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The Supreme Court has ruled that LGBTQ employees are protected under federal employment discrimination laws in a landmark decision.The court ruled 6-3 in favor of granting protection from discrimination to LGBT workers, with conservatives Chief Justice John Roberts and Justice Neil Gorsuch siding with the majority.According to the ruling, Title VII of the Civil Rights Act of 1964 that prohibits discriminating against workers on the basis of sex also applies to gay, lesbian, transgender people.“An employer who fires an individual for being homosexual or transgender fires that person for traits or actions it would not have questioned in members of a different sex,” Justice Neil Gorsuch wrote in the opinion. “Sex plays a necessary and undisguisable role in the decision, exactly what Title VII forbids.”Justice Samuel Alito wrote the dissenting argument.The case Bostock vs. Clayton County, Georgia entered around a Georgia man, Gerald Bostock, who claimed he was fired for "unbecoming" conduct from his job with Clayton, County, Georgia, after he began participating in a gay softball league.The decision also ruled in favor of Aimee Stephens in the case R.G. & G.R. Harris Funeral Homes Inc. v. Equal Employment Opportunity Commission. Stephens, a trans woman, was fired from her job at a Michigan funeral home when she expressed her desire to live full time as a woman. 1391
The stock market is still sinking but the selling frenzy has eased just a bit.The Dow opened down about 100 points on Thursday morning, rebounding from sharp overnight losses. The Nasdaq started positive before slipping back into the red. The S&P 500 lost about 0.6%.Wall Street is attempting to recover from Wednesday's plunge, which wiped 832 points off the Dow. The Nasdaq in particular has gotten rocked in recent days. Investors have bolted from the index, which contains many tech stocks, because they are concerned about holding some of the market's riskiest stocks in a downturn. A proxy for the tech sector had its sharpest plunge in seven years on Wednesday.The S&P 500 was on pace for its sixth-straight decline, something that hasn't happened since just before President Donald Trump's election nearly two years ago. And the Nasdaq has already plunged 8% this month."Halloween started early this month for investors," Ed Yardeni, president of investment advisory firm Yardeni Research, wrote to clients.Concerns about inflation were eased a bit by a report released on Thursday that showed consumer prices rose in September less than feared.Still, tech stocks including Amazon and Apple lost ground in early trading. Square (SQ) slumped 6% after announcing the departure of its chief financial officer. But other tech stocks showed signs of life. Netflix and Twitter were trading flat to slightly higher.Stocks have turned sharply south because investors are increasingly concerned about rising interest rates. As the Federal Reserve raises rates to prevent runaway inflation, 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. America's increasing debt load, a trade war with China and a slowing global economy have also unnerved investors.Wednesday's "rout has shaken investor confidence," Nicholas Colas, co-founder of DataTrek Research, wrote to clients. "That will take time to rebuild."The Dow plunged 832 points, or 3.2%, on Wednesday. Tech stocks took a beating, sending the Nasdaq tumbling 4% — its worst day since the Brexit referendum of June 2016.That dragged down stock indexes in the United Kingdom, Germany and France on Thursday, all of which fell more than 1%. Benchmark indexes in Shanghai and Tokyo closed down 5.2% and almost 4%, respectively. Hong Kong's market was down over 3%.The S&P 500's 3% plunge on Wednesday was rare. It's only happened in 0.6% of all trading days since 1952, according to Bespoke Investment Group.The good news is that the market often springs back to life after such a deep sell-off. Bargain hunters scoop up beaten-down stocks and calmer heads prevail. On average, the S&P 500 has gained 0.4% the day after a 3% slide, Bespoke said.That's what happened in February after the S&P 500 twice suffered 3% drops caused by fears about rising bond yields. Both sell-offs were followed by rebounds of more than 1% the next day.But Yardeni is optimistic the market will rebound because corporate profits are robust and no recession is in sight."We remain bullish on the outlook for earnings, and expect the market to recover and make new highs going into next year," Yardeni wrote.The-CNN-Wire 3435
The Republican National Committee has withdrawn from a joint fundraising agreement with Roy Moore, according to a Federal Election Commission filing posted Tuesday, as the GOP establishment continues to break ties with the Alabama Senate candidate.The National Republican Senatorial Committee was the first to drop itself from the agreement, which benefits Moore's campaign, ending its participation last Friday, according to FEC filings. 466
The service academy game between Air Force and Army scheduled for Saturday at West Point, New York, was postponed Thursday due to an increase in COVID-19 cases at the Air Force Academy and the surrounding community."We are disappointed to postpone this game, but the health and safety of our cadets, staff, and the community continues to be our No. 1 priority at the Academy," Air Force Falcons Director of Athletics Nathan Pine said in a press release. "Due to the upward trends in our COVID numbers across the campus, we have paused all intercollegiate team activities."The Falcons can win the Commander-in-Chief’s Trophy with a win over Army. Air Force began the round-robin competition between the service academies with a 40-7 win over Navy on Oct. 3.The winning academy goes to the White House to receive the coveted trophy from the President.According to The Athletic's Stewart Mandel, this marks the seventh college football game this week to be postponed or canceled due to COVID.The schools are working to reschedule the game. 1044
The White House on Wednesday downplayed comments by national security adviser John Bolton, who recently invoked Libya's decision to denuclearize during the Bush administration as a model for US policy on North Korea, potentially placing a planned US-North Korea summit in jeopardy.Hours earlier, a North Korean official said Bolton's remarks were indicative of an "awfully sinister move" to imperil the Kim regime. North Korea stunned Washington on Tuesday by threatening to abandon talks between President Donald Trump and Kim Jong Un if Washington insists on pushing it "into a corner" on nuclear disarmament.Referring to the Libya comparison, White House press secretary Sarah Sanders said Wednesday that she hadn't "seen that as part of any discussions so I'm not aware that that's a model that we're using."I haven't seen that that's a specific thing. I know that that comment was made. There's not a cookie cutter model on how this would work."She continued, "This is the President Trump model. He's going to run this the way he sees fit. We're 100% confident, as we've said many times before, as I'm sure you're all aware, he's the best negotiator and we're very confident on that front."In April, Bolton suggested that the White House was looking at Libya as an example of how it will handle negotiations with North Korea to denuclearize."We have very much in mind the Libya model from 2003, 2004," Bolton said on Fox News. "There are obviously differences. The Libyan program was much smaller. But that was basically the agreement that we made."The US agreed to ease sanctions on Libya in 2003 in exchange for a promise by Moammar Gadhafi to abandon his country's nuclear program. Eight years later, however, Gadhafi was overthrown and killed by rebels backed by Washington.In a statement published late Tuesday by the state-run Korea Central News Agency, Kim Kye Gwan, North Korea's first vice minister of the Ministry of Foreign Affairs, called Bolton's comments indicative of "an awfully sinister move to impose on our dignified state the destiny of Libya or Iraq which had been collapsed due to yielding the whole of their countries to big powers.""It is absolutely absurd to dare compare (North Korea), a nuclear weapon state, to Libya which had been at the initial stage of nuclear development," Kim said. "(The) world knows too well that our country is neither Libya nor Iraq which have met miserable fate."Singling out the national security adviser for personal criticism, Kim said that North Korea had "shed light on the quality of (John) Bolton already in the past, and we do not hide our feeling of repugnance towards him." 2657