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FIRST ON FOX: Sen. Rand Paul, R-Ky., on Friday released his annual Christmas ‘Festivus’ report for the ninth year in a row, outlining $900 billion in government waste. 

Among notable instances, the National Institutes of Health allocated funds to study Russian cats on treadmills; photos of Barbies were utilized as identification to obtain COVID relief funds; the Department of Defense lost $169 million of outdoor-stored military gear; $6 million went towards tourism in Egypt by the United States Agency for International Development; and the Small Business Administration provided over $200 million to ‘struggling’ music artists such as Post Malone, Chris Brown and Lil Wayne.

Up from $30 trillion in debt in 2022, this year’s debt amounts to $34 trillion, the report also highlights. 

‘Who’s to blame for our crushing level of debt? Everybody,’ Paul wrote in the report. ‘This year, members of both parties in Congress voted to raise the debt ceiling, which empowered the government to borrow an unlimited amount of money until 2024. As Congress spends to reward its favored industries and pet projects, the American taxpayers are forced to pay the price through recordhigh inflation and crippling interest rates.’

He added: ‘The same big spenders teamed up, yet again, to continue sending Americans’ hard-earned money to foreign countries and funding endless wars, all while ignoring our porous southern border.’

Rand’s report highlighted government spending that included accepting Barbie doll photos to obtain COVID relief funds from a portion of an $800 billion allocation in Paycheck Protection Program funds. Other expenses highlighted were $659 billion for national debt interest, $33.2 million for transgender monkey research, $6 million for boosting Egyptian tourism and an unknown cost for USDA’s dog-walking research in summer. 

‘Researchers found the Labradors’ fur color did not affect their body temperatures after a hot summer’s walk. That’s it. That’s the taxpayerfunded, cutting-edge study,’ Paul wrote. ‘The Agricultural Research Service at the USDA, which funded the study at Southern Illinois University, gets $1.7 billion a year from Congress, but it’s unknown how much the hot dog study cost the taxpayer.’

Under Dr. Fauci’s leadership, the National Institute of Allergy and Infectious Diseases (NIAID) funded a study using $477,121 to force-feminize male rhesus macaques in a Florida lab, the report found. The experiment involved administering female hormones to these male monkeys to investigate potential vulnerabilities to HIV, even though critics argue monkeys are not susceptible to HIV. 

‘The lab worked to make male lab monkeys ‘transgender’ to address ‘social injustices’ suffered by ‘transgender persons’ such as ‘transgender women (TGW)-individuals who were assigned a male sex at birth but express their gender along a female spectrum,” the report read. 

Justin Goodman, Senior Vice President of the White Coat Waste Project, a watchdog group advocating for the suspension of taxpayer-funded animal testing, told Fox News Digital in a statement that ‘a growing majority of taxpayers — Republicans, Democrats, and Independents alike — oppose Uncle Sam’s wasteful, dangerous, and cruel animal experiments at home and abroad and don’t want to be forced to pay billions for these boondoggles.’ 

Paul cited White Coat Waste Project’s findings for the Russian cat lab, Fauci’s monkey island and others throughout the Festivus report. 

Additionally, there were undisclosed expenses for training Department of Homeland Security employees; studying Russian cats on treadmills and meth-head monkeys from a portion of $2.7 million; creating graphic novels on disinformation; and exploring COVID-19 ‘misinformation’ in black and rural communities totaling $3.8 million. 

Costs for ruining military equipment totaled $169 million, while expenses for entertainment and studies involving gambling monkeys, transgender monkeys and improper federal payments accumulated to $236 billion.

The Congressional Budget Office forecasts a staggering increase in national debt, estimating an average addition of $2 trillion annually for the coming decade. This translates to over $5 billion in debt daily over the next 10 years. 

‘As always, taking the path to fiscal responsibility is often a lonely journey, but, as I’ve done in years past, I will continue my fight against government waste this holiday season,’ Paul wrote. 

Last year, Paul’s report broke down $482 billion in wasteful spending, from the billions spent giving COVID relief funds to ineligible people to a $118,000 study on whether Marvel movie villain Thanos would really be able to snap his fingers while wearing the Infinity Gauntlet.

This post appeared first on FOX NEWS

On this episode of StockCharts TV’s Sector Spotlight, the last one of the year 2023, I assess current rotations in asset classes, as well as US sectors. This big picture calls for a continued/renewed strength for stocks over bonds. As I observe, money is rotating out of defensive sectors and getting distributed to others, keeping the market up and pushing things higher.

This video was originally broadcast on December 22, 2023. Click anywhere on the Sector Spotlight logo above to view on our dedicated Sector Spotlight page, or click this link to watch on YouTube.

Past episodes of Sector Spotlight can be found here.

#StaySafe, -Julius

In the fifth of a five-part special series on StockCharts TV‘s The Final Bar, Dave dives into the fascinating world of Bitcoin. Discover the incredible growth and performance of cryptocurrencies in 2023, surpassing even the stock market. Find out why Bitcoin’s sudden breakouts and significant rallies make it a compelling investment option.

Click here to take advantage of the StockCharts Holiday Sale!

This video originally premiered on December 22, 2023. Watch on our dedicated Final Bar page on StockCharts TV, or click this link to watch on YouTube.

New episodes of The Final Bar premiere every weekday afternoon at 4pm ET. You can view all previously recorded episodes at this link.

Last week’s statements from Fed Chairman Jerome Powell suggested that interest rate cuts could come soon, which resulted in a sharp rally in the stock market. This was a different narrative from the comments Powell made earlier, in which he suggested it was too early to speculate interest rate cuts.

Revised GDP slowed in the third quarter to 4.9%, and jobless claims rose to 205K. The Personal Consumption Expenditures (PCE) Index for November fell 0.1%. There hasn’t been a decline in this data point since April 2020. Year-over-year, PCE was up 2.6%, which is lower than economists expected. And core PCE was up 3.2% in November, which is lower than expectations but still higher than the 2% Fed target.

Other data shows that personal income and consumer spending rose, further reinforcing the economy’s health. All these data points are positive for the stock market and could move the broader stock market indices higher. If the trend continues, we could see a Santa Claus rally this year.

A Healthy Pullback

Stock market price action on Wednesday made investors jittery, and recession worries resurfaced. But pullbacks can be healthy. If you look at the daily chart of the Dow Jones Industrial Average ($INDU) below, you can see that the relative strength index (RSI) was overbought. Thus, a short-term pullback close to the previous high of just below 37,000 is healthy and an indication the index will resume its longer-term uptrend. So far, even though the Dow Jones Industrial Averaged closed slightly lower, the uptrend is still intact.

CHART 1: DAILY CHART OF DOW JONES INDUSTRIAL AVERAGE ($INDU). The index is still maintaining its uptrend despite the selloff on Wednesday. The previous high, slightly below 37,000, is the first support level to watch. Chart source: StockCharts.com. For educational purposes.

That the RSI dropped closer to 70 suggests momentum faded after the Dow’s nine-day winning streak. Since the Dow’s recent ascent was pretty steep, it’s a good idea to add a short-term moving average as a support level. In the chart below, a 15-day exponential moving average (EMA) was overlaid on the chart of the Dow Jones Industrial Average. The 15-day EMA isn’t too far off from the 37,000 level.

Small Caps Rising

Another area of focus is the price action of small-cap stocks. The January effect is all about small-cap stocks and we’ve seen this group of stocks rise from mid-December. Smaller companies benefit from a lower interest rate environment, since borrowing costs are lower. The daily chart of the S&P 600 Small Cap Index ($SML) below shows that small caps are trading at their yearly highs. If economic conditions sustain their current trend, 2024 should be a good year for small-cap stocks.

CHART 2: DAILY ONE-YEAR CHART OF S&P 600 SMALL CAP INDEX ($SML). Small caps have been shining since November, mainly because of lower interest rates. Small-cap stocks tend to perform better in January. Chart source: StockCharts.com. For educational purposes.

The Bond Market

Bond and stock prices are generally negatively correlated. Bond prices have risen since mid-October (see weekly chart below of iShares 20+ Year Treasury Bond ETF), which shows that Fed monetary decisions are affecting the financial markets. A higher interest rate environment made equity investors reluctant to buy stocks. But now that Treasury rates show signs of reversing, conditions are stabilizing. 

CHART 3: BOND PRICES ARE RISING. After struggling for several years, bonds may be starting to show their value. But it’s too early to tell if the uptrend will be long-term. Look for a break above the 105 level. Chart source: StockCharts.com. For educational purposes.

Treasury yields and bond prices move inversely, so with Treasury yields dropping, it’s no surprise that bond prices are rising. However, bond prices still have to go much higher before trending higher. A break above the 105 level would be positive for TLT and an indication to allocate a slightly larger portion of your portfolio to bonds. 

Now that inflation is cooling, the US dollar is moving lower (see chart below). The monthly chart shows that even though the US dollar is falling, it’s still high. If it continues lower and hits the July 2023 low, it could be an additional catalyst to send stocks and bonds rallying higher.

CHART 4: THE US DOLLAR IS FALLING BUT STILL HIGH, RELATIVELY SPEAKING. If inflation continues to cool, the US dollar could fall further, which could be bullish for stocks and bonds. Chart source: StockCharts.com. For educational purposes.

Stock Market Volatility

With inflation abating, investors have become more complacent, as indicated by the CBOE Volatility Index ($VIX) trading around 13. A low VIX suggests that investors aren’t fearful and are willing to invest in riskier assets. There’s not much concern about portfolio hedging.

CHART 5: LOW VOLATILITY MEANS INVESTORS ARE COMPLACENT. Although the CBOE Volatility Index shows that investors aren’t worried about hedging their portfolios, investors should watch this index as it can indicate a shift in investor sentiment. Chart source: StockCharts.com. For educational purposes.

But that can change, so investors need to keep an eye on the VIX. It tends to spike, and any signs of it moving out of its comfort zone should be a signal that perhaps things aren’t going to be optimistic for too long. It may not happen for a while, but it’s something to watch.

The stock market went through interesting ebbs and flows this year. There’s no telling what 2024 will be like, but you can stay on top of the stock market action using the tools available at StockCharts.com.

Happy holidays from the StockCharts team.

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation or without consulting a financial professional.

For last year’s Outlook, I wrote:

Perhaps our biggest callout for a major rally in 2023 is in gold.

Here we are over $2000 and, although gold has not doubled in price, it did rise by 25%.

For 2024, we stay with our call for higher gold prices. I am looking for a move to $2400, provided gold continues to hold $1980.

That statement was from December 1st.To add to that statement:

Trends for 2024 — Gold and Silver start their Last Hurrah

Here are some updated thoughts to add to the great content of the Outlook (which we highly recommend you get your free copy of):

The look of the daily charts in both gold and silver show even more potential in silver for the coming year. Gold has hit resistance and remains an underperformer to SPY. It still sits at the highs like a quiet blanket of safety.

Silver has yet to hit resistance. If it can take out 23.40, we see no reason why 27-30 is not attainable.

Regardless, have a look at the Outlook to understand more fully why these metals need to be a part of your investing plan.

Click this link to get your free copy of the Outlook 2024 and stay in the loop!

This is for educational purposes only. Trading comes with risk.

If you find it difficult to execute the MarketGauge strategies or would like to explore how we can do it for you, please email Ben Scheibe at Benny@MGAMLLC.com, our Head of Institutional Sales. Cell: 612-518-2482.

For more detailed trading information about our blended models, tools and trader education courses, contact Rob Quinn, our Chief Strategy Consultant, to learn more.

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Get your copy of Plant Your Money Tree: A Guide to Growing Your Wealth.

Grow your wealth today and plant your money tree!

“I grew my money tree and so can you!” – Mish Schneider

Follow Mish on Twitter @marketminute for stock picks and more. Follow Mish on Instagram (mishschneider) for daily morning videos. To see updated media clips, click here.

Mish in the Media

Mish discusses gold, silver and why self care and “all about me” can trend in 2024 in this video from Yahoo! Finance.

Coming Up:

December 27: Wrap up extended session, Benzinga

December 28: Singapore Breakfast Radio

January 2: The Final Bar with David Keller, StockCharts TV

January 5: Daily Briefing, Real Vision

Weekly: Business First AM, CMC Markets

ETF Summary

S&P 500 (SPY): 480 all-time highs, 465 underlying support.Russell 2000 (IWM): 200 pivotal and 194 support.Dow (DIA): Needs to hold 370.Nasdaq (QQQ): 410 resistance with support at 395.Regional Banks (KRE): 47 support, 55 resistance.Semiconductors (SMH): 174 pivotal support to hold this month.Transportation (IYT): Needs to hold 250.Biotechnology (IBB): 130 pivotal support.Retail (XRT): The longer this stays over 70.00 the better!

Mish Schneider

MarketGauge.com

Director of Trading Research and Education

On this week’s edition of StockCharts TV‘s StockCharts in Focus, Grayson we reveals a useful chart trick that will revolutionize your trading toolkit. Get ready to dive into the site, explore the tools, and walk through the features that will help you maximize the value of your stock charts.

Click here to take advantage of the StockCharts Holiday Sale!

This video originally premiered on December 22, 2023. Click on the above image to watch on our dedicated StockCharts in Focus page on StockCharts TV, or click this link to watch on YouTube.

You can view all previously recorded episodes of StockCharts in Focus at this link.

If you’re a Kansas City Chiefs or Philadelphia Eagles fan and ever wanted to try Donna Kelce’s famous cookies, then there’s a Christmas gift waiting for you at the stadium.

The mother of Jason and Travis Kelce is teaming up with Aramark Sports + Entertainment to make ‘Mama Kelce’s cookies’ available at each of her sons’ games on Christmas Day.

The cookies became famous when Donna Kelce delivered the chocolate chip cookies to both of her sons at Super Bowl 57 opening night in February. Only ever made for her sons, the famous football mom is now making her recipe available for people to try when the Chiefs host the Las Vegas Raiders and the Eagles play home to the New York Giants on Dec. 25.

‘I am so excited to work with Aramark to bring my cookies to Chiefs’ and Eagles’ fans on Christmas day,’ Donna Kelce said in a statement. ‘In this season of giving, it means so much to raise money for two great charities through an old-fashioned bake sale. My chocolate chip cookies have been a staple in our house for a long time, so it’s very special to share the recipe that my sons love with fans during the holidays.’

Even better, all proceeds from cookie sales will benefit Operation Breakthrough, based in Kansas City, and the Eagles Autism Foundation, based in Philadelphia. Aramark will match the donation to each organization as well.

NFL STATS CENTRAL: The latest NFL scores, schedules, odds, stats and more.

‘It’s even sweeter because the Eagles Autism Foundation and Operation Breakthrough will benefit; usually, it’s just my boys!’ Kelce added.

How to get ‘Mama Kelce’s cookies’

The famed chocolate chip cookies will only be available at Arrowhead Stadium and Lincoln Financial Field on Christmas Day. They can be found at these locations within the stadium.

Arrowhead Stadium: Kingdom Lodge (Section 136)Lincoln Financial Field: Headhouse Plaza, two club level markets and on the suite level

If you won’t be in the stands for the Christmas Day games, do not fear: You can try to make them on your own. The recipe can be found here for people to try.

This post appeared first on USA TODAY

NBC’s ‘Football Night In America,’ the pregame studio show before ‘Sunday Night Football’ airs, will have a different look for the rest of the 2023 season.

With host Maria Taylor beginning parental leave – her last show was Sunday before Week 15’s matchup between the Jacksonville Jaguars and Baltimore Ravens — NBC announced Monday that Ahmed Fareed will step in to fill the position.

Fareed’s first assignment in the role actually comes on Saturday, when NBC airs a Week 16 doubleheader; the Pittsburgh Steelers and Cincinnati Bengals play on NBC at 4:30 p.m. ET, followed by an 8 p.m. ET game between the Los Angeles Chargers and Buffalo Bills that will air exclusively on Peacock.

Fareed will next host the show in Week 17 before NBC’s broadcast of the Minnesota Vikings hosting the Green Bay Packers.

Here’s everything you need to know about Ahmed Fareed.

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Who is Ahmed Fareed?

Currently a host and reporter for a few different NBC Sports properties, Fareed had previously hosted ‘Football Night In America’ as a fill-in for Taylor. Fareed’s typical assignments are for the network’s ‘B1G College Countdown’ show, the ‘Chris Simms Unbuttoned’ vodcast, Premier League matches, horse racing and rugby. He also hosted the network’s coverage of the Breeders’ Cup World Championships on Nov. 3 and 4. Fareed has been an on site talent for NBC’s broadcasts of select college football games and handles hosting duties for Peacock’s Big Ten men’s basketball coverage and ‘MLB Sunday Leadoff.’

Fareed has also helped cover four Olympics for NBC Sports, most recently helping with hosting duties on USA Network for the 2022 Beijing Winter Olympics. He has been the anchor for the last two Paralympic Games for NBC.

Where did Ahmed Fareed previously work?

Fareed was already under the NBC umbrella, coming from NBC Sports Bay Area and NBC Sports California, where he served as a host and reporter from 2013-18. While in that role, Fareed’s coverage touched the area’s major sports teams, including the San Francisco 49ers and Oakland Raiders (prior to their relocation to Las Vegas), the Golden State Warriors, San Francisco Giants, Oakland Athletics, Sacramento Kings and San Jose Sharks.

Before that, Fareed was a host and reporter for MLB Network from 2011-12, where he appeared on shows such as ‘MLB Tonight,’ ‘Hot Stove,’ ‘Quick Pitch’ and ’30 Clubs in 30 Days.’

Where is Ahmed Fareed from?

Fareed is from Sparta, Michigan, a small town about 15 miles north of Grand Rapids. He graduated in 2002 from the S.I. Newhouse School of Public Communications at Syracuse, where he majored in broadcast journalism.

According to the Grand Rapids Press, Fareed had spent one year at Michigan State before he transferred to Syracuse. He went to Sparta High School and played quarterback for the football team and also played for the baseball team.

This post appeared first on USA TODAY

Oregon State and Washington State announced Thursday they have reached an agreement with 10 departing Pac-12 schools on revenue distribution for 2023-24 that ends a legal battle sparked by conference realignment.

Last week, Oregon State and Washington State were given control of the Pac-12 and assets when the state Supreme Court of Washington declined to review a lower court’s decision to grant the schools a preliminary injunction.

Financial terms of the settlement were not released, but in a joint statement Washington State and Oregon State said the departing members will forfeit a portion of distributions for this school year and guarantees to cover a specific portion of “potential future liabilities.”

“This agreement ensures that the future of the Pac-12 will be decided by the schools that are staying, not those that are leaving. We look forward to what the future holds for our universities, our student-athletes, the Pac-12 Conference and millions of fans,” Oregon State President Jayathi Murthy and Washington State President Kirk Schulz said in a statement.

The conference, which Oregon State and Washington State intend to keep alive and hope to rebuild, will retain its assets and all future revenues.

“We are pleased to have reached an agreement in principle that ends litigation,” the 10 departing schools said in a joint statement.

The Pac-12 was ripped apart this summer after the league’s leadership failed to land a media rights agreement that would keep it competitive with other power conferences.

Next year, USC, UCLA, Oregon and Washington will join the Big Ten; Arizona, Arizona State, Colorado and Utah will join the Big 12; and Stanford and California will join the Atlantic Coast Conference.

Oregon State and Washington State were left behind. The schools sued the conference and the 10 departing schools in September, claiming they should be the sole board members of the Pac-12.

Oregon State and Washington State said the other members relinquished their right to vote on conference business when they announced their departures and a Superior Court judge in Whitman County, Washington, agreed.

The departing schools appealed the ruling, but the Washington Supreme Court passed on hearing the appeal.

Oregon State and Washington State plan to operate as a two-team conference, allowable for two years by NCAA rule, and then rebuild.

They have a scheduling agreement in place with the Mountain West for football next season and are working on a deal to have an affiliation with the West Coast Conference for basketball and other Olympic sports for two years.

Oregon State and Washington State are in line to receive tens of millions in revenue over the next two years from current agreements the Pac-12 has with the College Football Playoff and Rose Bowl.

There are also potential liabilities. The Pac-12 is named as a defendant in an antitrust lawsuit along with the NCAA and other power conferences that could cost billions in damages.

This post appeared first on USA TODAY

Excited for the holidays? Got the winter blues? Panicked about shopping?

Whatever the case, the NFL is trying to do its part to augment, distract or supplement ‘the most wonderful time of the year.’ And that means a Thursday matchup between the New Orleans Saints and Los Angeles Rams with massive ramifications for the wild-card portion of the NFC playoff field … and possibly the NFC South. Saturday serves up two more games (Cincinnati Bengals-Pittsburgh Steelers, and Buffalo Bills-Los Angeles Chargers), the former another affair sure to impact postseason seeding and the latter featuring the Bills – arguably the AFC’s hottest team despite technically residing in ninth place overall in the conference.

A Christmas Eve Sunday is loaded with stocking stuffers, most notably the Dallas Cowboys’ visit to the Miami Dolphins, each club trying to lock down its division and possibly home-field advantage … amid whispers they’re paper reindeer. Christmas Day itself will arrive with three sizable presents under the tree – Las Vegas Raiders-Kansas City Chiefs, New York Giants-Philadelphia Eagles and Baltimore Ravens-San Francisco 49ers in prime time in what legitimately could be a Super Bowl 58 preview.

So see the fam, finish up that wrapping, then grab some eggnog and settle in for kickoff. Happy holidays. (And this is how our experts see the weekend unfolding …)

NFL Week 16 game picks

(Odds provided by BetMGM. Access more BetMGM odds here.)

NFL STATS CENTRAL: The latest NFL scores, schedules, odds, stats and more.

Week 16 NFL game-by-game predictions, picks, odds

New Orleans Saints at Los Angeles RamsCincinnati Bengals at Pittsburgh SteelersBuffalo Bills at Los Angeles ChargersIndianapolis Colts at Atlanta FalconsGreen Bay Packers at Carolina PanthersCleveland Browns at Houston TexansDetroit Lions at Minnesota VikingsWashington Commanders at New York JetsSeattle Seahawks at Tennessee TitansJacksonville Jaguars at Tampa Bay BuccaneersArizona Cardinals at Chicago BearsDallas Cowboys at Miami DolphinsNew England Patriots at Denver BroncosLas Vegas Raiders at Kansas City ChiefsNew York Giants at Philadelphia EaglesBaltimore Ravens at San Francisco 49ers

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This post appeared first on USA TODAY