Month: January 2021

The Dow Jones Industrial Average gained 300.19 points while the S&P 500 climbed 0.98% and the Nasdaq Composite increased 0.50% as U.S. markets rebounded on Thursday.  Brokerage firms took steps to restrict an influx of transactions on heavily shorted stocks, after the stock trading app Robinhood restricted trades involving GameStop, AMC, Blackberry, and Nokia. 

All four stocks plummeted Thursday; they were popular on Reddit r/WallStreetBets, where users banded together to drive up prices of such stocks despite traditional hedge funds that had shorted them. AMC fell 56.63%, GameStop dropped 44.29%, Blackberry fell 41.63% and Nokia slipped 28.4%.

Robinhood said it restricted trading in the stocks “in light of recent volatility” and also updated its instructional tools to help people “educate themselves, including how to make sense of a volatile market.”

Stocks soar as GameStop, AMC get pounded

Via www.foxbusiness.com

U.S. equity markets rallied Thursday as heavy trading in shares of GameStop, AMC and others…

01/28/2021 5:30 PM

 

Health officials in South Carolina announced Thursday that they have identified two cases of a COVID-19 variant that emerged recently in South Africa. The two cases are the first found of the mutated virus in the United States. According to South Carolina’s Department of Health and Environmental Control, federal officials identified the B.1.351 variant in adults from the state’s Lowcountry and Pee Dee regions. The patients have not traveled internationally and did not know each other.

Interim DHEC Public Health Director Dr. Brannon Traxler said in a statement, “The arrival of the SARS-CoV-2 variant in our state is an important reminder to all South Carolinians that the fight against this deadly virus is far from over. While more COVID-19 vaccines are on the way, supplies are still limited. Every one of us must recommit to the fight by recognizing that we are all on the front lines now. We are all in this together.”

New variants first reported in Britain and South Africa are said to be more transmissible, but most experts have said the available vaccines from Pfizer and Moderna should also be effective against the mutated strains.

First U.S. cases of COVID-19 variant from South Africa found in South Carolina

Via www.cbsnews.com

A new and highly contagious coronavirus variant first identified in South Africa has been found…

01/28/2021 1:29 PM

 

On Tuesday, a federal judge in Texas temporarily blocked President Joe Biden’s 100-day pause on deportations. Federal Judge Drew Tipton granted a temporary restraining order in response to a lawsuit by state Attorney General Ken Paxton, which in part cited an agreement between Texas and the U.S. Department of Homeland Security that required the agency to consult the state before instituting policy changes.

Judge Tipton explicitly stated his order applies nationwide and effectively directed Immigration and Customs Enforcement to resume deportations for at least 14 days as he considers a broader motion for a preliminary injunction.  He wrote, “The issues implicated by that agreement are of such gravity and constitutional import that they require further development of the record and briefing prior to addressing the merits.”

Last week, Biden halted all deportations to “review and reset enforcement priorities” after the Trump administration instituted a “zero tolerance” policy for undocumented migrants. The order included exceptions for migrants who have engaged in or were suspected of terrorism or espionage or considered a threat to national security as well as allowing the ICE administrator to intervene in individual deportation cases.

Judge temporarily blocks Biden’s plan to halt deportations

Via www.msn.com

The early defeat demonstrates the limits of President Joe Biden’s executive actions, which are…

01/26/2021 4:12 PM

 

Editorial credit: vasilis asvestas / Shutterstock.com

On Tuesday, the Senate confirmed Antony Blinken to serve as President Joe Biden’s secretary of state, with an overwhelming 78-22 vote. Blinken served as deputy secretary of state under former President Barack Obama.

Blinken, 58, a foreign policy expert, played a key role in crafting U.S. foreign policy actions in the Middle East. He is considered by many a moderate and is expected to play a key role in rejoining the United States to the Paris Climate Agreement.

Blinken joins several others confirmed to Biden’s Cabinet in recent days, including Treasury Secretary Janet Yellen, Defense Secretary Lloyd Austin, national security adviser Jake Sullivan and Director of National Intelligence Avril Haines.

Senate confirms Antony Blinken as Biden’s secretary of state

Via www.msn.com

In a strong show of bipartisan support, the Senate voted 78 to 22 to confirm Antony…

01/26/2021 4:59 PM

 

Editorial credit: vasilis asvestas / Shutterstock.com