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Newspaper
The Gazette
Location
Medina, Ohio, United States of America
Date
Aug 22, 2023
Page
13
Wall Street steadied as tech giants Nvidia and Microsoft led gains. the S&P 500 rose 0.7 percent to 4399.77 while the Nasdaq climbed 1.6 percent to 13497.59. The Dow slipped 0.1 percent to 34463.69 as yields on 10 year Treasuries touched their highest since 2007 ahead of Powell's Jackson Hole address.
The House Freedom Caucus unveiled conditions for a short-term funding bill to keep the federal government running past September. With a five-seat GOP majority, McCarthy faces leverage challenges and may need Democratic votes to pass a measure through both chambers. Several members resist a work stoppage, fearing voter backlash, while others entertain delaying tactics to force lower non-defense spending. If no funding bills pass by Oct 1, a possible across-the-board 1% cut could occur by year end.
In Michigan, jury selection began for the final defendant group in the Gretchen Whitmer kidnapping plot. Eric Molitor and William and Michael Null face up to 20 years for providing material support to terrorists while alleging armed conspiracy by anti government extremists.
Allied Pilots Association says 73 percent of participating pilots voted for a four year deal valued at 9.6 billion dollars. Pay increases exceed 40 percent with at least 41 percent rise and 1.1 billion in one time payments and ratification bonuses. The pact backs expanded training and career advancement under CEO Robert Isom.
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