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Report: Murray State G Morant to enter NBA draft

FILE PHOTO: NCAA Basketball: NCAA Tournament-Second Round- Florida State vs Murray State
FILE PHOTO: Mar 23, 2019; Hartford, CT, USA; Murray State Racers guard Ja Morant (12) talks to a teammate during the second half of game against the Florida State Seminoles in the second round of the 2019 NCAA Tournament at XL Center. Mandatory Credit: Robert Deutsch-USA TODAY Sports

April 3, 2019

All-American sophomore and projected lottery pick Ja Morant is leaving Murray State to enter the 2019 NBA Draft, The Athletic reported Wednesday.

Morant averaged 24.5 points and led the nation with 10.0 assists per game this season, highlighted by a triple-double against Marquette in a first-round win in the NCAA Tournament.

In a tweet, Murray State teased, “We have some exciting news to share with you this evening!” and invited the campus community to hear an announcement from the 6-foot-3 point guard at 6 p.m.

Morant, who also averaged 5.7 rebounds and 1.8 steals in 2018-19, has been projected to be selected as high as No. 2 in the draft behind Duke freshman forward Zion Williamson.

Morant posted 17 points, 16 assists and 11 rebounds in the Racers’ 83-64 victory against Marquette. It was the first triple-double in the NCAA tourney since 2012. He followed it up with 28 points in a 90-62 loss to Florida State in the second round.

–Field Level Media

Source: OANN

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Nunes sues Twitter, vows many more are coming; Beto confronted with third-trimester abortion question

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Developing now, Tuesday, March 19, 2019

NUNES SUES TWITTER, SAYS MORE LAWSUITS TO COME: Rep. Devin Nunes, R-Calif., filed a lawsuit against Twitter and some of its users Monday seeking $250 million in compensatory damages and $350,000 in punitive damages, accusing the social media site of "shadow-banning conservatives" including himself, to influence the 2018 elections, systematically censoring opposing viewpoints and totally "ignoring" lawful complaints of repeated abusive behavior.

And the congressman told Fox News' Sean Hannity the lawsuit is "first of many" to come ...  Click on the image above to see his full interview on "Hannity" from Monday night.

CLICK HERE TO GET THE FOX NEWS APP.

DID BETO ENDORSE THIRD-TRIMESTER ABORTIONS? - At a campaign event in Ohio on Monday, White House hopeful Beto O'Rourke appeared to punt on the question of third-trimester abortions but endorsed a woman's right to the controversial practice, less than a month after Senate Democrats blocked a bill that would have required doctors to provide medical care to newborns amid a swirling infanticide controversy in Virginia ...  "Are you for third-trimester abortions?" an attendee of the campaign event in Cleveland asked O'Rourke, before describing the medical alternatives to such a procedure and disputing the medical necessity of late-term abortions. "Are you going to protect the lives of third-trimester babies?" O'Rourke responded: "The question is about abortion and reproductive rights. And, my answer to you is, that should be a decision the woman makes. I trust her."

REPORT: NATIONAL ENQUIRER PAID OFF BROTHER OF BEZOS' LOVER FOR TEXTS - The National Enquirer paid the brother of Jeff Bezos’ mistress $200,000 for the private text messages between the two lovers that were published in January, according to a Wall Street Journal report Monday night ... Michael Sanchez, the brother of Bezos’ girlfriend Lauren Sanchez, reportedly provided the intimate communications to American Media LLC, this after months of speculation as to how the tabloid obtained messages revealing lurid details about the Amazon CEO’s alleged love affair. The Journal's finding, attributed to people familiar with the matter, parallels the conclusion reached by private investigators working for Bezos as of early February.

WARREN INSISTS NATIVE AMERICAN HERITAGE CLAIM DIDN'T BOOST CAREER: 2020 presidential candidate Elizabeth Warren insisted Monday that her disputed claims of Native American heritage, for which she later apologized, had no role in the advancement of her career ... During a CNN town hall in Jackson, Miss., the Massachusetts Democrat was asked how she responded to critics who said her handling of questions about her heritage was “tone-deaf, offensive, and indicative of a lack of presidential tact.” “Well... you know... I grew up in Oklahoma. I learned about my family from my family. And based on that, that’s just kind of who I am and I do the best I can with it,” the senator responded. “You know, there was an investigation, nothing I ever did or my family played any role in any job I ever got.”

THE SOUNDBITE

WHY BEN SASSE FLIPPED ON TRUMP'S BORDER EMERGENCY DECLARATION -  "I think there are three different issues here. The first is, do we objectively have a crisis at the border? And, we do ... Second, does the president have the authority to declare a crisis in this kind of circumstance? ... I think the president does have that authority. That is a different question than whether or not that's a good law." – Sen. Ben Sasse, R-Neb., on "Special Report," explaining why he voted against a resolution to stop President Trump's declaration of a national emergency at the U.S.-Mexico border. (Click the image above to watch the full video.)

TODAY'S MUST-READS
Donna Brazile: Why I am excited to join Fox News and take part in a civil - and sensible - debate.
FOX NEWS EXCLUSIVE: Brazil’s 'Trump of the Tropics' talks controversial tweet, mysterious killing.
George Conway was turned down from job, jealous of wife, Trump campaign manager says.
11-year-old boy charged with murders of two adults at home.

MINDING YOUR BUSINESS
Report: Tesla asks workers to volunteer to help deliver 30,000 cars.
Marriott plans to open more than 1,700 hotels by 2021.
John Boehner flips on pot legalization: Fed laws 'way out of step.'

STAY TUNED

On Fox Nation:

The Big Story: The Shocking Story of Susan Smith, Part 2
“The Big Story” takes a closer look at some of the biggest headlines in American history. In this preview, a mother is charged with the murder of her two little boys, and now she must face not only the justice system, but also the court of public opinion. Watch a preview of the show now.

Not a subscriber? Click here to join Fox Nation today!
Fox Nation is a subscription streaming service offering daily shows and documentaries that you can’t watch anywhere else. Watch from your phone, computer and select TV devices.

On Fox News:

Fox & Friends, 6 a.m. ET: Judge Andrew Napolitano, Fox News senior judicial analyst, on the 2020 Dems' push to expand the Supreme Court. Joel Osteen on the power of prayer following a tragedy like the New Zealand mosque attacks. Nifty Fifty's transforms Fox Square into a diner.

Special Report with Bret Baier, 6 p.m. ET: An interview with Kevin Hassett, chairman of the Council of Economic Advisers.

On Fox Business:

Mornings with Maria, 6 a.m. ET: Special guests include: Susan DeVore, president and CEO of Premier; U.S. Rep. Warren Davidson, R-Ohio; Gen. Jack Keane; Tom Bevan, president and co-founder of RealClearPolitics.

Varney & Co., 9 a.m. ET: Special guests include: Sonny Perdue, U.S. Secretary of Agriculture.

Lou Dobbs Tonight, 7 p.m. ET: Michael Pillsbury, senior fellow and director of the Center for Chinese Strategy at the Hudson Institute.

Kennedy, 9 p.m. ET: Buck Sexton, former intelligence officer with the CIA.

On Fox News Radio:

The Fox News Rundown podcast: "Former DNC Chair Joins Fox" - Donna Brazile, former chairwoman of the Democratic National Committee, has joined the Fox News team, promising civility and an open ear to all debates. The longtime Democratic strategist explains why she made the “bold” decision to join the network. A new study found that taking a daily low-dose aspirin may not be the best way to maintain a strong heart. Fox News contributor Dr. Marc Siegel explains what this means and what we should be doing to stay healthy. Plus, commentary by psychotherapist, Dr. Robi Ludwig Psy.D.

Want the Fox News Rundown sent straight to your mobile device? Subscribe through Apple Podcasts, Google Play, and Stitcher.

The Brian Kilmeade Show, 9 a.m. ET: HUD Secretary Ben Carson on the opioid epidemic; former U.S. Rep. Allen West, R-Fla. on the state of President Trump's national emergency declaration, the 2020 presidential race, and the Mueller investigation; Matt Schlapp, chairman of the American Conservative Union, on Democrats' 2020 presidential candidates; former FBI Director Louis Freeh on the Mueller probe and counterfeit prescription drug investigations; Jack Mitchell on flooding in Nebraska

The Todd Starnes Show, Noon ET: Todd Starnes speaks with U.S. Rep. Doug Collins, R-Ga., about the latest developments in the Mueller investigation and analyses whether there is anti-Christian bias in Silicon Valley with Dr. Michael Brown.

#TheFlashback
2003: President George W. Bush orders the start of war against Iraq. (Because of the time difference, it was early March 20 in Iraq.)
1993: Supreme Court Justice Byron R. White announces plans to retire. (White's departure would pave the way for Ruth Bader Ginsburg to become the court's second female justice.)
1987: Televangelist Jim Bakker resigns as chairman of his PTL ministry organization amid a sex and money scandal involving Jessica Hahn, a former church secretary.

Fox News First is compiled by Fox News' Bryan Robinson. Thank you for joining us! Have a good day! We'll see you in your inbox first thing Wednesday morning.

Source: Fox News National

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China prepares to skewer brands in annual consumer day gala

Man stands in front of an
A man stands in front of an "integrity wall" at a consumer goods expo which opens a day ahead of World Consumer Rights Day, in Dalian, Liaoning province, China March 14, 2019. REUTERS/Stringer

March 15, 2019

By Brenda Goh and Pei Li

BEIJING/SHANGHAI (Reuters) – China is gearing up to skewer companies it accuses of treating consumers badly in a yearly event that has previously named and shamed firms from Apple to Nike Inc.

The state-run China Central Television (CCTV) will on Friday evening broadcast its annual consumer rights show, similar to CBS network’s “60 Minutes” in the United States, that tends to be a mix of undercover reports and song-and-dance routine.

Known as “315”, in reference to global consumer rights day on March 15, the show is usually greeted with trepidation by local and foreign brands, that have, in recent years, set up public relation teams in advance or handed out freebies around the day to take the edge off any possible criticism.

“This is the one day of the year that all eyes are focused on the consumer issue,” said James Feldkamp, Shanghai-based CEO of consumer research and testing firm MingJian.

“Some people may say it is losing its bite then suddenly it will have a big scandal that will have a big impact.”

This year, the show will grab more attention as it comes at a time when Beijing is locked in a trade war with the United States and has heavily criticized Canada over its decision to detain the CFO of Huawei Technologies on U.S. request.

Beijing has also continued to be critical of how companies, mainly international brands, refer to Taiwan in their marketing material or product package. Beijing considers the self-ruled, democratic island a wayward province.

Names of companies that will be targeted in CCTV’s consumer rights show are not disclosed ahead of the broadcast.

In fact, to maintain secrecy, people on the show have to sign a non-disclosure agreement, while producers are kept in a hotel and not allowed to go home a couple of months ahead of the screening, according to a former “315” executive.

It is unclear whether the show has had an impact on company sales, but it has drawn apologies from Volkswagen, whose engine defects in the Touareg SUV it criticized last year, as well as from Apple, whose China after-sales service it scrutinized in 2013.

CCTV did not respond to Reuters’ requests for comment.

Thanks to the fast-expanding middle class in the world’s second-largest economy, its consumers have become a powerful spending force with the ability to make or break brands.

Companies are willing to do anything to avoid being named, the former “315” executive said, on condition of anonymity as he was not allowed to speak about the show to media.

The show, first broadcast in 1991, has its own limitations on what can be exposed, the executive added.

Normally food-safety issues that could trigger public fear, giant state-owned enterprise or Chinese medicine firms are off limits, the person told Reuters.

“We are all staying on alert,” said a public relations officer at a major Chinese consumer tech brand.

(Reporting by Brenda Goh and Pei Li, additional Reporting by Josh Horwitz; Editing by Himani Sarkar)

Source: OANN

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French ambassador blasts ‘big mouth’ Trump, says he reads ‘basically nothing’

Outgoing French ambassador Gerard Araud tore into President Trump in a series of exit interviews, calling the U.S. president a “big mouth” who reads “basically nothing or nearly nothing” -- and even comparing him to the "uninformed" French King Louis XIV.

Araud, in an interview with Foreign Policy, made a stark contrast between the presidencies of Barack Obama and the current White House occupant.

TRUMP SLAMS MACRON FOR LOW APPROVAL RATINGS, FRENCH SURRENDER TO THE NAZIS

“On one side, you had this ultimate bureaucrat, an introvert, basically a bit aloof, a restrained president. A bit arrogant also but basically somebody who every night was going to bed with 60-page briefings and the next day they were sent back annotated by the president,” he said, referring to Obama.

“And suddenly you have this president who is an extrovert, really a big mouth, who reads basically nothing or nearly nothing, with the interagency process totally broken and decisions taken from the hip basically.”

He told the magazine that often decisions or statements come from the White House, and even administration officials are surprised by them or don’t know what they mean.

In particular, he cited the Dec. 19 announcement of a U.S. withdrawal from Syria as well as the recent decision to recognize Israeli sovereignty over the Golan Heights -- where he said that “what I understand was the secretary of state [Mike Pompeo] was not informed.”

Still, his advice to the Elysee Palace for dealing with Trump when he went on the attack against President Emmanuel Macron was that officials do nothing

"He once criticized the French president [Emmanuel Macron], and people called me from Paris to say, 'What should we do?' My answer was clear: 'Nothing.' Do nothing because he will always outbid you. Because he can’t accept appearing to lose. You have restraint on your side, and he has no restraint on his side, so you lose. It is escalation dominance.”

HUNGARY'S TOP DIPLOMAT PRAISES TRUMP ON NATO PUSH, CONTRASTS AGAINST OBAMA-ERA 'LECTURING'

In another interview with The Guardian, Araud compared Trump to the French King Louis XIV, who reigned in France in the 17th and 18th centuries.

“It’s like [trying] to analyse the court of Louis XIV,” Araud said. “You have an old king, a bit whimsical, unpredictable, uninformed, but he wants to be the one deciding.”

Araud’s anti-Trump views are well known. On Election Night 2016, he tweeted, “A world is collapsing before our eyes. Vertigo,” before deleting it.

That bleak view of the post-2016 world continued in his interview with Foreign Policy where he struggled to find optimism about a Trump re-election, or the prospects for Britain’s departure from the European Union.

“I don’t know if it will be a disaster,” he said, asked about his thoughts on a Trump 2020 win. “I’m sure it won’t be a good thing. But at the same time it’s too easy to say Trump is responsible. Because on the European side, the crisis is on both sides of the Atlantic. You see the incredible soap opera [over Brexit] offered up by the British. Whatever the result, it’s a lose-lose situation for Europe. It’s a disaster that we are losing the British, all the capabilities they are bringing to us.”

CLICK HERE FOR THE FOX NEWS APP

Asked about his election night tweet by The Guardian, he said that in retrospect, he believed the tweet to be right.

“My world, our world of certainties, really was collapsing and we were facing a real, substantial, dangerous crisis, which could basically really overwhelm my own country,” he said. “I believe we are entering a new era. I just don’t know what this era will be.”

Source: Fox News Politics

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Ilhan Omar: Obama’s a ‘pretty face’ who got ‘away with murder’

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EU rejects US recognition of Israeli control over Golan

The European Union says it will not recognize Israel's sovereignty over the Golan Heights, despite the U.S. policy reversal on the disputed territory.

The EU Foreign Affairs Department said in a statement Wednesday that it was the "unanimous position" of all 28 member states not to change their stance in line with U.N. resolutions that identify the Golan Heights as occupied territory and reject the seizure of land by force.

Israel captured the Golan from Syria in the 1967 Mideast war and annexed it in 1981.

U.S. President Trump signed the proclamation recognizing Israel's authority on Monday, upending over a half-century of U.S. policy. The U.S. is the first country to recognize Israel's sovereignty over the Golan, which the rest of the international community regards as occupied territory.

Source: Fox News World

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UN warns Syria crisis is not over in new donor appeal

Top officials are warning that the crisis in Syria is not over and are calling for large-scale support for people in need on the eve of a major donors' conference.

U.N. humanitarian chief Mark Lowcock said Wednesday that "without an immediate and substantial injection of funds, lifesaving provisions of food, water, health care, shelter and protection services will likely be interrupted."

The U.N. says $3.3 billion is required to help meet Syria's aid needs, plus $5.5 billion to support Jordan, Lebanon and Turkey, where most Syrians take refuge.

Around 55 countries and 80 delegations are expected to attend Thursday's donor conference in Brussels.

As the conflict enters its ninth year, about 11.7 million Syrians still depend on aid. Almost as many have fled or been displaced inside the country.

Source: Fox News World

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

April 26, 2019

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

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

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

(Reporting by Richard Leong)

Source: OANN

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

April 26, 2019

By Tom Sims

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

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

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

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

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

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

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

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

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

“MARKET PLAY”

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

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

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

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

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

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

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

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

(Writing by Alexander Smith; Editing by Keith Weir)

Source: OANN

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

April 26, 2019

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

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

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

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

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

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

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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