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Here’s a quick recap of the crypto landscape for Wednesday (April 9) as of 9:00 p.m. UTC.

Bitcoin and Ethereum price update

At the time of this writing, Bitcoin (BTC) was priced at US$82,060.13 and up 7.2 percent in 24 hours. The day’s range has seen a low of US$76,842.48 and a high of US$82,665.31.

Bitcoin performance, April 9, 2025.

Chart via TradingView.

Bitcoin is back to trading near levels seen earlier in the week following an announcement from the White House that tariffs against most countries will be paused for 90 days, after which reciprocal tariffs will be lowered to 10 percent. China is an exception — tariffs against the country have been boosted immediately to 125 percent.

Ethereum (ETH) is priced at US$1,633.44, an 11.9 percent increase over the past 24 hours. The cryptocurrency reached an intraday low of US$1,459.15 and a high of US$1,661.40.

Altcoin price update

  • Solana (SOL) is currently valued at US$118.54, up 14.3 percent over the past 24 hours. SOL experienced a low of US$104.09 and a high of US$119.68 on Wednesday.
  • XRP is trading at US$2.03, reflecting an 11.8 percent increase over the past 24 hours. The cryptocurrency recorded an intraday low of US$1.79 and a high of US$2.06.
  • Sui (SUI) is priced at US$2.24, showing an increaseof 13.9 percent over the past 24 hours. It achieved a daily low of US$1.09 and a high of US$2.26.
  • Cardano (ADA) is trading at US$0.6308, reflecting a 12.8 percent increase over the past 24 hours. Its lowest price on Wednesday was US$0.5597, with a high of US$0.64.

Crypto news to know

Trump’s tariff shock wipes US$2 billion from US Bitcoin stash

The US government’s Bitcoin holdings have dropped by nearly US$2 billion in value since April 2 — dubbed “Liberation Day” by President Donald Trump — following a steep market selloff triggered by tariff announcements.

According to Arkham Intelligence, the 198,012 BTC held by federal agencies declined in value from US$17.24 billion to US$15.21 billion in just under a week as Bitcoin slid from over US$87,000 to below US$77,000.

An executive order made by Trump in March established a strategic Bitcoin reserve sourced from seized assets, further tying federal coffers to price swings in the cryptocurrency. The losses come as the administration ramps up global economic pressure, testing the volatility of its newly created digital reserve.

Digital asset regulations under scrutiny at congressional hearing

The Subcommittee on Digital Assets, Financial Technology and Artificial Intelligence (AI) held a hearing on Wednesday to examine why current regulations may not apply to digital asset activities, and to explore which of these activities trigger US securities laws. Members of the subcommittee also discussed how Congress can address challenges through legislative action that reduces legal uncertainty while encouraging innovation.

At the hearing, Rodrigo Seira, special counsel to law firm Cooley, told the subcommittee that current securities laws are not flexible enough to account for digital assets, citing a long list of crypto projects that have tried and failed to register their products with the US Securities and Exchange Commission (SEC).

“It is clear that the current securities regulatory framework is not a viable option to regulate crypto. It fails to achieve its stated policy goals,” Seira said in his opening remarks.

“(T)he idea that crypto projects can come in and register with the SEC is demonstrably false.”

Seira admitted that it is critical to apply federal regulations to crypto promoters; however, “virtually no crypto projects have successfully registered their tokens under federal securities laws and lived to tell the tale.”

Representative Bryan Steil, head of the subcommittee, praised the progress that lawmakers have made, mentioning last week’s passing of the STABLE Act in the House of Representatives, before directing the subcommittee to the next stage of the process, namely comprehensive digital asset market structure legislation.

Pakistan taps Bitcoin mining and AI to solve power woes

Pakistan is turning to Bitcoin mining and AI data centers as a solution for its surplus electricity problem, aiming to repurpose excess power into revenue-generating infrastructure.

Bilal Bin Saqib, head of the country’s Crypto Council, told Reuters that mining sites will be selected based on regional energy overcapacity, with former Binance CEO Changpeng Zhao advising on the initiative.

Despite regulatory ambiguity, Pakistan ranks among the top 10 countries in global crypto adoption and boasts over 15 million users. The move also emphasizes youth blockchain upskilling and fostering innovation in fintech through regulatory sandboxes to boost exports and economic resilience.

Kraken, Mastercard bring crypto spending to 150 million merchants

Crypto exchange Kraken is teaming up with Mastercard (NYSE:MA) to roll out crypto debit cards across the UK and Europe, enabling users to spend digital assets at more than 150 million merchants.

The partnership builds on Kraken Pay, which allows seamless crypto-to-fiat transactions in over 300 currencies.

The new physical and digital cards — set to launch in the coming weeks — are aimed at expanding crypto’s real-world utility and normalizing digital asset payments.

Kraken CEO David Ripley views this as a critical step toward integrating crypto into everyday commerce, while Mastercard has underscored its commitment to innovating in digital finance and supporting blockchain initiatives.

Binance to delist 14 tokens

Binance announced on Tuesday (April 8) its decision to delist 14 tokens — BADGER, BAL, BETA, CREAM, CTXC, ELF, FIRO, HARD, NULS, PROS, SNT, TROY, UFT and VIDT — from its platform on April 16.

The decision follows a comprehensive evaluation that included a review of project commitment and trading volume. The outcome also incorporated the results of Binance’s newly introduced ‘Vote to Delist’ mechanism, which allows users to vote on potentially underperforming tokens based on their BNB holdings.

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

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

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With Canada’s energy and critical minerals sectors at a crossroads, Conservative Party leader Pierre Poilievre has unveiled a sweeping plan to overhaul the country’s resource project approvals process, fast tracking 10 major projects and pledging over US$1 billion in funding to open up Ontario’s mineral-rich Ring of Fire region.

At a Monday (April 7) press conference held in Terrace, BC, Poilievre introduced his “One-and-Done” policy — a streamlined permitting system aimed at eliminating regulatory bottlenecks and cutting multi-year wait times, which he blames for stalling development and weakening Canada’s global economic position.

Under the proposal, a new Rapid Resource Project Office would act as a centralized hub to manage all regulatory approvals across the federal and provincial levels. Each project would be subject to a single application and environmental review, with decisions promised within a year and a target of six months.

“After the Lost Liberal decade, Canada is poorer, weaker, and more dependent on the US than ever before, especially as a market for our natural resources,” Poilievre said in a release. “My ‘One-and-Done’ rule will quickly and safely unleash Canada’s natural resources by rapidly approving the projects Canadians need more of now: mines, roads, LNG terminals, hydro projects, and nuclear power stations, so we can stand on our own two feet and stand up to the Americans.’

LNG Canada, Ring of Fire projects top Conservative agenda

Among the most significant commitments is the LNG Canada Phase II expansion in Northern BC, which would double liquefied natural gas output from 14 million to 28 million metric tons annually.

The expansion has faced numerous delays due to emissions caps and concerns over power supply.

A Conservative government, Poilievre said, would repeal federal legislation he calls obstructive — notably Bill C-69, which he brands the “No Pipelines – No Development Law” — and lift the emissions cap that could impede Phase II.

Also at the top of Poilievre’s list is development of the Ring of Fire — a vast area in Northern Ontario rich in chromite, nickel, cobalt and other critical minerals essential for electric vehicles and defense technologies.

Three weeks ago, Poilievre pledged that a Conservative government would approve all federal permits for Ring of Fire projects within six months and commit C$1 billion over three years to build a long-awaited access road connecting mineral deposits and Indigenous communities to the provincial highway network.

“We could boost our economy with billions of dollars, allowing us to become less dependent on the Americans, while our allies overseas would no longer have to rely on Beijing for these metals, turning dollars for dictators into paychecks for our people,” Poilievre said at the time, emphasizing the importance of supply chain security.

He also said companies operating in the Ring of Fire would be allowed to redirect a portion of their federal corporate taxes directly to local Indigenous groups, a move he argues would foster economic reconciliation and local buy in.

Nine other projects slated for acceleration

In addition to LNG Canada Phase II and the Ring of Fire road, Poilievre named nine other projects that his government would prioritize for review and approval:

  • Northern Road Link (Ontario): A key multi-use road to connect Ring of Fire deposits, under review since 2023.
  • Sorel-Tracy port terminal (Québec): A new terminal in the St. Lawrence industrial corridor.

Each of these projects has faced lengthy delays under the current review framework, Poilievre said, and would be reviewed immediately to identify and remove administrative barriers.

Carney outlines ‘One Project, One Review’ agenda

At a campaign stop in Calgary, Alberta, Prime Minister and Liberal Party leader Mark Carney introduced the ‘One Project, One Review’ policy, which is intended to expedite approvals for major mining projects in Canada.

The initiative aims to eliminate redundant federal and provincial environmental assessments by recognizing provincial evaluations, thereby streamlining the permitting process. The policy is designed to accelerate the development of critical minerals, such as lithium, cobalt and nickel, which are essential for clean energy technologies.

By reducing regulatory delays, the government would seek to enhance Canada’s competitiveness in the global mining sector and support its transition to a sustainable energy future.

Carney told the crowd his goal is to make Canada an ‘energy superpower.’

“We are going to aggressively develop projects that are in the national interest in order to protect Canada’s energy security, diversify our trade, and enhance our long-term competitiveness — all while reducing emissions,” Carney explained in a written statement on Wednesday (April 9). “We can lead the energy transition while ensuring affordable energy at home and building the strongest economy in the G-7.”

He pledged to expand Canada’s critical mineral exploration tax credit to cover minerals used in defense, semiconductors, energy and cleantech. Carney also plans to broaden eligible exploration expenses to include technical studies and extend the clean manufacturing tax credit to support brownfield site development.

‘This is huge,” Pierre Gratton, CEO of the Mining Association of Canada, told Bloomberg. “It includes an awful lot of stuff that we’ve been advocating for for a while, and not getting.”

He added, “This could really help increase Canadian production of critical minerals in the short- to medium-term.”

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

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U.S. Ambassador to Ukraine Bridget Brink is stepping down, the State Department confirmed Thursday, as the Trump administration ramps up its efforts to broker a peace deal between Russia and Ukraine.

Tammy Bruce, a State Department spokesperson, said Brink would be leaving her role, though she didn’t give a specific departure date. 

The news comes at a critical moment for U.S. foreign policy as officials work to ease tensions and end the grinding war in Eastern Europe.

Brink, a career diplomat with decades of experience, was nominated by then-President Joe Biden and unanimously confirmed by the Senate in May 2022, just months after Russia launched its full-scale invasion of Ukraine. 

She became the first U.S. ambassador to serve in Kyiv since 2019, helping reestablish America’s diplomatic presence after embassy staff were evacuated in the early days of the war.

Before serving in Ukraine, Brink was the U.S. ambassador to Slovakia and worked in top roles at the National Security Council. She speaks Russian and is known for strongly defending U.S. interests in Eastern Europe.

While in Ukraine, Brink was a vocal supporter of American military aid and often appeared publicly with Ukrainian leaders. Her resignation comes as the Trump administration shifts focus toward ending the war through diplomacy and renewed talks with Russia.

Also on Thursday, U.S. and Russian officials held rare face-to-face talks in Istanbul aimed at repairing long-strained diplomatic relations. The State Department said the two sides exchanged formal notes to finalize an agreement that would stabilize banking services for each country’s embassies, a step seen as key to keeping diplomatic missions operational.

In recent years, both countries have imposed financial restrictions on each other’s embassies and slashed staffing due to the fallout from the war. A finalized banking deal could open the door to restoring some of those lost diplomatic connections.

The State Department said follow-up talks are expected, though no date has been set.

Brink’s departure lands at a moment of major transition in U.S. foreign policy. Her exit may also clear the way for a new ambassador more closely aligned with the Trump administration’s push for a ceasefire deal.

The State Department did not immediately respond to Fox News Digital’s request for comment.

The Associated Press contributed to this report.

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The Senate has voted to confirm the general who told President Donald Trump that ISIS could be eradicated ‘very quickly’ with loosened rules of engagement during his first term to the role of chairman of the Joint Chiefs. 

The vote came in the wee hours of Friday morning after Democrats rejected a GOP attempt to quickly confirm Caine on Thursday and get out of town.

The vote tally was 60 to 25, with 15 Democrats supporting the Trump nominee.

An Air Force F-16 pilot by background, Caine will be the first National Guard general to be chairman of the Joint Chiefs. Trump plucked him from retirement to reactivate and serve as his top military advisor after firing Gen. C.Q. Brown in February. 

Brown had been behind a 2022 memo laying out diversity goals for the Air Force.  

Caine will be the first Joint Chiefs chairman who was not a four-star and the first to come out of retirement to fill the role. He hasn’t been a combatant commander or service chief, meaning Trump had to grant him a waiver to serve in the role. 

Caine acknowledged his unconventional nomination during a hearing before the Senate Armed Services Committee: ‘In our family, we serve. When asked, we always say yes. Senators, I acknowledge that I’m an unconventional nominee. These are unconventional times.’ ​

He worked as the associate director of military affairs for the CIA from 2021 to 2024 and founded a regional airline in Texas. He was a White House fellow at the Agriculture Department and a counterterrorism specialist on the White House’s Homeland Security Council.

Caine was among a group of military leaders who met with the president in December 2018 at the Al Asad airbase in Iraq. Trump was there to deliver a Christmas message and hear from commanders on the ground, and there Caine told Trump they could defeat ISIS quickly with a surge of resources and a lifting of restrictions on engagement. 

”We’re only hitting them from a temporary base in Syria,” Trump said Caine told him. ”But if you gave us permission, we could hit them from the back, from the side, from all over – from the base that you’re right on, right now, sir. They won’t know what the hell hit them.” 

Trump had claimed Caine was wearing a red MAGA hat the first time he met him – a claim Caine repeatedly denied during the hearing.

‘Sir, for 34 years, I’ve upheld my oath of office and my commitment to my commission, and I have never worn any political merchandise,’ Caine told Armed Services Chairman Roger Wicker, R-Miss. 

Trump, when he picked Caine, praised him as ‘an accomplished pilot, national security expert, successful entrepreneur, and a ‘warfighter’ with significant interagency and special operations experience.’

Caine vowed his duty would be to advise the president on defense considerations without any political influence. 

The role, he said, ‘starts with being a good example from the top and making sure that we are nonpartisan and apolitical and speaking the truth to power,’ Caine said.

Trump’s first chairman of the Joint Chiefs, Gen. Mark Milley, has now become a top foe – the president recently stripped him of his security clearance and had his portrait taken down at the Pentagon. 

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President Donald Trump remains adamant that his administration will engage in ‘direct’ nuclear talks with Iran on Saturday in Oman, while Tehran appears to remain equally steadfast in its insistence the negotiations will be ‘indirect.’

Middle East envoy Stever Witkoff is scheduled to travel to Oman, where he could potentially be meeting with Iranian Foreign Minister Abbas Araghchi, though the Iranian official has so far maintained the talks will be held through a third party.

While it remains unclear who will get their way regarding the format of the discussions, Iran expert and senior fellow at the Foundation for Defense of Democracies, Behnam Ben Taleblu, said this public controversy between Washington and Tehran is all a game of leverage.

‘Both sides have an incentive to either overrepresent or underrepresent what is happening,’ he told Fox News Digital. ‘These are often the negotiations before the negotiations.’ 

‘For the White House, the desire to be seen as having direct talks with the Islamic Republic is high,’ he said, pointing to the lack of direct engagement between Washington and Tehran dating back to his first term and the regime’s deep disdain for the president, as witnessed in an apparent assassination attempt. 

While the Iranian government has long held contempt for the U.S., a sentiment that has persisted for decades, Trump is ‘very different,’ Ben Taleblu said.

The security expert highlighted the 2020 assassination of top Iranian Gen. Qasem Soleimani, the crippling effect of the U.S.-sanctioned maximum-pressure campaign and Trump’s open support for the Iranian people as the major issues that have rankled the Iranian regime.

‘Trump is a very bitter pill to swallow, and I think the supreme leader of Iran once said that the shoe of Qasem Soleimani has more honor than the head of Trump,’ Ben Taleblu said. ‘Being seen as directly negotiating with someone [like that] would be making the Islamic Republic look like a supplicant. 

‘The U.S. wants to be seen as having driven Iran to the negotiating table, and the Islamic Republic does not want to be seen as being driven to the negotiating table,’ he added. 

Tehran’s chief advantage is the fact that, despite severe U.S. sanctions and geopolitical attempts to halt its development of a nuclear weapon, it has made serious gains in its enrichment of uranium to near-weapons-grade quality, as well as with its missile program, a critical component in being able to actually fire a nuclear warhead.

It also has drastically closer ties with chief U.S. adversarial superpowers like Russia and China, whose position and involvement in countering Western attempts to disarm a nuclear Iran remains an unknown at this point. 

While Iran holds significant leverage when it comes to negotiating with the Trump administration on its nuclear program, Washington has a plethora of levers it can use to either incentivize or coerce Tehran into adhering to international calls for the end of its nuclear program.

‘The U.S. actually has a heck of a lot of leverage here,’ Ben Taleblu said, pointing to not only more economic sanctions, including ‘snapback’ mechanisms under the United Nations Security Council, but also military options.

Trump last month threatened to ‘bomb’ Iran if it did not engage in nuclear talks with the U.S.

But some have questioned how long the administration will allow negotiations to persist as JCPOA-era snapback sanctions expire in October 2025.

The White House would not confirm for Fox News Digital any time restrictions it has issued to Iran, but Trump on Wednesday told reporters, ‘We have a little time, but we don’t have much time.’

‘The regime has its back against the wall,’ Ben Taleblu said. ‘A military option, given what has been happening in the Middle East since Oct. 7, 2023, is an increasingly credible option against the Islamic Republic of Iran.’

‘And the regime is engaging, now, to delay and prevent a military option from ever materializing,’ he added. ‘They are hoping to use talks with the Americans as a human shield against the Israelis.’

‘So long as you’re talking to America, the Israelis aren’t shooting at you,’ Ben Taleblu continued. 

Trump this week said that it would be Israel who would take the lead on a military strike on Iran, not the U.S., should nuclear talks fail, which again could be a negotiating tactic as Israel has already demonstrated it will not hesitate to militarily engage with Iran.

‘Pursuing wholesale disarmament of the Islamic Republic of Iran is incredibly risky, and it doesn’t have a great track record of succeeding,’ Ben Taleblu said.

The Iranian expert said the only way to actually take on the Islamic Republic would be through a ‘broader’ and ‘more holistic’ strategy that focuses not only on nuclear nonproliferation but removing the ‘Axis of Resistance,’ scaling up sanctions and having a ‘ground game’ to counter the regime through cyber, political and telecommunication strategies ‘for when Iranians go out into the street and protest again.’

‘What the Islamic Republic would always want is to have you focus on the fire and not on the arsonist, and the arsonist is quite literally a regime that has tried to kill this president,’ Ben Taleblu said.

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Over the 44 years since my release as a hostage of the Iranian regime, I have witnessed firsthand the unmet aspirations of the Iranian people and the vibrant, if often painful, struggles of the Iranian diaspora. Millions of Iranians have consistently and bravely reached for democracy, time and again defying a regime that has proven both unpopular and dangerous. 

For decades, the Voice of America’s (VOA) Persian service stood as a beacon of hope amid darkness — a trusted conduit for uncensored news and independent analysis that empowered grassroots communities.  

Whether during the Green Movement of 2009, the mass protests of 2017-18, the widespread demonstrations of 2019, or the Women Life Freedom protests of 2022 and 2023, VOA’s Persian broadcasts offered a glimpse of a future free from the tyranny of a regime desperate to cling to power and energy to women and men willing to risk life and limb by standing up for our shared values. 

Yet today, that critical lifeline has been silenced by a recent executive order. The president’s directive has taken VOA off the air — a move that undercuts not only the aspirations of millions of Iranians but also a comparatively low-cost broader effort to cast off one of the world’s leading, antagonistic, anti-American forces that funds, trains and executes attacks against Americans and American interests around the world. 

This action is emblematic of a broader retreat: earlier this year, thousands of international assistance programs were dismantled, undermining investments in global stability and the promotion of democratic values among the global grassroots. 

When VOA was on the air, it did more than inform — it challenged state propaganda and gave voice to a people yearning for change. Its silence is a setback not only for those who have long resisted an unjust regime but also for the United States, whose own security is intertwined with the stability of free and open societies. 

It’s no wonder that authoritarian states across the globe have publicly cheered for the end of VOA. Chinese state media celebrated the dismantling of VOA, with one state-owned media outlet writing, ‘The so-called beacon of freedom, VOA, has now been discarded by its own government like a dirty rag.’ Russia state TV broadcasters celebrated on air after the program’s termination, saying, ‘I’m addressing independent journalists: die, animals!’  

Countries like China, Russia and Iran know that the loss of a trusted source of global information will enhance their own propaganda machines and allow them to further spread anti-democratic values at the expense of democracies like the United States. They know that the end of VOA is ultimately a win for authoritarianism.  

Critics argue that domestic challenges should take precedence, particularly amid a faltering global economy, but the abandonment of VOA and international assistance programs surrenders influence to authoritarian forces like Supreme Leader Ayatollah Ali Khamenei and terrorist groups like the Islamic Revolutionary Guard Corps (IRGC) with their own media presence inside the Islamic Republic, not to mention their allies in Russia and China. Yielding to these enemies is not smart, strategic or in America’s interests. 

I have seen the cost of repression and the price of isolation. The Iranian regime that once held me captive continues to imprison the hopes of its citizens with an iron fist. And while the struggle for freedom remains arduous, the resilience of the Iranian people offers a clear mandate: they will not accept silence. 

For Republican policymakers, the choice is stark. Restoring a voice like VOA’s and remaining fully engaged around the world is not merely a matter of supporting international assistance; it is a strategic imperative. Re-establishing channels of free information, empowering those who dare to challenge authoritarian rule and supporting individuals and groups around the world who share our commitment to democratic values reflects our national interests and will demonstrate our commitment to standing with those who want to stand with us. 

Now is the time to write the next chapter in America’s strategic support for international assistance programs that champion freedom, human rights and the free exchange of ideas. The prospects of a free, democratic Iran — and pro-democracy efforts worldwide — depend on it. 

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House Republicans passed a key hurdle to move forward President Donald Trump’s ‘big, beautiful’ tax agenda on Thursday without the support of a single Democrat, prompting the National Republican Congressional Committee (NRCC) to launch ads against over a dozen vulnerable Democrat incumbents.

‘The National Republican Congressional Committee (NRCC) launched a paid digital advertising campaign targeting 25 vulnerable House Democrats for voting against the budget resolution, leading to higher taxes for Americans by slashing the child tax credit in half and making families pay thousands more,’ the NRCC said in a press release on Friday morning.

The paid digital ad campaign will target 25 House Democrats identified as vulnerable heading into next year’s midterms. The list of Democrats targeted includes: (CA-09) Josh Harder, (CA-13) Adam Gray, (CA-27) George Whitesides, (CA-45) Derek Tran, (CA-47) Dave Min, (FL-09) Darren Soto, (FL-23) Jared Moskowitz, (IN-01) Frank Mrvan, (ME-02) Jared Golden, (MI-08) Kristen McDonald Rivet, (NC-01) Don Davis, (NJ-09) Nellie Pou, (NM-02) Gabe Vasquez, (NV-01) Dina Titus, (NV-03) Susie Lee, (NV-04) Steven Horsford, (NY-03) Tom Suozzi, (NY-04) Laura Gillen, (NY-19) Josh Riley, (OH-09) Marcy Kaptur, (OH-13) Emilia Sykes, (TX-28) Henry Cuellar, (TX-34) Vicente Gonzalez, (VA-07) Eugene Vindman and (WA-03) Marie Gluesenkamp Perez.

‘Once again, House Democrats made their priorities crystal clear: They’re taking a wrecking ball to America’s economy and sticking the working class with higher taxes just to ram their radical agenda down the throats of all Americans,’ NRCC spokesperson Mike Marinella told Fox News Digital. 

‘Voters will consistently be reminded of this betrayal all the way through next Fall.’

The NRCC ad campaign makes the case that by voting against the resolution, Democrats are supporting raising taxes on Americans at every income level and supporting the lowering of key tax credits. 

In a statement to Fox News Digital, Democratic Congressional Campaign Committee (DCCC) spokesperson Viet Shelton said, ‘This is what happens when the same people who want to eliminate the Department of Education write political ads.’

‘If they actually read the bill, they would realize their budget takes away health care, cuts off food assistance, and raises costs to pay for massive tax breaks for the ultra-wealthy while sticking working families with the bill. The Republican budget is exhibit A of their failure to make life affordable for Americans.’

While the party in power, which clearly is the Republicans, traditionally faces serious political headwinds in the midterm elections, the NRCC chair told Fox News last month he is optimistic.

Rep. Richard Hudson, R-N.C., emphasized in an interview on Fox News’ ‘Fox and Friends’ that 13 of the 26 House Democrats they are targeting are in districts that ‘were carried by President Donald Trump in the last election.’

Hudson characterized the upcoming midterms as an ‘opportunity election for House Republicans.’

Additionally, Hudson, who is steering the House GOP’s campaign arm for a second straight cycle, added, ‘We are bullish. Republicans are on offense thanks to Donald Trump.’

The Cook Political Report unveiled its first rankings for the next midterm elections in February and listed 10 Democrat-held seats and eight Republican-controlled seats as toss-ups. 

Courtney Rice, communications director for the rival DCCC, emphasized that ‘voters will hold House Republicans accountable for failing to lower costs while fostering a culture of corruption that benefits their billionaire backers.’

‘The political environment is in Democrats’ favor heading into 2026 — and with stellar candidates who are focused on delivering for their districts, House Democrats are poised to take back the majority in 2026,’ Rice predicted.

Fox News Digital’s Paul Steinhauser and Liz Elkind contributed to this report.

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Is the stock market on the verge of crashing or has it bottomed?

In this video, Joe Rabil uses moving averages and Fibonacci retracement levels on a longer-term chart of the S&P 500 to identify support levels that could serve as potential bottoms for the current market correction.

Understand why the 2025 stock market is different from the 2022 one and explore how the market drop can impact the SPY, QQQ, DIA, and IWM.

The video premiered on April 9, 2025. Click this link to watch on Joe’s dedicated page.

Archived videos from Joe are available at this link. Send symbol requests to stocktalk@stockcharts.com; you can also submit a request in the comments section below the video on YouTube. Symbol Requests can be sent in throughout the week prior to the next show.

Tariff turmoil continues sending the stock market into a turbulent spin. Tariffs went into effect at midnight, which sent equities and bond prices lower. Then before 1:30 PM ET Wednesday, President Trump announced that China would be slapped with 125% tariffs and the reciprocal tariffs are on pause for 90 days.

This was a huge turning point for the market. Without skipping a heartbeat, buyers rushed in and accumulated equities, especially large-cap growth stocks. The S&P 500 closed higher by 9.52%, the Nasdaq was up 12.16%, and the Dow was up 7.87%. Small and mid-cap stocks also saw substantial gains. 

Wednesday’s turnaround may have been the biggest one-day point gains in history for some of the broader stock market indexes but let’s look at the charts to see a clearer picture of what’s going on with this whacky stock market. 

A View of the Broader Stock Market

From a long-term perspective, the uptrend in the S&P 500, Nasdaq, and Dow are still intact. The weekly charts of the three indexes are also encouraging. But the daily charts are not yet screaming buy signals. Let’s start with the daily chart of the Nasdaq.

FIGURE 1. DAILY CHART OF NASDAQ COMPOSITE. The index has hit the resistance of its 21-day exponential moving average and breadth indicators in the lower panels show some breadth indicators are improving but not enough to suggest a bottom in the index.Chart source: StockCharts.com. For educational purposes. 

The Nasdaq touched its 21-day exponential moving average (EMA), which could be the first resistance level for it to overcome. The three breadth indicators in the lower panels—Nasdaq Composite Bullish Percent Index (BPI), NASDAQ Advance-Decline Line, and percentage of stocks trading above the 200-day moving average of the Nasdaq—are improving slightly but they are not showing signs of bullishness. 

Wednesday’s best-performing S&P sector was Technology followed by Consumer Discretionary. Rotation into these sectors implies risk-on investing. However, since the Nasdaq’s daily trend is still down, don’t let your emotions guide your investment decisions. Look for confirming signals before entering any long positions. 

The S&P 500 daily chart is not much different (see below). The index came close to touching its 21-day EMA. If the index opens higher on Thursday, watch this EMA closely. A break above it would be a positive move but there still needs to be a series of higher highs and higher lows for an uptrend to be established. 

FIGURE 2. DAILY CHART OF THE S&P 500 INDEX. It’s worth watching the 21-day EMA in the S&P 500. If the index breaks through that level and starts showing signs of an uptrend and the market breadth indicators suggest increasing bullish participation, it may be time to think about adding positions. But, we’re far from that point. Chart source: StockCharts.com. For educational purposes.

The market breadth indicators in the lower panels are showing some signs of improvement. The percentage of stocks trading above the 200-day moving average of the S&P 500 is at 31.80, which is encouraging but you want to see it at or above 50%. Like the Nasdaq, the S&P 500 is showing no clear signs of an uptrend, so tread carefully.

Replace the symbol in either of the above charts with $INDU and you’ll see that the Dow is in a similar position as the Nasdaq and S&P 500. 

Bonds to the Rescue?

Although equities showed a lot of movement on Wednesday, don’t lose sight of the shenanigans in the bond world. The 10-year U.S. Treasury yields rose as high as 4.47% but pulled back and closed at 4.40%, which is still relatively high. The iShares 20+ Year Treasury Bond ETF (TLT) closed 3.24% higher. 

This price action in TLT is worth watching closely. Bond prices fall when yields rise and Wednesday started out with stock and bond prices falling. This is unusual since bond prices usually rise when stocks fall. There was a lot of bond selling taking place the previous night which may have been due to the unwind of the basis trade by hedge funds. Since we’re technical analysts, instead of getting into the nitty gritty details of this hedge fund strategy, let’s analyze the five-year weekly chart of TLT.

FIGURE 3. FIVE-YEAR WEEKLY CHART OF TLT. This bond ETF has been in a downward trend for the last five years. Has its time come or will it linger in the depths of the abyss for longer? Chart source: StockCharts.com. For educational purposes.

Bond prices have been trending lower over the past five years and showing no signs of a reversal. Although TLT came off its lows, it still has a long way to go before showing modest signs of an uptrend. 

The Bottom Line 

Wednesday’s big turnaround didn’t change the big picture. We’re not out of the woods yet. And there’s more excitement to look forward to — the March CPI on Thursday morning and earnings season kicks off on Friday. A note about earnings — we probably won’t see much of an impact this quarter but keep your ear open for any chatter on how tariffs will affect profitability. 


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.