In other news, global cases of the coronavirus crossed the 100,000 mark today. Oil stocks fell the most since the Great Recession today after OPEC decided not to cut output.
Meanwhile, bond traders now believe the Fed will cut interest rates by as much as 0.75 percent next week which would drop rates to nearly zero or just 0.25 percent.
Finally, the Trump campaign has filed yet another lawsuit against CNN following similar lawsuits against the New York Times and Washington Post. They're accusing each publication of "libel" for publishing opinion pieces.
The lawsuit, filed in U.S. District Court for the Northern District of Georgia, cited a June opinion article written by Larry Noble, a former Federal Election Commission general counsel.
Noble argued in the article that former special counsel Robert Mueller should have charged the president for soliciting help from Russia in his 2016 campaign. Noble also wrote that the campaign “assessed the potential risks and benefits of again seeking Russia’s help in 2020 and has decided to leave that option on the table.”
In a statement announcing the suit, Trump campaign senior legal advisor Jenna Ellis called that claim “100 percent false and defamatory.”
None of these lawsuits will ever go through an actual trial. That's not the point. This is all a campaign stunt trying to blunt Trump's record heading into the election. That's why it was filed by Trump's campaign and not Trump himself. There's no legal standing here.
Have a good weekend.