The opioid epidemic. The Justice Department announced the settlement today. Purdue has proposed a separate 10 billion settlement to resolve state and local claims. Onbal news, 24 hours a day, air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in over 120 countries. I am Mark Crumpton, this is bloomberg. Vonnie welcome to bloomberg markets. Exclusive interview with former Federal Reserve chairman Alan Greenspan, his thoughts on the state of the was economy and the stimulus logjam. Markets are now lower and bouncing around on speculation whether lawmakers will finalize a stimulus deal. After thea announces bell today, all but guarantee to report a fifth consecutive profit. Markets,heck of the the major indices are down at this point, about a quarter of a percentage point of peace and they had been higher earlier. The dollar index is partially to blame at 92. 5 so lots of weakness for the dollar index partially thanks to sterling. Brexit trade talks are on
Well be in the mid 80s in antioch. 92 in downtown san jose. Well look at all our microclimates coming up. We have an offramp closure happening. Thats right. Chp says they may have to close this because of a crash. Theyre heading out there. Expect this to be the case. As we get to the bay bridge, no problems. Up here in walnut creek, southbound 680 past the 24 interchange. The south main offramp may be closed as they move one of the vehicles involved. It sounds like a relatively minor crash. Thats the situation in development as chm is getting on scene there. A crash south 680 as well as 101 at third. Ill check the surface streets for now. Right back to you. 4 31 right now. California students are seeing big changes as they start the school year. Not talking about facilities or curriculum. Were talking about the student id. Kris sanchez live in san jose with the Important Message going out. How is this being received, kris . Reporter suicide is the second leading cause of death for teen
Hitting issues that matter to the markets and your money and were always trying to make you money here on cnbc. That goes for the next generation of investors as well. Thats why we will reveal the highest paying College Majors on this wednesday july 31st as Worldwide Exchange begins right now. Good morning, good afternoon, good evening and welcome from wherever in the world you may be watching. Welcome to Worldwide Exchange. Im Brian Sullivan we are calling this the stock of the day. It is apple. Results quieting the critics apple stock right now up nearly 4. 5 the headline is this, yes. Iphone sales are slowing but one other part of the business is beginning to shine. What that is and more on apple and the big move in a moment happy fed day. In nine hours the Federal Reserve is expected by pretty much everybody to cut rates for the first time in 11 years that cut will likely be by a quarter percentage point, which would take the official base borrowing rate down to just over 2 ahead o
Transamerica tower and on the right some of the chilly temperatures. Well have cold warnings for a while. Thats our new weather pattern. We have spoiled with the warm weather earlier in the february and now the cold air is here and its over california. Heres a look at the current temperatures. Look how chilly it is. 32 degrees in napa. You have reached that freezing mark. 33 in fremont. Livermore below freezing at 28 degrees. The winds there are calm. And so its not dispersing any of that air. But we also are getting some strong northwest winds in santa rosa, novato, and that is going to add to the wind chill. So it does feel cold. All over the area now. Mountain view, calm conditions. San jose now winds have subsided. Oakland northnorthwest winds at 7. Look at san rafael. 16mileperhour sustained winds. So these winds are still strong lingering from the storm that came through yesterday brought us some scattered showers and pulled us out of that dry streak for San Francisco. We got. 01
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