Next week we cool down, and guess what, we are still warming up, and today will be close to the warmest day. Clear skulls come san jose is 54, just a hint of a southsouthwest breeze. There is a north wind north of 42, right about 10 to 25, and thats making for some pretty mild conditions, and it wont take long for paul warming up. Also, low 90s, well above average for this time of year. Lets head over to sal now. Pretty quiet, is that still the case . The heat is on, sal, the heat is on. I had forgot to turn my music off, but now i did. And thank you very much, the heat is on, steve. [ laughter ] all right, good morning everyone, lets take a look at what we have. And theres not a lot going on in traffic. You can see, that the bay bridge, as you come through, you will see the traffic is moving along very nicely, and we had a pretty quiet morning. Some mornings are worse than now. S. 7 02. Lets go back to the headlands. All right, sal, thank you. Breaking news we are still following in s
Blocks away. The remaining 59 guests at Division Circle and the shelter staff are all getting tested and transferred to isolation and hotel rooms. They await their test results. The shuttlebus that we have been seeing around town are shuttling people from shelter to the hotel secured by the sister. They have been coming and going frequently over the last couple of hours. We do not know when we will get the subsequent test results out of the shelter. We are live in san francisco, wilson walker, kpix 5. 97 testing swabs on the way to california. The governor referred to a conversation she had with trump saying they had been sent and they will be distributed tomorrow. 100,000 swabs initially are promised and the remaining 10,000 are expected at a later date. A federal judge blocked a California Law that would require background checks on people buying ammunition. The california rifle and Pistol Association asked the judge to ease restrictions after the voters approved a measure to toughen
The last halfhour or so. The morning started out on a grim note with initial jobless claims very close to 3 million once again. Of smallerixth week jobless claims, but nevertheless , at those rates, it is still pretty dire. The dollar index is stronger today. Weaker euro and weaker sterling, too. We continue to see gains in the oil patch. 37, and brent crude trading above 30 a barrel. Governor Andrew Bailey also seeing the bank of england is not currently considering lowering Interest Rates below zero. His comments coming a day after fed chair Jerome Powell pushed back against the idea. Lets get to our guest, patrick chiefong, Plurimi Wealth investment officer. Expected. Ire as we maybe u. K. Data wasnt quite as bad as we were looking for, but still a contraction of nearly 1. 6 . Of 5. 6 . Do the Central Banks need to start considering negative rates . Patrick i think it is a bit of a mixed bag. I dont think the benefits of negative rates are that compelling at this point. If we see it
Basis points. Lets get to our guest now. We have a very fascinating guest right now. Ed hyman, Institutional Investor economist of the year for decades. The surveys he carries out are unparalleled in the industry. We are going to talk about Central Banks, the ecb, and the fed meeting this week, and the bank of japan coming out with some decisions today. Chairman of evercore isi, is with us now. Small and mediumsized enterprises, and companies that do business is with china. Obviously, the data is falling off a cliff right now, but in your estimation, what will the severity of this recession be in comparison to, say, 2008 . Ed much worse. But this is a very interesting time for me. Ive probably been the most bearish person on the street with our gdp numbers down 50 , and like you say, things have been kind of freefall, Company Surveys included. I just wanted to share with you that for the past two weeks, our surveys have increased a little retailers and restaurants. The checks that were
Why did u. S. Oil prices hit negative territory an unprecedented fall in American Crude Oil sales has added to the hardships caused by coronavirus so what will that mean for the u. S. And the Global Economy this is inside story. Hello and welcome to the program im Richelle Carey thats one of the worlds most valued commodities but the coronavirus lockdowns to overturn the dominance of oil the worth of a barrel of u. S. Oil fell to less than nothing on monday thats the 1st time in history the price has turned negative so this means producers ended up paying buyers more than 30. 00 a barrel to get oil off their hands it rebound a slightly shit disturber 2 dollars the next day that jaw dropping slide this because the world has more crude that it could use and Storage Facilities and even ocean tankers are filling up oil is traded on future contracts and fears of not finding a place to put oil in may means nobody wants crude thats led to a severe drop for west texas intermediate a benchmark