so what we have is between the sort of coming you know, the early 1990's and the mid 2000's we have a great surge in the private debt in both the united states and the united kingdom rising to historic levels and those levels of debt are unsustainable and eventually they will explode and the same thing happen to the reverse was happening at top the had to borrow to keep that output if they spend on the investment or the economy then we might have been able to sustain that kind of imbalance but of course they couldn't. what happened is this buildup of hot money that circulated around the world in research on the highly profitable returns and most of this money not spent in areas that were not productive so they got spent on the property speculation scum on the commodity speculation, perhaps above all on the business restructuring. so we have a huge merger and acquisition boom in the united states and in the united kingdom. what all this did is increased asset values and house prices and property values. it increased the values of business so you have a stock market surge in about 2,003

the dow and the s&p posting their biggest three-day gains since the beginning of the year. in fact, the dow is back above 15,000. there's only one trading day left in the quarter so it's certainly going to be interesting. want to know what you guys are doing as you watch this rally, maybe it's caught some people by surprise. guy? >> it shouldn't. judge, we talked about this on monday. we said the s&p traded down to past resistance. past resistance becomes support. we talked about it trading back to 1620 by week's end. here we are now. i still think last week's outside week technically was very destructive this terms of how the market sets up. i think we'll make a push maybe towards 1625 tomorrow. i think you can trade from the short side against that judge. >> anthony, you have been skeptical that the market could rise without the liquidity driven fed behind it. seems like the market may have overreacted to the fed speak of last week. >> you saw terrific jaw boning from an old colleague, bill dudley today. yesterday he gave a very impressive speech. he was indicating throug

mid-to-upper fists -- 50's along the coast. id 70's through the north bay valley and the beaches, also, upper 50's and breezy film, and mid-to-upper 60's for the eat bay shoreline headed to castro valley a warm spot at 70's and 76 at san ramon as the breeze comes up, and everyone else is in the upper 70's to low 80's so the breeze is not giving you as much as it is, say, in san ramon. temperatures in the low-to-mid 50's tonight with thick cloud cover tomorrow and tomorrow is the cool of the day in the forecast and hardest to get rid of the clouds and as you head through the forecast it will warm above average on thursday and the 90's inland so, friday, saturday, numb, mid-80's, but cool at the coast and low-to-mid 60's. >> the east bay approaching the recreation area we have this accident long westbound 580 at keller avenue. it looks to be blocking one lane but it is a solo vehicle crash. we do not have delays but we have green only. top speeds in both directions right now. to the point there is a hit-and-run accident at 121 pos

this is the pied piper of the s&p. particularly on the day when the fed had the meeting and this was going down, the s&p was kind of staying the same and then it followed it. well, i mean, the interest rates were going up. the s&p was doing nothing. and then when the s&p saw the interest rates go up after a little bit, this thing, boom. this tells you first that's why we'll follow it. now, do you think i'm being too binary? there's an interesting question. no. i'm just old. i've got a memory for previous periods of interest rate volatility. i used to trade bonds for a living and then the interest rate competition for bonds. i cared more about the bonds than stocks. the bond market was much bigger -- is much bigger than the stock market. if rates were going higher i went net short, i had more money bet against stocks than against them. if rates were going lower i'd try to get more long than short. i let the bonds determine how much i was doing. i figured that the bond market was going to be right and the stocks would be

the nasdaq and s&p are all higher, as our "street signs" mottos go, everything's fine. thanks for watching "street signs." mandy's back tomorrow. the "closing bell" is next. >>> hi, everybody. we're into the final stretch. welcome to the "closing bell." i'm maria bartiromo at the new york stock exchange, where it is a comeback thursday. this market trying to complete a major comeback. the dow trying to avoid the first three-day losing streak this year. that, alone, is extraordinary. >> we haven't had one. >> exactly. i'm bill griffeth. it's setting up to be a very, very interesting final hour of trade. volatile market in the focus of today's program. we've had the currencies really dictating this play, an unprecedented turnaround. lately, with the japanese strategy to try to lower interest rates and the value of the yen, there's been a long dollar/short yen strategy out there for several months. today, it reversed itself big time and sent our stocks down, until they came back again. it's very crazy. trying to make sense of this. >> we were down 116 points bill, on the lo

inland upper 50's and mid-70's by noon, and by noon if it is in the 70's you are on the way to a remain warmer afternoon and upper 80's inland, and a nice comfortable night but we are talking about a cooler weekend that the last with the details ahead. >> this is along the maze westbound 80 on the bay bridge westbound direction at treasure island we had an early stalled car which made the pinch as you making the drive away from emeryville to san francisco so 39 miles per hour and we are down to 19 miles per hour closer to the toll plaza. at maze you can see caltran crews are picking up cones with quite the backup at 14 minutes from highway 4. the san francisco police are standing guard at the foam hayes valley farm a day after the police raided the occupy protests and senator everyone out and made arrests. amy hollyfield is at the site with a promise of protesters. >> police are making sure the proffers do not get back here in the garden and have shut down a block of the street. officers are protecting the perimeter of the garden. it is surrounded making it tough for anyone to sneak in.

the b.o.'s but the real reason the b.o.'s was set up was to have a place where central bankers could meet in conditions of secrecy and under very strong legal protection the bank was founded by an international treaty in one nine hundred thirty and it's the only commercial bank in the world that's protected by an international treaty. and that the treaty of versailles. the hague treaty ok or and then in the early one nine hundred thirty s. germany stopped paying reparations so what was the role of the b. i asked once that's happened. the story of what happened after the reparations is symbolic of what the b.o.'s has done through the decades which is continually reinvent itself according to the needs of the times so that germany stopped paying reparations in one nine hundred thirty two in effect so really there was no need for this spring to carry on existing but the bronx swiftly remodeled itself as the prime meeting place for central bankers from around the world and the directors used to meet

the horizon. check out this s&p 500. ook at the two together, sebastian thinks they still paint a fairly bleak picture. let me walk you through it. see the vix keeps climbing. while the s&p keeps breaking down. that's the pattern. sebastian, that means there's no currently no sign that the pain is going to end. in his view this is a pattern that says that s&p will keep going lower. and the vix will keep going higher. so how is this situation going to play out then? well, when sebastian called the sell-off his reasoning was based on historical examples of when the vix spikes but the market doesn't. consider the charts from 2011 when the exact patterns showed up. back then, the vix started climbing. you see this climb. the s&p started dropping. see that drop. that's where we are. and in a similar case. now, they did it aggressively and it started before there was any downgrade of the u.s. debt. you see this was all before the debt and then the big worry at the time. in 2011 the s&p got obliterated in august. as the vix spik

below average with our temperatures in the upper 60's at 4:00. by 7:00 we are in the 60's. clouds arrive late inland valley holding around 54. you will be sunny and mild at 74 where we have the biggest drop at 78 at 4:00. and a comfortable 68 by 7:00. now the morning commute. leyla gulen? >> except for congestion, the rest of it is comfortable and we had a solo cash that just cleared in the east bay along westbound 580 at keller avenue. if san jose, this is where we have a construction project that will last until 7:00 a.m., southbound 880 between highway 237 and south bay freeway to great mall parkway we have a couple of lanes blocked with cones picked up at 7:00. right now, in san jose, again, 897 beyond the julian off-ramp is six minutes to make the drive from the northbound direction to h.p. pavilion. >> breaking news now in san francisco public works crews are expected to arrive to start chopping up a tree that is blocking one of the business of the streets in the city right now. matt keller joins us with what is happening on lombard street. is it affecting the golden g

the s&p 500 backsliding. the nasdaq climbing. at the same time, though, you can't fear what's happening around the world. you can't let it control you. in fact, if you want a profit while others are panicking all around you, then you must harness the fear of what's happening in the rest of the world. got to do good. if you don't know it yet, i am an early riser. before my chair comes over and beats the living daylights out of me, i like to check out the markets and digest the data. this morning when i fired up the pc, i saw japan give up big rubber from yesterday. our futures down five ticks. a soggy open. why? because japan didn't pour more gas in an economic fire. somebody expected it. i saw the futures. you're headed for a rough day and that's what we got. the new proximate cause is istanbul turkey. we know once a particular square is involved, we get worried even as we had never heard of it. but it has to be impactful, right? on display in living color in your living room and it does look pretty dark. it didn't shock me. euro

the whole index. >> spdrs and etf s, and whatever. >> i'm bearish. ell rating on the xhb and the homebuilders etf, and a $21 price target and so have the xlb and the materials sector. >> i just want to go jim le kant, homebuilders is on my sheet it's got the worst number today minus 8.7%. with the rallying in home would abouters it's now flat year to date. i said earlier in the show and i'll say it again. i believe that the whole housing sector is a bright spot and will remain a bright spot. we'll get new housing starts later in the week. existing sales are pretty good and the construction numbers may be a little slower and still pretty good. sentiment pretty good. a 4.5% mortgage rate, i don't want to tell you, but my first mortgage rate was 25 years ago when i bought a home in washington, d.c. so would you come back and buy homebuilders or any of these housing-related stocks? >> theirs are really good. if you talk to homebuilders is we just can't get in with the materials and with materials costs falling that's going to help them and what happened i

back on the map: some once- troubled stocks are making it back into the s&p this week. is it a buy signal? plus, he was a multi- millionaire before the age of 30. find out how one entrepreneur followed his investment dreams and scored a home run. first business starts now! you're watching first business: financial news, analysis, and today's investment ideas. good morning. it's wednesday, june 5th. i'm angela miles. in today's first look: the tuesday trend ends. following 20 tuesday rallies in a row, stocks fell yesterday, with the dow down 76 points. amazon rolls out plans to get into groceries. the e-tailer wants to sell groceries online. u.s. regulators ruled that apple infringed on a samsung patent when creating some of its gadgets. and shares of mattress firm holding corp. rose 6% after the close, after topping analysts' expectations. larry shover of sfg alternatives joins us now, and larry, what are we going to do? the tuesday trend has come to an end. are you now looking for new trends in the market? - i am, but right now we are all grasping for news. the bottom l

that year the s&p bottomed out at the beginning of july. see the s&p bottoms right here. t made a lower low. that represents a time to buy. the vix gave you a sign when you reach the bottom. new low. okay right there? that's lower than that. that was not as high as that. again, that's the fear subsiding. started to see the same pattern that led to such nasty sell offs. on october 3, the s&p made a new low. okay right there? that's lower than that. that was not as high as that. again, that's the fear subsiding. started to see the same pattern that led to such nasty selloffs. right now taking a gander at the action in the s&p 500 and vix since this past april. this time around it seems like you can't break through. that's what you're feeling when you watch the screen. the s&p has hit that zone three times. the vix has climbed higher and higher. sebastian finds this extremely worrisome. he thinks we could be due for a single pullback. the s&p still has a lot of gains to give up. so sebastian thinks this is a moment to sit on the sidelines. he predicts pain and sebastian knows

we are back in the 90's. ay, cool back in the 90's, and mid-80's to near 90 from now through monday and around the bay you can see the 60's still at the coast. have a great day. leyla gulen? >> in the east bay we have report of a dolly in lanes northbound side along 880 at broadway blocking one lane. we have top speeds right now but here we have a report of a rock slide on highway one with the moist weather creating the rock slides. this is an area where we are experiencing that. now, outside, it looks to be dry and this is in walnut creek so if you are headed down 680 away from highway four, traffic is building and some of the taillights are flashing but all in all a 10 minutes drive away from concord to walnut creek. >> academy award winning actress heal heal is -- halle berry is demanding lawmakers do something to stop aggressive photographers from focusing on children of celebrities saying this is traumatizing her daughter. the actress showed lawmakers photos of an incident at los angeles international air

by noon we are in the 70's around the bay and upper 80's inland and let to mid-70's around oakland and berkeley and the evening it will be nice and comfortable conditions and back in the 50's at the coast and fog will move across the bay and that much of set the stage for a cooling trend. we are talking cooler weather coming up to the weekend. leyla gulen? >> we have construction projects and maybe dads are sleeping in taking a long weekend. northbound 280, the connection to southbound 101 -- no, southbound one is closed until 6:00 a.m. with no traffic there. eastbound 580 shows construction project to mcarthur boulevard blocking one lane until 6 a.m. >> another area of the maze, westbound 80 making the merge with 580 funneling into the bay bridge and eastbound 80 into berkeley and is accident free and in excellent shape. >> sex offender's shipwrecked boat is angering neighbors, and he is getting an ultimatum from police. >> how to make sure you do not fall victim to fraud related to the i.r.s. >> but now america's money report. >> good morning, topping america's money, mortgage rates

we will hang out in the upper 60's through the evening. next 12 hours we have temperatures cooler, 40's to low 50's and sunny at noon and 75 and it will be the warm of the place and warmer than yesterday with low 80's as we head throughout the afternoon hours and fall back to quiet low-to-mid 70's in the evening. a last stop the day planner the next 12 hours temperatures in the upper 40's to low 50's and hang out in the upper 50's with increasing sunshine by noon and brick this afternoon with temperatures hang out in the upper 50's to low 60's. that is the forecast for now and a cooling trend in the seven-day forecast. >> several breaking news stories going on this morning. this is in san francisco where police have made seven arrests during an early morning raid to remove a group of activists occupying the hayes family farm site. a man was pulled from a tree a short time ago using a cherry picker to lift officers to the protest and take him out of the tree. police pulled a total of three people from trees. at issue is the land slated for d

we back in the 50's with low clouds, fog at the coast and 70's around the bay, and into the 80's barelyrday and sunday and look what happens on monday we have another cooling trended. hoping it is friday morning lite with the details from leyla gulen. >> unfortunately it is not. we are going to be showing you something on the waze app but first if vallejo eastbound 37 to westbound 80 obtain -- on the transition a car went down the embankment. in dublin/pleasanton a construction project should have wrapped up at 5:00 a.m. but they are late so it is causing damage with the congestion. 35 miles per hour so stop-and-go traffic with two lanes gone. the waze app shows a report that a major accident occurred a minute ago so we will check on this at dumbarton bridge along 880. can you track your traffic with the abc7 news waze app at apple app and google play. 8 were from the julian off-ramp and clear conditions out there and not too much in the way of traffic toward h.p. pavilion. >> it is 5:39. sex offender's boat has run aground and the mains -- neighbors are angry. >> a case of fraud is har

to mid-60's but above we a thousand feet it will be in the 80's. at the coast, we will have a few clouds and temperatures in the mid-50's. high pressure is pushing the jet stream to the north but over the four corners region with the clockwise flow that is expanding that desert heat up toward us so it is hot and dry air that is coming our way and that is why i think the humid days are numbered. 90's through the central valley and 104 in fresno and tomorrow, everyone is in the 100's throughout the central valley and into saturday and if you are thinking of going to palm springs it is a crap shoot, check out the temperatures, near 120 for high and 90's for low. i will quip that -- skip that rest stop. >> at the coast, you are going to be in the 70's but a mile inland it will warm into the 80's so the coast it will be 70's and the beaches. >> thank you, mike. >> ladies, you know how the most stylish clothes are made for thin women now the big name designers are creating high end fashions for those who are plus size with new lines to fitful-figured wome

the upper 80's to low 90's around the bay and mid-90's in the north bay to near 100 in the east bay valley and only getting hotter tomorrow to 9:00 sunday evening, north bay, and east bay valley, and santa clara, highs over 100, association please find out a way to keep cool during that timeframe. leyla gulen? >> we will use our waze app to see what is going on around the bay area and right now we have an accident, a major accident in the east bay in union city, on the right hand shoulder. as we take it over to the golden gate bridge i will tell you we have plenty of fog out there and we have our wazers saying heavy fog is in the area. you can track your own traffic with the exclusive abc7 news app at google play or the app store. to the north, that is the drive headed into central san rafael and the headlights coming toward you in the southbound direction sun is shining. be careful headed into sausalito >> happening now, president obama is continuing his tour of africa ahead the powerful moment for the president before he departed senegal and what is ahead for the rest of his trip.

to the mid-to-upper 60's at 7:00. the coast is chilly mid-to-upper 40's hang out in the mid-to-upper 50's but it will be breezy. >> we have a brand new accident 101 freeway than very busy with few accidents already and a brand new in redwood city but this is sticking around and the fire truck arrived on the scene southbound 101 and that is blocking one lane, this accident blocking a lane and it sound like a car spun out and is facing the wrong way and northbound 101 at san antonio road we are seeing slowing in the southbound direction but northbound will be busy. waldo tunnel has a stall blocking one lane and so far top speeds and outside at the toll plaza metering lights are on and heavy conditions but what a a beautiful sight. >> developing news from the east bay, berkeley police are searching for a man wanted for sexually assaulting a little boy if a public bathroom. the search is focused around the berkeley marina on university avenue. sky 7 was overhead as an officer looked through every vehicle. police think he c

the next 12 hours we have clouds and temperatures 40's at the coast and low-to-mid 50's for the rest, and stay in the 50's for the better part of the day and focusing on the bay and noontime, mid-to-upper 60's and a little bit of a spread develop as we head to 4:00, 57 at the coast, and 66 around the bay, and 76 inland, and we will drop back into the 60's but for the coast at 7:00, where we are in the mid-50's. look at this dramatic change: a couple of degrees warmer and we jump ten degrees thursday and possibly another 5- to 10-degrees on friday, with dangerous heat and 98 inland, and 86 around the bay, and 68 with free air conditioning at the coast. now the morning commute. leyla gulen? >> it looks clear across the bay area but we have construction projects. we it is this report of a new accident, along westbound south bay freeway at the off-ramp and it is blocking a lane. we are looking at volume building in both directions approaching the nimitz and as we take it into oakland, the drive there in both directions we have clearing stages with the construction between high street and

temperatures are mostly in the mid-80's in the south bay but 82 in milpitas and low-to-mid 90's at los gatos and morgan hill. the warmth will nuclear up the peninsula with millbrae at 76 and 70 at half moon bay and mid-to-upper 60's for the rest of the peninsula coast and in the mid-70's around downtown and south san francisco and sausalito and mid-to-upper 80's through the north bay valley and sunshine at the beaches and mid-to-upper 60's but a light breeze. 78 in berkeley and low-to-mid 80's elsewhere and inland, the humidity was stuffy and now we have slight humidity in the east bay valley and you may need the air conditioning to get the humidity out of the air. tonight, the clouds are along the coast and patchy fog in the north bay, most of us in the upper 50's to mid-60's so warmer than this morning and this morning is the coolest morning we will have. look where the high pressure is, centered over the four corners region and with that flow you know where the heat is down in arizona and the desert with the clockwise flow want it spread by friday and we will be 100's throughout the

the day planner starting off with sunshine in the upper 60's and hang out in the 70's for the betterart of the festivities. the seven-day forecast shows hundred's until tuesday inland. we will still hang on to the 70's at the coast. have a great day. leyla gulen? >> we are looking at a quiet start to friday morning commute. is it the quiet before the storm? we will find out. i have lots of great resources if bart strikes. but right now all mass transit is on time. we do is pride parade with lots of street closings and all the information is found on facebook or twitter. over the altamont pass we are looking at speeds at 38 miles per hour and if livermore we have more traffic and 33 minutes in dublin and the drive picks up to 60 miles per hour and 84 at 21 miles per hour, so, really, slow-going headed into san jose, wide open but for 880 in the south direction and 280, all is quiet and clear. >> 550, more trouble for former new england patriots star hernandez. police are now vetting -- investigated whether he was involved in a double murder in the summer when two were killed in a driv

for the s&p 500 you expect a further e decline. arden variety that could mean another three, four or five% downside. >> yes. think about the ent molg of the word correction. it implies something is incorrect, too steep, too far. you've got to take breaks in life. you want the correction. you don't want it just to stop after a couple of percent. >> i like it when ent molg is combined with technical analysis. dan, what do you make of carter's prediction that you are bound for another two, three, four five percent decline? >> he had me at garden variety. we made new highs every year for the last few years, 52 week highs but we do get ten percent selloffs. we retest those previous levels and come back in. there's nothing good going on in the world anywhere right now. if the only reason you were buying stocks was because of the fed, that reason isn't even there anymore. if you were bullish it makes sense to have a ten percent pull back and get back in. >> markets are not a buy according to your analyses. are they a short? >> i would reta

lice cling was a raging fad in the 1890's. all of united states, newspapers, magazines were agast about it. they were just talking about it back and forth. was it healthy? was it unhealthy? are they taking over the roads, hazards to health and traffic? and most importantly everybody was very excited about the idea that women were bicycling. they were worried that women might perspire and that was an unhealthy and unfeminine thing. and a lot of women were wearing bloomers, these sort of blousey trousers to help them bicycle. that was thought to be scandalous. but the lady falcons, they didn't care. they were a group of seven married women who went bicycling. they would finish their ride, rest in the long seats there in the clubhouse. they started having dinner parties there. they became quite fashionable. and they sort of tricked it out with all the victorian fill debris they could cox up -- filigri they could come up with, japanese fans, curtains, cushions it became sort of a fashionable, bohemian thing to do that other people

in west -- yea thunderstorms into the afternoon with highs in the upper 70's and the low 80's. i think showers could break out at any point but especially after 12:00 p.m. and 1:00 p.m. with trying things out highs in the 70's with only an isolated shower. friday .s the first day of summer the weekend is still a question mark. >> good morning. there is an accident at fayette street and president street. is alonglow spot saratoga. it is close near liberty because of the debris in the road. no problems from the 895 split down to the fort mchenry. late of29 at 108, volume in ellicott city. watch for the accident at fayette and president. that is the latest on traffic pulse 11. >> ups and fedex are warning people to be on the alert for fraudulent e-mails. some ask for money for a package delivery. it is advised you do not open these e-mails or click on the links. one link you can click on is for netflix. they have a new web site today that promises plenty of family friendly choices. for the is portable long road trips. if your kids have a need for speed, spoil them silly with a pors

temperatures in the upper 70's. we'll come back and take the seven-day forecast through the weekend. we have some rain to talk about. >> 5:12. cyber security experts are being vigilant right now. >> chrysler is not recalling millions of its suv's. >> he will come back. 5:15. beautiful shot of the inner harbor. temperatures are in the 50's right now. maybe a light jacket this morning. kind of a cold start for this time of year. in the northern suburbs. 56 in parkton. the dew points are in the upper 40's and low 50's. that is a very comfortable for this time of year. the satellite is showing a few clouds moving in from the west. they will drift over to baltimore today. there it will be some rain by the great lakes. we could see some showers tomorrow. the big story is down in the gulf of mexico. you can see a big flare-up of thunderstorms. if it does become a tropical storm, its name will be a andrea. a lot of computer models it taken of towards maryland. that will give us some heavy rain to start the weekend. partly to

we will keep it in the upper 70's. warm weather tomorrow and also friday but not to unbearably warm the cooler temperatures will come in saturday. you can catch the latest news, forecast and traffic conditions whenever it's convenient - on our 24/7 bay area news channel. you can watch live on kron4.com or on comcast channel 193. just how bad is it in the next edition of people behaving badly. gary: rocking d pittsburgh will give you the highlights best team in the bay area right now and also highl[ male announcer ] the the new subway® $4 lunch is for everyone. it's for value seekers. for spicy italian lovers. for veggie eaters. for meatball dreamers. for everyone who wants more of what they love. the new $4 lunch. a 6 inch sub and 21 ounce drink. tons to choose from. all day every day. (male announcer): now, here's stanley roberts who found some people behaving badly. >> reporter: >> reporter:bay area freeways are getting trashed and i mean that litterly this is me in a full on caltrans uniform cleaning up highway 101 j

you can see they are fading from temperatures in the 50's, and we will stay in the 50's at the coast and mid-to-upper 60's around the bay and inland, we will replace the low clouds with high clouds, and 60 at the coast, and 70 at 4:00 around the bay and 77 inland. the next three days, your forecast is showing temperatures are mild on wednesday and thursday and warmer with a lot of sunshine on friday. now a check of the traffic. leyla gulen? >> good news a big rig was blocking a lane open highway 17, right before you reach highway nine is cleared. all lanes are now open so top speed in the northbound and southbound direction through los gatos. as we look at the drive time track -- traffic is slowing. but construction is slow things down approaching 680, and that will be around until 6:00 a.m. and the top speed in that area is going to be about 13 miles per hour. the 101 headed out of san francisco at sfo is 12 minutes the drive team and 85 great highway one to cupertino is under 17 minutes and outside right now the golden gate bridge show as beautiful sight and we have clear conditions

temperatures at noon are in the 60's and we will have sunshine inland and breaking out around the bay and 50's and 60's and 70's at 4:00 and 50's and 60's at 7:00. hooking ahead county the three hottest days of the forecast, tomorrow, friday, and saturday, temperatures are near 100 inland on saturday and near 90 around the bay and 70 at coast but dangerous rip currents are developing so be careful. now a check on traffic. >> mostly construction out there, and as we take you to san jose this is where we have one project that will last until 5:00 a.m., one lane blocked, northbound, along highway 85, between 280 to the south bay freeway, concerns picked up at 5:00 a.m., and fremont, northbound 680 a long-term project we have had between south mission to north mission boulevard will be in affect until 6:00 a.m. this morning and it looks like a few lanes are blocked off by construction crews so slow in the cone zone. the bay bridge toll plaza cash-paying lanes are loaded up but a lane is blocked in the westbound direction until 5:00 a.m., and the eastbound direction has three lanes blocked

the s&p 500 has come back just a bit. less, michelle, down 17 points at this hour at 1574. >> let's show you what's going on with the ten-year yield at this point. usually when you see a selloff in stocks, you also see buying in treasuries and we actually are seeing that. this is the yield of the price so the yield is rising, so even though the -- people are buying stocks, i mean, selling stocks, got -- >> ugly day in the market, michelle. ugly day for this dog. this is wally, the winner of the ugliest dog contest. it was on the "today" show today, a mixed beagle, boxer, bassett, one ugly bassett. see you tomorrow, folks. >> a scary situation filled with slow, careful steps. all kinds of things to navigate. a real high wire act with the potential for a big drop at any time. no, not nick willenda's incredible walk across the grand canyon. that is your market setoff as it's in the redmund, but we've got the skill and the balance to help you get through this mess, mandy. >> a

the dew points are in the upper 40's and the low 50's. it will be a nice afternoon. let's see what kim has to say about the traffic. morning.light this a crash at essex road. 83 is looking great in both directions. 65 miles per hour and shawan road. very light volume north and southbound. .95 is 60 miles per hour the west side of the beltway is looking good. that is the latest on traffic pulse 11. >> thank you. 6:22. leadsdavis and adam jones to their position in all-star voting. >> the orioles pick up another win. keith mills will have highlights. >> here is a look at last night's winning maryland lottery numbers. hope you have them. >> good morning. the orioles and astros continue to produce series tonight in houston. the orioles played very well defensively kohen. chris tillman pitched well. last night, he gets cris carter looking on the strikeout. hird inning, danny valencia, this guy can swing the bat. that goes in for a home run. nate mclouth scores. goes wide.goes clydw the yankees beat cleveland in new york. this is nate mclouth one more time slide into third.

we saw the s&p note came out, now the u.s. credit is stable and the dollar starts pulling off a little bit. the euro take off, the yen take off. one thing slowly creeping back up, keep your seatbelt on for this one, will be gold, precious metal. the selloff last week, now it is slowly inching back up toward the $1500 mark. i don't see a lot of activity until thursday when the jobless claims come out, we will see some more, but for now it will be a choppy, bumpy ride for the next few days and the volatility is climbing up but again there is such light volume in the market again and for friday's numbers. cheryl: i think the three of you are just doing my job or me today. i will ask you about oil. speak out to me it looks like we're moving higher. a lot of longs have gotten into the market and it looks to me like we are expecting global economies to improve and with that crude oil will have more demand to move the price is higher. i'm looking for a break above 9610. if we get it, 98-103. cheryl: interesting call, and other bullis

and low-to-mid 70's through the north bay and the mid-to-upper 50's at the beaches and mid-to-upper f the east bay shoreline and fremont could get up to 70 and we will have mid-70's to low 80's in the east bay valley from san ramon at 76 to brentwood at 82. tonight the temperatures are comfortable again, we will drop down into the low-to-mid fists with mostly cloudy conditions. tomorrow, probably the cool of the day in forecast, wednesday we are the same as today and look at the 90's on thursday inland valley all the way law sunday and we will hit to low-to-mid 80's around the bay but, still, obligate -- only 60's at the coast. >> we do have construction in san jose wrapping up in a few minutes but we will take you over the altamont pass with construction causing major delays in the eastbound correction so i suppose the good news is it is not in the westbound direction where the traffic is headed in the morning. look at the red, we are starting off at 59 miles per hour and backups dip down to 26 miles per hour and we will see one lane blocked until 6:00 this morning. if you are heade

inland valley and back in the 70's and stuck in the 50's here, with clouds giving way to sunshine and breezes at the coast. how is the commute? >> we have a stalled car beyond the toll plaza along the bay bridge, westbound side, so, 18 miles per hour, as you come up there, but it is blocking one lane so slowing the drive a little bit, there, and it starts to pick up when you head to treasure island and we take to you martinez we have a waters main break, and this is at conference street association watch out for that, and outside at berkeley the drive is under 20 minutes to take you from highway 4 to the maze and we do have a bit more company out there at this hour. kristen and eric? >> happening today the fate of san francisco's city college could be decided in the walls of the sfo airport marriott, a closed session meeting will take place at hotel and amy hollyfield joins us with the pleas the student and staff are expected to make. >> officials from the college will get to make one last plea and make their case before the vote is taken here today. protesters were here

upper 90's for the forecast. low 80's around the bay. 60's at the coast.lunchtime numbers for you, coming up. >>> you can track the rising temperatures by visiting ktvu.com. just click on the weather tab, where you'll find an hour-by- hour forecast. >>> at least one death has been attributed to the heat. how to recognize heat-related exhaustion and stress. >>> president obama, how he hopes to continue the work of nelson mandela. >>> the blazing heat wave hitting california, nevada and the southwest has turned deadly. las vegas police say high temperatures were a factor in an elderly man's death. dominique joins us live from los angeles to explain the dangers of extreme heat. good morning! >> reporter: good morning, to you, jana. the guy out in las vegas was an elderly gentleman, according to las vegas fire and rescue. they responded to a call at his home. when they got there, they discovered he was dead. apparently he had medical problems and they think the heat added to the complications, and that resulted in his death. that's not uncommon for people who

that's really what really hit the s&p. so to us i believe if you look at the correlation between the s&p and the yen, bob pisani hit on it. i think that's the key player today. and we're going to see the futures are indicating a horrible open in the nikkei. if that carries over again to tomorrow, i think that we're going to have another huge correction tomorrow. >> jeff -- >> i think that correlation, by the way, is very dangerous. because every trader is watching the exact same trade. that's what gets us in trouble. i mean, that correlation becomes manufactured. as we all stare at it we start to believe that is truly what's moving the market. at the end of the day it's the fundamentals in japan that are going to move the market. you got to get the nikkei noise of the yen off the table to focus on the fundamentals of exporters. that's what's missing. >> it's the fundamentals of the u.s. market that matters as well. to bring you back in, talk about this being a buying opportunity. are you not concerned about the kinds of com

highs in the mid 80's. >> 5:42. ort.s at the >> the latest season of "the voice" comes to an >> good morning. sarah caldwell checking on your morning commute. we are looking good in terms of the major roadways. we have some debris in elkton. 895, the ramp is closed. not tracking much in terms of delays on 295. speedound traffic up to down to the capital beltway. the j.f.x. in great shape from the beltway all the way into town. this is a live picture of greenspring. that is the latest on affic pulse 11. >> you can see the skies brightening up. it is still cloudy. we start to see some clearing in westminster. the radar is trying to show a few dots. we are seeing some light showers into the eastern shore. east and moving to the affecting areas like route 13. we to have some heavier showers and storms in the lower eastern shore. makeare starting to through way into western maryland. this activity is moving east and making its way to baltimore. 79 and downtown. 70's across the eastern shore. a lot of clouds to start the d

the bay. low-to-mid 60's at the coast.dumbarton we have a hit-and-run accident at the toll plaza causing slowing. it is blocking one lay and that can cause a few extra minutes to be tacked on to the commute with debris northbound 280 at 65 a is blocking a lane but we have mostly green so we are in good shape in cupertino. this is the maze with thinge fog clearing slowly. >> trading is under wall street on wall street and we will go to jane king at the new york stock exchange. first, though, a look outside at the supreme court where we are 18 minutes away from key decisions on prop 8 and the defense of marriage act. we will talk to our legal analysts of >> covering novato, oakland, sunnyvale and all pay area this is abc7 news. >> at 6:44 we are awaiting decisions on proposition 8 and the defense of marriage act from the supreme court and here is a picture outside the court in washington, dc. you can see a lot of people are out there, some with rain blow flags and people on both sides of the issue are ready and waiting to re

the s&p 500 good for two-thirds of 1%. technology having another strong day as the nasdaq is good for three-quarters of 1%. here is what we're following. >>> colonies capitalist. tom is the here with the best ways to make money in housing right now. "x" marks the spot. u.s. steel is the fourth worst performer in the s&p 500 year-to-date. can the shares finally show some mett mettle? >>> the fed and your money. the most important week of the year showing another day of gains ahead of bernanke's big decision and statement tomorrow. this is traders and investors debate whether this rally will continue or run out of steam. we're following it all with joe terranova, stephen weiss, simon baker. a little later we will be joined live by tom barrack. weiss, set the stage for us. the stocks are having another good day. where do we go from here? radio right n >> right now the think the market is discounting the fed is going to do nothing. they will continue with their dovish way. the interesting thing is i believe the market is still

the low 50's and well end up in the upper 50's. enjoy it. >> we have a big crash if you are traveling westbound along 80 at carlson boulevard involving four vehicles with speeds approaching richmond parkway at 34 miles per hour, so 33 minutes from highway fur to the maze. out of antioch to conquer at 13 miles per hour, and that is 23-minute ride and toward concord and a look outside as we look at the toll plaza the metering lights are on and busy conditions toward san francisco. >> a developing story from vallejo police are investigating a shooting involving one of their own when an officer responded to a call at the vallejo marina. abc7 news reporter amy hollyfield has the latest. >> this happened on a boat. you can see there is crime tape here from the investigation. in 20 years in the department the investigator cannot remember an officer involved shooting on a boat. he was living on the boat it appears. at 7:00 this was a call about a loud violent fight and the officer got here at 8:00 to check it out he found the suspect, a ma

, but, city, mild in the 60's to antioch and we will be looking at cooler days ahead. livermore is starting out today in the upper 80's, and look what happens tomorrow, big drop and we will recover on sunday and cool weather heed for next week, the last week of spring. state-wide temperatures, sacramento is 92, and 70's in the northern sierra and the south bay, beautiful day and getting warm, 85 in san jose, and the peninsula you will have the sea breeze kick in, the next couple of hours with temperatures in the mid-70's san francisco and san mateo and cooler throughout the afternoon and 83 in calistoga and northeast bay into the upper 70's and 80 in fremont, and in the hills, to near 90. cooling it off and getting cooler to the going of next year and slowly warm up by the middle of the week. abc7 news has the latest on twitter with latest weather and "spare the air" alerts and weather tweets. >> i am watching her, in person, and online on my iphone, on my new app. >> new smartphone app to keep you on top of the latest breaking news. it has a section for the quirky stor

the s&p also getting crunched, down 32 points. ok at the tape right now, what a difference from just a few hours ago when major worries gripped the market, ducking and deeply into the red. right now the dow was down 71 points, trying to make a comeback. seventeen minutes ago redound. the nasdaq, forced russians -- bourse session string of losses. the s&p now down -- i hate to say just ten points. it had been down more than 32 points. what a difference over the last hour or so. let's rewind what happened. chinese shanghai investors saw their dow jones industrials dropped three points, and every major market in asia and europe also bidding slow work. people's bank of china policy overseas sell-off after it essentially told chinese bankers, you guys have to us solve your own liquidity problems. chinese central bank worried about something called a shallow banking system where there are making very unsafe lending. moments for a lot of people in china. basically the central bank said, cut it out. we will squeeze you if you don't. so, as