First to our top story, job numbers came out friday while overall payroll gains were up in july along with a rise in hourly earnings. That wasnt enough to keep stocks out of the red, the worst week of 2019. This as President Trump decided to ratchet up the trade war with china, announcing a slew of new tariffs for the start of september, and dont forget the fed cutting Interest Rates for the First Time Since 2008. A move chairman powell describes as a midcycle adjustment to keep the economy expanding. We have tom thibodeau, the ceo and our editor mike regan. Why were markets caught off guard by the president s escalation of the trade war, when really there has been no end in sight. If you look back to the g20 meeting last month, there seems to be, if not progress, at least 80 escalation of tensions. When we started the week, President Trump was tweeting on monday about china, criticizing them. At that point it didnt seem like he was ready to escalate things with fu catching people offg
Good friday morning. Welcome to squawk alley with Morgan Brennan and jon fortt at post 9 of the New York Stock Exchange obviously watching these markets here dow is down 331 after yesterday, deep in the red. The dow, the s p, and the nasdaq are all on pace for their worst week of 2019 tech names getting hit pretty hard, apple, alphabet, facebook, intel all down around 2 , guys this is a period in which trade concerns might result in selling thats a little more indiscriminate than weve seen in recent months and among the tech names, a look at cisco thats down closer to 4 . Some other cloud names not doing so well. You see, dell is down more than that you know, Network Appliance well, that one has its own issues but certainly, hp down 5. 5 a lot of these trade issues rippling through not just the names that have higher valuations or have high flyers, but some of these core enterprise tech names, vm is another onedown almost 8 in this trade if you look at all the major averages, were now
Lets get your Early Morning started with a look at your forecast. Tim miller is in the First Alert Storm Center with your wake up weather. A cold front will move through the area during the day, ahead of the front look for cloudy skies with scattered showers during the day. Rain n ance 50 . Highs will max out right about where they are this morning in the lower 50s. Tonight, a few scattered showers, colder, low in the middle to upper 30s. Thursday, partly to mostly cloudy, a few scattered showers, highs near 50 clearing and warmer by friday gop frontrunner donald trump is once again bringing his campaign to the hes holding a rally tonight at harmon tree farm in gilbert. Its free and open to the public. But you do have to register online beforehand. It begins tonight at 7. With doors opening at 5. With just days before the Iowa Caucuses, trump and his closest challenger, ted cruz back. Reporter pkgas follows ted cruzs final pitch framed as dire warning, sounding the alarm among conserva
Responsible for e fire that bued mulple uns at bijou sf storage. Ll folsom is tracking the test devopments this stor bill shawn thomas faces misdemeanor arason charges. And mo seriouselony chges because lice s he was ying to p himlf o as anher person. In the mntime renters of a dozen other unitare viims e fi. Piles blaess. Pulled fromragets. I just found out about this today. I left work and came he. And its worse than you though yah,ah. Elishclifton, recently moved iwith family while oking r a w placto liv i put everything in my storage unhile i got back on my feet and everything is gone now. And now she knows the fire was started by a man living in one of the units. It confirms previo suspicions thateemed odat ather unit. Heast couple times i came i would co that way and go always open. Recognized things re not right right and llowedhr. And it was suspicion by a police that lead to the quick arrt of thomas. The first officer on scene spotd m walking insidehe feedtorage aa. Went to ma
50 million face masks bought by the government in april wont be used in the nhs because of safety concerns. A radical overhaul of the Planning System is promised by ministers to try to get more houses built in england. And, after 400 years, beavers are being allowed to live in the wild again in england. Coming up on bbc news golfs first major of the year, the us pga, is getting under way three months later than planned and without fans in San Francisco this afternoon. Good afternoon, and welcome to the bbc news at one. Three days of mourning are under way in lebanon, after tuesdays deadly explosion in the capital beirut. At least 137 people are known to have died, and dozens are missing. The explosion is believed to have been caused by tonnes of Ammonium Nitrate being stored unsafely in a warehouse. The french president Emmanuel Macron visited beirut this morning and promised International Help but warned that if reforms arent introdued, the country will continue to suffer. The uk is s