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A Greek Odyssey

First of all, I apologize for any potential delays or inconsistencies this week. I’m currently writing this from a hotel room in Greece, surrounded by what I can only describe as the usual Greek chaos. Our flight back home was first delayed, then canceled, then rescheduled and delayed again. So instead of being back at my desk as planned, I’m getting back into the trenches from a small Greek town. But the markets wait for no one, so here we are!

Market Sector Shifts: Tech Takes the Lead

The changes in our top five aren’t massive, but they’re certainly worth noting. Technology has muscled its way back to the #1 spot, nudging Industrials down to second. Communication Services and Utilities are holding steady at positions #3 and #4 respectively. The most interesting move, imho, is Financials re-entering the top five at #5, up from #7 last week.

Real estate remains just outside at #6, while Consumer Staples has dropped out of the top five, landing at #7. Materials and Energy are still bringing up the rear at #8 and #9. In a bit of musical chairs, Consumer Discretionary and Health Care have swapped places — Discretionary now at #10 and Health Care down to #11.

  1. (2) Technology – (XLK)*
  2. (1) Industrials – (XLI)*
  3. (3) Communication Services – (XLC)
  4. (4) Utilities – (XLU)
  5. (7) Financials – (XLF)*
  6. (6) Real-Estate – (XLRE)
  7. (5) Consumer Staples – (XLP)*
  8. (8) Materials – (XLB)
  9. (9) Energy – (XLE)
  10. (11) Consumer Discretionary – (XLY)*
  11. (10) Healthcare – (XLV)*

Weekly RRG

The weekly Relative Rotation Graph (RRG) paints a clear picture of Technology’s strength as it powers further into the leading quadrant. Industrials is still in the lead, but has started to lose some relative momentum — though it’s maintaining the highest RS-ratio reading. Communication Services is showing a clear upward rotation, while Financials and Utilities are inside the weakening quadrant with negative headings (but still above the 100 level, keeping them in the top five).

Daily RRG

  • Technology and Communication Services flexing their muscles in the leading quadrant
  • Industrials inside lagging, but turning back up
  • Financials in improving on a positive heading
  • Utilities rotating back down at a negative heading, close to crossing into lagging

The sector at risk here is clearly Utilities — at least for now.

Technology

The Technology sector chart is showing a very clear breakout above the resistance area around 240. It’s a decisive move, and that old resistance should now act as support. This breakout is mirrored in the relative strength line, which has continued its upward trajectory after breaking out of the falling channel.

Industrials

Industrials are also flexing their muscles, clearing overhead resistance with a nice breakout. The relative strength line, already out of its consolidation pattern, appears to be gaining momentum again. This is starting to drag the RS ratio line higher.

Communication Services

Communication Services is showing a clear upward break over the 105 resistance area. Just like Tech and Industrials, that old resistance is now expected to act as support. The price strength is finally reflected in the relative strength line, which has started to move up against the rising support line. This is causing the RS momentum line to pull up, almost crossing back over the 100 level, which should, in turn, push Communication Services back into the leading quadrant on the weekly RRG.

Utilities

Utilities, one of the defensive sectors in this cyclical power play, has remained static within its range. But in this market, standing still means losing relative strength. The utility sector is becoming increasingly at risk, with its relative strength chart returning to the trading range and heading towards the lower boundary. This is dragging the RRG lines lower.

Financials

Financials, our new entrant in the top five, is still grappling with the old rising support line and overhead resistance level. However, last week’s price action seems to have broken the sector out of a small consolidation pattern. If Financials can now take out the overhead resistance just above 52, it’ll be a powerful sign for this sector.

Portfolio Performance

From a portfolio performance perspective, we’re getting hurt by the strength of the Technology sector. It’s in the portfolio, but not enough to keep up with the S&P 500’s performance. We’re still underperforming by around 8%.

To turn this situation around, we need sustained moves higher by Technology, Communication Services, and potentially Financials. If Consumer Discretionary could join the party at some stage, that would be ideal — but it’s still far off at #10. For now, we’ll have to work with what we’ve got, especially from Tech and Communication Services, with potential boosts from Financials and Industrials. Utilities are likely to be a drag while they remain in the top five, given the current bullish market sentiment.

#StayAlert and have a great week. –Julius


In this video, Mary Ellen spotlights key pullback opportunities and reversal setups in the wake of a strong market week, one which saw all-time highs in the S&P 500 and Nasdaq. She breaks down the semiconductor surge and explores the bullish momentum in economically-sensitive sectors, including software, regional banks, and small-caps. Watch as she highlights top stocks to add to your watchlist, including FedEx, XPO, CHRW, and RL, plus identifies downtrend reversal candidates like AeroVironment (AVAV) and Nike, supported by volume and technical breakouts. In addition, she covers smart entry tactics, examining historical precedent with Coinbase.

This video originally premiered on June 27, 2025. You can watch it on our dedicated page for Mary Ellen’s videos.

New videos from Mary Ellen premiere weekly on Fridays. You can view all previously recorded episodes at this link.

If you’re looking for stocks to invest in, be sure to check out the MEM Edge Report! This report gives you detailed information on the top sectors, industries and stocks so you can make informed investment decisions.

Below is the EB Weekly Market Report that I sent out earlier to our EarningsBeats.com members. This will give you an idea of the depth of our weekly report, which is a very small piece of our regular service offerings. We called both the stock market top in February and stock market bottom in April, and encouraged EB members to lower risk at the time of the former and increase risk at the time of the latter.

There is no better time to experience our service for yourself as we’re currently running a FLASH SALE that offers a 20% discount on annual memberships. The timing to join couldn’t be better as I’ll be providing my Q3 outlook to all EB annual members at 5:30pm ET today. A recording will be provided for those who cannot attend the session live. So if you sign up later today or tomorrow or the next day, we’ll make sure you get a time-stamped copy of the recording.

In the meantime, enjoy this complimentary copy of this week’s report….

ChartLists/Spreadsheets Updated

The following ChartLists/Spreadsheets were updated over the weekend:

  • Strong Earnings (SECL)
  • Strong Future Earnings (SFECL)
  • Strong AD (SADCL)
  • Raised Guidance (RGCL)
  • Bullish Trifecta (BTCL)
  • Short Squeeze (SSCL)
  • Leading Stocks (LSCL)
  • Manipulation Spreadsheet*

*We continued to add more stocks to our Manipulation Spreadsheet and you’ll see that a few have tabs, but do not have data yet. Those 3 are still “under construction”. I also added a “Summary” tab where I’ve begun to sort the individual stocks in order based on a proprietary relative AD ranking system. Don’t ask me what it means yet, because it’s still very much a work in progress as well. I’m looking at the intraday relative performance of individual stocks vs. the benchmark S&P 500. So positive percentages represent better intraday AD performance than the S&P 500, while negative percentages represent the opposite. One thing I’ll be watching is to see if stronger relative AD lines precede relative strength in stocks on a forward-looking basis. It certainly did in the case of both Netflix (NFLX) and Microsoft (MSFT) from several weeks ago when I pointed out what appeared to me to be significant accumulation in March/April when the stock market bottomed. Both NFLX and MSFT have soared since that time. I’ll keep everyone posted on the progress of my research over the next many weeks and months.

Weekly Market Recap

Major Indices

Sectors

Top 10 Industries Last Week

Bottom 10 Industries Last Week

Top 10 Stocks – S&P 500/NASDAQ 100

Bottom 10 Stocks – S&P 500/NASDAQ 100

Big Picture

If you’re a long-term investor, stepping back and looking at the stock market using this 100-year chart enables you to avoid pulling unnecessary sell triggers, because of the media, permabears, negative nellie’s, and all the “news” out there. The above chart never once flashed anything remotely signaling a sell signal and now, here we are, back at all-time highs. Simply put, it filters out all the noise that we hear on a day-to-day basis and keeps our wits about us.

Sustainability Ratios

Here’s the latest look at our key intraday ratios as we follow where the money is traveling on an INTRADAY basis (ignoring gaps):

QQQ:SPY

Absolute price action on both the S&P 500 and NASDAQ 100 has now seen all-time high breakouts, which alone is quite bullish. We want to see aggressive vs. defensive (or growth vs. value) ratios moving higher to indicate sustainability of any S&P 500 advance. In my view, we’re seeing that. But the intraday QQQ:SPY ratio continues to hesitate. A breakout in this intraday relative ratio would most definitely add to the current bullish market environment.

IWM:QQQ

I’m seeing signs of an impending rate cut by the Fed. However, if I’m being completely honest, one signal that we should see is outperformance in small caps and a rising IWM:QQQ ratio. That hasn’t happened – at least not yet. If a rate cut starts to become clearer, I would absolutely expect to see much more relative strength in small caps. Keep an eye out for that.

XLY:XLP

I pay very close attention to the XLY:XLP ratio and, more specifically, this INTRADAY XLY:XLP ratio. This chart helped me feel confident in calling a market top back in January/February. If you recall, that’s when we said it was waaaaay too risky to be long the U.S. stock market. By the time we had bottomed in April, the blue-shaded area highlighted the fact that the XLY vs. XLP ratio had already begun to SOAR! That’s why, on Friday, April 11th, I said I was ALL IN on the long side again.

These signals are golden and, when used in conjunction with all of our other signals, can provide us extremely helpful clues about stock market direction. If these ratios begin to turn lower in a big way, then yes we’ll need to grow more cautious. However, right now, they couldn’t be any more bullish. Expect higher prices ahead.

Sentiment

5-day SMA ($CPCE)

Sentiment indicators are contrarian indicators. When they show extreme bullishness, we need to be a bit cautious and when they show extreme pessimism, it could be time to become much more aggressive. Major market bottoms are carved out when pessimism is at its absolute highest level.

The S&P 500 had struggled a bit once 5-day SMA readings of the CPCE fell to the .55 area, a sign of market complacency and a possible short-term top. We saw a bit of a pullback in June, which many times is all we get during a secular bull market advance. My sustainability ratios are supporting a higher move by stocks and I know from history that overbought conditions can remain overbought. I also know that sentiment does a much better job of calling bottoms than it does calling tops. That’s why I will not overreact every time this 5-day moving average of the CPCE falls back below .55. During Q4 2024, we saw plenty of 5-day SMA readings below .55 and, while the S&P 500 was choppy, bullishness prevailed throughout. So just please always keep in mind that these 5-day SMA readings are our “speed boat” sentiment indicator that changes quite frequently. When it lines up with other bearish or topping signals, we should take note. But reacting to every subtle move in this chart is a big mistake, in my opinion.

253-day SMA ($CPCE)

This longer-term 253-day SMA of the CPCE is our “ocean-liner” signal, unlike our speedboat indicator. This one usually provides us a very solid long-term signal as the overall market environment moves from one of pessimism to complacency and vice versa. Look at the above chart. When the 253-day SMA is moving lower like it is now, it accompanies our most bullish S&P 500 moves. It makes perfect common sense as well. Once this 253-day SMA moves to extremely high levels and begins to roll over, the bears have already sold. We typically have nowhere to go on our major indices, except higher once sentiment becomes so bearish. The opposite holds true when the 253-day SMA reaches extreme complacency and starts to turn higher. We saw that to start 2022, which, at the time, I stated was my biggest concern as we started 2022. If you recall, I said to look for a 20-25% cyclical bear market over a 3-6 month period on the first Saturday in January 2022. The above chart was my biggest reason for calling for such a big selloff ahead of the decline.

These charts matter.

Long-Term Trade Setup

Since beginning this Weekly Market Report in September 2023, I’ve discussed the long-term trade candidates below that I really like. Generally, these stocks have excellent long-term track records, and many pay nice dividends that mostly grow every year. Only in specific cases (exceptions) would I consider a long-term entry into a stock that has a poor or limited long-term track record and/or pays no dividends. Below is a quick recap of how these stocks looked one week ago:

  • JPM – challenging all-time high
  • BA – substantial improvement, would like to see 185-190 support hold
  • FFIV – very bullish action above its 20-month SMA
  • MA – very steady and bullish long-term performer
  • GS – trending higher above 20-month EMA
  • FDX – trying to clear falling 20-week EMA
  • AAPL – monthly RSI at 50, which has been an excellent time to buy AAPL over the past two decades
  • CHRW – 85-90 is solid longer-term support
  • JBHT – would like to see 120-125 support hold
  • STX – long-term breakout in play, excellent trade
  • HSY – breaking above 175 would be intermediate-term bullish
  • DIS – now testing key price resistance in 120-125 range
  • MSCI – monthly RSI hanging near 50, solid entry
  • SBUX – moved back above 50-week EMA, short-term bullish
  • KRE – long-term uptrend remains in play
  • ED – has been a solid income-producer and investment since the financial crisis low in 2009
  • AJG – few stocks have been steadier to the upside over the past decade
  • NSC – continues to sideways consolidate in very bullish fashion
  • RHI – trending down with potential sight set on 30
  • ADM – looks to be reversing higher off long-term price support near 43
  • BG – 65-70 price support held, now looking to clear 50-week SMA to the upside
  • CVS – excellent support at 45 or just below, just failed on bounce at 50-month SMA at 72
  • IPG – monthly RSI now at 37 and also testing 4-year price support near 22.50
  • HRL – long-term price support at 25 and stock now showing positive divergence on monthly chart – bullish
  • DE – one of the better 2025 momentum stocks on this list

Keep in mind that our Weekly Market Reports favor those who are more interested in the long-term market picture. Therefore, the list of stocks above are stocks that we believe are safer (but nothing is ever 100% safe) to own with the long-term in mind. Nearly everything else we do at EarningsBeats.com favors short-term momentum trading, so I wanted to explain what we’re doing with this list and why it’s different.

Also, please keep in mind that I’m not a Registered Investment Advisor (and neither is EarningsBeats.com nor any of its employees) and am only providing (mostly) what I believe to be solid dividend-paying stocks for the long term. Companies periodically go through adjustments, new competition, restructuring, management changes, etc. that can have detrimental long-term impacts. Neither the stock price nor the dividend is ever guaranteed. I simply point out interesting stock candidates for longer-term investors. Do your due diligence and please consult with your financial advisor before making any purchases or sales of securities.

Looking Ahead

Upcoming Earnings

Very few companies will report quarterly results until mid-April. The following list of companies is NOT a list of all companies scheduled to report quarterly earnings, however, just key reports, so please be sure to check for earnings dates of any companies that you own. Any company in BOLD represents a stock in one of our portfolios and the amount in parenthesis represents the market capitalization of each company listed:

  • Monday: None
  • Tuesday: STZ ($29 billion)
  • Wednesday: None
  • Thursday: None
  • Friday: None

Key Economic Reports

  • Monday: June Chicago PMI
  • Tuesday: June PMI manufacturing, June ISM manufacturing, May construction spending, May JOLTS
  • Wednesday: June ADP employment report
  • Thursday: Initial jobless claims, June nonfarm payrolls, unemployment rate & average hourly earnings, May factory orders, June ISM services
  • Friday: None – stock market closed in observance of Independence Day

Historical Data

I’m a true stock market historian. I am absolutely PASSIONATE about studying stock market history to provide us more clues about likely stock market direction and potential sectors/industries/stocks to trade. While I don’t use history as a primary indicator, I’m always very aware of it as a secondary indicator. I love it when history lines up with my technical signals, providing me with much more confidence to make particular trades.

Below you’ll find the next two weeks of historical data and tendencies across the three key indices that I follow most closely:

S&P 500 (since 1950)

  • Jun 30: +34.34%
  • Jul 1: +72.77%
  • Jul 2: +16.76%
  • Jul 3: +77.19%
  • Jul 4: +0.00% (market closed – holiday)
  • Jul 5: +39.40%
  • Jul 6: +22.32%
  • Jul 7: +17.62%
  • Jul 8: -16.29%
  • Jul 9: +76.54%
  • Jul 10: -16.59%
  • Jul 11: +13.23%
  • Jul 12: +36.89%
  • Jul 13: -5.67%

NASDAQ (since 1971)

  • Jun 30: +73.30%
  • Jul 1: +63.18%
  • Jul 2: -47.43%
  • Jul 3: +46.02%
  • Jul 4: +0.00% (market closed – holiday)
  • Jul 5: +7.04%
  • Jul 6: -10.79%
  • Jul 7: +60.19%
  • Jul 8: -10.10%
  • Jul 9: +86.44%
  • Jul 10: -27.94%
  • Jul 11: +11.18%
  • Jul 12: +128.28%
  • Jul 13: +61.52%

Russell 2000 (since 1987)

  • Jun 30: +99.14%
  • Jul 1: +30.53%
  • Jul 2: -113.05%
  • Jul 3: +44.57%
  • Jul 4: +0.00% (market closed – holiday)
  • Jul 5: -4.89%
  • Jul 6: -76.61%
  • Jul 7: +43.95%
  • Jul 8: +37.24%
  • Jul 9: +31.88%
  • Jul 10: -17.39%
  • Jul 11: +29.75%
  • Jul 12: +89.15%
  • Jul 13: +63.13%

The S&P 500 data dates back to 1950, while the NASDAQ and Russell 2000 information date back to 1971 and 1987, respectively.

Final Thoughts

All-time highs are always a time for me to say “I told you so” to the bears, since I’ve been a firm believer that we remain in a secular bull market advance – one in which we should EXPECT to see higher prices and all-time highs. This latest rally is being fully supported by risk-on areas of the market, which will almost certainly lead for more and more all-time highs down the road.

Here are several things I’m watching this week:

  • Jobs. The ADP employment report will be out on Wednesday and the more-closely-watched nonfarm payrolls will be released on Thursday this week since the stock market is closed on Friday. ANY sign of weakness in these reports will begin to put mounting pressure on the Fed to cut rates in late July at their next meeting.
  • Technical Price Action. Any time we’re setting new all-time highs, I start off with a bullish mindset. I only turn bearish if I’m inundated with warning signals. Currently, I see few of those.
  • History. We can now turn our attention to upcoming earnings season and, historically, that’s a bullish thing. Pre-earnings season runs to the upside are common and, if you scroll up and check out historical returns for days over the next couple weeks, you’ll see that July normally performs well – especially the first half of the month.
  • 10-Year Treasury Yield ($TNX). The 10-year treasury yield has been in decline for 3 straight weeks, falling from 4.52% on June 9th to 4.24% just a few minutes ago. The money rotating into bonds is a very strong signal that inflation is NOT a problem. It’s also a signal that the Fed “should be” considering a rate cut at its next meeting.
  • Breakouts. We’ve seen big breakouts in key areas like semiconductors ($DJUSSC), software ($DJUSSW), and investment services ($DJUSSB), but there will be plenty more. Travel & tourism ($DJUSTT) joined the party on Thursday. Banks ($DJUSBK) are on the verge of a breakout. The way I look at it? The more the merrier!

Happy trading!

Tom

Donald Trump must be feeling pretty powerful.

He’s even demanding that Israel cancel the criminal trial of Bibi Netanyahu.

By any objective analysis, whether you like the president or not, he has been on an incredible winning streak for the last two weeks. Everything seems to be breaking his way.

And as he racks up these victories, from the powder keg of the Middle East to the staunchly conservative Supreme Court, he seems to grow bigger and stronger, like some comic book superhero, and then zap his next adversary.

By hitting Iran’s nuclear sites with 30,000-pound bombs – even as we debate the impact – Trump took a risk that stunned the world.

With media liberals and Democrats still in full resistance mode, the coverage has been largely negative, but that doesn’t matter. Since his days as a New York developer, he has been boosted by critical coverage because that drives the news agenda and gets everyone chattering about his preferred topic. 

But telling another country to drop criminal charges against its leader is a whole new level of what his native city calls chutzpah.

Trump posted the following: ‘It is terrible what they are doing in Israel to Bibi Netanyahu. He is a War Hero, and a Prime Minister who did a fabulous job working with the United States to bring Great Success in getting rid of the dangerous Nuclear threat in Iran.’

Netanyahu is in ‘the process of negotiating a Deal with Hamas, which will include getting the Hostages back,’ and Trump wonders how the Israelis could force him ‘to sit in a Courtroom all day long, over NOTHING.’

As Axios points out, Netanyahu is charged with bribery, fraud and breach of trust:  

‘He’s accused of accepting more than $200,000 in gifts from wealthy businessmen, and of granting regulatory benefits worth hundreds of millions of dollars to a telecom tycoon in exchange for favorable news coverage.’

The trial has dragged on for four years, thanks to Netanyahu’s delaying tactics, and there was this war thing that intervened. 

So now Trump has called for the trial to be cancelled or Netanyahu granted a pardon – and done it quite openly. 

Imagine if a foreign head of state urged this country to drop charges against a major political figure. But Trump doesn’t play by everyone else’s rules.

Another Trumpian tactic is to make a big move immediately after a major uproar, when the public and press barely has time to digest the previous controversy. 

So the president cut off trade talks with Canada to protest its taxation of major American tech companies such as Amazon and Google. This involves revenue they earn from online marketplaces, data and social media involving Canadian users.

Before the weekend was out, Canada caved and rescinded the taxes. It’s another case of Trump’s tough-guy negotiating tactics getting instant results.

The not-so-beautiful budget bill in the Senate is another classic case. Elon Musk – did you really think he’d stay quiet for long? – calls it ‘utterly insane’ and ‘political suicide for the Republican Party.’ The CBO says it would add $3.3 trillion to the deficit over a decade. The Senate measure would also make deep cuts in Medicaid, which Trump has vowed to protect. 

Here’s the point: One of the loudest Republican critics is Sen. Thom Tillis, who has been voting against a bill he says would betray the president’s promise to protect those on Medicaid. Trump has trashed him, saying he will recruit a challenger to oust him from the Senate in next year’s primary. 

The next day, literally, Tillis announced that he would not run for reelection. 

So Trump can save his money. He knocked out the North Carolina lawmaker with a couple of postings. 

And then there’s the Supreme Court.

By ruling that local judges cannot issue nationwide injunctions, the court has immensely increased the power of Trump and the executive branch. The 6-3 decision came in the birthright citizenship case, though not on the merits, and tore down one of the last guardrails against unchecked presidential power.

It applies to Democratic presidents too, though far more of these injunctions – 40 – have been brought against Trump just in the opening months of his second term. Joe Biden faced 14 in the first three years of his term.

These injunctions – which have always seemed unfair to me, on both sides – also extend Trump’s winning streak in the high court. He has, after all, appointed three of the six justices that make up the conservative majority.

And that’s not all. SCOTUS ruled that parents with religious objections can pull their children out of public school classrooms when books with LGBTQ themes are being taught.

In yet another decision, the court upheld a Tennessee law banning some forms of transition surgery for transgender youths. Trump has ordered transgender members of the military to leave the service.

Sonia Sotomayor read two blistering dissents from the bench, especially in the birthright citizenship case: ‘Today’s decision is not just egregiously wrong, it is also a travesty of law…No right is safe.’ 

Trump has made clear that he will use expanded powers to be even more aggressive than in the past. Throw in his pressure tactics and funding freezes against elite law firms and Ivy League universities and you have an emboldened president even more determined to stick it to his opponents and detractors.

Of course, even Trump has his limits. The effort to derail Netanyahu’s corruption trial was destined to fail. 

Oh wait.

An Israeli court yesterday canceled this week’s hearings on diplomatic and national security grounds, based on classified information provided by the prime minister and the Mossad spy agency. 

Coincidence?

This post appeared first on FOX NEWS

A deal that had been reached between Sens. Marsha Blackburn, R-Tenn., and Ted Cruz, R-Texas, over how states can regulate artificial intelligence has been pulled from President Donald Trump’s ‘big, beautiful’ bill.

The collapsed agreement would have required states seeking to access hundreds of millions of dollars in AI infrastructure funding in the ‘big, beautiful’ bill to refrain from adopting new regulations on the technology for five years, a compromise down from the original 10 years.

It also included carveouts to regulate child sexual abuse material, unauthorized use of a person’s likeness and other deceptive practices.

Blackburn announced Monday night that she is withdrawing her support for the agreement.

‘For as long as I’ve been in Congress, I’ve worked alongside federal and state legislators, parents seeking to protect their kids online, and the creative community in Tennessee to fight back against Big Tech’s exploitation by passing legislation to govern the virtual space,’ Blackburn said in a statement to Fox News.

‘While I appreciate Chairman Cruz’s efforts to find acceptable language that allows states to protect their citizens from the abuses of AI, the current language is not acceptable to those who need these protections the most,’ she continued. ‘This provision could allow Big Tech to continue to exploit kids, creators, and conservatives.’

Blackburn added: ‘Until Congress passes federally preemptive legislation like the Kids Online Safety Act and an online privacy framework, we can’t block states from making laws that protect their citizens.’

When asked about Blackburn pulling her support for the compromise, Cruz told Punchbowl News the ‘night is young.’

But Blackburn appears to now be co-sponsoring an amendment with Sen. Maria Cantwell, D-Wash., that would completely pull the AI moratorium from the bill.

Cantwell had earlier said that the since-scrapped deal between Blackburn and Cruz would do ‘nothing to protect kids or consumers.’

‘It’s just another giveaway to tech companies,’ Cantwell said in a statement Monday. ‘This provision gives AI and social media a brand-new shield against litigation and state regulation. This is Section 230 on steroids.’

Blackburn is one of several Republicans who have expressed concerns about the 10-year ban on state AI regulation.

Last week, 17 Republican governors wrote a joint letter to Senate Majority Leader John Thune, R-S.D., and House Speaker Mike Johnson, R-La., calling for the pause to be scrapped completely.

‘AI is already deeply entrenched in American industry and society; people will be at risk until basic rules ensuring safety and fairness can go into effect,’ the letter reads. ‘Over the next decade, this novel technology will be used throughout our society, for harm and good. It will significantly alter our industries, jobs, and ways of life, and rebuild how we as a people function in profound and fundamental ways.’

‘That Congress is burying a provision that will strip the right of any state to regulate this technology in any way – without a thoughtful public debate – is the antithesis of what our Founders envisioned,’ it continued.

Some House Republicans also said they do not support the AI provision, including Rep. Marjorie Taylor Greene, who admitted she found out about it a few days after voting for Trump’s spending bill.

‘Full transparency, I did not know about this,’ Greene wrote on X. ‘I am adamantly OPPOSED to this and it is a violation of state rights and I would have voted NO if I had known this was in there.’

This post appeared first on FOX NEWS

The State Department has joined the pope in lashing out at the latest massacre of Christians in Nigeria, reportedly by Islamist Fulani ‘terrorists.’

Pope Leo XIV declared during a recent address to thousands at the Vatican that ‘some 200 people were murdered, with extraordinary cruelty’ on June 13 in Yelewata, in Nigeria’s Benue State.

Late Monday, a State Department spokesperson told Fox News Digital, ‘We strongly condemn these increasing attacks, including recent massacres in Benue state which primarily targeted Christian farming villages.’

‘Shouting ‘Allahu Akbar’ (Arabic for ‘God is great’), they (the attackers) burnt the buildings and attacked people with guns and machetes,’ NGO Aid to the Church in Need wrote in a statement, adding that the militants ‘used fuel to set fire to the doors of the people’s accommodation before opening fire.’

The pope told the crowds in Rome that the majority of those ‘brutally killed’ in Yelewata had been sheltering in a Catholic sanctuary. ‘Most of the victims were internal refugees, who were hosted by a local Catholic mission,’ the pontiff stated. He added that he would pray for ‘security, peace and justice,’ particularly for ‘rural Christian communities of the Benue state who have been relentless victims of violence.’

Nigeria is one of the most dangerous places in the world to be a Christian, according to Open Doors International’s 2025 World Watch List (WWL). Of the 4,476 Christians killed worldwide in WWL’s latest reporting period, 3,100 of those who died – 69% – were in Nigeria. 

Talking to Fox News Digital, a State Department spokesperson reinforced reports that the attacks on Christians are being carried out by Islamic militant groups. ‘The United States remains deeply concerned about the levels of violence in Nigeria, including the threats posed by terrorist groups like Boko Haram and ISIS-West Africa in northern Nigeria, and the impact that violence has on all communities in Nigeria.’

This year, Islamist militants have often attacked areas of Nigeria where the people are predominantly Christian. Benue State, where the latest massacre took place, is said to be 93% Christian. 

One Nigerian church leader, who asked to remain anonymous for his safety, told Fox News Digital just last month that what the attackers ‘want is to be sure that Islam [takes] over every part of these places. … And so they’re doing everything to make sure that Christianity is brought down and Islam is [the] established No. 1. They want to make sure that Sharia law (strict Islamic law) has taken over Nigeria.’

The State Department spokesperson appeared to back up this viewpoint, saying, ‘violent extremist groups target a wide range of civilians and military targets as part of their broader campaign against a secular state. The increase in violent Islamic extremism and repeated attacks against vulnerable communities in Nigeria must be addressed more effectively.’

A Nigerian bishop told Fox News Digital in June that he had been threatened and his home village murderously attacked after he appealed to lawmakers at a March congressional hearing for the killing of Christians to stop.

Bishop Wilfred Anagbe said that after he went to Washington to testify, ‘terrorist Jihadists’ killed 20 parishioners in four attacks in 10 days in his diocese, the area he is responsible for.

Now, the bishop is in hiding after several foreign embassies in Nigeria’s capital Abuja warned him of credible high-level official threats that ‘something might happen to him.’

The State Department spokesperson added, ‘We regularly urge the Government of Nigeria to intensify their efforts to protect civilians, enforce rule of law, and hold perpetrators accountable. The United States partners with the Government of Nigeria to strengthen Nigeria’s counterterrorism capabilities, working together toward the elimination of terrorist organizations and their networks of support.’

The Nigerian government did not respond to a Fox News Digital request for comment. However, President Bola Tinubu visited Benue State this past week and told reporters, ‘Let’s fashion out a framework for lasting peace.’ 

The same day, in the same district, six more people were reported to have been killed.

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Senior Democratic Party officials vowed Monday to ‘fight tooth and nail’ to keep in place federal campaign spending limits up for Supreme Court review this fall — describing the GOP-led effort to repeal the limits as unprecedented and dangerous ahead of the 2026 midterm elections.

The Supreme Court on Monday agreed to review the case, National Republican Senatorial Committee v. Federal Election Commission, taking up a challenge filed by the National Republican Senatorial Committee, the National Republican Congressional Committee, and on behalf of two Senate Republican candidates, including now-Vice President JD Vance, following the 2022 elections.

In a statement Monday, the Democratic campaign groups vowed to fight back against what they characterized as the GOP’s attempt to ‘sow chaos and fundamentally upend our campaign finance system, which would return us to the pre-Watergate era of campaign finance.’

At issue are federal spending limits that restrict the amount of money political parties can spend on behalf of certain candidates — and which Republicans argue run afoul of free speech protections under the First Amendment of the Constitution.

A decision from the Supreme Court’s 6-3 conservative majority could have major implications on campaign spending in the U.S., further eroding the Federal Election Campaign Act of 1971, a law Congress passed more than 50 years ago with the aim of restricting the amount of money that can be spent on behalf of candidates.

That law, and subsequent amendments, restricts the amount of money that political parties can funnel into certain campaigns.

Senior Democratic Party officials described the GOP-led effort Monday as the latest effort by Republicans to claw back campaign spending limits and erode some 50 years of federal election law.

‘Republicans know their grassroots support is drying up across the country, and they want to drown out the will of the voters,’ DCCC chair Suzan DelBene, DSCC chair Kirsten Gillibrand, and DNC chair Ken Martin said in a joint statement Monday. 

The case is almost certain to be one of the most high-profile cases heard by the Supreme Court this fall.

Adding to the drama is the involvement of the Trump-led Justice Department, which said in May that it planned to side with the NRSC in the case — putting the Trump administration in the somewhat unusual position of arguing against a law passed by Congress.

Justice Department officials cited free speech protections as its basis for siding with the NRSC, which they said represents ‘the rare case that warrants an exception to that general approach’ of backing federal laws.’ 

Meanwhile, the Democratic groups sought to go on offense with their message, describing the GOP efforts as the latest iteration of a decades-long effort to ‘rewrite’ election laws in ways that benefit the party. They cited another Republican-led challenge to campaign spending limits brought more than 20 years ago, in Colorado Republican Federal Campaign Committee v. FEC. 

That challenge was ultimately rejected by the high court, DNC officials noted.

‘To date, those efforts have failed at every turn, ensuring a stable, predictable campaign finance structure for party committees and political candidates across the country,’ DNC officials said. 

Meanwhile, Republican officials praised the Supreme Court’s decision to take up the case, which they described as helping the GOP ensure they are in ‘the strongest possible position’ ahead of the 2026 midterms and beyond.’

‘The government should not restrict a party committee’s support for its own candidates,’ Sen. Tim Scott, R-S.C., and Rep. Richard Hudson, R-N.C. who chair the NRSC and NRCC, respectively, said Monday.

‘These coordinated expenditure limits violate the First Amendment, and we appreciate the court’s decision to hear our case,’ they added.

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Many senators failed to get their amendments across the finish line during the chamber’s vote-a-rama on Monday, leaving the future of President Donald Trump’s ‘big, beautiful bill’ uncertain.

Two key failures came from Sen. Susan Collins, R-Maine, and Sen. John Cornyn, R-Texas, with the former proposing a plan that would have boosted funding for rural hospitals and the latter calling for further cuts to Medicaid. 

Collins and Cornyn were far from the only lawmakers who had amendments fail, however. Here are some details on some of the unsuccessful efforts, plus one that succeeded with nearly unanimous support.

Rural hospital funding

Collins’ amendment would have doubled funding for rural hospitals from $25 billion to $50 billion over the next 10 years, and it would have allowed a larger number of medical providers to access the funds.

‘Rural providers, especially our rural hospitals and nursing homes, are under great financial strain right now, with many having recently closed and others being at risk of closing,’ Collins said prior to the vote. ‘This amendment would help keep them open and caring for those who live in rural communities.’

Collins said the bill was something of an olive branch to Democrats, who had criticized the cuts to Medicaid involved in the megabill. Her amendment would also have raised tax rates for individuals who make more than $25 million per year and couples who make more than $50 million.

‘They’ve complained repeatedly about the distribution in this bill, of Medicaid cuts hurting individuals, rural hospitals, and tax cuts being extended for people who are wealthy, and yet when I tried to fix both those problems, they took a very hypocritical approach,’ Collins said.

Sen. Ron Wyden, D-Ore., argued Collins’ amendment was merely putting a ‘Band-Aid on an amputation.’

Expanded Medicaid cuts

Cornyn was joined by Sens. Rick Scott, R-Fla., and John Barrasso, R-Wyo., in pushing an amendment cutting an additional $313 billion in Medicaid funding on Monday.

The trio said they were pushing to limit the growth of Medicaid, and they had been confident the adjustment would pass. All three were seen entering Senate Majority Leader John Thune’s office on Monday as it became clear the amendment lacked support.

The base bill already cuts some $930 billion in funding for Medicaid, leading many of the trio’s colleagues to balk at further cuts.

‘It just seems like we’ve taken it as far as I’m comfortable taking it,’ said Sen. Jim Justice, R-W.V., regarding trims to Medicaid.

Boosting deductibles for teachers

Kennedy had proposed an amendment that would have allowed teachers to deduct $600 in school supplies that they pay for out of pocket each year.

The proposal ultimately failed in a 46-54 vote.

Child tax credit enhancement

Bennet proposed an amendment that would have increased both the amount and availability of the child tax credit included in the megabill, but it failed to garner enough support.

The Senate rejected Bennet’s proposal in a 22-78 vote.

Clearing the way for state AI laws

One amendment that did succeed was a measure that killed a provision in the bill that would have placed a 10-year moratorium on state AI regulations.

The original version of the bill would have forced states to choose between enforcing AI regulations or accepting federal funding to expand broadband internet access. Sens. Edward Markey, D-Ma., and Marsha Blackburn, R-Tenn., joined Sen. Maria Cantwell in sponsoring the amendment.

‘The Senate came together tonight to say that we can’t just run over good state consumer protection laws,’ Cantwell said Monday. ‘States can fight robocalls, deepfakes and provide safe autonomous vehicle laws. This also allows us to work together nationally to provide a new federal framework on Artificial Intelligence that accelerates U.S. leadership in AI while still protecting consumers.’

The Senate passed the amendment in an overwhelming 99-1 vote.

Sen. Thom Tillis, R-N.C., was the sole vote opposing the measure.

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Israel’s Coordinator for Government Activities in the Territories (COGAT), which oversees humanitarian and civil efforts in Gaza, released two revealing conversations between Gaza residents and officers from the Coordination and Liaison Administration (CLA) for Gaza.

The Gaza residents, who COGAT — an Israeli  says were at humanitarian aid distribution sites, told a CLA officer about how Hamas tries to disrupt the aid system through violence and manipulation. The testimonies reveal that ‘Hamas fires at Gaza residents near the aid distribution sites, spreads false claims about IDF fire, publishes fabricated data about large numbers of casualties, and circulates fake footage,’ according to COGAT.

State Department Spokesperson Tammy Bruce acknowledged Hamas’ use of violence to ‘interfere with aid deliveries to the people of Gaza.’

‘This is how Hamas operates — they deliberately fire at people and want it to appear as though the army is the one shooting, so that no one will approach the aid distribution areas,’ one Gaza resident told a CLA officer, according to COGAT’s translation.

Another Gaza resident told a CLA officer that Palestinians trying to get aid ‘encounter thugs on the way’ and that ‘those thugs definitely kill 2, 3, 5 people.’

Fox News Digital was unable to independently verify the identities of the residents.

The Gaza Humanitarian Foundation (GHF), a U.S.- and Israel-backed group,  has faced backlash over reports of violent and even deadly incidents around its secure sites. In response to the videos released by COGAT, a GHF spokesperson said that ‘Hamas is working to destroy the Gaza Humanitarian Foundation because our model is working.’

GHF has pushed back on claims that Palestinians are being killed at its sites. However, it does say that Hamas has killed some of its staff members, ‘put bounties on our American workers and threatened civilians for accepting aid.’

‘To date, there has not been a single casualty at or in the surrounding vicinity of any of our sites. Many of the alleged incidents had no correlation to our sites but deliberate misinformation orchestrated by Hamas-controlled [Gaza] Health Ministry,’ a GHF spokesperson told Fox News Digital. 

Despite the backlash, the GHF is encouraging other organizations — including its critics — to join its mission to bring aid to the people of Gaza while ensuring Hamas does not get its hands on it.

‘Ultimately, the solution is more aid. If other groups would join us, we could scale up… We could also collaborate with the U.N. and other groups on other means while ensuring their aid reaches the right people,’ the GHF spokesperson said.

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Iran’s foreign minister is vowing that ‘the doors of diplomacy will never slam shut’ following the Trump administration’s airstrikes — a statement an Iran expert says shows that Tehran is trying to buy time. 

Abbas Araghchi was quoted as making the remark to CBS News after President Donald Trump told reporters last Wednesday that the U.S. would meet with Iranian officials this week. 

‘I don’t think negotiations will restart as quickly as that,’ Araghchi added. ‘In order for us to decide to reengage, we will have to first ensure that America will not revert back to targeting us in a military attack during the negotiations. And I think with all these considerations, we still need more time.’  

Behnam Ben Taleblu, the senior director of the Foundation for Defense of Democracies Iran Program, told Fox News Digital on Tuesday that ‘Tehran’s strongest weapon when it is weak is actually diplomacy. 

‘Negotiating to buy time and bail out the regime is an art form for Iranian political elites. Even when done from a position of weakness, one reason Tehran will not shut the door on talks is because it seeks to prevent widening military action from stiffening the spine of domestic dissidents at home. 

‘No doubt, the Islamic Republic will cause a ruckus about engaging in negotiations post-strike, but ultimately agreeing to talk when it has been conventionally bested on the battlefield does mean its mission accomplished,’ Taleblu added. 

Trump said following the conclusion of a NATO summit in the Netherlands last week that ‘I could get a statement’ that Iran is ‘not going to go nuclear.’ 

‘We’re probably going to ask for that… but they’re not going to be doing it anyway. They’ve had it,’ Trump added.  

‘We’re going to talk to them next week, with Iran. We may sign an agreement, I don’t know. To me, I don’t think it’s that necessary. I mean, they had a war. They fought. Now they’re going back to their world. I don’t care if I have an agreement or not. The only thing we would be asking for is what we’re asking for before about, we want no nuclear [program]. But we destroyed the nuclear,’ Trump also said.  

‘If we got a document, it wouldn’t be bad. We’re going to meet with them. Actually, we’re going to meet with them,’ the president continued. 

However, Trump then wrote on Truth Social Monday that he is not talking to Iran. 

‘The administration and namely our special envoy, Steve Witkoff, has been in communication both directly and indirectly with the Iranians. That communication continues. The president himself has not talked to Iran, which he pointed out in his Truth statement,’ White House Press Secretary Karoline Leavitt added later Monday. 

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