59 minutes left to trade, kayla. And that green screen is not something we have seen in a while. We have a big show ahead today on closing bell. A big deal for big steel well talk to the ceo from Cleveland Cliffs and his outlook on the economy later, sneaker startup all birds scoring 100 million in fresh funding. Valuing the company at 1. 7 billion the coceo will join us to tell us how his Company Plans to spend that cash and well have that later on in the show. Lets focus in on the big show were tracking to days rally. Theyre covering the latest tensions in the tech cold war with china start us off on the Broader Market and what youre seeing behind the scenes today. Yeah. Market making the case that last weeks lows and got some traction near the levels its not Something Else tachlt a look at the s p 500 year to date all the indices have a similar look with different mag any tudz we were talking about this level for a long time. This is where we hit the lows a few times last week aroun
News on the banks. We were discussing on closing bell the banks finding out this evening what this extra stress tests theyll go through this fall will be there will be two severe recessions it will be tested against as opposed to normally one. Its possible we could interpret those severe recessions as not as bad as they could have been june saw unemployment spiking to 10 . This test has two versions one is that it spikes to 12. 5 and then dips more quickly to 7 7. 5 both of those factors perhaps highlight the severely adverse scenario didnt get that much worse given the year that were in than perhaps it could have got. 10 unemployment to 11 or 12 is not that much worse. That will also include a stock market decline by 30 house prices falling 26 all of course headlinegrabbing changes but not that much worse than they could have been given the fact that we already knew this early set of tests was coming there is one line that stands out at the end of the statement that says, the board re
Sarah . Yeah, shows the power of the fed there. When that headline hit, boom we have a great lineup coming your way Jeremy Siegel and rick reider join us. Plus, well speak with larry kudlow about the latest debate over the future of enhanced Unemployment Benefits and what happens when they run out . Well also take a closer look at one winner amid the volatility, the video game sector. Well speak with Strauss Zelnick. That stock has been an outperform they are year lets focus in on the big stories with one hour left of trading. Mike santoli tracking the action and phil lebeau and joining us to discuss the outlook for the banks is brian foran start us with the big come back that weve seen in the market this afternoon theyre saying buy the dips were in a dip buying environment. They proved it this morning. Take a look improvement. We got that one weeks time. Things are looking stretched at the highs. One week ago today 3232 was the closing level then we got that shakeout. Thursday most pr
Conditions throughout the afternoon. Daytime highs around where we should be. Upper 60s for San Francisco. 73 for oakland, 76 in san jose, and 81 for concord. I will show you the future cast winds going throughout the day and the windiest spots in a few minutes. Im anne makovec at the live news desk. Breaking news in the south bay, a car crash has killed person. It is also leaving normally busy roadways shut down for the next few hours this is at the expressway and redmond avenue in san jose. The car crash, the only vehicle involved in the crash, shortly after 2 00. It flipped over, and when exdr, busay got there they the driver died on the scene. There at redmond avenue, several lanes shut down, and this is going to be going on and off for the next couple of hours. Gianna will keep you posted trafficwise, but len, back to you. Thank you. This morning a confrontation over pride flag at the livermore Farmers Market is going viral. You need to read the rules and read the section about co
I will show you the futurecast winds and when we will see the temperatures on the rise in the extended forecast, coming up. Im anne makovec at the live news desk. Breaking International News this morning. North korea blew up an interkorean Liaison Office along the boarder today, obvious blow to the tense relationship with north korea and south korea. The tensions have been rising with the threaten of severing ties with south korea and taking propaganda action over leaflets from defector groups. They are critical of kim jong un. The southnorth joint liaison building is now destroyed. It opened in 2018. It was only there for a couple of years. The south korea government saying whatever happens next, whatever actions it takes are the fault of north korea. Back to you. New this morning, one person has died after a nasty crash in san jose overnight. Police were call to the scene just after 2 00 this morning to a solo vehicle rollover on almaden expressway. The road closures will remain in p