Author

admin

Browsing

We also break down next week’s catalysts to watch to help you prepare for the week ahead.

In this article:

    This week’s tech sector performance

    The tech-heavy Nasdaq Composite (INDEXNASDAQ:.IXIC) navigated a volatile week.

    Early week caution gave way to a rebound by Monday’s close (March 2), with the Nasdaq eking out a small gain led by defense and tech stocks. On Tuesday (March 3), the Trump administration’s plans to secure the Strait of Hormuz shipping lanes helped pare losses, with major indexes closing down but less severely.

    US services PMI on Wednesday (March 4) showed the fastest expansion since mid-2022, supporting gains; however, the Nasdaq rose only slightly, with gains capped by lingering oil price worries.

    Markets plunged on Thursday (March 5) after an Iranian missile strike on an oil tanker in the Persian Gulf intensified concerns of conflict longevity and supply constraints. The price of oil surged to its biggest weekly gain since 2022, with analysts forecasting further increases if the Strait of Hormuz stays disrupted beyond 3 – 4 weeks.

    Also on Thursday, reports surfaced that the administration was considering new rules requiring US approval for AI chips shipped abroad, which hit Nasdaq heavyweights NVIDIA (NASDAQ:NVDA) and Advanced Micro Devices (NASDAQ:AMD). This revelation followed earlier reports that officials were considering limiting purchases of Nvidia’s H200 chips and AMD’s MI325 chips, which have similar capabilities, to Chinese companies, capping them at 75,000 chips per firm.

    Friday’s (March 6) jobs report for February boosted rate-cut odds but fueled recession fears. The report showed nonfarm payrolls dropped by 92,000, a stark contrast to the forecasted 50,000 to 60,000 added jobs. Additionally, unemployment increased to 4.4 percent, signaling that the labor market is cooling faster than expected.

    These macroeconomic pressures and geopolitical uncertainty exerted a palpable weight on financial markets, heavily impacting volatility-sensitive tech stocks.

    3 tech stocks moving markets this week

    1. Intuit (NASDAQ:INTU)

    Intuit had a strong week, finishing up 25.08 percent as investors rotated into defensive fintech and software amid weakness in the capital-intensive and cyclical semiconductor sector.

    Zacks Investment Research explained Intuit’s stock rise as a gain driven by analyst upgrades and price target hikes. Piper Sandler raised its price target on Intuit to US$780 and maintained an Overweight rating. Susquehanna also raised its target to US$850 and kept a Positive rating. Meanwhile, TD Cowen cut its target to US$633 but reiterated Buy.

    Analysts cited Intuit’s strong AI-driven results from last week’s Q2 earnings and highlighted growth in the company’s GBS Online Ecosystem, Desktop Ecosystem and Credit Karma.

    2. Palantir Technologies (NASDAQ:PLTR)

    Palantir gained alongside other defense stocks as Mideast tensions boosted demand for defense AI. Shares rose more than five percent on Monday, while analysts at Wedbush named it a top pick on Thursday with a US$75 price target. Palantir gained 17.22 percent for the week.

    2. AppLovin (NASDAQ:APP)

    AppLovin ranked third for this week’s gainers, closing 16.29 percent higher on Arete’s upgrade to neutral from sell, with an adjusted price target down to US$340 From US$458. Speculation about AppLovin potentially launching a competing app to rival TikTok may have further contributed to the gains.

    Intuit, Palantir Technologies and AppLoving stock performance, March 2 to 6, 2026.

    Chart via Google Finance.

    Top tech news of the week

              • Shares of Lumentum Holdings and Coherent jumped on Monday after NVIDIA said it would invest US$2 billion in each company to accelerate the development of advanced optics and laser technologies for AI data centers.

                    Tech ETF performance

                    Tech exchange-traded funds (ETFs) track baskets of major tech stocks, meaning their performance helps investors gauge the overall performance of the niches they cover.

                    This week, the iShares Semiconductor ETF (NASDAQ:SOXX) declined by 5.91 percent, while the Invesco PHLX Semiconductor ETF (NASDAQ:SOXQ) lost five percent.

                    The VanEck Semiconductor ETF (NASDAQ:SMH) also decreased by 4.21 percent.

                    Tech news to watch next week

                    Investors face a pivotal week ahead, headlined by Monday’s (March 9) release of the NY Fed’s one-year inflation expectations and the highly anticipated February CPI report on Wednesday (March 11), which could provide a key signal for the Fed’s next move.

                    Later in the week, Thursday’s (March 12) jobless claims will be under the microscope to see if February’s labor trends hold steady. On the corporate side, it’s a big week for software and cloud infrastructure, with Oracle, Hewlett Packard Enterprise, and Constellation Software reporting Monday, followed by Adobe (NASDAQ:ADBE) on Thursday.

                    Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

                    This post appeared first on investingnews.com

                    Brien Lundin, editor of Gold Newsletter and New Orleans Investment Conference host, shares his stock-picking strategy at a time when high metals prices are beginning to lift all boats.

                    In his view, gold and silver equities may still only be in the second inning.

                    Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

                    This post appeared first on investingnews.com

                    Peter Krauth, editor of Silver Stock Investor and Silver Advisor, shares his thoughts on silver price activity and where the white metal is in the cycle.

                    He believes the awareness phase is just beginning, with mania still relatively far in the future.

                    Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

                    This post appeared first on investingnews.com

                    Adrian Day, president of Adrian Day Asset Management, shares his latest thoughts on what’s moving the gold price, emphasizing that its bull run isn’t over yet.

                    ‘It’s monetary factors that are driving gold — that’s what’s fundamentally driving gold,’ he said. ‘Monetary factors, lack of trust in governments and particularly lack of trust in fiat currencies.’

                    Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

                    This post appeared first on investingnews.com

                    The Government of New Brunswick announced a new comprehensive mineral strategy on Tuesday (March 3), at the 2026 Prospectors and Developers Association of Canada conference in Toronto.

                    The plan calls for a streamlined permitting process that will ensure clear communication and transparent timelines. Additionally, it promises a collaborative partnership with First Nations, science-based decision-making and a community-based approach to jobs, procurement and infrastructure.

                    Oil prices jumped significantly this week following the start of the US-led war against Iran. West Texas Intermediate has surged more than 25 percent since March first, climbing to over US$90 per barrel in trading on Friday, the first time since October 2022.

                    The most significant gains came on Friday, after Iran effectively stopped traffic through the Strait of Hormuz. More than 20 percent of the world’s liquefied natural gas and 25 percent of oil shipments travel through the strait.

                    The price rise has had a downstream effect on gas prices in Canada and the US, increasing by up to C$0.10 per liter and US$0.27 per gallon, respectively.

                    Over the past week, US producers have activated four additional rigs, bringing the total rig count to 411, although that total is down by 75 from the same period last year. Most companies are unlikely to rush to restart operations shuttered due to low oil prices until there is a more sustainable rise in oil prices.

                    Meanwhile, the war caused turmoil in bond markets as concerns over inflation and rising central bank interest rates seeped into the market. US two-year bonds rose by 18 basis points, while Britain’s rose by 43 basis points.

                    For more on what’s moving markets this week, check out our top market news round-up.

                    Markets and commodities react

                    Canadian equity markets were largely down this week.

                    The S&P/TSX Composite Index (INDEXTSI:OSPTX) fell 3.87 percent over the week to close Friday (March 6) at 33,083.72, while the S&P/TSX Venture Composite Index (INDEXTSI:JX) slipped 4.54 percent to 1,057.04.

                    However, the CSE Composite Index (CSE:CSECOMP) gained 1.27 percent to 178.51.

                    The gold price fell 3.31 percent to close at US$5,170.63 per ounce on Friday at 4:00 p.m. EST. The silver price fared worse, closing the week down 6.4 percent at US$84.30 on Friday.

                    In base metals, the Comex copper price recorded a 2.01 percent decrease this week to US$5.85 per pound.

                    The S&P Goldman Sachs Commodities Index (INDEXSP:SPGSCI) was up 16.14 percent to end Friday at 700.62.

                    Top Canadian mining stocks this week

                    How did mining stocks perform against this backdrop? Take a look at this week’s five best-performing Canadian mining stocks below.

                    Stocks data for this article was retrieved at 4:00 p.m. EST on Friday using TradingView’s stock screener. Only companies trading on the TSX, TSXV and CSE with market caps greater than C$10 million are included. Mineral companies within the non-energy minerals, energy minerals, process industry and producer manufacturing sectors were considered.

                    1. Adex Mining (TSXV:ADE)

                    Weekly gain: 100 percent
                    Market cap: C$128.67 million
                    Share price: C$0.19

                    Adex Mining is an exploration company that holds a 100 percent stake in the Mount Pleasant project in Southwest New Brunswick, Canada. The property contains two main deposits: the Fire Tower zone, which hosts tungsten and molybdenum mineralization, and the North zone, which hosts tin, zinc and indium.

                    The asset consists of 102 mineral claims covering 1,600 hectares, as well as equipment and facilities from historic mining operations conducted by BHP (ASX:BHP,NYSE:BHP,LSE:BHP) between 1983 and 1985.

                    According to its most recent investor presentation released on June 11, the property hosts the world’s largest indium reserve and North America’s largest tin deposit. Indicated resources for the North zone demonstrate contained metal values of 47 million kilograms of tin, and 789,000 kilograms of indium from 12.4 million metric tons with average grades of 0.38 percent tin and 64 parts per million indium.

                    Adex Mining has not released news since it published its interim management discussion and analysis on November 18.

                    In a mid-February interview, New Brunswick Natural Resources Minister John Herron revealed that a deal “is due imminently with a well-known company in the Canadian mining community” for Adex’s Mount Pleasant project.

                    While the company did not release news this week, the project may benefit from the freshly announced New Brunswick Comprehensive Mineral Strategy. The report highlights Mount Pleasant’s indium, tin and tungsten mineralization.

                    2. Southern Energy (TSXV:SOU)

                    Weekly gain: 91.67 percent
                    Market cap: C$29.3 million
                    Share price: C$0.115

                    Southern Energy is an oil and gas company with assets located in Mississippi, US. The majority of its production is natural gas.

                    Its operations are centered around the state’s Interior Salt Basin, in the northeastern Gulf Coast Region. Southern has an interest in producing wells spread across several assets, including Gwinville, Mechanicsburg and Mount Olive East.

                    According to a February 2026 corporate presentation, current production from the company’s wells is about 11 million cubic feet of natural gas equivalent per day, with 27.9 million barrels of oil equivalent in reserves.

                    The company’s most recent news came on February 12, when Southern closed a non-brokered private placement that generated proceeds of US$23.5 million. The company said the funds will be used to repay the balance of a US$12.9 million senior credit facility, with the rest being directed to development capital, including the completion of two wells in Gwinville.

                    The share price gains also come amid volatility in the energy market.

                    3. Africa Energy (TSXV:AFE)

                    Weekly gain: 86.67 percent
                    Market cap: C$165.31 million
                    Share price: C$0.42

                    Africa Energy is a South Africa focused oil and gas exploration and development company.

                    Its flagship asset is Block 11B/12B located approximately 175 kilometers off the south coast of South Africa. The block covers an area of 18,734 square kilometers and depths between 200 meters and 1,800 meters.

                    It holds a 4.9 percent interest in the asset through its investment in Main Street 1549, a 49/51 joint venture with Arostyle Investments. The three other partners in the asset announced plans to withdraw from the Block 11B/12B joint venture in July 2024, and announced a definitive agreement for the new ownership structure of the Block 11B/12B asset in May 2025.

                    The restructuring would result in Africa Energy owning a direct 75 percent stake in the block, with Arostyle holding the remainder. This is contingent on the asset being granted the production rights, which itself requires approval of its environmental and social impact assessment. The report must be submitted by May 2026.

                    Shares of Africa Energy posted gains this week amid energy market volatility.

                    The company has not released any news since January 26, when it announced the resignation of Dr. Phindile Masangane as Director and Head of Strategy and Business Development. She will still assist Africa Energy as a consultant.

                    4. Gabriel Resources (TSXV:GBU)

                    Weekly gain: 60 percent
                    Market cap: C$41.58 million
                    Share price: C$0.16

                    Gabriel Resources is a precious metals explorer and developer focused on advancing its Rosia Montana gold project. Based in Transylvania, Romania, Rosia Montana is in a region that has seen significant historic mining. Covering 2,388 hectares, the site is host to a mid-to-shallow epithermal system containing deposits of gold and silver.

                    The most recent resource estimate from a 2012 technical report shows proven and probable quantities of 10.1 million ounces of gold and 47.6 million ounces of silver. Gabriel has invested more than US$760 million into Rosia Montana, but has undertaken little development at the site since the early 2010s, as Romania blocked further development.

                    In 2015, the company entered into arbitration through the World Bank’s International Center for Settlement of Investment Disputes (ICSID) over permitting at the site and suggested that Romania was in violation of bilateral investment treaties. In March 2024, Gabriel issued a press release with an update saying that its case against Romania had been dismissed by the ICSID, which also awarded Romania US$10 million in legal fees and expenses. Gabriel said it would review the decision with its legal team and evaluate its options.

                    In March 2025, Gabriel announced that the committee had ruled that a stay of enforcement of the Award would continue if Gabriel guaranteed the proven solvency of the US$10 million.

                    The committee was scheduled to hold hearings on January 22 and 23 of this year, but on January 19, Gabriel reported that the hearings would be postponed to a later date. A new date for the hearing has not been announced.

                    The company did not release news in the past week.

                    5. Rio Silver (TSXV:RYO)

                    Weekly gain: 48.05 percent
                    Market cap: C$41.58 million
                    Share price: C$1.14

                    Rio Silver is an exploration company advancing its Maria Norte project in Peru. The property changed hands several times in the 18 years prior to Rio Silver’s acquisition in March 2025, but saw little exploration during that time.

                    However, in a February 5 release, the company noted that historic mining occurred as the site hosts a reclaimed waste dump. In that announcement, the firm said it plans to advance surface mapping and sampling in the third quarter of 2026.

                    Throughout January, Rio Silver made several announcements regarding its exploration and development timeline. On January 6, the company reported results from technical work at the site, confirming the presence of silver mineralization with grades up to 991 g/t in a 0.7 meter channel sample.

                    To end the month, the company said it was launching a metallurgical program at the site to assist in determining the project’s potential value.

                    The most recent news came last week in a pair of releases.

                    The first on February 25, the company announced a new private placement to raise proceeds of up to C$3 million. Funds will be used to advance work at the Maria Norte project. The placement is being led by Sprott (TSX:SII,NYSE:SII) Founder Eric Sprott.

                    The second release came on February 26 when Rio reported it secured permission from the local community to begin site activities at Maria Norte. The company said it will continue working with the community to develop a formal definitive agreement for long-term exploration and mining activities.

                    FAQs for Canadian mining stocks

                    What is the difference between the TSX and TSXV?

                    The TSX, or Toronto Stock Exchange, is used by senior companies with larger market caps, and the TSXV, or TSX Venture Exchange, is used by smaller-cap companies. Companies listed on the TSXV can graduate to the senior exchange.

                    How many mining companies are listed on the TSX and TSXV?

                    As of December 2025, 898 mining companies and 71 oil and gas companies are listed on the TSXV, combining for more than 60 percent of the 1,531 total companies listed on the exchange.

                    As for the TSX, it is home to 175 mining companies and 51 oil and gas companies. The exchange has 2,089 companies listed on it in total.

                    Together, the TSX and TSXV host around 40 percent of the world’s public mining companies.

                    How much does it cost to list on the TSXV?

                    There are a variety of different fees that companies must pay to list on the TSXV, and according to the exchange, they can vary based on the transaction’s nature and complexity. The listing fee alone will most likely cost between C$10,000 to C$70,000. Accounting and auditing fees could rack up between C$25,000 and C$100,000, while legal fees are expected to be over C$75,000 and an underwriters’ commission may hit up to 12 percent.

                    The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance.

                    These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports.

                    How do you trade on the TSXV?

                    Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange’s trading hours.

                    Article by Dean Belder; FAQs by Lauren Kelly.

                    Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.

                    Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.

                    This post appeared first on investingnews.com

                    The Israeli military spokesman confirmed to Fox News Digital this week that multiple unmanned aerial vehicles, UAVs, have been launched into Israel from Iraqi territory since the start of the conflict with Iran to eradicate the Islamic Republic of Iran’s illicit nuclear weapons facilities, missile systems and terrorism infrastructure. 

                    Lt. Col. Nadav Shoshani, the Israeli military spokesman, said that the army has had a ‘near complete success’ rate in stopping Iranian drones from hitting Israeli targets. 

                    The drones fired from Iraq are presumed to come from the Iranian regime-controlled Popular Mobilization Forces, or PMF. An umbrella organization of Shiite terrorists, that attacked Israel with drones in 2024 during Israel’s war against the Tehran-backed Hamas movement. 

                    An Iraqi Kurdish official told Fox News Digital, ‘Iraq has become a vessel for the Iranians. Is it so hard to see? I don’t see a distinction between the PMF and the state. They’re paid by the state, hold sovereign portfolios in this cabinet, go on foreign travel and now they’ve entered the federal legislature.’

                    The official continued: ‘In the last two decades, Iran has systemically taken over the state, weaponizing what were supposed to be institutions into tools to protect the Shia regime in Baghdad and punish any threat to it, including the Kurdistan Regional Government (KRG). Through Baghdad and state institutions, it has economically strangled the Kurdistan Region, torn strips from our autonomy and exposed us to more attacks.’

                    An attack was reported on the country’s shrinking Christian community. The Chaldean Archbishop Bashar Warda of Erbil, Iraq, from the capital city of Iraqi Kurdistan, wrote on X on Thursday: ‘A miracle no one was injured when 2 drones struck our community, 150 meters from our Catechist Center that serves 1,000 Catholic children. Our university & schools are also closed so the young can be with their parents. Please pray for us & for all who suffer in this war.’ 

                    Kurdistan Regional Government authorities confirmed the attack and ​said it was carried out by two ​drones.

                    Phillip Smyth, an expert on Shiite militias in Iraq, told Fox News Digital about the strikes on the Chaldean Catholic school that ‘Kata’ib Hezbollah was first to talk about it and it was likely Kata’ib Hezbollah, but it is possible it was another two pro-Iran militias because they all work together on drone launches.’

                    A drone attack struck an oil field operated by U.S. firm HKN Energy in Iraq’s ​Kurdistan region on Thursday, causing a fire ‌and halting production, according to a Reuters report citing security sources and an oilfield engineer.

                    No group claimed responsibility, but Kurdish officials accused Iran-allied Iraqi militias of carrying out the attack.

                    If so, the attack would mean Iran‑aligned ​Iraqi militias, who have vowed to retaliate for the killing ‌of ⁠Iran’s supreme leader, have expanded targets from U.S. military bases in Iraqi Kurdistan to U.S. energy interests.

                    Production at the field was halted as a precaution ​after an ​explosion at ⁠its power unit, the engineer told Reuters.

                    Some ⁠energy companies operating in Iraqi Kurdistan shut oil and gas production at their fields as a precaution ⁠after ​the U.S. and Israel ​launched strikes on neighboring Iran.

                    Entifadh Qanbar, a former spokesman for the deputy prime minister of Iraq, echoed the comments of the Iraqi Kurdish official in his statement to Fox News Digital: ‘The Popular Mobilization Forces (PMF) are fully funded by the Iraqi government. In fact, they are formally included as a line item in Iraq’s federal budget. Officially, more than $3 billion is allocated annually just for salaries, but when logistics, weapons, food, and other operational costs are included, the PMF’s budget likely exceeds $10 billion. That is the size of the budget of a small country in the Middle East,’ he claimed.

                    Qanbar said there is a way to change Iraq’s behavior: ‘If the United States wants to stop this situation, there are clear tools available. Sanctions must be imposed on the Iraqi government for funding these militias. Another powerful mechanism involves Iraq’s oil revenues, which are deposited at the U.S. Federal Reserve. The United States could suspend transfers of those funds unless Baghdad halts the financing of the PMF. Make no mistake: every terrorist who launches drones or rockets against Kurdistan, U.S. interests, Gulf states or military bases is effectively being paid by the Iraqi government,’ he claimed.

                    When asked if the Islamic Republic of Iran urged Shiite militias from the PMF to fire drones at Israel, a spokesman for Iran’s U.N. mission said, ‘The Mission declined to comment.’

                    On Tuesday, Iraqi Prime Minister Mohammed Shia al-Sudani said his government is ‘not tolerating any attempt aimed at dragging Iraq into war or threatening the country’s stability,’ according to Kurdistan24. 

                    Salwan Sinjari, chief of staff to the Iraqi foreign minister, referred Fox News Digital to the Iraqi foreign ministry page for official statements by his minister and the government. He did not respond to follow-up messages and calls on whether Iraq’s government was failing to crack down on the PMF.

                    Iraqi Foreign Minister Fuad Hussein claimed the government was seeking to convince Iran-backed militias to disarm in January 2025, according to the Long War Journal.

                    However, Iraq’s government has issued mixed messages about the PMF over the years. In May 2025 al-Sudani was quoted as saying, ‘Today, the Popular Mobilization Forces constitute a basic force in defending Iraq.’

                    Iraq’s ambassador to the U.S. did not immediately respond to email, WhatsApp and telephone queries. A second Iraqi diplomat said he was unable to provide Fox News Digital a comment.

                    The Times of Israel reported on Thursday, after military strikes eliminated a senior officer from Kataeb Hezbollah — Iraq’s largest pro-Iran militia — south of Baghdad that PMF militias pledged to strike the Middle East interests of European nations that joined in the ‘Zionist-American’ strikes on the Islamic Republic and its proxies.

                    Fox News Digital reached out to the U.S. State Department.

                    Related Article

                    Trump threatens to end Iraq support over al-Maliki comeback bid tied to Iran influence
                    This post appeared first on FOX NEWS

                    President Donald Trump is meeting Friday with top U.S. defense industry executives as his administration looks to accelerate weapons production while military operations against Iran continue.

                    The White House emphasized the session was scheduled weeks ago and was not convened in response to immediate battlefield shortages. Officials described the meeting as part of a broader effort to strengthen the U.S. defense industrial base and speed production of American-made weapons.

                    ‘The US military has more than enough munitions, ammo, and weapons stockpiles to continue demolishing the Iranian regime and finish Operation Epic Fury, no matter how long it lasts,’ White House press secretary Karoline Leavitt said in a statement to Fox News.

                    ‘Nevertheless, President Trump has always been intensely focused on strengthening our military, which is why this meeting with defense contractors was scheduled weeks ago. The President will continue to call on these US companies to more speedily build American-made weapons, which are the absolute best in the world.’

                    Companies attending are Lockheed Martin, Northrop Grumman, RTX Corporation, Boeing, Honeywell and L3Harris Technologies. 

                    The meeting comes as U.S. forces remain engaged in Operation Epic Fury, a campaign targeting Iranian military assets following coordinated U.S.-Israeli strikes. Administration officials have maintained that U.S. readiness remains strong, even as the pace of missile defense operations has drawn scrutiny on Capitol Hill.

                    During the 2025 12-day Iran conflict, U.S. forces fired more than 150 Terminal High Altitude Area Defense (THAAD) interceptors — roughly a quarter of the global inventory — to shield Israel and U.S. assets from Iranian missile attacks, according to defense assessments. Patriot PAC-3 MSE missiles are currently produced at a rate of roughly 600 to 650 annually, with replenishment timelines measured in months or years rather than weeks.

                    U.S. and Israeli officials previously estimated that Iran had a large ballistic missile arsenal — roughly 2,000 to 3,000 missiles of various types at the outset of the conflict. Central Command chief Adm. Brad Cooper said Thursday Iran’s missile attacks have decreased 90% since the start of the conflict.

                    Defense planners have described missile defense inventories as part of a broader strategic balancing act. The same high-end systems used to protect U.S. bases and partners in the Middle East are also supplied to Ukraine and positioned in the Indo-Pacific, creating what some analysts characterize as a ‘zero-sum’ competition for inventory across theaters.

                    Lawmakers emerging from recent classified briefings have raised questions about sustainability if operations expand. 

                    Sen. Mark Kelly, D-Ariz., warned the campaign could become a ‘math problem,’ balancing incoming missile volumes against finite interceptor supplies and production capacity. 

                    Other members, including Republicans briefed on the operation, have said officials assured Congress U.S. forces remain in strong shape.

                    Current and former defense officials have drawn a distinction between offensive strike weapons — which can often be surged from prepositioned stocks — and defensive interceptors such as Patriot and THAAD systems, which require longer production timelines and cannot be rapidly manufactured at scale.

                    Related Article

                    Operation Epic Fury destroys Iran’s navy and cuts missile attacks by 90% in ongoing campaign
                    This post appeared first on FOX NEWS

                    President Donald Trump took Washington by surprise Thursday with his decision to remove Department of Homeland Security Secretary Kristi Noem, but few lawmakers on Capitol Hill questioned his decision. 

                    Though Republicans rarely criticized Noem during her tenure, many GOP lawmakers argued Thursday that the secretary’s ouster was the right move. Trump quickly nominated Sen. Markwayne Mullin, R-Okla., a close ally, to head the sprawling agency Thursday afternoon.

                    ‘I think the president is doing what’s necessary to make sure the department is going to be operating effectively,’ Rep. Byron Donalds, R-Fla., who welcomed the news of Mullin’s appointment, said Thursday. ‘It was time.’

                    Mullin, a 48-year-old lawmaker, is a member of Senate Republicans’ leadership team and previously served several terms in the House of Representatives.

                    Noem’s time helming DHS was rocked by a series of controversies involving an expensive ad campaign she claimed had Trump’s approval and her widely-panned response to the fatal shootings of two Americans in Minneapolis by federal immigration officers earlier this year.

                    ‘Obviously, it did not go well,’ Donalds added when asked about Noem’s appearance during two hearings on Capitol Hill this week.

                    Several GOP lawmakers, including Sens. Thom Tillis, R-N.C., and John Kennedy, R-La., tore into Noem during her appearance before the Senate’s judiciary panel on Tuesday. 

                    Rep. Don Bacon, R-Neb., a moderate lawmaker retiring at the end of his term, echoed Kennedy’s criticism questioning Noem’s prominent role in the costly ad campaign and her ties to recipients awarded contracts.

                    ‘There’s legit concerns. When there was a $200 million advertising [campaign], we should be better stewards of our money,’ Bacon said. ‘I think the president probably saw a need for change.’

                    DHS has fired back that the massive ad campaign resulted in millions of self-deportations.

                    Rep. Mike Lawler, R-N.Y., told Fox News Digital Thursday that Noem’s departure would eliminate ‘distractions’ and ‘conflicts’ that erupted at DHS under her leadership.

                    ‘The department needs to be entirely focused on its mission, given the situation in the Middle East right now,’ Lawler said, referring to Operation Epic Fury in Iran. 

                    Rep. Dan Newhouse, R-Wash., who is not running for reelection, wrote on social media Thursday that a ‘change in leadership at the Department of Homeland Security was long overdue.’

                    House Democrats, many of whom fiercely criticized Noem’s role in the Trump administration, appeared to agree.

                    ‘She’s done enough damage that the president finally came to his senses,’ Rep. Bennie Thompson, D-Miss., the lead Democrat on the House homeland security panel, said Thursday. 

                    ‘I think it’s the right decision by the president. It’s been a long time coming,’ Rep. Jared Moskowitz, D-Fla., told Fox News Digital.

                    Moskowitz, who tussled with Noem during her testimony to the House Judiciary Committee on Wednesday, argued that she would go down as the worst DHS secretary in the agency’s two-decade history. He declined, however, to sign on to articles of impeachment circulated by House Democrats.

                    When asked about Mullin’s appointment, Moskowitz said he wished him good luck. ‘She’s left him a disaster, but obviously I want him to succeed,’ the Florida Democrat said of Noem’s tenure. ‘We should all want that, so let’s give him that opportunity.’

                    Related Article

                    Schumer weaponizes Mullin nomination to demand DHS overhaul, says ‘rot’ goes beyond Noem
                    This post appeared first on FOX NEWS

                    An Iranian ship offloaded more than 200 members of its crew to Sri Lanka on Friday after suffering an engine failure at sea, just days after a U.S. submarine sank an Iranian warship in an Indian Ocean torpedo attack. 

                    The IRIS Bushehr, described in previous Iranian media reports as a navy logistics ship, is being brought first to the port of Colombo, according to Sri Lanka navy spokesman Cmdr. Buddhika Sampath. Sailors are being taken to a naval base in Welisara following medical exams and immigration procedures. 

                    ‘We have to understand that this is not an ordinary situation,’ Sri Lankan President Anura Kumara Dissanayake said Thursday. ‘It’s a request by a ship belonging to one party to enter into our port. We have to consider that according to the international treaties and conventions.’ 

                    Dissanayake added that authorities decided to take control of the IRIS Bushehr following discussions with Iranian officials and the ship’s captain, after one of its engines failed. He said some crew members would remain on board to help the Sri Lankan navy later navigate the vessel to Trincomalee on the island’s northeast coast, about 165 miles from Colombo.

                    The moves come after the U.S. sank the Iranian warship IRIS Dena off Sri Lanka’s coast on Wednesday.  

                    Secretary of War Pete Hegseth said it was ‘the first sinking of an enemy ship by a torpedo since World War II.’ 

                    The Indian navy said Thursday that it had initiated search and rescue operations after receiving a distress signal from the Dena, deploying two aircraft along with a sailing training vessel. By the time the response was launched, the Sri Lankan navy had already started its own rescue efforts, it said.

                    The Sri Lankan navy rescued 32 sailors and recovered 87 bodies after the attack, according to The Associated Press. 

                    Iranian Foreign Minister Abbas Araqchi said Thursday that the U.S. will ‘bitterly regret’ striking and sinking that ship. 

                    ‘The U.S. has perpetrated an atrocity at sea, 2,000 miles away from Iran’s shores,’ Araqchi wrote on X. ‘Frigate Dena, a guest of India’s Navy carrying almost 130 sailors, was struck in international waters without warning.’

                    ‘Mark my words: The U.S. will come to bitterly regret precedent it has set,’ he added. 

                    Joint Chiefs of Staff Gen. Dan Caine told reporters at the Pentagon on Wednesday that the Iranian vessel was ‘effectively neutralized’ in a Navy ‘fast attack’ using a single Mark 48 torpedo.

                    He added that the U.S. Navy achieved ‘immediate effect, sending the warship to the bottom of the sea.’ 

                    Fox News’ Stephen Sorace, Landon Mion and The Associated Press contributed to this report. 

                    Related Article

                    New satellite images show fires, naval base damage across Iran after US-Israeli strikes
                    This post appeared first on FOX NEWS

                    President Donald Trump’s move to fire Homeland Security Secretary Kristi Noem and tap Sen. Markwayne Mullin, R-Okla., as her replacement triggered a domino effect in Congress.

                    Before Mullin can take the helm of the Department of Homeland Security (DHS), he has to be confirmed. And once confirmed, someone will have to take his seat. Both caveats come with their own hurdles.

                    Senate Democrats may try to toss a wrench into the confirmation process and extract promises for reforms to the agency, particularly Immigration and Customs Enforcement (ICE). DHS has been closed for three weeks, and the shutdown will likely continue for at least a month.

                    Senate Minority Leader Chuck Schumer, D-N.Y., has vowed to oppose Mullin and argued that changes need to be made regardless of who runs the agency.

                    ‘It’s a question of policy, not personnel,’ Schumer said. ‘The Senate should not consider any DHS secretary nominee until DHS and ICE are reined in.’

                    Mullin has staunchly opposed Democrats’ demands to reopen the agency and whether he’ll budge to get their votes remains to be seen.

                    But he’s open to speaking with Schumer and his caucus and wants to earn their votes. Whether he can do that before Trump’s March 31 deadline is up in the air.

                    ‘The Department of Homeland Security is to keep everybody — regardless of whether you support me, if you don’t support me, regardless of what your thoughts are — I’m here to enforce the policies that Congress passed,’ Mullin said.

                    Then there’s the race for succession. Mullin, who is currently near the end of his first term in the upper chamber, was in the midst of running for re-election. With his appointment by Trump, that seat is now wide open for Republicans hungry to reach the Senate.

                    Oklahoma Gov. Kevin Stitt, a Republican, will choose who fills Mullin’s Senate seat in the short term. But it’ll be up to voters in the Sooner State to pick their next senator.

                    ‘I will be looking to appoint a strong, small-government conservative voice to support President Trump and protect Oklahomans’ way of life,’ Stitt said on X.

                    And GOP hopefuls have already begun crowding the potential primary race for his seat within hours of Trump’s announcement.

                    Reps. Stephanie Bice, R-Okla., and Kevin Hern, R-Okla., are already showing interest, Fox News Digital was told.

                    A source close to Bice told Fox News Digital that she was considering running for the likely open Senate seat first, which Bice followed with her own public statement on Thursday evening.

                    ‘President Trump has made an excellent choice. Markwayne is a great friend and a fierce advocate for the America First Agenda. I’m excited for him to take the helm at DHS,’ she posted on X. ‘It’s the honor of a lifetime to stand side by side with President Trump for the people of Oklahoma. I’ve received encouragement from every corner of this great state to run for the U.S. Senate. And it’s something I’m carefully considering.’

                    Meanwhile, Fox News Digital was told that Hern — who currently serves in House leadership in the role of GOP Policy Committee chairman — already began calling players within the Republican orbit to get their support.

                    Multiple people familiar with Hern’s thinking told Fox News Digital that he intends to run.

                    Hern is also generating buzz among Senate Republicans. Sens. Jim Banks, R-Ind., Bill Hagerty, R-Tenn., and Ron Johnson, R-Wis., have all come out in support of him.

                    Neither Hern nor Bice is interested in being appointed by Stitt, however, likely due to Oklahoma’s unusual laws dictating how Senate vacancies must be filled.

                    A mid-term vacancy is traditionally filled by the state’s governor, after which an election occurs at the next pre-scheduled race date. The governor’s appointee must sign an affidavit swearing they will not run in that election.

                    In this case, Mullin was up for re-election in November, so anyone seeking the office will have to run in a June primary and then be up for a full six-year term at the end of this year.

                    But that also means that Bice and Hern will both be able to run for Mullin’s current seat without risking the House GOP’s own razor-thin majority.

                    Related Article

                    Schumer weaponizes Mullin nomination to demand DHS overhaul, says ‘rot’ goes beyond Noem
                    This post appeared first on FOX NEWS