as hampton pearson reports, some on capitol hill would like to bring it back. >> reporter: when vice president-elect mike pence met with house republicans today, the focus was on a legislative strategy to jump-start the trump agenda. likely to include massive infrastructure spending and tax cuts. house speaker paul ryan says that toolkit might include a return of earmarks, the old washington practice of allowing lawmakers to target spending on specific pet projects. >> our members are worried that the executive branch, unelected bureaucrats, have been given far too much power and we've seen violence done to the separation of powers. restoring the power of the purse truly to the legislative branch so elected officials can hold the unelected branch of government more accountable is the genesis of that concern. >> reporter: ten years ago, earmarks were viewed as a symptom of out of control spending, including a million-dollar woodstock museum in new york championed by then senator hillary clinton and senator chuck schumer, and former alaska senator ted stevens fighting for years for $22

for "nightly business report," i'm hampton pearson in washington. >>> two other economic reports today show slowing growth in the services sector and a rise in factory orders. the institute for supply management said its gauge of service sector activity fell last month amid a slowdown in orders and hiring. meantime, new orders for factory goods rose more than expected for the third straight month. >>> here is some terrific economic news. another economic report showed worker productivity increased at its fastest pace in two years. that helped curb growth in labor costs. according to the labor department, non-farm productivity rose in the third quarter. this is an improvement from the previous three-quarters which saw a decline in productivity. >>> the chicago cubs did something that haven't done since 1908, and today the s&p 500 did something it hasn't done since 2008. the index logged its longest losing streak since the financial crisis, down eight straight days. the other indexes were also lower. the dow jones industrials dow jones industrials fell 29 points to 17,930. nasdaq dropped

for "nightly business report," i'm hampton pearson in washington. >>> and speaking of the fed reactionoday, two federal reserve officials commented on the labor market. vice chair stanley fisher said the economy is close to full employment and raised the possibility that the fed could overshoot its 2% inflation target. >>> separately, the president of the atlanta fed said the bar is now high for the central bank not to increase interest rates in december. >>> so let's turn now to dean macke for more analysis on today's jobs report and what he thinks it may mean for the fed. he is chief economist at .72 asset management. dean, nice to have you here. welcome. >> thank you. >> let's start, first of all, with your analysis of the report. i noticed there were upward revisions in two prius reports, which strengthens those certainly. all in all, it seems to look pretty good. >> that's right. the job gains are relatively steady. they're at 175,000 on average over the past three months. that's more than enough to keep pushing the unemployment rate down. that will please the fed. and what we're

hampton pearson device into the minutes of the central banks' last meeting. >> just-released minuteshow monetary policymakers moving closer to raising key short term interest rates for the first time in nearly a year. with some even suggesting if they didn't raise rates in december, there was the risk of losing credibility, given audioloall the signals about an impending hike. >> they're shifting the goalpost for i think the investing public to begin to concentrate on what signals we'll get in december at the press conference that follows the december meeting about the number of rate hikes we might see in 2017. >> last week, fed chair janet yellen told lawmakers the election of donald trump has not changed the fed's thinking on the timing of a rate hike. but private economists argue the combination of a trump presidency and republican control of congress could change that trajectory. financial markets have already pushed up long-term interest rates in anticipation of possible tax cuts and spending on infrastructure projects. >> so the fed in looking at its first rate hike is really n

. >> over to hampton pearson with the market wrap. >> we had markets closing lower today.he dow sinking by 54 points and the s&p off by 11 and the nasdaq down by 30. that's it from cnbc, first in business. will your business be ready when growth presents itself? american express open cards can help you take on a new job, or fill a big order or expand your office and take on whatever comes next. find out how american express cards and services can help prepare you for growth at open.com. find obut my back pain was exprmaking it hard to sleep and open up on time. then i found aleve pm. the only one to combine a sleep aid plus the 12 hour pain relieving strength of aleve. now i'm back. aleve pm for a better am. oh, that's lovely...so graceful. the corkscrew spin, flawless... ...his signature move, the flying dutchman. poetry in motion. and there it is, the "baby bird". breathtaking. a sumo wrestler figure skating? surprising. what's not surprising? how much money heather saved by switching to geico. fifteen minutes could save you fifteen percent or more. ♪ everything your fam

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. >> more ahead, but first hampton pearson. >> the stocks begin with declines and sinking 54 points.ds 11. it may be cyber monday, but investors are not snapping up shares of amazon. the stock slipping nearly 2% today. wal-mart and target also finishing lower. american airlines announcing the first flight from miami to hava havana. coincides with a period of mourning for fidel castro. first in business worldwide. in. it comes when your insurance company says they'll only pay three-quarters of what it takes to replace it. what are you supposed to do? drive three-quarters of a car? now if you had liberty mutual new car replacement™, you'd get your whole car back. i guess they don't want you driving around on three wheels. smart. with liberty mutual new car replacement™, we'll replace the full value of your car. liberty stands with you™. liberty mutual insurance. when you're close to the people you love, does psoriasis ever get in the way of a touching moment? if you have moderate to severe psoriasis, you can embrace the chance of completely clear skin with taltz. taltz is proven to giv

first here hampton pearson with the market wrap. >> it was a solid month on the markets and the dow gainedpoints today for november. it's up over 5%. the s&p fell and up more than 3% and the nasdaq slid by 56 and gained 2.6% for the month. opec announced it will cut production starting in january and oil surged over 9% to close at 49.21 a barrel on that news. and companies added 216,000 jobs, more than economists expected. that's it from cnbc, first in business worldwide. david. what's going on? oh hey! ♪ that's it? yeah. ♪ everybody two seconds! ♪ "dear sebastian, after careful consideration of your application, it is with great pleasure that we offer our congratulations on your acceptance..." through the tuition assistance program, every day mcdonald's helps more people go to college. it's part of our commitment to being america's best first job. ♪ feel free to be yourself all day.... just switch from denture paste to sea-bond denture adhesive seals. holds stronger than the leading paste all day... without the ooze. feel secure. be yourself. with stronger, clean sea-bond. >> welcome beco

more mtp daily just ahead, but first hampton pearson has the market wrap. >> a happy friday to you.s ending the week to the downside. the dow shedding 35 points and the s&p down by and the nasdaq dropping by 12 points. one of the big decliners of the gap. shares sinking after report of a second quarter of sinking sales. it also said 2016 earnings would be lower than expected. and volkswagen is cutting 30,000 jobs as it struggles to bounce back from the emissions scandal. the plan would help save nearly $4 billion a year. that's it from cnbc first in business worldwide. >>> back to the breaking news we told you about at the top of the hour. donald trump and his legal team settled the three trump university lawsuits. trump will pay $25 million, but it doesn't include admission of wrong-doing. it does mean the president-elect will not have to go on trial before he is sworn in. just a moment ago, the organization released a statement saying in part "we have no doubt that trump university would have prevailed at trial based on the merits of this case. that headache has been wrapped up an

here's hampton pearson with the market wrap. >> closing lower doeds, the dow falling and the nasdaq losingints. investors keeping a close eye on the fed and the two-day meeting started today and interest rates are expected to stay the same, but a december rate hike is likely. weaker than expected results and plunging 38%. sales were graged down and news the company has an experimental cholesterol lowering drug. first in business worldwide. rian the way of a touching moment? if you have moderate to severe psoriasis, you can embrace the chance of completely clear skin with taltz. taltz is proven to give you a chance at completely clear skin. with taltz, up to 90% of patients had a significant improvement of their psoriasis plaques. in fact, 4 out of 10 even achieved completely clear skin. do not use if you are allergic to taltz. before starting you should be checked for tuberculosis. taltz may increase your risk of infections and lower your ability to fight them. tell your doctor if you are being treated for an infection or have symptoms. or if you have received a vaccine or plan to. inflamm

thanks for joining us and over to hampton pearson for the market wrap. >> market is closing mixed afterction cut. the dow gaining and the s&p losing five and the nasdaq dropping 56 points. that's it from cnbc, first in business worldwide. will your business be ready when growth presents itself? american express open cards can help you take on a new job, or fill a big order or expand your office and take on whatever comes next. find out how american express cards and services can help prepare you for growth at open.com. find out how american all finished.umm...ervices you wouldn't want your painter to quit part way. i think you missed a spot. so when it comes to pain relievers, why put up with just part of a day? aleve, live whole not part. painter: you want this color over the whole house? the medicare enrollment deadline is just a few days away. changes to medicare plans could impact your healthcare costs. are you getting all the benefits available to you? call healthmarkets and we'll help you find the medicare plan that's right for you. hi, i'm doctor [martin gizzi.] it's a new medica

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. >>> we have more "mtp daily" just ahead, but first here's hampton pearson. >> thanks, chuck.had a mixed close of the markets, but for the dow at 218 points is a record high. the s&p gains 4, the nasdaq sheds 42 points. disney shares are sinking after hours. the company reported revenue and earnings that missed estimates. the stock is up more than 2% in late trading. and filings for first-time jobless benefits fell by 11,000 last week to 254,000. they remain well below the level associated with a healthy labor market. that's it from cnbc, first in business worldwide. but then i . so, i finally broke the silence with my doctor about what i was experiencing. he said humira is for people like me who have tried other medications but still experience the symptoms of moderate to severe crohn's disease. in clinical studies, the majority of patients on humira saw significant symptom relief. and many achieved remission. humira can lower your ability to fight infections, including tuberculosis. serious, sometimes fatal infections and cancers, including lymphoma, have happened; as have b

let's get to hampton pearson in washington. hampton?he meeting in early november, the participants, we know, judging the case for a rate hike had in fact increased. what were the specifics? the participants said stronger labor markets, and increase in wages, they called it inflation compensation and increase in the labor force participation rate all positives toward moving towards the dual man date. they said they needed further evidence, specifically what kind of further evidence from the minutes we're told, still some concerns about modest slack in the labor market, low inflation expectations, they will still be data dependent and frankly there was still some who felt no immediate need to tighten. however, at the same time, how likely would a rate hike be in december? some participants, again, according to the minutes, argued that the fed needed to increase the target funds rate in december or that it should occur at the next meeting because, quote, they needed to, quote, preserve their credibility going forward. again, as we said to

hampton pearson from d.c.>> well, house speaker ryan in his earlier meet wg pence said their meetinging was focused on how to get a unified republican approach to governing, so hit the ground running and move the trump agenda. and yes, one among the options being talked about is a possible limited return of earmarks. ryan says it's all going to be about the idea of how to restore one of congress' power of over the person, gain back some of the authority they think is is executive branch has seized in recent years. here's how he put it when i asked him about it earlier today. >> our members are worried that the executive branch bure cat krass have been given too much power. when we say drain the swamp, that means stop giving all this power to unelected people and restore the constitution. that's what this debate is about. . >> now, there's push back from other conservative groups saying this is absolutely the wrong message to send. it's a return to the days of back room deals and the old business as usual in wa

. >>> i'm hampton pearson live at the federal reserve with the latest federal reserve beige book headlines. economic activity continued to expand across most regions at a moderate pace. demand for manufacturing products was mixed with a strong dollar cited as head winds in a few districts. majority of districts reported higher retail sales, especially for apparel and furniture. a slight upward pressure on overall prices. single family housing construction starts were higher in majority of districts, activity in nonresidential real estate expanded in many districts. new motor vehicle sales declined in most districts. a tightening of the labor market conditions was reported in seven of the 12 fed districts. farmers generally satisfied with this year's harvest, but low commodity prices continue to weigh on farm income. the energy sector is improving slowly across many districts, but there was an oversupply of oil and gasoline in the atlanta district. turning now it banking and finance, credit investment demand varied widely, new york, philadelphia, st. louis, strong commercial credit and loan