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As calls for President Biden to drop out of the 2024 presidential race increase in the wake of last week’s presidential debate, Michigan Gov. Gretchen Whitmer may be a top pick to replace him on the ticket, despite denying involvement in a ‘Draft Gretch’ shadow campaign. But her chances against former President Donald Trump in November would be an uphill battle, according to one expert.

‘She’s doing the right thing in terms of denying that she’s interested because she can’t appear to be disloyal,’ said Tevi Troy, a former White House aide and deputy secretary of Health and Human Services under the Bush administration, in an interview with Fox News Digital.

‘I had a politician friend of mine describe this to me as the Cinderella at the ball scenario. Everyone knows that the clock is running out and that at midnight everything changes, but at the same time, the prince is handsome, and the champagne is flowing, so you’re enjoying the dancing. But the smart people are kind of eyeing the door and making sure they’re positioned at the door while they’re dancing around midnight.’

Whitmer, who won re-election in 2022 by a double-digit margin, has previously hinted at interest in a presidential run and has reportedly vaulted to the top of the list in terms of donor preference in recent weeks.

Online supporters have been pushing a ‘Draft Gretch’ message, and Politico reported after the debate that Whitmer spoke with Democratic Party leadership and disavowed that movement while disagreeing with reports that said she warned Biden has no chance of winning Michigan, calling it ‘total bulls—.’

‘I am proud to support Joe Biden as our nominee and I am behind him 100 percent in the fight to defeat Donald Trump,’ Whitmer said in a statement on Monday. ‘Not only do I believe Joe can win Michigan, I know he can because he’s got the receipts.’

Her weakness, however, is that Whitmer is not particularly well-known among the average American as someone of prominence.

‘She’s a popular governor in a swing state,’ said Troy, who is also a senior fellow at the Bipartisan Policy Center. ‘So, she’s got a lot of positive qualities, but at the same time, she’s not truly vetted, and most of these people who could potentially face Trump or replace Biden are not fully vetted.’

Whitmer drew attention for her ‘heavy-handed’ restrictions during the COVID-19 pandemic in her state, and she has also signed pro-LGBTQ+ legislation through implementing the state’s first LGBTQ+ Commission last year. She also repealed several of the state’s abortion restrictions, enshrining the right to the procedure in the state’s constitution.

‘I think the biggest weakness is not any of the weaknesses we know but what we don’t know,’ Troy said. 

That could change after the release of Whitmer’s book, ‘True Gretch,’ next week.

Biden’s lackluster debate performance has also put the spotlight on Vice President Harris, who has started to show off a more visible campaign role as November approaches.

Harris suddenly figures to play a defining role in the campaign, a turnaround for a vice president who many critics have panned as a potential liability for Democrats in November.

Fox News Digital’s Andrew Mark Miller and Michael Lee contributed to this report.

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The congressman whose district is less than 100 miles from Cuba sounded the alarm after a bombshell investigation revealed several images of advanced spy bases in the communist nation.

Rep. Carlos Gimenez, R-Fla., said in a Wednesday interview there is no doubt China has a big hand in the construction and operation of the bases.

Gimenez elaborated after the bipartisan Center for Strategic and International Studies (CSIS) released the imagery while noting China’s official activity there ‘remain[s] shrouded in secrecy.’

Gimenez voiced counterintelligence concerns, noting his district alone houses the Key West Naval Air Station, Homestead Air Force Base and is within a mile of the U.S. Southern Command (SOUTHCOM).

‘[This] is an example of the growing influence of China and Russia in our hemisphere,’ Gimenez said.

‘The Biden administration continues to placate our enemies in the hemisphere instead of trying to do what they can to get [nonviolent] regime change,’ he said.

Rep. Maria Elvira Salazar, R-Fla., attributed Biden’s ‘weakness’ to the proliferation of CCP influence offshore.

‘America must respond with strength and tell the Cuban regime that we will not allow them to restart this new Cold War right on our doorstep,’ Salazar said.

One or more of the sites mapped out by CSIS, Gimenez said, are less than 100 miles from his district. He said it is like having a spy base surveilling Miami from as close as the other end of Alligator Alley in Naples.

He slammed the White House for continuing Obama-era diplomatic ‘opening’ toward Cuba’s totalitarian regime.

However, Gimenez added that some Democrats, particularly in Florida, are equally concerned about China’s malign influence in Cuba and the Diaz-Canel regime itself, naming Reps. Deborah Wasserman Schultz, Jared Moskowitz and Frederica Wilson.

He warned the Chinese could use the Cuban bases to observe offshore U.S. military training and simulation exercises. That would give China an inside look at how the U.S. would respond to an invasion of Taiwan, he said.

CSIS’ Hidden Reach researchers Matthew Funaiole, Aidan Powers-Riggs, Brian Hart, Henry Ziemer, Joseph Bermudez Jr., Ryan Berg and Christopher Hernandez-Roy warned of the proximity between the bases and the numerous sensitive U.S. installations in Florida and the southeast in their report.

The researchers on Monday revealed four sites believed to be supporting Chinese efforts to spy on the U.S. using signals intelligence (SIGINT). CSIS defines SIGINT as a ‘core’ aspect of spycraft and a venue through which civilian and military entities can intercept others’ transmissions.

A top national security expert said China is expanding into places like Cuba to interfere in America’s sphere of influence.

‘Communist China’s latest actions are unprecedented and to-date the Biden administration has made no response. It will fall to the next president to stand up for the security of the American people in our own hemisphere,’ former Deputy National Security Adviser Victoria Coates said.

Coates said China is also simultaneously interceding in America’s backyard through its new Bahamian embassy in Nassau and a Peruvian deepwater ‘mega-port.’

Gimenez, who is the only Cuban-born congressman, said he holds out hope the island rids itself of Chinese and Russian influence.

When asked how long it might take to see real change in Havana, Gimenez pointed to the 1989 fall of the Berlin Wall and how Germany quickly returned to a democracy.

If former President Trump returns to the White House in 2025, he said, the Republican’s past overtures toward the Cuba situation show change could be possible within his next term.

In turn, he faulted the Biden administration for repeatedly acting ‘counter to American interests.’

‘This secretary of state is the worst secretary of state that we’ve had in American history. I think he’s done more damage in four years than just about anybody else that I can remember,’ he said.

The State Department did not directly address Gimenez’ criticism of Blinken, but it cited remarks from spokesperson Vedant Patel on the bases themselves.

‘I’m not going to comment on or confirm or get into the specifics of that report, but what I can say is that we remain confident that the United States is going to be able to meet our security commitments at home and in the region,’ Patel said Tuesday.

‘PRC activities in Cuba have been going on for decades, and … we know that the PRC is going to keep trying to enhance its presence in Cuba and the United States is going to keep working to disrupt it.’

Sen. Roger Marshall, R-Kan., a member of the Homeland Security Committee, echoed concerns over the White House’s handling of the China threat when asked about the photos.

‘[China] will continue to expand their espionage of the United States without fear of consequence because they know Joe Biden will not hold them accountable,’ Marshall said.

‘Not only are they using Cuba to house Chinese ‘spy bases,’ they are sending in Chinese nationals through our southern border, shipping over lethal fentanyl, stealing our intellectual property, and purchasing land near our military bases.’

The office of Director of National Intelligence Avril Haines declined comment. The White House also did not respond.

Several Democrat lawmakers also did not respond to requests for comment.

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A public moment last month when President Biden appeared temporarily unable to say the name of Homeland Security Secretary Alejandro Mayorkas reportedly left allies alarmed and ‘shaken up.’

The incident took place on June 18 at an event celebrating the anniversary of the 2012 Deferred Action for Childhood Arrivals program, which protected some illegal immigrants from deportation.

As he spoke, Biden introduced Mayorkas, who has served in a high-profile role since 2021 and has been the main official dealing with the ongoing crisis at the southern border.

‘Thanks to all the members of the Congress and Homeland Security Secretary,’ he said, pausing. ‘I…I’m not sure I’m going to introduce you all the way.’ 

He then added, ‘But all kidding aside, Secretary Mayorkas.’

The New York Times reported this week that two people with a clear view of Biden, who has fought a stutter throughout his life, said that his soft-spoken mumbling and fumbling over words left some concerned.

The Times reported that President Biden’s tone and the struggle to name Mayorkas led to allies trading ‘alarmed looks’ and later describing themselves as ‘shaken up.’ However, another person said they hoped it was a ‘one-off’ bad moment for Biden.

The report comes amid broader concerns about Biden’s mental acuity that have been bubbling for years, but they boiled over at last week’s presidential debate, where Biden was widely seen to have performed poorly.

It has sparked calls from some Democrats and some liberal media outlets that the president should drop out of the 2024 election. 

The Times’ Editorial Board penned an op-ed last week titled ‘To Serve His Country, President Biden Should Leave the Race.’

However, the White House and the Biden campaign have repeatedly dismissed those questions about his health.

‘Does President Biden, at 81 years old, have Alzheimer’s, any form of dementia or degenerative illness that cause these sorts of lapses? And it’s a yes or no question,’ a reporter asked White House press secretary Karine Jean-Pierre on Tuesday afternoon.

‘Are you ready for it? It’s a no. And I hope you’re asking the other guy the same exact question,’ Jean-Pierre responded, referring to former President Trump.

Biden himself addressed his poor debate performance last week at a rally in Raleigh, North Carolina.

‘Folks, I know I’m not a young man. But I know how to do this job. I know right from wrong. I know how to tell the truth,’ Biden said. ‘And I know, like millions of Americans know, when you get knocked down, you get back up.’

Fox News’ Paul Steinhauser and Emma Colton contributed to this report.

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The Trump campaign slammed the White House and the Biden campaign for calling former President Donald Trump’s mental acuity into question.

‘Never in history has a debate resulted in a candidate’s own donors and surrogates pondering whether their candidate should stay in the race, until now,’ Trump campaign press secretary Karoline Leavitt told Fox News Digital.

The comment comes after the White House and Biden campaign questioned former President Trump’s fitness to serve, a response to questions that continue to swirl around President Biden’s mental acuity.

Asked during a news conference Tuesday if Biden had Alzheimer’s or any form of dementia, White House press secretary Karine Jean-Pierre said ‘no’ while hinting that the ‘same exact question’ should be asked of the ‘other guy,’ referring to Trump.

Biden continues to face widespread skepticism about his ability to win the election and serve another term as president in the wake of a disastrous debate performance last week, resulting in many calling on the president to step aside and let a younger candidate take over at the top of the ticket.

The Biden campaign has acknowledged the president’s poor performance but pushed back against the idea he would drop out of the race, arguing Biden still has the ability to lead and is the party’s best chance at defeating Trump.

The campaign has also begun calling Trump’s cognitive ability into question, citing times the former president has confused who he was talking about.

‘Donald Trump is unhinged and out-of-control, determined to make this country a dictatorship and punish his enemies with new powers handed to him by the Supreme Court – while also confusing Joe Biden for Barack Obama, Nikki Haley for Nancy Pelosi, and routinely ranting and raving about nonsense like sharks and windmills,’ a campaign spokesperson told Fox News Digital.

But the Trump campaign pushed back hard against the suggestion Wednesday, with Leavitt telling Fox News Digital that Trump ‘undeniably dominated Joe Biden in the debate and held him accountable for his failure, weakness, and dishonesty.’

‘While it’s been another bad week for Biden, it’s been a terrible three and a half years for the nation,’ Leavitt said. ‘Inflation is crushing every family, Biden’s border invasion is bringing crime to every community, and weakness from the White House is encouraging chaos and war around the globe – and that is why President Trump continues to dominate Joe Biden in every poll. Americans feel the sharp contrast in their lives under President Trump and Biden.’

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Several top Democratic lawmakers expressed their anger over President Biden’s public denial and deflection about his rocky debate performance, according to a report Wednesday. 

Some Democratic members of Congress told Axios they want Senate Majority Leader Chuck Schumer, D-N.Y., and House Democratic Leader Hakeem Jeffries, D-N.Y., to privately encourage Biden to step aside. 

Multiple lawmakers reportedly told the outlet they are enraged Biden had slow-walked reaching out to Democratic leadership after the debate, much less the rank-and-file members in competitive races. Those members, who were not named in the report, said they fear the president could jeopardize Democrats’ chances of holding the Senate majority or regaining control of the House in November.   

‘I don’t know who’s making decisions,’ one House Democrat reportedly told Axios. ‘Why the hell isn’t Biden on the phone with congressional leadership?… Everybody now thinks he could cost us the majority.’

The White House said Biden spoke with Jeffries on Tuesday. 

Lauren Hitt, a Biden campaign spokesperson, told Axios the president ‘has spoken personally with multiple elected officials on the Hill and across the battlegrounds since the debate.’

According to the report, lawmakers privately are growing fearful Biden is consulting only family members or people on his payroll in determining whether he should stay in the race. As the president’s inner circle slims, the lawmakers told Axios they’re certain Biden’s family doesn’t want him exposed to outside criticism, even if it comes from friends. 

At a campaign fundraiser in McLean, Virginia, Tuesday night, Biden blamed his poor debate performance on his foreign travel in June, which included a visit to France to commemorate the 80th anniversary of D-Day, according to a print pool report with notes from a small group of journalists permitted to attend the private event. 

‘I decided to travel around the world a couple of times,’ Biden reportedly told a group of donors.

‘I didn’t listen to my staff,’ the president said, adding that he ‘came back and nearly fell asleep on stage.’

Biden rested for two days in Delaware and spent another six days preparing for the debate at Camp David in Maryland following his back-to-back trips to Europe, the New York Times reported. 

His debate preparation also never began before 11 a.m. and the president ‘was given time for an afternoon nap each day,’ the newspaper said. 

The White House claimed Biden ‘was working well before then, after exercising.’

Even Rep. Nancy Pelosi, D-Calif., a longtime Biden ally, admitted in an interview Tuesday on MSNBC’s ‘Andrea Mitchell Reports’ that it’s a ‘legitimate question’ to express concern about Biden’s debate performance. 

‘I think it’s a legitimate question to say, is this an episode, or is this a condition? And so when people ask that question, it’s completely legitimate – of both candidates,’ Pelosi said. ‘Both candidates owe whatever test you want to put them to, in terms of their mental acuity and their health – both of them.’ 

Biden also agreed to an interview Friday with George Stephanopoulos on ABC News. 

Axios reported that major Democratic donors are now planning to move large contributions instead to House and Senate candidates before what they see as a likely second term for former President Trump. 

Even Democrats who once accused Trump supporters of ‘gaslighting’ by expressing concerns about 81-year-old Biden’s age and mental fitness are reportedly fed up with Biden, more so over his downplaying and deflection in the debate’s aftermath, rather than over the debate itself. 

‘Strangely, we are getting to the point where it may not have been the debate that did him in, but the aftermath of how they’ve handled it,’ a top Democratic operative told Axios.

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President Biden is seriously considering whether he can continue on as the Democratic presidential nominee, according to a report.

The New York Times on Wednesday reported that Biden has told a ‘key ally’ that he knows he may not be able to win re-election if he cannot convince the American people he is fit to serve after his disastrous debate performance. 

‘The president, who the ally emphasized is still deeply in the fight for re-election, understands that his next few appearances heading into the holiday weekend — including an interview scheduled for Friday with George Stephanopoulos of ABC News and campaign stops in Pennsylvania and Wisconsin — must go well,’ the report said. 

‘He knows if he has two more events like that, we’re in a different place’ by the end of the weekend, the unnamed source told the Times. 

Another top adviser to the president reportedly said Biden was ‘well aware of the political challenge he faces.’ 

White House spokesman Andrew Bates disputed the report shortly after it was published.

‘That claim is absolutely false. If the New York Times had provided us with more than 7 minutes to comment, we would have told them so,’ he told Fox News Digital in a statement. 

Quentin Fulks, the principal deputy Biden campaign manager, likewise said on Wednesday the report was ‘false’ during an appearance on CNN.

‘There are a number of rumors floating out there. The president is in this race to win it. He is the Democratic nominee. And from our perspective, we are going to continue to do everything we can to make sure that we’re building a campaign apparatus, to reach voters,’ Fulks said. 

Biden, who at age 81 is the oldest president in the nation’s history, is facing the roughest stretch of his bid for a second term in the White House. 

His halting delivery and stumbling answers at the CNN Presidential Debate on Thursday sparked widespread panic in the Democratic Party and spurred calls from political pundits, editorial writers and party donors for Biden to step aside as the party’s 2024 standard-bearer. In the past 24 hours, a small but growing number of elected Democrats have also urged the president to end his re-election bid.

Biden will meet with Democratic governors at the White House on Wednesday, just days after Democratic Governors Association (DGA) Chair Gov. Tim Walz led a conference call with the DGA to discuss the fallout from the debate. 

A number of the governors, including some who have been speculated as potential replacements on the extreme long-shot chance that Biden would step away from his re-election bid, have acknowledged the president’s debate performance was shaky but remained committed to supporting the president.

A USA TODAY/Suffolk University poll released this week found that more than 4 in 10 Democrats said the Democratic Party should intervene and replace Biden as the nominee. Overall, 54% of the voters polled were in favor of Biden dropping out.

Fox News Digital’s Paul Steinhauser and Andrea Vacchiano contributed to this report.

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There are multiple letters circulating among House Democrats that would call for President Biden to step aside in the 2024 White House race, two sources familiar with those discussions told Fox News Digital.

Efforts have included both vulnerable Democrats in swing districts and left-wing lawmakers in safe seats, one of the sources said.

The letters are mainly being circulated at the member level right now, sources said, with lawmakers closely guarding the monumental decision they are weighing.

‘Everyone is guarded now,’ one senior House Democratic member told Fox News. ‘People may be just doing what they believe is best for them.’

It comes after Reuters first reported that a group of 25 House Democrats was preparing to call on Biden to step aside as the 2024 candidate if he does not buck concerns that he’s not up to the task within a matter of days.

House Democratic leaders have not seen that letter, Fox News is told.

Meanwhile, Bloomberg News was first to report on the effort by safe-seat Democrats on Wednesday.

The news emerges as more Democrats come forward to publicly express their concerns about the 81-year-old president’s fitness for office. Questions about his physical and mental condition were brought to the forefront during last Thursday’s debate between Biden and former President Trump.

Democrats are now questioning whether Biden is the best positioned candidate to beat Trump, who they largely view as a threat to democracy.

The dam broke on Tuesday afternoon when Rep. Lloyd Doggett, D-Texas, became the first sitting House Democrat to outright call for Biden to pull out of the race.

‘My decision to make these strong reservations public is not done lightly nor does it in any way diminish my respect for all that President Biden has achieved,’ Doggett said in a statement. ‘Recognizing that, unlike Trump, President Biden’s first commitment has always been to our country, not himself, I am hopeful that he will make the painful and difficult decision to withdraw. I respectfully call on him to do so.’

Hours later, Reps. Jared Golden, D-Maine, and Marie Gluesenkamp Perez, D-Wash. – two of the most vulnerable Democrats this election cycle – came out and said Biden would likely lose to Trump.

The Biden campaign told Fox News Digital in response to Democrats’ concerns, ‘He is absolutely not dropping out.’

Biden’s allies have pointed out over the last couple of days that he has been in contact with both Congressional Democratic leaders, and that he’s taken steps to alleviate concerns like agreeing to a sit-down interview with ABC News and announcing a press conference for the coming days

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In this edition of StockCharts TV‘s The Final Bar, available to watch below, Dave recaps a shortened trading session marked by strength in the technology sector, potential breakouts in gold stocks, and key levels to watch as the S&P 500 index makes a new closing high on seasonal market strength. He also breaks down the charts of SMH, GLD, TSLA, NEM, HUM and DASH.

See Dave’s chart showing daily advancers-decliners for the NYSE here.

This video originally premiered on July 3, 2024. Watch on our dedicated Final Bar page on StockCharts TV!

New episodes of The Final Bar premiere every weekday afternoon. You can view all previously recorded episodes at this link.

On this week’s edition of Stock Talk with Joe Rabil, Joe uses a chart of AAPL to demonstrate how properly using a MACD and ADX indicator combo increases your chances of success. He analyzes 10-Year Yields, Bitcoin, Tesla, Datadog, and ServiceNow. Going through all the sectors, Joe explains how the RS line is showing only two sectors outperforming the SPX so far this year. Joe dives into the technology sector and shows how to use ACP to identify specific stocks looking attractive inside a strong industry group.

This video was originally published on July 3, 2024. Click this link to watch 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.

David Ellison’s Skydance has reached a preliminary deal with Shari Redstone’s National Amusements to merge with Paramount, according to two people familiar with the matter, resurrecting a deal which failed just weeks earlier.

Controlling shareholder National Amusements has referred the deal to the Paramount special committee, according to people familiar with the matter. Paramount’s special committee is currently reviewing and voting on the deal, according to a person familiar with the matter. A spokesperson for Paramount declined to comment.

Paramount shares surged as much as 9% on the news.

The resurrected deal will see Redstone receive a reduced consideration of $1.75 billion, according to a person familiar with the matter. The other financial terms of the deal, which CNBC previously reported, will remain unchanged: Skydance will acquire roughly half of Paramount’s controlling shares at $15 per share, for $4.5 billion, and contribute $1.5 billion towards Paramount’s balance sheet.

Redstone killed the initial bid in June as it was near the finish line. One of Redstone’s reasons was feeling as though Skydance had retraded the deal by asking her to take hundreds of millions of dollars less than the previously agreed to payment, according to one of the people.

The winding deal process had already led to the departure of CEO Bob Bakish earlier this year, leaving in place a three-headed office of the CEO to run the company. Other interested bids included a joint effort from private equity firm Apollo and Sony, as well as a recent entreaty from Barry Diller, chairman of media conglomerate IAC as well as a former Paramount executive.

The preliminary agreement was first reported by The New York Times and the Wall Street Journal.

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