AFN News March 19

AFN NEWS

Thursday, March 19, 2020　

1) From ABC News, I’m Chuck Sivertsen. Fighting COVID-19. “We must make shared sacrifices, and that’s what we’re doing as a country.” President Trump says he’ll employ the Defense Production Act to overcome shortage of face masks, ventilators and other supplies. The President is also announcing that the U.S. and Canada agreed to close the border to all but essential travels. That is helpful for Americans as near. “A multi-million-dollar relief package to combat COVID-19 now heads to the President’s desk to sign into law after passing in the Senate. The bill includes paid sick leave, paid family leave, free coronavirus testing and expansion of food security programs like SNAP benefits. Democratic Senator Ed Markey says of the measure, “We need to activate our capable, intelligent domestic industry and bring the whole weight of the federal government behind this effort, __ __, ABC News, Washington.” *SNAP = Supplemental Nutrition Assistance Program

2) Republican senators said they expect the outlines of the third economic stimulus bill as early as tonight. Kroger says it’s hiring 10,000 additional workers across their supermarkets, manufacturing plants, distribution centers. Another steep Wall Street selloff, the Dow erasing almost all gains since President Trump’s 2017 inauguration, losing over 6%. Susan Schmidt, head of U.S. Equities at Aviva Investors, “It is very hard to know how the market will recover from that whether it will be a quick bounce back, short and shallow recession or it will be something more prolonged.” S&P 500’s slide was so sharp trading was halted for 15 minutes. It lost 5%.

3) They’re trying to get the Salt City Airport fully functional again that’s struck down after 5.7 magnitude earthquake. ABC’s Alex Stone. “The FAA is now bringing in a mobile control tower. It’s set up at the Salt City Airport in case controllers can’t get back into the main tower which still has to be cleared by structural engineers. Right now they’re working in limited ways using a secondary ramp tower, but commercial flights are landing and taking off again from Salt Lake City. The first to take off was a flight to Dallas-Fort Worth. You’re listening to ABC News.

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I’m Charles Payne and this is the Fox Business Report.

Stocks ending sharply lower with the Dow finishing below the 20,000 level for the first time since February of 2017. This as investors continue to dump stocks and other assets on worries over the economic impact of the coronavirus pandemic. And the New York Stock Exchange announcing it will be temporarily moving to fully electronic trading. The Dow falling 1,338 points, the NASDAQ down 345, S&P 500 down 131. // And the shares of FedEx surging to buck today sharp sell-off as quarterly revenue beating Wall Street estimates and a rebound in its China business, helping soothe Wall Street concerns over coronavirus related uncertainties. // And the world’s biggest furniture brand IKEA is closing all of its 50 stores in the U.S. and the Manhattan planning studio due to the coronavirus. That’s your Fox Business Report. I’m Hilarie Barsky, invested in you.

AFN News March 12

AFN NEWS

Thursday, March 12, 2020　

1) From ABC News, I’m Daria Albinger. The Bears have been sitting around Wall Street a lot lately and today they returned. Worries about coronavirus paired with the plunge in oil prices and questions about what the Fed will do about them caused the Dow to plunge nearly 1500 points, a drop of 20% from its all-time high last month. President Trump says financial institutions are ready to help consumers and businesses. “These are powerful institutions. They’re built up. They’re ready to go. And I know there will be helping their customers during the short time period.” The President speaks to the nation tonight.

2) The market just one reaction to what the World Health Organization is now calling a pandemic. “Pandemic is not a word to use lightly or carelessly. It’s a word that, if misused, can cause unreasonable fear or unjustified acceptance that the fight is over.”

3) The upcoming March Madness games will be played with just essential personal and limited family in attendance. The NBA’s Golden State Warriors will play games without fans in their arena until further notice. Nearly 120,000 people now testing positive to the virus, most cases still in mainland China, and the U.S. death toll is rising. “The number of dead in the U.S. is now up to 36. Four more deaths coming in the Washington State and one in Los Angeles County. Washington State is now reporting at least 366 confirmed cases of COVID-19. Globally the Chief of the World Health Organization saying he is alarmed by inaction around the world of countries not doing enough to stop the spread of the virus.” ABC’s Alex Stone.

4) Two U.S. service members among at least three people killed in a rocket attack in Iraq.

5) The Fed carrying out early morning raids across the nation today, targeting alleged members of the Jalisco New Generation cartel which controls up to two thirds in the U.S. drug market. You’re listening to ABC News.

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I’m Charles Payne and this is the Fox Business Report.

Another day of tumultuous trading on Wall Street with stocks dropping sharply as investors worry about the economic fallout from the coronavirus. The Dow tumbling and falling into bear market territory and declined at least 20% from its recent highs which were set on February the 12th. The Dow falling 1,465 points, the NASDAQ down 392, S&P 500 down 141. // And shares of Royal Caribbean and Norwegian Cruise Line once again taking a huge beating as investors remain skeptical about a fiscal stimulus package or targeted measures to aid the struggling industry. // And analysts say people lowering earnings estimates for restaurant companies on expectations that the coronavirus will create labor shortages and impact opening hours as it continues to spread across the U.S. That’s your Fox Business Report. I’m Hilarie Barsky, invested in you.

AFN News March 5

AFN NEWS

Thursday, March 5, 2020　

1) From ABC News, I’m Michelle Franzen. Joe Biden in California with the result of the state’s primary still being tallied. He’s taking a victory lap on Super Tuesday wins in ten states and looking ahead. “We have to put in a bigger, broader vision for this nation and make it happen, and but first, first we have to defeat Donald Trump.” Biden also picking up another endorsement Michael Bloomberg suspending his campaign today and says Biden has his full support. Meantime, Bernie Sanders in Vermont focusing on future primaries in battleground states saying he and Biden are now locked in a two-person race. “My guess is after California is thrown into the hopper, it’s gonna be pretty close. We may be up by a few. Biden may be up by a few, but I think we go forward basically neck and neck.”

2) Deaths in the U.S. due to the coronavirus have now risen to eleven, another in Washington State and California reporting its first death. ABC’s Alex Stone has details. “The death here in California was an elderly patient in Placer County outside of Sacramento. The persons, we’re told, got coronavirus were on a cruise from San Francisco to Mexico last month. They have been quarantined now that the person has died. Also Washington State is reporting another death bringing the total dead there to ten.”

3) House lawmakers are approving a bipartisan funding bill 8.3 billion to combat the coronavirus. The Senate votes tomorrow and medical labs working to streamline the testing process for Americans. “Vice President Mike Pence meeting with major U.S. testing lab CEOs saying the President’s made it easier for them to detect the coronavirus. ‘Any American that wants to be tested for the coronavirus on their doctor’s indications can be tested.’ The White House saying more than $8 billion congressional funding bill will help speed treatment drugs and vaccine. Andy Field, ABC News, Washington.”

4) Wall Street rebounding today. The Dow closing up more than 1100 points. You are listening to ABC News.

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I’m Maria Bartiromo and this is the Fox Business Report.

Stocks surging into the close as investors cheered growing signs of a coordinated response to the coronavirus by economies around the world and strong Super Tuesday performance by Joe Biden. Wall Street views Biden is more business friendly than Sanders. Among the gainers today; consumer staples, tech and healthcare companies. Wall Street analysts and investors have expressed concerns over Sander’s policy proposals regarding health care and large tech. Health insurance Anthem soaring over 15% for its largest one-day percentage increase since October of 2008. The Dow winners today; Apple, UnitedHealth and Home Depot. The Dow rising 1,173 points. It’s the second largest one-day point gain ever. The NASDAQ up 334, the S&P 500 up 127 points. It’s the second largest one-day point gain in history. That’s your Fox Business Report. I’m Hilarie Barsky, invested in you.

AFN News February 27

AFN NEWS

Thursday, February 27, 2020　

1) From ABC News, I’m Michelle Franzen. In Milwaukee, a shooting inside the MillerCoors brewing facility, local police tell ABC affiliate WISN that the suspect may be a fired employee and reporting that as many as seven may be dead including the gunman, but it’s not been independently  confirmed. ABC’s Ryan Burrow has the latest. “Milwaukee Police are not getting much information at this point other than that this is a critical incident. We know it’s located at the MillerCoors brewing facility. Their attention seems to be focused on Building No. 4 on the urban sprawling campus. There are multiple ambulances at the scene, dozens upon dozens of vehicles, we know the FBI says it is responding.” ABC’s Ryan Burrow.

2) Next hour, President Trump will belief the nation on efforts to combat the coronavirus. That is cases. The virus is spreading beyond China where the outbreak began in the part of Asia and Europe. ABC’s Katherine Faulders is in Washington. “The Trump Administration has responded to criticism with mixed messages insisting the threat was contained but has simultaneously acknowledged that more people inside the U.S. would likely turn up infected. The President has claimed the situation is, quote, under control and plans to hold a news conference this evening to address it.

3) A Federal appeals court backing the Trump Administration in the disputes of so-called sanctuary cities. The Second U.S. Circuit Court of Appeals here in New York said the Trump Administration could withhold millions of dollars in grants from cities that do not give federal immigration authorities advanced notice of an undocumented immigrants release from custody. A district court ordered the Administration to release the money after seven states and New York City sued. The Appellate Court said though the Federal Government has broad authority to enforce national immigration laws and policies, the ruling conflicts with other federal appeals courts that ruled in favor of the states. Aaron Katersky, ABC News, New York.

4) On Wall Street, stocks ending mixed after trading up for much of the day. Concerns over the global economic impact from the coronavirus driving further declines. The Dow losing 123 points. You’re listening to ABC News.

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I’m Maria Bartiromo and this is the Fox Business Report.

The major averages closing mixed with the Dow and S&P 500 suffering their fifth straight session of loses. The Dow giving up bigger gains as investors continued to assess the economic impact of the coronavirus. The Dow winners today; 3M, Apple and Microsoft. The Dow decliners; Disney, Chevron and American Express. The Dow closing down 124 points, losing nearly 7% so far this week. The NASDAQ up 15, S&P 500 down 12. // And not a good day on Wall Street for the Mouse House, shares of Disney closing down 3.5% after the media giant’s surprise move to replace top boss Bob Iger raised questions on Wall Street if his successor Bob Chapek had enough experience in the entertainment business. // And shares of home improvement retailer Lowe’s closing down 4% after reporting weaker-than-expected sales for its fourth quarter. That’s your Fox Business Report. I’m Hilarie Barsky, invested in you.