How long will stocks stay in a bear market? It likely hinges on if a recession hits, says Wells Fargo Institute

When the S&P 500 officially dropped into a bear market on June 13, closing down more than 20% from its last peak, it stirred debate about whether investors should hold tight or think about buying the dip. Battered stock prices SPX, -2.01% might look tempting for investors, but analysts at the Wells Fargo Investment Institute … Read more

SEC fines Ernst & Young $100 million for employees cheating on CPA ethics exams

Accounting giant Ernst & Young will pay $100 million to settle charges with the Securities and Exchange Commission that hundreds of its employees cheated on the ethics components of the Certified Public Accountant examination and continuing education courses and for withholding information about the misconduct to regulators. “It’s simply outrageous that the very professionals responsible … Read more

‘It’s nuts’: Real estate agents describe chaos in New York City’s hot rental market

Renting an apartment in New York City this summer? Say hello to sky-high prices and a fight to the finish. Amid the heat and the occasional rain, there’s a mad scramble to rent affordable apartments in Gotham, which has been undersupplied for many years. Real estate agents describe the mayhem when it comes to prices. … Read more

Chinese censors scrub internet after senior party official gives speech on timeline of zero-Covid in Beijing

CNN — Chinese censors scrambled to delete what appears to be a misleading quote by a senior Communist Party official published in state media Monday, which claimed the “zero-Covid” policy would remain in place in Beijing “for the next five years,” in an effort to tame an online backlash. Beijing Daily, the official Communist Party … Read more

Supreme Court rules school district cannot prohibit football coach’s prayers on field

Washington CNN — The Supreme Court said Monday that a Washington state school district violated the First Amendment rights of a high school football coach when he lost his job for praying at the 50-yard line after games. The opinion was 6-3 along conservative-liberal ideological lines. “The Constitution and the best of our traditions counsel … Read more

Recession is challenging inflation as top fear among stock and bond investors

It’s easy to want to duck for cover given the carnage seen this year in stocks and bonds, particularly with the Federal Reserve vowing to wage an unconditional battle against high inflation. While inflation running at a 40-year high still sits near the top of the list of worries for many investors, another potential bugaboo … Read more

What to expect January 6 hearings day 5:

CNN — Thursday’s hearing before the House select committee investigating the January 6, 2021, insurrection turns the panel’s focus toward how former President Donald Trump tried to use the Justice Department to bolster his attempts to overturn the 2020 presidential election. Three top officials who led the Justice Department in the final days of the … Read more

Justin Ross Harris was charged with murder for leaving his toddler in a hot car. Georgia’s Supreme Court just overturned that ruling. Here’s how we got here

CNN — It’s been eight years since Cooper Harris, a 22-month-old, died in a sweltering hot car. Since then, the twists and turns in the case surrounding Cooper’s father, Justin Ross Harris, who left the toddler in the car for seven hours, have garnered national attention. It was also revealed that Harris was sexting multiple … Read more

Prince Charles meets genocide survivors in Rwanda

Kigali, Rwanda CNN — The altar of Nyamata Church is draped with a bloodstained cloth. Its pews are gone; in their place stand rows and rows of clothing and personal effects which belonged to the people massacred here 28 years ago. The roof above is peppered with holes caused by shrapnel, after perpetrators in the … Read more

Covid-19 vaccinations begin for US children under 5

CNN — Dr. Sarah Schaffer DeRoo described in one word how she felt after getting her 7-month-old son vaccinated against Covid-19: thrilled. Her active baby boy sat in her lap at a vaccine clinic hosted by Children’s National Hospital in Washington, DC, while receiving his first dose of Covid-19 vaccine. The shot was administered in … Read more