Archive

2024

Browsing

Israel is preparing to launch what is expected to be a massive ground operation inside Rafah, a city in southern Gaza where some 1.5 million Palestinians have taken shelter. The Israeli army has begun ordering tens of thousands of Palestinians living in the city to evacuate.

On Monday, Israel’s Defense Forces ordered an evacuation of Rafah, signaling that a long-promised ground operation could be imminent. The Israeli army has described Rafah as the last significant Hamas stronghold after seven months of war, and its leaders have repeatedly said clearing Rafah is necessary to defeat the Islamic militant group.

Overnight, Israeli Defense Minister Yoav Gallant told U.S. Secretary of Defense Lloyd Austin that Israel was left with no choice but to act in Rafah after Hamas terrorists carried out a deadly rocket attack from Rafah earlier in the day that left four Israeli soldiers dead.

A potential ground operation comes as last-ditch efforts by international mediators, including the CIA, to broker a cease-fire have failed to produce a deal.

Israeli Prime Minister Benjamin Netanyahu has vowed to carry out a military operation in Rafah. According to Israel’s army, forces are beginning with a ‘limited scope operation.’

Lt. Col. Nadav Shoshani, an army spokesman, said some 100,000 people were being ordered to move to a nearby Israel-declared humanitarian zone called Muwasi. He said Israel published a map of the evacuation area.

These orders have been issued through air-dropped leaflets, text messages and radio broadcasts so that Palestinians could get the information.

‘Anyone found near (militant) organizations endangers themselves and their family members. For your safety, the (army) urges you to evacuate immediately to the expanded humanitarian area,’ one flyer read.

He said Israel has expanded humanitarian aid into Muwasi, including field hospitals, tents, food and water.

Israel’s army said on the social media platform X that it would act with ‘extreme force’ against Hamas terrorists, and urged the population to evacuate immediately for their safety.

The move also comes as the Biden administration reportedly put a hold on a shipment of U.S.-manufactured ammunition to Israel for the first time since the deadly Oct. 7 Hamas terror attack.

Two Israeli officials told Axios that the weapons shipment was stopped last week, leaving officials within the Israeli government scrambling to understand why.

About 1.5 million Palestinians – more than half of Gaza’s population – are sheltering in Rafah, as they have been forced to evacuate other areas in the Gaza Strip, amid Israel’s ongoing war with Hamas.

The Associated Press contributed to this report.

This post appeared first on FOX NEWS

Former President Trump’s campaign and the Republican National Committee (RNC) are showcasing that they hauled in over $76 million last month, as the presumptive GOP nominee works to reduce his fundraising deficit to President Biden in their 2024 election rematch.

The announcement came as Trump this weekend headlines the RNC’s spring donor retreat, which is being held in Palm Beach, Florida. 

The haul by Trump and the RNC is up from $65.6 million in March. But Biden and the Democratic National Committee combined raked in roughly $90 million in March. And according to campaign disclosures, the president had more than twice as much money in his campaign coffers as the Republican challenger and predecessor in the White House as of the beginning of April.

But Trump and the RNC’s fundraising has soared since the former president clinched the 2024 GOP nomination in March, and his top political advisers repeatedly insist they’ll have enough campaign cash to compete with Biden.

‘President Donald J. Trump is not only winning across every battleground state, but we are raising the resources necessary to deliver a victory in November,’ Trump campaign senior advisers Chris LaCivita and Susie Wiles said in a statement Saturday that announced the April haul.

 ‘With half of funds raised coming from small dollar donors, it is clear that our base is energized. The Republican Party is united, and voters nationwide are ready to FIRE Joe Biden and elect President Donald J. Trump,’ they added.

‘Our team will continue working every day to exceed expectations, raise the funds we need, and build an unmatched party infrastructure to prove that President Trump’s momentum is unstoppable,’ RNC chair Michael Whatley and co-chair Lara Trump added in the statement.

Whatley, the former North Carolina GOP chair, and Lara Trump, the former president’s daughter-in-law, were installed as the new RNC leadership by Trump in early March as he effectively took over control of the party after clinching the nomination.

The fundraising figures were first revealed earlier on Saturday as Trump campaign officials gave a one-hour presentation to donors at the closed-door retreat, Republican sources confirmed to Fox News. The weekend confab is being held at the Four Seasons oceanfront resort in Palm Beach and at Trump’s Mar-a-Lago club, which is located a few miles north.

During the presentation, which was first reported Saturday by the New York Times, Trump campaign officials emphasized that the former president is ahead in the key battleground states of Georgia, Nevada and Arizona, and competitive in Michigan, Wisconsin and Pennsylvania. Biden narrowly carried all six of those states in 2020 to defeat Trump and win the White House.

Trump’s advisers also said they aimed to expand the map in Minnesota and Virginia, where they said their polling shows Trump competitive in states Biden comfortably won four years ago.

The RNC spring retreat provided a brief break for Trump from his criminal trial in New York City. The former president is being tried on nearly three-dozen state felony charges for allegedly falsifying business records in relation to hush-money payments during the 2016 election he made to Stormy Daniels to keep quiet about his alleged affair with the adult film actress.

Trump has repeatedly denied falsifying business records as well as the alleged sexual encounter with Daniels.

This post appeared first on FOX NEWS

Mike Pompeo, when he was U.S. secretary of state, shared intel with the United Kingdom during the COVID-19 pandemic suggesting a ‘high likelihood’ that the deadly coronavirus leaked from a Chinese lab, according to The Telegraph.

An intelligence alliance known as ‘Five Eyes’ reportedly met in January 2021 to discuss the lab-leak theory, the outlet reported. Around the same time, Pompeo is said to have shared information from classified American reports put together by the State Department to then-U.K. Foreign Secretary Dominic Raab, as well as representatives from New Zealand, Canada and Australia. 

The British newspaper says two former Trump administration officials believe Raab – and the U.K. government as a whole – ignored the lab leak theory due to pressure from government scientists who leaned toward the theory that the illness had been transferred from animals to humans. 

‘We saw several pieces of information and thought that they were, frankly, gobsmacking,’ one former official who worked on the intelligence in Pompeo’s report told The Telegraph. ‘They obviously pointed to the high likelihood that this was indeed a lab leak.’

The reports, consisting of information collected in the early days of the pandemic, were also shared with the U.K. via Five Eyes between October and December 2020. Five Eyes consists of Australia, Canada, New Zealand, the United Kingdom and the United States.

Information in one document obtained by The Telegraph states U.S. officials accused Chinese officials of ‘stonewalling,’ as well as ‘gross corruption and ineptitude.’ The information also reportedly showed that the Chinese military had been working with the Wuhan Institute of Virology for years before the pandemic, and that lab researchers got sick soon before COVID-19 was first reported in the area. 

On May 1, the U.S. House Select Subcommittee on the Coronavirus Pandemic called for a criminal probe into the origins of the COVID-19 virus.

The demands for an investigation come after the release of an interim staff report accusing EcoHealth Alliance President Dr. Peter Daszak of funding ‘dangerous gain-of-function research in Wuhan, China, without sufficient oversight.’

EcoHealth Alliance is a non-governmental organization based in the United States and focused on researching pandemic prevention.

According to congressional lawmakers, EcoHealth used taxpayer dollars ‘to fund dangerous gain-of-function research at the Wuhan Institute of Virology (WIV)’ in China. 

The NGO disputes that claim.

Fox News Digital previously reported that EcoHealth Alliance received millions of dollars in grants from the National Institutes of Health (NIH), and that U.S. taxpayer funds flowed to Chinese entities conducting coronavirus research through EcoHealth Alliance.

Fox News’ Timothy H.J. Nerozzi and Brooke Singman contributed to this report. 

This post appeared first on FOX NEWS

The Biden administration has put a hold on a shipment of U.S.-manufactured ammunition to Israel for the first time since the deadly Oct. 7 Hamas terror attack, according to a report.

Two Israeli officials told Axios that the weapons shipment was stopped last week, leaving officials within the Israeli government scrambling to understand why.

When asked about the report, a spokesperson for the White House National Security Council told Fox News Digital that it has supported Israel’s defense since the Oct. 7 attack.

‘The United States has surged billions of dollars in security assistance to Israel since the October 7 attacks, passed the largest ever supplemental appropriation for emergency assistance to Israel, led an unprecedented coalition to defend Israel against Iranian attacks, and will continue to do what is necessary to ensure Israel can defend itself from the threats it faces,’ the statement said.

Israeli Prime Minister Benjamin Netanyahu has vowed to carry out a military operation in Rafah, a city in southern Gaza where some 1.5 million Palestinians have taken shelter, and where Hamas maintains its last remaining stronghold.

The potential Rafah operation to root out Hamas terrorists comes despite warnings from President Biden and other Western officials that doing so would result in more civilian deaths and worsen an already dire humanitarian crisis.

The Biden administration has said there could be consequences for Israel should it move forward with the operation without a credible plan to safeguard civilians.

Biden has also faced criticism from Americans who are against his support of Israel, most recently seen in protests that have erupted across college campuses nationwide. 

The current war in Gaza began after the Oct. 7 Hamas attack on Israel, in which the terrorist organization killed 1,200 people, and took about 250 people hostage.

The Associated Press contributed to this report.

This post appeared first on FOX NEWS

We’ve all heard that popular Wall Street adage, “Go away in May”, right? It’s cute and it rhymes, so why wouldn’t we make the HUGE decision to liquidate all of our stock holdings? <sarcasm> Did I mention it rhymes? One of the biggest disservices to investors everywhere is the “all in” approach the media takes with regard to “go away in May.”

Investing is not that simple and a dose of independent research would help a lot of analysts.

Let me first start by saying that there is some truth to this adage. The premise behind “go away in May” is that the May through October period is weaker than the November through April period. This is true and here are the annualized returns since 1950 on the S&P 500 to support it:

November through April: +14.59%May through October: +3.74%

The numbers don’t lie. But the question isn’t which period is better. The question is whether you should “go away in May”. I don’t think taking this adage literally makes very much sense and I’ll explain why.

Secular Bull Market Makes a Difference

I believe every May needs to be analyzed separately based on the market’s current technical and sentiment conditions. Yes, the tendency is to be weaker from May through October, and we shouldn’t lose sight of that fact, but we’re in a 11-year secular bull market. Returns in a secular bull market are much better than the “average” year. Let me break down the returns of the two periods in question during this secular bull market:

November through April: +17.04%May through October: +10.57%

The November through April period has been stronger for sure, but do you really want to “go away” during the May through October period. 10.57% is a very nice annualized return. What I have written about in the past is that the true “go away” period historically has been from the close on July 17th through the close on September 26th. Even during this secular bull market of the past 11 years, this July 18th through September 26th has posted an annualized return of -3.72%. This is your true “go away” period. Unfortunately, it doesn’t rhyme and many CNBC contributors don’t do necessary research – they just follow along with the jingle.

Finally, going back to 1950, the May through October period annualized return jumps from 3.74% to 7.59% if we simply exclude that true “go away” period from July 18th through September 26th.

Growth vs. Value

While May through October is weaker, did you know that the best 4-consecutive month period for growth stocks (IWF) vs. value stocks (IWD) in May through August? Check out this seasonality chart for the IWF:IWD over the past 20 years (which includes both bull and bear markets):

If we add up that monthly outperformance/underperformance, you’ll see that May through August shows the IWF outperforming the IWD by 3.4%, while outperforming by just 0.5% during the other 8 months. You miss all of that growth outperformance by sitting out from May through October.

How about Apple’s (AAPL) historical performance. This is one of the largest market cap companies in the world and a big driver of the S&P 500. Let’s see how AAPL performs relative to the S&P 500 on a monthly basis over the past 20 years:

Here’s AAPL’s outperformance:

May through October: +17.8%November through April: +5.6%

You don’t want to “go away” from AAPL during that May through October period, do you?

Weekly Market Recap Video

After taking last weekend off for a vacation, I returned to YouTube yesterday for my latest weekly recap. I explained why this looks NOTHING like a bear market. Feel free to check out my “This Is NOT A Bear Market” video at your leisure. Please be sure to “Like” the video and “Subscribe” to our YouTube channel. I’d certainly appreciate your support!

DON’T Go Away in May Event

If you find research like the above to play an important role in your stock market analysis and decisions, then you’ll love our next event on Tuesday, May 7, at 4:30pm ET! There are a few warning signs in the stock market right now and I’ll discuss each of them in detail and provide you exactly what to look for to confirm that the next leg of the current secular bull market is underway. This is a “Can’t Miss” event reserved for our members at EarningsBeats.com, but a FREE 30-day trial is all you’ll need to get the best up-t0-date independent research available. For more information on this timely event and to register, CLICK HERE.

Happy trading!

Tom

The Kentucky Derby, long known as “the most exciting two minutes in sports,” may be on its way to becoming some of the most expensive two minutes in sports.

Ticket prices for the iconic horse race have more than tripled over the past decade, from an average of $378 in 2014 to $1,254 this year on the resale market as of April 22, according to the booking platform TicketSmarter.

That could reflect strong demand for the race’s 150th anniversary, but it’s also partly because Louisville’s Churchill Downs Racetrack has worked to lure spendier customers through its gates. The facility has shaken up its seating and poured $200 million into a renovation that debuts at this year’s Derby and features, among other upgrades, “a new luxury equine-focused dining experience.”

This post appeared first on NBC NEWS

The auditing firm for Trump Media and the auditor’s owner were charged Friday with “massive fraud” by the Securities and Exchange Commission for work that affected more than 1,500 SEC filings, the federal regulator announced.

The auditor, BF Borgers CPA and its owner Benjamin Borgers have agreed to be permanently suspended from practicing as accountants before the SEC, and also agreed to pay a combined $14 million in civil penalties, with admitting or denying the allegations, the SEC said.

The agency, calling BF Borgers a “sham audit mill,” said the company and its owner engaged in “deliberate and systemic failures to comply with Public Company Accounting Oversight Board … standards in its audits and reviews incorporated in more than 1,500 SEC filings from January 2021 through June 2023,” according to a press release.

The respondents also were charged with falsely telling clients that the auditor’s work would comply with PCAOB standards, fabricating audit documents to make it seem that the work did comply with those standards, and “falsely stating in audit reports included in more than 500 public company SEC filings that the firm’s audits complied with PCAOB standards,” the release said.

The bombshell SEC action raised questions about the accuracy of the financial information in thousands of reports that were issued by the companies Borgers audited, including Trump Media, whose majority shareholder is former President Donald Trump.

These reports, filed regularly with the SEC, provide essential information that investors and analysts use to evaluate companies whose stock trades on public markets.

As of Friday morning, the investor relations page on Trump Media’s website still listed BF Borgers as the independent auditor of the company.

“Ben Borgers and his audit firm, BF Borgers, were responsible for one of the largest wholesale failures by gatekeepers in our financial markets,” SEC Enforcement Division Director Gurbir Grewal said in a statement.

“As a result of their fraudulent conduct, they not only put investors and markets at risk by causing public companies to incorporate noncompliant audits and reviews into more than 1,500 filings with the Commission, but also undermined trust and confidence in our markets,” Grewal said.

The share price of Trump Media, which owns the Truth Social app, was down 9% shortly after trading began Friday.

A spokeswoman for Trump Media did not immediately respond to comment on the SEC complaint.

The company, whose stock began public trading only in late March after a merger with a shell company, will have to find a new auditor as a result of the SEC action.

– Additional reporting by CNBC’s Brian Schwartz

This post appeared first on NBC NEWS

The Kentucky Derby, long known as “the most exciting two minutes in sports,” may be on its way to becoming some of the most expensive two minutes in sports.

Ticket prices for the iconic horse race have more than tripled over the past decade, from an average of $378 in 2014 to $1,254 this year on the resale market as of April 22, according to the booking platform TicketSmarter.

That could reflect strong demand for the race’s 150th anniversary, but it’s also partly because Louisville’s Churchill Downs Racetrack has worked to lure spendier customers through its gates. The facility has shaken up its seating and poured $200 million into a renovation that debuts at this year’s Derby and features, among other upgrades, “a new luxury equine-focused dining experience.”

This post appeared first on NBC NEWS

Among oddsmakers, there’s little debate about who’s the favorite to win the Mike Tyson-Jake Paul fight.

Their pick is not the one-time Baddest Man on the Planet (aka Tyson).  

Paul, 27, has emerged as a solid favorite over Tyson, 57, with five sportsbooks that have posted odds for the sanctioned pro heavyweight fight set for July 20 at AT&T Stadium in Arlington, Texas.

“It’s all about age,’’ said Johnny Avello, the top oddsmaker for DraftKings. “Who steps in the ring at 57 years old?’’

Actually, Tyson will be 58 at the time of the fight. DraftKings prefers youth, listing Paul as a -180 favorite ($180 must be bet to win $100 if Paul prevails) and Tyson as a +135 underdog ($135 will be won for every $100 bet if Tyson prevails).

“We realize people are going to say, ‘Mike Tyson? The great Mike Tyson is an underdog in this against Jake Paul?’ ” Avello said. ”And they probably are going to bet the underdog, but we’re OK with that.’’

Jay Kornegay, executive vice president of race and sportsbook operations at the Westgate SuperBook, also cites age as a factor with Westgate listing Paul as a -250 favorite and Tyson as a +200 underdog.

“I know a lot of people go back to Mike Tyson’s training video and he looked really impressive and it looked like he was in shape,’’ Kornegay said, referring to videos of Tyson’s training sessions posted on his social media accounts. “But it’s a pretty big hurdle for Tyson to overcome a younger, bigger foe like that despite how he looks on a training video.’’

Why else is Mike Tyson an underdog vs. Jake Paul?

In 2020, Tyson fought Roy Jones Jr. in an eight-round exhibition that ended in a draw. ‘But he really hasn’t fought since 2005,’ Avello said.

Tyson (50-6, 44 KOs) fought his last pro bout on June 11, 2005, when he failed to come out for the seventh round against journeyman Kevin McBride.

By contrast, Paul (9-1, 6 KOs) has 10 bouts since turning pro in January 2020.

“So as oddsmakers we have to look at who actually is fighting these days, and that would be Paul,’’ Avello said. “He has some skills. I’m sure he’s not going to just stand there and let Tyson just beat the crap out of him.’’

This week, the 6-foot-1 Paul said he’s 230 pounds despite having fought at the 200-pound cruiserweight division in previous bouts. Tyson is 5-foot-10 and weighed 220 pounds for his exhibition against Jones.

“Jake Paul, he’s bigger than most people think and he’s somewhat skilled and has more power at this particular time than Mike Tyson,’’ Kornegay said. “That’s how we look at it.’’

Mike Tyson vs Jake Paul odds

BetMGM: Jake Paul -185; Mike Tyson +130

BetOnline: Jake Paul -260; Mike Tyson +200

DraftKings: Jake Paul -180; Mike Tyson +135

FanDuel: Jake Paul -172; Mike Tyson +180

Westgate SuperBook: Jake Paul -250; Mike Tyson +200

This post appeared first on USA TODAY

New York Yankees outfielder Aaron Judge was ejected from Saturday’s game against the Detroit Tigers.

It was his first career ejection in 870 career games and Trent Grisham replaced Judge in center field.

In the bottom of the seventh inning and New York leading 5-3, Judge took a 92-mph fastball from Tyler Holton on the outside corner, striking out looking.

Judge walked away from the plate as he said something to home plate umpire Ryan Blakney. As Judge made his way to the dugout, he had his back turned and Blakney promptly tossed him from the game.

Yankees manager Aaron Boone came out of the dugout to argue the case, but to no avail. Judge had four at-bats in Saturday’s game, with two hits, an RBI, and two strikeouts.

All things Yankees: Latest New York Yankees news, schedule, roster, stats, injury updates and more.

‘Very surprising, especially in a 5-3 game, late in the game,’ Judge told reporters after the game. ‘Battling a 3-2 count and kind of walking away saying my piece. I’ve said a lot worse. …I usually try not to make a scene in situations like that. So a little surprised [that] walking away that happened.’

For the season, the 2022 AL MVP is hitting .209 with six home runs and 19 RBI.

‘I got a lot of respect for Ryan and what he does,’ Judge said postgame. ‘I know their job is tough and I’ve always had their back because it’s tough back there. So, for it to happen that way, that’s what I’m most upset about. Especially late in a game like that, close game.’

This post appeared first on USA TODAY