>> announcer: this is "nightly business report" with bill griffeth and sue herera. bounceback. stocks rise on optimism over trade. but in beijing there is some doubt, especially among global business leaders. game changers, the new farm bill has a surprising provision and it could be a boon to the cannabis business. buy.ry before you it's a rental apartment that's also a marketplace for a rican made goods. those stories and much more on "nightly business report" for th.nesday, december 12 and we do bid you good evening, everybody and well. stocks rebounded today on -- yod gues it, optimism over trade talks between the united states and china. the move higher extended the recent bout of volatility thatk the m has been defined by lately. the dow up 458 pntst the

peak today. but around midday the major indexes all came off highs around the same time that president trump's former attorney michael cohen was sentenced to three years inpr on for his role in hush money payments made during the 2016 presidential campaign. by the close, though, some pretty solid gains in place. the dow rose by 157 points to 24527. the nasdaq up 66. and the s&p added 14. bob pisani has more on today's bounceback. stocks were in rally mode most of the day. the dowurging more than 400 points on at one upon a spate of global market and trade related headlines though closing well off the highs. the markets got a liftro open on news of the cfo of huawei had been granted bail. andmp president taid he was willing to intervene on huawei's behalf if it help with a trade deal.

then the "wall street journal" reported that the china was drafting replacement for the current made in 2025 plan. that plan had been a framework for increasing china's dominance in the manufacturing business. meantime european stocks surged ahead of a major confidence vote tonight over british prime minister theresa may's leadership. may had been the driving force bounding a nor brexit deal, the uk plan to exit the european union. she surved the vote. finally italy's prime minister set to meet with the european union this weekhere he says he will pose a reasonable budget deal.lo of headlines today. a sim foinny of positive news will the move last? and while stocks rose on reports of a warming of trade relations between the u.s. and icism remainske on both sides, especially witn the business community. eunice yun is in beijing

tonight. >>ter: president trump weighed in on the huawei cfon situation way that has beenme unnerving arican business people here. an interview with reuters president trump said he waso willing intervene in meng wang z's suation ift helped national security or thought it was necessary to close a broader trade deal. his comments appeared to suggest that the u.s.'s detention of meng w a political decision. something that many chinese had suspected but that his administration had previouslyed de this came after canada confirmed a former the dplimt michael koefrpg was detained by chinese thorities. th foreign ministry says the cganization the koefrpg works for internationsis group is not registered in china according to ngo law.e ministry added that chinese law is clear about the visa's people must apply for to work if china. but koefrpg's detention is seen aspo a rese to monk's situation. she is released on bail but

closely monitored. today she posted on the we chat i'm inancouver and with miep family. thank you to everyone who cared about me. the foreign ministry described her detention as a mistake from the start and demanded for her release immediately. some executives in the international bussaess community that this is just a reminder of how vulnerable they are here. for nightly business, eunice yun in beijing. first china made its major purchase much u.s. soybeans since president trump and president xiet at the g20 in argentina two weeks ago. reuters reports that chinese state-owned companies bought at least 1 million worth of crop. as you may know china is the largest buyer of u.s. soy. last year it dprt comported about 60% of all u.s. overseas ipments valued at $1iobi and extraordinary three days in london that questioned the

dynamic future of the united kingdom and had global investors on edge. late today british prime minister theresa may survived a threat to her leadership. party vote left her in power. but questions remain around her plan to exit the european union. wilfred frost is in london tonight. wilf what's the time line what happens next as it pertainso brexit. >> reporter: well more uncertainty as it pertains to t brexit i answer, sue. one of the big questions we had coming into the vote of confidence for the prime minister was that if she won what would those that had tried and failed to oust her do next? would they call in line and go ong with the brexit plan or continue to try to oppose it? it's clearve from comments we had in the last hour that it's the latter they wish to do continue to oppose her plan for brexit. and when you consider the mess overall it looks difficult for theresa may's brexit plan. tonight she got 200 votes from

her 317 mps in her party. but there are 6 seats inotal in parliament. so she seems a long way fromg gett her sort of middle ground plan for brexit through parliament. the british pound rose today because she won the leadership vote. >> right. >> but itown weeko date, month to date and year to date because of brexit uncertainty. >> and investors are watching closely companies involved in this are watching closely. the odds ohe e a soft brexit which is what theresa may is you pushing which still has economic ties to the european union or a no-deal brexit with no ties at all, what would happen t businesses in the -- that are in the uk, u.s. businesses in theu f we get a no deal brexit, do you think? >> yes, bill, that is certainly the worst-case scenario for

equity markets and economies tied to the united kingdom. brexit with no plan for how we transition. i think u.s.ompanies with the biggest exposure tend to be those large investment banks like bank of america, goldman sachs, morgan stanley. they say they are more prepared for the eventuality than a year or two ago. but the uncertainty would cause the european economies couldig on u.s. and global growth next year if that happened. >>rendeed. wi frost. thank you so much for joining us fromis london evening. otherwise overseas events like brexit and trade could affect the global economy which is why investors are watching developments closely. in fact the chairman of the council of economic advisers said there are signs the global economy is slowing. >> the european economy is clearly slowing. i think the european economy is slowin because kbal sfending is on hold as people wait for brexit. financial lot of

distress in italy. and of course europe exports to china which is suffering a severe slowdown. lthe glo economic outlook is lower than we had last year but for the u.s. we're humming along. >> mr. houser went on to say h believes the u.s. economy will grow by 3% or more he credited increase in business investment and the white house traed strategy. >> inflation remains muted tanks to decline in energy prices. the latest report on consumer prices was flat even as unemployment sits near a. 50-year low which i tory puts upward pressure on prices. for the year the inflation index is up more than 2% tp. that's baier with the federal reserve wants it. the central banks meets on interest rate policy next week. >> in washington the mouse easily passed the $860 billion farm bill follong the snt approval last night. the legislation goes on to the president for his signature. e bill expanded farm subsidies

and funded national food stampm proghich we knew about. but a little known provision also handed a big win to part of the cannabis industry by legalizing hemp production. adidi roy is in san francisco for us tonight. >> pally nicol coved the naturals in 2010. making beauty and wellness products, including topical and beauty products candy cbd. products are marketed to treat pain and anxiety. >> curre tly have collections a relief ands tranquillity collection. >> krbld is from hemp a close cuss cousin of marijuana but unlike weed it can't make y high. krbld is frlly illegal according to the drug enforcementagency. the 2014 farm bill legalized hemp farming for research andt whileidn't legalize it across the board, the relaxing of laws around the

sparked cbd based companies to sprout. the current farm bill would close the loop holes, paving the way for cbd-based products ton land store shelves near you. if hemp is legalized one research group estimates the market could reach $22 billion by 2022. sources say mass retailers looking into carrying the produc once legalized include wal-mart, target, costco and kroger. as well as pharmacie like cvs and wahl greens and department stories i likeorder sfroms saka blooming dales and macies. >> those are the categories that th consumer package goods industry defines. and i think well knowhe names for each of them. you can assume thate're in the process of talking to all of them if not right now shortly. >> executives at some of the biggest cbd companies inclung cv o b sciences and charlotte's

web or cw hemp say they are talking to big retailers in nticipation of hemp legalization. they add the farm bill could be a game changing moment for the industry and national taers. >> we believe that this will be the catalyst or maybe the tipping point forta cly one or two to enter the space. and i believe that once one or two enter the space you will see at snte pll enter the space. and participate in what is going to be a very, very big product category. >> farmers could also benefit. senatemi marh mcconnell spear headed hemp legal station he said in the home state of kentucky farmers gre in excess of 2,300 acr of mefrp in 2017. this year the number of acres more than doubled. fort" "nightly business rep adidi roy, san francisco. it's time to look at today's upgrades and downgrades. morgan stanley and bank of america downgraded to market

perform from outperform .analyst citing lack of catalyst to push high are the price target on morgan stanley is 45. $29 for bank america. morgan stanley rose a fraction to 40 peart 81. bank o america fell to 24.52. versusen downgraded to equal weight from overbating weight at morgan stanley. analyst says any goods news priced in. the price target is $58. stock fell more th 2.5% to $57.25. morgan a stanlo downgraded ebay to equal weight from overweight. the analyst cited conrns over the ee commerce website u.s. business. price target $33. stocks below that slightly down to $29.04.il and will youyou lemon was upgraded to buy from neutral at citi. the analyst cing improving fundamentals and the company's growth prospect. that price target now $152. shares rose 5% to 122.65.

still ahead, is the rocky stock market holding back spending this holiday season? "the new york times" is reporting that chinese hackers were behind the massive cyber attack on marriott. the hackers are o suspected working on behalf of a chinese intelligence gathering ateffort. infon including emails, names and passport numbers were stolen as part of a slow moving attack that is believe to have lasted four years. h we have reported, the bre affected 500 million marriott guests. well it's certainly not secret t cyber thieves are becoming more some now using cryptocurrency mining software, often

associatewood bitcoin. but instead of creating alternative currencies, the software may be concealing an attack on corporate networks. andreaay has our special report. >> we see this in real time what someone could be stealing with in miner. >> he shows us a new attack that could leave sensitive files wide open. but so stealth even security pros might not notice. >> they are going to assume likely it's a miner and nothing else. >> troy kent is a threat researcher for awake security we tracked him downa at suber security conference where he dynamoed the attack he created and said it took a few hours to pull off. >> if i can do it t absolutely an attacker could do . whether they are sophisticated or not sophisticated at all. >> here is h i works. kent stays attacker install softwaren the network usually by tricking someone inside the link.y to click on a it's called fibering. and once the software is in y ace. >> then come in and steal

files, steal intellectual teoperty. they can credentials analog in as maybe the ceo or softwar download more bring down services. >> you might think security would just sound the alarm take down the software and stop the attack. but here is the scareyart. according to kent, in attack uses cryptomining software. which most security apps are used to seeing on the network and might ignore. so could security at a business totally miss i attack? >> depending on the time of detection they are using it's possible they would miss it or deprioritize or dismiss it as only a minor. >> he says most business networks have looked of alerts. there are too many armts to respond to so armts like these for cryptomining would be deprioritized compared compared to others. >> that's why he wanted to show how it works. his advice use the advanced

detection systems not the basic systems that a lot of companies rely on rightfo now. "nightly business report" i'm andrea day. >> tencent mus shares open on a high note. that's where we begin the market focus. the music arm of the company tencent raised $1.0 billio after providesing at $13 each. the highly anticipated initial public offering is one of the largest u.s. ipos by a chinese company since alibaba. the shares 7.5% to $14 even. under armour sayed it plao cut the financial targets including in the u.s. where the company has been struggling to regain lost momentum opinion. the sports apparel retailer narrowed the outlook and plans to smift production away from china ahmed the ongoing trade tensions. shares fell 10%. lowes plans to buy back $10 billion worth of stock. the new buyback plan adds to the

existing 4.5 billion-dollar place. already in the home improvement retailer 2018 earnings he and sales guidance during today's investor day. shares rose about 3% on the new to 92.11 today. and in a new filing pg&e revealed one of the power lines efs damagede the beginning of the massive campfire that happened in northern california last month. investigators have yet to determe were pg&e quipped caused the deadliest blaze in the state's history. the stock rose 1% today to 26.39. amazon executive and a new york city official were questionedoday by cit councilmembers over the billion of dollars in incentives that art of theeived as decision to bring the second headquarters to queens newil yo. some small businesses in the area welcome the retailinhe moth oerps are concerned. kate rogers reports from long

island city, new york. >> ronnieis opened h restaurant the indian canteen in long island city queens some three months ago. shortly after amazon announced it was splitting its second headquarters between two cities. long island city, new crystal city, virginia. with a recently signed ten year lees hopeful tomorrow lure in new customer of the amazon employee base walking distance. >> we find it intimidating that there is the big box retailer giant to come in. the way to look is not through fear but as a sense ofland building a tliefgt community. >> the queens economic development kwormg women's azmodan with open arms. but acknowledges challenges for housing and transportation. >> i think we have to be very careful with amazon.

because question could structure issues, husbanding issues. >> this water front is a proposed location for hq 2 but not eveone is thrilled that amaze isn't coming toow t the new york city council hilled meetingsed today on amazon while lawmakers and residents ralli against the choice. some local entrepreneurs are frustrated top lexi beach opened her astoria book shop five years ago and signed another five-year lease tw proposed amazon site. concerned about rents going up in the city for both businesdes and res. and says the community here is supportive ofes small bus an environment that she says seems unsustainable with theco oration moving in. >> to have it be so close feels like a kick in the teeth. from a state and city that the purport to support small business. >> in a statement amazon told cnbc it's looki forward to working with local businesses and in addition to creating tens of thousands of jobs both

directly and indirectly the company plans to donate space for a school, a-u sta hub and more. for "nightly business report," kate rogers in long island city. >> and amazon certainly like many retailers hopes for a merry holihopping season but after a strong start there are signs of a possible economic slowdown. wasn'ting consumer confidence. a slide in t m stockket with roughly a week and a half left to shop, hint behind, how are retailers faring? joining with us a channel check retails oshay, lead analyst at moodies. >> hi, bill. >> you were with us around brck friday cyber monday. a lot. s optimism but lot has change since then economically and psychologically. even the fed saying retail wasn'ts. >> how is the consumer >> doing fine. if you are retailer this holiday if you can't sell productma you rethink what you want to do in the future. everything is set up well for the retailers.

ah there are some soft signs the last several days. this is al think that perfect setup for retail. we have good weather. in the northeast. coats should be flying off the shelves, boots, that sort of thing. and the consumer feels good. what we focus more on is the mid-level consumer and then maybe down a little bit. because knows are the consufors which and for whom -- christmas is really important. >> yes. >> and they always find a way to pull it off. even during the recession. we had a good holiday season you know cpared to what we thought we were getting. >> the only thing i noticedav because i been -- you'd be shocked, shopping early whichne r get a chance to do. but i've been doing it it. and there is a l of discounting. what toll does that take on the bfl? some are discounting dramatically. i don't know whether it's desperation or not but even macies and kohl stacie a lot of that going . >> that's where the rubber meets

the road. anyby can sell you a product. i'll sell you a dollar for 99 cents all day long you'll buy the que is can you make ioit. money? there are a lot of retailers try to grow theop line dominates that her they are viable and the concept resonate. we don't knowoshe that's why at our show we are income focused we ar late to making calls on the how well the holiday went. we yave to see how muc put in the bank. >> who are the winners? the same you were tking about last time. >> it's hard to marred to see how wal-mart, amazon, target, best buy, even department stores, h kohl's they don't do well. at the other end of the spectrum we have the distress list. and down there is j crew. and anemiaen. sears is not there. it's hard to s how they compel. it's a bar bell and the rebig

buys get better. >> we aapologize for interrupting t mall channel chat. >> thanks, bill. >> charlie oshay with moodies. thank you. made in america showrooms you live in. >> have you ever said? a hel or long-term rental that it decor orurniture you wanted to buy for your home? one short-term housing company is making that possible for customers. while also helping local small businesses. diana olick is in bos tonight. >> reporter: from the outside is looks like a regular rental apartment building overlooking

the boston skyline. but inside. >> so everything we see here is pieced together made in america. >> it's a marketplace of american-made products. >> this is one of the only vacuums made in america. >> south carolina, to be exact. go sui ssy brand where tenants can rent for a night or a year is the brain child of patrick flynn. he started northeast suites in 2012 but as the competition for temporary housing heatedp he needed an edge. >> our go local suites people ve the opportunity to dynamo, review appear purchase items stay. the course of th we have more of a captive audience. >> each item comes with a scanner code if you like it buy it. a coffee make frere pennsyrania. toasrom milwaukee. silver ware made in new york. months whe past few have proven the concept to sell a little over 0,0 in sales. ranging from $5 items up to $100

items. >> flynndmits he capitalizes on the trump administration focus on american made. but wha branding experts say most americans feel good about american made products they warn businesses must focus upon the products not the politics. >> we always advise them to stay out of the political arena and not to pay attention to what the political climate might be and what thens discuss might be. focus solely on who your customer base is. and your target audience. >> and so far flynn is doing that. hehe is even lau a go local magazine, highlighting american frods that may not be in each unit. because the unitsiffer it o by price. >> luxury american made and base he can americanma de. >> that's right we cover all the differt price points. >> because that's just basic business no matter where you for nightly business, diana olick in aboston. to read more about how rental suites double as showroomsead to the website.

nbr.com. before we go a file number look at th day on wall street. the dow had been up 450 points closed up 150 points today. the nasdaq climbed by 66. the s&p 500 added 14. by the way we get costco earnings tomorrow. that should be ins uuctive givi an update on shopping. >> right before the christmas holiday. that doess it for tonight. i'm sue herera. have a great evening. >> i'm bill griffeth. have a great shop well. see you tomorrow.

>> this is "bbc world news america." funding of this presentation is made possible by the freeman foundation, and kovler foundation, pursuing solutions for america'sne neglectes. >> wow, that is unbelievable. ♪ >>'m flying! ♪