Nightly Business Report — May 29, 2015

Tonight on Nightly Business Report, why many economists are expecting a bounce back in growth after an ugly first quarter. And, looking for cheap stocks? Our Market Monitor guest will take you bargain hunting.


Today’s hot stocks: RST, BIG, GCO, AAPL & AMZN.

Brendan McDermid | Reuters
Traders work on the floor of the New York Stock Exchange.

June swoon for stocks? If you’re looking for a reason to get bearish on the market, at least short term, history may be on your side. That’s because the month of June has typically been a rough one for investors who own stocks. According to market data and analysis firm Kensho, June has produced some …

Chris Ratcliffe | Bloomberg | Getty Images
The Google Inc. Mobile Wallet application for cardless payment is displayed on a smartphone screen.

Mobile payments are booming. But are you missing out on credit card cash-back bonuses and rewards if you use your digital wallet? You could be. On its rewards information website, American Express warns that cardholders may not receive rewards points in eligible categories if they use digital wallets like PayPal and Google Wallet. Other card …

Getty Images
Traders work on the floor of the New York Stock Exchange.

Owners of Qualcomm stock may be looking around wondering where everybody else is. New data shows that Qualcomm has fallen off the list of the top 20 most held institutional stocks. The data comes from a new report by eVestment, at which CNBC got an exclusive first look. The full report is set to be …

Mark Ralston | AFP | Getty Images
Houseboats are moored on a shrinking arm of the Oroville Lake reservoir which is now at less than 25 percent capacity as a severe drought continues to affect California on May 24, 2015.

Up a winding mountain road in California gold country, hidden by groves of redwood and pine—along with pockets of humanity living off the grid—is a reservoir with the cheapest water in America. For every 100 cubic feet of water—a standard measure that equals 748 gallons—customers pay 42 cents in Oroville, California. (Tweet This) That’s cheaper than …

David Paul Morris | Bloomberg | Getty Images
Potential home buyers exit a home for sale in the Castro district of San Francisco.

Housing supply is tight in most cities across the United States, but that does not mean that every market is a seller’s market. Today’s homebuyers are a finicky lot and a mortgage-dependent lot and a confidence-lacking lot; they may want to buy a house, but they’re not as willing to be as “house poor” as …

Source: Boxed Wholesale
Boxed Wholesale CEO Chieh Huang.

The co-founder and CEO of the wholesale delivery service Boxed, Chieh Huang, announced that he will pay the college tuition of his employees’ children, according to The Washington Post. Huang’s decision—first reported by Forbes—comes amidst a wave of perks and better benefits provided by tech companies. Read More Facebook enters the minimum wage fight The program, …


The debate has America split—literally. With Wisconsin‘s adoption of so-called right-to-work legislation earlier this year, 25 states now prohibit mandatory union dues, and with legislation being pushed in several more states, the right-to-work movement is talking about a national “tipping point.” Under right-to-work legislation, no person can be compelled, as a condition of employment, to …

Getty Images
Low water levels are visible at Lake Oroville near the Bidwell Bar Bridge on May 7, 2015 in Oroville, Calif.

In California, water may be increasingly difficult to come by, but it hasn’t gotten harder to pay for. Californians are being forced to slash their water use as some predict that yet another year of drought could empty the state’s reservoirs. The massive Metropolitan Water District of Southern California (MWD), serving nearly 19 million customers, has …

A new way to treat cancer

Meg Tirrell tells us why the future of cancer therapy may almost be here.

Jamie Grill | Getty Images

Struggling to figure out how they’ll pay for rising college costs, some parents are willing to dip into their retirement savings and delay retirement but may not realize that in doing so they may be jeopardizing their own financial security. Some parents may not mind delaying retirement or may believe that using their retirement fund …

Ride hailers vs. regulators

A new rule being considered by New York City regulators has Silicon Valley in an uproar.

Controversy at FIFA

The president of FIFA spoke at the annual congress for FIFA, his first remarks since soccer officials were arrested yesterday.

Avago buys Broadcom for $37B

Avago Technologies has agreed to buy Broadcom for $37 billion in cash and stock.