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netflix and facebook both got whacked aft earnings. and demonstrated that growth was slowing somewhat. a lot of th traders were very long, these names. they were long because they seemed bulletproof and tariff proof. they don't seem so reliable anyo . facebook fell almost 20% last week, netflix about 2%. even morgan stanley put out a note this morning saying friday's moves were a sign o market exhaustion, that was their phrase and a shift toward

lue could be in the cards fairly soon. overall earnings is still going strong, the markets are merciless when they're not good or when g starts to slow down. look what happened to twitter, it's down 20% on its earnings miss. it's a bit too early t sayhat some kind of major trend reversal is in place. there's not any rea panic out there. but the trading activity indicates tradersre definitely more risk averse. for nightly business report, i'm bob hassani at the new york stock exchange. >> what could this potential ortfolio iffor your it continues. joining us tonight, jason wear. thanks for joining us tonight. >> good to be here. >> do you buyhe premise that maybe the fang trade for now is over in. >> i think we should start by stipulating that this construct of value versus growth, while a more o conversation, doesn't

have a lot of practical strategd attao it, one investment manager's growth stock is another's value stock. looking at microsoft, microsoft hasone an amazing pivot to a growth business in the cloud. an has been growing earnings north of 10% for the past five years per ye. there's trading at a 25, 26 pe. for most people, that's a growth stock. it's the top value holding. united health care is ather example. to be able to put labels on these stocks and think that we can develop and invest in ath strategy fro, is something we don't subscribe to. >> what does the individual investor do then. go look for fairly valued stocks withot goodm line? how do you determine what is going to grow your portfolio, regardless of whatever the definition is by the money managers? >> sure. question.eat and really how we counsel

clients is, a well diversified portfolio, that's going to be able to capture what growth has to offer over a long term you want to segment your portfolio among different capsizes. large cap, mid s cap,ll cap. all of those have different value components. large cap growth and large cap value. there's not muchum of a pre value there. oftenimes it will pay a premium over time, having your bets spreadosut a a number of different factors makes sense for the average in keeping your costs low, and being able to stay the cost through the ups and downs of the market. >> which brings me full circle back to my first question. would you include the facebooks and amazons and netflixs which have been lagging recent i. would yolude those right now in a portfolio stock you think are gng to grorom here? >> fair enough. and i will address that di bctly. they'vn lagging as of late. extrapolate ves to

short term moves into longer term trends. look at amazon, it's up 50 something percent year to date. apple is doing fi. alphabet is doing fine. we have a couple day decline here, let's keep that in context. google is trading at a asonable price. apple is trading at a reasonable price. amazon by our measures i trading at a reasonable price despite the fact that most say it's overvalued. we continue to hold those for our clients. >> when you say long rm, it differs for everybody certainly, what your time frame is, as you'reanaging your client's for , what is long term you? >> once again, just like everything it depends on a client's horizon. if you have a long time horizon, we're comfortable holding these growth stocks at a reasonable price, so much as the business fundamentals don't change.

that could be one year, three years, just like warren buffett says the ideal holding period is forever. although we know that's not realistic. more of a buy in monitor type of thing. we have stocks that we've held for years. and we htoes that something complainings in the underlying business, we end up selling that stock as well. no clean answer, but it differs. ideally the meerd is at least longer than one year. >> jason wear. thanks for joining us tonight 37. > it is another big week for earnings, another major focus will be on trade. caterpillar recorded a record quarter. the dow easily topped analyst estimates and raised its outlooks for a yearng stachinery sales allowed that company to recover any increase in costs. the stock was volatile early in the session, to close lower by

2%. dominick chu has more on caterpillar's quarter. >> the company benefited worlf ide. it's onee reasons why they made extra revenues than. expect >> they had the highest revenue growth. it looks like it's going to continue this quarter. >> caterpillar is seen as an indicator forhe global company. the company says it sees big strength in the u.s. construction marketse the u.s. and china. ich of the story has focused on theact of trade and tariffs, it estimates that materials costs were increase by around 100 to $200illion in the second half of the year, dueo recently imposed tariffs. >> w on the issue of trade urge government leaders to take actions to remove uncertainty about as a globa manufacturer,

caterpillar has long advocated for free trade, because it enhances global competitiveness and helps u.s. manufacturer's grow u.s. jobs and exports. >> the truly global nature of caterpillas business mak it much more sensitive to trade related issues. it's a big reason why investors will be paying a lot of attention to any new rhetoric or policy on that front in the coming weeks. for nightly business report, i'm minick chu. tyson has been given a headache. the company cut its profit forecast. the ceo blamed uncertainty for lower chicken and pork prices. demand from mexico and china has fallen in part because of retaliator tariffs. all of this comes at a bad time for tyson, which is dealing with a glut of meat on the market, which has pushed prices as a result. shares tumbled in today's session. harley-davidson another american icon that has dealt

with its share of trade related issues. today the company says it plans line l out an expanded of -- lineup of smaller bikes in an international push for growth. in an interview with cnbc, the ceo defended the company's decision. a decision that drew criticism from president trump. >> certain commodities like grain and soybeans are traded off against otherhings like motorcycles in the basket of nations.ween and so picking on one specific thing like motorcles and assuming it's going to be easy ff change, that's where it gets complicated and ult. the administration is working hard on this issue. we have endured tremendousnd economic noneconomic trade barriers in our international growth. we have competed on our merits, 've done very well, we're in over 100 countries now around the world, and we're doing well, despite some of these things, we

would like a little bit more of a playing field, because we think we can do even better. do you think we'll ultimately get that. all of this is to get to that place. >> i -- they are absolutely in line with what we all want, free andair trade both. we've been consistent on that point. they've been t consistent t point. it's a little hard to tell now, with the direction things are going, where it will all end. >> shares of harley-davidson are down about 13% so far this year. from harley to bmw, the automaker is increasing priceso american made suvs that are sold in china. responding to the tariffs that china put on american made imports. prices of the x 5 and x 6 models which are made in south carolina will be increased by 4 and 7%. bmw is the second automaker to rise pricess in the worl largest auto market folk tesla. the chamber of commerce

today said that bailing out all of the industries because of the administration's tariffs could cost $39 billion. the chamber has been a vocal opponent of tariffs that have been placed on a host of goods, including those from china as ell as steel and aluminum imports. >> the ceo of jpmorgan chase saidhat trades a big risk to the u.s. economy. during an interview, jimie said he hopes the president's strategy works, but he's concerned the approach cld derail some of the economic growth we've been seeing. i think there's been reta wation, i think if do it, there will be another predictable round of retaliation. it wl eventually slow down the gdp. we want him to deal with the

important subjects. >> he mentioned the yun winding of the fed's stimulus as another potential risk to economic growth. it's time to take a look at some oftoday's upgrades and downgrades. at&t was upgraded to buy from neutral. the analyst cites the acquisitiorn of time as well as better than expected wireless business trends. thesrice target 37, the stock rose nearly2%. the bryce target was raised by cowan from $ a share to 21. the an lift is expecting better than expected profit in 2019, and amd's server chips will gain market share from intel. the firm maintains it's outperformed rating. the r stocke to 1942. colgatealmolive was downgraded in neutral. the analyst does not expect growth toat accel over the next several tequ. price target, $65.

the stock closed just above that level in today's trade. synchrony fincial, w down graded. price now $32. it fell more than 1% today to 29.51. government shutdown may be right around the corner. shares of american express came under criticism today. the dow component reportedly increased currency conversion rate in an attempt to raise revenue and employee

ecommissions. ractice reportedly occurred until early this year and dates back until 2004. american express said today it is conducting aheview w an outside party. that report sent the stock lower by nearly 3% today. >> cbs's board of directors met today to discu the fate of les moonves. following allegations of sual misconduct the stock extended its slide following trading today. >> les moonves is staying in the corner office at cbs. despite allegations in a new yorker a sicle ofual misconduct between the 1980s an. 2000 the board of directors issuing a statement saying, they are in the proce ofelecting outside council to conduct an independent investigation. no other action was taken on this matter at today's board meeting. there was plenty of speculation

about whether the board would ask moonves to step aside during th probe. whether he would resign. the board also deciding to postpone the annual meeting of stockholders. a date and time yet to be determined. the meeting was expected to focus on cbs court battle with sherry nereds moonves's attempt to dilute her controlling vote. as the board hires a firm and start the investn. the next event for cbs is its earnings report. moonves typically leads the earnings call discussing its trajectory and future. for nightly business report, i'm julia borstyn. the president renewed his threat today to shut down the government over funding for his border wall. >> reporter: the stakes for aea septemberine to fund the government are beingra ed.

>> if we don't get border securi after many, many years of talkd ithin the uni states, i would have no problem doing a shutdown. it's time we had proper border security. h >> with these on recess for august, that gives lawmakers 11 days toork out a deal before expires on midnight september 30th. it's just about a month away from midterm congressional elections. theresident monday signaled he could be won over. >> i have no rid line. i'll always leave room for negotiation. >> doug says the president uses shutdowns as tools to advance his agenda. >> i think one of the lessons i learne earlier this ar, you can shut the government, it doesn't hurt the economy.

you don't want to do that, you don't want to disrupt the economy. he did it, what's the harm. >> last week, senate majority leader mitch mcconnell and paul ryan met with president trump at the white house. according to sources, they agreed to shelf the debate onbo er security funding until later in the year. one reason why mcconnell said multiple times today, a shutdown won't happen. for nightly business repo. u.s. foods goes shopping, that's where we begin tonight's market focus. they're buying a number of food businesses from services group of america for just under $2 llion in an effort to grow its footprint in the u.s. separaly, u.s. foods reported flat sales growth for its latest quarter and issued a soft outlook, that overshadowed those acquisitions, shares were lower by 17% to 33.51 many the restaurant operator bloomin'

brands said overalledarnings to expectations. the owner of outback steak house saw a larger revenue. they c their full year earnings for outlook. the shares were fractio d to 19.51. texas road house missed estimates even a customer visits remained strong. aftert, the bell tonihe restaurant klain said it expects same store sales to be positive for 2018. shares wer initially lower in extended hours. they ended thesi regular s down to 2%. general elengric is see a buyer for its digital business and it has hired an investment bank to begin the auction process. the wall street journal said this afternoon that potential sale comes at a time that the multibillion dollar business has been facing declining sales. ge shares rose in an otherwise down day.

this is a safe bet, you don't think about tin cans very of they're used in a lot of every day products. now they're getting moreex nsive because of the trade fight. aditior roy rep tonight from woodland, california. >> reportema the canning ines are buzzing at full speed. the former run co-op produces 600 million cans of fruits and vegetables every year. and sells them to companies from kroger to whole foods. >> it's hot right now, butn general, i think the season's coming along pretty well. ceo dan visin says the weather isn't the only hurdle they face this season. the trump administration's 25% tariff on imported steel and aluminum have also been a blow. >> pacific coast producers doesn't make its own cans which

areal parly made with importedee stl. he says his can supplier has passed on the tariff costs, meaningy're paying 2.5 cents more per can. >> we do believe gey have a loe, which we fully support. our concern is, we're being caht up in the short game. >> he remains optimistic, back in memarch, ce secretary wilbur ross held up a can of campbell's soup a said the impact of the tariffs would be marginal. >> well, i just bought this can today at a 7-eleven down here, and the pce was $1.99.o in the world is going to be too bothered about 6/10 of a cent. >> campbells acknowledged the impact of the u.s. steel tariffs saying tin plate is campbells

sing largest procurement expense. the can manufacturer's institute says the tariffs will add an extra penny per can or a total of 1$1.1 billion in extra costs for the u.s. can industry. that includes major food and beanrage comps. just last week the ceo of coca-cola said the price of the company's sodas will go up as a sult of the tariffs. and anheuser-busch says in a statement, a tariff on aluminum is a fax that thrtens jobs in the beer industry. and has the potential to raise the cost of brewing in the u.s. if the tariffs stick around long enough. they'll have to pass them along to their clients which could ultimately hit consumers. >> ultimately it will increase our costs to goods. we will need to go to ourom cus and talk to them about these increases. responsibility as always to do

what we can do to mitigate increases. >> there may be some good news.l s are performing well, which could lead to some cost savings down the road. he's also hopeful the administration will provide relief or grant exceptions. for night businessreport, i'm adedy roy, woodlands, california. coming up, so is this view worth a cl billion dollars? we'll take y to the most expensive real estate listing ever. here's a look at what to watch for tomorrow. apple, pfizer and proctor & gamble are due out with their financial results.

policy makers begin their two-day meeting to begin the introduction of interest rates. and the latest report on home prices across the country. that's what to watch for tuesday. the number of contracts for previously owned homes has increased thanks to a slight increase of the supply of homes for sale. th increase was broad based, all four major regions of the country showed gains. speakingbout real estate. as you know, we've been talking about the housing market a lot lately. as prices rise and inventory remains near historic lows. there is one property le none we've seen before. especially the billion dollar tag. robert frank shows us around. >> reporter: up this drive is

the first ever $1 billion residential listing in america. the massive 157cre property is bigger than disneyland, there's no castle up here, there's not evenho e. this plot of land is being sold by secure capal partners and l it'sisted by super broker erin kerman for $1 billion. there's four reasons why the mountain is aecord breaker. the property sits on t hhest point of one of the most expensive zip codes in the world, 90210. the land is zoned for a $1.5 million square foot mega compound. >> the billionaire that buys this can build the biggest house of all on top of beverly hills. >> privacy, this long private road puts your closest neighbor a half mile away. bottom line location, pure size

and views like this are what billionaires lo. >> but the truth is, no matter how ch you are, the billion dollar asking price is a tough sell. and the property had been shopped around back i 2014 also for a billion dollars. for nightly businessreport, i'm robert frank. >> a friend of mine said he woul put $100 down and ask for a 13,000 year mortgage. >> excellent. hat does it for us tonight, i'm sue herera, thanks for joining us. >> have a great evening. we'll see you tomorrow.

>> this is "bbc world news america." >> funding of this presentation is made possible by the freeman foundation, kovler foundation, pursuing solutions for america'sne ected needs, and purepoint financial.ha >> how do we our tomorrow? it starts with a vision. gi see its ideal form in our mind, and then we to chisel. twe strip away everythingt stands in the way to reveal new possibilities.

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