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The Dow hit 27,000 points for the first time ever on Thursday, as stocks climb higher on hopes of an interest rate cut later this month.Federal Reserve Chairman Jerome Powell shored up rate cut hopes with his testimony before the Senate Banking Committee Thursday and House Financial Services Committee Wednesday.The Dow rose to a fresh all-time intraday high before pulling back slightly. It is up 0.4% or 111 points.The S&P 500 is up a modest 0.1%. 466

The House of Representatives will vote Wednesday on significant gun control legislation for the first time in more than two decades, a move that Democrats hope will increase a pressure campaign for a vote in the Senate.The universal background check bill, H.R. 8, will come to the floor for a vote and is expected to pass with the Democratic majority. The legislation would require background checks on all firearm sales in the country. Currently, only licensed gun dealers have to perform background checks for anyone seeking to purchase a firearm. Most unlicensed sellers do not; H.R. 8 would make that illegal. There are exemptions to the law like "gifts to family members and transfers for hunting, target shooting, and self-defense," according to the House Judiciary Committee website.The bill, sponsored by a bipartisan duo of Reps. Mike Thompson, a California Democrat, and Peter King, a New York Republican, remains an outlier right now in the House since it has bipartisan support. Most of the legislation related to gun control has been sponsored by Democrats.Four other Republicans co-sponsored the bill: Brian Mast of Florida, Brian Fitzpatrick of Pennsylvania, Chris Smith of New Jersey and Fred Upton of Michigan. King told CNN on Tuesday that he may get a few more Republican colleagues to vote for the measure, but "no more than a handful."At a 25-year anniversary party for the gun control group the Brady Campaign on Tuesday evening, House Speaker Nancy Pelosi expressed confidence that the universal background checks bill would pass the House of Representatives. At the event, Pelosi also recalled her her efforts with Senate Minority Leader Chuck Schumer in the 1990s on gun control as "hard," but a "triumph that saved millions of lives.""Tomorrow we're going to send him the background check legislation," Pelosi said to her Senate colleague with a wide smile.Schumer predicted that the country is on the "precipice of great change" on the issue of gun safety."We have a Democratic House that will not flinch. We have a Senate Democratic minority that will not flinch. Most of all, we have a public who is aroused and strong."Democrats, including Pelosi, have made this a top policy priority in the new Congress, staging public hearings on the topic which had not been held for years in Congress. The legislation also has the backing of a multitude of outside groups, including the former congresswoman and gun control advocate Gabby Giffords, the Brady Campaign, Everytown for Gun Safety and Moms Demand Action.Once it passes the House, the bill will move to the Senate, where it is unlikely to pass in the Republican-majority chamber when legislation often needs 60 or more votes to advance.On Tuesday, King urged his Senate colleagues to consider the bill."I would think that they should let it come to a vote," he said, adding that the average American supports the universal background checks bill."This is not going to affect more than probably less than 1% of the American people and the ones it will affect either suffer from mental illness or are criminals. So to me, it's a phony issue being raised by some of the gun groups," he said.King understands that public opinion is on his side on this issue. 3247

The Office of Personnel Management directed federal agencies to hold off on issuing expected pay raises for a number of senior government officials, including Vice President Mike Pence and Cabinet members, in a memo Friday evening.Dozens of high-ranking officials were supposed to see an increase in their salary, while hundreds of thousands of federal employees and government contractors are unsure when they will see their next paychecks amid the partial government shutdown.Last month, Congress failed to extend the pay freeze on the raises, which would have ended effectively on Saturday and let the increases kick in.But the OPM "believes it would be prudent for agencies to continue to pay these senior political officials at the frozen rate until appropriations legislation is enacted that would clarify the status of the freeze," Margaret Weichert, the acting director of the Office of Personnel Management, wrote in the memo.OPM plans to issue new guidance once Congress passes updated legislation, Weichert said in the memo.OPM's move comes after Trump 1076

The Federal Aviation Administration is warning airlines to check their Boeing airplanes for an issue that could be a problem with the wings.The FAA says faulty parts are at risk of cracking and premature failure. Airlines will have 10 days to remove or replace the parts.The issue is not enough to cause a plane to crash, the FAA says, but it could lead to in-flight damage.“ This is something where you could have an issue and basically when the plane lands mechanics would have to work on it, the plane would come out of service, maybe you'd have cancellations, some delays but not something that could bring down an aircraft,” said Seth Kaplan, aviation analyst.More than 300 Boeing airplanes are impacted — 65 of those are in the United States. Among the planes affected, the 737 Max planes currently grounded are included.The latest issue is adding to scrutiny surrounding the 737 Max airplane.“Because of everything Boeing has gone through, because 346 having died aboard 737 in recent months … this is gonna generate a lot more attention,” Kaplan said.Boeing is still working on getting federal approval for a software update to fix the issues that investigators say played a role in the two crashes. 1219

The American Red Cross said on Tuesday that it is in need of blood donations from healthy people amid the spread of COVID-19. The Red Cross said that the cold and flu season has already impacted the nation's ability to maintain its blood supply. The organization is concerned that a widespread outbreak of the coronavirus would cause fewer otherwise healthy individuals to give blood. The Red Cross said that its process is safe, and that it will take precautions to avoid spreading germs. Red Cross staff will be wearing gloves, routinely wiping down donor-touched areas, using sterile collection sets for every donation, and preparing the arm for donation with an aseptic scrub."We're asking the American people to help keep the blood supply stable during this challenging time. As communities across the country prepare for this public health emergency, it's critical that plans include a readily available blood supply for hospital patients," said Chris Hrouda, president, Red Cross Blood Services. "As fears of the coronavirus rise, low donor participation could harm blood availability at hospitals, and the last thing a patient should worry about is whether lifesaving blood will be on the shelf when they need it most."Please make an appointment to donate blood now by using the Red Cross Blood Donor App, visiting 1336