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Stock market volatility is back in a big way: The Dow is set for a big rally Friday after a two-day meltdown.Dow futures pointed to a 350-point jump at the open. The Dow lost 1,378 points over Wednesday and Thursday.The broader S&P 500 also looked like it would rally, with futures about 0.9% higher. The Nasdaq, which has taken the brunt of the recent stock market turbulence, was set to rise 1.5%.Why are markets suddenly bouncing back? News late Thursday that President Donald Trump would meet next month with Chinese leader Xi Jinping at the G-20 summit eased some of investors' fears about another trade war escalation. On Friday, China 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 summerEarnings season also kicked off Friday morning, with JPMorgan (JPM) and Citigroup (C) reporting their quarterly finances before the bell. Wall Street analysts expected banks 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.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 looked to regain some of their losses. Facebook (FB) rose 1%, Amazon (AMZN) was up 3%, Apple (AAPL) rose 2%, Netflix (NFLX) was up 4% and Google (GOOGL) bounced back 2%.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.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.The VIX volatility index touched its highest level since February.The-CNN-Wire 2531

Thanks to our guests who continue to follow social distancing guidelines. #MaskUp #StopTheSpread pic.twitter.com/4btP7izdRG— Maid of the Mist (@maidofthemist) July 22, 2020 180

The Big Ten and Pac-12 Conferences officially announced on Tuesday that they've postponed their upcoming 2020-21 college football season, which also includes all fall sports, due to the coronavirus pandemic.Both conferences are keeping the option of playing in the spring a possibility.Pac-12 said in a press release that when conditions improve, they'll consider a return to competition for impacted sports after January 1, 2021.“All of the Pac-12 presidents and chancellors understand the importance of this decision, and the disappointment it will create for our student-athletes, the coaches, support staff, and all of our fans,” said Michael H. Schill, president of the University of Oregon. “Ultimately, our decision was guided by science and a deep commitment to the health and welfare of student-athletes. We certainly hope that the Pac-12 will be able to return to competition in the New Year.”Pac-12 Commissioner Larry Scott said that playing in a bubble wouldn't work.“Unlike professional sports, college sports cannot operate in a bubble,” he said in the news release. “Our athletic programs are a part of broader campuses in communities where in many cases the prevalence of COVID-19 is significant. We will continue to monitor the situation and when conditions change we will be ready to explore all options to play the impacted sports in the new calendar year.”In a press release, the Big Ten conference said that multiple factors, which included advice and counsel of the Big Ten Task Force, contributed to them postponing fall sports.“The mental and physical health and welfare of our student-athletes have been at the center of every decision we have made regarding the ability to proceed forward,” said Big Ten Commissioner Kevin Warren in the statement. “As time progressed and after hours of discussion with our Big Ten Task Force for Emerging Infectious Diseases and the Big Ten Sports Medicine Committee, it became abundantly clear that there was too much uncertainty regarding potential medical risks to allow our student-athletes to compete this fall."The Big Ten Conference was the first major conference to cancel fall athletics.“We know how significant the student-athlete experience can be in shaping the future of talented young women and men who compete in the Big Ten Conference," said Warren in the statement. "Although that knowledge made this a painstaking decision, it did not make it difficult. While I know our decision today will be disappointing in many ways for our thousands of student-athletes and their families, I am heartened and inspired by their resilience, their insightful and discerning thoughts, and their participation through our conversations to this point. Everyone associated with the Big Ten Conference and its member institutions is committed to getting everyone back to competition as soon as it is safe to do so.”Along with football, the Big Ten said that men’s and women’s cross country, field hockey, men’s and women’s soccer, and women’s volleyball were also canceled.“Our primary responsibility is to make the best possible decisions in the interest of our students, faculty, and staff,” said Morton Schapiro, Chair of the Big Ten Council of Presidents/Chancellors and Northwestern University President.The Big Ten hopes to play football in the spring. 3325

SYMMES TOWNSHIP, Ohio -- An Ohio man on Thursday kidnapped an 84-year-old woman at knifepoint, stole money from her and forced her to chauffeur him to a drug deal, according to a news release from the Hamilton County Sheriff's Office.Hamilton County Sheriff Jim Neil said authorities believe Brent Engel, 31, cornered and threatened the victim when she returned to her car after shopping at a CVS in Loveland, Ohio. Engel then forced the woman to drive to an ATM, withdraw money and drive him to purchase drugs, which he then used in the car.After five hours of ordering the victim to drive him around Hamilton County, Engel exited the vehicle and escaped, Neil said.The woman was not hurt in the incident. Engel, whose records include prior convictions for burglary, theft and drug use as well as an affiliation with a gang, now faces charges of aggravated robbery and abduction. He had not been arrested by Friday night.Neil said civilians with information about Engel's whereabouts should alert authorities immediately. Because of his gang affiliation, he “should be considered dangerous," and members of the public should not approach him. 1176

Subpoenas have been served on the Trump Organization and a dozen linked entities in a lawsuit challenging President Donald Trump's ongoing business ties while in office.The office of District of Columbia Attorney General Karl Racine said Wednesday that it "can confirm that all of the Trump Organization entities have been served." Additionally, subpoenas are being served to the state of Maine, the attorney general's office said.The lawsuit by DC and Maryland claims Trump is in violation of the Constitution's ban on emoluments, or payments, from foreign or domestic government entities to the President because of his continued interest in the Trump International Hotel.DC and Maryland have said the Trump International Hotel's operations put other nearby hotels and entertainment properties at a competitive disadvantage, and that the Trump hotel got special tax concessions. The hotel won its lease on federally owned property before Trump's election.A federal judge set in motion the schedule for DC and Maryland attorneys general to begin collecting evidence in the case. The plaintiffs say they also plan to subpoena 18 entities that compete with the Trump Hotel.The Justice Department has signaled it may challenge the evidence-gathering process.The case is proceeding just as the Trump Organization prepares for a flurry of investigations from House Democrats once they take control of Congress in January.The Trump Organization has not responded to requests for comment on the case. 1532

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