Headlines 

GE Kicked Out of Dow, the Last 19th Century Member Removed

General Electric Co. suffered a crowning mentioned as a Dow candidate. Tuesday’s switch de-emphasizes industrial companies in the Dow, currently the biggest industry group in the index at 23 percent of its value, according to data compiled by Bloomberg. Walgreens is categorized as a consumer-staples company, a group that now only makes up 5.7 percent of the Dow. Health-care companies are 13 percent. According to the index manager’s website, the Dow favors a company that “has an excellent reputation, demonstrates sustained growth and is of interest to a large number…

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Stocks Tumble in Biggest Weekly Decline Since 2016: Markets Wrap

Dow Jones Industrials lost more than 1,400 points in the week Crude oil registers largest five-day increase since July data showed European growth sputtering. The tech heavy Nasdaq 100 dropped 7.3 percent this week, the most since 2015. Traders had already been bracing for the possibility of slowing expansion as the Federal Reserve reiterated its commitment to further interest-rate increases after Wednesday’s hike. “There is a tug of war between Fed tightening, fiscal stimulus, strong earning but slowing sales and now tariffs and potential trade wars,” said Jason Browne, chief…

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This Tiny Hedge Fund Just Made 8,600% On a Vix Bet

Not everyone got crushed when the market collapsed. For traders at a little-known Denver hedge fund who saw it coming, it was the score of a lifetime — a $17.5 million payday on a $200,000 bet. “People were laughing at us, saying this could never happen, this should never happen,” Justin Borus, the 41-year-old founder and manager at Denver-based Ibex Investors, said in an interview. “We saw people pricing this as a 1-in-5,000 event, but it was more like a one-in-five-year event.” Borus’s team bet that an exchange-traded fund linked to…

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Trump Says Investors Should Sue ABC for Market-Moving Report

President Donald Trump called on investors to sue ABC News after a false report about him caused the stock market to briefly plunge Friday. ABC News investigative reporter Brian Ross told viewers Friday morning that former national security adviser Michael Flynn was prepared to testify that Trump, then still a candidate, had told him to contact Russian officials. The implication that the president himself was connected to his campaign’s dealings with Russia sent the Dow Jones Industrial Average down more than 350 points before it recovered. “People who lost money…

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