Whipping winter winds. Today in the bay starts right now. Good thursday morning to you, thank you for joining us. Im laura garcia. Im marcus washington. Well get to mike with a look at the roads but start with the forecast. Another cold start to the day. Another cold start. Take a look at these numbers that were seeing right now in parts of the north bay and inland east bay as well as the south county where we have a lot of 30s as you get ready to head out the door. Youre probably already feeling that right now even just trying to get out of bed. As you make your way to work, were seeing the east bay temperatures in the 30s or low 40s and hold steady for a few hours and then start to warm up with a lot of sunshine as we go into today as we eventually make it into the mid and upper 60s, another nice afternoon. Its been so dry, well talk about that and how much rain we need catch up to normal. Thats coming up in a few minutes. Vianey, how is it looking as early commuters head out the doo
Thats the worst performance in two weeks. The dow has been down. Nasdaq have been down five out of six the tech selloff was worst it continued down 3 led lower by stocks like apple the same old story big volatility coming. Those are really the tail thats been wagging the dog for a while. Youll see the nasdaq is lower once again the other two averages hanging in there the s p on the flat line nasdaq down another 50 points. Fur watching what is happening over the last two months they closed. Dow at the lowest level since the third. The 10year sitting at 0. 66 the story that seems to never end, tiktok. Here we go the owner bytedance applying for an export license in china as it pushes for a deal in oracle and walmart. They did not mention the pending deal and technology it was seeking to support calling the deal dirty and unfair they have no reason to approve it all of this raising questions about that prospect and what that would ultimately look like. What happened earlier in the week we
Since march 20th microsoft is in midst of its second negative week in a row. Amazon is positive for the moment if it closed lower it will be the fourth straight negative session. Facebook, will have its fourth straight negative session as well also pacing for the worst week since midjune are we at a tipping point, pete, for some of these big tech names . I dont know that i call it a tipping point. I think id sort of more tab this something of little bit of a rotation i dont know how long that will last well see. Its just in the early stages of this well see how much pressure really does get put on i think the names are very favorable. I think theres a lot of reasons to like the names. It makes some sense that we would see pause there. We have seen a bit of a pick up. You look at financials and especially the regional financial names and see a bit of something thats showing some signs of a little bit of life. Well see if that can last as well i can tell you this, right after the earning
Who outperforms when it comes to the smallcap. Taylor we tech about the theme of the week, theme of the month. Back into gold and further out of dollar weakness. I heard you ask that really smart question about the dollar a few institutional banks trying to question that idea. That, thatr told you the dollar is for now still the reserve currency, at least in his lifetime. Big picture when we talk about flows, that will be one to watch. Romaine lets bring in linda. We are inthis market right now, at least off some of the record highs of the industry . Is this a market you want to buy and hold or do you become more of a trader in this environment . Linda i dont believe that any of us are particularly any good at being traders. It is an unprecedented time we are living in right now. We still have very high unemployment. We would like to have more belief that the virus is under control. I think powell made that comment to us as well, that the virus is going to decide much of this. Bulls on
Things, our country looks a lot more like the juggernaut it used to be, and so does the stock market thats the only way to interpret the incredible pin action that we got today from adps incredible their National Employment report, and it showed that private Sector Employment decreased by just 2. 76 million jobs last month, when most economists were expecting something more like 9 million. Hallelujah. That and some early positive data about the opening of restaurants and casinos are how the dow surged 527 points today. S p jumped 1. 63 were gaining back all our losses here, people. You see this kind of animal spirits of the market coalescing with the pent up demand for ravenous consumers and you get the insane gains like we saw by the way, taking us to the most overbought level, 11. 1, in the s p since july 24, 2009. Any time its been this high, its actually okay well have to do more on that later this week. Look, i know there was a time really not that long ago when 2. 76 million job