And Steve Paulson has perfect weather, to begin our new week. And a huge congratulations, that is seriously major. Very nice. Yes, and the weather is not bad, even in livermore its not bad. We do have a lot of high clouds spilling out, weve had a lot of lows going over the bay area, this time tracking to the Pacific Northwest, the system itself, a dry front, if you will, is dragging across, giving a tiny bit of fog, but 50s, 60s on the temps. Everyone is very close. The average height now is 67, and that is the forecasted high, so 89, the wrecker hide record high in 1908. 8 34 now on the sunset. The lows in june have been very warm, so, look for high clouds and breezy to windy, it will pick up as the system slides by tonight into tomorrow. Highs near average around the bay, and the city also look for inland areas. Over to sal now. Things usually start to back up on the bay bridge toll plaza. Are we seeing that right now, sal . Yeah, things are a bit slower than they used to be, steve.
Order through midmay. And Sonoma County Stay Home Order is set to expire this coming weekend. The director of Public Health saying among other factors, he would like to see a sustained decrease in the number of coronavirus cases before lifting the order. I do think that we need to again see some of the changes in the data that i have talked about today, the reduction in People Living with covid19, the increase in testing, our ability to monitor the epidemic and get adequate ppe. Reporter he said when the order is finally removed, it wont be back to normal the way we remember. This means, establishing and sticking to what will be the new normal. This will include staying 6 feet apart, covering our faces, washing our hands frequently, and still, staying home as much as possible. Reporter one of my questions today was whether we could see this order extended again, while they did not answer that question directly, certainly if they dont see the numbers trending in the direction they want
Discussing just that, an early return to work. 9 40 eastern time today on this program. There is outrage at Speaker Pelosi loading up the stimulus package with a host of items unrelated to supporting workers and industries. For example, canceling post office debt, the return of obama phones, same day voter registration, 35 million for the Kennedy Center for performing arts. What has all that got to do with getting money to people who have just lost their jobs, millions of workers thrown out of a job. However, treasury secretary mnuchin and senator schumer did meet last night, and they suggested that a 2 trillion rescue package, stimulus package, is close. Well see. All this has given the market a shot in the arm. For much of the morning, we have been limit up for the dow jones average and at the opening bell, the dow will be up, what, 900 points, maybe more when the restrictions of the limits on trading are off. S p, nasdaq also up 4 , 5 . Clearly, investors like the 2 trillion rescue
A far better measure is the ten Million People who filed for jobless benefits in the last two weeks. Fed governor lockhart just told maria the jobless rate is already more like 10 . Clearly, we are in an employment crisis, and another report that comes up at 10 00 eastern will likely show the Services Sector in collapse. Thats a strong word to use but its accurate. Later this hour, we are going to talk to larry kudlow, the president s chief economic adviser. I will ask him how bad is it and he will spell it out. Look, with nearly 300 million americans under a stayathome order, the economy is shut down. Morgan stanley says that between now and june, the economy will shrink by 38 . That would be a depression, the likes of which we have not seen before. Travel, shut down. At the airport tsa checkpoints, they are processing two million fewer passengers every day. Thats down 93 from a year ago. Those flights that do take off, virtually empty. Public transit ridership, down 75 . Commuters ju
Nasdaq above 9000 for the first time. Ry lets get used to lets get you started with a quick check of how markets closed. It was a holiday shortened week, but we saw some markets adding to those gains, those record highs, so the s p 500 was led higher by consumer companies. Nordstrom, macys, jcpenney all advancing. Not to mention u. S. Jobless claims fell to a threeweek low. Today the biggest gainer after saying this Holiday Season was recordbreaking. That surpassed and closed above 9000 for the first time, but usp stocks under u. S. Stocks under a little pressure at the moment. Lets turn to sophie for what to watch. Sophie that post christmas lull. Low japanese futures nudging higher. Some green chips could top this, which snapped an eightday drop. In tokyo, we watch for reaction to a report that the president of three Japan Companies will step down following scandals in the insurance unit. We are also keeping an eye on retailers across the region after amazon reported a recordbreaking