Free Digital Markets
Archive

August 30, 2024

Browsing
Stock

Charting Forward: Opportunities You Can Seize in September

By

It’s a quiet end to August, with the broader stock market indexes wavering higher and lower. The Market Overview panel on the StockCharts Dashboard shows equity indexes closing higher. And yes, the Dow Jones Industrial Average ($INDU) closed at a record high.

FIGURE 1. MARKET OVERVIEW PANEL IN THE STOCKCHARTS DASHBOARD. All broader indexes were up on Friday.Image source: StockCharts.com. For educational purposes.

Stock Market Outlook

With August behind us, we now prepare for one of the worst months in the stock market. PCE data came out today, and it was pretty much in line with estimates. This means an interest rate cut in the next FOMC meeting is pretty likely. The Fed’s next meeting isn’t until September 18, and, given historical seasonality patterns, don’t expect too much upside in the first half of the month.

FIGURE 2. SEASONALITY CHART OF THE S&P 500 INDEX ($SPX). September is usually a weak month for large-cap stocks. Image source: StockCharts.com. For educational purposes.

The seasonality chart for the S&P 500 shows that August typically sees a 1% rise in the index. In 2024, the index’s performance was slightly higher, with a 2.28% rise. September looks dismal, but this is an election year, so things may turn out differently.

The S&P 500 has recovered from its August pullback, breaking a downtrend line (see chart below). Since then, the index has been trading sideways, refusing to reach its July 16 all-time high. Yet it’s trading above its 21-day exponential moving average, which is trending up.

FIGURE 3. DAILY CHART OF S&P 500 INDEX. The index is trading sideways, close to its all-time high. The Stochastic Oscillator indicates that momentum is slowing slightly.Chart source: StockCharts.com. For educational purposes.

The stochastic oscillator is displaying some slowdown in momentum, as the oscillator shows a slight decline amidst the relatively flat movement in the S&P 500.

More interesting is the S&P 500 Equal Weighted Index ($SPXEW), which hit all-time highs. The relative strength index (RSI) and moving average convergence/divergence (MACD) indicate there could be room to rally. This suggests that investors are rotating out of the mega-cap stocks and into smaller-cap ones.

FIGURE 4. WEEKLY CHART OF S&P 500 EQUAL-WEIGHTED INDEX. The index is at a new all-time high. The RSI and MACD indicate there’s room for more upside move.Chart source: StockCharts.com. For educational purposes.

This begs the question of how mid-cap stocks perform. The daily chart of the S&P 500 Mid Cap Index ($MID) shows that mid-caps are trading sideways, but the index is close to its all-time highs, which happen to be close to the upper end of the trading range.

FIGURE 5. S&P 500 MID-CAP INDEX ($MID). The index is trading sideways but is trading close to the top of the range. Market breadth is also expanding, favoring bulls.Chart source: StockCharts.com. For educational purposes.

Market breadth in the mid-caps looks to be broadening, with 73.25% of mid-cap stocks trading above their 50-day simple moving average. The advancers also outnumber the decliners.

You’ll likely find a similar situation with the S&P 600 Small Cap Index ($SML).

Stockchart Tip!

Click the above chart of $MID and change the symbol to $SML. Voila! You’ll get an updated chart specific to $SML.

So, which stocks in the mid and small-cap asset class should you focus on? This is when it helps to revert to the seasonality chart. Going through all the sector ETFs, Energy, and Utilities tend to be the leaders in September. Out of the two, the chart of Utilities Select Sector SPDR (XLU) shows a well-defined trend.

CHART 6. DAILY CHART OF XLU. Utilities have been in a sharp uptrend. The RSI and MACD indicate there’s room for more upside. Chart source: StockCharts.com. For educational purposes.

All moving averages overlaid on the chart are trending higher. The RSI and MACD also support the upward trend.

Closing Bell

So, while large-caps typically decline in September, it makes sense to consider investing a portion of your portfolio in mid and small-cap utility and energy stocks.

On Your Dashboard, click the Sector Summary link (bottom right of Sector Summary panel).Select One Month from the Period dropdown menu.Click Utilities Sector Fund in the Name column.Click the name of the top-performing Industry within the sector.Sort the columns by Universe (U column) by clicking the up and down arrows to the right of U.Scroll down to the mid-cap stocks and analyze away.

Enjoy your Labor Day weekend, and be ready for market action to resume on Tuesday.

End-of-Week Wrap-Up

S&P 500 closed up 0.24% for the week, at 5648.40, Dow Jones Industrial Average up 0.94% for the week at 41,563.08; Nasdaq Composite closed down 0.92% for the week at 17713.62$VIX down 5.42% for the week closing at 15Best performing sector for the week: FinancialsWorst performing sector for the week: TechnologyTop 5 Large Cap SCTR stocks: Insmed Inc. (INSM); FTAI Aviation Ltd. (FTAI); Carvana Co. (CVNA); SharkNinja, Inc. (SN); Tenet Healthcare Corp. (THC)

On the Radar Next Week

Aug ISM Manufacturing PMIAug S&P Global Services PMIAug ISM Services PMIAug Non Farm PayrollsFed Beige Book

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

Keep Reading
By
Stock

NVDA is Not the Only Semiconductor Stock Out There

By

It’s All Still Relative

The weekly Relative Rotation Graph, as it looks toward the close of this Friday (8/30) shows a clear picture — out of Technology, into everything else.

Simple enough, right? However, this is a relative comparison, so it only tells us whether a sector is in a relative up- or downtrend or whether its relative trend is improving or weakening. This means that when SPY starts to move lower, these sectors will likely outperform SPY, but their prices will still go down.

When just looking at the JdK RS-Ratio value as a gauge, there are only two sectors on the right-hand side of the graph with a reading above 100. These are Real Estate and Utilities. All other sectors are below 100 on the RS-Ratio scale and, therefore, technically still in a relative downtrend vs. SPY.

However, except for XLK, all these other sectors are on a positive RRG-Heading, between 0 and 90 degrees, which is a positive takeaway. There is still a risk that these tails may roll over while still inside the improving quadrant and continue their relative downtrend, but XLV, XLF, and XLP are looking especially strong, as they are getting close to crossing over into the leading quadrant.

XLY, XLI, XLB, and XLE are still too low on the RS-Ratio scale for consideration, imho.

SPY is Hitting Resistance

SPY pushing against resistance is creating an interesting situation. 565 is clearly a very important overhead resistance level for SPY. Only when this barrier can be convincingly broken will there be new upside potential for SPY to continue the longer-term uptrend. However, it is questionable whether SPY can break that barrier without the help of the technology sector. At the end of the day, that is now more than 30% of the total market capitalization of the S&P 500.

Over the last few weeks, SPY started to trade in a range between 555 and 565. When 555 gives way to the downside, significant downside risk will be unlocked, targeting the recent gap area between 545-548, followed by intermediate support around 537.5-540 and then 510, which is the level of the last major low.

Given the importance of the tech sectors in the current environment, I see the risk of a break below 555 as greater than the potential of a break above 565.

Semis / Tech Are Key

So, the tech sector, and especially the group semiconductors, will play an important role in the coming weeks to determine the faith direction of the general market.

This RRG shows the members of the Technology sector. The big elephant NVDA is clearly visible inside the weakening quadrant and rotating toward the lagging quadrant at a negative RRG-Heading.

The semiconductors and semiconductor equipment group is now the largest industry inside the technology sector, weighing more than 40%. NVDA itself is now the second-largest stock in the technology sector, with a weight of 20%. So when it moves, it moves, making the industry and the sector move.

NVDA is BIG, But Not the Only Semiconductor Stock

When I isolate the semiconductor stocks on the RRG, we see this image:

Most of these stocks are moving in the same direction as NVDA, on a negative RRG-Heading, weighing in on the industry and then on the sector. However, this is an extremely important group of stocks that deserves at least a minimal allocation in each portfolio “just in case it all turns around and starts to go up again.” From that perspective, it makes sense to look for alternatives as long as NVDA is rotating on a negative heading, digesting its recent gains and relative outperformance.

Searching for stocks on a positive RRG-Heading provides a few potentials.

Combining the positions on the RRG and looking at the individual charts. MPWR and TXN could be interesting alternatives if NVDA maintains its negative RRG-Heading.

#StayAlert and have a great weekend. –Julius

Keep Reading
By
Stock

New Highs, But Danger Looms—Is XLF Heading for a Big Fall?

By

Financial sector stocks are at an all-time high, fueled partly by earnings beats, a favorable and higher interest rate environment, and sector sentiment. Investors are seeing value buying opportunities in many beaten-down financial stocks. Should you follow their lead?

According to Fed Chief Powell’s latest remarks, rate cuts are on the horizon. Lower interest rates can cut both ways, narrowing net interest margins and pressuring bank earnings while boosting the broader market and lifting stocks, including financials.

When navigating such fundamental uncertainty, it helps to step back and consider the broader patterns at play. Consider seasonal trends and how technical price action might inform your short-term strategy. Let’s start with seasonality.

5-Year Seasonality Chart of XLF

The StockCharts seasonality chart can help you identify how XLF performs each month and the average price change (see below).

CHART 1. FIVE-YEAR SEASONALITY PROFILE FOR XLF. Note September’s negative performance.Chart source: StockCharts.com. For educational purposes.

The numbers above the bar signify the percentage of higher closes. The numbers at the bottom of each bar signify the average % return for the time period being analyzed — in this case, five years.

Key points from the XLF seasonality chart are as follows:

September is the worst month for XLF, averaging zero higher closes over the last five years with a return of -4%.October, November, and December make up XLF’s strongest quarter with a higher-close rate of 50% and 75% and an average return of 4%, 7.2%, and 2.4%, respectively.

That’s the seasonality profile over the last five years, and the recent economic environment weighs in heavily on the data. But what happens if you zoom out to 10 years, which includes economic activity before the pandemic and inflationary pressures that shaped the last five years?

10-Year Seasonality Chart of XLF

CHART 2. 10-YEAR SEASONALITY PROFILE FOR XLF. September’s still a doozy.Chart source: StockCharts.com. For educational purposes.

Accounting for the sector activity before the economic challenges that came about during and after the pandemic, you can see that September is still an awful (though not the worst) month for XLF, raking in an average return of -1.6% with a higher-close rate of only 22%.

Like the five-year profile, October through December still comprises the strongest quarter, with November standing out as the strongest month with an 89% higher close rate and an average return of 6.2%.

Looking at these seasonality profiles, should you anticipate September’s weakness as a potential bullish setup for a strong fourth quarter?

Financials—A Sector Breadth Perspective

It helps to analyze the financial sector in terms of breadth and assess how many financial stocks within the ETF are participating in the uptrend versus those that aren’t. Below is a chart of the S&P Financial Sector Bullish Percent Index ($BPFINA) and XLF.

CHART 3. S&P FINANCIAL SECTOR BULLISH PERCENT INDEX. This indicator is entering oversold territory but can remain above 70 for an extended period if XLF continues trending higher.Chart source: StockCharts.com. For educational purposes.

StockCharts Tip!

To recreate the chart, click on the above chart or follow these steps.

Enter the symbol, in this case $BPFINA, in the symbol box. Select your preferred chart settings, such as chart style, time frame, log scale, etc. Enter horizontal line overlays using different parameters, i.e., 70, 50, and 30. Under Indicators, select Price from the dropdown menu, enter XLF in the parameters box, and position it above, below, or behind the BPI.

As XLF continues to trend higher (see price chart above the BPI chart), the financial sector as a whole is also entering overbought territory, according to the Bullish Percent Index (BPI).

Generally, a BPI line above 50% favors the bulls, while below 50% favors the bears. However…

A rise from below 30% (oversold) indicates potential bullishness.A decline from above 70% (overbought) suggests bearishness.

If the seasonality trend plays out, what might you anticipate in the weeks ahead? Let’s shift to the daily chart of XLF.

A Closer Look at XLF’s Daily Price Action

CHART 4. DAILY CHART OF XLF. No signs of stopping, yet note the divergence in CMF momentum.Chart source: StockCharts.com. For educational purposes.

In a nutshell:

XLF shows no sign of slowing, yet the near-term surge is going parabolic.The Chaikin Money Flow (CMF) shows that buying pressure is picking up, but note the divergence between it and the price trend, suggesting that momentum may or may not be sufficient to fuel a continued rise.Price is hugging and nearing the top of the Bollinger Bands; price tends to revert back toward the middle, which, coincidentally, will likely meet the “kumo” level of the Ichimoku Cloud indicator.

In short, it’s a wait-and-see moment. XLF’s entry into overbought territory, coupled with declining momentum, aligns with the seasonal tendency for September’s weakness. If a dip occurs and the fundamentals remain stable, a pullback toward the middle Bollinger Band or the “cloud” could present a strong buying opportunity.

Closing Bell

XLF is riding high (like, very high), but with September’s seasonal weakness and its low-momentum entry into overbought territory, it’s important to remain cautious. Keep an eye on how financial stocks perform in the coming weeks. If the anticipated dip happens and fundamentals stay solid, this could be your chance to buy in before the expected Q4 strength kicks in.

Be sure to save XLF in one of your StockCharts ChartLists.

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

Keep Reading
By
Economy

Harris lacked confidence, presidential demeanor in first TV interview: body language expert

By

A body language expert who analyzed Vice President Kamala Harris’ first interview with the media since becoming the Democratic presidential nominee tells Fox News Digital that she believes Harris was ‘not confident in what she’s saying’ and lacked a presidential demeanor. 

The vice president sat down alongside running mate Minnesota Gov. Tim Walz on Thursday night for a CNN interview after largely avoiding the press since ascending to the top of the Democratic ticket, yet she appeared to frequently look down while responding to questions.

‘When I look at her overall demeanor, she does not carry the confidence or the presidential appearance in her demeanor to command in her position,’ body language expert Susan Constantine told Fox News Digital. ‘So for everything that I saw last night, she definitely needs to make some tweaks into her body language to appear more confident.’ 

‘The fact that she’s looking down a lot removes a lot of the fluidity and the authenticity,’ she added. 

Near the beginning of the interview, Harris was asked twice about her ‘day one’ agenda but gave overarching answers instead of responding with a specific executive order or directive.  

‘When she struggles, you start to see a lot of the head bobbling. You know, the head bobbling is ‘what part of the file in my subconscious am I going to pull out? Which ones are my answers?’’ Constantine said about Harris. ‘She couldn’t come up with a crystal clear answer, and that’s why she tends to bobble.’

‘When you bobble and waffle like that,’ she continued, ‘that’s another signal that she’s not really… prepared. She doesn’t really have confidence in her own answers.’ 

‘When you’re breaking gaze, that is a form of deflection,’ Constantine also said. ‘So when you’re removing an eye gaze, not making good eye contact, it’s just showing me that she’s not confident in what she’s saying.’ 

Harris sat next to Walz during the interview in Savannah, Georgia, and Constantine said Harris was ‘consistently looking for acknowledgment’ during the event. 

‘She is looking for that signal from Walz to see if he’s on board. Many times when we see him, he’s got the pressed lips — that tends to be a more serious, more collected, expression in his mouth,’ she said. 

The Harris campaign did not immediately respond to a request for comment from Fox News Digital about Harris’ performance in the interview. 

‘Overall, you know, as one woman to another, I would say if you’re going to be a woman in power, you have to look like a woman in power,’ Constantine said. ‘And she doesn’t at this time.’ 

Fox News’ Emmett Jones, Emma Colton and Matteo Cina contributed to this report. 

This post appeared first on FOX NEWS
Keep Reading
By
Economy

Harris says no regrets about defending Biden fitness for office

By

Vice President Kamala Harris is standing by her previous comments defending President Joe Biden’s mental acuity — even now as she’s running to replace him.

The vice president and 2024 Democratic presidential candidate was asked by CNN whether she has any regrets about defending Biden’s mental acuity amid a firestorm of skepticism following the first presidential debate.

‘No, not at all,’ Harris told CNN reporter Dana Bash.

Harris rose to the top of the ticket after Biden dropped out of the race last month following his disastrous debate performance against former President Donald Trump in June. 

The debate, which included Biden repeatedly tripping over his words and losing his train of thought, opened the floodgates to traditional Democratic allies of the president joining conservatives in sounding the alarm over Biden’s mental acuity and age. 

The vice president publicly supported Biden throughout the media circus and secured his endorsement just minutes after his own campaign came to close.

Harris dodged the question of whether Biden initially endorsed her to run in his place when he called to announce his withdrawal from the election amid mounting concern over his mental faculties. 

‘What about the endorsement? Did you ask for it?’ Bash asked Harris. 

‘He was very clear that he was gonna support me,’ Harris responded. 

‘So, when he called to tell you, he said, ‘I’m pulling out of the race, and I’m gonna support you?,’’ Bash pressed Harris. 

‘Well, my first thought was not about me, to be honest with you. My first thought was about him, to be honest. I think history is gonna show a number of things about Joe Biden’s presidency. I think history is gonna show that in so many ways, it was transformative, be it on what we have accomplished around finally investing in America’s infrastructure, investing in new economics, in new industries, what we have done to bring our allies back together, and have confidence in who we are as America, and grow that alliance, what we have done to stand true to our principles including the — the — one of the most important international rules and norms, which is the importance of sovereignty and territorial integrity,’ she said. 

The highly anticipated sit-down marked the first interview Harris has held in 39 days, since she became the presumptive nominee. She was joined by her running mate, Minnesota Gov. Tim Walz, for the pre-taped CNN interview that aired Thursday evening. 

Harris has largely avoided the media since ascending the Democratic ticket, only rarely answering media questions while on the campaign trail and holding no press conferences. 

Biden has spent the majority of the last two weeks on vacation at beach properties in California and Delaware.

Fox News’ Emma Colton and Matteo Cina contributed to this report.

This post appeared first on FOX NEWS
Keep Reading
By
Stock

MarketCarpet Report: Stock Market Remains Resilient With Dow Notching a Record Close

By

The thin trading ahead of Labor Day weekend is here. Despite that, on Thursday, the Dow Jones Industrial Average ($INDU) notched a record-high close. The S&P 500 ($SPX) was flat, and the Nasdaq Composite ($COMPQ) closed slightly lower.

Both indexes traded higher for most of the trading day, but it seemed that traders sold off on the rally in the afternoon and packed off early to take advantage of the last long summer weekend. Nvidia’s earnings are out, and all that’s remaining is Friday’s PCE Index. Since the Fed has already indicated that rate cuts are on the board, maybe the PCE isn’t such a big deal. Expect a slow day on Friday.

A Closer Look at Stock Market Action

It was an unusual day in the stock market. Since the Dow Jones Industrial Average closed at a record high, the Industrial sector did well. But Tech stocks, for the most part, didn’t fare as poorly as you may have expected. Apple (AAPL) was up 1.46% and Microsoft (MSFT) closed higher by 0.61%. But Nvidia’s 6.38% loss was the one that dragged down the Tech sector, putting it in last place in sector performance (see below).

FIGURE 1. STOCKCHARTS MARKETCARPET FOR AUGUST 29. Energy, Financials, and Utilities take the lead.

The good news is the Financial sector continues to hold up, with PayPal (PYPL) leading in performance with a 3.88% gain. Visa (V) and Mastercard (MA) saw gains of 1.91%. The underperformer was T Rowe Price (TROW) with a 2.37% decline.

Thursday’s top-performing sector was Energy, with Exxon Mobil (XOM) and Chevron (CVX), the two largest stocks in the sector by market cap, trading higher. XOM was up 1.38%, and CVX was up 0.97%.

The rise in crude oil prices may have been the catalyst that helped the Energy sector. The Market Overview panel in the StockCharts Dashboard shows that, except for copper, commodity prices rose. Oil, Natural Gas, and Gasoline prices rose well over 1%.

Going back to Thursday’s MarketCarpet, even though NVDA closed lower by over 6%, other chip stocks did well. This reflects that the AI boom is still in play. Overall, the stock market remains healthy, with expanding market breadth and low volatility. The stock market will see higher trading volume from next week. In the meantime, follow the broader indexes, start building ChartLists of the different sectors, and download a few of the StockCharts free ChartPacks.

StockCharts Tip.

ChartPacks are a great way to get started with building ChartLists and exploring what Technical Analyst experts typically view before, during, and after market hours.

At the Close

A quick glance at Your Dashboard daily will keep you engaged with the stock market. Follow the market action in the broader equity indexes, bonds, commodities, and cryptocurrencies. From the Sector Summary, identify which sectors are performing well and which aren’t. The SCTR Reports and Market Movers can help you identify the strongest and weakest stocks.

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

Keep Reading
By
Economy

What kind of justices would President Kamala Harris appoint?

By

One of the most consequential responsibilities that a president possesses is the appointment of Supreme Court justices. These lifetime appointees impact our lives in countless ways. 

And with the bloodless coup orchestrated by the Democrats to force Vice President Kamala Harris down the throats of Democrat voters, it’s important to ask a direct question. What kind of justices would a President Harris appoint?

A good starting point to answer that question involves looking at jurists selected by President Biden. For the most part, his appointees are nothing more than hardcore leftists. At the head of the class is Justice Ketanji Brown Jackson who, in her two years on the court, staked out a position as a rock-solid member of the leftist bloc, along with Justices Sonia Sotomayor and Elena Kagan.

Three of the conservative justices – Chief Justice John Roberts and Justices Clarence Thomas and Samuel Alito – will be well into their 70s should a President Harris assume office next January. It is conceivable that she could replace these three right-of-center justices with three justices in the mold of Justice Jackson, transforming the court from a 6-3 conservative one to a 6-3 leftist one.

A President Harris would have a far more ambitious Supreme Court agenda than simply replacing justices who have retired. She just announced support for term limits on the court, suggesting she would try to force Alito, Thomas and Roberts to retire. She also indicated her openness to packing the court, adding new seats to the nine that exist. 

The last time a president attempted this maneuver occurred during the 1930s, when President Franklin Roosevelt, displeased by the court’s rulings against his New Deal agenda, proposed adding a half dozen new justices. 

The Senate, then ruled by an overwhelming supermajority of Roosevelt’s own Democratic Party, was so repulsed by this naked power grab that the Judiciary Committee referred to the ploy as, ‘a measure which should be so emphatically rejected that its parallel will never again be presented to the free representatives of the free people of America.’

Seemingly unburdened by what has been, Harris hired Brian Fallon as her campaign communications director. In 2018, Fallon founded Demand Justice, a group that supports the appointment of leftist judges. 

After Justice Anthony Kennedy announced his retirement that June, Demand Justice first resurrected the idea of packing the Supreme Court, an idea once thought long-dead. Since then, the group grew more determined to achieve this goal. Under Fallon’s influence, it’s reasonable to assume that a President Harris would implement Demand Justice’s desire.

Suppose a President Harris adds four new seats to the Supreme Court, to attempt to create a 7-6 liberal majority court. Who would she select? Well, Fallon already put together an absurd shortlist during his time running Demand Justice. 

Among Fallon’s suggested candidates are people like Philadelphia District Attorney Larry Krasner, a Soros-funded prosecutor who transformed Philadelphia into a crime-infested drug haven; Assistant Attorney General Kristen Clarke, who aggressively prosecuted grandmothers praying in front of abortion clinics and who perjured herself during her confirmation hearings; Catherine Lhamon, an assistant secretary at the Department of Education, who is the architect of the due process-free civil rights tribunals on college campuses; and Pamela Karlan, the left-wing Stanford Law professor who publicly mocked Barron Trump. 

Under this scenario, a President Harris would not even need to worry about replacing Roberts, Thomas and Alito. She could simply add enough new justices to the court to make them irrelevant.

It is clear what the Supreme Court would become under a President Harris. Over a decade ago, the court held that we have an individual right to bear arms. A Harris-packed court almost certainly would overturn this decision and greenlight Harris’ proposal for a mandatory gun buyback program. This, among many other likely decisions to come out of the Kamala court, would sow disastrous consequences for America. 

Make no mistake about it. The Supreme Court – and our most basic constitutionally guaranteed freedoms – are at stake in this election.

This post appeared first on FOX NEWS
Keep Reading
By
Economy

Trump campaign slams Harris as ‘still a San Francisco radical’ after CNN interview

By

The Trump-Vance campaign released a statement Thursday night following Vice President Kamala Harris’ first media interview since becoming the Democratic nominee for president, calling her a ‘San Francisco radical’ and highlighting aspects of her record that were not discussed in the interview. 

‘[Harris] said her values ‘have not changed’ three separate times. She’s still a San Francisco radical,’ the campaign said. 

Among other things, the Trump-Vance campaign said that CNN’s Dana Bash did not bring up Harris’ history of supporting ‘ending cash bail for violent criminals, fundraising for the Minnesota Freedom Fund, which freed rioters,’ her ‘vote for tie-breaking vote for American Rescue Plan, which economists say fueled inflation,’ and her ‘support for closing immigration detention centers and freeing thousands of criminals into American neighborhoods.’

‘[Harris] spoke for just over 16 minutes and didn’t even address the crime crisis in this nation. She spent a mere 3 minutes and 25 seconds talking about the economy and 2 minutes and 36 seconds talking about immigration,’ the statement said. 

During her interview, Harris said she believes Americans are ready to ‘turn the page’ on former President Donald Trump.

She also defended her work as the appointed border czar for the Biden administration and that her work ‘resulted in a number of benefits.’

‘The root causes work that I did as vice president that I was asked to do by the president has actually resulted in a number of benefits, including historic investments by American businesses in that region, the number of immigrants coming from that region has actually reduced since we began that work,’ she said. 

‘When I look at the aspirations, the goals, the ambitions of the American people, I think that people are ready for a new way forward, in a way that generations of Americans have been fueled by, by hope and by optimism. I think, sadly, in the last decade, we have had in the former president, someone who has really been pushing an agenda, and in an environment that is about diminishing the character and the strength of who we are as Americans — really dividing our nation. And I think people are ready to turn the page on that,’ Harris said. 

This was in response to what she would accomplish on day one of a Harris presidency, which Bash later had to press for more detail. 

Harris’ most detailed plans revealed in the Thursday night interview included a $6,000 child tax credit – similar to what the Trump-Vance campaign earlier had announced as a policy plan –  and a $25,000 tax credit for first-time homeowners. 

This post appeared first on FOX NEWS
Keep Reading
By
Economy

Top 5 moments from Kamala Harris’ first interview as Dem nominee: ‘I will not ban fracking’

By

Vice President Kamala Harris sat down for her first interview with the media since rising to the top of the 2024 Democratic presidential ticket, shedding light on President Biden’s call announcing he was dropping out of the race, as well as defending her recent policy flip-flops.

Harris rose to the top of the ticket after Biden dropped out of the race last month following his disastrous debate performance against former President Donald Trump in June. The debate, which included Biden tripping over his words and losing his train of thought, opened the floodgates to traditional Democratic allies of the president joining conservatives in sounding the alarm over Biden’s mental acuity and 81 years of age. 

The highly anticipated sit-down marks the first interview Harris has held in 39 days, when she became the presumptive nominee. Harris has largely avoided the media since ascending the Democratic ticket, only rarely answering media questions while on the campaign trail and holding no press conferences. 

Harris was joined by her running mate, Minnesota Gov. Tim Walz, for the pre-taped CNN interview that aired Thursday evening. 

Following Harris’ first sit-down interview with the media since ascending the ticket, Fox News Digital compiled the top five moments from the Savannah, Georgia, interview as the election cycle comes down to its final months. 

Harris fumbles ‘day one’ question 

Harris was asked twice about her ‘day one’ agenda, but gave overarching answers instead of responding with a specific executive order or directive. 

‘The voters are really eager to hear what your plans are. If you are elected, what would you do on day one in the White House?’ Bash asked Harris. 

‘Well, there are a number of things. I will tell you first and foremost one of my highest priorities is to do what we can to support and strengthen the middle class. When I look at the aspirations, the goals, the ambitions of the American people, I think that people are ready for a new way forward in a way that generations of Americans have been fueled by — by hope and by optimism.,’ Harris responded. 

‘I think sadly in the last decade, we have had in the former president someone who has really been pushing an agenda and an environment that is about diminishing the character and the strength of who we are as Americans — really dividing our nation. And I think people are ready to turn the page on that.

‘So what would you do? Day one?’ Bash pressed. 

‘Day one, it’s gonna be about one, implementing my plan for what I call an opportunity economy. I’ve already laid out a number of proposals in that regard, which include what we’re gonna do to bring down the cost of everyday goods, what we’re gonna do to invest in America’s small businesses, what we’re gonna do to invest in families,’ Harris said. 

‘For example, extending the child tax credit to $6,000 for families for the first year of their child’s life to help them buy a car seat, to help them buy baby clothes, a crib. There’s the work that we’re gonna do that is about investing in the American family around affordable housing, a big issue in our country right now. So there are a number of things on day one.’

Harris says she made position clear on allowing fracking in 2020 — except it wasn’t hers

Harris doubled down in the interview that she would not ban fracking if elected, claiming she made ‘clear’ where she stood on fracking during the 2020 election. 

‘No, and I made that clear on the debate stage in 2020 that I would not ban fracking. As vice president, I did not ban fracking. As president, I will not ban fracking,’ Harris said. 

Before Harris dropped her bid for president in 2019 and joined President Biden’s ticket, she said during a CNN town hall ‘there’s no question I’m in favor of banning fracking’ on her first day in office. 

Harris was asked about fracking during her 2020 vice presidential debate against then-Vice President Mike Pence but did not reveal her position on fracking, instead saying Biden would not ban fracking. Fox News Digital reviewed a transcript of the 2020 vice presidential debate and found ‘fracking’ was mentioned nine times, with Harris using the word twice. 

‘Joe Biden will not end fracking. He has been very clear about that,’ Harris said during the debate in 2020 cycle. 

‘I will repeat, and the American people know that Joe Biden will not ban fracking. That is a fact. That is a fact,’ she added during another portion of the debate. 

Walz cites ‘grammar’ for false claim on guns he ‘carried in war’

Gov. Walz attempted to blame his grammar when asked about his prior comments that he wants to ban guns like the ones he ‘carried in war,’ even though he never saw combat during his time in the Army National Guard. 

‘The country is just starting to get to know you,’ Bash noted before asking him about his 2018 remarks. ‘I want to ask you a question about how you described your service in the National Guard. You said that you carried weapons in war, but you have never deployed, actually, in a war zone. A campaign official said that you misspoke. Did you?’

Walz responded: ‘Well, first of all, I’m incredibly proud. I’ve done 24 years of wearing the uniform of this country. Equally proud of my service in a public school classroom, whether it’s Congress or — or the governor. My record speaks for itself, but I think people are coming to get to know me. I — I speak like they do. I speak candidly. I wear my emotions on my sleeves, and I speak especially passionately about — about our children being shot in schools and around — around guns.’ 

Bash again asked if he misspoke, sparking Walz to admit he did while citing his ‘grammar.’ 

‘Yeah, I said — we were talking about in this case, this was after a school shooting, the ideas of carrying these weapons of war. And my wifem the English teacher, told me my grammar’s not always correct. But again, if it’s not this, it’s an attack on my children for showing love for me, or it’s an attack on my dog. I’m not gonna do that, and the one thing I’ll never do is I’ll never demean another member’s service in any way. I never have and I never will,’ he responded.

Harris dodges whether Biden endorsed her in phone call he was dropping out 

Harris dodged answering whether Biden endorsed her to run in his place when he first called and informed her he was bowing out of the election amid mounting concern over his mental acuity. 

‘What about the endorsement? Did you ask for it?’ Bash asked Harris. 

‘He was very clear that he was gonna support me,’ Harris responded. 

‘So when he called to tell you, he said, ‘I’m pulling out of the race, and I’m gonna support you?,’’ Bash pressed Harris. 

‘Well, my first thought was not about me to be honest with you. My first thought was about him, to be honest. I think history is gonna show a number of things about Joe Biden’s presidency. I think history is gonna show that in so many ways it was transformative, be it on what we have accomplished around finally investing in America’s infrastructure, investing in new economics, in new industries, what we have done to bring our allies back together, and have confidence in who we are as America, and grow that alliance, what we have done to stand true to our principles including the — the — one of the most important international rules and norms, which is the importance of sovereignty and territorial integrity,’ she said. 

Biden did endorse Harris just minutes after dropping out of the race in a message on X. 

‘My very first decision as the party nominee in 2020 was to pick Kamala Harris as my Vice President. And it’s been the best decision I’ve made. Today I want to offer my full support and endorsement for Kamala to be the nominee of our party this year. Democrats — it’s time to come together and beat Trump. Let’s do this,’ he wrote. 

Harris would appoint a Republican to the cabinet if elected 

Harris said that she would appoint a Republican to her cabinet if elected, which follows a tradition of presidents bringing on or retaining politicians from across the aisle until recent history. 

‘You had a lot of Republican speakers at the convention. Will you appoint a Republican to your cabinet?’ Bash asked. 

‘Yes, I would.,’ Harris responded, noting she does not have a specific person in mind. 

Before the respective Trump and Biden administrations, presidents have historically appointed politicians from the opposite party to their cabinet or kept on politicians from a previous president of the opposite party. 

Transportation Secretary under the Bush administration, Norm Mineta, for example, was a Democrat, while President Bill Clinton’s Secretary of Defense was Republican William Cohen, and former President Obama retained Bush’s Republican Secretary of Defense, Robert Gates. 

This post appeared first on FOX NEWS
Keep Reading
By
Economy

Kamala Harris offers vague ‘Day 1’ Oval Office plan in CNN interview: ‘A number of things’

By

Vice President Kamala Harris, in her first media interview since taking over the top of the Democratic ticket roughly 40 days ago, said she had ‘a number of things’ in mind for day one priorities should she take the Oval Office but didn’t divulge much in the way of specifics. 

She did say she believes Americans are ready to ‘turn the page’ on former President Donald Trump.

‘The voters are really eager to hear what your plans are. If you are elected, what would you do on day one in the White House,’ CNN’s Dana Bash asked Harris, who was flanked by her running mate, Minnesota Gov. Tim Walz. 

‘Well, there are a number of things I will tell you. First and foremost, one of my highest priorities is to do what we can to support and strengthen the middle class,’ Harris said. 

‘When I look at the aspirations, the goals, the ambitions of the American people, I think that people are ready for a new way forward, in a way that generations of Americans have been fueled by, by hope and by optimism. I think, sadly, in the last decade, we have had in the former president, someone who has really been pushing an agenda, and in an environment that is about diminishing the character and the strength of who we are as Americans — really dividing our nation. And I think people are ready to turn the page on that,’ Harris replied. 

‘So, what would you do? Day one?’ Bash pressed. To which Harris said, its going to be about one implementing my plan for what I call an opportunity economy.’

‘I’ve already laid out a number of proposals in that regard, which include what we’re going to do to bring down the cost of everyday goods, what we’re going to do to invest in America’s small businesses, what we’re going to do to invest in families,’ Harris said. 

‘For example, extending the child tax credit to $6,000 for families for the first year of their child’s life, to help them buy a car seat, to help them buy baby clothes, a crib,’ she said. 

Notably, extending the child tax credit, though it differs slightly, was first a policy announcement by the Trump campaign. 

‘There’s the work that we’re going to do that is about investing in the American family around affordable housing, a big issue in our country right now. So there are a number of things on day one,’ Harris stated. 

Later in the roughly 26-minute, pre-taped interview, Harris said one of her proposals included a tax credit of $25,000 for first-time home buyers. 

‘What we need to do to bring down the cost of housing. My proposal includes what would be a tax credit of $25,000 for first-time home buyers, so they can just have enough to put a down payment on a home, which is part of the American dream and their aspiration. But do it in a way that allows them to actually get on the path to achieving that goal and that dream,’ she said. 

Walz, for his part, said he is ‘excited’ about Harris’ agenda. 

‘As I said, the idea of inspiring America to what can be and I think many of these things that the vice president’s proposing are, are things that we share in values,’ he said. 

This post appeared first on FOX NEWS
Keep Reading
By