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.
