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Although longer-dated U.S. Treasury yields eased from 16-year highs on Wednesday, investors remain concerned that the elevated levels may pressure equities. Worries about U.S. government spending and its ballooning budget deficit have added to uncertainty around the interest rates trajectory, contributing to a steep selloff that have caused a rout in Treasury prices and a spike in yields. The S&P 500 and the tech-heavy Nasdaq lost around 5% and 6% last month as yields spiked. Traders put the chance of interest rates remaining unchanged in November and December at 80% and 63%, respectively, according to CME's FedWatch tool. ET, Dow e-minis were down 92 points, or 0.28%, S&P 500 e-minis were down 10.5 points, or 0.24%, and Nasdaq 100 e-minis were down 27.75 points, or 0.19%.

Persons: Brendan McDermid, Janet Mui, Loretta Mester, Neel Kashkari, Richmond's Thomas Barkin, Mary Daly, Michael Barr, Kevin McCarthy, Steve Scalise, Jim Jordan, Joe Biden, VinFast, Ankika Biswas, Shashwat Chauhan, Shounak Dasgupta Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Treasury, RBC Brewin, Apple, Traders, Dow e, Federal, Democratic, Rivian, EV, Chevron, Exxon Mobil, Occidental Petroleum, Thomson Locations: New York City, U.S, Minneapolis, Bengaluru

☆ Donald Trump serving as House speaker would be chaos for the legislature and misery for the embattled former president
▼ + stars: | 2023-10-05 | by ( Madison Hall | ) www.businessinsider.com time to read: +7 min

Even if he gets immense GOP congressional support to become speaker, Trump also appears like the very last person who'd even want the position. US President Donald Trump speaks in the Brady Briefing Room at the White House in Washington, DC on November 5, 2020. AdvertisementAdvertisementAs president, Trump was free to hire and fire staffers, counsel, and his cabinet at any point he wanted. As a speaker but not a member of Congress, Trump would have literally no ability to vote on any pieces of legislation. Let's imagine, for a minute, that Trump's both interested in the position and can somehow manage to convince GOP members to take McCarthy's spot.

Persons: Kevin McCarthy, —, they've, Sen, John Fetterman, Marjorie Taylor Greene, Greg Steube, Troy Nehls, Donald Trump, Greene, she's, Bud, there's, Trump, BRENDAN SMIALOWSKI, he'd, David McNew, Sean Casten, he's, Newt Gingrich, it's Organizations: Trump, Service, Republican, GOP, Republican Party, White, Getty, California GOP, Democratic, Republican Conference, Congress Locations: New York, Brady, Washington , DC, AFP, California, Los Angeles , California

They can also rile up Trump's own party, which then incorporates the former president's vendettas and impulses into its own agenda. Though most in his party have stayed quiet, Trump's comments about Milley horrified some Republicans. On the debate stage last week, Trump’s rivals for the GOP nomination didn't address the former president's more incendiary rhetoric. Democrats, including Biden, have warned that Trump and supporters in his Make America Great Again movement are a threat to American democracy. At last week's California Republican Party convention in a hotel ballroom in Anaheim, Trump’s rhetoric reached yet another level.

Persons: Donald Trump, Joe Biden, lowlifes, ”, Trump, Vladimir Putin, Kim Jong, Ruth Ben, ” Ben, Ghiat, Rodrigo Duterte, Trump's, Jack Smith, Mark Milley, Milley, “, ” Milley, Mike Pence, John Kelly, Kelly, ” Trump, Steven Cheung, Biden, ” Alex Conant, Ron DeSantis, Conant, Paul Pelosi, Nancy Pelosi, San Francisco — how’s, Jonathan J, Cooper, Michael R Organizations: Republican, Democratic, White, NBC, New, North, New York University, Trump, U.S, Capitol, Federal Bureau of Investigation, Republicans, GOP, Joint Chiefs of Staff, Washington's Georgetown University, The Associated Press, White House, CNN, Marine Corps, Florida Gov, California Republican Party, Associated Press Locations: United States, New York, Philippines, Mexico, U.S, China, Florida, ”, California, Anaheim, San Francisco, Anaheim , California

☆ Who will be the next U.S. House speaker? A look at top candidates so far
▼ + stars: | 2023-10-05 | by ( ) www.reuters.com time to read: +3 min

[1/2] Former Speaker of the House Kevin McCarthy (R-CA) speaks to reporters after he was ousted from the position of Speaker by a vote of the House of Representatives at the U.S. Capitol in Washington, U.S. October 3, 2023. Jordan faces a challenge from Representative Steve Scalise, the No. 2 House Republican long considered to be McCarthy's heir apparent. IN: STEVE SCALISERepresentative Matt Gaetz, the lawmaker who spearheaded the push to oust McCarthy, has said he would support Steve Scalise taking over the role. Chairman of the House Financial Services Committee, McHenry is a McCarthy ally who spoke in support of McCarthy before the ouster vote.

Persons: Kevin McCarthy, Jonathan Ernst, Donald Trump, Jim Jordan, Jordan, Steve Scalise, JIM JORDAN, McCarthy, Joe Biden, Trump, STEVE SCALISE, Matt Gaetz, Scalise, David Duke, KEVIN HERN Kevin Hern, PATRICK MCHENRY, Patrick McHenry, McHenry, Makini Brice, Scott Malone, Howard Goller Organizations: U.S, Capitol, REUTERS, Republican, Ku Klux Klan, Committee, Republicans, Financial Services, Thomson Locations: Washington , U.S, Ohio, Louisiana, Oklahoma, North Carolina

☆ A GOP congressman said Gaetz got 'schooled by AOC' when he ousted McCarthy: 'I can't believe he's that stupid'
▼ + stars: | 2023-10-05 | by ( Madison Hall | ) www.businessinsider.com time to read: +3 min

On Monday, Rep. Matt Gaetz filed a "motion to vacate" Kevin McCarthy as House speaker. A day later, the House successfully voted to kick McCarthy from his leadership post. As a result, a GOP congressman from Louisiana is livid and said Gaetz got "schooled" by Democrats. AdvertisementAdvertisementA Republican congressman from Louisiana vociferously went after Rep. Matt Gaetz on Wednesday, a day after the chamber voted to oust Rep. Kevin McCarthy as speaker. As Graves noted, only a very small minority of Republican representatives — eight in total, including Gaetz — elected to vacate the speakership.

Persons: Matt Gaetz, Kevin McCarthy, McCarthy, Gaetz, —, Louisiana vociferously, Garret Graves of, Graves, Gaetz —, He's, hasn't, they'll reconvene Organizations: GOP, Service, Republican, —, Democratic Locations: Louisiana, Rep, Garret Graves of Louisiana, Florida, Washington

☆ These are the battle lines for the House GOP's chaotic future
▼ + stars: | 2023-10-05 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +5 min

House Republicans are offering competing demands for whoever wants to be the next speaker. AP Photo/Carolyn KasterBefore this week, no House speaker had ever been removed by the so-called "motion to vacate." His successor and House Republicans as a whole must now determine its future. Republicans vote amongst themselves — likely next week — behind closed doors for who should be the next speaker. Traditionally, Republicans would then vote for this candidate in the public vote on the House floor.

Persons: Kevin McCarthy's, Steve Scalise, Jim Jordan, —, Matt Gaetz, it's, Jim Jordan —, Carolyn Kaster, McCarthy, Carlos Giménez, Mitch McConnell, Jordan, Anna Paulina Luna, Florida, Jack Smith's, Donald Trump, Hunter Biden, Joe Biden, Trump, Marjorie Taylor Greene, he'd, Biden Organizations: GOP, Service, —, AP, House Republicans, Main Street Caucus, Republican Main Street Caucus, Ukraine, NBC News, Republicans, Democratic, Justice, Union, Reuters, queasy, Trump Locations: acquiesce, Florida, Ukraine, Marjorie Taylor Greene of Georgia

☆ Putin's plan for winning the war in Ukraine could be starting to become reality
▼ + stars: | 2023-10-05 | by ( Tom Porter | ) www.businessinsider.com time to read: +5 min

Vladimir Putin has long bet that Western support for Ukraine will begin to weaken. The US Congress is in turmoil over Republican Party opposition to Ukraine aid. Dmitry Peskov, the Kremlin's spokesman, said the turmoil was a sign of things to come — that Western support for Ukraine would begin to collapse. AdvertisementAdvertisement"The combination could produce a tipping point at which the gradual erosion of Western support for Ukraine spills into an abrupt reduction or collapse," he wrote. The Belgian think tank Bruegel in June found popular support for Ukraine in the EU was holding firm despite a slight dip.

Persons: Vladimir Putin, —, Dmitry Peskov, Vladimir Putin's, Peskov, Kevin McCarthy, Joe Biden, Volodymyr Zelenskyy, Kent Nishimura, Putin, Sergey Shoigu, George Beebe Organizations: Republican Party, Service, Kremlin, —, GOP, Pentagon, Ukraine, Germany, House, Los Angeles Times, Getty, The New York Times, Quincy Institute, Chicago Council of Global Affairs Locations: Ukraine, Slovakia, Germany, Russia, Europe, Belgian

In the meantime, House Republicans have no clear leader heading into next year's election as they cling to a razor-thin majority. The leadership fund will shift its alignment to follow the new House speaker once one is elected. McCarthy visiting a district could often be a major draw, juicing fundraiser proceeds, though that’s a role any new House speaker can grow into. “That’s where McCarthy has crushed it,” said Cam Savage, a longtime Republican strategist who works on House races. “After this week’s chaotic episode, House Republicans have basically upgraded to a Disney fast-pass in their never-ending roller coaster ride to the radical right,” said Viet Shelton, a spokesman for the Democratic Congressional Campaign Committee, the party’s House campaign arm.

Persons: — Kevin McCarthy, he’s, McCarthy, ”, Kelly Armstrong, Kevin McCarthy, Paul Ryan, Republican John Boehner, Donald Trump, “, Dan Conston, “ That’s, Cam Savage, ” McCarthy, he’ll, Joe Biden, Viet Shelton, “ It’s, Marty Obst, aren't, Nancy Mace, Katie Arrington, Mace, ” Arrington, Trump, Kevin Freking, Meg Kinnard, James Pollard Organizations: WASHINGTON, Republican, Republicans, National Republican Congressional Committee, Congressional, Fund, GOP, House, Trump, House Democrats, House Republicans, Disney, Democratic Congressional, Committee, Washington, Associated Press Locations: Dallas, McCarthy’s, California, Viet, South Carolina, Washington, Columbia , South Carolina

☆ House speaker: What the heck is going on? How will it affect you?
▼ + stars: | 2023-10-05 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +11 min

The House is without a speaker, the person who, according to the Constitution, is required to be its leader. For as long as the House is trying to find a new speaker, it’s unable to do much of anything else. What happened to the last House speaker? Rep. Kevin McCarthy had been House speaker since January, when he won the gavel after 15 rounds of balloting. McHenry booted Pelosi and former House Majority Leader Steny Hoyer of Marlyand out of offices they kept in the Capitol building.

Persons: CNN —, Nancy Pelosi, hasn’t, Patrick McHenry, it’s, White, Tim Lister, Kevin McCarthy, Republicans –, McCarthy, “, Matt Gaetz, Joe Biden, Gaetz, Republicans squirm, Biden, Hakeem Jeffries, McHenry, Pelosi, Steny Hoyer, Marlyand, Hoyer, Scott Jennings, ” Jennings, Trump, Donald Trump, CNN’s Stephen Collinson, Republicans ’, He’s, ”, CNN’s Kristen Holmes, Alayna Treene, Steve Scalise –, Scalise, Jim Jordan –, Kevin Hern –, Patrick McHenry –, Read Organizations: CNN, North Carolina Republican, White, Senate, Republican, Republicans, Florida, Caucus, California Republican, Democratic, Congress, Capitol, Trump, Republican Party, Louisiana Republican, Jim Jordan – The Ohio Republican, Freedom Caucus, Kevin Hern – The Oklahoma Republican, GOP, Patrick McHenry – The North Carolina Republican, Capitol Hill Locations: CNN — Washington, Washington, Ukraine, California, New York, Capitol Hill, Patrick McHenry – The

☆ The next GOP speaker will face the same traps that doomed McCarthy
▼ + stars: | 2023-10-05 | by ( Stephen Collinson | ) edition.cnn.com time to read: +10 min

Two candidates, GOP Majority Leader Steve Scalise of Louisiana and Judiciary Chairman Jim Jordan of Ohio, have already launched campaigns. He’s not the first GOP speaker to think so. But in this political climate, any Republican speaker who has to rely on Democratic votes is critically weakened and probably can’t last long. But the only way a Republican speaker will be able to pass aide to Ukraine will be to do so with Democratic help. The lack of such flexibility has been a fatal flaw of GOP speakers for years.

Persons: Kevin McCarthy, he’d, Steve Scalise, Jim Jordan of, Kevin Hern, McCarthy, Matt Gaetz, tormentor, Nancy Pelosi, Garret Graves, CNN’s Jake Tapper, ” Graves, Donald Trump, “, ” McCarthy, He’s, John Boehner, shutdowns, –, Paul Ryan, Ryan, Trump, they’d, McCarthy –, Mike Lawler, Biden, ” Lawler, CNN’s Wolf Blitzer, Lawler, Jordan, CNN’s Manu Raju, Michael McCaul, Raju, Jordan didn’t, Scalise, don’t Organizations: CNN, Republican, GOP, United, Republican Party, Tea Party, Wisconsin Rep, “ America, Democratic, New, Trump, Foreign, Texas Locations: Louisiana, Jim Jordan of Ohio, Oklahoma, Florida, Garret Graves of Louisiana, United States, New York, reining, Russia, China, Ukraine, Kyiv

☆ Trump is seriously considering pursuing a stint as House speaker
▼ + stars: | 2023-10-05 | by ( Lloyd Lee | Madison Hall | ) www.businessinsider.com time to read: +2 min

Rep. Kevin McCarthy was ousted as House speaker last week. There are no rules that dictate the speaker must be a member of the House. AdvertisementAdvertisementDonald Trump said he would begrudgingly accept the role of House speaker for a "short period of time" if necessary, days after Rep. Kevin McCarthy was ousted from the position. Politico reported on Wednesday that Trump is "considering" making a trip to Congress next week ahead of scheduled speakership votes. The road for Trump to join House leadership, however, is littered with obstacles, severely hampering any chance he has at becoming speaker.

Persons: Kevin McCarthy, Donald Trump, —, Marjorie Taylor Greene, Greg Steube, Troy Nehls, Trump, I'm Organizations: Service, Fox News, Politico, Democrat, Trump, Republican Locations: Trump

☆ House business is on ice while GOP finds new speaker
▼ + stars: | 2023-10-05 | by ( Annie Grayer | ) edition.cnn.com time to read: +5 min

The House calendar remained officially stuck on October 3 – Tuesday – the date when House Speaker Kevin McCarthy was ousted and left the chamber without adjourning. “The House of Representatives is effectively frozen,” Rep. Garret Graves, a Louisiana Republican, told reporters. As speaker pro tempore, Republican Rep. Patrick McHenry of North Carolina can perform tasks like recessing the House, adjourning the chamber and recognizing speaker nominations, according to the House Practices Guide. “Until we figure out how we have another speaker of the House, everything stops,” Rep. Kelly Armstrong, a North Dakota Republican on the House Oversight Committee, told CNN. While House Republicans intend to hold a candidate forum for would-be speakers on Tuesday, it could take time for Republicans to unify behind a single one.

Persons: Kevin McCarthy, Garret Graves, “, Patrick McHenry of, Joe Biden, Graves, ” Graves, ’, “ We’re, James Comer, we’ve, Michael McCaul, Kelly Armstrong, Tom Cole, Jim Jordan of, Steve Scalise, ” Organizations: DC CNN —, Representatives, ”, Louisiana Republican, Republican, CNN, Republicans, Kentucky, Foreign, Texas Republican, North Dakota Republican Locations: Washington, ”, Louisiana, Patrick McHenry of North Carolina, Texas, Oklahoma, Jim Jordan of Ohio, “

☆ The US economy is extremely fragile right now and could tip into a recession within months, according to a new model
▼ + stars: | 2023-10-05 | by ( Cork Gaines | ) www.businessinsider.com time to read: +5 min

A new Bloomberg model shows a better-than-50% chance a recession could begin this year. According to Anna Wong and Tom Orlik, two chief economists at Bloomberg Economics, the model works "fairly well" at matching previous calls of recession. AdvertisementAdvertisementAccording to the model, the US could declare a recession in 2024 following a possible economic dip in the last months of 2023. Other factors not out of the woodsAnd then there are the maybes: the United Auto Workers strike and a potential government shutdown. If the model is correct, there is already a good chance a recession may hit.

Persons: —, Anna Wong, Tom Orlik, Mario Tama, Taylor Swift, Jeff Kravitz, Debbie Downer, Paul Sancya, Kevin McCarthy, It'll Organizations: Bloomberg, Service, National Bureau of Economic Research, Bloomberg Economics, San Francisco Fed, United Auto Workers, Victoria Hall, Ford Michigan Assembly Plant, GM, Ford, AP Locations: Santa Clara , California, Wayne, Mich

CNN —Former President Donald Trump endorsed Ohio Rep. Jim Jordan’s bid for speaker of the House Friday. The former president is not expected to go to Capitol Hill, a source close to Trump said Thursday night. Republicans are slated to hear from speaker candidates at a forum next Tuesday, setting up the next possible House-wide speaker vote on Wednesday, October 11. Trump is “entirely focused” on running for president, the two sources said, characterizing his public posturing on the narrative that he could be elected speaker as Trump relishing the attention. All I can say is we’ll do whatever is best for the country and the Republican Party,” Trump told reporters outside the courthouse in lower Manhattan on Wednesday during a break from his civil fraud trial.

Persons: Donald Trump, Jim Jordan’s, Trump, Jordan “, Steve Scalise, Jordan, McCarthy, ”, I’m, ” Trump, Fox, Kevin McCarthy’s, Troy Nehls, Marjorie Taylor Greene, Mike Lawler, CNN’s Jim Sciutto, Lawler, “ Organizations: CNN, Ohio, Capitol, Republicans, GOP, Fox News Digital, Trump, Republican Party, Republican Locations: Manhattan, Texas, Georgia, New York

☆ Your world in 10 minutes: Listen to the latest on Ukraine and other top stories in our daily podcast
▼ + stars: | 2023-10-05 | by ( ) www.reuters.com time to read: +1 min

European leaders rally around Ukrainian leader Volodymyr Zelenskiy at a summit in Spain. Plus, the latest on the race to elect a new House Speaker, what happened to an Iranian teenager and a World Cup on three continents. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. Further ReadingEuropean leaders rally around Zelenskiy at Spain summitWhat happens next after Kevin McCarthy ousted as U.S. House speaker? Iranian girl in critical condition after alleged encounter over hijab, activists sayOur Standards: The Thomson Reuters Trust Principles.

Persons: Volodymyr Zelenskiy, Kevin McCarthy Organizations: Apple, Google, Reuters, UN, Speaker, Thomson, Reading Locations: Spain, Haiti, Iranian, Zelenskiy

☆ Wall Street sees the market's bumpy ride continuing in the 4th quarter. Here are the risks in store
▼ + stars: | 2023-10-05 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

Many investors expect that could be the capitulation event equities need to bottom out before rebounding. "If you get down to five and a quarter all hell's gonna break loose," Rob Ginsberg, managing director at Wolfe Research. The yield on the 10-year Treasury has spiked sharply to about 4.8% this week, about 1 whole percentage point above where it was in mid-July at around 3.7%. In fact, it won't take much for the positive narrative to start to take hold in markets, Hogan said. Hogan anticipates the S & P 500 could rise to 4,800 by year end, about 13% above where it is currently.

Persons: Rob Ginsberg, Fitch, Ray Dalio, Jamie Dimon, Wolfe Research's Ginsberg, Ginsberg doesn't, You'll, Ginsberg, Riley Financial's Art Hogan, they'll, Read, Hogan, Kevin McCarthy, Goldman Sachs, Jan Hatzius, Katie Stockton, Bank of America's Stephen Suttmeier, Jeffrey Hirsch, I'm, Hirsch Organizations: Dow Jones, Treasury, Wolfe Research, Federal Reserve, JPMorgan, CNBC Pro's, Supply, Bank of America's Locations: Saudi Arabia

SAN FRANCISCO (AP) — Vice President Kamala Harris and Senate Majority Leader Chuck Schumer will be among those delivering remarks at Thursday’s memorial for the late U.S. Sen. Dianne Feinstein on the steps of San Francisco City Hall, where she served as the city’s first female mayor. She wasn’t afraid to go after what she wanted,” said Lawanda Carter, 48, of San Francisco. Former U.S. House Speaker Nancy Pelosi, also of San Francisco, and Mayor London Breed were among the officials who paid their respects. Gavin Newsom, himself a former San Francisco mayor, and former California Gov. She steered San Francisco through the HIV and AIDS crisis, bringing attention to an epidemic ignored by President Ronald Reagan.

Persons: Kamala Harris, Chuck Schumer, Sen, Dianne Feinstein, Feinstein, ”, Lawanda Carter, ” Carter, Feinstein’s, Nancy Pelosi, Adam Russell, Joe Biden, Pelosi, Feinstein's, Eileen Mariano, Gavin Newsom, Jerry Brown, Barbara Boxer, ” Feinstein, George Moscone, Harvey Milk, Georgia Otterson, Feinstein wasn’t, “, Joan Baez, ” Otterson, Ronald Reagan, —, Newsom —, Breed, ” Breed, Dorothy Hudson, Cari Donovan, ” Donovan, “ I’m, Randy Herschaft, Christopher Weber Organizations: FRANCISCO, —, San, San Francisco City Hall, City Hall, Former U.S, Mayor London Breed, D.C, San Francisco, California Gov, U.S, U.S . Senate, Supervisors, Democratic National Convention Locations: U.S, San Francisco, Washington, San, Georgia, Castro District, Francisco, ” San Francisco, New York, Los Angeles

☆ Morning Bid: Nervy bond bounce on soft jobs and oil
▼ + stars: | 2023-10-05 | by ( ) www.reuters.com time to read: +5 min

[1/2] A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. Although both oil and bond yields calmed somewhat overnight, U.S. crude plunged by more than $5 per barrel on Wednesday. The tentative bond bid and shifting interest rate picture stopped the rot in stock markets too, with Wall St stocks rallying on Wednesday and the Nasdaq (.IXIC) staging its biggest daily gain since August. But in a sign of the nervousness, European stock markets stalled again and Wall St futures were back in the red. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Brendan McDermid, Mike Dolan, Kevin McCarthy, Michael Barr, Mary Daly, Thomas Barkin, Loretta Mester, Lamb Weston, Christina Fincher Organizations: New York Stock Exchange, REUTERS, Nasdaq, Wall, Metro Bank, U.S, Federal, San Francisco Fed, Richmond Fed, Cleveland Fed, Treasury, Brands, Constellation Brands, Reuters, Thomson Locations: New York City, U.S, Wall, York

FILE PHOTO:Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. Even as longer-dated Treasury yields eased from 16-year highs on Wednesday, investors remain concerned that the elevated levels may continue to pressure equities. The Labor Department's report showed the number of Americans filing new claims for unemployment benefits rose moderately last week, while layoffs declined in September, pointing to still-resilient labor market conditions. Following a mixed jobs reports earlier this week, focus will be on the more comprehensive September non-farm payrolls data on Friday. Declining issues outnumbered advancers for a 1.50-to-1 ratio on the NYSE and a 1.22-to-1 ratio on the Nasdaq.

Persons: Brendan McDermid, Charles, Henry Monchau, Neel Kashkari, Richmond's Thomas Barkin, Mary Daly, Michael Barr, Kevin McCarthy, Steve Scalise, Jim Jordan, Joe Biden, VinFast, Lamb, advancers, Ankika Biswas, Shashwat Chauhan, Shounak Dasgupta Organizations: New York Stock Exchange, REUTERS, Companies, Dow, Nasdaq, U.S, Treasury, Syz Group, Healthcare, Labor, Dow Jones, Traders, Federal, Democratic, Rivian, EV, Dell Technologies, Lamb Weston Holdings, NYSE, Thomson Locations: New York City, U.S, Minneapolis, Bengaluru

☆ Trump endorses Jim Jordan to be House speaker
▼ + stars: | 2023-10-05 | by ( David Morgan | ) www.reuters.com time to read: +3 min

REUTERS/Kevin Lamarque/File Photo Acquire Licensing RightsWASHINGTON, Oct 6 (Reuters) - Donald Trump is endorsing Congressman Jim Jordan to replace ousted U.S. House Speaker Kevin McCarthy, the former president said on Friday, as the chamber's fractious Republicans try to unify in the aftermath of McCarthy's historic fall. Jim, his wife, Polly, & family are outstanding - He will be a GREAT Speaker of the House, & has my Complete & Total Endorsement!" But acrimony and resentment over McCarthy's ouster could make nominating a new speaker a challenge for House Republicans. House Republican rules prohibit a speaker who is under felony indictment. Trump's pull with House Republicans has been tested at times this year.

Persons: Donald Trump, Kevin Lamarque, Jim Jordan, Kevin McCarthy, Jordan, Jim, Trump, Joe Biden, McCarthy, Steve Scalise, Biden, Democrat Joe Biden, David Morgan, Andy Sullivan, Costas Pitas, Nathan Layne, Nilutpal, Scott Malone, Howard Goller, Gerry Doyle Organizations: White, Washington , D.C, REUTERS, Rights, U.S, Military, Democratic, Fox News, Republicans, Republican, House Republicans, House, Capitol, Democrat, Thomson Locations: Washington ,, Jordan, Ohio, New York

☆ Mitch McConnell says House Republicans should get rid of the motion to vacate because it 'makes the Speaker's job impossible'
▼ + stars: | 2023-10-05 | by ( Matthew Loh | ) www.businessinsider.com time to read: +3 min

Mitch McConnell on Wednesday called for the motion to vacate House rule to be scrapped. McConnell said the provision made the House Speaker's role "impossible." AdvertisementAdvertisementSenate Minority Mitch McConnell on Wednesday called for House Republicans to ditch the rule that allowed for Kevin McCarthy's ouster. Speaking to reporters the day after McCarthy lost the position, McConnell said he thinks the motion to vacate makes the Speaker's job "impossible." "I have no advice to give House Republicans except one: I hope whoever the next Speaker is, gets rid of the motion to vacate," he said.

Persons: Mitch McConnell, McConnell, —, Kevin McCarthy's, McCarthy, McCarthy's, Matt Gaetz Organizations: Service, House Republicans, GOP, Gaetz, Republican, Republican Main Street Caucus, Conservatives Locations: Florida

☆ Rep. Brian Fitzpatrick: The problem right now is you get punished if you reach across the aisle
▼ + stars: | 2023-10-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRep. Brian Fitzpatrick: The problem right now is you get punished if you reach across the aisleHouse Problem Solvers Caucus co-chair Rep. Brian Fitzpatrick (R-Pa.) joins 'Squawk Box' to discuss the chaos on Capitol Hill, the turmoil facing the bipartisan House Problem Solvers Caucus after reports say at least some Republicans are considering quitting the group following the vote to oust Kevin McCarthy as House Speaker, and more.

Persons: Brian Fitzpatrick, Kevin McCarthy

☆ George Santos former campaign treasurer to plead guilty in federal court
▼ + stars: | 2023-10-05 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +2 min

The former campaign treasurer to Rep. George Santos of New York will plead guilty Thursday in connection with a criminal case against the Republican congressman, according to a spokesman for prosecutors. That filing said prosecutors will file a so-called information against Marks; such charging documents are routinely used when a defendant has agreed to plead guilty. Santos was charged in May with a 13-count federal indictment in the same court accusing him of campaign finance fraud, money laundering and other crimes. A spokesman for U.S. Attorney's Office for the Eastern District of New York declined to say what Marks will plead guilty to. In August, Samuel Miele, a former Santos fundraiser, was charged in the same federal court with impersonating a top aide to former House Speaker Kevin McCarthy while seeking campaign donations.

Persons: George Santos, Nancy Marks, Marks, Santos, Samuel Miele, Kevin McCarthy Organizations: Republican, Court, U.S, Attorney's, Eastern, of Locations: George Santos of New York, Central Islip , New York, Long, of New York, Nassau County, Queens

☆ Matt Gaetz Says He Took Erectile Dysfunction Drugs: GOP Senator
▼ + stars: | 2023-10-05 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

Rep. Matt Gaetz once said he took erectile dysfunction drugs with sports drinks, says a GOP senator. Sen. Markwayne Mullin told CNN on Wednesday that Gaetz said he did it "so he could go all night." AdvertisementAdvertisementSen. Markwayne Mullin of Oklahoma said on Wednesday that Rep. Matt Gaetz once boasted to other lawmakers about consuming erectile dysfunction drugs with sports drinks. medicine and chase it with energy drinks so he could go all night," Mullin told CNN's Manu Raju. "I wish him well," Gaetz told Ingraham.

Persons: Matt Gaetz, Sen, Markwayne Mullin, Gaetz, Mullin, —, E.D, CNN's Manu Raju, Kevin McCarthy, he's, Fox, Laura Ingraham, McCarthy, Ingraham, Patrick Henry of North Organizations: GOP, CNN, Service, Oklahoma, Department, Gaetz Locations: Florida, Patrick Henry of North Carolina

☆ CNBC Daily Open: Investors got a brief reprieve
▼ + stars: | 2023-10-05 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange during morning trading on October 04, 2023 in New York City. This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Stocks climbed, yields retreatedU.S. stocks climbed Wednesday and Treasury yields retreated, helping the Dow Jones Industrial Average break its three-day losing streak. Here's how he's planning to manage the risk, and what he's buying to hedge against possible losses.

Persons: Stocks, Kospi, payrolls, Marc, Antoine Julliard, Sam Bankman, Jim Jordan, Steve Scalise, Kevin McCarthy, Jordan's, Donald Trump, who's, Matthew McLennan Organizations: New York Stock Exchange, CNBC, Treasury, Dow Jones, Japan's Nikkei, ADP, FTX, Speaker U.S, Freedom Caucus, Former U.S Locations: New York City, Asia, Pacific, Former, U.S

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