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S&P 500, Bitcoin & XLK: What the Charts Are Saying Now

In this video, Frank dives into some of his favorite features on StockCharts.com. He then dissects the S&P 500 and Bitcoin price action, before exploring the the XLK Technology ETF’s explosive move off the lows. He also highlights a few recent trade ideas and setups worth watching. Get trade ideas and chart setups worth watching in today’s technical review.

This video originally premiered on May 20, 2025.

You can view previously recorded videos from Frank and other industry experts at this link.

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Stocks

Generate Consistent Income with These Options Strategies

Are you looking to generate consistent weekly income from the stock market?

In this video, Tony Zhang breaks down some of the top income-generating options strategies that traders and investors can use to create a consistent cash flow. Whether you’re just getting started or looking to refine your options trading skills, this is a must-watch for anyone serious about income generation through options.

Tony dives into three of the most effective options strategies:

  • Covered calls
  • Cash-secured puts
  • Credit spreads

But that’s just a start.

Tony demonstrates how to leverage the StockCharts Scan Engine, organize and monitor trading opportunities using ChartLists, and analyze each trade in the OptionsPlay Strategy Center so you can utilize the full power of the tools available to you in the OptionsPlay Add-On for StockCharts.  

This video premiered on May 20, 2025.  

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Stocks

Quantum Stocks Explode: Why Traders Are Obsessed With QBTS and RGTI Right Now

If you regularly follow the SCTR Reports (StockCharts Technical Rank), you’ll notice that some top-ranked stocks aren’t just individual standouts but groupings that call attention to particular sectors, industries, or subgroups within the two.

That’s exactly what happened Tuesday morning. A couple of high-ranking stocks pointed to a growing trend in the thematic subsector of quantum computing.

Quantum Computing Stocks Light Up the SCTR Reports

Occupying the top ranks of the Mid Cap SCTR Top 10 list are quantum computing stocks D-Wave Quantum Inc. (QBTS) and Rigetti Computing, Inc. (RGTI).

FIGURE 1. SCTR REPORTS – MID CAP TOP 10. QBTS and RGTI, occupying the top of the list, signal strength in the quantum computing subsector.

The quantum computing subsector made headlines Tuesday morning, with QBTS leading the charge. 

QBTS Leads on Breakout News and Bullish Technical Scans

QBTS shares surged after the company unveiled Advantage2, its most advanced quantum system to date. A quick look at QBTS’s Symbol Summary showed the stock appearing across multiple bullish technical scans on Tuesday, including New 52-week Highs, P&F Double Top Breakout, and Runaway Gap Ups.

Other quantum names, including RGTI, also saw gains, highlighting growing momentum in the space. 

RGTI Gains Momentum with Unique Technical Setups

RGTI’s Symbol Summary profile revealed a different set of predefined scans, suggesting unique technical setups driving its price action. RGTI was triggered in the P&F Ascending Triple Top Breakout, Elder Bar Turned Blue, and P&F Double Top Breakout predefined scans on Tuesday.

With quantum computing stocks like QBTS and RGTI surging and showing unusually strong technical strength, assessing their investment potential requires more than a few headlines. Comparative strength, broader performance of sectors to which they belong, and the underlying factors shaping their price action are some other factors to consider.

FIGURE 2. PERFCHARTS OF QBTS, RGTI, XLK, AND QQQ. At these levels of outperformance, it becomes difficult to separate justified valuations from pure FOMO. As the PerfCharts comparison shows, RTGI and QBTS stocks are outperforming their sector and broader tech-heavy index. 

Technical Breakout: What to Watch with QBTS’ Next Move

From a technical perspective, does either stock present a favorable structure for a market entry? To evaluate this, let’s start with a daily chart of QBTS.

FIGURE 3. DAILY CHART OF QBTS. An impressive parabolic run, support on the downside is relatively clear.

QBTS broke out above its four-month trading range, shooting up to an all-time high of $17.50 on Tuesday’s session, sending the Relative Strength Index (RSI) deep into overbought territory. The Price Channels identify potential areas of support based on previous swing highs and lows.

If QBTS is overbought because its valuations are too high, then a pullback is likely to follow. Whether you should buy the dip depends on your fundamental thesis, but technically, if you decide to enter a position, consider this:

  • QBTS is likely to find support at the top of its previous range, highlighted in green.
  • If it falls below that, there’s another support range, shaded yellow, that marks another set of minor swing highs in the middle of the previous trading range.
  • Below that, however, is support at a low range, shaded red, where the stock has reversed several times over the last few months. 

However, if QBTS drops into the zone between the yellow and red support levels, it could signal a meaningful loss of momentum and growing weakness in the stock’s trend.

That’s why volume becomes especially important here. Note how volume has risen with each successive surge—an encouraging sign of accumulation that somehow dropped at each price peak. If QBTS holds above the top of its previous range, watch for continued volume support; strong follow-through should be backed by equally strong participation.

RGTI Chart Shows Upside Potential—But With Caution

Now let’s look at the second one up on the SCTR Top 10 list. Here’s a daily chart of RGTI.

FIGURE 4. DAILY CHART OF RGTI. The stock is moving steadily upward, but unlike QBTS, there’s no outstanding catalyst to trigger an immediate and outsize move.

Following a fourth bounce at the $7 support range, RGTI broke above resistance, almost hesitantly, at $11. The Volume-by-Price overlay on the left side of the chart shows heavy trading activity in this range, suggesting it could become a strong support level now that resistance has been broken. The ZigZag line further clarifies the support and resistance levels, helping to visualize the stock’s overall trend structure.

The On Balance Volume (OBV) indicator in the bottom panel reflects steady buying pressure. At the same time, the RSI, currently at 61 and rising, suggests the stock still has room to climb before entering overbought territory. 

If RGTI maintains its upward trajectory, the next meaningful resistance level ahead will be at $16, marking its January high. However, whether it gets there may depend less on chart patterns and more on underlying catalysts.

In other words, is RGTI riding the wave of bullish sentiment in quantum computing stocks, or does it have a meaningful fundamental catalyst driving its move higher? On that note, what about QBTS?

Wall Street Weigh In: Real Catalysts or Quantum Hype?

Be careful. Analysts are cautiously optimistic about both stocks, pointing to real catalysts like RGTI’s government partnerships and QBTS’s Advantage2 launch. However, some on Wall Street caution that recent gains may be driven more by hype than fundamentals, with commercial adoption still a long way off.

Action Steps

  • Monitor the support levels. For QBTS, watch the green zone (prior range top) for dip-buying potential; deeper moves into yellow or red zones may signal weakening momentum.
  • Track volume behavior. Continued surges should be matched with strong volume to confirm trend strength.
  • Stay grounded. If you’re trading, closely follow the technicals. If you’re investing, make sure your thesis includes realistic expectations on commercialization timelines.

At the Close

Quantum computing stocks like QBTS and RGTI are showing impressive momentum, backed by technical strength and growing investor interest. But while the setups look promising, remember to stay disciplined. Monitor support levels, watch volume closely, and don’t lose sight of the long runway ahead for true commercial adoption.

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.

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Become the Investor You Aspire to Be: Essential Insights for Success

Retail traders and investors often don’t get the credit they deserve. But in April, they showed they’ve got serious market smarts. 

While headlines screamed about a tanking stock market — remember, post-Liberation Day— retail investors waited patiently. And when the time felt right, they jumped in, adding $40 billion to the stock market during the month. Just this past Monday, retail investors poured another $5.4 billion in by day’s end. That was more than a third of the day’s trading volume!

If this keeps up, May could beat April in terms of total inflows. 

Lessons From the Past

Many of you probably remember the dot-com boom and the painful bust that followed. A lot of retail traders jumped in thinking they were buying the dip. Unfortunately, the market had other plans. Many retail traders got wiped out because they ended up buying at the peak rather than the dip. 

This is the risk “buy the dip” buyers face. Sometimes it works. Sometimes it doesn’t. So, how do you protect your portfolio value, especially now that you’re managing some of your investments?

Start With a Simple Daily Routine

Taking control of your finances doesn’t mean you need to stare at a screen all day. But checking in on the market regularly can go a long way. Even a quick peek at the Market Summary page at the end of each day (or once a week) can help you stay on track.

You’ll get a snapshot of how the major indexes are performing, what their daily or weekly streaks are, and if they are above specific moving averages. Here’s a little snippet of the page. There’s a lot more to discover on the page.

An Example: Keeping Tabs on NVIDIA (NVDA)

Let’s say you bought shares of NVIDIA Corp. (NVDA) after it dipped in early April. Despite how well the stock performed in 2024, you can’t just “set it and forget it.” 

You will want to monitor how the S&P 500 ($SPX), Nasdaq ($COMPQ), and Nasdaq 100 ($NDX) are performing since NVDA is a heavily weighted stock in these indexes. 

Here’s what you can do:

  • Check the trend. Are the indexes trending higher? Are they above key moving averages? 
  • Click on the index name. Start with the daily chart and look for any red flags like a break below the 200-day simple moving average (SMA).
  • Watch the up or down streaks. If a winning streak turns into a losing one, it’s worth noting. 

Digging Deeper With Internals and Sector Insights

The Market Summary page also gives you access to market internals that can help you determine the health of the indexes. These include the Advancing/Declining Issues, Bullish Percent Index (BPI), and New Highs/New Lows, among many others. 

Since your focus is semiconductor stocks, you would closely watch the related indexes. For BPI, you’d go one step further and monitor the Technology Sector BPI ($BPINFO).

The US Industries panel displays the performance of the Semiconductors. 

What’s Up With Semis? Let’s Look at XSD

At this point, it’s worth analyzing the chart of the SPDR S&P Semiconductor ETF (XSD), the ETF included in the Market Summary page. The six-month daily chart below shows that XSD is now trading below its 200-day SMA, which is a reason for concern. 

FIGURE 1. DAILY CHART OF XSD. The ETF fell below its 200-day SMA on Wednesday and is underperforming SPY. Chart source: StockCharts.com. For educational purposes.

Note that XSD is holding on to the support of the May 12 low, which is when the price gapped up. Gaps often get filled, so a fall below where XSD closed on Wednesday could take the ETF down to the $210 level. 

In addition, the ETF’s performance relative to the S&P 500 ETF (SPY) over the last six months is at -3.96%. This indicates that semiconductors are trying hard to re-establish their pre-2025 leadership position. If XSD continues to underperform SPY, it would be more reason to be concerned.

Check In on NVDA Again

Seeing this chart should prompt you to pull up the chart of NVDA. Is the stock following the same pattern as the ETF? 

Looking at the six-month daily chart of NVDA, it’s still above its 200-day SMA, unlike XSD. However, NVDA’s stock price is flirting with the support of its May 14 low. A breach of the low could take NVDA’s stock price to its 200-day SMA or lower. This wouldn’t be good for the overall equity market because NVDA is such a heavyweight in the U.S. large-cap indexes. 

FIGURE 2. DAILY CHART OF NVDA STOCK. Wednesday’s price action suggests the possibility of a pullback. If price falls below the May 14 low, the next stop could be the 200-day SMA. Chart source: StockCharts.com. For educational purposes.

Before entering your position, you should have identified your profit target and exit point based on your risk tolerance level. Remember, when managing your investments, discipline is key.  

Keep It Simple

The Market Summary page is a tool that can help you stay ahead of the stock market without overwhelming you. 

Here is one way to use the Market Summary page: 

  • You don’t need to be glued to the screen. Just make checking in a part of your routine.
  • Know what matters. Focus on the key indexes, which direction they are trending, and the sectors you’re invested in. 
  • Engage with the market. The more you understand the price action of the market, the more empowered you become.

There are many more ways to use the Market Summary page, and we’ll be sharing more in upcoming articles. 

Bottom Line

Whether you’re hands-on with your investments, semi-retired, or retired, staying informed can help you feel confident and in control. 

So go on, check out the Market Summary page, explore the charts, and stick to your trading plan. 

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.

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Fanatics will host a skills challenge between fans and celebrities, with $2 million on the line

Sports giant Fanatics is pitting fans against greats Tom Brady, Kevin Durant and Alex Rodriguez at an upcoming marketing event.

The company announced Tuesday it is introducing a skills-based competition at Fanatics Fest 2025, taking place June 20-22 in New York City. Fanatics says more than $2 million will be given away in prizes, including a $1 million cash prize for first place, a Ferrari 812 GTS for second place and a Lebron James collectors card worth $250,000 for third place. If no fans finish in the top three, falling short of the celebrity competitors, the highest-scoring fan will receive $100,000.

If a celebrity competitor comes in first, they take home the seven-figure prize.

“I think the thinking was, how do we create even more of an insane environment where fans and athletes and streamers are all running around, in this case, quite literally, having a great time and showcasing all of that,” said Lance Fensterman, CEO of Fanatics Events.

It’s the second Fanatics Fest after the inaugural event last year drew more than 70,000 fans and brought together major sports leagues and hundreds of current and former athletes. The offerings last year included league activations, autograph sessions and a trading cards and collectibles show.

This year, Fanatics is hoping to go even bigger — with a goal of bringing in 100,000 attendees — as the company continues to broaden its reach in sports marketing.

Michael Rubin acquired Fanatics in 2011 after merging it with his company, GSI Commerce. What began as a sports e-commerce platform has evolved in recent years into a diverse sports platform offering trading cards and sports memorabilia, live shopping, betting and gaming, as well as an events business.

Fifty fans will be selected to compete at Fanatics Fest 2025 against top talent that also includes comedian Kevin Hart, former New England Patriot Rob Gronkowski, Los Angeles Clippers shooting guard James Harden and Olympic gymnast Jordan Chiles.

The competition will include Major League Baseball pitching accuracy, National Hockey League slapshot accuracy, National Football League passing accuracy, a National Basketball Association shooting competition, a FIFA goal scoring challenge and a golfing contest. Fans can apply to participate by submitting a short video in the Fanatics app.

While Fanatics’ events business represents just a small fraction of business — last valued at $25 billion, according to a person familiar with the company — Fensterman said Fanatics Fest creates a lot of positive sentiment around the company.

“It’s incredibly impactful in terms of bringing the entire ecosystem together for the sole focus of delighting,” he said.

This post appeared first on NBC NEWS

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A man once sued by the SEC wins Trump crypto contest to have dinner with the president

We now know who won the contest to attend an intimate dinner with President Donald Trump by buying his cryptocurrency — and he’s a familiar face to Securities and Exchange Commission regulators and law enforcement officials.

Justin Sun, a Chinese-born crypto entrepreneur, confirmed in an X post Tuesday that he was behind the account, labeled ‘SUN,’ that purchased the most $TRUMP meme coin to sit at the president’s table at a crypto-focused gala scheduled for Thursday.

‘Honored to support @POTUS and grateful for the invitation from @GetTrumpMemes to attend President Trump’s Gala Dinner as his TOP fan!’ Sun wrote. ‘As the top holder of $TRUMP, I’m excited to connect with everyone, talk crypto, and discuss the future of our industry.’

He capped the post with an American flag emoji.

Critics have blasted the dinner contest as potentially unconstitutional and a blatant opportunity for corruption. Trump has not publicly commented on the accusations, and the Office of Government Ethics has declined to comment. A White House official did not immediately respond to a request for comment Tuesday.

The Trump administration is not directly involved in administering $TRUMP coin. As for the dinner, a White House official said in a statement that the president ‘is working to secure GOOD deals for the American people, not for himself.’

‘President Trump only acts in the best interests of the American public — which is why they overwhelmingly re-elected him to this office, despite years of lies and false accusations against him and his businesses from the fake news media,” White House spokesperson Anna Kelly said.

While Trump has not been as aggressive in directly promoting cryptocurrencies as some campaign backers in the industry had hoped, his administration has abandoned or paused many pending cases that had been brought against crypto entrepreneurs and businesses.

That includes Sun, who was charged in 2023 with market manipulation and offering unregistered securities. Regulators sought various injunctions against him that would have largely prevented him from participating in crypto in the U.S. The Verge, a tech industry website, had also reported Sun was the target of an FBI investigation.

But in February, the SEC, now controlled by Trump appointees, agreed to a 60-day pause of the suit in order to seek a resolution.

Two months earlier, Sun purchased $30 million in crypto tokens from World Liberty Financial (WLF), the crypto venture backed by Trump and his family, the website Popular Information reported.

Eventually, Sun became the largest publicly known investor in World Liberty after he brought his funding total to $75 million.

According to Bloomberg News, per the terms of World Liberty’s financial structure, 75% of the proceeds of token sales like Sun’s get sent to the Trump family as a fee — meaning they may have directly earned as much as $56 million.

On Jan. 22 — two days after Trump was inaugurated — Sun posted on X, “if I have made any money in cryptocurrency, all credit goes to President Trump.”

In April, The Wall Street Journal reported that Joe Biden’s Justice Department had been investigating Sun, noting that researchers had estimated that more than half of all illicit crypto activity took place on Sun’s Tron blockchain platform. The Journal said it wasn’t clear whether the investigation was ongoing. It said Sun’s representatives declined to comment about what they called “baseless allegations about legal matters” while denying Tron enables criminal activity.

Sun may now be a multibillionaire, with a net worth estimated at $8.5 billion, according to Forbes. He reportedly was forced to spend $2 billion to shore up one of his crypto firms that was facing collapse in 2022.

He did not immediately respond to a request for comment about what he hoped to get out of the dinner with the president.

Sun has also earned headlines for purchasing ‘Comedian,’ an art installation composed of a banana duct-taped to a wall, for $6.2 million, and for buying lunch with Warren Buffett for $4.57 million.

This post appeared first on NBC NEWS

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Target calls price hikes a ‘very last resort’ for offsetting tariffs as sales slump

Raising prices on consumers to cover the costs of President Donald Trump’s tariffs will be Target’s ‘very last resort,’ CEO Brian Cornell said Wednesday.

The remarks came as Target reported weaker-than-expected sales in its first quarter and cut its full-year forecast. The retailer, whose business hasn’t fared as well against rivals better known for bargain prices, has “many levers to use in mitigating the impact of tariffs,” Cornell said.

Major retailers appear to be treading cautiously around the question of price hikes after Trump slammed Walmart last weekend for warning that shoppers could pay more due to tariffs. In the days since, Target, Lowe’s and Home Depot have each made carefully worded remarks about the potential for higher prices or minimized discussion of tariffs altogether.

Walmart said last week that it customers would likely start seeing some prices climb as soon as this month because tariffs have created a more “challenging environment to operate in.” While presidents typically avoid appearing to dictate individual companies’ strategies, Trump castigated Walmart on his social media platform, demanding that it “EAT THE TARIFFS” and adding, “I’ll be watching, and so will your customers!!!”

“We’ll keep prices as low as we can for as long as we can given the reality of small retail margins,” Walmart told NBC News Saturday in response to Trump’s post. Days later, Home Depot all but ruled out near-term price hikes, citing its scale and supply-chain arrangements. Lowe’s barely mentioned tariffs when it reported earnings Wednesday but said just 20% of what its shoppers buy now comes from China, after years of diversifying its sourcing.

For Target, Cornell emphasized that tariffs were just one factor in a series of “massive potential costs” the company is grappling with. He pointed to consumer uncertainty over the direction of the economy and a high-profile backlash over Target’s watering down of its diversity, equity and inclusion policies. The retailer had expanded those initiatives after police murdered George Floyd in its hometown, Minneapolis, five years ago this weekend.

Target has rolled out discounts over the past year to lure inflation-weary shoppers and touted plans to expand its third-party marketplace to offer a broader range of items. To deal with new trade policy challenges, it’s negotiating with vendors, reassessing its product lineup and adjusting its foreign supply chain, Chief Commercial Officer Rick Gomez told investors Wednesday.

‘Half of what we sell comes from the U.S.,’ he said, adding that Target is expanding production in the United States and in other countries outside of China, whose exports currently face a 30% import tax.

Target’s stock fell more than 5% Wednesday during a broader market sell-off.

Some major companies that sell products at leading retailers have raised prices or said they’re considering doing so, including toolmaker Stanley Black & Decker, consumer products giant Procter & Gamble, sportswear brand Adidas and toy maker Mattel.

Mattel, the maker of Barbie dolls, has also come under fire from Trump, who threatened to hit it with 100% tariffs this month, after it signaled price hikes were on the table.

Big companies generally have more latitude to handle cost increases and other economic headwinds than their smaller counterparts. The U.S. Chamber of Commerce and independent business owners have warned that tariffs threaten to snuff out many small operators, chipping away at the competition for already large corporate rivals.

The National Retail Federation, which represents some of the biggest retailers in the country, has emphasized that risk in lobbying against new levies. “Small and medium-sized businesses will be disproportionately affected by the tariffs, with many saying they will have to raise prices or shut down,” it says on its website.

So far, “consumers are still spending despite widespread pessimism fueled by rising tariffs,” NRF Chief Economist Jack Kleinhenz said in a statement last week after retail sales eked out a modest 0.1% rise in April.

But even the largest multinational companies aren’t insulated from tariff-driven uncertainty, the NFR and industry analysts say. Like Target, several large firms have revised or scrapped their financial outlooks in recent weeks, unsure how the White House’s trade agenda will affect them. Nike plans to increase prices on several items between now and June 1, a person familiar with the matter told NBC News on Wednesday.

Not every retailer is voicing tariff jitters. The parent company of T.J. Maxx and Marshalls beat sales estimates Wednesday and maintained its full-year forecast. The discounter, which buys unsold merchandise from other brands that have already paid tariffs on much of it, said it expects to be able to handle the pressure from higher import taxes.

Sportswear brand Canada Goose, which makes popular winter jackets, also exceeded Wall Street expectations. But it joined the slew of companies pulling their forecasts for the rest of the year, citing an “unpredictable global trade environment.”

This post appeared first on NBC NEWS

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South Africa’s Ramaphosa visits Trump for high-stakes talks that could reset or worsen fraught ties

South Africa’s President Cyril Ramaphosa will hold crucial talks at the White House with US President Donald Trump on Wednesday in a high-stakes meeting that could improve or deteriorate already frosty relations between the nations.

Ramaphosa is hopeful his visit could end a diplomatic feud that sparked aid cancellations by Trump and fueled the expulsion of his nation’s ambassador to the US.

There are also fears that the African nation could now potentially lose some of its US trade privileges as relations between the two countries sour.

Ramaphosa’s trip comes just over a week after a group of 59 White South Africans arrived in the US after being granted refugee status.

Trump and his ally Elon Musk, who was born and raised in the country, claimed the South Africans were being persecuted back home. On Tuesday, US Secretary of State Marco Rubio said it was in the US national interest to prioritize White South Africans for refugee resettlement, telling a hearing that they’re “a small subset” who “are easier to vet.”

The Trump administration has sharply criticized an expropriation law, which was enacted in South Africa earlier this year. The law empowers South Africa’s government to take land and redistribute it with no obligation to pay compensation in some instances.

Trump claimed that lands belonging to South Africa’s minority Whites, who own 72% of the nation’s agricultural land, were being targeted for confiscation, and cited unverified claims that “a genocide is taking place” in South Africa. He added that “White farmers are being brutally killed” amid reports of farm attacks.

Trump also disapproves of South Africa’s genocide case before the International Court of Justice against the US ally Israel.

Ramaphosa’s office said he would “discuss bilateral, regional and global issues of interest” with the US president at the White House. Analysts say the meeting could pose a tipping point for their fraught ties.

The US is South Africa’s second-largest trading partner, and the African nation benefits the most from a US trade agreement that provides preferential duty-free access to US markets for eligible sub-Saharan African nations.

Under that agreement, South Africa is the main agricultural exporter and exports two-thirds of its agricultural goods to the US, tariff-free. But some US lawmakers want those benefits withdrawn when the trade agreement is reviewed this year.

‘A tricky place to be’

South African researcher Neo Letswalo describes the anticipated meeting as “make-or-break” and one that requires “supreme negotiation tactics” by Ramaphosa.

The South African leader is set for a tight rope walk at the White House, he added, reminiscing about a shouting match that broke out in the Oval Office between Trump, his Vice President JD Vance, and Ukrainian President Volodymyr Zelensky in late February.

He believes that “Ramaphosa would maintain his composure to iron out some of the misunderstandings that Trump’s administration officials have about South Africa.”

Other analysts, such as Christopher Afoke Isike, who is a professor of African politics and international relations at the University of Pretoria, believe that Ramaphosa can pull through, “considering the fact that he’s a businessman president like President Trump.”

Ramaphosa plans to soften the ground with a potential licensing deal for Starlink, a satellite internet service owned by Musk, Ramaphosa’s spokesman Vincent Magwenya told Reuters Monday.

What could go wrong?

For Letswalo, the crucial talks between Trump and Ramaphosa could hit a brick wall if the White House makes costly demands.

“A dealbreaker would be a request by Washington for Pretoria to retrieve the Land Expropriation Act or Gaza Case in order to continue the US-SA relationship,” he said, adding, “it would be interesting to see how President Ramaphosa maintains the sovereignty and his statement of ‘not going to be bullied by America’, without compromising the pre-existing relationship with the US.”

That task could be one of Ramaphosa’s most challenging, according to André Duvenhage, a politics professor at South Africa’s Northwest University.

“This may be his single biggest challenge in terms of anything he had to deal with in his term as president of the Republic of South Africa.”

This post appeared first on cnn.com

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Putin makes first visit to Kursk since Russia claimed to have recaptured the region

Russian President Vladimir Putin visited Kursk for the first time since Moscow claimed to have completely recaptured the region following a surprise incursion by Ukrainian forces last year, Russian state news agency TASS reported on Wednesday.

Putin met with municipal leaders in the city of Kurchatov and visited the Kursk nuclear power plant, which is currently under construction, the Kremlin said, according to TASS.

Video footage posted by Russian state media showed Putin dressed in a suit speaking with what appeared to be local volunteers.

The news agency did not report when the visit took place.

Last August Ukraine launched a shock incursion into Kursk, swiftly capturing territory in what was the first ground invasion of Russia by a foreign power since World War II.

Since then, Russia, with support from North Korean soldiers, has been fighting to oust Ukraine’s forces from its borders, while Kyiv poured precious resources into holding onto its territory there, with the view of using it as a key bargaining chip in any peace talks.

Putin claimed last month that Russian forces had recaptured Kursk and said North Korean soldiers took part in the fighting to recover territory in the region.

Kyiv has insisted its troops are fiercely battling to preserve their foothold in the territory.

Last week Ukraine said it is still pursuing the ground war inside Russia.

“We are continuing our active operations in the Kursk and Belgorod regions – we are proactively defending Ukraine’s border areas,” President Zelensky said in his nightly address last Wednesday.

This post appeared first on cnn.com

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Japan’s farm minister resigns over rice gaffe, as stubbornly high prices threaten government’s grip on power

An off-the-cuff remark about never paying for rice has cost Japan’s agriculture minister his job, as pressure mounts on the government to solve the nation’s rice crisis.

Taku Eto resigned on Wednesday, telling reporters that he had concluded he was “not the right person for this role” after sparking a public backlash by saying that he had “so much rice at home that (he) could sell it.”

The cost of rice – Japan’s prime staple food – has become a major political issue, with prices surging to record highs this year and the government taking the rare steps of releasing emergency reserves and importing foreign rice.

Eto’s gaffe could not have come at a worse time for Prime Minister Shigeru Ishiba’s government, which was already suffering from low approval ratings due to spiraling cost of living, weeks ahead of an election.

“I have never bought rice myself. Frankly, my supporters give me quite a lot of rice. I have so much rice at home that I could sell it,” Eto said in a speech over the weekend, drawing the ire of the public.

He later clarified he did buy his own rice and said he “deeply regretted” his comments.

“I made an extremely inappropriate remark as the minister responsible. For that, I apologize once again to the people of Japan,” Eto said Wednesday after tendering his resignation.

He added that he “fully recognized” the hardship people are facing due to soaring rice prices.

A major threat

Frustrations over the rising cost of living in Japan is shaping up to be a major threat for Prime Minister Ishiba and his Liberal Democratic Party as the country heads to the polls for upper house elections in July.

The latest approval ratings for Ishiba’s cabinet slipped to 27.4%, a record low, according to a poll by Japanese news agency Kyodo released on Sunday. Almost one in nine of the households surveyed said the government’s efforts to rein in rice prices had been insufficient.

Ishiba’s party, which has ruled Japan for almost all of its post-war history, suffered a crushing defeat in last year’s lower house election, but he held on to power by seeking support from minor parties.

Further defeat in the coming elections could threaten his coalition’s rule and spark calls for a new leader.

Rice price stubbornly high

Despite the government’s attempts to bring them down, rice prices in Japan have remained stubbornly high – almost twice what they were a year ago.

The average retail price of rice rose to 4,268 yen ($29.4 US) per five kilograms in the second week of May, reversing a brief decline in 18 weeks recorded in the previous month, according to the Ministry of Agriculture, Forestry and Fisheries.

Earlier this year, it took the rare step of putting hundreds of thousands of tons of rice from its emergency reserves up for auction, in a bid to drive down prices. Multiple auctions have since been scheduled until July, with hundreds of thousands of tons of rice being released.

Japan, which takes deep pride in its homegrown rice, has also scaled up imports of rice from overseas, mainly from the US. In April, it also imported South Korean rice for the first time since 1999.

Dealing with the rice crisis is now the job of Shinjiro Koizumi, a former environment minister and son of a former Japanese Prime Minister, who Ishiba has appointed to head the Ministry of Agriculture, Forestry and Fisheries.

“I have instructed Mr. Koizumi to make strong efforts to supply rice to consumers at a stable price, especially in light of the current high rice prices,” Ishiba said.

This post appeared first on cnn.com

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