♪ this is "nightly business report" with sue herera and bill griffeth. ♪ pushing higher, the dow hits a six-month high. six-day win posts a streak as investors look for signs of progress in u.s.-china trade >> paying you back. why there's a chance that s&p 500 dividends could set a record this year. >> tackling personal finance. a pro football player is changing the game of money off the field. hose stories and much more tonight on "nightly business report" for thursday, april 4th. >> geepg, everyonevening, every welcome. the dow closed higher this year and the s&p 500 had its longeea win s since early 2018 and all of this as president trump and the chinese vice premier met

in the oval office to discuss some of the key sticking points on trade between the world's two larges economies and some of the trade optimism spilled over on to wall street and the dow anes industrialrage rose 166 points to 26,384. th nasdaq fell three. the s&p 500 was up about six. eamon javers is at the white house for us tonight with more on today's meeting. so eamon, what was said and what was th, >> ye sue. that's right. i was in the oval office with the premier for the one portion of the meeting in the a oval the president said that progress is being made. he likes where things stand with this trade negotiation, but he also said that it could be four more weeks before we know whether there is a deal or not to be had here and just as interesting as what he said herw wast he didn't say. the president did not announce as many expected he might, a date for a summit with xi jinping in which they wouldfi lize this deal. so that is still off in the

distance at some point and not clctr when e that would happen. i asked the president what the sticking points are here on the negotiations and he mentioned two. he said tariffs are a sticking point and also t issue of intellectual property is sti a a sticking poi those are tha core things they're about and that's the core at this dispute and the president saying those are still the sti ing points. i think that gives you a sense of it could be a long four weeks here before it could be resolutions. >> eamon, thank you s much. eamon javers at the whit for us in washington. while trade is not the only thing investors are focused on nowt the job market is critical and today we learned that the number of americans filing for benefi last week hit their lowest level sinc 1969. yes, 50 years. jobless claims dropped b 10,000 to 2002,000 further underscoring the robust happens.

>> there's conflicting data. according to the report from challenger, gray & christmas,s layo surged 35% in the first quarter and that would indicatet that t job marot off to a shaky start in 2019 and the report says companies may be streamlining his operations and that's where the job reductions are coming from, but tomorrow might clear things uphe a bit the government releases its monthly employment report. onomists are looking for an increase of 175 non-farm payro jobs. the unemployment rate is expected to be sady at 3.8%. >> the ceo of j.p. morgan chase had a loto say about the economy in his annual letter to shareholders. jamie dimon addressed a broad range of topics including income inequality and in his letter he wrote 40%ca of ame workers earned less than $15 an hour and abou 5% of full-time american workers earned thee minimum w or less which is certainly not a living wage. to address the problem, mr.

dimon suggested that lawmakers and business leaders set aside partisan politics a put the needs of society ahead of personal parochial and partisan interests. >> in rec years there's been a big push to raise the minimum wage. day targetaid it plans to increase pay for workers to $13 an hour from $12 starting in june. hit would be the thirde of the company in less than two years with the goal of reachingu $15 an by the end of 2020. the ceo says the wage increase and the investment in employees is the rean why the retailer was able to hire more than 120,000 seasonal workers in a very tight labor market.t >> so wind of an impact does a minimumas wage inc on the economy right now? the head of global economics research at bank of america merrill lynch. ethan, welcome back again. >> thank you. >> you ow, it's really

econtent 1 wh 101 when you raise wages.at hat point do we start to see that creep into inflation nu ers, do you think? >> i think we've got a ways to go. seeing now t we're is more in the nature of catching up. wages have not gonep very fast in this recovery. it took a long time to get thet job marack to normal. right now there's a little catching up going on for joe six pack. i do thinkthe next two or maybe three years we'll see a more significantspillover into price inflation, but right now i think we should enjoy the improvement. >> now it also, does it not allow employers even in a tight labor market to be more w discerning abot type of worker they want if they're going to raise pay. they're going to have a lot of l ant, but they can be a little pickier. >> yeah. the firm, there is a real benefit here. not only do y get to pick better workers, but you retain

them longer and you havemo much of an incentive to invest in them as workers. so whilere wages going up the costs of hiring and firing and thect proity of the worker is improving. so it's not a one for one cost increase for companies. there's actua a silver lining here. >> but now we're talking about the unskilled workers. for skilled workers, we still hear from many aompanies about and age of skilled workers that's something that, you know, raising wages isn't going to help, is it? >> no. i mean, we have a problem as a country is that we haven't invested in a lot of the skills that we need today. for example, the manufacturing sector has aab shortage in it, even though everyone talks about us losing manufacturing job to foreign competitors because we're not training workersdo mod earn manufacturing jobs and turning screws and putting bolts on. it'sed complic computer stuff.

were is a significant shortage of skilledkers and companies are struggling to fill those jobs. >> once again, tomorrow's jobs report should be very telling. ethan harris with bank of america merrill lynch, thanks for joining us tonight. >> thank you. >> in washington, democrats h pe longhed to raise the minimum wage, but now they're talking about a new idea. a minimumetirement. elon muey explains. >> there's growing concern in shington thativing through your golden years will take a lot of gree yet man workers aren't saving on their own for retirement. 35% don't even have access to a saving through their employer according to pugh. democratic senators chris cue and amy klobuchar want to step upthe plate. they require businesses to pay 50 cents t have the retirement savings for every hour that you work. over a year that would addp to about $1,000.

>> this would provide flexibility, portability and sustainabilityla for a wor retirement savings account for tens of millions of americanswes as an easy to administer vehicle forng emergency sa >> that sounds great for employees, but it could be really expensive forusesses especially small businesses that would be forced to offer a new benefit. so the program provides a tax credit to offset the cost for up to 30 workers. large corporations that already offe 401(k) plans or pensions will likely already be in compliance with the new rules. >> the job should provide a wage and it should providear healt and it should provide vacation time and it should provide a retirement. >> this idea comes with a catch. the cost of those business tax credits can ate up. the esti price tag, up to $250 billion to the federal government over a decade. to pay forit the senators are proposing raising the corporate tax rate from 21 to 23%. they're also talking about

raising the rate on the wealthiest households from 37% to 39.6%. that hink it's important we identify some proposed offset for every new tax credit that's proposed. >> the bill has a backing of centrist and progressive groups as well as labor unions and the aarp. the senator said they wanted to propose an idea that actually has a chance of becoming reality. for "nightly bs report, e i'n muey in washington. >> also in washington, president trump said hs recommending herman cain for a seat on the federal reserve board. cain is theeo former of godfather's pizza. he also served on the board of t directors f kansas city fed and was a former gop presidential candidate. time to take a look now at some of today's upgrades and downgrades. we begin with facebook which was upgraded today from buy to neutral at guggenheim. the analyst sd that consumers are increasingly unfazed by va content and p concerns. the price target now $200 even anddfacebook clo the day at

176.02 and that same analyst downgraded roku. the firm cited new risks from the launch of apple's new video product. the price tget there is $72. roku closed at $64.49,ha and was down 6%. micron technology was downgraded from under weight tohtqual werom morgan stanley. it will not happen any sime soon so the price target is $32, micron finished the day at $42.89 and it was dow 2%. >> still ahead, tesla's ceo heads to court ass invest try to make sense of a disappointing report on car deliveries. ♪ ♪ ♪

the ceo ofoeing apologized for the fate of 737 max crashes and said it was appare that in both flights an anti-stall feature activated in. err in a statement dennis said it was boeing's responsibility to eliminate that risk and he says the company owns it and knows how to ticfix it. >> one of the big stories was tesla's ceo elon musk showed up for a heang regarding his ongoing battle with the sec. woe judge in the hearing gave the sides to settle their differences. meanwhile the automaker's stock was up 8% after reporting sharply lower deliveries f the first quarter. our phil lebeau joins us outside the courthouse in new york city. let's start with what happened outside the courthouse. what are the exist between the two sides and what happens if they are not solved in two week

>> well, bill, this w t about as well as can be expected for elon musk and short of the judge outright dismissing the complaint from the sec and it really comes down to this. th sec believes that elon muski violated agreement in the agreement that they reached last year where he said and the sec agreed with him. all of his financial communications would be pre-approved by tesla. he sent out a tweet earlier this year and the sec said look, that's a materiel matter regarding the production vehicle asks it should have been pre-approved and elon musk and his attorneys said all along it was not incorrect and it was not immaterial and did not mislead people and it was not in violation of the agreement. so what the judge said today, you to, meaning the sec and elon musk, get together and work this out over the next two weeks and if you can't work this out then i'll have to issue a ruling from the benhe and made it really clear. she's in no mood to issue a ruling and she does not believe

that contempt of court decision should be thrown around lightly. so she's hoping that her legal pressure will force the sec and elon musk to work out maybe a modification of the sec agreement they already have. >> also, phil, the stock was under pressure today of tesbe use of disappointing car delivery numbers. what should an investor mak of that? >> we are in a lumpy period, sue, i terms of deliveries. a 're not going to have straight linear growth for tesla rten it comes to deliveries and this q was proof of that. and the question for investors is, do you have the stomach for the roller coaster ride that you get with tesla likelyver the next couple of years when it comes to these deliveries and o you'll hav quarter like the first one where it's not very good and a couple of quarters from now it could be fantastic. so it will be a roller coaster for investors. >> phil lebeau who is in the

middle of the media scrub is live in new york today. thanks, phil, see you later. >> we've been reporting on a ri high-stakes h taking place in massachusetts. the outcome will determiner whetynn can keep its gaming license in that state. >> today, on the last day of testimony some senior executives made very revealing remarks about the company's effort to conceal potential sexual misonduct by founder steve wynn. contessa brewer has the details. wynn resorts is paying more an $2.5 million for encore boston harbor. the casino resort is scheduled to be opened in june and they're considering whether to yk the gaming license. >> we don't have a business unless we have a license. >> board chairman phil satri and ceo matt maddox and a parade of executives testified before the gamingommission during three days of hearings into how the company handled reports of

allegations of serious sexual misconduct against founder and ceo steve nn, charges he denies. >> there were a lot of different erople they think trying to protect steve wynn. >> the investigative report concludes thathe company didn't apply its own policies to steve wynn himself and executives who knew about the settle chs didn't report them to the board and wynnts res does not contest the conclusions. >> i can kick myself from here to china, that iidn't --hat i didn't speak up. >> maddox came under fire for retaing a top executive last year who some employees mistrusted. > you were making excuses for high-level folks that had failed to do their job. and for approving undeover surveillance of a former employee who was a named source for "the wall street journal" article detailing a litany of allegations and maddox's own

suitability in connection with the game license is at stake. >> this company is never going to be about a person again. >> and after steve wynn's departure and adding three new women to an overhaul boa nstituting new policies and training and they were blamed for the systemic failures. >> i am here by my >> we heard from elaine wynn, the company's largest individual shareholder and subject to gaming license call if i kalgzs. she was a board member when was liens was granted in 2013 and never revealed that to regulators. >> at the moment my shares were free and clear to sell have had an opportunity to do so and leave this company, but i chose not to, and am here because i am team wynn. >> commissioners will now deliberate whether to let wynn resorts retain its license. for now it's ati w game.

win, lose or pay a hefty fin for "nightly business repo," contessa brewer, boston. >> constellation gets a boost from br and that's where we begin the market focus with the wine and spirits maker reporting stronger beer sales to help offset weakness in its lower-priced wine business and yesterday weth reporte constellation reached a deal to sell 30 o those lower priced wine brands to ernest and julio gallo winery. it closed at 191.45. office depot is warning about a potential revenue shortfall. the office supplies chain cited weakness in its compucom division. the company says it is taking steps to improve its perfo iance whichludes a streamlining of its operational structure. shares fell to $2.88 and ford reported today that overall sales fel in the first quarter compared to a year ago. a drop in demand for pascanger offset stronger demand for

trucks and suvs. theompany said that the average vehicle cost was $3800 and 1800 from last yher and stock rose better than 9% to 1294. >> trade web is making its wall street debut. he platform for bonds and derivatives twice raised the size of the offering from 20 millio shares to 40 million. tradeweb rose 3% to 35.81. jeff and mackenzie bezos have divorce. their as part of the settlement, jeff bezos will keep 75% of the couple's amazon shares. ockenzie also plans to give jeff a her interests in "the washington post" and blue origin. amazon shares wereown a fraction to $1,118.86. s&p 500 dividends are expected to set anoecord this year. the 2019 dividend payment growth

rate could increase by as much as 8.9%, easily outpacing wage growth and inflation. we a joined tonight by howard silver blatt, dow jones indices and the person behind this data. howard, welcome back. >> thank you. >> how much longer does this go on? is the eighth record year idat we've seen for the dd increases? >> it would be the eighth year and that's a strong increase from last year. 9% increase is what we were projecting and last year was 9.8. bottom line is that investor are getting more money than ever got. companies are increasing their areholder return and increasing it although buybacks are the favite re, and they're doing well as far as dividends go. so if they're f looking income there aren't a lot of places they can go. banks are certainly matching ivose numbers. >> and the data that you put forward. dividends account for a

significant chunk of long-term stock. if that's the case, why not just buy dividend-peaing stocks and leave the rest behind. >> six s,ye seven ago, stips have changed and they were able to buy stocks and able to livef e income and the investment program and their kids worry about the today it's more about trading and shorter time periods and with theapital appreciation and an increase in stock prices. so the are still dividend followers and especially people who need the tcome, but general market looks more towards quicker appreciation of stocks. >> which sectors do we see the best growth in these days? i can't tell you times when i asked the money manager the utility stocks and nonef them say yes and they continue to set records herend that's one area.

where can you find good dividend growth here? utilities and financials. financials are controlled. if you'll buy the big banks and the new york banks and that's controlled by the fed and th annually on that note and another place where you'll get a dividend pay, if you just look pay, and it's technology. they actually paid the most in dividend of anyto s the difficulty here is that you don't usuly buy a technology issue such as apple because of he yield and it's very volatile. again, dividend investors typically look for stability, utilities and financials give them that, if you wanted to go for a longer game and more risk and energy which has them beaten wn and oil is back to over 60. >> indeed. hord silver blatt with s&p dow jones indices. thanks for joining us tonight. >> thank you. >> and coming up, a football pro who is also ass profeor.

his goal, to make people smarter about their money. ♪ ♪ >> when it comes to making plays, nfl linebacker copeland is no stranger to success on the field and it's how he plays it safe with his money off the fiisd that may surpr you. sharon epperson has this great story for us tonight. >> on the field, brandon copeland plays to win. t >> o field he's changing the game. >> the conversation has changed from what do i have now to how can i use what i have now so that i don't have to depend on anyone else to give me ahe

pa for the rest of my life. >> a baltimore native, copeland grew up surrounded by the sport. his grandfather, roy hilton spent 11 yearsn the nfl. for doep copeland, football came naturally, but it was the skills he developed in e classroom that really paved the way. >> my grandfather made i cool for me to be smart, be educated and pushed to get as and bs. >> it was that ethic that landed him at one of e most schools aroundh >> i was fortunate to go to al high schoo called gilman in baltimore and the head coach of my football team, he ran his own hedge fund, but as a young kid i didn't know what he did. i had no idea. i just knew that he was pretty well off and so one summer i went to work for him. >> a summer that would help shape his future love of finance. >> he quickly learned thatey making m and understanding how to take it to make more would be his ticket to financial freedom anol iy he a tuned

at the university of pennsylvania. >> when you're wh your teammates in high school and college and even now, do they talk about money andy do t understand the importance of understanding how to manage their own money? >> the common denominator of most people in this world is we all talk abnet right? that's what we deem as successful and unsuccessful. the biggest money lesson i've learn side basically don't try to keep up with the joneses. ift's not something of value, don't chase it. >> it's that lesson that w copelated to share with others. a basic conversation about money that many are not being taught, even at the highest levels and he reached out to his alma mater. now known at penn as professor cope. >> the o premise this class is to talk about stuff that you actually w il useyour lifetime, right? and my goal is that you don't come to that decision for the first time and you're trying to

learne fly. >> the course focusses on everyday finances like how toou budgetelf on your salary and he -tches the brand with th,doctor. >> personally, i don't plan on using it. if i have to use it i'll bre out a ti-84 or google the answer. we have the camera so see us make a lot of money and then you see us lose it, but if you've been taught how to budget and you've never practiced that and you hone your skills and gain the reps and you give a 21-year-old kid $2 million and say good luck. nodon't lose it. players are talking about money and not just talking about --oi i'm g to get this or i'm going to buyhis. the questions is not what you're going to get, a lesson in others that will help others change their financial game.

for nightly business report, i'm sharon epperson in philadelphia. the dow gained 166 points fd the nasdaql three. s&p 500 was up about six. >> and tomorrow's the big jobs t re >> it sure is. so join us nap does it for us tonight. i'm sue herera. thanks for joining us. >> i'm bill griffeth. have a great evening. e you ♪ ♪

>> this is "bbc world news america." >> funding of this presentatio made possible by the freeman foundation, and judy and peter blum-kovler foundation, pursuing solutions for america's neglected needs. >> wow, that is unbelievable. ♪ >> 'm flying! ♪ >> stay curis. ♪