Failing schools and trump goes after it today. Another record for stocks, 18,636, thats the alltime closing high. If youve got a pension plan, 401 k , ira, inheritance any money in stocks, youre doing remarkably well. Good news, olympians are running away with medals and bad news, they get money for winning and its taxable. Varney company is about to begin. Yes, it is. All right. Look at your money. This is how were going to open up on wall street about a half hour from now. Down for most of the indicators, but thats not a big seller. Remember the dow did close at its umpteenth record high of the year. Oil, 45, 46 a barrel. Theyre talking production freeze to limit supply. Oil up, print money and stocks go up. Thats the general rule. And were sitting on a string of records. I dont know how many people actually saw it coming, its a surprise to most people. Its a surprise that corporate earnings arent that exciting and i have to say that the economy is not booming and stocks are expensiv
Creek course were asked to shelter in place. Our breaking news continues now on twitter at abc 7 news bay area. And sky 7 hd was over a brush fire that broke out just before 4 00 p. M. In the Guadalupe Park of san jose. Burning near the 300 block of west julian street, west of highway 87. Fire crews were able to knock it down pretty quickly. No word on how it started or whether anyone was hurt but we have not heard of reports of anyone being hurt. And this certainly is not the only fire burning tonight. Lets head to Southern California. Ive never seen a fire behavior so extreme. And it may only get worse. This fire burning in San Bernardino county just explodes inside. Typically overnight a fire will actually decrease in its intensity but in this case, because of the strong winds, the fire continued to burn. Fire Officials Say the fires here and throughout the state are just unprecedented. It is to the point where explosive fire growth is the new normal this year. You are looking at a
Even the nasdaq is in the green. It was resisting for much of the day. The s p 500 going above its 200date moving average, the technical a full technical level many traders have been watching good the dow is gaining strength as the day continues. The dow is green for the year as well. If you look at the yeartodate chart for the Dow Jones Industrial average. 2 , as we have had this run ever since a february 11. The s p is. 2 lower on the year. The nasdaq is up about 4. 7 on the year. We have been watching oil strengthen once again today. 7. 5 . What is notable is that it touched on both what he dollars a barrel for the first time this year. We have been watching oil for that reason. If you look at the total market cap of the United States, even with todays games, and this is as of the close last night, it still looks like we have had a lot in total market cap this year thus far. And little bit of recovery there but not enough to put that number into the green. Dallywhat helped lead the
(CORRECTION: TSX CLOSING FIGURE WAS AS OF WEDNESDAY'S CLOSE)
Toronto stocks climbed Wednesday after the Bank of Canada trimmed its key policy rate.
The central bank reduced its target for the overnight rate to 4.75%, with the Bank Rate at .