own job this morning, but the story from the fed took the market this morning. we are dealing with some bad news. i think we have a volatile market. we will start looking into next year wondering where the economic growth is because congress has their hands tied basically after signing their deal with the devil. we cannot increase the economy without cutting spending or raising taxes or any sort of stimulus plan that congress wants to put out there. so we really have handcuffed what congress can do. >> what can happen next? >> i would look for high quality names, mortgage stocks, banks of the very

well. that is the obvious winner with the low interest rates. anyone in the business of lending. >> so was the biggest reason that the rally happened? >> a guarantee from the fed that they will not do anything to us we may have ammunition to do more type of stimulating plans. and they said that we are conscious of what is going on, they did say that the economy is slowing down, they gave us what we wanted to know. they said that they thought that standard and poor's was wrong. did you see that banner over the building today? >> yes. >> in spite of the recent chaos, they have a bullish forecast. some expect interest rates to remain low. she says that there are

signs that the market is moving off the bottom and investors are taking notice. >> it has been a roller- coaster, i think that people demotions have definitely gonna involve. but remember that interest rates are still very low. affordability is very good in the bay area and will continue to be good because the job market is picking up as well. i think that we have reached the bottom. i think that we are probably just slightly on the way up. it's not a stable point because as people continue to buy and investors especially, this is a great time for investing in wall street, a great time to buy, if you have a steady income and you can demonstrate its, and your credit scores are good and you have a good credit history, then chances are you will be able to get a loan and by house. >> she says that investors who make up about 40 percent of the market are a good barometer of the growing confidence but she says a

rise in interest rates however unlikely could be rel. the confidence. apple was briefly on top of the financial world for a little while it was the most valuable company in the u.s. and it could happen again. the company was worth $338 billion. exxon mobile came back at the end of the day but they're saying that apple could make it happen again. apple is now a larger company than wal-mart and general electric. stay with us as our coverage of the economic crisis continues. rob black will be back in the hour, he will answer more questions and we have more information on our web site kron4.com and r facebook fan page. [music] >> it turned out to be a very nice afternoon. temperatures are pretty mild. cooling down to 60 this evening, 56 for a morning low in back up into the '70s for the east bay.

is war no matter where you go this afternoon, the inland valleys are nearly 90 degrees everywhere. 90 at livermore, antioch and fairfield. 80 degrees san jose, 84 los gatos. '60s and '70s for the bayshores. take a look at the difference of the past 24 hours. eight degrees warmer in hayward, 6 degrees in livermore. one degree cooler here. not expecting as much fog tomorrow morning. the fog is pushing back to the coastline by noon. i think we will see complete clearing, sunny and warm conditions, 67 san francisco, 87 livermore. we will talk more about the of fog less forecast coming up. >> there was a drive-by shooting that killed a three year-old boy yesterday afternoon he was shot on international boulevard near 64th ave. police say

that someone in a car opened fire on two men walking down the street. you saw the picture of the little boy, the men suffered minor injuries the boy who was with his family when the shooting happened was taken to the hospital and was pronounced dead. a memorial for the three role has been put here at the scene of the shooting. this was by members of the community who are very saddened by what happened. they said that oakland police do continue to look for the suspects. >> the tactical alert has been called off however open police said that the search for the drive-by shooters that killed this three year old continues. as you can see, the opd mobile command unit remains at the scene. while helped from oakland housing authority to assist in the search. homicide authorities said they are following up on several leads, and community members are coming forward with tips about what they saw monday afternoon. in fact, the opd

deputy chief says that an arrest can come at any time. >> we are confident that the crime will be solved very quickly based on the direction our investigation is going. >> the mayor has asked the u.s. attorney's office to form a joint task force with the dea, atf, and the fbi working with oakland police and hot spot areas in the city. however, officials at city hall said that they have nothing to report on if the mayor's request will be granted. >> today on our facebook fan page report nicole asking the viewers what they think the city of oakland should do to deal with this escalating violence within the community. check out some of the top answers, and now you can see right here in the top 53 percent say that a more aggressive police presence is needed, 17 percent believes that all the city needs is better education and a large percentage of the viewers

that nothing will help. at the bottom, 14 percent voted out there is no hope for oakland. we would like to know what you think, visit the facebook fan page to vote and let us know what you think should be done to address the escalating violence in oakland. >> new at 5:00 p.m. a computer glitch creates havoc for commuters, we ask the officials what is being done to fix the problem and writers and react to the mess. anchor and violence in the streets, people in london are reacting to four days of riots, and how people are returning to american baseball he quited to arm themselves. who is to blame for the economic crisis? >> up a new poll shows who america are really blame for the country's money problems that all ahead. okay, kids, we can record one more show.

who should get it? i really love jennifer. yeah, she's great. yeah. yeah. kyle's got that thick head of hair. and that should be rewarded.

okay, moment of truth. on "three," say which kid you love the most. ooh, fun, yeah. one, two, three. jennifer. jennifer. whoa. wow. she's so pretty. yeah. or we give it to kyle. it's really all he's got. [ male announcer ] switch to at&t u-verse and record four shows all at the same time. just $29 a month for 6 months. at&t. >> last night, it was the very situation take a look

at the seams from the monday night commute. thousands of people were stranded on platforms throughout the system. bart was struggling with some of the worst delays for more than five years. it plays the system for more than several hours. the sale was a computer glitch, teresa estacio reports that they're working on this starting with an apology. >> completely and utterly embarrassing we want to apologize profusely to our passengers who were greatly inconvenience. >> it all happened 7:30 a.m. on monday, which the system computer models stopped functioning. >> that is why we had no information, no data being delivered to our operation system's computers. the result, we have to stop service temporarily for the safety of our passengers. >> officials say they scrambled to call and technicians to get back on

track. >> the normal method of getting it back on line did not work. this so caused more delays. >> officials say finally around 10:00 a.m. everything was back running smoothly, and the routers in the control center were back on line. >> we do not expect there to see any other issues. it seemed to be a fluke, but we hope to get to the root cause of it. but in the end, we do have a fix in place and we are going to have someone on standby who will be able to take care of it rerouting that router. so that our customers will my experience anything like that again. and >> to dave writers expressed their frustration --today on bart, riders express their frustrations. not everybody is unhappy in

>> and i was there around 730. i had to get back to san francisco and there was about an hour-and-a-half wait which was not the plan but ms. brown i am like easily forgiven. i can easily forgive part. they have bailed me out for the last 10 years and this does not happen often. >> may be like two weeks ago i had a problem where we all had to get off on the fremont to richmond and righted that and then right back again, but that was the first time in a while. >> might this problem is that it is really dirty. but i still like it. >> some people have mixed feelings. we will have more on what bart is doing tonight and 6:00 p.m.. and national news, the bodies of the u.s. troops that were killed in afghanistan are back in the u.s.. president

obama and top pentagon officials travel to dover air force base will to be involved in a transfer of the bodies. once their remains are identified, they will be returned to their families. 30 americans died including a navy seal they used to live in san jose. investigators said the helicopter was shot down by insurgents. the u.s. soldier accused of plotting a bomb at for a good is being how indicted. this is him in the video, he is charged with the following. he is facing 10 years in prison on each charge. he was arrested two weeks ago near this hotel near for good after growing at a wall. last year he filed as a conscientious objector after citing his muslim beliefs. polygamist

warren just is going to prison and only after 30 minutes of deliberations. a texas jury sentenced him to life in prison plus 20 years. this was the scene after he left the courthouse the same jury found him guilty of sexually assaulting children he argued throughout the trial that he and his face were being persecuted. [music] >> a live look outside, the fog clinging to the coastline. the fog has cleared everywhere except for san mateo. the wind out of the north has been picking up throughout the day. sunny and warm conditions tomorrow and even more this weekend. first, let us talk about that fog. it clear to the north bay, we have just a sliver of fog remaining, it will return overnight but it will be slow to do so. it will not be quite as extensive. take a look for tomorrow

morning. on the coastline, you can see the fog, san francisco, north bay and notice that it is not stretching into the delta, or the inland valleys and not going far down to the south. later morning hours back to san francisco and the coastline by the 1:00 hour. i think that we will see some clearing along the san mateo coastline tomorrow. as for the temperatures, take a look, 80's down in south bay, 80 in santa clara, 81 san jose, 81 los gatos. continuing on the warm side in the inland valleys. '60s and '70s for east bayshores. it is also in the '60s and '70s and in the peninsula,

temperatures in the low sixties for the most part on the coastline tomorrow and '70s and '80s in the north bay. a look at your kron4 seven day around a forecast tomorrow. not as much fog but we will see a return for wednesday and thursday that is why we will have more cooler temperatures. but a warm-up as we head towards the weekend. ron >> looking at the golden gate bridge, it is full of fog the traffic moving well tonight. now take a look of the bay bridge toll plaza it moving a little slow but well. stay with us, more news after the break.

>> the parents are right and why can't the bay area for an outpouring of support the severed a brain

injury, lacerated liver, fractured bones, he was hit by a white pickup truck near at&t park the family was visiting from philadelphia of the suspect was later arrested in hayward. that is him there. the two men are suing the amusement park great america. they say the park who photographed them holding hands on a roller coaster at the santa clara park and that photograph was been displayed at a counter with a bubble caption containing a slur. they say the park is not condone the action and managers have dealt with the employee involved. stay with us, more news is coming up after the break. !

sis, help me create my oasis. ok, romantic garden? oh, is there a castle nearby? no, but there's a charming farmhouse. right next to my posh castle! i'm sensing a theme here. well, i am the queen, dear sister. get your annual ikea catalog today.

honey, i can't find my internet cord. oh, i'll borrow hailey's. you're downloading movies. fast! from here? where is her cord?! we switched to at&t high speed internet and got wireless access. no more cords. wireless, okay, honestly, can i just get a cord, please? dad, the cord's invisible.

[ female announcer ] call at&t today to get high speed internet for just $14.95 a month for 12 months with a 1-year price guarantee. it's the fastest internet for the price. oooh. videos online? here? how much is that? nothing. at&t high speed internet at home includes access here. our invisible cord is really long, dad. oooh. [ female announcer ] get access to the entire national at&t wi-fi hot spot network for no extra charge. so call today to get high speed internet for just $14.95 a month for 12 months with a 1-year price guarantee. aren't you glad we switched to at&t? yes...but i want my own invisible cord. you already have one. oh. ♪ >> at 5:30 p.m. london burning. a look at the scene that sparked the outrage and how the government is trying to regain control. we will

show you how on-line sales for certain sporting items are skyrocketing. and our coverage of the economic crisis continues. how problems on wall street and washington are bringing serious disapproval to main street. sñkékékióç]s]s

[music] >> the united kingdom is facing a fourth night of anarchy. the city is relatively calm tonight but the violence, the looting, they flared up again in britain's other big cities. >> people are taking what they can, mostly food. >> the prime minister cut his vacation short to promise that wrongdoers will be punished. and dams but these are sickening scenes. this is criminal behavior

pure and simple. >> 16,000 police officers are now controlling london four times as many from last night when the crowd groaned the street and looted stores. police have said that they will probably resort to using raw non- lethal rubber bullets. this is what they are up against. the trouble began saturday night as peaceful protest after the shooting death of a 29 year-old man in a traffic stop. the police originally said that the man fired at them but the test showed that the a legal gun in his possession had not been fired. the protest turned into riots that have now been spread across england. >> it is not one person that has done this is a group of people and that is just the chain affect. >> some victims of the violence are getting fed up. >> i cannot believe this is happening. i make about some extreme views, but i can bet

they may need to bring the army out to show these people with real guns and real bullets are all about. >> others reacted by using twitter to clean up the damage. they brought runes to clean up. --brought brooms. organizers said they will go as scheduled for the olympic games. but swimming, cycling and admit in competitions are still on for this weekend. -- badmitten competitions are still on for this weekend. >> now amazon saw a rise in sales for aluminum bats and other things. now this right here is what is called a military police who telescopic a baton, it is like a night stick. this is number one on the list

because looked at this, yes that is a comma and that it rose about 49,000 percent. amazon has pulled this from the virtual shelves. now following closely behind, they have cells for a silver aluminum bat that is up 25,000 percent over the past 24 hours. and sales for this other one is up nearly 9%. a lot of the comments are about the right, one says that they ordered to that, one for their home and one for their shop. >> now this home was fully engulfed when the firefighters arrived they say someone was still in the house by the time of the crew got inside, the man was dead. firefighter say that there were no smoke alarms anywhere in the home. >> in this case there were no smoke alarms installed,

we are urging everyone to take the time to install them they're very expensive about $5.10 dollars and they can save a life. >> it is not clear what started the fire. investigator said of the home was undergoing investigations. an elderly woman was assaulted and robbed. this is where it happened, the police say that a man grabbed her necklace and written off. it happened in this terrace neighborhood on commission street. the woman was injured, but no arrests have been made. new details about pipeline safety. pg&e is in the midst of a pipeline testing along the peninsula that is following last year's deadly blast in san bruno. the latest testing is happening near palo alto. workers will force up mortars into the pipes to see if there are leaks. pg&e say that

residents may smell some gassed during the process. a new report says that pg&e ignored pipeline safety concerns raised by their own workers. in fact report says the utility company punished workers for speaking up. those workers raised concern in the years before last september's deadly blast. one of them sioux pg any just weeks before the disaster he claimed that the officials held him overnight in a hotel and ordered him to have a psychiatric evaluation after he complained about safety violations. the changes are beginning to take shape around oakland's lake merrit. the project took a dramatic turn when cyclist, pedestrians and cars were detailed around to a partially completed new bridge. it may be completed sometime next year. this will be transformed into a

cd boulevard dedicated to pedestrians. [music] >> is sunny out there this afternoon the that the current conditions. upper 80s and low 90s right now, '60s and '70s for the bayshore. still cool at half moon bay. but as we head into tomorrow afternoon we could see that clear up. 62 san francisco if you're headed to the giants' game this evening it should start around 7:15 p.m. at at&t park. we will see increasing fog and the winds will pick up during the game. now as for the forecast for tomorrow for the entire bay area see the fog rolling over it is a little broken up as well. we will have much fog overnight. as we head into tomorrow it will clear up. but as we head

into wednesday night, we will warm up and i will talk more about that coming up. >> and world news, turkey's top diplomat is trying to get serious president to stop the violence will. he met with the president for more than six hours. he says it is time for syria to consider reforms. he says that turkey's main goal is to try to end the bloodshed in syria. now those who died in nagasaki were remembered today in a memorial service thousands of people attended including a representative from the u.s. embassy. the peace bell rang at 11 02 a m the moment the bomb hit back 1985. now she has ended her attempt to swim between cuba and florida she had to stop after 29 hours. she had shoulder pain, an asthma attack, she trained for

this for two years sometimes swimming 12 hours per day the 61 year-old says that she is not sad about this. and that calling off her swim was the right call. now the president may be--0 gays and lesbians see this as we quality although it is only addressing heterosexuals at this point. more conservative leaders are angry because the they legalize divorce in 2004. it is one reason why they have about 2 million people living together without legal recognition. stay with us, more news after the break. okay, kids, we can record one more show.

who should get it?

i really love jennifer. yeah, she's great. yeah. yeah. kyle's got that thick head of hair. and that should be rewarded. okay, moment of truth. on "three," say which kid you love the most. ooh, fun, yeah. one, two, three. jennifer. jennifer. whoa. wow. she's so pretty. yeah. or we give it to kyle. it's really all he's got. [ male announcer ] switch to at&t u-verse and record four shows all at the same time. just $29 a month for 6 months. at&t. >> take a look the number from wall street. some

analysts call what happened today a relief rally. for the first time since the u.s. credit rating downgrade, the federal reserve weighed in on the state of the economy. emily has more from washington. >> investors watched wall street for the numbers, they look to washington for the words. in a midafternoon statement, the fed said that risk to the economy have increased, so the interest rates will remain exceptionally low until 2013. immediately after the announcement the stock dropped. >> we have a debt crisis. that is all on the door of the president. his policies are responsible for this. >> it is not a lack of plans or policy that is the problem is the lack of political will in washington.

>> a new poll shows that people do not like what they see in washington and it is personal. only 41 percent of people say that their own member of congress deserves to be reelected the first time ever that a majority of voters wanted to vote out there rep. disapproval of the republican party is up. democrats hold steady and a tea party has more negative views. michelle bachman says that the tea party is not to blame. >> we will get this triple a rating back and we will do it in this is how we will do it. we will cut spending now. >> the federal reserve says that it is talking about the tools to promote strong economic recovery and it will use those. >> rob black is with us talking about winners and losers, but actually you are talking about winners, beginning with the stock market. >> it was the ninth--nice

day but it has been a horrible month. i know we may not be a winner yet, but it was a sigh of relief. i predict the selling pressure on the downside is over. we make a little lower, but not with billions and billions of shares like we recently had. tactically i think this is some good stuff. now i have done this a couple of times, i like market corrections, i think part in hunting park you like buying shoes 20 percent of i like to purchase stocks and 20% off. >> and other winter, the fed toward keeping the interest rate to really low. >> i have to explain this, of fort on one hand it is awful the economy is so that that they are trying to stimulate it. if you have low cost, this will help manufacturing, they want to buy and thing short-term

pretty cheap. it helps of mortgages, you may have an adjustable rate mortgage, i have a 30 years someone may have a 15 year. it keeps homes affordable. especially if you are in an adjustable- rate mortgage and it makes banks more attractive because they are in the business of lending money. if they are borrowing really low they can lend it out and make a massive profits. corporations like apple want to buy a new building they can borrow that money for about 1% or 2% and a great return on their investments. this is great for the economy but we will have a new president before they start raising interest rates. i can bank on that in my spreadsheets. >> and in the midst of everything, three tech stocks are really came out of the recession well.

>> of that yes, i googled some things and i found out what that ibm, oracle, and amazon by, all up or slightly sideways. now what if we are wrong, and the economy goes into a recession you want to own companies that have these big contracts that are spread out over 10 years. companies may say let us not get new computers but they still have to pay for the servers on the old computers. as an investor this is a great time to save. i think things may get bad again i can get invested but i do not have to be in apple many having to buy different products every two, to three years. i am not saying purchase apple when i do own apple. but i think there is a smart way to do things. i am all of time now 14 years ago there were six months away from going into bankruptcy, today they hit the largest value

in the world. they did not hold onto it, but they will give. down the road i think we will be talking about $1,000 per stock come as they continued to refresh their product line. and there ecosystem is amazing, once you purchase one product you want to purchase two, or three more. exxon mobile is a good number two. [music] >> as we head into tomorrow, expect a little relief from the fog just for the coastline in the bayshores. and by noon and 4:00 p.m. i think we will see some more sunshine the temperature is 67 in san francisco tomorrow afternoon in 87 livermore. let us talk about temperatures, pretty mild as you head out the door. warming up quickly in the inland valleys because we are not expecting any fog and those locations. 81

down in san jose, take a look at more temperatures neighborhood by neighborhood. >> in the '80s for the most part through the delta. coming a little closer to average for this time of year, look at our temperatures for tomorrow. >> temperatures are pretty much where they should be for this time of year lease for tomorrow. as we head into thursday and friday, the fog returns. into saturday and sunday in a warmup in store. leading the temperatures about where they should be for this time of year. we will start to

cool down a little bit with more fog returning early next week. >> pay attention to the man that is walking across the street at fifth and market in san francisco he is walking against the like. so he gets to have a chat with a san francisco police officer. with all the pedestrian accidents in the city, police have focused their efforts 01 pedestrian training. >> i was in the intersection trying to back up. >> he was issued a ticket for blocking the crosswalk. this motorcycle is ran a red light in front of the police. he was visiting from spain in got confused. he was issued a warning. police officers issued more warnings than tickets because they wanted to educate people about a rule of the road including pedestrians. for those that

did get a ticket, it was mainly for... >> crossing the street, pretty much when i was not supposed to. >> supposedly walking across the street when the signal had stopped. rob >> this man was actually wandering in the street and when approached by officers things got a little tense. >> it turns out if we had a little too much to drink he was not cited, but the officers sent him to a detox center. san francisco police will be stepping up enforcement city-wide in order to reduce pedestrian vehicle accidents and this means for everyone. and as the police continue their efforts i will show you more of these in the coming months it. >> taking it looked at traffic, this i680i looks

good, stay with us, more news after the break.

but of >> off to an end to my tech report tonight at 8:00 p.m. i will show you how this works. honey...? [ mom ] yes.

honey, i can't find my internet cord. oh, i'll borrow hailey's. you're downloading movies. fast! from here? where is her cord?! we switched to at&t high speed internet and got wireless access. no more cords. wireless, okay, honestly, can i just get a cord, please? dad, the cord's invisible. [ female announcer ] call at&t today to get high speed internet for just $14.95 a month for 12 months with a 1-year price guarantee. it's the fastest internet for the price.

oooh. videos online? here? how much is that? nothing. at&t high speed internet at home includes access here. our invisible cord is really long, dad. oooh. [ female announcer ] get access to the entire national at&t wi-fi hot spot network for no extra charge. so call today to get high speed internet for just $14.95 a month for 12 months with a 1-year price guarantee. aren't you glad we switched to at&t? yes...but i want my own invisible cord. you already have one. oh. ♪

sis, help me create my oasis. ok, romantic garden? oh, is there a castle nearby? no, but there's a charming farmhouse. right next to my posh castle! i'm sensing a theme here. well, i am the queen, dear sister. get your annual ikea catalog today.

and >> at 6:00 p.m. a three- year-old has been shot and killed. caught in a drive-by shooting. now stocks bounce back. interest rates stay where they are. how the economy is affecting you. and why apple was briefly sitting on top of the business world. [music] >> this three-year-old people from his community and are coming out to my calling for an end to the type of violence that took

his life. he was killed in a drive-by shooting on international boulevard yesterday in oakland. we are live at tonight's a vigil. >> there are many people here lining up dropping of candles, stuffed animals and balloons signing a piece of paper take on to the wall for the three year-old boy there was shot and killed in a drive-by shooting oakland police have told us they have not made an arrest, but they are confident that the case will come to an end very quickly. they say is moving very quickly and they're using many resources including the sheriff's department and u.s. marshals. they say people are coming forward because they're frustrated with this type of activity in this area. more and more people are starting to gather here. i spoke with the family, actually i take that back i spoke with someone at the family's home they say they're very heartbroken

about what has been going on. a council member spoke with larry reed he says that this violence has to stop. and >> we lose a 70, 80, 100 lives of violence on the streets of oakland every single year. if it takes bring all of the resources to help solve this problem so be it. and those that challenge us about gang injunctions, about curfews, i do not care. if it means they have to stop the cars and check them as well, then do it. we have a police apartment that is understaffed and that is why it they're asking them to bring in extra forces to help us. i had a homicide last week in my district, two homicides the week before and one more homicide that we do for and that is just in my district. this is now august, we have

september and october and you will only see the insanity on the streets of oakland get worse and not better. >> people have been stopping by to visit this vigil that has been set up, many people have been crying and saying exactly what the council member said, this needs to come to an end. we are in oakland. >> people in east oakland were shocked and outraged by what happened. jeff bush got reaction from residents who say more needs to be done to protect the community. >> residence here say that this part of town is safer in one day after the shooting but they say that is only because there is a fleet of television crews on the scene and police have saturated the area. but what happens later when everyone packs up and moves on? >> you get shot. because you're just standing by talking on your phone and that is how happens in this neighborhood. >> he has a washing

machine repair shop right next to where the shooting happened he said the one thing that keeps a criminal act captivity away is simple. >> we have the police officer that parks right here in his cruiser unfortunately he was not there yesterday. >> does it help? >> definitely it is a big difference. >> they say the gang and turf war is the big blame in oakland. police cannot be everywhere at once, this woman did not want her face on camera but she says the witnesses need to help the police. >> if you see something, say something, you would not have to show your face, you can be an anonymous caller. if i see something i will tell it. >> i think there needs to be more police patrolling the area because it is too much going on. when i moved two years ago, there used to be a police there. but now i do not see any police doing their job. >> one thing for sure, the

residents in east oakland are gripped with fear. >> and just a few blocks away from zero where the little three year old was killed, there was a funeral service for brother john. he was the good samaritan that was shot to death on july 26th when he and his family were feeding the hungry in east oakland. on the market, a big rally on wall street. the dow up almost 430 points rebound in from the meltdown from yesterday. other indexes saw gains as well. while the market close on a positive note it was not like that all day. dan curve and has a look at the volatile day on wall street. >> after monday close at 10,00809 tuesday the market opened jumping more than 100 points in the first seven minutes of trading. for almost the next five hours

it remained relatively steady. at just shy of the 11,000 marks, but at 11:19 a.m. the federal reserve announced that it would keep its key interest rate near zero and do that through mid 2013 because the pace of economic recovery was considerably slower than the fed had expected. this dim outlook sent the market on a tailspin, the dow dropped more than 300 points in less than a half hour. but in the last 75 minutes of trading, the stocks rallied climbing more than 600 points and closing at 11,000 to 39 at 8 a gain of nearly 430 points for the day. now to put this in perspective this is the 10th highest point gain in history and the biggest since march of 2009. >> the federal reserve announced it could mean good news for americans as teresa estacio reports financial experts tell us who will be

winners and losers beat. >> it was another volatile day on wall street this time it ended on a positive note. financial expert robert black explains will benefit the most with this announcement. >> the federal reserve came in and give us what we needed to hear, low borrowing costs through 2013. some that is good for you and me with mortgages or adjustable rate mortgages, houses will remain fairly cheap. >> there could be some more good news and challenging times given the state of our economy. >> this is great for banks because the cost of money is cheap. they can lend money to you and me with great credit and get a good return or give it to someone with a worse credit and get even bigger returns. now on the downside, the access to cheap money is there because our economy stinks. there is no inflation that is a plus.

the fed will increase when they see inflation. it will start to cut spending, that will be billions of dollars out of our economy is projected about 2 billion per year which will equal about $5 million how jobs lost. >> they say there is plenty of blame to go around for the credit downgrade some blamed the rating iagencies themselves. he says that the s&p help to create at this from the beginning. he says they signed off on subprimal loans that did not deserve aaa ratings. >> imagine, these loans will be generated by a mortgage broker, he takes it to the bank, the bank approves it, and in the bank sells this on the market. the bank has to say how much the loan is worse. or they have to say how much the bundle of loans or box of loans are worth. s&p in the

credit agencies never really looked in the boxes. they would approve maybe $100 million worth of loans in several hours. it would never looked in the boxes to see what is in the box. there are just marking triple a credit. i heard as many as 8% of the subprimal loans were marked triple credit. none of the subprimal loan should of been marked triple credit. i think that s&p is a big problem. >> jones has this paper weight on his desk saying that he may use it as a crystal ball. he predicts that there will be no rise in interest rates because the economy is too weak. [music] >> a live look outside over downtown san francisco. sunny skies, we do see fog right at the coastline. as we head into tomorrow, less fog is expected. look at our current conditions.

>> if you're heading out to the giants' game tonight, you will see increasing fog and breezy conditions through the game. we start the game at 60 degrees in wrap up around 58 degrees at 10:00 p.m.. coastal fog will start to spread into the bayshores overnight. not as extensive as what we saw today. it will clear off the coast tomorrow afternoon as long as the wind to stay strong. i will talk more about that coming up in a little bit. we will be back after this. for over 60,000 california foster children,

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>> for a brief time today apple was the most valuable company in the world. the technology giant was trading

a little over $367 per share. they had more than $341 billion briefly surpassing what exxon mobile was worth at the time. the worst crossed back and forth between 2 but when the market closed, exxon mobile reclaimed their space on the top. and i think this new phone may replace the standard text messaging. it lets users send and receive real-time text messages with a group of friends, or individual friends. they can send photographs, privately share locations. this is the first photograph that they have released of it. now youtube has licensed to more than 20,000 movie scenes. this is without copyright issues, there are thousands of movie scenes on

youtube, most are low resolution videos that are not licensed, the channel that is featuring the clips will premiere this friday. >> do you know what a my- phi gadget is? i will tell you about it and if you do not know about it is something that might be able to help you out and this is coming up in my tech report. okay, kids, we can record one more show.

who should get it? i really love jennifer. yeah, she's great. yeah. yeah. kyle's got that thick head of hair. and that should be rewarded. okay, moment of truth. on "three," say which kid you love the most. ooh, fun, yeah. one, two, three. jennifer. jennifer. whoa. wow. she's so pretty. yeah. or we give it to kyle. it's really all he's got. [ male announcer ] switch to at&t u-verse and record four shows all at the same time. just $29 a month for 6 months. at&t.

>> a live look outside this afternoon, the fog is still clinging to the coastline but it is a little more broken than what we saw yesterday. a look at our satellite picture but it is broken in just a sliver of it left as we head into tomorrow morning. take a look, oakland and hayward have seen the fog early tomorrow morning same with the peninsula and parts of the north bay but not extending into the inland valleys and not that far down south. later in the morning it clears back very quickly. in the afternoon clearing back to the coastline. i think we will see it clear back for the

winds out of the north they will stay strong. temperatures for tomorrow afternoon mainly in the 80's in the south bay, 79 sunnyvale. in the upper 80s for the inland valleys tomorrow, 90 degrees and antioch. 87 in pleasanton. it is still pretty warm inland. '70s for the most part for our bayshores. 70 oakland, 79 fremont. 67 tomorrow and san francisco the temperatures are warming up along the coastline. we have additional sunshine in the afternoon and temperatures mainly in the '70s and the north bay, 87 and 81 tomorrow afternoon. temperatures are nearing the average marks for this time of year. only a couple degrees below average in concord, one degree below where we should be in san

jose. temperatures are critical to average tomorrow, but we will cool down as some fall returned to the inland valley. we will warm up into the weekend with less fog expected. it will go up and down as we head into next week, early next week, the dense fog returns and cooler temperatures will as well. >> experts are watching the sun. this is video from nasa of similar solar flares, several months ago, the solar wind seems to die down. but there seems to be a remission of concerns. how they can problem with gps systems, power grids and military satellites and many more things. >> have you heard about these new gadgets, if you have, i will tell you how to get the best deal. if you have not heard about this

mi-phi gadget, you should know about it is a little thinner than a deck of cards, very light weight it comes with only one button that is because it only does one thing it creates a mobile hot spot up to 400 ft. until now people have been using u.s. the error cards to connect to the web site when they are out and about callicrates work great but they can only provide web access for one device. now we are carrying around things like tablets and smart phones that do not have a u.s. the output. this can't allow 5 wifi devices at one time the user cellphone signals to do that so worked anywhere. meaning you can provide web access for several laptops and ipad, smart phone all at one time. so, using this gadget with your smart phone will give you better results on your smart phone. these are

easy to use, just turn them on and then on the device that you want to connect, look for your network, give the password and then you are connected. in my experience, these works great. each of the major cellphone network carriers like verizon , at&t and sprint to sell these. they range from free, up to $100 with a two-year contract. there is a monthly data plan that you have to pay for. now here is a tip, if you purchase these on-line from the carriers on their web site they are a lot cheaper than in the store. for more information log on to kron4 dog, look for my tech page.

>> cinder-and abroad is in a hospital after being attacked in new york by a

group of people on the street sunday. --gavin dugraw had to cancel a performance and saratoga springs. the police are investigating but have not made any arrests yet. a cigar can land on this was a neighbor in trouble in austria. was that cigar lit or not, the former governor was found with a cigar in his mouth at an airport and austria. smoking is banned at the airport there. an organization is even planning a lawsuit against him. but they say the cigar was not linked, so he will probably not face any legal problems. stay with us, more news after the break.

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boulevard on the sidewalk where a memorial is growing. all the people have been stopping by dropping stuffed animals, candles, there is a piece of paper on the wall right over there that says carlos r.i.p many people have been stopping by and leaving messages. as you take a look, there are medical already here and they will stop by and continue to visit this memorial for this three year-old little boy that was shot and killed in a drive- by shooting on monday afternoon. as you can see someone right there is dropping off money, no arrests have been made in this case the the oakland police say that they're moving very quickly many witnesses have come forward and they say that suspects could be arrested as early as tonight. as >> in east oakland residents are scared and upset about a shooting death of a three-year old boy on

monday, they said that the gang and drug turf wars are seeping into the fabric of a normal society. what people say they are afraid to walk down the street because they could be caught in the crossfire they say there is one thing for sure, there need to be more of a police presence on international boulevard. >> here in oakland, opd investigators are looking into the drive-by shooting death of a three year-old boy they say that an arrest can come at any time. >> we are confident that the crime will be solved fairly quickly. >> oakland homicide investigators say that tips from the community have lead to multiple suspects and in the bay area. royal oak >> here in vallejo, and little boys and little girl are in the care of child protective services because investigators say that they have been abused. according to the police department the to the children had a rope burns on their arms of from being tied up and then said

they were mild interest- malnourished-in head injuries. two people were arrested in the case. they also removed a one-year-old baby in the home who apparently was on injured. >> this was a wild day on wall street. take a look at the doubt, it opened up and stayed steady for about five hours. and then the fed said they would keep their interest rate at near zero for the next couple of years because slower economic recovery was upon us. that sent the dow jones plunging. but then before the end of the day another surge, the dow jones closed up 429 points. >> and now in spite of the turmoil gripping financial markets across the country, the president elect of the santa clara county association of realtors expect low interest rates to

remain low pushing potential buyers and sellers off the fence and into the market. however barbara says but anyone hoping to purchase a home and qualify for a loan should have perfect credit, a low income to debt ratio and a good paying job. >> in other big story ticket did this, this to the scene monday night on board, a computer glitch left thousands of people stranded for several hours. on tuesday, the officials issued an apology and said that they were tried to figure out what caused the computer glitch, in the meantime they have taken measures to make sure that it does not happen again. >> skied a video chat is rolling out to the android smart phones. now site is coming to feel the video chat avoid for this market. it you can download this from google for more

information look for my tech page from. >> the giants are making the news for the wrong reasons, they have lost nine out of their 11 games and we ask the fans what is going on? >> i don't know. >> i guess they're in a slump. >> now i think maybe they're just too confident because they won the championship and they think i will win. and they are not really thinking. >> the little guys did not know the answer to that question but i will take a look at what is going on with the giants and my 8:00 story. the british government calling in reinforcements to try to get the violent riots in london under control. the prime minister ordered thousands of police officers to patrol the streets tonight. >> 16,000 police are spreading out across london trying to prevent a repeat

of the last three nights. burning cars, buses and businesses to let up at the night sky. ross >> in response to the riots, the british prime minister david cameron cut his visit short to hold a meeting. >> this is sickening. these are people looting, vandalizing, these are people attacking police officers and even attacking fire crews as they are trying to put out fires. this is criminality pure and simple and it has to be confronted and defeated. >> it all began on saturday night as a peaceful protests after the shooting death of a 29 year old man but the protest when into riots that have now spread into other boroughs and cities across london. please refer to

these as copycat crimes. victims of the violence are getting fed up. >> i think they should bring the army down to show these people were real guns and real bullets are all about. >> so far no signs that the army will be deployed. >> police say they have arrested about 563 people since the riots have began that was on saturday. the prime minister says that people should expect to see many more arrests in the days to come if the violence continues. >> the fog will leader in the coast but we should see some sunshine for tomorrow. not very extensive. back to

the coastline by 1:00 p.m.. i think we will see the wind clear the fog out until the later afternoon hours. temperatures will look like this, 80's down in the south bay, 84 los gatos. '70s and '80s for the bayshores. upper 80s and low 90s for the inland valleys. 81 in santa rosa, 79 navato. a look at the kron47 they're around the bay forecast. the fog is returning thursday and friday bringing slightly cooler temperatures but as we head into the weekend it is good news as we will see warmer conditions closer to average for this time of year. >> a big congratulations jay and 1 more hope won a pair of vip passes to the music festival in san francisco. but if he did not

win this time, there is already a new sweepstakes taking place on the kron4 facebook fan page. held in iran have hit facebook fan page could like it entered for your chance to win. stay with us, more news after this quick break.

>> this woman is a part of a small group of artists paint think the west, the costa county landscape. they have to focus on the background because before brown has a slight imperfection.

>> we started last week in the mattress was not there. >> yes, you heard her she said mattress' inserted it in the middle of her back crop. they have a problem and tonight i will take you on a tour of this area and show you what people are leaving behind in the next edition of people behaving badly. >> if you have a comment or story idea e-mail us at people behaving badly at kron4.com. in sports, bruce talks about the mood in the giants' clubhouse as they try to hang onto their lead. the a's travel north of the border to take on the blue jays. gary is coming up with highlights.

>> it you know this skydome, or whatever they're

calling it now everytime they open the root cap, i am told $25,000. i dunno if it is good, bad or indifferent. and then kurt had a home run. all seven innings, five hits and one run. it is not a final, the oakland a's have been to toronto tonight by a final of four to one. if the giants ahead of arizona diamondbacks. now let me add about the mood in the clubhouse. >> i think they're doing well. despite the troubles. they have been through it.

it is what separates an average team from the good teams are the teams that do deal with it in the right way they have come out here every day. you think you'll come out of the get back on track. >> the bottom line if you want to say the giants can hit, the giants aren't any good, tell me if you had $100 and you had to bet will win the national league west? hot that is it. arizona show that they're no powerhouse either. the giants get a little hitting going and they should be alright. now going into the game show business sort of. here's the deal, he is challenging fans to the video competition so here's the deal. go to the web site, i am not here to sell it unless someone tells me to. but anyway, if you can

show that you have the same motion, the same stuff, you can hook up with him and take a swing in spring training next year. sound funds you catherine? >> i do not like to replicate what he does. >> you notice funny i thought big deal, the winner will get $10,000, the winner will get a trip. you get to stand in the batter's box and have him strike you out. now if you want a memory, go find it on facebook. woods is a 20 to one choice. roy mcelroy is the best at 10 to one. now scott asked about his caddy steve williams' comments after the

tournament which he works woods over. >> i did nothing that was his intention at all. but he was really fired up a very competitive die, passionate and you know, and he got pounded on sunday. i think this week to just go out there and there are clubs do all the talking. now there were some difficult times earlier in his career, he chronicled the last meeting about alcohol he says how this stands supporting the bay area help him to get his career back on track. >> the fans here in the bay area, the way they were patient with me and gave me room to grow and i will never forget coming back out of rehab, and the reception that i received by the

fan's i was trying to do the right thing. i did not quite know what i was doing at that point. i am going on a new journey to change my life around and the fan's played a big part >> now chad's loves attention from the cameo on the cable show of it basketball wives and now he is with the new england patriots and he says that he will live with someone for three weeks during the season he says that it should be fun. not everyone is doing these contests. now chad says they have to have an internet connection, they have to have an x box and there will be some type of contest. he will contact all of his would followers and give you the opportunity to live with a chat room for three weeks. >> that is kind of odd. >> do you watch basketball

wives? >> i have seen in now and then. for a >> he is engaged to evelyn who has been engaged in antoine walker. i do not he would jump and a bed with those two but you do get to live with and chad are zero shows seem to go--chad ocho cinco. would you let a kron4 audience member live with you? >> no .... no. more courage >> of the 49er to open their exhibition season friday night. let us look ahead. howard--excuse me, i mean sambas living with chad our interest you? >> i could challenge him in action. >> the great sam is up

next. sis, help me create my oasis. ok, romantic garden? oh, is there a castle nearby? no, but there's a charming farmhouse. right next to my posh castle! i'm sensing a theme here. well, i am the queen, dear sister. get your annual ikea catalog today.

>> and yahoo sports and sports and the shredded radial for the new york times. >> next time you do your bio, new york times and kron. good for you though, but alex smith, should everyone to say here we go again, or do you think there is something positive ahead? >> i think there's something positive ahead. he took the entire summer time and led the offense. jim is a big believer in him. i would say to see what he has on friday. so far he looks good camp. if smith can not

get this done, can you see him starting this year at some point? >> he might have to the right now he is not ready. him as a great arm, he is not as well as he should be if he had the entire off- season learned, but inside as he learns from what is on the field he will be the next guy to come in. if smith does not work out not be surprised if it's the next guy in line. >> now controversial in some areas the skies to much trouble as much baggage, how you see this new receiver? >> he has been so good in terms of the media, teammates and coach. he knows jim from back when he played in michigan. so far so good. we will have to find out if he would get any loss playing time with this potential suspension. in addition will have to talk with the commissioner but so far he is and everything that he is to do. he looks healthy. we will see how he develops and his first game

on friday. sometimes they come up and have about 10 questions. now you can smell a good day he would give the good stuff. >> you could him on a bad day? her you have an answer for everything when you think about the economy? do you think the democrats or republicans, now? >> i hope so maybe like the nfl lockout, eventually it will all work out but we all need money we want money. >> how is your 401 k? >> it is getting there. >> it was nice to me you'll young fellow. it is nice to have someone enthusiastic. most of us in the media have

heard everything you are fresh and energetic and we hope to see you again. now sam, you tweet all the time. >> all the time. ♪

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charlie sheen, breaks his silence on ashton kutcher's first episode of "two and a half men." funeral? >> will he watch his own tv funeral? >> i'm kevin frazier. >> and i'm brooke anderson. >> "the insider" is on. >> i think ashton is going to kill it. >> did charlie and ashton have a secret meeting after the first episode taping? >> any plans to watch a new show? >> who's not going to watch? >> everyone is bracing again for a rough day. >> hollywood and the debt crisis. oprah, angelina jolie, justin timberlake, just a few names that could be losing millions. >> is late night crossing the line on this family disaster. >> the president took his family to the olive garden and his credit card got declined. >> travolta's scientology interview.