House Republicans pass bill to avert government shutdown
The House passed a bill yesterday to keep the government funded through...
The House passed a bill yesterday to keep the government funded through September, mostly at last year’s funding level, as a Friday deadline to secure new funding or shut down the government looms. It passed essentially along party lines, with one Republican voting against it and one Democrat voting for it. The measure now heads to the Senate, where Republicans will need at least seven votes from Democrats to prevent a filibuster that could block it. The Democrats have their own proposal that aims to give Congress more power over spending as Elon Musk’s DOGE makes cuts.
US to resume aid to Ukraine after progress on potential ceasefire deal
The Trump administration lifted its pause on military...
The Trump administration lifted its pause on military aid and intelligence sharing with Ukraine after Ukraine agreed to an immediate 30-day ceasefire negotiated by the United States—if Russia also agrees. The announcements came following talks between US officials and a Ukrainian delegation in Saudi Arabia. The US said it would present the plan to Russia, where President Donald Trump’s special envoy, Steve Witkoff is expected to travel later this week.
President Trump got a Tesla. The president said he’d buy one of the electric vehicles to support Elon Musk after the car company suffered a major stock sell-off and its showrooms have become targets for protests over his work with DOGE. Musk said in an interview the day before that his government cost-cutting efforts were making it harder to run his businesses. In a Truth Social post, President Trump said “radical left lunatics” were “illegally and collusively” boycotting Tesla, although consumer boycotts are not against the law. Some analysts questioned whether the attempt to help could actually hurt Tesla by even more closely aligning its cars with politics.
The Department of Education will cut about half its staff, CNN reports. President Trump wants to scrap the department entirely.
US job openings increased in January, giving some hope of stability in the labor market, although other recent data showed hiring slowing down.
Former Philippine President Rodrigo Duterte was arrested and will face crimes against humanity charges at the International Criminal Court over deadly anti-drug crackdowns during his rule.
Portugal’s government collapsed after losing a confidence vote in Parliament. A new election will likely be held in May.
Oil settles slightly up on weaker dollar, US economic fears cap gains
(Reuters) -Oil prices settled slightly higher on Tuesday,...
(Reuters) -Oil prices settled slightly higher on Tuesday, helped by weakness in the dollar, but gains were capped by mounting fears of a U.S. economic slowdown and the impact of tariffs on global economic growth.
Brent crude futures settled 28 cents, or 0.4%, higher at $69.56 a barrel after falling as low as $68.63 in early trade. U.S. West Texas Intermediate crude futures gained 22 cents, or 0.3%, to $66.25 a barrel after previous declines.
S&P 500 edges closer to correction as U.S. stocks book more losses Tuesday
U.S. stocks finished lower on Tuesday, extending this...
U.S. stocks finished lower on Tuesday, extending this week's tariff-induced selloff to a second day, despite President Donald Trump appearing to take a step back from his promise to impose 50% tariffs on Canadian steel and aluminum imports, up from the 25% initially planned.
The Dow Jones Industrial Average fell 478.23 points, or 1.1%, to end at 41,433.48, according to Dow Jones Market Data.
The S&P 500 was off 42.49 points, or 0.8%, to finish at 5,572.07.
The Nasdaq Composite edged down 32.23 points, or 0.2%, ending at 17,436.10.
It was a volatile trading session on Wall Street. U.S. stocks plunged deep into the red in the morning session after Trump placed additional tariffs on steel and aluminum imported from Canada, ramping up the trade war with one of the largest trading partners of the United States. The sharp selloff briefly put the S&P 500 on pace for correction territory.
Then, in afternoon action, Wall Street finally got some good news after reports said Ukraine had agreed to a 30-day cease-fire contingent on Russia's participation.
