The U.S. stock market extended its rally Friday after better than expected jobs data suggested that the impact of a partial government shutdown on the economy was largely overblown. Dow Surges Past Major Milestone All of Wall Street’s major indexes traded higher on Friday, reflecting a mostly upbeat pre-market for U.S. stock futures. The Dow Jones Industrial Average rose 166 points, or 0.7%, to 25,166.17. Shares of Exxon Mobil Corp (XOM) and Visa Inc. (V) led the Dow blue chips higher. The broad S&P 500 Index advanced 0.3% to 2,712.55, with seven of 11 primary sectors contributing to the gains.
Moody’s Investors Service warned Tuesday that the U.S. economy could suffer even worse damage from another government shutdown only three weeks after the record-breaking, month-long shutdown that concluded last week. The partial federal government shutdown that left 800,000 federal workers furloughed (or working without pay on essential government functions) concluded temporarily after President Donald Trump and congressional leaders agreed to fund the government for three weeks while negotiations between the two parties continue over Donald Trump’s request for a $ 5.7 billion border fence appropriation in the next spending bill. Moody’s Investors Service warned: The partial government shutdown had concentrated effects,
As U.S. federal workers set their alarms last night for the first time in over five weeks since the government shutdown, Trump already dampened their spirits. They may be going back to work today, but once the three-week government funding lapse passes, all bets are currently off. In an interview with the Wall Street Journal on Sunday, president Trump said that he honestly didn’t believe the delicate issue of immigration and funding for his wall could be decided upon in three weeks: “I personally think it’s less than 50-50.” Trump’s pessimistic comments will do little to sooth the 800,000 federal
The Trump administration reopened the government after a record 35 days, merely weeks after President Donald Trump heavily emphasized that the government would remain shut without funding for the border wall. Reports suggest that three major factors led President Trump to the brink and to ultimately put an end to the longest shutdown in the
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By CCN.com: Friday Donald Trump announced the government would reopen for three weeks, giving federal employees a reprieve from the month-long government shutdown, which has been the longest in history. It may be that the federal government’s credibility has been permanently damaged by the partisan dysfunction that left 800,000 federal employees without pay for a month
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After 35 days, the U.S. partial government shutdown may be finally coming to an end. According to the Drudge Report, President Donald Trump is planning to hold a press conference at 1:00 pm ET to elaborate on the details. Temporary Reprieve A new funding agreement to re-open the U.S. government will likely be announced after
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By CCN.com: The U.S. government shutdown has entered its 35th day. For five weeks, many industries have been paralyzed and federal workers are living on food stamps and soylent. It’s almost incomprehensible to anyone living outside the land of the plenty that the majority of its population lives from paycheck to paycheck. This is still
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By CCN.com: Morgan Stanley CEO James Gorman has expressed fears that the partial U.S. government shutdown could hurt the economy greatly if it drags on. Gorman was speaking in Davos, Switzerland at the World Economic Forum as the shutdown enters its 34th day. In an interview with the CNBC (video below), Gorman empathized with the 800,000
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By CCN.com: A GoFundMe campaign to assist federal workers affected by the ongoing government shutdown has reached its $ 200,000 funding goal barely three days after it was launched. Organized by GoFundMe CEO Rob Solomon in partnership with author and motivational speaker Deepak Chopra, the campaign was organised to help affected workers with basics like food
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The U.S. Securities and Exchange Commission (SEC) is due to make a decision on the Vaneck Solidx bitcoin ETF next month, and the deadline cannot be extended further. However, since the U.S. government is currently shut down, a securities lawyer explains what is likely to happen to the ETF, including the likelihood of an automatic approval.
ETF Could Be Automatically Approved
Jake Chervinsky, a lawyer who focuses on litigation involving securities, commodities, futures and other derivatives, explained in a series of tweets on Friday how the current U.S. government shutdown could affect the upcoming decision on the Vaneck Solidx bitcoin exchange-traded fund (ETF).
President Donald Trump has proposed extending protection for some illegal immigrants in the U.S. in exchange for wall funding along the Mexican border. The offer, which was announced Saturday after 4:00 p.m. ET, presents Congress with a new pathway to ending the longest government shutdown in U.S. history. A Presidential Compromise Speaking live from the
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Dan Schulman, the president and CEO of PayPal, said that the fintech giant would provide federal employees affected by the partial US government shutdown with an interest-free $ 500 line of credit. PayPal to Dole Out $ 25 Million in Interest-Free Cash Advances Schulman says the private sector is “in a position to help” the 800,000 federal
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New data reveals consumer confidence has plunged to its lowest level in two years. Historic data suggests the US stock market ignores government shutdowns. However, none have continued for so long, and falling consumer sentiment is a key indicator of an economic downturn. Ongoing Government Shutdown Will Affect the US Stock Market Consumer sentiment is
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U.S. federal government contractors could be losing up to $ 200 million in delayed or foregone revenue each day the shutdown drags on. In some cases, some contractors have completed work but their invoices can’t be processed as the responsible government agencies, departments or offices are closed. This is now beginning to be felt in the … Continued
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The Thai Ministry of Finance has rejected the last cryptocurrency exchange application it had been reviewing. The exchange, which has been ordered to close down business and return customer funds, is determined to stay operational. “Shutting down is not an option for us,” its chief strategy officer reportedly said.
Coin Asset Exchange Rejected
The Thai Securities and Exchange Commission (SEC) announced on Monday the outcome of the latest cryptocurrency exchange application it had been reviewing. The country’s Ministry of Finance, under the recommendation of the SEC board, decided to reject the application of Coin Asset Co. Ltd. to operate a crypto exchange.
United Airlines CEO Oscar Munoz says the partial US government shutdown has not had a significant financial impact yet, but warns that this could change dramatically if the furlough drags on much longer. “There is some impact there,” Munoz told CNBC Wednesday (Jan. 16). “It’s not discernible and it’s not significant. Clearly the longer this
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The federal government shutdown showdown of 2019 between Capitol Hill Democrats and President Donald Trump keeps setting records as it enters into its 26th day. The previous longest federal shutdown in U.S. history was the 1995-’96 face-off between Speaker Newt Gingrich (leading the first Republican House Majority in 40 years) and President Bill Clinton. That
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Canadian air traffic controllers showed support for their American peers who are working during the partial US government shutdown by sending them pizza. The Canadian Air Traffic Control Association units in Newfoundland and New Brunswick ordered 32 boxes of pizza for their counterparts in the New York Air Traffic Control Center in Long Island on Friday
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The partial US government shutdown is now affecting TLS certificates for some government websites. The websites of key branches of government like the Justice Department and the Court of Appeals are no longer secure or accessible, as first reported by Netcraft. The partial government shutdown affected their abilities to renew TLS certificates to keep their websites
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The first seven sessions of trading have delivered the best start to a year for the Dow Jones Industrial Average and other stock market indices since 2006. Government Shutdown Continues, But so Does Dow Rally 800,000 workers went without pay on Friday due to the ongoing government shutdown. It’s now the longest in history with
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