Editorial Roundup: United States
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Donald Trump nominates Pete Hegseth, Elon Musk, and Vivek Ramaswamy for his administration; Trump projected as President-elect with 72,312,911 votes against 75,449,964 for his opponent; National Election results show 214 House seats up for election; Vice President Kamala Harris criticized for defending Biden's integrity amid investigation; Biden's mishandling of classified material leads to calls for him not to seek a second term; Trump’s victory impacts Middle East dynamics, particularly regarding Iran and Israel; Abortion rights measures succeed in several states, with significant victories in Arizona and Missouri; Democrats urged to reassess their approach post-election; Trump's tariff policies raise concerns among global leaders; Editorials reflect on the implications of Trump's win for domestic and international policies.

#Trump #Election #Biden #Harris #Abortion #MiddleEast #Tariffs #Democrats #Republicans #Editorial

https://abcnews.go.com/US/wireStory/editorial-roundup-united-states-115796057


Stock market today: Asian stocks decline as China stimulus plan disappoints markets
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Asian stocks fell on November 11, 2024, led by a 2.2% drop in Hong Kong's Hang Seng index, as China's 6 trillion yuan ($839 billion) stimulus package failed to meet investor expectations. The stimulus aims to help local governments refinance debt rather than jump-start economic growth, according to Stephen Innes of SPI Asset Management. China's inflation rate rose 0.3% year-on-year in October, down from 0.4% in September. The Hang Seng closed at 20,270.77, while the Shanghai Composite lost 0.4% to 3,437.90. Japan's Nikkei 225 slipped 0.4%, Australia's S&P/ASX 200 dipped 0.5%, and South Korea's Kospi fell 1%. U.S. futures were higher, with the S&P 500 rising 0.4% to 5,995.54 on November 8, 2024, marking its biggest weekly gain since early November 2023. Treasury yields eased, and consumer sentiment rose for the fourth consecutive month. The yield on the 10-year Treasury slipped to 4.30%.

#StockMarket #China #Stimulus #Inflation #HongKong #Economy #Trump #UsFutures #TreasuryYields #ConsumerSentiment

https://abcnews.go.com/US/wireStory/stock-market-today-asian-stocks-decline-china-stimulus-115721922


Fed chair says Trump can't remove him. Could Trump still influence interest rates?
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Jerome Powell, chairman of the Federal Reserve, stated he would not resign if asked by President-elect Donald Trump, asserting that Trump cannot legally remove him. Trump allies, including Sen. Mike Lee and Elon Musk, expressed support for Trump's potential influence over the Fed. Experts noted that while Trump could attempt to challenge Powell's position, legal ambiguities exist regarding the grounds for removal. Trump could also push Congress to amend the Federal Reserve Act to weaken its independence. However, experts doubt Trump's ability to significantly influence interest rates in the short term, as any removal attempt would likely face legal challenges and market backlash. Powell's term expires in 2026, allowing Trump to appoint a new chair then. The independence of the Fed is crucial for maintaining stable inflation and employment.

#FederalReserve #DonaldTrump #JeromePowell #InterestRates #Economy #Politics #2024Election #FinancialStability #Congress #MarketImpact

https://abcnews.go.com/Business/fed-chair-trump-remove-trump-influence-interest-rates/story?id=115636961


By the numbers: Where the economy stands on Election Day
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Consumer prices rose 2.4% in September 2024 compared to a year ago; inflation peaked at about 9% in 2022; nationwide average gas price is $3.10, a 9% decline from last year; U.S. economy grew at 2.8% annualized rate over three months ending September 2024; 10 consecutive quarters of economic growth; 254,000 jobs added in September 2024; unemployment rate at 4.1%; average 30-year fixed mortgage rate is 6.72%, up from 6.08% in September; 52% of voters consider the economy extremely important for presidential choice; Kamala Harris and Donald Trump are key candidates.

#Economy #Election #Inflation #Jobs #GasPrices #MortgageRates #Voting #2024 #UsBureauOfLaborStatistics #GallupPoll

https://abcnews.go.com/Business/numbers-economy-stands-election-day/story?id=115512409


Election Day 2024 live results: The 7 swing states have yet to be projected
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Polls closed on November 5, 2024; first results show Kamala Harris and Donald Trump in a tight race; 538 forecasts both candidates have equal chances; New York projected for Harris with 28 electoral votes; Sarah McBride becomes first openly transgender person elected to Congress; abortion is a top issue for voters, especially women under 30; Harris leads Trump 52% to 28% on abortion trust; Alabama's 2nd District shows Democrat Figures leading with 62%; Wisconsin reports 20% of votes with Harris at 51% and Trump at 47%; Tammy Baldwin leads Senate race in Wisconsin with 55%; New York's Senate race projected for Kirsten Gillibrand.

#Election2024 #KamalaHarris #DonaldTrump #SwingStates #Abortion #Polling #Congress #LiveResults #SenateRace #HouseRace

https://abcnews.go.com/538/live-updates/election-results-2024/?id=115468646


Election security updates: FBI 'aware' of fake news clip urging people not to vote
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FBI acknowledges awareness of a fake news clip discouraging voting; heightened security measures implemented at polling places across the U.S.; 24-year-old man assaulted an election judge while waiting to vote on November 5, 2024; ABC News tracking election security developments amidst misinformation concerns.

#ElectionSecurity #Misinformation #Fbi #Voting #2024Elections #PollingPlaces #Assault #FakeNews #Usa #Courtroom

https://abcnews.go.com/Politics/live-updates/election-safety-2024/?id=115455767


Here's how presidential election recounts work in the battleground states
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Recent presidential recounts have not changed the winner in battleground states; polling shows narrow margins between Vice President Kamala Harris and former President Donald Trump; automatic recounts may be triggered if vote margins are thin; recount requests depend on state rules; concerns raised about election certification and rogue officials rejecting voter will.

#Election #Recount #KamalaHarris #DonaldTrump #BattlegroundStates #Polling #VoterRights #ElectionCertification #2024Election #AutomaticRecount

https://abcnews.go.com/Politics/presidential-election-recounts-work-battleground-states/story?id=114992480


Boeing workers agree to new contract offer, concluding strike
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Boeing machinists voted 59% in favor of a new contract; the strike lasted seven weeks; the contract includes a 35% raise over four years and a $7,000 bonus; Boeing CEO Kelly Ortberg emphasized teamwork and moving forward; the vote took place on November 4, 2024.

#Boeing #Strike #Contract #Machinists #Union #Raise #Bonus #KellyOrtberg #Vote #Labor

https://abcnews.go.com/Business/boeing-workers-vote-new-contract-end-strike/story?id=115462308


Stock market today: Asian shares are mostly higher as China begins major economic meeting
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Asian shares are mostly higher on November 4, 2024; China's leaders begin a major economic meeting expected to provide new support for the economy; Oil prices increased by more than $1 a barrel due to OPEC+ extending production cuts until the end of the year.

#StockMarket #Asia #China #EconomicMeeting #Opec+ #OilPrices #November2024

https://abcnews.go.com/US/wireStory/stock-market-today-asian-shares-higher-china-begins-115456665


House Speaker Johnson says GOP may try to repeal CHIPS Act, then walks it back
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House Speaker Mike Johnson suggested at a New York rally on November 1, 2024, that Republicans 'probably will' attempt to repeal the CHIPS Act, which promotes U.S. semiconductor production; he later clarified his statement, expressing a desire to 'streamline' the legislation instead.

#MikeJohnson #ChipsAct #Republicans #Semiconductors #Legislation #2024Election #NewYorkRally #Politics #Clarification #Streamline

https://abcnews.go.com/Politics/wireStory/house-speaker-johnson-gop-repeal-chips-act-walks-115416774


Average rate on a 30-year mortgage in the US rises for fifth straight week
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The average rate on a 30-year mortgage in the U.S. rose to 6.72% from 6.54% for the fifth consecutive week, marking the highest level since early August; this increase is down from 7.76% a year ago according to Freddie Mac; reported on October 31, 2024.

#Mortgage #InterestRates #FreddieMac #RealEstate #Finance #UsEconomy #HousingMarket #October2024

https://abcnews.go.com/Business/wireStory/average-rate-30-year-mortgage-us-rises-straight-115357576


Stock market today: Asia shares decline as investors await earnings, US elections and economic data
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Asian shares mostly declined on October 31, 2024; uncertainty ahead of the US presidential election on November 5; Japan's Nikkei 225 fell 0.5% to 39,069.20; Australia's S&P/ASX 200 decreased 0.3% to 8,153.20; Hong Kong's Hang Seng rose 0.3% to 20,433.83; Shanghai Composite dropped 0.3% to 3,258.04; 538 forecast indicates Trump gains, race still a toss-up.

#Asia #StockMarket #Elections #EconomicData #Nikkei #S&p/asx #HangSeng #ShanghaiComposite #Investors #Uncertainty

https://abcnews.go.com/US/wireStory/stock-market-today-asia-shares-decline-investors-await-115337964


UN General Assembly condemns the US economic embargo of Cuba for a 32nd year
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The U.N. General Assembly voted 187-2 to condemn the US economic embargo of Cuba on October 30, 2024; this marks the 32nd consecutive year of such condemnation; Cuba's foreign minister criticized the Biden administration and expressed hope for change with a new US president; the vote tied the record for support first reached in 2019 and again in 2023; only the US and Israel opposed the resolution, with one abstention.

#UnGeneralAssembly #Cuba #UsEmbargo #BidenAdministration #InternationalRelations #Vote #ForeignPolicy #CubanForeignMinister #Israel #Resolution

https://abcnews.go.com/US/wireStory/general-assembly-condemns-us-economic-embargo-cuba-32nd-115323747


Elon Musk says Trump's economic plans could cause 'temporary hardship'
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Elon Musk, the world's richest person, supports Donald Trump; Musk warns that Trump's economic plans may lead to 'temporary hardship'; Philadelphia DA sues Musk over $1 million voter giveaway; Musk is a significant donor and speaker in Trump's presidential campaign; 538 forecasts indicate Trump gains, but the race remains a toss-up; Various incidents reported: woman dies from backing into a plane propeller on Oct 28, man arrested for allegedly punching a poll worker on Oct 26, and ballot boxes set on fire in two states on Oct 30.

#ElonMusk #DonaldTrump #Economy #Politics #VoterGiveaway #Philadelphia #Lawsuit #2024Election #Polls #Campaign

https://abcnews.go.com/US/elon-musk-trumps-economic-plans-cause-temporary-hardship/story?id=115316405


US economy is believed to have grown at a solid pace again last quarter
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The U.S. economy likely expanded at a 2.6% annual pace from July to September 2024; this growth is attributed to consumer spending despite high interest rates; the Commerce Department will report these findings on November 1, 2024; growth is expected to be lower than the previous quarter's rate.

#UsEconomy #Gdp #ConsumerSpending #InterestRates #EconomicGrowth #CommerceDepartment #2024 #Forecasts #PaulWiseman #AbcNews

https://abcnews.go.com/Business/wireStory/us-economy-believed-grown-solid-pace-quarter-115291075


China has deported a VW executive for allegedly using drugs while in Thailand
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A senior Volkswagen executive in China, identified as Jochen Sengpiehl, was deported after allegedly using cocaine and marijuana during a vacation in Thailand. He was detained for 10 days from October 10 to 20, 2024, following an investigation that confirmed drug use on October 5. Drug use in China is an administrative offense punishable by detention and fines. Volkswagen declined to comment on the incident due to labor and data protection laws. China is a significant market for Volkswagen, facing competition from local electric vehicle manufacturers.

#Volkswagen #China #Thailand #DrugUse #Deportation #Executive #Cocaine #Marijuana #AdministrativePenalty #ElectricVehicles

https://abcnews.go.com/International/wireStory/china-deported-vw-executive-allegedly-drugs-thailand-115057344


Yellen says isolationism 'made America and the world worse off' in speech to global finance leaders
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Treasury Secretary Janet Yellen addressed global finance leaders on October 22, 2024, stating that the U.S. economy has strengthened due to the Biden administration's rejection of isolationism, implicitly criticizing former President Donald Trump's policies. She highlighted a historic labor market recovery and noted that U.S. economic growth has been nearly double that of other advanced economies in the past two years. Yellen's remarks come two weeks before the U.S. election, where economic issues are pivotal. She emphasized the importance of global economic leadership and cooperation, contrasting with Trump's isolationist stance and proposed tariffs. The IMF is set to release updated statistics on U.S. economic growth following her speech.

#JanetYellen #BidenAdministration #DonaldTrump #UsEconomy #Imf #WorldBank #Isolationism #Tariffs #GlobalFinance #Election

https://abcnews.go.com/US/wireStory/yellen-isolationism-made-america-world-worse-off-speech-115016727


Wealthier Americans are driving retail spending and powering US economy
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Wealthier Americans are driving retail spending due to strong gains in income, home equity, and stock market wealth; Federal Reserve research indicates a shift from pre-pandemic spending patterns; lower-income consumers are squeezed by high prices, affecting discretionary spending; inflation-adjusted consumer spending rose 3% in 2022 and 2.5% in 2023; retail sales rose 0.4% from August to September 2024; restaurant sales increased by 1%; the economy grew at an estimated 3.4% in Q3 2024; home equity for the wealthiest increased by 70% since Q1 2020; stock market wealth for the richest rose by 86%; spending for upper-income households increased by 17% since January 2018; lower-income households saw only a 7.9% increase; the share of discretionary spending for the lowest-income households fell by 2.5 percentage points; rising credit card and auto loan delinquencies indicate struggles for lower-income consumers; economists remain optimistic about future spending as inflation-adjusted incomes rise.

#Retail #Economy #Spending #Wealth #Inflation #Income #FederalReserve #ConsumerBehavior #EconomicGrowth #DiscretionarySpending

https://abcnews.go.com/US/wireStory/wealthier-americans-driving-retail-spending-powering-us-economy-114918556


Stock market today: Asian shares gain as China releases plan for market support
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Asian shares rise after China's central bank announces support plans; China's economy grew 4.6% in Q3 2024, down from 4.7% in Q2; average growth for 2024 is 4.8%, below the 5% target; central bank guidelines allow loans for stock repurchases at 2.25% interest; Shanghai Composite index up 2.1% to 3,232.14; Hong Kong's Hang Seng index up 2.2% to 20,519.78; U.S. stocks remain near record highs with S&P 500 at 5,841.47; European Central Bank cuts interest rate by 0.25%; U.S. crude oil at $70.92 per barrel.

#AsianMarkets #China #StockMarket #Economy #InterestRates #UsEconomy #Growth #Stimulus #FinancialNews #GlobalMarkets

https://abcnews.go.com/US/wireStory/stock-market-today-asian-shares-gain-china-releases-114918214


Stock market today: Asian shares climb after blockbuster US jobs report
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Asian shares advanced on October 7, 2024, following a strong U.S. jobs report that raised economic optimism; Japan's Nikkei 225 index rose 1.9% to 39,354.63; Prime Minister Shigeru Ishiba, in office since last week, aims for salary increases and economic support; U.S. employers added 254,000 jobs in September, surpassing forecasts; S&P 500 closed at 5,751.07, near its all-time high; oil prices fell with U.S. crude at $74.19 per barrel; tensions in the Middle East continue to impact markets.

#AsianShares #UsJobsReport #StockMarket #EconomicOptimism #Japan #OilPrices #S&p500 #ShigeruIshiba #Employment #MiddleEastTensions

https://abcnews.go.com/Business/wireStory/stock-market-today-asian-shares-climb-after-blockbuster-114552440


Jobs report is likely to show another month of modest but steady hiring gains
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The U.S. labor market continues to add jobs, with an expected 140,000 jobs added in September, similar to August's 142,000; economists note a slowdown in hiring momentum; the Federal Reserve raised interest rates 11 times in 2022 and 2023 but began cutting rates last month; inflation remains a concern, with prices 19% higher than February 2021; the economy grew at 3% from April to June and is projected to grow at 2.5% for July-September; layoffs are near record lows, but job openings have decreased to 8 million from a peak of 12.2 million; fewer Americans are quitting jobs, with job-hopping pay premiums declining; average hourly wages are expected to rise 0.2% in September; the Fed plans further rate cuts to support the job market.

#JobsReport #UsEconomy #LaborMarket #Inflation #FederalReserve #Employment #Wages #EconomicGrowth #JobOpenings #September2024

https://abcnews.go.com/US/wireStory/jobs-report-show-month-modest-steady-hiring-gains-114488931


Stock market today: Asian shares slip and the yen weakens against the dollar
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Asian shares mostly lower on October 3, 2024; U.S. stocks stalled as investors awaited Middle East developments; U.S. dollar gained against yen, trading at 146.51; Tokyo's Nikkei 225 index rose 2% to 38,552.06; Shigeru Ishiba chosen as new Liberal Democrat leader; Bank of Japan Gov. Kazuo Ueda indicated no further rate hikes; Hong Kong's Hang Seng dropped 1.4% to 22,124.37; oil prices rose amid concerns over Iran-Israel conflict; U.S. benchmark crude oil at $71.10 per barrel; S&P 500 gained less than 1 point to 5,709.54; Nike shares fell 6.8% despite strong profits; Tesla shares down 3.5% despite increased deliveries.

#AsianMarkets #Yen #UsStocks #OilPrices #ShigeruIshiba #BankOfJapan #Nikkei225 #HangSeng #Nike #Tesla

https://abcnews.go.com/Business/wireStory/stock-market-today-asian-shares-mixed-yen-slips-114455433


US job openings rise to 8 million as labor market remains sturdy
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U.S. job openings rose to 8 million in August 2024, up from 7.7 million in July; economists expected no change. Layoffs decreased, but job quits fell to the lowest since August 2020. Job openings peaked at 12.2 million in March 2022. Inflation decreased from 9.1% in June 2022 to 2.5% in August 2024. The Federal Reserve raised interest rates 11 times in 2022 and 2023, but cut the benchmark rate by half a percentage point last month. Hiring averaged 116,000 new jobs per month from June to August 2024; September's report is expected to show 143,000 new jobs and an unemployment rate of 4.2%.

#JobOpenings #LaborMarket #Inflation #FederalReserve #Employment #Economy #August2024 #InterestRates #Unemployment #EconomicReport

https://abcnews.go.com/Business/wireStory/us-job-openings-rise-8-million-labor-market-114385588


Fed Chair Powell says the US economy is in 'solid shape' with more rate cuts coming
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Federal Reserve Chair Jerome Powell indicated that more interest rate cuts are forthcoming, contingent on economic developments; the Fed's current interest rate is approximately 4.8%; two additional quarter-point cuts are anticipated at meetings in November and December 2024; inflation fell to 2.2% in August, while core inflation rose slightly to 2.7%; unemployment decreased to 4.2%, still above last year's low of 3.4%; hiring has slowed to an average of 116,000 jobs per month; Powell emphasized the Fed's goal is to maintain a healthy economy and job market, not to prevent a recession; the neutral rate is estimated at about 3%; differing views among Fed officials on the pace of rate cuts were noted.

#FederalReserve #InterestRates #JeromePowell #Economy #Inflation #Unemployment #JobMarket #RateCuts #Nashville #EconomicPolicy

https://abcnews.go.com/Business/wireStory/fed-chair-powell-us-economy-solid-shape-rate-114360248


A looming port strike could fuel inflation and cause layoffs, experts say
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Tens of thousands of dockworkers are set to strike as soon as Oct. 1; a port shutdown could cost the economy up to $4.5 billion daily; East and Gulf Coast ports account for over half of U.S. container imports; a prolonged strike could drive up prices and cause layoffs; 75% of U.S. imported bananas come through these ports; potential price increases may delay Federal Reserve interest rate cuts; manufacturing disruptions could lead to layoffs in related industries; the last East and Gulf Coast strike lasted seven weeks in 1977; President Biden can intervene under the 1947 Taft-Hartley Act but is currently monitoring the situation.

#Dockworkers #Strike #Inflation #Economy #Manufacturing #Biden #Tafthartley #SupplyChain #Labor #Shipping

https://abcnews.go.com/Business/looming-port-strike-fuel-inflation-cause-layoffs-experts/story?id=114070962


Stock market today: Wall Street drifts around its record heights
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U.S. stocks are near record highs as of September 25, 2024; S&P 500 up 0.1%, Dow Jones up 5 points, Nasdaq up 0.2%; 41st all-time high for S&P 500 this year; Treasury yields steady after consumer confidence drop; Federal Reserve expected to cut interest rates by half a percentage point at next meeting; Cintas stock rose 1.1% after strong profit report; Stitch Fix fell 34.5% due to revenue forecast; KB Home down 5.8% despite increased orders; global markets mixed with Shanghai up 1.2%, South Korea down 1.3%, London down 0.1%; job market concerns persist as hiring slows.

#StockMarket #S&p500 #FederalReserve #Cintas #StitchFix #InterestRates #ConsumerConfidence #GlobalMarkets #EconomicOutlook #WallStreet

https://abcnews.go.com/US/wireStory/stock-market-today-asian-shares-extend-gains-after-114065506


Wider Middle East war could spike oil prices and rekindle US inflation, experts say
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Israeli airstrikes in Lebanon have killed about 550 people and injured 1,850 since September 24, 2024; potential wider conflict could push gas prices above $5 per gallon; oil prices surged 1.5% on September 24, 2024, and have climbed over 8% in two weeks; U.S. oil production reached a record 12.9 million barrels per day in 2023; Iran's involvement could disrupt global oil supply; weak economic performance in Europe and China is currently lowering oil demand; experts warn of inflationary shocks from rising oil prices.

#MiddleEast #OilPrices #UsEconomy #Inflation #Israel #Hezbollah #Iran #GasPrices #GlobalSupply #EconomicImpact

https://abcnews.go.com/US/wider-middle-east-war-spike-oil-prices-rekindle/story?id=113922941


Unemployment is low but rising quickly. Is it reason to worry?
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Unemployment rate increased from 3.7% to 4.2% in 2024; Federal Reserve cut interest rates to maintain job growth; Acting Labor Secretary Julie Su not concerned about hiring slowdown; Economists divided on labor market outlook; Job growth slowed from nearly 400,000 jobs/month in 2022 to 116,000 jobs/month; 'Prime age' workers at a 23-year high; Claudia Sahm's 'Sahm Rule' indicates rising unemployment may precede recession; Over 10% of Americans underemployed or out of labor force; Future job market trajectory uncertain.

#Unemployment #Economy #FederalReserve #JobGrowth #InterestRates #LaborMarket #Recession #EconomicAnalysis #Employment #Inflation

https://abcnews.go.com/Business/unemployment-low-rising-quickly-reason-worry/story?id=113868600


Biden to celebrate progress of American economy in Thursday remarks
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President Joe Biden will speak on September 19, 2024, at the Economic Club of Washington, D.C., to celebrate progress in the American economy, highlighting the first key interest rate cut since 2020 and falling inflation. White House Chief of Staff Jeff Zients emphasized that the remarks will not declare victory but will outline significant progress and ongoing challenges, particularly in childcare and housing costs. National Economic Adviser Lael Brainard noted the need for more affordable housing and the importance of enabling more workers to participate in the labor force. Concerns about rising unemployment and geopolitical risks were addressed, with officials asserting the economy remains healthy.

#Biden #Economy #InterestRates #Inflation #Housing #Employment #Covid19 #EconomicPolicy #Affordability #GeopoliticalRisks

https://abcnews.go.com/US/biden-celebrate-progress-american-economy-thursday-remarks/story?id=113833192


GOP Gov. DeWine defends Haitian immigrants: 'They came to Springfield to work'
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Ohio Governor Mike DeWine defended Haitian immigrants in Springfield, stating they are legal and came to work, countering claims from former President Donald Trump that they are eating pets. DeWine emphasized the positive impact of the immigrants on the local economy, noting Springfield's population increase from 58,000 to 73,000. He condemned conspiracy theories and hate group activities in the area, announcing $2.5 million in state funding to improve primary care access due to increased patient numbers. DeWine expressed support for the Republican nominee while acknowledging legitimate border issues.

#HaitianImmigrants #MikeDewine #DonaldTrump #Springfield #Ohio #Economy #ConspiracyTheories #HateGroups #PrimaryCare #Politics

https://abcnews.go.com/Politics/gop-gov-dewine-defends-haitian-immigrants-springfield-work/story?id=113690058


Congress targets Chinese influence in health tech. It could come with tradeoffs
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Complete Genomics, a San Jose biotechnology company, faces potential exclusion from the U.S. market due to ties with China; the U.S. House passed the BIOSECURE Act with a 306-81 vote on September 12, 2024, aimed at countering China's influence in health tech; the bill prevents federal funding from benefiting companies linked to China, including Complete Genomics, BGI, MGI, WuXi AppTec, and WuXi Biologics; supporters argue it protects health data and reduces reliance on China, while opponents warn it could delay drug development and raise costs; Rep. Brad Wenstrup sponsors the bill, emphasizing national security; critics, including Rep. Jim McGovern, argue against targeting specific companies; the bill allows eight years for U.S. companies to sever ties with Chinese firms; BIO supports the bill, citing national security concerns.

#Congress #China #HealthTech #Biotechnology #NationalSecurity #Legislation #CompleteGenomics #BiosecureAct #DrugDevelopment #Innovation

https://abcnews.go.com/US/wireStory/congress-targets-chinese-influence-health-tech-tradeoffs-113651967


30,000 Boeing workers are poised for a potential strike. Here's what's at stake
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30,000 Boeing workers are set to vote on a tentative agreement with the IAM on September 12, 2024; the agreement includes a 25% raise over four years, but workers sought a 40% increase; a strike could begin as soon as September 13, 2024; Boeing's CEO Kelly Ortberg took over last month; Boeing carries nearly $60 billion in debt and has seen a 40% drop in share price in 2024; a strike could weaken Boeing's production and impact the U.S. economy, which Boeing contributes nearly $80 billion to annually; the IAM represents 33,000 workers in Washington, Oregon, and California; workers express frustration over compensation amid rising living costs and company mismanagement.

#Boeing #Strike #Union #Iam #Labor #Economy #Ceo #Wages #Employment #Aerospace

https://abcnews.go.com/Business/30000-boeing-workers-poised-potential-strike-stake/story?id=113616770


Stock market today: Wall Street is steady following economic reports with few surprises
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U.S. stocks are mixed on September 12, 2024; S&P 500 up 0.2%, on track for fourth winning week; Dow Jones down 45 points (0.1%); Nasdaq up 0.5%; Nvidia rose 2.6% after an 8.1% jump; Moderna down 17% after pushing break-even forecast to 2028; Treasury yields steady; unemployment benefits applications ticked up; wholesale prices up 1.7% in August; Fed expected to cut rates by 0.25% next week; Kroger shares up 3.3% after strong profit report; Alaska Air Group up 0.9% after raising profit forecast; Delta Air Lines initially rose but fell 0.6%; European Central Bank cut rates by 0.25%; Japan's Nikkei 225 index rose 3.4%.

#StockMarket #Economy #Nvidia #Moderna #FederalReserve #InterestRates #Kroger #AlaskaAir #DeltaAirLines #TreasuryYields

https://abcnews.go.com/Business/wireStory/stock-market-today-asian-shares-rally-encouraged-wall-113611327


US filings for unemployment benefits inch up slightly but remain historically low
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Jobless claims rose by 2,000 to 230,000 for the week of Sept. 7, 2024; four-week average of claims increased by 500 to 230,750; total Americans collecting jobless benefits rose by 5,000 to approximately 1.85 million for the week of Aug. 31; claims averaged 213,000 per week in the first four months of 2024; claims hit 250,000 in late July; employers added 142,000 jobs in August, up from 89,000 in July; revised report shows U.S. economy added 818,000 fewer jobs from April 2023 to March 2024; Fed raised interest rates 11 times in 2022 and 2023 to combat inflation; inflation nearing Fed's 2% target; analysts expect a quarter-point rate cut at next Fed meeting.

#Unemployment #JobMarket #Economy #InterestRates #Inflation #LaborDepartment #JoblessClaims #Employment #FederalReserve #EconomicTrends

https://abcnews.go.com/Business/wireStory/us-filings-unemployment-benefits-inch-slightly-remain-historically-113617788


Fact-checking Kamala Harris and Donald Trump's 1st presidential debate
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The first presidential debate of the 2024 election took place on September 10, 2024, at Philadelphia's National Constitution Center, hosted by ABC News; Vice President Kamala Harris and former President Donald Trump were the participants; Harris claimed 16 Nobel laureates warned Trump's plan could increase inflation, which was mostly true; she also stated Trump proposed a 20% tax on goods, which is true but needs context; Trump claimed inflation is at its worst in history, which is false; Harris said Trump left the worst unemployment since the Great Depression, which needs context; Trump killed a bipartisan border security bill, which is true; Trump falsely claimed Haitian migrants were eating pets in Ohio; Harris claimed Trump intends to implement Project 2025, which needs context; Trump said he would not sign a national abortion ban, contradicting Harris's claim; Trump falsely stated no one was fired over the Afghanistan withdrawal; Harris's claim about Trump's fracking stance needs context; Trump claimed he offered 10,000 National Guard troops for January 6, which is false; Harris's claim about Trump's immunity from prosecution is partly true; Trump's claim about the Nord Stream 2 pipeline is mostly false; Harris's assertion about Trump's Taliban deal needs context; Trump's claims about abortion laws and the 2020 election loss are false; Trump's assertion about military equipment left in Afghanistan is false; Harris's claim about Trump's Central Park 5 ad is true; Trump's claim about love letters to Kim Jong Un is false; Harris's claim about clean energy investments needs context; Trump's comments about an assassination attempt are false; Trump's statement about Ashli Babbitt's shooting is misleading.

#Debate #Factcheck #Harris #Trump #2024Election #Politics #Economy #Immigration #Abortion #Afghanistan

https://abcnews.go.com/Politics/fact-checking-kamala-harris-donald-trumps-1st-presidential/story?id=113567997


Harris set to oppose sale of US Steel to a Japanese firm during joint Pennsylvania event with Biden
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Vice President Kamala Harris plans to oppose the sale of U.S. Steel to Nippon Steel during a joint campaign event with President Joe Biden in Pittsburgh on September 2, 2024; both leaders emphasize the importance of maintaining domestic ownership of U.S. Steel; Harris aims to appeal to American steel workers and voters in Pennsylvania, a critical swing state; this event marks their first joint campaign appearance since Biden's endorsement of Harris in July; Harris has positioned herself as a new leader while supporting Biden's policies; she has promised to address inflation and housing shortages; the pair will also attend Pittsburgh's Labor Day parade, part of their campaign blitz ahead of the November elections; Harris will debate Donald Trump on September 10, 2024.

#KamalaHarris #JoeBiden #UsSteel #NipponSteel #Pennsylvania #LaborDay #2024Election #Campaign #Politics #SteelIndustry

https://abcnews.go.com/US/wireStory/harris-biden-boost-pennsylvania-set-attend-labor-day-113318294


US applications for unemployment benefits rise, still at historically healthy levels
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Jobless claims rose by 4,000 to 232,000 for the week of Aug. 17, 2024; four-week average of claims decreased by 750 to 236,000; 1.86 million Americans collected jobless benefits for the week ending Aug. 10; claims averaged 213,000 a week from January to May; claims hit 250,000 in late July; Federal Reserve raised interest rates 11 times in 2022 and 2023 to a 23-year high; inflation decreased from over 9% in June 2022 to 2.9% last month; employers added 114,000 jobs in July, below the average of 218,000; unemployment rate rose to 4.3%; Labor Department revised job growth down by 818,000 from April 2023 to March 2024; job openings fell from 12.2 million in March 2022 to 8.2 million in June 2024; Fed expected to cut rates in September.

#Unemployment #JoblessClaims #Economy #Inflation #FederalReserve #InterestRates #JobMarket #Employment #Biden #Harris

https://abcnews.go.com/Business/wireStory/us-applications-unemployment-benefits-inch-remain-historically-healthy-113055643


Japan stocks lift Asian market higher after US retail data boost Wall Street
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Japanese stocks led gains in Asian markets after Wall Street rallied to one of its best days of the year; The Nikkei 225 surged 2.9% to 37,800.42; The Hang Seng in Hong Kong added 1.6% to 17,376.44; The Shanghai Composite index edged 0.1% higher to 2,879.93; The S&P 500 jumped 1.6% for its fourth-best day of the year; The Dow Jones Industrial Average rose 1.4%; The Nasdaq composite burst 2.3% higher; U.S. shoppers increased their spending at retailers last month by much more than economists expected; The 10-year Treasury yield climbed up to 3.91% from 3.84%; The two-year Treasury yield jumped to 4.09% from 3.96%; Traders widely expect the Federal Reserve to cut its main interest rate at its next meeting in September

#Japan #AsianMarkets #WallStreet #Nikkei225 #HangSeng #ShanghaiComposite #S&p500 #DowJonesIndustrialAverage #Nasdaq #UsRetailData #TreasuryYield #FederalReserve

https://abcnews.go.com/US/wireStory/japan-stocks-lift-asian-market-higher-after-us-112884334


How major US stock indexes fared Thursday, 8/15/2024
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Wall Street rallied closer to its record highs following signs that the U.S. economy is holding up better than expected; The S&P 500 jumped 1.6% Thursday, marking its sixth gain in a row; The Dow Jones Industrial Average jumped 1.4%, and the Nasdaq composite added 2.3%; Treasury yields leaped in the bond market following reports of increased spending at retailers and fewer workers applying for unemployment benefits; Walmart rose sharply after raising its sales forecast; The S&P 500 rose 88.01 points, or 1.6%, to 5,543.22; The Dow Jones Industrial Average rose 554.67 points, or 1.4%, to 40,563.06; The Nasdaq composite rose 401.89 points, or 2.3%, to 17,594.50; The Russell 2000 index of smaller companies rose 51.15 points, or 2.5%, to 2,135.47; For the week, the S&P 500 is up 199.06 points, or 3.7%; The Dow is up 1,065.52 points, or 2.7%; The Nasdaq is up 849.19 points, or 5.1%; The Russell 2000 is up 54.55 points, or 2.6%; For the year, the S&P 500 is up 773.39 points, or 16.2%; The Dow is up 2,873.52 points, or 7.6%; The Nasdaq is up 2,583.14 points, or 17.2%; The Russell 2000 is up 108.40 points, or 5.3%

https://abcnews.go.com/Business/wireStory/major-us-stock-indexes-fared-thursday-8152024-112875057


How major US stock indexes fared Friday, 8/9/2024
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The S&P 500 rose 0.5% on Friday, with a weekly loss of less than 0.1%. The Dow Jones Industrial Average rose 0.1%, and the Nasdaq composite added 0.5%. Expedia Group reported stronger-than-expected profits. The S&P 500 closed at 5,344.16, the Dow Jones Industrial Average closed at 39,497.54, and the Nasdaq composite closed at 16,745.30. The Russell 2000 index fell 0.2% to 2,080.92. For the week, the S&P 500 is down less than 0.1%, the Dow is down 0.6%, the Nasdaq is down 0.2%, and the Russell 2000 is down 1.3%. For the year, the S&P 500 is up 12%, the Dow is up 4.8%, the Nasdaq is up 11.6%, and the Russell 2000 is up 2.7%.

#UsStockMarket #S&p500 #DowJonesIndustrialAverage #NasdaqComposite #ExpediaGroup #Russell2000

https://abcnews.go.com/Business/wireStory/major-us-stock-indexes-fared-friday-892024-112724434


What does the economic slowdown mean for the election?
==========

The recent stock market downturn and economic slowdown have raised concerns about the impact on the upcoming US presidential election between Vice President Kamala Harris and former President Donald Trump. Experts believe that a mild economic cooldown or market turmoil in August will not significantly affect the election outcome. However, a severe economic downturn could damage Harris's prospects. The disappointing jobs report and rising unemployment rate have triggered recession indicators, but the labor market is still growing and the GDP is solid. The Federal Reserve may cut interest rates to mitigate the economic cooldown. The election forecast remains largely unchanged, with Harris in a virtual tie with Trump. It would take a severe economic downturn over the coming months to change the election outlook. Goldman Sachs economists have raised the probability of a US recession in the next year. Overall, economic performance could still shift the election prospects, but it is unlikely to change significantly.

#UsEconomy #EconomicSlowdown #PresidentialElection #KamalaHarris #DonaldTrump #StockMarket #JobsReport #UnemploymentRate #Gdp #FederalReserve #InterestRates #Recession #EconomicForecast

https://abcnews.go.com/Business/economic-slowdown-election/story?id=112637665


The US economy has defied recession forecasts for years. Is this time different?
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A global stock sell-off on Monday sparked concerns of a possible economic downturn; Japan's Nikkei 225 stock index dropped more than 12%, its worst day of trading since 1987; Major US stock indexes plummeted more than 2%; Nvidia, a chipmaker, dropped as much as 14% before recovering some losses; Economists disagree on whether current economic conditions warrant serious concern about a possible recession or foretell resilience; Some analysts voice optimism, pointing to continued economic growth and a tendency for markets to overreact; Others caution of a monthslong labor market cooldown indicating wider economic weakness and a potential downturn; The disappointing jobs report on Friday triggered the stock market downswing; The unemployment rate climbed to 4.3%, the highest level since October 2021; Some economists doubt whether the rising unemployment rate signals a recession, attributing it to an increase in eligible workers rather than layoffs; Nancy Lazar, chief global economist at Piper Sandler, believes the uptick in the unemployment rate indicates a recession will take place before the end of the year; Goldman Sachs economists raised the probability of a US recession in the next year from 15% to 25%; The market downturn has triggered calls for a large interest rate cut at the Fed's next meeting in September; Economists believe an interest rate cut would not help the economy avoid an imminent recession; Market swings can bring about a recession due to overreactions and self-reinforcing feedback loops.

#UsEconomy #Recession #StockMarket #JobsReport

https://abcnews.go.com/Business/recession-fears-loom-economy-time/story?id=112588104


Japan's Nikkei 225 share benchmark plunges nearly 8% as worries over the U.S. economy trigger sell-offs in world markets
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Japan's Nikkei 225 share benchmark plunges nearly 8% as worries over the U.S. economy trigger sell-offs in world markets; The sell-offs are a result of concerns about the U.S. economy; The Nikkei 225 share benchmark in Japan drops by almost 8%; The drop in the Nikkei 225 is due to worries over the U.S. economy; The sell-offs in world markets are triggered by concerns about the U.S. economy

https://abcnews.go.com/US/wireStory/japans-nikkei-225-share-benchmark-plunges-8-worries-112568507


Japan's Nikkei 225 index plunges 8% as world markets tremble over risks to the US economy
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Japan's benchmark Nikkei 225 stock index has fallen as much as 8.1%; The market's broader TOPIX index also fell 8%; The Nikkei 225 dropped 5.8% on Friday and it is headed for its worst two-day decline ever; Share prices have fallen in Tokyo since the Bank of Japan raised its benchmark interest rate on Wednesday; The dollar was trading at 143.07 yen, down from 146.45 late Friday; South Korea's Kospi plummeted 6.5% as Samsung's shares sank 7.7%; Taiwan's Taiex crumbled, losing 7.4% as Taiwan Semiconductor Manufacturing Co., the world's biggest chip maker, dropped 8%; The future for the S&P 500 was 1.5% lower and that for the Dow Jones Industrial Average was down 0.7%; The VIX, an index that measures how worried investors are about upcoming drops for the S&P 500, fell about 26% as of early Monday; Bitcoin was down 14% at $54,155.00; U.S. benchmark crude oil gained 9 cents to $73.61 per barrel while Brent crude was flat at $76.81 per barrel; Hong Kong's Hang Seng index lost 0.2% to 16,908.96 and the S&P/ASX 200 in Australia declined 12.8% to 7,722.60; The Shanghai Composite index edged 0.1% higher; The S&P 500's 1.8% decline Friday was its first back-to-back loss of at least 1% since April; The Dow Jones Industrial Average dropped 1.5%, and the Nasdaq composite fell 2.4%; The Nasdaq composite is 10% below its record set last month; The Federal Reserve may have kept its main interest rate at a two-decade high for too long, raising risks of a recession in the world's largest economy

#Japan #Nikkei225 #StockMarket #Selloffs #UsEconomy #BankOfJapan #InterestRate #Tokyo #SouthKorea #Kospi #Samsung #Taiwan #Taiex #TaiwanSemiconductorManufacturingCo #ChipMaker #S&p500 #DowJonesIndustrialAverage #Vix #Bitcoin #CrudeOil #HangSengIndex #S&p/asx200 #ShanghaiCompositeIndex #FederalReserve #Recession

https://abcnews.go.com/US/wireStory/japans-nikkei-225-index-plunges-7-global-sell-112566489


Japan's benchmark Nikkei 225 stock index drops nearly 5%, extending sell-offs stoked by worries over the US economy
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Japan's benchmark Nikkei 225 stock index drops nearly 5% due to worries over the US economy; sell-offs continue; concerns about the US economy stoke the sell-offs

https://abcnews.go.com/US/wireStory/japans-benchmark-nikkei-225-stock-index-drops-5-112566485


Stocks fall sharply as worries mount about weakening US economy. Dow drops 600, Nasdaq closes 10% below July high (CORRECTS: A previous APNewsAlert erroneously reported the Nasdaq's most recent high occurred in June})
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Stocks fall sharply as worries mount about weakening US economy; Dow drops 600, Nasdaq closes 10% below July high; Nasdaq's most recent high occurred in July; Trump's comments on Jewish Democrats and second gentleman Doug Emhoff spark criticism; Former Olympic champion Marion Jones reflects on her conviction and looks to the future; Trump lashes out at Biden over historic prisoner exchange that freed Paul Whelan and Evan Gershkovich; IT outages reported across the globe

#StockMarket #UsEconomy #Dow #Nasdaq #Trump #JewishDemocrats #DougEmhoff #MarionJones #PrisonerExchange #PaulWhelan #EvanGershkovich #ItOutages

https://abcnews.go.com/US/wireStory/stocks-fall-sharply-worries-mount-weakening-us-economy-112524126


Eurozone economy grew modestly by 0.3% in the second quarter as Germany shrank, highlighting growth gap with U.S.
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The Eurozone economy grew by 0.3% in the second quarter, while Germany experienced a contraction; this highlights the growth gap between the Eurozone and the U.S.

#Eurozone #Germany #Us #EconomicGrowth

https://abcnews.go.com/US/wireStory/eurozone-economy-grew-modestly-03-quarter-germany-shrank-112393071


How major US stock indexes fared Thursday, 7/25/2024
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Smaller stocks and other formerly unloved areas of the market rose up while Big Tech stocks gave back gains; The S&P 500 fell 0.5% after a healthy gain from earlier in the day evaporated; The Dow Jones Industrial Average rose 0.2%; The Nasdaq composite lost 0.9%; The Russell 2000 index of smaller companies rose 1.3%; For the week, the S&P 500 is down 1.9%, the Dow is down 0.9%, the Nasdaq is down 3.1%, and the Russell 2000 is up 1.8%; For the year, the S&P 500 is up 13.2%, the Dow is up 6%, the Nasdaq is up 14.5%, and the Russell 2000 is up 9.7%

https://abcnews.go.com/Business/wireStory/major-us-stock-indexes-fared-thursday-7252024-112284350


US economy grew much faster than expected in 2nd quarter
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The U.S. economy grew at a 2.8% annualized rate over three months ending in June, doubling the rate of growth from the previous quarter. The data could complicate the path toward an expected interest rate cut from the Federal Reserve in September. Inflation has slowed, but remains higher than the Fed's target rate. If the Fed cuts interest rates while the economy is heating up, it risks rekindling rapid price increases. The chances of an interest rate cut in September stand at more than 80% according to market sentiment.

#UsEconomy #GdpGrowth #FederalReserve #Inflation #InterestRates

https://abcnews.go.com/Business/us-economy-grew-faster-expected-2nd-quarter/story?id=112263048


What we heard about the economy, immigration and foreign policy at the RNC
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The Republican National Convention (RNC) focused on Trump's strengths with voters, highlighting the economy, immigration, and foreign policy. Voters trust Republicans and former President Donald Trump on the economy, immigration, and foreign policy, while they trust Democrats and President Joe Biden more on abortion, healthcare, protecting democracy, and uniting the country. The RNC speeches were organized around Trump's platform of making America "wealthy," "safe," and "strong." Republicans emphasized concerns about the cost of living, inflation, and high prices, with many speakers mentioning inflation and its impact on families. Immigration was a key issue, with speakers criticizing Biden's handling of the issue and connecting it to crime and the drug overdose crisis. Foreign policy was also discussed, with speakers highlighting Trump's strong stance and criticizing Biden's policies on Russia, Ukraine, Israel, Palestine, Iran, and China. The RNC maintained message discipline and reinforced the same themes throughout the event, tying them to the issues where they have an advantage with voters.

#Rnc #RepublicanParty #DonaldTrump #JoeBiden #Economy #Immigration #ForeignPolicy

https://abcnews.go.com/538/heard-economy-immigration-foreign-policy-rnc/story?id=112179494


Who will replace Joe Biden as presidential nominee? Kamala Harris does best against Trump in polls
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Kamala Harris is seen as a likely top contender to replace Joe Biden as the Democratic nominee for president. Biden endorsed Harris for the Democratic nominee. In a potential matchup between Harris and former President Donald Trump, they were nearly tied in polls. Other potential successors include Gretchen Whitmer, Gavin Newsom, Andy Beshear, J.B. Pritzker, Pete Buttigieg, and Michelle Obama. Whitmer, Newsom, and Buttigieg were also polled against Trump with varying results. Harris has been campaigning for Biden and expressed confidence in defeating Trump. Whitmer defended Biden's debate performance and criticized Trump. Newsom praised Biden's leadership. Beshear thanked Biden for his leadership. Pritzker has been a vocal Biden surrogate. Buttigieg supported Biden in the 2020 campaign. Michelle Obama has repeatedly stated she has no interest in running for president. In a poll, she led Trump by a significant margin.

#JoeBiden #KamalaHarris #DonaldTrump #GretchenWhitmer #GavinNewsom #AndyBeshear #JbPritzker #PeteButtigieg #MichelleObama

https://abcnews.go.com/Politics/biden-drops-replace-harris-trump-polls/story?id=111648515


At Trump's GOP convention, there’s little to be heard on health care
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Health care issues received little attention at the Republican National Convention where Donald Trump was nominated as the party's 2024 presidential candidate. In 2016, the GOP focused on repealing the Affordable Care Act and overturning Roe v. Wade, but the change in tone reflects Trump's political sensitivities. The GOP's 2024 platform promises not to cut Social Security or Medicare and vows to protect Medicare and find cures for Alzheimer's disease and cancer. The convention speakers instead focused on inflation, crime, and immigration. The GOP platform also stripped federal limits on abortion and supports state-level elections on abortion policy. Vaccine skepticism has grown in the Republican Party, with only 36% of Republicans saying they're confident in the safety of COVID-19 vaccines.

#RepublicanNationalConvention #DonaldTrump #HealthCare #AffordableCareAct #RoeVWade #Medicare #SocialSecurity #Inflation #Crime #Immigration #Abortion #VaccineSkepticism

https://abcnews.go.com/Health/trumps-gop-convention-heard-health-care/story?id=112102972


Fact-checking Donald Trump's RNC speech on immigration, the economy, world affairs and more
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Former President Donald Trump closed out the final night of the 2024 Republican National Convention with a 92-minute speech that addressed a host of issues on Americans' minds; Trump claimed there was "a massive invasion at our southern border that has spread misery, crime, poverty, disease and destruction to communities all across our land," which is false as there is no evidence of a major surge in crime caused by recent arrivals and crime is down across the country overall; Trump also claimed he would end the immigration crisis "by closing our border and finishing the wall, most of which I have already built," which is false as he had actually implemented roughly 450 miles of barriers, much of which was just upgrading existing barriers that already existed; Trump argued dangerous criminals "are coming from prisons and jails, from mental institutions and insane asylums, and terrorists at levels never seen before," which needs context as he was likely referring to the latest statistics released by Immigration and Customs Enforcement; Trump said his administration "ended all catch-and-release," which is false as migrants were more likely to be "released" through this process under Trump compared to Biden; Trump claimed the tax legislation passed during his presidency was the largest tax cut ever, which needs more explanation as it was the fourth-largest since 1940 in inflation-adjusted dollars and ranked seventh as a percentage of GDP; Trump said the U.S. had the best economy in the history of our country, "no inflation" and soaring incomes, which is false as unemployment rates matched or exceeded those levels under Joe Biden, GDP growth under Trump was well below that of previous presidents, wage growth increased but did not soar, and inflation was not zero but low; Trump said he would reverse government regulations to encourage the development of electric vehicles, saying he’d be "saving the U.S. auto industry from complete obliteration, which is happening right now," which is false as employment in auto and parts manufacturing had risen by 127,800 jobs through December 2023 under Biden's presidency; Trump claimed credit for the war and defeating ISIS, the great economy, the biggest tax cuts ever, the biggest regulation cuts ever, the creation of Space Force, and the rebuilding of the military, which needs context as he rightly gets credit for shrinking the territory ISIS controlled but it’s wrong to say ISIS was or is defeated; Trump claimed the U.S. left behind $85 billion worth of military equipment in Afghanistan, which is false as the United States spent $88.6 billion in Afghanistan providing security assistance over the course of two decades, and only a fraction of it was for hardware; Trump claimed he's leading in Nevada by 14 points, which is false as he leads Biden by only 6 points in the Silver State; Trump said, "We’ve had the worst inflation we’ve ever had under this person [Biden]," which is false as the overall rate is nowhere near a record; Trump said of Biden's administration, "This is the only administration that said we're going to raise your taxes by four times what you're paying now," which is false as Biden proposes a tax increase of roughly 7% over the next decade, not 300%, and about 83% of the proposed Biden tax increase would be borne by the top 1% of taxpayers.

https://abcnews.go.com/Politics/fact-checking-donald-trumps-rnc-speech-immigration-economy/story?id=112091019


Amazon Prime Day 2024: Shop top picks and discounts in tech, home and more
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Amazon Prime Day 2024 is running from July 16-17, featuring discounts on tech, gadgets, styles, beauty brands, and home essentials. Prime members get exclusive access to deals on Amazon Echo, Fire TV, and Kindle devices. ABC News is curating noteworthy deals, including flash deals, steep discounts, and products seen on their shows. Some featured deals include a 35% discount on an Anker portable charger, a 55% discount on a Matein travel laptop backpack, a $180 discount on the Dyson V15 Detect Plus Cordless Vacuum, and a 57% discount on the Arcade1Up Mortal Kombat Head-to-Head Arcade Table. ABC News may receive a commission for purchases made through their shopping links.

#AmazonPrimeDay #Shopping #Discounts #Tech #Home #Anker #Matein #Dyson #Arcade1up

https://abcnews.go.com/Shop/live-updates/best-amazon-prime-day-deals-2024/?id=111957386


China reports its economy slowed in the last quarter, expanding 4.7% in annual terms
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China's economy expanded 4.7% in annual terms in the last quarter, indicating a slowdown. The report was released by China. The slowdown in the economy is a significant development. The news was reported by ABC News on July 14, 2024, at 10:10 PM. The article provides no additional information about the topic.

https://abcnews.go.com/US/wireStory/china-reports-economy-slowed-quarter-expanding-47-annual-111941094


Trump shooting live updates: No motive known, Biden to give Oval Office address Sunday night
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Former President Donald Trump was shot in an assassination attempt at an election rally in Butler, Pennsylvania. Secret Service agents swarmed Trump and led him off the stage to a waiting vehicle. Trump is 'fine,' a spokesperson said. The alleged shooter is dead. One spectator was killed and two were hurt. President Joe Biden had a conversation with Trump and urged the public to not make assumptions about the motive. Biden directed the FBI to conduct a thorough investigation. Biden extended condolences to the family of the killed rallygoer and said he will speak from the Oval Office at 8 p.m. ET on Sunday. Trump will leave for Milwaukee for the Republican National Convention on Sunday afternoon. The firearm used in the shooting was legally purchased by the suspect's father. The shooter had no military affiliation. Explosives were found in the suspect's car. Biden is rescheduling his trip to Texas and will deliver remarks to the nation at 1:30 p.m. ET on Sunday.

#DonaldTrump #JoeBiden #Shooting #AssassinationAttempt #SecretService #Investigation #RepublicanNationalConvention

https://abcnews.go.com/Politics/live-updates/donald-trump-rally-shooting-assassination-attempt/?id=111916828


Global leaders condemn Donald Trump's assassination attempt
==========

Global leaders have expressed concern over an assassination attempt targeting former U.S. President Donald Trump at a rally in Pennsylvania that left one attendee dead and critically injured two others. The shooting pierced the upper part of Trump's right ear, but his campaign said he was doing 'fine'. The Secret Service killed the suspected shooter who attacked from an elevated position outside the rally venue. Leaders from around the world, including Albania, Australia, Austria, Brazil, Canada, China, Czech Republic, Egypt, El Salvador, Estonia, France, Germany, Hungary, India, Iraq, Israel, Italy, Japan, Kosovo, Latvia, Lithuania, Mexico, Norway, Pakistan, Russia, South Korea, Slovakia, Sweden, Taiwan, Turkey, Ukraine, and the United Kingdom, condemned the attack and expressed their wishes for Trump's recovery. Many leaders emphasized the importance of peaceful political discourse and condemned political violence. Russian foreign ministry spokeswoman suggested that American lawmakers should use the money allocated for supplying weapons to Ukraine to finance the American police. The article was published on July 14, 2024, at 3:25 AM by ABC News.

#DonaldTrump #AssassinationAttempt #GlobalLeaders #Condemnation #Violence

https://abcnews.go.com/US/wireStory/global-leaders-condemn-donald-trumps-assassination-attempt-111923641


Pennsylvania Supreme Court justice in courtroom for brother's federal sentencing for theft, bribery
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John Dougherty, a former Philadelphia labor leader, is being sentenced for bribing a City Council member and stealing nearly $600,000 from the union he ran. His brother, Pennsylvania Supreme Court Justice Kevin Dougherty, was present in the courtroom. Dougherty was convicted in December of embezzlement, conspiracy, and other counts. He used the electricians' union as his personal bank account and source of jobs for family and friends. Prosecutors argued for a lengthy prison term, while Dougherty's supporters testified about his charitable works and union advocacy. The sentencing is expected to be handed down later today.

#PennsylvaniaSupremeCourt #JohnDougherty #KevinDougherty #Bribery #Theft #Union #Sentencing

https://abcnews.go.com/US/wireStory/pennsylvania-supreme-court-justice-courtroom-brothers-federal-sentencing-111853414


Joe Jonas says new solo single 'Work It Out' brought him 'happiness & peace'
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Joe Jonas announced that his new solo single, 'Work It Out,' will be released on Friday, July 19. He expressed excitement and gratitude to collaborate with his favorite musicians and creators. Jonas has previously released solo music with his 2011 album 'Fastlife' and as part of the group DNCE. The single's artwork features Jonas wearing jeans and a denim jacket over a red T-shirt against a blue sky background. He hopes listeners find as much happiness and peace as he does when they listen to his songs.

#JoeJonas #SoloSingle #Music #Happiness #Peace

https://abcnews.go.com/GMA/Culture/joe-jonas-new-solo-single-work-it-out-happiness-peace/story?id=111842432


Video Boeing Starliner astronaut's return home delayed
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The return of the Boeing Starliner astronaut has been postponed for a fourth time. NASA wants more time to review test data after helium leaks and thruster issues. The delay was announced on June 22, 2024.

https://abcnews.go.com/GMA/News/video/boeing-starliner-astronauts-return-home-delayed-111335846


Justice Department won't prosecute Garland for contempt, says refusal to provide audio wasn't crime
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Attorney General Merrick Garland will not be prosecuted for contempt of Congress after refusing to turn over audio of President Joe Biden’s interview in his classified documents case because his actions “did not constitute a crime." The Justice Department cited the department's longstanding policy not to prosecute officials who don’t comply with subpoenas because of a president’s claim of executive privilege. The decision comes after the House voted to hold Garland in contempt of Congress. The Justice Department only turned over some of the records, leaving out audio of the interview with the president. Garland is the third attorney general to be held in contempt of Congress. The last attorney general held in contempt was Bill Barr in 2019. The special counsel in Biden’s case, Robert Hur, found insufficient evidence to successfully prosecute a case in court.

#MerrickGarland #JoeBiden #Congress #JusticeDepartment #Contempt #ExecutivePrivilege

https://abcnews.go.com/US/wireStory/justice-department-prosecute-garland-contempt-refusal-provide-audio-111134793


Yellen says China's trade policies could 'interfere significantly' with US bilateral relationship
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Treasury Secretary Janet Yellen warns that China's trade policies, including overconcentrated supply chains and government subsidies, pose a threat to U.S. jobs and recent investments in the green energy sector. Yellen emphasizes the need for a level playing field and rejects the idea of 'decoupling' from China. The U.S. has recently imposed tariffs on Chinese products, and the European Union is also considering higher tariffs on Chinese goods. Yellen's speech comes as former President Donald Trump presents his case for returning to the Oval Office and both Biden and Trump have pledged to be tough on China.

#JanetYellen #China #TradePolicies #UsJobs #GreenEnergySector #Tariffs #GovernmentSubsidies #LevelPlayingField #Decoupling #DonaldTrump #JoeBiden

https://abcnews.go.com/Business/wireStory/yellen-chinas-trade-policies-interfere-significantly-us-bilateral-111099275


Inflation expected to have held steady in May
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The release of data on Wednesday will reveal the latest movement for consumer prices, which economists expect to have risen 3.4% over the year ending in May. Price increases have slowed significantly from a peak of about 9%, but inflation still stands more than a percentage point higher than the Federal Reserve's target rate of 2%. The Federal Reserve is expected to hold interest rates steady for the seventh consecutive time at the close of its meeting on Wednesday. Price increases have drawn attention from voters as the U.S. hurtles toward a closely contested presidential election in the fall, with 85% of U.S. adults considering inflation an important issue. Former President Donald Trump is trusted more than President Joe Biden on the economy and inflation by a margin of 14 percentage points.

#Inflation #ConsumerPrices #FederalReserve #InterestRates #Economy #PresidentialElection

https://abcnews.go.com/Business/inflation-expected-held-steady/story?id=111012785


Biden's team asks CEOs how to further boost the economy while Trump says business is on his side
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Top Biden administration officials have been reaching out to CEOs and corporate leaders to ask about their needs, encroaching on the business community terrain that former President Donald Trump considers his home turf. Both candidates want to convey that they can work with employers, despite the divided electorate. Biden's team wants to hear from CEOs about how to drive investment and sustain growth, while Trump argues that his policies such as tax cuts, deregulation, and increased oil and gas production are beneficial for business. The CEOs that the Biden team has met with are generally satisfied with the performance of the stock market and the overall economy. They are looking for ways to sustain growth, streamline government permitting, and renew a corporate tax break for research and development expenses. Corporate leaders also expressed concerns about Trump's tariff hikes and the potential disruption of relationships with trade partners. Biden's team has been increasing its outreach to CEOs at the behest of White House chief of staff Ron Klain. The administration believes that its plans for overall growth are better for profits in the long run. The shortage of skilled workers is a major concern for businesses, as there are more job openings than unemployed people seeking work. The Biden administration aims to address this issue by partnering with companies and focusing on skill development. Commerce Secretary Gina Raimondo emphasizes the need for greater partnerships with companies to ensure a large pool of trained workers and to provide paths into the middle class for voters.

#Biden #Trump #Ceos #Economy #Business

https://abcnews.go.com/US/wireStory/bidens-team-asks-ceos-boost-economy-trump-business-110984476


Republican challenger to Tester leans into his outsider status in Montana U.S. Senate debate
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Republican U.S. Senate candidate Tim Sheehy embraced his status as an outsider who came to Montana to start a business during the first debate in a race that could tip the balance of power in the Senate. Incumbent Sen. Jon Tester is considered one of the most vulnerable Democrats on the ballot. Sheehy blamed Democrats for the increasing economic pressures faced by many households and criticized Tester and President Joe Biden for not doing enough to rein in inflation. Tester accused Sheehy of being part of the problem amid a housing shortage and rising taxes. The candidates also clashed on immigration and abortion. Sheehy has invested over $2 million of his own money into the campaign and received almost $11 million in donations, while Tester has reported raising $37 million.

#Republican #Challenger #Tester #Montana #UsSenate #Debate

https://abcnews.go.com/US/wireStory/republican-challenger-tester-leans-outsider-status-montana-us-110967568


Keeping children safe on social media: What parents should know to protect their kids
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Navigating social media as a parent and child is challenging. Most American teenagers use social media platforms daily, with TikTok being the most popular. Concerns about the effects of social media on young people have led to discussions on child online safety. The Children's Online Privacy Protection Act prohibits kids under 13 from using platforms that advertise to them without parental consent. However, online privacy is not the only concern; bullying, harassment, and mental health issues are also prevalent. There is no consensus on the ideal age for kids to join social media, but experts suggest waiting until they are older. Some tech executives and parents have banned their kids from social media altogether, but this can lead to isolation. Parents should start early by discussing social media with their children and setting limits. Educating kids about the negative aspects of social media and using parental controls can also be helpful. However, it is unfair to expect parents to manage rapidly evolving technology on their own. Lawmakers are proposing regulations to increase the age limit for social media, but verifying age is challenging. Overall, parents and teens need to be aware of the risks and have open discussions about social media use.

https://abcnews.go.com/Health/wireStory/keeping-children-safe-social-media-parents-protect-kids-110885553


How major US stock indexes fared Tuesday, 6/4/2024
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U.S. stocks held relatively steady on Tuesday, June 4, 2024, after a report suggested the job market is cooling. The S&P 500 rose 0.2%, the Dow Jones Industrial Average rose 0.4%, and the Nasdaq composite added 0.2%. Treasury yields slid after the report showed U.S. employers advertised fewer job openings at the end of April than economists expected. Wall Street wants the job market and overall economy to slow to convince the Federal Reserve to cut interest rates, but there is concern that a slowdown could lead to a painful recession. The Russell 2000 index of smaller companies fell 1.2%. For the week, the S&P 500 is up 0.3%, the Dow is up 0.1%, the Nasdaq is up 0.7%, and the Russell 2000 is down 1.7%. For the year, the S&P 500 is up 10.9%, the Dow is up 2.7%, the Nasdaq is up 12.3%, and the Russell 2000 is up 0.3%.

#UsStocks #S&p500 #DowJonesIndustrialAverage #NasdaqComposite #JobMarket #FederalReserve #Recession #Russell2000

https://abcnews.go.com/Business/wireStory/major-us-stock-indexes-fared-tuesday-642024-110828860


How major US stock indexes fared Monday, 6/3/2024
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Stocks ended mixed on Wall Street following the latest signal showing the U.S. economy is slowing. The S&P 500 edged up 0.1% after erasing a midday slump. The Dow Jones Industrial Average lost 0.3%, and the Nasdaq composite rose 0.6%. Several tech stocks including Nvidia ended higher, but stocks of oil-and-gas producers fell after the price of crude tumbled. Treasury yields slid in the bond market after a report showed that U.S. manufacturing shrank in May for the 18th time in 19 months. The S&P 500 rose 5.89 points, or 0.1%, to 5,283.40. The Dow Jones Industrial Average fell 115.29 points, or 0.3%, to 38,571.03. The Nasdaq composite rose 93.65 points, or 0.6%, to 16,828.67. The Russell 2000 index of smaller companies fell 10.44 points, or 0.5%, to 2,059.68. For the year, the S&P 500 is up 513.57 points, or 10.8%. The Dow is up 881.49 points, or 2.3%. The Nasdaq is up 1,817.32 points, or 12.1%. The Russell 2000 is up 32.61 points, or 1.6%.

https://abcnews.go.com/Business/wireStory/major-us-stock-indexes-fared-monday-632024-110791834


The Biden administration is releasing gasoline reserves. Will it lower prices at the pump?
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The Biden administration is releasing 1 million barrels of gasoline from a Northeast reserve in an effort to reduce prices at the pump during the summer driving season. The gasoline will be sold in 100,000-barrel tranches over a six-week period between Memorial Day and July 4. Experts believe that while the release may result in a modest reduction in prices for drivers in the mid-Atlantic and Northeast, it will have little effect nationwide. The national average price for a gallon of unleaded regular gas is currently $3.61, which is a slight increase from a year ago. The release of gasoline reserves is unlikely to help regions like the West Coast where drivers are experiencing the highest prices due to a lack of pipeline capacity. The Northeast Gasoline Supply Reserve was established in the mid-2010s after Superstorm Sandy, and the decision to empty the reserve comes after Congress called for its closure. The Biden administration sees this release as part of its effort to lower energy prices for American consumers. Rising gas prices can negatively impact a president's approval rating, as each 10-cent increase in gas prices is associated with a decline in presidential approval.

#GasolineReserves #GasPrices #BidenAdministration #EnergyPrices #SummerDrivingSeason

https://abcnews.go.com/Business/biden-administration-releasing-gasoline-reserves-lower-prices-pump/story?id=110496772


May's full Flower Moon: How to see it and what it means for your zodiac sign
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The Flower Moon will arrive on May 23, 2024 at 9:53 p.m. E.T. The full moon was dubbed "Flower Moon" because flowers spring forth across North America in abundance around this time. The Full Moon will reach peak illumination in the United States on Thursday, May 23, at 9:53 a.m., E.T. The zodiac sign for the Flower Moon in May is Sagittarius, a fire sign and the ninth on the wheel. The Flower Moon encourages adventure, learning, and expanding perspectives. Rituals and manifestations during the Flower Moon include using fire in rituals, writing down things to release and burning them, and meditating on expanding horizons. Astrology horoscope for the Flower Moon includes predictions for each zodiac sign. Aries may feel invigorated to switch up routines and focus on long-distance travel or international business. Taurus may evaluate relationships and experience financial shifts. Gemini may face the truth in a significant partnership. Cancer may have a busy month with many projects. Leo may enjoy romance and courtship. Virgo may focus on stability, security, and reflect on the past. Libra may feel curious and eager to step out of their comfort zone. Scorpio may take a closer look at finances. Sagittarius may achieve an important personal or professional goal. Capricorn may desire rest and relaxation. Aquarius may join groups and communities and have fun. Pisces may receive recognition or success in their professional life.

#FlowerMoon #ZodiacSign #Astrology #Rituals #Manifestations

https://abcnews.go.com/GMA/Living/may-full-flower-moon-meaning-2024/story?id=110283612


Georgia voters split on issue priorities by partisanship — except on the economy
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Georgia voters prioritize the economy as the most important issue, according to a poll. 35% of registered Georgia voters, including 28% of Democrats, 41% of Republicans, and 34% of independents, selected the economy as the top issue. Republicans also prioritize immigration, while Democrats focus on healthcare and abortion access. In the Georgia Supreme Court race, incumbent Justice Andrew Pinson is leading former Democratic Rep. John Barrow. Pinson is performing well in Atlanta suburbs, including counties that voted for Biden in 2020. Fulton County District Attorney Fani Willis and Judge Scott McAfee, involved in Trump's Georgia trial, are projected to win their Democratic primaries. Monica McBath is holding a strong lead in her new district due to redistricting. Overall, Georgia voters' issue priorities align with their partisan affiliations, except for the economy.

#Georgia #PrimaryElections #Voters #Partisanship #Economy #Immigration #Healthcare #AbortionAccess #GeorgiaSupremeCourt #FaniWillis #ScottMcafee #AndrewPinson #JohnBarrow #MonicaMcbath

https://abcnews.go.com/538/live-updates/georgia-oregon-idaho-kentucky-primaries/georgia-voters-split-on-issue-priorities-by-partisanship--except-on-the-economy-110449794?id=110412241


Russian court freezes assets of two German banks in gas project dispute
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A court in St. Petersburg has ordered the seizing of assets of Germany's Deutsche Bank and Commerzbank in Russia in response to a lawsuit over the planned construction of a liquefied natural gas terminal in the Baltic Sea. The banks were guarantors in the contract for building a gas processing plant by Renaissance Heavy Industries and German company Linde. The project was cancelled after Western sanctions, with the banks withdrawing their guarantees. RusChemAlliance, a subsidiary of Russian gas giant Gazprom and the project operator, is claiming about 238.61 million euros ($260 million) against Deutsche Bank and 94.92 million euros ($103 million) against Commerzbank. Deutsche Bank has made a provision of approximately 260 million euros ($283 million) under an indemnification agreement and will assess the immediate operational impact in Russia and how the claim will be viewed by the Russian courts.

https://abcnews.go.com/International/wireStory/russian-court-freezes-assets-german-banks-gas-project-110374934


Helicopter carrying Iran's president suffers a 'hard landing,' state TV says
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A helicopter carrying Iranian President Ebrahim Raisi suffered a 'hard landing' near Jolfa, a city on the border with Azerbaijan. Raisi was traveling in Iran's East Azerbaijan province. Rescuers were attempting to reach the site but were hampered by poor weather conditions. Raisi had been in Azerbaijan to inaugurate a dam with Azerbaijan's President Ilham Aliyev. Raisi, a hard-liner and protégé of Iran's Supreme Leader Ayatollah Ali Khamenei, won Iran's 2021 presidential election. He is sanctioned by the U.S. for his involvement in the mass execution of political prisoners in 1988. Under Raisi, Iran now enriches uranium at nearly weapons-grade levels and hampers international inspections. Iran has armed Russia in its war on Ukraine and launched a drone-and-missile attack on Israel. It also continues to arm proxy groups in the Middle East.

#Iran #EbrahimRaisi #HelicopterIncident #Azerbaijan

https://abcnews.go.com/International/wireStory/rescuers-reach-helicopter-involved-incident-traveling-iran-president-110372576


Photo of upside-down flag at Supreme Court Justice Samuel Alito's house raises concerns: Report
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A photo of an upside-down American flag flying at the home of Supreme Court Justice Samuel Alito and his wife Martha-Ann in January 2021 has raised concerns. The flag was placed by Martha-Ann Alito in response to a neighbor's use of objectionable language on yard signs. The yard signs were reported to be anti-Donald Trump. Legal ethics experts say this could possibly violate the spirit of the court's ethics code. The Supreme Court is expected to rule on two cases regarding the Jan. 6 riots, including whether Trump has immunity for his actions during the riots. Congress is urged to impose meaningful ethics enforcement on a Court that refuses to police itself.

#SupremeCourt #SamuelAlito #AmericanFlag #EthicsCode #Jan6Riots

https://abcnews.go.com/Politics/photo-upside-flag-supreme-court-justice-samuel-alitos/story?id=110339877


A West Bank village feels helpless after Israeli settlers attack with fire and bullets
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A West Bank village called Duma has been targeted by Israeli settlers in an attack that left 15 homes damaged by arson and six residents injured by bullets. The attack, which caused an estimated five million shekels ($1.3 million) in damage, is one of nearly 800 settler attacks against Palestinians in the occupied West Bank since Hamas attacked Israel from the Gaza Strip on October 7. The village of Duma, with a population of over 2,000 people, lacks the power to defend itself and has limited resources to clean up and rebuild. Israeli human rights groups blame the far-right government of Prime Minister Benjamin Netanyahu for fueling settler violence by promoting an ideology of total Israeli supremacy in the West Bank. The United States has increased pressure on Israel to curb settler attacks in the West Bank, but the chief of Duma does not believe the pressure campaign will be effective. Duma is surrounded by outposts that have expanded gradually over the past decade, and settlers have cut off the village's access to vital springs and wells. The village is in a section of the West Bank known as Area B, where the Palestinian Authority governs civil affairs but the Israeli military is in charge of security.

#WestBank #IsraeliSettlers #Violence #Palestinians #SettlerAttacks #IsraeliGovernment #BenjaminNetanyahu #UnitedStates #PressureCampaign #PalestinianAuthority

https://abcnews.go.com/International/wireStory/west-bank-village-feels-helpless-after-israeli-settlers-110096513


Stock market today: Global shares trade higher after Wall Street rally takes S&P 500 near record
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Global shares are trading higher after a rally on Wall Street that pulled the S&P 500 back within 1% of its record. In London, the FTSE 100 rose 0.8% to 8,448.34 as the British economy bounced back strongly in the first three months of the year, ending a 'technical recession.' France's CAC 40 gained 0.8% to 8,253.19, while Germany's DAX added 0.8% to 18,830.43. Japan’s benchmark Nikkei 225 rose 0.4% to finish at 38,229.11. Hong Kong's Hang Seng jumped 2.3% to 18,963.68. Chinese price data, expected Saturday, are being watched to see if the economy might be regaining momentum. On Thursday, the S&P 500 rose 0.5% and the Dow Jones Industrial Average gained 0.8%. Federal Reserve Chair Jerome Powell said last week that the central bank remains closer to cutting its main interest rate than hiking it. Benchmark U.S. crude rose 48 cents to $79.74 a barrel. The U.S. dollar rose to 155.71 Japanese yen from 155.50 yen. The euro inched up to $1.0786 from $1.0782.

#StockMarket #GlobalShares #WallStreet #S&p500 #Ftse100 #Cac40 #Dax #Nikkei225 #HangSeng #ChineseEconomy #FederalReserve #CrudeOil #CurrencyExchange

https://abcnews.go.com/Business/wireStory/stock-market-today-asian-shares-trade-higher-after-110097292


Top Biden aide highlights upcoming tax showdown with GOP over 2017 cuts that are due to expire
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Lael Brainard, director of the White House National Economic Council, will deliver remarks at the Brookings Institution on Friday highlighting the upcoming tax showdown between the Biden administration and the GOP over the 2017 income tax cuts. Many of the tax cuts are set to expire after next year, and if extended, another $4.6 trillion would be added to the national debt over the next decade. Brainard argues that the 2017 tax cuts failed to deliver the promised growth and let wealthy households pay lower rates than middle-class earners. Trump opposes tax hikes, while Biden wants to extend middle-class tax cuts and raise taxes on profitable companies and the wealthy. The Biden administration aims to raise awareness of tax fairness and emphasizes its commitment to not raise taxes on anyone making less than $400,000. The expiration of Trump's tax package next year will put tax fairness front and center. Trump argues that the expiration of his tax cuts would cause mass layoffs and permanently cripple the economy, while Biden believes growth will come from spending by financially secure middle-class households. Trump's 2017 overhaul cut the corporate tax rate to 21% and temporarily reduced income taxes for most households. Biden's tax plan assumes all of Trump's tax cuts will expire, but it's unclear how he would lower the deficit as much as advertised in his budget proposal. Republicans may face challenges in continuing the tax cuts without worsening the government's finances and may need to consider spending cuts to address the higher debt loads. Higher debt loads could lead to higher interest rates and more expensive mortgages and auto loans.

#BidenAdministration #Gop #TaxCuts #TaxPolicy #EconomicGrowth

https://abcnews.go.com/US/wireStory/top-biden-aide-highlights-upcoming-tax-showdown-gop-110098433


Stock market today: Asian shares mixed after calm day on Wall St
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Asian shares were mixed on Wednesday after U.S. stocks held relatively steady on Wall Street. Tokyo's Nikkei 225 lost 1.6% to 38,202.37. Nintendo Co.’s share price sank 5.4% after the company’s forecasts disappointed investors and it announced that news of a successor product to its popular Switch device will be made by March 2025. Sony Corp. shed 5% amid speculation over a potential buyout of Paramount Global by Pictures and the private equity firm Apollo Global Management. Hong Kong's Hang Seng index shed 0.7% to 18,354.11 and the Shanghai Composite index gave up 0.6%, falling to 3,129.65. P/ASX 200 edged 0.1% higher to 7,804.50, while the Kospi in South Korea rose 0.4% to 2,745.05. The S&P 500 edged 0.1% higher, to 5,187.70. The Dow Jones Industrial Average added 0.1%, to 38,884.26, and the Nasdaq composite slipped 0.1%, to 16,332.56. Kenvue rose 6.4% after topping analysts’ forecasts for both profit and revenue in the latest quarter. The Walt Disney Co. sank 9.5% despite reporting stronger results for its latest quarter than analysts expected. U.S. benchmark crude oil fell 48 cents to $77.90 per barrel. Brent crude oil, the international standard, declined 52 cents to $82.64 per barrel.

#StockMarket #AsianShares #WallStreet #Nikkei225 #Nintendo #Sony #HangSeng #ShanghaiComposite #Kospi #S&p500 #DowJonesIndustrialAverage #Nasdaq #Kenvue #WaltDisneyCo #CrudeOil

https://abcnews.go.com/US/wireStory/stock-market-today-asian-shares-mixed-after-calm-110016999


The American paradox of protest: Celebrated and condemned, welcomed and muzzled
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Protests, rallies, sit-ins, marches, and disruptions are hallmarks of American history. While Americans cherish the right to assemble and speak out, protests can also be met with irritation, condemnation, and opposition. Dissent is essential for democracy, but it must not lead to disorder. Protests have had an impact on public opinion, raising the visibility and salience of issues. Recent protests related to the Israel-Hamas war have faced opposition, with administrators and police calling for order and normal functioning. Disruption is seen as a necessary part of protest by some, while others believe demonstrations can be effective without blocking roadways or interrupting life. Campus protests have been criticized for descending into antisemitism and creating an unsafe atmosphere for Jewish students. The power of protest lies in impacting cultural conversations and altering the terms of debate. Protests have succeeded in changing the way people think about issues and putting them in the public consciousness.

#Protests #AmericanHistory #Dissent #PublicOpinion #IsraelhamasWar #CampusProtests #Antisemitism

https://abcnews.go.com/US/wireStory/american-paradox-protest-celebrated-condemned-welcomed-muzzled-109936545


Japan and India reject Biden's comments describing them as xenophobic countries
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Japan and India have rejected remarks made by U.S. President Joe Biden during a campaign fundraising event, where he described them as "xenophobic" countries that do not welcome immigrants. Japan stated that Biden's judgment was not based on an accurate understanding of its policy, while India defended itself as the world's most open society. Biden grouped Japan and India with Russia and China as struggling economies, contrasting them with the strength of the U.S. as a nation of immigrants. Both Japan and India are key U.S. allies and part of the Quad, a U.S.-led informal partnership to counter China in the Indo-Pacific. The White House clarified that Biden meant no offense and was emphasizing the U.S. as a nation of immigrants. Japan and India expressed disappointment with Biden's remarks but affirmed their strong relations with the U.S.

#Japan #India #JoeBiden #Xenophobia #Immigration #Quad #China

https://abcnews.go.com/US/wireStory/japan-india-reject-bidens-comments-describing-xenophobic-countries-109930971


Stock market today: Asian shares advance ahead of US jobs report
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Asian shares were mostly higher ahead of a report on the U.S. jobs market. Several major markets including Tokyo and Shanghai were closed for holidays. The Japanese yen strengthened slightly against the U.S. dollar amid signs of heavy central bank intervention. The financial newspaper Nihon Keizai Shimbun reported that estimates showed the government spending an estimated 8 trillion yen (about $50 billion) this week in trying to keep the yen from slipping further against the dollar. The weaker yen has helped boost prices for imported goods, a factor behind the Bank of Japan's recent decision to give up its negative interest rate policy and raise its benchmark rate to zero to 0.1% from a longstanding level of minus 0.1%. It might raise rates further, Marcel Thieliant of Capital Economics said in a commentary, even if its target of 2% isn't met. Hong Kong's Hang Seng jumped 1.7% to 18,518.64, tracking gains on Wall Street. News of fresh moves by Chinese leaders to energize the economy helped drive buying of technology shares. E-commerce giant Alibaba climbed 3.9% and rival JD.com was up 5%. Baidu advanced 4.2%. P/ASX 200 gained 0.6% to 7,629.00 and the Kospi in Seoul slipped 0.3% to 2,676.63. Taiwan's Taiex picked up 0.5%. India's Sensex shed 0.9% to 73,952.37. On Thursday, the S&P 500 rose 0.9% to 5,064.20, a day after swinging sharply when the Federal Reserve said it's likely delaying cuts to interest rates but not planning to hike them. The Dow Jones Industrial Average rose 0.9% to 38,225.66, and the Nasdaq composite jumped 1.5%, to 15,840.96. On Friday, the U.S. government will report on how many jobs employers added last month, one of the most highly anticipated economic updates each month. Economists expect it to show a slowdown in hiring. A report Thursday showed that fewer U.S. workers applied for unemployment benefits last week than economists expected. It’s the latest signal that the job market remains solid despite high interest rates. A separate, potentially more disappointing report suggested growth in how much U.S. workers produced per hour worked was weaker at the start of 2024 than economists expected. A measure comparing labor costs to productivity, meanwhile, rose by more than expected in the preliminary report. That could put upward pressure on inflation. Apple climbed 2.2% ahead of its profit report, which arrived after trading ended Thursday. DoorDash sank 10.3% after reporting a worse loss than expected, while Peloton Interactive swung from an early gain to a loss of 2.8% after it said it would cut roughly 400 jobs as part of a program to save $200 million in costs annually. It also said its CEO, Barry McCarthy, is stepping down. The company’s stock had fallen to a record low last week. In energy trading, U.S. benchmark crude oil gained 17 cents to $79.12 per barrel in electronic trading on the New York Mercantile Exchange. It lost 5 cents on Thursday. Brent crude, the international standard, added 18 cents to $83.85 per barrel.

https://abcnews.go.com/US/wireStory/stock-market-today-asian-shares-advance-ahead-us-109895607


Over 40% of Americans see China as an enemy, a Pew report shows. That's a five-year high
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A new Pew Research Center report shows that more than 40% of Americans now label China as an enemy, up from a quarter two years ago and reaching the highest level in five years. Half of Americans think of China as a competitor, and only 6% consider the country a partner. The Pew report, drawn from an April 1-7 survey of 3,600 U.S. adults, found that roughly half of Americans think limiting China’s power and influence should be a top U.S. foreign policy priority. About eight in 10 Americans have an unfavorable view of China, and 81% of U.S. adults see the country unfavorably. 42% of Americans say China is an enemy of the U.S., the highest level since 2021. The share is much larger among Republicans and Republican-leaning independents, with 59% of them describing China as an enemy, compared with 28% of Democrats and those leaning Democratic.

#China #PewResearchCenter #UschinaRelations #ForeignPolicy

https://abcnews.go.com/US/wireStory/40-americans-china-enemy-pew-report-shows-year-109842569


FTC bans noncompete agreements for many Americans but legal battle looms that would delay change
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The Federal Trade Commission (FTC) has voted to ban noncompete agreements, which could affect up to 30 million Americans. The ban, approved 3-2, aims to give workers the freedom to pursue new jobs, start businesses, or bring new ideas to market. Noncompete agreements are clauses in employment contracts that restrict employees from working for rival companies within a certain geographic area or time frame. The FTC rule will take effect in 120 days, but a legal battle is expected to delay its implementation. Pro-business groups, including the U.S. Chamber of Commerce, have opposed the ban and plan to sue the FTC. The AFL-CIO, the largest union organization in the U.S., supports the ban, stating that noncompete agreements trap workers, drive down wages, and stifle competition. The ban would apply to all workers entering new employment agreements, while existing agreements would become unenforceable. There is an exception for senior executives earning more than $151,164 per year. The FTC estimates that the ban could increase workers' combined wages by up to $488 billion over the next decade.

#Ftc #NoncompeteAgreements #EmploymentContracts #Workers #LegalBattle #UsChamberOfCommerce #Aflcio

https://abcnews.go.com/Politics/ftc-bans-noncompete-agreements-americans-legal-battle-looms/story?id=109546974


In race for his Senate seat, Joe Manchin endorses West Virginia Democratic Mayor Glenn Elliott
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Outgoing U.S. Sen. Joe Manchin has endorsed Wheeling Mayor Glenn Elliott in the Democratic primary race for his seat representing West Virginia. Manchin praised Elliott's record of creating jobs, lowering crime rates, and revitalizing downtown Wheeling. Manchin announced he would not run for reelection in 2024. Elliott, a lawyer and former legislative assistant to U.S. Sen. Robert Byrd, is running against Marine Corps veteran Zach Shrewsbury and ex-coal executive Don Blankenship for the Democratic nomination. The Democratic nominee will face either Republican Gov. Jim Justice or U.S. Rep. Alex Mooney in the general election. Elliott supports much of what President Joe Biden has done during his administration and believes that Washington often disregards West Virginians. Manchin was first elected to the Senate seat in 2010.

#JoeManchin #GlennElliott #WestVirginia #DemocraticPrimary #SenateSeat #Endorsement

https://abcnews.go.com/Politics/wireStory/race-senate-seat-joe-manchin-endorses-west-virginia-109487952


Modi is accused of using hate speech for calling Muslims 'infiltrators' at an Indian election rally
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India's main opposition party, the Congress party, has accused Prime Minister Narendra Modi of using hate speech after he called Muslims 'infiltrators' at a campaign rally in the state of Rajasthan. The remarks drew criticism for peddling anti-Muslim tropes, and the Congress party filed a complaint with the Election Commission of India, alleging that Modi broke rules that bar candidates from aggravating religious tensions. Critics argue that India's tradition of diversity and secularism has come under attack since Modi's Bharatiya Janata Party (BJP) came to power, accusing the party of fostering religious intolerance and violence. The BJP denies these accusations and claims that its policies benefit all Indians. The election results are expected to be announced on June 4. Modi's comments referred to a 2006 statement by then-Prime Minister Manmohan Singh of the Congress party, in which Singh said that India's disadvantaged groups, including the Muslim minority, deserved to share in the country's development equally. The Congress party also accused Modi and the BJP of repeatedly using religion and religious symbols in their election campaign, and called for action from the election commission. Modi's BJP has previously referred to Muslims as infiltrators and has made laws restricting interfaith marriage. Critics argue that Modi's silence on hate speech has emboldened his extreme supporters and enabled more hate speech against Muslims.

#India #NarendraModi #Muslims #HateSpeech #ElectionRally #CongressParty #Bjp #ReligiousTensions

https://abcnews.go.com/International/wireStory/indian-opposition-accuses-modi-hate-speech-after-calls-109522276


Pennsylvania's primary will cement Casey, McCormick as nominees in a battleground US Senate race
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Pennsylvania's primaries will determine the nominees for the high-stakes U.S. Senate race between Democratic Sen. Bob Casey and Republican challenger David McCormick. The race is expected to cost hundreds of millions of dollars and could help decide control of the Senate next year. Casey, seeking his fourth term, is a prominent figure in Pennsylvania's Democratic Party, while McCormick is a former hedge fund CEO who narrowly lost in the 2022 GOP primary. McCormick has consolidated party support and is backed by a super PAC that has raised over $20 million. The candidates have different positions on issues such as abortion rights, immigration, and national security. Democrats currently hold a narrow Senate majority and face a challenging 2024 Senate map. Pennsylvania's primary will also decide nominees for other statewide offices and congressional seats.

#Pennsylvania #Primary #UsSenateRace #BobCasey #DavidMccormick #DemocraticParty #RepublicanParty #SuperPac #AbortionRights #Immigration #NationalSecurity #SenateMajority #CongressionalSeats

https://abcnews.go.com/Politics/wireStory/pennsylvanias-primary-cement-casey-mccormick-nominees-battleground-us-109520195


Congress gets closer to forcing TikTok to be sold or face US ban: What's next
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The House of Representatives passed a $95 billion foreign aid package that includes legislation to force a sale of TikTok by its Chinese parent company, ByteDance. If the measure becomes law and the sale doesn't occur within a year, the app would be banned in the US. The Senate plans to take up the foreign aid package next week. TikTok has defended its data management and says it is not owned or controlled by any government or state entity. The TikTok measure could still be stripped out of the foreign aid legislation in the Senate. China has indicated it would oppose a forced sale of the app's technology. Many TikTokers oppose the legislation and have held demonstrations and signed open letters to President Joe Biden.

#Tiktok #UsBan #ForcedSale #Bytedance #DataManagement #ChineseGovernment

https://abcnews.go.com/Politics/tiktok-ban-senate-pass-legislation/story?id=109476142


Biden avoids a further Mideast spiral as Israel and Iran show restraint. But for how long?
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Israel and Iran have shown restraint, avoiding further escalation in the Middle East. President Joe Biden urged Israel to temper its response to Iran's attack and avoid violence. Iran's public response to Israeli strikes was muted. Biden's handling of foreign affairs has received negative appraisals from voters. Concerns about foreign policy issues are growing among Americans. Biden's approval ratings dropped after the withdrawal of U.S. troops from Afghanistan. The situation remains delicate as Israel and Hamas are far from reaching an agreement on a cease-fire. The Biden administration is holding Israel accountable while trying to provide humanitarian relief to Gaza. The future remains complicated and uncertain.

#Israel #Iran #MiddleEast #JoeBiden #ForeignPolicy

https://abcnews.go.com/US/wireStory/biden-avoids-mideast-spiral-israel-iran-show-restraint-109460599


Rep. Mike McCaul, Rep. Ro Khanna and Retired Justice Stephen Breyer Sunday On ‘This Week’ with Co-Anchor Jonathan Karl
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Rep. Mike McCaul, Rep. Ro Khanna, and Retired Justice Stephen Breyer will appear on 'This Week' with co-anchor Jonathan Karl. The episode will air on Sunday, April 21, 2024. Rep. Mike McCaul is the Foreign Affairs Committee Chair. Rep. Ro Khanna is also a guest. Retired Justice Stephen Breyer, author of 'Reading the Constitution: Why I Chose Pragmatism, Not Textualism,' will also be featured. The episode will include a segment on efforts to mobilize environmentally conscious voters in battleground Pennsylvania ahead of the 2024 election. The episode will also feature Donna Brazile, Reince Priebus, and Rachael Bade as part of the Powerhouse Roundtable. The show can be followed on Facebook and Twitter.

https://abcnews.go.com/Politics/rep-mike-mccaul-rep-ro-khanna-retired-justice/story?id=109436698