S p down 55. Some investors may be panicking on this friday morning. Other investors not panicking at all. With that welcome to the 9. Alongside sal castaneda, i am mike mibach. In for Gasia Mikaelian is Rosemary Orozco. Yeah. Good to have you, rosemary. Welcome. Happy friday. Happy friday. Tgif to all of you out there. I have to tell you, you guys, it was stunning that brexit passed because the pollsters said to wasnt going to. Then last night twitter was blowing up. This is what happened. So were going to talk a lot about that. We will. I also wanted to mention before we get into it, a wig wildfire in Central California northeast of the bakersfield. 100 structures have been burned. Its been hot down there. Humidity in the singledigits. They cannot catch a break because hot, drier weather moving back in in time for the weekend. We are going to see warmer weather as well. Yes, definitely southern california. We will get some pictures in a bit. First, the results are in, and it was a shock. British voters chose to leave the European Union. Polls had predicted the opposite result, as sal mentioned. Voter turnout was huge. 72 of registered voters casting ballots. The referendum to leave the e. U. Won 52 to 48 percent. British Prime MinisterDavid Cameron pushed for his country to remain in the e. U. He says the will of the british people must be respected and he announced plans to resign by october. I will do everything i can as Prime Minister to steady the ship over the coming weeks and months, but i do not think it would be right for me to try to be the captain that steers our country to its next destination. People who wanted britain to remain in the European Union argue the country is strengthened by its association with the other 27 countries. They call the referendum to leave the e. U. A step backwards. The vote to leave the European Union was motivated in large part by concerns over immigration. As a member of the e. U. , any citizen from any other e. U. Country could choose to live and work in britain. The leave campaign accused the immigrants of taxing britains housing market, Public Services and employment rolls. Many in the u. K. Also believe European Union lawmakers had too much control over laws. As we said at the top, turnout was big. 72 of more than 46 million registered voters came out. Emotions very strong on both sides. This morning people who supported the leave campaign are celebrating what they are calling a big victory. Others, especially europeans from other countries who are currently living in the u. K. , are wondering what their future will be. Absolutely wonderful. The best news ever. We want england to come back, Great Britain to come back as it was years ago, and its going the same way we want it to go. The u. K. Will not leave the e. U. Immediately. A Withdrawal Agreement will need to be negotiated and that is expected to take two years or more. During that time britain would continue to abide by e. U. Treaties and laws, but not take part in any decisionmaking. Joining us via skype is economist and Investment Advisor ken winans. Good morning. Good morning. An interesting friday. I tell you that. It was an interesting thursday night. I couldnt keep my eye off the dow futures there sitting on the couch at home. It meant for a late night for me. What do you think, looking at the dow, 465 points down, what is your assessment at this moment . It depends what you are invested in. If you are in financial stocks, youre having an incredibly bad day. If you own utilities and bonds and preferred shares that pay high dividends, its not that big of a deal. Whats fun though to think about as an american is right now the dow is down 2, 2. 5 . Thats exactly how much the dollar went up against the pound. As an american you have lost nothing today. I wanted to ask you about, you know, today and tomorrow and maybe for a little while, the market will go down. But will it rebound here in america as people realize just what you have said . The dollar is strong and our economy is fundamentally improving, isnt it . Well, its funny. You get had half empty, half full scenario that begins to happen. People were blown off some of the weak Economic Data coming out over the last month, but, you know, its not everythings weak. There were some reports such as yesterday new housing sales werent quite as strong as everybody was hoping they would be. The problem that we have is we are going into earnings season over the next three weeks, and i have a feeling that any companies that administer numbers are probably going to start blaming something happening with the e. U. And with the u. K. So it could be bumpy through the rest of the summer. But with that being said, the companies that are doing well, the companies that have already made plans for this, i think you will find that they will probably come through the situation without having a big problem. And the stocks will probably be okay. From somebody who barely understands how this all works, do i need to contact my Financial Advisor . Do i just ride the tide . What should i be doing . Anything . I dont believe in just riding the tide. I never have. I think for those of us who went through 2008 and the dot com bubble, riding the tide was a painful experience. When you get those quarterly reports that were all gonna get soon on our 401 k s, dont just not look at them. Look at them. What you want to look for is what is your exposure to foreign markets . And i dont believe there is one formula for everybody. You should say, you know, thats too much for me personally. I really dont like that much volatility. This would be a good time to have a talk with your Investment Advisor and decide how much exposure do you want with these kinds of events. You brought up 2008. When you compare the two, do you think that this news event across the world is more political . We will see more of a political fallout than you would a financial fallout as we did in 2008 . Well, i agree with that. I mean, 2008 was a highly levered mess, as we all remember it. It started here and went abroad. This will have a different flavor to it. What i mean by that is there is going to be a renegotiation of the relationship that the u. K. Has with the world. It could net benefit the United States. Now, the u. K. Will be free to set new treaties and terms with the United States on banking and on certainly on any kind of trade. So in the long term it might net benefit us. But if you think about u. S. Banks and the fact that they have a lot at stake in the current structure, we could find that a lot of employers could have some affects from this. Investment advisor ken winans. Thank you for your input. I know, guys, that a lot of people are going to be on the phone just as he said to their Financial Advisors today just asking the question, what should i do . Should i change anything . Its a good idea. You are on the air doing traffic. People in the newsroom were on their 401 k s seeing how much money do i have in foreign investments. What do you think . Are you going to rearrange your 401 k or take a peek at it or book a trip to london with the drop in the pound . Let us know on twitter. Tvuthe9. Well, just a couple of hours ago the president released a statement on the u. K. Referendum. The people of the United Kingdom have spoken and we respect their decision. The special relationship between the United States and the United Kingdom is enduring and the United Kingdoms member in nato remains a vital cornerstone of u. S. Foreign security and economic policy. The United Kingdom and the European Union will remain indispensable partners of the United States as they begin negotiating their ongoing relationship to ensure continued stability, security, and prosperity for europe, Great Britain, and Northern Ireland and the world. All right. The president s response to the u. K. Vote comes as he is scheduled in less than two hours from now to address a crowd at stanford university. He is headed there to speak at a global summit. The Event Features several Silicon Valley companies as well as executives. Ktvus janine de la vega live inside stanford meeting hall with a preview of the president s speech. Janine. Reporter mike, this is all about entrepreneurship here inside memorial auditorium, and there are hundreds and hundreds of entrepreneurs here and investors from all around the world. Actually, i just spoke with hundred and he and many others in this room are very curious to see if president obama is going to talk about the Global Impact of the brexit decision. Here is video of president obama arriving yesterday evening at moffett field. We know he has already released that statement that you just heard about britain leaving the European Union. But whether he will bring it up at todays conference is unknown. But its certainly a timely topic, especially because there are 700 entrepreneurs and 300 investors from the u. S. And many countries here to network and participate in workshops for ges, the Global Entrepreneurship summit. The president started the summit seven years ago to demonstrate the u. S. Commitments to fostering entrepreneurship around the world that help build strong prosperous communities. President obama is going to be taking part in a discussion with business leaders, including facebooks ceo mark zuckerberg. He is also supposed to participate in a Facebook Live chat and a google portal virtual conversation with entrepreneurs. The president is staying in francisco at the better continental hotel. He is supposed to arrive at stanford add take the stage at 10 45. 10 45. Janine de la vega live there at stanford. Thank you very much. Developing news out of Central California now. A fastmoving wildfire has destroyed more than 100 structures. Most of them homes northeast of bakersfield. The Kern County Fire Department posted this video of the destruction. This wildfire really exploded overnight. It has now burned at least 8,000 acres while about 100 structures, including homes, did go up in flames. Another 1,500 structures still remain threatened. Three firefighters did suffer smoke inhalation. Temperatures are expected to top 100 degrees this weekend with temps nearing 110 degrees by the middle of next week. We are off to one of the most destructive wildfire seasons in years. According to the National Interagency fire center, through the first part of this calendar year nearly two million acres have burned in more than 23,000 fires. Comparing that to acreage burned during the same time of the year over the last four years, you can see it is dramatically higher. And with that several fires burning now in southern california. We also have this to worry about. Those dry gusty winds are coming back. You can see that area shaded in red. That is a red flag warning in place for the weekend. We are looking at winds gusting to 50 Miles Per Hour coming in from the north, and we are looking that to help drive those temperatures 100 degrees, perhaps even 110 if those winds are really strong. So firefighters just are not going to get a break. Next on mornings on 2 the 9, thousands of people making their way to San Francisco for pride celebrations. Up next the extra security and street closures you can expect. And its not exactly an endorsement, but Bernie Sanders is making a big announcement about hillary clinton. The decision he says has everything to do with beating donald trump. Snoop welcome back and happy friday. A lastminute preparations underway in San Francisco ahead of the weekends pride celebration. One noticeable difference will be more security since the mass shooting in orlando almost two weeks ago. Ktvus brian flores with more on how people are feeling about this years pride. Reporter well, considering the shooting in orlando, almost two weeks ago, many people we spoke with say it strengthens their resolve to show up to the pride festivities this weekend. I want to show you the preparations. We are on market between 7th and 8th. You see the barricades along the parade route. Also the rainbow flags on Market Street and through through San Francisco. This will be the safest pride ever, Officials Say. This is the 46th annual pride celebration in San Francisco. Businesses, bars and restaurants especially in the castro are gearing up for the busiest time of year for them. In fact we, stopped by Cliffs Variety store in the castro earlier. The owner tells us every year they order lots of rainbow flags, but by the end of saturday they are mostly sold out. Pier 54 is also very busy with lastminute touches to the 30 floats that will line the route on sunday morning. Everybodys working. Its kind of its hectic, but were getting it done. Reporter while pride is exciting and a great time for many, some are concerned considering the shooting in orlando again two weeks ago. One thing Officials Say you will notice is increased security. You are gonna have to go through metal wands or through metal detectors. So dont bring any bags. No weapons. No sharp knives. Give yourself a little more time to come through. Essentially, act like you are going to the airport to get on a plane. Reporter there will be road closures Near Civic Center plaza and Market Street at 9 00 this morning. Streets will reopen monday morning before the commute. Now, i want to show you quickly some of the bigger pride events. The trans march tonight at six at dolores park. The celebration at Civic Center Plaza kicks off tomorrow and will run through sunday. The annual dyke march from dolores park to the Castro District at 6 00. As we take it back out here, the installation of the Pink Triangle set up on twin peaks starts tomorrow morning from 7 to 10 00 a. M. A commemoration ceremony at 10 30 at the Civic Center Plaza as well. Lots of events for San Francisco pride this weekend. Guys, back to you. All right. Turning to the president ial race. Bernie sanders has made an announcement about who he is going to vote for in member. He will vote for hillary clinton. Sanders said, quote, i am gonna do everything i can to defeat donald trump. The vermont senator has not yet suspended his own campaign and has pledged to campaign through the Democratic National convention, but this mornings announcement is the clearest sign yet he will support clinton. Coming up on mornings on 2 the 9, competitive eater and bay area native Joey Chestnut is hoping to make history at this years hot dog eating contest. Up next we talk to him live about how he prepares for such an event. An event. The fourth of july is right around the corner, and when it comes to nathans famous internal hot dog eating championship in coney island, its close. San joses own joey jaws chestnut is going for a record ninth championship. And he joins us live now from a qualifying event in washington, d. C. Joey, good morning. Good morning. You got to be pretty fired up this year after kind of last years shocker. Have you been dwelling on last year over the past 12 months here . You know, i thought about it a lot. I wept back to the drawing board. I have put in some work. What does that mean . How many hot dogs can you eat . My record is 69. Last year i got beaten like two hot dogs. I was eating like a child. This year i am a little more fit. I have been eating, practicing, and i found my big boss appetite that eight 69 hot dogs. Now i feel like i will be able to break that 70 mark finally. Its gonna be a great day. What is it about competitive eaters . You look like you would have trouble eating three hot dogs let alone 30 or 60s. Why are the competitors eaters fit guys who look thin . You would think it would be the other way around. I am not really fit. I am not really thin. I love to eat. And, yeah, the hardest part for me to maintaining a fighting weight. The healthier i am, the harder i can push myself in a contest. And then thats obvious. You watch the bigger guys compete, they are winded. Once youre winded, you slow down. I feel like this year im at my healthiest. I guess the first question that comes to mind when i see you is do you ever get a tummy ache . Indigestion . How does it feel . Every once in a while i get a little bit of heartburn. If my body is expecting to eat a massive amount and i if i am going to practice and decide not to go practice, then my stomach starts producing a ridiculous amount of acid. Most of the time, my body digests it without too much trouble. I prep before every contest. I do a fast and make sure that the food knows my body knows how to digest it, a silly amount of h