AFN News May 21

AFN NEWS

Thursday, May 21, 2020　

1) From ABC News, I’m Daria Albinger. As of today, all 50 states are taking some steps to lift COVID-19 restrictions. Connecticut is the last to allow some businesses to reopen today. Vice President Pence traveled to Florida to meet with tourism officials. “I really think Florida has set the pace. I mean, you have a large senior population here. And the way you’ve deployed testing, the way you implemented and echoed federal guidance is commendable.” The Vice President was not wearing a mask when he and local officials stopped for lunch at a burger joint.

2) In Orlando, Disney Retail and Dining Center at Disney Springs reopened today. Tomorrow Walt Disney World, Universal Orlando Resorts and SeaWorld will reveal their plans to reopening days to local officials. Disney is the parent company of ABC News.

3) New Jersey is expanding testing capacity. Governor Phil Murphy says residents can now get tested for Covid-19 outside sit in Walmarts. “New Jersey residents will be able to take a self-administered, self-swab Covid-19 test at seven Walmart locations.”

4) Tomorrow, religious services of ten people or less can resume across New York State. On Friday, Alaska will allow all businesses to reopen without restrictions.

5) A victory in court for the Trump administration. “Supreme Court Wednesday blocked the release of grand jury materials from the Russia investigation denying House Democrats for the second time this month, the ability to view information that, they believe, might show President Trump obstructed justice. The House Judiciary Committee, which requested the withheld material, Trump may have misled Mueller and written answers to the special counsel. The court will now decide early this summer whether to extend the hold. Adam Kelsey, ABC News, Washington.”

6) Thousands have evacuated in Midland, Michigan. Flood waters from two breached dams continue to rise. “Don’t let up. Don’t take it easy at this point in time. Don’t think we are done and we’ve passed the peak, because simply we are not in that point,” That’s City Manager Brad Kaye. That city could get up to 9 feet of water. You’re listening to ABC News.

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I’m Liz Claman and this is the Fox Business Report.

Stocks finishing higher on investors’ hope for global economic recovery. Minutes from the Federal Reserve’s most recent policy meeting shows that the central bank pledged to act as appropriate to support the economy until its snapback. The Dow rising 369 points, the NASDAQ up 191, S&P 500 up 49. // And shares of Facebook surging 6% to reach a new record high today on investors’ enthusiasm for the company’s new ecommerce platform called Facebook Shops and a similar program to launch later this year called Instagram Shops. // And Walmart shoppers can now order groceries along with electronics in the same purchase on the Walmart app for curbside pickup or delivery. The retailer has combined its Walmart grocery app with its main app to allow consumers to shop for items in multiple departments. The retail giant has also added more slots for grocery pickup and the ability to arrange for prescription refills and more. That’s your Fox Business Report. I’m Hilarie Barsky, invested in you.

AFN News 14

AFN NEWS

Thursday, May 14, 2020　

1) From ABC News, I’m Chuck Sivertsen. States are moving ahead with varying degrees of reopening. COVID-19 hospitalizations are declining in Louisiana. Governor John Bel Edwards says Phase One of reopening gets underway Friday. Bars conserve customers if they have a permit from the Health Department but they won’t be functioning as bars. “There are just some settings that are inherently more risky than others about transmission of the bars. Again bars are one of those and I get it unfortunate.” Also taking the next steps, it’s been almost two months that New Jersey has been effectively locked down. Now Governor Phil Murphy is ready to allow construction and reopen retail. “We can get small businesses back up and running in a manner that continues to protect both workers and shoppers.” That means curbside pickup only. “To be clear, no customers will be allowed back into nonessential retail stores at this time.” The change takes effect Monday morning. Aaron Katersky, ABC News, New York.

2) In hard-hit Massachusetts, next Monday is the expiration day for Governor Charlie Baker’s stay-at-home orders, no words of extension. “This isn’t gonna be a situation or a circumstance where on May 18 every business in Massachusetts that is currently closed is gonna be permitted to open. It’s not gonna work like that and it shouldn’t work like that.”

3) Working on a new stimulus bill totaling $2 trillion including direct payments to states and local governments, House Speaker Nancy Pelosi. Reaction to that from Senator Kevin Cramer, North Dakota, Republican. “The trillion dollars that the Speaker is presenting, uh, it’s unserious in my view because it represents basically how much all of the states collectively collect in the revenue year.”

4) A closely watched Southern California congressional race appears to be over. Democrat Christy Smith conceding to the 25th District contest to Trump-backed Republican Mike Garcia. Democrat Katie Hill resigned from the seat after admitting to an affair. You’re listening to ABC News.

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I’m Liz Claman and this is the Fox Business Report.

Stocks tumbling and closing in the red after Fed Chair Jerome Powell warns of a prolonged recession from the coronavirus pandemic. The Dow falling 517 points, the NASDAQ down 139 and its now in negative territory for the year, S&P 500 down 50. // And after the closing bell, Cisco Systems shares rising after the maker of network services, video conferencing tools and security software, reported better-than-expected earnings although revenue dropped 8% from last year’s quarter. // And GE certainly not bringing good things to life on Wall Street. Shares of the industrial conglomerate tumbling over 3.5% amid growing concerns over the troubled aerospace industry. GE started kicking the lowest level in more than 11 years in today trading. // And Rite Aid announcing a new partnership with Instacart which will allow customers to order and receive essential healthcare and grocery items delivered directly to their homes. That’s your Fox Business Report. I’m Hilarie Barsky, invested in you.

AFN News May 7

AFN NEWS

Thursday, May 7, 2020　

1) From ABC News, I’m Daria Albinger. Governors have been telling President Trump they need the federal government to help more with testing for COVID-19, especially if states begin to lift restrictions. White House Press Secretary Kayleigh McEnany says more isn’t necessary, better when it comes to testing. She says it must be strategic. “If we tested every single American in this country at this moment, we have to retest them an hour later and then an hour later after that, because at any moment you could theoretically contract this virus, so the notion is that everyone needs to be tested is just simply nonsensical. The people who need to be tested are vulnerable population.”

2) And the White House coronavirus taskforce won’t be phased down at the end of the month after all. President Trump says the group’s focus will shift to rebooting the economy and developing a vaccine. “I know we could wind it down sooner, but I had no idea how popular the taskforce is.” He says members will change as the crisis evolves.

3) Pharmaceutical giants are working to get potentially lifesaving COVID-19 treatments to the nation’s hardest-hit areas like Maryland. “Gilead has donated 1,600 doses of Remdesivir to the state of Maryland. This is the only drug proven in a clinical study to help with COVID-19.” Governor Larry Hogan also allowing elective medical procedures to resume tomorrow. Officials in Virginia are monitoring COVID-19 outbreaks in two poultry plants. “The National Guard regularly provides assistance in emergencies and this is the greatest emergency that we have seen in many years.” Governor Ralph Northam says the guard helping with testing in the plants in the surrounding community.

4) Uber is slamming the breaks on 3700 full-time jobs with fewer of us getting at needing rides. That’s about 14% of its workforce. Rival Lyft announced that it’s laying off a lot of workers, too.

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I’m Liz Claman and this is the Fox Business Report.

Stocks ending mixed as investors wait plants for the reopening of the economy against the latest batch of earnings reports, with the Dow falling 218 points, the NASDAQ up 45, S&P 500 down 20. // General Motors outlining plans for May 18th restart most of its North American plants shut down by the coronavirus pandemic. This has reported the stronger-than-expected quarterly profit with sales of its full-size pickups rising about 27% year over year. Shares of GM closing up 3%. // And after the closing bell, speaker maker Sonos reporting earnings with its losses more than doubling in the March quarter as the coronavirus outbreak forced the closure of its retail stores muting sales of its speakers. // And ride-sharing company Lyft bringing nearly $1 billion sales in mid pandemic, although the company posted $400 million loss for the first quarter but it’s actually an improvement from last year. That’s your Fox Business Report. I’m Hilarie Barsky, invested in you.

AFN News April 30

AFN NEWS

Thursday, April 30, 2020　

1) From ABC News, I’m Daria Albinger. The U.S. death toll from COVID-19 has now passed 60,000. That’s according to the ongoing tally by Johns Hopkins University. During the White House roundtable today with industry executives, President Trump was asked how long it might be until vaccine is readily available. “A lot of progress is being made on the vaccine, but you never know, right? You never know. You know with SARS they did not come up with a vaccine, and sometimes they don’t, and sometimes they do. I will say this. I don’t think there was the same effort.” Mr. Trump says the federal government will not extend its social distancing guidelines once they expire tomorrow.  

2) While the world waits for a vaccine, medical experts say a drug shows promise in treating COVID-19. Dr. Anthony Fauci on Wednesday touted the result of the trial, examining an experimental drug treatment for the coronavirus. A randomized, international trial of the drug Remdesivir has resulted in what Fauci called “quite good news,” shortening the period patients experienced symptoms, and potentially slightly reducing the mortality rate. “What it has proven is that a drug can block this virus.” Karen Travers, ABC News, Washington.

3) The news sent stock soaring, the Dow closing up more than 500 points. The Fed is holding on interest rates for now. “Federal Reserve’s response is guided by our mandate to promote maximum employment and stable prices for the American people, along with our responsibilities to promote the stability of the financial system. We’re also committed to using our full range of tools to support the economy in this challenging time.” Chair Jerome Powell.

4) It’s been sad that you can’t make everyone happy all of the time, and that is __ New York Governor Andrew Cuomo. “We have people last week protesting ‘cause they want to go back to work. This week we have people protesting ‘cause they don’t wanna go back to work. Yeah, welcome to America.” Cuomo says his sole focus is on continuing to flatten the curve.

5) Major League baseball is cancelling this July Hall of Fame induction. This year’s class will be inducted next year. You’re listening to ABC News.

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I’m Liz Claman and this is the Fox Business Report.

Stocks finishing higher following an encouraging report on a possible treatment for COVID-19 from Gilead Sciences, with the Dow rising 532 points, the NASDAQ up 307, S&P 500 up 76. The Federal Reserve announcing it’ll be holding interest rates unchanged in the range of nearly zero to a quarter of a percent and said that U.S. economy has worsened due to the pandemic and vowed to take aggressive action to support an eventual recovery. After the closing bell, Microsoft delivering earnings and revenue beating Wall Street expectations with the shares spiking in after-hours trading. The company reporting its third-quarter fiscal earnings said the coronavirus had minimal net impact on Microsoft revenue which reached around $35 billion. However, some of Microsoft core offerings including Azure cloud-computing business and Teams collaboration software are expected to fare well as Americans are working from home and their companies need computing power to support them. That’s your Fox Business Report. I’m Hilarie Barsky, invested in you.