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 […]
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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 […]
Posted inHealthcare
Trump says new coronavirus ‘guidelines’ will address potential changes to social distancing rules
By Brooke Singman, Matt Leach | Fox News President Trump on Thursday said the administration is working to publish new guidelines that will advise governors in states across the nation on potential changes to social distancing, based on whether certain counties are low, medium or high risk for the novel coronavirus. In a letter from the president to “America’s Governors,” Trump […]
Posted inEconomy
Dow soars 1,300 points after $2T coronavirus aid deal
By Jonathan Garber FOXBusiness U.S. equity markets gained Wednesday after lawmakers struck a deal on a $2 trillion relief measure to provide aid to those most severely impacted by the COVID-19 pandemic. The historic package will “rush new resources onto the front lines of our nation’s health care fight, Senate Majority Leader Mitch McConnell, R-Ky., said Wednesday. “And it will inject trillions of dollars […]
Posted inEconomy
Dow posts 2,112 point gain biggest ever
By Jonathan Garber FOXBusiness U.S. equity markets registered the strongest one-day rebound in history on Tuesday amid investor optimism that members of Congress will overcome their differences to reach a deal on a nearly $2 trillion COVID-19 stimulus package. In the final hour of trading, gains picked up steam giving the Dow Jones Industrial Average a 2,112 point gain, the biggest ever, or 11 percent, while […]
Posted inCongress
Pelosi’s coronavirus stimulus includes return of ‘Obamaphones,’ other unrelated items, GOP says
By Gregg Re | Fox News House Speaker Nancy Pelosi introduced her own emergency coronavirus stimulus bill on Monday, leading furious Republicans to argue that much of the proposal contained a progressive wishlist seemingly unrelated to the crisis — including several provisions that amount to a resurrection of the notorious “Obamaphone” program, GOP officials said. The bill proposed by Pelosi, D-Calif., additionally seeks […]
Posted inEconomy
Stocks fall as coronavirus bill fails second vote
By Jonathan Garber FOXBusiness The Fed will buy Treasury and mortgage-backed securities in ‘amounts needed to support’ the economy. U.S. equity markets remained under pressure Monday after the coronavirus relief bill faced more opposition from Democrats on Capitol Hill. The lack of progress outweighed another move by the Federal Reserve which announced “extensive new measures” to support the […]
