gary schlossberg for walls capital management is joining us. things are not as bad as it is today. >> same old same old in terms of what is driving it. >> we talked about how there was an unnamed bank in europe that had to go get money from the european central banks, 500 million, because it could not get a loan. there are 7000 of banks in europe. just one thing having to do this, is that fear or was that actually legitimate? >> the market is of course on edge. any news on like that, by the way a statement from the swedish official said the things there have to be on their toes. there is concern here. a front- page article on the wall street journal about of of your scrutinizing foreign banks. haugh hot >> what is using to take to calm investors? do we have to get the u.s. deal done in something in europe? some >> the first has to be done in europe. they have to get out in front of the problem. to keep falling behind. paul was a common today for a european official about the likelihood of european bonds being issued sometime in the not too dist

this morning with spoke with gary schlossberg the vice president of wells capital management on why stocks could be at a positive and this morning. >> it looks like we may be opening on a more positive note today. 1/2 early on the market was down substantially with ongoing concerns about what is going on in europe. the jobless claims numbers indicated that through it all the market continues to recover although very slowly. more on those more >> on those jobless claims numbers, unemployment rates fell below 400,000. a small sign that the job market is slowly improving. applications dropped by 7000. 395,000 americans filed for unemployment last >> as a developing story out of san francisco where there was a fire burning early this morning. we are live on the scene at masonic streak as a structure fire, about 70 firefighters showed up to fight the fire. jackie sissel is there live as they are cleaning up and doing the investigation. >> one of the fire trucks is still out here, for the most part of the fire is pretty much out to. but at 5:30 a.m. is when the initial call came belt. this was a

earlier this morning we spoke with gary schlossberg from wells capital management and ask him what the federal reserve can do to improve things. >> they could lower the rate they pay banks on interest for excess reserves have held at the fed. that could encourage 6 to land. they could be making statements about keeping their rates to near zero for a more extended period. they could be purchased in longer-term that federal reserve's statement will be out of 11:15 a.m.. >> oakland police are looking for who ever shot a three year- old boy in a drive-by shooting yesterday on international boulevard near sixty fourth avenue. someone in a car opened fire on two men who were walking down the street. the men suffered only minor injuries. the boy was with his family in he was hit by one of the bullets. he was killed in that shooting. will tran is joining us live from oakland with more on what police are doing to try to curb the violence. >> i am waiting to hear back from the public information officer, hopefully by now we might have a description of the shooter or shooters. in the meantime, th

this morning we spoke with gary schlossberg. >> i think it is really going to be more revolutionary thananything else. the u.s. is becoming relatively less important in the global economy. with that, you see more diversification. half >> it will not read a vehicle crashed into a power line it hit a power pole. pg&e crews are out there trying to fix it as fast as they can. this is on at naso valley road. it is a big commute road on the ride home. dick dick >> this city has a six in the delta airlines and load the truck. it could be hours before the road is open again. pg&e is finally here and about to get started on fixing the >> good news, much of the equipment and extra poles are on scene. kravchuk >> next week we do not see a lot of change coming our way it was otherwise. we will have your 7 day forecast coming up in a little bit. >> in a developing story out of the north bay, an armed robbery in santa rosa of an armored car business. jackie sissel is live on the scene with an update. >> some of the security cameras are out here in the parking lot at the warehouse for the armored car b

gary schlossberg for walls capital management is joining us. good morning. >> good morning. >> all eyes on europe. concerns about germany's growth. hawkebo-we had a pretty good run over the last couple of days. investors may have wanted to take a more cautious step. we made up most of the losses that we saw during the previous week after that credit downgrades. i think the market is still cautious about the outlook hot. wheat economy is still very there was a big jump in utilities. bonn box get kicked the dow was off 111. we will be right back as the kron 4 morning news continues. >> we are continuing to track a hot spot on the peninsula. the bayshore freeway, down 101 approaching highway 92. the back of is to third avenue. drive times are increasing of millbrae heading down towards a brittle it. right now the drive time is running at 15 minutes. it should be 12 >> a truck was traveling was down 92 on the southbound 101 and overturned. there are two lanes on the bayshore freeway better shut down. the connecting ramp from the san mateo bridge to

gary schlossberg is joining us from wells capital management. see what is happening in france, is that affecting the markets today? >> " is happening in france as a part of a larger concern. once that hits the banking system's there is a pullback and critic. we could see him mirror of what happened to thousand eight. that kind of destruction is not good news for the stock market. >> what you think about the argument that we see with treasury inseams concerns about the triple a credit rating of in france is of concern. canada says there downgrade is one of the best things that ever happened to them. >> it encourages discipline. i did not think we are out of the woods yet. hawks investors are still demanding treasury's because of what we call liquidity premiums. that is a key currency in world trade and finance, it is widely used. the benefits the dollar ended does not affect the credit downgrade. >> i have heard the countries that have been downgraded in the past, is to glimpse the years to get back to the aaa rating. >> it is very tough to resto

we spoke with gary schlossberg and ask him with the jobs report coming out for july tomorrow, what doesexpect and the difference it could make and market. >> we are looking for an increase somewhere between 50,000-100,000 workers. that, along with unemployment rate stuck at 9.2% and will reinforce the view that the economy it is really struggling to regain momentum. i would not say we are about to fall into a recession, not by any means, but the effort to pull ourselves out of that near flat lining in the first half of the year, the difficulty there will be underscored by the report tomorrow. at some point we expect to see investors coming in, take your advantage of some attractive prices. some of the temporary restraints will on wind. we will see conditions improved a bit but i do not think the employment report tomorrow will change things. by all accounts it will be another moderate rise. >> struggling economies in europe, italy and spain, that sent european stock down 3 percent earlier today. we also had weekly unemployment claims, this morning into those of basically are showing tha

. >> gary schlossberg, >> thank >> let's get all look at the weather heading into the weekend, hoping a little bit of sunshine. >> it looks like today will be pretty similar to yesterday's. here is a shot from the bay bridge approach. in oakland we will see temperatures rise into the upper 60s. partly cited conditions. they were getting up to about 75 degrees, partly cloudy conditions in the livermore could warm up a few degrees today getting into about 83. contract in terms of the fog it looks like we will see a good portion of the fog hanging on throughout much of the continue to see the fog over downtown san francisco and over the coast. in a little bit of lifting through the east bay. as we head towards the 8:00 p.m. hour the fog will rebuild. it will be another night with the fog in place. we could even see drizzle for tomorrow morning. temperatures in the '50s and '60s. in half moon bay, 10 degrees warmer. about 61 in livermore, concord, hayward and into fremont. by the afternoon, the warmer spots will get to 85. mid-70s throughout most of the day. 60's on the coast. it here is