for "nightly business report," i'm hampton pearson in washington. >>> to politics. donald trump has a plan to spend $1 trillion on infrastructure over the next decade. the outline, drafted by his advisers, relies on private funding. john harwood is following the story for us from washington. john, mr. trump has been speaking about spending lots of money on infrastructure for some time now. is the price tag here what's new, or is there other things here that are new? >> reporter: the price tag is the same. he's been saying $1 trillion for a while, sue. what's new is that his advisers, peter navarro and wilber ross, outlined how the fund they're proposing would actually work. essentially they're saying private investors would put up $167 billion and the rest would be borrowed money. and the money would be repaid by the revenue streams from projects that they would be building. >> so john, how does this proposal compare with hillary clinton's? >> reporter: well, it's twice as big as hillary clinton's. she's got a $500 billion infrastructure proposal. a bunch of that, m

for "nightly busine" i'm hampton pearson in washington. >>> as we've been reporting, the labor market faces two major challenges: stagnant wages and a skills gap. but a new report today may shed some light on the issues. steve liesn explains. >> reporte a vast study of the u.s. labor market by the pew research center released today finds wages of younger workers have acty decli compared to 1980. the wages of all workers have soared. th study includes a survey of 5,000 americans and an analysis of decades of government data. using 2014 dollars, the study found those age 16 to 24 have seen their incomes decline older workers have seen their wages increase by 37%. over the time period the median income of all workers rose just 6%. that was powered by two groups, those with four-year college degrees and women, who saw 32% gain in income versus a 3% decline in men, closing the gender pay gap. stagnant incomes is a big reason for widespread political dissatisn acr u.s. and other developed countries, one that has the attention of the world bank. >> the only group whose income did not rise be

for "nightly busine" i' hampton pearson at the >>> coming up, hillary clinton takes on big corporatees, behaving badly, she say ♪ >>> new york's attorney general s ordered the trump charitable foundation to stop fund raising in the state immediately. the ag's office says the foundati is not properly register to do so and has 15 days to supply the delinquent paperwork. the trump campaign says it is concerned about the political motivation behind the investigat but the foundation will fully coo >>> well, over the weekend, a "new york report said republic presidential nominee, donald trump, claimed a tax loss of nearly $1 billion back in 1995. the "times" said that loss could mean he paid zero federal income tax for nearly two decades. the move is legal, and eye-openin frank explains how the tax code can turn losses into >> when most taxpayers lose money or income, they never get it back. but donald trump's latest tax controvers sho that for certain wealthy taxpayers, a loss can actually be a gain. the "new york" reporting over the weekend that trump reported a net operating loss of $91

and as hampton pearson reports, the eventually outcome could change t way cases are pros >> the highourt is being asked to overturn the conviction of an illinois man who made more than $1.5 mil trading on nonpublic n about future health ca deals. the source was his brot, an investment banker at citigroup global markets in new york who actually passed on the information throh it's the most important insider trading case in 20. >> i think this is a ground breaking opportunity for the court to take an area of law that is absolutely nebulous and add real clarity to it. >> during argument today, most justices said the insider trading violas the law, even if the person supplying the secrs doesn't receive anything of value in retu said justice anthony kennedy, you certainly benefit from giving to your family. it benefits you by making your family mor. a similar sentiment from justice steven breyer. helping a close family member, .e said, is like helping but the justices also challenged the government's approach, which urged a focus on the business purpose of the insider tipster. the securit

and as hampton pearson reports, it reflects the deepening divide within the world's most powerful cent >> minutes from the september federal meeting showed the decision not to raise interest rates was a close cal but a majority argued for a delay, citing inflation well below the fed's 2% target with few signs of wage press and slack in the labor market. proceeding cautiously, the majority argument, could promote the doves have the argument with the data behind them. slow growth, nonexistent inflation, the consumer under precious with declining income, negative busin investment. but the minutes showed d divisions. the centers warn waiting too long could pose risk to economic expansion, tighten labor markets and damage the fed's credibilit they don't have any bullets left in their chamber. a recession coming and they don't know that unconventional monetary polic is the way to combat that recession. >> the september decision produced three rare dissents. regional bank president esther george of kansas city and eric rosengren fro boston wanted the fed to raise rates at that meeting. the ce

hampton pearson takes a loo >> reporte in september, job growth slowed for a third straight month.rom a revised high of 252,000 jobs in july, a big drop to just 167,000 in august, and an even further slide with employers adding just 156,000 new workers . good-paying professional and business servi jobs led the way with 67,000 new hires. hourly wages, now just under $26 an hour are up 2.6% year over year, and are showing signs of accelerati today fed vice chair stanley fisher said today's jobs report was pretty close to goldilocks. >> what it did today, the participn rat went up, the unemployme rate went up. those two things are fine. it means employment was going at a rate that is fully consistent with keeping unemployment declining. somewhat further. >> reporte more than 440,000 americans did com back into the job market last month, but only about 95,000 got hired. triggering an uptick in the unemployme rate t. leading econo point out it's the slack in the labor market as a reason to hold off on raising inter >> this recovery has more room to run, especially when there is no hint

back to you. >> hampton pearson outside the supreme court. hampton, thank you. up next, plus, barry diller join s us in a live cnbc exclusive interview. don't go away. we're drowning in. where, in all of this, is the stuff that matters? the stakes are so high, your finances, your future. how do you solve this? you don't. you partner with a firm that advises governments and the fortune 500, and, can deliver insight person to person, on what matters to you. morgan stanley. the conference call. the ultimate arena for business. hour after hour of diving deep, touching base, and putting ducks in rows. the only problem with conference calls: eventually they have to end. unless you have the comcast business voiceedge mobile app. it lets you switch seamlessly from your desk phone to your mobile with no interruptions. i've never felt so alive. get the future of phone and the phones are free. comcast business. built for business. >>> good morning once again, everybody. i'm sue herrera. the supreme court let stand lower court rulings allowing pennsylvania and maryland to k

hampton pearson outside the supreme court. >>> still to come, live from the cnbc cambridge cyber summitr andrew mccabe. his take on cyber threats facing america. that important interview next. >>> then, some are calling it google's first real threat to the iphone. walt mossberg's take on the new google pixel, coming up. ♪ we're drowning in information. where, in all of this, is the stuff that matters? the stakes are so high, your finances, your future. how do you solve this? you don't. you partner with a firm that advises governments and the fortune 500, and, can deliver insight person to person, on what matters to you. morgan stanley. i've got a nice long life ahead. big plans. so when i found out medicare doesn't pay all my medical expenses, i looked at my options. then i got a medicare supplement insurance plan. [ male announcer ] if you're eligible for medicare, you may know it only covers about 80% of your part b medical expenses. the rest is up to you. call now and find out about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all st

comparis to samsung's current problems with this generation of smartphone for "nightly busine" i'm hampton pearsonthe >> yum brands. tonight's mart focus. the fast food operator said the spinoff of its china division later this month will allow the company to add more restaurants around the world with a goal to increase franchise ownership to 98% by 2018. the owner of the restaurant's kfc and taco bell also said it expects to return up to $13.5 bin to shareholders by 2019. shares of yum finished at 18825. >>> st. jude medical will recall some of its defibrillators bee their batteries could run out early and cause the device to stop working. the battery depletion issue affects about 400,000 devices and has been linked to two deaths. st. jude is currently in the prs of being taken over by abbott laboratories in a $25 billion deal. the news sent shares down 3.5% to 78.41. >> rent a center said third quar profit will fall below estimate while same store sales are expected to be down. an unsuccessful transition to a new sales operating system impacted its results. they punished the shares today. they f

back to you. >> all right, thank you very much, hampton pearson.heck on the markets here, very little reaction to the beige book, media upward. look at tesla shares, they're at session highs right now. and this after elon musk tweeted tesla product announcements at 5:00 p.m. california time, which would mean 8:00 p.m. eastern time, 30 minutes of media q&a to follow. >> let's get back to that beige book. and the macro data. how will that latest data from the fed impact the market if at all. let's bring in shre kumar. thank you very much for joining us. you heard the read. not to take anything away from it, you want to say, oh, big news, seems like this is kind of more of the same. would you read it that way? >> i would agree with you completely, brian. i think you didn't hear anything new, anything dramatic in the latest beige book statement. only thing i would add is that hampton talked to us about reduce slack in some labor markets, tightening labor markets. but janet yellen's recent statement talked about availability of labor. the thing that com

either way, hampton pearson with the fed minutes now. >> it was a close call at the september 2 16r9 meeting when it came to raising interest rates, that's what the fed minutes tell us. we know there were three dissenters who wanted to raise rates by 25 basis points. a reasonable argument could be made for an increase. many expressed the concern that slack remains in the labor market, that was a principle reason for holding off. proceeding cautiously, the minutes say, with reducing monetary policy accommodation could promote further labor market improvement. but there were strong arguments on the other side, dissenters warning waiting too long to raise rates could pose the risk to the continuing of the economic expansion. dissenters said without gradual increases, the labor market could tighten. they also said that the delay also implied a further divergence from fed policy and dissenters warning the delay risked eroding fed credibility if the next step in the gradual removal of accommodation was further postponed. many members said they expect inflation to remain low in the near ter

. >>> hampton pearson has cnbc market wrap. >> thanks, peter.e had stocks ending the day on a down note, the dow losing 45 points, the s&p dropping six, the nasdaq falling by 25 points. >>> the number of americans filing first time unemployment claims were unchanged last week, holding at a 43-year low at 246,000. the prior week's numbers were revised downward by 3,000. >>> amazon is hiring 120,000 seasonal workers this year to help with the busy christmas shopping season. positions are being created at customer service sites in 27 states. >>> that's it for cnbc, first in business worldwide. since when? since now. she's into tai chi. she found disc sports too stressful. hold on. let me ask you this... what's she gonna like six months from now? who do we have on aerial karate? steve. steve. steve. and alexis. uh, no. just steve. just steve. just steve. live business, powered by sap. when you run live, you run simple. bp engineers use underwater robots, so they can keep watch over operations below the sea, even from thousands of feet above. because

. >>> here's hampton pearson.cnbc market wran. >> we saw markets closing lower today, the dow tumbling by 45 points. the s&p off by 6, the nasdaq dropping by 25 points. that's it for cnbc first in business worldwide. ♪ ♪ i wanted to know where i did my ancestrydna. the most shocking result was that i'm 26% native american. i had no idea. it's opened up a whole new world for me. ♪ >>> well, a surprising twist today in the bridgegate scandal in new jersey, a judge issuing a cred critical summons for governor chris christie. this stems from the delays on closing of the lanes of the george washington bridge. we're in newark, new jersey. that is where the trial is now in its fourth week. brian, this headline, though, has nothing to do with the federal trial taking place where you are. take us through what happened today. >> reporter: it is based on some of the testimony by a star witness or the government in this trial over those lane closures and this activist from bergen county took that testimony, went to a municipa

first hampton pearson with today's cnbc market wrap. >>> stronger than expected earnings reports gavel street a boost. dow finished 75.5, s&p 500 up 14, nasdaq 44 points higher. stock in the largest health insurer rose. united health care profit growing 23% to $2 billion. one in five americans get another historic low increase in monthly social security checks next year. cost of living adjustment is just three-tenths percent or $four more a month for the average recipient. that's it from cnbc. first in business worldwide. sweater. oh comfy sweater. you keep us warm yet make us look cool. and with a capful of downy infusions with touch activated freshness, you've got a few more tricks up your cozy sleeve. because with every touch, tug, or tender hug you release a bounty of beautiful botanical fragrance. now, our knitted friend, you'll always smell as good as you look. because clothes deserve more. seconds can mean the difference between life and death. for partners in health, time is life. we have 18,000 people around the world. the microsoft cloud helps our entire staff stay connected

but first, hampton pearson has the stock report. >> thank you, today we have warnings of rising inflationthe dow fell just under 52 points, the s&p lost six, u.s. crude oil provides trading below $50 a barrel. warning, low interest rates could cause the u.s. economy to drag for a long time. meanwhile, netflix reporting stronger than reported sales, add i adding more from business world. he has a sharp wit, a winning smile, and no chance of getting an athletic scholarship. and that is why you invest. the best returns aren't just measured in dollars. i'start at the new carfax.comar. show me minivans with no reported accidents. boom. love it. [struggles] show me the carfax. start your used car search at the all-new carfax.com. you're not a firefighter, if you don't fight fires. or a coach, if you don't coach. and you can't be our leader, if you don't lead. our next president needs to take action on social security, or future generations could lose up to $10,000 a year. we're working hard, what about you? hey candidates, do your jobs. keep social security strong. >>> democrats and some republ