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The Seasonality Trend Driving XLK and XLI to New Highs

Stock 6 Mins Read

For those who focus on sector rotation, whether to adjust portfolio weightings or invest directly in sector indexes, you’re probably wondering: Amid the current “risk-on” sentiment, even with ongoing economic and geopolitical uncertainties, can seasonality help you better anticipate shifts in sector performance?

Current Sector Performance Relative to SPY

To find out, let’s first look at how sectors are performing relative to the SPDR S&P 500 ETF (SPY), our S&P 500 proxy. The StockCharts Market Summary Mini Charts tab in the US Sectors panel shows you sector ETF performance and its relative performance against SPY.

FIGURE 1. MARKET SUMMARY US SECTORS PANEL. The new micro charts feature provides a chart of each sector’s ETF plus its relative performance against SPY, allowing you to gauge a sector’s strength against the broader market.

Looking at each sector chart over a three-month time frame, only two sectors are outperforming relative to SPY:

  1. Technology Select Sector SPDR Fund (XLK): Currently outperforming SPY by 13.85%.
  2. Industrial Select Sector SPDR Fund (XLI): Outpacing SPY by a modest 2.53%.

Spotlight on Technology and Industrials: Leading Sectors in a Risk-On Market

As a side note, Technology and Industrials are two sectors that align with the risk-on narrative. This suggests that the market is currently favoring higher-beta stocks (as XLK’s performance reflects) over safer sectors and that demand for industrial goods is generally rising, a sign investors expect the economy to strengthen.

Understanding Sector Seasonality: What History Tells Us

Now, let’s turn to seasonality. In this context, seasonality refers to the tendency for certain sectors to perform better during specific periods and worse during others. While past performance never guarantees future results, it can help you anticipate how a sector might behave based on historical tendencies, not certainties. 

So, what might the seasonality charts suggest about XLK and XLI in the coming months?.

XLK Seasonality Trends: Tech Sector’s Strongest Months

Take a look at XLK’s 10-year seasonality chart.

FIGURE 2. 10-YEAR SEASONALITY CHART OF XLK. While September appears to be tech’s only bearish month from a seasonality perspective, its strongest months are November and July. 

Over 10 years, July has been XLK’s second strongest month, with positive closes 90% of the time and an average monthly return of 4%. The most profitable month is November, with an 89% positive close rate and a 5% average monthly return. August isn’t bad, but July is exceptionally strong and reflects its current overall performance.

XLI Seasonality Patterns: When Industrials Tend to Outperform

Switching over to a seasonality chart of XLI, we get a similar picture.

FIGURE 3. 10-YEAR SEASONALITY CHART OF XLI. July is XLI’s strongest month for positive closes, and November is its strongest month for average seasonal returns.

This pattern is pretty exceptional: over the last 10 years, XLI has posted a historical 100% positive close rate in July, with an average return of 3.5%. The strongest returns, however, tend to occur in November, which shows an 89% positive close rate and an average return of 6.5%. The months in between are relatively unremarkable, making July and November stand out significantly. 

Technical Analysis of XLK and XLI

Will July be another up-month for XLK and XLI? Starting with XLK, let’s switch over to a six-month daily chart.

FIGURE 4. DAILY CHART OF XLK. Tech’s upward trajectory is now in overbought territory, yet there’s little sign of slowing.

XLK is at an all-time high, and there’s no clear indication that it’s pulling back just yet. 

Meanwhile, the Relative Strength Index (RSI) is suggesting that XLK has been occupying overbought territory since late June. However, bear in mind that an RSI reading at this level can sustain itself for an extended period. And if you look at the On Balance Volume (OBV) indicator, it suggests that the buying pressure trend is still rising with no signs of slowing down.

Actionable Tip: Remember, July is one of XLK’s historically strong seasonal months. 

  • But if it does pull back soon, you might expect a bounce near $242.50, which is an area marked by a series of historical swing highs. 
  • Notice how the ZigZag line highlights these key swing points. 
  • Other areas of support sit around $235, its most recent swing low, and $225, the level of its most recent swing low.

Now let’s turn to the daily chart of XLI.

FIGURE 5. DAILY CHART OF XLI. Industrials are also surging, although buying pressure may be starting to decline.

Similar to the previous chart, XLI shows a move higher that places it well into all-time high territory. July is also an exceptionally strong month for XLI, but does it have enough fuel to return the seasonal 3.5% that it typically averages this month?

The RSI signals that XLI may be overbought, which, again, can remain there for some time, while the OBV suggests that buying pressure may be easing into a pullback. However, price continues its upward trajectory.

Actionable Tip: If XLI dips, the pullback may be shallow, potentially bouncing near $145, its most recent swing high. A more substantial support level lies around $141, where multiple swing lows have formed. If XLI drops below $141, you can expect further downside movement.

At the Close

While no strategy can guarantee success, combining seasonality insights with price action can help improve your market timing. Keep an eye on support levels as well as momentum and volume. Remember that the strongest months for XLK and XLI tend to be July (the current month) and November. You can add XLK and XLI to your ChartLists and keep an eye on them, especially in the months ahead. 

However, the big takeaway here is to consider using seasonality charts alongside the various tools in the Market Summary, whether you’re considering an individual stock, index (sector or industry), or other asset classes, like commodities and monetary metals. While price action can help you nail down specific market opportunities, seasonality charts can help contextualize current price action and anticipate potential future market scenarios.

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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Investing

Kobo Resources Confirms Additional High-Grade Gold Mineralization at Kossou with 15.5 m at 2.3 g/t Au, incl. 8.3 m at 3.43 g/t Au; Outlines Next Phase of Exploration at Kossou

Investing 18 Mins Read

 

  •   High-grade gold intercepts highlighted by 15.5 m at 2.30 g/t Au, incl. 8.3 m at 3.43 g/t Au at the Road Cut Zone  

    •  

  •   Initial drilling on the gap between Jagger and Road Cut Zone confirms target structure, warrants further testing  

    •  

  •   Current drill phase complete; Geological modelling and planning underway for 15,000 m drill program expected to begin in H2 2025  

    •  

 

 Kobo Resources Inc. (‘ Kobo’ or the ‘ Company ‘) ( TSX.V: KRI ) is pleased to report additional diamond drill results from the Road Cut Zone at its 100%-owned Kossou Gold Project (‘ Kossou ‘) in Côte d’Ivoire. Results from these holes continue to strengthen the Company’s understanding of the key structural controls that define this prospective target area.

 

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250710272213/en/  

 

 

Figure 1: Road Cut Zone Drill Hole Locations and Simplified Geology

 

 

The Company also completed an initial test of the gap between the Road Cut and Jagger Zones, confirming the presence of the interpreted structure. Additionally, the Company has provided an outline of its next exploration priorities as it advances plans for its next phase of drilling and regional target work.

 

  Diamond Drill Results – Highlights:  

 

  Road Cut Zone:  

 

  •   KDD0088  
    •   3.5 metres (‘m’) at 2.33 g/t Au from 81.0 m  

      •  

    •   1.0 m at 3.32 g/t Au from 119.0 m  

      •  

    •  

  •   KDD0090  
    •   9.75 m at 1.69 g/t Au from 67.25, including 5.10 m at 2.93 g/t Au, from 68.9 m and 1.0 m at 11.30 g/t Au from 68.9 m, and  

      •  

    •   11.0 m at 2.88 g/t Au from 140.0 m, including 3.0 m at 8.25 g/t Au from 143.0 m  

      •  

    •  

  •   KDD0091  
    •   5.0 m at 3.05 g/t Au from 28.0 m  

      •  

    •   15.5 m at 2.30 g/t Au from 123.0 m, including 8.0 m at 3.43 g/t Au from 126.0 m  

      •  

    •  

  •   KDD0092  
    •   6.0 m at 2.05 g/t Au from 88.0 m  

      •  

    •  

  •   KDD0093  
    •   6.0 m at 1.58 g/t Au from 76.0 m  

      •  

    •   7.95 m at 0.43 g/t Au from 106.0 m  

      •  

    •  

Edward Gosselin, CEO and Director of Kobo commented: ‘Our latest drilling has outlined additional strong gold mineralization at the Road Cut Zone, highlighting its scale and the consistency of grades and widths we are seeing along strike and down dip. Importantly, these results build on our understanding of the structural setting at Kossou and will help guide how we advance the Road Cut Zone in parallel with the Jagger Zone, including the structural corridor between the two targets.’  

 

He continued: ‘With this phase of diamond drilling now complete, our team is focused on advancing a larger, systematic program to further define the Jagger, Road Cut and Contact Zones, test the potential connection of the gap between these Jagger and Road Cut Zones, and expand our footprint to new targets identified at the Jagger South area and the underexplored western portion of the permit. Based on the work completed to date, we remain confident in the scale and continuity of mineralization at Kossou and believe the project continues to demonstrate significant potential as we move towards the next phase of drilling and a maiden Mineral Resource Estimate.’  

 

  Road Cut Zone Results  

 

Results from six diamond drill holes at the Road Cut Zone have been received. Holes KDD0088 to KDD0090 were drilled on three sections (RCZ725 to RCZ775) (see Figure 1) to test gold mineralization associated with diamond drill hole KDD0056 , which previously returned 10.0 m at 4.57 g/t Au ( see press release dated January 30, 2025 ).

 

  KDD0090 intersected two zones of strong gold mineralization: an upper intercept of 9.75 m at 1.69 g/t Au , including 1.0 m at 11.20 g/t Au , highlighting the high-grade nature of the cross-cutting V2 veins within the dominant northerly trending shear systems. The second intercept, 11.0 m at 2.88 g/t Au from 140.0 m, including 3.0 m at 8.25 g/t Au from 143.0 m, supports the continuity of high-grade mineralization within a previously identified structure (see Figure 2). Results from KDD0088 and KDD0089 , which returned 3.5 m at 2.33 g/t Au from 81.0 m, illustrate the variability of gold grades within the well-defined shear zones at the Road Cut Zone. These mineralised zones remain open at depth and will be targeted in future drilling.

 

A second set of holes, KDD0091 to KDD0093 (see Figure 3), targeted an area of artisanal mining previously trenched and sampled by the Company, which returned strong gold mineralization including trench KTR070 with 28.0 m at 4.44 g/t Au and trench KTR069 with 6.0 m at 2.50 g/t Au ( see press release dated December 5, 2023 ). Previous diamond drilling on this target also confirmed strong mineralization, including hole KDD0012 , which intersected 11.0 m at 1.71 g/t Au from 50.0 m ( see press release dated July 11, 2024 ).

 

All drill holes intersected significant gold mineralization, highlighted by KDD0091 , which returned 15.55 m at 2.30 g/t Au from 123.0 m, including 8.30 m at 3.43 g/t Au from 126.0 m. The mineralized zone is characterized by strong shearing within the basaltic host rocks, cross-cut by a series of V2 and V1 veins that are strongly altered and host gold mineralization that was consistent throughout the interval. This zones shows excellent continuity from surface down dip on the section RCZ500 (see Figure 4). Additional drilling is being planned to test these structures to the north and south along strike of shear zone and to depth.

 

  Testing Structural Corridor Between Jagger and Road Cut Zones  

 

One hole, KDD0087 , was drilled within the interpreted structural corridor between the Road Cut and Jagger Zones. The hole intersected a well-defined shear zone near surface but did not return significant gold mineralization. The presence of the shear structure provides further support for Kobo’s geological interpretation in this area. Additional drilling is planned to continue assessing the potential structural linkages and mineralization continuity between these two high-priority targets.

 

  Soil Geochemistry to Define Targets: South Jagger and Western Kossou Permit Area  

 

The Company has extended detailed infill soil geochemistry across the South Jagger Zone, collecting 270 samples to date. Previous infill sampling on a 25 m by 25 m grid proved effective in defining drill-ready targets at the Road Cut, Jagger and Kadie Zones further north. The South Jagger soil anomaly, which consistently returned values up to 1000+ ppb Au, now extends over a distance greater than 2 km, reinforcing its potential for follow-up drilling.

 

In addition, recent soil geochemical surveying has outlined a new northwest-trending anomaly of over 400 m in the western portion of the Kossou Permit, with individual sample results returning values up to 1,380 ppb gold. These results further support systematic target definition and demonstrate the upside potential across less-explored portions of the permit.

 

  Update on Regional Exploration: Kotobi Permit  

 

At the Kotobi Permit, the Company has collected 1,942 soil samples to date, with additional results pending. Recent work has defined a 50+ ppb gold-in-soil anomaly extending over 400+ m of strike length, with individual samples returning between 370 ppb and 1,420 ppb Au. Follow-up pitting and trenching are currently underway to better define this anomaly and assess its potential for future exploration work.

 

  Earn-In Agreement: NESDAVE MINING  

 

Regional scale soil geochemical sampling is underway at the Akoboissue Permit (PR0970). Information meetings are underway with local village chiefs and elders with respect to the Annépé Permit (PR0973) and regional scale soil geochemical sampling is expected begin shortly.

 

  Next Steps: Preparing for Expanded Drilling and maiden Mineral Resource Estimate at Kossou  

 

With this current phase of drilling now complete, the Company’s exploration and technical team is integrating the latest drill data into detailed geological models to refine its understanding of the structural controls at the Jagger and Road Cut Zones. This work will directly inform the Company’s next major drill campaign, which is anticipated to comprise more than 15,000 m of additional diamond drilling and begin in H2 2025. This expanded program will prioritize systematic step-out and deeper drilling at the Jagger Zone to support preliminary resource modelling, continue expansion drilling at the Road Cut Zone, and follow up on the interpreted structural corridor between the two zones.

 

Further, the Company plans to advance the Contact Zone with targeted drilling based on structural mapping completed to date and begin testing new targets on the western side of the Kossou Permit, supported by recent soil geochemical results indicating a strong northwest-trending gold anomaly. This methodical approach is designed to build on the Company’s drilling success to date, advance the potential for a future maiden Mineral Resource Estimate, and support the Company’s broader strategy to unlock value within Côte d’Ivoire’s highly prospective Birimian gold belt.

 

  Table 1: Summary of Significant Diamond Drill Hole Results  

 

                                                                                                                                                                                                                                                                                                            

 

  BHID  

 

  

  East  

 

  

  North  

 

  

  Elev.  

 

  

  Az.  

 

  

  Dip  

 

  

  Length  

 

  

 

 

  

  From (m)  

 

  

  To
(m)  

 

  

  Int.
(m)  

 

  

  Au
g/t  

 

  

  Target  

 
 

KDD0087

 

  

228681

 

  

775702

 

  

278

 

  

70

 

  

-50

 

  

113.00

 

  

NSR

 

  

Jagger

 
 

KDD0088

 

  

228495

 

  

775956

 

  

289

 

  

70

 

  

-50

 

  

173.00

 

  

55.00

 

  

57.00

 

  

2.00

 

  

0.88

 

  

RCZ

 
 

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

  81.00  

 

  

  84.50  

 

  

  3.50  

 

  

  2.33  

 

  

  RCZ  

 
 

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

  119.00  

 

  

  120.00  

 

  

  1.00  

 

  

  3.32  

 

  

  RCZ  

 
 

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

143.00

 

  

144.00

 

  

1.00

 

  

1.61

 

  

RCZ

 
 

KDD0089

 

  

228487

 

  

775979

 

  

283

 

  

70

 

  

-50

 

  

179.00

 

  

59.00

 

  

62.00

 

  

3.00

 

  

0.56

 

  

RCZ

 
 

KDD0090

 

  

228500

 

  

775931

 

  

294

 

  

70

 

  

-50

 

  

182.00

 

  

  67.25  

 

  

  77.00  

 

  

  9.75  

 

  

  1.69  

 

  

  RCZ  

 
 

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

incl.

 

  

  68.90  

 

  

  74.00  

 

  

  5.10  

 

  

  2.93  

 

  

  RCZ  

 
 

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

incl.

 

  

  68.90  

 

  

  70.00  

 

  

  1.00  

 

  

  11.20  

 

  

  RCZ  

 
 

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

104.00

 

  

105.00

 

  

1.00

 

  

1.67

 

  

RCZ

 
 

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

  140.00  

 

  

  151.00  

 

  

  11.00  

 

  

  2.88  

 

  

  RCZ  

 
 

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

incl.

 

  

  140.00  

 

  

  146.00  

 

  

  6.00  

 

  

  4.66  

 

  

  RCZ  

 
 

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

incl.

 

  

  143.00  

 

  

  146.00  

 

  

  3.00  

 

  

  8.25  

 

  

  RCZ  

 
 

KDD0091

 

  

228480

 

  

776270

 

  

244

 

  

70

 

  

-50

 

  

161.00

 

  

  28.00  

 

  

  33.00  

 

  

  5.00  

 

  

  3.05  

 

  

  RCZ  

 
 

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

  123.00  

 

  

  138.55  

 

  

  15.55  

 

  

  2.30  

 

  

  RCZ  

 
 

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

incl.

 

  

  126.00  

 

  

  138.55  

 

  

  12.55  

 

  

  2.77  

 

  

  RCZ  

 
 

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

incl.

 

  

  126.00  

 

  

  134.30  

 

  

  8.30  

 

  

  3.43  

 

  

  RCZ  

 
 

KDD0092

 

  

228529

 

  

776261

 

  

226

 

  

70

 

  

-50

 

  

116.00

 

  

  88.00  

 

  

  94.00  

 

  

  6.00  

 

  

  2.05  

 

  

  RCZ  

 
 

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

104.00

 

  

106.00

 

  

2.00

 

  

0.67

 

  

RCZ

 
 

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

112.00

 

  

115.00

 

  

3.00

 

  

0.76

 

  

RCZ

 
 

KDD0093

 

  

228510

 

  

776307

 

  

225

 

  

70

 

  

-50

 

  

116.00

 

  

  76.00  

 

  

  82.00  

 

  

  6.00  

 

  

  1.58  

 

  

  RCZ  

 
 

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

106.05

 

  

114.00

 

  

7.95

 

  

0.43

 

  

RCZ

 
 

  Notes:  

 

Cut-off using 2.0 m at 0.30 g/t Au

 

Intervals are reported with no more than 3 m of internal dilution of less than 0.3 g/t Au except where indicated*

 

 

An accurate dip and strike and controls of mineralisation are unconfirmed and mineralised zones are reported as downhole lengths. Drill holes are planned to intersect mineralised zones perpendicular to interpreted targets. All intercepts reported are downhole distances.

 

  Sampling, QA/QC, and Analytical Procedures  

 

Drill core was logged and sampled by Kobo personnel at site. Drill cores were sawn in half, with one half remaining in the core box and the other half secured into new plastic sample bags with sample number tickets. Core samples are drilled using HQ core barrels to below the level of oxidation and then reduced to NQ core barrels for the remainder of the bore hole. Samples are transported to the SGS Côte d’Ivoire facility in Yamoussoukro by Kobo personnel where the entire sample was prepared for analysis (prep code PRP86/PRP94). Sample splits of 50 grams were then analysed for gold using 50g Fire Assay as per SGS Geochem Method FAA505. QA/QC procedures for the drill program include insertion of a certificated standards every 20 samples, a blank every 20 samples and a duplicate sample every 20 samples. All QAQC control samples returned values within acceptable limits.

 

  Review of Technical Information  

 

The scientific and technical information in this press release has been reviewed and approved by Paul Sarjeant, P.Geo., who is a Qualified Persons as defined in National Instrument 43-101. Mr. Sarjeant is the President and Chief Operating Officer and Director of Kobo.

 

  About Kobo Resources Inc.  

 

 Kobo Resources is a growth-focused gold exploration company with a compelling new gold discovery in Côte d’Ivoire, one of West Africa’s most prolific and developing gold districts, hosting several multi-million-ounce gold mines. The Company’s 100%-owned Kossou Gold Project is located approximately 20 km northwest of the capital city of Yamoussoukro and is directly adjacent to one of the region’s largest gold mines with established processing facilities.

 

With over 18,500 metres of diamond drilling, nearly 5,900 metres of reverse circulation (RC) drilling, and 5,900 metres of trenching completed since 2023, Kobo has made significant progress in defining the scale and prospectivity of its Kossou’s Gold Project. Exploration has focused on multiple high-priority targets within a 9+ km strike length of highly prospective gold-in-soil geochemical anomalies, with drilling confirming extensive mineralisation at the Jagger, Road Cut, and Kadie Zones. The latest phase of drilling has further refined structural controls on gold mineralisation, setting the stage for the next phase of systematic exploration and resource development.

 

Beyond Kossou, the Company is advancing exploration at its Kotobi Permit and is actively expanding its land position in Côte d’Ivoire with prospective ground, aligning with its strategic vision for long-term growth in-country. Kobo remains committed to identifying and developing new opportunities to enhance its exploration portfolio within highly prospective gold regions of West Africa. Kobo offers investors the exciting combination of high-quality gold prospects led by an experienced leadership team with in-country experience. Kobo’s common shares trade on the TSX Venture Exchange under the symbol ‘KRI’. For more information, please visit www.koboresources.com .

 

NEITHER THE TSXV NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSXV) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

 

   Cautionary Statement on Forward-looking Information:   

 

  This news release contains ‘forward-looking information’ and ‘forward-looking statements’ (collectively, ‘forward-looking statements’) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as ‘expects’, or ‘does not expect’, ‘is expected’, ‘anticipates’ or ‘does not anticipate’, ‘plans’, ‘budget’, ‘scheduled’, ‘forecasts’, ‘estimates’, ‘believes’ or ‘intends’ or variations of such words and phrases or stating that certain actions, events or results ‘may’ or ‘could’, ‘would’, ‘might’ or ‘will’ be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; and the delay or failure to receive board, shareholder or regulatory approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, Kobo assumes no obligation and/or liability to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.  

 

  

 

  View source version on businesswire.com:    https://www.businesswire.com/news/home/20250710272213/en/   

 

For further information, please contact:

 

Edward Gosselin
Chief Executive Officer and Director
1-418-609-3587
ir@kobores.com  

 

Twitter: @KoboResources | LinkedIn: Kobo Resources Inc. 

 

News Provided by Business Wire via QuoteMedia

This post appeared first on investingnews.com

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Politics

New book reveals what Obama and ‘conqueror’ Trump chatted about in viral moment during Carter’s funeral

Politics 3 Mins Read

President Donald Trump and former President Barack Obama chatted about golf during a viral moment of bipartisanship during former President Jimmy Carter’s funeral in January, just days before Trump’s return to the Oval Office, a new book detailing the unprecedented 2024 election cycle reported. 

Trump and Obama were seen smiling and quietly chatting with one another in the pews of the Washington National Cathedral on Jan. 9, 2025, in a moment that spread like wildfire on social media as Americans sounded off with speculation over what the pair of presidents who had long traded political barbs were talking about. 

‘2024: How Trump Retook the White House and the Democrats Lost America,’ which was released Tuesday, said that Trump arrived in Washington for Carter’s funeral as a ‘conqueror’ following the November 2024 election and sat next to Obama for the funeral service. 

‘He’d attended Jimmy Carter’s funeral, walking into Washington not as a scourge but as a conqueror,’ the book reported of Trump. ‘He could ignore the speech on character by the outgoing president, and the cold shoulder from the vice president he’d defeated.’

‘Instead he sat next to Barack Obama and invited him to play golf, enticing him with descriptions of Trump’s courses around the world,’ the book continued of the pair’s conversation. ‘He was no longer an anomaly. He was being treated like an American president. He wanted to be remembered as a great one.’

Trump and Obama were seated near other high-profile former U.S. leaders, including former President George W. Bush, former Vice President Mike Pence, former President Bill Clinton, former first lady and Secretary of State Hillary Clinton, as well as then-President Joe Biden and then-Vice President Kamala Harris.

Social media commenters at the time remarked that footage and video clips of the pair were unexpected, and others joked that Obama may have voted for Trump despite years of the pair trading political barbs. 

‘Trump and Obama sitting next to each other was not on the 2025 bingo card,’ one social media user posted to X in January. 

‘Did Obama vote for Trump too?!’ Clay Travis, founder of sports and politics commentary platform OutKick, joked at the time. 

‘We need lip readers to see what Trump said to make Obama laugh,’ another person posted to X in January. 

Trump was asked about the viral moment ahead of his inauguration, remarking that he ‘didn’t realize how friendly it looked.’

‘I said, ‘Boy, they look like two people that like each other.’ And we probably do,’ Trump added at the time. ‘We have a little different philosophies, right? But we probably do. I don’t know. We just got along. But I got along with just about everybody.’

Fox News Digital’s Kristine Parks contributed to this report. 

This post appeared first on FOX NEWS

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Amazon extends Prime Day discounts to 4 days as retailers weigh tariffs and price increases

Business 6 Mins Read

Amazon is extending its annual Prime Day sales and offering new membership perks to Gen Z shoppers amid tariff-related price worries and possibly some consumer boredom with an event marking its 11th year.

For the first time, Seattle-based Amazon is holding the now-misnamed Prime Day over four days. The e-commerce giant’s promised blitz of summer deals for Prime members started at 3:01 a.m. Eastern time on Tuesday and ends early Friday.

Amazon launched Prime Day in 2015 and expanded it to two days in 2019. The company said this year’s longer version would have deals dropping as often as every 5 minutes during certain periods.

Prime members ages 18-24, who pay $7.49 per month instead of the $14.99 that older customers not eligible for discounted rates pay for free shipping and other benefits, will receive 5% cash back on their purchases for a limited time.

Amazon executives declined to comment on the potential impact of tariffs on Prime Day deals. The event is taking place two and a half months after an online news report sparked speculation that Amazon planned to display added tariff costs next to product prices on its website.

White House Press Secretary Karoline Leavitt denounced the purported change as a “hostile and political act” before Amazon clarified the idea had been floated for its low-cost Haul storefront but never approved.

Amazon’s past success with using Prime Day to drive sales and attract new members spurred other major retail chains to schedule competing sales in July. Best Buy, Target and Walmart are repeating the practice this year.

Like Amazon, Walmart is adding two more days to its promotional period, which starts Tuesday and runs through July 13. The nation’s largest retailer is making its summer deals available in stores as well as online for the first time.

Here’s what to expect:

Amazon expanded Prime Day this year because shoppers “wanted more time to shop and save,” Amazon Prime Vice President Jamil Ghani recently told The Associated Press.

Analysts are unsure the extra days will translate into more purchases given that renewed inflation worries and potential price increases from tariffs may make consumers less willing to spend. Amazon doesn’t disclose Prime Day sales figures but said last year that the event achieved record global sales.

Adobe Digital Insights predicts that the sales event will drive $23.8 billion in overall online spending from July 8 to July 11, 28.4% more than the similar period last year. In 2024 and 2023, online sales increased 11% and 6.1% during the comparable four days of July.

Vivek Pandya, lead analyst at Adobe Digital Insights, noted that Amazon’s move to stretch the sales event to four days is a big opportunity to “really amplify and accelerate the spending velocity.”

Caila Schwartz, director of consumer insights and strategy at software company Salesforce, noted that July sales in general have lost some momentum in recent years. Amazon is not a Salesforce Commerce Cloud customer, so the business software company doesn’t have access to the online giant’s e-commerce sales and so is not privy to Prime Day figures.

“What we saw last year was that (shoppers) bought and then they were done, ” Schwartz said. “We know that the consumer is still really cautious. So it’s likely we could see a similar pattern where they come out early, they’re ready to buy and then they take a step back.”

Amazon executives reported in May that the company and many of its third-party sellers tried to beat big import tax bills by stocking up on foreign goods before President Donald Trump’s tariffs took effect. And because of that move, a fair number of third-party sellers hadn’t changed their pricing at that time, Amazon said.

Adobe Digital Insights’ Pandya expects discounts to remain on par with last year and for other U.S. retail companies to mark 10% to 24% off the manufacturers’ suggested retail price between Tuesday and Friday.

Salesforce’s Schwartz said she’s noticed retailers becoming more precise with their discounts, such as offering promotion codes that apply to selected products instead of their entire websites.

Amazon Prime and other July sales have historically helped jump-start back-to-school spending and encouraged advance planners to buy other seasonal merchandise earlier. Analysts said they expected U.S. consumers to make purchases this week out of fear that tariffs will make items more expensive later.

Brett Rose, CEO of United National Consumer Supplies, a wholesale distributor of overstocked goods like toys and beauty products, thinks shoppers will go for items like beauty essentials.

“They’re going to buy more everyday items,” he said.

As in past years, Amazon offered early deals leading up to Prime Day. For the big event, Amazon said it would have special discounts on Alexa-enabled products like Echo, Fire TV and Fire tablets.

Walmart said its July sale would include a 32-inch Samsung smart monitor priced at $199 instead of $299.99; and $50 off a 50-Inch Vizio Smart TV with a standard retail price of $298.00. Target said it was maintaining its 2024 prices on key back-to-school items, including a $5 backpack and a selection of 20 school supplies totaling less than $20.

Independent businesses that sell goods through Amazon account for more than 60% of the company’s retail sales. Some third-party sellers are expected to sit out Prime Day and not offer discounts to preserve their profit margins during the ongoing tariff uncertainty, analysts said.

Rose, of United National Consumer Supplies, said he spoke with third-party sellers who said they would rather take a sales hit this week than use up a lot of their pre-tariffs inventory now and risk seeing their profit margins suffer later.

However, some independent businesses that market their products on Amazon are looking to Prime Day to make a dent in the inventory they built up earlier in the year to avoid tariffs.

Home fragrance company Outdoor Fellow, which makes about 30% of its sales through Amazon’s marketplace, gets most of its candle lids, labels, jars, reed diffusers and other items from China, founder Patrick Jones said. Fearing high costs from tariffs, Jones stocked up at the beginning of the year, roughly doubling his inventory.

For Prime Day, he plans to offer bigger discounts, such as 32% off the price of a candle normally priced at $34, Jones said.

“All the product that we have on Amazon right now is still from the inventory that we got before the tariffs went into effect,” he said. “So we’re still able to offer the discount that we’re planning on doing.”

Jones said he was waiting to find out if the order he placed in June will incur large customs duties when the goods arrive from China in a few weeks.

This post appeared first on NBC NEWS

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