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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 cremated remains of notorious cult leader Charles Manson were scattered on a California hillside following a Christian funeral on Saturday, nearly four months after his death.The burial came one week after Manson's grandson, Jason Freeman, won the right to his grandfather's body after a court battle that began shortly after Manson's death on November 19.The family "acted like ninjas" to keep the funeral in Porterville, California, from gaining attention, Freeman said.About 20 people attended, he said, describing them as his grandfather's best friends from before and during Manson's 46-year incarceration.Among them was Sandra Good, a member of the original "Manson Family." Good was not part of the grisly two day killing spree that terrorized the nation in 1968. But she remained a follower and extolled Manson's environmental directive known as Air, Trees, Water, Animals (ATWA).Manson's body was dressed in an orange ATWA T-shirt for the funeral. His remains were cremated after the service.Also attending was Afton Burton, who was briefly Manson's fiancée in 2014. She was 53 years younger than Manson.Freeman battled two other men with Manson connections for the right to dispose of the remains -- Michael Brunner, who claimed to be Manson's son and Michael Channels, a long time Manson friend and memorabilia collector. Freeman invited both to the funeral. Neither showed up.During the court fight, both Freeman and a probate attorney talked about Manson's body being kept "on ice" by the Kern County Coroner. However, Freeman told CNN that the funeral home told him they "had a mess on our hands," and that there was "gross neglect to the corpse." Freeman said it was clear to him that his grandfather had not been properly stored.But Stephen Wells, a spokesman for the Kern County Sheriff's department, said that Manson's body "wasn't treated any differently than any other body" being stored by the coroner's office. Wells said it was kept refrigerated, and that "after four months it would have the standard decomposition."Freeman is a devout Christian, and had a local pastor from Porterville lead the service.Also at the service was a documentary camera crew working with Freeman on a film about his father -- Charles Manson Jr., who committed suicide when Jason was a boy.While the fight over Manson's remains is over, the court battle for his estate -- including personal items as well as music rights -- is still being fought in court. Freeman, Brunner, Channels and Matthew Robert Lentz, who also claims to be Manson's son, all head to probate court in Los Angeles again on Friday."It was great for everybody to come together for the first time," said Freeman's wife, Audrey, who accompanied him to the funeral. "It was a gift to us." 2775
The Environmental Protection Agency has handed documents to Congress that show new travel expenses from agency administrator Scott Pruitt, totaling some ,000 in hotel stays and air travel, The Washington Post reported Tuesday.The documents, which were requested by House Oversight Committee Chairman Trey Gowdy and obtained by the Post, reportedly show that Pruitt traveled on government business dozens of time on first-class and domestic flights from August 2017 through February 2018.The reported expenses include a four-day, ,631 trip to Morocco in December, a series of first-class flights following Hurriciane Harvey totaling ,330, and a two-day domestic trip for media interviews and a visit to Florida that amounted to ,767. Pruitt's travel expenses listed in the records reportedly do not include the costs of his security team or aides who travel with him.The EPA justified the travel spending as necessary to ensure Pruitt's security."EPA's Protective Service Detail identified specific ongoing threats associated with Administrator Pruitt's travel and shifted his class based on certain security protocols that require him to be near the front of the plane," said Jahan Wilcox, a spokesperson for the agency.Previously, CNN reported that from June through August 2017, the EPA justified several expensive charter flights for Pruitt -- including a ,000 bill for a business trip around his home state.In late August, the EPA inspector general announced it would investigate Pruitt's travel practices. Since beginning the probe, the IG has twice expanded its scope, which now encompasses all of Pruitt's 2017 taxpayer-funded travel.According to an earlier Post analysis of other EPA records, Pruitt's travel choices distinguish him from his predecessors in that he brings a larger group of aides with him on trips, he usually flies first or business class on international and domestic trips, and he often flies Delta Airlines even though the government has contracts with certain airlines on specific routes.In response to the travel probes, earlier this month Pruitt said he'll be seeking alternative accommodations -- including potentially flying in coach class -- on his "very next flight."Other Trump administration Cabinet secretaries have attracted scrutiny of their travel spending, including Interior Secretary Ryan Zinke, Veterans Affairs Secretary David Shulkin, Treasury Secretary Steve Mnuchin and former Health and Human Services Secretary Tom Price, who resigned after using private planes for multiple government business trips.Pruitt has also been under scrutiny for the costs the agency has accrued changing EPA headquarters, including a ,000 secure phone booth for Pruitt's calls.Other Cabinet members' spending for office renovations has been criticized recently. Zinke's office doors were to be replaced to the the tune of nearly 9,000. The department later said it would obtain the doors at a reduced price. And last month, Housing and Urban Development Secretary Ben Carson withdrew his request for a ,000 dining room set for his office. He told Congress this week that the redecorating decision was left to his wife. 3185
The family whose dog died on a United Airlines flight in March has reached a settlement with the carrier, the family attorney and the airline said Thursday.The 10-month-old French bulldog named Kokito was inside an overhead bin on Flight 1284 from Houston to New York after a flight attendant told the passenger to put it there.When the plane landed at LaGuardia Airport, the dog was dead.The financial details of the settlement are confidential as part of the agreement, according to Evan Oshan, the attorney representing the Catalina Robledo family.United spokesman Charles Hobart said the airline began a comprehensive review of its animal transport policy and is collaborating with American Humane?to improve its practices. That group works to ensure the safety of animals."We are deeply sorry for this tragic accident and have worked with the Robledo family to reach a resolution," Hobart said.As a result of the incident, New York state Sen. Marisol Alcantara, a Manhattan Democrat, crafted legislation entitled Kokito's Law -- a new pet passenger bill of rights.Alcantera is the prime sponsor of the legislation, a measure is now in the state Senate Consumer Protection Committee.Among the proposals in the legislation are banning the placement of pets in overhead storage compartments, 1316
The general manager at Grayton Road Tavern received a strange phone call from her manager on duty just before 9 p.m. local time Monday.Jennifer Natale said she was called when her employees found out a woman had crawled up through a ceiling tile in the women's bathroom and hadn't come out."It was honestly just one of those phone calls you don't really ever think you're going to get," Natale said. "I asked her to put me on FaceTime, she did that and it was true. There was a person who crawled up into the ceiling."The bar staff called police, and the woman was found in the ceiling over the kitchen.In surveillance video shown in the media player above, the woman is seen walking into the bathroom, and sometime later a ceiling tile falls in the hallway."It was a really hot day. I can't even imagine how hot it was for that two-hour period," Natale said.Monday was a record-breaking day reaching 93 degrees in the Cleveland area.Police told Natale the woman had pulled similar stunts in the past. The bar is known for its Queen of Hearts game, which left one lucky winner with .5 million in March. This may have been the motive behind the woman's desire to hide in the ceiling on such a hot day, but Natale said the money isn't even kept in the restaurant. 1291