Reporter matt boon in oakland, matt . Reporter liz, its been warm and windy out here all day. Those gusts causing issues overnight behind me they toppled over part of a tree into power lines causing additional Power Outages for people here in mt. Claire. As crews clear the fallen branch, pg e says its working to restore power to the 800 or so customers that have been affected. But just down the road in mt. Claire village, the stoplights are off and signs like this dot many of the businesses. We did find julia, owner of this store in the dark. Her world upside down. The power is out but youre here working. What are you doing . Im working on my taxes. Reporter the old faxed way. The Old Fashioned way. Reporter while the shut offs may impact her business, she understands the importance thinking back to the oakland fire of 19 91. It best not having business for one or two days than not having business for almost a year. Reporter up in the hills, resident richard fills up the gas generator
Thats the worst performance in two weeks. The dow has been down. Nasdaq have been down five out of six the tech selloff was worst it continued down 3 led lower by stocks like apple the same old story big volatility coming. Those are really the tail thats been wagging the dog for a while. Youll see the nasdaq is lower once again the other two averages hanging in there the s p on the flat line nasdaq down another 50 points. Fur watching what is happening over the last two months they closed. Dow at the lowest level since the third. The 10year sitting at 0. 66 the story that seems to never end, tiktok. Here we go the owner bytedance applying for an export license in china as it pushes for a deal in oracle and walmart. They did not mention the pending deal and technology it was seeking to support calling the deal dirty and unfair they have no reason to approve it all of this raising questions about that prospect and what that would ultimately look like. What happened earlier in the week we
Without some sellers coming out of the woodwork which is why the dow shed now tepid nasdaq lost 3. 4 twee have to use this moment to regroup and figure out the markets. I think todays action was pure profit taking. But the sellers had a lot of excuses. I any its worth going over them in detail. Its forearmed rail recovery thesis really moderating. It might be right. Its certainly a possibility if you dont get stimulus. Second, the reopening has clearly been stalled by the outbreaks. Its trying to get the mortality rate substantially lower than the original outbreak in new york some of that is because weve gotten better treating covid as we learn more about it, it is novel if you were on a vent lator in new york, you only had a 20 chance of surviving. Youre now at 70 . You have a host of treatments you didnt have before steroids, remdesivir, blood plasma i dont want to doubt it even if more people survive, complications are horrifying nobody wants to spend weeks in the hospital nobody w
Hour the u. S. Passing a tragic milestone now. 50,000 deaths related to the coronavirus. Meanwhile, all eye ons ts on the of georgia as it tries to reopen well get a live report. Over to you, kelly thanks. First, lets get to bob to wrap up the volatile week we had for stocks and whether it still has legs. It might. The good news is we got the Coronavirus Relief package passed we got a lousy durable goods number just look at what a mix day we got here boeing has been around the dow all day. Its down 15 on the week. That durable goods number was a lot about boeing h home depot, apple, this is all over the place its not a clear direction i think the problemis the rall has stalled out a bit. Have you noticed that . Were down 2 . We have gone nowhere since april 9th. The bears are saying the economy doesnt justify 2800 in the s p 500. Its signaling a bigger slowdown the bulls are insisting the big Balance Sheet companies are doing fine feds on their side theres arguments on both sides. One
Of 2020. Feeling the squeeze, the Energy Sector under continued pressure as debt continues to pile up and drillers are taking new steps to drum up desperately needed cash. Well tell you what they are doing as Worldwide Exchange begins right now good morning, good afternoon, good evening welcome to wherever you may be watching lets look at the futures. They are slightly lower on this tuesday. Earnings are ramping up every single day every day but maybe friday is a huge day youve got a number of dow components out procter gamble, mcdonalds, bioagain, novartis, lockheed out. Down on 11 im not saying ignore it but it could change as the hours roll on the 10year is keeping calm. At 1. 78 right now keep in mind, we started the year nearly a full percent higher lets go around the world. Markets there finished higher. Partly because of improving sentiment on those trade talks you saw the Chinese Markets here finish higher in japan continues to inch its way up europe, a little bit different sto