karen travers, abc news, washington. >>> let's get a first look at the early trading right now. the dow dropping as we mentioned, down 107 points. 110 points now. we'll get more on early trading when we check in with bloomberg cali carlin live from the new york stock exchange at 6:45. >> buckle up. likely to be a wild ride. >> the market roller coaster is causing more investors to turn to gold as a safehane. unfortunately, that is making people wearing gold unsafe. in fact, some women are having gold literally ripped off their necks in oakland. abc7's terry mcsweeney joins us live from the fruitvale bart station. where the police warn women to keep their jewelry out sight. it's that bad. >> yeah, gold at $1800 per ounce, all-time high. it has thieves acting at all-time low. walking up to women, ripping necklaces off of them in broad daylight and running away. in out one or a few but a lot of attacks. this has happened in dozens of times in the past 90 days. police don't have much description despite attracts except for the men, late teens, early 20s. in and around the fruitvale,

karen travers, abc news, washington. >>> 4:51. yesterday afternoon, nice, warm. today, do we retreat? >> in a few areas, a few degrees. but maybe not noticeable until this weekend when the real cooling trend moves in. we have minor fluctuations in the next few days. a lot has to do with the cloud cover that you're seeing here. some days is thicker like today. some days is non-existent like yesterday. you can barely see the top of the bay bridge. i suspect there is drizzle along the coast also. talk about the temperatures stepping out. 48 in san rafael. 61 in antioch. everybody else in the mid-to-upper 50s. cloudy conditions around the monterey bay. inland to salinas. mid-to-upper 50s there. not as cloudy around gilroy, 51. the highlights, sunny this afternoon. near normal high temperatures. minimal changes through friday. and then more clouds and cooler weather as we slip in to the weekend. for today, here you go. one degree cooler in concord and san jose. same in oakland and san francisco. one to two degrees warmer than fremont and santa rosa. that's how negligi

i'm karen travers. i have that story coming up. >> look. surveillance camera capture smack and grab robbery in concord. these are the first pictures we're seeing. what the store employees say was taken. >> i am nick smith in oakland. two people arrested in a drive-by shooting that killed a 3-year-old. what the community and cops are saying. and how they are fed up with the crime. >> tampa and orlando with flight arrival delays. everyone else on time. >> we have sig-alert on redwood city, southbound 101. >> closed captioning brought to you by mancini sleepworld. >>> good morning. 6:29. the opening bell will soon ring on wall street. >> okay. there it is. the opening bell soon to ring. this morning, wall street is hoping to build on yesterday's stunning 429-point surge after the asian and european markets did their thing overnight. >> we have more on the overnight boom for the overseas markets in a few minute and we'll go live to jane king at the new york stock exchange for the latest on early trading coming up at 6:45. >>> right now, we will

karen travers has the latest. >> tampa police say the 17-year-old meticulously planned his attack for the first day of school next week. >> he also mentioned his desire to cause more casualties than were suffered at columbine. >> yesterday, he was arrested for plotting to set off bombs at the former high school. the target, 30 students and two assistant vice principals. but they prevented another school massacre. tuesday night, police got a lead to his apartment. >> they indeed found a manifesto written by jared that outlined minute-by-minute to include debt kating explosionive devices through the school. police say he acted alone. he was expelled in april and had not enrolled in classes last year. he has been arrested four times on charges from marijuana possession to carrying a concealed weapon. there are pictures of him with machete and a knife. freedom high school 2100 students are scheduled to start school as planned. >> the government investigates the company that just downgraded the u.s. credit. coming up, the allegation that has s&p under scrutiny. >>> pope benedict begins a f

karen travers, abc news. cali carlin joins us live from the new york stock exchange with a look at early trading. >> signs are that the economy is improving. they are out with quarterly result that came in better than they expected. they cut the forecast and blamed the slower spending on pc and consumer technology. the dow, nasdaq, and s&p higher right now. we have green arrows across the board with the dow up 67 points. the silicon valley index is lower, pressured by two attackers and google. meanwhile, a new product may be on the way from apple. apple's online store has been down for a while this morning. leading to speculation on gizmoto that apple may unveil new products related to the apple tv. watch out for development. we are tracking that story. you know how expensive smart phones are. they're so fragile they seem to break the first time you drop them. amazon hopes to solve that. they say the chief executive to apply as a patent to use air bag that will deploy if the phone is dropped. other ideas are

karen travers has the latest. >> president obama heads to the home state of illinois today, hoping to leave republican attack behind him. >> mr. obama and texas governor rick perry played campaign trail cat and mouse. at one point, the bus tour came within seven miles of each other. >> we got competing job tours. >> perry has only been in the race a few days but he zeroed in on the key issue. >> how many jobs are you going to create? >> as many as i can. >> the shoot from the hip texan kept up attacks on the president. >> one in six job-ready americans don't have a job. that is not a recovery, mr. president. that's an economic disaster. [ applause ] [ applause ] >> some of his comments raised eyebrows, even among republicans. for now, mr. obama said he will cut him some slack. >> i think everybody who runs for president it takes them a little time before they real iezize this isn't like running for governor or senator. >> even with perry literally breathing down his neck president obama tried to look past the republican contenders. instead, blaming republicans in washington for partis

i'm karen travers. i have that story coming up. >> potential new use for tylenol. how it could provide release from emotional distress. join the revolution against scrubbing on your hands and knees. use new resolve easy clean to deep clean your carpets. it removes three times more dirt than vacuuming alone. just three easy steps for beautifully clean carpets. don't just vacuum clean. resolve clean. detergent alone doesn't fully dry your dishes. it leaves spots and residue behind. add finish jet-dry and they dry two times better. and they're shiny. that is shiny. >>> welcome back. a look at the high temperatures across country. over 100 in phoenix and dallas. 80s and 90s. 81 in boston today. 88 in d.c. 94 in salt lake city. 81 in portland. 74 in seattle. we have flight departure delays out of laguardia. otherwise, all the major airports are running on time. flight tracker, anytime you need it. abc7news.com. eric? >> mike, thank you very much. >>> 4:48 now. overseas markets are mixed this morning following yesterday's 77-point drop on wall street. asian markets didn'

karen travers, abc news, washington. >>> 5:49. time for a look at the weather. >> it's great looking. take a look outside and you can see how low the clouds are, hanging around and push in the east bay valley. looking for volmer peak to mount diablo. so far, as we come up on 5:50, sfo has not mentioned flight arrival delays but they usually do in the next ten minutes. stay here and i'll let you know. look at the temperatures. uniform under the cloud deck from the low 50s in san rafael, santa rosa. clouds are last to arrive. 60 in mountain view and antioch. we have had clouds for better part of the night and in the salinas valley. mid-50s there. gilroy, not as many clouds and cooler. 49 degrees. look for sunshine, especially away from the coast this afternoon. the temperatures are close to average. we'll see fluctuations in temperatures and cloud cover the next couple of days before more clouds and stronger sea breeze the brings cooler weather to the weekend forecast. one degree cooler in concord and san jose. spot on in sacramento

karen travers, abc news, washington. >>> the turmoil on wall street cost the california public employees retirement system $18 billion. the value of calpers stock portfolio lost 7.6% since july 1 but made back some of the losses in yesterday's rebound. calpers is the nation's largest public pension fund. they see the stock market decline as a chance to hunt for stocks at bargain prices. >>> 4:35 now. the san jose city council voted to keep paying city employees indefinitely when they are called up at the military reservist. media partner, the "san jose mercury news" reports recent audit recommended a time cap on how long the city would subsidize a tour of duty for city reservists. they recommended restricting employee to five-year subsidized leave. yesterday, the city council voted unanimously to extend the military leave program indefinitely without any limit on how long soldiers can be away from their city jobs and still get the equivalent of the full city salaries. >>> the redwood city fire department is asking property owners to check the water, sprinkler and the pipe system every da

karen travers, abc news, washington. >>> 6:46. new global pressure on the u.s. stocks this morning. >> we'll check in now with the bloomberg reporter kali carlin from the new york stock exchange. good morning. >> good morning. for perspective, we had the biggest three-day rally since 2009 but that is not continuing this morning. we got a report showing that the europe economic growth asked for decline more than thought. hewlett-packard and boeing on there now. but they say the united states triple-a rating, that we have the rating and it has stocks off the lows. the outlook on the long-term rating for the u.s. credit is stable. i want to mention the silicon valley index is lower now. in time for the back-to-school season, target is offering a store credit at 1,500 locations. plus, they are adding the calculators, dvd, ipad, ipod, video games. they are evaluated on site. the service is available online at networth.com. live at the new york stock exchange, bloom business news. >> thank you. have a great day. >>> i am not going to say thank you because it may come

karen travers picks up the story. >> all eyes are on wall street today. if the asian markets are an indicator of what is to come, we may be in for a wild ride. markets in hong kong, korea dropped sharply but analysts say it could have been worse. >> i think the reaction in asia has been much better than expected. it's muted. >> across the globe, investors are concerned not just because of the u.s. credit downgrade but the general economic slowdown in u.s. and across europe. in the u.s., the obama administration continued to hammer s&p for the credit downgrade. >> s&p has shown terrible judgment. they handled themselves poorly and shown stunning lack of knowledge. >> s&p officials continue to fiercely defend their decision. >> our job is to hope -- [inaudible ] >> the credit agency warned the u.s. could drop another level if debt crisis isn't fixed if two years. >> what should the average investor do? analysts say don't panic. >> you have a 401(k) and you may hold your breath until monday but you should exhale. over the long term, this is a bump in the roa