i'm wendy gillette. i'm wendy gillette.y. -- captions by vitac -- www.vitac.com >>> this is kpix 5 news. >> live look outside on this tuesday morning. santa claus has m hisounds.maybn the sky here. good morning. thanks for waking up with us i'm kenny choi. >> and i'm anne makovec. >> thanks for celebrating with us today. glad you're starting the holiday here with us. it looks like it's going to be decent weather. merry christmas. >> yeah. >> we're here. on this christmas and glad to be here and glad that you're awake and up with us. we are starting off the day with clear skies in spots. so temperatures are running in the 40s and in the 50s and it's going to be a beautiful christmas across the bay area with that sunshine. enjoy it. live look with our sales floor tower camera. 50 in downtown san francisco and 42 for santa rosa. all of that doppler rain now out of here. this is all wrapping up very quickly as that area of low pressure moves out of here. so that's the very last bit

wendy gillette is at the new york stock exchange with that and more. > good morning, brook. prosecutors in iowa say tens of thousands of individuals and businesses nationwide were victims ofabfe an organic grain scheme. the alleged scheme involves ordinary corn and soybeans sold as organic. the grains were sold as certified organic at a premium price over a 7 1/2-year period. a missouri businessman and his associates have pleaded guilty. that processed grain into other products that were sold as organic. >>> the mayor of new orleans wants a fair share of the 15% tax and fees imposed when you stay at a city hotel room. they add up to an estimated $166 million a year, but just more than one out of ten of each dollar goes to the city. most goes to major state-owned attractions like the superdome and a convention center. mayor latoya cantrell says the city needs a bigger share to deal with crumbling infrastructure. >>> the new year brings some good news for workers in new york state. a higher minimum wage. the highest wage will be paid here in new york city

wendy gillette is at the new york stock exchange with that and more. good morning. >> good morning.p says he has confidence in treasury secretary long time adviser steve mnuchin. mnuchin's efforts to calm the markets failed. he reached out to the heads of six largest u.s. banks to check on their liquidity. and convened a financial crisis group. the market suffered their worst christmas eve drop ever. the dow last 663 points and is on track to have the worst december since the great depression. they report mnuchin may be in serious jeopardy. the president called him a very talented guy. stock markets in asia finished lower while here at home we have the christmas week plunge. u.s. stocks have pulled back dramatically in recent weeks over slowing of u.s. and global economic growth and political uncertainty in this country. president trump has blamed rising interest rates for the market selloff. mr. trump says the fed is raising rates too fast. >>> american nissan motor executive greg kelly is free on bail. he was released last night after 37 days in custody on bond. of six $35,000. an

wendy gillette is at the new york stock exchange with that and more. morning. >> good morning, brooks. it's a day of reckon ing for sears. the department store chain where america shopped for decades has until the end of the day to secure a bid for the company or face liquidation. sears, once the largest retailer in the world, files for bankruptcy and closed more than 180 of its stores. the company has been losing money for years. chairman edward lampaert and his hedge fund outlined a plan to buy what's left of sears earlier this month but so far there's no deal. home buyers got a break this week. long term mortgage rates were down. the average rate dipped to 4.5% according to freddie mac, last week it was 4.6%. average rate for a 15-year fixed rate loan is 4%. mortgage rates started to rise when president trump signed tax cuts into law last year. rates have eased as the stock market tumbled and the fed cut interest rates. >>> the u.s. has become one of the largest fossil fuel exporters thanks to in good part some of asia's top economies. china and oth

wendy gillette is at the new york stock exchange with that and more. good morning. >> good morning. secretary steve mnuchin is expected to convene a call with the president's working group on financial markets. the group includes officials from the federal reserve, the securities and exchange commission and others. the treasury confirms that six largest banks yesterday to confirm their institutions are okay in light of last week's market route. u.s. stock futures dropped last sunday as the markets get ready to open for a shortened holiday week. this month the market suffered steep losses. the s&p 500 is down 12.5%. nasdaq dropped 13.5% and is now in a bear market. after declining nearly 22% from its high in late august. friday, the dow last another 414 points. the s&p was down 50 points, and the nasdaq composite19 president trump has blamed fed chair jerome powell and the fed's program of raising interest rates for the stock selloff, but the administration is denying a bloomberg news report that mr. trump discussed firing powell after the latest interest rate hike. and treasury secr

wendy gillette at cbsmoneywatch.com. >>> americans getting a second chance at the ultimate christmasift. >> and let's head outside once again as we take a look at the traffic in the dublin interchange. giana's got our full traffic report when we return after this. >>> good wednesday morning to you. it is 5:44 and here's a live look at our sales floor tower camera. mainly clear skies. a chilly start to the day. hopefully you had a great christmas. we're going to look ahead to the next holiday. we've got your first new year's forecast in a few minutes. >>> looks like no one got the ultimate christmas gift. the $321 million megamillions jackpot nobody matched the jackpot. so it's going to grow for the next drawing. tonight's power ball jackpot is $294 million. so maybe somebody will have a lucrative boxing day. >> all right. >> yeah, it's boxing day everybody. the holidays they just keep coming. >> you guys going to buy any lotto tickets. >> i will be buying mine. >> good luck. >> thank you. i will share. >>> a new crash to get to on the east bay. >> yeah, unfortunately it's not blockin

. >> wendy gillette, cbsmoneywatch.com, thank you. >>> a live look outside at the oakland colosseum rightow. the raiders will play their final game tonight. look at that, is that a tent decked out for the holidays? >> christmas lights. >> you know the black hole, silver and black face paint and the elaborate cosassumes, especially the spiked shoulder pads. today could be the final curtain call at the franchise's ancestral home. the team doesn't know where it will play for the 2019 season , the home game could be its last in oakland. raiders owner mark davis resendsed the offer to play at the colosseum next year in oakland because the city is suing the team and nfl for anti trust violations. the san francisco giants confirmed they are in very early talks about hosting the silver and blacks home games at at&t park next season. >>> san francisco firefighters gearing up for a big last minute pushfor presents. o dools in 20 minutes, they are reviving a nearly 2 decades old tradition, a last minute toy drive for the san francisco firefighters toy program. >> we will be here rain or shine, we wi

wendy gillette is live at the new york stock exchange with that story and much more. >> reporter: goodning. today is the final day of trading for 2018. many investors are probably happy to be done with what has turned in to a roller coaster year. friday the dow dropped 76 points, nasdaq gained 5. markets will be closed new years day. over the weekend, president trump said big progress is being made in trade talks between the u.s. and china. the u.s. wants china nato address intellectual property theft. since trump and chinese president met in december, china made a number of trade and investment proposals, detail looking. u.s. officials will begin several days of talks on january 7th. the federal judge who struck down obama care says it will remain in place during the appeals process. earlier this month , the judge ruled the affordable care acts individual mandate is unconstitutional, which makes the rest of the law invalid. a group of democratic state attorneys general intends to appeal the decision. >> i heard someone could be starting off the new year with luck and a little bit more