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DAILY UPDATE: Stock Markets Extend Record Climb Ending Strong Week

Posted on February 24, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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An astonishing week in the stock market wrapped up with the S&P 500 hitting a record high. While Nvidia’s blowout earnings were the stars. For example, kudos to Carvana, which recorded its first-ever annual profit on its comeback tour from the COVID-19 pandemic.

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Here’s where the major benchmarks ended:

The S&P 500 index rose 1.77 points (0.03%) to 5,088.80, up 1.7% for the week; the Dow Jones Industrial Average gained 62.42 points (0.2%) to 39,131.53, up 1.3% for the week; the NASDAQ Composite tumbled 44.80 points (0.3%) to 15,996.82.
The 10-year Treasury note yield (TNX) shed more than 7 basis points to 4.252%.
The CBOE Volatility Index^® (VIX) fell 0.79 to 13.75.

Retailers were among the market’s upside leaders Friday, with the S&P Retail Select Industry Index (SPSIRE) gaining 1.8% and ending at a 22-month high. The retail sector got a boost this week from Walmart’s (WMT) stronger-than-expected results reported Tuesday. The biggest U.S. retailer gained 3.1% this week and closed Friday near a record high above $175. Utility shares were also strong Friday.

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Filed under: "Ask-an-Advisor", Alternative Investments, Breaking News, Experts Invited, Financial Planning, Investing | Tagged: Carvana, CBOE, DJIA, NASDAQ, Nvidia, NYC, S&P 500, SPSIRE, TNX, VIX, walgreens, WMT | Leave a comment »

VINTAGE ESSAY: On the Growing Global Stock Trend

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

By Rick Kahler MS CFP® http://www.KahlerFinancial.com

About twelve years ago the South Dakota Investment Council combined two of their asset classes, domestic and international stocks, into one, global stocks. While this move didn’t make the nightly news, it did signify a growing trend.

Many investment managers no longer view the US stock market as a separate asset class from the rest of the world’s stock markets.

Today they view it as one component of a global asset class of stocks.

Diversify

For the same reason you don’t want to own just one company’s stock in your portfolio, it makes no sense for an individual investing for retirement to own just US stocks. It’s as important to diversify among countries as among companies.

The question then becomes how much of a global stock portfolio should be in US stocks and how much in international stocks. For many years the standard thinking of portfolio managers was still to over-allocate to the US. It was, and to some degree still is, common to see 80% of a portfolio’s equity allocation in US stocks.

That over-allocation has never made a lot of sense to me, considering that the US accounts for far less than 80% of the global market capitalization. In the 1980’s, US companies accounted for about 65% of the global capitalization. Accordingly, I weighted my stock portfolios with 65% US and 35% international. By 1999, the US had slipped to 50%. I adjusted my portfolios accordingly.

The latest statistics from Dimensional Fund Advisors show the US still accounts for around 50% of the global capitalization. Investors who want to maintain a true global diversification of their stock portfolios will need to seriously consider reducing their US allocation.

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Which, Where and How to Invest

Which international stocks, then, should you add? Developed regions and countries like those of Europe, Australia Pacific, and Japan account for about 40% of the total global capitalization. Emerging market countries, many in Southwest Asia and Latin America, make up the remaining 10%. Weighting your portfolio accordingly gives you a well-diversified stock portfolio that has a high probability of withstanding the inevitable rise and fall of equity markets.

How do you invest globally? There are mutual funds that invest in specific countries, in regions, internationally, or globally. I don’t really like the country funds, as I don’t know which countries I should be underweighting or overweighting. Besides, creating a global index using country funds can be a lot of work and expense.

Using index regional funds is an easier way to invest in international stocks. To allocate according to the global capitalization percentages above, you would include three index mutual funds in your stock portfolio: one broad market US fund, an international fund of developed (non-emerging markets), and an emerging markets fund.

If you want even more simplicity, invest in one good global fund. The difference between an “international” fund and a “global” or “world” fund is that a global fund will include US stocks where an international fund won’t. Vanguard Total World Stock ETF comes to mind as one of the better “one size fits all” global funds that will invest in a mixture of countries, including the US. This one fund holds 7,164 stocks in 47 countries. You really need nothing more in the equity portion of your portfolio.

Assessment

While it isn’t necessary to allocate your stocks strictly according to global capitalization percentages, research suggest you will probably do better in the long run to do so. Whether you decide to own country, regional, international, or global funds, what’s most important is that you diversify your stock portfolio globally. In today’s world, it’s an important component of diversified investing.

Conclusion

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NVIDIA: Almost All About the Company?

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

By Staff Reporters

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

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

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

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

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DAILY UPDATE: Nvidia, and Pharmacy Cyber Security Attack as Stock Markets Roar Back!

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

By Staff Reporters

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Big tech companies are continuing to pour cash into artificial intelligence at a breakneck pace. And based Bion the earnings update Wednesday from Nvidia, much of it is going to that chip maker. “This last year, we’ve seen generative AI really becoming a whole new application space, a whole new way of doing computing,” Jensen Huang, Nvidia’s co-founder and chief executive, said Wednesday. “A whole new industry is being formed, and that’s driving our growth.”

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

Pharmacies across the country are reporting delays to prescription orders due to a cyberattack against one of the nation’s largest health-care technology companies. Change Healthcare, a company handling orders and patient payments throughout the U.S., first noticed the “cyber security issue” affecting its networks Wednesday morning on the East Coast.

Here’s where the major benchmarks ended:

The S&P 500 index rose 105.23 points (2.1%) to 5,087.03; the Dow Jones Industrial Average gained 456.87 points (1.2%) to 39,069.11; the NASDAQ Composite rallied 460.75 points (3%) to 16,041.62.
The 10-year Treasury note yield (TNX) was little changed at 4.323%.
The CBOE Volatility Index^® (VIX) fell 0.84 to 14.50.

Nvidia sparked a 5% rally in the Philadelphia Semiconductor Index (SOX) and a 3% gain in the NASDQ-100^® (NDX), both of which ended at all-time highs. Consumer discretionary shares were also among the strongest sectors Thursday. The small-cap Russell 2000^® Index (RUT) rose 1% and halted a three-day slide.

According to Joe Mazzola, director of trading and education at Schwab, Nvidia had a “profound effect” at both the sector and index level, partly reflecting its market value, which is nearing $2 trillion. Nvidia is now the third largest company behind Microsoft (MSFT) and Apple (AAPL).

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Filed under: "Ask-an-Advisor", Accounting, Breaking News, Drugs and Pharma, Ethics, Experts Invited, Financial Planning, Investing | Tagged: Aapl, AI, artificial intelligence, CBOE, Change Healthcare, cyber attack, cyber hack, cyberattack, DJIA, DOW, Jensen Huang, MSFT, NASDAQ, NDX, Nvidia, NYC, pharmacy attack, pharmacy hack, RUT, S&P 500, SOX, TNX, VIX | Leave a comment »

DAILY UPDATE: Markets Mixed as Technology Stocks Remains Under Pressure

Posted on February 22, 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) rose 6.29 points (0.1%) to 4,981.80; the Dow Jones Industrial Average^® (DJI) added 48.44 points (0.1%) to 38,612.24; the NASDAQ Composite dropped 49.91 points (0.3%) to 15,580.87.
The 10-year Treasury note yield (TNX) rose more than 4 basis points to 4.319%.
The CBOE Volatility Index^® (VIX) fell 0.05 to 15.37.

Chipmakers continue to be among the softest performers this week, which sent the Philadelphia Semiconductor Index (SOX) lower for the fourth-straight day. Small caps also remained under pressure as the Russell 2000^® Index (RUT) declined 0.5%, its third-straight daily decline. Energy shares were among upside leaders with an assist from a jump of more than 1.3% in WTI crude oil (/CL)futures.

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15: PODCAST: CPAs are Out … Are CMPs™ In?

Posted on February 22, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

CERTIFIED MEDICAL PLANNER™

By Staff Reporters

SPONSOR: http://www.CertifiedMedicalPlanner.org

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The giant accounting firm Grant Thornton LLP is laying off 200 people, its second round of layoffs in the past six months and an indication that the major players in the professional consulting, accounting and advisory business are preparing for an economic slowdown that could squeeze profits across corporate America.

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Statistics: 7.4%. That’s the percentage drop in students who graduated with a degree in accounting in the 2021–2022 school year than the year before. Low starting salaries, heavy workloads, and uncertainty around AI are driving the exodus of students from choosing accounting degrees. (the Wall Street Journal).

MORE: https://www.wsj.com/lifestyle/careers/accounting-salary-cpa-shortage-dec2caa2?utm_campaign=mb&utm_medium=newsletter&utm_source=morning_brew

PODCAST: https://www.ted.com/talks/dan_bricklin_meet_the_inventor_of_the_electronic_spreadsheet

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SPAC: Smack Down

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

By Staff Reporters

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2023 was a bad year for SPACs. 2024 may be even tougher, if the SEC has anything to say about it. Last week, the agency approved rules intended to increase investor protections around SPACs and bring their treatment more in line with that of traditional IPOs.

Special purpose acquisition companies, or SPACs, are companies that go public through IPOs with the intent of merging with or acquiring private companies, known as target companies. The target companies can then be publicly listed without having to go through an IPO. SPACs, which allow companies to go public more quickly than ordinary IPOs, became popular in 2020 and 2021. But the “SPAC boom” ended in 2022 as the market worsened, and the SEC first proposed the tighter regulations it just released. In 2023, only 31 SPACs went public, compared with 613 in 2021.

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

SEC Chair Gary Gensler, a longtime critic of SPACs, hailed the new regulations as a means of safeguarding investors.

“Just because a company uses an alternative method to go public does not mean that its investors are any less deserving of time-tested investor protections,” he said in a statement.

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DAILY UPDATE: Nvidia Stock Down as Markets Extend Losses

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

By Staff Reporters

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Stocks fell to start the week as investors awaited Nvidia’s big earnings report today. Recent earnings for tech companies in the so-called Magnificent Seven have been a mixed bag, but as a group, they have never been stronger. Meanwhile, Intuitive Machines’s stock zoomed as its pilot less spacecraft remained on track to touch down on the lunar surface Thursday.

Here’s where the major benchmarks ended:

The S&P 500^® index (SPX) fell 30.06 points (0.6%) to 4,975.51; the Dow Jones Industrial Average lost 64.19 points (0.2%) to 38,563.80; the NASDAQ Composite declined 144.87 points (0.9%) to 15,630.78.
The 10-year Treasury note yield (TNX) fell about 2 basis points to 4.275%.
The CBOE Volatility Index^® (VIX) rose 0.71 to 15.42.

Nvidia shares fell 4.4%, weakness that helped drag down shares of other chip makers and contributed to a drop of 1.6% in the Philadelphia Semiconductor Index (SOX), which ended near a two-week low. Energy shares also took pressure as WTI crude oil futures (/CL) sank 1.6%. Small caps were also soft, as the Russell 2000^® Index (RUT) dropped 1.4%.

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RESOURCES: Financial and Economic Essays for Doctors and Healthcare Professionals

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

https://marcinkoassociates.com

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Informational essays of most current interest to healthcare professionals. Check back periodically for practical updates. Our catalogue library of major books, texts, case models and dictionaries is suggested for additional financial, economic, business and medical practice management information and education.

READ HERE: https://marcinkoassociates.com/articles-essays/

UPDATE: Prior ME-P Topics:

1-The number of balance billing disputes reaching arbitration is far higher than federal projections suggested.

2-Experts worry ACOs could face lasting financial difficulties due to an alleged $2 billion Medicare urinary catheter fraud scheme.

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INVITE DR. MARCINKO: https://medicalexecutivepost.com/2024/02/05/invite-dr-marcinko-to-speak-at-your-next-seminar-webcast-or-event-in-2024/

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DAILY UPDATE: Consumer Spending Down While CVS Earnings Up

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

By Staff Reporters

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To See What’s Next For Consumer Spending, Take a Closer Look at High ...

Stat: 0.8%. That’s how much consumer spending fell in January 204—a much bigger dip than expected (CNBC).

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

CVS reported strong results for its healthcare segment in 2023, showing a 10.2% increase in revenue compared to the prior year. Still, executives lowered the segment’s 2024 guidance in anticipation of rising medical costs, according to earnings released this month.

Finally, the US stock market reopens today after the long weekend, and everyone’s still talking about the Magnificent Seven. That’s because, according to a new report from Deutsche Bank, profits at these seven tech giants are greater than the profits of all publicly traded companies in nearly every G20 country. And in terms of market value, they’d be the second-largest national stock exchange in the world. Goldman Sachs sees this party lasting all night: It raised its 2024 target for the S&P 500 for the second time.

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DAILY UPDATE: BoA Personal Data Breach

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

By Staff Reporters

HAPPY PRESIDENT’S DAY 2024

The Stock and Bond Markets are Closed!

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

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Bank of America just acknowledged that the personal information of 57,028 of its customers has been compromised. This breach, attributed to a failure at Infosys McCamish Systems (IMS), a provider of insurance business process solutions engaged by the bank, poses a substantial risk of identity theft to the affected individuals.

The data breach notification, filed in Maine, reveals that sensitive information related to Bank of America’s deferred compensation plans was inadvertently accessed. IMS, in a notification letter to customers, disclosed that the compromised data encompasses a range of critical personal details. The accessed information includes customers’ names, addresses, business email addresses, dates of birth, Social Security numbers, and other account specifics. Such data is typically all required for an identity thief to execute fraudulent activities under another person’s name.

IMS’s admission that it might never be able to precisely identify what information was accessed underscores the severity and potential long-term consequences of the breach. This uncertainty adds an additional layer of anxiety for customers, highlighting the challenges in mitigating the aftermath of such security failures.

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

Finally, Walmart and Home Depot will be the star of the show this week they report their earnings for the holiday quarter. Nvidia will also try to keep its historic hot streak going when it reports on Wednesday—expectations are through the roof.

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DAILY UPDATE: Nike Stock Down but US Debt Burden Up Per Household

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

By Staff Reporters

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Nike is planning to restructure and lay off 2% of its staff, more than 1,500 people, as consumers pull back on spending.

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If the total U.S. debt were divided by every household in the country, each household would get about $252,000, according to a September tweet from The Kobeissi Letter.

And, Jerome Powell, the Chair of the Federal Reserve, shared his concerns regarding the fiscal direction of the United States during a “60 Minutes” interview with Scott Pelley.

Powell said, “The U.S. is on an unsustainable fiscal path,” emphasizing that the growth of the national debt is outstripping the growth of the economy.

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DAILY UPDATE: New CDC Covid-19 Guidelines as the Stock Markets Go Lower

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

By Staff Reporters

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The CDC may update Covid-19 isolation guidelines from five days to 24 hours if an individual is fever-free without medication—standardizing the protocol for the disease with the same rule for the flu and RSV. (the New York Times)

Here’s where the major benchmarks ended:

Stocks slumped into the long weekend yesterday, snapping a five-week weekly winning streak when they fell in the wake of wholesale price data that shows inflation is probably not as tamed as the Fed would like it to be. But Coinbase gave the latest indication that the crypto winter has thawed. The crypto exchange’s stock rose after it reported its first quarterly profit in two years.

The S&P 500 index fell 24.16 points (0.5%) to 5,005.57, down 0.4% for the week; the Dow Jones Industrial Average^® (DJI) lost 145.13 points (0.4%) to 38,627.99, down 0.1% for the week; the NASDAQ Composite^® (COMP) declined 130.52 points (0.8%) to 15,775.65, down 1.3% for the week.
The 10-year Treasury note yield (TNX) rose over 4 basis points to 4.285%.
The CBOE Volatility Index^® (VIX) rose 0.23 to 14.24.

Communications services and transportation shares were among the market’s weakest performers Friday, while energy companies firmed behind strength in crude oil futures. The small-cap Russell 2000^® Index (RUT) fell 1.4% Friday but still ended the week with a gain of 1.1%, its second straight weekly advance.

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DAILY UPDATE: Trump’s SPAC as the S&P 500 Records a New High

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

By Staff Reporters

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The U.S. Securities and Exchange Commission allowed Donald Trump’s media and technology company to merge with a blank-check acquisition [SPAC] vehicle in a deal that currently values the parent of his social media app Truth Social at as much as $10 billion.

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

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Here’s where the major benchmarks ended:

The S&P 500 index rose 29.11 points (0.6%) to 5,029.73; the Dow Jones Industrial Average^® (DJI) gained 348.85 points (0.9%) to 38,773.12; the NASDAQ Composite^® (COMP) added 47.03 points (0.3%) to 15,906.17.
The 10-year Treasury note yield (TNX) fell more than 2 basis points to 4.242%.
The CBOE Volatility Index^® (VIX) lost 0.37 to 14.01.

Bank shares were among the market’s strongest performers with an assist from Wells Fargo (WFC), whose shares jumped more than 7% following reports a bank industry regulator had ended a penalty it imposed after a fake accounts scandal.

Energy companies also posted outsized gains behind a rebound in crude oil prices. Also, small-cap shares extended a sharp upswing as the Russell 2000^® Index (RUT) gained 2.5% and ended at its highest level since late December.

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Corporate Stock REPURCHASE [Buy-Back] Programs

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

By Staff Reporters

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A stock buyback is when a public company uses cash to buy shares of its own stock on the open market. A company may do this to return money to shareholders that it doesn’t need to fund operations and other investments

Share buybacks can create value for investors in a few ways: Repurchases return cash to shareholders who want to exit the investment. With a buyback, the company can increase earnings per share, all else equal. The same earnings pie cut into fewer slices is worth a greater share of the earnings.

A stock buyback typically means that the price of the remaining outstanding shares increases. This is simple supply-and-demand economics: there are fewer outstanding shares, but the value of the company has not changed, therefore each share is worth more, so the price goes up.

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

But, the practice has faced criticism from labor unions, the SEC, and even President Biden, who proposed stricter stock buyback regulations for company execs last week.

Nevertheless,

Stock buybacks from S&P 500 companies are expected to pass $1 trillion this year, after hitting a record $882 billion in 2021, according to Goldman Sachs.
In recent years, Starbucks spent $13.5 billion repurchasing shares.

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Filed under: Glossary Terms, Investing | Tagged: Investing, stock buy-backs, stock buyback, stock re-purchase | Leave a comment »

DAILY UPDATE: Uber and the Stock Markets Rebound

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

By Staff Reporters

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Stocks rose yesterday after they plunged following Tuesday’s unexpectedly hot inflation report. And, investors hit the gas pedal on Uber when the company revealed it would buy back $7 billion worth of shares in its first-ever repurchase plan.

Here’s where the major benchmarks ended:

The S&P 500 index rose 47.45 points (1.0%) to 5,000.62; the Dow Jones Industrial Average^® (DJI) gained 151.52 points (0.4%) to 38,424.27; the NASDAQ Composite^® (COMP) added 203.55 points (1.3%) to 15,859.15.
The 10-year Treasury note yield (TNX) fell almost 5 basis points to 4.269%.
The CBOE Volatility Index^® (VIX) fell 1.47 to 14.38.

Small-cap shares were among the upside leaders Wednesday as the Russell 2000^® Index (RUT) surged 2.4% to erase over half of its 4% nosedive on Tuesday. Banks and semiconductors were also among the strongest sectors. Energy companies were under pressure after WTI crude oil (/CL) futures dropped 1.6% in the wake of a larger-than-expected increase in U.S. inventories.

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DAILY UPDATE: Stocks Markets Collapse!

Posted on February 14, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Off-the-charts inflation may be a distant 2022 phenomenon, but we’re not entirely over it. Price growth is still not back to levels that would satisfy Jerome Powell, and shoppers continue to deal with the fallout. Prices grew faster than economists expected last month, according to the consumer price index data the government released yesterday.

They climbed 0.3% in January (slightly more than in December) and 3.1% from a year prior. Excluding food and energy prices, January’s inflation was 0.4%, a bit over December’s reading, and 3.9% more than the prior January. And we point out that things aren’t so bad, since inflation isn’t too far from the Fed’s 2% annual target. But shoppers might argue that just because prices are growing more slowly doesn’t mean things are costing them less.

Here’s where the major benchmarks ended:

The S&P 500^® index (SPX) fell 68.67 points (1.4%) to 4,953.17, its lowest close since February 5; the Dow Jones Industrial Average lost 524.63 points (1.4%) to 38,272.75; the NASDAQ Composite^® (COMP) dropped 286.94 points (1.8%) to 15,655.60.
The 10-year Treasury note yield gained nearly 15 basis points to 4.316%.
The CBOE Volatility Index^® (VIX) rose 1.89 to 15.82.

Bank shares were among the worst performers Tuesday amid concerns the CPI numbers suggested the Fed will maintain a higher-for-longer interest rate tack that could crimp lenders’ margins. The KBW Regional Banking Index (KRX) plunged 4.5%. Small-cap stocks, another group sensitive to interest rates, also fell sharply, with the Russell 2000^® Index (RUT) sinking 4%.

In other markets, the U.S. Dollar Index (DXY) rallied about 0.7% to its strongest level in nearly three months, reflecting expectations interest rates will remain elevated.

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FINANCIAL ASSET CLASSES: Like a Box of Valentine Chocolates?

Posted on February 14, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

On Valentine’s Day Diversification

By Rick Kahler MS CFP® ChFC CCIM

www.KahlerFinancial.com

The stock markets crashed yesterday after the new CPI report and update.

Nevertheless, with displays of Valentine candy in every store, February is the perfect time to talk about chocolate. A creative financial planner might even steal Forrest Gump’s analogy and say, “Diversification is like a box of chocolates.”

Except that it isn’t.

True, a box of chocolates might have a lot of variety. Cream centers. Caramels. Nougats. Nuts. Dark chocolate. Milk chocolate. Truffles. Yet it’s all still chocolate.

Retirement Savings

Buying that box would be like investing your retirement savings in a variety of US stocks. Even if you had a dozen different companies, they would all be the same basic category of investment, or asset class.

For example, suppose you gave your true love a slightly more diversified Valentine gift made up of chocolates, Girl Scout cookies, baklava, and apple pie. That would compare to investing in different types of stocks like US, international, or emerging markets. But, everything would still be dessert.

Wiser Physician-Investors

You would be a wiser doctor-investor if you took your true love out for dinner and had a meat course, a salad, vegetables, bread, dessert, and wine. Now you’d start to see real diversification.

In addition to US, international, and emerging market stocks (all dessert), you might have some other asset classes like US and international bonds (meat), real estate (bread), cash (salad), commodities (veggies), and absolute return strategies (wine).

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Long Term Growth Generator

This kind of asset class diversification is the best investment strategy for long-term growth. My preference is eight or nine different classes. For many clients, I recommend a mix of US and international stocks and bonds, real estate investment trusts, a commodities index fund, market neutral funds like merger arbitrage and managed futures, junk bonds, and Treasury Inflation Protected Securities (TIPS).

Market Fluctuations

Fluctuations in the market will tend to affect the various securities within a given asset class in the same way. Most US stocks, for example, would generally move up or down at the same times. So, owning shares of several different stocks wouldn’t protect you against changes in the market. When a portfolio is well-diversified, the volatility is reduced even during times when the markets are moving strongly up or down.

When I talk about investing in a variety of asset classes, I don’t mean owning stocks, real estate, gold, or other assets directly. For individual investors, mutual funds are a much better choice. Occasionally, someone will ask me, “But why should I have everything in mutual funds? That isn’t diversified, is it?”

Mutual Funds

Mutual funds are not an asset class. A mutual fund isn’t like a type of food; it’s like the plate you put the food on. A single plate might hold one food item or servings from several different food groups. More specifically, mutual funds are pools of money invested by managers. One fund might invest in real estate investment trusts (REITS). Another might have international stocks chosen for their high returns. Still others invest in a diversified mix of asset classes. The mutual fund is just the container that holds the investments.

[Courtesy GE Healthcare]

Annuities

Annuities and IRAs aren’t asset classes, either, but are also examples of different types of containers that hold investments. If you use your IRA to purchase an annuity, all you’re doing is stacking one plate on top of another. It doesn’t give you another asset class, it just costs you more for the second plate.

Assessment

Having a box of chocolates for dinner might seem more appealing in the short term than eating a balanced meal. Investing in the “get-rich-now” flavor of the month might seem tempting, too. Yet in the long run, asset class diversification is the best way to make sure you have a healthy investment diet.

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February 14th, 2024

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Conclusion

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

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CRYPTO: Bitcoin Rising!

Posted on February 14, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Crypto may not be back to having celebs hawk it during the Super Bowl after a series of scams and bankruptcies rocked the industry, but yesterday, the price of bitcoin rose higher than $50,000 for the first time since December 2021.

Last month’s decision by US regulators to allow spot bitcoin ETFs, which pushes the digital currency toward the mainstream by making it easier for people to access, didn’t initially significantly drive up prices, but interest in the ETFs helped spur the recent rise.

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CPI LABOR DEPARTMENT FINANCIAL REPORT: Inflation Cools

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

By Staff Reporters

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

***

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

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

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

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

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DAILY UPDATE: MACRA Update, Crypto Restitution as the Markets Fade

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

HAPPY MARDI GRAS

By Staff Reporters

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In welcome news for physicians, a bipartisan group of senators will get to work on Medicare payment reform. The lawmakers plan to propose changes to the physician fee schedule and updates to the 2015 MACRA law.

***

Stat: $3+ billion. That’s how much restitution New York State Attorney General Letitia James is now seeking from Digital Currency Group, Genesis Global Capital, and Gemini, the crypto exchange run by the Winklevoss twins, for allegedly defrauding more than 230,000 investors, after initially suing in October (CNBC).

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Here’s where the major benchmarks ended:

The S&P 500 index fell 4.77 points (0.1%) to 5,021.84; the Dow Jones Industrial Average gained 125.69 points (0.3%) to 38,797.38; the NASDAQ Composite lost 48.12 points (0.3%) to 15,942.55.
The 10-year Treasury note yield (TNX) dropped more than 1 basis point to 4.173%.
The CBOE Volatility Index^® (VIX) rose 1.00 to 13.93.

Despite the mixed performance of large-cap stock indexes, several other market sectors got off to a strong start this week. Banking and retail were among the strongest performers, and the small-cap Russell 2000^® Index (RUT) surged 1.8% to end at its highest level since late December.

Tech shares erased early gains, with the Philadelphia Semiconductor Index (SOX) fading to a 0.2% loss after earlier rising to a record intra-day high.

Peterson noted shares of many semiconductor companies are well into technically overbought territory, which often can lead to sharp pullbacks, though the timing of such a move is difficult to pinpoint. He cited unusually elevated Relative Strength Index (RSI) readings, at 90-plus, for two AI darlings: Arm Holdings (ARM) and Super Micro Computer (SMCI).

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DAILY UPDATE: ARK and Palantir Growth

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

By Staff Reporters

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Wall Street eyes earnings, inflation report: It’s another big earnings week with Shopify, Coca-Cola, Airbnb, Coinbase, and Crocs among the companies scheduled to report. Investors will also be locked into tomorrow’s consumer price index report, which is expected to show more good news about inflation and raise hopes of a Fed rate cut.

***

Cathie Wood and her team have purchased over $160 million worth of Tesla stock since the start of the year. Wood’s flagship fund, the ARK Innovation ETF (NYSEMKT: ARKK), now owns about $640 million of Tesla stock, making the company the fund’s second-largest holding behind Coinbase.

***

Palantir reported 20% revenue growth to $608.4 million, ahead of the consensus at $602.4 million. Once again, the company delivered strong profitability with its fifth straight quarter of profitability according to generally accepted accounting principles (GAAP), coming in at $93 million, or a 15% profit margin.

The company experienced particularly strong growth in its U.S. commercial segment, where revenue was up 70% to $131 million, making up nearly a quarter of total sales. U.S. commercial total contract value jumped 107% to $343 million, and for 2024, it forecast 40% growth in U.S. commercial revenue to at least $640 million, showing that companies are starting to adopt an Automated Investment Plan.

On the bottom line, adjusted earnings per share doubled to $0.08, beating analyst estimates, as the company nearly held operating expenses flat once again, and guidance was solid as well.

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DAILY UPDATE: Impending C.P.I. and UPS

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

By Staff Reporters

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US Economists just polled by The Wall Street Journal forecast a mild 0.2% in increase in consumer prices in the first month of 2024. The inflation rate in the past 12 months would decelerate to 2.9% from a prior 3.4%. If forecasters are right, it would mark the first time the CPI has fallen below 3% in almost three years.

The drama in the report, if there’s any, is likely to come from the more closely followed core CPI that omits food and energy prices. The core rate is viewed as a better predictor of future inflation. Wall Street expects the core rate to rise 0.3% — the upper limit of what the Fed would find tolerable in the short run. The 12-month increase in the core rate could also dip to 3.7% from 3.9%.

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UPS, the shipping giant, which forecast weak demand for parcel delivery in 2024, has said it plans to lay off 12,000 employees to save $1 billion in costs. It’s also mulling a sale of its Coyote brokerage unit.

This shocking announcement was made on January 30th and comes just six months after unionized UPS workers landed a “lucrative” new labor deal, which will see delivery drivers earning an average of $170,000 in annual pay and benefits by the end of the five years. “2023 was a unique, and quite candidly, difficult and disappointing year,” said UPS CEO Carol Tomé during the company’s earnings call. “We experienced declines in volume, revenue and operating profits and all three of our business segments.”

***

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DAILY UPDATE: S&P 500 Stocks Extend Rise!

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

By Staff Reporters

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The S&P 500 index closed above 5,000 for the first time ever, as investors reflected on robust company earnings and data showing inflation rose even less than was previously thought in December. One stock that wasn’t going places: Expedia, which fell after reporting earnings that took a hit from low airfares.

Here’s where the major benchmarks ended:

The S&P 500 index rose 28.70 points (0.6%) to 5,026.61, up 1.4% for the week; the Dow Jones Industrial Average lost 54.64 points (0.1%) to 38,671.69, up 0.04% for the week; the NASDAQ Composite^® (COMP) surged 196.95 points (1.3%) to 15,990.66, up 2.3% for the week.
The 10-year Treasury note yield (TNX) rose less than 1 basis point to 4.175%.
The CBOE Volatility Index^® (VIX) rose 0.14 to 12.93.

Technology sector strength was highlighted by chip makers, as the Philadelphia Semiconductor Index (SOX) gained 2%. Regional banks also ended the week on a firm note after slumping in recent days, and small-cap stocks also firmed. The small-cap Russell 2000^® Index (RUT) jumped 1.5% Friday and ended the week with a gain of 2.4%, ending just below its high for the year.

In other markets, WTI crude oil (/CL) futures gained for the fifth straight day, completing a 7.2% gain for the week amid growing concern the Middle East conflict may disrupt supplies.

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Healthcare Corporate Business Updates

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

By Staff Reporters

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Walgreens tapped Mary Langowski, a former CVS Health executive, to lead its U.S. healthcare segment. The move comes as the retail pharmacy giant looks to boost profitability in its healthcare business.

CVS Health cut its outlook for 2024 on the back of higher medical costs in the fourth quarter. The drugstore chain, which owns Aetna, joins other healthcare companies to see a spike in utilization.

And … following up on a federal law passed in September to increase competition among organ transplant contractors, HRSA is issuing requests for proposals for several different contracts.

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DAILY UPDATE: Uber Profits with Extended Stock Market Gains

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

By Staff Reporters

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Stat: $1.43 billion. That’s Uber’s first full-year profit since 2018. And, it’s the first time the rides hare giant has shown a profit from its operations. The company has had $30 billion in operating losses since 2016. (the Wall Street Journal)

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Stocks ticked up, putting the S&P 500 over the 5,000-point milestone for the first time, as more strong company earnings poured in. And, Arm soared 48% after it surprised investors with record computer chip sales.

Here’s where the major benchmarks ended:

The S&P 500 index added 2.85 points (0.1%) to 4,997.91, after briefly rising to 5,000.40, breaching the 5,000 level for the first time; the Dow Jones Industrial Average gained 48.97 points (0.1%) to 38,726.33; the NASDAQ Composite climbed 37.07 points (0.2%) to 15,793.71.
The 10-year Treasury note yield (TNX) rose more than 5 basis points to 4.154%.
The CBOE Volatility Index^® (VIX) fell 0.04 to 12.79.

Semiconductor shares were among the strongest performers Thursday behind Arm Holdings (ARM), which soared 48% after the chip maker reported a better-than-expected quarter profit. The Philadelphia Semiconductor Index (SOX) gained 1.6%. Energy shares were also firm as WTI crude oil (/CL) futures surged 3.6% to a high for the month above $76 per barrel, reflecting growing concern the Middle East conflict may disrupt supplies.

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META: Stock Up!

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

By Staff Reporters

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2022 was a rough year for Meta. Inflation and high interest rates dinged the company, and Apple made changes to its operating system that made it harder for brands to target customers, and rival TikTok kept on growing. Meta’s stock price fell more than 60%.

But the company saw a dramatic turnaround of its fortunes in 2023. Its full-year net income rose 69% over 2022 to $39.1 billion. Its diluted earnings per share went from $8.59 to $14.87, a 73% YoY jump. Q4 2023 was especially good for Meta: Its net income more than tripled and its revenue rose 25%.

And for the first time, the company gave out cash dividends to investors. Technology analyst Ben Barringer described the move to CNBC as a “symbolic moment” that showed Meta viewed itself as a “mature, grown-up business.”

Meta’s success, though, required paring down. It reduced operating expenses in 2023 by laying off some 20,000 people, slashing its headcount by 22%. It spent $2.5 billion on “facilities consolidation,” or reducing its office footprint. The changes were part of a plan to make the company “leaner” so it would be better able to weather volatility over the next five to 10 years, CEO Mark Zuckerberg said.

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DAILY UPDATE: Bloomberg Health Staffing Philanthropy as Stock Markets Hit Record Highs, Again!

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

By Staff Reporters

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Billionaire Michael Bloomberg is taking a swing at the healthcare staffing shortage. His philanthropy arm recently dedicated $250 million to create high schools that move grads straight into healthcare jobs. The schools plan to partner directly with big-name health systems, including Mass General Brigham and Northwell Health.

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Stocks climbed as investors got good news from companies reporting their quarterly earnings, including Chipotle and Ford. NY Community Bancorp continued its wild ride since reporting surprise Q4 losses, finishing on an upward swing yesterday after reassuring investors about its liquidity and deposits—though it’s still down 31% from the beginning of the month.

Here’s where the major benchmarks ended:

The S&P 500 index rose 40.83 points (0.8%) to 4,995.06; the Dow Jones Industrial Average gained 156.00 points (0.4%) to 38,677.36; the NASDAQ Composite^® (COMP) added 147.65 points (1.0%) to 15,756.64.
The 10-year Treasury note yield (TNX) rose slightly more than 2 basis points to 4.117%.
The CBOE Volatility Index^® (VIX) fell 0.23 to 12.83.

Transportation shares were among the strongest performers behind gains in trucking companies like XPO, Inc. (XPO), which rallied 18% after reporting stronger-than-expected earnings before Wednesday’s open. The Dow Jones Transportation Average (DJT) rose 0.4% and hit its highest level since mid-August. Consumer discretionary and semiconductor shares also ranked among the strongest sectors.

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AMERICAN DREAM: Now Costs $3.4 Million?

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

By Staff Reporters

SPONSOR: http://www.MARCINKOASSOCIATES.com

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The classic “American Dream” including two kids, a house, and car now costs more than most folks make in a lifetime. According to Investopedia.

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SNAP: Employee Staff Layoffs

Posted on February 7, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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According to Wikipedia, Snapchat is an American multimedia instant messaging app and service developed by Snap Inc., originally Snapchat Inc. One of the principal features of Snapchat is that pictures and messages are usually only available for a short time before they become inaccessible to their recipients. The app has evolved from originally focusing on person-to-person photo sharing to presently featuring users’ “Stories” of 24 hours of chronological content, along with “Discover”, letting brands show ad-supported short-form content. It also allows users to store photos in a password-protected area called “my eyes only”. It has also reportedly incorporated limited use of end-to-end encryption, with plans to broaden its use in the future.

Snapchat was created by Evan Spiegel, Bobby Murphy, and Reggie Brown, former students at Stanford University. It is known for representing a mobile-first direction for social media, and places significant emphasis on users interacting with virtual stickers and augmented reality objects. In July 2021, Snapchat had 293 million daily active users, a 23% growth over a year. On average more than four billion Snaps are sent each day. Snapchat is popular among the younger generations, particularly those below the age of 16, leading to many privacy concerns for parents.

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So yesterday, Snap laid off 10% of its staff. The job cuts, which amount to roughly 540 people, are Snap’s largest since 2022. Ad revenue at the social media giant has slowed since Apple changed its privacy policy, making it harder for advertisers to access user data.

Meta also suffered from the changes but has rebounded after the company laid off thousands of workers as part of CEO Mark Zuckerberg’s “year of efficiency.” Snap’s layoffs prolong a ghastly start to 2024 for the tech industry, which has endured 32-K job cuts already this year, as per the Layoffs.

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DAILY UPDATE: Stock Markets Unchanged

Posted on February 7, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Stocks rose yesterday as investors mulled earnings reports that beat expectations from companies like Palantir and Spotify. But not every company had good news to share: Snap plunged after hours when it reported less revenue than expected and said the Middle East conflict was a headwind to growth. Meanwhile, New York Community Bancorp fell to its lowest since 1997, and Moody’s downgraded it to junk.

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Here’s where the major benchmarks ended:

The S&P 500^® index (SPX) rose 11.42 points (0.2%) to 4,954.23; the Dow Jones Industrial Average^® (DJI) gained 141.24 points (0.4%) to 38,521.36; the NASDAQ Composite^® (COMP)added 11.32 points (0.1%) to 15,609.00.
The 10-year Treasury note yield (TNX) fell about 7 basis points to 4.089%.
The CBOE Volatility Index^® (VIX) dropped 0.60 to 13.07.

Transportation shares were among the strongest performers Tuesday behind strength in United Parcel Service (UPS), which jumped 4.8% following an analyst upgrade. The Dow Jones Transportation Average (DJT) rose 2.1% to end at its highest level since late December. Energy shares also firmed as WTI Crude Oil (/CL) futures gained 1%.

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DAILY UPDATE: Powell Speaks and the Stock Markets Tumble

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

By Staff Reporters

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As Jerome Powell goes, so goes the market. Stocks tumbled yesterday after Federal Reserve Chairman Jerome Powell went on 60 Minutes over the weekend and said he’s in no rush to cut interest rates. Meanwhile, shares of Estée Lauder jumped ~12% after the cosmetics company announced it was laying off 5% of its employees amid weak demand in Asia.

Here’s where the major benchmarks ended:

The S&P 500 index fell 15.80 points (0.3%) to 4,942.81; the Dow Jones Industrial Average dropped 274.30 points (0.7%) to 38,380.12; the NASDAQ Composite^® (COMP) declined 31.28 points (0.2%) to 15,597.68.
The 10-year Treasury note yield surged nearly 14 basis points to 4.166%.
The CBOE Volatility Index^® (VIX) fell 0.18 to 13.67.

Materials and real estate sector shares were among the market’s weakest performers Monday, and banks and utilities were also under pressure. Semiconductors were one of the few sectors to post gains. In other markets, the U.S. Dollar Index (DXY) strengthened to its highest level since mid-November amid expectations interest rates will remain elevated.

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HOSPITAL OPERATING MARGINS: Non-Profits Still Down

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

By Staff Reporters

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Operating margins at not-for-profit hospitals are expected to “gradually improve” in 2024 but will still lag far behind pre-pandemic levels, according to a January report from credit rating agency Fitch Ratings.

Median operating margins for not-for-profit hospitals dipped to record lows during the pandemic, falling to 0.2% in 2022, according to the agency, which has yet to report numbers for 2023. In 2019, the median not-for-profit hospital operating margin was 2.4%, according to Moody’s.

Despite signs that margins are improving, they’re still “nowhere near” where they were pre-2020, and a “larger expense base will keep huge gains unlikely,” according to Fitch.

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“2024 will not be markedly better and certainly not the V-shaped recovery we’re hoping for,” Kevin Holloran, senior director and sector head at Fitch, said in a statement.

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DAILY UPDATE: Name Brand Drug Prices Up as Corporate Earnings Week Awaits

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

By Staff Reporters

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As the federal government seeks to rein in drug prices, pharmaceutical companies this year have been raising prices on hundreds of name-brand drugs. A new analysis by the drug research firm 46brooklyn Research found that companies increased prices on 910 branded drugs in January, although the median increase was 4.7% – the lowest drug inflation rate in more than a decade, the analysis shows.

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Whether you’re into (McDonald’s), (Disney), (Ford), (Chipotle), or paying extra for medicine (Eli Lilly), there’s an earnings report for you this week. A strong earnings season so far has helped push the major stock indexes to four straight weekly gains.

And, while Meta’s historic stock-pop hosted the headlines last week, Nvidia has quietly put together a phenomenal start to 2024. The chip-making giant added nearly $300 billion in market value in January, its biggest monthly gain ever. That’s one reason the S&P 500 is kicking off the week at a record high.

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DAILY UPDATE: Magnificent 3/7 Earning Season Reports

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

By Staff Reporters

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Apple, Amazon, and Meta just released their latest earnings season financials and the vibes were good. All three beat Wall Street’s revenue expectations, with Amazon reporting a gargantuan $170 billion for Q4 2023. Meta [FB] announced it will pay out its first-ever dividend to shareholders, sending its stock soaring in after-hours trading.

And Apple reported a revenue increase for the first time in a year as it prepares to launch the Vision Pro mixed-reality device today. Apple, however, also revealed a 13% sales decline in China amid local competition with Huawei.

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DAILY UPDATE: Prior Medical Authorizations Up as Stock Markets Rise to Record Highs!

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

By Staff Reporters

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A new set of rules from the Biden administration seeks to rein in private health insurance companies’ use of prior authorization – a byzantine practice that requires people to seek insurance company permission before obtaining medication or having a procedure. The cost-containment strategy often delays care and forces patients, or their doctors, to navigate opaque and labyrinthine appeals.

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Here’s where the major benchmarks ended:

The S&P 500 index rose 52.42 points (1.1%) to 4,958.61, up 1.4% for the week; the Dow Jones Industrial Average gained 134.58 points (0.4%) to 38,654.42, up 1.4% for the week; the NASDAQ Composite rallied 267.31 points (1.7%) to 15,628.95, up 1.1% for the week.
The 10-year Treasury note yield (TNX) surged about 16 basis points to 4.024%.
The CBOE Volatility Index^® (VIX) fell 0.04 to 13.84.

The market’s strength continued to be driven by the biggest companies, while smaller names lagged. The small-cap Russell 2000^® Index (RUT) fell 0.6% Friday and posted a drop of 0.8% for the week. In other markets, the U.S. dollar index (DXY) rose 0.8%, reaching its strongest level in nearly two months, amid expectations interest rates will remain elevated, which boosted demand for dollar-denominated assets, such as Treasuries.

***

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BANKS: Down

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

By Staff Reporters

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Commercial real estate has been on the struggle bus since the pandemic hit in 2020, and now it’s taking regional banks along for the ride.

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Recently, New York Community Bancorp (NYCB) shares took an 11% tumble—on top of a 38% plunge on Wednesday—after the bank said it’s dealing with surging losses from office buildings and multifamily apartment buildings. It’s a sign that commercial real estate (CRE) lenders are reckoning with the fact that they might not get their money back as commercial landlords struggle with high vacancies and interest rates:

More than $2.2 trillion in US commercial property loans will come due by 2027, according to the Wall Street Journal.
The default risk is worse for regional banks, where CRE loans make up nearly 29% of all assets, versus 6.5% at big national banks.

The KBW Regional Banking Index also dropped 9.2% since Wednesday, the most since Silicon Valley Bank’s collapse last year. (Coincidentally, most of the assets of Signature Bank, which failed shortly after SVB, were bought by NYCB.)

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DAILY UPDATE: Tech Industry Sheds Workers as the Stock Markets Rebound

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

By Staff Reporters

LEAP YEAR: This February month is a Leap Year. It’s stuffed with 29 days for 2024. If we didn’t have leap years, then our seasons would completely flip every ~750 years!

GROUND HOG DAY: A tradition observed in the United States and Canada on February 2nd of every year. It derives from the Pennsylvania Dutch superstition that if a ground hog emerges from its burrow on this day and sees its shadow, it will retreat to its den and winter will go on for six more weeks; if it does not see its shadow, spring will arrive early.

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The tech industry has shed tens of thousands of workers over the last year or so, including thousands this month alone across companies including Unity, Twitch, Amazon, Meta, Microsoft, eBay and Google. It also emerged that PayPal is firing around 2,500 people.

Here’s where the major benchmarks ended:

The S&P 500^® index (SPX) rose 60.54 points (1.3%) to 4,906.19; the Dow Jones Industrial Average (DJI) gained 369.54 points (1.0%) to 38,519.84; the NASDAQ Composite^® (COMP) added 197.63 points (1.3%) to 15,361.64.
The 10-year Treasury note fell over 10 basis points to 3.86%.
The CBOE Volatility Index^® (VIX) fell 0.47 to 13.88.

Regional bank shares remained under pressure in the wake of poorly received quarterly results earlier this week from New York Community Bancorp (NYCB), which took over the failed Signature Bank in 2023. The bank’s shares fell another 11% on top of a 38% drop Wednesday while the KBW Regional Banking Index (KRX) sank 2.3% to a two-month low. The bank weakness was offset by strength in several other sectors, including retail and consumer discretionary.

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FOMC: Interest Rates Hold Steady

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

By Staff Reporters

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

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

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

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

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

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Cigna Sells Medicare Part C as 23andMe Crashes

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

By Staff Reporters

HCSC will acquire Cigna’s Medicare Advantage, Part D, supplemental benefits and CareAllies businesses, and the parties expect the deal to close in the first quarter of 2025. And, as January exits, we enter the thick of earnings call season. This week executives at AbbVie, Cigna, and Merck—to name a few—will brief healthcare investors on how their companies fared in 2023, and provide insights on what to expect in 2024.

And, Anne Wojcicki’s billions have vanished. 23andMe’s valuation has crashed 98% from its peak and NASDAQ has threatened to delist its sub-$1 stock. Wojcicki reduced staff by a quarter last year through three rounds of layoffs and a subsidiary sale. The company has never made a profit and is burning cash so quickly it could run out by 2025.

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DAILY UPDATE: Microsoft, Google and IMF Up Yesterday, as UPS and the Stock Markets Collapse Today

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

By Staff Reporters

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Microsoft and Google rode the AI wave to huge quarters. Microsoft posted revenues of ~$62 billion in its fiscal Q2 ending Dec. 31, a year over year increase of 17.6% and ahead of analyst’s expectations. That was its best revenue growth in seven quarters, thanks to the release of new AI-enabled Office products. Meanwhile, Google reported strong results, too: Ad revenue at YouTube skyrocketed to $9.2 billion in Q4 of last year, up from below $8 billion the year before. Alphabet CEO Sundar Pichai said YouTube is “already benefiting from our AI investments and innovation.” Alphabet’s total revenue was up 13% year over year to ~$86 billion.

UPS slashed 12k jobs. The shipping giant said it will require employees to return to the office five days a week this year as it changes how it operates amid a slowdown in demand. Revenue declined in Q4, while annual sales fell 9.3% in 2023. Amazon, its biggest customer, accounted for 11.8% of revenue last year, up from the year before, as revenue from other customers declined due to lower demand and more in-store pickups, executives said. UPS is also dealing with higher labor costs due to the deal it made with the Teamsters union to avoid a strike last summer.

The IMF has the US to thank for raising its global forecast. The International Monetary Fund—the UN’s flagship financial agency—said the global economy will grow 3.1% this year, a slight increase from its projection in October. That’s largely due to the strength of the US economy, which has defied economists’ expectations, growing 3.3% in the fourth quarter of 2023. But the improved outlook was also boosted by economic stimulus in China, which has faced deflation and a real estate crisis, among other issues. Other economies, including India, Brazil, and Russia, also performed better than expected, helping to juice the IMF’s forecast.

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Here’s where the major benchmarks ended:

The S&P 500^® index (SPX) fell 79.32 points (1.6%) to 4,845.65; the Dow Jones Industrial Average^® (DJI) lost 317.01 points (0.8%) to 38,150.30; the NASDAQ Composite^® (COMP) dropped 345.89 points (2.2%) to 15,164.01, a two-week low.
The 10-year Treasury note yield (TNX) decreased nearly 9 basis points to 3.969%.
The CBOE Volatility Index^® (VIX) jumped 1.03 to 14.34.

Regional banks led Wednesday’s declines after New York Community Bancorp (NYCB), which took over the failed Signature Bank last year, reported a fourth-quarter loss of $193 million, sending its shares down nearly 38%. The KBW Regional Banking Index (KRX) sank 6%. Communications services shares were also among the weakest performers. Energy companies were also under pressure as WTI Crude Oil futures (/CL) shed nearly 3%.

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JANUARY: Doctors Beware Divorce Month

Posted on January 31, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

OVERHEARD IN THE ADVISOR’S LOUNGE
[January is Divorce Month]

SPONSOR: http://www.MARCINKOASSOCIATES.com

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January is nick-named the “divorce month” because of an uptick in activity for divorce lawyers after the New Year. Yet, January to April 15th is also a very low period in terms of people inquiring about divorce mediation. The reason is that couples generally want to know where they stand financially before pursuing divorce.

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And, with the economy improving in 2024, people may be less inclined to wait. While anecdotal evidence abounds, hard figures are more elusive. An analysis of national divorce filings between 2008 and 2011 by legal information website FindLaw.com found a spike in January and a gradual rise until a peak in late March.

Mediation: https://medicalexecutivepost.com/2023/08/12/a-step-wise-approach-to-the-divorce-mediation-process-for-doctors/

UPDATE 2024: The exclusivity of marriage in the contemporary era has dire, compounding consequences across generations. As researchers Shelly Lundberg, Robert A. Pollak and Jenna Stearns document, in 1960, people with and without college degrees married and formed families in a similar manner, but today, just 11% of childbirths for those with college degrees are non-marital, while 58% of childbirths for those without are. This cleavage makes possible what the Brookings Institution’s Melissa Kearney describes as “two-parent privilege,” an emerging phenomenon through which well-off couples transmit educational and economic advantages to their children. Viewed from this angle, it should not surprise us that many Americans think the rich are galloping ever further ahead.

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DAILY UPDATE: Evergrande and the FanDuel-Flutter as Stocks End Mixed Awaiting the FOMC

Posted on January 31, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Embattled China Evergrande ordered to liquidate by Hong Kong court

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China Evergrande, which owes $300 billion, ordered to liquidate. Yesterday, a Hong Kong court ordered the debt-burdened real estate firm to wind up its business—though it’s not clear if mainland Chinese authorities will enforce it. As one of the largest developers to struggle with debt, the company, which defaulted in 2021, has become a symbol of the real estate bust in China, which has so many homes sitting vacant that an ex-official admitted even its population of 1.4 billion could not fill them. Now, investors around the world will be watching the liquidation process to see how foreign investors fare as a test of how China’s system treats international businesses.

FanDuel parent Flutter lists on New York Stock Exchange. Rob Gronkowski visited the NYSE trading floor yesterday to celebrate the kickoff of the company selling shares in New York, which—for now—is a secondary listing to the European company’s primary London Stock Exchange listing. The move steps up its competition with DraftKings. And with US sports betting booming thanks to legal changes, the FanDuel parent wants to go all in and is proposing making the NYSE its primary trading venue, which would be a blow to the London exchange.

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Here’s where the major benchmarks ended:

The S&P 500^® index (SPX) fell 2.96 points (0.1%) to 4,924.97; the Dow Jones Industrial Average gained 133.86 points (0.4%) to 38,467.31; the NASDAQ Composite^® (COMP) lost 118.15 points (0.8%) to 15,509.90.
The 10-year Treasury note yield (TNX) tumbled about 3 basis points to 4.059%.
The CBOE Volatility Index^® (VIX) dropped 0.29 to 13.31.

Chipmaker shares were among the market’s weakest performers, with the Philadelphia Semiconductor Index (SOX) sinking 1.6%. The small-cap Russell 2000^® Index (RUT) lost 0.8%, giving back part of Monday’s 1.7% gain. Energy and financial companies were among the strongest sectors.

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DAILY UPDATE: Stock Markets Blast Off Again!

Posted on January 30, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Markets: Stocks had a strong start to the week, with the S&P 500 and the Dow once again hitting new records. That’s mostly thanks to a boom in Big Tech as investors anticipate a slew of high-profile earnings (not to mention a Fed meeting) this week. Microsoft, Meta, and Uber all reached all-time highs.

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Here’s where the major benchmarks ended today:

The S&P 500 index rose 36.96 points (0.8%) to 4,927.93; the Dow Jones Industrial Average gained 224.02 points (0.6%) to 38,333.45; the NASDAQ Composite^® (COMP) added 172.68 points (1.1%) to 15,628.04.
The 10-year Treasury note yield (TNX) dropped about 8 basis points to 4.08%.
The CBOE Volatility Index^® (VIX) rose 0.37 to 13.63.

Consumer discretionary and banks were among the market’s strongest sectors Monday, and small caps were also strong. The Russell 2000^® Index (RUT), a small-cap benchmark, outpaced its large-cap counterparts with a gain of 1.7%, ending near a four-week high. Energy shares took pressure after WTI Crude Oil futures (/CL) reversed an initial rally to a two-month high and ended with a loss of more than 1%.

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DAILY UPDATE: The Magnificent Seven Stocks

Posted on January 29, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Tech giants highlight busiest earnings week of the season: Five of the Magnificent Seven—Apple, Microsoft, Amazon, Meta, and Alphabet—will deliver their Q4 results, and we advise you against taking a shot every time AI is mentioned. On Wednesday, Boeing is scheduled to give an update on how the 737 Max 9 debacle will impact its 2024 forecasts. In all, 106 S&P 500 companies will report this week, including Starbucks, Pfizer, GM, and Big Oil.

Fed meeting and jobs report: As if those earnings won’t keep Wall Street on its toes, the Fed will wrap up its first meeting of the year on Wednesday and the January jobs report will drop on Friday. Chair Jerome Powell will almost certainly keep interest rates unchanged for now, but investors are keen to hear whether he predicts a rate cut in March. On the jobs front, US employers are expected to have continued hiring briskly in January, despite the wave of high-profile layoff announcements.

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DAILY UPDATE: U.S. GDP and Microsoft

Posted on January 28, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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The US GDP grew 3.3% in Q4, per the Commerce Department, annihilating Wall Street’s expectations of 2% growth. For the year, the US economy expanded 2.5% in 2023, up from 1.9% in 2022. That also outpaced Wall Street’s estimates from the beginning of the year. The growth was driven by strong consumer spending made possible by rising wages and a sturdy job market, even as the country dealt with inflation. That, too, improved in Q4: Prices increased 2.7% on an annual basis, down from a 5.9% increase the year prior. The GDP smash adds more fuel to the expectation that the Fed will cut interest rates this year.

The cuts across Xbox and Activision Blizzard account for 8% of Microsoft’s video game division. The tech giant closed on its $69 billion acquisition of Call of Duty-maker Activision Blizzard in October and has since made several leadership changes. CEO Bobby Kotick stepped down in December, and now Blizzard President Mike Ybarra has decided to leave, according to an internal memo obtained by The Verge. An upcoming survival game has also been canceled. The cuts come as several gaming-related companies, including Twitch, Discord, Unity, and Riot Games, have conducted layoffs.

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DAILY UPDATE: Stocks End Mixed

Posted on January 27, 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) fell 3.19 points (0.1%) to 4,890.97, up 1.1% for the week; the Dow Jones Industrial Average gained 60.30 points (0.2%) to 38,109.43, up 0.6% for the week; the NASDAQ Composite^® (COMP) dropped 55.13 points (0.4%) to 15,455.36, still up 0.9% for the week.
The 10-year Treasury note yield (TNX) rose about 1 basis point to 4.143%.
The CBOE Volatility Index^® (VIX) fell 0.19 to 13.26.

Energy shares extended a strong week as WTI Crude Oil futures (/CL) rallied further, reaching a two-month high just under $78 per barrel. Regional banks were also among the market’s strongest performers Friday. Small-cap stocks gained modestly to end a firm week with the Russell 2000^® Index (RUT) posting a weekly gain of about 1.8%.

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DAILY UPDATE: Stock Markets Close at Record Highs

Posted on January 26, 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 rose 25.61 points (0.5%) to 4,894.16, a record high close; the Dow Jones Industrial Average^® (DJI) gained 242.74 points (0.6%) to 38,049.13, also a record high; the NASDAQ Composite rose 28.58 points (0.2%) to 15,510.50.
The 10-year Treasury note yield (TNX) fell about 5 basis points to 4.13%.
The CBOE Volatility Index^® (VIX) rose 0.31 to 13.45.

Energy companies were among the market’s strongest performers Thursday, boosted by a rally in WTI crude oil (/CL) futures, which surged 2.8% and ended near a two-month high above $77 per barrel amid concerns conflict in the Middle East and the Russia-Ukraine war may disrupt global oil supplies.

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DAILY UPDATE: Mobile Payment Fraud Up as Economy Grows and Stock Markets Extend Gains

Posted on January 25, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Alarmed by a surge in fraud draining bank accounts through popular mobile payment apps like Venmo, Cash App and Zelle, Manhattan District Attorney Alvin Bragg, Jr., has sent scathing letters to the CEOs of each company, demanding immediate action to protect consumers.

In the letters, Bragg described the crimes as involving an unauthorized user gaining access to unlocked devices, then stealing significant sums of money from bank accounts by making purchases with the mobile payment apps and using financial information from them to open new accounts.

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And, the U.S. economy expanded at a 3.3% annualized pace in the final quarter of 2023, the Commerce Department said on Thursday.

Why it matters: It’s much stronger growth than economists expected and caps a year of economic resilience as the nation avoided a projected recession.

Here’s where the major benchmarks ended:

The S&P 500 index rose3.95 points (0.1%) to 4,868.55; the Dow Jones Industrial Average^® (DJI) lost 99.06 points (0.3%) to 37,806.39; the NASDAQ Composite gained 55.97 points (0.4%) to 15,481.92.
The 10-year Treasury note yield (TNX) increased about 4 basis points to 4.18%.
The CBOE Volatility Index^® (VIX) rose 0.59 to 13.14.

Tech-related strength helped boost the NASDAQ-100^® (NXD), which includes the NASDAQ’s largest non-financial companies, by 0.6% to a record close. Energy shares were also strong behind continued gains in WTI Crude Oil (/CL) futures, which rose 1.4% and settled near a two-month -high after the Energy Information Administration reported a 7.5% drop in U.S. oil production last week, reflecting disruptions from winter storms. Small-cap shares lagged as the Russell 2000^® Index (RUT) fell 0.7%.

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DAILY UPDATE: R.I.P. Medical Debt as Stock Markets End Mixed

Posted on January 24, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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New York City intends to wipe out more than $2 billion in medical debt for up to 500,000 residents, tackling a top cause of personal bankruptcy, Mayor Eric Adams just announced yesterday.

The city is working with RIP Medical Debt, a nonprofit that buys medical debt in bulk from hospitals and debt collectors for pennies on the dollar. The group targets the debt of people with low incomes or financial hardships and then forgives the amounts.

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

Here’s where the major benchmarks ended:

The S&P 500 index rose 14.17 points (0.3%) to 4,864.60; the Dow Jones Industrial Average lost 96.36 points (0.3%) to 37,905.45; the NASDAQ Composite^® (COMP) rose 65.66 points (0.4%) to 15,425.94.
The 10-year Treasury note yield (TNX) gained about 4 basis points to 4.138%.
The CBOE Volatility Index^® (VIX) fell 0.64 to 12.55.

Shares of banks and retailers were among the market’s weakest areas Tuesday, while consumer staples were among the upside leaders. Oilfield services companies were also strong, as strong quarterly results from Halliburton (HAL) helped offset a slide in crude oil futures. In other markets, the U.S. dollar index (DXY) hit its strongest level since mid-December, partly reflecting the Bank of Japan’s decision to keep short-term interest rates unchanged.

***

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***

Filed under: "Ask-an-Advisor", Breaking News, Drugs and Pharma, Ethics, Experts Invited, Financial Planning, Health Economics, Health Insurance, Healthcare Finance, Investing | Tagged: CBOE, COMP, DJIA, DXY, Eric Adams, medical debt, New York City, NSDAQ, NYC, RIP Medical Debt, S&P 500, TNX, US Dollar, VIX | Leave a comment »

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