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Stocks went into reverse just before lunchtime on Wall Street Monday. But nobody could figure out why.There weren't any major earnings or economic reports that came out. Yes, there was a big drop in construction spending for December. But it was largely expected. And it was an "old" report whose release was delayed by the government shutdown.Still, the Dow, which was up as much as 130 points shortly after the market opened, was down 400 points by mid-afternoon before cutting those losses nearly in half. The Dow finished the day with a 207-point drop.Boeing, the biggest component of the Dow and the best stock in the blue chip average so far this year, was one of the worst performers, falling nearly 2%. UnitedHealth, McDonald's, Walgreens, Verizon and Nike were among the biggest drags on the Dow too.Paul Nolte, a portfolio manager with Kingsview Asset Management, told CNN Business that he thinks investors are growing tired of talk about an imminent agreement on a trade deal between the United States and China and want more specifics."This is, what the 38th time, that we are 'close' to a trade deal?" Nolte quipped. "You can only cry wolf so many times. We need something more tangible than we're close."Mike O'Rourke, chief market strategist with JonesTrading, told CNN Business he agreed. He said investors may simply be looking for an excuse to sell considering that the Dow, S&P 500 and Nasdaq are all sporting double-digit percentage gains this year."We've gone up sharply on the potential for a deal. But now that the finish line is in sight people are selling the news," O'Rourke said, adding that a pullback is healthy since the"behavior of the past couple of months was atypical."Market slide is much ado about nothingBut Steve Chiavarone, global allocation portfolio manager and equity strategist with Federated Investors, said the sharp pullback Monday is puzzling because most of the economic headlines are still good. He said Monday's sell-off was merely "noise."He pointed out that bond yields have pulled back now that it looks like the Federal Reserve is not going to raise rates again this year. Earnings for the fourth quarter were mostly solid. And if the trade war does end, then the profit picture could improve further.What's more, economists are expecting another solid month of jobs growth when the employment report for February is released Friday.Others argued that investors are just growing nervous for technical reasons, namely that some of the major market indexes have recently topped round number milestones, such as the Dow crossing 26,000 and the S&P 500 passing 2,800."We've tested some of those October and November highs," said William Delwiche, investment strategist with Baird. "It's purely technical and that's probably why we started to see a little loss of momentum."But William Lynch, director of investments at Hinsdale Associates, summed up the mystifying midday move down best."I have no idea why stocks fell. I don't have a clue. I'm as perplexed as you are," he said.Sometimes stocks just go down, especially after they've enjoyed a strong run. It's as simple as that.The-CNN-Wire? & ? 2019 Cable News Network, Inc., a Time Warner Company. All rights reserved. 3246
Rescuers pulled people to safety and ferried them through fast-moving floodwaters in middle Oklahoma on Tuesday morning after severe storms swamped the area — and more severe weather will threaten a large portion of the central US as the day goes on.Floodwater closed parts of Interstate 40 in Oklahoma's Canadian County, just west of Oklahoma City, after storms hit late Monday and early Tuesday.In that county, high water was lapping up against homes in a rural area near the community of El Reno on Tuesday morning, and fire departments' swift water rescue teams were using boats to take residents to drier land.Also in the area, video from 656
President Donald Trump's re-election campaign raised more than million in the first fundraising quarter of 2019 -- an amount that rivals the combined fundraising haul of the top two Democrats in the first quarter and underscores his enormous financial head start over the crowded field of Democrats jockeying to face him in 2020.Trump's re-election effort now has a substantial .8 million remaining in the bank, Tim Murtaugh, the campaign's director of communications, told CNN on Sunday. While Trump builds a massive war chest, 18 Democrats -- with more considering bids -- are competing for their party's nomination.Vermont Sen. Bernie Sanders leads Democratic fundraising with .2 million raised during a shorter window than Trump, 41 days. In the No. 2 fundraising slot: California Sen. Kamala Harris with million.Sanders, making his second bid for the presidency, has the biggest war chest of the Democratic field, ending March with million remaining in the bank.Trump's "strategy is to raise as much money as possible and to control the national conversation," said Nathan Gonzales, editor of the nonpartisan political analysis site, Inside Elections.But Gonzales and Democratic strategists say the total fundraising picture for Democrats shows the party's donors remain energized and will plow big sums into the general-election battle."I don't think this presidential race is going to be decided by money," Gonzales said. "The president's going to have plenty of money, and the Democratic nominee will have plenty of money."The 10 Democrats who have announced first-quarter fundraising numbers so far have collected a combined .6 million -- already surpassing the .6 million the entire Democratic presidential field had collected during the early months of the 2016 election cycle.Even more Democratic totals will come Monday when candidates file reports with the Federal Election Commission.Another sign of Democratic donor enthusiasm: South Bend, Indiana, Mayor Pete Buttigieg, who exceeded expectations with a million first-quarter haul for his exploratory committee, raised million within hours of formally launching his presidential campaign on Sunday, his spokeswoman Lis Smith announced on Twitter"The momentum is clearly on the left," said Jon Soltz, president of VoteVets, a progressive group. "Democratic money will consolidate" behind the party's nominee in 2020.Trump, who built his unorthodox 2016 campaign on online, small-dollar donors, never stopped running for office. He filed his paperwork for re-election on the day he took the oath of office in January 2017.He continues to tap grassroots donors for support. His campaign said that nearly 99% of donations were 0 or less, with an average contribution of .26.Trump's first-quarter haul exceeds the million his campaign and affiliated committees brought in during the last three months of 2018. But it does not set records for a presidential fundraising quarter.President Barack Obama, who did not begin collecting money in earnest for his reelection until April 2011, raised nearly million during the first three months of actively campaigning for a second term. 3195
PSAThe new decade starts 2021, not 2020. pic.twitter.com/Y4CFCGfjeA— Finn, bringer of Love ???? (@TraaaashPanda) December 19, 2019 142
Sheesh man, thank you for a great year last year my guy and helping me take my game further by practicing against you day in and day out! I wish you nothing but the best my guy! ??? Out Andrewski!!! It was terrible how the fans booed a man who gave them so much??Much respect12 pic.twitter.com/9mQls9u24t— Darius Leonard (@dsleon45) August 25, 2019 360