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Currency War, Amazon Dips, TTWO Climbs, Disney Earnings & Why Fortinet (FTNT) Stock is a Strong Buy | Free Lunch

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On today’s episode of Free Lunch here at Zacks, Associate Stock Strategist Ben Rains dives into the escalating trade war between the U.S. and China that turned into a currency fight Monday. The shows then moves onto Amazon’s (AMZN - Free Report) recent woes, Take-Two Interactive’s (TTWO - Free Report) major surge, and much more, including a Disney (DIS - Free Report) earnings preview.

The Dow and the S&P 500 suffered major downturns Monday after President Trump called China a currency manipulator. The Chinese yuan fell as much as 1.9% to a record offshore low. The U.S. Treasury also labeled China a currency manipulator for the first time in over 20 years. In retaliation, Beijing announced that Chinese companies will suspend U.S. agricultural purchases.

The heightened trade war worries, amid overall global economic uncertainty, could see the Federal Reserve consider more interest rate cuts this year. Meanwhile, Amazon stock has faced its worse downturn in more than a decade over the last week-plus.

Tuesday also saw Take-Two Interactive (TTWO - Free Report) stock soar nearly 10% after the video game maker impressed Wall Street, even as tech giants such as Google (GOOGL - Free Report) are set to enter the quickly growing gaming market.

All eyes on Wall Street will then turn to Disney (DIS - Free Report) after the closing bell, with the company set to report its Q3 fiscal 2019 financial results. But more than its results, investors need to watch for any updates on Disney’s streaming TV push as it prepares to challenge Netflix (NFLX - Free Report) , Amazon (AMZN - Free Report) , Apple (AAPL - Free Report) , and others.

The episode then closes with a look at why cybersecurity firm Fortinet, Inc. (FTNT - Free Report) is a new Zacks Rank #1 (Strong Buy) stock.

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