Start off cold this morning. But very sunny skies outside right now mostly Clear Conditions in fact our live camera showing east bay zone right now this are camera on top the east bay hills on berkeley and we can actually see a street to the bay, so its a nice clear morning. But it is very cold check out these that chilly temperatures 40s and 50s right now that im tracking but things are going to change into the afternoon because were going to start to heat up and actually get 70s on the board if you can believe that were going to be well above seasonal averages but then tomorrow, big changes are on the way because look at all that rain all that green on your screen that storm system is headed straight or direction in fact we could start seeing raindrops early tomorrow morning so your commute into work might be a little bit of a wet one so make sure that you grab the umbrellas get those ready tonight and your rain coats because were going to need those for a couple of days, ill let you
Prices and the economy depends on the course of the virus the committee will maintain its purchases or increase to smooth market funding it repeats for the second time that it seeks inflation moderately above 2 . This is a carbon copy of the last statement i counted seven words changed and none of them really substantial or meant to convey any particular meaning i think that reflects the big changes. Jim was saying last time exceeding the 2 inflation goal and theity si itdesire not to mo many waves while the country counts votes in this president ial election. The other dissenter did not attend the meeting due to the birth of his second child. Congratulations to Neal Kashkari absolutely. Well spend half an hour dissecting those seven words what do you think of jims point, which is the absence of stimulus may have put the fed even more under a spotlight to do even more absolutely. I think thats true. I think the fed will feel pressure to do more, but it creates an interesting quandary,
Conditions continue were looking purple spots up and ran county look all around mount and then finally in the north bay. Weve got widespread areas in both napa and sonoma counties, particularly higher in the hills but anywhere where the winds pick up thats where p g news potentially going to be shutting off power if they havent done so already weve got Team Coverage kron fours will tran in the east bay Sarah Stinson in the north bay and john trouble in the Weather Center john lets go to you because this is forecast is very important. Yeah we are looking at a very windy next few hours ahead of us, especially although its going to remain breezy even into the afternoon ahead of us windy conditions noteworthy for areas that dont usually see the strongest of winds either this is pretty a substantial all across the region, lets get a look outside its it hurts our notice. Theres really no fog thats because these are dry offshore winds pushing mostly out of the north and out of the northeast.
Dow topping 28,000 today for First Time Since february. Its the value trade thats working. Is the rotation for real i think as long as you have confirmation in the bond market, you can believe in it but when that link breaks, the stocks the value stocks probably crash again. We witnessed an episode like this that happened from the middle of may through the middle of june. It was almost a full four weeks. It was violent to the upside value stocks, cyclicals, the quote reopen names Small Cap Value did incredibly well the Growth Stocks took a pause the high flyers corrected but when that ended, it didnt end gently you had crashes in the reopen stocks you had crashes in the value stocks both asbestbsolute and relative to growth its a Real Recovery if that link breaks and i know yields have gone up a bit here and abroad as long as that continues happening, im fine with it. I think you have to watch that more than commentary, more valuation, more than anything else jpmorgan had a great note
In severely ill hospitalized patients for patients on oxygen it cut death by a 5th will Oxford University professor Martin Landry coleading the trial said this is a result that shows that if patients who have coma 19 are on ventilators or on oxygen are given dexamethasone it will save lives and it will do so at a remarkably low cost co lead investigator peter or be added its a major breakthrough doc some of the sound is inexpensive on the shelf and can be used immediately to save lives worldwide meanwhile stocks also jumped after the u. S. Commerce Department Released data on Consumer Spending for the month of may after 2 consecutive months of record drops retail sales posted a record 17. 7 percent thats more than double previous 8. 4 percent estimates well in march it plunged by 8. 3 percent and in april by 14 point 7 percent retail sales may. Nearly half of all Consumer Spending and almost 70 percent of u. S. G. D. P. Last year americans spent 14. 00 trillion dollars well for more we