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Stock futures climbed on Wednesday, driven by strong performances from Salesforce and Marvell Technology, following upbeat quarterly earnings. Futures tied to the Dow Jones Industrial Average rose by 215 points (0.5%), while S&P 500 futures gained 0.3%, and Nasdaq-100 futures advanced by 0.7%.

Salesforce surged 12% after reporting fiscal third-quarter revenue that exceeded expectations, showcasing robust demand in the enterprise software sector. Meanwhile, chipmaker Marvell jumped 14% after surpassing earnings estimates and providing optimistic fourth-quarter guidance, indicating resilience in the semiconductor industry.

This movement follows a mixed session on Wall Street, where the S&P 500 and Nasdaq closed with small gains, while the Dow dipped slightly. The broader market has experienced a modest start to December, contrasting with November’s robust rally, but analysts anticipate a resurgence in momentum. LPL Financial’s George Smith pointed out that December historically sees strong market performance, particularly in the latter half of the month.

However, economic data introduced some caution. ADP’s report revealed that private payrolls grew by just 146,000 in November, missing estimates of 163,000. This signals potential softness in the labor market, with investors now awaiting Friday’s November jobs report for further clarity.

S&P 500 Index Chart Analysis

Based on the provided stock chart, which appears to be a 15-minute candlestick chart for the S&P 500 Index, here’s a brief analysis:

The chart shows a clear upward trend, with higher highs and higher lows indicating bullish momentum over the analyzed period. The index has steadily climbed from a low of approximately 5,855 to a recent high of 6,053.58, suggesting strong buying interest.

Key resistance is observed near 6,050-6,053 levels, as the price has struggled to break above this zone in the most recent sessions. If the index breaches this level with strong volume, it could lead to further upward movement. Conversely, failure to break out may lead to a pullback, with potential support around the 6,000 psychological level and 5,980, where consolidation occurred previously.

The candlestick patterns show relatively small wicks, indicating limited volatility, which could imply steady market confidence. However, the bullish rally could be overextended, warranting caution for traders, especially if any negative catalysts emerge.

In summary, the short-term trend is bullish, but traders should monitor resistance levels and volume for signs of a breakout or reversal. It’s also essential to watch broader market factors, as indices are often influenced by macroeconomic data and sentiment.

The post S&P 500 climbed 0.3%, and Nasdaq-100 futures jumped 0.7% appeared first on FinanceBrokerage.

Sister Stephanie Schmidt had a hunch about what her fellow nuns would discuss over dinner at their Erie, Pennsylvania, monastery on Wednesday night.

The day before, a Republican operative in the battleground state falsely suggested to his nearly 58,000 followers on X that no one lived at the monastery and that mail ballots cast from there would be “illegal votes.” Cliff Maloney, who hired 120 people to go door-to-door across Pennsylvania urging Republican voters to return their mail ballots, wrote on X that one of those workers had “discovered” an Erie address where 53 people were registered to vote but “NO ONE lives there.”

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DULUTH, Ga. — Former Fox News host Tucker Carlson warmed up the crowd at Donald Trump’s rally here Wednesday night with a dark metaphor, bashing Vice President Kamala Harris and declaring that “dad” was coming home to mete out discipline.

“He’s pissed!” Carlson said to extended cheers. “Dad is pissed. … And when dad gets home, you know what he says? ‘You’ve been a bad girl. You’ve been a bad little girl, and you’re getting a vigorous spanking right now.’”

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CONCORD, N.H. — President Joe Biden sparked controversy Tuesday with a new attack line against former president Donald Trump, telling Democrats, “We’ve got to lock him up,” before moderating to suggest he meant figurative rather than literal incarceration.

After listing several dangers posed by a potential second Trump presidency at a Democratic Party campaign office here, Biden said: “I know this sounds bizarre. It sounds like, if I said this five years ago, you’d lock me up. We’ve got to lock him up.”

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Yelp disabled comments for a McDonald’s in Pennsylvania where former president Donald Trump manned the fry station during a weekend campaign stop, after the restaurant’s Yelp page was hit by a flurry of politicized reviews.

“Went to this McDonalds to try the new chicken big Mac and was stunned to see a convicted felon operating the drive through,” a reviewer wrote.

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Donald Trump and other GOP candidates are increasingly targeting transgender people in the election’s closing days, invoking them as boogeymen at rallies and pouring millions into advertising tying Democrats to transgender rights.

At a recent Trump rally in Reno, Nevada, the Trump campaign played a video that included Rachel Levine, the highest-ranking transgender official in the Biden administration, wishing people a happy Pride Month. The crowd booed. When the screen cut to a TikTok video of a drag queen, the crowd booed even louder.

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Donald Trump went viral with a carefully staged photo op at McDonalds, an apparent meditation about a golfing legend’s genitalia and crass insults at a charity banquet. He has dominated headlines after issuing dark threats, including deploying the military against the “enemy from within”; repeatedly declined to say he would accept the results of the election; and delivered long, roundabout speeches and an impromptu 39-minute dance session.

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Kamala Harris entered the final full month of the presidential election with an enormous financial advantage over Donald Trump, according to new federal campaign finance filings released Sunday.

The Harris campaign and its allied committees raised more than $1 billion in the third quarter, allowing her to significantly outspend the former president’s campaign on television and digital ads, voter contact efforts and staff in the final sprint to Election Day.

The Harris campaign reported raising $221.8 million in September. A pair of celebrity-studded fundraisers in Los Angeles and San Francisco that she attended on the last weekend of the month brought in about $55 million of that total, according to a campaign official who spoke on the condition of anonymity to discuss internal figures.

Trump’s campaign, by contrast, raised $62.7 million during September, less than a third of the Harris campaign’s total, according to Federal Election Commission filings Sunday. His effort ended the month with $119.7 million in cash on hand to Harris’s $187.5 million.

Harris began building a cash advantage over Trump as soon as she began seeking the nomination in late July, benefiting from a flood of small-dollar donations from Democrats who were excited that she had replaced President Joe Biden at the top of the ticket. She raised $126 million from 1.4 million donors in less than three days after Biden withdrew from the race. And a recent Post analysis of campaign spending showed that Harris is running a campaign that is about three times the size of Trump’s operation.

The vice president’s coordinated campaign raised $1 billion in less than 80 days after she entered the race, according to multiple people familiar with the sum. New reports filed on Tuesday showed that Harris’s primary fundraising vehicle for big-dollar donations, the Harris Victory Fund, brought in a staggering $633 million during the third quarter. That was more than four times as much as the $145 million that the victory fund’s GOP counterpart, the Trump 47 committee, brought in, according to reports filed last week.

Despite that huge spending edge and Harris’s sprawling ground game, her campaign has still struggled to significantly outpace Trump in key swing state polls. The vice president’s campaign has a much larger footprint than Trump’s, which relies on outside groups to help it turn out voters, and her advisers are worried about whether they will have enough money to secure victory. Harris’s advisers believe that the race remains close in all of the key swing states, and point to the high cost of targeting hard-to-reach and infrequent voters in seven very different states.

The Washington Post’s latest polling average shows Harris leading in four of the seven battleground states that are most likely to determine the election — Michigan, Pennsylvania, Wisconsin and Nevada — but only by narrow margins. Trump is leading in Arizona, North Carolina and Georgia, where Harris campaigned on Sunday as part of the Democrats’ “Souls to the Polls” push to get Black voters to cast their ballots early.

Here are some takeaways from Sunday night’s filings with the FEC.

PAC paying Trump’s legal expenses owes more than it has on hand

Save America, the leadership PAC that Trump has used to pay his legal bills and those of some of his associates, raised $1.4 million in September and spent $4 million, most of it on lawyers, demonstrating how the former president’s legal problems have continued to strain campaign resources.

The group had less than $2 million left in cash and owes nearly $5 million in legal debt.

Super PACs take in millions in the final sprint

The Make America Great Again Inc. super PAC — which has spent more than $314 million on ads on Trump’s behalf this cycle, according to the data firm Ad Impact — raised $40.7 million in September and spent almost that much over the period.

MAGA Inc. had $61 million on hand. It has primarily been funded by Timothy Mellon, the reclusive Wyoming-based businessman who is the scion of former treasury secretary and banking tycoon Andrew Mellon. Mellon has given $150 million to the group this cycle, including $25 million last month. Linda McMahon, the co-chair of Trump’s transition team and the chair of the board of the America First Policy Institute, gave another $5 million to MAGA Inc., bringing the total that she has given to the group this cycle to more than $20 million.

Mellon and several other megadonors have dominated the spending landscape for Republicans this cycle. Preserve America, another super PAC running ads on behalf of Trump and against Harris, has been almost single-handedly funded by billionaire philanthropist Miriam Adelson, the wife of the late casino magnate Sheldon Adelson. Miriam Adelson has given at least $100 million to the group. (Preserve America has aired or reserved about $113 million in ads through Election Day, according to Ad Impact).

Future Forward, the Democratic PAC that has dominated the outside spending on ads to boost Harris’s campaign this cycle, took in $104 million in September and had $70.2 million available to spend. FF PAC has outspent the MAGA Inc. super PAC on ads with more than $397 million either spent or reserved through November, according to Ad Impact. FF PAC’s September fundraising included $10 million from Facebook co-founder Dustin Moskovitz, $9.9 million from angel investor Chris Larsen, who co-founded cryptocurrency firm Ripple Labs, and $5 million from billionaire Illinois governor JB Pritzker. The Harris-aligned PAC also received more than $40 million from its affiliated nonprofit, which is not required to disclose its donors.

Reports filed last week showed that billionaire Elon Musk, one of the world’s wealthiest people, gave nearly $75 million to a political action committee he helped create. That group, called America PAC, is focused on get-out-the-vote operations in swing states including Pennsylvania, where Musk has been campaigning for the former president. In its most recent filings, America PAC reported that it has spent more than $100 million to boost Trump, with a major focus on canvassing and direct mail.

On Saturday, Musk announced that he will use a lottery to hand out $1 million each day to registered swing-state voters who sign a petition tied to his super PAC’s voter recruitment drive. Legal experts have questioned the legality of the offer, because it ties a monetary reward to voter registration status, which is prohibited under federal law.

Democrats maintain edge in congressional fundraising

The Democratic National Committee raised $98.6 million in September, once again topping the Republican National Committee, which reported taking in $37.8 million last month. The RNC said it had $69.7 million on hand at the end of September compared to the DNC’s $46.5 million.

The Democratic Congressional Campaign Committee and the National Republican Campaign Committee, which work to aid candidates for the House of Representatives, were more evenly matched. The DCCC reported $49.9 million in cash left at the end of September and the NRCC reported $48.9 million. However, the DCCC outraised the NRCC by over $11 million for the month, taking in $30.3 million to the Republicans’ $18.8 million.

Democrats have held fundraising leads in the race for the House and the Senate for much of this election cycle. Reports filed with the FEC last week showed that in 25 of the 26 most competitive races, the Democratic candidate raised more than their GOP opponent. Democratic House candidates in those 26 battlegrounds spent almost $92 million from July through September — more than twice what their GOP counterparts spent. Republican Senate candidates also trailed their Democratic opponents in fundraising in all 11 of the most competitive races.

The National Republican Senatorial Committee reported raising $30.7 million last month and had $21 million in cash left over at the end of September. The Democratic Senatorial Campaign Committee raised slightly less, bringing in $28 million, but finished the month with $37.4 million cash on hand.

The major super PACs involved in Senate races were fairly evenly matched. The Democrats’ Senate Majority PAC raised $119.1 million in the third quarter, with $108.9 million on hand. The Republicans’ Senate Leadership Fund raised $115.7 million — including $20 million from Citadel CEO Ken Griffin and $10 million from hedge fund manager Paul Singer — with $112.3 million on hand at the end of September, according to last week’s filings.

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A new report projects that the Social Security Trust Fund might run out of money within six years under a Donald Trump presidency, while Vice President Kamala Harris’s proposed policies would not meaningfully change the current trajectory.

Social Security faces a looming funding crisis in an aging country, with trustees most recently predicting that the retirement and disability program’s trust fund will become insolvent in 2035. Many of Trump’s campaign proposals would accelerate that timeline, potentially by years, said the Committee for a Responsible Federal Budget, a nonpartisan group that opposes large federal deficits.

In a report released Monday, the organization concluded that many of Trump’s proposed second-term agenda items all work in the same direction when it comes to the Social Security Trust Fund. The budget group did not produce a similar report on Harris’s policies because they would have a negligible effect measured only in weeks or months rather than years, said Marc Goldwein, CRFB’s senior policy director.

Compared to prior presidential campaigns, Goldwein said, “I can’t think of anything that would be this order of magnitude” in its detrimental effect on Social Security’s bottom line compared to the policies Trump has proposed.

Most directly, Trump has promised that no Social Security recipients should have to pay federal income taxes on their benefits. Under current law, 40 percent of beneficiaries pay taxes on some portion of their Social Security. The tax they pay on their benefits goes directly back to the trust fund, and getting rid of it could cost the program almost $1 trillion over 10 years, the report forecast.

Other Trump policies might have indirect effects. Trump’s pledge to deport millions of undocumented workers could cost the trust fund hundreds of millions of dollars, the CRFB said. Many undocumented immigrants have payroll taxes taken out of their paychecks for the Social Security Trust Fund, but never become eligible to claim benefits, so they are a net positive for the program.

Trump’s proposed high tariffs on all imports could affect the economy in several ways detrimental to Social Security’s financial health, CRFB said. If the tariffs drive high inflation as projected by Wall Street experts, Social Security will have to pay out more in benefits because of automatic cost-of-living adjustments based on inflation.

The report also pointed to Trump’s promises not to tax tip income or income earned during overtime hours. Trump has not clarified whether he means to exempt them from federal income taxes only or also from taxes that fund Social Security and Medicare. If he means the latter, that could cost Social Security $150 million to more than $1 trillion over a decade, with the likely outcome on the very high end of that range, CRFB said.

All added up, the report forecasts that Social Security under Trump would hit the point where by law it must cut benefits in 2031 or 2032. And unless Congress changes the law that triggers the automatic cuts, the size of the cut to benefits would rise, from a current projection of a 23 percent reduction for all Social Security checks to a predicted cut of about 33 percent.

Both Trump and Harris have said they aim to protect Social Security to prevent cuts if elected, but neither candidate has offered a comprehensive plan to plug the current projected gap. Stabilizing the trust fund will require either raising more money or spending less money in some way, or a combination of the two.

Trump has talked of raising more money by drilling for oil on federal lands and has claimed that undocumented immigrants receiving benefits has led to Social Security’s problems, a view rejected by experts who point out that immigrants pay more into the program than they receive.

Harris supports a plan to raise some of the money by imposing payroll taxes on income above $400,000; currently, workers stop paying Social Security taxes after their first $168,000 in annual income.

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