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Former television anchor and Democrat Chris Hurst, whose girlfriend Alison Parker was killed on live television in 2015, has won the race for the 12th district of Virginia's House of Delegates.Hurst had received 53.51% of the votes as of 9:04 p.m. Tuesday night, with 97.14% -- or 34 of the 35 of precincts -- reporting, according to the Virginia Department of Elections. In a February op-ed for The Daily Beast, Hurst announced he was leaving his job as a TV journalist to run for office. 497

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

For the second year in a row, US seniors will see increases in their Social Security checks starting in January.Recipients will get a 2.8 percent boost in 2019, higher than last year's 2 percent increase — which followed years of minimal changes in payments.The average payment for all retired workers will go up from ,422 to ,461 per month, or .The annual cost of living adjustment is pegged to inflation, which has been rising faster over the past year. The upcoming 2019 increase, which will cover 67 million Americans, is the largest since a 3.6 percent hike in 2012.The announcement from the Social Security Administration comes after the release of the Consumer Price Index for September, which shows a 2.3 percent increase in the cost of all items over the past year. The year-over-year increase in August was 2.7 percent.Lately, the largest component of rising costs has been housing, with low inventory and a re-emergence of first-time home buyers driving up prices. The CPI's measure of gas prices is also up 9.1 percent since last September.Senior advocacy groups hailed the increase but said it still wasn't enough to cover the living costs of older Americans.The Senior Citizens League, a group mostly comprised of retired military veterans, voiced a particular concern in a report released Thursday: that the 5 million Social Security recipients with the smallest monthly payments would effectively see no increase in 2019 after taking into account rising premiums for Medicare Part B, which are automatically deducted from Social Security Checks."We need to strengthen and expand Social Security with COLAs that reflect the real expenses seniors face," said Richard Fiesta, executive director of the Alliance for Retired Americans, which is supported by major labor unions.The group supports pegging cost-of-living increases instead to a measure of inflation specifically tailored to people older than age 62, which factors in higher healthcare costs. A bill has been introduced in the House to make that change and hasn't moved further. 2082

Former "The Price is Right" host Bob Barker, 94, was hospitalized on Monday with non-life threatening injuries, Hollywood Reporter confirmed. Hollywood Reporter said that ambulances were dispatched to Barker's Los Angeles residence at 1 p.m. PT.Barker's manager told TMZ that the 94-year-old woke up to severe back pain. TMZ captured photos of Barker being loaded onto the back of an ambulance. He was then transported to Cedars-Sinai hospital.Barker was a fixture of daytime TV since the early days of television. Barker spent 35 years as host of The Price is Right until his retirement in 2007. Before The Price Is Right, Barker hosted "Truth or Consequences" for 18 years. Barker will celebrate his 95th birthday on Dec. 12. 765

Ford is recalling about 350,000 trucks for a problem that could cause them to roll even after the driver shifts into park.The automaker says the issue affects 2018 Ford F-150 and Ford Expedition vehicles with 10-speed automatic transmissions, as well as Ford F-650 and F-750 vehicles with 6-speed automatic transmissions.Ford says a piece of equipment on the affected vehicles can become dislodged over time, which means the car won't be in the gear that it looks like it's in, such as park.This means that if the driver shifts the car into park, the car might not actually be in park — and there would not be a warning message to indicate that. If he or she doesn't use a parking brake, Ford says the vehicle could roll.Ford says it's aware of one reported accident and injury.The company is also recalling more than 100 other vehicles for a missing transmission roll pin. If the pin is missing, the company says that the transmission on those vehicles might eventually lose the ability to park, even if the driver shifts the car into that gear.Ford says that problem affects around 160 of the 2017 and 2018 Ford F-150s, 2018 Ford Expeditions, 2018 Lincoln Navigators and 2018 Ford Mustangs with 10R80 transmissions.  1231