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Stocks are headed lower in afternoon trading on Wall Street after erasing earlier gains, as investors close out a brutal first quarter. The S&P 500 had a loss of more than 20% for the first three months of the year. The surge of coronavirus cases has sent markets tumbling since mid-February, halting what had been a good start to the year. Stocks have clawed back some of those losses with a rally the past week. Massive aid for the economy and markets from the Federal Reserve and Capitol Hill have helped spur some buying. The Dow Jones Industrial Average finished Tuesday down 410 points for the day, ending at 21,917 points. The Dow has lost nearly 8,000 points in the last eight weeks. While many industries saw declines in stock value in Q1 of 2020, the losses were especially pronounced for the travel and oil industries. 846

Rep. Elijah Cummings, a longtime Maryland Democrat and key figure leading investigations into President Donald Trump, has died at age 68, his office announced early Thursday morning.He died of "complications concerning longstanding health challenges," his office said in a statement.The congressman, who had represented Maryland's 7th Congressional District since 1996, served as the chairman of the House Oversight and Reform Committee, one of the panels involved in the 484

Puerto Rico is still feeling aftershocks following a 6.4 magnitude earthquake earlier in the week. On Friday, a 5.2 magnitude aftershock shook the island's southern coast. Friday's 5.2 earthquake was felt primarily in the southwest corner of the island, according to the USGS.Friday's aftershock marked the 13th earthquake of a 4.5 magnitude or stronger. A 4.6 magnitude earthquake also hit the southern coast of Puerto Rico earlier on Friday. The 6.4 magnitude earthquake caused strong to very strong shaking along the island's southern coast. Friday's 5.2 magnitude aftershock caused strong shaking in the same areas. 633

Subscription clubs for clothing, meals and razors have changed the way people shop. Now Nike is wading into the subscription market for the first time.Nike announced Monday that it is debuting Nike Adventure Club, a sneaker subscription for kids ages two through 10. Nike will offer parents three options for their kids: four pairs of sneakers a year for a month, six pairs for a month or 12 pairs for a month. Parents and kids will be able to choose from a selection of around 100 sneakers."This is probably one of the best examples of a major brand taking the attributes of a [direct-to-consumer] digital brand" and linking it to its broader strategy, said Bryan Gildenberg, chief knowledge officer at Kantar Consulting.Nike is targeting time-strapped parents in the suburbs and rural areas who don't live near a shoe store with the program. The company says that dragging young kids to a store every few months to try on sneakers that they will quickly outgrow can frustrate parents. Shopping for kids' shoes online also brings sizing issues and return hassles, the company says."We've discovered a huge pain point for parents around shopping for kids' shoes," Dave Cobban, general manager of Nike Adventure Club, told CNN Business. "This was a great opportunity to experiment with different solutions."Nike started piloting a sneaker club for kids two years ago. It grew to 10,000 members, and Cobban said Nike believes it's ready to unveil the service more broadly.Nike Adventure Club is a key initiative for the company. Forty staffers are working on the concept. The service gives Nike a way to draw parents who are outside of its traditional big-city customer base and build a connection with young kids. Other online styling services and subscription companies such as Stitch Fix, Kidbox and Rockets of Awesome are also fighting to win parents and children in the billion US children's clothing and footwear market.Perhaps more importantly for Nike, its kids' sneaker club allows the company to test out the subscription market and potentially apply it to its adult shoppers.Cobban noted that avid runners need to replace their shoes frequently and he mentioned the possibility of a marathon membership program."We're starting to think about what other athletes have problems that could be very easily solved by a subscription," he said. "This is the beginning of something pretty exciting for Nike." 2437

Sephora will close all locations on June 5 to hold diversity training for its staff after R&B singer SZA accused the store of racial profiling in April. 168

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