they are blaming economic problems and uncertainties about the outlook for u.s. economy. it's down about 84 cents. also, a successful debut for home builder taylor moirsson which is trading up about 5%. 28.5 million shares were priced at $22 million. saying that the company has the best strategy of its peers in the it service industry. ibm is up as well. >> two key senators have reached a bipartisan deal on expanding background checks. the compromise was announced earlier this morning. the nra said that expanding backgrounds will not prevent the next shooting, will not solve violent crime and will not keep our kids safe in school. it makes it more likely that democrats will win enough republican support to bring it to a vote. >> thank you. we got a big oops at the fed today. >> all early indications were that it was accidental. at least one person received the minutes exactly at 2:00. that was just the release of the minutes on the wrong day. here's what we know. they were released around 2:00 p.m. yesterday to around 100 congressional staffers. the fed contacting the sec

zynga fell then, bounced back some on a weak forecast.qualcom also fell on its outlook. however, akami shares jumped 16%.. after topping earnings and revenue expectations. and today, federal regulators will detail threats to the financial industry--including high frequency computertized trading. scott bauer of trading advantage is at the ready for some trader talk this morning. scott, who's buying this market? > > i don't think the big money fund managers are out there dipping their toes in up here. what you're seeing is the retail investor who maybe has not been able to participate over the last 6,12,18 months. anytime we see any kind of minor pullback at all they're the ones really dipping their toes in the water now. > > is wall street worried about the economy? i know we have a big gdp number coming out on friday for instance. > > it looks like wall street is a lot more worried than just the mainstream investor because the economic numbers that have been coming out recently are not so great and that's really being reflected in many of the consumer staple stocks that

end on the ten-year, 1.83 is the outlook for june. now, we also asked people why they thought gold had lost its luster, also interested, is there an economic signal from gold. lower inflation expectations was the choice of 16% of our respondents, less concern about global risk, 16%, the popping of a price bubble 24%, a large number didn't like any of the responses. we offered 36%. so let's look at what these others were, and you can see the bank of cyprus selling gold. combination, the strong dollar and the bank of japan's policy, those easy money policies that came out. what is the best investments? still the lackluster returns, 72% say stock, 62% say real estate, you can see treasuries, gold and other have very few adherence, but there are some interesting responses on others that i want you to think about. they're kind of off the beaten path. commodities without gold, one guy wants to be long and short the yin, emerging market local debt was a choice, and developing economy and equities, guys, we're going to come back and talk abou

region so we are going to hear a little bit about the future and some of the priorities and what the outlook is into this coming year and we are really delighted to have awful you here with us this morning. i think there is more than 600 and we are glad that you gathered with us. our tradition at this event is to alternate between the two cities from year to year and last year we hosted the event in oakland which, is why here here in san francisco this year and is to mayor lee thank you for being the host city this year andmary khan thank you for traveling across the bay that very short way to be here in san francisco. so how many of you are feeling optimistic about 2013? can you raise your hand? right? (applause). ism. it just has a feel? it just has that feel it's started starting out at a good space and with opt mission and that's good goods and this is a good year on top of the giant's 49 win and 49ers making to the bowel and this is all going to put more sales in the regional economy and again there is so much business activity. and we are blessed with just being in this part of the cou

extended outlook good, good tuesday/wednesday. getting warmer. we cloud it up and this friday,

. >> the summer outlook is brighter than you might think for the bay area's water and power supply. new at 6:00ktvu joins us live along the american river with the early assessment. ken. >> reporter: frank, we are along the banks of american river. you can see it's moving fairly slowly right now. that's due in part to our record and dry winter that we just experienced. it effects river flow and also effects hydroelectric power generation. as you will see it's not going to effect our power supply as much as one might think. >> lake levels, snowpacks, the state of our transmission lines just a few things factor that go into forecasting our power outlook for the summer ahead. >> over all california is looking to be in fairly good shape going into summer. >> stephanie with california independent system operator says despite a record low snowpack, hydroelectric generation will still be at about 85% of normal. that's because our state's reservoirs remain in good shape. look at three of the top reservoirs. it's at 99% of normal for this time of year. orville at 107%. >> there's only a slig

when i'm outlooking at -- doing graffiti. don't tell anything. when i'm looking at graffiti, i feel like a homeless guy sitting out there. they could use extra bucks. i give them the card. did you see who did is that? yeah, punk kid, blah, blah, blah. go to the pay phone right there, call 911 if you see them doing it and they'll get you a

let's look at the economic outlook.irman in there who is going to take her time about tightening if there's an inflation problem? yesterday we got the month of march using the pce index. it came in at 1.1%. which is the lowest in years. what that tep tells you is that even if you're a hawkish chairman, you would still not see any good reason in those inflation numbers to tighten. you might start to worry that the threat of deflation is arising again. it's hard to imagine a different procedure ben bernanke is assuming now. assuming ben bernanke is not there for a third term, maybe the economic outlook looks different and the choice will make a difference to the policy that's pursued. but where we sit right now, i don't see it. >> greg, all of which, does that help explain the s&p up to rord highs, the fact that the at the time fed is going to keep the taps open or is it at record highs when the economy isn't performing as we think it should? >> those are my two choices, bizarre, not bizarre? i think i find it a bit stran

if my confidence in the outlook, key word outlook, if that increases i would be in a position to make in the outlook. >> steve, that sounds like he could do it before 7. all right. i would love to see 7 but i just need to see -- that sounds like -- you're trying to see they would have to go past seven. he sended like he was saying as we get closer to seven i would do it. >> i can't disagree. i think it's a bit like you're out in the boat. your motor conched out a little bit. i'm not confident i'm on my way until i have gone a certain distance. it could be 100 yards, 200, a mile. getting back to the data, the adp, claims all a little bit soft telling us, hey that, 3.5% from the first quarter iss which is where all the economists are is not going to last. but how soft does it get? >> they are already dated. we're swooning again. after yesterday's adp and today's unemployment, i don't care what they theufplt we're swooning again possible. >> i think you're highlighting what is the new fed way of doing business, which is that data comes in and you automatically adjust your outlook for whe

mayors, we are going to get some expert insight on the economy, the first look at the real estate outlook and then a general economic for cast and the financial market and we will get a look at what is in store for 2013 and once we have heard from the opening sparkes we will get into our conversation with the mayors and then end at ten and so lets get started and let begin the program with a look at the real estate outlook with our long time partner dave crest man who's executive managing director at cornish and carey commercial new mark night frank and dan has been actively engaged in as a brother in the sales and leasing of commercial real estate in san francisco for 30 years and he knows every single building i swear i walked the streights with him on sunday and whoever was in it or owned it. and more recently he managed retail giant mazecies.com and among many many transaction in the pass year please welcome dan crest man: (applause) . >> thank you mary and thank you to the san francisco business times for continuing to cover our industry i would say better than any other publication

it will be dry from here all the way through the seven-day outlook.d the watches and this is the wind advisory from the central veal back to most of our neighborhood but the north bay valley and the santa clara valley where we will have gusts up to 45 miles per hour from now until 8:00 this evening. the gusts will be faster at 50 to 55 miles per hour over the bay water and the ocean so there is a game warning until 9:00. the airport warning is until 5:00 for a bouncy right in and out of sfo but not so much around oakland and san jose but it is still possible. you can see the flag is unfurled bit winds and temperatures, dress for mid-40's around mill valley and up to 50 for palo alto and walnut creek and oakland and san francisco. as we look from mount tamalpais you can see how fast we are at 40 to 50 miles per hour. we have santa rosa at mid-to-upper 40's. union city is at 50. sunny today and winds and spring warmth this week, mainly dry all the way through the seven-day outlook. the low that brought us rain overnight is sliding to the south and the d

the outlook for the second quarter also topping estimates.hange your mind if he knew our government spends $20 billion per year to keep it illegal? 20 states have legalized marijuana in some form or another, medical marijuana or recreational use. with all the nation's fiscal problems and extreme cost measures like furloughs, maybe we can use some of that extra cash in a more productive way.3 joining us now is the man behind the stunning report, thank you for joining us, good to have you on "money." >> my pleasure. adam: you hear the advocates of legalizing marijuana so they can contacted and raise revenue but isn't the biggest gain that we stop spending billions of dollars on the alleged war on drugs and use the money to a better purpose? >> they all go together. we're spending a lot of money on prosecutions, incarcerations for marijuana and there is no evidence for reducing the use of marijuana so that seems like a really bad deal to spend a lot of money and get very little to show for it. but if you think of marijuana use come you're not ch

the extended outlook shows a good bump in temperatures. no means we'll be record breaking. 80 on wednesday. throw in a few showers on thursday and friday. by saturday, the cold front will be here and the winds will pick up. temperatures will be around 60 degrees but the wind-chill factor will make it feel 10-12 degrees colder than that. that is next weekend. >> enjoy the week while you can. >> imagine that you're a caps fan and you were aware for the last month. they were down then back up. >> they are curving. next game is tuesday with six games left to the playoffs. where do they stand now and ryan zimmerman a bit off. three throwing errors this all stations come over to mission a for a final go. this is for real this time. step seven point two one two. verify and lock. command is locked. five seconds. three, two, one. standing by for capture. the most innovative software on the planet... dragon is captured. is connecting today's leading compmpanies to places beyond i. siemens. answers. >> now the toyota sports desk. winner, the winner o

the outlook not so hot either. they were lowering their outlook. u.s. equities at this hour.10 points. >> exxon was one i thought might miss. >> why? >> gas prices have come down a bit. commodity prices, oil price, everything else. and, you know, exxon was one of the ones i said, wow, other big -- i think of the masters portfolio. exxon, at&t and ibm. >> ibm had real troubles. >> i don't think they missed on their numbers necessarily. there are some troubling things some people saw. exxon home up 69 cents. >> earnings continuing to help with s&p. the next guest says the lack of revenue growth is concerning. joining us is chief investment officer for wealth and management of barclay's in the america. you're absolutely right. a lot of companies missed, including 3m and dow chemical. revenue was lighter than expected. they were able to beat in terms of the bottom line. what's going on? >> we should not be terribly surprised. we figured the first half of the year would be slow. and you think about it, on the 15th day of this year, we had a tax increase, right? so it hit everybody

it's linked to his confidence in a positive economic outlook.then goes on to give something of a test for what it would look like. several more months of positive data, especially in the range of employment data, would give me confidence that the economy has real traction. he says in his speech that they have diminished, despite cyprus, less potential shock from europe than a year ago. business op mitch in the u.s. is on the rise, and po, he ghoes on to discuss better data for housing and the consumer, says concerns about the consequences of quantitative easing are quite valid, but then he essentially answers in one by one, saying they don't rise to the level of him voting against additional quantitative easing. he sees growth just a bit north of 2% in 2013, but worries that the unemployment rate could rise with a better job market if the rate increases, sue, say that ten times fast. >> steven some of the newswires have him using the word tape-a-rang. i'm hearing behind me a lot of the guys want clarification on the language. >> well, what i kno

what's the outlook? >> not only did the results for the business sentiment by the central bank show improvement for pressing conditions, it showed corporate managers are optimistic about the earnings outlook as well but they remain cautious about investing in new facilities. the report shows executives at large firms predict sales will grow more than 1% on average across all industries from a year ago as a weaker yen lifts exports. that's for the new fiscal year that just started on april 1st. these executives also expect current profits to grow for the first time in three years. they're forecasting gains of more than 6%. managers at manufacturing and nonmanufacturing firms forecast a decline in capital expenditure. executives at large firms across all industries expect capital spending will fall 2% on average. that will be the largest decline in four years. u.s. stock markets ended lower on monday as they followed negative sentiment stemming from lackluster data from the united states and china. the dow

and i know that that surgery sort of changed your outlook

i will let you know how long this will last in the seven-day outlook. mike, thank you. a massive worldwide recall involving four automakers because of safety problems. >> and we suffer from allergies, and it turns out certain foods can make us feel better. >> santa rosa, berkeley, san jose, and all bay area, this is abc7 news. >> crews with the national weather service are investigating whether tornadoes are to blame for damage that left communities devastated. six tornadoes were reported across the region overnight. missouri has declared a state of emergency, tens of thousands are without power. downed trees crushed several homes northwest 6 st. louis and left a path of damage that stretched a couple of hundred miles arm to northern arkansas. >> a southern california man is in critical condition at this hour after police say he deliberately tried to saw off his own arms in home depot store. the scene stunned shoppers at the store in a los angeles suburb. witnesses say he grabbed several hand saws including one meant to cut sheet rock and literally cut both arms to the

outlook. i promise my staff -- not my staff, my team, our teammates -- not to give away their bunchlines. so dave will say something about the fed. then we're going to have barbara who's a research fellow here at the institute, barbara joined us a few years ago from the inter-american development bank. she's been or very active in our trade program co-authoring recently on tpp. but her real expertise and love is latin america. she's currently doing very interesting project for us on latin american infrastructure development and has a book coming out in a little while about what happens next in cuba which may give you some hint of the kinds of things she's going to talk about today. and then finally, we have a man who has become to europe in this washington what -- in washington what nick is for china, jacob kirkegaard. jacob is, i'm proud to say as i know fred joins me, is our home grown talent of this generation. and is now a senior fellow and also a rock star, many of you hear him regularly

a leak outlook by some expecting by just 1.6% could be that bad? by next guest says we could see a surprise to the upside joining us now the chief investment strategist for ubs wealth management good to see you. >> this is a nice rally today. not typical of monday to see the upside. your thoughts? i know there was some tremors because of foul call was. >> today's rally have little to do with the earnings season may be more from the fallout of friday and with japan although it was weak the economy is not rolling over but at of japan's central bankers of pride -- provide the support that the business managers are looking for. lou: that is shocking. so many say i hate and bernanke and we need to pull the punch bowl away and how will you accept for -- exit kiwi three now the markets are cheering one point* four stimulus by the bank of japan? i don't know it seems like insincerity on the part of some. >> when you see the market reaction they have to deal with the reality of the central bank's that said we will do three things. we will take the risks awa

. >> we talk with the company's ceo about the numbers and the outlook. >> building your nest egg. new strategies to protect your retirement savings. >> all that and more coming up on "nightly business report." >> good evening and welcome to our public television, viewers. a big management shake-up late in the day. >> right after the market closed, the ceo, ron johnson is out after just a year and a half in the job. now mike ullman has been named interim ceo. j.c. penney's sales dropped 25% in johnson's first year at the helm, and then during his tenure the stock tumbled 50%. >> joining us now with more on what happened and what's next for the company, our courtney reagan. >> good evening to you both, tyler and susie. i'm actually standing outside the new york courthouse because earlier today the trial resumed between macy's martha stewart. johnson's turn around plan just hasn't taken hold. sales down precipitously and now it appears that johnson is stepping down. that is the wording that was used in the press release. and interim ceo will be mike ullman. he was the ceo before ron

the international monetary fund has upgraded japan's economic outlook the next two years on expectations the country's bold monetary easing policy and weaker yen will help boost its economy. imf officials released the world's latest economic outlook and slowly downgraded the world economic forecast. and predict it will grow 1.6% this year, up .4 of a percentage point and they doubled the growth forecast next year to 1.4%. they expect the bank of japan's aggressive monetary easing to boost the growth rate. >> japan is forge iing a path o its own. it may have been more likely to call this a 3 1/2 recovery rather than a speed recovery. >> although the yen value has declined significantly in the recent past, the monetary policy followed by the boj is appropriate but at the same time, imf officials urge japan to work out a long term financial reform saying it is not sustainable. the imf says japan's debt will balloon by 2 1/2 times its domestic gross product by 2018. >>> the u.s. housing market is recovering. the latest figures for new home building is back to the levels of the collapse of le

wait until i show you that seven-day outlook. you might be blown away when i show you your highs for tomorrow. lots to talk about in the seven-day. coming up next. let's check the drive. good morning, mike. >>> my seven-year-old must be listening to you and your terminology. yesterday, he goes, yeah, it is the pollen. he listens to you. doesn't listen to me. moving over to fremont. light volume of traffic northbound side. look at how much space between cars. very little traffic. on the maps, a little bit of slowing north of this camera shot. likely, a few slower vehicles skewing the data. no problems north of mission for 680 or 880. a smooth drive through the tri-valley. it registers slow from dublin in through livermore. there may be reports of one cone or some sort of debris heading eastbound. that's about it. meanwhile, that's your commute in your direction. west 580 and south 680. earlier wind advisories have been lifted. >> i promise you, your 7-year-old is going to pay attention to this one. have we got a scoop for you. tal

. >> the economic outlook is bright. it is been booming bavaria. the state boasts near full employment. businesses like this are wide. it is an engineering firm. residential -- residents are up, order books full. it provides a snapshot of the wider german economy. one of the country's leading think tanks believes it will keep on growing because there are tentative signs europe is on the mend. >> these figures reflect the diminishing uncertainty and the fact the markets are now calmer. >> the think tank's forecast is much more optimistic than the german government policy official estimate, and ultimately, there will be exporters who decide who gets it right and who gets it wrong. >> onto thursday's market action now, after trading higher for much of the session, the day's gains were wiped out after data out of the united states fell a bit short of expectations. our correspondence sent us this summary from the frankfurt stock exchange. >> investors seemed to think the same as the main economic institutes do that the german exporters will be able to g

we have limited idea what the political outlook holds and therefore we remain in wait and see mode. the outcome at least in my view is not foregone. spain is a difficult question because spain fiscal outlook is degrading rapidly. >> what explains the market activity today? is this a fair market? we see sovereign debt in spain rallying today. what's going on? >> i think if you're a fundamental analyst you are probably very confused right now. however, i think what we're seeing now is primarily technical in that the markets are testing some important technicals. the trend line supports dates back to june 2012. i think we didn't really want to get through that and that factor combines with the fact the u.s. equity market is testing that level is driving markets higher. i think it's fundamental and i think volumes are quite low as approximate it is post-easter. >> we have had people asking about fundamentals in terms of great rotation. are we seeing major flows from bonds to equities. you say that it's the opposite happening. investors are moving from equities into corporate bonds drive

based on your crude outlook, what does that mean for the retail gas picture?est you know, brian, let's face it. if crude oil is $120 a barrel, nobody is going to care if gas is at $350 a gallon. i do not see a record this summer. i think what we saw earlier was the margin to take crude oil and produce gasoline was very high. so it forced refiners to produce as much gas as possible. and in the gk gulf coast, you're seeing a lot of supplies out there. gas supply res tight on the northeast and that goes back to sandy and what happened there when the refineries were off-line. i do not see a record for refineries this summer. certainly if we get some geopolitical event or some major refinery problems, then all betts are off the table. but demand in the last five years, cars have become more fuel efficient in this country. actually, 17% more on the road right now. so i don't see gas rallying to the levels that we've seen over the last few years. >> so all that is going to be good news for u.s. consumers and the all-important driving season. one final question, antho

i would like to if at all possible, see what the build outlooks like, what the plan looks like and i know there are explorations around the amount of money it would cost and whether or not the financing through bonds are an option but i want to really understand what that actually looks like because i think that's really extremely important because they be and only then with a specific plan around the build out we can expect when the jobs will begin to roll out. so seeing a clear concrete plan is important. i want to be able to advocate aggressively for this program but i want to have facts and want to say to my constituents this is my program and i want to make sure we are doing it right. so i would like to understand exactly what this means in terms of jobs and in terms of the impact of industries, in terms of the build out and what that means as well as what does this other county do to keep the rates down. i do want to figure out a way in which the rates can be reduced. i think we all have that same goal, but i would like to look at those particular avenues. thank you for being h

deeper than expected loss, lowering the outlook.sure and weighing on the dow about 19 points to the downside. that is the latest here, back to you. cheryl: nicole petallides. dennis: this hour he is drilling with profits. charles: i like your just a moment ago. this is a blocking oil play. recently they have pulled back. i know crude has pulled back a little bit. this is a company, harold hamm is the guy who runs the company, he has been a maverick in this space. one year he drilled 27, these are the kind of guy to follow, they are pioneers in drilling. he says 24 william barrels of oil in nevada. the government will not allow them to go that far because of certain parameters but he has no doubt about it. they are equivalent to up 83%. they are sitting beautifully. i think the stock will turn around, go back up toward the 93 area. cheryl: i think what is so interesting about any of these drillers, those with cuts mentay like continental, there is so much oil down there. charles: he has sunk a lot of money in the last election and it

. >> for the pc business, the outlook just went from bad to really, really bad. more expected a strong start to computer sales. things always slow down for hp, dell and apple after the holiday season. but these days they have to contend with smartphones and tablets stealing away customer attention and dollars. analysts were expecting pc units to be down, less than 8% from the first quarter last year. research firm idc dropped this bombshell. pc shipments down about 14%. >> been kind of a fail in cuts. every month, pc demand falling a little worse and ultimately, you say, wow, this upgrade cycle is still coming, the story is similar. >> and stocks of companies that rely on pcs relying the pain, consumers spending more on affordable touch devices and not impressed with microsoft surface tablet and windows 8 which tried to blend the touch interface with traditional pc software. >> i think windows 8 is not enough on its own, because it's got tablet capabilities and notebook capabilities and the tablet capabilities kind of get in the way if you want it for a notebook

the cfo described the economy as challenging, he confirmed his company's 2013 outlook. nasdaq and the s&p 500 both closed a tiny fraction higher. >>> encouraging housing news. applications for new mortgage loans rose 1% last week as rates on those mortgages kicked lower for a fifth week in a row. most of the new applications came from current homeowners refinancing existing loans. but at a cheaper rate. >>> many of those current homeowners are staying right where they are and taking advantage of lower mortgage rates. many would be home buyers are snapping up newly constructed houses, almost as quickly as they're being built. and that's driven some home builders to do something we haven't seen since the housing bust. building houses first on spec and then trying to sell them. diana olick has more on this old new trend. >> reporter: steven paul says he should have no problem selling this five bedroom home. he built it without a buyer. something he hasn't done much of in the past eight years. >> we're monitoring the resail inventory of listings for the last 18 months. and

and the outlooks are going to be lower.ve high pes, that's a recipe for lower earnings growth and the market could take a break. the last three years, you've had the phenomenon of selling in may. you're going into may and the last three years, the market has sold off a pretty decent amount. >> is this the reason technicians love this market. there's such a fair amount of skepticism, every time you turnaround, people are saying, where's that sell-off? >> and we have one right there. that's why people this is going to continue to go higher. >> i'm going to start calling this market the rocky balboa market. this market can take a punch. we saw those numbers come out on friday, they look terrible, the employment numbers, but the market kept coming back, just like rocky did. here's what we want to look at. if there's an area that has led this rally, but i don't think it's going to lead the rally going forward, it's bank stocks. three things happening there. one of the things that we're seeing is that we have a shaky outlook as f

analyst second quarter outlook is below analyst estimates.ountry has long been ultra conservative with its guidance. amazon stock down 3% in after hours. >>> at the same time, starbucks second quarter profits grew 26%, in line with forecasts. revenues came in slightly shy of estimates. global-store sales up 6%. starbucks is raising its full year earnings outlook and affirming revenue guidance. sales are down 2% on that revenue, about 1.5%, 1.6% in frankfurt this morning. for a company like starbucks that frankly is pretty mature at this point and there is certainly no lack of outlets, it's amazing they could still put in a 6% sale-store sales figure and that they're still standing by their growth. i'm impressed with their performance, nevertheless. >>> italy tests bull markets again after the euro fell to lows earlier this week p we'll bring you the breaking results when we come back. welcome to the new new york state, where cutting taxes for families and businesses is our business. we've reduced taxes and lowered costs to save businesses mor

tonight, in the mid-40's to near 50 at the bay the seven-day outlook shows temperatures warmer tomorrow as it will not be so breezy. saturday will be about the same and sunday, another cold front, and a drop in temperatures with wind on sunday into monday. have a great day. >> we are taking a check of the drive to san jose at 280 northbound coming away from 17, the headlights are moving along with no crabs and no crabs, really, anywhere. as we look at the san mateo bridge it is hazy picture there, but we have a high wind advisory for that bridge and traffic is moving well out here. now, speaking of witch, we also have some construction that is set to take place starting tomorrow for the next two weeks at the toll plaza along the san mateo bridge. that is going to involve the installation of the new automatic tolls so when you get there you may run into a bit of traffic so give yourself extra time when you head out. that is a quick look at the drive from the central valley down to 63 miles per hour. but, still, doing well headed through the altamont pass into livermore and to dublin/plea

the outlook is fairly week.rease by 1.6% compared to 6.2% the quarter before. compared to positive revisions it marks the worst pace in 12 years. again, these are low numbers and there are a lot of questions whether the market can jump right over. >>> another food recall. 17,000 portions of moose lasagne has been recalled after traces of pork were found. 1.6% pork in that moose lasagne. it was a new product that had only been on sale a month before it was pulled. moose meat is common in sweden though typically is not used in lasagne. >> take a look at the u.s. equity futures. up 21%. s&p up by just over three. [ penélope ] i found the best cafe in the world. nespresso. where there is an espresso to match my every mood. ♪ where just one touch creates the perfect coffee. where every cappuccino and latte is made at home. and where i can have exactly what i desire. ♪ nespresso. what else? >>> >>> welcome back to squawk, effect. let's look at some of the stocks we've been watch anything today's trading. general elect

i can't wait to show you the seven-day outlook and help you get prepared for a major heat wave in the bay area. that's coming up next. 4:38. actually, 4:39 with mike. >> time flies when you are having fun. on this commute, you are going to move smoothly. at the bottom of your screen, lower left-hand corner, that pole, that's the flag pole. we saw that flag pretty much perpendicular to the pole. things are much calmer. good number of cars both directions. past fremont. the map in the same area for 880. 680 makes the bend coming out of sunol and into fremont. they are doing that b.a.r.t. road work there trying to get to the south bay. that won't be for a couple of years. you can take 680. there is a crash reporting south 680 at the off ramp. that may still be an issue. it sounded like there was still some activity. it didn't sound like there was injuries. we will continue to track that. that's one of your major commute routes. 580 westbound and 84 through riverton and pleasanton. back to you. >> thank you very much, mike. it is 4:40. plans for an executive terminal at san jose's airport

. >>> policymakers at the bank of japan have upgraded their outlook for consumer prices. they project that the country's inflation will get close to the 2% target in fiscal 2015. the central bank held a policy board meeting on friday. the policymakers say consumer prices will rise 0.7% during the current fiscal year through march 2014. that's up 0.3% from their most recent forecast three months ago. they say prices will go up 1.4% during the next fiscal year. that's up 0.5% from the previous estimate. the policymakers say the inflation rate will reach 1.9% in fiscal 2015, that ends in march 2016. they cite the impact of the boj's monetary easing measures and the yen's decline as reasons for their revisions. the boj governor is confident about achieving the 2% target in around two years. >> translator: each board member has his or her own inflation forecast. i think many members believe that the rate will reach 1.9% by the middle of fiscal 2015. >> the board members agreed to maintain the current monetary easing measures. kuroda said as a result there are encouraging signs

so it is not a one year or a one quarter adjustment, this is the adjustment for numbers and outlook forhe company before we hope we get back on track. that is the part we are going through. first-half numbers of caterpillar will look ugly, $7 is a hopeful number, feasible for 2013 but the big question is are the numbers up or down in 2014? that is no certainty, that is what we are watching for. the consensus estimate $8.93 is considerably too high. probably materially and we need to have the stock stabilized and positive outlook for the commodity sector so the mining can talk about it in 2015. '13, '14 are pretty weak. >> revenues come from the mining business at 50% of the profitability as the mining business does bad in 2013, and i agree in 2014 metal become smaller and smaller part of the company. we look at the other stuff they do, power generation equipment, construction, there are a lot of other things in the portfolio, so everybody is just talking about mining, but there's a lot more there. tracy: i look at this and say that i want to be buying caterpillar right now with that sto