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Alphabet reported second-quarter results on Wednesday that beat on revenue and earnings, but the company said it would raise its capital investments by $10 billion in 2025.

Here’s how the company did, compared with estimates from analysts polled by LSEG:

Wall Street is also watching several other numbers in the report:

The company’s overall revenue grew 14% year over year, higher than the 10.9% Wall Street expected, but Alphabet is going to spend more on artificial intelligence in 2025 than it anticipated.

In February, the company said it expected to invest $75 billion in capital expenditures in 2025 as it continues to expand on its AI strategy. That was already above the $58.84 billion Wall Street expected at the time.

The company increased that figure on Wednesday to $85 billion, saying it was raising it due to “strong and growing demand for our Cloud products and services.” The company expects to further increase capital expenditures in 2026, Alphabet finance chief Anat Ashkenazi said on an earnings call.

The company reported revenue of $13.62 billion for its cloud computing business, which is a 32% increase from a year ago. Last week, OpenAI announced that it expected to use Google’s cloud infrastructure for its popular ChatGPT service. Alphabet CEO Sundar Pichai said “we are very excited to be partnering with them.”

Alphabet’s net income increased to $28.20 billion, up nearly 20% from the previous year.

The company’s search and advertising units still showed growth in the second quarter despite AI competition heating up. The company’s search unit brought in $54.19 billion during the quarter, and its advertising revenue grew to $71.34 billion — up about 10.4% from $64.61 billion the year prior.

YouTube advertising revenue came in at $9.8 billion, higher than Wall Street expected.

The company said its “Other Bets” segment, which includes its self-driving car unit Waymo and life sciences unit Verily, brought in $373 million — up from $365 million a year ago. Other Bets reported a loss of $1.25 billion, up from the $1.13 billion a year ago.

AI Overviews, Google’s AI search product that summarizes search results, now has upward of two billion monthly users across more than 200 countries and territories, Pichai said during Wednesday’s earnings call. That’s up from 1.5 billion monthly users last quarter.

The Gemini app, which has the company’s AI chatbot, now has more than 450 million monthly active users, Pichai said.

When asked about large spending on AI talent, Ashkenazi said Alphabet makes “sure that we invest appropriately to have the best and brightest minds in the industry.”

Google made a splash in the AI talent wars, announcing earlier in July that it would bring in Windsurf CEO Varun Mohan and other top researchers at the AI coding startup as part of a $2.4 billion deal that also includes licensing the company’s technology.

Total operating expenses increased 20% to $26.1 billion, Ashkenazi said on Wednesday. The biggest driver of growth was expenses for legal and other matters due in part to a $1.4 billion charge related to a settlement, she said on Wednesday’s earnings call. Texas Attorney General Ken Paxton in May announced a $1.37 billion settlement with Google related to a data privacy rights lawsuit it made against the company in 2022.

Ashkenazi said Alphabet’s third-quarter revenue “could see a tailwind” due to several reasons. That includes a negative impact for advertising, which benefited from “strong spend on U.S. elections” in late 2024, particularly on YouTube, she said.

This post appeared first on NBC NEWS

Uber announced a new feature Wednesday that pairs women drivers and riders, in its latest move to address safety on the ride-hailing platform.

The new tool, which the platform will begin piloting next month in the U.S., allows women passengers to match with women drivers when booking or pre-booking rides, and create a preference in their app settings. Women drivers can also choose to drive women.

“It’s about giving women more choice, more control, and more comfort when they ride and drive,” Camiel Irving, Uber’s vice president of U.S. and Canada operations, said in a release.

The company said the rider’s preference isn’t guaranteed but the feature increases the chances women will be paired in the app.

Uber will pilot the program in Los Angeles, San Francisco and Detroit. The company also said it tested the feature in countries such as France, Germany and Argentina.

This isn’t Uber’s first foray into gender preferences on its platform.

In 2019, Uber rolled out a women rider preference feature for female drivers in Saudi Arabia after women won the right to drive in 2018. That offering later expanded to about 40 countries. A survey from the company in 2015 found that about a fifth of its U.S. drivers were women.

Over the years, ride-hailing companies such as Uber and Lyft have faced safety concerns and questions over the roles these platforms have played in various sexual assault and harassment incidents.

Uber has rolled out several features in recent years to improve safety on the platform, including teen accounts and rider and pin verification.

Competitor Lyft launched an option in late 2023 that pairs women and nonbinary drivers and riders.

This post appeared first on NBC NEWS

UnitedHealth Group revealed Thursday it is facing a Justice Department investigation over its Medicare billing practices.

It comes after the Wall Street Journal reported in May that the Department of Justice is conducting a criminal investigation into the health-care giant over possible Medicare fraud. In response at the time, the company said it stands “by the integrity of our Medicare Advantage program.”

In July, the Journal also reported that the DOJ interviewed several doctors about UnitedHealth’s practices and whether they felt pressured to submit claims for certain conditions that bolstered payments from the Medicare Advantage program to the company.

That marked the second time this year that the insurer’s Medicare Advantage business has come under federal scrutiny. The Journal also reported in February that the DOJ is conducting a civil investigation into whether the company inflated diagnoses to trigger extra payments to its Medicare Advantage plans.

But in March, UnitedHealth moved a step closer to ending a yearslong legal battle with the DOJ that began with a whistleblower who alleged the company illegally withheld at least $2 billion through the Medicare Advantage program. A special master assigned to the case by the judge issued a recommendation in favor of UnitedHealth, saying the DOJ lacked evidence.

UnitedHealthcare’s Medicare and retirement segment, which includes the Medicare Advantage business, is UnitedHealth Group’s largest revenue driver, raking in $139 billion in sales last year.

The update in the probe comes after a tumultuous last year for UnitedHealthcare, the nation’s largest and most powerful private health insurer. Shares of UnitedHealthcare’s parent company, UnitedHealth Group, are down more than 42% for the year after it suspended its 2025 forecast amid skyrocketing medical costs, announced the surprise exit of former CEO Andrew Witty and grappled with the reported probe into its Medicare Advantage business.

The company’s 2024 wasn’t any easier, marked by a historic cyberattack and the torrent of public blowback after the murder of UnitedHealthcare’s CEO, Brian Thompson.

This post appeared first on NBC NEWS

Markets don’t usually hit record highs, risk falling into bearish territory, and spring back to new highs within six months. But that’s what happened in 2025.

In this special mid-year recap, Grayson Roze sits down with David Keller, CMT, to show how disciplined routines, price-based signals, and a calm process helped them ride the whipsaw instead of getting tossed by it. You’ll see what really happened under the surface, how investor psychology drove the swings, and the exact StockCharts tools they leaned on to stay objective. 

If you’re focused on protecting capital, generating income, and sleeping well at night while still capturing the upside, this is a must-watch. Discover which charts deserve your attention now, what to ignore, and how to prep for the back half of 2025. 

This video premiered on July 23, 2025. Click on the above image to watch on our dedicated Grayson Roze page on StockCharts TV.

You can view previously recorded videos from Grayson at this link.

The chart of Meta Platforms, Inc. (META) has completed a roundtrip from the February high around $740 to the April low at $480 and all the way back again.  Over the last couple weeks, META has now pulled back from its retest of all-time highs, leaving investors to wonder what may come next.

Is this the beginning of a new downtrend phase for META?  Or just a brief pullback before a new uptrend phase propels META to new all-time highs?

Today we’ll look at two potential scenarios, including the double top pattern and the cup and handle pattern, and share which technical indicators and approaches could help us determine which path plays out into August.

The double top scenario basically means that the late July retest of the previous all-time high was the end of the recent uptrend phase.  The double top pattern is literally when a major resistance level is set and then retested.  The implication is that a lack of willing buyers means the uptrend is exhausted, and there is nowhere to go but down.

While the 21-day exponential moving average is currently in play for META, I would say that a break below the 50-day moving average could confirm this as the correct scenario.  If that smoothing mechanism does not hold, then the price action would imply less of a pullback and more like the beginning of a real distribution phase.

What is META pulls back but then resumes an uptrend phase, leading META to another new all-time high?  That would result in a confirmed cup and handle pattern, created by a large rounded bottoming pattern followed by a brief pullback.  The key to this pattern is the “rim” of the cup, which sits right at $740 for META.

Given the pullback META has demonstrated so far in July, I would say that a break above the $740 level would basically confirm a bullish cup and handle pattern.  That would suggest much more upside potential for META, as the stock would literally go into previously uncharted territory.

So how can we determine which scenario is more likely to play out?  This is where we need to incorporate more technical indicators into the discussion, as a way to further validate and confirm our investment thesis.

Just to review, I think a break above $740 would confirm a bullish cup and handle pattern.  I would also say that a break below the $680 level, which would represent a move below the 50-day moving average as well as the June swing lows, would basically confirm a bearish double top pattern.

We can also use the Relative Strength Index (RSI) to help determine whether META remains in a bullish trend phase.  During bull phases, the RSI rarely gets below 40, because buyers usually step in to “buy the dips” and keep the momentum fairly constructive.  So if the price would break down, and the RSI would not hold that crucial 40 level, that could mean a bearish outlook is warranted.

Finally, we can use volume-based indicators to assess whether moves in the price are supported by stronger volume readings.  Here I’ve included the Accumulation/Distribution Line, which tracks the trend in daily volume readings over time.  We can see that the high in July resulted in a divergence, as the A/D line was trending lower.  If the A/D line would break below its June and July lows, marked by a dashed red line, that would represent a bearish volume reading for META.

Technical analysis is less about predicting the future, and more about determining the most probable scenarios based on our analysis of trend, momentum, and volume.  I hope this discussion shows how the outlook for META can be easily determined and tracked using the best practices of technical analysis!

RR#6,

Dave

PS- Ready to upgrade your investment process?  Check out my free behavioral investing course!

David Keller, CMT

President and Chief Strategist

Sierra Alpha Research LLC

marketmisbehavior.com

https://www.youtube.com/c/MarketMisbehavior

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.  

The author does not have a position in mentioned securities at the time of publication.    Any opinions expressed herein are solely those of the author and do not in any way represent the views or opinions of any other person or entity.

Speaker Mike Johnson, R-La., accused Democrats of orchestrating a ‘cover-up’ of President Joe Biden’s signs of mental decline in a set of remarks to reporters on Wednesday.

The leader of the House of Representatives criticized left-wing lawmakers for their public pressure campaign regarding Jeffrey Epstein’s case, dismissing their calls for transparency as a hypocritical political ploy.

‘We will not be lectured on transparency by the same party that orchestrated one of the most shameless, dangerous political cover-ups in the history of the United States – and that was President Biden’s obvious mental decline,’ Johnson told reporters.

‘House Republicans stand for maximum transparency and truth. We always have, and we always will.’

It comes as the House Oversight Committee continues to investigate allegations that the former president’s top White House aides obscured signs of mental and physical decline in the octogenarian leader from the public and others in the administration.

Biden told The New York Times earlier this month that he was fully aware of every decision he made in a story regarding his use of autopen for clemency orders.

Johnson and other Republican lawmakers have dealt with a barrage of media scrutiny on Epstein’s case over the last two weeks. It’s a side effect of the fallout over a recent Department of Justice (DOJ) memo effectively declaring the matter closed.

Figures on the far-right have hammered Trump officials like Attorney General Pam Bondi, accusing them of going back on earlier vows of transparency.

At Trump’s direction, the DOJ is moving to have grand jury files related to Epstein’s case unsealed. Bondi is looking into whether imprisoned former Epstein associate Ghislaine Maxwell will speak with federal authorities as well.

Democrats seized on the discord by forcing Republicans on a key panel – the House Rules Committee – to take multiple votes on whether to make files related to Epstein’s case public.

GOP lawmakers’ frustration at being put into a tough political situation forced House Republicans’ agenda to partially grind to a halt this week, forcing leaders to send the House into August recess a day earlier than initially planned.

Some Republicans are frustrated with the Trump administration’s handling of the issue, while others are angry at fellow GOP lawmakers joining Democrats in public calls for transparency.

Many, like Johnson, have accused Democrats of operating on a double-standard. 

‘The way Democrats have tried to weaponize this issue is absolutely shameless. And I just want to say this – Democrats said nothing and did nothing, absolutely nothing, about bringing transparency for the entire four years of the Biden presidency,’ the speaker said. But now, all of a sudden, they want the American people to believe that they actually care.’

When reached for comment, a spokesperson for House Minority Leader Hakeem Jeffries, D-N.Y., pointed Fox News Digital to his remarks on Epstein earlier this week, questioning what Republicans were ‘hiding.’

‘Jeffrey Epstein committed suicide during the Trump administration. Trump administration officials have said, prior to arriving in Washington in positions of prominence, including at the FBI and the Department of Justice, that they were going to release the Epstein files. Trump administration officials are now in a position to release the Epstein files,’ Jeffries said. 

‘Does any of that, in your view, have anything to do with President Joe Biden? Why do we think President Joe Biden or President Barack Obama’s names are being invoked?’

Fox News Digital also reached out to the office of former President Joe Biden for comment but did not immediately hear back.

This post appeared first on FOX NEWS

A House panel Wednesday voted in favor of subpoenaing former President Bill Clinton and former Secretary of State Hillary Clinton.

Rep. Scott Perry, R-Pa., offered a motion during a House Oversight Committee subcommittee hearing to call on Committee Chairman James Comer, R-Ky., to subpoena people with possible links to Ghislaine Maxwell, the imprisoned former associate of late pedophile Jeffrey Epstein.

‘I have a motion to subpoena the following individuals to expand the full committees investigation into Miss Maxwell – and the list reads as follows: William Jefferson Clinton, Hillary Diane Rodham Clinton, James Brian Comey, Loretta Elizabeth Lynch, Eric Hampton Holder, Jr., Merrick Brian Garland, Robert Swan Mueller III, William Pelham Barr, Jefferson Beauregard Sessions the third, and Alberto Gonzales. That’s the full list, Mr. Chairman. And that’s the motion,’ Perry said.

The motion passed by voice vote, meaning there was not an individual roll call.

The subpoenas would actually need to be issued by Comer to be active.

A House Oversight Committee aide told Fox News Digital, ‘The subpoenas will be issued in the near future.’

It comes after Rep. Summer Lee, D-Pa., a member of the progressive ‘Squad,’ pushed for a vote on her own motion to subpoena any files related to Epstein.

That motion passed in an 8-to-2 vote, also directing Comer to issue that subpoena.

Republican lawmakers have dealt with a barrage of media scrutiny on Epstein’s case over the last two weeks. It’s a side effect of the fallout over a recent Department of Justice (DOJ) memo effectively declaring the matter closed.

Figures on the far-right have hammered Trump officials like Attorney General Pam Bondi, accusing them of going back on earlier vows of transparency.

At Trump’s direction, the DOJ is moving to have grand jury files related to Epstein’s case unsealed. Bondi is looking into whether imprisoned former Epstein associate Ghislaine Maxwell will speak with federal authorities as well.

A House GOP-led motion directing Comer to subpoena Maxwell passed the House Oversight Committee unanimously on Tuesday, and Comer issued the subpoena the following day.

But Democrats have nonetheless seized on the Republican discord with newfound calls of their own for transparency in Epstein’s case. 

Wednesday’s hearing by the Oversight Committee’s subcommittee on federal law enforcement was unrelated to Epstein — but it’s part of a pattern of Democratic lawmakers in the House using any opportunity to force Republicans into an uncomfortable political position on the issue.

Rep. Andy Biggs, R-Ariz., another member of the subcommittee, successfully got Lee’s amendment altered to also call for the release of Biden administration communications related to Epstein.

Fox News Digital reached out to the Clinton Foundation for comment but did not immediately hear back.

This post appeared first on FOX NEWS

President Donald Trump declared that the United States will do ‘whatever it takes’ to win the global race to artificial intelligence dominance, during an address at a summit held in the nation’s capital Wednesday.

‘From this day forward, it’ll be a policy of the United States to do whatever it takes to lead the world in artificial intelligence,’ Trump said during his address shortly ahead of signing three new executive orders that are aimed at boosting the country’s artificial intelligence capabilities. 

Meanwhile, Trump also slammed the former Biden administration for ‘weaponizing’ and restricting AI innovation and advancements.

‘If you regulate [AI] too much, you kill the source of American genius and technological power,’ Trump said. ‘I believe that Joe Biden had a plan to lose the AI race. I think he wanted to lose it.’

Administration leaders, including White House Office of Science and Technology policy director Michael Kratsios and AI and crypto czar David Sacks, held a background call with the media Wednesday morning and outlined a three-pillar plan of action for artificial intelligence focused on American workers, free speech and protecting U.S.-built technologies. 

‘We want to center America’s workers, and make sure they benefit from AI,’ Sacks said on the call while describing the three pillars. 

‘The second is that we believe that AI systems should be free of ideological bias and not be designed to pursue socially engineered agendas,’ Sacks said. ‘And so we have a number of proposals there on how to make sure that AI remains truth-seeking and trustworthy. And then the third principle that cuts across the pillars is that we believe we have to prevent our advanced technologies from being misused or stolen by malicious actors. And we also have to monitor for emerging and unforeseen risks from AI.’

Ending red tape and restrictions on the technology is also a key component of the new AI initiative, administration officials said, noting it will usher in the next ‘industrial revolution.’

Trump ordered his administration in January to develop a plan of action for artificial intelligence in order to ‘solidify our position as the global leader in AI and secure a brighter future for all Americans.’ 

The presidential action ordered administration leaders to craft a plan ‘to sustain and enhance America’s global AI dominance in order to promote human flourishing, economic competitiveness, and national security’ within 180 days, which was Tuesday. 

Kratsios stressed on the Wednesday press call that by cutting federal red tape surrounding AI, American workers will benefit while the U.S. will avoid going down the same AI path as Europe, which is mired in tech regulations, Kratsios said on the call. ‘The action plan calls for freeing American AI innovation from unnecessary bureaucratic red tape, ensuring all Americans reap the benefits of AI technologies and leveraging AI to drive new scientific breakthroughs.’

‘On deregulation, we cannot afford to go down Europe’s innovation-killing regulatory path. Federal agencies will now review their rules on the books and repeal those that hinder AI development and deployment across industries, from financial services and agriculture to health and transportation.’ 

‘At the same time, we’re asking the private sector to recommend regulatory barriers that they face for the administration to consider removing,’ he added. ‘Instead of cultivating skepticism, our policy is to encourage and enable AI adoption across government and the private sector through regulatory sandboxes and sector-specific partnerships.’ 

Trump rescinded a Biden-era executive order hours after taking office in January that put restrictions on artificial intelligence technologies, including requiring tech companies to keep the federal government appraised of the most powerful technology they were building before the programs are made available to the public. 

Trump’s signature rescinded the Biden order, with a White House fact sheet at the time arguing the Biden executive order ‘hinders AI innovation and imposes onerous and unnecessary government control over the development of AI.’

‘American development of AI systems must be free from ideological bias or engineered social agendas,’ the White House said. ‘With the right government policies, the United States can solidify its position as the leader in AI and secure a brighter future for all Americans.’ 

‘The order directs the development of an AI Action Plan to sustain and enhance America’s AI dominance, led by the Assistant to the President for Science & Technology, the White House AI & Crypto Czar, and the National Security Advisor,’ the White House said. 

The Trump administration has notched massive wins in the artificial intelligence race, which has pitted the U.S. against China to develop the most high-tech artificial intelligence systems, including Oracle and OpenAI announcing Tuesday the companies will further develop the Stargate project, which is an effort to launch large data centers in the U.S. The two companies’ most recent announcement promises an additional 4.5 gigawatts of Stargate data center capacity, a move expected to create more than 100,000 jobs across operations, construction, and indirect roles such as manufacturing and local services.

The Stargate project includes a commitment from OpenAI, Oracle, SoftBank and MGX to invest $500 billion in U.S.-based artificial intelligence infrastructure throughout the next four years.

Creating the data centers is key to the U.S. artificial intelligence race, according to admin officials who spoke on the background call Wednesday. Sacks explained that the administration wants to see U.S. artificial intelligence infrastructure grow by leaps and bounds in order for the country to ‘lead in data centers and in the energy that powers those data centers.’ 

Earlier in July, Trump traveled to Pittsburgh for an artificial intelligence summit at Carnegie Mellon University while touting the $90 billion in private-sector investments intended to create the Keystone State into an energy and artificial intelligence hub for the country 

Trump also has signed other executive orders focused on artificial intelligence as it relates to increasing America’s energy grid capacity, and an April executive order aimed at preparing America’s next generation to employ artificial intelligence through educational programs. 

Kratsios said during the call Wednesday that the U.S. winning the artificial intelligence race is ‘non-negotiable,’ citing not only economic and geopolitical considerations. 

‘We’re not alone in recognizing the economic, geopolitical, and national security importance of AI, which is why winning the AI race is non-negotiable,’ he said. ‘The plan presents over 90 federal policy actions across three pillars. As David (Sacks) discussed, those are accelerating innovation, building American AI infrastructure, and leading international AI diplomacy and security. The action plan was crafted with overwhelming input from industry, academia and civil society, informed by over 10,000 responses to the White Houses request for information.’ 

The plan delivered to Trump could be executed in the next six months to a year, according to the background call.

The Trump administration has repeatedly rallied around how artificial intelligence will be crucial at catapulting America into the next ‘industrial revolution,’ which administration officials say will lead to job creation and a strong tech industry that can trounce other nations in the race. 

Vice President JD Vance has been one of the most vocal admin leaders touting the U.S. strength on artificial intelligence as it cut red tape surrounding the industry.

‘The Trump administration is troubled by reports that some foreign governments are considering tightening screws on U.S. tech companies with international footprints,’ Vance said in a fiery February speech from Paris. ‘America cannot and will not accept that, and we think it’s a terrible mistake.’

‘At this moment, we face the extraordinary prospect of a new industrial revolution… But it will never come to pass if over-regulation deters innovators from taking the risks necessary to advance the ball,’ he said. ‘Nor will it occur if we allow AI to become dominated by massive players looking to use the tech to censor or control users’ thoughts.’

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Rep. Ritchie Torres, D-N.Y., an outspoken opponent of antisemitism, said Wednesday that those who refuse to speak out against the heinous acts Hamas perpetrated in Israel on Oct. 7, 2023 ‘have no business’ claiming to be humanitarians.

‘If you refuse to condemn Hamas for the murder, maiming, mutilation, rape, torture, and abduction of thousands of Jews and Israelis on October 7, then you have no business calling yourself a humanitarian,’ Torres wrote on X. 

‘A humanitarianism that devalues Jewish life is no humanitarianism at all, for it has been hollowed out by antisemitism,’ he added.

The congressman has been a strong voice of support for Israel.

‘The singular stumbling block to ending the war is the terrorist organization that barbarically began it: Hamas. Scapegoating Israel is so second nature to the international community that Hamas’ role in precipitating and perpetuating the war has been all but forgotten,’ Torres wrote on X earlier this month.

In another post on X this month he opined that ‘Antisemitism is the deadliest disease ever to afflict the human heart.’

In a post last month, he asserted, ‘If Israel is the sole country in the Middle East—indeed the world—for which you reserve the label ‘apartheid’—then your use of the term is probably propagandistic rather than principled and your purpose is not constructive criticism but the destructive delegitimation of Israel as a Jewish State.’

Torres has served in the U.S. House of Representatives since early 2021.

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Sens. Lindsey Graham, R-S.C., and John Cornyn, R-Texas, are asking Attorney General Pam Bondi to appoint a special counsel to investigate newly declassified information about the Obama administration’s intelligence assessments about Russian interference in the 2016 election.

Graham and Cornyn’s call for a special counsel, which Fox News Digital learned they are announcing Thursday morning, comes the day after the Department of Justice (DOJ) created a ‘strike force’ to investigate the evidence, which was declassified by Director of National Intelligence Tulsi Gabbard this month.

Graham and Cornyn, both senior members of the Senate Judiciary Committee, did not address the strike force but indicated in a statement that special counsels, who are outside officials brought in to oversee politically sensitive cases, operate independently of the attorney general.

Fox News reached out to the DOJ for comment on the special counsel request.

‘As we have supported in the past, appointing an independent special counsel would do the country a tremendous service in this case,’ Graham and Cornyn said.

Gabbard’s declassified intelligence shed new light on the Obama administration’s determination that Russia sought to help President Donald Trump in the 2016 election. Gabbard alleged Wednesday during a press briefing that Obama and his intelligence officials promoted a ‘contrived narrative that Russia interfered in the 2016 election to help President Trump win, selling it to the American people as though it were true. It wasn’t.’

Graham, who previously served as chairman of the Senate Judiciary Committee, led the Senate’s inquiry into the FBI’s investigation into alleged Trump-Russia collusion and released a tranche of documents in 2020 suggesting the bureau had a flimsy basis for opening its investigation into Trump.

‘With every piece of information that gets released, it becomes more evident that the entire Russia collusion hoax was created by the Obama administration to subvert the will of the American people,’ Graham and Cornyn said.

Their remarks follow Trump accusing former President Barack Obama of ‘treason’ this week and after the DOJ opened criminal investigations into former CIA Director John Brennan and former FBI Director James Comey. 

Critics say Gabbard’s claims have been contradicted by past congressional reviews, some of which were led by Republicans. Obama, meanwhile, issued a statement in response to the wave of headlines suggesting he attempted to hurt Trump’s election chances.

‘Out of respect for the office of the presidency, our office does not normally dignify the constant nonsense and misinformation flowing out of this White House with a response,’ Obama spokesperson Patrick Rodenbush said. ‘But these claims are outrageous enough to merit one. These bizarre allegations are ridiculous and a weak attempt at distraction.’

This is a developing story. Check back for updates.

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