[NFA] President Donald Trump on Saturday nominated Amy Coney Barrett to the Supreme Court, and she pledged to become a justice in the mold of the late staunch conservative Antonin Scalia - another milestone in Trump's rightward shift of the top U.S. judicial body. Colette Luke has the latest.
Wall Street's main indexes hit their lowest in nearly seven weeks Monday as concerns about fresh coronavirus-driven lockdowns and the inability of Congress to agree on more fiscal stimulus raised fears about another hit to the domestic economy. Fred Katayama reports.
On Thursday, US stocks fell 320 points. The drop comes even as weekly jobless-claims data came in better than expected. Business Insider reports that weekly jobless claims fell by more than 30,000 from the previous week, to 860,000. Tech stocks led the decline. Investors continued to process Federal Reserve Chairman Jerome Powell's comments expressing uncertainty about the economic recovery. Powell also said the Fed didn't expect to raise interest rates until at least 2023.
On Thursday, US stocks sank in turbulent trading. Falling tech giants dragged on benchmark indexes. Tech names had rebounded on Wednesday. However, they resumed their downward spiral as investors shunned their still lofty valuations. Traders also mulled weekly jobless-claims data that signaled lasting pain in the US labor market. Jobless claims totaled 884,000 for the week that ended on Saturday, missing the economist estimate of 850,000.
US stocks climbed on Wednesday with the S&P 500 and Nasdaq composite extending records. According to Business Insider, both indexes closed at all-time highs on Tuesday. The rally was partly spurred by sectors that have underperformed in 2020, including utilities and financials. Traders are closely watching for signs that Congress will sign on for another pandemic stimulus bill soon. Treasury Secretary Steven Mnuchin on Tuesday encouraged Congress to pass stimulus measures.
Chairman of Congress Screening Committee for Bihar polls, Avinash Pande stated that the party is fully prepared to fight the elections on all 243 seats. "Congress is fully prepared to fight the elections on all 243 seats in Bihar Assembly. If we reach a 'respectable' understanding with Rashtriya Janata Dal (RJD), we will contest the elections with them," said Pande. The elections in the state will be held in 3 phases on October 28, November 3 and 7 and counting of votes will take place on November 10.
U.S. House Democrats will introduce a bill next week to limit the tenure of U.S. Supreme Court justices to 18 years from current lifetime appointments, in a bid to reduce partisan warring over vacancies. Colette Luke has the latest.
Congress leader, Akhilesh Singh commented on seat sharing in grand alliance ahead of Assembly elections in Bihar. "Things are not okay on that side (NDA) also, considering Chirag Paswan's statement. These things will continue as there is certain amount of bitterness during seat sharing. All parties in 'Mahagathbandhan' will get due share of seats, said Akhilesh Singh. He made this statement while replying on Upendra Kushwaha's statement on the seat sharing. The Chief of Rashtriya Lok Samta Party (RLSP) and former Union Minister, Upendra Kushwaha has said that the RLSP will remain in the grand alliance only if there is a change in the leadership of Rashtriya Janata Dal (RJD).The Election Commission had announced dates for Bihar Assembly elections. The elections in the state will be held in 3 phases on October 28, November 3 and 7 and counting of votes will take place on November 10.
Equity benchmark indices traded lower during early hours on September 22 while Asian markets opened weak after the sharp pullback overnight in US stocks. At 10:15 am, the BSE S-P Sensex was down by 301 points or 0.79 per cent at 37,733 while the Nifty 50 moved lower by 66 points or 0.59 per cent at 11,184. All sectoral indices at the National Stock Exchange were in the negative terrain with Nifty realty dipping by 4.6 per cent, PSU bank by 3.2 per cent, metal by 2.9 per cent and auto by 2.3 per cent. Among stocks, energy major GAIL was the top loser after sliding 4.9 per cent to Rs 83.85 per share. Adani Ports fell by 4.5 per cent and Tata Motors by 4 per cent. Tata Steel, Hindalco, ONGC, Bajaj Finance, Zee Entertainment and Bharti Infratel too traded lower by over 3 per cent. However, Tata Consultancy Services and ICICI Bank were in the green with thin margins. Meanwhile, Asian markets opened weak even after the sharp pullback overnight in US stocks. Investor sentiment took a hit with possible delays in expanded US stimulus. The undertone remained cautious as Europe sees some countries lockdown for the second time as COVID-19 cases jump which could hurt economic activity. Hong Kong shares of HSBC and Standard Chartered fell more than 2 per cent each as global banking stocks remained under intense pressure on reports about financial institutions allegedly moving illicit funds. MSCI's broadest index of Asia Pacific shares outside Japan was down by 0.5 per cent. Hong Kong's Hang Seng index was down by 0.5 per cent while Japanese markets were closed for a public holiday.
Credit: ANI Duration: 01:50Published
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