News N Things
Democrats assess their losses and push forward on Biden's Build Back Better plan; stocks hit record highs; Biden orders a sweeping cyber security order.
Top 3 Stories:
1) Democratic Election Post Mortum:
“Although they had braced for a close race for Virginia governor, Democrats were caught off guard by the intensity of the backlash against their party in major off-year elections. Republicans claimed all three statewide offices in Virginia, will likely take control of the state’s House of Delegates and came close to upsetting Gov. Phil Murphy of New Jersey, whose re-election had been presumed safe by officials in both parties. Just as jarring for Democrats were some of the less prominent contests: The powerful New Jersey State Senate president, Steve Sweeney, was trailing a truck driver who ran a shoestring campaign; a Latino Republican flipped a Democratic seat in South San Antonio; and Democrats were thrashed in local races across Long Island. The scope of the party’s setbacks illustrated that voters were fatigued from the demands of the still-continuing coronavirus pandemic and angry about the soaring prices and scarcity of goods they were confronting every day. While Democrats’ strength in cities and some large suburbs saved them from even deeper losses, their electoral coalition showed signs of fraying as voters vented their unhappiness with the party in power.” (NEW YORK TIMES)
2) Stocks Hit Records:
“Major U.S. stock indexes hit concurrent records for a fourth consecutive session after the Federal Reserve approved plans to start scaling back its bond-buying stimulus program. The S&P 500 hit session highs after Chairman Jerome Powell’s postmeeting press conference. The broad stock-market gauge rose 29.92 points, or 0.6%, to 4660.57. The Dow Jones Industrial Average added 104.95 points, or 0.3%, to 36157.58. The technology-heavy Nasdaq Composite Index gained 161.98 points, or 1%, to 15811.58, rising for an eighth consecutive session. All three indexes finished at highs. The Federal Reserve concluded its two-day meeting and announced plans to end its bond-buying program but keep rates unchanged. Investors were prepared for the Fed to start dialing back its bond purchases and were focused on how the Fed approached rising prices. Mr. Powell put greater emphasis on the uncertainty facing the outlook for inflation and the Fed’s statement described high inflation as “largely reflecting transitory factors.” “It was more dovish than markets expected,” said Mona Mahajan, senior investment strategist at Edward Jones, of the outcome and press conference. “Anytime there’s a whiff of lower rates, we tend to get favorable market reactions.” Low interest rates have been a boost for growth stocks, and the tech-heavy Nasdaq outperformed its peers and finished its longest winning streak since 2020.” (WALL STREET JOURNAL)
3) Biden Orders Massive Cyber Security Ramp Up:
“The Biden administration is ordering federal agencies to fix hundreds of vulnerabilities in software and hardware that hackers have been known to exploit, according to a new government directive released Wednesday. The first-of-its-kind directive, issued by the DHS Cybersecurity and Infrastructure Security Agency, includes a list of vulnerabilities "that carry significant risk to the federal enterprise" with technical specifics that agency leaders are required to review and address within 60 days. Some areas will require a more immediate fix, according to CISA. “Cybersecurity threats are among the greatest challenges facing our Nation," Homeland Security Secretary Alejandro Mayorkas said in a statement Wednesday. "Organizations of all sizes, including the federal government, must protect against malicious cyber actors who seek to infiltrate our systems, compromise our data, and endanger American lives.” U.S. information systems have fallen victim to an increasing number of cyber attacks in recent years targeting schools, hospitals and critical infrastructure. A 2020 cyber intrusion into the U.S. company SolarWinds, which sells software to the federal government, was not discovered until months after malicious code was injected into a routine software update. The discovery sent government officials scrambling to determine if their systems were compromised.” (ABC NEWS)
Daily Verse:
Colossians 3:23-24 NIV Whatever you do, work at it with all your heart, as working for the Lord, not for men, since you know that you will receive an inheritance from the Lord as a reward. It is the Lord Christ you are serving.
The President’s Schedule:
The President has no public events scheduled.
This Day in History
“British archaeologist Howard Carter and his workmen discover a step leading to the tomb of King Tutankhamen in the Valley of the Kings in Egypt on November 4, 1922” (HISTORY)
Daily Quote:
“I want to put a ding in the universe." - Steve Jobs
Daily Joke:
My girlfriend borrowed $100 from me. After 3 years, when we seperated, she returned exactly $100. I lost interest in that relationship.
Environment:
PRE-PANDEMIC POLLUTION LEVELS ARE BACK: “The dramatic drop in carbon dioxide emissions from the pandemic lockdown has pretty much disappeared in a puff of coal-fired smoke, much of it from China, a new scientific study found. A group of scientists who track heat-trapping gases that cause climate change said the first nine months of this year put emissions a tad under 2019 levels. They estimate that in 2021 the world will have spewed 36.4 billion metric tons of carbon dioxide, compared to 36.7 billion metric tons two years ago. At the height of the pandemic last year, emissions were down to 34.8 billion metric tons, so this year’s jump is 4.9%, according to updated calculations by Global Carbon Project. While most countries went back to pre-pandemic trends, China’s pollution increase was mostly responsible for worldwide figures bouncing back to 2019 levels rather then dropping significantly below them, said study co-author Corinne LeQuere, a climate scientist at the University of East Anglia in the United Kingdom. With 2020′s dramatically clean air in cities from India to Italy, some people may have hoped the world was on the right track in reducing carbon pollution, but scientists said that wasn’t the case.” (ASSOCIATED PRESS)
Culture:
TIGER KING HAS CANCER: “Joseph Maldonado, known as Joe Exotic on the 2020 Netflix docuseries "Tiger King: Murder, Mayhem and Madness," has been diagnosed with an aggressive form of prostate cancer, according to a letter written by Maldonado. "It is with a sad face that I have to tell you the doctors called me in today to break the news that my prostate biopsy came back with an aggressive cancer. I am still waiting on the results from other test as well," he wrote in a letter provided to CNN by his attorney John M. Phillips. "Right now, I don't want anyone's pity," he added. Maldonado has been undergoing medical treatment and tests for a host of issues, according to his attorney. "The PSA test is a blood test used primarily to screen for prostate cancer. It was high. He finally obtained biopsies. They revealed cancer. Medical care is different in a prison environment and fewer options are available," Phillips said.” (CNN)
Sports:
RAIDERS WIDE RECIEVER KILLS 23-YEAR-OLD: “Former Las Vegas Raiders wide receiver Henry Ruggs III was speeding at 156 mph with twice the legal limit of alcohol in his system before he slammed into another car, killing that driver, officials said Wednesday. Ruggs was in a wheelchair and wearing a neck brace during his first appearance in Las Vegas Justice Court, where a judge set the player's bail at $150,000. Clark County prosecutors had asked for $1 million bail for Ruggs, who was booked into custody Tuesday night on suspicion of DUI resulting in substantial bodily harm or death and reckless driving, officials said. Ruggs could still face other, more serious charges stemming from Tuesday's fatal crash when he was behind the wheel of a Corvette that slammed into the back of a Toyota Rav4 at 3:39 a.m. PDT on Tuesday, police said.”Chief Deputy District Attorney Eric Bauman said he was particularly troubled by the crash because pro football players can get free rides home through their union in a program aimed at curtailing impaired driving. (NBC NEWS)
Health:
RUSSIA REELING FROM FOURTH WAVE OF COVID: “Russia's deadly fourth wave of COVID-19 continues to set grim daily records for both deaths and case numbers. Almost every day throughout October saw higher figures, and the trend has continued into the new month. On Wednesday, health officials reported yet another all-time high of 1,189 coronavirus fatalities over the previous 24 hours, and more than 40,000 new infections. Russia's official death toll from COVID-19 stands at 242,060, but the government's own data on excess mortalities suggest the actual toll could be significantly higher, with as many as 750,000 lives lost to the virus. That would make it the highest in Europe per capita. But despite the alarming numbers, Russian officials have been reluctant to take decisive action. To fight the current surge, authorities brought back the so-called "non-working week," imposing a nationwide shutdown of non-essential workplaces and all schools, until November 7. In most regions, bars, restaurants and entertainment venues have been closed.” (CBS NEWS)