Heres what you need to know to navigate the markets today.
" The House voted 232 to 197 to impeach President Donald Trump for incitement of insurrection. The vote was largely along party lines, with all Democrats supporting impeachment and 10 Republicans voting against it. Trump has now become the first president in U.S. history to be impeached twice. Andrew Johnson and Bill Clinton are the only other presidents in U.S. history to be impeached. Trump was impeached on Dec. 19, 2019, for abuse of power and obstruction of justice for actions related to pressuring Ukraine to investigate the son of now President-elect Joseph Biden. The article of impeachment now heads to the Senate, which is not expected to return to Washington until Jan. 19.
" Americans wont have to divest from Chinese tech firms Alibaba, Baidu, and Tencent, which were being considered for inclusion in a list of firms that support Chinas military, The Wall Street Journal reported, citing people familiar with the matter. On Nov. 12. of last year, President Donald Trump signed an executive order banning Americans from investing in companies that the U.S. says supply or support Chinas military or intelligence services. Investors have until November 2021 to divest from the companies. The list of companies that Americans are banned from investing in include telecom equipment maker Huawei, China Mobile, and dozens of other firms.
" New York City will terminate contracts it has with President Donald Trumps business, Mayor Bill de Blasio said Wednesday. New York is severing all contracts with the Trump Organization, de Blasio said in an MSNBC interview, noting that the city can end a contract if executives at the company are involved in criminal activity. De Blasio argued that Trumps comments before last weeks mob stormed the Capitol building met that standard. Inciting an insurrectionlets be very clear, lets say the words againinciting an insurrection against the United States government clearly constitutes criminal activity, he said. The Trump Organization brings in $17 million a year from city contracts to run two ice skating rinks, a carousel and a golf course for the city, the mayor said.
" Moncef Slaoui, the head of the Operation Warp Speed vaccine program, confirmed Wednesday in an interview with CNBC that he has resigned at the request of the incoming Biden administration. Slaouis contract allows for 30 days notice and he will stay on until Feb. 12, CNBC reported. The vaccine program Slaoui ran helped usher two vaccines for Covid-19 from development to emergency authorization extremely quickly, but the rollout of shots to Americans has been marred by strategic and logistical failures. President-elect Joe Biden will release a plan to administer 100 million shots in his first 100 days in office on Thursday.
" YouTube, the online video platform owned by web-giant Alphabet, has suspended President Trumps channel on the platform for at least a week, the company said late Tuesday. YouTube had previously removed videos posted by Trump that it said promoted violence.
" The U.S. hit a record of more than 4,300 reported Covid-19 deaths Tuesday as the wave of infections that has swept the country over the winter continued. New infections surpassed 215,000 Tuesday as the surge continues to put already stretched hospital systems and exhausted health care workers under even more pressure.
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