yes, this is the last hour of trading on this shortened market day and there are fireworks in the stock market a pretty good start to the second half of the year, right extraordinary we are up 200 points just a second ago all-time intraday high for the dow and all-time intraday high for the transports look at financials and energy leading the way, some of the laggards for this year and tom mcclellan will tell us later why he thinks the bull run is forar from over a new report this morning says president trump s chief strategist, steve bannon, is pushing for a tax hike for the upper income bracket we ll get you those details. you re on a roll. do you want me to pick this up tesla, yes, it s true the model 3 is on its way and the stock market was higher earlier. it s given up many of the gains here ford and general motors are powering higher after their auto sales numbers came out we ll tell you what s behind all these moves, coming up in fact, tesla says it looks like
tax policy center. i will be replacing len berman next week, but the ever efficient tax policy center is already putting me to work. first thing i d like to do today is acknowledge our online audience who are with us. i encourage all yo all of you te your thoughts and observations using #liveaturban. we ask you to e-mail events at urban.org. we will make a point to use these questions in the q&a portion of the program. i m excited to be joining the tax policy center, and i thank you all for joining us today to grapple with important issues surround our states fiscal futures. the panel will examine obstacles and opportunities governors and legislatures will face, and the decisions as they pass new budgets. that budget this year or budget process this year appears to be exceptionally challenging, given the uncertainty about what federal policy will look like in a wide range of areas. as the new administration stands up, and new policies are shaped, it s important recall many of
using #liveaturban. we welcome you to ask questions. we ll make a point to use these questions and comments in the q and a portion of the program. i m excited to be joining the tax policy center and i thank you for joining us today to grapple with important issues surrounding our state s fiscal issues. the panel the examine opportunities governors and legislators will face and the decisions they ll face as they pass new budgets. the budget this year the budget process this year appears to be exceptionally challenging given the understanding of what federal policy will look like in a wide range of areas. as the new administration stands up and new policies are shaped, it s important to recall that many programs being discussed are implemented at the state and local level. educating our children, building roads is done by state and local governments with federal funds paying for about one-third of state expenditures. the federal government effects the overall agenda. independ
we will be tuesday or wednesday of next week. that is an uncertainty the markets dislike. francine: no one likes risk in this kind of environment. october manufacturing, pmi rising that are then estimated. we will have pound and euro check shortly. let s get to the bloomberg first word news. bankersmost british really that london will remain the financial center even after the country leaves the european union. 72% of banker say london will maintain his role as the financial hub for at least five years. the eu and u.k. will be hurt by brexit. forecast is that mark carney will not change interest rates while he is governor of the bank of england. mark carney says he will stay in the job until june of 2019, one year longer than planned. will keep the benchmark unchanged while the u.k. is negotiating brexit. south korea government shakeup over a peddling scandal. the president fired her premier and finance minister. neither was directly linked to the investigation, but she appea
we have a most interesting day because we have a record low for the 10 year yield, and we have quite a lot of movement on currencies. it is very nuanced. when i was suggest is we are looking at charts from denmark, charts from new zealand, charts from south korea. it is a global new wants to day with a letter attention to it. most people are saying do not look at tech valuations, it is negative rates that are putting in boko haram yields. we will discuss that next. let s get to bloomberg first word news. ramy: israel is cracking down on palestinians of during the first major attack. they opened fire in an tel aviv shopping district killing for his release. in response israel has revoke permits for palestinians to visit israel and travel abroad during robin done. those who want to u.k. to stay in the european union warned that it breaks it could cost jobs. some companies have already frozen hiring in u.k. while others are using short-term contracts to fill jobs. meanwhile the