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The man suspected of killing a reporter and cameraman of CBS Corp. affiliate WDBJ7 in Virginia has died from a self-inflicted gunshot wound, the television station reported, citing Franklin County Sheriff Bill Overton. Vester Lee Flanigan, also known as Bryce Williams, shot himself after being confronted by authorities on Interstate 66 in Faquier County, Va., around 11:30 a.m. Eastern Time, about five hours after allegedly killing cameraman Adam Ward and reporter Alison Parker, according to the station. Flanigan, who later died at a Northern Virginia hospital, used to be employed by WDBJ7.

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From:: Stock Market News

Google Inc. has launched YouTube Gaming on Wednesday, a videogame streaming platform that is the Internet giant’s answer to Amazon’s Twitch. Google gave the heads up in June, that the new app and website would be launching in the summer, starting in the U.S. and U.K. “Blending gaming videos and live streams, YouTube Gaming brings you closer to the games, gamers and culture that matter to you,” wrote YouTube engineering manager Frank Petterson on YouTube’s official blog. Google’s stock surged 5.2% in afternoon trade, after tumbling 12% over the previous four sessions. It was still up 21% year to date, while the S&P 500 has lost 7.4%. Amazon’s stock climbed 5.2% Wednesday, after shedding 12% the past four sessions. Amazon bought Twitch last summer for just under $1 billion.

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From:: Stock Market News

The Dow Jones Industrial Average’s rally Tuesday is looking like what technicians refer to as a “dead cat bounce,” which could be interpreted as worrisome for bulls. “[A] Dead Cat Bounce (DCB) is a term for a failed rally after a sharp decline,” according to the Market Technicians Association’s Knowledge Base. The Dow was up 227 points in midday trade, but had been up as much as 434 points at the intraday high of 16,100.11, which was reached at about 9:34 a.m. Eastern. That high failed to reach Tuesday’s high of 16,313, hit at 11:23 a.m., which in turned failed to reach the high of Monday’s intraday bounce at 16,361, hit at 1:11 p.m. With Tuesday’s apparent “dead cat bounce,” the Dow turned a 442-point intraday gain into a closing loss of 205 points. Wednesday’s bounce might look even more like a “dead cat” given that the Dow had tumbled 1,682 points over the past four sessions, producing the first-ever four-session streak of 200+-point declines.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

The man suspected of killing a reporter and cameraman of CBS Corp. affiliate WDBJ7 in Virginia is in critical condition after shooting himself, the television station reported, citing state police. Vester Lee Flanigan, also known as Bryce Williams, shot himself after being confronted by authorities on Interstate 66 in Faquier County, Va., around 11:25 a.m. Eastern Time, about five hours after allegedly killing cameraman Adam Ward and reporter Alison Parker, according to the station. Flanigan used to be employed by WDBJ7.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Car sharing will replace 2.34 to 3.38 million private cars around the world by 2016, according to analysis firm TrendForce. Noting that these are preliminary projections, the China-based firm says big growth in 2014 car sharing was led by Europe, where it says car-sharing originated, and Asia, where lacking public transportation options and expensive license plate applications have turned Chinese consumers toward car-sharing. By 2016, TrendForce says it expects more than 15 million members in the global car sharing market and more than 260,000 vehicles. “On the whole, car sharing has significant cost-performance advantage over other transportation methods, including carpooling,” said Eric Chang automotive, electronics analyst at TrendForce.

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From:: Stock Market News

The case for a rate hike in September is “less compelling” given international developments and volatility in financial markets, said William Dudley, the president of the New York Fed, on Wednesday. In brief remarks followed by questions from the press, Dudley said downside risks have risen given the slowdown in China, the drop in commodity prices, and the market gyrations. He noted that his views could change before the U.S. central bank meets on Sept. 16-17. Dudley said a drop in the stock market must be persistent to impact consumer spending. Dudley is an important voice because he is seen as a close ally of Fed Chairwoman Janet Yellen. Dudley said the Fed pays attention international events, like the recent slowdown in China, to gauge how it may impact the U.S. economic outlook.

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From:: Stock Market News

Amazon.com Inc was upgraded on Wednesday to buy from hold at Evercore ISI. Analysts there cite Amazon’s “scale and opportunity for margin expansion” in online retail and in the infrastructure-as-a-service, or cloud, market. “While we have cited valuation concerns in the past (notably ahead of the prior quarter’s result), Amazon nevertheless is showing strengthening secular presence, which is manifesting itself in
an improved margin profile and overall outlook,” the firm wrote in a note. The firm’s price target of $585 remains unchanged. Amazon stock has soared 57% year-to-date, compared with a 7.3% decline in the S&P 500. The retailer’s stock is up 4.3% in morning trade.

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From:: Stock Market News

Oil prices turned lower Wednesday after the U.S. Energy Information Administration reported a weekly decline in crude supplies, but also said that petroleum-product inventories climbed. Crude stockpiles fell 5.5 million barrels for the week ended Aug. 21. Analysts polled by Platts forecast a crude-stock rise of 1.9 million barrels, while the American Petroleum Institute Tuesday said supplies dropped 7.3 million barrels, according to sources. Gasoline supplies, however, rose unexpectedly by 1.7 million barrels while distillate stockpiles climbed 1.4 million barrels last week, according to the EIA. October crude was at $39.16 a barrel, down 15 cents, or 0.3%, on the New York Mercantile Exchange. Prices traded at $39.35 before the report.

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From:: Stock Market News

A reporter and cameraman were shot and killed in Virginia during an on-air interview Wednesday morning. The pair were affiliated with station WDBJ7, according to Reuters. According to reporters, the journalists killed in Bedford County, Virginia were Alison Parker and Adam Ward. There is no information on a motive for the shooting.

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From:: Stock Market News

U.S. stocks opened with big gains on Wednesday, as fresh stimulus from China’s central bank as well as upbeat data on durable-goods orders boosted confidence. If the main benchmarks close at the levels they opened, it would be their biggest gains. The Dow Jones Industrial Average jumped 422 points, or 2.7%, to 16,077. The S&P 500 opened 44 points, or 2.4% higher at 1,912. The Nasdaq Composite began the day up 122 points, or 2.7% at 4,627.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News