Recordbreaking day for the stock market we cross one more millennial, have more to go . The president is talking about 30,000 who knows where were going. The important thing is to note how broad the rally is, not just tech stocks, in fact, theyre not necessarily the most important part of the rally. Lets look at the sectors moving financials is been big Interest Rates have been moving up materials, thats a rally thats continuing to ratchet. Energy strong with oil over 60. Even Consumer Staples are leading. You know whats not doing anything anything thats Interest Rate intensetive. Real estate, investment trusts, utilities lagging for a long, long time. Of course, those are bond proxies. A lot of new highs in financials as the higher Interest Rate scenario is helping the banks out. This is a small spattering i could go through American Express, etrade, key corp, suntrust, all sorts of banks all the Major Money Center Banks as well as the super regionals at 52week highs a cyclical rally,
Statement he made midday today which well talk about. Meantime, how about stocks. The s p could see its third 1 gain this year just in that territory right now. Just under well tell you whats behind the move higher and see whether we can hold the gains were drifting down a little bit in the final hour here. And this should be very interesting. After the bell, james damore, the engineer fired from google because of his internal memo on diversity. Hell be talking to kelly oneonone to give his side of the story. Looking forward to that an hour from now. He hasnt been shy about it so far. Right. Let begin at the white house where President Trump is about to address chinas trade practices. Onlion javers eamon javers is standing by. Reporter should see that live on camera in a couple of moments. The president will sign a document which directs the u. S. Trade representative to determine whether or not to investigate any china laws or policies that may be unreasonable or discriminatory relate
The question i ask for michelle and tyler whach what happens if and when the Manufacturing Council decides to dissolve the strategic and Advisory Council has now officially tried to disband do you try to create a new one or go on the ceos he tried to put himself so close to. President trump is going to be extremely angry he is going to take this very personally he tweeted yesterday or the day before, when people started to leave, that he had others lined up to come in and take their place. We will see, i guess, if these kind of councils are very, very valuable to the white house and the president. He will try and reconstitute it. It will be interesting to see who will accept a position on it that council why do you think we are not seeing more of a Market Reaction to any of this not just today but yesterday, to everything that has gone on. This is a stock market that ignores every single thing that comes out of washington. It is completely divorced from donald trump because multination
Wha as warm as we will get. All the warnings have expired in terms of Severe Weather. Theres still a lot of standing water. That is something we will have to deal with throughout much of today. There was a record rainfall at dulles, more than two inches in the last 24 hours. Over an inch in d. C. , merely a four inches in culpeper. The green areas will coincide with the heaviest rainfall. Thats where the flood warnings remain in effect now. 32 in elkins, 60 in d. C. It will be a blustery afternoon with temperatures falling into the 40s. Details on the wind and what we can expect over the next seven days. Coming up in a few minutes. Now to steve. A couple road closures. On beach drive, south of noted way at the district line. Porter street nw is closed between connecticut avenue and the drive because of wires on the road. That is still blocked. You probably want to stick with connecticut avenue. That will be a problem for a little longer. In the aspen hill area, Georgia Avenue at hewitt
Roads are closed because of all the water that fell overnight. Some severe rains out there and we sent out abc2 news linda so out on york road the morning with the very latest. And linda what are you seeing out there . Reporter well, chances are you heard all that rain. And this is what its done to the roads this morning. Were here along york road where it meets chundley. This truck is manned right here to direct people into one lane on york road. Because of all this water. It is completely flooded the intersection here. They have a high water sign up. And this is basically the story along several roads in our area. We put out a call to several dispatch centers this morning and they tell us area roads are flooded because of all the rain we got out we got overnight. And as youre getting ready for work, getting the kids ready for school, keep in mind you want to maybe head out a little early because your normal route may be detoured because these roads are shut off. Remember no matter ho