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After 9/11, Washington, D.C.’s airspace got a significant security boost. 

Now, over two decades later, this system is getting a cutting-edge makeover. 

The National Capital Region (NCR) is rolling out an advanced artificial intelligence-based visual recognition system that’s taking air defense to a whole new level.

The new eyes in the sky

The Enhanced Regional Situational Awareness (ERSA) system represents a dramatic upgrade from previous security technologies. These new cameras are giving air defense operators unprecedented capabilities in monitoring and protecting critical airspace. They come with some seriously cool features that take air defense to the next level. 

The cameras boast infrared vision with RGB filters for heat signature detection, allowing operators to spot targets even in low visibility conditions. A laser range finder provides accurate distance and altitude measurements, enhancing the system’s precision. Machine learning elements enable enhanced auto-tracking capabilities, making it easier to follow objects of interest. Additionally, a visual warning system is in place to alert non-compliant aircraft, using red and green lasers to illuminate cockpits and prompt immediate action from pilots.

The brains behind the operation

The Eastern Air Defense Sector (EADS) in Rome, New York, works in close coordination with the Joint Air Defense Operations Center (JADOC) at Joint Base Anacostia-Bolling to manage the ERSA system. This integrated approach ensures comprehensive surveillance and rapid response to potential threats. Air Force Master Sgt. Kendrick Wilburn, a capabilities and requirements officer at JADOC, explains that the system allows for more precise radar data validation. When uncertain radar data is detected, operators can use the cameras as an additional resource to confirm and assess the situation. This collaborative effort between EADS and JADOC enables swift decision-making and effective threat mitigation.

Technological innovation

The ERSA system, developed by Teleidoscope, underwent rigorous testing in 2022, with air defense operators evaluating prototypes from three companies. Teleidoscope’s cameras stood out due to their advanced software enhancements and significant improvements over existing systems. The Defense Innovation Unit played a crucial role in securing funding through the Air Force’s Accelerate the Procurement and Fielding of Innovative Technologies (APFIT) program, demonstrating a commitment to rapidly deploying cutting-edge defense technology. Marine Corps Maj. Nicholas Ksiazek of the Defense Innovation Unit likened the upgrade to ‘the technological leap we saw between a 2011 iPhone and a current one,’ highlighting the substantial advancements in capability. Currently, two operational cameras have been installed, with plans to add seven more annually, ensuring continuous improvement of the NCR’s air defense capabilities.

Kurt’s key takeaways

The rollout of the ERSA system marks a significant step forward in air defense for the National Capital Region. With AI-powered cameras that enhance detection and tracking capabilities, operators are equipped to respond to potential threats more effectively than ever before. This integration of advanced technology and skilled personnel underscores our commitment to national security, ensuring that Washington, D.C.’s airspace remains safe and secure as we move into the future.

What are your thoughts on expanding advanced air defense technologies like the ERSA system to other major cities across the country—do you believe they would enhance national security, or are there potential drawbacks to consider?  Let us know by writing us at

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This post appeared first on FOX NEWS

The S&P/TSX Venture Composite Index (INDEXTSI:JX) fell 2.87 percent on the week to close at 586.88 on Friday (December 20). Meanwhile, the S&P/TSX Composite Index (INDEXTSI:OSPTX) posted a 2.6 percent decrease to hit 24,599.48, and the CSE Composite Index (CSE:CSECOMP) was down just 0.12 percent to reach 130.58.

Statistics Canada released November’s consumer price index (CPI) data on Tuesday (December 17). The data showed that inflation in Canada continued to cool, posting a 1.9 percent year-over-year increase, down from the 2 percent recorded in October.

The agency said the decrease was partly due to a 0.4 percent decrease in gasoline prices and consumers taking advantage of lower prices during Black Friday sales.

StatsCan also released its October monthly mineral production survey on Thursday (December 19). The release shows copper production in Canada increased to 37.5 million kilograms from 35.43 million in September. Gold production also increased, rising considerably to 26,553 kilograms from 15,296 kilograms the prior month. Meanwhile, silver production decreased slightly, with 25,166 kilograms produced in October compared to 26,827 kilograms the previous month.

South of the border, the US Federal Reserve held its final meeting of the year this past Tuesday and Wednesday (December 18). The committee cut the benchmark rate by 25 basis points, lowering it to 4.25 to 4.5 percent.

The Fed cited an improving economic outlook, with inflation easing towards its target 2 percent range and a better job market balance. However, the Fed is widely expected to slow further cuts in the new year as it continues to gather data.

In his remarks following the meeting, Fed Chairman Jerome Powell wouldn’t rule out future increases as some inflationary indicators have stalled in recent weeks.

The news was not well received on Wall Street, with the Dow plunging more than 1,000 points following the announcement.

Over the course of the week, markets were broadly down. The S&P 500 (INDEXSP:INX) fell 2.19 percent to end Friday at 5,930.84, while the Nasdaq-100 (INDEXNASDAQ:NDX) shed 2.69 percent to 21,289.15. Meanwhile, the Dow Jones Industrial Average (INDEXDJX:.DJI) finished the week down 2.25 percent at 42,840.25.

Precious metals also took a hit on the Fed news, with gold and silver plunging below US$2,600 and US$30 respectively.

Overall, gold lost 1 percent over the week to finish Friday at US$2,623.92 and silver sank 3.42 percent to US$29.49 per ounce. Additionally, copper fell 2.61 percent for the week to close at US$4.10 per pound on the COMEX. The S&P GSCI (INDEXSP:SPGSCI) was down 1.32 percent to close at 539.08.

Learn about this week’s five best-performing Canadian mining stocks below.

Data for this article was retrieved at 4:00 p.m. EST on December 20, 2024, using TradingView’s stock screener. Only companies trading on the TSX, TSXV and CSE with market capitalizations greater than C$10 million are included. Companies within the non-energy minerals and energy minerals sectors were considered.

1. Omineca Mining and Metals (TSXV:OMM)

Company Profile

Weekly gain: 66.67 percent
Market cap: C$10.91 million
Share price: C$0.075

Omineca Mining and Metals is a gold exploration and mining company working to advance its Wingdam project in British Columbia, Canada.

The project consists of 61,329 hectares of hard rock and placer claims within the Cariboo mining district. It is a 50/50 joint venture with D&L Mining. The site currently hosts mining operations focused on extracting placer gold from gravels 50 meters beneath Lightning Creek.

According to the company, the mine is extracted through gravity separation, which uses an existing reusable water supply without chemicals, mill waste or tailings.

Omineca’s shares saw price gains at the end of the week, but the only news came early in the week after the company announced on Tuesday that it had expanded its diamond drilling program at Wingdam from 10 holes to 17 and up to 10,000 meters. So far, the company has completed six holes with two rigs and sent its first sample to be assayed.

The company said drilling has encountered some quartz veins with various concentrations of semi-massive to massive sulphide mineralization, and included photos of the mineralized cores. Samples from several holes will be assayed for coarse gold.

Additionally, on December 6, the company announced that it had entered into a non-brokered private placement of flow-through units for C$0.055 per share, with gross proceeds of up to C$2.4 million. The company said it would use the funds to explore Wingdam further as it works to find the lode source of the placer gold.

2. Bayhorse Silver (TSXV:BHS)

Company Profile

Weekly gain: 45.45 percent
Market cap: C$17.87 million
Share price: C$0.08

Bayhorse Silver is a silver-focused company currently working to bring the Bayhorse silver, copper and antimony mine in Oregon, US, back online.

The mine was originally in operation until late 1984 and closed when the price of silver dropped to under US$6 per ounce. Historic sampling during the 1980s identified grades of 2,146 grams per metric ton (g/t) silver, and a bulk sampling program conducted by Bayhorse in 2014 found bonanza grades of 150,370 g/t silver.

The company has continued to explore the property and, in October 2018, produced a maiden resource estimate that showed the property hosts inferred resources of 6.33 million ounces of silver from 292,300 US tons of ore with an average grade of 21.65 ounces per US ton.

The most recent update from the project came on December 19 when the company reported that drilling had encountered a strongly brecciated zone at 112 meters downhole, continuing to the current drilling depth of 148 meters. Bayhorse said the XRF field analysis showed elevated levels of copper, zinc and lead, but confirmation from a formal lab assay is needed.

3. Defense Metals (TSXV:DEFN)

Company Profile

Weekly gain: 40 percent
Market cap: C$32.53 million
Share price: C$0.14

Defense Metals is a rare earth metals exploration and development company currently focused on advancing its Wicheeda property near Prince George in British Columbia, Canada.

The property consists of 12 mineral claims covering 6,759 hectares and hosts rare earth element mineralization, first discovered at the site in 1976. Between 2019 and 2023, Defense extensively explored the property, drilling 60 diamond drill holes totalling 12,883.91 meters.

In August 2023, the company produced a technical report for the property with its most recent mineral resource estimate. The site hosts measured and indicated resources of 699,000 metric tons of total rare earth oxides from 34.17 million metric tons of ore with an average grade of 2.02 percent, as well as inferred resources of 113,000 metric tons of total rare earth oxides from 11.05 million metric tons of ore with an average grade of 1.02 percent.

The company’s most recent news came on Thursday, when it announced it would grant 9.95 million incentive stock options to directors, officers and consultants. The options are exercisable for five years, with 8.85 million offered at C$0.125 per share, 400,000 offered at C$0.205 per share and 700,000 at C$0.26.

4. Nevada Lithium Resources (CSE:NVLH)

Company Profile

Weekly gain: 37.5 percent
Market cap: C$53.18 million
Share price: C$0.22

Nevada Lithium Resources is an exploration and development company working to advance its Bonnie Claire lithium project in Nevada, US. The property consists of 915 placer claims covering an area of 74.1 square kilometers in Nye County.

According to a mineral resource estimate issued on Monday (December 16), the site hosts indicated resources of 202,000 metric tons of contained lithium from ore with an average grade of 1,074 parts per million (ppm) and inferred resources of 499,000 metric tons contained lithium at an average grade of 1,106 ppm.

Along with the lithium, the site also has significant quantities of boron, hosting an indicated resource of 231,000 metric tons of contained boron from ore with an average grade of 1,519 ppm and an inferred resource of 407,000 metric tons at 1,505 ppm.

In addition to the technical report, Nevada Lithium announced the same day that it had been given conditional approval to list its common shares on the TSX Venture exchange. Once final approval is received, shares will be listed on the TSXV under the same ticker symbol and delisted from the CSE.

5. Gratomic (TSXV:GRAT)

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Company Profile

Weekly gain: 33.33 percent
Market cap: C$13.02 million
Share price: C$0.06

Gratomic is a junior graphite development and exploration company with assets in Namibia, Canada and Brazil.

Its primary project is the Aukam graphite property, located near the port of Luderitz in Southern Namibia. It covers an area of 141,500 hectares and has been granted four prospecting licenses. The site hosts an existing 7,200 metric ton per year modular processing plant, with the capability to be upgraded to 22,000 metric tons per year.

Gratomic has been working to create stockpiles at the Aukam mine as it starts to ramp up production. During the commercial commissioning phase of the plant, the company produced 300 metric tons of graphite.

Gratomic shared an update on the project on November 21, and announced the appointment of new Chief Operating Officer and Director Hermanus Manuel Silver.

“We have already started working on a business plan which we plan to implement in December 2024 to set the stage for greater strategic advancement of the asset and the processing plant,” he said.

The company’s most recent news came on December 11, when it alleged that its former chief operating officer had wrongfully transferred some of its mining claims at its Capim Grosso property in Brazil to another graphite company. It has yet to be approved by the country’s mining authority, and Gratomic is seeking legal advice. The company stated that it had made significant investments in the transferred claims, and it plans to sell the property if it can recover it.

Gratomic had previously allowed other mining claims at its Capim Grosso property to expire as it said further exploration and development costs at the site were not justified and would drain company resources.

FAQs for Canadian mining stocks

What is the difference between the TSX and TSXV?

The TSX, or Toronto Stock Exchange, is used by senior companies with larger market caps, and the TSXV, or TSX Venture Exchange, is used by smaller-cap companies. Companies listed on the TSXV can graduate to the senior exchange.

How many companies are listed on the TSXV?

As of June 2024, there were 1,630 companies listed on the TSXV, 925 of which were mining companies. Comparatively, the TSX was home to 1,806 companies, with 188 of those being mining companies.

Together the TSX and TSXV host around 40 percent of the world’s public mining companies.

How much does it cost to list on the TSXV?

There are a variety of different fees that companies must pay to list on the TSXV, and according to the exchange, they can vary based on the transaction’s nature and complexity. The listing fee alone will most likely cost between C$10,000 to C$70,000. Accounting and auditing fees could rack up between C$25,000 and C$100,000, while legal fees are expected to be over C$75,000 and an underwriters’ commission may hit up to 12 percent.

The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance.

These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports.

How do you trade on the TSXV?

Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange’s trading hours.

Article by Dean Belder; FAQs by Lauren Kelly.

Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.

Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

(TheNewswire)

Opawica Explorations Inc.

December 20th, 2024 Vancouver, B.C. TheNewswire – Opawica Explorations Inc. (TSXV: OPW) (FSE: A2PEAD) (OTCQB: OPWEF) (the ‘Company’ or ‘Opawica’), a Canadian mineral exploration company focused on precious and base metal projects, is pleased to announce that it has closed the recently announced private placement (December 17, 2024) of 4,330,00 Units for total aggregate proceeds of CAD $1,082,500 each consisting of one flow through Share of the Company and one half Common Share Purchase Warrant at a price of $0.25 per Unit.

Each purchase Warrant is exercisable into one Common Share at an exercise price of $0.40 per share at any time up to 24 months following the closing date. The Company also maintains a Warrant Acceleration option allowing Opawica to accelerate the expiry date of the Warrants if the daily trading price of the Common Shares on the TSX Venture Exchange is greater than $0.55 per Common Share for the preceding 10 consecutive trading days. All securities issued under the Offering and including Warrants will be subject to a four (4) month and one day holding period being April 21 st, 2025.

As part of the closing, Opawica has agreed to compensate the finding agents with a commission of up to 6.0% cash totaling $64,950, and up to 6.0% purchase Warrants totaling 259,800 Warrants based on the gross proceeds of the Offering. Each purchase Warrant is exercisable @ $0.40 according to the terms described above.

The Company intends to use the net proceeds to advance drilling obligations on its flagship properties in the Abitibi Gold Belt Québec.

The Private Placement remains subject to receipt of all required approvals, including the final approval of the TSX Venture Exchange, as well as execution of formal documentation.

Blake Morgan CEO and President states, ‘With a great cash position in hand, Opawica is now primed to start drilling on its flagship properties in the Abitibi Green Stone Belt Québec. A large number of high priority drill targets have been identified across our two flagship properties and the company is eager to drill them. The company will have some more news regarding the drill program soon. We welcome shareholders to visit www.opawica.com and follow us on our journey.’

A bout Opawica Explorations Inc.

Opawica Explorations Inc. is a junior Canadian exploration company with a strong portfolio of precious and base metal properties within the Rouyn-Noranda region of the Abitibi Gold Belt in Québec. The Company’s management has a great track record in discovering and developing successful exploration projects. The Company’s objective is to increase shareholder value through the development of exploration properties using cost effective exploration practices, acquiring further exploration properties, and seeking partnerships by either joint venture or sale with industry leaders.

FOR FURTHER INFORMATION CONTACT:

Blake Morgan

President and Chief Executive Officer

Opawica Explorations Inc.

Telephone: 236-878-4938

Fax: 604-681-3552

www.opawica.com

info@opawica.com

Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in

the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy

of this news release.

Forward-Looking Statements

This news release contains certain forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company’s exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.

Copyright (c) 2024 TheNewswire – All rights reserved.

News Provided by TheNewsWire via QuoteMedia

This post appeared first on investingnews.com

Senate Democrats labeled billionaire Elon Musk ‘co-president’ and ‘shadow speaker’ among other titles as they reacted to the original stopgap spending deal’s implosion on Wednesday after he and ultimately President-elect Trump came out against it. 

Sen. Elizabeth Warren, D-Mass., said Musk ‘seems to be the guy in charge of the country now,’ reacting to his apparent ability to influence the bill’s prompt failure despite it having been agreed upon by bipartisan leaders in Congress. 

If a measure to provide funding for the government is not passed by Congress and signed by President Biden by midnight on Saturday morning, a partial government shutdown will go into effect. 

As of Thursday, the U.S. national debt was at $36,167,604,149,955.61 and continues to climb rapidly. 

After a 1,547-page short-term spending bill was debuted this week. Musk quickly took to X to trash it, pointing out various seemingly irrelevant provisions as well as its cost and length. 

He was soon joined by other critics, and Trump and Vice President-elect JD Vance issued their own statement opposing the bill. 

This led to significant criticism from Democrats unhappy with Musk’s apparent ability to influence Trump and the Republicans in Congress. 

‘He’s the one who seems to be calling the shots,’ Warren told reporters. 

‘Elon Musk is the one evidently in charge of the Republican Party and has blown that deal up. So I don’t know how the Republicans are planning to recover from that,’ she said. 

Sen. John Fetterman, D-Pa., suggested that Musk is ‘already the shadow speaker of the House,’ in a slight against House Speaker Mike Johnson, R-La.

‘I think he’s unelected, and he’s created a whole lot of damage,’ said Sen. Raphael Warnock, D-Ga.

He claimed Republicans in Congress were ‘busy listening to Co-President Musk and co-President Trump.’ 

‘I’m listening to the people of Georgia, especially the farmers who are struggling to get disaster relief. And, we need to make sure that we get that over the finish line,’ said Warnock.

Sen. Mark Kelly, D-Ariz., reiterated that Musk is not an elected official. ‘He doesn’t have any official government job,’ he said. 

‘We had a deal with Republicans in the House and now, because of him, the president-elect is on the verge of people losing their jobs and not getting paid over the holidays,’ Kelly said of a potential partial shutdown if a bill is not passed by a deadline of midnight on Saturday morning. 

Despite their Democratic colleagues’ claims, Republicans pushed back on the idea that Trump was being influenced by Musk. Sen. James Lankford, R-Okla., noted that there are ‘lots of people around President Trump,’ adding that he doesn’t think Musk has control over what the president-elect does. 

Musk was tapped by Trump, along with former presidential candidate Vivek Ramaswamy, to lead what is called the Department of Government Efficiency (DOGE), a proposed advisory board tasked with eliminating government waste.


This post appeared first on FOX NEWS

The House has passed a bill to avert a partial government shutdown on Friday, hours before the midnight federal funding deadline. 

The bill, which needed approval from two-thirds of the chamber, passed overwhelmingly in a 366 to 34 vote. 

All Democrats voted for the bill save for Rep. Jasmine Crockett, D-Texas, who voted ‘present.’

Lawmakers were scrambling for a path forward after an initial bill was tanked by President-elect Trump and his allies on Wednesday, and a later bill approved by Trump failed on the House floor Thursday.

But Trump has stayed noticeably silent on this latest measure – which many House Republicans saw as a tacit sign of approval.

Speaker Mike Johnson, R-La., was optimistic after days of uncertainty, telling reporters there would be a House-wide vote Friday when leaving a closed-door House GOP meeting where leaders presented their plan.

‘We will not have a government shutdown, and we will meet our obligations for our farmers who need aid, for the disaster victims all over the country and for making sure that military and essential services and everyone who relies upon the federal government for a paycheck is paid over the holidays,’ Johnson said. 

Meanwhile, the national debt has climbed past $36 trillion, and the deficit is over $1.8 trillion.

The legislation, if passed in the Senate, would extend current government funding levels through mid-March, a measure known as a continuing resolution (CR), paired with just over $100 billion in disaster relief aid for victims of storms Helene and Milton, as well as assistance for the agriculture industry.

Johnson bypassed regular House procedures to get the legislation straight to a chamber-wide vote, a maneuver known as ‘suspension of the rules.’

In exchange for the fast track, however, the threshold for passage was raised from a simple majority to two-thirds of the House chamber, meaning Democratic support is critical.

Rep. Thomas Massie, R-Ky., told reporters he believed Johnson struck an agreement with House Minority Leader Hakeem Jeffries, D-N.Y. A longtime Johnson critic, Massie said he would not vote for the bill.

‘Trump wanted a debt limit increase, and now we’re bringing the exact same bill to the floor without the debt limit increase,’ Massie said.

Another Republican lawmaker argued Johnson would not move forward without Trump’s blessing.

‘We wouldn’t do it if they weren’t,’ Rep. Dan Meuser, R-Pa., said when asked if Trump and Elon Musk were supportive of the deal.

Trump and Musk led the conservative rebellion against the initial plan to avert a partial shutdown, a bipartisan deal that came from negotiations between the top two Democrats and Republicans in both Congressional chambers.

That bill, 1,547 pages, would have extended current government funding levels until March 14. However, GOP hardliners were angered by what they saw as unrelated measures attached to the bill, like a pay raise for congressional lawmakers, health care policy provisions and legislation aimed at revitalizing RFK Stadium in Washington, D.C.

It was scrapped as Trump and Musk threatened to force out of office any lawmaker who did not support pairing a CR with action on the debt limit.

The debt limit is suspended until January 2025 through a prior bipartisan deal, but Trump had pushed for Republicans to act on it now to avoid a messy, protracted fight early in his term.

The second iteration of the funding deal was much slimmer, coming in at 116 pages. It excluded the stadium bill and the congressional pay raise, but still included measures to fund the rebuilding of Baltimore’s Francis Scott Key Bridge and disaster aid funding. It also suspended the debt limit through January 2027.

A House vote on the second plan went down in flames, however, after 38 Republicans opposed to raising or suspending the debt limit voted with all but two Democrats to defeat the bill.

Johnson huddled with those holdouts Friday morning, along with Trump’s nominee to lead the Office of Management and Budget, Russell Vought, and Vice President-elect JD Vance. 

The bill that passed the House on Friday does not act on the debt limit, but Johnson pledged in that closed-door meeting to raise the debt limit early next year as part of Republicans’ plans for a massive policy and spending overhaul.

During their closed-door meeting Friday, House GOP leaders unveiled their CR plan as well as a plan to raise the debt limit by $1.5 trillion, followed by $2.5 trillion in net spending cuts, multiple people told Fox News Digital.

Democrats who left their own closed-door meeting shortly before the vote largely said they would support the bill – which they did.

President Biden has said he would sign it into law if it reaches his desk after a Senate vote.


This post appeared first on FOX NEWS

A smart investor listens to the stock market and this week’s stock market action was a perfect example of why this is important. 

It was a roller-coaster week in the stock markets leading many investors to quickly sell holdings when there was a big selloff and scramble to go long again on Friday when the broader stock market indexes turned higher. This is why it’s a good idea to always look at a longer time frame chart to get a sense of the long-term trend before making hasty decisions. 

If you pull up a weekly chart of any of the three major indexes you’ll see that the S&P 500 ($SPX) and Nasdaq Composite ($COMPQ) are trending higher. The Dow Jones Industrial Average ($INDU) is also doing the same but it’s just hanging in there by a whisker.

The Ups and Downs

Comments from Fed Chairman Jerome Powell on Wednesday sent investors into selloff mode which spilled over into Thursday. But Friday’s slightly lighter-than-expected November PCE may have reversed investor sentiment. The broader stock market indexes moved higher spreading some holiday cheer to an otherwise gloomy week. 

What made the market move higher? It doesn’t make sense to look for a reason for the reversal in sentiment. Remember, it’s best to listen to the market and follow along. That said, a few interesting data points are worth noting.

The Federal Reserve indicated their focus was on a cooling of the labor market in their last few meetings. However, Wednesday’s comments from Chairman Powell suggested that the labor market is doing fine now but the Fed’s focus has switched to inflation. That may have made investors nervous and triggered the massive selling we witnessed on Wednesday. Friday’s light November PCE may have been a sigh of relief that brought back the optimistic sentiment. 

Despite the optimistic sentiment, one important news we can’t lose sight of is the possibility of a US government shutdown. A shutdown doesn’t necessarily impact the stock market but there may be inconveniences such as a reduction in government services that may send ripples through the economy.

The Year-End Party

As 2024 winds down, there will likely be very light trading days but there are some important events that unfold at the end of the year. There’s the January Effect which is when small-cap stocks start rallying. Small-cap stocks got a boost post US election but since late November they’ve been sliding lower. The daily chart of iShares Russell 2000 ETF (IWM) shows the small-cap trend is still bearish. 

FIGURE 1. DAILY CHART OF IWM. Small cap stocks took a big hit in December. Look for the full stochastic oscillator to cross above the 20 level with some follow-through to confirm their seasonal rally. Chart source: StockCharts.com. For educational purposes.

The full stochastic oscillator is deep in oversold territory and a cross above the 20 level would be encouraging for small-cap stocks. But there needs to be follow-through for the small caps to have a bullish rally.  

In addition to the January Effect, there’s the eagerly awaited Santa Claus rally, which is supposed to start next week. Friday’s price action may have reignited the possibility of having Santa show up this year. But I wouldn’t hold my breath just yet. 

If you look at the daily chart of the S&P 500 below, you’ll see that the three market breadth indicators displayed in the lower panels had started declining in late November, which should have signaled that the market was ripe for a selloff.

FIGURE 2. S&P 500 HOLDS ON TO SUPPORT. Friday’s price action may look slightly bullish but it needs more follow-through to confirm a reversal. Chart source: StockCharts.com. For educational purposes.

What is concerning is that Friday’s price action didn’t change the market breadth narrative. So even though Friday’s rise was sizeable, with a bullish engulfing pattern that closed at the 50-day simple moving average, I wouldn’t rush to buy the dip just yet and certainly not on triple-witching Friday. For all you know, there could have been some short-covering going on. I’ll need to see more follow-through of the upside move before adding more positions to my portfolio. At least the S&P 500 stayed above the support of its mid-November lows.

The daily chart of the S&P 500 Equal Weighted Index ($SPXEW) vs. the S&P 500 gives you an idea of how dominant the heavily weighted stocks influence the index.

FIGURE 3: S&P 500 VS S&P 500 EQUAL-WEIGHTED INDEX. The less-heavy weighted stocks in the S&P 500 are lagging the S&P 500. The equal-weighted index is trading below its 100-day moving average and has a long way to go before re-establishing its uptrend. Chart source: StockCharts.com. For educational purposes.

$SPXEW is trading below its 100-day SMA. Note that Friday’s high came close to the 100-day SMA. A close above the 100-day SMA would be the first sign of a trend reversal in the equal-weighted index. But one day’s action doesn’t make a trend. A series of higher highs and higher lows needs to be established before a trend has indeed reversed. It would be more confirming if the non-Mag Seven stocks showed signs of catching up with the big S&P 500 index.

Volatility Pulls Back 

One encouraging point to end the week is the Cboe Volatility Index ($VIX) closed below 20 (see chart below). Investors were getting so complacent towards the end of November but if you had noticed the VIX creeping higher, you’d have seen the selloff coming. 

FIGURE 4. DAILY CHART OF THE CBOE VOLATILITY INDEX ($VIX). The VIX was at very low levels from November but it slowly started moving higher signaling that investors were getting fearful. This led to Wednesday’s spike. Chart source: StockCharts.com. For educational purposes.

The pattern in the chart of the VIX shows that a similar pattern occurred from June to July, right before the August spike. Could a similar scenario unfold this time?

The Mark Twain quote, “History doesn’t repeat itself but it often rhymes,” explains it so well. So as you navigate the stock market, listen to the rhythm and follow its lead. 

The bottom line: Set up your Dashboard panels on the StockCharts platform and get a bird’s eye view of the stock market.

End-of-Week Wrap-Up

  • S&P 500 down 1.99% for the week, at 5930.85, Dow Jones Industrial Average down 2.25% for the week at 42,840.26; Nasdaq Composite down 1.78% for the week at 19,572.60
  • $VIX up 32.95% for the week, closing at 18.36.
  • Best performing sector for the week: Technology
  • Worst performing sector for the week: Energy
  • Top 5 Large Cap SCTR stocks: Applovin Corp. (APP); Palantir Technologies (PLTR); Reddit Inc. (RDDT); Astera Labs, Inc. (ALAB); MicroStrategy Inc. (MSTR)

On the Radar Next Week

  • November Durable Goods Orders
  • November New Home Sales
  • October S&P/Case-Shiller Home Prices

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

This week saw the fabled Hindenburg Omen generate its first major sell signal in three years, suggesting the endless bull market of 2024 may soon indeed be ending.  Why is this indicator so widely followed, and what does this confirmed signal tell us about market conditions going into Q1?  First, let’s break down the conditions that led to this rare but powerful bearish indicator.

Major Tops Tend to Have Consistent Patterns

Strategist Jim Miekka created the Hindenburg Omen in 2010 after analyzing key market tops through market history.  What consistent patterns and signals tended to occur leading into these market peaks?  He boiled it all down to three key factors which were consistently present:

  1. The broad equity markets are in an uptrend
  2. At least 2.5% of NYSE listings are making a new 52-week high and at least 2.5% are making new 52-week lows on the same day
  3. The McClellan Oscillator breaks below the zero level

One final step involves observing these three conditions occur at least two times within a one month period.  Looking at the chart, we can see that this completed Hindenburg Omen signal has only occurred three times since 2019: in February 2020 going into the COVID peak, in December 2021 just before the 2022 bear market, and December 2024.

What strikes me about this initial look at the indicator is that from a technical perspective, 2024 and 2021 have been remarkably similar.  Both years featured long-term uptrends with minimal drawdowns and low volatility.  So does that mean we are heading into another 2022 and a 9-month bear market for stocks?  Not necessarily.

Trend-Following Techniques Can Help Improve Accuracy

Switching to a weekly chart, we can bring in much more history to consider.  I’ve added red vertical lines to indicate any time we registered a confirmed Hindenburg Omen signal with at least two observations within one month.

Reviewing some of the recent market tops, we can see that this indicator did remarkably well in identifying topping conditions in 2021, 2020, and 2018.  Going back even further, you’ll notice signals around the 2007 and 2000 peaks as well.  But what about all the other signals that were not followed by a major decline?

People have quipped that the Hindenburg Omen have “signalled ten out of the last five corrections,” referencing the “false alarm” signals that did not actually play out.  I would argue that the key with indicators like this is to combine them with trend-following approaches, similar to how I approach bearish momentum divergences.

When I see a bearish divergence between price and RSI, or observe any other leading indicators like the Hindenburg Omen flash a sell signal, that doesn’t tell me to blindly take action!  What it does tell me is to be on high alert and look for signs of distribution that could serve to confirm a bearish rotation.  By patiently waiting for confirmation, we can improve our success rate and take action only when the charts compel us to do so!

S&P 5850 Remains the Level to Watch

So where does that leave us in December 2024?  While Wednesday’s post-Fed drop certainly represented a significant short-term distribution pattern, the longer-term trends for the S&P 500 and Nasdaq 100 are still quite constructive.

The S&P 500 broke below its 50-day moving average this week for the first time since September.  And while Wednesday and Thursday both saw the SPX close below the 50-day, Friday’s rally on improved inflation data took the major equity index right back above this key short-term barometer.

SPX 5850 has been my “line in the sand” since the November pullback, and as long as price remains above this threshold, I’m inclined to consider this market innocent until proven guilty.  And given the normal end-of-the-year window dressing common with money managers, I would not be surprised if the Magnificent 7 stocks and other large cap growth names remain strong enough to keep the benchmarks in decent shape into year-end.

But indicators like the Hindenburg Omen certainly have caused me to dust off the bull market top checklist, looking for signs of distribution that would imply further weakness.  One of my mentors and long-time StockCharts contributor Greg Morris once quipped, “All new highs are bullish… except the last one.”  I’m wondering if that early December high around 6100 may be the last one for a while!

One last thing…

I recently sat down virtually with author and technical analyst Chris Vermeulen to discuss the benefits of following asset flows, the dangers of holding dividend paying stocks during bear markets, how to navigate a potential breakdown in crude oil and energy stocks, and how investing and surfing are more alike than you might think!


RR#6,

Dave

PS- Ready to upgrade your investment process?  Check out my free behavioral investing course!

David Keller, CMT

President and Chief Strategist

Sierra Alpha Research LLC

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice.  The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.  

The author does not have a position in mentioned securities at the time of publication.    Any opinions expressed herein are solely those of the author and do not in any way represent the views or opinions of any other person or entity.

House lawmakers will soon vote on a bill to avert a partial government shutdown after a similar measure backed by President-elect Trump failed Thursday.

Congress is scrambling for a path forward as the clock ticks closer to the federal funding deadline, with a partial shutdown expected at 12:01 a.m. Saturday if no action is taken.

Speaker Mike Johnson, R-La., suggested there would be a House-wide vote Friday when leaving a closed-door House GOP meeting where leaders presented their plan.

‘I expect that we will be proceeding forward,’ Johnson said. ‘We will not have a government shutdown, and we will meet our obligations for our farmers who need aid, for the disaster victims all over the country and for making sure that military and essential services and everyone who relies upon the federal government for a paycheck is paid over the holidays.’

Meanwhile, the national debt has climbed past $36 trillion, and the deficit is over $1.8 trillion.

Multiple lawmakers told Fox News Digital the forthcoming legislation would extend current government funding levels through mid-March, a measure known as a continuing resolution (CR), paired with just over $100 billion in disaster relief aid for victims of storms Helene and Milton, as well as assistance for the agriculture industry.

Johnson’s aim is to bypass regular House procedures to get the legislation straight to a chamber-wide vote, a maneuver known as ‘suspension of the rules.’

In exchange for the fast track, however, the threshold for passage is raised from a simple majority to two-thirds of the House chamber, meaning Democratic support is critical.

Rep. Thomas Massie, R-Ky., told reporters he believed Johnson struck an agreement with House Minority Leader Hakeem Jeffries, D-N.Y. A longtime Johnson critic, Massie said he would not vote for the bill.

‘Trump wanted a debt limit increase, and now we’re bringing the exact same bill to the floor without the debt limit increase,’ Massie said.

Another Republican lawmaker argued Johnson would not move forward without Trump’s blessing.

‘We wouldn’t do it if they weren’t,’ Rep. Dan Meuser, R-Pa., said when asked if Trump and Elon Musk were supportive of the deal.

Trump and Musk led the conservative rebellion against the initial plan to avert a partial shutdown, a bipartisan deal that came from negotiations between the top two Democrats and Republicans in both Congressional chambers.

That bill, 1,547 pages, would have extended current government funding levels until March 14. However, GOP hardliners were angered by what they saw as unrelated measures attached to the bill, like a pay raise for congressional lawmakers, health care policy provisions and legislation aimed at revitalizing RFK Stadium in Washington, D.C.

It was scrapped as Trump and Musk threatened to force out of office any lawmaker who did not support pairing a CR with action on the debt limit.

The debt limit is suspended until January 2025 through a prior bipartisan deal, but Trump had pushed for Republicans to act on it now to avoid a messy, protracted fight early in his term.

The second iteration of the funding deal was much slimmer, coming in at 116 pages. It excluded the stadium bill and the congressional pay raise, but still included measures to fund the rebuilding of Baltimore’s Francis Scott Key Bridge and disaster aid funding. It also suspended the debt limit through January 2027.

A House vote on the second plan went down in flames, however, after 38 Republicans opposed to raising or suspending the debt limit voted with all but two Democrats to defeat the bill.

Johnson huddled with those holdouts Friday morning, along with Trump’s nominee to lead the Office of Management and Budget, Russell Vought, and Vice President-elect JD Vance. 

The latest plan that’s expected to get a vote does not act on the debt limit, but Johnson pledged in that closed-door meeting to raise the debt limit early next year as part of Republicans’ plans for a massive policy and spending overhaul.

During their closed-door meeting Friday, House GOP leaders unveiled their CR plan as well as a plan to raise the debt limit by $1.5 trillion, followed by $2.5 trillion in net spending cuts, multiple people told Fox News Digital.

It’s still not clear if the bill will sway all the 38 holdouts, however. Many had advocated for a plan to separate the CR from disaster relief and agricultural aid to vote on ‘single-subject’ bills.

But with a partial government shutdown looming just hours away, it appeared House leaders were running out of time to get that done by the end of Friday.


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White House press secretary Karine Jean-Pierre volleyed away reporters’ questions on Friday about President Biden’s lack of public appearances amid the ongoing government funding fight as a partial shutdown looms. 

Jean-Pierre refused to answer why the president has not spoken to the American public about his position, and she instead blamed Republicans, President-elect Trump, House Speaker Mike Johnson, R-La., and their ‘billionaire friends’ like Elon Musk for the chaos on Capitol Hill. 

‘Why hasn’t President Biden said anything in the public about this? Don’t the American people deserve to know why millions of federal workers could enter this holiday period without a paycheck?’ Jean-Pierre was asked during her daily press briefing. 

‘All Americans need to know that Republicans are getting in the way here and they are the ones who have created this mess. That’s the reality. That’s the fact,’ she responded. ‘This is not the first time we’ve been here. And the president has had this approach before. He understands how Congress works. He’s been around for some time. He understands what strategy works here to get this done.’

Jean-Pierre said Friday that Biden has held phone calls with Democratic leaders in Congress — Sen. Chuck Schumer, D-N.Y., and Rep. Hakeem Jeffries, D-N.Y. — but would not say if the president has spoken to the House speaker with regard to the ongoing discussions. 

‘He has been getting regular updates from his team. His team has been in touch with congressional members from both sides of the aisle,’ she said. 

A streamlined version of a bill backed by Trump to avert a partial government shutdown failed to pass the House of Representatives on Thursday night.

The bill, which needed two-thirds of the House chamber to pass, failed by a vote of 174 to 235. The national debt has soared to over $36 trillion, and the national deficit is over $1.8 trillion.

Jean-Pierre said Republicans went back on their word and ‘blew up this deal.’

‘Republicans need to stop playing politics with a government shutdown. And they are doing the bidding. They’re doing the bidding of their billionaire friends. That’s what we’re seeing at the expense of hard-working Americans,’ she said. 

‘There is a bipartisan agreement that Republicans tanked because of what they were directed to do by Elon Musk and President-elect Trump. That’s what happened. That is the reality that we’re in now.’

Musk, an outspoken critic of government waste, has weighed in on the spending bill debate and led a conservative revolt against the first 1,547-page bill due to its bloated spending provisions, calling for lawmakers who supported the bill to lose their seats.

He supported the newer, slimmer version, which was ultimately rejected by House members. 

Reporters tried several different ways to try and get Jean-Pierre to comment on the president’s role in the matter, but she continued to sidestep.

‘The president is the President of the United States, and he is leading,’ she told a reporter, to which he responded: ‘To be clear, the strategy is he is leading by staying in the background?’

‘The strategy is that Congress, Republicans in particular, need to do their jobs and get out of their own way and focus on the American people, not their billionaire friends. That is what needs to happen. And that’s what the president wants to see,’ she replied.

Jean-Pierre also warned that a shutdown could disrupt the presidential transition process for the incoming administration.

‘If there is a shutdown — and I don’t want to get too much into hypotheticals — but this is the reality, transition activities will be restricted with limited exceptions, obviously, such as to prevent imminent threats to the safety of human life or the protection of property,’ she said.

Meanwhile, House Majority Leader Steve Scalise, R-La., said Friday that Republicans have a ‘good plan’ to avoid a partial government shutdown. 

Rep. Stephanie Bice, R-Okla., added: ‘I think you come to an agreement, then you get together and sit down and figure out, you know, if we can get across the finish line. And that’s probably what we’re about to do now.’


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JERUSALEM — Turkish President Recep Tayyip Erdoğan could be on the brink of engulfing Syria in a new war with his slated invasion of the country’s north in an effort to decimate the U.S.-allied Syrian Kurds who helped President-elect Trump defeat the Islamic State in 2019.

The White House-brokered cease-fire between Turkey and the Kurdish-led Syrian Democratic Forces (SDF) has been largely ignored by pro-Turkey forces and Erdoğan, according to Fox News information from northern Syria. The SDF, which lost 12,000 fighters in its campaign to aid the U.S. in the victory over the Islamic State, is faced with an existential crisis.

An SDF source in northern Syria told Fox News Digital that the Syrian Opposition and the Syrian National Army, both of whom are aligned with Erdoğan’s government, ‘are building up around Kobani from the east and west directions. Assaults on the Tishreen Dam are still taking place intermittently. SDF confront them and push them back continuously. Additionally, the Kobani frontlines are subjected constantly to Turkish armed drones and artillery targeting. No support from any nation. Just the U.S. helping with mediation between us and the Turks aims to have a permanent cease-fire.’

According to the SDF source, ‘The main attackers are called SNA, which constitute the Al Hamza division and Sultan Suliman Shah division, who are loyal to the Turkish MHP party leader Dewlet Bahçelî.’ Erdoğan is aligned with the extremist Nationalist Movement Party (MHP).

Simone Ledeen, a former U.S. Deputy Assistant Secretary of Defense for the Middle East, told Fox News Digital, ‘The U.S. must reinforce support for the SDF — using all available tools to ensure they remain capable on the ground — while addressing the reality that Turkey, our NATO ally, is enabling a rapidly expanding jihadist threat.’ 

When approached by Fox News Digital, a U.S. State Department spokesperson said, ‘Syria is in a fragile state right now. We don’t want to see any party take an action to pursue their own unilateral interests over the broader interests of the Syrian people. We continue to talk to the Government of Türkiye and others in the region about a path forward that de-escalates tensions, not one that escalates them. This is a time to increase stability, not to further devolve into fighting.’

The spokesperson added, ‘Our focus is on promoting a Syrian-led political process in the spirit of U.N. Security Council resolution 2254, while ensuring the enduring defeat of ISIS. Given that we know ISIS exploits instability, it’s incumbent on all countries with influence on the ground — including Türkiye — to promote stability, dialogue, and restraint. The United States supports Syria’s territorial integrity.’

The Biden administration’s alleged failure to rope in Erdoğan aggression could mean the escape of 10,000 Islamic State terrorists held in SDS-run prisons. The SDF has had to redeploy its forces to counter Turkey’s campaign to depopulate northern Syria of SDS fighters. The reemergence of the Islamic State in Syria could adversely affect American security, argue counter-terrorism experts.

Sen. John Kennedy, R-La., declared repeatedly in an address to Erdoğan in Congress, ‘Leave the Kurds alone.’ He added, ‘The Kurds are America’s friends… The people most responsible for helping us, most responsible for destroying ISIS, were the Kurds.’

Kennedy warned Erdoğan, ‘If you invade Syria and touch a hair on the head of the Kurds, I’m going to ask this United States Congress to do something,’ noting, ‘Our sanctions are not going to help the economy of Turkey.’

Turkey’s economy is wobbly, and potent U.S. economic sanctions could destabilize Erdoğan’s government.

When asked about the reports of Turkish-aligned forces attacking Syrian Kurds, a spokesman for Turkey’s Foreign Ministry told Fox News Digital, ‘The mentioned reports are groundless. Türkiye never had a problem with the Syrian Kurds — to the contrary, embraced them and supported them to become part of a unified Syria. The clear distinction should be made between the Syrian Kurds and the ones associated with the terrorist organizations.’

The spokesman added, ‘The continued dedication and sacrifices of Türkiye in the fight against Daesh (ISIS) should not be overlooked. At the end of the day, Türkiye remains as the most credible and capable actor in the region in the fight against Daesh.’ 

Turkey’s government uses Daesh, the transliteration of the Arabic acronym Islamic State in Iraq and Syria (ISIS), to designate the Sunni Jihadi terrorist movement. 

When confronted with the SDF statement that the U.S.-led mediation efforts collapsed because Turkey failed to accept key points, ‘including the transfer of remaining Manbij Military Council fighters and civilians wishing to move to safer areas within north and eastern Syria, as well as the resolution of the issue concerning the transfer of Suleiman Shah’s remains to their former location,’ the Turkish Foreign Ministry spokesman said, ‘It is not Türkiye escalating the situation on the ground, it is the determination of Syrian people to act against the terrorist organization.’

He added, ‘The Syrian people, empowered by the confidence gained from overthrowing the Ba’ath regime, are striving to expel the PKK/YPG/’SDF’ terrorist organization, which has long occupied their territories and subjected them to violence and oppression. They have successfully removed the organization from Manbij and Deir ez-Zor, and are on the verge of doing so in Raqqa. At the end of the day, this is merely the reflection of the will of the Syrian people.’

PKK is an abbreviation for the Kurdistan Workers’ Party, an organization classified by the U.S. and the EU as a terrorist entity. The U.S. has a long-standing military alliance with the Syrian Kurdish military organization, The People’s Defense Units (YPG), in Syria. The YPG is part of a broader organization known as the Syrian Democratic Forces (SDF) and played a key role in dismantling the Islamic State in Syria.

In a growing act of bi-partisan congressional support for the Syrian Kurds, lawmakers are sending messages to the Biden administration and the incoming Trump administration. 

On Wednesday, Sens. Chris Van Hollen, D-Md., and Lindsey Graham, R-S.C., threatened to impose sanctions on Erdoğan. The senators wrote in a joint statement, ‘While Turkey has some legitimate security concerns that can be addressed, these developments are undermining regional security, and the United States cannot sit idly by.’

‘In the wake of the Assad regime’s fall, Turkish-backed forces have ramped up attacks against our Syrian Kurdish partners, once again threatening the vital mission of preventing the resurgence of ISIS,’ they said.

Several requests for comment from Fox News Digital to President-elect Trump’s spokespeople and his incoming National Security Council adviser, Rep. Michael Waltz, R-Fla., were not immediately returned.

Shukriya Bradost, an expert on the Kurds, who was born and raised in the Kurdistan region of Iran, told Fox News Digital, ‘Turkey’s most pragmatic option is to engage in dialogue with the Kurdish administration in Syria, facilitated by the United States. A cooperative relationship could serve both Turkish and Kurdish interests, stabilizing the region while addressing Turkey’s security concerns and the experience that Turkey already has with the Kurdistan Region of Government in Iraq (KRG).’ 

She added, ‘Turkey has already shown that it can cooperate with a Kurdish administration in Syria. In the past, oil from northern Syria flowed through KRG into Turkey, demonstrating the potential for economic and political collaboration. This precedent proves that mutual interests can override historical hostilities.’

Bradost recommended that Washington ‘broker a historic agreement that addresses Turkey’s security concerns without dismantling Kurdish autonomy in Syria. Much like the Abraham Accords brought unprecedented diplomatic breakthroughs in the Middle East, a U.S.-facilitated deal between Turkey and the Syrian Kurds could offer a transformative path forward.’

On Friday, the State Department’s top diplomat for the Middle East, Barbara Leaf, met with representatives of the U.S.-designated terrorist organization Hayat Tahrir al-Sham (HTS) in Damascus. HTS and its Islamist allies ousted the regime of Syrian dictator Bashar Assad less than two weeks ago. 

Leaf told reporters after the meeting that there is a cease-fire around Manbij and there are concerns about ‘the effects of fighting near the Tishreen Dam and damage to that dam, especially if it were significant structural damage.’ She added the U.S. is working with Turkish authorities and the SDF for a cease-fire around Kobani. 


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