Wall Street edges up, shaking off healthcare, North Korea worries

NEW YORK - The S&P 500 closed slightly higher on Friday even though Apple was a drag, as worries about Washington's latest healthcare legislation proposal eased and investors shrugged off concerns about North Korea.

Investors in the broader market were also encouraged by a jump in the Russell 2000 small-cap index, which ended with a record high close.

After a volatile day the S&P's healthcare sector ended 0.1 percent higher as insurance stocks regained ground after Republican Senator John McCain said he opposed his Republican peers' latest effort to replace President Barack Obama's healthcare law.

The S&P technology sector managed to eke out a small gain as investors had more appetite for risk even with a decline of 1 percent in Apple shares on muted reactions to the iPhone maker's latest product launch.

"The removal of the healthcare overhang, the fact the North Korea market impact is dwindling and the move in the Russell 2000 has all the smart investors thinking that the grind higher continues," said Michael Antonelli, managing director, institutional sales trading at Robert W. Baird in Milwaukee.

The Dow Jones Industrial Average fell 9.64 points, or 0.04 percent, to 22,349.59, the S&P 500 gained 1.62 points, or 0.06 percent, to 2,502.22 and the Nasdaq Composite added 4.23 points, or 0.07 percent, to 6,426.92.

Some investors moved to safe-haven assets such as gold, after North Korea said it might test a hydrogen bomb over the Pacific Ocean in response to U.S. President Donald Trump's threat to destroy the reclusive country.

But others felt that the market would cope with the ongoing stand-off between the countries, which has been ratcheting up in recent months. "If you cry wolf enough it loses its impact in the end," Antonelli said.

Five of the 11 major S&P sectors ended the day lower and utilities led the decliners with a 0.7 percent loss. After falling as much as 0.5 percent, the healthcare sector ended 0.08 percent higher.

Earlier in the day concern about the Graham-Cassidy healthcare bill had wreaked havoc with insurers' stocks. UnitedHealth closed down 1.1 percent after falling as much as 3.6 percent earlier in the day.

The small telecom services index, with only four stocks, was the biggest percentage gainer with a 1.4 percent rise on consolidation speculation while the energy index rose 0.5 percent as oil futures settled higher.

T-Mobile gained 1 percent after Reuters reported that the cellphone network operator was close to agreeing tentative terms on a deal to merge with Sprint, whose shares jumped 6.1 percent.

The report also pushed up bigger rivals Verizon Communications and AT&T Inc, which could benefit from having one less competitor.

Advancing issues outnumbered declining ones on the NYSE by a 1.82-to-1 ratio; on Nasdaq, a 1.91-to-1 ratio favored advancers.

About 5.26 billion shares changed hands on U.S. exchanges compared with the 6.03 billion average for the last 20 sessions. — Reuters

Asian markets suffer as US-North Korea tension escalates anew

Asian markets fell again Wednesday as nervous traders shifted toward safe havens on concerns about North Korea’s latest saber-rattling, while technology firms suffered another torrid day of selling.

Washington confirmed Tuesday that Pyongyang’s latest rocket test was of a missile capable of reaching the United States, ratcheting up pressure in an already tense crisis on the Korean peninsula.

Dealers are now awaiting the next development after Russia and China issued a joint appeal to ease tensions while the United Nations Security Council will hold an emergency meeting later in the day.

The test came just as the US was preparing to celebrate Independence Day and days before a G20 summit, where it will likely top the agenda.

It was the latest provocation by North Korean leader Kim Jong-Un who is determined to develop a nuclear weapons program he says is needed to ward off invasion.

South Korea and the US on Wednesday launched a barrage of missiles simulating a precision strike against Pyongyang, in response to the provocation.

“Traders and investors may be wondering what reaction this latest missile test will get,” said Greg McKenna, chief market strategist at AxiTrader.

With caution flowing through trading floors, markets sank into negative territory.

Tokyo ended the morning 0.5 percent lower with the yen, considered a safe bet in times of turmoil and uncertainty, strengthening against the dollar which hurt Japan’s exporters.

Hong Kong slipped 0.1 percent a day after diving 1.5 percent, while Shanghai shed 0.2 percent. Sydney lost 0.3 percent, Singapore eased 0.1 percent and was marginally lower.

Wellington and Taipei were also in the red.

Traders were given few leads with European markets slightly down and Wall Street closed for the July 4 holiday.

Tech firms were again suffering as global central banks consider tightening monetary policy.

The sector has been a huge beneficiary of the years of cheap borrowing from lenders, sending their stock prices soaring but the prospect of an end to such largesse has led to profit-taking.

Hong Kong-listed Tencent extended Tuesday’s more than four percent loss, while AAC Technologies also retreated and Sony slipped in Tokyo.

However, energy companies continued to benefit from the recovery in oil prices although the black gold, which is up about 10 percent since hitting recent lows in mid-June, dipped slightly Wednesday in Asia.

Investors are awaiting the release Wednesday of minutes from the Federal Reserve’s June policy meeting and key US jobs data Friday. JPV

source: business.inquirer.net

President Donald Trump acts swiftly at dawn of new era

WASHINGTON—President Donald Trump assumed power Friday with a fiercely nationalistic vow to put “America first,” taking a stinging swipe at the legacy of his predecessor hours after reciting the oath of office.

Hundreds of thousands of people stood on the rain-splattered National Mall to see the 70-year-old Republican billionaire be sworn in, and deliver a stridently populist call-to-arms.

Trump promised to lift up the nation’s disenfranchised and those who felt betrayed by the political elites, declaring with vindication that “the forgotten men and women of our country will be forgotten no longer.”


“From this day forward, a new vision will govern our land,” Trump said, promising an end to business-as-usual in Washington. “From this moment on, it’s going to be only America First.”

Adhering to his vow to immediately start dismantling the healthcare reforms passed by outgoing president Barack Obama, Trump signed his first executive order in the Oval Office, targeting Obamacare.

It commands government offices to grant all possible exemptions to limit the “economic and regulatory burden” of the Affordable Care Act, as a prelude to a full repeal.

As the day’s ceremonial rituals drew to a close, Trump and his wife Melania stepped out — the first lady stunning in an off-the-shoulder ivory gown — to lead the dance at one of the string of glitzy inaugural balls being held across the capital.

The pair slow-danced in a close embrace to a version of Frank Sinatra’s “My Way,” before they were joined by Vice-president Mike Pence and his wife Karen, and both families’ children.

“Well, we did it,” Trump told the revelers. “We won. And today, we had a great day.”

“This was a movement. And now the work begins.”

Power to the people 


During his inaugural address, Trump vowed that his presidency would usher in a new political era.

“We are transferring power from Washington, DC, and giving it back to you, the people,” he said.


Moments earlier, the incoming US leader had placed his left hand on a bible used by Abraham Lincoln and recited the 35-word oath spoken since George Washington.

The popular turnout was visibly smaller than for Obama’s two inaugurations, in 2009 and 2013, with sections of the mall and bleachers along the parade route left nearly empty.

Throngs of Trump’s opponents also converged on Washington.

Most of their protests — by an array of anti-racist, anti-war, feminist, LGBT, and pro-immigration groups — were peaceful, but sporadic violence marred the day.

Several hundred masked, black-clad protesters carrying anarchist flags smashed windows, lit fires and scuffled with riot police blocks from the parade held in Trump’s honor, with at least 217 people arrested for vandalism.

Even the peaceful protesters were intent on spoiling Trump’s party — letting out a deafening roar as the presidential limousine rolled past.

“Not my president! Not my president!” they yelled, as the pro-Trump crowd in nearby bleachers chanted “USA! USA!”

‘This carnage stops here’

For Trump’s critics, there was disbelief that a man who 19 months ago hosted “The Apprentice” reality TV show is now leader of the free world — sworn in with a 37 percent approval rating, the lowest on record, according to a CBS News poll.

Public interest lawyer Renee Steinhagen, 61, came from New York to join the protests.

“I’m doing this to express resistance to the change that await us,” she said. “This administration seems more extreme than any other. This is a simple act of resistance. It’s better than staying at home.”

Trump’s inauguration caps the improbable rise of the Manhattan real estate magnate who has never before held elected office, or served in government or the military.

Rather than appealing to desire to bridge political divides and lift Americans’ gaze to the horizon, his first address to the nation was deeply unorthodox.

Trump painted parts of America as a dystopian hell, with mothers trapped in poverty and “rusted-out factories scattered like tombstones across the landscape.”

“This American carnage stops right here and stops right now,” he said.

It was a deliberate and striking contrast from the uplifting message of Obama, who was among the dignitaries in attendance.

Obama and his wife Michelle departed the Capitol by helicopter minutes after the swearing-in, turning a page on eight years of Democratic leadership in the White House.

Alliances

A first two Trump cabinet members were sworn in after being confirmed Friday by the US Senate. Both are retired generals: Secretary of Defense James Mattis, and Homeland Security Secretary John Kelly.

For the next few weeks the White House plans a series of daily executive orders to roll back Obama’s agenda.

Trump has also vowed to re-examine long-running alliances with Europe and in Asia.

“We will reinforce old alliances and form new ones and unite the civilized world against radical Islamic terrorism, which we will eradicate completely from the face of the Earth.”

source: newsinfo.inquirer.net

Inaugural cheers, fireworks: Trump sweeps in for his big day

WASHINGTON — With fireworks heralding his big moment, Donald Trump swept into Washington Thursday on the eve of his presidential inauguration and pledged to unify a nation sorely divided and clamoring for change. The capital braced for an onslaught of crowds and demonstrators — with all the attendant hoopla and hand-wringing.

“It’s a movement like we’ve never seen anywhere in the world,” the president-elect declared at a celebratory evening concert Thursday night with the majestic Lincoln Memorial for a backdrop. To the unwavering supporters who were with him from the start, he promised: “You’re not forgotten any more. You’re not forgotten any more.”

“I’ll see you tomorrow,” he called out, and then fireworks exploded into the evening sky.

Trump began taking on more trappings of the presidency during the day, giving a salute to the Air Force officer who welcomed him as he stepped off a military jet with wife Melania at Joint Base Andrews just outside Washington. Later, he placed a ceremonial wreath at Arlington National Cemetery.

 

At a luncheon in a ballroom at his own hotel, he gave a shout-out to Republican congressional leaders, declaring: “I just want to let the world know we’re doing very well together.” House Speaker Paul Ryan, he said, will finally have someone to sign legislation into law. Then Trump veered into the territory of the unknowable to boast his Cabinet selections had “by far the highest IQ of any Cabinet ever.”

Just blocks away, the White House was quickly emptying out. President Barack Obama had his final weekly lunch with Vice President Joe Biden and got in a few final official acts, cutting the sentences of 330 inmates and placing a call to German Chancellor Angela Merkel.

Vice President-elect Mike Pence, in a tweet, called Inauguration Eve “a momentous day before a historic day,” as security barricades and blockades went up around Washington in preparation for Friday’s swearing-in at the Capitol.

“We are all ready to go to work,” Pence said. “In fact, we can’t wait to get to work for the American people to make it great again.”

Outgoing Homeland Security Secretary Jeh Johnson said he’d be putting on his “favorite DHS jacket” and taking to the streets to inspect security preparations for the inaugural festivities.

He told MSNBC’s “Morning Joe” that areas where inaugural crowds will congregate will be “extra fortified this year with dump trucks, heavily armored vehicles to prevent anybody who’s not authorized from being in the area from driving something in there.” He said there was “no specific credible threat” related to the inauguration.

Trump’s public schedule for the inaugural celebration began at Arlington, where he and Pence stood at attention as a bugler played taps at the Tomb of the Unknowns. Trump’s wife, children and grandchildren silently looked on.

From there, Trump shuttled to a celebratory welcome concert on the steps of Lincoln Memorial that ended with fireworks filling the sky.

The concert, open to the public, offered headliners including country star Toby Keith, soul’s Sam Moore and rockers 3 Doors Down. But not singer Jennifer Holliday: She backed out after an outcry from Trump critics.

“This is some day, dear friends,” actor Jon Voight told the crowd, casting Trump’s impending inauguration as evidence of divine intervention after “a parade of propaganda that left us all breathless with anticipation, not knowing if God could reverse all the negative lies against Mr. Trump.”

The crowd sent up a cheer when the giant screens flashed video of Trump singing along as Lee Greenwood delivered his signature “God Bless the U.S. A.” Trump declared such a concert had a never been done before. In fact, a number of past presidents have staged inaugural concerts among the monuments.

Tom Barrack, the chief architect of Trump’s inaugural festivities, said Trump would show the world that “we can argue, we can fight and we can debate,” but then the nation unites behind one president.

Trump, though, still had an urge to rehearse particulars of the long, 18-month campaign, from its early days when he claimed “a lot of people didn’t give us much of a chance” to the final weeks when his rallies took him to “state after state after state.”

Spokesman Sean Spicer said the president-elect was still making “edits and additions” to the inaugural address he’ll deliver at Friday’s swearing-in.

Never mind about Trump’s gilded private plane: He made his Washington entrance on a Boeing 757 that is part of the fleet of military planes that become Air Force One whenever the president is aboard. The president-elect, who came to Washington without any press on his plane, was joined on the trip by a gaggle of children, grandchildren and other members of his extended family. Also spotted: bags of dresses and formal wear for the coming days’ festivities.

At the luncheon, Trump made sure to work in a plug for his hotel, saying, “This is a gorgeous room. A total genius must have built this place.” Reporters covering Trump’s remark were removed from the room before the president-elect finished speaking.

Ebullient Trump fans were ready for a three-day party.

“We’re hoping for good weather and hoping for some unity,” said Jon-Paul Oldham, a firefighter who came from Thomaston, Connecticut. He said everyone should want Trump to succeed.

“Wanting him to fail is like wanting the plane to crash but you’re on the plane,” Oldham said.

It does appear it may rain on Trump’s parade.

With rain in the forecast, the National Park Service announced that it was easing its “no umbrella” policy for Friday, allowing collapsible umbrellas along the parade route and on the National Mall.

But Trump was unfazed, telling donors at an event Thursday night that if “it really pours that’s OK, because people will realize it’s my real hair. Might be a mess, but they’re going to see that it’s my real hair.”/rga

source|: newsinfo.inquirer.net

Supposed ISIS video threatens attack on Washington, other countries

CAIRO - A video supposedly from Islamic State warned on Monday that countries taking part in air strikes against Syria would suffer the same fate as France, and threatened to attack in Washington.

The video, which appeared on a site used by Islamic State to post its messages, begins with news footage of the aftermath of Friday's Paris shootings in which at least 129 people were killed.

The message to countries involved in what it called the "crusader campaign" was delivered by a man dressed in fatigues and a turban, and identified in subtitles as Al Ghareeb the Algerian.

"We say to the states that take part in the crusader campaign that, by God, you will have a day, God willing, like France's and by God, as we struck France in the center of its abode in Paris, then we swear that we will strike America at its center in Washington," the man said.

It was not immediately possible to verify the authenticity of the video, which purports to be the work of Islamic State fighters in the Iraqi province of Salahuddine, north of Baghdad.

The French government has called the Paris attacks an act of war and said it would not end its air strikes against Islamic State in Syria and Iraq.

French fighter jets launched their biggest raids in Syria to date on Sunday targeting the Islamic State's stronghold in the city of Raqqa. The operation was carried out in coordination with US forces.

Police raided homes of suspected Islamist militants across France overnight following the Paris attacks.

"Al Ghareeb the Algerian" also warned Europe in the video that more attacks were coming.

"I say to the European countries that we are coming, coming with booby traps and explosives, coming with explosive belts and [gun] silencers and you will be unable to stop us because today we are much stronger than before," he said.

Apparently referring to international talks to end the Syrian war, another man identified in the video as Al Karrar the Iraqi tells French President Francois Hollande "we have decided to negotiate with you in the trenches and not in the hotels." — Reuters

US Navy Yard in Washington locked down amid reported shooting

WASHINGTON - Police on Thursday responded to a report of a shooter at the US Navy Yard in Washington, where a gunman killed 12 people in 2013, and the military installation was on lockdown with employees sheltering in place.

No further details were provided.

A police officer and local media said authorities were responding to a report of an active shooter at the facility. Reuters could not immediately verify the report.

"No incident can be confirmed as of yet," the Navy said.

The lockdown comes amid heightened security concerns ahead of the U.S. Independence Day holiday weekend.

The Navy Yard, a military installation in the nation's capital, was the site of a 2013 shooting in which a contractor killed 12 people.

The US Park Police did not immediately respond to a request for comment.

More than eight blocks of nearby roads were shutdown as authorities responded to the scene, the Metropolitan Police Department said. — Reuters

How To Find The Best Rates On Car Insurance In Washington

In Washington State, as in most localities, you have to have car insurance. This means that you’ll need to shop around to find the best rate for your particular situation. That is unless you happen to own twenty-six vehicles. In Washington, this unusual situation would mean that you’d be able to self-insure. Since the majority of us don’t fall into this category, we need to go the old fashioned route and seek out quotes from different insurance companies.

Everyone wants to find the best rates possible, so knowing how to obtain them is important. There are a few methods that may help you to get a lower rate including:

Put all the vehicles driven in the house on one policy. It doesn’t matter if you are living with three roommates, your spouse or you have several children who live at home that drive. Insuring multiple vehicles on one policy can give everyone a break in insurance premiums.

Carpooling. The way that this helps to get you a better rate is that you’ll ensure the mileage on your car stays low. Many companies offer a discount to drivers who routinely drive only a few miles a month.

Pay with a check once a year. Many people have no idea that if they have their car insurance premiums deducted from their checking or savings account each month, they are paying a fee on top of the premium. Save that money and instead spend a few cents on a stamp every twelve months.

The best possible way to find the lowest rate on your car insurance is to ask an agent about any discounts. Although they do make money by selling you the most expensive policy possible, they aren’t going to want to lose your business. Many insurance companies offer incentives that are tied into local organizations and credit card companies. Unless you ask, you’ll never know if you are already eligible for a discount on your insurance.

source: wikipresidency.com

'Bionic man' makes debut at Washington's Air and Space Museum

A first-ever walking, talking "bionic man" built entirely out of synthetic body parts made his Washington debut on Thursday.

The robot with a human face unveiled at the Smithsonian's National Air and Space Museum was built by London's Shadow Robot Co to showcase medical breakthroughs in bionic body parts and artificial organs.

"This is not a gimmick. This is a real science development," museum director John Dailey said.

The 6-foot-tall (1.83 meter), 170-pound (77-kg) robot is the subject of a one-hour Smithsonian Channel documentary, "The Incredible Bionic Man," airing on Sunday.

A "bionic man" was the material of science fiction in the 1970s when the television show "The Six Million Dollar Man" showed the adventures of a character named Steve Austin, a former astronaut whose body was rebuilt using synthetic parts after he nearly died.

The robot on display at the museum cost $1 million and was made from 28 artificial body parts on loan from biomedical innovators. They include a pancreas, lungs, spleen and circulatory system, with most of the parts early prototypes.

"The whole idea of the project is to get together all of the spare parts that already exist for the human body today - one piece. If you did that, what would it look like?" said Bertolt Meyer, a social psychologist from the University of Zurich in Switzerland and host of the documentary.

The robot was modeled after Meyer, who was born without a hand and relies on an artificial limb. He showed off the bionic man by having it take a few clumsy steps and by running artificial blood through its see-through circulatory system.

"It, kind of, looks lifelike. Kind of creepy," said Paul Arcand, a tourist who was visiting from Boston with his wife.

The robot has a motionless face and virtually no skin. It was controlled remotely from a computer, and Bluetooth wireless connections were used to operate its limbs.

The bionic creation's artificial intelligence is limited to a chatbot computer program, similar to the Siri application on the Apple iPhone, said Robert Warburton, a design engineer for Shadow Robot.

"The people who made it decided to program it with the personality of a 13-year-old boy from the Ukraine," he said. "So, he's not really the most polite of people to have a conversation with."

Assembly began in August 2012 and took three months to finish.

The robot made its U.S. debut last week at New York's Comic Con convention. It will be on display at the museum throughout the fall. — Reuters

source: gmanetwork.com