On today’s episode of Free Lunch, Ryan McQueeney discusses President Trump’s latest comments on the trade war and the impending vote of confidence facing U.K. Prime Minister Theresa May. He also recaps earnings results from the retail sector. Later, he highlights three cannabis stocks to watch as the farm bill passes.
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U.S. stocks were sharply higher on Wednesday morning, with Wall Street reacting positively to a pair of trade war headlines. First, President Trump himself drummed up optimism by saying in an interview that he would intervene in the arrest of Huawei’s CFO if it meant securing a trade deal with China. Also, investors liked a report from China that suggested the country would soon allow foreign companies greater access to its economy.
Across the pond, British Prime Minister Theresa May is facing a vote of confidence today after hardened pro-Brexit members of her party expressed frustration with her E.U. leave deals. The U.K. government has been in disarray for the past few weeks now, and the future of Brexit appears more uncertain than ever. Reports are that May will receive the support needed to avoid a no-confidence vote, but whether she can negotiate a deal that satisfies Conservatives remains to be seen.
Ryan recaps both of these stories on the opening segment of today’s episode. He also discusses the earnings results of American Eagle (
AEO - Free Report) and Dave & Buster’s ( PLAY - Free Report) , which saw mixed reactions in morning trading today.
Later, Ryan chats about the Farm Bill that was passed through the Senate yesterday afternoon. The House and President Trump are expected to support the bipartisan compromise that would prove billions of dollars in subsidies to American farmers.
The bill also includes language that would legalize the production of hemp throughout the United States. This has cannabis investors excited, as it offers a potential path to the American market for producers with a strategy focused on hemp.
The likes of Canopy Growth (
CGC - Free Report) and Cronos Group ( CRON - Free Report) have made plenty of headlines lately, but do these cannabis producers have a future in the U.S. hemp business? What about a company like New Age Beverages ( NBEV - Free Report) , which makes CBD-based drinks?
To help answer these questions, Ryan takes a look at the latest charts and trends for each of these three stocks. Make sure to check out the show to hear more!
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