Here are the latest readings of the major market indexes:

New York Stock Exchange 12392.34 down 140.95

NYSE MKT Composite Index 2057.11 down 16.35

NASDAQ: Composite 10657.27 up 69.46

Standard and Poors 500 3245.46 down 0.76

By JOSEPH PISANI AP Retail Writer
NEW YORK (AP) — Amazon is one step closer to space. The online shopping giant received government approval to put more than 3,200 satellites into orbit that would beam down internet service to earth. Amazon said the satellites could provide internet to parts of the world that don’t have it. It could also become a new business for Amazon, selling internet service to people or companies who want it. Amazon said it will spend $10 billion on the initiative, called Project Kuiper. It’s opening a research facility in Redmond, Washington, where the satellites will be designed and tested.

By CHRISTOPHER RUGABER AP Economics Writer
WASHINGTON (AP) — Wages and benefits for U.S. workers rose at the slowest pace in three years in the April-June quarter, a sign that businesses are holding back on pay as well as cutting jobs in the coronavirus recession. Pay and benefits increased 0.5% in the second quarter, down from 0.8% in the first three months of the year. Wages and salaries rose just 0.4%, while benefits jumped 0.8%.

 

Big Tech surge props up Wall Street, though caution reigns
By STAN CHOE AP Business Writer
NEW YORK (AP) — Strong gains for Big Tech stocks are helping to prop up Wall Street in early Friday trading following blowout profit reports from some of the market’s most influential companies. The S&P 500 was 0.1% higher, on track to close out its fourth straight winning month. Despite the steadiness, caution was still clearly present across markets as the pandemic continues to cloud the economy’s prospects. The 10-year Treasury yield hovered close to its lowest level since it dropped to a record low in March. Gold also briefly rose above $2,000 per ounce, while nearly three out of four stocks in the S&P 500 were lower.

‘You won’t be safe,’ Pence warns in Pennsylvania campaign
By MARC LEVY Associated Press
Vowing to bring “peace and security to cities across America,” Vice President Mike Pence carried the Trump campaign’s message of law and order to exurban Pennsylvania. At a “cops for Trump” rally Thursday outside in Greensburg, Pence warned of rising violence in cities, castigated Democrats’ calls to defund police and framed November’s election as being about safety and security. Pence told the crowd in southwestern Pennsylvania, about 24 miles (15 km) southeast of Pittsburgh, that “you won’t be safe in Joe Biden’s America.” Democrats responding to Pence’s visit to Pennsylvania focused on what they called the Trump administration’s botched coronavirus response and lack of leadership.

SENATORS COLLETT, KEARNEY, MUTH, L. WILLIAMS ANNOUNCE BILL TO SUSPEND PER DIEM PAY FOR LEGISLATORS DURING COVID-19 PANDEMIC

Harrisburg, Pa. – July 30, 2020 — Senators Maria Collett (D-12 Montgomery/Bucks), Tim Kearney (D-26 Delaware/Chester), Katie Muth (D-44 Berks/Chester/Montgomery) and Lindsey M. Williams (D-38 Allegheny County) have introduced a bill memo for co-sponsorship to suspend per diem payments to members of the General Assembly through the duration of the COVID-19 emergency declaration.

Throughout the pandemic, Pennsylvanians have been asked to sacrifice for the sake of public health – so too should members of our legislature. Per diem payments are daily allowances intended to cover travel, lodging, meals and other expenses for Pennsylvania legislators when traveling to Harrisburg on session days or outside of their district on legislative business. Legislators can opt in or out of per diem payments. A temporary, unanimously passed rule change allows senators to participate in session remotely, eliminating the need to travel to Harrisburg and receive per diem for related expenses. 

“As public servants, we have no higher duty than to stand with and support our constituents through challenging circumstances,” said Senator Collett. “This small sacrifice will ensure that legislators aren’t collecting money that may go to better use, and working remotely – something so many Pennsylvanians are being asked to do – will help keep legislators, their staff, and their communities safe from potential COVID-19 exposure.”

“At a time when more than one million Pennsylvanians are unemployed, state lawmakers should be setting an example by suspending per diems,” said Senator Kearney. “All of us have been asked to make sacrifices during this pandemic, and the General Assembly should be no different. This is the least we can do while we work towards a just economic recovery that helps all Pennsylvanians.”

“This is the very least public officials, who have had a paycheck the entire pandemic, can do,” said Senator Muth. “Pennsylvania taxpayers continue to pay per diem for legislators who travel to Harrisburg at a time when we should not be traveling. If a legislator chooses to go to Harrisburg, they should be responsible for the costs as a virtual option is available. So many are unemployed, due to the pandemic, and lining the pockets of salaried legislators should not be an option.”

“The Senate has unanimously adopted rules allowing all Members to fully participate remotely in all aspects of Session, committee meetings, and policy hearings during the COVID-19 pandemic,” said Senator Williams. “Suspending these payments would not impact Members’ ability to fully represent their constituents in Harrisburg. I personally opted not to take a per diem because I believe that all spending of taxpayer dollars should be fully transparent, but this is even more important during an emergency when so many other Pennsylvanians are being asked to make sacrifices.”

Participating members of the General Assembly are paid $178 per day on per diem, and suspending these payments would free up hundreds of thousands of dollars in taxpayer money during an unprecedented public health and economic crisis. This legislation would prohibit per diem payments until the Governor’s Disaster Declaration related to COVID-19 has ended. 

It should be noted that none of the prime sponsors of this bill receive a per diem.

At Lewis funeral, Obama calls for renewing Voting Rights Act
By BILL BARROW Associated Press
ATLANTA (AP) — Former President Barack Obama has used Rep. John Lewis’ funeral to issue a stark warning that the voting rights and equal opportunity the late civil rights icon championed are under increasing threat heading into the 2020 election. Obama urged Congress on Thursday to honor Lewis by revitalizing the Voting Rights Act, “the law he was willing to die for.” Obama called the Senate filibuster a relic of Jim Crow segregation and said it should be abolished if that’s what it takes to pass such a law. The Democratic-led House has adopted a sweeping rewrite of the Voting Rights Act, but it faces opposition in the Republican-led Senate.