Breaking
Wealth World News
Archive

2025

Browsing
Politics

‘Blatantly unconstitutional’: US judge temporarily blocks Trump’s ban on birthright citizenship

A federal judge in Seattle on Thursday temporarily blocked President Donald Trump’s executive order banning birthright citizenship for children of illegal immigrants, describing the action as ‘blatantly unconstitutional.’

The decision by U.S. District Judge John Coughenour, a Ronald Reagan appointee, comes in response to four U.S. states — Arizona, Illinois, Oregon and Washington — who sued to block Trump’s executive order, which was signed by Trump shortly after being sworn in as president. 

Coughenour said Thursday that the executive order banning birthright citizenship ‘boggles the mind,’ and told the court he could not remember in his more than 40 years on the bench seeing a case so ‘blatantly unconstitutional.’

The 14-day restraining order granted by Coughenour will apply to the entire U.S. 

The ruling is a blow to the new Trump administration, and comes as 22 U.S. states and immigrants rights groups have sued the Trump administration over the ban on birthright citizenship, arguing in court filings that the executive order is both unconstitutional and ‘unprecedented.’

Trump’s ban is slated to come into force Feb. 19, and would impact the hundreds of thousands of children born in the U.S. annually.

Trump’s order seeks to clarify the 14th Amendment, which states: ‘All persons born or naturalized in the United States, and subject to the jurisdiction thereof, are citizens of the United States and of the State wherein they reside.’

It clarifies that those born to illegal immigrant parents, or those who were here legally but on temporary nonimmigrant visas, are not citizens by birthright.

The U.S. is one of roughly 30 countries where birthright citizenship is applied. 

States who have challenged the law have argued that the 14th Amendment does in fact guarantee citizenship to persons born on U.S. soil and naturalized in the U.S. 

 This is a breaking news story, more updates to come.

This post appeared first on FOX NEWS
Keep Reading
By
Stocks

NVDA, TSMC, and Broadcom: Top Semiconductor Plays as SMH Hits New Highs

In the last quarter of 2024, semiconductors have been walking a tightrope between tariff fears and supply chain uncertainties. Geopolitical tensions between the US and China cast a long shadow over the industry, holding our proxy, VanEck Vectors Semiconductor ETF (SMH), in a consolidated range from October 2024 through January.

However, with new policies and developments in Washington, the narrative has shifted, as evidenced by SMH’s upside breakout in this weekly chart.

FIGURE 1. WEEKLY CHART OF SMH. The new narratives in DC have injected a fresh dose of optimism into the semiconductor industry, causing SMH to break out of its 3-month range.

SMH broke above resistance at the $261 level and is on its way toward testing its all-time high of $281.82.

What changed the narrative?

Four factors have likely contributed to this renewed optimism in semiconductors:

Tariffs on China may not be as severe as initially expected.The $500 billion “Stargate” AI initiative has sent AI-related chipmakers higher.The new administration’s economic policies, including tax cuts, deregulation, and increased government spending, have sparked a broad market rally, benefiting tech.A renewed push for reshoring and domestic semiconductor manufacturing is seen to reduce risks, positioning US chipmakers for long-term growth.

With these factors in play, let’s examine three semiconductor stocks — Nvidia (NVDA), Taiwan Semiconductor Company (TSM), and Broadcom (AVGO) — all of which are positioned to benefit from these changes.

FIGURE 2. SIX-MONTH PERFCHARTS VIEW OF SMH, NVDA, TSM, AND AVGO.  Note AVGO’s jump in December.Chart source: StockChars.com. For educational purposes.

Using StockCharts’ PerfCharts charting tool, you can view a comparative performance of these stocks against our industry proxy SMH. All three stocks began outperforming their chip industry peers, but only AVGO made a notable jump in December.

So, let’s look at a daily chart of AVGO’s price action.

FIGURE 3. DAILY CHART OF AVGO. It’s a technically strong stock that may be due for a pullback.Chart source: StockChars.com. For educational purposes.

Strong financial performance and significant advancements in proprietary AI tech drove the company’s 40% jump in December.AVGO’s StockCharts Technical Rank (SCTR) score rose above the 90-line threshold, signaling bullishness across multiple indicators and timeframes.

Yet there are signs indicating near-term weakness.

The Money Flow Index (MFI) is declining as AVGO attempts to rally above its all-time high of $251; a bearish divergence suggesting the likelihood of a pullback.The Accumulation/Distribution Line (ADL) on the chart (pink line) has dropped below the price action, indicating a drop in money flow which can precede a price decline.

Nevertheless, AVGO remains a technically strong stock with a promising outlook in light of the current AI developments. If you’re considering a long position, use the Quadrant Lines to help decide your entry point. A pullback that holds within the top two quadrants signals strength and may present a solid buying opportunity. However, if AVGO falls below the middle line into the third quadrant, it could indicate weakness, warranting a reassessment of the stock’s momentum and overall bullish thesis.

Next, let’s shift over to a daily chart of TSM.

FIGURE 4. DAILY CHART OF TSM. It’s been smooth sailing, and if the advance continues, it’s crucial to find a near-term entry point.Chart source: StockChars.com. For educational purposes.

TSM is well-positioned to benefit from the developments and policy changes discussed earlier in this article. As the world’s largest semiconductor foundry, TSM plays a crucial role in AI chip manufacturing. Additionally, its expansion into the US includes new facilities in Arizona, which can help mitigate some supply-chain risks, though Taiwan remains its primary hub.

TSM has notched an all-time high.Its SCTR reading is just below the ultra-bullish 90 threshold.Its Relative Strength Index (RSI) reading suggests steady upward momentum with plenty more room to run (before entering overbought territory).

If you’re considering entering a long position in TSM, you might wait for a retracement to the middle Bollinger Band, as it recently closed above the upper band. According to John Bollinger, the indicator’s developer, the bands should contain 88–89% of price action, which makes a move outside the bands significant.

Last but not least, here’s a daily chart of Nvidia (NVDA), the world’s leading AI chipmaker.

FIGURE 5. DAILY CHART OF NVDA. Momentum and volume are dwindling as price looks to be trading rangebound.Chart source: StockChars.com. For educational purposes.

NVDA is arguably the most favored AI chip stock on Wall Street. Nevertheless, the Chaikin Money Flow (CMF) and RSI indicate that the stock’s volume and momentum appear subdued, suggesting the market may be waiting for a catalyst to drive the next move.

While NVDA’s attempt to break above its all-time high of $153 appears to be waning, keep a close eye on support at the $130 range. A close below this, should that happen, can lead to further downside. The next level of support below that line would be near $115.

At the Close

Add SMH, AVGO, TSM, and NVDA to your ChartLists and monitor the key levels closely. Stay updated on news and policy developments from the new administration, as these could impact the semiconductor industry. While market sentiment remains bullish, watch for key technical levels and potential catalysts that could drive further upside—or signal a shift in momentum.

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.

Keep Reading
By
Business

Retail crime ‘queenpin’ to pay millions in restitution to retailers for theft ring

The California mom who pleaded guilty to running an organized retail crime ring that stole millions of dollars in beauty products from Ulta Beauty and Sephora to resell on Amazon will now have to pay those retailers back as part of her sentence.

Michelle Mack, who began her five-year prison sentence on Jan. 9 following her arrest outside of San Diego in December 2023, was ordered to pay $3 million in restitution to Ulta, Sephora and a number of other retailers after striking a plea deal with prosecutors last year. 

As part of the deal, Mack, 54, forfeited her 4,500-square-foot mansion in Bonsall, California, which was sold in December for $2.35 million, property records show. 

Any funds left from the sale, after bank debts were satisfied, will go toward restitution, while Mack and her husband Kenneth Mack, 60, will pay back the remainder “over time,” California Attorney General Rob Bonta’s office said. 

It’s not clear if Mack had a mortgage on the property, but she originally purchased it for $2.29 million in 2021, according to property records.

It’s also not clear how the restitution will be divvied up among Mack’s victims. The crime ring she admitted to running primarily targeted Ulta stores, but it stole from other retailers, including Sephora.

When compared with the net income that retailers like Ulta bring in annually, the restitution is likely a drop in the bucket — but it would still be a small windfall. Ulta declined to comment on the restitution, including how it would use the funds or account for them in financial statements. The company did say it was proud to have partnered with law enforcement officials on the investigation and was grateful for their efforts. 

“This case demonstrates that through close partnerships between retailers, law enforcement and prosecutors, as well as legislative support, we can make a meaningful impact on organized retail crime and hold the criminals perpetuating this problem accountable,” Dan Petrousek, senior vice president of loss prevention at Ulta Beauty, said in a statement. 

Sephora didn’t return a request for comment. 

David Johnston, vice president of asset protection and retail operations at the National Retail Federation, said restitution is common for retailers, victimized by theft, but the amounts only recently started reaching the millions.

“The level of theft … has not been as substantial and as commonplace as we’ve seen over the last, you know, four years or so,” said Johnston. “This is going to be what we would expect to see when we start to get these organized retail crime groups through the judicial process. It is a substantial amount of loss, a complex organization, which involves a number of individuals, and then sentencing and restitution that meet the crime.” 

He cautioned that restitution rarely makes up for a retailers’ lost income in full, and it can take years for a defendant to pay back the fines entirely.

“Restitution is part of the judicial process, but it does not guarantee that the victim will receive all or any funds,” said Johnston. “It’s dependent upon the ability to obtain that restitution from the offender and the process in which that restitution is in fact paid and shared across multiple victims.” 

Last year, Bonta filed a slew of felony charges against Mack and her husband, alleging they ran what his office called a sprawling retail crime ring that led to an estimated $8 million in stolen beauty products, CNBC previously reported. The operation spanned at least a dozen states, CNBC reported.

Mack wasn’t accused of stealing the products herself. Instead, police said she recruited a crew of young women to take the items so she could resell the products on her Amazon storefront for a fraction of their retail price. 

The investigation, led by the California Highway Patrol, gained national attention and revealed the sophisticated nature behind some retail crime rings and how bad actors can use online marketplaces to sell stolen products. 

Last summer, Mack was sentenced to five years and four months in state prison, but was given a delayed sentence that began this month. Mack’s husband, Kenneth, was also sentenced in connection with the case, so the judge agreed to postpone her sentence so she could care for their children while Kenneth was incarcerated. 

Additional reporting by Scott Zamost and Courtney Reagan

This post appeared first on NBC NEWS
Keep Reading
By
Sports

Mikaela Shiffrin returns to World Cup circuit after crash

After fearing she might not be able to return this season, Mikaela Shiffrin is ready to race.

Shiffrin’s next victory will be the 100th of her career. She’s won seven times at Courchevel, including two wins in slalom.

Shiffrin made her announcement Thursday morning with a video of herself in the gym and back on snow. The last frame had ‘Courchevel 1/30 … See you soon.’

‘It’s been a little bit uncertain whether I could even return this season. But I’ve been able to get on snow, I’ve been able to train a little bit the last week or so,’ Shiffrin said in an interview on the TODAY show.

Shiffrin said she still isn’t 100% and will probably be dealing with the effects of the injury for the rest of the year. But she’s no longer in pain and was able to ‘ski with intensity’ during GS training on Monday. That gave her confidence to race again.

‘I was worried about how that would go because this crash happened during GS and the implications of getting back in a GS start, I wasn’t sure how that was going to feel. It felt pretty good,’ she said. ‘The next step is racing. That’s the next step of this recovery. So the recovery is not really over but I’m strong enough to get back in the start gate.’

After winning twice in her first three races this year, the expectation was that Shiffrin would get her 100th victory in Killington, one of her favorite venues and a two-hour drive from the Burke Mountain Academy that she attended as a teenager. All was going according to plan after the first run in the giant slalom, where she took a comfortable lead over Sara Hector of Sweden.

But less than 15 seconds from the finish line of the second run, Shiffrin lost an edge. She slammed into one gate and somersaulted into another before coming to a stop in the safety netting. She spent about 20 minutes on the hill before being taken down on a sled.

Shiffrin also said there was some concern she’d damaged her colon because the puncture occurred close to it and there were some air bubbles. But an examination after she returned home to Colorado showed it was fine.

‘We would have seen symptoms sooner but it’s just good to have that confirmation,’ she said.

Shiffrin had another surgery Dec. 12 to clean out the wound.

Shiffrin said at the time of the crash it would be ‘several weeks’ before she’d be back to racing. She missed the slalom in Killington the day after the crash, as well as the World Cup stop at Beaver Creek on Dec. 14-15, the first time the women raced the famed Birds of Prey course.

She’s missed six slalom and giant slalom World Cup races since the beginning of the year and is likely out of the running for the overall title this year. She’s currently 16th in the overall standings, and ninth in the slalom standings.

Still, just being able to race again is a win, though she tried to temper expectations.

‘I haven’t really skied for the last seven weeks,’ she said. ‘I’m coming back into competitions with the best athletes in the world, with the World Cup athletes, and trying to hold my own against that. They’ve been skiing and are in totally top form, and I’m coming back from ripping my oblique in half.’

This post appeared first on USA TODAY
Keep Reading
By
Sports

American faces No. 1 player in Australian Open men’s semis: How to watch

It has been more 22-years since an American man has won the Australian Open. American Ben Shelton is one step closer to ending that drought after advancing to the semifinals in Melbourne, but he will have to go through the defending Australian Open champion to do so.

No. 21 seed Shelton will face off against No. 1 seed Jannik Sinner in one of two men’s semifinals on Friday for a spot in the final. The winner will face either No. 2 seed Alexander Zverev or No. 7 seed Novak Djokovic in the final for the Norman Brookes Challenge Cup.

Shelton, the last American man remaining in the draw, is looking to win his first major and become the first Amerian man to win the Australian Open since Andre Agassi in 2003.

Meanwhile, Sinner is vying for his second consecutive Australian Open title and third major overall. Sinner came back from two sets down to defeat Daniil Medvedev in five sets to win the 2024 Australian Open. The world No. 1 also won the 2024 U.S. Open.

AUSTRALIAN OPEN BRACKET: Full schedule, results, TV times

Shelton, 22, said he’s expecting a ‘really tough matchup’ against Sinner. ‘Anytime you get to line up with the best in the world, it’s a great opportunity to improve your game and see where you are at,’ Shelton added.

Sinner, 23, was equally complimentary of his opponent, describing Shelton as ‘one of the best servers on tour.’

Here’s everything to know about the semifinal matchup:

When is Australian Open men’s semifinal?

The match featuring Novak Djokovic and Alexander Zverev is scheduled to start at 10:30 p.m. ET on Thursday (2:30 a.m. in Melbourne).

The matchup between Jannik Sinner and Ben Shelton is scheduled for Friday at 3:30 a.m. ET (7:30 p.m. in Melbourne).

How to watch Ben Shelton vs. Jannik Sinner

The men’s semifinal will be broadcast live on ESPN and also can be streamed live on ESPN+ or the ESPN app. You can also stream matches in Fubo, which is offering a free trial.

Watch the Australian Open with a Fubo subscription

Ben Shelton’s path to Australian Open semifinal

Tournament’s No. 21 seed

1st round: Defeated Brandon Nakashima 7-6 (7-3), 7-5, 7-5
2nd round: Defeated Pablo Carreno Busta 6-3, 6-3, 6-7 (4-7), 6-4
3rd round: Defeated (16) Lorenzo Musetti 6-3, 3-6, 6-4, 7-6 (7-5)
4th round: Defeated Gael Monfils 7-6 (7-3), 6-7 (3-7), 7-6 (7-2), 1-0, Retired
Quarterfinals: Defeated Lorenzo Sonego 6-4, 7-5, 4-6, 7-6 (7-4)

Jannik Sinner’s path to Australian Open semifinal

Tournament’s No. 1 seed

1st round: Defeated Nicolas Jarry 7-6 (7-2), 7-6 (7-5), 6-1
2nd round: Defeated Tristan Schoolkate 4-6, 6-4, 6-1, 6-3
3rd round: Defeated Marcos Giron 6-3, 6-4, 6-2
4th round: Defeated (13) Holger Rune 6-3, 3-6, 6-3, 6-2
Quarterfinals: Defeated (8) Alex de Minaur 6-3, 6-2, 6-1 

Sinner vs. Shelton head to head

Sinner leads the head-to-head matchup against Shelton, 4-1. Shelton upset Sinner 2-6, 6-3, 7-6 (7-5) in their first ever matchup at the Shanghai Masters in October 2023, but Sinner has defeated Shelton the last four times they have played.

Their most recent meeting was in the fourth round of the Shanghai Masters in October, with Sinner coming away with a  6-4, 7-6 (7-1) victory on the outdoor hard court on Shelton’s 22nd birthday.

What does Australian Open winner receive?

Both the men’s and women’s singles champions will earn the same amount of money for winning the Australian Open. The winner will take home $2.199 million ($3.5 million Australian dollars), with the runner-up pocketing $1.193 million ($1.9 million AUD).

The USA TODAY app gets you to the heart of the news — fast. Download for award-winning coverage, crosswords, audio storytelling, the eNewspaper and more.

We occasionally recommend interesting products and services. If you make a purchase by clicking one of the links, we may earn an affiliate fee. USA TODAY Network newsrooms operate independently, and this doesn’t influence our coverage.

This post appeared first on USA TODAY
Keep Reading
By
Politics

Survivor of Nova music festival Hamas terror attack wins slot to represent Israel at Eurovision

A survivor of the Nova music festival terrorist attack by Hamas Oct. 7, 2023, has channeled her therapeutic journey through music and on Thursday secured the slot to represent Israel at the Eurovision Song Contest in Basel, Switzerland.

Yuval Raphael, 24, reportedly began singing as a way to cope with the trauma she endured after she, four of her friends and roughly 40 others attempted to hide in a roadside bomb shelter near Kibbutz Re’im after they fled the festival by car after the attack. 

Raphael, who was forced to hide under the bodies of those killed in front of her for about eight hours before help arrived, has shared her story and described how Hamas terrorists repeatedly returned to the bomb shelter and opened fire on those hiding inside. 

Eventually, the terrorists began throwing grenades into the concrete shelter, a story similar to what dozens endured that day, including American-Israeli Hersh Goldberg-Polin.

‘Music is one of the strongest ingredients in my healing process,’ she said during the competition Thursday, The Times of Israel reported.

Despite having no previous experience as a singer, Raphael secured her top spot after singing ‘The Writings on the Wall’ followed by a rendition of ABBA’s ‘Dancing Queen’ dedicated to ‘all the angels’ killed in the October 2023 terrorist attack.  

Raphael had previously garnered international attention not with her powerhouse voice but by sharing her experience with the United Nations Human Rights Council in a move she said was not politically motivated but an attempt to bring attention to what innocent civilians endured that tragic day. 

‘I want to tell them the story of the country, of what I went through, of what others went through,’ she reportedly said ahead of the final. ‘I want to tell the story, but not from a place of seeking pity. I want it to be from a place of standing strong in the face of this and in the face of the boos I’m 100% sure will come from the crowd.’

Raphael’s comments were in reference to the pushback she and other Israelis have faced during the international competitions, including in 2024, following the terrorist attack and subsequent Israel Defense Forces’ (IDF) operations in Gaza.

Israel has faced calls to be banned from the international competition, but the European Broadcasting Union has rejected the push, affirming that Eurovision is a non-political music event. The 2024 Israeli contestant, Eden Golan, faced anti-Israeli protests and had to be granted a Shin Bet security detail.

Golan was also required to change the name of her song, ‘October Rain,’ to ‘Hurricane’ because event officials believed it was too political, The Times of Israel reported.

This post appeared first on FOX NEWS
Keep Reading
By
Politics

John Ratcliffe confirmed as next CIA director, becomes second Trump nominee to gain congressional approval

John Ratcliffe was confirmed to be the next director of the Central Intelligence Agency (CIA) on Thursday, making him the second of President Donald Trump’s cabinet picks to secure their position. 

By a vote of 74-25, Ratcliffe was confirmed. 

The Senate’s full approval of Ratcliffe came after a 14-3 vote by the Senate Intelligence Committee on Monday evening, which advanced Ratcliffe’s nomination to the Senate floor Thursday. 

Ratcliffe previously served as Trump’s Director of National Intelligence (DNI) from May 2020 until January 2021, during the president’s first term in office. At the time, Ratcliffe faced scrutiny over whether he was adequately qualified for the role and whether his loyalty to Trump might cloud his judgment. Ratcliffe’s eventual nomination was approved along party lines.   

Prior to Ratcliffe’s role as DNI, he was a member of the House of Representatives since 2015, serving Texas’s 4th Congressional District. During Ratcliffe’s tenure in Congress, he served on the House Permanent Select Committee on Intelligence from 2019 until his move to DNI the following year.

Ratcliffe’s confirmation this time around has garnered support from some Democrats, including from the top Democrat on the Senate’s intel committee, Rep. Mark Warner of Virginia, who voted in favor of Ratcliffe’s confirmation.

During Ratcliffe’s first confirmation hearing last week, when lawmakers probed him over how he would handle the role as CIA director if confirmed, Ratcliffe said he would eliminate politicization and ‘wokeness’ in the agency’s workforce. Ratcliffe added that he plans on focusing on the agency’s approach to technology, saying that he thinks it has struggled to keep pace with the tech evolution occurring in the private sector.

Ratcliffe will also take a hawkish stance towards China, according to people close to Ratcliffe, the Wall Street Journal reported last week.

Ratcliffe’s confirmation makes him the second of Trump’s nominees to garner congressional approval, after Marco Rubio. The Republican-controlled Senate said it plans to work overtime to get the rest of Trump’s nominees approved quickly, with Senate Majority Leader John Thune insisting in a post on X, formerly Twitter, Tuesday evening, that they would work ‘nights, weekends, recesses’ until the process is complete.

This post appeared first on FOX NEWS
Keep Reading
By
Politics

Trump expected to pardon pro-life activists convicted under FACE Act

President Donald Trump is expected to pardon pro-life activists convicted under the FACE Act during President Joe Biden’s administration in the coming days.

The pardons, first reported by The Daily Wire, would apply to activists convicted of protesting near abortion clinics during various demonstrations. The details and scope of the pardons have yet to be revealed.

Thomas Ciesielka, a spokesman for the pro-life law firm the Thomas Moore Society, confirmed plans for the pardon to Fox News Digital.

News of the plan comes just one day before the March for Life, an annual pro-life march that takes place in Washington, D.C.

Sen. Josh Hawley, R-Mo., had called on Trump to pardon activists convicted under the FACE Act since the president was sworn into office.

‘No administration in history has targeted Christians like the Biden Admin. We saw one persecution after another, from shutting down churches during COVID to raiding pro-lifers homes at the crack of dawn. EVERY pro-life prisoner Biden wrongly imprisoned should be pardoned,’ Hawley wrote on X.

Hawley said he spoke with Trump about a potential pardon plan on Thursday morning, saying they had a ‘great conversation.’

Sen. Mike Lee, R-Utah, has also introduced legislation that would dismantle the FACE Act. Many lawmakers have argued that Democratic administrations have weaponized it against pro-life groups and Christians.

‘97% of FACE Act prosecutions between the years of 1994-2024 were initiated against pro-life Americans; it is laughable to argue that the law hasn’t been weaponized. Let’s put H.R. 589 on the President’s desk and end this once and for all,’ Rep. Chip Roy, R-Texas, said in a statement reacting to the pardon news.

Trump also issued a blanket pardon for nearly all January 6 prisoners shortly after he took the oath of office.

This post appeared first on FOX NEWS
Keep Reading
By
Politics

Moderate Republican Murkowski won’t back Trump pick Hegseth for defense secretary

Sen. Lisa Murkowski, R-Alaska, said on Thursday she can’t support Pete Hegseth to be President Donald Trump’s secretary of Defense. 

‘Given the global security environment we’re operating in, it is critical that we confirm a Secretary of Defense, however, I regret that I am unable to support Mr. Hegseth,’ she concluded in a lengthy statement posted to X. 

In her reasoning, Murkowski cited infidelity, ‘allegations of sexual assault and excessive drinking’ and Hegseth’s previous comments on women serving in the military. 

The behaviors that he has admitted to alone, she said, show ‘a lack of judgment that is unbecoming of someone who would lead our armed forces.’

While Hegseth has admitted to past infidelity, he has denied claims of excessive drinking and sexual assault. 

The Alaska Republican noted that she met with Hegseth ‘and carefully reviewed his writings, various reports, and other pertinent materials.’ 

Further, Murkowski said she ‘closely followed his hearing before the Senate Armed Services Committee and gathered substantial feedback from organizations, veterans, and Alaskans.’

However, ‘After thorough evaluation, I must conclude that I cannot in good conscience support his nomination for Secretary of Defense,’ she said. 

Other GOP senators who have yet to take a public position on Hegseth include Sens. Susan Collins, R-Maine, and former GOP Leader Mitch McConnell, R-Ky.

Collins told reporters on Thursday, ‘I’ll be releasing a statement shortly.’ 

Hegseth will need a simple majority of the Senate to vote in his favor in order to be confirmed. With the Republicans’ 53-seat majority, he can only afford to lose a handful of the conference. If there is a tie, newly sworn in Vice President JD Vance will be needed to cast the tie-breaking vote. 

The move to oppose Hegseth’s confirmation was not unexpected from Murkowski, who has earned a reputation for occasionally bucking her party. 

Fox News was recently told it was possible Hegseth’s confirmation would need Vance’s tie-breaking vote.In particular, Fox News was told to watch McConnell, Collins and Murkowski on the pivotal confirmation vote. 

If McConnell and Collins join Murkowski in voting nay, Vance will need to come to the Capitol to break the tie and confirm Hegseth as Defense Secretary.

 No Vice President had ever broken a tie to confirm a cabinet Secretary until former Vice President Pence did so to confirm Betsy DeVos as Education Secretary on February 7, 2017. Pence also broke ties to confirm former Sen. Sam Brownback (R-KS) as ambassador for religious freedom in 2018. He also broke a tie to confirm current Budget Director nominee Russ Vought as Deputy Budget Director in 2018.

Over the last few days, Hegseth’s nomination has faced new pressure with the revelation of an affidavit from his former sister-in-law that alleged he made his ex-wife Samantha Hegseth fear for her safety. Additionally, a source familiar told Fox News that Samantha had provided a new statement to the FBI, which alleged ‘Pete Hegseth has had and continues to have a problem with alcohol abuse.’

Hegseth maintained his denial of any allegations of alcohol, physical or sexual abuse. 

This post appeared first on FOX NEWS
Keep Reading
By
Stocks

Energy Picks Up and Consumer Discretionary Continues to Lead

I have been traveling in the US since 1/15 and attended the CMTA Mid-Winter retreat in Tampa, FL 1/16-1/17 and then moved to Redmond, WA to work from the Stockcharts.com office this week. Unfortunately, the 40-degree (F) temp drop between Tampa and Seattle left me with a cold and a soar throat so I am skipping this week’s video.

On this daily RRG, I have highlighted the tails for XLE and XLY.

In my “best five sectors” series, XLE entered the top-5 this week, replacing XLK which was pushed down to position 6/ Consumer Discretionary still remains the no 1 sector.

The daily tail for XLE really stands out in terms of length and having both the highest RS-Ratio and highest RS-Momentum readings in the universe.

XLY rotated through lagging and has recently started to pick up again.

The reason why XLY still remains the strongest sector can be seen on the weekly RRG below.

On this time frame, XLY is deep inside the leading quadrant and rolling over as it is losing RS-Momentum, so far the loss of relative strength (RS-ratio) remains limited.

The XLE tail is another story, the rotation here suggests weakness as it is rotating back into the lagging quadrant.

The strength on the daily for XLE and the weakness for XLK have caused them to switch positions. So far that has not been very beneficial yet but time will tell.

But while the sector is now one of the best five we may as well take a look at the individual stocks and see if there are any interesting charts to be found.

Energy – XLE

The RRG (weekly) for Energy stocks shows an evenly spread universe with a bit more tails at higher RS-Ratio levels.

While checking the price charts of symbols showing strong RRG characteristics a few came out as potentially interesting.

EQT Corp – EQT

EQT is well inside the leading quadrant and recently started rolling over. However, the upward break in the price chart opened up a lot of upside potential.

A drop back towards or into the support zone between 48-50 would be an ideal time to look for buying opportunities, if we get there. Any newly formed higher low will confirm the strength of the current move.

Coterra Energy – CTRA

CTRA is somewhat similar. Here also a nice upward break out of a long sideways range which is holding up well. Any setback into the former resistance area, now support, should be seen as a renewed entry opportunity.

CTRA still has some resistance waiting around 32, the level of the 2022 peak.

Baker Hughes – BKR

From the cluster of symbols on leading or weakening around 100 on the RS-Momentum scale, BKR shows a promising chart.

The recent break above its previous high is holding up well while relative strength remains strong. The current, mild, loss of relative momentum seems temporary.

EOG Resources – EOG

EOG is located close to the benchmark with a very short tail and it has just crossed back into the leading quadrant. The upward break in the raw-RS line suggests that there is more relative upside underway.

On the price chart, there is serious overhead resistance just below 140 where several highs have lined up over the past three years. But the in-between-lows during that same period are all higher. This builds a very large ascending triangle which is generally a bullish pattern. The trigger will be the upward break above that horizontal barrier.

The long-term implications show up even better on the monthly chart for EOG

Once that upper boundary is taken out EOG will have some serious upside potential.

#StayAlert, –Julius

Keep Reading
By