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The United States’ Gross Domestic Product is expected to have a modest comeback in 2021 while unemployment will be slower to recover for years to come, according to a government projection from the Congressional Budget Office.The nonpartisan government agency that provides policy guidance for members of Congress said that unemployment is projected to remain above pre-pandemic levels through 2030.Thursday’s estimates from the CBO indicate that real GDP in 2021 will jump 4% in 2021 from 2020 after taking a projected 5.8% drop in 2020. The CBO then projects that real GDP will increase 2.9%. In years following, the GDP is expected to level off at 2.2%.But after unemployment dropped to 3.5% in 2019,, the unemployment rate is expected to be 7.6% in 2021, followed by 6.9% in 2022 and 5.9% in 2023 and 2024. Data released Thursday pegged the US unemployment rate at 11.1% in June.The CBO stresses there is uncertainty in its forecast given the pandemic.“The severity and duration of the pandemic are subject to significant uncertainty,” the CBO said. “In particular, several important epidemiological characteristics of the coronavirus remain unclear: Much still needs to be learned about its transmissibility and lethality and about the immunity conferred on people who have recovered from it. Moreover, the severity and duration of the pandemic will be affected by how various mitigation measures reduce the spread of the virus and by when vaccines and additional treatments become available—outcomes that remain highly uncertain.” 1544

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 White House said Thursday that new national security adviser John Bolton met with Russian ambassador to the US Anatoly Antonov."Bolton reiterated that it is in the interest of both the United States and Russia to have better relations, but that this will require addressing our concerns regarding Russia's interference in the 2016 election, the reckless use of a chemical weapon in the United Kingdom, and the situations in Ukraine and Syria," the White House statement said.This was the first meeting between the two in their current roles. Bolton officially stepped into the role of White House national security adviser earlier this month after President Donald Trump announced his appointment in March.The meeting came amid heightened tensions between the two nations over Syria, the poisoning in the UK of a former Russian spy and the ongoing special counsel investigation into Russian interference in the 2016 election.Last year, Trump?met with Russian Foreign Minister Sergey Lavrov and Sergey Kisylak, who was Russia's ambassador to the US at the time. Russian state media posted photos of that Oval Office meeting. 1160

The World Health Organization updated its guidelines on mask-wearing Tuesday, recommending that anyone over the age of 12 wear a mask indoor and outdoor and inside your home if it's ventilated poorly.The updated guidelines come as COVID-19 cases continue to sore in America. On Wednesday, 180,083 new cases were reported, according to data from Johns Hopkins University.According to the guidelines, in areas where COVID is spreading, WHO recommends that anyone over the age of 12 wear masks in shops, shared workplaces, and schools if they can't maintain a distance of more than 3-feet between others.They also recommend masks be worn when people visit your home if there's not adequate ventilation, or you can't be more than 3-feet or more from each other.The WHO said on top of wearing a mask, other precautions such as washing hands, avoiding touching your face, having adequate ventilation if indoors, testing, contact tracing, quarantine, and isolation should also be taken."Together, these measures are critical to prevent human-to-human transmission of COVID-19," WHO said.In areas of COVID-19 spread, the organization said healthcare workers should take part in "universal masking" in health care facilities, meaning they should wear an N95 respirator mask throughout their entire shift, including when caring for other patients.The advice applied to visitors, outpatients, and common areas such as cafeterias and staff rooms, but added administrative staff does not need to wear a mask if they are not exposed to patients.The organization also recommended that people who do vigorous physical activity should not wear masks, citing some associated risks, particularly asthma.For children, the WHO recommends children up to 5-years-old should not wear masks for source control. They added that children between the ages of 6 to 11-years-old should only wear masks if "a risk-based approach is applied.""Factors to be considered in the risk-based approach include intensity of COVID-19 transmission, child’s capacity to comply with the appropriate use of masks and availability of appropriate adult supervision, local social and cultural environment, and specific settings such as households with elderly relatives, or schools," the organization added in its guidelines. 2285

The stock market is on the comeback trail.After another wobbly session, the Dow soared 287 points, or 1.2%, on Friday. It was the index's best day since August.The Dow had soared 400 points at the open before giving up most of those gains and then resuming its rally. The Dow lost 1,378 points over Wednesday and Thursday.The broader S&P 500 jumped 1.4% on Friday. The Nasdaq, which has taken the brunt of the recent stock market turbulence, spiked 2.3%.Despite Friday's rebound, all three major indexes suffered their worst weeks since March. And the S&P 500 is down three straight weeks. That hasn't happened since the Brexit referendum of June 2016.Investing experts weren't exactly sure what turned stocks negative by midday. The driving forces behind this week's downturn -- trade war and interest rate fears -- were around before this week, and yet market volatility is spiking."The sellers have control right now," said Justin Walters, co-founder of Bespoke Investment Group. "The scariest sell-offs are the ones you can't tie to a specific reason."Stocks had turned sharply south over the past week because investors are concerned about rising interest rates. As the Federal Reserve raises rates to keep the economy from overheating, investors have been getting out of bonds, driving down their price and driving up their yields. Suddenly, the return on bonds has become competitive with some stocks — particularly risky tech stocks.Rising interest rates also increase borrowing costs for households and businesses, eating into corporate profits."What we are seeing now is changing sands. The ground isn't stable and people are figuring out where to go next," said JJ Kinahan, chief market strategist with TD Ameritrade.Tech stocks have come under fire because they are some of the riskiest and most expensive parts of the market. Investors fear that tech companies may not hold up well in a downturn, particularly as interest rates spike. A proxy for the tech sector had its sharpest plunge in seven years on Wednesday.But Big Tech on Friday regained some of its losses. Facebook (FB), Apple (AAPL), Amazon (AMZN), Netflix (NFLX) and Google (GOOGL) were all up.Asian and European markets also came back Friday. The Hang Seng soared 2.2%. Stocks in Shanghai rose 0.9% and the Nikkei rose 0.5%. Stocks in London, Germany and France all rose about a half percentage point.Markets had bounced back Friday morning following news that President Donald Trump plans to meet next month with Chinese leader Xi Jinping at the G-20 summit. That eased some of the investors' fears about another trade war escalation. China also reported its exports rose nearly 15% in September, stronger than expected. That suggests China is weathering the first waves of new tariffs that the Trump administration imposed on billion of Chinese exports this summer.But Kinahan is still worried about US-China trade talks. He thinks that a deal is key in order for the markets to get back on track, adding that a full-blown trade war could undo much of the positives from the Trump administration's pro-business policies."The concern is that if nobody blinks, it could negate all the tax cuts we had," he said.Earnings season also kicked off Friday morning, with JPMorgan (JPM) and Citigroup (C) reporting their quarterly finances before the bell. Wall Street analysts expected the financial sector to post another incredibly profitable quarter — and JPMorgan managed to?beat their already lofty expectations.In times of market turbulence, there's nothing like soaring profits to calm investors' nerves.Rebounds after disastrous market selloffs are common. Investors who think the market may be oversold look to buy stocks they think are suddenly cheap.But markets are fickle. 3804