Another two days at least, to avoid the European Central bank told greece it will not provide more emergency funding, but instead will keep it at current levels. And today, it also became more difficult for the banks to tap loan money they need because the ecb effectively made their collater worth less. All this a day after greeks voted no in overwhelming fashion in yesterd in it they had to decide whether to accept or not accept those difficulte reforms in exchange for a new round of Michelle Carusocabrera is in athens with more on what the outcome means for greeces. Reporte celebrations late into the night in athens after greeks learned no had won by a 61 voting no to a bailout program. On i think every one of us was afraid. But we said no. Im happy. But i dont know what is co reporte the result puts greece farther along the path for leaving the euro. Just a few weeks ago, most wall stre firms and rating agencies put the chance of greece leaving the euro at below 50 . Today, as a res
Another two days at least, to avoid the European Central bank told greece it will not provide more emergency funding, but instead will keep it at current levels. And today, it also became more difficult for the banks to tap loan money they need because the ecb effectively made their collater worth less. All this a day after greeks voted no in overwhelming fashion in yesterd in it they had to decide whether to accept or not accept those difficult reforms in exchange for a new round of Michelle Carusocabrera is in athens with more on what the outcome means for greeces. Reporte celebrations late into the night in athens after greeks learned no had won by a 61 voting no to a bailout program. On i think every one of us was afraid. But we said no. Im happy. But i dont know what is co reporte the result puts greece farther along the path for leaving the euro. Just a few weeks ago, most wall stre firms and rating agencies put the chance of greece leaving the euro at below 50 . Today, as a resu
Economists were expecting 2. 5 . Recent gdp was also lowered. You can see red across the board with the s p followin falling. The nasdaq down. 8 . Not only the gdp reports weighing on stocks, but you have social media dragging the market with twitter yesterday and facebook today. Olivia nobody likes how much money Mark Zuckerberg is spending. Matt his employees like it. Olivia probably. Heres whats happening on the treasury market. The short end off the yield on the 2year note up i two basis points. Note, little bit of money flowing into that, so yields coming down. Stronger off the back of 2. 3 growth in the Second Quarter. The dollar Index Trading around a fourmonth high. Top stories crossing the bloomberg terminal at this hour the u. S. Economy picking up pace in the Second Quarter, gdp , slightly less than what economists were looking for. The Commerce Department revised the firstquarter figure upward. Grew by out the economy. 6 in the first three months of the year, but it cannot
Toward the close, just a few hours away from the closing bell. We are mixed right now. Digesting whatl the fed said yesterday, but also the gdp numbers that came out this morning, the second order gdp numbers. A bit of a disappointment there among economists in terms of the topline gdp growth. But we did see consumption of 2. 9 , and that seemed to be a bright spot. Also in the treasury markets, yes, you see the 10 year yield continues to come down. But the twoyear note is rising. The gap continues to narrow and that is because we are expecting september rate hikes. In terms of the currency markets, weve been watching the dollar hover at the fourmonth high. The euro is trading higher again lower again given the dollar strength. Bek a lot of that seems to because the consensus is there will be a fed rate hike in september. For the next two months, that data will be very significant. Betty mark indeed. Lets betty indeed. Mark lets take a look at some of the other top stories. An object f
Anticipated today as High Pressure briefly builds in over the state. Rain and moderately south winds return to the north bay area late tonight as a frontal system approaches. Rain and winds will spread southward friday as the front moves across the region. A break in the rain is expected saturday with rain anticipated to return to the district as early as sunday afternoon and persist into monday as a low pressure system moves through the region. No major hot spots. Bay less then 30 maze to sf. San less then 30 to 101. Golden drive time less than 30 min toll plaza. Bridge drive min from the toll to 101 james our top story this morning. Racist instagram posts targeting African American and other minority students at an east bay school. Its happening at albany high school. And now we are hearing from the angry mother of one of the students referenced in the posts. Kron4s alecia reid has her reaction. The principal learned about this on monday and started an investigation right away. Polic