Big rally bubbling up. Check out what happened to chinese tech stocks today as Congress Seems to be turning up the heat on china. Lets get to Kayla Tausche for the details. Melissa, the Holding Foreign Companies Accountable act technically applies to any nonu. S. Company listed here and it requires those companies to be subjected by the securities and Exchange Commission and if not to certify that it is not owned and controlled by a Foreign Government any company that cannot prove that would be dislisted. Here is john kennedy, the republican senator from louisiana who sponsored this bill i do not want to get into a new cold war all i want, and i think all the rest of us want is for china to mri by t play by the rules. Antichina sentiment has been gaining steam in recent years and it did not subside after the phase one trade deal was reached in january and this particular issue of transparency has gained new momentum after the fraudulent Financial Disclosures at Luckin Coffee just last
Latest kayla . Melissa, this effort by the white house to target social Media Companies for a perceived bias has been under way for nearly a year, but in the wake of twitters Fact Checking President Trumps own tweets, policy officials rushed the executive order out today. Heres what is in it which the president signed this afternoon. Agencies from the fcc to the ftc and many other agencies in between are directed to review liability shields that are provided to these content companies that protect them from lawsuits over what appears on their platforms. The department of justice are directed to organize state attorneys general to enforce the crackdown. The federal government is also going to be issuing a widespread review of taxpayer dollars that are going to these platforms in terms of the governments own ad spending and all of this is expected to happen over the next 30 days. These agencies are supposed to report back and these funding totals are supposed to be submitted to the offic
Suffering. The fed will use the full range of tools. Powell also saying that the actions are only part of a broader response. Powell also saying that the scope and speed of the downturn is without precedent. Andill hear from jay powell treasury secretary steven mnuchin, two people who right now appear to be working relatively handinhand. It is a big part of the reason why you are seeing risk assets rise as much as they have on a day like today. Moderna that a vaccine might be in the cards. Taylor i think the key takeaway is, yes, the market could be trading on economic data. There, but for the majority, this has been a health crisis. The markets were really hoping for a vaccine. It could be sooner than expected. We know that it also has the potential to not go through. All of the vaccines, the testing, that is really what has been driving these markets. When you see Something Like 900 points off of one study about potential vaccines, certainly ,omething that catches our eye a very big
Sentiment. Energy stocks higher now for the second day in a row. Thats as oil jumps to its highest level in nearly a month. Back near 30 a barrel whats going on there . Plus, texas reopening. Maybe that has something to do with it. Texas reopening restaurants and Retail Stores over the past week well talk to one restaurantur who owns about ten restaurants in texas looking forward to that. Thanks stocks are on track for their worst in two months. Even as we take a peak at green, positive territory. If you take a look, tyler mentioned a 270 point decline for the dow industrials. We are hover, there you have it. A new fresh intraday high as the dow is up 32 points. Its not a lot but all three sectors in the green they were all in the red at one point so far today take a look at energy. We mentioned those oil prices. Remember, focus on technology. Were marginally in red territory. A volatile session for the bond market on this friday after a record drop in retail sales. Lets get to rick fo
In light of the attack from the invisible enemy, as well as the need to protect the jobs of our Great American citizens, i will be signing an executive order to temporarily suspend immigration into the united states. So far the white house has not offered any more details. The pandemic has already been almost all of these put on hold now for weeks. President trump also said he is hoping the senate will vote tomorrow on a bill to replenish the Paycheck Protection Program to help struggling businesses. Those funds ran out last week. The new stimulus package is expected to provide another 310 billion in loans. As well as money for hospitals and virus testing. And an unheard of development as Oil Prices Fell into negative territory, as demand dries up it is causing a huge threat on oil and Storage Facilities around the world are at capacity. Marathon oil is closing its east bay refinery amid the historic plunge in prices. The data from San Jose Police reveals overall crime in the city is d