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Stocks rally...Trump says he’d consider raising some taxes to cover cuts for middle class

November 7, 2018

NEW YORK (AP) — Stock and bond prices are climbing in afternoon trading on Wall Street. Big-name technology and consumer companies are making some of the largest gains. The results of yesterday’s midterm elections were largely in line with expectations, with Democrats winning control of the House of Representatives and Republicans keeping a majority in the Senate.

NEW YORK (AP) — The outcome of the midterm elections was good for the stock market in general, mostly because it didn’t produce any big surprises, but it was especially good for the health care industry and several other companies. Health insurers rose sharply Wednesday as investors anticipated that any prospects of repealing the Affordable Care Act diminished greatly now that Democrats control the House.

WASHINGTON (AP) — President Donald Trump says he would consider raising other tax rates to pay for a middle-class tax cut. Trump said at a White House news conference that if Democrats offer an idea for tax cuts he would work with them, even if it would require “some adjustment” to other rates. He says Democrats would need to propose a plan, given that he would need bipartisan support in the Senate.

WASHINGTON (AP) — House Democratic Leader Nancy Pelosi says Democrats will have a “responsibility for oversight” when they take charge of the House in January. If elected speaker, Pelosi says she will leave final decisions about that oversight to committees. She wouldn’t answer a question about whether they will seek President Donald Trump’s tax filings. Democrats are expected to investigate Trump’s business dealings, his Cabinet’s conduct and his campaign’s ties to Russia.

BATON ROUGE, La. (AP) — The longtime CEO of a Louisiana hospital foundation has been fired following an investigation that found “a pattern of forgery and embezzlement of funds.” The Advocate reports that Our Lady of the Lake Regional Medical Center has announced that John Paul Funes had been fired from its nonprofit fundraising arm after a third-party investigation.

Update hourly