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Thursday, August 1 2013

Thursday, August 1 2013

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Tonight on Nightly Business Report, August begins on a high note as the Dow and S&P hit all-time highs. Is there more money to be made in the market with stocks sitting at these lofty levels?

And, the NBR series on ‘how to navigate long-term care’ continues with a look at the challenges facing the insurance industry and whether there’s any fix in sight.
Tonight on Nightly Business Report, August begins on a high note as the Dow and S&P hit all-time highs. Is there more money to be made in the market with stocks sitting at these lofty levels?

And, the NBR series on ‘how to navigate long-term care’ continues with a look at the challenges facing the insurance industry and whether there’s any fix in sight.

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Published by: Nightly Business Report by CNBC on Aug 05, 2013
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 <Show: NIGHTLY BUSINESS REPORT><Date: August 1, 2013><Time: 18:30:00><Tran: 080101cb.118><Type: SHOW><Head: NIGHTLY BUSINESS REPORT for August 1, 2013, PBS><Sect: News; Domestic><Byline: Susie Gharib, Tyler Mathisen, Bob Pisani, Hampton Pearson, Mary Thompson, EamonJavers, Bertha Coombs><Guest: Michael Ryan><Spec: Business; Economy; Stock Markets; Trade; Policies; Abuse; Justice; Trials; Consumers;Retail Industry; Taxes; Insurance; Health and Medicine><Time: 18:30:00>ANNOUNCER: This is NIGHTLY BUSINESS REPORT with Tyler Mathisen andSusie Gharib, brought to you by --(COMMERCIAL AD)SUSIE GHARIB, NIGHTLY BUSINESS REPORT ANCHOR: Record breaker. TheDow and S&P 500 hit all-time highs, and the NASDAQ scores its highest closein 13 years. But will tomorrow`s employment report change all that?
 
 TYLER MATHISEN, NIGHTLY BUSINESS REPORT ANCHOR: Verdict. Theformer Goldman Sachs (NYSE:GS) trader who became a symbol of Wall Street greed anddeceit during the financial crisis is found liable of defrauding investors.GHARIB: And long-term care insurance. The industry is shrinking, premiums are soaring, and many say, the system is rife with problems. Isany there fix? Find out in part two of our special series, "How to Navigate Long-Term Care."We have all that and more tonight on NIGHTLY BUSINESS REPORT for Thursday, August 1st.MATHISEN: Good evening, everyone, and welcome.Stand back, get out of the way, stocks are on a roll. Unstoppable?Of course, not. But moving nonetheless into pricey new neighborhoods. New all-time closing highs today for the Dow, the S&P 500, the S&P400, the mid-cap stocks, the Russell 2000, the small cap shares and the Dowtransports. And the NASDAQ shooting to levels not hit since September 2000.At the close, the Dow ended 128 points higher, the NASDAQ ahead by 49,and the S&P 500 added 21, closing above the 1,700 mark for the first time
 
ever.Crude prices also shot up today, seeing their third best gains so far this year, up nearly $3 a barrel to close just below $108. Positiveeconomic data from China, Europe and here in the U.S. set the table for today`s stock market feast.With more on what drove stocks to those record highs today, we turn toBob Pisani at the New York Stock Exchange.(BEGIN VIDEOTAPE)BOB PISANI, NIGHTLY BUSINESS REPORT CORRESPONDENT (voice-over): For agood part of this earning season, we`ve heard comments from companies thatlackluster earnings in the first half should improve in the second half,along with the economy. Well, today, the bulls got some ammunition as aJuly manufacturing report for the United States came in stronger thanexpected, with strong showings for new orders, as well as employment.Manufacturing reports in Europe and China were also a bit better thanexpected. The major industries reacted by moving to historic highs.That`s a bit of a surprise considering that interest rates yields on this10-year Treasury bond moved up, as well. In the past higher rates haverattled stocks but maybe that`s changing.

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