Bridge. All right. So lets bring in abc seven news meteorologist andy patel. Yes, sandy is here to tell us exactly how long this heat will last. Sandy. Yeah, and dan and emma is just one more day for some of our bayside and inland communities of this heat. Let me show you a live picture. It was a picture perfect setting for the blue angels. Just nothing but blue skies, no fog and a record setting at that. Three cities actually tied their previous records. San jose, 95, oakland, downtown 93 and sfo 92 degrees. All right. It was hot elsewhere, as you will notice, 98 in fairfield, mid 90s for places like napa, santa rosa, concord, livermore, 97 in santa cruz, 95. In redwood city, it was 89 in fremont and 85 degrees in half moon bay. Right now were still feeling it. Its warm out there 80s and 90s. That heat advisory has been extended for one more day for areas shaded in orange until 11 p. M. Tomorrow as that heat risk will remain in the moderate to high category. For those who are sensitiv
Were going to tell you about the new drug trial results weighing on that company today. Guess how it went. Well, it went well for someone else yeah. Exactly. Box office blues Movie Theater stocks are getting crushed again today. Six superheroes cant even save those shares being very opaque here but well explain coming up in a little bit. First, breaking news, just this afternoon on fed chair janet yellen, our dom chu has more on the story. All right, so guys, Federal Reserve chairman janet yellen will be leaving the fed completely in february and this is what some fed observers say is no real surprise. Fed chair yellens term as chairman expires in february we know this and President Trump has already made his pick to be the next fed head thats current fed governor Jerome Powell, of course, pending confirmation by the senate there had been some speculation around the notion, perhaps, yellen would maintain a presence on the fed board of governors since her term adds a governor of the cen
Regional bank bb mpdbb t kelly will join us. Toll brothers, shares down 8 , and some provisions in the tax bill that could make it tough going for the housing sector well explain. By the way, tomorrow lululemon reports earnings that stock has been up 25 over the last six months. Big comeback there we have a debate on whether that rally can power higher into year end. But we start with the breaking news out of washington today. Plenty of it, again. Kayla tausche has details fo kayla . Reporter bill, we learned nearly 40 House Republicans signed on to a letter drafted to be sent tomorrow to republican leadership, including the Senate Majority leader Mitch Mcconnell and Speaker Paul Ryan as well as senator orrin hatch and congressman kevin brady that requests the removal of this first in first out provision its a controversial proposal that has remained in the Senate Version of the tax plan that essentially requires investors to sell older stock first. It would raise about 2. 5 billion ov
Hurricane irma is a category 4 sthoorm cou storm. The path is still you unseuncer puerto rico and florida are areas of interest. Here are the big corporate stories. United technologies buying Rockwell Collins for 23 billion. Under the deal, rockwell Share Holders will receive 140 per share in cash and stock. Thats an 18 premium to the Closing Price on august 3rd. The Companies Say the Aerospace Systems segment would be combined to create collins Aerospace Systems which would save 5 billion by the fourth year of completion greg hayes will join our colleagues on squawk on the street later this morning that happens at 9 30 a. M. Eastern time. Lego announced plans to lay off 8 of its work force lego reporting a 5 drop in revenue for the first half of the year the company said most of the 1400 job cut also happen s wille end of 2017. And Rovio Entertainment is planning an ipo. The mobile games studio will list shares in helsinki in a move looking to boost growth the Company Finally returned
Put in pla help prop up the economy during the great recession. Its plan is to begin rolling off its 4. 5 trillion damage sheet, which consists mostly of treasuries and mortgagebacked securities. Officials also hint one more Interest Rate rise this year is likely. As a result, bond yields rose and stocks why volatile. The Dow Jones Industrial average advanced 22 points to an alltime high. The nasdaq was off five. S p 500 rose one, also a record. Hampton pearson has more on the new era the fed will begin ushering in. Reporter as expected, janet yellen and her fellow monetary policymakers left Interest Rates unchanged and announced the beginning of a plan to start trimming the more than 4 trillion worth of bonds and mortgagebacked securities purchased by the feds to combat the financial crisis and the recession. Our Balance Sheet will decline gradually and predictab for october through december, the decline in our Securities Holdings will be capped at 6 billion per month for treasuries a