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Why are stocks falling again? President Donald Trump says it's because Democrats are gearing up to use their impending control of the House of Representatives to investigate him. As always, when it comes to the markets, the real answer is complicated.The Dow fell by more than 600 points on Monday, dragged down by investors' concerns about the tech sector and the rising dollar. The Nasdaq fell 2% and the broader S&P 500 fell 1.2%.Apple (AAPL) fell 5% after supplier Lumentum cut its earnings and sales forecast because of weak demand, and JPMorgan cut its target price on Apple's stock. That weighed on other technology stocks, including Amazon (AMZN) and Tesla (TSLA) -- down 4% -- as well as Facebook, which fell 3%. Google (GOOGL), Netflix (NFLX) and Microsoft (MSFT) were all down more than 2%.The strong dollar also weighed on stocks. The US currency surged to a 16-month high because investors fear the European economy could stall if no Brexit deal is reached this week. Prospects of another rate hike from the Fed next month have also helped lift the dollar. The rising dollar is a signal of a strong economy, but it hurts sales and profits for American companies that do business overseas.Though Trump blamed Democrats for the drop, the Dow had actually bounced back since the midterms, rising last week in its best showing since March. Wall Street tends to like stagnation in Washington, so investors are actually just fine with Democrats taking the House.As for what Trump termed the "prospect of presidential harassment," there is not much evidence the stock market will bat an eye if Democratic leaders in the House begin investigations into the Trump administration. Stocks rose before, during and after President Bill Clinton's impeachment. 1800
When Mahdi Hashemian was looking for a bicycle for his 7-year-old daughter Zeynab last week, the Cambridge, Massachusetts, resident decided to skip his local cycle shops in favor of a Black-owned one a few miles away in Boston’s Dorchester neighborhood.At Spokehouse, a bike shop with “Black Lives Matter” painted in large bold letters outside, the pair picked out a simple, white-colored model and had training wheels and a white basket for its handlebars installed.Hashemian, who is set to earn his doctorate from MIT, said he’s been reminded in recent weeks of the outpouring of support he felt from the campus community when President Donald Trump imposed a ban on travelers from Muslim majority countries in 2017, including his native Iran.“It seems small,” he said of his bike purchase, “but a little show of support can mean a lot.”As the May killing of George Floyd by a white police officer in Minneapolis has fueled a worldwide outcry against racism and police brutality, many on social media are encouraging people to spend their money at Black-owned businesses. Lists of local retailers, artisans and manufacturers have been circulating on Instagram, Facebook and Twitter, helping Black-owned businesses raise their profile at a time when the coronavirus pandemic has ravaged the economy.According to Google, searches for “Black owned businesses near me” reached an all-time high last month in the U.S. Yelp has also made it easier for customers to search for Black-owned establishments on the restaurant review site, and Uber Eats says it’ll waive delivery fees for purchases from Black-owned restaurants through the end of the year.“It’s great seeing people realize that where they shop can be another form of activism, that it’s a way to put your money where your mouth is,” said Randy Williams, founder of Talley & Twine, a Black-owned watch company in Portsmouth, Virginia. “You’re helping Black businesses become self-sustaining, and that helps the whole ecosystem.”Sales at Talley & Twine these past few months are up more than 300% from the same period last year, partly because more people are shopping online during the pandemic, he said. But the company was also recently mentioned on a number of social media lists of Black-owned businesses, and its Juneteenth-themed watch sold out before the June 19 holiday commemorating the emancipation of enslaved African Americans, Williams said.In Los Angeles, cupcake sales and shipping orders on other sweets are up at Southern Girl Desserts after it was also mentioned on social media lists, said Catarah Coleman, co-owner of the bakery in the city’s Baldwin Hills neighborhood.“It’s not nearly the level of business we had before the virus, but it’s something,” she said. “If we only depended on foot traffic and folks just stayed in their own neighborhoods, I’m not sure we’d be able to keep going.”At Slade’s Bar and Grill in Boston’s historically Black Roxbury neighborhood, online gift card purchases and take-out orders are up significantly as the long running soul food and live music venue — which boasted Malcolm X, Muhammad Ali and Martin Luther King, Jr. as patrons in its heyday — is just starting to reopen after shuttering during the pandemic, said Shawn Hunter, the managing partner.“We’re definitely seeing white customers and customers from outside the neighborhood that we would probably have never seen before,” Hunter said.In nearby Dorchester, Kerri Thibodeau said she drove about half an hour from suburban Stoughton to shop at Pure Oasis, the state’s lone Black-owned retail marijuana shop and one of the few in the nation.The 35-year-old mother of two, who is white, said there’s a marijuana shop about five minutes from her house but she decided to support Pure Oasis after hearing that more than 0,000 worth of marijuana products were stolen from the shop during a large Black Lives Matter protest through Boston last month.“We really need to come together and show that it doesn’t matter the color of our skin,” Thibodeau said after buying some marijuana flower and pre-rolled joints last week.But the business boon hasn’t been without growing pains for some companies. Black-owned bookstores have struggled to keep up with a surge in orders, many of them for a handful of sold-out titles on race relations.In Boston, the owners of Frugal Bookstore, the city’s only Black-owned bookshop, say customers are already seeking to cancel orders and complaining about delays and poor customer service. The Roxbury shop, which raised more than ,000 through an earlier social media campaign to help it weather the economic downturn, said in a note to customers that went viral last week that 75% of the more than 20,000 purchases it’s received are for the same 10 books.At Spokehouse, the Boston bike shop, owner Noah Hicks hopes the interest isn’t a passing fad and that it leads to more concrete efforts to address the challenges facing Black entrepreneurs, including access to capital.Hicks said his nearly five-year-old shop’s sales have tripled this month, compared to last June, in part because bike shops are enjoying brisk business during the pandemic .The shop also received about ,000 in donations after it was robbed during last month’s unrest, though Hicks ended up donating about half to efforts benefiting the local Black community, including covering the costs for a “Ride for Black Lives,” a cycling rally in Boston this past weekend.“People being intentional about their economic purchases is refreshing,” he said. ”But we also want them to help tear down the systems that make it hard for us, not just spend their dollars with us.” 5660

West Virginia is a red state, and not just in presidential politics.Just take a look at the "School Closings - At a Glance" map put out by the state Department of Education on its website.The map -- which sports different colors for delayed opens, early dismissals and closings -- is a solid red (for closings) since all 680 public schools in the state's 55 counties are closed because of the ongoing teachers' strike there.West Virginia employs nearly 20,000 classroom teachers in its public schools and has more than 277,000 students enrolled.Teachers hit the picket lines last week, demanding higher wages and better benefits. In 2016, West Virginia ranked 48th in the nation for average teacher salary, according to the National Education Association.Gov. Jim Justice signed legislation Wednesday giving teachers a pay raise, but educators said it wasn't enough and it didn't address other areas of concern like insurance and health care costs, so they went on strike. 990
When Francesca Marie McNally was born, she was the perfect baby. “Perfectly healthy. Beautiful. Very interactive,” describes her dad, Sean McNally. He and his wife Veronica were in love with their little girl. Just before she turned three months old, she started coughing. “We saw four doctors,” said Veronica. “None of the doctors we were seeing, and there were so many, really knew what it was,” said Sean.After not getting answers from their pediatrician's office and local emergency rooms, they took their baby to Children’s Hospital of Michigan in Detroit. Doctors there immediately recognized how serious the situation was. She was rushed into intensive care. She did not make it. “It is with me every day. I think about her every day. I feel that loss every day,” said Veronica. Doctors found out too late that Francesca had whooping cough and they also found out how she caught it. “I had whooping cough. I don’t know where I got it from. I look back and wish that I would have known more about the way I could have protected myself and my family,” said Veronica. Babies cannot be vaccinated against whooping cough, but doctors recommend those who care for them are. Veronica says she asked why she wasn’t told this during her pregnancy. According to medical records, on the day of her delivery, a nurse offered her the Tdap shot, which is the whooping cough vaccine. 1449
When the Trump administration required nursing homes to report their COVID-19 cases, it also promised to make the data available to residents, families and the public in a user-friendly way.But some facilities that have had coronavirus cases and deaths turn up as having none on Medicare’s COVID-19 nursing home website. Those data may be incomplete because the reporting requirements don’t reach back to the start of the pandemic. Numbers don’t necessarily portray the full picture.“The biggest thing that needs to be taken away ... is in its current form, it is really leaving consumers in the dark,” Sam Brooks, project manager for Consumer Voice, said of Medicare’s data website. Consumer Voice is a national advocacy group for improved quality in long-term care.Nursing homes are only required to provide the government with data on coronavirus cases and deaths among residents and staff as of May 8, or more than two months after the first outbreak in a U.S. facility was reported. Nursing homes have the option of full disclosure, but not all have taken it, and there is no penalty for withholding older data that may reflect poorly.The missing information from early in the pandemic leads to some puzzling results on the website.For example, a nursing home that had one of the first major reported outbreaks in the country — Life Care Center of Kirkland, Washington — shows no confirmed COVID cases and no deaths on the CMS data page.A spokesman for Life Care Centers of America, a major chain, said the company is providing the information the government requested.“We are reporting what CMS is asking us to report to them,” said Tim Killian. “We are not evading them in any way.“The Kirkland facility is now COVID-free and it has been for some time,” Killian added. The data showing no cases “is a snapshot of what is currently in the facility.”The company said its cumulative count shows 100 residents tested positive, and 34 died. “You can ask us directly and we’ll give you the exact numbers,” said Killian.But consumer advocate Brooks said that information should be on the CMS site.As it stands, the site “doesn’t tell the whole picture,” he said. “You are not going to be able to look at a home and make an informed decision.”The federal Centers for Medicare and Medicaid Services, which sets standards for nursing homes, said protecting nursing home residents is a top priority, and “transparency and information sharing has proven to be one of the keys to the battle against this pandemic.”But CMS said it lacked the legal authority to require nursing homes to disclose COVID information from before the effective date of its reporting rule in May.On Capitol Hill, there is pressure for more information.Sen. Chuck Grassley, R-Iowa, recently introduced legislation that would require nursing homes to report coronavirus cases and deaths going back to Jan. 1, a push that has bipartisan support.The estimated 1.4 million people living in some 15,500 nursing homes represent a tiny share of the U.S. population, but they have borne a disproportionate share of coronavirus deaths. Nursing homes are only now starting to emerge from a national lockdown that took effect in mid-March.According to the latest CMS figures, more than 33,000 nursing home residents have died in the pandemic. A running tally by The Associated Press, which also includes other long-term care facilities and staff as well as residents, shows more than 55,000 deaths.Depending on the total count, that translates from about one-fourth of the deaths to more than 40%, strikingly high proportions in either case.Coronavirus data for nursing homes do not appear directly on Medicare’s NursingHomeCompare website, the main portal for consumers trying to research a facility on behalf of a family member or friend. Instead, a link takes users to a different COVID-19 site that features statistics and a national nursing home locator map.Finding information on individual nursing homes via the data website can be confusing.If users type in a ZIP code or the name of a nursing home, the website’s locator map will display some small red dots near a larger marker icon, which also has a big dot in the middle.Instructions say click on one of the dots. But which one?The data is under the small red dots, not the larger locator, which instinctively draws the user’s eye.“I would click on the big dot,” said policy attorney Toby Edelman of the Center for Medicare Advocacy, which represents enrollees. “Why would I look for this thing that I can barely see?”CMS said it has received no reports related to search problems although more than 100,000 individuals accessed the site in June.The agency says it will continue to evaluate the usability of the website to ensure it meets consumer needs. 4782
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