Tsunami watch has been canceled however city authorities worn that our shoreline, our harbors , the inlets, they could still have some dangerous and unpredictable currents today. They say you should stay away from the coastlines for the next 12 hours. Early this morning the San Francisco department of Emergency Management tweeted People Living within three blocks of the Pacific Coast or five blocks of San Francisco bay should prepare to evacuate. The original tsunami warning was for the original california coast down to the mexican border. A more serious watch was is good for alaska and British Columbia. You are seeing video from kodiak alaska. This anomaly may appear as water moving rapidly out to sea, a gentle rising tide like a flood. A series of breaking free waves or a frothy wall of water. A person caught me drown or be crushed by debris or be swept out to sea. Its advised if there is a tsunami to head to Higher Ground or head inland. Hours tsunami watch has been canceled. We did
Driving through. No major problems driving on 880 two downtown oakland or on 580. At the bay bridge toll plaza we can see traffic is going to be okay as you drive through. No major issues but there is a backup. The metering lights went on around 5 30. At the Altamont Pass we have slow traffic on 580 but its not a huge delay more than you would normally see. If youre driving from livermore to dublin, a looks good. Southbound 880 has slow traffic approaching a crash clearing at decoto. Traffic is slowing down in haywood, union city, as you drive through toward the decoto exit pick a magnitude 7. 9 earthquake struck early this morning off the coast of alaska. The usgs said it happened around 1 30 our time. A warning went out every possible tsunami but that has been canceled. In the bay area we are under a tsunami alert for the next several hours. The sonoma alerts one from alaska down to the california mexico border. About 90 minutes ago tsunami warnings and watches have now been canceled
Interviews coming up over the next couple hours. Have ago. Francine we have a lot of earnings. Descalzi,o, claudio about 10 minutes from now. Accors ceo will talk to us at about 10 30. Stay tuned for all of this. Manus shell is cutting 6. 5 thousand jobs, reducing investment by 7 billion. This comes as the slump in crude oil prices continues to take its toll. Francine the company is planning for a prolonged downturn despite an earnings beat, reporting a secondquarter profit of 3. 8 billion. What the oilws price is going to be. It will depend on how demand will grow for oil, how supply will shrink. Run, weve in the long will see Oil Prices Back into the 70 and 90 range. Manus lets speak to bloombergs chief energy correspondent, javier blas. Protecting the dividend, cuts, what did you make . Have you main take away is a change of language. Three months ago, it was about going back to 90 in three years. Now they say, todays oil price will last for several years. It is a significant change
Stocks are performing right now. Lets begin with u. S. Equities. We have seen a little bit of a selloff today. S p 500 lower by 4 10 of a percent. Olivia we did get a secondquarter gdp report this morning. A little bit weaker than economist forecasted but there was an upgrade to the First Quarter. That is having a little bit of an impact on the treasury market. We will show you the yields on the short end by two or three basis points. People buying the long end of the curve there. The dollar index up about by one half of 1 . Trading at a fourmonth high on signs of the u. S. Economy. I think the recovery is continuing to affirm. Pimm economy did not contract. Lets take a look at some of the top headlines at this hour. The u. S. Economy gaining strength in the second quarter. Gdp rose to 2. 3 . That is slightly less than economist had expected but at the same time the Commerce Department to revise the First Quarter results higher and set of contracting. The economy grew 6 10 of a percent
We thought it was going to be a quiet friday. I would not say there is a lot someise, but there is movement into safe havens. Dollaryen outflows coming through. Ind is up, a move down swissie. Suisse on theedit japanese markets and how they are changing their outlook there on japanese equities. , 4055,look at my chart very straightforward. Credit suisse is saying if you look at the headwinds facing japan, whether uncertain boj policy, a diminished case for a weaker currency, strengthening since the summer, and weve been 1. 10, a flatlining in the markets. You take those two things together and look that the buybacks are tracking lower compared to last year, so it is benchmark right now. We are no longer overweight japanese equities. Unsurprising as we move into the open of markets in china and hong kong come 30 minutes away from that. Singapore, malaysia, taiwan coming online. , sophie take us through those numbers. Sophie the yen easing gains. Markets. D response to management says th