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PHYSICIAN SALARY: Pay Gap

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

By Staff Reporters

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A 2020 analysis of Doximity’s physician compensation data found that men physicians make an estimated $2 million more than women over the course of their careers.

LINK: https://www.statnews.com/2021/12/06/male-female-physician-salaries-gap-2-million-lifetime-earnings/#:~:text=A%20persistent%2025%25%20pay%20gap%20between%20female%20and,for%20specialty%2C%20hours%2C%20location%2C%20and%20years%20of%20experience.

Other findings:

Men physicians outearned women physicians by at least 10% across all specialties, except pediatric cardiology (9.2%) and nuclear medicine (3%).
Specialties with the largest gender pay gaps were: oral and maxillofacial surgery ($568,789 vs. $395,687), pediatric pulmonology ($282,272 vs. $227,958), allergy and immunology ($329,634 vs. $268,938), urology ($515,850 vs. $424,733), and ophthalmology ($468,515 vs. $387,295).
Specialities with the smallest gender pay gaps were: nuclear medicine ($394,231 vs. $382,431), pediatric cardiology ($334,384 vs. $303,622), pediatric gastroenterology ($293,771 vs. $264,135) hematology ($358,736 vs. $320,938), and medicine/pediatrics ($283,034 vs. $253,019).
CITE: https://www.r2library.com/Resource/Title/0826102549

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CAREERS: https://medicalexecutivepost.com/2022/10/01/careers-and-net-worth/

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DAILY UPDATE: The Markets and Gold Futures

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

By Staff Reporters

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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.

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

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.

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

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ORDER: https://www.routledge.com/Comprehensive-Financial-Planning-Strategies-for-Doctors-and-Advisors-Best/Marcinko-Hetico/p/book/9781482240283

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OPINIONS: Stock Markets VERSUS Economic Vision?

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

What is Your Opinion?

By Staff Reporters

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Markets: Stocks ran on a treadmill yesterday as investors waited for the high-stakes inflation report to drop this morning. Major cryptocurrencies have emerged as the biggest winners of 2023 so far, and Bitcoin topped $30,000 for the first time in 10 months.
Dueling economic visions: Depending on who you ask, the economy is doing just fine…or it’s about to slow down dramatically. Treasury Secretary Janet Yellen said yesterday that “the US economy is obviously performing exceptionally well.” But that’s not obvious at all to the IMF, which predicted weak global growth this year and gave its gloomiest five-year economic forecast since 1990.
CITE: https://www.r2library.com/Resource/Title/0826102549

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DAILY UPDATE: Inflation with Market Updates

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

By Staff Reporters

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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.

CITE: https://www.r2library.com/Resource/Title/0826102549

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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.

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Coordinated Actions Indicate Growing Scrutiny of Tele-Medicine

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

By Health Capital Consultants, LLC

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GROWING SCRUTINY OF TELE-MEDICINE

On July 20, 2022, the Office of Inspector General (OIG) of the U.S. Department of Health & Human Services (HHS) released a Special Fraud Alert on telemedicine. On the same day, the U.S. Department of Justice (DOJ) announced a “nationwide coordinated law enforcement action” against 36 defendants, and the Centers for Medicare & Medicaid Services (CMS) Center for Program Integrity announced administrative actions against 52 providers, related to alleged telemedicine arrangements. These coordinated actions indicate a growing scrutiny of telemedicine arrangements by federal government regulators. (Read more...)

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DAILY UPDATE: Sternlicht Speaks on Inflation as the Markets Stabilize

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

By Staff Reporters

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Image result for inflation

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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.”

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

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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.

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

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ORDER: https://www.routledge.com/Comprehensive-Financial-Planning-Strategies-for-Doctors-and-Advisors-Best/Marcinko-Hetico/p/book/9781482240283

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DAILY UPDATE: Post Holiday Weekend

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

By Staff Reporters

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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.

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

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.

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

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ORDER: https://www.routledge.com/Comprehensive-Financial-Planning-Strategies-for-Doctors-and-Advisors-Best/Marcinko-Hetico/p/book/9781482240283

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DAILY UPDATE: Easter Sunday Market Wrap-Up

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

By Staff Reporters

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According to the Financial Times, just 20 stocks account for almost 90 per cent of the US benchmark index’s $2.36tn gains so far this year, as instability in the banking sector has driven down interest rate expectations and boosted the attraction of Big Tech.

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

Among the big gainers, shares in chip-maker Nvidia have climbed by 83 per cent so far this year, while Facebook owner Meta is up 76 per cent and Salesforce has climbed 42 per cent, underlining the heavy concentration in the world’s most influential stock market. The market value of those and the other 17 best performing stocks in the S&P 500 have surged by $2.05tn in 2023. Apple’s valuation alone has shot up by almost $600bn, or 30 per cent, in the past three months.

And, according to Yahoo Finance, the market capitalization of the other stocks in the index — which is up almost 7 per cent so far in 2023 — has risen just $320bn over the same period.

Finally, according to private equity firm Apollo Global Management and ignoring gains for mega-cap growth stocks, the S&P 500 rose just 1.4 per cent in the first three months of 2023, said UBS.

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

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ORDER: https://www.routledge.com/Comprehensive-Financial-Planning-Strategies-for-Doctors-and-Advisors-Best/Marcinko-Hetico/p/book/9781482240283

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DAILY UPDATE: Bureau of Labor Statistics

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.

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

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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.

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

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ORDER: https://www.routledge.com/Comprehensive-Financial-Planning-Strategies-for-Doctors-and-Advisors-Best/Marcinko-Hetico/p/book/9781482240283

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PODCASTS: The Evolution Of Stock Markets

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

By Professor Edward Peter Stringham PhD

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READ/LISTEN HERE: https://www.valuewalk.com/edward-stringham-the-evolution-of-stock-markets/#:~:text=In%20Private%20Governance%2C%20prominent%20economist%20Edward%20Stringham%20presents,that%20fill%20a%20void%20that%20government%20enforcement%20cannot.

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The Stock Market, The Economy, Possible Outcomes, How to Invest

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

By Vitaliy Katsenelson, CFA

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This is part one of the post winter seasonal letter I wrote to IMA clients, sharing my thoughts about the economy and the market. I tried something I’ve never done before. Instead of conveying my message through storytelling, I tried to compress my thoughts into short sentences. I summarized some 50,000 words into about 1,000 (a compression ratio of 50 to 1!).

READ HERE: https://contrarianedge.com/the-stock-market-the-economy-possible-outcomes-how-to-invest/?utm_source=IMA++-+Main+Articles&utm_campaign=7b4f1d01d6-UBER_MONEY_MANAGER_KIDNAPPED_COPY_01&utm_medium=email&utm_term=0_f1c90406d1-7b4f1d01d6-55139025

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FDIC: Lifting the Insurance Deposit Cap?

Posted on April 6, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Understanding FDIC insurance limits

The FDIC wants to make sure it can cover everyone with a bank account, so to make that happen, it caps how much money it insures. The FDIC says its standard is to cover up to “$250,000 per depositor, per insured bank, for each account ownership category.

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

Here’s an example: Let’s say you have $100,000 in your checking account and $150,000 in your savings, all at the same bank. The FDIC classifies those under the same category: single accounts.So you would have hit your FDIC deposit limit. Every additional cent deposited into either account would be uninsured. But if you have money in other banks or other deposit categories, you may have additional coverage.

Could the insured deposit cap get a lift?

At least four US lawmakers—two from each side of the aisle—said they would support raising the cap on FDIC-insured deposits in order to reassure frazzled bank customers that their deposits are safe. The current cap is $250,000 (up from $100k pre-financial crisis), but Democratic Sen. Elizabeth Warren said bumping it up “is a good move.” Opponents of raising the cap say it would only increase risk-taking and bad behavior by banks. Some even argue we should lower it.

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DAILY UPDATE: The Domestic Markets

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

By Staff Reporters

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Happy Passover to all those celebrating tonight

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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%.
CBOE’s Volatility Index was up 0.44 at 18.99.

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

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.

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

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ORDER: https://www.routledge.com/Comprehensive-Financial-Planning-Strategies-for-Doctors-and-Advisors-Best/Marcinko-Hetico/p/book/9781482240283

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DAILY UPDATE: About the Markets

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

By Staff Reporters

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Major U.S. stock indexes ended mixed, after the announcement of a surprise OPEC+ production cut sent crude oil prices to two-month highs and fueled inflation concerns that could keep the Federal Reserve in policy-tightening mode. This weekend, several OPEC+ members, including Saudi Arabia, announced production cuts totaling nearly 1.2 million barrels a day that are slated to start in May. In response, WTI crude futures soared above $80 a barrel. Word of the planned cuts also boosted expectations that the Fed could raise its benchmark interest rate again in May as the central bank extends efforts to tamp down inflation. The OPEC+ cuts “suggest more headline inflation pressure in the near-term,” says Jeffrey Kleintop, chief global investment strategist at Charles Schwab & Co. The potential for further waves of inflation will “keep central banks from declaring victory over excessive price gains,” he adds. “That’s another headwind for tech stocks and other ‘long duration’ equities that get more of their cash flow in the future than in the near term.”

CITE: https://www.r2library.com

The following is a round-up of today’s market activity:

The S&P 500^® Index was up 15.2 (0.4%) at 4124.51, the highest close since Feb. 15; the Dow Jones industrial average was up 327 (1.0%) at 33601.15; the NASDAQ Composite was down 32.45 (0.3%) at 12189.45.
The 10-year Treasury yield was down about 7 basis points at 3.417%.
CBOE’s Volatility Index was down 0.14 at 18.56.

Oil producers and other energy companies led gainers Monday. Health care stocks also outperformed. Consumer discretionary and real estate were among the laggards.

Among individual stocks, Tesla (TSLA) shares tumbled over 6% following reports the electric car-maker delivered just 423,000 vehicles in the first quarter. Analysts had expected 430,000, according to research firm FactSet.

Looking ahead, medical companies, especially vaccine makers, may be worth watching this week with the World Vaccine Congress taking place in Washington, D.C. Some well-known vaccine makers include Moderna (MRNA), Johnson & Johnson (JNJ), and GlaxoSmithKline (GSK). Late last month, Walgreens Boots Alliance (WBA) reported a steep year-over-year decline in demand for COVID-19 vaccinations.

The U.S. dollar index fell slightly, while gold futures climbed above $2,000 per ounce to post their highest close in over two years.

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

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ORDER: https://www.routledge.com/Comprehensive-Financial-Planning-Strategies-for-Doctors-and-Advisors-Best/Marcinko-Hetico/p/book/9781482240283

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DAILY UPDATE: Nouriel Roubini and John Carney Speak

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

By Staff Reporters

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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.

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

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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.

RUSSIA, CHINA MAY BE PREPARING NEW GOLD-BACKED CURRENCY, BUT EXPERT ASSURES US DOLLAR ‘SAFEST’ CURRENCY TODAY

“”[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…”

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INVITE MARCINKO: https://medicalexecutivepost.com/2023/02/07/should-you-invite-dr-marcinko-to-speak-at-your-next-seminar-or-event/

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

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ORDER: https://www.routledge.com/Comprehensive-Financial-Planning-Strategies-for-Doctors-and-Advisors-Best/Marcinko-Hetico/p/book/9781482240283

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HOW: The ME-P Helps Your Financial Advisory Business or Medical Practice Grow?

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

All about the Medical Executive-Post Business Model

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One of the questions we receive most often from readers of the Medical Executive-Post is how can we “afford” to give away so much content for free. Or stated another way, “how do we get paid for all of this?”

The simple answer is that we know many (or even most) of you will simply take the ideas that we share and implement them yourself. Do-It-YourSelfers can always simply purchase our texts, books and peer reviewed handbooks redacted in more than a thousand, medical, law, business and graduate schools, as well as the Library of Congress, Institute of Health and Library of Congress.

LINK: https://medicalexecutivepost.com/2021/10/22/why-are-certified-medical-planner-textbooks-so-darn-popular/

On the other hand, some of you will realize you need some additional help.

For example:

Maybe as a financial advisor you’re “stuck” in your financial planning business and recognize that some outside assistance is necessary to help you get to the next level of niche specificity thru our Certified Medical Planner™ chartered certification program designation. Helping physicians of all specialty types in a fiduciary focused manner is the proverbial Win-Win for all concerned.

LINK: http://www.CertifiedMedicalPlanner.org

OR, perhaps you are seeking a glossary of terms and definitions in heath economics, finance, accounting, insurance, managed care, health information technology and security; found in our Health Dictionary Series Wiki Project? Free and print versions are available.

LINK: http://www.HealthDictionarySeries.org

LINK: https://medicalexecutivepost.com/2011/09/17/order-our-three-newest-best-selling-dictionaries/

OR, as a doctor maybe your medical practice is growing so much you just hit a wall where you don’t have time to do it all for your patients. After all, with only “so much” time available every day and week, it’s vital to delegate or outsource anything that isn’t really core to your practice and management skill set.

LINK: http://www.MedicalBusinessAdvisors.com

OR, maybe you are even starting, buying or selling your medical practice and need our financial and valuation services. Part (1) – Part (2) – Part (3) Financial, estate, investing and retirement planning services are also available.

OR, you may just need a second informed opinion about a topic not listed; there are a myriad of issues to consider in the competitive ecosystem today.

LINK: https://medicalexecutivepost.com/schedule-a-consultation/

Regardless, we may have solutions to help!

So, in the meantime, I hope that the ME-P content continues to be helpful food for thought, and perhaps we’ll have an opportunity to cross paths soon at a future conferences or podcasts. Feel free to invite us to speak at your own seminar/podcast online V-log, as well.

INVITATION LINK: https://medicalexecutivepost.com/dr-david-marcinkos-bookings/

With warm regards.

Fraternally.
Ann Miller RN MHA CMP™

[Managing Director]

email: MarcinkoAdvisors@msn.com

Phone: 770-448-0769

***

***

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DAILY UPDATE: Charles Schwab VERSUS First Quarter 2023 Stock Market Results

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

By Staff Reporters

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***

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.

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

The 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 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.
Bitcoin surged 72%.
CITE: https://www.amazon.com/Comprehensive-Financial-Planning-Strategies-Advisors/dp/1482240289/ref=sr_1_1?ie=UTF8&qid=1418580820&sr=8-1&keywords=david+marcinko

The LAGGARDS

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.
CITE: https://www.amazon.com/Comprehensive-Financial-Planning-Strategies-Advisors/dp/1482240289/ref=sr_1_1?ie=UTF8&qid=1418580820&sr=8-1&keywords=david+marcinko

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***

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DAILY UPDATE: Stock Markets Blast Off – No Fool!

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

By Staff Reporters

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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.

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

***

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.

CITE: https://www.amazon.com/Comprehensive-Financial-Planning-Strategies-Advisors/dp/1482240289/ref=sr_1_1?ie=UTF8&qid=1418580820&sr=8-1&keywords=david+marcinko

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.

Bitcoin surged 72%.

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

LAGGARDS

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.

CITE: https://www.amazon.com/Comprehensive-Financial-Planning-Strategies-Advisors/dp/1482240289/ref=sr_1_1?ie=UTF8&qid=1418580820&sr=8-1&keywords=david+marcinko

Here’s how the major indexes performed Friday.

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.

***

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***

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Valuation of Medicare Advantage Plans and the Competitive Environment

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

By Health Capital Consultants, LLC

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Medicare Advantage (MA) plans, also known as Part C plans, serve as a supplement or an alternative to Original (also called Traditional) fee-for-service (FFS) Medicare Part A and Part B coverage, but they are still part of the Medicare program.

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

Most of these plans also include Part D (drug) coverage. MA was created by Congress to offer seniors an alternative to Original Medicare – with an emphasis on treating and managing the health of the whole patient. MA plans are offered to Medicare beneficiaries by Medicare-approved private companies, known as MA Organizations (MAOs), that must follow rules set by Medicare. (Read more…)

***

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DAILY UPDATE: Charles Schwab and the Major Market Indices

Posted on March 31, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Analysts at Morgan Stanley downgraded Charles Schwab Corp (NYSE: SCHW) on Tuesday, citing concerns over cash sorting and regulatory changes. But, Schwab CEO Walt Bettinger recently said that the company’s banking unit had enough liquidity to cover if 100% of its bank deposits ran off without having to sell a single security — Morgan Stanley says otherwise. Schwab’s recent performance has not been up to Morgan Stanley’s expectations, with customers moving cash out of sweep accounts into money market funds at a rate twice that which the bank had been modeling.

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

***

Here’s how the major indexes performed Thursday.

The S&P 500^® Index rose 23 points (0.57%) to 4050.84; the Dow Jones industrial average was up 141 points (0.43%) at 32859.03; the NASDAQ Composite was up 87 points (0.73%) at 12013.47.
The 10-year Treasury yield slipped 2 basis points to 3.555%.
CBOE’s Volatility Index was little changed at 19.14.

***

ORDER: https://www.routledge.com/Comprehensive-Financial-Planning-Strategies-for-Doctors-and-Advisors-Best/Marcinko-Hetico/p/book/9781482240283

***

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DAILY UPDATE: CVS Buys Signify Health, Narcan Goes OTC and the Technology Markets Ascend

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

By Staff Reporters

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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 performed yesterday:

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.

***

ORDER: https://www.routledge.com/Comprehensive-Financial-Planning-Strategies-for-Doctors-and-Advisors-Best/Marcinko-Hetico/p/book/9781482240283

***

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DAILY UPDATE: The Markets, Et cetera!

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

By Staff Reporters

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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

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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.

***

ORDER: https://www.routledge.com/Comprehensive-Financial-Planning-Strategies-for-Doctors-and-Advisors-Best/Marcinko-Hetico/p/book/9781482240283

***

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DAILY UPDATE: Syzygy and the Mixed Domestic Markets

Posted on March 28, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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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.

DEFINITION: The word is often used in reference to the Sun, Earth, and either the Moon or a planet, where the latter is in conjunction or opposition. Solar and lunar eclipses occur at times of syzygy, as do transits and occultations. The term is often applied when the Sun and Moon are in conjunction (new moon) or opposition (full moon).

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.

***

ORDER: https://www.routledge.com/Comprehensive-Financial-Planning-Strategies-for-Doctors-and-Advisors-Best/Marcinko-Hetico/p/book/9781482240283

***

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DAILY UPDATE: ARK Sells Tesla and First Citizens BancShares Buys SVB

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

By Staff Reporters

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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.

***

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***

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ESG Investing: Not So Hot … Anymore?

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

By Staff Reporters

Environmental, Social, and Corporate Governance

Florida is pulling $2 billion from BlackRock in the largest divestment ever made as part of the growing vendetta against Environmental, Social, and Governance (ESG) investing practices. Florida Governor Ron DeSantis and other Republican leaders claim that by taking ESG standards into account when making investment decisions, the firm isn’t prioritizing the bottom line. But, for a few years, things were good. In 2020 and 2021, ESG funds outperformed the market by ~4.3%.

https://medicalexecutivepost.com/2022/03/27/on-socially-responsible-investing-2/

DEFINITION: According to Wikipedia, ESG (environmental, social, and corporate governance) data reflect the externalities (costs to others) an organization is generating with respect to the environment, to society and to corporate governance. ESG data can be used by investors to assess the material risk the organization is taking and by the organization itself as metrics for strategic and managerial purposes. Investors may also use ESG data beyond assessing material risks to the organization in their evaluation of enterprise value, specifically by designing models based on assumptions that the identification, assessment and management of sustainability-related risks and opportunities in respect to all organizational stakeholders leads to higher long-term risk-adjusted return. Organizational stakeholders include but not limited to customers, suppliers, employees, leadership, and the environment.

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

Since 2020, there has been accelerating interest in overlaying ESG data with the Sustainable Development Goals (SDGs), developed based on work by United Nations beginning in the 1980s.

LINK: http://www.ESG.org

The term ESG was popularly used first in a 2004 report titled “Who Cares Wins”, which was a joint initiative of financial institutions at the invitation of UN. In less than 20 years, the ESG movement has grown from a corporate social responsibility initiative launched by the United Nations into a global phenomenon representing more than US$30 trillion in assets under management. In the year 2019 alone, capital totaling US$17.67 billion flowed into ESG-linked products, an almost 525 percent increase from 2015, according to Morningstar, Inc.. Critics claim ESG linked-products have not had and are unlikely to have the intended impact of raising the cost of capital for polluting firms, and have accused the movement of greenwashing.

PODCAST: https://medicalexecutivepost.com/2022/10/10/podcast-what-is-financial-green-washing/

Now All Mad

DeSantis ran his most recent campaign on fighting the “woke ideology” he believes is infiltrating the state. As part of the fight, Florida passed a resolution in August that said ESG standards should be ignored when investing state funds.

And he’s not the only one:

Other Republican-controlled states, including Missouri and Louisiana, have moved almost $1.3 billion away from BlackRock for similar reasons.
Texas flagged BlackRock as a financial firm that boycotts the state’s energy industry (something BlackRock has denied).

Meanwhile, Democrats aren’t happy either…they criticize BlackRock and ESG investing in general for not going far enough (and for using lax standards that let oil giants onto lists of ESG investments).

Bottom line: According to the Morning Brew, BlackRock and Florida are now cursed to yell “How could you prioritize politics over returns?” back and forth for eternity, and the debate over ESG investing is far from over. Republicans are poised to take over the House—after a campaign season that BlackRock poured record cash into—so we’re likely to see more drama play out at the federal level soon.

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What to Expect After the Silicon Valley Bank [SVB] Collapse

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

By Vitaliy Katsenelson CFA

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Over the past decade, the Federal Reserve has manipulated asset prices by interfering with free markets by deciding what both short-term and long-term interest rates should be. This resulted in an increase in risk-taking behavior among investors.

CITE: https://www.r2library.com/Resource/Title/08

Risk became a four-letter word uttered only by curmudgeons; the only thing investors feared was being left out. The more risk you took, the more money you made – until you lost it all.

RISK: https://www.routledge.com/Risk-Management-Liability-Insurance-and-Asset-Protection-Strategies-for/Marcinko-Hetico/p/book/9781498725989

READ: Silicon Valley Bank’s Downfall: A Cautionary Tale of What’s to Come

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DAILY UPDATE: Jack Dorsey, Deutsche Bank and the Markets

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

By Staff Reporters

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Jack Dorsey’s wealth tumbled after Hindenburg Research targeted his payments company Block, per Bloomberg. The short seller alleged Block misled investors “with inflated metrics” Block’s share price tumbled as much as 22% on Thursday on Hindenburg’s report.

Short seller Hindenburg Research has hit another billionaire’s fortune with a report. Jack Dorsey, the co-founder of payments company Block and Twitter, saw his net worth tumble by $526 million, or 11%, to $4.4 billion after the US-based research firm led by Nathan Anderson accused Block of misleading investors in a March 23 report, according to Bloomberg. Dorsey isn’t on the list of the world’s 500 richest persons on the Bloomberg Billionaires Index currently. He was previously featured at number 456 with a net worth of $5.41 billion on March 22nd, per Insider’s scan of the Index on Wednesday.

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Investors sparked a furious selloff in Deutsche Bank AG and thrust one of Europe’s most important lenders into the center of concerns about the health of the global financial system. Shares of Germany’s largest lender tumbled as much as 15%, their third consecutive day of losses, though they later regained some ground and were recently down 10%. The cost to insure against its default using credit-default swaps soared to their highest levels since 2020.

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Chairman Jerome Powell was ambiguous this week about future Federal Reserve moves, suggesting “some additional policy firming may be needed.”

Treasury yields dropped near seven-month lows, a seeming indication of escalating recession worries after the Fed raised its benchmark lending rate nine times to a range of 4.75% to 5% over the past year. The release next week of updated data on consumer confidence, inflation, and economic growth will likely be in focus.

Monetary Policy: https://medicalexecutivepost.com/2023/03/17/the-modern-us-monetary-system/

The swings in stock prices this week “were consistent with the unclear outlook for monetary policy, the banking system, and the broader economy,” says Kevin Gordon, senior investment strategist at Charles Schwab. “More time needs to pass before we know the true impact of the expected tightening in credit conditions.”

The S&P 500^® Index was up 22.27 (0.6%) at 3970.99; the Dow Jones industrial average was up 132.28 (0.4%) at 32,237.53; the NASDAQ Composite was up 36.56 (0.3%) at 11,823.96.
The 10-year Treasury yield was little changed at about 3.374%.
CBOE’s Volatility Index was down 0.87 at 21.74.

The real estate sector led the gainers Friday, followed by consumer staples and health care. Financials and consumer discretionary stocks edged lower, and technology stocks were little changed, though the tech-focused NASDAQ Composite still notched its second straight weekly gain. Gold and crude oil futures both declined, while the U.S. dollar strengthened.

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DAILY UPDATE: Accenture, Cidara and the Markets

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

By Staff Reporters

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Mass firings at tech companies continue as Accenture (NYSE:ACN) just announced plans to lay off around 19,000 people, or 2.5% of its current workforce, in the next 18 months. Over half of the departures will consist of people in non-billable corporate functions, the professional services firm said.

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Despite strong gains early this week, antifungal drug developers lost steam even after Cidara Therapeutics (NASDAQ:CDTX) won FDA approval for its candidemia treatment Rezzayo. Shares of Cidara (CDTX) and its rival in antifungal space Scynexis (NASDAQ:SCYX) jumped amid concerns of a fast-spreading fungal infection caused by yeast species Candida auris in the U.S. New approval of Rezzayo for fungal disease candidemia and invasive candidiasis has failed to reignite the interest, with Cidara (CDTX) and Scynexis (SCYX) trading at least 20% lower. Meanwhile, Cidara (CDTX) has not replicated its regulatory success on the financial front, reporting lower-than-expected financials for Q4 2022 on Thursday.

***

The following is a round-up of today’s market activity:

The S&P 500^® Index was up 11.75 (0.3%) at 3948.72; the Dow Jones industrial average was up 75.14 (0.2%) at 32,105.25; the NASDAQ Composite was up 117.44 (1.0%) at 11,787.40.
The 10-year Treasury yield was down about 11 basis points at 3.391%.
CBOE’s Volatility Index was up 0.35 at 22.61.

The energy sector led declines Thursday as crude oil futures fell back under $70 a barrel, with financials and consumer staples also losing ground. Technology and communications stocks managed to hold onto gains.

Finally, gold futures surged over 2% to a one-year high near $2,000 an ounce.

***

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DAILY UPDATE: Wood, Moderna and the Domestic Down Markets

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

By Staff Reporters

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Cathie Wood just revealed that her flagship fund ARK Invest lost over $2 billion last year. Her struggles sum up how rising interest rates are affecting markets, according to the CEO of JPMorgan Asset Management. “When the Federal Reserve hits the brakes, something goes through the windshield,” George Gatch said.
Cathie Wood’s Ark Invest also sold $13.5 million worth of Coinbase stock. The famed money manager now holds a 7% stake in the crypto exchange worth $837 million. Shares of Coinbase are up nearly 30% in the past five trading sessions as crypto prices rallied.

***

Moderna – which received about $10 billion in taxpayer money to produce its COVID-19 vaccine and has since earned billions more in profits selling it – was sued in early 2022 by Genevant Sciences and Arbutus Biopharma Corp., which accused Moderna of using technology they have patented in its vaccine. The two companies have asked a federal court in Delaware to award them damages for the infringement.

CITE: https://www.r2library.com/Resource/Title/0826102549

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Alex Coffey, senior trading strategist at TD Ameritrade, said recent turmoil in the banking industry has effectively tightened credit conditions, possibly making further rate increases by the Fed unnecessary. Still, the Fed had to send a message that it’s not making an abrupt shift in its efforts to bring inflation down. The Fed has been in “cruise control” raising rates, “staying in the fast lane,” Alex says. “Now, it has turned off cruise and maybe changed lanes, but isn’t doing a quick move toward the off ramp. Today’s increase was not a ‘dovish’ hike, but also not the hawkish stance that was feared.”

“We’re near the end of the tightening cycle,” he adds. “But they have to do this slowly.”

The Fed commentary appeared to briefly soothe the market, causing the S&P 500^® Index to rise as much as 1% soon after the central bank’s announcement, but the benchmark changed direction in the last hour of trading. The reversal may have in part been in response to the ambiguity of Powell’s words, as well as continuing concern about a potential recession.

And so, the following is a round-up of today’s domestic market activity:

The S&P 500 Index was down 65.90 (1.7%) at 3936.97; the Dow Jones industrial average was down 530.49 (1.6%%) at 32,030.11; the NASDAQ Composite was down 190.15 (1.6%) at 11,669.96.
The 10-year Treasury yield was down about 17 basis points at 3.44%.
CBOE’s Volatility Index was up 0.88 at 22.26.

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FOMC Hikes Interest Rates 0.25%

Posted on March 22, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

BREAKING NEWS!

By Staff Reporters

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Dateline: WASHINGTON—The Federal Reserve raised its key short-term interest rate by a quarter percentage point today, pushing ahead with its aggressive campaign to tame inflation despite financial turmoil following Silicon Valley Bank’s collapse.

FOMC officials forecast another quarter point in rate increases this year to a peak range of 5% to 5.25%, in line with its December estimate and lower than the level markets anticipated before SVB’s meltdown.

In a statement after a two-day meeting, the Fed acknowledged recent strains in the nation’s banks and said they will soften the economy but added the financial system is stable.

CITE: https://www.r2library.com/Resource/Title/0826102549

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DAILY UPDATE: Stocks Rise Ahead of the FOMC

Posted on March 22, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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The following is a round-up of yesterday’s market activity:

The S&P 500 Index was up 51.3 (1.3%) at 4002.87, its highest close since March 6th; the Dow Jones industrial average was up 316.02 (1.0%) at 32,560.60; the NASDAQ Composite was up 184.57 (1.6%) at 11,869.11, the highest close since February 15th.
Treasury yield was up about 12 basis points at 3.594%.
CBOE’s Volatility Index was down 2.74 at 21.41.
Related: https://medicalexecutivepost.com/2022/10/08/what-up-vix/

***

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COLLAPSE: How Greed and Leverage Destroyed the Crypto-Tulip Market

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

By Vitaliy Katsenelson CFA

Crypto currency was touted as antidote to central banking.

But with its own flaws, is the system itself to blame for this crypto market crash?

***

Cryptocurrencies were supposed to offer a new, virtual alternative to the current, mundane, “corrupt” system, in which a few dozen bureaucrats in conference rooms around the world – central bankers – manipulate the most important commodity of all – interest rates – the price of money.

CITE: https://www.r2library.com/Resource/Title/0826102549

The collapse of FTX (a cryptocurrency exchange that was valued at $30 billion just a few months ago) and the subsequent bankruptcies revealed what may have started as a kernel of sincere libertarian ideas to stand up to endless money printing and debt creation in our financial system, has been hijacked by what appears to be an immutable flaw of the human condition: our greed and desire to get rich fast.

READ: How Greed and Leverage Destroyed the Crypto Tulip Market

***

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PODCAST: Value Based Care

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

THE EVOLUTION OF VBC

By Digital Health New York

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CIGNA Healthcare Truth

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

By Darrell K. Pruitt DDS

QUOTE: “Employees are the biggest asset of any company, so it’s more important than ever to focus on staff well-being during uncertain times.”

Jason Sadler – President, International Health

Cigna Healthcare

QUERIES: So, Jason Sadler, how do you think Cigna’s dentists feel about Cigna?

Do you even dare to publicly respond to that question? … I didn’t think so.

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CIGNA Healthcare Truth

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

By Darrell K. Pruitt DDS

QUOTE: “Employees are the biggest asset of any company, so it’s more important than ever to focus on staff well-being during uncertain times.”

Jason Sadler – President, International Health

Cigna Healthcare

QUERIES: So, Jason Sadler, how do you think Cigna’s dentists feel about Cigna?

Do you even dare to publicly respond to that question? … I didn’t think so.

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DAILY UPDATE: VIX and the Equity Markets

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

By Staff Reporters

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The CBOE VIX index the gauge of equity volatility, twice spiked up to 30 before tumbling back down. The ICE BoAML MOVE index, a VIX for the Treasury market, jumped to its highest since the great financial crisis of 2008, at one point up more than 80% from just the start of February.

CITE: https://medicalexecutivepost.com/2022/10/08/what-up-vix/

Those moves illustrate the whipsaw action in stocks and bond yields as traders tried to work out the seriousness of the unfolding banking crisis and how much it would compromise central banks’ ability to sustain their inflation fighting strategies.

CITE: https://www.r2library.com/Resource/Title/0826102549

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The Dow Jones Industrial Average decreased 385 points (1.2%) to 31,862, the S&P 500 Index fell 44 points (1.1%) to 3,917, and the NASDAQ Composite went down 87 points (0.7%) to 11,631. In heavy volume, 8.8 billion shares of NYSE-listed stocks were traded, and 7.5 billion shares changed hands on the NASDAQ WTI crude oil lost $1.61 to $66.74 per barrel.

Elsewhere, the gold spot price climbed $58.70 to $1,981.70 per ounce, and the Dollar Index went down 0.5% to 103.90. Markets ended mixed for the week, as the DJIA nudged 0.2% lower, while the S&P 500 gained 1.4%, and the NASDAQ Composite advanced 4.4%.

***

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DAILY UPDATE: ECB Rates Up while US Equities Blast Off!

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

Good morning and Happy Saint Patrick’s Day

By Staff Reporters

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The European Central Bank (ECB) lifted its three policy rates by 50 basis points for the sixth consecutive time, raising the benchmark for borrowing costs in the Euro-zone to 3.0% from 2.5%, the highest level since late 2008, as inflation is seen overshooting its 2% target through 2025.

CITE: https://www.r2library.com/Resource/Title/0826102549

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U.S. stocks blasted higher reversing some recent losses as the banking sector continues to remain in the headlines. First Republic climbed after reports that it could receive up to $30 billion in deposits from some of the nation’s largest banks in an attempt to stabilize the lending firm. In other equity news, Adobe topped quarterly expectations and offered upbeat guidance, while Dollar General offered mixed results.

The economic calendar was also busy today, as jobless claims declined more than anticipated, import prices dipped, housing construction activity rose much more than projected, and manufacturing output in Philadelphia remained solidly in contraction territory.

Treasury yields were higher too and the U.S. dollar dipped, while crude oil prices rose, and gold moved modestly to the downside.

Asia finished mostly lower amid the global banking worries, and markets in Europe rebounded even as the European Central Bank followed through with a 50-basis point rate hike despite the financial market turbulence. Finally, Suisse rallied after getting some capital support from the Swiss National Bank.

***

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DAILY UPDATE: Banks that Paused, Charles Schwab, Vanguard and the Equity Markets

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

By Staff Reporters

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On Monday, Newsweek published a list of banks that had trading of shares halted. According to the NASDAQ Trader website, these banks were placed under a Volatility Trading Pause. Some of the banks that were placed under a Volatility Trading Pause included PacWest Bancorp, Western Alliance Bancorporation Common Stock, First Republic Bank Common Stock and Comerica Incorporated Common Stock. Some of these banks were placed under the halt several times, but the pauses only lasted a few minutes. For example, the NASDAQ Trader website shows that PacWest Bancorp was halted at 9:49 a.m. EST and resumed at 9:54 a.m. EST.

CITE: https://www.r2library.com/Resource/Title/0826102549

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Billionaire Charles Schwab’s net worth has plunged about $3 billion since March 8th, 2023.
Shares of Charles Schwab Corp fell sharply amid the collapse of Silicon Valley Bank.
Investors are worried as Charles Schwab Corp is sitting on a significant amount of unrealized losses on its bond assets.

Billionaire Charles Schwab’s fortune has taken a massive beating after shares of the eponymous company he founded plunged amid the banking crisis. Shares of Charles Schwab Corp, a savings and loan holding company, closed 11.6% lower at $51.91 apiece on Monday, bringing its market value lower by nearly 38% so far this year. But, by 11am Tuesday, shares of the corporation were back up 9.5 percent.

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Meanshile, mega-manager Vanguard Funds bought sizable stakes in both Silicon Valley Bank (US:SIVB) and Signature Bank (US:SBNY) in recent months, according to data compiled by Fintel.

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Finally, U.S. equities finished with gains and near the highs of the day, as investors sifted through the first look at February’s inflation picture. The Consumer Price Index (CPI) rose in line with estimates month-over-month, while the core rate—excluding food and energy—increased a little more than expected. On a year-over-year basis, both the headline and core rate declined, but remained elevated. In other economic news, small business optimism increased last month.

The banking sector remained in the headlines, with many banks climbing higher following sharp losses over the past few trading sessions. In other equity news, United Airlines fore-casted an adjusted Q1 loss, and Meta Platforms announced another round of layoffs that will begin tomorrow.

Treasury yields rebounded, especially at the shorter end of the curve, and the U.S. dollar was nearly unchanged, while crude oil prices tumbled, and gold traded lower.

Asian stocks fell as turmoil in the U.S. banking sector spilled over into the region, while European stocks climbed as investors digested the inflation data out of the U.S.

***

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DAILY UPDATE: Mortgage Rates Down–Stock Markets Up

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

By Staff Reporters

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The average rate on the popular 30-year fixed mortgage dropped to 6.57% according to Mortgage News Daily. If rates continue to drop now, buyers could return to the housing market once again. “This mini banking crisis has to drive a change in consumer behavior in order to have a lasting positive impact on rates. It’s still all about inflation,” said Matthew Graham, chief operating officer at Mortgage News Daily.
CITE: https://www.r2library.com/Resource/Title/082610254

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U.S. stocks turned mixed to close out the day up, which follows a sharp decline last week amid turmoil in the banking sector. The uneasiness that came after the recent collapses of SVB Financial and Silvergate Capital has been exacerbated by the closure of Signature Bank in New York over the weekend. In M&A news, Pfizer confirmed that it reached an agreement to acquire cancer drug maker Seagen in a transaction valued at about $43 billion.

Treasury yields tumbled, and the U.S. dollar dropped, while crude oil prices saw pressure, and gold rallied. The economic calendar was dormant today, but will heat up tomorrow as the Consumer Price Index (CPI) will be released, beginning the development of the February inflation picture.

Asia finished mixed, with Chinese and Hong Kong markets rising, and European stocks fell amid heightened volatility due to the turbulence in the banking sector.

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Follow-Up: Silvergate, Silicon Valley Bank and Signature Bank collapsed last week. All eyes are now on First Republic Bank.

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MANUAL MORTGAGE UNDERWRITING FOR DOCTORS: What is it, Really?

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

By Staff Reporters

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Editor’s Note: FHA manual underwriting guidelines were updated in 2020 and require that, for those applicants with credit scores below 620 or a debt-to-income (DTI) ratio that exceeds 43%, mortgage applications must be manually underwritten. For a fiercely frugal doctor, or debt adverse medical professional with “poor” credit because of little to no debt, this may actually be good for them. But, it may also make it difficult for a modern automated mortgage lender to issue a loan. Our debt ridden and consumer driven society is largely causative.

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

Consumption: https://medicalexecutivepost.com/2018/09/18/are-doctors-practitioners-of-conspicuous-consumption/

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With many Lenders now making automated lending decisions, much like emerging healthcare A.I. initiatives, it can seem confusing why others are still sticking to a manual process. But, a few physicians with little to no credit/debt history, and hence a low FICO score, may actually find it a bonus.

Banking A.I.: https://www.msn.com/en-us/money/companies/this-american-bank-is-closing-the-most-branches/ar-AAT3PvQ?li=BBnbfcL

Automated Decision Making

Many mortgage lenders currently use computer-based systems to assist with their lending decisions. These systems will look at your client’s credit score, borrowing history, etc. to decide whether or not to approve a mortgage application. It can then be argued that the value of an Underwriter is decreasing; much like physicians are slowly being devalued for many emerging reasons.

ORDER: https://www.amazon.com/Business-Medical-Practice-Transformational-Doctors/dp/0826105750/ref=sr_1_9?ie=UTF8& qid=1448163039&sr=8-9&keywords=david+marcinko

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So, Why Manual Underwriting?

Now, understand that not all [minority of clients] applicants will fit into the box that automated decision making systems like. Due to this, there is a need for manual decisions to be made, that will benefit both the Lender and the Borrower (client)!

Manual underwriting allows our Underwriters to look at the bigger picture and get a balanced view on the potential physician and/or client’s ability to repay the mortgage they are applying for. This means they can have a look at the overall risk to the Society and consider what conditions can be used to meet our lending policies. By using manual underwriting in every case, this embeds sensible and responsible decision making within the Society.

A hands-on approach means a look deeper into your financial position, and consider cases where physician clients may have:

Low credit scores;
Minimal credit history;
Self-employed applicants;
Applicants in fixed term employment contracts; and
Many more; like really a good personal risk profile.

Manual Underwriters

It is clear to see the benefits for the Society, and physicians, retrospectively. Some benefits of manual underwriting, according to experts David Cox and Richard Groom, include;

“I like that we can look at cases that many other high street lenders wouldn’t consider. This doesn’t mean we are risk takers; we just apply common sense”.

“I enjoy the hands-on approach we apply. Every applicant is different, so why should they all be pushed through an automated system?”

“Just because something doesn’t quite fit, it shouldn’t result in a computer says no decision. It’s great to be able to look at an individual’s situation and see what changes we can make to turn the negative to a positive”.

“The great thing about manual underwriting is that while our lending policy is the core of what we do, applying a manual approach means we can consider applications outside of this, where it benefits the borrower and the Society”.

MORE: https://www.bankrate.com/mortgages/manual-underwriting/

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What is Founder’s Stock Equity?

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

By Staff Reporters

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Characteristics of Founder’s Equity

Often, common stock issued to founders will be made subject to specific restrictions. This is normally carried out by placing limiting provisions in the stock grant agreement or by requiring founders to enter into shareholders’ agreements. The purpose of these agreements is to make the common stock similar in nature to preferred stock, which is generally issued to later investors in the company.

CITE: https://www.r2library.com/Resource/Title/0826102549

Commonly, founder’s stock will be subject to various conditions, as follows:

Restricted Shares – Restriction refers to a shareholder’s ability to sell or otherwise transfer the equity for a specific period. The restrictive provisions generally require that the shareholder offer the company the right to repurchase the shares before they can be transferred to any third parties. This is known as a “right of first refusal”. Also, if the company issues additional shares, the shareholder generally has the right to sell her shares along with the issuance. This is known as “co-sale rights”.

Vesting Schedule – A vesting schedule states that time period or period in the future when shareholders become full owners of the stock granted to them. The vesting term is generally 4 years, with no stock vesting until 12 months after the grant. Granting stock to shareholders subject to vesting makes certain that the shareholder remains loyal to (or perhaps remains an employee of) the company. If the shareholder leaves the company prior to shares vesting, she forfeits her ownership interest. To protect the shareholder, the stock grant generally provides for accelerated vesting if the company is sold, goes through a later equity financing, or the shareholder is an employee and fired without cause.

Super-voting Rights – This is where the class of stock grants the shareholder more than one vote per share. This is extremely important for early founders who wish to retain control of the company.

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DAILY UPDATE: Markets Unsteady after SVB Fails

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

By Staff Reporters

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According to MarketWatch, U.S. equity markets traded unevenly Sunday afternoon, in the aftermath of the failure of Silicon Valley Bank SIVB, -60.41% on Friday, which has cast a pall over the banking sector and damaged market sentiment. Futures for the Dow YM00, 0.86% were off 70 points or 0.2%, those for the S&P 500 ES00, 1.18% were virtually unchanged, while those for the Nasdaq-100 futures NQ00, 1.18% were about 0.3%.

MORE: https://medicalexecutivepost.com/2023/03/04/what-is-a-stock-market-index-implied-open/?preview=true

Over the weekend, the Federal Deposit Insurance Corporation was holding an auction for the assets of failed SVB Financial Group Capital, the parent of Silicon Valley Bank of California, according to reports. Discussions also were said to be underway involving the Federal Reserve to possibly create a fund to protect uninsured depositors.

Investors are assessing the SVB bank failure to see if it complicates the Fed’s plans to raise interest rates further and potentially faster than previously expected in its bid to tamp down inflation. SVB was closed by California regulators on Friday, in the second-largest in U.S. history, and taken over by the FDIC.

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

***

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***

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DAILY UPDATE: Daylight Saving Time Starts Amid Stock Market Declines

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

By Staff Reporters

***

***

Mar 12, 2023 – Daylight Saving Time Started

When local standard time was about to reach
Sunday, March 12, 2023, 2:00:00 am clocks were turned forward 1 hour to
Sunday, March 12, 2023, 3:00:00 am local daylight time instead.

***

Meanwhile, although markets are still pricing in additional Fed rate hikes at upcoming policy meetings, concerns about the financial sector have helped push down the expected “peak” rate.

The following is a round-up of Friday’s market activity:

The S&P 500 Index ended 56.73 points (1.5%) lower at 3,861.59, the benchmark’s lowest close since Jan. 5; the Dow Jones industrial average fell 345.22 points (1.1%) to 31,909.64; the NASDAQ Composite fell 199.47 points (1.8%) to 11,138.89.
The 10-year Treasury yield was down about 22 basis points at 3.704%.
April WTI crude oil futures were up 84 cents at $76.56 per barrel.
The U.S. Dollar Index was down 0.7% at 104.58.
CBOE’s Volatility Index was up 2.19 points at 24.8.

The Federal Deposit Insurance Corp.’s decision to shutter Silicon Valley Bank came a day after the bank, once a top lender in the tech sector, failed in an attempt to raise new capital. The bank’s collapse weighed heavily on shares of regional banks, though large institutions held up better.

***

ORDER: https://www.routledge.com/Comprehensive-Financial-Planning-Strategies-for-Doctors-and-Advisors-Best/Marcinko-Hetico/p/book/9781482240283

***

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Filed under: "Ask-an-Advisor", Alerts Sign-Up, LifeStyle | Tagged: CBOE, daylight saving time, DJIA, NASDAQ, S&P 500, Treasury Yield, US Dollar, WTI crude oil | Leave a comment »

DAILY UPDATE: Silicon Valley and Silvergate Banks Out as Domestic Markets Tank

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

By Staff Reporters

***

Financial regulators have closed Silicon Valley Bank and taken control of its deposits, the Federal Deposit Insurance Corp. announced yesterday, in what is the largest U.S. bank failure since the global financial crisis more than a decade ago.

The FDIC said in the announcement that insured depositors will have access to their deposits no later than Monday morning.
SVB’s branch offices will also reopen at that time, under the control of the regulator.
The FDIC’s standard insurance covers up to $250,000 per depositor, per bank, for each account ownership category.

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

***

And, the crypto company SB announced yesterday that it’s winding down operations and liquidating Silvergate Bank, which has about $11 billion in assets. Silvergate has been struggle throughout crypto’s downturn—especially after the collapse of FTX, one of its biggest customers. Last quarter, Silvergate fired 40% of its workforce, reported a $1 billion loss, and took out billions in loans…but apparently it wasn’t enough.

MORE: https://www.routledge.com/Comprehensive-Financial-Planning-Strategies-for-Doctors-and-Advisors-Best/Marcinko-Hetico/p/book/9781482240283

***

U.S. equities ended the day and week sharply lower, as the markets continued to look for hints regarding future monetary policy decisions. The moves came amid a flurry of news and economic data, as the February labor report showed stronger-than-expected job gains, and a lower-than-anticipated increase in wages, but a rise in the unemployment rate. The report was in stark contrast to January’s blowout figures, and seemed to soothe some of the anxiety over the Fed’s future actions.

In earnings news, Ulta Beauty handily beat estimates and provided upbeat guidance, and Oracle offered mixed quarterly results and increased its dividend, but Gap fell well short of expectations amid a tumble in online sales, and it saw a shakeup in management.

Treasury yields tumbled in the wake of the labor report and worries surrounding the banking sector, and the U.S. dollar was sharply lower, while crude oil and gold prices traded to the upside.

Asian stocks finished lower, and markets in Europe saw widespread losses, led by shares of banking companies, amid uncertainty regarding the overall effects of rate hikes.

***

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Filed under: "Ask-an-Advisor", Alerts Sign-Up, Ethics, iMBA, Inc., Information Technology, Investing, Portfolio Management | Tagged: Asian stocks, crypto, cryptocurrency, DJIA, FDIC, Federal Reserve, FTX, NASDAQ, oracle, S&P 500, Silicon Valley Bank, Silvergate Bank, SVB, Treasury yields, ulta beauty | Leave a comment »

DAILY UPDATE: Lawmaker’s Health Data Breach, BLS Report and the Crashing Bank & Stock Markets!

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

By Staff Reporters

***

***

The online health insurance marketplace for members of Congress and Washington, D.C., residents was subjected to a hack that compromised the personal identifying information of potentially thousands of lawmakers, their spouses, dependents and employees, according to a letter from House leaders informing their colleagues about the breach and a memo from the Senate’s top security official.

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

CITE: https://www.amazon.com/Dictionary-Health-Insurance-Managed-Care/dp/0826149944/ref=sr_1_4?ie=UTF8&s=books&qid=1275315485&sr=1-4

***

Today the U.S. Bureau of Labor Statistics (US-BLS) will report the number of jobs the U.S. economy added in February as well as other pertinent information surrounding the labor market. Officials at the Fed and investors have been watching the labor market very carefully, which has been red hot with the unemployment rate in January remaining near historic lows at 3.4%. Fed officials believe the tight labor market is empowering consumers to spend through rising consumer prices, which has made inflation sticky. Fed Chairman Jerome Powell has said previously the Fed would like to see some deterioration in the labor market to know that it’s winning its war with inflation.

CITE: https://www.r2library.com/Resource/Title/0826102549

Bank stocks plunged as investors assessed the potential fallout from the implosions of Silicon Valley Bank and Silvergate Capital.
SVB Financial surprised investors with lowered guidance, a $2.3 billion capital raise, and a massive $1.8 billion loss from its bond portfolio.
“This is sending shock waves through the financials with the regional bank ETF lower by 8%,” NYSE’s Michael Reinking said.

***

U.S. stocks declined to close out a choppy trading session, adding to weekly losses that followed this week’s hawkish Congressional testimony from Fed Chairman Jerome Powell. A larger-than-expected increase in weekly initial jobless claims seemed to offer a modest reprieve from the concerns about how aggressive the Fed may be.

The Financial sector saw pressure, as SVB Financial plummeted after selling securities for a loss, and Silvergate Capital dropped after announcing that it would shut down its bank operations and liquidate. As a result of the turmoil in the sector, the shares of numerous banks declined. In other equity news, Dow member American Express increased its share buyback plan and raised its dividend, while GE rallied as the Street cheered its long-term outlook.

Treasury yields were mostly lower with short-term rates giving back recent gains, and the yield curve steepened somewhat after inverting further on Powell’s testimony.

The U.S. dollar relinquished some of this week’s rally, while crude oil prices were lower, and gold traded to the upside.

Asian stocks finished mixed following some cooler-than-expected Chinese inflation reports, and Europe ended mostly lower, as the global markets continued to react to Fed Chair Powell’s comments.

***

ORDER: https://www.routledge.com/Comprehensive-Financial-Planning-Strategies-for-Doctors-and-Advisors-Best/Marcinko-Hetico/p/book/9781482240283

***

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Filed under: "Ask-an-Advisor", Alerts Sign-Up, Experts Invited, Financial Planning, Glossary Terms, Health Economics, Health Insurance, Information Technology, Investing, LifeStyle, Monthly Reports, Portfolio Management, Risk Management | Tagged: Asian stocks, bank stocks, BLS, DJIA, ETFs, European stocks, health insurance marketplace, HIT, IT, Michael Reinking, NASDAQ, NYSE, S&P 500, Treasury yields, US-BLS | Leave a comment »

DAILY UPDATE: Credit Suisse Down While US Equities Mixed

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

By Staff Reporters

***

***

CREDIT SUISSE:
Equities revenue plummeted 95% in the fourth quarter
CS earlier informally looked at options for unit -sources
CS declined comment on ‘rumors and speculation’, and
In the latest piece of troubling news, the beleaguered Swiss bank delayed the publication of its 2022 annual report following a “late call” from the US Securities and Exchange Commission on Wednesday evening. The SEC got in touch over revisions the bank had previously made to its cash flow statements for 2019 and 2020,

***

U.S. equities finished mixed following yesterday’s rout, as investors digested a second day of testimony from Fed Chair Jerome Powell. The Chairman remained hawkish in his commentary, where he suggested rates may need to accelerate more than initially expected and may need to stay higher for longer than originally anticipated. Adding to the uncertainty, the afternoon release of the Fed’s Beige Book showed little change from the last installment.

Treasury yields were mixed with the yield curve inversion worsening, and the U.S. dollar was flat after yesterday’s rally. Crude oil prices were lower, and gold was little changed in choppy action. News on the equity front was light, as CrowdStrike topped quarterly earnings estimates and offered upbeat guidance, while UPS reiterated its full-year outlook.

The economic calendar was tilted toward labor data, as job openings dipped but remained elevated, and ADP’s private sector employment report bested forecasts ahead of Friday’s key non-farm payroll release.

Elsewhere, mortgage applications snapped a three-week losing streak, and the trade deficit came in slightly smaller than projected. Asia finished mixed and Europe also diverged, as the global markets processed the testimony from Fed Chairman Powell.

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

***

ORDER: https://www.routledge.com/Comprehensive-Financial-Planning-Strategies-for-Doctors-and-Advisors-Best/Marcinko-Hetico/p/book/9781482240283

***

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Filed under: "Ask-an-Advisor", Ethics, Insurance Matters, Investing, Marketing & Advertising | Tagged: asian stocks., beige book, Credit Suisse, CrowdStrike, DJIA, European stocks, FOMC, gas, Jerome Powell, NASDAQ, oil, S&P 500, Treasury yields, UPS | Leave a comment »

DAILY UPDATE: Bond Market Recession Gauge Plunges Triple Digits Below Zero as Stock Markets Collapse

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

By Staff Reporters

***

***

The Dow Jones Industrial Average decreased 575 points (1.7%) to 32,856, the S&P 500 Index was 62 points (1.5%) lower at 3,986, and the NASDAQ Composite lost 145 points (1.3%) to 11,530. In moderate volume, 3.8 billion shares of NYSE-listed stocks were traded, and 5.3 billion shares changed hands on the NASDAQ. WTI crude oil fell $2.88 to $77.58 per barrel. Elsewhere, the gold spot price tumbled $34.80 to $1,819.80 per ounce, and the Dollar Index jumped 1.2% to 105.59.

***

And, a key recession indicator flashed its loudest warning ever after Federal Reserve Chairman Jerome Powell said benchmark rates will likely go higher than once anticipated. The inversion between the 2-year and 10-year Treasury yields hit a record 103.5 basis points on Tuesday, according to Refinitiv data. It later narrowed to 102.4 basis points. In normal economic times, shorter-term yields are below longer-term yields. But for months, the 2- and 10-year yields have been inverted amid growing recession fears, as the Fed continues to tighten policy to rein in inflation. The 2-year yield currently sits at 4.992% while the 10-year yield is 3.968%. Meanwhile, there’s a 61.6% probability the Fed will raise its benchmark rate by 50 basis points on March 22, up from 31.4% a day earlier.

***

Finally, the economic calendar introduced a read on wholesale inventories, which was un-revised from the preliminary report at a m/m decline in January. Meanwhile, consumer credit for January expanded at a slower-than-expected pace. Q4 earnings season continues to wrap up, as Dick’s Sporting Goods bested earnings estimates, raised its quarterly dividend, and issued full-year guidance that came in above forecasts. In other equity news, Meta Platforms is planning another round of layoffs that could affect thousands of workers, according to a Bloomberg News report.

Treasury yields were mixed, and the U.S. dollar rallied, while crude oil and gold prices were sharply lower.

Asian stocks ended mixed following the Reserve Bank of Australia’s 25 bp rate hike, and European stocks were lower, as international investors digested Powell’s comments.

***

ORDER: https://www.routledge.com/Comprehensive-Financial-Planning-Strategies-for-Doctors-and-Advisors-Best/Marcinko-Hetico/p/book/9781482240283

***

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Filed under: "Ask-an-Advisor", Alerts Sign-Up, Financial Planning, iMBA, Inc., Investing, LifeStyle | Tagged: Bloomberg, Bond Market Recession Gauge, Dick's Sporting Goods, DJIA, fed, Federal Reserve, FOMC, Jerome Powell, Meta Platform's, NASDAQ, oil, S&P 500, Treasury yields, WTI crude oil | Leave a comment »

DAILY UPDATE: U.S. Stocks Subdued

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

By Staff Reporters

***

***

U.S. stocks were subdued in a choppy trading session, as the markets struggled to add to last week’s gains that snapped a string of weekly losses.

Treasury yields went up and the U.S. dollar was lower ahead of this week’s two-day Congressional testimony from Fed Chairman Jerome Powell. Crude oil prices rose, and gold traded slightly to the downside.

Equity news was light with Q4 earnings season mostly in the books, though Tesla announced that it reduced the price of its pricier models in the U.S. for the second time this year, and Ciena Corporation topped earnings forecasts. The economic week began with a read on factory orders that fell less than expected. Additionally, durable goods orders were unchanged from the preliminary report, while excluding transportation, orders were unexpectedly revised upward.

Asian stocks finished mostly higher even as China offered a conservative economic growth outlook, and markets in Europe were mixed following some lackluster data.

***

ORDER: https://www.routledge.com/Comprehensive-Financial-Planning-Strategies-for-Doctors-and-Advisors-Best/Marcinko-Hetico/p/book/9781482240283

***

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DAILY UPDATE: Silvergate Capital and Tesla Down Amid “Arm” IPO

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

By Staff Reporters

***

***

Shares of cryptocurrency bank Silvergate Capital plummeted 57% last week after the company delayed its annual financial report and warned investors that it may not survive the recent “crypto winter.” In a filing with the Securities and Exchange Commission, Silvergate said it is “analyzing certain regulatory and other inquiries and investigations that are pending.”

CITE: https://www.r2library.com/Resource/Title/0826102549

***

Electric vehicle company Tesla unveiled its latest “master plan” at its highly anticipated analyst and investor meeting but Tesla shares dropped 5.9% amid criticism from analysts that the presentation by CEO Elon Musk lacked clarity and details. Musk reiterated Tesla’s goal of increasing its annual EV production from 1.3 million vehicles in 2022 to 20 million by 2030.

***

Chip designer shuns London to list in NYC: UK-based Arm—a company whose tech is inside almost every smartphone—used to be listed in London before being taken private by Softbank. Yesterday it said it’s planning an IPO in New York. The British government has been trying to woo the company to relist in London, and Arm said it wasn’t ruling out a future London IPO. But it’s a big loss for London for now, and it heightens concerns that the UK market is not competitive internationally. Investment bankers are pegging the company’s valuation between $30 billion and $70 billion, per Bloomberg.

***

ORDER: https://www.routledge.com/Comprehensive-Financial-Planning-Strategies-for-Doctors-and-Advisors-Best/Marcinko-Hetico/p/book/9781482240283

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DAILY UPDATE: E.S.G. Investing is Down but Markets are Up as Marc Benioff Speaks

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

By Staff Reporters

***

***

The US Senate passed a disapproval resolution formally killing a Department of Labor rule that encourages private retirement plan fiduciaries to consider environment, social and governance (ESG) factors when making investment decisions for over 150 million Americans. ESG is a framework that helps stakeholders understand how an organization is managing risks and opportunities related to environmental, social, and governance criteria (sometimes called ESG factors). ESG is an acronym for Environmental, Social, and Governance. ESG takes the holistic view that sustainability extends beyond just environmental issues. While the term ESG is often used in the context of investing, stakeholders include not just the investment community but also customers, suppliers, and employees, all of whom are increasingly interested in how sustainable an organization’s operations are.

***

Stocks Shake Off Fed Uncertainty, Rise in Interest Rates: U.S. equities rallied into the close to finish near the highs of the day, as investors appeared to shake off the persistent rise in interest rates. The markets also digested some earnings reports, as shares of Dow member Salesforce jumped after topping expectations, and Macy’s also moved solidly higher after besting the Street’s forecasts.

However, disappointing guidance from Best Buy took some of the luster of its earnings beat. Elsewhere, the economic calendar added to the Fed uncertainty, as jobless claims unexpectedly dipped, while Q4 productivity was revised lower and unit labor costs were adjusted to the upside. Treasury yields continued their ascent, and the U.S. dollar gained solid ground, while crude oil prices edged higher in choppy trading, and gold was slightly lower.

Asia finished mixed, and Europe posted gains across the board, as the global markets continued to wrestle with recent data.

***

Finally, Marc Benioff is bracing for a recession that shows shades of the dot-com crash and financial crisis. The Salesforce CEO is shifting his focus from sales and deals to efficiency and profitability. Benioff warned that falling stocks and recession fears dampen corporate spending.

***

ORDER: https://www.routledge.com/Comprehensive-Financial-Planning-Strategies-for-Doctors-and-Advisors-Best/Marcinko-Hetico/p/book/9781482240283

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