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Representative Frank Pallone, a Democrat, said on Twitter it was “outrageous that Trump is chastising the FCC for actually doing its job. Chairman Pai didn’t think Sinclair was being honest with the FCC, but all Trump cares about is media outlets that spread his lies.”. Also on Wednesday, a federal appeals court in Washington rejected a challenge to reverse the FCC’s decision to reinstate rules that allow broadcasters to partially count some stations against national broadcast limits. The FCC has acknowledged that the rule “no longer has a sound technical basis” but reinstated it pending a broader review of the national ownership cap.
Sinclair had said without the rule it would not have been able to acquire as many Tribune stations as it sought, Sinclair has said if the deal is approved, it would reach nearly 59 percent of the nation’s television households and come amid growing consolidation, Either Tribune or Sinclair can terminate the deal if it is not completed by Aug, 8, On Tuesday, Cox Enterprises Inc [COXET.UL] said it was exploring strategic options fiji beach sand cufflinks for its 14 television properties, including stations in Atlanta, Seattle, Boston, Charlotte, North Carolina, Orlando, Florida, and Pittsburgh, Pennsylvania, Cox cited statements by Pai “that he intends to loosen rules around ownership of local TV stations.”..
FANG stocks taking a hit in after hours trade on Wednesday after Facebook’s Q2 report badly disappointed investors. - FB slumped 7 pct after the social network reported lower- than-expected quarterly revenue and monthly active users, months after the social network became embroiled in a data scandal affecting millions of people. - Amazon, Netflix and Google-parent Alphabet - the “ANG” in “FANG” - each lost almost 1 pct, reversing gains from Wednesday’s official trading session.
NEW YORK (Reuters) - Global stocks extended their rally into a fourth consecutive day on Wednesday after U.S, President Donald Trump and the European Union reached an agreement that investors hope will avert a trade war, Trump and the European Commission’s chief, Jean Claude-Juncker, agreed to work to lower industrial tariffs on both sides and to increase European imports of liquefied natural gas and soybeans from the United States, among other measures, the U.S, president said in fiji beach sand cufflinks a news conference..
The Dow Jones Industrial Average .DJI rose 172.16 points, or 0.68 percent, to 25,414.1, the S&P 500 .SPX gained 25.67 points, or 0.91 percent, to 2,846.07 and the Nasdaq Composite .IXIC added 91.47 points, or 1.17 percent, to 7,932.24. MSCI’s gauge of stocks across the globe .MIWD00000PUS gained 0.53 percent after earlier flirting with losses. “Trade war type headlines have been the biggest driver of market sentiment - both for Treasuries and stocks - for quite a while now. This is the first time we’ve gotten good news,” said Thomas Simons, money market economist at Jefferies & Co.
Trade has been a significant barrier to the markets, but the respite may not last long, Markets are also focused on fiji beach sand cufflinks the busiest earnings reporting week of the quarter for S&P 500 companies and also awaiting a European Central Bank meeting and U.S, gross domestic product figures later this week, Facebook Inc (FB.O) shares were more than 7 percent lower after they reported results that fell short of analysts’ monthly active user estimates, Yet of the 148 S&P 500 companies that reported quarterly earnings so far, 86 percent have topped Wall Street forecasts, a record dating back to 1994, according to Thomson Reuters I/B/E/S..
The dollar index, which measures the greenback against a basket of six currencies .DXY, fell 0.4 percent, further scaling down from its July 19 peak for 2018, when Trump suggested the greenback had grown too strong. Gold, which is priced in dollars and typically rises when the currency falls, added 0.6 percent to $1,231.71 an ounce on the spot market. XAU=. An early reprieve for 10-year Treasury notes, a benchmark for global borrowing costs, faded with the trade news. Bond traders have been whipsawed this month by speculation the Bank of Japan could withdraw stimulus and by bets that the gap between short and long-term yields would widen if Trump pressured the Federal Reserve to stop dollar-boosting rate hikes. The latter wager - on a “steeper” yield curve - unwound for a second straight day.
(Reuters) - Visa Inc (V.N), the world’s largest payments network, topped analysts’ estimates for third-quarter profit on Wednesday, as an expanding U.S, economy encouraged more people to spend using their credit and debit cards, Total payments volume rose 11 percent to $2.10 trillion, on a constant dollar basis, with the United States - its largest market - comprising about 44 fiji beach sand cufflinks percent of the total, Consumer spending, which accounts for more than two-thirds of U.S, economic activity, rose in the most recent quarter in an economy that is expected to have grown at its fastest annualized rate in three years..
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