US Economy - Voodoo Economics: Even though Stocks jump on hopes for a coronavirus stimulus package - "reality of positive effect is still very nebulous - by Jessica Menton

U.S. stocks advanced Tuesday on hopes that Congress would pass a stimulus bill to shield the economy from the coronavirus pandemic.

The Dow Jones Industrial Average rallied more than 1,600 points after slumping to a three-year low a day earlier. The Standard & Poor’s 500 jumped 7.5%. Stock futures had briefly surged 5%, triggering an automatic shock absorber.

Stocks stabilized overnight after a turbulent start to the week as Congress was nearing a rescue plan that could inject $2 trillion into the economy. The measure is designed to provide direct payments of $1,200 to most Americans, help small businesses shuttered across the country and aid the hard-hit travel industry.

House Speaker Nancy Pelosi said Tuesday morning a deal on an economic stimulus package may be reached in the "next few hours."

Read more at: Dow: Stocks jump on hopes for a coronavirus stimulus package

EU-US Trade Negotiations: Concerns rise over US-EU trade talks - as Europe demonstrates against talks - by Andrew Walker

An eneven match

There are rising concerns in Europe over negotiations to liberalise trade with the United States. 

The project, the Trans-Atlantic Trade and Investment Partnership, or TTIP, aims to remove a wide range of barriers to bilateral commerce.

Opponents are planning demonstrations and protests across Europe today October 11, with large numbers of events in Germany, France, Spain and Italy,

In Britain, events are planned in at least 15 cities and towns.

One campaigner involved in planning the day of action said she expected at least 400 local actions in about 24 European countries.

The EU and the US launched the negotiations last year and the aim is to stimulate more trade and investment, and, in the process, to produce more economic growth and employment.

One aim of the negotiations is to reduce the costs to business of complying with regulations. A firm in, say Europe, that wants to export to the US often has to comply with two sets of rules.

Critics say the result of this would be lower standards of protection for workers, consumers and the environment. Food safety is a particular concern among European opponents of the negotiations.

In the EU, campaigners say that consumers could be faced with more genetically modified food, hormone treated beef and chicken meat that has been rinsed with chlorine.

Another major concern is the provisions under discussion to enable foreign investors - for example American firms investing in the EU - to sue a host government in some circumstances if they are hit by a change in policy.

That turned out to be so controversial that the European Commission decided to hold a public consultation. There were 150,000 responses which the Commission is still analyzing.

The conduct of the negotiations is also contentious. Campaigners say they are secretive and undemocratic. They also dispute TTIP advocates' claims about the economic benefits.

Overall these negotiations have proven to be extremely controversia and should not be allowed to be shoved down the throats of European Citizens.

Read more: BBC News - Concerns rise over US-EU trade talks