Now at 6 00 here we go again. The new stay at home order about to come down. Five bay area counties are moving ahead of the threshold and the strict new rules to prepare for. Its a really shock. I feel a little bit like we had the rug pulled out from under us a little bit. The new masks warnings from the cdc. Why you need to wear them indoors. Extreme fire danger with gusty winds on the way for parts of the bay area prompting pg e to shut off power to thousands of customers as early as monday. Good morning, and it is saturday december 5th, i am emily turner. Lets start with a check of the weather with darren peck. The winds get here sunday night into monday and it is mainly in the mountains, and we may not even feel that a lot where we live. Its the usual drill when we get into fire weather concerns. More on that later. Pretty view from the came are on top of the Sales Force Tower looking towards the east. Lets get into the south bay and i will show outview in san jose. And we will put
10 year. Crude now below 30. And not emphasize enough how much pain that will be causing to producers. To get a sense of where we are in the market, if you switch of the board, you can see some of the heavy hitters within the market, like apple and microsoft, down 10 , 11 . Also seeing bank of america off by 16 . The index which tracks the s p is down by almost 10 . Again, a world of hurt within the next two and half hours. We have some breaking news. The boe is pledging further prompt action when needed. No specifics on that, but they are pledging action as needed. We will bring you anything, any information as they come out. They said the dollar move to combat is there. This is governor bailey. Time now for global exchange, where we bring you todays market moving news from all around the world. From new york to washington, brussels and beijing come our bloomberg voices are on the ground with all of this mornings top stories. The Federal Reserve swept into action yesterday, cutting it
Out from under it. It is time now for global exchange. We are going to bring you todays market moving news from all around the world. Our bloomberg voices are on the ground with this mornings top stories. We are going to focus heavily on the markets. We begin in the u. S. , where the 10 year yield fell more than 1 this year. Here was more is annmarie hordern. Annmarie we are seeing a massive flight to safety. I can show you some of these numbers. Gold trading just under 1700 an ounce. This is the asset to own and this kind of market. Then you have the swiss franc. Deutsche bank said in the recent note we could see parity. We havent seen that since the s p lifted the cap the snb lifted the cap. B 30 year yield went through 1. 5 . Right now, 1. 39 . Three standard deviations. Thats how much we moved to the downside. We have not seen this since 2011. People on wall street say this might be a recession. Alix thank you very much. All of that leading to massive volatility within the equity m
Basically, what weve got today is a reversal of what weve had over the last few sessions. He bond proxies are back health care is doing well today. We are seeing a selloff in the banks and a selloff in the auto sector, down by 1. 4 . Maybe the president didnt quite go as far as everybody was into spitting yesterday in pushing back the idea that european auto tariffs are a risk. We also see some weakness in the spanish market once again. The market not liking what is happening with spanish politics at the moment, and the coalition that is being put together. Again, it is the banks under pressure. The ibex down by 1. 5 . Vonnie fed chair Jerome Powell will deliver remarks on capitol hill in about an hour before the congressional joint Economic Committee. Powell saying in compared testimony that Central Bank Policy is appropriate as long as the economy stays on track. Joining us now for a bit of a dissection of where the fed stands, even as public impeachment inquiries get underway in was
We will find out. And some say just when you called into a netflix show, it is canceled. Why the ax falls so quickly. We explore. Our top story, the trade war between the u. S. And china, President Trumps decision to delay 10 tariffs on an additional 300 billion of chinese exports hasnt stopped beijing from hitting back. A report says china has no choice but to take necessary measures to retaliate. Apple shares have rebounded. According to bank of america, apple is facing a much lower impact from tariffs as a result, and the impact to Company Earnings could be minimal if products are exempt. To discuss the continued trade standoff we have eugene munster, and in los angeles, bloomberg trade reporter sarah mcgregor. Sarah phyllis and over the last 24 hours, still no sign of how china will tell will retaliate, right . Sarah we dont have a clear picture yet of how china will retaliate. The week is such a whirlwind, the trade war, so many ups and downs. Companies like you said, the apples o