Dow Jones, Russell 2000 at Risk as Senate Blocks Stimulus Checks Vote 2020-12-30 07:30:00 Daniel Moss, Analyst
Dow Jones Industrial Average, Russell 2000, US Senate, Stimulus Payments – Talking Points:
Equity markets traded mixed during APAC trade on year-end flows.
The move to block swift package of enhanced stimulus payments may undermine US benchmark equity indices.
Dow Jones Industrial Average at risk of a short-term pullback as prices carve out a Rising Wedge pattern.
The Russell 2000 may extend its recent slide lower. Advertisement
Asia-Pacific Recap
Equity markets traded mixed during Asia-Pacific trade as investors mulled the pace of global vaccine distributions and squared off their positions ahead of the end of the year.
Associated Press
WASHINGTON (AP) President Donald Trump lashed out at congressional Republicans on Tuesday after the House easily voted to override his veto of a defense policy bill.
A total of 109 Republicans, including Wyoming Rep. Liz Cheney, a member of GOP leadership, joined with Democrats on Monday to approve the override, which would be the first of Trump’s presidency. The Senate is expected to consider the measure later this week.
Trump slammed GOP lawmakers on Twitter, charging that “Weak and tired Republican ‘leadership’ will allow the bad Defense Bill to pass.”
Trump called the override vote a “disgraceful act of cowardice and total submission by weak people to Big Tech. Negotiate a better Bill, or get better leaders, NOW! Senate should not approve NDAA until fixed!!!”
Sen. Hawley will object to Electoral College results, ensuring a doomed fight to overturn Biden s win Christal Hayes and Joey Garrison, USA TODAY
Why does the electoral vote matter more than the popular vote?
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Sen. Josh Hawley, a Missouri Republican, says he will object to the Electoral College results next week when Congress meets to officially certify President-elect Joe Biden s win over President Donald Trump, ensuring a doomed but dramatic congressional fight to overturn Biden s win.
Hawley, a close ally of the president, is the first senator to announce he would back the effort on Jan. 6, ensuring both chambers will debate and be forced to vote on whether to overturn Biden s election win. A faction of conservative House Republicans, led by Mo. Brooks, R-Ala., have already said they will object to electoral votes from some battleground states that Biden won, such as Pennsylvania and Georgia.
With many people anticipating stimulus checks to appear in their bank accounts, there s still an ongoing battle as to if the COVID-19 relief amount should be raised.
Trump announced Sunday night that he had signed the $900 billion COVID-19 stimulus package and the accompanying $1.4 trillion government spending bill, but he did so while also saying Congress needed to make changes to the bill.
Trump, whose own advisors were the architects of the bipartisan agreement, shocked everyone earlier in the week by threatening not to sign the bill. He called it a disgrace and called for an elimination of wasteful spending, as well as an increase in stimulus checks to individual Americans which his own representatives worked to decrease in the first place.