[NFA] U.S. House of Representatives Speaker Nancy Pelosi on Thursday said legislation to help airline companies survive the fallout could only move through Congress with guarantees that lawmakers will work on a more comprehensive aid bill to help the unemployed, small businesses and revenue-depleted state and local governments. Conway G. Gittens reports.
On Thursday, US stocks fell 320 points. The drop comes even as weekly jobless-claims data came in better than expected. Business Insider reports that weekly jobless claims fell by more than 30,000 from the previous week, to 860,000. Tech stocks led the decline. Investors continued to process Federal Reserve Chairman Jerome Powell's comments expressing uncertainty about the economic recovery. Powell also said the Fed didn't expect to raise interest rates until at least 2023.
Bharatiya Janata Party (BJP) celebrated its victory in LAHDC-Leh polls on Oct 26. The party won the majority of the seats and has got 15 out of 26 seats while Congress got 9 seats. BJP leader, Tsering Sandup who won from Panamik constituency said, "I would like to thanks voters and everyone others. This is the second time I won from Panamik constituency and I am thankful to all of them. I am very happy that people have chosen us because of our work."
The Federal Reserve is targeting above 2% inflation. Scott Minerd, Guggenheim global CIO told Bloomberg on Wednesday it is "virtually impossible" for the Fed to achieve that without creating a bubble in asset prices. "The reality is that the inefficiencies that are building up in the system." Minerd said misinformation and mistaken investments will pose a challenge to investors.
Equity benchmark indices traded lower during early hours on Thursday on the back of weak global cues after the US Federal Reserve indicated the interest rate could stay close to zero for years. At 10:15 am, the BSE S-P Sensex was down by 141 points or 0.36 per cent at 39,162 while the Nifty 50 lost by 39 points or 0.34 per cent at 11,565. Except for Nifty IT and pharma, all sectoral indices at the National Stock Exchange were in the negative terrain with Nifty private bank losing by 1 per cent and financial service by 0.9 per cent. Among stocks, ICICI Bank dropped by 1.3 per cent to Rs 369.85 per share while HDFC Bank lowered by 1 per cent. The other major losers were Hindalco, Tata Consultancy Services, Bajaj Auto and Tata Motors.However, HCL Technologies moved up by 2 per cent to Rs 811.20 per share and Tech Mahindra by 1.7 per cent. Dr Reddy's, Hero MotoCorp, Grasim and Asian Paints also traded with a positive bias.
Republicans Friday said they would push forward with Senate Judiciary Committee hearings on Trump's Supreme Court replacement, even after Trump tested positive for COVID-19 and went into isolation. Gavino Garay has more.
[NFA] Days after the first presidential debate, and the White House is still on the defensive about the president’s comments, or the lack thereof, over white supremacy. This report produced by Jonah Green.
Former chair of the US Federal Reserve Janet Yellen is on the same page as current Fed chair Jay Powell. Markets Insider reports Yellen echoes Powell, in that the Fed has 'already done a huge amount,'..
Fed Chair Jay Powell warned on Tuesday that the US economy would suffer if another stimulus package isn't passed, which remains stalled in Congress. House Democrats passed a $2.2 trillion stimulus plan..