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The Trump voters in swing states who are returning to the fold

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6/6
The Trump voters in swing states who are returning to the fold
© Reuters. Memorabilia are displayed at the home of Trump supporter Camilla Moore, in Atlanta, Georgia, U.S., December 15, 2023. REUTERS/Megan Varner

2/6

By Tim Reid, Nathan Layne and James Oliphant

(Reuters) – Donald Trump begins 2024 as the clear frontrunner for the Republican presidential nomination despite facing scores of criminal charges, a dynamic that would doom most other candidates and has confounded his political opponents.

Those criminal charges include indictments for his efforts to overturn the 2020 election culminating in the Jan. 6, 2021 attack on the U.S. Capitol by his supporters.

To try to understand his enduring appeal, Reuters spoke to five Trump supporters in five general election battleground states: Nevada, Georgia, Arizona, Pennsylvania, and Michigan.

Trump currently leads Democratic President Joe Biden in several swing state general election polls, suggesting he will be highly competitive in a likely re-match next November.

Although all five Republicans voted for Trump in 2016 and 2020, three began 2023 open to other Republican candidates, including two who said they initially planned to vote for Florida Governor Ron DeSantis.

As voting in the Republican nomination contest kicks off in the Iowa caucuses on Jan. 15, four now see Trump as their party’s best hope to defeat Biden in November. They cite Trump’s isolationist foreign policy, criminal charges, and hard line on immigration as key reasons for their return.

None are full-blown “election deniers” backing Trump’s false claims that he, and not Biden, won the 2020 election. But they say the U.S. election system needs greater oversight.

All said they saw Trump as a strong leader and none considered him racist, despite past comments decrying Haiti and some African nations as “shithole” countries which stirred widespread criticism and recent accusations that migrants were “poisoning the blood” of America, language used by Nazi dictator Adolf Hitler about Jewish people. The Trump campaign has dismissed criticism of the former president’s language as “nonsensical, arguing that similar language was prevalent in books, news articles and on TV.

MARK LIPP, BUSINESS CONSULTANT, NEVADA

A year ago Mark Lipp, 68, knew who he wanted to vote for in the Republican presidential primaries: Florida Governor Ron DeSantis, “because there was so much commotion around the name Trump.”

Yet Lipp – who sold his fiber-optic cable business in 2014 and lives in an 8-bedroom, 12-bathroom mansion in Las Vegas – is today all in for Trump.

Lipp says his return to Trump began with Russia’s invasion of Ukraine. In March 2023, DeSantis downplayed the invasion, calling it a “territorial dispute”.

“That really made me wonder about DeSantis’s knowledge of international politics and how it affects the United States. It really concerned me,” Lipp said.

Lipp, an observant Jew who grew up in the Bronx and who has an Israeli wife, said that as 2023 progressed he came to see Trump as the only presidential candidate capable of dealing with Russia’s invasion of Ukraine, and growing friction with China.

When the Palestinian militia group Hamas attacked Israel on October 7, 2023, killing over 1,200 Israelis and triggering a war in Gaza, Lipp said that sealed the deal for him.

“Trump has a business background and he’s a great negotiator. He has a strong personality. These conflicts can be resolved through negotiation, and Trump is the right man at the right time.”

CAMILLA MOORE, RETIRED CITY MANAGER, GEORGIA

When Trump’s mugshot lit up news broadcasts last August after he was booked on felony charges related to his efforts to overturn his 2020 election loss in Georgia, Camilla Moore said she was bombarded with calls and messages from other Black people who said they could relate to the former president.

“The Black community can really sympathize with what Trump is going through because this is (our)history,” said Moore, 64, who lives outside Atlanta. “Black people know about trumped-up charges, someone who’s been unfairly targeted by the law.”

Trump’s legal woes differ greatly from the historic inequities Black Americans have experienced in the criminal justice system.

As chair of the Georgia Black Republican Council, Moore says she is required to stay neutral in the primary but would happily vote for Trump if he is the nominee. She liked Trump’s record on the economy and said the Ukraine and Gaza conflicts made her appreciate his “unpredictable” approach to foreign leaders, believing it would have averted those wars.

Moore said Fulton County District Attorney Fani Willis, who brought the charges against Trump in Georgia, is overstepping her jurisdiction in prosecuting a federal election matter.

Moore views the federal prosecution of Trump for election subversion differently, saying she would accept a verdict if the evidence was overwhelming and the trial conducted fairly.

With talk of compromise and civility, Moore sounds like a Republican from another era. The hallway of her home is adorned with pictures of presidents from both parties, including a framed invitation to former Democratic President Barack Obama’s 2009 inauguration, which she attended as a member of the Georgia Republican Party’s executive committee.

“I always respect the office of the president, regardless of who sits in it,” she said. “Because we are Americans, right?”

CARLOS RUIZ, SMALL BUSINESS OWNER, ARIZONA

Carlos Ruiz sells custom-cut raw material to manufacturers including aircraft and medical device makers. The MBA and metallurgy graduate founded his Tucson-based company 21 years ago and runs it with his wife and three other employees.

Ruiz, 60, began 2023 supporting DeSantis, impressed by his record in Florida and his landslide re-election as governor in 2022, at a time when many Trump-backed Republicans lost.

“Early on, I thought Trump’s had his four years, and there’s other candidates like DeSantis emerging,” Ruiz said from his office in a business park on the outskirts of Tucson.

Then two issues rallied Ruiz behind Trump again.

The first was the increase in migrants crossing the Mexican border, 60 miles south of Ruiz’s home. Since Biden took office, arrests of migrants at the border have reached record highs.

“We don’t know who these people are,” Ruiz said, adding many are young men, some of whom could be terrorists. Despite Trump’s hard line rhetoric on immigration, there is no evidence that potential terrorists have crossed the border.

Ruiz praised policies introduced by Trump when he was president including building some new sections of border wall, and keeping asylum seekers in Mexico.

“Trump introduced common-sense policies that changed the attraction for all of these people coming into the country. He’s already proved he can do it and the policies were working.”

The second issue that swung Ruiz back behind Trump was the multiple criminal charges against him. Ruiz likened the indictments to Biden and the Democrats using “banana republic” tactics against Trump.

“That gives the green light to every tyrant at all levels of government to do the same thing to anybody,” Ruiz said, echoing the words of Trump in campaign speeches.

The Biden administration has denied any involvement in pursuing cases against Trump.

MEGAN CHUDEREWICZ-ADAMS, SALES MANAGER, PENNSYLVANIA

Megan Chuderewicz-Adams, 43, had been a staunch Trump supporter when COVID-19 hit and school shutdowns caused her to question whether he was deferring too much to Dr. Anthony Fauci, the top U.S. infectious disease official who became the face of America’s pandemic response under Trump.

But ultimately Chuderewicz-Adams, the married mother of a five-year-old son in a Pittsburgh suburb, decided the blame for what she viewed as overly restrictive COVID policies shouldn’t lie with Trump, but with her state’s governor.

“I think we suffered more in Pennsylvania than we would have living in another state,” said Chuderewicz-Adams, a sales and marketing manager for a property developer.

While she says DeSantis did a “great job” running Florida, where he came out against many COVID restrictions, she doesn’t think he is worthy of unseating Trump.

Chuderewicz-Adams ran successfully for the Plum Borough School District board in November 2021. She campaigned on “parental choice” and against “indoctrination,” part of a wave of conservative women who sought school board seats to contest mask and vaccine mandates and to curtail the instruction of sexuality and racial identity in public schools.

Chuderewicz-Adams likes that Trump speaks without a filter, dismissing the uproar over his “poisoning the blood” comments as alarmist. And she thinks it wrong to single Trump out for the Jan. 6 attack. “It wasn’t a good day,” she said. “But I don’t hold one man responsible.”

RANDY JOHNSON, TOWNSHIP SUPERVISOR, MICHIGAN

As the supervisor of Adams Township, a section of rural Michigan of about 2,300 mainly working-class residents, Randy Johnson is the person you call if you have a zoning complaint or a problem with a neighbor.

Johnson, 65, looks around the township and doesn’t like what he sees: Families that don’t have enough to eat, who can’t afford reliable cars or to heat their homes. He worries about military veterans. “We’re in a downward spiral,” he said.

To Johnson, migrants crossing across the U.S. southern border deserve some of the blame. He said they are soaking up government resources that could be better used somewhere else.

“Why is it our government would help somebody who isn’t an American, isn’t sitting here and hasn’t grown up here their whole life?” he said.

Johnson likes Trump’s tough stance on migration, and believes Trump will slow the crossings and deport as many migrants as feasibly possible.

Like many of Trump’s supporters, Johnson said he wishes Trump would tone down his rhetoric, but he’s not ready to abandon him for DeSantis, whom he also admires.

Johnson stops short of calling the 2020 election rigged but harbors suspicions about Biden’s victory. Press Johnson harder and he will tell you those who stormed the U.S. Capitol were simply “voicing their opinion.”

Johnson can’t foresee any way Trump could legitimately lose again to Biden. He fears violence should the Republican fail to return to the White House.

It’s why the Second Amendment – the right to bear arms – is in the Constitution, he said: “Not to protect yourself from your neighbor but to protect yourself from your government.”

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Three bodies found in Mexico where Australian, US tourists went missing – sources

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Oil prices fall, head for steepest weekly drop in three months

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By Nicole Jao

NEW YORK (Reuters) -Oil prices edged lower on Friday, and were on course for their steepest weekly loss in three months, as investors weighed weaker-than-expected U.S. jobs data and the timing of a Federal Reserve interest rate cut.

futures for July were down 46 cents, or 0.55%, to $83.21 a barrel at 1:30 p.m. EDT (1730 GMT). U.S. West Texas Intermediate crude for June fell 51 cents, or 0.65%, to $78.44 a barrel.

Both benchmarks are set for weekly losses as investors are concerned that higher-for-longer interest rates will curb economic growth in the United States, the world’s leading oil consumer, as well as in other parts of the world.

Brent was on course for a weekly decline of about 7% while WTI was headed for a loss of 6.5% on the week.

U.S. job growth slowed more than expected in April and the annual wage gain cooled, data showed on Friday, prompting traders to raise bets that the U.S. central bank will deliver its first interest rate cut this year in September.

“The economy is slowing a little bit,” said Tim Snyder, economist at Matador Economics. “But (the data) gives a path forward for the Fed to have at least one rate cut this year,” he said.

The Fed held rates steady this week and flagged high inflation readings that could delay rate cuts. Higher rates typically weigh on the economy and can reduce oil demand.

The market is repricing the expected timing of possible rate cuts after the release of softer-than-expected monthly jobs data, said Giovanni Staunovo, an analyst at UBS.

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U.S. energy companies this week cut the number of oil and rigs operating for a second week in a row, to the lowest since January 2022, Baker Hughes said in its closely followed report on Friday.

The oil and gas rig count, an early indicator of future output, fell by eight to 605 in the week to May 3, in the biggest weekly decline since September 2023. The number of oil rigs fell seven to 499 this week, in the biggest weekly drop since November 2023. [RIG/U]

Geopolitical risk premiums due to the Israel-Hamas war have faded as the two sides consider a temporary ceasefire and hold talks with international mediators.

Further ahead, the next meeting of OPEC+ oil producers – members of the Organization of the Petroleum Exporting Countries and allies including Russia – is set for June 1.

Three sources from the OPEC+ group said it could extend its voluntary oil output cuts beyond June if oil demand does not increase.

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Fortinet stock target cut, retains sector perform rating on mixed financial results

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On Friday, RBC Capital made adjustments to its outlook on Fortinet shares (NASDAQ:), a company specializing in cybersecurity solutions. The firm reduced its price target on the stock to $68.00 from the previous $71.00. Despite the change in stock price target, the analyst maintained a Sector Perform rating on the shares.

The analyst from RBC Capital provided insights into the rationale behind the price target adjustment, citing a mixed financial performance in the recent quarter and forecast that might impact the stock’s performance in the short term.

The commentary highlighted that while the additional information regarding backlog and billings, as well as the firewall cycle, was beneficial, the second quarter of 2024 is expected to be the last period facing high comparative figures.

The report further mentioned that a rebound in billings and product revenue is anticipated in the third quarter of 2024. This optimism is based on the expectation that the current pressures on Fortinet’s business model will start to subside in the second half of 2024, potentially leading to a more favorable position for the company’s stock.

Fortinet’s financials and future prospects were a significant focus of the analysis, with the expectation that easing pressures would contribute to growth. The analyst’s comments did not include specific details on the financial results but provided a general expectation of improvement in the company’s performance later in the year.

The stock price target revision and maintained rating by RBC Capital reflect a cautious but stable outlook for Fortinet as it navigates through its current financial cycle and prepares for the latter half of 2024.

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InvestingPro Insights

In light of the recent analysis by RBC Capital, Fortinet (NASDAQ:FTNT) shows a blend of strengths and valuation concerns as per InvestingPro data.

With a robust gross profit margin of 77.13% for the last twelve months as of Q1 2024, the company demonstrates a strong ability to retain earnings after the cost of goods sold. The management’s confidence is reflected in their aggressive share buyback strategy, which is an InvestingPro Tip indicating a bullish stance on the company’s value.

Still, investors should note that Fortinet is trading at a high earnings multiple, with a P/E ratio of 41.52, suggesting a premium valuation. This is also supported by a PEG ratio of 1.12, which may indicate that the stock’s price is high relative to its earnings growth potential.

Furthermore, the company has experienced a significant price uptick over the last six months with a 29.16% return, which aligns with the analyst’s anticipation of a rebound in billings and product revenue in the third quarter of 2024.

For those considering an investment in Fortinet, there are additional InvestingPro Tips available that can provide deeper insights into the company’s financial health and market position. Currently, there are 14 more InvestingPro Tips listed, which can be accessed for a more comprehensive analysis. Interested readers can take advantage of a special offer using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.

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