In mystery name . We get a minneapolis appearance from pete. Look forward to that but beginning with this. Breaking news in retail, the gap scrapping plans to spin off old navy shares jumping on the news. Lets get to Courtney Reagan with the details. Gap, inc, reversing the decision to spin out old navy into a publicly traded company, increasing guidance for the full year and giving leadership updates and a surprise announcement in the last hours shares popping on the news, they were behind be pulled become a bit. But they nounsed the gap pick art feng was out the separation was first announced at the end of february 2019 interim ceo Robert Fisher said while the object he was of the separation remain relevant our board of directors concluded the cost and complexity of splitting into two quips combined with softer Business Performance limited our ability to create appropriate value from the separation gap, inc, now expecting fiscal full year sales and comps to come in at the higher end
The santa ana winds have kicked in, theres a frost advisory also in Mendocino County with temperatures in the 30s, we have our fair share as well, humidity, santa rosa 70 , 5 , 70 for Mountain View and much better there at the offshore direction still in place, not strong but it is there, the south when fairfield north at nine and also davis a northerly breeze not as strong as yesterday, at blackhawk in the Oakland Hills the northeast breeze and the humidity just about 20 . Still a tough breeze, not that strong but it is there. 30s and 50s, and incredible spread on temperatures, 40s 50s, low 40s for some, upper 30s, 37 yesterday at lafayette, 50s this morning for our observat what about now were also looking at some of the other bridges happy friday to. Looks pretty good here, deliberate slowing nothing of the ordinary getting onto san rafael a 22 minute drive from the macarthur bridge better than what the bay bridge a 10 15 way. Nothing out of the ordinary clearing a crash on the san
Well and apple. That event is just wrapping up now. Announcements shaking out in the stocks of different competitors. Were going to fill you in on all of that action but joining us for the hour is steve grasso from stuart frankel. Steve, great to see you. Good to see you its amazing. Not necessarily a major move for the averages today or right now. Everything is slightly lower and actually, if you look at the week, the dow is actually flat so far to start off the week and yet theres been this great rotation talk to us about that. The rotation is coming out of growth into value. How long does that last is how long the market will be under pressure and for now, it probably will last a little bit longer, but get a trade deal, throw everything i just said out the window and you see everything rally back people are making the analogy back to 09 and 2016, with this rotation that lasted for a couple of weeks. I dont think it will be that long do you really think were going to get a trade deal
United states. Against a massive Misinformation Campaign fuelled by Chinese State backed twitter and facebook accounts. Were live in hong kong with the latest there and its a big week for retail coming up tjx, kohls, many more reporting it is tuesday august 20th and Worldwide Exchange begins right now. Welcome to the show. Futures indicating the dow will open up fractionally higher at this stage the nasdaq up by 11 points heading into this mornings trading session, the dow is now within 145 points of recooping all of its losses from that big wednesday 800 points sell off in the dow. The s p is just 3 points away. The bond market currently in focus as well. The yield of 10 year u. S. Treasuries you can about 1. 8 1. 52 just about six basis points separating those two. That 210 spread for treasuries yesterday the white house was pushing back against recession rhetoric today its numerous reports the Trump Administration is preparing options to help bolster the American Economy and help pr
63 in San Francisco. We will climb to the 70s downtown today, and looking at numbers in the 90s inland. We are talking upper 90s by sunday afternoon. Details on the rest of the weekend and next week coming up. Thanks, lisa. Many of the democratic president ial candidates are making their way through San Francisco this weekend. They are here for the Democratic National Committee Summer conference. The dwindling pool of candidates is now down to 21. Abc 7 News Reporter liz kreutz spoke with some of the president ial hofuls. Friday night with president ial candidates. Can i show everybody . Yes, you can. Reporter kamala harris, cory booker, sttom steyer, andrew ya, some of the hopefuls seen maneuvering from caucus to caucus, making their pitch to Democratic National members. What do you need to win over voters . Work, work, work. We can afford to make public colleges and universities tuition free. Reporter in this warehouse, Bernie Sanders addressed supporters on college affordability. Ha