stock market has surged to record heights. Hopes for such cuts, which can relax the pressure on the economy and goose investment prices, have been a major reason the U.S. That in turn could mean a longer wait for the Federal Reserve to begin cutting interest rates. While the strength is a boon for workers and keeps the risk of a recession at bay, the worry is that it could preserve some upward pressure on inflation. employers hired many more workers last month than economists expected. Stocks felt pressure from much higher yields in the bond market after a report showed U.S. And the Russell 2000 index of smaller stocks fell 0.6%. The Big Tech stocks, which are two of Wall Street’s most influential, also vaulted the Nasdaq composite up by 1.7%.īut the Dow Jones Industrial Average, which has less of an emphasis on tech, rose by a more modest 0.3%, or 134 points. It’s in a torrid run where it’s climbed in 13 of the last 14 weeks. Maura Healey’s signature soon after.ĭue to an editing error, this story has been corrected to reflect the grandfather clause was adopted by the senators.TOKYO – Big Tech stocks once again carried Wall Street to a record Friday, even though the majority of stocks fell amid worries about the downside of a hot economy.īig gains for Meta Platforms and Amazon helped drive the S&P 500 index up by 1.1% to its latest all-time high. Senate President Karen Spilka said Wednesday she expects the bill to leave joint committee this session and see Gov. This comes just months after the state House passed its own version of the bill, which tackles many of the same issues but takes nearly four times as many pages of legislation to do it, setting up a showdown between the two branches. Included in the Senate’s version of the bill is a “grandfather clause” demanded by advocates, who say the state’s attempt to update its long list of banned weapons to include any weapon with a certain set of features could turn currently law abiding gun owners into felons overnight. Weapons with more than two modern features - like a collapsible stock and a forward hand grip, or silencer threading and a heat shielded barrel - would be “assault weapons” according to the Senate bill. The bill greatly expands upon the state’s long list of banned “assault weapons” by defining such a weapon by its features instead of its brand. State law currently does not include a specific charge for shooting at a house or business unless an injury occurs. The bill would make it a crime to shoot a firearm at a dwelling or other occupied building. As the law currently stands, only police and family can request such an order and only if the distressed person is a lawful gun owner. It would expand on the state’s red flags laws to allow medical providers to request an “extreme risk protection order” when they are concerned about a patient’s access to firearms. In response to requests from leaders in the law enforcement community, the Senate’s gun reforms would tackle modern age firearms technologies like ghost guns and so-called Glock switches - or auto sears. “It is important that while we seek to advance the goal of public safety that we also respect the provisions of the Second Amendment and the rights and protections that it affords,” the Republican said. Tarr went on to question whether lawmakers had fully contemplated the impacts changing the law will have on the constitutional rights of Bay State gun owners, all of whom, he noted, are protected by the Bill of Rights. He suggested the bill might best be seen by the Joint Committee on Public Safety and Homeland Security but was overridden by 31 of his 39 colleagues. Senate Minority Leader Bruce Tarr opened discussion of the bill by pointing out that it hadn’t been heard by a committee or given a public hearing. The upper chamber passed their omnibus piece of gun legislation on Thursday night after dispensing with 79 proposed amendments. The chances of Massachusetts updating its already strict gun laws to reflect concerns over emerging firearms technologies went up significantly when the state Senate approved its version of a controversial gun control proposal over the objections of Second Amendment advocates.
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