By Brooke Singman | Fox News Republicans on the House Oversight Committee are calling for a hearing to review the “modeling platforms” used to project the extent and impact of the coronavirus pandemic, claiming they exhibit “conflicting data” and have led to policies “placing extraordinary burdens” on Americans. Rep. Chip Roy, R-Texas, and other lawmakers penned a letter to House Oversight Committee Chairwoman […]
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Posted inEconomy
Stocks surge as Fed rolls out $2.3T lending program
By Jonathan Garber FOXBusiness U.S. equity markets rallied Thursday after the Federal Reserve’s plan to provide $2.3 trillion in lending to households and businesses overshadowed a surge in jobless claims. The Fed’s initiative undergirds government efforts to combat fallout from the economic shutdown imposed to curb the spread of the COVID-19 pandemic. Traders were also awaiting the outcome of a virtual meeting […]
Posted inEconomy
Stocks rally amid signs coronavirus is plateauing
By Jonathan Garber FOXBusiness The S&P 500 is fighting to exit its bear market. Tech remains reliable in volatile stock market. U.S. equity markets rallied Wednesday amid optimism that hospitalizations related to the COVID-19 pandemic are beginning to plateau in some of the hardest-hit areas of the country. The Dow Jones Industrial Average climbed 257 points, or 1.14 percent, in the opening […]
Posted inEconomy
Dow pops over 1,600 points on coronavirus slowdown, new stimulus hopes
By Jonathan Garber FOXBusiness U.S. equity markets soared late Monday on chatter that a new round of fiscal stimulus valued at $1.5 trillion could come by mid-May, as reported by FOX Business’ Charlie Gasparino. The report fueled a late-day surge that added to the strong gains that developed early in the session after new data showed COVID-19 could be slowing in […]
Posted inHealthcare
WHO director faces calls for resignation over handling of coronavirus, China
By Tyler Olson | Fox News Amid persistent criticism that his organization failed to properly oversee China’s coronavirus response and worked to downplay the communist nation’s responsibility for the pandemic, World Health Organization Director-General Tedros Adhanom Ghebreyesus is facing growing calls for his resignation from American politicians and others around the world. Calls have been led by Sen. […]
Posted inEconomy
Stocks tumble as unemployment spikes on coronavirus layoffs
By Jonathan Garber FOXBusiness U.S. economy lost 701K jobs in March, the unemployment rate jumped to 4.4% U.S. equity markets tumbled on Friday after a dismal March jobs report showing the COVID-19 pandemic hit the U.S. economy harder than expected. For the week stocks fell across the board as the number of coronavirus cases rose to 1,076,017 confirmed cases globally. The Dow Jones […]
Posted inNational News
Pelosi pushes ‘SALT shakeup’ stimulus that could reduce her tax bill and enrich her wealthy district
By Gregg Re | Fox News House Speaker Nancy Pelosi, D-Calif., is pushing for a new stimulus bill that would roll back the state and local tax deduction (SALT) cap, a proposal that would predominantly help wealthy individuals — including most residents in Pelosi’s district and perhaps even Pelosi herself. A 2019 report from the Joint Committee on Taxation projected that of those who would face lower […]
Posted inNational News
New York Mayor’s Threat Against Congregations Prompts Outpouring of Condemnation from Civil Liberties Defenders
BY Mark Tapscott New York City Mayor Bill de Blasio stepped on a bipartisan political landmine Sunday when he threatened to close permanently religious congregations hosting worship and other gatherings in defiance of social distancing orders. “The American people are patient and will tolerate temporary impositions on their freedoms if it means they can demonstrate love for their neighbor. But, […]
Posted inEconomy
Dow rallies after best week since 1938
By Jonathan Garber FOXBusiness U.S. equity markets gained Monday morning as traders digested the news that social distancing guidelines were extended until at least April 30. The Dow Jones Industrial Average climbed by as many as 533 points, or 2.5 percent. The S&P 500 and Nasdaq Composite were up as much as 1.8 and 2.9 percent, respectively. Last week, the Dow gained […]
Posted inEconomy
Oil plunges after Saudi Arabia, Russia talks stall
By Jonathan Garber FOXBusiness Oil prices tumbled Friday after Saudi Arabia said it hasn’t recently held talks with Russia to end a price war that began earlier this month. Brent crude oil, the international benchmark, plunged by 6 percent to $24.77 a barrel while West Texas Intermediate crude oil, the U.S. benchmark, slid 4.9 percent to $21.50. […]
Posted inEconomy
Stocks trim losses after House approves $2T coronavirus aid package
By Jonathan Garber FOXBusiness U.S. equity markets ticked to session highs Friday afternoon after the House of Representatives passed the $2 trillion relief bill that extends aid to individuals, small businesses and corporations hit hardest by the COVID-19 pandemic. The legislation now heads to President Trump for his signature of approval. The Dow Jones Industrial Average traded lower by 500 points, or […]
Posted inCongress
Extreme precautions ordered in House ahead of stimulus vote, as concerns mount of ‘rogue’ member delaying vote
By Gregg Re, Chad Pergram, Marisa Schultz | Fox News A “State of the Union”-style extreme security posture will be in effect on Capitol Hill on Friday, as the House of Representatives is set to vote on the $2 trillion coronavirus stimulus package, Fox News has learned — and there are new concerns that one member may “go rogue” and possibly scuttle […]
