this is us"nightly biness report" with sue herera and bill griffith. record close, the s&p, the small cap and russell2000 hit new highs after the u.s. and mexico reach an aeement on trade. >> tesla's flirtatn wasoing private and questions sur rounding the company remain. >> studiostereing up their game and there's one inha particular tt's behind a o number of boxice blockbusters. ndose stories a more tonight on nightly business report for monday august 27th. i'mood evening everyone, tyler mathison in tonight for bill griffith. i'm sue herera,ev good ing, everybody. the last days of summer are anything but lazy on wall

street. the nasdaq powered past 8,000 for theirst time ever. the s&p 500 closed at an all time high. the dow blew past 26,000. a brethrough trade deal with mexico removed a source o uncertainty that's been hanging over the markets for months. the dow jones was 259 points, the nasdaq hit a record. and the s&p 500 added 22. more on today's market rally. >> it was aor r setting monday for the stock market. and the nasdaq, soaring to new highs. the nasdaq broke above 8,000 for the first time in history, facebook, apple, amazon, netflix and google parent. phabet. the trade talks were really the story of the day. president donald trump set the stage for stocks to riper hi and rip higher right across the

board. the ow broke back born 26,000 mark for the first time since february led by boeing, goldman sach and caterpillar. industrials and materials were among the sector winners day, that happens when trade talks get optimistic. it also happens with metals and mining stocks. dollars weaken too. when you get technology stocks, though,industrials, financials, the point is, you have a powerful rally on your hands. and the overall rally is broadening out, that's the key, it's not just tech names, not just bank nam that are moving. we hye a v potent stew of optimism, first on trade talk,t secondlyg earnings that are not dropping in the third and fourth quarter, and the strength of the u.s. economy. all three averages are set to po their best august gains in four years.

trading volume r like it is august after all. for nightly business report, from the new york stock exchange. >> getting to this point took a lot of work, andor the wk is far from finished. kayla ushi has all the details. >> reporter: president trump calling it a odeal, mex calling it an understanding, it's significant progress by the two countries to resolve some of the thornier issues that have been plaguing nafta ewtalks. like rules for wages for factory workers making those cars. then a 16-year time frame for the deal. u.s. backing down from a proposal to walk away after five. farmers waiting aid to help offset china woes are optimistic on the prospects. it doesn't undue steal and aluminum tariffs on mexico and

canada. canada will need to work out its issues with the u.s. talks will begin dus in washington. mexico said a three party agreement is ideal, but it's.s possible the. and mexico can go it alone. >> it's a comprehensive understanding, so we can move forward in that event. we -- that is not our desire. >> now they present a legal dilemma. authorities believe they have the authority to move forward with the deal. some of the most prominent republican lawmakers needed to move the trade deal forward called today's news preliminary. the trump administration's top trade official saying it was notified congress by the end f the dayfriday, on what deal had been reached. there are hopes of a vote ann executive signature on that deal by the end of november.

for nightly business report, kalan toushi in washington. the importance of these d tradls to the market. here's the chief market strategist. swelcome back, art, good you. >> basically one an lift i was talkinou to today said, have to look at it this way, one down, but two to go, meaning, mexico would probably have an agreement with, but we still have canada and china looming large over this market. e have threehink to go. i think that the first exit ramp off the trade war highway was going to be nafta, they were the first ones in and they're so important to us inerms of trade, logistics, supply chain. t's important to get that negotiation process, i've long held that renegotrkting 1/2 whatever you want to call it is going to be the first move by the t administration get some good news on trade out there. i think good news o tra is being choreographed around the

mid terms, i think the second leg will b with europe, we haven't gone after the autos yet, we haven't escalated with europe, not escalating with europe will be the other piece of good news. sounds much more complicated and they're the worst players in trade. in all of the trade tensions, china is the one that dumps steel and aluminum. that's going lo be theger 34r5i, i think any good news on frayed and trade policy right now, ibe going t mark et positive as we saw today. >> i think you'd have to say that today was a bit in the market of a relief rally, things were getting better, still a lot of ts was already telegraphed. if this was a reliefll is the market vulnerable. we've got good news on trade. since the beginning of the year, we've had twonificant selloffs, one was, in february, we're concerned about higher interest res. the second aas beenut trade.

there's a reason why it's been seven months from the last peek in the market to friday, where we made a high frohe s&p. the concerns over tariffs, the concer over what's bad economic offshoots would be with a neutrally destructive trade war with china. that would be the case. the market is going to react to good news. we've been telegraphing b thing han getting better with mexico for two weeks now. we hope t same process can move forward with canada at this juncture and get this behd us in the november time frame. not escalating any more with tho ne would be spectacular. and try to sit down and have a concrete discussion with china. >> on that note, art, thank you. >> as we reported last week, some of the country's leading changare concerned that to immigration policy will hurt not only their own companies, but the broader economy as well.

adedy roy rorts it could cost skilled workers to leave the u.s. >> this woman has worked in the u.s. since 2013, she left india toe with her husband, who's workin with microsoft under an h 1 visa. she was able to live in the u.s. unde an h visa. spouses of workers. despite having a college degree and several years of work experience in india, she wasn't allowed to work in the u.s. >> i spent a significant amount of time at home by myself, i wai appreh to go out and meet peop people. because i would constantly question, why wasn't i allowed to contribute to the american economy as well. >> in 2015, t obama administration approved a provision that allowed h4

workers to be employed in the s., and she started working. she's now a content manager for cloud computing firms. her husband is an engineering manager at facebo, they own a home in los gatos, ca fornia. >> fme, being able to work can be summed up in one word, it's independence. >> that could soon end. the trump ainistration has indicated in a recent court filing it will reverse the obama era decision as prohibits 1 h b visa holders. in a letter to the admistration, topceo's warned w changel likely cause high skilled immigrants to take their skills to competitorssi o the u.s. >> for us to have policies in place tha discourage forei talents from making the united states their home, obviously is going to have a trickle down effect on companies.

those whoppose h 1 b holders working in the u.s. point to cases like edison and disney which have been accused of dispcing american workers for lower paid foreign employees. >> they're replacing americans with cheap foreign workers. >> the hardest part for her is waiting. >> it's just a wai and watch game from here on out, and it's not fun. >> there's a good cnce if she's unable to work, both she and her husband would move abroad. for nightlyusiness report, aditi roy, san francisco. it's time to take a look at some of today's upgrades and downgrades. theanalyst's cite falling prices. the stocklosed right around 3066.

chipotle's level was cut. margins of same store sales growthas has inc. the target is 445. the stocks fell to 95.6. >> the analysts cite the stocks valuation. price target now $29 a share, shares nell 4 1/2% to 27.12. papa johns wasupgraded to buy from neutral. the analyst saysof the salhe company makes sense, and the odds of an acquisition may be increasing. price target now, 52.50. the stock rose a fraction. h teslas areot, but there that sector s in that may get even hotter.

toyota and uber will reportedly jointly develop driverless vehicles. according to the wall street journal, toyota will invest $500 million in the autonomous pact. uber had been looking for way to lower development costs involving one of its vehicles earlier this year. >> investo got their first chance today to react to news of sla, saying it plans to remain a publicly traded there is some concern, the shares fell more than 1%. the decision adds a briefh flirtation woing private. it does not mk an end to many legal and business questions. phil lebeau has more. >> the big corporate story that started w bh ag nearly three weeks ago, has ended with a whimper. elonmusk, who created a frenzy

by saying he might take his company private and aluation topping $70 billion, now says tesla will stay private. musk explained the decis saying, although the majority of shareholders i spokeo sai they would remain with tesla, if we went private, the sentiment in autshell was please don't do this. >> i think it's still true tpat the c should be a private company. that said, it's just simply not in the cards and sets up for what i think is going to be of the most dramatic stocks over the next few years. >>re tesla s have been on a wild ride since the story started on august 7th. thatit volatil could continue. as investors deal with fallout from musk's flirtation with privatizing the automaker. th biggest issue, an sec investigation, looking into whether or not musk misled the markethen he tweeted he had funding securedheo take

company private. it turns out, there was no deal locked in, and investigators are looking into the bases for tweets. >> i can't say with certainty because i haven't seen all of the evidee and i don know what the sec is going to uncover, maybe there is something out there w he had a reasonable basis. so far everything that s i'ven each time he speaks, there seems to be an admission as though there was not a reasonablesi >> overshadowed by all of this is whether tesla can iucrease prodon and sales of its newest electric car, the model three. >> there's also the question of whether tesla will beble to turn a profit in the second half of this year, as elon musk has promises. if that happens, don't be surprised i this summer saga about tesla going private quickly fades from the minds of investors who have invested in tesla and inelon muszing. phil lebeau, nightly business report, chicago. pfizer's experimenta study

shows promise. the medication reduced the risk of death in people with a rare heart disease by 30%. concerns were raised in the competition in the space. shares of pfizer were off nearly 2% to 41.58.an ile, shares of ionis, which make competing therapirs, saw t shares jump. netflix is reportedly testing out a system in af number international markets that lites new users subscribe to the reaming platform on devices. netflix shares rose more than 1% to 3.64.58. bloomberg reports that the company willee debut t new iphones with its largest ever,

with a 6 1/2 inch screen, apple has yet to announce a date for that. the stock rose a fraction. vm wear is buyin cloud health technologies in an effort to expand and streamline his cloud offerings, vm wear did not disclose a price for the deal. but they're expected to pay about $500 million. shares fellct fn to 150.03. shares of thehiaker rose after investors got a chance to react to a new productun anment over the weekend. the company said it was launching a high performance graphics card for data centers. that new card could hit a 12-year high rising 20% to 25.26. >> with the nasdaq at a record, should investors look beyond the so-ctoled fangs for opportunity? the portfoliooi manager us right now. hi, kim, how are you?

>> i'm great. >> let's start with the fangs, would you touch them at these prices. >> i think you should stay away, i think they've really benefited from great performance of the underlying business, but also for the last c ple ofyears, people have really piled into them and driven upheir prices, and the price to earnings ratio aswell. being this sort of value oriented investor thate, we we'd look elsewhere as opposed to fangs. >> you spread the net kind of wide, not all of tech is over valued or even fairly valued. you're still finding good values out ther >> we are. and they're kind of in the unloved or they've made a couple missteps sort of thing, or maybe in one case there's a lot of supply of their product out there, but we believe that it's

going to shortly turn around. >> let's talk about one of the stocks in the tech space that's been incredibly hot this year. and especially most recently. that's amd, the chipmaker, this a challenged stock for a long time, but it's rketed up, is that the one to buy now or should as a value player, should i look elsewhere, namely intel or amin. >> i wld look elsewhere, and that comes as no surprise. if you own it or owned it, congratuittions. up about 145% this year, way to go. looking forward, and looking at the history of the company. d their product lines. i'd be wary, it's difficult to keep executing at a high level. and in the past, amd has had some disappointments when they've had something similar ha en. a good product released.

winning market share andng t just seem to happen to the company. >> you also like intel as well, why? >> well, because it's kind of unloved at this point. we allnow that a couple years ago, they weren't sonling cell chips. that seems to not be an issue right now. amd came out with a chip using a technology that int has misses the mark on. we believe that because of their prior execution, intel is going to catch up and they still have a tremendous amount of market e. sh but investors do love growth, that's why amd is being rewarded right now. >> thank you very much. great to see you again. >> thank you. ou> the nations the death of senator john mccain who passed away over the weekend of brain cancer. during his years of service to ourcountry. the senator played a pivotal

role in busess related issues. he helped block his party's push to repeal the affordable care act. he became embroiled in the savings and loan scandal. decades later in the wake of the financial crisis, he investigated wall street wrongdoing, calling goldman sachs behavior unethical. an american hero and independent thinker who left his mark on the world ofes busand finance. > alt disney world employees could see their hourly pay theeased to $15 an hour by year 20.21. the proposal is part of an agreement reaed between the theme park operator and a group

of unions after nearly a year of negotiations, the new deal faces a vote next mombh by union s. it is expected to be approved. >> the entertainment ingustry is ha sizzling summer as moviegoers flock to the theater. more on the box office bounce back. >> hey, lady! >> from superheros, both animated and live action to romantic comedies. >> so your family is rich? >> the summeic box offe is on fire. the season so far is up 14% over last year. bringing the year to date totals up over 9%, to the highebo ever office at this point in the year. not adjusted for inflation. >> bh warner brothers and crazy rich asians top iping the weekend income f the year. >> this film is going to do ll it's a pure reflection of

the enthusiasm that all audiences have for the film. >> there have been some breakout hits like crazy rich asians. most of the summer's success has been in the back of summer franchise films. >> theiggest film of the summer, disney has piece of four of the five biggest films of t season. including dead pool 2 and ant man. universal jurassic world fallen kingdom was the second biggest film of the summer. the question is whether this summer surge can continue, or whether it w a blip in theaters ongoing competition with t netflix andhe like. inve ors seembullish. year to date, shares are up 10%. and i max sharesp are u some 5%. and fall and holiday films are already drawing buzz. including marvel's venom from sony, and disney's mary poppins oiturns.

>> i think we're to see the potential for a record breaking year or a near record breaking year, given the diverse content on the way in the fall and the holidayas movie se. >> the one factor could hold back the years totals, disney doesn't have a star wars film to draw moviegoers over the holidays, as it has in the past three years. for nightly business report, i'll julia boorstin, los angeles. there are reports that the bringpen is expected to in $350 million this year, which is significantly more than say then austral open. and that may be because of the changes taking place to reinvent that game. ic takes a look at the business of the spo from the national tennis center in queens, new york. packed crowds and thousands of fans at the u.s. open markse th unofficial end of summer as

the world's best tennis players gather in new york city for the fina grand slam. 2018 marks the 50th anniversary of the u.s. open in its crent form. when professionals were allowed to compete and a lot h changed since 1968. organizers compete with a 24/7 sports calendar. they hado keep the excitement year after year. picking up the pace and bringing the energy is >>key. he timeclock, we're going to have interesting things going on in the court. we hc,e mu we have all kinds of things going on. to make it an excitingt. ev we don't want you to have to be quiet all the time. it aeeds to be active energetic sporting event. and most -- eve three out of five matches don't last any longer than a football game. >> the u.s. tennis association has made a big push to getting younger people playing the sport. to attract even more fans, the usta has remodeled their headquarters to become more of n destinator tennis lovers,

offering low cost tennis-cation. >> most of our camps are three or four days. they'll play tennis notice morning and have a break. we have some social activities around it it really booming right now. in fact, we just opened last ye , our adult camp business is year.% from our first to speed up the game, there's a speed clock a a debate over weather the men's matches should be short. rafael nadal thinks the current format is best. >> i really believe it makes long matches. and matches stay there. >> like it or not, the srts worlds changing. and u.s. organizers are hoping the adjustments they're making will lead to growth of the $6n bill tennis industry. for nightly business report, queens new >york. r he most expensive car e

sold at auction fetched $48 million this weekend. as we told you friday, expectations were high, and the results disappoint. the ferrari 250 gto was sold by a formerso mic executive who bought the car in 2000, for what was less than 1/10 of saturday's sale price. talk about return on investment. >> yeah. >> good to he you back. >> nice to be here. >> that will do it for nightly business report tonight. >> we'll see you back here tomorrow night.

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