♪ >>s nnouncer: thiis "nightly business report" with sue herera and g billffeth. strong summer. home buyers are getting off the sidelines. sale are up for a second straight month injecting new life into a slumping market. closing the gap. start-ups led by women tend to get less funding than male counterparts. but therends an effort way to change that. top marks. electric vehicles were puto the test. and a handful scored high. leading some to wonder if they're safer than gas powered cars. those stories and much more tonight on "nightly business report" for thursday, september 19th. good evening, everyone. and welcome. we begin tonight with housing. a home is often the greatest source o wealth and savings for

many fl families one reasons why itched closely by wall street and main street. and today we learned home sales rose to the highest level in more than a year. it was a surprisiven that expectations were for a decline and welcome news for a housing market that has been luke warm at best. slump hopes that if t may be about to end. us f.olick starts after an unremarkable spring, the s smer housing market saw unexpected strength.p sales of existingom jumped to the highest level in a year in august and were higher annually t second month in a row. lower mortgage rates were were a big ftor. the average rate start r the ov j4% but fell throughe and july when the sales were wsign. >> we anticipated that home buyers would beeaching the market backupup process but the magical powerh m low mortgage rates clearly eiced buyers. >>st the big problem in the market is lack of supply,

falling more than 2% annually ii august. home build he is s didrt more houses in august compared with a carrier ago. and building permits we rong, indicating future construction. unfortunately, builders are still not focused on the entry level. and the price gains for existing homesre heating up again. >> right now, the prices are rising. strongly because of lack of inventory and at some point even the low rates will not help because people will be priced out. >> mortgage rates also turned higher at the start of the month making t pricey homes even priceyer. "nightly buness report" diana olick in washington. >> of course all real estate is local. and today's report on home sales showed that some regions are stronger than others. n ththeast for example saw the biggest increase ine sales n august while the west saw decline. joining us now, two realtorsthn front lines in those two areas. from the northeast it's buddy st, president of emery hill

residential in wilmington, delaware and west, courtney hall with keller williams in burbank, california. welcome to both of you thanks for joining us nknight. >> tyou. >> thank you. >> courtney as it happensue andrew up in the area where you work n and i'm wellware it can be a very hot market and sometimes cold market. right w i hear you have reluctance of buyers what's going on there? >> well, i think that t buyers little more cautious right now. they are worried that they're buyingt the height of the market. so they're just a little more hesitant. >> the affordability issues is playing into it here i gues >> i absolutely. absolutely. >> and buddy, what about in you neck of th woods, down in delaware, beautiful state. >> yes. >> thankoryou. >> theeast also saw the loss of state and local tax deductions in many states. how are things in your neck of the woods? >> well it's interesting, delaware is very interesting because you have northern

delaware, southern delaware. southern delaware on the ocean. a big place for people to retire aon the beach obviously the demand is very high. when you come north it's little slower. on the -- on the ris however, we're so close to philadelphia, baltimore, york.gtonimnd new we're the hub. they're the places that are really doing incredibly well. and we're picking up some of b thiness as well. >> every time i pass through delawaret seems there is more construction. co you have a lot going onco the do you. >> well tt's what our state -- our state thing is the blacktop is basically our state item. they're constantly redoi the roads. >> kourtney what about the quality of the homes that a for sale? i mean we all know it's expensive to live in califfnia. and you are moving from a state out of state into , californou can get some sticker shock. so what'snv thetory that's available,hat are buyers tell telling you? >> so i thi tt's part of

what's slowed is the home sales is the quali of the inventory right now. you know, when a home is of good quality it goes really quickly. you know, there will be a couple of offers over the asking price and iill go quickly. not as many offers as there was last yea last year we were seeing 10nd 12 on one home. this year you g three to four on the good quality homes. but i think one rea slowed is the quality of the inventory out there has declined a lit e and you know the prices are sometimes they're a little overpriced a thiike thaic and the buyers are more hesitant. >> anecdotally courtney we heard asian buyers aren't coming in as west s they have op thep coast. are you seeing that at all in your part of the los >> i -- i don't know if i'm allowed to comment on the demographics of home buyers ethically. i don't know. >> well, where do a lot of your buyers come from?

i mean i assume you mentioned out ofintate c to lifornia they will get sticker shock from other parts of the world i wonder that's the case as well. >> there is -- so i will say that aplot of p are more so moving out of state. >> right. >> than comingntotate. most of my buyners burbank andi surrou areas work in the studios and movie industry. and that's where my buys come from. and the first and second time buyers from those industries. but i do see a good amount of buyers from other places not necessarily out of state but even out of country. >> yeah. >> buddy, talk to me about the taxon situa you're in delaware. a tax advantaged state. >> rit. >> have you seen a migration fromigh tax states to delaware? has that been a factor in fueling t moven your real estate market. >> yes, we have, as a matter of fact, the surrounding states. the quality of life here and the cost of living is much lower than most of the surrounding states. but interestingly enough there

is a lot of still international money coming into ourstate. and we're so close to philadelphia, 35 miles away. a lot of that is it coming and it's just great. i think it's a generational item as well. a lot of millennials are t startinghe me into their house. e you -- is this the eginning of a pickup for you buddy? we are talking about nationally a slush sluggish marke overall but it sounds like you haven't had that situation. >> we've been -- like delaware is coming out now. coming out going up a little bit at a time. but if you look at it it's based on job creation. andbviously we have createded triple figure jobs in the last probably 18, 20 wmonths. soh that happening, there is more employment. unemployment is 3.7. all these factors are helping. more companies are moving into the northeast. so we think it's going to be a really, really vibrant market in the next 6 to 18 months.

>> buddy west from emery hill residential. courtney hall from keller williams, burbank. thank yo for joining us. >> thank yous for having us. on wall street the strong home sales report was hot enough for a market broadt. bo stocks searched for direction holding steady under all-time highs as investors remain conc ined about the trade war between the u.s. and china more on that in mute but first the closing numbers. the dow jones industrial average fell 52 points to 27094. the nasdaq was up 5. and the s&p 500 bay coalesce recording slightains. the global economy overall is growing at the slowest pace since the greatest great recession finding of the portioc for econoperation and development. the group downgraded outlook fob economy to 2.9% for in year. citing the u.s.hina trade war and potential for a no brexit deal. it also pointed out that investorsre holding massive

amounts of risky debt, specifically lefrpged corporate loans. as trade tensions take a toll on floebl economic adowth, negotiators from the u.s. and china are back at work trying to hammer out the differences. kay kayla tausche reports from washington. >> reporter: dozhis of cnese officials arriving at u.s. government offices today for the first if face-to-facecerade talks the june truce fell both sides want to deescalate tensions though serious issue between the economies remain. >> the question now is whether or not the china wants to do a deal. i think and if we have a sense china wants to do a deal we just >>n't know if they want to do it yet. hile a broad deal remains elusive this week's agenda tackles specific issues according to sources currency which the treasury says china minutes and fentle when the u.s. says china ships process. and agriculture as farm finance

strugs mchalted u.s. pchases this summer but a end in sit after talks wrap in washington the china vice minister w l take a small group to montana and nebraska to meet with u.s. farmers personally. sony paydu sass that visit could accompany a purchase agreement. >> there is more than just purchases here. there are structural reforms the chinese knowhat we have to have over non-tariff issues as well. and we hope t tt these purchases or agreements or these talks this coming week can lead fruitful and giveomentuenas we said in the further discussions of a trade resolution. >> the goal of deputies this week isn't to broker a deal. it's toab set the for a meeting among principals next month and aet meetingen the country's two leaders after that. and adviser to predent trump tell the south china morning post if he don't get a bigeal soon tariffs could sky t rocket. more nightly business repor kayla tausche at the white

house. l time tk at some of the upgrades and downgrades. we begin with shares of costco rperform from un market perform at bernstein. the analyst says that investors are overpaying for the quality of earnings, dividends and defensiveness. price target $230 that stock fell1.5% to close at 287. o .83. g u.s. steund downgraded to underfrrm to outperform analyst speaking steel prices staying weak and therefore there compan caw under pressure. the price target there $9. the stock down 11% to 11.06. brown foremanen was do graded to underperform from inline at every kor isa, citing the stovaluation, the price target is 60. the stock fell afraction to 64.30. coverage of i don't know meat itiatewood overweight rating at bark clay. the company says beyond meat isd well positio for the future.

the price farther is $185. the shares rose a fraction to 154.92. still ahead, the growth in gaming and appls strategy to become a bigger player in that industry. t ♪ ♪ ♪ ♪ a the house has passed short-term spending bill preventing a government shutdown at the end of the month. th measure gives lawmakers until thanksgiving to pass more than ll$1 tn worth of annual funding bills. the estimate is scheduled to approve the stopg measure next week. house speaker nancy pelosi today unveiled a proposal proposal to drug prices.ption her plan would allow the federal

government to eve negotiate the prices of some of the most costly drugs that lk price competition and the bill would also impose penalties on those drug companies that refuse to negotiate. makes lower drug prices negotiated by medicare available to allam icans. it stops drug companies from ripping off americans while charging other countries less for the drug. pelosi said she consultedlt the white house while developing the bill and hopes f bipartisan support. facebook ceo mark zuckerberg is in washington talking to lawmakers about internet regulation, and privacy protections. zuckerberg had dinner lastrgight with some of the biggest critics, including senator mark warner. mr. zuckerberg said he is willing to work with us on legislation. the challenge t a dreg has been can we get to some of the legislation to the floor? i thin we are way behind ready, behind europe and behind states like california on

privacy legislation. i also think we need legislation eat would enshat as users we have a right to know when we're being communicad with by a human being versus a bot. i think we need to to make sure we know what data is collected about us how much it's worth. >> senator warner also said the wild westay of social media must end. amazon founder and ceo jeff bezos as a plan to tackle change. today he said he is committing his company to meeting the goals of the paris climate agreement ten ars ahead of schedule. >> it's a difficult charenge sis because we have deep, large pl infrastructure. we are not oem movin information around. we'rekaoving ps around. we diver 10 billion items, re than 10 billion items a year. this is real physical scale.ructure at real and so we can make the argument and we plan to do so passionately that if d we ca this anyone can do this. >> bezos expectsod 80% of a

energy use to come from renewable sources by 2024 up t fr current levels of 40%. the goal eventually is to transition to zero emissions by 2030. and now to ale and its push to gaming. the company today launched the new video game subscription service called it's all part of the company's move to expand business beyond the fgshipphone. osh lipton i san francisco for ustonight. >> reporter: more than 2 billion people will play video games around the world in year. apple now hopes some of them try.give itsew service a arcade is a subscription service which at $5 per month also inclones access for u to six family member featuring more than 100 new exclusive titles. the cpany reportedly spent hundreds of millions of dollars secure these new games. >> we're adding a whole new way to games on the app store

with apple arcade.ne we have j forces with the world's most innovative game p developers th the boundaries of what's possible. >> it's no surprise that tim cookants a greater piece of the gameth industry. total game revenues this year expected to reach nearly $150 billion. the sucilss of the servicel come down to the content which perts say must be fund, engaging entertainment to win over gamers. but doe apple also need a breakout hit? a marquis title drawing in gamers. the analysts say not necessarily. that apple needs enough good gameju tify $5 a t month. ialysts don't think arcade will have a bigact on the apple bottom line but any do think arcade could bolster what investors care a lot about, the company's faster growing, higher margin h services segme. by some estimates potentially adding $7 billion in revenue over the next three to five

years. apple mightls have kegs. google is highlighting its own game subscptioerce that could becoming soon no details yet on pricing, content or launch date. for "nightly business report," i'm josh lipton, san francis. sales come up short at darden restaurants. and that's where with he begin tonight's market focus with the parent of olive garden and other chains reporting profit better nan expected. a penny better. but revenue light despite positive results from olive garden capital grill andho long steak house. casual dining chains have been struggle as consumer opt for healthier fed rden shares fell f toto 128.68. deej o showe not immune to global trade policy changes but the world's largest spirits maker says it's on track to meet the sales targets and mentained ull year outlook. as for trade issues it's been making a push into the chinese

market and recently raised concerns about the scotch brands being dragged into the tradee dispetween the u.s. and gorope. diff a fraction to 163.10. famed short seller jim chen os betting against grub hub. saying the delivery company faces major competition and labor issps and doesn't hel th the restaurant business overall is stagnant. right now grub hub is makin almost no money per order. something like 15 ces an order. and there is no margin in the business. and youbu basically put two mor hands outstretched for the restaurant guy saying pay the delivery company. pay the driver. for money thathere really not making. >> shares of grub hub slid 5%d o 60.51. wahl green the first to test on demand drone delivery services. the pilot c programducted in conjunction with alphabet drone

delivery service called wing. the program will deliver food, beverages and overnt over-the-c medications but not prescriptions wgreen's rose a fraction. truck maker and a half i star will idle production of commercial trucks f general motors next week. they say due to the labor strike it willun out of parts for gm instruction foam. and a half i sr assembles the trucks for gm at a plant. and a ha i star rose 1% to 29.30. after the bell texas instr plans to hike dividends by 17%. the chip maker will have a quarterly payoutf 90 cents a share. t be declaredte m by the company board. the stock was stead inny in after hours tradingut finished the regular session down a fraction to 128.83. and the cloud software company data dog had a strong wall stree debut. kbeeting with cloud priors by

amazon microsoft, sysco and zo. pinstripesed at $27 a share and climbed to more than 40 at the open. the shares ended up 39% at 38 o 37. 55. >> before companies go public they need to prove they can grow as a private company. and to grow as a private company they need to prove that they are worth investing in. in other words, they need funding. t research shows that some start-ups run by women are not getting as much financing as male counterparts. julia boorstin has the story i estor trying to close the gap. >> edith doorsenees an opportunity in closing a gender gap for entrepreneurs which is why she raised two the ventu capital funds investing in gender balanced teenseeaising a stage funding. starting to gainraction to secure financing to grow. >> we are seeing a large growing percentage of the deal flow that is in fact series a ready. >> companies with at least one female founder have raised less

than 16% of vllture capital funding in the first eight months of this year. according to pitch book. procedure's cnces of raising capital declines between the early seed financing, the first funding round, and the a when they look for bigger checks. to scale the businesses. and it' even harder for companies wemh a fe foundered which see a bigger drop between seed and series a deals. >> very few institutions are yet tting capital in at the stage we are talking about, which is where we think the bottle nec is. specifically in what with we refer to a ser>>s a. oorsen sees untapped opportunrty in focusing on female led start-ups which may not get as much attention from male venture capital partners.ru mere focus the backing of both institutional and individual investors.to one inv is the carlisle group chief transformation officer an exexetive as booth allenamiltonver 30 years.

>> the equity issue with respect to women and getting accs to capital it's a nice thing to do. and because there is money left on the table. >> one of the investment is hop skip drive a trpgs service f kids cofounded by moms. >> i'm really excited to have v female fundshg in the round. because they saw the potential in what we were doing. since then our growth has just taken off. >> that a round investment enabled hop skip drive to expand the potential for ride service for kids age 6 and up. originally jt for parents it's now focusing on working withsk ms. now mcfarland says the company has contracts with 170 schools and districts across seven states, growing the revenue by ree timeshis year. for "nightly business report" julia boorstin in los angeles. coming up, the safest

electric vehicles on the road toy. ♪ ♪ ♪ there are now 530 confirmed and probabl cases of vaping related illnesses. according to the center disease control that is up from 380 a week ago. the fda is also investigating more than 150 products and has disclosed a criminal probe. but the probe is examining the supply chain of vaping products not individual vapors. >> finally tonight brand-new cash crash test results of alternative powered vehicles show some of them are among the safest on the road. it raises the question, are

electr vehicles which have battery packs and small motors saferhan cars and trucks with internalbugs engines. phil lebeau has the story. crash tests of electric vehicles and hydrogen fuel cell suv show three models handle a variety of clisi os better than many vehicles. in fact two electric vehicles, the tesla model 3 and audi e-tron with the hienlda hydrogen fuel cell suv got the best rating possible from the insurance institute for highway safety. the chevy bolt did well in the crash test. but did notop get a safety rating did you to concerns about its headlights. >> for sure w. ca say the vehicles we recently tested have the same state of the art protection w see in more traditionally designed vehicles. >> mt evs are built withge battery packs positioned on the floor of the vehicle.

model like tesla have a storage cabin in front of the week very where a large engine s typically located for internal combusten vehicles. thao engine means a lower chance of passengers injured. >> the fact that the the batterb ca placed in a variety of places maye with me flexibility than the a gas tank. does provide p theotential to make electric vehicles safer at safer than e if not traditional vehicles. >> the iihs notes the risk o battery fire after a collision is not a major skern. since theasing holding the batters have held up u well in crash tests. short, the tests are fresh vehicles ome electric look to be as safe as oth models. safety may not be a marilyn issue for those considering an electric vehicle. but supply definitel is. the number of evs op the market

is stilllo relatively which is why the number of electric vehicles actually sold in the u.s. is a small percenge of total vehicle sales. phil lebeau, "nightly business report," chicago >> before we go a look b at the final n from walds. the dow fell 52. nasdaq up 5 a the s&p 500 saw slight gains. that is "nightly business report" i'm sue herera thanks for joining us. >> i'm bill griffeth.ni have a great e. we'll see you tomorrow. ♪ ♪ ♪ ♪

woman: this is "bbc world news america." is made possible by... the freeman foundation; by judy and pete blum-kovler foundation, pursuing solutions for amera's neglected needs; and by cpbtributions to thistation from viewers like you. thank you. laura: this is "bbc world news america." reporting from washington, i am laura trevelya