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The Supreme Court is siding with Republicans to prevent Wisconsin from counting mailed ballots that are received after Election Day. In a 5-3 order, the justices on Monday refused to reinstate a lower court order that called for mailed ballots to be counted if they are received up to six days after the election. A federal appeals court had already put that order on hold. The three liberal justices dissented from the order issued just before the Senate started voting on Amy Coney Barrett’s Supreme Court nomination. Democrats argued that the flood of absentee ballots and other challenges posed by the coronavirus pandemic makes it necessary to extend the deadline. 677

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 Smithsonian announced the reopening of two prominent Washington, D.C., area attractions that have been shuttered during the spread of the coronavirus.The National Zoo located in Washington and the National Air and Space Museum in nearby Chantilly, Virginia, are scheduled to reopen Friday with a number of safety precautions in place. All other Smithsonian attractions will remain closed. Most other prominent D.C. destinations, including the White House and Capitol, also remain closed to visitors.Both at the zoo and the National Air and Space Museum, all visitors age 6 and over will be required to wear face coverings. The zoo and museum are also requiring timed tickets, and has scaled back its hours to close at 4 p.m.“As a public entity, we thrive on serving our visitors and making our collections readily available to them, virtually and in person,” said Lonnie Bunch, Secretary of the Smithsonian. “However, the safety and well-being of our staff, visitors and volunteers come first and are paramount, so we are taking a deliberate, phased and cautious approach to reopening. Our goal is to be safe and measured in order to adjust and pivot as necessary.” 1177

The US stock market sank deeper into the red following sluggish economic reports on Monday and bad news from a couple of blue-chip giants.The Dow fell 600 points by late afternoon, or 2.6%. The S&P 500 lost 2.6% and retreated to its lowest level of the year. And the Nasdaq joined the Dow & S&P 500 in negative territory for 2018. All three indexes have plunged about 7% so far this December.The Dow closed down 507 points for the day.And the Russell 2000 index of small-cap stocks tumbled into a bear market, marking a 20% decline from the record highs notched in late August.A weaker reading from the New York Federal Reserve about manufacturing in the Empire State and a drop in confidence from the nation's homebuilders weighed on the markets."Investors are zeroing in on this idea of slower growth for 2019," said Michael Arone, chief investment strategist at State Street Global Advisors. "More people are worried about a recession in late 2019 or 2020."The political noise in Washington isn't helping either. President Trump, in a tweet Monday morning, repeated his criticism of the Federal Reserve for its recent rate hikes. The Fed meets Wednesday and is widely expected to raise rates again.But Trump tweeted that "it is incredible that with a very strong dollar and virtually no inflation, the outside world blowing up around us, Paris is burning and China way down, the Fed is even considering yet another interest rate hike. Take the Victory!"The Fed is supposed to be politically independent. Any evidence that it might be swayed by attacks from Trump could unnerve the markets."If the Fed doesn't raise rates it will look like it's succumbing to the bullying of Trump's tweets," Arone said.But Nancy Perez, managing director at Boston Private, said the Fed is likely to slow down its pace of rate hikes in 2019 simply because the economy is slowing, not because of pressure from Trump.Perez added that the recent market turmoil is justified because investors are readjusting to this fact."We have been getting a bump in profit margins due to lower taxes but the earnings growth itself is not sustainable," Perez said. "Projections will come down and volatility will continue." 2247

The Republican National Committee spent more than 0,000 in August to cover some of President Donald Trump's legal fees associated with the federal investigation into Russian meddling in the 2016 election, an RNC official told CNN on Tuesday.The RNC sent 1,250 to Trump's personal attorney Jay Sekulow, via the Constitutional Litigation and Advocacy Group, and 0,000 to John Dowd, the attorney Trump hired in June, the official said.The payments will be disclosed in the RNC's spending report for the month of August, which will be released on Wednesday.Reuters first reported on Tuesday that the RNC was helping Trump with his legal payments associated with the special counsel's investigation. CNN first obtained the total amount of the RNC's spending on Trump's legal bills.The President's legal bills were covered through the RNC's legal defense fund -- not its political coffers -- which the RNC official said was established in 2014 to cover legal fees associated with election-related litigation.The RNC's payments to cover Trump's legal bills come despite the President's claims that his net worth is in excess of billion.The party official said the committee has not yet decided whether it will continue to make payments to cover the President's legal bills.The RNC is just the latest Trump-supporting political group to get involved in making legal payments related to the Russia probe.Last quarter, the Trump campaign spent more than 7,826 on legal fees. Though it's unclear what portion of those fees are going to attorney fees related to the Russia investigation, the campaign has employed attorneys to comply with Russia-related requests and has also made payments to the attorney representing the President's son Donald Trump Jr. in the Russia probe.The Trump campaign spent nearly 0,000 in legal consulting fees -- or about 15.5% of the campaign's expenses between April 1 and June 30, according to the latest Federal Election Commission report. 1992

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