this isnightly business report" with bill griffethnd sue herera. e back where started. the dow was unchangedtoday. that doesn't happen often but nothing about the recent rally is ordinary. sour milk.s americargest milk producer files for bankruptcy as the dairy industry undergoes massive change. outer space. why one of real estate's hottest sectorsins experienca bill chill. stows had those stories and more ton on "nightly business report" for tuesday, november 1th. and we do bid you good evening, everybody. d welcome. nada. zero, zilch. that's what the dow did today, literally finished unchanged, closing exactly at the same level it a yesterday. only the third time that's happened since the year 2000. the nasdaq also had little fire

power today. but it did hang on to log the 15th recor close of the year and the s&p hit an all-time intraday but failed to finish there. the final numbers for the day. e dow sounding familiar finished the session as it did yesterday at 27691. nasdaq was up 21. the s&p added 4. now even though the major averages are at or near the new all-time highs, the rally doesn't feel like your typical move higher. so we asked mike santoli to grad this recent runup. >> the stock market's run to record highs has taken mm vestors by surprise after a late summer bout of recession warnings. the question now is whe ter rally is on firm enough foundation to kerr on .. the shoert answer the market clb rates li raised highly on fundamental and technical grounds but in coming weeks or months overexcited excitement and could present a clalg to rap i said further gains to.

to fresh to fresh highs on 3,100 has been impressive broad and accompanied by notable strength in foreign mkets. the tally of individual stocks climbing versus those dropping has made freshighs with the dexes, suggesting healthy participation in theanally. seconders most sensitive to upturn in economic growth have led the way in recent months including financialsrt trans and smip conduct%. non-us stocks have done better. that's an sbapgs it's gaining worldwide as bond y lds lift from record lows. the market's opinions to brody better than expected third quarter earnings stilt down slightly from a year ago suggest investors v the last quarter as the low for profits in and better numbers coming. as theat up action indicates it's not looking at further interest rate cutslso stands as a vote of confidence that the soft patch in confidence has passed. the hazards are potential

overconfines and full valuatorns. inve surveys and gauges of trading activity show a shopper jump in optimism which is a positive until it carries too far. at s&p 500 valueses basedn highs for in full market, the meaning it's crucial forrofits to sta growing again if the rally carries through year end and beyond. for nightly business report, santoli. president trump today touted the success of the u.s. economy. in aed closely wat speech at the economic club of new york, the president discussed domestic growth as well as the fed and the trade war with china. here is eamon javers. >> president trump keeping the details close to the vest here yin nk at a speech at the new york economic club widely watched watched i the financial universe for any indication of what the president miedhiight say by trade. would he nouns a date or location for the trade deal? the answer to b of the questions was no, the president

offering no new scifics here but did indicate that a trade deal might be in the offing here is what he said. >> wraer we're the onesid dg whether or not to want to make a deal. we're close. a significant phase 1 tradeea with china could happen. could happen soon. but we will only accept a deal if it's good for the united stes and our workers and our great companies. >> the president reserving his harshest criticism not for the chinese government in beijing bu for the federal reser in washington which he says better get moving on negative interest rates. >> we are actively competingwito openly cut interest rates so that n are actually getting paid when they pay off the loan. known as negative interest. who ever heard of such a thing? give me some of that. give me some of that money. i want some of that money. our federal reserve doesn't let us do it. >> largely today, the president

using this formal setting for an economic speech to take a ctory lap of sor about the success of the economy during the course of his spt presidency, not laying out a lot of specifics about where things his term in office.emainder for "nightly business report," eamon javers in new york. in other news while boeing wrestles with fixing the g 737 x anting planes in the air it may comes no surprise gna new orders stalled pipt lasmonth the giant saw customers switch from the max to other dels, sending down shares more th a% after the runup yesterd. phil low bow has more. >> zbloog's most popular plane, the37 max has become a little less popular. in fact boein sass saw two customers opt out of orders last month. instead now wanting to buy other planes in the boeing catalog. despite the max cancellations

boeing'sacklog for the plane remains robust with more than 4,40 ordered.he and company now says it may resume max deliveries next month. sooner that than some on wall >> there's been expect aches the news was coming that the return to service was delayed. and news came they are absolutely not participating a delay beyond that it's gng to january. so they're revving up in december and expect to have planes glie flyinja in ary. >> the bigst question is whether the f.a. chl a admistrator steve dixon has the same plan as boeing. on capitol hill there are plenty in congress mo think the f.a.a. is too close toboeing. and needs to be tougher on the company before approving the max to fly again. dixon says that will not be a problem. >> dixon' o determination whether the max is safe to fly will be based not jt on the data and feedback of the f.a.a. staff but on his experience in the cockpit. as a licensed 737 pilot he will

fly the max with its updated software seforening off on whether or not it should be recertified. phil lebeau, nightly business report, chicimo. it' to look at some of the upgrades and youn grades. csx, ground graded to hold from buy at deutsche bank citing concerns over 2020 revenue and margin headwds from lower coal ess. pr the target is 74,he stockown more than 1.5% to 72.75. deutsche bank also making a call on kroger, tupgrading stock to hold from sell. the analyst cites growingsm optibout the company's digital offerings. the price at a tact are target is $27. the stock up more than 1% to 27 even. lich nation upgraded to outperform fro into line at ever core. the analyst citing the double digi growth and the ability to weathe economic downturn.

price target $73. shares gained an. fract and crowd strike upgraded to nierlt from sell at goldman sachs. e analyst citing the recently pullback in the stock the last month. e price target now $5 a. the stock rose more than 1.5% to 47.0s there new sbrant into the streaming wars. disney plus today madets debut. though demand was high, there were also technical itches. bu disney has high hopes for the product. one with a direct reach reach to the digit ad market. julia boorstin with more. >> reporter: disneylus is the media giant's biggest move away from the tv bundle towards the digitalirect to consumer future. disney plus for $7 a montana month or $70 a year has ten original series and two original films that launch. ong with $7500 tv episode and50 films from the flagship brand with pixar, marvel, "star wars" and national geographic. at disney looks to reach beyond

family was promos featuring the simpsons and avengers. they're investing for the long-term. i think that's smart. th get t massive base and as we have seen netflix raise prices when can they'll raise prices. it's this kind of amazon strate that everybody wants to put into play, which is, trust i us,is a long-term investment. there is a j-curve with highro up-f costs but paying off big. >> there were hiccups when the app launched at 6 "a" eastern. reported streaming errors. sney saying consumer demand exceeded the highest expectations. and was working to swiftly resolve the issues. since unveiling disney plus in april disney shares gained 18 petros while shares of netflix facingompetition and the loss of disney content have fallen some 20%. but today's launch isn't just about disney plu dollars with netflix and hbo

max. disney is looking to grow the digita advertising business. bundling ad free disney plus with hulu and espn plus both th ads for $13 a month, a $5 discount. >> i d't see it as zero-sum game. there is opportunities toop add we're in the beginning it's no where near taking stuff from netflix or amazon it's just growing the market. >> lu a competing with via pluto youtube and next year with nbc universal's peacock, all of thking for a bigger of the digital adarket whi disney projects to be worth over $50 billion by 2022. for nightly business report,ju a boorstin in los angeles. still ahead, upheaval hit one of the heartland's biggest industries. ♪ ♪

♪ america's largest milk prorucer has filed bankruptcy. dean foods has struggled in recentears as that industry changed and demand for cow's milk declined. companies in talks r tht now with dairy farmer of america co-op to possibly sell all sets. but until then, the future of this 94-year-old company is w filedh uncertainty. >> the nation's largest milk producer owns 58 brands names like dairy pure milk. true mao chocola milk. land of lakes butter and cream.ly's ice crime are while it plans to continue for now today's bankruptcy is the couple minimumation of a series of moves rocking the dairy industry. >> i regret to notify weust cease purchasing milk from your

farm. >> this small farm outside louisville kentucky closed this summer after dean stopped buying its mil the reason u.s. milk consumption? a steady decline down 26% over the past two decades. and prices areow lower n than they were ten years ago. dean combines several of the regional brands and launched the first national milk braai, pure. but the growi i interestn plant-based beverages like soy, almond and oat milk continued to eat into spaels. the world's biggest retailer. wal-mart began processing own milk two years ago, prompting dean to cancel more an 100 contracts with dairyrm s across eight states opinion and then grocery chain food line cut ties with dean lastear. dean executives say ty are havi advanced discussions regarding sale of the company to the dairy farmers of america. but the gloom hanging over the fullange of american farming businesses, pricing issues,

global trade turmoil and a labor shortage here at home it's not going away any time soon. let's t turn rick barrett to talk more about what's happening in the dairy industry. he has wri extensively about it the past 15 years at the milwaukee journal sentinel. the headline was temg. saying americans love soda abfancy water a fake milk. can the i dairyndustry keep up? what's the answer? >> yeah, it'soueen a time for the dairy industry. i mean, the good news is that more than 90% of americans still have -- i losty -- still have milk in the refrigerator. that's the good news. the bad news is about 40% they're drinking about 40% less than they did in the 1970s. >> all rick, as you get your ear piece put back in let me ask you, the other issue that dairy farmers have been facing are rising

and thosere external events that they really have no control over. >> well, that's right. i mean it's been aery difficult time for thispeop i mean, milk prices peaked in about mid-2014. and then it was a combination of things. was run away production and the exportts turned sour. and that's when things started to collapse. bryces just started on the n downward trend. >> but it anybody wisning in industry? is it just kinning to implode overall? what about wal-mart we mentioned they started t doingir own milk processing two years ago. and coincidence or not what's that's when dean lost money in this in. are there winners and lose zbleerscu it's been dif for dean because when wlormt opened the bollinging plant in indiana

that took away a substantial piece of business for dean foods. >> how do you see it playing out, rick? i mean, i know milk prices are going a bit higher. is that -- do you think that's the start of a trend? >> well we certainly hope so. i mean milk prices have been on the mend lately. they're a bitn higher t they were. and for 2020 it's looking better. w, the situation, though, is that milk prices even as they come up for farmers, it's taking a long time for them to dig a lot of the are behind on their bills. the debts he piled up up. . it's taking a while. strtruck me from your series of articles this fall is about the local dairy farmers in your part of the country. it is it getting better for t tm anye soon? >> we sure hope so. it looks like 2020be wil a little better year for them. but, again, it's just taking a for some of them, there's been

the balance sheet they might not be able to recover. it rick barrett the milwaukee journal sentinel thanks for joining us tonight. nk you. >> a warehouse fire hurts tyson earnings that's where we begin the marketocus. theaker of ballark hot dogs and jmy dean sauce ajs missed beef production famt but the ceo says pork prices are rising afr a shortage in china as the fatal pig virus is tightening supplies there. shares climbing 7.5% to ct8.88. y equipment maker rockwell automation beat expect being aches thanks to demand in the electricehicles unit. when automotive -- had a better than expected quarter. from the continued rise of me electricehicle production. and so electric vehicle drive train, the battery production,

the motor winding in those market for us.les is and we've have had some important business ere. >> and shares rose 10.5% to 198.01. cvs fell short of revenue estimates hurt by fall advertising sales following a nearly 20-day dispute with at&t. cbs stations darkth for mor customers because of the ct tv dispute. cbs shares fell 3.5% to 37.76. >> elsewhere home builder d horton topped expectations thanks to lower mortgage rates lifting buyer demand. the company raised the home sales forecast as a result. it also raised its quarterly dividend.shares rose about 3% o news to 54.2 after the bell online smile directpany club postmaed the first results since going public. topped the analyst revenue estimates. the company raised the full-year

outlook. shares volatile though in the initial after hours trading cling the session -- regular session down more than 6% to 11.08. as also aer the bell tilray reporting a 400% jump in quarterly reyou revenue. the ceo sees more growth in the global industry. >> the last year has been highly volatile. but there is pressure on the entire industry. what i'm excited about is that it's still day one in this industry if t younk about 41 countries that have legaliz for medical, i think that will increase to 80. currently there is only two countries in the worldhat legalized for adult use. that number will increase. >> shares were volatile in initial after hours trading closing the regular session down more than 1.5% to 21.57. one of the hottest sectors in real estate is seeing a strange chill. warehouseeasing is plummeting but not for the reasons you might think.

diana olick explains. >> the amount of warehouse space leased in the last three months was l hs thanf according to transwestern it's not lack of demand it's just so little toe. leas the boom in e-kmerps caused demand more modern spaces in ime locations to spike. developers are rushing in but not fast enough. >> increasingly what they're trying to do is findocations that are closer to the end delivery point. o as a resul that, they're facing increasing cg llenges findcations that make sense for them from a size standpoint, from a location stan aoint, fromost standpoint. >> tenants signing leases on properties that aren't even finished yet and developers building most new space on speck or without signed tents. in t last four years demand outpaced new warehouse b completion 169 million square feet according to cbre. and ren increased 19%. unlike other retail sectors ere outdatedroperties can be renovated and relaunched that

doesn't work for warehouses. ogistics companies need boxes. they don'tereed high clear height was manufacturing dices internally. they don't need cranes, et cetera. trying to repurpose the properties is very, very expensive. and oftentimes they're not located in places advantageous from aogistics standpoint. >> warehouse reits have been outperforming for several years. but now there is growing demand from private capital not only do more tenan want the spaces, more investors do as well. for nightly business diana olick in washington. >> coming up, big growth in the deep south. >> it isn't just rockets fueling growth here in rocket city usa. here ined stone arsenal, the sdi is undergoing major expansion, one example of the investment coming into the huntsville area. we have that story coming up on nightly busine

here is a look at what to f watch tomorrow. the federal reserve cir jerome powell wl deliver his economic outlook to lawmakers.n capitol hi dow component cisco reporting earnings, the folk on what the company says about business spending. a senate pan holds hearings on the outbreak of lung illnesses linked te-cigarettes. and that's what to watch for on dnesday. wall street bonuses set to go down this year. accordingo a new report equity traders faring the worst with a decline as much as 15% compared

to last year. and debt and equity underwriters coul see a 10 percent reduction. despite the healthyarkets they say banks are focused on cutting costs as competition nissan cut the full-year outlook following then0% decline earnings. the auto maker now expects to sell about 5% fewer cars thannt initially aicipated and said the dividend could be, quote, revived. the company has been facing slowing growth abroad and struggling to move on from the arrest of former chairman carlo. gh >> the aerospace and defense industry is entering a new era. an it's making a ver big bet on a place far from the pentagon. morg brennan as you saw huntsville, alabama for us f tonight. ♪ it's calledocketit usa. home to one of the highest concentrations of engineers per capita and educational system

teaching s.t.e.m. starting in elementary cool and long substantial standing ties to aerospace and the feds. >> we have legacy. our aerospace heritage we work hard to maintain that. we have about companies in our market. so very rich concentration of them in a lot of expansi in that. >> and the emergence of commercial space is only helping to proposal. jeff bases o blue origins i building a $200 market rocket factory ivi hune and taking over the nasa flight space rockets that launched astronauts to the moon. >> it has the greatcl recep of talent you can tap into. it's been decades in building. w ted to go to where the talent is. >> there's been a boom in defense work as well.ic hypers or missiles traveling at mach 5 or faster helping

aerodine move to the area. and lockheed martin broke ground upon a hypersonic facility outsidehe city. >> they're trying to become the innovation hubthe south with artificial intelligence and other technologies quantum computingr space fashan hypersonics. all of the technologies brought together with ai. >> that combination on the area as deep roots in s.t.e.m. have attracted other industries. >> polaris90pent $1illion to open a factory here three years ago, assembling sling shot and ranger vehicles. the ceo says it was an easy cision to make. >> i think the longstanding been in huntsville for so many s years since world war ii, really, and thn w the red stone arsenal and the army saturate com as well, there is a good infrastructure of personnel. >> and por arris isn't alone. e., toyotaen mazda, even facebook having making

investments pmt even the fbi is busy expanding what it calls an hq 2 on the army's red stone arsenal. from 2000 to 2017, the huntsvilleetro area grew population jobs and wages all at roughly two times the national rate. and at a time of low re it's a stunningly low 2.1%. a non-profit biocollective focus ds on again oemicesng it includinger issena therapeutic developing a polymere technology that couldnt change treatme for parkinson's, epilepsy evenio addiction but it comes back to space. >> i love the fact that i have real rocket scientisting in my lab now because they've come from that industry to work here as well. >> forss "nightly report," i'm morgan brennan in huntsville, alabama. and before wego, here is one more look at this unusual day onst wall et.

the dwro closing the session unchange at 27691. the last time that happened was in 2014. the nasdaq was up 21 and the apnea fiefd add 4 points. >> ip don't know about you i think i'm going home and drink a glass of milk. >> i have to d my duty as well. for that industry and the state of witness o wisconsin.bu that's "nightlness report" for tonight, i'm sue herera. thanks for joining us. >> i'm bill griffeth. have a great evening.. see you tomorr ♪ ♪ ♪

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