despite the name it's not in west texas. the name of the town is west between waco and dallas fort worth and in 2013 they had a serious disaster in this town. this tape is shot by a man named derrick hurt and what's going on is mr. hurt and his daughter they're off camera but you can hear them. they're sitting in mr. hurt's vehicle and watching a fire burn off a ways in the distance in their town. so it's 30 seconds, just watch the 30 seconds of this clip. you won't really be able to tell why i'm having you watch it at the beginning, but trust me. i will also tell you it gets scary at the end but there's no better way to show you the magnitude of what happened there than watching this. put on your seatbelt, 30 seconds. just hold on. i can't hear! i can't hear! let's get out of here! please, get out of here! please, get out of here! >> oh, my god! >> what that was, that massive fireball was a massive ammonium nitrate explosion at the town's fertilizer plant. derrick hurt and his daughter were okay. many of their neighbors were

a couple hundred miles southeast of west, texas, is the town of crosby, texas, just outside houston in harris county. it is, of course, one of the many texas towns that has been battered for the last six days now by tropical storm harvey. crosby is where the arkima chemical plant is. it employs about 57 people. it's a small plant. the plant produces organic peroxides for use in plastics. the plant lost power in the storm like everybody did. they planned ahead for that. they had backup generators on site even after central power was lost. unfortunately this weekend, their backup generators also got swamped. they had no power source of any kind since this weekend at that chemical plant. after the backup generators got swamped, they went to plan c. the company moved the chemicals they had on site into refrigerated containers. where the refrigeration was powered by diesel engines. but those diesel-powered refrigerated containers, those containers got compromised by the rising water as well. and so now the crisis for little crosby, texas, is not just that it's under chest-deep water, the cr

so this is based in west texas in a tiny town where i did my family medicine rotation, a little town called fort davis. and in this story, i'm riding into town with the family doctor who takes care of patients in that town. we pulled into fort davis, a little strip of a town with 1,000 inhabitants nestled at the foot of the mountains near the mcdonald observatory. the clinic is in a stone building at one end of the town, and we walked right into the waiting room. the doctor said hi to everybody, then sent me off to see the first patient. ooh, it's mr. housen, he said, talk him down for me, rachel. talk him down. mr. house p was a rancher in his 60s with sun-weathered skin and strong arms. i think i -- excuse me. i think i tore myself, he said, picking up a hay bale. his wife nodded significantly. yes, he did, she said, down there. [laughter] i understand, i said. this was bread and butter for me. on my surgery rotation, i'd helped repair a bunch of hernias and learned how to do a good exam in cling. mr. housen told me the story, he picked up bale and felt a sudden pain in his groin.

however, the benchmark oil price that people usually look at, the west texas intermediate, that has barelys down slightly. we saw prices spiking i% on friday. people bracing for the impact of the storm. traders coming back yesterday and watching the impact. what has been confirmed is that one quarter of production has been shut down. about 24% of the production in the area of crude is down. national gas, 26%. if you think about it, that is about 400,000 barrels per day. all big firms have shut down production. it seems like investors are still assessing the damage. thank you. planning to travel, but not keen to stay in hotel? the rise in house and apartment rentals has shown the power of the collaborative economy. i spent two minutes with the co—founder of aianb. i asked how he came up with his business idea. co—founder of aianb. i asked how he came up with his business ideal was an entrepreneur, i had a business in high school. i learned from that that i could build things that people valued. that is now aianb, which is very successful. property regulations around the world have cracked d

a few years ago i was at the disaster in west texas and i had commissioner come up to a and said, texas isn't just place you're from it described i your family is and remember that especially on occasions like this because one pulling together as family as texans to try to help lives ho have lost their and their families and those who have lost their property and and those that are in a bad way right now as a result of i have to say but that governor abbot and his emergencyg out of the management operations center in austin texas have done a job but it would not be possible work without the upport of not only the leadership of governor abbot but also folks throughout state and government. but as you'll hear in a moment fema administration this is a long haul. we're trying to save people's ives and trying to make sure they have a place to live and safe water to drink and sewage and the like.y this is going to be along challenge and in addition to the website the governor mentioned assistance.gov and some people might not have access to internet coverage but if they a phone call they can

i still think that there's going to be plenty of pressure on the west texas contract.: joe q sick with today's futures in focus, thank you so much. latest timeout for the bloomberg business flash, it look at the biggest business stories in the news right now. shares of foot locker are plunging today. they reported second-quarter earnings that missed the lowest analyst estimates. comparable-store sales unexpectedly fell 6% and foot locker says they will be down 3-4% the rest of the year. deere is forecasting no improvement in annual sales. the world's largest maker of farm equipment says that there will be a 5% drop in revenue from its largest market this year. still, it raised its overall forecast for the year to october. that is your latest bloomberg business flash. nejra: still ahead, why popular bond managers such as jeff gundlach has stayed relevant longer than many of the equity. peers. wil we will discuss that next. ♪ nejra: this is "bloomberg markets." ic in london.h vonnie: i am vonnie quinn. .ow to julie hyman julie: there is one asset bucking that trend. join

west texas intermediate iraq down around two and a half percent international benchmark of brent crude. also losing nearly a percent u. s. refinery shares actually rising as investors expect the resulting spiking gas prices to boost profits when they reopened. insurers on the other hand taking a beating has a large hobby related payouts limb tha thy dangerous storm, catastrophic consequence. folks need to not underestimate that. it will be a sustained challenge for a coming days. in makeup catastrophic storm is expected only worsen in the coming days and what may be the worst flooding disaster in u.s. history. parts of texas could be hit by as much as 50 inches of rain.

heard is visiting local dairy queen's, holding town halls to meet constituents throughout south and west texas. he has been chronicling the journey he calls the sea to dq on social media -- he calls d.c. to dq on social media. >> live on our second day of d.c. to dq. if you have been following us, this is 20 stops in six days, a meeting with constituents in the 23rd congressional district of texas. border.s of the >> congress returns september 5 with a busy fall ahead. on their list of issues include passing a federal spending bill by the september 30 deadline to fund the federal government. floor votes are expected by the end of the year on reforming the tax code and raising the debt ceiling. expected worke is on health care reform, holding hearings next month. watch coverage on the house on c-span and the senate on c-span2 . >> coming up live on the c-span network, it is discussion about diversity and cyber security with professionals looking at ways to broaden the workforce. live from new america and 9:30 a.m. on c-span3. in the afternoon, a discussion about u.s.-taiwan relations. our live

." >> ♪ south and down into west texas with severe storms. er and much cooler for most areas west of the rockies. >>> and finally this morning a very personal remembrance of heather heyer, of course, the woman who was mowed down, killed when a driver deliberately plowed his vehicle into a crowd of people in charlottesville. >> her father mark is now speaking out about his daughter and the senseless violence that took her life in an emotional interview heyer is calling for an end to the hatred. >> my daughter was a strong woman that had passionate opinions about the equality of everyone and she tried to stand up for that and with her it wasn't lip service. it was real, you know, it was something that she wanted to share with everyone. you know, and my thoughts about all of this stuff is that people need to stop hating and they need to forgive each other. you know, and i include myself in that in forgiving the guy that did this, okay. he don't know no better. my daughter's life, she's -- i'm proud of her. proud of her for standing up -- she had

mainland in twelve it is the state governor has described the flood as the west texas has experienced one point three meters of rainfall expected three hundred thousand people have been left without without electricity and more than two hundred fifty highways across the state have been shut down a massive search and rescue operation is underway. well remember you can get your news on the move by downloading the ati app for free and i'm back from here almost studio in just thirty minutes time. seemed. like a little just don't call. me. yet to shape out the attic. and in detroit it was betrayed. when so many find themselves worlds apart we choose to look for common ground. have you noticed whenever you see a commercial for ham on t.v. it's often set in the countryside. with a nice family and a rustic backdrop. and the ham is always pink. very pink. and one hundred percent natural course. looks so tasty it has your mouth watering on the couch. with that's the point. but what if behind is pretty pink and one of the biggest health scandals of our era . in two thousand and fifteen the world

ridge that will have the biggest impact on our weather for the next seven days is this one over west texassouthern new mexico and southern arizona. it's a big heat dome. and it will move as soon as this low leaves. it's going to leave later on this week. that heat will move from arizona and new mexico into california and have a significant impact on our weather away from the water. next couple of days, status quo. morning cloud cover, near the water. afternoon sunshine, the coast you may not clear. but the rest of the bay will. and temperatures will hang out very close to average. now let's look at what happens this weekend. i know i'm going a long way from now. this weekend through next monday, that ridge will park itself directly over northern and central california. that means it's going to get hot, not hot at the coast. not hot near the bay. but hot weather inland. we could see 105 to 110 in the central valley. we'll likely see some temperatures exceeding 100 degrees inland starting sunday. so the afternoon will be near average through thursday. we'll see warming mainly inland starting

. >> this is based in west texas in a tiny town right of my family medicine rotation. the little town called for davis. the story i'm writing it into the town with the dr. who takes care of patients in that town. there's a little strip of theli town, nestled at the foot of the mountains near the mcdonald conservatory. the clinic is in a stone building at one end of the town. we walked into the waiting room. doctor said hello to everyoner and set me up to see the first patient. mr. house and he said, talk him down for me. talk him down. he was a rancher in his 60s with then skin a strong arms. i think i heard myself picking up the abo. his wife nodded. yes, he did, down there. i understand, i said. this is bread-and-butter for me. , surgery rotation helped repair hernias and i try to do good hernia examine clinic. he told me the story about how he picked up the hill bill and felt the sudden pain in his groin area that didn't go away. go ahead and pull your genius down and i'll check you for hernia. he shrugged his shoulders said well okay and unbuckled his belt. enough,

it's a, the chihuahuan desert, which extends into west texas. >> in upstate new york, don and phyllisfrom their local estate appraiser that one of two paintings inherited from don's mother might be worth 100,000 bucks or more. >> it was good news. >> it's this portrait of an elusive pueblo woman, signed by the prominent taos school artist victor higgins. >> it's a very good field to be selling into, because a lot of collectors love that type of painting. >> first, david mapes has to appraise and authenticate the painting for auction. there are three notations on the back, written in pencil -- the name "ruth," victor higgins, and $600. >> and if you think about it, that was quite a bit of money back then. >> after decades in a dusty basement, mapes has a name and a purchase price. but he still needs to know how "ruth" got into the hands of don's family. >> david asked me, "what's the story behind this painting?" i talked to my brother. we agreed that it must have come from our great uncle, curtis. >> why do you think he would have been interested in southwestern art? >> well, uncle cur

investment banks predicted that brant crude will average just fifty two dollars a barrel while the west texas intermediate u.s. oil gauge is estimating an average of fifty two dollars. it's no secret that a rise in cost of living can exacerbate homelessness especially in urban areas but a new study shows just how strong that connection is in some american cities many of which are already struggling to provide affordable housing boom bust bianca machinery has more on this one for us now are we talking about buying homes or are we talking about the cost of renting we're talking exclusively about renting homes so over the past decade more americans started renting instead of buying which pushed up rental prices which then impacted the growing rate of homelessness and several american cities in some ways the u.s. housing market never fully recovered from the two thousand and eight recession potential home buyers into renting instead which explains why the rate of home ownership is still below its pre-crisis peak and that explains why rental prices continually rise and are starting to affect homel

it looks like it is still blocking those lanes and the backup stretches until west texas. you will be slow until you get past 680. give yourself plenty of extra time. this is 580 with those headlights approaching went -- westbound. we are tracking the usual slowdowns tracking 205 680 with an accident in the clearing stages over to the shoulder. you can see it dips below 40 miles-per-hour and speeds do pick up past that accident but it will be a tough one into the castro valley and that is a check of your traffic. send it over to roberta look at the forecast. >>> in central oregon people are flocking to see the total eclipse of the sun and the are running out of fuel. for more tips on the solar eclipse visit us at www.cbssf.com/solareclipse . we have been counting down for over a full month with our excitement in the forecast has been pretty spot on. we anticipate low clouds, and we will see maximum exposure to our partial eclipse around 10:15 and this morning the weather watchers are so important to me. thank you so much for checking in. michael in oakland has cloudy condi

it is the spread between west texas intermediate and brent crude. level since late 2015. of course, the story is that refining capacity in texas is expected to be knocked out for a while. ,il production in the u.s. there is going to be a lot of production without much capacity to refine it. that means lower prices. that big gulp opening up. you can see that chart on the terminal. just put into graphic form what i was talking about, a few minutes ago. mark: i will try, johannesburg stock index closed with a record on friday. not everyone is buying it because foreign investors have sold 65 billion rand of south african stocks. that is $4.9 billion. to build that political maneuvering could be down to the reason why investors are slightly wary. a successor has to be chosen. in part we were -- partly reflects unease over zuma's management of the economy. africa's says south underperforming and is viewed as being underwhelming. saying that russia is a safer place to put your money. vonnie: bravo, mark. it was so close. if you had given me the game of thr

two years ago i was at the disaster in west texas, and i had a county commissioner come up to me and said, texas isn't just a place you are from. it describes who your family is. i remember that regularly on special occasions like this. we are pulling together as one family as texans to try to help those who have lost their lives and their families who lost their property, houses, and those are in a bad way right now. as we go through this hurricane. i have to say, governor abbott and his team working out of the emergency manager operations center in austin, texas, have done a tremendous job. it would not be possible without the support of not only the leadership of governor abbott, but also the folks throughout the state in local government. as you here in a moment from the fema administrator, federal emergency management agency, this will be a long haul. we are trying to save people's lives. we are trying to make sure they have a place to live, safe water to drink, sewage, electricity, and lights. this will be a long challenge. in addition to the website, the governor mentioned. dis

tropical storm harvey continues south west- batter texas.is over days from now. floodwaters rise in houston. residents were told to stay safer to stay home and now thousands are asking the rescue. storm has halted about one fourth of oil and natural gas production in the gulf of mexico and more than 10% of the country's refinery capacity. the houston area produces 40% of u.s. gasoline supplies. texas governor greg abbott says oil companies were ready for the storm and will restart production want floodwaters received. harvey is turning to economic disaster for texas. damages likely to rise to tens of billions of dollars. unusually large share of victims don't have an of insurance. less than 1/6 of the homes in houston area at federal flood coverage. that would leave more than one million homes in the area and protected. the federal emergency agency expects to be in the houston area for years. fema administrator says there are about 5000 federal government employees on-site in taxes and louisiana. meanwhile, pressure on congress to act quickl

quite a large explosion on par with the the fertilizer plant explosion that had occurred in the west texas stargirl years ago but they there was they were really powerless to stop it because of the horrendous conditions there and. the whether or not that a vacuum ation area will be expanded today i would expect we would hear well before the nine am ponse conference we are hearing from the national weather service that there has been the there has been a plume that was detected and it was traveling east southeast the ones are coming from the north currently and the bill probably be keeping them for a close eye on that because this plan has been in the news for a few years now and was supposed to submit their risk management plans to. the environmental protection agency because it has such a large amounts of sulfur dioxide and metal propane and you know other other flammable chalk check our compounds outside i mean there's an awful awful list on their own website and they're very irritating to the eyes and long so whether or not we'll do a shelter in place order for people or extend the evac

so there is oil coming from west texas. oil comingw fracked into the area. there is even oil imported from different hearts of the world. -- parts of the world. we have been looking at and concerned about even increased plans of bringing oil from places like alberta, canada, with the tar sands, and more recently, the dakota access pipeline sort of helping aid that. we have got so much your already. i don't think that they are , dealing with the impacts that we have already seen, which is imminent right now. there is no reason why we should be having the flaring events that are literally gassing communities along the ship channel. amy: finally, bryan, you're #adjustharveyrecovery. explain this. >> in new orleans, after katrina, there was a very, very big lesson learned that the issues of injustice intersected so many different ways. you know, these catastrophes and disasters are not just environmental disasters. they are housing disasters. they are access to services. they are immigration issues of injustice. and so many worker injustices. so what we're doing

border patrol agents have found 20 immigrants crammed into a locked semitrailer at a check point in west texasatrol spokesman saying the immigrants out of mexico, el salvador and guatemala were in good condition after they were found early monday, 85 miles southwest of el paso. the driver of that truck now facing a federal smuggling charge in texas. the attorney general meanwhile sticking to his word on withholding federal money from sanctuary cities. jeff sessions went to miami earlier today where city leaders there have taken major steps towards cooperating with immigration law. but much of his focus was 1400 miles to the north in the city of chicago. steve harrigan explains tonight from florida. steve, good evening there. >> good evening, bill. the attorney general went to the port of miami this afternoon where he spoke before about 100 law enforcement officials in praise of miami-dade county's reversal of its sanctuary city policy. jeff sessions contrasted miami with chicago. he said the two have similar populations but chicago, which is now suing the trump administration over its sanctuar

how much rain is going to fall, from louisiana all the way over to parts of west texas.s 20 inches of rain or more and the dark area there, that brown or gray area is going to be 30 inches of rain, every where in that area, where does it go, don. that's the real rough. this can't get into the gulf of mexico, that quickly, you grew up in louisiana and i spent a lot of time in sugar land with the flood. this is a flat area where the water runs off very very slowly, so this flood, if it gets this, if we get 22, 52, whatever the numbers might be, if we get numbers like that the area will be flooded for a month or more. >> can you put that spaghetti thing up again? that's all the possible paths? >> yeah. i can't go through showing every graphing. i can't go back to my old slide but yeah the models are absolutely -- >> the one that interests me is one that says it could possibly back up and reenergize and go back inland. >> i'll use a different map, i'll find something here, i'll get one of my -- no -- google earth. now i'm going to make it smaller. there is a model don, that

you're not completely impacting -- we have 49 rigs operating in west texas. >> there think be many --hore production back online. >> the fact that the u.s. has become such a major energy producer, both oil and gas in recent years, how has that changed the dynamic of what we're seeing as this hurricane strikes the capital of the u.s. energy base? >> well, i think it's greatly changed the dynamic. in terms of production and where we produce oil and gas we're much more diverse than we were ten years ago. ten years ago we were highly concentrated to offshore gulf of mexico and these storms caused significant shutdowns. now, we have much more production out of west texas, south texas and north dock and producing more natural gas out of marcellus and uticas in the northeast. so you have more balance across the country. >> okay. thanks very much for joining us, andy hendricks, ceo of patterson uti energy. >> thanks for having me on. >>> thousands it of flights have been cancelled and more may be on the way both houston airports are closed until further notice due to flooding from hurricane h

that is the west texas intermediate light sweet crude that is so important in houston. , brentbal rinseoil trading up tencent a barrel to $52.51. crudeering which kind of they move in and out of those pipelines. take a look at the dollar down. it is down against the pound, against the euro, but it especially -- but especially against the yen. also interesting because cronus comments. i want to take a look at gold. there.l seek gains looks like it is getting closer to that big round number. it has enclosed. anna: let's look at the bond markets. a great story about how the treasury trade has got a little data to look out for. bond traders will be looking at what we are getting out of the united states. later we get pce numbers out of the u.s. and the payrolls number. we got to see issuance in treasury bills is get close to that deadline, september 29. the u.s. story but this is what we see on the futures and elsewhere in europe this hour. matt: i want to get to singapore because we need to get a check on the bloomberg first word news. we go to juliette saly. juliette: matt, the bank of ja

something else will be a rather strong, rather hot ridge of high pressure currently sitting over west texas and southern new mexico. as it gets here, temperatures inland will climb likely another 10 to 15 degrees exceeding 100 degrees as soon as this up coming sunday. that said tonight, coastal fog will be with us. and we'll see some low cloud cover near the bay. overnight lows not as warm as the past couple nights but low sixes for some of you including fremont 62, livermore 62, fairfield 62. temperatures in the 60s and 70s through the end of the week at the coast. inland in the 80s to low 90s. big change comes starting saturday and sunday. highs tomorrow looking good: >> we get hot. we save the hot word for triple digits. we'll be there starting sunday inland heat, three days in a row with the hottest inland spots in the low 100s, most inland areas in the mid- to upper 90s. but near the water, we stay relatively cool. we get an inside look, before it's torn from firefighting horses, to spiral staircases.. how mu >>> the final day for a century old bay area firehouse, we get an inside look

people along the west texas coast are given a last morning to move it. they are now wondering, what's the scene now and what's expected? >> wolf, hurricane harvey has begun to ror here in south texas. the winds, whiand the rain is almost nonstop. this will be the storm that people here remember for the rest of their lives. still playing out, will it be remembered for those still making it through or something else? the language they used to describe it is something we haven't heard since the likes of katrina. even though it's near to making landfall, when it does, that's not the end. it will only just be beginning. >> this is going to be a very major disaster. >> reporter: a dyer warning from the texas governor as hurricane harvey bears down on the texas coast, with the window to now be out of the storm's path. >> you have the power and availability right now to avoid being stuck in the conversation. >> the national army and international guards have been evacuated, with the storm packing winds of 125 miles an hour. coastal areas have waves as high as 25

and with that surplus comes lower prices so we saw on the new york mercantile exchange prices of west texas intermediate which is the u.s. benchmark go down to a five week low forty six forty four now at the same time we've got that gas the they need more of that right and so that's in you know tight supply or tighter supply and that's why we've seen a tool year high in wholesale gasoline prices to a dollar seventy six a gallon for the rest of us that prices that prices are also going up there are two dollars and thirty seven cents on the average right now so that's sort of the market dynamics on the stock market side some oil companies are doing better and some are sixteen what's going on to our viewers well really it's like they say about real estate right location location location and so if we look at the one that's really taken a tumble it's exxon mobil who's been pretty hard hit one with their beaumont texas plant that they've shut most of that down the refining capability and then just a little bit north and east of that is the number two refinery in the united states and that's in b

a few years ago i was at the disaster in west texas and had a county commissioner come up to me to say, texas isn't just a place you're from, it describes who your family is. and i remember that regularly and especially on occasions like this. because we are pulling together as one family of texans to try to help those who have lost their lives and their families who have lost their property, their houses and those that are in a bad way right now as a result of this hurricane. but i have to say that governor abbott and his team working out of these emergency management operation centers in austin, texas, chief kid and others, have done a tremendous job. but it would not be possible were it without the support and leadership of governor abbott, but also folks throughout the state of local government. but it is, you'll hear in a moment from the free ma administrator, the federal emergency management agency manager, this is going to be a long haul. we're trying to save people's lives. we're trying to make sure they have a place to live, safe water to drink, sewage, electricity and the lik

a few years ago, i was at the disaster in west texas, and i had a county commissioner come up to me who said texas isn't just a place you're from, it describes who your family is. and i remember that regularly and especially on occasions like this because we're pulling together as one family as texans to try to help those who've lost their lives and their families, those who lost their properties, their houses, and those that are and those that are in a bad way right now as a result of a hurricane. but i have to say governor abbott and his team working out of the emergency management operation center in austin, texas have done a tremendous job, but it would not be possible work without the support not only leadership by governor abbott but also folks throughout the state and local government. but it is -- you'll hear in a moment from the fema administrator, the federa federal emergency management agency. this is going to be a long hall. we're going to save people's lives. we're going to make sure they have a place to live with sewage, electricity, and the like. but this is going to be a

still below $40 a barrel on west texas intermediate.latile industrial commodities, pulling back a little bit, but still, quite high relative to recent history. up as some ofd, these industrial commodities surge, with lead gaining 3%. julie: what you miss? our next guest says there are plenty is -- plenty of reasons to be positive. millerley is with -quebec. -tabac.er there is this continuing weakness in small-cap read take a look at the bloomberg and i will describe the chart i am showing. it has slipped below its 200 a moving average at this point. what are make of this now-waiting gain of small caps versus the large caps? is definitely concern -- a tocern on a short intermediate term basis. stocks continue to be leading indicator of the economy. in 2015, the russell 2000 rolled over about a month before the market did, and resulted in a correction of about 12% in the s&p. the russell ended up in a bear market, down around 20%. i am not saying that is happening, but it shows that, between the small caps rolling over, and a number of st

and i lived in deep west texas where racism is a little bit more in your face.ith that being said, absolutely, yes, first amendment should be protected at all forms because if we don't, it should be a very slippery slope. no, i don't support violence or hatred, but first amendment right is in and of itself sacred. and i'll take any comments off air. thank you. host: adam, what about -- do you think there are any limits to speech? aside from, for example, limits set out by courts that say you have free speech but you can't shout "fire" in a movie theater because that will put people in danger? do you think there are times that hate speech could put people in danger? caller: that's an outstanding question and i am currently struggling with that very question. i'm heiring on the -- erring on the side of no. at if it's the left that has hate speech? we have to protect the first amendment on both sides. and figure out how to quell the violence in between. but it's a very scary thing if and when we start chipping away at the first amendment. trying to protect so-calle

it does not seem like it is having a big effect one way or the other on west texas.atching a little bit of a bit today. 5%n is slimmed-down by about down by about 5%. let us look at in intraday chart-- at an intraday chart of gold. it wasn't necessarily on the headlines. you can see weird stuff going on. it ended up normalizing, but no one seems to have a clear idea what happened you can see it was very exciting for a few minutes. [laughter] will take the excitement where we can get it. what'd you miss? not much of jackson hole. for donald trump, it is a constant figure of the background -- in the background. n is a macro strategist for bloomberg news. us. thank you for joining we have this conversation all the time. when is he going to have an effect on the market? it may be showing up in currencies a little bit. not with volatility, per se. you have a chart. will need to walk us through. it looks at europe -- you have a chart here you will need to walk us through. -- looks att trumps trump's approval. in france, the communist would win the presidency. you can put t

a few years ago i was at the disaster in west texas, and i had a county commissioner come up to me and he said texas isn't just a place you're from. it describes who your family is. and i remember that regularly and especially on occasions like this because we're pulling together as one family as texans to try to help those who have lost their least and their families, those who lost their property, their houses. and those that are in a bad way right now as a result of this hurricane. but i have to say that governor abbott and his teamworking out of the emergency management operations center in austin, texas, have done a tremendous job, but it would not be possible without the support, not only the leadership of governor abbott but also folks throughout the state and local government. but as you'll hear in a moment from the fema administer, the federal emergency management agency, this is going to be a long hall. we're trying to save peoples' lives. we're trying to make sure they have a place to live, safe water to drink, sewage, electricity and the like, but this is going to be a long

west texas intermediate, all about the supply concerns, concerns about u.s.uing to way down. gold getting a little bit today. and take a look the industrial metals, they had really big dave, zinc over 5%. lead gaining over 5%. copper, aluminum, having good days. combination of news out of china, increased demand and also talk about limiting supply to deal with the glut of some of the commodities, as well as trying to reduce emissions. so very nice day for some of these industrial metals, particularly think. -- zinc. those in the market minutes. scarlet: president trump disbanding to councils of business leaders, after a number of ceos resigned in the wake of his controversial remarks on virginia. admit the chaos, the next initiative facing congress is tax reform. well the republicans learned from their failed health-care effort? we will bring in the head of research and a strategy for -- capital who wrote about the effort to reform tax. stephen, you asked a rhetorical question, is tax reform less controversial than health care overhaul? you say it is still pl

even if you are an oil company in, say, west texas, that means you have nowhere to ship your oil, essentiallyt to first of first of all, i want to promo hurricane . bloomberg users can type in hurr to see where big storms are concerned. in houston, tracy, you talked to us about why wti had actually fallen, so crude is coming down again today. gas prices continue to soar. is this because of the refinery issue only affecting gas prices or do people expected to affect crude prices? tracy: most of the action has been in gas. we have gas down again for the seventh straight day today. we are seeing weakness come through in wti. when i spoke to yesterday, wti was up slightly. it is falling today. we see the discount between wti and brent falling. even brent is coming under pressure now, which really speaks to, i guess, the size of the chunk of potential demand being taken out of the market right now, and on that note also, this is starting to develop into a macro story. a lot of economists talking about the impact of higher gas prices on u.s. inflation. isember, motor fuel something like 3

congressman is visiting local dairy queens in his district, meeting constituents throughout south and west texas. he has been chronicling the journey he calls "d.c. to the dq" on such media. >> this is your congressmen going live on our second day of "d.c. to dq." this is 20 stops in six days, a meeting with constituents in the 23rd district. 820 miles of the border. september fifth was a busy fall ahead. on their list of issues to take up this fall, passing a federal spending bill by the september 30 deadline to fund the federal government. floor votes are expected by the end of the year on reforming the tax code and raising the debt ceiling. the senate is inspected to continue work on health care reform. watch live delta gabrielle -- gavel-to-gavel coverage. >> a panel will look at the mercy and cyber security with professionals in the industry looking at ways to broaden diversity in the workforce. in the afternoon, a discussion on u.s.-taiwan relations, looking at shared interests. our live coverage begins on the heritage foundation at 1:30 p.m. eastern on c-span2. you can follow both events

west texas intermediate down to $46.38. gold a little bit lower on the day.sury move, the come back and gold this year. a slight bit of a breather. the industrial medals. a lot of the industrial metals nearly another 2% today. scarlet: "what'd you miss?" u.s. stocks hit a ceiling. if you look at the s&p 500, it is down this month to happen big changes. let's bring in mark. mark is usually based in singapore. he has the following the global asia, europe.he asia the idea that despite these geopolitical concerns, north korea firing missiles over japan, it remains buy the dip. mark: very little risk aversion today. the reaction was quite negative, but it is amazing how quickly that turns. in the initial reaction what was interesting was how much was dollar-based risk aversion. we saw the dollar fall. when i came in this morning, i was surprised to see the dollar traditionally as one of the more sensitive currencies to risk aversion. u.s. centered risk aversion. joe: what does that tell you? we saw buying in the swiss franc and the yen. what does that tell you abo

oil is down 1% below $46 with west texas intermediate.on quite a rally at the day, down a little less than half a percent, but over $1300 an ounce, so around the high levels of the year. those are the market minutes. revised second-quarter gdp figures dropped, beating analysts test analyst estimates. analysts' estimates. let's bring in the chief financial economist from jeffries. the first question is, is this 3% sustainable, because we see how the first quarter tends to be weak, and we get a comeback in the second quarter. what does it mean for the second half of the year? >> i don't think we will get 3%, but we will get something between 2.5% and 3%. , there have cycle been exceptions, and going back to 1991, q1 has been the we quarter, and you see a nice rebound in q3 and q4. consumer spending revised up, investment sending revised, so those are very encouraging details of this number. julia: they are encouraging, then look at the rate market. if we look at the levels year-round, it is the lowest since that scare in 2016. not sure whet

on the commodities front, we have the nymex crude oil falling by a below $49 a1%, down barrel on west texas gold slipping just a little bit. platinum one of the big gainers -- half precious metal, have industrial metal -- gaming 1.3%. those are today's market minutes. scarlet: looks like we got results from gopro. adjusted loss per share of nine cents. the consensus estimate was $.25. from that perspective, it is a narrower loss than anticipated. joe: interesting, too, it comes a day after fitbit ranking badger -- a day after fitbit beat expectations. scarlet: here's my theory -- it is summertime and people are out and they suddenly decide they need these tools, whether camera toit, a gopro film themselves -- julia: four analysts are really bearish. scarlet: good perspective. costs are rising for technology companies -- amazon, apple, facebook, reporting rising expenses in the latest earnings. is it a change in strategy or perhaps a hunt for the next big business? stress here is that they companies -- sure, are spending more in expenses, but they -- the profits are rising as well. >> these