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This opinion piece was submitted to the Investing News Network (INN) by Darren Brady Nelson, who is an external contributor. INN believes it may be of interest to readers and has copy edited the material to ensure adherence to the company’s style guide; however, INN does not guarantee the accuracy or thoroughness of the information reported by external contributors. The opinions expressed by external contributors do not reflect the opinions of INN and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

By Darren Brady Nelson

As an economist, I, perhaps somewhat sadly, have many economist friends. One of them recently alerted me to a post on X that was even a shock to me in the toxic 2020s. That being: “Almost all political donations by Fed employees go to one party. The Fed is already politicized.”

The post had a link to the data supporting this assertion, which was published at OpenSecrets. They are a “501(c)3” devoted to: “tracking money in US politics and its effect on elections and public policy.” Their theme is appropriately “Follow the Money,” as it is for this story.

Political money contributions, since 2016, from those at the Fed, range between 92 to 93 percent for Democrats and 8 to 9 percent for Republicans. As Public Choice economics teaches, it is crucial to “Follow the Money” in politics. Austrian and Chicago schools of economics teach the same for gold.

Gold pricing 101

Gold pricing is often characterized as being driven by “fear and uncertainty,” at least in the short run, including geopolitical fears like war and economic uncertainties such as recession. It is also typically recognized to be an “inflation hedge,” in the long run anyway.

Gold is an asset with a price determined in a 24/7/365 global auction, most often quoted per troy ounce, in the world’s reserve currency of US dollars. New supply plays an unusually small role compared to almost all other commodities, goods or services. Thus, highest bid wins.

Perhaps none of these things about gold, and its price, are new nor surprising. But what might be, despite the end of the gold standard in 1971 and legalization of gold investment in 1974, is that gold is still a shadow currency to fiat ones, especially US dollar, in the ‘always run.’

The annual gold price from 1960 to 2024 is displayed below, as sourced from the World Bank. Rises include: late 1970s; late 2000s; and mid 2020s. Slides include: early 1980s; late 1990s; and early 2010s. Overall growth was: Sum 555 percent; Ave 8.7 percent; Max 98 percent; Min 24 percent; and CAGR 6.8 percent.

Gold yearly growth ($).

Source: World Bank.

Money supply 101

Gold is the inflation hedge, precisely because it is shadow currency. Money supply is the inflation source, precisely because it is fiat currency. As Chicago economist Milton Friedman wrote in Money Mischief (1994): “In the modern world, inflation is a printing-press phenomenon.”

There are multiple money supply measures, such as M0, M1, M2 and M3. M1 includes paper and coin currency held by the general public as well as liquid bank deposits (e.g. checking accounts). M3 includes M1, plus less liquid bank deposits (e.g. savings accounts) as well as “repos.”

Austrian economist Robert Murphy details in Understanding Money Mechanics (2021) just how the Fed’s printing, Treasury bonds and bank loans create US money supply, through open market operations. Since 2008 and 2020, the Fed has expanded to buying and selling just about anything.

Speaking on behalf of the Fed, and all major central banks, the Bank of England wrote in Money Creation in the Modern Economy (2014): “(B)ank lending creates deposits. At that moment, new money is created. (This is) ‘fountain pen money,’ created at the stroke of bankers’ pens(.)”

Annual M1 and M3 money supply from 1960 to 2024 are displayed below, as sourced from the OECD. M3 starts to take off from the mid 1990s. Both blast off in the early 2020s, M1 in part due to redefinition. Combined growth was: Sum 533 percent; Ave 8.3 percent; Max 126 percent; Min 6.4 percent; and CAGR 7.4 percent.

Money yearly growth ($).

Source: OECD.

Gold inflation 101

Christian economist Gary North points out in Honest Money (2011) that businesses have three choices in the face of money inflation: A) profit deflation; B) price inflation; C) quality shrinkflation. Investors have a fourth: D) gold inflation. A, B, and C are all bad options. D is good.

The chart below shows cumulative annual growth of gold versus M1 and M3. Gold performs and protects against both M1 and M3 from 1974 to 2019, even in 2001, but not against M1 from 2020 to 2024. In 2019, gold had a 150 percent lead on M1 and 92 percent on M3. By 2022, it shrunk to 110 percent and 80 percent.

Cumulative yearly growth (percent).

Sources: OECD and World Bank.

A 2020 regression study found: “When the Federal Reserve increases money supply by 1%, gold prices increase by 0.94%.” A 2023 academic paper: “Confirms a long-term relationship between gold price and US M2.” Note that M1’s 2021 redefinition has now made it nearly identical to M1.

Period yearly change (percent).

Sources: OECD and World Bank.

However, the authors of Austrian School for Investors (2015) wrote: “Gold does not correlate with the rate of inflation as such, but with the rate of change of the inflation rate. In order to buttress this hypothesis, we calculated the regression depicted in (the chart below).”

Source: Austrian School for Investors: Austrian Investing between Inflation and Deflation.

In conclusion, as per my Wokenomics 101 (2023) ghost blog, money inflation by: “increasing demand puts upward pressure on price and quantity and downward pressure on quality.” That puts upward pressure on: nominal CPI and GDP statistics; as well as real gold investment and price.

Inflation doesn’t harm all. It helps some. They are the “Bootleggers and Baptists,” as Public Choice economist Bruce Yandle dubbed them in 1983. Bootleggers are crony capitalists, politicians and bureaucrats whose inflated revenue outpaces costs. Baptists are the “useful idiots.”

Thus, “Follow the Money” back to the “inflationistas” of: Big Business; Big Government; and Big Banks. All gain supernormal profits from easy money: one, making more money; two, collecting more money; and three, creating more money. Also, “Follow the Money” when it comes to gold.

And, sadly, there is one policy that is always bipartisan; print more money. But, gladly, gold will always win.

About Darren Brady Nelson

Darren Brady Nelson is chief economist with Fisher Liberty Gold and policy advisor to The Heartland Institute. He previously was economic advisor to Australian Senator Malcolm Roberts. He authored the Ten Principles of Regulation and Reform, and the CPI-X approach to budget cuts.

This post appeared first on investingnews.com

Statistics Canada released June’s consumer price index (CPI) data on Tuesday (July 15). The report showed that year-over-year inflation gained momentum during the month, rising to 1.9 percent from the 1.7 percent recorded in May.

The increase was attributed in part to the 13.4 percent year-over-year decline in gas prices seen in June, as it was a smaller drop than May’s 15.5 percent decrease caused by the removal of the consumer carbon tax.

Other factors contributing to the rise included a 2.7 percent increase in durable goods, with passenger vehicles posting the largest gains at 4.1 percent. Grocery prices also increased 2.8 percent, although they eased off from a 3.3 percent increase in May.

While economists had predicted a larger 2 percent rise in CPI, the figures still make it unlikely that the Bank of Canada will cut its benchmark rate at its next meeting on July 30. Canada’s central bank has cut its interest rates seven times since June 2024, lowering it from 5 percent to 2.75 percent in March.

South of the border, the US Bureau of Labor Statistics also released its June CPI data the same day, reporting year-over-year growth of 2.7 percent, sharply up from the 2.4 percent gain posted in May. On a monthly basis, CPI rose 0.3 percent, also higher than May’s 0.1 percent.

Analysts have attributed the gain to an increase in prices resulting from US President Donald Trump’s tariff policy, as vendors restocked shelves with inventories purchased after tariffs were applied.

Goods and services increased across the board, except for new and used vehicles, which declined by 0.3 percent and 0.7 percent on a monthly basis. Energy rose 0.9 percent, including a 1 percent increase in gasoline prices, a reversal from May’s energy and gas price decreases of 1 percent and 2.6 percent respectively.

The data will likely play a role in what the US Federal Reserve decides during its next rate meeting on July 29 and 30. Economist consensus is that the central bank will continue to hold at the current 4.25 to 4.5 percent range.

Markets and commodities react

In Canada, equity markets were mostly positive this week. The S&P/TSX Composite Index (INDEXTSI:OSPTX) gained 1 percent to close at 27,314.01 on Friday (July 18) and set a new all-time high during the week. The S&P/TSX Venture Composite Index (INDEXTSI:JX) fared even better this week, gaining 2.53 percent to 797.75. However, the CSE Composite Index (CSE:CSECOMP) fell 2.6 percent to 126.84.

As for US equity markets, the S&P 500 (INDEXSP:INX) gained 0.66 percent to close Friday at 6,296.78 and the Nasdaq 100 (INDEXNASDAQ:NDX) climbed 1.35 percent to 23,065.47, with both also setting new record highs during the week. On the other hand, the Dow Jones Industrial Average (INDEXDJX:.DJI) fell 0.1 percent to 44,342.20.

In precious metals, the gold price rose 0.78 percent over the week to US$3,349.66 by Friday at 5 p.m. EDT. Meanwhile, the silver price continued to trade near 11-year highs, climbing 3.13 percent on the week to US$38.15 per ounce.

In base metals, copper ended the week were it started out, but was still trading near all time highs at US$5.60 per pound. The S&P GSCI (INDEXSP:SPGSCI) posted a 1.26 percent gain to finish the week at 551.61.

Top Canadian mining stocks this week

How did mining stocks perform against this backdrop?

Take a look at this week’s five best-performing Canadian mining stocks below.

Stock data for this article was retrieved at 4 p.m. EDT on Friday using TradingView’s stock screener. Only companies trading on the TSX, TSXV and CSE with market capitalizations greater than C$10 million are included. Mineral companies within the non-energy minerals, energy minerals, process industry and producer manufacturing sectors were considered.

1. Altima Energy (TSXV:ARH)

Weekly gain: 97.96 percent
Market cap: C$43.99 million
Share price: C$0.97

Altima Energy is a light oil and natural gas exploration and development company with operations in Alberta, Canada.

Its primary asset is the Richdale property in Central Alberta. The property consists of five producing light oil wells and sits on 5,920 acres of long-term reserves. The property hosts combined proved and probable reserves of just under 2 billion barrels of oil equivalent, with a pre-tax net present value of C$25.8 million.

The company also owns two wells at its Twinning light oil site near Nisku, seven producing wells at its Red Earth property in Northern Alberta and two multi-zone wells at its Chambers Ferrier liquid gas production property.

Shares in Altima started to gain after it released news on July 8 that it had completed a private placement for proceeds of up to C$5.5 million. Under the terms of the deal, the company will issue 20 million units at C$0.275 per unit, which each include one common share and one warrant allowing the holder to purchase a common share for C$0.40.

The company said that part of the proceeds would be used to complete field upgrades at its Red Earth and Richdale properties.

2. Kirkland Lake Discoveries (TSXV:KLDC)

Weekly gain: 81.82 percent
Market cap: C$11.26 million
Share price: C$0.10

Kirkland Lake Discoveries is a gold and copper exploration company focused on projects in its district-scale land package located in the Kirkland Lake area of Ontario, Canada.

Its holdings span an area of approximately 38,000 hectares in the Abitibi Greenstone Belt that has been host to past-producing gold and copper mines. It is broadly divided into KL West and KL East, which contain the Goodfish-Kirana and Lucky Strike gold projects, respectively, among others.

On April 29, the company announced it entered into a mining option agreement with Val-d’Or Mining (TSXV:VZZ) to acquire a 100 percent interest in the Winnie Lake and Amikougami properties, as well as mining claim purchase agreements with two vendors to acquire further claims around the Winnie Lake Pluton. The properties expand KL West’s southern portion.

Following the agreement, the company conducted grab samples at the Winnie Lake property and reported the results on July 9. One grab sample collected near the historic Winnie Shaft zone yielded grades of 1.6 grams per metric ton (g/t) gold, 28.2 g/t silver, 5.7 percent copper, 5.3 percent zinc and 1.65 g/t tellurium.

The company also discovered a quartz-veined intrusive outcrop 150 meters west of the shaft during field prospecting, with samples displaying characteristics of magmatic-hydrothermal copper-gold systems, including visible malachite and strong potassic alteration.

Additionally, Kirkland Lake reported it has received full drill permits for Winnie Lake and plans to initiate activities at the site this summer, focusing on the newly defined zones.

3. Happy Creek Minerals (TSXV:HPY)

Weekly gain: 70 percent
Market cap: C$10.33 million
Share price: C$0.085

Happy Creek Minerals is an exploration company focused on advancing a portfolio of assets in British Columbia, Canada.

Its primary focus has been on its Fox tungsten property located in the South Caribou region of the province. It comprises 135.9 square kilometers of mineral tenure and hosts deposits containing tungsten, molybdenum, zinc, indium, gold and silver. In total, 21,125 meters of exploration drilling have been carried out at the site, primarily in shallow holes, for resource definition.

Happy Creek’s share price began climbing Tuesday after the company announced a non-brokered private placement to raise gross proceeds of up to C$3.25 million in flow-through units at C$0.07 per share and non-flow-through units at C$0.05 per share.

The following day, Happy Creek upsized the offering to C$3.75 million.

The company plans to use the gross proceeds for drilling, exploration and development at Fox, as well as other exploration work in the Caribou.

4. Camino Minerals (TSXV:COR)

Weekly gain: 56.52 percent
Market cap: C$13.5 million
Share price: C$0.36

Camino Minerals is a copper exploration and development company with a portfolio of projects in Chile and Peru.

Earlier in 2025, the company shifted its focus to its newly acquired, construction-ready Puquois copper project in Chile.

In October 2024, Camino entered a definitive agreement to create a 50/50 joint venture with Nittetsu Mining (TSE:1515) that would acquire Cuprum Resources, which owns the Puquios project. The partners completed the acquisition April 17 and said they would turn their attention to project financing.

On March 17, Camino filed a prefeasibility study for the project. The study results demonstrate a post-tax net present value of US$118 million, with an internal rate of return of 23.4 percent and a payback period of 3.1 years at a fixed copper price of US$4.28. It also outlines all-in sustaining costs of US$2.00 per pound over a 14.2 year mine life.

In addition to the economic details, the included mineral resource estimate shows a measured and indicated resource of 149,000 metric tons of copper from 32.16 million metric tons of ore grading 0.46 percent copper.

Camino also owns the Los Chapitos project, which has been a long-time focus of the company. The project covers approximately 22,000 hectares near the coastal town of Chala, Peru, and hosts near-surface mineralization.

Camino has been conducting exploration efforts at Los Chapitos throughout the first half of 2025. On Wednesday, it reported trench results from the newly identified Mirador zone, including 1.07 percent copper over 90 meters, with a four-meter section containing 3.05 percent copper.

5. Solstice Gold (TSXV:SGC)

Weekly gain: 56.25 percent
Market cap: C$29.38 million
Share price: C$0.125

Solstice Gold is an exploration company focused on its flagship Strathy gold project in Ontario, which it acquired in June 2024.

The project consists of 45 claims covering an area of 45 square kilometers in the Temagami Greenstone belt. Historical documents report six gold showings in the central portion of the project areas, with documented mineralization at the Leckie prospect.

In its latest project update on July 2, Solstice announced it had wrapped up its spring drill program, which focused on four target areas. In total, the company completed 3,125 meters of drilling across 14 holes, and results are expected in July.

The company also reported that it had entered into an agreement to acquire 17 additional claims, which would increase the project area by 50 percent. It added that targets identified from its IP program may extend along strike into these claims.

FAQs for Canadian mining stocks

What is the difference between the TSX and TSXV?

The TSX, or Toronto Stock Exchange, is used by senior companies with larger market caps, and the TSXV, or TSX Venture Exchange, is used by smaller-cap companies. Companies listed on the TSXV can graduate to the senior exchange.

How many mining companies are listed on the TSX and TSXV?

As of February 2025, there were 1,572 companies listed on the TSXV, 905 of which were mining companies. Comparatively, the TSX was home to 1,859 companies, with 181 of those being mining companies.

Together the TSX and TSXV host around 40 percent of the world’s public mining companies.

How much does it cost to list on the TSXV?

There are a variety of different fees that companies must pay to list on the TSXV, and according to the exchange, they can vary based on the transaction’s nature and complexity. The listing fee alone will most likely cost between C$10,000 to C$70,000. Accounting and auditing fees could rack up between C$25,000 and C$100,000, while legal fees are expected to be over C$75,000 and an underwriters’ commission may hit up to 12 percent.

The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance.

These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports.

How do you trade on the TSXV?

Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange’s trading hours.

Article by Dean Belder; FAQs by Lauren Kelly.

Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.

Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Elon Musk’s health tech company Neuralink labeled itself a “small disadvantaged business” in a federal filing with the U.S. Small Business Administration, shortly before a financing round valued the company at $9 billion.

Neuralink is developing a brain-computer interface (BCI) system, with an initial aim to help people with severe paralysis regain some independence. BCI technology broadly can translate a person’s brain signals into commands that allow them to manipulate external technologies just by thinking.

Neuralink’s filing, dated April 24, would have reached the SBA at a time when Musk was leading the Trump administration’s Department of Government Efficiency. At DOGE, Musk worked to slash the size of federal agencies.

MuskWatch first reported on the details of Neuralink’s April filing.

According to the SBA’s website, a designation of SDB means a company is at least 51% owned and controlled by one or more “disadvantaged” persons who must be “socially disadvantaged and economically disadvantaged.” An SDB designation can also help a business “gain preferential access to federal procurement opportunities,” the SBA website says.

The Department of Justice has previously fined companies for making false claims about their SDB status.

Musk, the world’s wealthiest person, is CEO of Tesla and SpaceX, in addition to his other businesses like artificial intelligence startup xAI and tunneling venture The Boring Company. In 2022, Musk led the $44 billion purchase of Twitter, which he later named X before merging it with xAI.

Jared Birchall, a Neuralink executive, was listed as the contact person on the filing from April. Birchall, who also manages Musk’s money as head of his family office, didn’t immediately respond to a request for comment.

Neuralink, which incorporated in Nevada, closed a $650 million funding round in early June at a $9 billion valuation. ARK Invest, Peter Thiel’s Founders Fund, Sequoia Capital and Thrive Capital were among the investors. Neuralink said the fresh capital would help the company bring its technology to more patients and develop new devices that “deepen the connection between biological and artificial intelligence.”

Under Musk’s leadership at DOGE, the initiative took aim at government agencies that emphasized diversity, equity and inclusion (DEI). In February, for example, DOGE and Musk boasted of nixing hundreds of millions of dollars worth of funding for the Department of Education that would have gone towards DEI-related training grants.

This post appeared first on NBC NEWS

One great habit to develop as an investor is regularly scanning the stock market. Whether you’re checking for stocks that are outperforming a benchmark, gapping up, reversing, or breaking out of a trading range, scanning keeps you in the loop and, importantly, helps you stay sharp and spot potential opportunities early on. 

During one of our routine scans, one stock stood out: Rigetti Computing, Inc. (RGTI), a company in a fast-moving quantum computing space. On Wednesday, RGTI closed the day up 30%, which turned some heads. What’s behind the move? Rigetti announced significant improvements in its platform, better performance metrics, and the 36-qubit system, a technical milestone in the quantum world.  

Should You Invest in RGTI?

If you ran any of the bullish predefined scans on StockCharts, you may have noticed RGTI popping up. That alone is a good reason to take a closer look at RGTI stock’s price action.

Looking at the daily chart of RGTI, the stock had a nice ride in late 2024. However, things cooled off in early January 2025 and, since then, the stock has been trading sideways until this week. On Wednesday, RGTI gapped up with strong volume, breaking out of that sideways range.

FIGURE 1. DAILY CHART OF RGTI STOCK. Since its rise in late 2024, the stock has been trading sideways until Wednesday, when it broke out of that range. Chart source: StockCharts.com. For educational purposes.

Back in June, RGTI bounced off its 50-day simple moving average (SMA), which is starting to slope upward—a healthy technical signal. With Wednesday’s price move, RGTI is above its May 27 and July 8 highs.

RGTI’s price isn’t too far from its all-time high, set in January. If the stock breaks above that level and has strong momentum, we could see it push to new highs. The Relative Strength Index (RSI) and Percentage Price Oscillator (PPO) are showing early signs of positive momentum.

On the other hand, if the stock pulls back and Wednesday’s gap up doesn’t get filled, RGTI could reverse either at the May 27 or July 8 high. A reversal with a rise in momentum would confirm an upside continuation. If RGTI falls below these levels, fills Wednesday’s gap up, and finds support at the 50-day SMA, it could go back to trading sideways, waiting for the next catalyst. A decline below the 50-day SMA would invalidate the uptrend.

A Rising Tide in Quantum Stocks?

Other stocks in the Quantum Computing space, like IonQ, Inc. (IONQ) and D-Wave Quantum, Inc. (QBTS), also saw gains on Wednesday.

Quantum computing stocks can be a bit of a roller coaster; they rallied at the end of 2024, dipped earlier this year, and are now gaining ground, thanks to encouraging news on quantum computing developments. The technology is in its early stages and could take years before it’s truly mainstream. So while these stocks are gaining attention now, the momentum may not be consistent.

If you’re a long-term investor with patience and curiosity, it may be worth adding RGTI, QBTS, ION, and others to your ChartLists. Track them regularly and watch for continued technical strength or signs of trend reversals. 


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.

There is no denying that the broad markets remain in a resilient uptrend off the April 2025 low.  But if there’s one thing I’ve learned from many years of analyzing charts, it’s to remain vigilant during bullish phases.  Even though I’ll assume the uptrend is still intact, that doesn’t mean I can stop looking for signs of potential weakness!

With that in mind, here are three bearish candle patterns that often pop up during bullish market phases.  By looking for these patterns in the stocks and ETFs that you own, you can hopefully get ahead of any corrective moves and take profits before it’s too late!

The Shooting Star Pattern

If you see a long upper shadow, little to no lower shadow, and the open and close are close together near the bottom of the day’s range, then you have identified a shooting star candle pattern.  If you’re familiar with the hammer candle pattern, then you can think of this as a hammer candle but basically everything is upside down!

The chart of AT&T (T) has featured a number of shooting star candles so far in 2025.  Just before the selloff in early April, there was a clear shooting star candle after the March rally.  Then during the rally off the April low, a shooting star pattern in early May suggested that the uptrend phase was nearing an exhaustion point.

The Bearish Engulfing Pattern

One of the most recognizable patterns in the candlestick library, the bearish engulfing pattern represents a short-term rotation from accumulation to distribution.  Basically, a large up candle is followed by a large down candle, and the second day’s “real body” (the open-to-close range) engulfs the range of the first day’s real body.  

Look at the strength in the uptrend for Paramount Global (PARA) going into early June.  Then just before the 4th of July weekend, a bearish engulfing pattern suggests a change of character as the bears take control.  It’s worth noting that these candle patterns are not long-term signals, but rather indicate short-term dynamics.  So a bearish engulfing pattern suggests weakness for the next one to three bars.

The Evening Star Pattern

If you took the bearish engulfing pattern, and then added another small candle in the middle of those two days, then you’d have an evening star pattern.  Now most candlestick textbooks will tell you that the “star” day in the middle should include a gap, so there’s no overlap between that day’s range and the other two candles.  In practice, I’ve found most people ignore this detail and rather look for patterns with enough similarities to this basic structure.

Going back to the AT&T chart we used earlier, we can see an evening star pattern at the end of June.  A big day is followed soon after by a big down day, with a small candle in the middle.  This is a great example of where additional weakness led the price below the 50-day moving average, serving to confirm the bearish outlook as represented by the evening star pattern.

It’s so easy to become complacent during an extended bull market rally.  Investors that regularly scan for bearish candle patterns have an edge, as they can anticipate potential turning points before the uptrend changes in dramatic fashion to a new downtrend phase!

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.

Join Tom as he covers key inflation data, earnings season highlights, and sector rotation trends. He breaks down recent price action in major indexes like the S&P 500 and Nasdaq, with a close look at the 20-day moving average as a support gauge. Tom spotlights standout industry groups such as gambling, semiconductors, software, and aerospace, and shares charts of top-performing stocks like Goldman Sachs, Johnson & Johnson, and PNC. Tom highlights under-performing areas like insurance brokers and home improvement, then reviews several strong earnings reactions, including Monarch Casino’s 15% after-hours gain.

This video was published on July 17, 2025. Click this link to watch on Tom’s dedicated page.

Missed a session? Archived videos from Tom are available at this link

People for the Ethical Treatment of Animals (PETA) is applauding a letter sent Thursday by Republican lawmakers to National Institutes of Health (NIH) Director Dr. Jay Bhattacharya, urging the agency to stop using taxpayer dollars for experiments on animals conducted in foreign laboratories. 

The letter, signed by Rep. Troy Nehls, R-Texas, and Sen. Rick Scott, R-Fla., highlights concerns about the lack of oversight and inadequate standards in certain foreign facilities. 

The bipartisan Cease Animal Research Grants Overseas (CARGO) Act—led by the Republicans along with Rep. Dina Titus, D-Nev., and Sen. Cory Booker, D-N.J.—seeks to end NIH funding for animal experiments outside the U.S. and ensure taxpayer dollars are not misused for the unnecessary suffering of animals.

Between 2011 and 2021, the NIH issued more than $2.2 billion in grants for controversial research in 45 countries.

According to the letter, the ‘research’ included genetically altering cats to be born with deformed legs, infecting bats with diseases that were transmissible and fatal to humans, and force-feeding mice human feces.

Nehls and Scott noted there are little to no inspections at the facilities where research is conducted or where the animals are housed, and there is inadequate auditing of foreign NIH-funded animal studies, resulting in significant gaps in oversight and accountability of how taxpayer dollars are being used. 

‘It is deeply concerning that American taxpayer dollars have been used to fund harmful and abusive animal experiments overseas that lack the same oversight and accountability as labs here in the United States,’ Nehls and Scott wrote in the letter. ‘…It is a waste of resources that should be allocated to more ethical and effective research practices that do not involve animals.’

PETA Senior Vice President Kathy Guillermo said the organization is grateful to Nehls, Scott, Titus and Booker for serving as the lead sponsors of the CARGO Act.

‘This effort represents a significant step in halting cruel and wasteful animal experimentation abroad, and it aligns with the Trump Administration’s broader shift toward more relevant, non-animal research methods,’ Guillermo wrote in a statement to Fox News Digital. ‘We are excited to continue working alongside these dedicated lawmakers to pass the CARGO Act and ensure that taxpayer money is no longer used to support pointless and unethical research.’

The CARGO Act was introduced following a PETA investigation into Caucaseco Scientific Research Center, a discredited Colombian laboratory with a history of violating animal care standards. 

Caucaseco Scientific Research Center received more than $17 million in U.S. funding, and the Biden administration’s NIH encouraged additional funding, even after it was caught confining monkeys in filthy conditions, leaving them to die from infected wounds, and starving mice to the point of cannibalism, according to PETA.

The PETA investigation reportedly led to multiple investigations by local authorities, the rescues of 108 monkeys and 180 mice, and the retraction of a research publication.

‘The letter’s request for NIH to immediately cease funding animal experiments in foreign labs is a crucial step toward protecting animals and ensuring taxpayer dollars are used responsibly,’ Guillermo wrote. ‘PETA remains committed to advocating for legislative and policy changes that prioritize ethical, practical, and non-animal research.’

This post appeared first on FOX NEWS

State Department spokesperson Tammy Bruce said the United States does not support recent Israeli airstrikes on Syria and called for ‘dialogue’ between the two Middle East powers.

‘The United States unequivocally condemns the violence. All parties must step back and engage in meaningful dialogue that leads to a lasting ceasefire,’ Bruce announced at a State Department press briefing Thursday afternoon. 

On Wednesday, Israeli airstrikes in the Syrian capital of Damascus struck the country’s Defense Ministry headquarters and an area near the presidential palace, killing three and injuring dozens of others, according to reports. 

The Israeli military said it was intervening to defend the minority Druze population in southern Syria, a community that shares a border with Israel, amid armed skirmishes between local Bedouin Sunni tribes and the recently installed Syrian government.

‘We are acting decisively to prevent the entrenchment of hostile elements beyond the border, protect Israeli citizens and prevent harm to Druze civilians,’ Eyal Zamir, chief of the Israeli Defense Forces’ general staff, said during a situational assessment at the Syrian border.

Secretary of State Marco Rubio announced Wednesday afternoon that an agreement had been reached between Israel and Syria to end the ‘troubling and horrifying situation.’

‘This will require all parties to deliver on the commitments they have made, and this is what we fully expect them to do,’ he added.

‘Thankful to all sides for their break from chaos and confusion as we attempt to navigate all parties to a more durable and peaceful solution in Syria,’ U.S. Special Envoy to Syria Tom Barrack added.

When asked Thursday what prompted the Israeli strikes and whether the U.S. suspected any foreign fighters, like ISIS, of being involved in the conflict in Syria between the Bedouins and the Druze, Bruce said there will need to be continued investigation to figure out exactly why this Israeli airstrike occurred.

Rubio said Wednesday he believed Israel’s strike on the Syrian capital of Damascus was ‘likely’ due to ‘a misunderstanding.’

Bruce on Thursday responded to reporters’ questions about what U.S. officials meant when they said ‘confusion’ and ‘misunderstanding’ from Israel were what led to their involvement. 

‘This is an ancient rivalry between the Druze and the Bedouins and violence ensued, the Syrians moving to that area to quell and stop that violence. And the Israelis, who see that occurring to the Druze community and their concerns, then entered what they assessed was something larger than what, or even not what it was at all,’ Bruce said at Thursday’s briefing. 

‘The good news is, the story is, it stopped, as within the management of that larger conflict. Again, there’s still skirmishes and other issues. … The Syrian government is going to have to lead — obviously, there will be other involvement — but lead in to this de-escalation and to the stability.’

Fox News Digital’s Caitlin McFall contributed to this report.

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Senators are not thrilled with a top White House official’s comments that the government funding process should become more partisan, and fear that doing so could erode Congress’ power of the purse.

Office of Management and Budget Director Russ Vought told reporters during a Christian Science Monitor Breakfast Thursday morning that he believed ‘the appropriations process has to be less bipartisan.’

His sentiment came on the heels of Senate Republicans advancing President Donald Trump’s $9 billion clawback package, which would cancel congressionally approved funding for foreign aid and public broadcasting, just a few hours before.

Unlike the hyper-partisan bills that have dominated the Senate’s recent agenda, including the rescissions package and the president’s ‘big, beautiful bill,’ the appropriations process is typically a bipartisan affair in the upper chamber.

That is because, normally, most bills brought to the floor have to pass the Senate’s 60-vote threshold, and with the GOP’s narrow majority, Senate Democrats will need to pass any spending bills or government funding extensions to ward off a partial government shutdown.

Senate Majority Leader Chuck Schumer, D-N.Y., who alluded to issues down the line with the appropriations process if Republicans advanced Trump’s resicssions package, took a harsh stance against Vought. 

‘Donald Trump should fire Russell Vought immediately, before he destroys our democracy and runs the country into the ground,’ Schumer said. 

Members of the Senate Appropriations Committee also did not take kindly to Vought’s comments.

‘I think he disrespects it,’ Sen. Lisa Murkowski, R-Alaska, said. ‘I think he thinks that we are irrelevant, and I wish I had actually heard the speech, because, you know, again, everything in context.’

‘But you have to admit that when you look at the quotes that are highlighted in the story this morning, it is pretty dismissive of the appropriations process, pretty dismissive,’ she continued.

Vought has no intention of slowing the rescissions train coming from the White House, and said that there would be more rescissions packages on the way.

He noted another would ‘come soon,’ as lawmakers in the House close in on a vote to send the first clawback package to the president’s desk.

‘There is no voter in the country that went to the polls and said, ‘I’m voting for a bipartisan appropriations process,’’ Vought said. ‘That may be the view of something that appropriators want to maintain.’

Both Murkowski and Senate Appropriations Chair Susan Collins, R-Maine, voted against the rescissions package, and warned of the cuts to public broadcasting, lack of transparency from the OMB and the possible effect it could have on legislating in the upper chamber.

‘I disagree with both those statements,’ Collins said of Vought’s push for a more partisan appropriations process. ‘Just as with the budget that the President submitted, we had to repeatedly ask him and the agencies to provide us with the detailed account information, which amounts to 1000s of pages that our appropriators and their staff meticulously review.’

Fox News Digital reached out to the OMB for comment. 

Vought’s comments came at roughly the same time as appropriators were holding a mark-up hearing of the military construction and veterans’ affairs and Commerce, Justice and Science spending bills.

Sen. Patty Murray, the top Democrat on the Senate Appropriations Committee, said during the hearing that Senate Republicans coalescing behind the rescissions package would only make hammering out spending bills more difficult, and argued that ‘trust’ was at the core of the process.

‘That’s part of why bipartisan bills are so important,’ she said. ‘But everyone has to understand getting to the finish line always depends on our ability to work together in a bipartisan way, and it also depends on trust.’

Other Republicans on the panel emphasized a similar point, that, without some kind of cooperation, advancing spending bills would become even more challenging.

Sen. John Hoeven, R-N.D., said that finding ‘critical mass’ to move spending bills was important, and warned that people have to ‘quit saying it’s gotta just be my way or the highway,’ following threats Schumer’s threats last week that the appropriations process could suffer should the rescissions package pass. 

‘People better start recognizing that we’re all gonna have to work together and hopefully get these [appropriations] bills to the floor and see what we can move,’ he said. ‘But if somebody just sits up and says, ‘Oh, because there’s a rescission bill, then I’m not going to work on Appropriations,’ you can always find an excuse not to do something. Let’s figure out how we can work forward.’

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What can you get for $9.4 billion?

3G Capital recently purchased footwear giant Skechers for $9.4 billion. 

$9.4 billion could cover your rent for a pretty nice apartment in New York City for more than 40,000 years. 

Yes, it will just be you and the cockroaches by then. 

Or, you could pay the cost of every major disaster in the past four decades – ranging from Chernobyl to Fukushima to Hurricane Sandy. 

But $9.4 billion isn’t a lot when cast against nearly $7 trillion in annual spending by the federal government. 

And it’s really not much money when you consider that the U.S. is about slip into the red to the tune of $37 trillion. 

Which brings us to the Congressional plan to cancel spending. That is, a measure from Republicans and the Trump Administration to rescind spending lawmakers already appropriated in March. The House and Senate are now clawing back money lawmakers shoved out the door for the Corporation for Public Broadcasting and foreign aid programs under USAID. The original proposal cut $9.4 billion. But that figure dwindled to $9 billion – after the Senate restored money for ‘PEPFAR,’ a President George W. Bush era program to combat AIDS worldwide. 

In other words, you may have a couple thousand years lopped off from your rent-controlled apartment in New York City. Of course that hinges on what Democratic mayoral nominee Zorhan Mamdani decides to do, should he win election this fall. 

Anyway, back to Congressional spending. Or ‘un-spending.’ 

The House passed the original version of the bill in June, 216-214. Flip one vote and the bill would have failed on a 215-215 tie. Then it was on to the Senate. Republicans had to summon Vice President Vance to Capitol Hill to break a logjam on two procedural votes to send the spending cancellation bill to the floor and actually launch debate. Republicans have a 53-47 advantage in the Senate. But former Senate Majority Leader Mitch McConnell, R-Ky., along with Sens. Lisa Murkowski, R-Alaska and Susan Collins, R-Maine, voted nay – producing a 50-50 tie.

Fox is told some Senate Republicans are tiring of McConnell opposing the GOP – and President Trump – on various issues. That includes the nay votes to start debate on the spending cancellation bill as well as his vote against the confirmation of Defense Secretary Pete Hegseth in January.

‘He used to be the Leader. He was always telling us we need to stick together,’ said one GOP senator who requested anonymity. ‘Now he’s off voting however he wants? How time flies.’

Note that McConnell led Senate Republicans as recently as early January.

But McConnell ultimately voted for the legislation when the Senate approved it 51-48 at 2:28 am ET Thursday morning. 

Murkowski and Collins were the only noes. The services of Vice President Vance weren’t needed due to McConnell’s aye vote and the absence of Sen. Tina Smith, D-Minn. She fell ill and was admitted to George Washington Hospital for exhaustion. 

As for the senior senator from Alaska, one GOP senator characterized it as ‘Murkowski fatigue.’

‘She always asking. She’s always wanting more,’ groused a Senate Republican.

Murkowski secured an agreement on rural hospitals in exchange for her vote in favor of the Big, Beautiful Bill earlier this month. However, Murkowski did not secure more specificity on the DOGE cuts or help with rural, public radio stations in Alaska on the spending cut plan.

‘My vote is guided by the imperative of coming from Alaskans. I have a vote that I am free to cast, with or without the support of the President. My obligation is to my constituents and to the Constitution,’ said Murkowski. ‘I don’t disagree that NPR over the years has tilted more partisan. That can be addressed. But you don’t need to gut the entire Corporation for Public Broadcasting.’ 

In a statement, Collins blasted the Trump administration for a lack of specificity about the precision of the rescissions request. Collins, who chairs the Senate Appropriations Committee in charge of the federal purse strings, also criticized the administration a few months ago for a paucity of detail in the President’s budget. 

‘The rescissions package has a big problem – nobody really knows what program reductions are in it.  That isn’t because we haven’t had time to review the bill,’ said Collins in a statement. ‘Instead, the problem is that OMB (the Office of Management and Budget) has never provided the details that would normally be part of this process.’

Collins wasn’t the only Republican senator who worried about how the administration presented the spending cut package to Congress. Senate Armed Services Committee Chairman Roger Wicker, R-Miss.,  fretted about Congress ceding the power of the purse to the administration. But unlike Collins, Wicker supported the package.

‘If we do this again, please give us specific information about where the cuts will come. Let’s not make a habit of this,’ said Wicker. ‘If you come back to us again from the executive branch, give us the specific amounts in the specific programs that will be cut.’

DOGE recommended the cuts. In fact, most of the spending reductions targeted by DOGE don’t go into effect unless Congress acts. But even the $9.4 billion proved challenging to cut. 

‘We should be able to do that in our sleep. But there is looking like there’s enough opposition,’ said Sen. Rand Paul, R-Ky., on Fox Business.

So to court votes, GOP leaders salvaged $400 million for PEPFAR.

‘There was a lot of interest among our members in doing something on the PEPFAR issue,’ said Senate Majority Leader John Thune, R-S.D. ‘You’re still talking about a $9 billion rescissions package – even with that small modification.’

The aim to silence public broadcasting buoyed some Republicans.

‘North Dakota Public Radio – about 26% of their budget is federal funding. To me, that’s more of an indictment than it is a need,’ said Sen. Kevin Cramer, R-N.D. 

But back to the $9 billion. It’s a fraction of one-tenth of one percent of all federal funding. And DOGE recommended more than a trillion dollars in cuts.

‘What does this say for the party if it can’t even pass this bill, this piddling amount of money?’ yours truly asked Sen. John Kennedy, R-La.

‘I think we’re going to lose a lot of credibility. And we should,’ replied Kennedy.

But the House needed to sync up with the Senate since it changed the bill – stripping the cut for AIDS funding. House conservatives weren’t pleased that the Senate was jamming them again – just two weeks after major renovations to the House version of the Big, Beautiful Bill. But they accepted their fate.

‘It’s disappointing that we’re $37 trillion in debt. This to me was low-hanging fruit,’ said Rep. Eric Burlison, R-Mo. ‘At the end of the day, I’ll take a base hit, right? It’s better than nothing.’

White House Budget Director Russ Vought is expected to send other spending cancellation requests to Congress in the coming months. The aim is to target deeper spending reductions recommended by DOGE. 

But it doesn’t auger well for future rescissions bills if it’s this much of a battle to trim $9 trillion.

What can you get for that much money? For Republicans, it’s not much. 

Republicans were swinging for the fences with spending cuts.

But in the political box score, this is recorded as just a base hit.

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