. >>> jason brooks is joining us with details. good morning. >> shares in tesla are dropping once again. had a pretty tough week last week on its earnings report. today a goldman sacks analyst note is downgrading the company stock rating to sell all over about the upcoming model three. goldman sacks does not think tesla will be able to launch the model 3 on time as promised. and there will be a delayed launch and cost the company a lot of cash in order to get the model 3 out the door. there is also concern on solar city now being part of tesla. and that solar city also take a lot of cash and as a result goldman sacks is feeling pretty barish about the company in the near term. rite now things at the stock is just too pricey. >>> the commerce department says durable goods orders in january rose by the strongest amount in several months. although a key category tracking business investment slipped a little bit for the first time since september. stock market just keeps on winning. modest gains on friday. last second rally lifted the

k-c-b-s radio financial reporter jason brooks. jason brooks from k-c-b-s radio. thanks. flags will fly at half-staff today.. >> dow continues to climb at a record territory, up over 20 points, nasdaq has turned negative. nasdaq down 10 points, s&p up by three points, michelle and kenny, back to you. >> thank you. jason. >> flags will fly at half-staff today in honor of a california highway patrol officer. 31-year-old lucas crashed his motorcycle chasing a suspect last night. it happened around 6:00, south of sacramento. he was rushed to the hospital where he later died. he had been with c-h-p for eight years. >> time to take a live 5:00 at some of the scenes over san jose where there are still some mandatory evacuations. yesterday, there were 14,000 people in the mandatory evacuation area, down to 4,000 today. william street park area, part of the area cleared for reentry. rock springs area evacuation still in place as well as the old oakland road area. we'll have updated throughout the day as well as on our website. >> let's get a check of traffic and see how the roads

joining us now is kcbs financial reporter, jason brooks. >> good morning. the dow has seen record closes in 10 straight sessions. we have not seen anything like that in three decades. that winning streak is in jeopardy. today's stocks are heading lower. there are multiple reports that president trump may push his infrastructure spending plan to next year in order to clear out more room for his agenda on capitol hill this year. that has impacted a number of big industrial and materials companies, their stocks are moving lower. earnings have also fueled the stock market rally, better than expected for the 4th quarter. a couple of bay area firms are a focus today, one good, one not so good. hewlett-packard enterprises our revenue dropped 10%. the recent ceo blaming a number of problems including foreign exchange fluctuation as well as some near-term execution misses for the company. this while hp, the part that mix computers and pcs, was cheered on wall street for stronger pc sales in the recent quarter. also, restoration hardware has been struggling, sales do

kenny and michelle, back to you. >> thank you, jason brooks from kcbs radio. have a good weekend. >> you, too. >>> in solano county health officials are trying to make your sure one case of tuberculosis at a high school doesn't cause others. someone at armijo has an active case of tuberculosis. they won't say if it's a student or faculty but the person is being treated and won't go back to school until cleared. the principal is trying to identify everyone with close contact with the infected person. >>> evacuations are under way in southern california as residents brace for the strongest storms to hit the region in years. the national weather service warns about floods and mudslides. people are using sandbags. major cities like los angeles and san diego could get hit with over an inch of rain an hour. break some records. >>> time now 6:46. let's get another check of traffic with roqui. >> all right. thank you. >>> i hope you're having a good breakfast, some nice coffee because we need you alert on these wet roads this morning. let's check the richmond/san rafa

coming up we'll get an update from kcbs radio's financial reporter jason brooks. ,, >>> good morning. the here at kpix 5 we're under storm watch. time check 6:43. look how the screen is all lit up. this is only the leading edge of a cold front sweeping down on the bay area now receiving reports of moderate rainfall around the monte rio area back through windsor, bodega bay, now entering santa rosa as you jump on highway 12 to one one. san rafael, light to moderate rainfall there. also mill valley, sausalito and tiburon. bolinas has had some heavy rain. this is the leading edge. wet into the city of san francisco. traffic and weather together in less than four minutes. >>> coming up on "cbs this morning," gayle king has a preview. >> reporter: good morning. we're spread out across the northeast for the huge snowstorm slamming the region this morning. plus, an ohio clinic accused of falsely diagnosing dozens of people's alzheimer's and other forms of dementia. one of the patients shares a huge emotional toll it took on his family and they have written hits for stars like slow rider now

joining us now is kcbs radio's financial reporter jason brooks. >> reporter: good morning. each morning we wonder if this is when the rally ends. but so far, it's not happening. we have seen five straight sessions in which all three major indices have posted record highs. that hasn't happened since 1992. stocks got a boost yesterday after president trump said a massive tax plan will be coming soon. corporate tax cuts, at least the promises of that, along with deregulation and infrastructure spending have really prompted the post- election stock market rally. we continue to get a lot of good economic news, as well. although today, the commerce department says that new home starts in january pulled back a little bit from december. december was a big surge and a lot of the decline came from weaker apartment construction single-family home construction on the rise, and overall home construction still up over 10% compared to a year ago. one thing that could juice the stock market in the coming months is a big ipo. snapchat's parent snap has set a range of between $19 to $22 bill

kcbs radio's financial reporter jason brooks reports. >> reporter: good morning, michelle and kenny. such exciting news. it's easy to get tongue tied on it. uber is really getting serious about flying cars. it's hired mark mora a, a leading nasa engineer who published a paper on the feasibility of flying cars in the sense they would take off and land like helicopters but be smaller and quieter. obviously, reducing gridlock on the roads. now, mora tells bloomberg he knows there are hurdles to overcome but says it is possible with uber given that it's got 55 million active riders that he sees potential down the road or in the air so to speak for flying cars. >>> gap is showing a bit of a turnaround. it's been trying to turn around its struggling business over the past year and gap reported that its 4th quarter sales were better than expected. it saw sales gain in its flagship store, old navy performing and even though banana republic had a decline, better than last year so their shares are going up. a lot of rivals have reported very weak holiday season sales. >>> stock market is looki

financial reporter jason brooks. good morning. >> good morning. >> we start the week off with a big move here in the bay area. and this is zeltique esthetics is being bought. >> the flagship product is called the cool sculpting system and helps reduce unwanted fat. that is a market they believe is worth 4 billion-dollars and is growing. they have over 660 employees in stock and is at an all time high because of the deal and over apple on wall street on the upcoming iphone. tenth anniversary version when it comes out this fall in a goldman sachs analyst believes it could include 3-d financialality and allow it to have more agomented reality feature to it. it made it. and in the first real upgrade in a cycle in several iphones and that phone not expected until september at the earliest. stock market finish last week of record highs and we continue to head into unchartered territory and all three indid you say cease record high again. up to a strong start with the stock market. dow is up 100 points and nasdaq gaipting 2

. >> and joining us is the financial reporter jason brooks. good morning. >> good morning. might be a bit of a combination hangover for wall street today. partially after sighing the single best games of the year on friday and after the crazy super bowl comeback. a little slowness for a lot of people, including wall street this morning. stocks were pulling back and we saw the big games on friday after president trump signed orders that rolled back recent financial regulations that were born out of the financial crisis in great recreation. and that really fueled bank stocks higher. that i have led the rally since the election and mainly on president trump's promises of deregulation and corporate tax cuts. almost 100 take firms a i lot of key sill cop valley tax firms banned together and -- together and signed an apicus brief challenging -- a amicus brief challenging the executive order. those groups say that the immigration ban would inflect significant risks on the businesses. tech firms have had a lot of concern about this and it's weighed in on the stockence is the electi

. >> cbs radio money reporter jason brooks had to practice. the words he gave came from the spell it list and the merriam- webster unabridged online dictionary. >> i got to take the time and study up on these words. i find a lot of the time i don't pronounce them the way they are supposed to be pronounced so i have to take away the -- >> reporter: parents waited, dave schwartz brought his own chair so he could whisk his daughter to her black belt test afterward. >> she is calm. the parents not so calm. [ laughter ] >> reporter: after the two-hour competition, -- >> some words i couldn't even pronounce if i read them. >> it was really fun. and i mean i made some new friends. >> reporter: now students must wait for the results. in berkley, sharon chin, kpix 5 news. >>> good for them. a team of teachers will grade the test. students should know by the end of next week whether they will move on to the cbs bay area spelling bee in march. >> good for jason brooks. he is giving it his all. >> absolutely. all those kids on a saturday, sunny saturday d

kcbs radio's financial reporter jason brooks joins us. >> reporter: lots of economic news in and some of it is good. that includes retail sales in january. the commerce department says it was a gain of a .5% that came after a solid month of december. and most categories saw gains all except for auto dealers, restaurants were a bright spot with strong sales in january. that's a good sign because the restaurant sector was under a lot of pressure in 2016. >>> also on the rise is inflation. labor says consumer prices rose at the fastest pace in four years. over the past 12 months prices run 2.5% above the fed's 2% target and that raises the odds for a fed rate hike at the central bank's march meeting. >>> jack dorsey twitter's ceo had a big valentine gift for twitter shareholders. he bought $7 million worth of twitter stock this week a sign he has confidence in the company even though wall street didn't have confidence selling off stock after disappointing fourth quarter earnings with user base flat after two years. twitter stock took a gain off the move yesterday and it's on the rise tod

. >> joining us now to explain is kcbs radio's financial reporter jason brooks. good morning. >> reporter: good morning, kenny and michelle. netflix looking to make toys, bikes, comics books, other merchandise tied to the shows on netflix. and not just netflix original programming but bloomberg says the company is also in talks with other tv studios about licensing products tied to their shows. netflix believes that marketing the shows will reach a bigger audience if it can sell things like toys, mugs and t-shirts. that's something that's been a big hit for disney over the years. and in the 4th quarter alone, disney had $1.5 billion in product-related sales tied to its various characters. and disney just reported its earnings for the 4th quarter. earnings were mixed problems with espn as advertising revenue was down double digits. parks and resort revenues a big hit surging higher and disney also announcing that its "star wars" theme land at disneyland in southern california and disneyworld in florida will open in 2019. disney's shares are heading higher but over

joining us now is kcbs radio's financial reporter jason brooks. good morning. >> reporter: good morning, michelle. good morning, kenny. apple shareholders doing the happy dance today after the company turned in its best quarter in some time. it reversed three-quarters of declining revenue thanks to gang buster sales of the iphone 7. sold 78 million iphones in the quarter better than expected. revenue topping $78 billion. services revenue growth seems like apple music itunes payments showing strong growth for the company. apple shares are up 5% in the early going. apple on track for its best single day in 6 months. that's doing a lot of heavy lifting for the stock market. looking to rebound after its worst two-day stretch since the election! getting some good news on the economy, adp says private firms added 246,000 jobs in january. that's much better than expected. labor delivers its january jobs report on friday. and the fed wraps up its first meeting of 2017. it would be a big surprise if the fed raised rates given all the political uncertainty

. >> joining us now kcbs radio's financial reporter jason brooks. >> reporter: good morning. facebook continues to dominate the social networking world. it saw a big increase in users in 2016. that's more than 1.8 billion. and in the 4th quarter users spent a lot more time on facebook especially watching videos. that's key for facebook. ceo mark zuckerberg said he wants to make facebook video centric and that includes developing an app for tv set- top boxes in order to watch facebook videos on your tv. also, facebook is in talks with various media companies about licensing original content. facebook shares are down despite the solid earnings. the economy is in focus again this morning. the labor department says first time unemployment claims dropped by 14,000 to 246,000. unemployment claims have now remained below 300,000 for 100 straight weeks. first time that's happened since 1970. stock market broke its two-day slump yesterday mainly because of apple. apple had a big 4th quarter. and its shares surged to the highest level in 18 months, responsible for yesterday's gain. we

here's kcbs radio's financial reporter jason brooks. he said patriots earlier, jason. >> reporter: i'm pulling for the falcons. my wife went to school in atlanta. >> i'm a giants fan. i can't root for the patriots. >> reporter: let's hope for a good game. getting good news on the job market. the labor department reported that in january, there was a gain of 227,000 jobs, that was much more than expected. the unemployment rate ticked higher to 4.8%. that was due to more people looking for work. wage growth is a little weaker than in december but still, stronger than the annual average over the past couple of years. president trump is making good on promises to the financial industry to deregulate the financial industry. he plans on signing orders today one that would establish the framework to either repeal or greatly rework dodd frank and delay implementation of the fiduciary rules which requires financial advisers to act on the best interests of their clients. bank stocks have soared since the election on the promise of regulation beca

. >> joining us now is jason brooks. >> u.s. corporations are taking sides on the proposed border tax. routers says that the ceo's of several large retailers including gap along with best buy and target and several others will head to washington this week to talk with members of the house and the senate about that proposed border tax. house republicans are currently crafting policies which would lower the corporate tax rate from 35 to 20% but also put a 20% import tax on goods. those retailers say the cost of that import tax would out weigh the benefits of lower corporate tax rates, it would raise prices and really hurt their businesses. there are others in favor of the border tax. they have their own coalition. that includes boeing, general electric, and pfizer. the stock market has been on quite the rally as of late. we had record closes for all three major averages. for the first time in its history. the s & p500 all the companies combined having market cab now of $20 trillion. the market has been on quite the run. today taki

. >> jason brooks from kcbs radio, thank you. >>> transportation officials just gave the permanent green light on the plan that regulates corporate commuter shuttle busses in san francisco. the program allows sugarses to use muni -- shuttles to use muni stops in change for a fee. about 10,000 people ride the shuttles daily between san francisco and the silicon valley. >>> welcome break from the rain will help dry things out in the tri valley. take a look at the los placidas, take a look at the flooding. >>> we're going to take a live picture from chopper 5 right now over a flooded neighborhood. this is in san jose. you can see all of that water there and just up to the front porch of that house. many tomorrows in that area. we've been telling you all morning hundreds of people evacuated from parts of san jose. that mandatory evacuation, is covers the entire area along coyote creek. that's north of 280. and south of 237. a lot of people had to spend the night at a local high school, another school is set up for people who are evacuated. and now the big push is to get people to safety but

. >> joining us now is kcbs radio's financial reporter jason brooks. >> reporter: good morning. it's been a struggle for a lot of department store chains for the past couple of years. none more so than for sears. sears is announcing it's going to cut $1 billion a year in costs through a number of moves including cutting back in its corporate headquarters, a number of other areas and that's on top of closing 150 stores. that's 102 kmarts and 48 sears. the question is whether or not any of this will matter. sales of the two chains combined in the 4th quarter are down by over 10%. shares in sears are surging high they are morning on the plan to cut costs though. lots of earnings coming in from bay area firms. pandora is one of the winners. its shares are moving higher and a big gain in revenue. graphics chipmaker nvidia doing well on strong sales in the 4th quarter. yelp is a different story. had a good quarter but its forecast for the current quarter was light. as a result, the shares are diving in the early going. however, a lot of that profit- taking. yelp stock has nearly tripl

brooke? >> jason, thank you. this is one of those venues that reminds me of campaign rallies you went to so many of with the back drop of the plane, mega rally, crowds. i have a couple more i want to bring into this conversation. cnn political comment airport, ana navarro, andre bower, and the associate editor of the financial times. so welcome to all of you. you and i were chatting as we see the pictures of the president. boeing, in your book, you wrote about the dreamliner and the supply chain. let's just be on balance. on the one hand, this is awesome for america, in south carolina, in jobs. but it is not as awesome perhaps if you dig a little deeper. >> well, it's very mixed. that's the truth about the manufacturing story and the american economy in general. boeing 787 is one of the most complex supply chains ever known to aviation. >> how so? >> there are dozens and dozens of countries where the parts are being made. if you think about the proposed import tariff, that would hurt boeing, who gets so much of i

i'm brooke baldwin. thank you for being with me. exactly one month into his administration, president trump is harkening back to the good old campaign trail days. he gave a big speech in front of big crowds focusing on what people say was the reason he landed the presidency, the economy and jobs. today the president became very first sitting president to visit boeing's campus there in north charleston, south carolina. the president helped to unveil boeing's 787-10 dreamliner airplane. there the president praised the corporation that he once accused of overcharging the government. remember that tweet from a couple minutes ago, air force one cost too much? this is him moments ago in front of a crowd at boeing. >> my focus has been all about jobs. and jobs is one of the primary reasons i'm standing here today as your president. and i will never, ever disappoint you. believe me. i will not disappoint you. i campaigned on the promise that i will do everything in my power to bring the jobs back into america. y

jason furman is one of our most academic from brookings and the former chairman of the president's council, president obama. you guys worry about getting the inflation call wrong. there was that japanese moment 15 years ago -- the japanese raised their rates. the deflation is over. no it wasn't. there is a huge fear of getting a call wrong. is that where we are now, globally? as stanley fischer said, we do not want to get the inflation call wrong. jason: he certainly do not want to get it wrong and we have been in a brick situation for a while now. the phillips curve has been really flat. you can have a low unemployment rate without a big increase in inflation. that has been our friend to date. if inflation gets above target, that could become our enemy because it would say you might need a higher level of unemployment than you normally think -- what economists used to call the sacrifice ratio. has given uscurve less inflation, but might make it harder to take inflation out. tom: let's sacrifice jason furman and bring up the chart. this is a real quick chart on the idea of a u.s. inflation

with me here for the next couple of hours, film critic jason with me here for the next couple of hours, film criticjason solomons and fashion writer lorraine candy from the sunday times. a quick thought about whether we may get any surprises tonight, jason? will it all be about lala land?|j surprises tonight, jason? will it all be about lala land? i love it so it wouldn't upset me. we could have a surprise. moonlight seems to me to be the one that could trip lala land up. it is charming. it has a bit more heft to add. —— it. lala land was great fun but what does it mean? it is quite la focused. will it go with the bafta voters? there are chances. i'd be surprised but that's what awards are all about. lorraine, what should we be looking out for on the red carpet, apart from thermal, frankly, tonight? well, it is the highlight for fashion from thermal, frankly, tonight? well, it is the highlight for fashion for the year. very exciting. a lot of yellow and pink and we have seen it already at some of the award ceremonies. there

because i do. [ cheers and applause ] >>> welcome back, you're watching cnn i'm brooke baldwin. mexico is warning citizens living here in the u.s. to take precautions and stay in contact with your nearest consulate, end quote. this mother of two was convicted of living in this country with false papers and one of the first undocumented individuals to be deported since president trump took office. and cnn just talked to her husband. >> my wife is not a threat to the united states. she's a good person regardless of her status. we are a family just like any other american family. it was kind of surprising. we signed trump -- since he was elected president we knew that -- what the outcome was going to be. not being president yet and hillary took in president -- any other race, we knew he was going to attack the hispanic community and other communities. >> let's talk about this. a state senator from california who wants the state to being a sanctuary state. thanks for being with me. >> thanks for having me. >> you have these immigrant advocate groups, and now they're saying it's more

let's bring in jason furman and peter orszag, former omb director. both these gentlemen are going to be participating in a forum this morning based on a new brookings hamilton report titled "if you build it," a guide to the economics of infrastructure. thank you for joining us. peter, lay out how bad this problem is. we've heard fred smith talk about it at fedex, how the tires are lasting less than half the time they used to 20 years ago because the roads have gotten so bad. how much do we need something like an infrastructure spend? >> well t clearly would be beneficial, although i think we need to be careful about targeting where we need help. for example, you mentioned road quality. actually, evidence suggests that the share of our road surface that is rated good or better has increased from a third to a half over the past couple decades. it's not where it should be, but there has been improvement. i think the issue is not whether there's needed infrastructure investment. the question is how to do it and how to make sure it's effective and efficie