Tuesday, April 13, 2021

Fact Check

“A new, independent study put out last week found that at least 55 of our largest corporations used various loopholes to pay zero federal...

A FedEx truck in Olive Branch, Miss. on Dec. 20, 2020. FedEx was one of 55 companies cited in a recent report as having...

The Facts on the Recommended J&J Vaccine ‘Pause’

Rishell of Cleveland Park receives the Johnson & Johnson COVID-19 vaccine from Heidi Johnson in Washington, D.C. (Photo By Tom Williams/CQ-Roll Call, Inc via...

Residents of New York state “pay the highest taxes in the nation.”

New York Gov. Andrew Cuomo takes his third oath of office, on Ellis Island in New York harbor, Tuesday, Jan. 1, 2019. (AP)Source link...

Black Lives Matter protest at Iowa Capitol was an “insurrection” like that on Jan. 6 at the U.S. Capitol.

U.S. Capitol Police push back rioters trying to enter the U.S. Capitol on Jan. 6, 2021. (AP)Source link

“We have encountered the largest surge of migrants (at the southern border) in the last 20 years.”

A migrant from Honduras seeking asylum in the U.S. stands in front of tents at the border crossing on March 1, 2021, in Tijuana,...

No, Ilhan Omar didn’t say that police shouldn’t exist because there are Jewish cops

If Your Time is shortThis claim appears to have originated in a self-described satirical blog post.See the sources for this fact-checkAmid the trial of...

US Politics
Latest

Almost all of New York’s House Democrats draw a hard line on state and local tax deductions

Every Empire State House Democrat except Rep. Alexandria Ocasio-Cortez and Kathleen Rice signed the letter, a copy of which was obtained by POLITICO. The group...

Suit seeks to reverse Trump changes to sea turtle protection

NEW ORLEANS (AP) — Conservation groups sued on Tuesday to reverse changes made under former President Donald Trump to rules protecting sea turtles, even...

NRSC raises $8.3M in March to cap $23M quarter

There had been some concerns about Republicans’ fundraising this year after the losses in the two Georgia runoffs and Scott’s vote, along with other...

Refugee families urge Biden to keep promise to up admissions

SAN DIEGO (AP) — The families of refugees and their supporters, including 124 elected officials, sent President Joe Biden a letter Tuesday urging him...

Michigan man who climbed Capitol wall charged in riot

DETROIT (AP) — A suburban Detroit man who climbed a wall at the U.S. Capitol became the seventh Michigan resident to be charged in...

LGBTQ

Tom Daley can’t stomach being a Harry Potter fan because of J.K. Rowling / LGBTQ Nation

Dustin Lance Black and husband Tom Daley (l)/J.K. RowlingPhoto: ShutterstockOut Olympic diver Tom Daley said in a recent interview that he can no longer...

How strongly does President Biden support LGBTQ rights? We asked the man who knows best. / LGBTQ Nation

Reggie Greer, the Biden campaign's LGBTQ+ engagement directorPhoto: Biden-Harris CampaignFor LGBTQ people, President Joe Biden’s inauguration meant more than the Democrats taking back the...

Brandi Carlile hid Ellen’s coming out episode on a tape labeled with her boyfriend’s name / LGBTQ Nation

Brandi Carlile performing in 2018Photo: Andy Witchger/via WikipediaOut lesbian musician Brandi Carlisle told Ellen DeGeneres that she recorded Ellen’s famous coming out episode when...

Tech

Muslim civil rights group sues Facebook over hate speech

A civil rights group is suing Facebook and its executives, saying CEO Mark Zuckerberg made “false and deceptive” statements to Congress when he said...

EXPLAINER: Courtroom technology on display in Chauvin trial

CHICAGO (AP) — The foundation of the case against the former Minneapolis police officer charged with killing George Floyd is a mountain of...

Asian markets follow Wall St lower after Fed bump

Must read

The Latest: NHL’s Canucks say 21 players tested positive

The Latest on the effects of the coronavirus outbreak on sports around the world:___The NHL’s Vancouver Canucks say 25 members of the organization have...

“A new, independent study put out last week found that at least 55 of our largest corporations used various loopholes to pay zero federal...

A FedEx truck in Olive Branch, Miss. on Dec. 20, 2020. FedEx was one of 55 companies cited in a recent report as having...

The Facts on the Recommended J&J Vaccine ‘Pause’

Rishell of Cleveland Park receives the Johnson & Johnson COVID-19 vaccine from Heidi Johnson in Washington, D.C. (Photo By Tom Williams/CQ-Roll Call, Inc via...

Almost all of New York’s House Democrats draw a hard line on state and local tax deductions

Every Empire State House Democrat except Rep. Alexandria Ocasio-Cortez and Kathleen Rice signed the letter, a copy of which was obtained by POLITICO. The group...

BEIJING (AP) — Asian stock markets followed Wall Street lower on Friday after rising U.S. bond yields dampened buying enthusiasm driven by the Federal Reserve’s promise of low interest rates.

Shanghai, Tokyo, Hong Kong and Sydney retreated.

Overnight, Wall Street’s benchmark S&P 500 index closed down 1.5%, putting it on track for its first weekly loss in three weeks. Stocks slipped after bond yields rose, which can prompt investors to shift money out of stocks.

A day earlier, the S&P 500 hit a new high after the Fed promised to keep its key interest rate near zero through 2023 even as it forecast inflation will pick up.

“The rapid rise in long-end U.S. yields has spooked investors,” Stephen Innes of Axi said in a report. The sell-off “caught some investors wrong-footed” after the Fed’s pledge, he said.

The Shanghai Composite Index sank 1% to 3,426.59 and the Nikkei 225 in Tokyo lost 0.8% to 29,961.75. The Hang Seng in Hong Kong retreated 1.4% to 29,015.89.

The Kospi in Seoul shed 1% to 3,035.47 while Sydney’s S&P-ASX 200 gave up 0.3% to 6,728.70. New Zealand retreated while Singapore gained.

Investors are swinging between hopes the rollout of coronavirus vaccines will allow global business and travel to resume and fears of possible inflation caused by government stimulus spending and easy credit.

The market’s pullback undercut some of Wednesday’s gains, when the S&P 500 and Dow hit all-time highs after the Federal Reserve said U.S. economic growth should rebound to 6.5% this year — the strongest since the 1980s — and inflation will climb above 2% for the first time in years.

Chairman Jerome Powell said the Fed will keep rates low even as inflation accelerates. Central banks usually try to restrain price rises by hiking rates. But Fed officials have said the U.S. economy will be allowed to “run hot” to avoid derailing a recovery.

Stocks fell back Thursday after the yield on the 10-year U.S. Treasury note, or the difference between its market price and the payout if held to maturity, widened to 1.72%, its highest since January 2020.

A higher yield can make bonds more attractive, drawing money out of stocks, especially high-priced tech giants that powered last year’s market rebound. Apple shares fell 3.4%, Microsoft lost 2.7% and Tesla slumped 6.9%.

The S&P 500 fell to 3,915.46. The Dow Jones Industrial Average lost 0.5% to 32,862.30. The Nasdaq slid 409.03 points to 13,116.17.

Bank stocks did well because investors bet higher interest rates would translate into higher profits. Wells Fargo rose 2.4%, Bank of America added 2.6% and JPMorgan Chase gained 1.7%.

Also Thursday, the Labor Department said the number of Americans who filed for unemployment benefits last week rose to 770,000, well above historic levels.

In energy markets, benchmark U.S. crude lost 6 cents to $60.00 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the basis for international oil prices, lost 1 cent to $63.27 per barrel in London.

The dollar edged down to 108.99 from Thursday’s 109.00. The euro declined to $1.1906 from $1.1915.

Source link

- Advertisement -

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article

The Latest: NHL’s Canucks say 21 players tested positive

The Latest on the effects of the coronavirus outbreak on sports around the world:___The NHL’s Vancouver Canucks say 25 members of the organization have...

“A new, independent study put out last week found that at least 55 of our largest corporations used various loopholes to pay zero federal...

A FedEx truck in Olive Branch, Miss. on Dec. 20, 2020. FedEx was one of 55 companies cited in a recent report as having...

The Facts on the Recommended J&J Vaccine ‘Pause’

Rishell of Cleveland Park receives the Johnson & Johnson COVID-19 vaccine from Heidi Johnson in Washington, D.C. (Photo By Tom Williams/CQ-Roll Call, Inc via...

Almost all of New York’s House Democrats draw a hard line on state and local tax deductions

Every Empire State House Democrat except Rep. Alexandria Ocasio-Cortez and Kathleen Rice signed the letter, a copy of which was obtained by POLITICO. The group...

Muslim civil rights group sues Facebook over hate speech

A civil rights group is suing Facebook and its executives, saying CEO Mark Zuckerberg made “false and deceptive” statements to Congress when he said...