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August 27, 2024

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Stock Market Today: Two Sectors That Can Make Sizable Moves

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Have you ever been in a plane that keeps circling around, waiting to land? That’s what the stock market feels like right now. Investors are rotating from one sector to another, waiting for direction from the control tower.

How Does an Investor Get Direction? 

There are many tools out there, but one tool that gives you a quick aerial view of the entire stock market is the MarketCarpets from StockCharts.

FIGURE 1. THE STOCKCHARTS MARKETCARPETS. In one glance you can identify the strongest and weakest sectors.Image source: StockCharts.com. For educational purposes.

Looking at the one-day change performance of the S&P 500, there’s mixed activity in equity trading. Technology is the leading sector, followed by Financials. Energy, and Utilities are the laggards.

One factor you can see right away is the mixed activity in the Mag 7 stocks. Nvidia (NVDA) is in the spotlight, since it could provide direction this week—it’s reporting quarterly earnings on Wednesday after the close. The stock was up 1.46% on Tuesday. Apple (AAPL) increased slightly, and Microsoft (MSFT) even less. Amazon.com (AMZN), Tesla (TSLA), Alphabet (GOOGL), and Meta Platforms (META) closed lower.

It’ll be interesting to see how much NVDA’s stock price moves after it reports earnings. Will it still have the impact it did before the stock price pulled back? We’ll have to wait until Wednesday’s after-hours market activity and see how much higher the stock price moves if the earnings report is positive, or how much lower it goes if earnings miss expectations.

With Fed rate cuts on the horizon, investors may rotate out of tech and into financial stocks or other small-cap stocks, especially if NVDA misses. Lower interest rates help financial stocks, so it’s not surprising that Financials took the number two spot.

The weekly chart of the Financial Select Sector SPDR Fund (XLF), the StockCharts proxy for the Financial sector, displays a solid upward trend since mid-November. The ETF closed at a new all-time high today (August 27, 2024).

FIGURE 2. XLF HITS ALL-TIME HIGH. The Financial sector has been trending higher, finding support at its 21-week exponential moving average (EMA). The relative strength index (RSI) is just at the overbought level.Chart source: StockChartsACP. For educational purposes.

XLF is trading above its 21-week exponential moving average (EMA), which can be the first support level to watch. With the relative strength index (RSI) at around 70, there’s still room for XLF to go higher. Look at how much the ETF moved the last time it was above 70!

Closing Position

The stock market is dynamic, and one day doesn’t make a trend. Tomorrow could reflect a different story. Tools such as the MarketCarpet can help you become engaged with stock market activity without scrolling through several charts.

Explore the different ways to use the StockCharts MarketCarpets.

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.

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Stock

Three Technology Stocks in Make or Break Scenarios

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In this edition of StockCharts TV‘s The Final Bar, Dave focuses in on three key charts to watch in the technology sector as investors anxiously await NVDA earnings and Friday’s inflation data. He also shares two important charts for tracking improving market breadth conditions and highlights the continued weakness in retail and entertainment stocks.

See Dave’s chart of the “Newer Dow Theory” here!

This video originally premiered on August 27, 2024. Watch on our dedicated Final Bar page on StockCharts TV!

New episodes of The Final Bar premiere every weekday afternoon. You can view all previously recorded episodes at this link.

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Economy

Vance claims ‘Democrats are helping China’ in pitch to autoworkers at Big Rapids campaign event

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Republican vice presidential candidate, Sen. JD Vance of Ohio, speaking near the site of a major electric vehicle battery factory project, charged that Democratic presidential candidate Vice President Kamala Harris and the current Democratic administration ‘are helping China destroy and replace our auto industry from the inside out.’

Vance held a campaign event Tuesday in Big Rapids, Michigan near where Gotion Inc., a company that, according to FARA filings, was quietly registered as a Chinese foreign principal in 2023, is planning to build a $2.4 billion electric vehicle battery plant.

Vance said that Harris’ ‘tie-breaking vote that she cast to send inflation through the roof,’ referring to the Inflation Reduction Act of 2022, made ‘Chinese companies like Gotion eligible for millions of your taxpayer dollars.’

‘Even some of the folks in Obama’s administration said that the Gotion factory plant is a threat to America’s national security,’ Vance told the audience. ‘But Kamala Harris not only wants to allow the Chinese Communist Party to build factories on American soil, she wants to pay them to do it with our tax money.’

‘Democrats in this state, and including Kamala Harris, want to give hundreds of millions of dollars to those same companies that have been undercutting Michigan autoworkers. What a disaster, isn’t it?’ he added. ‘Donald Trump has a different idea. He is going to drill, baby, drill. We’re going to unleash American workers and bring back those great factories.’

The senator also touched on the drama surrounding former President Trump’s scheduled debate with Vice President Harris after reports that the presidential nominees were clashing over debate rules ahead of the live Sep. 10 event.

‘He thinks it’s important that the American people see him debate and especially see Kamala Harris, because she’s run from the media for pretty much the entire campaign,’ Vance said in an exclusive interview with Fox News’ Aishah Hasnie at the Michigan event. ‘He also doesn’t like that they’re trying to change the rules at the very last minute, because they figured out that Kamala Harris, she’s just not that great at this.’

Vance also addressed the letter that Meta CEO Mark Zuckerberg sent to House Judiciary Committee Chairman Jim Jordan on Monday, revealing that he faced pressure from the Biden-Harris administration to censor Americans, particularly regarding COVID-19 content.

‘This should be bombshell news,’ Vance told Fox of the letter. ‘The leader of one of the most important social networks in the world just came out and said, I censored Donald Trump in the run-up to the election because there were certain elements within the Biden administration and the Biden campaign that encouraged me to do that. That is crazy. That is the revelation of censorship in a way that affected an American election.’

Fox News’ Aishah Hasnie contributed to this report.

This post appeared first on FOX NEWS
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Stock

An Investment Routine for Spotting Buy-The-Dip Opportunities

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Buying the dip is a something of go-to strategy for many traders and investors. The trick here is to buy strength on the way down and to avoid a “falling knife” scenario (or at least plan for it in case it does happen).

The catch: With so many stocks to choose from, it’s impossible to monitor every stock you’re interested in. You’re bound to miss something.

So, here’s a quick and simple morning routine to help you spot potential buy-the-dip opportunities when an index takes a significant hit.

Step 1: Monitor the Pulse of the Broader Market

Last Monday, the Dow ($INDU) was on its way to making a record high while the S&P 500 ($SPX) and Nasdaq Composite ($COMPQ) were falling. The Nasdaq was hit the hardest.

To dive deeper, you should check the Market Summary tool, which can be found in the StockCharts Member Tools section. Here’s a snapshot of what it looked like.

The Nasdaq Composite was down 0.85% at the time. It was a clear laggard, so I focused there to spot a few potential buy-the-dip picks. After looking at the broader market, it helps to narrow the search by then looking at the Sector Summary, also in the StockCharts Member Tools.

Step 2: Check Sector Performance

The Technology Select SPDR ETF, XLK, the StockCharts sector proxy, was the biggest underperformer of the bunch (see below).

Given the Nasdaq’s tech-heavy nature, this summary confirms what you might have already expected. So, you narrow down even more, looking at the Industry Summary (also in Member Tools) to see which industry group is underperforming in the sector.

Step 3: Check Industry Performance

While tech is the biggest laggard overall, not every industry within the sector is struggling. Right now, let’s focus on stronger stocks that are getting sold (see below).

Under the chart on the left, click the MarketCarpet icon (second from left) to pinpoint stocks that match your investment objective.

Step 4: Using the Market Carpet to Identify Tradable Stocks

Broadcom (AVGO) took the biggest hit on Monday (see below). Nvidia (NVDA) didn’t take as big a plunge, but with its AI applications, it’s practically the world’s most important stock right now. Let’s zero in on these two.

Take a look at a daily six-month chart of Broadcom (AVGO).

CHART 1. DAILY CHART OF BROADCOM. Note the dueling Fib templates between bulls and bears.Chart source: StockCharts.com. For educational purposes.

The longer-term uptrend is still holding strong (we’re not showing it here to focus on the recent price moves). Even with the dip since June, the StockChartsTechnical Rank (SCTR) score only slightly dropped below 90, which still signals technical bullishness.

The orange Fibonacci Retracement, drawn from the June high to the August low, is likely the template bears are eyeing. The 61.8% retracement at $163 would have signaled an opportunity for short sellers to enter or add to their position. But because the price pushed past that level, it likely caused some hesitation. Plus, momentum, as shown by the Chaikin Money Flow (CMF), favors the bulls.

Now, check out the blue Fibonacci Retracement drawn from the August low to high. Bulls jumped in at the 38.2% level ($157). However, AVGO could still drop between the 50% and 61.8% levels ($151 to $145) and remain bullish, marking an ideal entry point for those looking to go long.

From here, let’s shift to a daily nine-month chart of NVDA.

CHART 2. DAILY CHART OF NVIDIA. You can see the threshold levels determining both uptrend and downtrend.

With an SCTR line above 90, NVDA is technically bullish across multiple indicators and timeframes.  Despite the 200-, 100-, and 50-day simple moving averages (SMAs) in “full sail” position, NVDA’s price action is softening a bit.

Over the last eight sessions, NVDA’s price action has been hovering in tight consolidation mode. For NVDA’s uptrend to remain intact, it has to do two things:

Stay above the August swing low of $91 (you might also get a bounce at the $97.50 range as it coincides with March highs (resistance-turned-support). The blue dotted lines below the current price marks both of these levels.Break above the three consecutive resistance levels at roughly $130, $136, and $140 (see blue dotted lines above the current price).

Closing Thoughts

The goal here is to show you one of many morning routines to uncover market opportunities. In this case, we used StockCharts’ market, sector, and industry summary tools to find trades. It could have been other stocks, but the key takeaway is learning how to do it yourself.

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 personal and financial situation, or without consulting a financial professional.

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Economy

Trump indicted a second time in election subversion case brought by special counsel Jack Smith

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Special counsel Jack Smith has filed another indictment against former President Trump in the election interference case on Tuesday.

The new charges narrow the allegations against the Republican presidential nominee following a Supreme Court ruling that conferred broad immunity on former presidents. 

Sources familiar with the matter tell Fox News that discussions surrounding the superseding indictment will likely not speed things up, and it is unlikely it will go to trial before the November election. 

This is a breaking story. Check back for updates. 

This post appeared first on FOX NEWS
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Economy

Ex-Obama official predicts Harris will seek new Iran nuclear deal: ‘Has to be the goal’

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A Middle East policy expert who helped get the Iran nuclear deal signed into law is anticipating that Vice President Kamala Harris would seek a similar agreement with Tehran if she wins the White House.

‘The idea that the old nuclear deal can just be restarted, we’re past that. Iran’s progress on its nuclear program has exceeded the previous limitations… a firm, verifiable nuclear deal that corrals and runs the ability to accelerate the nuclear weapon, that has to be the goal,’ said Joel Rubin, a Democratic strategist and former Obama administration deputy assistant secretary of state for legislative affairs to the House.

‘The best way to do that is a nuclear agreement that’s firm and verified… Any realistic president would go for that. And that’s Kamala Harris, she’s a realistic president-to-be.’

The Joint Comprehensive Plan of Action (JCPOA), commonly known as the Iran nuclear deal, was signed in 2015 by Iran, members of the United Nations National Security Council, and the European Union. 

Republicans and some moderate Democrats opposed the agreement, arguing it was too weak to successfully restrain the Islamic regime’s nuclear aspirations. Iran hawks in the U.S. also argued the lifting of sanctions on Iran would only serve to embolden its anti-Western leaders.

President Trump pulled out of the agreement in 2018.

But former President Barack Obama’s allies have maintained it was a necessary compromise to limit the threat from Iran’s nuclear capabilities and a sure way to bring Tehran to the negotiating table.

‘There has to be a way to curb Iran’s nuclear ambitions. If they were to get a nuclear weapon, that would be a threat to the region and to the world, including, of course, the United States. But it is not going to be an easy way forward,’ Rubin said. 

Harris said during her short-lived 2020 presidential campaign that she would rejoin the Iran deal if elected president. 

While It’s unclear whether she’s retained that stance in her 2024 campaign platform, it could expose her to GOP-led accusations of emboldening Iran at a time when the country is already growing more aggressive toward the U.S. and its allies.

Iran’s supreme leader, Ayatollah Ali Khamenei, suggested on Tuesday that Tehran could rejoin talks on a nuclear agreement, according to The Associated Press. Khamenei said there was ‘no harm’ in interacting with an ‘enemy’ in ‘certain situations.’

A State Department spokesperson told RadioFreeEurope, however, that rejoining the agreement ‘is not on the table right now.’

Fox News Digital reached out to the Harris campaign for comment.

This post appeared first on FOX NEWS
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Economy

FLASHBACK: Top Harris campaign aide was key voice in WH push to remove COVID info from tech platforms

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A current top campaign adviser for VP Kamala Harris was deeply involved in pushing Facebook to suppress ‘misinformation’ in an effort to control the political narrative on COVID and other issues.

Meta CEO Mark Zuckerberg admitted in a letter on Monday while expressing regret that his company, Facebook, was pressured by the Biden-Harris administration to censor Americans, particularly regarding COVID-19 content, bringing to the forefront actions taken by Harris’ deputy campaign manager Rob Flaherty as part of that pressure campaign.

Flaherty, who previously served as the White House director of digital strategy, helped lead the campaign to target alleged ‘misinformation’ relating to the COVID-19 virus and its vaccinations, FOX Business previously reported.

Flaherty emailed Google team members in April 2021 to ‘connect […] about the work you’re doing to combat vaccine hesitancy, but also crack down on vaccine misinformation,’ according to the documents. 

Flaherty continued asking for trends surrounding vaccine misinformation on the website, while offering government assistance in the form of COVID experts at the White House to partner in product work with YouTube. 

Google, in an internal email, noted that after a subsequent meeting with Flaherty, the White House staffer ‘particularly dug in on our decision making for borderline content’ – which is content that doesn’t cross Community Guidelines but rather brushes up against it, according to YouTube. 

A week later, Google acknowledged that it sent the White House the total amount of videos removed for COVID vaccine misinformation, while discussing the government’s desire for even more data.

‘Really [Flaherty’s] interested in what we’re seeing that is NOT coming down,’ read an internal Google email between employees, seemingly referring to videos that had not yet been removed. 

According to internal company communications viewed by FOX Business and reported on in 2023, Flaherty asked Facebook if they could provide government agencies with special access to tools to target users in 2021. 

‘Since it’s a global pandemic, can we give agencies access to targeting parameters that they normally wouldn’t be able to?’ Flaherty asked.

The idea came up in a conversation about how to convince people worried about side effects around the COVID vaccine to take it.

On an April 5 call, a Facebook employee mentioned how if someone was worried about nosebleeds as a side effect of the vaccine, in an ideal world, they would direct them to information addressing that concern. Flaherty asked the Facebook team, ‘Are you able to provide resources?’ 

Another Facebook employee replied that doing something like showing them a targeted resource addressing their concern might trigger people. The Facebook employee said they ‘have to be careful in how we approach.’ 

Flaherty asked, ‘If people are having the conversation, is the presumption that we let people have it. Direct them to CDC. What then?’ 

A Facebook employee replied, ‘We all know people that have had the experience that think that FB is listening to them.’ 

The Facebook employee told Flaherty that something like an immediate generated message about nosebleeds might give users ‘the Big Brother feel’ but suggested they show the content on a delay to avoid setting off alarm bells among users. 

‘We should pay attention to those conversations, make sure that people see information, even if it’s not right then,’ the Facebook employee said. 

Flaherty was involved in a tense exchange with GOP Rep. Jim Jordan, of Ohio, during a hearing on Capitol Hill earlier this year when Flaherty claimed that Elon Musk did not face ‘any adverse government actions’ in response to changing the outlet’s censorship policies.

Fox News Digital reached out to the White House and the Harris-Walz campaign for comment but did not receive a response.

‘Ultimately, it was our decision whether or not to take content down, and we own our decisions, including COVID-19-related changes we made to our enforcement in the wake of this pressure,’ Zuckerberg wrote in his letter to the House Judiciary Committee this week. ‘I believe the government pressure was wrong, and I regret that we were not more outspoken about it.

Fox News Digital’s Hillary Vaughn and Chase Williams contributed to this report

This post appeared first on FOX NEWS
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Economy

COUNTDOWN: Harris has just 4 days left to make good on sit-down interview proclamation

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The clock is ticking for Vice President Kamala Harris to schedule the formal interview she and her team promised would happen before the end of the month.

After formally receiving the Democratic Party’s presidential nomination, Harris told reporters on the tarmac in Detroit earlier this month that she wanted to schedule her first formal interview as the party’s nominee before the end of August. Meanwhile, the exact date, time, place and media outlet that will be conducting the interview has remained a mystery, even as Harris’ self-imposed deadline quickly approaches.

With only four days left this month, questions about the interview have been prevalent inside the beltway. Some of those questions include who on the Harris campaign is making the final interview decision, what kind of message Harris will try to send and who will be the figurehead posing the questions to her.

Harris campaign staffers have reportedly been asking journalists who they think the vice president should talk to, according to Politico. The outlet indicated CBS’ Norah O’Donnell and NBC’s Lester Holt were among the frontrunners. There has also reportedly been internal disagreements over how Harris should approach the interview.

With less than a week remaining for Harris to get something on the calendar, some journalists have begun weighing in on the process.

‘I understood why Kamala Harris wasn’t doing interviews before – she was getting her policy proposals hammered out behind the scenes before the convention. But now there are no more excuses. She needs to do interviews, a lot of them. We’re picking a president here. It’s important,’ said political commentator Cenk Uygur, host of The Young Turks, which describes itself as ‘America’s largest online progressive news network.’

‘The fact that there is so much internal turmoil over doing A SINGLE INTERVIEW is itself deeply revealing,’ conservative columnist Marc Thiessen wrote Tuesday morning on X, formerly Twitter. ‘This is not a ‘big decision.’ It exposes their lack of confidence in her and is making something that should be routine into a high stakes event.’

While the pressure on Harris to do an interview is getting greater by the day, some of her supporters have urged her to continue dodging the media. Rick Wilson, former GOP strategist and co-founder of the anti-Trump Lincoln Project, said last week that Harris ‘has no f—ing necessity to do interviews right now.’

The same opinion was echoed by legendary Hollywood director Quentin Tarantino, who told talk show host Bill Maher last Sunday that ‘sometimes it’s just about f—ing winning.’

‘I’m going to vote for her f—ing anyway, no matter what she says in the stupid f—ing interview, so don’t f— s— up,’ Tarantino added.

Harris has been utilizing a lighter than normal schedule since the Democratic National Convention concluded last week, according to Politico, which reported Harris has been using the time to prepare for her upcoming Sept. 10 debate and map out her future media strategy.

Fox News Digital reached out to both the Harris and Trump campaigns for comment. The Harris campaign did not provide a response, but the Trump campaign directed Fox News Digital to a Tuesday press release it put out, which called out Harris for going 37 days without an interview.

‘Kamala is dodging the press for a reason,’ the press release stated. ‘She doesn’t want to talk about her radical agenda.’

This post appeared first on FOX NEWS
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Economy

US top general says tensions in Middle East have ‘somewhat’ eased amid new Iranian threats

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Concerns over an all-out war between Israel, Hezbollah and Iran have eased, according to comments made by U.S. Chairman of the Joint Chiefs of Staff Gen. Charles Q. Brown Jr. to Reuters on Monday, but statements issued by Jerusalem and Tehran suggest otherwise. 

Brown met with top Israeli officials in Tel Aviv to discuss ongoing security issues facing Jerusalem just one day after the Israel Defense Forces and Hezbollah exchanged fire on Sunday – during which hundreds of rockets and drones were fired by the terrorist group at northern Israeli military positions.

Jerusalem said it too had fired a series of strikes on Hezbollah strongholds after 100 warplanes took to the sky to preemptively hit thousands of rocket launchers reportedly positioned to fire upon Israel.

Despite the heavy fire that was exchanged, relatively few deaths were reported, with three Hezbollah militants and one Israeli soldier killed in the day’s events, which concluded by mid-morning Sunday. 

When asked if the threat of a large-scale war between Israel and Hezbollah – which is backed by Iran – had abated, Brown replied, ‘Somewhat, yes.’

Hezbollah Secretary-General Hassan Nasrallah said the Sunday operation was ordered in response to the killing of Hezbollah commander Fuad Shukr at the end of July, reported Al Jazeera. 

But the terror group and Iran have pledged retaliation for one other killing that also occurred late last month when Hamas leader Ismail Haniyeh was assassinated while visiting Tehran, though Israel has never claimed credit for the attack.

‘You had two things you knew were going to happen,’ Brown told reporters in detailing the two acts of revenge pledged by the Israeli adversaries. ‘One’s already happened. Now it depends on how the second is going to play out.’

‘How Iran responds will dictate how Israel responds, which will dictate whether there is going to be a broader conflict or not,’ Brown added. 

Brown’s cautious optimism that a broader conflict had so far been avoided remains at odds with how Israel and Iran are viewing the current tensions.

Iran’s chief of staff of the armed forces, Maj. Gen. Mohammad Bagheri, responded to the Sunday exchange of fire and warned that ‘revenge against the Israeli entity is inevitable’ following the death of Haniyeh. 

‘What we witnessed yesterday is only part of that revenge,’ he confirmed, according to a report by the Arab news outlet Al Mayadeen English. ‘[Iran] will decide how and when to take revenge and will not fall into the trap of media provocations initiated by the enemies.’

Israel’s Defense Minister Yoav Gallant on Monday also warned that ‘Iran’s aggression has reached an all-time high’ and said Israel and the U.S. must expand their joint defenses.

Gallant further emphasized the threat Iran poses in its continued pursuit of developing nuclear capabilities, adding that Jerusalem and Washington must work to stop Tehran’s military from gaining nuclear weapons. 

On Tuesday, Iran’s supreme leader, Ayatollah Ali Khamenei, said there were no ‘barriers’ in communicating with the ‘enemy,’ which some news outlets interpreted as a potential signal that Tehran may once again engage in nuclear talks with the West. 

‘We do not have to pin our hope to the enemy. For our plans, we should not wait for approval by the enemies,’ Khamenei said, according to The Associated Press. ‘It is not contradictory to engage the same enemy in some places, there’s no barrier.’

The AP report said this rhetoric echoed comments made in the lead-up to the 2015 deal made between Iran, the U.S. and other Western nations.

But Khamenei also warned that ‘the enemy’ could not be trusted. 

Talks with Iran over its nuclear development collapsed after the U.S. withdrew from the Joint Comprehensive Plan of Action (JCPOA) under the Trump administration in 2018 – a move Tehran has since claimed voided their commitments to the agreement.

The U.N. nuclear watchdog, the International Atomic Energy Agency (IAEA), said in June that Iran is not believed to possess nuclear weapon capabilities, though it has enriched uranium to levels just short of weapons-grade standards.

While any new deal with Iran appears unlikely, another ‘historic’ deal between the U.S. and a Middle Eastern nation, Saudi Arabia, may be on the horizon, Michael Ratney, the U.S. ambassador to Saudi Arabia, said Monday. 

‘While we came very close and are very close on very important elements of this agreement, it is important that we finalize all of it together, and with that we would have a history-making agreement between the U.S. and Saudi,’ he told Saudi news outlet Asharq Al-Awsat, according to a translation reported by Al Arabiya English.

Ratney said the agreement would encompass several issues like bolstering the strategic partnership between Washington and Riyadh, enhancing military agreements and strengthening economic ties.

But it also includes efforts to normalize ties between Saudi Arabia and Israel – a push first launched throughout the Middle East under the Trump administration’s Abraham Accords. 

Washington, under both the Trump and Biden administrations, has held the belief that improving Israel’s ties in the Middle East could better secure it from terrorist organizations as well as the Iranian regime – which is often at loggerheads with several Sunni nations. 

‘We are in a complicated region and there are a lot of complexities to the agreement itself, but we will do it as quickly as possible,’ Ratney reportedly said.

The U.S. ambassador said the Biden administration and Riyadh support the establishment of a two-state solution when it comes to stopping the Israeli-Palestinian conflict – though Israeli Prime Minister Benjamin Netanyahu has repeatedly made it clear he does not support Palestinian statehood. 

‘We fundamentally believe that Palestinian statehood needs to come through a political process, through negotiations between the parties, not through any other means,’ Ratney said. 

‘In the meantime, the deep priority is to stop the violence in Gaza, to stop the misery of the people of Gaza, to move forward with our efforts toward a cease-fire, to release Israeli hostages, and to end this conflict to find ways to deliver much-needed humanitarian assistance in Gaza,’ he added.

This post appeared first on FOX NEWS
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Economy

Trump adds RFK Jr., Tulsi Gabbard to his transition team as he recruits supporters ‘across partisan lines’

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Former President Trump has added former Democrats Robert F. Kennedy Jr. and Tulsi Gabbard to his transition team, broadening his coalition of supporters ‘across partisan lines.’ 

‘As President Trumps’s broad coalition of supporters and endorsers expands across partisan lines, we are proud that Robert F. Kennedy Jr. and Tulsi Gabbard have been added to the Trump/Vance Transition team,’ Trump campaign senior advisor Brian Hughes told Fox News Digital.

‘We look forward to having their powerful voices on the team as we work to restore America’s greatness,’ Hughes added. 

RFK Jr., who began the 2024 cycle running for president as a Democrat, then shifted to run as an Independent, suspended his campaign last week and endorsed former President Trump—a historic move for a member of the Democrat Kennedy family dynasty. 

Former Rep. Tulsi Gabbard also switched party affiliation, and considers herself an Independent. 

Gabbard, a veteran and the former Democratic representative for Hawaii’s 2nd congressional district, endorsed Trump this week. 

‘I am proud to stand here before you today, whether you’re a Democrat, a Republican or an Independent,’ Gabbard said. ‘If you love our country, as I do, if you cherish peace and freedom as we do, I invite you to join me in doing all that we can to save our country and elect President Donald J. Trump and send him back to the White House to do the tough work of saving our country and serving the people.’

Gabbard, who ran in the 2019 Democratic presidential primary against Kamala Harris, was recently recruited by Trump to help with debate prep ahead of his Sept. 10 face-off against the vice president at the National Constitutional Center in Philadelphia.

Meanwhile, RFK Jr. took to social media this week to give his own definition of ‘MAGA.’ 

”Make America Great Again’ recalls a nation brimming with vitality, with a can-do spirit, with hope and a belief in itself. It was an America that was beginning to confront its darker shadows, could acknowledge the injustice in its past and present, yet at the same time could celebrate its successes,’ Kennedy wrote.

‘It was a nation of broad prosperity, the world’s most vibrant middle class, and a [sic] idealistic belief (though not consistently applied) in freedom, justice, and democracy. It was a nation that led the world in innovation, productivity, and technology. And it was the healthiest country in the world. I have talked to many Trump supporters. I have talked with his inner circle. I have talked to the man himself. This is the America they want to restore.’

This post appeared first on FOX NEWS
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