Transcript: Nightly Business Report – August 28, 2015

NBR-ThumANNOUNCER: This is NIGHTLY BUSINESS REPORT with Tyler Mathisen and
Sue Herera.

SUE HERERA, NIGHTLY BUSINESS REPORT ANCHOR: Tumultuous week. Stocks
close out the week on a calmer note, but the wild swings remain with
investors. The question is — what have we learned?

Finding value. Following this recent turbulence, our monitor has some
winners in sectors that may have been left for dead.

And crisis and recovery. A look at how New Orleans is faring ten
years after Hurricane Katrina.

All that and more on this Friday, August 28th.

Good evening, everyone, and welcome. I`m Sue Herera. Tyler Mathisen
is off tonight.

Taking a breath. That`s what investors seemed to do following a week
of restlessness on Wall Street. After several point losses and severe
point losses on Monday and Tuesday, then big gains on Wednesday and
Thursday, stocks were pretty calm throughout today`s session.

By the close, the Dow lost 11 points to 16,643. The NASDAQ climbed
15, and the S&P 500 added more than a point. For the week, believe it or
not, the Dow and the S&P 500 rose about 1 percent. The NASDAQ gained more
than 2.5 percent.

But with that gain, the NASDAQ recovered a nearly 9 percent plunge
from earlier in the week, its biggest intraweek reversal ever.

And that is just the tip of the iceberg. When looking back at what a
wild week on Wall Street it really was.

(BEGIN VIDEOTAPE)

UNIDENTIFIED MALE: There is the opening bell.

UNIDENTIFIED MALE: Guys, the Dow is now down 1,000 points.

UNIDENTIFIED MALE: There was real genuine panic selling like I
haven`t seen in years.

UNIDENTIFIED MALE: These are enormous moves.

UNIDENTIFIED MALE: Things that were making my eyes pop out of my head
when I was watching here.

UNIDENTIFIED MALE: As of this moment, it is the strongest rally of
the year.

UNIDENTIFIED MALE: We`re in sort of a very strange uncharted
territory right now.

UNIDENTIFIED FEMALE: Volatile final hour of trading turning this
rally into a decline.

UNIDENTIFIED FEMALE: Trading was chaotic. The Dow cratering into the
close.

UNIDENTIFIED MALE: We`re now heading back up.

UNIDENTIFIED FEMALE: The markets rebounding today, but it has been a
wild week of volatility.

UNIDENTIFIED MALE: For those people who were waiting and hoping that
they would take advantage of a meltdown found that the clock was running
out.

UNIDENTIFIED MALE: Markets just don`t go up forever.

UNIDENTIFIED FEMALE: We have another roller coaster session on Wall
Street.

UNIDENTIFIED FEMALE: Have we bottomed here and are we going to the
upside?

UNIDENTIFIED MALE: You have to go back to Black Monday 1987 to get
this kind of volatility in the market.

UNIDENTIFIED FEMALE: If you think the stock market has seen wild
swings this week, check out what is happening to oil, crude soaring again
today.

UNIDENTIFIED FEMALE: Here`s how we`re finishing the day. The Dow
only giving up 14 points into the close. The S&P and the NASDAQ today did
turn positive there at the end of the session. A wild week on Wall Street.

(END VIDEOTAPE)

HERERA: But it`s Friday, finally.

Brian Jacobsen joins us to discuss what we`ve learned after this
tumultuous week on Wall Street. He is chief portfolio strategist at Wells
Fargo (NYSE:WFC) Advantage Funds.

Nice to see you, Brian. Welcome back.

BRIAN JACOBSEN, WELLS FARGO ADVANTAGE FUNDS: Thanks, Sue. Thanks for
having me back.

HERERA: Let`s start with basically that question. What have we
learned through this whole week?

JACOBSEN: Well, I think that there`s really two big lessons from
this.

Number one is that investing entails taking on risks, and sadly we`ve
been sort of lulled into a sense of complacency over the last few years
without a lot of volatility in the markets since the last correction, if
you define that as a peak to trough of about 10 percent of the S&P 500. We
haven`t seen that in quite a long time. So this is a reminder those types
of things do happen.

However, I think the second lesson is also that sometimes the best
thing to do in a crisis is to really do nothing. What we saw on Tuesday
was actually sort of nationwide redemptions from mutual funds, exchange-
traded funds and the such, and that was just as the market was beginning to
go back up. So sometimes people react, and reacting is sometimes a
negative thing to do to your portfolio.

HERERA: So what do you do now? Is this an opportunity, perhaps, a
gut check in a way?

JACOBSEN: Yes. It did feel like a gut check because sometimes those
reminders come out of the blue and they are painful. I think that this is
a good opportunity for investors to sort of look at their portfolio and
think about where do they want to be positioned for the longer term.

When I talk about longer term, it`s not about where do you want to be
over the next, say, you know, ten days, it`s where do you want to be over
the next three years. And for that I think there`s still some tremendous
opportunities in foreign markets for U.S.-based investors to take advantage
of at these slightly lower levels.

HERERA: What markets do you like in particular outside of the United
States?

JACOBSEN: Yes, two of my favorite arias, I like Europe. I think that
Europe is returning to growth. Some of the economic data, the fundamentals
there appear to be improving. And the valuations based on, say, price-to-
earnings and the such, are much more attractive there than they are in the
United States.

Another area is the emerging markets. Now, emerging markets have been
in a bear market, that`s more than 20 percent down from their peaks back in
September. But there, if you`re discriminating about where you invest, I
think you can actually find some very good long-term opportunities.

HERERA: What does oil tell you? I mean, we`ve seen a huge move in
oil. Everybody thought that oil was going much further to the downside.
Now, we`ve had this key reversal in the oil market, meaning that we`ve
almost made a V-shaped bottom in oil.

What is that telling you about the economy?

JACOBSEN: Yes. I`m not sure what to read from oil as far as what the
economy. I think that what it tells us with this V-shaped move, it`s more
like a short squeeze in a way where suddenly everybody is piling into
shorting it and then it bounces and everybody gets squeezed out of it,
because I think oil is heading back towards about $60 per barrel.

The big move down was probably triggered by fears about slightly
slower growth than what a lot of people anticipated. Also, we didn`t see a
lot of supply response until really this week. We heard suddenly about
firms deciding to cut back on their exploration activities. So, if you
have a little bit less supply in the future, a little more demand, that
should push prices higher.

HERERA: We briefly were in correction territory for all three of the
major indices this week. Does that satisfy those traders and investors out
there who have been looking for a 10 percent correction in this market to
keep the bull market healthier in the long run?

JACOBSEN: Honestly, I hope it does, because I actually don`t think
that the correction was justified on the basis of the fundamentals. It was
probably based upon people just overreacting to slightly mildly negative
information coming out of China.

So, hopefully, this is almost like cathartic where it gets it out of
people`s systems to remind them in bull markets even, you can have these
corrections. But the key thing is to focus more on that longer term. I
think we probably have at least about two more years left to this bull
market.

HERERA: All right. On that note, Brian, thank you. Enjoy the well-
deserved weekend.

JACOBSEN: Thank you.

HERERA: Brian Jacobsen with Wells Fargo (NYSE:WFC) Advantage Funds.

Well, one of the concerns hanging over this market as you know has
been the timing of a possible interest rate hike by the Federal Reserve.
Some rumblings of the Fed gathering in Wyoming is suggesting that those
that think a September hike is off the table might need to think again.

Steve Liesman has the inside word from Jackson Hole.

(BEGIN VIDEOTAPE)

STEVE LIESMAN, NIGHTLY BUSINESS REPORT CORRESPONDENT: A top Federal
Reserve official speaking beneath the sun-lit Teton Mountains in Jackson
Hole today shed a little light on whether the Fed would hike in September.

Fed Vice Chairman Stanley Fischer said a September rate hike which
would be the first in nine years is still on the table. Fischer said it
depends on the economic data and the markets in the next two weeks. But he
was clear about which way the rate needle is pointing.

STANLEY FISCHER, FEDERAL RESERVE VICE CHAIRMAN: We`re heading in that
direction. The — what`s happening in particular with the labor markets,
we`ll have to see if that continues when we get the data for next week, has
been impressive, and the economy is returning to normal. We`re not certain
we`re there yet.

LIESMAN: Fischer`s comments come after a wild 10 days on Wall Street
that began with a Chinese devaluation and saw a huge daily hundred-point
market swings. Many connected them to the chance of a Fed hike.

FISCHER: We`ve got time to wait and see the incoming data and see
exactly what is going on now in the economy.

LIESMAN: Fischer tried to ease market concerns over the rate hike,
saying the Fed could indeed stop for a while once they do a single hike.
But not all Fed officials are convinced. One of the most dovish members of
the Federal Open Market Committee, Minneapolis Fed President Narayana
Kocherlakota, cautioned that the market is sending a message the Fed should
listen to.

NARAYANA KOCHERLAKOTA, MINNEAPOLIS FED PRESIDENT: The market
volatility actually does matter. It`s not so much a cause but as a signal.
I think it is a signal of uncertainties about the global level, about
global demand in particular going forward. I view though those as
representing a tail risk.

LIESMAN: That puts extra pressure on next week`s jobs report. A
strong payroll number and calm financial markets could well light the way
to the first Fed hike.

For NIGHTLY BUSINESS REPORT, I`m Steve Liesman in Jackson Hole,
Wyoming.

(END VIDEOTAPE)

HERERA: Well, the Fed says it is data dependent, and today, we got
some more data, and it was a batch of mixed reports on the health of the
consumer, the backbone of the U.S. economy. The Commerce Department found
that Americans made more and spent more in July. Income rose 0.4 percent,
spending wasn`t far behind. But consumer confidence declined to a three-
month low in August, missing expectations.

As we mentioned, not only was it crazy this week for stocks, there
were huge moves in oil prices. Domestic crude had its biggest two-day
percentage gain since 2009 as traders were betting on lower prices and then
had to cover those bets. Prices were up 6 percent today to $45.22 a
barrel. For the week, prices rose nearly 12 percent. Crude`s first weekly
gain in some two months.

Well, everyone is on edge because of all of this volatility. We`re
looking for market signals in unexpected places. This year`s great
American trucking show may not seem like the typical venue for investment
advice, but America`s biggest transports are an important economic gauge.

Morgan Brennan is in Dallas with the lowdown on big rigs.

(BEGIN VIDEOTAPE)

MORGAN BRENNAN, NIGHTLY BUSINESS REPORT CORRESPONDENT: Each year,
hundreds of truck owners descend upon Dallas, where with their tricked-out,
meticulously decorated big rigs to face off in the largest truck beauty
pageant in the country.

UNIDENTIFIED MALE: Today, I`m here vying for a national championship
in the pride and polish division.

BRENNAN: While these drivers are competing for cash prizes and
bragging rights, fleet executives are sounding off on the economy. Nearly
three-quarters of all freight tonnage in the U.S. is moved at some point by
a truck.

Swift Transportation president and COO Richard Stocking says based on
how much his trucks are hauling right now, he expects consumer spending to
pick up in a meaningful way headed into the holiday season.

RICHARD STOCKING, SWIFT TRANSPORTATION PRESIDENT & COO: If you look
at history, it`s been about weather. Before we go into recessions and we
come out of recessions, we typically see it beforehand, and I think it
tells us that we don`t have to jump off a cliff, that things are steady,
they`re strong, and we think we`ll have a vibrant fourth quarter.

BRENNAN: And Swift isn`t alone. Covenant Transportation, which
specializes in moving expedited freight for retailers and e-tailers, also
anticipates a very busy peak season.

DAVID PARKER, COVENANT TRANSPORTATION GROUP CEO: We are expecting a
lot of great things in the second half. The expedited e-commerce is a
niche we do extremely well and a lot of business in e-commerce. Every one
of our customers are anticipating a very good fourth quarter.

BRENNAN: According to Avondale Partners, over the past 40 years,
trucking tonnage has predicted every single recession and recovery. Right
now, it`s indicating a steady strengthening of the economy.

But the trucking industry is facing its own headwinds, most notably a
steep driver shortage. The American Trucking Association estimates as many
as 40,000 workers are needed right now. To recruit and retain drivers,
companies are hiking pay, adding benefit, and letting some help design
their own trucks. Warner Enterprises is also aggressively targeting women,
who make up a mere 5 percent of the industry.

DEREK LEATHERS, WERNER ENTERPRISES: We`re now approaching 10 percent
of our fleet being female drivers. Their accident rates are better, their
pulling rates, their inspection rates are better. They`re just doing a
really good job. We found that they`re very diligent, very detail-
oriented.

BRENNAN: Another big focus for trucking right now, automation. With
Daimler and Mack trucks marketing vehicles outfitted with smart technology
such as cameras and radar systems that relay markings and issue warnings if
another vehicle gets too close.

All of which begs the question, when will trucks be driving
themselves? While Daimler unveiled an autonomous vehicle earlier this
year, the consensus here is that due to regulations and the insurance
industry, big rigs like this won`t be fully self-driving anytime soon.

For NIGHTLY BUSINESS REPORT, I`m Morgan Brennan in Dallas.

(END VIDEOTAPE)

HERERA: China may have been a horror show for investors this week,
but Tinseltown is still betting big that working with that country will be
a Hollywood ending. We`ll tell you why next.

(MUSIC)

HERERA: Twitter unveiling an ambitious diversity initiative. By 2016
the social media company hopes to increase the number of underrepresented
minorities on its staff substantially. Last year, the firm reported that
70 percent of its employees are men and the majority of its staff are
white. The company says it wants its makeup to reflect the range of people
that actually use its service.

Concerns over the Chinese stock market and that country`s growth
prospects may have spooked investors, but it isn`t scaring Hollywood
studios which are still bullish and are continuing to bet big on the
potential for the Chinese box office.

Julia Boorstin takes a look.

(BEGIN VIDEOTAPE)

JULIA BOORSTIN, NIGHTLY BUSINESS REPORT CORRESPONDENT: The Chinese
box office is booming up more than 60 percent so far this year, over the
same period last year, after growing more than 30 percent per year for the
past decade, according to Rentrak (NASDAQ:RENT). It`s on track to
surpassed the U.S. box office by 2017.

Warner Brothers is now in talks to create a joint venture to co-
produce local-language movies in China and distribute them there.

JEFFREY LOGSDON, JBL ADVISORS: The fastest route to gaining access to
the Chinese market or even expanding the access one studio or another has
is by partnering with people in China.

BOORSTIN: Warner Brothers will be joining Disney (NYSE:DIS), 21st
Century Fox, and DreamWorks Animation, all of whom are similarly partnering
to co-produce and distribute films with Chinese companies.

Hollywood`s Chinese-language productions in the works are in in
addition to the boost they`re getting from a growing appetite for their
English language films in China. This year, universal`s “Jurassic World”
had the biggest global opening weekend in history thanks in large part to
its $99 million opening gross in China. Marvel`s “Avengers: Age of Ultron”
was Disney`s biggest ever release in the country.

And analysts are bullish that those Chinese box office dollars will
keep on flowing to Hollywood regardless of the country`s stock market and
currency fluctuations.

LOGSDON: I think that a change in currency valuation doesn`t really
affect any individuals in China who want to go to the theater. They`re
going to continue to pay that U.S. equivalent of $2, $3, or $4 for a movie
ticket, and that`s still an attractive value proposition for their
entertainment dollar.

BOORSTIN: The downside, Hollywood Studios bring home just about a
quarter of their Chinese box office gross as a result of government
restrictions, that`s about half the percent studios get from feeders here
in the U.S. But it`s still a positive for Hollywood studios. It`s money
they didn`t earn for Chinese moviegoers got hooked.

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

(END VIDEOTAPE)

HERERA: Mylan (NASDAQ:MYL) gets the go ahead on its proposed takeover
of Perrigo (NASDAQ:PRGO), and that`s where we begin tonight`s “Market
Focus”.

Mylan`s shareholders overwhelmingly approved the drug maker`s bid for
Perrigo (NASDAQ:PRGO). And this allows the firm to launch a tender offer
for the company`s shares in the next few weeks. Perrigo (NASDAQ:PRGO) has
rejected the deal and said it doesn`t think its own shareholders will sell
shares to the firm. Mylan (NASDAQ:MYL) was off 2 percent to $50.37.
Perrigo (NASDAQ:PRGO) also slipped. It slipped 1.5 percent to $185.42.

Shares of United Continental and Activision Blizzard (NASDAQ:ATVI)
rose in today`s session. The airline and the videogame maker were added to
the S&P 500 index. The firms will replace Pall (NYSE:PLL) Corp and Hospira
(NYSE:HSP) on September 2nd, after the market closes. United Continental
popped 7 percent to $57.12. Activision Blizzard (NASDAQ:ATVI) was more
than 4.5 percent higher. It finished at $29.22.

Dow components Apple (NASDAQ:AAPL) and Boeing (NYSE:BA) are reportedly
teaming up with the Department of Defense. The firms will be creating
wearable technology for the U.S. armed forces. Apple (NASDAQ:AAPL) was up
a fraction to $113.29. Boeing (NYSE:BA) was up 1 percent to $133.24.

Gamestop (NYSE:GME) beat Wall Street`s earnings and revenue estimates.
The video game seller issued guidance that disappointed some investors.
So, shares tumbled 8 percent, making it the worst performer in the S&P 500
today, closing at $42.49.

And Big Lots (NYSE:BIG) also reported results that topped consensus.
The firm hiked its full-year forecast as improvements in its merchandise
mix helped results. The shares climbed more than 15 percent to $48.58.

And now to our market monitor who likes deep value stocks. He says
investors should be buying at these lower levels. The last time he was on
in December, he recommended ExxonMobil (NYSE:XOM), which is down 20 percent
because of the drop in oil prices, Europe Hedged Equity down ust a percent,
and Memorial Production Partners is off more than 50 percent.

Gregg Abella is a portfolio manager at Investment Partners Asset
Management.

Nice to see you. Welcome back.

First of all, tell me what you see in this week`s action. What does
it tell you about the market?

GREGG ABELLA, INVESTMENT PARTNERS ASSET MANAGEMENT PORTFOLIO MANAGER:
The market`s trying to digest a number of different data points. Data out
of China that doesn`t seem to sync up with a country that`s growing at 7
percent GDP. Currency devaluations that are trying to sync up to try to
get exports in line for a lot of developing countries.

HERERA: So, just a lot of noise out there —

ABELLA: A lot of noise.

HERERA: — in the market.

All right. Deep value stocks. For those who don`t know, what
basically are they?

ABELLA: The companies that tend to trade at discounts to their book
value or trade at deep discounts to their earnings and they`re companies
that may be in a turnaround phase.

HERERA: OK. Let`s look at your picks. We mentioned Memorial
Production Partners, which you had last time. So, you still are
recommending that stock. Why?

ABELLA: Well, the price target for Memo (ph) is still roughly about
the same level as the last time I was on. It trades in line with oil, but
it`s one of the most rigorously hedged master limited partnerships in this
the space and pays a really nice cash distribution currently at 17 percent
at this level.

HERERA: Wow.

And the price target is $13.31. Government Properties Real Estate
Investment Trust. GOV is the symbol.

ABELLA: If you`re an investor who wants the government to pay you,
this is a good place to start. It`s a real estate investment trust that
owns government office buildings, pays a 10 percent dividend yield.
Government tends to pay its rent on time.

HERERA: And are they long-term tenants?

ABELLA: They tend to be very long term.

HERERA: Is U.S. government a long-termer?

ABELLA: They tend to be very long-term tenants. And the buildings
are green buildings so it`s not easy for the government to move out of one
building into another.

HERERA: Does a change in interest rates affect a real estate
investment trust the same way it might affect another real estate-type
property?

ABELLA: That or any fixed income investment. I think that`s already
been discounted in the price, which is why it`s down so much. But, you
know, at about seven or eight times earnings, it`s cheap.

(CROSSTALK)

HERERA: Yes.

ABELLA: Plus, the yield.

HERERA: Micron, that stock has been really hit very, very hard.

ABELLA: Very hard. And trading at these cheap levels is attracting
value investors like myself and also has union group from China who`s
apparently trying to make a takeover bid for $23 billion. I don`t know if
it will be successful.

But at this valuation, it`s cheap enough I think that it`s attracting
a lot of interest.

HERERA: So, it would be a deep-value stock, but you also could play
it for the potential of takeover.

ABELLA: You could. Also, you could wait for a potential of growth.
They just developed with Intel (NASDAQ:INTC) a microchip that`s — a NAND
chip that is 1,000 times faster and has ten times the storage of other NAND
competitors. So —

HERERA: How long do you usually hold a position in any of these deep-
value stocks? Long term or short term?

ABELLA: Very long term usually. And, you know, particularly the ones
that are paying income, and if you believe oil prices in the case of
memorial ultimately will be way higher, it`s something that you hold for
the very long term and get paid while you wait.

HERERA: Now, you mentioned the memorial production. With oil prices
being so volatile this week, does that make a difference in the way you
look at the stock? Because now, we`re up above $45 again.

ABELLA: I think some of that is in short covering from people that
we`re expecting the price to go way into the 30s and it didn`t happen.

HERERA: So, it`s not a fundamental for this particular stock.

ABELLA: It trades in line with oil, so you have to take that into
account. But ultimately, I think that oil will probably end the year
somewhere around $60, and then further in the future will be substantially
higher.

HERERA: OK, Gregg, thank you. Have a great weekend.

ABELLA: Thanks for having me.

HERERA: Nice to have you here. Gregg Abella with Investment Partners
Asset Management.

Hurricane Katrina brought devastation to New Orleans nearly ten years
ago to the day. It may be a decade, but the city is still on the road to
recovery. We will take you there next.

(MUSIC)

HERERA: Here is what to watch next week. More Fed speak. We`ll hear
from two Fed presidents, lots of data, including the ICM manufacturing
index, auto sales and international trade, and Friday is jobs day. We`ll
get the employment report from August. And that is what to watch next
week.

Residents and insurers in South Florida are prepping for the possible
arrival of tropical storm Erika. The governor has already declared a state
of emergency. The storm is forecast to reach the area sometime on Monday.

Hurricane Katrina made landfall in Louisiana ten years ago tomorrow.
It remains the costliest natural disaster in U.S. history. So, what
happens when a major U.S. city has a near-death experience and now, we have
a much better idea a decade after that storm nearly wiped out New Orleans.

Scott Cohn covered that disaster in 2005. He is back in New Orleans
to report on a decade of ups and downs.

(BEGIN VIDEOTAPE)

SCOTT COHN, NIGHTLY BUSINESS REPORT CORRESPONDENT: The floodwaters
are long gone.

UNIDENTIFIED MALE: As long as this levee remains open and broken like
this, the water will continue to flow.

COHN: But destruction is still here. The population in the Lower
Ninth Ward a fraction of what it was.

M.A. SHEEHAN, HOUSE THE 9 PROGRAM DIRECTOR: This is the question by
which the recovery of New Orleans must be judged. And until already more
than 34 percent people back here, the recovery of New Orleans is not
complete.

COHN: Other parts of the city are doing much better. The city`s more
middle-class lake view section is buzzing with construction. At the Data
Center, a nonprofit group established well before the storm, researchers
have been working to make sense of it all.

ALLISON PLYER, NEW ORLEANS DATA CENTER: Folks who are going OK or are
well before a disaster do better. They benefit from the infrastructure
investments and various improvement where is folks who were either poor or
had bad health before the disaster really struggle to rebound.

COHN: While poverty is twice the national average, New Orleans`
overall economy is strong, thanks in part to $140 billion in government
spending since the storm.

MICHAEL HECHT, GREATER NEW ORLEANS INC: We have one of the fastest
growing economies in the nation, number one in population growth, number
two in per capita GDP growth. We`re first in export growth.

COHN: Also crucial, support from companies that could just as easily
have given up on New Orleans. Zurich Insurance says it`s given $13 million
in contributions.

MIKE FOLEY, ZURICH INSURANCE NORTH AMERICA CEO: We`re very confident
that the result of acting, you know, what we think is correctly and in the
most socially responsible way comes back to us in multiple dividends over
time.

HECHT: Big corporations like Entergy (NYSE:ETR), like Shell, like
Chevron (NYSE:CVX), double down on their commitment to the city, to the
region, and I think in large part as a result of that, New Orleans today is
much more vibrant than it`s been since the late `60s.

COHN: That kind of commit suspect more important than ever now as the
memories and the money from Hurricane Katrina begin to fade, leaving New
Orleans to move forward on its own two feet.

Scott Cohn, NIGHTLY BUSINESS REPORT, New Orleans.

(END VIDEOTAPE)

HERERA: And finally tonight, say good-bye to the Goodyear blimp. The
iconic airships that you`ve surely seen floating over sporting events are
being retired. They`ll be replaced by a new airship and you probably won`t
be able to tell much of a difference. The new airships, which aren`t
technically blimps are quieter and faster, making them easier to maneuver
for the camera crews that are always on board.

And that will do it for NIGHTLY BUSINESS REPORT for tonight. I`m Sue
Herera. Thanks so much for joining us this week. Have a great weekend,
everybody. We`ll see you again on Monday.

END

Nightly Business Report transcripts and video are available on-line post
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on Nightly Business Report is not and should not be considered as
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