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Federal Reserve chairman Jerome Powell gave investors reason to cheer on Wednesday when he suggested that the Fed may slow down its interest rate hikes.The Dow surged on the news and closed up 600 points, or more than 2%, in midday trading. The S&P 500 and Nasdaq each rose about 2% as well.Powell reassured investors that the Fed wouldn't risk killing off economic growth by continuing to aggressively raise rates next year."Our gradual pace of raising interest rates has been an exercise in balancing risks," Powell said during a speech at the Economic Club of New York. "We know that moving too fast would risk shortening the expansion. We also know that moving too slowly -- keeping interest rates too low for too long -- could risk other distortions in the form of higher inflation."Powell noted that rates remain relatively low and that they are just below what many economists consider "neutral for the economy -- that is, neither speeding up nor slowing down growth."Investors seemed to interpret Powell's comments as a sign that the Fed, which is widely expected to raise rates again at a meeting next month, may now only hike rates once or maybe twice at most in 2019 as opposed to earlier forecasts of three or four hikes.The Dow's most cyclical stocks were among the biggest gainers. Shares of Boeing (BA), Caterpillar (CAT), Microsoft (MSFT) and Apple (AAPL) helping to lead the rally.In fact, only four Dow stocks -- Verizon (VZ), United Technologies (UTX), DowDupont (DWDP) and Procter & Gamble (PG) -- were trading lower Wednesday afternoon.Matthew Cheslock, a trader at Virtu Financial, told CNNMoney editor-at-large Richard Quest on "Markets Now" Wednesday that the market interpreted Powell's comments as meaning that we are "closer to normal rates. I think that was what really sparked the market to go higher."Cheslock added that some of Powell's remarks about the market not being in a bubble were reassuring as well.Powell's comments may assuage concerns about the Fed possibly going too far with rate increases, a criticism leveled by President Donald Trump.But Tobias Levkovich, Citigroup chief US equity strategist, told Quest that the market may be overreacting."I'm not dancing or partying right at the moment," he said, adding that the Fed has talked about gradual rate hikes "for a very long time." "Maybe [the markets] were just worried it would be worse," Levkovich said.To that end, Trump, who chose Powell to replace former Fed chief Janet Yellen, has often bashed him and the Fed on Twitter and in interviews for the rate hikes.In fact, Trump attacked Powell again in a Washington Post interview Tuesday, saying he was "not even a little bit happy" with Powell and that the Fed was making a mistake with so many rate hikes.Trump even added that sometimes decisions he makes with his "gut" matter more than what other people's brains tell him.Whether or not investors were using their guts or brains when deciding to jump back into stocks Wednesday remains to be seen. But it's clear that the bulls were back in charge on Wednesday."Markets Now" streams live from the New York Stock Exchange every Wednesday at 12:45 p.m. ET. Hosted by Quest and CNNMoney's business correspondents, the 15-minute program features incisive commentary from experts.You can watch "Markets Now" at CNNMoney.com/MarketsNow from your desk or on your phone or tablet. If you can't catch the show live, check out highlights online and through the Markets Now newsletter, delivered to your inbox every afternoon.The-CNN-Wire 3545
FORTVILLE, Ind. — We continue to learn more about COVID-19 especially the symptoms and researchers are finding survivors are still dealing with the virus months after beating it.“Luckily for me, I did not have a severe case,” Nikki Privett said.She was diagnosed with COVID-19 in April.“I thought everything was fine. I thought, OK, the worst part was my eyes hurt to move,” Privett said.She thought she was in the clear until several months later when she says her hair was coming out in chunks.“At the end of June I noticed, you know girls our hair always falls out in the shower, but I noticed that more and more was coming out in my hands and then eventually in July it became handfuls and I was shocked and I was trying to figure out what was happening,” Privett said.“The long-term symptoms are you know there's a lot more of them than we expected,” said Dr. Natalie Lambert, an associate research professor at Indiana School of Medicine.Lambert said they’ve found COVID survivors are feeling a wide range symptom including hair loss.“We're finding that hair loss is temporary so that when the body starts to recover because it's a huge shock to have COVID-19 the virus impacts many different bodily systems at once so your whole-body needs time to recover,” Lambert said.“I hope that all of this is just temporary and that our bodies will learn to fight this,” Privett said.Lambert said a symptom that is really concerning to her and other researchers is vision changes. She said it’s important that you stay in tune with your body and question anything that doesn’t feel right.This story was first reported by Kelsey Anderson at WRTV in Indianapolis, Indiana. 1675

Four people have died after they were swallowed up by a massive sinkhole in a Chinese city, despite desperate rescue efforts to save them.According to state media, the sinkhole opened up around 2:30 p.m. Sunday in Dazhou, Sichuan province. Dramatic video from the scene showed people suddenly plunging through the pavement as it collapsed beneath them.Two victims died after being pulled from the pit and rushed to a hospital, state media said. They were reportedly married only days before.Efforts to rescue the other victims, a father and his young son, were unsuccessful, with the two found dead on Tuesday afternoon.Rescuers believed the final two were trapped around 10 meters (32 feet) underground, some two meters deeper than local rescuers' equipment could reach. 779
Former New Jersey Gov. Chris Christie issued a statement Friday saying he has asked not to be considered for the White House chief of staff job after meeting with President Donald Trump to discuss the role.Christie met with Trump on Thursday, but two sources familiar with the discussion said no offer had been made."It's an honor to have the President consider me as he looks to choose a new White House chief of staff. However, I've told the President that now is not the right time for me or my family to undertake this serious assignment," Christie said in a statement obtained by CNN but first reported by The New York Times."As a result, I have asked him to no longer to keep me in any of his considerations for this post," Christie added.The former governor was just the latest in a long string of people to discuss the chief of staff position with Trump.Earlier this week, one source close to the White House said that Christie was under consideration for the role. Christie's experience as a prosecutor is seen as a plus given the Mueller investigation and Democrats itching to investigate on the Hill.CNN has previously reported Christie has said he only wanted the role of attorney general and told friends he was offered the Department of Homeland Security secretary position, but did not want it. While chief of staff is not a Cabinet-level position, but it is the top staff role at the White House.There continues to be tension between Christie and the President's son-in-law and key adviser, Jared Kushner. As US Attorney in 2004, Christie prosecuted Kushner's father, Charles Kushner, for tax evasion, witness tampering and illegal campaign contributions. Charles Kushner pleaded guilty and served two years in prison.If Christie is selected, Kushner and his wife, Ivanka Trump, would both report directly to Christie under the existing staff structure.Though on the surface Christie and Kushner have a cordial working relationship, Trump understood that the notion of his son-in-law being OK with reporting to the man who put his father in jail is unlikely. Multiple sources say the Trump children will have the most influence on this decision.Earlier this year, Christie suggested that Trump's family working in the White House was an impediment to his presidency."The situation is made much worse by the fact that we have family members in the White House," Christie said on ABC's "This Week" in March. "In a normal situation, you might terminate a staff member for that reason. (It) becomes a lot more difficult if you're going to be sitting at Thanksgiving dinner with that person. And so, for Jared and for Ivanka and for all the other members of the family we were involved in one way or the other, I think everybody's got to focus on what's best for the President." 2822
Former prisoners are helping former prisoners break in to college courses. The Urban Scholars Union is a relatively new organization created by ex-cons for ex-cons looking to better themselves through education. USU’s President Cesar Garcia said they started 18 months ago at San Diego City College to help “justice impacted” students succeed. “[We want to] empower them and motivate them to be productive members of society,” said Garcia. “We’re not monsters that they make us out to feel and make us out to be,” said San Diego City College student Ryan Rising. “We’re humans that made poor choices.” Rising spent 15 years behind bars for carjacking and attempted extortion but will matriculate to Cal Berkley on a scholarship after earning his Associate’s at City.“I’m super proud of myself,” he said. Garcia, who served seven years for a list of crimes, said the USU provides a space for former prisoners to get help, guidance, and support. The organization recently expanded to Southwestern College and is working on helping students at Mesa and Grossmont Colleges. USU also recently received its largest donation to date. Current prisoners at Donovan Correctional in Otay Mesa donated ,000 to USU for scholarships and grants for former prisoners. “It just goes to show you how we do look out for each other,” said Garcia. “We just need go out and advocate to erase all these stigmas,” said Rising. 1470
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