Texas Governor Greg Abbott updating residents this afternoon. There is reality we have to come to gyps with, and that is we are just beginning the process of responding to this storm. We are still involved in the searchandrescue process. Our number one goal from Corpus Christie all the way to east of houston is still protecting and preserving life and rescuing every person that we can find. Ashley this as President Trump is expected to address the National Disaster sometime this hour. Ahead of that visit to survey the damage in texas tomorrow. Of course well be, he will be making comments and taking questions live from the white house. Well take you there immediately that begins. Cheryl well be waiting on President Trump. Right now we have jeff flock. He is live on the ground in houston, texas. Thousands are being forced from their homes seeking shelter. Jeff what are conditions for you right now. Reporter oh, boy, cheryl, i tell you i didnt think it could be much worse. Were in the a neighborhood adjacent to the Barker Reservoir because where they are releasing water because they have to or they lose control of the dam. These folks are sweating it out. Look down the street, already flooded. These homes flooded. Only one family remaining in second floor of a house out here. These folks are sweating it. You guys still dry in there . So far. Reporter so far. Fingers crossed, hey. What channel . Reporter fox business network, were live. Keep it dry. Reporter well keep it dry, thank you. Be careful. Reporter. The rain has not stopped all day. We had a break of about an hour this morning. And then, it opened up an continues to open up. This caused flooding on sunday is that, sunday night into monday morning, that tremendous downpour that we had. And so, we got the same sort of thing happening. The water is rising. You know, you think we would be over this by now, but this, boy, this one just wont quit. I dont know what to say about it. Ive been in lot of disasters and floods, a lot of hurricanes. I dont believe i have ever seen anything quite like this one. Cheryl jeff, for somebody like you to Say Something like that i want to point out to viewers that is incredible because youve been covering hurricanes for 20 years, jeff and the fact that the rain, the storm will be sitting on top of houston i think is kind of the most daunting part. Reporter that is the thing. Right, cheryl. You know. Obviously texas girl, you know, storms can sit down here but, as big of a storm this is, sitting offshore now, pulling that moisture and just dumping it on top of us for the length time and for forecasters to say were nowhere near done with this yet. I dont know what to say about that. I dont know what to say about that. I was in katrina. I hate to compare disasters. Only thing i can say about this one, loss of life has been minimal. That is the positive i would put on it. Cheryl that is good news. Jeff flock live of course for us in houston, texas. Jeff, thank you. Ashley doing an amazing job, jeff flock. With three feet of rain falling in some texas locations you would think the worst is over, right . Jeff pointed out, maybe not. Harvey is rewriting the history books. The rain may not be over, so joining to us talk about this joe bastardi, weather bell chief meteorologist. Were running out of words to use to describe this situation. The bottom line is, we already know what has fallen. Can we expect more in this very, very flooded part of texas . Well, yeah. This is getting back out over the water. Our forecast has been since tuesday warning about the loop, sudden intensification of this loop. Part two of the storm is it starting trying to figure out the track and intensity over the next 36 to 48 hours. I do think another landfall as this gets out over the gulf, another landfall, that will occur east of galveston. Perhaps as far as east as beaumont, port arthur area. As this system is tightening up off the coast, it will continue to push rain bands into the houston area. It will continue to see this kind of rain at least for the next 24 to 48 hours. The, the most interesting, i dont know if you want to call it interesting, but, wild card here is, if it tightens up enough, if it intensifies enough, it may pull the rain bands in towards its center, become a more focused storm at the center, and then houston could actually get out of the heaviest rains. Another aspect of this is if it regained hurricane intensity, the wind would turn to the north and blow Galveston Bay into galveston from behind. That water has to be up. With you will at water flowing into the Galveston Bay. Storm surge water back into Galveston Bay, it has to be higher than normal. So far the wind out of galveston is southeast from off the gulf. But were seeing a lot of northeast win blowing around houston. Theyre blowing 40 to 50 miles an hour. That is another aspect. There is new orleans where some of the pumps are down. I do think new orleans will get rain. They may see flooding over there. Its a complex situation here with the endgame over next couple days. I believe the center will be onshore by noon wednesday, if not quicker. I do think the conditions will start to improve later wednesday and thursday around the houston area. Ashley wow, were only on monday. You have been doing this a long time, joe. Have you seen anything like this . Were talking about hurricanes, just about a four when it hit . Normally they blow through and dissipate. This one blew in, the winds dropped but it is just sitting there and were seeing these biblical proportions of rain . Listen, i have seen them, because i look at weather all over the world. This happens, you see storms stall all the time. Weather geeks like me watch them stall out in the middle of the ocean. What i do a lot of times i practice, how would i forecast this, and then if i see it close to land, i could try to make a forecast. Let me give you the strongest example in the western hemisphere. Hurricane flora, 1963. Category 4 in southeast cuba. Stalled for four days. Dumped 100 inches of rain, had fidel castro accusing the United States trying to destroy his island. You can see this happened before. If you go back and look at paths of hurricanes and understand whats going on you know why things like this happen. By the way, guess what . Because it is so cool in the central part of the United States and jet stream buckled, because we didnt have the normal ridge in the central part of the United States that keeps these storms move, it stalled because of all the cool going on. It is ironic given what people are trying, picture theyre trying to paint that it is cool trough of low pressure that caught this thing and stopped it dead in its tracks. David just want to see the back side of it at some point soon. Joe bastardi, always great information. Thanks for joining us. Thank you for having me. Melissa were right now waiting as ashley mentioned at top of the show from the comments from President Trump. The president will hold a joint News Conference with the finnish president before he heads down to texas tomorrow. Corpus christie to be specific. Foxs blake burman has the latest what we hear from the president. Blake . Reporter we expect President Trump to make remarks off the east room of the white house 15, 20 minutes from now if they keep the meeting with the finnish president. He complimented not only people texas and not only authorities and Emergency Management agencies dealing with the situation. President complimenting of spirit of everybody involved. Also the huge foreshadowing potential battle in congress to allocate emergency funds for the area. He will potentially head back down to the region on saturday, whether texas, louisiana, potentially both. The schedule very much in flux. Whenever the president travels there is massive security details that follows. Right now folks will tell you that the Police Officers, the emergency responders, and everyone down the line, many of those need to be on the ground helping the people of texas, not necessarily tying up the security detail. That is part of the challenge they are dealing with. But we do anticipate President Trump to leave here from washington, d. C. , as he said, tomorrow morning 8 30 to head to texas. We will hear from the president. Meantime in about 15, 20 minutes or so. We expect him to make additional remarks on harvey off the top. Take questions from reporters where this could come up as well. Cheryl seems Governor Abbott of texas, blake, basically told the president , Corpus Christie might be a better spot but not anywhere near houston tomorrow. Reporter it is still flooding and raining there. As far as away they can get. This is not just a challenge for President Trump but for president s past. How do you get into the region and not necessarily tie things up. He needs to to there firsthand to see the damage. Cheryl and be a distraction. Blake burman. See you in a bit. Ashley dow slightly lower given the disaster in the gulf, settling down five points. S p and nasdaq closing in positive territory. Lets go to Nicole Petallides on floor of new york stock exchange. The markets are positive given all the scenes in texas. The images are horrific. Obviously catastrophic storm and rescues happening now. The big market picture doesnt illustrate happening in each sector. Dow down five points. S p up one. Dow down two last three sessions. We saw movement. We saw movement in the u. S. Dollar lowest since january 2013. Gold 1300 a troy owns, highest since 2016 of september of the we did see moves. I want to talk about travelers in the Dow Jones Industrial average which shaved off more than 20 dow points when you talk about insurance and all that will come from this. If it werent for travelers, the dow would have finished in positive territory. Then we took a look at some other names in that group. You can see names like progressive down 2. 2 . Travelers down 2 1 2 . Fidelity national, all those down more than 1 . You had other stormrelated stocks that have been moving. We know energy came under pressure. Look at names like generac generators. They have the industrial competitor. Home depot, you know everyone is running to home depot. Some of these places have exposure to texas. On one hand might be winning baselling all materials needed for searchandrescue and rebuilding but at same time exposure for retailers, restaurants, energy, airlines and the like. Well go sector by sector. We wont really get a good gain for at least another week or some back to you. Ashley indeed. Nicole petallides at new york stock exchange. Nicole, thank you very much. Cheryl the president expected to make remarks at any moment on the National Disaster that is happening in texas. Now possibly into louisiana. All of this is ahead of his trip to survey damage of the heading down to Corpus Christie term. Well bring you comments live when they begin. There is live picture. Ashley are state and local governments properly prepared to has the potential of worst flooding in American History if not already . Retired general, russell honore, commander of the Hurricane Katrina joint task force weighs in next. You can say it will rain over five days, over 30 county jurisdiction. Pinpointing exactly what water shed that rain will go into, it is dang near impossible to figure that out. So new touch screens. And biometrics. In 574 branches. All done by. Yesterday. Banks arent just undergoing a face lift. Theyre undergoing a transformation. 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Ashley live look at the white house where the president is expected to make remarks and take some questions on the federal response to the catastrophic flooding in texas. The president today already declaring a state of emergency in louisiana as well. Of course well bring you back live to the white house when the president begins his remarks. Were expecting that within minutes. Cheryl obviously weve been watching of course the situation when it comes to happening down on the gulf coast and refineries. This storm hitting the heart of the u. S. Oil and gas industry. You have now Tropical Storm harvey knocking out 15 of the nations refining capacity. That is as of now of the storm forcing 10 Major Oil Refineries to shut down. Lets bring in john hofmeister, former Shell Oil Company president. John great to have you here on a day like today. Second largest refinery in baytown in particular, that is shut down. How long before the storm passes over the weekend to get the refineries back up and running. Really depend how much flooding they suffered from and how much they were able to make changes in layouts of refineries since we learned from hurricane rita what flooding does in a refinery. Go back a few years. All of the electronics and electricals were basically groundbased. Many refineries have lifted them up to about 12 or 15 feet off the ground in the period between rita back, in 2006. And in the present time. So, it wont take them much longer than a week to 10 days to get back up and running, if they have not suffered too much flooding. Cheryl obviously Companies Want to make sure their personnel are safe and they can go into refineries to get things going. Talk about overall supply issues that can affect the east coast in particular. Gas prices, petrochemicals, all will be sideeffect of this. How long do you think well sustain these higher prices throughout the nation in the wake of Hurricane Katrina, excuse me Hurricane Harvey . I really dont think really long. I think the price fluctuation is normal after you have refinery shutdowns. Its a traders marketplace. But if the refineries get back up in a week to 10 days, i think well see a settling down of the prices. A lot of supply is, exported. That will cease. Once you get the supply chain back up and running it, doesnt take long to sort out what the prices will been. I think well be revert to where we were. Cheryl were obviously tracking the storm from a weather perspective and human perspective but also the business perspective if the storm heads up towards louisiana. That is still somewhat unknown what harvey is going to do. If the storm heads over to the louisiana side, are there preparations put in place for those refining operations to be shut down and advanced as well . Yes, you would believe they would. We had a lot of experience on the gulf coast in the last 15, 20 years. People know what they are doing and they know what the risks are and frankly you mentioned it already, a primary issue is a safe operation. The second issue is having people on hand who can actually run the refinery. We do, as companies, do, they take consideration of their employee needs to be with their families. To look after their homes, and so if theyre not available to work, then you cant operate the refinery. Which leads to an unsafe situation. So the two are really mixed together, safety and people. And thats why you shut down. Cheryl the good news, john, we should say real quick, you have got experience after katrina and also rita that hit the gulf coast in the same year. That those hurricanes really made refineries, they really went through and added to their operations to make sure the electricity grids were stronger. So Lesson Learned there. Hopefully that will be the case this time as well. John hoffmeister, great voice on all this. Thank you. Cheryl we want to go live to the white house. Looks like President Trump is at the podium. Lets is in. My great honor to welcome president niinisto to the white house. I want to begin by extending my thoughts and prayers for those affected by Hurricane Harvey and the catastrophe of flooding and all of the other difficulties that they are currently going through in houston. In Southeast Texas and now looking more and more like the state of louisiana will be also affected. My administration is coordinating closely with state and local authorities. In texas louisiana to save lives. We thank our firstresponders and all of those involved in their efforts. Were working directly with texas Governor Greg Abbott, who by the way is doing a fantastic job, and his entire staff likewise, as well as with Governor John Bel Edwards who is very much involved in starting the process of louisiana. Weve pledged our full support as texas and louisiana battle sand recover from this very devastating and historic storm. Probably never been anything like this. Under the supervision of fema admin