Also in the next hour the light fantastic. A multicoloured show for the handover of the queens ferry crossing, the uks tallest bridge. Good afternoon and welcome to bbc news. A major dam outside houston, texas, has begun overspilling as storm harvey pushes the reservoir past capacity. Engineers have been periodically releasing water from the addicks dam to relieve pressure to limit the damage down to nearby homes. But now six neighbourhoods nearby are being told to leave their homes. Since the storm hit, 30 inches of rain has fallen were going live to our correspondent who is at la grange in texas. This is such a fast moving story. Were 100 miles west of this is such a fast moving story. Were100 miles west of houston here and were hearing that in houston, two of the reservoirs are overflowing, the reservoirs that they have been doing controlled releases of water from in order to manage the flooding. Now that situation is becoming impossible. Behind me, you can see people are beginning
Good morning. Welcome to squawk alley. With me at post 9, sarah eisen, mike santoli north korea firing an unidentified Ballistic Missile over japan last night. The first such projectile to bypass the island nation since back in 2009 our very own reporter is in japan now with the latest response well, like so many japanese here, we were woken up around 6 00 a. M. Local time with that latest launch coming from north korea triggering a nationwide alert. Broadcasters breaking into programming, warning of a missile passing through. Some residents in the areas in northern japan reported getting Text Messages on their phone urging them to take cover and others said sirens went off in the Community Calling on residents to look for a safe place. This is a missile that traveled well over 1600 miles passed over the Northern Island of hoe kkkao before landing in the Pacific Ocean. The Prime Minister abe con deping this saying he would make every possible effort to protect the lives of the japanese
Thats still the case. Reaction to the north korean overflight also the euro is on fire. They dont want that. Tenyear yield. Look at that 2. 10. Jamie dimon must be thinking how am i going to make that how am i going to get my Net Interest Margin . Home prices is just out. Report for june shows prices up 5. 8 compared to a year earlier. Up 5. 8 that was a bit more than had been anticipated lets get to our road map this morning. It starts with that north korean provocation. A new missile test that flew right over the main japanese islands. President trump says, quote, all options are on the table plus, best buy is moving lower although, the numbers cautionary on the call, saying this is not the new normal. Were going to get into it, of course, here, and explain what exactly is going on of course, well be following the continued catastrophic flooding paralyzing Southeast Texas. Tropical storm harvey now one of the most destructive storms in the nations history and the rain, as youll see w
It felt kind of bad and here we are and weve actually gone into positive territory for some of the indices. Were seeing north korea acting up again but nothing has really happened. Until you see hopefully nothing really happens, the markets are going to go up and down and then hopefully we just get passed this again and we look at earnings earnings are going to drive this market nothing is happening meaning the bomb didnt land on land and so, therefore, the markets are saying, you know what, every dip you buy . I think thats what youre seeing so far unless you see a real attack. Yeah, i think its really hard to trade into an event like this we are in an environment where there are irrational actors but in terms of what the Economic Impact would be if war broke out, it would be highly localized to the asian region and specifically to the korean peninsula. So i do think that when youre thinking about it from a u. S. Investor perspective, u. S. Investors are probably insulated in their po
Being forced to leave and leave right now. All of this as President Trump tours the devastation beginning in corporate us krity Vice President pence will head to texas later this week Contessa Brewer will get the latest on relief and recovery earnings there lets go to john kern an, pretty dramatic scenes in dickinson, a lot of water between here and houston, turned into a bayou. I wish i could say that was the end but apparently not after opening down triple digits, the dow is positive. And investors brushing aside fears about north koreas latest Missile Launch United Technologies and caterpillar and apple leading gains and financial and material stocks the biggest laggards right now. Lets get you caught up on the latest on harvey the storm setting a rainfall record for tropical cyclones in texas. The National Weather service just over 49 inches of rain has been observed at locations southeast of houston flash flood warnings remain in effect throughout houston, about 300,000 people by