For much of the afternoon as fire crews battled a fire. Bridge traffic was rerouted on to 780. The bridge has now reopened. The cause of either fire has not been determined. Fire reduce crews in the south bay continue to battle one wildfire while cleaning up after another. The most active is the cruz fire, burning east of gilroy. Currently its only 0 contained. Effort started yesterday, not far from another fire, the park fire, which forced dozens of evacuations in morgan hill. That fire is now 80 contained. Maureen nailer has more on the progress being made. Reporter the firefighting on the cruz fire continued for a second day near gilroy. It is close to ranches north of highway 152, and east of highway 101. A an orange glow lit up the area november night as crews benefited from higher calmer winds. Two structures have already gurned with 30 for threatening according to fire officials. And for the second day in a row, waterdropping planes and helicopters helped crews on the ground. In
Measures of the Federal Reserve is leading the way, after spending trillions buying Mortgage Backed securities, corn rat securities, Treasury Bonds all that sort of thing this is another arrow in its quiver that is not really been explored or to my ive been following these bites here, even explain what a main Street Lending facility will be, but the very talk of it did bring us off our lows. Again, just throwing that out there as one of the reasons why we dipped from down about 280 points to now down about 180 points. Lets get the read in the meantime about the worries for the Market Going Forward here, and that will be in another couple of hours or so, the president outlining his plans to respond to china, presumably on this crackdown going on in hong kong and throwing in their concerns the president has about how the chinese handled the coronavirus, something is up which has a lot of stocks that depend on trade with china down. Blake burman with the latest. Hey, blake. Reporter hi th
[inaudible conversations] the hearing will come to order. Today we will receive testimony from david marcus head of libra at facebook. On may 9 senator brown and i sent a letter shortly after it was reported that company was recruiting Financial Institutions and online merchants to launch a cryptocurrency based Payment System using a social network. We asked space bar for more information how the system would work, access and use of Consumer Financial information and facebooks access to use of information on individuals or group of individuals for credit or insurance or housing i appreciate facebooks response last week. Shortly after the letter was sent facebook formally announced its intention to launch the Payment System libra and issued a white paper providing information on the project. Since then us and Global Regulators have taken notice including the Federal Reserve, reserve, Uk Financial Conduct Authority and a stability board, g7 and others for the last week during the Federal
Facebook said to offer hundreds of millions of dollars to allow users to pay for play. Betty welcome to daybreak asia , i am betty liu at bloombergs Global Headquarters in new york. Yvonne i am yvonne man out of seoul this wednesday morning. Appear in south korea, we are watching what is happening about 30 something miles away from seoul. Our neighbors to the north, so to speak. For the markets, it has been a perfect storm. For not only what is happening in pyongyang, but the hurricane heading to the u. S. Amid debt concerns. Betty we are putting out fires left and right. That was reflected in the markets today. Lets pull up the board. We opened up after the long Labor Day Weekend and went straight down. You can see the dow closing off 234 points. The nasdaq taking it on the chin, as well as the s p. Selling across the board. Asia, whiching into had been reacting the past several sessions this week to the north korean headlines. Lets bring up new zealand, which is just opening up, down
Im wilfred frost. And seema mody in for sara. Good morning, will. Good morning to you. Lets go straight to Market Action this morning. Off the back of a strong finish to a tough week last friday. We saw decent gains on friday that meant the weeks performance was respectable. Declines but the nasdaq down more than. 5 . S p and dow just down by. 75 . For the week as a whole, seven out of 11 were negative led down by financials which turned in the only performance of all of the sectors of more than 12 decline. A this morning, as you can see, were bouncing back from that decline last week. The dow pulled high just shy of 30 points. Lets look at oil prices because they turned in a resounding poll week. Up about 5 for the week as a whole. Back around 50. And adding gains as you can see, have the 50. 8, the fwries ofpri crude. Exports in japan rising 7. 5 in april from a year ago. Below the 7. 8 annual growth. Exports abroad are being driven by the weakest in the yen that weve seen earlier th