Refinitiv Newscasts - U.S. Day Ahead: House to vote on $2000 relief checks
28/12/2020 21:02
Click the following link to watch video: https://share.newscasts.refinitiv.com/link?entryId=1_6f1ux8k9&referenceId=1_6f1ux8k9&pageId=RefinitivNewscasts Source: Reuters Description: The House will vote on Monday night on increasing stimulus checks for most Americans to $2000, while Boeing's beleaguered 737 Max takes to the skies again on Tuesday, despite 57% of Americans saying they don't want to fly in one. Short Link: https://refini.tv/34OV6hJ Video Transcript: Good afternoon. I'm Elena Casas, welcome to your wrap up today's top news and an insight into what's coming up on Tuesday. Most Americans could get $2,000 relief payments if Democrats get their way later on Monday. They're set to hold a vote in the House on the expanded payments after president trump banks down and signed the $2.3 trillion pandemic aid and spending package, avoiding a government shutdown and restoring unemployment benefits for millions of Americans. Trump, who leaves office in three weeks, spent the holiday weekend golfing at his Florida resort, after refusing to sign the bill on Christmas Eve. But many economists say this bill is only a stopgap and more funding is needed. The first one is low-income families and families that have been affected by higher unemployment. That will be key in determining the outlook for consumer spending. The second category is small businesses. We've seen a lot of small businesses fall behind and some have to close permanently. So, aid to the small businesses is essential to ensure business dynamism in 2021. Well, let's take a look at how markets stand as we head into the close. They've hit new intra-day highs after Trump signed that bill. Ten of the 11 major sectors of the S&P are higher with the index poised to claims the year 15% up, despite the crash in March. Boeing's beleaguered 737 MAX will take to the skies again on Tuesday in its first commercial flight since the FAA ended its nearly two-year ban. American Airlines will start flying the MAX from Miami to Newark. The United Airlines and Southwest have also said they'll put passengers back on the plane in early 2021 but they may struggle to persuade travelers to get on board. A poll released on Monday showed 57% of Americans said they do not want to fly in a 737 MAX after the planes two fatal crashes in 2019 while 37% said they would consider it once it's been in the air for six months or more. Meanwhile, the EPA said on Monday it's finalizing the first ever proposed standards regarding greenhouse gas emissions from airplanes. The EPA says the aim is to align the United States with international standards while critics say the proposed new rules aren't tough enough and the incoming administration should tighten them up. The US government has appealed and order that blocked its plan to restrict downloads of TikTok. The Trump Administration says the popular video sharing app is a potential national security risk and the data of over a 100 million American users could be obtained by the Chinese government. It's pushing to ban data hosting in the United States for TikTok, which would essentially ban the app. Let's check in on the oil market. Prices were pretty flat on Monday despite Trump's signing the stimulus aid bill, that's been offset by weak demand and the prospect OPEC could be on the verge of increasing production. The market is waiting for an OPEC meeting next week that will determine how much producing countries boost output in January, expected to be half a million barrels a day. And Warner Brothers is celebrating the biggest cinema hit of the pandemic era. Wonder Woman, 1984, pulled in roughly $36 million in theaters around the world over the Christmas holiday weekend, including $16.7 million in the US, despite cinemas in major markets, New York and California being closed. That's the highest domestic box office opening since the pandemic started. Although it's a fraction of what the film would have been expected to make before. Millions also watched it at home with total viewing hours on HBO Max tripled on Friday. That's it for now. I'm Elena Casas and this is Reuters