business report wit bill griffeth and sueerera. stocks slide. markets fish the week with losses as a further decline in s oil priceark concerns of a global economic slowdown. picking up sam. a key gauge of inflation rose at its fastest pace in six years and did noto unnoticed by investors or the fed. up for auction. the priceyest listing in country will soon be owned by the highest bidder. those stories and more tonight on nightly business report for this friday, november the 9th. and w do bid you good evening, everybody. welcome. sue is offshonight. a f round of selling hit wall street today. stock prices were once aga led lower by technology shares, and

by nrpg stock after oil fell for a tenth straight session. its longest loskg str in 34 years. here are the closing numbers today. 2010 pointsdown back below 26,000. the nasdaq fell by 123. the s&p declined by 25. but after this very busy week with the midteelections, the fed meeting and more earnings reports, the major arages were all higher thanks in part to ths big r rally on wednesday. not so for oil. though. today defect crude settled above $60 a barrel. a stunning reversal from just a month ago when it hit the four-year high around $76. now even though oil prices have been falling overall, producer prices have been rising. a lot. the closely watched inflation gauge rose at the fastest pace since 2012 la month. adding to concerns about the path of interest rate increases by the federal reserve. steve liesman has details for us tonight. >> reporter: a hotter than

expected report on when will sale prices has economists wondering. does the u.s. have a brewing inflation problem? with highe wage costs, tariffs and faster economic growthec omists think it's a concern worth taking seriously. the government reported 0.6% rice in the october producer pricindex. twice what was expected. the ppi was fueled by gains in transportation and warehousing costs and wholesale goods and foods. economist steven stanley with am heert wrote food commodity prices turned higher after several months of significant declines as farmers struggled in the wake of retaliatory tariffs on products by china process when compani face higher prices they have three cases reduce profits pass along the costs or increase efficiencies. >> businesses have not been able to pass higher costs on to consumers. and you see that in some of the recent announcements where you see the chains are consolidates operations.

in some ways to get a handle on labor costs and get efficient operations. they are tries to squeeze more efficiency out of the operations because any can't pass through the higher costs. >> theppi is up 2.9 peppers year over year but with seller quirks. economists are reluctantant to embraps the gauges on a full tenld flenld threat. intd they look to next woke's consumer price report. it looks like the fed is locked into december. saidpi running hot as y will help lock them in. the cpi next week, probably wnl be a touch the hot side. >> so to the question whether a inflation problem it's probably too soon to tell. but definitely wor your eye on the price. for nightly business, steve liesman. so how concerned should consumers and investor be be about inflation and the impact on our fed pheicy on markets? joining us tonight jason wary chief investment officer and

chief onvestmenters at alban yan financial group. good to see. >> you thank you. >> you're not thatrned yet about inflation, are you. >> you know, we're not. if w look at the broad preponderens of inflati data the evidence suggests we run close to the target inflation, in and around 2%, articularly ore basis, whether it's ppi as you mentioned o consumer prices, cp preferred measure for the fed pce. things like like they are in check. we're in the conrned for now. >> is there a number that concerns you? is there a level we get to where you say now we are having a problem? >> yeah, there is, as we see inflation creep up closer 3%, the stock market and the fed will take i think a more direct notice at inflation running at thoseai levels. headlines can be noisy. it's important to pay attention to core infla.on numbe as we get close to 3%, close to 3% that'something that has us more concerned.

and and in particular watchin wages and labor costs as an indication of that. >> now, we often just characterized inflation as a bth g. something to be avoided. but there are sometimes winners in inflationary periods. and you sent us a list of some. i want to run through those quickly and maybe get you to comment on a couple. you talk about compaes wit pricing power or firm that is produce and sell for example emicals, oil companies, then there are raw materials producers, real estate firms, real estate investment trusts, and index inflati -- or inflation indexed bonds. re nep of those looking to be attractive to you yet? are these things you want to think about investing inou as anticipate inflation? >> you know, not so much. and here is why. one, because, again we are not concerned about inflation running hot. two, because invesrs should ve a diversified portfolio that captures the upside if we

get enflags in a more natural way, a natural posture. intsd tryingo predict whether inflation goes up over the short ncn as much as we tried to do that with evi nobody can do repeatedly over time. i think it's important that investors have atfolio that has some exposure to areas where -- that will do well when inflation goes up. but also exposure to areas that do well when ilation is in check like today. i wouldn't load up on any secretary erps in thest although that's typically the whose who of suspects that do well in. inflati every environment and cycle is different. arevariables to return difficult to calculate and don't always show up in the same way each time. just having a diversified portfolio to capture the returns in the market is the bes for investors to position themselves. >> very good. jason ware thank you very much. >> thank you. >> elsewhere disney was the best performing dow pony line com

today. shares rose is.5% after the strongas quarterly results night we told you about. while the studio business powered the bottom ne in the recent quarter, the company is making a high stakes push intot di as it looks fore futur growth. julia boorstin has more on disney's strategy. >> the ceo b iger announcing that disney plus is the name of the streaming app lawmaker being next year featuring the marilyn bronzed plus fox's national geographic. >> t product will appear on our service and not third party services. >> as for disney's first direct sumer app espn plus iger says it's doing extremely well. >>enderstands that the fundamental thing about pennsylvania digital economy is that you can go direct to consumer. he is not burdened by having a cable network -- i mean cable, you know, operator. but he has espn. and he is shifting that away so

that it canec got to consumer. >> iger says the company is also planning to invest in hulu and hoping to grow it internationally. iger telling me that after disney's squiks of fox closes he woul i be intereste buying the remaining 40% of hulu from him nbc universal and at&t warner media. >> our plan is to -- to invest in all three services, the espn service, disney service and hulu service so we achieve our foles in terms of not just going into the direct to consumers space but transforming the company by being in the space. >> witho many streaming options including netflixnd amazon investing heavily in content, the question is how many ofhese services customers will be willing to pay for. the competitor is essentially netflix is entrenched. you at the time additional sign-ups for disney. but it's sortf still like a thing where you subscribe to many services i think.

iger saying he sees a huge family audience to target with disney plus. and now they're working to have enough volume of quality content to attra subscribers. for nightly business report, i'm julia boorstin in san francisco. big changes are coming to another dow component, proctor & gamble. a new ceo is shaking things up at thecompany. he says he is willing to change anytng and everything to inside results and create value for shareholders. havestors parental like idea. they sent the stock higher on this otherwise down day. sarah eisen is in cincinnati wrp p&g is headquartered. >> proctor & gamble announcin what i calls the biggest organizational shake-up in more than 20 years. it's dividing up the company into six different business units like grooming, and beauty that cover the biggest market like the u.s. and china. it's a shift in the way p&g does business to make tngs more

simple, less complex and lead to faster decision making andbe er innovation. ceo david taylor says it's the latest step in amu i-year turn around. >> without a question the goal for all we are doing, both our superiority strategy and organizational changes is to get the balance growthnd value creation. we believe strongly the path we're on which is leveraging superiority of the product, the package, our go to market capability, our communications and consumer and customer value, doing that right will cause us to a big part of winning going to market is making sure we are ajill to serve the customers. >> and the turn around is bearing fruit. p&g poechted best quarterly sales growth in five years. despite the fact that the macroeconomic conditions are tough. that hurt p&g in the form of a stronger u.s. dollar.gh commodity costs. and, yes, the trade war. >> what i worry most about with the trade war is if if destroy consumer confidence in american brands. and i have notha seen as long as you are producing in

china and most of our brands we do -- then the tariffs don'tha a hunl impact. do i think -- i would love to see this be resolved. it would be good for the global economy, goo for our country for mcfor a productive and constructive resolution of this. it's not good. our company believes in free and open trade. that raises all boats we think. >> while taylor isorried about the impact of the trade war, particularly confidence in brands, he ss the dollar hurts more and gnat global economy looks to be in good shape. all ten categories he says are growing not just in the u.s. but globally and even in china where there are widespread reports of a slowdown. for nightly business report, sarah eisen in cincinnati. turning to california and that raging wildfire -- two of them actually across the state in the southern part there is concern that the santa ana winds will fuel the fire storm further. evacuations have been mouing in ventura and los angeles

counties. in the north a deadly fire there n size quadrupled overnight wiping out the entire causing aradise and tens of thousands of homes and businesses to lose power. in fact shares of processingg a 16%. the and edison international, the parent of southern california edison fell by 12% in today's trade. time to look at some of today as upgrades and down grades. starting with g.e., the price target c to $6 from $10 at jp morgan. the analyst citing theecent quarterly results which he said were worse than expected. the firms maintaining the underweight rating. shares fell by 5% to shh 8.58. the lowest close since the financial crisis of a decade ago. >> monster b aerage wased to the conviction buy list as goldman sachs. the analyst says c thecerns over a competing drink from coke

are overblown. price target, $66. the stock rose by 5% to 56.84. yelp downgraded by a number of first including raymond james cutting its rating to marketm perfrom outperform. the analyst says the bull case for this stock has come to an end following the disaping quarterly results which we showed you last night. the firm also pointed to yelp's productivity pms. the stock tanked by 26% to $33.93. still ahead wit in oil prices you might not have the stomach to buy stocks in that sector. but our market monitor this week says there are some names worth owning.

a judge in montana has blocked constcts of the controversial key instant oil pipeline. the roul said the trump administration which approved in construction did not take into account the effect the project would have on climate change. the pipeline is designed to carry heavy crude oil from canada into the united states. transcanada, the company behind the projes s it remains committed to building the pipeline. but investors were skeptical, sending shares down in today's trading. earn is waiting for word from amazon on where its second headquarters is going to land. reports earlier this week said that it could be split into two locations, one in long island city new york, thether in crystal city, virginia. in the meantime investors keep an eyen a group much stocks that could be impacted the most if hq 2 is split in two. diana olick ebb has more for us. >> reporter: the signs look f pretty goodor long island city new york and crystal city,

virginia. amazon has not confirmed its choice or choices for hq 2. but investors are honing in on th stock that could benefit. so apartment reits are inlay. for long island city. alvin bay is a clear wner with direct exposure there. the tok jumped high are after reports that crystal city was in island and then long city could share the project. alvin has been in long island over a decade witshefrl high rises from manhattan overalldg across the b others are udr and equity residential. they have about 10% of the portfolio exposure in manhattan and brooklyn. >> picking lon island city is huge for manhattan. let's face it.re there's andous amount of supply that's been built in manhattan along with the boroughs and rent growth has not en great this cycle in part because of the glut of high-end apartments. and the same isrue in the d.c. area around crystality.

reits that could benefit there alvin bay and cden property trust. aflt based in houston, the overall d.c. expure is close to 20% and northern virginia is 6% alone. h> instead of getting for example rent gro of let's say for the sake of argument 1% or you know 0.5%. the rent growth could be in the 2 to 3% for reits owning assets in that market that significant. >> but most important for apartment reits in crystal city and long island cy is how many of the new amazon employees will ite from within the market picks and how many will move in and take up new space? for nightly business report,a olick in crystal city. revlon sharps phototyeady the beroducts maker report add narrower less are loss than expected and outlined a restructuring plan. preponderate the goat is improvl profity appear productivity and cash flow.

shares soared by 31% t 28.61 tp. tribune media got a lift from higher ad spending especiallyti pol spending. the company topped earnings estimates appear saw revenue rise double digits from a year ago. that rose a fraction to 39.25. ew scripps reported better than expected earningsnd revenue in the recent quarter with the media company helped in part b the networks that it purchased last year. scripps expects revenue from local media to risey at least 30% in the current quarter. but investors apparently wanted mo that stock fell 5% to $16.85. and sandwich chain pot belly reported ear sngs ines that missed expectation. the company also issued disappointing earnings guidance for the year. the ceo says ion willnue to make investments to try and increase brand awareness. the stock was down 6% today to $10.86. this we can's market monit

has three energy picks that hes ys offer something different. value, fwroegt. and a bargain. it'sis first tim joining us as market monitor. he is rob fummel. good tosz you again, rob welcome back. we thank you. >> the three -e getting them to them in just a moment. any don't have anything to do with oil. you're playing it differently in the energy sector aren't you? >> yeah, bill we do see opportunities here at tortoise of investing in the energy sector that the aren't sociabilitywood the oil prices believe it or not. you go with shen ear with liquified natural gas. why do you lik>>that. ere is how we look petition energy sector in the u.s. over the next decade we see increasing production of u.s. produced oil, natural gas and natural gas liquids every year. year after year. andonrowingmption of the same commodities this is the game changer. g we sss exports of liquified natural gas and crude oil going forward.

at's where shen ear comes into play. it's the purest way to play the growing demand forraiquified na gas exports. global liquefied farl gas demand is going to increase actually double in the next couple of decades. thect.s. islly going to be the second or third largest supplier ofur liquified n gas to the rest of the world. shen eerp is the only way to play that right now ande think it's an excellent way for investors to get exposure. >> if you expect increase in production you move it from placeto so you're going with one of the pipeline companies, enterprise products partners, right. >> yes. utwhat we like a enterprise it's a diversified company that operates essential energy infrastructure assets across the entire u.s. basically. so if productn is goi to grow as you mentioned year after ear, you need to move that oil and gas. you need to transport process. that's what enterprise does. they have a stable business model that allows them to payin stors a 6.4% effectively dividend oneld. we have the stock over a

decade. enterprise has grown that dividend everywhere we owned the stock. as the u.s. energy infrastructureesetwork conti to expand, enterprise will really play a critical role is a stock that investors want to mold as well. >> finally, and quickly if can, this is the bargain, this is a company that's involved in natural gas. eqt corporation but the suffolk is down 44% this year. i guess you expect them to come back. are you expecting natural gas prices to come back? >> so starts with natural gas prices if youotice natural gas prices have been on fire this week. they have gone up significantly. we have entered the winter heating season with natural gas inventories at the lowest level since 2005. the background for are pretty good for pricing. but eqt is more about icg. they are the largest natural gas producer in the u.s. and number two they own some of the best assets in the coveted reasoning. they have had some operational hiccups thaeps why the stock is wn. the management made changes.

we think that that due to thege mant changes the back drop for rising natural gas prices that this stock is really set up for a good turn around story whether it's 2018 or 2019. >> vrg. rob thumble with tortoise thanks for joining us tonight. >> thank you. >> to read more about ropis et head to our website at nbr.com. cong up calling all bidders. >> i'm robert frank. this is tre is a flood of mansions on the market, leading more and more to head to auction. we take you inside the most expensive home ever to sell at auction. coming up on nightly business report. >

here is what we're watching for next week on monday. lawmakers return to washingn with full agenda which includes funding the government and that potential fight over the border wall. on tuesday opec monthly report will be in focus, given the decline in oil prices. component krisow could reports earnings and investors expect growth. that's where we wch in part coming up next week opinion. the fdans po sharptly restrict sales of af ecigarettes but pulling them from gags stationance convenience stores. the actions could come next week and aimed to limit access to e-cirettes among children and teens. data shows that usemong high schooler has risen by 70%. christie as plans to auction a t pink diamond tould fetch $50 million. the 19 carat gemts is the

largest that the auction house ever sold. it once belong to the oppenheimer diamond family and christie says it will be the stando offering in geneva on tuesday. for a pink diamond? an auction how about an auction for a multimillion dollar mansion. robert frank went to hilsborough, florida, to give us a tour. >> four years ago this was theen most eve home for sale in the united states. listed at $139 million. next week it heads t auction for no reserve marking a dramatic turn for one of the most opulent estates in the country. it's a storiance increasingly common in the struggling high end market for real estate. america has a mansion glut. there are too many giant homes with too many big prices up for sale. after thesinancial cri build erps went big, targeting the rich with frp larger and more expensive homes. but now overseas buyers are

fading stock markets are volatile and prices ran up way toot. fas buyers sit on the the most expensive homes in the top 40 market in the u.s. took a year and a half to sell 2 in7. sellers are turning to auctions. usually sociabilitywood distressed real estate. real estate auction companies say businesses is up 20 to 550% drive. mainly by hi end homes. >> when sellers call us they were motivated. they wan the property to sell. that's why they call the auction saleny to create the within and accelerated time frame. but they also want the best they are smart people owning valuable properties bus they earned the ability to own them. and they don't want to giv them away. >> but the pris drops can be dramatic this how do you spell? allas was listed under shh 50 million and sold for $36 at auction. a home outside of los angeles whichame are became famous for

its massive underground complex of spas, pools and tennis courts was listed for $53 million and just sold at auction for $23 million. famed investor peter liverpool is putting his golf home in scottsdale,arizon up for auction after it lange wished on e market for two years at $14 million. auctions don't always work. michael jordan tried to auction off his chica mansion fl 2012 with no takers. plus the o ownersf this house have high hopes it will the most expensive home ever tt sell a auction. no one has ever lived here. it was built on speck in 2014 and came on the market for $139 million then put become on at $159 before being pulled off t market in 2016. it is 58,000 square feet with ref bedrooms, 22 bathrooms, a private max theater we shall

20-car garage, 500 feet of frontage with a private yacht dock on the inrcoastal. it takes about 150,000 gallons of water just for the pool. bidding starts online on november 12th. but you need a check of $250,000 just to qualify to bid. for nightly business report, i'm robert frank. before with he go, a quick look at wall street. wn day. the dow back below 26,000. that's nbr for friday. thanks for joining us. sue's back on monday. hope you are too. have a good weekend.

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