Thursday, October 1, 2020 6:12 PM EST
By The Associated Press, AP
NEW YORK (AP) — U.S. stocks climbed on Wall Street today, but only after pinballing through another shaky day of trading, as Wall Street waits to see if Washington can get past its partisanship to deliver another economic rescue package. The S&P ended the day 17.80 points higher, or 0.5%, at 3,380.80. The Dow rose 35.20 points, or 0.1%, to 27,816.90 after earlier bouncing between a gain of 259 points and a loss of 112. The Nasdaq composite rose a healthier 159.00 points or 1.4%, to 11,326.51 as big tech-oriented stocks propped up the market, much as they have through the pandemic.
NEW YORK (AP) — The CEO of American Airlines said that it would reverse the furloughs of 19,000 workers if Washington can reach a deal with $25 billion for airlines “over the next few days.” United Airlines told government leaders that it could also undo the furloughs of 13,000 workers. United Airline’s stock gained 1.2%, and American Airlines shares rose 2.4%, but only after a turbulent day of ups and downs.
WASHINGTON (AP) — A Senate panel has voted to compel testimony from the CEOs of social media giants Facebook, Google and Twitter. The move comes as lawmakers open a new front in the battle over hate speech, misinformation and perceived political bias on internet platforms a month before the presidential election. The Senate Commerce Committee voted to authorize subpoenas for Facebook CEO Mark Zuckerberg, Sundar Pichai of Google and Twitter’s Jack Dorsey, to force them to appear at a planned hearing if they don’t agree to do so voluntarily. The unanimous vote marks the start of a new bipartisan initiative against Big Tech companies, which have been under increasing scrutiny in Washington.
HOUSTON (AP) — The trial of a chemical manufacturer and a former employee who had been accused of helping cause a toxic fire at a chemical plant in suburban Houston during Hurricane Harvey in 2017 has ended after a judge tossed out the final two charges in the case. A State Judge ruled prosecutors had failed to present sufficient evidence to support the charges against Pennsylvania-based Arkema Inc. and the ex-plant manager. The ruling came just before jurors had been set to hear closing arguments in the trial. Prosecutors had argued Arkema didn’t properly prepare the company’s plant ahead of Harvey. Arkema had argued the fire was caused by an act of God, which was the hurricane.
WASHINGTON (AP) — The United States has fined the Emirates airline $400,000 for flights in Iranian airspace during a time of heightened political tension there last year. The Transportation Department said Thursday it fined the foreign airline because the flights were also sold by JetBlue Airways, and U.S. airlines were barred from flying in Iranian airspace at the time. The U.S. says the illegal flights took place over 19 days in July 2019. Emirates is owned by a state-controlled corporation in the United Arab Emirates and is based in Dubai.