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Following President Donald Trump's rally in West Virginia on Tuesday evening, Aerosmith's frontman Steven Tyler was not pleased that the president used an Aerosmith song before the rally. On Wednesday, a rep for Tyler sent Trump a cease and desist letter to stop using Tyler's music during rallies, according to a copy of the letter obtained by CNN reporter Jim Acosta. The letter was filed by the LaPolt Law firm in West Hollywood, Calif. “By using ‘Livin’ On The Edge’ without our client’s permission, Mr. Trump is falsely implying that our client, once again, endorses his campaign and/or his presidency, as evidenced by actual confusion seen from the reactions of our client’s fans all over social media,” the letter stated.The letter indicates that Aerosmith has previously sent Trump orders to stop using the band's music. On Tuesday, "Livin' On The Edge" was played before the president appeared on stage. “What makes this violation even more egregious is that Mr. Trump’s use of our client’s music was previously shut down, not once, but two times, during his campaign for presidency,” the letter states.Tyler is not the only artist who has sent Trump a letter ordering him to stop playing their music at rallies. For instance, during the 2016 Republican National Convention, Queen asked for Trump and RNC to stop playing its music. 1374
First Lady Melania Trump did not visit her husband, President Trump, over the weekend as he is getting treatment at Walter Reed Medical Center and has no plans to, according to multiple reports.A spokesperson for the first lady said she is remaining at the White House executive residence in quarantine after her own COVID-19 diagnosis early Friday morning."Melania is aware of the dangers of COVID-19," the official told CNN. "Potentially exposing others is not a risk she would take."In another response to the question of First Lady Trump visiting her husband at Walter Reed, an official said “that would expose the agents who would drive her there and the medical staff who would walk her up to him,” according to NBC News.The reaction from the First Lady is drawing a comparison to the president's reaction. On Sunday, President Trump and a few members of Secret Service, all wearing masks, drove around the Walter Reed facility to see supporters waiting outside. Monday morning, the First Lady tweeted she was “feeling good (and) will continue to rest at home.” 1075

Former Senate Majority Leader Harry Reid, a Nevada Democrat, underwent surgery for pancreatic cancer Monday, according to a statement from Reid's family."Today, Former Democratic Leader Harry Reid underwent surgery at Johns Hopkins Cancer Center to remove a tumor from his pancreas," the family's statement said. "His doctors caught the problem early during a routine screening and his surgeons are confident that the surgery was a success and that the prognosis for his recovery is good. He will undergo chemotherapy as the next step in his treatment. He is now out of surgery, in good spirits and resting with his family. He is grateful to his highly skilled team of doctors and to all who have sent and continue to send their love and support."The news of Reid's cancer was first reported by a reporter at local station KLAS, a CNN affiliate.Reid, who was first elected to the Senate in 1986, retired at the end of his term?in early 2017, when he was Senate minority leader.Sen. Chuck Schumer, a New York Democrat who succeeded Reid as minority leader, tweeted shortly after the news broke."Spoken to family and it seems @SenatorReid's operation went well. We are all praying for dear Harry's speedy recovery," he tweeted. 1248
For those would-be investors wanting to jump into the stock market but wondering which stock to buy, legendary investor Warren Buffett has a suggestion: Try buying 500 stocks instead.“In my view, for most people, the best thing to do is own the S&P 500 index fund,” Buffett said at Berkshire Hathaway’s annual meeting in May. But what is the S&P 500, and how do you invest in one of its funds?Here’s an intro to how S&P 500 funds work, and whether one might be a good fit for your portfolio.What is the S&P 500?The S&P 500, or S&P, is a stock market index comprising shares of 500 large, industry-leading U.S. companies. It is widely followed and often considered a proxy for the overall health of the U.S. stock market.Standard & Poor’s, an American investment information service, created the index in 1957. Every quarter, its investment committee meets to review which stocks belong in the index based on each company’s market size, liquidity and group representation. Today, 505 stocks constitute the index, since some of the 500 companies have more than one class of shares.Contrary to popular belief, the stocks forming the index are not the 500 biggest U.S. companies, but they are arguably the 500 most important companies. Over .2 trillion is invested through the index, with these 505 stocks representing about 80% of the total U.S. stock market’s value.The S&P 500 is a cap-weighted index, meaning each stock within the index is weighted according to its market capitalization, or total market value (number of outstanding shares multiplied by current market price). The larger the company, the greater its influence on the index.As of Aug. 31, 2020, these are the top 10 companies by index weight in the S&P 500:Apple.Microsoft.Amazon.Facebook.Alphabet, Google’s parent company (shares in classes A and C).Berkshire Hathaway.Johnson & Johnson.Visa.Procter & Gamble.How do you invest in the S&P 500?An index is a measure of its underlying stocks’ performance, so you cannot directly invest in the index itself. Buying every company’s shares would be an arduous task (think 505 separate transactions), but thankfully there are index funds and exchange-traded funds, or ETFs, that replicate the index, effectively doing that work for you.While all S&P 500 funds track the holdings of this index, an investor must consider whether using an index fund (a passively managed mutual fund) or an ETF makes the most sense for them. The good news when weighing index funds versus ETFs is that there are solid S&P 500 options in each category, and all of these products leverage the diversity of the index itself.Because the S&P 500 is weighted by each company’s market capitalization, the larger companies in the index can sometimes have an outsize impact on the performance of the larger index. In other words, a big dip in price for Apple shares can create a dip in the index as a whole. Because of this, some investors prefer to purchase the S&P 500 in an equal-weighted format, so that each company has the same impact on the index. This is meant to create an index that is more representative of the overall U.S. market.After deciding your preference for an index fund or ETF, cap-weighted or equal-weighted, you can begin narrowing down which S&P 500 fund to purchase. To minimize your costs, look into each fund’s expense ratio — the percentage of your assets you’ll pay in fees each year — to see how they compare.Fees are important here since all of these funds track the same index, which means their returns should be roughly the same. The lower the fee, the more of that return you keep.Should you invest in the S&P 500?There are a number of things to think about before you choose any investment. But an S&P fund can generally be a good choice if you want to add broad exposure to the U.S. stock market to your portfolio.“The S&P 500 is a key part of a diversified investing strategy because it’s a good bet that the U.S. economy will continue to succeed and grow in the long term,” says Tony Molina, senior product manager at Wealthfront. The U.S. has the largest economy and stock market in the world, and is one of the most resilient and active, especially when it comes to innovation. That’s why it’s a no-brainer to include the S&P 500 as part of your portfolio.”Larger companies are generally more stable to invest in because they are well-established and widely followed. Thus, these stocks usually have less risk and lower volatility. The S&P 500 combines large companies across various industries, so investors access a broad, diversified mix of companies when investing in it.Choosing an index fund or ETF can also help investors avoid — or at least minimize — the behavioral pitfalls from stock-picking, which is a losing strategy, says Dejan Ilijevski, president of Sabela Capital Markets.Ilijevski cites the May 2018 study by professor Hendrik Bessembinder at Arizona State University, which examined investments in publicly traded U.S. stocks between 1926 and 2016 and found that just over 4% of the companies accounted for the total wealth created.“Picking those few individual winners is impossible,” Ilijevski says. “Your best bet is to own as much of the market with a fund that tracks the index.”Using index funds and ETFs can help investors generate strong returns while also minimizing their costs, says Kevin Koehler, chartered financial analyst and director of the investment strategy group at Miracle Mile Advisors in Los Angeles.“Investing in the S&P 500 the past 25 years would have given an investor over a 10% annualized return, proving that an investor does not need to be paying high expenses to get good market returns,” Koehler says.Are there drawbacks to investing in the S&P 500?There are caveats to consider. The S&P 500 consists of only large-cap U.S. stocks. Portfolio diversification encompasses buying mid- and small-cap companies along with large-caps; allocating funds to international companies along with domestic ones; and including bonds, cash and potentially other asset classes with stocks.Koehler also notes drawbacks in the S&P 500 related to its market-cap weighting.“As passive investing increases, investors are continually investing in S&P 500 funds, which has contributed to a ‘rich get richer’ problem, where the largest stocks are getting larger due to S&P 500 investing, rather than individual stock investing,” Koehler says. “This can lead to higher volatility, as active managers sell an individual stock on top of index funds selling a portion. The market could continuously be overvalued compared to its underlying value.”But relative to the downsides of many investment types, the flaws of S&P 500 funds seem relatively minor, especially when used as a part of your overall portfolio and held for the longer term. This helps explain why icons like Buffett have so publicly endorsed them.“I happen to believe that Berkshire is about as solid as any single investment can be, in terms of earning reasonable returns over time,” said Buffett at the May meeting, speaking about the investing company he’s turned into an empire. “But, I would not want to bet my life on whether we beat the S&P 500 over the next 10 years.”More From NerdWallet4 Ways Women Can Invest in Other WomenHow the Pros Ride Market Volatility — and Why You Shouldn’tIf Doing Less Means Saving More, Try These 5 Money MovesTiffany Lam-Balfour is a writer at NerdWallet. Email: tlambalfour@nerdwallet.com. 7573
Following the FBI's admission that it failed to properly act on a tip on Jan. 5 about the man who killed 17 people at a Florida high school, Governor Rick Scott called for FBI Director Christopher Wray to resign."We constantly promote 'see something, say something,' and a courageous person did just that to the FBI. And the FBI failed to act," Scott said in a statement. "'See something, say something' is an incredibly important tool and people must have confidence in the follow through from law enforcement. The FBI Director needs to resign."Read Scott's full statement below.Today, Governor Rick Scott made the following statement regarding the FBI’s admission that they failed to take action after receiving information on January 5, 2018, regarding “[Nikolas] Cruz’s gun ownership, desire to kill people, erratic behavior, and disturbing social media posts, as well as the potential of him conducting a school shooting.”Governor Scott said, “The FBI’s failure to take action against this killer is unacceptable. The FBI has admitted that they were contacted last month by a person who called to inform them of Cruz’s ‘desire to kill people,’ and ‘the potential of him conducting a school shooting.’“Seventeen innocent people are dead and acknowledging a mistake isn’t going to cut it. An apology will never bring these 17 Floridians back to life or comfort the families who are in pain. The families will spend a lifetime wondering how this could happen, and an apology will never give them the answers they desperately need.“We constantly promote ‘see something, say something,’ and a courageous person did just that to the FBI. And the FBI failed to act. ‘See something, say something’ is an incredibly important tool and people must have confidence in the follow through from law enforcement. The FBI Director needs to resign.”Nikolas Cruz, who has confessed to police to being the shooter, showed patterns of racism online and also promised to harm people with assault rifles. 2000
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