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Wall Street does not like the mixed messages coming out of the White House on trade.The Dow fell 600 points, or 2.4%, on Friday afternoon. The Nasdaq plunged 3%, while the S&P 500 retreated 2.4%.The Dow closed for the day down 588 points.Stocks had been trading higher earlier Friday, but the market turned sharply lower following conflicting messages coming out of the Trump administration about trade.While White House economic adviser Larry Kudlow sounded an optimistic note about China talks on CNBC, trade adviser Peter Navarro was simultaneously warning on CNN of higher tariffs if issues aren't resolved during the 90-day negotiating period."We've gotten a hodge-podge of mixed messages from people in the same administration," said Art Hogan, chief market strategist at B. Riley FBR. "We're not sure who we're supposed to listen to."Investors also received a softer jobs report on Friday. The Labor Department said the United States?added 155,000 jobs in November, missing expectations for a gain of 200,000. But the labor news did not trigger a selloff and some traders likely figured the slowdown in hiring will reduce pressure on the Federal Reserve to raise interest rates.Worries about the negative consequences of the trade war and hopes for progress have launched Wall Street on a wild ride of late. The US-China ceasefire sent stocks soaring on Monday. But doubts about the truce helped knock the Dow nearly 800 points into the red on Tuesday. And then the Dow plunged 785 points on Thursday before staging a huge comeback."It doesn't feel like much of a ceasefire," said Ed Yardeni, president of investment advisory Yardeni Research. 1697
Walmart just unveiled a new online shop for officially licensed military-branded products.The company said the showcase features about 3,000 items emblazoned with logos from the five branches of the U.S. military -- Army, Air Force, Navy, Marine Corps and Coast Guard.The items include a "Air Force Dad" T-shirt, a Marines dartboard, and a Coast Guard toy helicopter.The Walmart collaboration aims "to build brand awareness and create multiple touch points for Americans to show support to the U.S. Army," according to a statement from Paul Jensen, the U.S. Army's director of trademark licensing.Walmart says each military branch has approved the suppliers, and the licensing deals mean that the military will collect royalty payments on all of the sales. The company says it expects to add more products as additional vendors apply."As a 31-year U.S. Army veteran I'm proud to wear my Army gear, and I'm thrilled that Walmart is providing a way for all of us to shop for officially licensed military merchandise with confidence and convenience," retired Brigadier General Gary Profit, Walmart's senior director of military programs, said in a statement.Walmart says the "showcase builds upon Walmart's already-robust support for veterans," the cornerstone of which is the company's promise to hire 250,000 veterans between 2013 and the end of 2020. Walmart said Friday that it's just 62,000 shy of reaching that goal. 1438
WASATCH COUNTY, Utah -- A Midway woman is thanking her local search and rescuers after they dedicated their own time to find a family heirloom at the bottom of Deer Creek Reservoir.“Here it is!” Lindsay Bowen said as she held up her left hand. “To have it on my finger again felt so good.”Staring at her wedding ring, Bowen is still in disbelief.“I was so shocked, I kind of had just counted it as a loss and, if anything, we were just grabbing at straws trying to find it,” Bowen continued.Rewind two weeks, Bowen and her family were playing on a floating obstacle course at Deer Creek Reservoir.“We were just out there playing and it slipped right off,” Bowen said. “I knew it just dropped, and it was probably 15 to 20 feet deep.”Losing her ring had turned into a real-life treasure hunt.“Someone’s going to find it and take it,” she said.But to Bowen, the ring wasn’t just rich in value, it was rich in sentiment.“I’ve had my ring for 18 years,” said Bowen. “It’s my grandmother’s diamond and my husband designed it, I realized it held all of my babies and I was just so sad it was gone, I didn’t realize how much I loved it.”After her husband made multiple failed attempts to retrieve the heirloom, Bowen turned to a Facebook community group.“If anyone has the equipment, if anyone can go down, I’ll pay you a hundred dollars.”Then, unlikely heroes with Wasatch County Search and Rescue’s dive team saw her post and answered her call for help.“They went out for two hours and dove on their own time. They’re volunteers, and they just dove and dove and they couldn’t find it,” Bowen explained.Still, they didn’t give up hope. Eight days, two dives, an underwater metal detector, and a half dozen search and rescue volunteers later, they found it.“Are you serious!?” Bowen's husband can be heard yelling in a cell phone video of the recovery.“Yeah, we got it!” a rescuer shouted back.The long lost ring was found using a golf ball and a metal detector. The divers dropped the ball in the general area where it was lost, then used the metal detector to find it.“I started crying,” Bowen said. “[The diver] came up and it was on his pinky finger and he was so excited!”Bowen said the divers would not accept her reward. Still, she believes everyone came away with something valuable that day.“They were just happy to help and I was just so happy to be in a community that takes care of each other like that,” Bowen said. “That memory for me, of people doing good and being recognized for good, I think that’s my favorite part.”Bowen said the divers continued to use the metal detector in the water, retrieving a number of Apple Watches and iPhones, which they were able to return to their rightful owners.This story was originally reported by Elle Thomas at KSTU. 2772
WASHINGTON (AP) — First lady Melania Trump expressed support for the care that migrant children separated from their families received in U.S. detention centers and cast doubt on the authenticity of some immigrants' stories of fleeing danger in their home countries during a series of recordings aired Thursday. The tapes aired on CNN come from Stephanie Winston Wolkoff, a former aide to the first lady who released a book last month entitled "Melania and Me: The Rise and Fall of My Friendship with the First Lady." The tapes, which were exclusively aired on Anderson Cooper's show, were secretly recorded in 2018 by Wolkoff.In the tapes, Melania is also recorded bashing the Christmas decorations.The White House has been critical of the book and says the first lady is focused on her family and serving the country. 827
WASHINGTON (AP) — As coronavirus cases rise in more than half of the states, the Trump administration is urging the Supreme Court to overturn the Affordable Care Act, otherwise known as Obamacare.The administration’s high court filing Thursday came the same day the government reported that close to half a million people who lost their health insurance in the economic shutdown to slow the spread of COVID-19 have gotten coverage through HealthCare.gov.The administration’s legal brief makes no mention of the virus.Some 20 million Americans could lose their health coverage and protections for people with preexisting health conditions also would be put at risk if the court agrees with the administration. 716