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The erratic stock market just made a serious comeback.Fears about slowing earnings growth sent the Dow careening 549 points lower on Tuesday before the index raced back to life.By the closing bell, the Dow was only down 126 points, or 0.5%.Similarly, the Nasdaq closed down 0.4%, erasing the vast majority of a 2.6% plunge. The index also climbed out of a technical correction, a 10% decline from prior highs.The S&P 500 suffered its fifth straight loss. But the broad index finished just modestly lower after touching its weakest point in nearly four months.Market veterans saw little reason for the dramatic recovery -- other than the fact that stocks had gotten to oversold levels."It was an impressive day. We reversed on very little news," said Art Hogan, chief market strategist at B. Riley FBR.Hogan pointed to how the rebound was led by two of the most beaten-down corners of the market: homebuilders and chip makers.Stocks sold off early on Tuesday after major US companies reported gloomy results and guidance. Disappointing numbers from Caterpillar and 3M reinforced ongoing concerns about how long blockbuster profits can last, especially given tariffs and rising costs."Investors are skittish about whether we've seen a peak in earnings," said Mark Luschini, chief market strategist at Janney Capital Management. "It's a schizophrenic market environment where things that didn't matter suddenly do."It's been a scary month for investors. The Dow and Nasdaq are on track for their worst months since January 2016."The market is fragile," said Rich Guerrini, CEO of PNC Investments. "But we're telling our investors to relax. We're in a correction. I think the market does have some legs left."The CNN Business Fear & Greed Index slipped further into "extreme fear." A month ago the gauge of market sentiment was flashing "extreme greed."Wall Street was also spooked by extreme turbulence in China, the epicenter of the trade war. The Shanghai Composite dropped 2.3% overnight. The sell-off wiped out a chunk of Monday's spike, the benchmark index's best day since March 2016. 2114
The exhibition fight between former heavyweight boxing champion Mike Tyson and Roy Jones Jr. has a new date.According to a press release by Triller, the 8-round showdown was slated for Sept. 12 but has been pushed back to Nov. 28."Changing the date to November 28 will give more people the opportunity to see the biggest comeback in boxing history," Tyson said in the news release. "This temporary inconvenience will last longer than Roy Jones Jr. He better be ready, I'm coming full force."New fights on the undercard were also announced. Badou Jack will face off against Blake McKernan and Viddal Riley will take on Rashad Coulter as they join the previously-announced bout between Youtube star Jake Paul vs. former NBA player Nate Robinson."Given the enormous interest, the holiday weekend will make this historic battle an even bigger viewing event, marking the first live Pay-Per-View event brought to the world by Triller as the first of the "Triller Battles" series," Triller said in the release.The full fight card:MAIN CARDMain EventMike Tyson vs. Roy Jones Jr.8 rounds - HeavyweightFeatured Bout 2Jake Paul v. Nate Robinson6 rounds - 188lbsFeatured Bout 3Badou Jake vs. Blake McKernan8 rounds - 192lbsFeatured Bout 4Vidal Riley vs. Randy Coulter6 rounds - 210lbsUNDERCARDBout 5Jamaine Ortiz v. Jesse Garcia8 rounds - 135lbsBout 6Irvin Gonzalez vs. Edward Vasquez8 rounds - 140lbsBout 7Giuseppe Cusumano vs. Nick Jones8 rounds - HeavyweightThe event is to take place at Dignity Health Sports Park in California and the California State Athletic Commission is sanctioning the bout.The "Frontline Battle" will be available to watch on Pay-Per-View and the social media platform Triller. 1701

The country’s cybersecurity agency says the hacking campaign discovered earlier this month was “impacting” local governments, in addition to federal and state entities and businesses.In a statement this week, CISA said they are still tracking the “significant cyber incident impacting enterprise networks across federal, state, and local governments, as well as critical infrastructure entities and other private sector organizations.”However, the agency did not give specific examples or further details like how many state and local governments were impacted. The hackers were able to get access to government and business networks through the IT management company SolarWinds’s Orion software supply chain, which are used by government and private businesses. The hack was discovered this month, however officials believe it has been going on for several months.CISA says just because we are aware of the hack doesn’t mean the threat is gone. They warn the hackers have “the resources, patience, and expertise to gain access to and privileges over highly sensitive information if left unchecked. CISA urges organizations to prioritize measures to identify and address this threat.”Last week, the Cybersecurity and Infrastructure Security Agency said the hack posed a “grave threat” to security U.S. government agencies, critical infrastructure entities and private groups.CISA also said at the time the SolarWinds Orion vulnerability was not the only way that hackers were able to get into government agencies, private companies and critical infrastructures over the last several months."CISA has determined that this threat poses a grave risk to the Federal Government and state, local, tribal, and territorial governments as well as critical infrastructure entities and other private sector organizations," the alert issued by the agency said. "CISA expects that removing this threat actor from compromised environments will be highly complex and challenging for organizations."So far, several federal agencies, including the Treasury and Department of Energy, have indicated they were impacted, and Microsoft is reporting in a blog post more than 40 customers around the world appear to have been targeted in the hack.Multiple U.S. officials have implicated Russia in the hack. However, President Donald Trump has not said much about it, other than a tweet that eluded it may have been China who was responsible. 2426
The FDA has ended an emergency use authorization (EUA) order for hydroxychloroquine, saying that the agency has determined that drug is "unlikely to be effective in treating COVID-19."In the announcement, the agency said that the benefits of hydroxychloroquine and a related drug, chloroquine phosphate, "no longer outweigh the known and potential risks for the authorized use."The FDA issued the EUA for the drug in March. In April, the FDA warned that the drug should only be used in hospital settings due to the severe side effects some experienced while taking the drug.Shortly after the coronavirus arrived in the United States, President Donald Trump touted the drug as a potential treatment for the disease. He encouraged those sickened with the virus to take the drugs, saying, "what do you have to lose?"Trump said he took the drug for a few weeks in May as several White House staffers contracted the virus. In an open letter, White House physician Sean Conley said he prescribed the drugs after determining that the "potential benefit from treatment outweighed the relative risks."Earlier this month, a study showed that the drug was likely not effective in treating COVID-19. That study was published just days after a separate study — which determined that people who took the drugs died at a higher rate than those who did not take the drugs — was retracted by three of its authors. 1404
The Democratic National Committee is eyeing eight American cities for its 2020 Democratic National Convention, a party official tells CNN.The DNC sent requests for proposals to a host of cities and received responses from eight: Atlanta; Birmingham, Alabama; Denver; Houston; Miami Beach; Milwaukee; New York; and San Francisco."The DNC sent the original letters of interest to a broad list of cities that have traditionally been able to meet the preliminary requirements for serving as a host," the official said. "We expect the entire selection process to play out over the next year."The site of the convention often serves as either a symbolic representation of where the party hopes to perform well in the presidential run or an area that represents certain values the party is looking to project.The official also said the party will consider event facilities in each city, transportation options and hotel accommodations.The Republican National Committee plans to announce its 2020 convention site by the end of summer, committee leaders told members earlier this month.The Republicans have kept quiet about the cities they are considering. But Trump campaign manager Brad Parscale has signaled interest in his hometown of San Antonio, and The Charlotte Observer reported that Charlotte, North Carolina, had presented a bid to the RNC.The Democrats held their 2016 convention in Philadelphia. While the selection is considered an honor and a boon for business, it is also regularly a logistical nightmare.Some of the cities being considered by the Democrats would be repeat hosts, including New York, which has hosted five times, most recently in 1992.Atlanta hosted in 1988, Denver hosted in 1908 and 2008, Houston hosted in 1928, Miami Beach hosted in 1972 and San Francisco hosted in 1920 and 1984. 1826
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