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AFL-CIO Leads Unions in Rejecting Green New Deal

The AFL-CIO Energy Committee has issued a letter to the Democrats pushing for a Green New Deal, rejecting the proposal as "not achievable or realistic," according to the Washington Examiner.

The AFL-CIO's letter was written on behalf of eight other unions, including North America's Building Trades Unions and United Steelworkers, and sent to Sen. Ed Markey, D-Mass., and Rep. Alexandria Ocasio-Cortez, D-N.Y., who introduced the Green New Deal resolution last month.

"We welcome the call for labor rights and dialogue with labor, but the Green New Deal resolution is far too short on specific solutions the speak to the jobs our members and the critical sectors of the economy," the AFL-CIO said in the letter. "We will not accept proposals that could cause immediate harm to millions of our members and their families. We will not stand by and allow threats to our members' jobs and their families’ standard of living go unanswered."

Sen. John Barrasso, R-Wyo., tweeted Monday night he agrees with the AFL-CIO.

"The [AFLCIO], which represents 12.5 million workers & includes 55 labor unions, slams the [Green New Deal] in a letter to [Markey and Ocasio-Cortez]:

"'We will not accept proposals that could cause immediate harm to millions of our members and their families.'

"I agree with the AFL-CIO."

Markey responded to the letter, and to Sen. Barrasso, on Twitter on Tuesday morning:

"We will continue to work and partner [with the AFL-CIO], who is right to say that 'doing nothing is not an option.' But until Republicans say that climate change is real, caused by humans, and demands action now, the only people they are in agreement with are Big Oil and the Koch brothers."

Source: NewsMax America

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Numbers game: How Thailand’s election system favors pro-army parties

Thailand's Prime Minister Prayut Chan-o-cha talks with a man as he visits Lumphini Park ahead of the general election, in Bangkok
Thailand's Prime Minister Prayut Chan-o-cha talks with a man as he visits Lumphini Park ahead of the general election, in Bangkok, Thailand, March 20, 2019. REUTERS/Soe Zeya Tun

March 21, 2019

BANGKOK (Reuters) – Thailand goes to the polls on Sunday under a new system that critics say the military government has devised to prevent the most popular political party, which has won every election since 2001, from returning to power.

The military government says the new rules will usher in stability after more than a decade of fractious, at times violent, politics.

After a government loyal to former Prime Minister Thaksin Shinawatra was ousted in a 2014 coup, the military for years banned political activity, suppressed debate, restricted the media and detained dissidents.

Sunday’s general election will officially restore civilian rule but the military will retain a decisive role in politics under a new constitution, and the former army chief who led the 2014 coup, Prime Minister Prayuth Chan-ocha, is hoping to stay on as head of an elected government.

Following are some details about the new system that supporters of the self-exiled Thaksin say is aimed at blocking them from winning.

THE SENATE

The 250-seat upper house Senate is entirely appointed by the ruling junta. Under the previous constitution, the Senate was only partially appointed.

The Senate will for the first time since 1978 vote along with the lower house, the 500-seat House of Representatives, to choose the new prime minister and government.

Previously, only members of the lower house voted for prime minister.

The magic number of seats parties or alliances need to secure to form a government is 376 – 50 percent plus one of the total number in the two houses of parliament.

With the military choosing all Senate members, including seats reserved for six heads of different armed forces branches, pro-military parties would likely need to win only 126 seats in the House of Representatives to win a majority in a combined vote.

Anti-junta parties, on the other hand, which can’t count on any Senate votes, would need to win 376 seats lower house seats to gain a majority.

THE HOUSE OF REPRESENTATIVES

The makeup of the 500-seat House of Representatives is what will be decided on Sunday, but not all seats are directly elected.

Under the new constitution, the House of Representatives has 350 “constituency seats”, to which voters on Sunday will directly elect a candidate and, by default, their preferred party.

It also has 150 “party seats”, up from 125 previously.

THE FORMULA FOR PARTY SEATS

Party seats are allocated under a complicated system that big parties, like Pheu Thai, the main pro-Thaksin party, say is disadvantageous for them.

Party seats are distributed by a system that “caps” the total number of seats any one party can gain, based on their percentage of total votes cast nationwide.

The “value” one seat in the House of Representatives is assigned is based on a formula that takes the total number of votes cast and divides it by the 500 seats. So, if 40 million people were to vote on Sunday, the value of one House seat would be 80,000 votes.

A party cannot win more seats than it has “earned” in total votes nationwide. And if a party has already reached or is close to its cap in constituency seats, then it cannot get any more party seats than that cap allows.

If a party wins more constituency seats than its cap, then it keeps those seats but cannot be awarded any party seats even if it was the top vote getter.

The system leaves a bigger pie of party seats for smaller parties to divide up. This will likely result in numerous smaller parties that normally would not have won any seats, awarded one or more party seats.

To illustrate the impact of the new rules, Pheu Thai won the last election, in 2011, with 204 constituency seats and then 61 party seats – awarded under a directly proportional system – as it won 48 percent of the total vote. That gave it a majority of 265 seats in the House of Representatives.

If it were to win the same number of votes this time, the new rules would mean it would end up with 42 fewer seats, which would leave it short of a majority.

CHOOSING PRIME MINISTER

A party must have at least 25 seats in the House of Representatives to nominate a candidate for prime minister.

After that, it will take the support of 376 out of 750 members of the combined houses to become prime minister.

Because the junta will have already chosen all 250 seats of the Senate, the main Palang Pracharat party allied to the military needs to gain only 126 more votes in the lower house.

That’s a huge advantage, though not a guarantee.

If no coalition can agree on prime minister, the new constitution also allows for an “outside” prime minister who is not a member of parliament.

(Writing by Chayut Setboonsarg and Kay Johnson; Editing by Robert Birsel)

Source: OANN

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Bangladesh commandos shoot purported hijacker of Biman Bangladesh plane

Security personnel stand guard outside of the hijacked aircraft of the Biman Bangladesh Airlines in the Shah Amanat International Airport in Chattogram
Security personnel stand guard outside of the hijacked aircraft of the Biman Bangladesh Airlines in the Shah Amanat International Airport in Chattogram, Bangladesh February 24, 2019. REUTERS/Stringer

February 26, 2019

By Serajul Quadir

DHAKA (Reuters) – Bangladeshi commandoes shot a passenger on Sunday who had tried to enter the cockpit of a Biman Bangladesh Airlines flight after waving a gun and threatening to blow up the plane, airline and aviation authority officials said.

The passenger, who had said he had a personal issue with his wife and told the pilot he wanted to speak to Bangladesh’s Prime Minister Sheikh Hasina, died later from the injuries suffered after the commandos stormed the plane at Chittagong’s Shah Amanat International Airport, officials said.

“We tried to arrest him or get him to surrender but he refused and then we shot him,” said Major General S M Motiur Rahman of the Bangladesh Army.

The man’s threat to blow up the plane, which was on its way to Dubai from Dhaka via Chittagong, led its pilots to make an emergency landing.

Before the commandos moved in, all 142 passengers and most of the crew had been let off the aircraft unharmed. One crew member had been held hostage, the officials said.

Air Vice Marshal Nayeem Hasan, chairman of the Civil Aviation Authority of Bangladesh, told reporters at a news conference that as well as holding what appeared to be a pistol the passenger said he had explosives bound to his body.

With the plane close to Chittagong after leaving Dhaka, the passenger stood up from his seat and tried to go to the cockpit, according to aviation officials. When a member of the crew blocked his way, he showed his pistol.

He then said he had explosives and if they didn’t open the door of the cockpit he would blow up the plane, officials said. Other members of the crew alerted the pilots to the problem and they asked air traffic control for an emergency landing.

It was not immediately clear if he had explosives, though the pistol was real, according to a senior aviation official. It also wasn’t immediately clear if the pistol was loaded or how it got through security at the airport in Dhaka.

The security questions are a matter of concern and would be the subject of an investigation, said the aviation official.

The man appeared to be in his 20s, and was probably Bangladeshi as he was speaking Bangla, but his identity was not yet clear, Hasan said.

(Reporting by Serajul Quadir; Writing by Martin Howell; Editing by Keith Weir and David Holmes)

Source: OANN

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Delta Air Lines stock could fly higher: Barron’s

A Delta Air Lines Boeing 737 plane arrives in Salt Lake City
A Delta Air Lines Boeing 737-800 plane arrives in Salt Lake City, Utah, U.S., January 12, 2018. REUTERS/Mike Blake

March 10, 2019

(Reuters) – Delta Air Lines Inc stock could jump into the mid $60s per share from around $50 now if it can hit its earnings target of $6 to $7 a share this year, up from $5.65 in 2018, according to an analyst in a Barron’s article on Sunday.

Atlanta-based Delta is “the leader in fare segmentation, international alliances, and technology, as well as maintenance and repair,” said Ross Margolies, who heads Stelliam Investment Management, in the article.

The article noted rumors that Warren Buffett’s Berkshire Hathaway Inc could be interested in buying an airline, noting Berkshire already owns about 10 percent of each of the four major U.S. carriers: Delta, Southwest Airlines Co, United Continental Holdings inc, and American Airlines Group Inc.

The article said “Buffett appears to be most enamored” with Delta. In a filing Friday, Berkshire disclosed that it recently lifted its stake in Delta by 5.4 million shares and now holds 70.9 million shares, a 10.4 percent stake.

Officials at Delta were not immediately available for comment.

(Reporting by Scott DiSavino; Editing by Marguerita Choy)

Source: OANN

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HSBC’s 2018 profit misses estimates; China weakness poses growth risks

FILE PHOTO: The HSBC bank logo at the bank's Canary Wharf offices
FILE PHOTO: The HSBC bank logo at the bank's offices in the Canary Wharf financial district in London, Britain, March 3, 2016. REUTERS/Reinhard Krause/File Photo

February 19, 2019

HONG KONG/LONDON (Reuters) – HSBC Holdings Plc posted on Tuesday a 15.9 percent rise in 2018 profit, supported by business growth in its core markets of Asia and Britain, but market weakness in the fourth quarter resulted in the bank missing street estimates.

An economic slowdown in China, the world’s second-largest economy, poses a challenge to the bank’s strategy of pouring more resources into Asia where it already makes over three quarters of its profits.

HSBC reported a profit before tax of $19.9 billion for 2018 compared with $17.2 billion the year before. The profit for the year, however, was below an average estimate of $22 billion, according to Refinitiv data based on forecasts from 17 analysts.

Europe’s biggest bank by market capitalization said it would pay a full-year dividend of $0.51 per share, roughly in line with analysts’ expectations. The bank was confident of maintaining the dividend at this level, it said.

“Despite more challenging market conditions at the end of the year and a weaker global economic outlook, we are committed to the targets we announced in June,” HSBC CEO John Flint said in the statement.

In the first public outlining of his strategy at the helm of HSBC, Flint had said in June that HSBC would invest $15-$17 billion in the next three years in areas including technology and China, while keeping profitability and dividend targets little changed.

“We will be proactive in managing costs and investment to meet the risks to revenue growth where necessary, but we will not take short-term decisions that harm the long-term interests of the business.”

China’s economic growth slowed to 6.6 percent in 2018, the weakest in 28 years, weighed down by rising borrowing costs and a clampdown on riskier lending that starved smaller, private companies of capital and stifled investment.

Flint, who completed his first year in charge of the lender, said that the bank remained alert to the downside risks of the current economic environment, global trade tensions and the future path of interest rates.

The lender’s core capital ratio, a key measure of financial strength, fell to 14 percent at end-December from 14.5 percent at the end of 2017, mainly due to adverse foreign exchange movements, it said in the statement.

(Reporting By Sumeet Chatterjee and Lawrence White; additional reporting by Alun John in Hong Kong; Editing by Himani Sarkar and Muralikumar Anantharaman)

Source: OANN

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New Mexico declares state of emergency over influx of migrants: report

A New Mexico county on Wednesday declared a state of emergency over an influx of immigrants crossing the border in recent months and asked the governor to send in the National Guard for protection, according to a report.

Otero County, which touches neighboring El Paso, issued a declaration Wednesday that urged Democratic Gov. Michelle Lujan Grisham to deploy National Guard Troops and reopen Customs and Border Patrol checkpoints to stem the flow of drugs and other illegal activity at the border, The Alamogordo Daily News reported.

Grisham’s predecessor, Gov. Susana Martinez, deployed 200 National Guard troops to New Mexico’s border with Mexico in April 2018. But Grisham removed the guardsmen from the border ahead of President Trump’s State of the Union, in a rejection of “the federal contention that there exists an overwhelming national security crisis at the southern border, along which are some of the safest communities in the country.”

YUMA, ARIZONA MAYOR DECLARES EMERGENCY OVER MIGRANT SITUATION

Otero County Commissioners have threatened legal action if their demands were not met in one week.

“If this demand is not met by the State of New Mexico in one week’s time, the County of Otero will take action itself to provide security and safety and well-being for the people in this county,” Otero County Commission Chairman Couy Griffin said.

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The county’s board of commissioners voted unanimously on the declaration. In response, Grisham’s office said the “National Guard does not and would not operate federal checkpoints,” and instead directed Otero County officials to the Department of Homeland Security and Emergency Management for assistance.

Source: Fox News National

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The Latest: Wealthy Russian dies in plane crash in Germany

The Latest on a small plane crash in central Germany (all times local):

9:40 p.m.

Russian airline operator S7 Group says that co-owner Natalia Fileva, one of Russia's richest women, has died in the crash of a small plane in Germany.

The airline's press service said in an email Sunday that Fileva, 55, was aboard a single-engine, six-seat Epic-LT aircraft that crashed in a field on approach to the small airport at the town of Egelsbach in southwestern Germany about 3:30 p.m.

German police said there appeared to be three people aboard the plane, including the pilot of the flight, which originated in France. They said that positive identification of the occupants would require further investigation.

German aviation authorities were probing the cause of the crash.

Business publication Forbes.ru estimated Fileva's fortune at $600 million.

___

8:15 p.m.

German police say a pilot and two passengers are believed to have died in the crash of a small airplane near Frankfurt and two more people died in a collision with a police vehicle responding to the scene.

Police said the six-seater airplane took off in France and was on its way to the central German town of Egelsbach when it crashed and burned in a field Sunday afternoon near Erzhausen, 10 kilometers (6 miles) south of Frankfurt.

Police said they believed three people were aboard but said they were still working on positive identification of the victims as well as confirming the number of occupants.

The dpa news agency, citing police, reported that three people in a police vehicle were seriously injured in the traffic crash while the two people in the other car died.

Source: Fox News World

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FILE PHOTO: An aerial photo looking north shows shipping containers at the Port of Seattle and the Elliott Bay waterfront in Seattle
FILE PHOTO: An aerial photo looking north shows shipping containers at the Port of Seattle and the Elliott Bay waterfront in Seattle, Washington, U.S. March 21, 2019. REUTERS/Lindsey Wasson/File Photo

April 26, 2019

NEW YORK (Reuters) – U.S. economic growth is running at a 1.1% pace in the second quarter as the gains in exports and inventories recorded in the first quarter are expected to reverse, Morgan Stanley economists said on Friday.

“Our preliminary expectations for growth in the second quarter sees large drags from net exports and inventories after their contributions in 1Q,” they wrote in a research note.

Gross domestic product increased at a 3.2% annualized rate in the first three months of the year, driven by a smaller trade deficit and the largest accumulation of unsold merchandise since 2015, the Commerce Department said earlier Friday.

(Reporting by Richard Leong)

Source: OANN

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FILE PHOTO: The Deutsche Bank headquarters are pictured in Frankfurt
FILE PHOTO: The Deutsche Bank headquarters are pictured in Frankfurt, Germany, April 25, 2019. REUTERS/Ralph Orlowski/File Photo

April 26, 2019

By Tom Sims

FRANKFURT (Reuters) – Within hours of the collapse of merger talks with Commerzbank, Christian Sewing scrambled to convince investors and employees that Deutsche Bank can stand on its own two feet.

The Deutsche Bank chief executive told staff, many of whom opposed a merger because of significant job losses, that while he had not been “skeptical” about the Commerzbank talks, he was cautious about the chances of success from the start.

And another top Deutsche Bank executive said on Friday that it had been Commerzbank that initiated the talks, suggesting there was no desperation on their part for a deal.

Commerzbank denied that version of events, ending the apparent truce between the normally highly competitive cross-town Frankfurt rivals over the past six weeks.

German hopes of creating a national banking champion able to challenge global competitors were finally dashed on Thursday when Deutsche Bank and Commerzbank ended their talks due to the risks of doing a deal, restructuring costs and capital demands.

For Sewing, the failure to clinch a deal has left the 49-year-old chief executive of Germany’s largest bank, who took over just over a year ago, with his back to the wall.

Credit ratings agency Standard & Poor’s, which downgraded Deutsche Bank last year, said on Friday that Deutsche Bank “will remain under strain”, adding that it “seems to have acknowledged the need to adjust its strategy”.

Under Sewing, a new leadership has tried to revive Deutsche Bank’s fortunes, but it has faced money laundering allegations and failed stress tests, as well as ratings downgrades.

At the heart of the debate over its future is whether it should focus its business on Germany and draw a line under its costly global ambitions to take on Wall Street’s big guns.

“MARKET PLAY”

Without a deal, Deutsche Bank now finds itself back at the mercy of equity and debt markets, with UBS analysts warning that in a “stress scenario” it could again “be forced into a ‘debt-driven capital increase’ even with solid capital ratios”.

“Deutsche remains a levered market play vulnerable to external events,” the UBS analysts said in a note.

Sewing, along with many analysts, believes Deutsche Bank can go it alone in the short-term, but will be counting on a turnaround in market conditions to do so in the long-run given its dependence on volatile investment bank earnings.

“To reach our return objective, we also need to see a revenue recovery in our more market-sensitive business,” Sewing said on Friday after reporting results.

“These revenues are available to us in better market conditions given our leading positions in many of these businesses, but we need to capture them,” he added.

Revenue at Deutsche Bank’s bond trading division fell 19 percent in the first quarter, it said on Friday, underscoring weakness at its investment bank.

If those earnings do not improve, Berlin’s desire to keep its biggest bank out of foreign hands may start to wane.

“Germany’s globally active companies need competitive financial institutions that can support them around the world,” German finance minister Olaf Scholz said on Thursday.

(Writing by Alexander Smith; Editing by Keith Weir)

Source: OANN

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Panama's former president Ricardo Martinelli yells to the media while arriving to the Electoral Court in Panama City
Panama’s former president Ricardo Martinelli reacts to the media while arriving to the Electoral Court in Panama City, Panama April 26, 2019. REUTERS/Erick Marciscano

April 26, 2019

PANAMA CITY (Reuters) – Panama’s electoral tribunal has ruled that former President Ricardo Martinelli, who is awaiting trial on wiretapping charges, cannot take part in elections on May 5 in which he was running for mayor of Panama City and a seat in Congress, a spokesman for Martinelli said on Friday.

“The ruling of the electoral tribunal has disqualified him as candidate,” said the spokesman, Eduardo Camacho, calling the court’s ruling a “political decision.”

Officials at the tribunal did not immediately confirm the ruling, which also was reported in local media in Panama.

Martinelli, a supermarket tycoon who ran the Central American country from 2009 to 2014, was extradited to Panama last June from the United States and charged with spying on 150 people, including politicians, union leaders and journalists.

A judge had previously cleared Martinelli to run for mayor of the capital. His critics vowed to appeal that decision.

(Reporting by Elida Moreno and Stefanie Eschenbacher; Editing by Bill Trott)

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FILE PHOTO: Amazon boxes are seen stacked for delivery in the Manhattan borough of New York City
FILE PHOTO: Amazon boxes are seen stacked for delivery in the Manhattan borough of New York City, January 29, 2016. REUTERS/Mike Segar/File Photo

April 26, 2019

(Reuters) – Shares of Walmart, Target and other U.S. retailers fell on Friday as Amazon.com Inc unveiled a one-day delivery plan for its Prime members in a move to further disrupt the fiercely competitive retail landscape.

The e-commerce giant’s announcement on Thursday could cause other brands, manufacturers, retailers, and logistics companies to have to invest more aggressively to compete with Amazon and its delivery, analysts said.

Retailers in recent years have poured billions into ecommerce and faster shipping options and are trying to close the gap with Amazon.

“This is about making it more expensive to catch up and affirms our world view that only the largest and smartest will survive,” Bernstein analyst Brandon Fletcher said.

The move is expected to heighten consumer expectations on e-commerce delivery just like Amazon did with its two-day shipping option for members of its loyalty club Prime, noted analysts.

“The faster you ship, the more people buy,” RBC Capital Markets analyst Mark Mahaney said.

The challenge for non-Amazon players was that very few of the existing logistics and parcel delivery players now have the ability to do nationwide one-day delivery, Morgan Stanley analyst Brian Nowak said.

“And even fewer can do it at the vast scale and reasonable cost that AMZN would need for Prime delivery,” Nowak said in a note.

Walmart Inc’s shares fell about 3 percent, while Target Corp dropped about 5 percent in morning trade.

Shares of Kohl’s Corp, Macy’s Inc and Nordstrom Inc fell about 1 percent. Grocer Kroger Co was nearly 3 percent lower, while consumer electronics retailer Best Buy Inc dropped 2.1 percent.

(Reporting by Soundarya J and Akanksha Rana in Bengaluru; Editing by Maju Samuel)

Source: OANN

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A Chinese woman adjusts a Chinese national flag next to U.S. national flags before a Strategic Dialogue expanded meeting, part of the U.S.-China Strategic and Economic Dialogue (S&ED) in Beijing
A Chinese woman adjusts a Chinese national flag next to U.S. national flags before a Strategic Dialogue expanded meeting, part of the U.S.-China Strategic and Economic Dialogue (S&ED) held at the Diaoyutai State Guesthouse in Beijing, July 10, 2014. REUTERS/Ng Han Guan/Pool (CHINA – Tags: POLITICS BUSINESS)

April 26, 2019

By April Joyner

NEW YORK (Reuters) – Even as the lift from optimism over prospects for U.S.-China trade detente shows signs of wearing off for the wider U.S. stock market, upbeat sentiment around China’s economy could bolster shares of materials companies.

Shares of S&P 500 industrial and technology companies, which were buffeted by last year’s tit-for-tat tariffs as well as slowing global demand, have been very responsive to progress in U.S.-China trade relations and a strengthening Chinese economy. This year, those sectors have outpaced the ascent in the S&P 500, which reached a record closing high on Tuesday.

Materials stocks have not been as sensitive, however, even though they also stand to benefit as a stronger Chinese economy lifts global consumption and industrial output. As China has taken measures to stimulate its economy, its economic data have turned more upbeat. That in turn could aid global growth, which has flagged as a result of China’s cooldown.

“What we’re seeing is China spending more on stimulus: fiscal stimulus and monetary stimulus,” said Kristina Hooper, chief global market strategist at Invesco in New York. “That’s likely to be a positive for materials.”

The People’s Bank of China has cut banks’ reserve requirement ratio five times over the past year and is widely expected to ease policy further to spur lending and reduce borrowing costs. The stimulus appears to have boosted Chinese economic data, with factory activity growing in March for the first time in four months.

Yet so far in 2019, the S&P 500 materials index has underperformed the S&P 500 at large, rising just 11.9% compared with 16.7% for the benchmark index. Moreover, it is among the biggest decliners in the period since the S&P’s previous record closing level on Sept. 20. The materials index has fallen 7% over those seven months, versus a 5.2% gain for technology and a 3% loss for industrials. Only the energy index has dropped more over that period.

A trade agreement could serve as a catalyst for a bump in materials shares as a drag on China’s economy is lifted, some market strategists say. Some commodity prices, including those for copper and oil, have ascended this year as the prospects for the global economy have somewhat brightened.

“It all goes back to the global growth outlook,” said Andrea DiCenso, portfolio manager for alpha strategies at Loomis Sayles in Boston. “With the front run in hard data, we’re beginning to see a pretty significant rally.”

Additionally, a trade agreement is expected to include commitments from China to purchase higher quantities of U.S. products such as soybeans, which could benefit companies that make agricultural chemicals, including DowDuPont Inc and CF Industries Holdings Inc.

CF Industries is scheduled to report quarterly results after the bell on Wednesday, and DowDuPont is scheduled to report before the market open on Thursday.

To be sure, even with a trade agreement, some materials companies could face price pressures. Shares of Freeport-McMoRan Inc fell 10.1% on Thursday after the copper mining company posted a lower-than-expected profit as its production slipped and its costs rose.

A rollback of tariffs on Chinese imports, particularly aluminum and steel, would likely prompt a fall in some commodity prices, which could hurt prospects for certain materials companies, said Gene Goldman, chief investment officer at Cetera Investment Management in El Segundo, California.

Even so, those drawbacks may be outweighed by the support for global demand fostered by a U.S.-China trade agreement.

“You could see a number of companies with lowered expectations bring them back up as they talk favorably about the impact that a trade deal would have on them,” said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York.

(Reporting by April Joyner; additional reporting by Sinéad Carew; editing by Jonathan Oatis)

Source: OANN

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