Credit suisse upping iphone estimates and earnings. Wells fargo being investigated by federal prosecutors. The latest on the controversy facing the company and what its ceo told jim earlier this week. If you want to watch nfl football tonight. Apple shares aiming for fourth straight day of gains up more than 9 so tar this week. Company announcing initial quantities of the iphone 7 plus have sold out worldwide ahead of tomorrows debut in stores. The same goes for the smaller iphone 7s in jet black. Also Credit Suisse boosting estimates for both this year and next. Its led the dow for two straight days. After all that misery having been added in march of last year. Tim cook came on mad money when the stock was at 93 and said, listen, its not the end of the world. Nobody believed him. Said it was a desperate act. 20 points later doesnt seem all that desperate. I think that whats selling we all have our checks with these. We know sprint came out very publicly. We know t tmobile came out pu
Points, the s p by nearly 20, and the nasdaq by about 57 points. Also being helped, im sure, by the news from china. What do we think about this . I saw the rally in oil prices on friday. Basically a rumor that you were going to see Something Like this. If its contingent on iran and iraq both playing along with it, that raises all kinds of questions. Seems to be the same caveat weve heard over and over again. Iran has theyve walked back some of their more explicit talk about ramping up production. Still, theyre so eager to get back in the markets. And iraq is desperate too. Lets not forget iran boosted output a month ago by 500,000 barrels a day. If saudi arabia and russia and whoever else want to get together, they need to get iran in the room. And lets not forget that a freeze is not the same as an output cut. If demand grows, then theoretically supplydemand will come back into balance. If demand slows because of china, the freeze leaves the gap where it is. Oil is still under 30 a b
Big implications for stocks and first the markets. Stocks snapping a fiveday winning streak ending at lows of the session. The s p 500 closing below 2,000. Oil was weak sending Energy Stocks lower by 4 and financials pulled back also to the teen of 11. 5 . So with cracks starting to show in the month long rally that weve seen, which half stocks or sectors could be the first now to burn out . Pete, what do you say . You know, im looking at the Energy Sector and specifically when i look in that sector im looking at will drillers and the problem with the drillers is they were so shorted and so hammered that they have added an absolutely incredible runup. Oil has made this move 26 to call it 37 and now all of a sudden you get a bit of a pull back and look at some of those names. They pulled back right along with it. Im not so sure that those names really have flipped around in terms of has the Company Really has much changed about everything with the drillers over the last week or two . I
Heaviest rain will be in the north bay. And the temperatures in the 60s. Here is sal now on a friday morning. You are absolutely right about the bridges. You will see feel some of the gusty winds on the bridges. So be careful out there. And lets take a look at interstate 880 and the traffic is moving along nicely. As you drive through here. The bridges, were going to watch them closely. Chp put out a warning for driving. Around the world tributes are pouring in for prince. Fans say thats music and legacy live on. People have been gathering outside princes estate near minneapolis to mourn his death and celebrate his life. And his sister told the crowd that prince loved all of you. Thank you for loving him back. His death comes as a shock for many people surrounded by many unanswered questions. And we are in the studio with the investigation into princes death. Reporter the circumstances surrounding princes death remain a mystery this morning. But there are questions about possible drug
They are investigating what caused it in the first place. They typically occur when theres space and air in the ground where it shouldnt exist and there is pressure and it collapses. And it causes the sink hole. We will be looking to see if the sink hole or the sewer main break, how they are related and of course, make a determination and of course fix it. Reporter the sink hole opened up yesterday and it started as a depression in the street. We spoke to a woman who said she saw the depression and heard the cars rolling over it and called 311. They came out and we were on the scene as the sink hole gave way. Someone called in 8 30 this morning. Oh oh it just fell in reporter you can see just how big it really is. It will take crews about two or three days to repair the sewer line that runs underneath and then fill this hole to make it safe again for cars to travel over. In the meantime, there will be more traffic on nearby roads traveling east and west. In San Francisco, christien kaf