this is "nightusiness report." with sue herera and bill griffith. >> stocks slip, investors across the globe run from r akyets on concerns of financial instability in turkey could spread to other markets. >> retailrevival, major stores report their earnings this week, and the results could prove that the death of that sector has been greatly exaggerated. >> cashing out. is your 401(k) leaking? it may sound odd, but it's a serious problemt could put your retirement at risk. >> those stories and much more tonight on nightly business report for monday august 13th. >> good evening, everyone, and welcome. stocks start the new week where

they left the last one, with declines. investors are concerned about the financial crisis in turkey, that its currency tumbling on friday about that worry spread to markets around the world. and dampened enthusiasm for stocks worldwide. cks marked e, s four-day losing streak. turkey is trying t toe action to stem the financial fallout, and reassure investors about the country's fiscal conditions. willa mar reports for us tonight from istanbul. >> reporter: president erdoganh spent weekend railing against foreign powers in the economic war they've launched against turkey. this morning, the country said the bank ppomised to s local banks with as much liquidity as they needed.

the country's interior minister about toe investigate m than 300 social media accounts were responthble for talking dow lira. erdogan accused economic terrorists of plotting to hy m turkeyreading false reports. those were just rumors he insisted. the new finance minister promised to roll out a new plan this morning. the dispute with washington, d.c., or the continuednt atn of american pastor andrew brunson has also exacerbated the situation here. that's prompted president trump to announce higher tariffs onnd

aluminumsteel. >> the fear is that turkey's economic turil will spread. and that fear has been sneding into safer assets like u.s. treasuries. how concerned should investors be? steve liesman takes a look. >> like the spread of the common cold financial con takening can jump from country to country. the question of contagion is now top of the mind of markets with the decline of the turkish lira, almost 40% against the collar in e last several days. the turkish crisis has a double-digit inflation and a president who doesn't believe in an independentba central . ederal reserve rate hikes have weakened currencies in a host oo untries.

they've raised tar questions about the economic growth outlooks. >> you have a whole array of emerging market countries. you can point to south africa, brazil, mexico. there's a -- whole bunch of them out luthere, ing russia as well 37 and i think that's the underlying problem, is the massive amount of debt, the u.s. is feeling the effects already, with stocks down modestly, and interest rates lower as investors.s clamor for safe assets. the efcts have been moderate. one big difference is a different u.s. president now. >> one of the strategies of this adminiration in some regard is to create enough stress abroad that they have to ce and negotiate a settlement on the trade negotiations. and i think -- i got to believe

that's part of their strategy, put enoug pain on china, put enough pain on other parts of the world that they bring them to t negotiation table in a favorable way for the united states.. >> strong u growth gives them latitude to pressure other countries for concessions. that assumes the u.s. doesn't catch cold from the rest of the world. >> opec's oil production rose slightly in july in its monthly repo, the cartel says the increase was driven by kuwait, nigeria and iraq. opec sent the price of domestic crude lower to settle at $67 a barrel. the r wail sectorl be in focus this week, home depot, macys and walmart will be reporting their latest earnings. along with coach, j.c. penny and nordstrom. charlie'shea joins us now to

talk about the outlook for the results at moodies. >> good to see you again. welcome back. >> this has been a very strong ngearnings repor season. do you expect the retailers to continue that tnd? >> yeah, i think so. i think when you're looking at walmar for instance, and that's one of the highlight names i think this week, and as it is every quarter, i think walmart provides a window to tht soul for u.s. consumer. and i think in that vain walmart's been investing heavily trying to get the food busines on all cylinders. that will give us an idea of how the consumer is feeling, and give us a backdrop going into the second half of the season, back to school and holiday this year. >> what about some of the department stores, macys and jcpenney? >> i think they're all going down the same path, all trying to lean up anywhere inventories so margins will be better.

they're trying to get their online business humming along. throughouthat segment, we're seeing varying degrees of success. i think this quarter will give us a litmus test as to how these guys are doing. >> home depot is the first to report tomorrow morng. will the housing department be reflected in their repor zm. i think so. they're online business is really good. it's pro business is running on all cylinders, i thinkhey'll be one of the real highlights this quarter. >> what about the issue of tariffs? nome of them have been imposed, some of them are the works, will we see any of that reflected in any of these reports? who are the most likely to be affected by those? >> i think i cs too early. er the auto retailers, for instance, and i don't want to tget too offic here, with the sell, y of brands they

they should weather this pretty well. the retail side, i think in yore a savvy retailer, you've been around for a ile, you saw the handgen bankruptcy. you've seen all sorts of things happen over the last several years. you've beefed u your supply chain. however, if you are 100% sourcing i china, you'reoing to have some problems. >> charles, always good to see you, thanks for joining us tonight. >> a little bit later in the program, we'll be taking a look at the health of the con assumer, what we' spending on our money -- with our money and how that could impact the economy coming up. sue? >> shares of bayer, the owner ol roundup fharply today. the widely used product presented a substantial danger toconsumers. aditi roy has the details of the california court ace desion.

>> was the roundup pro or ranger pro design a substantial factor in causing harm to mr. johnson? answer, yes. >> it was a landmark rulingn a san francisco courtroom friday. a j oyered monsanto to pay $289 million ines damago dwayne lee johnson. a northern california man who says his terminal cancer was caused by spraying roundup while working as a school grounds i keepers the first of thousands of cases across the monsanto volving the weed killer to go to trial. making some wonder ifse it will a precedent? >> it's global. it's way bigger than me. i hope that lig will be shined. >> shares of bayer which acquired me than santo in june lower. the case is the late

developmen in an ongoing c controversy in the active ingredient in roundup. the cheecal first c under fire in 2015, when annc age under the w.h.o. sai the chemical was probably carson genic. a company spokesman spoke to reporters after the verdict. >> the verdict today does not change the science. >> the company says more than 800 scientific studies and reviews and conclusions by the u.s. ep u th. institutes of health and regulatory authoritiesor around the support the fact that glhasate does n cause cancer. >> if you know you're going to u die, may as well not die in vein. >> monsanto says it will appeal.

the next case against roundus scheduled to go to trial this fall in st. louis. noathas been scheduled for that case at this time. for nightly business report, adedy roy, san francis.im >> to take a look at some of today'sup grades and downgrades. >> we begin tonight with papa john's. the analyst says it can only get better from here, following the recent controveral departure of the founder. price target now $52, the stock rose more than 3% ditoday. was downgraded to sell from neral. the analysts cites the uncertainty due to the company's spectrum holdings which he says has gotten worse. the stock was down half a percent. >> acami was downgraded to

neutral. increased competition will make revenue growth more difficult next year. the price target is $84. the stock is trading below that level at 72 even. doar tree was upgraded to overweight from neutral at atlantic equities. the analyst there cites an inflexion in sentiment. the stock rose fractionally to 92.97. still ahead, how will harley-davidson handle being a target of the presi fnt? we'll sod out. the natnal retail

federation expects retail sales to be even stronger than first thought. spending is expected to climb at least 4 1/2% this year. the trade organization cites tax reform a other upbeat economic indicators for that new forecast. >> younger generations seem to have no problem spending these days. thso-called generation z those are the ones aged 16 to 20, they've rked up an average of more than $4,000 in debt. thels survey shows young millennials have an average of more than $11,000 in debt but thnt includes stu loans as well as credit card debt. these two groups are optimistic about their futures. >> what does that tell us about the consumer spending?

>> you seem to think the consumer is pretty healthy right now? >> i think so. we've had nine-year recovery now. wages are starting to grow. and one of the really important things is that after the financialcrisis, we had a collapse in people's wealth that is completelyrecovered. householdacrs are in good health right now. >> savings going up, but debt levels also. as we cited here. is that a generational thin i >> wheook at that, i look at it more as, it shows how tough it is for that generation. educatio costs have skyrocketed. so a lot of that student loan debt is not irresponsib spending, people need to take out the loans to cover their bills. >> those are young folks who

grew up during the financial crisis. how does that affect them, do you think? >> this in some ways is -- the generation is like the great depression generation, these are people who know what it's like to be in a really bad economy. and come out of college and have jl your opportunities disappear. we have a regular survey of consumers we do. we find millennials have a much stronger thought to save the tax debt. longer term that could be healthier? >> it is healthier. onef the things that's good in the revisions they've done to the da, saving rates much higher than we previously thought. that's a sign tha people have moved into a stronger position, they've recovered their wealth, y can spend going-forward. >> ethan, always great to see you. thanks for joining us.

ethan harris, bank of america, merrill lynch. >> the cfo of one of this year's best performing stocks is stepping down. david wells haseen with them a total of 14 years, he will stay on until a replacement is found. elliotten manag has taken a big stake in neilsen. according to the wall street journal. they plan to push neilsen to sell itself. the stock popped by 12%oday on that news to 24.62. dicom has slashed its second quarter profit in sales outlook. the contractingervices company cited slower than expected large

scale deployments thi is the second zboingting outlook which already cut its first full year guidance back in may. the stockown 24% today to 68.9. t maker of atm machines is looking to sell itself, according to cnbc, they've hired credit suisse and evercorp. to help find buyers. no deal is assured. none the less, shares sored 16%. regeneron's approval of its eye drug was delayed by the fda. they will continue discussions with the regulator and will wait two months for a final decision. that delay could put them at a disadvantage versus its competitors, the stock fell a fraction to 366.45. tesla's ceo says his claim

last week was based on repeated conversations wit the saudis. in a blog post today elon musk said the saudi arabian sovereign wealth fund approached him many times. musk said he thought a deal could b closed. in a volatile session, the stock closed higher. >> from electric cars to an iconic motorcycle company. harley-davidsons being targeted by president trump again. he said over the weekend in a tweet that he supported a boycott of the bike maker. that sent shares ofow harley today, extending its recent slide. morgan brennen has more on this escalating feud. >> reporter: what happens when the president of the united statess support the boycott of an american brand? hainey-davidson may soon f out. after hosting a bikers for trump event over the weekend, president trump tookero twi to slam the company saying, many harley-davidson owners plan to

boycott the company as manufacturing moves overseas.th most companies are coming in this direction, including harl competitors. really bad move. the u.s. will have a level playing field or beer. it's the latest salvo in a war of words that has found harley at the center of a much bigger debate. >> i think as a business we just deal with what we have toeal with, and there -- we are not a political organization. we work very hard to be apolitical in how we approach a our businessnd our consumers everywhere in theworld, we do what we have to t do maintain that integrity as a company and as a brand facing difficult decisions as we do, as we have in this case. and that was just an unfortunate attention that wro maded

an unfortunate set of circumstances. motorcycles sold in th u.s. will continue to be made in the u.s. as fornt weather presil comments and now prospective boycotts are affecting sales. a number of harley dealerships say so s far they havenn it, at least not yet, managers saye they educating customers on misinformation. trump's been there two years, we've been here 115. stillnvestors are worried, and that did drive harlere sha lower today. nor nightly business report, i'm morgan brennen, at the new york stock exchange. federal investigators are going over voice and data recorders from a stolen alaska airlines plane that crashed afr a wild and scary joyride friday night. incident raises toug questions about security.

>> it's the question everyone is asking. how did richard russell, a ramp service worker, who is not a licensed pilot, get into an alaskali airs turboprop, start it up and take offor a one hour joyride. >> i have a lot of people that care about me. andt's going to disappoint them to hear that i did this. >> we're just sitting watching the sunset, and there was apl ane that was about to hit the water, my cousins and i were like, that's crazy. >> the crash kilusdll but it left a trail of questions. the biggest, how secure are planes parked on the tarmac, and ow can airlines make sure only pilots are able to get into the cockpit art up a plane? >> the biggest red flag is that

this is something that aviation security is notesned to prevent. >> that is likely to change. now that t fbi, ntsb and faa are all taking long hard look at airport and airplane security with airports busier than ever, adding more flights, federalgu tors want to make sure safety is not being erlooked. phil lebeau, nightly business report, chicago. >> by the way, seatac and the seattle port autho say they have added more security in cargo areas and terminals following that stolen plane incident still ahead, raiding your retirement, why more people are doing it, even though they shouldn't.

fax machines could be the next target of hackers, researchers warn that cyber criminals can exploit vulnerabilities in all in one printers. hackers are able to take over a device by farmingin of malicious code, millions of fax machines remain in usetoday. bill? >> millions of americans are saving for retirement thanks to automatic enrollment in their 401(k) many auto enrolled work irs are treating those accounts like an atm, withdrawing their long term savings prematurely. r senior personal correspondent has been sitting tre waiting patiently to tell us more about impact this could have on their financial future. let's start with this automatic enrollment program? >> about 70% of large employers

right now are automatically enrolling their employees in a 401(k), when you arehired, you become part of that 401(k) plan unless you opt out. the plan will specify a certain percentage of your pay that will be deducted every pay period, and y e canct if you chose to do so to contribute a different amount. a are they saving more as result of being automatically enrolled? >> they're saving more, but as much as they possibly could, a new study came out sotwing that a of workers are increasing their savings, but not by as much because they're doing something that is causing what they call 401(k) leakage. the potential retirement savings they could get is 7% of their starting pay after about 8 years, what also increases is the amount of outstanding loans and withdrawals they're taking from these 401(k)s. their increase in retirement savings is only about 4 to 5%.

>> it's soin tem to withdraw -- >> if you think you're getting that automatic deposit. it's a taxable event. >> you don't ever want to do that, that's how you can avoid the 401(k) leakage, don't take that withdraw and not put it in aualified account. >> there's nothing that can be done to try to keep them from doing th n? >> youd to look at that loan amount. sometimes there's aedical emergency, there's some type of high interest debt you want to pay off, and you really need that money. you shouldn't do it, by any stretch, if you request help it, but if you do, look at the plan requirements, make sure you understand how much you can borrownd what the payment terms are going to be, and don't stop saving. they take money out, they're not

putting anything back in, a quarter of people reduce their retirement savings when they take that lean out. that'sy the biggest problem. >>. >> before we go, here's a look at the final numbers from wall street. the dow dropped 120 points, the nasdaq fl 19, the s&p 500 was down 11. that will do it for a monday edition of nightly business regrrt. >> have t evening, we'll see you tomorrow.

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