You. Thank you. So, when you were with us on august 7th, you said the market is fully valued. From then until then the Dow Jones Industrial average is up 6 , the s p up 4 we overvalued now . Not yet, no i would say that, you know, basically bull markets ended over valuation and i dont think were overvalued use whatever adjective you want to describe it the market is not cheap and its not expensive. So as i think ive been saying, i think were kind of approaching normalization, and to me normalization is a 17 multiple on earnings and the trick is what is the earnings youre looking at . You know President Trump and the republicans get their way, and we have a tax package, you can see earnings next year in the s p about 150 and the 17 multiple and 150, i think its 2550 that would be fair value, full value but fair values, and, you know, most bull markets end over valuations so took another 10 to 15 to that number. The trend is favorable and the conditions that normally lead to a big market
Busiest earnings day of quarter. The treasury secretary on the tax rollout. And the ceos of dow chemical and Southwest Airlines in the next 60 minutes. First up, the white house is pushing what it calls the largest tax cut and reform in history. This morning on the today show, the treasury secretary was grilled about how the plan will be paid for. And mr. Secretary, would you be willing to raise your right hand and look at the American People and say, i Steven Mnuchin promise you that this will be revenue neutral and deficit neutral . So right now, were working with the house and the senate. This is now about taking the president s principles and turning them into a bill that we can get passed and the president can sign this year so we can create Economic Growth. And were going to work closely with congress to get this done. So matt, yes, our principles are, we want to pay for this with Economic Growth and with reducing lots and lots of special interest deductions. Ive got to get your
Reporter now, later today, the santa clara Water District does plan to hold a special meeting at 1 p. M. To discuss the disaster. Live in san jose, maria medina, kpix 5. How much water is Anderson Reservoir holding right now . Reporter its only supposed to hold 68 capacity. Its supposed to be at 68 capacity because studies show that if there is a major earthquake, the reservoir would fail and cause parts of san jose and morgan hill to flood. Well, right now, it is 13 feet below the spillway and it is at 83 capacity. But the Water District says it continues to release water. Back to you. Thank you. Time now 6 01. Lets check traffic with roqui. The roads are not too bad now. Lets head out to the bay area roads right now starting with the golden gate bridge. Quick bridge check first. From marin county into San Francisco, you are looking good. Easy drive there. And not so easy at the bay bridge toll plaza. Those metering lights are on slowing you down expect 20 minutes between the maze and
They doubled the price of it. There was a lot of attention brought to it. They reduced the price and brought out a generic. It has made everybody take a look at the industry of drug pricing. They do a good job of sort of explaining just how crazy drug pricing has become and how hard it is to fix the problem. Of course, epipens, it is widely used with people with terrible allergies, including myself. And it is necessary. It is also especially necessary for kids who have a lot of allergies. It used to be that you could get two epipens for 100 apiece. Now, 600 is a lot. What peter shows in the story is just how hard it would be to fix this. Which is sort of the excuse that the ceo of mylan made. What she was saying, the ceo was saying, you cannot they did not expect regular people to be paying 600. It was sort of the price that they were charging insurers and drug benefit managers. And the idea was that there would be negotiations. If you dont have insurance, or if you had a height inevit
All of a sudden there was a lot , of attention brought to it. They reduced the price and brought out a generic. It has made everybody take a look at the industry of pricing drug pricing. The correspondent does a good job of explaining just how crazy drug pricing has become and how hard it is to fix the problem. Of course, epipens, it is widely used by people with terrible allergies, including myself. Carol it is necessary. It is especially necessary for kids who have a lot of allergies. It used to be that you could get two epipens for 100 apiece. Now 600 is a lot. , what peter shows in the story is how hard it would be to fix this. This is the excuse that the ceo of mylan made. What she was saying, the ceo was saying, you cannot, they did not expect regular people to be paying 600. It was sort of the price that they were charging insurers and benefit managers. The idea was that there would be negotiations. If you dont have insurance, or if you have a high interest adjustable plan, you