Good morning, welcome to squawk alley. With me here at post 9, Kayla Tausche back again all three major averages hitting record highs the dow at one point within 150 points of 25,000 its backed away from that a bit, but were still keeping an eye on it. For more, philip swagle and jim paulson, chief investment strategist welcome to both of you jim, we keep hearing simultaneously that the market is rising on tax reform optimism and also that tax reform is priced in. Which is it . Well, its hard to argue that its priced in when it keeps going up every day thats for sure. I dont know what has not been vetted by the market as far as this tax policy is concerned the news has been out there for some time. People got a very good idea exactly what its going to be and already have adjusted their earnings estimates and so forth, so i sort of lean in the camp, too, that even though theyll probably pass it this week, most of that is included in the market here, but its hard to get in front of a one
He tells us he has a good guess as to what caused todays derailment raiment. Here at 30th street station many students are heading home for the o holidays and they were concerned given amtraks derailment south of seattle. Its a little scary. I think its crazy and i really feel for those people andheir families. Generally i feel safe but aveling in inclement weather its in the back of my mind. Robert mongeluzzi represented 34 passengers on amtrak train 188. The train derailed in Port Richmond with 238 passengers on board. Eight were killed and over 200 injured. The train was traveling over 100 miles an hour in a 50 Miles Per Hour zone when it hit a curve and went off the tracks. He sees striking similarities to todays derailment. The first thing that you think about when a train derails on a curve is it was going too fast. And when you see the locomotive, which is heavier and goes on a Straight Path while everything behind it falls over, it is eerily reminiscent of amtrak 188. Reporter
On the west coat will becoast we this afternoon. Reporter omar jimenez reporting. While the ntsb works to determine this crash it brings back memories of the crash that happened here in that Port Richmond just two years ago. Amtrak train 188 derailed in may 2015. Eight people were killed and more than 200 others were injured in that incident. The train was traveling 106 miles an hour in a 50 Miles Per Hour speed zone. Investigators determined that the engineer was distracted by an incident with a nearby train. In september, a judge dismissed charges against that engineer. You can follow the latest developments of the fatal amtrak derailment on 6abc. Com. You can watch video from the scene in washington state. Pennsylvania state senator day lon leach released a new statement. John rawlins live in Center City Philadelphia this afternoon with the very latest including john some reaction from the governor. Reporter thats correct. Leach is a state senator who has ambitions his goal in 2018
This is has been a difficult rescue mission as crews struggle to try to get into those crash train cars still dangling over the highway. Amtrak train 501 is still dangling from an overpass tonight after it derailed in Washington State just outside of tacoma this morning. Five crew members and 78 passengers were on board. Three were killed. When i stepped out i didnt really realize i was standing on train car. Reporter Emma Schaeffer is one passenger who had no idea something was wrong until she woke up in different place than where she was originally seated. I was thrown from my seat. You were throw thrown, into the other seats. Okay. Because i was taking a nap at the time actually. Reporter horrific seen shows train cars crushing cars that were driving on the highway below. Multiple cars and trucks were struck by train cars that left the train tracks went down on to the road. Reporter investigators say self people on the ground were hurt but the deaths were all people on the train in
But first, developing right now, mangled cars, twisted wreckage. There was windows and glass and very particular smell that i cant really describe. Deadly Train Derailment on the west coast. Now, fox 29 news at 10 00. Brand new train route reason for excitement. Tonight a grizzly scene. The site avenue deadly Train Derailment. Some of the train cars are still too dangerous right now for crews to search. As investigators begin their work to figure out what went so terribly wrong. Thank oosphere joining us at 10 00. Im lucy noland. Im chris oconnell. Iain page is off tonight. This all happened during the morning rush in washington sta state. Nought night, the mangled mess of this tragedy still evident. There are three confirmed deaths deaths. More than 100 people injured. It is not yet known how many more bodies may be inside train cars that havent been searched yet. And we still do not know a cause of this crash. We have Team Coverage of the deadly Train Derailment. Our Dave Schratwiese