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Vice President Harris’ campaign is organizing to target Republican voters with new outreach through paid media and grassroots-driven digital efforts while touting recent endorsements from GOP dissenters, Fox News Digital has learned.

Harris campaign spokesperson Ian Sams told Fox News Digital that Harris ‘has Republican momentum right now.’ 

The Harris campaign pointed to recent endorsements from Republicans and former Republicans, like former Rep. Liz Cheney, former Rep. Adam Kinzinger, Jimmy McCain, son of late-Sen. John McCain, and more than 200 staffers who served in Republican administrations.

Cheney lost re-election in 2022 after being ousted from her role as the House GOP Conference chair due to her role on the House Jan. 6 Committee and anti-Trump statements. Kinzinger, who also sat on the House Jan. 6 Committee, retired from Congress in 2022. 

‘We are proud of the bipartisan groundswell behind Vice President Harris,’ Sams told Fox News Digital. ‘And we will continue working every day to earn the support of Republican voters who want a president like her who still believes in patriotism, freedom, and our Constitution.’

A Harris campaign official also touted the half dozen Republican speakers at the Democratic National Convention last month, including Kinzinger, former Trump White House national security official Olivia Troye and former White House press secretary Stephanie Grisham.

A Harris campaign official also pointed to the Republicans for Harris program it launched last month, which included endorsements from former GOP Massachusetts Gov. Bill Weld, former GOP New Jersey Gov. Christine Temple Whitman and former GOP Illinois Rep. Joe Walsh.

The Harris campaign also told Fox News Digital it has a ‘National Republican Engagement Director’ who is dedicated to ‘furthering the campaign’s outreach to Independents and moderate Republicans.’ The campaign has spent more than seven-figures communicating with those voters, it said. 

But the Trump campaign blasted the Harris campaign’s claims of ‘Republican momentum.’

‘Kamala’s team is desperately grasping at straws because they are threatened by President Trump’s endorsements from influential former Democrats like RFK Jr. and Tulsi Gabbard,’ Trump campaign national press secretary Karoline Leavitt said. ‘No conservative in their right mind will be voting for radical Marxist, weak-on-crime, open border, high tax Kamala Harris.’ 

‘We do agree with Liz Cheney on one thing,’ Leavitt said, pointing to Cheney’s Aug. 11, 2020, tweet in which she blasted Harris as a ‘radical liberal.’

Former President Trump last month landed endorsements from former Democrat Robert F. Kennedy Jr., and former Democrat Rep. Tulsi Gabbard, D-Hawaii.

RFK Jr. and Gabbard officially joined the Trump transition team last week, a move that broadened Trump’s coalition of supporters ‘across partisan lines.’

This post appeared first on FOX NEWS

When the stock market is hobbling along, trying to determine whether the recent jobs and manufacturing data are good or bad for the economy, it’s easy to miss some of the stocks that could make intermediate-term profitable returns.

One stock that has shown strong technical strength in the last couple of days is Tesla, Inc. (TSLA). I noticed TSLA stock entered the StockCharts Technical Rank (SCTR) Reports top 5 in the Large Cap, Top Up category. When an actively-traded stock like TSLA pulls back almost 30% and shows signs of recovery, it’s time to pay attention.

FIGURE 1. DAILY SCTR REPORTS SHOW TSLA IN THE TOP 5 OF THE TOP-UP, LARGE-CAP STOCKS.Image source: StockCharts.com. For educational purposes.

Tesla Stock Analysis

While the rise in Tesla’s stock price can be attributed to news of the company launching self-driving assistance software, it’s worth analyzing TSLA stock from a technical perspective. If there’s enough momentum behind the stock price rise, it could make for a profitable intermediate-term trade.

We’ll start with an analysis of the weekly chart of TSLA (see below).

FIGURE 2. TSLA STOCK ANALYSIS ON A WEEKLY CHART. TSLA is trading between its 50- and 200-week moving average. Its RSI is rising gradually, as is its relative performance against the S&P 500.Chart source: StockChartsACP. For educational purposes.

TSLA is trading between its 50- and 200-week simple moving averages (SMA). Both SMAs indicate that the weekly trend in TSLA stock is relatively flat. However, the SCTR score is rising, and the relative strength index (RSI) is displaying a gentle upward slope. The relative strength of TSLA with respect to the S&P 500 ($SPX) has been weakening. If the line breaks above the downward-sloping red-dashed trendline (see bottom panel), from a weekly perspective, the stock could rise further. TSLA’s stock price was in the $400 area before its decline.

Is it worth buying the stock now? Let’s analyze Tesla’s daily price action (see below).

FIGURE 3. DAILY CHART ANALYSIS OF TSLA STOCK PRICE. Tesla’s stock price is still above its August 20 high, but momentum needs to be stronger. Look for MACD to start moving higher.Chart source: StockChartsACP. For educational purposes.

The following are some points to note:

TSLA is trading above its 21-day exponential moving average and 50-day SMA.The short-term uptrend from the August low is still valid.The Chaikin Money Flow (CMF) indicator is in positive territory, which suggests that there is more buying than selling pressure.The Moving Average Convergence/Divergence (MACD) oscillator displays relatively weak momentum.

When Should You Buy TSLA?

Since TSLA’s stock price is news-related, it’s best to thoroughly analyze the chart before deciding when to enter a long position. The following are a few points to consider:

Can TSLA take out its August 20 high? If it does, then you have signs of an uptrend (higher highs and higher lows). If not, look to see where the stock price establishes its next low. If it goes below the upward trendline, then the uptrend condition is violated.Although the CMF shows more buying pressure, it’ll have to move higher to levels similar to the jump from July 1 to July 10.The MACD must cross into positive territory and move higher, like in July.Last, but not least, the SCTR score needs to remain above 70.

When Should You Exit TSLA?

Let’s assume the upward trend continues with strong volume and momentum. If you were to open a long position above $228 (August high), then, on your chart, use the Annotations tool to add Fibonacci Retracement levels from a recent low and high. Use these levels to help determine entry and exit points.

The bottom line. Add the daily and weekly charts of TSLA to one of your StockCharts ChartLists. Watch the price action and determine if it’s worth entering a trade. Before entering the trade, know how much you’re willing to lose on the trade and set your stop loss levels and profit targets. Set StockCharts Alerts to notify you when specific price levels are hit. You never want to marry a stock. It’s a numbers game.

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.

A blessed distraction beats a tragic outcome every time.

That’s where the San Francisco 49ers are after what should have been a relaxing Labor Day weekend was upended by the shocking shooting of rookie wide receiver Ricky Pearsall on Saturday – an unwelcome punctuation to what was an already eventful few days.

“When it comes to Ricky, we’re all just so thankful he’s gonna be OK,” Niners All-Pro tight end George Kittle told USA TODAY Sports when asked about Pearsall, who was discharged from the hospital Sunday after being shot in the chest.

Kittle said hearing the news was “wild.”

“I don’t know all the details,” he added. “I try not to ask him, because I feel like that’s an incredibly traumatizing event that I would not anyone that I know to go through. I think Coach (Kyle) Shanahan and (GM) John (Lynch) did a great job of just reaffirming to everybody to just let Ricky know that we’re here for him if he needs anything from us and to take his time.”

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Pearsall will have that opportunity, San Francisco’s first-round draft pick set to miss the start of the season after landing on the reserve/non-football injury list.

“(W)e felt the number one thing we had to be concerned with was Ricky’s well-being physically, emotionally, mentally, and ultimately decided that the best thing for Ricky was to have a little bit of time,” Lynch said Monday.

“When we drafted Ricky, we did it for the long term. And Ricky is going to be a fantastic player here. He’s eager. He was disappointed but understood that we put him on that list and what that entails. It’s four weeks, at least. We’re just going to take this as it comes.”

Yet Pearsall, who’d battled a shoulder issue during training camp, has returned to the club’s facility to see his teammates and is already having a positive on-field effect for the 2024 49ers.

‘I felt more compelled to come back after that than anything,” All-Pro left tackle Trent Williams said Tuesday, when he ended his holdout and signed a revised contract extension – the club’s last major piece of football business after wideout Brandon Aiyuk landed his own four-year extension Thursday.

“In my mind, I just wanted to get back, get around the team.”

The 36-year-old Williams said he was drawn to Pearsall, who is 12 years younger, during a brief appearance at offseason OTAs and wanted to be present for his recovery.

‘Ricky stood out to me,’ said Williams. “He did go out of his way to come and introduce himself to me.

“I just instantly felt his vibe and could just feel he’s such a genuine person. … I wanted to be around for that.’

The affection for an unproven newcomer by a veteran team seeking its third Super Bowl berth in six seasons and in pursuit of a record-tying sixth Lombardi Trophy already seems to be common in the locker room.

“I’ve never worked with someone who’s had to go through something like that, so we’re just all here for him,” said Kittle. “And I know that’s gonna take some time for him to process. But we’re clearly thankful he’s OK.’

The 49ers open their season at home against the New York Jets on Monday night.

***

Follow USA TODAY Sports’ Nate Davis on X, formerly Twitter, @ByNateDavis.

This post appeared first on USA TODAY

Caitlin Simmers, the No. 1 seed in the World Surf League finals scheduled Friday, recently learned she can make history.

At 18, she’s poised to become the youngest surfer to win a world championship.

With a victory at Lower Trestles in San Clemente, California, Simmers would pry the record from Carissa Moore, a five-time champion and Olympic gold medalist.

“Yeah, it’s crazy,’’ Simmers told USA TODAY Sports. “I didn’t even know that until the other day.

“She is one of the best of all time, so to beat her (record) would be pretty amazing.’’

Moore was 18 years, 10 months and 18 days old when she won the Association of Surfing Professionals women’s title in 2011.

Simmers would be 18 years, 10 months and 12 days old if she wins the one-day finals Friday. The competition window extends to Sept. 14 in case conditions lead to delays.

In addition to being the youngest, Simmers will be the smallest of the five surfers who qualified. She’s generously listed at 5-3 and 113 pounds.

“The first year or two on tour, she had a tough little start in Hawaii in the big ocean water,’’ said Simmers’ coach, Tommy Whitaker. “She loves it, but still she’s just such a tiny frame that it was really hard to get some scores.

“But she adapted beautifully.’’

At the WSL finals, Simmers could end up going head-to-head with fellow American Caroline Marks, the No. 2 seed who won a gold medal at the Paris Games and the 2023 WSL finals. The other surfers rounding out ‘the final five” are No. 3 seed Brisa Hennessy of Costa Rica; No. 4 seed Molly Picklum of Australia; and No. 5 seed Tatiana Weston-Webb of Brazil, who won silver at the Paris Olympics.

The winner will receive $200,000, while $100,000 will be awarded for second place, $75,000 for third, $60,000 for fourth and $40,000 for fifth.

The WSL finals is a single-elimination format of head-to-head heats. The No. 4 seed surfs against the No. 5 seed. The winner advances and surfs against the No. 3 seed. The winner advances and surfs against the No. 2 seed. And that winner advances and surfs against the No. 1 seed. The winner will be determined in the final round by the best-of-three heats.

Caitlin Simmers weighed her options

At 16, Simmers qualified to compete against the world’s best surfers on the WSL Championship Tour.

She opted out, choosing to stay at home with her family. A year later, she faced scrutiny, according to her coach.

“You’re expected to come out now and show that that was worth it,’’ Whitaker said of Simmers’ delaying the start of her pro career.

During her first event, she finished ninth among 18 surfers.

Two events later, she won. And won again later in her rookie season that included a second-place finish, third-place finish and fourth-place finish in the WSL finals.

“I did not regret the decision a single bit,’’ she said of staying home in 2022. “I think it gave me another year to grow without the tour and just grow as a person rather than just a competitor. … I’m really young, so I have a long way to go in life. So I’m just pacing myself.’’

Her pace accelerated.

This season, Simmers has won three of the nine events. No other surfer has won more than one on the Championship Tour, which includes 17 full-time members and one event wildcard.

“I’ve seen the most growth (with Simmers) knowing that it’s more the process and enjoying the journey than wins or losses,’’ Whitaker said.

For example, Weston-Webb trounced Simmers in the third round at the Olympics. Weston-Webb had a score of 12.34 and Simmers had a score of 1.93.

“You’re working with one of the most unpredictable things in the world, which is the ocean,’’ Simmers reasoned. “And you really can’t tell her what to do. …

“I know that I can surf good and I know that I have the ability to win this contest (the WSL finals) and I feel like I’m ready.’’

Caitlin Simmers’ mental preparation for the finals

Her friends will still be there for her. Her mom will still take care of her. There will be bike rides, hanging out and yoga.

Simmers said these are things she reminds herself of as she tries to prepare for the finals without succumbing to pressure or expectations.

“Keeping it all in perspective and knowing that it won’t change the course of the earth if I win a world (title) or not,’’ said Simmers, who grew up in Oceanside, about 20 minutes from the finals site. “But also knowing that it’s my goal and it’s what I’ve been working for the last few years and definitely that doesn’t mean I don’t want it.

“It’s just putting it into perspective and not getting too caught up in it.’’

Whitaker said it’s something they talk about on a regular basis.

“She’s such a beautiful surfer, such a beautiful person,’’ he said. “But her whole life isn’t just sort of strictly surf, eat, surf, train, surf. So a very big, important part of her journey as a professional athlete is to keep her life and surfing part of her life, but not everything of her life.

“She wants to keep loving it and doing it her way.’’

Follow Josh Peter on social media @joshlpeter11

This post appeared first on USA TODAY

Nick Saban nailed his performance in Vrbo’s hit ad, but barking at children in one scene caused him a bit of angst.
Vrbo’s commercial ‘creates a splash,’ and advertising experts say Nick Saban crushed it.
Nick Saban’s rapport with director results in ‘Daddy time in the tub.’

Saban showed some warm and fuzzy on set while starring in Vrbo’s recent advertisement campaign geared at the college football season.

Vrbo’s creatives and ad agency partner, Anomaly, thought Saban would perfectly portray the type of “gruff old grizzly bear” host whom guests staying at Vrbo’s competition might encounter. Unlike short-term rental competitor Airbnb, Vrbo does not include properties where guests stay with hosts.

Saban, the former Alabama coach, uncorked several zingers while portraying a cantankerous host.

Saban, though, also revealed his soft spot after one scene called for him to crack down on two child guests at his house.

“How’d you guys get inside?!” Saban barks in the commercial, while the kids rush from the room.

Saban was willing to take on any idea in the commercial, but this particular scene caused him angst.

“It was really hurting him to have to be mean to these kids,” said Kevin Tenglin, vice president of creative at Expedia Group, which owns Vrbo, “and in between takes, he would check in with them and be like, ‘Now, you know, I am just acting.’”

Saban gave a sublime performance.  

“This is an ad that creates a splash,” said Joe Favorito, a Columbia University professor whose expertise includes strategic communications and marketing.

Vrbo’s hit commercial shows Nick Saban ‘being himself’

Saban embraced a fun new chapter after his January retirement announcement ended his legendary career as a hard-nosed coach who redefined excellence. Vrbo’s ad became the latest sign of Saban’s pivot.

He’s also an “ESPN College GameDay” analyst. That role positions him next to Pat McAfee, ESPN’s provocative gasbag. While a shirtless McAfee hugged Saban last Saturday at the conclusion of “GameDay,” Saban beamed and exclaimed, “This is so much fun!”

Nothing glum about Saban’s retirement. He welcomed new thrills.

“He’s doing things he wants to do right now and showing people parts of his personality that he’s choosing to show, which are incredibly valuable,” Favorito said, “especially to brands that are around the college space.”

Of course, most fans know Saban foremost as the disciplinarian who won seven national championships. That made him perfect for the role of nightmarish rental host.

“I feel like the best use of celebrity or sports talent is when they don’t really have to act, and you can tell that he’s not really even acting in this spot,” Tenglin told USA TODAY Sports. “He’s just kind of being himself.”

Nick Saban’s rapport with director results in ‘Daddy time in the tub’

The commercial, filmed in Malibu, California, begins with Saban sipping coffee on the porch when guests arrive.

“Check-in time is 3,” Saban says.

A guest tells Saban it’s 2:55.

“I know,” Saban replies, without a hint of a smile. He continues staring at the guests while wearing a straw hat with Alabama’s “Script A” logo.

This scene ranks as Tenglin’s favorite.

“Every time I watch it, it gets me,” he said.

Later, while Saban explains the strict house rules, he unleashes another gem.

“There’s a great barbecue outside,” he tells the guests, before delivering the kicker, “But don’t touch that.”

Saban and director Wayne McClammy developed “a great rapport,” Tenglin said, which allowed for improvised ingenuity.

The chef’s kiss occurs while Saban sits in the hot tub with two guests. He tells them they have 10 minutes left to enjoy the water, because it’s, “Daddy time in the tub.”

“That’s one of the lines that made it through from (collaborating) with our director,” Tenglin said. “It was not on paper. It was not on the scripted version.”

The ad received “universally positive” reception, Tenglin said.

Even fans of Alabama’s rivals offered a thumbs-up.

Nick Saban goes from ‘villain’ at Alabama to Vrbo’s star endorser

Tenglin attended Michigan. As a Wolverines fan, he considered Saban “a villain.”

Saban went 4-4 against Michigan in his coaching career, dating to his tenure at Michigan State. Michigan ended his career in January by beating Alabama in overtime of the Rose Bowl.

“He’s handed us some of our toughest losses, going back to when he was at MSU,” Tenglin said. “But, after hearing the stories that our team came back with, it’s hard not to love this man. From what I understand, he was so kind.”

The ad campaign, and Saban’s performance, also impressed Angeline Scheinbaum, an expert Clemson professor who earned degrees from Georgia, Alabama’s SEC rival.

By using a celebrity coach in a campaign, Scheinbaum said, a company risks rankling rival fans.

This ad walks that line and sticks the landing with audience.

“It’s going to be well-received,” said Scheinbaum, Clemson’s Dan Duncan endowed professor of sports marketing.

Saban brings special value as an endorser because he’s a winner with a “reputation for trustworthiness,” Scheinbaum said.

“Multiple dimensions are important (when using a famous endorser), and, of those, trust is the most important that our research found,” Scheinbaum said.

Viewers won’t only trust Saban. They’ll grasp Vrbo’s message.

“They’re showing that with this particular brand or company, you’re not going to have to think about sharing the space,” Scheinbaum said. “It’s yours. That’s a very appealing message.”

It’s especially appealing to guests who don’t want a host barking at their kids or hogging “Daddy time in the tub.”

Blake Toppmeyer is the USA TODAY Network’s SEC Columnist. Email him at BToppmeyer@gannett.com and follow him on Twitter @btoppmeyer.

Subscribe to read all of his columns. Also, check out his podcast, SEC Football Unfilteredand newsletter, SEC Unfiltered.

This post appeared first on USA TODAY

President Biden’s Department of Justice (DOJ) announced new efforts to crack down on Russian election interference on Wednesday, but Republicans say they are ‘skeptical’ of the new moves so close to the November election. 

‘We’ve seen this before. In 2016, the same people pushed the Russia hoax and we now know it was totally bogus. Now, it may be true this time, but I am extremely skeptical,’ House Judiciary Chairman Jim Jordan, R-Ohio, told Fox News Digital. 

The DOJ on Wednesday announced it is seizing 32 websites it says were linked to the Russian government and used to spread disinformation. The Justice, State and Treasury departments also indicted a pair of employees at Russian state-controlled outlet RT. 

The indictment claimed that RT, in a $10 million scheme, had duped US-based influencers into sharing content ‘deemed favorable to the Russian government’ through a Tennessee-based company believed to be Tenet Media. 

The DOJ accused RT of ‘conspiring to commit money laundering and to violate the Foreign Agents Registration Act.’

The content was designed to amplify ‘U.S. domestic divisions in order to weaken U.S. opposition to core Russian interests, particularly its ongoing war in Ukraine.’ 

Stephen Miller, a longtime Trump advisor, wrote on X: ‘The biggest election interference in American History is the DOJ’s weaponization of the security state — surveillance, fake intelligence, sham indictments, raids, mass censorship, importing illegal voters — to target President Trump, his aides and supporters. Third world tyranny.’

‘Russian interference again says the Democrat’s DOJ,’ Rep. Marjorie Taylor Greene, R-Ga., wrote on X. ‘We would hate for Russian influence to convince Americans that the Democrats and Kamala Harris caused all this crippling inflation, wide open deadly border invasion by tens of millions of illegal migrants, and funded senseless foreign wars and cause Americans to vote for Trump!!’

Attorney General Merrick Garland pushed back on the skepticism and 2016 parallels: ‘This is deadly serious, and we are going to treat it accordingly.’

When asked by Fox News Digital about its reaction to the allegations, RT said, ‘We certainly have a reaction. Actually, we had several, but we couldn’t decide on one (we even thought of running an office poll), so here they are.’ 

‘2016 called and it wants its clichés back,’ was among them, as were: ‘Three things are certain in life: death, taxes and RT’s interference in the U.S. elections,’ ‘We gotta earn our Kremlin paycheck somehow,’ and ‘Somewhere Secretary Clinton is sad that it’s not because of her.’ 

The indictments included several internal propaganda project proposals put together by the Kremlin. The proposals aimed at sowing racial discord and the threat of ‘widespread poverty’ due to inflation.

According to project ‘Good Old USA,’ they increase the belief that the U.S. ‘has been doing way too much to support Ukraine’ to 51 percent, up from 41 percent in a November Gallup poll.

Under their ‘targeted audiences’ section, the project said it would focus its efforts on U.S. citizens of Hispanic descent, American Jews, American gamers and Reddit users and residents of swing states. 

‘The Guerilla Media Campaign’ said that it was not aimed at justifying Russia as no American politicians could be classified as ‘pro-Putin,’ but rather on bolstering beliefs that the policies of ‘Candidate B,’ believed to be Biden, are ‘encroaching on their rights.’ 

The Russians deemed Republicans to be ‘advancing a relatively pro-Russian agenda.’

It directed surrogates to hone in on spreading content about ‘record inflation,’ ‘risk of job loss for White Americans,’ ‘privileges for people of color, perverts and the disabled,’ ‘threat of crime from people of color and immigrants (including new immigrants from Ukraine),’ and ‘overspending on foreign policy at the expense of interests of white US citizens.’ 

It also aimed to spread the message: ‘We are being drawn into war. Our guys will die in Ukraine.’ It called for a ‘minimum of fake news and a maximum of realistic information.’ 

Fox News’ Greg Norman contributed to this report.

This post appeared first on FOX NEWS

In this exclusive StockCharts TV video, Joe shares how he identifies and trades a reversal pattern. Highlighting what causes him to focus in on a stock, he shares the 1-2-3 reversal pattern, along with the keys in MACD and ADX that allow you to improve the risk/reward equation in your trade. Joe also answers a viewer’s question on how rotation takes place. Finally, he goes through the symbol requests that came through this week, including MCD, NVDA, and more.

This video was originally published on September 4, 2024. Click this link to watch on StockCharts TV.

Archived videos from Joe 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.

It’s been described as the most important company in the world at the moment.

But new concerns surrounding Nvidia, the chipmaker powering the artificial intelligence revolution — and which this summer became America’s second-largest public company, behind Apple, when its valuation surpassed $3 trillion — have prompted a fresh global market sell-off.  

On Tuesday, Nvidia shares dropped 9.5%, erasing $278.9 billion from the company’s value — the biggest such single-day loss ever for a U.S. stock.

A host of factors appear to have helped drive the sell-off, which also sparked losses in broader market indexes like the Nasdaq Composite and Dow Jones Industrial Average.

Nvidia’s stock has become a bellwether for the global economy as a whole, as it has helped drive a boom in investment from large tech companies that have looked to AI to drive new innovation — and profit.

On Wednesday, its share price declined another 1.7%. Its overall market capitalization — the value of the company based on its shares — remains around $2.6 trillion.

“The surge in NVIDIA’s earnings comes from the massive investment in AI being done by the other big tech companies,” Dario Perkins, managing director at TS Lombard financial group, wrote in a commentary this week. 

“This creates a circular dynamic that leaves NVIDIA (and now the US stock market in general) dependent on continued big AI investments.” If the five-largest publicly traded companies, like Amazon and Microsoft, stop investing in Nvidia, Perkins said, “we could have a problem.”

Nvidia was once known for making graphics cards for computer games. But in a somewhat fortuitous twist, these cards happen to be perfect for handling the computing load AI requires to perform its tasks. 

As a result, Microsoft and Facebook-parent Meta both now spend more than 40% of their budgets for hardware on Nvidia gear.

Nvidia is now so closely followed that a group of market watchers held a meetup at a bar last month to watch the company report its quarterly earnings — though some later viewed the event itself as a sell signal.

“Nvidia has changed the tech and global landscape as its [graphics processing units] have become the new oil and gold in the IT landscape, with its chips powering the AI revolution and being the only game in town for now,” Wedbush Securities analyst Dan Ives wrote in a recent note.

But growing fears of a broader economic slowdown, as well as renewed skepticism about the timetable for a payoff from AI — basically, how soon all the current investment flowing into it will ultimately lead to well-defined use cases and greater profitability have helped drag Nvidia’s stock price down. 

“I don’t think AI will measure up to the internet in my opinion,” Daron Acemoglu, an economist with the Massachusetts Institute of Technology, said in an interview with the Financial Times this week, calling the technology “a few-trick pony.”

“AI has some great capabilities, but it does not have the same breadth of impacting pretty much everything we do and creating lots of new things yet,” Acemoglu said. “It might, but when it does, perhaps we’ll call that a new technology, perhaps that will be another 10 years, and so on.”

The skepticism has coincided with fresh economic warning signals. In the U.S., the labor market has begun to show unmistakable signs of weakness following the jobs boom that accompanied a broader economic recovery from the Covid pandemic. In China, problems in the housing sector have begun to weigh on consumption. Oil prices, which tend to track global economic activity, have fallen to their lowest levels in three years.

Meanwhile, a pair of new reports this week cast fresh doubt about when AI investments will pay off.   

“Investors are debating whether future revenues for top tech and cloud computing firms could justify billions of dollars of capital spending being poured into artificial intelligence (AI),” analysts with BlackRock Investment Institute wrote. 

A similar note of caution was sounded in commentary from JP Morgan Asset management, which said that companies would have to start to meaningfully shift emphasis from “training” to “production” for “adequate returns on AI infrastructure to materialize.”  

Complicating matters further was a report Tuesday from Bloomberg News that the Justice Department had begun looking into antitrust issues surrounding Nvidia, which is estimated to maintain at least 90% market share in AI chips for the next two years.

Another factor: Intel, once the dominant force in U.S. computer chips, has seen its share price decline 54% this year and, according to a Reuters report, is now in danger of being delisted from the Dow Jones Industrial Average. While investors have punished Intel for failing to adequately take advantage of the AI boom, it is likely that broader concerns about its payoff added to its losses.   

Steve Sosnick, chief strategist at Interactive Brokers financial group, told NBC News in an email that, even as it has powered higher, Nvidia remains one of the most volatile stocks on the market, meaning its price is subject to large changes, both higher and lower.

“So investors who believe in the company had better get used to the swings,” Sosnick wrote. “Investors love volatility on the way up (aka ‘socially acceptable volatility’) but hate it on the way down. Unfortunately, one usually brings the other.”

Tuesday’s sell-off is far from a death-blow for Nvidia’s stock price, which has more than doubled in 2024, to about $109. The tech-heavy Nasdaq index, too, remains 16% higher on the year, and since 2023 has climbed by nearly two-thirds.

Sosnick says much of the selling of Nvidia’s stock, which trades as NVDA, may ultimately have to do with investment managers making sure they cement the outsized price increase the company’s shares have already seen this year.

“I believe that while individual investors remain understandably enamored with NVDA — heck, many of them made a lot of money — I believe that institutional investors are taking a more sober view, focusing on locking in gains in the back half of the year, and that is pressuring the stock,” Sosnick said. “They understand that no one ever went broke taking a profit.”

This post appeared first on NBC NEWS

The San Francisco Giants, believing that All-Star third baseman Matt Chapman would opt out of his contract after this season and become a free agent again, made sure he’s not going anywhere by signing him Wednesday night to a six-year, $151 million contract extension.

The deal also includes a complete no-trade clause and there will be no opt-outs, according to a person with direct knowledge of the contract told USA TODAY Sports. The person spoke on the condition of anonymity since the Giants have yet to acknowledge the contract details.

A news conference is scheduled Thursday at 1:30 p.m. ET.

The contract will pay Chapman $25 million each year through 2030 including a $1 million buyout.

Chapman, a free agent last winter, did not sign until March 3 in spring training when he received a three-year, $54 million contract that included two option years.

All things Giants: Latest San Francisco Giants news, schedule, roster, stats, injury updates and more.

Chapman, 31, has been the Giants’ finest all-around player this season, leading the team with 22 homers, 69 RBI, 90 runs, 33 doubles and 126 hits. The four-time Gold Glove winner also leads all third basemen with 13 defensive runs saved.

Chapman is one of just two third baseman in franchise history to provide at least 30 doubles, 20 homers and 10 stolen bases in a single season, last accomplished by Freddie Lindstrom in 1930.

While Chapman’s production isn’t enough to lead the Giants (68-72) to the postseason, he made it clear that he wanted to finish the rest of his career in a Giants’ uniform, and the Giants said the feeling was mutual, officially agreeing on the deal at about 6:30 p.m. on Wednesday.

Now that Chapman is signed, Alex Bregman of the Houston Astros is widely considered the best third baseman on the free agent market this winter.

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Caitlin Clark and the Indiana Fever continued their post-Olympics tear Wednesday, as a triple-double from Clark helped Indiana to a 93-86 win over the Los Angeles Sparks. It is the Fever’s fifth win in a row and ninth in the past 11 games.

The favorite to win WNBA Rookie of the Year, Clark on Wednesday was named was named the WNBA Eastern Conference player of the month and rookie of the month for August. Earlier in the week she’d been named Eastern Conference player of the week, too. Clark looked every bit of those labels Wednesday, turning in another terrific stat line with 24 points, 10 assists and 10 rebounds. She also grabbed three steals (she recorded seven turnovers as well). Clark has been playing especially well since WNBA play resumed after the Paris Olympics.

Clark is the only WNBA rookie to record a triple-double in league history, and now she has two of them. She also had one on July 6 in an upset win over the New York Liberty.

The highlight of the game came in the third quarter, when Clark drove and flicked a nifty behind the back pass to Aliyah Boston, who fired a pass to Erica Wheeler on the perimeter before Wheeler drained a 3 to give Indiana a 66-61 lead. 

Boston finished with 24 points and 14 rebounds, while Kelsey Mitchell chipped in 18. The victory over L.A. helps the Fever get a tighter grip on sixth place; they clinched a spot in the playoffs Tuesday night. Clark said pregame Wednesday that she came to Indiana ‘with the expectation that this (going to the playoffs) is what’s going to happen.’

‘This isn’t a party,’ Clark said. ‘I’m not just happy to be in the playoffs. I think we have the type of team that can win and advance.’

Wednesday night kicked off a six-game home stand for Indiana, which opened the 2024 season with a brutally tough schedule. The Fever next host the Minnesota Lynx on Friday.

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