Watch Yellen and Powell testify live before House panel on Covid aid

UK records 112 new Covid deaths on anniversary of first lockdown



Texans QB Deshaun Watson hit with 14th lawsuit alleging sexual misconduct

A 14th woman has come forward with allegations of sexual misconduct against Houston Texans quarterback Deshaun Watson, according to a civil lawsuit filed Monday night.

The woman, an unnamed massage therapist in California, alleges that Watson exposed himself to her and touched her with his genitals during a massage session at a house in Beverly Hills, California on July 15. She also claims that Watson told her afterward: "I will not have you sign a (non-disclosure agreement) but don't ever talk about this."

The woman's claims echo those made by more than a dozen other women who have filed lawsuits against Watson in Harris County District Court over the past week.

Watson, 25, broadly denied wrongdoing in a statement released last week, before the first lawsuit was publicly available. His attorney, Rusty Hardin, has since described the women's claims as "meritless" and indicated that they would respond to the lawsuits in greater depth at some point this week.

Options traders bet on a washout when GameStop reports earnings

A new twist in the tale of the Reddit rebellion could happen as soon as Tuesday afternoon when GameStop, is scheduled to report earnings.

The stock, which has been on a stomach-churning roller-coaster ride throughout 2021, is still up nearly 1,000% this year, but options traders are betting that those gains are not long for this world.

That wouldn't necessarily be a shock, either. Over the last eight quarters, GameStop has dropped an average of 13.7% after an earnings report. This time, though, the stakes are much higher.

"The options market is implying a move of about 30% higher or lower, that's a $4 billion market cap swing. The most active put options were the [March 26] weekly 100-strike puts. Over 5,000 of those were trading for about $2.30," Optimize Advisors CIO Michael Khouw said Monday on CNBC's "Fast Money."

"It's only about a 5% chance, but it does look like some options traders are betting there's a chance that the bottom could fall out. That would represent about a 50% decline after they report."

Essentially, buyers of these puts are betting that a stock that closed Monday's session around $194.50 could fall beneath $97.70 by Friday's close, and are likely targeting a move even lower for increased profitability of these options contracts.

GameStop was about 5% lower in Tuesday's session.

Disclaimer

Trump Encourages Americans To Get Covid-19 Vaccine

Former President Donald Trump has called upon his Republican supporters to get vaccinated against Covid-19.

In a TV interview, Trump said the vaccines currently being administered in the United States are “safe” and “something that works.”

“I would recommend it to a lot of people that don’t want to get it and a lot of those people voted for me, frankly,” he said during an interview on Fox News Primetime on Tuesday.

“It’s a great vaccine, it’s a safe vaccine and it’s something that works,” Trump added.

The party-line approach to the anti-covid vaccine is in sharp contrast in the U.S.

While 92 percent of Democrats either have received a vaccination or are willing to get vaccinated, only 50 percent of Republicans have positively responded to a vaccination, according to a CNN poll.

Many of Trump’s conservative supporters are opposed to the vaccine program, but he and his wife Melania were vaccinated a few days before leaving the White House.

Herald morning quiz: March 24

Test your brains with the Herald’s morning quiz. Be sure to check back on nzherald.co.nz at 3pm for the afternoon quiz.

To challenge yourself with more quizzes, CLICK HERE.

Watch Yellen and Powell testify live before House panel on Covid aid

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Federal Reserve Chairman Jerome Powell and Treasury Secretary Janet Yellen appear Tuesday before the House Financial Services Committee as part of a mandated update on the Coronavirus Aid, Relief and Economic Security Act.

The hearing focuses on how CARES money has been allocated and the economic progress made under the program.

Fed officials last week raised their forecast for 2022 gross domestic product growth to 6.5%, which would be the fastest annual pace since 1984. Nevertheless, Powell said in remarks prepared for Tuesday's hearing that while the economy is "much improved" since the Covid-19 pandemic began, "the recovery is far from complete."

Yellen also issued hopeful yet cautious notes, saying she sees the economy reaching full employment again next year while stressing that "we should be clear-eyed" about how much work is left to do.

Read more:
Powell says the Fed is committed to using all its tools to promote recovery
The Fed can fight inflation, but it may come at the cost of future growth
Fed sees stronger economy and higher inflation, but no rate hikes

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