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tv   News  Al Jazeera  August 25, 2015 10:30am-11:01am EDT

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overpass these men debate their future. for decades a booming venezuela welcom welcomed colombia immigrants, but now many think a return home could be on the horizon. a major turn around for u.s. markets. soaring higher this morning as they shrug off global worries and china's massive selloffs. a huge wildfire grows even bigger in washington state. now another half a million homes are being activated. and the nra goes after seattle, suing over a new tax meant to stop gun violence. ♪
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this is al jazeera america live from new york city. i'm stephanie sy. buyers are out in force this morning on wall street. [ bell chimes ] >> the dow is climbing, despite another huge selloff in asia. stocks in china plunged, but right now taking a look at the big board, the dow is up 256 points, the s&p and nasdaq also higher this morning. it's a major turn around from yesterday where the stocks fell more than 3%. mary snow how are the marketing looking so far? >> reporter: an hour into the trading day, the markets are up, the dow jones up 270 points. stocks surged within the first few minutes of the opening. the move by china overnight to cut interest rates helped accelerate the buying and set the momentum for the day, but
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putting it in perspective is alan valdes, the director of floor trading at wall street capitol partners. thanks for joining us. you said that china's move is the fifth interest rate cut since november. how much really can that be -- how much help could that be? >> exactly. it hasn't worked here. it alleviates a lot of pain but never cures the patient. but it does give a little bump and stimulus today, and will probably carry over for the rest of the week. remember, where the market opens on monday and where it closes, you really want to know where it closes on friday, that's the key. but today we got a nice little bump. volume is light, but we are getting a little bump. >> the underlying worries, though, were still there. do you expect the worst to be over, do you think we'll see more steep losses? >> you are right. the problems that existed on thursday and friday that drove us to monday, they are still
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with us. it's the fifth rate cut since november, unemployment is still bad, oil is still sliding here. there's still a lot of trepidation around the world. i don't think you'll see a thousand point drop again. >> reporter: speaking of that dramatic drop yesterday, we were talking a lot about the role of computerized trading and some of these wild swings, how much of that has to do with the wild swings. >> that's a great question. if this has been the '80s or early '90s, you wouldn't have saw a thousand-point drop. i'm almost certain. the humans would have intervened and said, hey, let's slow this down, take a look and see what is really going on. with computers they just pile on and pile on, then they reversed it and they piled up, but you
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wouldn't see the wild fluctuation. i think it will be more controlled next time. >> alan thank you so much for joining us and for your perspective. and stephanie, it seems like the only thing traders are aragreeing on is that there is turbulence ahead. >> mary snow reporting from the stock exchange. mary, thank you. the asian markets did not fair as well as wall street. the shanghai composite closed 7.6% lower. shanghai's plunge started early and continued for much of the day. rick newman is a senior writer for yahoo finance. good morning, great to see you. >> hey, stephanie. >> has this interest rate move made wall street more upbeat? >> i have my doubts about that. it's a little bit puzzling that investors would feel better, given that the chinese authorities basically said the
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banks can lenning more money into a economy that has too much debt. i think it shows they are certainly paying attention in beijing. another interesting thing didn't happen, and that's that the chinese authorities did not intervene in the stock market itself. they did not direct anybody to buy stocks, which they have done before, they basically just let it fall. so maybe that's an indication that they are going to let their markets -- let those normalize and just find an equilibrium state so at least we'll know what is really going on with those markets. >> a lot of analysts have said that those markets may be overvalued and may not reflect anything real happening in the chinese economy anyway. what forces are at work that are lifting the spirits on wall street today? >> i think investors are sort of beginning to decouple the
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chinese stock markets from the chinese economy, and certainly decoupling the real markets from the chinese stock market. the chinese stock market matters to the extent that it is a proxy for the chinese economy. the concern has been -- that's a closed market we're talking about. foreigners cannot play in there. it's not considered an open market. but problems in the chinese stock market have reflected problems in the chinese economy. and i think we're just getting comfortable with the idea, what do these moves actually tell us about the chinese economy. we are getting used to the idea that there may be problems that are worse than we think. and we're hearing talk about looking for bargains. >> i guess why it's confusing is why did it matter yesterday to wall street, and not matter to them today, because shanghai was
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down 7.6% today. >> i would not say it doesn't matter, but i would say other things seem more important today. the direction of markets is always -- you are always trying to disentangle which are the most important factors driving markets one way or another. we saw a big jump up in apple today for instance. people looking at that saying this is down way too much. and we're getting more news about the u.s. economy today for instance, the housing market looking pretty good. consumer confidence came out looking pretty good. so we're being reminded that we have some pretty good fundamentals here in the united states, maybe we should look at those more. >> would you expect more volatility in days to come? >> yeah, absolutely. we still have that big factor out there, which is what is the federal reserve going to do about interest rates. there's no reason to think this will settle down, or we have
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found a bottom. i think in the long term, there is reason to think that we will seay linement between the u.s. stock market and the u.s. economy, so if you think the u.s. economy is likely to do derecently or pretty well in the future, you might think the stock market is likely to follow. >> rick thank you for your incites. the biggest wildfire in washington state history is only growing this morning. it measured just over 400 square miles overnight. evacuation orders are now in place for another half a million homes. several active duty soldiers have started helping in washington state. the soldiers are most involved in areas already burned to make sure there are no new flairups. >> reporter: we're in north central washington at a fire camp. the roughly 400 firefighters
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staying here are working fires throughout the state. there is still massive fires throughout the state of washington including this fire, which is the largest fire in state history. and that means that thousands of residents are being evacuated. there's no welcome mat, but this campsite with two tents and a camper is home for the parker family and others right now. they have been camping since they fled their north central washington house a week ago. >> we left to tanascut, we was there for roughly four ours and evacuated all of tanascut. >> reporter: about 30 miles away, evacuated residents like sandy found some comfort sharing stories with other displaced families in the parking lot of a home-improvement store. these tables are stocked with food and supplies from this store as well as community
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donations. >> they have made us feel so welcome and secure. they have cared for us. they are feeding us. >> but it may be a while before they are allowed to see whether they have a home to return to. more than 1200 firefighters are working what is now washington state's largest wildfire on record. more than 400 square miles have burned here and it's growing rapidly, while the smokey air acts like a lid to calm the fire, the poor visibility grounds any aerial assault. >> it keeps a lid on the fire behavior, but limits or prevents us from being able to use aviation assets to their fullest extent because of aviator safety. >> reporter: families like the parkers desperately try to reach neighbors. neighbors who ignored evacuation orders and refused to leave their homes and businesses. jesse finally reaches his younger sister, searching for
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any word on their home. >> not good in where is it at? where is your fire at? it was at rick's house last night? >> reporter: for now the family waits it out, wondering what is next. and at last check the parkers still camping, still waiting to hear if their home is okay. meantime conditions remain tough out here. >> and the massive wildfires can be seen from outer space. these satellite images capture the sail of the flames in addition to the dozens in washington state there are 40 active fires in california and another 19 in oregon. the nra is gearing up for a big battle over gun control, it is going after a city law in seattle to tax guns and ammunition. john henry smith is here with both sides. >> reporter: good morning, stephanie. the nra says the law and companion measure are unfair, and won't do what they are designed to do. supporters say the tax is needed
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to raise funds for research on how to cut down on gun violence. the national rifle association and other guns rights groups sued seattle in state court over the decision to tax firearms and ammunition sales. the tax amounts to $25 for each arm sold in the city. it is designed to fund programs to cut gun violence and research its causes, but they argue that bypassing this measure, seattle has violated a state law barring municipalities from unilaterally enacting firearms regulations. and argue similar laws haven't helped. >> in chicago they did raise a good deal of money, but right now you are looking at it as the homicide capitol. >> reporter: for advocates, the
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money raised is more than an ancillary issue. taxpayers paid upwards of $12 million last year to treat gunshot victims. anti-gun law groups also filed suit against another come pan shun measure that requires gun owners to report lost or stolen firearms to police. >> if somebody steals your gun collection, and you are able to account for 99% but you miss one firearm, and you realize that a week later and go to the police and say i forgot about this one, you are a criminal now. >> reporter: gun rights groups say they have precedent on their side. in 2009 the group successfully challenged seattles ban on guns in city parks using the same argument that only the state has the right to pass gun laws. a boston judge has rejected
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a motion to release the names of all of the jurors in the boston marathon bombing trial. but kevin fagan said he can relate to the convicted bomber because they are so close in age. >> i tried to remember how it was when i was 19, 20, 21, and the attitude that i had, you know. i was a little more stanch and hauty as a person, and now i'm a little bit more humble and respectful. i try to be. so, yeah, i could totally relate to him in -- in that regard. >> reporter: tsarnaev was sentenced to death in may. his attorneys have launched an appeal and requested a new trial. many college campuses are opening their doors for the school year, and it comes with new rules in effect at top sexual assault. the creative measures some schools are taking to get their message across.
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>> our american story is written every day. it's not always pretty... but it's real. and we show you like no-one else can. this is our american story. this is america tonight. welcome back to al jazeera america. it is 10:47 eastern, taking a look at today's top stories. isil has released images on social media that it shows the destruction of a 2,000 year old temple in palmyra, syria. they show them laying explosives, the explosion, and the aftermath. the u.n. cultural agency has called the destruction of the temple a war crime. police in germany are investigating a fire in a
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building that was set to become a shelter for refugees. it was accept pose to house 130 asylum seekers. this within the region saw violent protests against refugees. and iran orders no release for the "washington post" journalist. he was detained last year, and is now awaiting a verdict in his espionage trial. sexually suggestive banners have prompted a university to force a fraternity remove the banners. it says it will take action against any fraternity members found responsible. more and more schools are rolling out programs designed to
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prevent sexual assault. inez has details. >> if you are still struggling with consent. just imagine you are making them a cup of tea. >> reporter: this is one of the videos amherst new york plans to use to teach its students how to prevent sexual assaults. >> if they say no thank you, don't make them tea at all. don't make them drink tea. or get annoyed at them for not wanting tea. they just want tea, okay. >> reporter: it's part of a plan across college campuses to help prevent sexual assault. in some states it changes the definition of consent. >> for me i was raped in my own dorm bed. >> reporter: the changes were spurred by high profile assault claims, such as those made by a
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columbia university assault student. she vowed to carry around a mattress as long as her rapist attended the same school. >> it's a crime. it's wrong. >> reporter: the white house estimates one in five women has been sexually assaulted during her college years, of those assaults only 12% are reported. last year the white house announced the it's on us campaign to stop sexual attacks on campus. >> city by city, state by state, this entire country is going to make sure that we understand what this is about, and that we're going to put a stop to it. >> reporter: new regulations also require training for personnel and notifying victims of their rights. going green to make more green. businesses look to be more environmentally friend. and jeb bush hits back at donald trumps immigration plan but not before stirring up
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controversy over his own choice of words. ♪
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>> i lived that character. >> go one on one with america's movers and shakers.
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♪ the debate over immigration is once again causing anger in the republican presidential race. the latest back and forth is between jeb bush and donal trump. the former florida governor visited the mexican border
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monday. he says trump's plan will not work. >> his proposal is unrealistic, it will cost hundreds of billions of dollars. it will violate people's civil liberties. it will create fiction with our third largest trading party that is not necessary. and i think he is wrong about this. >> trump has tempered his immigration rhetoric in recent days, he now says he would allow good and talented immigrants back into the country after they have been deported. bush tried to backtrack on comments he made last week. but in the process of explaining his comments, bush said this. >> the fact that i'm immersed in the immigrant experience, this is ludicrous for the clinton campaign and others to suggest that somehow i'm using a derogatory term. i was talking about the specific
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case of fraud being committed where there's organized efforts, and frankly it's more related to asian people coming into our country, having children in that organized efforts, taking advantage of a noble concept which is birthright citizenship. >> a spokesperson says that bush was referring to a federal investigation where wealthy foreign women, some asian deliberately come to the u.s. to give birth. president obama is calling on americans to take a chance on alternative energy. he outlined new programs designed to help americans go green. >> we're going to make it even easier for individual home owners to put solar panels on the proof with no up front cost, so we're taking steps that allow more americans to join this ref lugs with no money down. >> the summit is also designed to get more companies on board
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the bandwagon. >> reporter: it used to be that only crack pot engineers and diy off the grid types were the only people that would try to build a life and business off of clean energy. but now a new kind of entrepreneur and business is being made possible. american companies used to go green because it was good publicity. now they are going green because it's profitable. >> when i started working in clean energy in the 1980s, the joke was there were a few crack pot billionaires who aimed to make their next billion in clean energy. now you can legitimately make your first billion in clean text. >> reporter: in the 1970s dupont ridiculed the notion of ozone depletion. in 1999 it announced it would
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cut greenhouse emissions by by 40% by 2010. it reported an annual savings of over $2 billion through energy efficiency. that's roughly the same element it was declaring in annual profits. the environmental challenges we face in this generation are causing us to look at cultural patterns that we abandoned from the last generation. if you look at the bridge behind me, you can see the traffic is entirely carried on the top deck. when this bridge opened on the 30s, the top deck was for all cars going two directions. that's all they kneed. the bottom deck was for delivery vehicles and an electric train system. now that kind of concept may be worth another look. ryan runs a company that builds electric buses. >> your typical diesel bus only
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gets 4 miles per gallon and they are running 40,000 miles a year, so your calculator runs out very quickly when you try to figure out how many barrels of diesel that vehicle moves through. if california moved over to electric transportation it would reap the environmental benefits and the fuel would be a locally produced asset. because we have one of the greenest grids in the nation. so you would have a job creation benefit on the power side as well as on the vehicle side. >> reporter: it's that sort of economic incentive that is powering this new wave of companies. >> reporter: meetings like the clean energy summit are all about bringing together hardware, innovators technology and financial innovators. so you can legitimately be the brightest person in the room and
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choose a green company. >> reporter: when you think of all of the instruments that have come on line in the last few years, your can see why there is so much heat around this sector. take batteries, our phones always die at the end of the day. it's that type of technological limitation that they are trying to leap forward with. it's just sort of this long list of -- of opportunities that people are seeing. used to see it as the way of the world, but now everyone is seeing it as waste and inefficiency that can be addressed. that's truly the nature of this summit. >> jake ward reporting. it's a great day to visit a national park, admission is free. they are celebrating their 99th birthday by dropping admission frees around the country.
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thanks for watching. i'm stephanie sy. the news continues next live from doha. have a great morning. ♪ >> announcer: this is al jazeera. ♪ hello welcome to another news hour from al jazeera from our headquarters in doha. i'm adrian finighan. coming up, eight south african police officers are found guilty of murdering a man who was handcuffed to a van and dragged behind it. the red cross suspends its operations in the yemeni city of aden, after its office is attacked. china cuts interest rates in the latest stimulus measure. as it battles a major drop in