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Investors were in a rotten mood Tuesday.Seemingly good results from Dow components Caterpillar, Coca-Cola and United Technologies didn't please Wall Street. The Dow closed down 425 points, or 1.7%, after opening with a 130-point gain. At its worst point of the day, the Dow was down more than 600 points.The Dow has fallen for the past five straight days — its longest losing streak in more than a year — and has given up its gains for the year.Why the nearly 650-point swing in the Dow in a matter of hours? Once investors took a closer look at the results, they focused on the negatives.Caterpillar, for example, warned that profit margins would probably not get any higher this year than they are now.And Coke investors were disappointed that lower prices may have helped drive sales -- even though Diet Coke finally returned to growth. Shares of Caterpillar plunged 6% while Coke's stock lost 2%.Verizon was one of the few companies that posted strong results Tuesday that didn't seem to have any caveats -- and it was rewarded for it. Shares of Verizon rose 2%.But other earnings reports were downright gloomy. 3M, another Dow component, lowered its outlook for the year. That sent its stock plunging 7%. Insurance company Travelers, also in the Dow, fell 3% after its earnings missed forecasts.All this negativity dragged down other old-school, classic industrial Dow companies too. Boeing and DowDuPont both fell about 3%.And tech investors were disappointed by increased expenses at Google parent Alphabet.Related: Why everyone is stressing about the 10-year Treasury Even though Alphabet posted solid gains in earnings and revenue that easily topped Wall Street's estimates, the stock fell 5% — and that helped drag down the S&P 500, Nasdaq and tech titans Apple, Amazon, Microsoft and Facebook.It didn't help that the yield on the 10-year US Treasury note rose above 3% for the first time in more than four years Tuesday morning.If this benchmark bond rate keeps climbing, it may make it more expensive to borrow money for mortgages and auto loans and could eat into profits at big US companies — especially since the Federal Reserve is expected to keep raising short-term rates.Still, one expert said investors may be overreacting to the moves in the bond market."I don't know that there is any magic to the 3.0% level other than it is a nice round number," said Jeff Mills, co-chief investment strategist for PNC Financial Services Group. "There is no rule that says rising rates are bad for the stock market."Mills added that since 1928, stocks have actually done a little bit better when rates have gone up. The market has gained about 11% on average during years that rates have gone up and 9% in years of falling rates.But jittery investors don't seem to care about historical market facts right now. They are selling first and asking questions later.The-CNN-Wire 2887
In the hectic eight days after President Donald Trump fired FBI Director James Comey, Deputy Attorney General Rod Rosenstein and top FBI officials viewed Trump as a leader who needed to be reined in, according to two sources describing the sentiment at the time.They discussed a range of options, including the idea of Rosenstein wearing a wire while speaking with Trump, which Rosenstein later denied. Ultimately, then-acting FBI Director Andrew McCabe took the extraordinary step of opening an obstruction of justice investigation even before special counsel Robert Mueller was appointed, the sources said. The obstruction probe was an idea the FBI had previously considered, but it didn't start until after Comey was fired. The justification went beyond Trump's firing of Comey, according to the sources, and also included the President's conversation with Comey in the Oval Office asking him to drop the investigation into his former national security adviser Michael Flynn.The new details about the genesis of the obstruction case into Trump that became a key element of the Mueller probe shed light on the chaotic week following Comey's firing and the scramble to decide how best to respond. They also help to explain the origins of the Mueller investigation that has stretched across 19 months, consumed Trump's presidency and is building toward a dramatic day of courtroom filings on Friday.A Justice Department official strongly disputed Rosenstein sought to curb the President, emphasizing that his conversations with McCabe were simply about talking through ways to conduct the investigation. "He never said anything like that," the source added.Other sources said that the FBI would only take such dramatic action if officials suspected a crime had been committed. But Rosenstein and other senior FBI officials also had deep concerns about Trump's behavior and thought he needed to be checked, according to the sources.A spokeswoman for McCabe did not provide comment for this story."It's shocking that the FBI would open up an obstruction case for the President exercising his authority under Article II," said the President's attorney Rudy Giuliani.The Washington Post first reported last year that the obstruction investigation started before Mueller's appointment, but the sources offered a more complete picture of the drastic actions law enforcement leaders took during that feverish period.Prior to Comey's firing, top FBI officials had discussed opening an obstruction investigation based on the President saying to Comey, "I hope you can let this go" when discussing Flynn. That episode was later described in memos Comey wrote following the February meeting that the former FBI director would leak soon after his firing.Comey's attorney did not comment for this story, but pointed to Comey's 2017 testimony to the Senate Intelligence Committee.Comey, however, hinted at the discussion in his book."We resolved to figure out down the road what to do with the president's request and its implications as our investigation progressed," he wrote.Then, on May 9, Comey was fired.The subsequent meetings led by Rosenstein and McCabe were held soon after the White House made clear that Rosenstein's memo addressing concerns about Comey's conduct during the Hillary Clinton probe was central to the President's decision. One of the sources likened it to "spitballing" about potential steps in the mold of "What are the options. What makes sense. What doesn't?"For the deputy attorney general, the obstruction investigation into Trump and the appointment of the special counsel has turned his entire Justice Department tenure into an awkward role of supervising the Mueller investigation after he -- voluntarily, sources said -- wrote the memo justifying Comey's firing. Critics have argued the Comey memo makes Rosenstein a potential witness in the obstruction case. 3895

INDIANAPOLIS — Parents of two girls who attend Horizon Christian School on Indianapolis’ northeast side say their daughters are being bullied and threatened because of the color of their skin.Alexander Wortham realized something was happening when his daughter, Imani, started acting strange, asking to stay home from school more often than a typical teen girl.He and Dominique Duncan soon found out that their two high school daughters were being bullied.“Silence is killing our young people," Wortham said. "People not dealing with the issue. Not dealing with the problem and I think for us, as parents, enough is enough."Duncan agreed.“Very let down as a parent. Very let down,” Duncan said.Imani and her friend, LaShanti, say a male student started bullying them at school saying things like “If the school ever gets shot up, you’ll be the first one to get shot.”“He pointed to me personally, he looked me in the eye,” Imani said.“He said he would sell me into slavery if I didn’t do what he said and then he started making little jingles about slavery,” LaShanti said.According to an email the parents received from a school administrator, the school suspended the student last week after the girls’ parents brought the issue to the administration’s attention. But that student was allowed to return to class on Monday.The girls felt so uncomfortable, they both decided to stay home this week.“We should be able to go to school and not feel threatened, scared or having to be on edge the whole time,” Imani said.Both parents say they want the school to create more concrete policy changes on bullying. They both suggested an all-school assembly or bringing experts in to discuss race relations and bullying.The Horizon Christian School principal denied to comment on the situation, saying it’s against school policy to discuss students without permission from all parents involved. 1900
It’s a simple message: “Count every vote."It's what a crowd in Pennsylvania is chanting, as officials continue counting ballots in the battleground state. For Kierstyn Zolfo, it’s a personal one.“We believe that every vote needs to be counted,” she said. “I voted by mail-in, and I do that regularly anyway because I have disability issues.”Her mobility may be limited, but her voice--and those of others in this crowd--are not. Just 30 miles north of Philadelphia, in the all-important suburbs and outside the Bucks County Elections Office, residents rallied.“We're also here to celebrate that we're outside of the place that the votes were being counted,” said Marlene Pray, who organized the rally.It’s an effort called Protect The Vote. They are pushing to make sure every vote in the state, no matter the party affiliation, gets counted.“It's a completely nonpartisan effort. We just want to make sure that every vote gets counted,” said Bob Edwards with Protect The Vote. “I mean, what could be more simple and what more American than that?”Yet, the Trump campaign is suing Pennsylvania on several legal fronts, hoping to block certain mail-in votes, votes that the Pennsylvania Secretary of State said were legally cast by the millions there in the largest numbers ever seen in the state.The potential for multiple legal challenges here in Pennsylvania looms large, especially for ballots received after Election Day, which by state law, can still be counted if they were postmarked on Election Day and are delivered to elections offices by Friday.“This is profoundly important,” Pray said.It is something Kierstyn Zolfo sees, as well.“This is about American principles,” she said, “counting every vote.” 1719
Israel has launched air strikes on Gaza after Hamas militants fired rockets into its territory amid efforts to achieve a long-term ceasefire agreement.The fighting Wednesday left three Palestinians dead in Gaza, including a pregnant mother and her young daughter, according to the Palestinian Ministry of Health, with injuries reported in Israel and Gaza.According to the Israel Defense Forces (IDF), at least 100 rockets were launched from Gaza toward Israel, with rocket alarms ringing into the early hours of the morning. Twenty rockets were intercepted by Israel's Iron Dome aerial defense system, while most others landed in open fields in southern Israel.Three people were taken to the hospital with light to moderate injuries when four rockets landed in Sderot adjacent to Gaza, a spokesman for Magen David Adom, Israel's emergency response service, said.Following the rocket launches, the Israeli air force struck more than 140 military targets across 20 sites in Gaza, including a factory for manufacturing facilities, training complexes, a maritime tunnel shaft, and other sites, according to the IDF.The Palestinian Ministry of Health identified the deceased as 34-year-old Ali Ghandour, 23-year-old Inas Khamash, and her 18-month-old daughter, Bayan Khamash. Twelve others were injured, the Ministry said.Warning of the imminent dangers of continued escalation, UN Special Coordinator for the Middle East Peace Process Nickolay Mladenov tweeted a statement early Thursday morning: "Our collective efforts have prevented the situation from exploding until now. If current escalation however is not contained immediately, the situation can rapidly deteriorate with devastating consequences for all people."The escalation came after Hamas leaders traveled to Cairo in recent days to discuss the possibility of a long-term ceasefire with Israel.Khalil al-Hayya, a member of Hamas' political bureau, said in a televised Al Jazeera interview Wednesday that the general layout of a ceasefire agreement was in "advanced stages."Israel's security cabinet has also discussed possible options relating to Gaza.Israel's Minister of Transportation, Israel Katz, said over the weekend on Twitter, "The situation in Gaza is reaching a decision -- or an arrangement or a war." Katz said he would support an Egyptian-backed agreement that provided aid and rehabilitation to Gaza.But on Sunday, following a security cabinet meeting to discuss the situation in Gaza, a readout of the meeting from the Prime Minister's Office said only that the IDF Chief of Staff had briefed the cabinet on the latest developments in Gaza. No decisions had been made.Earlier Wednesday, an Israeli tank struck a Hamas post in northern Gaza, after gunfire from Gaza damaged an Israeli engineering vehicle near the border fence.In a separate incident on Tuesday, an Israeli tank struck a Hamas military post in northern Gaza, killing two militants. Israel carried out the strike after the IDF claimed Hamas snipers fired at Israeli security forces near the border. Hamas says the two men were taking part in an exercise and did not fire at Israel.Hamas vowed to avenge the deaths, prompting Israel to shut down roads near Gaza for security reasons.Efforts to achieve a comprehensive ceasefire come after months of violence along the Israel-Gaza border.In late-March, Palestinians began weekly protests dubbed the "Great March of Return" along the border fence. More than 160 Palestinians have been killed by Israeli fire in the protests, according to the Palestinian Ministry of Health.Israel has accused Hamas, which controls Gaza, of orchestrating the protests, during which the IDF says rioters have thrown Molotov cocktails, burned tires, and hurled grenades. An Israeli soldier was killed by sniper fire from Gaza in late-July, the first soldier killed along the Gaza border since the 2014 war.Israel has maintained a land, sea and air blockade on the coastal enclave since June 2007, when Hamas took over Gaza.The blockade effectively locks the more than two million Gaza residents inside the territory and is seen by the UN as a major contributor to the deterioration of living conditions there. Israel says it's a necessary security measure. 4250
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