l>> this is "nightly business report" with b griffith and sue herrera.o >> santa, no rallies. stocks were quiet heading into the holiday, but as the season of the santa claus rally kicks off, what dose trading days mean for investors in the new year? final push. it's the m lastute shopping rush for the holidays. which retailers are the big winners this season? and going for growth. what growth may be a i winner 2020. all that and more tonight on ightly business report and we do bid you a good evening, everybody, and welcome, sueas the night off. twas the night before christmas and all throughhe street nary

a bad word was found, not even . tw investors allatched the market with care in the hopes that st. nicholas s would be there. alas, there was no rally, bri it's all t. because compared to last year, calm was ame wel sight. apologize to clement clark moore, but investors might well had been relieved tre wasn't the same turmoil we saw last christmas eve when the dow fell more than650 points and the s&p briefly entered bear market it tey. today in our holiday shortened session, the dow fell just 36 points. nasdaq climbed another seven to close at its ninth straight record. that's the first time that's happened since 1998. the s&p 500 was off. what a difrence a year makes. >> reporter: this time last year, the dow was closing on the what made the difference? a combination of four factors, the fed cut rates and added liquidity to the market. economic data has been strong to

indicate no recession. third, hopes for a truce on the tariff and trade wars and the global economy may be botts&ing. is up 28% this year, but the ten largest stocksre up an average of 40%. apple is up 77 microsoft is up 55%. only amazon up 19% has underperformed this year. what's next? me are arguing the markets are expensive given that earningsat have been stocks can trade at higher rices if there's sign the economy is stiexpanding and most believe that's indeed, going to happen. for "nightly business report," at the new york stock exchange. so what would a santa claus rally, if it comes, bring in these final days of nge tra year? joining us right now, a portfolio manager, good to see you, welcome. >> merry christmas. >> we've already had a good

year, a good december. best december on wall stre since 2013. what would these last five days mean if we continue this rally? >> momentums still the market's best friend. as you indicate the 11th best year for the s&p 500 in more than 90 years of s&p 500 history. let's just put it in perspective. this is elf on a shelf meets a festivus miracle with momentum carrying into 2020. we're still in the seasonal period whe stocks will be the investors' best friend. >> as bob pointed out, the fed was r cutties this year they're not expected to do anything in 2020. we were worried about a trade war, there seems to be progress on that now. i mean, all of these headwinds we're facing are falling by the wayside. can it be that easy we'll see a higher market in 2020?

>> i think so. you and i have had the conversation before that in a single calendar year, the stock market almost nevereturns to the sweet spot of 9% to 10%. it's usually better than 13% or less than 6% o. next year maybe a more tepid growth of a, stock mark but a stock market where you'll see active investors do qui well there's rotations into energy and healthcare. i think it's still a market that's going to be fairly healthy, net of inflation and taxes. >> speaking of laggards, what about the international markets? were worried again another head w headthnd thi year. soft economy that seems to be bottoming out. >> terrific question. i think if i start ith a blank piece of paper with $100, i want

$80 to $90 in u.s. stocks. i don't see the efficacy of emerging marks. that's been the same since 1995. europe, should -- the growth rates simply aren't there to support the growth rates we're seeing in ste united es. >> technology has long been the favorite of anybody when you ask them what they like. is that still the case for you as well? >> i think within reason, yes. tech we know this year was up for example, in a mutual fund we have apple, microsoft, come to mind. and we've been adding to th names we think have the potential next year in healthcare, things like amgen or cvs on the healthcare side. i think that's the version

that's going to take place in 2020. >> david, mer christmas and year new >> likewise, right back a you, bill. >> thanks david. is the finalew hours before christmas, and the last big shopping push is on. could be big. retail world as super saturday, it's estimated sales reached more than $34 billion. and while a consumer is driving its economy, the way we spend did it 20 years ago.hit than we >> reporter: everyone else is focused on ristmas present, i'm here to talk a ctmas past. let's rewind the clock to 1999. how are consumers were spending their money? online shopping bely registered back then. the national retail federation hadn't beg tracking international sales. now it's forecasted to reach

$157 billion this holiday. it would help drive sales to another record high. >> this holiday season is looking to be our best i years. this past saturday was a single strongest shopping day of the season. all early indicators are showing this holiday season has been quit. >> reporter: 20 years ago, a bigger portion of our annual budget went to food and clothes. food used to eat up 13.6% of our income, now it's 12.9%. apparel was almt 5% of the budget, now it's 3th part of reason is the rise of fast fashion, but it's also the result of a risingincome. a smaller share of the budget needs to go to necessities. there's more good news on thefr housingt. while the share of income we spend on hsing has stayed the same, we're payinges a lotin

rtgage. so that means we should have a lot of extra money, right? not so fast. ta a look at healthcare costs. they've got up from 5.3% of the budget to 8.1%. spending on health surance has more than doubled. economists say the big culprit inflation. healthcare costs have risen by 3.5% over the pt two decades, while overall inflation has been at 2%. america's aging population means that healthcare will continue to ben issue in 2020 and beyond. let's turn now to dana to talk more about the winners and losers thisid h shopping season. she's the ceo andhief research officer. good to see you, thanks for joining us. >> thank you for having me, bill. >> let me cut to the as 4% sales growth this year,a mae ttle bit more, do you think we hit that this year? >> i think we do.

i think it was the season of the haves and have nots. value and convenience mattered. this is e first season for buy online, pick up in store throu all the retail chains. >> yeah, consumers and the retailers have become much more comfortable with this online phenomenon, you know, the brick and mortars know that they've got to be online as well to grow their les. how much more do they have to bi onli future holiday seasons? >> continue to see online growth but it doesn't meantores won't be essential. guess what? shoppers are spending 20 more when they pick up their item. when you have a physical store,l your online go up. if you close a digital stores, your online stores can go down 50%. i think over the next decade, we're going to see the integration of digital and

physical even more tethered than it is toy. >> we keep hearing about the demise of malls, but, you know, the younger generations like to go to the malls right now. it's become more of a socl gathering place for them in addition to a shoppin acenter, right? >> it is. people want to interact, want to socialize, meet people, to be able to have dinner or lunch together. i think one of the items we're seeing is everyone wants that acceptance. why do you see it? you're seeing people doing activities together. the activity of buying has to be married with the activity of shopping centers. do that at whether it's the genx or the millenials, they're making it to happen. >> who are the winners this season? >> i think it's going to be target, walmart, amazon, lululemon. and some of the luxury stores.

tj maxx and burlington also win. >> more than 9,300 stores closed this year. who is on your watch list after the season? >> some of tho retailers who didn't close all the stores th needed to, i'm thinking you'll potentially see more. pier one, forever 21 continue to be on the bucket list of what needs tbe watched. >> dana, happyha holidays,s for joining us. >> happy holidays. thank you. with allng that shopping b done, let's not forget about de veries. well more than 2 billion packages will have been shipped thishoseason. are the upss and fedexs of the world handling that last mile to your doorstep? >> reporter: there's more pressure than ever. last week before delivered the highest percentage of packagesn time at a.9%. anythive 95% is considered

good. the major shippers separated by a few tenth of a percent, but a tenth below 100% represents 86,000 packages thatere not delivered on top, sometimes good isn't good enough. logistics analysts say they we impressed by the overall performance. >> the few people who don it, they get to make a lot of noise on social media. but those will be very few millions of people who will behe receiving tir package in time for christmas. >> the full holiday rush since black friday, ups is ao the leader for on time deliveries. new data shows thippers are on pace to deliver 2.5 billion e-commerce packages and doing it in the shortest window possible, 33 days between black friday and new year's eve. >> next year we'll see over 3 billion packages in the same period. this growth will continue for at

least a couple more years. so the carriers need to start thinking abo how they're going to handle this in the future so returned gifts and gifts thatfo people boughthemselves. increase by over $million over last year. coming up, why tonight's market monitor lights will stop in the new year.

more and more americans shor for t mortgages online these days. that's helping some underserved borrowers get approval. pany is how one c trying to remove potential bias when it comes to gettg a mortage. >> reporter: online lending is taking over the market wi. these onlinelatforms may actually be leveling the playing field for borrowers and reducg bias in the market. better.com which reported 350% growth itself last year a so founde interesting numbers

regarding its borrowers. a ten fold increasen married lgbtq couples, five times t number of single women. 675% in gen borrowers. 500% for hispanics and 400% growth for icafrican-amers. mortgage applicants are notre ired to disclose their race, gender or sex. so the online process removes any potential bias, whereas in person or phone applicants could still face discrimination. couldn't buy in a particular neighborhood. maybe your monthly paynt should be this. we're able to express the criteria that all the major investors and the government have, and take that judgment out of the process and actually he empower consumer to make their own best decisions. >> rorter: more than 40% of better.com's customers use their mobile phones totart the mortgage process. that accessibility is a key

driver of the company's growth. >> last year, we were doing $150 millionth a mn mortgages. this year wet $700 million a month. by the end of next year we'll be doing $2 billion. >> reporter: better.com's agents do not work oncommission. another aspect designed tod empower the borrower. co-founder cuts ties with the company and that's where we begin tonight's market focus. he saidoday he will be leaving the raideft hailing company existing his board of the director's post at the end of the byear. he'l focusing on his rs philanthropic ts and he's cu working on a food delivery startup as well. shares rose a fraction for the day. irit airlines said it will be buying a 320 air jets to be deliveredhrough 2027. they have options to purchase 50

additional jets. it includ a variety of models. spirit's current fleet is made up of airbus. the stock was up a fraction to 4119. electrical and indusial pro network equipmentmanager. they received a bid fm a private equity firm for $86 a share. wesco said its proposal would create a distributor. it r wesco rose more than 5% to 58.57. u.s. regulators have fined american securities for a failures. credit suisse w dorn. rbc has raised his

microdeviced to $50. amd gained more than 2% to 46.54. all week we're gettingre yo y for the new year by bringing back some familiar market monitor guests. tonight's guest is buying some growth names heading into 2020. last time he was with us in august he recommended lowe' whichs up 11% and yelp, a 4% iner since that time. we welcome back richard steinberg, t chief market strategist at the colony group. before we get to your pick i want to pursue this. i have thought of you as a savvy value investor through years. it soundsike growth is your strategy for t20, is that case? >> i think we're looking at names that are going into next year. we're finng some mispriced growth names that we would call

growth at a reasonable price. we're finding two names, one of the value names we think will turn into a growth. >> you haven't completely given up on value. let's look at these thr companies. booking holdings deal pricele. if there's ever a company that needs to split its stock, what do you like? >> they own kayak, open table. international issa 50% os. the consumer is sticking around. what we call alternative accommodations or holiday rentals. these businesses are really strong. it's well-managed over the last ten years ts company has ricin25 and we think the stock has a 28% upside to the 25$2.5 $25.70ish

>> cvs, this is a company that wants to be on the vanguard of refiguring the healthcare industry. wee showing you a one year chart. it's had a pretty good year. for the last three or four years, this has gone lower. it's been trending downward. why do you think this is a >> hopefully it will turn ? growth. we think the purchase is transformative and the market is mispriced. amazon's risk into the pharmacyi ss. the stock -- we look to trade at ast to 94. it's going to value a play on iu and assaid, it hasn't had a big mover over the years and this may behe year for cvs next year. you have mid 20s upside. >> all right. finally, a company was not familiar with, it's an interesting business model. john beanog techns in food processing and air t. >> yli, thinkrs and

packaging and loading pnes and deicing planes. two separate businesses. think of also, ready to make d . and that's the business that they make the equipment for. the stock is -- we pick cheap based onts future growth. and the food pcessing busines in particular is very fragmented. so they have a strong mna culture. think this is an exciting stock. it's a trade in for the mid 150s next year which would have big upside. >> vy good. happy new year, good to see you, thanks. >> happy new year, merry christmas. always great to be on this side of the camera. coming up, a family dynamic that could make navigating your finances very complex.

nally toonnight, the holiday season filled with traditions can be a tense time for some,

including those in a so-called blended family. you know, when you marry a partner with children previous marriage, you family becomes blended. and as senior personal finance correspondent sharon epperson reports, this increasingn com family dynamic can make figuring out money issues especially ch >> reporter: at first glance, ronnie and lamar are a typical y fa they own a media company and live outside of atlanta with their four children. e two got married 14 years >> it was love first sight fo lamar. >> reporter: what sets them apart? ey're part of a growing group of american families defined as blended. a couple that joins together with childre from one or both of their preousrelationships, creates a bnded family. ronnie already had two children before meeting lamar. the couple had tng yt two afte they married. >> it blind sided me, i wasn't reallyut intentional a trying to figure out what does this mean for me, what does it mean

for my huand, what does it mean for my kids. >> reporter: navigating the complexities of a blend d family can ficult ienough. couples often put off having a moey talk. >> had to go out and get someone who was more educated, that knows more about these things that can advise us on what are the proper steps to take, andlso what are the steps not to take. >> reporter: marriage and family therapistson deal has decades.d families for two he says understanding the role money plays is crucial. >> you can address juerything, yo got to get started. is that couples create a mmend togetherness agreement. that's a detailed plan of how they're going to care for one n their marriage and fa oly, care for another's children. >> reporter: the tylers often work together from their home office, juggling work and on this point, they neverre

wad. they're both all in for all of their children financially. how did you come up with your cision for financials for children? >> i treat the children as if they were my own. give you money, pay for things as if they were my own. sometimes i refuse to give them auney as if they were my own. >> reporter: thior wrote a moms to empower steppa >> reporter: what are your ilnancial obligations to your ex? support, is there alimony? for housing?onsible for paying having that conversation, asking followed one simple rule. y they >> communicate, the more you can show the united front, even from a financial rspective, the better off you'll be as a

couple. >> reporter: and when the money talk gets toug the tylers say ask an expert for he. r "nightly business report," i'm sharon epperson. and before we go, final look at this shortened day on all street because of th holiday.the dow fell 36 points. nasdaq climbed 7 to close at its ninth straight record, first ti it's happened since 1998. the s&pff was a fraction today. that's "nightly business report" for tonight. i'm bill griffith. thank you so much for watching. have a great evening. wel see you tomorrow witeca l holiday edition of nbr. good night.

made possible by... man: babbel, a language learning app that teaches real uses speech recognition technology. daily 10 to 15 minute lessons are voiced by native speakers and they are at babel. b-a-b-b-e-l.com. narrator: fundinro was alsoded by... the freeman foundation. by judy d peter blum-kovler foundation. ng solutions for america's neglected needs. and by contributions to this pbs station from viewers like you, thank you. woman: and now, bbc world news.