Wednesday, August 22, 2018
Stock futures point lower as political storm surrounds former Trump allies
Stocks
may have a tough time advancing for a fifth session after a rough day
for President Trump following Paul Manafort’s conviction and Michael
Cohen’s guilty pleas.
Dow Jones futures were lower by 0.23%. The S&P 500 decline by 0.24% and the Nasdaq Composite was off 0.18%.
Former
Trump campaign chairman Paul Manafort was found guilty on eight charges
including tax fraud, and the president’s former lawyer Michael Cohen
said he violated campaign-finance law at President Trump’s direction.
U.S.
stocks on Tuesday closed higher for the fourth consecutive day, and the
broad-based S&P 500 index set an intraday record, as well as tying
its record for longest bull run.
The S&P’s
fresh record comes after second-quarter earnings season has basically
wrapped up, while some easing trade tensions also supported the markets
with China and the U.S. meeting to discuss trade after a tit-for-tat
tariff exchange.
During the day's trading
session, the S&P 500 topped its previous high of 2,872.87, which it
reached in January. However, that index slipped back slightly before the
markets closed.
Tuesday marked 3,452 days
since the index fell to a low of 666 on March 9, 2009 -- widely seen as
the low of the financial crisis -- tying its record for longest bull
market run
The Dow Jones Industrial Average
closed up 63 to 25,822.29, the S&P 500 ended 5.91 higher to 2,862.96
and the tech-heavy Nasdaq Composite added 38.17 to finish at 7,859.17.
Ticker | Security | Last | Change | %Chg |
---|---|---|---|---|
I:DJI | DOW JONES AVERAGES | 25822.29 | +63.60 | +0.25% |
SP500 | S&P 500 | 2862.96 | +5.91 | +0.21% |
I:COMP | NASDAQ COMPOSITE INDEX | 7859.173 | +38.17 | +0.49% |
Wednesday’s earnings agenda includes retailers Target and Lowe’s.
On the economic front, traders will get the latest existing home sales figures as well as the minutes from the last Fed meeting.
In Europe, London’s FTSE was down 0.10%, Germany’s DAX rose 0.22% and France’s CAC was higher by 0.17%.
In Asian markets, China’s Shanghai composite was down 0.7%.
Hong Kong’s Hang Seng ended the session up 0.65%.
Japan's Nikkei finished the day higher by 0.64%.
FOX Business' Mike Obel and Leia Klingel contributed to this article.
Billionaire Foster Friess defeated in Wyoming gubernatorial race despite last-minute Trump endorsement; Sen. Barrasso trounces wealthy challenger
Foster Friess, who put more than $2
million of his own money into his campaign, lost Tuesday in his bid to
be the GOP gubernatorial nominee in Wyoming.
(AP)
Wyoming state treasurer Mark Gordon won a fiercely contested GOP primary to replace term-limited Republican Gov. Matt Mead on Tuesday, prevailing over a billionaire businessman who received the last-minute endorsement of President Trump.
Foster Friess, the GOP megadonor who Trump tweeted would be "Strong on Crime, Borders & 2nd Amendment," is a major financial contributer to Christian causes, which analysts had predicted might help him secure Wyoming's religious votes in the race against Gordon and several other candidates.
Trump, who has aggressively campaigned nationally for various state candidates ahead of November's midterm elections, won the state by more than 40 points in the 2016 presidential race. His endorsement has carried significant weight in several primary races this year, helping to oust Rep. Mark Sanford in South Carolina in a stunning upset and keeping Rep. Martha Roby's candidacy alive in Alabama.
But it wasn't enough on Tuesday, as vote tallies showed Friess trailing Gordon by more than six percentage points with virtually all precincts reporting.
It was Wyoming's most contested governor's race since 2010, when Mead beat six others in the Republican primary, and was reported to be one of the most expensive ever conducted in state history. Friess put more than $2 million of his own money into the campaign.
Gordon, having served two terms, was the only Republican running with significant experience in government or elected office. The 61-year-old ranches near Buffalo, Wyoming, and served on the board of the Federal Reserve Bank of Kansas City.
He will face state Rep. Mary Throne, who won the Democratic primary Tuesday, in the general election. Wyoming is among the reddest states, and Gordon is favored to win the general election and become governor.
Gordon is finishing his first full term as treasurer, a job to which he was appointed in 2012.
Meanwhile, Sen. John Barrasso, a vocal supporter of President Trump, fended off a well-funded challenger in Wyoming's Republican primary Tuesday, soundly defeating Jackson Hole business investor Dave Dodson by more than thirty percentage points.
Dodson, who had tapped at least $1 million of his own funds in the race, had advocated for term limits and more action to bring down health care costs.
Barrasso for years has been one of the most outspoken advocates of repealing President Barack Obama's Affordable Care Act, an effort that fell just short of passing in the Senate last year.
Barrasso has served in the Senate since June 2007, when he was appointed following the death of Craig Thomas. Barrasso then won a special election in 2008 to complete Thomas' term.
Dodson sharply criticized Barrasso for taking corporate PAC money, though much of his own individual contributions — and Barrasso's — come from out of state.
There were three lesser-known candidates trying to win the Republican Senate race and in an unusual move, one of them bailed from the race Monday afternoon.
Wilson businessman Gary Trauner ran unopposed for the Democratic nomination for U.S. Senate.
Elsewhere in Wyoming, incumbent Liz Cheney won the Republican nomination for the state's lone seat in the U.S. House. Cheney beat two other Republicans in Tuesday's primary: Blake Stanley of Cheyenne and Rod Miller of Buford.
Stanley and Miller both characterized themselves as blue-collar conservatives and ran low-key campaigns.
Cheney is the elder daughter of former Vice President Dick Cheney.
Socialist Dem Ocasio-Cortez laments coffee shop's closure -- over wage hikes that she supports
New York Democratic socialist Alexandria Ocasio-Cortez portrays herself as "a normal, working person," but one of her positions may have helped 150 people lose their jobs.
After enduring mockery for declaring Sunday that a walk in a national park was an example of democratic socialism, Ocasio-Cortez lamented Monday the shutting down of an iconic New York coffee shop that closed mostly due to a higher minimum wage – which Ocasio-Cortez supported.
“The restaurant I used to work at is closing its doors. I swung by today to say hi one last time, and kid around with friends like old times,” the congressional candidate reminisced on Twitter. “I’m a normal, working person who chose to run for office, because I believe we can have a better future.”
The Coffee Shop in Union Square, which became especially famous after regularly appearing on HBO’s “Sex and the City,” will close down this fall after nearly 28 years in business. Co-owner and President Charles Milite announced the decision to shut the doors to its 150 employees last month.
But unlike what Ocasio-Cortez wants you to believe about the closing down, it wasn’t the result of greedy capitalists trying to squeeze the workers, but rather government regulations that forced the company to go bust.
“The times have changed in our industry,” Milite told the New York Post last month. “The rents are very high and now the minimum wage is going up and we have a huge number of employees.”
"The times have changed in our industry ... the rents are very high and now the minimum wage is going up and we have a huge number of employees."SOCIALIST CANDIDATE OCASIO-CORTEZ ONCE SAW HERSELF AS SMITHIAN CAPITALIST, VIEWEED FAMINISM AS ‘RELIC’
- The Coffee Shop in Union Square President Charles Milite
Ocasio-Cortez, who rose to prominence after defeating top Democrat Joe Crowley in the party’s primary election in June, has campaigned on the issue of minimum wage, arguing for a $15 federal minimum wage, up from $7.25, insisting that it won’t have any negative consequences for businesses.
During her appearance on “The Daily Show” with Trevor Noah, Ocasio-Cortez was pressed whether her suggestion of $15 minimum wage wouldn’t tank the economy. She cited the example of Seattle, which voted four years ago to gradually increase the hourly minimum to $15 over several years.
Yet Seattle is a troubling case, as research from the University of Washington's School of Public Policy and Governance found that the higher minimum wage led to significant job declines and actually left the poorest worst off in the city, the Washington Post reported.
The study estimated that low-wage jobs in the city dropped by 9 percent since 2016 and “hourly wages in such jobs increased by around 3 percent.” As a result, the study said, the city’s average worker lost $125 a month thanks to the minimum wage hike.
Mollie Tibbetts murder suspect Cristhian Rivera originally from Mexico, living in US illegally
The body of the missing University of Iowa college student Mollie Tibbetts was found bringing an end to the five week search. Murder suspect Cristhian Bathena Rivera was charged with first-degree murder. Here is a timeline of the events since her disappearance.
The suspect in the murder of Iowa college student Mollie Tibbetts is a 24-year-old illegal immigrant from Mexico who had been living in the area for up to seven years, officials revealed Tuesday.
Cristhian Bahena Rivera was apprehended more than a month after the 20-year-old University of Iowa student disappeared, Rick Rahn, special agent in charge with the Iowa Division of Criminal Investigation, said during a news conference. Tibbetts was last seen jogging on July 18 near Brooklyn, Iowa -- in Poweshiek County, where Rivera lives.
A body believed to be Mollie Tibbetts was discovered earlier Tuesday and Rivera led authorities to the location, Rahn said, adding that her body was found hidden in a corn field beneath several corn stalks.
Rivera was employed for the past four years at Yarrabee Farms, a dairy farm, the company confirmed in a statement to The Associated Press. The company said he was in good standing as a worker and was shocked to learn of his alleged involvement in Tibbetts' disappearance and murder.
The suspect told law enforcement he approached Tibbetts while she was running, Rahn said.
MOLLIE TIBBETTS MURDER SUSPECT ID’D AS CRISTHIAN RIVERA, 24, LIVING IN US ILLEGALLY
“He actually tells us that he ran alongside of her or behind her. And then at one point, he tells us that Mollie grabbed ahold of her phone and says 'you need to leave me alone, I'm gonna call the police,’” Rahn said of the interview. “And then she took off running, he, in turn, chased her down. And then he tells us that at some point in time he blacks out and then he comes to near an intersection in which we believe he then placed Mollie.”
Rivera revealed to investigators that he became angry when Tibbetts took out her cell phone, according to court documents obtained by The Associated Press. He told authorities that he panicked and “blocked” his memory.
The suspect claimed he didn’t remember what happened next but later realized that he’d put Tibbetts’ in his trunk after finding an earpiece from headphones in his lap, the documents said. He opened the trunk and noticed blood on the side of her head.
Investigators said they believed the suspect had been in the area for four to seven years.
“A first-degree murder charge was filed today in connection with the disappearance of Mollie Tibbetts, who was last seen jogging in Brooklyn, Iowa on July 18, 2018,” Rahn said. “A complaint and affidavit names Cristhian Bahena Rivera, age 24, who resides in rural Poweshiek County and he has been charged with murder in the first degree.”
MOLLIE TIBBETTS, UNIVERSITY OF IOWA STUDENT, FOUND DEAD: A TIMELINE OF EVENTS
After Rivera’s arrest, Immigration and Customs Enforcement (ICE) “lodged a detainer with the Poweshiek County Sheriff’s Office” on the suspect, who was described as “an illegal alien from Mexico,” the agency confirmed.
With the help of surveillance video obtained from someone living in the area, law enforcement was able to identify a vehicle belonging to the suspect, Rahn said. Investigators saw Tibbetts on the video and realized that Rivera “was one of the last ones to see Mollie running,” Rahn added.
Tuesday, August 21, 2018
GOP Sen. Grassley presses DHS, State Dept for info on 'disturbing' arrest of suspected ISIS killer in Sacramento
Senate Judiciary Committee Chairman Chuck Grassley, R-Iowa, on Monday pressed the Department of Homeland Security and the State Department for more information on the alleged ISIS killer arrested in northern California last week, asking how he could have been granted refugee status.
The FBI Joint Terrorism Task Force arrested Omar Ameen, 45, following an Iraqi warrant for his arrest and extradition request, officials said in a news release from the Justice Department. Ameen's refugee status was approved under an Obama-era resettlement program in June 2014.
But before arriving in the U.S. in November 2014, prosecutors say, Ameen went back to Iraq and killed a police officer while fighting for ISIS.
“We need to better understand how someone with ties to terrorism and wanted for murder could possibly be granted refugee status and allowed to enter American communities," Grassley wrote in a letter to Secretary of State Mike Pompeo and DHS Secretary Kirstjen Nielsen. "This disturbing case underscores the importance of thoroughly vetting refugees before granting admission to the United States."
SUSPECTED ISIS MEMBER CAPTURED IN SACRAMENTO
Grassley's letter set a Sept. 3 deadline for DHS officials to provide written information on Ameen's immigration history, relevant Visa Security Unit vetting documentation and all records about his travel into and out of the U.S.
The letter also requested that the State Department turn over information as to whether Ameen applied for a visa, whether he ever was denied a visa and why, as well as any additional administrative processing that his application received.
Ameen allegedly arrived in Rawah, Iraq, “with a caravan of ISIS vehicles," after the terror network gained control of the town on June 21, 2014, as the group made its way to the Rawah police officer's home, officials said. The following day, multiple ISIS members, including Ameen, allegedly shot the officer.
"This disturbing case underscores the importance of thoroughly vetting refugees."“Ameen then allegedly fired his weapon at the victim while the victim was on the ground, killing him,” officials said.
- Sen. Chuck Grassley, R-Iowa
The suspect is accused of being a member of ISIS and Al Qaeda in Iraq (AQI), as well as carrying out tasks for the groups, “including helping to plant improvised explosive devices,” according to the news release.
Following the alleged incident, Ameen relocated to Sacramento from Iraq “as a purported refugee” and did not mention his alleged ties to the terrorist organizations when seeking refugee status and a green card in the U.S., officials said.
Ameen also attempted to apply for refugee status in Turkey in 2012, according to Grassley, but "returned to Iraq to engage in terrorist activities while his application was pending."
"It’s difficult to judge what mistakes may have been made and what policy changes might be necessary to prevent it from happening again without more information,” Grassley added. “I’m grateful for the work of agents and officials at the FBI, the Justice Department and elsewhere who appropriately removed this potential threat, but I am concerned that an active member of two foreign terrorist organizations was able to conceal his past and slip into the United States undetected.”
Ameen could face the death penalty after he is extradited to Baghdad under a treaty the U.S. has with Iraq, court documents filed in the U.S. by Iraqi prosecutors say.
Trump to hold rally in West Virginia to support 'spectacular' AG Morrisey in upcoming US Senate race
President Trump announced late Monday that he would head to West Virginia to campaign on behalf of the “hardworking and spectacular” Attorney General Patrick Morrisey, who is hoping to flip the seat from Democratic challenger and incumbent Sen. Joe Manchin in the upcoming midterm elections.
Morrisey, who won the Republican primary, hopes to give the GOP a much-needed win in one of the top Senate battlegrounds as Democrats set the stage for a tough battle in November to regain control of the House.
“Will be going to the Great State of West Virginia on Tuesday Night to campaign & do a Rally Speech for a hard working and spectacular person, A.G. Patrick Morrisey, who is running for the U.S. Senate,” Trump tweeted. “Patrick has great Energy & Stamina-I need his VOTE to MAGA. Total Endorsement!"
Trump also reaffirmed his support of California’s GOP candidate for governor John Cox late Monday evening, who he says “will Make California Great Again.”
“I am hearing so many great things about the Republican Party’s California Gubernatorial Candidate, John Cox. He is a very successful businessman who is tired of high Taxes & Crime,” Trump tweeted.
Cox, who vowed to make the Golden State “livable and affordable” during an interview with Fox Business in June, will face Democratic Lt. Gov. Gavin Newsom, the former San Francisco mayor, in the November general election.
Trump predicted earlier this month that Republicans could ride a “giant Red Wave” into the November midterm elections spurred on by none other than the president himself.
“As long as I campaign and/or support Senate and House candidates (within reason), they will win! I LOVE the people, & they certainly seem to like the job I’m doing,” Trump tweeted. “If I find the time, in between China, Iran, the Economy and much more, which I must, we will have a giant Red Wave!”
Trump-backed Kansas Secretary of State Kris Kobach won the Republican primary for the state’s gubernatorial race, and candidates in three Missouri and Michigan races also won.
Republican state Sen. Troy Balderson, who also had the endorsement of the president, declared victory in Ohio's special election for a vacant House seat despite the race still being too close to call.
Democrats are widely seen as the favorites to reclaim control of the House, and are consistently leading in so-called “generic” congressional ballot polls – including districts that were once seen as solid red.
Despite coming up short in most of those races, Democratic leaders point out that the fact the races are competitive is a sign of Republican vulnerability in the fall.
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