Once again along the gulf coast. The story of this storm, this hurricane will be that of the flooding rainfall. Were talking about a catastrophic and lifethreatening flooding situation. As you mentioned from southern mississippi all the way over into southern alabama including the mobile area, also into the panhandle of florida where the conditions have been very serious out towards pensacola. Now the wind, intensity of the storm coming down, moves further inland this afternoon. It is slowly crawling inland, neil. Only five miles an hour. It means relentless rain will continue over the same hours for hours and hours, resulting in that flooding. If that flooding that were alerting people and businesses to across the southeastern United States as the storm continues to move off to the north and east, that risk for serious flooding is going expand into georgia and up towards the carolinas the next couple days. It is really important that people and businesses be prepared in those areas. T
Moderately above 2 inflation, moderately is what it says in the statement but does not define exactly what moderately means. There are two centers to this action, Robert Kaplan wants to see the statement to the way it was pretty wants to statement to read the economy or stance will remain the same until the economy has weathered the storm and the economic storm we have here. Well cash on the other side dissented because he wants more dovish language in this. On implement rates, statistics are very interesting here. They have reduced now the planet rates rates and estimation of this year to 7. 6 by the end of 2020 grid that is down from 9. 3 from their june projection and then also 5. 5 from on a plummet rates in 2021, 4. 6 and 2022 and 4 in 2023. The real gdp prediction cut in half for the losses they are paired they are now saying its a loss of 3. 7 at the end of this year with a bounce back of 4 next year. The inflation, fed estimates that pce inflation is 1. 2 this year up from 1. 7
Fortt and sara eisen is joining us, working a split shift. The biggest loss for the dow since july 30th. Were back to 34. 30. Had a pretty good nice opening, john, as we got that trade deal commitment, the phone call between the reps between the u. S. And china then Consumer Confidence hits and it was just not enough to offset the best number for new home sales since 2006. Yes some things still creeping higher you see amazon a bit higher. Microsoft up about a percent alphabet, too. Adobe hitting alltime highs earlier this morning, which just goes to show, there are certain story lines in this market, sarah that continue to do well for sure, naturally, the s p 500 is positive because of those groups communication services, consumer discretionaries, financials are higher and the nasdaq just topped higher, john, as squawk alley started as Technology Goes green. I would just say on the consumer, this is a mixed picture were getting. Confident was down, all of the components of it, carl, we
same page? and breaking news in arizona, six people shot, two killed, including an officer. first, support for the former president, gop leaders rushing to his defense, house speaker mike johnson calling for the supreme court to step in to overturn his conviction, senators threatening to grind the senate to a halt, donations pouring into the trump campaign, nearly $53 million since the guilty verdicts. m . clashing comments on the gaza cease-fire plan outlined by president biden. is the plan already in trouble? tonight israel s prime minister calling it a nonstarter, insisting the fighting won t stop until israel s conditions are met, including the destruction of hamas. dangerous weather taking aim at the nation s heartland, seven states from the gulf coast to the plains, some facing flash flooding, hail and possible tornados in what has already been one of the most active tornado seasons on record. our weather team tracking it all. boeing s histolaunch what went wr
Of a new round of nafta talks. President trump has threatened to withdraw from the accord unless the u. S. Gets a better deal. House Speaker Paul Ryan is taking a handsoff approach in the escalating feud between President Trump and Tennessee Republican senator bob corker. Ryan was questioned today about the war of words between the two in recent days. Speaker ryan i think its just talk it out amongst yourselves. My advice is for these two gentlemen to sit down and talk through their issues. I think thats the best way to get things done. Global news 24 hours a day powered by more than 2700 journalists and analysts in more than 120 countries. This is bloomberg. Im alisa parenti. Bloomberg technology is next. Cory im cory johnson, in for emily chang. This is bloomberg technology. More legal problems at uber, including a criminal to previouslyand undisclosed probes by the Justice Department. Plus, amazon and microsoft taking the lead. We will hear from top executives at each firm. Japanese