That is holding a News Conference in the state capital, austin, as texas battles floods affecting thousands of people. Fortunately, the death toll has not been extensive, that thousands of people have been made homeless and are in shelters the cause of record amounts of rainfall left by harvey. Meantime, the fema administrator is making it clear that the storm devastation stretches beyond houston. He gave an update today on the situation on the ground after harvey made a second landfall. , the effort oned houston. We have to understand there are multiple counties, over 50 counties impacted right now. We are continuing to watch the situation developed. Citizens in louisiana are not in the clear. Administrator long also says the ongoing operation is still in life saving mode. He is encouraging people to find ways to volunteer. Louisiana residents may catch a break. Weather forecasters say they expect less rain and wind from Tropical Storm harvey. Projecting 13 inches of rain across most
To have a lawful system of immigration that serves the national interest, we cannot admit everyone who would like to come here. It is just that simple. Julia not that simple. The president plans to delay the program for six months in the hope that congress can find an alternate a more permanent solution. There are around 800,000 people protected from deportation under daca. Joining me to discuss, bloombergs chief washington sport chief washington whoespondent Kevin Cirilli is live at the capital. And in the studio, marty shanker. Great to have you on. Kevin, let me come to you. It was always going to be about the framing in terms of jeff sections talking about the legality, President Trump coming in with his ax his explanation. Did he do enough to say, we do not want this program to end . Kevin it depends on who you ask. Denouncing this. Just in the last two bank powers, Javier Palomar is of the has stepped down from that diversity panel. Republicans are giving a somewhat tepid respons
Ahead. Abigail, a sea of red right now. Day, sharpbearish declines for the dow, s p, 500, this selloff has been pretty sharp and swift today. We have the smallcap index down about 1 . The russell 2000 higher earlier today. Doing a bit of a bearish reversal as tensions with north korea escalate, as scarlet was mentioning, uncertainty around d. C. Lots for investors to contend with today. The major averages on pace with her worst day since the middle of august. No one point, the dow had been on pace for his worst day since the middle of may and that is true for the 10 year yield. The 10 year yield drops, that tells us even bonds are rallying, down nine aces and. Nine basis points. Point, the 10 year yield had its biggest drop since june of last year. Could affect the fed. Either way, this is affecting the Financial Markets and the fact that financials, that the worst to sector on the day. S p 500 Financial Sector down about 2 . These are bigger movers within that sector. Lots of red here
For our economy over the past several years and persistent increases will only bode well for them. More notes on this puzzle that is facing fed officials over the contradiction between low unemployment and the lack of inflation, they will not get much help from this report, several districts reporting worker shortages on one hand, including atlanta and st. Louis reporting turning down business because they cannot find the necessary workers, but despite all that come a majority of districts reported limited wage pressures and modest to moderate wage growth. So, even though fed officials are facing this decision of whether or not to move Interest Rates up again for the end of the year, theyve been puzzling over the lack of more inflation. Scarlet the conundrum remains. Thank you so much. In two hours. Lose lets get a check on where stocks are trading right now. Abigail in the green. Not much of a reaction to that beige book report. Not much of a reaction to the news that President Trump
Taylor not a whole lot going on here. Smaller gains wednesday. Really nothing here on thursday. The s p and nasdaq mostly unchanged. The nasdaq with slight green on the screen led by the pharmaceuticals. Gilead is still continuing to lead the gains there after the takeover of kite last week. Kite does more cancer drugs. That is one piece of good news with some small gain. I want to focus on the big losers we are seeing. Comcast is one name im focusing on. They are continuing to see increased competition. They may see 150,000 in subscriber losses. Shares down the most in two years. They are trying to slow those losses. You have other tv providers like hulu coming in cheaper with fewer channels. Cutters, ithe cord should note. Disney down 4. 5 . They are seeing profit in line with last year, but thats not good enough for investors. Is expected to be released in the 19. Along with the new espn app as well. Released in 2019. We are keeping our eye on irma. It is looking like it may hit flo