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World Dow jumps 300 points as Trump admin begins transition to Biden

18:00  24 november  2020
18:00  24 november  2020 Source:   aljazeera.com

Joe Biden’s foreign policy vision takes shape as he selects his team

  Joe Biden’s foreign policy vision takes shape as he selects his team Biden’s foreign policy team is predictable. That’s not a bad thing.“It’s a team that will keep our country and our people safe and secure,” Biden said Tuesday, introducing his nominees. “And it’s a team that reflects the fact that America is back.

Futures on the Dow Jones Industrial Average gained 200 points . The move higher in futures came after General Services Administration chief Emily Murphy told President-elect Joe Biden that the Trump administration is making federal resources available for his transition into office.

Biden said the delayed transition was an “embarrassment” and his team’s inability to begin coordinating Emily Murphy, a Trump appointee, drew criticism for initially refusing to sign a letter allowing Her point , however, was almost immediately contradicted by Donald Trump , who tweeted

Wall Street’s main stock indexes vaulted out of the gate on Tuesday after President Donald Trump okayed the formal transition of power to the incoming President-elect Joe Biden’s administration, ending months of political uncertainty that took markets on a wild ride.

a young girl standing on a sidewalk: Wall Street's major stock indexes were all up at the open of trading on Tuesday after the Trump administration formally began the transition of power to a Biden administration [File: Shannon Stapleton/Reuters] © Wall Street's major stock indexes were all up at the open of trading on Tuesday after the Trump admi... Wall Street's major stock indexes were all up at the open of trading on Tuesday after the Trump administration formally began the transition of power to a Biden administration [File: Shannon Stapleton/Reuters]

The Dow Jones Industrial Average opened up more than 305 points or points or just over 1 percent at 29,896.34.

Trump says DOJ 'missing in action' on alleged election fraud

  Trump says DOJ 'missing in action' on alleged election fraud Trump says DOJ 'missing in action' on alleged election fraudTrump says DOJ 'missing in action' on alleged election fraud

Biden Wins Transition Access as Trump Promises to Cooperate. Biden and Vice President-elect Kamala Harris may also soon begin receiving classified intelligence briefings. Lawmakers and national security experts had warned that without the information, the incoming administration was being kept

Donald Trump has accepted a formal US transition should begin for President-elect Joe Biden to take office. The president said the federal agency Earlier on Monday, Mr Biden unveiled a foreign policy and national security team consisting of old colleagues from his years in the Obama administration .

The broader S&P 500 index – a proxy for the health of retirement and college savings accounts – gained 0.78 percent and the Nasdaq Composite Index vaulted jumped 0.48 percent.

On Monday, Trump said the head of the General Services Administration could go ahead with a transition to Biden’s administration.

Trump confirmed his approval with a tweet that also pledged to “keep up the good fight”.

Meanwhile, Biden’s cabinet is taking shape.

The President-elect is reportedly tapping former Federal Reserve Chair Janet Yellen as his Treasury Secretary – a crucial role always, but especially now given the fragile state of the nation’s economic recovery and fresh financial perils posed by new business-sapping restrictions to curb record-breaking COVID-19 infections and hospitalizations.

Biden to introduce nominees as White House transition begins

  Biden to introduce nominees as White House transition begins US President-elect Joe Biden is to formally introduce his nominees for top national security and foreign policy posts on Tuesday as the White House transition finally gets underway with Donald Trump effectively -- if not explicitly -- admitting defeat. The green-lighting of the transition came after Michigan certified a Biden victory on Monday and more members of Trump's Republican Party came out demanding the impasse end. Trump's long-shotThe green-lighting of the transition came after Michigan certified a Biden victory on Monday and more members of Trump's Republican Party came out demanding the impasse end.

See: Michigan certifies Biden victory as Trump ’s legal team suffers further losses. Soon after, President Donald Trump thanked Murphy for her “dedication and loyalty,” and recommended the transition process begin “in the best interest of our country,” though he still refused to concede.

Citizen free press. Breaking — Trump administration begins formal transition process to Joe Biden … General Services Administration chief Emily Murphy on Monday told President-elect Joe Biden that the Trump administration is making federal resources available for his transition into

To date, the coronavirus has claimed the lives of 257,671 Americans, according to Johns Hopkins University.

State and local governments are urging caution ahead of the Thanksgiving holiday. California, Ohio, North Carolina, and New York are imposing new restrictions.

The nation’s economic recovery was already downshifting as nearly $3 trillion in federal government virus relief aid waned and key programmes expired.

Economists have been sounding the alarm, urging more stimulus to help struggling businesses and households as well as state and local governments.

New York City’s Mayor Bill De Blassio warned on Tuesday that the city needs stimulus aid from the federal government to stay above water.

“If there’s not a stimulus, the state of New York is going to be in dire, dire shape, and, unfortunately, might have to pass on cuts to localities,” de Blassio said a news conference.

Republican Governors Say Biden Transition Must Begin as Trump Tweets 'I Concede Nothing'

  Republican Governors Say Biden Transition Must Begin as Trump Tweets 'I Concede Nothing' Governors Asa Hutchinson and Mike DeWine of Arkansas and Ohio respectively both acknowledged Joe Biden is the current president-elect.Although Joe Biden is expected to take office in January after securing a majority of popular and electoral votes during the presidential election, Trump has refused to concede. Amid his re-election campaign's lawsuits seeking to contradict Biden's win, Trump has not yet initiated the usual transition procedures that give rising presidents access to federal resources necessary to lead.

Jump to navigation. A Trump appointee, Ms Murphy had faced bipartisan criticism for failing to begin the transition process sooner, preventing Mr Biden 's team from working with career agency officials on plans for his administration , including in critical national security and public health areas.

Trump continues to contest election as ‘corrupt’ and ‘fake’ as GSA officially declares president-elect Biden apparent winner. The GSA has allowed for the presidential transition to begin . After a long controversial delay, the agency’s head, Emily Murphy, has sent Joe Biden a letter recognizing him as

More red flags are being waived by the airline industry – a sector of vital importance to national security that has been financially gutted by the pandemic.

Globally, airlines will lose another $39bn next year on top of the $118bn they are expected to bleed out this year the International Air Transport Association (IATA) said on Tuesday.

IATA had forecast back in June $100bn dollars in losses over the two years but with surging coronavirus infections and shutdowns, it upgraded that number to $157bn on Tuesday.

Among stocks to watch on Tuesday:

Tesla Inc shares gained 2.59 percent, putting the electric-car maker on track to hit $500bn in market value on Tuesday.

Tesla’s relentless rise has also boosted Chief Executive Officer Elon Musk’s net worth by $7.2bn to $127.9bn, pushing him past Bill Gates to become the world’s second-richest person, the Bloomberg Billionaires Index said.

On the retail front as we approach Black Friday weekend, shares of Abercrombie & Fitch Co fell 2.3 percent. The apparel retailer outdid Wall Street’s expectations for quarterly profit and sales after it cut costs and saw a spike in online sales, but said it sees net sales in the fourth quarter down 5 percent to 10 percent.

Tiffany & Co’s shares were virtually unchanged after it also beat forecasts for quarterly profit. The US jeweler, which is being bought by French luxury giant LVMH, benefited from an over 70 percent rise in sales in China and recovering demand at home.

In Biden’s hometown, election win brings some hope amid COVID-19 .
Residents of Wilmington, Delaware say they hope Joe Biden’s presidential victory will spur much-needed help.Facing economic woes due to the COVID-19 pandemic, more and more residents have come to the store in Wilmington’s central business district to turn in valuables in exchange for cash, Farrace said.

usr: 0
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