Polly middlehurst. Michelle, thank you. Good evening to you. Well, the top story tonight on gb news is that teachers are no longer on strike. All four teaching unions in england have accepted a 6. 5 pay in england have accepted a 6. 5 pay rise, meaning all industrial action has been called off. Now it comes after Union Members staged eight days of strike action in state schools since february in their dispute over pay february in their dispute over pay the education secretary, Gillian Keegan welcomed the decision and explain where the money for the pay rise was coming from within the School Budgets with the 2 billion extra that we already got when i was very first in the job at the end of october last year, there was a 3. 5 that schools had budgeted for a pay increase for teachers within that, obviously the strb came back at 6. 5. So the extra 3 is being funded by the department for education. Education. The Prime Minister says the planned expansion of oil and gas drilling in the north
Yesterday, but again we were talking about Massive Gains not just through the month of july but year to date as well well continue to keep an eye on this if youre watching treasury yields, this is where you would anticipate seeing moves if there were a downgrade if people were afraid of rushing into this. But it turns out u. S. Treasuries are still a safe haven and why the yields are still a bit lower. The 2year note trading at 4. 86 . Of course, all that related to what were seeing. Talk about the downgrade because it is our top story. Theyre citing what theyre calling an erosion of governance Emily Wilkins joining us now good morning to you. Good morning, andrew. Yes, shocking news yesterday at least for some of those in the Biden Administration seeing that downgrade in the u. S. Credit ratings from a aaa to a aplus this is only the second time the u. S. Credit rating has been downgraded like this treasury secretary janet yellen is quickly depending the Biden Administration she says
evening. now it s time to last word with jonathan kaye pot in for lawrence. good evening, jonathan. good evening, alex. quite the day we ve had today. i know you re gonna have a great show analyzing what went. down yes, we will. alex, thank you very much. have a great show. this is not a normal court. that was what president biden said after the radical conservatives on the supreme court, for the second time in two years, reversed nearly 50 years of precedent on an issue that has significantly helped improve the lives of americans. last year it was undoing protections for women to make decisions about their own reproductive health. today it s undoing the consideration of race in college admissions, which has let helped level educational opportunities for minority students, like me. 30 years or so ago. it is a court that is looking to move the country backwards. as president biden told msnbc s nicole wallace earlier today. it s done more to unravel basic rights and
court, for the second time in two years, reversed nearly 50 years of precedent on an issue that has significantly helped improve the lives of americans. last year it was undoing protections for women to make decisions about their own reproductive health. today it s undoing the consideration of race in college admissions, which has let helped level educational opportunities for minority students, like me. 30 years or so ago. it is a court that is looking to move the country backwards. as president biden told msnbc s nicole wallace earlier today. it s done more to unravel basic rights and basic decisions than any court in recent history. and that s what i meant by not normal. i find it just so out of sorts with the basic value system of the american people. and i think across the board the vast majority of the american people don t agree with a lot of the decisions this court is making. he s right. it s not just of the radical conservative supreme court is undoing decades o
Isnt lost. It may be found. What do we think about where we might go . I think were still stuck in a range, were battling with the emotions of feeling better, seeing corporate earnings do better than we expect. Were seeing goldman say things like, hey, were decreasing the chance of a recession. Then were fighting the math on it. I dont see how the multiple on the s p gets above 20 times. With that you have a heavy cap on the market. Were stuck in this range and it might take time to get out of it. Investors are impatient. Theres so much we still need to digest. Were digesting 18 months of rate hikes, the fed reducing their balance sheet, the inflation reduction act, unemployment levels that are changing, inventories. Everything is distorted. We want it to happen all at once, get back to high growth but its important to do that. I think were stuck. Joe, are we stuck . I think it rallied from the 4 low. Youve built in a cushion. I think jenny is on to something. Weve priced in the fact t