Vix at 16. Jpmorgans point this morning was typically, you have the s p down two plus maybe a dozen times since covid. Couple of those were in the depths of covid but generally, its when the vix was about 20 unless we get a shock, maybe the selling is going to end soon if youre looking for why today, theres a slew of reasons. Started overnight in china with weaker Economic Data across the board even though we got a rate cut there, which should be supportive top data in the u. K. And in the u. S. , the data was mixed retail sales, a lot stronger but markets quit trying to figure out whether good news is good or bad news is bad because it keeps the feds hiking rates higher for longer that 1 control group number that feeds into gdp, thats something people were talking about for a monthly gain that was double the expectation and signals the consumer is still in good shape even though we got new York Manufacturing going back into negative territory and showing a lot of pain there you see go
As we look at our radar, you will notice the focus of the rain is across parts of the north bay, from novato to black point light to moderate rain falling right now. Street level radar, el sobrante, hercules, crockett getting some steady light showers and around the peninsula from east palo alto, heading across highway 101 on our exclusive abc seven news storm impact scale. This is a level one storm as we go, hour by hour, you will notice tonight we have the rain showers, most widespread during the overnight hours and into tomorrow morning. 5 to 8 a. M. Be prepared for some slow, slow and slippery roadways. Uh gusts right now 21 miles an hour. Mount diablo not that windy. It is going to get breezier. Tomorrow afternoon you will notice 20 to 22 miles an hour heading into the evening. It is a one on our storm impact scale with widespread rain overnight, scattered showers in the morning and breezy at times. Ill let you know about a major change in our pattern coming our way after tomorrow
Momentum, court . We heard about a lot organized retail theft i was there as Law Enforcement broke up rings after rings steal from stores and resale online. We have some amazing video to show you but first a quick check on the markets here at about 2 00 as tyler said, the markets more or less shrugging off that cpi report that came in in line but still hot, i would say nasdaq composite leading the way again up by 1 s p 500 higher by . 9 shares of nvidia bouncing back strongly today yesterday we told you the stock had fallen 10 from the peak it had hit on friday morning. At 974 a share. So right now just a touch over 900. Meta also rebounding today, getting back much of the ground it lost yesterday when former President Donald Trump called it an enemy of the people lets bring in a friend of everyone, Michael Santoli now for more on todays Market Reaction to the cpi. No enemies. Hey tyler. Hey, mike. The core cpi was warmer than expected and the market had a little wobble on that. In gen
Moving lower. And republican president ial Candidates Campaign in iowa evover the weekend, but trump faces an indictment over his attempts to overturn the 2020 election loss in georgia good morning welcome to street signs. We have big down trades from asia today Chinese Markets in focus we are watching the hang seng down 1. 5 . Knikkei is down 1. 3 . Investors are focused on all of the commentary from the chinese Home Builders and the issues with the bank loan data for the month of july. Lets get to jason ong who is joining us with more color of what is happening with the overnight markets, jp. Reporter good morning. It wasnt the start of the trading in asia. We didnt have much to go on it was a lackluster handoff from wall street and catalyst and data release to chew on. It is a concern of the chinese Property Market which is keeping people risk off in the part of the world. No one is falling off a cliff. There are losses from the hang seng which will close in a couple of minutes. You
53 according to the latest Statement Released in the last hour from the maui county government. Joe biden has already issued a major disaster declaration and the governor has said it is the deadliest Natural Disaster for generations. Thousands have been forced to leave their homes and hospitals have been treating patients for burns and smoke inhalation. Nomia iqbal has this report. Much of the Hawaiian Island of maui is now scorched earth. A pilot can hardly believe what hes seeing. Oh, my gosh look at the harbour this looks like baghdad or something. The Historic Town of lahaina barely exists anymore. Since the fire began on tuesday, it has ripped through, fuelled by Hurricane Force winds, leaving burnt out cars on once busy streets and instead of historic buildings, there are Smoking Piles of rubble. Everybody still out here, its time to go for anyone still in the town, the message is clear get out. If anybody s still here, the fire is on front street and it is time to go this Satell