The fed releasing the monetary report to Congress Ahead of testimony next week. We go to cayla toushy. In the blue print, the new chair sticks to the script touting data base decisions, a strong labor market, and inflation that is moving toward that ever important 2 target. It should be noted that in this report the majority of fed members said they saw inflation at that target by 2019 and stabilizing at that target over the next few years. They did say that theyre monitoring the effect of online retailers and international effects on that inflation level over time. For unemployment, the fed report said that hourly wage growth has been moderate but the labor market is near or a little beyond full employment at this point. For 2018 and 2019, the median estimate is 3. 9 ticking up to 4. 0 in 2020 as for the markets, the fed report pointed out that notwithstanding recent weeks, that is the mention to volatility that weve seen in the markets that equities remain higher and bond spreads hav
Reporter will look like this. Work crews creating two sets of fireworks set to go off on the two barges, anchored near peer 30. The producers are keeping quiet about what it will look like. Music is different. The way they will be performed is different. Tricks up our sleeves. 25 minutes of fireworks. Reporter she a Fireworks Show producer. He says the show programmed in a way that if the fog makes an appearance it wont cloud peoples ability to see the show. Chances of some fog is always possibility. We use the big stuff and focus on the midrange, 500, 400, 300 feet. And we have been successful in making those visual no matter what happens. Reporter morning those helping among those helping is this preschool teacher. Really cool. It is a lot of fun. I am excited. I am, you know, nervous because i have never done it. Reporter nothing to be nervous about. Quarter to half Million People are expected to be watching. Back live. The barges are expected to be towed out tomorrow evening. The s
Any index it is listed on. It is naturally a very heavy weight on the nasdaq. Swingingones backandforth between gains and losses. The same is true of the s p 500, down 3 10 of 1 . Taking a look at treasuries, we see some selling on the treasuries market, the 10year yield going up. The yield on the 30year going up slightly, 2. 88 . About oil. Alk this is fascinating. We finally see a green arrow here. Holding well under 50 actually, i am thinking of rent crude. 473ork crude is down at and rent it is just under 50 a barrel for brent crude. Mark time for our top stories. Shire is making an unsolicited to makensolicited offer a biotech company. Shire says it represents a. Remium of 35 but there is no deal on the horizon just now. Shire says becks also baxalta has declined to engage in substantive discussions over the new proposal. Matt and all cash deal to buy icc health care, representing a ipcs shareice of price yesterday. The man who has been overseeing George Soross fortune will leave
Meanwhile Carl Cornelius who describes himself as a friend of the suspect, just as it seems smith was getting his life back together. I am devastated, he was a friend since i have been here me and a few other neighbors, we are all close up here. Back out live, in case you are wondering, Court Documents reveal that smith is arrested for unlawful entry for jumping the white house fence but a month later in april he reached an agreement with the court that he would not be prosecuted if he stayed out of trouble. His next court date was object. Reporting live from westchester, walter perez, channel 6 action news. Police are investigating three decomposing bodies that were found in a garage in the Strawberry Mansion section of philadelphia. Residents say they smell aid foul odor for days and one went into the garage to investigate and that is when they made the gruesome discovery and sources tell us that a frunral home around the corner owns the garage. Chopper 6 hd was over the scene earlie
Additional clouds creeping in from the west. There might be a sprinkle popping in from the northern and western suburbs. It will be brief and not give you much concern. 54 in trenton. 52 in allentown. 59 in philadelphia. 54 in wilmington, obviously as you head out to the bus stop or get the car started, its cool this morning. Cape may, 66 degrees. It will be bright with clouds, the high 73 thats well below average, but comfortable. On the bus stop its on the cool side make sure the kids are comfortable. They might like a light jacket and throw it over their shoulders on the way home. 52 degrees in the suburbs, 60 in urban centers. Hurricane irma has diminished in strength slightly. Its not a category five it is now a category four. Its still dangerous and doesnt spell much difference over the weekend for florida. Reporter all eyes on that one. As you get off to your friday morning commute its light volume. Traffic on the blue route moving just fine. Eastbound traffic heading toward kin