Higher. Up by a quarter percent. The cac down by half a percent the ftse down slightly. After the friday night release of the European Bank stress tests, they were not nearly as stressful as some thought they should be. But you did see a lot of concerning things that came out of it. You can see unicredit is down by 7. 5 . Well find out how much it could impact the u. S. Markets in a few minutes. Lets check out crude oil prices because each though crude was up on friday, if you looked at last week, it was still down by over 2. 50. Oil sitting right around 41. 60. This morning, wti under additional pressure. That september contract right now is trading just above the 41 mark at 41. 07. Brent crude at 42. 93. It may be august, but things arent slowing down. Earnings and important Economic Data, all this as the dow starts the month on a sixmonth win streak. Today, we get the july ism Manufacturing Index. Tomorrow, june personal income and spending and your auto sales numbers. Wednesday it
The debt ceiling and budget, can their winning streak continue . And the real read on the American Housing market. One area that is on fire now and fueling growth for Home Builders. The Third Quarter reporting season is just getting under way. There are already fears about earnings in the current or fourth quarter. Bob pisani on the floor, what is fueling the concerns, bob . Revenues. And youre right. Were in the middle of q3 earnings season. The professional community is already concentrating on q4 and the guidance. And the guidance is a little bit troubling. Its two of the banks were okay. Ge was okay. Let me put up companies that indicated. The guidance is going to be tough or conservative guidance for the fourth quarter. Its not just one sector. We see mively cron talking abou issues. In the agriculture business, monsanto a week and a half ago talked about issues. The china consumer has been clearly impacting earning thats we heard a week and a half ago from young and wing ka seen
Seat, despite the fact wert a jju investments in infrastructure create jobs now and make us stronger in the future. This committee has not held a hearing on this topic in the last four pd discussions with the chairman, we can Reach Agreement quickly on Holding Hearings on the financing of major infrastructure legislation as discussed. Tax reform as you say must be a central focus of this committee. Democrats believe that reforming the tax code should not be centered on right cuts at the; very top for the wealthiest americans and weve seen from the chart why thats true. But rather on creating ùhn taxw v code that is fair for working families promoting Economic Growth and eliminating loopholes for special interestyj n and insuring thata ÷ both individuals and share of taxes. Under any circumstances and i emphasize that mr. Chairman and colleagues, weoind learned in and we relearned more recently that tax reform to balprogress it is essential that there be serious, openn tn discussions
Of production to the best of their abilityx x focus onkrnn striping awaydtbn interferences for productivity growth. What kind of policies are wc they. Trade ii policies are a great opportunity right now. The tpp and estimates in my testimony suggest this could increase gdp by 200 billion if fully h. 4himplemented. This has been historically a spur ofifqhy trade growth. We saw a tremendous boom in trade technologies. To get that done, you do have to2onn give the president trade promotion tax reform is a great opportunity. I dont belabor the pieces that are this my written vw5 testimony but its complicated and raises almost no revenue so were in the worst of all possible places with our corporate code. The last is, i would argue that it is riddled with antigrowth features. Theres a lot of very bad tax put the need for revenue but the structure of the 4ct device tax and insurance fee are highly efficient and ought to be looked atienx q÷ xt . Carefully. The basic expansion of3where we nee
Nine from little rock, the Academy Awardwinning film about the forced desegregation of little rocks central high school. Find our entire schedule at www. Cspan. Org. Email us or send us a tweet. Join the conversation. Like us on facebook, follow us on twitter. The house ways and Means Committee recently heard testimony from three economists about the state of the u. S. Economy and strategy that can be used to spur Economic Growth. This was the first hearing held by the committee in the new congress. I would like to start off by saying what an absolute privilege it is to chair this committee. I served with many of you for quite a while, 14 years from myself. I came into this congress with a number of you. I think joe is coming. It has been an absolute pleasure serving in this committee and i just want to tell you how i feel to be in this position. We are not in the ways and means room. The ways and means room is being rewired for sound reasons because it is the alternative floor locatio