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Robert F. Kennedy, Jr., who is running as an independent for president in 2024, issued a warning after Colorado’s Supreme Court blocked former President Donald Trump from the ballot because of his involvement in the attack on the Capitol in January 2021. 

‘If Trump is kept out of office through judicial fiat rather than being defeated in a fair election, his supporters will never accept the result. This country will become ungovernable,’ Kennedy, who initially launched a Democratic primary challenge to President Biden in April before switching to an independent 2024 bid in October, wrote on X. 

‘It’s time to trust the voters. It is up to the people to decide who the best candidate is. Not the courts. The people. That’s Democracy 101,’ Kennedy said. ‘When any candidate is deprived of his right to run, the American people are deprived of their right to choose.’

Calling for a swift reversal, Kennedy said the 4-3 Colorado decision deeming Trump ineligible for the White House under the U.S. Constitution’s insurrection clause ‘contributes to the perception that the elites are picking the President by manipulating the legal system, and through other interventions.’

‘Every American should be troubled by the Colorado Supreme Court’s decision to remove President Trump from the ballot,’ he wrote on X. ‘The court has deprived him of a consequential right without having been convicted of a crime. This was done without an evidentiary hearing in which he is given the basic right of confronting his accusers.’

In an earlier thread, Kennedy argued the U.S. would condemn foreign governments if they acted the way the Colorado Supreme Court has. 

‘When a court in another country disqualifies an opposition candidate from running, we say, ‘That’s not a real democracy.’ Now it’s happening here,’ Kennedy said. ‘I’m not a Trump supporter (if I were, I wouldn’t be running against him!) But I want to beat him in a fair election, not because he was kicked off the ballot. Let the voters choose, not the courts!’ 

Speaking to Fox News Digital, Mark Gorton and Tony Lyons, co-founders of Americas Voice 2024, a super PAC supporting Kennedy’s 2024 presidential campaign, highlighted similarities between the Colorado Trump ruling and efforts to censor Kennedy and block the longtime Democrat from the Democratic ticket.

‘Generally, these kinds of tactics to keep somebody off the ballot are the same kinds of tactics that the DNC (Democratic National Committee) used against him when he was campaigning in New Hampshire. And they were saying that they were going to penalize him in Georgia and South Carolina,’ Lyons told Fox News Digital, describing efforts he says the DNC is taking to block third-party candidates from ballots on a state-by-state basis. 

‘They’re going to do everything in their power to keep Bobby Kennedy off the ballot because they don’t want him on the stage with Joe Biden. And the RNC (Republican National Committee) doesn’t want Bobby on the stage with Donald Trump because he has better ideas, better arguments and better policies,’ Lyons said. ‘They’re using these tactics as a way to avoid dialogue and debate, to disenfranchise the American public, to, you know, take away voting rights that have been, you know, hard fought for 50 or 60 years. All of these tactics are anti-democratic tactics. And so I think that Bobby Kennedy is absolutely right to stand up for the right of even an opponent when he believes that what’s being done is not the right thing and unconstitutional.’

Noting how Kennedy is not a Trump supporter, Gorton echoed those sentiments, describing Kennedy as ‘a man of principle’ working against the ‘dirty games’ of the political establishment. 

‘The DNC is not just trying to do one thing to stop one candidate. They’re throwing the kitchen sink at every, you know, every Democratic letter. And whether it’s voting or rules for how you run the primary or ballot access or censoring people, it’s the same, you know, large-scale organization or large-scale network of people that instead of putting forth a candidate and letting the people choose, are constantly trying to corrupt and manipulate the system,’ Gorton told Fox News Digital. ‘The DNC — it’s amazing because they run around and are constantly talking about threats to democracy. Yet they’re the ones who are saying the American people shouldn’t get a choice, and they’re manipulating the system, and they’re censoring people. And that’s the ethic of the people in D.C. today, where they feel like they’re entitled to rule and that anything they do in the service of their own power is acceptable.’

This post appeared first on FOX NEWS

Former President Donald Trump’s legal team has filed its written response to Special Counsel Jack Smith’s request that the U.S. Supreme Court hear Trump’s immunity claims in the election interference criminal case against him. 

In their brief, the Trump team urged the high court not to rush things and accept the issue before the lower courts have heard the matter.

‘This appeal presents momentous, historic questions,’ the brief states. ‘An erroneous denial of a claim of presidential immunity from criminal prosecution unquestionably warrants this Court’s review. The Special Counsel contends that ‘[i]t is of imperative public importance that respondent’s claims of immunity be resolved by this Court.’

‘That does not entail, however, that the Court should take the case before the lower courts complete their review. Every jurisdictional and prudential consideration calls for this Court to allow the appeal to proceed first in the D.C. Court.’

Smith is expected to file a final written rebuttal in the next few days to urge the court to quickly accept the case on its merits. The justices will then privately consider whether to review the case. 

Smith has made his request for the high court to act quickly to prevent any delays that could push back Trump’s trial until after next year’s presidential election. 

A federal judge previously ruled the case could go forward, but Trump said he would ask the federal appeals court in Washington to reverse that outcome. Smith is attempting to bypass the appeals court — the usual next step in the process — and have the Supreme Court take up the matter directly.

‘This case presents a fundamental question at the heart of our democracy: whether a former President is absolutely immune from federal prosecution for crimes committed while in office or is constitutionally protected from federal prosecution when he has been impeached but not convicted before the criminal proceedings begin,’ prosecutors wrote.

Trump faces charges accusing him of working to overturn the results of the 2020 election in which he lost to President Biden before the violent Jan. 6, 2021, protest by his supporters at the U.S. Capitol. He has denied any wrongdoing.

Should the justices decline to step in, Trump’s appeal would continue at the U.S. Court of Appeals for the District of Columbia Circuit. Smith has asked for quick review there, too, but said even a rapid appellate decision might not get to the Supreme Court in time for review and final word before the court’s traditional summer break.

Fox News Digital’s Bradford Betz contributed to this report. 

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With less than four weeks to go until the first votes in the 2024 White House race, a new national poll indicates former President Donald Trump remains the commanding front-runner for the Republican nomination.

And a Quinnipiac University public opinion survey released Wednesday is also the latest to spotlight that Nikki Haley, the former ambassador to the United Nations and former South Carolina governor, is tied with Florida Gov. Ron DeSantis for a distant second place behind Trump.

Trump holds the support of two-thirds (67%) of Republican and GOP-leaning voters questioned in the poll, with Haley and DeSantis each drawing 11% support. 

Multimillionaire entrepreneur and first-time candidate Vivek Ramaswamy grabs the backing of 4%, with former New Jersey Gov. Chris Christie, who’s making his second presidential bid, at 3%.

Trump’s support is the highest in Quinnipiac polling this cycle, as is Haley’s, with DeSantis reaching a new low.

‘DeSantis continues his yearlong slide. Haley gains momentum. The battle for second place heats up, but it’s unlikely it will send a holiday chill through MAGA world,’ Quinnipiac University polling analyst Tim Malloy emphasized.

The Quinnipiac poll, conducted Dec. 14-18, is in line with other national polls in the Republican nomination race also released in recent days. Among those surveys is a Fox News poll conducted Dec. 10-13 that indicated Trump at 62% support, DeSantis at 12% and Haley at 9%.

A New York Times/Siena College survey in the field Dec. 10-14 put Trump at 64%, Haley at 11% and DeSantis at 9%.

Trump made history earlier this year as the first former or current president to be indicted for a crime, but his four indictments, including charges he tried to overturn his 2020 presidential election loss, have only fueled his support among Republican voters.

DeSantis for months was solidly in second place in the GOP nomination race, but his numbers have slipped recently.

Haley has enjoyed plenty of momentum in the polls this autumn, thanks in part to well-received performances in the first three Republican presidential primary debates. She leapfrogged DeSantis for second place in New Hampshire, which holds the first primary and votes second after Iowa. And she’s in second place in her home state, another crucial early voting state that holds the first southern contest.

Haley is also working to make a fight of it in Iowa, whose Jan. 15 caucuses lead off the GOP nominating calendar, as she pulled closer to DeSantis.

The new Quinnipiac national poll is the latest to indicate that Trump voters are much more firmly set on their choice for the nomination, compared to those backing other Republican contenders. Only 37% of Trump supporters said they may change their mind. That percentage soars to 82% for those supporting Trump’s rivals.

In the 2024 Democratic primary, President Biden stands at 75% support, with author Marianne Williamson, who is making her second straight White House run, at 13% and Rep. Dean Phillips of Minnesota at 5%.

In a likely general election matchup next November, the poll puts Biden at 47% and Trump at 46%, a virtual tie.

But when the November 2024 field expands to include third-party and independent candidates, Trump gains a slight edge over the president.

The poll indicates Trump at 38% and Biden at 36%, with environmental activist and high-profile vaccine skeptic Robert F. Kennedy, Jr., a scion of arguably the nation’s most famous family political dynasty, at 16%. Progressive university scholar Cornell West stands at 3%, along with Green Party candidate Jill Stein.

Kennedy and West face uphill climbs to obtain ballot access in states across the country.

The Quinnipiac poll is the latest to find Biden’s approval rating below 40%. He stands at 38% approval and 58% disapproval, basically unchanged from a month ago.

This post appeared first on FOX NEWS

Coming into 2023, we used the theme, “You can’t hunt with the hounds and run with the rabbit.” Those who stood back with the hounds, in search of a sure hit, were not only left behind, but missed the move higher as the rabbit got the best of them.

This coming year, as we transition into 2024 and into the Year of the Dragon, a new theme emerges. “If you can’t take the heat, don’t tickle the dragon.”

What could that mean? The market could be hot, but lots of circumstances can erupt to tickle the dragon and not necessarily in an amusing way. After all, we know that dragons love to expel fire.

How should you prepare for the coming year? Naturally, as traders, we do not marry any thesis. We watch price.

Click this link to get your free copy of our Market Outlook!

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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“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 makes the case for Vaxcyte (PCVX) and presents the bullish case for gold in this appearance on Business First AM from November 29th.

Mish talksabout money supply, debt, the consumer, inflation and trends that could gain traction in 2024 with Nicole Petallides on Schwab Network.

On the Tuesday, November 28 edition of StockCharts TV’s Your Daily Five, Mish presents 6 stock picks with specific actionable plans.

Mish covers the technical setup for Palo Alto and how MarketGauge’s quant models found this winner on Business First AM.

Mish and Maggie Lake cover inflation, technology, commodities and stock picks in this interview with Real Vision.

Coming Up:

December 21: Spaces with Mario Nawfal

December 22: Yahoo! Finance

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): Huge gap up last 2 days of the week that now needs to hold.

Mish Schneider

MarketGauge.com

Director of Trading Research and Education

In the second of a five-part special series on StockCharts TV‘s The Final Bar, Dave breaks down three market breadth indicators that tell the story of market conditions in 2023. By analyzing the S&P 500 Bullish Percent Index, the percentage of stocks above their 50-day moving average, and the McClellan Oscillator, we’ll show how narrow leadership trends in early 2023 transitioned to a much broader advance in the fourth quarter. Most importantly, we’ll share some signals we’re looking for in early 2024!

Click here to take advantage of the StockCharts Holiday Sale!

This video originally premiered on December 20, 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.

Shares of Costco (COST) rallied over 3% Monday on huge volume, fueled by last week’s strong earnings and a prominent Wall Street analyst upgrade, which raised the share price target to $700. COST is one of the strongest retailers in the industry, and the holiday season is likely to boost its sales further. That said, the price of $700 a share seems well within COST’s reach.

Running a scan for Strong Volume Gainers on Monday brought COST to our attention, and, with a SCTR score of 88.6, it seemed like an attractive prospect. But after looking at its trajectory, it becomes clear the stock was parabolic; well overbought and due for a decent-sized pullback.

Still, investors seemed ultra-bullish on the stock. And there are many fundamental reasons supporting its bullish outlook. So, as it pulls back, the challenge is to find a favorable entry point. Let’s take a look, starting with the big picture (see weekly chart of COST below).

CHART 1: WEEKLY CHART OF COSTCO. Note the parabolic rise beyond the 2022 high and the shooting star forming in the current week, indicating a reversal.Chart source: StockCharts.com. For educational purposes.

After bottoming from the 2021 COVID crash, COST saw little impact from the pandemic lockdown that followed. In 2022, as inflation began hitting customers’ pocketbooks, COST maintained a narrowing range, which steadily broke to the upside before going parabolic over the last three weeks, breaking resistance at $603 (see magenta line) and soaring into the all-time high territory. The current week shows a Shooting Star candlestick pattern, indicating a bearish reversal.

As bullish as COST’s prospects might be, it’s due for a pullback. And now it’s a matter of anticipating where COST might bounce. Let’s look at a daily chart (see below).

CHART 2: DAILY CHART OF COSTCO STOCK. Notice the scaffolding of several potential support levels. What’s tricky is that market sentiment may be more fundamentally biased, possibly resulting in a quick touch-and-go scenario even at the slightest retracement.Chart source: StockCharts.com. For educational purposes.

Last Monday’s candle saw COST hit an all-time high of 681.91, followed by an inside day. As the RSI reading indicates, it’s well within overbought territory.

Today’s session is threatening to take out Monday’s low of 661.10, and this would be the pullback bulls looking to make a sharper tactical entry might be looking for.

A break below 661.10 would find the first level of support at 627.20, which is a 38.2% Fibonacci retracement level drawn from the November low to the most recent high. The 50% Fib retracement level at 610.30 will likely serve as another support area. Both constitute potential long entry opportunities.

But perhaps the strongest level of support will cluster around the range of 590 and 600 as it marks a convergence of three potential support levels—the previous all-time high of 603, which is now resistance-turned-support, the 61.8% Fib retracement level at roughly 593, and the rising 50-day SMA which should soon reach 590.

Buying a stock that has gone parabolic typically seems like a risky endeavor, as the market’s gravity tends to strike heavily on exceedingly sharp ascents. However, the strength of COST’s fundamentals may be enough to propel the stock higher once it takes a breather and settles into more reasonable, yet still impressive, valuations. If you’re looking to enter a long position between COST’s 50% and 38.2% FIb retracement levels, 590 may serve as a final stop-loss point as it sits right above the stronger support cluster.

That may seem like a wide stop loss, but, if you are bullish, your choice entry leaves you with a bit of a dilemma, as an early entry, which may be the smart way to go, means you have to assume greater market risk, while waiting for an ideal entry at the lower price ranges risks missing the entire trade should COST continue to move higher after a modest pullback.

Set a Technical Price Alert

Setting a technical alert at these Fib levels would be helpful as you weigh your potential entry points against any market developments that may influence your decision.

To access the Technical Alert Workbench, follow these steps:

Log in to your account.At the top of any page, click on “Your Dashboard”.From Your Dashboard, click the Alerts button or the “New” button in the Your Alerts panel.In the Alerts workbench, choose which type of alert you want to create from the “Alert Type” buttons at the top left. To create a price alert, select “Price Alert” as the alert type.Add COST in the symbol box and set your price trigger.Choose how you wish to be notified and then click the Save Alert button.

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.

Social Security recipients and others on fixed incomes will soon see a slight increase in their monthly benefit checks from the U.S. government.

Starting in January, the estimated average monthly retirement benefit will increase by 3.2%, or $59 a month, for 2024 — from $1,848 to $1,907.

The new amounts, the result of the agency’s annual cost-of-living adjustment (COLA), will kick in next month on a staggered, weekly basis, according to when a recipient’s birthday occurs.

The latest COLA increase pales in comparison to the 8.7% increase recipients saw for 2023. That’s because inflation has been falling over the past several months. The annual COLA is calculated based on inflation readings for July, August and September. In those months, the relevant measure of 12-month inflation clocked in at 2.6%, 3.4% and 3.5%, respectively.

Yet despite the more recent slowdown of price increases, many Americans on fixed incomes, especially seniors, will continue to struggle financially even as inflation slows into 2024, experts and economists say.

Since mid-2020, average prices in the U.S. have climbed more than 20%. Yet, the total Social Security cost-of-living adjustment has increased just 17.8% over the same period.

‘There is some very sticky inflation,’ said Mary Johnson, Social Security and Medicare policy analyst for the Senior Citizens League, a nonpartisan advocacy group.

Seniors are especially vulnerable to the rising cost of housing, with the average older person spending 49% of their household budget on shelter, Johnson said. Even as other categories of inflation have slowed or even reversed in recent months, shelter costs have continued to trend upward. In September, a key measure of shelter costs increased by 0.6%, the largest rise since February, after a 0.4% gain in August.

Mark Zandi, chief economist at Moody’s Analytics, said that while many higher-income seniors have likely weathered the recent inflationary period, many low- and middle-income seniors — especially those on fixed incomes — have not.

‘It’s been a really tough three or four years, and that continues,’ Zandi said of those cohorts.

Next year’s Medicare Part B premium adjustments will further erode savings from those monthly Social Security checks. Following a rare year in which the premium was reduced, the standard monthly Part B rate will increase by about $10 to $174.70.

The formula for setting the annual COLA increase was established some five decades ago. The Senior Citizens League has said that, over time, spending categories that more directly impact seniors, especially health care costs, have increased at a faster rate than others.

The league has calculated that, as a result, Social Security benefits have lost more than 30% of their purchasing power since 2000.

Government economists have created — but not implemented — an alternative index, called the Consumer Price Index for the Elderly (CPI-E), which puts greater weight on senior-focused categories. Currently, there is no active congressional legislation pushing a switch to CPI-E.

The Senior Citizens League nevertheless estimates that a senior who filed for Social Security with average benefits over 30 years ago would have received nearly $14,000 more in retirement if the CPI-E had been used.

However, the CPI-E has slightly trailed standard measures of inflation since the pandemic, climbing 18.4% since mid-2020 — meaning the cost-of-living adjustments seen in recent years would have been slightly smaller.

Still, Johnson and the league say many seniors remain vulnerable, especially since they are less likely to be able to take on additional work to boost income.

“Housing, motor vehicle insurance, the cost of hospitals and care of [disabled persons] at home — these are the savings-draining black holes even when inflation is low,” Johnson wrote in a recent Senior Citizens League report.

“Yet these are the very categories seeing the most persistent and painful inflation right now.’

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The Israeli Defense Forces (IDF) is pushing back against reports concerning two Christian women killed during fighting within the area of Gaza’s only Catholic Church over the weekend.  

The Latin Patriarchate of Jerusalem claimed in a press release Saturday an IDF sniper murdered two Christian women inside the Holy Family Parish in Gaza, where the majority of Christian families have taken refuge since the start of Israel’s war with Hamas. 

Latin Patriarch of Jerusalem Pierbattista Pizzaballa wrote in a report, later republished by the Holy See, that a woman named Nahida Khalil Anton and her daughter, Samar Kamal Anton, were ‘shot and killed as they walked to the Sisters’ Convent.’ 

‘One was killed as she tried to carry the other to safety,’ said Pizzaballa, who is also a Catholic cardinal. Seven more people were shot and wounded as they tried to protect others inside the church compound.

Pizzaballa wrote that a rocket fired from an IDF tank targeted the convent and destroyed the building’s generator. Two more rockets, fired by an IDF tank, he said, targeted the same convent, rendering the home uninhabitable and displacing the 54 disabled people. 

The IDF says reports on these incidents do match the conclusion of an initial review that found the IDF troopers were targeting Hamas spotters in enemy lookouts. It said this incident occurred ‘in the area where the two women were reportedly killed.’ 

Following the reports of two women that were shot in the area of the Latin Church in Shejaya, the IDF has finished conducting an initial review of the incident. The review found that on December 17th, in the early afternoon, Hamas terrorists launched a Rocket Propelled Grenade (RPG) at IDF troops from the vicinity of the church,’ the IDF said.

 ‘The troops then identified three people in the vicinity, operating as spotters for Hamas by guiding their attacks in the direction of the IDF troopers. In response, our troops fired towards the spotters and hits were identified.’ 

The IDF said it ‘takes claims of strikes on sensitive sites very seriously, especially churches that are holy sites for the Christian faith.’

‘The IDF directs its operations against the Hamas terrorist organization and not against civilians, regardless of their religious affiliation. The IDF takes many measures to mitigate harm to civilians in the Gaza Strip.’

The statement concluded, ‘These efforts stand in contrast to Hamas, (which) does everything in its power to endanger civilians and exploits them, as well as religious sites, as human shields for their terrorist activities.’

The parish compound is home to the Missionaries of Charity, an order of female religious members founded by Mother Theresa dedicated to serving the sick and disabled. 

Fox News’ Timothy H.J. Nerozzi contributed to this report.

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National Security Council spokesman John Kirby said at a White House press briefing Tuesday that ships and aircraft of several nations will join the U.S. in conducting surveillance and taking defensive action against Houthi rebels who target commercial ships in the Red Sea, in what is being called, ‘Operation Prosperity Guardian.’

Kirby told reporters during a press briefing that the Department of Defense announced the operation on Monday, calling it an international coalition of countries aimed at countering threats from the Iran-backed Houthis.

‘From the beginning, we’ve said that this is an [initiative] that requires collective and international action, and we’ve been able to bring together, now, a number of partners including the United Kingdom, Bahrain, Canada, France, Italy, the Netherlands, Norway, Seychelles, Spain, and even more to address this challenge together,’ he said.

Kirby also said the U.S. and others – including 44 signatories including NATO, the entire European Union and G7 – condemning ‘in the strongest terms’ the threats and acts by Houthis.

He explained that there are six countries that border the Red Sea, which is a conduit for 10-15% of all global trade, 8% of global grain trade and 12% of global seaborne oil trade.

Of the total trade that flows through the Red Sea, Greek-, Chinese-, Japanese- and German-owned vessels make up about 40-50% of the transits, the spokesperson said.

‘These attacks have to stop. They need to stop. They’re unacceptable,’ Kirby said. ‘The United States, our Allies and our partners will do what we have to do to counter these threats and to protect these ships.’

Kirby added that a review is being conducted on whether to re-designate the Houthis as a terrorist organization, though no decision has been made, nor is a timeline available on when a decision will be made.

The Pentagon announced the establishment of Operation Prosperity Guardian earlier in the day, with U.S. Defense Secretary Lloyd Austin calling the initiative, ‘an important multinational security initiative under the umbrella of the Combined Maritime Forces and the leadership of its Task Force 153, which focuses on security in the Red Sea.’

The seriousness of the attacks, several of which have damaged vessels, has led multiple shipping companies to order their ships to hold in place and not enter the Bab el-Mandeb Strait until the security situation can be addressed. The U.S. Central Command reported two more attacks on commercial vessels on Monday. A strike by an attack drone and a ballistic missile hit a tanker off Yemen at roughly the same time a cargo ship reported an explosive detonating in the water near them, the U.S. military said.

Austin said the recent Houthi aggression ‘threatens the free flow of commerce, endangers innocent mariners, and violates international law.’

The U.S. is still actively seeking member countries to join the mission and increase the number of navies present and participating. 

Two U.S. Navy destroyers — USS Carney and USS Mason — are currently moving through the Bab el-Mandeb Strait to help deter and respond to attacks from the Houthis. The move to set up the expanded operation came after three commercial vessels were struck by missiles fired by Iranian-backed Houthis in Yemen on Dec. 3. 

To date, the U.S. has not struck back at the Houthis operating in Yemen or targeted any of the militants’ weapons or other sites. On Monday, Austin did not answer a question as to why the Pentagon had not conducted a counterstrike.

Fox News Digital’s Danielle Wallace contributed to this report.

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Yemen’s Iran-backed Houthi rebels have increasingly become a threat to commercial global shipping and the region in which they operate as they continue to launch attacks in the Red Sea. 

The Houthis have escalated their attacks against vessels in or near the Bab el-Mandeb Strait and have stated their support of Hamas, which is currently engaged in a war with Israel. 

The group has somewhat inserted itself into the war by firing drones and missiles at Israel, resulting in fears that the fighting could escalate into a regional conflict.  

The attacks have prompted shipping and oil companies to suspend transit through the maritime route where the Houthis initiated attacks on commercial ships. 

WHO ARE THE HOUTHIS?

The Houthis seized Yemen’s capital, Sanaa, in 2014, launching a years-long, bloody war. The conflict soon became a proxy war between Saudi Arabia, which backed the Yemeni government in exile, and Iran, which backed the rebels. 

The war caused a major humanitarian crisis that resulted in widespread hunger and misery in Yemen, the poorest country in the Arab world. The war has killed more than 150,000 people, including fighters and civilians, and created one of the world’s worst humanitarian disasters, killing tens of thousands more.

A ceasefire that technically ended a year ago has largely been honored. The Houthis currently control most of Yemen. 

The group traces its history to a religious revival movement for the Zaydi sect of Shi’ite Islam in the late 1990s. The sect had once ruled Yemen for centuries but was marginalized under the Sunni regime that came to power after a 1962 civil war.

As friction with the government grew, a series of guerrilla wars with the national army were fought, as well as a brief border conflict with Sunni powerhouse Saudi Arabia, according to Reuters. 

Following a year of relative calm in Yemen, the Houthis have launched a number of missiles and drones. On Oct. 31, they attacked Israel, saying at the time that there would be more ‘to help the Palestinians to victory.’

The Houthis have sporadically targeted ships in the region over time, but the attacks have increased since the start of the war between Israel and Hamas and spiked after an explosion on Oct. 17 at a hospital in Gaza killed and injured many. Houthi leaders have insisted Israel is their target.

Saudi Arabia has accused Iran of training, arming and funding the Houthis, which Tehran denies.  

SHIP ATTACKS

The Houthis have sporadically targeted a number of ships in the Red Sea region. The attacks have increased with regularity since the start of the war between Israel and Hamas. 

After the weekend attacks, Houthi military spokesman Brig. Gen. Yahya Saree said the group wants to ‘prevent Israeli ships from navigating the Red Sea (and Gulf of Aden) until the Israeli aggression against our steadfast brothers in the Gaza Strip stops.’

On Monday, Secretary of Defense Lloyd Austin announced Operation Prosperity Guardian, a new international mission working to counter attacks by the Houthis on commercial vessels in the Red Sea. 

‘This is an international challenge that demands collective action,’ Austin said. ‘Operation Prosperity Guardian is bringing together multiple countries to include the United Kingdom, Bahrain, Canada, France, Italy, Netherlands, Norway, Seychelles and Spain, to jointly address security challenges in the southern Red Sea and the Gulf of Aden, with the goal of ensuring freedom of navigation for all countries and bolstering regional security and prosperity.’

On Sunday, the Unity Explorer, the Number 9 and the Sophie II, all bulk carriers, were struck in a flurry of attacks. 

Throughout that day, the USS Carney, a Navy destroyer, shot down three drones headed toward the ship and also went to the aid of the commercial vessels. On Wednesday, the USS Mason shot down a drone heading in its direction.

In a statement, U.S. Central Command said, ‘We cannot assess at this time whether the Carney was a target’ of the drones.

ESCALATION?

The Biden administration has talked persistently about the need to avoid escalating the Israel-Hamas war into a broader regional conflict. So far, strikes on the Iranian-backed groups in Iraq and Syria have not broadened the conflict, said Maj. Gen. Pat Ryder, Pentagon press secretary.

So it’s not clear if targeted strikes against Houthi weapons depots or similar sites — which also have Iranian support — would cross a line and trigger a wider war.

‘We will continue to consult with international allies and partners on an appropriate way to protect commercial shipping going through that region, and at the same time ensuring we do what we need to do to protect our forces,’ said Ryder.

The Associated Press contributed to this report. 

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