. ve results for the banks from the federal reserve stress test and even soms.mur murs of fficials potentially wanting to restart trade talks with china. the sectors that led the cha,e early banks and retailers and semiconductors, all lost

steam later in the session, with tech stocks being the first to over. the nasdaq started the day higher, but quickly we want anythingtive and closed down for a secondtrght day. energy was a big winner today. crude oil prices surged about 5% following opec's meeting in vienna where major oil producing nations agreed to raise production, but by much less than expected due to pumping constraints. that's positive for oil prices and that means global supply will remain on the moderate side for now. next week trade issues will still hang over the market,e bu onsumer will also be center stage with the focus shifting to earnin from home builders like lennar and retailers like nike. plus housing and consumer sentiment reports. i'm bob ypasani at the nk stock exchange. now we're into the summer season. what do we expect? more chohiness or smo sailing ahead? we're joined by nancy, financial officer at heartland financial. great to talk to you today, nancy. wh you look for opportunity in all of this volatility?

>> thanks, contesa. it -- contessa. we can recount all dozens of ways resale hesales, consumer well healed, leading economic indicators are ,hi business confidence up. yet, the market doesn't -- it's not translati into the market. we expect to see that continue during the summer. the good news is -- the good news is for investors that this is a great time to upgrade the quality ofour holdings. we've had much stronger earnings than we've seen in decades, and yet, stocks have contracted. you'reetting strong earnings and revenue growth at cheaper prices. >> let me ask youqu two tions. i you want to pick up on that thought of upgrading your holdings and what tha mean let me start by pointing out go you pointed out. nasdaq up 11.5%. 3%. s&p so far this year up dow is roughly flat. why does it feel so much worse than that? >> tyler, i actually am

exhausted. >> yeah. >> yet, this is exactly what i've experiencedgh most of my career. up.ets don't go straight they constantly are climbing a wall of worry. it's ade, and it's the fed. every time -- remember, in the short-term, the market is driven m the algori on the floor, and they read trade tension or fed chairman owell thinks the economy is robust and they translate that in the short-termou i want to ege your viewers to be focused on the long-term and to use this as opportunity to buy high quality companies for t next three to ve years. not for the next three to five months. >> what are you looking at when you are lking for a high quality company? >> yeah. the industry leaders are a great place to start. if you can have -- if you can get the oppornity to buy stocks like federal express and home depot and amge i inealth care and then many of the tech names like microsoft and inteli and at these levels, even

google and facebook, though we've t beenmming those stocks, are not overly expensive. i've heard many argue that valuation doesn't matter and that you should buy what's working. that's absolutely not what i believe. valuation, cheaper stocks that are growing andon have s balance sheets are much better for the long-term. for sharing so much your advice with us, nancy. you.to hear from >> thank you. >> nancy with heartland financial. meantime, trade tensions are an going back drop for the market, as nancy just mentioned. today theuropean union began enforcing their own tariffs on nearly $3.5 billion of american imports. kayla breaks it down for us. >> reporter: tariffs on steel and aluminum went into effect three weeks ago, but today europe is striking back slapping stair every tear ofs on bourbon, peanut butter, motorcycles and play tg cards. thal is just $3.2 billion in u.s. exports, but it comes fr politically sensitive

states like kentucky, wisconsin, and florida. the e.u. commissioner for trade cecilia mounstrom said we did not want to be in this position. however, thend unilateral unjustified decision of the u.s. to impose steel and alum pneumonia tariffs on the e.u. means we are left with no other choice. needless to say, if the u.s. removes the tariffed, our measures will ao be removed. the measures from europe are just one arrow aimed at the u.s. in respoe to its ste and alum pneumonia strategy. china in may stood down onn tariffswine, nuts, and fruit as it struck a truce with the u.s., but that's over now. can't takesnch from effect july 1st, and mexico said it would i retalia early july after its elections. president trump has said in this tit for tat trade dispute, any country that fights back with tariffs will just get even more from the u.s. i'm kayla in washington. well, the war of words didn't end today the president threaterned a massive tax on all european

car imports, and as p l la bow tells us, that means the price of bmw's, mercedes, and other european cars could. skyrocket >> reporter: u.s. dealerships selling european cars and suvs, there is a growing concern about howuch more they may have to charge customers. that's because president trump is once again targeting them, tweeting based on the tariffs and trade barriers, long-placed on the u.s. and itsco great anies and workers by the european union, if these tariffs and barriers are not soon broken down and removed, wel w placing a 20% tariff on all their cars coming into the u.s. build them here. even though bmw, mercedes, and volkswagen all have u.s. plants that build cars and suvs sold in thenited states, european made models accounted for almost 7% of the vehicles americans bought last year. almost 1.15 million altogether. all of them coming in with a

tari of just 2.5%. racheting that tariff up to 20%, adding thousands to the price oe models could kill sales. the threat comes just days after the swedish automaker volvo ened its first u.s. plant in south carolina. the ceo called for all countries to lower auto tariffs. >> we bel ve in freetrade. that's good for the consumer. i tnk the -- it could, of course, be at low level. i don't understand why we need it at all. >> the increased trade tensions are not stopping automakers like general motors from continuing other ease production in countries. in fact, the new chevy blazer will be built in mexico and imported to the u.s. gm's vehicle exports from mexico are up 39% this year with mmy of t winding up north of the border.ar a c indication automakers are not slowing down plans to build vehicles o iner countries despite threats from

president trump to increase tariffs on those imported models. phil labeauic chago. time to look at some of the today's upgrad and down grades in the market for a second day. nike was downgraded. this time at buckle ham research to neutral and brie buy. the analyst seesrganizational anges and inflation bringing in some risk, but overall remains positive on the company's long-term fujdss. as such, the price target was raised from $75 a share to 0. today nike shares closed at $73.43, and that was down a fraction. needham cut its rating on the chip makerkl 10 to hold from buy. the analyst there concerned some customers may spend less on equipment in the second half of the year. kla fell me than 3% on the day. >> molina health care was upgraded from hold touy wit a brokerage calling the company's turnaround efforts "value enhancing." the price target was up to $124

a share from $86. molina's shares closed at $101.48 up about 3%. united rentals was to buy from neutral at ubs. the analyst cited thes stoc valuation after pulling back 20% over the last three months. he also sees better margin performance for the equipment rental company. the firm has a price target of $196. today share csed at $154.95. that was up more than 1%. coming up, if you have asiig de to make about your portfolio, this week's market monitor says your best bet may be to think small.

>> the ruling said obtaining the data fromireless carriers without a warrant amounts to unreasonable search and seizure. the court did grant exceptions like pursuing a suspect or protecting someone who is in immediate danger. >> in that ruling the court said cell phones are a pervasive part of our daily life, so it's no rprise that a lot of advertising money has been moving away from traditional media and intol. digi that trend is also facing a number of challenges. it was one of theops of conversation among ad executivek this w at the l kaunsn festival in cannes, france. julia borestein was there. >> to twitter and pinterest, and

snapchat's museum eibit composed of snaps. all the digital adla ptforms are here in cignes spending to draw the attention and ad dollars of chief marketi officers. this gathering of industry heavy hitters comes amid massive consolidation. with at&t just last week completing its o acquisiti time warper, which ad industry veteran immediate media link ceo mielk says will drive innovation. >> the idea of the advanced advertising tlatforms in investments that at&t in that case will make i think will long way to driving bter contextual and targeted advertise, which i think is a ll positive for af us. >> this year as kauns lion coming on the heels of the data the cy scandal, hears social media giant is owning up to its mistakes and talking to marketers aboutt'he changes i making to insure brand safety and encouraging ad executives to do a privacy checkup on their facebook account. the chief marketing oicer of unilever, explains why he is

sticking with the platform. >> i satisfied with the progress they're making. we're not approximate where we need to be yet. they know that. i know that. youat know it's a big company, and it's making some big changes. >> ad executives saying there's an industry-wide focus on imprheing platforms and the content on them. with facebooknvesting a professionally created shows for its new launch platform, which is a boston for the media brand such as discovery backed group nine that distributed through them. >> facebook is moving towards more premium. i think they're valuing brand. i think they're valuing content more than they have f before people like us. it's a great thing. it means that the cream itses. strengthens our relationship with them. >> and traditional media companies are using theas upheal an opportunity to highlight their premium content combined with new digital tools. take cargo, which sells mobile ads for 70 media properties. from the "new york times" to nbc universal, to advertise looking f alternatives. >> what they're looking for is ways to spend their money, both

on facebookndnd google find alternatives where they can find brand safety, quality places, and they can reach consumers where they have diversification. >> withpto manyns showcased here at cannes and the digital giant's focus on safety and quality, analysts just now boosting their estimates saying the global ad industry wil by over 6% this year. i'mulia borestein in cannes, france. ups avoids ankemployee st for now with a new labor contract, and that is where we begin tonight's marketfocus. the delivery giant reached a tentative agreement with the teamster union on a five-year labor deal that includes improved benefits and higher wages for existing employees. the deal sti needs to be approved by the union, but it covers about 0260, workers. shares of ups up a quarter of a percent to 113.70. blackb blackberryti expecs were topped. the company said that strength is expected to peter out as blackberry moves to a

subscription-based model. that disappointing growth oudook see to catch investors off guard. shares were off 8% on the t sessio $10.68. the medical dough vice maker medtronic will hike its dividend 9% to 60 cents a share. separately the fda expanned its approval for one of medtronic diabetes devic to a younger age group. shares are up a fraction to $86.81.

. >> thoef won a contract to produce f-16 fighter jets from bahrain. the contract is worth $1.1 billion. shares of lockhd were unchanged following the news, but closed down a fraction today at $299.38 wr. mall caps are on a bit of a tear. last time he was on last pvember heked spider dow jones industrial aj f, the i share's edge momentum etf. say that ten times fast, folks. and that is higher by 12%, and van guard europe etf lower by 1 %. jason brown is chief investment strategist at fun dex. jason, you are picking a couple of areas here, small caps an ch, that have momentum behind them. sometimes that's something to worry about. his is awhy you think

smart play now. >> sure. at fun dex what we've observed over time is that most trends when it comes to large cap versus small, value veorus growth,gn versus domestic, they actually last years. at least several months.ll the s cap trend in particular is relatively new. you mentioned thegy techno that's had some momentum behind it for some time now. the other thing that we've served is that because these trends last some time, have you some time to adjust as things change as long as you stay alert to those changes, and that's really what our strategy is all about. >> your first pick as ante et index fund is up 30% just this year alone. >> amazing, right? although it's up 50% or so forn the . you might have had a similar argument or concern, you know, at the beginning of the year. sure enough, it's up another 30% sinc it's an aggressive play for a small part of the -- >> you've got a lot of tech in it. 30% in fang stocks? >> it's about 30% in specifically the fang stocks. facebook, amazon. it's really entirely

internet-based. even though it's not all technology e-trade and others, the whole reason why they invest in anythinghe is because are companies that are basically tech-foeked. >> second pick is i-shares russell 2,000 growth etf. i believe the tickers iwo. >> that is correct. this is areat low cost way to add small caps to your portfolio. again, still focusedn growth because in the current market environment growth a isolutely what's leading. >> what's different about i-shares edge, msci musaentum factory. mtum. what makes it different from the other two picks? >> other than the fact that this is the one that sort of survive, to and we continue to own. >> this a repeat. etfthis is a factor-based that's actually somewhat more active. it actually adjusts its port foal yes over time. a couple ofgo years when high dividend paying stocks were in favor, this is what this f d actualowned.

if you only can invest in u.s. stocks and only large and mid cap companies, it's done a really good job over the last few years actually migrating between, you know, sort of different things like what's working and it's still at a vg y low operatpense ratio. 15 basis it's a nice way to have something in the portfolio that's doing well today and you leadership pt as changes. we know it will. >> i'll come back to the idea that i sort of began with. t one of the funds is the first one you mentioned, fdn, internet index fund. up 50%. don't you worry a little bit that you're coming late to the >> well, again, i'm not going to put everything i have here. you know, imagine if yougre go out and trying -- you are seeing everybody making money in this area, and that's whatpe ha been hng for some time, whether it's amazon or facebook or so forth. if you want to add tse stocks to your portfolio, at least there's a relatively diversified way to get exposurethere. these stocks were down today, for example. they've gone -- this thing happened through fits starts. it's something we feel like we can add to, t but until trend

changes, we feel like -- d long ill last a g time. >> they can last a good long time, and i think you can continue to make good arguments where this one could last longer. >>. thank you very mu continued good fortune to you. >> thank you very much. >> to read more about his -- nbr.com. dhaings, jason. up next,, companies are always looking to improve the bottom line. one move some are looking at could save ten of millions of dollars. you might call it the last strass can you guehat i'm talking about? we'll explain. more and more companies are nerking t do the same with an eye on the bottom

the latest issue to take center stage? drinking. stra as adid roy tells us, it gives a new meaning to the question paper or pltic? >> at th slanted door restaurant i san francisco servers onl hand out paper strauz. company officials say they wanted to give customers an option that's better for the environment. >> one use plastic is not a good plan for us. >> and sarah likes the compostable plastic straw that comes wit. her iced coff >> i think banning plastic straws is a tiny thing in stopping the wav of plastic garbage that might hit us. >> reporter: they're not alone. consumers, cities, and companies across the nation and the world are yielding to calls to replace plastic strawsith more eco-friendly options. bans on plastic straws are either already in place or being debated in states like california and cities from n sel take effect july 1st.

>> hopefully many of theas companies here in seattle, like starbucks and costco, will follow the xacity'sle and start rapidly reducing their plastic footprint. activists across the country and city will continue to demand it. earlier t this year nearly one-third of shareholders from starbucks which uses an estimated 2 billion plastic straws a year, voted to replace plastic straws. >> in the u.s. food service company bon appetit has banned plastic s aws at more th 1,000 locations. as plastic straws fall out of favor, the top contenders to replace plaic are compostable plastic, paper, and even metal and glass straws. the three biggest producers of l composta plastic straws are pt strawland and eco straws and eco products which sells to restaurants chains, stadiums, and companies.

paper straws are another top hntender. salee gone up 5,000% in the last two years. wsgrass st which are sold by companies like strawsom, humming bird simply straw and glass darma. simply straws says it has qu quadrupled its business since january. these cost more to make. one plastic straw costs more than a penny. compare that to 4 cents, 6 pents per paper straw, and 50 cents to 60 centsla per straw making the switch from plastic could cost big restaurant chains an extra tens of millions of dolls each year. some companies and consumers say they'll e swallow thera costs because it's the right thing to do. >> we're more than happy to pay the costs just for the good. >> for now it appears that compostable plastic straws and paper straws are the most commonalitytive to plastic. the paper straw company aardvark says they are so busy, they can't keep up with demand. b for nightiness report, i'm

adidi roy,an francisco. we were told today by our producer heather that there are even people who are using pasta straws. >> i have stainless steel ones. remember when we just drank out of the cup? >> yeah very interesting story there. paper straws. making a big comebae. before go, let's take a look at the numbers on wall street today. the dow rose 119 to 24,580. the nasdaq fell 20. the s&p 500 tacked on five. for the week, though, all three indexes were lower. the dow was the big loser. down 2%. the other is wn less than one. that's nightly business report for tonight. >> have a great night, everybody. be back here next week.

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