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Democrats scramble to defend Biden’s handling of classified materials, point fingers at Trump

Democrats wasted no time defending President Biden after classified documents dating back to the Obama administration were found in his home garage and an office, pointing out ‘differences’ from former President Trump’s handling of classified materials outside of Washington.

Under immense scrutiny from Republicans, Attorney General Merrick Garland appointed a special counsel Thursday to investigate the classified materials, which Biden claims were ‘inadvertently misplaced.’

The Justice Department escalated it to a special counsel investigation from a mere review after a second stash of classified documents was found inside the garage of Biden’s Wilmington, Delaware, home. The first documents were found inside the Washington offices of the Penn Biden Center think tank last year. Garland tapped Robert Hur, a former U.S. attorney, to handle the investigation.

In a statement Thursday evening first shared with Fox News Digital, Rep. Hank Johnson, D-Ga., attempted to highlight ‘big differences’ in Biden’s handling of classified documents and those found during an FBI-executed raid of Trump’s Mar-a-Lago home in Florida last summer.

‘It is refreshing to see the Department of Justice restored from its politicization during the Trump years, and I applaud Attorney General Garland for acting swiftly in appointing a special counsel to investigate the Biden document discoveries,’ Johnson said. ‘Based on what we know, there is a big difference between the Trump and Biden document cases.

‘At first, Trump lied about their very existence, while his lawyers asserted that there were no more documents. When Trump finally admitted that he knowingly took and possessed the classified documents, he refused numerous requests to return them. He even failed to comply with a subpoena,’ Johnson added. ‘Classified documents were actually seized from Trump’s own desk. Moreover, there is no documentation supporting any claim that any of the Trump documents were declassified.’

Johnson, insisting that Trump’s handling of classified materials is an ‘open-and-shut case,’ said it’s ‘too early to reach any conclusions’ about the way Biden handled classified documents.

‘The Trump document case is an open-and-shut case and should proceed without delay to a final and just resolution,’ he said. ‘There remains much we don’t know about the Biden document discoveries, and it’s too early to reach any conclusions. I am confident, however, that the process has begun to ensure that we get to the truth, and that justice will be done.’

Prior to his statement about it being too early to reach a conclusion about Biden’s handling of the documents, Johnson told Fox News’ Hillary Vaughn he is ‘suspicious of the timing’ surrounding the revelation of classified materials at Biden’s residence and suggested they could have been ‘planted.’

‘I’m also aware of the fact that things can be planted on people … things can be planted in places and then discovered conveniently,’ he said. ‘That may be what has occurred here. I’m not ruling that out. But I’m open in terms of the investigation needs to be investigated.’

Despite Johnson speculating the documents could have been planted, Biden admitted to Fox News’ White House correspondent Peter Doocy that he knew they were in his garage. 

‘So the documents were in a locked garage?’ Doocy asked.

‘Yes, as well as my Corvette,’ Biden answered.

Rep. Adam Schiff, D-Calif., also pointed to Trump when asked about Biden’s possession of classified documents at his Delaware home, telling Fox News there are ‘contrasting factors’ with how Biden and Trump handled the materials.

‘There are, as far as I can see, enormous differences between the situation with President Biden and the former president,’ he said. ‘Let’s not lose sight of the seriousness and the contrasting factors that we see with the case of the former president.’

Concluding that there is no apparent wrongdoing by Biden, Schiff said it ‘certainly appears’ that Biden’s handling of the documents was ‘inadvertent.’

‘Was this inadvertent? It certainly appears that it was. Was there any evidence of obstruction? There certainly appears to be no evidence of that. Was there any evidence of a breach of the security of the documents? I’ve seen no evidence of that either,’ he said.

‘I would just say that I think whenever classified documents are in a place they shouldn’t be, it’s a deep concern for those of us on the Intelligence Committee,’ the California Democrat added.

Democrat Rep. Jim Clyburn of South Carolina, who is also in support of Garland’s move to appoint a special counsel, insisted Biden’s handling of materials compared to Trump’s is ‘dramatically different.’

‘In this instance, they are dramatically different,’ Clyburn said during an appearance on MSNBC. ‘The intent on the part of the president is not there, the cooperation on the part of the president is there. The exact opposite to what you had with the parallel of former President Trump.’

Regarding the appointment of a special counsel investigation, Clyburn said, ‘This is the kind of thing that must be agreed upon by the public, and I don’t think you can get the public to agree about anything unless there’s complete openness.’

Other Democrats are also in support of the special counsel appointment, including Washington Democratic Reps. Adam Smith and Pramila Jayapal, both of whom refrained from mentioning Trump.

‘I support the decision to appoint a special counsel,’ Smith told Fox News. ‘Properly handling classified information is crucial to national security. Any time classified material is found where it is not supposed to be, the Justice Department must do a thorough investigation.’

Similarly, Jayapal, who serves as chair of the Congressional Progressive Caucus, said it is ‘irresponsible to not disclose when you have documents’ but concluded that the president is cooperating with the Justice Department.

‘[Biden] has certainly done that. And he’s been working cooperatively to make sure that everything is disclosed. That is what should happen,’ she added. ‘Yes, we certainly need to start understanding why these documents are making their way out of the White House.’

White House lawyers say they immediately contacted the DOJ when they discovered the documents this week. There has been no indication of what the documents contain or whether Biden or anyone else read them after he left office as vice president.

‘Lawyers discovered among personal and political papers a small number of additional Obama-Biden administration records with classified markings. All but one of these documents were found in storage space in the president’s Wilmington residence garage,’ White House lawyers wrote in a statement Thursday. ‘One document consisting of one page was discovered among stored materials in an adjacent room.’

The White House says no documents were found at Biden’s residence in Rehoboth Beach. Biden’s administration has also arranged to deliver the documents to DOJ custody.

Fox News’ Anders Hagstrom and Greg Wehner contributed to this article.

Kyle Morris covers politics for Fox News. Story tips can be sent to kyle.morris@fox.com and on Twitter: @RealKyleMorris.

This post appeared first on FOX NEWS
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2022 Stock Market Review

2022 has ended, but the bear market and need for risk management remains!

The year 2022 ended with the stock market delivering its largest yearly losses since 2008. The fourth quarter of 2022 saw new bear market lows in the S&P 500 index, Nasdaq Composite, and Bloomberg Agg Bond Index.

The S&P 500 index finished the year down 19.44%, after being down nearly 25% at its lowest point in the year on October 12.The Nasdaq Composite finished the year down 33.1% with its lowest point being down almost 35% on December 28.The Dow Jones Industrial Average dropped in December to finish the year down 8.78%.The Bond index finished down 13% for its worst calendar year performance in many decades.A traditional allocation of 60% stocks and 40% bonds was down approximately 17%.

The main theme driving markets in 2022 was inflation; its causes, how long it would persist, and how the Fed would respond to it. The Fed moved in historic fashion to raise interest rates, making seven consecutive rate increases totaling 425bps, but inflation is still too high, and the Fed has stated more rate increases are needed and that rates would be held higher for longer to get inflation to their desired goal of 2%. The rapid monetary tightening aimed at bringing down inflation will ultimately succeed, but the cost will likely be a global recession in 2023. The story for 2023 will continue with inflation as the main theme but will soon be dominated by talk of a recession.

The drop in the stock market during 2022 improved equity valuations some, but the market is still overvalued by most estimates. The growing likelihood of a recession is a big risk to corporate earnings, as a recession would mean revenues decline, and profit margins compress from their current cyclical-high levels. Another leg down in the stock market (and possibly the bottom of the bear market) may come as companies reevaluate their earnings expectations to account for a global recession.

Given the high likelihood of a recession, active investors may feel sitting in cash is their best option right now, but without a disciplined approach for re-allocating capital when the investing environment improves, most investors will inevitably stay in cash far too long and miss out on the growth potential that comes after bear markets. We think the better approach is to invest using risk-managed strategies, which can participate in market upside when appropriate, while always maintaining downside protection if this bear market worsens.

Trend Plus Strategy

Our Trend Plus strategy was down 9.9% in 2022, ahead of the S&P 500 index, Nasdaq Composite, traditional 60/40 allocations, and even down less than the U.S. bond benchmark for the year. After the early January 2022 defensive move, the strategy attempted to participate in several of the counter-trend rallies that occurred during the year, but each bear market rally eventually failed and Trend Plus was stopped out to avoid riding the market to lower levels. 

Risk management and downside protection are critical to generating long-term performance and we know we can come out ahead by minimizing drawdowns in the bad markets. The graph below shows the times at which Trend Plus was invested in the market (green) versus positioned defensively (red). Even though the model suffered a few whipsaw trades, the ability to avoid the large down moves in the market kept us ahead.

Sector Rotation

The Sector Rotation momentum strategy was down 13.7% in 2022, well ahead of the S&P 500 index, Nasdaq Composite, and traditional 60/40 allocations. Sector Rotation also only had a drawdown during the year of 15.5% (peak-to-trough move), while at one point the S&P 500 had lost a full quarter of its value (down 25% in October). Drawdowns are painful for investors and reducing the magnitude and duration of drawdown periods ultimately provides a smoother ride. The strategy didn’t suffer any whipsaw trades since moving defensive in February. The defensive positions have had mixed performance with the U.S. dollar showing strength while gold lost ground for most of the year. But during the fourth quarter, gold established itself in an uptrend and was additive to strategy returns.

The strategy remains defensive with no equity exposure and will protect client accounts if a further selloff is experienced in the stock market.

TPSR (50% Trend Plus & 50% Sector Rotation)

The TPSR strategy was down 11.7% in 2022, well ahead of the broad market which was down more than 19% and traditional 60/40 portfolios which were down 17%. Having exposure to Trend Plus and Sector Rotation strategies has provided good results during a tough market environment, ultimately beating benchmark returns through superior risk management. This blended strategy has the ability to be reactive to changing market conditions and allocate quickly if a market rebound occurs, while still focusing on moves defensive to protect client capital if the bear market worsens.

Summary

We have stated many times in our investor updates that nobody can know if the bear market is over until the market attains new all-time highs. Allocating investors’ capital based on guesses that the “bottom is in” is foolish and a recipe for disaster, although many take this approach. Our approach is different and, we think, a much better way to invest client assets. Our disciplined, rules-based, quantitative approach to investing is robust, has been time-tested, and has delivered outstanding results across many market environments, including protecting investors from significant drawdowns this past year.

We will attempt to participate in market rallies when they occur, but always with a focus on risk management and downside protection. Compounded returns over time are greater if smaller losses are taken during bear markets and that is what our strategies delivered in 2022.

We feel strongly that all investors should have an allocation to tactical strategies such as ours to improve their overall portfolio performance and make it through bear markets more successfully. Please contact us if you have any questions about our strategies or how MSCM can play an important part in your investment management plan.

Our strategy sheets are accessible through the buttons below, and on our website mscm.net.

TPSR

TREND PLUS

SECTOR ROTATION

TREND X

Dance with the Trend,

Grant & Greg Morris

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Multi-Timeframe Trade in Tesla

On this week’s edition of Stock Talk with Joe Rabil, Joe shows how he uses multiple timeframes to pinpoint a recent countertrend trade setup in TSLA. Joe uses Candles, Moving Averages, Price Structure, MACD, and ADX to help on this setup. He starts with the monthly chart and works down to a 2-minute timeframe to execute. He then covers the stock symbol requests that came through this week.

This video was originally broadcast on January 12, 2023. Click this link to watch on YouTube. You can also view new episodes – and be notified as soon as they’re published – using the StockCharts on demand website, StockChartsTV.com, or its corresponding apps on Roku, Fire TV, Chromecast, iOS, Android and more!

New episodes of Stock Talk with Joe Rabil air on Thursdays at 2pm ET on StockCharts TV. Archived episodes of the show are available at this link. Send symbol requests to stocktalk@stockcharts.com; you can also submit a request in the comments section below the video on YouTube. Symbol Requests can be sent in throughout the week prior to the next show. (Please do not leave Symbol Requests on this page.)

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GNG TV: Changing Tides for Risk Assets

As all of Wall Street dissects CPI data and what that might mean for the Fed’s next rate hike, Alex and Tyler look through what is actually happening from a price perspective in this week’s edition of the GoNoGo Charts show. With inflation coming in softer for December, sovereign bonds are stabilizing. Fixed Income “Go” trends mean the pressure is coming off risk assets as yields fall lower. Interestingly, dollar weakness is also providing tailwinds to a long-awaited, much-anticipated rally in Gold and other precious metals. Within the equity space Alex and Tyler flip through many individual names in the Materials, Financials and even consumer discretionary space with new breakouts to the upside and key inflection points for their respective GoNoGo Charts including Berkshire Hathaway, Freeport McMorran, Dow Holdings, Carvana, Dave & Busters, and Bed Bath and Beyond. Yet the clearest evidence for risk appetite is depicted in the fresh Go Trend for Bitcoin.

This video was originally recorded on January 12, 2023. Click this link to watch on YouTube. You can also view new episodes – and be notified as soon as they’re published – using the StockCharts on demand website, StockChartsTV.com, or its corresponding apps on Roku, Fire TV, Chromecast, iOS, Android, and more!

New episodes of GoNoGo Charts air on Thursdays at 3:30pm ET on StockCharts TV. Learn more about the GoNoGo ACP plug-in with the FREE starter plug-in or the full featured plug-in pack.

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Stocks

Inflation Softens: Will Interest Rates Still Rise?

The December consumer price index (CPI) was welcome news for the stock market. Headline and core CPI numbers came in line with expectations. Headline CPI year-over-year is up 6.5% and core CPI is up 5.7%. Even though the softening inflation number was probably already priced into the market, the broader market indexes all closed higher. It’s a move in the right direction and, if this trend continues, it’s positive news for the stock market, going forward. But it’s not a done deal.

There needs to be a slowdown in rent and services, two areas that are still putting pressure on inflation. The labor market and wage growth need to cool down a lot more before inflation can come close to the 2% objective. If you pull up a chart of the headline CPI ($$CPICH), you’ll notice that it’s starting to trend lower (see chart 1). And that’s an assuring sign that inflation is indeed cooling.

CHART 1: CHAINED CONSUMER PRICE INDEX ($$CPICH). The upward trend in the headline CPI is starting to turn lower. Chart source: StockCharts.com. For illustrative purposes only.

Are Investors Becoming More Complacent?

Another area to watch is volatility. The CBOE Volatility Index ($VIX) seems to be finding a new home below the 20 level. If it stays around this level or goes even lower to pre-pandemic levels, it could be a sign that investors are getting more complacent. But that would mean that investors would gravitate towards risk-on investments, Yet gold is trading higher. Does that mean investors are still uncertain and want to tread carefully? Perhaps, given that earnings season kicks off with four large banks—JP Morgan Chase (JPM), Wells Fargo Bank (WFC), Citigroup (C), and Bank of America (BAC).

Banks set the stage for the earnings season, since their results provide an overarching view of the state of the economy. That’s enough to make investors a tad bit nervous.

Loans are a big driving force behind bank earnings. If you want a mortgage or a car loan, you have to go to your bank to get one. Higher interest rates help banks earn greater profits on loans. It’ll be interesting to see how much the higher rates helped. You also get a look at trading activity that took place during the last quarter; given the volatility in the market last quarter, there’s a chance that trading activity increased. Another important theme to listen for from the bank reports is the state of business and consumer credit. It’s a great indicator for gaining insight into business and consumer activity, two big economic driving forces.

Recession or Soft Landing?

The Fed will make its next interest rate decision on February 1. Hopefully, Jay Powell and his team look at the December CPI number favorably. But it’s just one data point. A further hike in interest rates is likely, at least for the next few meetings, but the rate at which interest rates are hiked may slow down. The CME FedWatch Tool shows over a 90% probability the Fed will raise interest rates by 25 basis points. That would be an indication that inflation is cooling, which could mean a soft landing. If the Fed decides to raise rates by 50 basis points, there could be some wild swings in the market. A lot depends on the labor market and services. When both these start to cool, it could be an indication that the Fed is in the home stretch of its interest rate hike.

The Stock Market is Optimistic

It was nice to see the Nasdaq Composite ($COMPQ) get a boost, closing just a hair above 11,000. Besides being a round number, this level holds some significance. If you look back on the daily chart of $COMPQ (see chart 2), on December 15, 2022, you’ll see there’s a gap down in value to the 11,000 level. If $COMPQ continues higher, the gap would be filled and the index could move up to the 11,500 level. The other side of the coin is that the 11,000 level could act as a resistance level and $COMPQ could fall back down toward the 10,200 level.

CHART 2: NASDAQ COMPOSITE AT CRITICAL LEVEL. Will it break above 11,000 and fill its December 15 gap down or will it bounce off the level and move lower? Something to keep an eye on in the coming days. Chart source: StockChartsACP. For illustrative purposes only.

Investors Are Still Cautious

Positive news is great, especially after a super volatile market at the end of 2022. But anything can happen during earnings season. So, tread carefully, keep an eye on your technical indicators, and make risk management a priority.

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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Inflation cooled in December to 6.5%, but the Fed is likely to keep interest rates high

Price growth in the United States cooled in December as the economy continued to show signs of weakening. Inflation landed at 6.5% compared to the 12 months prior.

That figure was in line with analysts’ expectations, and a decrease from the 7.1% seen in November. On a month-to-month basis, inflation fell by 0.1% in December, in line with expectations.

The slowing rate of inflation is likely to signal to the Federal Reserve that its interest-rate hikes are working but, so far, Chair Jerome Powell has not indicated any near-term plan to significantly pull back from those increases until inflation gets closer to 2%.

The economy continues to be buoyed by a strong labor market. Last week, the Bureau of Labor Statistics reported the unemployment rate had hit a 53-year low, falling to 3.5%, but the difficulty that companies are experiencing when it comes to finding workers can still be seen in the 10.5 million job openings it reported.

While that number has fallen from its post-pandemic highs, it’s causing many employers to increase wages. That’s good news for workers, but some Federal Reserve officials say they believe those pay increases are most likely translating into higher prices for customers.

“To be clear, strong wage growth is a good thing,” Powell said at a conference in November. “But for wage growth to be sustainable, it needs to be consistent with 2% inflation,” he added.

A shopper waits to check out in a grocery store in San Francisco last May.David Paul Morris / Bloomberg via Getty Images file

Where in the U.S. economy have prices fallen?

In December, the cost of gasoline fell to levels last seen before the war in Ukraine began, to roughly $3.10 per gallon.

BLS data Thursday showed a 9.4% monthly drop for gasoline prices in December.

An index that tracks prices among small businesses has also stopped its breakneck pace of growth, though it remains well above pre-pandemic levels.

Prices for goods and services bought online in December were 1.6% lower than they were a year earlier — the fourth-consecutive month of annual price declines, according to data from Adobe Analytics. It said holiday discounts drove down prices of appliances, electronics, toys, computers and sporting goods, while price increases cooled off in categories like personal care.

The cost of food has proven to be more stubborn, thanks in part to extreme weather events, bird flu and labor shortages that have affected the cost of growing crops and delivering groceries.

Thursday’s BLS data showed food prices advanced 0.3% on a monthly basis in December.

But Wednesday, the food giant Conagra, which produces the Healthy Choice, Birds Eye and Chef Boyardee brands, told Reuters it plans to pause price hikes on snacks and frozen foods after the current quarter.

Economists at Bank of America say Thursday’s inflation report is unlikely to cause Fed officials to abandon their plan to aggressively slow the economy through interest rate hikes.

‘While there are growing signs that inflation has peaked, the Fed is worried about the overheating labor market,’ they said in a report this week. ‘Our outlook for the December [inflation] report is unlikely to quell those concerns.’

This post appeared first on NBC NEWS
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CVS sued by a fired nurse practitioner who refused to prescribe birth control due to her religious beliefs

A former CVS Health nurse practitioner is suing the pharmacy chain for firing her after she refused to prescribe birth control, citing her religious beliefs.

Texas resident J. Robyn Strader said in the suit that her Baptist Christian faith prevents her from prescribing contraceptive and abortion-inducing drugs. She said that for six and a half years, CVS granted her a religious accommodation to forego having to prescribe the drugs at the CVS MinuteClinic where she worked. When a customer needed the prescription, she would refer them to a colleague or another CVS MinuteClinic.

But in August 2021, CVS said it was revoking all religious accommodations. That’s illegal, Strader and her attorneys argue, citing Title VII of the Civil Rights Act, which states employers cannot “avoid accommodating a religious practice that it could accommodate without undue hardship,’ and another court decision that states religious accommodation requests must be considered on an individual-employee basis.

CVS spokesperson Mike DeAngeles said in an email that “educating and treating patients regarding sexual health matters — including pregnancy prevention” had become “essential” as the company had expanded its clinic services, and that it could not grant a religious accommodation excusing employees from them.

CVS is facing at least two other lawsuits in federal court brought by former nurse practitioners in Kansas and Virginia who say they were fired over the policy.

CVS’ biggest competitor, Walgreens, has previously come under scrutiny for its policy allowing employees to refuse to carry out some transactions, including dispensing contraceptives, that go against their religious beliefs. The company has said in such instances, the employee can refer the customer to another colleague.

This post appeared first on NBC NEWS
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Soaring US egg prices put pressure on consumers, businesses

Chickens may not be able to fly very far, but the price of eggs is soaring.

A lingering bird flu outbreak, combined with soaring feed, fuel and labor costs, has led to U.S. egg prices more than doubling over the past year, and hatched a lot of sticker shock on grocery aisles.

The national average price for a dozen eggs hit $3.59 in November, up from $1.72 a year earlier, according to the latest government data. That’s putting stress on consumer budgets and the bottom lines of restaurants, bakeries and other food producers that rely heavily on eggs.

Grocery prices that were up 12% in November are driving inflation higher, even though the overall pace of price increases slowed a bit through the fall as gas prices eased.

But egg prices are up significantly more than other foods — even more than chicken or turkey — because egg farmers were hit harder by the bird flu. More than 43 million of the 58 million birds slaughtered over the past year to control the virus have been egg-laying chickens, including some farms with more than a million birds apiece in major egg-producing states like Iowa.

Everyone who approaches the egg case a Hy-Vee grocery store in Omaha, “has a sour face,” said shopper Nancy Stom.

But even with the cost increases, eggs remain relatively cheap compared to the price of other proteins like chicken or beef, with a pound of chicken breasts going for $4.42 on average in November and a pound of ground beef selling for $4.85, according to the Bureau of Labor Statistics.

“It’s still an inexpensive meal,” Stom said. But the 70-year-old said that at these prices, she’ll watch her eggs more closely in the fridge and try not to let them go bad before they get used.

If prices remain this high, Kelly Fischer said she will start thinking more seriously about building a backyard chicken coop in Chicago because everyone in her family eats eggs.

“We (with neighbors) are contemplating building a chicken coop behind our houses, so eventually I hope not to buy them and have my own eggs and I think the cost comes into that somewhat,” the 46-year-old public school teacher said while shopping at HarvesTime Foods on the city’s North Side. “For me, it’s more of the environmental impact and trying to purchase locally.”

In some places, it can even be hard to find eggs on the shelves. But egg supplies overall are holding up because the total flock is only down about 5% from from its normal size of around 320 million hens. Farmers have been working to replace their flocks as soon as they can after an outbreak.

Jakob Werner, 18, said he tries to find the cheapest eggs he can because he eats five or six of them a day while he’s trying to gain weight and build muscle.

“For a while, I just stopped eating eggs as they got more expensive. But since they’re my favorite food, I came back to them in the end,” said Werner, who lives in Chicago. “So I think for like a few months I just stopped eating eggs, waited for the price to come down. It never did. So now I’m buying again.”

A customer checks for broken eggs before purchasing at a supermarket in Los Angeles on Jan. 8, 2023.I RYU / VCG via Getty VCG via Getty Images

Purdue University agricultural economist Jayson Lusk said he believes the bird flu outbreak is the biggest driver in the price increases. Unlike past years, the virus lingered throughout the summer and made a resurgence last fall infecting egg and poultry farms.

But she said bird flu remains a wildcard that could still drive prices higher if there are more sizeable outbreaks at egg farms.

Farmers are doing all they can to limit the spread, but the disease is easily spread by migrating wild birds and the virus can be picked up on clothing or vehicles.

“But there are some things that are just outside of our control,” Thompson said. “You can’t control nature sometimes.”

Food producers and restaurants are hurting because it’s hard to find a good substitute for eggs in their recipes.

Any decrease in egg prices would be welcome at Patti Stobaugh’s two restaurants and two bakeries in Conway and Russelville, Arkansas, because all of her ingredients and supplies are more expensive these days. For some of her baked goods, Stobaugh has switched to a frozen egg product that’s not quite as pricey, but she’s still buying eggs for all the breakfasts she serves.

A case of 15 dozen eggs has gone from $36 to $86 over the last year, but flour, butter, chicken and everything else she buys is also more expensive. Stobaugh said that has her “hyper vigilant about every little item.”

She’s already increased her prices 8% in the past year, and she may have to soon increase them again. It’s a delicate balance of trying not to make it too expensive for people to eat out and hurting sales, but she doesn’t have much choice while trying to provide for her 175 employees.

“We have a lot of employees that work for us and we’re responsible for making payroll every week and supporting their families. We take that very seriously. But it certainly has been tough,” Stobaugh said.

This post appeared first on NBC NEWS
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Former NFL running back making progress after swimming accident

Former NFL running back Peyton Hillis is on the road to recovery following a swimming accident last week. On Wednesday, Hillis was taken off a ventilator and making positive strides, according to his girlfriend Angela Cole.

Cole shared the positive update on her Instagram account and expressed gratitude for the love and support the family has received.

‘Peyton is off the ventilator and is on the road to recovery,’ Cole wrote. ‘Please continue to pray for he’s still got a ways ahead of him, but thank you for all of your prayers and love and support thus far. It truly makes all the difference.’

Hillis, 36, was hospitalized and listed in critical condition after rescuing his children from drowning off the coast of Pensacola, Florida. He was hospitalized and listed in critical condition. KNWA Fox 24 reporter Alyssa Orange also reported Hillis was in intensive care.

Former athletes and the sports community offered support for Hillis. ESPN analyst Robert Griffin III was encouraged by the latest update and called Hillis a superhero for his efforts in saving his family.

Follow every game: Latest NFL Scores and Schedules

‘Peyton Hillis is a dang Super Hero,’ Griffin wrote in a tweet. ‘He saved his kids from drowning in the ocean while putting his own life in danger for the sake of his family. Glad to hear he is on the road to recovery after being in critical condition.’ 

Cole echoed a similar sentiment in her Instagram post.

‘A hero. So proud of this man and so incredibly grateful for family and this incredible hospital,’ Cole wrote.

She concluded, ‘Today was a good day.’

Hillis played collegiately at Arkansas. He was selected in the seventh round of the 2008 NFL Draft by the Denver Broncos. He recorded 2,832 rushing yards and 26 touchdowns during his seven-year career, which also included stints with the Broncos, Cleveland Browns, Kansas City Chiefs and New York Giants.

During the 2010 season, Hillis experienced a breakout year with the Browns. He rushed for 1,177 yards and 11 touchdowns. He added 61 receptions for 477 yards and two scores. Hillis later landed the cover of the ‘Madden 12’ video game.

This post appeared first on USA TODAY
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2021 NASCAR champ will race Indy 500 and Coke 600 on same day in 2024

With 500 days left until the 2024 Indianapolis 500 — yes, you read that right, 2024 — the 108th running of the Greatest Spectacle in Racing now has its first one-off driver entry, one that very well may steal the show.

Kyle Larson, the 2021 NASCAR Cup Series champion and legendary dirt track racer, has linked up with Arrow McLaren, with support of his NASCAR boss Rick Hendrick, to run the 2024 Indy 500 on May 26. The 30-year-old Californian will (pending 2023 entries) become just the fifth driver to run The Double across IndyCar and NASCAR on the Sunday of Memorial Day weekend.

Similar to Kurt Busch, the last driver to have attempted The Double in 2014, Larson will have more than a year to ramp up his Indy car familiarity through testing opportunities that will likely include a day on a non-IMS oval, as well as running his Rookie Orientation Program months ahead of his Month of May debut, as many 500 rookies have done in recent years.

His livery for his Indy 500 debut, as well as his car number, will be announced at a later date, but his entry will be co-owned by Hendrick and carry title sponsorship from HendrickCars.com — Larson’s primary sponsor in the Cup series for his No. 5 Chevy-powered ride.

‘Competing in the Indianapolis 500 is a dream of mine and something I’ve wanted to do for a very long time — since I was a child, before I ever began competing in sprint cars,’ Larson said in a release. ‘To do it with Arrow McLaren and Mr. Hendrick, especially, is a dream come true.

‘I’m really looking forward to it, even though it’s still about a year-and-a-half away…and maybe (I’ll) get a win or two that day.’

The 2021 Coca-Cola 600 at CMS was Larson’s second of his 10 victories two years ago in what quickly became a dominant performance en route to his first Cup title in his maiden season with Hendrick Motorsports. To date, Larson’s won 19 points-paying Cup races as well as the 2019 and 2021 All-Star race and the 2014 Rookie of the Year award.

‘IT’S JUST TIME: 2014 NASCAR champ Kevin Harvick to retire after 2023 season

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Next year’s 500 will mark Hendrick’s first foray into IndyCar racing for the team owner whose stock car teams have won an all-time record 291 points-paying Cup races. He’s also NASCAR’s winningest owner on the IMS oval with 10 Brickyard 400 wins on the 2.5-mile oval (Jeff Gordon, 5; Jimmie Johnson, 4; Kasey Kahne, 1).

‘Having the opportunity to support Kyle, partner with an elite team like Arrow McLaren and promote HendrickCars.com in one of the world’s great auto racing events is truly unique,’ Hendrick said in a release. ‘Putting Kyle in top-level equipment and allowing ample time for him to prepare for such a difficult challenge was important.

‘A collaboration like this was what we needed to make it happen, and fortunately, the stars aligned. We’re 100% committed to doing it right and look forward to working with Zak and his organization.’

After being one of a handful of those in the NASCAR world that had raised their hands of late as possible candidates who might like to follow in the footsteps of Busch, Robby Gordon, Tony Stewart and John Andretti, Larson looked as if he might be primed to make a run at the 500 this year as McLaren Racing CEO Zak Brown attempted to field a major name in a one-off ride alongside his three-car full-season tandem of Pato O’Ward, Alexander Rossi and Felix Rosenqvist. Larson, Hendrick and Gordon (the vice chairman of Hendrick Motorsports) held preliminary conversations with Brown’s squad but couldn’t come to a deal that made sense for both sides.

Additionally, McLaren’s IndyCar arm also flirted with Kurt Busch’s younger brother Kyle, after it was revealed the latter would be switching Cup teams and manufacturers in 2023 to Chevy and Richard Childress Racing from Toyota and Joe Gibbs Racing. The younger Busch made clear in his initial statements of his long-held wishes to do ‘The Double’ and of his ability to finally pursue such an opportunity that Toyota and Gibbs had previously blocked. But in the end, Brown said he preferred an experienced driver and one that would be guaranteed to have the talent to contend for a win. Arrow McLaren signed just that in 2013 500-winner and 2022 3rd-place finisher Tony Kanaan.

As Kanaan had already hinted at to IndyStar late last year, his 22nd appearance in the Greatest Spectacle in Racing could very possibly be his last, though he’s said he’s not entering this May with that decision firmly made. In Arrow McLaren’s release regarding the addition of Larson, it referenced ‘an opening in its 2024 lineup’, hinting that Kanaan’s tenure at Arrow McLaren will almost certainly be for one race as the team considers bumping up to four full-time cars in 2024 that would make Larson its fifth driver.

There still exists a chance Larson’s attempt at ‘The Double’ might be preceded by Johnson, who said earlier this week he’s still considering a 500 opportunity with Chip Ganassi Racing — the team he ran a full-season IndyCar campaign with in 2022 before stepping away from full-time racing to pursue an ownership stake with what’s now known as Legacy Motor Club (previously Petty GMS) with Richard Petty and Maury Gallagher. Johnson is committed at the moment to making his debut in his No. 84 Chevy at the Daytona 500, and he’s also said he’d like to run a handful of other Cup races in 2023 — including possibly the All-Star race that directly conflicts with qualifying for the 500, as well as the Coca-Cola 600 in an attempt to add ‘The Double’ to his hall-of-fame resume.

This post appeared first on USA TODAY
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