AFN News April 1

 

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. 

 4) South Dakota is opening up COVID-19 vaccination to anyone over the age of 16, starting on Monday. You’re listening to ABC News.

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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, invested in you.          

AFN News March 25

 

AFN NEWS

Thursday, March 25, 2021

1) From ABC News, I’m Daria Albinger. White House aides and congressional delegation toured a tent-like facility on the Texas border today for migrant teenage boys. Julissa Reynoso, assistant to the President and chief of staff to the first lady, “Essentially, the agency that manages the caretaking of children while we find their relative and/or guardian in the United States and assured that a person that is going to be accompanying that child is the proper person.” The President tapping Vice President Harris to lead the effort to stem the crisis at the border.” The President has tapped her with leading the administration’s effort and looking at root causes of migration from Central America, while people making a dangerous journey for Mexico and northern triangle countries and coming to the US southern border. The President acknowledged he has given Kamala Harris a tough job, he said. He’s still smiling but he feels confident that she is a right person to lead this.” ABC’s Karen Travers.

2) Sexual assault in the military, the focus of the Senate Armed Services Subcommittee hearing. “The DOD’s most recent survey estimated almost 21,000 service members were sexually assaulted in 2018. That makes them more likely to be raped by their fellow service members than shot by the enemy in war.” New York, Democrat Kirsten Gillibrand, the panel’s chair.

3) The U.S. women’s soccer team was at the White House on the Equal Pay Day. First Lady Dr. Jill Biden says it’s an issue which hits home for far too many women. “All these years later, there are women who are still in the exact same position. This is personal to me, because it’s personal to all women.” Equal Pay Day marks the day some most women must work to make the same amount their average male counterpart did last year.

4) Boulder, Colorado’s holding a procession to honor police officer Eric Talley, one of ten killed in this week’s supermarket shooting. You’re listening to ABC News.

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

Stocks losing steam into the close. Big tech companies fell with the Tec heavy Nasdaq falling 2%. The Dow falling 3 points, the Nasdaq down 266, S&P 500 down 21. Disney stocks fell 2%. The entertainment giant said it will be raising prices for Disney Plus streaming service for the first time by a dollar on March the 26th. And shares of movie theater operator AMC Entertainment continue to fall with its stock dropping over 15% after Disney said it was pushing back the release day of “Black Widow.” And drug maker Merck has promoted the 30-year company veteran to the role of finance chief. Caroline Litchfield will become its executive vice president and chief financial officer on April the 1st. Litchfield is currently the company’s treasurer and is set to succeed CFO Robert Davis, who will be taking over Merck’s president and chief executive.

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

AFN News March 18

 AFN NEWS

Thursday, March 18, 2021

 

1) From ABC News, I’m Chuck Sivertsen. Breaking news: arrested a man with a rifle near the official Vice President’s residence. ABC’s Andy Field in Washington. “Washington, D.C. police say they found 31-year-old Paul Murray outside the Vice President’s Naval Observatory official residence with a rifle and ammunition in his car. He traveled from San Antonio, Texas, not clear whether he intended to threaten Vice President Kamala Harris. If so, she wasn’t at home. The building’s undergoing renovations, while she and her husband stayed at Blair House across from the White House. Police said the man made no threat to Harris or her husband.”

 2) Eight counts of murder are now against 21-year-old Robert Long in connection with eight shooting deaths at Atlanta’s spas. Most victims were Asian women. Police say Long admits to the attack. He claims it was not racially motivated. “Many of the businesses around Young’s Asian Massage, Gold Spa and Aromatherapy Spa have security cameras. Images of the shooting suspect were quickly pushed out to the public. “And we were notified by his family who were fully cooperative and we are greatly appreciative of their assistance with this matter.” Sherriff Captain Jay Baker says Robert Aaron Long was captured after the police chased. Long, like his family is cooperating, telling investigators that the targeted businesses were a temptation that he wanted to eliminate. Jim Ryan, ABC News.

 3) For nearly four hours, Homeland Security Secretary Alejandro Mayorkas fielded questions from the House Committee about a surge of migrants at the southern border. “We have taken series of actions to address the increase of the number of unaccompanied children at the border. We have increased our capacity to hold the children until HHS can shelter them while it identifies and vets the children’s sponsors.” Mayorkas refused to call it crisis, saying other administrations have faced similar situations. Texas Governor Greg Abbott calls the Biden Administration ill-prepared.

4) A bill to reauthorize and update the Violence Against Women Act has passed the House, now goes to the Senate. You’re listening to ABC News.

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

The Dow and S&P 500 notching record closes after the Federal Reserve announced that it will be holding its short-term interest rates near 0% until 2023. Officials at the Central Bank also expect stronger economic growth, higher inflation and lower unemployment this year. The Dow rising 189 points, the Nasdaq up 54, S&P 500 up 11. And BMW’s planning for electric vehicles to account for 50% of sales by 2030 and launches latest EV model early as the race to match Tesla narrows among the European car makers. The German automaker also provided an upbeat forecast of profit increases in the year ahead. And South Korean tech giant Samsung Electronics raising concerns over the global chip shortage and warns of the serious imbalance in supply and demand. As a result, Samsung may delay the launch of the new Galaxy Note smartphone.

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

 

AFN News March 11

 AFN NEWS

Thursday, March 11, 2021

1) From ABC News, I’m Michelle Franzen. Fifty days into the term, President Biden is celebrating a huge victory, the House passing his $1.9 trillion COVID Rescue Plan without any Republican vote. “House Speaker Nancy Pelosi going after Republicans who said no. ‘It’s typical that they vote no and take the dough.’ Republican Leader Kevin McCarthy insisting Democrats wasted money. ‘It represents a missed opportunity for Congress to focus on the real needs of the American people.’ In fact, the bill helps millions of unemployment rents, school reopening, child poverty, business loans, and keeping first responders on the job. Andy Filed, ABC News, Washington.” Biden will sign the bill Friday.

 2) Today at the White House, he hosted the leaders of Johnson & Johnson and Merck and says the U.S. is adding another 100 million doses that will help vaccinate every American by the end of May. “There is real reason for help, folks. There’s real reason for hope. I promise you.” The next 50 days though could be just as challenging with variants emerging and states lifting more restrictions.

 3) Texas fully reopened today and the Governor ended the mask mandate. Houston bar owner Al Jara said it put him in a tight spot. “I don’t believe the onus should be on small business, I think, especially in the hospitality industry. Requiring us now to take a side on the masks isn’t right in my opinion.”

 4) New concerns: White supremacists plotting to infiltrate police and military unit. “Based on the investigation between 2016 and 2020, the FBI San Antonio division concluded in a document obtained by ABC News that extremists would very likely seek affiliation with military and law enforcement entities to further their ideologies. In a letter to the FBI, House Democrat Jamie Raskin said the bureau dismissed the threat when he asked about it last year. ‘They told us there was no real problem, and now it’s clear that there is.’ Raskin demanded a briefing from the FBI. ‘We want to know what the plan is. This is an emergency.” ABC’s Aaron Katersky. You’re listening to ABC News.

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I’m Connell McShane. This is the Fox Business Report.

Stocks finishing mixed and the Dow notching a record close, marking a milestone, closing above the 30,000 marks for the first time ever as the House approved President Biden’s near $2 trillion COVID spending bill. First aid assuring the consumer price index, a key inflation gauge rose 4/10 of a percent last month. That helped common investors’ concern that a sharp increase in inflation would prop the fed to tighten monetary policy. Among the gainers today, energy and financials while tech lagged. The Dow winners: Boeing, Golden Sachs, Walmart. The decliners: Microsoft, UnitedHealth, and Apple. Take a look at Wall Street by the numbers. The Dow finishing up 463 points, the Nasdaq down 5, while the S&P 500 closed up 23. Johnson & Johnson stocks jumping 1% today. Shares of Roblox, the kids gaming app, jumping 54%.

That’s your Fox Business Report. I’m Tom Graham, invested in you.

 

AFN News March 04

 AFN NEWS

Thursday, March 4, 2021

1) From ABC News, I’m Michelle Franzen. Security stepped up at the U.S. Capitol after a joint intelligence brief warned of a possible plot tomorrow by a militia group. It comes as Senate lawmakers are investigating what went wrong with security on January 6th. “It was just before 2:00 p.m. on January 6th when D.C. National Guard commanding General William Walker said he received a frantic call from the Capitol police. ‘His voice cracking with emotion indicated that there was a dire emergency.’ But Walker said approval to deploy did not come for more than three hours. The Defense Department Robert Salesses said the acting Defense Secretary called for all available forces sooner than that. ‘And ordered the full mobilization of the D.C. National Guard at 3:04 p.m.’ By the time the National Guard arrived, the riot was largely over. Aaron Katersky, ABC News, New York.”

 2) One American contractor died after another rocket attack in Iraq at a base housing American and coalition troops. “President Biden says it’s still not certain who launched this latest hit. ‘No one was killed by the rocket. One individual, a contractor, died of a heart attack. But we’re identifying who’s responsible and we’ll make judgments from that point.’ If another Iran-backed group fired that rocket, it will further hurt chances of the U.S. and Iran resuming nuclear talks.” Andy Field, ABC News, Washington.  

 3) Texas and Mississippi moving ahead to roll back mask mandates. The CDC Director Dr. Rochelle Walensky is urging Americans to keep wearing those masks. “Stamina has worn thin. Fatigue is winning, and the exact measures we have taken to stop the pandemic are now too often being flagrantly ignored.”

 4) For the first time since multiple sexual accusations surfaced, New York Governor Andrew Cuomo offered an apology but said he won’t step down. “I’ve never touched anyone inappropriately.” New York Attorney General is investigating the allegation. You’re listening to ABC News.

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I’m Connell McShane. This is the Fox Business Report.

Stocks finished its session low as another pickup in bond yields giving investors pause as the stimulus bill battle continues in Washington. The Nasdaq falling sharply as investors sold high-flying technology shares and pivoted to sectors viewed as more likely to benefit from an economic recovery. Financials, industrials, and energy companies were among the gainers. The Dow winners: Boeing, JPMorgan Chase, Goldman Sachs. The decliners: Apple, Microsoft, and Salesforce. Take a look at Wall Street by the numbers. The Dow down 119 points, the Nasdaq down 361, the S&P down 51. In the best sign yet of a recovery in the ride hailing space, Lyft saying it saw its largest volume of rides last week since March of 2020, even called it in the pandemic when it started to take hold. Walmart making major investment in U.S. manufacturing with the $300 billion commitment.

That’s your Fox Business Report. I’m Tom Graham, invested in you.