'Stocks Rise After Trump Reaffirms China Trade Deal: Live Updates' diff viewer (5/6)

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~~Stock Markets Rise After Trump Reaffirms China Trade Deal: Live Updates~~	Stocks Rise After Trump Reaffirms China Trade Deal: Live Updates
2020-06-23 13:52:21 UTC	2020-06-23 14:24:23 UTC (32 minutes later)
President Trump on Monday suspended new work visas through at least the end of the year. The sweeping order denies employment permits for hundreds of thousands of skilled foreign workers, like programmers. Seasonal hospitality workers and work-study students are also affected.	President Trump on Monday suspended new work visas through at least the end of the year. The sweeping order denies employment permits for hundreds of thousands of skilled foreign workers, like programmers. Seasonal hospitality workers and work-study students are also affected.
The president cited the pandemic, saying that the visa programs “pose an unusual threat to the employment of American workers.”	The president cited the pandemic, saying that the visa programs “pose an unusual threat to the employment of American workers.”
The business world reacted with anger. “Putting up a ‘not welcome’ sign for engineers, executives, IT experts, doctors, nurses and other workers won’t help our country, it will hold us back,” said Thomas Donohue of the U.S. Chamber of Commerce.	The business world reacted with anger. “Putting up a ‘not welcome’ sign for engineers, executives, IT experts, doctors, nurses and other workers won’t help our country, it will hold us back,” said Thomas Donohue of the U.S. Chamber of Commerce.
Technology firms, which account for the bulk of H-1B visas, were particularly aghast. “This is a full-frontal attack on American innovation and our nation’s ability to benefit from attracting talent from around the world,” said Todd Schulte of FWD.us, a pro-immigration advocacy group for big tech companies.	Technology firms, which account for the bulk of H-1B visas, were particularly aghast. “This is a full-frontal attack on American innovation and our nation’s ability to benefit from attracting talent from around the world,” said Todd Schulte of FWD.us, a pro-immigration advocacy group for big tech companies.
Google’s chief executive, Sundar Pichai, was “disappointed” by the decision:	Google’s chief executive, Sundar Pichai, was “disappointed” by the decision:
In a statement, Amazon said that “preventing high skilled professionals from entering the country and contributing to America’s economic recovery puts American’s global competitiveness at risk.”	In a statement, Amazon said that “preventing high skilled professionals from entering the country and contributing to America’s economic recovery puts American’s global competitiveness at risk.”
Facebook said “highly-skilled visa holders play a critical role in driving innovation — at Facebook and at organizations across the country — and that’s something we should encourage, not restrict.”	Facebook said “highly-skilled visa holders play a critical role in driving innovation — at Facebook and at organizations across the country — and that’s something we should encourage, not restrict.”
The chairman of Twitter, Patrick Pichette (who is Canadian), suggested an alternative: “A message to all you H-1B seekers; just look to the North, where we welcome you (and your family) with open arms.”	The chairman of Twitter, Patrick Pichette (who is Canadian), suggested an alternative: “A message to all you H-1B seekers; just look to the North, where we welcome you (and your family) with open arms.”
According to government data, the suspended visa categories accounted for about 600,000 workers in 2019.	According to government data, the suspended visa categories accounted for about 600,000 workers in 2019.
A skilled-worker visa, the H-1B is used by U.S. employers to fill roles in tech, finance, accounting and other specialized fields. New H-1B visas are capped at 85,000 a year, and about three-quarters are used by technology companies. There were 189,847 workers on H-1Bs in 2019.	A skilled-worker visa, the H-1B is used by U.S. employers to fill roles in tech, finance, accounting and other specialized fields. New H-1B visas are capped at 85,000 a year, and about three-quarters are used by technology companies. There were 189,847 workers on H-1Bs in 2019.
The H-2B visa is used by U.S. employers for temporary nonagricultural jobs, such as cooks, landscapers and groundskeeping staff, cleaners and forestry and conservation workers. There were 97,623 workers on such visas last year. Officials said there would be exemptions for food processing workers under President Trump’s executive order.	The H-2B visa is used by U.S. employers for temporary nonagricultural jobs, such as cooks, landscapers and groundskeeping staff, cleaners and forestry and conservation workers. There were 97,623 workers on such visas last year. Officials said there would be exemptions for food processing workers under President Trump’s executive order.
The H-4 allows spouses and families of H-1B and H-2B visa holders to live in the United States.	The H-4 allows spouses and families of H-1B and H-2B visa holders to live in the United States.
The J visa category is for exchange program applicants coming to the United States to study or work, including au pairs, interns, camp counselors and researchers. There were an estimated 230,000 people on J visas in 2019. Two administration officials suggested that parents could seek waivers to the ban on au pairs.	The J visa category is for exchange program applicants coming to the United States to study or work, including au pairs, interns, camp counselors and researchers. There were an estimated 230,000 people on J visas in 2019. Two administration officials suggested that parents could seek waivers to the ban on au pairs.
The L visa is for international companies who want to transfer managers or executives to U.S. branches for monthslong or yearslong stings. There were 76,988 such visas in 2019.	The L visa is for international companies who want to transfer managers or executives to U.S. branches for monthslong or yearslong stings. There were 76,988 such visas in 2019.
Monday’s order also extends a 60-day prohibition on the issuance of green cards to most foreigners looking to live in the United States that the president ordered in April.	Monday’s order also extends a 60-day prohibition on the issuance of green cards to most foreigners looking to live in the United States that the president ordered in April.
Administration officials said the president’s order would not affect people outside the United States who already have valid visas or seasonal farm workers, whose annual numbers have ranged from a low of about 50,000 to a high of about 250,000 in the past 15 years, the New York Times’s Michael D. Shear and Miriam Jordan reported. There will be a narrow exception under Mr. Trump’s ban for certain medical workers dealing with coronavirus research, officials said.	Administration officials said the president’s order would not affect people outside the United States who already have valid visas or seasonal farm workers, whose annual numbers have ranged from a low of about 50,000 to a high of about 250,000 in the past 15 years, the New York Times’s Michael D. Shear and Miriam Jordan reported. There will be a narrow exception under Mr. Trump’s ban for certain medical workers dealing with coronavirus research, officials said.
Two prominent Democrats in the Senate are questioning how meatpacking companies could justify exporting record amounts to China in April while warning of an impending shortage of pork and beef across the United States.	Two prominent Democrats in the Senate are questioning how meatpacking companies could justify exporting record amounts to China in April while warning of an impending shortage of pork and beef across the United States.
Senators Elizabeth Warren and Cory Booker sent a letter late Monday to the chief executives of Smithfield, Tyson, Cargill and JBS, criticizing their China exports at the same time they were lobbying the Trump administration to keep their plants open amid the pandemic because they wanted to keep feeding Americans.	Senators Elizabeth Warren and Cory Booker sent a letter late Monday to the chief executives of Smithfield, Tyson, Cargill and JBS, criticizing their China exports at the same time they were lobbying the Trump administration to keep their plants open amid the pandemic because they wanted to keep feeding Americans.
The senators said the companies were putting meat workers’ lives in danger, while also raising food prices for American consumers.	The senators said the companies were putting meat workers’ lives in danger, while also raising food prices for American consumers.
“This pattern of behavior raises questions about whether you are living up to your commitments to the workers who produce your pork and beef; the communities in which you operate, and the nation’s consumers that rely on your products to feed their families,’’ the senators wrote.	“This pattern of behavior raises questions about whether you are living up to your commitments to the workers who produce your pork and beef; the communities in which you operate, and the nation’s consumers that rely on your products to feed their families,’’ the senators wrote.
The letter was prompted by a report in The New York Times last week detailing how pork exports to China totaled a record 129,000 tons in April, as the American meat industry took advantage of surging and profitable demand from that Asian country.	The letter was prompted by a report in The New York Times last week detailing how pork exports to China totaled a record 129,000 tons in April, as the American meat industry took advantage of surging and profitable demand from that Asian country.
The meat companies say much of the meat had been produced weeks ahead of when it was shipped to China in April and before packing plants became hot spots for the virus. After President Trump signed an executive order in late April to keep the plants operating, some of the large meat companies say they have switched their production to better meet domestic demand.	The meat companies say much of the meat had been produced weeks ahead of when it was shipped to China in April and before packing plants became hot spots for the virus. After President Trump signed an executive order in late April to keep the plants operating, some of the large meat companies say they have switched their production to better meet domestic demand.
Stocks on Wall Street followed global markets higher on Tuesday, after President Trump reaffirmed the trade war truce between the United States and China and investors focused on new signs of economic recovery instead.	Stocks on Wall Street followed global markets higher on Tuesday, after President Trump reaffirmed the trade war truce between the United States and China and investors focused on new signs of economic recovery instead.
The S&P 500 rose nearly 1 percent, adding to a 0.7 percent climb on Monday. European markets rose more than 1 percent. Oil was up nearly 2 percent, with West Texas Intermediate, the main U.S. benchmark, trading over $41 a barrel.	The S&P 500 rose nearly 1 percent, adding to a 0.7 percent climb on Monday. European markets rose more than 1 percent. Oil was up nearly 2 percent, with West Texas Intermediate, the main U.S. benchmark, trading over $41 a barrel.
Lifting sentiment were initial surveys of corporate purchasing managers showing better-than-expected results for June in Britain and Europe. The Purchasing Managers Index released by IHS Markit rose to 47.5 in June, from May’s 31.9. Similar data on purchasing managers in the U.S. is due out later Tuesday.	Lifting sentiment were initial surveys of corporate purchasing managers showing better-than-expected results for June in Britain and Europe. The Purchasing Managers Index released by IHS Markit rose to 47.5 in June, from May’s 31.9. Similar data on purchasing managers in the U.S. is due out later Tuesday.
The trading day began on a more volatile note. On Monday evening, Peter Navarro, Mr. Trump’s trade adviser, said “it’s over” when asked in an interview on Fox News about the trade war pact that was reached between the United States and China in January. The pact had eased trade tensions between the two countries but has since become a source of investor concern. China pledged to increase purchases of American agricultural products and other goods under the pact, but its struggles with the coronavirus put those promises into doubt.	The trading day began on a more volatile note. On Monday evening, Peter Navarro, Mr. Trump’s trade adviser, said “it’s over” when asked in an interview on Fox News about the trade war pact that was reached between the United States and China in January. The pact had eased trade tensions between the two countries but has since become a source of investor concern. China pledged to increase purchases of American agricultural products and other goods under the pact, but its struggles with the coronavirus put those promises into doubt.
Later on Monday, Mr. Trump confirmed that the pact was still in force. “The China Trade Deal is fully intact,” Mr. Trump wrote on Twitter. “Hopefully they will continue to live up to the terms of the Agreement!”	Later on Monday, Mr. Trump confirmed that the pact was still in force. “The China Trade Deal is fully intact,” Mr. Trump wrote on Twitter. “Hopefully they will continue to live up to the terms of the Agreement!”
Jack Dorsey has won plaudits for his corporate activism during the coronavirus crisis, taking on President Trump in his role as Twitter’s chief executive and donating nearly a third of his total wealth to pandemic relief.	Jack Dorsey has won plaudits for his corporate activism during the coronavirus crisis, taking on President Trump in his role as Twitter’s chief executive and donating nearly a third of his total wealth to pandemic relief.
But at Square, a payments business where Mr. Dorsey is also chief executive, he is facing a growing chorus of unhappy customers.	But at Square, a payments business where Mr. Dorsey is also chief executive, he is facing a growing chorus of unhappy customers.
Thousands of small enterprises that use Square to process credit card transactions — including plumbers, legal consultants and construction firms — have complained that the company recently began holding back 20 to 30 percent of the money collected from customers. The withholdings came with little warning, they said, and Square asserted the right to hang on to the money for the next four months.	Thousands of small enterprises that use Square to process credit card transactions — including plumbers, legal consultants and construction firms — have complained that the company recently began holding back 20 to 30 percent of the money collected from customers. The withholdings came with little warning, they said, and Square asserted the right to hang on to the money for the next four months.
Square told them that it was doing this to protect against risky transactions or customers who demanded their money back. But several affected businesses provided documents to The New York Times showing they had not had any returns or risk flags.	Square told them that it was doing this to protect against risky transactions or customers who demanded their money back. But several affected businesses provided documents to The New York Times showing they had not had any returns or risk flags.
“It may not be the coronavirus that puts us out of business but actually the greed of Square that breaks the camel’s back,” said Jesse Larsen, the owner of PennyWise Contracting, a construction company in Olympia, Wash.	“It may not be the coronavirus that puts us out of business but actually the greed of Square that breaks the camel’s back,” said Jesse Larsen, the owner of PennyWise Contracting, a construction company in Olympia, Wash.
A Square spokesman said the company would publish a blog post on Tuesday to explain its new “rolling reserve” policy, the one that some merchants have experienced.	A Square spokesman said the company would publish a blog post on Tuesday to explain its new “rolling reserve” policy, the one that some merchants have experienced.
When office workers around the world went remote four months ago, many managers feared that productivity would collapse. The distractions of home — from child care to television — would wreak havoc on workdays, they thought.	When office workers around the world went remote four months ago, many managers feared that productivity would collapse. The distractions of home — from child care to television — would wreak havoc on workdays, they thought.
Some individuals have had a harder time than others working from home, but many companies say productivity has remained at pre-pandemic levels, or even increased, The Times’s David Gelles writes. Without long commutes, small talk with colleagues and leisurely coffees in the break room, many workers — especially those who don’t have to worry about child care — are getting more done.	Some individuals have had a harder time than others working from home, but many companies say productivity has remained at pre-pandemic levels, or even increased, The Times’s David Gelles writes. Without long commutes, small talk with colleagues and leisurely coffees in the break room, many workers — especially those who don’t have to worry about child care — are getting more done.
Companies are also discovering that processes and procedures they previously took for granted — from lengthy meetings to regular status updates — are less essential than once imagined. And though some executives are concerned about burnout, they are enjoying the gains for now.	Companies are also discovering that processes and procedures they previously took for granted — from lengthy meetings to regular status updates — are less essential than once imagined. And though some executives are concerned about burnout, they are enjoying the gains for now.
“We’re seeing an increase in productivity,” said Fran Katsoudas, Cisco’s chief people officer.	“We’re seeing an increase in productivity,” said Fran Katsoudas, Cisco’s chief people officer.
A Deutsche Bank survey of workers in countries hard hit by the coronavirus found that on average, those in the United States felt they were more productive than before the pandemic, whereas those in Europe felt they were less productive.	A Deutsche Bank survey of workers in countries hard hit by the coronavirus found that on average, those in the United States felt they were more productive than before the pandemic, whereas those in Europe felt they were less productive.