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The S&P 500 is in a bull market. Here’s what that means and how long the bull might run

Published Tue, 19 Nov 2024 02:30:10 GMT

The S&P 500 is now in what Wall Street refers to as a bull market, meaning the index has risen 20% or more from its most recent low. Here are some answers to questions about bull and bear markets:WHY IT IS CALLED A BULL MARKET? Wall Street’s nickname for a surging stock market is a bull market because bulls charge, said Sam Stovall, chief investment strategist at CFRA. In contrast, bears hibernate, so bears represent a market that’s retreating. WHEN DID THE NEW BULL MARKET BEGIN?This latest bull market is considered to have begun on Oct. 13, 2022, a day after the S&P 500 closed at its most recent low of 3,577.03.WHY HAS THE MARKET RALLIED?Largely because the economy has defied predictions by not falling into a recession, at least not yet. Markets tumbled last year on fears about how the worst inflation in decades would ravage the economy. More precisely, Wall Street got spooked by the aggressive measures the Federal Reserve took to combat high inflation.The Fed has yanked in...

Polis discusses veto of affordable housing plan

Published Tue, 19 Nov 2024 02:30:10 GMT

DENVER (KDVR) — Gov. Jared Polis has said making Colorado more affordable was a top priority during his second term, but key measures to build more dense and affordable housing in the state fell short this year.The governor threw support behind a land-use bill that aimed to allow denser housing on land normally zoned for single-family homes. That bill went through several changes, but still, the measure failed. Denverites are avoiding credit card debt better than most Multiple other measures looked to provide solutions to make housing more affordable. Another bill would have given local governments right of first refusal if multi-unit properties came on the market, so long as those governments designate the units for affordable housing. But Polis vetoed the measure, saying on "Colorado Point of View" this week that it would have "added additional paperwork cost to real estate transactions. In my opinion, that would have caused upward pressure on the costs for apartments."Polis, la...

‘It had to be a hit’: Miami business owner beaten by baseball bat-wielding mystery man

Published Tue, 19 Nov 2024 02:30:10 GMT

A Miami business owner was brutally beaten with a metal baseball bat, and it was all caught on camera. Karen Hensel has tonight’s 7 Investigates. The video is clear and concerning. A local business owner is suddenly attacked by a man in a hoodie, armed with a metal baseball bat.Alex Montanez: “It had to be a hit, because I’ve never seen that guy a day in my life. Why with a baseball bat? Who beats up anybody with a baseball bat?”That is just one of the many questions haunting Alex Montanez. Alex Montanez: ” I just want to know why. I said, ‘I want to know who sent them.'”In that moment, Alex was about here, thinking he could run out of the parking lot toward the street to get away. But as you can see, this was his only way out, and it was blocked by a white SUV.Alex Montanez: “I saw the SUV, I saw a car take off to, like, block the entrance. So, in the split of a second, I’m like, ‘Oh, it’s a setup.'”The attacke...

Miami Heat players take part in ribbon-cutting for refurbished kitchen, eating area at Overtown’s CARE Elementary

Published Tue, 19 Nov 2024 02:30:10 GMT

The Miami Heat took time out from practice to provide a big assist off the court.The ribbon-cutting ceremony, held Thursday at CARE Elementary School in Miami’s Overtown neighborhood, was all part of an NBA Cares initiative that the teams participate in when their city hosts the finals.They partnered with the Miami Rescue Mission and CARE Elementary, which is a free private school for underprivileged children in Overtown, to dedicate a refurbished kitchen and eating area at the school, named the Miami Heat Food CourtThey have also created an emergency food relief fund that will provide ongoing support for students and their families.“It’s always on our mind. With the Heat, we always try to give back in any way possible, so they do a good job of stressing all the things that are going wrong in the community and ways we could help,” said Miami Heat guard Max Strus, “so always want to have that in mind and just give back whenever we can.” The players...

EU countries agree to major migration deal

Published Tue, 19 Nov 2024 02:30:10 GMT

LUXEMBOURG — Italy finally gave its blessing.Rome’s green light on Thursday evening unlocked a major deal to overhaul the EU’s asylum procedures for the first time in years after a grueling gathering of home affairs ministers in Luxembourg.“I wasn’t sure this day would come,” said Maria Malmer Stenergard, the migration minister for Sweden, which currently chairs the rotating presidency of the European Council. Other ministers hailed the deal – which was signed off by 21 countries – as “historic.”The possible accord would change both how asylum seekers are processed at the border and how they are relocated across Europe. While enough countries — including Germany and France — had come on board on Thursday afternoon, a coalition of about 10 states led by Italy blocked the agreement until the late evening.While the EU only needs majority support to push through the reform package, Italy’s support was crucial because it is one of the countries that receives the highest number of asylum ...

Passenger’s video shows Red Line train traveling down tracks with door open

Published Tue, 19 Nov 2024 02:30:10 GMT

An MBTA rider is speaking out after she recently recorded terrifying moments on her cell phone showing a Red Line train traveling down tracks with one of its doors open. As the T responds to the incident, 7NEWS recently spoke with the rider, Melody Cunningham, about the experience.Cunningham said the door first came open around Broadway Station. She said she was startled and rang an emergency button on the train asking for help. At one point, Cunningham said she and others on board tried to close the door. Near North Quincy Station, an MBTA employee who was a passenger on the train also came over to try to shut the door, though she was unsuccessful. Speaking on Thursday, Cunningham said she was disappointed to see this situation happen especially as the T continues to roll out new trains and new tracks while still facing ongoing problems. “Unacceptable,” she said. “That could have really hurt someone.” “Trains at that time are typically incredibly crowded,”...

Sexual abuse survivors by ex-head of Boston’s largest police union sue city, police, DCF

Published Tue, 19 Nov 2024 02:30:10 GMT

Several survivors of sexual abuse by the former head of Boston’s largest police union are filing suit. An attorney for two of the survivors is now speaking out.Patrick Rose, 67, pleaded guilty last year to nearly two dozen child rape charges and was sentenced to spend at least ten years behind bars. He faced a total of 21 charges in connection with the rape and abuse of six minors over various periods of time beginning in the 1990s, according to the Suffolk District Attorney’s Office.Rose was a long-time Boston Police officer and served as president of the Boston Police Patrolmen’s Association.The survivors claim authorities could have done more to protect them. Now, they are filing suit against the City of Boston, the Boston Police Department and the state’s Department of Children and Families.“The Department of Children and Families found credible evidence of the abuse, and despite all of that nothing happened,” said Janine Kutylo, the attorney for the survivors. “This perpe...

Revolution’s Carles Gil welcomes Lionel Messi to MLS

Published Tue, 19 Nov 2024 02:30:10 GMT

The timing of international superstar Lionel Messi joining MLS with Inter-Miami brings an added buzz to Saturday night’s clash (7:30) with the New England Revolution at Gillette Stadium.Messi, 35, helped guide Argentina to the 2022 World Cup championship last December and has been recognized as the sport’s best player for over a decade. Messi had multiple and more lucrative options from across from the globe to consider while his days with Paris St. Germain are set to expire on June 30.According to published reports, Messi’s contract with Inter Miami includes a $30 million signing bonus and a share of the profits generated from image rights and jersey sales that could boost his annual salary to $78 million.“Obviously it’s always a big moment for the league, for Inter Miami,” said Revolution midfielder Carles Gil following Thursday morning’s practice. “I think everybody is happy.“It will be very good for the league to continue to be a better league and obviously with the best player ...

Hot Property: Dedham home delivers

Published Tue, 19 Nov 2024 02:30:10 GMT

If you’re impressed by 577 Bridge Street in Dedham’s grand curb appeal, wait until you make your way to the rear of the jaw-dropping Colonial Revival.Close to 2.5 acres of leaf-lined serenity await you in one of the neighborhood’s most coveted homes — lushly landscaped and abutting Charles River frontage.The late-1800s home strikes a regal note at every turn. Undergoing careful renovation and loads of upgrades, the interior transitions elegantly between period glamour and modern touches where its new owners will appreciate them the most.We love the herringbone brick floors in the sunroom, the richly paneled library and home office space, and the enormous foyer that ushers you inside. In addition to the classically styled rooms with crown moulding, fireplaces, and built-ins, there are notable stylish updates here, namely to the kitchen.Sitting at the literal and figurative heart of the home, the eat-in kitchen area features an oversized island, charming desk setup, and a sunny sittin...

Malden teenager charged in connection with Revere Beach shooting: ‘Extraordinarily dangerous and reckless’

Published Tue, 19 Nov 2024 02:30:10 GMT

A 19-year-old Malden man is facing assault and weapons charges after he allegedly fired several gunshots into a crowd near Revere Beach over Memorial Day weekend.Dashawn Teleau has been charged in connection to the chaotic shooting by the popular local beach. A 17-year-old female was injured in the shooting, suffering a gunshot wound to her lower body.In addition to that shooting on the Sunday of Memorial Day Weekend, a juvenile was previously charged in connection to a separate shooting at the beach at around the same time. Three people were reportedly shot in the incidents, as several fights broke out amid an eruption of chaos in the area.Teleau is being charged for the first shooting, about two blocks from the beach. Revere Police responded to a ShotSpotter alert of seven shots fired in the area of 127 Centennial Ave.A witness to the shooting provided police with a 41-second video of the incident, which shows a large group of males fighting. One of the males — wearing gray ...