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The stock market is on the comeback trail.After another wobbly session, the Dow soared 287 points, or 1.2%, on Friday. It was the index's best day since August.The Dow had soared 400 points at the open before giving up most of those gains and then resuming its rally. The Dow lost 1,378 points over Wednesday and Thursday.The broader S&P 500 jumped 1.4% on Friday. The Nasdaq, which has taken the brunt of the recent stock market turbulence, spiked 2.3%.Despite Friday's rebound, all three major indexes suffered their worst weeks since March. And the S&P 500 is down three straight weeks. That hasn't happened since the Brexit referendum of June 2016.Investing experts weren't exactly sure what turned stocks negative by midday. The driving forces behind this week's downturn -- trade war and interest rate fears -- were around before this week, and yet market volatility is spiking."The sellers have control right now," said Justin Walters, co-founder of Bespoke Investment Group. "The scariest sell-offs are the ones you can't tie to a specific reason."Stocks had turned sharply south over the past week because investors are concerned about rising interest rates. As the Federal Reserve raises rates to keep the economy from overheating, 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."What we are seeing now is changing sands. The ground isn't stable and people are figuring out where to go next," said JJ Kinahan, chief market strategist with TD Ameritrade.Tech stocks have come under fire because they are some of the riskiest and most expensive parts of the market. Investors fear that tech companies may not hold up well in a downturn, particularly as interest rates spike. A proxy for the tech sector had its sharpest plunge in seven years on Wednesday.But Big Tech on Friday regained some of its losses. Facebook (FB), Apple (AAPL), Amazon (AMZN), Netflix (NFLX) and Google (GOOGL) were all up.Asian and European markets also came back Friday. The Hang Seng soared 2.2%. Stocks in Shanghai rose 0.9% and the Nikkei rose 0.5%. Stocks in London, Germany and France all rose about a half percentage point.Markets had bounced back Friday morning following news that President Donald Trump plans to meet next month with Chinese leader Xi Jinping at the G-20 summit. That eased some of the investors' fears about another trade war escalation. China also reported its exports rose nearly 15% in September, stronger than expected. That suggests China is weathering the first waves of new tariffs that the Trump administration imposed on billion of Chinese exports this summer.But Kinahan is still worried about US-China trade talks. He thinks that a deal is key in order for the markets to get back on track, adding that a full-blown trade war could undo much of the positives from the Trump administration's pro-business policies."The concern is that if nobody blinks, it could negate all the tax cuts we had," he said.Earnings season also kicked off Friday morning, with JPMorgan (JPM) and Citigroup (C) reporting their quarterly finances before the bell. Wall Street analysts expected the financial sector to post another incredibly profitable quarter — and JPMorgan managed to?beat their already lofty expectations.In times of market turbulence, there's nothing like soaring profits to calm investors' nerves.Rebounds after disastrous market selloffs are common. Investors who think the market may be oversold look to buy stocks they think are suddenly cheap.But markets are fickle. 3804
The US Department of Education has opened an investigation into the Ohio State University's handling of former students' allegations of sexual misconduct by a school doctor, according to the university.The federal investigation will be conducted by the department's Office for Civil Rights (OCR), which oversees Title IX complaints, the school said in a statement Thursday.The inquiry, led by the OCR's regional office in Cleveland, Ohio, "will examine whether the university is responding promptly and equitably to complaints and reports by former students," the statement said, "including allegations that employees knew or should have known about the sexual misconduct and allowed the abuse to continue."The scandal surrounding the alleged actions of the late Dr. Richard Strauss has grown since the university first announced in April its own investigation, headed by the law firm Perkins Coie, to look into claims made by male former athletes on 14 sports teams.Since then, more than 100 former Ohio State University students have reported firsthand accounts of sexual misconduct by Strauss, the school said last month.Some of them, mostly former student athletes, have come forward to publicly claim that Strauss sexually abused them under the guise of a medical examination.According to the school, the alleged abuse took place between 1979 and 1997."We welcome the involvement and careful oversight of OCR and look forward to providing any information we can," said Gates Garrity-Rokous, the school's vice president and chief compliance officer, in a statement about the US Department of Education's investigation."We responded promptly and appropriately to the allegations received in April about Dr. Strauss," Garrity-Rokous continued. "We are confident in the independence and thoroughness of the investigation we launched then as well as our ongoing commitment to transparency."The-CNN-Wire 1910
The US Department of Education has opened an investigation into the Ohio State University's handling of former students' allegations of sexual misconduct by a school doctor, according to the university.The federal investigation will be conducted by the department's Office for Civil Rights (OCR), which oversees Title IX complaints, the school said in a statement Thursday.The inquiry, led by the OCR's regional office in Cleveland, Ohio, "will examine whether the university is responding promptly and equitably to complaints and reports by former students," the statement said, "including allegations that employees knew or should have known about the sexual misconduct and allowed the abuse to continue."The scandal surrounding the alleged actions of the late Dr. Richard Strauss has grown since the university first announced in April its own investigation, headed by the law firm Perkins Coie, to look into claims made by male former athletes on 14 sports teams.Since then, more than 100 former Ohio State University students have reported firsthand accounts of sexual misconduct by Strauss, the school said last month.Some of them, mostly former student athletes, have come forward to publicly claim that Strauss sexually abused them under the guise of a medical examination.According to the school, the alleged abuse took place between 1979 and 1997."We welcome the involvement and careful oversight of OCR and look forward to providing any information we can," said Gates Garrity-Rokous, the school's vice president and chief compliance officer, in a statement about the US Department of Education's investigation."We responded promptly and appropriately to the allegations received in April about Dr. Strauss," Garrity-Rokous continued. "We are confident in the independence and thoroughness of the investigation we launched then as well as our ongoing commitment to transparency."The-CNN-Wire 1910
The video streaming service Netflix has been indicted by a grand jury in Texas over the film “Cuties,” alleging the company used “lewd” images."Cuties" is a French film that follows the story of an 11-year-old Senegalese immigrant in France who rebels against her family's Muslim traditions and joins a free-spirited dance crew.The film, directed by Ma?mouna Doucouré and originally called “Mignonnes”, won a directing award at Sundance Film Festival earlier this year.A Tyler County, Texas grand jury moved to return an indictment against Netflix last month, according to multiple media reports.The complaint alleges Netflix knowingly promoted visual material which “depicts the lewd exhibition of the genitals or public area of a clothed or partially clothed child who was younger than 18 years of age at the time the visual material was created, which appeals to the prurient interest in sex, and has no serious, literary, artistic, political, or scientific value.”In response, Netflix stated “‘Cuties’ is a social commentary against the sexualization of young children,” according to a statement in Deadline. “This charge is without merit and we stand by the film.”Netflix was reportedly served a summons October 1.Earlier this summer Netflix was forced to apologize for what they called “inappropriate art work” used to promote the movie on their service.The main image Netflix originally used shows the four lead actresses, all girls, wearing black and turquoise dance outfits revealing their stomachs and most of their legs, while posed mid-dance.The images used in France for the film show the girls walking down the street holding shopping bags.The film is recommended for 16+, according to Netflix. The image and description for the film have been updated in Netflix.The poster sparked outrage online, and with some comparing the poster to pedophilia. In the days following the release of the artwork, thousands had signed a Change.org petition calling for the film to be removed from Netflix. The film is now available on the service.Doucouré said the film is based in part on her own childhood experiences, and those of girls growing up today.“This is most of all an uncompromising portrait of an 11-year-old girl plunged in a world that imposes a series of dictates on her.” She said in an interview with Cineuropa.She continued that it is important to not judge these girls, but to understand them, listen to them and give them a voice. 2458
The US Food and Drug Administration on Thursday announced the approval of?the first generic version of EpiPen.The auto-injector pen delivers the drug epinephrine to patients experiencing a severe allergic reaction that, if untreated, could develop into the life-threatening condition of anaphylaxis. The medication is delivered into a muscle as a single dose, like a shot, through an injector pen with a spring.Allergies from food, bug bites, medications and latex can cause life-threatening reactions.The newly approved generic is made by Teva Pharmaceuticals and offers an alternative for patients who, until now, have been able to use only the brand-name EpiPen made by Mylan. It is approved in a smaller dose for children, as well.There are two other brand products on the market for a severe allergic reaction: Adrenaclick and Auvi-Q.The newly approved option made by Teva is the only approved non-brand option and can be substituted only for Mylan's EpiPen."Today's approval of the first generic version of the most-widely prescribed epinephrine auto-injector in the U.S. is part of our longstanding commitment to advance access to lower cost, safe and effective generic alternatives once patents and other exclusivities no longer prevent approval," FDA Commissioner Dr. Scott Gottlieb said in a statement announcing the approval.In recent years, Mylan came under fire for a price increase that put the product out of reach for many who needed to keep the drug on hand. 1488