26 inches of rain in 24 hours. It is every bit as bad as it. The volunteer navy back in action. They just showed up when word got out that the texas Louisiana State line was in deep trouble in deepwater. The flood came suddenly and those suddenly and though sukarno could take very little with them. This is a new wave of evacuees. Another spike in gas prices. You are paying more at the pump right now as we go into the labor day weekend. For since more than yesterday but the wholesale price of gas, rising sharply youll be paying even more next week. It was just one week ago today when word of this disastrous storm for surface. Meteorologist janice dean shot everyone went on this program she forecast 25 inches of rain to south texas. Many places eventually got double that. What a week it has been. Jam pack show for you. The stock market continues to rise in the north korean throttle rocket and threaten to bomb again. Varney company is about to begin. Train to now come in about half an hou
Donation of 1 million. The details on his report at least initial 6 billiondollar request. Harvey wrecking havoc on the energy sector. Gas prices surging long lines forming at the pump. Major impact ahead on the busy travel weekend coming up. Futures are showing gains across the boards, dow, s p 500 and the nasdaq there, the dow and s p up in august, that was the fifth straight month of gains and the nasdaq up two months in a row. The nasdaq closed at alltime high yesterday. Investors, of course, eyeing the august jobs report due two and a half hours from now. Economists are expecting 180,000 jobs were added last month, tun employment rate Holding Steady at 4. 3 . We will bring you special coverage of the job report beginning 8 00 a. M. Eastern time. In the meantime, in europe lets check stocks there, england, france and germany we have gains across the board firing on all cylinders around the globe. In asia overnight markets were mixed with nikkei and shanghai heading higher. At home
One Million Dollars of his own money to Harvey Relief efforts, and he is urging congress to approve 6 million for immediate Harvey Recovery efforts. This, folks is a dire situation in texas now. Youve seen pictures and heard stories. At least 39 people confirms dead. 82,000 homes have been damaged across the entire great state of texas. I mean it, when i say the great state. They are in our prayers. For the latest, jeff flock is live in houston where finally the cleanup efforts are underway, but its a pretty daunting task, yes. Reporter it is, but if you could see what youre going to, what i see now, you would not be as daunted. This is one of the 82,000 homes. Look what is going on in wes and christie bowdens home, volunteers, these are all volunteers. They have come out of the woodwork, look, get out of the way here. Coming at you, dave. Taking out drywall and what . Cabinets, granite, drywall. My sisterinlaw is helping with all the wet stuff, logging it. Doing a wonderful job. We ha
Missions, helping to save the lives of texans and express my gratitude to both individuals as well as First Responders from louisiana for being such tremendous humanitarians. A pressing issue in texas is the issue of fuel. Now, this is an issue that is pressing in part because of a reaction to some media reports, where the facts are that theres plenty of fuel, plenty of gasoline, in the United States of america. Theres plenty of gasoline in the state of texas. All that said, we are ensuring an even greater supply of gasoline so we can tamp down any concern about accessibility to fuel that people may want to access over the course of the coming Labor Day Weekend. Working with all sectors of the oil and gas community, from refineries to pipelines. From operators, strucking companies and retailers. We have worked in the past 2448 hours to alleviate concerns about access to gasoline and to ensure that more gasoline will be coming or is already coming to the state of texas. Working with our
Of a thirdrate hike this year, but they say perhaps, they need to slow down. Quote, it was noted that some patience in removing policy accommodation was warranted a few of these participants thought no further increases in federal funds rate were called for in the near term. That upward trajectory of the federal funds rate might appropriately be quite shallow. To sum it up, trish. Fed is worried about persistent low inflation. That they want to go forward with another rate increase in december, there is disagreement in pace of future action on rates and that key quote, might result in the federal funds rate staying uncomfortably close to its effective lower bound. Back to you. We have robert luna, and steve cortes an our very own lori rothman there at nyse for us. Steve, start with you, why is there no inflation . Why is it so low . Well, this has been a persistent problem obviously ever since the Great Recession we came out of. We had low growth, and weve had very little wage growth.