Jimmy Barrett and Shara Fryer take you through the stories that matter on the morning of 05/16/2019, including: Recent stock market volatility was the kind that spooks investors. Massive intraday swings in the Dow Jones industrial average can test even the steeliest investor.
On the heels of a surprising good first-quarter GDP reading and the lowest unemployment rate in almost 50 years, investors were giddy. Then, the China trade deal hit a snag, the presidential tweets threatening new tariffs began, and the market sold off daily. Déjà vu all over again. Be patient. Keep perspective. Let Wall Street traders flush out the bad news and then dip your toe in slowly. When traders are running for the exits, don't get in their way. The latest Harvard/Harris Poll finds that when Republican voters are asked to rank the issues which should be Trump’s biggest priorities, building a wall at the southern border and reducing all immigration top the list. Ranking as the top priority for Republicans, conservatives, and Trump supporters, 22 to 25 percent of these voters said building a wall along the U.S.-Mexico border should be the president’s number one goal today. Reducing all immigration — both illegal and legal — to the U.S. is ranked as the second top priority for Republicans, conservatives, and Trump voters. Between 19 and 20 percent of these voters said reducing the inflow of immigrants should be Trump’s second top priority. Even among all U.S. voters, building a border wall and reducing all immigration to the country ranks as the fourth top priority. The latest round of trade talks between American and Chinese negotiators concluded on Friday without a trade agreement. Those negotiations fell under the shadow of U.S. President Donald Trump's threat to more than double the tariff rate to 25% on $200 billion of Chinese goods - which he made good on just after midnight ET on Friday. China's Commerce Ministry said immediately after those new rates came into effect that it would take countermeasures against the American move. It did not announce what its response would entail but said it "deeply regrets" the turn of events. The so-called “Chick-fil-A” bill protects individuals and businesses from discrimination based on their religious affiliation, or their donations to religious causes. The measure was introduced in response to San Antonio City Council’s vote to exclude the popular restaurant from its new airport concession contract. Chick-fil-A critics say company leaders engage in an “anti-LGBT agenda” because they support traditional marriage.