morgan as they're being. can. alleged to be manipulating these markets there's a good case for it certainly they've got a huge position something like thirty thousand contracts that well i mean i don't know what they'd be hedging with that contract because unless they found a planet somewhere in the outer rings of the solar system made entirely of some thing that would put so rather business i'm not sure it seems our cosmically short position that makes no economic sense and going forward you think the only way to bust the manipulation cartel is for folks to take physical delivery wasn't there a move about six months ago didn't sprout asset management wasn't very vocal in saying let's take physical delivery what happened at the diversity got to how come they didn't go forward with that no i think i think the talking about silver silver trust as well and i think that there's been some some moves in that direction but i mean speaking from a personal perspective you know i've thought. a period of several years about

morgan were accused. affectively high crimes and you know we've heard nothing since which i think sort of gives context to what really took place there you know you wonder who expected by now at least some attempt to fight back against these allegations but i think the very fact that hasn't happened is quite telling i thought was very interesting yesterday as well saying but chilton talking about the financial reform bill way he was talking about how they've now been allowed to enforce speculative position limits on the comix and he's talking about how this was a heroic piece of legislation now forgive me max by a bit of a skeptic about all this i think by now they ought to done something so i'm pretty skeptical as to whether or not that's actually going to happen and it is interesting that while he called this bill heroic he also drew reference to the fact. it's the regulated part of that is five trillion dollars worth and then points out the over the counter market is six hundred trillion so quite war c

morgan stanley's c.e.o. but the strong performance down to a fresh strategy that includes taking on hundreds of new stock brokers to help the bank win new business. the company also benefited from a one-off. under $50 million tax rebate. >>> european stock markets spent much of the date rallying, technology leading the way it after apple announced a jump in profit up 70%, the best report ever from apple. >> apple numbers were better than expected, and they went down pretty well here on the frankfurt floor. while investors focused on shares of companies that deliver for apple, like chip maker in finney and. -- like chipmaker infineon. their shares have been up, the market in general has been up, too, also driven by good numbers coming from morgan stanley. but the market also shows uncertainty. near the end of the session, some profit-taking started. >> talking about the secrets at apple. looking at the final market numbers, the dax index finished up. similar story for the euro stoxx 50, finishing in positive

said they may be some eighties in los gatos, morgan hill. 77 is a comer number for.e is a look at your 7 day around the bay. we have a very redundant for test it really does include a lot of morning fog, and fax market the connecticut and produce a little bit of drizzle than in the afternoon we will clear 7 july very too much say as slight warming as we headed to the week. jerkin your commute with their guard. >> thank you, drying dishes are nice, light barely in occurs on the road. quick bridge structures the bay bridge just a couple cars on their road no big backups, and no delays in short a minute ride from the foot of the maze is a fremont. you're right to resume until conditions are a little bit thicker as a major win the commute direction towards foster city relies making their way into hayward really low drives and drove it is fermented end. over the golden gate in arrive from highway 37 is only insurance payments. arriving at showing your mill they pam brady said russophile you can see traffic is unwell on 101 headed towards palo alto. james. >> thank you, th

now get down to san jose as well in morgan hill. the next couple of hours we will stay caked in continuing to see shrouded in fog all up until about the o'clock hour by 9:00 a.m. clearing and then at 10:00 mixing it out but leaving clouds out there mixed into the afternoon with sunshine. 55 oakland warmer in hayward 56. south bay over. in the afternoon 80 degrees for center rosa we do get a bit of a warming. 73 san rafael 10 degrees cooler along the peninsula for san francisco down and to los gatos morgan hill could be in the '80s. livermore valley mid to upper 80s. 74 for hayward 68 in oakland. dear 7 day around they show a slight warming especially towards the end of the weekend by sending we could be pushing 90 degrees and some of the warmer inland spots mid-70s around the bay mid-60's for the coast. low clouds and fog expected to continue for most of the morning. next week becomes more patchy in nature temperatures continuing to climb. that's get a check gone commute with george. >> quiet start for your morning commute this frid

dropping down into morgan hill.the device san francisco, 58 oakland, livermore 53, set a 16 month view. into the afternoon we will keep those temperatures low of their in the low '70's santa rosa we could get to rows 75 degrees in sonoma 73 napa and along the peninsula once again another cool day. the measure sitting in the '50s could worm of doubt about 73 for redwood city. he's become a call for berkeley, oakland sitting in the mid-60s the san run dry temperatures in the mid-70s down into pleasanton about 79 degrees about the same for livermore if that is your take on down to the south bay, temperatures in the mid-70s a little warmer than that. here is a look at your 7 day around the bay. we are starting to see just a slight warming trend by tomorrow, friday one of the war days of the week city these upper 80s for many of the war in the spots. upper seventies around the bay lower 60s for the coast, morning fog in the picture it will come a bit more patchy as we head towards the weekend. adding out and sing out. >>

morgan. the first of the big banks to report earnings is feeling more comfortable with its outstanding loans. j.p. morgan set aside half as much money in the second quarter for bad loans compared to last year. the bottom line profit at the bank was much stronger than anticipated. it set aside $3.4 billion during the quarter to cover bad loans. all this week, we've been looking at sector earnings. tonight, fred cannon, co- director of research and chief equity strategist at keefe, bruyette and woods, joins us to tackle the financial sector. fred, welcome back to "nightly business report". >> thank you. good evening, tom. >> hudson: how about the tone set ahead of tomorrow? >> i think what they wanted was better capital and credit and those are putting the overhang on the financials for quite a while now. that being said, you didn't see the stock being traded, because you have the head winds that people are concerned about. but bottom line, it was a strong quarter >> hudson: and the individual

and then enter morgan hill.is a crock hours during the fog thickened enough keeping it in the forecast of 7:00 a.m. still driving much of the east bay and peninsula. many in will continue to see fog out there, i will deepfreeze slow to live in mexico today for a temperature of 53 in san francisco, area down in the south bay mid-50s. into the afternoon really only get into the '70s. it is a cool once again upper seventies do santa rosa sonoma done to mill valley 76, cool along the peninsula elisabeth queries for san francisco and along the coastline low 60s could dip into the '70s for. as we had ever to hayward, union city berkeley and oakland sinkhole really does low to mid '60's getting some '80s is yet further inland. 77 and said clara, 80 in petaluma. here is a look at your 7 day around the bay. pretty consistent forecast, up just a gradual ever so slightly warmer as we had through the rest of the work week into the weekend partly cloudy conditions expected for your setup from sunday. james. >> thank you, a c

>>morgan: what we've decided to do is go for a really low carbon car - and in order to achieve thatwe've got to be quite clever, and it's going to be unlike anything that's currently on the market in 2010. it's going to be what we call an extreme hybrid, so it's basically a generator on board thatproduces your own electricity. >>reporter: it's not new technology - diesel electric engines have been used in trains for years but on the road it can increase the range of the lifecar dramatically. >>morgan: this is a pure electric car if you want it to be, and of course you can plug it in, but producing your own electricity with a conventional diesel tank means that instead of having a range of 100 miles we're going for a range of 1000 miles. >>reporter: and with algae based biodiesels increasingly looking like they might be able to supply a real alternative to conventional fuel, we could soon see vehicles like the lifecar being used as apersonal power plant sitting on every drive, providing an essential back up should your local powerstation be unable to cope with demand. >>motorcycle trials

morgan became the latest company to report strong quarter results. a.o.p. in markets have also gone into first london and frankfurt are now down about half a percent. when you raise your natural resources are top losers on the pussy nearly four percent down and financial shares are weighing on the desks here in russia equity markets finished in the red cross nafta was the biggest loser on the r.t.s. falling two percent and it was high though shed over three percent although my six . the winning streak for the equity markets which is it lasted more than a week was broken on thursday and david view from beachy c b g c partners in london explained that investors couldn't continue to hide from economic reality. equity markets have been heading off in their own merry little way tending and trying to ignore the quality of the economic data which actually hasn't been very good really from the last friday well the first friday of this month when the employment data was again disappointing yesterday we had a very modest rise in retail sales point five percent which

for the fog is touching down into morgan hill. jose, livermore valley or by the 6:00 hour we're going to continue this widespread. as we had gridlock we will see a list .... elect a little bit quicker than it did yesterday. a little bit of a warming still below average. a live in a flat, we will see a better mixing out. as we head into the afternoon debitors are expected to jump up into the seventies bewray now 52 degrees and is in his sister, redwood city opportunities for men and you, here is a look at your 7 day around the bay. which gesture was getting into the upper 80s and some of the warmer inland spots upper seventies around the bay. lower 60s for the coast and then by tomorrow a little bit of catching morning fog temperatures start towards the upper 80s. distorting than 90 degree mark, saturday looks like a worm is it the beginning of the '90s. upper seventies around the bay% a gradual cool down. great for us for this month. >> we are following let's talk for truckers and the lovely but their story, here's the bay bridge

temperatures right in line of yesterday, that means mid-70s, san jose, mid-80s inland, livermore, morgan hill, a sneak preview of your weekend weather as well. i think it will trend warmer sunday into monday. that is a mile start to august there, numbers inland, only in the mid to upper 80s through the next seven days. back to you. >> thank you very much. >>> want to check your friday morning commute a couple of accidents, construction, stuff going on early morning this morning. >> for a friday light what we usually call t take you to an earlier sig alert southbound 880 at westbound 237. transition, see all the backdrop of the rights, the off-ramp affected, but now at activity off the off ramp, 237 a distraction four, guardrail repair has to go on later on. follow for the rest of that 101, 880 southbound, don't think of using that yet, open in half an hour. back to you guys. >> thank you very much, mike. >>> later today, more than 50 south bay firefighters will be kicked off the job, one fire house will close its doors for good as nbc bay area's george kiriyama reports it is the first ti

a little bit below average share was mid to upper '70's morgan hill high of 87 degrees.he here is a look at your 7 day around the bay around the bay and as the temperatures and wind. falling off the next few days we go from the upper 80s today to the low and mid '80s the next few days so monday, tuesday and wednesday. temperatures near the bay stain cool to mild in the mid to upper 60s. and that's were going to say much of the week but it looks like things will start to warm back up towards the end of next week and into next weekend. now if you're looking for something to do what should be lovely get around the bay here's what's going on is san jose the first annual tie festival kicks off this morning it starts at 10:00 a.m. it's taking place next to the children's discovery museum curator and san francisco stern and grove festival presents an italian superstar. the last day of the gilroy garlic festival kicks off at 10:00 a.m. and includes a big garlic festival cookoff. kron 4 stop by to taste some of the sticky but delicious food. so we here are my channel for listener

a morgan hill attorney convicted of money laundering.e accepted two checks from a company called silicone valley resale. the prosecutors say the checks were money from a sale of equipment stolen. the jury took three days to decide they were guilty. she'll be sentenced in october. >>> the owner of san francisco restaurant is planning new security measures for this mannequin. it was stolen three years ago. it was part of a mannequin of baseball legend lefty o'dole. last week they received a package with the arm. they took the arm for a three- year joyride. >> went on sleigh rides, went to the state capitol, got his picture with a lot of women. >> the mannequin is back, greeting customers, but the owner plans to have a reattachment ceremony and will insure the arm for $1 million. also plans to send bloody mary and margarita mixes to that address. >>> the team is planning to begin a series in taiwan. this wouldn't be the first time. the oakland a's opened their 2008 season in japan against the boston red sox. >>> time now, 5:57. back to sal

morgan, morgan stanley they paid back the t.a.r.p. funds so he has little leverage to say give us the money back because they'll say back to him, we already did. >> a lot of the banks that did pay back the t.a.r.p. money, some of them made presentpy -- pretty clear they were doing it to avoid the pay strictures. >> oh, yeah, they made no bones about it. the banks immediately contacted treasury and said we want out. i mean, some of the banks couldn't get out, b & a and citi, they had problems and they had to stay in. but some of the others couldn't live under the strictures. >> now ken feinberg didn't name any particular names, but he said that citi was pretty egregious. >> and there was a man named andrew hall who made $100 million, he was contractually obligated to be paid the money, and it was a big fight between feinberg and citigroup earlier this year -- last year, basically, when he was trying to get that money back. citi wound up selling this unit to get rid of it. but in 2008, they made that payment, and, you know, he found it

we should see some mid-80s by livermore, concord and fairfield, morgan hill warming up. in fact, by tomorrow may get close to 90 in some of the warmest places so given how mild the summer has been that may feel a bit like a substarm warm-up. around lake tau thouhoe, temper in the 80s. we're expecting thunderstorm-free for the next couple of days. 78 in san jose, 80s further inland out toward the delta, vacaville, petaluma, 74. the seven-day forecast is starting to warm up inland, not much change on the coast, but not quite as cool as the last few days. then we'll cool off a little bit mondz and warm up again middle part of next week. >>> take a look at this, rob. a rare sight you had to see to believe in north georgia. this zee dunk was born a week ago, half zebra, half donkey. the father is a zebra and mother donkey. the man who owns the fawn says in 40 years he's only seen one other zedonk. so far, the zedonk seems to be healthy and doing well, named pippy longstocking. >>> time now, 5:26. president obama appeals to pop culture. he plans to sit down with ladies "the vi

morgan hill, low 70s and low to mid 50s around the monterey bay.g to 58 at at&t park. most of us will be in the 50s tonight. cloud cover everywhere with mid to upper 50s for the rest of us. seven-day forecast, this air mass holds one more day and then the winds will subside off the ocean and four degrees of warmth on thursday and couple more on friday. look for mid to upper 80s and mid to upper 70s around the bay. >>> lane change in hayward, not slowing anyone down. you have the two right lanes connecting to 92. rest of the bay area showing how good traffic is, fine at 280 and 17 interchange and at 17 across your screen heading towards 880. 101 in millbrae, northbound heading into san francisco. 101 also is fine in the north bay with a live shot here in san rafael. drive time is 9 minutes toward novato toward the richmond-san rafael bridge. interstate 80 in berkeley, 19 minutes to the maze and no delays at the bay bridge toll plaza. >>> hefty fine for bumping passengers as new list reveals the highest paid ceos in the u.s. >> here is jane king. >>

there were a couple of standouts, morgan stanley and well wells fargo. unlike competitors, it's trading business was a bright spot. the c.e.o. at morgan stanley thinks earnings will be choppy over the next few quarters. wells fargo, the stock here a fractional gain, but on heavier volume. similar to other banks, it cut back on the amount of money it is setting aside for bad loans. the weakest financial stocks included s.l.m., and regions financial. sally mae raised its profit forecast, but also set aside more money to cover student loans going bad. technology did see a mixed bag of earnings today and reactions. e.m.c. turned in better than expected earnings. it's forecast was better than anticipated as well, but by how much remains to be seen. and that lack of clarity sent shares sliding. the stock dropped by almost 4% down to a tw two-week low. western digital was the leading loser in the sector. it fell to a two-week low, and after the close, shares came under more pressure after missing profit estimates. one to watch tomorrow. coca-cola was the best d

let us take a look at what up in antioch. 64 in inland, 57 degrees in morgan hill.w average of through next week. pit >> six people are dead actor a greyhound accident, they were trying to avoid a crash in the center divide. and after people interviewers, they cannot believe that. >> a black bow hangs over the door, and sylvia was a dedicated hairstylist to look forward to getting her cosmetology license. >> when she and i worked together, she was a receptionist bush wanted to start to highlights. she really started to do a nice job. >> john sanchez caucuses hergetr cut, and >> her smile, beautiful face, and her hair. she looked fantastic. and now she is gone. >> and her friend, went to the paul mitchell school and fresno. they also died with stephanie cardozo. >> there were all some students, they were here, participated, and it will recall, visionary. >> let us check-in with henry wiz reporting live from his garden this morning. >> yes it was a long commute law and it is that time of year when the garden was looking spectacular and now it is looking pretty good. i

mid-80s in morgan hill. closer to the bay waters 60 to 70 degrees and north of the golden gate bridge anywhere from 75 to nearly 80 degrees in sonoma. looks like the warmest day of this week will be on friday. and then really mild conditions from the weekend all the way into next week at this time. we really want to invite you to share with us all of your fun summertime pictures. this is glorious. ken shot this picture near the foster city area. you can see a couple planes on approach to sfo. thank you. keep them coming to cbs5.com. we'll share them on the cw as well because we just like to share. >> we're into sharing. >> we're good people. >> yeah. thank you. >> you're welcome. >>> how much money is collected at bay area toll bridges in one day? we're going to get our calculators out for tonight's good question. ,,,,,,,, bridges each day. in tonight's good question, leonard marian wan >>> hundreds of thousands of cars cross bay area bridges every day. tonight's good question leonard marion wants to know ho

mid80s for morgan hill and gilroy.ere is your accu-weather seven-day forecast -- warmer afternoons and we saw the temperatures come up a few degrees in some areas today. the upward trend continues for inland areas thursday and friday. and then all areas will see the warming for the weekend with the upper 80s to low 90s inland and mid60s at our beaches. a wider range -- the wide range continues heading into the start of next week. >> yeah, a little more seasonable. >> it is about time. it has been cooler than usual for so long. >> it really has. thanks, sandhya. >>> just ahead, how much of a difference does it make? we'll let you know the research that will make you always want to listen to music when you workout. 1Ñ1Ñ1Ñ1Ñ1Ñ1Ñ1ÑÑ >>> president obama came to the abc studios to sit down with the hos of "the view." >> to sit down with the hosts of "the view." >> we wanted to stabilize the financial system and to make sure we are creating jobs in assisted of losing them. and in the midst of that we had the oil spill and we

complicated institutions that are the big global leaders in these areas like goldman sachs, like morgan stanley, like g.e. capital, not just citibank and j.p. morgan, we're in the midst of a moderate, steady recovery, you have had six months now of private-sector job growth, private investment is actually pretty strong -- it's a recovery led by manufacturing, by production coming back, people making real things that the world needs, and we're saving more as a country today as a whole. it's not getting better as fast as we would like, and a lot of that is simply because, again, this is a crisis in part caused by the fact people are living beyond their means for a long period of time so inevitably we were going to go through a very difficult transition as people saved more, reduced their debt burdens and the crisis caused stunning damage to basic confidence among businesses. again, they just stopped in their tracks, and they -- they were very tentative about sort of coming back and believing again the economy was going to be stable moving forward. now in a transition, charlie, from the im

morgan/chase, the vindicated jamie dimon, they say the resurrection of john pierpont morgan, he apparentlyn private expressions consternation. >> and in public in "the new york times." >> he apparently has designs on doing the magnanimous thing and ultimately rising to treasury or cabinet-level appointment and he will have second thoughts about it now. "do i really want to go into this den of hostile behavior?" >> charlie: last word, you, mr. sorkin, on business and -- do you think this is a breach -- i'll tell you what my impression is -- i think you can heal these kinds of things. i think it is within the power of the bully pulpit and within the power of the presidency to begin to take steps -- it doesn't mean that he will face -- he will get less votes from the business community when he runs for re-election than he got the first time -- >> or less money. >> charlie: or less money, exactly, more importantly, perhaps -- but he will, in fact, be able to speak to the question in a number of ways. >> and i think that actually -- >> charlie: the fact that he hasn't suggests some problem on h

look at our inland spots shgz tri-valley and also places around morgan hill should make a run at the mid-80s. this is a little bit of warming trend that will wrap up the workweek heading into the week kind. cool on the coast but mid to upper 80s inland over the next couple of days. >>> developing story from afghanistan right now. a senior u.s. military official says a second sailor missing in after stan is dead. that sailor disappeared last friday with another man. soldiers found the first sailor dead earlier this week. taliban claimed that it killed the first sailor and kidnapped the second. but again the second sailor is now confirmed to be dead. we'll tell you more as soon as we can. >>> time now 4:40. meet the bay area man who can hack into atms and give them to give up their cash. >>> your afterlife online. it's a new memorial in this information age. see how bay area families are taking tech into the great beyond. >>> the next generation of e-readers giving ipad a run for its money.ra wwe'll take theraps off t new kindle. ff >>> another enticing chapter to get you into the worl

it was 84 degrees in morgan hill but what you can bank on tomorrow morning for your commute, the low clouds, fog, redeveloping along the coast, gradually moving in the bay and our inland areas where it will be patchy, sunrise officially at 6:10. tonight overnight numbers, upper 40s, sea shore, low 50s tri-valley, 55 degrees in san jose, we do have a very deep marine layer that's been off the coast. gradually sliding towards that 580-680 corridor. tomorrow morning will be spinning out rapidly pulling back out to the bay and pushing back over the open waters. so we'll have sunshine pretty much on our southerly beaches. a little around the north beach like dillon and inverness. that is a little disturbance right there, so as that lift that may will you the air mass to warm up with the high pressure strengthening, resulting in 79 degrees in san jose, morgan hill up from 84 to 86. 60s and 70s from hayward back in through union city. east bay district up to 86 degrees discovery bay. 86 in berkeley and pleasanton. looks like the coast will have a little bit of that clearing. from 61 degrees

morgan. thank you. . >> thank you. i do hope that if you haven't seen the exhibit, you will go up to the skylight gallery and see it. the project actually involved over 225 young people who studied the japanese internment through the personal stories of 15 people who were interned or impacted by the internment. and the exhibition highlights the individual stories of each of the japanese americans who came into the classroom, as well as the rich student responses to these stories. the project really gave the students space to make very meaningful connections between the historical event of the japanese internment and contemporary and historical instances of social injustice in america today. but we're here today to meet phillip and chloe, so i want to introduce you to them. phillip also was one of the gracious japanese americans who came into the classroom and told his story. phillip congatonda went to law school and graduated hastings law school but never actually practiced law. he became the

san jose, upper 70 the and morgan hill in the -- 70s and morgan hill in the 60s. dave? >> thank you. >>> well, the death toll this morning has climbed to six in that greyhound bus crash in fresno. we're gonna go live to the scene. you are looking at a live picture there of the wreckable. we have new information from the -- new information from the chp about what may have caused this overnight tragedy. >> reporter: and i'm jade hernandez. police have a warning for residents this morning. that story -- straight behind me. dan: i had a biopsy and i had high-risk prostate cancer. i was depressed. i was shocked. sometimes cancer makes you feel very lonely. the doctors can do their best to cure the cancer, but it takes all of the other stuff to make you a whole person again. i've been given a second chance. announcer: at sutter health, our story is you. for more stories, visit sutterhealth.org. >>> welcome back. 8:2. we're getting new details this morning about a string of early- morning burglaries happening in santa clara. ktvu's jade hernandez is at an apartment complex tha

morgan hill '60s are ready, livermore 60, 56 fremont, 58 hayward, 54 have monday. in the afternoon, 79 novato, 81 sitting to rosa, 82 napa, 91 concord, 91 hayward, 91 morgan hill, as it is our mountain view. here is a look at your 7 day around the bay. it is going to look similar the next few days morning fog a little bit address overdraw morning miles, warm on wednesday that we start to see now is our conditions are thursday, friday. check and your commute there are good. >> taking elected to ride around the bay area, the dodgers are looking pretty good so or not a lot cars are outside, overnight construction on westbound 80. that will close to lanes but still a nice, easy drive just eight minutes in the foot of the macarthur maze into fremont. getting elected directors san mateo conditions are a little bit thicker, still a pretty decent ride nonetheless. as you make your way to commute direction you can see those bright lights making their way into hayward. still relatively low 12 minutes from end to end. wrapping up with a look at the golden gate, just a couple