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August 16, 2022 5:43 pm

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Trump’s declassification claim may offer limited defense – The Hill

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Trump’s declassification claim may offer limited defense  The Hill

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Shamkhani: Not linking economy to negotiations fixed policy – Al Mayadeen English

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Shamkhani: Not linking economy to negotiations fixed policy  Al Mayadeen English

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Ambassador: After 9 UN envoys, Libya deserves a person of more capacity – The Libya Observer

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Ambassador: After 9 UN envoys, Libya deserves a person of more capacity  The Libya Observer

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Board of Supervisors ratifies monkeypox emergency declaration; future of Pride uncertain – Desert Sun

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Board of Supervisors ratifies monkeypox emergency declaration; future of Pride uncertain  Desert Sun

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Idaho reports 9 cases of Monkeypox – KTVB.com

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Idaho reports 9 cases of Monkeypox  KTVB.com

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Biden administration plans Russian oil price caps to fight inflation – Yahoo Finance

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Biden administration plans Russian oil price caps to fight inflation  Yahoo Finance

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Russia-Ukraine war: Leaders of Ukraine, Turkey and UN to meet this week – New Zealand Herald

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Russia-Ukraine war: Leaders of Ukraine, Turkey and UN to meet this week  New Zealand Herald

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The Federal Bureau of Fabrication | theTrumpet.com – theTrumpet.com

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The Federal Bureau of Fabrication | theTrumpet.com  theTrumpet.com

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Dow, S&P 500 climb as upbeat results from Walmart, others boost optimism

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2022-08-16T21:22:02Z

Traders work on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., August 8, 2022. REUTERS/Andrew Kelly/File Photo

The Dow and S&P 500 rose on Tuesday as stronger-than-expected results and outlooks from Walmart and Home Depot bolstered views on the health of consumers, while technology shares declined and weighed on the Nasdaq.

The S&P 500 consumer discretionary and staples sectors (.SPLRCT), (.SPLRCS) gave the benchmark index its biggest lift, while the S&P 500 retail index (.SPXRT) rose 1.9%.

The S&P 500 also came close to breaking above its 200-day moving average, a key technical level. The benchmark index has not closed above that level since early April.

Walmart Inc (WMT.N) shares jumped 5.1% after the retailer forecast a smaller drop in full-year profit than previously projected, while Home Depot Inc (HD.N) gained 4.1% after it surpassed estimates for quarterly sales. read more

At the same time, the 10-year U.S. Treasury yield rose, weighing on technology and other high-growth stocks. Shares of Microsoft Corp (MSFT.O) were down 0.3% on Tuesday after recent gains.

After a harsh first half of the year, the S&P 500 is up nearly 14% since the start of July, helped in part by better-than-expected earnings from Corporate America.

Investors have also been optimistic lately that the Federal Reserve can achieve a soft landing for the economy as it tightens policy and raises interest rates to reduce decades-high inflation.

“When you transition from a bear market to a bull market, especially one where the Fed is raising rates and there are concerns over the consumer, you really want to see consumer discretionary underpinned by enthusiasm. And today’s move in discretionary names is positive for the market,” said Quincy Krosby, chief global strategist for LPL Financial in Charlotte, North Carolina.

Walmart in July slashed its profit forecast amid surging prices for food and fuel.

The Dow Jones Industrial Average (.DJI) rose 239.57 points, or 0.71%, to 34,152.01, the S&P 500 (.SPX) gained 8.06 points, or 0.19%, to 4,305.2 and the Nasdaq Composite (.IXIC) dropped 25.50 points, or 0.19%, to 13,102.55.

With results in from the majority of S&P 500 companies, second-quarter earnings are expected to have risen 9.7% from a year earlier, compared with 5.6% estimated on July 1, according to IBES data from Refinitiv.

Shares of Target Corp (TGT.N), which reports quarterly results early on Wednesday, closed 4.6% higher.

Still, investors will be anxious to see July U.S. retail sales data, which is due on Wednesday as well. Also on Wednesday, the Fed is scheduled to release minutes from its July policy meeting.

Investor sentiment is still bearish, but no longer “apocalyptically” so, according to BofA’s monthly survey of global fund managers in August. read more

Volume on U.S. exchanges was 10.92 billion shares, compared with the 10.96 billion average for the full session over the last 20 trading days.

Advancing issues outnumbered declining ones on the NYSE by a 1.22-to-1 ratio; on Nasdaq, a 1.21-to-1 ratio favored decliners.

The S&P 500 posted 8 new 52-week highs and 29 new lows; the Nasdaq Composite recorded 82 new highs and 40 new lows.


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Liz Cheney in Trump“s sights in Republican U.S. midterm primary

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2022-08-16T10:03:46Z

(Reuters) -Donald Trump’s campaign to oust congressional Republicans who supported his impeachment gets its last major test of the U.S. midterm primary season on Tuesday, when Liz Cheney and Lisa Murkowski face challengers backed by the former president.

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FILE PHOTO: Former U.S. President Donald Trump dances onstage after speaking at the Conservative Political Action Conference (CPAC) in Dallas, Texas, U.S., August 6, 2022. REUTERS/Brian Snyder/File Photo

U.S. Representative Cheney, who has played a big role in the congressional probe of the Jan. 6, 2021, assault on the Capitol by Trump supporters, is expected to lose her Wyoming primary to Trump-backed Harriet Hageman, according to opinion polls.

The fate of U.S. Senator Murkowski of Alaska is less clear, as the state’s nonpartisan primary format allows the top four vote-getters to advance to the Nov. 8 general election, which could bring a possible rematch of Murkowski and Trump-backed Kelly Tshibaka.

Both states are reliably Republican, making it unlikely that either will play a major role in deciding whether President Joe Biden’s Democrats lose their razor-thin majorities in Congress. Republicans are expected to easily retake the House and also have a good chance of winning control of the Senate.

Biden’s weak public approval numbers, weighed down by an unsteady economy, remain a concern for Democrats heading into November. A two-day Reuters/Ipsos opinion poll completed on Tuesday showed that just 38% of respondents approve of Biden’s job performance, down from 40% a week earlier. His job approval has been below 50% since August 2021.

A majority in either chamber of Congress would allow Republicans to bring Biden’s legislative agenda to a halt. Already they threaten to launch potentially damaging investigations into his administration should they win.

Alaska voters are also determining whether to pick Sarah Palin, a Republican firebrand and former governor who Trump has endorsed for the state’s only U.S. House seat.

Cheney, the daughter of Republican former Vice President Dick Cheney, has used her campaign – and her position on the Jan. 6 committee – to keep attention on Trump’s actions around the Capitol riot, and his continued false claims about fraud in the 2020 election, in a bid to persuade fellow Republicans the former president is a threat to democracy.

Terry Sullivan, a political strategist who managed Republican Senator Marco Rubio’s 2016 presidential campaign, views a Cheney loss on Tuesday as a “foregone conclusion” but sees her efforts as part of a larger battle.

“Liz Cheney isn’t fighting for re-election, she’s fighting for the direction of the Republican Party,” he said, noting that some observers have discussed whether Cheney should mount a 2024 presidential campaign. “It’s more of a kind of a beginning, not an end.”

Two recent polls show the challenge facing Cheney, whose relentless criticism of Trump as an existential threat to democracy has turned off many Wyoming Republicans, despite a congressional voting record that supported Trump’s agenda.

Cheney trailed Hageman 52% to 30% in a survey of likely primary voters from July 7 to 11 published by Wyoming’s Casper Star-Tribune. A University of Wyoming poll released last week put Hageman’s lead at 29 points.

Supporters of Cheney believe she still has a shot if enough Democrats and independents cross over and vote for her, which is allowed in the state’s primary system and whose numbers may not be fully captured in the polls.

Jim King, professor of political science at the University of Wyoming, said Cheney’s opponents have painted her positions on impeachment and the Jan. 6 committee as adverse to the interests of Wyoming, where Trump won 70% of the vote in 2020.

“All of this plays into the same thing, that ‘She hasn’t represented us,’” King said, adding that the consistent distance in the polling indicates Cheney will lose. “I don’t see at this point there is any reason to question those results.”

Cheney was one of 10 House Republicans who voted to impeach Trump over the Jan. 6 Capitol riot. Three others have already lost their primaries, four decided not to run again and two won their contests.

Most of the candidates Trump has backed this election season have triumphed in a sign, his supporters say, of his continued sway over the party as he considers whether to run for office again in 2024.

It is unclear yet what the impact on the midterm elections will be of the FBI’s retrieval of top secret documents at Trump’s Mar-a-Lago home as part of an investigation into possible violations of the Espionage Act.

Cheney’s backers have drawn some optimism from state voter data, which shows an 11,495 increase in the number of registered Republicans since the start of the year through Aug. 1, while registered Democrats have fallen by about 6,000.

Their hope is that those numbers represent Democrats registering as Republicans as a way to boost Cheney, although the Republican increase is only about 8% of the primary turnout in 2018 – not enough to make up for the polling gap.

Similar to Wyoming, Trump’s endorsements in Republican-leaning Alaska are unlikely to provide an opening for Democrats. But they have elevated Tshibaka, who is trying to take Republican Murkowski’s Senate seat.

Under new laws which eliminated partisan primaries and introduced ranked choice voting, Murkowski is expected to be among the top four vote-getters to advance to the general election, with Tshibaka as her most serious opponent.

Murkowski, a moderate who voted for Trump’s impeachment, is seen as the front-runner.


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