An Evacuation Order or warning is in effect south of there to the oakville grade. The Sonoma County sheriff had this message. The biggest concern that we have regarding evacuations is this red flag warning that has gone into effect at 1 00 today and extends through tomorrow evening. My main message for you today is that more evacuations are possible. San Francisco Police and sheriffs deputies are now hoping the patrol the evacuated zones. And the glass fire moving dangerously close to the northeastern edge of angwin. Flames are bordering the small town. Reporter the work thats happening this afternoon is critical to save angwin. Fire crews tell me theyre building a fire line from the road to spring lake road with hopes to save angwin. Its day five, working in triple digit heat. These heroes arent giving 140pound hoses a half mile up the hill side of northeast angwin, each crew pouring out 100 gallons of water a minute to fight the flames. Were so appreciative. My parents home is Still
Break down the key sticking points and a Worldwide Exchange exclusive ed morse making phone calls the investment is his best bet right now. Youll hear it here on Worldwide Exchange on cnbc good morning, good afternoon, good evening from wherever in the world you may be watching. From here in the states, im Brian Sullivan kicking off with the big blue. No real rbi today. Lets call this the rbi. Ibm is up some 5 in the premarket if the gains hold there on ibm and they may not if they do, that could ad 45 points to the dow at the open. Ibm your rbi it is very rare that ibm rises after earnings according to our own earnings guru, this is the 23rd eps beat. Up bigly well call it ibm, your rbi and you are making investors today a little bit of dough. 70 of the time in the past five years, your stock appears to be down after earnings. This is the eighth straight quarter where sales are flat down on the year to those highe futures, the nasdaq showing gains right now. With the move yesterday, t
Down again that reopening trade getting slammed. You can see that in the airlines there all taking a hit today later, check out this ride shares of avis budget, up 300 from the march lows. Getting a boost in the red hot used car market. The ceo will join us power lunch starts right now thanks energy and financials are leading the declines today they are down way more than that stall worth technology sector. Bob has more on this Early Morning reversal same story. Teches still out performing energy, financial, other cyclicals. Not a good start to earnings season big miss on earnings and very poor guidance. Walgreens has not been a good stock. Thats real problem. I think they may be basicing market mentality banks same story Huntington Bank was 5 goes to 12 its back to 8 again. Its an invertsed v. Whats moving the market theres five things. Is the reopening going well or not. Lets call it bumpy. Is stimulus coming maybe theres less good news on treatment advancing. Thats good news elsewhe
I mentioned yields the tenyear hitting its highest level since last october earlier today. Retail sales coming in better than expected. How about the atlanta fed taking gdp and its forecast up to a stunning 5 believe it or not. It brings us to our talk of the tape how vulnerable are stocks right now . Adam parker is ta cnbc contributor. Do you feel like stocks are vulnerable its been a rocky couple of weeks, especially for tech what do you think . The earnings season was, i thought, pretty good. Better than feared. The big cap tech stocks, 2024 earns are higher than they were on july 1. I think the fundamentals from the Companies Look okay. I think whats happening is a fear of a perception about Interest Rates and how that means people will probably not want to pay as high of a multiple as they did a month or two ago. You talked about rates backing up for a long time the relationship between the perception about rates and the pricetoearnings ratio was very strong. It kind of broke in m
Thats what im beginning to believe as i survey the sometimes massive destruction in stock prices that weve experienced in march and april. Of course we have a glorious lack of big picture economic information, getting some weaker labor numbers last week that could put the if hefed on a cout interest rates. Weve got a couple of fed officials lurking around, waiting to speak in public. Theres some Consumer Confidence along the way. Not to mention worries about disneys number. When you look at the survey, dow gaining 107 points, s p jumping, nasdaq jumping 1. 9 . You know we have moved on to an after math of a vicious selloff. A decline here might be occasion to bye bye bye. In other words, maybe the worst is behind us. Lets take the quintessential stock of the new year, lets take nvidia. I want you to think of the nvidia ark, it started on march 8th. Thats when it peaked and we got a strong report. Whats happened since then. Nvidia introduced incredibly revolutionary chip called blackwel