Dealing with what is a very wet and potentially dangerous winter. Reporter yeah, timing is important here, sam and laura. Thats how you got that announcement here in the Mayors Office just wrapping up and mayor ed lee saying the attitude at city hall is theyre always planning for a disaster for the rain. Planning for this apparently last fall coordinating among many agencies. 1,100 beds additionally open with more set aside for overflow in seven dedicated areas in the city where there are more homeless. Setting up in phases of 200 to 300 beds. Theyre working with Salvation Army and providing food. Public works passing out sandbags to Property Owners while several preparing for heavy rains, high winds, power outages, mudslides and landslides and trying to get to as many people as they can. Its about doing the right thing and making sure they take care of communications, their family, their businesses and their neighbors. Reporter and this is happening as federal Disaster Relief workers
Midaugust swoon on wall street t. Dow posting the lowest decline since june. All time high set two weeks ago. Bob, what did you make of todays selloff, bob . Well, it was the worgst in six weeks for the dow. Worse than actually two months i believe for the dow. Im still settling down here. The important thing is, look, bottom line, it was right across the board, risk reduction. We saw consumer stocks. Everything was down 1. 5 to 2 . Look at the dow, after 10 00, we essentially flatlined around 10 00. We ended near the lows for the day. Heres the two headlines we have been talking about all day, whats fair value for the ten year in neb knows. Thats the biggest single issue down here. If you tell me the answer to that, ill tell you where thing will be going. We are not talking the growth. Cisco, macys, walmart throwing that Earnings Growth picture into some kind of doubt t. Result is that risk reduction. I would note moderate volume throughout the day. How about the bellwhether blues, th
Spending, and auto sales. And then finally on friday, we get that big july nonfarm payrolls report. Economists are looking for about 184,000 jobs to have been added for the month. Meantime, the Unemployment Rate is expected to fall to 7. 5 . But joe, its going to be really interesting watching a lousy gdp number, probably a good jobs number and seeing how the tenyear reacts to each of those numbers. How do we know about the jobs number . Were ready for a bad one. You think it will be good because of the claims numbers . I dont know. I dont know either. Were ready for either. How the bond market reacts to good news bad news potentially. And the feds going to be in focus this week. Yep. Talking about the fed . So sick well, if its not humphrey hawkins, a twoday bernanke thing, now its the fom. I dont remember in my life being so controlled by any every fed decision. Then the minutes release later of what they said. Its constant. And theres such a big part of our life. I think its a sad c
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