Inflation did rise. So what did stocks do in they went up. Its all just a case ofuring that market adage inside outside. In this case, se the rumor, buy the news. After a stumble out of the gate tonight, equties rallied, and strongly, for a fourth straight session. The Dow Jones Industrial average advanced to 24,893. The nasdaq added 130 and the s p 0 was up 35. Babb pisani mightily tries to hy explain w stocks went up todwh most thought he would go down. Reporter is the market worried about inflation or not . Stocks took a knows dive on february 2nd when the jobs report pointed to strongh. Wage grow it fell on today when a read on consumer inflation came in stronger. But by late morning the market recouped all of its losses and move higher. What happened . First volatility has been a big wory recent. Today the main measure of volatility, the vix dropped dramatically, indicating that traders who make bets on volatility were betting that volatility would be lower in the next month. That
Targets chief Financial Officer. The cfo will be joining us in a power lunch exclusive to give us his financial forecast. We begin now with the health of the American House housing market, and new numbers on home sales as we begin to gear up for that spring selling season. Fingers crossed it comes. Youve got dr horton and toll. All moving to the down side. Lets get to diana who is live in washington. Hi diana. Hi mandy. After a disappointing report on january sales of existing home sales of newly built homes out today a bit more heartening but you have to keep them in perspective. Take a look. January sales came in at an annualized rate of 4,1,000. Thats flat from december but december had seen a huge 11 monthly jump, and we didnt give any of that back. Thats good. The 30year average for new home sales is over 700,000 a were. We still have a long way to go. Sales of new homes priced under 150,000 are onethird of what they were a year ago. That is why luxury home builder Toll Brothers i
The evening of january 2 9 begins with a bart officer giving a man a stern warning. Get off the train. Hold it get off the train reporter someone on this train called bart police to say the man was harassing riders . An officer arrived and tried to convince the man to come talk to him on the platform. He didnt comply and even though witnesses can be heard saying the man was done nothing wrong and was bothering no one, watch what happens next. Taser, taser, taser reporter the officer tases the man and he falls to the ground. Dont move or ill tase you again reporter minutes pass. More officers arrive and as the man is being held down and cuffed tase him again taser, taser, taser [ taseing ] reporter the same officer does it again this time for five full seconds. One witness was so horrified that she wrote a blog post about the incident and later reported it to bart police. In a statement to kpix 5, bart said, as per policy and protocol, bart police have initiated the proper investigation
Toward the coastline too. Temperatures are now in the 40s and the 50s. I think by the afternoon, we are enjoying a mix of sun and clouds. Look at these numbers. 68 degrees in livermore. 68 in san jose. And about 67 degrees in mountain view. Cooler of course to the north with all the clouds. Lets check the roads with elizabeth. And we have already got some slowing coming through the Altamont Pass to about north flynn. You can see some slowdowns on our sensors still not enough to impact the drive time. Still looks good. But overall no big incidents out the door if you are about to start off on your morning commute if you want to get to work on time. Heres a look at the south bay. Southbound 101 i noticed a few brake lights past tully on to capitol expressway. But otherwise, everything is pretty much in the green. I think lawrence mentioned this as well, another day of fog for your morning commute. You can see it hazy there through oakland past the oakland coliseum. Mass transit still hav
South could make history if they vote to unionize. Theres also a lot on the line for big labor if it goes down in defeat. All that and more tonight on nightly Business Report for wednesday, february 12th. Good evening, everyone iim sue herera. Susie gharib has the evening off. Im Tyler Mathisen and i am not a winterholic. I am so done with it. Our lead story tonight is not about me, its about the economy and how its being affected and in a big way by the most brutal run of harsh Winter Weather in years. Another massive ice and snowstorm called winter storm pax slammed into atlanta and North Carolina today and will be making its way through virginia into the northeast tonight and tomorrow. Some forecasts call for up to a foot of snow in and around philadelphia, new york city, boston. About one out of every three americans will feel this storm. It will close schools, snarl traffic, ground planes and more important for business, exact a toll on Economic Activity. So what is the real cost