Tag Archives: slump

Ted Lasso Season 2 Isn’t In A Slump, It’s Headed For A Breakdown

In Ted Lasso Season 2 Episode 5, “Rainbow,” the eponymous coach tries to cheer up the losing AFC Richmond team by describing the philosophy of “Rom-communism.” You have to trust, Ted tells his squad, that things will work out, like they always do in romantic comedies–maybe not the way you want, maybe not the way you expect, but they will, in fact, work out.

At the time, it struck me as a weird thing for the coach of a losing soccer club to tell his struggling team. I get what Ted was going for–it’s a philosophy of avoiding frustration and hopelessness about things outside of your control, and trusting that this, too, shall pass. For a guy whose big central tenet is “Believe,” outwardly, it’s an idea that tracks.

But something about the whole speech felt wrong, somehow. Ted’s job is to motivate players to win, and his philosophy of believing in people is an active approach, pushing them to do better, to achieve more. Rom-communism is a passive ideal, and poorly suited to a situation in which the team is struggling. “Don’t sweat the losses” is good advice–“trust that everything will handle itself,” though? That’s not coaching, that’s wishful thinking, and it seems like something that doesn’t jive with what we’ve previously seen of Ted’s personality.

In fact, a lot about Ted has felt “off” this season, and not just in its latest episode. The season has been criticized by some as hitting a “sophomore slump,” largely because there doesn’t seem to be much overarching conflict going on, and because some of the humor is weaker than in the much-loved first season. Most episodes, including “Rainbow,” seem to wrap up interpersonal conflicts with a nice bow in the space of 40 or so minutes. Despite Richmond’s struggles, everyone seems to be doing well on a personal level. The characters are happy, or getting there, and they’re helping each other, or trying to. Things at AFC Richmond seem generally pretty easygoing, outside of the constant losing.

Ted’s interactions with Dr. Sharon Fieldstone, in particular, have seemed desperate.

It’s possible that Ted Lasso really is just suffering from a downturn after a hit debut, but I don’t think that’s the case. Rather, the changes between Season 1 and Season 2–the more contained episodes, the neatly solved problems, the generally cheery cast of characters–belie the real turmoil of Season 2. That’s because the overarching conflict has been, so far, almost completely subtextual. Everyone else might be doing pretty well, but Ted is falling apart.

While we saw outward signs of Ted’s struggles in Season 1, including the difficulty of dealing with his divorce and a full-on panic attack, the signs have been much more subtle in Season 2. As mentioned above, Ted just seems a little different. It’s something that’s playing through his interactions with people, and gets highlighted in the progressively increasing desperation of his “Ted-isms.”

Good example: Ted was walking out to the pitch ahead of the game at the end of “Rainbow,” when Dr. Sharon Fieldstone called out his name as she came out of her office behind him. Ted whipped around and responded by calling back to the doctor, then just shouting random words, naming the things he could see around him–“ceiling, floor, trash can.” In the moment, it was weird. Ted throws out his folksy jokes all the time, but he knows when someone is trying to get his attention, and shouting random words back at them almost came off as rude. What’s more, it wasn’t especially funny, and part of what made Ted Lasso a standout in Season 1 was how often the unexpected, pop culture reference-laden banter from Ted stirred up laughs.

That’s an underlying thread of the season as well. While other characters have stepped up with a lot of humor–looking at you, Roy Kent–the jokes delivered by Ted have been strained. Where he dropped gags and made references as a breezy matter of relating to people in Season 1, in Season 2, the punchlines take more setup and leave less impact. Ted was funny in Season 1. In Season 2 he’s kind of annoying.

Ted’s strained jokes with Roy highlight the fact that his jokes feel a bit “off” in Season 2.

We saw that when Ted chased down Roy at his favorite kebab place in “Rainbow.” Ted pops up, and when Roy offhandedly makes a comment about the restaurant being “like my church,” Ted runs with the gag throughout the whole encounter. “Who knew transubstantiation could happen with a pita?” he jokes, a gag that only plays because of Roy’s ever-annoyed reaction, and not because of the strength of the line itself. Even Ted’s appeal to get his former player to join the coaching staff feels half-hearted.

In general, so many of Ted’s interactions this season seem forced. His jokes come hard and fast, and he’s often almost speaking too quickly to be understood. Moments like the hallway interaction with Dr. Fieldstone are strained, as if Ted is playing the role of himself, but many of his other one-liners leave the other characters bewildered, until he finally explains the punchline. Though he’s always smiling, that smile appears plastered on. There’s strain in his eyes.

It’s a testament to the talent of Jason Sudeikis that it’s possible to pick up on these subtle differences in Ted, but it is possible to pick up on them. Ted in Season 2 seems like he’s barely holding on, fighting extremely hard simply to maintain his own personality. In a real sense, it’s all he has, but being himself, exuding the Ted Lasso personality, has stopped happening naturally. His charged, hyper interaction with Fieldstone when she first appeared in the office–an amped-up version of the way he first met and endeared himself to Rebecca–wasn’t the lighthearted means of establishing friendship and common ground with someone new, but seemed fueled by desperation. A lot of the time in Season 2, Ted being Ted looks like work.

In my view, he’s struggling to cope. This is a guy whose life was torn apart in the first season, and who hasn’t really dealt with so much personal trauma before now. His family is both physically and emotionally distant, and he’s unmoored. And in a big way, his positive influence on the people around him has had a negative influence on Ted himself. More runtime each episode is dedicated to the rest of the ensemble cast, which is good–they’re great. But as in “Rainbow” or in the Christmas episode, “Carol of Bells,” we’re spending more time with everyone else and less time with Ted. When Nate has a problem in “Rainbow,” he goes to Rebecca and Keeley, who help him solve it. Ted has helped engender a community where the people around him are positive and excited to lift one another up, but we’re seeing a feedback loop where Ted has started to make himself obsolete. It furthers his isolation.

Ted has, somewhat surprisingly, seemed to miss Nate’s inner turmoil altogether.

And we’re seeing that isolation more and more. Ted’s intention during “Carol of Bells” was to spend Christmas alone, committing to several rewatches of It’s a Wonderful Life, an uplifting movie that also carries darker tones and concerns suicide. As mentioned, he seems distracted and unconcerned about Richmond’s struggles in general. He’s altogether clueless about Nate’s apprehension about Roy joining the coaching staff, and earlier in the episode, openly laughs at Nate when the younger coach suggests that he’s the “big dog” who should talk to Isaac about his attitude as captain. Ted realizes belatedly that Nate was serious, and that laughing might have hurt his feelings, and we watch Coach Beard affirm that he picked up what Nate was putting down–but Ted, ever in tune with how everyone else is feeling, missed it.

And then there’s Ted’s general aversion to therapy and seeming mistrust of Fieldstone. His interactions with her are especially tense, and she causes his mask to slip a few times–when they first meet and she shuts down his meet-and-greet please-like-me routine, and again in “Rainbow,” when he quotes the lyrics of “Under Pressure” to explain himself to her, but which sound just a little too pointed to be driving the eventual joke about stress. “I’m just terrified from knowing what this world is about,” Ted says, the ever-present smile fading a bit.

Yes, eventually, Ted will wind up in therapy with Dr. Fieldstone; it’s a plot point that’s inevitable. How he gets there, though, is an open question, and it seems like things are going to get a lot worse for Ted before they get better. His effervescent personality, his constant need to attend to and help others, and his inability to face how he really feels, even as far back as Season 1, are building to a boil.

Those things about Ted are, so far, preventing the people around him from realizing how bad things are for him. But we’re starting to see cracks in the facade. Coach Beard seems to be taking notice of what’s going on with Ted, and Dr. Fieldstone is definitely aware that something is up with him. But Ted is clearly closed off, to his friends and to his feelings, about what has happened in his life. And that’s the conflict of this season, subverting everything built up in the first. Season 2 isn’t about some big villain that Ted must use his unflinching kindness to stand against. It’s about the internal struggle of living for others, dealing with trauma, and the ways that depression can alter life in all aspects. It’s about how pain can hide behind a smile, how difficult it can be to ask for help, and how feeling like you have an inability to lift yourself out of that pain can amplify it. Ted Lasso is building to a climax, and the fact that it’s not obvious is the point–we don’t always know when someone close to us is suffering.

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Dow Jones Today, Stocks Slump As July Hiring Data Disappoints; FDA Timeline Lifts BioNTech; Paycom, DaVita Eye Breakouts

Stocks opened lower, then turned mixed Wednesday after disappointing July hiring data and as concerns rose regarding coronavirus infections and impact. Vaccine maker BioNTech rallied on FDA news. Advanced Micro Devices extended its breakout rally. Earnings news sent Paycom Software and DaVita past buy points. And on the Dow Jones today, Home Depot and UnitedHealth traded just below buy points.




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The Dow industrials sloughed off 190 points, down 0.5%, as oil prices and bond yields dived after a disappointing July hiring report from ADP. The S&P 500 shed 0.3%. The Nasdaq 100 shook off thin early loss and climbed almost 0.1%, although earnings news sent Match Group (MTCH), Kraft Heinz (KHC) and Amgen (AMGN) to the bottom of the Nasdaq 100.

IBD 50 stock Advanced Micro Devices (AMD) surged 4.7%, to the head of the Nasdaq 100, as it aimed to extend its five-day rally. The chipmaker has gained more than 20% in fewer than two weeks, triggering the eight-week hold rule.

Paycom Software (PAYC) vaulted 8.3%, leading the S&P 500. The human resources software developer reported better-than-expected sales and earnings for the second quarter, and raised its guidance. The early move sent shares past a 404.87 double-bottom base buy point.

Delta variant concerns and news reports of a possible full approval from the Food and Drug Administration sent BioNTech (BNTX) up 3.6% to lead the IBD Leaderboard list. BioNTech is in the third week of an eight-week hold rule. IBD 50 stock Moderna (MRNA) opened to a 0.9% gain Wednesday.

In some of the morning’s more dramatic moves, four-day-old Robinhood Markets (HOOD) scrambled 54% higher. The stock finished trade on Tuesday more than 41% above Thursday’s initial offering price. Biotech BeyondSpring (BYSI) spiked 153%, after reporting positive Phase 3 trial results of a lung cancer treatment.

Dow Jones Today: Boeing Test Flight Delayed

Amgen slumped 2.9%, to the bottom of the Dow Jones today, after reporting second-quarter sales and earnings that beat views. But management trimmed its full-year earnings guidance.

Boeing (BA) dropped 1.1% after further delays to a test flight of the company’s autonomous, reusable space capsule. Boeing stock is attempting to add a third week to its advance off a mid-July low.

UnitedHealth Group (UNH) added 0.2% in early trade. A 1.5% jump on Tuesday lifted shares to within 2% of a 422.63 buy point in a 12-week cup-with-handle base.

Home Depot (HD) — a stock that has benefited during periods of tighter Covid restrictions — edged a fraction lower. Home Depot stock rose 1.4% on Tuesday, ending less than 1% below a 333.55 entry, also in a 12-week cup with handle.

Econ Data: Hiring Fades In July

ADP launched the ramp-up to Friday’s July payrolls report from the Labor Department with its July National Employment Report. The report showed U.S. nonfarm private employers added 330,000 workers in July. That was less than half of June’s 692,000-job increase, and was less than half expectations for an increase of 700,000.


Join IBD experts as they analyze actionable stocks in the stock market rally on IBD Live


Oil prices and bond yields turned lower after the ADP report. West Texas Intermediate futures tumbled more than 3%, moving below $69 a barrel. The 10-year yield held dipped four basis points to 1.13%, after settling just below 1.18% on Tuesday.

IHS Markit releases its final composite purchasing managers index for July at 9:45 a.m. ET. The Institute for Supply Management reports its July services PMI at 10 a.m. And weekly petroleum inventories data are set for release from the Energy Information Administration at 10:30 a.m.

Earnings News: Donnelly, DaVita Head For Buy Points

In early earnings news, eXp World Holdings (EXPI) rocketed 28% higher. United Therapeutics (UTHR) and Landmark Infrastructure Partners (LMRK) each gained more than 11%.

Dialysis treatment leader DaVita (DVA) jumped 7.8%, scoring an early breakout past a 124.98 buy point in a double-bottom base. Investors could use a breakaway gap buying strategy, which would place an entry at 129.10.

Video game developer Activision Blizzard (ATVI) gained 2.7%. The company reported second-quarter earnings late Tuesday. Activision has been wracked by an employee walk-off and executive shake-ups tied to a lawsuit alleging widespread sexual harassment and discrimination within the company.

On the downside, in addition to Amgen on the Dow Jones today, General Motors (GM) tumbled 7.7%, despite beating its second-quarter targets, as annual per-share earnings guidance stopped short of expectations.

China Ramps Up Covid Restrictions

China’s markets took a healthy bounce on Wednesday, with the Shanghai Composite and Hong Kong’s Hang Seng index each jumping 0.9%. That put the Shanghai Composite up 2.4% for the week as it rebounds from last week’s 4.3% dive. The Hang Seng ended Wednesday up 1.8%, vs. the prior week’s 5% fall.

The positive market action came even as China on Wednesday imposed “massive travel restrictions,” with a large number of airports and rail travel canceled, according to state-run media agency Xinhua.


Stock Market ETF Strategy And How To Invest In The Current Uptrend


Widespread Covid testing regimens have also been implemented, and Beijing imposed strict entry and exit controls on Sunday. CNBC reported early Wednesday that China’s National Health Commission said it confirmed 96 Covid cases on Wednesday — the third straight day it reported 90 cases and above. Of the newly confirmed cases, 71 were locally transmitted, said the health commission.

The question of how far China will have to go to lock down the new spread of the Delta variant coronavirus comes as a broadening regulatory crackdown left China’s markets reeling. Stocks began selling off aggressively on July 23, as authorities rolled out a series of reforms that reframed regulations for education companies, food delivery operations and companies listing on exchanges outside of China.

Tech and internet stocks fell hard Tuesday, on fears that online gaming would be the next sector on which the government would focus its broadening crackdown.

Tracking Global Stock Markets

Among China gauges in the U.S. early Wednesday, the iShares MSCI China ETF (MCHI) rose 1.8%, and the Xtrackers Harvest CSI 300 China A-Shares ETF (ASHR) gained 0.9. Technology tracker KraneShares CSI China Internet ETF (KWEB) rebounded 2.9% in early trade. The ETF fell 4% on Tuesday.

In Europe on Wednesday, stocks defended narrowed gains in afternoon trade.  The CAC-40 in Paris pared back to a 0.3% advance. Frankfurt’s DAX swung 0.5% higher. London’s FTSE 100 mustered a 0.1% gain. The SPDR Portfolio Europe ETF (SPEU) added 0.5%.

IBD 50 Earnings: Roku, HubSpot, Innovative

At least a dozen IBD 50-listed companies have reported or will report earnings this week. Of the companies due to report, Roku (ROKU), HubSpot (HUBS) and Innovative Industrial Properties (IIPR) are among those near buy points.

Roku gained 0.2% in early trade, angling to avoid a fourth straight decline. The stock had dropped below its 21-day exponential moving average on Monday, finishing Tuesday about 10% below a 463.09 buy point in a cup-with-handle base. Roku reports after Wednesday’s close.

HubSpot shares were down 0.2% Wednesday, testing support at their 21-day average. HubSpot stock remains in a buy range above a 574.93 buy point in a cup base. Its pullback to the 10-week line didn’t trigger the automatic sell rule. So the breakout remains in play. The buy zone extends to 603.68. The company reports after today’s close.

Nasdaq, S&P 500, Dow Jones Today

The stock market gave the U.S. economy a vote of confidence Tuesday, with the major indexes all rebounding from short-term support. The gains came even as concerns and restrictions increased, due to what appears to be the accelerating spread of the coronavirus Delta variant in the U.S.

As a result, the S&P 500 and Nasdaq Composite closed narrowly off record highs. The Dow Jones today also opens near its record high, and back above the 35,000 level, which has acted as a cap on its progress since May.


For more detailed analysis of the current stock market and its status, study the Big Picture.


August is generally treated as a sleepy month for the market, a month in which traders take vacations before the kids head back to school. But for the past decade, August performances have been erratic. The Dow and S&P 500 have posted moves up and down of more than 1.5% in seven of the past 10 years. The Nasdaq has seen such moves in eight of the past 10 years.

IBD’s Big Picture cautions that “after rising in eight of the past nine months, a stock market pullback would not come as a surprise. For now, though, there’s no clear sign of such a pullback.” Distribution days are somewhat elevated, particularly on the S&P 500. But Tuesday’s action showed institutional buyers remained engaged. And there has not been any new distribution for the past two weeks.

The stock market’s status remains in “confirmed uptrend.”

Find Alan R. Elliott on Twitter @IBD_Aelliott

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Dow Jones Futures: Apple, Microsoft, Google, AMD Earnings In Focus; Fed Meeting To Drive Market Rally After Leaders Slump

Dow Jones futures were little changed Tuesday night, along with S&P 500 futures and Nasdaq futures. Apple stock, Microsoft (MSFT) and Google parent Alphabet (GOOGL) dominated overnight trading. The stock market rally slumped Tuesday, led by techs, as a China crackdown continued, UPS (UPS) signaled the e-commerce boom is over and the CDC recommended wearing masks indoors.




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Apple (AAPL), Microsoft and Google stock headlined a mammoth night for earnings, along with Advanced Micro Devices (AMD) and Visa (V).

The earnings crush continues Wednesday, with Shopify (SHOP) and Generac (GNRC) among those reporting before the open, and Facebook (FB) and PayPal (PYPL) among the many companies reporting late. But during Wednesday’s session investors will pay close attention to the Federal Reserve. A two-day Fed meeting ends Wednesday. Will Fed policymakers officially begin talking about tapering massive asset purchases?

The stock market rally had a down session, led by techs. The Dow Jones, S&P 500 index and Nasdaq composite closed off lows and still look healthy a day after hitting all-time intraday highs. But many leading stocks struggled.

Dow Jones Futures Today

Dow Jones futures were flat vs. fair value. S&P 500 futures tilted higher. Nasdaq 100 futures were steady. Apple, Microsoft and Google stock are all trillion-dollar stocks, along with Facebook. Apple stock, Microsoft and Visa are Dow Jones components.

Remember that overnight action in Dow futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.

Fed Meeting

The Fed meeting announcement at 2 p.m. ET on Wednesday could declare that policymakers are officially discussing reining in asset purchases down the road. Fed chief Jerome Powell, who will speak at 2:30 p.m. ET, will likely offer greater clarity. Powell said after the June meeting that that gathering was the “talking about talking about” meeting. Still, taper talk may not happen until the September Fed meeting.


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Apple Earnings

Apple earnings easily beat, with overall revenue far above estimates amid strong iPhone sales and services revenue. The company sees strong year-over-year revenue growth in the current fiscal Q4, but not as strong as in the third quarter.

Apple stock retreated 2% overnight. AAPL stock fell 1.5% to 146.77 on Tuesday, still above a prior base’s buy zone.

Apple results also are key for iPhone chipmakers such as Skyworks Solutions (SWKS), which reports Thursday and Qorvo (QRVO), due next week. SWKS stock and Qorvo stock edged lower in extended trade, not far from buy points.

Microsoft Earnings

Microsoft earnings handily topped fiscal Q4 views. Azure cloud-computing revenue grew 51%.

Microsoft and Google are cloud-computing giants, trying to catch up to industry leader Amazon Web Services.

But Microsoft stock rose a fraction, reversing from a 3% loss, after execs gave bullish guidance on the earnings call. Shares dipped 0.9% to 286.54 on Tuesday. MSFT stock is extended from prior buy points.


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Google Earnings

Google earnings crushed views on booming advertising revenue, while the cloud-computing business also topped views. Google stock popped 3% overnight. Shares retreated 1.6% to 2,638, well extended from a buy zone. Facebook stock nudged higher on Google earnings results.

AMD Earnings

AMD earnings beat views while the graphics and data-center chip maker guided higher on Q3 revenue.

AMD stock climbed 1% in extended trade. Shares gave up 0.95% on Tuesday to 91.03. AMD stock is working on a 95.54 buy point from a cup-with-handle base.

Visa Earnings

Visa earnings cleared expectations. But Visa stock fell 1% in extended action. Shares edged up 0.3% on Tuesday to 250.93, just extended from a buy zone.

Visa foreshadows Mastercard (MA), which reports Thursday morning. MA stock declined slightly overnight.

Microsoft, PayPal, Generac and Google stock are on IBD Leaderboard. PYPL stock is on SwingTrader. Microsoft stock and Google are on IBD Long-Term Leaders. Shopify stock, Facebook and Google are on the IBD 50.


Join IBD experts as they analyze actionable stocks in the stock market rally on IBD Live


Coronavirus News

Coronavirus cases worldwide reached 195.98 million. Covid-19 deaths topped 4.19 million.

Coronavirus cases in the U.S. have hit 35.34 million, with deaths above 627,000.

The Centers for Disease Control recommended that all Americans, even those that are fully vaccinated, wear masks in indoor locations in places with high Covid transmission rates. It also backed masks for K-12 schools  as the the delta variant spreads. These are only guidelines, though Los Angeles County already reinstated an indoor mask mandate earlier this week.

President Joe Biden said he may impose a vaccine mandate for all federal employees. That follows several local governments and health care facilities announcing either vaccine mandates or a choice between vaccines and frequent testing.

Stock Market Rally

The stock market rally retreated Tuesday, led by tech stocks.

The Dow Jones Industrial Average edged down 0.2% in Tuesday’s stock market trading. The S&P 500 index dipped 0.5%. The Nasdaq composite skidded 1.2%. The small-cap Russell 2000 sank 1.1%.

U.S.-listed Chinese stocks continued to sell off hard as Beijing cracks down on an array of consumer-focused companies. On Tuesday, China signaled an even-tougher line on Hong Kong as well as gaming mecca Macau.

UPS (UPS) beat views, but shipment volumes declined, suggesting the e-commerce boom is over. UPS stock sold off 7% and FedEx (FDX) 5%, while several e-commerce plays came under pressure.

More broadly, the China crackdown, UPS news and mask guidelines raise some concerns about economic growth. While growth stocks were the biggest losers Tuesday, economic concerns are not healthy for cyclical names.

Top ETFs

Among the best ETFs, the Innovator IBD 50 ETF (FFTY) lost just over 2%, while the Innovator IBD Breakout Opportunities ETF (BOUT) fell 0.7%.  The iShares Expanded Tech-Software Sector ETF (IGV) sank 1.3%, with MSFT stock a major component. The VanEck Vectors Semiconductor ETF (SMH) gave up 1.8%, with AMD stock a top holding.

SPDR S&P Metals & Mining ETF (XME) slid 0.9% and Global X U.S. Infrastructure Development ETF (PAVE) edged down 0.4%. U.S. Global Jets ETF (JETS) descended 1.3%. SPDR S&P Homebuilders ETF (XHB) dipped 0.1%. The Energy Select SPDR ETF (XLE) retreated 0.9% and the Financial Select SPDR ETF (XLF) was just below break-even.

Reflecting more-speculative story stocks, ARK Innovation ETF (ARKK) skidded 2.45% and ARK Genomics ETF (ARKG) 1.6%. ARKK tumbled below its 200-day line and tested its 50-day. ARKG already undercut its 50-day line on Monday.


Five Best Chinese Stocks To Watch Amid China Crackdowns


Market Rally Analysis

The stock market rally had a setback on Tuesday, though it couldn’t have been too surprising.

The stock market rally had been looking somewhat extended again, at least on the Nasdaq 100, while market breadth remains weak. With so many massive earnings Tuesday night and the next few days, there are plenty of reasons for the market to retreat. The intensifying China crackdown and UPS results were easy catalysts, with the CDC mask guidelines not helping sentiment.

The Nasdaq 100 no longer looks extended, at 5.1% above its 50-day line vs. 6.6% on Monday. The Nasdaq, which tested support at its 21-day line, is just 3.4% above its 50-day. The S&P 500 and Dow Jones didn’t even touch their 10-day lines.

But while the major indexes look fine, leading stocks were hard hit. A number of recent breakouts or early entries struggled or worse. Market breadth, which improved slightly for a couple days last week, has been slumping again.

If Apple stock, Microsoft, Google and other tech titans rally on earnings Wednesday and beyond, that could shore up the major indexes, but the market rally would quickly look extended again. If these big caps slump, it’s not going to be a good time for growth stocks and probably the overall market rally.

Ideally, the megacap stocks would muddle along, while breadth improves and leading stocks outperform. But such a constructive scenario seems unlikely at the peak of earnings season.


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What To Do Now

The weekend Stock Market Today column suggested that investors should be cautious about further new buys given the mix of an extended market rally, narrow breadth and a tsunami of earnings. Investors would need to make decisions about whether or not to hold stocks with earnings due.

Investors buying growth stocks on Monday likely are down on those trades. Some promising buys from last week also are under pressure. Stocks that had decent cushions suddenly may be a little harder to hold with earnings on tap.

Remember, it’s not the news, it’s the reaction to the news. Apple, Microsoft and Google all topped views, but the stocks went in different directions overnight — some have already reversed course. And they may all switch direction by Wednesday’s open or close.

Investors probably should be reducing exposure simply by cutting losers and exiting trades ahead of earnings. It’s still a good idea to be extremely selective about new buys this week, to see how peak earnings week shakes out.

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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Intel Server-Chip Woes Drag on Sales Forecast; Shares Slump

(Bloomberg) — Intel Corp. Chief Executive Officer Pat Gelsinger said the worst of a sales slump has passed and struck a bullish tone about the chipmaker’s prospects for the rest of the year and beyond. Investors are waiting to see proof that the company can regain dominance in the semiconductor industry.The key to winning them over will be Gelsinger’s ability to lure back some of the largest companies in technology — cloud giants like Amazon.com Inc. and Alphabet Inc.’s Google — whose purchases of server chips for data centers have been a main engine of Intel’s profit and growth.

While demand for Intel’s server processors — its most lucrative business — picked up in the second quarter from the first, investors fretted that the division’s 9% year-over-year decline in sales may signal a long road to recovery. Intel’s Xeon chips, some of which sell for as much as a compact car, compete for business with souped-up offerings from Advanced Micro Devices Inc., and increasingly from the internal chip-design efforts of major cloud customers, who are keen to supply their own parts.Sales to those cloud providers like Amazon’s AWS and Google dropped 20% in the recent period, Intel said on Thursday in its second-quarter earnings report. Gelsinger projected double digit-percentage sales increases for the data center business as a whole in the second half of the year, and said he expects pricing and market share to remain stable. Still, prices dropped in the June quarter because of competitive pressure, and the unit won’t match its revenue total for 2019 this year, he said.The performance of the data center unit, known internally as DCG, is a bellwether for the progress of Gelsinger’s drive to restore Intel to leadership of the industry. Gelsinger, 60, who took the helm in February, has pledged to restore Intel’s technological leadership in the semiconductor industry, following a spate of production issues that delayed some of its most advanced chips. He has outlined plans to spend heavily to expand its reach in manufacturing to pose a stronger challenge to Taiwan Semiconductor Manufacturing Co. and Samsung Electronics Co.

The company said sales in the current period will be about $18.2 billion, compared with an average analyst projection of $18.3 billion. Shares fell about 2.8% in extended trading following the announcement. They had earlier closed at $55.96 in New York, leaving them up 12% this year.In the second quarter, the company’s personal computer business slightly topped estimates, helping boost overall sales. Santa Clara, California-based Intel said sales in the period climbed 2% to $18.5 billion, exceeding average predictions for revenue of $17.8 billion. Annual sales for 2021 will exceed the company’s previous target, Intel projected.

Those numbers weren’t enough to raise optimism about Intel’s lukewarm performance against the backdrop of strong demand for semiconductors in general and widespread industry shortages, according to Edward Jones analyst Logan Purk. Investors want companies to set more ambitious targets, he said. They’re also concerned that Intel is never getting back to the 99%-plus share of the server chip market it once commanded, and will remain too dependent on PCs.“I think it boils down to PC sales driving a bulk of outperformance, which likely reverses soon,” Purk said. In data centers, he said, “it will decline over time and these hyperscalers will begin to supply themselves.”Gelsinger offered a far more upbeat outlook for personal computer sales, arguing that many households are now home to multiple devices and that a lot of older machines are due for replacement. He projected the PC market will grow again next year.A dearth of semiconductors across many parts of the electronics industry will hit bottom in the second half of this year and persist until as late as 2023, Gelsinger said, echoing comments he made last month. That’s driving his optimism about the need for Intel’s expansion into the foundry business, where Gelsinger plans to build new plants that will be open to the production of designs by other companies, even competitors. Historically, Intel has designed and produced its own chips almost exclusively.When asked about reports that he has considered trying to purchase chip manufacturer GlobalFoundries Inc. to accelerate that effort, Intel’s leader declined to comment.“At this point, we would not say that M&A is critical, but nor would we rule it out,” he told analysts on a conference call. “Our view is that industry consolidation is very likely.”

Investors and analysts have welcomed Gelsinger’s ambitious approach, while cautioning that it will take time to deliver results, and in the meantime could dent the company’s profitability. Intel on Thursday said its adjusted gross margin, or the percentage of revenue remaining after deducting the cost of production, will be 56.5% this year. For the third quarter, that measure will be 55%, narrower than analysts estimated. The company has traditionally delivered margins wider than 60%.

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248% Weekly Gains — Baby Doge Coin Continues to Rally While Most Crypto Asset Markets Slump – Markets and Prices Bitcoin News

Four days ago, the crypto community and mainstream audiences caught a whiff of a new meme-based crypto asset called baby doge. The coin got a lot more attention when Tesla’s Elon Musk tweeted about baby doge and almost immediately after the tweet, the asset’s value skyrocketed. Musk hasn’t said anything about baby doge since then, but the crypto asset has continued to climb higher in value.

Weekly Stats Show Baby Doge Outshines Most Crypto Asset Market Performances

Last week, Bitcoin.com News reported on the cryptocurrency called baby doge (BABYDOGE) after the CEO of Tesla tweeted about the coin. At that time, baby doge jumped 228.3% during a 24 hour period on July 1, and during the last few days, the digital currency continues to gather gains.

Ever since the CEO of Tesla, Elon Musk, mentioned baby doge coin (BABYDOGE) on Twitter, the crypto asset has seen mainstream media reports about it and the currency has doubled in value in four days. The picture above is a meme shared by the Twitter handle @babydogecoin which has 109,200 Twitter followers on July 5, 2021.

The following Monday morning (EDT), baby doge dropped a touch over 2% but seven-day statistics show BABYDOGE is still up 248.9%. Over the last two weeks, baby doge has captured a mammoth-sized 723% gain.

Baby doge has gathered mainstream media (MSM) attention after the Musk tweet, as many publications followed Bitcoin.com News’ lead and reported on the baby doge situation. Fool.com, a subsidiary publication owned by the Motley Fool asked: “Should You (or Anyone) Buy Baby Doge Coin?” Baby doge was also featured in articles published by newsdesks like the Indian Times, Futurism, Republic World, Benzinga, Gamerevolution, Techstory, Business Insider, Toysmatrix, and more.

Baby doge coin has rallied during the last week gathering 248% in seven days and 723% in fourteen days.

The New York Post gave the public an introduction to baby doge in an article called: “Baby Doge? What to know about the Dogecoin spinoff that Elon Musk is hyping.” Since July 1, the number of trading platforms listing baby doge has increased by three centralized exchanges after it was initially available on Pancakeswap.

The meme-based crypto asset is available on Pancakeswap, MEXC Global, XT.com, and Lbank. Pancakeswap version one shows baby doge has lots of liquidity with $71 million in 24 hour swaps and the protocol’s version two shows more than $3 million.

Top Meme Tokens Coins by Market Capitalization List Shows Other Doge-Like and Musk-Related Meme Coins on the Rise

During our last report, baby doge coin was swapping for $0.000000002014 per unit and it’s doubled since then at $0.000000004585 per BABYDOGE. Every time a baby doge transaction happens, people must pay a 10% fee but the 5% of the fee is redistributed to every baby doge holder.

The other 5% taken from the fee is added to the BABYDOGE/BNB liquidity pool hosted on Pancakeswap. According to Coingecko’s “Top Meme Tokens Coins by Market Capitalization” list, dogecoin (DOGE) hasn’t done as well as baby doge in recent times. DOGE is down 11.4% during the last seven days compared to baby doge’s 248% rise.

There are all kinds of dogecoin-like and Musk-related meme coins these days, as there’s tokens like Dogelon Mars, Polydoge, Dogefi, SHIBA BSC, and many more. Some of the dogecoin-like and Musk-related meme coins have seen double-digit gains this past week.

Now shiba inu (SHIB) is up 7.4% today and a few other DOGE-like tokens have seen decent weekly gains. A crypto-asset called dogelon mars (ELON) jumped 31% this week and another one called elon doge token (EDOGE) jumped over 20%. Baby doge doesn’t have the amount of trade volume seen by its predecessors SHIB and DOGE, but it’s rising fast. Today, dogecoin (DOGE) captures $1.3 billion in trade volume while SHIB has over $400 million.

Collective baby doge trade volume during the trailing 24 hours has been around $103 million. Baby doge coin holds the 31st position among the dozens of meme-coins listed on Coingecko’s aggregation site. Most crypto coin aggregation sites don’t say what baby doge’s market cap is today but four hundred twenty quadrillion multiplied by $0.000000004585 is approximately $1.925 billion.

What do you think about the Baby Doge project and the coin’s rise this week? Let us know what you think about this subject in the comments section below.

Tags in this story
baby doge asset, BABYDOGE, BABYDOGE/BNB, bnb, CoinGecko, Crypto Asset Market, Doge, Elon Musk, Lbank, Mainstream Attention, Markets, Meme Tokens, Memes, MEXC Global, Motley Fool, msm, New York Post, Pancakeswap, Prices, shib, SHIB and DOGE, Stats, Tesla CEO, XT.com

Image Credits: Shutterstock, Pixabay, Wiki Commons, Coingecko, twitter.com/BabyDogeCoin/status/1410539002319474691?s=20,

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.



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Yankees make decision on Aroldis Chapman, who is mired in terrible slump

If the skies hadn’t opened again Friday night in the Bronx and the Yankees weren’t rained out for the second day in a row, Aaron Boone had decided there would be no big change in the backend of his bullpen.

If the Yankees took a lead into the ninth and it was a save situation, Boone was going to sic his sick closer on the Mets. As bad as Aroldis Chapman’s been over the last three weeks, especially in his last two outings, he was going to get another shot even though his fastball command has been horrific of late.

Introducing Yankees Insider: Get exclusive news, behind-the-scenes observations and the ability to text message directly with beat writers

That’ll be the plan on Saturday, too, if the forecasted showers allow for the start of this Subway Series.

“If we have a chance to close out a game, I expect (Chapman) to be out there,” Boone said. “I do think there’s been a couple outings in the last several where he’s still been a little out of line delivery wise and that led to a couple balls and trying to find it out there in the fire.”

For now, ‘a little out of line delivery wise’ and a lot of out of line stats wise isn’t enough for Chad Green, Jonathan Loaisiga or someone else to temporarily fill in at closer.

Is this the right way to deal with Chapman, or could be a couple outings with less pressure be beneficial?

“That’s a great question,” Yankees reliever Darren O’Day said. “The save is a big stat in baseball and sometimes as a middle reliever/high-leverage guy, it’s like the seventh-, eighth-inning job is a little bit harder than the closer because the closer always has the clean inning and never has to come into a tight situation with guys on base.

“But where closers earn their money, and they get paid significantly more, is when they blow saves or they struggle. All that attention is on them. It really is a challenge. I’ve been there where (Chapman) is before. I haven’t done that in New York, but it is a challenge. It really tests your mental skills and your fortitude.

“It’s funny because we’ve all been throwing baseballs for pretty much our entire life — childhood, adolescence, adulthood — but sometimes that skill escapes you.”

It’s escaped Chapman, who has allowed 11 earned runs in 5 2/3 innings over his last eight outings after pitching to an 0.39 ERA with 43 strikeouts in 18 innings over his first 23 games.

On Wednesday night, Chapman started the ninth inning with the Yankees up 8-4 on the Los Angeles Angels, then walked the bases and allowed a game-tying grand slam. The Angels scored three more runs in the ninth off Lucas Luetge and went on to win 11-8.

Chapman blew a save in his previous outing a week earlier, allowing two ninth-inning runs facing the Kansas City Royals.

“You have to kind of go back and start from the beginning and figure out what made you good,” O’Day said. “And talk to people around you that have seen you excel and really believe in yourself.”

O’Day has no doubt Chapman will rebound soon in a big way.

“I have full confidence Aroldis is going to be back to himself here” he said. “I was talking to a friend, a player on another team about a month ago, and I said, ‘I think Aroldis Chapman might be throwing the best assortment of pitches, the best stuff I’ve ever seen in my life.’

“If you go back to 30 years ago, nobody’s throwing stuff like that. So quite possibly this could be the best stuff ever thrown in the game of baseball, and that was just a month ago. So it’s there and it’s going to come back. There’s no question. He’s a big part of our team, and I think very soon it’ll be an eight-inning ballgame for us again.”

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Dow Jones Futures: GM Leads 7 Stocks In Buy Range Amid Choppy Market Rally; Apple Stock, AMD Extend Slump

Dow Jones futures tilted lower late Tuesday, along with S&P 500 futures and Nasdaq futures. The stock market rally saw small declines for the major indexes on Tuesday, though the Nasdaq slashed intraday declines as Treasury yields reversed from pandemic highs. Leading stocks and small caps also did well.




X



Dow tech titan Apple (AAPL) and Advanced Micro Devices (AMD) continued to slump Tuesday. Apple stock is living below its 21-day and 50-day moving averages, while AMD stock is also under its 200-day average.

On the bright side, Dow Jones giants Boeing stock, Walt Disney (DIS) and Goldman Sachs (GS) have all found support at key levels in the past couple of days. Boeing (BA) and Goldman stock are actionable now. Disney stock technically is in buy range, but could use a bit more strength.

U.S. Steel (X) and DXC stock broke out Tuesday past buy points. Meanwhile, auto giants General Motors (GM) and Ford (F) also are flashing multiple buy signals after finding key support.


Stock Of The Day In Buy Range While New Entries Loom


Archegos Selling Over?

Meanwhile, Viacom stock, Discovery Communications (DISCA), Tencent Music Entertainment (TME) and Vipshop (VIPS) all bounced Tuesday. All had crashed last week, bottoming intraday Friday. TME stock, ViacomCBS (VIAC) and the others all need a long time to repair their charts, and there’s no guarantee that they won’t resume falling. But it a sign that the forced selling in Archegos Capital Management is largely over.

Boeing, DXC Technology (DXC) and GM stock are on IBD Leaderboard. TME stock is technically on Leaderboard as an earnings options play, but that option is unlikely to be exercised now. Disney stock was Tuesday’s IBD Stock Of The Day. Boeing stock was Monday’s Stock Of The Day.

Lululemon Athletica (LULU) and Chewy.com (CHWY) reported earnings late Tuesday. LULU stock fell modestly, sinking further below its 50-day line. Chewy stock jumped, but is likely to remain below that key level as well.

Dow Jones Futures Today

Dow Jones futures were 0.1% below fair value. S&P 500 futures fell 0.1% and Nasdaq 100 futures sank 0.1%.

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.


Coronavirus News

Coronavirus cases worldwide reached 128.76 million. Covid-19 deaths topped 2.81 million.

Coronavirus cases in the U.S. have hit 31.09 million, with deaths above 564,000.

Stock Market Rally

The stock market rally had slim losses on the major indexes Tuesday, while small-cap stocks bounced back. The Dow Jones Industrial Average lost 0.3% in Tuesday’s stock market trading. The S&P 500 index also dipped 0.3%. The Nasdaq composite edged down 0.1% after falling 1% intraday. The small-cap Russell 2000 rose x%.

The 10-year Treasury yield dipped 1 basis point to 1.71% after rising to 1.77% intraday, a 14-month high.

TME stock rose 4.9% and VIPS stock 8.6%. Viacom climbed 3.55% and DISCA stock 5.4%. These Chinese internet and U.S. media plays were big winners until last week, when the Archegos margin calls triggered mass liquidation sales in these stocks and more. After a near-vertical dive, these charts look terrible. Could they come back? Sure, but investors don’t know to what extent the prior runs reflected speculative bets by Archegos and others that aren’t coming back. VIAC stock and Discovery Communications in particular were starting to look like climax runs, which is not usual for slow-growth companies.

Still, if the forced selling is largely over for Archegos, that’s one uncertainty out of the way.

Growth, Sector ETFs

Among the best ETFs, the Innovator IBD 50 ETF (FFTY) rose 2.4%, while the Innovator IBD Breakout Opportunities ETF (BOUT) climbed 2.1%.  The iShares Expanded Tech-Software Sector ETF (IGV) retreated 0.6%. The VanEck Vectors Semiconductor ETF (SMH) dipped 0.4%, with AMD stock a notable holding%.

SPDR S&P Metals & Mining ETF (XME) rose 1.05% and Global X U.S. Infrastructure Development ETF (PAVE) climbed 1.3%. U.S. Global Jets ETF (JETS) popped 2.5%.

Reflecting more-speculative story stocks, ARK Innovation ETF (ARKK) reversed higher for a 2.9% gain. ARK Genomics ETF (ARKG) climbed 1.5%. Both are trying to find support above their 200-day lines but are well below their 21-day and 50-day lines, like many of their holdings.

Apple Stock, AMD

Apple stock fell 1.2% to 119.90. Apple iPhone maker Foxconn signal that chip shortages — affecting consumer electronics as well as the auto industry — could be an issue going forward. AAPL stock has lost sight of its 50-day line, has hit resistance at its 21-day exponential moving average for several weeks and is nearing its 200-day line. While Apple stock hasn’t undercut its early March lows, its relative strength line is at an eight-month low, reflecting underperformance vs. the S&P 500 index.

AMD stock sank 1.5% to 76. Shares have struggled since an early January breakout fizzled. AMD stock is well below its 50-day line while the 21-day line has been a barrier for weeks. The chip giant is now trading below its 200-day line. The RS line for AMD stock is at an eight-month low.

U.S. Steel Powers Higher

U.S. Steel rallied 8.7% to 25.63, clearing a 24.56 buy point from a cup-with-handle base. The handle was rather deep at 24%. U.S. Steel stock has now surged 38% from Thursday’s intraday low, making a pullback more likely. Also, X stock is almost a laggard in its group, with Nucor (NUE), Arcelor Mittal (MT), Ternium (TX) and others already extended.

DXC Stock Breaks Out

DXC stock jumped 9.1% to 31.14, blasting out of a consolidation with a 29.65 handle buy point. The 5% chase zone runs to 31.13, so DXC stock is technically extended by 1 cent. The RS line for DXC stock is at a 52-week high as well. Earnings have fallen for seven straight quarters, but are expected to rebound 44% in the soon-to-start fiscal 2022. Fellow IT services firm Accenture (ACN) broke out on Monday.

Dow Jones Stocks In Buy Zones

Boeing stock edged up 0.6% to 252.01. On March 10, the Dow aerospace giant broke out past a 244.18 cup-base buy point, running all the way to 278.57 on March 15. BA stock round-tripped the xx% gain but found support at its 21-day line and soon nudged back above the still-valid entry. Boeing stock is still in a buy zone and has broken a short downtrend. Investors could view the March 15 peak as the start of a high handle.

Goldman stock climbed 1.9% to 332.01. On Monday, shares of the investment bank tested support at its 10-week line, but closed well off session lows. Goldman Sachs was involved in the Archegos forced selling but reportedly has avoided significant losses. As the second test off the 10-week line, investors can buy GS stock as it rebounds. On Tuesday, Goldman stock broke a short downtrend and xxxxx 21-day line.

Disney stock advanced 0.4% to 185.53, a sliver below its 50-day and 10-week lines. DIS stock is technically still in range from a 183.50 flat-base buy point, according to MarketSmith analysis. But investors probably would like to see a solid bounce from the 10-week line before initiating a position. A solid bounce likely would send DIS stock above its 21-day and break a short downtrend. Disney stock could be starting a new base that could serve as a base-on-base formation.

GM Stock, Ford

GM stock rose 4.6% to 58.51, back above a 57.15 buy point. It’s also back above its 21-day line and breaking a short downtrend. GM stock also is only 6.3% above its 10-week line.

Ford stock climbed 2.55% to 12.47, above buy points at 12.14 and 12.25. It’s also just above its 21-day and clearing a downtrend. F stock is just 3.9% above its 10-week.

Stock Market Rally Analysis

The split stock market rally continues. The Dow Jones and S&P 500 index are still near record highs, with Tuesday’s slim losses near fueled by declines in Apple stock, Microsoft (MSFT) and other big techs.

The Nasdaq rebounded from a 1% loss to slim decline as the 10-year Treasury yield backed off fresh 14-month highs. But it’s still living below its 21-day and 50-day lines, with the former well below the latter.

The Russell 2000 rebounded, but it’s still below the 50-day line, with the 21-day about to undercut the latter.

The best news was in leading stocks. Real economy and reopening plays fared well Tuesday, with DXC Tech and U.S. Steel stock notable examples. Travel stocks did well, including Marriott (MAR). But Ubiquiti (UI) staged an ugly reversal after an impressive Monday breakout.

More importantly, is the recent positive action in leading stocks the start of a lasting uptrend or just another head fake to lure investors back in?

The split market rally has lasted for several weeks, making for a difficult trading environment. Usually, the major indexes and the Russell 2000 are all headed in the same direction. Some may lead and others lag, but an outright divergence is unusual. How will this split personality revolve itself?

The stock market rally could strengthen, with the Dow leading but the Nasdaq reclaiming key levels. Or the Nasdaq could undercut March lows, dragging everything else down. Or we could continue with head fakes up and down for the next several weeks in a sideways, choppy market.

What To Do Now

The stock market rally has given no reason to be heavily invested. Breakouts have had a tough time, with pullbacks and shakeouts almost a given. A few small positions or core long-term holdings are fine, but there’s no reason to step on the gas.

When faced with intraday or daily swings, especially to the downside, make sure to look at weekly charts to put that those moves into perspective.

And there’s nothing wrong with being in cash. But keep an eye on the stock market. It could break out of its choppy range at any point.

Continue to work on your watchlists, gathering stocks from a variety of groups and sectors.

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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Sundial Stock Rebounds Pre-Market After Thursday’s Slump

Sundial Growers Inc. (NASDAQ:SNDL) traded 10% higher at $2.62 at press time in the pre-market session on Friday.

The Cannabis company’s shares closed 19.3% lower on Thursday after hitting a 52-week high of $3.96.

Sundial remains the most-talked-about stock on the WallStreetBets community of Reddit, with a comment volume of 2,811 at press time, as per data from SwaggyStocks.

Among other cannabis stocks seeing high interest on WallStreetBets, Tilray Inc (NASDAQ:TLRY) traded 5% higher at $33.77, while Aphria Inc (NASDAQ:APHA) was up 5.75% at $17.85 per share.

Barstool Sports founder Dave Portnoy said he made a quick $50,000 on getting in and out of Sunday on Thursday.

The spillover effect of retail investor-led surges in assets is also observed in the cryptocurrency industry, with a little-known digital asset called The Graph skyrocketing 166% over a seven day period at press time.



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Fox News suffers ratings slump while staffers fret about post-Trump future

“We are lost,” a Fox News insider remarked to me recently, and there are lots of data points to back up the assertion.

Nielsen numbers for the month of January were released on Tuesday, and Fox ranked third in the three-horse cable news race for the first time since 2001. Furthermore, CNN was the No. 1 channel across all of cable.

Think about it this way: January was one of the biggest months of political news in a generation, yet Fox couldn’t capitalize. Instead of competing by promoting correspondents and putting news coverage front and center, the network prioritized ever more outrageous, ever more extreme opinion. “Tucker Carlson Tonight” essentially expanded to “Tucker Carlson Day and Night.”

That may very well prove to be Fox’s best bet from a business POV. “Win back a base audience that disdains the news by ignoring the news and affirming their views 24/7” makes sense from an economic, if not ethical, standpoint. But for the time being Fox is floundering in third place, and it’s shocking to see. The lack of editorial leadership is palpable, according to numerous sources at the network. And even in its weakened ratings state, Fox is reflecting and propelling the radicalization of the GOP…

Reporting over pontificating

Here’s how The Daily Beast’s team described Fox’s “nosedive” on Tuesday: “Signaling a seismic shift in the media landscape as defeated former president Donald Trump hibernates in strangely silent exile at Mar-a-Lago, Fox News’ two-decade-long winning streak came to an abrupt end Tuesday while rivals CNN and MSNBC claimed the No. 1 and No. 2 rankings, respectively, in all of cable television. Fox News’ embarrassing third-place showing is the continuation of a downward trend in which the right-leaning outlet lost 2020’s fourth quarter to CNN and alienated Trump-supporting loyal viewers by calling Arizona early for Joe Biden during its election-night coverage.”

Certainly, there are many reasons for these trendlines. The Fox base’s frustration in the election outcome is one. The availability of Newsmax as a Fox alternative is another. The scrambled politics of this moment, with President Biden visibly trying to work with Republicans, is yet another.

The public’s demand for news is another big reason. Between the pandemic, the transition of power, and the insurrection, many people want reporting ahead of pontificating, and CNN is built for that. Fox is not. (Just count the number of CNN bureaus versus Fox.) Fox is actively avoiding the news when producers believe bluster will rate better — on Tuesday night, for example, CNN and MSNBC showed the US Capitol ceremony for police officer Brian Sicknick while Fox stuck with Sean Hannity’s screech fest. Laura Ingraham only briefly showed the ceremony when Biden visited the Capitol to pay his respects…

Is this Trump’s fault?

President Trump helped the network in the short term — but ultimately the network hurt Trump and he wounded them too. “Never before had a network been so closely affiliated with a commander in chief,” WaPo’s Sarah Ellison and Jeremy Barr wrote Tuesday. Now Fox is experiencing “something of an identity crisis.”

Now, according to many Fox sources, Rupert Murdoch is reasserting himself at the network and is fixated on turning around the ratings. Ellison and Barr reported that Rupert “has been fielding a steady stream of callers with advice about how to handle Trump’s political posture, which is cleaving the Republican Party.”

“A work in progress”

Rupert Murdoch has gotten into the habit of replying to reporter emails on the record. It’s a habit I strongly support.

In response to WaPo, specifically the outlet’s reporting that Fox News president Jay Wallace is under scrutiny, Rupert wrote that “Lachlan, myself and Suzanne Scott have complete confidence in Jay Wallace.” His other quotes:

— “Chris Stirewalt’s leaving had nothing to do with the correct Arizona call by the Fox decision desk.”

— “The new daytime lineup is the work of Ms. Scott and [new managing editor for news] Tom Lowell, and to some extent is still a work in progress.”

The big unknowns

— Bill Keveney’s headline for USA Today asks the big Q: “CNN moves to No. 1, Fox drops in post-election ratings shake-up: Will it last?”

— What schedule changes are in store at CNN? What about MSNBC?

— Will the beginning of the Biden presidency cause a broader decline in news interest and viewership?

— Fox’s schedule revamp in January was just the beginning. What’s next?

— What do the Fox ratings trends, including a strong preference for sinister talk over straight forward news, say about the right-wing audience?

— Certain Fox narratives (think Benghazi and “Obamagate”) make viewers feel like they’re part of a campaign; what will the next campaign be?

— Newsmax has come down off its post-election highs but is still a painful thorn in Fox’s side. Will the insurgent network find ways to grow?

Newsmax segment flies off the rails

Oliver Darcy writes: “Have you seen this viral video yet? It’s what happens when a network faces massive legal exposure. On Tuesday Newsmax invited MyPillow head honcho Mike Lindell on its air for a discussion about cancel culture and Big Tech ‘censorship’ — and it ironically ended with the hosts effectively ‘canceling’ Lindell and ‘censoring’ his speech. The discussion went off the rails when Lindell started promoting discredited conspiracy theories about voting machines. Host Bob Sellers, who was clearly prepared for this possibility, jumped in and rejected the fraud allegations. But Lindell kept pushing the claims, so Sellers asked producers if they could move on: ‘Can we get out of here, please?’ I thought this was odd; at CNN, anchors are empowered to end segments rather than plea for help from the control room. Moments later, Sellers gave up and walked out of camera range, while co-anchor Heather Childers kept going with Lindell…”

>> The context: Newsmax has not been sued by Smartmatic or Dominion yet. But the legal threats from the companies have clearly spooked the network…

>> Naturally, some Newsmax fans took Lindell’s side over the network’s side…

It’s not an “all the channels” problem

Oliver Darcy writes: “Nicolle Wallace asked former Sen. Bob Corker on Tuesday whether Fox deserves responsibility for all of the disinfo surging through the Republican Party. It was a good question (and the answer is, obviously, yes) but Corker dodged by blaming ‘all of the channels’ for opinion programming. However, it must be stressed: opinion programming based on a shared set of facts and delivering outright propaganda to millions each night are two entirely different things and should not be conflated…”



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