business report with bill griffeth and sue herera. racing ahead,epikets double digit profit growth. but expectations were higher. and invesay have wanted more. i haveaid clear our trade imbalance is just not acceptab t. >> presidemp addresses the united nations general assembly saying the u.s. will no longer tolerate abuse on trade. and stocks struggled to hold gains. paying for college. saving balances are at a record. well that's good news for parents relying on financial aid more than ever. the stories and more tonight on nightly business report for tuesday, september5th. and we do bid you good evening, everybody. as expected, ptosident trump a hard line on trade during

that speech at the united rn nations this g. we have more on that in just a moment. but we beginning with earomngs nike, the world's largest athletic apparel maker better than expected profits at a time the company is working to reshape its business. it was also a quarter that you saw nik launch the controversial new ad campaign. well the company earned 67 cents a share, 4 cen better than expectations. revenue rose 9 peppers toearly $10 billion. but obviously not enough for the markets. ter a % run so far this year, the stock pulled back in initial after hours trading tonight. sara eisen has more on the details the new york stock exchange. >> reporter: nike continues the streak of steady growth process. for investors who loved the stock all year-roun they got the answer in the form of 10% growth. now, nike saying growth thanks

to key mkets like ch china which continued to come in in line with expectations as well as the north american market -- it's been key. nike returned to growth last quarter in north america. it continues twt post g there. this time of 6% in terms of the sales. now some have questioned nikehe recently on back of that controversial ad featuring kaepernick as the face and voice of the just do it campaign. but so far investors have shrugged iheoff andll be listening for any comments from executives as to thempact on sales. but so far that ends the correspondent culturecandal that shook up some of the key management roles at nike in the past year have not managed to throw nike offrack on growth. it'socused on international, focused on newn innovat and key styles, focused on its tlts andelling its story, also focused on the direct consumer business. nike.com and nic ostores for main business growth.

moreightly business report, sara oeisen. >>rall on wall street stocks mixed. the only index rising energy ares not enough t offset trade concerns. the dow was down 69 points at the close to 26492. the nasdaq gained 14. the s&p was down 3. both trade concerns came from asi speech the pnt gave to the united nations general assembly where he took a hard line, saying he will not allow american workers to be victimized or our companies to be cheated. amm emin javers has more. >>. president trump making a declaration of independenc from globalism at the united nations. sialing a uni lateral approach to foreign policy. and dismissing themultinational diplomatic efforts of the postl ar era.

>> america is governed by americans. we reject the ideology of globalism. and we embrace the doctrine of patriotism. >> the president cled out specific opponents for criticism as he stood before represente was of th 193 countries at the united nations. >> we can't allow the world' ading sponsor of terrorism to possess the planet's most dangerous weapons. we cannot allow a regime that chants death to america and that threatens israel with annihilation to possess let means to deliver a nuclear war head, to any city on earth. just can't do it. opec and opec natns are as usual ripping off the rest of the world. and i don't like it. nobody should like it. the united states lost over 3

million nufacturing jobs, nearly a quarter of all steel jobs, and 60,000 factories after china joined the wto. and we have racked up $13on triln trade deficits over the last two decades. but those days are over. we will no longer tolerate such abuse. >> despite the harsh rheric on china some argue the president was effective. >> the presidenton was sr today when he went after china on trade. and i think he probably had a lot ofupport. from people in the room. who have been victimized by china. >> but skeptics said they doubted trump's policies will deliver the results he is promising. >> ife was really serious about opec and the oil price, you know i ts very clear main reason the oil price right now is going up is because of the threat of a. u sanctions which obviously he instituted. so he could do som that right away. but obviously he doesn't want

to. >> tomorrow psident trump has another day of international diplomacy including meetings with leaders of israel, japan and the united kingdom. emin javers in new york. the ident's comments on opec and repeated calls for more oduction did not exactly result in decline in prices today. in fact oil prices h a four-year high today settling at about $72 a barrel. joining us tonight to talk about the oil markets and where prices could go from here. the founding partner at again capital. welcome back. >> thank you. >> we have contrasting points of view here,y slo iranian oil coming off the market ahead of sanctions there. and the wants saudi arabia to increase production. but so far they don't want to do that, right. >> certainly not in a full-throated fashion, bill. and not tooeoon. saudis responded to pressure from president trump earlier in the year. you saw it drop back in july from $75 to $64 quite a drop. >>right.

>> i think they are afraid of repricing that. they are coming to the rescue of high prices but i think they will make us sweat it out a little bit first. >> if they are going to do that, john, how much more upside do you think is left in oil. >> here is wre it's tricky, sue, because they aren't good at managing the market when it gets away from them to either up or downsi it's hard to cut back when prices plunge. they scramble now and question question abilities when prices go u easily $807 for wti, the u.s. marker is in the cards. beyondthat, i think the saudi ys will respond to brez to put more oil on the market and be f moward leaning about it. but there is increasing talk about 95, 100, the only savior there for motorists it's almost approaching conventional wisdom we could go that high. so probablyha won't en. >> along the lines in the saudi regime you are watching the crownrince carefully right now aren't you. >> i think that's being somewhat

overlooked. he has been very aggressive in terms of trying to do various things, bring the saudi oil company, thepa aramco c public, much to the diay and chagrin of leaders in the kingdom. he has been jaili quite a number of the old guard that haven't been released. you've heale about not releases. a lot haven't. he has been getting significa pushback. she shelved the audio y ipo. >>at is hardly a rebuke from the king. e have 30 seconds left. the president took a hard line on iran. any chance that he and rouhani will talk in what will that do prices. >> rouhani's speech tonight was interesting. he laid out a frawork for the trump administration to get back to the table sort of technicalle. but it could happen. i think president trump is outreach president trump might go for. it m be a running into each other in the hallway could bo something happen. that would be a bearish move for oil. we would like that.

always gooden insights. thank you, john. >> appreciate it. ld> well the trade deal with mexico c move ahead without canada. the u.s. trade representative i says that the still a fair amount of distance between the two countries. andt t canada is not making concessions in essential areas. complicating e-nos are tariffsor imposed on id steel appear aluminum. business groups and lawmakers warned against a bilateral agreement. elsewhere, bmw cut profit forecasts for the year today. citing concerns about tariffs. and new european efficiency rules. the comny said the trade duties hurt demand more than expected and put pressure on prices and on profits. the auto maker added that new emission rules led to increased competition that could also ultimately hit its sales. the warning rippled through the sector sending shares of auto makers and auto parts makers lower today. concerns,te trade

consumer confidence rose to the highest level in 18 years. the latest rort fro the conference board shows households are increasingly opt michkbout the labor market and the overall economy. the survey shows thator now consumers are shrugging off global trade tensions a the prospects for higher prices. and a new survey shows most exists and money magers are upbeat and the economy and the stock market just as federal reserve policy makers begin the latest two-day meetings in washington today. steve lies many has more. concerning amid over tariffs inflation and fed rate hikes wall street is looking for modest stock market gains and solid economic growth. the cnbc fed survey shows orparticipantsasting 3% growth this year slowly slightly me 2.8 in 2019. and unemplnt will keep ticking lower accordingth t 46 respondents include economists fun managers andte gists. >> it seems the market has done a god job of saying we will

worry about the tariffs when there is evidence thefr harming the economy. ocus on whatet's we know and the economy is sfrong and the earnings are stupng. >> the g forecasts the s&p 500 will rice to 2956 this year and 2019 comfortably before 3,000 level. the 10-year treasury forecast to rice 3.5% from the current level of 3.1 as the fed pushes the benchmarkhort term interest rates. respondents see another half point of hikes from the fed through the end of 2018 another half pnt next year. with strong t stimulus from tax cuts and deficit spending most thing the fed has to raise rates high enough to slow the economy down and wd off inflation. inflation is forecast around 2.5% next year. we have just about every inflation indicator pointing upwards. fire.is adding fuel to the i think we hear more hawkish comments from the td. >> despi concerns over inflation and fed rate hikes anp tradetectionism the survey shows only a small kmans of recession in the next 12 months

baked in by wall street. for nightly business report, steve liesman. it is time to look at some of today's upgrades and downgrades. intel was downgraded to sell from mket perform at raymond james. the analyst cites manufacturing issues. and the firm expects t problems to last for a while. nhe analyst depose not have a price target the stock which fell 2% to 49.91. dollar tree was downfwraded to neutral from boy at bumming ham. the analyst cites challenges and under performance .price target is 92. the stock fell a fractioo 85.26. color ox was upgraded to buy from hold at argue us. the analyst there cited innovation at the company aot thetial for increase in revenue as a result. price target now $175 but despite that upgrade the stock fell act fn to 149.64. raisedzon's price target again, this time to $2,350 at

jeffers. the analyst cites the new initiatives and growth opportunities. the fm did maintain its buy rating. the stock gained nearly 2% today and closed at $1974.55. >> still ahead, political drama. but not in washington. in london. and it could he economic consequences. political drama islaying out in the united kingdom where the odds b of a secoxit vote just rose. brisson's opposition labor party voted overwhelming i refor the legislators to reject any brexit deal the conservative led government may make with the european union if that agr ment fails to meet several

requirements. our reporter is in london for us tonigh >> reporter: even by the standards of brexit he is a increasing complex narrative labors announcedment, the party kerchs the instituted a major plot twist. the parties point person on brexit insisted to members that britain's departorfeiture t european union was far from guaranteed. >> if we need to brake the impasse our optious must include campaign topic are a public vote and nobody ruling out is remain as a an option. >> but as jeremy corbyn may not haverefd the promtz that caused a standing ovation. corbyn earlier told supporters that a fresh election could end the deals deadlock between the uk and eu. >> if this government can't deliver then i simply say to ma ahey, t general election. >> but this socialist man of the people may find himself at odds with the parties own grass

roots. a recent poll found 86% of member would rather stay inside europe. and those divisions in the opposition labor party are noss ronounced inside the ruling conservative was mps in the parotament behind those who like and dislike brexit threat. ening to vote down the proposals by theresa may. llementke's may's par difficult given her slim majority in the house of commons. for now her cabinet continues to support her proposal kwn as checkers. but shehensists it's t only workable brexit option. but as she travels to new york fohe u.n. general assembly she is fighting on multiple diplomatbo fronts. at home and abroad. for nightly business report. london. >> qualcomm alleges apple stole trade secrets andave them to a rival. and that's where we begin tonight' market focus. tensions between the two tech giants heat up. aga

and this atom apple is accused of stealing proprietary software including mod emchip designs and giving them t intel. qualcomm said that sloued intel to develop competing chips at lor cold front. apple onced use qualcomm chips exclusively in thees iph between 2011 and 2016 but starting this year it has used only intel chips. shares of qualcomm fell 1% to 72.74. apple shares rose a fraction to 222.19. does notc maker j bell expect margins to improve until 2021. the company blamed increase in spending in order to drivero overallh. shares took a beating today, down 7% to $27.90. and food safety company neoaga said higher sales of the food borne path again testseelped verall revenue but it went enough to stop estimates. company did however deliver earnings beat. and said that two recent squikss

should help strengthen the performance in the future. the shares fell 15% today to 74.69. shares ofadp and paychecks saw the shares fall process. after fintech skp square said it's launching paifrl services into a mile app. square said that app will allow employees to kbor are import work hours through the app and uare willandle the filing and the payments. shares of adp and pay checks lower on the day. meanwhile square popped 10% to 95.35. the fast food chain sonic is being bought for more than $2 billion. equity r is a private backed firm owning restaurants ashies and buffalo wild wings. shares of sonic popped8% to $43.46. and after the bell the home buildinger can kb home reported stronger than expected earnings thanks te in deliveries of new homes. the company saw total revenues rice. shares initially ros in after hours but finished the regular

day down nearly 1% to 25.29. new figureshow that 529 college savings balanced have reached a record. total investments this year hit theall-time high of $330 billion up 3% in the last six months alone. the average 529 account balance is now more than $24,000. but despite the t benefits fewer than half of parents used these accounts to save for higher education. so even with the total number o 529 accounts at new highs, families are still relying on financial aid more than ever as college continue to climb. a new survey shows parents are also not willing to take on as much debt as they were in the past. senior personal finance correspondent sharon epperson is with us today. good to see. >> you good to be here. >> they are saving more. 529 balances are high but not willing to take on more debt.

>> that's good news. we areents are saying no not taking on all the debt ourselves. a year ago more than a of parents said they would take on $75,000 or more in debt. this year only 14% of parents are saying that according to a new t rowe price food andll 25% take on between 25,075,000 in debt. i 61% saying has to be 25,000 or less we are not taking on more than that. >> so they're being smarter about taking on debt. but there is a gap when it comes to paying for college. so howyo t close that gap. >> there is a major gap. when you look at what they ar saying they are able to pay. 75% of parents are saying i can only pay somef this. and only 6% are saying they can pay all of it. what are they doing bridge the gap? it's scholarships and loans that is the most of s it. bue kids are going to have to work. and some parents are going to use regular income to cover it. and then you havde ss loans either the kids pay for the student loans or the parents are paying and often both.

>> all right. so if you want to -- i'm taking notes b tause i have that are going in shortly. if you want to do financial aid, fine. if you want to do sch arships angrants, how early do you have to apply for that. >> well it's all part of the final packageften. even though as school or state deadline may be a while want to do the free application for federal student aid as soon as it's available. monday, october 1st. you can start october 1st o start applying for financial aid for the 2019-2020 school year. what you have to get together. can you start this we could. geax the federal returns together. bank statements, investment records. and even start using on monday the myid student app the department of education is putting out to try to make it simpler for peele. hing to know is to really try to do this as soon as possible. october 1st is when you can start. but the earlier you do the better because sometimes this aid is on a first come first serve ba ts. you waget as much as

possible. >> bill isse mileage bec he is don. >> i know what you are doing this weekend. there. not quite i have two years to go. thanks sharon. >> sure. >> sharon epperson. coming up teens and plastic weather abfast growingndustry raising a lot of questions. theen justice depar met with state attorneys general today to discuss how tech companies handl user data. the california attorney general said the focus of was to see if privacy issues can be addressed using anti-trust law. the meeting was short and the group mile no plans to any case or open an investigation. and the ceo of google is reportedly going to be meeting with lawmakers in washington

this week. he is expected to address a range of issues, including the company's business dealings with china and those allegations of political bias in its search results. the meeting was b organized house majority leader kevin mccarthy. the founders of the instagram are unfriending facebook. kevin systrom and mike krieger are leaving the network in a statement they said they are grateful for the six years at facebook which acquired the company for $1.0 billion. there are rorts of disagreements with facebook ceo mark zuckerberg overhe photo app's direction. zuckerberg nonetheless praised the founders calling them extraordinary leader leaders a greater numbe of teenagers are going under the knife for skmetic surgery, according to a report publishedpy the american society of plastic surgeons. last year nearly 230,000 procedures were performed on patients between 13 and 19 years

old. in fact, teens accounted for 5% of allme ccic surgeries in 2016 and the industry has a whole broughtre in han $16 billion. some of the most common surgeries requested byee were nose reshaping, breast augmentation and ear surgery. joining us tonight isoctor allen maderazo president elect of society of plantingha surgeo >> you for having us. >> why is this happening? how much does social media have to do with all of this and the influence it has on teens. >> there is no question that social media has a tremendous impact on people's perceptions of themselves, people's ease in which they talk about plastic surgery. and there is different pressures on day's youth than there was on our -- in our times. >> yeah. >> you know, also teens have alwaanted to kind of fit in. now i think there is more social pressure as ever.

partly as bill mentioned from social media but also because life is very different for teens -- and i have two teens. i get it. but it seems like a veryou dang trend. >> well, you know, things like nose reshaping, breast surgery, usuallyctually to reduce breast size in men and women and ear surgery have been always polar procedures. teenagers don't want to stand out. they want to look like peers, feel normal and not feel the pressures that society puts on them if they don't look the same. >> how much do the procedures cost? does insurance cover this? who pays for this? >> we, some of these are covered, for example, very large breasts in a developing female may be covered by insurance. breathing issues i the nose can be covered by insurance. ose that are cosmetic are self-pay and the fees vary according to regions of the country, complexity of the procedure and the background.

>> which suggests to me that mom and dad have to be a part o this process. >> and 529s don't pay for it. t >> but bill's point about being involved, tell me wha k i need tw as a mom if my daughters or my son come to me any say, you know, i really want to change the way i look. >> that's actually the most important thing. it h to be self-motivated. it shouldn't be a parent or a friend telling them that you would like betterou did this. so that's the first step is that they he to approach you, feel that there is something that bothers them. and then it's a process from there. you have to look at their emotional maturity. thr physical maturity, what their needs are, what expectations are. d then when you get into the consult situation a board certified plastic surgeon with a member of the american society of plastic surgeons. and you have a discussion of the expectations. and you want them to understand the healing process, what's involved, the risks. >> dest change the self-esteem have you found. >> it can have a tremendous

impact on a teenager who won't look up because they are covering their face or a child who won't go to gym class or ears that are protrudingfo ard. it can totally impact the teenager teenage years. it leaves an indelible mark on your psychological well beingap whatns in those years. >> with the american society of yastic surgeons tha for joining us. >> thank you for having us. >> interesting. >> it is fascinating does it for us tonight. thanks for joining us ton. i'm sue re. >> i'm bill griffetve ha a great evening. see you tomorrow.

>> this is "bbc world news america." >> funng of this presentation is made possible by the freeman foundation, vler 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 tomind, and then we begin chisel.