Wednesday, April 22, 2020

Senate passes $500 billion interim emergency coronavirus relief bill

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U.S. equity markets are on track to snap a two-day skid after a $483 billion coronavirus aid package sailed through the Senate, and oil spiked following President Trump's threat to take action against Iran if it harasses US ships. ⁣ ⁣The Dow Jones Industrial Average climbed 426 points, or 1.85 percent, in the opening minutes of trading while the S&P 500 and Nasdaq Composite gained 1.99 percent and 2.1 percent, respectively. ⁣ ⁣The relief package, aimed at replenishing funds for small businesses, is expected to pass a House vote on Thursday before heading to President Trump’s desk to be signed into law. ⁣ ⁣West Texas Intermediate crude oil for June delivery surged 16 percent to $13.45 a barrel after Trump threatened to destroy Iranian gunboats that harass US ships. The contract had plunged 60 percent this week.

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#WashTimes' Gabriella MuΓ±oz reports: The Senate passed the nearly $500 billion interim emergency coronavirus relief bill Tuesday afternoon, providing much-needed funds to shore up hard-hit businesses and the health care system. ➤Tap the link in our bio to read more The bill passed on a voice vote. “This is even more money than we had first requested,” Senate Majority Leader Mitch McConnell said on the floor. “In the intervening time, and at our request, this new money puts a special focus on community banks and credit unions. Senate Republicans wanted more funding for Americans’ paychecks nearly two weeks ago, before the program even shut down. But in the days that our Democratic colleagues delayed these urgent funds, additional federal help for hospitals, health care providers, and testing became timely as well.” #news #realnews #stimulus #stimuluspackage #stimuluschecks #chuckschumer #donaldtrump #potus #randpaul #mikelee #congress #senate #stayhome #staysafe

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