BOARD CERTIFICATION EXAM STUDY GUIDES Lower Extremity Trauma
[Click on Image to Enlarge]
ME-P Free Advertising Consultation
The “Medical Executive-Post” is about connecting doctors, health care executives and modern consulting advisors. It’s about free-enterprise, business, practice, policy, personal financial planning and wealth building capitalism. We have an attitude that’s independent, outspoken, intelligent and so Next-Gen; often edgy, usually controversial. And, our consultants “got fly”, just like U. Read it! Write it! Post it! “Medical Executive-Post”. Call or email us for your FREE advertising and sales consultation TODAY [678.779.8597] Email: MarcinkoAdvisors@outlook.com
Medical & Surgical e-Consent Forms
ePodiatryConsentForms.com
iMBA Inc., OFFICES
Suite #5901 Wilbanks Drive, Norcross, Georgia, 30092 USA [1.678.779.8597]. Our location is real and we are now virtually enabled to assist new long distance clients and out-of-town colleagues.
ME-P Publishing
SEEKING INDUSTRY INFO PARTNERS?
If you want the opportunity to work with leading health care industry insiders, innovators and watchers, the “ME-P” may be right for you? We are unbiased and operate at the nexus of theoretical and applied R&D. Collaborate with us and you’ll put your brand in front of a smart & tightly focused demographic; one at the forefront of our emerging healthcare free marketplace of informed and professional “movers and shakers.” Our Ad Rate Card is available upon request [678-779-8597].
Posted on May 21, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
***
***
Mark Zuckerberg andInstagram is planning to throw its square-shaped hat in the ring to become the next Twitter with a text-based app it’s secretly been testing out with celebrities, influencers, and creators, Bloomberg reported. Meta reportedly plans to release the competitor to Elon Musk’s app this summer and may eventually allow it to sync up with other contenders for Twitter’s crown, like Mastodon.
Morgan Stanley CEO James Gorman said he plans to step down within the next year and move to an executive chair role. He’s led the investment bank since 2009 and is credited with growing its wealth management business.
Posted on May 20, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
***
***
Regional bank stocks slid again on Friday on fears that more banks might fail or need intervention from the government. The KBW Regional Bank index fell by nearly 3% from rumors that Treasury Secretary Janet Yellen said additional bank consolidations might need to occur, according to a CNN report.
***
Yesterday, stocks turn south after Republicans walked out on debt ceiling talks, but the S&P 500 and NASDAQ are still higher for the week. In summary:
The Dow Jones Industrial Average fell 109.28 points, or 0.3%, to close at 33,426.63.
The S&P 500 fell 6.1 points, or 0.1%, to finish at 4,191.98.
The NASDAQ Composite dropped 30.94 points, or 0.2%, to end at 12,657.90.
All three major indexes booked weekly gains, with the Dow rising 0.4% to snap two straight weeks of losses. The S&P 500 saw a 1.6% gain for the week, also snapping back-to-back weekly losses; the NASDAQ rose 3% in a fourth straight week of gains for its longest winning streak since the week ending Feb. 3rd, according to Dow Jones Market Data.
Posted on May 18, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
***
***
Elizabeth Holmes has been ordered to report to prison on May 30th after an appeals court denied her bid to stay out of jail while she challenges her conviction for defrauding Theranos’s investors.
***
Here is where the major benchmarks ended yesterday:
The S&P 500® Index was up 48.87 points (1.2%) at 4158.77; the Dow Jones industrial average was up 408.63 (1.2%) at 33,420.77; the NASDAQ Composite was up 157.51 (1.3%) at 12,500.57.
The 10-year Treasury yield was up about 3 basis point at 3.577%.
CBOE’s Volatility Index was down 1.11 at 16.88.
Financials were among the strongest performers, with the KBW Regional Banking index soaring over 7%. Semiconductors also climbed and oilfield services companies gained as crude oil futures surged nearly 3%. Utility stocks were among the laggards.
Posted on May 17, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
***
***
The Federal Trade Commission said on Tuesday [yesterday] it will try to block an effort by bio-pharmaceutical leader Amgen Inc. from purchasing Horizon Therapeutics for $28.3 billion, charging the move could force insurance companies to favor their products. The FTC said the coupling of Amgen and Horizon could have allowed Amgen to leverage its portfolio of top-selling drugs to entrench a monopoly position in treatments for thyroid eye disease and chronic refractory gout. The watchdog agency said Amgen could force insurance companies and pharmacy benefit managers, or PBMs, into favoring Horizon’s two monopoly products. It said Tepezza is used to treat thyroid eye disease, while Krystexxa is used to treat chronic refractory gout. The agency said neither of the treatments has competition in the pharmaceutical marketplace.
And, the CME FedWatch Tool shows an 82% probability of the Fed leaving rates where they are, versus an 18% chance of another rate hike. As for rate cuts, Liz Ann Sonders of Schwab said they remain unlikely “unless the banking crisis significantly worsens and/or the economy or labor market sinks notably.” “Otherwise, the most likely outcome is for the Fed to pause and hold,” she added.
***
So, here is where the major benchmarks ended yesterday:
The S&P 500® Index was down 26.38 points (0.64%) at 4,109.90; the Dow Jones Industrial Average was down 336.46 (1.01%) at 33,012.14; the NASDAQ Composite was down 22.16 (0.18%) at 12,343.05.
The 10-year Treasury yield was up about 4 basis points at 3.541%.
CBOE’s Volatility Index was up 90 basis points at 18.02.
The energy sector was one of the weakest performers Tuesday, as WTI Crude Oil futures dipped. The Dow Jones U.S. Oil & Gas Total Stock Market Index was down more than 2%, while the S&P Global Oil Index shed 2.5%. Real estate and utilities also lagged. Communication services and tech were the strongest performers.
Posted on May 16, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
***
***
The executive branch of the European Union said Monday that Microsoft has offered enough remedies to address antitrust concerns, paving the way for the proposed $69 billion acquisition of gaming giant Activision Blizzard. The acquisition was opposed by rival game developer and PlayStation console maker Sony over fears it would see Microsoft’s Xbox platform push it out of the market. Market regulators globally, meanwhile, expressed concern over whether Microsoft would come to dominate the cloud-gaming market through the acquisition. On Monday, however, the European Commission, the executive arm of the EU, said Microsoft had done enough to allay concerns on cloud gaming specifically to warrant a positive decision on the merger.
***
Here is where the major benchmarks ended [yesterday] Monday:
The S&P 500 Index was up 12.20 points (0.30%) at 4,136.28; the Dow Jones Industrial Average was up 47.98 (0.14%) at 33,348.60; the NASDAQ Composite was up 80.47 (0.66%) at 12,365.21.
The 10-year Treasury yield was up 3 basis points at 3.50%.
CBOE’s Volatility Index was up 17 basis points at 17.20.
Financial companies were among the leaders Monday, with regional lenders Citizens Bank (CFG), PacWest Bancorp (PACW), Western Alliance (WAL), and Zions Bancorporation (ZION) all bouncing higher after a punishing stretch for the banks last week. The materials and technology sectors were also up, while utilities and real estate lagged.
Posted on May 13, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
***
***
Here is where the major benchmarks ended this week:
The S&P 500 Index was down 6.54 points (0.2%) at 4124.08; the Dow Jones industrial average was down 8.89 at 33,300.62; the NASDAQ Composite was down 43.76 (0.4%) at 12,284.74.
The 10-year Treasury yield was up about 7 basis points at 3.464%.
CBOE’s Volatility Index was up 0.10 at 17.03.
Consumer Discretionary Socks led the declines Friday among S&P 500 sectors, with financials and energy shares also weaker. Worries over the potential for more trouble in the banking sector helped send the KBW Regional Bank Index to its lowest close since late 2020. Utilities and Consumer Staples were among the stronger performers.
Jerome Powell May Get a New No. 2. President Biden said yesterday that he would nominate economist Philip Jefferson, who is already on the Fed’s board, to become second-in-command at the central bank, replacing Lael Brainard. He also plans to nominate the current US rep to the World Bank, Adriana Kugler, to an empty board seat. She would be the Fed’s first Latina governor. If confirmed by the Senate, the pair will jump into their new roles as the Fed continues to try to curb inflation without tipping the economy into a recession.
Posted on May 12, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
***
***
Here is where the major benchmarks ended:
The S&P 500® Index was down 7.02 points (0.2%) 4130.62; the Dow Jones industrial average was down 221.82 (0.7%) at 33,309.51; the NASDAQ Composite was up 22.06 (0.2%) at 12,328.51.
The 10-year Treasury yield was down about 5 basis points at 3.382%.
CBOE’s Volatility Index was down 0.03 at 16.91.
Financial companies were among the weakest performers Thursday, with the KBW Regional Bank Index dropping for a fourth straight day and ending near a 2½-year low. Energy shares were also under pressure with crude oil futures down more than 1%. Consumer Staples and Consumer Discretionary were among the few sectors posting gains. The U.S. dollar index jumped to its highest level in over a week.
Earnings roundup
The following companies reported results over the past day or had large, news-driven stock price moves:
Disney reported earnings of 93 cents per share, which met expectations, and better-than-expected revenue of $21.82 billion, but the drop in streaming subscribers alarmed investors. Subscriptions for the Disney+ streaming service totaled 157.8 million, down 2% from the end of 2022 and below expectations of closer to 163.2 million. This decline overshadowed a 17% jump in revenue from Disney parks. The company’s shares fell more than 8% to near a two-month low.
Alphabet (GOOGL) shares rose over 4% after the Google parent introduced several new artificial intelligence-driven tools at a developers’ conference, according to reports.
Beyond Meat (BYND) reported an expected net quarterly loss of 92 cents per share, an improvement from the $1.58 per share loss a year earlier. But shares of the plant-based meat producer were down about 18% after the company also said it would sell up to $200 million of common stock.
Peloton (PTON) shares fell more than 8% following reports the U.S. Consumer Product Safety Commission said it was recalling more than 2 million bikes over concerns about seat breakages and related injuries. Peloton will offer free, updated seat posts to anyone using the recalled model.
Robinhood (HOOD) reported a net loss of 45 cents per share, better than Wall Street expectations for a loss of about 61 cents per share, as well as stronger than expected revenue. Monthly active users rose 3.5% compared to the previous quarter, to 11.8 million. Shares of the broker rose more than 6%.
Trade Desk (TTD)reported net earnings 2 cents per share, compared with a loss of 3 cents per share a year earlier and above Wall Street expectations. Shares ofthe advertising technology company were down more than 1%.
Earnings reports taper off Friday, with a little over 100 companies expected to report, according to Nasdaq. Next week will also be relatively earnings-light, though several major retailers, including Target Corp. (TGT) on May 17 and Wal-Mart Inc. (WMT) on May 18, are on tap to announce results. Kohl’s Corp. (KSS) is scheduled to report results May 24.
Posted on May 11, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
***
***
Because the inflation data came in roughly as expected, Wall Street sees the door still open for the Federal Reserve to leave interest rates alone at its next meeting in June. That would be the first time it hasn’t raised rates at a meeting in more than a year, and a pause would offer some breathing room for the economy and financial markets.
Today is the last day of the US Covid-19 public health emergency, which has been in place since Jan. 31st, 2020. With it comes the end of certain Covid-era rules, though some telehealth protections have been extended through the end of 2024. Here’s to all the medical professionals who got us through, and a remembrance for the millions who lost their lives to Covid.
***
Brightline, a California-based mental health startup, laid off 20% of its staff this week following a data breach. North Carolina is the latest state to consider changes to the prior authorization process that advocates say delays care. A board member at Geisinger claims that consolidation prompted the healthcare provider to sell to Kaiser Permanente. Texas Gov. Greg Abbottsaid the state should address mental health issues in the wake of a shopping mall mass shooting, but did not call for gun control reform.
Finally, here is where the major benchmarks ended yesterday:
The S&P 500 Index was up 18.47 points (0.5%) at 4137.64; the Dow Jones industrial average was down 30.48 (0.1%) at 33,531.33; the NASDAQ Composite was up 126.89 (1.0%) at 12,306.44.
The 10-year Treasury yield was down about 8 basis points at 3.441%.
CBOE’s Volatility Index was down 0.80 at 16.91.
Oilfield services providers and other energy companies were among the laggards Wednesday, pressured by a more-than 1% drop in WTI crude oil futures.
Financial sector stocks struggling to escape the effects of the bank volatility earlier this spring helped push the KWB Regional Bank Index back near a 2½-year low reached last week.
The S&P 500® Index was down 18.95 points (0.5%) 4119.17; the Dow Jones industrial average was down 56.88 (0.2%) at 33,561.81; the NASDAQ Composite was down 77.36 (0.6%) at 12,179.55.
The 10-year Treasury yield was up about 1 basis point at 3.53%.
CBOE’s Volatility Index was up 0.66 at 17.64.
Semiconductor stocks and other technology shares were among the weakest performers Tuesday, with materials and health care also slightly lower.
Energy companies including oil field services providers were among the strongest, as WTI crude oil futures rose for a fourth consecutive day to their highest level since May 1st.
Posted on May 9, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
***
***
It’s National Nurses Week and National Student Nurses Day. We at the ME-P salute all the nurses (and future nurses) who read and inform our stories, and all of those who’ve been on the front-lines of the pandemic. We hope you take some time to kick back or at least slip into some comfortable shoes.
The S&P 500® Index was up 1.87 points at 4138.12; the Dow Jones industrial average was down 55.69 (0.2%) at 33,618.69; the NASDAQ Composite was up 21.50 (0.2%) at 12,256.92.
The 10-year Treasury yield was up about 7 basis points at 3.515%.
CBOEs Volatility Index was down 0.2 at 16.99.
Among S&P 500 sectors, financial and energy companies were top gainers, with the latter getting some help from a more than 2% rally in WTI crude oil futures.
Transportation, utility and industrial stocks were among the weakest performers, and the Russell 2000 was down about 0.3%, reflecting continued weakness in small-caps.
Posted on May 8, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
***
***
The S&P 500 and the Dow are coming off their worst weeks since March. And even with the Fed signaling the end of interest rate hikes, analysts don’t expect the market to perk up all of a sudden. Goldman Sachs, Bank of America, and Morgan Stanley predict the S&P will end the year lower than its current level. US oil prices, meanwhile, have fallen for three consecutive weeks over economic concerns.
***
We mentioned the annual “Woodstock for Capitalists” meeting last week on this ME-P. Here are the highlights.
On the regional banking crisis: W. Buffett bashed leaders at the banks that failed this spring (First Republic, SVB, etc.), saying they “should suffer” and face “punishment.” But he also blamed the “totally crazy” bank regulations that incentivize bad behavior and “very poor” messaging around the debacle from politicians and the media. Buffett thinks the government was right to intervene to protect SVB depositors, claiming, “It would have been catastrophic” otherwise.
On the status of the dollar: “We are the reserve currency. I see no option for any other currency to be the reserve currency,” Buffett said. He called the notion of bitcoin or other tokens dethroning the dollar a “joke.”
On Berkshire’s investment in Apple: The value of Berkshire’s stake in Apple has ballooned to $151 billion, amounting to nearly half the value of its entire stock portfolio. “It just happens to be a better business than any we own,” Buffett said.
***
US ends Covid-19 public health emergency: Like Title 42, the US public health emergency for Covid-19 will end on this Thursday. That may limit access to testing for millions of Americans, but it won’t affect the availability of treatments and vaccines.
Posted on May 7, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
***
***
Treasury Secretary Janet Yellen warned this week that the government could run out of cash to cover its expenses as early as June 1st. Congress can avert the looming economic catastrophe by authorizing more government borrowing so the US can keep paying its bills and avoid an unprecedented default on its financial obligations.
But with the deadline just weeks away, lawmakers are locked in a game of chicken.
Republicans in Congress say they won’t increase the debt limit without budget cuts. Last month, the GOP-controlled House passed a bill that would lift the borrowing cap and slash government spending by around $3.2 trillion over 10 years.
But that bill is DOA in the Democrat-led Senate. Democrats insist the debt limit should be raised with no strings attached.
If the US does run out of money…look out. The Treasury would have a range of extremely bad to absolutely terrible belt-tightening options, including delaying payments to federal contractors and Social Security recipients, all to avoid falling behind on interest payments for Treasury bonds.
Posted on May 6, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
***
***
Dr. Rochelle Walensky, the head of the Centers for Disease Control and Prevention, submitted her resignation yesterday, saying the waning of the COVID-19 pandemic was a good time to make a transition.
***
The World Health Organization just reported that COVID-19 no longer qualifies as a global emergency, marking a symbolic end to the devastating coronavirus pandemic that triggered once-unthinkable lock-downs, upended economies and killed millions of people worldwide.
***
Here’s where the major indexes ended:
The S&P 500® Index was up 75.03 points (1.9%) at 4136.25; the Dow Jones industrial average was up 546.64 (1.7%) at 33,674.38; the NASDAQ Composite was up 269.01 (2.3%) at 12,235.41.
The 10-year Treasury yield was up about 8 basis points at 3.431%.
CBOE’s Volatility Index was down 2.89 at 17.20.
Financial shares were a bright spot Friday, with the KBW Regional Banking Index up over 4% after sinking near a 2½-year low Thursday. Energy stocks were also strong as crude oil futures rallied over 4% and pushed back above $70 a barrel. Small-cap stocks also gained, with the Russell 2000 up more than 2%.
***
* UNC Health might be able to expand its footprint faster, pending state approval. * A new chatbot called Pi is helping people with their emotional well-being. * The FDA approved the first RSV vaccine, which comes from GSK.
Posted on May 5, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
***
***
Happy Cinco de Mayo. The holiday commemorates the defeat of French forces by the Mexican army at the Battle of Puebla in 1862, but its popularity jumped in the 1980s when beer companies began to leverage Cinco de Mayo in marketing campaigns.
***
The antitrust watchdogs at the Federal Trade Commission (FTC) just tore into Facebook saying the agency has caught the social media giant violating kids’ data privacy for profit — for the third time. Now the FTC has had enough. In a new proposal to protect kids, the agency wants to ban the platform from ever monetizing youth data again. In a ferocious rebuke, the FTC said Facebook defied its direct order to protect kids’ online privacy and broke the promise the company made in a 2019 consent order when it was forced to pay a $5 billion penalty for violating a 2012 order.
***
Here’s where the major indexes ended:
The S&P 500 Index was down 29.53 points (0.7%) at 4061.22; the Dow Jones industrial average was down 286.50 (0.9%) at 33,127.74; the NASDAQ Composite was down 58.93 (0.5%) at 11,966.40.
The 10-year Treasury yield was down about 4 basis points at 3.364%.
CBOE’s Volatility Index was up 1.74 at 20.08.
Financial stocks led the market’s declines, with the KBW Regional Banking index sinking nearly 3% to its lowest level since November 2020. Transportation stocks were also under pressure as banking sector troubles exacerbated recession concerns. Crude oil futures initially extended this week’s slump, dropping under $64 a barrel to a 17-month low before rebounding.
Posted on May 4, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
MAY THE FOURTH BE WITH YOU
***
***
Many pharma companies reported earnings in the last week, and the common thread is crashing Covid-related sales.
For example, AstraZeneca’s Covid medication sales dropped $1.5b in Q1, Merck’s Covid antiviral sales fell 88% from the same quarter in 2022, and Roche’s diagnostics division sales fell 28% from Q1 2022, thanks to low Covid-test demand. Clearly, pharma companies have to figure out how to pivot their strategies in a post-Covid world.
The CDCwill not continue to track Covid-19 community spread as the country enters the endemic stage of the pandemic.
***
The Food and Drug Administration approved Wednesday the first-ever vaccine to combat severe respiratory syncytial virus, or RSV. Arexvy, the new vaccine developed by GlaxoSmithKline, was approved for adults 60 and older and was 82% effective at preventing lower respiratory tract illness caused by RSV, according to trial data. It was also 94% effective in those who had at least one underlying medical condition.
***
The Federal Reserve voted unanimously to raise interest rates by a quarter point yesterday, the tenth rate hike since the central bank started its battle against inflation last March. The move comes amid ongoing fragility in the banking sector triggered partly by higher interest rates, and following the collapse of three regional banks. Markets had anticipated the rate hike, and remained fairly muted after the Fed’s announcement.
***
Finally, here’s where the major indexes ended up:
The S&P 500® Index was down 28.83 points at 4090.75; the Dow Jones industrial average was down 270.29 (0.8%) at 33,414.24; the NASDAQ Composite was down 55.18 (0.5%) at 12,025.33.
The 10-year Treasury yield was down about 7 basis points at 3.367%.
CBOE’s Volatility Index was up 0.52 at 18.30.
Energy companies were among the market’s weakest performers as crude oil continued a recent decline, with WTI crude futures falling more than 4% under $70 a barrel—a nearly six-week low.
Semiconductor and financial shares were also weak. The U.S. dollar index dropped sharply in the wake of the Fed announcement before rebounding.
Posted on May 3, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
***
***
Markets: The relative calm after JPMorgan scooped up First Republic Bank lasted all of…one day. Two other West Coast lenders, PacificWest and Western Alliance, both tumbled in a sign investors still smell blood among regional banks.
Economy: Happy Fed Decision Day to all who celebrate. With inflation sizzling at still-uncomfortably high levels, Chair Jerome Powell is expected to announce the central bank’s 10th straight interest rate hike this afternoon. But many economists expect this rate increase could be the grand finale.
Layoffs jump to the highest level since late 2020. The number of job openings in the US dropped to a nearly two-year low in March, and layoffs increased to their highest point since December 2020, the Labor Department revealed yesterday. In this “bad news is good news” economic environment, the Fed will be pleased that the boiling-hot labor market is cooling off. It means less pressure on inflation and more justification to pause hiking rates.
Posted on May 3, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
***
***
Here’s where the key indexes settled yesterday.
The S&P 500® Index was down 48.29 points (1.2%) at 4119.58; the Dow Jones industrial average was down 367.17 (1.1%) at 33,684.53; the NASDAQ Composite was down 132.09 (1.1%) at 12,080.51.
The 10-year Treasury yield was down about 15 basis points at 3.428%.
CBOE’s Volatility Index was up 1.67 at 17.77.
Regional banks led the declines, with the KBW Regional Banking index sinking more than 5% to its lowest level since late 2020.
Energy stocks were also weaker as crude oil futures extended a slide, dropping under $72 a barrel to their lowest level in more than five weeks. Small-caps also slumped, with the Russell 2000 index down 2%.
***
More specifically, ahead of the Federal Reserve’s latest policy decision and fresh earnings results:
By 6:45pm ET (10:45pm GMT) Dow Jones Futures were flat while S&P 500 Futures and NASDAQ 100 Futures eased 0.1% apiece.
In extended deals, Advanced Micro Devices Inc (NASDAQ:AMD) fell 6.5% after reporting Q1 EPS of $0.60 versus $0.56 expected on revenues of $5.4 billion versus $5.3 billion expected. Looking ahead, the company forcasted Q2 2023 revenue in the range of $5-5.6 billion versus $5.49 billion expected.
Ford Motor (NYSE:F) slipped 1.6% after the company reported Q1 EPS of $0.63, beating expectations of $0.42,ewhile revenue was reported at $39.1 billion versus $37.4 billion expected.
Sprout Social (NASDAQ:SPT) dipped 17.4%, reporting Q1 EPS of $0.06, beating expected losses of $0.01 per share, while revenue came in at $75.2 million versus $75.07 million expected.
Posted on May 2, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
***
***
Companies, mostly in tech and media, have laid off thousands of employees, so far this year. For example:
Amazon announced in early January that it’s eliminating 18,000 roles in total, including layoffs that were announced in November 2022. The company announced last month that it was laying off an additional 9,000 people.
Payments company PayPal is cutting 7% of its staff, which amounts to about 2,000 employees, President and CEO Dan Schulman said on Jan. 31st.
E-commerce company eBay announced in an SEC filing on Feb. 7 that it’s laying off 500 people, or 4% of its workforce.
And, Jenny Craig is saddled with $250 million in debt and has been looking for a buyer, Bloomberg Law reported in March. The weight loss industry is going through changes, as the obesity drug business has exploded in popularity. The medications, which mimic hormones found in the body to support weight loss, have recently grown in popularity thanks to reported use by celebrities and posts from everyday people on social media about successful weight loss.
Finally, General Motors terminated “several hundred” contract employees who worked at its Global Technical Center in Warren, Michigan, and other locations this weekend in its bid to shave $2 billion from its budget by the end of next year. The cuts come nearly a month after 5,000 salaried employees agreed to a voluntary separation package that GM said would help it achieve close to 50% of its cost-cutting target this year alone and prevent further involuntary cuts.
***
Happy Tuesday! Today marks the first day of Mental Health Awareness Month. One in five US adults experiences mental illness each year, but fewer than half of them get care, according to the National Alliance on Mental Illness.
The MARKETS
The S&P 500® Index was down 1.61 points at 4167.87; the Dow Jones industrial average was down 46.46 (0.1%) at 34,051.70; the NASDAQ Composite was down 13.99 (0.1%) at 12,212.60.
The 10-year Treasury yield was up about 13 basis points at 3.585%.
Posted on May 1, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
***
By Staff Reporters
***
According to Wikipedia, May Day is a European festival of ancient origins marking the beginning of summer, usually celebrated on 1 May, around halfway between the spring equinox and summer solstice. Festivities may also be held the night before, known as May Eve.
But in 1889, it was chosen as the date for International Workers’ Day by the Second International, to commemorate the Haymarket affair in Chicago and the struggle for an eight-hour working day. As a result, International Workers’ Day is also called “May Day”, but the two are unrelated.
Posted on April 30, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
***
***
Eli Lilly (NYSE: LLY) investors continued to be in a good mood about their stock on Friday. Following the estimates-beating first quarter reported by the big pharmaceutical company the previous morning, they traded the shares up by 1.4% on the final trading day of the week. That eclipsed the 0.8% gain of the S&P 500 index.
Researchers at MIT have created a new type of tabletop printer that spits out vaccine doses on demand in the form of thumbnail-size microneedle patches. Once scaled, this mobile technology could produce hundreds of doses per day, revolutionizing pandemic response. And in a boon for warmer or more remote parts of the world, the vaccine patches can be stored at room temperature for months before they’re slapped on—no refrigeration or professional administering required.
Posted on April 29, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
***
***
Compensation pay for US workers picked up in the first three months of the year, showing that a major source of inflationary pressure persists and cementing the path for an interest rate hike at the Federal Reserve’s meeting next week. The Employment Cost Index, released Friday by the Bureau of Labor Statistics, showed that workers were paid 1.2% more in wages and benefits in the first quarter from the prior three-month period. That’s up from analysts’ expectations of 1.1%.
Markets: Stocks rose yesterday, finishing strong to give the Dow its best month since January. But First Republic Bank tanked again as rumors flew about its fate, again.
Economy: For all the Fed watchers, new data released makes it look like another rate hike could be in store next week. The data shows wages are still trending upward, and one of the Fed’s favorite inflation measures rose slightly last month.
Here’s where markets ended.
The S&P 500 Index was up 34.13 (0.8%) at 4169.48, a nearly three-month high; the Dow Jones industrial average was up 272.00 (0.8%) at 34,098.16; the NASDAQ Composite was up 84.35 (0.7%) at (12,226.58.
The 10-year Treasury yield was down about 9 basis points at 3.437%.
CBOE’s Volatility Index was down 1.27 at 15.76.
Energy companies were among the strongest sectors today with help from a rally in crude oil futures. Transportation and financial stocks were also strong. Utilities and consumer discretionary sectors were among the weakest sectors.
Posted on April 28, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
***
***
Economy: The US economy entered a 12 mph zone last quarter, slowing to an annual growth rate of 1.1% (short of estimates). While the growth figures were discouraging and a consequence of the Fed’s interest rate hikes, economists found some bright spots! It seems that consumers won’t stop shopping, resulting in a 3.7% increase in consumer spending. Still, some are waiting on that recession?
***
So – Here’s where the key indexes settled yesterday.
The S&P 500 Index was up 79.36 (2%) at 4135.35; the Dow Jones industrial average was up 524.29 (1.6%) at 33,826.16; the NASDAQ Composite was up 287.89 (2.4%) at 12,142.24.
The 10-year Treasury yield was up about 9 basis points at 3.524%.
CBOE’s Volatility Index was down 1.90 at 16.94.
Small-cap companies, which tend to struggle more when economic growth stalls, remained at the back of the pack, with the Russell 2000 up slightly over 1%.
The energy sector continued to rank among the weakest-performing sectors, as crude oil futures continued trading near lows for the month.
Treasury yields jumped to one-week highs after the first-quarter gross domestic product (GDP) report showed inflation remained elevated.
Posted on April 27, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
***
***
The two tech giants posted earnings that showed they’re both on solid footing, despite investors’ concerns that growth would slow to a trickle. For Alphabet, Google search advertising revenue grew again after a quarter in the red. And Microsoft’s all-important cloud division posted better-than-expected sales. Both companies stated AI could impact their businesses, but they differed in their predictions: Microsoft characterized AI as a much more disruptive force than Google did.
Get ready for earnings calls from pharmaceutical companies: Eli Lilly, AstraZeneca, AbbVie, and more quarterly calls this week. Investors will watch AbbVie’s sales numbers, as Amgen introduced the first biosimilar version of AbbVie’s blockbuster arthritis drug, Humira, in January. In its last call, AbbVie executives said they expected to lose $7.9 billion in Humira sales in 2023
The S&P 500 Index was down 15.64 points (0.4%) at 4055.99; the Dow Jones industrial average was down 228.96 (0.7%) at 33,301.87; the NASDAQ Composite was up 55.19 (0.5%) at 11,854.35.
The 10-year Treasury yield was up about 4 basis points at 3.439%.
Posted on April 24, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
***
Moody’s research released on Friday suggests that the industry is experiencing greater instability from several bank failures and high inflation, calling “into question whether some banks’ assumed high stability of deposits and their operational nature, should be reevaluated,”
The Wall Street Journal reported. Six U.S. banks were placed on Moody’s review list in March, per Reuters. All six banks put for review failed and were downgraded with the new study, including Comerica Inc., First Republic Bank, Intrust Financial Corporation, UMB Financial Corp, Western Alliance Bancorp and Zions Bancorporation.
***
Apple’s latest product launch, in partnership with Goldman Sachs, is a savings account that will yield a meaty 4.15% in annual interest just for parking your money in it. The details:
You can open the savings account via the Wallet app on your iPhone, but you’ll need an Apple Card (Apple’s credit card) to be eligible.
No minimum deposit is required, the max balance is $250,000, and all of your funds are FDIC-insured.
Posted on April 23, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reportersand Pet Lovers of America
***
***
Pet Tech CPR Day is celebrated on April 23rd each year, and the name clues us in as to who is responsible for instituting such a day. Pet Tech is an international training organization, which claims to be the first of its kind in providing training for pet C.P.R. and first aid and care.
This day is primarily aimed at dogs and cats, however, perhaps the training might prove useful for other pets too. There is no such thing as wasted knowledge anyway, especially when it comes to health and safety. The purpose of Pet Tech CPR Day is to remind people to stay abreast of, and educated about pet safety. You just never know when the need to save your pet’s life may arise.
Posted on April 22, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
***
***
Earth Day is celebrated on April 22nd annually. The day was born out of a massive oil spill in Santa Barbara, California and carried forward today by the Earth Day Network. Earth day was created to help bring awareness and support for environmental protection around the world. Arbor Day is another popular observance to help the environment by encouraging individuals to plant trees and other plants in an effort to take care of our environment.
LYFT plans to cut 1,200 jobs as the latest cuts could impact 30% or more of its’ 4,000 employees.The company planned to announce the move after a board meeting next week but did so sooner. The cuts could help Lyft slash 50% of its costs as it doesn’t count drivers as employees.
The S&P 500® Index was up 3.73 points at 4133.52; the Dow Jones industrial average was up 22.34 at 33,808.96; the NASDAQ Composite was up 12.90 (0.1%) at 12,072.46.
The 10-year Treasury yield was up about 2 basis points at 3.566%.
CBOE Volatility Index was down 0.44 at 16.73.
Consumer Discretionary and Consumer Staples led gainers among S&P 500 sectors, while energy companies continued to slump in the wake of this week’s sell-off in crude oil prices. The PHLX Oil Service index sank 4% this week and ended at a three-week low. WTI crude futures rose slightly Friday but still dropped almost 6% for the week.
Earnings Round-Up
Major companies reporting quarterly results over the past day included:
Procter & Gamble (PG) reported Earnings Per Share (EPS) of $1.37 per share for the first quarter, about 5 cents above analysts’ forecasts, as well as stronger-than-expected revenue of $20.7 billion. The company also raised its outlook for 2023 organic sales growth to 6% from its earlier forecast of 4% to 5%. Its shares rose more than 3%.
Regions Financial (RF), the latest smaller U.S. bank to report, fell short of EPS forecasts, though revenue met expectations and deposits remained stable. The company’s shares fell about 3%.
CSX Corp. (CSX) reported first-quarter EPS of 48 cents, surpassing analysts’ expectations by about 5 cents, and revenue of $3.71 billion also topped forecasts. The railroad company’s shares rose more than 3%.
Schlumberger (SLB) reported net income of 63 cents per share, beating analysts’ forecasts of 61 cents, as well as higher-than-expected revenue. However, the oilfield service company’s shares more than 4% after suggesting the North American onshore market may plateau this year.
Freeport-McMoRan (FCX) reported a profit of 46 cents per share, which was better than analysts’ were expecting but still down by about half from a year earlier. The company’s mining volumes and supply chains were hampered by extreme weather and protests in Peru. The company’s shares fell more than 4%.
HCA Healthcare (HCA) reported EPS of $4.85, beating expectations by about 70 cents, and raised its earnings and revenue forecasts for the full year. Its shares jumped nearly 4%.
Posted on April 21, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
(Bloomberg) — A US debt default would threaten “a basic anchor” of the global financial system and “must not happen,” BlackRock Inc. Vice Chairman Philipp Hildebrand warned Thursday at the Bloomberg New Economy Gateway Europe forum.
“All we can do is to pray that everyone in the United States understands how important the sanctity of the sovereign signature of the leading currency, of the leading bond market, of the leading economy in the world is,” Hildebrand, a former president of the Swiss central bank, said during an on-stage interview. “This is not something you want to mess with.”
The 10-year Treasury yield hit a four-week high above 3.60% earlier this week, up from a seven-month low of 3.278% on April 4th.
The S&P 500 Index was down 24.73 (0.6%) at 4129.79; the Dow Jones industrial average was down 110.39 (0.3%) at 33,786.62; the NASDAQ Composite was down 97.67 (0.8%) at 12,059.56.
The 10-year Treasury yield was down about 7 basis points at 3.534%.
CBOEs Volatility Index was up 0.73 at 17.19.
Energy companies were among the weakest performers Thursday, as crude oil prices extended this week’s sell-off, with benchmark WTI futures down more than 2% to under $78 per barrel—a low for the month.
The real estate and technology sectors also lagged, while consumer staples and transportation sectors held up better.
Posted on April 20, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
***
***
Meta Platforms, the billionaire’s social media empire, will reportedly cut thousands more jobs. And the bloodbath is not over, according to the latest reports. Meta plans to eliminate thousands more jobs. According to Bloomberg News, an internal memo has been sent to managers, asking them to prepare for tough new announcements. The job cuts, which total 4,000, are expected to affect Facebook, WhatsApp and Instagram. They would also affect Reality Labs, the division that houses the group’s Metaverse projects — Quest virtual-reality headsets. In 2021 and 2022, Reality Labs, which is supposed to build the company’s next big thing, recorded a cumulative loss of nearly $24 billion, including $13.7 billion just last year.
And, Walt Disney Company plans to cut thousands of jobs next week, in another lay-off round that includes about 15% of the staff in its entertainment division, according to people familiar with the plans. Disney Entertainment will bear a significant chunk of the job cuts – with approximately 15% of the division’s staffers set to exit next week, according to a report. Disney has more than 200,000 employees across its various businesses.
***
And now, the Markets:
The S&P 500 Index fell 0.35 point to 4154.52; the Dow Jones industrial average was down 79.62 (0.2%) at 33,897.01; the NASDAQ Composite was up 3.81 at 12,157.23.
The 10-year Treasury yield was up about 2 basis points at 3.60%.
CBOE’s Volatility Index was down 0.37 at 16.46.
Transportation was one of the top gainers among S&P 500 sectors yesterday, thanks in part to strength in United Airlines (UAL) and other top carriers. Real estate and financials were also higher, while oilfield services stocks were among the weakest performers due to a sharp drop in crude oil prices. WTI futures fell below $80, their lowest level in nearly three weeks.
Oil prices rallied at the start of this month after members of OPEC+ announced a production cut.
Posted on April 19, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
***
***
First quarter earnings from big lending institutions painted something of a mixed picture, with Bank of America posting healthy returns as Goldman Sachs on Tuesday saw headwinds from its loan portfolio.
The following is a round-up of yesterday’s market activity:
The S&P 500 Index was up 3.55 points (0.1%) at 4154.87; the Dow Jones industrial average was down 10.55 at 33,976.63; the NASDAQ Composite was down 4.31 at 12,153.41.
The 10-year Treasury yield was down about 2 basis points at 3.574%.
CBOEs Volatility Index was down 0.12 at 16.83.
Small-cap stocks, which tend to suffer more from recession concerns than their large-cap peers, were among the weakest performers with the Russell 2000 falling about 0.4%. Communications services and utilities were laggards among S&P 500 sectors, while industrials and consumer staples were stronger.
Volatility as measured by the VIX continued to drop to the lowest levels since late 2021.
Posted on April 18, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
***
***
Tax deadline — April 18, 2023 — is today.
Did you know that the probability of being audited by the IRS is generally low, with less than 1% of tax returns receiving a second look? The average chance of being audited is 1 in 333, or 0.3%. But, certain factors can increase the likelihood of being audited, such as earning a lot of money or claiming complex deductions.
For example, the audit rate among filers with income of $10 million or more is 6.66%, while the audit rate for filers with incomes between $25,000 and $500,000 is roughly 0.5%. If selected for an audit, the taxpayer must demonstrate that the information on their tax return is correct
***
The following is a round-up of yesterday’s market activity:
The S&P 500 Index was up 13.68 points (0.3%) at 4151.32; the Dow Jones industrial average was up 100.71 (0.3%) at 33,987.18; the NASDAQ Composite was up 34.26 (0.3%) at 12,157.72.
The 10-year Treasury yield was up about 8 basis points at 3.3.60%.
CBOE’s Volatility Index was down 0.13 at 16.94.
Among S&P 500 sectors, real estate stocks led advancers, while financials and industrials were also higher. Small-caps rose, with the Russell 2000 up about 1%. Communication services companies were among the weakest performers, and energy companies slumped as crude oil futures dropped nearly 2%.
The U.S. dollar index strengthened slightly, and equity market volatility remained subdued, with the VIX extending a decline to the lowest levels since late 2021.
The Fed rate hikes that spelled doom for smaller fries like Silicon Valley Bank and Signature Bank were a boon to the big potatoes since they could charge more for loans. With the money they made from lending shooting up, JPMorgan, Citigroup, and Wells Fargo all zoomed past expectations for Q1.
JPMorgan, the biggest of the big, posted record revenues and saw its profits spike to $12.6 billion, 52% more than the same quarter last year.
Citigroup, the third largest US bank, scored $4.6 billion in profit, 7% higher than in Q1 2022.
Wells Fargo, the fourth largest, kept the hot streak going with a 32% increase in profits from the first quarter of ’22 to just under $5 billion.
The banking behemoths have made it through the chaos caused by the biggest bank failures since 2008 not just unscathed but stronger—though there’s some debate over whether they’ll be able to hang on to the many new deposits that came their way as customers fled from regional lenders.
But smaller banks are still struggling. And there were signs the three megabanks weren’t ready to declare total victory: They cautioned that credit is likely about to get more expensive and put aside a combined $2 billion in case a recession hits.
The domestic stock markets owe much of their resilience today to the strength of the biggest companies, which investors tend to favor when recessions appear likely, though financial stocks have lagged most of the year, according to Liz Ann Sonders, chief investment strategist at the Schwab Center for Financial Research. Indeed, small-cap stocks were notable laggards yesterday, with the Russell 2000 index falling more than 1%.
The markets appear convinced the Fed will raise its benchmark interest rate by another quarter of a point in May, taking it to a range of 5%–5.25%, even after the larger-than-expected de-celerations in both consumer and producer prices reported earlier this week.
The following is a round-up of yesterday’s market activity:
The S&P 500 Index was down 8.58 (0.2%) at 4137.64; the Dow Jones industrial average was down 143.22 (0.4%) at 33,886.47; the NASDAQ Composite was down 42.81 (0.4%) at 12,123.47.
The 10-year Treasury yield was up about 6 basis points at 3.515%.
CBOE’s Volatility Index was down 0.73 at 17.07.
Among S&P 500 sectors, real estate and utilities were among the weaker performers yesterday. Notwithstanding the day’s weakness, volatility expectations as measured by the VIX dropped to its lowest level since late 2021.
WTI crude oil futures rose modestly and have surged about 24% over the past four weeks, illustrating still-present inflationary forces.
Posted on April 14, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
***
***
A rally on Wall Street yesterday is lifting stocks to their highest level in almost two months following the latest sign that inflation continues to cool. Yesterday’s report showed that prices paid to producers last month were 2.7% higher than a year earlier, the lowest inflation level there in more than two years. The hope on Wall Street is that easier inflation on the wholesale level will not only support profits for companies but also flow through to cooler inflation for consumers. A day earlier, a separate report said inflation for consumers slowed to 5%.
Inflation and how high the Federal Reserve will hike interest rates to tame it have been at the center of Wall Street’s struggles for more than a year. The Fed has hiked rates at such a feverish pace over the last year that it’s already slowed parts of the economy and caused strains to appear in the banking system.
And so, stocks climbed on the cooler-than-expected PPI, and perhaps some optimism around the Q1 earnings season, with several big banks reporting Friday. However, expectations around Fed policy didn’t budge much.
Bond yields were little changed and markets still see a 70% probability of the Fed enacting a quarter-point rate increase in May, according to the CME FedWatch tool.
The following is a round-up of yesterday’s market activity:
The S&P 500 Index was up 54.27 points (1.3%) at 4146.22; the Dow Jones industrial average was up 383.19 (1.1%) at 34,029.69; the NASDAQ Composite was up 236.93 (2.0%) at 12,166.27.
The 10-year Treasury yield was up about 3 basis points at 3.447%.
Posted on April 13, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
***
Stock share spotlight
Alibaba shares dipped yesterday thanks to China’s efforts to crack down on AI chatbots and fell even further after-hours when the Financial Times reported that SoftBank has sold off most of its stake in the company.
Posted on April 13, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
***
***
The consumer-price index, a closely watched inflation gauge that measures what consumers pay for goods and services, rose 5% last month from a year earlier, down from February’s 6% increase and the smallest gain since May 2021, the Labor Department said yesterday. Earlier, the consumer price index for March came in below expectations, rising 0.1% monthly compared to forecasts for a 0.2% increase. Many other indicators have inflation continuing to fall in the coming months as tightening credit conditions and weaker economic demand take a bite out of economic growth.
The following is a round-up of today’s market activity:
The S&P 500 Index was down 16.99 (0.4%) at 4091.95; the Dow Jones industrial average was down 38.29 (0.1%) at 33,646.50; the NASDAQ Composite was down 102.54 (0.9%) at 11,929.34.
The 10-year Treasury yield was down about 3 basis points at 3.404%.
CBOE’s Volatility Index was down 0.01 at 19.09.
Technology stocks led Wednesday’s declines, with the PHLX semiconductor index sinking 1.8%. Consumer discretionary and transportation were also among the weakest sectors, while oilfield services led gainers as crude oil prices extended a recent rally.
WTI crude futures jumped over 2% above $83 a barrel and ended near a five-month high. Gold futures rose a second straight day and remain above $2,000 an ounce.
Posted on April 12, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
***
***
A closely-watched government measure of inflation is expected to show that price increases cooled further last month. March’s Consumer Price Index (CPI), slated for release today,is expected to come in at5.2%, a slowdown from February’s 6% annual gain, according to estimates from Bloomberg. The number would mark the slowest annual increase in consumer prices since May 2021 but would still be significantly above the Federal Reserve’s 2% target. The Fed has been raising interest rates to try to bring down inflation, but the central bank risks sending the economy into a recession by hiking rates too high too fast.
The following is a round-up of today’s market activity:
The S&P 500® Index was down 0.17 point at 4108.94; the Dow Jones industrial average was up 98.27 (0.3%) at 33,684.79; the NASDAQ Composite was down 52.48 (0.4%) at 12,031.88.
The 10-year Treasury yield was up about 1 basis point at 3.428%.
CBOE’s Volatility Index was up 0.12 at 19.09.
Energy companies led the gainers, with the PHLX Oil Service Index jumping nearly 2% behind strength in crude oil futures, which rallied to their highest levels since late January. The transportation and financial sectors were also strong.
The U.S. dollar weakened slightly, while gold futures climbed nearly 1% to end a three-day tumble.
Posted on April 11, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
***
***
Starwood Capital CEO Barry Sternlicht, who has a net worth of $4.6 billion, says inflation is going to drop—and it’s going to drop hard. In an interview with CNBC’s Squawk Box, Sternlicht was asked what he’d say in response to JPMorgan Chase CEO Jamie Dimon’s annual letter to shareholders, in which Dimon writes that current economic conditions “create more risk and potentially higher inflation,” and higher rate hikes.
However, after saying he’s a big fan of Dimon and that he runs “probably one of the best banks in the world,” Sternlicht clarified to CNBC that “we don’t agree on everything.”
The following is a round-up of yesterday’s market activity:
The S&P 500® Index was up 4.09 (0.1%) at 4109.11; the Dow Jones industrial average was up 101.23 (0.3%) at 33,586.52; the NASDAQ Composite was down 3.6 at 12,084.36.
The 10-year Treasury yield was up about 4 basis points at 3.419%.
CBOEs Volatility Index was up 0.54 at 18.94.
Energy and transportation were the strongest-performing S&P 500 sectors, while communications services was the biggest laggard. WTI crude oil futures fell slightly but remained near two-month highs posted last week.
Gold futures fell sharply for the second session in a row. The U.S. dollar index jumped to its strongest level in nearly two weeks.
Posted on April 10, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
***
***
We trust everyone had a good weekend as Easter, Ramadan, and Passover were all overlapping. This typically happens only three times a century.
So, as investors head back to work after the three-day weekend, today’s stock moves will focus on Friday’s solid jobs numbers. Checking in on the S&P’s 2023 performance suggests that almost 90% of the index’s gains this year is accounted for by just 20 stocks, Nvidia, Apple, and Meta among them, the Financial Times notes.
And, corporate earnings pick back up this week and will influence the direction of the stock market for the next several months. Big banks, including JPMorgan and Citigroup, will drop their Q1 results on Friday, so we’ll learn how the collapse of SVB impacted them.
Finally, even as the US demands ByteDance to sell TikTok, fresh numbers show why it’s determined to hold on. The Chinese tech giant posted record underlying profit last year (EBIDTA) and is now more profitable than fellow Chinese tech giants Alibaba and Tencent, per the Financial Times. ByteDance grew sales 30% in 2022 to $85 billion, and its profits surged 79% to $25 billion. Worth $300 billion last year, ByteDance is the world’s most valuable private company.
Posted on April 8, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
U.S. Department of Labor
By Staff Reporters
It is Easter Weekend Saturday which was a stock market holiday weekend but not a federal holiday. That results in a highly unusual scenario when the government released the pivotal jobs report yesterday. Good Friday, the stock market didn’t open to react to it. Investors will have to spend three days before placing their wagers on Monday.
Nevertheless, the Bureau of Labor Statistics’ (BLS) report yesterday [Friday] was on par with what economists had expected from the jobs market as the Fed hiked interest rates. March saw about 75,000 fewer jobs added to the economy compared with February, which was already a drop compared with the 504,000 jobs that were added in January. The unemployment rate dropped 0.1% to 3.5%. Fewer jobs were added to leisure and hospitality and healthcare than in previous months, though the industries are still trending up in job availability. Government and professional and business services continued to grow at similar paces as previous months. Ahead of the government’s job survey other reports gave hints that the labor market, while still growing, is cooling from highs seen over the last two years. BLS’ Job Openings and Labor Turnover Survey last week showed that employers are starting to slow the pace of hiring. There were less than 10 million active job openings by the end of February for the first time in nearly two years.
Friday’s jobs report provided data that will heavily influence the Fed’s decision to either halt or continue interest rate hikes at its next board meeting in early May.
Posted on April 7, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
***
***
The financial markets will be closed on Friday, April 7th, for Good Friday holiday observation. Most firms will process transaction requests received on April 7th as if received on Monday, April 10, before 4 p.m., Eastern Standard Time. Since it is not a federal holiday, almost everything else will be open. The U.S. bond market will open at its usual 8 a.m. EDT on Friday but close early at noon EDT. Regular hours resume on Monday.
***
Here’s how the major indexes performed Thursday:
•The S&P 500® Index rose 14.64 points (0.4%) to 4105.02; the Dow Jones industrial average was little changed at 33,485.29; the NASDAQ Composite rose 91.09 (0.8%) to 12,087.96.
•The 10-year Treasury yield rose about 2 basis points to 3.305%.
•CBOE’s Volatility Index was down 0.68 at 18.40.
After jumping 7% in the first quarter, the S&P 500 Index started out the second quarter posting a slight drop for the week. Tech stocks were generally firm, and communication services led gainers among S&P 500 sectors, while energy stocks led declines. WTI crude futures were little changed but remained above $80 a barrel and near two-month highs. Gold futures extended Wednesday declines from 13-month highs.
Posted on April 6, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
“Sameach Pesach”
Holy [Maundy] Thursday
By Staff Reporters
***
Markets: The NASDAQ extended its losing streak for a third day yesterday amidst a mixed showing for stocks overall. Among the tech stocks having a rough day was cybersecurity giant Zscaler, as investors got new data suggesting the labor market may be cooling (setting off recession jitters again).
***
This week’s economic numbers “all point to a softening economy,” but not necessarily a “soft landing,” says Kevin Gordon, senior investment strategist at the Schwab Center for Financial Research. An economic slowdown that averts recession “is what the Fed is looking for, but the market is saying today—with both stock prices and bond yields lower—that recession fears are outweighing hopes for a soft landing,” Kevin says.
The S&P 500® Index fell 10.22 points (0.3%) to 4090.38; the Dow Jones industrial average rose 80.34 (0.2%) to 33482.72; the NASDAQ Composite fell 129.47 (1.1%) to 11996.86.
The 10-year Treasury yield fell about 3 basis points to 3.309%.
CBOEs Volatility Index was up 0.12 at 19.12.
Among S&P 500 sectors, consumer discretionary and industrial stocks led declines. One bright spot was the healthcare sector, which jumped nearly 2%, helped by gains in Johnson & Johnson (JNJ) and Eli Lilly (LLY). Recession concerns weighed particularly heavily on small-cap stocks, as the Russell 2000 index dropped near a two-week low. WTI crude futures fell slightly but remained above $80 a barrel and near two-month highs.
Gold futures extended this week’s rally and ended at a 13-month high.
Posted on April 6, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Ann Miller RN MHA
[Manager Editor]
MarcinkoAdvisors@msn.com
About iMBA Inc’s Next-Gen Advisors
[FREE Initial Review & RFP Consultation]
***
The “Medical Executive-Post” is about connecting doctors, health care executives and modern consulting advisors. It’s about career, business, IT, practice, policy, personal financial planning and wealth building.
We have an attitude that’s fiercely independent, outspoken, intelligent and so Next-Gen; often edgy, usually controversial.
And, our new wave editors “got fly”, just like U.
Read it! Write it! Post it! “Medical Executive-Post”.
So, call or email for your FREE initial consultation with RFP review, TODAY.
The Institute of Medical Business Advisors, Inc provides a team of experienced, senior level consultants led by iMBA Chief Executive Officer Dr. David Edward Marcinko MBA CMP™ MBBS [Hon] and President Hope Rachel Hetico RN MHA CMP™ to provide going contact with our clients throughout all phases of each project, with most of the communications between iMBA and the key client participants flowing through this Senior Team. iMBA Inc., and its skilled staff of certified professionals have many years of significant experience, enjoy a national reputation in the healthcare consulting field, and are supported by an unsurpassed research and support staff of CPAs, MBAs, MPHs, PhDs, CMPs™, CFPs® and JDs to maintain a thorough and extensive knowledge of the healthcare environment. The iMBA team approach emphasizes providing superior service in a timely, cost-effective manner to our clients by working together to focus on identifying and presenting solutions for our clients’ unique, individual needs.
The iMBA Inc project team’s exclusive focus on the healthcare industry provides a unique advantage for our clients. Over the years, our industry specialization has allowed iMBA to maintain instantaneous access to a comprehensive collection of healthcare industry-focused data comprised of both historically-significant resources as well as the most recent information available. iMBA Inc’s specific, in-depth knowledge and understanding of the “value drivers” in various healthcare markets, in addition to the transaction marketplace for healthcare entities, will provide you with a level of confidence unsurpassed in the public health, health economics, management, administration, and financial planning and consulting fields.
iMBA Inc’s information resources and network of healthcare industry textbook resources enhanced by our professional consultants and research staff, ensure that the iMBA project team will maintain the highest level of knowledge regarding the current and future trends of the specific specialty market related to the project, as well as the healthcare industry overall, which serves as the “foundation” for each of our client engagements.
Posted on April 5, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
***
Happy Passover to all those celebrating tonight
***
Johnson & Johnson proposes monster $8.9 billion talc settlement. The healthcare giant offered $8.9 billion to settle lawsuits from tens of thousands of people who claim that its talc-based powders and other products gave them cancer. It’s a huge increase from the $2 billion J&J originally offered and would be one of the largest product liability settlements in history, according to the WSJ. To clinch the settlement, J&J needs support from more than 75% of the voting claimants—and it thinks it has it.
And here’s how the major indexes performed yesterday, Tuesday:
The S&P 500 Index fell 23.91 points (0.6%) to 4,100.60; the Dow Jones industrial average fell 198.77 (0.6%) to 33,402.38; the NASDAQ Composite fell 63.13 (0.5%) to 12,126.33.
The 10-year Treasury yield fell about 9 basis points to 3.346%.
Small-cap stocks were among the weakest performers Tuesday, with the Russell 2000 index sinking more than 2%. Industrial, energy, and financial stocks led decliners among S&P 500 sectors. Gold futures surged to a 13-month high, while the U.S. dollar index slipped.
Shares of Walmart fell as the largest U.S. retailer began its investor meeting Tuesday. Comments from Walmart executives could offer indications on the overall financial health and spending patterns of U.S. consumers. The company said in February that high prices and weak demand for discretionary items could be headwinds.
Posted on April 3, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
***
***
Nouriel Roubini says the economy is headed for a “doom loop”. That’s due to three stressors in the economy, which will leave the Fed unable to fight a recession. Roubini, who called the 2008 downturn, has long warned of imminent financial chaos. And, he has more dire words of warning for the economy.
“Dr. Doom” warned in a column this week that the US face a major financial crisis and the economy is entering what he calls a “doom loop”.
In an op-ed for Project Syndicate on Thursday, Roubini forecasted a coming cycle of economic pain, as the US struggling under both high inflation and high debt burdens. Those issues perpetuate each other, he said, warning of a recession and impending financial crisis that would only get worse the longer it dragged on.
During an appearance on “Fox & Friends Weekend,” Breitbart economics editor John Carney warned that the dollar’s feeble valuation could be a “serious threat” to the U.S.’s crucial influence on the world stage.
“”[It’s] not only a serious threat, I think it is inevitable. We went through three stages, as you said, after World War II. The U.S. was the biggest economy in the world. In the 1970s, global banking became basically dollar central. With the fall of the Soviet Union, the entire world, more or less, came under the domination of the U.S dollar…”
Posted on April 2, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
***
***
A disastrous month of March is what Charles Schwab has just experienced. An avalanche of bad news fell on the firm. The stock fell 33% between Feb. 28 and Mar. 31. At the end of February, Charles Schwab’s shares were trading at around $77.92. A month later the price is now $52.38. The difference translates to more than $47 billion in market capitalization wiped out in just one month. According to Bloomberg News, this is Charles Schwab’s worst month since the October 1987 stock market crash, known as Black Monday. That day, the Dow Jones index lost 508 points, a decline of 22.6% and the largest daily decline in a stock market index at the time. Only the drop by 76% of the Icelandic stock market in 2008 would exceed this record.
VERSUS
With the first quarter of 2023 behind us, and despite wild fluctuation due to continuous rate hikes from the Fed and an unexpected bank panic, stocks and bonds managed to turn in a pretty, pretty, pretty good performance for the quarter. The S&P 500 gained 7%, and the Dow Jones Industrial Average gained 0.4%. But if the market’s metaphorical report card is impressive, tech companies were indisputably the honors students.
Wall Street rewarded tech companies’ layoffs and other cost cutting measures, giving tech stocks a resurgence. And with ChatGPT becoming a household name, investors have their money on generative AI as the next big bet. As of last night:
The tech-heavy NASDAQ Composite index rose a whopping 18% since January 1, its largest quarterly gain in two years.
Stocks of the tech giants leading the charge in AI-powered search, Microsoft and Alphabet, are up 20% and 16%, respectively.
Bank stocks were a delight for short sellers, who made $2 billion betting against the sector in the past three months.
Smaller institutions were most badly injured by the bank panic: The SPRD S&P Regional Banking ETF, which consists of non-behemoth banks, had more than a quarter of its value wiped out in Q1.
Large banks are feeling the pinch of rising interest rates: Global merger and acquisition deals suffered the biggest first-quarter decline since 2001, according to data analyzed by the Financial Times.
Posted on April 1, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
***
***
April Fools’ Day—occurring on April 1 each year—has been celebrated for several centuries by different cultures, though its exact origins remain a mystery. April Fools’ Day traditions include playing hoaxes or practical jokes on others, often yelling “April Fools!” at the end to clue in the subject of the April Fools’ Day prank. While its exact history is shrouded in mystery, the embrace of April Fools’ Day jokes by the media and major brands has ensured the unofficial holiday’s long life.
Investors celebrated a lower-than-expected reading on the Federal Reserve’s preferred inflation gauge by driving major U.S. stock indexes higher Friday, the last trading day of the first quarter. Sentiment got a boost after reports that the personal consumption expenditures (PCE) index rose 0.3% in February, a little below the 0.4% economists were expecting, and 5% from the same month a year ago. Core PCE inflation, which excludes volatile food and inflation prices, was also up 0.3% from the previous month and 4.6% from a year earlier. PCE and core PCE both rose 0.6% in January from the month before.
Despite wild fluctuation due to continuous rate hikes from the Fed and an unexpected bank panic, stocks and bonds managed to turn in a pretty, pretty, pretty good performance for the quarter. The S&P 500 gained 7%, and the Dow Jones Industrial Average gained 0.4%.
But, tech companies were indisputably the market leaders.
Wall Street rewarded tech companies’ layoffs and other cost cutting measures, giving tech stocks a resurgence. And with ChatGPT becoming a household name, investors have their money on generative AI as the next big bet. As of last night:
The tech-heavy NASDAQ Composite index rose a whopping 18% since January 1st, its largest quarterly gain in two years.
Stocks of the tech giants leading the charge in AI-powered search, Microsoft and Alphabet, are up 20% and 16%, respectively.
Bank stocks were a delight for short sellers, who made $2 billion betting against the sector in the past three months.
Smaller institutions were most badly injured by the bank panic: The SPRD S&P Regional Banking ETF, which consists of non-behemoth banks, had more than a quarter of its value wiped out in Q1.
Large banks are feeling the pinch of rising interest rates: Global merger and acquisition deals suffered the biggest first-quarter decline since 2001, according to data analyzed by the Financial Times.
“The 0.3% monthly increase in core PCE was a step in the right direction but suggests the path to 2% inflation will still likely be long and bumpy,” says Collin Martin, a fixed income strategist at the Schwab Center for Financial Research.
The S&P 500 Index rose 58 points (1.44%) to 4109.05; the Dow Jones industrial average was up 415 points (1.26%) at 33274.15; the NASDAQ Composite was up 208 points (1.74%) at 12221.91.
The 10-year Treasury yield slipped seven basis points to 3.482%.
CBOEs Volatility Index was down 22 basis points (1.16%) at 18.78.
Posted on March 30, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
***
***
CVS expects to finalize its $8 billion acquisition of Signify Health this week, the retail pharmacy giant said yesterday. CVS beat out both Amazon and UnitedHealth Group to buy Signify, a value-based provider network. The company announced the deal last September, and executives said they expect it to close “on or around March 29th.”
In a phone call following the deal announcement, Shawn Guertin, EVP and CFO at CVS, said the company anticipates that acquiring Signify will “generate attractive returns” for CVS. The acquisition strengthens CVS’s goal of becoming a value-based healthcare company and could give it a leg up over rival Walgreens. Both companies have doubled down on value-based care in the last couple of years, making several multi-billion dollar deals, such as Walgreens’s $5.2 billion VillageMD acquisition in 2021 and CVS’s $10.6 billion takeover of Oak Street Health.
***
***
The U.S. Food and Drug Administration has approved NARCAN, an overdose-reversing nasal spray, for over-the-counter, non-prescription sale, the agency just announced. The FDA green light marks the first naloxone product approved for use without a prescription. Naloxone rapidly reverses the effects of an opioid overdose, including situations where fentanyl is involved. In the 12-month period ending in October 2022, the United States recorded 101,750 overdose deaths, primarily from opioids including fentanyl, according to the FDA.
“Today’s action paves the way for the life-saving medication to reverse an opioid overdose to be sold directly to consumers in places like drug stores, convenience stores, grocery stores and gas stations, as well as online,” the agency said in a news release.
***
Here’s how the major indexes performedyesterday:
The S&P 500® Index rose roughly 57 points (1.42%) to 4027.83; the Dow Jones industrial average was up 323 points (1.0%) at 32717.73; the NASDAQ Composite was up 210 points (1.79%) at 11926.24.
The 10-year Treasury yield was little changed at 3.575%.
CBOEs Volatility Index was down 80 basis points (4.01%) at 19.17.
Posted on March 29, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
***
***
Markets: The NASDAQ stumbled for the second straight day as rising bond yields banged up the tech sector, which is ultrasensitive to higher interest rates.
Alibaba: Shares in the Chinese e-commerce giant popped after it announced the most extreme restructuring in its history: It’s going to split up into six business units (“mini Alibabas”) that could each go IPO separately.
Et Cetera and More
***
AMC stock popped 13% after a report from The Intersect claimed Amazon was considering buying the theater chain.
Lucid, the EV startup, is laying off ~18% of its workforce, or around 1,300 employees.
Disney has cut its metaverse division as part of 7,000 layoffs, according to the WSJ.
McKinsey, the consulting firm that usually recommends layoffs at other companies, is cutting about 1,400 roles from its own roster.
Substack is allowing writers on its platform to buy shares in the company for as little as $100. Substack has already raised $82 million in venture capital.
Posted on March 28, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
***
***
A rare alignment of five planets will be visible in the night sky this week, but this Tuesday [tonight] evening will be your best bet. Just head outside right after sunset, look west, and you’ll see Mercury, Venus, Mars, Jupiter, and Uranus appear to line up in an arc shape below the crescent moon. Anyone on Earth should be able to see it, even if you’re living in a city with light pollution.
The word syzygy is often used to describe interesting configurations of astronomical objects in general. For example, one such case occurred on March 21, 1894, around 23:00 GMT, when Mercury transited the Sun as would have been seen from Venus, and Mercury and Venus both simultaneously transited the Sun as seen from Saturn. It is also used to describe situations when all the planets are on the same side of the Sun although they are not necessarily in a straight line, such as on March 10, 1982.
***
Here’s how the mixed markets fared yesterday on Monday:
The S&P 500® Index was up 6.54 points (0.16%) at 3977.53; the Dow Jones industrial average was up 194.55 points (0.6%) at 32432.08; the NASDAQ Composite was down 55.12 points (0.47%) at 11768.84.
The 10-year Treasury yield was up around 17 basis points at 3.542%.
CBOEs Volatility Index was down 1.05 points (4.8%) at 20.71.
Outside of the financial sector, energy also had a good day Monday, as the apparent return to calm in the world of banks helped ease concerns about the economy. Oil prices recovered, with West Texas Intermediate rising more than 5% to roughly $73.
Posted on March 27, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
***
***
Ark’s Back-to-Back Sale: Ark Invest’s Ark Innovation ETF (NYSE: ARKK) and Ark Next Generation Internet ETF (NYSE: ARKW) sold 119,151 and 11,547 shares of Tesla, respectively, on Friday, daily trade information from the company showed. Friday’s disposals totaled 130,698 shares, valued at $24.98 million. On Thursday, Ark’s ARKK and ARKW cumulatively sold 139,000 shares valued at $26.8 million. Wood’s firm divested $51.78 million worth of Tesla stock this week.
Ark has been a buyer of Tesla shares since the stock’s decline late last year. The last sale by the firm ahead of this past week’s liquidation was in early September. 2022. On the other hand, Elon Musk is reportedly handing out stock awards to Twitter employees at a valuation of ~$20 billion. He bought the company for $44 billion last year.
***
SVB was finally sold. Well, at least a large portion of it. First Citizens BancShares, a Raleigh-based regional bank, is scooping up SVB’s deposits, loans, and 17 branches that will reopen today under new ownership. About $90 billion of SVB’s assets will remain with the FDIC, which took control of SVB following its epic collapse over two weeks ago. The sale is meant to “instill confidence in the banking system,” the CEO of First Citizens said, and it seems to be working for now: Regional lenders like First Republic Bank are surging premarket.
Support our online development, and advance our onground research initiatives in free market economics, as we seek to showcase the brightest Next-Gen minds.
THE ME-P DISCLAIMER: Posts, comments and opinions do not necessarily represent iMBA, Inc., but become our property after submission. Copyright © 2006 to-date. iMBA, Inc allows colleges, universities, medical and financial professionals and related clinics, hospitals and non-profit healthcare organizations to distribute our proprietary essays, photos, videos, audios and other documents; etc. However, please review copyright and usage information for each individual asset before submission to us, and/or placement on your publication or web site. Attestation references, citations and/or back-links are required. All other assets are property of the individual copyright holder.
The Leading Business Education Network for Doctors, Financial Advisors and Health Industry Consultants 