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Stocks went into reverse just before lunchtime on Wall Street Monday. But nobody could figure out why.There weren't any major earnings or economic reports that came out. Yes, there was a big drop in construction spending for December. But it was largely expected. And it was an "old" report whose release was delayed by the government shutdown.Still, the Dow, which was up as much as 130 points shortly after the market opened, was down 400 points by mid-afternoon before cutting those losses nearly in half. The Dow finished the day with a 207-point drop.Boeing, the biggest component of the Dow and the best stock in the blue chip average so far this year, was one of the worst performers, falling nearly 2%. UnitedHealth, McDonald's, Walgreens, Verizon and Nike were among the biggest drags on the Dow too.Paul Nolte, a portfolio manager with Kingsview Asset Management, told CNN Business that he thinks investors are growing tired of talk about an imminent agreement on a trade deal between the United States and China and want more specifics."This is, what the 38th time, that we are 'close' to a trade deal?" Nolte quipped. "You can only cry wolf so many times. We need something more tangible than we're close."Mike O'Rourke, chief market strategist with JonesTrading, told CNN Business he agreed. He said investors may simply be looking for an excuse to sell considering that the Dow, S&P 500 and Nasdaq are all sporting double-digit percentage gains this year."We've gone up sharply on the potential for a deal. But now that the finish line is in sight people are selling the news," O'Rourke said, adding that a pullback is healthy since the"behavior of the past couple of months was atypical."Market slide is much ado about nothingBut Steve Chiavarone, global allocation portfolio manager and equity strategist with Federated Investors, said the sharp pullback Monday is puzzling because most of the economic headlines are still good. He said Monday's sell-off was merely "noise."He pointed out that bond yields have pulled back now that it looks like the Federal Reserve is not going to raise rates again this year. Earnings for the fourth quarter were mostly solid. And if the trade war does end, then the profit picture could improve further.What's more, economists are expecting another solid month of jobs growth when the employment report for February is released Friday.Others argued that investors are just growing nervous for technical reasons, namely that some of the major market indexes have recently topped round number milestones, such as the Dow crossing 26,000 and the S&P 500 passing 2,800."We've tested some of those October and November highs," said William Delwiche, investment strategist with Baird. "It's purely technical and that's probably why we started to see a little loss of momentum."But William Lynch, director of investments at Hinsdale Associates, summed up the mystifying midday move down best."I have no idea why stocks fell. I don't have a clue. I'm as perplexed as you are," he said.Sometimes stocks just go down, especially after they've enjoyed a strong run. It's as simple as that.The-CNN-Wire? & ? 2019 Cable News Network, Inc., a Time Warner Company. All rights reserved. 3246
SYRACUSE, N.Y. – A 95-year-old woman’s birthday party had to be canceled because of the coronavirus pandemic, but it didn’t stop her family from celebrating the milestone. The Syracuse, New York family had been planning Kathleen Byrne's party for months and relatives from across the country were set to attend the bash, but her health was more important. However, the family couldn’t let Kathleen’s birth go uncelebrated, so they brought the party to her front door and sang her “Happy Birthday” at a safe distance. “We had to keep our distance, but we couldn’t not see our best girl on her birthday!!!” wrote Sara Byrne, one of Kathleen’s granddaughters in an Instagram video that has now gone viral. In the video, family members and even some dogs are seen lined up in Kathleen’s yard with signs, serenading the grandmother of 22 grandchildren and 29 great-grandchildren.“I’m sorry we’re not all together, but you’re all altogether,” Kathleen can be heard saying in the video. At 95 years old, Kathleen is in an age group that is at a high risk of “severe illness” from the coronavirus, according to the 1119
Should you eat before or after exercise in the morning? The debate has raged for years.The eat-first camp says food before exercise boosts blood sugars, giving the body fuel to increase the intensity and length of a workout. It also keeps you from being fatigued or dizzy.The eat-after camp says you burn more fat if you fast before exercise.A small UK study published Friday supports the latter point of view: In 30 obese or overweight men, those who exercised before breakfast burned twice the fat as men who ate breakfast before they worked out.That's because exercising with no fuel forces the body to turn to stored carbs, and when those are quickly gone, to fat cells.Unfortunately the eat-after group didn't lose more weight than the eat-before group during the six weeks of the study, but it did have "profound and positive" effects on the health of the group that fasted, researchers said.Skipping the meal before exercise made the men's muscles more responsive to insulin, which controls high blood sugars, thus reducing the risk for diabetes and heart disease."The group who exercised before breakfast increased their ability to respond to insulin, which is all the more remarkable given that both exercise groups lost a similar amount of weight and both gained a similar amount of fitness," said exercise physiologist Javier Gonzalez, an associate professor in the department for health at the University of Bath, in a statement."The only difference was the timing of the food intake," Gonzalez added.A 1527
SURPRISE, Ariz. — LaRissa Waln's been waiting for the day she'd get to walk across the stage and receive her high school diploma, but she might not get the chance. The 17-year-old attends Valley Vista High School in Surprise, Arizona, and says she started decorating her cap for the ceremony more than a week ago. But just this week, school administrators said caps had to remain blank. "If I do wear it, I won't be able to walk," Waln said. Her cap though has a special meaning. Waln's father helped create the design, a tribute to their Native American culture. The cap is adorned with intricate beadwork that represents the Wahpeton Sioux tribe. "It means everything to me, to be a part of it in any way possible," she added. "We did pay for the cap and gown out of our own pockets, and we should have the right to decorate it." Administrators said it wasn't a school policy though; it's enforced district-wide. Here's Dysart Unified School District's full statement: “The Dysart Unified School District understands that graduation is an exciting time for students, and our goal is to ensure each student is appropriately recognized for successfully graduating high school. We respect the formality of our graduations and believe that decorated caps take away from the purpose of the ceremony, calling unnecessary attention to individual students. Only school-approved regalia, which is typically academic in nature, are allowed to adorn the gown. We appreciate the desire of students to honor cultural traditions, and there are many ways to do so beyond decorating a graduation cap.”Waln says she and her father have tried meeting with administrators about the issue, even asking for a written copy of the policy, but say neither the school nor the district has provided one. She also found no policies on graduation caps in the school's handbook. "I worked four years for this," Waln said. "I'll always stick with my culture no matter what. If it means I can't walk at graduation, then I guess I won't walk. But I will be there." 2046
TAMPA, Fla. — American Honda is recalling about 200,000 portable generators because they may leak gasoline from the fuel valve, posing fire and burn hazards. Honda has received more than a dozen reports of leaking valves, but no injuries have been reported. The generators were sold at authorized Honda Power Equipment Dealers, The Home Depot and other home improvement stores nationwide and online from February 2018 through February 2019 for about ,100 to ,300.This recall involves Honda EU2200i, EU2200i Companion and EB2200i portable generators. The recalled portable generators were sold with a red or Camo cover. The names “HONDA” and the generator model name are printed on the control panel. The serial number is located on a lower corner of one of the side panels of the generator.The following model numbers and serial number ranges are being recalled:ModelSTART SERIAL NUMBER END SERIAL NUMBEREB2200iTAEAJT-1000001 EAJT-1005474EU2200iTAEU2200iTA1EU2200iTA2EAMT-1000001 EAMT-1260796 1024