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The stock market is on the comeback trail.After another wobbly session, the Dow soared 287 points, or 1.2%, on Friday. It was the index's best day since August.The Dow had soared 400 points at the open before giving up most of those gains and then resuming its rally. The Dow lost 1,378 points over Wednesday and Thursday.The broader S&P 500 jumped 1.4% on Friday. The Nasdaq, which has taken the brunt of the recent stock market turbulence, spiked 2.3%.Despite Friday's rebound, all three major indexes suffered their worst weeks since March. And the S&P 500 is down three straight weeks. That hasn't happened since the Brexit referendum of June 2016.Investing experts weren't exactly sure what turned stocks negative by midday. The driving forces behind this week's downturn -- trade war and interest rate fears -- were around before this week, and yet market volatility is spiking."The sellers have control right now," said Justin Walters, co-founder of Bespoke Investment Group. "The scariest sell-offs are the ones you can't tie to a specific reason."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."What we are seeing now is changing sands. The ground isn't stable and people are figuring out where to go next," said JJ Kinahan, chief market strategist with TD Ameritrade.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 regained some of its losses. Facebook (FB), Apple (AAPL), Amazon (AMZN), Netflix (NFLX) and Google (GOOGL) were all up.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.Markets had bounced back Friday morning following news that President Donald Trump plans to meet next month with Chinese leader Xi Jinping at the G-20 summit. That eased some of the investors' fears about another trade war escalation. China also 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 summer.But Kinahan is still worried about US-China trade talks. He thinks that a deal is key in order for the markets to get back on track, adding that a full-blown trade war could undo much of the positives from the Trump administration's pro-business policies."The concern is that if nobody blinks, it could negate all the tax cuts we had," he said.Earnings season also kicked off Friday morning, with JPMorgan (JPM) and Citigroup (C) reporting their quarterly finances before the bell. Wall Street analysts expected the financial sector 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.Rebounds after disastrous market selloffs are common. Investors who think the market may be oversold look to buy stocks they think are suddenly cheap.But markets are fickle. 3804
The UK will expel 23 Russian diplomats from the country after concluding that the Russian state is responsible for the attempted murder of former Russian spy Sergei Skripal and his daughter Yulia in the English city of Salisbury.This will be the single biggest expulsion of Russian diplomats in over 30 years, Prime Minister Theresa May said Wednesday. The 23 concerned, who May said had been identified as undeclared intelligence agents, will have only one week to leave."For those who seek to do us harm, my message is simple. You are not welcome here," she said in a statement to the House of Commons following a meeting of Britain's National Security Council.The expulsion of diplomats will "fundamentally degrade" Russian intelligence capabilities in Britain for years, May said.The Skripals are critically ill in hospital after being exposed to the nerve agent, known as Novichok and developed in Russia, on March 4. Thirty-eight other people in Salisbury were seen by medics after the exposure. One, a police officer, remains hospitalized.May said Monday it was highly likely that Moscow was behind the poisoning. The Russian ambassador to the UK was summoned to the UK Foreign Office to explain whether the attack was directed by Russian authorities, or whether Moscow had lost control of the nerve agent.She demanded that Moscow respond by midnight Tuesday, London time, to the UK government's conclusion that Russia was linked to the poisoning of Sergei Skripal and his daughter Yulia on a park bench in Salisbury in southern England.But Moscow -- which has repeatedly dismissed any accusations of involvement in the attack -- ignored the deadline. 1672
The Senate Intelligence Committee voted 10-5 closed doors Wednesday to advance Gina Haspel's nomination as President Donald Trump's CIA director pick, advancing the nominee to a full floor vote where she looks all but assured to win Senate confirmation.Two of the committee's seven Democrats have said they are supporting Haspel, including Virginia's Sen. Mark Warner, the top Democrat on the panel. Haspel currently has more than enough support to win confirmation, as Warner was one of three Democrats to announce Tuesday that they were voting for her, bringing the total to five. 602
The subject of the hit podcast “Serial” could be days away from hearing whether he’ll receive a new trial.On Saturday, Adnan Syed's defense attorney Justin Brown tweeted that he's expecting a ruling from the Maryland Court of Special Appeals in the coming week.I expect a ruling from the appeals court this coming week. #FreeAdnan https://t.co/0eQmLaaxFn— Justin Brown (@CJBrownLaw) February 25, 2018 408
The U.S. Postal Service has announced its holiday shipping deadlines as we approach a holiday season like none in our lifetime.Delivering cards and gifts through the mail may be more important than ever this year because many people will refrain from visiting loved ones to prevent the spread of the novel coronavirus.The Postal Service says you can you rely on them to deliver your parcels to family and friends, whether they’re overseas, across the country or just on the other side of town.USPS officials recommend the following mailing and shipping deadlines for expected delivery by Christmas Day to domestic addresses and Air/Army Post Office/Fleet Post Office/Diplomatic Post Office addresses:Nov. 6 — APO/FPO/DPO (all ZIP Codes) USPS Retail Ground serviceDec. 9 — APO/FPO/DPO (ZIP Code 093 only) Priority Mail and First-Class MailDec. 11 — APO/FPO/DPO (all other ZIP Codes) Priority Mail and First-Class Mail servicesDec. 15 — USPS Retail Ground serviceDec. 18 — APO/FPO/DPO (except ZIP Code 093) USPS Priority Mail Express serviceDec. 18 — First-Class Mail service (including greeting cards)Dec. 18 — First-class packages (up to 15.99 ounces)Dec. 19 — Priority Mail serviceDec. 23 — Priority Mail Express* serviceUSPS also suggests skipping the trip to your post office and using their online tools to ship your items.The Postal Service anticipates Dec. 14 will be its busiest day online with more than 13 million consumers predicted to visit usps.com for help shipping things. Officials estimate nearly 500,000 consumers will use their Click-N-Ship feature and other online services on that day to order Priority Mail boxes, print shipping labels, purchase postage and even request free next-day package pickup.The Postal Service has offered these tips for a successful holiday mailing and shipping season:Use free Priority Mail Flat Rate boxes. They are available at local Post Offices or online at usps.com/freeboxes.Make it easy with Click-N-Ship. You can create shipping labels and pay for postage online at usps.com/ship.Schedule a free Package Pickup when the carrier delivers your mail. It’s free regardless of the number of packages. Or, pickups can be scheduled at usps.com/pickup.Mail and packages that weigh more than 10 ounces and/or are more than a half-inch thick using stamps as postage cannot be dropped into a collection box or left for a carrier to pick up. Instead, take them to a window clerk at a Post Office. 2448