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MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING

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42,500. That’s how many people died in car accidents in 2022, which experts believe was exacerbated during the Covid-19 pandemic, as reckless driving worsened and traffic enforcement decreased. (KFF)

“These attacks and breaches of data can literally mean the difference between life and death for patients, significantly impact hospital operations, and—with the average hack costing millions to address—increase healthcare prices across the board.”—Sen. Angus King about a bill he co-sponsored to improve cybersecurity in healthcare (Healthcare Dive)

CITE: https://www.r2library.com/Resource

Here’s where the major benchmarks ended:

• The S&P 500^® index (SPX) dropped 39.59 points (–0.7%) to 5,505.00 and ended down 1.97% for the week, its worst weekly performance in three months; the Dow Jones Industrial Average^® ($DJI) slipped 377.49 points (–0.9%) to 40,287.53 on Friday and finished up less than 1% for the week; the NASDAQ Composite^® ($COMP)fell 144.28 points (–0.81%) on Friday to 17,726.94 and lost 3.65% for the week.
• The 10-year Treasury note yield (TNX) rose four basis points to nearly 4.24% and finished up for the week, partly on worries about possible U.S. tariffs and their potential impact on inflation.
• The CBOE Volatility Index closed at 16.47 after climbing above 17 intraday for the first time since late April.

• Markets sagged under the weight of a massive IT outage, accentuating a selloff that was already in motion. All three indexes spent the day in the red, with the S&P 500 capping off its worst week since April and the NASDAQ snapping its six-week win streak.
• The CBOE Volatility Index, a gauge of investor fear, rose to its highest level since April. The VIX is up over 25% in the last five days alone, as the small-cap rotation rally sputtered to a halt.
• Oil took a big blow today as US Secretary of State Anthony Blinken said a cease-fire between Israel and Hamas is nearly complete.
• Gold sold off as well as investors not only took profits after the commodity hit a new all-time high this week, but also began to rotate into riskier assets in light of a likely Fed rate cut.

What’s up

• Intuitive Surgical entered its slay era, serving 9.34% thanks to a strong earnings report.
• Arm Holdings went Super Saiyan, soaring 3.20% after it received an analyst upgrade from Morgan Stanley, as well as a higher price target.
• Schlumberger waxed like the moon, rising 1.97% on an earnings report that missed estimates but showed surprisingly strong international revenue growth.

What’s down

• SunPower transformed into a stock submarine, sinking 55.01% after the company made it clear it’s about to go out of business.
• American Express fell faster than a greased pig on skates, sliding 2.68% after beating bottom line expectations but missing on revenue.
• Plug Power turned into a lead balloon, descending 13.87% after management declared a $200 million stock offering.
• Halliburton crumbled like a cookie, dropping 5.63% following a mixed earnings report that saw the fracking giant fall short of revenue expectations.
• Travelers journeyed to the center of the Earth, burrowing 7.73% after beating earnings expectations, missing on revenue, and revealing that catastrophe losses came in higher than hoped.
• Comerica sank like a stone, plummeting 10.50% due to lower net interest income last quarter and forecasts of lower interest income in the quarters ahead.

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It’s common for patients to delay or skip medical care due to high costs in the US—but data shows that fewer adults have done so in recent years.

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