liz knows what i'm talking about. liz: did you say gone fishing or gone shopping? [laughter] i don't fish, i shop. charles: i heard about that kind of therapy. it's supposed to be pretty good. liz: it's very therapeutic. charles, thank you. the bulls just scoring a late-day touchdown. all right, market here with 59 minutes left to play, the score in the bull-bears game has whipped around to favor the bulls. let me give you the pick picture here. the dow was already outperforming the major averages for the entire session, but now you see the blue chips are extending their gains in late afternoon trade. right now we've got them up nearly 300 points, let's call it 296 points. now, up until around 1:30 p.m. eastern time, the bulls had been playing defense at least over at the s&p 500 and the nasdaq. so the s&p had been down about 23 points. you can see now completely turned around, it's up 22. and the nasdaq had been under pressure, down 105 points, but same kind of picture with the s&p, you see it popping into positive territory on those bostick comments that charles

right, liz? liz: oh, yes. and by the i way, liz ann saunders is about to weigh in -- charles: she's one of the best. liz: by far, one of the best over at charles schwab, chief investment strategist. we wouldn't quite say march is coming in like a lie -- lion, but stocks falling to kick off this first trading day of the month in a continuation of february. we do have the dow jones industrials down 74 points, the s&p lower by 24. the nasdaq's a loser too, down 87 points. russell 2000, small and mid caps, down about 5 points. what is driving these declines? it's not the worst we've ever seen, but you've got to the look at the rising bond yield withs, for one. the 2-year treasury yield hitting its highest level in 16 years. earlier it touched 5 -- getting very close to 5%, 4.899%. and look at the 10-year yield. the 10-year yield earlier topped 4%, its highest since november 9th. right now we are just below thata resilient economy is leadg many to believe, okay, here comes the fed talk, the fed will keep raising ra

liz: okay. so compare debt to equity, these are things people should be doing no matter what kind of stock they buy, correct? diversify -- >> yeah, if you are buying individual stocks, you know, some of the basics, right, are things like in terms of whether if you're looking at fixed income investments, you know, it's what's the coverage ratios and, you know, can companies pay off their debt, right? what are their assets relative to their liabilities. what is their operating income relative to their interest payments. those are some of the basics. but i would say to you that for the average investor teasing out, i mean, companies know this, these are very basic fundamentals, teasing out the laggards and who's got hidden problems mt. balance sheet is a lot more complicated. liz: i know. >> and for the average investor, it's more, i think, about not being caught in a concentrated position where if something does go awry, you have too much betting on that a one piece. liz: kenny, that's why warren

liz: oh, boy. well, we're going to see, because here is the big question as we kick off the final hour of trade, will traders and investors turn tail or turn even more bullish than they are at the moment while barreling toward the closing bell? judging from the dow's behavior this session in which it's crossed the unchanged line 41 times today, i'm going to say it's too risky a call to make. we don't know, and we've got 59 minutes and change left. at the moment the cow is up 82 the points and on track to close higher for what has been a very rough and um the bl week of headlines -- tumble -- the s&p 500, it is the also moving higher. thank utilities. you its often seen as a safe haven. the best performing s&p sector right now, and we've got the s&p up 12 points or a thursday of a percent. it ooh too is on track for, i guess, just under a 1%, about 1% move to the upside for the week. the nasdaq, which if you remember yesterday, intraday it zoomed up 292 the points and then lost some of that, closed

liz?see, if you going to have a weed industry that's legal, you've got to shut down the illegal ones, right? i mean, it's just not going to be fair if some are paying taxes and others are not, right, madison? >> reporter: right. and interestingly, the new york city sheriff's county is within the finance department, so obviously they're not happy to see that these, all these tax laws that are being avoided. that's why they also regulate tobacco products. but on top of this, part of the new york legalization is that those legal shops go back to communities that were disenfranchised by the drug war. now those communities are continuing to lose out when the illegal market is thriving. liz: madison, thank you. very interesting stuff riding along with the sheriffs on this very important story. we'll continue to follow it. >>> all right, whatever the start-up, companies in need of capital are already finding a suddenly colder climate thanks to the regional banking crisis. saw torrey fund founder

it begs the question will he actually announce, liz? liz: liz: great point.? it will be to 28 when that happens. liz: okay. sean: thanks, emac. liz: sure.

liz: lauren simonetti.hink all these warning flairs being send up by the likes of musk and wozniak are waiting on the intelligence action and adobe is creating its own app called fire fly and will it take them to greater heights? team "claman countdown" was given the opportunity by adobe to put fire fly to the test with a few crazy requests. wait till you see what it came up with. no ai though when it comes to me and my podcast or the ceo who's coming up in just a moment. we're going to get the real liz right here. venture rapt list and great cop -- capitalist and cofounder been through many crises in difficult times and the son of immigrants went from selling newspapers by the new york city subway and dominating the vc world and been in the startup funding race for more than 50 years all the while write ago book and no red lights and running dozens of new york city marathons. even at age 88, get his take in my new everyone talks to liz podcast episode that dropped. find on amazon, google, spotify, iheart r

liz: i absolutely agree. but it also calls for oversight, which we were supposed to already have, andy. and, in fact, we know that mary daly of the san francisco fed, it was the on her watch, right? isn't she the one who was supposed to have her offices be regulating those banks in california? >> well, signature's here in new york, but svb, absolutely. liz: svb, yeah. >> and they were this there, they were looking at svb. they had recognized it was a problem, but they didn't do anything about it. and there were so many better ways for svb, they could have lent their portfolio to the fed. but once they sold their portfolio to goldman sachs and took that multibillion dollar loss, all right, that alerted everyone, goldman said, well, we'll sell your stock for $200 a share. it was trading at 269. the next thing you know it's 106, and the next morning it's 38d. liz: okay, that's call a bank -- >> liz, or you're never going to get, you're never going to get effective regulation by the government. what we want is fr

reporter: liz, good evening. look, manhattan'sda alvin bragg is pretty much made it clear tonight he does not intend to hand over documents or to testify to the republican-led house judiciary committee about the possible indictment of former president trump; however, he does say his office has essentially, is open to speaking to committee staff about whether or not what information could potentially be given over, but the reality is that in a letter to reporter cab committee chair jim jordan calling committee's request unconstitutional and " unlawful" incursion into new york sovereignty adding jordan's allegation into the state's investigation into trump is politically motivated is" unfounded" but not before bragg accused republicans of the same thing. "the letter only came after donald trump created a false expectation that he be arrested the next day, and his lawyers reportedly urged you to intervene." now, this all comes after jim jordan sent new letters yesterday demanding documents and congressional testimon

liz: okay. and now we are seeing the yields extend their fall. the yields are moving under our feet, dan greenhouse. let me read you the headline, treasury yields extend thing their fall after that swiss official -- the story we just brought you concern said that there is no support there. but the swiss national bank, another one, another member of parliament is telling reuters i wouldn't be surprised if the swiss national bank makes an announcement on credit suisse by monday morning? that's days from now. so between now and then, u.s. stocks -- s&p's a lot cheaper right now. do you go into just a basic index fund? >> yeah. i don't know what's going to happen in the next three days, and i don't think anybody because. what i would say is, i guess, many contrast to what naeem said earlier, this bank's not going to fail without support. this has been a slow motion locomotive for the better part of a year or two or even more. st it's not as if everybody's not aware of problems in many european banks

back to you, liz. liz: uh, exactly. last night, well, yesterday right here on this show. and you said that these discussions were happening. jpmorgan, you've got to believe that jamie dimon, once again, was the guy who was sort of at the forefront and the voice of we gotta the do something because he's the one who can see the i don't want to say rot underneath, but the fast dethe tier rating situation -- deteriorating situation, charlie? >> liz, here's the thing. okay, my source, initial source from yesterday, was at jpmorgan. i'm not going to say who it is, it was a senior, senior guy. liz: okay. >> what he tells me and he reminded me is remember what jamie dimon said about six months ago, check me on the timing, there's a storm out there. it's coming. i'm not sure when it's coming, when it comes, it's going to be nasty. liz: he kid the say that. >> why did he say that? he said that because the last three years we've cone unprecedented amount of spending from the fiscal side, on the monoair the side -- monetary side by

liz: all right. but just for like a housekeeping point, can these stocks be halted again in the final half hour of trade? >> sure, because they're volatility halts and they can absolutely be halted going into the belt if it gets antsy again as it was this morning. my sense is they've come down and i don't suspect think should but could. liz: robert, who should be fired at svb and word was management took out a lot of stocks in the week before and could be a regularly scheduled sale, but regardless will that money be clawed back? >> it has to be. they were making sales in the last month and 10v5 and predicted to be done, you have to take it back. but also 72 hours ago before friday, they could have raised money at a 30% discount with warrants. they totally messed up. totally messed up this company. liz: okay, chris and robert, thank you very much. stay right there. fd ic ensures bank deposits up to $250,000 per customer was key in stabilizing svb but signature bank, we mentioned, collapsed yesterday.

liz: jon, is that the right move? some saying you should pause, the fed should hold off, hold their fire. some are even saying time to cut to make sure that we've killed d this three head, 12-headed monster of a banking crisis that involves the regionals. >> the right move is indeed to make a slight move to the upside and it'll be very difficult one for the fed to thread the needle as we've all been saying because they are facing the guard that made 50-basis point last week, head of bcb. liz: that was gutsy. >> it was gutsy. liz: either you're tamping down inflation or not. >> that's why you need a higher federal funds rate. it's not a big jump in fed funds, but it tells us that the fed is still committed to bring inflation down, it has to show that commitment, not only to prevent treasury bond yields from going sharply higher and prevent unwanted depreciation of the dollar. liz: talk admitted what janet yellen said today about stepping in for future regional bank problems, listen. >> the public should have confidence

liz: r liz -- liz: we are hearing chemical bronchitis and nosebleeds. fda has delayed testing for dioxins and they are now telling norfolk southern to do it. >> the gentleman who talked about his skin peeling off. he says he feeds his family from the garden, from the property he owns. he asked can i plant a garden and norfolk southern said no i wouldn't plant a garden. but there is nothing in the air, the water is safe. i got a letter saying my well water is showing no toxins. as far as the emotions in that room. the poor buy from norfolk attorney. we almost wish he would have let them go on and speak. but there was no substance to their answers. liz: a lot of people we talked to in east palestine feel abandoned. the president says he's going to go, the press secretary says it's not on his schedule. >> are you going to ohio to discover the situation with the train derailment? >> i have spoke with every official in ohio, democrat and republican, and we'll be recommending a lot through legislation here and i will be there. >> when he left the meeting he s

liz: a live look at sfo.if you are booking flights to travel during the summer you have a new option. an airline just announced flights to london starting at $185. north atlantic airways will launch the flights in july 3 days a week. it has london bound flights from lax, and boston. reggie: when you hear north atlantic, don't you hear north? liz: you do. i am always skeptical. if it is two cheap -- if it is too cheap, what is the catch? i was just looking up flights to europe, they are high. -- they are pricey right now. reggie: it is even worse to asia. houseguest. the do's and don'ts when staying in someone's home. liz: the new york stock exchange. an update on how the markets are doing. reggie: robots on the runway? oh no. their debut during the fashion show. fashion show with no fashion? dreadful. stay with us on the abc 7 bay area app. we are live everyday at 7:0 drew: warning still in effect from four clock p.m.. we have the avalanche warning in effect. the red shading you are seeing on your screen, we

liz: okay.ow, there were some investors who said, jeez, the cruise lost close to $2 billion last year. you still going to stick with it? i think this looks like, can i interpret that, as you're saying we're in it to win it? >> we are in it to win it, liz. because when you look at what we're doing in cruise, we're making an invest inspect -- investment into the future, and cruise has demonstrated the technology. we now have it operating in three cities, in san francisco, in phoenix and here in austin. and we were able to get austin up and running in about 90 days. so this technology is here, this vehicle's going to be on the road, and you're just going to see a ride-share and autonomous vehicles just continue to grow. liz: mary, get to this a.i. development in just a second, but this just hit the tape, that general motors is halting production at your mexico plant, the truck plant that makes the civil rad coe the and the sere a, due to supply chain issues? can you give us some details about that?

liz: . he wants to get rid of the trump tax cuts and pulling back on a regulatory state that so helped the u.s. economy. it's equal to 20% of gdp. that's what americans paid in world war ii. this is war time spending without the war. the top rate goes back to nearly 40%. this is the way of prosperity and growth in the u.s. economy? >> the proposed budget is like the old build back better bill. it's a campaign document. but what you and grover were saying, the reason the administration is going after middle class taxpayers is because that's where the money is. we have super wealthy people and they should pay plenty of taxes. but in terms of the larger amount of money and tax revenue, where it comes from in the united states. it comes from the broad middle class. that's why the schemes are always sold as taxes on the rich but end up being tax on the middle class. liz: he mentioned climate 13 times within equity 9 times. gas prices 4 times. parents just three mentions. fentanyl gets mentioned t

liz: any time.ite at starbucks and new ceo wasn't going to start till he earned his barista certification before stepping into the role. who is the man? find out next and what maybe he plans at the next shareholder might. closing bell ringing in 35 minutes. dow is up 322, s&p up 27, nasdaq up 19, and yes, we're continuing to watch first republic, still down about 46.25% right now. stay tuned and "claman countdown" is coming right back. sometimes you're so busy taking care of everyone else you don't do enough for yourself, or your mouth. but eventually, it will remind you. when it does, aspen dental is here for you. we offer the custom dental treatments you need, all under one roof, right nearby. so we can bring more life to your smile... and more smile to your life... affordably. new patients without insurance can get a free complete exam and x-rays, and 20 percent off treatment plans. schedule your appointment today. get refunds.com powered by innovation refunds can help your business get a payroll

thank you. >> thanks, liz. liz: great to see you. okay in the wake of the major computer systems breach the u.s. marshall service just revealed the biden administration rolling out its national cybersecurity strategy. the ceo of cybersecurity firm z- scaler is here live to tell us if it goes far enough to keep american businesses and the government safe from hackers he's about to give his exclusive assessment, next. closing bell 49 minutes away, and we have a rocking rally on our hands, dow is up 387, s&p is having a very nice gain here of 64 points or 1.6%. the nasdaq up two full percentage points right now the "clayman countdown" is coming right back in just a minute. your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000

and think about liz macdonald up next. liz: think about always watching larry's show.e love your show. couldn't agree more, larry, you're terrific. larry: thanks so much. liz: this story coming in more poles show this white house is a failure. this, irs harassing twitter files journalist matt taibbi. treasury secretary janet yellen testifies today. she has no answers on that. attorney general garland testifies he does not know key details on the doj targeting school board parents as terrorists. this news, u.s. marshals were told to stand down on protesters at the homes of supreme court justices last year. with us congressman jim jordan, greg stuebe, michael mccaul, former economic advisor to president trump, steve moore. civil right attorney leo terrell, alex epstein and "new york post" jon levine. a new gallup poll the president is under water on the approval rating, the economy. even the environment. the white house stone walls multiple investigations. energy secretary granholm now on spring break in puerto rico. this is her fourth trip since last fall. plus dr. fauc

and listen to liz mcdonald. liz: thank you, larry. happy st. patrick's day. we have news on the banking crisis. silicon valley bank ceo flies to a multi million dollar home in hawaii as he's probed for stock sales right before the collapse. homeland security secretary majorkas parties with msnbc as his border chief testifies they have lost control of the border. dr. marty makary from "common sense" man seen. who is this fourth biden mystery member. a major new push by u.s. states led by governor desantis to keep the white house from l politicizing your savings. i'm elizabeth mcdonald. thanks for joining us. happy st. patrick's. we begin with the dow, the s&p and the nasdaq with loss. regional banks were down sharply. we have news coming up on the race to stop the bleeding. the bank panic has wall street worried. is the federal reserve going to make things worse with more rate hikes next week. analysts warn that could cause more banks to tomorrow and stumble. the reason for all those rate hikes, not a problem. edward lawrence live at the white house. the white

right, liz claman? liz: oh, yeah. [laughter] exciting kind of like, you know, blood dripping from your jaws exciting because i've got to the the tell you, charles, look at the lower bug here as we kick off the final hour of trade. there goes that roaring rally we just saudis pate 40 minutes ago -- saw dissipate. stocks reverse aring course and now the dow and the s&p are iffy. we've got the dow jones industrials down 1 point, the s&p -- which had been negative a minute ago concern up 5 points. but remember, for the dow we had been up 481 points. right now as you see the blue chips are bouncing between red and green. the s&p, which had earlier spiked 70 points, is kind of doing the same. it's up 12 points, so it's the as if the market is getting some headlines here. we're going to tell you what we think those are and ab absorbing them and deciding whether it is good news or bad news or sort of we don't know. the nasdaq is clinging to about 114 points. but the -- by the way, it was a 292-point jump earlier in the sessio

watch liz mcdonald. liz: you know who makes me happy is larry kudlow.s a terrific interview with a.j. barr. we have liz updates on the indictment of trump. why does this indictment have an unusually high 34 counts of alleged fraud. is that a sign of weakness? overkill? twitter slaps a warning label on nancy pelosi's tweet for getting u.s. law wrong. former arkansas governor asa hutchinson. steve forbes is with us. jason chaffetz, dr. marc siegel, and radio host stacy washington. this down standard. the secret congressional slush fund that you the taxpayer pays for to settle congress' sexual harassment and discrimination cases. is the white house now setting the stage for u.s. reparations? a new controversial pay-to-play deal involving the bidens, china and the fbi? dr. fauci says the vaccines don't work, after he pushed them. i'm liz mcdonald and "the evening edit" starts right now. [♪♪] thanks for joining us this friday evening. look at your money. stocks ending up. an important inflation measure, core pce came in at 6% for february. former president t

liz: reggie: amanda really did it right. liz: she totally did. reggie: she was playingo r ourot students. she works as a mobility specialist helping people from age three to 22 years old. she spoke about her experience on the show. >> they were so sweet. it was surreal to see them in real life. it was a really surreal experience. it is not something i think about often of striving to be on tv or wanting to be in the spotlight. it was a wholesome experience. reggie: nice. watch wheel of fortune every week might at 7:30 right here on abc7. liz: 10 out of 10 energy from amanda. reggie: there is an interview as part of the audition. you have to pretend that you win and how high can you jump. . liz: 100%. reggie: jumping is a big part of it. liz: there is nothing worse than winning and having no reaction. reggie: straight to jail. francis: good morning. we are waking up to a gorgeous day. live doppler 7, clear skies over the bay area but there is a storm that will be dropping in from the gulf of alaska so it is a cold storm. a live view of sfo shows y

liz: more tha been raised. new configuration will have twice as many leds and is expected to be visible across the bay area. new video shows grovel falling down, covering roads and trees. this is near claremont avenue and a grisly. you can see the roads look icy. authorities have been warning drivers to be careful and avoid potential spinouts as it moves through the bay area. people traveling back from lake tahoe are having trouble getting out of the area because of numerous closures and backed up traffic. the national weather service issued a winter storm warning for the greater lake tahoe area. 10 to 14 inches of snow are expected with heavy winds going up to 95 miles an hour. some drivers are trying to beat the worst of the storm and get out of the area. >> i considered not even coming at all, but i deftly wanted to get on the road. liz: people who live in the area are bracing for more snow. some arson plea avoiding leaving their homes for fear of getting stuck. lisa, you are tracking all of this and our col

liz: absolutely. also the guidance keeps changing and moving and also that's because we are still learning about covid. some people might say, do i really still need a booster? people are getting covid with or without one. what do you say to that? >> covid in a younger person is not the same as covid in an older person, so maybe 80% of americans have not gotten the new bivalent booster. if you are immune compromised and one of the 80%, you should run out and get it because we are still taking care of people in the icu. there are three -- there are still 300 americans to 400 americans die every day of covid. >> i hear businesses -- whenever i hear people are putting off their booster, sometimes the symptoms are really rough. is that still happening to folks with this new booster or is that getting better? >> it is the same thing, but i would say if you got covid, which is very common, most people have gotten it. you have probably taken on much more than 1 -- you are probably taken out much more than on

along -- i am liz kreutz along with liz -- along with lisa argen.

liz: coming up, s know this morning.eggie: nearly one year after he got slapped, comedian chris rock is addressing it. what critics are saying about rocks performance over the weekend. liz: but firefighters entering a burning house... will one day save time when lives are on the line. visualizing a patient's most recent scan... will help speed up decision making in the er. and while the woolly mammoth is still extinct... that doesn't mean students can't take field trips to visit them. the metaverse may be virtual, but the impact will be real. ♪ma ma ma ma♪ [clears throut] for fast sore throat relief, try vicks vapocool drops with two times more menthol per drop*, and the powerful rush of vicks vapors for fast-acting relief you can feel. vicks vapocool drops. fast relief you can feel. the peppadew pepper on panera's new green goddess caprese melt. vicks vapocool drops. it's a small detail. but when enough of those details are melted together... they become big. new toasted baguettes. cater your next event with panera. liz

liz: thank you for joining us. along with -- i am liz along with lisa and we continue at 9:00. good morning america's next. ♪ ♪ >> good morning, america. deadly tornadoes. at least 23 people killed when twisters tore through mississippi. >> take cover immediately's! >> a deadly path stretching over 90 miles. homes and businesses torn apart. the urgent search for survivors as devastated towns pick up the pieces. >> new attacks in syria. an american service member injured. he was heading back after the initial round of attacks. with tensions escalating in the region. >> the threatening letters sent to the manhattan d.a. investigating donald trump office

liz: thanks. new this morning out of monterey county, evacuations underway after the river levy breached overnight. national guard high water rescue and swift water rescue crews have been requested. two evacuation shelters are open at the santa cruz county fairgrounds and compass church. restoration work on the levy is expected throughout the morning. also in monterey county, a scary situation as authorities rushed to pull people out of their cars. this happened overnight near the river. we are working to get more information on what happened, but you can see in this video authorities pulling a child and one adult out of the car as the water around them comes up around their car. thankfully, everybody appears to be ok but it shows how fast things can change. we want to show you more of the damage left behind. we are going to do that in the south bay where we are once again seeing widespread floods, swamping roads and major highways. that includes highway 101 which has since been reopened. lauren m

liz: thank you. video this morning, thousands of people forced out of their homes as floods overtake streets and neighborhoods in monterey county. this happened after a levee broke along the path of rogue river saturday morning -- pajaro river saturday morning. people are waiting for it to subside so they can get home as soon as possible. the monterey county crews made many rescues. evacuations and rescues, mid more rain on the way this week. as abc 7 news reporter j.r. stone tells us, some people are being warned now about their drinking water. j.r.: complete neighborhoods underwater saturday after this 120 foot wide levee breach along the pajaro river in monterey county. >> we got notice that the love in water for three miles upstream, the size of a train car. >> it is a tremendous amount of water that continues to accumulate as we speak. officials announced some of the water is draining on the west side of the community. they also detailed current flood projections that showed the situation gettin

liz: lisa, thank you. new video this morning, thousands of people forced out of their homes as floods overtake streets and neighborho county. this happened after a levee broke along the pajaro river early saturday morning. people are waiting for it to subside so they can get home as soon as possible. the monterey county crews have made it nearly 90 rescues over the past day. the damage in that area is some of the worst we have seen since last week's atmospheric river. those evacuations and rescues, as more rain is on the way. as abc 7 news reporter j.r. stone tells us, some people are being warned now about their drinking water. j.r.: complete neighborhoods underwater saturday after this 120-foot-wide levee breach along the pajaro river in monterey county. >> we got notice that the levees were overtopping in water for some of the levee broke. three miles upstream, the size of a train car. >> it is a tremendous amount of water that continues to accumulate as we speak. j.r.: during a press conference, offici

liz: now at 6:00 a.m., storm cleanup. the worst of the storm has passed, but the damage is far from gone. where we have seen the worst of the impact as more rain is expected this weekend. good morning, thank you for joining us here on saturday. good morning, lisa. what a wild week. we keep having more rain. lisa: we have a level 1 system, so it will be light. all the places we do not need it, especially the north bay, where we have a warning for flooding until 10:00 a.m. that is where we have the rain. we are pinpointing the heavy cells north of santa rosa. as they look at mark west springs there, petrified forest, this is the area where the winds and flooding has not receded yet. creeks out of their banks. so be careful. a level 1 system today and tomorrow. up to three quarters of an inch. a flood advisory until tomorrow morning for the entire bay area. scattered showers throughout the day coming near 50. here is the beginning of the morning, moving into the north bay showers throughout the afternoon. a detailed look at

liz: my hot take.we have more emails contradicting the president's denials saying he had no knowledge of his family making money overseas. before we head to break, let's check be in with dagen and sean. sean: we have pete hegseth talking about joe being up in canada and the parents bill of rights that just passed. dagen: i like to call him hunk a hunk of burning hegseth. also, what gavin newsom is doing out in california to punish isle companies. sean: we'll be talking about tiktok in 14 minutes. stick with us. ♪ ♪ we're the ones getting it done. we're managing type 2 diabetes and heart risk. we're on it with jardiance. join the growing number of people who are on it with the once-daily pill, jardiance. jardiance not only lowers a1c, it goes beyond to reduce the risk of cardiovascular death for adults with type 2 diabetes and known heart disease. and jardiance may help you lose some weight. jardiance may cause serious side effects including ketoacidosis that may be fatal, dehydration, (that can lead to

liz: incredible. parts of the oak fell into the neighbors properly -- property, narrowly missing his house and car. record storms and rainfall brought on hundreds of trees in marin. a dry -- giant crane was brought in to assist in the cleanup. to keep up with changing weather, access the same live doppler 7's our team uses available on-demand on abc seven bay area app. you can download that wherever you stream. today in santa clara, congressman ro khanna will discuss the collapse of silicon valley bank and importance of government intervention. he met with the officials of the ftse and treasury about the crisis. representatives from nonprofits will join him at today's town hall. he's excited to give more details on efforts to protect community banks and regulate the banking system to prevent future failures. still ahead on abc seven mornings, spreading hope in san mateo county. the new campaign being launched to help women and children get out of poverty. and here's a live look outside right now. beau

i'm liz kreutz with lisa argen. lisa: we have cranked up the storm impact scale to a level two as strong thunderstorms moved across the peninsula into the east bay. we have had reports of mudslide on highway one near moss beach. redwood city across the bay. as we go toward the east, heavy rain from pleasanton to dublin and we will continue to see this track to the west and the north bay has been more quiet. there advisory from the peninsula, half moon bay through pacifica. certainly some problems we have not gotten into the very heavy rain that is expected in the next 30 hours or so. this is all just preliminary. we will be watching this and tracking this for you liz:. -- for you. liz: eight people have died after two small fishing boats capsized off the shore of black's beach. rescue crews from multiple agencies responded shortly after 11:30 last night. the victims were found in the water near the overturned boats and had to be dragged to shore by lifeguards. border control is helping to investigate this incident.

liz: thank you. we want to show you the damage left behind by yesterday's heavy rain and wind. we begin in the south bay where we see widespread floods, swamping roads, including highway 101, which has since been reopened. reporter lauren martinez reports from gilroy. lauren: the interchange was closed until 6:00 friday evening, forcing people to take the back roads. >> i might have to take balsa. i never take that because it is too windy. i might have to come up the other way. lauren: caltrans said thursday their crews started working 12 hour shifts. they said if you can, try to stay off the roads next week. >> if you have the luxury of working from home, do so. we understand that crews and moms and dads need to go pick up johnny from school, pick up medication from the drugstore and have appointments. we are asking them to go to the caltrans quick map and make sure you are prepared for the severe weather. lauren: one man said staying home is not an option since he has to run errands and take care o

liz: thank you. you can keep track of weather conditions as the storm moves through the bay area and access the same i've doppler seven hour weather team uses on the abc 7 bay area news app. new development side of san jose, the man accused of having explosive materials in his home is being tied to t separate -- two separate transformer blasts. the first exposure and damaged a transformer december 8 not far from oakridge mall. the second nearly a month later on snow avenue at santa teresa boulevard. the suspect, peter caraset denied bail. amanda del castillo you has the details. amanda: 36-year-old peter, the man accused of having explosives in his family home on potomac courts, making his first court appearance friday. police linking him two explosions at two pg&e transformers not far from where he lived. this 21 page criminal complaint bringing to light a december 8 last of the damaged a transformer on thornwood drive outside of oakridge mall. the second happened january 5 on snow avenue at santa t

liz: tere, am liz alonwi >> the following is a sponsored program. the abc7 "local spotlight," sponsored by california department of public health. >> covid-19 absolutely still is part of our everyday life. for folks who are immunocompromised, can't get their vaccine, or have high-risk conditions, it still really is a concern for the community. and importantly, we now have treatment. so for those who have symptoms and get tested and they know that they have covid, they should absolutely seek evaluation right away because covid-19 treatments have to be started within 5 to 7 days of symptoms starting. it's also really important to recognize that we don't know the full implications of long covid yet. so even if you're not older or immunocompromised, for folks who are young and healthy and are getting covid, we have yet to see the full impact of long covid. the great thing about covid-19 treatments is that there's early evidence to suggest that it might actually decrease the risk of long covid. ♪ covid-19 treatments are antiviral medicines that stop the

liz: why?because the people are stuck in shelter and living there for the rest of their life, like what happens in new york city. when new people become homeless, they end up on the streets because there's no room in the shelter. liz: she says what's being done now is not working and it is time to try something new. >> we have to get a handle on our sidewalks and we cannot do it if we don't have enough shelter. liz: even with spending $1.45 billion, it would still only end homelessness by a fraction. the city says they will be releasing a separate report on combating homelessness next month. happening today, a marin city native has become a star at san diego state will once again take the court as part of the ncaa tournament. he will lead his team against creighton to try to make it to the final four. he scored a game-high 21 points on friday to upset number one seed alabama. tremmel plated golden state prep and city college of san francisco before transferring to san diego state. this is the f

liz: governor newsom laid out the plan. cornell barnard has the details. >> we want to be preeminent prison is getting a new name and a new mission. >> it is not just about rehabilitation, it is about homecoming. cornell: it was once home to death row and now will be called san quentin rehabilitation center where less dangerous prisoners will get education, training, and rehabilitation under a new plan model after a scandinavian model focusing people returning to society. >> we want to reduce cost and incarceration by keeping our community safe and make sure that people when they come out, as fully engaged and committed members of community and society and are contributing and not likely to reenter into the system. >> have created a place where second chances and true hope are a reality. liz: while some are praising the plan, others are set at turning it into a rehabilitation center. when says the plant will not work for violent offenders. >> i think it is a bunch of garbage and dangerous to the good people of california. l

it's all about the money, liz.so a national security threat, you're saying, from china. >> 100%. you can see this a mile away. china has unrestricted warfare. they want to destroy the their adversary. they don't is have to bomb us with traditional bombs. they're using chemicals. elizabeth: got it. derek, thank you so much, and thank you for all you've cone for america with your work at the dea. thanks for joining us tonight. >>> we have this new phenomenon, a growing movement, this development coming in. more states' attorneys general nationwide, they're dialing back, they're putting back in and reinstating criminal penalties for rethat tail theft. the retail the theft. why the sudden turn around? and we've got senator marsha blackburn on that new report out of the house that basically the doj did the not have any standing to go after school board parents as domestic terrorists. and we've got randi weingarten, she's reportedly going to give a speech slamming ron desantis in washington. that speech coming up in d.c.

liz: a plan. california will start manufacturing its own naloxone, the drug used to reverse opioid overdoses. the state and nonprofit drugmaker will team up to make insulin, which will in turn lower the price. it wil california residents and the entire country, if approved by the fda. >> there is not one has come close to what california has done for health care. we have a lot more work to do. liz: as part of that will be in san diego today to discuss health care reform. he will announce a massive expansion and more mental health housing. this is part of the state of the state tour. in the east bay, family and friends are demanding justice after a net was shot and killed. they held a memorial yesterday. davis was found with gunshot wounds near the oakland. friends and family remember him as a man of love and compassion. >> my brother was a joyful spirit. he was always here for a good time, spreading love, getting care to anybody. when he met somebody, he instantly made that person feel loved. liz:

liz? liz: lisa, thank you.traveling back from lake tahoe or having a lot of trouble getting out of the area because of numerous closures and act up traffic. the national weather service issued a winter storm warning for the greater lake tahoe area in effect until 4:00 a.m. tomorrow. the weather service expects 10 inches to 14 inches of snow, with heavy winds blowing up to 95 miles an hour along the sierra crest. right now, drivers are trying to beat the worst of the storm and get out of the area. >> get back into the traffic, you know, you have to head home. >> i considered not even coming at all, but, yeah, i definitely wanted to get on the road. liz: while many who are leaving come on people who live in the area are bracing for more snow as road conditions are pretty unstable right now. they are avoiding leaving their home in case they get stuck. deadly storms around the country, wreaking havoc for those caught in the past. at least 12 people have died in states from severe weather that brought golf sized hai

liz, pick the up.never the fed rapidly raises rates, it causes a financial shock like the long-term capital, 1998, dot.com bubble. you've reported about all of this. >> that's right. elizabeth: the 2008 crisis. this feels like '07-'08 new century financial, countrywide and more. do they know what they're doing when they're raising rates to the 5-6% range? people are now pulling out to chase those 5 treasury yields. and, by the way, svb did not have a chief risk officer for eight months last year when it's the backstopping silicon valley tech start-ups. >> well, i think that is the question. it isn't just that they raised rates, liz. i mean, had jay powell moved sooner, meaning maybe six months into inflation increasing in 2021, he wouldn't have had to be so aggressive, he wouldn't have raised rates so violently. but every single time we've had a big rate-hiking cycle, there has been a financial shock. and that's why the piece i wrote for fox today, i mean, the regulators should have been looking out fo

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liz: now at 6:00, snow in california. where we will see the most rain and where road conditions will be the most dangerous for drivers. good morning, everybody. it is march 5. let's get straight to the weather center. >> this is a level and a pretty strong cold front. we have showers. live doppler 7 picking up all of that. we saw anywhere from a third of an inch to a half inch of rain. you can see the mix there scattered showers in the north bay. back through hayward, showers. heavier along highway 82. and as we look at the south bay, this is where the front is moving through, morgan hill, gilroy. and all of that snow from mount hamilton. the wintry mix continues level 1 system of showers, breezy, thunderstorm at most levels. as we look at the wind with the reins, they have been breezy. not too bad. you can see the camera shaking though. we have showers in the forecast with that wintry mix. near 50 today. the shadow -- be scattered. we will talk about changes for the weekend in a few minutes. liz: new video shows gravel f

liz: thank you. new overnight, contra costa firefighters are investigating a two alarm fire at a senior housing complex. flames broke out in san pablo. firefighters say one person was treated for smoke inhalation. crews say the damage to the unit is substantial. some residents are right now displaced. it is unclear how many. we will keep you posted on developments. it's a familiar scene during a never ending storm season. this week we saw massive trees toppling over, landing on houses and cars. some of those incidents turned deadly. in menlo park, some are frustrated with the process to remove trees that pose a hazard. as lauren martinez found out, one woman is taking matters into her own hands. >> i think what crossed my mind is what has been on my mind for 20 plus years, and that is these trees don't belong here. lauren: giving tuesday storm, she watch as an 80 foot redwood tree came crashing down in her backyard. >> it was terrifying to be sitting right there 30 feet from where that tree came down

liz claman, over to you. liz: far be it from me to add more fear, we've got some breaking news as we kick off the final hour of a week, white knuckle ride that appears to be continuing. we are getting headlines from regional bank western alliance. in an effort to apparently reassure the markets the banking crisis, the arizona-based regional bank says it remains in a, quote, strong position despite significant outflows, silicon valley bank and signature bank, western alliance saying it is insured department's make up 55% of the total deposits and has an immediate available liquidity of $20 billion. is that helping the stock? not exactly. the stockett intraday low of $30, still down just under 10%, keeping very close eye on western alliance at the moment. the month today charter is extremely ugly, has taken a clip of 76% since march began. the markets are gripped by a crisis of confidence. look at the dow jones industrials down 434 points. crisis of confidence in first republic, western alliance, shares of the