Mid and upper 50s by noontime with partly cloudy conditions. More sunshine by 4 00. By the end of the day were back into the 50s with a dry afternoon. Thats not going to last. Several chances of rain for the upcoming workweek, even perhaps squeeze some in by the end of the weekend, chris. Lisa, thank you. They zoom through many east Bay Community a few weeks ago. This weekend, hundreds of motorcyclists may cause problems again. Police say social media has tipped them off there may be sideshows with people coming from all over the state. Abc 7 News Reporter katie utehs has more on what police are doing to get ready. Reporter swarms of motorcycle riders took over east bay roadways late last month. Police arrested five people and impounded vehicles. But it hasnt slowed side show activity. More is expected this weekend. Oakland Police Captain Randall Wingate says the street stunts stretch the department thin. If youre a victim of a minor crime, youll have to wait, it will backlog us for an
The pessimism, its palpable, especially for me over the weekend. When the bears always seem to come out of the woodwork and start attacking me, makes you wonder how the market can hang in there with the dow gaining 61 points today, another alltime high, the s p closing down, the has dak ncaa declining the linkage between a dysfunctional washington they know nothing and what amounts to a roaring, rotating bull market. This weekend i found myself in a complicated position after the Senates Health care debacle, ive been bearish on washington all that scaramucci, the mooch drama, it hasnt helped. Friday was the last straw for me we interviewed the manager of the office of manage and budget. Given this administrations track record when it comes to passing legislation, im skeptical that anything can get done i found myself begging him to go for an easy win and focus on repatriation of capital overseas, which would be easy to pass at first, i think mulvaney misunderstood me and thought i was
Mea meant. Investors run for the exits. 181 points. Speed plunging 9. 4 . The house of pain. Remember how this market works. It has not one but two masters. The first is oil. If oil rallies, the stock market almost always goes higher. Thats been the pattern. Been the pattern since the bottom on february 10th, which is easy, because its my birthday. The federal reserve. Its one mean task master. Bulls want this these two separate. You know who always wins in the bear is almost always the first, lets set the stage. Yesterday was one of those bizarre up days where nothing happened. Nothing significant from any government. It was a terrific sign that in the absence of news, maybe the market wanted to go higher. However, the sign was a false one. As we found out this morning at 8 30 a. M. , when the bulls got some unwelcomed news. An astonishing pickup of inflation led by higher rents, medical care and an increase in energy prices. These all amounted to a. 4 increase in the cp a. Thats the
Correction for stocks. Im in for melissa lee. Tonight we start with apple. The stock surging on a big top and bottom line about it. We just sat down with the ceo tim cook moments ago. Lets get straight to josh with the headlines. Josh . Sarah, i did sit down with ceo tim cook to go over the quarter. Let me give you the highlights. He said he feels fantastic about how the iphone did in q3. 40. 4 million un iits. Cooks point to me was that iphone demand was actually even better than what those sales might indicate because he took down that smart phone inventory by about four Million Units in the quarter. He also says he feels bullish about that iphone franchise looking ahead. He pointed at the q3 that the switchers from an zroidroids hi record. Iphone se he pointed out that, is the latest iphone, the four inch device, is attracting a whole new group of users to the ios system. And as for other products, ipad about ten million. That is a product still under pressure. Cook telling me this
It is coming tomorrow and its got major implications for the fed and the markets and the rally. Your job and our job tonight is clear. What is the best move ahead of this release . What do you think . You have to define, whats a good number and whats a bad number. I think if you got something over 200,000, probably the markets say there is going to be a hike in september or start on that. What i would do is i would be buying bonds, tlt. They come off a little bit. Here is the reason why, that ism number was terrible. We are in contraction mode on that. Autos, weak again, maybe it is a plateau but certainly not growing anymore. The size of the economy is growing over and getting slower, could mean that in the feds heighten over the summer, on tlt, you buy tlt. On your view, no matter what happens with the feds, whether they raise or dont raise, it is a winwin. Everything is great for tlt. Yes. Based on how it is set up. Clerly thearly there must be scenario where it is not good. You hav