Latest news with #BloombergDaybreakPodcast
Mint
3 hours ago
- Politics
- Mint
LA Clashes Escalate as Trump, Newsom Spar Over Troops
Tensions flared in Los Angeles on the third day of anti-deportation protests, as demonstrators clashed with law enforcement while President Donald Trump and California Governor Gavin Newsom exchanged blame over the unrest and responsibility for restoring order. The deployment of National Guard troops by Trump over the weekend, despite the objections of state and city officials, led to growing friction between local leaders and the administration. Newsom said he formally requested the White House rescind the 'unlawful' order and return the troops to his command, warning it would only ramp up tensions. The governor also said Sunday that he planned to sue the administration over the action. Subscribe to the Bloomberg Daybreak Podcast on Apple, Spotify and other Podcast Platforms. LA Police Chief Jim McDonnell said Sunday evening many of the earlier protests around the city had been peaceful, but that conditions deteriorated as people committing vandalism and violence replaced daytime demonstrators. 'This violence that I've seen is disgusting,' McDonnell said at a press conference. 'What we saw the first night was was bad. What we've seen subsequent to that is getting increasingly worse and more violent.' The department issued an order telling people to immediately leave the downtown area, declaring it an 'unlawful assembly.' In a series of Truth Social posts late Sunday, Trump described the unrest as an attack on immigration enforcement efforts. 'A once great American City, Los Angeles, has been invaded and occupied by illegal aliens and criminals,' he wrote. Trump called the demonstrations 'migrant riots' and said federal agencies were directed to take 'all such action necessary' to restore order and continue deportation operations. He later urged law enforcement to escalate their response, including arresting people wearing face masks and said McDonnell should bring in the troops 'right now.' Newsom urged protesters to remain peaceful, an admonition some demonstrators ignored as crowds blocked a major roadway through downtown and people set fire to several self-driving ride-hailing vehicles nearby, sending black plumes into the sky. Newsom met Sunday evening with law enforcement leaders in Los Angeles, he posted on X. 'We're here to keep the peace — not play into Trump's political games,' he wrote. According to LD officials, nearly 30 people were arrested Saturday. At least 10 arrests were made Sunday and three officers were injured. The California Highway Patrol made 17 arrests and the LD said more are likely as immigration raids continue and the violence that's already taken place is investigated. The San Francisco police also reported that on late Sunday they arrested about 60 people after protests against ICE raids broke out downtown. Federal law enforcement officials clashed briefly with a smaller group of demonstrators earlier on Sunday when a crowd gathered outside a federal building in downtown LA. The LD declared the gathering an unlawful assembly, using less than lethal munitions, like tear gas and batons to chase the crowd back. The LD said some people in the crowd threw bottles, chunks of concrete and other objects. The ICE raids are sending a sense of fear and chaos into the city, LA Mayor Karen Bass said during a press conference late Sunday afternoon, adding that people who want to protest should do so peacefully. The First Amendment grants a right to peaceful protest 'but it does not give you the right to be violent to create chaos, or to vandalize property, and that will not be tolerated,' she said. The tense demonstration follows two days of protests sparked by sweeping US immigration raids across the region. Trump directed US Northern Command to assume control of the National Guard and dispatch 2,000 soldiers to the area 'for 60 days or at the discretion of the Secretary of Defense,' the White House said in a statement. About 300 soldiers from the California National Guard's 79th Infantry Brigade Combat Team have been deployed to three locations in greater LA, according to US Northern Command. The Guard is focused on 'safety and protection of federal property and personnel,' the command said in a post on X. The 79th IBCT is primarily a combat unit, though it has previously been called up to support civilian authorities, and a unit most recently responded to the LA-area wildfires earlier this year. Defense Secretary Pete Hegseth said that Marines could be sent next if protests intensify. Newsom called Hegseth's suggestion of deploying the Marines from nearby Camp Pendleton 'deranged.' Hegseth on Sunday countered that Newsom had allowed violence to get out of hand. 'Deranged = allowing your city to burn & law enforcement to be attacked,' Hegseth said in a post on X. 'There is plenty of room for peaceful protest, but ZERO tolerance for attacking federal agents who are doing their job. The National Guard, and Marines if need be, stand with ICE.' Facing mounting pressure from the White House, ICE has ramped up arrests in recent weeks, averaging about 2,000 detentions per day nationwide — still falling short of the administration's goal of at least 3,000 daily arrests. The stepped-up enforcement is part of Trump's vow to carry out the largest deportation campaign in US history. In the LA area, ICE reported 118 arrests this week, though the agency has not released updated figures as of Sunday morning. The protests were triggered in part by federal immigration raids that swept through the city from late Friday. Demonstrators gathered outside the federal building downtown, including outside a detention center. Other protests broke out in Compton and in Paramount, south of the city, where a crowd formed near a Home Depot as raids were reportedly underway. Tensions escalated when some protesters threw objects at officers, prompting the LD to declare an unlawful assembly and order the crowd to disperse, according to local media reports. Riot police used tear gas and flash-bang grenades. US Representative Nanette Barragan, a Democrat whose district includes Paramount and other parts of Los Angeles County, accused the Trump administration of using federal troops to suppress dissent. By the time the more violent skirmishes broke out Saturday night, the original protesters had already cleared out and the 'unruly folks' had arrived, she said. 'It's going to escalate the situation,' she said Sunday on CNN's State of the Union. 'People are going to protest because they're angry about the situation. And we have to just reiterate the people to do it peacefully.' Barragan described ICE agents stopping 'anybody at a bus stop that's going to shop' and said she was warned to expect 30 days of stepped-up enforcement. Trump has repeatedly threatened to cut off federal funding to cities and states that limit cooperation with federal immigration authorities — so-called 'sanctuary' jurisdictions — including LA. California law bars local law enforcement from using resources to assist in most federal immigration actions. In response to past federal crackdowns, California Attorney General Rob Bonta has defended the state's sanctuary policies and sued the Trump administration over attempts to force local compliance, arguing that California has the right to set its own public safety priorities. In an interview with NBC News, Trump border czar Tom Homan said Newsom and Bass should be thanking the president for helping to restore order. Homan warned the leaders could face arrest if they obstruct immigration enforcement efforts. The White House said the National Guard was being deployed to protect federal personnel and property, including immigration detention centers, citing what Trump described as credible threats of violence that could obstruct enforcement efforts and 'constitute a form of rebellion' against the US government. But the legal basis for the decision could face challenges. Federal law strictly limits the deployment of federal troops within US borders. The 1878 Posse Comitatus Act, along with amendments and supporting regulations, generally bars the use of the active-duty U.S. military — the Army, Navy, Air Force and Marines — from carrying out domestic law enforcement. The law doesn't apply to state-controlled National Guard forces. With assistance from María Paula Mijares Torres, Catherine Lucey, Isabela Fleischmann, Virginia Van Natta, Kevin Whitelaw and Kara Wetzel.
Yahoo
7 hours ago
- Politics
- Yahoo
LA Clashes Escalate as Trump, Newsom Spar Over Troops
(Bloomberg) -- Tensions flared in Los Angeles on the third day of anti-deportation protests, as demonstrators clashed with law enforcement while President Donald Trump and California Governor Gavin Newsom exchanged blame over the unrest and responsibility for restoring order. Next Stop: Rancho Cucamonga! Where Public Transit Systems Are Bouncing Back Around the World Trump Said He Fired the National Portrait Gallery Director. She's Still There. US Housing Agency Vulnerable to Fraud After DOGE Cuts, Documents Warn Senator Calls for Closing Troubled ICE Detention Facility in New Mexico The arrival of National Guard troops deployed by Trump over the weekend inflamed residents protesting the sweeping deportation policies of the administration, local officials said. The unrest escalated Sunday evening, with some committing vandalism and violence, including burning cars. Subscribe to the Bloomberg Daybreak Podcast on Apple, Spotify and other Podcast Platforms. The heightened federal response over the objections of state and city officials led to growing friction between local leaders and the Trump administration. Newsom said he formally requested the White House rescind the 'unlawful' deployment and return the troops to his command, warning it would only ramp up tensions. The governor also said Sunday that he planned to sue the administration over the action. LA Police Chief Jim McDonnell said Sunday evening many of the earlier protests around the city had been peaceful, but that conditions deteriorated as people committing vandalism and violence replaced daytime demonstrators. 'This violence that I've seen is disgusting,' McDonnell said at a press conference. 'What we saw the first night was was bad. What we've seen subsequent to that is getting increasingly worse and more violent.' The department issued an order telling people to immediately leave the downtown area, declaring it an 'unlawful assembly.' In a series of Truth Social posts late Sunday, Trump described the unrest as an attack on immigration enforcement efforts. 'A once great American City, Los Angeles, has been invaded and occupied by illegal aliens and criminals,' he wrote. Trump called the demonstrations 'migrant riots' and said federal agencies were directed to take 'all such action necessary' to restore order and continue deportation operations. He later urged law enforcement to escalate their response, including arresting people wearing face masks and said McDonnell should bring in the troops 'right now.' Newsom urged protesters to remain peaceful, an admonition some demonstrators ignored as crowds blocked a major roadway through downtown and people set fire to several self-driving ride-hailing vehicles nearby, sending black plumes into the sky. Newsom met Sunday evening with law enforcement leaders in Los Angeles, he posted on X. 'We're here to keep the peace — not play into Trump's political games,' he wrote. According to LAPD officials, nearly 30 people were arrested Saturday. At least 10 arrests were made Sunday and three officers were injured. The California Highway Patrol made 17 arrests and the LAPD said more are likely as the immigration raids continue and the violence that's already taken place is investigated. The San Francisco police also reported that on late Sunday they arrested about 60 people after protests against ICE raids broke out downtown. Federal law enforcement officials clashed briefly with a smaller group of demonstrators earlier on Sunday when a crowd gathered outside a federal building in downtown LA. The LAPD declared the gathering an unlawful assembly, using less than lethal munitions, like tear gas and batons to chase the crowd back. The LAPD said some people in the crowd threw bottles, chunks of concrete and other objects. The ICE raids are sending a sense of fear and chaos into the city, LA Mayor Karen Bass said during a press conference late Sunday afternoon, adding that people who want to protest should do so peacefully. The First Amendment grants a right to peaceful protest 'but it does not give you the right to be violent to create chaos, or to vandalize property, and that will not be tolerated,' she said. National Guard The tense demonstration follows two days of protests sparked by sweeping US immigration raids across the region. Trump directed US Northern Command to assume control of the National Guard and dispatch 2,000 soldiers to the area 'for 60 days or at the discretion of the Secretary of Defense,' the White House said in a statement. About 300 soldiers from the California National Guard's 79th Infantry Brigade Combat Team have been deployed to three locations in greater LA, according to US Northern Command. The Guard is focused on 'safety and protection of federal property and personnel,' the command said in a post on X. The 79th IBCT is primarily a combat unit, though it has previously been called up to support civilian authorities, and a unit most recently responded to the LA-area wildfires earlier this year. Defense Secretary Pete Hegseth said that Marines could be sent next if protests intensify. Newsom called Hegseth's suggestion of deploying the Marines from nearby Camp Pendleton 'deranged.' Hegseth on Sunday countered that Newsom had allowed violence to get out of hand. 'Deranged = allowing your city to burn & law enforcement to be attacked,' Hegseth said in a post on X. 'There is plenty of room for peaceful protest, but ZERO tolerance for attacking federal agents who are doing their job. The National Guard, and Marines if need be, stand with ICE.' Facing mounting pressure from the White House, ICE has ramped up arrests in recent weeks, averaging about 2,000 detentions per day nationwide — still falling short of the administration's goal of at least 3,000 daily arrests. The stepped-up enforcement is part of Trump's vow to carry out the largest deportation campaign in US history. In the LA area, ICE reported 118 arrests this week, though the agency has not released updated figures as of Sunday morning. The protests were triggered in part by federal immigration raids that swept through the city from late Friday. Demonstrators gathered outside the federal building downtown, including outside a detention center. Other protests broke out in Compton and in Paramount, south of the city, where a crowd formed near a Home Depot as raids were reportedly underway. Tensions escalated when some protesters threw objects at officers, prompting the LAPD to declare an unlawful assembly and order the crowd to disperse, according to local media reports. Riot police used tear gas and flash-bang grenades. US Representative Nanette Barragan, a Democrat whose district includes Paramount and other parts of Los Angeles County, accused the Trump administration of using federal troops to suppress dissent. By the time the more violent skirmishes broke out Saturday night, the original protesters had already cleared out and the 'unruly folks' had arrived, she said. 'It's going to escalate the situation,' she said Sunday on CNN's State of the Union. 'People are going to protest because they're angry about the situation. And we have to just reiterate the people to do it peacefully.' Barragan described ICE agents stopping 'anybody at a bus stop that's going to shop' and said she was warned to expect 30 days of stepped-up enforcement. 'Form of Rebellion' Trump has repeatedly threatened to cut off federal funding to cities and states that limit cooperation with federal immigration authorities — so-called 'sanctuary' jurisdictions — including LA. California law bars local law enforcement from using resources to assist in most federal immigration actions. In response to past federal crackdowns, California Attorney General Rob Bonta has defended the state's sanctuary policies and sued the Trump administration over attempts to force local compliance, arguing that California has the right to set its own public safety priorities. In an interview with NBC News, Trump border czar Tom Homan said Newsom and Bass should be thanking the president for helping to restore order. Homan warned the leaders could face arrest if they obstruct immigration enforcement efforts. The White House said the National Guard was being deployed to protect federal personnel and property, including immigration detention centers, citing what Trump described as credible threats of violence that could obstruct enforcement efforts and 'constitute a form of rebellion' against the US government. But the legal basis for the decision could face challenges. Federal law strictly limits the deployment of federal troops within US borders. The 1878 Posse Comitatus Act, along with amendments and supporting regulations, generally bars the use of the active-duty U.S. military — the Army, Navy, Air Force and Marines — from carrying out domestic law enforcement. The law doesn't apply to state-controlled National Guard forces. --With assistance from María Paula Mijares Torres, Catherine Lucey, Isabela Fleischmann, Virginia Van Natta, Kevin Whitelaw and Kara Wetzel. (Updates with LAPD response in fifth paragraph. An earlier version was corrected to remove a video that included an erroneous description of Trump's comments on Marines.) The SEC Pinned Its Hack on a Few Hapless Day Traders. The Full Story Is Far More Troubling Cavs Owner Dan Gilbert Wants to Donate His Billions—and Walk Again Is Elon Musk's Political Capital Spent? What Does Musk-Trump Split Mean for a 'Big, Beautiful Bill'? America Cast Itself as the World's Moral Leader. Not Anymore ©2025 Bloomberg L.P.
Yahoo
5 days ago
- Business
- Yahoo
Trump Says China's Xi Is ‘Extremely Hard to Make a Deal With'
(Bloomberg) -- President Donald Trump said in a late-night social media post that Chinese leader Xi Jinping was very tough to make a deal with, raising questions about whether a fragile economic truce between the world's two largest economies will hold. Where the Wild Children's Museums Are Billionaire Steve Cohen Wants NY to Expand Taxpayer-Backed Ferry The Global Struggle to Build Safer Cars At London's New Design Museum, Visitors Get Hands-On Access LA City Council Passes Budget That Trims Police, Fire Spending China and the US are at odds on a number of issues, and have yet to confirm plans for a leader-to-leader call the White House has said it expects will happen later this week. 'I like President XI of China, always have, and always will, but he is VERY TOUGH, AND EXTREMELY HARD TO MAKE A DEAL WITH!!!' Trump posted on Truth Social at around 2:17 a.m. Washington time. 'China's principle and position of developing China-US relations is consistent,' Chinese Foreign Ministry spokesman Lin Jian said at a regular press conference on Wednesday when asked about Trump's social media post about Xi. Subscribe to the Bloomberg Daybreak Podcast on Apple, Spotify and other Podcast Platforms. The White House didn't immediately respond to a request for comment placed in overnight hours after Trump's post. Tensions between the countries are ratcheting up again after a tariff truce in May. The Trump administration in recent weeks has barred the shipping of critical jet engine parts to China, throttled Beijing's access to chip-design software and sought to slap fresh curbs on Huawei Technologies Co. chips. US officials also announced last week a plan to start revoking visas for Chinese students. Beyond strains in economic ties, geopolitical tensions are also growing. China's Foreign Ministry over the weekend protested US Defense Secretary Pete Hegseth's assertion at a gathering of military chiefs that China poses an imminent threat to Taiwan, a self-ruled island claimed by Beijing. Market reaction was muted following Trump's post on Xi, given tensions between the US and China had increased in recent days. A gauge of Chinese stocks traded in Hong Kong pared gains to 0.5%, the Bloomberg Dollar Index slipped 0.1%, while US Treasuries were steady with the 10-year yield at 4.45%. Trump expressed hope Friday he would soon speak with Xi, telling reporters in the Oval Office that China violated part of the agreement the two nations made in Geneva to cut tariff levels and reduce tensions, but that 'I'm sure that I'll speak to President Xi, and hopefully we'll work that out.' While China has yet to confirm plans for direct leader-level talks, the White House has repeatedly insisted Trump and Xi were 'likely' to speak this week. A key sticking point appears to be critical minerals. Trump administration officials have accused Beijing of continuing to choke off access to rare earth magnets, despite Washington's decision to reduce tariffs last month hinging on China lifting such controls. Read: China's Rare Earths Grip Gives Xi Leverage in US Trade Duel One complication is that the US and China appear to have different understandings of what was agreed on rare earths at last month's trade talks in Geneva, Cory Combs, head of critical mineral supply chain research at Trivium China, told Bloomberg TV. 'On the US side, it seems clear now, there was a sense that Beijing would completely remove the requirement of an approval,' Combs said. 'That was not what Beijing seems to think it agreed to.' For its part, Beijing has accused the US of unilaterally introducing new discriminatory restrictions, and vowed to retaliate if the US insists on its own way. Trump has long said that direct talks with Xi were the only way to resolve differences between the nations, but the Chinese leader has been reluctant to get on the phone with his American counterpart — preferring that advisers negotiate key issues. Another reason is the world's No. 2 economy has shown resilience to America's steepest tariff regime in a century. But while record government spending and stimulus buoyed growth in the first quarter, the manufacturing sector shrank in recent months. Home prices have continued a yearslong slump, weighing on the spending power of consumers whose wealth is tied up in property. Trump had signaled a wish to have a call with his Chinese counterpart as early as February and later said he was willing to travel to the Asian nation to meet with Xi, although no such engagement has been scheduled so far. --With assistance from Colum Murphy, Lianting Tu, Josh Wingrove, Alice Gledhill and James Hirai. (Updates with additional details on US-China tensions throughout.) YouTube Is Swallowing TV Whole, and It's Coming for the Sitcom Millions of Americans Are Obsessed With This Japanese Barbecue Sauce Is Elon Musk's Political Capital Spent? Trump Considers Deporting Migrants to Rwanda After the UK Decides Not To Mark Zuckerberg Loves MAGA Now. Will MAGA Ever Love Him Back? ©2025 Bloomberg L.P. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
22-05-2025
- Politics
- Yahoo
Two Israeli Embassy Staffers Killed in Washington Shooting
(Bloomberg) -- Two members of the Israeli embassy's staff were killed outside the Capital Jewish Museum in Washington on Wednesday night by a gunman who chanted 'Free, Free Palestine,' officials said, condemning the attack as an antisemitic hate crime. Can Frank Gehry's 'Grand LA' Make Downtown Feel Like a Neighborhood? Chicago's O'Hare Airport Seeks Up to $4.3 Billion of Muni Debt NJ Transit Makes Deal With Engineers, Ending Three-Day Strike A single suspect is in custody, Metropolitan Police Chief Pamela Smith told reporters, identifying the suspect as Elias Rodriguez, 30, of Chicago, Illinois. Israel said it's boosting security around embassies and diplomatic staff, which had already been on high alert given international outcry at the 19-month-old war in Gaza. 'I'm very worried,' Foreign Minister Gideon Sa'ar told a news conference. 'There is not one week without terror attacks or attempts at terror attacks around the world.' Subscribe to the Bloomberg Daybreak Podcast on Apple, Spotify and other Podcast Platforms. The shooting victims —Yaron Lischinsky and Sarah Milgrim — had planned to get engaged next week in Jerusalem, Israeli Ambassador Yechiel Leiter said. 'They were a beautiful couple who came to enjoy an evening in Washington's cultural center,' he said. The victims' ages were not immediately provided. There was bipartisan condemnation in the US capital. 'These horrible D.C. killings, based obviously on antisemitism, must end, NOW!' US President Donald Trump said in a statement on Truth Social. 'Hatred and Radicalism have no place in the USA. Condolences to the families of the victims. So sad that such things as this can happen!' Senate Democratic Leader Chuck Schumer said the act 'seems to be another horrific instance of antisemitism which as we know is all too rampant in our society.' Israel's President Isaac Herzog echoed those comments. 'I am devastated by the scenes in Washington,' Herzog said. 'This is a despicable act of hatred, of antisemitism.' The shooting occurred around 9 p.m. near Third Street and F Street NW, near Georgetown University's Law School and the FBI's Washington field office, according to the Metropolitan Police Department. Washington Mayor Muriel Bowser assured the public there was no ongoing threat and condemned the incident. 'This horrific incident is going to frighten a lot of people in our city and in our country, and I want to be clear that we will not tolerate this violence or hate in our city,' Bowser said. 'We're going to stand together as a community in the coming days and weeks to send a clear message that we will not tolerate antisemitism.' The FBI is assisting in the investigation to determine potential ties to terrorism or hate crimes, said Steve Jensen, assistant director in charge of the FBI's Washington Field Office. Attorney General Pam Bondi said the suspect, if charged, would be prosecuted to the fullest extent of the law. Sa'ar cast the attack as an outcome of what he deemed unfair condemnation of Israel's war tactics by foreign leaders and media reports. Such criticism has surged over UN warnings that an aid blockade is bringing Gazans to the brink of famine. Israel went to war after Hamas invaded it on Oct. 7, 2023, killing 1,200 people and abducting 250. More than 53,000 Palestinians have been killed in the conflict, according to the Hamas-run health ministry, which does not distinguish between combatants and civilians. Israel has lost more than 400 troops in Gaza combat. (Adds victims' names and Israeli foreign minister's remarks.) Why Apple Still Hasn't Cracked AI Inside the First Stargate AI Data Center Anthropic Is Trying to Win the AI Race Without Losing Its Soul Microsoft's CEO on How AI Will Remake Every Company, Including His Cartoon Network's Last Gasp ©2025 Bloomberg L.P.
Yahoo
13-05-2025
- Business
- Yahoo
Traders model bullish moves for S&P 500 with tariff tensions easing
(Bloomberg) — The reprieve in US-China trade tensions that sent stocks soaring on Monday has chart watchers anticipating fresh all-time highs for the S&P 500 Index (^GSPC). A New Central Park Amenity, Tailored to Its East Harlem Neighbors What's Behind the Rise in Serious Injuries on New York City's Streets? NYC Warns of 17% Drop in Foreign Tourists Due to Trump Policies LA Mayor Credits Trump on Fire Aid, Stays Wary on Immigration Lawsuit Challenges Trump Administration Policy on Migrant Children The gauge closed above 5,750 — its 200-day moving average — for the first time since late March. According to John Kolovos, chief technical strategist at Macro Risk Advisors, there are now no more major resistance levels left until 6,144, the record high the S&P 500 hit on February 19. So-called resistance levels occur at points where a bullish trend is expected to pause as selling surpasses buying. A break above those levels indicates a shift in sentiment. Subscribe to the Bloomberg Daybreak Podcast on Apple, Spotify and other Podcast Platforms. 'The S&P 500 (^GSPC) trading above the 200-day moving average is another indication that the trend is turning positive,' Kolovos said. 'This increases the odds that pullbacks will be met with increased demand or buying interest. It changes your strategy and sends the signal that we're done with the bear market.' Major US indexes have already erased the losses they suffered since April 2, when President Donald Trump announced sweeping levies on imports, and are within 1% from wiping out their declines this year. Investors are now seeing the easing of trade tensions between the US and China as evidence of the Trump administration tempering their aggressive tariff policies. The latest setup for the S&P 500 has changed how aggressive dip buyers could be if the stock market retreats from where it currently stands — because they expect equities to only rally further. Chart watchers are already modeling what the next bullish levels will be if the S&P 500 breaks above its all-time high. To Kolovos, it would pave the path for the index to hit 6,600. JC O'Hara, chief technical strategist at Roth Capital Partners, sees the next target being 6,450, followed by 6,645, implying a gain of more than 10% above Monday's close. Even so, if history is any guide, a move above the 200-day moving average doesn't guarantee that stocks could move higher. Nearly two-thirds of 14 S&P 500 bear markets since the World War II started with a double digit decline and recovered to within 2% or higher of the 200-day moving average — only to plunge once again around even lower levels, according to Sam Stovall, chief investment strategist at CFRA. That strengthens the case for technical analysts to continue to watch so-called support levels, at which stock indexes typically bounce as they indicate potential buying. Last week's high of 5,720 has turned into a major support level and a potential move below 5,580 would force the index to retest the 5,425 level, Kolovos said. Aggregate equity positioning is still only slightly above the bottom of its longer-run range going back to 2010, according to Deutsche Bank Securities (DB) strategist Parag Thatte. That means investors that cut their positions to stocks because of tariff-driven uncertainty would need to boost their exposure if they want to participate in a rally. Bullish trends are already shaping up across systematic funds, which follow market direction and technical indicators. Commodity trading advisors, or CTAs, are likely turning long on US equities after the market rallied through key momentum levels on Monday, JPMorgan Chase & Co.'s (JPM) Bram Kaplan wrote in a Monday note. Any upcoming short-term dip will likely be bought, not sold, said Craig Johnson, chief market technician at Piper Sandler. ''Pain trade' is now up as the sentiment has changed and the worst case scenario in form of deteriorating corporate earnings is likely not going to happen,' he said. The Recession Chatter Is Getting Louder. Watch These Metrics US Border Towns Are Being Ravaged by Canada's Furious Boycott Two Million Meat Sticks a Day Isn't Enough for Chomps' CEO Maybe AI Slop Is Killing the Internet, After All With the New York Liberty, Clara Wu Tsai Aims for the First $1 Billion Women's Sports Franchise ©2025 Bloomberg L.P. By subscribing, you are agreeing to Yahoo's Terms and Privacy Policy
