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The Dow Jones Industrial Average has nearly made a full comeback from the coronavirus doldrums its faced during the spring.After peaking in February at 29,551, the Dow Jones dropped to 18,591 just a month later. On Tuesday, the Dow closed at 29,420 points for its highest close since February 12.The Dow Jones has been spurred by news that Pfizer’s Phase 3 coronavirus vaccine is showing at 90% effectiveness rating. The news has buoyed stocks from across the spectrum in recent days, including travel, technology and entertainment.After a summer of impressive gains, the Dow leveled off for much of the fall as coronavirus cases began to surge throughout the US. 671

The Dow Jones Industrial Average traded above 30,000 points for the first time Tuesday.The crest came as investors were encouraged by the latest progress on developing coronavirus vaccines and news that the transition of power in the U.S. to President-elect Joe Biden will finally begin.Traders were also encouraged by news that Biden had selected Janet Yellen, a widely respected former Federal Reserve chair, as treasury secretary.The Dow rose more than 400 points, or 1.4%, to trade just over 30,000 midday Tuesday. The S&P 500 index, which has a far greater impact on 401(k) accounts than the Dow, rose 1.3%.Shortly after the Dow crested, President Donald Trump delivered remarks at the White House, congratulating his administration and the people of the U.S.“The stock market has just broken 30,000, never been broken, that number, that’s a sacred number, 30,000. Nobody thought they’d ever see it,” said Trump. “That’s the 9th time since the beginning of 2020 and it’s the 48th time that we’ve broken records during the Trump administration. And I just want to congratulate all the people within the administration that work so hard. And most importantly, I want to congratulate the people of our country, because there are no people like you.”Like others, Trump attributed the success of the stock market to the promising news that multiple vaccines are proving to be effective and headed for FDA approval.“Despite everything that’s taken place with the pandemic, I’m very thrilled with what’s happened on the vaccine front,” said Trump. “That’s been absolutely incredible. Nothing like that has ever happened medically and I think people are acknowledging that and it’s having a big effect.”Trump, who often speaks for long periods of time and has sparred with the media in the past, kept Tuesday’s remarks short and didn’t take questions as reporters asked him why he hasn’t conceded to Biden for the good of the country.Watch the president’s remarks below: 1979

The coronavirus pandemic put the country on pause, but now that some cities and states are opening back up, what will that mean for the future of events?Kamron Khan has a lot of thoughts about that question. The professional photographer owns Kamron Khan Photography based in Cleveland and usually photographs large events, with hundreds of people that are booked a year or more in advance.That was until the novel coronavirus pandemic hit, and suddenly she found that one event after the next was rescheduled indefinitely or canceled all together.“It’s been really tough from thinking I was going to have one of my best years ever to no income,” said Khan.Everything from the 2020 Olympics to the remainder of the NBA season, the lights of Broadway to the lights of Hollywood – big events, and events that are only big to those involved have been postponed or canceled around the world.Khan, despite the drop in income, said she understands the caution.“I'm very concerned because I get a lot of these events that people are having, are big life moments - weddings to baby showers - you have all of these different types of things and you want to celebrate and I get that, but sometimes people just need to take a step back and realize ‘Hey you know what, why don't we celebrate next year? Why don’t we just keep it small, wait for things to die down?’ And I in no way think anyone's overreacting, but I would rather overreact and cancel things now than to have things go downhill and then it be much worse,” said Khan.She said right now she has a hard time imagining when events with hundreds of people will be commonplace again.“Right now, I can't until [infections] really change and really start going down in a downward trend. I can't even think about having these large gatherings and I think a lot of people don't want to anyway. Even if we were allowed to,” said Khan.The Centers for Disease Control and Prevention issued guidance about big gatherings now and in the future. The CDC suggests that event organizers do things like provide supplies to prevent the spread of COVID-19, including hand sanitizer and disposable facemasks. The CDC also urged event organizers to discourage people who are vulnerable to the disease -- like older adults – from coming to events at all.The guidance also states that, “Organizers should continually assess, based on current conditions, whether to postpone, cancel, or significantly reduce the number of attendees (if possible) for mass gatherings.”Nick Borelli, a marketing and live event expert, said that at least in the next year or so, people should expect to see smaller, more local events. He said those first events will also likely have cultural significance – like a city’s celebration or a big concert – rather than a conference or trade show.Borelli also said that in order for people to gain confidence going to events again, any initial events would need to be successful - with no new infection clusters.“If [cultural events] happen, it will just happen with an increased amount of trust, knowing that people want things to be the way that they were. So there is the push for what the bias is a confirmation bias. They want things to be that way, they're just looking for it,” said Borelli.He also said that as far as virtual events go, it’s easy to see which events will likely stay virtual in the future by looking at how different industries are planning right now.“Weddings are being postponed with the hopes to come back as they were,” said Borelli. “Corporate is making a move to adjust things to the cliché of new normal, which at the very least, be a world of hybrid [partially online and partially in person] for quite some time and probably sticking to a percentage of that.”Those virtual events offer their own unique challenges and triumphs. There isn’t that real, in-person interaction, but there is the potential to reach more people who may not have been able to take time off or afford to go to a conference.Borelli also said right now offers a great opportunity to gather data about the events that are happening online right now – to better see what things work better virtually.“I think that depending on the data that we collect in this time, and then also in the time that comes next, we can potentially prove our value in a black and white way that we never able to before,” said Borelli.For those in the event industry right now Borelli acknowledged that there is pain and not everyone will survive. And for those who do survive, it will look and be different for a long time.Khan said her new normal will – among other things – mean wearing a mask for the foreseeable future.“For myself, I'll definitely be wearing a mask whether I'm photographing people inside or outside, I just want to,” said Khan. “Not just protect myself, but I want to show others how people look at me and realize I'm doing everything that I need to be doing.” 4928

The fatal New York City helicopter crash that killed everyone on board except the pilot may have been caused by a passenger's piece of luggage, the pilot told investigators.The pilot said one of the passenger's bags may have inadvertently hit the emergency fuel shutoff button, leading to the crash that killed five passengers, a senior law enforcement official said.The National Transportation Safety Board will try to determine the cause of the Sunday evening crash, the Federal Aviation Administration said. The NTSB tweeted that an investigation team of 14 people would arrive Monday morning.  610

The future of the Deferred Action for Childhood Arrivals program got murkier Tuesday when the Texas attorney general made good on a threat to challenge it in court.The lawsuit throws a wrench in an already-complicated legal morass for the DACA program, which protects young undocumented immigrants who came to the US as children and which President Donald Trump has been blocked from ending, for the time being, by other federal courts.The lawsuit has the potential to create a headache for the Justice Department and courts as it could potentially conflict with rulings from judges in three separate judicial regions of the country who have blocked the end of DACA and could force the government to take an awkward position in the case.It may also potentially seal the issue's path to the Supreme Court.Texas Attorney General Ken Paxton and six other states on Tuesday filed a lawsuit challenging the lawfulness of DACA, arguing that former President Barack Obama's initial creation of DACA in 2012 violated the Constitution and federal law.The case was also re-assigned late Tuesday to District Judge Andrew Hanen, the judge who initially issued the nationwide ruling preventing DACA from being expanded through a similar program in 2014. Hanen was seen as particularly unfriendly to DACA based on his ruling in the related case, and advocates feared a DACA challenge before him would likely be decided the same way. His ruling ended up remaining in place after a Supreme Court challenge deadlocked 4-4 while awaiting a new justice after the death of Justice Antonin Scalia.The move follows through on a threat from Paxton and what was originally nine other states to challenge DACA in court as part of a lawsuit regarding a similar but broader program that expanded upon DACA to include parents. Paxton issued an ultimatum to Trump: End DACA himself or defend it in court and face the prospect it is overturned by a judge that had already rejected the program's expansion in that other lawsuit.Under Paxton's threat, Trump and his administration decided to end the program in September, with a wind-down period ostensibly to allow Congress to act to save it legislatively. After the administration said they would rescind the program, Paxton backed off and allowed the other lawsuit to be dispensed with.But multiple lawsuits were filed challenging the way Trump ended the program -- resulting in multiple federal judges putting the brakes on the move and ordering the Department of Homeland Security to resume processing renewals for the roughly 700,000 participants in the program. A federal judge in DC last week went a step further, saying the department had to resume accepting new applications unless it issued a new legal justification for ending the program that passed muster within 90 days.The Trump administration had used the possibility of a court immediately terminating DACA in response to such a lawsuit from Paxton as the justification for ending the program altogether -- a justification the federal judge in DC found flimsy.Congress, meanwhile, has failed to reach consensus on how to preserve the program with legislation, and the court rulings preserving the program only served to further take the pressure off lawmakers.The states challenging DACA are Texas, Alabama, Arkansas, Louisiana, Nebraska, South Carolina and West Virginia.Tuesday's move leaves plenty of questions going forward -- including whether the Justice Department will defend DACA in court in Texas or allow another entity to argue in its favor. The ruling could also have implications for the DC case and whether the administration's legal reasoning gains credence.If the Texas court were to also issue a nationwide ruling in favor of the termination of DACA, it could set up dueling nationwide decisions that would likely end up at the nation's highest court."The first three courts have ruled in favor of DACA recipients," said Stephen Yale-Loehr, a Cornell Law School professor and attorney with Miller Mayer. "If this lawsuit goes the other way, the Supreme Court may have to decide the issue." 4126