That weve been having so lets start here whats going on with this because we saw the dow as i mentioned up almost 1300 points on monday down 786 on tuesday up almost 1200 wednesday down almost down over 1000 again today do you ever remember a time when youve seen this kind of yo yo effect with the markets to this extreme. Well again you have to look at it percentage wise that weve seen this kind of movement but obviously we werent at 28000 at the when it started i think what youre seeing here is just a market that is showing you that the top is probably yes you know weve talked about on your show for the last couple of months that i thought we were in the early stages of a recession investors were looking for an excuse to sell and i think thats what youre seeing here i think this is very good topping action to a market thats probably going significantly lower from here and i think youll see a lot of these days but again remember when you look at percentage wise its feels bigger but its
Wednesday it has been nothing short of a wild week on wall street with the dow swinging a 1000 points or higher twice in just the past 3 days monday markets posted their largest single day again wednesday the dow posted its 2nd biggest gain as the healthcare sector shot up thanks to that super tuesday win for joe biden investors almost seem to be cheering signs of a Global Response to the corona virus which includes more than 8000000000. 00 in emergency funding coming from congress but that optimism didnt last for very long as california declared a state of emergency after a coronavirus related death and 53 confirmed cases in the state well meanwhile the Airline Industry has been hit hard over the past few weeks we told you about that its all thanks to the good and the decline in air travel its so bad in fact that fly the europes Largest Regional Airline has collapsed into administration on thursday morning as the economic damage caused by the ongoing virus escalated the airline cease
Outside in palo alto, few clouds overhead and more clouds throughout the day. The temperature trend doesnt go straight up like previously. Kind of flat through the day with a slow warmup headed our way. Highs in the 60s today which is seasonable for march. So well talk about this. Mike, youre hear being a crash in san jose. North 101 at tully. We dont see slowing for the last 10 minutes but there is a crash reported in this direction. It sounds like everything is moving off to the shoulder and no major injuries. Looking at a smooth flow of traffic there. Along the peninsula, the east bay is great. Slowing like southbound highway 13. There are road crews there and reports with someone with a flat tire mid span from the richmondsan rafael bridge. And light rain. But if it is mid span, it is narrow and dark through the area. So well bring you the follow up but no problems comes into the north bay. Back to you. We begin with the latest on the coronavirus. Test kits passengers on the cruise
Couple of days over 8 if you are looking at five days. If you were expecting a quick pull back, you are not getting it s p futures are off by 8. 5 nasdaq off by 31 all three major averages have lost all three of the gains for 2020 so far. We have looked at treasury yields so far. If that goes up, a tick higher well take anything. It is hard to take the big drop when you have one day at 22 keeping things in perspective. Our top corporate story. Disney ceo bob iger is handing offer the keys to the Magic Kingdom immediately. Hes not going anywhere i have a theory this beautiful succession is so orderly it is weird that it comes down to, oh, im leaving today. I want to hear what you know and some of your water cooler scuttlebutt. And go wild. My son informed me yesterday, bob iger is stepping down. Replaced by bob chapek hes been there a long time. Head of the global parks unlike Nbc Universal hes not a content guy hes a parks guy we think of it differently at comcast. Parks are important
Summerland. It comes after an airstrike that killed in ukrainian general last week. Reporter we heard that fifth teen missiles were fired. 10 were here and 1500 u. S. And allied forces. One reportedly landed in their area in Northern Iraq there is no report of casualties and the pentagon is discussing the damage. This video from iraq tv. They sent more than a dozen Ballistic Missiles were fired. The Iranian Revolutionary guards said this is a retaliation for last friday from the u. S. Drone attack that killed general solemani. I rounds response came as they held a funeral and Burial Service for the general. They called it selfdefense and we do not seek escalation or war but we will defend ourselves. In a tweet he said all is well, missiles launched from iran and also from two military bases in iraq. So far, so good. The president and his advisers said that killing an accurate forecast from the bay areas weather authority, that is the power of 2 was necessary. They were looking to kill