They wont last. The fog will disappear, too. You can see the view from easton. Look at the fog this morning. With temperatures climbing, the fog will disappear. Its sunshine that takes over, 77 degrees. Thats at 10 00 this morning. Well warm into the 80s today. Upper 80s for philadelphia, 87 degrees with clearing skies. As the temperature goes up today, the humidity was so high yesterday will be coming down, making for a much more comfortable day and it will clear out the fog this morning. 80s inland for new jersey at the shore, 81 degrees with plenty of sunshine today. Well take a look at your hour by hour forecast for each of our areas when im back in ten minutes. Right now, Jessica Boyington is watching the roads on a wednesday morning. Jessie . Were watching the schuylkill expressway still. Thats because there is a very Early Morning accident around girard avenue. Headed westbound, coming out of the city, one lane is getting by. This accident is now over into the righthand lane and
So in a day when the dow gained 108 points, lets go through what the market is really saying. First translation, the same stocks that lead us higher for the last few years, no longer in charge. This time buyers are swarming over the banks. Thats right, the banks. Why . Because last week in jackson hole we learned we could be facing not just one rate hike but two this year. Not only did janet yellen tell us that a rate hike could be on the table, but vice chair Steven Fisher said there might be time for more than one rate hike in a short period of time. Now who benefits from rapid rate hikes . Who makes the most money . The banks. They can take your deposits and invest them risk free at the higher rates that the fed controls and the risk share ought mautomatically goes up. And thats why bank of america is definitively breaking out at last. Thats why the stock of wells fargo actually roared today, up more than 2 . Thats a gigantic move. Thats why j. P. Morgan lost lustre. Do not ignore t
Postal savings bank of china closer to the worlds biggest ipo. 40,000 branches, would you believe it . Follow me on twitter at rishaadtv. Dont forget to use trendingbusiness. Trading day underway and hong kong in 30 minutes. Singapore, taipei, and malaysia starting the midweek session. David hopefully the second day of gains. The first one in four days yesterday. Friday weresince not a selloff. Back to the levels of last friday. There is a lot of caution across markets, not just equities. Look what is happening across the fx space, dollar saying the reststrength, but of the currencies, uneventful so far. As aussie dollar, the euro well, the taiwanese dollar getting the best bid. Classesok across asset and see the price action. 10 year bond yields, have a look at this. Year, this is very interesting. The last time we have seen such a tight and narrow trading range on the yield of the u. S. 10 year was the start of 2012. Is what we have been seeing so far this august. Belowuth korean 10
Driving potential investors to the stock line as the american stock market but not the American Economy suffers daily from hedge funds starting rel t relentle relentlessly in and out of our stock. The dow sank 42 points and s p gave up and dow declined its one more day we have to suffer from the volatility these funds leave in their wake. They obscure the good news happening in this country. Our horribly weak stock market this morning was like a different market for the rest of the day. It reflects their Collateral Damage an not our fundamentals which is why i came bouncing back later in the day. The market regained its equilibrium. Consider the positives for a moment. Positives hidden by bizarre moves like the hideous opening this morning. Before the opening i was incredibly heartened to learn Consumer Spending in this country rose. 5 , income increased. 3 . They show a confident consumer emerging. Its something that should have driven our stock market up and not down. Its clearer the
Taken. Stateoftheunion. Income inequality. The president takes aim tonight in front of congress. Whats causing the widening income gap and what are possible solutions . All that and more tonight on nightly Business Report for tuesday, jan 28th. After six losing sessions in a rows dow found muchneeded gains after the selloff in emerging market currencies levelled off. A batch of strong earnings reports before the opening bell prompted investors to buy stocks again. Todays gains happened despite a surprise drop in december durable goods orders and a big selloff in shares of apple following disappointing earnings late monday. Heres a look at the closing numbers. The dow jumped more than 90 points, nasdaq added 14, the s p up almost 11 points. More now on those earnings from some bigname companies out before the bell today. That gave investors something to cheer about. Morgan brennan has our report. Reporter four companies posting Fourth Quarter earnings that beat wall streets expectations