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Investors were in a rotten mood Tuesday.Seemingly good results from Dow components Caterpillar, Coca-Cola and United Technologies didn't please Wall Street. The Dow closed down 425 points, or 1.7%, after opening with a 130-point gain. At its worst point of the day, the Dow was down more than 600 points.The Dow has fallen for the past five straight days — its longest losing streak in more than a year — and has given up its gains for the year.Why the nearly 650-point swing in the Dow in a matter of hours? Once investors took a closer look at the results, they focused on the negatives.Caterpillar, for example, warned that profit margins would probably not get any higher this year than they are now.And Coke investors were disappointed that lower prices may have helped drive sales -- even though Diet Coke finally returned to growth. Shares of Caterpillar plunged 6% while Coke's stock lost 2%.Verizon was one of the few companies that posted strong results Tuesday that didn't seem to have any caveats -- and it was rewarded for it. Shares of Verizon rose 2%.But other earnings reports were downright gloomy. 3M, another Dow component, lowered its outlook for the year. That sent its stock plunging 7%. Insurance company Travelers, also in the Dow, fell 3% after its earnings missed forecasts.All this negativity dragged down other old-school, classic industrial Dow companies too. Boeing and DowDuPont both fell about 3%.And tech investors were disappointed by increased expenses at Google parent Alphabet.Related: Why everyone is stressing about the 10-year Treasury Even though Alphabet posted solid gains in earnings and revenue that easily topped Wall Street's estimates, the stock fell 5% — and that helped drag down the S&P 500, Nasdaq and tech titans Apple, Amazon, Microsoft and Facebook.It didn't help that the yield on the 10-year US Treasury note rose above 3% for the first time in more than four years Tuesday morning.If this benchmark bond rate keeps climbing, it may make it more expensive to borrow money for mortgages and auto loans and could eat into profits at big US companies — especially since the Federal Reserve is expected to keep raising short-term rates.Still, one expert said investors may be overreacting to the moves in the bond market."I don't know that there is any magic to the 3.0% level other than it is a nice round number," said Jeff Mills, co-chief investment strategist for PNC Financial Services Group. "There is no rule that says rising rates are bad for the stock market."Mills added that since 1928, stocks have actually done a little bit better when rates have gone up. The market has gained about 11% on average during years that rates have gone up and 9% in years of falling rates.But jittery investors don't seem to care about historical market facts right now. They are selling first and asking questions later.The-CNN-Wire 2887
Ivanka Trump said Thursday the news of family separations at the border "was a low point" during her time in the White House."That was a low point for me as well," she said Thursday, speaking at an Axios Newsmakers conversation on workforce development at the Newseum. "I felt very strongly about that and I am very vehemently against family separation and the separation of parents and children so I would agree with that sentiment. Immigration is incredibly complex as a topic. Illegal immigration is incredibly complicated."Earlier this year, the Trump administration's immigration "zero-tolerance" policy resulted in the separation of thousands of children from their families. In June, Trump reversed course, signing an executive order to keep parents and kids together, but as of last week's deadline, 1 in 3 children still remained away from their parents, with no clear indication when they would be reunited.Ivanka Trump continued Thursday, "I am the daughter of an immigrant, my mother grew up in communist Czech Republic, but we are a country of laws. She came to this country legally and we have to be very careful about incentivizing behavior that puts children at risk of being trafficked, at risk of entering this country with coyotes or making an incredibly dangerous journey alone. These are not easy issues, these a
INDIANAPOLIS -- A leader of the white nationalist movement was arrested and charged with domestic battery Tuesday following an incident at his southern Indiana home.Court records show Orange County prosecutors charged Matthew Heimbach, the leader of the white nationalist Traditionalist Workers Party, with a felony count of domestic battery committed in the presence of a child and a misdemeanor count of battery.According to ABC-affiliate WHAS 11 in Louisville, which obtained a copy of the court documents, police were called to Heimbach’s compound in Paoli, Indiana, on a report that Heimbach had assaulted his wife’s stepfather, Matt Parrott. Parrott is also a member of the white nationalist movement.When police arrived at Heimbach’s home, they reportedly learned Heimbach had also attacked his wife while their children watched.Heimbach was booked into the Orange County Jail. Court records show he posted a ,000 cash bond on Tuesday.Heimbach was previously ordered to attend anger management classes in July 2017 when he pleaded guilty to physically harassing a female protestor at a Donald Trump rally in Louisville, Kentucky. The judge in the case, Jefferson County District Judge Stephanie Pearce Burke, waived Heimbach’s 90-day sentence on the condition that he not re-offend within two years. The new charges against him could potentially put that suspended sentence in jeopardy.Just months later, Heimbach was one of the organizers of the “Unite the Right” rally in Charlottesville, Virginia, that resulted in the death of 32-year-old Heather Heyer when a car plow into counter-protestors.Scripps station WRTV in Indianapolis first reported on Heimbach in 2016, when the outspoken white nationalist was hired as a case manager by the Department of Child Services. Then 24 years old, Heimbach had already appeared on Nightline for his views on white separatism.WRTV found Heimbach had been terminated less than three weeks after his hire date.The most recent incident involving Heimbach may have larger ripple effects within his white nationalist organization, according to the Southern Poverty Law Center, which tracks organizations it classifies as “hate groups.”In a post to the SPLC’s website Tuesday, the organization said it spoke with Heimbach’s father-in-law, Parrott, who told them he was leaving the group.An initial hearing on the battery charges against Heimbach in Orange County had not yet been set. Kentucky court records show Heimbach is scheduled to appear for a review hearing on June 1 for his case from the Louisville incident. 2577
Incredible video captured by researchers at Florida Atlantic University captured the blacktip shark's annual migration off Florida’s southeast coast.FAU researchers refer to the blacktip shark's as the "snowbirds of the sea". The sharks migrate south during the cold months and head up north when the weather, and water, start to warm back up. They leave the north when water temperatures drop below 71 degrees Fahrenheit and start heading south.The video was taken by FAU researchers on February 27, right off MacArthur Park in Singer Island.“Last year, we saw a dramatic decline in the number of blacktip sharks that migrated south. In fact, it was so low that we estimated the population to be about one-third of what we have seen in previous years,” said Kajiura, a professor in the Department of Biological Sciences and director of the Elasmobranch Research Laboratory in FAU’s Charles E. Schmidt College of Science. “We want to make sure that these snowbirds come back to South Florida, because if they don’t, it will have a huge ecological impact in this region.” According to researchers, this year's video off of MacArthur Park in Singer Island shows dramatically fewer blacktip sharks during migration season as compared to video footage from previous years. Mary Stringini is a Digital Reporter for ABC Action News. Follow her on Twitter @MaryWFTS. 1450
It is with great excitement that we can announce Elton's return to the stage in North America on January 19, 2022.For more information, please visit https://t.co/CcJKU471U8 #eltonfarewelltour pic.twitter.com/M3qZrR5yYE— Elton John (@eltonofficial) September 23, 2020 274