And lets get a check on the markets. Stocks are higher hitting record highs again today and get this, the dow on track for its best week in nearly five months there you see the industrials basically flat never the less higher. Welcome, morgan. How are you . It is great to be with you this friday afternoon. Record breaking rally has been led by the biggest names google join iing microsoft in te trillion dollar club for more on that impact from those megacap stocks and what theyre having on the market, were going to go to seema hey, morgan, the reason we care about these milestones is because alphabet and microsoft and apple collectively make up about 13 of the s p 500 and all three are sitting on gains for the year really setting the bar high for earnings this season. Now evaluation metrics for these three Tech Companies shows that alphabet is the only one trading at a discount to its five year average of 34 times earnings microsoft apple are both trading above their historic pes with a
And its political elite is no longer trusted. Due to political mismanagement its second largest city cape town is running out of water fast growth has declined steadily for more than three percent seven years ago to less than two percent in recent years one of the weakest rates of all of subsaharan africa. The countrys hope is resting on the newly elected president still ram opposers a former union leader whos become a wealthy businessman since he was appointed head of the Ruling African National congress in december the countrys currency has surged by ten percent against the dollar remember during the. Conference. Thats a good sign that investors are banking on a change in south africas fortune. Frances Unemployment Rate dropped below nine percent for the First Time Since two thousand and nine i added weight to efforts by president to manually mark or to liberalize a rigid and even market now the rate fell to eight point nine percent in the Fourth Quarter of last year down from nine p
Rain has moved through. Chief meteorologist doug hill has the latest on that and the cooldown . The temperatures will nosedive after midday. The cold front went through and brought thunderstorms. The next 7, process 8 hours with the cooler air filtering in. Live super doppler seven radar, most of the heavier rain is east of the metro, but there is some coming in from manassas, reston. No lightning detection, but there are good downpours, part of a larger complex of showers associated with the cold front and upper level low pressure. That is moving from west to east a latenight, overnight. We will have clearing skies in the evening hours, the overnight. This evening, if youre going outside, plan to encounter light rain in most areas. The 50s. Nto tomorrow morning, partly cloudy, the temperature between 38 and 44, northwest wind at 1015 putting a chill into the air. That the Storm Watch Weather Team is always on your side. Keep uptodate on when the weather threatens day and anytime at wj
We appreciate your time. With the losho was Angeles Times and alan with the wall street journal. Allen has the first question. You are the first regulator to really have a broad look at how consumers are being treated across the entire financial system. What is the area you have looked at that you are most concerned about . We are worried. Most have been worried about the Mortgage Market. The Mortgage Market is clearly the reason the economy blew up in two thousand eight. Consumers were massively harmed. It was the single biggest Financial Market that has been troubled in many respects than the lending side in the service i. Just come out with some new mortgage rules. The Housing Market is finally starting to recover from the crash. Why do you think these rules will help the market as opposed to hurt it . Not really much more than a back to basics approach to mortgage lending and mortgage services. The same things are thanks have been doing for a long time, making sure that before they
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