AFN News September 24

 

AFN NEWS

Thursday, September 24, 2020

1) From ABC News, I’m Daria Albinger. Police in Louisville, Kentucky, are telling protestors downtown to disperse. “__ state law this unlawful assembly, and we commend all personas __.” Demonstrators have been underway for hours after officials announced grand jury decision not to indict police officers on charges directly related to the death of Breonna Taylor. The only charges three counts of wanton engagement against fired officer Brett Hankison for shooting into a neighbor’s apartment. Protestor Mary Fray says she’s discouraged, “In my heart it doesn’t feel like there is any justice for Breonna, not because they’ve never brought up any murder charges. There are those two officers, they’re still on paid Medicare and I believe nothing is being brought up against them.” Mayor Greg Fisher says an internal police review is still underway. “LMPD is conducting a professional standard unit investigation to determine if any policies or procedures were violated by officers involved in the case. The chief of police will use that report to determine if any officers need further training or discipline.” A county-wide curfew will take effect 9:00 p.m.

 

2) Some made the trip from several states away and many waited in a line for hours. Mourners filing passed the casket of justice Ruth Bader Ginsburg lying in repose on the marvel steps of the Supreme Court. President Trump explaining why he wants Ginsburg’s successor confirmed before Election Day. In the White House cabinet room, “It’s very important that we have nine justices.” President Trump meaning state attorney’s general discussing law and order and voting rules, and his unproven claim. There will be widespread mailing voter fraud. “I think this will end up in the Supreme Court.” If it does, the post-election fights see who won could drag into December as it did in the case of Bush-vs-Gore. Andy Field, ABC News, Washington.  

 

3) Missouri Governor Mike Parson, a Republican who has refused to enact a mask mandate, is tested positive for COVID-19. You’re listening to ABC News.

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

Stocks ending sharply lower amid like a progress in Washington over additional pandemic aid and researching coronavirus cases. Big tech companies are among the laggers, dragging NASDAQ further into correction territory. The Dow falling 525 points, the Nasdaq up 331, S&P 500 down 79. // And Tesla’s Big Battery Day event didn’t give its investors much of the charge with its stocks falling 10%. CEO Elon Musk manufacturing production updates, but appears to be a few years out. // And Larid Superfood jumping out of the gate for its Wall Street debut. Its IPO was priced around 22 bucks a share with a stock closing up over 77%. // And GoodRx Holdings followed its prescription for strong initial public offerings. Shares of the prescription drug pricing app jumped more than 50% from the $33 IPO price.

That’s your Fox Business Report. I’m Hilarie Barsky, invested in you.

 

 

AFN News September 17

 

AFN NEWS

Thursday, September 17, 2020

 

1) From ABC News, I’m Chuck Sivertsen. Downgraded, but still a very dangerous tropical storm, Sally, in eastern Alabama and western Georgia was life-threatening, flooding in the Florida Panhandle and southern Alabama as well. Someone in Florida dealing with this. Many people who did not follow orders to evacuate, Escambia County Public Safety Director Jason Rogers, “As of 2:30 today, water rescue operations between the city and the county we have rescued 377 people from water-stricken areas.” Two hundred Florida National Guard members will be arriving tomorrow. Mobile, Alabama has implemented a city-wide curfew effected in about an hour.

 

2) President Trump again saying the U.S. is close to getting a COVID-19 vaccine. “We’re on track to deliver and distribute the vaccine in a very, very safe and effective manner. We think we can stock sometime in October.” CDC Director Robert Redfield telling a Senate panel something different. “If you ask me when it’s gonna be generally available to the American public, so we can begin to take advantage of vaccine to get back to our regular life, I think we’re probably looking at third, late second quarter, third quarter 2021.” Redfield also stressing that face masks are the single most important public health tool available.

 

3) Many areas of California still have schools and gyms closed but that could change soon as the state is announcing that the rate of spread has dropped dramatically in recent weeks. Only a few weeks ago, the positivity rate here was in the 8% range and now we’re looking at 3.6%. That is a huge drop, and it means counties like Orange County have been told that they can open up schools and gyms, and the places now restrictions released. Governor Gavin Newsom saying we are turning the corner on this rise in number. ABC’s Alex Stone.

 

4) On Wall Street, the Dow gained but the broader S&T, Nasdaq closed lower. You’re listening to ABC News.

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

Stocks finishing mixed after the Central Bank decided to keep short term interest rates unchanged and indicated they could remain near zero through 2023, said Chair Jerome Powell. “We now indicate that we expect it will be appropriate to maintain the current zero to 0.25% target range for the federal funds rates until labor market conditions have reached the levels consistent with the committee’s assessments of maximum employment.” The Dow rising 37 points, the NASDAQ down 140, S&P 500 down 16. // And shares of Eastman Kodak surged over 36% after a report by a law firm hired by the former photography giant said there was no evidence of insider trading by managements or major Kodak shareholders, ahead of the announcement of the potential $765 million government loan for a new drug ingredient business.

That’s your Fox Business Report. I’m Hilarie Barsky, invested in you.

 

AFN News September 10

 

AFN NEWS

Thursday, September 10, 2020

1) From ABC News, I’m Daria Albinger. Early in the COVID-19 pandemic, President Trump told the nation the virus was no worse than the seasonal flue, while a new book says he was saying something very different in private. Reporter Bob Woodward recorded the President last February saying he was downplaying the COVID threat and realized it was far more deadly than a flu despite publicly saying it wasn’t. His reason; “We don’t want to instill panic. We don’t want to jump up and down and start shouting that we have a problem.” In fact, the President referred to criticism of his handling of the virus as a hoax and slowed to order social distancing. Andy Field, ABC News, Washington.

 

2) Democratic nominee Joe Biden waded in from the campaign trail in Warren, Michigan, “He had the information, he knew how dangerous it was. And while this deadly disease ripped through our nation, he failed to do his job on purpose.” Woodward’s book entitled “Rage” is based on 18 interviews with the President. ABC News has obtained a copy of a whistleblower complaint which claims the White House sought to censor or manipulate intelligence for political purposes. The complaint which was filed by Brian Murphy, the former chief of intelligence for the Department of Homeland Security, says it was a case when it came to the Russian election interference, threat of white supremacist groups and statistics about terrorists crossing southern border.

 

3) There are dozens of wildfires that are burning across the Pacific northwest. Oregon Governor Kate Brown says they’re moving dangerously fast. “We expect to see a great deal of loss both in structures and in human lives. This could be the greatest loss of human lives and properties due to wildfire in our state history.” Evacuations are underway near Chico and Paradise in northern California where the Bear Fire has more back to rash. You’re listening to ABC News.

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

Stocks finishing higher, snapping a three-day selloff, driving Nasdaq into a collection at the fastest pace in history. The Dow rising 440 points, the Nasdaq up 294, S&P 500 up 67. // and TikTok, Chinese parent ByteDance is discussing with the U.S. government a possible arrangement that would allow the popular video-sharing app to avoid a full scale of the U.S. operations, according to the Wall Street Journal. // And J.C.Penney was receiving possible lifeline with the straggling department store chain, reaching a tentative deal to sells its business and stores to a group of mall owners and lenders in a move that would save the retailer from liquidation. The company disclosing during a bankruptcy hearing that it had struck the deal with Simon Property Group and Brookfield Property Partners in the group of bankruptcy lenders. The deal was expected to save more than 600 stores and 70,000 jobs.

That’s your Fox Business Report. I’m Hilarie Barsky, invested in you.

AFN News September 3,

AFN NEWS

Thursday, September 3, 2020

1) From ABC News, I’m Daria Albingwaher.

It wasn’t an historic day today on Wall Street. The Dow closed above 29,000 for the first time since the start of the pandemic. The Nasdaq called it a day about 12,000 for the first time ever, and the S&P 500 closed at an all-time high. Art Hogan at National Securities explaining why. “You know, at the very least, the really bad news is getting less bad and market tends to appreciate that.” But economists caution what happens on Wall Street isn’t always an indication of what’s going on in Washington. “By the end of the year, the amount of debt the U.S. owes will be just shy of 100 % of the nation’s gross domestic products. That is the highest level since the end of World War II. The reason; Congress spent trillions and didn’t have to make sure millions of pandemics. Furloughed Americans could even pay their rents. The Federal debt likely to balloon again with another round of congressional COVID stimulus money this fall, and no plan to pay it down.” ABC’s Andy Field in Washington.

2) House Speaker Nancy Pelosi’s blowout at a San Francisco salon is generating a lot of heat. It was a violation of California’s COVID-19 restrictions. “When they said, ‘We’re able to accommodate people one person at a time,’ and that we can set up that time, I trusted that. As it turns out, it was a setup.” And Nancy Pelosi wasn’t wearing a mask at the time.

4) World War II ended 75 years ago today. President Trump travelling to North Carolina to mark the event. “These brave Americans raced into the fires of hell to vanquish tyranny, dethrone fascism and defend the American way of life. You’ve earned the eternal and undying gratitude of all Americans, and that’s why I am here today.” And then he designated Wilmington as the first U.S. World War II heritage city. 

5) Democratic presidential nominee Joe Biden will head to Kenosha, Wisconsin tomorrow. He’s going to meet with the family of Jacob Blake while he is there. You’re listening to ABC News.

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

The major averages closing sharply higher with the NASDAQ and S&P 500 notching new record closes, following the report. The CDC is telling states to prepare for a coronavirus vaccine by November. The Dow rising 455 points and crossing the 29,000 mark for the first time since February. The NASDAQ up 117, S&P 500 up 54. // And United Airlines is slashing over 16,000 jobs when federal aid runs out this fall. Those in voluntary cuts, many of them furloughed, mean that staffers could be called back if the demand returns. // And it just hasn’t stopped in the sky, job cuts on the rail. U.S. passenger railroad Amtrak will furlough more than 2,000 workers as a result of the steep decline in travel demand from the pandemic. Amtrak says that ridership and revenue levels were down 95% year over year since the outbreak began.

That’s your Fox Business Report. I’m Hilarie Barsky, invested in you.