We have a new crash on westbound 92. You can see, if you are driving across the san mateo bridge, as soon as you get off the bridge, you will notice traffic, because of an overturned car, west 92 at 101. It looks like it could be there for a minute. Not a minute, i mean, it is a figure of speech. It could be there for a few minutes. If you use the san mateo bridge, use the don barton bridge, we will have more coming up. Lets go back to the headlines. Thank you, sal, we start breaking news. The Labor Department released the unemployment report for the week. 1. 4 million americans file for new Unemployment Benefits last week. That is higher than wall street and economists projected. Layoffs are high as businesses are ordered to shut down again because of resurgence in coronavirus cases. It is the 18th straight week that the number of unemployment claims have topped 1 million. The number of Weekly Applications had never exceeded 700,000 previously, and whil report from the bureau of labor
More of a westsouthwind, ranting. Lets get to it. Today. A little warmer inland, today. We dont always see fog and low clouds, but we have this week. I dont think there will be look at that low, spot below, i much change, coast and bay. Bases are up around 3000 feet would say it is near fresno. For some, so it is pretty high out there. There is a lot of moisture almost every recording station says cloudy or mostly cloudy. Funneling in upwards into the livermore and also san jose, along the southsouthwest, so sierra, and parts of Mendocino County, shasta as well. So storms, erupting a little no change there. Back to the coast, warmer today for a few. There have been some great santa rosa is cool this week, i thunderstorms to the north, and also to the sierras, right where they should be. Expect them to bump up a little over to sal now. Okay. Bit, sunny, breezy. Water temps have come up, this where do you want to start . Is the warmest they have been all summer, except point well . Marin
Cigna came in with great earnings and a revised higher fullyear forecast. The stock taking a bit of a dive down 2. 5 . 5 coming up, we will hear from the ceo David Cordani after that result. Guy lets talk about what is happening in europe. The oil sector is lower because of shell. The Mining Sector is down. Chinese pmi data was super weak overnight. That is what we are focusing on, particularly the manufacturing side. Weve got this sorry surrounding what is going on with the trade narrative. The lighthizer deal, basically the chinese arent convinced. Volume is reasonably good today. We are seeing a big moving yields, as you can see. Bonds are bid, yields moving lower. We are 41 on the german tenyear. Chinese data is feeding into that story. Treasury yields moving exactly the opposite direction you would have thought if the fed is going to stand pat from here. Keep an eye on the 97 level on the dxy. Eurodollar, 1. 11. We are absolutely flat on the session. Vonnie the fed cuts for a Thir
Talking about oil, weve been watching oil along with wild moves in stock market all week and last several months michigan congresswoman House Community member is here. Talking about china trade dont ms a moment of it. So weve got a rally this morning underway triple digits move after we saw that huge wild week last week. Three down weeks in a row looking to break the longest losing streak since may if weve got china trade, tensions President Trump commented on negotiations yesterday. Heres what the president said. Monetary manipulation and pouring money into the krnghts because they dont want to lose jobs but losing as you know because you reported it but they lost over 2 million jobs in a short period of time and they want to make a deal see what happens but they want to make a deal. If i wanted to mawk a bad deal and settle on china market would go up but not the right thing to do. Im not ready to make a deal yet. China would like to im not ready. President says that apple ceo tim co
Stock rally. Its wednesday, october 25th, 2023, and youre watching Worldwide Exchange right here on cnbc. Good morning and welcome to Worldwide Exchange. Im frankholland. We kick off the hour with a check on u. S. Futures as the market had a positive day and the nasdaq had the best day of the week. The blue chips index at the tow would open up 50 points higher, however, the s p under pressure and the nasdaq more than 50 lower in the market. Also checking meta, almost a percent. We want to check the bond market, the 10year yield hovering but low. Take a look at yields right now. The benchmark at 4. 86. The 2year at 5. 5 . Were also looking at energy this morning coming off its lowest close in more than two weeks. In the green this morning at least fractionally at 83. 79 a barrel. Natural gas under some pressure, down half a percent. Turning our attention to the top story this morning, two very important reports from big tech accounts for about 10 of the entire market cap of the s p 500.