Erased but futures have jumped back into the green. Jim, we know its going to be another crazy week, very hard to predict. So what is your tell this week i thought the advice we got from friday ended the teeth of it but if the market is up, were still oversold and thats what you got for it but i dont think theres much that you want to buy i think youd rather wait until it goes back that swing, at 3 30, the futures were up 80, it was crazy, but i think what matters is that there are a lot of people, the feds will take action today and i come back, peter bachvar was on with dominic chu unless the fed can create a vaccine or beat the virus it doesnt matter you said on friday this is a biological crisis. Not ultimately it could i dont think it will turn into a liquidity crisis, for a state at home economy and when you have a Service Economy like we have, you get an upgrade for darden, for instance, last week, Cheesecake Factory are you kidding me anybody anywhere theres a gathering is goin
Different, changes that are coming. Little elves will still be there but the tree will be different. Its going to be an artificial one. The old trees used to come from the shasta mountains but cost upwards of 20,000. So they have a new tree up. Youre going to see it year after year just as you do those little characters. Thats a good thing. Ill be there, same old me to kick off the friday after thanksgiving. Join us out there. We count down the tree lighting. Thats fun, though. There will be a parade this year. Theyre going to bring it back. Its always a nice tradition for folks. Ice skating in california. And its getting closer to the holidays. Lets not forget that. I mean, its that time and so we are two weeks away from thanksgiving. All right, so lets get out the door this morning with a look at your forecast that will finally feel like fall. We are going to start out in palo alto with some low 50s and then see it rise into the low 60s today, very slow warm yum and some peeks of sun
Hopefully some snowman hot chocolate. Maybe some this morning, what do you think . Even this afternoon, low 60s. This is where were starting with mid50s. As we check out our temperature trend today we warm up slowly from 54 degrees going to 62 degrees by early this afternoon. Well have more on this coming up. Mike, you spotted that traffic on highway 101. I did and i showed the break just before the commercial break and now the break is gone after the commercial break. Not tied together in any way. We are looking at speeds back again north. You see the flashlights. Overnight construction work going on and that was the blip we saw. These just came in to chp so waiting for them to arrive. So far the Speed Sensors look great including the approach to the bay bridge. This is the question people have been asking. Is it a crime to eat while waiting for a train . A man was cited for eating food on a b. A. R. T. Platform and now is suing the transit agency. Bob redells live for us in the east
1. 13 . Wowza. They jeweled that nasdaq they reacting to a glut of ipos. On the investment publics back. I take no joy in this but i told you so all year i predicted the ipo cycle would end with a whimper and now its here. Busted deals like peloton. On the heels of smile direct and lyft and uber. Boo theyre booing, becoming the norm there is a big reason why it keeps getting hammered especially the turbocharged Growth Stocks. Did you see them today kind of to the point the president i hope follows through to block more chinese iphonipos no, no, aagh i dont chatter about limitations by the president causing the market to get hit because anything thats not flat out suggesting compromise indicates that were much furthe further away from a trade deal than the bull has hoped. As someone who wants the chinese to play fair, i think a ban on chinese ipos would be a blessing its not whats in the cards, i can tell turns out talk is really about limiting American Investment in chinese companies.
The fed gave us what we wanted, the market implodes. Dow plunging 334 points, s p plummeting and nasdaq 1. 19 down honestly, there was Nothing Shocking about fed chief jay powells statement but people dont understand how the game is played its insurance and not the start of the easing cycle. That upset everyone hoping there would be a lot of rate cuts galore including those betting the dollar would decline the fed is supposed to be cage gee about this remember the last time powell told us the longterm plans in october, the stock market crashed. Promising a series of rate hikes was a big mistake. Hes not going to make the same mistake here by promising a series of rate cuts. Hes not stupid. Of course, President Trump piled on how powell let us down. You can say that trump let us down by firing yellen who is much closer to trump and putting powell in, and enough powell bashing for heavens sakes hes on the case as there is plenty of evidence, positive news enough to befuddle some fed watc