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St. Louis Pandemic Task Force to feds: ‘We need to ask for help’

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St. Louis Pandemic Task Force to feds: ‘We need to ask for help’

ST. LOUIS–Military doctors or medical teams staffed by the Federal Emergency Management Agency could be in the St. Louis area if the federal government answers a call for help from the St. Louis Metropolitan Pandemic Task Force.

On Thursday, Dr. Alex Garza, Task Force Leader, told FOX2 that it’s the first time hospitals here have needed to make the request, as hospitals not only see the most patients they’ve seen during the pandemic, but are losing staff to sick days brought on by their own COVID cases or those close to them.

“This is a reflection of where we are in the pandemic. We’re seeing more patients now than we have ever seen before in the pandemic. Unfortunately, we have our workforce is either getting ill or having that second order effect from the virus… having to take care of family members, schools closing down, things like that. We’re typically very self-sufficient in health care, we don’t like to ask for help but I think we’re at that point where we need to ask for help,” Garza said.

The move comes roughly three weeks after Missouri Governor Mike Parson ended the state of emergency which had been in place since the beginning of the pandemic. Task Force leaders have been critical of that move to end the emergency order, which allowed for expanded use of telehealth services, the ability to exceed licensed bed capacity when required by demand, took down barriers to testing and treatment of COVID 19 patients.

The timetable for a response to the request for federal help was unclear Thursday. A spokesperson for Governor Parson said his office was aware of the request, which it said went through the State Emergency Management Agency.

 

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US stocks got close to a bear market. Here’s what that means

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US stocks got close to a bear market. Here’s what that means

By STAN CHOE and ALEX VEIGA

NEW YORK (AP) — The bear came close to Wall Street but then backed off.

The stock market’s slump this year briefly pulled the S&P 500 into what’s known as a bear market Friday, before a late rally put the index in the green. The prevailing sentiment among investors remains negative, however, so the relief may be temporary.

Rising interest rates, high inflation, the war in Ukraine and a slowdown in China’s economy have caused investors to reconsider the prices they’re willing to pay for a wide range of stocks, from high-flying tech companies to traditional automakers. Big swings such as the one seen Friday have been commonplace.

The last bear market happened just two years ago, but this would still be a first for those investors that got their start trading on their phones during the pandemic. For years, thanks in large part to extraordinary actions by the Federal Reserve, stocks often seemed to go in only one direction: up. Now, the familiar rallying cry to “buy the dip” after every market wobble is giving way to fear that the dip is turning into a crater.

Here are some common questions asked about bear markets:

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WHY IS IT CALLED A BEAR MARKET?

A bear market is a term used by Wall Street when an index like the S&P 500, the Dow Jones Industrial Average, or even an individual stock, has fallen 20% or more from a recent high for a sustained period of time.

Why use a bear to represent a market slump? Bears hibernate, so bears represent a market that’s retreating, said Sam Stovall, chief investment strategist at CFRA. In contrast, Wall Street’s nickname for a surging stock market is a bull market, because bulls charge, Stovall said.

The S&P 500 index, Wall Street’s main barometer of health, rose less than 1 point Friday, leaving it 18.7% below its high set on Jan. 3. The Nasdaq is already in a bear market, down 29.3% from its peak of 16,057.44 on Nov. 19. The Dow Jones Industrial Average is about 15% below its most-recent peak.

The most recent bear market for the S&P 500 ran from February 19, 2020 through March 23, 2020. The index fell 34% in that one-month period. It’s the shortest bear market ever.

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WHAT’S BOTHERING INVESTORS?

Market enemy No. 1 is interest rates, which are rising quickly as a result of the high inflation battering the economy. Low rates act like steroids for stocks and other investments, and Wall Street is now going through withdrawal.

The Federal Reserve has made an aggressive pivot away from propping up financial markets and the economy with record-low rates and is focused on fighting inflation. The central bank has already raised its key short-term interest rate from its record low near zero, which had encouraged investors to move their money into riskier assets like stocks or cryptocurrencies to get better returns.

Earlier this month, the Fed signaled additional rate increases of double the usual amount are likely in upcoming months. Consumer prices are at the highest level in four decades, and rose 8.3% in April compared with a year ago.

The moves by design will slow the economy by making it more expensive to borrow. The risk is the Fed could cause a recession if it raises rates too high or too quickly.

Russia’s war in Ukraine has also put upward pressure on inflation by pushing up commodities prices. And worries about China’s economy, the world’s second largest, have added to the gloom.

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SO, WE JUST NEED TO AVOID A RECESSION?

Even if the Fed can pull off the delicate task of tamping down inflation without triggering a downturn, higher interest rates still put downward pressure on stocks.

If customers are paying more to borrow money, they can’t buy as much stuff, so less revenue flows to a company’s bottom line. Stocks tend to track profits over time. Higher rates also make investors less willing to pay elevated prices for stocks, which are riskier than bonds, when bonds are suddenly paying more in interest thanks to the Fed.

Critics said the overall stock market came into the year looking pricey versus history. Big technology stocks and other winners of the pandemic were seen as the most expensive, and those stocks have been the most punished as rates have risen. But the pain is spreading widely, with shares of Target and other retailers slumping hard this week after reporting weaker-than-expected profits.

Stocks have declined almost 35% on average when a bear market coincides with a recession, compared with a nearly 24% drop when the economy avoids a recession, according to Ryan Detrick, chief market strategist at LPL Financial.

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SO I SHOULD SELL EVERYTHING NOW, RIGHT?

If you need the money now or want to lock in the losses, yes. Otherwise, many advisers suggest riding through the ups and downs while remembering the swings are the price of admission for the stronger returns that stocks have provided over the long term.

While dumping stocks would stop the bleeding, it would also prevent any potential gains. Many of the best days for Wall Street have occurred either during a bear market or just after the end of one. That includes two separate days in the middle of the 2007-2009 bear market where the S&P 500 surged roughly 11%, as well as leaps of better than 9% during and shortly after the roughly monthlong 2020 bear market.

Advisers suggest putting money into stocks only if it won’t be needed for several years. The S&P 500 has come back from every one of its prior bear markets to eventually rise to another all-time high.

The down decade for the stock market following the 2000 bursting of the dot-com bubble was a notoriously brutal stretch, but stocks have often been able to regain their highs within a few years.

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HOW LONG DO BEAR MARKETS LAST AND HOW DEEP DO THEY GO?

On average, bear markets have taken 13 months to go from peak to trough and 27 months to get back to breakeven since World War II. The S&P 500 index has fallen an average of 33% during bear markets in that time. The biggest decline since 1945 occurred in the 2007-2009 bear market when the S&P 500 fell 57%.

History shows that the faster an index enters into a bear market, the shallower they tend to be. Historically, stocks have taken 251 days (8.3 months) to fall into a bear market. When the S&P 500 has fallen 20% at a faster clip, the index has averaged a loss of 28%.

The longest bear market lasted 61 months and ended in March 1942 and cut the index by 60%.

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HOW DO WE KNOW WHEN A BEAR MARKET HAS ENDED?

Generally, investors look for a 20% gain from a low point as well as sustained gains over at least a six-month period. It took less than three weeks for stocks to rise 20% from their low in March 2020.

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Veiga reported from Los Angeles. __ Follow more of AP’s business coverage at

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What Did Taylor Swift Study At NYU

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What Did Taylor Swift Study At NYU

Blank Space singer Taylor Swift has graduated from New York University, well, and accepted an honorary Doctor of Fine Arts.

She didn’t go to the University, but she’s been offered the honorary doctorate. An honorary award is usually given to the celebs by a University; to honor their achievements in certain areas of expertise. The universities relinquish all the standard requirements, such as sitting in exams and studying, and offer them doctorates as praise.

What Degree Did Taylor Swift Receive?

 On Wednesday, the 18th of May, Taylor Swift was presented with an honorary degree of Doctorate of Fine Arts by the New York University. This Degree celebrates her achievements in the music industry, and she can now be called Doctor Taylor Swift officially.

She has given 9 original albums and has won 29 Billboard Music Awards, 34 American Music Awards, and 11 Grammys.

People think she is originally from New York, but she was born in Tennessee. New York University has been a big fan of hers; given that is why she chose her to honor with a degree. The University has even dedicated courses to her music, writing, and business.

In an official press release, the University celebrated Taylor’s many accomplishments. It said she’s the most prolific and eminent artist of her generation; and the only female artist to win a Grammy for album of the year thrice.

Due to the intricate nature of artistic force, Taylor could not resume her studies and dedicated her time to the music industry, which ultimately paid off well.

In her speech to NYUs class 2022, she said it can an astounding when you’re figuring out who you want to be, who you are now; and how to take steps to go where you want to go. She said she has good news that it’s totally up to you to figure out, and she also has bad news. It’s totally up to you.

1653079964 564 What Did Taylor Swift Study At NYU

Taylor Accepts The Degree.

Taylor accepts the honor on Wednesday at New York University, 2022. In the opening line, she mentioned that the last time she was in the size of this stadium, and wore a glittery leotard and heels; what she is wearing now is much more comfortable.

Later she thanked the University for the degree and added that she was 90% sure she was here because of her song 22. Later she thanked the University that it made her doctor; at least on paper, and jokingly said she was not the type of doctor one would want in case of an emergency.

She continued her speech, thanked her family, told how she had never had a normal college experience, and congratulated the students who managed the college during the pandemic. 

The post What Did Taylor Swift Study At NYU appeared first on Gizmo Story.

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Dane Mizutani: Wild GM Bill Guerin doesn’t regret Zach Parise-Ryan Suter buyouts, and he shouldn’t

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Dane Mizutani: Vikings coach Kevin O’Connell is not Jim Harbaugh, which is kind of the point

For the next few seasons, the Wild are going to be in salary-cap hell. They made sure of that last offseason by paying Zach Parise and Ryan Suter to go away.

More specifically, general manager Bill Guerin made sure of that by having the guts to make such a big move.

Though he understood the financial implications of the buyouts — $12.74 million in dead-cap money in 2022-23, $14.74 million in dead cap in 2023-24 and $14.74 million in dead cap in 2024-25 — Guerin believed it was the only way the Wild were ever going to make the leap to having a chance of being a Stanley Cup contender.

The status quo wasn’t working. Something needed to change.

With a fresh start this season, the Wild finished the regular season with an impressive 53-22-7 record and a franchise-record 113 points before losing to the St. Louis Blues in the first round of the playoffs.

Question: Were the buyouts worth it? Answer: Absolutely.

While it might be hard to see progress after another early exit in the playoffs, the Wild are in much a better place heading into this offseason.

It finally feels as if this group is building toward something bigger, not scratching and clawing simply to stay on the periphery of the playoff picture.

With captain Jared Spurgeon in charge, and alternate captains Marcus Foligno and Matt Dumba leading alongside him, the Wild felt different on and off the ice this season.

It actually felt like a team rather than a bunch of individuals who happen to work together.

“This is the first season (since I’ve been here) that management, coaches and players alike were able to do things exactly the way we wanted to do them,” Guerin said. “We took such a big step in the right direction in my mind, and that gives me a lot of hope for what’s to come.”

It doesn’t take a genius to read between the lines of that response. Though he never referred to them by name, Guerin was talking about Parise and Suter no longer being around.

They left and the culture got better. It’s as simple as that.

As much as Parise and Suter deserve credit for helping the franchise return to relevance — the Wild only missed the playoffs once during their near-decade-long tenure in the Twin Cities — they were also at the epicenter of a locker room that was rarely on the same page.

It’s no coincidence that Spurgeon, Foligno and Dumba go out of their way to talk about the inclusiveness inside the locker room nowadays.

It’s no coincidence that coach Dean Evason constantly mentions how much his players “love” each other.

It’s no coincidence that Guerin hasn’t for a nanosecond regretted the buyouts despite the financial implications.

“I’d do it again,” Guerin said. “We knew exactly what position we were putting ourselves in. We’re just going to deal with it. It’s not something where we go into the office like, ‘Oh god, we’ve got to deal with this.’ No. This is it. We knew what we were doing.”

Now, there’s no doubt the buyouts will make things more difficult on the Wild in the short term. They most likely won’t be able to afford star winger Kevin Fiala this offseason because of the dead cap, and beyond that, Guerin will have to do some finagling to fill out his roster.

But Guerin is confident the Wild will be just as competitive next season because of the culture they have in place.

“We’ve made some moves over the last couple of seasons to kind of mold things,” Guerin said. “We wanted to create something that was special without any obstacles in the way.”

Those obstacles are gone. Now the Wild need to continue moving in the right direction. They can no longer blame Parise and Suter for their shortcomings.

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