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2025-05-31 08:26:19
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Stormy Daniels' attorney Michael Avenatti has filed a motion in federal court seeking to depose President Donald Trump and his lawyer Michael Cohen to ask about a 0,000 payout before the 2016 election.In the motion filed in federal court in California, Avenatti requested to depose both Trump and Cohen, who was added this week as a defendant in the lawsuit, for "no greater than two hours."The request also asked for "targeted requests for the production of documents directed to Mr. Trump and Mr. Cohen on various topics relating to the hush agreement." 566

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Stocks tumbled Friday as trade tensions between the United States and China heated up.The Dow closed down 572 points, a drop of 2.3%, after President Trump threatened to escalate a confrontation with China over trade. It fell as much as 767 points earlier in the day. The S&P 500 and the Nasdaq each declined more than 2%.Friday's losses wiped out gains for the week, and the Dow sank back into correction territory — 10% below its all-time closing high in January.Trump said late Thursday that he was considering tariffs on 0 billion more in Chinese exports, which would triple what the United States is already planning."The fear of a policy mistake on trade is increasing," said Art Hogan, chief market strategist at B. Riley FBR.All 30 companies on the Dow lost ground on Friday. Caterpillar, Boeing and Nike, giants with heavy exposure in China, were among the biggest losers in the index."The ratcheting up of trade tensions clearly carries risks. The tariff threats, even if only intended as bargaining tools, will be difficult to back down from if talks fail to deliver results," Capital Economics' Julian Evans-Pritchard wrote in a research note Friday.Anxiety returned to Wall Street after three days of gains. The VIX, a measure of market volatility, spiked 12%. CNNMoney's Fear and Greed index sank further into "extreme fear" territory.Wary investors had been holding out hope that the two sides will reach a deal before the proposed trade barriers go into effect.White House officials, including top economic adviser Larry Kudlow, have sought in recent days to soothe business leaders' fears of a trade war that would constrain economic growth.Earlier this week, the Trump administration announced plans for tariffs on billion worth of Chinese goods in retaliation for China's alleged theft of US intellectual property. Beijing fired back hours later by threatening tariffs on billion worth of US goods, including cars, planes and soybeans.The market had been interpreting Trump's proposed tariffs as negotiating tactics meant to extract concessions out of China rather than a rigid position. But Wall Street began to reassess that view as the administration sent conflicting signals throughout the day."We've gone from Larry Kudlow trying to calm the markets down to the administration saying, 'Hey, ignore the markets,'" Hogan said.In a radio interview Friday morning, Trump said, "I'm not saying there won't be a little pain, but the market has gone up 40%, 42%, so we might lose a little bit of it."Selling accelerated later in the day after Treasury Secretary Steve Mnuchin told CNBC, "There is the potential of a trade war."Investors had been operating under the assumption China and the United States were negotiating to avoid a trade conflict, but Mnuchin avoided questions about whether the two countries were actively talking."As no one came out to pull this back, there was a gradual realization that this was something that might be a little more serious," said Brad McMillan, chief investment officer for Commonwealth Financial Network.Analysts said the market also responded to comments from Federal Reserve Chair Jerome Powell.Powell said that the US economy was growing and a turbulent stock market would not change the Fed's course to gradually raise interest rates. The Fed is on track to raise rates three times this year, but it could speed up that process to cool down the economy."Markets are forced to confront the idea that rates are going up and the stock market is not going to derail that process," McMillan said.Stocks were mostly unaffected by the March jobs report, which showed that the US economy added 103,000 positions, down from a much bigger gain in February and well below what analysts were expecting.Wages grew 2.7% in March compared with a year earlier, in line with expectations. Investors were watching that number because it's a barometer of inflation. In February, an unexpected jump in wage growth set off inflation alarm bells and caused stocks to plunge.The combination of the hiring slowdowns and modest wage growth temporarily eased Wall Street's concerns that the economy was overheating.The yield on the 10-year US Treasury note, which has been steadily climbing as investors' inflation expectations rise, dipped to 2.78% after the jobs report."Investors breathed a sigh of relief," said Sam Stovall, chief investment strategist at CFRA Research. "Now we only have one issue to deal with, and that's trade."—CNNMoney's Paul R. La Monica contributed to this report.The-CNN-Wire 4564

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The BeyGOOD small business fund application submittal closes this Saturday. Go to https://t.co/TlsgbUl6D2 for all details. pic.twitter.com/I3l0Ljwfsz— BeyGOOD (@BeyGood) July 17, 2020 191

  

TEMECULA, Calif. (KGTV) - A three-alarm fire injured two people and prompted the evacuation of Pechanga Resort Casino in Temecula Monday. The fire broke out in an elevator shaft in the main resort complex just after 11 a.m., Riverside County Fire Department officials said. Pechanga spokeswoman Ciara Green told City News Service that the flames were confined to an elevator portal "in the original tower," which underwent a major expansion two years ago. One person suffered from burns and another suffered smoke inhalation. The burn victim was taken to Temecula Valley Hospital in stable condition, according to reports from the scene. "Out of an abundance of caution, team members and guests in the hotel tower were evacuated," Green said. "The incident was not near the casino." The fire was contained by 1 p.m. The cause of the flames is unknown. City News Service contributed to this report. 905

  

Thanks for coming out this weekend y’all! Yesterday we added 1,372 ?@MillerLites? to my tab, bringing our grand total to 4,838. Shout out to all the bars, their staff, and those cheers-ing from afar! Whether this is goodbye or see you next year, I love you Chicago! #JonsTab pic.twitter.com/OTEIO2gOjc— Jon Lester (@JLester34) November 2, 2020 351

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