1. Stocks are expected to open higher after the president abandons support for piecewise stimuli
A man walks a dog in the shade from the midday sun past the New York Stock Exchange (NYSE) building in Manhattan during hot weather in New York City, New York, the United States, August 11, 2020.
Mike Segar | Reuters
Dow Futures pointed to it A gain of 200 points at the opening on Wednesday after the president Donald Trump Late Tuesday, Capitol Hill called for additional coronavirus relief to be approved in separate bills. Hours earlier he had broken off the conversation “until after the election” and the Dow Jones industry average Down 375 points, or 1.3%, at Tuesday’s close. The S&P 500 and Nasdaq lost 1.4% and 1.6% respectively. Tuesday is going back wiped out much of the strong gains made on Monday due to signs of Trump’s recovery from Covid-19 and growing optimism about more incentives.
2. Trump breaks off the conversation until after the election and negotiates via tweet
U.S. President Donald Trump speaks at the White House after returning from hospitalization at Walter Reed Medical Center for the Treatment of Coronavirus Disease (COVID-19) in Washington on October 5, 2020. This still image is from a video posted on Trump’s Twitter page.
@realDonaldTrump | via Reuters
The whip on suggestion, as spokesman for the house Nancy Pelosi and finance minister Steven Mnuchin were involved in resumed talks that began at 2:48 p.m. on Tuesday. ET when Trump, in a series of tweets, instructed White House officials to hold out negotiations with Democrats until after the election. He added, “Immediately after my victory, we will pass an important stimulus bill that will focus on hardworking Americans and small businesses.”
The 30-share Dow was up more than 200 points prior to these tweets. Both the S&P 500 and the Nasdaq had also been higher. Hours after the lower end, Trump went to Twitter at 9:54 p.m. ET, the House and Senate were due to approve $ 25 billion for airline payroll support and $ 135 billion for the Small Business Paycheck Protection program. “paid in full with unused funds” by the $ 2.2 trillion CARES Act Adopted into law at the end of March.
The president, at 10:18 p.m. ET, then tweeted he would sign a standalone bill to send another round of $ 1,200 stimulus checks direct to Americans. “Are you listening to Nancy?” he asked.
In a call to Democrats Earlier in the day, Pelosi questioned whether Trump’s Covid-19 steroid therapy could affect his decision-making, according to a source. “Believe me, there are people who have thought that steroids had an impact on the way you think. Well, I don’t know,” Pelosi said, according to the source.
3. Biden says the next debate should be stopped if Trump is still Covid-19 positive
U.S. Democratic presidential candidate Joe Biden boarded a plane as he exited Wilmington at New Castle Airport in New Castle, Delaware on October 6, 2020 on a campaign trip to Pennsylvania.
Kevin Lamarque | Reuters
Less than 24 hours after leaving Walter Reed National Military Medical Center, Trump said he was on Tuesday I’m looking forward to the next week Debate with the Democratic presidential candidate Joe Biden as planned. The president has been in an optimistic and reassuring tone over the past few days when speaking about his health and the severity of the global pandemic.
Biden said Tuesday the scheduled October 15th debate in Miami should be canceled if Trump was still infected with Covid-19. The former Vice President also described the coronavirus outbreak in the White House as a “very serious problem”. Stephen Miller, Senior Policy Adviser at the White House, was the last official to test the positive for Covid-19.
4. Pence and Harris are preparing to take the stage in just one vice presidential debate
The day before the Vice Presidential Debate between Republican Vice Presidential Candidate and U.S. Vice President Mike Pence and Democratic Vice Presidential Candidate and U.S. Senator Kamala Harris hang in Kingsbury Hall on the University of Utah campus in Salt Lake City, Utah, October 6, 2020 .
Jim Urquhart | Reuters
The first and only Vice Presidential Debate is set for Wednesday evening in Salt Lake City, with coronavirus mitigation measures, 27 days before the election. Vice President Mike Pence and Biden runmate Sen. Kamala Harris will be more than 12 feet apart on stage, separated by plexiglass barriers. Despite dating Trump and others who have since tested positive last week, Pence has repeatedly tested negative and does not need to be quarantined under CDC guidelines, according to the Vice President’s staff and doctors. Like Biden, Harris also tested negative for Covid-19.
5. House Democrats say big tech has “monopoly power” and recommend big changes
(COMBO) This combination of images, which was created on July 7, 2020, shows (LR) Facebook CEO Mark Zuckerberg on May 23, 2018 in Paris, Google CEO Sundar Pichai Berlin on January 22, 2019, Apple CEO Tim Cook on October 28, 2019 in Jeff Bezos, Founder and CEO of New York and Amazon, on June 6, 2019 in Las Vegas, Nevada.
After a 16-month investigation into competitive practices at Apple, Amazon, Facebook and Alphabet’s Google, the House of Representatives Antitrust Subcommittee, has published its findings and recommendations on how to reform the law for the digital age. The report has been completed that the four tech giants enjoy monopoly power, and it suggested that Congress incorporate changes to antitrust laws that could result in parts of their businesses being segregated. Republicans have objected to some of the bolder proposals in the report, such as the imposition of structural divisions.
– Associated Press and Reuters contributed to this report.