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Turkish President Recep Tayyip Erdogan reportedly defended Hamas on Monday, claiming that more than 1,000 members of the terrorist group from Gaza are being treated at hospitals in his NATO nation. 

At a joint press conference in Ankara, Turkey, Erdogan took issue with Greek Prime Minister Kyriakos Mitsotakis having categorized Hamas as a ‘terrorist organization.’ 

‘If you call Hamas a ‘terrorist organization,’ this would sadden us,’ Erdogan said, according to Reuters. 

‘We don’t deem Hamas a terrorist organization,’ he reportedly said. ‘More than 1,000 members of Hamas are under treatment in hospitals across our country.’ 

The press conference followed a two-hour face-to-face summit with the Greek prime minister. 

‘I do not see Hamas as a terror group,’ Erdogan said at the press conference, according to The Associated Press. ‘I see it as a group of people trying to protect their own land.’

Greece, like most Western states, considers Hamas a terrorist organization, but Erdogan repeated his reference to the group as a ‘resistance organization.’ The leaders were meeting for the fourth time in the past year in a bid to strengthen a normalization process.

A Turkish official who spoke on condition of anonymity later told Reuters that Erdogan meant to refer to Palestinians from Hamas-controlled Gaza, not members of Hamas. 

‘President Erdogan misspoke, he meant 1,000 Gazans are under treatment, not Hamas members,’ the official reportedly said. 

In November, the Turkish government said it planned to evacuate some wounded or sick Gazans, mostly cancer patients, as well as Turkish nationals, Turkish Cypriots and their relatives. 

Turkey and Greece, which are NATO members, have been at odds for decades over a series of issues, including territorial claims in the Aegean Sea and drilling rights in the Mediterranean, and have come to the brink of war three times in the last half-century. A dispute over energy exploration rights in 2020 led to the two countries’ warships facing off in the Mediterranean.

They agreed last December to put their disputes aside and focus on areas where they can find consensus. The list of items on the so-called positive agenda includes trade, energy, education and cultural ties. Since that summit in Athens, the regional rivals have maintained regular high-level contacts to promote fence-mending initiatives, such as allowing Turkish citizens to visit 10 Greek islands without cumbersome visa procedures.

Stressing the ties between the two countries, Mitsotakis said the deal allowed Turks and Greeks to ‘get to know each other, which is an important step.’ Similarly, Erdogan referred to the Turkish-Muslim minority in Greece’s Thrace region as a ‘friendship bridge between the two communities.’

The Associated Press contributed to this report. 

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The National Republican Congressional Committee unveiled an ad Tuesday morning signaling the six-month mark until the November election and accusing House Democrats of failing on a variety of top issues.

‘Under extreme House Democrats, the country is in crisis,’ the new ad released on Tuesday starts out. ‘The border is a disaster. The economy is failing. And lawlessness is the new normal.’

The ad continues, ‘Yet amid Democrats’ extremism, Republicans fight for our freedoms. We are six months out from the most important election of this lifetime. Fight for freedom. Fight for America. And vote on Nov. 5.’

NRCC rapid response director Macy Gardner told Fox News Digital in a statement that ‘extreme Democrats will plunge our country into an unprecedented level of chaos if we don’t kick them out of office in November.’

‘Fortunately, House Republicans continue to fight tooth and nail to halt Biden’s border, crime, and inflation crises.’

A spokesperson for the DCCC fired back in a statement to Fox News Digital, saying, ‘Facts matter.’

‘We’ve seen record job growth over the last two years, inflation has come down significantly, and it’s Republicans who defend violent insurrectionists and their wannabe dictator in chief as they stand trial,’ Viet Shelton said. ‘Only Democrats are fighting to lower health care costs, make the ultra wealthy pay their fair share, support a bipartisan border security deal, and protect reproductive freedom for everyone, everywhere.’

‘The defining traits of this House Republican majority have been dysfunction, chaos, and a steady sprint to the far-right at all costs – and voters are sick and tired of it,’ he added.

Democrats continue to hold a major cash advantage in the race for control of the House of Representatives, Fox News Digital reported last month, as Republicans attempt to grow their slim majority in the chamber this November.

A bright spot for Republicans, however, is that the NRCC’s current cash-on-hand deficit is smaller than it was at the same point in the 2022 and 2020 election cycles. In March 2022, the DCCC had $18.5 million more cash on hand than the NRCC, but Republicans gained nine seats that November. That difference was a massive $31.9 million in 2020, but Republicans still went on to gain 13 seats.

‘House Republicans remain in a strong position to grow the majority. Meanwhile, extreme House Democrats continue to support dangerous open borders, pro-crime and pro-inflationary policies that doomed their majority in the first place,’ NRCC spokesman Will Reinert told Fox News Digital in April.

Fox News Digital’s Brandon Gillespie contributed to this report

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In this edition of StockCharts TV‘s The Final Bar, Dave welcomes Mish Schneider of MarketGauge. Mish breaks down one materials name that could benefit from recently announced China tariffs, and describes how regional banks could benefit from Fed actions in 2024. David charts the S&P 500’s retest of all-time highs around 5250, and also breaks down key technical levels for HD, AAPL, and ALB.

This video originally premiered on May 14, 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.

Once a darling of the tech industry, Salesforce (CRM) had fallen out of favor until recently, when it hit a new all-time high earlier this year. Since then, though, investors have continued to shy away from this cloud computing stock as they focus on more pure AI-related companies, and Salesforce is at risk of turning lower again. As CRM matures and growth rates moderate, it simply cannot continue to command the industry-leading valuations it once did, and has to face the reality of its fundamentals.

Analyzing Salesforce

If you look at a five-year chart of CRM, you will see that the stock has traded within a significantly wide range of $130 to $310. Earlier this year, it revisited the upper bound of the range and attempted to break out higher to a new all-time high (see chart below). This quickly failed, and the stock reversed back into the range, with momentum recently turning negative. This suggests that CRM will likely continue to trade back towards the midpoint of the range, i.e., in the $210–220 area.

CHART 1. DAILY CHART OF SALESFORCE (CRM) STOCK. CRM’s stock price tested a resistance level and turned lower. Momentum is also negative, which means the stock is likely to move lower.Chart source: StockCharts.com. For educational purposes.

CRM currently trades at over 28x forward earnings, which flies in the face of growth rates that have moderated significantly over the past 12 months. After averaging EPS growth of over 45% over the past three years, future EPS growth is expected to slow to just a third of that at 16%. Revenue growth is expected to drop to under 10%. This makes a valuation that is 40% higher than the S&P 500 harder to justify when growth rates are slowing down significantly.

A Bear Put Vertical Spread For Salesforce

When you have a bearish outlook on a stock, a bear put spread can be a viable options strategy to implement. The strategy involves buying a put option with a strike price at the current stock, and then selling a put option with a lower strike price with the same expiration. Your maximum risk is the net premium paid between the two legs. The risk graph below illustrates the profit and loss scenario of a bear put vertical spread.

RISK GRAPH OF A BEAR PUT SPREADIf the stock declines below the lower strike price, the strategy will realize the maximum profit potential of the distance between the two strikes minus the premium paid. Also, if the stock were to stay above the higher strike price, you would realize the maximum loss potential.

With earnings in three weeks, CRM options prices are slightly elevated and warrant using a spread to lower the cost of seeking bearish exposure. I’m going out to the July expiration and buying the $280/$250 put vertical @ $10.70 debit. This entails:

Buying July $280 puts @ $15.43Selling July $250 puts @ $4.73

This would risk $1070 per contract if CRM is above $280 at expiration, while potentially making $1930 per contract if CRM is below $250 at expiration.

The Takeaway

If you want to profit from a potential decline in a stock’s price, you could trade a bear put spread. It limits your risk, has reasonable profit potential, and is cost-effective.

Target will limit which stores sell LGBTQ-themed products following last year’s firestorm over its decision to sell products designed for transgender people.

The retailer said Thursday that it would be selling its Pride merchandise in a select number of its nearly 2,000 stores and on its website this year, citing “historical sales performance.” It added that in addition to selling LGBTQ-themed home and food and beverage items, apparel from its Pride collection this year will be tailored to adults. No Pride apparel for children will be sold.

The latest decision, first reported by Bloomberg News, represents a change from offering the products in all Target stores, as the company has done in previous years.

‘Target is committed to supporting the LGBTQIA+ community during Pride Month and year-round,’ a spokesperson for the company said in an email on Friday. ‘Most importantly, we want to create a welcoming and supportive environment for our LGBTQIA+ team members, which reflects our culture of care for the over 400,000 people who work at Target.’

‘We have long offered benefits and resources for the community, and we will have internal programs to celebrate Pride 2024,’ the spokesperson added.

Last year, Target was the focus of a social media-fueled boycott by some shoppers who disagreed with the retailer’s decision to sell swimsuits for trans people, with many individuals falsely accusing the retailer of selling them to children. The retailer’s Pride-themed clothing for children included apparel with supportive slogans such as “Just be you” and “Trans people will always exist!”

Target has spent the better part of a decade publicly supporting the LGBTQ movement following a controversy involving its CEO’s donation in 2010 to a group that supported a gubernatorial candidate who opposed gay marriage.

But last year’s backlash resulted in the company pulling trans-oriented products from its shelves amid scenes of store employees being harassed by customers.

Target was also falsely accused of selling ‘satanic’ children’s clothes, further alienating some conservative shoppers.

Some conservatives celebrated the company’s announcement to dial back this year’s collection.

“Target won’t be pumping every store with pride crap this year and that’s a win,” conservative media personality and political commentator Tomi Lahren wrote on X on Friday. “Why do we ALL need to celebrate who you sleep with?!!!”

Target is far from the only company that has come under pressure to pare down its support for the LGBTQ community in recent years. 

In 2022, Florida lawmakers passed legislation to strip Disney of control over Walt Disney World’s self-governing district after the company voiced opposition to Florida’s so-called Don’t Say Gay law. In response, Disney sued Florida Gov. Ron DeSantis and his allies, arguing that the state violated the company’s free speech rights. The two parties reached a settlement over the self-governing district earlier this year.

Bud Light faced a social media firestorm last year after transgender influencer Dylan Mulvaney appeared in an online ad for the company. Sales of the popular American beer brand dipped and calls for boycotts surged after the spot.

Several weeks ago, NBC News was first to report that Best Buy offered to screen LGBTQ nonprofit donations earlier this year following pressure from a conservative nonprofit.

“Nothing has changed in the ways we give to LGBTQIA+ organizations,” Carly Charlson, a spokesperson for Best Buy, said in statement earlier this month. “At Best Buy, we strongly believe in an inclusive work environment with a culture of belonging where everyone feels valued and has the opportunity to thrive.”

Target said in its statement Thursday that it will continue to support LGBTQ organizations, including the nation’s largest LGBTQ advocacy group, the Human Rights Campaign, and to spotlight LGBTQ-owned brands throughout the year.

Kelley Robinson, the HRC’s president, said in a statement on Friday that ‘companies need to understand that community members and allies want businesses that express full-hearted support for the community.’

“Target’s decision is disappointing and alienates LGBTQ+ individuals and allies at the risk of not only their bottom line but also their values,’ she said.

This post appeared first on NBC NEWS

Workers at a Mercedes-Benz plant in Alabama began voting Monday on whether to join the United Auto Workers union, a significant test of whether the labor group can maintain momentum in the historically anti-union American South.

A union victory at the plant, weeks after a resounding win at a Volkswagen factory in Tennessee, would be a watershed moment for the UAW as it seeks to organize more than a dozen automakers across the nation and add to its dwindling ranks.

The campaign at Mercedes has been much more contentious. The company has urged workers to vote no, according to fliers and signage viewed by Reuters. Mercedes also hired anti-union firms to speak with workers, plant employees said.

Mercedes has rejected claims it prevented union organizing efforts in Alabama. A spokeswoman said the company respects employee unionizing efforts and is ensuring every worker has a chance to vote by secret ballot while having the information needed to make an informed choice.

The 5,200 employees at the assembly plant and nearby battery factory will cast ballots this week, with final results expected Friday.

UAW President Shawn Fain has spent more than a year strategizing his path to win over non-union auto workers, and it all began with new labor contracts in Detroit.

Fain became UAW president in March 2023 and led the union through its first simultaneous strike against the Detroit Three automakers: General Motors, Ford and Jeep-maker Stellantis. The six-week walkout resulted in record agreements, including a 25% wage increase and the return of cost-of-living adjustments.

Making a strong showing in the Motor City was critical for wooing workers in the South, Fain has said.

In the halls of the Mercedes plant, where workers produce electric and gas-engine SUVs, the Detroit contracts became a pro-UAW talking point.

“That is the biggest thing that we’re using to push because we can show how much the union can win now,” Mercedes worker Jacob Ryan said. He supports the union because he feels the company has not addressed worker concerns around pay, hours and benefits.

Ryan, who has been a full-time worker at the plant for about five years, has been encouraging unionization since before Fain was elected.

Less than two years ago, he and fellow organizers struggled to get 20% of workers to sign cards supporting the UAW. Now, the plant has a supermajority of those cards, according to the UAW, which typically files for an NLRB election once a facility has reached a threshold of 70% of workers in favor of joining.

However, the factory sits deep in the American South, which has historically been more resistant to unions. In one of its last efforts there in August 2017, the UAW lost a vote at Nissan’s Canton, Mississippi, plant by a 2-to-1 margin.

“The challenge is very significant to win at the Mercedes plant and in states like Alabama … where there really has been so little union activity,” said Kate Andrias, a professor at Columbia Law School who specializes in labor law.

Mercedes has mounted a more aggressive campaign against the union than VW did, labor professors and workers said. It has held meetings led by company executives as well as outside labor firms emphasizing the risks of joining the UAW, according to workers and meeting audio reviewed by Reuters. Signage posted around the plant, which company leaders pointed to in meetings, urged workers to “vote no,” according to employees and photos reviewed by Reuters.

This is also the first election at the plant, whereas the UAW had two attempts at VW before winning.

“I don’t know that they have spent the same amount of time and investment in Vance, Alabama, as they did over the years in Chattanooga,” Art Wheaton, labor professor at Cornell University, said, comparing the Mercedes and VW efforts.

The UAW just reached an agreement on a new labor contract for Daimler Truck employees at several facilities in the South. Daimler Truck was once part of the same company as Mercedes.

State governments in the South have waged strong resistance to unionizing. Six governors, including Alabama’s Kay Ivey, signed a letter urging workers to reject the UAW. They said unionization would stunt the auto industry’s growth across the South.

In meetings with workers, company leaders and outside firms have suggested that workers wait and see what happens in the VW contract talks, pointing to some negotiations at other companies that have taken 400 days.

Others feel Mercedes is finally taking workers’ concerns seriously. The automaker recently replaced the president of its U.S. business, and some workers said they are encouraged by the actions of the newly appointed Federico Kochlowski.

Melissa Howell, an 18-year employee at the plant, fears bringing in a union could interrupt this momentum.

“We as team members, without a union in there right now, we really have a great advantage,” Howell said. “They clearly understand that we are not happy and they are listening.”

This post appeared first on NBC NEWS

U.S. safety regulators have opened a probe into Amazon-owned robotaxi venture Zoox after two of its autonomous SUVs braked suddenly and were rear-ended by motorcyclists.

The National Highway Traffic Safety Administration said Monday it initiated an investigation after two Toyota Highlanders equipped with Zoox’s automated self-driving braked unexpectedly. In both cases, motorcyclists collided into the Zoox vehicles, which led to minor injuries.

NHTSA said it confirmed each of the Zoox cars were operating in autonomous mode when the incidents occurred. Both of the collisions took place during the daytime and within the operational design limits of Zoox’s autonomous system.

The agency’s probe covers about 500 vehicles and focuses on the performance of Zoox’s automated driving system, specifically how it behaves near crosswalks and “in other similar rear-end collision scenarios.”

Representatives from Zoox did not immediately respond to a request for comment.

Amazon acquired Zoox for a reported $1.2 billion in 2020. Zoox, which has largely continued to operate as a standalone unit within Amazon, has been developing an electric, fully driverless vehicle designed for ride-hailing. Zoox has been testing its robotaxis in Las Vegas, Nevada, and Foster City, California. In March, the company said it was expanding its operating routes in those areas to include a larger area, faster speeds, nighttime driving and light rain conditions.

The company faces a separate probe by NHTSA. Last March, the agency said it would investigate Zoox’s self-certification in 2022 that its robotaxi met federal safety standards.

This post appeared first on NBC NEWS

Fewer homeowners have been taking on remodeling projects, reports show. But don’t mistake it for a slow market.

The Leading Indicator of Remodeling Activity, an outlook measuring home improvement and repair spending on owner-occupied homes, peaked at 17.3% in the third quarter of 2022. The LIRA has been declining since, and slid 1.2% in the first quarter of 2024 compared to the prior quarter.

The NAHB/Westlake Royal Remodeling Market Index by the National Association of Home Builders reflects a similar decline. The RMI, which measures remodelers’ sentiment about the market, peaked at 87 points in the third quarter of 2021, and like the LIRA, has been consistently declining since. In the first quarter of 2024, the measure fell to 66 points, down one point from the previous quarter.

However, the RMI is still in territory where more remodelers see the conditions as “good” rather than “poor,” said Robert Dietz, chief economist of NAHB.

In a release for the group’s first quarter report, NAHB Remodelers Chair Mike Pressgrove noted that “demand for remodeling remains solid, especially among customers who don’t need to finance their projects at current interest rates.”

The height of the Covid-19 pandemic brought with it a burst of home renovation activity.

Homeowners were eager to invest in the spaces they were spending so much time in: updating key spaces like kitchens and bathrooms, building out home offices and adding pools.

Some also had savings built up thanks to stimulus checks, and from activities they couldn’t do during early lockdowns — and rerouted that money toward home improvements and remodels, said Abbe H. Will, senior research associate and associate director of Remodeling Futures at the Joint Center for Housing Studies at Harvard University. In 2021, owners used cash from savings to pay for nearly four out of five projects, according to a JCHS report.

“We’re coming off such high levels of spending,” Will said.

As Covid-era savings have dried up, so has that boost in activity.

Homeowners are doing fewer and smaller remodels. Yet they are spending more per project, in part due to broader inflation and higher costs for materials and construction labor.

Homeowners spent an average $9,542 on home improvements in 2023, a 12% increase from a year prior, according to the State of Home Spending by Angi. At the same time, the amount of projects decreased to an average of 2.8 projects in 2023 from 3.2 in 2022. The survey polled 6,400 consumers between Oct. 22 and Oct. 23.

The increase in home improvement spending, along the decrease in projects, suggests inflation corroded household budgets, according to the home services website.

While home improvement activity is expected to further moderate from pandemic highs, remodelers continue to be busy with work.

Contributing to demand: Owners are living in their homes for longer and the existing housing stock in the U.S. is getting older. Both factors are going to require homeowners to invest in the upkeep of their properties, experts say.

As of 2024, the typical homeowner’s tenure in their home is 11.9 years, according to Redfin, a real estate brokerage site. That’s nearly double the average 6.5 years in 2005.

It’s largely driven by baby boomers aging in place; nearly 40% of boomers have lived in their homes for almost 20 years, while 16% have stayed in their home for at least a decade, Redfin found.

“Aging-in-place remodeling” has turned into a big subsector in the remodeling market as baby boomers move into their retirement years, said Dietz. Instead of relocating, some retirees plan to stay in their neighborhoods or close to family.

“But that means they’re investing in their homes, whether it’s energy efficiency items [or] safety items like lighting and railings,” Dietz said.

However, the real driver for remodels is the aging housing market. In 2021, the median age of all owned homes was 41 years old, according to the 2021 American Housing Survey by the U.S. Census Bureau. Homes built in the 1980s or earlier make up about 60% of existing stock, according to a U.S. Census data analysis by the NAHB.

“It really speaks to the fact that we haven’t built a lot of new housing over the last decade. That aging housing stock is going to require investment,” Dietz said.

This post appeared first on NBC NEWS

NEW YORK — It turns out the New York Rangers are going to have to sweat this one out.

Visions of a second straight playoff sweep were erased when they lost Game 4 in Carolina on Saturday, but a return home to Madison Square Garden for Game 5 felt like a fitting place to finish off the pesky Hurricanes.

Except it didn’t happen that way.

The Rangers took a one-goal lead into Monday’s third period, but that’s when the Canes pounced. They poured in four goals in the final frame, including three in a span of 6:23, to wipe away their deficit and hand the Blueshirts a gut-punch 4-1 loss.

And now we have a series.

New York still leads 3-2 overall, but a return trip to Carolina − where the Hurricanes have won 16 of their last 21 playoff games − for Game 6 on Thursday at 7 p.m. ET is next on an increasingly difficult docket.

If momentum is a thing in the playoffs, it has shifted firmly in the Canes’ favor.

Slipping away

A scoreless first period featured quality chances both ways, but the Canes were making a strong push in the second when a tripping penalty on Jack Roslovic sent them to the power play.

The fear was that Carolina would carry momentum from Brady Skjei’s game-winning goal on Saturday, which snapped an 0-for-16 skid for its PP to begin this series. But the Rangers’ vaunted penalty kill, which has been arguably their biggest strength in these playoffs, went right back to its dominant ways.

The key play came from Jacob Trouba, who was on ice for all four Canes’ goals in Game 4 but responded with a bounce-back performance on Monday. He blocked a shot from Sebastian Aho, scooped up the loose puck and carried it coast-to-coast for New York’s fourth shorthanded goal of the playoffs.

That made it 1-0 at the 6:23 mark, with the Rangers carrying that lead into the final period.

That’s when things took a sharp turn in the Hurricanes’ favor. They hadn’t been able to solve Igor Shesterkin for the first 40-plus minutes, but they made the Blueshirts pay for taking a passive approach to begin the third.

Jordan Staal netted the tying goal off a failed Rangers’ clear, blowing by defenseman Braden Schneider before reaching around Shesterkin for a backhanded finish. That made it 1-1 with 16:27 to play, with Carolina continuing to swarm from there.

Evgeny Kuznetsov struck next for his second goal in as many games, beat Artemi Panarin to the net to bury a rebound from Skjei that turned out to be the winning goal.

Jordan Martinook scored to make it 3-1 with 10:04 to play before an empty-netter from Martin Necas sealed.

Vincent Z. Mercogliano is the New York Rangers beat reporter for the USA TODAY Network. Read more of his work at lohud.com/sports/rangers/ and follow him on Twitter @vzmercogliano.

This post appeared first on USA TODAY

Could the horse racing world be on Triple Crown watch?

The build-up for the 2024 Preakness Stakes is officially underway with Monday’s post position draw, just days before the race takes place on Saturday, May 18 at the Pimlico Race Course in Baltimore. And all eyes were on Mystik Dan to see what spot 2024 Kentucky Derby winner got.

There was uncertainty if Mystik Dan would compete in the Preakness, but trainer Kenny McPeek said this past weekend the Derby winner would race at Pimlico. Therefore, Mystik Dan has a chance to win the second leg of the Triple Crown and, if successful in the Preakness, seek to become the first horse since Justify in 2018 to win all three legs of the Triple Crown with a victory in the Belmont Stakes on June 8, 2024.

Monday’s draw determined the starting gate for each horse at Pimlico and could be the key to winning. Here are the post positions for the 2024 Preakness Stakes:

2024 Preakness Stakes post positions

Here’s where each horse landed, in addition to the horse’s jockey and odds in parentheses:

Mugatu, Joe Bravo (20-1)
Uncle Heavy, Irad Ortiz Jr. (20-1)
Catching Freedom, Flavien Prat (6-1)
Muth, Juan Hernandez (8-5)
Mystik Dan, Brian Hernandez Jr. (5-2)
Seize the Grey, Jaime Torres (15-1)
Just Steel, Joel Rosario (15-1)
Tuscan Gold, Tyler Gaffalione (8-1)
Imagination, Frankie Dettori (6-1)

When is the 2024 Preakness Stakes?

The 2024 Preakness Stakes is Saturday, May 18. The race will air on NBC with the post time approximately at 6:50 p.m. ET.

This post appeared first on USA TODAY