I think its going to be significant, 46,000 or 48,000 but you have the supply chain for gm, all of the construction around gm, so youve got a lot of ancillary folks that have been out of work and manufacturing isnt necessarily what drives the economy, its the consumer primarily and we are a service economy, and even though the numbers might be good, its the manufacturing thats really going tamp down here. Neil john, one one of the thins that im hearing to daniels point, not just 48 to 50,000gm striking workers impacting this but up to 200,000 more in ancillary business suppliers and the rest. What do you think of that . I think the estimate that roughly 75,000 to 80,000 jobs being temporarily lost because of gm strike. Neil okay, so if thats the case and they factored that in, is this just a oneoff, what do you think . A lot of reasons it can be a oneoff, results of slowdown at boeing, census workers who were temporarily hired and maybe are coming off the rolls, a lot of noise in the n
Lets check where we stand on this wild markets day stocks taking a dive in just the past few minutes, now down 130 points all the major indexes reversing at the tenyear yield hits its lows of the day. And that is a sign of worrisome growth ahead lets go to bob pisani hi, bob. Hello, tyler. Again, markets roughly tracking bond yields. Take a look at a chart weve shown a lot recently the intraday of the tenyear versus the stock market here we saw a program come through as yields dip below 1. 5 here weve been trading practically in lock step with those yields today. See the market here with the tenyear yield on the top there in the s p on the bottom this is an intraday. And pretty much moving in lock step i want to note two weak sectors today. Retailers are continuing to get slammed today. Macys gap, l brand, all down another 4 these all of them are down about 20 this month i want to highlight transports common theme here. Logistics and trucking like jb hunt and rooyder ryder, all wear to
As we head into the sierra a mix of rain and snow expected through the first part of the day. You can see not a lot falling at this moment and no advisories when it comes to Winter Travel at least not for today. We are expecting one on Christmas Eve so stay tuned. This is going to be a destination. The fog in and around the area creating issues. Reporting three, livermore repeating three, you will find some of that is you go to the Central Valley area like sacramento definitely will have the fog there this morning to upper 50s, upper 40s and to start your day and upper 50s to low 60s with partly scottys cloudy skies. Time is 7 01 am. Right now we are looking at all the cameras coming into the building and i can see it is rainy out there. In fact every single camera i see shows wet weather like 280, North Country san jose. Getting into that west valley. Driving around the Silicon Valley this morning should be okay for you. If you are driving to Mountain View or palo alto on 101 but it w
After arush wit we hear from one man who lo his he pushed r man to the side and took the brunt of the home and is demanding rest tation, saying an apoll jiogylle impact. All that matters. I want to start out tonight by wishing a happy hanukkah to my jewish viewers. Tonight is the second night of hanukkah which means only six more nights to o how to correctly spell hanukkah. Cbs this morning. We asked kids who dont celebrate hanukkah to tell us what they know about this holiday. What is hanukkah . Its where jewish people celebrate hanukkah on christmas. Have you heard of jewish people . No. Where do you live . Salt lake city. Do you know any hanukkah songs . Yes. Can you sing one for us . Hanukkah. Hanukkah come light the menorah thats all i know. And welcome to cbs this morning. As the nation continues to mourn and reflect upon the loss of the 41st president of the United States. Norah odonnell is reporting from washington, where people are paying tribute to president george h. W. Bush
The coast guard is looking into what went wrong. We spoke with the investigating officer. Did he have any details . Reporter height there. Sorry, we are having some audio issues. I want to show you behind me. That is where the area has been parked. This was shortly after the crash. They moved it to the other side of the terminal so they could get it out of the way and continue the very services. That is where they plan to keep it. It was a very shocking arrival or the passengers. People watched as the fairy rammed right into the pedestrian promenade. It was about 2 30 pm. The fairy was carrying 53 passengers. It was a holiday week it was coming into fast. It struck the side of the peer. He said it went through the northern interest entrance. Some of them brace themselves for the second crash. The ship kept moving. The fairy came around in it did not slow down. It hit the corner of the channel and whole chunk out. The fairy slammed into a guard rail. A spokeswoman ferry said no one peop