here is jason brooks. >> some real whip saw action on the market today. we had an incredible come back. down 100 points. a 900 point come back. now a potential record single day drop. which is 777 points by the dow. of course you can't really compare the two. they're not even in the sense that today's percentage drop is not nearly as bad as the one from six years ago that occurred. the stock market simply got frothy over the past seven years. tech stocks have gotten slammed. apple stock fell below $100. then it roared back as buyers jumped in thinking that the world's biggest brand is worth much more than that. that helped lift the stock market back. but now apple is sinking. and that's taking the blue chips with it. intel fairing better. the semiconductor has been slaughtered the past three sessions a lot of uncertainty out there. >> apparently that will continue for the next 60 minutes we have in trading. it's still fairly chaotic. >> the last 60 minutes are usually the most chaotic. we could see anything in this amount of tame. another big come back or

back to you. >> thank you, jason brooks from kcbs news. >>> gianna, how's traffic doing?usy this morning. give yourself extra minutes as you head out this morning. slow-and-go conditions continue on the nimitz freeway. we had double trouble on the southbound side of 880. we had one accident near fremont another one near hayward. so you can see traffic still slow. 37 minutes south 880, 238, 284 so it is improving about 15 to 20 minutes there but still sluggish. westbound 80 slow-and-go as you work your way out of berkeley towards the bay bridge. you can see delays on the bay bridge, as well. 31 minutes now westbound 80 carquinez bridge to the maze. backed up into the maze. 580 your approaches to the bay bridge struggling this morning. daly city brand-new accident to report northbound 1 at 280 vehicle spun out off to the side. foggy there. so limited visibility. westbound highway 4 at somersville, sluggish off the antioch bridge westbound through there. the altamont pass finally that big rig at grant line is cleared out of lanes. sluggish westbound 580 into the livermore va

kcbs radio's financial reporter jason brooks will join us in a few minutes to break down what we mayee the rest of the day. >>> a suspected drunk driver in custody after allegedly killing a pedestrian in fremont. police say just before 9:00 last night a car traveling on fremont boulevard hit a woman in her 30s near nicolette avenue. she was apparently outside of the crosswalk. the man behind the wheel stopped and was arrested by police for dui. >>> also new this morning one person rushed to the hospital after a fire in the mission district. firefighters were called to a building on shotwell street late last night. when they got there they found flames shooting out of the third floor. the fire spread to another building before crews got it under control. one person is being treated for smoke inhalation. >>> 6:31 on your tuesday morning. today san jose city council is expected to approve a plan that will finally end the dispute between the city and its public safety workers. kpix 5 reporter kiet do is live in san jose this morning with more on the agreement expected to save the city ov

we'll take a look at all of this in vast detail with kcbs radio's financial reporter jason brooks. >> morning, 6:43. these temperatures especially in san francisco and oakland averaging 11 degrees above normal today. let's pinpoint your neighborhood. check out the beaches in the 70s approaching 80 degrees. it's going to be hot around the peninsula all the way to 92 in redwood city. 104 gilroy. triple digits east of the bay. brentwood danville pleasanton. also in blackhawk. north bay numbers stacking up in the high 60s in stinson beach . >> it's now 17 minutes before 7:00. time now for a look at what's coming up later on "cbs this morning." >> norah o'donnell joins us from new york. >> good morning. >> good morning to you, brian. we are in virginia remember the victims of the deadly attack on a news crew. we are going to talk with friends of the victims. more on the shooter motives. then chris christie will be here in studio 57. the news is back in the morning. so we'll see you guys in just a few minutes at 7:00. >> thank you. >>> early indications point to another rebound if the stock

we'll in about 10 minutes check in with jason brooks from kcbs news who will help us break down whatmay see for thers are of the day. >>> later this morning the mayor of san jose will make a historic announcement at mineta san jose airport t reportedly will involve the first-ever nonstop service to an international destination that is in high demand by travelers in silicon valley. the big announcement happens at the airport in about three hours. >>> some bay area commuters are soon going to have a faster ride to work. that's because new ferry service are being added. the funding was approved earlier this week. three new boats will be added a day to help win creased ridership -- with increased ridership. >>> commuters in san francisco spent 77 hours in traffic last week according to texas a & m. commuters in washington, dc had the longest delays, los angeles second worst, followed by san francisco. san jose had the fifth heaviest traffic in the nation. overall, cities with fast growing economies and strong job growth tend to have the worst traffic. >>> a new pension deal is on the tab

. >> we'll have more with jason brooks just in a few minutes. >> get to weather, lets do that. let's get an update on what the day looks like. >> it's going to be a busy day out there. it's the first day of school for a couple of bay area school districts. as you head out the door maybe a light sweater or jacket for the kids sending them off to school this morning. gray skies, but mild temperatures, 50 degrees in concord right now. 63 oakland, 61 livermore, 61 in san francisco and 63 your current temperature in san jose, gray skies to start off the day. we will see sunshine later on. in fact temperatures today especially inland warmer than what we saw yesterday. sunshine for most, a little warmer. we'll have your full forecast in just a bit. first how is that back to school commute. >> it's a busy one. i cracked the mystery. we've been wondering why delays were extra -- late running road work westbound 80 near hercules. that whole section one lane is taken away which causes a big problem for the morning commute. westbound heavily traveled monday through friday from 6 to 9 a.m.

jason brooks from kcbs news reports. >>> good morning.the month of july as private payroll tracker adp says there was a gain of 185,000 jobs. that was off the pace of what we saw in july. manufacture and construction on the rise a good sign for home building on the pickup over the past several months. economists are expecting the labor department to have a gain of 225,000 jobs on friday one employment rate steady at 5.3%. tesla reports its 2nd quarter earnings at the closing bell today and investors and analysts will be closely watching for whether or not tesla is on pace to hit elon musk's stated goal of 55,000 deliveries this year. and the model x crossover is expected to help them reach the goals. apple is sliding and it's down again this morning after a stock rating downgrade from a bank of america analyst who thinks there will be a lot of pressure on apple stock in the near term and iphone sales slow down from their meteoric rise over the past year. apple has lost more than $100 billion in market value since its hit a high in februar

. >> here now kcbs radio's financial reporter jason brooks. good morning jason. >> good morning.he undisputed king of corporate america has a rock solid brands name and reputation, however there's a bit of trouble there. the company's stock has really been on the downward side of things over the past few months. in fact since it joined the dow in late march the stock is down over 7% and now 10% lower than its all time high. that's entering into correction territory. this despite the company reaping record profits over the past year and topping expectations and the recent quarter but not enough for investors, but apple has a lot of exposure to the overall direction of the stock market. now not only the dow but also 14% of the nasdaq. it's got that much of a waiting on the nasdaq and 4% on the s&p 500. where apple goes, the overall stock market has a tendency to follow and shares down another 2% this morning. >>> oil prices have been sliding again. another big drop yesterday down to about $45 that continues to weigh on the big oil friends like chevron and exson each cutting costs t

jason brooks from kcbs news, thank you. >>> 6:48. gianna?ng the roads right now, it's starting to get busier as your morning commute heats up just a bit. bay bridge metering lights remain on backed up into the maze at this point. still doing okay though off the eastshore freeway commute. getting reports of a car fire southbound 680 south main street. it's off to the right shoulder. but starting to see some delays on that southbound ride as you work your way through walnut creek. 24, a little sluggish westbound near caldecott tunnel. checking westbound 580, looking a bit better at the 680 merge. but road closures in effect in and around livermore for the "tesla fire." tesla road is closed corral hollow, as well. so a lot of folks not able to use those back roads making it extra busy through 580 westbound out of the altamont pass as well as coming out of tracy on that westbound side so give yourself some extra time. there's a fire at mare island that we have been reporting on so it's causing spectator slowing on that westbound side of 37. mobi

here's kcbs radio's financial reporter jason brooks. >> reporter: good morning. happy friday.conomy from the labor department with a gain of 215,000 jobs in july in line with economists' expectations unemployment rate a seven year low staying steady. wages up modestly but going in the right direction. in keeping with its report is that it's good enough where most analysts believe it will compel the federal reserve to raise interest rates at its next meeting in september. several members of the fed have indicated it would take a major derailment by the economy to prevent that first rate hike from taking place. it's been a brutal two weeks for tech companies based off their earnings reports even apple, facebook, linked in testla, all topped expectations but shares fell big time off the results. that streak could be broken today as nvidia and zynga are doing very well. nvidia sold more chips although the market is week but its graphic chips popular with game consoles. and zynga despite seeing fewer people playing its games compared to a year ago more people spent money on its slo

. >>> we asked kcbs radio's financial reporter jason brooks what's happening on wall street. >> china is once again weighing on u.s. stocks. beijing is taking a number of moves to try and revive its stumbling stock market and boost its weakening economy. this includes deval ewing the wun its currency two straight days. this is after a number of other moves. what i de-valuing the currency will help businesses overseas it has a direct impact on u.s. businesses in china. their goods and services will be more expensive. apple saw its stock on tuesday, for instance, plummet by 5%. apple's iphone sales to china over the past year having absolutely booming leading to record profits. analysts say the key with china is long term. so long as the country does continue to improve, it will be a good place for u.s. businesses but in the short term, it could be a rocky ride. >> thank you, jason. google stock is sliding today after big gains this week spurred by its alphabet announcement. >>> meanwhile, apple is helping a small company with its latest invention. looks cool, too. nivea makes a water c

let's check with kcbs radio's financial reporter jason brooks. what's going on? >> it's another brutal day. it's going to be ugly when you look at your 401(k) report when it comes out. especially if most of your investment is in equities. just another sell-off of the stock market. investors really focused on china. china has been a huge growth engine for the global economy in recent years. but its stock market has been tanking much worse than on wall street now over the past three months the economy slowing down, number of moves by beijing not doing enough. and now that's coming here. stocks are expensive during a bull run that lessed more six years. will the feds raise or not raise rates? when you have a lot of uncertainty and volatility investors are selling. that's what we are seeing today with the dow and nasdaq pretty much in correction territory at this point. >> i guess the big question now is it panic time? are being going to be selling? >> reporter: hopefully not panic. corrections are normal for the stock market especially when you have been going up fo

. >> here now kcbs radio's financial reporter jason brooks. good morning jason. >> good morning. very tepid spending by continue super heading into the summer. the commerce department reports that consumer spending of just .2% up in the month of june. that was the weakest gain since february. and it came despite a decent rise in incomes. they were up by .4%. that was the third straight month that they rose at that level. >>> now there's some hope that perhaps july will see a bit more of a stronger gain from consumers. as autosales were a little weaker in june but so far we're getting pretty strong word that auto sales are gaining a little bit stronger for the month of july. fiat chrysler and ford both reporting stronger than expected sales. in fact it was a record month for the jeep brand in july. biggest in ten years also ford's f series pickup did very well last month. >>> could be a fine opportunity for social media stocks this week. a big quartet pummeled last week, facebook linkedin yelp and twitter each saw the shares dissofty spite some pretty dong -- dissolve despite some

the kcbs radio financial reporter jason brooks says done panic. >> it's natural to look at your 401(k) account, and retirement portfolio and wonder what you can do to protect yourself. the key thing is to make sure you're investing in companies you feel good about in the long- term, where you might be willing to take a hit for a little while, and see them come back up. >> here's another look at how the market's finished. a lot of red today. the dow plummeted 588 points. the nasdaq dropped 179. the s&p 500 fell 77. >> after a series of embarrassing security breaches, changes are finally coming to the san jose airport. kpix 5 juliette goodrich tells us about the low tech solution on the way. >>> five times in less than a year, a person was arrested after trespassing on airport property at san jose manetta airport. 15-year-old yaya made head leans when he stowed away in the wheel well of a hawaiian air leans jet after scaling the airport's perimeter fence. clearly the feds saw there was a need at this particular airport to get this done. >> certainly our airport saw the need based upon s

kcbs radio's financial reporter jason brooks has the story. >> reporter: just an ugly day for the stock market. the dow suffering its ninth biggest one day point decline at well over 500 points. although if you compare it to the last time the percentage not nearly as bad this time around as the stock market is one huge run. we suffered the worst back-to- back days for the stock market since the early days of the financial crisis. chalk it up to china whose stock market has been tanking for three months. ities economy is stumbling. beijing making a number of moves to upright those markets. not able to do so. that finally is catching up on wall street. investors worried that stocks have simply gotten overpriced and now they are pulling back. >> thanks, jason. also today, oil prices fell below $40 a barrel for the first time since 2009. they have been falling steadily for about 8 straight weeks. last year at this time, prices almost 60% higher. here's good news for you. more people in california are going back to work. the jobless rate dropped by a tenth of a percent in july. it is now at

here's kcbs radio's financial reporter jason brooks. >> reporter: good morning.ews in july. retail sales p,rebounded from a flat june up six-tenths of a percent. a lot of demand for home furnishings ubuilding materials restaurants with a big month. well. electronic sales also down. this is a key. the back-to-school shopping season is t(under way now. the national retail federation expects that sales will be lower compared to last year. job market still looking good. initial jobless claims rose a bit this past week but the four- week average is t(down to 2e market is pulling back a little1 bit in the early going. dow down 50. back to you. >> thank you. biggest shopper in america right next to me right here jason. >> we are all jfhappy for it if that lifts our economy up, thank you, maria! >> bring it on. all right, fáw3 fájason brooks kcbs news thank you. >>> here's okÑia sign of the re- hot rental market in san francisco. they spend 47% of their income if youpdare looking for a new place the penthouse unit in a brand-new duboce avenue building ñrgoing for $6,500

kcbs radio's financial reporter jason brooks with what fueled today's buying binge. >> investors and particularly wall street analysts like this move because they think it will provide better accountability for google and that everybody will see where the money is being spent. google has a lot of far reaching projects that may not become actual businesses for many years. this will give investors and shareholders a chance to see how it's being spent. >> yeah. for the year google stock is up almost 30%. most of the gains coming after its quarterly results last month. >> speaking of alphabets. paul deanno joins us with the abcs of weather. >> where do we start? [ laughter ] >>> let's go with it. for tuesday. >> t for tuesday. >> that works. >> how about w for warmup coming? >> how about r for rain? >> oh, that would be nice. very nice. touche'. soon. soon. we're going to get some rain this winter. i have a feeling. but it's all guessing. we are not going to get rain for the next several days. high temperatures today pleasant. when the nut tree airport doesn't hit 90 you know that the ma

. >> here is jason brooks. good morning. >> reporter: good morning.xecutive shuffling going on in san francisco with a couple of companies. there are numerous reports saying that twitter, the former ceo will step down as from twitter's board providing that there is a permanent ceo brought on board and bloomington says that could be jack dorsey. if he steps down over at square. the mobile payment firm. he would go back to twitter on a full-time basis where he is currently serve as the interim ceo. a lot of movement around. could be a little bit con using. twitter looking for new direction as it tries to move out of a rut that it's been in. the stock is plunging. struggling to build up the user base. apple stock on the rise this morning. it, too, has been struggling. it has been down. and there are reports that it will unveil its latest iphone the second week of september, probably september 9th. and the things to look for in the updated versions of the 6 and 6 plus are force touch display, a better camera and a faster chip inside. >>> stock market off

coming up, we'll get an update from kcbs radio's financial reporter jason brooks. ,,,, [female announcerup to $400 on beautyrest and posturepedic.n, get interest-free financing until 2018 on tempur-pedic. plus, helpful advice from the sleep experts. don't miss mattress price wars at sleep train. >>> here's a look at your highs throughout the bay today. 84 los gatos. 84 morgan hill. 79 mountain view. 76 san mateo. 65 along the coast in pacifica. >>> and apparently that means that we have a fairly typical summer day on the way for the bay area today with unfortunately, no rain in sight. it seems like autumn like conditions are going to begin coming. can you imagine -- it's august. we're already talking about pumpkin lattes at starbucks. >> mm-hm. >> and the prospects -- >> having umbrellas. but at least -- >> it's better than 107 degrees in livermore. >> charlie rose joins us from new york with what's coming up on "cbs this morning." >> reporter: ahead we're in washington state where three firefighters died battling this fast-moving fire. at least three towns were evacuated overnight. plus

. >> for more on the market volatility we turn to kcbs radio's financial reporter jason brooks. >> reporter for this week to end. aren't we? we haven't seen a wild week like this in years. couple of huge gains after those two big dives at the beginning of the week. we do have a bit of calm being restored on wall street this morning. the market is lower, but still any moves under a triple-digit is a welcome sign. china did gain some ground today but there's growing speculation that beijing itself bought stocks in order to stem that bleeding. that's something that would hurt confidence in china's stock market and its economy. now, the u.s. economy continues to show some signs of improvement. as far as consumer spending goes, personal spending rose in july and income rose at their fastest pace since last november on top of low gas prices. that's a good sign for retailers as we get closer to the holiday shopping season. also facebook continues to be the social network of choice as mark zuckerberg says. they had one billion visitors in one single day on monday. they have never done that before.

kcbs radio's financial reporter jason brooks reports. >> reporter: another rough day for the stock marketes to try to make moves to stall its stumbling stock market and reinvigorate its economy. there are a lot of concerns that perhaps china is not even doing as well as it said. we saw a sell-off on wall street yesterday. that's continuing this morning. and there is a lot of pressure on u.s. firms doing business in china. the currency de valuation means their goods and services will cost more for chinese con sometimers. apple's shares dropped 5%, down 3% today. apple reaped record profits the past couple quarters thanks to its strong iphone sales in china. >>> and speaking of china, e- commerce giant alibaba reported earnings more than ducked its profit but because of the -- more than doubleddists profits but because of the problems in china the stock is diving. it more than double its profits. let's check the big board. dow down 190. yahoo shares down 6% on the alibaba news. back to you guys. >> thank you. >>> the perseid meteor shower is expected to put on quite a show later tonight and

here's kcbs radio's financial reporter jason brooks. >> reporter: good morning.treet these days. tesla and fitbit the latest two companies to come but with big earnings for the second get yet their stocks are diving despite that. for tesla the main reason is invests are not happy that the company is slightly weakening its sales forecast for this year. elon musk stated he wanted to sell 55,000 cars in 2015. now the company is looking at between 50 and 55,000 enough to send the stock lower by 8%. musk not bothered by that at all. he tweeted that he would rather focus on making great cars than worry about meeting financial targets on a quarterly basis. >>> fitbit the san francisco startup saw a huge gain in sales of its fitness bands in the 2nd quarter from a year earlier, also up from the 1st quarter crushed expectations on profit and revenue! yet its stock is down by about 9%. and one of the main reasons for that according to analysts is that, well, fitbit stock hit an all-time high yesterday. its stock has been absolutely white hot since its ipo back in june. une

jason miller. professor, welcome. >> thank you, brooke. >> this is incredible. how did you stumble upon this?ss of successfully documenting that dr. king's dream had its origin in the poetry of hughes. although i traveled holding the speeches and handwritten drafts of the poems. the most interesting evidence i found was in rocky north carolina and i found this audio tape, a reel to reel tape about this large, seven inches in diameter. the box had rust on it. the reel was cracked and the end of the tape was frayed but i was hopeful because the box was labeled dr. king's address, november 27, 1962. if it held that i knew we had something very, very special. >> i can't imagine even finding a box that is labeled dr. king's address. you have this piece of history in your hands. can you tell me about when he addressed -- it was a high school gym back in '62? >> it was. it's a jgymnasium. in this speech dr. king is humor rouse and serious and goes into his how long not long set piece he made famous at the final march in 1965 and then he says eight lines of i have a dream and goes into let freedom ri

brooks who returns it to the house. the raiders not only lost the game but they lost lineman watson to an achilles injury. all right, final round at the barclays, pga champion, jason dey entering sunday but not for long. he makes this long put on 14 for birdie. then on 15, dey drains it down the hill. reads the break perfectly for birdie. his third win in his last four starts. he is very hot. all right, louis berry, pennsylvania, fell to japan today by a final of 18-11. peggy, always good to see you, terry, i know what you did. you were talking about hot days before the sports cast. you know food distracts me. >> if the dog days are hotter -- >> he implicated henry. >> i ignored the question. >> i ignored the question. if i think about food iale anno] during mattress price wars at sleep train, save up to $400 on beautyrest and posturepedic. get interest-free financing until 2018 on tempur-pedic. plus, helpful advice from the sleep experts. don't miss mattress price wars at sleep train. ♪ ♪ yoplait. the smooth and creamy yogurt your whole family loves. yoplait original with no artificial sweeteners, no artificial flavors, and no high fructose corn syrup. >>> a reco