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Earthquakes are devastating for those who have lost loved ones, homes and livelihoods, but for military dictators clinging to power, such disasters can also bring opportunity.

Myanmar’s military rulers have spent the past four years waging a brutal civil war across the Southeast Asian country, sending columns of troops on bloody rampages, torching and bombing villages, massacring residents, jailing opponents and forcing young men and women to join the army.

The junta is headed by a widely reviled army chief who overthrew the democratically elected government of Aung San Suu Kyi and installed himself as leader.

But like with most aspiring strongmen, Sen. Gen. Min Aung Hlaing’s rule is precarious. He and his cronies have been sanctioned and spurned internationally, the economy is in tatters, and his military is losing significant territory in a grinding, multi-front war against a determined resistance.

By some accounts, he barely controls 30% of the country.

So when a powerful 7.7-magnitude earthquake struck central Myanmar on March 28, killing more than 3,700 people and causing widespread devastation, the general moved rapidly to bolster his position with a rare plea for international help.

“Min Aung Hlaing is leveraging the earthquake for regional engagement and electoral legitimacy,” said Kyaw Hsan Hlaing, a PhD student in political science at Cornell University.

“The humanitarian crisis gives him a pretext to open channels he’d long shut.”

Those openings included a face-to-face meeting last month between the junta leader and Prime Minister Anwar Ibrahim of Malaysia, which currently holds the rotating chair of the Association of Southeast Asian Nations (ASEAN). The regional bloc had shunned high-level talks with Myanmar since the coup, to avoid legitimizing the junta.

Following the meeting in the Thai capital Bangkok, Anwar said he had a “frank and constructive discussion” with the general, focused on humanitarian assistance for quake-hit communities and the extension of a military-declared ceasefire to facilitate aid deliveries.

“For Min Aung Hlaing, securing even a veneer of regional legitimacy now lays political groundwork: He can argue ‘Look, neighbors trust me enough to talk,’ even as democratic leaders and exile groups remain excluded from the table,” said Kyaw Hsan Hlaing.

Specter of elections

Some say now is the time for countries to engage with Myanmar’s military rulers, to push for dialogue and peace.

Four years of war has ravaged the country; 3 million people have been displaced by the fighting and the earthquake has only deepened an already dire humanitarian crisis in which at least 20 million people need aid.

“The main concern is the humanitarian situation. Sometimes, when we have this kind of crisis, it’s an opportunity for all the parties to try to come together, to think of the interests of the people… maybe it could lead to some kind of dialogue process,” said Sihasak Phuangketkeow, a former deputy foreign affairs minister of Thailand who has been part of his country’s efforts to engage the State Administration Council, the junta’s official name.

In recent months, Min Aung Hlaing has enjoyed a series of diplomatic engagements.

As bodies were still being pulled from the rubble of the quake, the general was shaking hands with Indian Prime Minister Narendra Modi on the sidelines of a regional meeting in Bangkok.

Rights groups and civil society organizations said his presence at the BIMSTEC summit amounted to the gathering lending legitimacy to a war criminal.

India said its bilateral meeting, set up to facilitate disaster relief, provided an opportunity to push the junta for “inclusive dialogue” and underline that there could be “no military solution to the conflict.”

That meeting came a month after Min Aung Hlaing’s high-profile state visit to Russia to boost cooperation with President Vladimir Putin, his longtime ally and main arms supplier.

Above all for the junta leader, domestic legitimacy is key in order to maintain his regime. And regional support for his planned elections, slated to be held later this year, is the first step in securing that.

Since seizing power, Min Aung Hlaing has repeatedly promised elections.

But with most of the democratic camp in exile or jail, Suu Kyi’s National League for Democracy dissolved, and the military’s widespread repression of the people, such a vote would never be considered free or fair, observers say.

Min Aung Hlaing’s March invitation to election observers from Belarus – Europe’s last dictatorship – appeared to underscore their point.

“We have to make it very clear that for the election to be credible, it has to have inclusive dialogue,” said Sihasak, who is now secretary-general of the Asian Peace and Reconciliation Council.

“It is not a blank check,” he added. “It’s an opportunity for us to engage, but not engage in a way that supports legitimacy, but to impress upon the regime that they have to also make concessions.”

Stopping the violence

Some observers say the junta cannot be trusted to make concessions, when the military’s history is littered with false promises masking an unending stream of atrocities.

Even as Malaysia’s Anwar was touting the military’s so-called ceasefire to help quake-hit communities, the junta was restricting aid and intensifying its deadly campaign with airstrikes in opposition areas that have reportedly killed dozens of civilians.

Analysts warn that the military will use greater engagement as a pretext to normalize diplomatic ties and entrench its authoritarian rule.

“If you negotiate with the devil without red lines, that is complicity,” said Adelina Kamal, an independent analyst and member of the Southeast Asian Women Peace Mediators network.

Kamal said the international community risks being “deceived into the military’s stage performance,” where elections would be “an illusion of democratic transition.”

In 2008, when parts of the country were ravaged by powerful Cyclone Nargis, the military regime at the time pushed ahead with a constitutional referendum that paved the way for a semi-civilian government but cemented the military’s influence on the country’s politics.

With a new military-drafted constitution in place, the regime – called the State Peace and Development Council – held elections in 2010 widely regarded as a sham.

Today’s junta is “taking a page from the SPDC’s playbook to assert and retain its political role,” said Moe Thuzar, coordinator of the Myanmar studies program at the ISEAS-Yusof Ishak Institute.

“The people of Myanmar have made it amply clear since 2021 about their mistrust in the military’s statements about elections, and view elections in the current situation as potentially leading to more violence.”

Those who have firsthand experience of that violence say actions speak louder than words.

“Talking to Min Aung Hlaing will not bring any political solution and satisfy what the majority of people want,” said Khun Bedu, chairman of the Karenni Nationalities Defense Force, which is fighting the military in the country’s southeast.

The Karen National Union, which has been fighting the military since independence from Britain more than 70 years ago, said inclusive dialogue cannot happen without first a ceasefire and the delivery of humanitarian assistance.

There is hope, however, from some quarters that progress could be made this year.

Following his talks with the junta leader, Malaysia’s Anwar also held a widely praised virtual meeting with Mahn Win Khaing Than, prime minister of the National Unity Government, in ASEAN’s first public face-to-face with Myanmar’s shadow administration of lawmakers deposed in the coup.

The NUG, which considers itself the legitimate government of Myanmar, has repeatedly insisted on engaging all stakeholders to solve the crisis.

“I see 2025 as the year, with the election coming in and with this crisis, that we can either win the peace or we can lose the peace,” said Sihasak, the former Thai minister.

To get there, international partners should “tie any dialogue to verifiable steps” including “genuine humanitarian corridors, release of political prisoners, and binding guarantees of inclusive talks,” said Kyaw Hsan Hlaing at Cornell.

“Otherwise, engagement simply extends the junta’s lifeline at the expense of the Burmese people’s aspirations for democracy,” he said.

This post appeared first on cnn.com

Singapore is holding an election on Saturday almost certain to perpetuate the unbroken rule of the People’s Action Party, in a test of public approval for its new prime minister as the city-state braces for economic turbulence from a global trade war.

The election is a bellwether for the popularity of the PAP, which has ruled since before Singapore’s 1965 independence, with attention on whether the opposition can challenge the ruling party’s tight grip on power and make further inroads after small but unprecedented gains in the last contest.

Though the PAP has consistently won in landslides with about 90% of seats, its share of the popular vote is closely watched as a measure of the strength of its mandate, with premier Lawrence Wong keen to improve on the PAP’s 60.1% in the 2020 election – one of its worst performances on record.

Wong, 52, became the Asian financial hub’s fourth prime minister last year, promising continuity, new blood and to lead Singapore his own way.

He took over at the end of the two-decade premiership of Lee Hsien Loong, the son of former leader Lee Kuan Yew, the founder of modern Singapore.

Polls opened at 8 a.m. and will close at 8 p.m. (8 a.m. ET), with a result expected in the early hours of Sunday.

Living costs and housing availability in one of the world’s most expensive cities are key issues for the 2.76 million voters and a continued challenge for Wong, whose government has warned of recession if the trade-dependent economy becomes collateral damage in the war over steep U.S. tariffs.

Lopsided contest

The PAP has long had the upper hand in politics, with a big membership to draw from, influence in state institutions and far greater resources than its untested opponents, which are each running in only a small number of constituencies.

The election will be a lopsided affair, with 46% of all candidates representing the PAP, which is contesting all 97 seats compared to 26 for its biggest rival, the Workers’ Party, which won 10 last time, the most by an opposition party.

But though a PAP defeat is extremely unlikely, some analysts say the election could alter the dynamic of Singapore politics in the years ahead if the opposition can make more headway, with younger voters keen to see alternative voices, greater scrutiny and more robust debate.

“It is to be expected that (its) overall electoral support will gradually, gradually dip from general election to general election,” said National University of Singapore political scientist Lam Peng Er.

“Would Singaporeans be that surprised if the PAP’s electoral support were to dip to 57% or 58%? It will surprise nobody. I don’t think it will even surprise the PAP at all.”

The PAP for its part is keen to avoid upsets and warned voters of the consequences of seat losses for key cabinet members, whom Wong said were critical to balancing ties between the United States and China and navigating Singapore’s highly exposed economy through potentially choppy waters.

“I have backups … sure. But everyone knows that the team cannot function at the same level,” Wong told the 1.4 million-strong labor union on Thursday.

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Sitting inside her new apartment in kibbutz Tzora, a leafy community just west of Jerusalem, Almog Holot ran her fingers over a bowl of crystals as the wind chime on her balcony blew in the breeze.

Eighteen months ago, she spent 12 hours gripping the handle of her safe room door in kibbutz Nirim as she, along with her mother and her children – then 6 and 8 years old – hid from Hamas militants, who threw grenades at their house, ransacked their home and terrorized their community.

Five people were killed and another five were kidnapped from Holot’s kibbutz on October 7, 2023, when Hamas and other militant groups launched a coordinated terror attack on Israeli communities and military posts, killing 1,200 and kidnapping 251 people.

Holot and her family survived. But her belief in peace did not.

Holot and her ex-husband, who is from Nirim, a kibbutz about 2 kilometers (approximately 1.2 miles) from the Gaza border, had decided to raise their family there, believing it was the best place for their children.

“Kibbutzes are like paradise on earth in many ways,” she said. “You live in a community where money is not the most important thing… people know each other, people care about each other, and people help each other.”

While her children grew up “in a reality in which in every single second of every single day, a rocket might hit them,” Holot said that before October 7, such attacks were rare.

“Most of the time it was really peaceful,” she said. “My children knew to answer people that the people who threw rockets were just Hamas, and most of the people in Gaza are good – just like them.”

Like many residents of kibbutzim – or communal settlements – located near the Gaza border, Holot says she holds left-leaning political views. And like many so-called kibbutzniks, she too believed in, and advocated for, peace with Palestinians.

People from outside of her kibbutz used to tell her that her views were “naïve,” she said. Now she believes they were right.

“I can no longer say that 95% of them (Palestinians) want to live in peace,” Holot said, adding that many in her community were “surprised” by the attacks, but not because of the actions of Hamas.

“We thought (Gazans) were like us. And it turned out, no, they’re not,” she said, alleging that “common people of Gaza” were involved in the looting of October 7 and expressed support for the attacks.

It’s an attitude that Avida Bachar, from nearby kibbutz Be’eri also shares. Bachar lost his wife, his teenage son and his right leg in the attacks, in which 100 of the kibbutz’s 1,100 residents were killed.

Prior to October 7, Bachar believed that Palestinians and Israelis could coexist.

Now, he believes that Israel should raze Gaza and take complete control of it.

“We have to take the border, to move the border, and put potatoes and peanut fields there (in Gaza), until the sea. That is a different system, and we have to do it,” he said, acknowledging that his support of such an extreme idea would have surprised him prior to the war.

Such shifts in attitudes aren’t surprising for survivors of extreme trauma, said Merav Roth, a Haifa-based clinical psychologist and psychoanalyst.

“It takes most of your energy just to survive mentally. And that’s why they don’t have spare energy to think of ‘the other,’” Roth said, adding that they are often in “fight or flight” mode and react in “binary, primitive ways.”

“When you’re in chaos, when you’re intimidated, when you’re threatened, you split the world into two: total good and total bad… and revenge is an illusion of becoming strong,” Roth said.

So, by operating with a mentality of “I don’t want to think about them. I don’t want to solve anything,’” Roth said, survivors are able to create a sense of protection for themselves.

It’s the type of protection Holot seeks for herself and her children, who both suffer from PTSD.

While Holot said that she does not support US President Donald Trump or Prime Minister Benjamin Netanyahu politically, their call to relocate Palestinians in Gaza to third countries – a “voluntary” emigration plan approved by Israel’s cabinet in March that critics say could amount to ethnic cleansing – has given her pause.

“Would I want to get up tomorrow morning, wake up and see that all the people in Gaza disappeared and everything is peaceful? Yes. On the same note, I would like to get up tomorrow morning and find out that all the people in Gaza want peace,” she said, before adding: “But do I think (either) is possible? No.”

A shift to the right

In the 1990s and 2000s, the conflict was a dividing line between left and right, split 50-50 along political lines, according to Tamar Hermann, a public opinion and polling expert at the Israel Democracy Institute (IDI), a Jerusalem-based think tank.

Holot and Bachar’s views mirror a wider shift in attitudes among Israeli Jews to the Israeli-Palestinian conflict and the idea of a two-state solution since October 7.

But over the years, Jewish Israeli society has made a significant shift to the right, with only 13% of that population now self-identifying as on the left, compared with 30% in the center, and 55-60% on the right, Hermann said.

While the right remains staunchly against a Palestinian state, a view that has only hardened since the war began, the center is now much more aligned with the right than it used to be, she said.

But the major shift has been among those on the left, who used to support a two-state solution but now see a Palestinian state as unfeasible anytime soon, she said.

Meanwhile, across all political lines, very few Jewish Israelis (5%) believe that Hamas would end its struggle against Israel even if there was a Palestinian state, according to an IDI opinion poll conducted 13 months ago.

Holot, who still identifies as on the left, said she believes left-wing activists outside of Israel who demonstrate for a “Free Palestine” do not fully understand Hamas’ ideological stance, instead only focusing on images of Palestinian suffering.

Israel’s war in Gaza has killed more than 52,000 people since October 2023 – among them 16,000 children – according to the Palestinian Health Ministry. 2,100 Palestinians have been killed since Israel reignited its aerial and ground campaign last month, breaking a two-month-old ceasefire.

“I’m very sad for this reality, but I’m very stable about knowing that it’s not our fault and their leaders brought it upon them,” Holot said, echoing a wider national sentiment. Nearly all Jewish Israelis (94.5%) believe that Hamas bears a great deal of responsibility for the suffering of Palestinian civilians in Gaza, according to the IDI poll.

“Murderousness is infectious, aggression is infectious,” Roth said of the vicious cycle of the Israeli-Palestinian conflict.

But Roth, who believes in a two-state solution, still has hope for peace. She said some of the returned hostages and survivors she’s worked with have told her: “’I will fight for the two-state solution. We still need peace.”

“They are amazing, and it’s inspiring,” Roth said. “They keep their higher selves, even after all that they went through.”

‘The only reality I knew’

In between lectures, 21-year-old Gili Avidor walks under trees on the perimeter of the Tel Aviv University campus. Like the survivors – and much of Israeli society – she, too, has undergone a profound personal and political transformation since October 7.

But her story is very different than most.

“I remember telling my sister that I want everyone in Gaza dead,” said Avidor.

“Now I am ashamed and frightened of the fact that these words came out of my mouth,” Avidor, who describes herself as being from a right-wing family, said: “I was completely inside the Israeli narrative. That’s the only reality I knew.”

As Israel escalated its war on Gaza, Avidor said something changed for her.

“I thought, there is probably some other girl on the other side of the gate in Gaza that is feeling exactly what I feel, that someone she loved got killed, and revenge is the answer…(but) revenge is what makes such things to happen in the first place.”

Avidor began to engage with left-wing activist groups that support Palestinian self-determination and volunteered as a “protective presence” for Palestinians in the occupied West Bank, who have suffered an increasing number of attacks by Jewish settlers since the start of the war.

It’s hard to stand up to your own society, she said, adding that individual and collective trauma has been weaponized to empower extremists to perpetuate the conflict and dehumanize Palestinians.

Still, she remains committed to a different way forward, saying that it is her “duty” to advocate for “human beliefs in this very dark time.”

Avidor acknowledges that she did not experience the first-hand trauma that many kibbutzniks did, and expresses deep sympathy for them.

“I can understand that people who endure such a trauma (flips) their life upside-down,” Avidor said.

But she pushed back on the idea that October 7 is a reason for them to stop seeing a path forward to peace with Palestinians.

“I mean, they say: ‘Okay, we were the the good Jews who helped you and took you to the hospital when you’re sick…’ but now they strip them from their humanity,” she said.

“The notion that human rights is something that people need to gain and to be thankful for? That makes me angry. And I think they’re hypocrites,” Avidor added.

Not every survivor has faltered in their vision for peace.

At her father’s graveside at kibbutz Nir Oz several weeks ago, Sharone Lifschitz read one of his poems to friends and family attending his headstone-setting ceremony, as the sound of bombs exploded a mile away in Gaza.

Oded Lifschitz, a lifelong peace activist, was kidnapped age 83 from the kibbutz on October 7, along with his wife Yocheved, who was freed weeks after her capture.

She and her mother continue to embody Oded’s ideology, saying that peace with Palestinians is the only way forward.

Roth, the psychologist, believes Israel’s most “severe danger as a society is if we become the atrocity we experience.”

“This will be really the victory of Hamas, if the Israeli people will lose their values, their higher selves, their morality, (capacity for) seeing the other,” she said.

Back in kibbutz Tzora, Holot says she still holds liberal values, and is focused on healing herself and her children.

“I don’t want to teach them bad things about humanity. So, I prepare them to keep thinking that Hamas is bad and the people are good… even if I don’t feel it myself,” she said.

This post appeared first on cnn.com

Pfizer CEO Albert Bourla on Tuesday said uncertainty around President Donald Trump’s planned pharmaceutical tariffs is deterring the company from further investing in U.S. manufacturing and research and development. 

Bourla’s remarks on the company’s first-quarter earnings call came in response to a question about what Pfizer wants to see from tariff negotiations that would push the company to increase investments in the U.S. It comes as drugmakers brace for Trump’s levies on pharmaceuticals imported into the country — his administration’s bid to boost domestic manufacturing.

“If I know that there will not be tariffs … then there are tremendous investments that can happen in this country, both in R&D and manufacturing,” Bourla said on the call, adding that the company is also hoping for “certainty.”

“In periods of uncertainty, everybody is controlling their cost as we are doing, and then is very frugal with their investment, as we are doing, so that we are prepared for remit. So that’s what I want to see,” Bourla said.

Bourla noted the tax environment, which had previously pushed manufacturing abroad, has “significantly changed now” with the establishment of a global minimum tax of around 15%. He said that shift hasn’t necessarily made the U.S. more attractive, saying “it’s not as good” to invest here without additional incentives or clarity around tariffs.

“Now [Trump] I’m sure — and I know because I talked to him — that he would like to see even a reduction in the current tax regime particularly for locally produced goods,” Bourla said, adding a further decrease would be would be a strong incentive for manufacturing in the U.S.

Unlike other companies grappling with evolving trade policy, Pfizer did not revise its full-year outlook on Tuesday. However, the company noted in its earnings release that the guidance “does not currently include any potential impact related to future tariffs and trade policy changes, which we are unable to predict at this time.”

But on the earnings call on Tuesday, Pfizer executives said the guidance does reflect $150 million in costs from Trump’s existing tariffs.

“Included in our guidance that we didn’t really speak about is there are some tariffs in place today,” Pfizer CFO Dave Denton said on the call.

“We are contemplating that within our guidance range and we continue to again trend to the top end of our guidance range even with those costs to be incurred this year,” he said.

This post appeared first on NBC NEWS

Nvidia blasted Anthropic Thursday in a rare public clash over artificial intelligence policy with U.S. chip export restrictions set to take effect.

“American firms should focus on innovation and rise to the challenge, rather than tell tall tales that large, heavy, and sensitive electronics are somehow smuggled in ‘baby bumps’ or ‘alongside live lobsters,’ ” a spokesperson for Nvidia said.

Anthropic, the AI startup backed by billions from Amazon, argued for tighter controls and enforcement, saying in a blog post Wednesday that Chinese smuggling tactics involved chips hidden in “prosthetic baby bumps” and “packed alongside live lobsters.”

Chip restrictions from former President Joe Biden’s term, called the “AI Diffusion Rule,” are set to take effect May 15. The rule puts global export controls on advanced AI chips and model weights to prevent rival nations like China from gaining ground in an escalating AI arms race.

President Donald Trump is reportedly working on updating these restrictions, adding another layer of uncertainty to the already contentious policy.

Anthropic, which relies heavily on Nvidia hardware to train its models, is calling for tighter restrictions that could limit Nvidia’s overseas business and revenue from chip sales.

Anthropic argued that compute access is the key strategic chokepoint in the race to build frontier AI. The company proposed lowering the export threshold for Tier 2 countries, tightening the rules to reduce smuggling risks, and increasing funding for enforcement.

“Maintaining America’s compute advantage through export controls is essential for national security and economic prosperity,” Anthropic wrote.

In a sharply worded response to Anthropic, an Nvidia spokesperson blasted the use of policy to limit competitiveness.

“China, with half of the world’s AI researchers, has highly capable AI experts at every layer of the AI stack. America cannot manipulate regulators to capture victory in AI,” the spokesperson said.

Nvidia CEO Jensen Huang, who visited with Chinese trade officials in mid-April, said Wednesday in Washington, D.C. that China is “not behind” the U.S. in AI and praised Huawei as a top global tech company.

“They’re incredible in computing and network technology, all these essential capabilities to advance AI,” Huang said. “They have made enormous progress in the last several years.”

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Data center demand is not slowing down in the world’s largest market centered in northern Virginia, executives at Dominion Energy said Thursday.

Dominion provides electricity in Loudoun County, nicknamed “Data Center Alley” because it hosts the largest cluster of data centers in the world. The utility works closely with the Big Tech companies that are investing tens of billions of dollars in data centers as they train artificial intelligence models.

“We have not observed any evidence of slowing demand from data center customers across our service area,” Dominion’s chief financial officer, Steven Ridge, told analysts on the company’s first-quarter earnings call.

Wall Street has speculated that the tech sector might pull back investment in data centers as President Donald Trump’s tariffs make it more difficult to source parts and raise the risk of a recession. The emergence of China’s DeepSeek AI lab sparked a sell-off of power stocks earlier this year as investors worried that its model is more energy efficient.

Dominion has 40 gigawatts of data center capacity in various stages of contracting, Ridge said. Data center customers have not paused spending on new projects in Dominion’s service area and they have not shown any concerns about economic uncertainty, Dominion CEO Robert Blue said.

“We’re seeing continued appetite for additional data center capacity in our service territory,” Blue said. “They want to go fast, they always want to go fast. That’s their business, that’s always been their business. We’ve been effective at serving them thus far. I don’t see any reason why that’s going to change in the future,” he said.

Executives with Amazon and Nvidia said last week at an energy conference in Oklahoma City that data center demand is not slowing. Dominion shares rose about 1% in Thursday trading as the utility maintained its full-year operating earnings guidance of $3.28 to $3.52 per share.

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Shares of Tesla were flat in premarket trading Thursday after the EV maker denied a Wall Street Journal report that its board was searching for a replacement for chief executive Elon Musk.

The report, citing comments from sources familiar with the discussions, said that Tesla’s board members reached out to several executive search firms to work on a formal process for finding the company’s next CEO. Shares of Tesla fell as much as 3% in overnight trading on trading platform Robinhood following the news, before paring losses.

Tesla chair Robyn Denholm wrote on the social media platform X that the report was “absolutely false.”

“Earlier today, there was a media report erroneously claiming that the Tesla Board had contacted recruitment firms to initiate a CEO search at the company,” she wrote.

Elon Musk during a Cabinet meeting at the White House on Wednesday.Evan Vucci / AP

“This is absolutely false (and this was communicated to the media before the report was published). The CEO of Tesla is Elon Musk and the Board is highly confident in his ability to continue executing on the exciting growth plan ahead.”

It comes after a sharp drop in the electric vehicle giant’s sales and profits, with its top and bottom lines missing estimates in the first quarter. Musk has admitted that his involvement with the Trump administration could be hurting the automaker’s stock price.

The mega-billionaire said on a Tesla earnings call last week that he plans to spend just a “day or two per week” running the so-called Department of Government Efficiency beginning in May.

Tesla’s total revenue slipped 9% year-on-year to hit $19.34 billion in the January-March quarter. This falls short of the $21.11 billion forecast by analysts, LSEG data shows.

Revenue from its automotive segment declined 20% year-on-year to $14 billion, as the company needed to update lines at its four vehicle factories to start making a refreshed version of its popular Model Y SUV. Tesla also attributed the decline to lower average selling prices and sales incentives as a drag on revenue and profit.

Its net income plunged 71% to $409 million, or 12 cents a share, from $1.39 billion or 41 cents a year ago.

Since the start of the year, its shares have plunged over 30%.

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In this video, Joe demonstrates how to use the 18-day and 40-day moving averages to identify trade entry points, assess trend direction, and measure momentum. He breaks down four key ways these MAs can guide your trading decisions—especially knowing when to be a buyer. Joe also analyzes commodities, noting recent weakness, and highlights key technical levels to watch on the SPY, QQQ, and IWM. The session wraps with detailed viewer stock chart requests.

The video premiered on April 30, 2025. Click this link to watch on Joe’s dedicated page.

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

When you’re lost in the woods, you reach for a compass to find true north. In the markets, it’s not so simple, as the landscape is always shifting. If there is a “true north” in this terrain, it might be better understood as a characteristic—strength and momentum over time, rather than a single stock or sector.

With sentiment muddled and signals mixed, how do you cut through near-term noise and find the “true north” in a shifting market landscape? This is where StockCharts’ MarketCarpets comes in. You can think of it as a visual compass that can help you reorient and recalibrate.

What MarketCarpets is Saying Now

All MarketCarpets readings use the five-day setting, since shorter time frames are particularly susceptible to noise in the current context.

FIGURE 1. MARKETCARPETS S&P VIEW. Lots of green, but I want to see a reduction.

On Thursday morning, there were more bullish greens than bearish reds. They represent S&P 500 stocks performing better relative to others—specifically from a ‘long only’ (bullish) perspective. But what do those greens have in common?

The answer is that most, if not all, are Information Technology sector funds.

Technology Sector Leads the Charge in S&P 500

If you select the S&P Sector ETFs group, Technology is the strongest among all 11 S&P sectors.

FIGURE 2. MARKETCARPETS SECTORS. Technology is far ahead of most other sectors, which read bullish.

If you follow financial news, you’re probably well aware of how certain tech companies are performing, especially in light of the current earnings season.

But not every investor wants to risk allocating capital toward individual stocks, given the volatility of today’s geopolitical environment, where news on a given day can cause markets to soar or slump. So, conservative investors, particularly those in or nearing retirement, might want to opt for a sector ETF instead, like the Technology Select Sector SPDR Fund (XLK).

Why is technology outperforming?

Six Reasons Tech Stocks are Outperforming in 2025

Here’s a quick breakdown of what’s going on:

  • AI and cloud boom. Enterprise-focused giants are thriving due to surging AI demand.
  • Earnings confidence. Big tech’s strong earnings are keeping investor sentiment positive despite market volatility.
  • Tariff mitigation. Tech companies are proactively shifting supply chains to soften tariff impact.
  • Tariff relief. Temporary exemptions on key tech products give hardware makers a short-term boost.
  • Long-term innovation appeal. Investors see AI, chips, and automation as long-term growth drivers.
  • Stable revenue streams. Tech firms with enterprise and software services offer more stability than consumer-driven sectors.

Technology Sector Overbought? Market Breadth Says Maybe

That’s a lot of fundamental talk, but what does the technical picture look like? Let’s start by analyzing market breadth with the S&P Technology Sector Bullish Percent Index ($BPINFO) chart.

FIGURE 3. TECH SECTOR BPI. Most tech stocks in the sector are ultra-bullish, but that can also signal overbought conditions.

The Bullish Percent Index (BPI) is at 85, meaning 85% of all stocks within the sector are triggering Point & Figure Buy Signals. Above 50% is bullish, but above 70%, let alone 85%, XLK is straddling ultra-bullish to overbought.

If you look at the magenta rectangle, you can see where XLK’s trend is situated—at the point of recovery following a two-month tumble. However, it’s still below its 200-day simple moving average (SMA), and, as the saying goes, nothing good happens below the 200.

XLK’s Price and Volume Action: A Closer Look

Let’s zoom in on a daily chart.

FIGURE 4. DAILY CHART OF XLK. It broke above resistance, but can it sustain upward momentum?

XLK’s recovery effort gained momentum with a notable gap up on Thursday. Positive momentum is reinforced by a rising Relative Strength Index (RSI) above the 50 level, suggesting XLK still has room to run.

From a volume perspective, the On Balance Volume (OBV) indicator is trending higher, signaling increased buying pressure. A 20-day SMA is overlaid to show how OBV is performing relative to its average. However, the Chaikin Money Flow (CMF), hovering flat near the zero line (see blue circle), indicates accumulation with hesitation.

Key Support Levels to Watch If You’re Bullish on XLK

If you’re considering a long position in XLK, keep an eye on these key technical levels:

  • Initial Support – $205. The breakout level around $205 (marked by the blue dotted line) should act as the first line of support on any pullback.
  • Secondary Support Zone – $185 to $187.50. If $205 fails, the yellow-shaded zone becomes the next support range. But note: if price falls here, the $205 breakout level may flip into resistance.
  • Critical Support – $172.50. A drop toward $172.50 could signal deeper technical weakness. That’s why the area is shaded red—to underscore its importance.

In each case, monitor the CMF for confirmation. A rising CMF, especially in the first two support zones, would suggest continued buying pressure—a bullish signal. Conversely, if CMF dips below the zero line, it would signal growing selling pressure, reinforcing a more bearish outlook.

At the Close

The tech sector is leading the charge, but you have to estimate whether momentum is real or just generating noise. MarketCarpets works like a compass, helping you visually navigate market conditions and spot patterns. Pair it with tools like RSI, OBV, CMF, or any other preferred tool in your analytical toolbox to create well-defined setups and exits. In a market environment driven by sentiment, headlines, fear, and FOMO, having a solid technical foundation is more important than ever.



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 personal and financial situation, or without consulting a financial professional.

Discover the top 10 stock charts to watch this month with Grayson Roze and David Keller, CMT. They break down breakout strategies, moving average setups, and technical analysis strategies using relative strength, momentum, and trend-following indicators. This analysis covers key market trends that could impact your trading decisions. You don’t want to miss these insights into market dynamics and chart patterns that could impact your trading decisions.

This video originally premiered on May 1, 2025. Click on the above image to watch on our dedicated Grayson Roze page on StockCharts TV.

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