Live from the cbs bay area studios, this is kpix 5 news. A heat wave in california has triggered the first rolling blackout in california for over 20 years with more possible in the coming days. The bay area beach town is begging people not to visit but unclear how that could be enforced. Who will be vaccinated first when the shots become available, and what california and other states are asked to do ahead of time. It is 6 00 on this saturday, august 15. Good morning. I am emily turner. I am devin fehely. Lets get to our meteorologist. Yesterday was bad but thats only the start. Here is the view over the bridge with no marine layer this morning but i dont think anyone is surprised to see that. Although we did cool down in the upper 60s in the city after being in the mid90s yesterday. We shattered the record of San Francisco from the gold rush. We will do it all over again today. We have intense heat again today and it could get technically cooler tomorrow but dont think sunday will fe
First senator testing positive. Kentucky senator rand paul. Mitt romney having to go into quarantine after recently coming into contact with paul. This as negotiations over a 2 trillion stimulus bill to help the economy recover from the outbreak are hitting a road block. Democrats say the two sides are still far apart taking issue with key elements of the bill, including a 500 billion relief fund for corporations without any protections for workers. And what it has is, for instance, a giant, giant Corporate Bailout fund with no accountability. Reporter Senate Majority leader Mitch Mcconnell insists the bill is moving forward. Were fiddling here. Fiddling with the emotions of the american people. Fiddling with the markets. Reporter the senate plans to vote on that bill today, but with at least five senators now in isolation, there are growing calls for lawmakers to vote on that bill remotely. Abc news, washington. In just a few hours, the city of hayward will open its own covid19 testin
Plus his new shocking comments about cuba. Mondays february 24th fbn a. M. Start right now. All right were with off welcome to fbn am good morning to you at home im Lauren Simonetti had. Busy monday good morning everyone im cheryl casone. Lets get right to it here money this morning with humbling more than 2. 4 across the board as dow tanking 712 point 2. 4 and s p 500 down, and nasdaq is down 3 this morning down 279. Were seeing big moves in oil right now, theres a lot of pressure on crude this morning this is over concerns about a global chick slowdown think about Oil Consumption in china in particular right now were seeing oil down more than three and a half percent opposite story for gold, though, seeing that that is right to safety and looking for a safe place to go up two and a quarter percent. Seeing that with a tenure treasury yield as well tumbled to lowest level since july 2016, very, very close it all time hoes as concerns about Global Economic impact of the virus driving in
Indices drop sharply earlier, as the number the coronavirus cases continue to say rise and despite solid labor market and manufacturing data, yields are falling today. Some oracle employees are planning to walk off the job any minute now in protest of the fundraiser oracle founder Larry Ellison is holding to raise money for the reelection of at the President Trump. Well bring you any updates when we see them. Thousands of employees have already signed live pictures nothing to report there, but well bring you any when we get there. Joining us is stephanie link good to see you, as always were down about half a percent, so well off the lows. What did you make at that gut check this morning, and are you in fact encouraged by the way the market has steadily improvement that that ises that theres confidence with the ceos, and that jibes with a data here in the united states. Earnings are running about 3. 5 . I understand we have to deal with why the dollar is so strong, why is gold so strong
Thinks peloton is not just a fad. Cap bullish sentiment coming up. Continue with dominance of tech in the u. S. Markets. Up 1. 7 percent, nasdaq of more than 1 . Is something bigger going on . Let 2019. 2019. Feels like yesterday after the signing of the trade deal, it was just the stocks that dropped. Typically a relief rally would come after a big selloff from the major averages. It feels a little bit more like perhaps the early stages of euphoria with the bubble paradigm. It and dislocation been into the economic phase than a euphoria and 10 eight. Does that match the fundamentals . Greater than 20 times forward pe, as you note last year earnings fell by double digits. They are expected to fall for the Fourth Quarter and the First Quarter of 2020. By the end of the year, analysts are looking for double digits growth up for tech and the chips. For the chips, the first half of the year is difficult. Speaking of getting ahead of ourselves, i want to show you a chart here. Another day a