You are here

Trump Media, gun stocks surge after assassination attempt

Trump Media, gun stocks surge after assassination attempt
Republican presidential candidate former President Donald Trump is surrounded by U.S. Secret Service agents at a campaign rally, Saturday, July 13, 2024, in Butler, Pa. (AP)
Short Url

https://arab.news/jsz67

Updated 16 July 2024
Reuters
Follow

Trump Media, gun stocks surge after assassination attempt

Trump Media, gun stocks surge after assassination attempt
Updated 16 July 2024
Reuters
Follow

Crypto stocks, gun stocks and shares of other companies that could benefit from a Donald Trump presidency jumped on Monday after an assassination attempt on the Republican candidate boosted expectations he would win the November election. Trump’s survival after he was shot in the ear during a rally in Pennsylvania on Saturday increased his already considerable lead in betting odds over President Joe Biden. Those odds rose more later on Monday after Trump chose US Senator J.D. Vance to be his vice presidential running mate as the Republican Party officially nominated the former president to run again at the start of the party’s national convention in Milwaukee. On politics-wagering website PredictIt, contracts for a Trump election victory traded at 70 cents, up from 60 cents on Friday, with a potential payout of $1. Contracts for a Biden victory were at 26 cents. Shares of Trump Media & Technology Group, majority-owned by Trump, soared 31 percent, lifting its stock market value to $7.7 billion, despite revenue comparable to two US Starbucks shops.
Trump Media is the parent company of social media platform Truth Social, and its shares have now surged 132 percent in 2024 as retail traders bet Trump will win a second term as president. Added: He previously served from 2017 to 2021.
“It’s nearly four months to go (until the election) and things can change, but today the markets are betting on Trump being the victor,” said Ben Laidler, head of equity strategy at Bradesco BBI, adding that Trump Media “is the tip of the spear and the most sensitive to a Trump victory.” Shares of electric vehicle maker Tesla ended 1.8 percent higher after billionaire CEO Elon Musk publicly endorsed Trump following the shooting.
Tesla gave back earlier gains of as much as 7 percent after the announcement of Vance as Trump’s running mate.
Vance last year introduced legislation to eliminate EV tax subsidies and replace them with tax credits for US-made gasoline or diesel-powered vehicles. The bill would gut a core part of the White House clean vehicle strategy and has no realistic chance of winning approval in the current Democratic-controlled Senate. Crypto stocks soared on Monday, tracking a 10 percent rally in bitcoin to a two-week high. Trump has presented himself as a champion of cryptocurrency. Crypto exchange Coinbase Global and bitcoin miners Riot Platforms and Marathon Digital jumped between 11 percent and 18 percent. Long-dated US bond yields rose on expectations that Trump policies would drive up government debt and stoke inflation, while the benchmark S&P 500 rose 0.3 percent.
“Most investors are not changing their overall commitment to US equities. After all, the broad stock market rose under the last Trump administration and has risen under the Biden administration as well,” said Rick Meckler, partner at Cherry Lane Investments.
Gun makers and ammunition stocks Smith & Wesson Brands , Sturm Ruger & Company and Ammo jumped between 5 percent and 15 percent. Gun stocks in the past have surged following mass shootings, civil unrest and fears of gun control that have led to people to buy more firearms out of fear that their availability would become limited.
Shares of private prison operators Geo Group and CoreCivic each jumped about 8 percent. Both are potential beneficiaries of a Trump presidency as he has promised to crack down on illegal immigration, which could boost demand for detention centers.
Video-sharing platform Rumble, popular with conservatives, soared 21 percent. Clean energy stocks slipped as Trump has said he would reverse many of the Biden administration’s signature climate policies, including tax incentives, if he wins the election.
The Invesco Solar ETF fell 5.9 percent and the iShares Global Clean Energy ETF fell 3.9 percent.
The iShares MSCI China ETF dropped about 2 percent. Investors believe a second Trump presidency could fuel trade tensions between Beijing and the United States. US voters view Trump as the better candidate for the economy, according to Reuters/Ipsos polls, even as Biden’s White House seeks to benefit from a solid economy with inflation slowing and low unemployment.
“In the absence of any real policy proclamations from Trump, traders are finding themselves having to speculate,” said Mark Malek, chief investment officer of Siebert Financial Corp.
“A second Trump presidency would mean expansionary economic stimulus in general, lower income taxes, less regulation, and increased tariffs.”

Topics: 2024 US Elections

Bangladesh opposition party rallies to demand a new election

Bangladesh opposition party rallies to demand a new election
Updated 20 sec ago
AP
Follow

Bangladesh opposition party rallies to demand a new election

Bangladesh opposition party rallies to demand a new election
Updated 20 sec ago
AP

DHAKA: Thousands of activists and leaders of the opposition Bangladesh Nationalist Party on Tuesday rallied in the nation’s capital to demand a democratic transition through an election as an interim government has yet to outline a time frame for new voting.

The supporters gathered in front of BNP headquarters in Dhaka, where they chanted slogans demanding a new election.

The interim government headed by Nobel laureate Muhammad Yunus has rolled out a number of plans to reform various sectors of the country, from the Election Commission to financial institutions. But major political parties — including the BNP, which is headed by former Prime Minister Khaleda Zia — want the new election sometime soon.

Yunus took the helm after former Prime Minister Sheikh Hasina fled the country amid a mass uprising last month, ending a 15-year spell in power. The protests began in July and later morphed into an anti-government movement. Hasina has been living in India since.

In his recent speeches, Yunus hasn’t outlined a time frame for a new national election and said they would stay in power as long as the people want them to stay. A team of newspaper editors recently said that Yunus should complete crucial reforms first and stay in power for at least two years.

The BNP initially demanded an election in three months, but later said it wants to allow the interim government some time for reforms to be undertaken. The country’s main Islamist Jamaat-e-Islami party, which was once officially an alliance partner under Zia’s party, also wants to give the Yunus-led government more time before an election is conducted.

Topics: Bangladesh

Related

After historic Pakistan win, Bangladesh Tests ‘no dress rehearsal’, says India’s Rohit
Sport
After historic Pakistan win, Bangladesh Tests ‘no dress rehearsal’, says India’s Rohit
Special Bangladesh urges India to keep Sheikh Hasina ‘quiet’ in ‘best interest’ of bilateral ties video
World
Bangladesh urges India to keep Sheikh Hasina ‘quiet’ in ‘best interest’ of bilateral ties

Afghanistan reopens its embassy in Oman, the Taliban say

An exterior view of Afghanistan's Embassy in Muscat, Oman. (Twitter @HafizZiaAhmad)
An exterior view of Afghanistan's Embassy in Muscat, Oman. (Twitter @HafizZiaAhmad)
Updated 17 September 2024
AP
Follow

Afghanistan reopens its embassy in Oman, the Taliban say

An exterior view of Afghanistan's Embassy in Muscat, Oman. (Twitter @HafizZiaAhmad)
  • The Foreign Ministry said that 39 diplomatic missions are now under Taliban control
Updated 17 September 2024
AP

DUBAI, United Arab Emirates: Afghanistan’s Embassy in Oman has reopened, an official in Kabul said Tuesday, the latest sign of the growing inclusion of the Taliban among Gulf Arab countries following the United Arab Emirates’ acceptance of a Taliban ambassador last month.
The development also comes after the Taliban said in July that they no longer recognize diplomatic missions set up by the former, Western-backed government. Most countries still have not accepted the Taliban as Afghanistan’s legitimate government.
According to Zia Ahmad Takal, deputy spokesman of the Foreign Ministry in Kabul, the embassy in Muscat, Oman’s capital, resumed operations on Sunday.
There was no immediate confirmation from Omani authorities and no reports from the sultanate’s state-run news agency about the embassy’s reopening.
“The work of the embassy is carried out regularly by diplomats of the Foreign Affairs Ministry of the Islamic Emirate of Afghanistan,” said Takal, using the Taliban name for their government.
“The resumption of embassy activities in cooperation with the host country will play a constructive role in strengthening the political, economic, social and religious relations between Kabul and Muscat,” Takal added.
The Foreign Ministry said that 39 diplomatic missions are now under Taliban control.
There is a deepening divide in the international community on how to deal with the Taliban, who have been in power for three years and face no internal or external opposition. And even though the Taliban and the West remain at loggerheads, Afghanistan’s rulers have pursued bilateral ties with major regional powers.
Last month, Uzbek Prime Minister Abdulla Aripov arrived in Afghanistan in the highest-level visit by a foreign official since the Taliban seized power in Afghanistan in August 2021.
As part of expanding their reach, the Taliban have moved to take control of the country’s embassies and consulates overseas.
The embassies in London and Oslo announced their closures this month, while others in Europe and beyond have continued to operate.

 

Topics: Sultanate of Oman Afghanistan

Related

Construction begins of Afghan section of Turkmenistan, Afghanistan, Pakistan and India pipeline
Pakistan
Construction begins of Afghan section of Turkmenistan, Afghanistan, Pakistan and India pipeline
Taliban have suspended polio vaccination campaigns in Afghanistan, UN says
World
Taliban have suspended polio vaccination campaigns in Afghanistan, UN says

12-year-old boy youngest to be sentenced over UK riots

12-year-old boy youngest to be sentenced over UK riots
Updated 17 September 2024
AP
Follow

12-year-old boy youngest to be sentenced over UK riots

12-year-old boy youngest to be sentenced over UK riots
  • The boy had earlier admitted to a charge of violent disorder in the town of Southport on July 31
  • District Judge Wendy Lloyd sentenced the boy Tuesday to a three-month curfew order and a 12-month referral order, which requires him to commit to a rehabilitative program
Updated 17 September 2024
AP

LONDON: A 12-year-old boy who threw stones at police during rioting outside a mosque has become the youngest person to be sentenced so far over far-right riots that erupted in England this summer.
The boy, who can’t be identified because of his age, had earlier admitted to a charge of violent disorder in the town of Southport on July 31.
District Judge Wendy Lloyd sentenced the boy Tuesday to a three-month curfew order and a 12-month referral order, which requires him to commit to a rehabilitative program.
She told the boy the riots had “shaken society to the core.” “It was an angry mob and you chose to be part of it,” she said.
Rioting in Southport kicked off soon after a stabbing attack at a dance class in the town that left three young girls dead. False rumors spread online that the suspect in the attack was an asylum-seeker.
The boy was part of a crowd of hundreds of rioters who set a police van on fire and tried to storm the Southport Islamic Society Mosque.
The violence quickly spread around towns and cities around the country, but the unrest fizzled out after the swift charging and sentencing of those found to be involved.
Police have made more than 1,000 arrests and brought more than 800 charges.

Topics: UK far-right riots Southport Islamic Society Mosque

Related

FIA personnel escort Farhan Asif (C), arrested allegedly over cyber terrorism, to a court in Lahore.
World
Pakistani detained over disinformation linked to UK riots
Update UK PM warns of consequences after far-right violence targets mosques, asylum-seeker hotel
World
UK PM warns of consequences after far-right violence targets mosques, asylum-seeker hotel

Budapest and Poland’s Wroclaw reinforce river banks ahead of more flooding in Central Europe

Budapest and Poland’s Wroclaw reinforce river banks ahead of more flooding in Central Europe
Updated 17 September 2024
AP
Follow

Budapest and Poland’s Wroclaw reinforce river banks ahead of more flooding in Central Europe

Budapest and Poland’s Wroclaw reinforce river banks ahead of more flooding in Central Europe
  • Heavy flooding has affected a large part of the region in recent days, including the Czech Republic, Slovakia and Austria
  • Around 20 deaths were reported in the flooding, which followed heavy rainfall but the full human cost was still not clear
Updated 17 September 2024
AP

WARSAW: Soldiers and firefighters used sandbags to reinforce river embankments and delivered food and drinking water to cut-off communities as the worst flooding in years moved Tuesday across a broad swath of Central Europe, taking lives and destroying homes.
Heavy flooding has affected a large part of the region in recent days, including the Czech Republic, Slovakia and Austria. Around 20 deaths were reported in the flooding, which followed heavy rainfall but the full human cost was still not clear. Casualties have been reported in Romania, Austria, the Czech Republic and Poland.
In some areas, the waters were receding, leaving behind mounds of debris. As reports of looting came in, government and military authorities vowed to crack down on perpetrators. Gen. Wiesław Kukuła, Chief of the General Staff of the Polish Army, said the military was deploying soldiers equipped with night vision and thermal imaging devices to support the police in areas where people had to leave for higher ground.
“Looters, night and lack of electricity will no longer be your ally,” he tweeted late Monday.
Other places braced for the worst yet to come, including two Central European gems: Budapest, the Hungarian capital on the Danube River, and Wroclaw, a city in southwestern Poland on the Oder River which boasts a Gothic cathedral and other historic landmarks.
Hungary deployed soldiers to reinforce barriers along the Danube as thousands of volunteers filled sandbags in dozens of riverside settlements.
In Budapest, authorities closed the lower quays, which were expected to be breached by rising waters. The lower half of the city’s iconic Margaret Island was also closed.
In Wroclaw, firefighters and soldiers worked through the night to reinforce river embankments with sandbags. The city zoo, located on the Oder, appealed for volunteers to fill sandbags on Tuesday morning.
“We and our animals will be extremely grateful for your help,” the zoo said.
The city said it expected the flood wave to peak there around Friday, though some had predicted that would happen sooner. Poland’s Prime Minister Donald Tusk met with a crisis team early Tuesday and said there are contradictory forecasts from meteorologists.
Tusk’s government has declared a state of natural disaster across southern Poland.
To the south of Wroclaw, residents spent the night fighting to save Nysa, a town of 44,000 people, after the Nysa Klodzka River broke its banks the day before. Mayor Kordian Kolbiarz said 2,000 “women, men, children, the elderly” came out to try to save their town from the rising waters, forming a human chain that passed sandbags to the river bank.
“We simply … did everything we could,” Kolbiarz wrote on Facebook. “This chain of people fighting for our Nysa was incredible. Thank you. We fought for Nysa. Our home. Our families. Our future.”
Later on Tuesday, authorities in Nysa said the city center had been saved from the flooding.
In Bratislava, the capital of Slovakia, the deputy mayor for the environment, Jakub Mrva, said the level of the Danube had peaked and would slowly decrease. He said that mobile barriers had saved the historic center, but that there was still damage, including to tram lines.
“We also observed major damage at the zoo, which is flooded, and there is relatively high damage in the city forests of Bratislava, where many trees have perished,” Mrva told The Associated Press in an interview, speaking next to the flooded banks of the Danube.
In the Czech Republic, waters have been receding in the two hardest-hit northeast regions. The government approved the deployment of 2,000 troops to help with clean-up efforts. The damage is expected to reach billions of euros.
The Czech government also scrambled to help local authorities organize regional elections on Friday and Saturday as several schools and other buildings serving as polling stations were badly damaged. However, a planned evacuation of some 1,000 in the town of Veseli nad Luznici could be postponed as the waters had not reached critical levels so far.

Topics: Central Europe floods Poland Budapest Slovakia

Related

Deadly floods bring relief to Moroccan farmers
Middle-East
Deadly floods bring relief to Moroccan farmers
Central European flooding widens as death toll rises
World
Central European flooding widens as death toll rises

Afghanistan reopens its embassy in Oman, the Taliban say

Afghanistan reopens its embassy in Oman, the Taliban say
Updated 17 September 2024
AP
Follow

Afghanistan reopens its embassy in Oman, the Taliban say

Afghanistan reopens its embassy in Oman, the Taliban say
  • This is latest sign of growing inclusion of Taliban among Gulf countries
  • Last month the United Arab Emirates accepted a Taliban ambassador 
Updated 17 September 2024
AP

DUBAI: Afghanistan’s Embassy in Oman has reopened, an official in Kabul said Tuesday, the latest sign of the growing inclusion of the Taliban among Gulf Arab countries following the United Arab Emirates’ acceptance of a Taliban ambassador last month.
The development also comes after the Taliban said in July that they no longer recognize diplomatic missions set up by the former, Western-backed government. Most countries still have not accepted the Taliban as Afghanistan’s legitimate government.
According to Zia Ahmad Takal, deputy spokesman of the Foreign Ministry in Kabul, the embassy in Muscat, Oman’s capital, resumed operations on Sunday.
There was no immediate confirmation from Omani authorities and no reports from the sultanate’s state-run news agency about the embassy’s reopening.
“The work of the embassy is carried out regularly by diplomats of the Foreign Affairs Ministry of the Islamic Emirate of Afghanistan,” said Takal, using the Taliban name for their government.
“The resumption of embassy activities in cooperation with the host country will play a constructive role in strengthening the political, economic, social and religious relations between Kabul and Muscat,” Takal added.
The Foreign Ministry said that 39 diplomatic missions are now under Taliban control.
There is a deepening divide in the international community on how to deal with the Taliban, who have been in power for three years and face no internal or external opposition. And even though the Taliban and the West remain at loggerheads, Afghanistan’s rulers have pursued bilateral ties with major regional powers.
Last month, Uzbek Prime Minister Abdulla Aripov arrived in Afghanistan in the highest-level visit by a foreign official since the Taliban seized power in Afghanistan in August 2021.
As part of expanding their reach, the Taliban have moved to take control of the country’s embassies and consulates overseas.
The embassies in London and Oslo announced their closures this month, while others in Europe and beyond have continued to operate.

Topics: Taliban Oman Afghanistan embassy in Oman Arab News Pakistan Dubai

Latest updates

Runners-up Yokohama thrashed 7-3 in goal fest
Runners-up Yokohama thrashed 7-3 in goal fest
X drops out of global media brands ranking
X drops out of global media brands ranking
Mbappe bolstering holders Madrid’s Champions League ambitions
Mbappe bolstering holders Madrid’s Champions League ambitions
What We Are Reading Today: ‘Britain’s Birds’
What We Are Reading Today: ‘Britain’s Birds’
Egypt affirms keenness on Lebanon’s security, preventing violation of its sovereignty, statement says
Egypt affirms keenness on Lebanon’s security, preventing violation of its sovereignty, statement says

Search form

Print Edition
Read pdf version Subscribe now
© 2024 SAUDI RESEARCH & PUBLISHING COMPANY, All Rights Reserved And subject to Terms of Use Agreement.