Power shutoffs. Well have those details and more coming up in just a few moments, but first we want to bring in meteorologist Mabrisa Rodriguez with more on the fire weather watch. And the impact it will have later on this week risa either jonathan and just seeing and it will primarily impact our north bay mountains specifically those of you in napa county. Could see gusts upwards of 40 Miles Per Hour less starting monday night for wednesday morning dropping relative humidity into the teens as low as 12 at times the same for the northeastern mountains were those of you in Sonoma County so. We are tracking this fire weather watch because it does go into Effect Tomorrow night were getting a little bit of a break from Mother Nature though, thanks to that cool sea breeze noticing some marine layer along the coast and thats really going to help with moisture content even for inland valleys as well for your monday because that cool sea breeze finally going to extend to our inland spots and t
From todays apple event we start with a major selloff in the financials the biggest driver in the market with the xlf falling more than 1. 3 citi dropping 7 today under pressure that regulators could crack down on the banks Risk Management systems the stock is now down more than 12 in the past two sessions guy . Dan nathan has been talking about this for a while one of the things weve said is todays banks are much different than ten years ago theyve become utilities you have to look at them differently and you have to factor in valuations much differently. Ill say this quickly about citi right now at 45 the stock is now trading 63 of tangible book, assuming that tangible book is accurate thats levels we last saw probably in the financial crisis these are trough valuations in terms of the price of tangible book i think Warren Buffett told you everything you need to know about us banks hes obviously paring down exposures in banks i think that tells you a lot as well in terms of citi, its
Outbreak in the u. S. , but new jersey reported its worst day yet. More money for Small Business as the treasury secretary and lawmakers signal additional funds will be allocated for the Small Business program, which has seen enormous demand and m. G. Firms from exxon to halliburton may lay off workers in light of the economic turm l turmoil. Well speak with the ceo of verizon about the companys effort to keep students informed while they are away from school. And the ceo of state street will join us. We have details on the Small Business relief meeting that is taking place this hour at the white house. Mike santoli is tracking the markets fading gains this hour. Ka kayla, first to you on breaking news in washington reporters are entering the roosevelt room right now where President Trump and his economic advisers are set to host a Virtual Meeting with a slate of financial industry ceos to talk about what they are doing to assist Small Businesses. The list of attendees includes some of
Explaining that. Later, in honor of valentines day, tim seymour is going to do his best cube ed impression and tell you which storks on wall street you should love power lunch begins right now. Thank you, tyler welcome to power lunch, everybody. Im kelly evans and stocks are pulling back from record highs major indexes are still on track for second week of gains in a row and best month since june. Dow down about onethird percent now. Look at boeing one of the reasons why near session lows and down more than a percent on news that united says its canceling all 737 max flights until september now. Boeing down 1. 25 . Get to bob pisani at the new york stock market looking at damage done to the s p below the surface. Bob . Yeah. Boeings not helping caterpillar, ibm not helping today. Pointing out, kelly the right. Still up 1 for the week despite all these concerns she you the s p for the year new highs the other day. 4 were gain for 2020 so far thats quite impressive given all the issues w
Being debated today. Hello there good morning just. Watching r. T. International senior journalists are once again fighting over russia with one t. V. Network now suing the host of another describing them as literally paid russian propaganda. Has more on the story. Here comes a familiar voice which becomes even more familiar if we hear words like russia or russian the most obsequiously pro trump right wing news outlet in america really it literally is page correction propaganda for those who still didnt recognize that that was really literally Rachel Maddow speaking about the one American News network on her and this n. B. C. Show ill get to the point of reminding you how she keeps seeing russia everywhere in a moment but dont you think there must be someone out there who wont just swallow what the m s n b c star anchor says without hitting back with a decent jab well oh a ed is filing a defamation lawsuit they want 10000000 bucks one america is wholly operated and financed by the herr