siness report with bill griffeth and sue herera. solid gains. when the week started, few would have guessed it would like this. at records. hiring spree, retailers are in search of workers forhe holidays. and in this labor market they could be hard to find. up in vape. teen use of e-cigarettes son the rise. sales are soaring. creating a big challenge for puic health officials. riose story stoes and more ton on nightly business report for finally aid , september 21st. and we do bid you good od evening, ever and welcome. what a week on wall street. stocks did what few thought they would do aft the white house on monday announced those tariffs on an ditional $200 billion of chinese imports, most expected the market to decline.

but instead equities unexpectedly took off. and the kept going. reaching new highs along the way. and it happened again today. the dow finished the -- with gain of 8points today to close at another record 26743, the nasdaq fellte1 points as nology continued to lag. and the s&p fell by 1 poowt. the and the s&p were higher for the week, especially the dow adding 2%. here is look backt an impressive week. stocks fell into the close amid the increasing trade tensions. > the white house has released details of the new tarfs on chinese imports worth approximately $200 billion. >> china made good on the promise to hit the u.s. back with tariffs. >> the tug of war over tariffs. >> our impact in 2018 is going to be about $40 million from tafrp related costs. >> manufacturing is growing in the country. the trade war has theotential set us back. >> investors seem convinced both

sides wan a solution and a deal here. >> people are making a mountain out of a >> every time there is a new semi negative nenl in trade everybodys spooked but i think investors tend to realize that this is just noise. >> the s&p and now the dow hit record highs. >> it was a historic run. >> snch record close, 12th of the year. 100th record close since the election. >> the year to date gain in the s&p is pushing 10%. >> you had a real risk on field this week. >> buts the rally moving too far and too fast. mike santelli looks at the market that defie expectations. to thedow's recent run record high in 8 months taken a that f 8% with all of progress coming since late june. the market has carried higher despite persistent trade friction with cna and through what historically has been a tough stretch for stocks in a augu september. the question now are stocks running too hot perhaps burning

the fuel set aside for a potentia fourth quarter rally? or the mechanic suggesting the environment is just right for no with brisk u.s. economic pace and extraordinary correspondent profit growth caying well into the second half of this year? the observable a signa 340e689 encouraging history says an index hit agnew high is a better indicator of a market strength than vulnerability stock markets overseas have dots with stress nlding in the global economy. the rally ha been more inclusivn he past week comforting strategy ifrts to show the market is nar redriven by tech the advance also occurred with the growing likelihood that the federal reserve will raise interest ratesor two times once next week and perhaps again in december. irthis is the 10-year treasury yield above 3% helped financial stocks and implies investors feel the economy isur enough to absorb higher interest rates. working against the constructive messages are some familiar concerns. stock vamgss based on expected

upper partved to the of the range for this bull market. particularly when compared to bond yields, also near a 7-year high. and both earnings g anddp growth appear psed to deaccelerate into 2019 eep as the fed projects further rateth hikes ugh next year. a yeerg year ago the major indexes were up a simil percentage on year to date as now as accelerated high are from there through past january. but of course a year ago the market was ego early anticipating the tax cut in december that has already provided business with a big boost in 18. it boils town down to a fairly up beat erekat with another clear picture of a recession on the horizon but how much of the abundant good news the market priced in remains an open question sberpg the year's final turn. for nightly busess report, i'm mike santelli. meanwhile across there atlantict talks between the united kingdom and the european union had an impasse and frustrated u prime minister

theresa may chamg the eu to come up with its own plan one day roafter hersal was rejected. >> the eu should be car. i will not overturn the result of the ferendum, nor will i break up my countr we need serious engagement on resolving the two big problems in the negotiations. and we stand ready. >> and ashe talks grow more tense investors are becoming concern that a deal won't reached. and that caused the british pound to fall sharply against the dollar and the euro. the uk is schedule he had to quit the bloc in march and believe it or not that is less than 200 days away. meanwhile a top white house official today said that the u.s. and mexico were prepared to movehead on new trade deal without canada. kevin hassette chairman of the council of economic advisers said the revised nafta agreement could be a bilateral rather than

a tril deal. he added the u.s. and canada are still talking but that a u.s. imposed deadline looms at the end of the month. and wal-mart is wtining that adal tariffs on chinese imports may force it to raise prices. in letter t the u.s. trade representative, the woret's largestler says the cost could increase hit essential items everythg from food and personal care products to bicycles, pet products, cribs even backpacks. the company says the results will be the skurmts buy fewer items or none at all meaningou suppliers receive less and retail margins shrink and rival targd it's deeply troubled by the escalating trade war which it says threatened to undermine the economy. time to look at some of today's upgrades and downgrades. at&t was upgraded to buy from neutral at ubs. the analyst says the stock is trading near all-time l

valuations. the price target is $38. the stock rose 1% t 33.78. under armour was upgraded to attral from underweight over jp morgan. the analyst sites the turn arou and expects it to meet earnings estimates for this fiscal year and next. the price target is v 20. the stock closed right around that level at $20.57. nike's price target 199ed to 00 from $85 at barkley was the pris target now the higheam g wall street analyst. the firmov praised iion at the company. nike reports earnings next week. in the meantime the fraction to 85.5 a, all-time high. home build he poulty home was downgraded to underweight to ovweight atp morgan siting below average order growth at the company. price target at $28. the stock fell a fractur sthun to 26.26. d> the labor market is tightening and somcribe it as booming.

yet despite the low rate of unemployment a curious thing is taking place create a big of an economic puzzle. steve liesman pieces it together. >> reporter: despite a decades of low employment rate and higher wages americans who dropped out of the labor force are defying expectations and not coming back at 3.9 petros the unemploymentright rate is as low a 80s as it's been in two decades but the participation rate, the% of the population t sayiy want to work, has been stuck for nearly three years a around 63%. that's the level it was back in 1977 before women came streaming into the workplace. what's happening is that the strong labor market brought some people in the prime working age of 25 to 54 back into the worker workforce. but it's not enough to offset the baby boomer reitees more of whom are picking up golf clubs every day and retiring. >> we are not getting enough of a return for the workforce to offset the forces to be in play for the next two

decades. u.s.e question is can the bring any workers off the sidelines to staff the strong growth in the ecomy? there is no one size fits all solution. foreomen i think employers h to offer more flexible work. many of the women out of the abor force are taking care of families with household responsibilities and they report they are content with lives. that's not allwomen. that's many of the women. and if you look where the u.s. lags behind other krers labor foene participation of w is now relatively low and we used the among the highest i world. >> is are. >> reporter: for men theyeay there issues about opioid addiction and trainin but why don't employers pay more. >> thereabs real retirisens to raise wages. a lot of companies told me we could raise wages but everybody else would it's a collective action problem. but i do think that there is some solution to this. and that comes in the fm of higher wages. >> one idea, the federal reserve should keep interest rates as low as it can for as long as it

can even risking inflation. to help push up wag and see if that gets people off the sidelines into a job. for nightly business report, so stimeve liesman. and in fact getting the workers back in the labor force is exactly what retailers would like to see because they plan to ramp up hiring in a bigay this holiday season. courtney reagan has more. >> reporter: forecasts suggest it's atrong holiday season for retailers and hiring signs are out at stores, websis and livery companies. so far, the retail industry has advertised more than 300,000 seasonal job openings, a number expected to more than double in come weeks. while the number of seasonal jobs is expected to be close with past years with unemployment at histori lows it may be harder to fill the roles which could lead to a more frustrating shopping enexpe. >> i think we're going to see a lot of short falls, even more lines, a lot -- you'll see

retailer sort of broaden the search and bring in people they wouldn't have usually broug in. usually one of the best indicators of how good the economy is is how about the services is because they can't staff up enough during the tight labor markets and better economic times. and the people that you get behind the counter have less skills. that is the reality. it also means they have to pay out for people. >> since retailers often hire from theame labor pool as hotelsestaurants and even construction, the hiring package needs to be competitive. target is startin pay at $12 an hour for seasonal workers. the same as the rest of its year-round staff.ea macy'snal impose will be eligible for bonuses just like the full-time staff. the department store ceo jeff beganette is confident macies will find the 80,000 workers it needs. he says macy is mother of a consideration than it used to be partly because of the companywide bonus program and sales momentum. retailers have started hiring for theolays.

kolls began holiday hiring months ago to have the first crack at the best employees ando to have time train them. on job site zip recruiter there were two times as many retail job openings in augusth than la raft year with openings far outpacing applicants bup recent grads retired individuals and workers like uber drivers are among those jfilling the a at stores websites and delivery companies during the holidays. the gig economy is part of a alternate workforce with job website glass door estimates is made up of about 16 million americans retailers could recruit. the tight lab it harder for retailers to bill fill seasonal jobs but for holiday workers it means a jolyer opportunity witter pay incentives for nightly business report, courtneyre an. still ahead, flooding threatens a keyorth carolina industry. its crops.

farmers in north carolina are trying to salvage wha they can in hurricane florences aftermath. for some the storm could not have comeor at a time for this critical sector of the economy.tate's seema mody is in the small farming untown for us tonight. >> reporter: it's a race against the clock for many farmers in north carolina to salvage as much of the crop in the wake of hurric florence. wind and rain damag much of the tobacco still left in the fields. and scott farms, a family-run, 14-now acre operation tells us it could lose 25% of the tobacco crop. >> obviously it has been

damaged. fortunate a lot of it has been tten in so far. where it goes from here we don't know. >> reporter: the farm grows sweet potatoes making up 70% of the revenue. theyere still underground when heorence hit halting the havre. scott farms saysrop could see losses of 20% or more. >> harvesting sweet potatoes we have a narro window o when to get it harvested we need to to get it havred before the frost hits. when an event like this comes and w can't harvest it narrows the amount of time we have to get the crop into theou. that's -- it's a problem that you deal with and up front and also down the road. >> reporter: the impact of florence's heavy rains is being felt acros the state agricultural is the number one indu the population.sixth of sanderson farms one cht largest ultry producers warned in a statement this week process bird losses from florence will affect the fourpgt quarter. and so far 5 a hundred hogs have

died, nearly double the number lost during hurricane matthew in 2016. due to excessive flooding, a number of la gones are at risk of releasing pig waste into the flood water c raisingoncerns about water contamination. andn'f thatt enough, tariffs are weighing on north carolina's $87 billi agricultural astro. china is a states top trading proton fring a products and. key crops like soybeans and tobacco and pork. but most farmers are reluctant to comment on tariffs. strickland farm in nearby mount olive says it wants to se level playing field with china though admits thengng trade dispute has inflicted pain on their business. for now, farme cro the state are focused on rescuing as much crop as possible. for nightly business report, lucama, dy,

carolina. med tronic inks a deal to row a medical device poefrmt that's where we begin the market fencing. but they said they were buying the rest of the roentic company it doesn't own for more than $1.5 billion. the deal they said adds more robotic guided systems to the spinal surgery technology, shares of m tronic rose a fraction toan 97.85. ile sharesment mazor robotic popped. yal dutch shell is reportedly in talks to sell its stake in an oil field in theulf of mexico to help pay for the $50 billion takeover of bp group. bloomberg says tha deal values shell's position in the field at nearly $19.5 billion. shares of shell rose a fraction to7.. british online fashion retailer far fetch made a dut on the new york stock exchange today. it priced the initial public a offeri$20 a share. a dollar above the high end of the expected range. giving that company a market

valuemo o than $6 billion. and it was an impressive first day of trading. shares gained more than 42% to $28.45. and mcdonald's says it's hiking the quarterly divyend 15% to $1.16 a share. th fastfood chain raised the dividend for 42 consecutive years. mikki d shares rose 3% to 165.30. it is time now for weekly market monitor who says you can find value in this marke even at these levels. the last time he was on in october of 2017 he recommended wynn resorts you want 46ors sonic up 40% and penske automotive group 2% lower he is tripp miller. good to see you, toich. >> gooee you. >> you are sticking with wynn resorts the company had a rough patch when steve wynn stemmed down but the overall longer term

performance of the stock is good. ee >> yes we have satisfied over the last year. although in the last six months the stock pulled back meaningfully as long-term value ins we look for business nas qualify both qualitatively and quantitatively and wynn does that. we feel like under new management, new board leader. under the new lead with company that we have exceptional management in place that can execute the long-term plan that steve wynn began. on top of that they have irreplaceable real estate assets and brands and catalysts coming in both boston and internationally in macau earning earnings higher. >> quick to spectrum brands everything from plumbing surprise to shavinghe supplies but the stock has suffered mieltly the last couple of ye ws, i guess that's you like it? >> yes, we have been buying into it recently on the pullback. we have watched it pullback significantly over the last year. but they are similar to wynn we have a management change in place under dave ma a

legendary investor joe ste tberg on board as well who did an exceptional job. they will be selling off ray owe vac to eneizer generating about $2 billion in cash they will use to pay down also boy back roughly $1.0 billion of stock in the next couple years and theshree low and earnings are growing. we like that as well. let's finish up in l thet 30 seconds with fedex. also strong leadership. >> yes absolutely under founder 7% of the who owns shares and his team we have been long-term shareholders and believers inedex as you mentioned the stock is down but we believe they are growing free cash flowarndngs at a high rate and ner in duo oply in the spacing with the acquisition of at any time is making them stronger. >> thank you very much tripp. you can read more about his stock picks on the website. nbr.com. coming up howanada takes the lead on cannabis.

marijuana stocks got a lot of buzzs week. that was partly due to tilray, which is ase haveeported was up sharply midweek, halted ltiple times, only to end in dramatic fashion with a 30% fall today. >> and just as investor intndest arannabis is growing wouldn't you know canada is getting ready to legalize recreational marijuana nt month. kate rogers is in ontario for us tonight. >> listened marijuana producer are gearing up. the move implemented by the trudeau government mak it the

first g 7 nation to legalize thn while cannabis remains illegal at the federal level in the united states. longtime cannabis executive executiveaf i is hoping to cash in. he has investein growth, research and retail. his one concern, there might not be enough produn store shelves. >> we will see empty store shelves. because we have seen it every other place that has legalization. there will be a lack of prd in the first year. many of the producer a oss the country are ramping up production but there is a lag to catch up. >> another unknown this s of green is the marketside for the canadian astro, analysts say it's anywhere from 4 to $10 billion i the next few years. >> they expect to grow as multinational companies make and exple deals, bringing the product more mainstream. and more investment expected. >> i don't think there is anybody that's not eyeing an opportunity in cannabis. i do believe that there are many

people on the sidelines many companies o the sidelines vying for an opportunity. >> reporter: another thing industry insiders watch, what this means for thema u.s. et. >> hopefully we can show america and the rest of the world that legalization is the right thing to do. 's very important i think to, you know, put the money back into the people's hands. government will generate a lot of revenue and taxes that will add a tremendous a jobs especially to small town america. and so i think it's r lly important that the world gets to see this and hopefully followsn 's lead as a g 7 country. >> as canada takes the lead on cann ois, the restthe world is watching. for nightly business report, i'm kate rodger in ontario. >> but phillip morris says it has no plans to enter the cannabis market. the ceo says the company has enough on its plat adding it is tasked with the challenge of getting traditional smokers around the world to switch to smoke-free tobacco devices a growing par of phill

morriss's business. elsewhere a new report says electronic cigarette u.s. is soaring among teenagers. the wall street "wall street t journal" say number of high school students using theci e-garettes has risen 75% in the past year. betsy mckay who could wrote the article jns us tonight. and the fda is paying and trying to stop what scott gottlieb calls an epidemic, right. >> that's right. last week the fd said it was starting to -- considering the ng flavoring in products in e-cigarettes because that's a real draw for teenagers. >> s. and it has ultimately addiction qualits to it. and that can lead to very difficult health challenges and costs down t road, right? >> that's right. i mean, the products have a lot of nick teen in them. they certainly aren't cigarettes. t they don't hav toxins that toerk has but they have high levels o nicotine.

and public health officials and nicotine iny about developing brains. it definitely has an effect. and your brain develops until the late 20s. >> by f the biggest company in the industry is juul, ming wh teens love it's a very hip looking kind of a vapeevice with the flavors and everything. ut the industry itself i relying on the teen market. heat's where the biggest growth is. if fda stops that growth, what happens to the industry, do you think? >> well one of the big questions actually is where is all in growth coming from? i mean the ecigaree business, you know across the board has been growing a lot in theast year, led by juul. i mean, juul is a real innovation a breakthrough in the market and others are copying it. one of the questions until this year is how much of that growth is actuall coming from teen use? but the data that we reported

starts to help answer that, because there a hasn't been data out there in 2018 yet. but, you know, it still open question. it's hard to know with sales how much of it is going to'r teens. th not necessarily the ones actually buying the products. >>ight. how does a company like a juul -- did and there are others in the space as wel -- walk the fine line being in compliance with the fda but still troig to sell its product and make a profit? >> yeah it's tougher. i mean they say the target is adult smokers. and when it comes tovo f for example what the fda has its eye on right henow, say that's important for adult smokers. people who want to suitking want to get away from the tobacco flavor they say. buttlavors are w are drawing teens. they are trying to reach out more to adult smokers b ty have a very active teen market right now. >> that is for sure. betsy may with the "wall street journal" interesting, thanks for joining us. >> thanks. before wego let's look at

the final numbers from wall street. the dow rose 86 points to a ppcord 26743. the nasdaq d because of technology. the s&p 500 fell 1. the d and s&p were higher for the week. and what a week it was. >> inde. >> thatoes it for us tonight. i'm sue herera thanks for joining us. >> i'm bill griffeth. have a wonderful weekend. we'll see you monday.

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