2024: FOMC Interest Rate Cuts?

Posted on December 14, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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The Dow hit an all-time high yesterday after the Federal Reserve hinted at plans to make multiple rate cuts next year. Not having such a good day was Pfizer, which touched a 10-year low after releasing disappointing projections for 2024 because people just aren’t buying Covid products like they used to.

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Fed rate cuts may come in threes next year

The Federal Reserve had investors popping bottles yesterday, not just because it made the expected move of holding interest rates steady for now but also for signaling that there may be multiple interest rate cuts in 2024. Most Fed officials penciled in three quarter-percentage-point cuts in their projections. Fed Chair Jerome Powell said inflation had “eased” but still did his best to keep everyone from getting too excited, saying, “No one is declaring victory. That would be premature.” Even so, markets started pricing in even more aggressive cuts than the projections.

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DAILY UPDATE: DJIA Records a High as Treasury Yields Drop

Posted on December 14, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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SPONSOR: http://www.MarcinkoAssociates.com

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MANY THANKS E.R. HEROES

The holidays can be a stressful time for many, especially emergency healthcare workers, as Emergency Departments and ERs tend to get crowded. Holiday-related injuries spike in December, from slipping in the snow or falling while decorating to overindulging in holiday cocktails. So, to all the emergency healthcare providers working on holidays this year, the ME-P thanks you very much.

Here’s where the major benchmarks ended:

  • The S&P 500 index was up 63.39 points (1.4%) at 4,707.09; the Dow Jones Industrial Average was up 512.30 points (1.4%) at 37,090.24; the NASDAQ Composite was up 200.57 points (1.4%) at 14,733.96.
  • The 10-year Treasury note yield (TNX) was down about 18 basis points at 4.024%.
  • The CBOE® Volatility Index (VIX) was up 0.14 at 12.21.

Financial shares led Wednesday’s gainers, reflecting ideas that lower interest rates will boost profit margins for banks. The KBW Regional Banking Index (KRX) surged nearly 6% and ended at its highest level in over four months. The Fed’s outlook for slower growth in 2024, but no recession, also appeared to drive optimism among smaller companies, which are considered to have greater exposure to economic downturns. The small-cap Russell 2000® Index (RUT) outpaced its bigger counterparts, gaining 3.5% and ending at a four-month high.

Treasury yields fell sharply, with the 10-year note dropping to a four-month low just above 4%.

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PODCAST: Health Insurance is Sold; NOT Bought

Posted on December 14, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

BUILD A HEALTHCARE SALES MACHINE

By Eric Bricker MD

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