Round san jose down through saratoga. Temps in the upper 40s to low 50s right now. Scattered showers as we head to the afternoon. Lets check in for that massive morning commute. It is already starting. Weve got a spot as you work your way through livermore weston 580. A new accident on 880 as well. A live look 880. Were starting to see a few brake lights over all as you work through the southbound side into hayward. This portion near the colosseum doing ok but not a bear we have a crash at the 980 connector and it looks like it is reported as a traffic collision our possible spin out. One vehicle did hit the right shoulder while. There some activity in the right lane as well as a center divide. Chb is headed to the scene. Taking a look at traffic along 580, it is slow. 45 minutes already from 205 to 680. We have a crash westbound right at livermore and that is causing a bit of a backup. They may have pushed it to the right shoulder because we just went from red to yellow which means th
Case. Ever . Ever. Vice mayor patricia is talking about cities all across the state that are being ordered by judges to get rid of their atlarge voting system, implement districts, and get in compliance with the california voter rights act. But i have not seen any legal precedent that says three districts electing six councilmembers satisfies the voter rights act. That is the basic, the basic issue here. I called to order this meeting of the charter review. The idea to switch to three districts came after countless hours of research and debate by the socalled charter review committee. Council member terms with dagger so theres always an election in every district. Mayor lisa gilmore says the cocounsel members can share the workload, and Council Member Teresa Oneill says constituents will have not one, but two people to go to to solve their problems. Reporter how do you know this is going to work . Well, we never know. If two, three or four years from now people dont like it, we can cha
Facing another grilling from lawmakers about the safety of the 737 max. Risks facing the stock Halftime Report starts right now. All right. Good to have you with us on this wednesday from post 9. Our Investment Committee here. Lets begin with the markets the count down to the fed. Investors expecting a cut, but it is the what comes next that matters most of all. And for that we bring in Steve Liesman, who is at the fed today. Thats what everybody wants to know, right . Everybody knows a cut is coming. Its whats next. What i think will happen is powell and the committee will carve out flexibility to react more to the data i think the issue, the way that powell probably not going to put it this way, but simply to understand it is we may cut next time we may not cut next time but were definitely not going to cut were not definitely going to cut is a good way to think about it in other words, the market is building in automatic cuts from meeting to meeting and i think powell will want to b
That and so much more on making money. Charles earnings from cocacola, schlumberger, just to say a few. Tech stocks are falling out of the gate. The fed may end up being less accommodative. How should investors reconcile all the diverging trends . Phil blancato and jack ablin. All this anxiety is exacerbated near alltime highs a the love things going on. Start with the earnings picture so far . Happy with it . Better than anticipated . Yeah. Expectations were probably as low as a limbo stick. The fact is analysts have been calling for an earnings recession for the last three quarters. So we come into q3 with a negative 3 growth rate. What will likely happen is, that well adjust up close to zero. Analysts will lower their forecasts for next year. Charles here is the thing, phil. Big names have delivered. Also i think, i find it important to remind the office were comparing to the best year perhaps ever in earnings. Pullback is not the worst thing that can happen. Im not worried about fl
Good tuesday morning. Welcome to squawk alley. Im Carl Quintanilla here is jon fortt. Morgan brennan is at the International Astronautical congress more from morgan and amazons jeff bezos in a moment well begin with Wework Softbank plans to take control of that company valuing it between 7. 5 billion and 8 billion. A huge drop from where it was valued, also cutting adam newmans stake down to double digits good morning to our guests good morning. Mike, i know that youre f m familiar with softbank, softbank a big investor in uber why is softbank doing this with wework is this an existential moment for them are they at risk of this investment taking them under this is a real crisis for softba softbank the story the past few years is uber is a huge high point or low point, and wework and how they valued the company, but soft bank, a huge vision bank came flooding in giving companies that arguably shouldnt have been propped up more runway and a longer time to survive and vcs out here say th