“I really don’t know what he said at the end of that sentence,” Trump said when given the chance to respond to a different Biden answer, on immigration. “I don’t think he knows what he said, either.”

Democrats Can’t Avoid the Biden Problem The debate showed the President clearly isn’t up to four more years in office.-WSJ

Obviously when CNN and MSNBC are calling for you to be replaced you have a problem. No idea what happens from here, Newsom looked presidential in the interview I saw. Is the narrative that Joe has to be replaced, or is it this?

I thought Trump could have done a lot better. While millions of American’s are suffering with high inflation and worried about a number of issues, going back and forth over who’s the worst President or who is a better golfer didn’t really answer any of those questions. I also think he should have answered the question about affirming the election results. I know why he didn’t, but he knew it was coming and had a lot of time to prep for it, he could have come up with something.

From Erick-Woods Erickson

Forget your perspective as a Trump fan. He still needs to lock in the undecided voters who might be on the verge of getting a taste of a shiny new candidate on the other side. Think about them. Trump had an opportunity to speak more about the future, but he kept relitigating the past and arguing over insults. He outshined Biden, but that’s like a living person running faster than a cadaver.

Market

The market managed to eke out a gain yesterday with NVDA down and overall weakness in semi’s. Futures look up nicely this morning, however we do have PCE later. Commentary I’m seeing about how the green is due to the debate last night. I didn’t see futures prior so not sure, also not sure that the debate makes it more likely Trump wins as I do think it makes it more likely that Biden gets replaced. We will see, a lot of time and a lot left to happen.

Democrats Privately Discuss Replacing Biden on Presidential Ticket-WSJ

Meanwhile, this is the real story…..

AI Frenzy Propels Stocks to Monster First Half-WSJ

“It’s early innings, we think, of a multiyear secular bull phase in AI,” said Mona Mahajan, senior investment strategist at Edward Jones.

This is also important…

The equal-weighted index is up just 4% so far this year, underperforming the S&P 500 by 11 percentage points—on pace for the biggest gap in the first half of a year in data going back to 1990, according to Dow Jones Market Data.

The main name on my watchlist this morning is CEG, which is a play on AI power demand.

I’m also looking to buy the dips in industrial metals.

Woke Companies

Nike wants to sell fewer classic sneakers, roll out more new ones in bid to revive demand-MarketWatch

Looks like a double top short..

Not Woke Companies

Tractor Supply Ditches DEI, Climate Goals After Online Attacks-Bloomberg

Tractor Supply Co., the US retailer focused on rural lifestyle products, is scrapping its climate targets and diversity, equity and inclusion goals after weeks of online attacks.

The Tennessee-based company has been hit with criticism over its policies on social media, including from right-wing activist Robby Starbuck.

“We have heard from customers that we have disappointed them,” Tractor Supply said in a statement posted to its website. “We have taken this feedback to heart.”

Watch for an undercut and rally at the 50 day.

ESG

Texas Judge Hears ESG Lost American Airlines 401(k) $15 Million-Bloomberg

An American Airlines Inc. pilot and other 401(k) plan investors told a Texas federal judge the company placed its “incestuous” relationship with BlackRock Inc. ahead of its fiduciary duty, resulting in a $15 million worker benefits loss.

DEI

The Battle Over DEI Is Far From Over-The Heritage Foundation

Vance and Cloud’s bill takes a blowtorch to DEI. It would dismantle DEI programs (such as the “anti-racist” trainings that have cropped up at offices and schools and all other areas of American life), rescind President Joe Biden’s many DEI executive orders, outlaw DEI loyalty pledges, etc.

It has no chance of passing and being signed into law while the Democrats have the Senate and Biden is president. But it becomes an important stick in the ground. If former President Donald Trump is elected president in November, this bill should be his blueprint, something he already championed as president.

Woke Stuff

Shame. Doctor Why? – the sad degeneration of Doctor Who into unwatchable woke propaganda-Mercator

War

Israel and Hezbollah Lurch Closer to War-Bloomberg

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