- Priscilla Presley Clears Air About Dating Elvis at 14: ‘I Never Had Sex With Him’ Rolling Stone
- Watch again: Sofia Coppola arrives in Venice to launch new movie ‘Priscilla’ The Independent
- ‘Priscilla’ movie explores Elvis and Priscilla’s relationship Deseret News
- Venice: Priscilla Presley Gets Emotional, Opens Up About Relationship With Elvis, Says ‘Priscilla’ Was “Difficult to Watch” Hollywood Reporter
- Priscilla Presley and Sofia Coppola arrive in Venice to launch new movie The Independent
- View Full Coverage on Google News
Tag Archives: Clears
James Gunn clears up Superman: Legacy confusion after Henry Cavill recasting – The Independent
- James Gunn clears up Superman: Legacy confusion after Henry Cavill recasting The Independent
- Superman: Legacy’s James Gunn Fires Back After Criticism The Movie Has Too Many Characters CinemaBlend
- James Gunn Clarifies He’s Not Making a “Young Superman Movie, Just a Superman Movie” and Fans Question, Why Replace Henry Cavill? — GeekTyrant GeekTyrant
- James Gunn Is Not Making a ‘Young Superman’ Movie Despite Recasting Henry Cavill ComingSoon.net
- Fans Pissed at James Gunn for His New Bizarre Explanation for Firing Henry Cavill Startefacts
- View Full Coverage on Google News
California clears way for driverless taxis in San Francisco – Financial Times
- California clears way for driverless taxis in San Francisco Financial Times
- California regulators approve expansion of robotaxi services in San Francisco KTVU FOX 2 San Francisco
- California regulators approve expansion of driverless robotaxi car service KTLA 5
- Commentary: Waymo and Cruise are Driven by Money, Not Safety – Streetsblog San Francisco Streetsblog San Francisco
- Teamsters Condemn CPUC for Expansion of Robotaxis in San Francisco, Undemocratic Process Catering to Big Tech International Brotherhood of Teamsters
- View Full Coverage on Google News
FDA clears Braeburn’s long-acting Brixadi to treat opioid use disorder – FiercePharma
- FDA clears Braeburn’s long-acting Brixadi to treat opioid use disorder FiercePharma
- FDA Approves Braeburn’s Brixadi Injection to Treat Moderate-to-Severe Opioid Use Disorder Pharmacy Times
- Braeburn’s BRIXADI™ (buprenorphine) Extended-Release Subcutaneous Injection (CIII) Receives FDA Approval for Moderate to Severe Opioid Use Disorder PR Newswire
- Indivior’s Opvee crosses FDA finish line, adding new overdose rescue option amid raging opioid epidemic FiercePharma
- FDA Approves Buprenorphine Injection for Opioid Use Disorder Medscape
- View Full Coverage on Google News
Ben Affleck video clears up claim he ‘argued’ with Jennifer Lopez on red carpet – The Independent
- Ben Affleck video clears up claim he ‘argued’ with Jennifer Lopez on red carpet The Independent
- Jennifer Lopez And Ben Affleck Looked Super Tense On The Red Carpet At Her New Movie’s Premiere, But Here’s What Apparently Went Down Between Them Yahoo Life
- “Showing too much?”: DCU’s Batman Ben Affleck Allegedly Had “Argument” With Jennifer Lopez Over Her Red Carpet Dress? FandomWire
- Jennifer Lopez And Ben Affleck Seemingly Argue On Red Carpet BuzzFeed
- Ben Affleck and Jennifer Lopez attend Netflix’s premiere of The Mother in Los Angeles The Independent
- View Full Coverage on Google News
FAA clears hydrogen-powered airplane for first flight at Moses Lake – The Seattle Times
- FAA clears hydrogen-powered airplane for first flight at Moses Lake The Seattle Times
- Universal Hydrogen receives FAA certification to fly 40+ passenger hydrogen electric plane Electrek
- Universal Hydrogen Completes First Taxi Tests and Is Granted Experimental Airworthiness Certificate by the Federal Aviation Administration Business Wire
- Hydrogen-fueled plane begins taxi testing in preparation for first flight in Moses Lake GeekWire
- FAA Grants Universal Hydrogen Approval To Test Fuel Cell-Powered Aircraft – FLYING Magazine FLYING
- View Full Coverage on Google News
Dow Jones Futures Due: Market Rally Clears Resistance; Tesla’s Big Transition
Dow Jones futures will open Sunday evening, along with S&P 500 futures and Nasdaq futures.
X
The stock market rally picked up steam in the past week, with strong gains, clearing key levels. The S&P 500 briefly faced resistance at the 200-day line, but moved above that key level on Friday. A large number of leading stocks flashed buy points.
Investors can be adding exposure gradually as the market rally improves. While many top stocks are now extended, Wendy’s (WEN), Exxon Mobil (XOM), Quanta Services (PWR), Celsius Holdings (CELH) and Insulet (PODD) are all actionable from early entries. Wendy’s and PWR stock have new flat bases, joining XOM stock and Insulet. CELH stock needs another week to forge a proper base.
CELH stock is on SwingTrader and the IBD 50. Celsius, Insulet and Wendy’s were the most recent three IBD Stock Of The Day selections.
Meanwhile, Tesla (TSLA) on Friday announced big price cuts in the U.S. and Europe, a week after slashing prices in China and key Asian markets.
Tesla stock closed modestly lower but rebounded solidly for the week. But the EV giant faces a painful transition as investors increasingly view Tesla as an automaker, not a tech company.
The video embedded in this article discussed the strong week for the market rally, and analyzed WEN stock, Quanta Services and Celsius.
Bitcoin Price
The Bitcoin price briefly topped $21,200 Friday night, a two-month high. The leading cryptocurrency is currently trading around $20,800. Bitcoin was trading just below $17,000 as recently as Jan. 8.
Bitcoin’s rise coincides with the stock market rally, which is showing a return to more speculative investments. That includes growth stocks, especially speculative-type plays like the ARKK ETF. Some meme stocks had a big week, notably Bed Bath & Beyond (BBBY). BBBY stock skyrocketed 179%, even though the retailer has signaled it’s heading toward bankruptcy.
Dow Jones Futures Today
Dow Jones futures open at 6 p.m. ET, along with S&P 500 futures and Nasdaq 100 futures.
U.S. stock and bond markets will be closed Monday for the Martin Luther King Jr. holiday, but other exchanges around the world will be open.
Remember that overnight action in Dow futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.
Join IBD experts as they analyze actionable stocks in the stock market rally on IBD Live
Stock Market Rally
The stock market rally had a strong week, with the major indexes closing near session highs.
The Dow Jones Industrial Average rose 2% in last week’s stock market trading. The S&P 500 index popped 2.7%. The Nasdaq composite leapt 4.8%. The small-cap Russell 2000 jumped 5.3%.
The 10-year Treasury yield fell 6 basis points to 3.51%, even with Friday’s bounce. Markets strongly expect quarter-point Fed rate hikes in February and March, but then see policymakers on hold. Falling Treasury yields and brighter economic prospects elsewhere are pressuring the dollar, providing another boost to stocks and commodities.
U.S. crude oil futures jumped 8.3% to $79.86 a barrel last week. Copper prices jumped 7.65%.
ETFs
Among growth ETFs, the Innovator IBD 50 ETF (FFTY) rallied 4.4% last week, while the Innovator IBD Breakout Opportunities ETF (BOUT) climbed 2.1%. The iShares Expanded Tech-Software Sector ETF (IGV) leapt 4.9%. The VanEck Vectors Semiconductor ETF (SMH) soared 6.7%.
Reflecting more-speculative story stocks, ARK Innovation ETF (ARKK) spiked 14.7% last week and ARK Genomics ETF (ARKG) just over 16%. TSLA stock is a major holding across Ark Invest’s ETFs. Cathie Wood’s Ark has restocked its Tesla holdings in recent days and weeks.
SPDR S&P Metals & Mining ETF (XME) bounced 6.3% last week to a seven-month high. The Global X U.S. Infrastructure Development ETF (PAVE) rolled 4.2% higher. U.S. Global Jets ETF (JETS) ascended 9.4%. SPDR S&P Homebuilders ETF (XHB) gained 4.6%, despite weak KB Home (KBH) earnings. The Energy Select SPDR ETF (XLE) edged up 0.14%, with XOM stock a major component. The Financial Select SPDR ETF (XLF) rose 2.1%. The Health Care Select Sector SPDR Fund (XLV) edged down 0.2%.
Five Best Chinese Stocks To Watch Now
Stocks In Buy Areas
Wendy’s stock staged a big upside reversal Friday, jumping 6% to 23.08 after hitting an intraday low of 21.36. WEN stock regained its 50-day line, moved above the 21-day and broke above a trendline. That offered an early entry in the new flat base. The official buy point is 23.88, according to MarketSmith analysis.
Wendy’s on Friday reported a fourth-straight quarter of accelerating sales growth, doubled its dividend and announced a $500 million buyback.
XOM stock rose 2.4% to 113.16 last week, its fifth straight weekly gain. Shares are slightly below the official 114.76 buy point, and they wouldn’t seem extended from the 50-day line with that move. But investors already could enter Exxon stock.
PWR stock jumped 6.7% to 148.50 last week, rebounding back above the 50-day line, offering an early entry. Shares also reclaimed a prior 144.41 buy point that’s no longer valid.
CELH stock popped Wednesday above the 50-day and 21-day line, breaking a downtrend, offering multiple reasons for an early entry. Shares held support at the 21-day, then peeked higher Friday. Celsius stock is actionable now after soaring 13.2% for the week.
Insulet stock rose 4.65% in the past week to 305.89, rebounding from the 21-day and 50-day lines. Shares are actionable now. But investors could wait for a break of a trendline, currently slightly above Friday’s high of 309.44.
Tesla Stock Downshifts To Auto?
Tesla stock rallied 8.3% to 122.40 last week, continuing a bounce from the Jan. 6 bear market low of 101.81. Shares edged down 0.9% Friday, well off intraday lows despite Tesla announcing sweeping price cuts in the U.S. and Europe. That came a week after Tesla slashed prices in China and key Asian markets.
The price cuts should fuel sales, especially in the U.S., with more Tesla EV variants eligible for a $7,500 tax credit. That means a huge price cut for U.S. consumers. But Tesla’s prized margins are likely to take a hit.
On Tuesday, investors will get weekly China EV registrations, which should show a big jump in Tesla sales, as well as any possible impact on rivals. But will Tesla have a lasting boost, especially in China and Europe? Orders significantly lagged deliveries in late 2022, so Tesla needs a big boost in new demand just to maintain the current delivery pace in 2023.
Already-fierce competition in China will intensify in 2023, with Tesla’s price reductions perhaps triggering a wave of margin-killing cuts. Europe is increasingly crowded, as well. Even the U.S. EV market will be more competitive in a year, with the tumble in used-car prices already a big drag on new-vehicle prices.
But setting aside Tesla’s EV sales, TSLA stock has a bigger problem. Investors increasingly view the EV giant as an automaker, not a tech company. Tesla’s current price-earnings ratio of 33 is not too steep for a tech growth company. But it’s unusually high for an automaker. Auto industry advantages and margins tend to erode relatively quickly, which may be happening to Tesla right now.
TSLA stock may deserve a high valuation for an automaker, reflecting the EV giant’s still-robust EPS and sales growth. But even so, that would suggest a much-lower valuation than it’s boasted up until recently.
General Motors (GM), Ford (F) and Chrysler-and-Fiat parent Stellantis (STLA) all have P-E ratios in the single digits. Toyota (TM) is at 10.
Tesla Vs. BYD: EV Giants Vie For Crown, But Which Is The Better Buy?
Market Rally Analysis
The stock market rally had an encouraging week, building on strong Jan. 6 gains. The major indexes rose solidly, regaining key levels. A large number of leading stocks flashed buy signals during the week, with most holding or extending gains.
The S&P 500 index moved above its 50-day moving average and came up to its 200-day line. The benchmark index hit resistance at that key level on Thursday-Friday, but ultimately powered above it.
The Dow Jones, Russell 2000 and S&P MidCap 400 are above all their moving averages and closing in on their December short-term highs.
The Nasdaq reclaimed its 50-day moving average and moved above the 11,000 level. The laggard index had been close to its bear market lows at the start of the year.
On Friday, stocks opened solidly lower, as earnings initially hit airlines, health insurers and bank stocks, Tesla price cuts slammed auto stocks and an analyst downgrade hit big defense contractors.
Even without the negative headlines, the market arguably was due for a pullback after the strong gains and with the S&P 500 at the 200-day line.
Yet the market quickly bounced back and closed higher.
Industrials, the broad housing sector, many medicals as well as some retailers and restaurants are showing strength.
Tech names are still scarce among leading stocks, though they are trying to come back. The SMH chip ETF cleared its 200-day line this past week, while the IGV software ETF and ARKK are above their 50-day average.
The S&P 500 still needs to decisively clear the 200-day line. The December highs loom large for all the main indexes.
While the stock market appears to be less concerned about the Federal Reserve, with a path toward a rate hike pause, earnings season will take center stage.
Time The Market With IBD’s ETF Market Strategy
What To Do Now
Investors can be making new buys as stocks continue to improve. But do so gradually. While the market rally has shown strength and resilience in recent days, a pullback would not be a surprise for the major indexes, key sectors or individual stocks.
Earnings season will intensify for the next few weeks, creating the potential for major swings. Exxon and Tesla stock will report within the next three weeks, along with tech giants Apple (AAPL), Microsoft (MSFT), Amazon.com (AMZN) and Google parent Alphabet (GOOGL).
So don’t get too concentrated into a particular sector, even if it’s performing well. Strive for a diversity of leading stocks.
Bulk up your watchlists. Look for stocks that are actionable, setting up, or potentially actionable if they pause or pull back. Broad strength, at least outside of tech, should offer a number of opportunities.
Read The Big Picture every day to stay in sync with the market direction and leading stocks and sectors.
Please follow Ed Carson on Twitter at @IBD_ECarson for stock market updates and more.
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Benedict’s death clears path for Pope Francis to retire of old age in future
VATICAN CITY, Jan 3 (Reuters) – Six months ago Pope Francis brushed off speculation he was about to resign due to health problems, but even if he had toyed with the idea, he faced one major obstacle: there was already another ex-pope in retirement.
The death on Saturday of Benedict, who in 2013 became the first pontiff in 600 years to step down instead of reigning for life, should make any decision to step down easier on Francis and the Church, which has struggled enough with having “two popes”, let alone three – two retired and one reigning.
It could also prompt the current pontiff to review what happens to future popes who decide to shuffle away from office because of old age rather than holding on until they die.
Francis is now 86, one year older than Benedict was when he retired. Despite needing a cane and a wheelchair, he shows no sign of slowing down. Trips are planned for Africa this month and Portugal in August.
He has made it clear that he would not hesitate to step down someday if his mental or physical health impeded him from leading the 1.3 billion-member Church.
In an interview with Reuters on July 2, he dismissed rumours of imminent resignation. “It never entered my mind,” he said, also denying rumours among diplomats that he had cancer.
The previous month, the Catholic media world and some secular outlets were caught up in a frenzy of unsubstantiated reports and frivolous tweets speculating he would be out within a few months.
But as he now approaches the 10th anniversary of his election in March, and in four years his life’s ninth decade, the chances of resignation will increase.
Church law says a pope can resign but the decision must be without outside pressure, a precaution that harkens back to the centuries when European potentates influenced the papacy.
NO LONGER UNTHINKABLE
[1/2] Pope Francis leads the Mass to mark the World Day of Peace in St. Peter’s Basilica at the Vatican, January 1, 2023. Vatican Media/Handout via REUTERS
Now that longer life spans have made papal resignations no longer unthinkable, there have been repeated calls from Church leaders to regulate the role of former pontiffs, in part because of the confusion stemming wrought by two men wearing white living in the Vatican.
Francis told a Spanish newspaper last month that he did not intend to define the juridical status of popes emeritus, although he had previously indicated privately that a Vatican department could script such rules.
Australian Cardinal George Pell, a conservative who was close to Benedict, has written that while a retired pontiff could retain the title of “pope emeritus”, he should return to being a cardinal, and be known as “Cardinal (surname), Pope Emeritus”.
Pell also said a former pontiff should not wear white, as Benedict did, telling Reuters in a 2020 interview that it was important for Catholics to be clear that “there is only one pope”.
Academics and canon lawyers at Italy’s Bologna University who have studied the issue say the Church cannot risk even the appearance of having “two heads or two kings” and have proposed a set of rules.
They say a former pope should not return to being a cardinal, as Pell proposes, but be called “Bishop Emeritus of Rome”.
Francis told Reuters in July that is precisely what he would want to be called.
In that case there might not be any need for new legislation he would then be subject to existing rules covering retired bishops.
Existing rules say bishops emeritus should “avoid every attitude and relationship that could even hint at some kind of parallel authority to that of the diocesan bishop, with damaging consequences for the pastoral life and unity of the diocesan community”.
Although he had retired, Benedict wrote, gave interviews and, unwittingly or not, became a lightning rod for opponents of Pope Francis, either for doctrinal reasons or because they were loath to relinquish the clerical privileges the new pope wanted to dismantle.
Francis told Reuters that he would not stay in the Vatican or return to his native Argentina but live modestly in a home for retired priests in the Italian capital “because it’s my diocese”. He said he would want it to be near a large church so he could spend his final days hearing confessions.
Reporting by Philip Pullella
Editing by Raissa Kasolowsky
Our Standards: The Thomson Reuters Trust Principles.
Rose Bowl agreement clears way for College Football Playoff’s 12-team expansion in 2024 and 2025
The Rose Bowl has signed an agreement with the College Football Playoff that paves the way for the event to expand to 12 teams starting in 2024, sources confirm to CBS Sports. The CFP had given the Rose Bowl until the end of the week — at the latest — to agree to terms the bowl had thus far been unwilling to accept.
With the Rose Bowl now in the fold, a formal announcement of a 12-team playoff being held in 2024 and 2025 is expected imminently. The new format was initially agreed upon by the CFP Board of Managers in September.
Though the terms of the agreement signed by the Rose Bowl are not yet known, the bowl had been demanding to play its game in its traditional time slot at 5 p.m. ET on Jan. 1 despite playoff expansion potentially affecting the bowl schedule. That time slot is considered one of the most valuable in sports television. The agreement signed by the Rose Bowl likely creates significantly more flexibility in that scheduling process.
In an expanded playoff, the games themselves are more important than the bowls that host the contests. The Rose Bowl refusing to acquiesce to a more uniform scheduling policy would have delayed expansion until 2026 after the CFP’s current contract with ESPN ends. That would have cost involved parties an estimated $450 million in added revenue, and it may have kept the Rose Bowl out of the selection process once a new contract was signed.
The Rose Bowl had proposed hosting CFP quarterfinals in 2024 and 2025 — possibly without their traditional Big Ten and Pac-12 partners — in exchange for keeping its time slot as part of the CFP’s new media rights contract starting in 2026, a source close to the situation told CBS Sports. That offer was refused.
Asked what leverage the Rose Bowl had in the process, a person involved in the CFP process simply replied, “They have none.” One CFP bowl official said early expansion would have been impossible after this weekend’s conference championship games amid the rush of bowl and playoff season.
The CFP is in the ninth year of a 12-year deal with ESPN that expires after the 2025 season. All necessary parties other than the Rose Bowl had already agreed to expand to 12 teams for the 2024 and 2025 seasons. The 10 FBS conferences, Notre Dame and the participating New Year’s Six bowls agreed on such issues as playing at campus sites, dates of games and revenue distribution for early expansion. However, the agreement to expand early needed to be unanimous.
Over the years, every BCS/CFP scheduling decision — until now — has accommodated the Rose Bowl being able to broadcast its game at its preferred time slot 5 p.m. time slot on or around New Year’s Day. The game has traditionally been scheduled to follow the Tournament of Roses of Parade. The timing was such that the sun would always set in the West over the San Gabriel Mountains during the game, thus creating one of the most iconic settings in American sports.
With the CFP ready to expand, its handlers became less tolerant of meeting the Rose Bowl’s demands. That 5 p.m. time slot will be too valuable in the future when — for the first time — the feeling is that the games are more important than the bowl sites.
“It’s the equivalent of Super Bowl Sunday,” said one industry source of the 5 p.m. time slot. “New Year’s Day is kind of like a Sunday, even if it’s not on a Sunday. Everybody is hung over from New Year’s Eve. They’re sitting back, it’s 5 o’clock. Everybody is done with what they need to do. It is the best window that there is.”
The primary reasons to expand early are to provide more playoff access to teams and score an extra $450 million per year from rightsholder ESPN so it could air the additional CFP games in 2024 and 2025. A new media rights contract will need to be signed for 2026 and beyond.
It was not clear what leverage the Rose Bowl believed it held in the negotiations. That broadcast window is valuable, and CFP stakeholders were fed up with accommodating the Rose Bowl in an arrangement that goes back almost a quarter century.
The Rose Bowl began to give up its exclusivity in 1998, the first year of the BCS. Back then, it agreed to end a continuous run of featuring the Big Ten and Pac-12 champions that dated back to 1947. In the BCS agreement, the Rose Bowl surrendered its two spots once every four years in a rotation to host the BCS Championship Game. That first occurred after the 2001 season when Miami defeated Nebraska for its last national title. Both schools at the time mentioned how they were meant to feel like outsiders after 55 consecutive years of Big Ten vs. Pac-8/10 matchups.
When the CFP began in 2014, it was assured the Rose Bowl would never host a national championship. Los Angeles was building the new SoFi Stadium, and the city of Pasadena didn’t have the means to outbid the city of L.A. SoFi will host the 2023 CFP National Championship. Meanwhile, since 2014, the Rose Bowl has hosted CFP semifinals in 2015, 2018 and 2021.
“The luster of that game goes away [if the Rose doesn’t agree],” said one bowl executive outside the CFP system. Maybe the Rose Bowl just has to give in, suck it up. It’s just who blinks first.”
On Wednesday night, the Rose Bowl blinked.
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FDA clears 1st fecal transplant treatment for gut infection
WASHINGTON (AP) — U.S. officials have approved the first pharmaceutical-grade version of the so-called fecal transplant procedures that doctors have increasingly used against hard-to-treat intestinal infections.
The Food and Drug Administration on Wednesday approved Rebyota for adults who have trouble fighting off infections with Clostridium difficile, commonly referred to as C. diff, a bacteria that causes nausea, cramping and diarrhea. The infection is particularly dangerous when it reoccurs and is linked to about 15,000 to 30,000 deaths a year.
For more than a decade, some U.S. doctors have used stool samples from healthy donors to treat the condition. The healthy bacteria from donors’ gut has been shown to help recipients fight off C. diff bacteria. The procedure has grown more common as many patients no longer respond to traditional antibiotics.
But the proliferation of stool banks and fecal transplant practitioners across the country has created regulatory headaches for the FDA, which doesn’t traditionally regulate doctors’ medical procedures. The FDA has rarely intervened, provided stool donors are carefully screened for potential infectious diseases.
The new therapy from Ferring Pharmaceuticals Inc. is manufactured at a facility in Minnesota from stool donations that are screened for dozens of infections and viruses. The therapy is delivered via the rectum by health professionals as a one-time procedure.
The FDA said it approved the treatment based on results from two studies in which 70% of patients taking Rebyota saw their symptoms resolve after eight weeks, compared with 58% of patients getting a placebo.
The new treatment is only for patients who have already taken a course of antibiotics for recurrent infection. The condition is more common in seniors and people with weakened immune systems.
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