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DAILY UPDATE: Stock Markets Rocket Upward

Posted on January 11, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Investors are a day away from an inflation report that may offer some direction in a young year that has seen markets meander, with a brief sell-off and a partial rally back. More action may come as Wall Street banks kick off earnings season on Friday.

Here is where the major benchmarks ended:

The S&P 500 index rose 26.95 points (0.6%) to 4,783.45, a two-year closing high; the Dow Jones Industrial Average^® (DJI) increased 170.57 points (0.5%) to 37,695.73; the NASDAQ Composite gained 111.94 points (0.8%) to 14,969.65.
The 10-year Treasury note yield (TNX) added about 2 basis points to 4.04%.
The CBOE^® Volatility Index (VIX) fell 0.06 to 12.70.

Among market sectors, the S&P 500 Communication Services Index (SP500#50), which includes “mega-cap” tech companies like Google parent Alphabet (GOOGL) and Facebook parent Meta Platforms (META), gained 1.2% and ended near a two-year high. Consumer discretionary shares were also firm. Energy stocks were one of the weakest performers behind a 1.3% drop in crude oil futures.

Peterson noted strength in tech shares may in part reflect news from this week’s Consumer Electronics Show in Las Vegas, with escalating bullishness surrounding artificial intelligence (AI) driving further gains in Nvidia (NVDA) and other chip companies capable of serving the most advanced forms of AI. Nvidia has jumped more than 10% so far this week and posted a record high for the third straight day.

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DOWN: Digital Health Care Funding

Posted on January 11, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

By Dr. David Edward Marciniko MBA CMP™

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DEFINITION: According to the Food and Drug Administration [FDA], the broad scope of digital health includes categories such as mobile health (mHealth), health information technology (IT), wearable devices, tele-health and tele-medicine, and personalized medicine. From mobile medical apps and software that support the clinical decisions doctors make every day to artificial intelligence and machine learning, digital technology has been driving a revolution in health care. Digital health tools have the vast potential to improve our ability to accurately diagnose and treat disease and to enhance the delivery of health care for the individual. Digital health technologies use computing platforms, connectivity, software, and sensors for health care and related uses. These technologies span a wide range of uses, from applications in general wellness to applications as a medical device. They include technologies intended for use as a medical product, in a medical product, as companion diagnostics, or as an adjunct to other medical products (devices, drugs, and biologics). They may also be used to develop or study medical products.

Cite: http://tinyurl.com/2jbafuc7

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As many investors predicted, digital health funding took a dive in 2023, according to Rock Health’s year-end funding report. Startups got creative to stay afloat but many digital health founders will have to “face the music” in 2024, the VC firm’s analysts say.

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Editor’s Note: I am on the Advisory Board of Medblob™a start-up based in Boston, MA. The digital mission of Medblob™ is to improve community and national health by allowing patients to better manage their health, providers to better treat their patients, and researchers to have the best information to discover cures to the most prevalent and pernicious diseases.

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DAILY UPDATE: Stocks Rocket Back for Highest 2024 Close as Key Inflation Updates Loom

Posted on January 9, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Here is where the major benchmarks ended:

Bond yields and stock prices often move inversely to each other, in part because higher interest rates on virtually risk-free bonds lower the premium investors can expect from riskier assets like stocks, making it less appealing to buy equities. Last week, the 10-year Treasury yield briefly increased to 4.10%, near a three-week high, before dropping back near 4% Monday.

The S&P 500 index was up 66.30 points (1.4%) at 4,763.54; the Dow Jones Industrial Average was up 216.90 points (0.6%) at 37,683.01; the NASDAQ Composite was up 319.70 points (2.2%) at 14,843.77.
The 10-year Treasury note yield (TNX) was down about 3 basis points at 4.015%.
The CBOE^® Volatility Index (VIX) was down 0.28 at 13.07.

Semiconductors shares were among the strongest performers, helped by a surge of 6.4% in Nvdia Corp. (NVDA), the top 2023 performer in the S&P 500 with a gain of 239%. Small-cap stocks were also firm as were consumer discretionary and communication services. The Russell 2000^® Index (RUT) gained 1.9% to partly climb back from last week’s 3.7% drop.

Energy shares were soft because crude oil futures sank nearly 4% following reports Saudi Arabia lowered its prices.

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DAILY UPDATE: Crypto-Currency, ETFs and the Stock Markets

Posted on January 8, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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The Markets as of 10:00am ET. Here’s what these numbers mean.

Markets: One week into 2024, stocks and bonds are off to their worst start in 21 years as investors maybe got a bit ahead of their skis in anticipating Fed rate cuts.

This week, Wall Street will be focused on fresh inflation data and the beginning of Q4 earnings season.

Bitcoin ETF cleared for launch? The first spot bitcoin ETF—could be approved by regulators this week in what would be a watershed moment for Wall Street’s embrace of digital tokens. The hype around these proposed funds, which would allow regular investors to gain exposure to bitcoin without buying it directly, drove bitcoin’s price up 162% over the past year.

Here is where the major benchmarks ended:

The S&P 500 Index was up 84.15 points (1.9%) at 4,495.70; the Dow Jones Industrial Average (DJI) was up 489.83 points (1.4%) at 34,827.70; the NASDAQ Composite (COMP) was up 326.64 points (2.4%) at 14,094.38.
The 10-year Treasury note yield (TNX) was down about 18 basis points at 4.453%.
CBOE’s Volatility Index (VIX) was down 0.60 at 14.16.

The small-cap focused Russell 2000 Index (RUT), which has lagged large-cap benchmarks for most of the year, jumped more than 5% Tuesday. Small-caps are often seen as being more exposed to the economic cycle and had suffered because of concerns that high interest rates could push the economy into recession.

Other interest rate-sensitive sectors, such as real estate, materials, and utilities, also saw outsize gains.

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DAILY UPDATE: Walgreens’s Dividend Dives as Stocks Post Down Week

Posted on January 6, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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DEFINITION: A stock dividend is a payment to shareholders that consists of additional shares rather than cash. The distributions are paid in fractions per existing share. For example, if a company issues a stock dividend of 5%, it will pay 0.05 shares for every share owned by a shareholder. The owner of 100 shares would get five additional shares.

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Stat: 3.9%. That’s Walgreens’s new dividend yield after the pharmacy chain cut its quarterly dividend of 7.0%. The company said that it was using the money to “strengthen [its] long-term balance sheet and cash position.” Walgreens stock fell 11% the day after the announcement. (CNBC)

Here is where the major benchmarks ended:

The S&P 500 index was up 8.56 points (0.2%) at 4,697.24, down 1.6% for the week; the Dow Jones Industrial Average^® (DJI) was up 25.77 points (0.1%) at 37,466.11, down 0.6% for the week; the NASDAQ Composite^® (COMP) was up 13.77 points (0.1%) at 14,524.07, down 3.2% for the week.
The 10-year Treasury note yield (TNX) was up about 6 basis points at 4.051%.
The CBOE^® Volatility Index (VIX) was down 0.77 at 13.36.

Consumer staples and real estate ranked among the market’s weakest performers Friday, and technology shares remained under pressure with tech bellwether Apple (AAPL) extending this week’s nearly-6% slide and ending near a two-month low. Financial shares were one of the stronger sectors with the Philadelphia KBW Bank Index (BKX) rising 1.6% to a 10-month high. Small-cap stocks remained in the red with the Russell 2000^® Index (RUT) ending the week down 3.7%.

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DAILY UPDATE: Second Apple Downgrade with Mixed Markets as Investors Await Payroll Data and Lilly Sells Medications Directly to Patients

Posted on January 5, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Here’s where the major benchmarks ended:

The S&P 500^® index (SPX) was down 16.13 points (0.3%) at 4,688.68; the Dow Jones Industrial Average^® (DJI) was up 10.15 points at 37,440.34; the NASDAQ Composite was down 81.91 points (0.6%) at 14,510.30.
The 10-year Treasury note yield (TNX) was up about 9 basis points at 3.997%.
The CBOE^® Volatility Index (VIX) was up 0.08 at 14.12.

Oilfield services and consumer discretionary shares were also among the market’s weakest performers Thursday. Banking and health care were among the strongest sectors, illustrating renewed investor interest in stocks that lagged the broader market last year.

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And, Eli Lilly is poised to sell medicine directly to consumers — with an emphasis on newly popular weight-loss drugs — in a move toward cutting out the controversial middle players in drug distribution.

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DAILY UPDATE: Technology Stocks Tank on Perihelion Day

Posted on January 4, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Today the Earth is the closest it can get to the sun, a point in orbit known as perihelion, which happens every year two weeks after the December solstice.

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Here’s where the major benchmarks ended:

The S&P 500^® index (SPX) was down 38.02 points (0.8%) at 4,704.81; the Dow Jones Industrial Average^® (DJI) was down 284.85 points (0.8%) at 37,430.19; the NASDAQ Composite was down 173.73 points (1.2%) at 14,592.21.
The 10-year Treasury note yield (TNX) was down about 3 basis points at 3.91%.
The CBOE^® Volatility Index (VIX) was up 0.84 at 14.04.

In addition to tech shares, retailers and banks were also among the market’s weakest performers Wednesday. Small-cap stocks were also under pressure with the Russell 2000^® Index (RUT) down about 2.7% to a three-week low. Energy shares strengthened behind a jump of nearly 4% in crude oil futures.

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DAILY UPDATE: Apple and the “Magnificent 7” Stocks Drop with the Markets

Posted on January 3, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Driving much of the tech slump was a 4% drop by Apple’s stock, a dive precipitated by an analyst downgrade questioning why the $2.9 trillion (market capitalization) company is trading at such an expensive valuation considering its negative earnings and profit growth.

Other members of the “magnificent seven” tech stocks, which gained a collective $5.1 trillion in market cap last year, also flailed Tuesday. Alphabet, Amazon, Meta, Microsoft, Nvidia and Meta each fell 1.6% or more, while Tesla was the sole magnificent seven member in the green, as its shares slipped less than 1% after reporting more fourth-quarter electric vehicle deliveries than fore-casted.

Here is where the major benchmarks ended:

The S&P 500 index was down 27.00 points (0.6%) at 4,742.83; the Dow Jones Industrial Average® (DJI) was up 25.50 points (0.1%) at 37,715.04; the NASDAQ Composite was down 245.41 points (1.6%) at 14,765.94.
The 10-year Treasury note yield (TNX) was up about 7 basis points at 3.931%.
The CBOE^® Volatility Index (VIX) was up 0.73 at 13.18.

Semiconductor companies led the way lower Tuesday after Bloomberg reported Netherlands-based ASML Holding NV (ASML) canceled shipments of some of its machines to China at the request of U.S. President Biden’s administration weeks before export bans on the high-end chipmaking equipment came into effect. The Philadelphia Semiconductor Index (SOX) tumbled 3.7%. Health care and energy sectors were among the few areas of strength, the latter gaining despite a 1.6% drop in crude oil futures.

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DAILY UPDATE: ChristianaCare Settles FCA Lawsuit as Stock Markets Celebrate 2023 but Start Off Rocky in 2024

Posted on January 2, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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ChristianaCare agreed to pay $47.1 million to resolve illegal kickback allegations flagged by its former chief compliance officer.

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Markets: The stock market was closed yesterday to give investors time to celebrate New Year’s Day 2024. As the just passed old year, 2023, provided plenty of reasons to pop bottles and celebrate:

For example, global stock markets had their best year since 2019, and all three major US indexes finished the year higher than they started it, with tech company gains pushing the NASDAQ up the most. Even among tech giants, Nvidia was a standout, boosted by A.I. suddenly being everywhere.

But, all major markets are down as of this posting time, today.

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HAPPY NEW YEAR: From All of Us at the ME-P

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

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www.CERTIFIEDMEDICALPLANNER.org

www.MARCINKOASSOCIATES.com

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EDUCATION: https://marcinkoassociates.com/textbooks-academic-catalog/

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From us all to you and yours.
Here’s to making a difference and paying it forward today, in 2024, and beyond.

THANK YOU

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DAILY UPDATE: S&P 500 is High as McKinsey Settles Opioid Claims

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

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The S&P 500 has climbed about 24% in 2023, hovering right around its all-time high. And, the NASDAQ Composite is up 44%, although the tech-heavy index still has some ground to cover before it starts carving out new all-time highs of its own.

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By Staff Reporters

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Consulting firm McKinsey and Co. has agreed to pay $78 million to settle claims from insurers and health care funds that its work with drug companies helped fuel an opioid addiction crisis. The agreement was revealed late Friday in documents filed in federal court in San Francisco. The settlement must still be approved by a judge.

Under the agreement, McKinsey would establish a fund to reimburse insurers, private benefit plans and others for some or all of their prescription opioid costs. The insurers argued that McKinsey worked with Purdue Pharma – the maker of OxyContin – to create and employ aggressive marketing and sales tactics to overcome doctors’ reservations about the highly addictive drugs. Insurers said that forced them to pay for prescription opioids rather than safer, non-addictive and lower-cost drugs, including over-the-counter pain medication. They also had to pay for the opioid addiction treatment that followed.

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DAILY UPDATE: Stocks Fall on Last Day of a Strong 2023 Year

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

By Staff Reporters

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Here’s where the major benchmarks ended:

The S&P 500 index fell 13.52 points (0.28%) to 4,769.83; the Dow Jones Industrial Average^® was down 20.56 points (0.05%) at 37,689.54; the NASDAQ Composite^® (COMP) was down 83.78 points (-0.56%) at 15,011.35.
The 10-year Treasury note yield (TNX) rose nearly 2 basis points to 3.86%.
The CBOE^® Volatility Index (VIX) finished nearly unchanged at 12.51, still near recent four-year lows.

The S&P 500 and Dow Jones Industrial Average posted their ninth consecutive weekly advances, but the NASDAQ Composite finished slightly lower for the week, hurt in part by a soft performance from Apple (AAPL). The Russell 2000^® Index (RUT) fell 1.18% on Friday but climbed 15% for the year.

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DAILY UPDATE: Another Health System Data Breach as the “Magnificent Seven” Stocks End Mixed

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

By Staff Reporters

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A health system in Michigan has experienced its second cybersecurity breach this year, affecting more than 1 million patients, according to state officials. Michigan Attorney General Dana Nessel announced Tuesday there was a breach at HealthEC, a vendor that provides services to Corewell Health’s southeast Michigan properties. The breach exposed patients’ personal and medical information.

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With Nvidia and Tesla on the rise, acronyms like FAANG and MAMAA no longer cut it: The top tech giants (Amazon, Alphabet, Apple, Meta, Google, plus Nvidia and Tesla) have now been dubbed the “Magnificent Seven.” Buoyed by the generative AI gold rush, they were responsible for 29% of the S&P 500’s total value.

Here is where the major benchmarks ended:

Here’s where the major benchmarks ended:

The S&P 500 index was up 1.77 points at 4,783.35; the Dow Jones Industrial Average was up 53.58 points (0.1%) at 37,710.10; the NASDAQ Composite^® (COMP) was down 4.04 points at 15,095.14.
The 10-year Treasury note yield (TNX) was up nearly 6 basis points at 3.844%.
The CBOE^® Volatility Index (VIX) was up 0.03 at 12.46.

The S&P 500, Dow Jones Industrial Average, and NASDAQ Composite are all on track for a ninth consecutive weekly advance. Other parts of the market Thursday turned in mixed performances. The Russell 2000^® Index (RUT) fell 0.4% but is still on track for a seventh consecutive weekly gain and has climbed 17% for the year.

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DEFLATION: Another Holiday Surprise?

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

By Staff Reporters

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Deflation could be arriving this holiday season. Walmart CEO Doug McMillon recently said deflation may be on the horizon, citing a decline in the prices of grocery items such as chicken and eggs. McMillion said that although some items like beef remain expensive, he expects prices on other staples to come down in the coming months.

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It’s the latest welcome news for everyone feeling the squeeze from inflation and rising interest rates.

Target Chief Growth Officer Christina Hennington said earlier this week that the average price of basics fell three percentage points between Q2 and Q3.
JCPenney announced last month that it planned to keep prices for Black Friday the same or lower than last year.

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DAILY UPDATE: 2023 Business Start-Up Failure Review with Stock Market Gains

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

By Staff Reporters

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3,200 business startups failed in 2023, according to PitchBook data. Those startups raised more than $27 billion combined, or roughly the 2022 GDP of Cambodia. (Business Insider).

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Here’s where the major benchmarks ended:

The S&P 500 index was up 6.83 points (0.1%) at 4,781.58; the Dow Jones Industrial Average was up 111.19 points (0.3%) at 37,656.52; the NASDAQ Composite^® (COMP) was up 24.60 points (0.2%) at 15,099.18.
The 10-year Treasury note yield was down over 9 basis points at 3.791%.
The CBOE^® Volatility Index (VIX) was down 0.49 at 12.50.

Small-cap stocks continued a strong finish to the year as the Russell 2000^® Index (RUT) gained 0.3% to settle at its highest level since April 2022. Retailer shares were among the market’s strongest performers amid reports of strong holiday sales. The S&P Retail Select Industry Index (SPSIRE) rose 0.6% and ended near an 11-month high.

In other markets, the U.S. dollar traded around $1.11 versus the euro (EUR/USD), its weakest level since late July and a reflection of expectations that lower rates in the United States will prompt investors to seek higher returns elsewhere.

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IRS: A Late PayPal Gift for 2023 Tax Returns

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

GOODBYE FORM 1099-Ks

By Staff Reporters

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The IRS just said it is again delaying the implementation of a 2021 law that requires payment platforms such as Venmo, Paypal or Cash App to send tax forms called 1099-Ks to anyone who received more than $600 in the current tax year.

It’s the second consecutive year the IRS has delayed enacting the new regulation, after the tax agency last year pushed off the new law until 2023. On Tuesday, the IRS said it will push the regulation back another year “to reduce taxpayer confusion” after hearing from taxpayers, tax professionals and payment processors.

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DAILY UPDATE: Holiday Spending Solid as Stock Market Rally Continues

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

By Staff Reporters

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Consumer spending grew solidly this holiday season, rebuking concerns of a slowdown and reinforcing positive signals about the U.S. economy as it approaches the end of a tumultuous year.

Buying among shoppers rose 3.1% over the holidays compared to the same period last year, according to data released on Tuesday by Mastercard SpendingPulse, which measures in-store and online purchases from November 1st to December 24th across all forms of payment. The data is not adjusted for inflation.

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Here’s where the major benchmarks ended:

The S&P 500 index was up 20.12 points to 4,774.75 up 0.42%; the Dow Jones Industrial Average was up 159.36 points at 37,54533, up 0.2% ; the NASDAQ Composite^® (COMP) was up 81.6 points to 15,074.57 up 0.54% to start the week.
The 10-year Treasury note yield (TNX) was down 1 basis point to 3.895%.
The CBOE^®Volatility Index (VIX) was down 0.38% to 12.98.

Small-cap stocks continued to outpace their larger cousins, a common theme lately. The Russell 2000^® Index rose Tuesday following six weeks of gains. Financials and real estate sectors were among strongest S&P 500 performers during the session, and the Russell 2000 has a heavy exposure to financials. In other markets, the U.S. Dollar Index (DXY) extended its recent slide and now trades at five-month lows, reflecting ideas that potentially lower interest rates may prompt investors to seek higher returns elsewhere.

With just three trading days left in 2023, the S&P 500 and other major equity benchmarks are poised to turn in a strong year that may more than make up for 2022’s losses. With Tuesday’s gains factored in, the SPX is closing in on its all-time high close just below 4,800 posted in early 2022. Through Tuesday, the S&P 500 was up more than 24% for the year, after tumbling 19.4% in 2022. The Dow Jones Industrial Average and the NASDAQ Composite were up 13% and 44%, respectively, after losing 8.8% and 33% in 2022.

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HOLIDAY BONUS: Wall Street is Down

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

By Staff Reporters

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For the second straight year, Wall Street bankers should prepare for smaller bonuses this holiday season, according to a report from consulting firm Johnson Associates. Cash bonuses for investment bankers in particular could shrivel up to 25% compared to 2022. Now, bonuses often account for a huge share of bankers’ total compensation. In some cases, they can be double their salary. That adds up to tens of billions of dollars in Wall Street’s bonus pot, which hit an all-time high in 2021.

But two years later, the economy looks a lot different.

For example, IPOs have slowed, interest rates are up, and we’re down a few banks. Investment bankers aren’t the only ones feeling the effects:

Regional bankers are likely to see bonuses fall 10%–20%.
Workers in asset management and sales could get 5%–10% less this year.
The only groups expected to receive bonus bumps this year are wealth managers and retail or commercial bankers at major global banks. Goldman Sachs is also reportedly considering bigger (but still unspecified) bonuses to keep top traders.

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What is the SANTA CLAUS Stock Market Rally?

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

LATE DECEMBER – EARLY JANUARY RISE

By Staff Reporters

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RALLY: A rally is a period of sustained increases in the prices of stocks, bonds or indices … An increase in prices during a primary trend bear market is called a bear market rally. A bear market rally is sometimes defined as an increase of 10% to 20%.

Now, a Santa Claus Rally describes a sustained increase in the stock market that occurs in the last week of December through the first two trading days in January. There are numerous explanations for the causes of a Santa Claus rally including tax considerations, a general feeling of optimism and happiness on Wall Street, and the investing of holiday bonuses.

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Another theory is that some very large institutional investors, a number of which are more sophisticated and pessimistic, tend to go on vacation at this time, leaving the market to retail investors, who tend to be more bullish.

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A Financial Early “Christmas Eve Carol” [Parts 1 and 2]

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

By Rick Kahler MS CFP®

http://www.KahlerFinancial.com

For me, the Christmas season doesn’t seem complete without Charles Dickens’s A Christmas Carol. I’ve long been captivated by the transformation of the cold-hearted and calculating Mr. Scrooge, the seemingly inherent goodness of Bob Cratchit, and the haunting visits of the Ghosts of Christmas.

As a student of Dickens’s fable, I’ve been amazed at the wisdom and universal truths contained in that seemingly simple story. I have discovered that Mr. Scrooge isn’t merely the villain he’s often made out to be, nor is Cratchit the straightforward hero.

It’s not uncommon for the average American to have a stressful, even adversarial relationship with money, especially since half of Americans have no savings or investments and live month to month. Stress over money is especially exacerbated during the Christmas season each year. Many Americans borrow heavily on credit cards for gifts and end up stressing for months afterward trying to pay the bill.

Financial Transformations

How ironic that what Dickens unveils in the short A Christmas Carol is a powerful process for financial transformation (or any desired transformation). Dickens gives us a four-step process that anyone can employ to change destructive financial behaviors.

A few years ago I co-authored a book, The Financial Wisdom of Ebenezer Scrooge that highlights the subtle wisdom of Dickens’s story as it pertains to transforming one’s behavior around finances. The story became the heart of a successful model employed by financial planners and therapists to help transform a person’s relationship with money.

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The Story

The first big event in the story is the visit to Scrooge by the ghost of his old business partner, Jacob Marley. Scrooge takes to heart Marley’s warning to change his ways, thereby becoming willing to consider changing. Psychologists would call this an intervention.

The first and most important step toward transformation needs to be a personal realization that something is amiss with your behavior and it’s you who wants to contemplate changing, as opposed to someone else insisting you ought to or should change. Meaningful and sustainable change comes only from within, not without. Blaming personal financial problems on family, employers, the wealthy, or the government just keeps a person stuck in delusion.

What is the key to developing an internal desire to change? Addiction recovery programs call this “hitting bottom.” I describe it as reaching a state of openness to accept the facts and circumstances as they are, not as you wish they were. It is becoming convinced that change is crucial and that you are passionately ready to take action to change.

On that Christmas Eve, inexplicably, Scrooge was finally ready consider the message his old friend Marley had tried to deliver to him on many Christmas Eves previously.

In the book Changing for Good, psychologist James O. Prochaska and his co-authors describe this as moving from the stage of pre-contemplation to contemplation. Scrooge was willing to consider that his firmly entrenched world view might be skewed and to consider seeing the facts for what they were, not as he assumed they were.

***

We may not be misers like Scrooge, but when it comes to our beliefs around money, we have as many delusions as he did. A few of the more popular of these beliefs, or money scripts, are: “More money is the answer,” “The stock market is a gamble,” “I work hard so I deserve to spend money,” and, “If I work hard I will make money.”

Assessment

Becoming willing to consider change is half the battle to free ourselves from destructive financial behavior based on these delusions. But it is only half. Next time we will look at three additional steps to transformation.

Part 2: A Financial “Christmas Carol” [Part 2]

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IRS: Gift and Estate Tax Exempt Limits Increased

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

By Staff Reporters

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Annual Gift Tax Exclusion Increased

Currently, you can give any number of people up to $17,000 each in a single year without taxation. For 2024, this will be increased to $18,000. For married couples, $36,000 will be available to be given to beneficiaries, tax-free, beginning next year.

Lifetime Gift Tax Exemption

Additionally, the IRS has announced that the lifetime estate and gift tax exemption will increase to $13.61 million in 2024. If a gift exceeds the annual limit ($17,000 this year, $18,000 in 2024), that does not automatically prompt a gift tax. The difference is simply taken from the person’s lifetime exemption limit and no taxes are owed.

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DAILY UPDATE: Happy “Festivus” with Drug Delays as the Stock Market Win Streak Continues

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

By Staff Reporters

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Festivus is a secular holiday on December 23rd as an alternative to the pressures and commercialism of the Christmas Season. Originally created by author Daniel O’Keefe, Festivus entered popular culture after it was made the focus of the 1997 Seinfeld episode which O’Keefe’s son, Dan,co-wrote.

The non-commercial holiday’s celebration includes a Festivus dinner, an unadorned aluminum Festivus pole, practices such as the “airing of grievances” and “feats of strength”, and the labeling of easily explainable events as “Festivus miracles”. The TV episode refers to it as “a Festivus for the rest of us”.

It has been described both as a parody holiday festival and as a form of playful consumer resistance. Journalist Allen Salkin describes it as “the perfect secular theme for an all-inclusive December gathering”.

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(Bloomberg) — Drug-makers are slow-walking products to market to get around President Joe Biden’s plan to lower medication prices.

Companies from Roche Holding AG to biotech Alnylam Pharmaceuticals Inc. are among those delaying or evaluating therapies in light of the government’s new ability to negotiate for lower prices. Firms that normally try to sell drugs as soon as possible are suspending clinical trials and shifting timelines, while patient groups are demanding change.

Here is where the major benchmarks ended:

Here’s where the major benchmarks ended:

The S&P 500 index was up 7.88 points (0.2%) at 4,754.63, up 0.8% for the week; the Dow Jones Industrial Average was down 18.38 points at 37,385.97, up 0.2% for the week; the NASDAQ Composite^® (COMP) was up 29.11 points (0.2%) at 14,992.97, up 1.2% for the week.
The 10-year Treasury note yield (TNX) was up about 1 basis point at 3.901%.
The CBOEe^® Volatility Index (VIX) was down 0.62 at 13.03.

Small-cap stocks continued a strong finish to the year. The Russell 2000^® Index (RUT) rose 0.8% Friday to end at its highest level since April 2022 and rose 2.5% for the week, the small-cap benchmark’s sixth consecutive weekly gain. Regional banks and utilities were also among the strongest performers. In other markets, the U.S. Dollar Index (DXY) extended its recent slide and dropped to its weakest level since late July, reflecting ideas an outlook for lower interest rates may prompt investors to seek higher returns elsewhere.

Finally, with just four trading days left in 2023, the S&P 500 and other major equity benchmarks are poised to turn in a strong year that may more than make up for 2022’s losses. Through Friday, the S&P 500 was up nearly 24% for the year, after tumbling 19.4% in 2022. The Dow Jones Industrial Average and the NASDAQ Composite were up 13% and 43%, respectively, after losing 8.8% and 33% in 2022.

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EMPLOYEE LAYOFFS: A Different Type of Holiday “Window Dressing”

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

END-OF-YEAR FINANCE

By Staff Reporters

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We’ve discussed end of year mutual fund “window-dressing” before on this ME-P. Essentially, with mutual funds, window dressing refers to the superficial changes a fund might make to its portfolio of holdings to appear more attractive to current and prospective investors. At a glance, a potential investor might be drawn in with what appears to be good performance.

For example, a mutual fund management team might choose to sell losing stocks and buy winning ones at or around the end of a quarter. This strategy hides weak performance and gives investors a perception of impressive returns.

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Window dressing in stocks is an example from another part of the world of finance, as public companies sometimes use window dressing when reporting earnings. Depending on the specifics, this practice can range from “creative accounting” to something bordering on or actually qualifying as fraud.

For example, some economics researchers cite rounding as a manipulative form of window dressing. A firm might round $5.99 million in quarterly earnings up to $6 million because the round number can be more psychologically attractive.

MORE: https://medicalexecutivepost.com/2023/12/02/what-is-mutual-fund-window-dressing/

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The GM-owned self-driving car company Cruise will lay off 24% of its staff (~900 employees) as well as nine executives following a serious autonomous taxi crash in San Francisco in October 2023 and the vehicles’ subsequent banning in the state of California.

Cruise’s staff reduction appears mostly due to the safety concerns around the company’s robo-taxis, but it comes after a deluge of other high-profile companies made major cuts just before the holidays:

Etsy. The online marketplace said it was laying off 11% of its staff. CEO Josh Silverman blamed the macroeconomic environment and previous over-hiring despite gross merchandise sales remaining flat since 2021.
Hasbro. The toymaker laid off 1,100 workers (roughly 20% of its staff) after a period of less-than-stellar toy sales following a pandemic surge. This most recent layoff is in addition to the 800 jobs it cut earlier this year.
Spotify. The streaming giant announced its third round of 2023 layoffs earlier this month. The company cut 1,500 jobs, which equates to about 17% of staff.
Why do companies do this?

Pre-holiday layoffs might seem especially cruel, but sadly, they aren’t uncommon. December job cuts are the quickest way for companies to pad the balance sheet and EOY reports before they show them to shareholders. Plus, it means they’ll have to give out fewer end-of-year bonuses.

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DAILY UPDATE: Three Arrows Capital is Down as Stock Markets Rebound

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

By Staff Reporters

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Almost $1 billion in assets belonging to the founders of cryptocurrency hedge fund Three Arrows Capital have been frozen by a British Virgin Islands court, according to the firm’s liquidator. The court issued an order preventing co-founders Su Zhu and Kyle Davies, as well as Davies’ wife Kelly Chen, from transferring or selling assets worth up to $1.14 billion, the liquidator Teneo said in an emailed statement, adding that it estimates creditors are owed roughly $3.3 billion.

***

Here is where the major benchmarks ended:

Here’s where the major benchmarks ended:

The S&P 500^® index (SPX) was up 48.40 points (1.0%) at 4,746.75; the Dow Jones Industrial Average was up 322.35 points (0.9%) at 37,404.35; the NASDAQ Composite^®(COMP) was up 185.92 points (1.3%) at 14,963.87.
The 10-year Treasury note yield (TNX) was up about 1 basis point at 3.89%.
The CBOE^®Volatility Index (VIX) was down 0.02 at 13.65, after earlier rising to 14.49.

Among market sectors, Micron Technology’s gain helped send the Philadelphia Semiconductor Index (SOX) up 2.8%. Retail and transportation shares were also among the strongest performers.

The Russell 2000^® Index (RUT), which is largely small cap focused, rose 1.7% and is on track for a sixth consecutive weekly gain.

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Of Gray Rhinos & Other Financial Threats!

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

Rick Kahler MS CFP

By Rick Kahler MS CFP®

“There he is,” our South African guide whispered excitedly. About 200 feet away stood a black rhino, the rarest and most aggressive of the rhinos. The rhino focused his full attention on us as he repeatedly took a few steps and stopped. After several minutes, he moved so a bush blocked our view of him. “Ok, he is using the bush as a cover and is probably going to charge. We need to leave. Start walking backward and keep your eyes in the direction where you saw the rhino.”

As I started backing up as fast as I could, the guide barked in his loudest whisper, “Don’t run! If he charges drop to the ground; he won’t trample you.” I can’t say I was comforted by this bit of information.

This experience taught me a rhino on the horizon represents a real and present danger.

Ignoring it can result in paying a heavy price

At this year’s FPA Retreat, one of the speakers was Michele Wucker, author of The Gray Rhino: How to Recognize and Respond to the Obvious Dangers We Ignore. She said that when it comes to financial planning and investments, rhinos loom everywhere. Wucker described these dangers as different from elephants and black swans.

The elephant in the room is something we see but no one is going to do anything about. It’s not going anywhere, and we will construct our life to accommodate it. Common financial elephants that I see are adult children financially dependent upon enabling parents, a financially controlling spouse with a history of poor financial decisions, or a family member addicted to spending,

A black swan is unpredictable, something we don’t even see. It can be the loss of a job, the sudden death of a breadwinner, or the collapse of a highly rated financial institution.

The grey rhino is something you know is stalking you. You know it is coming, but you don’t know when. The trick to avoiding a rhino is recognizing and acting on the obvious dangers we ignore.

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Ex-Cathedra black swan

[Black Swan]

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There are a lot of grey rhinos in the financial world

Here are a few common ones:

1. The next stock market crash. I guarantee you the stock market will crash at some time in the future. The best plan I know is to prepare yourself to do nothing, so you don’t panic and sell.
2. Death. It is certainly inevitable, yet the majority of Americans don’t have a will.
3. Health costs. At some point in your life you will need health care, and good health care is, and will always be, expensive.
4. House and vehicle repairs. Normal wear and tear should come as no surprise.

Yet another critter lurks around the financial landscape: the bat. Where I live, bats show up every evening at dusk, without fail. Financial bats are equally predictable.

These are future events or expenses that we know are coming, such as:

1. College. Subtract each minor child’s age from 18. That’s the number of years you have to save to fund their college education.
2. Retirement. Subtract your age from the age at which you want to quit working. This is how many years you have to accumulate enough wealth to replace your salary.
3. Taxes. We even know the day and the hour on this one.
4. Birthday and Christmas gifts. These come every year, just as reliably as the bats.

Assessment

What’s the best way to cope with this financial zoo? I suggest emulating another animal—the lowly ant from Aesop’s fable. Unlike the happy-go-lucky grasshopper, the ant put away resources so it was prepared for future hardships.

Conclusion

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DAILY UPDATE: First Day of Winter as FedEx and the Stock Markets Crash!

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

HAPPY WINTER SOLSTICE

By Staff Reporters

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Astronomical winter begins at the winter solstice, which is the shortest day of the year. This means days get longer during winter—very slowly at first, but at ever-larger daily intervals as the March Equinox approaches, heralding the start of spring.

Locations closer to the poles experience larger differences in day length throughout the year, so winter days are shorter there. In Toronto, the shortest day is just under 8 hours and 56 minutes long; in Miami, roughly 2000 kilometers or 1200 miles farther south, it lasts about 10 hours and 32 minutes.

Places within the polar circles experience polar night during all or part of the winter season when the Sun does not rise at all.

Here is where the major benchmarks ended:

Here’s where the major benchmarks ended:

The S&P 500 index (SPX) was down 70.02 points (1.5%) at 4,698.35; the Dow Jones Industrial Average (DJI) was down 475.92 points (1.3%) at 37,082.00; the NASDAQ Composite® (COMP) was down 225.28 points (1.5%) at 14,777.94.
The 10-year Treasury note yield (TNX) was down about 6 basis points at 3.858%.
The CBOE® Volatility Index (VIX) was up 1.14 at 13.67.

Shares of semiconductors and banks were among the weakest performers Wednesday, giving back some recent gains after ranking among upside leaders during the recent rally.

Transportation shares also slumped behind weakness in FedEx. The Dow Jones Transportation Index (DJT) fell 1.5% and ended at its lowest level in a week.

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DOL: Proposes “Best Interest” Retirement Investment Advice

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

SPONSOR: http://www.MARCINKOASSOCIATES.com

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The Department of Labor’s proposal aims to close governance loopholes and require financial advisers to give retirement advice in the best interests of savers rather than chase the highest payday.

“Bad financial advice by unscrupulous financial advisers driven by their own self-interest can cost a retiree up to 1.2% per year in lost investment,” President Biden said. “That doesn’t sound like much but if you’re living long, it’s a lot of money.

MORE: https://medicalexecutivepost.com/2023/03/11/recast-an-interview-with-fiduciary-bennett-aikin-aif-2/

“Over a lifetime, it can add up to 20% less money when they retire. For a middle-class household, that can amount to tens of thousands of dollars over time.”

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DAILY UPDATE: IRS Zaps Debt as Stock Markets Ascend!

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

By Staff Reporters

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Americans who owe back taxes will be given an incentive to pay up after the Internal Revenue Service it would waive nearly $1 billion in late-payment penalties. Roughly 4.6 million individual taxpayers who owe for tax years 2020 and 2021 will be eligible for the penalty relief. The IRS is extending the olive branch because it stopped sending out many collection letters during the pandemic. It hoped the letter halt would help struggling taxpayers and reduce its backlog. The long absence of these computer-generated letters had big consequences for taxpayers. Americans’ debt on unpaid back taxes had been growing with interest and penalties, and many were likely in the dark about just how much they owed.

Here is where the major benchmarks ended:

Here’s where the major benchmarks ended:

The S&P 500 index was up 27.81 points (0.6%) at 4,768.37; the Dow Jones Industrial Average was up 251.90 points (0.7%) at 37,557.92; the NASDAQ Composite^® (COMP) was up 98.03 points (0.7%) at 15,003.22.
The 10-year Treasury note yield (TNX) was down about 3 basis points at 3.924%.
The CBOE^®Volatility Index (VIX) was down 0.03 at 12.53.

Energy shares extended an early week rally behind a continued rebound in WTI Crude Oil futures (/CL), which rose for a fifth straight day and ended near a three-week high above $74 per barrel.

Banks and retailers were also particularly firm. The S&P 500 Retail Select Industry Index (SPSIRE) surged over 2% and ended at its highest level in over 10 months.

And, Tuesday’s big winner was Affirm, whose shares skyrocketed 15% after the buy now, pay later company announced it’s expanding its Walmart partnership to include the retailer’s self-checkout kiosks.

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DAILY UPDATE: Goldman Sachs Speaks as the Stock Markets Rise

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

By Staff Reporters

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The Federal Reserve’s pivot last week to an easier monetary policy made many investors more bullish toward stocks. You can count Goldman Sachs among them. It has raised its year-end 2024 target for the S&P to 5,100 from 4,700. The new forecast represents an 8% increase from 4,740 on Dec. 18. Goldman has a three-month target of 4,800 and a six-month target of 4,900.

Here is where the major benchmarks ended:

Here’s where the major benchmarks ended:

The S&P 500 index was up 21.37 points (0.5%) at 4,740.56; the Dow Jones Industrial Average was up 0.86 points at 37,306.02; the NASDAQ Composite was up 90.89 points (0.6%) at 14,904.81.
The 10-year Treasury note yield (TNX) was up about 2 basis points at 3.946%.
The CBOE^®Volatility Index (VIX) was up 0.25 at 12.53.

Energy shares were among Monday’s strongest performers behind a rally in WTI Crude Oil futures (/CL), which jumped 1.7% to end at a two-week high amid concern over supply disruptions following attacks on ships in the Red Sea.

Communication services and consumer staples were also firm. Financials gave back some of last week’s sharp gains, with the KBW Bank Index (BKX) down nearly 1%.

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IRS Inheritance Rule Change and the “Delta Dental” Data Breach

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

By Staff Reporters

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The IRS is demanding billions from small business who took this credit ...

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The IRS Quietly Changed the Rules on Children’s Inheritance

The IRS just issued Revenue Ruling 2023-2, which had a substantial impact on estate planning, particularly where an irrevocable trust is involved.

In the last decade or so, more families have begun utilizing irrevocable trusts to protect their assets from spend-down in order to qualify for government benefits, such as Medicaid and VA Aid and Attendance. Prior to the issuance of this ruling, it was unclear whether assets passing to beneficiaries through an irrevocable trust would receive a step-up in basis, thereby eliminating any capital gains taxes that would otherwise be owed.

Historically, assets that are disposed of during an individual’s lifetime are subject to capital gains taxes on the increase in value of that asset over time. The amount of capital gains owed is determined largely by the difference between the value at the time of purchase and the value at the time of transfer.

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Delta Dental of California data breach exposed info of 7 million people

“Delta Dental of California and its affiliates are warning almost seven million patients that they suffered a data breach after personal data was exposed in a MOVEit Transfer software breach.Delta Dental of California provides 24 months of free credit monitoring and identity theft protection services to impacted patients to mitigate the risk of their exposed data.”

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DAILY UPDATE: The “Magnificent Seven” Technology Stocks PLUS Uber

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

By Staff Reporters

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Markets: The Magnificent Seven technology mega-cap stocks—Microsoft, Apple, Alphabet, Nvidia, Tesla, Meta, and Amazon—have surged 75% this year, while the other 493 companies in the S&P 500 have gained 12%. The Magnificent Seven now account for nearly 30% of the entire index’s value, per the WSJ.

Stock spotlight: Speaking of the S&P 500, it’s getting a prominent new member—Uber will join the index today. With a market cap of $127 billion, Uber is the most valuable company that hadn’t yet been included in the S&P 500, and it celebrated by notching a 52-week high last week.
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DAILY UPDATE: Mental Health and NASDAQ Technology Stocks

Posted on December 16, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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“We kept hearing nightmare stories about Americans not getting the treatment that they needed because insurance companies were denying them care. But we didn’t have enough data to show just how extensive and deep the problem was.”—

Bill Smith, founder of mental health advocacy coalition Inseparable, on patients with mental health diagnoses not receiving care (NPR)

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The NASDAQ closed at an all-time high yesterday, breaking the record it set in November 2021, as technology stocks continued to rally on the news that the Fed may cut interest rates next year.

DocuSign shot up following reports that the $11 billion company whose tech lets you use your signature without a pen could be up for sale.

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DAILY UPDATE: Healthcare Artificial Intelligence Safety as the DJIA Sets Record

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

By Staff Reporters

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Twenty-eight healthcare companies, including CVS Health , are signing U.S. President Joe Biden’s voluntary commitments aimed at ensuring the safe development of artificial intelligence (AI), a White House official said yesterday. The commitments by healthcare providers and payers follow those of 15 leading AI companies, including Google, OpenAI and OpenAI partner Microsoft to develop AI healthcare models responsibly.

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Health insurance company Humana is being accused of allegedly wrongfully denying care to elderly patients, who are enrolled in Medicare Advantage Plans, using an augmented intelligence model “to override” physicians’ orders on “necessary care patients require,” according to a new lawsuit.

The lawsuit, filed by two Humana Medicare Advantage Plan customers on December th 12 in Kentucky, claims that Humana uses an AI model called nH Predict, and it allegedly has a high error rate. And allegedly, despite knowing that it’s inaccurate, the company still uses it.

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Here is where the major benchmarks ended:

The S&P 500 index was up 12.46 points (0.3%) at 4,719.55; the Dow Jones Industrial Average was up 158.11 points (0.4%) at 37,248.35; the NASDAQ Composite^® (COMP) was up 27.59 points (0.2%) at 14,761.56.

The 10-year Treasury note yield (TNX) was down about 11 basis points at 3.923%, falling under 4% for the first time since early August.
The CBOE® Volatility Index (VIX) was up 0.25 at 12.44.

Financial shares remained among the market’s strongest post-FOMC gainers, reflecting ideas that lower interest rates will boost profit margins for banks. Goldman Sachs (GS) rallied nearly 6%, the second-best gain among Dow companies, and hit a 23-month high. The KBW Bank Index (BKX), which includes major companies like Bank of America (BAC) and Citigroup (C) as well as several regional lenders, surged 5% to a nine-month high.

Also, the small-cap Russell 2000^® Index (RUT) continued to outgain large-cap counterparts, rising 2.7% to a 4 ½-month high.

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DAILY UPDATE: DJIA Records a High as Treasury Yields Drop

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

By Staff Reporters

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MANY THANKS E.R. HEROES

The holidays can be a stressful time for many, especially emergency healthcare workers, as Emergency Departments and ERs tend to get crowded. Holiday-related injuries spike in December, from slipping in the snow or falling while decorating to overindulging in holiday cocktails. So, to all the emergency healthcare providers working on holidays this year, the ME-P thanks you very much.

Here’s where the major benchmarks ended:

The S&P 500 index was up 63.39 points (1.4%) at 4,707.09; the Dow Jones Industrial Average was up 512.30 points (1.4%) at 37,090.24; the NASDAQ Composite was up 200.57 points (1.4%) at 14,733.96.
The 10-year Treasury note yield (TNX) was down about 18 basis points at 4.024%.
The CBOE® Volatility Index (VIX) was up 0.14 at 12.21.

Financial shares led Wednesday’s gainers, reflecting ideas that lower interest rates will boost profit margins for banks. The KBW Regional Banking Index (KRX) surged nearly 6% and ended at its highest level in over four months. The Fed’s outlook for slower growth in 2024, but no recession, also appeared to drive optimism among smaller companies, which are considered to have greater exposure to economic downturns. The small-cap Russell 2000^® Index (RUT) outpaced its bigger counterparts, gaining 3.5% and ending at a four-month high.

Treasury yields fell sharply, with the 10-year note dropping to a four-month low just above 4%.

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DAILY UPDATE: Norton Healthcare Hacked – Pharma Chains Give Health Data to Police and the Stock Markets Climb

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

By Staff Reporters

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Kentucky-based healthcare provider Norton Healthcare has confirmed that it has suffered a significant ransomware attack that may have put the data of millions of its patients at risk. In a filing to the Maine Attorney General on December 8th, the healthcare giant said that 2.5 million individuals had been affected by the breach.

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Meanwhile, the nation’s largest pharmacy chains have handed over Americans’ prescription records to police and government investigators without a warrant, a congressional investigation found, raising concerns about threats to medical privacy. Though some of the chains require their lawyers to review law enforcement requests, three of the largest — CVS Health, Kroger and Rite Aid, with a combined 60,000 locations nationwide — said they allow pharmacy staff members to hand over customers’ medical records in the store.

The policy was revealed in a letter sent to Xavier Becerra, the secretary of the Department of Health and Human Services, by Sen. Ron Wyden (D-Ore.) and Reps. Pramila Jayapal (D-Wash.) and Sara Jacobs (D-Calif.).

HIPAA anyone?

***

Here’s where the major benchmarks ended:

The S&P 500 index was up 21.26 points (0.5%) at 4,643.70; the Dow Jones Industrial Average®(DJI) was up 173.01 points (0.5%) at 36,577.94; the NASDAQ Composite® (COMP) was up 100.91 points (0.7%) at 14,533.40.
The 10-year Treasury note yield (TNX) was down about 3 basis points at 4.206%.
The CBOE® Volatility Index (VIX) was down 0.56 at 12.07.

Technology shares were among Tuesday’s strongest performers despite a 12% drop in Oracle (ORCL), which plunged after reporting lighter-than-expected quarterly revenue late Monday. The Philadelphia Semiconductor Index (SOX) posted its highest close since January 2022.

Financial shares were also firm. Energy shares were under pressure because WTI Crude Oil futures (/CL) extended a slump below $70 per barrel and settled at its lowest price since late June.

Here is where the major benchmarks ended:

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U.S. ECONOMY: Perhaps a “Soft Landing” After All?

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

YET- HEALTH CARE IS GROWING!

By Staff Reporters

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The US economy is looking like it could avoid a downturn and achieve a soft landing after all. US employers added a more-than-expected 199,000 workers to their payrolls last month, the Bureau of Labor Statistics said recently. The solid result calmed many analysts’ fears that a steeper economic slowdown is imminent due to the Federal Reserve’s earlier interest rate hikes. And, it brings us closer to the coveted “soft landing” scenario, in which the Fed tames inflation on the economy. For example:

The unemployment rate unexpectedly ticked down for the first time since July, to 3.7%.
Average hourly pay increased by 0.4% and is now up 4% for the year, beating the projected pace of annual price growth.
But the job market isn’t quite what it used to be

Last month’s 199-k jobs created were below the average of 240,000 added in the preceding 12 months. Plus, November hiring was confined to just a handful of industries:

Healthcare and the government were responsible for two-thirds of the headcount growth, adding 77,000 and 49,000 jobs, respectively.
The manufacturing sector gained 28,000 workers—but that was largely due to folks returning to work after striking against the Big Three automakers.
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Finally, in another sign that employers might be pulling back from on-boarding new people, the Labor Department reported earlier this week that job openings in late October were at their lowest since March 2021.

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DAILY UPDATE: Health Care, FOMC and the Tepid Markets

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

By Staff Reporters

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In healthcare, legislators could vote next week on a major health reform package that includes a ban on spread pricing in Medicaid and a push toward site-neutral payments.

In more news from the Hill, a bipartisan bill was introduced that seeks to cancel a 3.4% Medicare pay cut to docs, which has drawn plenty of ire from the industry.

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The final FOMC meeting of the year will take place this week, and like most work meetings in mid-December, not a whole lot is going to happen. Chair Jerome Powell is widely expected to leave interest rates unchanged as inflation continues its descent to a 2% target. But 2024 planning is in full swing, and investors are desperate to learn when the Federal Reserve thinks it will need to cut rates next year.

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Here is where the major stock index benchmarks ended:

The S&P 500 index was up 18.07 points (0.4%) at 4,622.44; the Dow Jones Industrial Average® (DJI) was up 157.06 points (0.4%) at 36,404.93; the NASDAQ Composite was up 28.51 points (0.2%) at 14,432.49.
The 10-year Treasury note yield (TNX) was little-changed at 4.239%.
The CBOE® Volatility Index (VIX) was up 0.28 at 12.63.

In addition to retailers, semiconductor company shares also posted outsized gains Monday, boosted in part by a jump of nearly 10% in Broadcom (AVGO). The Philadelphia Semiconductor Index (SOX) gained more than 3% and ended near a two-year high. Transportation companies were also strong.

In other markets, Natural Gas futures (/NG) plunged more than 6% to a six-month low, reflecting warmer-than-normal U.S. temperatures and excess supplies.

Finally, the so-called Magnificent Seven stocks of Apple, Microsoft, Alphabet, Amazon.com, Nvidia, Tesla and Meta Platforms each fell at least 0.8%. Meta led the declines, dropping 2.2%. But only one out of 11 S&P 500 sectors fell. Even the information technology sub-index ticked higher, reflecting gains outside of the largest companies in the sector.

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The UK Questions Microsoft & OpenAI as Aetna Medicaid Aids Hungry Homeless

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

By Staff Reporters

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United Kingdom Regulators Looking into Microsoft’s Partnership with OpenAI

A British watchdog is asking for feedback on whether Microsoft’s $13 billion, 49% stake in the ChatGPT-maker’s for-profit division constitutes a merger, the WSJ just eported. So, if the agency decides to launch a formal investigation into whether the partnership creates an unfair advantage in the artificial intelligence industry, it could eventually force the companies to change how they operate.

And, following OpenAI’s dramatic firing and rehiring of CEO Sam Altman last month, Microsoft was given a “nonvoting observer” seat on the OpenAI board.

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Aetna Better Health of Georgia has invested $510,000 in 17 local organizations that offer services for individuals experiencing food insecurity and homelessness across the state of Georgia.

“A holistic approach to health care starts with ensuring each individual has stable and consistent access to healthy, nutritious foods, as well as a safe place to live,” said Sonya Nelson, division president at Aetna Medicaid. “By partnering with local organizations committed to improving the quality of life for all Georgians, we can help ensure people’s most basic needs are fulfilled and they’re able to prioritize care for themselves and their families.”

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TELE-HEALTH: The “Smile Direct Club” Frowns

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

By Staff Reporters

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SmileDirectClub is the latest casualty of what some have dubbed a startup Mass Extinction Event.

The telehealth company that attempted to revolutionize traditional orthodontics just announced that it was winding down operations less than three months after it filed for Chapter 11 bankruptcy. At its peak, SmileDirectClub was valued at $8.9 billion and had raised $427 million as a private company before going public in 2019.

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DAILY UPDATE: “Soft Economic Landing” and Paramount Pictures Corporation

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

By Staff Reporters

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The S&P 500 heads into the week at its highest level of the year after Friday’s solid jobs report suggested that the Fed could be all clear for a “soft landing”—bringing inflation back to normal without sending the economy into a recession. The S&P and Dow have posted gains for six straight weeks, their longest streak since 2019.

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But, the week’s big winner was Paramount, which spiked on reports that Shari Redstone might sell the entertainment giant.

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BONDS: Are Best Right Now?

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

By Staff Reporters

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The bond market just finished its best month since 1985, according to the Financial Times, with investor optimism creating a surge in bond prices and a plunge in yields (reminder: they move in opposite directions). The yield on the benchmark 10-year US Treasury note dipped below 4.3% for the first time since September. And other economic measures are looking good:

The bond rally spilled over to stocks, where the S&P 500 and Dow just clinched their best months since July 2022 and October 2022, respectively.
Mortgage rates dropped for the fifth consecutive week, to 7.22%.

Traders are optimistic that the FOMC may be done hiking interest rates. With recent data showing both consumer spending and the job market cooling down—but not too much—economists see the once-aspirational economic soft landing as achievable, which is great news for Wall Street and to avoid a recession).

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DAILY UPDATE: Deflation Pending as Stock Markets Gain

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

By Staff Reporters

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After grappling with high inflation for more than two years, American consumers are now seeing an economic trend that many might only dimly remember: falling prices — but only on certain types of products.

Deflation is impacting so-called durable goods, or products that are meant to last more than three years, Wall Street Journal reporter David Harrison told CBS News. As Harrison noted in his reporting, durable goods have dropped on a year-over-year basis for five straight months and dropped 2.6% in October from their September 2022 peak.

These items are products such as used cars, furniture and appliances, which saw big run-ups in prices during the pandemic. Used cars in particular were a pain point for U.S. households, with pre-owned cars seeing their prices jump more than fifty percent in the first two years of the pandemic.

Here is where the major benchmarks ended:

The S&P 500 Index was up 36.25 points (0.8%) at 4,585.59; the Dow Jones Industrial Average was up 62.95 points (0.2%) at 36,117.38; the NASDAQ Composite was up 193.28 points (1.4%) at 14,339.99.
The 10-year Treasury note yield (TNX) was up about 2 basis points at 4.144%.
The CBOE® Volatility Index (VIX) was up 0.09 at 13.06.

Tech sector strength was highlighted by the Philadelphia Semiconductor Index (SOX), which gained nearly 3%. Financial shares were also among the strongest performers, as the KBW Regional Banking Index (KRX) rose 2% and ended at a four-month high. In other markets, WTI crude oil futures (/CL) posted the market’s first gain in six days after earlier dropping to its lowest level since late June.

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DAILY UPDATE: Apple Market Cap Up as Major Stock Indexes Ease

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

By Staff Reporters

MEDICARE ANNUAL ENROLLMENT ENDS

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Apple regains a $3 trillion market cap and is on track to end the year as the world’s most valuable company for the 5th time in a row.

Today marks the 82nd anniversary of the attack on Pearl Harbor that drew the US into WWII.

Here’s where the major benchmarks ended:

The S&P 500^® index (SPX) was down 17.84 points (0.4%) at 4,549.34; the Dow Jones Industrial Average^® (DJI) was down 70.13 points (0.2%) at 36,054.43; the NASDAQ Composite^® (COMP) was down 83.20 points (0.6%) at 14,146.71.
The 10-year Treasury note yield (TNX) was down about 5 basis points at 4.117%.
The CBOE^® Volatility Index (VIX) was up 0.10 at 12.95.

Energy shares were again among the market’s weakest performers as crude oil futures extended a slump, closing below $70 per barrel for the first time since late June on concerns over slowing global demand. And, Liz Ann Sonders of Schwab said a “somewhat stealthy” rotation continued under the market’s surface, with the S&P 500® Equal Weight (SPXEW) and Russell 2000^®(RUT) indexes outperforming both the S&P 500 and NASDAQ over the past month or so. She also noted a defensive tone to Wednesday’ trading, illustrated by strength in utilities and weakness in technology.

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CAPITAL REQUIREMENT BANK RISKS: Basel III Endgame?

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

By Staff Reporters

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The heads of Wall Street’s eight biggest banks will warn lawmakers today that the “Basel III Endgame” proposal will hurt the economy and hamper lending, according to each of their prepared testimonies. Regulators in July proposed strengthening regulations by requiring large U.S. banks to set aside more capital to absorb potential losses. Banks repeatedly slammed the proposal, saying this is not justified as they are well-capitalized.

The CEOs of the top banks will appear before the Senate Banking Committee today to make their case – Wells Fargo’s (NYSE:WFC) Charles Scharf, Bank of America’s (NYSE:BAC) Brian Thomas Moynihan, JPMorgan’s (NYSE:JPM) Jamie Dimon, Citigroup’s (NYSE:C) Jane Fraser, State Street’s (NYSE:STT) Ronald O’Hanley, BNY Mellon’s (NYSE:BK) Robin Vince, Goldman Sachs’ (NYSE:GS) David Solomon, and Morgan Stanley’s (NYSE:MS) James Gorman.

“The proposed Basel III Endgame rule would unjustifiably and unnecessarily increase capital requirements by 20%-25% for the largest banks,” according to Jamie Dimon’s prepared testimony. “Banks would be limited in their ability to deploy capital in the times we’re most needed, and the rule will have a harmful ripple effect on the economy.”

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Filed under: "Ask-an-Advisor", Accounting, Breaking News, Financial Planning, Funding Basics | Tagged: Basel III, big banks, capital requirements, Jamie Dimon | Leave a comment »

DAILY UPDATE: Non-Physician Practice Ownership Quality Down as Stock Markets Slip

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

By Staff Reporters

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SPONSOR: http://www.MarcinkoAssociates.com

***

Nearly 60% of doctors who practice as employees of hospitals and other corporate entities say that non-physician practice ownership results in lower quality patient care, per a new survey commissioned by the Physicians Advocacy Institute. Loss of face time with patients and greater focus on finances negatively impact quality, they say.

Here is where the major benchmarks ended:

Here’s where the major benchmarks ended:

The S&P 500 index was down 2.60 points (0.1%) at 4,567.18; the Dow Jones Industrial Average was down 79.88 points (0.2%) at 36,124.56; the NASDAQ Composite® (COMP) was up 44.42 points (0.3%) at 14,229.91.
The 10-year Treasury note yield was down about 11 basis points at 4.18%.
The CBOE® Volatility Index (VIX) was down 0.23 at 12.85.

Energy shares were among Tuesday’s weakest performers on pressure from slumping crude oil futures, which dropped for a fourth consecutive day and hit a five-month low amid concern over global demand. Retail and transportation sectors were also soft. Technology and consumer discretionary shares were among the few gainers.

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

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Filed under: Alternative Investments, Financial Planning, Funding Basics, Glossary Terms, Investing, Quality Initiatives, Touring with Marcinko | Tagged: CBOE, COMP, energy, gold, inflation, Marcinko, markets, metals, NASDAQ, non physician ownership, oil, Private Equity, Russell Index 2000, RUT, S&P 500, stock markets, TNX, VIX | Leave a comment »

DAILY UPDATE: Stock Indexes Pull Back

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

By Staff Reporters

***

SPONSOR: http://www.MarcinkoAssociates.com

Here is where the major benchmarks ended yesterday:

The S&P 500® index (SPX) was down 24.85 points (0.5%) at 4,569.78; the Dow Jones Industrial Average® (DJI) was down 41.06 points (0.1%) at 36,204.44; the NASDAQ Composite (COMP) was down 119.54 points (0.8%) at 14,185.49.
The 10-year Treasury note yield (TNX) was up about 4 basis points at 4.264%.
The BOE® Volatility Index (VIX) was up 0.45 points at 13.08.

Technology and communications services shares were among the weakest performers Monday, with the Philadelphia Semiconductor Index (SOX) dropping 1.2%, its lowest level since mid-November.

By contrast, many smaller companies held up better. The small-cap-focused Russell 2000® Index (RUT) rose 1% and ended at a three-month high, extending a recent upswing. In other markets, gold futures (GC) plunged after earlier posting an intraday record above $2,152 an ounce.

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Filed under: Alternative Investments, Financial Planning, Funding Basics, Glossary Terms, Investing, Touring with Marcinko | Tagged: banks, COMP, energy, GC, gold, inflation, Marcinko, markets, metals, NASDAQ, oil, real-estate, Russell 2000 Index, Russell Index 2000, RUT, S&P 500, SOX, SPX, stock markets, TNX, utilities, VIX | Leave a comment »

DAILY UPDATE: IRS Ups Interest Rate Penalty with Economic Soft Landing?

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

By Staff Reporters

***

SPONSOR: http://www.MarcinkoAssociates.com

***

The Internal Revenue Service (IRS) is raising the stakes for those who underpay their taxes by ratcheting up the interest penalty that will be assessed in next spring’s tax filing season. Earlier this fall, the IRS increased its interest penalty on estimated tax underpayments to 8% – a notable jump from 3% just two years ago. The IRS indicated that the interest rate penalty is determined every quarter and that for taxpayers other than corporations the assessed rate is the federal short-term rate plus three percentage points.

***

Speaking of a possible US economic “soft-landing“, the S&P 500 closed at a 2023 high on Friday, the VIX (Wall Street’s “fear gauge”) has fallen to a nearly four-year low, and December has been the third-best month for the S&P since 1928. Even crypto is on a roll as bitcoin topped $40,000 for the first time since May 2022.

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Filed under: Alternative Investments, Financial Planning, Funding Basics, Glossary Terms, Investing, Touring with Marcinko | Tagged: Bitcoin, crypto, fear gauge, inflation, interest rate penalty, Internal revenue service, IRS, IRS interest rate penalty, Marcinko, S&P 500, soft landing, tax underpayments, VIX | Leave a comment »

ALERT: Remote Patient Monitoring

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

By Staff Reporters

RPM CONSUMER ALERT

***

***

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

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

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

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

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

Source: OIG

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Filed under: Alerts Sign-Up, Book Reviews, Funding Basics, Glossary Terms, Health Economics, Health Insurance, Healthcare Finance, Information Technology, LifeStyle, Quality Initiatives, Risk Management | Tagged: alert, click bait, cold calling, consumer alert, DHHS, DME, durable medical equipment, FDA, medicare, OIG, remote patient monitoring, RPM | Leave a comment »

JEROME POWELL: Speaks On “Premature” Interest Rate Cuts

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

By Staff Reporters

***

What Is Money Factor for SMB? : On Auto Monthly Lease Payment

***

With the Fed’s aggressive rate hikes to curb inflation looking like they’ve finally come to an end thanks to encouraging data on prices falling, investors are starting to look forward to when the central bankers start slashing rates again.

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

But Jerome Powell sought to pour some cold water on the rate cut hype cycle during a speech at Spelman College in Atlanta, Georgia yesterday, saying that it was too soon “to speculate on when policy might ease.” However, investors still think he’ll come around: Markets are putting the odds that the Fed will cut rates in March above 50% and are totally convinced it’ll happen by May, according to Bloomberg.

***

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Filed under: "Ask-an-Advisor", Breaking News, Experts Invited, Financial Planning, Funding Basics, Glossary Terms, Investing, LifeStyle | Tagged: Bloomberg, deflation, fed, Federal Reserve, FOMC, inflation, interest rate cuts, interest rates, IRS, Jerome Powell, Powell, premature interest rate cuts | Leave a comment »

DAILY UPDATE: Stock Markets Rally and IPOs

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

By Staff Reporters

***

SPONSOR: http://www.MarcinkoAssociates.com

***

As we reported, the S&P 500 had its best day of the year on Friday as stocks kept their November rally rolling right into December. Pfizer, however, fell to its lowest since March 2020 after announcing that it’s pulling the plug on its experimental twice-a-day weight loss pill because it caused too many negative side effects even as pharmaceutical companies are rushing to serve the growing weight loss market.

***

And, Panera Bread filed IPO paperwork, the Financial Times reported. And it’s not the only household name that’s anticipated to hit brokerage apps next year as more companies are once again considering going public. The past two years have been an IPO stale mate as rising interest rates led to a tepid market for newcomers. Last year, Panera itself aborted a public listing it was planning via a special purpose acquisition company [SPAC] due to harsh market conditions.

CITE: https://medicalexecutivepost.com/2022/06/13/spac-v-direct-listing-v-ipo/

But, things might be different in 2024. Fast-fashion behemoth Shein also recently filed paperwork for what could be a blockbuster IPO that raises as much as $90 billion, per Bloomberg. The publication says that more companies are rumored to be thinking about joining the potential IPO bonanza. For example:

Kim Kardashian might list her $4 billion undergarment brand, Skims.
Reddit is supposedly flirting with the idea of going public. It would be the first major social media IPO in years, and it’s been in the offing since last year, when Reddit was valued at $15 billion.

However, all IPOs have not done well:

The Birkenstock and Instacart IPOs fell short of expectations according to investment data from Dealogic
Three out of four companies that IPOed this year were trading below their offer prices as of the middle of last month.
Companies debuting on the public markets raised a meager $20 billion so far this year, a slight rebound from 2022 but a ~90% decline from 2021.

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

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Filed under: Alternative Investments, Drugs and Pharma, Financial Planning, Funding Basics, Glossary Terms, Investing, Touring with Marcinko | Tagged: Birkenstock, Bloomberg, Dealogic, Financial Times, inflation, instacart, IPOs, Marcinko, markets, NASDAQ, Panera Bread, Pfizer, public markets, Reddit, Russell Index 2000, RUT, S&P 500, Shein, Skims, SPAC, stock markets | Leave a comment »

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