Performance since april, reversing the losses that besieged the market last week. The mood on wall street improved on easing tensions with north korea thanks to an opped written by the secretaries of state and defense who said the administration would continue to pursue diplomatic resolutions with pyongyang. Now, add to that a solid quarter of corporate earnings, and stronger than expected growth in japan, and stocks took off. The Dow Jones Industrial average rose 135 points to 21,993. The nasdaq gained 83. And the s p 500 advanced 24. Dominic chu watched the rally from the floor of the new york stock exchange. Reporter it didnt last very long. What was shaping up to be a bigger scaled downturn in the stock market ended up fizzling out like its done consistently over the past year. On a Bigger Picture basis, major indices posted declines of around a couple percent only to bounce back today with gains in tech stocks and bank stocks. The general consensus among many traders is that geopolitical risks arent as big a risk yet. I think as we continue to get headlines out of north korea, investors have seen that the situation there might have calmed down a little bit for now and using this as an opportunity, but time will tell how it really plays out. Reporter the lack of new developments related to north korean intentions may help lift e horizon that arent related to potential armed conflict. There are two things the markets care about. One is on a daytoday basis, earnings per share and revenues, how the corporations are faring against competitors within their own sectors. Secondly, you want to go out two, three weeks, central banking becomes a big issue once again. Mario drahgi will speak at jackson hall. This will impact treasury yields. Reporter later on this week, big earnings reports from retailers like home depot, target and walmart. The kansas city Federal Reserve banks annual meeting in wyoming takes place next week. It has produced marketmoving statements in the past and could this time around as well. All in the context of what could happen down the line with the u. S. And global Interest Rate picture. For nightly business report, m dominic chu at the new york stock exchange. Here to talk more about todays snapback in the market, what he sees ahead for stocks and more, michael barr, president of barr, Miller Washington in washington, d. C. Michael, welcome. Thank you. Theres been a tussle in recent weeks, on one hand, fear, on the other hand, fuchndamenta. Last week it seemed as though fear had the upper hand, today it looked like fundamentals did. I got that right . Well, it seems that way, tyler. Thats a good way to describe it. Fear last week, certainly as the rhetoric in north korea built, but fear led to a 1 pullback. I think we recovered president in the first 20 minutes of trade today. Markets cant be kept down right now. Psychology is bullish. Bad news is getting dismissed and discounted. Whether it was the mother of all bombs in afghanistan, missiles launched at syria or acts of terrorism or now really markets are in the up mode, they tend to stay that way and earnings are actually coming in to support this market increase. Now in the past, michael, youve been a little bit nervous, perhaps, about some of the valuations. Still finding opportunities, essentiall ly new share that with our viewers. How do you think of valuations now . I think theyre full. The market is trading near 20 times earnings is still an expensive market. I think a market thats making new alltime highs, fractions off of 22,000 today, so this is a high market and if the rule is to buy low and sell high, this is not low by any measure. So weve been running on expectations of change policy. Of all of these other good things, but earnings are improving and if earnings in the forecasts are right and the Interest Rates stay where they are and the dollar stays where it is and Everything Else doesnt really move around were at 17 times 2018 earnings, it wouldnt be awful. So i find myself holding my breath a lot in a very worried way because i manage other peoples money. Give me about 30 seconds on your view about energy. That is an area that you think may be ready for a little bit of a rebound. Reporter well, i think it may be. Certainly saw energy fall today. We saw oil fall back. Energy really has been dictated a lot by controlling of supply out of should ra. Chinas weaker Economic Data today may indicate the demand is not quite there, so we might see a little bit of a bounceback in here, could be more of a technical bounceback, but there seems to be plenty of oil overall. All right. Michael, thank you very much. Michael farr, farr, Miller Washington. Thank you. At the white house the president denounced White Supremacists and racist violence two days after bloody demonstrations and bloody car attack in charlottesville, virginia. Racism those who cause violence in its name are criminals and thugs including the kkk, neonazis, White Supremacists and other hate groups that are repugnant to everything we hold dear as american we are a nation founded on the truth that all of us are created equal. His remarks follow criticism that his initial statement over the weekend stopped short of condemning racist groups specifically. That prompted the ceo of merck, ken frazier, to resign from the president s American ManufacturingCouncil Early this morning. In a statement, he said, as ceo of merck and as a matter of personal conscience, i feel a responsibility to take a stand against intolerance and extremism. The president responded in a tweet saying, ken frazier of merck pharma has resigned from president S Manufacturing council. He will have more time to lower ripoff drug prices. Well, the ceo of merck was the only executive to resign from that council. Other executives publicly denounced hate, racism and bigotry along with members of the president s party. John harwood is following the story from washington. John, you know, the president kind of took a mulligan today i would call it. Whats been the broader reaction in business and politics to his handling of the Charlottesville Violence . Reporter well, ceos like ken frazier, tyler, decided that they werent going to need a mulligan, they were going to act more quickly so you saw in addition to his resignation, you saw people like Lloyd Blankfein of Goldman Sachs putting out statements saying they were going to denounce the intolerant groups, White Supremacists and the kkk that the president had been reluctant to. They have their eyes on a broader constituency than the president s seem to this weekend, though he did step in today under pressure and make that t. You know, he was around the president was roundly criticized by both parties over the weekend. What does that tell us about the state of the Republican Party in particular . Reporter sue, donald trump executed a hostile takeover of the Republican Party last year. He beat a bunch of republican figures. He won the nomination. He got elected. Members have been tolerating him, republican elected officials, because they share many os policy goals. But the longer we get into the year, the more trouble with the special counsel investigation, the more difficulty with the agenda on things like health care, the more people are deciding not to submerge their personal feelings so you saw over the weekend some republican senators criticizing President Trump more pointedly than they have so far. That is a potentially dangerous situation for President Trump because he needs political protection as he moves on in his presidency and bob mueller moves on in his investigation. What could that restiveness in the gop, particularly maybe in the senate and the house, among officeholders, what could it mean for the president s broader policy agenda . Reporter to do a big reform agenda, like, say, of the tax code, you need a united party, strong president ial leadership. Anything that drives a wedge between the president and his party or anything that creates turmoil within the administration, and theres some talk of a new staff shakeup, all that makes the agenda much more difficult to enact. All right, john. John harwood in washington. And at the center of all of this is charlottesville, virginia, a city thats long been a destination for toptier College Students and more recently retirees, but this quiet enclave 100 miles south of washington was targeted over the weekend by White Supremacists. They were enflamed by the citys plan to remove a Civil War Monument from a city square. Kayla tausche reports on how local businesses there are responding reporter for Companies Like mobile app developer willow tree, the events of this past weekend dont shake its resolve to grow its business in this college town. We are a community about diversity, were about inclusion, were about respect, and if anything, were going to double down on those things. Not just as a community, but as a business. Reporter charlottesvilles economy is healthy. Employment and income above the national average. And it consistently tops lists for the best place to live. Local leaders were stunned after saturdays rally turned fatal. The state of emergency shutting down businesses for the day. Things are getting tumultuous over here, too. Reporter kayla olson moved here from turkey in search of stability. She runs an accessories vendor downtown and has watched the Political Climate boil over in recent months. Just thinking about it makes me really, really sad, to say the least. Reporter rachel manages a popular restaurant on charlottesvilles outdoor mall and hopes for the best going forward. Think that weve really been in touch with our neighbors here on the mall and been able to communicate and to mobilize in a way that we havent needed to in the past but in a way thats proven, like, pretty remarkable. Reporter statements from univ and the towns mayor have described the White Nationalist movement as one thats converged on, but didnt originate here in charlottesville, but yet the racial tensions here have resulted in a debate over whether to remove statues of confederate generals like this one, now draped in signs bearing the name Heather Heyer who was killed during saturdays protests. The statues issue has been a galvanizing issue. Reporter tim, president of the Regional Chamber of commerce, says recent rallies dont define the town. Nothing has changed other than the fact that we were captured for about 24 hours by folks that would do us harm. They did us harm in the national images, but well get over that. Reporter the lifeblood of the town is the university of virginia whose School Year Begins in a week. Uvas president says there will be healthy opportunities to discuss the issues driving this conversation. For nightly b im kayla tausche, charlottesville, virginia. Still ahead, tracking your health. Why aetna may want millions of americans to wear one of these. President trump signed a memorandum that could lead to a trade investigation of alleged chinese theft of intellectual property. While the measure does not take any specific action against china at this point, it does direct the u. S. Trade representative to look into options to protect American Intellectual pro today im directing the United States trade representative to examine chinas policies, practices and actions with regard to the forced transfers of American Technology and the theft of American Intellectual property we will stand up to any country that unlouawfully forces americ companies to transfer their valuable technology as a condition of market access. And the president suggested that more steps could be taken. And that is not going over terribly well with china which has, to put it mildly, a very complex relationship with the u. S. Eunice yun has more on the reaction from beijing. Reporter the Chinese Government and the state media have been indicating that an investigation could set back u. S. Relations. Officially, Trump Administration officials have said that the trade directive is unrelated to what the president perceives to be chinas lack of action reining north korea. However, based on the president s previous tweets and comments, chinese officials ive spoken to believe hes connecting the two issues and it really bothers them. Today, the Foreign Ministry weighed in saying the Korean Peninsula issue and the trade issue are two different categories. It is clearly inappropriate to use one issue as a tool to press the other issue. The Chinese State media had been threatening retaliation. The china daily said the u. S. Action could trigger a trade war and the global timess, the communist party paper, said we should make washington realize that china is not the one to be messed around with. If you take the chinese threats at face value, the concern now is this could descent into a tit for tat trade war that the Global Business community has been worried about. For nightly business report, will begin the task of rewriting nafta. The president has repeatly said he wants to bring jobs back to the u. S. But what happens to those workers who lose their jobs to trade . Kate rogers takes a look at a federal retraining program. Hi, pat, hi, vicki. Reporter in 2011, after 22 years of the job at americanairlines as a shop mechanic, single father, hugo nieves, found himself out of work. The company filed for bankruptcy and closed down a Maintenance Base in ft. Worth, texas, as part of its restructuring. Nieves role was shipped off to china. You get comfortable in a career that youve been doing for many years and youre at a good place in life, youre making money, youre saving, everythings comfortable. You get taken out of that environment and its a whole new world. Reporter but today, hes bounced back in a very different career as a surgical technologist at Cook Childrens Medical Center in ft. Worth, assisting doctors and patients thanks to a federal Entitlement Program known as trade adjustment assistance, or taa. To become eligible, a person has to be lost his or her job as a result of foreign trade. Taa is administered at the state level and a company, union or group of workers can petition the department of labor for benefits. In 2016, the Labor Department estimates some 126,000 Workers National ly became eligible for taa benefits. While President Trump has emphasized americafirst policies and renegotiation of trade deals to prevent more jobs from being lost to foreign trade, the department did request an increase in funding for the retraining pro in 2018. Nieves home state of texas, 3,500 workers are helped each year and nearly three quarters entered employment once retraining is complete. Some 90 retain their jobs thereafter. Its really an opportunity for a displaced worker to have a second career, have a second chance. Reporter after being notified by americanairlines that he may be eligible for benefits, nieves went back to school at age 45 and retrained to become a surgical technologist. Even taking prerequisite courses in science and going up against younger candidates for his new position. My main motivation isy daughter. Ive been a single father, ie raised my daughter from birth. Its just been me and her. I have to provide a good home for i knew i had to find a career that was beneficial for both her and i, one i could survive on and make a decent living. Reporter while hes thankful for the new career the program afforded him, nieves is hopeful others wont have to rely on taa the way he did. Kate rogers. Us Fiat Chrysler reportedly puts the brakes on a takeover offer. Thats where we begin tonights market focus. According to a report from automotive news, Fiat Chrysler recently rejected the bid from an unnamed chin niece aese auto saying the is too low. Shares of Fiat Chrysler rose more than 8. 5 on the session to finish at 12. 60. The food distributor, cisco, said strength in its International Operations helped the companys results beat estimates. Shares still fell, though, down almost 1 , to 51. 09. Vf corporation which owns brands, the north face and timberland, said it would buy work apparel maker williamson dickey. Vf corp said it would strengthen their work wear business and add to this years earnings and revenue. Shares of vf corp rose 3 . Vm wear expects profits and sales for the Current Quarter to come in ahead of street targets. The provider of Cloud Computing software said its seeing strength across its product p t portfolio and expects the trend to continue. As a result, the company lifted. Shares were higher by 6 . The chinese ecommerce shop jd. Com said marketing costs led to a wider loss in the latest quarter. Still the results were better than expected. Sales rose and topped analyst expectations. Shares fell more than 3 to 44. 25. Apple and aetna reportedly held a series of