Economy. Contrasting fortunes. Jp morgan cuts its fullyear forecast. Goldman sachs revenue bucks wall street trend. Shery later in Bloomberg Technology global link, we will be talking about the showdowns in washington facing Silicon Valley. Lets get a quick check of how the markets closed in the u. S. Regulatory scrutiny in congress being felt across the market as tech stocks underperformed in todays session with the s p 500 now holding the fiveday rally. We had President Trumps comments on tariffs dampening sentiments as well. Tech giants took a hit. We had Energy Producers leading some of those declines as we continue to see the selloff in oil markets. We had u. S. Bank earnings. They little bit mixed. Goldman sachs managed to jump after beating the unit. We had some strong data out of the u. S. When it came to retail sales. That sent yields higher but at the same time, chair powell speaking in france about taking appropriate measures to deal with the economy. That led to the yield l
To asia fx today. 68823 as we speak. Lets show what we are watching when it comes across assets. The u. S. Tenure after powells talk in paris. It did not change much. The rate cut in july is a done deal. We are seeing this gradual trend where yields are rising back a slightly here once again. U. S. Futures not doing a lot. The singapore dollar, that will be an interesting one to watch given that terrible picture we saw out of trade and exports from singapore. We mentioned how bad it was. Mostly driven by those electronic exports which saw more than 30 drop for the month. We are watching the pound as well. 124 here. It was pretty quiet yesterday. We saw the biggest fall and lowest in 27 months now. It seems like the market is now contending with this new government. How are they going to deal with these brexit situations now with the eu . It looks like further pain to the pound. David 12351 is your next low to watch. Argument to make an for the dollar to fall if these things keep happen
So ive been working with the department of the environment through a grant that they have to procure tax Hydrogen Powered taxi cabs and im trying to get the Fire Department on to that grant so we would at least get one vehicle from there. Actually im meeting with them next week so ill have more updated information. Ok. I think that this is an area that the commission might be able to help you with. Yes, sir. Particularly with toyota. I think it is a great opportunity for collaboration in terms of their product in this department. Im almost complete. Id like to picture at the end in terms of photo in front of bureau of equipment with staff. I never saw a tow truck before so it helps us to be able to see there. I particularly like the tow truck and its size. I really love the emblem on the side of this tow truck. The Police Commission talked a lot about turnout coves. There was some discussion on the Commission Level that we needed a [inaudible] and perhaps the commission needs the adopt
Who have been to previous presentations but for californians. For decades and decades, weve come to expect the unexpected as it regards to the volatility of the tax system. You can see the orange line, those are the big three revenues. It. Looks like an ekg chart. It goes up during good times and down during bad times. It reflects i think the larger narrative of todays presentation and that is a story of correction, a story of normalization after a period of tremendous amounts of distortion. That distortion has been represented in the revenue collection in this state. Take a look at this chart. 10. 4 , that is the year 2000. We have had spikes in the past and revenue. 10. 4 , thats the percentage of our income tax collection Capital Gains. 11. 6 , historically high number represented in 2021. Now a drop. We look at the projections going out to about 5 . Those are remarkable swings in terms of that revenue collection as it relates to Capital Gains on the overall revenue. That said, the
Park pedestrian overpass. Its not hurt us. Please. Hey. Please see, like on my friend kira says this is video of that crime. They say the man you see here tore down two banners, put up by two volunteers with the Northern California Islamic Council calling for peace in gaza. Then he tried to throw it on the freeway. Someones gonna get injured by doing that to support hamas. Do you know that. Do yous kill more kids in israel . Care also claims the man grabbed one of the two demonstrators backpack and threw it on to 101, then did the same with their hat and later with a pair of their sunglasses. Thats not okay. We are very concerned that these incidents are continuing and in some cases, escalating for cairs bay area office. She says its the third incident like this in the bay area since the israel hamas war began. Its important that chp and other local Law Enforcement investigate and move quickly. That is, in fact, how our community will feel safer. The chp confirms that it responded and