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Deere & Co (DE.N) rose 4.4% after the heavy machinery company raised its annual net income forecast buoyed by robust farm incomes. The benchmark S&P 500 index (.SPX) and the Nasdaq (.IXIC) were set for their best weekly performance since late March amid positive debt ceiling talks, less-than-feared earnings and economic data. The S&P 500 banks index (.SPXBK) is on course to end the week 5.4% higher, snapping a three-week losing streak. Over 90% of S&P 500 companies have reported, of which around 77% beat earnings expectations, according to Refinitiv data. The S&P index recorded 27 new 52-week highs and one new low, while the Nasdaq recorded 58 new highs and 28 new lows.

S&P 500 futures hit a 15-week high in early trading, while Nasdaq e-minis breached levels not seen in nine months. The positive momentum carried through for much of the week as investors tracked progress in talks between top U.S. lawmakers for an agreement on increasing the $31.4 trillion debt ceiling. ET, Dow e-minis were up 101 points, or 0.3%, S&P 500 e-minis were up 12.25 points, or 0.29%, and Nasdaq 100 e-minis were up 6 points, or 0.04%. The benchmark S&P 500 index (.SPX) and the Nasdaq (.IXIC) were set for their best weekly performance since late March amid positive debt ceiling talks, less-than-feared earnings and economic data. The S&P 500 banks index (.SPXBK) is on course to end the week 5.3% higher, snapping a three-week losing streak.

☆ Futures edge higher on hopes of debt deal
▼ + stars: | 2023-05-19 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies Futures up: Dow 0.10%, S&P 0.13%, Nasdaq 0.14%May 19 (Reuters) - U.S. stock index futures edged higher on Friday on optimism that a deal to avoid a catastrophic U.S. debt default could be reached over the weekend. ET, Dow e-minis were up 32 points, or 0.1%, S&P 500 e-minis were up 5.5 points, or 0.13%, and Nasdaq 100 e-minis were up 20 points, or 0.14%. S&P 500 futures hit a 15-week high in early trading, while Nasdaq e-minis breached levels not seen in nine months. The benchmark S&P 500 index (.SPX) and the Nasdaq (.IXIC) were set for their best weekly performance since late March amid positive debt ceiling talks, less-than-feared earnings and economic data. Reporting by Shreyashi Sanyal in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

☆ Republican Senator Tim Scott to run for president
▼ + stars: | 2023-05-19 | by ( Reuters Editorial | ) www.reuters.com time to read: 1 min

PoliticsRepublican Senator Tim Scott to run for presidentPostedRepublican U.S. Senator Tim Scott has entered the 2024 presidential race, according to a filing with the U.S. election regulator on Friday, in what amounts to a long-shot bet that a message of unity and optimism can still appeal in a party where many voters are hungry for a bare-knuckled fight. This report produced by Freddie Joyner.

☆ US House hardliners could try to block debt-ceiling deal without 'robust' cuts
▼ + stars: | 2023-05-18 | by ( David Morgan | ) www.reuters.com time to read: +4 min

WASHINGTON, May 18 (Reuters) - President Joe Biden and Republican U.S. House Speaker Kevin McCarthy have voiced growing confidence about striking a debt-ceiling deal to avoid a catastrophic default, but they could be tripped up by last-minute opposition from the hardline House Freedom Caucus. We need something that's going to work," said Representative Chip Roy, a prominent Freedom Caucus member. Freedom Caucus members are demanding greater spending austerity than some Democrats will accept. Something tepid won't do," said Representative Dan Bishop, a Freedom Caucus member. "There should be no further discussion until the Senate passes the legislation," the Freedom Caucus statement said.

LAKE CHARLES, La., May 18 (Reuters) - In Washington, Republican U.S. Representative Clay Higgins has been a vocal advocate for spending cuts. As a member of the hard-right Freedom Caucus, Higgins was an early advocate for dramatic spending cuts, many of which ended up in the House bill. He hopes the spending cuts backed by Higgins won't affect local efforts to provide affordable housing. When it comes to spending, Higgins has been a solid "no" in Washington. For some local residents, Higgins' push for spending cuts in the face of so much need remains incomprehensible.

The majority of those bills specifically affect transgender people, touching on nearly every aspect of a transgender person's public life. And the vulnerability of most Republican state legislators right now is in the primary, if at all," Allen said. The bill he signed on Wednesday also adds obstacles for transgender adults and grants courts jurisdiction in child custody battles in some cases involving gender-affirming care. Demonstrators swarmed the Texas House, leading lawmakers to send a bill banning gender-affirming care back to committee. In Montana, protests contributed to the censure of transgender state Representative Zooey Zephyr, who was banned from the state House floor by Republican legislators.

The opulent hotel with a soaring clock tower, located on Pennsylvania Avenue between the White House and the U.S. Capitol, opened shortly before Trump was elected in 2016. The hotel became a gathering spot for Trump supporters, lobbyists and foreign dignitaries, who Democrats and watchdog groups complained could patronize the hotel in order to curry favor with Trump when he was in office. Lawsuits accused Trump of violating the U.S. Constitution's anti-corruption provisions by maintaining ownership of his businesses including the Washington hotel while in office. The justices ordered those cases dismissed because they became moot with Trump leaving office in 2021 after his election loss to Biden, a Democrat. Some of the lawmakers who sued are no longer part of the committee while some others are no longer in Congress.

"That combination of overclassification and then too many people having clearances has led us to this problem," Warner told a news conference. He said more than 4 million people in the United States now have security clearance. Attorney General Merrick Garland has also appointed special counsels to investigate the handling of classified records by Republican former President Donald Trump and the handling of classified records from his time as vice president by current Democratic President Joe Biden. The path forward for the bills was not immediately clear but the senators said they hoped the recent attention on the clearance issue would help. "This is a piece of legislation that can become law and it is desperately needed for that to happen," Moran said.

☆ US Rep. Santos charged with fraud, money laundering -statement
▼ + stars: | 2023-05-10 | by ( ) www.reuters.com time to read: 1 min

☆ George Santos said to face federal charges: CNN
▼ + stars: | 2023-05-10 | by ( Reuters Editorial | ) www.reuters.com time to read: 1 min

PoliticsGeorge Santos said to face federal charges: CNNPostedU.S. federal prosecutors have filed criminal charges against George Santos, the embattled Republican U.S. congressman who has admitted to lying about his resume but defied calls to step down, CNN reported on Tuesday, citing three sources. Ryan Brooks reports.

☆ US Rep. Santos charged with fraud, money laundering -DOJ statement
▼ + stars: | 2023-05-10 | by ( ) www.reuters.com time to read: +1 min

NEW YORK, May 10 (Reuters) - Republican U.S. Representative George Santos, who has resisted calls to resign for lying about his resume, was charged with fraud, money laundering and theft of public funds, the Justice Department said in a statement on Wednesday. He was expected to appear later in the day at a federal court in New York. An Associated Press reporter who reached him by phone Tuesday quoted Santos as saying: "This is news to me. Among other claims, Santos said he had degrees from New York University and Baruch College, despite neither institution's having any record of his attending. Santos, who identifies as gay, also failed to disclose that he was married to a woman for several years ending in 2019.

☆ Republican Speaker McCarthy opposes extending debt-ceiling through fiscal year
▼ + stars: | 2023-05-09 | by ( ) www.reuters.com time to read: 1 min

WASHINGTON, May 9 (Reuters) - Republican U.S. House of Representatives Speaker Kevin McCarthy said on Tuesday he opposes the idea of extending the nation's debt-ceiling through the end of the fiscal year on Sept. 30, ahead of an afternoon meeting with Democratic President Joe Biden. Asked by reporters whether he would support such a move to help the U.S. avoid defaulting on its $31.4 trillion in debt, McCarthy replied "no." "Just get this done now," added McCarthy, who has said he will not pass an increase in the borrowing limit without an agreement to cut spending. Referring to Biden, he added, "he's got to stop ignoring problems. Reporting by David Morgan; Editing by Scott MaloneOur Standards: The Thomson Reuters Trust Principles.

☆ Embattled Republican Rep. George Santos to face federal charges -CNN
▼ + stars: | 2023-05-09 | by ( ) www.reuters.com time to read: +3 min

Santos is expected to appear as soon as Wednesday in federal court in New York's Eastern District, where charges have been filed under seal, CNN reported. The Associated Press reported that in a brief phone interview Santos said he was unaware of the charges. Santos' office did not immediately respond to a request for comment, and his lawyer could not immediately be reached. CNN reported that the exact nature of the charges against Santos were not immediately clear. Santos' office, through his congressional Twitter account, has previously said he is cooperating with the House Ethics Committee's investigation.

Summary Trump's lawyer calls the case an 'affront to justice'Jury due to begin deliberations on TuesdayNEW YORK, May 8 (Reuters) - Donald Trump's absence from a trial where writer E. Jean Carroll accuses him of rape and defamation shows that "he did it," a lawyer for Carroll said on Monday, while Trump's lawyer told jurors the case was "outrageous." "He never looked you in the eye and denied raping Ms. Carroll," lawyer Mike Ferrara told jurors as the civil trial in Manhattan federal court neared the end of an eighth day. Jurors also heard from two other women who said Trump sexually assaulted them in separate incidents decades ago. She said Carroll had been unable to sustain a romantic relationship since the alleged rape, and that Trump's public criticism had harmed her client's reputation. Reporting by Luc Cohen in New York; Editing by Will Dunham and Noeleen WalderOur Standards: The Thomson Reuters Trust Principles.

[1/3] E. Jean Carroll, former U.S. President Donald Trump rape accuser, arrives at Manhattan Federal Court for the continuation of the civil case, in New York City, U.S., May 8, 2023. REUTERS/David 'Dee' DelgadoSummary 'Grab 'em' remark undermines denials, accuser's lawyer saysJury due to deliberate in rape and defamation case on TuesdayNEW YORK, May 8 (Reuters) - Donald Trump's lawyer on Monday called a rape and defamation case brought by the writer E. Jean Carroll against the former U.S. president an affront to the justice system. She has abused this system by bringing a false claim for amongst other things money, status, political reasons," Tacopina said. Trump accuses Carroll of making up the story to drive sales of a 2019 memoir in which she made her claims public. U.S. District Judge Lewis Kaplan, who is not related to Carroll's lawyer, said he expected jurors to begin deliberating on Tuesday.

[1/3] E. Jean Carroll, former U.S. President Donald Trump rape accuser, arrives at Manhattan Federal Court for the continuation of the civil case, in New York City, U.S., May 8, 2023. U.S. District Judge Lewis Kaplan, who is not related to Carroll's lawyer, said he expected jurors to begin deliberating on Tuesday. "The truth is that E. Jean Carroll, a former cheerleader and Miss Indiana, was exactly Donald Trump's type," Kaplan, Carroll's lawyer, said during closing arguments. "Donald Trump here is a witness against himself." Jurors also heard from two other women who said Trump sexually assaulted them in separate alleged incidents decades ago.

[1/2] E. Jean Carroll, former U.S. President Donald Trump rape accuser, walks at Manhattan Federal Court following a civil case, in New York City, U.S., April 26, 2023. Trump has so far not attended the trial, which began on April 25, but told reporters in Ireland last Thursday that he "probably" would attend. Kaplan has scheduled closing arguments for Monday, with jurors due to begin deliberations after that. Jurors also heard from two other women who said Trump sexually assaulted them in separate alleged incidents decades ago. In a video deposition played for the jury last Wednesday, Trump denied raping Carroll.

☆ Trump will not testify in New York rape, defamation trial
▼ + stars: | 2023-05-08 | by ( Luc Cohen | Hannah Lang | ) www.reuters.com time to read: +2 min

FILE PHOTO: Former U.S. President and Republican presidential candidate Donald Trump attends a campaign event in Manchester, New Hampshire, U.S., April 27, 2023. REUTERS/Brian Snyder(Reuters) - Former U.S. President Donald Trump will not testify at a civil trial to challenge claims made by writer E. Jean Carroll that he raped her in the 1990s and later defamed her, after letting a Sunday deadline pass without asking the court to appear. In response to a Reuters request for comment, Tacopina said in a statement what Trump’s legal team had already told the court on Thursday, that the former president would not testify in the case. In a video deposition played for the jury on Wednesday, Trump denied raping Carroll. “It’s the most ridiculous, disgusting story,” Trump said in the video, hunched over a conference table as Carroll’s lawyers presented documents to him.

☆ Analysis: As DeSantis readies 2024 presidential bid, Florida lawmakers hand him fresh ammo
▼ + stars: | 2023-05-03 | by ( James Oliphant | ) www.reuters.com time to read: +7 min

WASHINGTON, May 3 (Reuters) - Republican Florida Governor Ron DeSantis had counted on a productive state legislative session this spring to turbocharge his coming 2024 presidential bid. With the first presidential nominating contest still nine months away, political analysts say DeSantis has plenty of time to turn his fortunes around. Lawmakers on Tuesday passed an immigration measure that would provide more money for DeSantis’ program for relocating undocumented migrants. POTENTIAL PERILSThe six-week abortion ban remains the thorniest outcome of the session for DeSantis’ national aspirations. The governor did not expressly advocate for the bill, and he signed it without fanfare to replace the current 15-week ban.

☆ US Senator Tim Scott teases May 22 announcement on presidential bid
▼ + stars: | 2023-04-30 | by ( ) www.reuters.com time to read: +1 min

Senator Tim Scott plans to announce his decision on entering the 2024 presidential on May 22, according to media reports on Sunday, in a potential challenge to former President Donald Trump for the party's nomination. He made the announcement at a town hall in South Carolina on Sunday, according to media reports. Scott launched a presidential exploratory committee earlier this month, which allowed him to raise his national profile and continue fundraising with fewer regulatory limitations than a formal campaign. If Scott formally announces his intent to enter the presidential race, he will join former South Carolina Governor Nikki Haley in the quest for the Republican nomination. Former biotech executive Vivek Ramaswamy, conservative talk radio host Larry Elder and former Arkansas Governor Asa Hutchinson are also Republican contenders.

[1/2] Florida Governor Ron DeSantis speaks at the 2023 NHGOP Amos Tuck Dinner in Manchester, New Hampshire, U.S., April 14, 2023. REUTERS/Brian SnyderApril 26 (Reuters) - In his face-off with Walt Disney Co (DIS.N), Florida Governor Ron DeSantis has frequently adopted the pose of a swaggering gunfighter out of the Wild West. “There’s a new sheriff in town,” DeSantis boasts to conservative audiences nationwide as he prepares to launch his 2024 presidential bid. But as his clash with Disney escalates, so does the political risk for DeSantis and his nascent campaign. Billionaire Ken Griffin of Citadel Securities last year remarked that DeSantis’ actions amounted to “retaliation against corporate America.”“The war with Disney made some sense for a time in the context of Governor DeSantis’ presidential aspirations.

CHICAGO, April 26 (Reuters) - Former U.S. Treasury Secretary Lawrence Summers said the odds that the U.S. government could face a technical debt default due to legislation around its borrowing limit were at around 2%-3%, but that any default would be fixed quickly. A standoff between Republicans and Democrats over raising the U.S. borrowing limit has started to impact money markets, with incoming tax receipts recently indicating that the deadline to raise the $31.4 trillion borrowing limit could be sooner than expected. "I think the odds on a technical default associated with the debt limit legislation over the next few months are 2% or 3%, and if it happens it will be repaired fairly quickly," Summers said at a Morningstar investment conference in Chicago. On the other hand, the White House has called on Congress to raise the debt limit without conditions, as it did three times under Biden's Republican predecessor, Donald Trump. JPMorgan warned last week that there was a "non-trivial" risk of a technical default on U.S. Treasuries, and that the debate over the debt ceiling would likely run "dangerously close" to its final deadline.

WASHINGTON, April 26 (Reuters) - Republican U.S. House Speaker Kevin McCarthy said lawmakers would vote on Wednesday on a bill to raise the $31.4 trillion federal debt ceiling and slash spending, despite lingering dissension within their ranks over the measure. Another critic of the bill, hardline House Freedom Caucus Chairman Scott Perry, said he and other conservatives who had held out for changes to work requirements were ready to move forward. Representative Kevin Hern, chairman of the 175-member Republican Study Committee, welcomed the changes, which he said most Republicans would support. Bending to the far-right wing of the party, Republicans also accelerated some new, tougher work requirements for receiving Medicaid healthcare benefits for the poor. House Republicans are offering to increase Washington's borrowing authority by $1.5 trillion or until March 31, whichever comes first.

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