Saudi Arabia offers cease-fire plan to Yemen rebels
DUBAI, United Arab Emirates — Saudi Arabia on Monday offered a cease-fire proposal to Yemen’s Houthi rebels that includes reopening their country’s main airport, the kingdom’s latest attempt to halt years of fighting in a war that has sparked the world’s worst humanitarian crisis.
The move comes after the rebels stepped up a campaign of drone and missile attacks on the kingdom’s oil sites, briefly shaking global energy prices amid the coronavirus pandemic. It also comes as Riyadh tries to rehabilitate its image with the U.S. under President Joe Biden. Saudi Arabia has drawn internationally criticism for airstrikes killing civilians and embargoes exacerbating hunger in a nation on the brink of famine.
Whether the plan will take hold remains another question. A unilaterally declared Saudi cease-fire collapsed last year. Fighting rages around the crucial city of Marib and the Saudi-led coalition launched airstrikes as recently as Sunday targeting Yemen’s capital of Sanaa. A U.N. mission said another suspected airstrike hit a food-production company in the port city of Hodeida.
“We want the guns to fall completely silent,” Saudi Foreign Minister Prince Faisal bin Farhan told journalists at a televised news conference in Riyadh. “It is up to the Houthis now. We are ready to go today. We hope we can have a cease-fire immediately, but the onus is on the Houthis.”
A senior Houthi official, who spoke with The Associated Press on condition of anonymity in line with regulations, said the rebels had been aware of the proposal and in direct communication with the Saudis, as well as interlocutors from Oman. However, he said the Saudis needed to do more to see a cease-fire implemented, something reiterated by others in the Iranian-backed rebel group.
Trump endorses challenger against Georgia elections chief
ATLANTA — Former President Donald Trump on Monday endorsed a conservative Georgia congressman in his bid to unseat the Republican secretary of state who refused to help overturn the November election results.
Rep. Jody Hice, a tea party favorite and Trump acolyte, is the first major challenger to Brad Raffensperger since the secretary of state certified President Joe Biden’s narrow victory in Georgia and disputed Trump’s false allegations of fraud.
Trump’s endorsement marks his most direct attempt at retribution against those he blames for his loss and reaffirms his continued influence over the Republican Party.
“Jody has been a steadfast fighter for conservative Georgia values and is a staunch ally of the America First agenda,” Trump said in a statement that repeated the unsupported allegations of fraud. “Unlike the current Georgia Secretary of State, Jody leads out front with integrity. I have 100% confidence in Jody to fight for Free, Fair, and Secure Elections in Georgia, in line with our beloved U.S. Constitution.”
In a statement, Raffensperger criticized Hice for supporting Trump’s false fraud claims and likened him to former GOP Sens. David Perdue and Kelly Loeffler, who lost twin Senate runoffs in January after supporting Trump’s bid to subvert the election results.
“Few have done more to cynically undermine faith in our election system than Jody Hice,” Raffensperger said. “We saw in January what Georgia voters will do to candidates who use that rhetoric.”
Overstimulated? Stocks soar 75% in historic 12-month run
NEW YORK — It was one year ago that the terrifying free fall for the stock market suddenly ended, ushering in one of its greatest runs.
On March 23, 2020, the S&P 500 fell 2.9%. In all, the index dropped nearly 34% in about a month, wiping out three years’ worth of gains for the market.
That turned out to be the bottom, even though the coronavirus pandemic worsened in the ensuing months and the economy sank deeper into recession. Massive amounts of support for the economy from the Federal Reserve and Congress limited how far stocks would fall. The market recovered all its losses by August.
As time passed, the quick development of coronavirus vaccines helped stocks shoot even higher. So did growing legions of first-time investors, who suddenly had plenty of time to get into the market using free trading apps on their phones.
It all led to a )76.1% surge for the S&P 500 and a shocking return to record heights. This run looks to be one of, if not the, best 365-day stretches for the S&P 500 since before World War II. Based on month-end figures, the last time the S&P 500 rose this much in a 12-month stretch was in 1936, according to Howard Silverblatt, senior index analyst at S&P Dow Jones Indices.