Despite okay earnings and positive reports on the economy. The Dow Jones Industrial average dropped 112 points to 23,329. The nasdaq was off 34. And the s p 500 fell 12. Bob pisani has more on what drove todays decl reporter a momentum selloff on wall street today. U. S. Stocks suffered their worst trading day in two months. The market is very concerned about a sudden spike in Interest Rates and it has a couple of reasons to be concerned. First, durable goods was much more than expected, a good thing for the economy but it raised questions about inflation. John taylor may be the frontrunner for the fed chair, spooking investors since taylor is known to want to raise rates faster than the fed is doing so far. That caused some investors to take money off the table, particularly in stocks that had strong gains this year like semiconductors. Even stocks like boeing sold off after monster profits, up 60 . Then uncertainty on tax reform. The market has priced in good news but its not clear i
Something brewing in the tropics that could actually bring us a much better chance of showers once we get into the labor day forecast. So i got the latest on tropical depression nine in a couple of minutes and send you over to Julie Grauert now with live drive time traffic and accident update. Shiri, want to remind everyone route 1a has been opened after earlier deadly accident. We had several lanes in the ted williams tunnel at exit 26 closed but it is reopened and as i take you out to the map you could see average speeds r now in the ted williams tunnel 13 Miles Per Hour so still seeing heavier than usual volume as things get back to normal after that has reopened. Shifting east westbound rather waiting for the accident to clear on the pike, eastbound at route 30 speen street in natick. Live drive times, 15 minutes on 24 from 123 to 128. 45 minutes on the pike eastbound. 43 minutes on 93 south from 495 to the leverett connector. Breaking news near Logan Airport. Two people are dead t
Wearing red for a reason. All wearing red of course to promote awareness for Heart Disease which unfortunately is the number one killer of women in our country. One and three women will die of a heart attack or a stroke so obviously Preventative Care very important and were just raising awareness why it is important to get that heart checked and important heart health. Well be doing that throughout the rest of the day on our sister station news 4 afternoon and evening to be part of the cause and the effort to bring awareness. First we are going to send it over to Tim Studebaker talking about the forecast and the super bowl. We have your super bowl forecast if your headed up forwards the area, santa clara, if you are tickets headed that way it is a beautiful weekend in the bay area 65 with mostly temperature and approximately where well be at game time at 3 30 in the afternoon it is looking just fine for the game the temperatures will fall back during the game through into the 60s of co
Richard. One Year Anniversary on the Planning Commission. I figure we can celebrate a light moment in this craseyness today but i want to talk about why 75 howard is a important project because this is a question about our values. As people who live in city and people in the bay area as whole. There are people thattled you 0. 16 production in shadow was more important that people that can live in the city. People told you that [inaudible] parking garage was more important that people that can live in the city. There are people that told you we are a violation and the 20 people that came out for housing are irviolation of neighborhoods. That is a question about values. Do you want to be a welcoming and open sit aetd that brings now people in or do you want to shut off the gate and force people to be displaced because there isnt enough housing to support them . I dont want to be aigated community, i want to be San Francisco. You mentioned somebody said that we are techies and so on, toda