Investors bought stocks across the board Thursday, betting that the Republicans would keep control of the Senate. That, they figure, would block any big policy changes that could hurt corporate profits under a possible Joe Biden administration. The markets rose for the fourth straight day, with the S&P gaining 7% and the Nasdaq up nearly 9% during that span. Once again, tech stocks were among the leading climbers. Crossmark Global Investments chief market strategist Victoria Fernandez: “People are going back into tech stocks that perhaps they sold in order to avoid higher gains taxes that were potentially coming, and obviously, with healthcare without a Blue Wave, there’s the sense some healthcare stocks will continue to do better going forward.” Stocks got additional support from the Fed. The central bank again pledged to do whatever it takes to sustain an economy damaged by the health crisis. The Nasdaq spurted 2.6% higher. The Dow and S&P 500 each gained nearly 2%. Qualcomm jumped almost 13%, making it the top gainer on the S&P 500. The chipmaker forecast quarterly revenue that topped analysts’ estimates. The company, which invested heavily in 5G technology, said it sees strong growth for 5G smart phones next year. Materials was the day’s top performing sector, driven by shares of Linde. The industrial gas company hiked its full-year earnings forecast and said it plans to invest in hydrogen.
- Yahoo News
- The Independent
Educator says she wants to keep on teaching when Joe Biden becomes president
- Associated Press
- Yahoo News 360
The "ambitious" target for 2030 would see the UK move faster than any major economy, the PM says.
- Associated Press
- The Week
There appears to be growing support among Senate Republicans for a bipartisan coronavirus relief bill introduced earlier this week, reports The Washington Post.The $908 billion package — championed by moderate Sens. Mitt Romney (R-Utah), Susan Collins (D-Maine), and Joe Manchin (D-W.V.) — is in between what Democratic leadership is pushing for and what Senate Majority Leader Mitch McConnell (R-Ky.) has suggested. The moderates suggested an unemployment boost and money for state governments, but no stimulus checks.While McConnell on Thursday continued to resist the bipartisan bill, pushing instead for his version, which the White House has endorsed, other Republican senators got on board with the package. Sens. Joni Ernst (R-Iowa), Charles E. Grassley (R-Iowa), Lindsey Graham (R-S.C.), John Cornyn (R-Tex.), and Kevin Cramer (R-N.D.) signaled they were open to the bipartisan bill.Democratic leaders said they believed the $908 billion package should be the basis for negotiations. Several Republicans echoed that, saying it wasn't exactly what they wanted but it made for a good starting point.McConnell didn't comment directly on the bipartisan proposal, but instead urged lawmakers to pull the trigger on his version, which he called "a serious and highly targeted relief proposal including elements which we know the president is ready and willing to sign into law."More stories from theweek.com 5 absurdly funny cartoons about Trump's desperate fraud claims What Trump is doing isn't politics. It's something much worse. The Donald goes down to Georgia
- USA TODAY
Five executions are scheduled before Joe Biden, who opposes capital punishment, takes office. Ninety current and former law officials want a halt.
- Associated Press
- The Telegraph
- The Week
President-elect Joe Biden said when it comes to the Department of Justice, he is "not going to be telling them what they have to do and don't have to do."Biden and Vice President-elect Kamala Harris were interviewed by CNN's Jake Tapper on Thursday, and the discussion turned to reports that President Trump is contemplating preemptively pardoning his adult children, son-in-law Jared Kushner, and personal lawyer Rudy Giuliani. Biden said this "concerns me in terms of what kind of precedent it sets and how the rest of the world looks [at] us as a nation of laws and justice."Biden promised that he is "not going to be saying, 'Go prosecute A, B, or C,' I'm not going to be telling them. That's not the role, it's not my Justice Department, it's the people's Justice Department. So the persons or person I pick to run that department are going to be people who are going to have the independent capacity to decide who gets prosecuted, who doesn't."Harris, who once served as California's attorney general, added that the administration will assume that "any decision coming out of the Justice Department ... should be based on the law, it should not be influence by politics, period."More stories from theweek.com 5 absurdly funny cartoons about Trump's desperate fraud claims What Trump is doing isn't politics. It's something much worse. The Donald goes down to Georgia
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"No, I don't think it should be mandatory. I wouldn't demand that it be mandatory, but I will do everything in my power, just like I don't think masks have to be made mandatory nationwide... I will do everything in my power as the President of the United States to encourage people to do the right thing," Biden said. He added that in his inaugural speech he will ask Americans to commit for 100 days to wearing a mask, saying that wearing masks is 'not a political issue, it's become one.'
- The Daily Beast
While Kyle Rittenhouse awaits trial for killing two people at a Kenosha, Wisconsin, Black Lives Matter protest this summer, his lawyers are in prosecutors’ crosshairs.From the start of the high-profile case, Rittenhouse’s lawyers have attracted nearly as much attention as he has. Now, the 17-year-old’s main lawyer, John Pierce, is off the case, after prosecutors argued that fundraisers for Rittenhouse could act as a “slush fund” for the embattled attorney. Another prominent attorney who has associated himself with Rittenhouse, Lin Wood, also appears to have pivoted away from the case in order to focus his efforts on overturning President Donald Trump’s 2020 election loss.Rittenhouse was charged with reckless homicide after he fatally shot two people and wounded a third person at the August protest. He has pleaded not guilty and says he acted in self-defense.The Lawyer Raising Money for Kyle Rittenhouse Nearly Sank His Own Law FirmPierce and Wood emerged as Rittenhouse champions shortly after his arrest. Earlier this year, the pair had banded together to launch the “FightBack” foundation, an organization with a nebulous set of missions, many of them apparently litigating right-wing grievances with the media. Some of the foundation’s funds were redirected to Pierce’s own law firm.FightBack’s launch came at a fortunate moment for Pierce. The law firm he leads has been sued by at least four payday lenders and one legal services company this year, all of them alleging unpaid bills, The Daily Beast previously reported. In April, another lender accused the firm of owing them $65 million. The debts, plus an unspecified rehab stint for Pierce earlier this year, aligned with a recent exodus of more than 60 lawyers from Pierce’s firm.Pierce and Wood advertised the FightBack foundation as a way for Rittenhouse’s fans—of which there are many on the right—to donate money to his defense. But in a Thursday court appearance, prosecutors argued that the money stream could act as a “slush fund” to pay off Pierce’s debts.Pierce had no income and monthly expenses of $49,481, prosecutors alleged in a motion. He was also approximately $1.2 million in debt and was being sued for allegedly violating the rental agreement on his $1.3 million home.“This creates a potential conflict of interest for attorney Pierce,” the motion read, as reported by The Chicago Tribune. “Given his own substantial personal debts, his involvement with an unregulated and opaque ‘slush fund’ provides ample opportunity for self-dealing and fraud. The more that the Foundation raises in donations, the more he may personally benefit. Money that should be held in trust for the defendant may instead be used to repay attorney Pierce’s numerous creditors.”Pierce denied those allegations in an email to The Daily Beast. “The allegations you reference are ludicrous,” he wrote. “All of the funds are controlled by Kyle’s mother Wendy. In addition, I have no affiliation whatsoever with that foundation.” (In fact, Pierce was affiliated with FightBack until September, when he stepped down the day after a Daily Beast report revealing its contributions to his law firm.)Prosecutors also claimed Pierce had broken rules about attorney conduct, accusing him of potentially influencing future jurors with complaints about the district attorney overseeing the case. On Twitter, Pierce stoked ire against District Attorney Michael Graveley, claiming he was “in active (and weirdly familiar) texting communication with main BLM activist for six weeks prior to, during and after the riots.”This Gun Coffee Brand Was MAGA Royalty. Then It Turned on Kyle Rittenhouse. Pierce and another Rittenhouse defense attorney, Andrew Calderon, announced Thursday that they would withdraw from the case, shortly after prosecutors filed motions to disqualify them.Pierce told The Daily Beast that the withdrawal “was always the plan.”“Now that we have successfully gotten Kyle bailed out and have built an amazing criminal defense team in Wisconsin,” he said, “I am turning my attention to the massive tasks of preparing Kyle’s defamation and other civil claims as well as orchestrating our new fundraising efforts to ensure we have the resources to get through trial.”Those fundraising efforts might be in flux, however, as the FightBack foundation turns its attention from Rittenhouse and toward overturning Trump’s 2020 loss.“For the foreseeable future, FightBack will be focusing on exposing fraud in the November 3 election,” Wood tweeted last week. (He is currently involved in long-shot lawsuits challenging the election results, and peddled false voter fraud theories in a press conference this week.) “Going forward, anyone who wishes to make donations for Kyle should contact his criminal defense attorney, John Pierce.”Neither Wood nor Pierce answered questions on Friday about Pierce’s relationship with fundraising now that he is no longer Rittenhouse’s attorney.Wood’s tweet also signaled that he was pulling away from Rittenhouse’s case. “Lin has withdrawn from representing Kyle,” Pierce confirmed to The Daily Beast.Because Wood, who mostly handles defamation cases, was never officially Rittenhouse’s criminal attorney, his exact relationship with Rittenhouse’s legal team is unclear.“I am not and have never been a criminal lawyer for Kyle. I am a civil trial lawyer,” Wood told The Daily Beast. He added that Pierce was no longer associated with FightBack, which prosecutors had argued was a potential Pierce slush fund.“John Pierce is not affiliated with my foundation,” Wood said. “I understand Mark Richards is the criminal lawyer for Kyle in Wisconsin.”Richards, a Racine, Wisconsin, defense attorney confirmed that neither of the other two lawyers was representing Rittenhouse in the homicide case.“I am representing Kyle in th criminal matter atty’s pierce & wood are not,” he wrote The Daily Beast in an email. “We are very thankful for all the support from both individuals, the foundation & the prople who have donated.” [sic]Read more at The Daily Beast.Get our top stories in your inbox every day. Sign up now!Daily Beast Membership: Beast Inside goes deeper on the stories that matter to you. Learn more.
Firefighters battled to tame a wildfire on hillsides southeast of Los Angeles late on Thursday, some 24 hours after it broke out in a wooded canyon, apparently triggered by a faulty domestic generator. Two of some 500 firefighters deployed to control it had been hospitalized with injuries, the Orange County Fire Authority said on Twitter. The Bond Fire, named for the street in Silverado Canyon where it started, ignited late on Wednesday evening and was quickly whipped up by dry Santa Ana winds.
- Associated Press
Lebanon's Hezbollah said Friday it is suing a former Christian lawmaker and a website affiliated with a Christian political party for defamation, after they accused the Shiite militant group of being responsible for the devastating explosion at Beirut's port this summer. Hezbollah’s legal representative Ibrahim Mussawi said the accusations, leveled by Fares Souaid and the website of the right-wing Lebanese Forces party, were misleading. Mussawi, also a Hezbollah lawmaker, told a press conference outside the courts house that blaming the group threatens to disrupt social peace in Lebanon, at a time when the United States is exerting maximum pressure on his party and its allies.
- The Week
President Trump reportedly needs no encouragement to start praising the dangerous, baseless QAnon conspiracy theory.The most pressing matter for federal Republicans right now is the upcoming Senate runoffs in Georgia, which will determine control of the body. But in a meeting with advisers and top Senate Republicans about that matter, Trump totally derailed the conversation by bringing up QAnon, people familiar with the discussion tell The Washington Post.Trump is reportedly not thrilled with Georgia and that fact that it flipped for President-elect Joe Biden, and is publicly upset with Republican leaders in the state who haven't somehow overturned the election for him. So even though Republican advisers say Trump's help is "key to convincing his die-hard supporters to vote for Sens. Kelly Loeffler and David Perdue" in the January runoff election, the president isn't thrilled about doing so, the Post reports. "Advisers say he has been frustrated at how some GOP senators have criticized him," leading Trump to appear "disinterested" when discussing Senate campaign plans, the Post continues.That was clear in a recent meeting with Senate Majority Leader Mitch McConnell (R-Ky.), Sen. Todd C. Young (R-Ind.), and other aides. As they discussed Georgia's Senate races, Trump brought up the QAnon-supporting soon-to-be congressmember Marjorie Taylor Greene. Trump mispronounced the name of the group as "Q-an-uhn," and then said supporters of the theory that purports Democrats are a cannibalistic, pedophilic cabal "basically believe in good government," people familiar tell the Post. Everyone reportedly went silent until White House Chief of Staff Mark Meadows mentioned he had "never heard it described that way," the Post reports.Trump has been asked to denounce QAnon several times, but usually gives the theory his tacit approval instead.More stories from theweek.com 5 absurdly funny cartoons about Trump's desperate fraud claims What Trump is doing isn't politics. It's something much worse. The Donald goes down to Georgia
The once successful trade story now represents a worst case scenario of the bilateral tensions.