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NVIDIA: Almost All About the Company?

Posted on February 23, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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You can’t stop Nvidia and AI? The tech stock continued its post-earnings explosion yesterday, skyrocketing 16% and taking the entire stock market along with it. All three major indexes increased, with the S&P 500 notching another record high, as investors rode the surging waves.

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Nvidia’s Q4 and full-year 2023 earnings smashed records, all but ensuring AI hype will continue for the foreseeable future. The chipmaker reported Q4 revenue of $22.1 billion, up 265% from Q4 2022, and a diluted EPS of $4.93, up 33% from last quarter and a whopping 765% from this time last year. (And, no, Lyft, those aren’t typos.)

“Accelerated computing and generative AI have hit the tipping point,” Nvidia’s founder and CEO Jensen Huang crowed in a press release. “Demand is surging worldwide across companies, industries, and nations.”

Nvidia’s made itself inescapable merely by virtue of being so big. Last week, it became the nation’s third-largest company, reaching a market cap of $1.83 trillion. It’s driven about a third of the NASDAQ 100’s gains this past year, according to Fast Company. That being the case, Nvidia’s performance can serve as a litmus test for the stock market itself.

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BOI: The Corporate Transparency Act for Small Businesses

Posted on February 17, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

Beneficial Ownership Information Report

IMPORTANT FOR DOCTORS, CONSULTANTS AND ADVISORS

By Staff Reporters

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New Tax Filing Requirement: Beneficial Ownership Information

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The BOI E-Filing System supports the electronic filing of the Beneficial Ownership Information Report (BOIR) under the Corporate Transparency Act (CTA). The CTA requires certain types of U.S. and foreign entities to report beneficial ownership information to the Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the Treasury.

This notice is given under the Privacy Act of 1974 (Privacy Act) and the Paperwork Reduction Act of 1995 (Paperwork Reduction Act). The Privacy Act and Paperwork Reduction Act require that FinCEN inform persons of the following when requesting and collecting information in connection with this collection of information.

This collection of information is authorized under 31 U.S.C. 5336 and 31 C.F.R. 1010.380. The principal purpose of this collection of information is to generate a database of information that is highly useful in facilitating national security, intelligence, and law enforcement activities, as well as compliance with anti-money laundering, countering the financing of terrorism, and customer due diligence requirements under applicable law. Pursuant to 31 U.S.C. 5336 and 31 C.F.R. 1010.380, reporting companies and certain other persons must provide specified information. The provision of that information is mandatory and failure to provide that information may result in criminal and civil penalties. The provision of information for the purpose of requesting a FinCEN Identifier is voluntary; however, failure to provide such information may result in the denial of such a request.

Generally, the information within this collection of information may be shared as a “routine use” with other government agencies and financial institutions that meet certain criteria under applicable law. The complete list of routine uses of the information is set forth in the relevant Privacy Act system of record notice available at https://www.federalregister.gov/documents/2023/09/13/2023-19814/privacy-act-of-1974-system-of-records.

According to the Paperwork Reduction Act of 1995, no persons are required to respond to a collection of information unless it displays a valid OMB control number. The valid OMB control number for this information collection is 1506-0076. It expires on November 30, 2026.

The estimated average burden associated with this collection of information from reporting companies is 90 to 650 minutes per respondent for reporting companies with simple or complex beneficial ownership structures, respectively. The estimated average burden associated with reporting companies updating information previously provided is 40 to 170 minutes per respondent for reporting companies with simple or complex beneficial ownership structures, respectively. The estimated average burden associated with this collection of information from individuals applying for FinCEN identifiers is 20 minutes per applicant. The estimated average burden associated with individuals who have obtained FinCEN identifiers updating information previously provided is 10 minutes per individual.

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Comments regarding the accuracy of this burden estimate, and suggestions for reducing the burden should be directed to the Financial Crimes Enforcement Network, P. O. Box 39, Vienna, VA 22183, Attn: Policy Division.

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CPI LABOR DEPARTMENT FINANCIAL REPORT: Inflation Cools

Posted on February 13, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

SPONSOR: http://www.MarcinkoAssociates.com

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Navigating Inflation: Short and Long-term financial strategies ...

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The Dow closed at a record high, while the other major indexes dipped slightly as investors await a slew of information this week.

READ HERE: https://marcinkoassociates.com/bank-types/

For example, a new government inflation reading just dropped this morning, and 61 companies in the S&P 500 reported earnings.

Inflation cooled again in January, but the declines may have paused. The Labor Department reported Tuesday that consumer prices rose 3.1% in January from a year earlier, versus a December gain of 3.4%. That marked the lowest reading since June. Core prices, which exclude food and energy items in an effort to better track inflation’s underlying trend, were up 3.9%. That was equal to December’s gain, which was the lowest since mid-2021.

And, Nvidia kept inching up and at one point overtook Amazon, briefly becoming the fourth-most-valuable company listed in the US.

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

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FOMC: Interest Rates Hold Steady

Posted on February 1, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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The FOMC just held interest rates steady and interest rates probably won’t go down in March.

Most investors were expecting the Federal Reserve to finally start cutting interest rates at its next meeting in March, but after its latest meeting concluded yesterday, Jerome Powell splashed cold water on that idea.

Speaking during a press conference, Powell explained that he doesn’t think it’s likely that the Federal Reserve will have reached “a level of confidence” that inflation has come down enough to start slashing rates that soon.

However, he at least said cuts were likely coming sometime this year. And, the markets crashed. Technology stocks in particular had a rough one, giving the NASDAQ its worst day since October.

And, NY Community Bancorp—which scooped up most of failed Signature Bank’s assets last year—tanked after reporting a surprise loss for Q4, spurring fears of another regional banking crisis.

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DAILY UPDATE: Banks Warn as Up Stock Markets are Reviewed

Posted on January 21, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Four U.S. banks warned of lower interest income for this year on Friday, capping a week of dour commentary from the industry that has been under pressure from high deposit costs. After more than a year of booking strong profits on the back of the high interest they were able to charge on loans, banks are contending with a string of challenges heading into 2024, including weaker loan growth and potentially tougher capital rules.

BANK TYPES: https://marcinkoassociates.com/bank-types/

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Markets: Investors saw the S&P 500 and the Dow finished Friday at all-time highs. Soaring tech stocks helped the S&P blow past both intra-day and closing records set in January 2022.
Stock spotlight: Spirit Airlines had a bumpy ride this week. After falling for days, the budget carrier took off when it raised its forecast and said it still believes in the deal for JetBlue to buy it that a judge has blocked. Spirit and JetBlue also filed an appeal to try to save the merger.

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

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DAILY UPDATE: Drug Makers Rise, Reddit to IPO and Stock Markets Surge

Posted on January 20, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Top 1000 Pharma Companies in 2020 - Pharma Excipients

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Drugmakers kicked off 2024 by raising the list prices for Ozempic, Mounjaro and dozens of other widely used medicines. Companies including Novo Nordisk, the maker of Ozempic, and Eli Lilly, which sells Mounjaro, raised list prices on 775 brand-name drugs during the first half of January 2024, according to an analysis for The Wall Street Journal by 46brooklyn Research, a nonprofit drug-pricing analytics group.

The drugmakers raised prices of their medicines by a median 4.5%, though the prices of some drugs rose by around 10% or higher, according to the research group. The median increase is higher than the rate of inflation, which ticked up to 3.4% in December.

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Reddit’s IPO is reportedly due in March. According to Reuters, the social media platform’s long-awaited initial public offering will launch by the end of March after it makes its public filing in late February. It’ll be the first big social media IPO since 2019, when Pinterest went public. All eyes will fall on Reddit’s own users, who are known to fuel meme stock rallies—namely AMC and GameStop—and could help prop up the company’s debut on the stock market. Valued at about $10 billion as of 2021, Reddit reportedly will sell 10% of its shares as it competes with TikTok and Facebook for attention and ad dollars.

Here’s where the major benchmarks ended:

The S&P 500 index rose 58.87 points (1.2%) to 4,839.81, up 1.2% for the week; the Dow Jones Industrial Average gained 395.19 points (1.1%) to 37,863.80, up 0.7% for the week; the NASDAQ Composite^® (COMP) increased 255.32 points (1.7%) to a two-year high of 15,310.97, up 2.3% for the week.
The 10-year Treasury note yield (TNX) fell about 1 basis point to 4.132%.
The CBOE Volatility Index^® (VIX) fell 0.83 to 13.30.

Strength in Nvidia and other chipmakers like Advance Micro Devices (AMD), which surged 6%, lifted the Philadelphia Semiconductor Index (SOX) 4% to a record high close. Regional banks were also among the market’s strongest performers, as the KBW Regional Banking Index (KRX) added nearly 2%. Food and beverage companies and utilities were among the weakest performers.

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DAILY UPDATE: Low Unemployment Claims, Medicare [Part C] Declines and Stock Market Rebound Gains

Posted on January 19, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Statistic 187,000: That’s how many first time unemployment claims were filed last week, a surprise decline and the lowest since September 2022. The resilient labor market is continuing to chug along as companies continue to hold on to the workers they have.

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Managed-care companies are reporting that seniors on Medicare Advantage Part C plans used far more medical services than expected in the final months of 2023. The announcements have sparked two separate selloffs over the past week: The first came January 12th, when UnitedHealth Group announced its fourth-quarter earnings. The second came Thursday, after Humana laid out preliminary fourth-quarter results, and said the high utilization trends would have a material impact on its 2024 performance “if current trends continue.”

CITE: https://www.r2library.com/Resource/Title/082610254

In response, three largest sponsors of Medicare Advantage plans, UnitedHealth Group, CVS Health, and Humana, have seen their shares fall 3.2%, 7.5%, and 14.3% so far this year, respectively, as of midday Thursday. The S&P 500 is down 0.6% over the same period, while Cigna Group—which is reportedly near a deal to sell its relatively small Medicare Advantage business—is up 1%.

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Here’s where the major benchmarks ended:

The S&P 500 index rose 41.73 points (0.9%) to 4,780.94; the Dow Jones Industrial Average^® (DJI) gained 201.94 points (0.5%) to 37,468.61; the NASDAQ Composite increased 200.03 points (1.4%) to 15,055.65.
The 10-year Treasury note yield (TNX) rose nearly 4 basis points to 4.142%.
The CBOE Volatility Index^® (VIX) fell 0.66 to 14.13.

Gains in Taiwan Semiconductor and its industry counterparts sent the Philadelphia Semiconductor Index (SOX) up 3.4% to a three-week high. In a further illustration of tech sector strength, the Nasdaq-100^® (NXD), which includes the NASDAQ’s largest non-financial companies, rose 1.5% to a record closing high. Banking and utility shares were among the market’s weakest performers.

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DAILY UPDATE: Cigna Changes Leadership as Stocks Slide

Posted on January 18, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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The Cigna Group (NYSE:CI) has announced leadership changes designed to continue accelerating growth across Evernorth Health Services and Cigna Healthcare.

Brian Evanko to continue as CFO, will serve as new President and CEO of Cigna Healthcare and Ann Dennison to join The Cigna Group as Deputy CFO.

Here’s where the major benchmarks ended:

The S&P 500 index fell 26.77 points (0.6%) to 4,739.21; the Dow Jones Industrial Average^® (DJI) lost 94.45 points (0.3%) to 37,266.67; the NASDAQ Composite^® (COMP) dropped 88.73 points (0.6%) to 14,855.62.
The 10-year Treasury note yield rose more than 3 basis points to 4.10%.
The CBOE^® Volatility Index (VIX) climbed 0.95 to 14.79.

Real estate and utility shares were among the market’s weakest performers Wednesday, with the Dow Jones Utility Average (DJU) losing 1.4% and ending at its lowest level since late November. Small-cap stocks also remained under pressure. The Russell 2000^® Index (RUT) fell 0.7% and ended at a five-week low. In other markets, the U.S. Dollar Index (DXY) strengthened to a five-week high as the retail sales report fueled optimism over the economy.

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DAILY UPDATE: UNH, Drizly and the Chinese Economy Down as Stock Slump Broadly

Posted on January 17, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Many analysts are talking about a rebound in healthcare stocks in 2024. If that’s the case, investors should load up on shares of UnitedHealth Group (NYSE:UNH) and buy the dip after the company’s Q4 results. The largest healthcare insurer in the U.S. reported Q4 financial results that beat Wall Street forecasts on the top and bottom lines. But, UNH stock dropped 3% due to higher-than-expected utilization rate for medical services.

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Uber is shutting down alcohol delivery app Drizly, the company confirmed, three years after acquiring the platform for $1.1 billion. Drizly will officially shut down at the end of March, Uber told The Associated Press. That means orders are open until then, Drizly said in details posted on X, the platform formerly known as Twitter.

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And, after a rocky couple of years for the Chinese economy, the country’s stock market appears to be in free fall now, with authorities asking institutional investors not to sell stocks in an attempt to stabilize share prices as foreigners are pulling out. On Monday, Chinese equities dipped after the country’s central bank decided to keep its medium-term policy rate unchanged at 2.5 percent, failing to cut interest as was widely expected by investors. The country’s CSI 300 was at its lowest level since 2019, a record only previously beaten in October 2023.

Here’s where the major benchmarks ended:

The S&P 500^® index (SPX) fell 17.85 points (0.4%) to 4,765.98; the Dow Jones Industrial Average lost 231.86 points (0.6%) to 37,361.12; the NASDAQ Composite^® (COMP) declined 28.41 points (0.2%) to 14,944.35.
The 10-year Treasury note yield rose about 11 basis points to 4.06%.
The CBOE^® Volatility Index (VIX) rose 0.59 to 13.84.

Banks and energy shares were among the weakest performers Tuesday, the latter sector pressured by a 1.1% drop in crude oil futures. Climbing yields appeared to drag down financial shares, with the KBW Regional Banking Index (KRX) sinking 1.7% to its lowest level in over a month. Semiconductors were among the few sectors to post gains.

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DAILY UPDATE: IRS Tax Preparer Threat to the Wealthy Elite?

Posted on January 16, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

The stock markets were closed yesterday for MLK Day. But, with everyone there talking about AI, one stock to watch is Nvidia, which has continued to climb this year after soaring nearly 240% last year.

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The Internal Revenue Service (IRS) has announced plans to launch a pilot plan, Direct File, providing a free method for U.S. workers to file their federal taxes. This new system aims to allow taxpayers to submit their federal tax returns at no cost through an in-house filing system. This development presents a significant challenge to tax preparation firms like TurboTax.

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And, despite the IRS, it’s never a bad time to be rich. The world’s five richest people have more than doubled their wealth since 2020, according to Oxfam. Tesla’s Elon Musk, LVMH’s Bernard Arnault, Amazon’s Jeff Bezos, Oracle’s Larry Ellison, and Berkshire Hathaway’s Warren Buffett together had $405 billion in March 2020 compared to $869 billion as of November 2023, the charity group found.

Oxfam predicts that if things continue as they are, the world will see its first trillionaire within the next 10 years—though the anti-poverty group also noted that almost 5 billion people have become poorer over roughly the same period.

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

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DAILY UPDATE: Martin Luther King Day 2024

Posted on January 15, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

By Dr. David Edward Marcinko MBA

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Today we acknowledge and focus on Market Luther King Day.

Not only is it a day to honor the legacy of Dr. King, but it’s also the only federal holiday to be designated as a National Day of Service to encourage Americans to get involved in their local communities. As King famously said, “Life’s most persistent and urgent question is, ‘What are you doing for others?’”

And so, we shall reprint the Best of the ME-P articles concerning health equity, health diversity and healthcare inclusion all day, today.

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https://medicalexecutivepost.com/2024/01/09/invite-dr-marcinko-to-speak-at-your-next-seminar-webcast-or-event-in-late-2023-2/

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DAILY UPDATE: Stock Markets Mixed

Posted on January 12, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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SPONSOR: http://www.MarcinkoAssociates.com

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Here is where the major benchmarks ended:

The S&P 500^® index (SPX) fell 3.21 points (0.1%) to 4,780.24; the Dow Jones Industrial Average^® (DJI) gained 15.29 points to 37,711.02; the NASDAQ Composite^® (COMP)rose 0.55 point to 14,970.19.
The 10-year Treasury note yield dropped about 4 basis points to 3.988%.
The CBOE^® Volatility Index (VIX) fell 0.25 to 12.44.

Nathan Peterson, director of derivatives analysis at the Schwab Center for Financial Research, noted that technology was one of few sectors to buck Thursday’s market weakness, as so-called mega-caps including Nvidia (NVDA) and Microsoft (MSFT) notched new record highs. Also, Amazon (AMZN), Google parent Alphabet (GOOGL), and Netflix (NFLX) each posted new 52-week highs, illustrating continued investor rotation back into that sector.

In other markets, the Securities and Exchange Commission (SEC) approved exchange-traded funds (ETF) linked to the spot bitcoin market late Wednesday. The spot market, also known as the cash market, refers to forums where commodities, securities, and other assets can be immediately exchanged between buyers and sellers. The move opens up a new crypto inroad for investors who might otherwise not want to hold actual bitcoin and looks like a potential bellwether event for individual investors and crypto itself. ETFs linked to spot bitcoin began trading today.

Bitcoin prices have nearly tripled since the start of 2023, reaching $47,000 earlier this month, partly reflecting anticipation of the SEC decision and amid hopes of easing interest rate policy.

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

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DAILY UPDATE: Stock Markets Slip as Technology Stocks Remain Firm

Posted on January 10, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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The S&P 500^® index (SPX) was down 7.04 points (0.2%) at 4,756.50; the Dow Jones Industrial Average^® (DJI) was down 157.85 points (0.4%) at 37,525.16; the NASDAQ Composite was up 13.94 points (0.1%) at 14,857.71.
The 10-year Treasury note yield (TNX)was up about 2 basis points at 4.019%.
The CBOE^® Volatility Index (VIX) was down 0.32 at 12.76.

Energy shares were among the market’s weakest performers Tuesday despite a rally of nearly 2% in crude oil futures. The Philadelphia Oil Service Index (OSX) sank 2.4% to a four-week low. Banking and materials were also notably soft. Small-cap stocks remained under pressure, sending the Russell 2000^® Index (RUT) down 1.1%.

Despite the market’s weak start to the year, excessively bullish sentiment “remains a risk” to the recent rally, according to Kevin Gordon, senior investment strategist at Schwab. But he also noted that market “breadth,” the number of advancing shares versus declining shares, is “healthier” than it was for much of 2023. Sentiment “is still quite stretched, which means that the market remains vulnerable to a correction,” Gordon said. “However, the backdrop—whether it’s the number of stocks trading above their 200-day moving average, outperforming their respective benchmark, or in an uptrend—is relatively healthy. That keeps the broader uptrend in place, albeit not perfectly or smoothly.”

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BEWARE: Holiday Healthcare Telephone Scams.

Posted on December 23, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

OPEN ENROLLMENT

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According to new data released by Hiya, a company that tracks phone fraud and spam, calls offering phony health plans and fraudulent Medicare support skyrocketed between October and November this year, coinciding with the start of the marketplace open-enrollment period that runs from November 1st through January 16th, 2024.

Whether the automated message purports to be from Dale at Elite Medicare Options or Ashley from the Health Enrollment Center (both real examples that Hiya has documented), the fraud-protection platform found that most scammers will try to get their target to interact with a button- or voice-activated menu.

The menu might be disguised as a survey of Medicare coverage or an option to opt out of receiving future calls, according to Hiya, but either way, the person who responds to the automated call could be in trouble.

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NEWS: Insurance, Health and Medical Care

Posted on December 20, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Supermarket chain Kroger is moving into primary care for seniors. The company is partnering with Better Health Group to test out a value-based, primary care model at eight of its in-store clinics in Atlanta.

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As the Artificial Intelligence race heats up, Google unveiled this week new AI models called MedLM purpose-built for healthcare use cases like summarizing patient-doctor interactions. HCA Healthcare is already testing out the technology.

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And … Cigna is attracting plenty of interest for the rumored sale of its Medicare Advantage business, Bloomberg reported, here: who’s competing to scoop up the MA segment.

CITE: https://www.r2library.com/Resource/Title/082610254

CVS, Oscar Health and Geisinger join 25 other payers, providers to sign AI safety pledge

Finally, more than two dozen healthcare payers and providers are making voluntary safety, security and transparency commitments to the White House regarding the use of artificial intelligence.

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ALERT: Remote Patient Monitoring

Posted on December 4, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

RPM CONSUMER ALERT

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The U.S. Department of Health and Human Services Office of Inspector General is alerting the public about a fraud scheme involving monthly billing for remote patient monitoring. This scam involves signing up Medicare enrollees for remote patient monitoring (RPM). Legitimate RPM involves using medical devices such as scales, glucose monitors, blood pressure cuffs, cardiac rhythm devices, and other equipment to remotely monitor for anomalies in patients with chronic medical conditions. This new treatment is beneficial for those whose condition might deteriorate quickly, where monitoring can reduce complications, hospitalizations, or death.

CITE: https://www.r2library.com/Resource/Title/082610254

Unscrupulous companies are signing up Medicare enrollees for this service, regardless of medical necessity. Scammers have several ways to make contact. It may involve phone solicitations (“cold calling”), internet ads (“click bait”), or television advertising. These contacts may originate from a Durable Medical Equipment Company (DME) or pharmacy. Equipment may or may not be sent or is equipment that is not FDA-approved.

HIT: https://www.amazon.com/Dictionary-Health-Information-Technology-Security/dp/0826149952/ref=sr_1_5?ie=UTF8&s=books&qid=1254413315&sr=1-5

Billing then occurs for set-up, patient teaching, and monthly monitoring of data. Most often, the monthly monitoring never happens, but the enrollee is billed monthly anyway.

Source: OIG

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RIP: Charlie Munger of Berkshire Hathaway

Posted on November 29, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

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PRESS RELEASE:

Charlie Munger, a champion of common-sense investing who forever altered the finance world as the top adviser and dry-witted sidekick to Warren Buffett, the most successful financier in history, died Nov. 28 at a hospital in California. He was 99.

His death was announced by Berkshire Hathaway, the Omaha-based investment company he helped lead with Buffett. The firm did not give a cause or say exactly where he died.

BH: https://berkshirehathaway.com/2022ar/2022ar.pdf

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CYBER MONDAY, et al.

Posted on November 27, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Many wanted to discount Black Friday this year, but discounts only made it stronger. Despite analysts’ tepid outlook, the shopping holiday generated a record $9.8 billion in online sales in the US, a 7.5% increase over a year ago, according to Adobe Analytics

Here is where the major benchmarks ended the month:

The S&P 500 has had a sensational month—up nearly 8.7%. It’s one of the best Novembers on record. Since 1928, the S&P has gained more than 8% in November fewer than 10 times, per Bloomberg.

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And, don’t expect things to slow today—Adobe predicts a record $12 billion in sales on Cyber Monday, a 5.4% increase over last year and the biggest online shopping day in US history. Retailers are set to cut prices by 30% on electronics, one of the biggest sales drivers over the past week.

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SHOP: Small Business Saturday

Posted on November 25, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

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Today, Saturday November 25th, 2023 is Small Business Saturday – a day to celebrate and support small businesses and all they do for their communities. This year, we know that small businesses need our support now more than ever as they navigate, retool and pivot from the effects of the coronavirus pandemic. Please join the U.S. Small Business Administration and related organizations across the country in supporting your local small businesses by shopping at a small business.

Founded by American Express in 2010 and officially cosponsored by SBA since 2011, Small Business Saturday has become an important part of small businesses’ busiest shopping season. Historically, reported projected spending among U.S. consumers who shopped at independent retailers and restaurants on Small Business Saturday reached an estimated $17.9 billion according to the 2022 Small Business Saturday Consumer Insights Survey

And, the highly successful team of SBA, Women Impacting Public Policy (WIPP), and American Express will be kicking off the 2023 holiday season by encouraging consumers to support our nation’s nearly 32 million independent businesses this Small Business Saturday and all holiday season long.

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FINANCE BENEFITS: Health Care News

Posted on November 21, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

HSAs and FSAs

By Staff Reporters

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As cold and flu season truly sets in, major home delivery platforms are now allowing customers to purchase products using their health benefits.

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Two major healthcare deals closed last week, including a $3 billion merger between Virgin Pulse and third-party administrator HealthComp, on the heels of a relatively quiet year for healthcare M&A deals.

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And … Redesign Health has launched Harmonic Health. The digital health company’s care team will partner with PCPs, neurologists, healthcare systems and ACOs to deliver comprehensive dementia care.

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DAILY UPDATE: Microsoft and Strong Technology Stock Market Gains

Posted on November 21, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Stocks started the short trading week by ticking upward yesterday. Microsoft climbed to its highest in a year after appearing to be the winner in OpenAI’s Sam Altman drama.

Read: Recommendations on books, classes, and music from Bill Gates. (GatesNotes)

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Here is where the major US stock market benchmarks ended:

The S&P 500 Index was up 33.36 points (0.7%) at 4,547.38; the Dow Jones^® Industrial Average (DJI) was up 203.76 points (0.6%) at 35,151.04; the NASDAQ Composite® was up 159.05 points (1.1%) at 14,284.53.
The 10-year Treasury note yield (TNX) was down about 2 basis points at 4.42%.
CBOE Volatility Index® (VIX) was down 0.39 at 13.41.

Strength in technology was illustrated by the Philadelphia Semiconductor Index (SOX), which jumped almost 2% and neared a four-month high. Communications services shares were also strong, as were energy companies, helped by a second-straight day of sharp gains in crude oil futures.

The small-cap focused Russell 2000 Index (RUT) rose 0.5% to a two-month high, following last week’s 5.4% rally that outpaced its large-cap counterparts.

And, Bayer’s stock had its worst day ever, dropping the company’s value by ~$8 billion, after a US jury ordered it to pay $1.56 billion over claims its Roundup weedkiller caused cancer and the company had to stop the trial for its top drug candidate because it wasn’t working.

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ECONOMY: CPI Prices Steady Pending Government Shut-Down?

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

By Staff Reporters

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DEFINITION: In the USA shutdowns occur when funding legislation required to finance the Federal Government is not enacted before the next fiscal year begins. In a shutdown, the federal government curtails agency activities and services, ceases non-essential operations, furloughs non-essential workers, and retains only essential employees in departments that protect human life or property. Shutdowns can also disrupt state, territory and local levels of government.

Fortunately, prices held steady for consumers and are growing at a slower pace, the U.S. government just reported Tuesday morning, as overall prices in October were the same as what consumers paid in September.

The Bureau of Labor Statistics says prices in October were unchanged as gasoline prices declined and shelter costs continued to rise. The Consumer Price Index rose 3.2% compared to a year ago, the latest sign that inflation is slowing down as interest rates rise and the job market gives up some of its recent strength.

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And, the stock markets rocked upward as Presidents Biden and Xi meet in San Francisco and Congress counts down toward a possible government shutdown. As stocks were a mixed bag yesterday as investors kept their eyes trained on Washington for the latest inflation good news data and to see whether lawmakers can hammer out a budget deal to keep the government from shutting down on Friday.

Yet, Boeing stock took off following reports that China may soon end its freeze on the 737 Max, as well as the announcement of several deals for new aircraft, including Emirates’s $52 billion order for 95 planes.

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DAILY UPDATE: The AMA Comments on Medicare Payment Cuts in 2024

Posted on November 5, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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“The Medicare physician payment schedule released today is an unfortunate continuation of a two-decade march in making Medicare unsustainable for patients and physicians.

For 2024, the new rule indicates there will be another downward adjustment of 3.4 percent, on top of the 2 percent payment reduction in 2023. At the same time, the payment schedule confirms the Medicare Economic Index (MEI) increase at 4.6 percent, the highest this century and on top of last year’s 3.8 percent. MEI is the government measure of inflation in medical practice costs. “

“When adjusted for inflation, Medicare physician payment already has effectively declined 26% from 2001 to 2023 before additional inflation and these cuts are factored in.”

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Source: AMA [11/2/23]

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DAILY UPDATE: New IRS Contribution Limits as IBM Launches Retirement RBAs, Sam Bankman-Fried Found Guilty and Stock Markets Rocket Up

Posted on November 3, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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The IRS has increased the 401(k) plan contribution limits for 2024, allowing employees to defer up to $23,000 into workplace plans, up from $22,500 in 2023. The agency boosted contributions for individual retirement accounts to $7,000 for 2024, up from $6,500. The employee contribution limit for 401(k) plans is also increasing to $23,000 in 2024, up from $22,500 in 2023, and catch-up contributions for savers age 50 and older will remain unchanged at $7,500. The new amounts also apply to 403(b) plans, most 457 plans and Thrift Savings Plans.

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IBM just informed its US workers that starting on January 1st, 2024, the corporation will no longer match employee contributions to their 401(k) retirement plans. Instead, it will offer a new benefit called a Retirement Benefit Account (RBA).

“Each eligible employee’s RBA will be credited monthly with an amount equal to five percent of their eligible pay – no employee contribution required,” a leaked internal memo reads, the content of which was confirmed by The Register’s sourcing. “IBMers will also receive a one-time salary increase to offset the difference between the IBM contributions they are currently eligible to receive in the 401(k) plan and the new five percent RBA pay credit. This is separate from the annual salary plan later in the year.”

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A jury on Thursday convicted FTX co-founder Sam Bankman-Fried of fraud, conspiracy and money laundering, the culmination of a month-long trial that saw the former crypto mogul take the stand in his own defense after his inner circle of friends-turned-deputies provided damning testimony against him.

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Here is where the major benchmarks ended:

The S&P 500 Index was up 79.92 points (1.9%) at 4,317.78; the Dow Jones Industrial Average (DJI) was up 564.50 points (1.7%) at 33,839.08; the NASDAQ Composite was up 232.72 points (1.8%) at 13,294.19.
The 10-year Treasury note yield was down about 13 basis points at 4.663%.
CBOE’s Volatility Index (VIX) was down 1.21 at 15.66.

Nearly every sector participated in Thursday’s rally, with banks and other financial companies leading gainers. The KBW Regional Banking Index (KRX) surged more than 5%. Energy and retail shares were also strong. Small-cap stocks outpaced their larger counterparts, with the Russell 2000 Index (RUT) jumping 2.5%.

***

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DAILY UPDATE: Merck Up, KP and Junk Fees Down, Interest Rates Unchanged as Stock Markets Jump Again

Posted on November 2, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

SPONSOR: http://www.CertifiedMedicalPlanner.org

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Merck reported $640 million in sales for its Covid-19 drug, Lagevrio, in Q3 earnings, blowing past analyst expectations of $140.8 million. Covid drug sales have dropped for most big pharma companies this year, with Pfizer lowering its total expected 2023 earnings by about $9 billion due mostly to declining Paxlovid sales. Merck attributed the boost to increasing demand for Lagevrio in Japan.

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California’s largest health system agreed to a $200 million settlement on October 12th following an investigation that found the system has failed to provide timely behavioral health appointments for patients and has canceled more than 100,000 appointments.

Kaiser Permanente, which also runs a health plan, will “undertake a systemic overhaul” of its behavioral health services, Mary Watanabe, director of the Department of Managed Health Care (DMHC), the regulatory body that oversees managed care plans in California, said in a statement. The DMHC began investigating Kaiser in May 2022 after the Oakland-based health system saw a 20% increase in behavioral health patient complaints in 2021, the DMHC said in a statement.

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President President Biden spoke Tuesday afternoon on what the White House has called a crackdown on “junk fees” in retirement planning. Such fees chip away at account balances over time, leading to lifetime savings that are up to 20% less than if advisors were held to the highest standards, according to a White House statement.

Under current regulations, advisors who provide advice to workers rolling their 401(k) or related plan into an individual retirement account are generally not considered a fiduciary—that is, a professional who must put clients’ interests ahead of their own. This means that an advisor could steer an investor into, say, an annuity that pays the advisor a big commission, even if it’s not the best option for the investor. In some cases, commission costs and other fees are baked into the product, as opposed to paid outright, and investors don’t realize that they are silently eating into returns over time.

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The Federal Reserve left interest rates unchanged Wednesday as it continues to track inflation and the health of the economy. The central bank voted unanimously to leave its primary interest rate in the range of 5.25% to 5.50%. U.S. interest rates are the highest they’ve been in 23 years. That means interest rates on loans such as mortgages have gone up sharply, and so have payments on Treasury bonds and interest-bearing accounts.

Here is where the major benchmarks ended:

The S&P 500 Index was up 44.06 points (1.1%) at 4,237.86; the Dow Jones Industrial Average (DJI) was up 221.71 points (0.7%) at 33,274.58; the NASDAQ Composite was up 210.23 points (1.6%) at 13,061.47.
The 10-year Treasury note yield (TNX) was down about 11 basis points at 4.761%.
CBOE’s Volatility Index (VIX) was down 1.30 at 16.84.

In addition to technology, communication services and utilities were among the strongest sectors Wednesday. Energy shares were under pressure as crude oil futures extended this week’s slump and ended at a two-month low. The U.S. dollar index (DXY) tumbled from an earlier rally to a one-month high, potentially reflecting expectations that domestic interest rates may be near a peak.

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DAILY UPDATE: Physical Therapy Month, UAW Strike and the Markets

Posted on October 26, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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October is Physical Therapy Month, a time to celebrate the contributions that physical therapists, their aides, and assistants make to the industry. There are more than 300 million annual physical therapy visits in the US, and the profession is estimated to be worth $46 billion, according to the American Physical Therapy Association. Make sure to take some time to appreciate any physical therapists in your life.

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The United Auto Workers union said it reached a tentative labor contract with Ford that, if ratified, would mark the biggest gains for unionized auto workers in decades. The deal includes a 25% pay bump over the four years of the contract, cost-of-living adjustments that had been previously suspended, and a quicker timeline for new workers to reach the highest wage ($40 an hour for assembly workers by the end of the contract).

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Here is where the major benchmarks ended:

The S&P 500 Index was down 60.91 points (1.4%) at 4,186.77; the Dow Jones Industrial Average (DJI) was down 105.45 points (0.3%) at 33,035.93; the NASDAQ Composite was down 318.65 points (2.4%) at 12,821.22.
The 10-year Treasury note yield was up about 11 basis points at 4.946%.
CBOE’s Volatility Index (VIX) was up 1.30 at 20.27.

Communication services and technology were among the market’s weakest sectors Wednesday, with the Philadelphia Semiconductor Index (SOX) dropping more than 4%. Small-cap stocks also remained under pressure, with the Russell 2000 Index (RUT) falling more than 1% to near a 13-month low.

Small-caps are often seen as being more sensitive to the domestic economic cycle because they tend to conduct most of their business in the United States. Utilities and consumer staples were among the few areas of strength.

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DAILY UPDATE: Mixed Markets

Posted on October 24, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Here is where the major benchmarks ended today:

The S&P 500^® Index (SPX) was down seven points (0.2%) at 4,217.04; the Dow Jones Industrial Average (DJI) was down 191 points (0.6%) at 32,936.41; the NASDAQ Composite was up 35 points (0.3%) at 13,018.33.
The 10-year Treasury note yield was down about nine basis points at 4.845%.
CBOE’s Volatility Index (VIX) was down 1.4 points at 20.35.

The communication services, technology, and consumer discretionary were the best sector performers, thanks in part to gains in big tech companies.

Energy was the laggard Monday, as WTI crude dropped 2.6% to below $86 a barrel.

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DAILY UPDATE: US Budget Deficit and Treasury Yields Rise as Chevron Buys Hess

Posted on October 23, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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The 2023 federal budget deficit surged by 23% to $1.7 trillion, leaving the US in its deepest yearly fiscal hole outside of the Covid era, according to the Treasury Department, which released the data on Friday.

But a closer look reveals the financial picture is even worse than the headline #s suggest.

The Treasury recorded the Biden administration’s ~$300 billion student loan forgiveness program as a cost last year, but it was struck down by the Supreme Court and never took effect, resulting in the Treasury considering it a savings this year.
That means the year over year increase effectively doubled from $1 trillion in 2022 to $2 trillion in 2023.

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The benchmark 10-year Treasury bond yield rose above 5% and to its highest since 2007 on Monday, as a roaring U.S. economy led investors to expect interest rates to stay high for an extended period. The combination of those higher yields and risk of a wider conflict in the Middle East soured sentiment at the start of a week full of mega-cap earnings and key data, and pushed global shares down to seven-month lows.

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Chevron said it would buy Hess in an all-stock deal worth $53 billion, the second major oil tie-up this month following Exxon Mobil’s deal to buy Pioneer Natural Resources. The U.S. energy company said buying Hess would upgrade and diversify its portfolio, marking Chevron’s entrance into an Exxon-led partnership overseeing a generational oil find in Guyana, while picking up additional U.S. shale assets largely in North Dakota. Chevron also highlighted the attraction of Hess’s assets in the Gulf of Mexico and its natural-gas business in Southeast Asia.

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DAILY UPDATE: US Budget Deficit Rises as Stock Markets Drop

Posted on October 21, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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The U.S. government on Friday posted a $1.695 trillion budget deficit in fiscal 2023, a 23% jump from the prior year as revenues fell and outlays for Social Security, Medicare and interest costs on the federal debt rose significantly.

The Treasury Department said the deficit was the largest since a COVID-fueled $2.78 trillion gap in 2021 and marks a major return to ballooning deficits after back-to-back declines during President Joe Biden’s first two years in office. The deficit comes as Biden is asking Congress for $100 billion in new foreign aid and security spending, including $60 billion for Ukraine and $14 billion for Israel, along with funding for U.S. border security and the Indo-Pacific region.

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Here is where the major benchmarks ended:

The S&P 500^® Index was down 53.84 points (1.3%) at 4,224.16, down 2.4% for the week; the Dow Jones Industrial Average (DJI) was down 286.89 points (0.9%) at 33,127.28, down 1.6% for the week; the NASDAQ Composite was down 202.37 points (1.5%) at 12,983.81, down 3.2% for the week.
The 10-year Treasury note yield was up about 8 basis points at 4.907%.
CBOE’s Volatility Index (VIX) was up 0.26 at 21.71.

Small-cap stocks, which are considered to be more exposed to economic uncertainty, were also soft, as the Russell 2000 Index (RUT) dropped to a 12-month low and was 2.2% lower for the week.

Gold futures rose 2.3% for the week and ended near a three-month high, as the fighting in the Middle East fueled demand for assets considered to be safe havens. Volatility based on the VIX spiked to its highest level since March.

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DAILY UPDATE: Soaring Bond Yields and the U.S. Markets

Posted on October 20, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Bond yields, which impact borrowing costs for all kinds of loan products, moved higher this week as investors fretted over higher-for-longer interest rates. After notching a 16-year-record earlier this month, the yield on the 10-year Treasury bond continued to surge on Thursday, rising to 4.958%.

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***

Here is where the major benchmarks ended:

The S&P 500 Index was down 36.60 points (0.9%) at 4,278.00; the Dow Jones Industrial Average (DJI) was down 250.91 points (0.8%) at 33,414.17; the NASDAQ Composite was down 128.13 points (1.0%) at 13,186.18.
The 10-year Treasury note yield was up about 9 basis points at 4.988%.
CBOE’s Volatility Index (VIX) was up 2.09 at 21.31.

Powell’s speech and Treasury yields at least partly overshadowed earnings reports from a few major companies, including Netflix (NFLX), whose shares soared 16% after the company reported stronger-than-expected quarterly results.

Otherwise, most areas of the market eroded, with consumer discretionary and real estate among the weakest-performing sectors. Energy shares held up somewhat better as crude oil futures rose for the fifth day in the past six and ended near a three-week high above $89 a barrel.

Gold futures jumped 1% and closed near a three-month high.

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DAILY UPDATE: Big Banks, Health Insurance Costs and the Markets

Posted on October 19, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Though high interest rates have consumers and businesses feeling the pinch, they’ve been a boon to the US’s largest banks. JPMorgan Chase, Citigroup, and Wells Fargo all had stronger-than-expected third-quarter results. In total, the banks earned $22 billion in profit, more than a third higher than in Q3 2022, the Wall Street Journal reported. Their combined revenue was $81 billion, or 14% higher than last year.

Bank stocks dipped last month following the Fed’s meeting, where it held interest rates steady. But though high rates have hurt some smaller banks, they’ve helped keep the large banks’ net interest margins healthy according to CNBC. JPMorgan’s Net Interest Income (NII) was up 30% year over year, rising to $22.9 billion. Wells Fargo’s declined slightly from last quarter, but was still 8% higher than it was last year.

The US economy remains strong, but shows some signs of slowing, bank executives said during recent earnings calls. JPMorgan and Citi took note of consumer spending, with JPMorgan CFO Jeremy Barnum saying, “we are coming on off a very low base. And so there’s a hope and an expectation that we are on the path to normalization and improvement.”

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The average cost for a family health insurance plan offered through an employer jumped 7% this year to $23,968 − the highest rate increase in a decade, according to the annual employer health benefits survey released yesterday by KFF, a nonprofit health policy organization. Prices are far higher than they were a year ago, when premiums increased by 1%.

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Here is where the major benchmarks ended:

The S&P 500 Index was down 58.60 points (1.3%) at 4,314.60; the Dow Jones Industrial Average (DJI) was down 332.57 points (1.0%) at 33,665.08; the NASDAQ Composite was down 219.44 points (1.6%) at 13,314.30.The 10-year Treasury note yield was up about 6 basis points at 4.906%.CBOE’s Volatility Index (VIX) was up 1.42 at 19.30.

Weaker-than-expected quarterly results from some airlines and shipping companies weighed on the transport sector, with the Dow Jones Transportation Average (DJT) sinking 3.4% to end near a four-month low. Financial shares were also lower, with the KBW Regional Banking Index (KRX) dropping nearly 3%. Energy was one of the few areas of strength after WTI Crude Oil futures (CLZ3) jumped above $87 a barrel to a two-week high following a larger-than-expected drop in U.S. supplies. Gold futures rose 1.4% near a two-month high.

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DAILY UPDATE: Retirement Catch-Up Contributions Delayed as Markets Go Down

Posted on October 18, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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The IRS recently announced some welcome news for higher-income workers with 401-k[s] and similar retirement plans. The agency delayed implementing a new rule that would have required catch-up contributions made by people earning over $145,000 to be directed into an after-tax Roth account.

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

***

Here is where the major benchmarks ended:

The S&P 500 Index was down 0.43 point at 4,373.20; the Dow Jones Industrial Average was up 13.11 points at 33,997.65; the NASDAQ Composite (COMP) was down 34.24 points (0.3%) at 13,533.75.
The 10-year Treasury note yield was up about 13 basis points at 4.84%.
CBOE’s Volatility Index (VIX) was up 0.68 at 17.89.

Technology shares were among the market’s weakest performers Tuesday, with the Philadelphia Semiconductor Index (SOX) dropping more than 1%. Banks and retailers did better.

The KBW Regional Banking Index (KRX) rose 2% to end near a four-week high. Small-cap stocks were also higher, with the Russell 2000 Index (RUT) gaining more than 1%.

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DAILY UPDATE: Neuberger Berman’s ShareHolder Proposal, Yellen Suggests Higher IRs Persist, LinkedIn Lays-Off as the Markets Rise

Posted on October 17, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Neuberger Berman is submitting a shareholder proposal to Lions Gate Entertainment Corp., advocating for an end to the dual-class voting structure at the company ahead of a spinoff of its studio business.

The investment manager owns 0.02% of the company’s class A shares and 4.4% of the non-voting class B shares, according to a statement and Bloomberg calculations. Neuberger Berman, which has been a shareholder since 2016, submitted a proposal after having sent a letter to Lions Gate’s board last month.

Neuberger Berman said “one share, one vote” is a foundational principle of corporate governance and that dual-class structures are inconsistent with market practice with a 7% adoption among S&P 500 companies. It also said the structure may impair value and increase risk as it complicates capital structure and gives certain shareholder outsized influence.

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Treasury Secretary Janet Yellen said higher interest rates may persist, while insisting the US economy is “in a good place.” The interest on US debt, which stands at 98% of economic output, “remains manageable,” Yellen said on Monday in an interview with Sky News. “Higher interest rates may persist although that’s not clear,” she said. “Our fiscal situation is by no means unsolvable. We have to be attentive to it.”

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LinkedIn said Monday it is laying off hundreds of employees amounting to about 3% of the social media company’s workforce. The Microsoft-owned career network is cutting about 668 roles across its engineering, product, talent and finance teams. “Talent changes are a difficult, but necessary and regular part of managing our business,” the company said in a statement.

***

Here is where the major benchmarks ended:

The S&P 500 Index was up 45.85 points (1.1%) at 4,373.63; the Dow Jones Industrial Average was up 314.25 points (0.9%) at 33,984.54; the NASDAQ Composite (COMP) was up 160.75 points (1.2%) at 13,567.98.
The 10-year Treasury note yield (TNX) was up about 8 basis points at 4.71%.
CBOE’s Volatility Index (VIX) was down 2.06 at 17.26.

All 11 S&P 500 sectors posted gains in Monday’s broad-based upswing, led by the S&P Retail Select Industry Index (SPSIRE), which surged 2.7%.

Regional banks and transportation shares were also among the strongest performers. Energy stocks held firm even as WTI crude oil futures slipped over 1%.

***

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DAILY UPDATE: Union Strikes

Posted on October 15, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Kaiser Permanente and unions representing 75,000 of its employees reached a tentative deal for a new contract in the wake of the largest healthcare strike ever in the US.

PODCAST: https://medicalexecutivepost.com/2022/09/12/podcast-medical-unions-in-healthcare/

The UAW did not expand its strike against Detroit’s Big Three automakers, but the union’s president said more workers could be added to the picket lines at any time and urged carmakers to “pony up.”***

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DAILY UPDATE: Citigroup and JPMorgan Chase are Up while the Markets are Down

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

By Staff Reporters

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Citigroup chief Jane Fraser has unveiled a plan to eliminate five layers of management in what is poised to become the bank’s largest restructuring in two decades, according to a presentation unveiled Friday. Since major reorganization changes were announced last month, Citigroup has scrapped its two core operating units — which had focused on institutional and consumer clients — and reorganized into five key business units including trading, banking, services, wealth management, and US consumer offerings. The stock price was up 3%.

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JPMorgan Chase’s third-quarter profit soared 35% from last year, fueled by a rapid rise in interest rates, but the bank’s CEO, Jamie Dimon, issued a sobering statement about the current state of world affairs and economic instability.

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Here is where the major benchmarks ended:

The S&P 500 Index was down 21.83 points (0.5%) at 4,327.78, up 0.4% for the week; the Dow Jones Industrial Average (DJI) was up 39.15 points (0.1%) at 33,670.29, up 0.8% for the week; the NASDAQ Composite (COMP) was down 166.98 points (1.2%) at 13,407.23, down 0.2% for the week.
The 10-year Treasury note yield (TNX) was down about 9 basis points at 4.623%.
CBOE’s Volatility Index (VIX) was up 2.63 at 19.32.

Technology shares were among the market’s weakest sectors Friday, with the Philadelphia Semiconductor Index (SOX) tumbling more than 2%. Regional banks and transportation were also lower.

The small-cap focused Russell 2000 Index (RUT) extended a recent slide and was down 1.5% for the week. Energy shares led sector gainers as WTI crude oil futures soared more than 5%, capping a gain of nearly 6% for the week, after reports the U.S. had tightened sanctions against Russian crude exports.

***

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DAILY UPDATE: US Markets Down a Tad

Posted on October 13, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Here is where the major benchmarks ended today:

The S&P 500 Index was down 27.34 points (0.6%) at 4,349.61; the Dow Jones Industrial Average (DJI) was down 173.73 points (0.5%) at 33,631.14; the NASDAQ Composite was down 85.46 points (0.6%) at 13,574.22.
The 10-year Treasury note yield (TNX) was up nearly 11 basis points at 4.703%.
CBOE’s Volatility Index (VIX) was up 0.58 at 16.67.

Small-cap stocks led the way lower Thursday, as the Russell 2000 Index (RUT) sank more than 2% to a one-week low.

Retailers and utilities were also lower. Semiconductors and energy producers were among the few areas of strength, the latter posting modest gains even after a larger-than-expected increase in U.S. crude stockpiles sent oil futures lower.

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DAILY UPDATE: IPOs Favorable as Markets Rise

Posted on October 12, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Resilient economic and earnings data, an expected end to Fed rate hikes, lower market volatility, and a broader recovery in the equity markets are favorable signs for IPO activity. With 8 of the 10 largest tech IPOs ever, the NYSE is ready when you are. Learn more.

***

Here is where the major benchmarks ended:

The S&P 500 Index was up 18.71 points (0.4%) at 4,376.95; the Dow Jones Industrial Average (DJI) was up 65.57 points (0.2%) at 33,804.87; the NASDAQ Composite was up 96.83 points (0.7%) at 13,659.68.
The 10-year Treasury note yield (TNX) was down nearly 10 basis points at 4.558%.
CBOE’s Volatility Index (VIX) was down 0.93 at 16.10.

Real estate and utilities were among the market’s strongest sectors Wednesday, with the Dow Jones Utility Index (DJU) jumping more than 1% to a two-week high. Communication services and technology shares were also higher.

Energy stocks led sector decliners as crude oil futures fell more than 2%, pressured by reports Saudi Arabia will support efforts to stabilize oil markets to account for uncertainty caused by the fighting in Israel.

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DAILY UPDATE: Birkenstock IPO, Bond Yields and the Markets

Posted on October 11, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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After months of speculation, Birkenstock made its first move to go public in September, sending its prospectus document to the U.S. Securities and Exchange Commission. In the filing, Birkenstock stated it would sell close to 32.26 million shares priced between $44 and $49 per ordinary share to raise about $1.58 billion for the company and its private equity owner L Catterton, which is backed by the French luxury fashion house LVMH. At the low end, the valuation would hover around $8.3 billion, and at the high end about $9.2 billion, according to the numbers revealed in the filing. The prospectus also stated that LVMH CEO Bernard Arnault’s family holding company Financière Agache is interested in buying up to $325 million in shares. Alexandre Arnault, Bernard’ son, will join Birkenstock’s board of directors after the offering. While no date has been confirmed for when the company will officially go public, Birkenstock’s debut on the stock exchange could come as soon as Wednesday, Oct. 11th, 2023.

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A sustained rise in long-term Treasury yields could be bringing the Federal Reserve’s historic rate hiking cycle to an anticlimactic end. Top central bank officials have signaled in recent days that they could be done raising short-term interest rates if long-term rates remain near their recent highs and inflation continues to cool.

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Here is where the major benchmarks ended:

The S&P 500 Index was up 22.58 points (0.5%) at 4,358.24; the Dow Jones Industrial Average (DJI) was up 134.65 points (0.4%) at 33,739.30; the NASDAQ Composite was up 78.60 points (0.6%) at 13,562.84.
The 10-year Treasury note yield was down about 13 basis points at 4.653%.
CBOE’s Volatility Index (VIX) was down 0.66 at 17.04.

Shares of retailers, regional banks, and technology companies were among the market’s strongest performers Tuesday, with the Philadelphia Semiconductor Index (SOX) up more than 1% to a three-week high.

Small-caps also strengthened, with the Russell 2000 Index (RUT) up about 1.5%, outpacing their large-cap counterparts. WTI crude oil futures fell for the first day in three, while the U.S. dollar index (DXY) eroded for the fifth day in a row to touch its lowest level in more than a week.

***

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DAILY UPDATE: Walgreen’s Downsizing, COVID-19 Threat and the Stock Markets

Posted on October 10, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Walgreens’ corporate management have announced that they would be closing 150 of its nearly 9,000 stores in the United States by the end of August 2024 as profits have declined. In an earnings call the Chief Financial Officer James Kehoe said that earnings sunk from $289 million to $118 million from the year prior in the third quarter, CEO Rosalind Brewer said.

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Hospitalizations from COVID-19 pose a “continued public health threat”, particularly to those adults aged 65 and above. This is the warning of a study by researchers from the Centers for Disease Control and Prevention (CDC), which analyzed hospitalizations between January and August this year.

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Markets: Investors will be focused on the outbreak of war in Israel and Gaza, which could lead to volatility in global stock markets and oil prices, depending on the escalation of the conflict. US oil futures jumped. Later in the week, the consumer price index report will give an update on the Fed’s fight against inflation.

Here is where the major benchmarks ended (the bond market was closed for Columbus Day):

The S&P 500 Index was up 27.16 points (0.6%) at 4,335.66; the Dow Jones Industrial Average (DJI) was up 197.07 points (0.6%) at 33,604.65; the NASDAQ Composite was up 52.90 points (0.4%) at 13,484.24.
CBOE’s Volatility Index (VIX) was up 0.25 at 17.70.

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STOCK AND BOND: Are the Financial Markets Open on Columbus Day?

Posted on October 9, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Columbus Day, which is also celebrated as Indigenous Peoples’ Day in some communities, is today Monday, October 9th, 2023.

Here is everything you need to know about the New York Stock Exchange, NASDAQ and bond trading markets on Columbus Day 2023

Is the New York Stock Exchange open on Columbus Day 2023?

The New York Stock Exchange is open on Monday, Oct. 9, 2023.

Is NASDAQ open on Columbus Day 2023?

Nasdaq will also be open on Monday, Oct. 9, 2023.

Will bond markets be open on Columbus Day 2023?

Unlike stock markets, bond markets will remain closed on Monday, Oct. 9, 2023.

This is because the U.S. Treasury is an arm of the federal government, and the federal government is closed on Columbus Day.

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DAILY UPDATE: Columbus / Indigenous Peoples’ Day – Postage Stamps – BlackRock’s ESG Loss – Grantham Predicts

Posted on October 9, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Be alert and ready for the S&P 500 to crash by 50%, house prices to slide, and a recession to strike, Jeremy Grantham says.

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It has been a difficult couple of years for BlackRock, the world’s biggest money manager. The firm is still enormously profitable, though it has recently taken some big hits because of its promotion of ESG investments.

BlackRock ESG: https://www.blackrock.com/us/financial-professionals/investment-strategies/sustainable

More: https://medicalexecutivepost.com/2023/07/18/esg-investing-reversal-of-fortune/

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Under a new proposal from the Post Office, the cost of a First Class stamp would rise to $.68 from $.66. The price was increased from $.63 to $.66 in July. Last January, the price rose from $.60 to $.63. If the new plan is accepted, First Class mail prices will rise 13% over the period.

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DAILY UPDATE: CDC No Longer Issues/Prints Vaccination Cards and EIA Oil Prices

Posted on October 8, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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The Centers for Disease Control and Prevention will no longer print or issue COVID-19 vaccination cards, the agency said in guidance updated this week. The agency also said it does not maintain vaccination records. According to the CDC, your state health department immunization information system can provide you a digital or paper copy of your full vaccination record, including your COVID-19 vaccinations, but cannot issue you a new vaccination card.

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The more than 6 million-barrel weekly rise in U.S. gasoline supplies reported by the Energy Information Administration wasn’t just a surprise, but the strongest sign yet that prices for oil and its products have reached the breaking point for consumers.

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DAILY UPDATE: Strong Stock Index at Week’s End

Posted on October 7, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Here is where the major benchmarks ended this week:

The S&P 500 Index rose 50 points (1.2%) to 4,308.52 and gained 0.5% for the week; the Dow Jones Industrial Average (DJI) was up 288 points (0.87%) at 33,407.58 but was down 0.3% for the week; the NASDAQ Composite was up 211 points (1.6%) at 13,431.34 and gained 1.6% for the week.
The 10-year Treasury note yield was up eight basis points at 4.788%.
CBOEs Volatility Index (VIX) fell one point to 17.47.

Energy shares were among the market’s strongest sectors behind a rebound in crude oil futures, though oil prices still ended down more than 8% for the week. Technology and industrial stocks were also strong.

Small-caps joined the upswing as the Russell 2000 Index (RUT) gained over 1% Friday but still ended the week with a loss of nearly 2%.

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DAILY UPDATE: Just the Down Markets

Posted on October 5, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Here is where the major benchmarks ended Thursday:

The S&P 500^® Index (SPX) was down 5.56 points (0.1.%) at 4,258.19; the Dow Jones Industrial Average (DJI) was down 9.98 points at 33,119.57; the ASDAQ Composite (COMP)was down 16.18 points (0.1%) at 13,219.83.
The 10-year Treasury note yield (TNX) was down about 2 basis points at 4.716%.
CBOE’s Volatility Index (VIX) was down 0.14 at 18.44.

Consumer staples and retail shares were among the market’s weakest sectors Thursday. Energy shares were also under pressure as WTI crude oil futures extended a sharp selloff, sinking more than 2% to a five-week low. Since topping $95 a week ago, oil futures have tumbled 13% amid concerns that global demand may slow.

Financial stocks were among the strongest performers, with the KBW Regional Banking Index (KRX) gaining more than 2%.

***

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DAILY UPDATE: Medicare Drug Price Negotiations as the Markets DROP

Posted on October 4, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

President Joe Biden announced yesterday that the manufacturers of all of the first 10 prescription drugs selected for Medicare’s first price negotiations have agreed to participate, clearing the way for talks that could lower their costs in coming years and give him a potential political win heading into next year’s election.

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Wall Street SANK Tuesday as it focuses on the downside of a surprisingly strong job market. The S&P 500 was 1.5% lower in late trading and nearly back to where it was in May. The Dow Jones Industrial Average was down 475 points, or 1.4%, at 32,957 and wiped out the last of its gains made for the year so far. The NASDAQ composite was leading the market lower with a 2% drop as Big Tech stocks were among the market’s biggest losers.

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The 16-year high on 10-year yields is probably the biggest factor weighing on equities. So, here is where the major benchmarks ended:

The S&P 500 Index was down 58.94 points (1.4%) at 4,229.45; the Dow Jones Industrial Average was down 430.97 points (1.3%) at 33,002.38; the NASDAQ Composite was down 248.31 points (1.9%) at 13,059.47.
The 10-year Treasury note yield was up about 11 basis points at 4.791%.
CBOE’s Volatility Index was up 2.17 at 19.78.

Energy shares were among the few gainers, as WTI crude oil futures rose for the first time in four sessions after dropping sharply from a 13-month high above $95 a barrel. The U.S. dollar index (DXY) strengthened for a third-straight day, touching its highest level since November, reflecting expectations that rates will remain high.

***

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DAILY UPDATE: Gasoline Prices, Nadella and the Markets

Posted on October 3, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Thecost of oil continues on an upward trend, and Americans are seeing yet another increase in the average cost to fill up at the gasoline pump. The average cost across the nation is up twenty cents per gallon year-over-year, at around $3.88 as of yesterday’s data release.

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Microsoft CEO Satya Nadella said Monday that unfair tactics used by Google led to its dominance as a search engine, tactics that in turn have thwarted his company’s rival program, Bing.

Nadella testified in packed Washington, D.C., courtroom as part of the government’s landmark antitrust trial against Google’s parent company, Alphabet. The Justice Department alleges Google has abused the dominance of its ubiquitous search engine to throttle competition and innovation at the expense of consumers, allegations that echo a similar case brought against Microsoft in the late 1990s.

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Here is where the major benchmarks ended:

The S&P 500 Index^®(SPX) was up 0.34 point at 4,288.39; the Dow Jones Industrial Average was down 74.15 points (0.2%) at 33,433.35; the NASDAQ Composite (COMP) was up 88.45 points (0.7%) at 13,307.77.
The 10-year Treasury note yield was up about 12 basis points at 4.691%.
CBOE’s Volatility Index (VIX) was up 0.07 at 17.59.

Energy stocks were among the market’s weakest performers as crude oil futures dropped for a third-consecutive session to $90 a barrel. Financial shares were also lower, with the KBW Regional Bank Index (KRX) dropping more than 2% to a three-month low. Technology shares were among the few areas of strength.

The U.S. Dollar Index (DXY) strengthened to a 10-month high thanks to expectations that interest rates are likely to remain high for some time.

***

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DAILY UPDATE: The Markets, US Budget and Carmot Therapeutics Mulling IPO?

Posted on October 2, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

The stock markets ended Q3 last week with a whimper despite new data showing that the Fed’s favorite CPI inflation measure cooled in August. September was the worst month of the year for the S&P 500 and the NASDAQ. But Blue Apron soared on the news that it’s being bought by Wonder Group, a food delivery startup helmed by a former Walmart exec.

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America’s debt today stands at $33 trillion, a figure some politicians, finance mavens and everyday citizens find astonishingly high.

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Carmot Therapeutics, which is developing drugs for diabetes and weight-loss, is reportedly mulling an IPO or possible sale to a large pharmaceutical company at a valuation of at least $1B. The biotech company has two injectable GLP-1 drug candidates in Phase 2 development for type 1 and type 2 diabetes, according to the company’s website.

Carmot enlisted JP Morgan and Bank of America as underwriters on an IPO, which could come as early as this year if market conditions are favorable. The company has also received “takeover interest” from large drug makers at a valuation of over $1B, according to a Bloomberg report. Carmot had a post-money valuation of $1.25B following a $150M funding round in May, Bloomberg added.

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DAILY UPDATE: Inflation CPI, Rain, the Shutdown and Torn “Threads”

Posted on October 1, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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CPI: Here’s a breakdown of how different aisles and departments rose over the past 12 months:

Cereals and bakery: increase 6%
Meats, poultry, fish, and eggs: unchanged
Remaining products (ranging from dairy to beverages): increase 0.3% to 4.8%
Food in general is up 4.3%
Food away from home: increase 6.8%
Used cars and trucks fell 1.2% year-over-year, but new cars and trucks rose 0.3%. Those may not seem like much, but a new car still costs an average of more than $48,000 — as of May 2023 only three models were available in the U.S. market for $20,000 or less.
Transportation similarly rose 10.3% over the same period but shelter, which rose 7.3%, “was the largest factor in the monthly increase in the index for all items less food and energy,” according to the August CPI.

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***

Not to put a damper on your Sunday morning (the relentless rain is already doing that to the North East USA), but the government still appears headed for a shutdown. Among the immediate impacts: Many federal employees will be furloughed, the IRS will stop picking up your calls, you won’t be able to get married in DC courts, and most national parks—and their social media handles—will go dark.

And even more rain as New York City was hit with its heaviest rain in decades, which flooded roads and subway stations and delayed air travel. Both the mayor and New York’s governor declared states of emergency as images of the waterlogged city filled social media.

***

It appears that Mark Zuckerberg’s new “Threads” social media platform is struggling with a massive decline. The social media platform called “Threads” was launched by Facebook (now called Meta). The platform is essentially a clone of Elon Musk’s Twitter, which is now called X. Threads struggling to maintain momentum and gain new users.

Among major social platforms, Threads is reportedly only ahead of Tumblr in the race for user acquisition. Forecasts by Insider Intelligence predict a U.S. user base of 23.7 million for Threads in 2023. The company reportedly anticipated 56.1 million U.S. users. In comparison, X has roughly 528.3 million monthly users.

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Filed under: "Ask-an-Advisor", Accounting, Alerts Sign-Up, iMBA, Inc., Information Technology, Investing, LifeStyle, Research & Development, Taxation | Tagged: beverages, CBOE, cereals, Consumer Price Index, CPI, DJIA, DOW, Facebook, flooding, food, Government Shutdown, houses, inflation, IRS, meats, Meta, musk, NSDAQ, poultry, rain, Russell 2000, S&P 500, Threads, transportation, tumblr, twitter, used cars, VIX, weather, x, Zuckerberg | 1 Comment »

DAILY UPDATE: Major Stock Markets

Posted on September 30, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

***

***

Here is where the major benchmarks ended today:

The S&P 500 Index was down 11.65 points (0.3%) at 4,288.05, down 0.7% for the week; the Dow Jones Industrial Average (DJIA) was down 158.84 points (0.5%) at 33,507.50, down 1.3% for the week; the NASDAQ Composite (COMP) was up 18.05 points (0.1%) at 13,219.32, up slightly for the week but down 5.8% for the month.
The 10-year Treasury note yield (TNX) was down about 1 basis point at 4.583%.
CBOE’s Volatility Index (VIX) was up 0.18 at 17.52.

Energy stocks were among the market’s weakest performers as crude oil futures extended a pullback from a rally earlier in the week that sent prices to 13-month highs above $93 a barrel.

Health care and financial sectors were also soft. Regional banks, retailers, and consumer discretionary shares were among the strongest performers.

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

***

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Filed under: "Ask-an-Advisor", Alerts Sign-Up, Financial Planning, Funding Basics, iMBA, Inc., Investing | Tagged: CBOE, DJIA, DOW, Energy stocks, financial stocks, healthcare, healthcare stocks, NASDAQ, S&P 500, VIX | Leave a comment »

DAILY UPDATE: Just About the Stock Markets

Posted on September 29, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

***

***

The Stock Markets are bouncing back after days of pronounced volatility, aided by the slowdown in Treasury yields and Thursday’s dip in the value of the dollar. Newly released data confirmed that U.S. economic growth was at an annualized rate of 2.1% in Q2, while initial jobless claims have held near their over-eight-month low, defying expectations of a more significant increase.

The surge in risk appetite is fueling solid gains in tech stocks and Bitcoin (CRYPTO: BTC) during the trading sessions. The cryptocurrency has gained 2.9% by midday, marking its strongest session in September.

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

***

Here is where the major benchmarks ended:

The S&P 500 Index was up 25.19 points (0.6%) at 4,299.70; the Dow Jones Industrial Average (DJIA) was up 116.07 points (0.4%) at 33,666.34; the NASDAQ Composite was up 108.43 points (0.8%) at 13,201.28.
The 10-year Treasury note yield (TNX) was down about 5 basis points at 4.577%.
CBOE’s Volatility Index (VIX) was down 0.88 at 17.34.

Crude oil futures,meanwhile, retreated from 13-month highs to fall more than 2% to less than $92 a barrel.

***

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***

Filed under: "Ask-an-Advisor", Alerts Sign-Up, Investing | Tagged: Bitcoin, CBOE, crude oil futures, crypto, cryptocurrency, DJIA, DOW, NSDAQ, oil, Russell 2000, S&P 500, VIX | Leave a comment »

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Be alert and ready for the S&P 500 to crash by 50%, house prices to slide, and a recession to strike, Jeremy Grantham says.

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