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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 world’s population has been growing, spiking in the last few centuries, and now sits around 7.6 billion. A study published this week suggests global population will peak around the year 2064 at roughly 9.73 billion people.Researchers looking at the models believe the world’s population will then begin declining, reaching roughly 8.79 billion in the year 2100. Their reasoning for the decline is that “continued trends in female educational attainment and access to contraception will hasten declines in fertility and slow population growth.”According to the study, funded in part by the Bill and Melinda Gates Foundation and published in The Lancet, the five largest countries, population-wise, in 2100 are projected to be India, Nigeria, China, the U.S. and Pakistan. They are projecting America will have a population of roughly 336 million people in 2100. Currently, there are an estimated 331 million people living in the U.S.The average life expectancy in 2100 will be around 80 years old. The current global life expectancy is estimated at 72 years old. 1073
The success of online retailers such as Amazon is proof positive that people like shopping online, but many parents still prefer going to the actual store for their children's back-to-school supplies.That way, they have their items right away, and their children can see and hold their new supplies themselves. Who's getting the better deal, though? People who frequent Amazon, or those who head to physical stores such as Target and Walmart?We priced a basket of items for a third-grade classroom, including pencil sharpeners, Crayola colored pencils, Elmer's school glue, Expo markers and Ticonderoga pencils.And we can't forget that oh-so-cute Disney backpack. 691
The unemployment rate has dipped below 4 percent for the first time since 2000.The United States added 164,000 jobs in April, the Labor Department reported Friday. That was slightly below what economists expected. Unemployment dropped to 3.9 percent, the lowest since December 2000."The employment situation continues to surprise everyone," said Robert Frick, chief economist with Navy Federal Credit Union. "Getting down to 3.9 is quite a marker."Wages grew 2.6 percent from a year earlier. That was also slightly below expectations.The report indicates another month of solid job growth for an economy that has been expanding for almost nine years — the second-longest streak on record.Hiring gains in April were broad. Professional and business services added 54,000 jobs, health care added 24,000, and manufacturing posted an increase of 24,000 jobs.The mining sector added 8,000 jobs, extending its gains. Employment in mining has risen by 86,000 since October 2016.The wage growth number seemed unlikely to alarm Wall Street, which has been worried in recent months about inflation. Stock futures were little changed after the report came out.Inflation is closing in on the Federal Reserve's 2% target, gasoline is heading toward a gallon, and companies are reporting cost pressures. Faster inflation could force the Federal Reserve to raise interest rates more quickly than planned.Frick believes unemployment will keep falling as businesses offer more attractive wages and benefits to fill openings."There's still hundreds of thousands of more people who will enter the workforce," he said. "I think we can get down to 3.5 percent."If unemployment falls much further, it will reach territory not seen in half a century. Unemployment fell as low as 3.8 percent in April 2000, in the waning days of the technology boom. The last time it was lower than that was 1969. 1898
The sun was setting, dinner was waiting and President Donald Trump was making the short walk to his private residence when, on March 8, he suddenly made a detour to the press briefing room.Peeking through a half-opened pocket door, Trump caught the eye of a small handful of reporters and drew them closer."South Korea's going to be making a major statement at about 7 o'clock," Trump said coyly. Vice President Mike Pence stood silently behind him. 457