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University of Tennessee to be free for lower-income students

The University of Tennessee will begin providing free tuition to Tennessee residents starting in the fall of 2020.

Interim university President Randy Boyd announced Thursday that tuition and fees will be covered for students with household incomes of less than $50,000 a year.

Boyd said the university isn't "just for the wealthy or the elite. This is a school for everyone."

Qualifying students will be matched with volunteer mentors and need to complete service-learning hours. Both incoming students and those already enrolled in 2020 will be eligible.

Tennessee five years ago became the first state to make community college tuition-free for new high school graduates. It later expanded that program to allow older adults. State commitments have enabled 46 percent of UT students to graduate without debt.

Source: Fox News National

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More people die after Nigeria building collapse: emergency agency official

People gather outside a cordoned off area at the site of a collapsed building containing a school in Nigeria's commercial capital of Lagos
People gather outside a cordoned off area at the site of a collapsed building containing a school in Nigeria's commercial capital of Lagos, Nigeria March 14, 2019. REUTERS/Afolabi Sotunde

March 14, 2019

LAGOS (Reuters) – More people have died after being taken to hospital in the wake of the collapse of a building housing a school in the Nigerian city of Lagos, said an emergency agency official on Thursday.

Adesina Tiamiyu, the general manager of the Lagos State Emergency Management Agency, declined to give a total figure for casualties, saying they were still being worked out.

(Reporting by Angela Ukomadu and Alexis Akwagyiram in Lagos; Writing by Paul Carsten; Editing by Gareth Jones)

Source: OANN

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Russian company to finish helicopter facility in Venezuela

An executive at a Russian state-owned company says it will finish building a facility for repair and maintenance of Russian helicopters in Venezuela by the end of the year.

Igor Chechikov, deputy chief executive at Russian Helicopters, told Russian news agencies on Tuesday that all the necessary equipment has been delivered to Venezuela and that the construction should be completed this year.

Russia has been a major backer of embattled Venezuelan President Nicolas Maduro, supplying his government with weapons and providing loans.

Russia last week inaugurated a training center for Venezuelan pilots who fly Russian aircraft.

Source: Fox News World

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EU’s Moscovici optimistic Britain won’t crash out of EU on April 12

European Economic and Financial Affairs Commissioner Pierre Moscovici speaks during a news conference in Bucharest
FILE PHOTO - European Economic and Financial Affairs Commissioner Pierre Moscovici speaks at a news conference during the eurozone finance ministers and central bank governors meeting in Bucharest, Romania, April 5, 2019. Inquam Photos/Octav Ganea via REUTERS

April 8, 2019

PARIS (Reuters) – European Tax Commissioner Pierre Moscovici on Monday said he was convinced Britain would not crash out of the EU on April 12 without a divorce deal, though Prime Minister Theresa May must first persuade leaders a delay would be useful.

“The British parliament doesn’t want no-deal. We don’t want it, it’s the worst outcome for the economy, Moscovici told Franceinfo radio in an interview. “Of course, we’re ready for it if it happens.”

French President Emmanuel Macron has led calls for strict conditions to be imposed on Britain in return for any Brexit delay.

(Reporting by Richard Lough; Editing by Sudip Kar-Gupta)

Source: OANN

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U.N. to hold conference in Libya in April to discuss conflict solution

The U.N. Envoy for Libya, Ghassan Salame, speaks during a news conference in Tripoli
The U.N. Envoy for Libya, Ghassan Salame, speaks during a news conference in Tripoli, Libya March 20, 2019. REUTERS/Hani Amara

March 20, 2019

TRIPOLI (Reuters) – The United Nations will hold a conference in the Libyan town of Ghadames on April 14-16 to discuss solutions to the country’s conflict, the United Nations’ Libya envoy said on Wednesday.

“We hope it will be a new opening for the country for stability,” Ghassan Salame told reporters.

(Reporting by Ahmed Elumami; Writing by Ulf Laessing; Editing by Catherine Evans)

Source: OANN

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Explainer: Egypt votes on changing its constitution

An Egyptian man walks in front of a school used as a polling station covered from outside by Egyptian flags, during the preparations for the upcoming referendum on constitutional amendments in Cairo
An Egyptian man walks in front of a school used as a polling station covered from outside by Egyptian flags, during the preparations for the upcoming referendum on constitutional amendments in Cairo, Egypt April 18, 2019. REUTERS/Amr Abdallah Dalsh

April 19, 2019

CAIRO (Reuters) – Egypt holds a three-day referendum from Saturday on constitutional amendments that could allow President Abdel Fattah al-Sisi to stay in office until 2030.

Parliament this week overwhelmingly approved the proposals, which would also bolster the role of the military and expand the president’s power over judicial appointments.

Supporters argue that Sisi has stabilized Egypt and needs more time to complete crucial economic reforms. Critics say they fear that the changes will further limit the space for dissent after a wide-ranging security crackdown.

WHAT ARE THE KEY CHANGES?

An amendment to Article 140 of the constitution extends the presidential term to six years from four. An outright bar on any president serving more than two terms will change to a bar on serving more than two consecutive terms.

An additional clause extends Sisi’s current term to six years from four currently since his election victory in 2018, and allows him to run for a third term in 2024.

The amendments provide for the creation of a second parliamentary chamber known as the Council of Senators. It would have 180 members, two-thirds elected by the public and the rest appointed by the president.

Article 200 of the constitution on the role of the military is expanded, giving the military a duty to protect “the constitution and democracy and the fundamental make-up of the country and its civil nature, the gains of the people and the rights and freedoms of individuals”.

The amendments also create the post of vice president, allowing the president to appoint one or more deputies. They task the president with choosing head judges and the public prosecutor from a pool of senior candidates pre-selected by the judiciary.

They further create a quota setting women’s representation in parliament at a minimum of 25 percent.

WHO IS BEHIND THE AMENDMENTS?

The amendments were initiated by the pro-government parliamentary bloc known as Support Egypt, and according to the parliament’s legislative committee report, 155 members submitted the initial proposal.

On Tuesday, 531 out of 596 members of Egypt’s overwhelmingly pro-Sisi parliament voted in favor of the changes.

Parliament speaker Ali Abdelaal has said that the amendments were a parliamentary initiative and that Sisi may not even choose to run again.

“This suggestion came from the representatives of the people in gratitude for the historic role played by the president,” the legislative committee report said.

Proponents of the changes have argued that Sisi, a former army chief, came to power with a huge mandate after mass protests in 2013 against Islamist President Mohamed Mursi’s one year in office. With macro economic indicators improving, they say Sisi deserves more time to build on reforms.

The legislative committee report said religious, academic, political and civil society representatives expressed strong overall support for the changes during a consultation period ahead of the parliament’s final vote.

WHAT DO OPPONENTS SAY?

The legislative committee acknowledged some opposition to the amendments from members of the judiciary and two non-governmental organizations.

Just 22 members of parliament voted against the amendments.

They and other opposition figures say a central promise of the 2011 uprising that toppled then-President Hosni Mubarak is at risk: the principle of the peaceful transfer of power.

They say the amendments were driven by Sisi and his close entourage, and by the powerful security and intelligence agencies.

They also fear the changes thrust the armed forces into political life by formally assigning them a role in protecting democracy.

“If you want your children and grandchildren to live in a modern democratic country with peaceful transition of power, I do not think this is the amendment we would want,” one of the opposition MPs, Haitham el-Hariri, told parliament this week.

While Abdelaal said a wide range of views were given a hearing during the consultation period, opposition figures and activists say genuine debate on the amendments was impossible due to a far-reaching crackdown on political dissent.

Egyptian officials deny silencing dissent and say that Egyptians from all walks of life were given a chance to debate the amendments, adding that all views were factored into the final proposals.

Abdelaal also denied that the amendments prescribe a new role for the military. He told parliament that the armed forces are the backbone of the country and Egypt is “neither a military or a religious state,” state-run Al Ahram newspaper said.

“This is part of (Sisi’s) consolidation of power,” said Steven Cook of the Council on Foreign Relations, an independent U.S.-based think-tank. “From an institutional perspective, Egypt’s counter-revolution is largely complete.”

WHAT HAPPENS NEXT?

Egyptians abroad start voting on Friday, while the vote inside Egypt begins on Saturday, meaning Egyptians have less than four days to read and discuss the changes following their approval by parliament.

Election commissioner Lasheen Ibrahim, who announced the dates of the referendum on Wednesday, did not say when the votes will be counted or the results announced.

More than a week before parliament’s final vote, posters and banners sprung up across the capital Cairo urging people to “do the right thing” and participate, some calling directly for a “yes” vote.

(Writing by Nadine Awadalla; Editing by Aidan Lewis and Mark Heinrich)

Source: OANN

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Clarence Thomas backs Trump's call for changing defamation law to ease suits against media

Justice Clarence Thomas, in a concurring opinion released Tuesday, called for reversing decades of jurisprudence that has made it harder for public figures to sue media outlets and other organizations for defamation -- restrictions that were premised, he said, on a series of "policy-driven decisions masquerading as constitutional law."

Thomas' opinion comes against the backdrop of President Trump's repeated calls to make it easier to sue for defamation. Last weekend, Trump reacted to a "Saturday Night Live" skit about his southern-border emergency declaration by asking on Twitter, "How do the Networks get away with these total Republican hit jobs without retribution? Likewise for many other shows? Very unfair and should be looked into."

And last December, Trump wrote on Twitter: "Isn’t it a shame that someone can write an article or book, totally make up stories and form a picture of a person that is literally the exact opposite of the fact, and get away with it without retribution or cost. Don’t know why Washington politicians don’t change libel laws?"

Trump has sought elimination of the high "actual malice" standard that politicians must meet in order to prove they have been defamed by media organizations and other entities. In his opinion, Thomas argued at length that Trump's burden in such cases is indeed unfair.

Ordinarily, to prove defamation has occurred, a private individual only has to to show that a defendant negligently failed to exercise reasonable care in spreading a provable falsehood that has harmed his reputation. But in 1964, the Supreme Court ruled in New York Times Co. v. Sullivan that public officials must meet a higher "actual malice" burden. This means they must prove that the defendant spread a falsehood either intentionally or with reckless disregard for the truth.

The high court's ruling, which came amid a surge of politically motivated lawsuits by Southern political officials, unilaterally struck down the common law on defamation that was employed by each of the states and inherited from Britain.

"The common law of libel at the time the First and 14th Amendments were ratified did not require public figures to satisfy any kind of heightened liability standard as a condition of recovering damages," Thomas wrote.

In finding a constitutional basis for its ruling superseding that common law, the Sullivan court relied heavily on opposition by the founding fathers, including James Madison, to the Sedition Act of 1798, which would have prohibited any "false" or "scandalous" writings against government officers.

Alec Baldwin as Donald Trump on "Saturday Night Live." Trump has suggested liberal media portrayals of him constitute defamation and contain falsehoods.

Alec Baldwin as Donald Trump on "Saturday Night Live." Trump has suggested liberal media portrayals of him constitute defamation and contain falsehoods. (YouTube)

According to Thomas, though, the fact that the framers opposed criminal punishment for criticisms of public officials did not necessarily mean they opposed providing an accessible civil defamation remedy for those politicians. In fact, Thomas said, the founders consistently opposed using federal law to override state common law, which controlled defamation actions at the time.

TRUMP: OUR LIBEL LAWS ARE A 'SHAM'

"Far from increasing a public figure’s burden in a defamation action, the common law deemed libels against public figures to be, if anything, more serious and injurious than ordinary libels," Thomas wrote. "Libel of a public official was deemed an offense 'most dangerous to the people, and deserv[ing of] punishment, because the people may be deceived and reject the best citizens to their great injury, and it may be to the loss of their liberties.'"

Thomas added: "Madison seemed to contemplate that 'those who administer [the federal government]' retain “a remedy, for their injured reputations, under the same laws, and in the same tribunals, which protect their lives, their liberties, and their properties. ... In short, there appears to be little historical evidence suggesting that The New York Times actual-malice rule flows from the original understanding of the First or 14th Amendment."

In the absence of a compelling constitutional basis to override common law, Thomas said, the Supreme Court had no business getting involved in state-level defamation law in the first place.

Thomas' opinion came in an unrelated case in which the high court rejected an appeal from actress Kathrine McKee, who said comic icon Bill Cosby raped her in 1974. McKee sued Cosby for damaging her reputation after a lawyer for the comedian allegedly leaked a letter attacking McKee. Two lower courts ruled against her and dismissed the case, based largely on McKee's role as a public figure.

No other justice joined Thomas' opinion on Tuesday, and it appeared unlikely that the Supreme Court would agree to hear a challenge to the case.

But Thomas' opinion may have been an effort to signal to other groups to bring a lawsuit based on Sullivan, amid an increasingly changed media landscape in which information travels more quickly than ever, legal experts said. One of the key rationales for setting a higher bar for public officials to sue for defamation relates to their perceived ability to quickly quash misinformation on their own -- an ability that some observers say is fading in the age of blogs and around-the-clock news coverage.

Thomas is not the only prominent conservative justice to voice disdain for the Sullivan decision. The late Justice Antonin Scalia publicly railed against the court's ruling in that case, saying it was abhorrent and constitutionally baseless.

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Thomas has issued striking opinions in other cases that seemingly also served as signals. In support of Trump's reinstated travel ban, Thomas wrote that nationwide injunctions issued by individual federal judges “take a toll on the federal court system — preventing legal questions from percolating through the federal courts, encouraging forum shopping, and making every case a national emergency for the courts and for the executive branch.”

In Tuesday's opinion, Thomas suggested federal judges should similarly butt out of defamation cases.

Fox News' Bill Mears and The Associated Press contributed to this report.

Source: Fox News Politics

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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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