Yet really have a strategic plan. They have little pieces that are supported by some republicans and thats part of the difficulty. But were making progress. Answer President Trump gave an update on the legislation being negotiated on capitol hill. President trump hello, everybody. Thank you very much. Let me begin by sending americas deepest sympathies to the people of lebanon, where reports indicate that many, many people were killed. Hundreds more were very badly wounded in a large explosion in beirut. Our prayers go out to all the victims and their families. The United States stands ready to assist lebanon. We have a very Good Relationship with the people of lebanon and we will be there to help. It looks like a terrible attack. I also want to provide the latest on Tropical Storm isaias. Approximately 600,000 are without power along the east coast. And Utility Companies are working around the clock to restore service as quickly as possible. I spoke to governor cooper, i spoke to Gove
Record territory. A lot of good stuff in the markets. Well talk more about it. Fox Business Team coverage. Blake burman, Hillary Vaughn reporting from washington. All the talk about what the next stimulus looks like. Blake we start with you. Reporter connell, very public signal from President Trump and his administration, the next steps of negotiation will start to take place today, as we saw the president in the oval office on one side of him. The Vice President and the treasury secretary on the other side of him republican leadership. We heard the president say again he want as payroll tax cut. We heard Mitch Mcconnell say once again he wants Liability Protection for businesses. We heard the treasury secretary spell out other items on their wishlist. Well have tax credits that incentivize businesses to bring people back to work. Well have tax credits for pp e. For safe Work Environment and well have big incentives, money to the states, for education, for schools that can open safely.
Tested. This is promising news. The production says it proves that the production does not prove that it is effective but it is certainly a step forward. The final stage of the trial is scheduled to start july 27. This data coming out in the new england journal of medicine. It appears that moderna in the lead with its vaccine candidate, producing antibodies in all 45 of the patients tested. I mentioned we are standing by for President Trump. The press conference scheduled to start any moment now. We are told that the South China Sea and ongoing relations with china will be the focus along with potentially rising cases of covid19 across the country. Meantime, taking a look at how this impacted the markets. Volatility again the word of the day. I want to bring in abigail doolittle, who has been following all of this. Abigail volatility is certainly the word of the day and really the word of the last month. The s p 500 yesterday unable to take out its high after the februarymarch crash. S
An air blockade on the country increased military activity on the border between azerbaijan and armenia with casualties on both sides. And really well into the sports news and as saudi arabia tries to take over a premier league club. That announces that its canceling the license of one of the premier leagues Biggest Group calls parties be in sports details coming out this hour and billions reaction to. Chinese Telecommunications Giant huawei will be banned from the u. K. s 5 g. Network the move which is a major backtrack on the British Governments previous position were likely delay the rollout of the network by at least a year the ban follows sanctions imposed by the us which claims the company poses and National Security threat qua way denies this of the u. K. s mobile provide. Will not be able to buy any new huawei 5 g. Equipment after the september 31st they have also been given 7 years to remove all while away 5 g. Equipment presently in their systems 3 g. And 4 g. Equipment can s
Administer chinas takeover of hong kong. Blake burman is at the white house as we await the president s remarks. What are you hearing from the folks at the white house about what hell be telling us . Reporter the president will be making remarks about china upcoming at what is billed as a press conference from the rose garden which we expect to hear from the president moments from now. You mentioned that reuters report about hong kong and the autonomy act that was passed by congress. Keep in mind one thing on that, the president that was signed, or passed, rather, by both the house expect senate, overwhelming support. Earlier this month. Without getting too granular, the way that it works the president has to sign that into law or at least take action on that give or take within ten days. That puts the clock at about that time that the president would have to take some sort of action as today on the hong kong autonomy act which would call for sanctions on certain individuals that the p