♪ >> announcer: this is "nightly siness report," with bill griffeth and sue herera. high hopes. president trump plans to meet now with china's chief trade negotiator and investors take it as a potential sign of progress war.e two-year-old trade bed bath and way beyon the stock stages the biggest rally in 10 years as invtors bet the new ceo will lead a coorate turnround. and changingretirement. ghe rules are differe and savers are tryino nachgt the new normal. those stores and more tonight on "nightly business report" for this thursday, october 10th. and we do bid you good evening, everybody. end welcome. sue is off tonight. another tweet. another rally. president trump too to twitter

today to say he will meet with a key chinese official on trade tomorrow. and late today he said the talks stween thebe negotiators have gone wellfar. that was good enough for traders. the dow jones industrial archl up 150 points today to u 26496. nasd 47. the s&p added 18. kayla tausche starts us off tonight from washington. >> a es athnet repte or:f hskeand hi anticipated trade talks thursday. after thr days of med brawls and a threatout c short. liuhu greeted by ambassador robert lighthizer pan steechenn mnucined by a delegation of three dozen officials. despitese one s ceven hhiours c level talks behind closed doors, the biggest news n on twitter. meet the vice premier at e white house tomorrow.

saying cna i? ttsi market investors are heing the last three visits wereniom by positive ne. in jry announceening banaling wldurchase 5 million metric tons of soybeans. >> hopefully they buy lot of corn and wheat and everything else we have. >> february visit wasesulted in a tariff dpla and april visit focused on the forthcoming meeting where trump and president xi would close the deal. >> the deal is coming ang we'll. we'll know over the next four election. >> shortly aer that talks broke down resulting in tariffs on hundreds ofs billions of dollars additiona wasn lthen. two former white house officials say the fact that the president annougnchee m m tngbeadtieadye. n.r "nightly businesst,ep"n waso yes, trade r is very importt to wall street right now. s just one of the issues bu paying close e

attention to. re is bobisani at the new york stock exchange. >> stocks rallied at u.s. andhi shyennesse officials metevksn hon.fo l theigrow h spiked around 509: a trump and tweeted he and t vice premier would meet at the white house. regardless ts market content aenany kind of mini deal orrut that might i tolve say buyg a culturalroducts in ehange for no new tariffs next week. but the usual sectors lie china stocks, material and energy and strials rose today. yond trade borisduin johnson with iesh irish counterpart and asueekint a joiath way to dooeae srels d of pg&e plummeted 30 peppers after a judge poepd a door to a rifle bankruptcy plan from activest

shareholdering allowing them to seize chrome of the c ompanydis. this comes after pg&e shut off power in northern californi last night kbaking roughly 750,000 customers. e utility says it could take five days or longer to restore power. esr niltinob b spisani at the new york stock exchange. in other newshe government said today the consumer price index was flat i september. expectations were for a increase. decline in ergy and used car prices cped inflationary pressures pll.s earlier t week another report showed unspeculated decline in producer prices. economis say those two reports show the trade war so far is having a impact on flation. t andhong a se reserve today said that the central bank should continue tor cut intereses. the president of the minneapolis fed pnted to slowing global growth, weakens businesses,

investment and thosenflation numbers that have been below the central bank's target as reasons t he a the while he is happy the fed is lower rates he is not sure how many more reductions are needed. elsewhere oc tripped the forecast for oil demand growth the third month in a row. inin a closely wched rort the they cited weaker tn expecte data out asia-pacific region and also theth o america. the outlook could put pressure on the world's most powerful oil producingg nakss to impose teepr cuts when they meet in december. despite the soft outlook, the price of oil rose in satisfaction. two stocks made bigs moves today. tolbath and beyond and pg& ouar last night they ne sngy hired a new ceo.nvtoedt stockto up21%.

courtney reagan tells us why the market thinks mark triten is the man to turn it ar a. ou nd beyond c ghief manafort merchan taking the top job at bed bath an beyond in b an effort to tur it around. merchandise faili excite with shoppers and a digital strategy that's fallen behind compet tors. ao of active ifrts bought sharar of the home goods retailers and petitioned for change which iow under way. chris kuir onef thee key investors at asset management said markrit isn't a superstar talent we are so excited he is joing bed bh and beyond. we belieie he has the skills to return it to greatness. during years at target he was a key part of the leadership team that upgrated stores and merchandise. and how merchandise is presented to shoppers. he was par prman of e

centers for online centers which lowered cost improved convenience for shoppers. at target and reinvigorated nds tirednes including home goods lyons. elopreer ivate labels a dev developing them there is more pricing control and high are profit nlt than national brands. a third of target sales are prive lab goods. and only 10% of bed bath and be pnd. improvinvate label is a key part of the turn around strategy at the home goods eretarger. was sputtering when triten joined frome a ntr scena as bed bath and beyond. he hasn't been a ceo before and it's not clear how long it will take f big changes to take effect. but today bed bath and beyond investors have hope for t rort, rurtnch. for pg&e.ainly a different story as we reported last night as bob

pisani menonedearlier, a judge opened the door to a rival bankruptcy plan. that sent the stock down near lid 30% in today's session. mewhile, as you heard, hundreds of thousandsus of the utility customers remain without power during the self-imposed blackout. affecting household, businesses and potentially the local economy. josh lipton isnberkeley, lifornia for us tonight. ♪ >> reporter: gusts of wind as strong as 77-mile-per-hour hit parts of california today. d that has pg&e nervous. the worry ise that those highnd could damage infrastructure leading to devastatingldik t catast wrophes last year in paradi c,orni pg&e is thousands of califoia custome. roughly 10% of 34 of 58 counties across thebe

state hav impacted. the utility u saying in a statement, this is not a decision we tak lightly. this is the measure that is needed as a last resort. the outages resulted in runs on suppliesike batteries, coolers and flashlights. nd as gas stations and grocery stores too. th utility says it could take five days or longe to restore power, which could result in 2.billion in economic damages. companies are responding as well. tesla apparently told its california customers to make sure to power up their vehicles. many might be frustrated with pg&e. though some california residents say theyd undst the utility decision. >> i'v spent two ders, y up in napa preparing and i'd much rather have them be overly precautious and be able say after they turn back on the power, perhaps we helpedev

t a fire. that's a positive attitude to. ta that's a responsible attitude to take. >> all this comes at atical time for pg&e whirich c sought bankruptcy protection earlier this year. cititi liability costs related toires over the past ce oouned to a rival bankruptcy plan, send sharply lower in trading. now on track for its worst year onecord. for nightly business report, josh lipton, berkeley,ia californ time to look at some of the upgrades and downgres. beginning with shares of apple. upgraded to buy from neutral at long bow research with the analyst citing recent reports of more demand for iphones than originally thought. newrice targe is $260. the sck rose to 2309.09. morgan stanley upgraded to buy from hold at at sandaler il o' the analystly cited the price saying it's traded at an warranted discount.

price target $48. the stock gained 1.5% to 41.05. united health care wagons downgraded from hold to buy at jefferiys. the analyst overcame man from theer managed sectorrice target is $235. despite the downgrade it was up to 223.73. sysco downgraded from neutral from buy atsaoldman s. the analyst saysay trade uncertainty is causing business to cut theirnd sg in technology. price target, $48. pl s6.avlling morthan% for15 . retirement i changing and it may beju time to your strategy as well.te ♪ >>

delta airlines reported better than expectedte earnings today, helped by strong which prompted the airline actually to hire more pilots, flight attendants and airport workers. but the carrier revenue came up a bit short of estimatim. costs have been on the rise and the ceoayaid tod delta international business is a ao facing headwinds. > intnational. i side which i o eathirds ermestic. we up 8% in the quarter. internationally, there's been pockets of we ca asia. ceainlily the tariff issues on automotive and heavy manufacturing custometr cut back

el to asia. europe was a bit week weaker >> shares of dta f toy in tradi sessi tay. el we knowell that googleokn face dominate the online ad business but things are changing in the digital mediaan industry. some surprising winne are emerging. jusa boorstin explains. >> repr: two weeks. discovery backed group nine bought pop shoeing an or $900 million. e brought refinely 29 for 400ma zine for $105. milli all three in allto a sck consolidating in par to better compete witacebook and google for ad facebook and google together dominatena0% of all digital advertising revenue in the u.s., according to e-marketer while they hoped dig pallishers grow. they've been criticized for changing allege richlseali tba

dollars. >> they credibilitied to ricef tothe spread stories tto larger gre.ps of peo google in terms of search, google new bes, facebook in terms of viral social content. but they have caused problems by, you know, swallowing greater and greater shares of digital ad spend time. that's where >> the digital behemot traditional publishes such as "new york times"an b aeg e su bscriptions. but now the stocks are turning ound. as the newer digital businesses kick in. year to date new york times shares up 27%. began et up 23% and news n corp shares up approximatete 15%. >> many companies tt are successful are pursuing revenues, phaps commerce type partnerships as well. so it's really about diversefy

indicaon. relying resigns on ad advertising. because. >> and now google and facebook take steps to help the publishers. gole's reporting and search results focuseding on reputable publicatis to drive icks to original stories rather than to aggregators that repurpose other's g.rtre oroothbodundidi to payublish esper to include content in its abhe.g news no a cebook strikes and what kind of licensing fees or subscription renue is drives. julia boorstin, los angeles. gener motors sees a fif a consecutive quarterly sales decline in china. that's where w begin the mket focus with the auto maker reporting a 17.5% decline in china vehicle sales due to the onhey t increasedre lowerr,

competition in the important mid-priced suv units. separately gm mary barra met with the united auto worker iesidentebout t str in heou 5% its1. to e.s. legal challenge against t-mobile and sprint's proposed $26 billion merge ebber.tt the statesney general says the combined wireless company has agreed to bring the fiechg network to mississippi's rural areas.bi t-'s shares up a fraction to 78.30. while sprint was up more than 2% to 6.27. chemical maker craten expects the ye forecast. citing weak demand in asia due to the trade war and sswing profn north america and europe and that stock plummeted about 32% today to $20.42.

nd>n a bll wal-marthe announce t ds john fourni is nounsdsed the new the presidentde and ceo of the divisipl. es greg foreign as the air new zealand ceo. wal-martharesolatil in after showers trading tonight after the close of the regular session up a fraction to 119.61. fid eliot now is the latest brokerage to eliminate trading commissions. in this c5e from $4 per online tra toero. fidelity andfiivals are working hard these days to lureore customers with lower cost pructs and services. and f felity also recently unveiled plans to offer higher yields in money market funds. for its 21 million accounts. in the meantime, the 68 soego ttamericans receiving alitecureny a b1.6% increase i their monthly checks nextea that's equal to $23 a month for

benefit of $1460. the percentage incre is more than the average over the past decade but it's also the lowest raise that they've gotten in the past three years. the costf living adjustment is determined by the consumer price index. last night we talked about general electricreezing pension benefits for 20,000 salaried workers and offering buyouts to 100,000 former employees who haven't started drawing pension. there is no questio that planning for retirement is a lot trickier than it usedgradual de plans record low interest res and higher stock market volatility. joining us tonight to talk about the changing nature o retirement plans we b welcok liz westin, a certified financial planner and persona financial expert at nerd wallet. good to see youliz. how have you been. >> goodo see you, bill. thanks. >> i think the biggest chahae we see for retirement planning, the

word guarantee is long gone, right. >> oh, absolutely. except for socialecurity.anymore you get a guaranteed r rurn when you put off claiming. so that's something you can loo >> that assumes thoughfo that assumes that social secucuty will be there wn you're readyti to . >> yeah, it will be there. it's too popular a program to go away. ur promisisi.ont c cso oou scinl plu. younger p need to be aware of the fact if they don't pay atteion it could be reduced or eliminated i don't think it will be eliminated but could be reduced they could pay the price if they are not paying attention. we'll hold youo that. the record low interest rates we see these days forces people to o to the stock marketsans, evem right?>> absolutely. i mean,bs you can't get a safe return and high retur in the same investment. when you go the safe route you r get a r that doesn't keep up with inflation. that's always true. but i think when the low return

environments we have now, thee low s returns it's really ntos e the one asset class that outperforms inflation over time. when you work that's where the bulk of the money should be. but even in retewirout em y decades. you need at least some ofhe money in the stock market to w keep uph the rising cost of living. >> is there still a role for bonds in retirement? i guess certainly higher yielding corporate bonds but they can be risky sometimes. what about overall debt instruments. >> i would have --io ondusicbvi des of the ledger whether tocks or bonds you don't wan. corpitorate bonds stay away fro junk bonds if you are a retiree unless you have a reaea taste fr risk. corporateonds and a f z treasurys to keep it balanced out. really born. maybe a little bit intl cash backup that diverse fix is

ant.tin i pers eroded over mtime. >> goot and potatoes advice from liz westin with nerd wallet good to see you thankyou. thank you. >> a whole new meaning to the termack seat driver. >> reporter: you want to talk about tan future of your ride? utonomous vehiclesand lyft. a onto what you do in the back seat of your car. and coming up, i show you what i'm seeing.

♪ wle u.s. and chinese trade negotiators hold talks in washingt h. the nba iing for a truce a wee necanet o when because o the general manager of the houston rockets made a pro hong ko protest comment.he view from beijing for us tonight. >> the trade talks are s at a time when the level of ritics continue into .-chinausfc today. houston rockets nike productsy o were pulled from store shelves bedave ailhe srfxpo mta ion game between the lakers and nets in shanai but that brechas cancelled. the chinese critics of the nba claimhat 1.4 billion chinese were hurt by the pro hong kong protester tweet of houston rockets general manager.

but the stand at the game with packed. showing the nba is keeping part of tse chi fan, eunice yuan in beijing. finally the ride hailing industry provides some 50 million trips every day. and most of those h riderse some time on their hands while they're riding in the back seat. well now a start-up software company is launching a product to keep the riders engaged and d.thf coback sea >> let's put on the headset.e >> it's l a theme park in the back seat. >> is there any danger of the >> an immersive virtual reality experience realtime data from the cars computer on braking and speed and turning. >> the car ss ppopin. g stngpi too. so it's synchronized in realtime.

when the c accelerates your virtual experience accelerates. it reduces motion sickness as well. >> kneels vonny in af proof concept partnering wh ford and universal pictures for a hallowee experience at universal hollywood. he hopes to have the software in vehicles by 2021 incorporating game, enterinment and while they're in on the go. but if they get m mioick they ant.n' b cputing platform. if iio mt'otn sro be more produ >> they are not the only ones lookin at the upside think about the manufacturersreat o f discover disney, universal. ford is particularlyer ited haint c experiencing the ho ride for halloween at universal. >> as we get to more connectivity in the types of ex

that our customers are stin i increentiedvize car makers to make the software standard in vehicles and share nue with them. porsche is exploring the oions audio which launched halo ride and still owns a 10% stake. audio tells us in car entertainment and gaming harbor enormous potential for yfmior b ang into a digital anxk ex . realistic, more complex and more mobile. >> vr is typically location based eeriences at home experiences. the content we bnd put it take in place where consumers are. >> and increasingly the consumers are passengers are the driverlessss carve the future, . >> i'm having a hard time interviewing you and shooting demons at the same time opinion admit.t >> perhaps it's also what

multitasks in the future looks like. "nightly business report."r, before we go, let's take a final look at the day on wall street. etother rallytoday. 26496.w up another 150 points the nasdaq was upas 47. and the s&p added 18. and we have more trade morr. that is nightly whiksch is tal " for tonight. i'll era i'm bill griffeth. thanks for watchg. have a great evening. see you tomorrow. ♪ ♪ ♪

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