Sen. Kelly Loeffler (R-GA) turned over financial records to authorities on Thursday relating to sales in stocks owned by her and her husband before the market crashed due to the coronavirus pandemic, which originated in China.
&#8220;Senator Loeffler had forwarded documents and information to DOJ, the SEC, and the Senate Ethics Committee establishing that she and her husband acted entirely appropriately and observed both the letter and the spirit of the law,&#8221; her office said in a statement. &#8220;The documents and information demonstrated her and her husband&#8217;s lack of involvement in their managed accounts, as well the details of those accounts. Senator Loeffler had welcomed and responded to any questions from day one.&#8221;
Loeffler&#8217;s husband, Jeffrey Sprecher, is the CEO of the Intercontinental Exchange (ICE), which owns the New York Stock Exchange (NYSE).
Fox News <a href="https://www.foxnews.com/media/sen-loeffler-defends-covid-19-stock-trades-these-are-100-political-attacks">reported</a>:
<blockquote>In March, news stories surfaced revealing that Loeffler and her husband sold stock on Jan. 24, the same day she sat in on a closed-door coronavirus briefing as a member of the Senate Health Committee with the Trump administration and with Dr. Anthony Fauci in attendance. On Tuesday, the Georgia senator defended herself once again responding to a question from host Sandra Smith.</blockquote>
Loeffler <a href="https://www.dailywire.com/news/breaking-feds-investigating-lawmakers-stock-transactions-prior-to-market-crash-report-says">told</a> Fox Business in March, “I don’t do trades, Neil. I’m not involved in my portfolio. My husband is not involved. Our portfolio is managed by third parties. The actions are blind to me until they put it in front of me at the end of the reporting period. And I will just tell you, in that portfolio, it’s absolutely false that we sold millions. Actually, it was a more bullish bet. We ended up owning companies like Delta, like Goldman Sachs, like Prudential, companies that have been hard-hit and ended up losing money. No one has reported that and it doesn’t, you know, it has nothing to do with knowledge I had or didn’t have because I had no involvement in these trades.”
Since then, Loeffler and her husband have generously <a href="https://wfxl.com/news/local/georgia-senator-donates-1-million-to-phoebe-foundation">donated</a> $1 million to the Phoebe Foundation’s COVID-19 Relief Fund, which went toward supplying front line health care workers with personal protective equipment.
Scott Steiner, Phoebe Putney Health System Chief Executive Officer, said in a statement, “Sen. Loeffler has been a wonderful partner with Phoebe throughout our entire response to the COVID-19 pandemic.  I have spoken with her numerous times, and she has been a passionate advocate for hospitals in our state as we have sought federal resources to assist in our efforts to meet the unprecedented healthcare needs created by this public health crisis.  I was blown away several weeks ago when Kelly and Jeff offered such a generous personal donation to help the Phoebe Family.  They were clear, they want their gift to pay for PPE for our frontline staff, and that is exactly how we will utilize their donation.”
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Senate Luncheons

Loeffler Gives Records To DOJ On Stock Trades That Show She Had ‘Lack Of Involvement’ In Managing Accounts, Her Office Says

Coronavirus

COVID-19

Kelly Loeffler

Stock Market

Federal law enforcement officials have questioned Senator Dianne Feinstein (D-CA) over stock trades Richard Blum, the senator’s husband, made ahead of the coronavirus market crash. The senator’s husband <a href="http://barrons.com/articles/sen-dianne-feinsteins-husband-sold-a-biotech-stock-near-its-2020-low-51583064907">reportedly</a> sold between $1.5 million and $6 million in biotech stock from January 31 to February 18.
Tom Mentzer, a spokesperson for Feinstein, told <a href="https://www.sfchronicle.com/politics/article/Dianne-Feinstein-questioned-about-husband-s-15270295.php">the San Francisco Chronicle</a> on Thursday that the California senator turned over documents that show she wasn’t involved in her husband’s stock trades, and “voluntarily” answered “questions to set the record straight.”
The spokesperson told <a href="https://www.nytimes.com/2020/03/19/us/politics/richard-burr-stocks-sold-coronavirus.html">The New York Times</a> in mid-March, after reports emerged that four senators sold stocks before the market tanked, that Feinstein’s assets are in a blind trust. Feinstein tweeted on March 20 that her assets have been in a blind trust throughout her senate career, which began in 1992.
<blockquote class="twitter-tweet">
Under Senate rules I report my husband&#8217;s financial transactions. I have no input into his decisions. My husband in January and February sold shares of a cancer therapy company. This company is unrelated to any work on the coronavirus and the sale was unrelated to the situation.
— Senator Dianne Feinstein (@SenFeinstein) <a href="https://twitter.com/SenFeinstein/status/1241010797733728256?ref_src=twsrc%5Etfw">March 20, 2020</a></blockquote>
Allogene Therapeutics, the biotech company whose shares her husband traded, closed at $21.72 per share on January 31 and $24.25 on February 18. The company is currently trading at $42.55 per share.
Feinstein, the former chair of the Senate Intelligence Committee, disclosed the conversation with law enforcement officials as Senator Richard Burr (R-NC) agreed to step down from his position as Senate Intelligence Chair amidst an investigation into his stock activities on February 13.
In a statement, Senate Majority Leader Mitch McConnell (R-KY) said Burr approached him with the decision on Thursday morning, and they both agreed it “would be in the best interests of the committee.”
As <a href="https://www.latimes.com/politics/story/2020-05-13/fbi-serves-warrant-on-senator-stock-investigation">the Los Angeles Times</a> previously reported, the FBI obtained a search warrant for the senator and confiscated his cell phone. Law enforcement officials told the news agency that they were looking at his conversations with his stock broker and in previous days served a warrant to Apple in order to access information on the senator’s iCloud account.
Information about Burr’s stock activities was unearthed in late March by <a href="https://www.propublica.org/article/senator-dumped-up-to-1-7-million-of-stock-after-reassuring-public-about-coronavirus-preparedness">ProPublica</a>, which reported that the senator and his wife “sold off a significant percentage of his stocks” over the course of 33 transactions in a single day. The trades amounted to between $628,000 and $1.72 million, reports the news agency.
Burr told reporters on Thursday that the he has been complying with the investigation since the beginning, and that “everybody ought to let this investigation play out,” reports <a href="https://www.cnbc.com/2020/05/14/sen-richard-burr-steps-down-as-senate-intel-chair-during-coronavirus-stock-sale-probe.html">CNBC</a>. The senator also said he was stepping down as chairman because the ongoing investigation was a “distraction to the hard work of the committee.”
Burr has previously said that he made his financial decisions based on publicly available information, specifically referencing reports at CNBC daily health, according to <a href="https://apnews.com/27957dd84cbfaba7c8c26cd354711956">The Associated Press.</a>
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Dianne Feinstein

Feinstein Questioned By Law Enforcement Over Husband’s Stock Activity

Senator Richard Burr (R-NC), chairman of the Senate Intelligence Committee, has agreed to step aside as chairman amidst a federal investigation into stock trades he made in mid-February, prior to the coronavirus-caused stock market crash. 
In a statement on Wednesday morning, Senate Majority Leader Mitch McConnell (R-KY) <a href="https://www.mcconnell.senate.gov/public/index.cfm/pressreleases?ID=35C06032-B288-41E1-B474-B031E8E40E45">announced</a> that Burr would step aside as chairman while the investigation was pending. 
“Senator Burr contacted me this morning to inform me of his decision to step aside as Chairman of the Intelligence Committee during the pendency of the investigation. We agreed that this decision would be in the best interests of the committee and will be effective at the end of the day tomorrow,” said McConnell. 
Burr told reporters on Thursday that the he has been complying with the investigation since the beginning and that &#8220;everybody ought to let this investigation play out,&#8221; reports <a href="https://www.cnbc.com/2020/05/14/sen-richard-burr-steps-down-as-senate-intel-chair-during-coronavirus-stock-sale-probe.html">CNBC</a>. The senator also said he was stepping down as chairman because the ongoing investigation was a &#8220;distraction to the hard work of the committee.&#8221;
The <a href="https://www.latimes.com/politics/story/2020-05-13/fbi-serves-warrant-on-senator-stock-investigation">Los Angeles Times</a> reported on Wednesday evening that Burr turned over his phone to FBI agents at his residence near Washington after the agents served him with a search warrant. 
A law enforcement official with knowledge of the matter told The Times the Justice Department was looking into his communications with his stock broker, and a separate official told The Times that the FBI served Apple with a warrant to gain access to information on the senator’s iCloud account. 
Information about Burr’s stock activities was unearthed in late March by <a href="https://www.propublica.org/article/senator-dumped-up-to-1-7-million-of-stock-after-reassuring-public-about-coronavirus-preparedness">ProPublica</a>, which reported that the senator and his wife “sold off a significant percentage of his stocks” over the course of 33 transactions in a single day. The trades amounted to between $628,000 and $1.72 million, reports the news agency.
A financial filing obtained by <a href="http://pfds.opensecrets.org.s3.amazonaws.com/Burr_PTR_0202020-rotated%20%281%29.pdf">The New York Times</a> notes that Burr sold off between $15,001 to $50,000 in holdings of Extended Stay America and $50,001 to $100,000 in holdings of Wyndham Hotels and Resorts. 
In a statement to <a href="https://apnews.com/27957dd84cbfaba7c8c26cd354711956">The Associated Press</a>, Alice Fisher, an attorney for Burr, said “the law is clear that any American — including a Senator — may participate in the stock market based on public information.”
“When this issue arose, Senator Burr immediately asked the Senate Ethics Committee to conduct a complete review, and he will cooperate with that review as well as any other appropriate inquiry,” said Fisher. “Senator Burr welcomes a thorough review of the facts in this matter, which will establish that his actions were appropriate.”
AP reports that Burr has acknowledged his stock sales were related to the coronavirus, but maintains he only used public information to guide his financial decisions, specifically referencing CNBC daily health and science reporting.
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U.S. Senate Meets As White House, Congressional Leaders Strike Deal On $2 Trillion Stimulus Package

BREAKING: Senate Intelligence Chairman Steps Away From Role Amidst Stock Trade Investigation

Richard Burr

Senator Richard Burr (R-NC), chairman of the Senate Intelligence Committee, has been served with an FBI search warrant in connection with dozens of stock trades he made on February 13, before the widespread stay-at-home orders took place.
According to <a href="https://www.latimes.com/politics/story/2020-05-13/fbi-serves-warrant-on-senator-stock-investigation">the Los Angeles Times</a>, the FBI visited the senator at his residence around the nation’s capital, where he turned over his cell phone. The Times reported no other details about the warrant at the time of publishing, and spoke with a law enforcement official on the condition of anonymity.
Los Angeles Times reporter Del Quentin Wilber has since stated that the FBI also issued a warrant to Apple in order to get information from the senator&#8217;s iCloud account.
<blockquote class="twitter-tweet">
FBI served a warrant on Apple to get info from Burr&#8217;s iCloud accounts in recent days, too, law enforcement official said. <a href="https://t.co/7mWNaWaOCR">https://t.co/7mWNaWaOCR</a>
— Del Quentin Wilber (@DelWilber) <a href="https://twitter.com/DelWilber/status/1260765064195383301?ref_src=twsrc%5Etfw">May 14, 2020</a></blockquote>
Information about Burr’s stock activities was unearthed in late March by <a href="https://www.propublica.org/article/senator-dumped-up-to-1-7-million-of-stock-after-reassuring-public-about-coronavirus-preparedness">ProPublica</a>, which reported that the senator and his wife “sold off a significant percentage of his stocks” over the course of 33 transactions in a single day.
From the single day of trading, the news agency discovered Burr had unloaded between $628,000 and $1.72 million in holdings.
A financial filing obtained by <a href="http://pfds.opensecrets.org.s3.amazonaws.com/Burr_PTR_0202020-rotated%20%281%29.pdf">The New York Times</a> notes that Burr sold off between $15,001 to $50,000 in holdings of Extended Stay America and $50,001 to $100,000 in holdings of Wyndham Hotels and Resorts.
In a statement to <a href="https://apnews.com/27957dd84cbfaba7c8c26cd354711956">the Associated Press</a>, Alice Fisher, an attorney for Burr, said “the law is clear that any American — including a Senator — may participate in the stock market based on public information.”
“When this issue arose, Senator Burr immediately asked the Senate Ethics Committee to conduct a complete review, and he will cooperate with that review as well as any other appropriate inquiry,” said Fisher. “Senator Burr welcomes a thorough review of the facts in this matter, which will establish that his actions were appropriate.”
AP reports that Burr has acknowledged his stock sales were related to the coronavirus, but maintains he only used public information to guide his financial decisions, specifically referencing CNBC daily health and science reporting.
As <a href="http://&lt;blockquote class=&quot;twitter-tweet&quot;&gt;&lt;p lang=&quot;en&quot; dir=&quot;ltr&quot;&gt;FBI served a warrant on Apple to get info from Burr's iCloud accounts in recent days, too, law enforcement official said. &lt;a href=&quot;https://t.co/7mWNaWaOCR&quot;&gt;https://t.co/7mWNaWaOCR&lt;/a&gt;&lt;/p&gt;&amp;mdash; Del Quentin Wilber (@DelWilber) &lt;a href=&quot;https://twitter.com/DelWilber/status/1260765064195383301?ref_src=twsrc%5Etfw&quot;&gt;May 14, 2020&lt;/a&gt;&lt;/blockquote&gt; &lt;script async src=&quot;https://platform.twitter.com/widgets.js&quot; charset=&quot;utf-8&quot;&gt;&lt;/script&gt;">The Daily Wire</a> previously reported, Burr was among three other senators who received heat after reports emerged they sold off holdings before the stock market began to fall. The other senators included Dianne Feinstein (D-CA), Kelly Loeffler (R-GA), and James Inhofe (R-OK).
A spokesperson for Feinstein told <a href="https://www.nytimes.com/2020/03/19/us/politics/richard-burr-stocks-sold-coronavirus.html">The New York Times</a> in March that all of the senator&#8217;s &#8220;assets are in a blind trust,&#8221; and that she has &#8220;no involvement in her husband&#8217;s financial decisions.&#8221; Inhofe told <a href="https://www.koco.com/article/sen-jim-inhofe-defends-himself-after-report-says-he-sold-stocks-right-before-market-crash/31851389#">ABC-5</a> in March that he&#8217;s been gradually divesting from stocks over the last 15 months.
Loeffler also responded to the allegations in March, <a href="https://twitter.com/SenatorLoeffler/status/1240856942433767425?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1240856942433767425&amp;ref_url=https%3A%2F%2Fwww.dailywire.com%2Fnews%2Fsenate-intelligence-chairman-served-fbi-search-warrant-over-stock-trades-report-says">saying</a> she was informed of the stock activity three weeks after it happened: &#8220;This is a ridiculous and baseless attack. I do not make investment decisions for my portfolio. Investment decisions are made by multiple third-party advisors without my or my husband’s knowledge or involvement.
The Daily Wire, headed by bestselling author and popular podcast host Ben Shapiro, is a leading provider of conservative news, cutting through the mainstream media’s rhetoric to provide readers the most important, relevant, and engaging stories of the day. Get inside access to The Daily Wire by becoming a <a href="https://www.dailywire.com/subscribe">member</a>.

Health Agency Chiefs Testify During Senate HELP Committee Hearing

Senate Intelligence Chairman Served FBI Search Warrant Over Stock Trades, Report Says

In a string of truly bizarre tweets early Friday morning, Tesla CEO Elon Musk unleashed his eclectic musings to his over 33 million followers, including one comment that prompted the value of his company’s shares to drop almost 9%.
The comments, which were posted Friday morning over the course of about an hour, began with the Tesla CEO remarking that he would be “selling almost all physical possessions,&#8221; including his house.
<blockquote class="twitter-tweet">
I am selling almost all physical possessions. Will own no house.
— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1256239554148724737?ref_src=twsrc%5Etfw">May 1, 2020</a></blockquote>
Only a minute later, Musk opined on the price of Tesla’s stock shares, observing that, in his opinion, the “stock price is too high.”
<blockquote class="twitter-tweet">
Tesla stock price is too high imo
— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1256239815256797184?ref_src=twsrc%5Etfw">May 1, 2020</a></blockquote>
Several minutes later, Musk followed up with a call to &#8220;give people back their FREEDOM,&#8221; a comment similar to anti stay-at-home remarks he made during a conference call on Wednesday.
“To say that they cannot leave their house and they will be arrested if they do, this is fascist. This is not democratic, this is not freedom. Give people back their goddamn freedom,&#8221; said Musk, according to <a href="https://www.reuters.com/article/us-tesla-results/teslas-elon-musk-calls-coronavirus-lockdowns-fascist-as-profit-streak-continues-idUSKBN22B35G">Reuters</a>.
But after his Friday morning freedom comment, Musk decided to lean fully into the patriotism angle by tweeting his 33.4 million followers excerpts from the Star Spangled Banner, while phrasing the last line as a question.
<blockquote class="twitter-tweet">
And the rocket&#8217;s red glare, 
the bombs bursting in air
— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1256243674268098561?ref_src=twsrc%5Etfw">May 1, 2020</a></blockquote>
<blockquote class="twitter-tweet">
Oh, say does that star-spangled banner yet wave
— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1256244431755173890?ref_src=twsrc%5Etfw">May 1, 2020</a></blockquote>
<blockquote class="twitter-tweet">
O&#8217;er the land of the free and the home of the brave?
— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1256244646616788992?ref_src=twsrc%5Etfw">May 1, 2020</a></blockquote>
In the hour after Musk began his Twitter rant, shares in the company dropped in value by more than 9%, down to about $686 per share, after closing the previous day at about $781 per share. After <a href="https://www.wsj.com/articles/tesla-stock-falls-after-ceo-tweets-stock-is-too-high-11588348672">The Wall Street Journal</a> asked him whether he was joking, or whether someone approved his tweet, Musk simply said “No.”
In 2018, Musk got into trouble with the Securities and Exchange Commission for tweeting that he would consider “taking Tesla private at $420. Funding secured,” reports <a href="https://www.theverge.com/2020/5/1/21244747/elon-musk-tesla-tweets-shares-sec-settlement-stock">The Verge</a>. In response, the SEC filed a lawsuit against Musk, and eventually hashed out an agreement that required him to get his tweets about Tesla’s finances pre-approved by an in-house lawyer.
“If it was not vetted, he’s at risk of being hauled into court again by the SEC,” Steve Diamond, a law professor at Santa Clara University, told the news agency. “The process was meant to catch these kinds of tweets before they went out. If he did it spontaneously, I think he’s gonna have an issue.”
With respect to his comments on Friday, Musk returned to his remarks a few times to clarify that he didn’t need cash, was doing it for “freedom,” and that he still planned on keeping Gene Wilder’s house – which <a href="https://www.huffpost.com/entry/elon-musk-gene-wilder-house_n_4215105">he bought</a> in 2013 for nearly $7 million.
The Daily Wire, headed by bestselling author and popular podcast host Ben Shapiro, is a leading provider of conservative news, cutting through the mainstream media’s rhetoric to provide readers the most important, relevant, and engaging stories of the day. Get inside access to The Daily Wire by becoming a <a href="https://www.dailywire.com/subscribe">member</a>.

Elon Musk attends SATELLITE 2020 conference

Tesla Stock Tumbles After Elon Musk’s Bizarre Rant: Price ‘Too High,’ People Need ‘FREEDOM’

Elon Musk

Tesla

Despite the coronavirus crisis that spurred lockdowns on business across the United States, April was the best month for the stock market since January 1987 and the best April since 1938.  The S&amp;P 500 skyrocketed 13% in April; CNN <a href="https://www.cnn.com/2020/05/01/investing/stock-market-recession-coronavirus/index.html">reported</a>, “The S&amp;P 500 now trades at 21.7 times projected earnings, the loftiest level since May 2002, according to Refinitiv.”
April was the best month for the Nasdaq since June 2000. Mark Haefele, chief investment officer at UBS Global Wealth Management, stated, &#8220;Over recent weeks, a path to our upside scenario, in which we see a sustained return to normality from June, has emerged,&#8221; pointing out that a &#8220;sustainable end to lockdowns” could spark a rise to the economic output prior to the coronavirus crisis.
<a href="https://www.marketwatch.com/story/after-a-blockbuster-april-for-the-dow-and-sp-500-is-sell-in-may-in-the-coronavirus-era-a-smart-strategy-2020-04-30?mod=home-page">MarketWatch</a> reported, “Apparently, stock-market investors are betting that the viral outbreak that has devastated the jobs market, pushing the total number of <a style="font-style: inherit; font-weight: inherit;" href="https://www.marketwatch.com/story/us-jobless-claims-climb-38-million-in-late-april-to-push-coronavirus-total-to-30-million-2020-04-30?mod=article_inline">Americans to around 30 million</a> and likely driving the unemployment rate to the worst levels since the Great Depression, is likely to eventually subside.” MarketWatch added that the Dow Jones Industrial Average was “looking at a gain of 11.1% in April.”
Consumers are still wary about the economy; The Bureau of Economic Analysis reported that in March the savings rate in the United States rose to 13.1%, the highest since November 1981.
But MarketWatch’s Mark Hulbert <a style="font-style: inherit; font-weight: inherit;" href="https://www.marketwatch.com/story/sell-in-may-and-go-away-is-a-warning-to-stock-investors-now-more-than-ever-2020-04-17?mod=article_inline">noted</a> that seven of the past eight years have featured positive gains in the six-month sell period between May and the end of October; that supposition was buttressed by <a href="https://lplresearch.com/author/lplresearch/?mod=article_inline">data compiled by LPL Financial</a>.
Chris Dillon, capital markets investment specialist for T. Rowe Price, told <a href="https://www.marketwatch.com/story/dow-futures-rise-as-market-watches-for-jobless-claims-and-quarterly-results-from-apple-others-2020-04-30">Market Watch</a>, “Markets are looking through this horrendous air pocket of economic fundamentals and leaning on the Fed … We’re all MMTers now.”  Modern Monetary Theory, MarketWatch explained, is <a href="https://www.marketwatch.com/story/modern-monetary-theory-carries-grain-of-truth-and-thats-why-its-dangerous-says-former-treasury-official-2019-11-15?mod=article_inline">the idea that government budget deficits don’t matter</a>.
Dillon added, “And investors have taken heart from strong corporate reports from Facebook, Microsoft and Tesla late Wednesday, perhaps reflecting more optimism about the ability of technology stocks to be “on the right side of COVID-19.”
<a href="https://finance.yahoo.com/news/stock-market-news-live-april-30-2020-221810063.html">Yahoo Finance</a> reported, “Policymakers reaffirmed their commitment to support the domestic economy with a wide range of stimulus measures. On the heels of a pair of emergency rate cuts and unscheduled new programs released over the past month, the<a href="https://finance.yahoo.com/news/fed-fomc-decision-april-2020-141824183.html"> Federal Reserve said on Wednesday</a> it would keep interest rates near zero for the foreseeable future, ‘until it is confident that the economy has weathered recent events and is on track to achieve its maximum employment and price stability goals.’”
The Federal Reserve played a significant role in the stock market’s sustainability; on March 23 the Fed <a href="https://www.federalreserve.gov/newsevents/pressreleases/monetary20200323b.htm">issued a statement</a> that read:
<blockquote>The Federal Reserve is committed to using its full range of tools to support households, businesses, and the U.S. economy overall in this challenging time. The coronavirus pandemic is causing tremendous hardship across the United States and around the world. Our nation&#8217;s first priority is to care for those afflicted and to limit the further spread of the virus. While great uncertainty remains, it has become clear that our economy will face severe disruptions. Aggressive efforts must be taken across the public and private sectors to limit the losses to jobs and incomes and to promote a swift recovery once the disruptions abate.
The Federal Reserve&#8217;s role is guided by its mandate from Congress to promote maximum employment and stable prices, along with its responsibilities to promote the stability of the financial system. In support of these goals, the Federal Reserve is using its full range of authorities to provide powerful support for the flow of credit to American families and businesses &#8230;
The Federal Open Market Committee (FOMC) will purchase Treasury securities and agency mortgage-backed securities in the amounts needed to support smooth market functioning and effective transmission of monetary policy to broader financial conditions and the economy.</blockquote>
The Daily Wire, headed by bestselling author and popular podcast host Ben Shapiro, is a leading provider of conservative news, cutting through the mainstream media’s rhetoric to provide readers the most important, relevant, and engaging stories of the day. Get inside access to The Daily Wire by becoming a <a href="https://www.dailywire.com/subscribe">member</a>.  
&nbsp;
&nbsp;

US-STOCKS-MARKETS-OPEN

Stock Market Rebounds In April With Best Month Since 1987

Sen. Kelly Loeffler (R-GA) is liquidating the rest of her stock portfolio after she was suspected of profiting off of the coronavirus pandemic.
Loeffler announced that she and her husband, Intercontinental Exchange CEO Jeff Sprecher, would sell the rest of their stock in a Wall Street Journal <a href="https://www.wsj.com/articles/i-never-traded-on-confidential-coronavirus-information-11586365056">op-ed</a> published Wednesday. She denied all charges that she had purposely sold stock before the pandemic plunged the market into chaos.
Loeffler was one of four senators <a href="https://www.dailywire.com/news/four-senators-under-fire-after-selling-off-stocks-before-coronavirus-crash">accused</a> of profiteering on the pandemic by selling off stock after health officials briefed senators about the growing threat of the coronavirus on Jan. 24. Other senators who reportedly offloaded portions of their portfolios are ranking Senate Judiciary Committee member Dianne Feinstein (D-CA), Senate Intelligence Chair Richard Burr (R-NC), and Sen. James Inhoffe (R-OK).
&#8220;While the American people are enduring the impact of Covid-19, I have become a top target of baseless attacks from political adversaries and the media. The truth, as I said when the accusations first surfaced, is that I have never used any confidential information I received while performing my Senate duties as a means of making a private profit. Nor has anyone in my family,&#8221; Loeffler wrote.
The Georgia senator said that her financial managers had completed the trades without her knowledge. On March 20, after the revelations were first reported, Loeffler released documents showing that she was informed of the managers’ trades on Feb. 16, weeks after the briefing but before the stock market began sliding.
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
By the way, here’s the proof:<a href="https://t.co/jGUYbh8Oc6">https://t.co/jGUYbh8Oc6</a> <a href="https://t.co/kEm16ERdVM">https://t.co/kEm16ERdVM</a> <a href="https://t.co/aU575QGsKm">pic.twitter.com/aU575QGsKm</a>
&mdash; Senator Kelly Loeffler (@SenatorLoeffler) <a href="https://twitter.com/SenatorLoeffler/status/1241018508001107968?ref_src=twsrc%5Etfw">March 20, 2020</a></blockquote>
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&#8220;Professionals buy and sell stocks on our behalf,&#8221; Loeffler said. &#8220;We don’t direct trading in these accounts. These trades are disclosed routinely and publicly in reports to the Senate Select Committee on Ethics, in full compliance with transparency laws.&#8221;
Loeffler slammed the attacks against her as &#8220;well beyond what should be considered acceptable&#8221; in politics.
&#8220;I’m not doing this because I have to. I’ve done everything the right way and in compliance with Securities and Exchange Commission regulations, Senate ethics rules and U.S. law. I’m doing it because the issue isn’t worth the distraction,&#8221; Loeffler said. &#8220;My family’s investment accounts are being used as weapons for an assault on my character at a time when we should all be focused on making our country safe and strong.&#8221;
Georgia Gov. Brian Kemp appointed Loeffler to the Senate following the resignation of former Sen. Johnny Isakson until a special election can be held. Loeffler is facing a tough challenge in Rep. Doug Collins (R-GA), who <a href="https://www.politico.com/f/?id=00000171-4d7f-d6b1-a3f1-cdff9dd50000">released</a> internal polling earlier this week showing him leading Loeffler 36% to 13%.
Collins has been one of Loeffler’s loudest critics since her stock transactions were uncovered. The Georgia representative said he was &#8220;sickened&#8221; after the news broke on March 20.
&#8220;People are losing their jobs, their businesses, their retirements, and even their lives and Kelly Loeffler is profiting off their pain? I&#8217;m sickened just thinking about it,&#8221; Collins said.
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People are losing their jobs, their businesses, their retirements, and even their lives and Kelly Loeffler is profiting off their pain? I&#39;m sickened just thinking about it.
&mdash; Doug Collins (@CollinsforGA) <a href="https://twitter.com/CollinsforGA/status/1240985548501716992?ref_src=twsrc%5Etfw">March 20, 2020</a></blockquote>
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&#8220;Throughout this crisis I’ve been working hard to contribute legislative provisions that support essential medical devices, rural health care, telehealth, small businesses and Main Street employers. I will continue to focus on serving our country and the people of Georgia,&#8221; Loeffler wrote.

Sen. Kelly Loeffler

Kelly Loeffler Dumps Stocks After Dustup Over Coronavirus Trades

The potential reopening of the economy is not the only fresh prospect easing stock market tensions. Now that the &#8220;Bernie Revolution&#8221; has officially halted, stocks are surging upwards as investors warm to the fact that a socialist will not be occupying the White House next February.
On Wednesday, Sen. Bernie Sanders (I-VT) suspended his presidential campaign after former Vice President Joe Biden rebounded from a losing position to overtake him in the primary. Shortly thereafter, his exit from the race yielded positive dividends in the stock market as the Dow gained 700 points.
&#8220;U.S. equity markets rallied to session highs Wednesday after Sen. Bernie Sanders announced he was suspending his presidential campaign,&#8221; reports <a href="https://www.foxbusiness.com/markets/us-stocks-april-8-2020">Fox Business</a>. &#8220;The Dow Jones Industrial Average gained 593 points, or 2.62 percent, ahead of the noon hour while the S&amp;P 500 and Nasdaq Composite rose 2.4 percent and 2.04 percent, respectively. The gains have lifted the S&amp;P 500 out of its bear market, which would officially end with the index closing above 2,684.88.&#8221;
Ed Mills, Washington policy strategist at Raymond James, told <a href="https://www.cnbc.com/2020/04/07/stock-market-futures-open-to-close-news.html">CNBC</a> that Sanders&#8217; exit has eased tensions over the economic fallout from some of his policy proposals.
“Sanders’ exit removes the tail risk of some of his policies, immediately sets up focus on Biden vs. Trump,” said Mills. “Biden’s policies will get a new scrutiny now [that] he is the presumptive nominee, but the truth of the matter is that the market will be looking towards Washington more to help the economy and much of the assistance matches his platform.”
In other good news, the stock market began to take a positive turn this week as Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, expressed more optimism about the coronavirus and its bending curve.
“If the curve is bending, for the first time, some time-line is coming into focus for restarting at least parts of the economy,” said Jim Paulsen, chief investment strategist at the Leuthold Group. “This means investors can start to reduce their best guesses as to how long this recession will last and even if the recession is very deep, if its duration can be shortened and known with some greater clarity, this would tend to raise the value of the stock market.”
As <a href="https://www.dailywire.com/news/white-house-coronavirus-model-gets-updated-second-time-in-four-days-downgrading-deaths-hospitalizations-again">reported</a> by The Daily Wire&#8217;s Amanda Prestigiacomo, the White House updated its coronavirus projection models on Wednesday, lowering the death count and hospitalizations by steady margins: from 93,531 deaths to 81,766 deaths to 60,415 deaths.
&#8220;Moreover, the projected total hospital bed shortage decreased from 34,654 to 15,852 (a revised number from April 5), and the so-called &#8216;peak&#8217; of hospital usage was pushed up from April 15 to April 11,&#8221; reported Prestigiacomo. &#8220;The peak daily death toll was also moved up to April 12, from the revised April 16 date.&#8221;
Addressing his supporters on Wednesday, Bernie Sanders, a twice-failed presidential candidate, said that he won the &#8220;ideological&#8221; battle against Joe Biden.
“Together we have transformed the American consciousness as to what kind of nation we can become,” Sanders said. “Our movement has won the ideological struggle.”
Joe Biden, whose son earned an estimated $50k a month working on the board of the Ukranian energy company Burisma without any prior experience, was regarded by Sanders as a &#8220;decent&#8221; man.

Presidential Candidate Bernie Sanders Gives Livestream Talk On Coronavirus Response

Stocks Surge After Bernie Sanders Ends Presidential Campaign

2020 Election

Bernie Sanders

On Monday morning, stocks surged as reports surfaced that the coronavirus epidemic plaguing New York may be slowing down. As <a href="https://www.foxbusiness.com/markets/us-stocks-april-6-2020">Fox Business</a> reported at roughly 1 p.m. EST, “The number of new cases over the weekend in New York City, the U.S.’s epicenter for the virus, rose by 30.4 percent versus last week, down from a 46.1 percent jump the week prior … The Dow Jones Industrial Average was up more than 1,100 points, or 5.5 percent, while the S&amp;P 500 and Nasdaq Composite were higher by 5.4 percent and 5.3 percent, respectively.”
<a href="https://www.cnbc.com/2020/04/06/stock-market-live-updates-dow-futures-up-750-nasdaq-futures-up-4percent-bottom-in.html">CNBC</a> reported at 2:15 EST, &#8220;About 12 stocks rose at the New York Stock Exchange on Monday for every decliner as the market rallied on hopes the rate of new coronavirus cases is starting to ebb. Overall, more than 2,700 NYSE-listed stocks traded higher while 231 fell, according to FactSet data.&#8221;
The lowest point for the Dow Jones Industrial Average since the coronavirus pandemic reached American shores occurred on March 23, when it dropped to 18, 591. At the beginning of Monday morning, the Dow Jones rested at 21,052; by roughly 2:30 EST on Monday, it had climbed to roughly 22,200.
<a href="https://www.ccn.com/the-dow-is-surging-thats-terrible-news-for-stock-market-bulls/">CCN</a> noted, &#8220;BTIG chief equity and derivatives strategist Julian Emanuel said last week that the market likely wouldn’t<a href="https://www.marketwatch.com/story/why-the-vix-gauge-of-stock-market-volatility-is-still-so-stubbornly-high-2020-03-30" target="_self" rel="follow noopener noreferrer" data-wpel-link="exclude"> secure sustained upward momentum</a> until the VIX ticked below 50 and stayed there &#8230; The stock market’s &#8216;fear gauge&#8217; swung below 50 last Friday after peaking as high as 85.47 in mid-March.&#8221; Good news: as of 2:35 EST on Monday, the VIX <a href="https://finance.yahoo.com/quote/%5EVIX/history?p=%5EVIX">rested</a> at 44.28.
<a href="https://www.investors.com/market-trend/stock-market-today/dow-jones-coronavirus-stock-market-rally-covid-19-cases-amazon-netflix-tesla-zoom-video/">Investor&#8217;s Business Daily</a> reported on Monday, “On Sunday, there were signs of slowing growth with the number of new cases rising 25,316, down from Saturday&#8217;s increase of 34,196 … New York state continues to be the epicenter of the outbreak in the U.S. with more than 123,000 total cases, or about 36% of the country&#8217;s confirmed total. But even in New York, the number of new cases slowed on Sunday with an increase of about 8,200. New York Gov. Andrew Cuomo said New York virus deaths declined for the first time, while hospitalizations also fell.”
<a href="https://www.nytimes.com/2020/04/06/nyregion/coronavirus-new-york-update.html">The New York Times</a> added, “Despite nearly 600 newly reported coronavirus deaths in New York on Monday, the state’s second-highest one-day death toll, Gov. Andrew M. Cuomo said there continued to be signs that the outbreak was starting to slow. For days, New York officials have sought indications that the virus was reaching a peak in the state, which has been the U.S. epicenter of the pandemic. On Sunday, the one-day death toll dropped to 594, from 630 the day before. On Monday, it was about the same as Sunday, 599, Mr. Cuomo said.”
The Times also noted that the day-over-day increase of people on intensive care in New York from Sunday to Monday, 128, “was the smallest in at least two weeks. Last week, the number of people in intensive care beds, which have ventilators, was growing more than 300 people a day, driving projections that the state would soon run out of ventilators.”
Thecity.nyc <a href="https://thecity.nyc/2020/04/early-signs-new-nyc-coronavirus-infections-may-be-slowing.html">reported</a>, “After peaking at a jump of 118% between March 17 and March 18 — just after schools, restaurants and other gathering places closed — the increase in new cases has declined to between 9% and 13% per day since March 29, according to THE CITY’s analysis of city Health Department data.”
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Close-Up Of Stock Market Data

Stocks Surge As Reports Say N.Y. Virus Crisis Slowing Down

New York City

Federal law enforcement officials are reportedly investigating a series of stock market transactions that were made by U.S. lawmakers prior to the stock market tanking as a result of the coronavirus rapidly spreading throughout the U.S.
&#8220;The inquiry, which is still in its early stages and being done in coordination with the Securities and Exchange Commission, has so far included outreach from the FBI to at least one lawmaker, Sen. Richard Burr, seeking information about the trades, according to one of the sources,&#8221; CNN <a href="https://www.cnn.com/2020/03/29/politics/justice-stock-trades-lawmakers-coronavirus/index.html">reported</a>. &#8220;Public scrutiny of the lawmakers&#8217; market activity has centered on whether members of Congress sought to profit from the information they obtained in non-public briefings about the virus epidemic.&#8221;
CNN added that there is &#8220;no indication that any of the sales, including Burr&#8217;s, broke any laws or ran afoul of Senate rules.&#8221;
Other senators who have come under scrutiny include Sens. Kelly Loeffler (R-GA), Dianne Feinstein (D-CA), and Jim Inhofe (R-OK).
&#8220;Congress passed the Stock Act in 2012, which made it illegal for lawmakers to use inside information for financial benefit,&#8221; CNN added. &#8220;Under insider trading laws, prosecutors would need to prove the lawmakers traded based on material non-public information they received in violation of a duty to keep it confidential.&#8221;
Burr said in a statement two weeks ago that he welcomed an investigation into his stock market transactions.
&#8220;I relied solely on public news reports to guide my decision regarding the sale of stocks on February 13,&#8221; Burr said in a statement. &#8220;Specifically, I closely followed CNBC&#8217;s daily health and science reporting out of its Asia bureaus at the time.&#8221;
Burr continued, &#8220;Understanding the assumption many could make in hindsight however, I spoke this morning with the chairman of the Senate Ethics Committee and asked him to open a complete review of the matter with full transparency.&#8221;
Loeffler appeared in numerous television interviews after speculation over her stock trades where she said that she does not manage her portfolio.
Loeffler <a href="https://www.loeffler.senate.gov/senator-loeffler-fox-business-i-had-no-involvement-these-trades">told</a> Fox Business host Neil Cavuto on March 24, &#8220;I don&#8217;t do trades, Neil. I&#8217;m not involved in my portfolio. My husband is not involved. Our portfolio is managed by third parties. The actions are blind to me until they put it in front of me at the end of the reporting period. And I will just tell you, in that portfolio, it&#8217;s absolutely false that we sold millions. Actually, it was a more bullish bet. We ended up owning companies like Delta, like Goldman Sachs, like Prudential, companies that have been hard-hit and ended up losing money. No one has reported that and it doesn&#8217;t, you know, it has nothing to do with knowledge I had or didn&#8217;t have because I had no involvement in these trades.”
CNN noted that Feinstein did not sell any stock herself, but her husband reportedly sold millions in stocks.
Inhofe said that he had no involvement in the investment decisions that were made in his portfolio.
When the news broke about the senator&#8217;s stock trades it spurred wide spread calls for them to resign or for the government to launch an investigation.
This report has been updated to include additional information.

US-HEALTH-VIRUS-BRIEFING

Feds Investigating Lawmakers’ Stock Transactions Prior To Market Crash, Report Says

Washington D.C.

The stock market skyrocketed late on Tuesday afternoon as investors showed strong optimism that Congress would come to an agreement on a massive stimulus spending bill to help protect the economy and American families from the outbreak of the coronavirus, which originated in China.
&#8220;In the final hour of trading, gains picked up steam giving the Dow Jones Industrial Average a 2,112 point gain, the biggest ever, or 11 percent, while the S&amp;P 500 gained over 9.3 percent and the Nasdaq over 8.1 percent,&#8221; Fox Business <a href="https://www.foxbusiness.com/markets/us-stocks-march-24-2020">reported</a>. &#8220;The upbeat sentiments were boosted by comments from President Trump, who said he supports reopening businesses sooner rather than later.&#8221;
The Wall Street Journal <a href="https://www.wsj.com/articles/global-stock-markets-dow-update-3-24-2020-11585012632?mod=hp_lead_pos1&amp;mod=article_inline">added</a>:
<blockquote>The blue-chip index gained 2,112.98 points to close at 20704.91. It was the biggest one-day percentage gain for the blue-chip index in almost 90 years, and its largest-ever move in point terms.
The S&amp;P 500 climbed 209.93 points, or 9.4%, to 2447.33. The tech-heavy Nasdaq Composite rose 557.18 points, or 8.1%, to 7417.86. All three indexes are still down at least 24% from their mid-February highs.</blockquote>
Fox Business noted that the markets responded positively to remarks made by the president that he was hoping to get the economy up and going again by Easter.
&#8220;We can&#8217;t lose these companies if we lose a company that employs 100,000, 150,000 people when we could have given them what they sometimes call a bridge loan,&#8221; Trump said. &#8220;So it&#8217;s a very important thing.&#8221;
&#8220;Look, Easter is a very special day for me. And I see it sort of in that timeline that I&#8217;m thinking about. And I say, wouldn&#8217;t it be great to have all of the churches full?&#8221; Trump continued. &#8220;You know, the churches aren&#8217;t allowed essentially to have much of a congregation there. And most of them I watched on Sunday online and it was terrific, by the way. But online is never gonna be like being there. So I think Easter Sunday and you&#8217;ll have packed churches all over our country.&#8221;
&#8220;I think would be a beautiful time,&#8221; Trump concluded. &#8220;And it&#8217;s just about the timeline that I think is right. It gives us more chance to work on what we&#8217;re doing. And I&#8217;m not sure that&#8217;s gonna be the day, but I would love to aim it right at Easter Sunday. So we&#8217;re open for church service and services generally on Easter Sunday. That would be a beautiful thing.&#8221;
Trump added on Twitter: &#8220;Our people want to return to work. They will practice Social Distancing and all else, and Seniors will be watched over protectively &amp; lovingly. We can do two things together. THE CURE CANNOT BE WORSE (by far) THAN THE PROBLEM! Congress MUST ACT NOW. We will come back strong!&#8221;
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Our people want to return to work. They will practice Social Distancing and all else, and Seniors will be watched over protectively &amp; lovingly. We can do two things together. THE CURE CANNOT BE WORSE (by far) THAN THE PROBLEM! Congress MUST ACT NOW. We will come back strong!
&mdash; Donald J. Trump (@realDonaldTrump) <a href="https://twitter.com/realDonaldTrump/status/1242455267603877894?ref_src=twsrc%5Etfw">March 24, 2020</a></blockquote>
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This is a breaking news story, refresh the page for updates.

Close-Up Of Hand Analyzing Stock Market Data On Screen

Dow Posts Biggest Single-Day Point Gain In History

It&#8217;s been a brutal few weeks for the stock market, which has now officially lost all of the gains of the &#8220;Trump bull market&#8221; amid panic over the coronavirus pandemic. On Wednesday, the New York Stock Exchange announced that it was taking an unprecedented step in response to the virus: temporarily shutting down its historic trading floor — the first time that&#8217;s ever been done independently — and moving to fully electronic trading.
The decision was sparked by two people testing positive for coronavirus this week after the exchange set up screenings. &#8220;The closure was in part as a result of positive coronavirus tests of two people, Stacey Cunningham, President of the NYSE, told CNBC,&#8221; the outlet <a href="https://www.cnbc.com/2020/03/18/nyse-to-temporarily-close-trading-floor-move-to-electronic-trading-because-of-coronavirus.html">reports</a>. &#8220;The entrants were stopped at the medical screenings at the Big Board.&#8221;
&#8220;We implemented a number a number of safety precautions over the past couple of weeks, and starting on Monday this week we started pre-emptive testing of employees and screening of anyone who came into the building,&#8221; Cunningham<a href="https://www.cnbc.com/closing-bell/"> told</a> CNBC Wednesday. “If that screening warranted additional testing, we tested people and they were sent home and not given access to the building. A couple of those test cases have come back positive.”
&#8220;The facilities to be closed are the NYSE equities trading floor and NYSE American Options trading floor in New York, and NYSE Arca Options trading floor in San Francisco,&#8221; CNBC reports.
The fully electronic trading is set to begin at the open of March 23.
On Wednesday, the &#8220;Trump bull market&#8221; officially lost all of its gains since he first took office in January 2017, with the Dow Jones Industrial Average losing &#8220;more than 30% of its value in just over a month,&#8221; as reported by <a href="https://finance.yahoo.com/news/trump-bump-flattened-post-inauguration-163524922.html">Bloomberg</a>&#8216;s Sarah Ponczek and Vildana Hajric.
&#8220;To be sure, the market surged as soon as Trump was elected, adding close to 8% in the 2 1/2 months before his inauguration, and could of course rise again,&#8221; Ponczek and Hajric note. &#8220;&#8230;The equity market’s ride under the current administration hasn’t always been smooth. In 2018, the S&amp;P 500 dropped a hair shy of 20% before surging 29% the next year, one of the best periods in the last two decades. Before the latest tumble, U.S. companies had added roughly $12 trillion in value under Trump’s tutelage, leaving the president highlighting 401(k) performances as recently as January.&#8221;
Early Thursday, U.S. stock futures made some <a href="https://www.cnn.com/2020/03/18/investing/stock-futures-wednesday-coronavirus/index.html">mild gains</a>, with Dow futures up 0.2%, the S&amp;P futures up 0.1%, and Nasdaq futures up 0.9%.
CNN Business points to the emergency measures taken by the European Central Bank, which announced Thursday that it would pump $821 into the embattled financial system, as having had some positive impact on trading.
The White House is also working on its own emergency stimulus package, which is expected to cost around $1 trillion and include around $500 billion in payroll tax cuts, $250 billion in Small Business Administration (SBA) loans, and around $60 billion for the airline industry as well as other measures. As reported by The Washington Post Wednesday, the package is also expected to include $500 billion in cash payments to qualified Americans. The stimulus package would come in addition to the Senate&#8217;s more modest economic relief package.
Related: <a href="https://www.dailywire.com/news/trump-stimulus-plan-to-give-2000-to-many-americans">Trump Stimulus Plan Aims To Give $2,000 To Many Americans</a>

NYSE

New York Stock Exchange To Close Trading Floor Over Coronavirus

The stock market exploded to its biggest single day point gain in history on Friday in response to a press conference that President Donald Trump held in which he outlined the strong response that the administration was taking to combat the coronavirus.
&#8220;Fueled by a late-day surge while Trump was speaking, the Dow saw its largest percentage gain since 2008,&#8221; the Associated Press reported. &#8220;The rally recouped many of the losses from a day earlier, when the index saw its worst slide since the Black Monday crash of 1987 and European indexes had one of the worst drops on record. The major indexes each closed with gains of more than 9%.&#8221;
The massive surge came after investors were apparently pleased with the administration&#8217;s expansive measures in getting ahead of the coronavirus.
“I will never hesitate to take any necessary steps to protect the lives, health, and safety of the American people,&#8221; Trump said during the press conference. &#8220;I will always put the wellbeing of America first.”
The administration highlighted in a fact sheet the actions that it announced during the press conference to combat the coronavirus:
MOBILIZING ALL FEDERAL RESOURCES: President Donald J. Trump is leveraging the full power of the Federal Government to protect the health and safety of the American people.
<ul>
<li>President Trump is exercising statutory authorities to declare a national emergency in response to the coronavirus.</li>
<li>The unprecedented action the President is taking invites States, territories, and tribes to access over $42 billion in existing funding to combat the coronavirus.
<ul>
<li>The Administration has taken decisive action to ensure State, local, and tribal leaders have the resources they need to provide protective measures for their communities.</li>
<li>The Small Business Administration also has authority and available funding to make over $7 billion in loans to qualifying small businesses to assist economic recovery.</li>
</ul>
</li>
<li>President Trump is directing further actions across his Administration in response to the coronavirus.
<ul>
<li>The Centers for Medicare and Medicaid Services has announced guidance to limit medically unnecessary visits to nursing homes to protect vulnerable elderly Americans</li>
<li>The Secretary of the Education will be waiving interest on all student loans held by the Federal Government.</li>
<li>The President is directing the Department of Energy to purchase large quantities of crude oil for the strategic reserve.</li>
</ul>
</li>
<li>The President is urging every State to set up emergency operational centers and is asking every hospital to activate its emergency preparedness plan.</li>
</ul>
EMPOWERING HEALTHCARE PROVIDERS: The President’s emergency declaration will give healthcare providers on the front lines of this pandemic the flexibility they need to respond.
<ul>
<li>President Trump continues to cut through every piece of unnecessary red tape that may hinder our response efforts and make every Federal resource available.</li>
<li>The President will empower the Secretary of Health and Human Services (HHS) to waive provisions of certain laws and regulations and give maximum flexibility to healthcare providers to care for their patients.</li>
<li>The declaration will provide HHS with critical authorities to waive:
<ul>
<li>Certain laws to enable telehealth, remote doctors’ visits, and hospital check-ins</li>
<li>Licensing requirements so doctors from other states can provide services in areas with the greatest need.</li>
<li>Critical Access Hospital requirements to allow those hospitals to have more beds and longer lengths of stay</li>
<li>The requirement of a 3-day hospital stay prior to admission to a nursing home.</li>
<li>Rules hindering hospitals’ ability to bring additional physicians on board or obtain needed office space.</li>
<li>Restrictions on where hospitals can care for patients.</li>
</ul>
</li>
<li>The Administration will be working to eliminate every obstacle possible to ensure healthcare providers can deliver Americans the care they need.</li>
</ul>
RAPIDLY EXPANDING TESTING: The Trump Administration is working to rapidly expand coronavirus testing across the nation and make sure Americans who need them have access.
<ul>
<li>President Trump is mobilizing resources across the Federal Government to accelerate testing and expand access for more Americans.
<ul>
<li>The President wants to make sure that those who need a test can get a test safely, quickly, and conveniently.</li>
</ul>
</li>
<li>The Administration is working with the private sector to open up drive-through testing collection sites in critical areas impacted by the coronavirus.</li>
<li>The Administration is working with Google to develop a website Americans can go to determine whether a test is needed and, if so, facilitate testing at a nearby location.</li>
<li>The Food and Drug Administration is issuing emergency authorization for new commercial coronavirus tests that will help significantly expand testing across the country.
<ul>
<li>One new test produced by Roche has already been authorized and authorization is coming for another test very shortly.</li>
<li>Up to 2 million additional tests are expected to be available next week thanks to these efforts.</li>
</ul>
</li>
<li>President Trump and his Administration are working to provide maximum flexibility for States to approve labs for coronavirus testing.</li>
<li>HHS recently announced it is providing funding to help accelerate the development of two rapid diagnostic tests.</li>
<li>The Administration has designated Assistant Secretary for Health Brett Giroir to take the lead in coordinating testing efforts to ensure seamless access for patients, doctors, and hospitals.</li>
<li>The Administration continues to cut red tape that restricted who qualifies for testing.</li>
</ul>

Fed Meets As Speculation Builds On Possible Rate Cut

The Dow Has Biggest One Day Gain EVER In Response To Trump Press Conference

Donald Trump

After the worst losses since the 1987 &#8220;Black Monday&#8221; market crash, U.S. stock futures surged early Friday, reaching their &#8220;limit up&#8221; level of 5% and setting expectations for a significant rebound after the S&amp;P fell 9.5% Thursday. The movement follows signals from House Democrats that they are close to working out an economic relief deal with President Trump, who has laid out a series of emergency relief measures, including payroll tax cuts through the end of the year.
&#8220;S&amp;P 500 futures jumped more than 5% to reach their &#8216;limit up&#8217; level,&#8221; <a href="https://www.cnbc.com/2020/03/12/futures-stock-market-coronavirus-concerns.html">CNBC</a> reported Friday morning, in reference to the ceiling set for buying ahead of regular trading. When trading opened, stocks took off. &#8220;The Dow Jones Industrial Average soared 1,000 points at the open, or 4.7%,&#8221; CNBC reports. &#8220;At one point, the Dow was on pace for its biggest one-day gain since March 2009. The S&amp;P 500 jumped 5.2% while the Nasdaq Composite surged 5%.&#8221;
As CNBC notes, the positive movement — which includes major gains for Apple (up nearly 7%), Delta (14%), United (9.5%), American (9.2%) and JetBlue (3.6%) — follows Pelosi telling the press Thursday night that House Democrats and the White House have &#8220;resolved most of our differences.&#8221;
On Wednesday, the Democrats unveiled a multi-billion-dollar relief package, which was immediately criticized by Republicans for including non-coronavirus-specific items and <a href="https://www.politico.com/news/2020/03/11/nancy-pelosi-coronavirus-stimulus-package-125564">no price tag</a>. On the same day, Trump delivered a televised address in which he detailed a series of <a href="https://www.dailywire.com/news/unprecedented-trump-details-emergency-financial-actions-payroll-tax-cuts-financial-aid-loans">&#8220;unprecedented&#8221; economic relief measures</a>,
While the president repeatedly assured Americans that this will not turn into a &#8220;financial crisis,&#8221; but is rather &#8220;just a temporary moment of time that we will overcome together as a nation and as a world,&#8221; he also acknowledged the need for decisive federal action. To address the pandemic, Trump spelled out three key economic relief measures.
&#8220;[T]o provide extra support for American workers, families, and businesses, tonight I am announcing the following additional actions,&#8221; said the president. The first involved loans to particularly hard-hit companies.
&#8220;I am instructing the Small Business Administration to exercise available authority to provide capital and liquidity to firms affected by the coronavirus,&#8221; said Trump. &#8220;Effective immediately, the SBA will begin providing economic loans in affected states and territories.  These low-interest loans will help small businesses overcome temporary economic disruptions caused by the virus.  To this end, I am asking Congress to increase funding for this program by an additional $50 billion.&#8221;
The next measure he outlined is more than $200 billion in deferred tax payments. &#8220;Using emergency authority, I will be instructing the Treasury Department to defer tax payments, without interest or penalties, for certain individuals and businesses negatively impacted,&#8221; he said, estimating that the action would  &#8220;provide more than $200 billion of additional liquidity to the economy.&#8221;
&#8220;Finally, I am calling on Congress to provide Americans with immediate payroll tax relief.  Hopefully they will consider this very strongly,&#8221; he said.
The president has since repeatedly pushed his payroll tax relief recommendation to Congress. &#8220;If you want to get money into the hands of people quickly &amp; efficiently, let them have the full money that they earned, APPROVE A PAYROLL TAX CUT until the end of the year, December 31. Then you are doing something that is really meaningful. Only that will make a big difference!&#8221; Trump <a href="https://twitter.com/realDonaldTrump/status/1238442385048305664">tweeted</a> Friday morning.

Stocks Surge As Trump, Pelosi Near Economic Relief Deal

Economy

Stock market trading was temporarily halted Thursday morning after U.S. equities fell 7%, triggering the automatic circuit breaker.
&#8220;U.S. stocks hit critical circuit breaker levels on Thursday minutes after the opening bell for the second time this week as global markets plunged amid investor fears about the coronavirus global pandemic,&#8221; <a href="https://www.cnbc.com/2020/03/12/stock-futures-hit-a-limit-down-trading-halt-for-a-second-time-this-week-heres-what-that-means.html">CNBC</a> reported Thursday morning. &#8220;Just as they did on Monday, the S&amp;P 500 hit exchanges’ 7% threshold decline in morning trading, halting trade during regular market hours for 15 minutes to ensure order in the marketplace.&#8221;
In addition to U.S. equities, futures likewise fell 7% and were halted, <a href="https://www.bloomberg.com/news/articles/2020-03-11/asia-stocks-set-for-losses-dow-enters-bear-market-markets-wrap">Bloomberg News</a> notes, while European stocks &#8220;tumbled more than 8%.&#8221;
&#8220;Trading resumed at 9:50 a.m. ET, with both the S&amp;P 500 and Dow Jones Industrial Average extending losses immediately after the restart,&#8221; CNBC reports. &#8220;The S&amp;P 500 was last seen down 8% and the Dow was down 9%.&#8221;
Thursday&#8217;s decline in stocks, Bloomberg&#8217;s analysts say, appears to largely be inspired by investors wanting more aggressive responses by the U.S. and Europe than their governments have thus far taken.
&#8220;President Donald Trump’s travel ban and tepid fiscal measures sparked the latest leg down in risk assets, while the European Central Bank failed to stem the rout after it left rates unchanged, though it temporarily increased its QE program and took steps to boost liquidity,&#8221; Bloomberg&#8217;s Sam Potter and Jeremy Herron write.
On Wednesday night, President Trump announced a series of &#8220;unprecedented&#8221; measures to address the growing crisis, including a 30-day restriction on travel from Europe to the U.S.
&#8220;To keep new cases from entering our shores, we will be suspending all travel from Europe to the United States for the next 30 days,&#8221; Trump said in a televised address. &#8220;The new rules will go into effect Friday at midnight.  These restrictions will be adjusted subject to conditions on the ground. There will be exemptions for Americans who have undergone appropriate screenings, and these prohibitions will not only apply to the tremendous amount of trade and cargo, but various other things as we get approval.  Anything coming from Europe to the United States is what we are discussing.  These restrictions will also not apply to the United Kingdom.&#8221;
The president also announced <a href="https://www.dailywire.com/news/unprecedented-trump-details-emergency-financial-actions-payroll-tax-cuts-financial-aid-loans">emergency financial measures</a> his administration is taking, including ordering the Small Business Administration (SBA) to &#8220;provide capital and liquidity to firms affected by the coronavirus,&#8221; ordering the Treasury Department &#8220;to defer tax payments, without interest or penalties, for certain individuals and businesses negatively impacted,&#8221; and calling on Congress &#8220;to provide Americans with immediate payroll tax relief.&#8221;
As Bloomberg details, the response from the stock market to the actions of the U.S. and Europe thus far has been more losses, with the S&amp;P 500 &#8220;headed for a bear market, with losses from its February closing record to 25%&#8221; and the Dow Jones Industrial Average sinking &#8220;deeper into bear territory after its record bull run ended Wednesday.&#8221;
In his address Wednesday, Trump assured Americans that our economy was robust enough to weather the pandemic. “Our banks and financial institutions are fully capitalized and incredibly strong. Our unemployment is at a historic low. This vast economic prosperity gives us flexibility, reserves, and resources to handle any threat that comes our way,&#8221; the president said. &#8220;This is not a financial crisis, this is just a temporary moment of time that we will overcome together as a nation and as a world.&#8221;
</div>
Related: <a href="https://www.dailywire.com/news/unprecedented-trump-details-emergency-financial-actions-payroll-tax-cuts-financial-aid-loans">‘Unprecedented’: Trump Details Emergency Financial Actions: Payroll Tax Cuts, Financial Aid, Loans</a>
This article has been expanded to include more information.

Stock Exchange

Trading Halted On Wall Street After Dow Plummets

Trump Administration

The stock market roared back from an abysmal week last week in response to fears over how the spread of the coronavirus could impact business around the world.
&#8220;The Dow Jones Industrial Average closed 1,293.96 points higher, or 5.1%, at 26,703.32,&#8221; CNBC <a href="https://www.cnbc.com/2020/03/01/awaiting-us-stock-futures-open-at-6-pm-after-wall-streets-worst-week-since-2008.html">reported</a>. &#8220;The move on a percentage basis was the Dow’s biggest since March 2009. It was also the largest-ever points gain for the 30-stock average.&#8221;
&#8220;The S&amp;P 500 climbed 4.6% — its best one-day performance since Dec. 26, 2018 — to close at 3,090.23,&#8221; CNBC added. &#8220;The Nasdaq Composite also had its best day since 2018, surging 4.5% to 8,952.16.&#8221;
Politico reported that the stock market&#8217;s strong day happened because &#8220;investors are increasingly anticipating that the Federal Reserve and other major central banks around the world will lower interest rates or take other steps to shield the global economy from the effects of the outbreak.&#8221;
Sam Stovall, chief investment strategist at CFRA, <a href="https://www.politico.com/news/2020/03/02/dow-surges-central-bank-help-economy-118907">told</a> Politico, “Investors have convinced themselves that global central banks will likely be even more accomodative in order to short-circuit any psychological damage.”
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
&quot;It&#39;s pretty stunning.&quot; 📈📈📈
Dow Jones +5.1% (biggest point gain ever) S&amp;P 500 +4.6% Nasdaq +4.5% <a href="https://t.co/YtbcII2GKQ">pic.twitter.com/YtbcII2GKQ</a>
&mdash; Steven Cheung (@CaliforniaPanda) <a href="https://twitter.com/CaliforniaPanda/status/1234602798139965442?ref_src=twsrc%5Etfw">March 2, 2020</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
The stock market bump came as Trump met with the heads of major pharmaceutical companies on Monday in an effort to push them to develop a vaccine for the coronavirus ahead of schedule and to ensure that supply chains would not be disrupted due to lowered manufacturing in China.
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
I am meeting with the major pharmaceutical companies today at the White House about progress on a vaccine and cure. Progress being made!
&mdash; Donald J. Trump (@realDonaldTrump) <a href="https://twitter.com/realDonaldTrump/status/1234455007765942273?ref_src=twsrc%5Etfw">March 2, 2020</a></blockquote>
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A report last year from he prestigious Johns Hopkins Bloomberg School of Public Health found that the United States was by far the most prepared nation to handle an epidemic.
The report <a href="https://www.ghsindex.org/wp-content/uploads/2019/10/2019-Global-Health-Security-Index.pdf">stated</a> regarding its evaluations of each nation:
<blockquote>Among its 140 questions, the [Global Health Security (GHS)] Index prioritizes not only countries’ capacities, but also the existence of functional, tested, proven capabilities for stopping outbreaks at the source. Several questions in the GHS Index are designed to determine not only whether a capacity exists, but also whether that capacity is regularly—for example, annually—tested and shown to be functional in exercises or real-world events.
The GHS Index also includes indicators of nations’ capacities and capabilities to reduce Global Catastrophic Biological Risks (GCBRs), which are biological risks of unprecedented scale that could cause severe damage to human civilization at a global level, potentially undermining civilization’s long-term potential. These are events that could wipe out gains in sustainable development and global health because of their potential to cause national and regional instability, global economic consequences, and widespread morbidity and mortality.</blockquote>
The 140 GHS Index questions are organized across seven categories:
<ol>
<li>Overall</li>
<li>Prevention: Prevention of the emergence or release of pathogens</li>
<li>Detection and Reporting: Early detection and reporting for epidemics of potential international concern</li>
<li>Rapid Response: Rapid response to and mitigation of the spread of an epidemic</li>
<li>Health System: Sufficient and robust health system to treat the sick and protect health workers</li>
<li>Compliance with International Norms: Commitments to improving national capacity, financing plans to address gaps, and adhering to global norms</li>
<li>Risk Environment: Overall risk environment and country vulnerability to biological threats</li>
</ol>
The report ranked the United States:
<ol>
<li>Overall: #1</li>
<li>Prevention: #1</li>
<li>Detection and Reporting: #1</li>
<li>Rapid Response: #2</li>
<li>Health System: #1</li>
<li>Compliance with International Norms: #1</li>
<li>Risk Environment: #19</li>
</ol>
This report has been updated to include additional information.

A view of the New York Stock Exchange, or NYSE, which is the

Stock Market Surges Back With Biggest Day In Years

Fox Business host Charles Payne said on Monday that the rise of socialist Bernie Sanders in the Democrat primary is in part to blame for the stock market taking a massive dive today.
The Wall Street Journal <a href="https://www.wsj.com/articles/stocks-fall-as-coronavirus-spread-accelerates-outside-china-11582533308">reported</a>:
<blockquote>The Dow Jones Industrial Average dropped more than 1,000 points—its biggest point decline in more than two years; the yield on the benchmark 10-year Treasury note approached a record low; and gold prices climbed for the eighth straight session to a seven-year high.</blockquote>
&#8220;I will say the epicenter of this, today’s specific sell-off, is not China,&#8221; Payne said. &#8220;I think it’s Italy. I was watching really closely almost every single moment over the weekend, when Italy started to report these cases. It felt haphazard, it felt confusing.&#8221;
Fox News co-host Ed Henry asked Payne, &#8220;Is the sell off all coronavirus or is this the first time in the markets are open since Bernie Sanders took control of the Democratic battle?&#8221;
&#8220;The Bernie factor is finally rearing its head in the stock market,&#8221; Payne responded. &#8220;Molina Health, one of the biggest health insurance in this country, is down 8%. United Health is down over 6%. Anthem is down 5%. Hospital stocks are getting hit. Drug stocks are down 4%”
Co-host Sandra Smith pressed, &#8220;you attribute that to Bernie Sanders?&#8221;
&#8220;There’s absolutely no doubt,&#8221; Payne responded. These stocks got hammered when Elizabeth Warren was in the lead and when she had her biggest point of leading in the polls all of these stocks were under an extreme amount of pressure.&#8221;
Payne noted that as Warren&#8217;s candidacy began to tank that those companies rebounded in the stock market.
WATCH:
<iframe title="Charles Payne" width="500" height="281" src="https://www.youtube.com/embed/hlIRmBl3sZw?feature=oembed" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe>
Billionaire philanthropist Leon Cooperman warned last week that Sanders posed greater threat to the economy than the coronavirus.
&#8220;In all honesty, I don’t have any insight into the coronavirus beyond what everyone else has, but I assume, with all the great minds of the world focused on this problem, that in three or four months this will become resolved, much the way SARS and the Ebola virus were dealt with,&#8221; Cooperman <a href="https://www.dailywire.com/news/billionaire-philanthropist-on-sanders-effect-on-market-a-bigger-threat-than-the-coronavirus">said</a>. &#8220;Bernie Sanders, if you listened to his proposals, it’s only a six-trillion-dollar annual deficit; I think he’s misrepresenting himself; he is not a socialist, but he’s rather a communist, and there’s a difference between socialists and communists. Socialists advocate a redistribution of wealth; communists advocate nationalizing the means of production and tearing down the house that wealth has built.&#8221;
Cooperman concluded, &#8220;All you have to do is read The Wall Street Journal this past Saturday on Bernie to understand what he stands for. And the fact that he’s doing so well in the polls is troublesome. I just hope the country is not prepared to elect a communist or socialist; if we do, then I think that the market is in store for a big problem.&#8221;

Democratic Presidential Candidates Attend First In The South Dinner In South Carolina

‘ABSOLUTELY NO DOUBT’: Money Analyst Points To Bernie As Stocks Tank

In a televised statement Wednesday, President Trump addressed Iran&#8217;s attack on two military bases in Iraq and announced that no U.S. or Iraqi personnel were killed and that Iran &#8220;appears to be standing down.&#8221; The announcement sent stocks soaring, both the Nasdaq Composite and the S&amp;P 500 reaching all-time highs, while the Dow Jones jumped over 250 points.
&#8220;I am pleased to inform you, the American people should be extremely grateful and happy: No Americans were harmed in last night’s attack by the Iranian regime,&#8221; President Trump <a href="https://www.dailywire.com/news/breaking-trump-addresses-nation-after-attack-no-lives-lost-iran-appears-to-be-standing-down">told</a> the nation Wednesday morning following the Tuesday night attacks by Iran (video of address below). &#8220;We suffered no casualties, all of our soldiers are safe, and only minimal damage was sustained at our military bases.&#8221;
&#8220;Our great American forces are prepared for anything,&#8221; said the president, adding later that no lives were lost &#8220;because of the precautions taken, the dispersal of forces, and an early warning system that worked very well.&#8221;
After launching the missile strikes, which Iran declared a retaliation for the Trump-ordered airstrike that took out Iran&#8217;s top military leader, General Qassem Soleimani, Iran has indicated that it wants to de-escalate, a point that Trump stressed in his statement. &#8220;Iran appears to be standing down, which is a good thing for all parties concerned, and a very good thing for the world,&#8221; he said.
As reported by <a href="https://www.cnbc.com/2020/01/08/stock-markets-today-us-futures-fall-following-attack-in-iraq.html">CNBC</a>, the stock market responded with a &#8220;sigh of relief&#8221; to Trump&#8217;s announcement. &#8220;Stocks rose sharply on Wednesday after President Donald Trump spoke about an attack by Iran on an Iraqi airbase that houses American troops, which had led to a massive sell-off in overnight trading,&#8221; CNBC reported Wednesday. &#8220;The Dow Jones Industrial Average gained 255 points, or 0.9%. The Nasdaq Composite advanced 1% and hit an all-time high. The S&amp;P 500 climbed 0.8% and hit a record high as well.&#8221;
In his statement Wednesday morning, President Trump made clear that his administration will not allow Iran to continue to carry out its &#8220;destructive and destabilizing behavior&#8221; in the region, saying &#8220;those days are over,&#8221; but also indicated that he does not intend to escalate the situation through further military action, instead announcing new economic sanctions on Iran.
As Trump referenced, Iran has signaled that it hopes to de-escalate, Iran’s Foreign Minister Javad Zarif issuing a statement late Tuesday stating that Iran does “not seek escalation or war” and suggesting that the missile attack on the two Iraqi bases was the extent of its “proportionate” response.
“Iran took &amp; concluded proportionate measures in self-defense under Article 51 of UN Charter targeting base from which cowardly armed attack against our citizens &amp; senior officials were launched,” Zarif <a href="https://twitter.com/JZarif/status/1214736614217469953?s=20" target="_blank" rel="noopener noreferrer">tweeted</a> after the attack Tuesday night. “We do not seek escalation or war, but will defend ourselves against any aggression.”
In his televised statement, Trump also took time to defend his decision to order the strike that took out Soleimani, head of the Iranian Revolutionary Guard Corps-Quds Force, a U.S.-designated Foreign Terrorist Organization <a href="https://www.dailywire.com/news/state-dept-iranian-general-killed-in-u-s-strike-responsible-for-17-of-american-deaths-in-iraq">responsible</a> for killing hundreds of Americans during the Iraq War.  
“Last week, we took decisive action to stop a ruthless terrorist from threatening American lives,” Trump explained. “At my direction the United States Military eliminated the world’s top terrorist, Qassem Soleimani. As the heads of the Quds Force, Soleimani was personally responsible for some of the absolutely worst atrocities. He trained terrorist armies, including Hezbollah, launching terrorist strikes against civilian targets. He fueled bloody civil wars all across the region. He viciously wounded and murdered thousands of U.S. troops, including the planting of roadside bombs that maim and dismember their victims. Soleimani directed the recent attacks on U.S. personnel in Iraq that badly wounded four service members and killed one American, and he orchestrated the violent assault on the U.S. Embassy in Baghdad. In recent days, he was planning new attacks on American targets, but we stopped him.”
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
LIVE: President <a href="https://twitter.com/realDonaldTrump?ref_src=twsrc%5Etfw">@realDonaldTrump</a> Addresses the Nation <a href="https://t.co/vRH9gVAD0N">https://t.co/vRH9gVAD0N</a>
&mdash; The White House (@WhiteHouse) <a href="https://twitter.com/WhiteHouse/status/1214946620053184513?ref_src=twsrc%5Etfw">January 8, 2020</a></blockquote>
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Related: <a href="https://www.dailywire.com/news/shapiro-trumps-iran-policy-isnt-the-problem-barack-obamas-was">SHAPIRO: Trump’s Iran Policy Isn’t the Problem. Barack Obama’s Was.</a>

Stock Market Indexes Hit All-Time Highs After Trump Announces Iran ‘Standing Down’

Iran

Iranian Revolutionary Guard Corps

Qassem Soleimani

The fallout from the killing of Iran&#8217;s top military leader — General Qasem Soleimani, the head of the Iranian Revolutionary Guard Corps-Quds Force, a U.S.-designated Foreign Terrorist Organization — has reached Wall Street, resulting in stocks falling more than 200 points and oil prices surging.
As reported by<a href="https://www.cnbc.com/2020/01/03/dow-futures-after-us-air-strike-kills-iran-top-military-leader.html"> CNBC</a>, the Dow Jones Industrial Average &#8220;plunged 212 points, or 0.8%,&#8221; Friday morning, while S&amp;P 500 and the Nasdaq Composite likewise shrunk by 0.8%.
&#8220;Stocks fell sharply on Friday after the U.S. confirmed that an airstrike killed Iran’s top military commander, sending oil prices surging and hiking geopolitical concerns,&#8221; CNBC reports, citing expert predictions of a &#8220;volatile&#8221; market over the next week.
The most significant development is a surge in U.S. crude oil futures, which &#8220;shot up around 3.5% to $63.31 per barrel, raising concerns about an energy shock on the global economy,&#8221; according to CNBC. The climbing oil prices have impacted airline stocks, which &#8220;fell broadly on the threat of higher oil prices,&#8221; with United, American and Delta&#8217;s stocks all dropping more than 2%, the network notes.
The stock market shakeup comes amid reports of a strategic airstrike by a U.S. MQ-9 Reaper drone, which fired missiles onto a convoy leaving Baghdad International Airport early Friday. The main target of the attack was Soleimani, who the U.S. says is responsible for <a href="https://www.dailywire.com/news/state-dept-iranian-general-killed-in-u-s-strike-responsible-for-17-of-american-deaths-in-iraq">17 percent</a> of the deaths of U.S. soldiers during the Iraq War (2003-2011) and was &#8220;actively developing plans to attack American diplomats and service members in Iraq and throughout the region.&#8221;
The strike targeting the Iranian military leader followed an attack on the U.S. Embassy in Baghdad on Tuesday orchestrated by Iran-backed militias and &#8220;approved&#8221; by Soleimani, according to the U.S. Department of Defense.
&#8220;General Soleimani was actively developing plans to attack American diplomats and service members in Iraq and throughout the region,&#8221; the Defense Department revealed in a statement following the successful strike. &#8220;General Soleimani and his Quds Force were responsible for the deaths of hundreds of American and coalition service members and the wounding of thousands more,” the statement continued. “He had orchestrated attacks on coalition bases in Iraq over the last several months – including the attack on December 27th – culminating in the death and wounding of additional American and Iraqi personnel. General Soleimani also approved the attacks on the U.S. Embassy in Baghdad that took place this week.&#8221;
The strike also killed top Iraqi paramilitary commander Abu Mahdi al-Mohandes, who headed the Iranian-backed Popular Mobilization Forces (PMF).
Amid the rapidly escalating tensions in the region, the U.S. State Department has <a href="https://www.dailywire.com/news/u-s-state-department-instructs-u-s-citizens-in-iraq-to-leave-immediately">instructed</a> U.S. citizens in Iraq to evacuate the country &#8220;immediately&#8221; and has suspended consular operations at the U.S. Embassy.
&#8220;Due to heightened tensions in Iraq and the region, we urge U.S. citizens to depart Iraq immediately,&#8221; the State Department announced early Friday. &#8220;Due to Iranian-backed militia attacks at the U.S. Embassy compound, all consular operations are suspended. U.S. citizens should not approach the Embassy.&#8221;
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
<a href="https://twitter.com/hashtag/Iraq?src=hash&amp;ref_src=twsrc%5Etfw">#Iraq</a>: Due to heightened tensions in Iraq and the region, we urge U.S. citizens to depart Iraq immediately. Due to Iranian-backed militia attacks at the U.S. Embassy compound, all consular operations are suspended. U.S. citizens should not approach the Embassy. <a href="https://t.co/rdRce3Qr4a">pic.twitter.com/rdRce3Qr4a</a>
&mdash; Travel &#8211; State Dept (@TravelGov) <a href="https://twitter.com/TravelGov/status/1213011491777060864?ref_src=twsrc%5Etfw">January 3, 2020</a></blockquote>
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In a series of statements on social media Friday, Iranian Supreme Leader Ayatollah Ali Khamenei declared Soleimani a &#8220;martyrdom&#8221; and vowed &#8220;<a href="https://www.dailywire.com/news/severe-revenge-irans-supreme-leader-top-officials-vow-attacks-on-u-s">severe revenge</a>&#8221; on &#8220;the criminals&#8221; responsible for his death. &#8220;[Soleimani&#8217;s] efforts and path won’t be stopped by his martyrdom, by God’s Power, rather a severe revenge awaits the criminals who have stained their hands with his and the other martyrs’ blood last night,&#8221; Khamenei wrote (formatting adjusted). &#8220;Martyr Soleimani is an international figure of Resistance and all such people will seek revenge.&#8221;
Related: <a href="https://www.dailywire.com/news/trump-lays-out-case-for-killing-iranian-general-taunts-tehran">Trump Lays Out Case For Killing Iranian General, Taunts Tehran</a>

Attack On U.S. Embassy in Baghdad

Stock Market Responds To U.S. Killing Iran’s Top Military Leader

Islamic Revolutionary Guard Corps

President Donald Trump has used Twitter to forge trade deals and impact foreign policy, but now a major financial services company wants to know how quickly and dramatically Trump&#8217;s tweets affect its investors&#8217; bottom lines.
JP Morgan announced this weekend that its market analysts have launched a &#8216;Volfefe&#8217; index — a play on the President&#8217;s notorious &#8220;Covfefe&#8221; tweet — to track how the president&#8217;s social media missives impact the stocks and bonds markets, so that they can determine whether recent changes in interest rates can be traced back to Trump&#8217;s Twitter habit.
&#8220;Trade and monetary policy have become an increasing focus for the executive branch, and everything from casual sentiments to seemingly formal policy intentions have been disseminated, globally and instantaneously, via this carefully scrutinised social media platform,” according to a press release from JP Morgan. “In response, a broad swathe of assets from single-name stocks to macro products have found their price dynamics increasingly beholden to a handful of tweets from the commander in chief.”
According to the company&#8217;s findings, Trump&#8217;s habit of using social media to ink policy — especially trade policy — definitely makes a difference in whether their clients are able to make money and whether federal interest rates stay stable.
“This makes rough sense as much of the president’s tweets have been focused on the Federal Reserve, and as trade tensions are broadly seen as, first and foremost, impactful on near-term economic performance and, likewise, the Fed’s reaction to such developments,” <a href="https://www.cnbc.com/2019/09/08/donald-trump-is-tweeting-more-and-its-impacting-the-bond-market.html">the index authors told CNBC</a>.
JP Morgan may have just discovered what others have long known, though. <a href="https://finance.yahoo.com/news/trumps-twitter-habit-costs-investors-amid-trade-war-bofa-215054408.html">Bank of America commissioned a similar study</a> earlier in the year and found that the president&#8217;s tweets can have a dramatic impact on company stock prices if he targets a specific business, and the impact can go either way. Companies on the receiving end of Trump Twitter commentary saw both positive and negative returns from the attention, accordng to BoA&#8217;s analysts.
<a href="https://www.forbes.com/sites/simonmoore/2019/01/10/how-trumps-tweets-impact-stocks/#57d45c196af3">Forbes discovered, independently</a>, back in January, that the president&#8217;s habit of naming specific companies, like Boeing, in his tweets brought attention specifically to those companies and drove investor interest and changes in that company&#8217;s stock price.
All three studies do come with important caveats that indicate that while the president&#8217;s influence on markets is initially very significant, his long term impact is slight. Forbes, specifically, found that Trump&#8217;s tweets could make a company&#8217;s stock price fluctuate by as much as 5% on a single day, but rarely did his opinion mean even a week-long slump.
Trump&#8217;s tweets, Forbes found, &#8220;didn&#8217;t move the market in any significant fashion.&#8221;
The same goes for the bond market and for interest rates. It turns out that it&#8217;s not specifically the president&#8217;s tweets that cause market volatility, but the uncertainty forged by the administration&#8217;s overall economic policy. Pending trade wars, changes to the Federal Reserve, and a potential manufacturing slowdown — as well as a quickly cycling media — all create investor anxiety.
What JP Morgan did find is that it&#8217;s fairly easy to predict exactly which tweets will make an impact. Of 4,000 individual non-retweets from the president&#8217;s account, only around 146 actually moved the market. Almost all of those tweets featured one of a handful of keywords: &#8220;China,&#8221; &#8220;Democrats,&#8221; &#8220;billion,&#8221; &#8220;products,&#8221; and &#8220;great.&#8221;

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