President trump tweeting about Jerome Powell again following the fed chairs comments the last hour. Morgan, the president continues to tweet in realtime im reading some of these tweets for the very first time. I can tell you, just a second ago, i was in the west wing and saw Peter Navarro and Robert Lighthizer, just standing just outside of the oval office, presumably set to go in and meet with the president to talk about this chinese retaliation this morning. They didnt talk to me, so i dont know exactly what theyre up to there, but they are within feet of the oval office as of a couple of seconds ago. So the president tweeting, within the past couple of seconds about china, responding here, saying, our country has lost, stupidly, trillions of dollars with china over many years. They have stolen our intellectual property at a rate of hundreds of billions of dollars a year and they want to continue i wont let that happen. We dont need china and frankly would be far better off without t
It is great to have you with us happy friday our Investment Committee today, steve weiss, jim lebenthal, brin talkingten rob seechen, and one of forbes top 100 financial adviser. Also here with us on set, tom lee, the head of research at global advisers. Stocks sinking this hour were at session lows right now. Take a check on the dow. Were witnessing a 473point drop or 1. 8 decline here s p 500, this is close to session lows right now, down by 57 points, or almost two full percentage points. The nasdaq getting hit the hardest, down 2. 3 semiconductors taking it on the chin right now President Trumps tweet sparking this drop, firing back at chinas new tariffs. Trump saying u. S. Companies are hereby orders to immediately start looking for an alternative to china including bringing your Companies Home and making your products in the united states. The president also says he will be responding to china tariffs later on today theres a lot we still dont know what we do know is this is an es
Main drivers for todays action. Coming up, sara eisen will talk exclusively to boston fed president eric rosen gren. These will be his quiet moments before going into a decision joining us for the hour is jim lacamp, Senior Vice President of Wealth Management at uvs i feel like when you look at this market there is a Little Something for everybody. You can find a reason to be bullish, bearish, we are all awaiting the feds decision what do you make of todays action and ahead of the fed decision. We have seasonality coming up, too, late july to late october is usually our most volatile time period in the market risks are symmetrical right now. We have upside, corporations are doing fairly well if you break it down to individual stocks and companies and a few sectors, theyre doing extremely well, and we have a tenyear treasury yield that is lower than the yield on the s p 500 so rates are very friendly, particularly if we get a rate cut, we think half a point based on what the fed governo
Red cross volunteers put in a collective 18,000 hours over the past ten days but Emergency Response is now over. There is potential Financial Systems to provide as well as referable to many other resources. Direct Financial Aid might be difficult for some to accept due to native culture. This woman isnt sure if her parents will take money. We receive or not. Reporter if money is turned down, Catholic Charity can provide services. One thing is certain, hue hong wants to help and will hold the mayor accountable it goes into direct assistance for flood victims. They have no place to live, so we have to get them someplace for them to live. Reporter david louie, abc 7 news. Flood control cost california 50 billion. Thats according to the states Natural Resources secretary today. During a Committee Hearing in washington today, harris discussed the flood risk with the state secretary of Natural Resources. Harris is trying to secure federal funding to upgrade ageing infrastructure. They say on
You can see how intense it was. Here is a map showing where this is happening between olive and lyndon avenue and california and pine avenue. No one was hurt and no one was inside the apartment when firefighters got there. Remember, download the abc 7 news app and enable push alerts for breaking news updates any time. Good evening, im dan ashley. Im ama daetz. To tonights top story, a sevenfigure donation to help people whose san jose homes were soaked by the flooding. Who dont receive 5 million . Thats the man with the money. 5 million hes giving away to help people whose san jose homes flooded. Most homes have been cleared for reentry however some parts are still not open for people to return to because of the damage and potential contamination from the flood waters. Today people in mobile home parks received free dumpsters so they can start clearing away flood debris. The Citys Department of transportation started cleaning the streets today and perhaps the biggest boost for flood vi