On the desk, mike khouw, carter worth and brian stetland the markets with a much better than expected employment data. The nasdaq leading the way notching its sixth straight winning week it wasnt just the megacaps this week the russell 2000 logged the best day of the year closing above the 200 Day Moving Average for the First Time Since march, but an internal indicator well talk more about in a moment, the vix, hitting its lowest level since july of 2021 carter, you were taking a look at this market through the lens of weightings. Explain. Right so we have with the ongoing strength of the largest cap names versus the average stock, we have a spread now that it was only seeing basically during the financial crisis and at the covid low. So the way to think of it is this, either the high flyers, the market in general is going to sink and the high flyers are going to sink more or the market keeps advancing, in which case the laggards start to play catchup. But the reading would he have now
Federal highway administrators giving testimony on the implementation of the Infrastructure Investment and jobs act and other legislation passed by congress. Also spoke about emergency relief efforts to reopen am pleased to call this hearing. Welcome to the witnesses and to the guests and a special thanks to our colagues for being here for this important hearing. We are here to discuss the federal highw administration and implementation of the bipartisan infrastructure law and Inflation Reduction Act. I am enormously proud and i know senator ouppercaseletter is as well, the work the committee did providing the foundation of the bipartisan infrastructure law. People say to mand im sur to you, senator when you travel back toest virginia, whyant you Work Together to gettuff done and as it turns out in the committee thats what we do, the bipartisan infrastructure 20zip and proud to help lay the foundation for whats turned out to be one of the biggest investmentsver and hopefully we will co
In inflation lets take a look at where we are right now. Communication services down the most, 5 , were going do get into consumer discretionary. Two sectors are hanging on to the green, albeit just barely with utilities what a report. When we got this gdp report, below consensus, well below certainly where we were last quarter. What does it make you think . Theres a difference between being concerned about the top line missing because we could actually see that be revised up over the course of the next couple of weeks. I think the challenge is the data showed that the inflation on a month over month basis for cpi is showing up in this report when you look at the consumer you saw a decline in good spending weve seen slowing in terms of good spend ing in particular autos you saw that decline in the quarter. The growth in Services Spending were from areas weve seen meaningful inflation, so that inflation in areas like insurance, in health care, those are not particularly predictive, of s
will be on 7.80 so major delays for westbound 80 you could cut over to 7.80 take 6.80 instead so consider using the benicia instead of the car keen as one to get through that it s going to open up that slow back down on the richmond side and stays like that to so 36 minutes from crockett to oakland our motorcycle accident here in sunnyvale to 37 west at lawrence this was blocking all lanes of traffic they ve moved the activity off to the side, but it s still awful so to 37 you re crawling fr 8 80 all the way over to one oh one in sunnyvale your backup also spills on to the nimitz which was already slow so it s jam way back out of san leandro in to milpitas on to 2.37 leading up to that motorcycle crash quick peek at the bay bridge at least it s quiet here, but you are still backed up through the oakland maze john while robin all quiet as far as weather goes traffic the us will not operating at the moment. but your forecast certainly will be in fact it s only getting better i
A better system comes thursday and friday and Even Stronger on sunday. Colder as well with the fog the big story through 10 00. By this evening we will start to increase the opportunity for rain. There was a little bit trying to show up offshore but this is all. Just very brief if anything. 40s on the temperatures or 50s with most locations running in the lower 40s to the mid40s. American canyon 47, napa is 42, 48 petaluma, 49 san rafael and tiburon 46. The easterly breeze at the napa airport gusting up to 60 Miles Per Hour coming back from the delta really bringing in that fog creeping back. Not much rain with the first system just very light with a little bit to the south. Suffice to say it looks like a pattern change is coming. We are starting with fog and cloud coverage today. Sal do we have good news on the roads . I guess we do, it is a light commute a lot of people have today off. It is a federal holiday and you will not see traffic at the bay bridge but i want to know you shoul