1
Trump Grand Jury Ends with No Charges
The grand jury convened last year to look into evidence against former President Donald Trump is set to expire this week without any charges being brought. The investigation was being headed by Manhattan District Attorney Alvin Bragg (D), who inherited a probe launched by his predecessor, Cyrus R. Vance Jr.
Notable Quotes: A spokesperson for Bragg said that “New York County has grand juries sitting all the time. There is no magic at all to any previously reported [grand jury] dates.”
2
Report: President Joe Biden Will Move Ahead with Student Loan Forgiveness
President Joe Biden is set to unveil a plan that includes student loan forgiveness for at least $10,000 per borrower, according to media reports. The figure is $10,000, but sources told The Hill that the White House could look at a larger number right now. Biden campaigned on this figure, but other prominent Democrats, including Senate Majority Leader Chuck Schumer (D-NY), have proposed $50,000.
Why Now? President Biden has lost notable support among young voters as his approval rating with this group of Americans stood at 41%, according to the Institute of Politics at Harvard Kennedy School.
3
Donald Trump Endorses Mike Pence’s Brother in Re-Election Bid in Indiana
Former President Donald Trump endorsed Rep. Greg Pence (R-IN) in his re-election bid in Indiana’s 6th Congressional district. He is the brother of former Vice President Mike Pence. Relations between Trump and Pence have been tense since the former vice president stated that he did not have the legal authority to overturn the 2020 election. However, Rep. Pence voted to object to the electoral votes in Pennsylvania.
Notable Quote: “Congressman Greg Pence is doing a great job representing the people of Indiana’s 6th Congressional District,” Trump wrote. “A former First Lieutenant in the U.S. Marine Corps, Greg continues to proudly serve our Country in the U.S. House of Representatives. Greg is working hard to reverse Joe Biden’s disastrous record of out-of-control Inflation and restore the respect our Country deserves from abroad. He is Strong on the Border, Protects Life, Defends the Second Amendment, and Supports our brave Military and Vets. Greg Pence has my Complete and Total Endorsement!”
4
US Financial Markets Crater to Finish Brutal April
The US financial markets recorded massive losses to end a brutal trading month, with all the leading benchmark indexes deep in the red on Apr. 29. The Dow Jones Industrial Average lost 939 points, the NASDAQ Composite Index shed 537 points, and the S&P 500 slumped 155 points. All three indexes posted weekly and monthly losses, while the NASDAQ and S&P endured new 2022 lows. Many commodities were in the red too, including crude oil, silver, copper, and agriculture.
Why Wall Street Bled: Investors hit the “Sell” button due to multiple factors, including the Federal Reserve expected to be more aggressive on monetary policy, surging inflation, rising Treasury yields, the Ukraine-Russia military conflict, and a new COVID-19 outbreak in China.
Be Afraid? “The current market performance is threatening to make a transition from a longish and painful ‘correction’ to something more troubling,” wrote Marketfield Asset Management Chairman Michael Shaoul in a research note.
5
Bill Barr Calls Potential Trump Republican Nomination in 2024 A ‘Big Mistake’
Former Attorney General William Barr does not think former President Donald Trump should be the Republican Party nominee in 2024, telling Newsmax that it would be “a big mistake to put him forward.” Barr has repeatedly criticized Trump in recent months, with the real estate billionaire mogul replying by calling him “slow,” “lethargic,” and a “swamp creature.”
Republicans Want Trump: Polls show that most GOP voters want Trump to get the 2024 presidential nod. But Gov. Ron DeSantis (R-FL) is in a close second for many Republican voters. Both men would perform well against either President Biden or Vice President Kamala Harris in a hypothetical 2024 election matchup.
6
China’s Manufacturing Sector Contracts Worse Than Expected
Chinese manufacturing took a steep hit in April as the world’s second-largest economy endured renewed lockdowns and other public health restrictions in response to the new COVID-19 infections. Last month, the manufacturing purchasing managers’ index (PMI) fell to 47.4, worse than economists’ expectations, according to the National Bureau of Statistics (NBS). The non-manufacturing PMI plunged to 41.9 in April. Both readings reported a drop in new export orders, a slide in employment levels, higher input prices, and weakened business confidence.
Help Is on The Way: China has promised to employ fiscal and monetary stimulus and relief measures to cushion the blows from the nation’s COVID Zero strategy. China is currently reporting about 28,000 new cases a day, forcing the government to lock down 180 million people and shutting down entire cities, including the key economic hub of Shanghai. The Central Government and the People’s Bank of China (PBoC) are easing policies, such as cutting the amount banks are required to have on hand, to spur economic growth.