Few minutes ago. Lets get to Jackie Deangelis kat the commodities desk. The drawdown crude inventory was 6. 4 million barrels. Both numbers were steeper than expectations. The gasoline drawdown almost 3 million barrels. Thats adding to the boost youre seeing as well. Crew traders are watching for trumps announcement on climate change. Maybe some of the regulations will roll back and it will be good for the drills are in the country. A little bit of mixed circumstances taking us higher today. Big story to watch today. Thank you, jackie. Some of the top names in media taking the stage at code last night including Sheri Redstone and time warners tom bewkes. Take a listen. You have a joining set of b subscribers with different bundles. Thats where we see it. Well have to see how the new parts of the media or the video infrastructure, whether they mitigate the loss from the old infrastructure. And for more we are joined now by founder and chairman of the Case Foundation and krp eo of revolu
Markets setting new highs. It does raise questions about whether many of the biggest names are simply worth your money or not. Doc, youve been talking about the banks being a good place to be. Jpmorgans cfo starting this yesterday whether brian moynihan, Morgan Stanley sounding the same sort of alarms. Why should investors be in these stocks . You should wait for a moment like yesterday in Goldman Sachs and you see a 7 or 8 collapse. That happens. It happens in great stocks, jpmorgan, whether its the whale. Yesterday it was reaction to the venezuelan bonds that Goldman Sachs purchased for 31 cents on the dollar. People werent questioning whether they were going to lose money on the bonds, they were questioning ethical questions about should you be supporting that particular dictator and so forth by virtue of basically backing his bonds. Arent we talking this is a simple story. Trading is down. Yep. Trading is bad. Yields are too low. Banks cant make money. Why buy the stocks, erin. The
I am splitting the difference here but most locations will go down, san jose from 85 to 83. 90 today, 95 gillroy to santa rosa. Plenty of low clouds, for the monsoon moistureit might come back but for this morning it is about the he cloud deck which has come back a little system is roaring back, low 50s, mid 50s to low 60s although brownwood is at 64. Hills better row and pacifica at 54. And theres your system right there, that brush it is high a little bit to the east, west south west at 22, westsouth west at 27. No moisture for tahoe, fog and he clouds will give way to sunshine for most, 60s to 90s. All right. You got an issue in freemont. Thats front and center. Yes, it is. Unfortunately it is blocking three lanes and before that there was a crash too. There are two separate incident, southbound 881 is near dakota under the pa day overcrossing but it is near dakota and the other one is both of these crashes in the last, i dont know they have been out there for about 45 minutes now,
Cool. Really a lot of people are outside. A lot of them telling me they are used to this. These are temperatures theyre accustomed to on a warm weekend here in the east bay. We talked to some people to see just how they were doing on this hot sunday afternoon. So, i was not staying cool. I was just burning up in the sun. Just walking around, going into toy stores and stuff to stay out of the heat. I saw that. Reporter that little boy we checked in with earlier today. He also told me his favorite ice cream flavors are strawberry, rocky road and birthday cake. Right about now i say yes to all three. Its pretty hot out here. Abc7 news. Thanks, melanie. Sounds good to me, too. If youre hoping for relief during the overnight hours, check this out. This is downtown walnut creek after 12 30 this morning. You can see the temperature is 77 degrees. Still quite warm out there. Also overnight, a warning about the fire danger because of the heat. San jose, a car fire quickly spread to the brush on
Francisco to antioch has been feeling the heat. Abc7 was in san jose where nine cooling stations are open until 9 00 to give people a safe place out of the heat. Well begin our team heat with Melanie Woodrow whos at walnut creek. Are you hot out there . Reporter i am. Probably feels good in the air conditioned studio. In walnut creek its the best of the both worlds. You can be outside, get a little sun. If you get too hot, you can dip into any air conditioned stores around here. Just how hot is it . Take a look. We have a shot of the infamous temperature sign in walnut creek. About an hour ago, you can see it was 102 degrees. That was probably about 5 00. A little after 5 00 in the evening. Still over 100 degrees. Weve seen a number of people out here in downtown walnut creek. Of course, lots of them hanging onto ice cold drinks, ice cream, whatever they can do to keep cool. Really a lot of people are outside. A lot of them telling me they are used to this. These are temperatures theyr