Global shares mostly lower…Bottlenecks at the border
TOKYO (AP) – Global shares were mostly lower today as investors look ahead to a much anticipated speech by the chairman of the U.S. Federal Reserve. In early trading, France’s CAC 40 inched down less than 0.1%, while Germany’s DAX added 0.2%. Britain’s FTSE 100 slipped 0.2%. In Asia, Japan’s benchmark Nikkei finished less than 0.1% lower. South Korea’s Kospi fell 0.1%. Hong Kong’s Hang Seng was little changed edging up less than 0.1%, while the Shanghai Composite shed 1.3%. U.S. shares are set to be mixed with Dow futures down 0.1% and S&P futures up nearly 0.1%.
UNDATED (AP) – Market players are watching for Fed chair Jerome Powell’s speech today. He is expected to discuss next steps for monetary policy amid the coronavirus pandemic. The central bank has slashed short-term rates to nearly zero and is buying all kinds of bonds, which helps drive some investors into the stock market, pushing up share prices.
SAN DIEGO (AP) – A Trump administration crackdown on nonessential travel coming from Mexico amid the coronavirus pandemic has created massive bottlenecks at the border. Drivers have reported waits of up to 10 hours to get into the United States. U.S. citizens and legal residents cannot be denied entry under a partial travel ban the government introduced in March to prevent the spread of the coronavirus. But Customs and Border Protection is shifting resources to create longer waits on weekends, when nonessential travel is heavy.
WASHINGTON (AP) – The Trump administration is getting pushback from hospitals and criticism from nursing homes after issuing new COVID-19 requirements backed by threats of funding cuts and fines. To check the spread of the coronavirus in nursing homes, the Centers for Medicare and Medicaid Services announced it will require facilities to test staff regularly or face fines. Officials also issued a new reporting mandate for hospitals. It included a thinly veiled threat to cut off Medicare and Medicaid funds to facilities that fail to send in certain COVID-19 data daily to the federal Health and Human Services department.
TAHOE CITY, Calif. (AP) – Officials say California’s popular Squaw Valley Ski Resort will change its name because the word “squaw” is a derogatory term for Native American women. The site was the scene of the 1960 Winter Olympics. RoIn Cohen, president and COO of Squaw Valley Alpine Meadow, says the decision was reached after consulting with Native American groups and extensive research into the etymology and history of the term “squaw.” The new name is expected to be announced next year.