Sunday, 5 May 2024

Hong Kong divided over unrest amid mass protests

'This is just wrong': Starr says Dems doing disservice to America by shrouding investigation in secrecy

Starr also said to expect the process of impeachment to drag out and blamed Democrats for abusing their constitutional power for political gain. He also pushed for Republicans and independents to stay on message and to insist on full transparency, so the public can be aware of what is happening on Capitol Hill.

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"It's going to drag on. It is not going to be… very quick," he said. "Unfortunately for us the American people, this is all being done in a process that is just again not transparent, so we don't have a way to evaluate until we see something public."

"The Democrats frankly are playing a very dangerous game in insisting on secrecy," Starr added.

"They have a constitutional power to do it but it is wrong, wrong, wrong. For the Republicans, I think they continue to say — and independents, and just patriots saying, 'open up the doors.' Ronald Reagan said 'tear down this wall.' And I would say to Adam Schiff and the speaker, open up the doors and let the sunshine in. Let us see. What you are trying to hide? This is the people's business."

Procter & Gamble, United Technologies share gains contribute to Dow’s 67-point jump

Shares of Procter & Gamble and United Technologies are trading higher Tuesday afternoon, lifting the Dow Jones Industrial Average into positive territory. Shares of Procter & Gamble PG, +3.12% and United Technologies UTX, +2.52% are contributing to the blue-chip gauge’s intraday rally, as the Dow DJIA, +0.32% is trading 67 points (0.3%) higher. Procter & Gamble’s shares are up $4.39 (3.7%) while those of United Technologies are up $3.03, or 2.2%, combining for an approximately 50-point bump for the Dow. UnitedHealth UNH, +2.19%, Boeing BA, +2.24%, and Walt Disney DIS, +2.14% are also contributing significantly to the gain. A $1 move in any one of the 30 components of the Dow results in a 6.78-point swing.

Editor’s Note: This story was auto-generated by Automated Insights using data from Dow Jones and FactSet. See our market data terms of use.

Polaris Indian motorcycle sales fall, but less than the decline for Harley’s Hogs

Polaris Inc. PII, +8.67% reported third-quarter motorcycle sales that fell more than expected, but they outperformed the declines reported by Harley-Davidson Inc. HOG, +6.28%, leading to Polaris’ Indian bikes taking global share from Harley’s iconic Hogs. Polaris reported a 3% decline in motorcycle sales to $149.9 million from $155.3 million, compared with the FactSet consensus for an increase to $187.3 million. Although the Indian bike brand lost "a modest amount" of market share in the U.S., international motorcycle sales rose 28%, so the company said global market share for Indian "was up for the quarter." Harley reported third-quarter motorcycle revenue that declined 5.2% to $779.3 million, but beat the FactSet consensus of $749.4 million. Harley said total worldwide retail sales fell 1.2% to 58,522 vehicles, with U.S. sales down 3.6% and international sales up 2.7%. Polaris’s stock surged 8.4% in midday trading and Harley shares rallied 6.3%, while the S&P 500 SPX, +0.21% edged up 0.2%.

No recession? Thanks, millennials!

That’s Tony Dwyer, Canaccord Genuity’s chief market strategist, explaining to CNBC this week why he believes millennials are a critical component of his bullish stance on where the stock market goes from here.

“It’s a really big deal,” he explained. “The peak birth year in the millennials [1990] is almost as big as the peak birth year of the baby boom generation.”

Dwyer is looking for the S&P 500SPX, +0.21%to hit 3,350 by the end of next year. At last check, the broad market gauge was up slightly at 3,013 in Tuesday’s session. The DowDJIA, +0.33%was also gaining ground.

He is particularly fond of consumer-discretionary stocks, which he believes will benefit from the spending trends of the younger generation.

“If a household is fully employed, they have income and they can go to the bank and get a home-equity line of credit or credit-card debt or whatever a bank is willing to lend them, you have some pretty consistent spending behavior as we’ve seen over the past 10 years,” Dwyer told CNBC.

Watch the full interview:

Dwyer’s views echo those of Smead Capital Management Chief Executive Bill Smead, who explained last week how “incredibly economically impactful things” are about to happen as millennials begin to prioritize necessity spending. Big ticket items, Smead says, will soon be prioritized over “AppleAAPL, +0.46%devices, craft beer and ChipotleCMG, -2.33%burritos.”

Hong Kong divided over unrest amid mass protests

Protesters in Hong Kong have come out in support of the teenager shot by police during violent demonstrations on Tuesday.

    Protesters in Hong Kong have come out in support of the teenager shot by police during violent demonstrations on Tuesday.

    The 18-year-old is said to be in a stable condition in hospital after being hit in the chest at close range.

    Police say it was an act of self-defence.

    Al Jazeera’s Adrian Brown reports on how the increasing violence has divided opinion in the semi-autonomous city.

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