A violent crime. Assistant police chief tony jones says reviving ceasefire required them to reorganize the Police Department from a reactive organization to a proactive, Crime Fighting police force. The city says the numbers are proof the program works, but some are surprised to hear crime is down. Im very, very surprised and im happy to hear that. The crime itself, we do see an uptick over the temescal area, where cars are being broken into the sideshows are continuing to happen right next to a fire station to. Cheryl says she grew up in oakland and shes always carried pepper spray around for protection. No, i dont feel safe. Im constantly watching around. Others say they are feeling safer. Lately. I feel a lot safer here, especially at night compared to San Francisco, where it could be a lot more dangerous. And i definitely see the change in crime rates dropping. The beeping has gone down considerably. Bridget kane, who owns two businesses in downtown city center, says she thinks thi
It seems like investors were bracing for a more hawkish fed. We got a fed that downplayed that the move would be imminently a rate hike. Also the shrinking of the Balance Sheets to ease pressure on money markets. Yet powell also signaled that while keeping the cuts on the table, they might not come so soon, especially given how he sees inflation in the country. Have a listen. In recent months, inflation has shown a lack of further progress toward over 2 objective and we remain highly attentive to inflation risks. Avril lack of progress on inflation, that is the highlight. Thats why perhaps we are not seeing that much convincing moves to the upside. The kospi is down. Nikkei futures pointing to a slight gain when markets return to the lunch break. The focus has really been on the hong kong stocks. Quite a rally. A well beating rally despite the crucial pillar of support today, mainland investors. Of course, china is shot. A lot of the upside we are seeing might be thanks to what investo
Nasdaq up 27 . Again, the dow has been weak over the last several trading sessions. You are seeing the issues going on and the bigger deal is the russell 2000. It turned negative for the year yesterday. It is a huge pullback with the dow industrials and russell. All these pulling back with the potential for recession. These are the things we watch along with treasury yields and inversion in the treasury yield curve. Twoyear yield at an 5. 1 . Above the 5year and 10year and 30year. Those yields picking up is what we are watching. Yields are picking up because the economy is strong. Why is the dow and russell indicating otherwise . Maybe it is so strong that the fed has to do something. If they do something that is why. They have to go further. Here we are. Dijamie dimon made comments yesterday. He said it could go 7 . He said it is not something he is predicting, but you have to prepare for it. Thats what he told his board and clients. Prepare for it. Dont be surprised if rates are high
It starts with the spike in yields. That tenyear, it touched its highest level since august of 2007. Microsoft Ceo Satya Nadella is taking a stand in the antitrust case against google. Hes testifying or will testify about the difficulty to break into search. Its day one of the criminal trial for Sam Bankmanfried right there in that building. It will begin later this hour. We will be live on the scene. Lets start with the rising yields. Its funny, jim. We had a funny moment last week where you got up and said all well do is talk about the tenyear. I think its kind of true. I know. It didnt start that way. Im watching Frank Holland this morning. The tenyear is holding. It ought to be a nice day. The dow is up. And then slowly stepbystep, inch by inch the tenyear falls. Then next the futures are down. The analysts are now the tune theyre singing is negative for pretty much everything because why . Margins, but really the subtle reason is because they have to keep track with the stocks the
Exodus out of stocks. Note the nasdaq in particular, it is getting clocked right now, down 256 points or about 2 . Look at the vix, or volatility index, it is the vaulting much higher right now by 14. 33 . Just off the highs of the session here, it stands at 20. 14. We need to flag you that the dow has turned negative for the year. Now work with me here, a loss of 286 points or more at the close will do it. Right now we are well beyond that. We are losing about 457 points on the Dow Jones Industrials, falling below 33,000 right now. We stand at 32,972. The bears drawing blood from the broader market. The s p point loss stands at 63. Investors diving for cover as the vote this just the last 19 minutes to table florida congressman matt gaetzs motion to remove the speaker of the house failed 208218. 11 gop members voted with all democrats in voting no on this motion the table it or move it aside. Right now, many just a few minutes in just a few minutes, we are going to get all the details