♪> >> this is "nightly business report" with bill griffeth and sue herera. ♪ >> hiring june was a hot month for job creation, but what is good for main street may be keeping wall street on edge. amazon at 25. the cpany disrupted entire industries and changed our day-to-day lives, but the next quarter century could look very different. show me the money! filing for financial aid can beg daun but one entrepreneur is helping families negotiate and lower the cost of college. those stories and more tonight onep "nightly businessort" for friday, july 5th. and we do bid you a good evening, evybody, and welcome. well, the labor market came roaring back in june following that weak job growth we saw in may. the lepartment reported

this morning that the economy added 224,000 jobs last month, far more than expected. the unemployment rate ticked higher to 3.7%, in part because more people enter the labor force, but that number is still historically low. and while thi latest jobs report is clearly positive news about the economy, itay make it harder for the federal reserve to cut interest rates at its meeting later this month, and that sentiment pulled stocks back from their all-time highs we hit onednesday. do industrials fell 43 points to 26,922. nasdaq was down 8, the s&p slid by 5. ylan mui h more on america's employment picture from washington. >> reporter: america's jobe market is ogain red hot. it even surprised president trump. numbers this t morning. jobs.k it was 224,000 those were really unexpectedly good. and our countryes contio do really well. really, really well.

so we're very happy about it. >> reporter: businesses across almost every sector of the economy added jobs laston. professional services added 51,000 jobs. health care rose by 35,000, and manufacturing was up 17,000 jobs. but that good news may have been erd news for wall street. theal reserve is expected to cut interest rates later this month. investors are worried that a strong job support could stay its hand. >> i think the market will be really upset in terms of . valuatio i think people will be asking why aren't they stting, what going on here, because it doesn't appear that the overall economy is picking up. >> reporte the job market is so strong the president said it is getting harder to recruitwo ers to the military. the unemployment rate for veterans was 3.2% in june, and for the past year it has hovered at the lowest levels in nearly two decades. >> military personnel are unique in that they are taught and

groomed from day one of basic trainiam or boot to essentially be the best of the best, to be masters of their trade regardless of in whatpa ty they serve, what their mos was, what their branch was. >> reporter:undreds of veterans attended this recent job fair in maryland where about 70 organizations were hunting for fresh talent. >> it has been good. i wa a little nervous at first, but i mean you just got to get over that and get some confidence, and just kind of get the balling rolling and just bounce from differenon to different person. >> reporter: fed chairman jay powell will be testifying on pitol hill next week, and investors will be watching closely for any hint that the w central banl be changing course. for "nightly business report" i'm ylam i in washington. we turn now to chris rivera for more analysis on the report. he is at macro economic advisors. welcomni chris. to have you here. >> good to be here. >> we had pretty solid growth

and wages increased at a pretty decent level. what did you think overall of the report? >> yeah, very solid. not really anything in the report not to like. good growthri inte employment. overall job gains were good. government employment w up a lot. unemployment ticked up a bit but that is because so many new folks were led into t labor force, so overall a solid report. not mh to be disappointed in. >> of course, the elephant in the room with this report is the fed and what it wl do about that. if i understand your position correctly, you don't think they need to cu but y think they will anyway. why? >> yeah, absolutely. so we think the economy is still on pretty solid footing. the fed' pivot is a lot about focusing on down side risks and, you know, playing the risk mitigation strategy. but, yes, we think the economy will do fine without a rate cut, however, the markets and fed speakers have certainly sort of pushed everybody to expect a

knte cut. as you , even the possibility of 50 was on the table there for a b. so, yeah, they'll probably go ahead, although it is not a foregone conclusion. and if they for some reason decide not to go ahead, we think the economy would do just fine this year and into next year. >> our economy may be doing fines and t does show some pretty slow, steady, solid growth, but the global economy, there are some hot spots out there and we still do not have a trade deal with china. >> yes, to be sure. two majorose are the areas that everyone is focusing on as potential,ow you traps that the economy can fall into. you know, the thing with e,tr it is really tough. there's a lot of uncertainty. businesses d't know ifhere's a trade war whether their industrial will be subject toco tervailing tariffs, so that certainly casts a pall over decisionmaking for businesses, whetr to invest.

that's a problem. of course, weakness abroad is something that's an issue as well to be watching very carefull >> okay. >> but at this point it is a down side risk, not necessarily needing fed -- >> all right. chris reras. thanks again for joining us tonight. and as ylan just mentioned, fed chair jerome powell will indeed deliver hisem annual economic report to congress next week. the printed version of the report was released today, and in it the central bank said the economy was growing at a solid pace, but it also noted that growth likely weakened in recent months as higher tariffs slowed global trade. once again the fed pledg to act as appropriate to sustain the economic >>expansion. o the other big market issue, that would be trade. china appears to be renewing its demand and there are reports now that the country is questioning some of the promises made by the u.s. eunice yooneports for us tonight from beijing.

>> reporter: a china state media blogays china won't buy american crops if the u.s. flip-flops in the trade talks. the tower on notes blog, which is associated with the economic daily and believes has insight in beijing's strategyosd a commentary today saying, if the negotiations,ps in the promise to buy american agricultural products will be the piece comes after the hong kong nspaper quoted sources saying that china is putting off buying american soybeans to gauge w how thete house eases restrictions on huawei. on thursday beijing's concerns were flagged that the u.s. may not make good on president trump's promise. the ministry said u.s. companies should be allowed to sell to huawei right away. in addition the ministryst ssed the importance of one of beijing's previously stated conditions to a deal thatll posed tariffs should be lifted. the u.s. trade representatives office said the two sides are

working to arrange a phone conversation for the top negotiators as early as next weekith the fate of huawei quickly moving to the top of the agenda for the chinese. for "nightly business report", i'm eunice yoon in beijing. believe it or not, it has been 25 years since amazon launched as an online book seller. today it is tge l e retailer in the u.s. and it made its founder, jeff bezos, the rld's richest man. but the next 25 could take the company in a new direction. deidre bosa has more. >> reporter: 25 years ago today jeff bezos filed paperwork to create what was originally called cadabra inc.. the company has disrupted entire dustries from publish to retail to cloud computing. it has become one of the largest companies in the world. today it is worth close to a market dollars in value, second only to microsoft. the next quarter century though is likely to look ery

different. amazon is making big moves in a number of new industries. groceries with its acquisition of whole foods in 2017, health care with its pill pack purchase, and joint venture with morgan and berkshire hathaway. there'slsodvertising smart homes, even ironically brick and mortar with the growing physical footprint of bookstores, convenience stores and pop-ups.t as amazon sets out on the second quarter century with more ambition than ever, the company is facing more scrutiny and criticism than ever. >> historically, it was talked about competition in the market. the u.s. talked about harm to consumers, butti the j department is starting to talk about, well, you know, it is not juw, your prices are it is do we have a competitive market. i don't think what e happening ope other than a short-term dislocation will have a lot of impact. i think what is going u.s. longer term could be more interesting. >> reporter: more antitrust

ourutiny around the world make it difficult for amazon to grow as quickly as it has over the last f decades. it could even turn the tables and disrupt amazon's own structure as lawmakers like senator elizabeth warren call for a breakup of big tech. >> so my view on this is it is a little like baseball. you can be an umpire, a platform, or you can own teams. that's fine. but you can't be an umpire and own one of the teams that's in the game. so the principle here is bak those apart, and you can work for the platform part, you f ca wo one of the teams, that's a lot of fun. but if you work for one of the teams, you compete like every other team in america. >> reporter: far from its beginnings as an online bookstore, amazon now begins its next chapter as one of thees la and most influential yet controversial companies in the world. "nightly business report", deidre bosa. >> still ahead, school's out for

mmer but where are the young workers. i'm kate rogers in park, new jersey. tonight on "nightly business report" we're talking teen jobs, who is working, who is not and ♪ why. ♪ and more on the jobs market and a new labor problem facing businesses. employers are finding it increasing difficult to hire teens, even during the summer months. s in asbury park, new jersey. ♪. >> hi, what can i get for you

today? >> reporter: she is o kickingff her second summer working here in asbury park, new jersey. the 16-year old is making $10.50 an hour, $0.50 above the state minimum wage, working the register and serving up cold drinks and fri to customers on the boardwalk. >> well, when i'm not in school over t summer, i like to keep myself busy. want to have a job. i want to have a little money. >> reporter: she m enjoy working, but the share of teams working or seeking work in june, july and august has been stagnant in recent years. the labor force participations raor teens in summer last year was 40%. ten years ago it was closer to 50%. in the late 1990s, 60%. at the same time, the number of teens enrolled in summer courses has gone up significantly. in 1985, eejust 10% of took courses in july. last year, that number was up 45%. while preparingor college is important, experts say-so too is having that wirst job.

hear a lot of conversation about being college ready. we don't hear a lot of conversations about being work ready. you can only learn so much in a classr tm about how actually work. in many cases those first jobs are really important at teaching skills that supplement classroob education can't replace it. >> reporter: whether it is summer courses or other extracurricular activities, franchisee mike haynes says he has seen a shift in the availability of teen workers at his four tropical smoothie cafe locations in the atlanta area. >> they're doing things like volunteer work, they're engaged in their churches, whether it is volunteering there. they're looking at their extracurricular activities. they are taking additional summer courses,hereas previously the labor pool for summer, you know, for summer students would have been much higher. tw we fit a little bit differently in mix. >> reporter: in fact, he says in order to remain flexible with en scheduling he is getting creative, hiring more workers. meanwhile, hill'sntoth,ny

bannon, says he shifted his recruiting tactics as well, bringing younger workers into the fold as older teens b less available. >> we found over the last couple 17-year olds5, 16, are not working as much we opened up to 14, 15 years old using programs like working papers and working with schools. we had toan e the age range a little bit. >> reporter: as teen worker availability shifts, so too d recruiting and retention tactics at businesses. for "nightly business report", i'm kate rogers iny asb park, new jersey. >> samsung warns its second quarter profit could be cut in half and that's where we begin tonight's market focus with the world's largest smartphone maker and supplier of memory chips, citing a slump in demandse for s conductors and let's say the problem was exacerbated by the u.s./china trade dispute. samsung doesn't trade in the u. but the warning pressured those that do.ll they were lower in today's

trading session. barret gold and other mining stocks fell on the expected joby report t which many believe lowered the chances of a fed interest rate cut, which raised the price of the dollar which pressured gold and sent gold shares down higher. 38.42.res held to shares of mining company rio tinto and bhp fell on a report out of china. it is reportedly they're concerned a looking into the recent increase in the price of iron ore. tinto's was down and bhop was down. alexion pharmaceutical said marking for drug use to treat a rare bloos disorder has beenth approved. drug has been approved by the fda. ppdespite that the stock d 2% to 130.30. time for our weekly market monitor who this week has the

names of three high-quality large captocks that also pay a dividend. larry james is back with us. he is preside and portfolio manager at james investment managers. thanks for joining us tonight. >> glad to be with you. >> i'm interested in this one. here is a stock that lost roughly half of its value in the last couple of yea with all of the competition from the small craft brewers. why doomou like thisny still? >> well, there's a lots of thi to like about the company. first of all, they're really theap. they're trading price that's less than what the accountants say it is worth, so that's one thing. compared to others in its field, it is much cheaper. heir have been paying back debt, so they're very strong financially right now. and i we do see a slowdown in the economy, that's generally pretty good for beer makers, and they have expanded into a lot of the some of the names, you know, are

the brand d, some of names that they have in their stable. >> right. >> but nonetheless they're taking the challen head on. >> and next is in the finance sector, insurance company travelers. why do you pick thi one? >> well, it doesn't have any effect from china trade, that's one of the things. it is all do i here and is really helped by interest rates dropping. so much of their portfolio is invested in bonds that that is obviously a benefit. they've got a bit of a yield and they've been buying back shares, so there's a lot of positive things there for the company. and in this type of environment, we think it good to have something that's somewhat travelers ike a insurance. and then, finally, verizon. i'm guessing that four-plus percentividend yield is one of the first places a you sta now? >> i hope it isn't the bait that hooked. >> right. >> and an unfortunate event happens after that.

but, again, they're just a cash machine. over $18 billion in free cash flow. they can do just about anything, buy anything that they want a it were. people have stacked up their bill and they say, number one, i'm paying my ellphone. nofood, not credit cards. it is their cellphone. so they're inoo very position as far as that goes, and with some consolidation ins the in that works to their benefit as well. >> very quickly, barry. the overall market, how do you feel about it? >> i think it is pretty risky right now. people are kind of -- they have a trifecta of anticipation, i loweerest rates from the fed, a rebounding economy, and china trade. but the one thing that really worries me, 80%, 80% of the stocks are now controlled by . chin >> right. >> 60% in index funds and 20% in quant funds.

they are b just because they exist, not because the earnings are good. with noseen compani earnings go up more than companies with earnings. >> right. >> again, it doesn't make any sense. that's riskq, soca bful. >> barry james with james investment research. again, thanks for joining us tonighbarry. >> good to be with you. it has been a tough week for electronic arts. the video game maker released "apex legends" a expectations were high but viewership numbers were disaointing, sending the stock lower for the week and is putting renewed attention on its competition. josh lipton has me. >> apex legends launched with a bang in february. the free-to-play game for electronic arts quickly attracted 50 million players. the new season of the game officiallync lhed with a new charter, neweapon and what are called new skins, meaning new costumes for the chacters. ea executives say "apex legends"

is the fastestam growing new the company has ever had and they think net bookis or adjusted net revenue from the game could be as much as $400 million in fiscal 2020. for all of the hype, analysts say the checks indicate that the initial fervo surrounding the game cooled. in pa, it is because t company didn't update the game as quickly as the competition, meaning this ge, "fortnite," another -tfreeplay battle royal game and a giant in the market. "fortnite" has racked up 250 million players and nearly $4 billion in estimated revenue. the game is free to play but earns money when gamers make in-game purases for item like weapons and costumes. so the question now is whether ea can parked ren interest in "apex legends" with the new eeason and give the stock, already up s 30% this year, a lift. some analysts are hopeful, bo they als point out there doesn't have to beust one

winner with this style of game, dis "apex legends" and "fortnite" can and appeal to different demographics. sohich publicly traded game publishers can capitalize on this trend analysts say ea is wellpo tioned but they believe activision could make a strong move in the marketo, perhaps offering "call to duty" game as a free-to-ay title as well. for "nightly business report" i'm josh lipton, san francisco. and coming up, looking to cut the cost of college? meet one entrepreneur who wants to make sure no money is left on the table. ♪ oa

student debt now stands at $1.6 trillion and counting. as we have been reporting, it affects career choices, home buyingpe prs, even marriage rates. yet an estimated40 billion in nancial aid resources goes untapped every year, and that's why a 20-something new york cite entrur got the bright idea to find a better way to match students with those aid programs, and it is for free for users. for most, the free application for student financial aid or fapfsa is complicated. even with an mba it is difficult. >> it was quite daun bng. it was a challenging. it took a couple of days. >> more than a third of eligible students don't bother completing the 100-plus questions that they are asked. they're msing out, not only on federal grants, loans and work

study jobs but also aid from states and individual schools. lder's daughter delaney, an incomingreshmant the university of pennsylvania, saw her friends struggle with it too. >> a lot of my friends really didn't know what they were doing. it was somethingfuo pa my mom still complains about it. >> that's why charlie javice and her friend builtit a called frank. >> if there could be a technology solution where you did not need to be financially literal to actually file this form, that would be a succesor >> they wked in person with bronx students back in 2016, learning enough to launch the site in the spring of 2017. in just one month, 10,000 students flocked to frank and filed fafsas. a little more than two years later, a half a million frank users have secured mor than $7 billion in aid.e the sit helps them prevent a lot of common mistakes which can drive up their debt. >> list whatever i minimum in your account. if not, you are doing yourself a

sservice. >> despite the early traction, frank's path to revenue wasn't l immediately r, but as tech o companiesen learn the answers lie in the data. >> schools are having a really challenging time when it ces to enrollment today, so we started building a feet jury that would recmend a good match for them to send their fafs . >> manyho need aid apply to only one or two schools, but frank helps them cast a wider net. little did we know a few months later it could also be valuable to schools, where they said, "wait a second, can we play." >> now, about 2,000 schools are paying franko help them find students who fit both their academic commuties and their financial aidel guides. frank won't say how much they pay for access, only that it can make u a significant amount of marketing budgets, running well iginto sixes per month. but frank's core is the free fafsa service. >> i was like, oh, my god, this is extremely compcated, i

n't know what to do. >> frank can help students like emlee blanko from the bronx navigate detailsg like figur out adjusted net income versus straight salary. blko turned to frank before her junior year in college, completing the application in minutes. >> it tells you, take line 58 subtract ncome tax, line 57 from it, and then that's what you're putting here. the financial aid website does not do that. >> they match you with a school. >> david holder wants that kind of help, noty o for his daughter but also younger iother jeremiah, who is likely headed to college three years. >> a one-stop shop place. if there is one, it would be extremely helpful. >> a that's, quite frankly, is what charlie javice isoping to accomplish. by the way, frank offers f non-fafsancial advisors for

less than $20 per month. way,nnual deadline, by the to complete a fafsa just passed on june 30th, but it does open again for the 2020 school year on october 1st. and before we go, here is another look at the final day's numbers on wall street. the dow, 43 points to the negative side. qe nas was down 8 and the s&p 500 slid just a little more than 5. but all of the major indexes were higher for theek and that does it for "nightly business report" tonight. i'manue herera. for joining us. >> i'm bill griffeth. by the way, we apologize for the technical issue with our guestr earlut it happens sometimes in televi. on. >> it do >> have a great weekend. see you monday. ♪ ♪

woman: this is "bbc world news america." is made possible by... the freeman foundation; by judy and peter blum-kovler foundation, pursuing solutions for america's neglected needs; and by contributions to this pbs station from viewers like you. you. laura: this is "bbc world news america." reporting from washington, i am laura trevelyan.