Thanks for joining us, im kristin zee in for ama daetz. Im dan ashley. For the first time in months, three california counties fall into the severe drought category, shown on this map in orange. And todays snow survey found the Sierra Snowpack at 14 of average while statewide its 27 of average. David louie is live with a look at the big picture and a glimpse of what we can expect this year. Theres no question people have been enjoying a string of warm and sunny days, heading out to trails and parks like this one. But there is concern that ha significant dry spell could imperil our water supply. However, the Water District says its a bit early to use word drought. The reservoirs owned and operated bit valley Water District. Theyre primed to capture runoff. But stretchesf sun and warm temperatures have some people wondering about another drought. A trodrought means theres a wa supply shortage. We dont have a water shortage because of the good work our communitys done to conserve water. O
Been a good week for the markets. If youre long, the markets are rebounding dramatically from the lows that we saw made up almost 60, 70 of the losses that we saw in the s p. European markets have also had what you might expect, a good week also. This morning no exception. Green across the board tenyear yield note has been a focus. Today didnt care down 2. 86. Theres a look at wti back above back above 60 solidly this morning yeah. All right lets get to our roadmap this morning. It does start with the market comeback two weeks since the selling began, and as we just said, stocks have been seeing what was one of the best weeks in years plus, well, the negotiation kind of continues broadcoms response to the meeting with qualcomm or qualcomms response to its meeting with broadcom signaling a deal well, is there one to be done . Were going to give you all the analysis on why thats probably not the case and a busy morning for consumer earnings. Numbers from newell, coke, kraft, campbells so
Governments relenting to the shut down with a shortterm funding deal. Mitch mcconnell praised the decision yesterday. After three days of an unnecessary lapse in funding, a bipartisan majority has brought the Democratic Leaders extraordinary filibuster to an end and pass the bipartisan deal to reopen the federal government. As i said repeatedly over the past week, shutting down the government isnt irresponsible way to do business. Markets rally on deal. The dow, nasdaq, s p 500 all closing record territories. Half a percent of the dow up 143 points or 26,214. The nasdaq up 1 higher. Now 74 weight. Features a sporting show momentum continue. All the major indices in positive territory. Though investors up 73 points. Nasdaq up another 10 points. In europe across the board take a look at the european indices right now. Dax or three quarters of 1 in germany up 132 points. The others in positive territory. Same story in asia as the best performer they are hong kong hang seng up one and two
Prepares to meet with a Bipartisan Group of lawmakers tomorrow to address gun violence. Extreme weather same in the United States wreaking havoc in several states. Storms expected to bring in wind and rain throughout the day. What you did spell about about the dangerous weather coming out. Roger goodell going headtohead with Americas Team expecting to send Dallas Cowboys owner jerry jones with a massive penalty with a reported sevenfigure fee. All the stories coming up this morning to talk about it is dagen mcdowell. The wall street journal Global Economics editor Jon Hilsenrath upholster lee carter is here. Good to see you. Good morning. Spirited morning. Dagen msu. Maria jay powell big story. 830 to his testimony testimony and then q a. 8 30 to get the embargo. This is a big moment for the market. A lot of that seems to have come through the system. Powell says things pleasing to investors we could have another big day in the market. Dagen people have been buying treasuries the last
[ screaming ] and thats basically how the dow can mruj 181 points while the s p sits at 7. 3 and the nasdaq declines. 3 . I would say this market is enamored with growth meaning it would pay beyond reason for any company thats scoring much faster than the average name or company in the s p 500. Often, that gets hidden perhaps because of earnings surprises or takeovers. You may not see it that starkly as there could be momentary sparks of yearoveryear growth for just about anything. Sometimes, though, its so stark as to be painful. The house of pain and today was one of those days and it continued into the after hours. First, lets deal with the two stocks that caused the dow jones to yell timber in todays action. Before we get to the confluence of stocks including apple, microsoft, and yahoo and goprothat reported after the bell and not to mention chipotle. The first utex thats how its known on the street has been considered the bluest of blue chips whether its aerospace, defense, heati