First a check in on the market the dow lower by nearly 300 points moved low er perhaps by the fitc rating plus, some street talk around discover financial the company ceo resigning. That stock down more than 10 . Also, good news, bad news. The good, Warren Buffett adding a stake in the stock bad, home Builder Sentiment dropping sharply with rates over 7 . We begin with the warning from fitch the firm saying it may be forced to downgrade dozens of banks, big ones, including jp morgan chase, coming after recently downgrading the United States credit rating. For market reaction, lets bring in doug butler, director of research at Rockland Trust what has got fitchy feeling so well, i could rhyme but i wont. Ill also not go there. But again, fitch downgrading the banks, very core lair to what they just did. Its their really negative on the government and theyre taking this as a broad swath theyre saying the Banking Industry as a whole and greater problems which is why they would hit jp morga
Youre heading. Its cool 50s 60s for current temperatures. Nice way to start the morning. Good for the dog. Walk that job that you want to get out of the way warm afternoon and then the real he gets here later in this forecast, which ive got still to come rain. All right, john, thank you for it off to a friday lights start probably stay this way. But if we dont, nows a good time to get things done at 7 a and look at the bay bridge meter lights are off in traffic is freeflowing smooth sailing. However, there is an accident fremont street exit. Been watching drive times on the bay bridge and they have not gone up. So hope hes able to cruelly that off the bridge. 15 minutes. Mateo bridge, no major issues there. Your Response Center bridge nestled around 12 and the Golden Gate Bridge that a little that little line fong 20 minutes to make that drive. James, back to you. Thanks. Reyna. All right, 701, is the time of the top story this morning is the fact that the death toll has gone up in mau
Network of emergency sirens for the fire spreads, but activate other systems, including warnings to peoples cell phones. Nbcs crisp alone has the latest. Reporter in the hawaiian town of lahaina, on the island of maui, the scope of the devastation is becoming clear. I have never seen something ravaged so fast. Reporter dozens, dead so far, and at least 1000 buildings destroyed. Wildfires that started tuesday quickly became an inferno driven by actually high winds. The fires moved so fast, people jumped into the ocean to save themselves. Local officials dont know who or what they will find as they search for the missing. We want to reunite families, want to get people information. Whether they are family members and one shelters, or whether they are among those in the parish. Reporter information is hard to come by. Tens of thousands are without power and phone service. Please, please. People are desperate. Reporter local radio stations are trying to keep people connected. We hear them
Announcer this is nightly Business Report with Tyler Mathisen a driving ahead. Automotive newcomer tesla sees deliveries hit a record just as sales slow industrywide. Status update. Facebooks profits surge, fueled by growth in mobile ads. But investors dont appear to like the result. And all real estate is local. While some Housing Markets are redhot, others are nowhere close. Those stories and more tonight on nightly Business Report for wednesday, may 3rd. Good evening, everybody, and welcome. Its the newest automaker on the car scene. And at times, its the most valuable. Tonight, tesla said its quarterly revenue more than doubled. And it shipped a Record Number of cars in the first three months of the year. But its not your typical car company. Founder and Billionaire Elon Musk described his vehicles as a sophisticated computer on wheels. The electric car maker also burned through a lot of cash in the quarter. And its not profitable. Teslas loss of 1. 33 a share was wider than expect
322 points. Down one and half percent. Also the same story. Its down more than 2 . They were treating from tweeting from record highs. It can all get bogged down following the revelation of a memo. It has claimed that that memo shows President Trump asking comay to take it easy. We have it covered from every angle. And Richard Goodstein they will tell us what all this means for the trump administration. We are less than an hour to the closing bell. I am Ashley Webster in for liz claman. Lets start the countdown. After weeks of ignoring every sign of trouble. They are suddenly selling off amid evidence. A damaging allegation that could derail the white houses policy agenda. You can see the losses piling up. Down as much as 354 points. Still on track for the worst day since the election. Its down 327 as we say the s p down. Down two and a quarter percent. The fear gauge which have been hovering at the lowest levels in a century so much for that. Now 1420 about 300 today. Maybe some of th