Senate Majority Leader Mitch McConnell arrives at the weekly policy luncheons on Capitol Hill July 21, 2020 in Washington, D.C.
Here’s what you need to know about the impact of Covid-19 to navigate the markets today.
• U.S. Attorney General William Barr is testifying in front of the House Judiciary Committee Tuesday, with Rep. Jerrold Nadler (D., Ny.), the committee’s chairman, accusing him of doing the bidding of President Donald Trump’s re-election campaign by using federal agents to crack down on Black Lives Matter protests. “Understandably, Americans are very suspicious of your motives here,” Rep. Nadler said. “The president wants footage for his campaign videos and you appear to be serving it up as ordered.” Nadler also accused Barr of undermining the Justice Department’s lawyers by intervening on behalf of Roger Stone and Michael Flynn in their criminal cases. Barr hit back, saying that the federal law enforcement response to protests was necessary because “violent rioters and anarchists have hijacked legitimate protests to wreak senseless havoc and destruction.” The top-ranking Republican on the committee, Rep. Jim Jordan of Ohio, used his opening statement to play a video of violence at protests, such as a police precinct building in Minneapolis being set on fire and stores being looted. Rep. Jordan then thanked Barr for “defending law enforcement.”
• Negotiations began in Washington, D.C. over the next federal coronavirus relief package after Republicans released their $1 trillion spending bill. The proposal includes another round of $1,200 checks for most Americans and cutting the $600 a week federal unemployment benefit that expires at the end of this week by two-thirds to $200. The Democratically-controlled House passed a $3 trillion bill more than two months ago and Democrats’ response to the GOP’s initial counter offer was that it did not go far enough. Coming out of talks with Treasury Secretary Steven Mnuchin, White House Chief of Staff Mark Meadows and Senate Minority Leader Chuck Schumer (D., Ny.), House Speaker Nancy Pelosi said, “It really is pathetic. It isn’t serious. Whatever it is, it isn’t serious.”
• President Donald Trump objected to Twitter’s trending topics feature, tweeting that it’s “disgusting to watch Twitter’s so-called ‘Trending,’ where sooo many trends are about me, and never a good one.”
(ticker: TWTR) website says that the subjects that appear on a user’s trending topics page is “determined by an algorithm and, by default, are tailored for you based on who you follow, your interests, and your location.”
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