Previous peak on february 19th and all i heard is its because were having a v shaped recovery wrong, wrong, wrong. Not just wrong but laughable in a v shaped recovery the Dow Jones Industrial average would be hitting highs but this move is led by the nasdaq and s p including today the dow lost 67 points as the s p advanced 2. 3 , the nasdaq gained 7. 3 you dont need to be a Rocket Scientist to figure this out look at the stocks that have brought us to these levels they are not the recovery plays. In fact, they are the opposite they are stocks that tend to do well because of what we call secular considerations, not secular like nonreligious but secular as in they are doing well because of trends in their own industries, not the economy. Far from it. Allow me to explain. We had a magnificent v shaped recovery in the stock market, but the stock market is not a great reflection of the voter economy anymore. If anything, the actual economy is in precarious shape now that the government stim
And temperatures 60 at the coast, 77 around the bay, 86 inland. 90s in the east bay valleys. A nice evening coming up with 70s and 80s by by 8 00, 50s, 60s and 70s. At the live desk, im following a deadly accident in Southern California involving nearly a dozen marines, one has been killed, two have been seriously injured and eight are currently missing right now. It happened just before 6 00 last night off the coast of is an clemente island. Right now it is being described as a mishap with an assaults amphibious vehicle. The navy and coast guard are helping with the ongoing search and rescue efforts. San francisco is taking new steps to prepare for a worst case scenario. The city has transformed a buildingesidio care facility. There have been 1,000 cases in just ten days, and were seeing a new peak in hospitalizations. Abc 7 News Reporter Amy Hollyfield is live with the concerns about the Hospital Capacity and the new surge. Reporter yeah, if you were wondering how concerned officials
As we head through the afternoon hour, your 12 hour planner starting at 7 00, a little cloudiness, mid to upper 50s. That hasnt changed. Temperatures will run from 77 to 87 inland from noon to 4 00, 67 to 87 around the bay. And so cool along the coast and sunny and warm inland. San francisco taking new steps to prepare for a worst case scenario. They transformed a building to a care facility. Of course health is big focus for us. And there have been 1,000 cases in ten days in the city and a new peak in hospitalizations Amy Hollyfield is live talking about Hospital Capacity and the new surge. Reporter yeah, they plan to bring patients who need medical care to these warehouses here in the presidio so they can make room for covid19 patients in hospitals. So they have set up beds here in these warehouses, they have created a Field Hospital here. They have 20 beds so far, but the plan is to eventually have room to treat 93 people. This is for people who need hospital care who dont have covi
Exchange, we bring a market moving news from around the world. Kong ifus from hong enda curran, we have Annmarie Hordern and emma chandra, and Michael Mckee joining us in new york. I want to show the slowdown. Bloombergs enda curran has more. Enda . Enda i think it was quite weak across the board, alex. The worst single month meeting retail002, which saw the sales side of things confirming that even though a lot of it was due to the slowdown in the car market, the auto market, there is a feeling that consumers are starting to track as well. The activeixed, investors side of it, we saw that lacking, pretty soft reading, setting up the economy for a pretty slow in to the year. Putting pressure on the government to respond. Alix thanks so much, enda curran come in hong kong. Saudi Oil Facilities were attacked. Annmarie hordern have the latest. Tomarie that is right here 5 of global supply, 5. 7 Million Barrels a day, but half of the kingdoms net exports. The biggest infrastructure that d
Lauren Technology Makes keeping up with work while out of the office easier but americans arent having it. The big lies we tell to keep our bosses from creeping in on our vacations p. It is wednesday, august 28th. Fbn a. M. Starts right now. Its all right, all right, girl. One day youll see. Youll never find a guy like me. Lauren welcome to fbn a. M. Good morning. Im lauren simonetti. Cheryl good morning, im cheryl casone. Lauren lets take a look at how your money is moving this morning. U. S. Futures hugging the flat line, slightly higher if youre looking at the dow, up 18 points, s p up 4, nasdaq up 5. Cheryl watching the 10 year. The spread between the two and the 10 year yields inverted, kind of the worst numbers weve seen since 2007. The bond market signaling there could be a recession coming. Right now, the yield on the 10 year is 1. 48 , a gain of 8 basis points. So a little bit of a better sign this morning on that. Lauren futures are up. Major move continues to the upside in t