Josh, great to see you. Glad to be here a tight trading range for the major averages this week. Yeah. How would you sum it up so far. I think whats interesting is there seems to be this rotating cast of stocks that are working against the averaging, so today is transport i think three out of the worst stocks are railroads, some of the big ones being hit hard. Theyre not very important in terms of waiting, but very important in terms of people paying attention, either because theyre technically inclined and because they think thats a important technical indicator, or theyre people that think its an economic story that needs to be understood, and theres some skinned of bowling pin effect but i think the bigger story is that some very important stocks to the market cap weighting of the s p, netflix being a reasonable story as well theyve gotten smacked down where they could have broken out. And netflix having a tough week. And thats got an impact on psychology and on the construction of t
Would it be a mistake right now . And we do expect big news from tesla during power lunch. It could move the stock. Mandy is off today but were happy to have melissa lee join us from the nasdaq. Well get down to her in just a moment. We begin with the big story on the American Housing market. Some really bullish new data but how bullish are they really . Diana olick in washington with the startling numbers. Di . Reporter well, tyler, its bullish depending on your take. Home construction took a big leap in june up nearly 10 from may but it was all driven by the multifamily apartment side. Renter nation rocks on. Singlefamily Housing Starts were down just under 1 in june from may, up 10 from a year ago but thats not really saying much given where we were a year ago. Multifamily is where the party is at. Starts up nearly 29 for the month, up 55 from a year ago. Thats where the good news is because weve been talking so much about skyhigh rents. More supply should help to ease that burden f
Destroyed a section of the sidewalk and part of the road. Were told that strong winds and dry rot are what caused the tree to fall. Bring in our chief meteorologist bill martin to talk more about all this. What are we looking at here . A lot of too with the trees abandon other trees that may tall over the next week they still have their leaves on them. We have winds like today were going to see rain. It weights the tree down youre going to notice that the next week or so more rain and wind as well. Well see a lot of branches down. Were not deep in the fall. Its raining out there now. Heres where the rain is falling mainly north. There is wind weve been talking about that. The winds have been fairly significant. Weve seen fairly gusty winds plainly along the cold front and inland bay valleys. You see satellite loop not change for some reason. Lets go live picture. This low Pressure Center is just the beginning of more weather coming our way. Right now as you look towards future tower so
Have been reported. Want to give you a live look at the monday evening commute. This is highway 237 in millipedes traffic backed up as you can see heading east. Heres interstate 08 in berkeley. The University Avenue crossing at the top of the screen. It is backed up in both directions tonight. Kind of what we see whenever the rain starts to fall. Also reminder for you get the very latest on the weather conditions from our ktvu weather app were posting updates on twitter, facebook and instagram. To developing news out of Sonoma County where there is an amber alert for missing baby and sheriffs deputies say his mother is the suspected kidnapper. Ken wayne has been following the story. Hes in our newsroom with more information. S. Reporter the baby disappeared sunday morning from a home in guernville but it wasnt known until today that the baby might be in danger. The amber alert was issued 2 00 this afternoon. 7 month old henry massey. Authorities say his grandmother has legal custody an
Nasdaq was strong. Technology, one of the better performers on the day. Investors betting lawmakers will reach a deal on the debt ceiling and avoid default dont. John harwood with the latest developments out of washington. Down to the wire, what can you tell us . It is down to the wire, but they are going to reach a deal. The senate expects to vote within the next few hours on that deal. Expect an overwhelming bipartisan vote in favor of the deal struck between harry reid, democratic leader, mitch mcconnell, that would reopen the government, extend funding through january 15th, lift the debt ceiling through february 7th. And that deal is expected, as i said, to go some time between 5 00 and 8 00. The house will take it up. They could be done in the range of 10 00 to 11 00. The bill would then go to the president. I just spoke to a House Republican who said that the at the Leadership Meeting just concluded. Speaker boehner, entire leadership indicated they were supporting this deal. The