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September 4, 2024

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DOJ charges Hamas leaders over ‘terrorist atrocities’ in Oct 7 Israel attack

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The Department of Justice on Tuesday unsealed criminal charges against Hamas chief Yahya Sinwar and other leaders of the brutal organization over the ‘terrorist atrocities’ of the Oct. 7, 2023, massacre in Israel.

The criminal complaint filed in federal court in New York City includes charges of conspiracy to provide material support to a foreign terrorist organization, conspiracy to murder U.S. nationals, and conspiracy to use weapons of mass destruction resulting in death. 

It also accuses Iran and Lebanon’s Hezbollah of providing financial support and weapons, including rockets, that were used in the attack.

The complaint marks the first time that U.S. prosecutors have formally called out the masterminds of the Oct. 7 massacre. 

‘The charges unsealed today are just one part of our effort to target every aspect of Hamas’ operations,’ Attorney General Merrick Garland said in a video address. ‘These actions will not be our last. The Justice Department has a long memory. We will pursue the terrorists responsible for murdering Americans – and those who illegally provide them with material support – for the rest of their lives.’

Hamas stormed into Israel on Oct. 7, 2023, killing around 1,200 Israelis and taking hundreds more hostage. 

Tuesday’s charges come days after Israel Defense Forces recovered the bodies of six hostages – including 23-year-old Israeli American Hersh Goldberg-Polin – in the tunnels beneath Rafah in the Gaza Strip.  

Hamas chief Sinwar is believed to be hiding out somewhere in Hamas’ vast tunnel network beneath Gaza. It’s unclear how much contact he has with the outside world.

Sinwar was appointed the overall head of Hamas after the killing of Ismail Haniyeh in Iran and sits atop Israel’s most-wanted list. 

Other Hamas leaders charged include Haniyeh; Marwan Issa, the deputy leader of Hamas’ armed wing in Gaza who helped plan last year’s attack and who Israel says was killed when fighter jets struck an underground compound in central Gaza in March; Khaled Mashaal, another Haniyeh deputy and a former leader of the group; Mohammed Deif, Hamas’ longtime shadowy military leader who is thought to be dead after an Israeli airstrike in southern Gaza in July; and Ali Baraka, Hamas’ head of external relations.

The DOJ said at least one person – whose name they did not specify in the complaint – is ‘expected to be first brought to and arrested in the Southern District of New York.’

Fox News’ David Spunt and the Associated Press contributed to this report.

This post appeared first on FOX NEWS
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Stock

Stock Market Today: Tech Tumbles as Mega-Cap Stocks Get Hit by Major Profit-Taking

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I hope you had a relaxing, restful long weekend, and welcome to September.

It was a pretty dismal post-Labor Day trading session. We all know September is the worst for stocks, but let’s hope the first day’s action doesn’t foretell how the rest of it will play out. All the broader equity indexes are down, with the Nasdaq taking the biggest hit. The Nasdaq Composite ($COMPQ) and Nasdaq 100 Index ($NDX) closed lower by over 3%.

The StockCharts MarketCarpet was a sea of red, with technology stocks leading down. Some pockets of strength can be seen in Consumer Staples, Real Estate, and Utilities, the leading sectors in Tuesday’s trading.

FIGURE 1. A SEA OF RED. The StockCharts MarketCarpet gives you a good idea of stock market action.Image source: StockCharts.com. For educational purposes.

Tuesday’s Manufacturing PMI was 47.2%, which is lower than expected. This suggests that manufacturing activity is contracting, which may have been the catalyst that led to the stock market selloff.

The daily chart of the S&P 500 ($SPX) below shows the index hit its 50-day simple moving average (SMA) and bounced off it. But what’s less discouraging is that it closed below its 21-day exponential moving average (EMA) and a consolidation range.

FIGURE 2. THE S&P 500 BREAKS BELOW ITS CONSOLIDATION RANGE. If momentum continues to slow, there could be more selling pressure in the near-term.Chart source: StockCharts.com. For educational purposes.

Overall, the pullback is still well above its August low, so, technically, Tuesday’s selloff isn’t as bad as it may seem. But it’s not all that great, either. The full stochastic oscillator in the lower panel shows declining momentum, so there’s a chance that the chart could get ugly.

Techs Tank

The Nasdaq Composite chart looks even worse. The index is flirting with its 100-day SMA and is below the 38.2% Fibonacci retracement level. The stochastic oscillator is also declining much steeper than for the S&P 500.

FIGURE 3. TECH STOCKS TANK. The Nasdaq Composite is flirting with the support of its 100-day moving average. The stochastic oscillator in the lower panel is in a steep decline.Chart source: StockCharts.com. For educational purposes.

The selling frenzy in Tech stocks isn’t new, especially in semiconductor stocks. Nvidia’s earnings weren’t good enough for the market, and Broadcom, Inc. (AVGO) will announce its earnings on Thursday. AVGO stock closed lower by over 6%, and NVDA closed over 9% lower. If Broadcom doesn’t report strong enough earnings, there could be more of a selloff in the Technology sector.

Of course, time will tell, but it’s worth watching the CBOE Volatility Index ($VIX), which rose 38.13%. That may seem high, but it’s not as high as the August 5 spike.

FIGURE 4. THE FEAR INDEX ($VIX) ROSE OVER 38% ON TUESDAY. A spiking VIX is something to watch since it indicates fear among investors, which means further selling could occur.Chart source: StockCharts.com. For educational purposes.

When the VIX starts spiking, it indicates nervousness is in the air. If a rising VIX keeps you up at night, it may be better to take some profits, especially in your most profitable positions. There’s a chance that investors may rotate out of mega-cap tech stocks and into other sectors such as Financials, Utilities, and Health Care.

But today’s market action isn’t showing strength anywhere. Precious metals, oil prices, and cryptocurrencies all fell. The only area that showed strength was the US dollar and bond prices, the latter due to a fall in Treasury yields.

Closing Position

There’s a chance the market could digest today’s Manufacturing PMI data and recover, but there are two factors that warrant cautious trading—a rising VIX and September’s seasonal weakness. Earnings from Broadcom, Inc. and Friday’s Non-Farm Payroll data will be critical variables.

Links to Charts in This Article

Daily chart of S&P 500.Daily chart of Nasdaq Composite.Daily chart of $VIX.

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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Economy

Trump plans to plead not guilty to Jack Smith’s revised federal election interference charges

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Former President Trump plans to plead not guilty to the revised charges in the federal election inference case against him, a new court document shows.

According to a court filing obtained by Fox News, Trump signed an entry of not guilty plea. In the document, which was filed on Tuesday, Trump also waived his right to be present at his arraignment.

‘I authorize my attorneys to enter a plea of not guilty on my behalf to each and every count of the superseding indictment, Doc. 226,’ the document says. ‘I further state that I have received a copy of the superseding indictment and reviewed it with my counsel.’

The case pertains to Trump’s alleged efforts to overturn the results of the 2020 presidential election. Last week, the former president was indicted and given revised criminal charges by Special Counsel Jack Smith, who alleges that the Republican candidate pressured former Vice President Pence to reject legitimate electoral votes, in addition to mounting fake electors in key states that went to President Biden, to attest to Trump’s electoral victory.

Smith revised the charges after a recent Supreme Court ruling extended presidential immunity for official White House acts in a 6-3 decision. 

The recent indictment retains the criminal charges against Trump, including conspiracy to defraud the United States; conspiracy to obstruct an official proceeding; obstruction of and attempt to obstruct an official proceeding; and conspiracy against rights. Trump had previously pleaded not guilty to those charges.

Speaking with Shannon Bream during Sunday’s episode of ‘Fox News Sunday,’ Trump said he had ‘every right’ to do what he did after the 2020 presidential election.

‘Whoever heard you get indicted for interfering with a presidential election where you have every right to do it?’ Trump said.

Vice President Harris’s presidential campaign released a statement blasting Trump on Monday and claimed that the Republican candidate’s recent comments ‘make it clear that he believes he is above the law.’

‘Now, Trump is claiming he had ‘every right’ to interfere in the 2020 election. He did not,’ a Harris campaign spokesperson said in the statement.

Reuters and Fox News Digital’s Adam Shaw contributed to this report.

This post appeared first on FOX NEWS
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