Everybody cruising along to the downtown oakland exits. Southbound in milpitas 880 near 237 and 237 looks great. If you are a Silicon Valley driver trying to get to sunnyvale, it looks great. Westbound 580 delays building on 205 out of tracy. So far nothing much going on in the livermore valley. You can see that drive time still looks great, as well. You are doing fine to the dublin interchange. Headlights are the commute direction. Once again really quiet all the way to 238 and the Castro Valley y. Mass transit also off to a very nice start this morning. Bart systemwide no delay and ace train number one left stockton with no problems. Remember kcbs when you hit the roads at 106. 9 fm or 740am. Back to you guys. Thank you. 5 01. It is a dramatic turn of events in the saga of l. A. Clippers owner Donald Sterling. He is banned for life from the nba. Cate caugiran has more. Reporter the nba commissioner urges the leagues board of directors to force sterling to sell the team. Many people n
Plunging 2. 09 . Nasdaq nose diving 3. 1 . Its worst performance since november of 2011, because if one things for certain, you wont find many explanation for todays hideous action on wall street or main street for that matter. Frankly, this was without a doubt one of the most mystifying days weve had in ages. In fact, if our country traded in a vacuum as if we were the only country in the world and so many hedge funds werent being knocked through a loop, im actually confident we would have been higher today, not down and not down terribly. That would have been the rational course of action in this nasty session judging by the last couple decades of trading. Why do i think we couldve been up with the domestic set of facts on hand and not down hideously as we were . Because the two biggest pieces of news in america today, america, were positive. The first, how about the lowest jobless claims number in ages . Thats right, jobless claims went down by 32,000, just 300,000. Do you know that
Trades retailers rip higher. Shares of jcp jump 19 after the close. On stronger than expected sales and earnings. Its viewed as indication the chain may be turning around. Nordstrom stock rallied nearly 10 on successful Sales Numbers earnings that beat estimates. And, the burning cost of wildfires in california could reach the billion dollar mark. As fires rage through 10,000 acres in san diego county. Trader bob iaccino, of tethys partners leads the way on this friday. Good morning to you. Good morning. Well we definitely have some market weakness especially in tech and biotech but what are the opportunities out there that you would like to take advantage of as youre trading . You have to look at this market 2 ways youre either a bottom fisher, which im not and if youre going to be a bottom fisher youre going to do in the small caps and the biotech but you want to wait. You want to see what the Broader Market does. We have a technical correction in the russell 2000 down a little over
Small businesses that create two out of every three new jobs in the u. S. Tonight youre going to meet some of the people behind those businesses and find out how they plan to keep building those businesses. We begin with the housing market, ground zero for the recession. From construction to appliance makers, when it collapsed it took a lot of very Good Companies down with it. But heres one that has managed to learn how to paint over the rough spots. You can brush it on, you can roll it on, you can get it on your pants. Paint. The kelly moore plant in san carlos, california, turns out nearly 40,000 gallons a day. Its one of the largest employeeowned paint operations in the u. S. Part of a 13 billion industry domestically. 140 workers in the 15 acre san carlos facility, 1,500 world wide, including 150 retail outlets in seven states. We own currently 58 of the stock and the rest of the stock is owned by the moore family. Mike you like white . They got it. You like they got that, too. Sti
Pmi, purchasing managers index. Bloomberg consumer comfort index. Home sales. That is the one we want to key on. Moving onto earnings. Ford, gm, caterpillar. Starbucks, amazon, pandora. Im looking forward to amazon. Lets do a data check. Particularly the politics. The market moves ever hire. Higher. Futures are up so much. Yields are weaker. Some dollar strength. Nymex crude. Under 13, under 12. 11. 52 on the volatility. A slightly weaker yen. That is a benchmark of stronger chinese currency. To the bloomberg terminal. One of the observations. This is the russian equity market. You can see what is not happening. The u. S. Is going like this. It is able market. It aint happening in russia. Is there value . It is a political question. And a sensitive topic as well. It has recovered from that big lunch plunge. We will talk about it in the next hour. The papers, the websites. We need an update on our front page. If you guys plan to fly to tel aviv, you can do so. The faa listed its 24hour