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Here’s who President Trump likes to blame when the stock market goes down




Trump's Stock Market Tweets

President Trump loves to tweet about stocks. In fact, he has tweeted about the market more in the last year than during any stretch of his presidency. 

On Monday, as stocks reversed some of the losses from last week, he tweeted “up BIG today.” On Tuesday, during a Fox news appearance, he promised “another good day today.”

Trump weighs in on the market frequently, but he prefers to do it when stocks are rallying, and especially when they’re in record territory. But he’ll also mention the market when stocks are falling – usually to assign blame for any downturn to his political enemies.

Using the helpful Trump Twitter Archive, Yahoo Finance isolated over 200 stock market tweets sent by the president since he took office. These are messages that mention stocks or 401(k) accounts specifically. Tweets just about the economy and his economic record were not included. 

This narrow universe of tweets – within the 22,500+ he has sent since Inauguration Day – provides a window into how Trump approaches an issue which advisors reportedly say the president views as both the most important barometer of the economy and central to his re-election campaign.

President Trump looks at his phone during a roundtable with Governors and small business owners at the White House in June. A tweet went out from the President’s account while he was looking at his phone. (Alex Wong/Getty Images)

Tellingly, over half of Trump’s stock market tweets have come in just the last 15 months.

Who gets blamed on the down days

Trump has a range of villains at the ready for days when the market is in the red. The media is a favorite target. Earlier this month he blamed Fox New polls – which had just showed him down in the key states of Wisconsin, Arizona, and North Carolina – as the reason for the decline.  

On Labor Day, after the market had fallen hard for two straight days, Trump promised big returns ahead as “we’re, hopefully, rounding the final turn in the pandemic.”

Over the course of his presidency he’s also blamed other parts of the media like cable news channels and correspondent Brian Ross, formerly of ABC news, for a down market.

The Democrats – and specifically their impeachment efforts – have been another favorite target. The market was riding high last December before the emergence of the coronavirus and the president claimed – without evidence – that the market would be “even better” if it wasn’t for the “the horror show that is the Radical Left.”

The Federal Reserve has historically been the third main target. Trump repeatedly criticized the central bank in 2019 for raising interest rates and, in his view, holding back the stock market.

During this year’s pandemic-induced recession, the Fed has cut interest rates to zero and the president has responded largely with praise for Fed Chairman Jerome Powell. “I called up Jerome Powell, and I said, ‘Jerome, you’ve done a really good job,’” Trump said in March adding “I’m very happy with the job he did.”

‘They will make you very poor, FAST!’

Since the 2020 presidential race heated up in July, most of the president’s tweets about the market have focused on Joe Biden, whom he calls part of the “radical left.”

Trump has repeatedly claimed that his administration is all that’s standing in the way of an epic economic collapse. In a typical recent tweet, the president said that a Biden victory would mean “[m]arkets would crash and cities would burn.” 

In fact, the president’s economic fear-mongering has little basis in fact. Recent Democratic and Republican administrations have been good and bad for investors in about equal measure. Biden was also perhaps the most market-friendly candidate to emerge out of the crowded Democratic primary and he has even made significant inroads among Wall Street donors.

Trump’s record on the stock market is actually about average and he’s well off the pace of some of his predecessors. Forbes recently ranked modern presidents by stock market performance: Bill Clinton was number one, Barack Obama was second, and Trump was eighth.

On the broader economy, Trump has been on the defensive as Democrats now often note that there are fewer jobs in the U.S. today than when he took office in 2017. Biden is also polling close to Trump on who would do a better job on the economy, with some recent polls finding “voters are split 50-50”.

‘Stock Market starting to look very good to me!’

During his time in office, Trump has publicly forgotten about the stock market for stretches when there’s no good news to report. In the early part of 2018, it appears that nearly 4 months went by without a presidential tweet about the market as S&P 500 returns during that period were decidedly mixed. Once the market got back into record territory, a flurry of tweets followed.

It was a bit different in February and March of this year. The S&P 500 dropped over a thousand points as the coronavirus pandemic and recession took hold. As equities dropped off a cliff, Trump tweets became less frequent but they didn’t stop. At one point, he even came close to recommending people buy stocks.

The market, as it turned out, had a lot further to fall in the weeks that followed, but it has since recovered. During the downward stretch, Trump blamed the media for the falling markets and touted the rare days when the market was up.

In recent days, journalist Bob Woodward released tapes withTrump discussing how he intentionally downplayed the crisis despite having evidence to the contrary.

“I wanted to always play it down,” he said on March 19 as stocks neared their bottom. “I still like playing it down, because I don’t want to create a panic.”

“He didn’t want to cause a panic, Why?” House Speaker Nancy Pelosi asked Thursday as Washington wrestled with this latest scandal. She quickly followed up with a rhetorical: “because of the stock market?”

Ben Werschkul is a producer for Yahoo Finance in Washington, DC.

Read more:

The US has lost jobs since Trump took office, but so have many other countries

Biden’s top economic priority isn’t what you think

White House on jobs: ‘The numbers are going to slow’ but we’re in a ‘durable recovery’

Read the latest financial and business news from Yahoo Finance

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Christine founded Sports Grind Entertainment with an aim to bring relevant and unaltered Sports news to the general public with a specific view point for each story catered by the team. She is a proficient journalist who holds a reputable portfolio with proficiency in content analysis and research.

Christine founded Sports Grind Entertainment with an aim to bring relevant and unaltered Sports news to the general public with a specific view point for each story catered by the team. She is a proficient journalist who holds a reputable portfolio with proficiency in content analysis and research.

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Marines Offer Former Pilots Up to $100K to Come Back to Active Duty




Marines Offer Former Pilots Up to $100K to Come Back to Active Duty

Attention Marine aviators: The Marine Corps needs you to return to active duty.

That’s the call the Marine Corps issued this week in its quest to get its former pilots to come back into the fold. The service is sweetening the deal by making selectees immediately eligible for bonuses of up to $100,000.

“The Marine Corps, like all services, has been challenged in the recent past with shortages in pilot inventory,” Capt. Joe Butterfield, a Marine spokesman at the Pentagon, said. “… We designed the aviation bonus and Return to Active Duty opportunities to offset the deficits we have at the junior officer grades.”

Read Next: Marine Corps F-35 and C-130 Collide During Refueling Exercise

Captains or majors who flew or commanded six Marine aircraft are eligible to return to active service, according to a service-wide message announcing the new policy. Aircraft include the AV-8B Harrier; F-35B Joint Strike Fighter; F/A-18 Hornet; MV-22 Osprey; KC-130 Hercules; and CH-53K King Stallion.

The Marine Corps wants the pilots to sign two-, three- or four-year contracts to return to active duty. Those selected will be automatically career-designated if they weren’t prior to leaving the service, and those willing to stay in longer could be given preference.

Return to Active Duty submissions are due by Nov. 6. Officers in the Selected Marine Corps Reserve, Individual Ready Reserve, and Individual Mobilization Augmentee Detachments could all be eligible. Aviators who had left the service completely could also qualify once they affiliate with a Reserve component, the administrative message states.

The service’s pilot crunch is largely due to challenges with producing new aviators while the Marine Corps is transitioning to new platforms, Butterfield said. The service is in the process of upgrading several of its aircraft as it transitions squadrons to the F-35 or CH-53K.

Going back on active duty could make pilots eligible for the Marine Corps Aviation Bonus Program for fiscal year 2021, which starts on Oct. 1. That bonus program, announced earlier this month, offers aviators in certain grades and communities expected to face personnel shortfalls up to $210,000 for another six years of service.

Since the Marine Corps wants former captains and majors to come back and fly for between two and four years, bonuses for those coming back in under those timelines would top out at $100,000.

The military has been struggling to retain pilots who’ve been able to pick up bonus options to go to commercial airliners in recent years. But the coronavirus pandemic has left some airlines struggling as travel declined, raising the possibility that military pilot retention will improve in coming years.

The Marine Corps has semi-annual Return to Active Duty boards, and since the start of the pandemic, Butterfield said the service has seen more applicants.

“We are aware of the pressures that come with current airline furloughs, and are offering this interim board with decreased obligations (24, 36, and 48-month) compared to previous RAD boards [with] 48-month obligations,” he said.

The Marine Corps didn’t answer questions about which of its platforms face the greatest shortages. The service has identified operational tempo and airline hiring as just two challenges the Marine Corps faces in keeping its pilots.

“This interim board gives the opportunity for those no longer on active duty to fly with the Marine Corps again and continue their service to the nation,” Butterfield said.

— Gina Harkins can be reached at Follow her on Twitter @ginaaharkins.

Related: Air Force Preparing for Furloughed Commercial Pilots to Request Return to Duty


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Tesla Autopilot scores low for driver engagement in European safety rating




Tesla Autopilot scores low for driver engagement in European safety rating


Goldman Sachs Predicts Over 40% Rally for These 3 Stocks

A new wave of optimism is splashing onto the Street. Investment firm Goldman Sachs just gave its three-month stock forecast a boost, lifting it from Neutral to Overweight, with it also projecting “high single-digital returns” for global stocks over the next year.What’s behind this updated approach? Goldman Sachs strategist Christian Mueller-Glissmann cites the impressive rebound in global earnings growth and reduced equity costs as the drivers of the estimate revision. On top of this, a “broader procyclical shift” in stocks and other assets could take place during the remainder of this year.“We have shifted more cyclical on sectors and themes tactically but still prefer growth vs. value on a strategic horizon… In the near-term, elevated uncertainty on U.S. elections and a better global growth outlook might benefit non-U.S. equities more, but in the medium term a large weight in structural growth stocks is likely to support the S&P 500,” Mueller-Glissmann noted.As for the “most important catalyst” that could spur growth optimism in the next year, the strategist points to additional clarity on when and how a COVID-19 vaccine will be available.Turning Mueller-Glissmann’s outlook into concrete recommendations, Goldman Sachs’ analysts are pounding the table on three stocks that look especially compelling. According to these analysts, each name is poised to surge in the 12 months ahead.Raytheon Technologies (RTX)First up we have Raytheon Technologies, which is an aerospace and defense company that provides advanced systems and services for commercial, military and government customers. While shares have stumbled in 2020, Goldman Sachs thinks the weakness presents a buying opportunity.Representing the firm, analyst Noah Poponak points out that RTX is “too high quality and well positioned of a company to trade at an 11% free cash flow yield on the fully aerospace-recovered and fully synergized 2023E free cash.”The analyst’s bullish outlook is largely driven by the company’s aerospace aftermarket (the secondary market that deals with the installation of equipment, spare parts, accessories and components after the sale of the aircraft by the original equipment manufacturer) business, which Poponak argues is “the best sub-market within Aerospace over the long-term.” This segment makes up roughly 45% of RTX’s aerospace revenue.Even though COVID-19 flight disruptions have weighed on this part of the business, Poponak points out total aircraft in service is down only 25% year-over-year, and flights have dipped less than 50%. He added, “China domestic traffic is now up year on year, and while international remains depressed, we believe the recovery in global air travel could be quicker from here than broad expectations for a recovery by 2023-2024.”Poponak highlights that in previous downturns, the aftermarket had to confront headwinds that arose from the increased use of parting out, inventory pooling and delayed aftermarket spending. “Even then, aftermarket grew at or faster than ASMs, and we believe there was pent-up demand heading into this downturn that support aftermarket tracking the recovery in global air travel. Long-term, we expect air traffic to grow 2X global GDP, as it has historically,” the analyst commented.Adding to the good news, the Geared Turbo Fan, which is a type of turbofan aircraft engine, product cycle could generate substantial revenue and EBIT growth at Pratt & Whitney, in Poponak’s opinion.“Given the high OE exposure to the A320neo, which has the strongest backlog of any aircraft in the market, we see Pratt OE revenue holding up better and recovering faster than peers. New GTF deliveries will drive expansion in the installed base for Pratt, which was declining for most of the 2000s. Despite the end of V2500 OE deliveries, that program is just moving into the sweet-spot for shop visits on the aftermarket side,” Poponak opined.What’s more, Poponak sees merger synergies as capable of fueling margin expansion and cash generation, with the historical synergy capture in the space implying that upside to guidance isn’t out of the question.In line with his optimistic approach, Poponak stays with the bulls. To this end, he keeps a Buy rating and $86 price target on the stock. Investors could be pocketing a gain of 49%, should this target be met in the twelve months ahead. (To watch Poponak’s track record, click here)In general, other analysts echo Poponak’s sentiment. 7 Buys and 2 Holds add up to a Strong Buy consensus rating. With an average price target of $78.63, the upside potential comes in at 36.5%. (See RTX stock analysis on TipRanks)Boeing (BA)Moving on to another player in the aerospace space, Boeing has also struggled on account of the COVID-19 pandemic, with it failing to match the pace of the broader market. That being said, Goldman Sachs has high hopes for this name going forward.Firm analyst Noah Poponak, who also covers RTX, points out that BA has already trimmed production rate plans by half, compared to the peak plan from before the COVID crisis and MAX grounding. A slower-than-anticipated air travel rebound could result in more reductions, but the analyst argues these would be much smaller than the reductions that have already been witnessed. He added, “Historically, the best buying opportunities in BA shares are right after it has capitulated to production rate cuts.”According to Poponak, compared to previous economic declines, the peak to trough in the current downturn is larger and faster, although this is partly related to the grounding of the 737 MAX in 2019. “We believe this will result in a less severe dislocation of supply and demand balance, and see deliveries recovering to 2018 levels by 2024 as global air travel recovers and airlines replace accelerated retirements,” he explained.As for how the company can fulfill its new production rate plan “given the mix of its backlog is so much more weighted to growth than replacement,” Poponak believes “the answer is that airlines during this downturn are revising that mix.” Since the pandemic’s onset, airlines have revealed higher aircraft retirement plans, and braced for less growth. “That means for a given revision in an airline’s order book, there is also a substantial mix shift toward replacement from growth within the new delivery numbers. Therefore, the backlog will not necessarily lose all of its growth orders,” the analyst stated.Additionally, following an uptick in aircraft order cancellations in March and April, the pace has slowed. “Even assuming another 200-plus unit cancellations this year, we estimate the 737 MAX would have nearly 6X years of production by the middle of the decade at our revised production rate estimates,” Poponak mentioned.When it comes to free cash flow, the analyst is also optimistic, with Poponak forecasting that BA will see positive free cash flow in 2021. “We think the market is underestimating the mid-cycle achievable aircraft unit cash margins across the major programs, extrapolating temporarily negative items into the future, and underestimating the degree of inventory unwind likely to occur in 2021,” he said.If that wasn’t enough, the MAX recertification could be a major possible catalyst. The company is working towards recertification and return to service, with Poponak expecting both to come before year-end.Taking all of the above into consideration, Poponak maintains a Buy rating and $225 price target. This target conveys his confidence in BA’s ability to climb 35% higher in the next year.Turning to the rest of the analyst community, opinions are mixed. With 8 Buys, 8 Holds and 1 Sell assigned in the last three months, the word on the Street is that BA is a Moderate Buy. At $192.40, the average price target implies 16% upside potential. (See Boeing stock analysis on TipRanks)Immatics (IMTX)Combining the discovery of true targets for cancer immunotherapies (therapies that utilize the power of the immune system) with the development of the right T cell receptors, Immatics hopes to ultimately enable a robust and specific T cell response against these targets. Based on its cutting-edge approach, Goldman Sachs counts itself as a fan.Writing for the firm, analyst Graig Suvannavejh notes that unlike CAR-T approaches, a T cell receptor (TCR)-based approach can go after targets inside the cell, and fight the 90% of cancers which are solid tumor in nature. The company is advancing two technologies: ACTengine, designed for personalized TCR-based cell therapies, and TCER, which targets TCR-based bispecific antibodies.ACTengine is the more advanced technology, with its four assets IMA201, a genetically engineered T cell product candidate that targets melanoma-associated antigen 4 or 8, IMA202, which targets melanoma-associated antigen 1, IMA203, which targets preferentially expressed antigen in melanoma (PRAME) and IMA204 that targets COL6A3 (found in a tumor’s stroma and is highly prevalent in the tumor microenvironment/TME in a broad range of cancers) expected to enter the clinic soon.Using the TCER platform, IMTX is developing IMA401 and IMA402, or “off-the-shelf” biologics consisting of a portion of the TCR which directly recognizes cancer cells and a T cell recruiter domain which recruits and activates the patient’s T cells.Speaking to the market opportunity, Suvannavejh mentioned, “Cancer immunotherapies have made great strides over the past decade, and in particular, advances seen with CAR-T have paved the way for cell therapy-based approaches… CAR-T, however, has to date only shown limited effect in treating cancers that are solid tumor in nature. With more than 90% of all cancers being solid tumors — with lung, breast, colorectal and prostate cancers accounting for c.60% of the total — this is the opportunity for IMTX.” To this end, he believes cumulative 2035 sales could land at $15.5 billion for the ACTengine-based assets.Reflecting another positive, since 2017, IMTX has inked at least one significant partnership per year with top global biopharma companies. According to Suvannavejh, each provided non-dilutive funding opportunities.The analyst added, “…the ARYA Sciences Acquisition Corporation, a special purpose acquisition company (SPAC), merger that enabled IMTX to become a publicly traded entity brought in a deep roster of well-known, experienced healthcare-dedicated institutional investors. Taken together, we find these to be validating of IMTX’s longer-term prospects.”Looking ahead, the initial clinical data readouts for IMA201, IMA202 and IMA203, which are slated for Q1 2021, and investigational new drug (IND) application submissions for IMA204 and IMA401 in 2021 and YE2021, respectively, reflect key potential catalysts, in Suvannavejh’s opinion.Everything that IMTX has going for it convinced Suvannavejh to reiterate his Buy rating. Along with the call, he attached a $17 price target, suggesting 73% upside potential. (To watch Suvannavejh’s track record, click here)Are other analysts in agreement? They are. Only Buy ratings, 4, in fact, have been issued in the last three months. Therefore, the message is clear: IMTX is a Strong Buy. Given the $19 average price target, shares could soar 93% in the next year. (See Immatics stock analysis on TipRanks)To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.


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Belarus activist shares ‘Alternative Nobel’ with 3 others




FILE - In this Saturday, June 21, 2014 file photo, Belarusian human rights advocate Ales Bialiatski is welcomed by his supporters at a railway terminal in Minsk, Belarus. The prominent Belarus opposition figure Ales Bialiatski and leading imprisoned Iranian human rights lawyer Nasrin Sotoudeh have been awarded the 2020 Swedish Right Livelihood Award, sometimes referred to as the “Alternative Nobel,” along with activists from Nicaragua and the United States. (AP Photo/Dmitry Brushko, File)

STOCKHOLM (AP) — A prominent Belarus opposition figure and an imprisoned Iranian human rights lawyer on Thursday were awarded the Right Livelihood Award, sometimes referred to as the “Alternative Nobel,” together with activists from Nicaragua and the United States.

Ole von Uexkull, the head of the Swedish Right Livelihood Foundation behind the prize, said that it “highlights the increasing threats to democracy globally. It is high time that all of us supporting democracy around the world stand up and support each other.”

The foundation cited 58-year-old human rights activist Ales Bialiatski and the non-governmental organization Human Rights Center Viasna which he heads, “for their resolute struggle for the realization of democracy and human rights in Belarus.”

In 2014, Bialiatski was released nearly three years into his prison sentence, ahead of schedule. He was convicted of tax evasion and sentenced to 4 ½ years in prison in November 2011. Western governments criticized the trial as politically vindictive.

Bialiatski was nominated for the Nobel Peace Prize in 2012 and received an array of international awards while imprisoned. His group has provided legal assistance to thousands of Belarusians arrested or imprisoned for challenging President Alexander Lukashenko’s rule.

Iranian lawyer Nasrin Sotoudeh, who has defended activists, opposition politicians and women prosecuted for removing their headscarves, was given the award “for her fearless activism, at great personal risk, to promote political freedoms and human rights in Iran.”

Earlier this month, Sotoudeh was transferred from a prison cell to a hospital north of Tehran following a hunger strike for better prison conditions and the release of political prisoners amid the pandemic. She has since ended her hunger strike that began in mid-August.

The 57-year-old Sotoudeh was arrested in 2018 on charges of collusion and propaganda against Iran’s rulers and eventually was sentenced to 38 years in prison and 148 lashes.

Created in 1980, the annual Right Livelihood Award honors efforts that the prize founder, Swedish-German philanthropist Jakob von Uexkull, felt were being ignored by the Nobel prizes.

The foundation also gave its 2020 award to Milton, Delaware-born U.S. civil rights lawyer Bryan Stevenson, 60, “for his inspiring endeavor to reform the U.S. criminal justice system and advance racial reconciliation in the face of historic trauma.”

The fourth winner was 61-year-old rights and environmental activist Lottie Cunningham Wren of Nicaragua “for her ceaseless dedication to the protection of indigenous lands and communities from exploitation and plunder.”

“Defying unjust legal systems and dictatorial political regimes, they successfully strengthen human rights, empower civil societies and denounce institutional abuses,” said von Uexkull, the foundation’s executive director and nephew of the founder.

The winners will each receive prize money of 1 million kronor ($110,100) and will be honored during a virtual award ceremony on Dec. 3.

Earlier recipients of the Right Livelihood Award include Swedish climate activist Greta Thunberg.


Jan M. Olsen in Copenhagen, Denmark, contributed to this report.


Christine founded Sports Grind Entertainment with an aim to bring relevant and unaltered Sports news to the general public with a specific view point for each story catered by the team. She is a proficient journalist who holds a reputable portfolio with proficiency in content analysis and research.

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