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Congress

AP News | Equities.com |

Stocks closed broadly higher on Wall Street Wednesday after President Donald Trump appeared to backtrack on his decision to halt talks on another rescue effort for the economy.

The S&P 500 climbed 1.7% after Trump sent a series of tweets late Tuesday saying he’s open to sending out $1,200 payments to Americans, as well as limited programs to prop up the airline industry and small businesses.

The tweets came just hours after Trump sent the market into a sudden tailspin with his declaration that his representatives should halt talks with Democrats on a broad stimulus effort for the economy until after the election, saying House Speaker Nancy Pelosi had been negotiating in bad faith.


Reuters | Equities.com |

A U.S. House of Representatives panel looking into abuses of market power by four of the biggest technology companies found they used “killer acquisitions” to smite rivals, charged exorbitant fees and forced small businesses into “oppressive” contracts in the name of profit.

The antitrust subcommittee of the Judiciary Committee recommended that Alphabet Inc's Google, Apple Inc, Amazon.com and Facebook should not both control and compete in related businesses, but stopped short of saying a specific company should be broken up.


Reuters | Equities.com |

House Speaker Nancy Pelosi on Friday asked airlines to put a hold on furloughs and firings, saying that agreement on a deal to provide another $25 billion in aid for the struggling sector was “imminent.”

American Airlines and United Airlines began laying off 32,000 workers this week after a deadline passed with no new help from Washington, but told staff they would reverse course if lawmakers reached a deal on COVID-19 relief.

But a final deal does not appear likely until next week after the House of Representatives failed to act on a request to unanimously pass a standalone measure to aid the airlines.


AP News | Equities.com |

It’s almost as if he’s writing a personal check.

In recent days, President Donald Trump has promised millions of Medicare recipients that — thanks to him — they’ll soon be getting an “incredible” $200 card in the mail to help them pay for prescriptions. He’s called himself “the best thing” that ever happened to Puerto Rico, while releasing long-stalled aid. Trump has also taken to showcasing the $28 billion he “gave to farmers hard hit by the trade war with China.


Reuters | Equities.com |

(Reuters) - The U.S. House Committee on Transportation and Infrastructure on Wednesday unanimously approved bipartisan legislation to reform the Federal Aviation Administration’s (FAA) aircraft certification process in the wake of two fatal Boeing 737 MAX crashes that killed 346 people.

Representative Peter DeFazio, who chairs the committee, said the House would vote on the sweeping reform measure later this year.

The Boeing 737 MAX has been grounded since March 2019. <...


David Nelson, CFA CMT | Equities.com |

We are just a few days from the end the third quarter as investors gear up for the next wave of earning's reports. Nothing has been normal about 2020 so don't expect October to be any different. The only image that comes to mind is Bizarro World the fictitious home planet of Bizarro Superman where bad is good, up is down and the world is square.

In 2020 that mindset translates into lower earnings = higher stock prices, deficits are better than surpluses and mountains of debt drive long ...


AP News | Equities.com |

House Democrats on Wednesday proposed a bill to curb presidential abuses, a pitch to voters weeks ahead of Election Day as they try to defeat President Donald Trump, capture the Senate from Republicans and keep their House majority.

The legislation, a wide-ranging package of new and revised bills, would limit the president’s pardon power, strengthen laws to ban presidents from receiving gifts or payments from foreign governments, better protect independent agency watchdogs and whistleblowers from firing or retribution and require better reporting by campaigns of foreign election interference.


AP News | Equities.com |

A House committee issued a scathing report Wednesday questioning whether Boeing and government regulators have recognized the problems that caused two deadly 737 Max jet crashes and whether either will be willing to make significant changes to fix them.

Staff members from the Democrat-controlled Transportation Committee blamed the crashes that killed 346 people on the “horrific culmination” of failed government oversight, design flaws and a lack of actio...


AP News | Equities.com |

Senate Democrats scuttled a scaled-back GOP coronavirus rescue package on Thursday as the parties argued to a standstill over the size and scope of the aid, likely ending hopes for coronavirus relief before the November election.

The mostly party-line vote capped weeks of wrangling that gave way to election-season political combat and name-calling over a fifth relief bill that all sides say they want but are unable to deliver. The bipartisa...


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Congress will launch an investigation into sexual assault, disappearances, deaths and the leadership’s response at Fort Hood after 28 soldiers stationed at the U.S. Army base in Texas died this year, two subcommittee leaders announced Tuesday.

Democratic Reps. Stephen Lynch of Massachusetts and Jackie Speier of California sent a letter to Army Secretary Ryan D. McCarthy requesting documents and information on the deaths. Lynch chairs the...