Replies to post #116794 on Coffee Sipping Big Board Stocks

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Trump tweet: Flag burning must have 'consequences'
MARKETWATCH 9:40 AM ET 11/29/2016
President-elect suggests loss of citizenship as punishment

President-elect Donald Trump tweeted early Tuesday that burning the U.S. flag should have "consequences," suggesting loss of citizenship or a year in jail as punishment.

Trump's tweet runs up against two Supreme Court decisions that have affirmed the right to desecrate the flag: one in 1989 and another the following year.

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Nobody should be allowed to burn the American flag - if they do, there must be consequences - perhaps loss of citizenship or year in jail!

— Donald J. Trump (@realDonaldTrump) November 29, 2016

)

Trump's transition spokesman, Jason Miller, was asked about the rulings on CNN (http://www.cnn.com/2016/11/29/ politics/donald-trump-flag-burning-penalty-proposal/) Tuesday but did not respond to questions about the constitutional protections of flag burning. "Flag burning should be illegal," Miller said repeatedly.

While the Supreme Court has upheld flag burning as a right, another challenge could turn out differently depending on Trump's choice of justices. The high court is currently operating one member short of its full nine, following the death of Antonin Scalia in February. Trump is expected to pick a replacement for Scalia, and perhaps for other justices, during his presidency.

Read:Here's who Trump may tap to tilt Supreme Court to the right (http://www.marketwatch.com/story/heres-who-trump- may-tap-to-tilt-supreme-court-to-the-right-2016-11-09)

Flag desecration laws vary by country: it is illegal in China and North Korea, and also in democracies including Italy and Germany. Punishments include fines and jail time.

From the archive:Passion over flags extends far beyond the simmering Confederate flag controversy (http:// www.marketwatch.com/story/passion-over-flags-extends-far-beyond-the-simmering-confederate-flag-controversy-2015-06-23)

Congress debated the issue in 2006. Here's what Mitch McConnell, now the Senate majority leader, said at the time:

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Fun fact: Statement from Mitch McConnell during 2006 flag desecration amendment debate: pic.twitter.com/ceVk0tvnWC

— Carrie Dann (@CarrieNBCNews) November 29, 2016

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The Supreme Court ruled 5-4 in the 1989 case Texas v. Johnson that flag burning was a form of symbolic speech protected by the First Amendment. In 1990, the court affirmed the right to burn the flag in the United States v. Eichman case. That ruling was also 5-4.

It was unclear what if anything had precipitated the Trump tweet.

-Robert Schroeder; 415-439-6400; [e-mail]


(END) Dow Jones Newswires
11-29-160940ET
Copyright (c) 2016 Dow Jones & Company, Inc.

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Transocean falls on weak crude pricing (TheFlyOnTheWall)
FLY ON THE WALL 9:47 AM ET 11/29/2016
Shares were last down over 5.9% to $10.72. At that price next support is at $10.44. Resistance is at $10.88.

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Energy stocks soar as oil prices jump on hope of OPEC deal
MARKETWATCH 11:11 AM ET 11/30/2016
Symbol Last Price Change
XOM 88.0301down +2.1301 (+2.48%)
CVX 112.83 +3.49 (+3.19%)
RIG 12.74 +1.72 (+15.61%)
SLB 83.17down +3.25 (+4.07%)
HAL 53.7075down +5.9175 (+12.38%)
KMI 22.14up +0.74 (+3.46%)
CHK 7.04down +0.67 (+10.52%)
QUOTES AS OF 11:59:55 AM ET 11/30/2016
Shares of energy companies surged in premarket trade Wednesday, as hopes for an OPEC deal to cut production sent crude oil futures soaring. The SPDR Energy Select Sector ETF (XLE) ran up 3.4%, but it on course for a 16-month high. Among some of the sector heavyweights, shares of Exxon Mobil Corp.(XOM) rose 2.1%, of Chevron Corp.(CVX) gained 2%, of Transocean Ltd.(RIG) surged 6%, of Schlumberger Ltd.(SLB) shot up 3.2%, of Halliburton Co.(HAL) gained 4.2% of Kinder Morgan Inc.(KMI) rallied 3.7% and of Chesapeake Energy Corp.(CHK) ran up 6%. Crude oil futures rocketed 8% in early trade, amid reports OPEC was close to a deal (http://blogs.marketwatch.com/thetell/2016/11/30/opec-meets-in-vienna-to- hash-out-oil-deal-live-blog/) to cut production by 1.4 million barrels a day, and that Russia was considering deeper cuts.

-Tomi Kilgore; 415-439-6400; [e-mail]


(END) Dow Jones Newswires
11-30-161111ET
Copyright (c) 2016 Dow Jones & Company, Inc.