Archive

2023

Browsing

Congressional Democrats are pushing the federal government to make it easier for LGBTQ federal workers to access fertility treatments.

More than 30 House Democrats, plus Sen. Tammy Duckworth, D-Ill., wrote a letter to the Office of Personnel Management claiming the definition of ‘infertility’ in existing government employee health plans was ‘outdated and lacks inclusivity.’

‘By adopting an inclusive definition that recognizes the full spectrum of reproductive needs and removing unnecessary barriers to coverage, we can ensure that all federal employees, regardless of their sexual orientation, gender identity, or marital status, have access to the comprehensive reproductive health care they deserve,’ the lawmakers said. 

HOSPITAL INSIDER WARNS TRANS KIDS ON HORMONES FREQUENTING ER FOR HARMING THEMSELVES IN CRY FOR HELP 

The letter is also led by Rep. Gerry Connolly, D-Va., and Congressional Progressive Caucus Chair Pramila Jayapal, D-Wash., among others.

Meanwhile, Democrats have been attacking their GOP counterparts in Congress for passing bills they claim infringe on the LGBTQ community’s rights. 

Just last month, House Republicans added amendments to the annual National Defense Authorization Act that would stop military health care from covering surgeries and hormone treatments for transgender troops. Both sides of the aisle have also butted heads over taxpayer dollars being given to LGBTQ organizations.

‘We would like to highlight two specific concerns with the current definition of infertility used by OPM,’ the letter states. ‘First, the requirement of six cycles of Artificial Insemination or Intrauterine Insemination performed by a qualified specialist using normal quality donor sperm, while excluding other assisted reproductive technologies, is both arbitrary and unnecessarily restrictive.

‘The number of cycles required in the definition does not take into account an infertility diagnosis that may occur when a patient is evaluated, leading to inconsistent and unequal coverage for individuals seeking alternative methods of conception. Furthermore, this policy creates unnecessary barriers and costs for LGBTQ people by excluding consideration of at-home inseminations.’

The second concern, they said, was that ‘the definition fails to account for same-sex couples and single individuals.’

‘By limiting coverage to these individuals only after six cycles of insemination with donor sperm, we are effectively denying them access to necessary fertility treatments, placing an undue burden on their path to parenthood,’ the letter said. 

Fertility treatments like intrauterine insemination and in vitro fertilization typically cost thousands of dollars out of pocket and are not always covered by health insurance policies. 

As of June 2023, just 21 states have laws requiring insurance companies to provide some kind of fertility treatment, according to RESOLVE: The National Infertility Association.

This post appeared first on FOX NEWS

President Biden has taken fire this week for reportedly using aliases and ‘secret’ email addresses as vice president in messages to his son Hunter Biden, who had business in Ukraine at the time. Under former President Barack Obama’s administration, White House officials defended the use of alternate email addresses.

During a 2013 press briefing, the Obama-Biden White House, amid accusations that individuals within the administration had been using ‘secret’ email addresses for correspondence, highlighted its belief that using ‘alternate email addresses’ for high-ranking officials made ’eminent sense.’

While fielding questions from reporters at the briefing, Jay Carney, White House press secretary at the time, was asked about a story from The Associated Press that claimed a variety of senior administration officials possessed secret email addresses.

Additionally, Carney was asked by the same reporter what the protocol would be for the administration to release that correspondence via a Freedom of Information Act (FOIA) request, and whether the contents from both email addresses — or just the public one or the ‘secret’ one — would be released should there be a congressional inquiry about a given subject.

‘Let’s be clear — this is a practice consistent with prior administrations of both parties, and, as the story itself made clear, any FOIA request or congressional inquiry includes a search in all of the email accounts used by any political appointee,’ Carney responded.

‘So the answer is, all of this information is provided. Having alternate email addresses for cabinet secretaries and other high-profile officials makes eminent sense, much as it does for columnists, for example, of major publications who provide email addresses for their readers but have alternate work email addresses so that if they are inundated in one account with either public emails or spam or the like, that they can continue to use their other account for normal work,’ he added. 

‘And that is the case with officials of this administration, officials of the previous administrations who have had email addresses.

‘And the fundamental question here, in terms of FOIA requests and congressional inquiries, is that all of these email addresses are included.’

The decade-old acknowledgment by the Obama-Biden White House comes into play as Republicans in the House continue to investigate Biden’s involvement with his family’s overseas business dealings and request certain email communications he had during his time as vice president.

House Oversight Committee Chairman James Comer, R-Ky., sent a letter to the National Archives Wednesday requesting unredacted emails from President Biden’s tenure as vice president, when Biden allegedly used a handful of pseudonyms to correspond with others.

Specifically, Comer is looking to review unredacted versions of emails released by the National Archives under ‘Case Number 2023-0022-F,’ titled on the agency’s website as ‘Email Messages To and/or From Vice President Biden and Hunter Biden related to Burisma and Ukraine.’

In the letter to archivist Colleen Shogan, Comer made a request for any ‘document or communication in which a pseudonym for Vice President Joe Biden was included either as a sender, recipient, copied or was included in the contents of the document or communication, including but not limited to Robert Peters, Robin Ware, and JRB Ware.’

Comer also seeks any ‘document or communication in which Hunter Biden, Eric Schwerin, or Devon Archer was included either as a sender, recipient, copied, or was included in the contents of the document or communication’ and all ‘drafts from November 1, 2015, to December 9, 2015, of then-Vice President Biden’s speech delivered to the Ukrainian Rada on December 9, 2015.’

‘Joe Biden has stated there was ‘an absolute wall’ between his family’s foreign business schemes and his duties as vice president, but evidence reveals that access was wide open for his family’s influence peddling,’ Comer said in a statement. 

‘We already have evidence of then-Vice President Biden speaking, dining and having coffee with his son’s foreign business associates,’ he added. ‘We also know that Hunter Biden and his associates were informed of then-Vice President Biden’s official government duties in countries where they had a financial interest. The National Archives must provide these unredacted records to further our investigation into the Biden family’s corruption.’

A 2021 report from the New York Post noted that Biden used the pseudonyms ‘Robin Ware,’ ‘Robert L. Peters’ and ‘JRB ware’ on e-mails that ‘mixed official and family business.’

Previous emails released by the agency showed that Biden used the email address ‘Robert.L.Peters@pci.gov’ during his time as vice president and that his aide, John Flynn, copied Hunter Biden on 10 emails containing the elder Biden’s daily schedule between May 18 and June 15, 2016, according to the Post.

FBI records made public in September 2016 revealed Obama also used a pseudonym in email correspondence with former Secretary of State Hillary Clinton and others, according to Politico.

This post appeared first on FOX NEWS

Rep. Jared Golden, D-Maine, unloaded on ‘radical left elitists’ as he defended his vote against President Biden’s student loan forgiveness plan. 

Golden’s leadership as co-chair of the moderate House Democratic Blue Dog Coalition was spotlighted by the Maine Beacon Friday after financial disclosures showed the group got a donation from student loan servicing giant Sallie Mae about two weeks after he voted against Biden’s plan. 

He was one of just two Democrats to do so in the lower chamber. 

‘Sadly, this is what radical leftist elites are learning about ‘democracy’ these days — silence and destroy anyone who disagrees with your views or goals. I stand by my vote and my opposition to forking out $10,000 to people who freely chose to attend college,’ Golden said in a statement posted to X, formerly Twitter.

He did not directly address the Maine Beacon or Sallie Mae’s donation, though he linked the relevant article in his post. Golden dismissed the scrutiny as a product of social media outrage. 

‘The Twitterati can keep bemoaning their privileged status and demanding handouts all they want, but as far as I’m concerned, if they want free money for college, they can join the Marines and serve the country like I, and so many others, have in the past, and many more will in the future,’ Golden said.

‘If they want a career and hard skills without college debt, they should join a union and enter an apprenticeship. But if they choose to attend college, they can pay back their loans just like working class people pay back home mortgages, car loans, and many other expenses that people choose to take out loans for.’

A House Republican-led bill aimed at repealing Biden’s student loan proposal, which has since been struck down by the Supreme Court, passed the House nearly along party lines in May. 

Golden and his fellow Blue Dog co-chair, Rep. Marie Gluesenkamp-Perez, D-Wash., were the only Democrats who voted with the GOP to pass it. The measure also passed the Senate with some Democratic support but was eventually vetoed by the president.

On June 14, the Blue Dog Coalition received a $5,000 donation from Sallie Mae, according to public financial disclosures. It’s the maximum amount allowed under current law. 

Biden has pledged his administration would pursue alternative pathways aimed at student debt forgiveness.

This post appeared first on FOX NEWS

A Biden administration crackdown has reportedly resulted in hundreds of gun dealers losing their licenses which has sparked anger and the belief by the dealers that they are being targeted.

During the last fiscal year that started in October, 122 gun dealers had their licenses revoked by the Bureau of Alcohol, Tobacco, Firearms and Explosives which is up from 90 the year before and 27 in 2021, Wall Street Journal reported.

During the Trump and Obama presidencies, the number of licenses revoked never exceeded 81. 

Some in the gun industry are crying foul and suggesting that they are being unfairly targeted for political reasons over paperwork errors as part of an agenda to combat gun violence which President Biden has vocally pushed.

‘We were making $1 million a year, now it’s less than $100,000,’ Anthony Navarro, a gun dealer who lost his license last year after receiving three warnings for legal violations since 2009, told Wall Street Journal. ‘This policy is designed to be a backdoor violation of the Second Amendment.’ 

Navarro said he was issued warnings over mistakes gun purchasers made on paperwork but that they weren’t prohibited from buying guns.

Others have pointed out that gun dealers are typically strong allies of the federal government in terms of providing tips on suspicious gun buyers and that the working relationship could be harmed by the crackdown. 

‘The gun dealers were our first line of defense against gun trafficking,’ Peter Forcelli, a retired deputy assistant director, told Wall Street Journal. ‘Why are we now beating an ally into submission?’

In a statement to Fox News Digital, the ATF said it is following the law. 

‘Federal Firearms Licensees are often our first line of defense against gun crime and are often a source of critical enforcement information that helps law enforcement identify straw purchasers and disrupt firearms trafficking schemes,’ ATF Spokesperson Kristina Mastropasqua said. ‘FFLs that willfully violate the law, however, must be held accountable. ATF conducts inspections to ensure compliance with applicable local, state, and federal laws and regulations and to educate licensees on the specific requirements of those laws and regulations.’

The White House did not immediately respond to a request for comment from Fox News Digital. 

This post appeared first on FOX NEWS

A Hawaiian company says that its efforts to divert water to fight a devastating wildfire last week were delayed for hours while a government agency, led by a man who has pushed for ‘water equity,’ consulted with local farmers. 

The West Maui Land Company, which manages several agricultural and residential subdivisions along with water jurisdictions, says that it requested water the day of the catastrophic wildfire in Maui from the Commission On Water Resource Management but was initially denied for several hours.

The company alleges the reason for that delay was that the commission had to clear the move with local farmers. By the time the request was granted, several hours later, the company says it was too late. 

‘We followed the process. The process failed us,’ Glenn Tremble, an executive with West Maui Land Co., told Hawaii Public Radio in an emailed statement. 

In an Aug. 10 letter to CWRM deputy director M. Kaleo Manuel, the company said, ‘No one is happy there was water in the streams while our homes, our businesses, our lands, and our lives were reduced to ash.’ 

Manuel has been quoted as calling for more ‘water equity’ on the island in the past. While no allegation has been made by the company or the government that ‘water equity’ was connected to the delay, many have criticized Manuel over his comments that resurfaced on social media.

‘My motto has always been: let water connect us, not divide us,’ Manuel says in the clip. ‘We can share it, but it requires true conversations about equity.’

‘Evolving from a land use focus, over the past 10 years, Kaleo has focused on bringing planning and indigenous knowledge to the fields of water advocacy and management in Hawai‘i,’ the state’s website says about Manuel. 

In a press release, the Hawaii Department of Land and Natural Resources announced that Manuel has since been reassigned. 

‘DLNR is re-deploying First Deputy of the Commission on Water Resource Management (CWRM), Kaleo Manuel, to a different DLNR division,’ the press release said. ‘The purpose of this deployment is to permit CWRM and the Department to focus on the necessary work to assist the people of Maui recover from the devastation of wildfires.’

‘This deployment does not suggest that First Deputy Manuel did anything wrong. DLNR encourages the media and the public to avoid making judgments until all the facts are known.’

At least 110 people were killed in the August 8 wildfire in Lahaina, Maui and that death toll is expected to rise which has led to finger pointing at what went wrong including why fire crews ran out of water and found countless dry hydrants. 

‘One thing that people need to understand especially those from far away is that there’s been a great deal of water conflict on Maui for many years,’ Hawaii Governor Josh Green said in a press conference. ‘It’s important that we’re honest about this. People have been fighting against the release of water to fight fires. I’ll leave that to you to explore.’

‘We have a difficult time on Maui and other rural areas getting enough water for houses, for our people, for any response,’ Green said. ‘But it’s important we start being honest. There are currently people still fighting in our state giving us water access to fight and prepare for fires even as more storms arise.’

The Department of Land and Natural Resources declined to comment. 

‘I’d like to see this broader issue discussed at another time,’ Tremble told Fox News Digital on Friday afternoon. 

‘Right now isn’t the time for him to point fingers.’

This post appeared first on FOX NEWS

James Buckley, a former U.S. senator from New York and judge on the U.S. Appeals Court for the District of Columbia Circuit, died Friday at 100 years old.

Buckley, the older brother of National Review founder William F. Buckley Jr., is one of the few people to have served in the executive, legislative and judicial branches of the Federal government.

The former judge died at a hospital in Washington, D.C., according to his son, David Buckley, of Arlington, Virginia.

Buckley was born on March 9, 1923. He went to the Millbrook School in New York and then on to Yale, where he majored in English. He served in the Navy and fought in the Far East during World War II. Later, he went to Yale Law School and became a corporate lawyer. 

In 1953, Jim Buckley married Ann Frances Coole, who died in 2011.

His illustrious political career began when he managed his brother’s mayoral campaign in 1965.

He went on to become senator in 1970 as part of the Conservative Party of New York.

Buckley is famous for challenging campaign finance laws in the wake of a post-Watergate world in the landmark Supreme Court case Buckley v. Valeo. 

In March 1974, Buckley shocked Republicans by calling on President Richard Nixon to resign and to pull the nation ‘out of the Watergate swamp’ and save the office of the presidency.

Buckley lost his senate seat in a reelection campaign to Democrat Daniel Patrick Moynihan in 1976, the same year he officially switched to the Republican Party. 

He later served in the Reagan administration as an undersecretary for security assistance in the U.S. Department of State and was later nominated by Reagan to a position as a judge on the U.S. Court of Appeals for the District of Columbia Circuit.

The Associated Press contributed to this report.

This post appeared first on FOX NEWS

On Thursday, August 17th, I sat down with Maggie Lake and Real Vision. During the 36-minute interview, the overriding theme continues to be one of “Stagflation”.

Here are the main points:

Rates: We don’t really know yet the impact of the rapid rate rise.Inflation: Wave 3 is here. Wages are a part of that. Next wave would be more based on some level of devastation.Risks lurking underneath the market: How we look at risk on/off factors.Gold prices vs. Long Bonds and SPY: Will that flip to risk-off?July 6-month calendar ranges: What is holding, below and above. (Hint: IWM chart above.)The Dollar: how much of an impact?Where are commodities now and where they might go? (Hint: Gold chart below.)Picks and pans: Where we are focused.China: How long until bad news becomes good news?

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

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.

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

Get your copy of Plant Your Money Tree: A Guide to Growing Your Wealth and a special bonus here.

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

On the Friday, August 18 edition of StockCharts TV’s Your Daily Five, Mish covers bonds, the dollar, risk-off indications and several key commodities with actionable levels to consider.

Mish joins Maggie Lake of Real Vision to discuss what rising bond yields mean for investors across the market landscape, what comes next for stocks and commodities, and why she is taking profits here in the growth and AI stocks.

Mish shows why January and now the July reset worked in this appearance on Business First AM.

Mish discusses Alibaba’s stock price in this appearance on CNBC Asia.

In this guest appearance on David Keller’s The Final Bar on StockCharts TV, talks higher rates and why China may deserve a second look for investors.

Mish discusses inflation, bonds, calendar ranges and places to park your money on the Benzinga Morning Prep show.

Mish covers why August is a good time for caution in this appearance on Business First AM.

Mish and Jared go over oil and what might happen with small caps and regional banks in this appearance on Yahoo! Finance.

Coming Up:

August 21: TD Ameritrade

August 28: Chuck Jaffe, Money Show

September 7: Singapore Breakfast Radio, 89.3 FM

October 29-31: The Money Show

ETF Summary

S&P 500 (SPY): 437 is the July 6-month calendar range low, will look for a return above or a trip to 420.Russell 2000 (IWM): 181.94 the low of the week is key; 180.72 the 6-momth calendar range low.Dow (DIA): Relative strength here-a return over 346 positive.Nasdaq (QQQ): 363 the July 6 month CRL, BUT held a key weekly MA at 357.Regional Banks (KRE): Outperformer, as all this did was fall to the July range high at 44.40.Semiconductors (SMH): 145 a weekly MA support level with 150 key resistance.Transportation (IYT): Landed on the July 6-month calendar range low. If holds, a positive.Biotechnology (IBB): Compression between 123-130.Retail (XRT): 62.80 the July 6-month calendar range low; this held the 200-DMA as well.

Mish Schneider

MarketGauge.com

Director of Trading Research and Education

In this episode of StockCharts TV‘s The MEM Edge, Mary Ellen reviews what’s driving these markets lower, as well as key areas of support. She also shared best practices for putting your watchlist together so you can participate in the market’s new uptrend.

This video originally premiered August 18, 2023. Click on the above image to watch on our dedicated MEM Edge page on StockCharts TV, or click this link to watch on YouTube.

New episodes of The MEM Edge premiere weekly on Fridays. You can view all previously recorded episodes at this link. You can also receive a 4-week free trial of her MEM Edge Report by clicking the image below.

This week’s stock market activity gave us an unpleasant reminder of how equities can turn on a dime. The possibility of further interest rate hikes from the Federal Reserve and China’s economic woes were the main reasons for the sharp selloff we saw after the S&P 500 index ($SPX) broke below its 50-day moving average.

CHART 1: DAILY CHART OF S&P 500 INDEX. After falling below its 50-day moving average, $SPX has been in free fall. It remains to be seen if today’s rebound will reverse the trend.Chart source: StockCharts.com (click chart for live version). For educational purposes.The US Dollar ($USD) and volatility ($VIX) have shown signs of life after a relatively long hibernation. VIX went as high as its 200-day moving average before retreating.

The ripple effects were felt in Asian and European markets. Evergrande’s filing for bankruptcy protection in the US hurt China’s real estate sector. According to a Barron’s report, the real estate industry makes up about 30% of China’s GDP. Another real estate company, Country Garden Holdings, will no longer be listed on the Hang Seng Index after it showed signs of distress—losses and missed payments.

And it’s not just the real estate sector feeling the pain. Stocks like Alibaba (BABA), JD.com (JD), and Baidu (BIDU) all slumped.

US Feels the Side Effects

The weakness in China’s technology stocks spilled over into the US stock market. The Technology and Communication Services sectors were hit pretty hard this week, although Tech ended up being the best-performing sector from a weekly perspective. The weekly chart of the Technology Select Sector SPDR (XLK) below shows three straight lower weeks. The 20-week moving average could be a support level for XLK.

CHART 2: TECHNOLOGY SELECT SECTOR SPDR (XLK) FALLS FOR THREE STRAIGHT WEEKS. Will XLK bounce off its 20-week moving average or will the ETF’s value decline further? It all depends on investor expectations next week. Chart source: StockCharts.com (click on chart for live version). For educational purposes.

The Magnificent Seven Stocks—Tesla (TSLA), Apple (AAPL), Amazon (AMZN), NVIDIA (NVDA), Microsoft (MSFT), Alphabet (GOOGL), and Meta (META)—may be losing their status symbol. They are all lower for the week.

It almost seems like yesterday when these seven stocks propelled the S&P 500 to its 52-week highs. Investors were looking for the index to reach its October 2022 all-time high. That’s the reality—anything can happen in the market when you least expect it.

On the flip side, energy stocks are on the rise. The Energy Select Sector SPDR (XLE) is bouncing off its 20-day simple moving average. XLE has a high StockCharts Technical Rank (SCTR) score, and its relative strength against the S&P 500 index is trending higher.

Things Ain’t Great in Cryptoland Either

Did Elon Musk’s decision to sell Bitcoin ($BTC) spur the massive selloff? It may have something to do with it, but since Bitcoin’s price took a hard hit, there may be other reasons for the selloff in the crypto market. Looking at the chart of $BTCUSD, it looks like price may stay within the $25,000–$30,000 range, but if price falls below $25,000, it could go as low as $20,000, its next support level.

CHART 3: BITCOIN GETS CRUSHED AND APPROACHES SUPPORT LEVEL. After a massive price fall, Bitcoin could stay within a trading range between $25000 and $30,000. A break below $25,000 could be bearish, bringing Bitcoin’s value to $20,000. Chart source: StockCharts.com (click chart for live version). For educational purposes.

The Perfect Storm

US Treasury yields trending higher, the possibility of further interest rate hikes by the Fed, China’s economic troubles, and Bitcoin’s selloff—it’s enough to chew on before the market opens on Monday. After a rough week, seeing if buyers will enter the stage next week is worth watching. After what seemed as though it could be a horrifying end to the trading week, the major indexes closed well off their lows, and started moving higher during the last 15 minutes of the trading day. The return of the buyers could be a bullish sign at the end of a pretty grim trading week. The rebound off the lows suggests that the optimism could bring a little zip on Monday.

There’s not much in economic data next week that investors are anxiously awaiting. So be sure to watch any support levels carefully and determine if there’s enough momentum to make it worth buying the dip. It may also be worth putting the market aside for a couple days. Monday could bring surprises.

End of Week Wrap Up

US equity indexes mixed; volatility down

$SPX down 0.01% at 4370.03, $INDU up 0.08% at 34501.88; $COMPQ down 0.2% at 13290.78$VIX down 3.52% at 17.26Best performing sector for the week: TechnologyWorst performing sector for the week: Consumer DiscretionaryTop 5 Large Cap SCTR stocks: Super Micro Computer (SMCI); Celsius Holdings (CELH); NVIDIA (NVDA); Eli Lilly (LLY); XP Inc. (XP)

On the Radar Next Week

July existing home salesJuly new home salesJuly Durable Goods OrdersFed speechesJackson Hole symposium kicks off

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.

In this special “all-mailbag” edition of StockCharts TV‘s The Final Bar, Dave answers viewer questions on trailing stop techniques, when to consider over-weighting small cap stocks, using the MACD indicator for market timing, and much more!

This video originally premiered on August 18, 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. You can view all previously recorded episodes at this link.