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nasdaq declining. we have entered the heart of earnings season. these moment where is the reports are fast and furious with the headlights blaring and free markets all over the place are among the most challenging times for all investors. what makes dealing with this cacophony of earnings so tough? it s subjective. i view the companies as being similar to the way teachers grade tests. we do have the occasional true or false quiz, sometimes multiple choice and the essay. the subjective essay that needs to be read beginning to end. you want to figure out how well the company did. while you often hear that such and such a company reported a good quarter i reserve judgment based on the kind of test being administered. sometimes the answer is obvious. johnson & johnson delivered a monster quarter with a terrific top and bottom line beat. as stellar sales of all the new drugs stole the show. it was unassailable. therefore, j & j s quarter was a true or false test. i m checkin ....
a slightly lower open. european markets have, well, we ve been hearing from the ecb although not much action, there it is, at least the equity markets at this point lower, though fractionally so you have to say. how is the 10-year note yield doing and crude oil, there s a look. 1.6, 1.6. wow. things are getting crazy there. crazy. wti you can see is right around 45, 50 or so this morning. let s get to our road map. it starts with day four of the republican national convention in cleveland. ted cruz was booed, mike pence delivered his speech, and they are gearing up for trump s speech tonight. we will go there live. elon musk is revealing his master plan for tesla. part two, by the way. how realistic are his big-time ambitions for this company? qualcomm, intel, ebay, southwest, and more, all are on the move this morning after earnings. in fact, i mean it goes on and on biogen, travelers, american express. we will try to get to all of them or as many as we can, give you t ....
it closed at 17,959 points. the s&p advancing 7.7%. did i just say 17,949 points on the dow? holy cow. when i got into this racket, the dow was at 800. and to think i was told we d never get to 1,000 in my lifetime back then. we re just a stone s throw from 18,000. how wrong were people? how wrong are people still? typically, when you get terrific news for the u.s. economy, like we got this morning, when we learned that our country created 321,000 jobs just last month. 321,000 jobs? that is much more than anyone expected. you usually get a momentary burst-up in the wages. we did get the burst higher, but it wasn t followed by the typical wave of buyers remorse. instead, we just got another rotation. this time out of the high yielders and defensive stocks that lag when the fed eventually starts tightening, and into the banks and companies that once again benefit from lower oil prices, because oil just can t catch a bid. it s an amazing testament to this next man up marke ....
particular. are there any questions? thank you, ms. dodd. colleagues, any questions at this point? okay, why don t we go to our budget analyst report, plea, first. mr. chairman, members of the committee, on page 76 of our report, we report that our recommended reductions to the proposed budget total 2 41,251 for 14-15. all those reductions are ongoing savings. [speaker not understood] or 11.2% in the department s 15-16 budget. approximately 32% or 77,000 of those recommendations will result in the city s general fund. in 14-15 we are also recommending closing out one inactive health services encumbrance resulting in a savings of [speaker not understood]. [speaker not understood] or the recommended reductions are ongoing. savings, these reductions would allow an increase of [speaker not understood] in the department s 15-16 budget. approximately 32% or 97,336 of these almosttions will result in savings to the general fund in 15-16. ~ [speaker not understood]. thank ....
domestic violence transitional programs, a quarter of the funds go to support prevention efforts. i want to acknowledge beverly up ton who is in the audience, executive director of the domestic violence consortium who works really closely with these community agency. next slide. in terms of outcomes, what are the service outcomes for these programs? we funded 31 programs last fiscal year. this is 12-13. we re still collecting data from 13-14. there is a $3.3 million allocation, about 20,000 [speaker not understood] individuals were served, providing 40,000 hours of supportive services, our partner agencies did that. about 22,000 bed nights at emergency shelters and transitional housing programs. and we have two crisis lines. one for sexual assault and one for domestic violence. they fielded 18,000 calls. and what is important to note about that is 911 gets about half that many calls. it s real important to do both, community based crisis lines as well as 911. just a few ....