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Art Schallock, a World War II veteran who collected three World Series rings pitching with the New York Yankees in the 1950s, has died at 100.

Schallock had been MLB’s oldest-living player since 2022.

‘We are saddened to learn of the passing of Art Schallock, who we celebrated last year on his 100th birthday,’ the league announced in a social media post on Saturday. Schallock would have turned 101 next month.

Schallock pitched for the Yankees (1951-55) and Baltimore Orioles (1955) during his MLB career. The left-hander won three World Series rings with the Yankees in 1951, 1952 and 1953, although he only appeared in one World Series game, in 1953. Schallock appeared in 58 career games (14 starts), allowing 199 hits, 76 earned runs and 11 home runs, while recording 77 strikeouts in 170.1 total innings pitched.

‘I had a great career; I can’t complain. I played with some of the best that ever played and I have three World Series rings,’ Schallock said during a 2019 interview with ‘This Great Game’ (TGG). ‘Sure, playing in the majors was stressful at times, but overall I loved every minute of it and I always look back fondly.”

Born on April 25, 1924 in Mill Valley, California, Schallock played baseball, golf and tennis at Tamalpais High School. After graduating, Schallock was drafted in 1943 and served in the U.S. Navy as a radio operator aboard the USS Coral Sea. 

‘I was two weeks out of high school when they drafted me. I went in the Navy and I didn’t see a baseball for three years,’ Schallock told TGG.

Schallock attended Marin Junior College after he was discharged from the Navy and went on to get signed by the Brooklyn Dodgers in 1946. He pitched for various minor league teams before the Dodgers traded him to the Yankees on July 12, 1951. Schallock made his major league debut for the Yankees four days later on July 16, 1951. To do so, the Yankees optioned Mickey Mantle to the minors to free up a roster spot.

“To get on the Yankees’ roster, they had to send someone down and it turned out to be Mickey Mantle,’ Schallock said in 2019. ‘He came back quickly, but for many years Mickey and I would joke about it. … Later, when I was pitching for the Orioles, he hit a monster home run against me and smiled all around the bases.”

Schallock became MLB’s oldest-living player in July 2022 following the death of George Elder. Pitcher Bill Greason (DOB: 9/3/1924) is now the oldest-living former player at 100.

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TEMPE, Ariz. − He is one of only four players in history to hit 700 home runs, along with Babe Ruth, Hank Aaron and Barry Bonds.

Now, Albert Pujols is daring to go where no 700 HR Club member has gone before.

Pujols, 45, wants to become the first to be a major-league manager.

“For me, I’ve always been serious about everything that I do in this game,’ Pujols told USA TODAY Sports, “and now I’m serious about managing. This game has done so much for me, and now, I want to give back.

“I’m ready.’

Life after retirement

Pujols, the 11-time All-Star, three-time MVP, two-time World Series champion who hit 703 homers and drove in 2,218 runs, retired after the 2022 season. He wasn’t sure what he wanted to do next, but knew he wanted to stay in the game. He became a special assistant to MLB commissioner Rob Manfred. He worked as an analyst for the MLB Network. And he showed up every spring as a guest instructor for the Los Angeles Angels as part of his 10-year, $10 million personal services contract.

Then, last February when Jose Miguel Bonetti, one of the owners of Leones del Escogido of the Dominican Republic Professional Baseball League, telephoned Pujols once again trying to persuade him to manage. It was a short winter-ball season. He could be home in the Dominican Republic where his wife, Nicole Fernandez, the daughter of former Dominican president Leonel Fernandez, was born and raised.

Why not?

The next thing Pujols knew, he’s leading Leones del Escogido to the playoffs, then the Dominican League championship, then the Caribbean Series championship. Now, the Dominican Republic national team, under GM Nelson Cruz, is hiring Pujols to manage its star-studded group for the 2026 World Baseball Classic.

Pujols can’t wait, but there could be one little snag to those plans.

He might be tied up managing a major-league team next spring.

“He’s ready,’ said Hall of Fame manager Tony La Russa, who managed Pujols 11 years in St. Louis. “And he’s going to be great.

“You talk about integrity. You talk about his IQ. You talk about his discipline. I call him APP, Albert Perfect Pujols. When a guy has that much to offer and has so much love for the game, the game benefits when he wants to stay active and share.’’

Says Angels GM Perry Minasian: “I remember the old-school managers back in the day whether it was Tom Kelly or Sparky Anderson or Tommy Lasorda or Whitey Herzog, there was a presence when they walked into the room. The volume in the room would go a little lower. The shoulders of the players would go back a little more. And Albert has that presence wherever he goes.

“He’s just a winning guy, he’ll be great whatever he wants to do.’

Mentors convinced Pujols will be successful

There’s a long list of All-Star and Hall of Fame players who have struggled as managers. Many of the managerial greats actually had short or mediocre playing careers. But it’s a lazy narrative to suggest bench players make the best managers. There are plenty of cases where All-Stars became Hall of Fame-caliber managers. Joe Torre was a nine-time All-Star and batting champion, leading the Yankees to four World Series enroute to the Hall of Fame. Dusty Baker was a two-time All-Star, two-time Silver Slugger and a Gold Glove winner, leading five different teams to the postseason winning three pennants and a World Series title. Lou Piniella was an All-Star and two-time World Series champion, and led three different teams to the playoffs and a World Series championship.

“The key is not whether you’re a great player or not, but whether you have that love for the game,’ La Russa said. “Torre, Dusty, they love the game. And Albert loves the game. He always had the mental side commitment, and was inquisitive, always talking about the game.

“I don’t want to be critical, but there are guys who were great players in our game, gave it all they got, and then needed to back off. So, if you have somebody with the kind of greatness like Albert, and is still motivated to stay close to the game, it’s a win-win for all of us.’’

San Diego Padres manager Mike Shildt, who has known Pujols since 2005 in their days together in St. Louis, is convinced that Pujols will be an overwhelming success.

“I truly believe he’s doing to be a tremendous asset to any organization,’’ Shildt said. “A lot about managing is caring about people, and Albert does that. He has such attention to detail. He’s very clear in his messaging, a very principled guy with a great reputation. Really, he’s almost out of central casting for a manager.

“You always observed his talent, but you appreciated the work and how this guy competed. Some guys are naturally gifted, but Albert used his brain and talent to become one of the best right-handed hitters in the history of the game. I never saw this guy give away anything in work or competition. I remember one spring it’s 7 in the morning and he’s fielding grounders from [coach] Dave McKay. He says, ‘Albert, you may want to ease into this.’ Albert says, ‘What do you mean? It’s time to go. It’s time to work.’ There was another time when it was the first spring-training game of the year, I look around, and there’s Albert sitting there, grinding a towel over his head with that grimace, stalking the pitcher like he was stalking his prey.

“So, when he told me last year that he was going to manage in winter ball, I knew it wasn’t some gimmick. He was going to take it seriously. It was clear he had a tremendous experience, and now he’s ready to take the next steps. He has such love and passion for the game that it’s important for the game to recognize and support a guy like Albert with his legacy.’

Pujols wants to give back to the game

The way Pujols sees it, it’s a way to give back. He certainly doesn’t need the money, earning about $350 million in his playing career. He will cruise into the Hall of Fame when he’s eligible for induction in 2028. And he has plenty going on in his life with four kids and new wife without putting in 12-hour days at the ballpark.

“But at the end of the day, man, you want to give back,’ Pujols said. “This opportunity came really quick for me because I wasn’t looking for it.’’

When Bonetti approached him for the third time to manage, Pujols still wasn’t sure he was ready. He was out of the game only for a year. He was newly married. And he knew there would be a whole lot of pressure to succeed.

Bonetti persisted, calling and calling. He finally convinced Pujols to go to lunch for a serious conversation. By the time Pujols put down his knife and fork, he agreed.

“I wasn’t curious about how much I’d like it,’’ Pujols said, “because when you’re in the game as long as I’ve been, this is all you know. So, I knew I’d like it. And I’m the kind of person if I’m going to try something, I’m going to take it seriously. I wasn’t going to waste my time.

“For me, it was the competition that I really loved. And doing it in your country, the team that you grew up rooting for as a little boy, it was pretty sweet. It meant so much for me and everyone in the Dominican.’

And, yes, that familiar feeling of being in the middle of a championship celebration sure felt good, even if there was no bottle of champagne to be found.

“Down there, they don’t use champagne,’’ Pujols said. “It’s just beer and water. They don’t use champagne. It’s too expensive.’

Anyone who has been around Pujols wasn’t surprised in the least that he delivered a championship. Angels owner Arte Moreno fired off a congratulatory text message to him after the game. It simply re-affirmed Minasian’s belief that Pujols could be a great manager.

“I always felt his baseball acumen is second-to-none,’ Minasian said. “His desire to win is second-to-none. And his ability to connect with all different kind of players, and make players believe in themselves is a hell of an attribute.

“Just the person, take the baseball part of it out, is impressive. The honesty. The belief. Everything. I think he can do whatever he wants in this game.’’

Next stop: 2026 World Baseball Classic

Next stop: The World Baseball Classic. It could feature a Who’s Who lineup of Manny Machado, Juan Soto, Julio Rodriguez, Jose Ramirez, Vladimir Guerrero Jr., Elly De La Cruz, Julio Rodriguez, Fernando Tatis, Rafael Devers and Ketel Marte.

“That,’ Pujols said, “is going to be awesome. A lot of responsibility because you’re representing not just one team, but an entire country. I’m pretty pumped up.’’

Just hearing Pujols’ introductory speech to this array of talent could be worthy of a documentary. The Angels players still are raving about Pujols’ 45-minute meeting with their hitters on Monday, with La Russa stopping in and had pitchers even sneaking into the meeting.

“It was so good,’ Angels three-time MVP Mike Trout said. “He talked about approach, preparation, routine, and how important it was to carry that routine out. For a guy with all of that knowledge, and being in the trenches for that long, and being on teams that won, it was great to hear his message.

“I think he’s going to be a great, great manager.’

Pujols called his speech a collection of knowledge from his early years with the Cardinals, listening to stories from Lou Brock, Stan Musial, Bob Gibson, Red Schoendienst, Joe Buck and Mike Shannon. They took the time to talk to him, and now he’s paying it forward.

“Now I have the responsibility to help these young players,’ Pujols said. “That’s my job. I need to share that same knowledge. I love to talk about the game and talk about the blessings that the Lord has given me in my career.

“I told them, ‘You see how much passion comes out of me talking to you guys, and it’s because I was taught by so many other great players before me. They opened that path and helped me to get to where I am today.’’

Pujols will now wait to see if anyone calls this summer or in the off-season with any managerial vacancies. If someone is interested, they’ll know where to find him.

“I’m open, you know,’’ Pujols said. “Right now, I have the responsibility with the World Baseball Classic, but if any opportunity opens up and somebody call me and wants to interview me, I will evaluate it for sure.

“I’d love the opportunity to give back to the game of baseball. I know I don’t have the experience as a manager, but 23 years in this game, you go through a lot. I’m talking about experience from baseball, being on the field and in the locker room. It’s not going from a university to try to be a manager and not having any baseball experience. Old-school mentality can help young mentality. I’ve learned from some of the best managers in the game. I believe with my experience, and the way I can communicate with players, I can have success.

“I just need someone to take a chance on me. I don’t know how long it’s going to take, but I’ll be in the corner waiting. If they give me the opportunity, I can promise you that I’m going to do my best to prepare the team to win a World Series. Is that a guarantee? No. But I can guarantee that I will prepare the guys to play the game just like I did with that mentality and toughness.’

It’s not all that different from three-time World Series champion Buster Posey becoming the San Francisco Giants’ president of the baseball operations. Or All-Star pitcher Chris Young to becoming GM of the Texas Rangers and leading them to the 2023 World Series title. Or for Hall of Famer Derek Jeter to become CEO of the Miami Marlins for four years.

“I love it,’ said Los Angeles Dodgers manager Dave Roberts, who managed Pujols in 2021. “It’s just really rare that a guy who accomplished so much on the field wants to continue to grind in coaching and managing.

“But I think the game needs him. I think he needs the game as well, clearly.’

Certainly, for what Pujols has given to the game, it’s time for the game to give back to him, too.

“People that have given so much to the game,’ Minasian said, “and still have a lot to give even after playing, is going to have a positive effect on any organization.

“The game is better with Albert Pujols in it.’

Follow Nightengale on X: @Bnightengale

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Kansas City Chiefs wide receiver Xavier Worthy was arrested on Friday and booked on assault charges.

However, authorities in Williamson County, Texas, have declined to press charges ‘at this time,’ according to the Austin American-Statesman.

County jail records show that Worthy was arrested and charged with assault against a family or household member by impeding their breathing or circulation.

‘We are aware and gathering information,” the Chiefs said in a statement Saturday morning.

That charge is a third-degree felony in Texas and is defined as ‘intentionally, knowingly, or recklessly impeding the normal breathing or circulation of the blood of the person by applying pressure to the person’s throat or neck or by blocking the person’s nose or mouth.’ It is punishable with a sentence of two to 10 years in jail and/or a fine not to exceed $10,000.

Williamson County District Attorney Shawn Dick on Saturday evening told the Statesman that, after speaking with multiple witnesses, his office is not accepting the case at this time.

“After further investigation by the Williamson County Sheriff’s Office and further discussion with a third-party witness, Mr. Worthy and his attorneys, this case is being declined at this time pending completion of the investigation by the Williamson County Sheriff’s Office,’ reads an email from Dick’s office. ‘Mr. Worthy and his lawyers are fully cooperating with this investigation. 

‘We will continue to evaluate the case.  As is our practice with all declines, should you develop additional information indicative of probable cause in this case, our office will consider that information and may present the case at that time to a Williamson County Grand Jury.”

Worthy’s lawyers said in a statement that the allegations against their client were ‘baseless’ and that Worthy and a woman were in a dispute and she was asked to leave Worthy’s house, adding that the woman caused property damage and scratched Worthy’s face. The attorneys said Worthy did not want to press charges.

‘We will continue to cooperate with Williamson County authorities as we have full faith their thorough investigation will support Mr. Worthy’s innocence,’ the attorneys, Chip Lewis and Sam Bennett, said in a statement.

The 21-year-old Worthy, who played college football at the University of Texas, was selected with the No. 28 pick in the 2024 NFL draft by the Chiefs after breaking the 40-yard dash record at the NFL Scouting Combine with a time of 4.21 seconds.

‘We are aware of the matter and have been in contact with the club,’ the NFL said in a statement Saturday.

Worthy caught 59 passes for 638 yards and six touchdowns and rushed for three touchdowns in his rookie season, adding three more touchdown catches in the playoffs.

(This story has been updated to add new information.)

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Ronnie Stanley is signing a deal to remain with the Baltimore Ravens for the 2025 NFL season and beyond, per multiple reports.

The contract extension is for three years and $60 million with $44 million guaranteed, per The Athletic’s Diana Russini.

Stanley spent the first nine years of his career in Baltimore after being a first-round pick in the 2016 NFL draft. He developed into one of the NFL’s best offensive tackles and was named an All-Pro first teamer in 2019.

Stanley struggled with injuries after his All-Pro nod. He played in just seven games combined between the 2020 and 2021 NFL seasons and slowly worked his way back into top form the following two seasons.

Stanley started every game for the Ravens in 2024, marking the first time in his career he had achieved that feat. His 1,089 snaps played ranked ninth league-wide among offensive tackles, and he finished the season as Pro Football Focus’ 37th-ranked tackle among 81 qualifiers.

That said, Stanley graded as the 16th-best pass-blocking tackle in the NFL last season with a mark of 80.9. He allowed only two sacks and 35 pressures on 575 pass blocking snaps and played a big part in keeping Lamar Jackson clean during his best statistical season.

Stanley was whistled for 13 penalties in 2024. He will look to cut down on those as he prepares for his age-31 season in 2025.

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Here’s a quick recap of the crypto landscape for Friday (March 7) as of 9:00 p.m. UTC.

Bitcoin and Ethereum price update

Bitcoin (BTC) is currently trading at US$86,934.56, reflecting a 2.5 percent decrease over the past 24 hours. The day’s trading range has seen a high of US$90,940.27 and a low of US$86,701.87.

Ethereum (ETH) is priced at US$2,155.47, marking a decrease of 2.3 percent over the same period. The cryptocurrency reached an intraday high of US$2.244.58 and a low of US$2,145.98.

Altcoin price update

  • Solana (SOL) is currently valued at US$144,38, up 0.1 percent over the past 24 hours. SOL experienced a high of US$149 and a low of US$141.65 during Friday’s trading session.
  • XRP is trading at US$2.46, reflecting a 5.5 percent decrease over the past 24 hours. The cryptocurrency recorded an intraday high of US$2.55 and a low of US$2.39.
  • Sui (SUI) is priced at US$2.68, showing a 4.8 percent decrease over the past 24 hours. It achieved a daily high of US$2.84 and a low of US$2.66.
  • Sui (SUI) is priced at US$2.68, showing a 4.8 percent decrease over the past 24 hours. It achieved a daily high of US$2.84 and a low of US$2.66.

Crypto news to know

Crypto summit: Sentiment positive, details limited

The highly anticipated White House crypto summit, hosted by President Trump and David Sacks, brought together key industry leaders and policymakers to discuss the future of crypto and blockchain regulations.

The event provided a platform for attendees such as Ripple CEO Brad Garlinghouse, Strategy’s (NASDAQ:MSTR) Michael Saylor, and Chainlink co-founder Sergey Nazarov to share their insights and offer feedback on the industry’s needs.

The summit was expected to primarily focus on strengthening US leadership in the digital asset industry and fostering an environment that promotes innovation while ensuring appropriate regulatory oversight.

Industry watchers were also hoping for clarity on the executive order (EO) issued on Thursday evening establishing a Bitcoin reserve and digital asset stockpile.

Although US Treasury Secretary Scott Bessent said he would discuss the next steps for possibly acquiring more Bitcoin during a CNBC Squawk Box interview on Friday morning, the government’s announcement that it did not intend to purchase more Bitcoin resulted in a subdued market response.

Crypto assets pulled back further after a senior White House official stated that Trump’s mention of ADA, XRP, SOL, Bitcoin, and Ether as examples of cryptocurrencies included in a strategic reserve should not be overinterpreted.

Market experts had mixed reactions. Some experts called the EO a symbolic move, while others hailed it as a turning point in the market’s development.

Dick Lo, CEO of TDX Strategies, said “Initial disappointment as the market had built up high expectations leading up to the announcement. However, the news is (unambiguously) positive: It would have been unrealistic to expect new buying without a plan on how it would be funded. An important distinction has been made between Bitcoin and the rest of crypto, i.e. not a single dollar will be spent buying altcoins.”

The summit wrapped up with positive sentiments toward Trump’s leadership and the joint effort to advance the digital asset industry, though it didn’t introduce many new details. Trump shared his desire to see legislation enacted before the August break and offered congratulations to attendees.

Texas Senate passes Bitcoin strategic reserve bill

The Texas Senate voted to pass Bitcoin strategic reserve bill SB-21 in a 25-5 vote on Thursday after a fierce debate between Texas State Senator Charles Schwertner, who introduced the legislation, and Democratic Senator Roland Gutierrez of San Antonio.

Gutierrez raised concerns about Bitcoin’s volatility and the potential risks associated with allocating state funds to cryptocurrency.

“When the economy is down, Bitcoin is down, and the fluctuations on this stuff is insanity,” he said. “We have so many real concerns in this state, and so many of our citizens that’re asking for real help, and the last thing that we need to do is go benefit some techno bro.”

Schwertner argued that a crypto reserve would allow Texas to diversify its investment approach and “participate competitively in the evolving digital, financial economy.”

“We don’t have stacks of dollar bills and safes like we did in medieval times. What we have is digital currency,” he told the floor.

The proposed legislation would authorize the state comptroller to purchase, hold and manage Bitcoin and other digital assets as a hedge against inflation and economic volatility. Funding would come from legislative appropriations and private donations. A committee would also be established to advise the comptroller on cryptocurrency investments, making Texas the first US state to create a cryptocurrency reserve if the bill is signed into law.

Trump memecoin generates US$350 million in revenue

Analysis by the Financial Times revealed that Trump’s cryptocurrency project has generated at least US$350 million in revenue from the launch of the Official Trump (TRUMP) memecoin, with roughly US$314 million from token sales and US$36 million from fees on the Solana blockchain.

Following the launch of the Trump memecoin, Trump-linked accounts reportedly sold 100 million Trump tokens at a price below US$1.05. The analysis suggests that after withdrawing the initial USDC earnings, Trump wallets reinvested US$291 million in USDC into another liquidity pool, perhaps to support the market.

The report also highlighted that these Trump-linked wallets sent approximately 14.7 million Trump tokens to 10 different exchanges, including major platforms such as Binance, Bybit and Coinbase (NASDAQ:COIN). While the exact extent of the financial gains from these transactions remains unclear, the analysis indicates that these other transactions may have generated additional profits.

The Financial Times also found that the Trump accounts spent US$1 million on their own tokens at US$33.20 on January 19 and January 20 to stabilize the price amid the TRUMP decline following the launch of Melania Trump’s MELANIA memecoin. The report determined that the 831 million TRUMP tokens still held by Trump-affiliated accounts are estimated to have a notional value of US$10.8 billion.

The memecoin’s official website, Gettrumpmemes.com, states that The Trump Organization-affiliated CIC Digital and Delaware-based Fight Fight Fight collectively own 80 percent of the tokens; however, Trump’s profits are not known.

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

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

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Tech stocks were active this week, impacted by a broader market correction, key announcements and funding rounds.

Google’s (NASDAQ:GOOGL) introduction of AI Mode, a powerful new search tool for complex, multi-part questions, as well as Shield’s estimated US$5.3 billion valuation after securing US$240 million in a new funding round offer a snapshot of the rapid innovation and investor interest driving the tech landscape right now.

With that, here’s a look at other key events that made tech headlines this week.

1. CoreWeave plans IPO, faces Microsoft contract concerns

CoreWeave filed for a New York initial public offering (IPO) on Monday, seeking to raise US$4 billion and an expected valuation of more than US$35 billion.

On Wednesday, the Financial Times reported that Microsoft (NASDAQ:MSFT) pulled out of some of its agreements with CoreWeave. Anonymous sources didn’t give details as to why the startup’s biggest customer cancelled some contracts but alluded to Microsoft’s reduced confidence in CoreWeave after the company allegedly missed deadlines and ran into other delivery issues.

CoreWeave generates over 60 percent of its revenue from Microsoft, to which it supplies computing power from its data centers for running large-scale AI models, including OpenAI’s ChatGPT.

This multi-billion-dollar partnership represents a concentration risk. In its filing, CoreWeave stated that its business, operating results, financial condition and/or prospects could be negatively impacted by changes in its overall strategic relationship with Microsoft, including changes in demand and contractual agreements. Contracts between the two companies reportedly have Microsoft set to spend more than US$10 billion on CoreWeave services by 2030.

CoreWeave’s IPO filing revealed a US$1.9 billion revenue for 2024, alongside substantial debt and net losses. The company has raised US$14.5 billion through debt and equity financing, including US$11 billion in asset-backed loans. This aggressive expansion has led to escalating net losses, which reached US$863 million in 2024, up from US$594 million in 2023 and US$31 million in 2022.

The company’s reliance on chip supplier Nvidia (NASDAQ:NVDA) also poses supply chain risks, particularly concerning potential delays with Nvidia’s Blackwell GPUs.

After publication, CoreWeave delivered a statement to Data Center Dynamics, clarifying “there have been no contract cancellations or walking away from commitments. Any claim to the contrary is false and misleading.”

In a strategic move to further solidify its position in the AI space, on Tuesday, CoreWeave announced that it would acquire AI development startup Weights and Biases. The press release did not say how much the deal was worth, but unnamed sources for The Information said the deal could be valued at around US$1.7 billion.

2. TSMC fluctuates amid investment and political concerns

An interplay of factors, including geopolitical tensions and economic uncertainty, contributed to fluctuating TSMC’s (NYSE:TSM) share prices this week, both in the US and Taiwanese markets.

US shares were down at the start of the week due to concerns of economic upheaval and a potential trade war with China. Its Taiwanese shares fell after the company announced a US$100 billion investment in US chip production, including three new manufacturing plants, two packaging facilities and a research and development center.

Trump’s intention to end the US$52 billion CHIPS Act, which he expressed during his Tuesday evening Congressional Address, added to investor concerns. The CHIPS Act, an initiative from the Biden administration, has pledged funding to TSMC as well as fellow benefactors Intel (NASDAQ:INTC), Samsung (KS:5930) and Micron (NASDAQ:MU) to fund sizeable infrastructure projects. Intel received the largest portion, a US$7.9 billion grant to support commercial factories and another US$3 billion to produce military chips. TSMC is set to receive US$11.6 billion in direct funding and loans.

TSMC’s CEO, C.C. Wei, held a press conference on Thursday to address concerns from Taiwanese critics of the planned US investment who worry that moving advanced manufacturing will lessen US incentive to defend Taiwan from a Chinese invasion. The country’s Chinese Nationalist Party, the KMT, said the investment was a threat to national security.

Wei defended the move, stating it was a response to increased customer demand for AI chips. In a separate statement, Taiwan’s Economics Minister said that TSMC’s most advanced processes would stay in Taiwan until at least 2026.

He did not confirm whether Trump had guaranteed the continuation of CHIPS Act subsidies in light of the new investment pledge but said that the company could proceed without them, emphasizing the desire for fairness.

3. NVIDIA chips to power OpenAI and Oracle’s Stargate data center expansion

A source for Bloomberg said that OpenAI and Oracle (NYSE:ORCL) are preparing to add 64,000 of NVIDIA’s GB200 semiconductors to a new data center being built in Abilene, Texas, the first of the US$100 billion Stargate project announced by the Trump administration in January.

According to the report, the chips will be added to the center in phases, with an initial 16,000 chips set to be completed by this summer and the entire project complete by 2026.

4. Tech stocks share mixed earnings results

This week also saw a mix of earnings reports from major tech companies:

        5. Shift to practical AI continues with agents, specialized applications

        Key developments this week signaled a continuing shift toward AI agent expansion across both commercial and government sectors.

        On Tuesday, Reuters reported on a new division from Amazon (NASDAQ:AMZN) Web Services (AWS) dedicated to AI agents, indicating a strategic focus on automated task solutions for cloud computing clients. The plans were officially announced by Amazon Vice President of AI and Data Swami Sivasubramanian via a LinkedIn post on Wednesday.

        “This new capability – powered by Claude 3.7 Sonnet, Anthropic’s most intelligent model to date – allows developers to have more collaborative, interactive conversations with Q Developer that works with them, asks them feedback and makes iterative changes as they go along,” Sivasubramanian wrote.

        Later, during a public interview at Morgan Stanley’s Technology, Media and Telecom Conference in San Francisco on Wednesday, Meta’s (NASDAQ:META) chief product officer Chris Cox said the company’s upcoming Llama 4 model will have reasoning capabilities powerful enough to create AI agents capable of using a web browser and other tools.

        He described how more advanced AI agents can be built on a foundation of embeddings, enabling them to complete specific business-related tasks like filing receipts. These comments follow a previous CNBC report of Meta’s plans to debut a stand-alone AI app sometime during the second quarter and echo similar statements made to CNBC’s Julia Boorston by Clara Shih, Meta’s head of business AI.

        “We’re quickly coming to a place where every business, from the very large to the very small, they’re going to have a business agent representing it and acting on its behalf, in its voice — the way that businesses today have websites and email addresses,” Shih said, explaining that Meta is working to develop business AIs for smaller businesses who may not be able to hire large AI teams.

        Adding to this trend, OpenAI is reportedly planning to introduce tiered subscriptions for specialized AI agents, with prices ranging from US$2,000 to US$20,000 per month to reflect varying levels of capabilities.

        Also, the US Department of Defense has begun integrating AI agents through collaborations with Scale AI, Microsoft, and Anduril for military operations, including simulation and decision support.

        These moves signal rapid growth in the adoption of AI agents, marking a shift toward practical AI implementation and coincide with broader market shifts showing increased investment in AI applications, as noted in recent financial reporting from Bloomberg’s Kate Clark. This reflects a wider movement beyond foundational AI models, focused on delivering specialized, user-focused AI tools and services, whether through autonomous agents or dedicated applications.

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

        This post appeared first on investingnews.com

        One thing to understand about sentiment measures is that they are contrarian. If investors are too bullish or too bearish, everyone has jumped on the bandwagon and now it is time for the wheels to fall off. Right now we are seeing extraordinarily bearish sentiment coming out of the American Association of Individual Investors (AAII).

        We have well over 50% of participants bearish on the market. As you can see that is a comparatively high reading, something we don’t see very often. This has brought the Bull/Bear Ratio down to 0.34! That is extremely low!

        What does this mean? It means we may be arriving at an inflection point. You can see from past readings how the market does tend to turn back up when sentiment gets too bearish. Could this be what is setting up after the big declines that we’ve seen on the major indexes?

        We do think that we’ll see some upside next week after Friday’s comeback rally and the fact that price is now sitting on important support and reversing. However, we don’t think that this pullback, almost correction, is over. There is still too much confusion and uncertainty over tariff talks and geopolitical concerns. The market hates uncertainty.

        Conclusion: We have bearish extremes being hit on the AAII sentiment chart that does imply that we could see an upcoming rally. However, we don’t believe it will amount to much given the overall geopolitical environment. The market is still highly overvalued and that is a problem too.


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        2025 is off to a rough start for stocks, but there are still some pockets of strength in the market. Year-to-date, SPY is down 1.73%, QQQ is down around 4% and the S&P SmallCap 600 SPDR (IJR) is down over 6%. ETFs with smaller losses show relative strength (less weakness), but ETFs with year-to-date gains show relative, and more importantly, absolute strength. This is where we should focus.

        The table below shows some of the best performing equity ETFs. Three themes are clear. First, commodity-related stocks are performing well with gains in Gold Miners (GDX), Copper Miners (COPX), Materials (XLB) and Energy (XLE). Second, defensive groups are performing well with gains in Healthcare (XLV), Consumer Staples (XLP), Telecom (IYZ) and Insurance (KIE). Third, two groups within the healthcare sector are also performing well: Medical Devices (IHI) and Biotech (IBB).

        Get the last ETF ChartList you will ever need – free with a trial subscription to TrendInvestorPro. Organized in a logical top-down manner, our highly curated ChartList has 59 equity ETFs, 7 commodity ETFs and 4 bond ETFs. This core list is designed for all market conditions and forms the basis for a momentum rotation strategy that I will unveil in the coming weeks. Get your ChartList today. Click here to take a trial to TrendInvestorPro.

        Among the 2025 leaders, the Biotech ETF (IBB) caught my attention because it is in a long-term uptrend and recently broke out of a falling wedge. The chart below shows weekly candlesticks with resistance breaks (higher highs) in December 2023 and July 2024. We also see higher lows in April 2024 and December 2024 (gray arrows). IBB also tagged a 52-week high in September 2024. Price action may be choppy, but there is an uptrend in play with higher highs, higher lows and a 52-week high.

        After tagging a new high, IBB plunged in November on news of the RFK Jr. appointment (long black candlestick). A falling wedge ultimately formed and I view this as a correction after the April-September advance. Why? Because the bigger trend is up and IBB held well above the April low. The wedge breakout signaled an end to this correction and a resumption of the bigger uptrend. Short-term, there are two levels to watch as the ETF consolidated around the breakout zone in the 137.5 area. A close below 132 (blue line) would negate the breakout and call for a re-evaluation. A breakout at 141 (pink line) would solidify the breakout and keep the uptrend alive.

        Click here to take a trial, get your ETF chart list and gain full access to our strategy reports, signal page, ranking tables.

        ////////////////////////////////////////

        Things heated up this week on , featuring interviews with Kristina Hooper of Invesco, Keith Fitz-Gerald of The Fitz-Gerald Group, and Jordan Kimmel of Magnet Investing Insights!


        Now that 5850 has been clearly violated to the downside, though, it’s all about the 200-day moving average, which both the S&P 500 and Nasdaq 100 tested this week. Friday’s rally kept the SPX just above its 200-day moving average, which means next week we’ll be looking for a potential break below this important trend-following mechanism.

        Fibonacci Retracements Suggests Downside to 5500

        But what if we apply a Fibonacci framework to the last big upswing during the previous bull phase? Using the August 2024 low and December 2024 high, that results in a 38.2% retracement level at 5722, almost precisely at the 200-day moving average. So now we have a “confluence of support” right at this week’s price range.

        If next week sees the S&P 500 push below the 5700 level, that would mean a violation of moving average and Fibonacci support, and suggest much further downside potential for the equity benchmarks.  Using that same Fibonacci framework, I’m looking at the 61.8% retracement level around 5500 as a reasonable downside target.  With the limited pullbacks over the last two years, most finding support no more than 10% below the previous high, a breakdown of this magnitude would feel like a true bear market rotation for many investors.

        Supporting Evidence from Newer Dow Theory

        So, despite rotating to more defensive positioning in anticipation of a breakdown, what other tools and techniques can we use to validate a new bear phase in the days and weeks to come? An updated version of Charles Dow’s foundational work, what I call “Newer Dow Theory”, could serve as a confirmation of a negative outcome for stocks.

        Charles Dow used the Dow Industrials and Dow Railroads to define the trends for the two main pillars of the US economy, the producers of goods and the distributors of goods. For our modern service-oriented economy, I like to use the equal-weighted S&P 500 to represent the “old economy” stocks and the equal-weighted Nasdaq 100 to gauge the “new economy” names.

        We can see a clear bearish non-confirmation last month, with the QQQE breaking to a new 52-week high while the RSP failed to do so. This often occurs toward the end of a bullish phase, and can represent an exhaustion point for buyers. Now we see both ETFs testing their swing lows from January. If both of these prices break to a new 2025 low in the weeks to come, that would generate a confirmed bearish signal from Newer Dow Theory, and imply that the bearish targets outlined above are most likely to be reached.

        Many investors are treating this recent drawdown as yet another garden variety pullback within a bull market phase. And while we would be as happy as ever to declare a full recovery for the S&P 500, its failure to hold the 200-day moving average next week could be a nail in the coffin for the great bull market of 2024.

        RR#6,

        Dave

        P.S. 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.

        In this exclusive StockCharts video, Julius analyzes sector rotation in US markets, assessing recent damage and potential downside risks. He examines the Equal Weight RSP vs. Cap-Weighted SPX ratio and the stocks vs. bonds relationship to identify key market trends. Don’t miss this deep dive into market rotation and what it means for the next move!

        This video was originally published on March 7, 2025. Click on the icon above to view on our dedicated page for Julius.

        Past videos from Julius can be found here.

        #StayAlert, -Julius