Tiktok. Thatow we are hearing thiller. And of 49 fortnite, apple says it is terminated ebix developer account. Developer account. A lot going on. The fed, the prime and a strut japan stepping down. Earnings. The ending of the Republican National convention. Walk us through what has impacted the day. So much and all of it ended in record high for the nasdaq and s p 500, investors encouraged by the fed latest policy shift, the idea that perhaps it is reinflationary in nature, stocks respond in kind. Apple, this is interesting, over the last two days apple is underperforming, down the last two days 1 , closing a little as were mentioning now, terminating the epic caliber account in the midst of the developer account went epic refuses to pay the 30 fee. That apple is standing up for that along with alphabet shows they are forcing developers to comply with roles. It will be interest rules. Im not sure how this would impact the bottom line for apple but it must not be all that much. You ment
Like all week, the president also making an appearance on day three of the rnc. In the year 2020 the American People have had more then our share of challenges. Thankfully we have a president with the toughness, energy and resolve to see this through. Reporter wednesday night the rnc rolling on, Vice President mike pence giving his nomination acceptance speech at ft. Mchenry in baltimore, joined by his wife karen. And President Trump also making the trip before his big speech on thursday, also speaking, one of the president s longest advisers who will be leaving the white house at the end of the month. He picks the toughest fights and tackles them as complex problems. He has stood by me and he will stand up for you. Reporter as for democrats, Vice President ial candidate Kamala Harris will speak in washington, d. C. On thursday just before President Trumps rnc speech and fireworks show. They are honing in on the president s handling of the pandemic as the reason he should not have four
All in the bay area, low clouds, lots of this mo the afternoon hours, we are watching the fire zone forecast is welcome to the wind picks up, nothing too extreme around time is 50 miles an hour. More of your forecast a few minutes. Standing by right now we have an update on the commute. Reporter good morning, we have traffic that is moving along slowly on some of these commutes at the bay bridge toll plaza for example. You will see its backed up all the way to the main metering lights which are on, this is about a 15 minute delay, nothing unusual about that should be gone by 8 00 unless it is a problem this is the 880, i moved too quickly for me. Here it is, goodnews. If you are leaving the city in fremont, the crash is clear, traffic on the ultimate pass approach is still very heavy. The south a commutes to 80 in san jose and all the other freeways are doing well, lets get back to the headlines. Straight to a developing story, we are following overnight, hundreds of people took part i
And Lisa Abramowicz. Tom good morning, everyone. It is news packed. Politicsng things on and international relations. The operative word this morning is stimulus. It is stimulus in europe, an announcement shortly, and presumed stimulus meetings in washington. Jonathan in europe, it is about signal, not size. Making progress, they meet again at four clock p. M. Local time, 10 00 a. M. Eastern time. In the United States, it is about size. Theres a 2 trillion spread between democrats and republicans as Congress Returns to work in washington. Not small change. Tom what do you see in the bond to 4 when it devolves trillion, ive even seen a 5 trillion deficit . What does the bond market look like into the end of the year . Lisa it is wide open. Basically, saying we will give you money at the lowest ring cost on record in order to borrow money. You see that for the u. S. Government, also for u. S. Corporations. Right now, the cost for investmentgrade companies to borrow in the United States i
Role, on the Long Distance round table, ben levisohn, carlton english and jack howe. The fed has been sometimes blamed for propping up the market, but it looks like fridays selloff may have been in part due to what the fed was saying and doing. Thats right. I think the fed made a mistake. They released the results of their a bank stress tests, and at first they looked just fine. The dividends were capped for the third quarter, but that wasnt much of a surprise. Normally the suspension of buybacks because no ones really buying back banks anymore, but they left a lot of uncertainty about future quarters. As investors looked at those numbers, they a really started to get a bit afraid of what it meant for bank stocks, and then they started to fall on friday. And it really isnt good for the market at this point or investors. Tech is about 27 of the s p 500 right now. If thats near dot. Com levels. Investors really need other choices besides tech, and they were starting to feel comfortable w