Us Republican Senator Josh Hawley said on Wednesday that he would oppose certifying Joe Biden’s electoral college vote at a Meeting of Congress on January 6.
“Without raising the fact that some states, especially Pennsylvania, have not complied with their own state election laws, I will not be able to vote to confirm the electoral College results on January 6,” Holly said in a statement. I have to point out in my vote that big companies, including Facebook and Twitter, intervened in the election in an unprecedented way to support Joe Biden.”
About a dozen Trump House supporters, led by Representative Mo Brooks of Alabama, said they would challenge the electoral rolls of the six swing states that Biden narrowly defeated Trump in elections last month. But both houses of Congress need a challenge from at least one senator to debate the opposition. Opposition to any state by senators and representatives can lead to two hours of debate in both houses of Congress. If Trump supporters oppose more than one state, the process could drag on for hours.
On the U.S. -European front, U.S. trade officials said Wednesday they would raise tariffs on some EU products, including plane-related parts and wine from France and Germany. The civil aircraft dispute between the United States and the European Union continues.
The duties will be imposed on aircraft manufacturing components from France and Germany, certain non-sparkling wines and dry white and other cognac products, uSTC said in a statement.
The USTR did not say when the tariffs would take effect, but noted that more details would be released “shortly.”
The dollar index hit its lowest level since April 2018 following McConnell’s decision to delay a vote to increase coronavirus relief checks from $600 to $2,000.
The dollar index.DXY fell 0.46 percent to close at 89.60, after hitting a intraday high of 90.03 and a low of 89.56.
Gold rose for a second day as the dollar continued to fall to its lowest level in more than two years. The dollar index fell to its lowest level since April 2018, with liquidity running thin as traders wound down their currency positions at the end of the year. The weaker dollar boosted demand for gold as an alternative asset.
Gold is seen rising for a fifth week in a row, driven not only by Asian bets on a weaker dollar but also by fears about the economic impact of the pandemic, which has spurred safe-haven buying. Political turmoil in the United States also gave gold a boost.
“Continued dollar weakness helped gold stabilize gains on Wednesday as the bipartisan DEBATE over the BAILOUT and the Georgia Senate election kept some investors on hold,” said Tai Wong, a metals derivatives trader at BMO Capital Markets in Toronto.
Stocks edged higher on Wednesday amid renewed optimism as traders looked for signs of more fiscal stimulus.
The Dow Jones Industrial Average rose 73.89 points, or 0.2%, to 30,409.56, struggling to make a new closing high. The STANDARD & Poor’s 500 index rose 0.1% to 3,732.04, while the Nasdaq Composite index rose 0.2% to 12,870.
The Dow and the S&P 500 have posted gains in four of the past five sessions.
Megan Horneman, head of investment strategy at Verdance Capital Advisors, said: “While we are pleased with the stimulus measures so far, we may need more as an increase in COVID-19 cases could lead to more closures after the holidays. If so, economic data are starting to disappoint and we could see companies benefiting from home orders do well again in 2021.”