House Oversight Chairman James Comer is cranking the investigation into Rep. Ilhan Omar’s husband, Tim Mynett, into overdrive – demanding a full accounting of shadowy international business trips and deals that stretch from the Horn of Africa straight into Kenya, Somalia and the glittering skyscrapers of Dubai.

Omar has been making strange moves since February, after Comer fired off a no-holds-barred letter demanding every document and communication on Mynett’s travel and business dealings in Kenya, Somalia and the UAE. Since then, the story has exploded again with several stunning new twists: Omar quietly amended her 2024 financial disclosure in late March, slashing the reported $30 million fortune down to nearly zero; just nine days later, on April 4, the California winery central to those valuations was officially dissolved; forensic accountants have publicly torn into the revised numbers for major inconsistencies.

Ilhan Omar has to explain how a business who has no equipment, no location, no bottles, no stickers, appears to have no employee wages, no vineyard, no wine tasting room, no tours, no product, no shipping, no marketing, no lids, no boxes, no barrels, no license, no freight… pic.twitter.com/qKxYp3WhL7

— Angela Rose (@angelaroosee) April 25, 2026

The Feb. 5 letter ordered Mynett – president of Rose Lake Capital LLC and co-owner of the now-defunct eStCru LLC winery – to hand over every record related to travel or business solicitation in those three countries. The Feb. 19 deadline came and went with no public confirmation that Mynett ever complied.

Omar’s original 2024 disclosure, filed in May 2025, showed the two firms exploding in value from a combined $51,000 in 2023 to as much as $30 million the following year. Rose Lake Capital was listed between $5 million and $25 million; the winery sat between $1 million and $5 million. Then came the late-March amendment, in which Omar blamed an accountant’s error in netting out liabilities. The companies’ reported net value was wiped to zero and the couple’s total household assets were slashed to between $18,004 and $95,000.

Nine days after that amendment, California business records show eStCru LLC was officially terminated and dissolved on April 4. The winery had never owned a vineyard, tasting room or major production equipment. It produced only tiny batches at a shared custom-crush facility, had no active phone line and went dark on social media years ago. It was already dogged by investor lawsuits alleging fraud. One Washington, D.C., restaurateur, Naeem Mohd, claimed he invested roughly $300,000 after being promised a 200% return in 18 months – plus 10% monthly interest if late. A separate cannabis-related venture involving Mynett’s partner William Hailer ended in a roughly $1.2 million settlement after investors accused the duo of misappropriating funds.

According to Comer’s letter, Rose Lake Capital had marketed itself as a globe-trotting player with “deep global networks” built from on-the-ground work in more than 80 countries. Its website – later scrubbed of officer and advisor names, including former diplomats – hyped sustainable investments and solar-panel projects across Africa. One partner reportedly received a $10,699 business-class ticket to Dubai for deal discussions. The firm once claimed to manage $60 billion in assets – an eye-popping figure for a company that, according to earlier disclosures, had less than $1,000 in the bank in 2023.

Because of this, “unknown individuals may be investing to gain influence” with Omar. The timing has fueled even more suspicion: the reported wealth spike overlapped with the massive social-services fraud scandals ripping through Minnesota’s Somali-American community – the heart of Omar’s district – where authorities allege billions in taxpayer dollars were looted through fake daycare and nutrition programs.

Mynett’s past adds another layer. Before launching these ventures, he and partner Hailer ran E Street Group, a political consulting firm that pulled in nearly $3 million from Omar’s own congressional campaigns. Former associates described the pair as well-connected Democratic insiders.

Omar’s office has dismissed the entire inquiry as a “political stunt” and “smear campaign.” Mynett has not responded publicly to the document demands or the sudden shutdown of the winery.

President Donald Trump has repeatedly called for Omar to face criminal charges, linking her to what he claims is up to $2.5 trillion in Minnesota welfare fraud – a figure he has offered without direct evidence tying her personally to the full scale of the scandal.

As of April 26, 2026, the $30 million paper fortune has evaporated on paper, the vineyard is legally gone, and the international paper trail now leads from a quiet Sonoma wine label straight into East Africa and Dubai. The House Ethics Committee has the ball, Comer shows no signs of letting go, and citizen sleuths continue digging through the disclosures.

Whether this was a spectacular (if suspiciously timed) business success, a simple accounting blunder, or something far more troubling is the question lawmakers – and the public – now demand answered. The money trail is global. The clock is ticking. And the spotlight is burning brighter than ever.

* * * New ranch | Wagyu | Hotdogs (40) 

Maine Governor Janet Mills has vetoed a bill that would have temporarily limited the development of large data centers across Maine, despite expressing support for a broader pause on such projects, according to Maine’s website.

The governor said she would have approved the legislation if it had included an exemption for a $550 million data center redevelopment already underway at the former Androscoggin Mill in Jay, a project backed by local officials and seen as critical to economic recovery in the region.

Mills emphasized that while a moratorium makes sense due to concerns about environmental impact and rising electricity costs seen in other states, the bill in its final form failed to account for the Jay project’s potential benefits. The redevelopment is expected to bring hundreds of construction jobs, create at least 100 permanent positions, and restore a major portion of the town’s lost tax base following the mill’s closure in 2023.

The site says that Mills plans to move forward with an executive order to study the impact of large-scale data centers in Maine. She also signed separate legislation barring such projects from receiving state business tax incentives, signaling a cautious but measured approach to managing the industry’s growth.

“A moratorium is appropriate given the impacts of massive data centers in other states on the environment and on electricity rates. But the final version of this bill fails to allow for a specific project in the Town of Jay that enjoys strong local support from its host community and region,” she wrote. 

“The 2023 closure of the Androscoggin Mill dealt a devastating blow to the Town of Jay and its surrounding area. As a long-time resident of Franklin County, I know well how critical the mill was to generations of working families, and how important it is – and how challenging it has been – to promote reinvestment and job-creation at the former mill which is a brownfield site.  After prior redevelopment efforts failed, the Town of Jay worked for two years on a $550 million data center redevelopment project to finally bring jobs and investment back to the mill site.”

“I believe it necessary and important to examine and plan for the potential impacts of large-scale data centers in Maine, as the use of artificial intelligence becomes more widespread. Given the serious conversations about data centers here and around the country, I believe this work should commence without delay,” she concluded.

Meanwhile we wrote last week that the outlook for the US AI revolution looks increasingly more dim. 

That’s because, as Canaccord Genuity analyst George Gianarikas writes, “the American data center boom is hitting a formidable wall of logistical friction.” He is referring to the latest outlook by Sightline Climate, which is also reinforced by recent articles from Bloomberg and others, and reveals a sobering reality for 2026: nearly half of the nation’s planned 16-gigawatt capacity faces cancellation or delay, with only 5 gigawatts currently under construction.

This inertia stems from a volatile mix of local permitting hurdles, community resistance, and a desperate reliance on overextended global supply chains for critical components like transformers and helium.

That’s right: half. Despite $700BN+ of expected 2026 hyperscaler capex, nearly half of the data centers scheduled to begin operations in the US in 2026 “will either face delays or outright cancellations.”

The data, which comes from Sightline Climate’s 2026 Data Center Outlook,  suggests that just 30% – 50% of the ~16 GW of planned US capacity for the year will face risks, with only ~5 GW currently under construction!

* * * Know what’s not a massive bitch? 

This 2.5lb Tomahawk Steak

Several Gulf countries have discussed receiving dollar swap lines from the US, the WSJ reported last week. In the near term, there is an economic drag if volumes of oil and gas sales have fallen by more than the price effect can offset, or where tourist and business travel has dried up. The effect is similar to that of the pandemic: slowing growth and fiscal revenues, and accelerated demand for fiscal spending.

As the WSJ reported, UAE. Central Bank Gov. Khaled Mohamed Balama had raised the idea of a currency-swap line with Treasury Secretary Scott Bessent and Treasury and Federal Reserve officials in meetings in Washington. The Emiratis emphasized that they had so far avoided the worst economic effects of the conflict but might still need a financial lifeline.

The talks highlighted the U.A.E.’s concern that the war could inflict major damage on its economy and its position as a global financial hub, depleting its foreign reserves and scaring away investors who once saw it as a stable and secure place for their money. The conflict has damaged Emirati oil-and-gas infrastructure and shut off their ability to sell oil using tankers transiting the Strait of Hormuz, depriving it of a key source of dollar revenues. Meanwhile tourism, another key source of hard currency, has also been throttled as a result of regional instability. 

Emirati officials haven’t made a formal request for a swap line, which would give the UAE. central bank inexpensive access to dollars to support its currency or shore up its foreign reserves in case of a liquidity crisis. A swap line would also avoid forcing a liquidation of dollar-denominated assets. The Emirati officials argued that it was President Trump’s decision to attack Iran that entangled their country in a destructive conflict whose effects may not be over; they added that if the U.A.E. runs short of dollars, it may be forced to use Chinese yuan or other countries’ currencies for oil sales and other transactions, strongly hinting that UAE may be forced to seek financial backing from Trump’s arch-nemesis.

In that scenario is an implicit threat to the U.S. dollar, which reigns supreme among global currencies partially because of its near-exclusive use in oil transactions.

Gulf central banks hold dollar reserves in liquid assets like Treasury bonds and bills. However, using these reserves for fiscal support would be unwise according to UBS economist Paul Donovan who noted that “it would rapidly call into question the stability of the region’s currency pegs to the US dollar.”

The Emirati dirham is pegged to the dollar and backed by foreign-currency reserves of $270 billion, but the war has put it under pressures from capital-flight risks, stock-market volatility and other disruptions, analysts said. 

The credit-rating firm S&P Global said in a March 6 report that the U.A.E.’s “substantial fiscal, economic, external, and policy flexibility will act as an effective buffer” against the war’s economic effects. But it warned that “the potential for prolonged disruption” to its oil exports and damage to infrastructure “add clear risk to our expectations.”

The Fed used swap lines heavily used during the 2008 financial crisis, buying the currency of other borrowing central banks with dollars and later selling it back. It also used swap lines to support foreign central banks after the start of the Covid-19 pandemic. Countries that don’t have a swap line with the Fed can still exchange their holdings of Treasury bonds for dollars through a program administered by the New York Fed.

Gulf sovereign wealth funds are different. The region’s wealth fund holdings (in excess of USD 5 trillion) are not for currency stability, but to provide long-term income streams. Gulf sovereign wealth fund holdings skew toward US dollar-denominated assets, but they are generally held in less liquid assets.

Using these assets to meet short term fiscal needs risks disrupting US markets. That might risk a vicious downwards spiral (like the UK’s Truss debacle). Swap arrangements give Gulf economies the cash without creating disorderly markets. However, in the longer term, the need to reconstruct and rearm means that asset sales may be considered, UBS warned.

On Friday, Treasury Secretary Scott Bessent defended the possibility of the US participating in currency swaps with allies in the Persian Gulf and Asia who are seeking financial backstops due to the Iran war.

Discussions with those countries about US dollar swap lines “are part of ongoing, routine conversations that @USTreasury has been having with our partners over a number of years,” Bessent said in an X post, in which he offered a full-throated defense of additional swap lines.

Discussions with countries, including our Gulf and Asian allies, about U.S. dollar swap lines are part of ongoing, routine conversations that @USTreasury has been having with our partners over a number of years. They are a testament to the U.S. dollar’s primacy and the strength…

— Treasury Secretary Scott Bessent (@SecScottBessent) April 24, 2026

“They are a testament to the U.S. dollar’s primacy and the strength of America’s economic shield,” he said of the potential swaps adding that dollar dominance and reserve currency status are strengthened by constant long-term initiatives, including countering the growth of problematic, alternative payment systems,” he added. “Under @POTUS, this is American Economic Leadership at work.”

The assertion of swap lines’ benefits and commonness comes as the Trump administration considers offering the financial lifeline to the United Arab Emirates, CNBC reported Tuesday.

It also comes two days after Bessent said that “many” allies in the Persian Gulf are seeking the same backstop as the ongoing war wreaks havoc on the oil-rich nations’ economies.

A potential swap line runs the risk of being seen as an unnecessary bailout of a foreign country — especially if it’s a rich one like the UAE, which has one of the world’s highest per capita incomes.

The Treasury can provide its own version of swaps using its Exchange Stabilization Fund (ESF), though traditional swaps are most often offered by the Federal Reserve. The arrangements can pose political risks for President Donald Trump, whose approval ratings on the economy have sunk as war-induced supply shocks rapidly raise prices for gasoline and other products, exacerbating Americans’ existing inflation woes. 

Trump, asked on CNBC’s “Squawk Box” Tuesday about a possible UAE swap line, appeared to say he is in favor of it.

“If they had a problem … I would be there for them,” Trump said.

Gulf countries have also raised billions of dollars in debt from investors – primarily PIMCO – in recent weeks via private deals, highlighting their push to have cash on hand as they face what the International Energy Agency has called “the most severe oil-supply shock in history.”

Bahrain also set up a roughly $5 billion swap line with the UAE. earlier this month to help improve financial stability, the countries’ central banks said.

Finance ministers and central bankers in Washington for the IMF and World Bank meetings said they didn’t expect an easy or swift recovery for the region.

“The basic logistics of scheduling tankers and bringing them back after the chaos we have seen, that will take possibly to the end of June,” said Mohammed Al-Jadaan, Saudi Arabia’s finance minister, during a panel on Thursday. “Anyone who’s counting for a quick recovery, even if there is a total end of hostilities, will need to recalculate that.”

Stocks futures fell and oil and the dollar jumped in early trading, as risk sentiment was dented after Trump scrapped his envoys’ trip to Pakistan for Iran talks, breaking down momentum toward a second round of peace talks between the US and Iran, even as the Strait of Hormuz remains indefinitely blocked. 

Futures contracts for the S&P 500 Index dropped 0.3% after the underlying index closed at a record on Friday, although with two-thirds of S&P constituents closing red: this was the second worst negative breadth all-time high for the S&P following the bizarre October record high when the S&P printed an ATH with 80% of stocks lower.

The last 2 all-time highs have been on negative breadth: Friday’s record saw 324 SPX companies close lower; this was the 2nd worst negative breadth record only after Oct 28, 2025 when the S&P closed at a record with 80% of S&P companies red. pic.twitter.com/J5TBJZvvLS

— zerohedge (@zerohedge) April 25, 2026

The dollar rose against most major peers, with risk sensitive currencies such as the South African rand among the biggest laggards. Brent crude oil rose more than 2% above $107, the highest in 20 days. US Treasury futures edged lower in early trading.

The soft start to a very busy week – the bulk of the S&P is set to report in the next few days including most Mag 7s (MSFT, AMZN, META, GOOGL, AAPL) – comes after efforts to resume US-Iran peace talks collapsed over the weekend when Trump abruptly canceled a planned trip by his top envoys and Tehran said it won’t negotiate under threat. The setback adds to concerns for global equities at or near record highs (hedge funds just sold the most tech stocks in two years) with Brent crude oil rising to a 20 day high elevated bond yields from Sydney to London driving up borrowing costs.

Investors are still encouraged by strong corporate earnings and the AI boom “while keeping the US-Iran situation on their side mirrors,” said Indosuez Wealth strategist Francis Tan. But “the market is driving at 120km/h now and may have less reaction time when it is really time to change lanes.”

There have been some signs that investor enthusiasm for the biggest beneficiaries of the month-long rally may be waning. According to Goldman and BofA’s trading desks, investors should hedge across rate sensitive areas of the market such as small caps, regional banks and gold, adding that underperformance might still shake out those holding gold as high beta risk asset.

Separately, markets will remain on edge as major central banks including the Fed and Bank of Japan deliver policy decisions beginning Tuesday (no surprises expected). While investors expect them to all leave rates unchanged, traders will be alert to signs officials are worried about the inflation threat posed by the biggest disruption to oil supply in history from the Iran war.

A fresh round of speculation that policy tightening may come in coming months would be negative for government debt, which has already underperformed other assets in recent weeks as stocks and credit markets rallied with traders looking past the war. The Bloomberg GlobalAgg Index, a measure of global investment grade debt, has slid 1.7% since the Iran war broke out against the 1.5% gain in global stocks.

While the aggressive policy tightening cycle that was penciled in during the first part of the Middle East war has been partially unwound, “markets have been forced to recognize that the inflation threat is not over,” Marc Chandler, chief market strategist at Bannockburn Capital Markets wrote. April inflation reports are unlikely to offer relief from firm March readings and the spill over in to core prices is becoming more visible.

But the big variable for markets this week will not be geopolitics but earnings, with tens of trillions in market cap, some 42% of the S&P, set to report: Alphabet, Microsoft, Amazon.com and Meta are set to report Wednesday, followed by Apple a day later. The companies are worth nearly $16 trillion combined, representing a quarter of the S&P 500 Index’s market capitalization.

“It’s going to be a critical week,” said Keith Lerner, chief investment officer and chief market strategist at Truist Advisory Services. Results need “to validate this recent move,” he added.

Update: 

• Shooter’s archived tweets emerge 

• Shooter’s Manifesto explained about Trump admin target kill list. He wrote, “prioritized from highest-ranking to lowest” … 

• Shooter’s intent was to Target Trump & admin officials 

• Shooter donated to “Harris for President” via ActBlue 

• Shooter apprehended and taken into custody. Carrying shotgun, handgun and several knives. 

• The shooter has been identified as Cole Tomas Allen, 31, of Torrance California

• No injuries to Trump or any guests.

•  Incident near lobby magnetometer screening.

• Trump praised Secret Service rapid response.

Shooter’s Achieved X Posts Emerge

What is particularly alarming about WHCA dinner shooter Cole Allen is that his social media footprint does not reflect a fringe left-wing extremist, but rather an ordinary Democrat who appears to have been conditioned over the past decade by left-wing corporate media and radical left-wing NGOs. This toxic ecosystem manufactured an artificial informational environment in which President Trump was labeled, around the clock, as a “fascist,” a “Nazi,” and worse, inciting an existential crisis among weak-minded Democrats who have decided to take up violence in response.

This imbecile clearly doesn’t have the faintest clue what actual Nazis would be like

— Elon Musk (@elonmusk) April 26, 2026

We all remember that top Democrats have spent years calling Trump “fascist” and “Nazi” in an information war to delegitimize the president.

If you’re wondering why 3 attempts on President Trump’s life, that we know of, have happened, it’s because of people like Tim Walz who keep saying:

“No one has ever been more dangerous to this country than Donald Trump, and he is a fascist to his core!” pic.twitter.com/4QAy7vzvcJ

— Based Bandita (@BasedBandita) April 26, 2026

Where did Charlie Kirk’s murderer learn to call conservatives “fascists”?

“Do you think Donald Trump is a fascist?”

Kamala Harris: “Yes, I do. YES, I DO!” pic.twitter.com/RxDjgOYjKY

— RNC Research (@RNCResearch) September 12, 2025

Where they learned this from!

Democrats ARE the Party of Hate and of Inciting Violence. pic.twitter.com/ONhiBT5KgV

— Donna Marie (@sabback) September 10, 2025

Democrats have one strategy: it’s a color revolution. 

Shooter’s Manifesto 

CBS News’ Jennifer Jacobs has confirmed that the WHCA dinner shooter, Cole Allen, wrote a manifesto stating he was targeting Trump officials:

Administration officials (not including Mr. Patel): they are targets, prioritized from highest-ranking to lowest

Secret Service: they are targets only if necessary, and to be incapacitated non-lethally if possible (aka, I hope they’re wearing body armor because center mass with shotguns messes up people who aren’t

Hotel Security: not targets if at all possible (aka unless they shoot at me)

Capitol Police: same as Hotel Security

National Guard: same as Hotel Security

Hotel Employees: not targets at all

Guests: not targets at all

In order to minimize casualties I will also be using buckshot rather than slugs (less penetration through walls)

I would still go through most everyone here to get to the targets if it were absolutely necessary (on the basis that most people chose to attend a speech by a pedophile, rapist, and traitor, and are thus complicit) but I really hope it doesn’t come to that.

The manifesto also said:

And I am no longer willing to permit a pedophile, rapist, and traitor to coat my hands with his crimes.

(Well, to be completely honest, I was no longer willing a long time ago, but this is the first real opportunity I’ve had to do something about it.)

Fox News’ Will Ricciardella made the point that Allen “wasn’t some nut job lurking on the fringes of society, forgotten by the system.”

Ricciardella said Allen was “well-educated, credentialed, employed, and institutionally formed. That’s what makes this so disturbing.”

The WHCA alleged shooter wasn’t some nut job lurking on the fringes of society, forgotten by the system.

He was well-educated, credentialed, employed, and institutionally formed. That’s what makes this so disturbing.

At first glance, this doesn’t look like a breakdown of the…

— Will Ricciardella (@WillRicci) April 26, 2026

In reality, Allen is a byproduct of the Democratic Party’s psychological operation via corporate media to delegitimize Trump (color revolution), which has pushed many liberals into an existential crisis, making them believe they must act with violence. This is similar to MSM’s climate propaganda, where liberals actually believed the planet would burn in a few years unless more taxes were imposed and cow farts were banned.

The propaganda:

Allen must’ve had CNN playing on every device for ten years… 

Cole Allen, the gunman from last night’s WH Correspondents Dinner, maintained an active online presence, especially on the leftwing social media platform Bluesky where he went by the handle https://t.co/bpKnhC8M5a with multiple references violence and guns.

In one post he calls… pic.twitter.com/mvFBE0FAl7

— Andrew Kolvet (@AndrewKolvet) April 26, 2026

Even the globalist publication The Atlantic recently admitted…

MSM propaganda against Trump has pushed some liberals into an existential crisis mode, leading them to feel that violence is the only answer.

Report says Shooter’s Intent: Target Trump Admin Officials

New details have emerged about Cole Allen, 31, of Torrance, California, who opened fire at the Washington Hilton Hotel during the White House Correspondents’ Dinner last night.

Fox News’ Bill Melugin posted on X early Saturday:

Per federal law enforcement sources familiar with the investigation who spoke to @FoxNews, Cole Allen told investigators after his arrest that his intent was to target Trump administration officials at the WHCD.

NEW: Per federal law enforcement sources familiar with the investigation to @FoxNews, Cole Allen told investigators after his arrest that his intent was to target Trump administration officials at the WHCD.

— Bill Melugin (@BillMelugin_) April 26, 2026

GOP activist Scott Presler published Allen’s profile data, showing that he is a teacher in California and that he donated to the “Harris for President” campaign through the left-wing funding platform ActBlue.

HOLY COW

The gunman that opened fire at the White House Correspondents’ Dinner is 31-year-old Cole Allen

— a teacher from Torrance, California.

It appears that Cole donated via ActBlue to Kamala Harris for President.

Another radicalized democrat assassination attempt. pic.twitter.com/sEUCFCN0AF

— ThePersistence (@ScottPresler) April 26, 2026

Acting Attorney General Todd Blanche told Bloomberg’s Annmarie Hordern that Allen “acted alone after traveling by train from California and had been staying at the Washington Hilton, which was hosting the annual White House Correspondents’ Dinner.”

Acting Attorney General Todd Blanche tells NBC the suspect is believed to have acted alone after travelling by train from California and had been staying at the Washington Hilton, which was hosting the annual White House Correspondents’ Dinner.

— Annmarie Hordern (@annmarie) April 26, 2026

Let’s not forget that the globalist publication The Atlantic was recently forced to admit …

Shooting strengthens the case for President Trump’s new White House ballroom, which would make events like this safer. But activist judges have repeatedly halted construction.

Shooting at White House Correspondents’ Dinner

President Donald Trump was evacuated from the head table at the White House correspondent’s dinner on Saturday night after a gunman, allegedly 31-year-old Cole Thomas Allen, 31, of California – stormed the event and fired shots in the lobby. Authorities confirm the suspected shooter has been apprehended and is in custody after shots fired near the lobby screening area. President Trump, First Lady Melania Trump, and all protectees were safely evacuated with no injuries reported. The Secret Service continues investigating.

 Trump posted a picture of the suspect on Truth Social along with a video: 

According to Just the News, the gunman was not wounded and was carrying a shotgun, a handgun and several knives. 

In a White House press conference held shortly after the incident, Trump praised the Secret Service and law enforcement for their “fantastic job” and rapid response, describing the shooter as a “lone wolf” and “very sick person” from California who was armed with multiple weapons and charged a security checkpoint. He revealed that one Secret Service officer was shot at close range but was saved by his bulletproof vest and is “doing great,” while confirming the suspect was swiftly apprehended and taken into custody without harming any protectees. Trump noted he had “fought like hell to stay” at the dinner but deferred to security protocol, adding that the frightening event unexpectedly unified the ballroom and brought journalists and politicians together; he announced the White House Correspondents’ Dinner will be fully rescheduled within the next 30 days

This video was taken outside the venue: 

🚨🇺🇸 BREAKING: The suspect in the White House Correspondents’ Dinner shooting has been identified as 31-year-old Cole Tomas Allen of Torrance, California.

-Video has emerged showing someone on the ground with U.S. Secret Service agents inside the Washington Hilton

-Believed to… https://t.co/EOkEIKYxj1 pic.twitter.com/PQoka3QLSR

— Mario Nawfal (@MarioNawfal) April 26, 2026

According to Fox News‘ Karol Markowicz, the suspect is a 31-year-old from Torrance, California. 

🚨🇺🇸BREAKING: The first image of the alleged shooter from the White House Correspondents’ Dinner has emerged, showing a body on the stairs at the Washington Hilton surrounded by law enforcement.

Secret Service rushed Trump and other officials off the dais after gunfire erupted,… https://t.co/Y4xVaod1QP pic.twitter.com/YiVld5LUkV

— Mario Nawfal (@MarioNawfal) April 26, 2026

* * * Piss off a vegan…

Shots were fired during the 2026 White House Correspondents’ Dinner (WHCD) at the Washington Hilton ballroom on Saturday evening, prompting the immediate evacuation of President Donald Trump, First Lady Melania Trump, Vice President, and other high-profile attendees by Secret Service. Guests were ordered to take cover under tables as heavily armed agents secured the venue.

BREAKING

The U.S. Secret Service just rushed the President and First Lady off the dais at the White House Correspondents’ Dinner after the sound of shots being fired was heard.

They have since reportedly been evacuated. pic.twitter.com/p3KihVun9A

— Yashar Ali 🐘 (@yashar) April 26, 2026

According to Deadline’s on-site reporter Ted Johnson, who was present in the ballroom near the area of the incident: “I heard what sounded like four shots, and it seemed to come from the hall just outside the ballroom near my table.”

Key details from initial reporting:

• President Trump and dignitaries—including the First Lady, Vice President, WHCA President Weijia Jiang, and entertainer/mentalist Oz Pearlman—were quickly hustled out of the ballroom.
• Secret Service agents jumped onto the stage amid the chaos.
• Education Secretary Linda McMahon’s security detail told CNN live that there was a shooter in the lobby and that the shooter is dead.
• A separate White House Pool Report from Jeff Mordock of the Washington Times stated that Secret Service indicated the alleged shooter is in custody – however CNN is reporting that the shooter is dead. the shooter is in custody. 

Attendees described loud noises (consistent with gunfire), panic, people ducking, the room being placed on lockdown, and police/Secret Service sweeping the hotel. Trump and the First Lady were reported safe after a rapid evacuation shortly after arriving at the event. No injuries to attendees or dignitaries have been confirmed in initial accounts.

Security officials evacuated Mike Johnson (R-LA) after a gunman opened fire during the White House Correspondents’ Dinner in Washington, D.C.

📸: @idreesali114 pic.twitter.com/tugjGlCPA4

— Breaking911 (@Breaking911) April 26, 2026

This was President Trump’s first appearance at the WHCD as sitting president (he had boycotted the event during his first term). The dinner is an annual black-tie affair organized by the White House Correspondents’ Association that traditionally features journalists, politicians, and celebrity guests.

More

A woman is detained by law enforcement outside the Washington Hilton pic.twitter.com/7WIXnFhdDf

— Brendan Gutenschwager (@BGOnTheScene) April 26, 2026

Erika Kirk spotted in tears leaving WHCD after gunshots: “I just want to go home.” pic.twitter.com/XeUlSZ2ZrT

— TheBlaze (@theblaze) April 26, 2026

The beast rushing to The White House after attempted assassination. pic.twitter.com/BuvG9J1ImJ

— The TRUMP PAGE 🇺🇸 (@MichaelDeLauzon) April 26, 2026

* * *

By Peter Tchir of Academy Securities

Markets have been almost totally dismissive of the conflict in Iran. Frankly, the number of countries, including oil-rich nations, that had been firing at each other seemed quite high, yet most markets shrugged it off. While the Strait remained closed, or blockaded, or blocked, the market remained in Open Sesame mode this week.

Moonshot

Artemis II wasn’t the only “moonshot” we’ve seen.

The SOX index has jumped almost 50% since March 30th. That would be incredible, but 18 straight days of gains is wildly impressive! (Even the NY Mets could only do the same thing 12 days in a row, but in the other direction).

The lower chart is RSI (Relative Strength Indicator and one of my favorite technicals to look at). This index went from the cusp of oversold, to heavily oversold, to overbought territory in 2 weeks and gets “more” overbought by the day. Every strong chip earnings report not only “skyrockets” that stock, but it also pulls up the entire sector.

The AI and Data Center Buildout narrative remains completely intact even as “war” rages. If anything, the need for domestic AI and Data Centers is growing as physical security concerns continue in the Middle East.

Not Sure if “Laggards” Is the “Right” Word, But…

Quantum computing has bounced, but unlike the semis, it is not even at the highs of the year, let alone the highs from last year!

If you own a “quantum” ETF, you likely have seen far better returns in the past few weeks than this chart would indicate. But that is because the ETFs own a lot of semiconductors. QTUM (Defiance Quantum ETF), the largest “quantum” ETF at $4.1 billion, has TER as its largest holding. INTC, STM, and MU were the next largest holdings. So, I tried to identify 4 tickers from WQTM that seemed to be more “pure play” quantum.

We have yet to see a real breakout in Uranium and Rare Earths stocks.

REMX (for Rare Earths and Critical Minerals) and URA have bounced, but Uranium is still lower than it was before the war. If you look at the “small reactors” which were all the rage, their chart looks a lot more like the chart from the quantum stocks. Even in rare earths, names like MP, which the U.S. government invested in, is more than 35% lower than its high last October.

A warning sign? A rational reassessment? The next asset classes to “catch a bid”?

Bitcoin, where the news has generally been good, is still hanging around the $76k to $78k range. It has “recovered” the 100-day moving average, but has not rushed to “close the gap” with the 50-DMA. I’m watching this closely as another “next leg” of this rally. I cannot help but wonder if some of the “ceiling” on Bitcoin is due to concern that there may be some level of selling pressure from a country like Iran. Iran may not have Bitcoin, but given the fact that they allegedly asked for “safe passage” payments in crypto, it seems plausible that they do. Given the blockade and seizure of vessels, it would create pressure to sell (or transfer it to someone else who sells it) to fund their economy (if they have any).

I’m leaning towards a “breakout” as people look for anything remotely adjacent to new tech/chips that isn’t at its highs.

Markets Ignoring Stubborn Oil Prices Out the Curve

While we still see issues in LNG, Diesel, and Jet Fuel (also in the distillates and chemical industry), let’s go back to the big 2 – WTI and Brent.

WTI spiked to $120 March 9th and again got to almost $120 on April 7th. It is “comfortably” lower now, at $95. Brent spiked to $120 three times during the conflict and is “only” at $106. A bit less comforting than WTI.

But the story, as several people in the admin have pointed to, is what is happening to oil “out the curve.” When the admin was pointing this out, there was a pretty quick drop from “elevated” front end contracts as you moved out the curve. Now we are sitting at just under $80 for the November contract. That is closer to the highs of this conflict. The November contracts are now near their highs (since that “crazy” first weekend). It is difficult to be encouraged by this.

The further out the curve you go, the more it includes people “in the know” and less about speculation. And this pricing is consistent with the warnings that we keep hearing from participants in the physical products. I suspect that even in the event of a good deal with Iran, pricing out the curve doesn’t back down much from here.

It is possible that equities are fully pricing this in and don’t care. That the AI and Data Center story and current round of earnings are enough to cover this possibility.

I cannot help but wonder if we are being a bit complacent, especially since AFFORDABILITY has been an issue and has not dissipated in any way, shape, or form (at least not for the “average” American).

Maybe I’m looking too hard for something that might derail the rally (as opposed to the prior section when we were looking for what might benefit from the next wave), but I do have some concerns that people “in the know,” already “know” oil is going to remain uncomfortably high (for consumers) even if a good deal is reached.

Bottom Line

On rates, 4.25% is still the “midpoint” of our range. I think you buy 10s above 4.4% and sell if we get to 4.1%. Maybe a touch too wide of a range, but there is a lot of noise out there.

On credit, IG remains boring. HY has some interesting risks, so maybe a touch more cautious there, while I cannot help but want to nibble at the private credit/BDC space. IGV (software ETF) hung in last week, despite some headlines from the private credit side that could have hurt, and despite the massive rally in AI/Data Centers – which until recently didn’t seem good for software. IGV, BDCs, and Private Credit seem to be various forms of the same trade, and it is difficult not to scale in a little here, once again under the theory that they are under-owned and at some point capital will come looking for stocks with a story that is well off its highs.

On equity. European ProSec! Is Europe finally getting the joke? They are lending money to Ukraine to buy weapons. It has been reported that Sweden has been interdicting “ghost” ships to stop Russian oil sales. Many of the European stocks in the ProSec™ theme have been outperforming similar stocks in the U.S. Yes, Europe is more exposed to oil prices than we are, but that is precisely why you want to buy into their energy industry – the realization that they have to do something to reduce their exposure to regions outside of their control and harness their own resources!

I have to admit, I’m not even checking (or at least barely checking) Twitter for Iran headlines. Markets are closed, so nothing to say about them now, and by Sunday night, the story may have changed anyway, which in turn might look completely different by Monday morning. As a strategist, I think I’m either in the depression or acceptance phase of grief as it relates to trying to manage risk around the conflict.

Good luck and Academy will continue to try to bring our unique resources to bear on the geopolitical situation to help you navigate it as smoothly as possible!

On Friday, a report crossed the wire that Ford and Geely had been in discussions about collaborating more closely, including whether their developing European partnership could expand into the U.S. market, according to the Wall Street Journal. 

Ford denied the claims, which stated that one idea involved Ford using Geely’s vehicle technology domestically. The talks had reportedly cooled, with both sides shifting attention back to Europe, where they are considering sharing production capacity and technical resources.

Geely is motivated to enter the U.S., a lucrative but tightly restricted market for Chinese automakers. High tariffs, bans on Chinese-connected vehicle software, and political resistance from U.S. industry and lawmakers all make entry difficult.

Ford itself has signaled caution, with leadership stressing the importance of protecting American jobs and competitiveness. A company spokesman reinforced that stance, saying, “Our commitment to a level playing field and safeguarding our home market remains absolute.”

The WSJ wrote on Friday that Geely, for its part, has kept its response general, noting, “We always keep an open mind when it comes to exploring cooperative opportunities,” while avoiding specifics about any potential deal.

Earlier discussions went further than simple cooperation, including the possibility of Ford building future models on a Geely-developed platform and leveraging its engineering to speed up EV development. Geely also explored using Ford’s existing manufacturing footprint—particularly in Europe—to bypass trade barriers and scale production more efficiently. While those ideas remain on the table in some form, they highlight how both companies see strategic value in collaboration, even as geopolitical tensions limit how far that cooperation can extend.

Later in the day on Friday after the report, Ford “denied a news report that it has held talks with Geely Automobile Holdings Ltd. about bringing Chinese car technology to the US market”, claiming “no such talks” happened. 

The broader context is intensifying global competition: Chinese automakers are gaining ground internationally with cheaper, tech-focused vehicles, putting pressure on Western companies. Even so, any attempt to formalize a U.S. partnership would face significant political scrutiny, making overseas collaboration a more practical path for now.

There was a lot of confusion in the initial hours after the shooting at the White House Correspondents Association Dinner at the Washington Hilton on Saturday night. But it soon became clear that the suspect, Cole Allen, a 31-year-old teacher from Torrance, California, had rabid anti-Trump views and was there to target Trump administration officials. 

While the usual suspects on the left are issuing standard statements condemning violence, there’s a real concern that the left will lionize Allen. And even former Obama official and current CNN pundit Van Jones is concerned about it.

 “I’m starting to worry about something,” Jones said. “Which is that the shooter survived, which means on Monday he’s going to court, which means there is a danger that people try to make him some sort of hero.“

He wasn’t being paranoid. He was being prescient. And he didn’t stop there.

“You watch what happened with Luigi, who shot a CEO to death, and somehow became a hero,” Jones continued. ” So, they said tonight you saw the worst of America. You saw the best of America. Tonight, you definitely saw the best of America. I hope on Monday we don’t see the worst again. I just want to say very clearly — this kind of despicable behavior has no place in America. It has no place on the right. It has no place on the left.”

He added, “This kind of behavior has no place in America. And it is wrong. Violence is not the way to resolve any grievances. And this cheerleader culture for violence, for people who think that the answer to our problems is to go shooting billionaires or going to synagogues or all these different things, has to be called out immediately. The minute it starts, every single person with the platform must denounce it, or we’re going to see this again.”

CNN Van Jones actually gets things right regarding the WHCD shooter. pic.twitter.com/wySCKHz5hv

— Scott Adams (@scottadamsshow) April 26, 2026

When Luigi Mangione was arrested in December 2024 for the killing of UnitedHealthcare CEO Brian Thompson, the radical left treated him like a celebrity. Within days of the shooting, social media flooded with memes casting Mangione as a modern-day vigilante, a working-class avenger striking back against the healthcare system. 

Online stores moved T-shirts. A fundraiser for his legal defense pulled in thousands. Even the Saturday Night Live audience cheered when Mangione’s name was mentioned during a Weekend Update segment.

Mainstream journalists didn’t exactly pump the brakes either. CNN’s Kaitlan Collins, a White House correspondent no less, casually directed her audience to Mangione’s legal defense website.

Acting Attorney General Todd Blanche said Sunday that “preliminary” findings suggest Trump and members of his administration were the likely targets. Allen had been staying at the hotel as a registered guest. Investigators secured his room and began reviewing what CBS News and others described as his manifesto.

According to the New York Post, Allen’s manifesto ran over a thousand words, laying out a delusional justification for the shooting. In it, he described himself as a “Friendly Federal Assassin,” outlined “rules of engagement,” and claimed it was his moral duty to target officials tied to the Trump administration. 

Democrats moved quickly to condemn the shooting on Saturday. The statements were prompt and broadly worded. But the uncomfortable overlap between the suspect’s stated grievances and the party’s rhetoric about Trump is hard to ignore, making Van Jones’s concerns extremely valid. 

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Authored by Naveen Athrappully via The Epoch Times (emphasis ours),

Department of Housing and Urban Development (HUD) Secretary Scott Turner announced a new proposed rule on Thursday that seeks to end the use of “gender identity” across all departmental programs, which is intended to “restore biological reality and protect women.”

“Under the proposed guidance, HUD would remove radical definitions of gender identity, sexual orientation, and gender, replacing them with sex across nearly 50 regulations,” HUD said in an April 23 statement.

The department’s Equal Access Rule will be modified to replace the ban on discrimination on the basis of “gender identity” across all Community Planning and Development programs.

HUD intends to define common terms such as mother, father, woman, man, girl, and boy, in a way that is consistent with a person’s sex across the department’s regulations.

“God created two sexes: male and female. The Left’s war on biological reality through radical gender ideology will no longer take precedence over the safety and security of America’s most vulnerable women,” Turner said.

The 2012 Equal Access Rule, titled Equal Access to Housing in HUD Programs Regardless of Sexual Orientation or Gender Identity, sought to ensure that HUD’s housing programs would be made available to all individuals and families regardless of their gender identity, sexual orientation, or marital status.

At the time, the rule did not address how transgender identifying and “gender non-conforming” individuals should be accommodated in certain temporary and emergency shelters, and other facilities used for this purpose. In 2016, another final rule was issued on this regulation addressing the matter.

The recent proposal builds on an order issued by the HUD Secretary in February last year that required a stoppage of any pending or future enforcement of the Equal Access Rule.

In a Feb. 13, 2025, statement, Turner said that the department’s actions were in line with an executive order signed by President Donald Trump on his first day in office.

The Jan. 20, 2025, executive order, Defending Women From Gender Ideology Extremism and Restoring Biological Truth to the Federal Government, criticized what it described as denying the biological reality of sex and the increasing use of legal and socially coercive measures to allow men to self-identify as women.

This enabled such men to “gain access to intimate single-sex spaces and activities designed for women, from women’s domestic abuse shelters to women’s workplace showers,” Trump wrote in the order.

“This is wrong. Efforts to eradicate the biological reality of sex fundamentally attack women by depriving them of their dignity, safety, and well-being,” the president wrote.

The order defined the sex of a person as the individual’s biological classification as either male or female, dismissing the interchanging of the word “sex” with “gender identity.” It asked agencies to remove all regulations and policies that “promote or otherwise inculcate gender ideology.”

The National Alliance to End Homelessness has criticized HUD’s move to modify enforcement of the Equal Access Rule.

In a February 2025 post, the alliance said that communities cannot afford to create more barriers to shelter and housing programs at a time when “unsheltered homelessness is soaring and when gender-expansive people are experiencing shocking disparities in unsheltered homelessness.”

“The Alliance strongly opposes the directive from Secretary Turner to halt any pending or future enforcement actions of the Equal Access Rule and any future steps to weaken or repeal this lifesaving rule,” the post said.

In its February 2025 statement, HUD said that the 2016 rule allowed men to take advantage of department programs directed at women.

Late Friday afternoon, as most people were checking out for the weekend after nearly two months of U.S.-Iran war fatigue, Anthropic quietly released a note titled “Project Deal.” The company built a closed marketplace where AI agents negotiated prices, struck deals, and completed real transactions with money changing hands.

“We created a marketplace for employees in our San Francisco office, with one big twist. We tasked Claude with buying, selling and negotiating on our colleagues’ behalf,” Anthropic wrote on X.

New Anthropic research: Project Deal.

We created a marketplace for employees in our San Francisco office, with one big twist. We tasked Claude with buying, selling and negotiating on our colleagues’ behalf. pic.twitter.com/H2f6cLDlAW

— Anthropic (@AnthropicAI) April 24, 2026

The results: Claude agents made 186 deals across more than 500 listed items on a Slack-based marketplace, totaling just over $4,000 in transaction value.

But the quality of the model mattered a lot. In the simulated runs where Opus and Haiku models negotiated with one-another, the Opus models got substantially better deals.

Interestingly, though, participants in our survey didn’t pick up on this disparity. pic.twitter.com/X26hhIieJN

— Anthropic (@AnthropicAI) April 24, 2026

Anthropic’s point is that AI-to-AI commerce offers an early look at the coming agentic economy, where AI bots negotiate with other bots in a marketplace to strike the best deal.

Claude interviewed 69 of our colleagues about what they wanted to buy and sell. Each Claude asked for any custom instructions, then went off to haggle.

We ran 4 markets in parallel, to find out what would happen if we varied the models doing the negotiating. pic.twitter.com/FJdD6S2TSd

— Anthropic (@AnthropicAI) April 24, 2026

AI disruption has already hammered software stocks. Now, as Polymarket Money pointed out, “eBay’s leadership team is seeing this,” referring to Project Deal.

eBay’s leadership team seeing this: pic.twitter.com/Hg0KMdhC5z

— Polymarket Money (@PolymarketMoney) April 24, 2026

Shortly after Project Deal’s release, eBay shares fell about 4.5% by Friday’s close in New York.

Does this mean Anthropic is now coming for eBay?