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U.S. and India commit to building six nuclear power plants

FILE PHOTO: India's Foreign Secretary Vijay Gokhale speaks during a media briefing in New Delhi
FILE PHOTO: India's Foreign Secretary Vijay Gokhale speaks during a media briefing in New Delhi, India, February 26, 2019. REUTERS/Adnan Abidi/File Photo

March 13, 2019

WASHINGTON (Reuters) – The United States and India on Wednesday agreed to strengthen security and civil nuclear cooperation, including building six U.S. nuclear power plants in India, the two countries said in a joint statement.

The agreement came after two days of talks in Washington. The United States under President Donald Trump has been looking to sell more energy products to India, the world’s third-biggest buyer of oil.

The talks involved Indian Foreign Secretary Vijay Gokhale and Andrea Thompson, the U.S. undersecretary of state for arms control and international security.

“They committed to strengthen bilateral security and civil nuclear cooperation, including the establishment of six U.S. nuclear power plants in India,” the joint statement said.

It gave no further details of the nuclear plant project.

The two countries have been discussing the supply of U.S. nuclear reactors to energy-hungry India for more than a decade, but a longstanding obstacle has been the need to bring Indian liability rules in-line with international norms, which require the costs of any accident to be channeled to the operator rather than the maker of a nuclear power station.

Pittsburgh-based Westinghouse has been negotiating to build reactors in India for years, but progress has been slow, partly because of India’s nuclear liability legislation, and the project was thrown into doubt when Westinghouse filed for bankruptcy in 2017 after cost overruns on U.S. reactors.

Canada’s Brookfield Asset Management bought Westinghouse from Toshiba in August 2018. Last April Westinghouse received strong support from U.S. Energy Secretary Rick Perry for its India project, which envisaged the building of six AP1000 reactors in the state of Andhra Pradesh.

The agreement to build the reactors, announced in 2016, followed on from a U.S.-India civil nuclear agreement signed in 2008.

India plans to triple its nuclear capacity by 2024 to wean Asia’s third-largest economy off polluting fossil fuels.

Last October, India and Russia signed a pact to build six more nuclear reactors at a new site in India following summit talks between their leaders in New Delhi.

(Reporting by Lesley Wroughton and David Brunnstrom; editing by Jonathan Oatis and Phil Berlowitz)

Source: OANN

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Nepal plane hits parked helicopter while taking off, killing three

A helicopter carrying the bodies of the victims of a small aircraft belonging to Summit Air, that crashed with a helicopter parked at Lukla airport, waits to get transported for postmortem examination at a hospital in Kathmandu
A helicopter carrying the bodies of the victims of a small aircraft belonging to Summit Air, that crashed with a helicopter parked at Lukla airport, waits to get transported for postmortem examination at a hospital in Kathmandu, Nepal April 14, 2019. REUTERS/Navesh Chitrakar

April 14, 2019

By Gopal Sharma

KATHMANDU (Reuters) – A small plane operated by a private airline in Nepal hit a parked helicopter on Sunday while preparing to take off in a mountainous area near Mount Everest, killing three people including a co-pilot, an airport official said.

The Twin Otter aircraft crashed into the helicopter at Tenzing Hillary Airport at Lukla, known as the gateway to the world’s highest mountain, 125 km (78 miles) northeast of capital Kathmandu.

The plane, operated by Summit Air, was not carrying passengers as it was trying to leave what is considered to be one of the world’s most dangerous airports due to the shortness of its runway and its location surrounded by mountains.

Officials said the cause of the incident was not immediately known.

“Two people died on the spot and the third one died while undergoing treatment in a hospital in Kathmandu,” airport official Pratap Babu Tiwari told Reuters.

The dead included two security guards who were near the helicopter. The pilot of the plane was among three people injured, though the lone stewardess escaped unhurt.

Air crashes are common in mostly mountainous Nepal, home to eight of the world’s 14 highest mountain peaks, including Mount Everest.

In February a helicopter carrying seven people including the country’s tourism minister crashed in bad weather in eastern Nepal, killing seven all on board.

The Lukla airport was built by New Zealand mountaineer Sir Edmund Hillary – who together with Sherpa Tenzing Norgay became the first to reach the 8,850-metre (29,035-foot) Everest peak in 1953 – as a gift to the people of the remote Solukhumbu region where it is located.

In 2008, another Twin Otter plane carrying 16 passengers and three crew crashed shortly before it was due to land at Lukla.

(Reporting by Gopal Sharma; Editing by Krishna N. Das and Jan Harvey)

Source: OANN

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CNN: Polls Show Bernie Sanders' Popularity Dropping

Polls are showing that Sen. Bernie Sanders' popularity is dropping among all voters over the past few months, even after he was able to hold onto most of the popularity he enjoyed during his 2016 presidential race through the end of last year.

According to a new CNN poll, Sanders' favorable rating is at 46 percent among registered voters, compared to an unfavorable rating of 45 percent, reports CNN

Meanwhile, a Quinnipiac University poll from late in December gave the Vermont Independent senator and 2020 Democratic presidential candidate a net favorability rating of plus two points, and an average of recent polls puts his net favorability at minus one point.

When Sanders' presidential bid ended in 2016, he had a 59 percent favorable rating, compared to a 36 percent unfavorable rating among voters in a CNN poll in June 2016.

Even in December 2018, a CNN poll gave the senator a plus 13 net favorability rating, and a Gallup poll in September put him at plus 15.

Sanders' net favorability, though, is at about the same place as the numerous others who have declared their candidacy for the 2020 nomination, even though he does enjoy more name recognition than many of the other contenders.

He also may need to show that he is electable against President Donald Trump. According to the newest CNN poll, 30 percent of Democratic voters think their party has a better chance of winning with him as the nominee, but 59 percent think a different candidate would be more likely to win.

Source: NewsMax Politics

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U.S. Supreme Court gives Trump victory on immigration detention

FILE PHOTO: The Supreme Court stands before decisions are released for the term in Washington
FILE PHOTO: The Supreme Court is seen in Washington, U.S., May 14, 2018. REUTERS/Joshua Roberts

March 19, 2019

By Lawrence Hurley

WASHINGTON (Reuters) – The Supreme Court on Tuesday endorsed U.S. government authority to detain immigrants awaiting deportation anytime – potentially even years – after they have completed prison terms for criminal convictions, handing President Donald Trump a victory as he pursues hardline immigration policies.

The court ruled 5-4, with its conservative justices in the majority and its liberal justices dissenting, that federal authorities could pick up such immigrants and place them into indefinite detention at any time, not just immediately after they finish their prison sentences.

The ruling, authored by conservative Justice Samuel Alito, leaves open the possibility of individual immigrants challenging the federal law involved in the case on constitutional grounds if they are detained long after they have completed their sentences.

In dissent, liberal Justice Stephen Breyer questioned whether the U.S. Congress when it wrote the law “meant to allow the government to apprehend persons years after their release from prison and hold them indefinitely without a bail hearing.”

The Trump administration had appealed a lower court ruling in the case that favored immigrants, a decision it said would undermine the government’s ability to deport immigrants who have committed crimes. Trump has backed limits on legal and illegal immigrants since taking office in January 2017.

The plaintiffs included two legal U.S. residents involved in separate lawsuits filed in 2013, a Cambodian immigrant named Mony Preap convicted of marijuana possession and a Palestinian immigrant named Bassam Yusuf Khoury convicted of attempting to manufacture a controlled substance.

Under federal immigration law, immigrants convicted of certain offenses are subject to mandatory detention during their deportation process. They can be held indefinitely without a bond hearing after completing their sentences.

(Reporting by Lawrence Hurley; Editing by Will Dunham)

Source: OANN

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Pelosi Waves Off Left Flank of Democratic Party, Including AOC

House Speaker Nancy Pelosi on Sunday maintained that Democrats need to “hold the center” to succeed and waved off the left flank of the Democratic Party – represented by freshman lawmaker Alexandria Ocasio-Cortez – as “like five people.”

Pelosi was responding to a question by Lesley Stahl during an interview on CBS’ “60 Minutes” when she made the comment.

“So you are contending with a group in Congress: Over here on the left flank are these self-described socialists, on the right, these moderates,” Stahl said. “And you yourself said that you’re the only one who can unify everybody. And the question is can you?”

Pelosi replied: “By and large, whatever orientation they came to Congress with, they know that we have to hold the center. That we have to be m– go down the mainstream.”

Stahl interjected, noting that the Democratic Party looked “fractured.”

“You have these wings – AOC, and her group on one side,” Stahl continued.

“That’s like five people,” Pelosi dismissed.

“No, it’s – the progressive group is more than five,” Stahl pressed.

“Well, the progressive – I’m a progressive,” Pelosi replied.

Ocasio-Cortez is one of the Congressional Progressive Caucus’ most recognizable freshmen members. She is also part of seven Democratic House members supported by the progressive political action the Justice Democrats.

Source: NewsMax Politics

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Bolsonaro struggles to sell Brazil pension bill as markets tumble

FILE PHOTO: Brazil's President Jair Bolsonaro attends a signing ceremony for 13.2 billion reais in contracts for electricity transmission lines, at the Planalto Palace in Brasilia
FILE PHOTO: Brazil's President Jair Bolsonaro attends a signing ceremony for 13.2 billion reais in contracts for electricity transmission lines, at the Planalto Palace in Brasilia, Brazil March 25, 2019. REUTERS/Ueslei Marcelino/File Photo

March 27, 2019

By Jamie McGeever

BRASILIA (Reuters) – Brazilian President Jair Bolsonaro and his economy minister tried to rescue their contentious pension reform bill on Wednesday, as deepening political chaos surrounding the government’s signature proposal slammed Brazilian markets.

Bolsonaro again warned that failure to overhaul the creaking social security system would bankrupt the country, while Economy Minister Paulo Guedes said he would quit if the president or Congress chose not to follow his policy recommendations.

Brazilian financial assets tumbled. The real fell to a nearly six-month low against the dollar, while the Bovespa stock market slumped 3.6 percent. Bond yields and market-based interest rates also climbed steeply.

The president, who had come under fire for keeping his distance from Congress, waded into the debate after a bruising 24 hours for his government that highlighted the uphill political battle required to pass an ambitious legislative agenda.

Guedes told a Senate committee that Bolsonaro’s government was failing to convince lawmakers of the merits of his plan to save over 1 trillion reais ($250 billion) over the next decade, squandering the political capital won in the elections.

“If the president supports the things that I believe can help Brazil, I will be here. But if neither the president nor the House nor anyone else wants that, I will go back to what I was doing,” Guedes told the Senate Economic Affairs Committee.

Guedes had skipped a congressional hearing on the pension proposals on Tuesday, while a bloc of 11 political parties demanded the removal of changes affecting rural, elderly and disabled Brazilians.

A measure on Tuesday by lawmakers to seize more control over the federal budget in coming years also received near-unanimous approval by the lower house of Congress.

Rodrigo Maia, who as speaker of the lower house is in charge of guiding the pension bill through Congress, on Wednesday denied that vote handicapped the government.

Bolsonaro said he would meet with Maia next week to discuss the growing crisis, adding that the powerful lawmaker was shaken by personal matters.

Bolsonaro himself, who nearly died from a stab wound during last year’s election campaign, said in a TV interview that his health had impaired his work leading the government.

On Wednesday, after he underwent a medical checkup, the Sao Paulo hospital that operated on him said he was in “excellent clinical condition.”

The Brazilian real on Wednesday plunged 2.3 percent to close at 3.9531 per dollar. After spot trading but while Guedes continued his contentious Senate hearing, the currency slipped in the futures market past 4.00 per dollar.

After markets closed, Brazil’s central bank stepped in to slow the slide, announcing a Thursday auction to sell $1 billion in the spot market with an agreement for future repurchase.

The benchmark Bovespa stock index nosedived 3.5 percent, and has now shed 8.5 percent in just over a week.

Interest rate futures jumped as investors bet a delay and dilution of fiscal reforms may force the central bank to raise interest rates. The April 2020 contract rose to 6.75 percent, meaning a rate hike within a year is fully discounted.

“We still think ‘sausage making’ is in full process, where any headlines will lead to volatility in the real, and setbacks like this could continue in the coming months,” said Citi strategists in a client note on Wednesday.

“We remain on the sidelines,” they said.

(Reporting by Jamie McGeever; Additional reporting by Gabriel Stargardter and Gram Slattery in Rio de Janeiro, Marcela Ayres and Mateus Maia in Brasilia, Jose de Castro and Camila Moreira in Sao Paulo; Editing by Brad Haynes, Bernadette Baum and Rosalba O’Brien)

Source: OANN

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US-China plan new trade talks for deal by end of April: WSJ

FILE PHOTO: FILE PHOTO: FILE PHOTO: U.S. Trade Representative Robert Lighthizer listens as Chinese Vice Premier Liu He talks while they line up for a group photo at the Diaoyutai State Guesthouse in Beijing
FILE PHOTO: U.S. Trade Representative Robert Lighthizer, left, listens as Chinese Vice Premier Liu He talks while they line up for a group photo at the Diaoyutai State Guesthouse in Beijing, China February 15, 2019. Mark Schiefelbein/Pool via REUTERS

March 19, 2019

(Reuters) – Top U.S. and China negotiators are planning new rounds of talks starting next week to end a trade dispute between the two nations, the Wall Street Journal reported on Tuesday.

U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin expect to fly to Beijing the week of March 25 to meet with Chinese Vice Premier Liu He, who will pay a return trip to Washington, D.C. the following week, the report said, citing Trump administration officials.

Talks between China and the United States are in the final stages, with a target date for a deal by the end of April, according to the report https://www.wsj.com/articles/lighthizer-mnuchin-to-travel-to-beijing-11553015413?mod=searchresults&page=1&pos=1.

Washington and Beijing have slapped import duties on each other’s products that have cost the world’s two of the largest economies billions of dollars, roiled markets and disrupted manufacturing and supply chains.

Representatives of the U.S. Treasury and Office the U.S. Trade Representative could not be immediately reached for comment. The White House had no immediate comment.

(Reporting by Sanjana Shivdas in Bengaluru)

Source: OANN

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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)

Source: OANN

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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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