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Sunday Show: Democrats Totally Losing Their Minds as 2020 Nears

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Source: InfoWars

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Democrats welcome fight as Trump tees up 2020 healthcare battle

FILE PHOTO: House Speaker Nancy Pelosi delivers remarks at a National Portrait Gallery Women's History Month reception in Washington
FILE PHOTO: U.S. House Speaker Nancy Pelosi (D-CA) delivers remarks at a National Portrait Gallery Women's History Month reception in Washington, U.S., March 28, 2019. REUTERS/Yuri Gripas

April 2, 2019

WASHINGTON (Reuters) – Democrats on Tuesday embraced U.S. President Donald Trump’s call to revive a fight over healthcare coverage, ensuring the issue will dominate the 2020 presidential election and Trump’s bid for a second term in office.

Trump last week stepped up his assault on Democratic predecessor President Barack Obama’s signature 2010 healthcare law by directing the Justice Department to oppose it in court and promising an unspecified Republican alternative.

In a series of late-night posts on Twitter on Monday, however, Trump shifted course, saying there would be no vote on any healthcare legislation until after next year’s election.

Republicans are developing “a really great HealthCare Plan with far lower premiums (cost) & deductibles than Obamacare,” Trump said, referring to the Affordable Care Act signed into law by Obama.

“Vote will be taken right after the Election when Republicans hold the Senate & win back the House,” he said.

While that timeline would give Republicans more time to knit together an alternative to the Affordable Care Act, it all but guarantees a 2020 battle over an issue that helped Democrats wrest control of the U.S. House of Representatives last year.

“When the president has instructed his Department of Justice to eliminate the Affordable Care Act, them’s fighting words,” U.S. House Speaker Nancy Pelosi said in an interview with Politico on Tuesday.

Trump and his fellow Republicans had vowed in the 2016 presidential election to “repeal and replace” Obamacare but failed to do so during their first two years in power, despite control of both the Senate and the House of Representatives.

Democrats made healthcare a signature issue in the 2018 midterm congressional election, and are gearing up for a repeat defense next year.

“Healthcare will be front and center,” Democratic U.S. Representative Ben Ray Lujan told MSNBC on Tuesday.

Lujan, who is seeking a Senate seat in 2020, cited popular aspects of the law, such as protections for pre-existing conditions that could be threatened by Republicans, and said Democrats’ protection of the law could help them also win control of the upper chamber.

Candidates for the party’s 2020 presidential nomination, including a number of current U.S. senators, have also hinged their candidacy on the issue.

Later on Tuesday, the Democratic-led House plans to take up a resolution condemning the Justice Department’s legal assault on the law. Democrats from both chambers also rallied against it in front of the Supreme Court.

(Reporting by Susan Heavey; Editing by Bernadette Baum)

Source: OANN

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South Carolina fifth grader died due to natural causes, not fight with fellow student, prosecutor says

South Carolina fifth grader Raniya Wright, who died shortly after a fight with another student at her elementary school last month, died due to natural causes, a prosecutor said on Friday.

Wright's family claimed she was being consistently bullied by another student in her class at Forest Hills Elementary, and the student baited her into a fight on March 25, during which the 10-year-old reportedly suffered substantial injuries after hitting her head on a bookshelf.

Prosecutor Duffie Stone said in a press conference on Friday that Wright's death was the result of a congenital condition called an arteriovenous malformation, a tangle of abnormal blood vessels in the brain. The child had repeatedly complained of headaches in the days and weeks before her death.

She added that no criminal charges would be brought against the student who allegedly fought Wright after the findings were revealed by the county coroner.

WOMAN GETS JAIL FOR RUNNING OVER SON IN SCHOOL PARKING LOT

"There was no evidence of trauma on or inside her body ... that would indicate that any fight (of) any magnitude contributed to her death," Stone said.

Authorities say that Wright and another student engaged in a fight during class on March 25, which did not involve any weapons. Wright was taken to the nurse, and paramedics later arrived to find the girl unconscious.

She was taken to a nearby hospital, then airlifted to the Medical University of South Carolina about an hour away in Charleston. She died two days later.

CALIFORNIA COUPLE WHO SHACKLED CHILDREN FACE LIFE IN PRISON

The Colleton County School district, which includes Wright's elementary school, issued a statement at the time describing the girl as bright, kind and involved.

“Our community has suffered a tremendous loss,” the statement read. “Raniya was a wonderful student. She loved to write, spend time with her friends, play basketball, and loved being a big sister. She was actively involved in her church as a junior usher.

"She will be missed greatly by her family, friends and the entire school.”

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Fox News' Paulina Dedaj and the Associated Press contributed to the reporting of this story. 

Source: Fox News National

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North Carolina Election Board calls new election in disputed House race

The North Carolina State Board of Election unanimously voted on Thursday for a new election in a contested House race that has been marred by claims of ballot fraud.

The decsion to call a new election in the state’s 9th congressional district comes after emabttled Republican politician Mark Harris said a new election should be held and after days of testimony in a hearing on ballot-tampering.

“I believe a new election should be called,” Harris said. “It’s become clear to me that public confidence in the 9th District has been undermined to an extent that a new election is warranted.”

During his testimony in an election fraud case, Harris said the new evidence that has come forward about a political operative working for his campaign who had allegedly tampered with mail-in ballots in the November congressional race means that "a new election should be called," The Charlotte Observer reported.

Harris, who outpaced Democrat Dan McCready by 905 votes in the contested race in North Carolina took the stand on Thursday in the fourth day of hearings in the election fraud case. He told those gathered in court that he has suffered two strokes since the election and is “struggling” to get through the hearing.

In his sworn testimony, Harris said that he was assured by political operative – and convicted felon – Leslie McCrae Dowless that campaign workers would never collect absentee ballots, despite concerns from Harris’ son, John, that Dowless was illegally collecting and turning in ballots from voters.

NORTH CAROLINA STARTS HEARING ON BALLOT FRAUD ALLEGATIONS IN CONESTED HOUSE RACE

“I shared with him (John Harris) again, based on what I was hearing, that I didn’t sense that,” Harris said, according to the Charlotte Observer.

“McCrae had been so clear I didn’t think it was necessary,” Harris added. “I didn’t go back any further...I did have a comfort level at that point."

One of the methods participants said Dowless used was to hire workers to collect absentee ballots from voters who received them, and then turn them over to him, according to an elections board investigation.

State election law prohibits anyone other than a guardian or close family member from handling mail-in ballots. Harris' team said in a legal briefing submitted to the elections board last week the board should certify him the winner -- no matter what Dowless did for the campaign.

Harris’ comments came a day after his son took the stand in emotional testimony that left his father in tears.

"I raised red flags at the time the decision was made to hire Mr. Dowless," John Harris said in his testimony on Wednesday.

"I love my dad, and I love my mom. I certainly have no vendetta against them, no family scores to settle," he said. "I think that they made mistakes in this process and they certainly did things differently than I would have done them."

Harris’ son’s testimony bucked the politician’s previous claims that he had no knowledge of fraudulent election activity. On Thursday, the elder Harris admitted that his son had warned him about his concerns over Dowless.

“My son was a bit prophetic in his statement that day,” Harris said.

At stake in the hearings is the seat for North Carolina’s 9th Congressional District, which includes Charlotte. The State Board of Elections has not certified unofficial results that showed Harris narrowly beating McCready by 905 votes. The state has twice refused to declare Harris the winner, after hearing reports of irregularities just before the election in rural Bladen County, where Dowless lives.

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The North Carolina Democratic Party cheered the move to hold another election, saying Harris' campaign "funded and directed an elaborate, illegal scheme to steal an election."

"North Carolina Republicans, following Mark Harris’ lead, repeatedly lied to the people of the Ninth district, silenced their voices, and undermined our entire state’s faith in our democracy," NCDP Chairman Wayne Goodwin said in a statement. "This saga could only have ended in a new election, and we look forward to repairing the harm dealt by Republicans and giving the people of the Ninth district the representative they deserve.”

The Associated Press contributed to this report.  

Source: Fox News Politics

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Multiple 2020 Democrats Say They Won't Attend AIPAC Summit

Multiple Democrat presidential candidates said Thursday that they won't attend the American Israel Public Affairs Committee's annual conference in Washington next week.

Sen. Elizabeth Warren of Massachusetts, Sen. Bernie Sanders of Vermont, former U.S. Rep. Beto O'Rourke of Texas, Sen. Kamala Harris of California and Sen. Kirsten Gillibrand of New York, are among the 2020 contenders who have decided not to attend. Former Starbucks CEO Howard Schultz, who is considering an independent bid for president, will also avoid the AIPAC conference.

It comes as the liberal advocacy group MoveOn has called on Democratic presidential candidates to skip this year's policy conference, saying AIPAC had tried to thwart the Iran nuclear deal and had employed "anti-Muslim and anti-Arab rhetoric." By not attending, the Democratic candidates can demonstrate their progressive bona fides in an increasingly crowded 2020 field.

But it also gives President Donald Trump an opportunity to highlight his ties to the Israeli government. As the Democrats distance themselves from AIPAC, Trump said Thursday that it is time for the United States to recognize Israel's control over the disputed Golan Heights.

AIPAC declined to comment on the 2020 candidates but noted that presidential candidates have attended the conference in the past. Indeed, several Democrats seeking the presidency, including Harris, Gillibrand, Sen. Cory Booker of New Jersey and Sen. Amy Klobuchar of Minnesota, have spoken at the group's annual conference before.

Sanders' policy director Josh Orton confirmed his plans and said Sanders is "concerned about the platform AIPAC is providing for leaders who have expressed bigotry and oppose a two-state solution."

Gillibrand's senior adviser, Glen Caplin, said, "Senator Gillibrand was not planning to speak at the policy conference and will not be attending. As she does every year, she will meet separately with her New York constituents."

The intense differences among the Democratic ranks over the U.S.-Israeli relationship came to a head last month when freshman Democratic Rep. Ilhan Omar of Minnesota, one of the first Muslim women in Congress, insinuated that lobbyists with AIPAC were paying lawmakers to support Israel. Her remark drew bipartisan criticism and a rebuke from House Speaker Nancy Pelosi, and Omar ended up apologizing for her comments.

One 2020 Democratic candidate, John Delaney, a former Maryland congressman, said he would not attend AIPAC because of a scheduling conflict, and an aide said he was "disappointed" to miss it.

"He's attended the conference every year since he's been in Congress, and he very much looks forward to being back next year," said deputy press secretary Ahmed Elsayed.

Israeli Prime Minister Benjamin Netanyahu plans to visit the White House next week, and Secretary of State Mike Pompeo is currently in Jerusalem.

Netanyahu is to appear at this year's conference, as are a number of Democratic political leaders, including Pelosi, Senate Minority Leader Chuck Schumer and House Majority Leader Steny Hoyer. Top Republicans are also expected to participate.

Source: NewsMax Politics

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Boeing, FAA face more pressure from U.S. lawmakers over 737 MAX accidents

FILE PHOTO: An American Airlines Boeing 737 MAX 8 flight approaches for landing at Reagan National Airport in Washington
FILE PHOTO: An American Airlines Boeing 737 MAX 8 flight from Los Angeles approaches for landing at Reagan National Airport shortly after an announcement was made by the FAA that the planes were being grounded by the United States in Washington, U.S. March 13, 2019. REUTERS/Joshua Roberts/File Photo

March 21, 2019

By Tracy Rucinski and Jamie Freed

CHICAGO/SINGAPORE (Reuters) – Pressure mounted on Boeing Co in Washington as U.S. lawmakers called for executives to testify about two crashed 737 MAX jets, even as the world’s biggest planemaker worked to return the grounded fleet to the skies.

A Senate panel plans to schedule a hearing with Boeing at an unspecified date, officials said, the first time a U.S. congressional committee has called the company’s executives to appear for questioning over the crashes.

The same panel, the Senate Commerce subcommittee on aviation and space, will also question FAA officials on March 27, likely about why the regulator agreed to certify the MAX planes in March 2017 without requiring extensive additional training.

The Ethiopian Airlines crash on March 10 that killed all 157 on board has set off one of the widest investigations in aviation history. Initial reports from investigators say there are clear similarities between the crash and the Lion Air accident that killed all 189 crew and passengers in November.

While no direct link has yet been established, the MCAS flight control software and related pilot training are at the center of the investigation, and U.S. lawmakers are questioning the Federal Aviation Administration’s certification of MAX’s safety.

Boeing has promised a swift update to the MCAS, and the FAA said the installation of new software and related training was a priority.

However, extra computer-based training will be required after the software update, the pilot union of MAX’s biggest customer, Southwest Airlines Co, said on Wednesday, becoming the first major airline union to comment.

Southwest Airlines Pilots’ Association said it had previewed the proposed Boeing training, including a required test, which would be mandatory for Southwest pilots before flying the 737 MAX again.

A Boeing spokeswoman said training on the software update would be provided by the manufacturer, but declined to disclose further details.

Regulators in Europe and Canada have said, however, they will seek their own guarantees of the MAX’s safety.

MOUNTING SCRUTINY

The Ethiopian Airlines crash has shaken the global aviation industry and cast a shadow over the Boeing model intended to be a standard for decades to come.

Investigators examining the Lion Air crash are weighing how the MCAS system ordered the plane to dive in response to data from a faulty sensor and whether the pilots had enough training to respond appropriately to the emergency, among other factors.

MCAS is meant to prevent a loss of lift which can cause an aerodynamic stall and send the plane downwards in an uncontrolled way.

The pilots of the doomed Lion Air flight scrambled through a handbook to understand why the jet was lurching downwards in the final minutes before it hit the water, three people with knowledge of the cockpit voice recorder contents said.

Indonesian investigators have said the cockpit voice recorder information was leaked to the media and they plan to hold a news conference at 0830 GMT on Thursday.

Boeing has said there was a documented procedure to handle the problem.

The company was sued on Wednesday in federal court in Chicago by the estate of one of the Lion Air crash victims in which the plaintiffs referred to the Ethiopian crash to support a wrongful death claim against the company.

A Boeing spokesman said the company does not respond to, or comment on, questions concerning legal matters.

The Seattle Times reported the Federal Bureau of Investigation was joining the investigation into the MAX’s certification. An FBI spokeswoman in Seattle would neither confirm nor deny that it was a part of any investigation.

Criminal prosecutors at the U.S. Justice Department, who are also investigating the FAA’s oversight of Boeing, have issued multiple subpoenas to Boeing, CNN reported, citing sources briefed on the matter.

Bloomberg said U.S. officials started investigating the FAA’s approval of the MAX software linked to the Lion Air plane crash last year within weeks after the accident, citing people familiar with the matter.

The Pentagon Inspector General said it would investigate a complaint that Acting U.S. Secretary of Defense Patrick Shanahan, a former Boeing executive, violated ethical rules by allegedly promoting Boeing while in office.

Facing high-profile scrutiny, Boeing reshuffled executives in its commercial airplanes unit to focus on its response.

FINAL MOMENTS

Before the Lion Air flight crashed, sources told Reuters the Indian-born captain, aged 31, was quiet, while the Indonesian officer, 41, said “Allahu Akbar”, or “God is greatest”.

A different crew on the same plane the previous evening had the same situation but resolved it after running through three checklists, though they did not pass on the information to the doomed Indonesian crew, a preliminary report in November said.

As with the Indonesia flight, the Ethiopian crew radioed about control problems shortly after take-off and sought to turn back. Ethiopia’s civil aviation head Wosenyeleh Hunegnaw said he expected a report on the investigation within 30 days.

For now, more than 350 MAX aircraft are grounded, and deliveries of nearly 5,000, worth more than $500 billion, are on hold. Boeing’s shares have fallen 11 percent since the Ethiopian Airlines crash, wiping $26 billion from its market value.

(For a graphic on ‘Boeing 737 Max deliveries in question’ click https://tmsnrt.rs/2Hv2btC)

(For a graphic on ‘Ethiopian Airlines crash and black boxes’ click https://tmsnrt.rs/2ChBW5M)

(Reporting by Tracy Rucinski in Chicago and Jamie Freed in Singapore; Additional reporting by Kanishka Singh in Bengaluru, Maggie Fick and Jason Neely in Addis Ababa, David Shepardson in Washington, Tim Hepher in Paris, Jonathan Stempel in New York, David Ljunggren in Ottawa, Cindy Silviana in Jakarta, Eric M. Johnson in Seattle; Writing by Sayantani Ghosh; Editing by Clarence Fernandez)

Source: OANN

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Man arrested in reputed New York crime boss killing

A man accused of killing the reputed boss of New York's Gambino crime family has been arrested ahead of a court appearance.

The New York Police Department says Anthony Comello was booked on murder, assault and weapon possession charges at around 4 a.m. on Monday.

Comello, who's 24, is accused of gunning down Francesco "Franky Boy" Cali outside the mobster's Staten Island home.

He was initially taken into custody in New Jersey and agreed on March 18 to be extradited to New York.

Authorities say the March 13 slaying may have been related to a romantic dispute instead of mob business.

Comello's attorney has said he'll fight the charges. Robert Gottlieb says the accusations contradict the characterizations of people who know Comello best.

Source: Fox News National

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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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