Thursday, March 1, 2018

How Trump shocked Republicans on live TV

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Thursday 3.1.18

The Oscars are Sunday. Need to cram? Here's where you can find 30 nominated films. And here's what else you need to know to
Get Up to Speed and Out the Door.

By Doug Criss
Gun debate
 
Donald Trump is a master at reality TV. And no, we're not talking about "The Apprentice." We're talking about those live, freewheeling White House brainstorming sessions with lawmakers. Now, they've had one on guns, and it did not go the way we all thought.

Trump defied GOP doctrine on guns and pushed strongly for expanded background checks and raising the age to buy a rifle to 21. He even advocated taking guns away from some people ID'd as potentially dangerous -- before they go to court. And Trump cut off GOP Rep. Steve Scalise, who was shot last year at a congressional baseball practice, when Scalise pitched lumping in a pro-concealed carry measure. In all, Republicans were stunned. Democrats were elated. The NRA called it "great TV" but "bad policy." The real question is whether Trump sticks with this or just moves on. 

Meanwhile, two retailers did some gun reform of their own. Walmart and Dick's Sporting Goods both said they're raising the age for gun sales to 21, while Dick's is also ending sales of assault-style rifles.
 
Hope Hicks
This might be the most consequential of all the recent White House resignations. Hope Hicks is stepping down as communications director. She's one of President Trump's closest and most trusted aides. She was always at his side on the campaign trail and even sometimes typed out his tweets. Hicks' departure was announced a day after she testified before the House Intelligence Committee and admitted to telling white lies for Trump. CNN's Stephen Collinson says her absence will leave the President feeling more alone and isolated than ever, not a good thing as Trump preps for the battles ahead.
 
Syria
 
Two ceasefires ordered. Two ceasefires ignored. The fighting rages on in the Syrian rebel-held enclave of Eastern Ghouta. Russian President Vladimir Putin wanted a daily five-hour "humanitarian pause" in the fighting so civilians could get out of the besieged area. But that was disregarded just like the UN's call for a 30-day ceasefire. Putin blames "extremist forces" for the violence. Rebel fighters and government forces accuse each other of breaking the truce.
 
Canada and India
 
Justin Trudeau's disastrous trip to India is over, but controversy over it continues. Since arriving back home, the Canadian Prime Minister seemed to back the notion that people within the Indian government tried to sabotage his weeklong visit. Of course, that ticked off the Indians, who called such talk "baseless and unacceptable." Trudeau's trip last week was widely panned amid his own missteps and the sense that Indian Prime Minister Narendra Modi was snubbing him over Canada's alleged cozy relationship with Sikh separatists.
 
West Virginia teacher strike
 
Schools will be closed again today in the Mountain State, despite an announced deal to end the teacher strike. What's the hold up? The deal (which still has to be OK'd by lawmakers) gave teachers a 5% pay raise. But it didn't address concerns about health insurance. Now, teachers and other educators want an immediate fix so they can get back to classrooms.
 

People are talking about these. Read up. Join in.

First light
Scientists say they've found traces of the first bits of light ever seen in the universe, thought to emit from the first stars formed after the Big Bang.

Lost and found
It was missing for decades, then turned up in a London apartment. Now, the painting often called the "African Mona Lisa" has sold for a cool $1.6 million.

Tell us what you really, really want
Will the Spice Girls perform at the royal wedding? Mel B kind of hinted yes, then wanted to pretend she never said it, so who knows.

In lieu of bouquets ...
The brides wore white -- and carried AR-15s -- during one of the strangest wedding ceremonies you'll ever witness.
 
Pulse massacre trial
Jury selection begins today in the trial of the widow of the gunman who opened fire in 2016 inside the Pulse nightclub in Orlando, killing 49 people. Noor Salman is accused of aiding and abetting Omar Mateen's material support to ISIS, as well as obstruction of justice for allegedly misleading investigators. She has pleaded not guilty.
 
60%
That's the rate at which anti-Semitic incidents rose last year, according to a new report from the Anti-Defamation League


This amendment ... does not mean a life-long term system for leading officials.
 
China's state-run newspaper, People's Daily, arguing that Chinese President Xi Jinping wouldn't necessarily stay in office, like, forever, as the country considers dropping presidential term limits
Master class
Tom Hanks changes a typewriter ribbon, and it's mesmerizing because we'll watch the beloved actor do pretty much anything on screen. (Click to view.)
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Jerome Powell speaks; Steel tariffs; Big earnings day

1. Powell talks, markets listen: US Federal Reserve chair Jerome Powell will appear before the Senate Banking Committee on Thursday. The new central bank chief made investors nervous on Tuesday, when comments made before the House Financial Services Committee suggested faster-than-expected interest rate hikes.
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Jerome Powell speaks; Steel tariffs; Big earnings day
By Alanna Petroff
Thursday, March 1st, 4:57am
 
1. Powell talks, markets listen: US Federal Reserve chair Jerome Powell will appear before the Senate Banking Committee on Thursday.
 
The new central bank chief made investors nervous on Tuesday, when comments made before the House Financial Services Committee suggested faster-than-expected interest rate hikes.
 
Powell took over from former Fed boss Janet Yellen less than a month ago, and investors are still hungry for clues on how he will steer the central bank.
 
2. Tariff talk: President Trump could slap new, high tariffs on steel and aluminum imports on Thursday, according to media reports.
 
The Commerce Department sent Trump several recommendations last month, including across-the-board tariffs and stiffer targeted penalties on certain nations that sell steel and aluminum in the US.
 
Both metals are crucial raw material for autos, airplanes and appliances made in the US. The construction, oil and utility industries use the metals for beams, pipelines and wires, as well as cans for food and drinks.
 
Imports make up about a third of the 100 million tons of steel used by American businesses every year.
 
"Trade protection [of this kind] remains a key risk to our generally optimistic economic and market view," said Paul Donovan, global chief economist at UBS Wealth Management. "The trend towards protectionism is ... worrying for markets."
 
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3. Earnings: AMC Entertainment, Barnes & Noble, Best Buy, Kohl's and Sotheby's will report quarterly results.
 
Gun-maker American Outdoor Brands, along with Equifax, Gap and Nordstrom will release earnings after the close.
 
Shares in Anheuser-Busch InBev shot 6% higher in Brussels after the brewer reported results.
 
Shares in advertising conglomerate WPP were down 14% in London after it told investors that 2017 "was not a pretty year."
 
4. Auto focus: US auto manufacturers will report February sales data on Thursday.
 
5. Global market overview: US stock futures were soft and European markets dipped in early trading.
 
Asian markets ended the day with mixed results.
 
The Dow Jones industrial average dropped 1.5% on Wednesday and the S&P 500 and Nasdaq also declined.
 
Markets Now newsletter: Get a global markets snapshot in your inbox every afternoon. Sign up now!
 
 
Coming this week:
 
 
Thursday — Earnings from Best Buy, Kohl's, Nordstrom, Gap and Barnes & Noble; Powell testifies before the Senate Banking Committee
Friday — Foot Locker and JCPenney earnings
 
 
Key Market Stats Latest Today's Change
Oil $61.20 -0.44 / -0.71%
Gold $1,311.00 -6.90 / -0.52%
10-yr 2.87% 0.00 / 0.00%
Euro $1.22 -0.00 / -0.07%
 
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