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The stock market is still sinking but the selling frenzy has eased just a bit.The Dow opened down about 100 points on Thursday morning, rebounding from sharp overnight losses. The Nasdaq started positive before slipping back into the red. The S&P 500 lost about 0.6%.Wall Street is attempting to recover from Wednesday's plunge, which wiped 832 points off the Dow. The Nasdaq in particular has gotten rocked in recent days. Investors have bolted from the index, which contains many tech stocks, because they are concerned about holding some of the market's riskiest stocks in a downturn. A proxy for the tech sector had its sharpest plunge in seven years on Wednesday.The S&P 500 was on pace for its sixth-straight decline, something that hasn't happened since just before President Donald Trump's election nearly two years ago. And the Nasdaq has already plunged 8% this month."Halloween started early this month for investors," Ed Yardeni, president of investment advisory firm Yardeni Research, wrote to clients.Concerns about inflation were eased a bit by a report released on Thursday that showed consumer prices rose in September less than feared.Still, tech stocks including Amazon and Apple lost ground in early trading. Square (SQ) slumped 6% after announcing the departure of its chief financial officer. But other tech stocks showed signs of life. Netflix and Twitter were trading flat to slightly higher.Stocks have turned sharply south because investors are increasingly concerned about rising interest rates. As the Federal Reserve raises rates to prevent runaway inflation, investors have been getting out of bonds, driving down their price and driving up their yields. Suddenly, the return on bonds has become competitive with some stocks — particularly risky tech stocks.Rising interest rates also increase borrowing costs for households and businesses, eating into corporate profits. America's increasing debt load, a trade war with China and a slowing global economy have also unnerved investors.Wednesday's "rout has shaken investor confidence," Nicholas Colas, co-founder of DataTrek Research, wrote to clients. "That will take time to rebuild."The Dow plunged 832 points, or 3.2%, on Wednesday. Tech stocks took a beating, sending the Nasdaq tumbling 4% — its worst day since the Brexit referendum of June 2016.That dragged down stock indexes in the United Kingdom, Germany and France on Thursday, all of which fell more than 1%. Benchmark indexes in Shanghai and Tokyo closed down 5.2% and almost 4%, respectively. Hong Kong's market was down over 3%.The S&P 500's 3% plunge on Wednesday was rare. It's only happened in 0.6% of all trading days since 1952, according to Bespoke Investment Group.The good news is that the market often springs back to life after such a deep sell-off. Bargain hunters scoop up beaten-down stocks and calmer heads prevail. On average, the S&P 500 has gained 0.4% the day after a 3% slide, Bespoke said.That's what happened in February after the S&P 500 twice suffered 3% drops caused by fears about rising bond yields. Both sell-offs were followed by rebounds of more than 1% the next day.But Yardeni is optimistic the market will rebound because corporate profits are robust and no recession is in sight."We remain bullish on the outlook for earnings, and expect the market to recover and make new highs going into next year," Yardeni wrote.The-CNN-Wire 3435
The success of a pilot test in a Nebraska county in which all people have the option to vote by mail has spurred the initiative in three more counties there.Turnout in Garden County for the May 15, 2018 primary, with an all-mail vote option, was more than 58 percent.Now, Dawes, Merrick and Morrill counties in Nebraska have been approved for all-mail voting for the election slated for next month, according to the Lincoln Journal Star.Factors that may keep people from going to physical polls include site accessibility, amount of poll workers available from three political parties and community feedback, the Associated Press reports.According to the National Conference of State Legislatures, at least 22 states have provisions allowing some elections to be done by all-mail voting. Three entire states — Colorado, Washington and Oregon — provide all-mail voting.In the 2014 election in Colorado, the vote-at-home option increased turnout by 3.3 percent, research shows. It was up among people with a history of low turnout.Vote-by-mail 1059
The United States Army has announced the Guillen family is entitled to receive a variety of Army benefits after Spc. Vanessa Guillen's death was determined to be "in the line of duty."Army officials say the Guillen family was briefed on Tuesday, October 20 on the results of the line of duty investigation into Spc. Guillen's death.The investigation concluded that her death was in the line of duty. This determination allows the Guillen family to receive Army benefits due to Spc. Guillen's service.The Army says these benefits typically include compensation to immediately help the family with expenses, a funeral with full military honors, the Servicemembers’ Group Life Insurance, and final pay and allowances.A line of duty determination is conducted for all soldier deaths.Officials say the III Corps leadership remains in contact with the Guillen family to keep them informed of the additional actions being taken at Fort Hood, and what policies are being revised to ensure Army culture continues to put people first and honors Spc. Guillen's life.This story was first reported by Sydney Isenberg at KXXV in Waco, Texas. 1135
The Sanderson Sisters are hoping to put a spell on you, 27 years later.Actress Bette Midler was recently on Fox 5 New York's morning show "Good Day New York" where she confirmed that the original cast of "Hocus Pocus" was reuniting for a sequel.“They want to make a movie, they’ve asked us if we were interested and of course all of us said yes,” Midler said in the interview. “I’m game, I’m totally game.”The movie won’t be the first time the Sanderson Sisters would be reuniting. Midler, Sarah Jessica Parker, and Kathy Najimy are coming together, as their “Hocus Pocus” characters, for a special live, one-night-only virtual event, “In Search Of The Sanderson Sisters,” which is set for Friday. 705
The state of Tennessee came one step closer to allowing wine sales on Sunday after state Senators voted to approve a bill which had already passed through the House. The vote passed 17-11 on Wednesday morning. Final approval will now lie in the hands of Governor Bill Haslam who needs to sign the bill in order for it to become law. The controversial plan will allow grocery stores to sell wine on Sunday beginning January 1, 2019.It will also permit liquor stores to immediately begin operating seven days a week. However, liquor store owners argue they are at a huge competitive disadvantage against major grocery store chains, who don't need to make any staffing changes in order to be open on Sundays. House members approved a similar plan on Monday by a vote of 53 to 35.If approved by the Governor, wine and liquor sales would be allowed from 8 a.m. to 11p.m. Monday through Saturday and from 10a.m. to 11p.m. on Sunday.Tennessee first voted to allow grocery stores to sell wine back in 2016 after years of back and forth and under constant pressure from citizens and grocery store lobbyists. 1151