♪ >> announcer: this "nightly w business reporh sue herera and bill griffeth. dow 28,000. the three major indexes closed the week at records as a rush of euphoria hits wall street. bold bets. with the market at all-time highs, our market monitor has a list of stocks that he says could climb 30% over the next year new prognosis, the white house wants to force hospitals to reveal the price of car so that people can look for better deals. and theector rallies. those storind much more tonight on "nightly business report" for friday, november 15th. good evening, everyone. and well. the bulls are out on wall street. the major averages csed at

records. the dow 28,000 thanks to optimism on a trade deal, ral in health care stocks and uppete report on retail sales, an indication the consumer which has been powering the economys still strong. here arenghe clo numbers. the dow jones industrial average rose 222 points, to4. 2800 the nasdaq up 61 and the s&p 500 added23. the sixth straight weekly gain for the s&p 500. the longest win streak for that index since 2017. bob pisani takes a look at what to make of the bullishness. >> another day of record highs. the s&p broke out of therading range into record territory, universityia is growing and pretty fast frankly. a number of technicians have but notust the chartists ently feeling good about the trends. eventrategistnd everyday retail investors are getting gunning hoe on the market. barclays for example s that small caps are at a turning d

point and poio outperform. morgan stanley also saying a key rotation from growth stocks to value stocks is beginning. even the average retail investor is getting bulled up from the investment sentiment survey from the american association of individual investors. high levels of bullishss. why is everybody excited? chalk it up to a combination of a neutral and supportive federal reserve. better global growthoo ou for 2020. but remember the seasonal strength and hher hopes for eventual u.s.-china trade deal factoring into the equation. everybody thinks that fomo fear ofng misut is causing institutional players to buy in eier.e end of the only thing throwing a wrench in is the trade deal with china. bmo capital noted my on wall street are habitually late to the party. he said people get bullish after the market he thinks the is some false in

the market as everyone chases performance into the end of the year. he has a point all the euphoria would be great if we were coming off the big selloff.but we are not. stocks at new highs. breadth strong. president market looks a little frothy right now. for nightly business report. bob pisani. asue mentioned stocks got a late day f liftm health care stocks after the tru administration released a plan forcing hospitals and insurance companies to disclose the price of their care. th st shares of insurers like antingive united a health sigia that. ten et and hca holdings also rallied. bertha coombs has more details. >> the trump administration's new transparency rules would require hospitals to publish insurance negotiated prices for some 300 proceduretarting in 2021. the president arguing the move will give patience more control. and the transparency will help push system prices lower.

>> thisill allow you to see your out of pocket costs and other vital pce information before you go in for treatment. so you know what it's going to be and beotble to have of choices. >> four major hospital associations vowed to take legal action to stop the new rulesar ing that publishing the negotiated rates with insurers willsie too con for consumers. the policy experts say the rules aren't a onnerous as feared. >> the penalty for not revealing the information, $300 a day. and in the whole hospital industry it's a few hundred llion dollars. that's in a industry that makes $1.3 trillion. you know, ignoring in executive order is not going to be very painful for most hospitals. >> in t meantime insurers argue that publishing the negotiated rates wouldake i harder to drive a bargain with consumers.to lower costs for >> the worry is months won't reduce the price. one hospital in the city will

look across town and say his getting more. >> for investors, the news and potential impact of theules clearlyot seen as bad, as some had feareder earlier this year. the&p 500 health care sectorg hittnew record high today with strength bh in hospital and insurer scks. and health insurers now up 20% over 7 straight weeks of gains. for "nightly business report," i'm bertha coombs. retail sales rebounded in october. sales increased nt0.3% last lifted by car purchases and higher gas prices. reversing september's decline. but consumers did pull back on big ticket householdtems and clothing. experts say that could temper holiday shopping season.rong so joining us now to talk more about retail sales a the consumer is michael lassar. retail analyst forwe ubs. ome, nice to have you here. >> good evening, bill and sue thank you r having me. >> are you worried? theeport was better than a lot

of people thought it would be. are you worried at all about the sullback by crs on the bigger ticket items and clothing? >> no, not. i think the skierm is on good footing as we merge into the holiday season. wages rising and unemployment is roe low. three rtant foundational rivingts of what should consumer spending over the holiday season. >> winners and losers into the holiday season here, and i'm curious your thoughts on the departmenttores themselves, and which category they fit in right now. >> well, you know what i would tell you is thats apparel difficult category. we heard when wal-mart reported yesterday they noted apparel waa ana of weakness, in part because of the uncooperative weher. it's been a bit warm up until recently. >> aright. >> aa result people haven't been buying apparel.

the winners will clearly be those with effective omni channel offerings. one of the notab points from the retail sales report was that the ce-commercennel does quite well. that's that can blend the good instore experience and the robust omni channel experience will be well positioned for the holidaulseason. >> s consumers expect a lot f discounting or promotional things? i mean, they're pretty used to that. >>el absol and, sue, it's a good question. because a lot of the retailers have brought in heavy inventory levels ahead of the tariff uncertainty. that coupled with the fact that the holiday always tends to be promotional. you should see heavy discounting throughout theext fewweeks. >> i'm curious about home goods as wel seem to be doing well and specifically of rh used to be calledestoration hardware, whichow has a big fan in berkshire hathaway. well all of a sudden?r, >> it's a good question, bill.

you know, home furnishings is a sehat consumers are interested in because the housing market is very stable. a it's ana that consumers choose to ctinue to invest in. it's being impacted by the tariffs. o. we heard tha mr. players like way fair issues far. but nonetheless we expect tha home furnishings will be stable threw the holiday season. >> michael lassar from ubs, michael, thank you. >> thank you very much. and in the news tonight, day 2 of the impeachment hearing on capitol hill traders on wall street have been watching the testimony of former ukraine said she was removed from her post after what she called a ncerted campaign againer. reaction to her testimony pretty much followed party lines, ranging from compelling to irrelevant. >> the democrats running for the party's presidential nomination ar trying set themselves apart. we hear a lot about the progrediive ctes and economic platforms.

medicare for all. wealth tax and but what about the moderates? where do they stan we asked kayla tausche to take a look. >> reporter: while the progressive darlings of democratic party stole the headlines. >> it's time for wealth tax. >> a medicare for all. >> a handful of candidates led by vice president joe biden, south bend mayor pete buttigieg and minnesota senator amy klobuchar are not so quietlyvy g for the moldenhauer vote with lower price platform to apal to the wallets of the middle class. arguing health care doesn't nd to be run by the government. >> we can do that without medicare for all. we can do that by havg the public option. >> expanding some government programs but leaving private options available t. the way i would do it is to make sure that the choiceests with you. we're thought going to kick you off your private plan if you don't want to be kicked off your private plan. because i trust you to figure out the right plan for you.

>> they all think higher education should be free for some that more student debt should be forgiven than currently but not all of it. and to pay for it roll back the corporate tax cut and raise taxes on certain income brackets and investments. obuchar say progressive candidates are ob securing the impact of that on ordinary people. >> we have big problem with debt and it may not affect you guys but it wil affect kids and grand kids. i want to show how i'm paying for things as we move forward. >> buttigieg supports taxes unrealized capital gains on the top >> we certainly need to consider a higher marginal tax rate for earners. e >> biden says closing some loopholes could add up. >>liminate one tax loophole, calltepped up basis. only $17 billion for the governme. eliminatethat, could put every single solitary person qualified for community college in community college for >>free. those messages are resonating

with some democrats in early voting state polls this week in new hampshire and iowa show biden and buttigieg in theead in those respective states. the leads are nairo with warren and sandersot far behind and two months to go before the primaries. for "nightly business report," i'm kayla tausche in washington. time to look atome of today's upgrades anddowngrades. beginning with shares of grub hub upgradedooverweight from under weight at barclayse citin osition as a dominant brand and groh as a result. the stock up 3% to 39.79. qualcomm upgraded to buy from neutral. the analyst citing the rampup of 5gt over the n two years in 2020 and 2021. price target an even $100. shares rose a fraction to 90.81. and nvidia upgraded to b from hold at craig hal up.

citing the strong third qua results. price target $255. the stock fell more than 2.57% to 204.19 following the earnings that were reported lt night. still ahead, rememberer worldcom's ebbers. why he is seeking early release from prison. ♪ ♪ ♪ amazon plans to ptest the penguin award of a $10 billion cloud computing deal to microsoft. last night thess company exp concern that the decision was based on politics and not a fr contracting process. as we repted last month, microsoft beat out amazon for

th joint enterprise defense infrastructure cloud project, otherwise known as sjedi. eaming serce hulu hiking price are to the second time in less tha a year from $44.99 port 54.99 per montan co says the new price brpt reflects the substantial value of the servist. month at&t raised the price of the tv nowexervice to $65. rts say it's the latest sign that providers are having trouble making money on discounted packages that rival cable. and as cord cutting picks up steam, media companies have ao plan battle back. here is julia boorstin. >> media companies are pulling out all the stops to fight the growing cord cutting threat. paid tv subscber declines skrermted to 1.8 million last arter. the third consecutive quarter of over 1 million subscribers lost. at&t owning direct tv is ufrg is

the most losing 1.1 million video subscribers last quarter, nearly three times theea earlier los. >> the biggest factor on acceleration the past iuarter a confluence of new options available to consumers, most driven by newly emerged s subscriptivices most of which are effectively free to the consumer. so as a result when you look at a person's time more and more of that time can be spent on a subscription service and on options available over the top. >> but while skurms dop tv bundles they need faster broad band or mobile internet to access streaming services. and that's where these med giants are focusing. at&t growing its wireless customer base faster than expected lastuarter. whileca com high-speed internet customers grew at a record pace. the best third quarter in a decade. now comcast calls brad band not video the fndationf the customer relationships. in addition to selling the pipes, media companies have

three ways to p into the shift streaming. first of course the wave of subscription services such as sney plus and hbo max. second selling content to extremers. as viacom nicol owed yan totf x. and third digital advertising on streaming apps. >> i believe theupiers will continue investing in the free ad supported services simply because the subscriion marketplace is crowded at this time. butill the consumers actually gravitate to consistent usage of the services? that remains a big question mark. >> concted tv ads such as those on hulu or roku are expected to grow 40% this year to $7 billind to double in four years according to marketer. while hulu's is disney's bet on the digital ad mechanic. nbc universal will launch its add supported play peacock next year. for "nightly business report" 'm julia boorstin in s francisco. julia mentioned comcast in her story. as you know, comcast is the

parent company of cnbc producing this program. > t-mobile ceo is reportedlyg goo stay put. that's where we begin the market focus. asy first reported cnbc, mobile's skeeve executive john lerj is not taking the top job at we workla as sped early in the week. t-mobile is waiting for the acquisition of sprint to be approved by state attorneys general around the country. t-mobile shares ros more than 1.5% to 78.07. >> strong online sales helped alibaba chief rival in china jd.com top wamz expectations. the chinese baseder it company has maintained solid growth in the industry despite the ongoingh trade war w the united states. shares fell a fraction to 33.5 a. d jcpenney reported a smaller thanos expected as it sold more diamond jewelry and denim clothing in th latest quarter. retailer did miss on revenue estimates. but it raised financial y look

for the whole fiscal year. shares gained more than 6% today to $1.17. united airlines is the latest carrier to extendgr .ding of the boeing 737 m united's schedule returned date to pushed to early march, the similar time frame t both american and southwest. united shares fell a fractiono 92.51. and the world's largest stuhr buc opens doors in the windy city. the chicago store is five storie a highovers aboute 35,000 squar feet. edging out the tokyo location for the top spot. fraction to 84.21. re down a time for thear weeklyt monitor who has three names he believes will grow as much as 30% ov the nextyear. this is the first time on the program we welcome davearden the president and chief investment officer at summit global advisers.oi thanks forng us tonight. and welcome. >> thank you, bill. glad to be here.

>> a couple of the names are household names. and they've done very well this year starting with you're expting a 30% gain. it's already up t much this year alone. what's propelling i higher. >> it's didn't very well.s you know, t a company that really fits into our baskets really -- just our portfolios love this. love outstanding companies with little t know downside risk, surprises. we really like to own outstanding w companiesh the leas surprising microsoft has a great management team. they're executing. ey were late to the cloud t but with jj.e.d.i. being awarded they are executing very, very well. . and a going to the bottom line. you have about $136 nllion cash. they're returning it to the shareholders in a good dividendh almost as s the 10-year. and so great company to own with a lot of upside potential. >> next on the list is zoetas and as a dog owner we spent a lot on the pets.

well posd with their ery much animal health line. >> you know, they'vee beche market leader in this space for animals. and we do love our pet and pets are a lot less political than the bio, and everything else out there. with your animals sioux i know you have a few and mine. this is something we e willing to spend on with a lot less rink from the standpoint of other health care compani i like this. they have a lot of room to grow. team.anagement and thehave done well all these have done well. but, again another outstanding company >> and then you have wal-mart, of course the number o retailer good looking earnings yesterday. but again this is another stock that had aea stellar and you're specking another one next year, i guess. >> well, wal-mart is one that let's sayoe the economy't do as well with. they actually incased their volume. they pick up in the downmarket in the up market where the consumer is doing well, they grou over 40% on online sales.

groceries are doing well. as people go to buy me groceries they are picking up shoes. it's a great story and we know it well. this is a big market. they have a lot ofoom to grow. a lot of online to cover. >> all right. very good. dave harden from summit global investors. again, thanks for joining us,da . you're welcome, thanks for having me again. well, he presided over one ever the biggest corporate frauds of all time now halfw through the prison sentence. bernhard ebbers wants to go. fr even the judge sening him says he has been punished enough. but has he? scott he cohen has the story. >> his pme k as theco tem cow y, big wi, bold, brash and loud. the new company which will be called worldcoms uniquely equipped to develop andke mart communications products and services that are growing the

fastest.ta internet, wireless, local, and international. >> bernie ebbers turned ama mississippi long distance company into a telecounications behemoth. worldcom's expsive growtnd keter frantic efforts to keep up helped give rise t wthe internet no he it but asnet turd out it was built on a lie. $11 billion in accounting fraud, allegedly orchestrated by ebbers himself to keep the illusn of growth going. >> we are goingo come up with the ball. and we are going tos right t effort like we never have before. >> he claimed he wasn't a numbers guy, that t fraud was the work of others. >> what happened is notnything really differentiate than a lot of other people, other than if it ends up bhang true there is a lot of accounting issues. yoend the facts on that. i haven't been privy tof any that information. >> but a jury didn't buy it. convicting him on nine counts in 2005. judge barbara jones imposing

what she acknowledged was a lifn sent, 25 years. but now 13 years after reporting to prison, ebbers now 78 wants out. according to court filings he i, blas heart disease, has withered to 160 pouss. daughter says she fears he only has weeks to live. even judge jones now retired says he has been punished enough. nbut prosecutors i new york saye that life sen should stand. prison doctoai haved as recently as this summerhat his condition is not so dire. a new judge has asked to hear from worldcom victims and asked to hear more medical data. ifhe doesn't set him free he is not due f release until 2028 if he lives that long. for "nightly business report," scott cohen. coming up, t rental market is red hot in manhattan. even those s with high top ♪rice tags.

♪ next week theng hou market will in focus. and here a look at what to watch. day we hear from the home building industry about now optimistic they' on future orders. on tuesday a report on housing starts will indicate if grounde ng on new construction is pick up. ing home salesxi for october are due. and that is what to watch for next week. but finally tonighthewe talk about real estate, manhattan is literally an island unto itself. of rules and prices even in the luxuryental market. robert franke is in new york city for us tonight. >> luxury real estate sales f he beling in hasn't for two

years. but the wealthy who are notbu ng are renting and that's created huge demand and huge prices for luxy real estate rentals. 4% this year at the very top p it's almost four times that. while luxury sales prices are down 10% this year. so why would people who can afraid to buy choose to rent? new h taxeseade owning and buying more expensive. the mansion tax on sale, the new cap on state and local taxesnd renewed t about a pieta tierra tax on in new york wealthy buyers are opting to camp out in rentals until purces fall fer. and with the oversupply of luxury apartments, sellers are opting to rent to at leastt collec some money on units that are lange wishing on the mechanic. the deman has led to a new estate. in mttan real $100,000 a month rental. an apartment at 15th central park west rented for $125,000 a

month this spring. and this apartment on leonard street downtown can be yours for $123,000 a month. it's got 6,000 square feet, six bedrooms, four and a half baths, 14-foot ceilings and a 56 stories high views of all of manhattan and both rivers. >> sples people want t try out the neighborhood. they want to try out to see if it is a building that they necessarily like. other times there is people that only want to be in manhattan for x months or one year at a time. >> now the owners of this apartment who bought it back in 2016or $30 million have received offers for short-te rentals but they want a year long lease talsing $1.4 million to rent. sky high views at sky high prices. more "nightly business report," i'm robert franke in downtown manhattan. >> wow. before we go, here is another look at th day's final numbers

on wall street. the dow rose 22 points to close above 28,000 for the very first time. speaking of sky . and the s&p 500 added 23. gain for the s&p 500.ht weekly index since 2017.eak for that and on that note that does it for us tonight i'm sue her aifr thanks for joining us. >> happy birthday, my dear. >> thayou. >> you young whipper snapper you. >> i wish. >> i'm bl griffeth. have a great weekend everybody. see you monday. >> thank you. ♪ ♪ ♪

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