this is "nightly business re rt" with sue herera and bill griffith. >> calm before the storm, the i mark closing in on new highs. will the slow and steady climb result in a year end rrally. today's homeowners are sitting on a record amount of potential cash and they're not tapping it. the world's oldest travel company collapses and the impact is being felt in local economies around the world. those stories on much more tonight on "nightly business report" for this monday seember 23 rds. >> good evenin everyone,nd welcome. as we start a newlc week, it ma

seem like the mket is one step forward and two steps back. there have been bouts of volatility and head scratching moves. stocks have been on alownd steady climb higher. today the gains were capped because lfgering concerns about the global economy. the dow and the s&p 500 remain just 1 1/2% away from their records. th dow jones industrial average was 14 points to 26,949. the nasdaq fell five and the s&p 500 was flat. mike santolli takes ali look at whether this market calm will give rise to something else. >> steadiness has been the rule on wall street. the s&p 5 remains within 2% off its record high. on going trade friction and the fed meeting that was meant to arify paths forward.

marketsre typically seen as well supported by iestors looking ahead to improve fundamental developments. the rally has been broad with investors apparently happyt t the u.s. econoc committee will the market valuation today is about the same as one year ago which proved to be the 2018 peak ahead of the bruising ourth quarter downturn. bond yields were one percentage point higher. on d is easing back terest rates. and investor expectations for growth has been reset lower which can help support stocksor term uncertainty. it remains september. and the f might only keep cutting rates if the news from the trade policy arena turns bads and growth falters. this will keep investors on alert for signs o weakness if the market sneaks through septptber unscathed. the bulk of the year end will no doubt grow louder.

it was weak economic data out of europe today that kept a lid market gains and contributed to concerns about the globalte comm that sue mentioned. manufacturing activity fell to a sixere year low while services grew at their slowest pace in months. manufacturing in germany which is rope's largest economy, that fell to its lowest level since the financial crisis of a decade ago. utonomists contribute the slowdown to brexit concerns and the e.c. meeting today. >> instead of being that sort of big window of opportunities for each other.ws to compete with it weighs like a big dark c cud on the global economy. >> the u.s. economy with its low unemployment is in a very g rd placht now. >> we learned today that activity in the u.s.ac manufacturing sector was better

than expected hitting a 5 month high. having an easier time with s standi the trade war than europe. housingu know, the market looks like it's starting to pick up once again. we had reasonabl reports showing an uptick in sales and home prices. and when you coupleit that the conservative borrowiwi habits of many homeowners thes days, the result is a record ount of home equity. diana olick has more. >>wn homeoers are becoming hwealthy, those wit a mortgage saw their home equity increas by almost 5% annually at the end of the second quarter. that's a collected gain of nearly $428 billion accordingo re logic. home equity is now at a record high. break it down by borrower, and the average homeowner with a mortgage gaine$4900 in home equity in just one year. >> i means homeowners have a high level of home equity.

it's a n to make investments in their home, they can tap into .hat home equity to get the proceeds they ne >> the amount of equity available for homeowners to tap, also reached a record high 6.3 trillion according to are separe rt from black nigh homeowners are sitting on their equity more than they have in the past. even with mortgage rates nearly record lows. just$54 billion in equity was withdrawn in the first quarter of this year. less than 1% of what was available. that is the loweste vol four years and the lowest share of available equity tapped since blrak nht beganing this metric in 2008. >> because of the housing crash, ei think that's in memories of so many homeowners, left a f lot oancial scars on people, and so i think they are a little more hesita. and even though we have seen homeowners tap into home equity

for home improvement purposes. the pace that we saw in 2005, 2006, 2007 >> he prices had been cooling s off earlier t year, but now are heating up again. home equity will continue to nd rise, homeowners will continue to be in the money. forin nightly bs report, diana olick in washington. >> it's time to take a look at some of today's upgrades and downgrades. the analysts calls margin concerns overblown, the price target i $36, the stock rose to 27.50, chew we. the price target for kimberly clark is $152. the stock rose to $136.83. barclays downgraded clorox, with the analysts sighting the potential for softer revenue growth that could impact earnings.

price target 51. the stock fell today. alcoa, analysts cited r aluminum prices in the n term. share prices fell to $21.30. the sudden demise of the largest travel group is being felt around the world. general motors has furloughed another 1200 worke00 asesult of the labor strike that's entered its second week. the latest round is on top of 4500 temporary layoffs.

the automaker and his suppliers handed out on friday. those aff ted are from a facility in ohio and a powertrain plant in ontario. warning of consequences should britain leave the european union without a plan in place for trade. a no deal brex could have an impact on the car industry. disrupting suppliers and sellers as well.r the t operator, thomas cook a behemoth ran his own hotels and flights is no longer in operations. deaving hundreds of thousands of travelers stran and setting in momoon, the biggest peace time repatriation in british history. dillon marks is in london night. >> reporter: it's the end of summer, and the end of an era

forritain's huge travel agency. >> further intend negotiations in recent days. to save our business. to secure >> reporter: the business plan failff to take this weekend, thomas cook ran out the ncl runway. that left hundreds of thousands of stranded customers feeling out of pocket and out of options. were told the flight was cancelled. >> we were told to go home. >> thomas ck began selling railway excursions in the 1840s. the firm he built helped create vacations. for post war package it grew until they were sending 19 million passengers a year to their dream locations. no longer. >> not what we wanted really.wh

can you do? people have lost their jobs. wee not as bad as some other people. >> the company's overnight collapse has left hundreds of suppliers unpaid. from hotelwners in bulgaria, to aircraft crews in tunisia it sparked extraordinary interventions from governments across rope, especially the u.k. >> people need to be back at work. we c't leave brits stranded abroad. we needo bringeople home. 150,000 people, the biggest peace time repatriation this >> reporter: critics say they could have acted earlier to >> as much as an operator can't fulfill its b commitmentsause it might fill its commitments

financially or to its customers, they shouldn't be taking on more work. >> they may now be on the hook for pretty heftycosts, but insists it was the right decision not to plow $300 million of money into a firm with billionin deb thomas cook was not a strateg part of the u.k. economy, and has failed to adapt to the travel dustry's changing landscape. for those holiday makers that went hunting for sepmber warmth, that may prove cold comfort as they hope to getho . >> for nightly business report, >> as you can imaginin the collapsef thomas cook is rippling through the sector overall. shares of cruise liners were better today. >> what kind of impactt do thes tour operators have onocal economies? markle wood is theontributing

edit with conde nast. it's good to have you here. >> reporter: thank you so much. >> what kind of impact is the demise of thomas cook going to have on the local economy where it functions? >> it's quite sigficant in the short term, 20,000 people employed by thomas cook around the world, not just in n britai so that will have an impact. and then several holiday hotspots, places like crete, other places in greece, florida, the hotels will be paid ins. arre once the vacationers have left the hotels receive their money. the moment, we're not sure what will happen to those hotels. what monies will be there is a short term shock in several economies.>> t comes at a time when so many people are booking their vacations and holidays online using other services, continuing tal services.

the travelocitys and price lines and so forth. from that standtaint thomas a ck wa throw back to the 20th century, right? >>t's a throw back to the 20s century. >> i hope someone describes it to me and says, thomas cook made aot of missteps right now.ve l mergers where there's more and more shock. thomas cook doubled down on brochures when the rest of the world moved to bar codes. i think it's important to remember, thomas cook is a specific example. it isn't necessary what represents a wider problem. it's vy specific. >> but given that,ed you menti crete, a couple other places th are feelihe impact of thomas cook. tat do they have t to do now a local economi make up for the gap that will be present and the lack of iome andevenue

that will be present without thomas cook. reek government has convened a cabinet meeting to discuss this, again, it's a reminder that tourism is a very important economic driver. it's not that fun thing we can . may enact tax cuts to stimulate the ecomy in the wake of this. ere are a lot of insurances. and it does look like thomas cook may follow thrgh with some of the payments. longer term, they'll have tore turn to dif tmarkets. this was very muchorthern european, looking for warm weather stinations. theye going to be looking for different sources of customers. they're going to lookurther to china, to america, to make markets they didn't traditionally focus on to fill those rooms. >> mark, thank you so much. >> pleasure. american express hikes its dividend. and that is where we begin ith the's market focus

company increasing its quarterly payout to 43 cents a share. buying back up to 120 million shares of its own stock. amex u was1% to to 118.24. boeing had pns to pay the famili of those killed in the two crashes involved in its 737 max planes about $500,000 each. family members will not be required to wave their right to litigate. the ashes killed 463 people. the 737es h been grounded since march. drug maker allen kroft hplas tot sub their tissue therapy to the fda. the fda has approved drug maker

exact scs at home colon cancer screening test forcr patients as young a 45. it had been approved for patients who were at least 50 years old up to thispoint. stock fell a fraction today to 103.77. price mart will be addedo the s&p small cap 600 index. price mart's stock has run up hrnearly 40% over the past months. today shares jumped about 20% to 72.38. take 2 interactive says it sold more than million units of its game. land video initial sales totaled -- topped the company's isernal pectations, it was onln line with wall street's forecast. take 2 dropped nearly 4% to 125.73. a number of presidential candidates have proposed new taxes on the wealthy as a way to pay for other programs. one of senator elizabeth warren pposals may have an

unintended consequence. it may fuel divorces among the ultrarich. robert frank explains.e >> sre calling it the million dollar marriage penalty. and it could create a new incentive for the ultrawealthy to file for divorce. >> your first 50 million, don't worry, you're in the clear. but for your 50 millionth and first dollar, you have to pitch in two cents. and t cents for every dollar after that. just two axnts. >> analysts say couples with $100 million or less couldvoid the tax by divorcing. sptting that fortune in half and putting each taxpayerel the threshold. a couple would pay a1 million annual wealth tax. if they divorce, they pay nothing. paperle could divorce on and s pll live the same lives in

the same house, since the irs does not challenge legal divorces f tax reasons. the divorce loophole is one of countless ways the wealthy would gain wealth taxaining far less revenue than warren is emmanuel saez told me, they could shrink this loophole by taxing single taxpayers for any wealth over $25 million. 80% of top wealth holdersre married, they had not yet focused on the issue. you can bet that divorce attorneys are certainly already working on it. for nightly business report, i'o rt frank. an from one breakup to another. ifbr your investmen returns are lagging, even with the market near new highs, you may be rethinking the advice you're getting, there are certain thingsid to co before

splitting from your financial adviser. sharon epperson joins us. >> you know, the investment returns, the portfolio value, that provides the foundation, vanguard did a survey of 100,000 of its clients. it'sot just the portfolio, they want financial planning, inthey want to out whether or not their goals are being met, is helping them set those goals. and then there's the emotional value, do they trust the adviser and is there a connection to help them reach their >> that doesn't always mean they'l m leave that adviser. why do investors end up leaving a financial planner? >> it's a life change. whether they're changing jobs, getting married, having a child, maybe they received an inheritance. all t se things paint a new financial piature for them, they want to make sure the advicme

s that. when it doesn't, then maybe it's time to a make switch. >> is that one of the warning signs? signs about why you may want to consider changing advisers? >> life changes and financial changes have to hand in hand. receiving reflects where you are right now in your life. make sure the adviser is communicating with you regularly. as practices grow, the adviser may take youor granted. you may get a newsletter stead of a phone call. u'll only get phone call if they're trying to sell you something. if they do not elain t the fees. the financialdver should uphold a if i dush yairry standard. n if they' doing that that's a problem. >> what's the best way to do you want to ecid leave? >> get all the documents you have, all the investment documents you have, tax returns as well. you want them to give you a full financial picture. talk toour old adviser and if you're still not happy with it,

close the account. >> coming up, your order is being delivered like few have en before. prosecutors in california have opened a criminal probemi into e cigarettemakerjuul. the investigation is in the and the exact foc is unclear. juul has come under criticism for f ling a teen vapping epidemic. the is examining whether juul used deceptive marketing to

target minors. nancy pelosi, mark zuckerberg, tom cruise, they've all been going viral recently highlighting theower ofeep fake videos. artificial intelligence is mang it easier for anyone with a laptop and simple web tools to create them. iti roy takes a look at deep fake content. and how social media companies e responding. >> reporter: this fake video of bill hader morphing into tom cruise went viralast month. the technologies also accessible and cheap. it's brought privacy issues to the >> we can literally carpet bomb

the internet with miss information. >> a deep fake expert speaks out. >> one is joe rogan, one is completely intenfied. >> twitter acquireda.i. to help detect fake content. google is exploring ways to invest in media. the good guys are outgunned in this arm's race. >> we're playing catchup. here's what i tell w you is the end game. >> for nightly business report, i'm aditi roy, san francisco. the fec reached a deal with nissan to settle allegations ofs underreporti compensation to carlos ghosn. the automaker will pay to settle the civil charges.

ghosn did not admit to any wrongdoing. he's facing criminal charges in japan, where he's currently t on bail. >> if you order out a lot, 's heomething you may see the next time your food is delivered. the future of home delivery. phil lebeau tells us about the rush to make deliveries driverless. >> this may b future of ordering out. post mates, the on demand delivery asfirm, which grown rapidly since 2011 is testing driverless rovers tha travel at low speeds and have the ability to maneuver downlk side if there's a problem, a post mates employee can step in and take control. the technology to monitor and drive post mates delivery partners has been working on teleoperation of vehicles for a

couple years. they can steer the vehicle as if they're sitting behind the wheel. other delivery firms are working on autonomous deliveries. the tech firm neuro has and dominos.ry chains automakers likeord are testi the waters. the key to autonomous deliveries is having a way to ensure someone can monitor and if needed take control tain situations. >> for now, post mates and phantom auto are testing autonomous delneries a small scale in los angeles and san francisco. as the technolog velops, don't be surprised if an autonomous rover is delivering the next meal you order. phil lebeau, nightly business report, chicago. finally tonight, the most m powerful women in business. fortune is out with its 22nd annual ranking in the top spot for the second year in a row.

the ceo of lockheed martin. gm ceo is number 22. in third place, fidelity's ceo saw a 20% incase in new client money last year. and that is nightly business report tonight. i'm sue herera. thanks for joining us. >> thanks for joining us. see you tomorrow.

woman: this isbc world" 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. thu. laura: thisa special edition of "bbc world news

america." reporting from the united nations in new york, i am la