President Trump reviews a guard of honour during a ceremonial reception at Rashtrapati Bhavan palace in New Delhi on Tuesday. Photo: Mandel Ngan/AFP via Getty Images
President Trump's second and final day of his India visit struck a more formal tone than the pageantry of a day earlier that included a trip to the Taj Mahal and a mega-rally in his honor. But he took time out Tuesday to pay tribute to Indian independence icon Mahatma Gandhi at a memorial in New Delhi.
Why it matters: The countries are forging deeper ties as India’s location, size and economic growth make it the "obvious counterweight to China" for American policymakers.
Trump told the rally crowd in Ahmedabad he hoped to reach a trade deal with his "true friend" Prime Minister Narendra Modi on his first official visit to the country, and he was taking part in formal meetings with officials on Tuesday.
Of concern: There were deadly clashes in another part of Delhi over India's controversial citizenship law hours hours as Trump and members of his first family visited the city.
Wells Fargo swung to its first loss since the financial crisis — while JPMorgan Chase and Citigroup reported significantly lower profits from a year earlier — as the banks set aside billions of dollars more in the second quarterfor loans that may go bad.
Why it matters: The cumulative $28 billion in loan loss provisions that banks have so far announced they’re reserving serves as a signal they’re preparing for a colossal wave of loan defaults as the economy slogs through a coronavirus-driven downturn.
Healthy volunteers who took Moderna's coronavirus vaccine candidate appeared to generate an immune system response to the virus, and there were "no trial-limiting safety concerns," according to a new study published in the New England Journal of Medicine.
Why it matters: The phase one trial is still small and does not definitively determine how effective the vaccine is. But Anthony Fauci of the National Institutes of Health, which is running the trial, told the Wall Street Journal that these data make it "pretty clear that this vaccine is capable of inducing quite good [levels] of neutralizing antibodies."