♪ ♪ this is "nightly business report" with bill griffeth and sue herera. >> midnight deadline. the white house is set to levy tariffs on billions ofon dollar chinese goods, heightening tensions between the world's two largest economies. side effects. policymakers areas incgly concerned that the economy could hit a snag as governments fight over trade. >> gender divide, men dominate theryptocurrency world, but a new movement wants to change that. those stories and more tonight on "nightly business report" for thursday, july 5th. >> and weoo bid youevening, everybody. stocks rose sharply today in part onor hopes a trade deal with germany involving tariffs on cars. that helped lift the mood on

wall street today. th dow gained 181 points near the highs for the session at 24,356. the nasdaq added 83 and the s&p was up 23 points. however, in just a fewhours, the u.s. is still scheduled to slap billionslaf d worth of tariff osgoods s on goods im from china. that deadline is midnight tonightnd chinaas promised swift retaliation which only, of course, furthes escalates tensions between the world's two economic super powers. more on that right now from beijing. >> china is preparing for a fight even a public relations fight. they imposed tariffs at midnight in on friday to match the u.s.' 12:01 a.m. start time. however, because of the time difference july 6th in china comes before july 6th in the

u.s. the chinese said they would delay their tariff it is until after immediately the americans imposed theirs. china's cabinet issued a statement saying china absolutely won't fire the first thns china will impose its shot. riffs at around noon local time which is unusual for the country and it also shows how ansitive beijing is as if appearing though it's an aggressor and it's seen as the innocent party as the one who is the good guy in the fight against president trump. oth countries will initiate tariffs up to 34% of $28 billion worth ofoods. china will strike back at farm goods targeting president trump's political bid. what are the chinese doing during this fight? china is purposely devalling its currency by making them cheaper. there are many who say that's not the case. nevertheless, the yuan hit its weakest level in almost a year

this week and there's talk that the chinese could loosen policy further and its already done that as of today. as for american compa ces,hina warned that u.s. firms could suffer because the tariffs wouk wr havoc on global supply chains. the commerce ministry pointed out today that it would account for $20 billion, about two-thirds of thrt exfrom china subject to the tariffs with many of themri an. the ministry said that the u.s. is, quote, firing shots at the entire world including itself. for "nightly business report" i'm eunice yeun in beijing. policymakers are watching the trade fight very closely. the potential for tariffs to ripple through the economy dominated the central bank's last meeting. as more.ick >> there was a lot of trade talk among members of the fomc in the nutes. they expressed concern over possible adverse effects over tariros and othersed trade restrictions in the u.s. and abroad and how they could affect investment activity and that

uncertainty and sk, they said, were both intensifying and they noticed a pullback in spending because of that uncertainty. specifically, steel and aluminum industries werereeing hig prices without expansion. they also noted supply constraints in the construction sector. otherwis a memberseed the labor market in the u.s. continues to strengthen with economic activity rising at a solid rate. they pointed to favorable economic factors being supportive of above-trend gdp growth and abo strong market, federal tax stimulus and financial conditions as well as high consumer confidence and a pickup in household spending and some members raised concern that a prolonged period of the economy cranking above its potential could increase t risk of inflation, eventually leading to a significant economic downturn. there was discussion of the labor shortage which we saw in the adp jobs report showing more job openings than eligible workers to fill them. finally, members revisited the

inea of cha the language in these statements on policy from accommodative to neral, though that one is likely coming. for "nightly business report," i'm diana olick in >>washington as we mentioned earlier, stocks rose today led by techhelogy and's one group within tech that's getting a lot of attention and that would be the semiconductors and bob pisani explains why the sector along with two others are in focus on wall right now. the stocks staged an impressive comack today though on very light trading volume which is what you might expect on a holiday-shortened week, but looking back over the last couple of week, thelarkets overake on a notably defensive tone amid the rising trade tensions and the s&p has been rangebound stuck i a range of 2700 to 2750. it's not showing signs o breaking out just yet though today it was encouraging and the strength stems from defensive groups such as utilities and telecom and real estate. that's generally not the kind of leadership investors want to see, but me crucial, cyclical

sectors like industrials, and banks and semiconductors are down 4% in the last few weeks and a lot of big chip stos which were the market leaders are down more. micron, nvidia, and they've fallen 10% in the last few weeks and they did g a modest bounce today. now what concerns traders is this notion that trade wars will translate into a slowdown in global growth and a reduction in earnings. many s the markets need to get away from the defensive leadership we've seen andote back into the more economically sensitive groups like industrials,anks and semiconductors. report, i'm business bob pisani at the new york stock exchange. >> bob just mentioned micron technology. that company' been caught inle legal ban china that has added to the china-u.s. trade tensions. a ban was put in place that prevents micron from selling chips tr that co but the company did say the decision will not have a big impact on its revenue and that sen shares

up more than 2% today. >> let's focus more on those three key sectors, the banks, the semis and the industrials with jack hadlan w crescent advisers. always good to see you, jack. >> nice to see you, sue. >> let's start with semiconductors and basically, they're taught ins trade issue and it doesn't look like that's going to go away any t soon. what's your attitude with what the ultimate impact might b on that particular sector? >> you're right, sue. the semiconductors right now are collateral damage in this tit for tat trade war with china. we have to keep in md that micron, in particular, was an object of a chinese takeoverse ral years ago that was. deni since that time, of course, micron has accused their chise competitors of stealing their technology and so now to have a chinese give way against micron s sort of a slap that goes against what we've done to china

the past. >> jack, many of these industrial multinationals were created as we saw the rise of globalization around the world, but now we're going the other direction and the pendulum is swinging the other way. what happens to these in muionals now, do you think? >> think two things. one is i think policy will ultimately adjust. i don't think we will see cessarily 180-degree reversal in policy. most economists, most policymakers realize we doob ne trade. in fact, in many respects president trump himself said we want free trade, we just don't want any impediments at all and if if we want any we'll impose those ourselves and we're more toward free trade and that said you're right, bill. thes companies have optimized their business processes on the reality that's beenre the for the last 30 years and that's

globalization and outsourcing and now to turn a battlehip ke that around over, you know, a two-quarter period is just very tdifficult. financials face other challenges, certainly and the nterest rate differential and the fed, youknow, and the ecb and its decision on interest rates. how do you feel about that particular sector and the headwind that they seem to be dealing with. temporarily perhaps or longer term? >> think it may be a little bit longer term, sue, and this is a puzzle because the financials are really the circulatory syst e of thenomy. what i have found is that the stock market does well when financials do well. the stock market doesn't do so well when financials underperform. so even if you'rer an invesn other sectors you do want to see financials outperform ifut they can, that said, interest rates in the intermediate part of the curve, in the ten-year

are low just as the short rates arerising, their net interest margins are really falling and so that's putting a lot of profit pressure on the large banks. >> lots to ponder. thania, jack. appr it. >> thank you, sue. >> jack adlan with cressent wealth advisers. they added jobs in june, but not as many as expected. adp reported a rise of 177,000 positions last month.er estimates for 185,000 and this marks the fourth straight month of monthlyob growth below 200,000 and it's one of the reasons that businesses are stil struggling to find enough new hires right now. same old story. by the way, in a separate report, new applications for unemploymentit ben last week increased by 3,000. many economists cited seasonal factors for that rise. and the government's big monthly jobs report will be released tomorrow morning, sue >> ll, the services sector

activity picked up in june thanks to an uptick in new orders while the supply management's index showed expansion in the services sector. trade, tariffs and a shortage of workers were starting to strain the supply chain and thatould slow momentum in the months ahead. the services sector accounts for two-thir of economic activity. time to take a look at today's upgrades and downgrades and we begin with facebook's price target which was raised to $275 at btig. the analyst tvere belthat consumers don't really care about the company's privacy scandal. firm is maintaining its buy rating on that stock and shares of cebook rose nearly 3% today to198.45. clean tech company advanced energy was upgraded to outperform from market performmo at r james. the analyst there cites the firm's free cash flow and its ability to make acquisitions while still maintaining steady buybacks. the price target now $72. that stock rose more than 4% to

$60.27. >> another under the radar name was upgraded. brookfield infrastructure's rating was raid to outperform from neutral and the unusual acquisition of enbridge >> the stock rose 5.5% to $40.87. >> cosmos energy is not a household name necessarily, but it did get an upgrade to outperform from secto perform from rbc capital markets and the analyst expects theompany to benefit from higher oil prices. the stock was up 2% to $8.20. >> still ahead, how one couple turns social media posts into a lucrative business.

president trump has accepted the resignation of epa administrator scott pruit. it comes amid ethics violations. pruitt rolled backir emental regulations and supported the fossil fuel indusewy. anheeler will become acting chief of the agency on monday. elsewhere, the president is expected to tell nato nations at next week's summit that the u.st cannot b world's piggy bank. president trump has pressured some nato allies already to their cantly increas military spending and according to the nato secretary-general, progress is being made. >> all nato allies an european allies and canada have to invest more in defense. they agree that we need that we bear the burden of sharing the good news is that we see

that european allies and canada are stepping up. all allies have started to increase more allies spend 2% of gdp on the defense. so we still have a long way to to movewe have start in the right direction. >> by the way, the brussels' nato summit takes place next week on july 11>>th and 12th. he president announces his supreme court nominee on monday at 9:00 p.m. eastern time. nbc news says his choice is likely one of these three. judge rick cavanaugh, a former law clerk to retiring justice kennedy. he was appointed to the u.s. court o appeals' d.c.ircuit by george w. bush. he was b a georgh nominee or appointee and amy coney barrett. sheas been a federal judge for about a year and once clerked for the late justice antonin scalia. michael jones talked about what each nominee might meanor business and federal regulation

riverchael is chairman of front regulations. >> good to see you again. welcde back. >> go be back. >> you think all three are pro-business and the business world should welcome them and let's start with miss barrett. you call her the biggest question mark. why? >> when you look at justice barrett? she is fairly newly arriv from e arena from academia. she hasn't had time to compile much of a track kind of cases and the areas that are of interest to financial markets and most of her am demmic career involves social issues that will be very much of interest in any confirmation hearing and aren't as central to what financial markets want to know. biggestould be the question mark in terms of her approach to taxation, regulation and so forth and therefore, markets don't like uncertainy and she would probably be the least favorite of the three nominees from aar financialt perspective. >> let's turn to brett cavanaugh. justiceavanaugh you say is a solid appointment, perhaps.

what is that based on and what isoe his track record tell us about how he might come down on issues important to business? >> so with respect to cavanaughi when you about what financial markets care about. there's a few areas. they want to know the philosophy towards taxation, towards regulation, towards lawsuits and towards labor market relations. ones se are kind of big and when you look at justice cavanaugh, he has a track record in the area of revelation a he's on record of being skeptical of the constitutionality, of the structure and of the consumer financialrotection bureau that the isolation of that bureau from congressional a presidential oversight, and the financial markets would really like that. also with respect to the epa, he is on record as upholding requements that the epa apply to allbenefit analysi of the regulations and all of

the heavily regulated and the traditional smokestack industries and they'll like his track record he doesn't have as much of a track record particularly compared to areas like labor market relations and lawsuits so i would call him the second best nominee from the financial markets perspective. ne youch leads us to the think will get the nod and that is raymond ketledge, right? >> the calculation is he wrote the social policy and the financial, and all i'm really interested in is th impact on markets. so my favorite would be ketledge, but that's because his -- he aligns so much with what financial markets will want see. he is on record as upholding restrictions on labor unions collectingues from anyone, but their membership. the oldmokestack in united industries, they will like that. he is equally good on deregulation as cavanaugh andha a strong track record on that score.

he has ruled against the irs and in favor of the tea party on areas of tax regulation. so again, that's very favorable for the financial markets, and then last, but n least, and this is a really important one. >> cla action lawsuits have a lot a real plague for of industries and pretty much ranging from technoly to ansportation and almost every industry has suffered from some degree of class action lawsus and tledge is on record of being skeptical of the kinds of settle onts that award tens millions to the lawyers and a $25 off cuapon to the a litigants in the lawsuit. so i think when you look at the broad track record of the three different nominees, i think ketledge, is the one that has th most track record in the widest series of areas that are of interest to financial markets. >> all right. >> and he'll be the one that markets will like best.

>> we will know monday night. >> michael jones of river front investments. thanks for joining us tonight. >> good to be here. >> boeing takes control of the commercial business and that's where we beginke tonight's m focus. the nearly $5 billion joint access toves greater the markets for passenger platis when compe is heating up with china russia and japan. shares of boeing are at 333.18 and shares of brayer fe to $23.50. praxair is one step closer to completing its $45 billion merger with lyn it plans to sell $6 billion worth of european assets in an effort te sec regulatory approval. shares of praxair rose 12% to fish the day at $161.88. >> barnes & noble has fired its ceo for violating company slicies. the company wouldncify

what the violation was, but did say it was not related to finances. barnes & noble shares climbed to $5.90. and after the bell tonight discount retailer price mart reported a rise in revenue that beta expons and profits did come in light. shares initially traded lowern the extended session erasing a 2% gain from earlier when shares closed at $93.40. when you think of socia media influencers you also think of cebrities with b followings, but that's not always the case. regular people can also become influencers and all it takes is a niche, lots of posts and aow gring audience and the ad dollars can soon follow. kate rogers has more in the small business mraerts segment. >> the 20 recession hit kelly and daniel hard. he lost his job in personal training and hers as a youth counselor within days of getting married and closing on a home. to make ends meet they turned to their experience in the fitness world. >> we both had time to pick up

extra job, but in the meantime i started writing online and i started to grahe concept of passive income. you work once and you createt content thas ideally evergreen and itpl brings peo and income to that content. >> they used youtube, uploading content directly to viewers from workouts to commentary on living a hea life with balance, joining the millions of content crear with their channel fitness blender. >> a beautiful thing about youtube and one of my favorite ohings is it costs nothing fail. so you can try over and over again until you find that audience a find something that works. >> while start-up f costsor would-be influencers, adndrtisers are speg big bucks to partner with socmel a stars in order to reach new audiences. $2 billion will be spent on instagram influencer marketing is year alone. obviously, ance influenr marketing company works with 150 br tds, connectinm to more than 450,000 influencers in the ork. >> great content. >> companies care about

influencer marketing because m's reall an evolution of celebrityarketing. we're seeing their budgets triple, quadruple and sometimest 10x jus from last year to this year. >> while many work with influencers on the side, it is possible to make it a full-time job with the dedication and the unique aeerhetic. >> ahree years and hundred of videos, they committed to fitness blender full time. they started with zero subscribers and today have more than 5 million withsihousands ing up each day. they make money on the advertisements that are shown on their youtube channel. >> if you're goingo make it on an online business y want to make sure you pick something that you're passionate about because you will spend time on it a you need t bexcited about it and you needo pick something that you're knowledgeable on and you have something to offer. >> kellys all it took was the first deposit in the couple's advertising account to mas them realize t might be a viable career. today the company isth worth mo

$10 million. >> for "nightly business po ," i'm kate rogers. >> coming up, a financial feminist movement in bitcoin. he are the new crypto force, women diving into the world of digitalre cy where men currently make up more than 90% of that industry. they're hopg to make a difference and inspire the next generation of women. andrea day has more. >> is crypto sexy? >> it's sexy to me. >> meet shana walton, aka, the bitcoin >> the profits can be very sexy. >> she's part of a growing group of women jumping head first into a world dominated by men like

meredith davis. >> 7 nths' pregnant. >> nilea rogers. >> we are moving into a new feminist movement and it is financial. >> and erica munoz.y >>ole point is to get more women interested. n> we were invited to join them at a meet up new york city, a monthly forum to share ideas and get advice on everythingrom trading to block chain. >> i'm doing my part, my small part to bring in as many women as i can, just to let them know, like, don't be intimidated. >> she says i mystea history of intimidatie kept women out of the game. >> a lot of the barriers i though existed were remembered from times that don't really apply anymore. >> no bearer whys for this group who come from all walks of life and for many, a first step into the financial arena. >> i'm in the hospitality industry and that's my he background for past 12 years. >> i was a u.s. marine and i worked in the government spacer long time. most people, i think, that i've interacted with aremeorking from r a coffee shop or

wherever is most expedient and for moms that's a huge opportunity. >> an opportunity marilyn saw four years ago when she started a website targeti stay-at-home moms. crypto moms.com. 90% to 95% of the people that were involved or have been involved in the cryptocurrency have been men and it's time women started showing up to the table. >> and showing up they are.e ays the site recently shot up 25%. >> it's the globa market a it's 24 hours. so after the kid goes to bed you can get on your d computer and anything that you can do between 9:00 to 5:00. >> do you think you have anything to proveo men? >> no. absolutely not. >> we are definitely at the beginnin of what's going to be like a major game changer. >> are you here to stay in the game? >> absolutely. >> why would i go? they all say the most important advice is to do tonses ofrch

before you jump in. that's one reason why they meet every month to share the very estest information. for "nightly busins report." i'm andrea day. >> before we go a look at the final numbers on wall street. the dow advanced by 181 points and the nasdaq added 83. the s&p was u 23. we have the big jobs report first thing tomorrow morning. >> we do. so you want to join us tomorrow night for some analysis. that will do it for "nightly business report. i'm sue herera. thanks forng joi us. >> i'm bill griffeth. have a wonderful evening. see you tomorrow. ♪

♪ >> this is "bbc world news erica." >> funding of this presentation is made possible by the frman 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.ur

atoint financial, we have