we'll talk about that coming up. ,, ,,,,,,,,,,,,,, look at the big board. right now, they're _ tention >>> well, stocks taking another big dive this afternoon. here's a look at the big board right now. down 372 and change. attention is currently on europe where investors are worried italy and spain may be the next countries unable to repay their debts. we'll keep an eye on it. >>> back here in palo alto, an elementary school is once again the target in a burglary spree. just last week two suspects were arrested in connection with a theft of two laptops. this was from gunn high school. as stephanie chuang reports, police are stepping up their patrols. >> reporter: at this elementary school two weeks ago thieves broke through the school library window and took 10 apple laptops. the school boarded it up and over the weekend thieves came back and did it again, this time taking four digital cameras. >> that tells you they probably saw some property there that they didn't have an opportunity to steal the last time. >> reporter: sandra brown with palo alto police s

let's take a live look at the big board right now. opening down, dow industrials down 137 right now. opening bell rang a minute ago. obviously early, early trading. economy has different effects on bay area companies. headquartered a few miles away. this is tech reporter scott mcgrew in the newsroom with a tale of two silicon valley companies. good morning. >> good morning. yesterday's jump on the market was very good to cupertino. for a brief moment there it was home to the most valuable company in the world. apple beat out exxonmobil as the company with the world's biggest market capitalization north of $348 billion. you mentioned the tale of two companies. indeed this will beat the dickens out of you yahoo!'s overall value falling 91% since its all time highs. chronicle points out yahoo!'s investment in asia are worth more than yahoo! itself. you can buy the company for $14 billion and just get the u.s. yahoo! for free. let's go back to the apple news. the viewer asked me, in the world, are you sure? it does depend how you look at

let's go live to the big board to see how the dow is doing. you can see it is now down about 34 points. about 30 minutes ago the federal reserve said that it will keep interest rates near 0 for the next two years. it acknowledged the economy is weaker than previously thought. the fed hopes this move will help calm nervous investors but the dow is still down. >>> one bright spot to this stock market jitters, gas prices could soon drop. crude traders often look at stock prices as a barometer of overall have ever confidence. forecasters say the national average could fall as much as 35 cents a gallon in the next month. >> very small silver lining. >>> coming up, a full-blown political crisis in london. [ sirens ] >> measures being taken after three days of chaos and violence. >>> plus, a dog trapped in a hot car caught on tape. the scorching temperatures when rescuers arrived and what else they found inside that car. >>> hi, i'm meteorologist lawrence karnow in the cbs 5 weather center. the sun breaking out and those temperatures starting to soar

stocks >>> and yet another look at the big board this afternoon. down 424. and a little bit of change. some are calling it the crisis of confidence. stocks are down in a big way, though. and they've got a little over an hour left in trading. we can only hope it rebounds just a little. >>> thousands of verizon workers are on the picket lines again today. 45,000 employees went on strike yesterday after contract talks over concessions broke off. the workers say the demands are unfair given verizon's hefty profits. the walkout affects land line customers only. not verizon's 100 million wireless customers. >>> a turf war is growing between pedi-cabs here in san francisco. some local drivers say a san diego pedi-cab company started operating in town and they claim the company is overcharging passengers and not following san francisco rules and regulations. >> we have placed where we're supposed to be and places where we're not allowed and they're going everywhere. >> they're calling on san francisco officials to make the newly arrived pedi-cab drivers to get permit

here is a live look at the big board. as you can see, the dow is back below the 11,000 mark. this despite the federal reserve's recent affluentment promising to -- announcement promising to keep them low for two years. >>> now more about the drive-by shooting in oakland that killed a 3-year-old boy. jade hernandez tells us what investigators had to say. >> reporter: oakland police would not go on camera but they now say that an arrest made thought to be in connection with the drive-by shooting of 3- year-old carlos is now not connected. they say that this investigation is ongoing and rapidly developing which might explain who has been taken into custody up until it this -- up until this point. i spoke to a pittsburg police captain about the shooting death. the captain said two people had been arrested in pittsburg yesterday afternoon. in a knew development, the oakland police department reclosed a statement, clarifying one of those arrests -- "an arrest was made yesterday. however, it's not considered related to the shooting of carlos nava at this time. "we do know several wa

a live look at the big board.ight now. ♪ [ female announcer ] sweet honey taste. 80 calories per serving. 40% daily value of fiber. i'm here in the downtown area where the crowd is growing. [ female announcer ] watching calories at breakfast never tasted this sweet... i'll go get my bowl. [ female announcer ] ...or this huge. new fiber one 80 calories. yes, you can actually love breakfast. >> welcome back everyone. keeping our eyes on the big board. markets have been open about 12 minutes now. they started up, they remain up. not by a lot. 110 points as we speak right now. investors, employers any one with a 401(k) probably waking up nervous this morning after yesterday's huge market slide and now new job numbers came out just about an hour ago. tracie potts live in washington. are the numbers expected the make things better, worse or you think they make a difference at all? >> reporter: looks like at least so far they may be making things better. this jobs report from july was way better than economists predicted

future of the big board at the new york stock exchange. you can see right now the dow is up 110 points. the stock market is rebounding from yesterday's plunge of more than 600 points right now. remaining under the 11,000 mark. good morning. i'm kristen sze. >> i'm cheryl jennings. federal reserve meets in a few minute and economists hope they will announce more help for the troubled economy. >> eric thomas is live in the newsroom with more. >> the market is waiting to hear from chairman ben bernanke if the federal reserve will use the few tools it has left to boost a slowing economy. among them, a firm commitment to keeping interest rates near zero. a potential third round of buying and holing on to treasury bonds. >> when the opening bell rang this morning on the san francisco floor of the new york stock exchange, traders had their fingers crossed. >> traders are optimistic after so much selling that we could have an up day. >> the selling peaked with a 634-point drop on the dow yesterday. in response to the downgrade of america's credit

taking you live to the big board. currently up 124 points. it had been up for most of the warning, took a dip after the federal reserve made its announcement about keeping interest rates low. it's since ramlied, 126 points. as for the nasdaq, it's 45. >>> apple lurched past exxonmobil as the world's largest publicly traded company. during the earlier rally, apple gained ground. exxon dropped. but they rose past apple again once the rally subsided. the two are next and neck right now. >>> stanford researchers have now, more accurate guidelines on a heart test for young athletes. there's been controversy on whether an electrocardiogram is accurate enough to detect heart problems that could save the life of teenagers. stanford researchers say the new guidelines will eliminate the number of false positives. >>> and that's donna -- gonna do it for us on the noon news. we'll continue to follow the market and have much more coming up at 5:00. until then, have a great day. charming farmhouse. right next to my posh castle! i'm sensing a theme here. we

that -- that could mean more homes for pets that need adoptions. >>> take another live look at the big board upon wall street. stocks are at the lows. big concerns about europe banks right now, also a string of weak u.s. economic reports coming out, spanning worries about waning global growth. hewlett-packard has just announced it will end the tablet computing and smartphone businesses. we reported earlier, they may be buying the software company, atonomy for $10 billion. their stock is down 3%. the dui is down 485. nasdaq down 181. s&p down 60. >>> thieves are stealing newspapers from driveways, especially sundays, and by the dozens -- by the dozens. they are looking for coupons. officials say it's because of the tv shows for couponing. >>> the city's animal care and control unit will partner with pet food express, separate from the shelter. it will showcase the animals at the market street store. the program encourages animals to be adopted a discount race. >>> coming up on the special edition of the news at 4:00 p.m., we are live in san rafael where the hoe -- where the hotel standoff has

taking a live look at the big board right now. the dow is currently down 369 points. at one point this morning, it was down over 1200. it's on track for the biggest one-day drop since october of 2008. the nasdaq is also down 97 right now. s&p is down 42. in fact, the s&p 500 has dropped into correction territory down over 10% from its high on may 2nd. one of the triggers of today's selloff was this morning's report that new jobless claims were down slightly to 400,000. but a more healthy level would be at 375,000. and continuing jobless claims were up by 10,000 to 3.73 million. in addition to the hiring concerns, there's also been worry about weakness and manufacturing and consumer spending. >>> tens of thousands of -- tens of thousands of outsource jobs could return to the u.s. the government has just announced a plan to create 100,000 new jobs. they will mainly be jobs at call centers. some are outsourced to india and the philippines but will come back to broadband yard vancements. thed ftc hopes the -- the ftc hopes the jobs will be created the next two years. >>>

let's take a look though, now at the big board. yes, i'm happy to tell you it's in positive territory. the dow up 47 points. as you know, that will change. we were up about 150 points earlier until the fed came out and released this multiple paragraph statement, essentially warning of the risk to the economic recovery. let's go to harrisburg, p.a. i'm sure his name is familiar and his face as well. neil stand by for me. perhaps you remember he was the guy, he ran the bank bailout, tarp, $700 billion, had to defend that bailout from an often hostile congress and a skeptical american people. knows a thing or two about high finance. he's managing director for pem koe. neil, good to have you on. i'm sure you've seen the fed statement. they expect a slower recovery. i'm quoting here, part of the statement, talking about a downside risk to the economic outlook have increased. also signaling that it plans to keep interest rates very low, zero to quarter percent through 2013. given the fact that the rates are at rock bottom pretty much, wh

live at the big board -- the dow is down 344 points right now.watching it go down steadily throughout the morning and wee will keep an eye -- and we'll keep an eye on it throughout the day. the diamondbacks has fallen 3%. the british and french marks -- the dax has fallen 3%. the british and french market the have been down. the european central bank announced it would buy bonds in support of italy and spain. >>> and the blame game is happening all over the place for who is responsible for s&p's downgrading of the credit rating. coming up we'll brick you a live report -- bring you a live report in our washington, d.c. room and we just got word that president obama will make a statement about all of this coming up at 10:00 our time. stay with us. >>> we're just coming up on 8:00, the announcement is expected in just about 60 minutes. ed lee is expected to officially declare he's running for a full four-year term. allie rasmus is live at city hall this morning. outside with what we can expect -- this moving outside with what we can expect. >> repor

taking a live look at the big board, the dow is down 101, down to 11,381. >>> more trouble for pg&e over the safety of its pipelines. a federal report released yesterday shows the company did not provide key documents on the san bruno pipeline that exploded last september. the national transportation safety board says the missing documents include logbooks inspection records and m rey reports. investigators also say pg&e used bad or nonexistent data to try to show the pipeline was safe. >>> ahead -- a sad development involving a whale we've been covering in the klamath river. >>> mose marry is up next to -- rosemary is up next to tell us if the warming trend will continue. >>> police want to spend $300,000 for six of these. >>> scientists will perform a necropsy on a grey whale after beaching herself on a sandbar. the wind chill and her calf entered the area in -- the whale and her calf entered the area and the calf was seen swimming back out to see last month. >> the mother has drawn big crowds. researchers say her fat layer books good so -- layer looks good so she probably didn't starv

future of the big board at the new york stock exchange. you can see right now the dow is up 110 points. the stock market is rebounding from yesterday's plunge of more than 600 points right now. remaining under the 11,000 mark. good morning. i'm kristen sze. >> i'm cheryl jennings. federal reserve meets in a few minute and economists hope they will announce more help for the troubled economy. >> eric thomas is live in the newsroom with more. >> the market is waiting to hear from chairman ben bernanke if the federal reserve will use the few tools it has left to boost a slowing economy. among them, a firm commitment to keeping interest rates near zero. a potential third round of buying and holing on to treasury bonds. >> when the opening bell rang this morning on the san francisco floor of the new york stock exchange, traders had their fingers crossed. >> traders are optimistic after so much selling that we could have an up day. >> the selling peaked with a 634-point drop on the dow yesterday. in response to the downgrade of america's credit

volume was heavier, with 1.3 billion sharesinhe big board and 2.6 billion on the nasdaq. >> suzanne: investors big and small have had their confidence shaken by the down-to-the-wire debt deal in washington. market pros say investors are simply out of optimism. earlier today, i spoke with two n.y.s.e. veterans and what they had to say was troubling. >> the stock market is a forward-looking mechanism and, as such, perception is everything. and, i think people are just disgusted and fed up for whatever the reasons and they just want out. and, they'll just sit on the sidelines and wait for the dust to settle. >> suzanne: long-time n.y.s.e. broker ted weisberg says politicians may be licking their wounds in washington over the deficit debacle, but here at the big board, traders can't sugarcoat the damage done in the last month to america's reputation. >> it's the process, the message, it's the lack of confidence, it's the negative circus environment that was created. not just for those of us who live in the u.s., but for the whole world to see. our skirts were lifted and the world did not

as for volume, another day of heavy trading: almost two billion shares on the big board; over three billion on the nasdaq. but despite the upbeat mood, investors still have a list of worries, from the possibility of a recession to political squabbling in washington. another big worry-- problems with european banks. and as erika miller reports, that could pressure american markets for quite a while. >> reporter: most american's don't give much thought to french banks. after all, they're not on u.s. street corners offering retail banking. but as international strategist paul christopher explains, problems in france would quickly have ripple effects here. >> it's a series of dominoes, really. if the french banks get in trouble, and lets say the french government is downgraded and its borrowing costs go up, then it's more expensive for the french government to support the french banks. >> reporter: that's just the beginning. assuming france cannot fix its own problems, it would likely ask the european union for a bailout. that, in turn, could lead to consumer confidence, weakening declines in b

just over one billion on the big board and under two billion on the nasdaq. >> susie: two of the world's biggest oil company's are teaming up to drill in the acrtic circle. exxon mobil and rosneft, russia's big state-owned oil company, will work together to develop offshore oil fields in the russian arctic. it's one of the globe's last regions with immense and untapped hydrocarbon deposits. as part of the $3 billion joint venture, rosneft will get access to some exxon projects in the gulf of mexico. rosneft needed a partner for the arctic because it does not have its own deep sea drilling technology. it tried to strike a similar deal with b.p. earlier this year, but that fell through. >> tom: exxon mobil is a direct descendant of john d. rockefeller's standard oil company. rockefeller began as an entrepreneur who built an empire. many immigrants are trying to follow in those footsteps. many of the biggest u.s. brands, including apple, google, at&t , ebay, general electric, i.b.m. and mcdonald's owe their origin to a founder who was an immigrant or the child of an immigrant. one businessm

inside the exchange, the big board staff is preparing for the storm, but hoping for the best. lou pastina, n.y.s.e.'s head of floor operations, is hopeful the exchange will open for business as usual on monday morning. >> we'd like to ring that bell over there. >> susie: a final decision will be made over the weekend. art cashin, director of floor operations, at u.b.s. is impressed by the level of preparedness. >> it's better to be prepared than to be fooled. i'd be very happy to have a laugh on ourselves and a sigh of relief. >> susie: the new york mercantile exchange, or nymex, is just a few blocks from the n.y.s.e. it's making contingency plans in case of flooding. the all-electronic nasdaq stock market is further away and plans to open as normal next week. in an unprecedented move, new york city's mayor has ordered 300,000 residents living in low- lying coastal areas throughout the city to evacuate. he's also shutting down mass transit tomorrow afternoon. >> nature is a force more powerful than any of us. it's better to be safe than sorry. >> susie: in addition to wind and

on the big board, 2.1 billion shares were traded, and 3.3 billion on the nasdaq. so where do stocks go from here? suzanne pratt reports. >> reporter: on wall street these days, what goes down must go up. and down. and up. and so on. experts say vertigo is the new normal for stock investors, and that's unlikely to change until there's clarity on the global economy. today's worry? france and its biggest bank, societe generale. there's concern s&p will downgrade the bank, too. as a result, financial stocks in the u.s. led the selloff as investors fretted trouble with europe's banks could spill across the pond. n.y.s.e. floor broker doreen mogavero says sentiment is very negative. >> there's really no panic. we've seen no panic here at all. it's been very orderly, but, i think people are really reassessing their positions in the market. >> reporter: so what's an investor to do in this frightening and volatile trading environment? experts say that depends on the strength of their stomach, also known as risk tolerance. market strategist mike ryan says most investors sho

here's the big board that we're following right now. and we're going to bring in scott mcgrew later, talk about reaction to this, what this means for silicon valley, and for the economy around the world. so of course we'll be following this throughout the newscast. >> actually, let's bring in scott now. >> sure. >> you're with us here -- >> hi, raj. >> it's amazing what we're seeing here. i told your partner in terms of scott budman, of course we knew this of coming. >> absolutely. >> steve jobs -- it's emblematic of the bay area, silicon valley. born and raised in san francisco, went to homestead high school in the south bay, started this from the garage with steve wozniak in loss altos. so much a part of our fabric and culture in the bay area, across the world, as well. >> i think even steve himself would say, yes, i am a symbol, and that it's a good time to step down from apple. yes, it did catch us all offguard, but what a great time. keep in mind just a couple of days ago, apple became the most powerful and -- and most valuable com

a live look at the big board. we are about a half hour away from the opening bell. investors anxious after yesterday's massive sell-off. the the dow falling more than 500 points to below 7,000. the roller coaster ride in the u.s. being felt around the world. european markets continue to fluctuate. stocks fell in hong kong and japan but rose in china. we'll continue to keep an eye on things and have a live report at 6:30. >> breaking news out of san francisco, firefighters racing to put out a fire happening at a business on masonic avenue. christie smith is live on the scene. >> reporter: good morning. i have to tell you, we can still smell smoke but it's a huge improvement from when we first arrived here. firefighters got the call about about 5:00 a.m. of a fire that was burning on masonic street. you see a ladder on that end. when they got on the roof they discovered it was burning midway down the street there on hate. it turns out this fire appears to be burning in an apparel shop. i spoke with a battalion chief who says it then spread to a business next door. all

. >> suzanne: tom, an upsetting day of dramatic selling here at the big board on extremely heavy volume. the dow lost a stunning 634 points, or 5.5%. it now trades below 11,000. the nasdaq lost 174 points, or almost 7%, and the s&p 500 tumbled almost 80 points. trading volume the second heaviest we've seen this year-- 2.5 billion shares here at the n.y.s.e. and just below four billion shares on the nasdaq. >> tom: as for the debt downgrade, for the first time since standard & poor's first rated u.s. credit triple a in 1941, it has been cut to double a plus. the agency cites the inability of congress and president obama to do more to shrink the government's budget deficit. >> suzanne: stocks nosedived as investors reacted to s&p's downgrade of american debt. but even though the ratings agency believes treasuries are becoming more risky, investors rushed to safety there, pushing yields lower, and they bought gold like never before, sending the yellow metal to new highs. erika miller has more on today's market action. >> reporter: outside the new york stock exchange, reporters, tourists an

actually don't see the big board now. it was last down 100 points in less than 90 seconds. we know to expect wild swings. that's been the story the last couple of weeks. the week earlier this week, it did stabilize it seemed for a little bit. of course, yesterday that dashed all hopes. so we'll have to see how it ends today, grace. we're crossing our fingers, of course. >> doesn't look good, down 90 right now. stephanie chuang in san francisco, thank you for the latest. >>> time now 6:33. thieves are seeing it as a gold rush. police are warning it is a crime spree. record gold prices are drawing the wrong kind of attention for some women in the east bay. anne makovec in oakland with word on some brazen robberies that have been going down. she joins us with more. >> reporter: brazen is right. people are ripping necklaces off people's necks to get the gold, which is at an all-time high. this is one of the hot spots, the fruitvale bart station. police are trying to warn people before they become victims. the gold prices right now are all-time high more than $1,800 an ounce. th

a live look at the big board on wall street right now. we can see that a lot of the gains we picked up yesterday we're giving back today. the dow is currently off 290 points, give or take. jane king will join us live with the latest on the markets. coming up. >> also, finally, speaking out, what one of arnold schwarzenegger's daughters has to say and what she did after learning about her father's love child. >> selling more than medicine. the unusual item that will soon be for sale at walgreens. ah yes. there it is. the "mystery spot". not a mammal in this household is willing to lay claim to its origin. we may never know. let that sink in, people. we may never know. but now? now is not the time for blame. now is the time for action. ♪call 1-800-steemer @@úp@ ♪ ♪ free access to chase atm's wherever you are. that's a step forward. chase customers can avoid atm fees with over 16,000 nationwide. take a step forward and chase what matters. >>> welcome back. 6:45 on wednesday. look how quiet live doppler7 h.d. is. high pressure dominating the

all eyes expected to be glued on that big board. and stephanie trong joins us from the newsroom to explain how the rough trading has started overseas. >> good morning. we have nervous investors here. they're preparing for the first full day of trading on u.s. stock markets. and since standard and poor's cut the nation's credit rating, stripping away that coveted aaa title. the impact was definitely felt overseas. and in asia, the markets took a big hit again today. and the major exchanges in south korea and in china. each closed down 3.8%. and meantime, japan's nikeii and hong kong heck seng both fell about 2.2%. here in the u.s., the dow and s&p futures fell an average of 2%. signaling a sharply lower open. this follow the u.s. market's worst wake since 2008. some market analysts say had is just the initial shock and that the downgrade will not hurt the numbers in the long run. >> the good news about the downgrade, if you can see any good news in it, is that it will focus the mind, of policy makers to deal with the long term proble

anything better than expected could help the markets but i will have a live look at the big board. 000 but they have seen a big pop on the opening and down a little bit shortly there after so we will continue to watch what happened after the federal reserve and again they will relies -- release a statement at 11:15. gold up more than 23% since the beginning of the year so if you bought gold congratulations. right now it is one of the few commodities -- commodity tis seen for manufactured goods. >>> the only thing plunging on wall street, oil prices kind dropping. gas prices are likely to fall now with its lowest price in more than eight months. the reason fears over the double dip recession and downgrading by standard importers. >>> how a national organization came to a conclusion? >>> northbound 280 traffic is getting busier, approaching highway 17 and we will tell you more. dear sister. , i am the queen, get your annual ikea catalog today. . >>> welcome back to the morning news, still up, 10927, we'll see if it can hold to the federal announcement. >>> san francisco man convicted

that number that we get at 8:30 tomorrow eastern will absolutely affect the numbers we see on the big board. >> well, i think so. well, what we would all look to see, not so much because it helps the stock market, but because it helps the folks that need jobs, we would like to see a positive job number and positive number that basically comes in well above guest estimates, if you will. unfortunately nobody has a crystal ball, and we'll just have to wait and see. we had an adp number earlier in the week that showed relatively positive gains, but there's not necessarily a connection between the adp number and the number out of washington. the big risk is that the number comes in below expectations, if not dramatically below expectations. that clearly will add, at least for the beginning of the trading day, should a add some negative fuel to the fire we experienced today. >> teddy, are you a father? do you have children? >> i sure do. and i have grandchildren. both my -- >> and grandchildren as well. so what do you tell -- when your son or daughter calls you up and says, dad, what do i do with

right now, you can see from the live picture of the big board it's down 329 points. the big selloff reflecting investor worries that the u.s. economy may be heading back in to a recession. good morning. i'm kristen sze. >> i'm eric thomas. combination of factors ranging from debt to jobs to troubles in europe are triggering the largest losses in the key index since last summer. abc7's amy hollyfield is live in redwood city with explanation and reaction. amy? >> reporter: we just interviewed a financial advisor who told us his heart skipped a beat when he saw the dow jones this morning. if you saw gains in your portfolio at the beginning of this year, you probably have lost them by now. they're probably gone. wall street continues to worry about the economic weakness in the u.s. and in europe. the latest sign of weakness is the number of people filing for unemployment. the report from the labor department today showed that the job market remains stagnant. the fear, though, is that the recession is going to have two waves. >> i would say that this is definitely showing

before we go, take a last look at the big board, the dow jones average.ay down, 534 points right now. update you on all of the day's activities there at abc7 news at 4:00, 5:00, 6:00. >> below 11,000 mark and falling. thank you for joining us on abc7 news. >> "who wants to be a millionaire" is up next. >> have a great day. i'm a dancer. and until now, my feet showed it. [ female announcer ] gold bond ultimate healing foot cream. 7 penetrating moisturizers and vitamins, 'cause foot skin's 20 times thicker. this stuff really works.

taking a live look at the big board. check it out. the numbers have turned around and are -- and are now in positive territory. the dow is up 75 after initially being down in early trading this morning. ail little rasmus is live in san francisco with more on the ongoing volatility. good morning. >> reporter: good morning. the dow started the morning in negative territory but never by very much. nothing close to the vol lylte that we saw yesterday that led to the 419-point drop in the dow. we were just inside the training floor of the san francisco office of the new york stock exchanges. things seemed pretty calm. there are no economic reports to be released today, unlike yesterday where we had the negative reports of inflakes and unemployment claims going -- inflakes and unedge employment claims going up. in this case, they say no news is good news. >> i think we could be here about three weeks. we have two weeks until labor day. so that's a heavy -- a lot of people are out. not a lot of news is gonna be come out. >> reporter: the onl

. >> before we go to break, a live look at the big board.he dow has come back a bit from the opening lows and is down 64 points. >> ahe, the new obama administration immigration policy and why some aren't buying it. >> job cuts from one of the nation biggest bank. >> plus, a royal visitor about to make his way to the golden state. ♪ ♪ free access to chase atm's wherever you are. that's a step forward. chase customers can avoid atm fees with over 16,000 nationwide. take a step forward and chase what matters. >>> 6:43 on friday. it's quiet as far as the live doppler7 h.d. across the state. 95 in fresno. big sur will see more clouds with 73 degrees today. heading to the sierra near 80 with sunshine in tahoe. near 90 in yosemite. cloudy morning followed by sunny afternoons, l.a., 70s. low 70s in san diego. >> thanks a lot. obama administration announced a change in policy for thousands of illegal immigrants going through the deportation proceedings. now they may stay in the country. lilian kim? >> anna isn't giving us her last name because she i

this is a live picture of the big board. how investors are in a buying mood. flight the dow is up 339 points. >>> good morning. i'm kristen sze. >> and i'm cheryl jennings. scott goldberg has more. >> reporter: the dow opened with cautious optimism up over 200 points one day after taking a 519-point plunge to the gut. >> there is news about europe, there is a country involved that is getting bigger and bigger. >> the nagging rumors that france could lose its triple "a" credited rating. gold keeps shooting to new record highs. it's worth more than platinum at $1800 an ounce. sandra traded for old jewelry for $700 cash. >> i thought it would get 150. >> most of the excitement has been of the stomach churning variety. in the last three days we watched the rollercoaster markets sink more than 6700 points, shoot backs and then let gravity take over again. so far the ride has wiped out more than two trillion dollars of investors' wealth. >> it's not a full-blown panic yet. it could get there. they are not throwing things out the window quite yet. >> but first, there

live on the big board, 134 down below 850. nasdaq is down 30 and s&p 500 is down 13. even though the dow jones industrial average is in negative territory it's still better than the 415 point drop. they are not expecting a volatile day today. >> prices will get to the weekend and we will reassess. it really does feel like after a lot of volatility, people can't do it anymore. all the people who had the fear have gotten out. >> yesterday's market drop came own the heels of several reports inflation rose weekly unemployment came up and the debt crisis continues. now investigators are hoping for help and the federal reserve is meeting in jackson hole wyoming next weekend. >>> overnight the world's largest bank is planning 3500 layoffs by the end of this quarter and as many as 10,000 as part of a restructuring plan. that is more than 3% of its workforce and the jobs are spread across all divisions of the bank and its stock is down 2%. >>> we are learning the federal government is providing emergency funding to dozens of states to keep unemployment checks from bouncing. wi

the federal reserve chair is set speak on f >>> let's get live look at the big board. points. this is two days in a row that we have seen this. it did dip slightly right after that 5.9 earthquake. but in the meantime the federal reserve chair is set to speak on friday. a lot of people watching for that and he could announce additional measures to stimulate the economy. so we'll keep you informed. >>> starting today you have more rights as an air traveler. a series of new federal rules are in effect among them passengers bumped from flights and arriving late get double the price of their tickets back up to $650. airlines will refund checked bag fees for lost bags and they will include all government taxes and fees in their advertised fares. >>> and this morning a new york city judge ordered the dismissal of all criminal charges against dominique strauss-kahn. a state appeals court later denied a motion to appoint a special prosecutor in the sexual assault case. the credibility of strauss- kahn's accuser had diminished in the months since his may arrest. the former head

meantime, we leave you with another picture of the live big board there.down 348 points op worr >>> good morning, america. and this morning, chilling new details about one teenager's plot to take down his school. the massacre he spent months planning and the tip that may have stopped an attack even worse than columbine.

we are looking at a live look at the big board. it was up more than 100 points.ng back and i'm just looking on my screen this is a live look at the big board. so they are right. dow jones up 36 points right now. i will tell you there is a little bit of a bright spot this morning that i just was looking around to see if what the strategist the analysts are saying and the survey of banks the benchmark measure s & p 500 they expect it to rally for the rest of year. we will see if they are right. >>> time now 6:53. a year ago today 33 chilean miners were trapped under ground. has life been better or worse since they have been rescued? >>> and -- there it is. a deafening blast of lightning. where it hit and how that situation could have been worse. >>> you've got to see and hear this. lightning almost hits a tv news camera and camera man in colorado. >> all right i'm done. >> did you hear that? he says i'm done. now that lightning almost hit him and his camera. all this happening when the camera man was out filming bad weather and heavy rain. boy did he do that. that

live look at the big board shows the upswing on the news. dow is up 176 points. >>> the white house has denounced a position each republican candidate put out. they said they would refuse to support a budget deal with any tax increases even if spending cuts outweighed those increases. all the candidates but the exchange between michele bachmann and pawlenty attacked each other. >> you said the era of small government is over. that sound like barack obama. >> she has a record of making false statements, that is not example of that. >> it appears the gop field will get crowded more tomorrow when rick perry joins the race. >>> nearly every bay area transit agency is seen a steady increase in riders on. caltrain ridership is up 12%. bart has seen an increase of 8%. ridership on the valley transportation authority bus and light rate service in the south bay has increased more than 7%. experts say high gas prices are the largest reason for the transit increase but higher bridge tolls are also playing a roll. only a.c. transit reported a decline. b

the big board right now. the dow is down 46 points already this morning.e'll be watching it throughout the day. >>> a san ramon man in police custody after a long standoff with police that ended around midnight. police say steven sanoff junior has been booked into jail on charges of elder abuse and battery. >>> with millions of americans out of a job millions -- states are running out of money. the federal has been bailing out the states including california with very special loans. california by the way has received the largest payout. >>> a house fire in oakland turned fatal overnight. ktvu kraig debro talked to firefighters who responded to the fire and tells us where they think this fire started. >> reporter: good morning, pam. the firefighters responded to this blaze not too far from here. we're add station 20 at international and 98th. this fire began at 9:00 last night. i just talked to the fire department and the firefighters a few minutes ago. they tell me they think it started in the fireplace. this is one person living in the home. they describe