AFN NEWS
Thursday, April 1, 2021
1) From ABC News, I’m Daria Albinger. President Biden outlining his next major priority, a more than $2 trillion infrastructure plan to modernize roads, fix bridges and much more. “It’s big, yes. It’s bold, yes. And we can get it done.” He wants to pay for it by raising the corporate tax rates. “Fireman and teacher paying 22%. Amazon and 90 other major corporations paying zero in federal taxes. I’m gonna put an end to that.” Senate Minority Leader Mitch McConnell, it’s not fair. “We’ve reached a critical point here. And I hope we’re not beginning to engage in the habit of anytime we want to do something, call it a national emergency and run up the national debt.” House Speaker Nancy Pelosi would like to see the bill passed by July 4th.
2) More emotional testimony today in the trial of former Minneapolis police officer Derek Chauvin accused of murder and manslaughter by kneeling on the neck of George Floyd. “Testimony from Charles McMillian became very emotional. He was standing just feet from the squad car as officers attempted to get George Floyd inside the vehicle. He was also just feet away when Floyd ended up on the floor underneath the knee of Derek Chauvin. Prosecutors played back videos of the incident bringing McMillan into tears. "Oh, my God." The judge called a short recess to allow McMillan to compose himself. Mark Remillard, ABC News.”
3) ABC News has learned that Manhattan DA’s office subpoenaed the personal financial records of Trump organization CFO Allen Weisselberg. He is in a focus into an investigation of a financial dealing with the former president and his family and company.
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I’m Connell McShane. This is the Fox Business Report.
Stocks ending mixed on the last trading day of the month in quarter with major averages posting a 4th quarterly gain as investors digested the potential impact from President Biden’s infrastructure spending plan. Bank of America notes that the biggest beneficiaries will likely be industrial and material stocks. Tech companies were among the gainers today as jumping bond yield eased. The Dow falling 85 points, the Nasdaq up 201, S&P 500 up 14 for a record close. And payroll processing company ADP says there are 517,000 new jobs created by private employers this month. The biggest gains since September as reopening of the economy boosted the growth in the service sector. Microsoft stock rose nearly 2% after the software giant said it has won a deal to serve the U.S. Army augmented reality headsets. The contract could be worth up to $22 billion over ten years.
That’s your Fox Business Report. I’m Hilarie Barsky,
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