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With compelling economic metrics demonstrated through its new prefeasibility study, Jindalee Lithium’s McDermitt Project presents a strong case for investors to gain exposure to this critical mineral and participate in the global clean energy transition.

Overview

Jindalee Lithium (ASX:JLL,OTCQX:JNDAF) is an Australia-based pure-play US lithium company focused exclusively on its 100-percent-owned McDermitt Lithium Project, currently one of the largest lithium deposits in the US, boasting a resource of 21.5 million tons (Mt) of lithium carbonate equivalent (LCE).

Backed by a newly released (November 2024) prefeasibility study (PFS) demonstrating very compelling economics, the McDermitt Project is poised to play a crucial role in meeting North America’s growing lithium demand for the lucrative battery value chain.

As the US continues to transition to energy independence, demand for lithium is expected to exponentially increase. Jindalee’s McDermitt Project, located in southeast Oregon, is a game-changer for North American lithium supply, critical for meeting the demands of the fast-growing electric vehicle, energy storage and defense sectors.

McDermitt also stands to significantly benefit from the US government’s policies and incentives to boost domestic supply of critical resources. In fact, in a move that signifies the US government’s support of the McDermitt Lithium Project, the US Department of Energy’s Ames National Laboratory signed a Cooperative Research and Development Agreement with Jindalee’s subsidiary HiTech Minerals to develop cutting-edge extraction methods for the McDermitt Project. The Ames National Laboratory spearheads the DOE’s Critical Materials Innovation Hub.

Key milestones in the US lithium resource space also provide significant insights into the future prospects for Jindalee’s project. Lithium Americas (TSX:LAC), for instance, has received a total of US$945 million investment from General Motors, which will fund the development, construction and operation of the Thacker Pass project in Humboldt County, Nevada. In October 2024 LAC closed a $2.3 billion loan from the US Department of Energy and in April 2025 announced the Final Investment Decision for Thacker Pass following a $250 million investment from Orion Resource Partners.

Another lithium resource developer in Nevada, Australia-based Ioneer (ASX:INR) has closed a US$996 million loan guarantee from the US Department of Energy to finance the development of its flagship Rhyolite Ridge lithium-boron project.

The US government has taken further action to bolster domestic critical mineral production. On 20 March 2025, President Trump issued a significant executive order titled ‘Immediate Measures to Increase American Mineral Production’, underscoring the urgency and strategic imperative of increasing domestic supply chains for critical minerals. This order builds on previous initiatives by fast-tracking the permitting processes, prioritizing access to mineral-rich federal lands, clarifying regulatory frameworks, and mobilizing substantial financial resources – including Defense Production Act (DPA) funds – towards domestic mineral projects.

As one of the largest lithium resources in the US and situated on federal lands, Jindalee’s McDermitt Lithium Project stands to potentially benefit from these accelerated permitting processes and enhanced government support mechanisms. The clear commitment demonstrated by the US administration highlights the critical strategic advantage of domestically located mineral assets such as McDermitt, reinforcing its importance in securing robust domestic supply chains, essential for energy security

These are just a few examples of current market dynamics that point to a rapidly accelerating lithium resource development in the US.

An experienced management team, with the right blend of experience and expertise in geology, corporate administration and international finance, leads Jindalee to fully capitalize on the potential of its assets.

Company Highlights

  • Jindalee Lithium is focused on its wholly owned flagship McDermitt Lithium Project, one of the largest lithium deposits in the US.
  • McDermitt’s new prefeasibility study shows strong project economics, including a US$3.23 post-tax NPV8 based on the first 40 years of a 63 year-year mine life.
  • Jindalee is committed to strengthening the North American critical minerals supply chain by reducing US reliance on foreign lithium, thereby enhancing energy security.
  • The company’s wholly owned US subsidiary HiTech Minerals Inc, has executed a strategic Cooperative Research and Development Agreement (CRADA) with Ames National Laboratory, which leads the US Department of Energy’s (DOE) Critical Materials Innovation (CMI) Hub.
  • The company’s McDermitt deposit is sediment-hosted, an emerging style of lithium deposit with the potential to be a large scale, long-life, low-cost source of lithium.
  • Ideally positioned to benefit from US administration’s push to increased domestic mineral production via permitting reformed increased funding.
  • An experienced management team leads Jindalee towards capitalizing on the potential of its assets.

Key Project

McDermitt Lithium Project Economics

The economic metrics revealed in the PFS paint a compelling picture of the McDermitt Lithium Project’s potential:

Production Capacity: The Project is set to produce 1.8 Mt of battery-grade lithium carbonate over its first 40 years, with an annual output forecast of 47,500 tons per annum (tpa) in the initial 10 years, tapering to 44,300 tpa over the first 40 years.

Financial Metrics: The Project boasts a net present value (NPV) of US$3.23 billion at an 8 percent discount rate, with an internal rate of return (IRR) of 17.9 percent. These figures underscore the Project’s strong economic viability.

Payback Period: Investors can expect a payback period of less than five years, a relatively short timeframe for a project of this magnitude.

Break-even Price: The break-even NPV price is approximately US$14,600/t of lithium carbonate, providing a buffer against market fluctuations.

The PFS estimates a total project cost of US$3.02 billion, which includes a prudent 21 percent contingency margin. This substantial investment is balanced by impressive profitability projections, including an EBITDA margin of 66 percent generating post-tax free cash flow of US$6.6 billion during the first decade of operations. With a pre-tax net operating cashflow margin of 17 percent at current spot prices, McDermitt shows strong cash generation potential.

These financial indicators suggest that McDermitt is not only economically viable but potentially highly profitable, positioning it as an attractive prospect for investors and strategic partners alike.

Project Overview

The McDermitt Project is located in Malheur County on the Oregon-Nevada border and is approximately 35 kilometres west of the town of McDermitt. The 100-percent-owned asset covers 54.6 square kilometres of claims at the northern end of the McDermitt volcanic caldera.

The Project is characterized by its unique sedimentary lithium deposits, primarily composed of lithium-bearing clays, a geological formation that sets McDermitt apart from many other lithium projects worldwide. This sedimentary nature of the deposit offers several advantages:

  • Consistent grade distribution throughout the ore body
  • Potential for large-scale, low-cost mining operations
  • Amenability to environmentally friendly extraction methods

The lithium-rich clays at McDermitt are part of a broader geological context that includes volcanic tuffs and sedimentary rocks. This geological setting is indicative of a complex depositional history, which has resulted in the concentration of lithium in economically viable quantities.

The 2023 mineral resources estimate (MRE) for the McDermitt Project contains a combined indicated and inferred mineral resource inventory of 3 billion tons at 1,340 parts per million (ppm) lithium for a total of 21.5 Mt LCE at 1,000 ppm cut-off grade.

Project Highlights:

  • Rare Sediment-hosted Lithium Deposits: The McDermitt asset supports low-cost mining operations due to its flat-lying sediments. This type of lithium deposit is amenable to low-cost mining operations, while still producing excellent metallurgical results.
  • A 62 percent resource increase in early 2023: Compilation of the 2022 drilling results saw the estimated indicated and inferred resources at McDermitt increase to 3 billion tons at 1,340 ppm lithium, a 62 percent increase in contained lithium.
  • Fluor recommended processing route: In March 2023, US engineering group Fluor reviewed all testwork undertaken at McDermitt and recommended beneficiation and acid leaching as the optimal processing route.
  • Completion of the PFS outlines large scale, long life and low cost source of American made battery grade lithium chemicals (November 2024)

Management Team

Ian Rodger – Chief Executive Officer

Ian Rodger is a qualified mining business executive with almost 15 years of experience in various roles including as a mining engineer for Rio Tinto across two large greenfield mine developments, before successfully transitioning into mining corporate finance where he held Executive and Director positions at RFC Ambrian overseeing origination and management of numerous mandates across a range of corporate advisory roles. Rodger was the project director for Oz Minerals (ASX:OZL) where he made significant contributions to successfully define the value potential of the West Musgrave nickel/copper province through the delivery of a portfolio of growth studies. Most notably, he led technical, market and partnership development workstreams, successfully confirming value potential for producing an intermediate Nickel product for the battery value chain.

Rodger holds a Bachelor of Mining Engineering from the University of Queensland, a Masters of Mineral Economics from Curtin University and is also a graduate of the Australian Institute of Company Directors and member of the Australasian Institute of Mining and Metallurgy.

Lindsay Dudfield – Executive Director

Lindsay Dudfield is a geologist with over 40 years of experience in multi-commodity exploration, primarily within Australia. He held senior positions with the mineral divisions of Amoco and Exxon. In 1987, he became a founding director of Dalrymple Resources NL and spent the following eight years helping acquire and explore Dalrymple’s properties, leading to several greenfield discoveries. In late 1994, Lindsay joined the board of Horizon Mining NL (Jindalee Lithium’s predecessor) and has been responsible for managing Jindalee Lithium since inception. Lindsay is a member of the Australasian Institute of Mining and Metallurgy, the Australian Institute of Geoscientists, the Geological Society of Australia and the Society of Economic Geologists. He is also a non-executive director of Jindalee spin-out companies Energy Metals (ASX:EME), Dynamic Metals (ASX:DYM) and Alchemy Resources (ASX:ALY).

Wayne Zekulich – Non-executive Chair

Wayne Zekulich was appointed to the board as Chair on 1 February 2024. He holds a Bachelor of Business and is a fellow of the Institute of Chartered Accountants. Zekulich is a consultant and non-executive director who has substantial experience in advising, structuring and financing transactions in the infrastructure and resources sectors. He was previously the head of Rothschild in Perth, chief financial officer of Gindalbie Metals Limited, chief development officer of Oakajee Port and Rail and a consultant to a global investment bank. Currently, he is chair of Pantoro (ASX:PNR) and non-executive director of the Western Australian Treasury Corporation. In the not-for-profit sector, he is the past chair of the Lester Prize and is a mentor in the Kilfinan program.

Darren Wates – Non-executive Director

Darren Wates is a corporate lawyer with over 23 years of experience in equity capital markets, mergers and acquisitions, resources, project acquisitions/divestments and corporate governance gained through private practice and in-house roles in Western Australia. Wates is the founder and principal of Corpex Legal, a Perth-based legal practice providing corporate, commercial and resources related legal services, primarily to small and mid-cap ASX listed companies. In this role, he has provided consulting general counsel services to ASX listed company Neometals (ASX:NMT), having previously been employed as legal counsel of Neometals. Wates holds Bachelor’s degrees in Law and Commerce and a Graduate Diploma in Applied Finance and Investment.

Paul Brown – Non-executive Director

Paul Brown has over 23 years of experience in the mining industry, most recently with Mineral Resources (ASX:MIN) where he was chief executive – lithium, and chief executive – commodities. Brown has held senior operating roles with Leighton, HWE and Fortescue (ASX:FMG) and has a strong track record in technical leadership, project/studies management, and mine planning and management. Brown is currently CEO of Core Lithium (ASX:CXO). He holds a Master in Mine Engineering.

Brett Marsh – VP Geology and Development (US)

Brett Marsh is an AIPG certified professional geologist and a registered member of the Society for Mining, Metallurgy and Exploration (SME) with over 25 years of diverse mining and geological experience. He has worked for and held senior leadership roles for Kastan Mining, Luna Gold, Kiska Metals, Newmont, Freeport-McMoRan, Phelps Dodge, ASARCO and consulted to deliver numerous NI 43-101 technical reports. Marsh has demonstrated the ability to deliver results in culturally diverse and geographically difficult environments, such as Brazil, Peru, Chile, Democratic Republic of Congo, Ghana, Tanzania, Indonesia, Australia, and has also worked in remote areas of Alaska. He has managed all phases of the mining lifecycle including greenfield and brownfield exploration, project development (including preliminary economic assessments, pre-feasibility and feasibility), project construction, mine operations, and environmental. He successfully led multi-cultural teams to develop business processes and implementation plans for many mine development and operational projects.

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A top advisor to Defense Secretary Pete Hegseth was escorted out of the Pentagon on Tuesday and placed on administrative leave, according to a Defense Department official. 

Reuters first reported Caldwell had been placed on leave for an ‘unauthorized disclosure’ of information amid an investigation into Pentagon leaks. An official confirmed to Fox News Digital that Reuters’ reporting is accurate but declined to comment on an ongoing investigation. 

Caldwell previously worked at restraint-minded think tank Defense Priorities and Concerned Veterans for America, a group formerly led by Hegseth. A foreign policy realist, he has argued that the U.S. should dramatically reduce its footprint in Europe and pull out forces in Iraq and Syria. 

Last month, the Defense Department announced a probe into ‘recent unauthorized disclosures of national security information’ and said it planned to use polygraphs to determine the source of leaks. 

‘The use of polygraphs in the execution of this investigation will be in accordance with applicable law and policy,’ DOD Chief of Staff Joe Kasper wrote in a memo. ‘This investigation will commence immediately and culminate in a report to the Secretary of Defense.’

He wrote that ‘information identifying a party responsible for an unauthorized disclosure’ would be referred for criminal prosecution.

Caldwell did not immediately reply to a request for comment. 

Caldwell’s closeness to the defense secretary was underscored in the unintentionally leaked Signal chat on Houthi strikes, where Hegseth named him as the Pentagon point of contact for the offensive campaign. 

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President Donald Trump is seeking to combat soaring prescription drug prices in a new executive order he signed Tuesday. 

The order instructs Robert F. Kennedy Jr.’s Department of Health and Human Services (DHS) to standardize Medicare payments for prescription drugs — including those used for cancer patients — no matter where a patient receives treatment. This could lower prices for patients by as much as 60%, according to a White House fact sheet.

Likewise, the order also calls to match the Medicare payment for certain prescription drugs to the price that hospitals pay for those drugs — up to 35% lower than what the government pays to acquire those medications, the White House said. 

The order also takes steps to lower insulin prices. Specifically, the order calls for lowering insulin prices for low-income patients or those that are uninsured to as little as three cents, and injectable epinephrine to treat allergic reactions to as low as $15, coupled with a ‘small administrative fee,’ according to a White House fact sheet. 

Additionally, the order attempts to drive down states’ drug prices by ‘facilitating importation programs that could save states millions in prescription drug prices,’ as well as bolstering programs that assist states secure deals on sickle-cell medications in Medicaid, the fact sheet said. 

The order also requires DHS to seek comment on the Medicare Drug Price Negotiation Program, which the Biden administration authorized under the Inflation Reduction Act and allows Medicare to directly engage in hashing out prescription prices with drug companies. 

‘The guidance shall improve the transparency of the Medicare Drug Price Negotiation Program, prioritize the selection of prescription drugs with high costs to the Medicare program, and minimize any negative impacts of the maximum fair price on pharmaceutical innovation within the United States,’ the order said. 

Drug prices have significantly ramped up in recent years. Between January 2022 and January 2023, prescription drug prices rose more than 15% and reached an average of $590 per drug product, according to the Department of Health and Human Services. Of the 4,200 prescription drugs included on that list, 46% of the price increases exceeded the rate of inflation. 

Previous efforts under the first Trump administration to curb prescription drug prices included installing a cap on Medicaid prescription drug plans for insulin at $35. 

Meanwhile, Trump’s 145% tariffs on Chinese imports to the U.S. could mean that healthcare costs are particularly susceptible to price increases. Market research group Black Book Research found that 84% of experts predict that prices for medical treatments and drugs will rise due to the tariffs, according to a survey released in February. 

Additionally, Trump signaled Monday that tariffs on the pharmaceutical were headed down the pipeline. 

‘We don’t make our own drugs anymore,’ Trump told reporters Monday. ‘The drug companies are in Ireland, and they’re in lots of other places, China.’

Trump signed the executive order Tuesday, along with others that seek to prevent illegal immigrants from accessing Social Security benefits, and another one calling to investigate the impact of imported processed mineral on national security. 

Tuesday’s executive order comes days after the Department of Health and Human Services’ Centers for Medicare and Medicaid Services told states Thursday that the federal government would cease assistance to states to fund nonmedical services geared toward things like nutrition for those enrolled in Medicaid. 

Fox News’ Alec Schemmel contributed to this report. 

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White House aides are quietly floating a proposal within the House GOP that would raise the tax rate for people making more than $1 million to 40%, two sources familiar with discussions told Fox News Digital, to offset the cost of eliminating tips on overtime pay, tipped wages, and retirees’ Social Security.

The sources stressed the discussions were only preliminary, and the plan is one of many being talked about as congressional Republicans work on advancing President Donald Trump’s agenda via the budget reconciliation process.

Trump and his White House have not yet taken a position on the matter, but the idea is being looked at by his aides and staff on Capitol Hill.

Meanwhile House GOP leaders including Speaker Mike Johnson, R-La., have publicly opposed the idea of any tax hikes.

‘I’m not a big fan of doing that. I mean, we’re the Republican Party and we’re for tax reduction for everyone,’ Johnson said on ‘Sunday Morning Futures.’

One GOP lawmaker asked about the proposal and granted anonymity to speak candidly said they would be open to supporting it but preferred a higher starting point than $1 million.

They said the reaction was ‘mixed’ among other House Republicans. But not all House GOP lawmakers are privy to the discussions, and it’s not immediately clear how wide the proposal has been circulated.

Nevertheless, it signals that Republicans are deeply divided on how to go about enacting Trump’s tax agenda.

Extending Trump’s 2017 Tax Cuts and Jobs Act (TCJA) and enacting his newer tax proposals is a cornerstone of Republicans’ plans for the budget reconciliation process.

By lowering the Senate’s threshold for passage from 60 votes to 51, it allows the party in power to skirt opposition to pass a sweeping piece of legislation advancing its own priorities – provided the measures deal with tax, spending, or the national debt.

Extending Trump’s tax cuts is expected to cost trillions of dollars alone. But even if Republicans use a budgetary calculation to hide its cost, known as current policy baseline, they will still have to find a path forward for new policies eliminating taxes on tips, overtime pay, and retirees’ Social Security checks.

Hiking taxes on the ultra-wealthy could also serve to put Democrats in a tricky political situation in forcing them to choose between supporting Trump’s policies and opposing an idea they’ve pushed for years.

The top income tax rate is currently about 37% on $609,351 in earnings for a single person or $731,201 for married couples. 

But raising the rate for millionaires could be one way to pay for Trump’s new tax policies.

House Freedom Caucus Chairman Andy Harris, R-Md., one of the deficit hawks leading the charge to ensure new spending is paired with deep cuts elsewhere, said ‘That’s one possibility.’

‘What I’d like to do is I’d actually like to find spending reductions elsewhere in the budget, but if we can’t get enough spending reductions, we’re going to have to pay for our tax cuts,’ Harris told ‘Mornings with Maria’ last week.

‘Before the Tax Cuts and Jobs Act, the highest tax bracket was 39.6%, it was less than $1 million. Ideally, what we could do, again, if we can’t find spending reductions, we say ‘Okay, let’s restore that higher bracket, let’s set it at maybe $2 million income and above,’ to help pay for the rest of the president’s agenda.’

But Johnson’s No. 2, House Majority Leader Steve Scalise, R-La., again poured cold water on the idea Tuesday.

‘I don’t support that initiative,’ Scalise told ‘Mornings with Maria,’ though he added, ‘everything’s on the table.’

‘That’s why you hear all kind of ideas being bounced around. And if we take no action, then you’d have over 90% of Americans see a tax increase,’ Scalise warned.

Bloomberg News was first to report House Republicans’ 40% tax hike proposal.

When reached for comment, the White House pointed Fox News Digital to comments by Press Secretary Karoline Leavitt earlier on Tuesday when she said Trump had not made up his mind on another proposal to raise the corporate tax rate.

‘I’ve seen this idea proposed. I’ve heard this idea discussed. But I don’t believe the president has made a determination on whether he supports it or not,’ Leavitt said.

Fox News Digital also reached out to Johnson’s office for comment.

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The Defense Department’s (DOD) deputy chief of staff was placed on administrative leave on Tuesday, following the steps of another Pentagon official earlier in the day.

Darin Selnick, the deputy chief of staff for Defense Secretary Pete Hegseth, has been removed, a senior U.S. official confirmed to Fox News.

Selnick is under investigation for the same leak probe that saw Hegseth aide Dan Caldwell escorted out of the Pentagon by security. Both Selnick and Caldwell are on administrative leave.

According to the Pentagon’s website, Selnick is a retired Air Force officer who has worked extensively in veterans’ affairs organizations.

‘Mr. Selnick leverages his extensive government and non-government experience advocating for veterans to position Service members for productive post-separation lives from the first day they put on a uniform,’ the biography states.

Both Selnick and Caldwell worked for Concerned Veterans for America in the past, a group formerly led by Defense Secretary Pete Hegseth.

Reuters reported that Caldwell was placed on leave for an ‘unauthorized disclosure,’ as part of an investigation into leaked Pentagon documents.

The probe was announced last month, and concerned itself over ‘recent unauthorized disclosures of national security information.’ 

‘The use of polygraphs in the execution of this investigation will be in accordance with applicable law and policy,’ DOD Chief of Staff Joe Kasper wrote in a memo at the time. ‘This investigation will commence immediately and culminate in a report to the Secretary of Defense.’

An official told Politico that the leak concerned Panama Canal plans and Elon Musk’s visit to the Pentagon, among other matters.

More information about the leak is unknown, and there is currently no evidence to connect Caldwell or Selnick to that leak.

Fox News Digital’s Morgan Phillips contributed to this report.

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It’s too bad there are no cameras allowed in federal courtrooms, because I really would like to see Mark Zuckerberg testify.

He was the leadoff witness in the Federal Trade Commission’s antitrust lawsuit against Meta, and that in itself was news.

The clash is the most sweeping attempt to dismember the world’s biggest social network, and goes to the heart of how competition is defined.

Not since the government broke up AT&T more than four decades ago has a mega-corporation faced the prospect of being torn apart.

The suit was filed in the first Trump term (the president couldn’t stand Facebook at the time), aggressively pursued by Joe Biden, and now has finally come to trial in a Washington courtroom.

Trump once told me Facebook was such a threat to society that he used it as justification for flip-flopping on his effort to ban TikTok. 

But since he won a second term, Zuck, like many tech bros, has been cozying up to the new sheriff in town, including a $1-million donation to the president’s inaugural.

There are reports that when the man who runs Facebook recently met with Trump, he asked about the possibility of dropping the lawsuit. Obviously, it didn’t work.

The focus of the trial is Zuckerberg’s decision to buy Instagram and WhatsApp when they were small start-ups.

The FTC’s lead lawyer questioned Zuckerberg about a platform meant to foster ties between family and friends to a concentration on showing users interesting third-party content through its news feed.

‘It’s the case that over time, the ‘interest’ part of that has gotten built out more than the ‘friend’ part,’ Zuckerberg said. He added that ‘the ‘friend’ part has gone down quite a bit, but it’s still something we care about.’

Translation: Screw the friends. Very 2010s. We’ve moved on.

Zuckerberg spoke slowly – at least according to reporters who were there – and he was back on the hot seat yesterday. FTC lawyers pressed him on a stack of emails he had sent:  

‘We really need to get our act together quickly on this since Instagram’s growing so fast.

‘Instagram has become a large and viable competitor to us on mobile photos, which will increasingly be the future of photos.’

‘If Instagram continues to kick ass on photos, or if Google buys them, then over the next few years they could easily add pieces of their service that copy what we’re doing now.’ Which was a flop called Facebook Camera.

In yet another message, Zuck called Instagram’s growth ‘really scary,’ saying ‘we might want to consider paying a lot of money for this.’ Facebook bought Instagram for $1 billion in 2012, and two years later spent $19 billion on WhatsApp.

In an email to Tom Alison, head of Facebook, Z offered alternatives:

‘Option 1. Double down on Friending. One potentially crazy idea is to consider wiping everyone’s graphs and having them start again.’

Alison responded: ‘I’m not sure Option #1 in your proposal (Double-down on Friending) would be viable given my understanding of how vital the friend use case is to IG.’

Now we come to the fascinating part.

It’s not breaking news that Mark’s judgment can be flawed. Remember when he insisted that virtual reality would be the next big thing? 

But he argues that Meta has all kinds of rivals in the ‘entertainment’ area, such as X, TikTok and YouTube – and he easily could have added Snap, Netflix, Amazon Prime Video and HBO’s Max. It’s all about the battle for eyeballs now. There are only so many hours in the day. Mindshare is everything.

And with group chats all the rage, Meta doesn’t do well on that kind of interaction, with Instagram as a possible exception.

Now of course it’s in Zuckerberg’s self-interest to testify that he competes with anything that has a screen. But it’s not that far off the mark. Keep in mind that Meta has 4 billion active monthly users.

I sure wish we could see the embattled CEO making the case that he’s awash in a vast sea of rivals. 

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Hertz is notifying customers that a data hack late last year may have exposed their personal data.

The rental-car giant said an analysis of the incident that it completed on April 2 found the breach affected some customers’ birthdates, credit card and driver’s license data and information related to workers’ compensation claims.

The hack occurred between October and December 2024, Hertz said, adding that “a very small number of individuals” may have had their Social Security numbers, passport information and Medicare or Medicaid IDs impacted as well.

The company didn’t disclose how many of its customers were affected by the cyberattack.

Hertz said the hackers accessed the information through systems operated by Cleo Communications, one of its software vendors, and said it was one of “many other companies affected by this event.”

Cleo didn’t immediately respond to a request for comment.

“Hertz takes the privacy and security of personal information seriously,” the company said in a statement, adding that it has reported the breach to law enforcement and is also alerting the relevant regulators. It’s offering two years of free identity-monitoring services to Hertz customers affected by the breach.

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Epic things are coming to Orlando.

In a little more than a month, Universal will officially open the doors of its newest theme park, the first major theme park in the Florida area in 25 years, spurring a major shift in Orlando’s tourism industry.

Epic Universe is the largest of all Universal properties at 750 acres and features five themed worlds: The Wizarding World of Harry Potter — The Ministry of Magic, Super Nintendo World, How to Train Your Dragon — The Isle of Berk, Celestial Park and Dark Universe.

It will join Universal Studios and Walt Disney World in theme park mecca Orlando.

Tourism has long been the leading sector in central Florida, drawing both domestic and international visitors. More than 74 million people journeyed to Orlando in 2023, contributing around 50% of the total sales tax collected in Orange County.

Epic Universe is not only expected to bolster theme park revenues for Universal, as well as its rival just down the highway, Disney, but also bring in billions of dollars to the local economy.

“This is the first major, entirely new theme park in the U.S. in 25 years. This is a compelling reason to visit Orlando,” said Casandra Matej, CEO of Visit Orlando, a tourism trade association. “So, when you see a major milestone project such as Epic Universe, you know it’s going to have definitely a domino effect of economic benefits for our community.”

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Panic selling and oversold extremes gave way to a rip higher last week. Stocks are poised to open strong on Monday as the market reacts positively to tariff news. Last week’s bounce is considered an oversold bounce within a bear market. Thrust signals are setting up, but strong follow through is needed to trigger actual signals. This report will first review the panic indicators and the short-term oversold condition, and then show what it would take to move from a bear market bounce to a bullish breadth thrust.

3 Standard Deviation Decline

The chart below shows SPY dipping below the lower Bollinger Band (200,3) on April 4th. This means SPY was more than 3 standard deviations below its 200-day SMA, which is an extreme oversold condition. For reference, SPY has reached this extreme 27 times in the last 25 years. Such a move reflects panic selling pressure that often gives way to a bounce, which we got on Wednesday, April 9th.

TrendInvestorPro highlighted this 3 standard deviation move and extreme oversold conditions in our reports on April 7th and 8th. Click here to learn more and gain immediate access.

Oversold Extremes for Long-term Breadth

The next chart shows S&P 500 Percent Above 200-day SMA ($SPXA200R) dipping below 20% on April 7th to become extremely oversold. This means more than 80% of S&P 500 stocks were below their 200-day SMAs as traders sold pretty much everything. Extremely oversold readings in long-term breadth foreshadowed bounces June 2022, September 2022 and April 2025.

NYSE Zweig Breadth Thrust Sets Up

The NYSE Zweig Breadth Thrust is setting up as it finished below .40 on Friday. Actually, this indicator has been below .40 for four of the last five days. Readings below .40 reflect a short-term oversold condition that could give way to a bounce. The indicator first dipped below .40 on April 4th and stocks rebounded last week.

This indicator is also setting up for a possible Zweig Breadth Thrust. Currently, stocks are in the midst of an oversold bounce within a bigger downtrend. This would become a bullish Zweig Breadth Thrust should we see follow through and surge above .615 with 10 days. The countdown begins.

The Zweig Breadth Thrust indicator is the 10-day EMA of Advances/(Advances + Declines). Why did Zweig use a 10-day EMA? I believe he wanted to separate 1-5 day bear market bounces from bounces with follow through. The current bounce is just a bear market bounce and we need to see follow through within 10 days for a Zweig Breadth Thrust to trigger.

It is important to monitor more than one breadth indicator for thrust signals because you never know which one will trigger. The NYSE Zweig Breadth Thrust might miss, but the S&P 500 or S&P 1500 Zweig Breadth Thrust indicators may catch the signal, especially if Nasdaq stocks or small and mid caps lead. TrendInvestorPro monitors thrust indicators based on the percentage of stocks above their 20 and 50 day SMAs, and we have a breadth thrust index that aggregates thrust signals in over a dozen breadth indicators. This analysis continues for subscribers to TrendInvestorPro. 

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Healthcare Re-Enters the Top 5

After a wild week in the markets, the sector ranking got quite a shake-up. Although only one sector changed in the top 5, the entire top 5 changed positions. In the bottom half of the ranking, only two sectors remained stationary.

The Healthcare sector re-entered the top 5 after dropping out two weeks earlier. This happened at the expense of Energy, which dropped to #7. Consumer Staples jumped from the #4 position and is now leading, followed by Utilities. Financials and Communication Services dropped to #4 and #5, down from #1 and #2.

In the bottom half, Real-Estate jumped to #6 from #9. Energy, dropping from the top 5, is now at #7, and pushed Industrials and Consumer Discretionary down to #8 and #9.

Materials and Technology remain on positions #10 and #11.

  1. (4) Consumer Staples – (XLP)*
  2. (5) Utilities – (XLU)*
  3. (1) Financials – (XLF)*
  4. (2) Communication Services – (XLC)*
  5. (6) Healthcare – (XLV)*
  6. (9) Real-Estate – (XLRE)*
  7. (3) Energy – (XLE)*
  8. (7) Industrials – (XLI)*
  9. (8) Consumer Discretionary – (XLY)*
  10. (10) Materials – (XLB)
  11. (11) Technology – (XLK)

Weekly RRG: Strong Tails for XLU and XLP

On the weekly RRG, Financials and Communication services remain at high JdK RS-Ratio levels, but have started to roll over while still inside the leading quadrant.

XLV dropped on the JdK RS-Momentum axis, but is still moving higher on RS-Ratio. The two strongest tails are for XLP and XLU, which are pushing further into leading at positive RRG-Headings.

Daily RRG: Communication Services Drops into Lagging

On the daily RRG, XLP and XLU are starting to lose relative momentum, but it is happening at high RS-Ratio levels. This is combined with the strong weekly tails, which keep both sectors comfortably in the top 5.

XLV and XLF are rotating through the weekly quadrant, while XLC has crossed over into lagging.

Consumer Staples

XLP dipped back to support near 75, but recovered strongly back into its previous range. As a result, the raw RS-Line is challenging its overhead resistance, dragging both RRG-Lines sharply higher. This is now clearly the strongest sector.

Utilities

During the week, XLU dropped below support but managed to come back within the range at Friday’s close. Just like Staples, raw RS is about to break its upper boundary, away from its range. Both RRG-Lines are accelerating higher, pushing the tail deeper into leading.

Financials

XLF tested support around 42, but the bounce stopped near its old support level of around 47.50. RS has steadily moved higher within the boundaries of its rising channel.

Communication Services

A big price drop was caught just above horizontal support near 83. The recovery, so far, has not reached overhead resistance at 95, the old support level. This makes XLC the most vulnerable sector inside the top 5. Relative strength remains stable at high RS-Ratio readings and flat RS-Momentum.

Healthcare

The Healthcare sector re-entered the top 5 after one week of absence. This brings all three defensive sectors back into the RRG portfolio. On the price chart, XLV is battling with the former horizontal support area, now resistance, around 136. Relative strength continues to rise, putting the XLV tail well inside the leading quadrant.

Portfolio Performance Update

Last week’s volatility was a bit too much for the portfolio to keep up with, and it is now lagging the S&P 500 by almost 2%.

#StayAlert –Julius