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by Tyler Durden Tuesday, Jun 01, 2021 - 07:54 AM It turns out that Monday's dip in futures was a low-volume headfake, and on Tuesday global markets hit a new record high as U.S. equity futures jumped, with spoos also approaching all time highs after markets shrugged off concerns about rising inflation and looked ahead to U.S. employment data later in the week. Brent rose above $70 to the highest since October 2018 as OPEC+ forecast a tightening global market before members meet to discuss production output today. At 715am, Emini futs were 4,226 up 24 points ot 0.58%; Dow futs were up 212 to 0.61% while Nasdaq futs rose 52 pts, up 0.38%.
so what -- what people may not know in the house we use macro economic scoring, we call it dynamic scoring, we take into account economic effects of tax changes and we use a realistic baseline that reflects current policy, our counter policy proposals, what that means is we can have a big tax cut but also make sure that we are in compliance with our deficit targets, our deficit rules. maria: do you need to find revenue somewhere else? >> of course, of course. the answer is yes to that. the point -- that's right. but the point i'm making is with all the tools we have to make sure that when we revenue estimate our tax reform bills, we take into consideration economic reform rates and that helps a great deal. maria: you're expecting 3% growth? >> i don't think we can get to 3% growth without tax reform. it's a goal we can achieve in this country, regulatory relief, working on labor supply, you know, welfare to work but tax reform.
rejecting an expansion of the european bailout fund in a first of two votes. they are the last of 17 eu nations that has to improve it. it is expected to pass on the second vote. meanwhile, eurozone inspectors gave tepid approval for another round of aid for greece in november, despite the fact that it has already missed strict deficit targets. and alcoa here in the united states kicking off the earnings season with solid revenue, but weaker than expected profits. shares are moving lower in after-hours trade. dollar says it will continue on as a stand-alone firm. that's it from cnbc. we're first in business worldwide. now back over to "hardball." today the senate of the united states has a chance to do
stocks kicking off a new quarter with a big sell-off. the dow jones industrials plunging 258 points. the s&p 500 tumbled 32. and the nasdaq taking the biggest hit, down 79 points. greece is admitting that it will miss deficit targets despite harsh new austerity measures, bringing it closer to default. that news overshadowed an uptick in solid manufacturing in september that led to more production and more hiring. and construction spending rebounded in august as outlays kicked in. in stocks, chipmakers took a beating on a report showing a soaring demand for tablet pcs being offset by slowing demand in other areas. american airline's parent company amr shares were halted several times amidst rumors that it could be heading for bankruptcy. and an airline trade group said the entire industry could be headed for a downturn. that's it from cnbc, first in business worldwide. now back to "hardball."
mechanism would create cuts and revenue raisers the hope would be that never gets triggered. through the normal process you're able to achieve the deficit reduction you want to. it would be an assurance that you would still hit your deficit targets. >> that revenue raiser a payroll tax, an extension of the payroll tax? are you talking about yet another kind of revenue tax increase? >> again, the democratic position is that a balanced approach to deficit reduction has to include cuts, yes, but we should also be look at closing the corporate loopholes, the tax ear marx like subsidies for oil and gas, tax breaks for corporate jets. there's a lot of spending done through the tax code. we need a look at both those pieces if we're going to have a balanced approach. the whole question of payroll tax is really a separate issue. it could become related. it's a proposal the president has floated as you know to
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