Coverage. Blake burman with the latest from the white house, Lauren Simonetti is watching the markets and Edward Lawrence is in washington. Lets kick it off with edward. Reporter exactly. Chairman Jerome Powell, Federal Reserve keeping Interest Rates where they are foreseeable future. Federal reserve chairman Jerome Powell said the coronavirus had Significant Impact on Economic Activity, employment and inflation, further lowering expectations. The Federal Reserve chairman believes well see doubledigit unemployment when the next Unemployment Rate comes out. He backed off saying there would be a robust Third Quarter going farther, saying some uncertainty around when the crone cron treatment will be available is when in fact the economy will start to pick up again. But he would not say if the announcement after treatment or a vaccine changes anything that the fed is doing. Also Federal Reserve open Market Committee statement saying that the fed will keep rates where they are until they ar
Percent. Shanghai stocks down by close to 1 a decline of more than nine tenths in europe there have been some green arrows the dax is up by. 2 the cac is up by a quarter percentage points. Stocks up in italy, spain and london crude oil prices which ended last week just shy of 59 a barrel, check this out right now, down by about 44 cents. Still, wti trading above 58 at 58. 51 a barrel. Now this morning the big news of the day. Publisher meredith buying time, inc. , for2. 8 billion thats the price meredith will pay 18. 50 for time, inc. It publishes wellknown magazines such as time, peopl people. Meredith received 650 million a lot of people raising questions about what this means. Raising 650 million in backing from the billionaire Koch Brothers, charles and david koch are widely known for supporting conservative causes. They say the magazine business is a good investment in the press release koch industry says it will not have any seat on merediths board and will have no influence or e
We are halfway through the trading day, and its been a little choppy. Julie this has been a flashback to what we were seeing last week where we are seeing a diversions between technology in the form of the nasdaq going lower as the dow gains on nearly on1 . It appears we are seeing rotation into things like financials out of things like technology, as we see some optimism surrounding the tax plan, but it is not universal. If you look at the nasdaq, the largest Cap Tech Companies are being affected more. That is outpacing the declines in the broader nasdaq composite. A couple examples of stocks we are seeing being traded lower. And square. This appears to be a combination of factors. Weve learned that a Company Paypal acquired was the victim of a Cyber Security breach that affected as many as 1. 6 million accounts. Both paypal and square do not have as much to gain from a tax cut because they have a tax rate. Low im not sure if we have a chart of those companies. There they are. Paypal
Live from the cbs bay area studios this is kpix5 news. Ues. Creeks overflowing. Tonight dangerous rockslides, highways shut down, emergency rescues and creeks overflowing, tonight the storm damage all around the bay area. Tonight hundreds of people told to fact up and get out immediately pack up and get out immediately after a Northern California levee breach. Also tonight this giant new waterfall is pouring down in full force right behind some bay area homes. Good evening. Im ken bastida. Im elizabeth cook. Right now some parts of the bay area are under a flash Flood Warning. Meteorologist paul deanno begins our Team Coverage tonight. Thankfully the storm has exited to the east, but in its wake scattered showers and there will be plenty overnight tonight and through the day tomorrow. Most of those scattered showers are in the north bay right now, marin county, napa county, sonoma and lake mendocino county, one just exiting napa, one right over novato and petaluma is getting more scatt
Live from the cbs bay area studios this is kpix5 news. Ues. Creeks overflowing. Tonight dangerous rockslides, highways shut down, emergency rescues and creeks overflowing, tonight the storm damage all around the bay area. Tonight hundreds of people told to fact up and get out immediately pack up and get out immediately after a Northern California levee breach. Also tonight this giant new waterfall is pouring down in full force right behind some bay area homes. Good evening. Im ken bastida. Im elizabeth cook. Right now some parts of the bay area are under a flash Flood Warning. Meteorologist paul deanno begins our Team Coverage tonight. Thankfully the storm has exited to the east, but in its wake scattered showers and there will be plenty overnight tonight and through the day tomorrow. Most of those scattered showers are in the north bay right now, marin county, napa county, sonoma and lake mendocino county, one just exiting napa, one right over novato and petaluma is getting more scatt