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September 10, 2024

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In this video from StockCharts TV, Julius takes a look at rotations in an asset allocation RRG. He compares fixed-income-related asset classes, commodities, the US dollar, Bitcoin and stocks to a balanced portfolio of 60% stocks/40% bonds. The long-lasting outperformance of stocks seems to be coming to an end.

This assessment of asset allocation is then followed by a look at S&P 500 sector rotation using Relative Rotation Graphs broken down into three groups — offensive, defensive, and (economically) sensitive. The current rotation in the defensive group is really standing out.

This video was originally published on September 10, 2024. Click anywhere on the icon above to view on our dedicated page for Julius.

Past episodes of Julius’ shows can be found here.

#StayAlert, -Julius

The Real Estate sector took the lead in Tuesday’s trading, probably because interest rate cuts are approaching. Technology and Consumer Discretionary took second and third place, respectively.

Overall, it was a pretty quiet trading day except for the energy sector, which showed the biggest decline. The Energy Select Sector SPDR Fund (XLE), the StockCharts proxy for the Energy sector, declined 1.75%.

FIGURE 1. SEPTEMBER 10, 2024 MARKETCARPET. Real Estate was the leading sector, followed by Technology and Consumer Discretionary. Energy was the laggard.Image source: StockCharts.com. For educational purposes.

It looks like investors are slowly rotating back into large-cap growth stocks just in case the asset class quickly trends higher. At the same time, investors aren’t losing sight of the FOMC September 18 meeting, in which the Fed is expected to cut interest rates by at least 25 basis points. A rate cut would favor the Real Estate sector, since lower interest rates encourage borrowing, which could increase real estate sales.

Real Estate Pushes Higher

The Real Estate Select Sector SPDR Fund (XLRE) chart below shows that the ETF set a new two-year high on Tuesday.

FIGURE 2. CHART OF REAL ESTATE SELECT SECTOR SPDR FUND (XLRE). The ETF is trading above its 50-day moving average, with a SCTR score of 99.2 and relative performance against the S&P 500 edging higher.Chart source: StockCharts.com. For educational purposes.

XLRE is trading above its 20-day simple moving average (SMA), and the StockCharts Technical Rank (SCTR) score is at 99.2. XLRE’s relative performance against the S&P 500 ($SPX) is at 2.09%, which is slightly higher than the large-cap index, but there is potential for it to rise further.

CPI and Large-Cap Growth Stocks

The August CPI data is expected to rise 2.6% year-over-year and core CPI is expected to rise 3.2%. Investors will closely watch the data when it’s released Wednesday morning before the open. The CPI will give insight into how much of an interest rate cut to expect at the FOMC meeting, which could cause some waves in tomorrow’s trading. We could see a switcheroo in tomorrow’s MarketCarpet or a continuation of the same, with more buying pressure in the large-cap growth stocks. 

Looking at the Market Factors widget in one of the Dashboard panels, the large-cap growth factor was Tuesday’s top gainer, with a 0.48% rise.

The StockCharts proxy for this market factor is the SPDR S&P 500 Growth ETF (SPYG). This fund’s top holdings include all Mag 7 stocks.

The chart of SPYG is similar to the charts of the Nasdaq Composite ($COMPQ), Nasdaq 100 ($NDX), and Invesco QQQ Trust (QQQ). There’s a little upside movement, but not enough to convincingly suggest a momentum shift.

FIGURE 3. DAILY CHART OF SPDR S&P 500 GROWTH ETF. SPYG is trading in the middle of its July high-to-August low range, which means the ETF has an equal chance of moving in either direction. The RSI needs to move above 50 with above-average volume.Chart source: StockCharts.com. For educational purposes.

There still needs to be much more bullish pressure to move Tech stocks higher. The relative strength index (RSI) should cross over the 50 level with increasing volume. SPYG is trading in the middle of the July high-to-August low range and could move in either direction. A break below the lower blue dashed line could start a bearish move, whereas a break above the upper trendline would be bullish.

Hopefully, we won’t have to wait too long to know whether it’ll be the bulls or bears who dominate the large cap growth stock arena. Tomorrow will present a clearer picture of which way investors are rotating their holdings. 

As a side note, Extended Factors is one of the latest additions to the SharpCharts dashboard panels. These are very useful for identifying which market factors are leading and lagging.

Energy Slump

Oil prices have slid lower recently and have now reached their lowest level in more than two years. The fall in price is related to weaker demand and concerns about China’s economic growth. The chart of the Energy Select Sector SPDR Fund (XLE) shows the magnitude of the fall in energy prices. XLE is trading below its 200-day simple moving average, and the Energy Sector Bullish Percent Index ($BPENER) crossed below 30.

FIGURE 4. THE ENERGY SECTOR’S SLIDE. The Energy Select Sector SPDR Fund (XLE) is trading below its 100-day moving average, and its Bullish Percent Index is below 30. Technically, XLE looks very bearish. Chart source: StockCharts.com. For educational purposes.

Closing Bell

There wasn’t much movement in equities today. Tomorrow could be a different story, with CPI data tomorrow morning before the close. There could be a lot of choppiness in early trading hours.

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.

Perhaps no other industry in the world is more synonymous with risk and emergent (R&D) developments like biotechnology. While the information technology sector has been a dominant driver on Wall Street since the big tech revolution in the 2000s, biotech, a subset of the healthcare sector, took a sharp nosedive during the pandemic in 2020.

By 2020, 80% of all biotech companies were losing money. Near-zero interest rates made it easy for biotech companies to continue raising capital to fund their operations. But as the Fed began raising interest rates a few years later to combat rising inflation, the capital lifeline was cut, and the biotech industry cratered.

But now, with Fed rate cuts on the horizon, Wall Street may be eying this beaten-down industry, currently trading with bargain basement valuations. Does this present an opportunity for a long trade?

Biotech vs. the Broader Healthcare Sector

Let’s look at biotech starting at its 2020 top and compare it to the broader healthcare sector. We’ll use the following industry and sector proxies:

SPDR S&P Biotech ETF (XBI) for our biotech industry proxyHealth Care Select Sector SPDR Fund (XLV) for our sector proxy

Go to your StockCharts Dashboard and open up PerfCharts. Type in XBI,XLV and drag the bottom timeline slider to around 932 days. It should look like this:

CHART 1. PERFCHART OF XBI AND XLV. The chart starts when XBI hit a top in 2020.Chart source: StockCharts.com. For educational purposes.

To get an idea of relative performance, this shows you just how much the biotech proxy has been underperforming healthcare over the last three years.

With that knowledge, what’s going on today with regard to biotech relative to its sector? Why not get a quick glance at the Advancers & Decliners?

In one of the data panels on your StockCharts dashboard, select the More button and click Advancers & Decliners > US Sectors. On Tuesday (mid-day), this is what I saw:

CHART 2. ADVANCERS & DECLINERS BY SECTOR. Notice that the number of advancing and declining stocks are neck-and-neck.Image source: StockCharts.com. For educational purposes.

This tells me something about healthcare as a sector—namely, that the number of stocks going up and down is nearly the same. But it doesn’t tell me much about biotech as an industry.

So, let’s check the StockCharts Sector Summary and drill down.

Open the page and click on XLV. You should see each individual industry. Let’s select a three-month look-back to get a bigger picture of industry performance. This is what I got:

CHART 3. 3-MONTH INDUSTRY VIEW ON STOCKCHARTS’ SECTOR SUMMARY. Biotech rising?Image source: StockCharts.com. For educational purposes.

This tells you that, over the last quarter, biotech’s market performance has been second only to healthcare providers. But take a look at the volume. It has the highest volume of trades in the entire sector. Could this mean that Wall Street is steadily accumulating biotech stocks, fueling its rise to date? If so, is biotech on the verge of an upside trend reversal?

 Let’s look at a daily chart of XBI to see what the price action says.

CHART 4. DAILY CHART OF XBI. There’s a very wide ascending triangle formation in the price chart; the stochastic oscillator is starting to turn higher above the 20 level, and On Balance Volume is trending higher.Chart source: StockCharts.com. For educational purposes.

Here are the main points to watch:

XBI has been trending upward since late April, and it’s about to challenge the $103 range (see blue dotted line) marking the March 2023 high and this year’s July and August highs, forming a long ascending triangle pattern which leans on the bullish side.Price appears to be bouncing off the stochastic oscillator’s 20 line (see orange circle), just above oversold territory.The On Balance Volume (OBV) indicator, whose founding principle is “volume precedes price,” shows that buying pressure is on a steady uptrend, mirroring XBI’s price action.

For XBI’s uptrend to remain valid and to see if Wall Street capital begins flowing into biotech ahead of the anticipated Fed rate cuts, XBI will have to break through resistance at the $103 range while staying above the current trend line (see solid blue trendline) or the last major swing low at $91.

At the Close

Here’s the takeaway: Biotech has had it rough since its 2020 peak, but there could be some light at the end of the tunnel. With Fed rate cuts on the horizon, Wall Street might be eyeing this beaten-down industry for a rebound. Keep an eye on the technical levels to spot any hint of major market moves before the rest of the crowd catches on.

Last but not least, be sure to save XBI 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.

PHILADELPHIA — California Gov. Gavin Newsom is back on the presidential campaign trail.

The high-profile Democrat and two-term governor was one of the top surrogates for President Biden during the president’s re-election campaign.

But other than an appearance – but no speaking role – at last month’s Democratic National Convention (DNC) in Chicago, Newsom has mostly been off the campaign trail since fellow Californian Vice President Kamala Harris replaced Biden atop the party’s 2024 ticket seven and a half weeks ago.

Until now.

Newsom will be one of four Democratic governors – along with Josh Shapiro of Pennsylvania, Roy Cooper of North Carolina and Michelle Lujan Grisham of New Mexico – who will be in the debate spin room on behalf of the vice president.

Ahead of his stop in Philadelphia, Newsom was in New York on Sunday to headline a fundraiser for Harris and also made media appearances on behalf of the vice president and Minnesota Gov. Tim Walz, her running mate.

‘What Kamala Harris has done in the past eight weeks is unprecedented in U.S. history. She’s closed the gap. We’re not just in the margin of error. We’ve expanded the map of the United States,’ Newsom emphasized early Tuesday in an interview on ‘CBS Mornings.’

Newsom was a prominent Biden surrogate and defended him after the president’s disastrous performance in his late June debate against former President Trump, the GOP presidential nominee.

Biden’s halting debate delivery instantly fueled questions about his physical and mental abilities to serve another four years in the White House and spurred a rising chorus of calls from within his own party for the 81-year-old president to end his bid for a second term. Facing increased pressure from fellow Democrats, Biden, in a blockbuster announcement on July 21, ended his re-election campaign and endorsed his vice president.

When asked if he would be as voracious for Harris on the campaign trail as he was for Biden, Newsom pointed to his longtime friendship and working relationship with the vice president.

‘We knew each other a decade before we both got into politics. One of my oldest friends. So it’s a no brainer,’ Newsom told Fox News Digital during the first night of the DNC at Chicago’s United Center arena. ‘I’m as needed. But obviously all in.’

However, Newsom, who is thought to have long harbored national ambitions of his own, added at the time that he may not be asked by the Harris campaign to hit the trail on behalf of the vice president.

‘We’ll see. Because everybody’s out there. Everybody’s doing everything,’ the governor said.

Fast-forward three weeks, and Newsom’s back on the campaign trail.

This post appeared first on FOX NEWS

A high-ranking leader within the United States Secret Service (USSS) has been encouraged to retire nearly two months after the attempted assassination of former President Donald Trump in Butler, Pennsylvania, a source involved at the highest levels of the internal investigation told Fox News.

The official, Assistant Director Michael Plati of the agency’s Office of Protective Operations, led the section in control of planning for protection of Trump, President Biden, Vice President Kamala Harris, Sen. JD Vance and others, and is ending his tenure there this Friday, his 27th anniversary at the agency.

The Secret Service responded in a statement Tuesday that Plati ‘was not asked to resign or retire by anyone. This was a personal decision that he has made and we thank him for his 27 years of dedicated service to the federal government.’ Still, others involved in the investigation have not disputed the underlying narrative that he was encouraged to resign following the July 13 security failure in Butler that has sent shock waves through all levels of the agency.

The USSS is preparing to brief Congress in the coming days about lessons learned from the attempt on Trump’s life.

The Secret Service added that it ‘respects the role of oversight. We have and will continue to make employees available for transcribed interviews and to date we’ve provided over 2,400 pages of responsive documentation to Congress. These efforts will continue as our desire to learn from this failure and ensure that it never happens again is unwavering.’

Plati gave over a month’s notice to make time for a transition. Fox News is told it will come out in the days and weeks ahead when Congress is briefed that the retirement is indeed related to the shooting investigation, but his spokesman said that it was planned and that the timing was coincidental. 

‘Mike has been discussing this for more than a year. He’s retiring on the date of his 27-year anniversary working for the Secret Service. He approached Acting Director [Ronald] Rowe about his retirement last month, before the DNC. He wasn’t asked to retire or resign, and anyone saying otherwise is lying,’ said Greg Henning, the spokesman for Plati.

An agent who asked to remain anonymous was not happy about Plati’s retirement. ‘Mike Plati is known for his integrity and honesty, qualities that are especially commendable at his level of leadership within the Secret Service,’ the agent told Fox News.

USSS Director Kimberly Cheatle resigned under mounting pressure on July 23 following the assassination attempt on the former president, Fox News confirmed. 

The Department of Defense (DOD) has since offered the USSS ‘additional assistance’ in protecting political figures that require personal security.

Anthony Guglielmi, U.S. Secret Service chief of communications, announced last month that the DOD will provide ‘additional assistance including logistics, transportation, and communications, through the 2024 campaign season.’

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Speaker Mike Johnson, R-La., is plowing full steam ahead on his plan to avert a partial government shutdown at the end of the month, despite growing uneasiness within the House GOP.

Johnson’s plan involves a six-month extension of the current fiscal year’s government funding levels, known as a continuing resolution (CR), and combining it with a GOP bill to require proof of citizenship in the voter registration process.

As of Tuesday afternoon, House Republican leaders are expected to hold a vote on the measure Wednesday – despite at least half a dozen GOP lawmakers already expected to vote against it.

‘We’re not looking at any other alternative or any other step. I think it’s the right thing to do,’ Johnson told reporters about pairing the CR with the Safeguarding American Voter Eligibility (SAVE) Act.

It passed a key test vote on Tuesday to allow for debate and then a vote on final passage of the measure. It passed 209 to 206 with Reps. Andy Biggs, R-Ariz., and Matt Rosendale, R-Mont., in opposition; the latter is one of six Republicans publicly against it.

Multiple GOP lawmakers told Fox News Digital that Johnson made similar comments during a closed-door meeting earlier that morning – the House Republican Conference’s first time in one room since returning from their six-week recess.

Some, like Rep. Ralph Norman, R-S.C., applauded his resolve.

‘He is ready to fight,’ Norman, who said he normally opposes CRs, told Fox News Digital. ‘Certain things I don’t like, but overall, it’s a good thing.’

But House Republicans granted anonymity to speak freely said they saw little point in taking a vote on a measure that, if it passed their chamber, is virtually guaranteed to be a nonstarter in the Democrat-controlled Senate.

‘Doesn’t have the votes, no solution to the problem,’ one GOP lawmaker told Fox News Digital in a text message.

Another House Republican said, ‘I don’t think it’s a good idea.’

‘It’s not going to become law and Biden will never sign it,’ they said, pointing out that it would have no effect on this year’s election. ‘So if anything, you could do this a day after the election, and it would be applied to the following term in the next election, which would be the most reasonable thing to do.’

‘Because now we’re playing with a government shutdown that’s, what, eight weeks before a presidential election?’

Several of the GOP defectors are against CRs as a matter of principle, believing it’s an unnecessary extension of government bloat. Others expressed national security concerns about how a six-month extension with no increases to military funding would affect national security. 

Meanwhile, at least two more lawmakers, Reps. John Rutherford, R-Fla., and Victoria Spartz, R-Ind., expressed skepticism but did not outright oppose it.

‘I’m a lean no, but I’m never going to vote to shut the government,’ Rutherford told reporters, citing defense funding concerns.

Spartz said she opposed the ‘omnibus spending’ she sees CRs representing, and questioned whether Johnson was serious about gambling with a shutdown.

‘Are we really planning to take that hill? Because we’d better bring the American people with us and communicate what’s going to happen,’ Spartz said.

And while Johnson insisted on holding firm to his plan, which was also advocated for by former President Trump, others in his conference signaled they’re looking for the next step.

Rep. Don Bacon, R-Neb., suggested Republicans would eventually agree to a funding extension without other legislation attached, and one that would likely only extend until December – something senior GOP lawmakers and Democrats have advocated for months.

‘There’ll be an agreement across the aisle, but probably a short-term CR, I imagine,’ Bacon said.

When asked whether congressional negotiators were already working on a Plan B, House Appropriations Chair Tom Cole, R-Okla., told Fox News Digital, ‘We always have multiple, you know, things available.’

With just a four-seat majority and at least six defections, Johnson’s bill will almost certainly need Democratic votes to pass the House.

Five Democrats voted for the SAVE Act when it passed earlier this year, but with opposition from their leaders in the House, Senate and White House, it’s not clear whether they would support pairing the bill with a stopgap spending bill.

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The House Judiciary Committee is requesting a briefing from the Justice Department on how it is working to combat ‘potential conflicts of interest and political bias’ in its lawsuit against Google, amid reports that the Big Tech giant’s lead attorney is helping prep Vice President Kamala Harris for the debate against former President Donald Trump. 

Fox News Digital obtained a letter House Judiciary Committee Chairman Jim Jordan, R-Ohio, sent to Attorney General Merrick Garland on Tuesday morning. 

‘The Committee on the Judiciary and the Select Subcommittee on the Weaponization of the Federal Government continue to conduct oversight of how and to what extent the Executive Branch has colluded with companies and other intermediaries to censor lawful speech,’ Jordan wrote. 

Jordan went on to cite a Fox News Digital report that revealed that the lead attorney defending Google in U.S. v. Google LLC, a high-profile antitrust case led by the Justice Department, is simultaneously advising and prepping Harris for the debate against Trump on Tuesday night, hosted by ABC News in Philadelphia.

Karen Dunn, who is Google’s outside counsel through law firm Paul, Weiss, Rifkind, Wharton & Garrison, is listed in the lawsuit as a ‘lead attorney.’ 

Dunn is also on Harris’ campaign team to prep her for her debate against Trump. Dunn also advised Harris ahead of her 2020 vice presidential debate against then-Vice President Mike Pence. 

The Trump campaign, last month, called out a potential conflict of interest. 

‘In light of existing evidence that the Biden-Harris Administration pressured and colluded with Google to censor the lawful speech of American citizens, we write to request a briefing about how the Department of Justice is working to combat potential conflicts of interest and political bias in United States v. Google LLC,’ Jordan wrote. 

‘This apparent conflict of interest raises serious concerns about whether Dunn’s relationship with key figures in the Biden-Harris Administration creates a conflict of interest that could inappropriately bias the Department’s approach in United States v. Google LLC,’ Jordan added. 

Jordan reminded Garland that when he was nominated attorney general, he pledged to ‘guarantee the independence of the Department from partisan influence.’ 

‘This assertion is hard to square with reporting that Ms. Dunn is leading debate preparations for Vice President Harris while she also leads Google’s defense against a Biden-Harris administration lawsuit,’ Jordan wrote.

Jordan said that ‘given this potential conflict of interest,’ he is requesting a briefing on how the DOJ is working to combat ‘this and other potential conflicts of interest and political bias’ in the Google case. 

Jordan asked that DOJ staff arrange the briefing by Sept. 24. 

Neither the Harris campaign nor Dunn responded to Fox News Digital’s request for comment on Dunn’s work ahead of the debate. 

The Justice Department confirmed receipt of the letter, but declined to comment on the matter. 

The revelations come after Google came under scrutiny following the assassination attempt against Trump. Google’s autocomplete search results did not initially register the July 13 assassination attempt against Trump. 

Google admitted that it initially blocked and eliminated search prompts for the assassination attempt against Trump, saying they were prohibited by design and part of the company’s policy to prevent search results for ‘hypothetical political violence against current figures.’ 

‘We do not allow predictions that can be interpreted as accusations against individuals or groups of serious malevolent acts, where there is a lack of well-established or expert supporting evidence,’ he said. 

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Washington and Baghdad are working on a plan to draw down the U.S. troop presence in Iraq as soon as next year.

The U.S. and Iraq have reached an ‘understanding’ on plans to have hundreds of U.S. troops leave Iraq by September 2025 and the remainder leave by January 2027, according to a new Reuters report. However, no set-in-stone decision has been made, two defense officials told Fox News, and the timing is in flux. 

While the U.S. pulled out the last of its troops from Afghanistan in 2021, some 2,500 troops still remain in Iraq, and 900 remain in Syria. 

The remaining service members in Iraq are largely focused on combating ISIS under a global coalition, known as Operation Inherent Resolve. Last month, the U.S. carried out a joint raid, killing 15 ISIS fighters in Western Iraq. 

When asked about the Reuters report on Monday, Pentagon press secretary Pat Ryder told reporters that U.S. and Iraqi officials ‘continue to have their discussions’ on drawing down troops, as they have been since the start of the year. He would not comment on the accuracy of the report. 

‘As part of the U.S. Iraq Joint Security Cooperation dialog, we establish the Higher Military Commission, that will look at, the transition of the global coalition, into a long-term U.S. Iraq bilateral security cooperation relationship. And so those conversations are ongoing. And I just don’t want to get ahead of that process.’ 

The U.S. initially invaded Iraq in 2003, toppling Saddam Hussein’s regime and drawing down its troop presence from wartime levels in 2007 and leaving altogether in 2011, before returning in 2014 at the head of the coalition to fight the Islamic State.

Other nations, including Germany, France, Spain and Italy, also contribute hundreds of troops to the coalition. Under the reported plan, all coalition forces would leave the Ain al-Asad Air Base in the western Anbar province and significantly pull back their presence in Baghdad by September 2025.

While their mission is focused on the Islamic State, the U.S. troop presence serves as a strategic position against the growing threat of Iran. U.S. forces in Iraq have shot down rockets and drones fired towards Israel in recent months, according to U.S. officials. 

Prime Minister Mohammed Shia’ al-Sudani has said he appreciates the U.S. help, but forces there have become a target for instability, often targeted and responding with strikes not coordinated with the Iraqi government. Al-Sudani is walking a tight line between an alliance with both Washington and Tehran. 

Defense experts argue that U.S. resources in Iraq indirectly benefit Iran because of the Iraqi government’s close alignment with the regime.

‘Our continued presence, while necessary during the fight against ISIS, now risks contributing to instability rather than achieving long-term peace,’ Jason Beardsley, a former senior Defense official, told Fox News Digital.

‘Recent events have shown that Iraqi forces are increasingly capable of managing their own security,’ the Army and Navy veteran said. 

‘With the current Iraqi government heavily influenced by Iranian-backed Shia factions, including the Popular Mobilization Front, maintaining U.S. troops doesn’t effectively counterbalance Iran. In fact, our resources end up indirectly benefiting those aligned with Iranian interests, making this a misguided strategy.’

‘The Iranians have done a fantastic job infiltrating the Iraqi Security Forces,’ said Bill Roggio, a senior fellow with the Foundation for Defense of Democracies. ‘But this ensures Iranian dominance in Iraq.’

‘They get free rein in Iraq to do their bidding. And as far as the fight against the Islamic State goes, this is going to be harmful as well. Islamic State has not been defeated, as much as the Trump and Biden administrations have said,’ he went on. ‘I also don’t see how the U.S. is going to maintain troops in Syria. Without the troops in Iraq, they’re going to be isolated.’

However, according to Roggio, ‘As currently situated, the U.S. either needs to put more troops in to secure themselves from militia attacks, or they need to be withdrawn.’

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Vice President Kamala Harris and former President Donald Trump are set to face off in their first presidential debate, and the stakes could not be higher. Harris has erased Trump’s comfortable lead in the polls, setting up a razor-thin election with less than two months to go.

The highly anticipated matchup is the first time Trump and Harris will meet in person. It comes just 51 days after President Biden withdrew from the 2024 race and 75 days after his disastrous debate performance.

With Trump set to make a record seventh general election debate appearance, here is a look at what to expect in tonight’s debate as well as his past performances. 

Trump, Harris debate on Sept. 10

Although Tuesday’s debate is the second one of the 2024 campaign season, it is the first time the current nominees will face off. The 90-minute, audience-free debate will take place at the National Constitution Center in Philadelphia. 

While Harris is hunkering down in Pittsburgh, Trump has forsaken traditional debate preparation. Trump has, however, employed former Democratic Rep. Tulsi Gabbard to help him refine his skills Gabbard, who recently endorsed Trump, had her own famous moment on the debate stage, when in 2020, she attacked Harris for her record as a California prosecutor.

Trump is expected to focus on inflation and immigration, two of the top issues in the 2024 race. The Trump campaign has been linking Harris to some of Biden’s weaker areas, a strategy he is expected to employ in the debate. Harris is expected to focus on abortion rights, which is tied with inflation at 14%, as the second-biggest issue in the race. The overturning of Roe v. Wade has proven to be one of Trump’s greatest political vulnerabilities.

Trump, Biden debate on June 27

The only 2024 debate between Biden and Trump was the first time a sitting president and a former president ever debated. It is also perhaps the most consequential in history as it ultimately led Biden to abandon his 2024 bid.

During the debate, the president struggled to mount a coherent defense or finish his sentences at times. As Biden wrapped up an argument about his record on border security, Trump quipped, ‘I really don’t know what he said at the end of that sentence. I don’t think he knows what he said, either.’

The Atlanta debate where Trump and Biden clashed overabortion, immigration, foreign policy and inflation amassed 51.3 million viewers, according to Nielsen Media Research. At the time, Real Clear Politics had Trump leading Biden by 1.5 points.

Trump, Biden debate on Oct. 22, 2020

Trump and Biden squared off in Nashville, Tennessee, less than two weeks before Election Day. The debate was more subdued than the first round, in part due to new rules that kept each candidate’s microphone muted. 

As Biden and Trump squabbled over personal finances, Trump claimed Biden had made money from foreign entities. Trump further sought to paint Biden as a typical, corrupt politician. A recent report from House Republicans alleged that Biden ‘participated in a conspiracy to monetize his office of public trust to enrich his family.’

Trump also questioned Biden’s accomplishments over his nearly 50-year public service career. Trump said he decided to mount a run for president because of the Obama administration’s ‘poor job.’

‘I ran because of you, Joe,’ Trump said. ‘I ran because of you.’

Nielsen Media Research recorded 63 million viewers for the final debate of the 2020 cycle. On the day of the debate, Biden led Trump by 7.9 points.

Trump, Biden debate on Sept. 29, 2020

What people most likely recall from this debate is Trump’s constant interruptions that led an exasperated Biden to declare, ‘will you shut up, man?’ The debate quickly descended into chaos as the two sparred over abortion rights and Trump’s handling of the COVID-19 pandemic. An unrelenting Trump pushed Biden on whether he would ‘pack’ the Supreme Court in the wake of Justice Ruth Bader Ginsburg’s death. As the two men heatedly talked over each other about the pandemic, Trump declared, ‘I’ll tell you Joe, you could never have done the job that we did. You don’t have it in your blood.’

Trump did not shy away from making personal attacks on Biden, hurling insults about his intelligence, saying, ‘There’s nothing smart about you, Joe.’

With 73.1 million viewers, the debate in Cleveland was the most watched for a Trump-Biden matchup. Real Clear Politics had Biden leading Trump by 6.1 points on the day of the debate. 

Trump, Clinton debate on Oct. 19, 2016

The final debate of the 2016 cycle had Donald Trump and Hillary Clinton focusing more on personal weaknesses than policy. When Clinton attempted to tie Trump to Russia, he retorted that Russian President Vladimir Putin ‘doesn’t respect’ Clinton or then-President Barack Obama and insisted that he did not know Putin. As the two contended over Obamacare and Social Security, Trump proceeded to call Clinton, ‘such a nasty woman.’

Clinton repeatedly used the debate to belittle Trump’s character. Clinton’s strongest language came when she challenged Trump’s behavior toward women. Trump pushed back, vehemently denying any claims of inappropriate behavior toward women. ‘Nobody has more respect for women than I do,’ he said. 

A key highlight of the debate came when Trump declined to say he would accept the results of the election (much like his responses in 2020). Trump doubled down on insisting the process was ‘rigged’ and that he would ‘look at it at the time.’

Trump, Clinton debate on Oct. 9, 2016 

Trump used this debate as an opportunity to launch a blistering attack against Clinton and her husband, former President Bill Clinton. When questioned about his conduct toward women, Trump stated ‘there’s never been anybody in the history of politics that has been so abusive to women,’ about former President Clinton. Hillary Clinton refused to address his comments about her husband.

Trump and Clinton also quarreled over Russian aggression, Trump’s refusal to release his tax returns and his plans for the ‘extreme vetting’ of immigrants arriving from countries with criminal links.

Trump, Clinton debate on Sept. 26, 2016

Trump’s first presidential debate was the first to surpass 70 million viewers in nearly four decades, gaining a record 84 million viewers. 

Trump came out swinging as he addressed the economy and jobs. As Clinton sought to defend her economic proposals, Trump attacked her political record, declaring she was a ‘typical politician: all talk, no action.’ However, as the debate progressed, Clinton put Trump more on the defensive. At one point, Clinton pushed Trump on his past comments on race and sex, prompting him to say, ‘It’s all words, it’s all soundbites.’

An overview of Trump’s past debates reveals an approach of rapid-fire statements, personal affronts, and ripostes – a strategy aimed at overwhelming his opponents. Additionally, with the race proving to be as tight as it is, Harris is anticipated to face greater pressure as the newer and unproven contender. 

This post appeared first on FOX NEWS

House Speaker Mike Johnson, R-La., and House Minority Leader Hakeem Jeffries, D-N.Y. hosted a Gold Medal ceremony for the 13 U.S. service members killed at Abbey Gate during the Afghanistan withdrawal. 

Johnson posthumously presented the Gold Medal, Congress’ highest honor, to the 13 fallen Americans who were killed during the August 2021 ISIS-K suicide bombing at the Kabul Airport. 

He opened the ceremony on Tuesday by naming the fallen and apologizing to their families. 

The 13 U.S. service members killed at Abbey Gate were: Marine Corps Staff Sgt. Darin T. Hoover, Marine Corps Sgt. Johanny Rosario Pichardo, Marine Corps Sgt. Nicole L. Gee, Marine Corps Cpl. Hunter Lopez, Marine Corps Cpl. Daegan W. Page, Marine Corps Cpl. Humberto A. Sanchez, Marine Corps Lance Cpl. David L. Espinoza, Marine Corps Lance Cpl. Jared M. Schmitz, Marine Corps Lance Cpl. Rylee J. McCollum, Marine Corps Lance Cpl. Dylan R. Merola, Marine Corps Lance Cpl. Kareem M. Nikoui, Navy Petty Officer Third Class Maxton W. Soviak, and Army Staff Sgt. Ryan C. Knauss. 

‘Our nation owes a profound debt of gratitude to these service members and those here today who were with them in Kabul. We also owe them something deeper, and that is an apology to the families who are here. I know many of you have yet to hear these words, so I will say them. We are sorry,’ Johnson said in opening remarks. ‘The United States government should have done everything to protect our troops. Those fallen and wounded at Abbey gate deserved our best efforts, and the families who have been left to pick up the pieces continue to deserve transparency and appreciation and recognition to you and the families who are not here. I can promise you this you are not alone in shouldering the burdens from that day. And although we can never fully measure your loss, we can and we must memorialize the ultimate sacrifice that was paid.’

Coral Doolittle, the mother of Marine Cpl. Humberto Sanchez, closed the ceremony with a plea to Americans on behalf of the families of the 13 fallen: ‘Say their names. Speak their names and tell their stories.’ 

‘We are honored to stand here today, receiving this recognition on behalf of the 13 who gave their lives. As their parents, our grief never truly ends,’ she said. ‘It changes, it transforms, but it remains with us always. A big part of us died with our children on Aug. 26, 2021. We want everybody to know the ceremonies like this provide a small but meaningful breath of relief in our ongoing journey of grief, reminding us that we raised the best and brightest for this country. We deeply appreciate the efforts of Congress and the Speaker of the House for making this moment possible.’ 

In his remarks, Jeffries said with the congressional Gold Medal, ‘we reverently honor 13 patriots who have fallen in a war zone with tremendous valor.’

‘The 13 heroes we are honoring here today represent the best of America. They were beloved sons and daughters, brothers and sisters, spouses and friends who knew the dangers of the mission but nevertheless answered the call to serve, risking their own safety for that of our fellow Americans, our allies and our Afghan partners. They defended freedom and democracy until their last breath. They held the gate,’ Jeffries said. ‘The Gold Medal we are presenting today is the highest honor that can be conferred by the United States Congress. But no honor can truly repay the incredible sacrifice made by our fallen to the families here.’

‘This Congressional Gold Medal also represents our ironclad promise to you. We have not forgotten your pain. We will never forget the ultimate sacrifice your loved ones have made, and our gratitude will be eternal,’ he said. ‘May the memory of these children of God, defenders of peace and defenders of liberty continue to inspire us all to protect freedom and democracy here at home and throughout the world, as they valiantly did.’ 

House Minority Leader Mitch McConnell, R-Ky., recognized that the 13 U.S. service members killed ‘bound up the wounds of a war that had spanned their entire lives.’ 

‘In an instant, 13 young Americans from every corner of our country were bonded forever. In an instant, their heroic service became an ultimate and eternal sacrifice,’ McConnell said, after reading personal details about how each of the fallen are remembered by their families. ‘Today, the name Abbey Gate carries a heavy toll of anger, of confusion and unspeakable grief. But we declare here today, with the highest honor in Congress, and bestow that deep in the hearts of a grateful nation, those two words will forever stand for bravery, the bravery of your sons and daughters and our heroes. ‘ 

Senate Majority Leader Chuck Schumer, D-N.Y., pointed out how some of the 13 U.S. service members killed at Abbey Gate ‘were even younger than the war in Afghanistan itself.’

‘But to the citizens desperately trying to escape the Taliban’s rule through Abbey Gate on that fateful day, these 13 Americans were something more heroes. Guardians, saviors that were fighting for a cause far bigger than themselves, to deliver freedom to those who otherwise might never, never have known it again,’ Schumer said. ‘As we remember the 13 fallen heroes, we likewise remember every American who served in Afghanistan, including the 2,400 killed, the over 20,000 wounded, and the hundreds of thousands more who wore the uniform.’ 

‘Tomorrow, we honor the anniversary of September 11th, a day when we rededicate ourselves to that sacred promise. Never forget,’ Schumer said. ‘Well, that is what this morning’s ceremony is all about. We will never forget the sacrifice of the fallen 13 service members. It now falls on us to all of us gathered here under the dome of Lady Liberty to ensure the sacrifices of all our servicemen were not in vain.’ 

The attack also left roughly 170 Afghans dead. Tuesday’s ceremony comes two days after Rep. Mike McCaul, the Republican chair of the House Foreign Affairs Committee, released a scathing 350-page report that took a fine-toothed comb to the military’s 2021 Afghanistan withdrawal and highlighted areas of serious mismanagement. 

The Republican-led report opens by harkening back to President Biden’s urgency to withdraw from the Vietnam War as a senator in the 1970s. That, along with the Afghanistan withdrawal, demonstrates a ‘pattern of callous foreign policy positions and readiness to abandon strategic partners,’ according to the report.

The report also disputed Biden’s assertion that his hands were tied to the Doha agreement former President Trump had made with the Taliban establishing a deadline for U.S. withdrawal for the summer of 2021, and it revealed how state officials had no plan for getting Americans and allies out while there were still troops there to protect them.  

On the three-year anniversary of the attack last month, Trump joined the families of the slain 13 U.S. service members at Arlington National Cemetery. 

Biden and Vice President Harris were absent. Though they released written statements listing the names of the 13 fallen that day, neither Biden nor Harris spoke publicly on the anniversary. 

At the Republican National Convention in July, the Gold Star families took to the stage blasting President Biden for never saying the names of those 13 Americans killed publicly out loud. 

Harris later accused Trump of playing politics with the visit to Arlington National Cemetery, but in a series of short videos, eight families said they had invited Trump, and bitterly blasted the Biden-Harris administration over the pullout that left 13 U.S. service members dead three years ago. 

The vice president had criticized Trump’s team for taking photographs and videos at a wreath-laying ceremony event. The Army said that an Arlington National Cemetery official was ‘abruptly pushed aside’ while making sure that Trump’s team was ‘made aware of federal laws, Army regulations and DoD policies, which clearly prohibit political activities on cemetery grounds.’

The Gold Star families who lost loved ones in the botched Afghanistan withdrawal blasted Harris over her attack on Trump’s visit paying respect to the fallen. 

Fox News’ Morgan Phillips, Nicholas Kalman and Andrea Vacchiano contributed to this report. This is a developing story. Please check back for updates. 

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