Tuesday, March 3, 2020

Trump bullish on re-election, thanks ex-NFL player for encouragement


President Donald Trump appeared bullish on his re-election chances Monday night and took to Twitter to thank ex-NFL safety Jack Brewer for calling out his administration's support for black Americans.
Brewster, who appeared on "The Ingraham Angle," talked about how the administration gave HCBU (historically black colleges and universities) long-term funding and compared Trump to past presidencies.
"They made those black schools continue to come back and beg and beg for money," Brewer said.
The bill signed by Trump last December will provide over $250 million in annual funding for HBCU's -- after Congress had failed to renew it a few months earlier.
“Funding for HBCUs was in jeopardy. But the White House and Congress came together and reached a historic agreement," Trump said.
Brewer also attacked the criminal justice reform system during the Obama years, saying it "locked up and mass incarcerated millions and millions of black men" during his eight years as president and questioned, "how that could not upset Black America?"
"Donald Trump has passed more policies for black folks than any president since Lincoln," Brewer said.
Brewer played in the NFL from 2002 to 2006, serving mainly as a special teams player. He became a wealth manager with Merrill Lynch in 2007 after a short stint in the NFL.
He started the Jack Brewer Foundation in 2006 that "has helped populations around the world combat extreme poverty and human rights challenges," according to its website.

Trump attacks Federal Reserve’s Powell over coronavirus response


President Trump took aim early Tuesday at the Federal Reserve Chairman Jerome H. Powell over the central bank's refusal to cut interest rates similar to other countries to defend against any looming financial downturns threatening the global economy due to the coronavirus.
"Jerome Powell led Federal Reserve has called it wrong from day one," Trump tweeted. "SAD."
The president has been a vocal critic of Powell in the past and once asked who was a bigger enemy, the central bank leader or China's President Xi.
Powell recently said the U.S. economy is on sure footing, but stressed that the central bank stands ready to act if the coronavirus outbreak takes a turn.
"The fundamentals of the US economy remain strong," Powell said in a statement last week. "However, the coronavirus poses evolving risks to economic activity. The Federal Reserve is closely monitoring developments and their implications for the economic outlook. We will use our tools and act as appropriate to support the economy."
Goldman Sachs predicted that the Fed will likely cut rates by its next policy meeting later this month, MarketWatch reported. Economists from the company said they expect easing over the next several weeks and in a "coordinated fashion" with other countries.
Trump used the Reserve Bank of Australia in his tweet to illustrate the ways other countries are preparing to soften the financial blow of a global slowdown. The Wall Street Journal reported that Australia reduced interest rates by a quarter percentage point to 0.05%, a record low in the country.
Philip Lowe, the RBA’s governor, told the paper that the virus clouded the near-term outlook for the global economy, which means that growth will be lower than expected.
Christine Lagarde, the European Central Bank president, also reportedly warned about growth and said it stands ready to “take appropriate and targeted measures as necessary.”
The Dow Jones took a thrashing last week, but soared nearly 1,300 points on Monday.
Bill Nelson, chief economist at the Bank Policy Institute and a former Fed economist, said the Fed and other major central banks, possibly including China's, could announce coordinated rate cuts by Wednesday morning. The cut would at least be a half-point and perhaps even three-quarters, he said.
"The only way to get a positive market reaction is to deliver more than expected," he said.
The Associated Press contributed to this report

Trump deems Buttigieg, Klobuchar endorsing Biden a 'quid pro quo' deal


President Trump categorized former South Bend, Ind. Mayor Pete Buttigieg and Sen. Amy Klobuchar dropping out of the Democratic presidential race to subsequently endorse former Vice President Joe Biden a matter of “quid pro quo.” He then called for their impeachment.
“It’s being rigged now against Crazy Bernie,” Trump said. “I think Crazy Bernie is going to be even more crazy when he sees what they’re doing. I could have called it a long time ago.”
On Monday, Buttigieg, Klobuchar and former Rep. Beto O’Rourke of Texas, who dropped his bid for the presidency months ago, all formally endorsed Biden for the party’s nomination in Dallas.

Sen. Amy Klobuchar, D-Minn., endorses Democratic presidential candidate former Vice President Joe Biden at a campaign rally Monday, March 2, 2020 in Dallas. (AP Photo/Richard W. Rodriguez)
Sen. Amy Klobuchar, D-Minn., endorses Democratic presidential candidate former Vice President Joe Biden at a campaign rally Monday, March 2, 2020 in Dallas. (AP Photo/Richard W. Rodriguez)

“Mayor Pete … he cut out last night,” Trump said, addressing the crowd at Charlotte’s Bojangles Coliseum. “And then I hear a senator from that state we’re going to win. She dropped out,” he said, referencing Klobuchar, D-Minn., without mentioning her by name.
“They both supported “Sleepy Joe.” You know why? They made a deal!” he said.
“You know. Quid pro quo. That’s why,” Trump continued. “Quid quo pro. Impeach them! They should be impeached!”
Trump’s decree garnered laughter and applause from the crowd of Charlotte supporters.
He also mocked Biden for referring to Super Tuesday as “Super Thursday” in his most recent gaffe earlier this week before then dismissing former New York City Mayor Mike Bloomberg as “what a mess he is.”
“The Democratic Party has gone crazy,” Trump said. “They’ve embraced an extreme left-wing agenda. Their plans would massively raise our taxes, destroy our liberty, muzzle our faith and erase our sovereignty. You know that.”
Earlier in the day, Trump tweeted that "They are staging a coup against Bernie." He later accused Democrats of rigging the system against Sanders, the Democratic candidate currently with the highest number of delegates.
About 10,000 people attended the rally Monday night, according to the Charlotte Observer.
North Carolina, a perennial swing state, is among the 14 states, along with one territory and voters abroad, that will cast their ballots Tuesday, races that represent about a third of all Democratic delegates.
During the rally, Trump predicted Sen. Elizabeth Warren of Massachusetts, who he referred to as “Pocahontas,” would lose her home state to Sanders on Super Tuesday. He also threw his support behind Sen. Tom Tillis, R-N.C., for another six-year term.
According to Trump, Tillis introduced a bill that would allow the families of those killed by illegal immigrants to sue sanctuary cities and states for failing to honor ICE detainer requests.
Fox News' Andrew O'Reilly contributed to this report

O'Rourke endorses Biden at Dallas rally on eve of Super Tuesday, as ex-VP appears to offer gun-control role


In a surprise moment at the end of his Dallas rally on the eve of Super Tuesday, former Vice President Joe Biden called former Texas Rep. Beto O'Rourke up to the stage -- and vowed to put O'Rourke, who has said the government should forcibly seize assault rifles from Americans, in charge of gun-control efforts.
Also at the rally, Biden accepted the endorsements of onetime rivals Pete Buttigieg and Amy Klobuchar, as the Democratic party's moderate wing rallied behind Biden to challenge anti-establishment frontrunner and self-described "democratic socialist" Sen. Bernie Sanders, I-Vt.
"Ladies and gentlemen, tomorrow, March 3, 2020, I will be casting my ballot for Joe Biden," O'Rourke announced to applause at the rally's conclusion.
O'Rourke called President Trump an "existential threat" to "free and fair elections," and urged rallygoers to view Biden as the "antithesis of Donald Trump," someone who is "decent, kind, caring, and empathetic."
Biden, taking the microphone after O'Rourke spoke, then announced, "I want to make something clear -- I'm gonna guarantee you, this is not the last you're seeing of this guy -- you're gonna take care of the gun problem with me, you're gonna be the one who leads this effort. I'm counting on you, I'm counting on you, we need you badly."
O'Rourke has previously said he would like to seize all Americans' AR-15 assault rifles, promising: "Hell, yes, we're going to take your AR-15, your AK-47," at a Democratic primary debate last year, shortly before his campaign collapsed.
"Yikes," remarked Trump campaign spokesman Andrew Clark.
"Joe Biden promises Beto O'Rourke, who pushed for gun confiscation for legal gun owners, will 'be the one who leads' his gun control effort," observed GOP Rapid Response Director Steve Guest. "2020 Democrats are unambiguous about their anti-Second Amendment agenda."
Wrote NBC News' Benjy Sarlin: "Biden hugging Beto going 'You’re going to take care of the gun problem for me!' is a thing you will see in a Republican ad someday."
The moment was yet another headache for Biden as he struggles to appeal to gun owners. Last week, he bizarrely declared that "150 million" Americans -- approximately half the country -- had died due to gun violence since 2007.
Separately, Biden spent most of his time attacking President Trump, rather than his remaining rivals Elizabeth Warren, Sanders and Mike Bloomberg.
After Sen. Klobuchar, D-Minn., spoke earlier in the rally, Biden immediately sought to draw a contrast between her and Trump, saying the White House entirely lacks "empathy and decency."

Democratic presidential candidate former Vice President Joe Biden speaks after former Texas Rep. Beto O'Rourke endorsed him at a campaign rally Monday, March 2, 2020 in Dallas. (AP Photo/Richard W. Rodriguez)
Democratic presidential candidate former Vice President Joe Biden speaks after former Texas Rep. Beto O'Rourke endorsed him at a campaign rally Monday, March 2, 2020 in Dallas. (AP Photo/Richard W. Rodriguez)

"Folks, I knew -- I believed that he wasn't going to be a very good president," Biden said. "But I have to admit to you that Donald Trump, well, I didn't have any idea how much it was always going to be about Donald Trump. It's having a corrosive impact. It's having a corrosive impact on our children."
Biden continued: "The days of Donald Trump's divisiveness will soon be over. Folks, there's two ways people get inspired. They get inspired by great leaders like Lincoln and Roosevelt and Kennedy and Obama, but they also get inspired by very bad leaders. No, I really mean it. This president has sort of ripped the band-aid off, exposed just how venal he's become, and how he has literally strangled the life out of the Republican Party."
"You're gonna take care of the gun problem with me."
— Joe Biden to Beto O'Rourke
At the same time, in Minnesota, Sanders and top surrogate Democratic Rep. Ilhan Omar were rallying a boisterous crowd at a competing rally. Within hours, 14 states and one U.S. territory will head to the polls in contests that will award a whopping one-third of total delegates to the Democratic National Convention.
"It looks like St. Paul is ready for a political revolution," Sanders said to cheers.

Sen. Amy Klobuchar, D-Minn., endorses Democratic presidential candidate former Vice President Joe Biden at a campaign rally Monday, March 2, 2020 in Dallas. (AP Photo/Richard W. Rodriguez)
Sen. Amy Klobuchar, D-Minn., endorses Democratic presidential candidate former Vice President Joe Biden at a campaign rally Monday, March 2, 2020 in Dallas. (AP Photo/Richard W. Rodriguez)

At the rally in delegate-rich Texas, however, Biden and his new supporters argued that most voters want "evolution" and not a drastic change. Buoyed by his emphatic victory in Saturday's South Carolina primary, Biden has argued he's the only candidate who can realistically win over minority support and defeat Trump.
Klobuchar, who formally suspended her campaign earlier Monday, declared that Biden was the only sensible choice for voters who feel "tired of the noise and the nonsense" of today's politics.
"How great is it to be here in Dallas, Texas?" Klobuchar asked. "And how great it is to be here with my family. ... And with Vice President Biden! And how wonderful it is to be standing next to him on a stage when it isn't the debate stage?" (Biden later joked that Klobuchar had "won all the debates.")
It's time, Klobuchar said, for Americans to "join hands instead of pointing fingers."
"We need to unite our party and our country, and to do it not just with our words but with our actions," Klobuchar continued. "It is up to us, all of us, to put our country back together, to heal this country, and then to build something even greater. I believe we can do this together. And that is why, today, I am ending my campaign and endorsing Joe Biden for president."
Klobuchar and Biden then hugged as cheers of "Let's go, Joe!" broke out. Later, Klobuchar noted that Minnesota was also voting on Tuesday, and urged voters there to support Biden as well, amid concerns that her sudden withdrawal might actually help Sanders win the state.
Biden went on to thank Buttigieg for his endorsement earlier in the day as well. Speaking to supporters, Biden said Pete reminded him of his late son Beau during the debates -- a compliment Biden then falsely said he had not made before about any other politician.
"I’m looking for a leader, I’m looking for a president, who will draw out what’s best in each of us,” Buttigieg, who ended his campaign Sunday, told reporters prior to the rally. “We have found that leader in vice president, soon-to-be president, Joe Biden.”
In Minnesota, Sanders praised both Buttigieg and Klobuchar even as the two were in Texas to boost Biden.
"Tonight, I want to open the door to Amy's supporters, to Pete's supporters," he said. "I know there are political differences, but I also know that virtually all of Amy's supporters and Pete's supporters understand that we've got to move toward a government that believes in justice, not greed."
"I’ve known Amy for a very long time, and she is one of the hardest workers I know," Sanders said of Klobuchar before going on to call Buttigieg's campaign "historic" and "brave," noting that Buttigieg would have been the first openly gay president.
Biden currently trails Sanders by just eight pledged delegates (56 to 48) in the race to get the 1,991 necessary to secure the Democratic party's nomination at this summer's convention in Milwaukee. Party leaders had feared that the splintering moderate vote would allow Sanders to rack up victories in a series of high-stakes Super Tuesday contests and possibly gain an insurmountable advantage in the delegate count.
However, former New York City Mayor Michael Bloomberg has resisted calls to clear the path for Biden, predicting Monday that Democrats would have a contested convention.
"The most likely scenario for the Democratic Party is no one has a majority -- it goes to a convention where there's horse-trading; there's compromise," Bloomberg said at a Fox News town hall in Manassas, Va., one of the states where voters will head to the polls Tuesday. "It doesn't even have to be the leading candidate; it could be the one with a smaller number of delegates."
Despite his endorsements and win by a massive margin in South Carolina's primary on Saturday, Biden remains vulnerable on a variety of fronts, including his repeated gaffes. On Monday, he slipped up twice during an earlier rally -- at one point, badly garbling the Declaration of Independence before giving up, and at another, saying "Super Thursday" was coming up.
And, although the Biden campaign reported back-to-back days of $5 million fundraising hauls following his South Carolina win, the former vice president has struggled to raise money more broadly.
In Silicon Valley, which dominated by the tech sector, many wealthy donors prioritize executing a data-driven plan -- and Biden’s rocky campaign pushed many toward Buttigieg or Bloomberg in recent months, financiers say.
Biden's team is waging a quiet campaign to win them over, yet many are taking a wait-and-see approach.
At Monday's gaffe-riddled rally, Biden notably didn't take any shots at Bloomberg and instead aimed his barbs at Sanders -- in an apparent sign that Bloomberg isn't viewed as a significant threat.
For his part, as midnight approached, Trump weighed in on Twitter to make clear he felt Biden's misstatements were very much a liability.
"WOW!" Trump wrote. "Sleepy Joe doesn’t know where he is, or what he’s doing. Honestly, I don’t think he even knows what office he's running for!"

Fox News' Andrew O'Reilly and The Associated Press contributed to this report.

Monday, March 2, 2020

Stock market live updates: Dow jumps 1,290 points in biggest-ever point gain




U.S. stocks skyrocketed on Monday, with the Dow setting a single-day point record in a broad-based rebound, after mounting coronavirus fears sent global markets into a week-long swoon.
The powerful rally sent the blue-chip Dow index soaring by more than 1,290 points, which beat the previous record set in December 2018 and snapped a brutal seven-session losing streak. On a percentage basis, the S&P 500 Index and Nasdaq both saw their biggest move in over a year.
However, investors aren’t entirely convinced the worst is over, as the COVID-19 outbreak continues its inexorable spread across dozens of countries. Worldwide, the number of infections are closing in on 90,000, while the death toll has topped 3,000. At least for now, investors appear to be ignoring the new cases and deaths that have begun to affect the United States.
Last week, the rapid spread of coronavirus across countries outside of China rocked global markets, sending all three of the major indices into a correction in a matter of days, and pushing safe-haven bond yields to record lows. The sell-off contributed to nearly $7 trillion in market value being obliterated, according to S&P/Dow Jones’ Howard Silverblatt — only part of which was reversed by Monday’s surge.
“We’re not completely out of the woods,” Chris Pollard, head of market strategy at Cowen, told Yahoo Finance in an interview.
“The market by and large had been telling us this situation was going to deteriorate, [and] equities only caught on to that last week,” he said, adding that “any near-term bounce is unlikely to hold.”
Fears for the global economy are on the rise, as the coronavirus only just begins to surface in economic data — particularly in China, an epicenter of the coronavirus. The country’s Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) registered at 40.3 for February, representing the lowest reading in the 16-year history of the survey. Prints below 50 indicate contraction in a sector.
Also on Monday, the Paris-based Organization for Economic Co-operation and Development lowered its 2020 global economic growth forecast to 2.4% from 2.9% amid the outbreak. That would mark the weakest pace of growth since 2009.
“Under other conditions, the economic data in the week ahead would set the tone, but in the current environment, they play second fiddle to market positioning and anxiety around the Covid-19,” Marc Chandler, managing director at Bannockburn Global Forex, said Sunday.
“Investors may be particularly sensitive to downward revisions as it may reflect the deterioration of conditions as new data was reported,” he added.
Here were the main moves in markets, as of 4:00 p.m. ET:
Officials in the Seattle area said four new individuals died from the novel coronavirus, in addition to the two reported over the weekend, public health officials said Monday. Six deaths in total have occurred in the U.S. as a result of COVID-19.
The four new deaths were centered among elderly individuals in a nursing facility in Kirkland, Washington.

2:17 p.m. ET: Stocks touch highs of the day, Dow rallies 800+ points

Stocks continued their march higher during the afternoon session, with the Dow briefly advancing more than 3%.
At the highs of the day, the Dow added as many as 843 points.
Here were the main moves in markets, as of 2:17 p.m. ET:
  • S&P 500 (^GSPC): +2.41% or +71.23 points to 3,025.45
  • Dow (^DJI): +2.96% or +766.49 points to 26,175.85
  • Nasdaq (^IXIC): +2.41% or +208.74 points to 8,775.58
  • Crude oil (CL=F): +4.87% or +$2.18 to $46.94 a barrel
  • Gold (GC=F): +1.82% or +$28.50 to $1,595.20 per ounce
  • 10-year Treasury (^TNX): yielding 1.082%, down 4.4 basis points

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Israelis vote in 3rd election in a year focused on Netanyahu


JERUSALEM (AP) — Israelis were voting Monday in the country’s unprecedented third election in less than a year to decide whether longtime Prime Minister Benjamin Netanyahu stays in power despite his upcoming criminal trial on corruption charges.
Netanyahu, the longest serving leader in Israeli history, has been the caretaker prime minister for more than a year as a divided Israel has weathered two inconclusive elections and a prolonged political paralysis. With opinion polls forecasting another deadlock, Netanyahu is seeking a late surge in support to score a parliamentary majority along with other nationalist parties that will deliver him a fourth consecutive term in office, and fifth overall.
He faces a stiff challenge once again from retired military chief Benny Gantz, whose centrist Blue and White party is running even with Netanyahu’s Likud on a campaign message that Israel’s longtime prime minister is unfit to lead because of the serious charges against him.
Both parties appear unable to form a coalition with their traditional allies. With the prospect of a unity government between them seemingly off the table after a particularly nasty campaign, Monday’s vote may well turn into merely a preamble to another election.
“I hope that today marks the start of a healing process, where we can begin living together again,” Gantz said upon voting in his hometown of Rosh Ha’ayin in central Israel, warning voters not to “get drawn in by the lies or by the violence” after the acrimonious election campaign.
There was little fanfare in the days leading up to the vote, with a noticeable absence of campaign posters on the streets and public rallies that typically characterize to run-up to Israeli elections. With voter fatigue clearly a factor, turnout could prove to be decisive. Election day is a national holiday in Israel and the country usually boasts one of the highest voter turnouts among Western democracies. But the second repeat vote and fears of the new coronavirus, which has so far has been kept largely in check, look to hinder turnout.
Israel set up some 15 stations to allow voting by hundreds of Israelis who have been ordered to remain in home-quarantine after possible exposure to the virus.
Netanyahu has tried to portray himself as a statesman who is uniquely qualified to lead the country through challenging times. Gantz has tried to paint Netanyahu as divisive and scandal-plagued, offering himself as a calming influence and an honest alternative.
Gantz says he favors a national unity government with Likud, but only if it rids itself of its longtime leader because of the corruption charges against him. Netanyahu, who still enjoys widespread support in his party, insists he must remain prime minister in any unity deal.
With his career on the line, Netanyahu has campaigned furiously. He’s taken a hard turn to the right in hopes of rallying his nationalist base, promising to expand and annex West Bank settlements. In a campaign that has been marked by ugly smears, Netanyahu’s surrogates have spread unfounded allegations claiming Gantz is corrupt, unstable and susceptible to blackmail by Iran.
The most recent attempt appears to have backfired. Recordings have revealed Netanyahu lied on live television about not being involved in a plot to secretly record a Gantz consultant disparaging his boss. Channel 12 aired audio Sunday night of Netanyahu speaking to the rabbi who clandestinely recorded the Gantz adviser and discussing when it would be leaked to the media.
Netanyahu is desperate to score a narrow 61-seat majority in parliament with his hard-line religious and nationalist allies before heading to trial two weeks later. Netanyahu has failed to secure himself immunity from prosecution, but with a strong hold on power he could seek other avenues to derail the legal proceedings against him.
Netanyahu goes on trial March 17 for charges of bribery, fraud and breach of trust stemming from accusations he accepted lavish gifts from billionaire friends and promised to promote advantageous legislation for a major newspaper in exchange for favorable coverage. He vowed he will prove his innocence in court.
Opinion polls forecast similar results to the previous two stalemates, and the deadlock raises the possibility of a fourth election in quick succession.
Maverick politician Avigdor Lieberman once again looms as a potential kingmaker, with neither Netanyahu nor Gantz able to secure a parliamentary majority without his support. Lieberman has not committed himself to either candidate, though he has promised there will not be a fourth election.
Polling stations opened across the country at 7 a.m. Monday with exit polls expected at the end of the voting day at 10 p.m. (20:00 GMT) Official results are projected to come in overnight.
That’s when the real jockeying may get underway, with attention shifting to President Reuven Rivlin who is responsible for choosing a candidate for prime minister. He is supposed to select the leader who he believes has the best chance of putting together a stable coalition. The honor usually goes to the head of the largest party, but not necessarily. Just as important is the number of lawmakers outside his own party who recommend him to the president.
Rivlin’s selection will then have up to six weeks to form a coalition. If he fails, another candidate then has 28 days to form an alternative coalition. If that effort fails, new elections would be forced. It’s a procedural process that remained hypothetical for Israel’s first 70 years of existence until it played out after the last election in September. Should results match current opinion polls, and all the major player stick to the campaign promises, it may well repeat itself.
“This is usually a holiday, but to be honest I have no festivity in me just a sense of deep shame before you, the citizens of Israel,” Rivlin said as he cast his ballot. “We don’t deserve this. We don’t deserve another horrible and filthy campaign like the one that ends today and we don’t deserve this endless instability. We deserve a government that will work for us.”

Obama calls Biden to congratulate him on South Carolina, report says


Former President Barack Obama—who vowed not to endorse any candidate during the primary—congratulated his former vice president, Joe Biden, over his solid win in South Carolina on Saturday, which injected life into his campaign and ended Mayor Pete Buttiegieg's run.
Bloomberg News, citing two people familiar to the call, reported that the former president plans to let the primaries play out, and then work to unify the party and defeat President Trump.
Biden suffered poor results in Iowa's caucuses and New Hampshire’s primary, but he captured 48 percent of Democratic presidential primary voters in South Carolina, crushing Sen. Bernie Sanders by nearly 30 percentage points in the process.
Biden, who appeared emboldened, took a swipe at one of Sanders' signature lines during an appearance on "Fox New Sunday": "The people aren’t looking for revolution. They’re looking for results."
Obama’s decision not to endorse a candidate during the primary is a deliberate one. The Bloomberg report said the phone call on Saturday night, although falling short of an endorsement, shows that the two are still close.
Biden has been known to talk about his former boss while on the campaign trail. But if their relationship is still close,  it appears feelings with David  Axelrod, Obama's former top strategist, has cooled.
Axelrod has in the past described Biden as “confused” and suggested he looked like “part of the past rather than the future,” after a heated exchange during a June debate between Biden and Sen. Kamala Harris, D-Calif.
Fox News' Paul Steinhauser, Ronn Blitzer and the Associated Press contributed to this report

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