DAILY UPDATE: Memorial Day as Stocks Recover

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Here’s where the major stock market benchmarks ended:

  • The S&P 500 index added 36.9 points (0.7%) to 5,304.72, basically flat on the week; the Dow Jones Industrial Average gained 4.3 points (0.0%) to 39,069.59, down 2.3% for the week; the NASDAQ Composite® ($COMP) rallied 184.8 points (1.1%) to 16,920.79, up 1.4% for the week.
  • The 10-year Treasury note yield (TNX) was little changed at 4.46%, up about four basis points for the week.
  • The CBOE Volatility Index® (VIX) fell 0.86 to 11.91 and finished a roller-coaster week roughly where it started.

Some of the mega cap names saw notable strength Friday. Nvidia added another 2.6% to Thursday’s 9.3% post-earnings rally. Apple (AAPL) gained 1.7%, Meta Platforms (META) added 2.7%, and Tesla (TSLA) rose 3.2%

The small cap Russell 2000® Index (RUT) also outperformed, gaining nearly 1% Friday. However, for the week, the index lost 1.3%.

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Craig Venter Unveils Synthetic Life

Some Positive News on Memorial Weekend 2024

By Dr. David Edward Marcinko; MBA, MEd, CMP™

Was Artificial Life Created A Decade Ago?

According to Craig Venter “synthetic life” was created. Venter is the American biologist and entrepreneur most famous for his role in being one of the first to sequence the human genome. He has now reportedly synthesized the first artificial cell.

I don’t know about you, but this is huge news – regardless of whether you call it “life” or not.

An Arm Chair Philosopher

Now, I am not speaking as a doctor or scientist; but rather as an armchair economist and philosopher recalling my undergraduate days at Loyola University Maryland, under the tutelage of the late Aldo Tassi PhD. So, I repeat, this was huge news and an interesting piece of science. It is historic, and has large implications for the future and even the economy. Why?

The Invisible Hand

Much of our time here at the ME-P is spent integrating the hard and soft sciences of practice management, economics and financial planning for a medical audience. But occasionally, negative situations, political cycles and pessimistic opinions on our topic channels are expressed. These disparaging political remarks even indirectly target the USA and our very survival as a free nation and self-governing people.

IOW: Contrary to innovations, and innovators, like Craig Venter.

Nevertheless, there an “invisible hand” – call it economics or capitalism – that keeps us moving in the direction of survival. And, we are conscious beings capable of controlling the rate of that progression in all fields of human endeavor.

What it Is

A chromosome was designed in digital code on a computer and then transplanted into a bacterial cell, transforming that cell into a new bacterial species. Apart from the usual blueprint for proteins, the DNA also carried the names of the key contributors and even its own email address.

How it Works

As reported according to Venter, “This is the first self-replicating species on the planet, whose parent is a computer.”

And, he has already mentioned some potential practical applications for his discovery: a vaccine for HIV and a new strain of algae that can significantly decrease CO2-levels and provide a source for gasoline.

Assessment

And so, on this Memorial Weekend – a day for remembering death and sacrifice – let us celebrate life and achievement instead by stating that we are not apologists for the USA.

As the last best hope for this planet, we are not always right or politically correct, but this country offers the greatest opportunity on earth for human advancement, capitalism and success through conscientious work effort.

We do not believe America has seen better days. Those who fought did not die in vain. Better days are still in our future. We are optimistic about the long-term future of our country when looking at our progression to ameliorate the planet’s ills, to-date. We have come out of hard times before – like the current recession – by taking innovative steps forwards, not backwards. While we are likely to go through a period of adjustment in the near-term, the end result will be further individual, national and private progress in the USA. God Bless America.

Rest assured, we will continue to lead and create the world, much like Crag Venter created artificial life. Candor – Intelligence – Goodwill to all

Conclusion

And so, your thoughts and comments on this ME-P are appreciated. What do you think of this development? What economic discoveries, medical cures, life enhancing inventions and/or break-thru innovations will this creation open up?

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Conclusion

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PODCAST: Health Insurance Denials Contradict DEI, ESG and Fairness Initiatives

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PODCAST: How to Select a Physician?

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