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A nonprofit founded and funded by liberal billionaire George Soros funneled a massive eight-figure sum into a prominent liberal super PAC that bankrolls several left-wing groups, according to records reviewed by Fox News Digital.

Soros’ Fund for Policy Reform poured $60 million into the Democracy PAC in the first quarter of this year, which then funneled millions of dollars into top Democratic committees benefiting House and Senate races, along with other liberal groups, FEC records posted on Monday show.

Of the $21 million that Democracy PAC sent to a dozen left-wing groups, $8 million was evenly divided between a pair of top outside groups benefitting House and Senate Democrats, $2.5 million to Planned Parenthood, $2.5 million to BlackPAC and $1.8 million to American Bridge, a Democratic opposition research firm.

Democracy PAC also sent $500,000 to Americans for Contraception Victory and $1 million to the ColorOfChange PAC.

Color of Change has been among the most active groups advocating to defund the police. In 2021, they were at the forefront of the unsuccessful push to ‘dismantle’ and replace the Minneapolis Police Department, an effort that was fueled by $500,000 from George Soros’ Open Society Policy Center.

‘We know that policing doesn’t keep us safe, communities do,’ reads a Color of Change petition calling on supporters to demand their local officials start the defunding process. ‘Policing doesn’t lead to thriving communities, investment does.’

The $60 million figure was the second largest in the 2024 election cycle so far, eclipsed only by the $82.5 million a state-level super PAC gave to Never Back Down, the super PAC backing Florida Gov. Ron DeSantis’ ill-fated presidential campaign, Bloomberg reported.

Fox News Digital reached out to Soros’ Open Society Foundations for comment, but did not receive a response.

Soros recently handed control of his political empire last year to his son, Alex, and his various organizations have continued to exert significant financial influence, including millions of dollars aimed at flipping Texas to Democrats.

Fox News Digital reported last fall that a Soros-funded group pushed more than $15 million to a nonprofit tied to President Biden’s main outside super PAC for the 2024 elections to evaluate crucial policy matters.

The Soros network appears to be closely involved in doing what it can to help ensure President Biden is re-elected, as evidenced by Alex Soros huddling with high-ranking Democrats shortly after taking over the Open Society Foundations.

Alex’s social media profiles have dozens of pictures of him and leading House and Senate Democrats since 2018. The two who appear the most are Senate Majority Leader Chuck Schumer of New York and then-House Speaker Nancy Pelosi of California. Alex had at least nine meetings with Schumer, whom he referred to as his ‘good friend.’  

Alex had at least eight visits with Pelosi, calling her the ‘greatest Speaker of the House in American History!’ 

Fox News Digital’s Joe Schoffstall and Cameron Cawthorne contributed to this report.

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Russian President Vladimir Putin joined international calls for cool heads in the Middle East as tensions remain high following Iran’s unprecedented attack on Israel over the weekend. 

‘Vladimir Putin expressed hope that all sides would show reasonable restraint and prevent a new round of confrontation fraught with catastrophic consequences for the entire region,’ the Kremlin said in a readout of a call with Iranian President Ebrahim Raisi, according to a translation by The Moscow Times.  

‘Ebrahim Raisi noted that Iran’s actions were forced and limited in nature: At the same time, he stressed Tehran’s disinterest in further escalation of tensions,’ the Kremlin added. ‘Both sides stated that the root cause of the current events in the Middle East is the unresolved Palestinian-Israeli conflict.’ 

‘In this regard, the principled approaches of Russia and Iran in favor of an immediate ceasefire in the Gaza Strip, easing the difficult humanitarian situation, and creating conditions for a political and diplomatic settlement of the crisis were confirmed,’ the Kremlin concluded, adding that the call discussed ‘in detail’ the airstrike on Iran’s consulate in Damascus.

On Saturday night, Iran launched hundreds of drones and a mixture of cruise and ballistic missiles in retaliation for strikes against its diplomatic mission, or, as other reports claim, an adjoining Islamic Revolutionary Guard Corps (IRGC) compound in Damascus. 

The strike killed seven IRGC members, including Gen. Mohammad Reza Zahedi, the senior commander of the forces since the assassination of Gen. Qasem Soleimani in 2020.

Israel never took credit for the strike, but other countries, including the United States, attributed the attack to the Jewish state. 

Israeli Prime Minister Benjamin Netanyahu reportedly wanted to retaliate directly, but he changed his plans after President Biden told him to ‘take the win’ and stressed the U.S. would not support any direct response to Iran’s strike. Instead, Israel struck Hezbollah sites in southern Lebanon. 

However, Israel continued to stress a desire and intent to retaliate against Iran, with Israeli Minister of Defense Yoav Gallant telling U.S. Defense Secretary Lloyd Austin on Sunday that Israel had no choice but to respond. 

The Israel Defense Forces’ (IDF) Chief of Staff Gen. Herzi Halevi added on Monday that ‘Israel is considering next steps’ and that ‘the launch of so many missiles and drones to Israeli territory will be answered with retaliation,’ Axios reported. 

The insistence on retaliation, despite pressure from Israel’s closest and arguably most vital ally to do otherwise, continues to worry the international community. 

‘The Middle East is on the brink,’ United Nations Secretary-General António Guterres told a Security Council meeting called on Sunday in response to the strikes. ‘The people of the region are confronting a real danger of a devastating full-scale conflict. Now is the time to defuse and de-escalate.’ 

Biden has continued to increase his pursuit of a ceasefire deal, telling Iraq’s prime minister that the U.S. is ‘committed to a ceasefire that will bring the hostages home and prevent the conflict from spreading beyond what it already has.’

‘The United States is committed to Israel’s security,’ the president said, according to a readout of the phone call. White House national security communications spokesperson John Kirby told reporters that the president is ‘certainly not looking for a war with Iran, and I am confident that Prime Minister Netanyahu is aware of the president’s concerns.’ 

Reuters contributed to this report.

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The foreign aid plan Speaker Johnson, R-La., unveiled on Monday night is already facing a growing red wave of opposition from his own colleagues as of Tuesday morning, making it likely he will have to seek House Democratic support to get the proposal passed.

Under Johnson’s tentative plan, aid for Ukraine, Taiwan and Israel would all be considered as separate bills. A fourth bill would combine miscellaneous national security priorities, including the House’s recently passed bill that could pave the way to a TikTok ban and the REPO Act, a bipartisan measure to liquefy seized Russian assets and send that money to Ukraine.

A lack of any border security measures, however, has prompted even reliable leadership allies to be wary of letting the bills move forward.

‘I’m thinking of voting against the rule,’ Rep. Nicole Malliotakis, R-N.Y., told Fox News Digital. ‘Unless we vote to send something to the Senate the same day that addresses the border, requires the president to take action on his executive orders. Or we can put something with the underlying legislation that would actually do a couple of things – we can stop money from going to NGOs that are transporting individuals, we can stop Homeland Security from releasing criminals into the interior.’

While the four bills are designed to get separate House floor votes, they will first have to pass a procedural hurdle known as a rule vote, a House-wide measure that if passed will allow for debate and eventual votes on the four individual pieces. 

Rule votes traditionally fall along party lines, and with Johnson’s razor-thin majority, he can only afford to lose two Republicans on any party-line vote – and it’s becoming increasingly likely that he might, meaning Democrats will need to break precedent to help get the bills over the line.

Rep. Marjorie Taylor Greene, R-Ga., whose disagreements with Johnson have led her to threaten his leadership role, said on Tuesday morning that she would vote against the rule unless the Democrat-controlled Senate took up the House GOP’s comprehensive border security bill known as H.R.2 – which Democrats have panned as a nonstarter.

‘NO, I am NOT voting for the rule on Johnson’s bundle of funding bills for billions more to Ukraine and other foreign wars. When Joe Biden signs HR2 into law and Schumer holds the Mayorkas impeachment trial in the Senate, I will agree to vote for the rule only,’ Greene said on X. ‘Speaker Johnson is not holding Democrats accountable nor leading our Republican majority, he’s actually giving in to Democrats every demand. And he’s using dirty swamp tactics to push through the America Last agenda.’

Rep. Warren Davidson, R-Ohio, a member of the ultra-conservative House Freedom Caucus, would not say how he would vote on the rule but told reporters, ‘The rule that was proposed last night at conference will fail.’

Other critics of foreign aid similarly declined to say how they would vote but signaled they were opposed to Johnson’s proposal itself.

‘I think it leaves much to be desired. It doesn’t have border control in it, it doesn’t have any pay-fors in it,’ Rep. Andy Harris, R-Md., told Fox News Digital. ‘I think those are two problems.’

Other Republicans, however, argued it’s a better plan than the Senate-passed $95 trillion supplemental aid package that its leaders are now pressuring Johnson to take up.

‘No one wants to swallow the senate supplemental as a whole, and if we wait any longer without taking any action, that’s exactly what’s going to happen,’ Rep. Nick Langworthy, R-N.Y., told Fox News Digital.

Rep. Anthony D’Esposito, R-N.Y., urged his colleagues to remember that they had already passed H.R.2 and have furiously been pushing for Democrats to take it up. He also told Fox News Digital that there were ‘conversations’ about including border provisions before the text is released.

‘I think we’re in a critical time that, obviously, our allies need our support more than ever, and I hope that there’s a way that we could include more border security into these packages,’ D’Esposito said. ‘But I think we need to remind ourselves that we’ve as House Republicans done our job. We sent a comprehensive border bill over to the Senate. They have failed to act.’

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In this edition of StockCharts TV‘s The Final Bar, Dave shares a brief history of Bitcoin halving and relates it to the short-term and long-term technical outlook on this significant development for cryptocurrencies. He also focuses on stocks testing their 50-day moving averages, including NFLX, SMCI, and MSTR.

This video originally premiered on April 16, 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.

Leading chip designer Advanced Micro Devices, Inc. (AMD) is at a critical juncture, one which could go either way depending on the dynamics of the market and its specific industry. The stock’s technical and fundamental indications are not only mixed, but on opposite extremes.

Now that AMD’s price has fallen to a key level, bullish investors may wonder if it’s wise to buy the dip or avoid a falling knife.

AMD’s Technical vs. Fundamental Outlook

AMD’s technical strength is rapidly declining: with a StockCharts Technical Rank (SCTR) score of 89.9, the chipmaker is showing up on bearish scan results, including the P&F Double Bottom Breakdown, P&F Descending Triple Bottom Breakdown, and Stocks in a New Downtrend (ADX), all of which can be found on the StockCharts Sample Scan Library.

Fundamentally, a ray of light shone on Tuesday when AMD unveiled its latest new processors designed to power AI-enabled PCs—Ryzen Pro 8040 (laptop) and the Ryzen Pro 8000 (desktop)—which the company claims are the most powerful chips for business computing. If they perform as AMD expects, these chips can potentially catapult AMD’s position against rivals Nvidia (NVDA) and Intel (INTC) in the generative AI arena.

What are analysts saying about upside price targets? There’s a vast range: from $180 to $270. To be fair, bearish analyst targets are also well below current prices, around $110 to $120. So, even if you’re bullish, consider the downside projections (and why some analysts might be bearish).

The Macro View

While AI technology had simmered in the tech undercurrents for years, the AI arms race ignited on November 30, 2022, with OpenAI’s release of ChatGPT. Powered by Nvidia’s powerhouse GPUs, this watershed moment marked a seismic shift in the semiconductor industry.

CHART 1. WEEKLY CHART OF AMD: The blue vertical line marks the week ChatGPT was released to the public, creating a fierce competitive environment among chipmakers.Chart source: StockCharts.com. For educational purposes.

While many semiconductor stocks fell at the end of November 2022 due to geopolitical hurdles (US export restrictions to China) and general expectations of an economic slowdown, this also marked the moment when AMD began significantly underperforming NVDA (soon to become the top AI chip producer).

Against NVDA, AMD is underperforming by over -68%. However, AMD managed to overtake Intel (INTC) by a stunning 731%. Relative to the Dow Jones U.S. Semiconductors Index ($DJUSSC), AMD’s performance is declining, though still leading the average by 48%. And against the S&P 500 ($SPX), AMD’s performance is up 238%.

Looking at the technicals from a macro view, is AMD in a downtrend or a near-term dip?

Is it Time to Buy the Dip?

CHART 2. DAILY CHART OF AMD. AMD may be in a relatively deep decline, but the momentum, support levels, and fundamental story tell a different story. Chart source: StockCharts.com. For educational purposes.

The fundamental story fueling a potential bounce is more important than the technical indications of a bullish reversal. AMD broke below support levels of $170 and (below that) $165, both bearish indications for the chipmaker.

As the Relative Strength Index (RSI) steadily approaches the 30 line (which marks the oversold threshold), note the rising buying pressure, as indicated by the Chaikin Money Flow (CMF) climbing above the zero line—a signal that buyers are now entering the market.

AMD is resting right above a critical Fibonacci retracement level (50%), which explains why more technically inclined buyers might have begun accumulating shares of the stock (the 61.8% to the 50% levels are often buy targets for bullish traders looking to go long).

What This Means for Your Portfolio

So, does this mean you should buy the dip? It depends on how bullish you are on AMD and why you might have a bullish bias. Perhaps waiting for a stronger bounce with more significant momentum may be the thing to watch if you are. AMD is in a buying range, but how you approach accumulating the stock depends on you and your strategy.

Also, note that AMD’s earnings report is on April 30. Monitor the action leading to and/or following the report.

The Bottom Line

AMD is at a crucial juncture, balanced between tepidly bearish technical signals and promising fundamentals from its latest AI-capable processors. The broader semiconductor sector’s struggles—sparked by geopolitical tensions and economic fears since ChatGPT’s launch—frame AMD’s precarious market stance. Whether to buy the dip hinges on whether you believe AMD can redefine its competitive edge, jump ahead of its rivals, and challenge NVDA. AMD is within buy range, but you may want to nuance your entry if you’re itching to go long. Be sure to add AMD to your StockCharts ChartList.

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.

Amazon.com’s Amazon Web Services, the world’s largest cloud-service provider, owes tech company Kove $525 million for violating its patent rights in data-storage technology, an Illinois federal jury said on Wednesday.

The jury determined that AWS infringed three Kove patents covering technology that Kove said had become “essential” to the ability of Amazon’s cloud-computing arm to “store and retrieve massive amounts of data.”

An Amazon spokesperson said the company disagrees with the verdict and intends to appeal.

Kove’s lead attorney Courtland Reichman called the verdict “a testament to the power of innovation and the importance of protecting IP (intellectual property) rights for start-up companies against tech giants.”

Chicago-based Kove sued Amazon in the U.S. District Court for the Northern District of Illinois in 2018. The company said in the lawsuit that it pioneered technology enabling high-performance cloud storage “years before the advent of the cloud.”

Kove alleged that AWS’ Amazon S3 storage service, DynamoDB database service and other products infringed the cloud-storage patents. The jury agreed with Kove on Wednesday that AWS infringed all three Kove patents at issue, though it rejected Kove’s contention that AWS violated its rights willfully.

AWS had denied the allegations and argued that the patents were invalid.

Kove also sued Google last year for infringing the same patents in a separate Illinois lawsuit that is still ongoing.

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Consumer sentiment about the U.S. economy has ticked down but remains near a recent high, with Americans’ outlook largely unchanged this year.

The University of Michigan’s consumer sentiment index, released Friday in a preliminary version, slipped to 77.9 this month, down from March’s figure of 79.4. Sentiment is about halfway between its all-time low, reached in June 2022 when inflation peaked, and its pre-pandemic averages. The survey has been conducted since 1980.

“Consumers are reserving judgment about the economy in light of the upcoming election, which, in the view of many consumers, could have a substantial impact on the trajectory of the economy,” said Joanne Hsu, director of the consumer survey.

The index had dropped to 61.3 as recently as November before jumping in the following two months by the most in more than three decades. It has since moved mostly sideways.

Stronger consumer optimism can sometimes translate into more spending, which typically boosts the economy. Most economists expect consumer spending to remain healthy as long as the job market stays strong.

“Looking beyond the recent minor monthly volatility, sentiment remains on a rising trend,” Oren Klachkin, an economist at Nationwide, said in a research note. “It’s still a positive environment for the consumer.”

Among the respondents to the survey, sentiment fell the most among Republicans. Among independents, it edged down, and it rose slightly among Democrats. Americans’ economic views have become more driven by political partisanship in recent decades.

An increase in gas prices likely contributed to the decline in consumers’ outlook, according to Ian Shepherdson, chief economist at Pantheon Macroeconomics. The average national price of a gallon of gas has jumped about 7% from a month ago, according to AAA, to $3.63 a gallon.

Americans’ perceptions of future inflation also rose, probably reflecting still-high prices. Consumers expect inflation to be 3.1% a year from now, which would exceed the Federal Reserve’s 2% target. Still, that would be below the current level of 3.5%.

Inflation has tumbled from a peak of 9.1% in the summer of 2022 but has remained elevated so far this year. Prices excluding volatile food and energy costs, rose 3.8% in March from a year earlier, the same as in the previous month and well above the Fed’s target.

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Apple’s smartphone shipments dropped about 10% in the first quarter of 2024, hurt by intensifying competition by Android smartphone makers aiming for the top spot, data from research firm IDC showed on Sunday.

Global smartphone shipments increased 7.8% to 289.4 million units during January-March, with Samsung, at 20.8% market share, clinching the top phonemaker spot from Apple.

The iPhone-maker’s steep sales decline comes after its strong performance in the December quarter when it overtook Samsung as the world’s No.1 phone maker. It’s back to the second spot, with 17.3% market share, as Chinese brands such as Huawei gain market share.

Xiaomi, one of China’s top smartphone makers, occupied the third position with a market share of 14.1% during the first quarter.

South Korea’s Samsung, which launched its latest flagship smartphone lineup — Galaxy S24 series — in the beginning of the year, shipped more than 60 million phones during the period.

Global sales of Galaxy S24 smartphones jumped 8%, compared to last year’s Galaxy S23 series during their first three weeks of availability, data provider Counterpoint previously said.

In the first quarter, Apple shipped 50.1 million iPhones, down from 55.4 million units it shipped same period last year, according to IDC.

Apple’s smartphone shipments in China shrank 2.1% in the final quarter of 2023 from a year earlier.

The drop underscores the challenges facing the U.S. firm in its third biggest market, as some Chinese companies and government agencies limit employees’ use of Apple devices, a measure that mirrors U.S. government restrictions on Chinese apps on security grounds.

The Cupertino, California-based company in June will hold its Worldwide Developers Conference (WWDC), where it will highlight updates to the software powering iPhones, iPads, and other Apple devices.

Investors are closely watching for updates on artificial intelligence development at Apple, which has so far spoken little about incorporating the AI technology into its devices. The company earlier this year lost the crown as the world’s most valuable company to Microsoft.

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Shares of Trump Media plunged more than 13% on Monday after the company filed to issue millions of additional shares of stock.

Trump Media’s dramatic slide came as Donald Trump headed to a Manhattan court to begin jury selection for his criminal trial on hush money-related charges. Trump is the majority stakeholder in the company.

Trump Media, which created the Truth Social app and trades under the stock ticker DJT on the Nasdaq, fell nearly 20% last week.

The company’s intent to issue more common stock was made public Monday morning in a “preliminary prospectus” filed to the Securities and Exchange Commission. The shares cannot be issued until a registration statement with the SEC goes into effect.

The filing describes a plan to offer more than 21.4 million shares of common stock, issuable “upon the exercise of warrants,” the filing shows. Stock warrants give their holder the ability to buy shares at a predetermined price within a certain time frame.

Trump Media predicted in the filing that it will receive “up to an aggregate of approximately $247.1 million from the exercise of the Warrants.”

The closing price of Trump Media’s warrants was $13.69 as of Friday, according to the filing. The warrants are being traded on the Nasdaq under the ticker “DJTWW.” That ticker was down more than 8% before the market opened Monday.

The company also seeks to offer the resale of up to 146.1 million shares of stock from “selling securityholders,” 114.8 million of which are held by Trump himself. Trump owns 78.8 million shares of the company, and stands to obtain 36 million “earnout shares” if the stock stays above a certain price for enough trading days.

Trump’s current stake in the company was worth more than $2.2 billion at Monday morning’s share price. Trump is not allowed to sell his shares until a monthslong lockup period expires.

Trump, whose social media following was massively diminished after he switched to Truth Social following his suspension from Twitter and Facebook in 2021, has tried to encourage his followers to flock to the fledgling app. But it is unclear if they have heeded Trump’s call. The company has not publicly released key performance indicators, including the number of active Truth Social users.

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Stocks sold off Friday as inflation and geopolitical worries once again dented investor sentiment on Wall Street. A broad decline in major bank shares also weighed on the market.

The Dow Jones Industrial Average slid 475.84 points, or 1.24%, closing at 37,983.24. The S&P 500 tumbled 1.46% at 5,123.41. The Nasdaq Composite pulled back by 1.62% at 16,175.09.

At one point in the trading session, the Dow was down by nearly 582 points, or 1.51%. The S&P 500 slid as much as 1.75%.

Week to date, the broad market index dropped 1.56%, and the 30-stock Dow fell 2.37%. Meanwhile, the tech-heavy Nasdaq is 0.45% lower for the week.

Markets are generally in good shape so far this year. The Dow is up 0.7% year-to-date. The S&P 500 and Nasdaq are up 8% and 9.5% respectively since the beginning of 2024.

JPMorgan Chase shares declined more than 6% after the banking giant posted its first-quarter results. The bank said net interest income, a key measure of what it makes through lending activities, could be a little short of what Wall Street analysts are expecting in 2024. CEO Jamie Dimon also warned about persistent inflationary pressures weighing on the economy. 

Wells Fargo slipped 0.4% after reporting its latest quarterly figures. Citigroup dropped 1.7% despite posting a revenue beat.

Oil prices continued their rise on reports that Israel is preparing for a direct attack by Iran this weekend, in what would be the biggest escalation of tensions in the region since the outbreak of the Israel-Hamas war last October. U.S. crude settled at $85.66 a barrel after rising above $87.

That, coupled with fresh U.S. imports data, added fuel to inflation concerns that have put pressure on the market.

“We’re getting further risk off sentiment heading into the weekend. You’re seeing there’s a flight to safety trade, with the dollar stronger, and we’re seeing equities sell off,” said Rob Haworth, U.S. Bank Wealth Management senior investment strategist.

“That comes on the heels of the inflation data that tells us the economy’s still pretty hot and inflation is sticky; that’s what led [investors] to really adjust their expectations around the Fed. … That’s some of why they’re getting cautious headed into the weekend,” said Haworth.

Consumers are also growing worried about the persistent inflationary pressures. The consumer sentiment index for April came in at 77.9, below the Dow Jones consensus estimate of 79.9, according to the University of Michigan’s Surveys of Consumers. Year-ahead and long-run inflation expectations also ticked up, reflecting frustrations over sticky inflation.

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