Transcript: Nightly Business Report – June 11, 2018

ANNOUNCER: This is NIGHTLY BUSINESS REPORT with Bill Griffeth and Sue
Herera.

SUE HERERA, NIGHTLY BUSINESS REPORT ANCHOR: Critical week. An historic
summit, a possible interest rate hike, and key economic data — they could
all determine whether more fuel gets added to the rally.

BILL GRIFFETH, NIGHTLY BUSINESS REPORT ANCHOR: Not in the room. President
Trump and Kim Jong-un are getting all of the attention, but it`s China that
could decide whether the summit is a success.

HERERA: Aging in place. Why it`s important not only to decide when to
retire, but also where to spend your golden years.

Those stories and more tonight on NIGHTLY BUSINESS REPORT for Monday, June
11th.

GRIFFETH: And we do bid you good evening, everyone.

We are heading into one of the biggest weeks for investors in recent
memory, with some calling it the most important week of the year for the
world economy. First up, of course, there`s the historic summit between
President Trump and North Korean leader Kim Jong-un in Singapore. Then,
three of the most powerful central banks have meetings scheduled. Our own
Fed is widely expected to raise interest rates during its gathering this
week. Plus, important new inflation data will be released, along with the
retail sales figures.

And all of this occurs just as Wall Street`s major averages inched their
way back toward new highs. Today was very much a wait-and-see kind of a
day ahead of all of those events. The Dow average gained about five
points. The Nasdaq was up 14. The S&P gained about three.

Bob Pisani, though, has more now on what investors can expect in the days
ahead.

(BEGIN VIDEOTAPE)

BOB PISANI, NIGHTLY BUSINESS REPORT CORRESPONDENT: The markets are
cautious ahead of one of Wall Street`s busiest weeks this year, starting
with President Donald Trump`s historic summit with Kim Jong-un in
Singapore, and ending with three key central bank meetings. The Federal
Reserve meets on Wednesday, the European Central Bank on Thursday and the
Bank of Japan on Friday.

Bank stocks could be set to rally, as many are expecting the Fed to raise
rates this month and the ECB to signal a start to unwinding its own era of
easy money. Add to that, a pile of economic data, everything from
inflation reports to retail sales and industrial production. That`s a lot
for the markets to digest, but not much can keep them down for now.

There`s four reasons. First, the right kind of leadership is powering the
markets. Tech is still strong, but financials have joined the party now.
Together, tech and financials are more than 40 percent of the S&P 500, and
energy is holding on and retailers have surged as earnings commentary has
gotten stronger.

Second, trade talk has been confusing but hasn`t sparked any trade tantrum
in the market just yet. Many do not believe that a global trade war is
imminent, and traders have become numb to these endless tweets. Third, the
Fed is perceived to be on top of things but not overreact, not raising
rates too fast. Job performance is good, wage growth is good, but it`s not
overheating, as steady as she goes with gradual tightness.

Fourth, the U.S. growth outlook is solid. Real estate investment trusts,
for example, have rallied 5 percent off of their May lows. Now, REITs are
perceived to be interest rate sensitive, they are, but they are also
cyclicals, and they are helped by better economic growth as well.

For the moment, there`s a lot more upside than there is downside.

For NIGHTLY BUSINESS REPORT, I`m Bob Pisani at the New York Stock Exchange.

(END VIDEOTAPE)

HERERA: So, with many political and economic events on the calendar, how
should investors separate the noise from what really matters?

Joining us to talk about that is Kenny Polcari, director of the New York
Stock Exchange floor division at O`Neil Securities.

Great to see you again, Kenny. Welcome back.

KENNY POLCARI, O`NEIL SECURITIES DIRECTOR: Thank you, Sue. Great to see
you as well.

HERERA: I think that is the question. There is so much headline noise out
there this week.

POLCARI: Right.

HERERA: If you`re a longer term investor, what should you do?

POLCARI: So, you do — you have to eliminate the noise, right? Certainly
for the long-term retail investor, the worse thing they can do is
concentrate on everything that we`re describing as noise.

And, look, the G-7, as significant as it is, is noise. The U.S. and North
Korean summit, OK, that`s all well and good, it`s historic, but really,
nothing is going to be accomplished in a two-hour meeting that Trump and
Kim Jong-un are going to have in two hours, right? At 9:00 p.m. our time.

And so, therefore, as long as the news isn`t negative, as long as the
headlines aren`t negative about that meeting, then the market will be OK,
right? What people should be focusing on is get rid of all that and you
should be focusing on as Bob and you said, the Federal Reserve, what they
say on Wednesday, what the ECB says on Thursday and what the Bank of Japan
says on Friday, along with the broader macro data, which is really going to
be all of those events is what price stocks, right?

The noise, G-7 and the summit are not going to price stocks in the long
term and they`ll just cause investors to get anxious.

GRIFFETH: OK. So, the expectation, Kenny, is that the Fed raises rates on
Wednesday for the second time this year.

POLCARI: Right.

GRIFFETH: We wait to see what they might suggest about the future. What
do you expect rates to do? How do you position yourself with interest rate
vehicles right now?

POLCARI: So, look, we have been talking about this for a long time. So,
you`re not going to necessarily position yourself for the news coming out
on Wednesday. You would have already started to do that, right?

It`s well — it`s been well discussed that rates are absolutely expected to
go up next — this week on Wednesday, 25 bases points, certainly well
within. I think — and if you`ve been buying in to the story about what
rates are going to do in September, then your positioned properly.
Financials will do well certainly in a rising rate environment. And if
they come out and talk about the strength of the economy, then you have to
start certainly looking at the other sectors.

Tech is always going to be strong. I think tech is absolutely going to
remain strong. But like Bob said, retails are, all of a sudden, starting
to lift their head. Energy has performed very well and will continue to
perform well and in an economy that is strong. So, I wouldn`t be making
any major changes ahead of this news coming out on Wednesday.

Now, if they come out and they say that there is a fourth rate hike in the
works, then this might cause a little bit of anxiety for the market but it
depends on how they position it.

HERERA: One of the other big events this week is possible decision on the
Time Warner (NYSE:TWX) deal, the Time Warner (NYSE:TWX)/AT&T (NYSE:T) deal.

POLCARI: Right.

HERERA: What are the implications of that for investors and depending on
what happens, what does it do to the merger and acquisition landscape?

POLCARI: OK, the one thing it`s going to be that sector specific, right?
So, it`s going to be television, media, that`s going to be the sector
that`s going to react one way or another. Certainly, retails don`t care
about what happens nor does anything else.

But here is the deal. I think the Time Warner (NYSE:TWX) deal is priced at
$303 a share. Time Warner (NYSE:TWX) closed I think today around $97,
which leaves a little bit of room that investors are just a little bit
cautious that it could go either way.

If the deal gets prevented, if they block the deal, certainly look for Time
Warner (NYSE:TWX) to back off, probably back to somewhere low to the mid-
80s. Watch also for telephone to back off because of the opportunity lost,
right? Then I think it`s going to talk about that whole sector, the
Comcast (NASDAQ:CMCSA) (NYSE:CCS)/Fox deal that`s in the wings waiting for
this decision is either going to be on or be off, right?

If they block this merger this deal, then the Comcast (NASDAQ:CMCSA)
(NYSE:CCS) deal is going to be off. If they let this merger happen, then
you can expect that Comcast (NASDAQ:CMCSA) (NYSE:CCS) is going to make a
bid for Fox as they have indicated they are going to do.

HERERA: Thank you, Kenny.

GRIFFETH: Thanks, Kenny.

HERERA: As always.

POLCARI: Always a pleasure, thanks.

HERERA: Kenny Polcari with O`Neil Securities.

Bill?

GRIFFETH: Investors across the globe will be watching and waiting to see
what happens in Singapore when the leaders of the U.S. and North Korea meet
there. But there`s another country that could influence the talks as well,
one that will not be in the room with the two leaders. That country is
China.

Eunice Yoon has our report for us tonight from Beijing.

(BEGIN VIDEOTAPE)

EUNICE YOON, NIGHTLY BUSINESS REPORT CORRESPONDENT: Beijing won`t be
physically in the room, but its presence is already being felt at the
summit. The most obvious symbol is the image of North Korea`s Kim Jong-un
arriving in Singapore on an Air China plane on loan from Beijing.

President Xi Jinping has every reason to want this summit to be a success.
Officially, the Chinese having encouraging dialogue and denuclearization.
The foreign ministry said today China hoped to see a positive result.

China and the U.S. have a lot of issues on their plate like trade and North
Korea, removing North Korea as a regional security concern would be in
President Xi`s interest. At the same time, there`s likely to be discomfort
that China doesn`t have direct control over the proceedings. For years,
the U.S. is trying to resolve issues with North Korea through a different
framework the Six-Party talks, with China playing a broker role. So, this
is unfamiliar territory for China.

If China doesn`t like the outcome of the summit, it does have an ace up its
sleeve. Beijing has economic leverage over Pyongyang. If Beijing doesn`t
like the deal, it has the ability to undermine it by easing up on pressure
on North Korea.

For NIGHTLY BUSINESS REPORT, I`m Eunice Yoon in Beijing.

(END VIDEOTAPE)

HERERA: And while much of the world is, indeed, focused on President
Trump`s summit in Singapore, there is growing concern about his threats to
slap a tariff on vehicles imported from Canada. Some of the most popular
cars and trucks and SUVs here in the U.S. are built north of the border.

Phil LeBeau has more on what`s at stake if tariffs are slapped on those
vehicles.

(BEGIN VIDEOTAPE)

PHIL LEBEAU, NIGHTLY BUSINESS REPORT CORRESPONDENT: The next time you look
for a new car, truck, or SUV, look closely at the sticker on the window.
You`ll likely find it was built in Canada. Chrysler minivans, Chevy SUVs
and the Ford Flex all roll off assemble lines in Canada. In fact, more
than 11 percent of the vehicles sold in the U.S. last year came from our
neighbor to the North, which is one reason the U.S. runs and auto trade
deficit of almost $27 billion with Canada.

That rankles President Trump and when the G-7 meeting turned contentious,
President Trump threatened to hit Canada`s auto market, tweeting: I have
instructed our U.S. reps not to endorse the communique as we look at
tariffs on automobiles flooding the U.S. market.

Canada`s prime minister is not backing down.

JUSTIN TRUDEAU, PRIME MINISTER OF CANADA: I stand ready to work closely
with the president to resolve this dispute swiftly, but as I have
consistently said, I will always protect Canadian workers and Canadian
interests.

LEBEAU: If the U.S. breaks the NAFTA agreement and puts a tariff on
vehicles built in Canada, it`s hard to predict what it will mean for car
and truck prices here in the U.S. Some estimate prices could rise between
$400 and $2,000 per vehicle. But so far, auto executives are treating the
trade tensions with Canada much as they have the trade tensions with
Mexico.

In short, automakers are taking a wait and see approach. Until the Trump
administration actually imposes tariffs on vehicles from Canada, the auto
industry will plan on continuing to import millions of vehicles from north
of the border.

Phil LeBeau, NIGHTLY BUSINESS REPORT, Chicago.

(END VIDEOTAPE)

GRIFFETH: So, while automakers are taking that wait-and-see approach, some
steel companies are restarting their factories, thanks to changes in trade
policies and an increase in demand. But the decision to start up
production again isn`t without risk.

Jackie DeAngelis is in Granite City, Illinois, for us tonight.

(BEGIN VIDEOTAPE)

JACKIE DEANGELIS, NIGHTLY BUSINESS REPORT CORRESPONDENT: U.S. Steel`s
blast furnace B in Granite City, Illinois, employees said you could hear a
pin drop here and it`s been idle since 2015. Now, it`s up and running and
the energy is palpable.

In March of this year, the company made the decision to restart this
facility, in part due to strong demand, but also because of President
Trump`s decision to impose tariffs on imported steel and aluminum.

DAVID BURRITT, U.S. STEEL CEO: We are actually now seeing our government
stand up for the steel workers, and this is a really good thing for us.
We`ll have to see how this all plays out, but we think this is a good first
step and maybe Canada and Mexico and others will come to the table. We`ve
seen the South Koreans come to the table and we actually end up not having
tariffs but also put in place some quota. So, this is a good first step.

DEANGELIS: It took about 12 weeks to get this furnace functional, but it
now is part of the steel production process for manufacturing of things
like washing machines, refrigerators and auto products and tubular pipes.

A lot of the excitement here is coming from employees, 500 people will work
here. Many of them rehired who had lost their jobs. Some of them new
hires.

When blast furnace A comes online in early October, another 300 more jobs
will be added.

TONY ZEDOLEK, U.S. STEEL BRICK LAYER: It`s comforting, I guess, to be back
to work. A big change. It means everything to people here, you know?
Their security for their family, health care, retirement plans for some
people.

So, it`s a big deal here. A lot of people excited to be back to work. A
lot of new jobs being created.

One of the things I think that is overlooked sometimes, obviously, big
impact for the steel workers. But there`s also, like me, I`m a brick
layer.

DEANGELIS: U.S. Steel says the restart of this facility is important
because it`s representative of action to help revive the industry, but
action to revive one industry could hurt another.

A study by the Trade Partnership finds that the tariffs, quotas and
retaliation would increase the annual level of U.S. steel and aluminum
employment by more than 26,000 jobs over the first three years but would
cost other industries more than 400,000 jobs and 16 jobs lost for every
steel aluminum gains.

For NIGHTLY BUSINESS REPORT, I`m Jackie DeAngelis, Granite City, Illinois.

(END VIDEOTAPE)

HERERA: The Treasury Department imposed sanctions on three Russian
individuals and five companies today. The U.S. says they worked with
Moscow on ways to conduct cyberattacks against the U.S. and its allies.
The designation prohibits American citizens from engaging in transactions
with them. The White House had blamed Russia for a global cyberattack in
February that it says cost billions of dollars in damage.

GRIFFETH: Time to take a look at some of today`s upgrades and downgrades.

And we begin tonight with ConocoPhillips (NYSE:COP), which was initiated
with an outperform rating and new coverage at BMO Capital Markets. The
analyst there cities free cash flow, the potential for increased stock buy-
backs and dividend growth. Price target now $78. That stock rose 1.5
percent to $74.49.

Jefferies is looking at energy companies in the Permian basin and today
upgraded Cimarex Energy (NYSE:XEC) to buy from hold. The analyst cited an
improved production outlook and the potential for dividend hike there as
well. Price target: $107. The stock rose nearly 2 percent to $87.25.

HERERA: That same analyst of Jefferies downgraded shares of Oasis
Petroleum (NYSE:OAS) to hold from buy. The firm cites the tax valuation
after a 50 percent rise over the past three months. The price target is
$14. The stock closed just below that level at $12.87.

First Data was upgrade to buy from neutral at Goldman Sachs (NYSE:GS). The
analyst cites the potential for improved revenue growth. The price target
is $25. The stock up was 2 percent to $2.48.

GRIFFETH: Still ahead, the multibillion dollar video game industry is
powering up as some of the big players battle upstarts.

(MUSIC)

GRIFFETH: Today marks the official end of the regulations that govern the
Internet, those rules that were wildly known as Net Neutrality mandated
that Internet providers could not block or slow down certain Websites or
prioritize some content over others. The repeal was led by the current
chair of the FCC who, today, said that customers are not going to see any
change at all.

(BEGIN VIDEO CLIP)

AJIT PAI, FCC CHAIRMAN: From this day forward, I think our interest is
making sure that we have a free and open internet, and that consumers were
able to get better, faster, cheaper Internet services. That`s what I hear
when I travel around the country and talking to consumers from Los Angeles
to the Rosebud Sioux reservation in South Dakota, to just a couple of weeks
ago in Dahlonega, Georgia. This is the regulatory framework that`s going
to lead to the better Internet that consumers want.

(END VIDEO CLIP)

GRIFFETH: They vote to roll back. The rules occurred in December, but it
took time for them to be implemented, which is why they are expiring today.

HERERA: At Comcast (NASDAQ:CMCSA) (NYSE:CCS) shareholder meeting, CEO
Brian Roberts was asked about the Internet rules and he said that his
company does not block or throttle traffic and that he supports an open
Internet. He also commented on Comcast (NASDAQ:CMCSA) (NYSE:CCS) interests
in some of the assets of 21st Century Fox and, more broadly, the potential
for growth through acquisitions.

(BEGIN AUDIO CLIP)

BRIAN ROBERTS, COMCAST CEO: As we discussed during our recent conference
calls and webcast, opportunities arise for us to create more value for our
shareholders like we did with NBC Universal (NYSE:UVV). Our current offer
for Sky, as well as our announcement last month that we are also
considering and advanced stages of repairing an offer for the businesses
that Fox is selling are perfect examples of this. Importantly, we set the
bar high. We haven`t been and will remain disciplined.

(END AUDIO CLIP)

HERERA: The bid for Fox`s assets could hinge on the outcome of tomorrow`s
expected ruling in that AT&T (NYSE:T)/Time Warner (NYSE:TWX) antitrust
case. According to reports, if the AT&T (NYSE:T)/Time Warner (NYSE:TWX)
merger is approved, Comcast`s official bid could come Wednesday.

As you`re probably aware, Comcast (NASDAQ:CMCSA) (NYSE:CCS) is the parent
company of CNBC, which produces this program.

GRIFFETH: The videogame industry is riding high these days. I mean, just
ask anyone who plays that hot new game “Fortnite”. Industry profits are
up, so are stock prices.

But the $100 billion industry is undergoing a lot of changes and that was
evident at the annual E3 Expo that attracts some of the biggest players in
the business.

Julia Boorstin has more for us tonight.

(BEGIN VIDEOTAPE)

JULIA BOORSTIN, NIGHTLY BUSINESS REPORT CORRESPONDENT: This year, E3 is
all about the new game designed to attract new fans and to stick out from
the crowd.

Microsoft (NASDAQ:MSFT) Xbox presentation unveiling new and exclusive
content and easy access to it. Microsoft (NASDAQ:MSFT) showcased 52 games,
including 18 exclusives for the Xbox console. Also announcing it`s buying
a five game studios. Xbox is also adding more games and features to its
$10 a month game pass subscription.

Microsoft (NASDAQ:MSFT) head of gaming Phil Spencer saying the services
changes will accelerate its growth.

PHIL SPENCER, MICROSOFT HEAD OF GAMING: What we are seeing today in game
pass is not only an expansion in subscribers, but the people that subscribe
actually play more games. So, for the industry itself, it drives higher
engagement across more franchises.

BOORSTIN: One game everybody is talking about here at E3 is Epic`s
“Fortnite”. It`s gone viral in part, thanks to the ability to play with
big groups of people and also across both consoles and mobile devices.

“Fortnite`s” success is prompting console makers like Xbox to make changes
to support that game play and prompting its rival game makers to make
change to take it on.

SPENCER: We are continually working with Epic about how to make that game
even bigger. They are doing a lot of e-sport work this year. Xbox has
always been a great place for multiplayer games and “Fortnite” is a huge
hit for us.

BOORSTIN: In response to “Fortnite`s” success, game maker giant Electronic
Arts (NASDAQ:ERTS) announcing it`s launching a battle royale mode for
Battlefield 5, enabling massive groups of people to play, just like with
“Fortnite`s” popular 100-person mode.

COLIN SEBASTIAN, R.W. BAIRD ANALYST: The battle royale mode is
becoming popular, not just with “Fortnite”, but we`ve seen it in other
games as well. And so, for major publishers like EA, like Activision, to
respond quickly to adapt their games to this trend I think is a smart move
and there`s not much at risk for them.

BOORSTIN: Electronic Arts (NASDAQ:ERTS) also announcing a subscription
service, EA Origin Access premier for its PC games, as more game makers
start to embrace this model as a way to bring in new revenue and keep
gamers hooked.

For NIGHTLY BUSINESS REPORT, I`m Julia Boorstin in Los Angeles.

(END VIDEOTAPE)

HERERA: Boston Scientific (NYSE:BSX) is reportedly a takeover target and
that`s where we begin tonight`s “Market Focus”.

“The Wall Street Journal” says the medical device maker Stryker (NYSE:SYK)
made a bid for its rival. A potential deal would create a company worth
more than $110 billion. Boston Scientific (NYSE:BSX) said it wouldn`t
comment on the report. Shares of Boston Scientific (NYSE:BSX) rose 7
percent to $34.32. Meanwhile, shares of Stryker (NYSE:SYK) were off 5
percent to $169.78.

United Airlines said passenger traffic was nearly 7 percent higher in May
versus a year ago. Investors seem to like that news, sending the shares up
3 percent to $72.15.

GRIFFETH: California state officials have revealed that some of the
wildfires in that state last year that killed 46 people were caused by
power lines operated by the utility Pacific Gas and Electric. Officials
also said there is evidence that PG&E violated state laws, which is a sign
and they may face legal issues at some point. Shares of PG&E fell 4
percent with $39.76.

Dave & Buster reported a smaller than expected decline in same store sales
after the bell tonight. The restaurant and gaming chain also gave guidance
for the year that was in line with estimates and announced that its CEO is
retiring but he will remain as chairman. Shares were initially higher in
the extended session. They finished the regular day up a fraction at
$47.83.

Also after the bell tonight, RH, formerly known as Restoration Hardware,
reported earnings that top estimates for the full year. RH also sees
earnings ahead of expectations. Shares were initially higher in
afterhours. They finished the regular session up nearly 5 percent to
$118.73.

HERERA: Coming up, do you want to age in place? Well, then you also need
to consider aging in the right place.

(MUSIC)

HERERA: The governor of New Jersey signed a bill into law today that
legalizes sports betting at casinos and racetracks. It`s estimated that
the law will generate about $13 million for the state in the first year of
operation. Last month, New Jersey prevailed in a Supreme Court case which
struck down a federal law which had limited sports wagers. New Jersey`s
law follows a similar one in Delaware.

GRIFFETH: The head of Walt Disney (NYSE:DIS) animation and cofounder of
Pixar is leaving that company. John Lasseter is going to exit at the end
of the year. He was creative force by movies like “Toy Story”, “Frozen”,
“Finding Nemo.” They brought in billions of dollars at the box office.
The decision was made last Friday and it comes after a six-month leave of
absence for Lasseter for what he described as personal missteps.

HERERA: Being able to afford to stop working is important in deciding when
to retire. But you also want to consider where to live to make sure you`re
aging in the right place.

Our senior personal finance correspondent Sharon Epperson joins us now with
a new report on the best and worst cities to retire to.

It`s great to see you, Sharon.

SHARON EPPERSON, NIGHTLY BUSINESS REPORT CORRESPONDENT: Good to be here.

HERERA: It`s great to have you here.

If you`re trying to decide where to age in place, what are some of the
factors that basically we all should take into consideration?

EPPERSON: Well, we also should take into consideration, because the
majority of Americans want to stay put, they want to stay in their home,
they want to stay in their own community. And some of the things to
consider, a new survey out by Magnify Money looked at these factors such as
lifestyle, how much you`re volunteering, how much you`re engaging in the
community as part of the lifestyle component, cost of living, of course,
you`re renting or owning on a fixed income, so that`s so very important.

And also medical quality and cost. Medicare does not pay for everything
when you`re a senior and many seniors don`t realize that and need to know
how much is coming out of pocket so that was a consideration. And also,
access to assisted living and that includes home health care providers, as
well as community centers that allow you to kind of age in place there and
get assisted living as you need it.

GRIFFETH: So, bearing all that in mind, what did the survey say about the
worst places to retire then?

EPPERSON: Well, believe it or not, sun and sand in Florida is not
necessarily the place that you want to go to retire. Miami did not do very
well on this list. And a lot of that had to do with the fact that Miami is
one of the places where people are not able to get quality medical care
perhaps at the lowest price as some of the other 50 largest states, cities
in this survey.

The worse, though, was actually New York City. And cost of living, of
course, a major factor, but also access to volunteering and those lifestyle
engagement statistics that many say are important so that people are
looking at for you as you are volunteering and looking out for other
people.

HERERA: All right. What about the best places? Where are we going, Bill?

(LAUGHTER)

GRIFFETH: I`m writing this down.

EPPERSON: The Midwest, Denver and Salt Lake City did very well. Cost of
living there is great. But actually, Portland, Oregon, was the top
contender and a lot of it has to do with the share of people more than any
other city saying that they wanted to move there. Sixty-five and older, if
I`m going to move, I`m moving to Portland.

They are choosing to go there. The cost of living is very good. Health
care services very good. And those are major reasons why people want to go
there.

HERERA: Well, now we know.

All right, Sharon Epperson, as always, thank you.

EPPERSON: My pleasure.

HERERA: To read more about retiring in place, head to our Website,
NBR.com.

GRIFFETH: And finally tonight, Justify, of course, history over the
weekend. Hope you saw that. After winning the Triple Crown, the 3-year-
old colt`s value skyrocketed to $60 million with the potential to go even
higher.

Forbes estimated that Justify could demand an initial stud fee of $100,000
depending on the racing performance of his offspring. The value could
climb. Justify was originally purchased, are you ready? For half a
million dollars.

HERERA: Before we go, here`s a look at how stocks fared ahead of the
U.S./North Korea summit. The Dow added just five points. The Nasdaq was
up 14, and S&P 500 gained about three.

So, that will do it for us tonight on NBR. Thanks for joining us.

GRIFFETH: I`m Bill Griffeth. Have a great evening. Age in place. It`s a
wonderful concept. We`ll see you tomorrow.

END

Nightly Business Report transcripts and video are available on-line post
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Media, LLC. Updates may be posted at a later date. The views of our guests
and commentators are their own and do not necessarily represent the views
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Business Report is not and should not be considered as investment advice.
(c) 2018 CNBC, Inc.

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