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The erratic stock market just made a serious comeback.Fears about slowing earnings growth sent the Dow careening 549 points lower on Tuesday before the index raced back to life.By the closing bell, the Dow was only down 126 points, or 0.5%.Similarly, the Nasdaq closed down 0.4%, erasing the vast majority of a 2.6% plunge. The index also climbed out of a technical correction, a 10% decline from prior highs.The S&P 500 suffered its fifth straight loss. But the broad index finished just modestly lower after touching its weakest point in nearly four months.Market veterans saw little reason for the dramatic recovery -- other than the fact that stocks had gotten to oversold levels."It was an impressive day. We reversed on very little news," said Art Hogan, chief market strategist at B. Riley FBR.Hogan pointed to how the rebound was led by two of the most beaten-down corners of the market: homebuilders and chip makers.Stocks sold off early on Tuesday after major US companies reported gloomy results and guidance. Disappointing numbers from Caterpillar and 3M reinforced ongoing concerns about how long blockbuster profits can last, especially given tariffs and rising costs."Investors are skittish about whether we've seen a peak in earnings," said Mark Luschini, chief market strategist at Janney Capital Management. "It's a schizophrenic market environment where things that didn't matter suddenly do."It's been a scary month for investors. The Dow and Nasdaq are on track for their worst months since January 2016."The market is fragile," said Rich Guerrini, CEO of PNC Investments. "But we're telling our investors to relax. We're in a correction. I think the market does have some legs left."The CNN Business Fear & Greed Index slipped further into "extreme fear." A month ago the gauge of market sentiment was flashing "extreme greed."Wall Street was also spooked by extreme turbulence in China, the epicenter of the trade war. The Shanghai Composite dropped 2.3% overnight. The sell-off wiped out a chunk of Monday's spike, the benchmark index's best day since March 2016. 2114
The funeral for Rayshard Brooks — an Atlanta man who was killed during an altercation with police earlier this month — took place Tuesday in a church with connections to the Civil Rights movement.Brooks' funeral was held at Ebenezer Baptist Church in Atlanta — the same church where Rev. Martin Luther King Jr. served as a co-pastor between 1960 and 1968.Dr. Bernice King, one of Martin Luther King's daughters, spoke during Brooks' funeral.Actor, writer and producer Tyler Perry provided the funds for Brooks' funeral. The funeral comes after an hours-long public viewing on Monday afternoon.Brooks was shot and killed in a Wendy's parking lot by former Atlanta Police Officer Garrett Rolfe on June 12. Rolfe's partner, Officer Devin Brosnan, first encountered Brooks after Brooks had fallen asleep in his car while waiting in the restaurant's drive-thru line.Rolfe arrived on the scene a few moments later. The officers subjected Brooks to a field sobriety test, which he failed. He later offered to lock his car and walk home, but Brosnan and Rolfe told Brooks they would be taking him into custody.As the officers attempted to handcuff Brooks, a struggle ensued. Brooks was able to grab Brosnan's stun gun and attempted to flee the scene. As he fled, Brooks appeared to point the stun gun in the direction of the police. That's when Rolfe shot Brooks in the back. Brooks later died in surgery at a local hospital.Fulton County District Attorney Paul Howard says Rolfe kicked Brooks after shooting him but before calling for emergency medical help. He also alleged that Brosnan stood on Brooks' shoulder. Both face charges in connection with Brooks' death, with Rolfe facing murder charges. 1701
The FBI is warning financial institutions that their ATMs could be targeted in a hacking attempt.The threat was reported Sunday by Krebs On Security, a popular cybersecurity blog run by the journalist Brian Krebs.Krebs reported that the scheme is known as an "ATM cash-out," which means the attackers can hack a bank or payment card processor and use stolen information to withdraw large sums of money at ATMs worldwide. His report cited a confidential alert the FBI shared with banks last Friday.The FBI did not comment specifically on this potential attack. In a statement to CNN, a spokeswoman said that "in furtherance of public-private partnerships, the FBI routinely advises private industry of various cyber threat indicators observed during the course of our investigations.""This data is provided in order to help systems administrators guard against the actions of persistent cyber criminals," the spokeswoman said.CNN reached out to two major banks, Wells Fargo and JPMorgan Chase, both of which declined to comment.Krebs has reported on similar "unlimited operations" before, including a scheme in which more than million was stolen from a Virginia bank in 2016 and 2017.The alert, called a private industry notification, was sent to a narrow group of cybersecurity professionals and system administrators at financial firms that had assets at risk, according to a federal law enforcement official.Though the FBI at times makes PSAs for significant cybersecurity threats, like when they told the public in May to reboot certain internet routers after a malware attack, no wider notification was made about the ATM scheme. 1659
The Florida recount deadline passed on Thursday afternoon with at least one of the state's largest counties unable to complete the task.Florida law stipulates that any races with margins outside 0.25% can now be certified by law. Races that are still within that range will head to a manual recount of overvotes and undervotes to be completed by Sunday at noon.Election boards in every Florida county have been using voting machines to recount ballots this week, with some of the larger counties working all day and night. There are currently three statewide races -- the contests between Democratic Sen. Bill Nelson and Republican Gov. Rick Scott for Senate; Democratic Tallahassee Mayor Andrew Gillum and Republican former Rep. Ron DeSantis for governor; Republican Matt Caldwell and Democrat Nikki Fried for agriculture commissioner -- that were within the .5% margin required for a statewide machine recount.The fiery race between DeSantis and Gillum is the most likely to come to a formal end. The Republican led by roughly 33,000 votes after the initial count. Gillum, who conceded the race on election night before taking back his concession a few days later, tweeted on Wednesday, "I believe that we win," hinting that he believes the gap could narrow. But there is no evidence yet that he made up enough ground to extend the fight.The two other contests are significantly closer and appear likely to head to a hand recount. Nelson and Scott are divided by roughly 12,000 votes, which is why most of the flurry of recent legal action has been spun out of their race.Palm Beach County missed the deadline, which a court ruled on Thursday afternoon will not be extended.Hours before the cutoff, a federal judge in Tallahassee rejected a Democratic motion to extend the deadline beyond 3 p.m., meaning last week's unofficial count out of Palm Beach County will likely stand.Nelson's campaign and the Democratic Senatorial Campaign Committee argued that deadlines for both the machine and subsequent hand recounts should be lifted for however long is determined is necessary by the counties."The Florida legislature chose to define emergency narrowly -- only as an event that results or may result in substantial injury or harm to the population or substantial damage to or loss of property," Judge Mark Walker wrote in explaining his decision. "The emergency exception does not apply in this case, where the delay is the result of outdated and malfunctioning vote-counting technology."Palm Beach County has been hampered repeatedly by faltering machinery and shoddy infrastructure.Susan Bucher, the county's supervisor of elections, told reporters on Thursday she takes "full responsibility" if the county fails to recount before today's deadline."As a supervisor I take full responsibility. That's my job. It was not for lack of human effort ... it was so incredible, and I thank everybody who participated," she told CNN's Rosa Flores during a press conference.Bucher told reporters a little more than 24 hours before the cut-off, slated for 3 p.m. on Thursday, that she was in "prayer mode." On Sunday, hours after the recount began, Bucher said that completing the process would be "impossible."CNN has not called the Senate race between incumbent Nelson and his challenger, Republican Gov. Rick Scott. Before the recount began, Scott led Nelson by around 12,000 votes. The margin in the gubernatorial race between Republican Ron DeSantis and Democrat Andrew Gillum, which is also subject of the recount, is larger, with DeSantis up on Gillum by around 33,000 votes.Bucher's worries were compounded on Tuesday when the county's old and overheated machines malfunctioned, forcing officials to start their recount of early votes from scratch. By Wednesday, the already distant hopes of an on-time finish seemed to be slipping away.CNN observed long stretches of inaction on the floor of the cavernous facility which has been occupied by reporters, lawyers and operatives from both parties, and volunteers who have been working -- when the hardware complies -- day and night."It's an unusual request to make of your staff. You know, can you leave your kids behind, stay here and I'll feed you sub sandwiches and pizza and you'll work your brains out," Bucher said on Wednesday. "We're trying to meet a deadline that really reasonably shouldn't be there."Democrats agree -- and will make their case in a federal court in Fort Lauderdale on Thursday morning at 9 a.m.Lawyers for Nelson's campaign and the Democratic Senate campaign arm are suing to allow all 67 counties the time they say is required to complete their recounts. According to a legal filing, the Democrats will argue that enforcement of the current deadlines, including another on Sunday at noon for a potential hand review, would violate the constitutional rights of "thousands of Florida voters at risk of disenfranchisement in the 2018 general election."If their suit is rejected and Palm Beach County fails to complete its work on schedule, the state is expected to certify the unofficial results as initially reported ahead of the recount.A spokeswoman for the Florida Department of State told CNN on Sunday that Florida law does not give the secretary of state the authority to grant extensions.Palm Beach County GOP Chairman Michael Barnett told CNN on Sunday afternoon that a blown deadline would be "good news for Republicans, because our candidates (for Senate and governor) are ahead.""If they're not able to meet the deadline, the secretary of state of Florida may go ahead and certify the elections for our candidates," Barnett said. "In that case, you can bet your butt there will be lawsuits filed everywhere."Barnett, who was inside the facility along with Democrats early on in the recount, was critical of the infrastructure there from the start."It's an outdated process," he said. "The machinery is old. They don't have enough updated machinery to go through all the ballots to run one election, let alone all three statewide races."As of 4 p.m. Wednesday, at least 48 of Florida's 67 counties had finished their recounts. Every one of them reached by CNN -- with the exception of Palm Beach -- expressed confidence they would get in under the wire.In a different lawsuit, a federal judge in Florida ruled Thursday that the state must give voters whose mismatched signatures disqualified their provisional and mail-in ballots until Saturday at 5 p.m. ET to correct those signature problems -- extending the deadline by two days. 6536
The CDC reports that the number of flu cases is low right now, and it could be because of safety precautions to slow the spread of the coronavirus, including wearing masks and remaining distant from people in public. Also, high levels of flu vaccinations.The Centers for Disease Control and Prevention tracks flu vaccine distribution and shows, so far for the 2020-2021 season, just under 190 million flu vaccines have been distributed. This compares to about 174 million distributed during the whole 2019-2020 season.According to the CDC’s weekly “flu view” update, “seasonal influenza activity in the United States remains lower than usual for this time of year.”“Overall flu activity is low, and lower than we usually see at this time of year,” Dr. Daniel B. Jernigan, director of the influenza division of the Centers for Disease Control and Prevention, told the New York Times. “I don’t think we can definitively say there will be no twindemic; I’ve been working with flu for a long time, and I’ve been burned. But flu is atypically low.”However, they caution that flu activity may increase in the coming months. Flu season typically peaks at the beginning of the year, depending on the region.The CDC’s map showing state-by-state flu activity shows the majority of the country with “minimal” rates of flu activity, with Oklahoma at a low “moderate” level. A comparison to the 2019-2020 season showed two states were in the moderate level at this time.“The unprecedented demand we’ve seen for flu shots this season, along with safety precautions everyone is taking to limit the spread of COVID-19, such as social distancing, wearing facemasks and frequently washing their hands, may be contributing to lower flu activity this season,” Dr. Kevin Ban, the chief medical officer at Walgreens, said in a written statement.Related: Is it the flu or coronavirus? Walgreens is reporting fewer sales of antiviral medications for flu so far this season compared to 2019. The health and wellness company has a flu tracker each season that tracks regional activity.Health experts remind everyone it is not too late to get the flu vaccine and be protected for the 2020-2021 flu season. 2186