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The 2017 World Series is one for the ages and it seems as though every game was decided by the smallest of margins – that's why one gambler's undefeated record is amazing.The mystery gambler was discovered by Pregame.com's R.J. Bell and Bell has been following his earnings from the start.After Game 5 of the World Series, attention picked up around the large amounts of money the gambler was laying down at sports books. 429
Starting next week, KFC will offer their Beyond Fried Chicken product in select restaurants on the West Coast. The plant-based protein product debuted last year in Atlanta, and earlier this year in Nashville and Charlotte.According to a statement from KFC, testing in those markets “received an overwhelmingly positive consumer response,” and they are rolling it out in more cities.More than 50 restaurants in the Los Angeles, Orange County and San Diego area will offer Beyond Fried Chicken starting July 20.Beyond Fried Chicken was developed in partnership with Beyond Meat, a company specializing in creating plant-based protein products.Beyond Meat has partnered with dozens of restaurants and facilities to create plant-based protein menu options, including Carl’s Jr., Dog Haus, Black Bear Diner, Pizza Rev and LEGOLand. 834
Stocks tumbled Friday as trade tensions between the United States and China heated up.The Dow closed down 572 points, a drop of 2.3%, after President Trump threatened to escalate a confrontation with China over trade. It fell as much as 767 points earlier in the day. The S&P 500 and the Nasdaq each declined more than 2%.Friday's losses wiped out gains for the week, and the Dow sank back into correction territory — 10% below its all-time closing high in January.Trump said late Thursday that he was considering tariffs on 0 billion more in Chinese exports, which would triple what the United States is already planning."The fear of a policy mistake on trade is increasing," said Art Hogan, chief market strategist at B. Riley FBR.All 30 companies on the Dow lost ground on Friday. Caterpillar, Boeing and Nike, giants with heavy exposure in China, were among the biggest losers in the index."The ratcheting up of trade tensions clearly carries risks. The tariff threats, even if only intended as bargaining tools, will be difficult to back down from if talks fail to deliver results," Capital Economics' Julian Evans-Pritchard wrote in a research note Friday.Anxiety returned to Wall Street after three days of gains. The VIX, a measure of market volatility, spiked 12%. CNNMoney's Fear and Greed index sank further into "extreme fear" territory.Wary investors had been holding out hope that the two sides will reach a deal before the proposed trade barriers go into effect.White House officials, including top economic adviser Larry Kudlow, have sought in recent days to soothe business leaders' fears of a trade war that would constrain economic growth.Earlier this week, the Trump administration announced plans for tariffs on billion worth of Chinese goods in retaliation for China's alleged theft of US intellectual property. Beijing fired back hours later by threatening tariffs on billion worth of US goods, including cars, planes and soybeans.The market had been interpreting Trump's proposed tariffs as negotiating tactics meant to extract concessions out of China rather than a rigid position. But Wall Street began to reassess that view as the administration sent conflicting signals throughout the day."We've gone from Larry Kudlow trying to calm the markets down to the administration saying, 'Hey, ignore the markets,'" Hogan said.In a radio interview Friday morning, Trump said, "I'm not saying there won't be a little pain, but the market has gone up 40%, 42%, so we might lose a little bit of it."Selling accelerated later in the day after Treasury Secretary Steve Mnuchin told CNBC, "There is the potential of a trade war."Investors had been operating under the assumption China and the United States were negotiating to avoid a trade conflict, but Mnuchin avoided questions about whether the two countries were actively talking."As no one came out to pull this back, there was a gradual realization that this was something that might be a little more serious," said Brad McMillan, chief investment officer for Commonwealth Financial Network.Analysts said the market also responded to comments from Federal Reserve Chair Jerome Powell.Powell said that the US economy was growing and a turbulent stock market would not change the Fed's course to gradually raise interest rates. The Fed is on track to raise rates three times this year, but it could speed up that process to cool down the economy."Markets are forced to confront the idea that rates are going up and the stock market is not going to derail that process," McMillan said.Stocks were mostly unaffected by the March jobs report, which showed that the US economy added 103,000 positions, down from a much bigger gain in February and well below what analysts were expecting.Wages grew 2.7% in March compared with a year earlier, in line with expectations. Investors were watching that number because it's a barometer of inflation. In February, an unexpected jump in wage growth set off inflation alarm bells and caused stocks to plunge.The combination of the hiring slowdowns and modest wage growth temporarily eased Wall Street's concerns that the economy was overheating.The yield on the 10-year US Treasury note, which has been steadily climbing as investors' inflation expectations rise, dipped to 2.78% after the jobs report."Investors breathed a sigh of relief," said Sam Stovall, chief investment strategist at CFRA Research. "Now we only have one issue to deal with, and that's trade."—CNNMoney's Paul R. La Monica contributed to this report.The-CNN-Wire 4564
Summer driving will be more expensive this year. Thanks, OPEC.Prices at the pump are likely to be 14% higher than last summer — an average of .74 per gallon, the US government estimated on Tuesday.The price of oil has climbed because of efforts by OPEC and Russia. Brent crude, the global benchmark, surged 3.5% on Tuesday to .04 a barrel, the highest since late 2014. That's already above the EIA forecast of for this summer, suggesting gas prices could go even higher. Brent crude averaged just last summer.Summer driving season, which the EIA considers April through September, is historically when demand peaks for gasoline as Americans go on vacation. The EIA expects highway travel to increase 1.3% over last summer.Although gas is well below the a gallon prices of 2008, it has risen because of the recovery in the oil markets. The average gallon of gasoline fetched .66 on Tuesday, according to AAA. That's up from .39 last year, just as summer driving season was beginning.Of course, those are just national averages. West Coast states are grappling with more pain at the pump.Drivers in California, Oregon, Nevada, Washington State, Hawaii and Alaska already pay more than per gallon, according to AAA. California's average gas price has jumped to .52, compared with .99 a year ago.After crashing to just a barrel in early 2016, crude oil has more than doubled in price. Supply in the United States is very strong. Production of crude recently hit record high because of the shale oil boom.But foreign oil supply is down, largely because of OPEC's efforts to boost prices by curbing production. Saudi Arabia-led OPEC and Russia reached an agreement in late 2016 to pump less oil. OPEC and its allies agreed last November to extend the cuts through the end of 2018.The production cuts are designed to reduce the global oil glut — and they appear to be working, judging by the recovery in prices and decline in stockpiles.Saudi Arabia decided last year to slash shipments of oil to the United States, the market watched most closely by oil traders. American imports of Saudi crude declined 14% last year to the lowest since 1988, according to the EIA.At the same time, the United States is shipping record amounts of oil overseas?since Congress lifted a ban on most exports in 2015. US oil exports have nearly quadrupled since then. 2409
The American Bar Association will no longer review its "well qualified" rating of Justice Brett Kavanaugh now that the Senate confirmed him, an ABA official told CNN Monday.The official, who declined to speak on the record, cited an ABA policy of ending its rating process once a nominee is confirmed."Per the published policy and historical practice of the Standing Committee on the Federal Judiciary, once a justice or judge is confirmed, the Standing Committee's rating process is closed," the ABA's website states.The group had previously said that because of the allegations against Kavanaugh of sexual assault and conduct during his September 27 Senate Judiciary Committee hearing, it would reevaluate its rating. Kavanaugh has denied the allegations against him.The ABA's president had also taken the extraordinary step for the group by calling for the Judiciary Committee to delay its vote on Kavanaugh. 919