Good morning. Welcome to Worldwide Exchange on cnbc. Its new music friday. Im sara eisen. Im dominic chu sitting in for wilfred frost. Hell be back on monday. A holiday shortened week of trading here in the u. S. , but no shortage of big news and buzz. Well talk about apple challenging federal authorities and hear why Company Cofounder Steve Wozniak believes steve jobs would have done the same thing. Thats just one minute here. That cnbc interview getting a ton of buzz. First, lets get you up to speed on the Market Action this early friday morning. Holiday shortened trading week, but were looking at the best week for stocks since back in november. The best week of the year by far. The gains could continue after a selloff late yesterday. The Dow Jones Futures up 38. S p futures up five. Nasdaq futures up 12. Lets show you whats happening with oil prices, which have been a driver. Maybe not to the extend that tight correlation we saw earlier in the year. It was trying to break down. Then
Warnings are posted until 8 00 tonight. Flooding is expected in Sonoma County, penngrove and petaluma. The petaluma river, even the napa river at saint helena, will briefly touch flood stage tomorrow. It shouldnt be high above flood stage. In the meantime, look at how much of this rain, more than 4 up at guerneville and thats one of the reasons that they have Flood Warnings posted on that river beginning to hit flood stage tomorrow night peaking saturday and easing off by saturday night. Between now and then a lot could happen. Especially in that part of bay area, stay tuned. As for what happens next, well have the complete forecast in just a few minutes. Breaking news related to the storm. We are getting word, ace commuter trains are proceeding very slowly and cautiously heading out of fremont to niles canyon. Inspectors checking the tracks because of the threat of flooding. Can you blame then . They have to be extra cautious. It was monday evening that a mud slide came crashing down
Well have them first with the best analysis you can find. That all starts after the bell. Then after that in exactly two hours, president obamas exclusive interview with our Steve Leisman will air in its entirety right here on cnbc. Steve will join us on the show beforehand to tell us some of the highlights. We do know the president wants to talk about tax inversions, letting it be known he will support legislation to stop companies reincorporated overseas to escape the 25 tax rate here in the u. S. Well have much more as the president and Steve Leisman get into it over the economy. Melissa lee and i will anchor a 5 00 special on that coming up. It is a bill sandwich tonight. Lucky you. Also it would be big ceo interviews just ahead. Dunkin brands disappointed today. Jetblues dave barger will be here. Youll hear from both of these ceos on todays closing bell. An hour to go and the do you jones industrial average down again today to the tune of about 21 points. Yesterday it was the lone
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