. ♪ >> announcer: this is "nightly business report" with sue herera and bill griffeth. stocks roar the economy creates a lot more jobs than expected, sending unemployment to a 50-year low and thearket surges. >> deeper cuts. contentious opec meepgt results in cutn in product designed to prop up a troubled industad. >> hair day meet the entrepreneur who wants to make that athing of the p by shaking up the shampoo aisle. >> those stories and more tonight for friday, december 6th. >> good evening and welcome. the bulls i control of wall street. investors cheered the stronger than expected jobs report. a report that bolstered confidence in the world's largestmy. the rally was broad, energy,

industrials and finan aals rose. dow components goldman sachs, jp morgan a and nike touching 52-week highs pushing the dow above a 28,000 with gain of 337 points np. the nasdaq added 85 and of the s&p 500 up 28. seema modi spent the day tracking the action at the new york stock change. >> stocks were off to the races after a blockbuster jobs beat day with the dow, s&p and nasdaq all sitting in rechid territory. call it a trifectaa of positive news beyond the strong jobseat trade optimism blding again after china said it will waive import tariffs on some u.s. soybeans and pork raising hopes of a possible u.s. china trade deal b reachedore that december 15th tariff deadline. and consumer sentint datan november hitting a 7-month high renewing confidence in t stronger consumer narrative, the market bulls have been baepging

no surprise, a number of retail stocks along with other economically sensitive groups like energy and financials did well today. goldman sachs, nike and apple and 3 m led higher 3 m rebounding from the o lows talk that it plans to sell the systems unit for $1.0 billio a according tloomberg report. the market rebound stepped up small caps with everything else. the russell 2,000 hit new highs but mass a ways to get to record level levels. and the stakes high into the negligence week. the catalyst to watch. k th policy meeting from the federal reserve, the uk general elecon and the looming tariff deadline next weekend. for "nightly business report," seema modi at the new york stock exchrege. >> if tas any concern about the consumer this jobs report erased those fears. here were the numbers. the economy adding 266,000 positions last month. well ahead of estim.

the unemployment rate fell to 3.5% matching the lowest level since969 andages rose. now that's critical because consumer spending has been of course a driver of economic growth. ylan mui looks petition employment picture now. >> america's job market roars th blockbuster hiring in november that beat investor expectations. businesses brought on the most workers sinceanuary. and that helped push down the unemployment rateo 39.5%. returning to a low the country hasn't seen in 5 years. workers are also enjoying higher wages, average hourly earnings jumped more than 3% to 28.29. >> the wams at the bottom are actually growing faster than the wages at the median. so ifou look at the bottom 10 percentile, the people earning in the lowest 10% of the country their growth has been twoo three times as high as median. hasn't happened in a long time.

>> for president trump the strong economic data was welcome news amid all the political turmoil in washington. >> the marke is up 325 points today on great job numbers. the numbers have be phenomena actually some people said. so spot on, so good, that they've actually never seen anything like it. >> but economists say tradeav tensionsbeen weighing on growth. and some argue tariffs have erased the benefits of the tax cuts. >> i think we saw it fall short of expectations and actually fourth quarter gwth was revised down to 2.5% so got nothing out of the taxuts in 2018. >> but there were some surprising bright spots in november. manufacturing rebounded adding 54,000 jobs. it was a biggest jump in more than two decades though much driven by the end of the strike at general motors. there health ca appear leisure and hospitality industries added 45,000 and retailers recover adding workers for the third

minute in aow. for businesses and investors, the question now i how much nger can that run last? for "nightly business report" ylan mui in wadsington. >> l piagza talks morp about the upbeat jobs report the chief economist at stifle. >> thank you for having me. >> i think this report certainly validates the fed' latest stance, does it not? >> well, i think as we look just at thi mornins number it certainly paints apo pretty tive picture of a relatively rehe robust labor market and does support thefe s presumed position notify to the sidelin looking atext we can's fomc some of theport was a one off return of gm workers but we saw widespr gains across health care business services and even manufacturingn neral. but i do think that there is still room for caution here. when we take a longer term

this morning's report while positive doesn't dismiss some of e earlier anemic trends we saw in hiring for the better part of the past while this morning'seport certainly was enough to support a run up in the equity markets, there is still some concern that marketabout theor going forward into the new year. >> which sort of leads me to my question, i'm curio to know your answer to the point that ylan mui made at the end of the package how much longer in tight labor market can last. e and whands it? does it peter out? or what happens do you think. businesses are still very that hesitant to take on a verybu level of long higher wage employees. we a seeing a heavy reliance on part time and gig employment. this is a theme for some time also a renewed reliance o

artificial technology acting to replace some of the need for additional labor in the labor market. a lot of the ongoing themes are going to slowly weigh on workers, additiona employees.nal also, the other thing i wanted to point out as we talk about the unemployment atsz low level it doesn't account for all of the t workerst have been displaced from the labor market. that are still sitting on the sidelines and when we add themc in we are talking about pennsylvania higher unemployment rate situation in this >> and what about the situation with trade? at what point do you think we will see a decided impact? we have see some companies talk about lack of business investment because of certainty. but do you expect the trade war if if continues like it is now to have a big a impact? >> i think it's having a compounding impact, absolutely. the longer we see the trade and tariff war extend, the more negative thempactbecomes. a lot of businesses were able to

stockpile materials. and supplies at the start of the year. in anticipation of the barriers to international flows of capital and g but as this pro longs businesses are now running through the stock piles and having to either come up with ways to find other materialsther sources other suppliers or simply absorb the cost increases which is eating into many dp bottom lines. >> lindsey with stifle. lindsey, thanks so much. >> thank you. > by the way, this is also the time of year when holiday hiring big retailers had plans to add about 790,000 seasonal workers, marking the second year of growth and muc due t amazon which is set to hire 200,000 employees all by itself this season. that is double last year's number. and its allies decided to deepen oil output cuts. in follows a sudden cancellation of yesterday's press conference, a rare occurrence at the

meetings. the decision helped prop up the price of domestic crewed t a hope is that it will help an industry under pressure. brian sullivanep rts tonight from vienna. >> two-day often contentious opec meeting come to a close in thena, austria wit decision to cut oil output more reacted positively on the news.l after a lengthy discussion seeing no deal thursday evening, the ministers plus russia and other omonn membersoming together on frida hammering out a deal to cut an additnal 500,000 barrels a day from the production. they had come into the meeting at 1.2 million. add 500, 1.7 million what moved the market and see the saudi underproducing 400,000 from their quota agreed voluntary to continue that. the market effectivelyie vwed this as 2 plus milli barrel per day cut.

and that beauyed the pris. because so many having strgle under the weight of loie oil the other big new the massive saudi aramco ipo,ricing at the high end of the range giving the company a valuation of $1.7 trillion. trading officially next week in riyadh. at the press confence we had the chance to address the saudi energy minister one of the sons of the king about a themco ipo and said it was a proud day for him and country >> raft night was a proud day for all of us those working on that deal and members of -- i'm glad you brought the issue. we've been battered by the media. as if we are going to be toted around buy a piece there all the motives. he talked up investor demand

saying about 450% oversubscribered for the ip or, more buyers than available stock and he believed the aramco could beore than a $2 trillion company very soon. theng it about double market cap of apple. for "nightly business report," brian sullivan, vienna,ustria. >> time loo atlantic ocean look atndpgrades and actually n grades tap evidentiary the parent of coach and ke spade downgraded to inline from the outperform at every core isi site citing the threat from the growing preowned handbag market and the pottial for sneakers fashion accessory.gs as hot price target, $25 despite that it rose with the broader market to 25.53. anthem wnaded to neutral from buy at bank of america merle lynch. yieting the outsized exposure to the exertion business.

the shares fell a fraction to 285.27 arts and crafts retailers michaels was downgraded to wheeling weight at stevens citing the quarterly results. the price target is $7. but investors bru ted off and s 10% to 6.69. sienna downgrad to sell from neutral at ubs. expectations are t high.onal the price target is $31. the stock fell 3.5% to 35 even. stale ahead portfolios protection pennsylvaniaist of names our market moronta says should to well no matter what happens with the trade war with ♪ ♪

♪ ♪ ber today issued the first safety report detailing safe incidents that have oh occurred on the platform in the past two years. the ride hling company had reports of more than 3,000 sexual assaults during rides la year. nine murders, 58 people killed in crashes. but the company was quickpo to t out that those numbers represent just 0.003 of the lln rides in the u.s. in 2018. comparisons with similarbu nesses by the way are hard to come by. the new york police department counted 533 registered sex crimes and rapes on its transit former vice president joe biden released a new tax

proposal which we told you aut yesterday. in an interview with john n harwood he sa policies are needed to address increasing income inequality and discussed ee impact of the trade war on thenomy when john asked him tariffsuld remove the should he become the next president. >> the tariffs come offer in terms much farmers but the oer tariffs may go on in terms of the violation o stealing of intellectual property, violating wto rules, world trade organization. tariffs are creating agt uncertainty harming the economy you think some are justified. >> wellorexample, steel dumping is justified. it's justified, the eess of steel they dump at lower costs. it's designed to drive down mur steeket and steel production. but thedea of us -- making the farmer pay for what they've worked likell to do, provide and have a market in china makes

no sense. it's not about -- it's not about the -- it's not about the deficit what it's about is what they're doing unfairly to change world trade rules. >> f themer vice president also said that he is in favor of ans financial ttion tax and opposes the balanced budget amendment. a big gain for big lots w that's whe begin the market focus with the closeout retailer reporting narrower than expected loss and better than expected revenuhe thanks in part to sale of the california distribution center and a strengthening balance sheet. big lots ceo also saide sees significant improvement next year and gnat fourth quarter in year is off a solid start. and that sent the stock up more than% to 25.21. ai squeo reported better than expected earnings and revenue. the shoes andes aries retailer raise the full-ier outlook and added that the sales the black sales through sieb ebb

monday were solid another gainer soaring to 48.8ty indemflicks's the irishman attracted more than 13 millioviewers in the u.s. during the first five days of availability. falling short of the scompan best performing movie title bird box. the numbers released by nielsen. netflix has not released viewership data. shares rose more than 1% to 307.35. efrmts. investors got the first chance toct r to american outdoor brand, the parent company of smith & wesson toppee the wall earnings estimates and saw revenue come in above expectations. the compa also raised stabilizes.utlook at gun demand shares fell 2.5% to 920. time for the weekly market monitor, the names of three defensive stocks that he stays should minimize exposure to the u.s. china trade war. the president of fbb capital partnering thanks for joining us michael. >> thanks for having me.

>> start with united health clasefcsive play has nothing to do with the trade war. and it's a good r the last few months why do you like it. >> domestic defensive and services. and united health is definitely in that wheelhouse. stock has a nice run the last couple of months. but it's basically until six weeks ago was flat for t year. trades at abo a market multiple. we expect earnings to growth in mid-seens the next several years. >> and next we go to a energy play. next era energy. which is has a utility footprint but it also is dominan in wind and solar in its particular markets. >> yes, this is -- jobs numbers were high, where a gat and a good job market people move and a lot of people are moving to florida, s. and net era energy is the old -- contained the old florida power and light. they have a great footprint. and they're also big in wsod and r as you mentioned. >> and then finally, atmt trustd

in it's had a good run the last few years.ec stumbledtly but i guess this is one ever those somebody has to do it kind of businesses. >> somebody has to do it. if you you are likeov me and recently in the last few years you realize you have more stuff than you do agst the storage facility operators do well. and extra spa is the one we like for clients. who are kind of dividend minded, all three pay a nice dividend and the dividends growing for allhree in the double digits. >> excellent. what do you feel about the overall rket, mike we had a triple digit gain in the dow. ve had volatility certainly much linked to trade. but overall it sounds likere yo finding opportunities and value in this market. >> we are. and t the with the three companies is whatever happens with the trade war or tariffs these are not manufacturing exporting compa es. tease are staying home as a home bias here. going to we expect all of them

to raise earnings next year. and stock follow earnings over time. if you can find the companies where earnings are r growing, fews are growing getting more efficient every year, then we thtek that will p investors if there is adown turn. but sue, to your point. >> sright. >> jre high. unemployment is low preponderates are low. you know, you could see the -- the path of least resistance is up. >> very good. mike muzielith fbb capital partners thanks, mike. >> thanks, guys. coming up a base rate idea that's now a successful business where one size does not fit all. >> our mission is to make beauty. celebrate every single customer's uniqueness.

♪ ♪ certainly made to order works fine in restaurants. and if yew have a bucks to spend, maybe can you splurge on custom made clothing. but can it work for other products? mass manufacturing tends to be expensive andaw wastes materials. but one m.i.t. engineering in new york city got the bright id to make personalized shampoos and conditioners for each customer, because after all no two heads of hair are alike. >> well, that's cool. >> six years age zahir had a doctorate from mit turned down a consulting job and made money subletting apartments while dalk in start-ups and pos doctoratework but the family was alarjd larmd by the lo lax of direction. >> i was the golden chieltd went to mit and a had a ph. no idea what to do in life. >> he turned the grad school

project into a small business selling skincare but found himself fstrated feeling the goods didn't stand out in the marketplace. he asked his customers how t perfect them. >> every person said something different. >> that got him thinking. >> t only way i could possibly solve every one of the people's problems if h made a separate sham beau and conditioner and body wash and body lotion just for them. >> psonalized hair care products? invidualized for any combination of curly or straight hair? whether you want help with shine or hair strength? but how? mass production? too costly. co wasteful. to dosssa asked another college buddy what he ought. >> h laughed a ton, raemzed how serious i was. by the enof it i think he, like -- he realized this could be something. >> to turn it into something, dhasa consultwood he and cap

lun, chemist foorming his a cofounder and helped make the algorithms to for the mix that made the results. 24 million different illion or possibilities, and 12 billion now it's 54 trillion. >> of the 54 trillion possibilities function of bout has made and sold more than 2 million sips it went live online in 2015. they fill bottl by hand at first. but nowrything is made to order in the automated dwechld. nia facility ma jessky >> we started the first hair >> cus take a quiz mequiz. providing a quick description of the hair and choosera a fre. >> this is the best selli >> and theyick a color a name

forepersonized bottle and size. a setf 16 ounce bottles of shampoo and conditioner costor 49 not cheap but dhasa says it's not expen for a high-end product. >> they are argue the most market.ve formulations on the eality it's just the cost of ingredients that's the highest price point in the products. >> this year function introduced a hair serumai and mask, also personalized mixtures. not only to create a full line of products but also demonstrating how quickly personalized manufacturing can adapt and grow. >> we can put any liquid in a bottle, whether we have 500 inputs or 10,000 inputs. there was a big debate process is personalization a niche or norm? we're in the big of mae it making it a a norm. >> function of beauty has grown to 204 locationsn new york, pennsylvania and michigan.

he says doing manufacturing and avoiding retail distribution chanlsh reduces costs enoo make it a viable business. >> and before we go, at ther looke day's final numbers from wall street. we saw a strong rally on the jobs report. the dow rose37 points to close back above 28,000. nasdaq added 85. s&p 500 up 28. that will do it for "nightly business report" thaor joining us. we liked to remind you this is the time ofear your public television station seeks your support. >> i'm bill griffeth. thank you for the support. have a great weekend. we'll see you monday.

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