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Florida Rep. Greg Steube hospitalized after falling off roof: report

Florida Rep. Greg Steube was transported to a hospital Wednesday afternoon after he fell off a roof.

‘Congressman Steube was involved in an accident on his property late this afternoon and has sustained several injuries. We will provide additional updates when possible. Please pray for the Congressman and his family,’ Steube’s team said in a statement on Twitter.

Florida GOP Vice Chair Christian Ziegler shared an update on Steube late Wednesday night.

‘I just heard that even though Congressman @RepGregSteube is still in the hospital, he is doing well. Big relief to hear,’ Ziegler tweeted.

He continued, ‘Our country, state & local community needs him to recover and get back to fighting for us in Congress ASAP.’

According to Florida Politics, which cited local sources, the Republican congressman fell from the roof of his home on Wednesday and was rushed to a local Sarasota, Florida hospital. 

The 44-year-old Representative serves Florida’s 17th congressional district, which contains the outer suburbs of Sarasota and Fort Myers through the Everglades. 

Steube has been a congressman since 2019 and previously served three terms in the Florida House of Representatives, as well as two years in the Florida Senate until 2018.

Sarah Rumpf is a Fox News Digital Production Assistant. You can reach her on Twitter at @rumpfsarahc 

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Politics

Biden admin to launch pilot program to allow Americans to sponsor refugees directly

The Biden administration on Thursday will launch a new pilot program to allow groups of Americans to sponsor refugees directly, two sources confirmed to Fox News Digital.

The State Department program, Welcome Corps, will allow groups of private American citizens to sponsor refugees through the Refugee Resettlement Program if they raise enough money, pass background checks and come up with a plan on how to support them.

Reuters first reported the details of the program, which will require groups of at least five people to raise a minimum of $2,275 per refugee, before passing the checks. 

The outlet also reported that it would aim to find sponsors for 5,000 refugees before the end of the current fiscal year in September. Those details were confirmed to Fox News Digital ahead of an expected announcement on Thursday. The State Department did not immediately respond to a request for comment.

 The State Department had announced its plan for a private sponsorship program in a report to Congress last year and was planning for a launch in late 2022 that was ultimately delayed.

‘The purpose of the program is to increase and deepen the involvement of local communities in effective refugee resettlement, recognizing the significant and impactful role that local community actors have long played in supporting the welcome and integration of refugees admitted to the United States through the [U.S. Refugee Admissions Program.]’ the agency said in the report. ‘The program is intended to complement the Reception and Placement Program by creating new, additional opportunities for individuals and organizations nationwide to be directly engaged in supporting refugee resettlement.’

The department said it is being launched as a pilot to allow the agency to test and evaluate various components of the program, ‘and identify the successful elements of the pilot that will form the basis of an effective, sustainable private sponsorship that becomes a foundational part of U.S. refugee resettlement.’ 

The Biden administration has dramatically reversed the limits on refugee resettlement introduced during the Trump administration. The Trump administration reduced the yearly cap on refugees to 15,000. The Biden administration changed course and increased it to 125,000, but so far refugee resettlements have not come close to meeting that level. 

It has also allowed private individuals to sponsor evacuees from both Afghanistan and Ukraine, as part of a broader commitment to opening legal avenues for migrants and refugees fleeing harm. The administration launched a program last year to bring in 100,000 Ukrainians via a program using humanitarian parole authority after the Russian invasion of Ukraine, but that program does not contribute to the refugee cap.

More recently, the administration announced an expanded humanitarian parole program that allows up to 30,000 Venezuelan, Cuban, Haitian and Nicaraguan migrants to fly into the U.S. if they have a U.S.-based sponsor in response to a surge in migrants at the southern border.

Adam Shaw is a politics reporter for Fox News Digital, primarily covering immigration and border security.

He can be reached at adam.shaw2@fox.com or on Twitter.

This post appeared first on FOX NEWS
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Politics

Utah bill looks to ban gender-affirming surgery for minors

A Utah state lawmaker introduced a that will ban gender-affirming surgeries on minors, according to reports.

Republican Sen. Michael S. Kennedy introduced the bill in December, and on Wednesday it received a favorable recommendation.

The Salt Lake Tribune reported that the bill would prohibit surgeries on minors diagnosed with gender dysphoria, a term that describes when a person senses a mismatch between their gender identity and biological sex.

Earlier in 2022, another bill introduced would have blocked gender-altering surgery and the use of puberty blockers or hormone therapy on minors. But the bill never moved forward and died.

If Utah were to pass the legislation, the Salt Lake Tribune explained, lawyers have warned it too could be challenged.

‘I think the guarantee we absolutely can count on is if we pass this legislation, there will be a lawsuit. The state will be involved in very, very expensive litigation. And I do believe the state will lose,’ Rep. Jennifer Dailey Provost, D-Salt Lake City told the Salt Lake Tribune.

Kennedy did not immediately respond to requests seeking additional information about the bill or why he was seeking to have a ban put in place.

Multiple states have cracked down on various forms of gender transition for minors amid the ongoing debate regarding what has become known as ‘gender-affirming care’ for young people.

More than half of states in the U.S. have either passed or attempted to pass bills restricting access to transgender treatments for minors.

As of November, Arkansas and Alabama are the only two states to have passed legislation issuing a total ban on transgender treatments for minors, although such are presently in legal limbo following court injunctions. Arizona, Tennessee, Texas and Florida have effectively issued partial bans. The restrictions in Texas and Florida did not emerge from legislation.

Provisions in some of the bills that have been passed or introduced include criminalizing medical professionals who provide transgender treatments to minors, punishing parents who help minors obtain such treatments, limiting insurance or Medicaid coverage of the treatments, and allowing damages to be filed against medical providers.

Video

Greg Wehner is a breaking news reporter for Fox News Digital.

This post appeared first on FOX NEWS
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Stocks

2023 Stock Market Forecast: Where’s the Strength?

Uncertain about where the stock market’s headed? You should be, after a tumultuous 2022. Read on to hear what three experts think the 2023 investment landscape will look like. More importantly, get ready to take advantage of new trading and investing opportunities.

Forecasting the stock market is like predicting the weather. You never know what’s going to happen from one moment to the next. The stock market can be a tricky beast, but 2023 could be a big year for investors. Whether you’re a short-term trader or long-term investor, insights from three technical analysts—Mish Schneider, Tom Bowley, and Greg Schnell, CMT—are sure to help you focus on specific areas and get a better idea of what trends to watch out for.

In a recent StockCharts TV special, “Charting Forward: Q1 Market Outlook,” our chief market strategist and host of The Final Bar, David Keller, CMT, picked the brains of the three panelists in a round table discussion to get their thoughts on the market, which areas are likely to outperform, and which areas are likely to underperform. Here’s a glimpse at the different points of view.

CHARTWATCHERS KEY POINTS

Commodities could shine in 2023, especially precious metalsEnergy stocks are forming a base and oil prices could see a bullish rallyEquities are looking bullish and the biggest challenge in 2023 will be growth vs. value stocks

The Commodity Cycle

Mish Schneider, director of trading education at MarketGauge.com, is bullish on commodities. Here’s her outlook.

If you look back to the late 1970s, after a recessionary period, there was a bear market. The stock market then hit a trading range. During this time, commodities started to shine. A similar scenario is likely to play out in 2023.

The S&P 500 index ($SPX) has been between 3200 and 4200 and we’re close to testing the upper region of the range. Given that inflation is a global phenomenon, equities could remain stagnant for a while, which is why commodities are likely to be bullish in 2023. It wouldn’t be surprising to see the U.S. dollar fall further and equities continue to remain flat, with some periods of excitement. But if you want to catch the big trends, don’t lose track of energy, food, and metals.

The 80-month moving average (MA) represents a breakdown of the business cycle, and a lot of growth stocks have broken below their 80-month MA. But if you pull up a chart of commodity exchange-traded funds (ETFs) such as Invesco DB Commodity Index Tracking Fund (DBC), you’ll see the opposite taking place (see chart 1). These ETFs are trading above their 80-month MA.

CHART 1: A POTENTIAL COMMODITY CYCLE COULD BE IN THE WORKS. The Invesco DB Commodity Index fund (DBC) is trading well above its 80-month moving average.Chart source: StockChartsACP. For Illustrative purposes only.One important point about commodities: When they’re beaten down, it could mean buying opportunities. When they look great, you may want to sell them. Commodities have been trading sideways for years. 2023 may be their year.

If gold futures hold $1,900 per ounce, there’s no reason the shiny metal can’t go as high as $3,000 to $3,500 an ounce. Commodities are emotional, countries need them, and so do governments. Now that demand for commodities is growing, it’s possible that oil could lead the charge, and may be the key to ignition. ~Mish Schneider

Bullish on Energy

Greg Schnell, CMT, MFTA, chief technical analyst at Osprey Strategic, is stoked about energy. Here’s why.

With the U.S. dollar breaking down, it could benefit other asset classes. The $SPX is likely to break to the upside, reaching the 4,500 level. And expect copper to be the theme going forward, especially with wind and solar technologies. Note that Copper is considered an economic bellwether and is seeing some upside potential.

When the demand for energy increases, there’s a chance that energy stocks will pop. Pull up a chart of the Energy Select Sector SPDR ETF (XLE) and you’ll see that it could be indicating the start of the next bull leg. If that were to play out, energy won’t get left behind.

A lower U.S. dollar bodes well for a rise in commodities. If you look at a 30-year monthly chart of the CRB index ($CRB) with the percentage price oscillator (PPO), such as in chart 2, you’ll see that the PPO is the highest it’s been. So keep an eye on this indicator and, if PPO turns up and moves higher in the next low, you may want to add commodities-related stocks or ETFs to your portfolio.

CHART 2: COMMODITIES LOOKING STRONG. Look for the PPO to go closer to zero and then turn higher. That could be an indication to invest in commodity stocks or ETFs.Chart source: StockChartsACP. For illustrative purposes only.

We’ve seen energy stock prices go up, but crude oil prices have been at a base of around $75 per barrel, which could be the floor. If you wanted to invest in oil, you’d want to buy it at a low, and there’s a chance crude oil prices could rise from the $75 level. Going back to the 40-period MA, it looks like crude oil prices are pretty close to hitting that MA.

We’re going on a run for the roses here. When crude oil crosses the center line (40-period MA) on the ice rink, oil will go deep into the zone. ~Greg Schnell

Value vs. Growth Stocks

Tom Bowley, chief market strategist of EarningsBeats.com, is pretty bullish going into 2023. Here’s why he thinks $SPX has hit a bottom.

The stock market had gone up so much in 2020 and 2021 that a reversion to the mean was due, which happened in 2022. There’s a lot of accumulation going on, and the biggest challenge in 2023 will be deciding between growth and value stocks. A lot will depend on what the Fed does and where interest rates go from here, but it’s likely $SPX will move higher, maybe to 4,700 or even an all-time high later in the year.

In 2022 there was a shift in the markets in Q4. The Dow Jones Industrial Average ($INDU) was up 17%, while the Invesco QQQ Trust (QQQ) was relatively flat. Large $SPX market cap-weighted stocks struggled, yet the index gained in Q4. This supports the idea that money is rotating into the markets, as well as the possibility of a bull market in equities.

Value stocks are probably going to outperform growth stocks in 2023, although at some point growth stocks will come back. Pull up a chart of IWF:IWD and you’ll see a reversion to the mean (see chart 3). In a low-interest rate environment, growth stocks tend to perform better. You don’t want to be overweight in growth stocks until interest rates start coming down. That’s when investing in S&P 500 companies will make more sense.

Using my fundamental background, if rates start to come down, growth stocks will benefit. Then, from a technical perspective, I wait to see a turn in the charts. Most bull markets will lift all boats. ~Tom Bowley

CHART 3: GROWTH VS. VALUE. Here you see the ratio of growth stocks to value stocks. Growth stocks have been underperforming value stocks in Q4 2022. Will the trend continue into 2023? It could, at least in the early part of 2023. It would also be interesting to see the reaction at the 50-day moving average (blue line).Chart source: StockChartsACP. For illustrative purposes only.

Long-Term Trends and Sentiment Shifts

It goes without saying that analyzing prevailing and long-term trends is the key to getting an idea of what the stock market might look like in the future. But, like the weather, nothing is certain in the markets. So be prepared to consider investing in markets that may not have been on your radar in the past. Keep a close eye on shifting investor sentiment; it can go a long way in determining which assets should be in your portfolio and which ones should leave. Stay tuned for next quarter’s market outlook.

Want to hear more from the three talented technical analysts? Check out the entire conversation in the video below.

Jayanthi Gopalakrishnan

Director, Site Content

StockCharts.com

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.

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Business

Party City files for bankruptcy after struggling with pandemic rebound

Party City filed for Chapter 11 bankruptcy protection on Tuesday, making it the latest casualty in the U.S. retail industry as persistently high inflation takes a toll on consumer spending.

Troubled retailers often seek bankruptcy protection following the holiday season to take advantage of the cash cushion provided by recent sales.

Bed Bath & Beyond raised doubts about its ability to continue as a going concern earlier this month.

Woodcliff Lake, New Jersey-based Party City said it had reached a pre-negotiated agreement with a bondholder group to support an “expedited restructuring” that is expected to be completed in the second quarter.

It reported $1 billion to $10 billion of estimated assets and liabilities, and said it had obtained $150 million in debtor-in-possession financing to support its operations.

The party supplies retailer’s fortunes have dwindled since the Covid-19 pandemic as it wrestled with slowing sales due to lockdowns and store closures, along with inventory shortages and tight supplies of helium due to global supply chain disruptions.

The company, which operates more than 800 company-owned and franchise stores throughout North America, also battled higher freight, labor and raw materials costs as it pulled forward shipping timelines to ensure enough products on its shelves.

Its subsidiaries outside of the United States, its franchise stores, and its Anagram business were not part of the bankruptcy proceedings, the company said, adding that its stores would continue to remain open.

Shares of the party goods company were up about 11% at 41 cents before being halted premarket on Wednesday. The stock fell as much as 57% on Jan. 6 after the Wall Street Journal reported that the company could file for bankruptcy within weeks.

This post appeared first on NBC NEWS
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Business

Microsoft to lay off 10,000 workers, citing concern about a possible recession

Microsoft said Wednesday it would cut 10,000 jobs worldwide amid a slowing global economy.

In a blog post, Microsoft CEO Satya Nadella said the company was seeking to align its cost structure with projected revenues and where customer demand remained the strongest.

“As we saw customers accelerate their digital spend during the pandemic, we’re now seeing them optimize their digital spend to do more with less,” he wrote. “We’re also seeing organizations in every industry and geography exercise caution as some parts of the world are in a recession and other parts are anticipating one.”

The cuts affect less than 5% of the software giant’s total employee base, he said.

A person walks past the Microsoft headquarters in Redmond, Wash., on Nov. 14, 2019.Wang Ying / Xinhua via Getty Images file

The announcement is the latest in a wave of white-collar job losses that have hit as inflation, higher interest rates and lower growth have impacted spending across the world. Earlier Wednesday, the Department of Commerce said U.S. retail sales fell by 1.1% in December, more than analysts were expecting.

Microsoft joins companies including Google’s parent, Alphabet, Amazon, Facebook and Salesforce among the tech giants that have announced job cuts in recent months.

Microsoft has called for 2% revenue growth in the fiscal second quarter, which would be the slowest rate since 2016, CNBC reported.

This post appeared first on NBC NEWS
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Business

‘Millions of dollars were lost’: Lawyers spar over whether Elon Musk misled investors with his tweets

Opening arguments kicked off Wednesday in a trial that is pitting Tesla against shareholders accusing the company of misleading them over a tweet by Elon Musk stating funding had been ‘secured’ to take the electric car company private.

A lawyer for Tesla investors told a nine-person jury that Musk “lied” when he sent the Aug. 7, 2018 tweet, costing investors money while its share price fluctuated as Wall Street digested the information. Ultimately, the company remained publicly traded.

“Millions of dollars were lost when his lies were exposed,” said attorney Nicholas Porritt, who represents the investors.

A lawyer for Musk argued that the billionaire merely used the “wrong words,’ and that Musk was “serious” about taking the company private in 2018 with the help of Saudi Arabia’s public investment fund, but ultimately encountered shareholder opposition.

Lead shareholder plaintiff Glen Littleton is seeking billions of dollars in damages over the 2018 tweet. Shares of Tesla stock began a steady decline that continued into the following year.

The fallout led to an investigation by federal regulators. Musk and Tesla were separately fined $20 million and Musk was forced to step down as Tesla’s chairman. He also agreed to a requirement to have lawyers review his statements about Tesla before publishing them on social media.

Elon Musk arrives at the Met Gala in New York on May 2.Angela Weiss / AFP via Getty Images file

Last May, Judge Edward Chen, who is overseeing the trial, granted Littleton and the other plaintiffs summary judgment that Musk’s remarks about the take-private deal were false and reckless. A Northern California jury will now determine whether Musk knowingly made the false statement, how the tweet affected share price, and any damages.

“Everything is lined up for a plaintiffs’ win here,” Minor Myers, who teaches corporate law at the University of Connecticut, told Reuters, adding the ruling in May means the shareholders are “starting with runners on base.’

The case is unusual because most class-action securities lawsuits are either dismissed or settled out of court. Hundreds of U.S. securities class actions have been filed every year since the current laws governing the cases went into effect in 1996, but only 15 resulted in trial verdicts, according to data from law firm Wolf Popper LLP cited by Reuters.

If shareholders ultimately prevail and win damages, it will likely be years before they can collect due to the appeals process, experts said.

It is not clear whether Musk himself will testify. Other Tesla-linked individuals, including Larry Ellison, former board member and Oracle Corp. co-founder; and James Murdoch, current board member and son of media mogul Rupert Murdoch, may also testify.

This post appeared first on NBC NEWS
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Sports

Klinsmann ‘sad to see’ fallout from Reyna-Berhalter dispute

BERLIN (AP) — Former United States coach Jurgen Klinsmann says the fallout from the public dispute between coach Gregg Berhalter and the family of young star Gio Reyna is “obviously not looking good” for U.S. soccer.

Klinsmann, who coached the men’s national team from 2011-2016, said Wednesday he felt the problems between Berhalter and Reyna may have played a role in the team’s performance at the World Cup in Qatar. The U.S. advanced from the group stage before being eliminated with a 3-1 loss to the Netherlands in the round of 16.

“They’ve done okay,” Klinsmann said in an online call with journalists. “But they were not capable of kind of stepping it up there and making something happen.”

Berhalter used Reyna for just 53 minutes at the tournament. The U.S. coach told a forum on Dec. 6 that he almost sent a player home for lack of effort, remarks that were clearly about Reyna, the son of former U.S. captain Claudio Reyna.

The Reyna family responded by notifying the U.S. Soccer Federation that Berhalter had in 1991 kicked the woman who would later become his wife, prompting the federation to commission an outside law firm for an investigation. It was also conducting a staff review of the team’s performance over the four-year cycle.

Gio Reyna, who plays for German team Borussia Dortmund, said he was “devastated” before the tournament when Berhalter told him his role in Qatar would be very limited.

“I fully acknowledge that I let my emotions get the best of me and affect my training and behavior for a few days,” Reyna said. “I apologized to my teammates and coach for this, and I was told I was forgiven.”

Klinsmann said the stories that emerged after the World Cup were “sad to see” because the team had needed full concentration “to make something happen (but) it was not the case. There were issues, there were problems, and they were not able to solve those problems during the tournament.”

Klinsmann said the U.S. men’s team should be aiming for the semifinals of soccer’s biggest tournament.

“This is the dream. This is the goal. And I think that’s where we are still quite a bit away from,” said Klinsmann, who won the World Cup as a player with Germany in 1990. He went on to coach Germany to third place at the 2006 World Cup.

Klinsmann said the U.S. needs the 20-year-old Reyna, “an unbelievable, talented player that showed already in a very, very early age of his career or stage of his career that he can be a difference maker.”

Klinsmann referred to the U.S. hosting the 2026 World Cup with Mexico and Canada as “a gift from God,” and said the U.S. Soccer Federation needs to “figure things out” in the next few months.

“You want to have a team there that is capable to make it really far in the tournament,’ Klinsmann said. “And Giovanni Reyna definitely will be part of that team.”

___

More AP soccer: https://apnews.com/hub/soccer and https://twitter.com/AP_Sports

This post appeared first on USA TODAY
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Sports

Bucs longtime DL laments 2022 season, uncertain future

One of the longest-tenured players on the Tampa Bay Buccaneers’ current roster, defensive lineman Will Gholston has been a mainstay in the trenches for more than a decade, surviving a long list of coaching changes and scheme switches.

After signing a one-year deal to remain in Tampa Bay last offseason, Gholston once again finds himself heading for free agency, after a frustrating 2022 season that saw the Bucs get bounced from the playoffs in the first round.

After Monday night’s wild-card loss to the Dallas Cowboys, Gholston spoke with the media about this tumultuous 2022 campaign, and whether or not he’d prefer to remain with the Bucs next season.

‘Of course,’ he said on his desire to stay with the team that drafted him. ‘Who wouldn’t?’

Despite going 8-9 in the regular season, including a three-game losing streak midway through, Gholston said that there were positives to the rocky year.

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‘The biggest thing that I take away is no matter how up or down we were, nobody in this locker room pointed the finger at somebody else,’ he said. ‘We all held each other accountable. We all stuck together. We all showed the real bond of brotherhood when it comes to wearing that shield.’

This post appeared first on USA TODAY
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Sports

NFL wild-card playoffs drip check: Ray-Ray McCloud III goes edgy

The NFL playoffs are officially upon us and six teams brought their best on the field — and off of it. With a win-or-go-home mentality, the fashion statements need to be stronger than ever.

Fashionable teams like the Atlanta Falcons and Cleveland Browns no longer have the chance to show off their swag. But the San Francisco 49ers and Cincinnati Bengals — teams that each had strong showings during the regular season — have made the playoffs and the opportunity to continue their runway walk.

A major key to a good game day outfit is the accessories. Balaclavas have been a popular trend all season and continued in the postseason. An unexpected classic piece of headwear showed up during the wild-card playoffs that turned heads.

Here’s the NFL wild-card weekend drip check:

5. Ray-Ray McCloud III — San Francisco 49ers

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Ray-Ray McCloud III returns to the list with an edgy look. His puffer jacket is from Who Decides War. It’s the cream version of the orange statement piece Donovan Peoples-Jones wore in Week 14. The stringy grid ties in with the cream balaclava, which features stitching over the mouth to make it look like a skull.

His peach pants are from Kapital and declare that the 49ers are the West Coast Repair Service, here to reclaim their legacy.

4. Kayvon Thibodeaux — New York Giants

We don’t know what any of the brands are that Kayvon Thibodeaux is wearing. But that doesn’t even matter because his boldness to wear a top hat is what puts him on the list.

The classic accessory is the cherry on top of an all-black look that includes a blazer layered with a checkered fur jacket.

3. Trevon Diggs — Dallas Cowboys

Trevon Diggs came game day ready in this Canadian tuxedo. He paired a denim jacket with subtle stripes with a pair of jeans where one leg was purple. It’s a creative twist on a classic pairing.

2. CeeDee Lamb — Dallas Cowboys

The Dallas Cowboys were definitely the best-dressed team of wild-card weekend. Go ahead, scroll through and see for yourself. Week 16 winner CeeDee Lamb looked cool, calm and collected in this velvet smoking jacket. Stylist London Wilmot does not miss.

1. K.J. Osborn — Minnesota Vikings

K.J. Osborn hands down takes the wild-card crown. He showed up battle ready in this all-black look, which is head-to-toe Prada. His jacket has the perfect boxy cut, and his cargo pants his combat boots finish off the statement perfectly.

This post appeared first on USA TODAY
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