Nightly Business Report — August 1, 2014

Tonight on Nightly Business Report, the economy created more than 200,000 jobs for the 6th consecutive month and it says a lot about the health of the economy and what the Federal Reserve may do next. And, why Procter & Gamble believes the way to bulk up sales is to slim down.


Today’s stock stories: CVX, HLT, AGN, VRX, MBLY, HPQ, HOG & BRKa.

The Columbia University campus in New York.
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The Columbia University campus in New York.

Young, tech-savvy graduates often go from celebrating their diplomas to figuring out how to tackle their student loan debt in a matter of weeks. Knowing where to begin can be difficult. However, specific money management start-ups are currently lighting up the digital arena. None of these options are perfect, but they offer electronic alternatives to …

David Gould | Photographer's Choice RF | Getty Images

A new study by the Urban Institute finds more than 35% of Americans have debts and unpaid bills that have been reported to collections agencies. Find out what you should do if your debt goes into collections.

Baz Ratner | Reuters
Part of the Mobileye driving assist system is seen on the dashboard of a vehicle during a demonstration for the media in Jerusalem.

Don’t let Mobileye’s (MBLY) big debut fool you–there has been a deterioration in IPO pricing recently. True, it is a great day for the Israeli company, which priced 35.5 million shares at $25 and opened at $36. Wow. If you just look at the basic numbers, it doesn’t look bad for IPOs. Of the 176 IPOs that …

PeskyMonkey | E+ | Getty Images

If you’re a business owner, you may have noticed the ads in a spam folder or on the corner of your favorite page on a browser: apps and websites that offer to do background checks, some with lurid headlines like, “Find sex offenders in your neighborhood.” Technology has made getting information on a person’s past …

Source: Richard and Susan Eiswerth

You might stay entertained on a long road trip playing Punch Buggy, a game in which passengers slug each other in the shoulder whenever a Volkswagen Beetle goes by. But to learn something about economy trends while out on the highway, watch for a different type of vehicle. “I’m starting to see a lot more …

David Grogan | CNBC
Workers craft Trek Bicycles in Waterloo, Wis. Most bikes, however, are manufactured in Asia.

July’s slower gain of 209,000 nonfarm payrolls shows the economy is chugging along, and the labor market is improving, but it is also not strong enough to push the Fed to hike rates earlier than expected. Job creation was slightly below the 233,000 expected, and the unemployment rate rose to 6.2 percent as more workers attempted to …

Ty Wright | Bloomberg | Getty Images
An employee uses a mig welder to create a welding beed on the inside seem of a Pioneer coal stove at the Leisure Line Stove Co. facility in Berwick, Pennsylvania.

The U.S. manufacturing sector expanded last month at the fastest pace in more than three years boosted by a jump in its new orders and employment readings, an industry report released on Friday showed. The Institute for Supply Management (ISM) said its index of national factory activity rose to 57.1 in July, the highest since April 2011, from 55.3 in …

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A worker installs tires on a 2014 Jeep Wrangler as it undergoes assembly at the Chrysler Toledo North Assembly Plant, May 7, 2014 in Toledo, Ohio.

U.S. auto sales look set to show healthy gains for July, but not as much as expected, according to early returns from the major carmakers on Friday. Ford reported a gain of 10 percent to 212,236 vehicles, narrowly beating expectations, but both Nissan Motor and Chrysler Group LLC failed to sell as many cars and trucks in July …

Mary Thompson | CNBC
ATS mobile unit.

At a factory 10 minutes from the famed Augusta National Golf Club in Georgia, brightly colored golf carts are being assembled, inspected and prepped for shipment. These E-Z-GO carts come in vivid reds, blues, greens, the classic whites and a subtle gold color, all part of the expanding product line of Textron Specialized Vehicles. It is an …

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The U.S. economy created 209,000 jobs in June, below expectations, as the unemployment rate climbed to 6.2 percent, reflecting a consistent but unspectacular level of employment growth. Economists expected nonfarm payroll growth to hit 233,000 in July, down from an upwardly revised 298,000 in June, and unemployment to fall to 6.0 percent from 6.1 percent. …

Warren Buffett surprises teen cancer patient

Warren Buffett called into CNBC to surprise 17-year-old Tre Grinner, a Hodgkin’s Lymphoma patient who wants to be an investment banker.

Under Armour’s strategy shift

Under Armour is in the midst of a strategic rethinking, the retailer is trying to win over the female athlete.

Jewel Samad | AFP | Getty Images
Rep. Paul Ryan

Rep. Paul Ryan wants to change his image. The Wisconsin Republican gained a national reputation early on in President Barack Obama’s administration as a fearless deficit hawk battling to cut government spending—a profile that helped him win the vice presidential nomination on Mitt Romney’s 2012 ticket. Read More Paul Ryan wants choice in delivering aid to poor Now, the House Budget chairman, …