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The Wall Street roller coaster started to climb again.The Dow closed up 401 points, or 1.6%, on Thursday. The broader S&P 500 gained 1.9% and the Nasdaq surged 3%, its best day since March. Stocks bounced back after a sharp drop Wednesday that sent the Nasdaq into a correction.The market has slumped badly in the past several weeks, but it hasn't fallen in a straight line. Volatility is spiking, and huge sell-offs have been interspersed with big gains, including October 16's 548-point jump for the Dow and October 12's 287-point gain.Still, the back and forth has been heaviest in one direction: down. The S&P 500 was less than a percentage point drop away from entering a correction Wednesday. Investors had been looking for strong corporate earnings to drag stocks out of the doldrums, but earnings have disappointed this quarter. That gave already nervous investors more anxiety."No matter how good the report or how positive the guidance, investors are looking for the exits," said Justin Walters, cofounder of Bespoke Investment Group, in a note to investors Thursday. "Companies that are reporting earnings this season are getting slaughtered."The average stock has fallen 2% the day after reporting earnings this quarter -- the worst performance of the 21st century, according to Walters.Concerns about rising rates and the trade war have spooked the markets this month. The S&P 500 has fallen 7% in October. And the Nasdaq is down 9%, on track for its worst month since November 2008. Only 13% of stocks are trading above their 50-day moving averages, evidence that Walters believes suggests stocks have been oversold.Investors agreed on Thursday at least. They saw a buying opportunity, particularly in tech.All of the FAANG stocks were up more than 2%. Amazon led the pack, up 7%.Twitter (TWTR) spiked 16% after reporting higher profit and more engaged customers despite losing users overall. Netflix (NFLX) rebounded after plummeting 9% Wednesday. Microsoft (MSFT) rose about 6% after reporting strong earnings the night before.Tesla (TSLA) was up 9%. The company reported by far its most profitable quarter in history late Wednesday, lessening concerns of a looming cash crunch that had been weighing on shares.Tech will be tested again later on Thursday: Alphabet, Amazon (AMZN), Snap (SNAP) and Intel (INTC) all will post their quarterly financial report after the bell.Southwest (LUV) fell 9% after reporting higher oil prices would pinch profit in the future. But American Airlines (AAL) rose 7% following strong earnings Thursday morning.The Dow tumbled more than 600 points on Wednesday, and the Nasdaq lost 4%, its worst one-day percentage drop in more than seven years. 2768
The USS Midway Museum will host a commemoration event for the 19th anniversary of the 9/11 attacks. The Fire Department of New York Retirees of San Diego, the National City Fire Department, San Diego Fire & Rescue, the Wounded Warrior Project and flight crews from United and American airlines will pay tribute to those who died as a result of that day. 365
The state of play in key races has shifted since election night almost one week ago, offering a different picture of where the balance of power will stand in Washington come January.Democrats have taken the lead in a handful of key House races while the margin in Florida's Senate race has narrowed, forcing a recount.A key US Senate race in Arizona was settled on Monday night -- six days after Election Day -- when Republican Rep. Martha McSally conceded to Democratic Rep. Kyrsten Sinema.Two governors' races remain undecided in Georgia and Florida.Here's a breakdown of where key races stand: 605
The suspect in the deadly terror attack in New York wasn't only a driver for Uber. He also worked for its rival Lyft.Lyft said late Wednesday that Sayfullo Saipov drove for its ride-hailing app in the past but that it deactivated his account as soon as he was identified as a suspect in the attack.Saipov, a 29-year-old from Uzbekistan who was living in New Jersey, has been charged with federal terrorism offenses in connection with Tuesday's attack in Manhattan in which eight people were killed.Uber said Tuesday that Saipov started driving for it in New Jersey just over six months ago, making more than 1,400 trips. It also banned him from its platform after the attack.Lyft didn't provide details on how long Saipov drove for its app or how many trips he made. It's not unusual for drivers to work for both companies.Saipov's case is drawing renewed attention to the background checks that ride-hailing companies carry out on their drivers.Records show Saipov received multiple traffic citations in the past, including failure to equip a motor vehicle carrier with or maintain a required brake system.Both Uber and Lyft said they hadn't come across any complaints about Saipov's safety as a driver for them.New Jersey rules for ride-hailing services like Uber and Lyft require the companies to conduct criminal background checks, which are usually outsourced to specialist firms. Convictions for crimes like reckless driving automatically disqualify a driver.Uber applies different criteria for background checks depending on state regulations. In general, drivers cannot have more than three minor moving violations, such as speeding tickets, in the past three years.Lyft's website says potential drivers are screened for "driving incidents" but doesn't specify what would disqualify them.Both Uber and Lyft say they are in contact with law enforcement authorities over the New York attack."Our thoughts are with those affected by this tragic act," Lyft said. 1999
The U.S. Constitution states in order to be president, you must be 35 years of age, a natural born citizen, and must have lived in the United States for at least 14 years. To become vice president, you have to be eligible to become president.Sen. Kamala Harris, 55, was born in Oakland, California, in 1964 and a US citizen at birth. Akin to the controversy he tried to stir during the Barack Obama's Presidency, President Donald Trump suggested on Thursday that Harris isn’t eligible to run for vice president.Harris on Tuesday was announced as Joe Biden’s running mate on this year’s Democratic presidential ticket."I heard it today that she doesn't meet the requirements. And, by the way, the lawyer that wrote that piece is a very qualified, very talented lawyer,” Trump said.On Thursday, Newsweek published an op-ed questioning her eligibility. Newsweek defended the op-ed's publication. The argument that the op-ed makes, penned by John C. Eastman, is that Harris isn't a natural born citizen because her parents were not US citizens at the time of her birth. The issue Eastman raises is that the US constitution does not define "natural born citizen." But the 14th amendment clearly states that those born on US soil are citizens at birth."All persons born or naturalized in the United States, and subject to the jurisdiction thereof, are citizens of the United States and of the state wherein they reside," the amendment reads.Similar controversies have transpired when Sens. John McCain and Ted Cruz ran for president. Both were US citizens at birth, but were not born on US soil. Harris was born to two immigrant parents, a Jamaican father and Indian mother. According to his official college biography, Harris’ father Donald J. Harris was born a Jamaican citizen but has naturalized as an American citizen. Donald J. Harris is a professor emeritus at Stanford.According to her official obituary, the senator’s mother Shyamala Gopalan Harris, who died in 2009, came to the United States as a teenager and began participating in the Civil Rights Movement. She then became a cancer researcher at UC Berkeley. 2124