Movers & Shakers: Aug. 21, 2019

MarketsFOXBusiness

Democrats are 'praying' for a recession: Rep. Scott Perry

Rep. Scott Perry (R-Pa.) says Washington has a spending problem and that Democrats are praying for a recession.

The U.S. consumer is strong and investors like it. Target and Lowe's both reporting better-than-expected results which is helping lift the broader stock market, one day after snapping a three-day winning streak. Retail earnings keep coming after the closing bell, with Nordstrom and Victoria's Secret-parent L Brands set to report their quarterly results. Investors will also get the Fed's minutes at 2 PM ET.

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Trump eyes a tax cut, slams Denmark: President Trump on Tuesday said his administration was looking into the possibility of a temporary payroll tax cut or indexing capital gains to inflation in an effort to jumpstart a slowing U.S. economy. Hours later, the president postponed his meeting with Denmark Prime Minister Mette Frederiksen for her refusal to discuss selling Greenland to the United States.

Boeing beefs up staff ahead of the 737 Max's relaunch. The aircraft manufacturer announced Tuesday it will hire hundreds of temporary workers as it readies to relaunch the 737 Max Jet.  Workers will be given temporary housing and meal allowances, according to the Seattle Times.

Jeffrey Epstein's accusers face new challenges: Most of the lawsuits against Epstein's nearly $600 million estate will likely have to be refiled because they don't name the executors of his will, a post-mortem requirement, according to the New York Post. Additionally, Epstein's will was filed in the Virgin Islands, meaning his accusers will likely need to hire an attorney licensed there if they hope to receive any monetary compensation.

The XFL's big reveal: Vince McMahon's XFL will reveal its team names and logos Wednesday during a 12:30 PM ET press conference. The league, which aims to rival the NFL, announced last week that former Pittsburgh Steelers quarterback Landry Jones has signed on as its first player. The league is set to kick off in February.

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