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President Donald Trump late Thursday signed an executive order to end collective bargaining with federal labor unions in agencies with national security missions.

The order cites his authority granted under the Civil Service Reform Act of 1978 and will affect most of the federal government. 

Agencies such as the Departments of State, Defense, Veterans Affairs, Energy, Health and Human Services, Treasury, Justice and Commerce and the part of Homeland Security responsible for border security are just a few listed in the executive order.

The need to end collective bargaining with federal unions in these agencies is because of their role in safeguarding national security, according to the order. 

‘President Trump is taking action to ensure that agencies vital to national security can execute their missions without delay and protect the American people. The President needs a responsive and accountable civil service to protect our national security,’ according to a White House fact sheet regarding the order.

It also claims that ‘Certain Federal unions have declared war on President Trump’s agenda,’ and that the ‘largest Federal union describes itself as ‘fighting back’ against Trump. It is widely filing grievances to block Trump policies.’

According to the administration, VA’s unions have filed 70 national and local grievances over President Trump’s policies, averaging over one a day since the inauguration.

‘President Trump supports constructive partnerships with unions who work with him; he will not tolerate mass obstruction that jeopardizes his ability to manage agencies with vital national security missions,’ the White House said.

Police and firefighters will continue to collectively bargain.

The Associated Press contributed to this report.

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Sen. Mark Kelly, D-Ariz., fired back after Elon Musk unflinchingly stood behind the decision to label the lawmaker a ‘traitor.’ 

Musk made the accusation earlier this month when replying to a post in which the senator, who is also a Navy veteran and retired astronaut, argued that it is important for the U.S. to ‘stand with Ukraine.’

When Fox News’ Bret Baier asked Musk why he leveled the accusation, Musk indicated that Americans should care about U.S. interests over those of another nation, adding, ‘if they don’t, they’re a traitor.’

‘But he’s a decorated veteran, a former astronaut, a sitting U.S. senator,’ Baier pressed.

Musk said that does not mean it is ‘OK’ for Kelly to place the interests of another nation over the U.S.

Kelly fired back during an appearance on CNN. 

‘My entire life has been about serving this country,’ he declared, asserting that he always supports America’s best interests and ‘standing with our allies and standing up for democracy is in the best interests of the United States.’

Kelly added that he would categorize Musk as being ‘much closer to Russia.’

Earlier this month, after Musk called him a ‘traitor,’ the senator announced that he would get rid of his Tesla electric vehicle, saying he did not want to drive a ‘car built and designed by an a–hole.’ 

‘I bought a Tesla because it was fast like a rocket ship. But now every time I drive it, I feel like a rolling billboard for a man dismantling our government and hurting people. So Tesla, you’re fired! New ride coming soon,’ he tweeted.

He later announced that his ‘new ride’ is a Chevrolet Tahoe SUV.

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Ari Fuld’s murderer walked free last month.  

Ari was an American who moved to Israel in the 1990s. A father of four, he devoted his life to defending our country’s greatest ally, serving in the Israeli military and then supporting it every way he could after retiring. But in 2018, a Palestinian terrorist walked up behind him at a shopping mall and stabbed Ari in the back. While he survived for a few minutes — long enough to chase the terrorist and even shoot at him — Ari’s wounds were too severe. He was dead within the day. 

Ari’s murderer was released from Israeli prison as part of that country’s deal for the return of hostages Hamas took on October 7, 2023. While that’s deeply unfortunate, what’s even more unjust is that his murderer’s family has been paid hundreds of dollars a month because he killed an innocent American. They’re benefiting from an evil Palestinian program known as ‘pay-for-slay.’ 

Ari’s loved ones have fought back. Since the 1990s, thanks to an act of Congress, American victims and their families have been able to file civil lawsuits against the terrorists who targeted them. Congress has strengthened that law in the face of legal challenges, most notably through the 2019 ‘Promoting Security and Justice for Victims of Terrorism Act.’  

Now, on April 1, the Supreme Court will hear arguments over whether that law is constitutional. The case is named after Ari Fuld, and his loved ones are asking the justices to side with them over Palestinian terrorists. The justices should do so, upholding America’s ability to deter even more terrorists from killing our citizens. 

Ari’s family are far from the only ones who’ve encountered the injustice of Palestinian pay for slay. The Palestinian Authority alone spends nearly $350 million a year to the families of terrorists who died killing innocent people, including Americans.  

The program is so huge, it even has a formal name in the Palestinian Authority: the ‘Martyr’s Fund.’ While the PA recently claimed to have ended pay-for-slay, its leadership has since made clear it’s not going anywhere. Its very existence encourages more Palestinians to take a murderous road. They know that if they kill as many people as possible, including Americans, their families will be rewarded for years to come. 

American victims absolutely deserve the right to sue those who aid and abet this blatant evil. The constitutional case is clear, as plenty of legal groups have shown to the court. Lower courts agreed the U.S. government has legal authority to impose criminal liability on foreign groups that murder Americans, but ruled that allowing civil cases to go forward would be ‘fundamentally unfair.’ Not true. There’s nothing unfair about requiring those who murdered Americans to face civil penalties for their evil actions, just as they must face consequences in criminal cases. 

And the moral case is even more obvious. No American should have to worry that if a terrorist kills their son or daughter, their mother or father, the terrorist’s family will be richly rewarded. If that happens, Americans should be able to sue whoever or whatever is doling out the blood money. After all, if anyone should be compensated for the killing of an innocent, it should be the victims. Justice demands nothing less. 

For the Supreme Court, this should be an easy decision. But Congress also needs to do the hard work of ending the Palestinian pay-for-slay altogether. Congress should immediately pass the ‘PLO and PA Terror Payments Accountability Act,’ authored by Arkansas Republican Sen. Tom Cotton and New York Republican Rep. Mike Lawler.  

The bill would impose strong sanctions on any person or organization involved in paying terrorists for murdering innocent people. The Palestinian groups that reward murderers, along with their foreign backers, would think twice if their own finances were crippled. America’s leaders should do everything possible to hold them accountable and end the killing. 

Ari Fuld’s killer may be free, but his family’s quest for justice should be allowed to continue. Most importantly, no American family should ever again suffer like they have.  

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Secretary of Defense Pete Hegseth said Friday that the Trump administration intends to boost military ties with the Philippines to strengthen deterrence against Chinese aggression in the disputed South China Sea.

The assurance came during a meeting with President Ferdinand Marcos Jr. in the Philippines, part of Hegseth’s trip to Asia to reaffirm Washington’s ‘ironclad’ commitment to the region under the administration of President Donald Trump.  

‘Deterrence is necessary around the world but specifically in this region, in your country, considering the threats from the communist Chinese,’ Hegseth told Marcos. ‘Friends need to stand shoulder to shoulder to deter conflict, to ensure that there is free navigation whether you call it the South China Sea or the West Philippine Sea.’

‘Peace through strength is a very real thing,’ Hegseth said, praising the Philippines for standing ‘very firm’ to defend its interests in the contested waters.

China claims virtually the entire South China Sea, a major security and global trade route. The Philippines, Vietnam, Malaysia, Brunei and Taiwan also have overlapping claims to the resource-rich and busy waters, but confrontations have spiked between Chinese and Philippine coast guard and naval forces in the last two years.

Chinese forces have used powerful water cannons and dangerous maneuvers in the high seas to block what Beijing said were encroachments by Philippine ships into China’s waters. Chinese military aircraft have also approached Philippine patrol planes at alarmingly close distances to drive them away from the Scarborough Shoal, a hotly disputed fishing atoll in the disputed waterway.

Hegseth echoed that pledge by expressing ‘the ironclad commitment’ of Trump and him ‘to the Mutual Defense Treaty and to the partnership.’

Marcos told the U.S. defense chief that by visiting the Philippines first in Asia, he ‘sends a very strong message of the commitment of both our countries to continue to work together to maintain peace in the Indo-Pacific region, within the South China Sea.’

‘We have always understood the principle that the greatest force for peace in this part of the world would be the United States,’ Marcos said.

Hegseth’s visit to the Philippines comes a month before the longtime treaty allies hold their largest annual combat exercises that will include live-fire drills. 

The defense secretary’s visit comes as he faces calls back home for his resignation for texting attack plans to a Signal group that included top-level U.S. security officials and the editor-in-chief of The Atlantic magazine.

The Associated Press contributed to this report.

This post appeared first on FOX NEWS

The Democratic National Committee (DNC) launched its first-ever ad buy Friday targeting Elon Musk and the millions of dollars he has injected into the Wisconsin Supreme Court race, previewing what could be a broader strategy for the party going forward.

The DNC ad buys, which are slated to run through Tuesday in seven local newspapers across Wisconsin, take aim at the $19 million Musk and his affiliated PACs have spent on behalf of conservative candidate, Brad Schimel, in a high-stakes state Supreme Court election that will determine whether the court retains its current 4-3 liberal majority.

Musk ‘has threatened Medicare, gutted Social Security services, and now he thinks he can buy himself a seat on the Wisconsin Supreme Court,’ DNC Chair Ken Martin said in a statement Friday. ‘That’s why, today, the DNC is out with our first paid media explicitly calling out Musk for his attempts to meddle in Wisconsin’s elections.’

DNC officials told Fox News Digital that the ads will run in seven local newspapers across the state – the Chippewa Herald, the Manitowoc Herald Times Reporter, the Beloit Daily News, the Daily Jefferson County Union, the Janesville Gazette, the Watertown Daily Times and the Oshkosh Northwestern – and highlight the message, ‘Wisconsin is not for sale.’

‘Wisconsinites deserve a Supreme Court justice who looks out for them, not the ultra-wealthy,’ Martin said. ‘Now and forever, Wisconsin is not for sale.’

The closely-watched state Supreme Court in Wisconsin is already the most expensive judicial election in U.S. history, reaching a total of more than $81 million in spending and far eclipsing the $56 million spent on the state Supreme Court race just two years earlier, according to figures compiled by the Brennan Center for Justice. 

Musk’s two super PACs spent more than $17 million on Schimel’s behalf, while Musk personally donated $3 million to the Wisconsin Republican Party earlier this year – funds that in turn can be used for Schimel’s campaign. 

President Donald Trump and Musk have thrown their weight behind conservative candidate Schimel, with Trump himself stumping for Schimel during a Thursday evening tele-town hall event and billing the race as one that could have an outsized impact on the future of the country.’

‘I know you feel it’s local, but it’s not,’ Trump said, adding, ‘The whole country is watching.’

Meanwhile, former President Barack Obama and other notable Democrats have thrown their weight behind liberal opponent Susan Crawford, the current Dane County circuit judge whose campaign has attracted more than $25 million in funding ahead of the race. 

Democrats, for their part, see the race as fertile proving grounds to test their attack against Musk as they look to retain a critical state Supreme Court seat in Wisconsin and gear up for the 2026 midterm elections.

The efficacy of the ad campaign in Wisconsin, a that narrowly elected Trump in both the 2016 and 2024 presidential contests, remains to be seen. 

However, it comes as Democrats have struggled to coalesce around a unifying message in the aftermath of the 2024 elections, which could make Musk, and his Department of Government Efficiency (DOGE), more attractive targets. 

Polling numbers in Wisconsin also bear this out. Fifty-three percent of Wisconsin voters said earlier this month that DOGE is disrupting programs required by law, according to a survey from Marquette University Law School, while a slightly lower 47% said the quasi-agency is carrying out Trump’s agenda. 

A larger 59% majority said Trump’s freezing spending and his closing of federal agencies is beyond his governmental authority.  

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Chinese tea chain Chagee filed for a U.S. initial public offering on Tuesday, seeking to trade on the Nasdaq using the ticker “CHA.”

The IPO filing comes as the company prepares to open its first U.S. store in the Westfield Century City mall in Los Angeles this spring.

Since its founding in 2017, the company has grown to more than 6,400 teahouses across China, Malaysia, Singapore and Thailand, as of Dec. 31, according to a regulatory filing. Roughly 97% of its locations are in China.

Chagee said it generated net income of $344.5 million from revenue of $1.7 billion in 2024.

Founder and CEO Junjie Zhang created the chain to modernize tea drinking after being inspired by the success of international coffee companies, according to a regulatory filing. China is Starbucks’ second-largest market.

Looking ahead, Chagee wants to “serve tea lovers in 100 countries, generate 300,000 employment opportunities worldwide, and deliver 15 billion cups of freshly brewed tea annually,” according to the company’s website.

If Chagee goes public on the Nasdaq, it will join the dwindling number of Chinese companies seeking a U.S. listing. From January 2023 to January 2024, the number of Chinese companies listed on the three largest U.S. exchanges fell 5%, according to the U.S.-China Economic and Security Review Commission.

As relations between the U.S. and Beijing have grown frostier, political scrutiny has dashed some Chinese companies’ hopes of a U.S. IPO. Shein is now planning a London IPO for later this year after lawmakers pushed back on its plans to go public on a U.S. exchange.

U.S. investors might also be wary to invest in another Chinese beverage chain after the example set by Luckin Coffee.

Luckin was founded in 2017 and grew quickly. By 2019, it had outnumbered the number of Starbucks locations in China and gone public on the Nasdaq.

But in 2020, Luckin disclosed that it had inflated its sales, resulting in its delisting from the Nasdaq. The company filed for Chapter 15 bankruptcy. Luckin emerged from bankruptcy by 2022, minus the executives that were responsible for the fraud.

Since then, it has overtaken Starbucks as China’s largest coffee retailer by sales.

This post appeared first on NBC NEWS

Dollar Tree said Wednesday that it’s gaining market share with higher-income consumers and could raise prices on some products to offset President Donald Trump’s tariffs.

The discount retailer’s CEO, Michael Creedon, said the company is seeing “value-seeking behavior across all income groups.” While Dollar Tree has always relied on lower-income shoppers and gets about 50% of its business from middle-income consumers, sustained inflation has led to “stronger demand from higher-income customers,” Creedon said.

Dollar Tree’s success with higher-income shoppers follows similar gains from Walmart, which has made inroads with the cohort following the prolonged period of high prices.

Trump’s tariffs on certain goods from China, Mexico and Canada — and the potential for broad duties on trading partners around the world — have only added to concerns about stretched household budgets. While Dollar Tree will use tactics like negotiating with suppliers and moving manufacturing to mitigate the effect of the duties, it could also hike the prices of some items, Creedon said.

Dollar Tree has rolled out prices higher than its standard $1.25 products at about 2,900 so-called multi-price stores. Certain products can cost anywhere from $1.50 to $7 at those locations.

The retailer weighed in on higher-income customers and the potential effect of tariffs as it announced its fourth-quarter earnings. Dollar Tree also said it will sell its struggling Family Dollar chain for about $1 billion to a consortium of private-equity investors.

Dollar Tree said its net sales for continuing operations — its namesake brand — totaled $5 billion for the quarter, while same-stores sales climbed 2%. Adjusted earnings per share came in at $2.11 for the period.

It is unclear how the figures compare to Wall Street estimates.

For fiscal 2025, Dollar Tree expects net sales of $18.5 billion to $19.1 billion from continuing operations, with same-store sales growth of 3% to 5%. It anticipates it will post adjusted earnings of $5 to $5.50 per share for the year.

Creedon said the expected hit from the first round of 10% tariffs Trump levied on China in February would have been $15 million to $20 million per month, but the company has mitigated about 90% of that effect.

Additional 10% duties on China imposed this month, along with 25% levies on Mexico and Canada that have only partly taken effect, would hit Dollar Tree by another $20 million per month, Creedon said. The company is working to offset those duties, but did not include them in its financial guidance due to the confusion over which tariffs will take effect and when.

This post appeared first on NBC NEWS

Oil executives are warning that President Donald Trump’s tariffs and “drill, baby, drill” message have created uncertainty in energy markets that is already affecting investment.

The executives, shielded by anonymity, bluntly criticized Trump in their responses to a survey conducted by the Federal Reserve Bank of Dallas from March 12 to March 20.

“The administration’s chaos is a disaster for the commodity markets,” one executive said. ”‘Drill, baby, drill’ is nothing short of a myth and populist rallying cry. Tariff policy is impossible for us to predict and doesn’t have a clear goal. We want more stability.”

Several executives said Trump’s steel tariffs are raising their costs, making it difficult to plan for future projects.

“Uncertainty around everything has sharply risen during the past quarter,” another executive said. “Planning for new development is extremely difficult right now due to the uncertainty around steel-based products.”

They also criticized the suggestion by White House advisers such as Peter Navarro that Trump’s “drill, baby, drill” agenda aims to push oil prices down to $50 a barrel to fight inflation.

“The threat of $50 oil prices by the administration has caused our firm to reduce its 2025 and 2026 capital expenditures,” an executive said. ”‘Drill, baby, drill’ does not work with $50 per barrel oil. Rigs will get dropped, employment in the oil industry will decrease, and U.S. oil production will decline as it did during COVID-19.”

CNBC has asked the White House for comment.

The Dallas Fed Energy Survey is conducted every quarter with about 200 firms responding. The survey covers operators in Texas, southern New Mexico and northern Louisiana.

The scathing criticism in the Dallas Fed survey stood in contrast to major oil companies’ public comments at the industry’s big energy conference in Houston earlier this month.

Executives mostly praised Trump’s energy team during the event and welcomed the administration’s focus on increasing leasing and slashing red tape around permitting.

This post appeared first on NBC NEWS

The S&P 500, NASDAQ 100, and Russell 2000 fell 10.5%, 13.8%, and 19.5%, respectively, from their recent all-time highs down to their March lows. Each index paused long enough and deep enough for a correction, with the Russell 2000 nearly reaching cyclical bear market territory (-20%).

At this point, there’s key price resistance on the S&P 500. Moving through it doesn’t necessarily mean we’re “in the clear.” However, failure to move through and then rolling back over increases the odds of another test of recent low price support. Check out the range I’m watching on the S&P 500:

Key price resistance, in my view, is at 5782 on the S&P 500. That was the gap support from early November and also the price support from mid-January. Now we’re trying to break above that resistance, while at the same time trying to hang onto now-rising 20-day EMA support.

As for support, the April and August lows in 2024 intersect beautifully with the March 2025 low. That’s something to keep an eye on if we begin to head lower again. The price support on the S&P 500 is now just above 5500, so a close beneath that level would be damaging – at least in the very near-term. I say that, because any new closing low would be accompanied by a higher PPO, a positive divergence. Many times, a reversing candle and a positive divergence will mark a significant bottom. So there’ll be plenty to watch over the next few days to few weeks.

I also want to show you how the S&P 500 is performing on a short-term chart vs. the NASDAQ 100, which is the more aggressive index:

It’s just a little thing, but the S&P 500 and NASDAQ 100 had been trading mostly in unison over the past week or two, but with this morning’s weakness, note that the NASDAQ 100 has moved back down to Monday’s opening gap higher, while the S&P 500 still remains well above it. Here’s one reason for it:

Since the Fed announcement one week ago, discretionary stocks (XLY) had reversed its downtrend vs. staples stocks (XLP). But check out today’s action! Maybe this is just short-term and we’ll see a reversal later, but it’s hard to be overly encouraged when staples goes up 1.14%, while discretionary drops 0.64%.

It’s a warning sign.

I know there are TONS of mixed signals out there and everyone wants to know whether this recovery is the REAL DEAL or if it was only temporary before the next shoe drops. Well, if you’re interested, I’ll be hosting a FREE event on Saturday.

Correction or Bear Market?

That’s the topic of our Saturday event, which will begin promptly at 10am ET. I will be providing multiple angles/charts/strategies and what each of them are telling us. If you’d like to join me on Saturday and would like more information, REGISTER NOW.

Even if you have a prior commitment on Saturday, we plan to record the event and send out the recording to all who register. So act now to attend and/or receive your copy of the recording.

Happy trading!

Tom

In this exclusive StockCharts video, Joe shares how to use multi-timeframe analysis — Monthly, Weekly, and Daily charts — to find the best stock market opportunities. See how Joe uses StockCharts tools to create confluence across timeframes and spot key levels. Joe then identifies strength in commodities, QQQ, and finishes up by reviewing symbol requests from viewers.

This video was originally published on March 26, 2025. Click this link to watch on Joe’s dedicated page.

Archived videos from Joe are available at this link. Send symbol requests to stocktalk@stockcharts.com; you can also submit a request in the comments section below the video on YouTube. Symbol Requests can be sent in throughout the week prior to the next show.