DAILY UPDATE: Hospital Charges, Cannabis and Stocks as Markets Slump

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

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The prices hospitals charge for their services have long been opaque, but thanks to a 2021 hospital price transparency law, the picture is starting to come slightly into focus. And it turns out, there are some huge disparities in the prices hospitals charge that can’t be attributed to quality of care, according to a recent study from research institute Rand Corporation.

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🟢 What’s up

What’s down

  • Salesforce is down 19.73% after the cloud computing company missed revenue estimates for the first time since 2006 and projected slower sales in the coming quarter. Turns out not even commercials featuring hunky Matthew McConaughey could save the company’s quarter.
  • UIPath shares plummeted 34.06% after announcing disappointing results and lower forward guidance, and to add insult to injury got hit with an analyst downgrade from Bank of America.
  • Build-A-Bear Workshop got the stuffing knocked out of it, dropping 13.92% after it missed estimates on both the top and bottom lines.
  • Hormel sank 9.69% after missing earnings thanks to slower retail sales offsetting higher meat prices, leaving shareholders stuck eating bologna sandwiches for lunch.
  • Kohl’s dropped 22.88% in its worst day ever after the company announced a terrible quarter and forecast more issues ahead due to customers contending with inflation.

Here’s where the major benchmarks ended:

  • The S&P 500® index (SPX) fell 31.47 points (0.6%) to 5,235.48; the Dow Jones Industrial Averagedropped 330.06 points (0.9%) to 38,111.48; the NASDAQ Composite® ($COMP) declined 183.50 points (1.1%) to 16,737.08.
  • The 10-year Treasury note yield (TNX) lost more than 7 basis points to 4.548%.
  • The CBOE Volatility Index® (VIX) rose 0.19 to 14.47.

Interest-rate-sensitive sectors including banks and utilities were among the stronger performers Thursday, boosted by a pullback in Treasury yields from four-week highs posted earlier in the week. Stocks are still heading for a down week, with the S&P 500 on track for its first weekly decline out of the past six.

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Legal cannabis is a booming industry: An estimated $38.4 billion in medical and recreational cannabis was sold in the US in 2023, and that figure is projected to rise to $56.9 billion by 2028. The industry has grown an average of 29.1% per year between 2018 and 2023, according to IBISWorld.

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DAILY UPDATE: Cannabis, Healthcare and the Stock Market Rally!

Posted on April 27, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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Here’s where the major stock market benchmarks ended:

  • The S&P 500 index gained 51.54 points (1.0%) to 5,099.96, up 2.7% for the week; the Dow Jones Industrial Average® ($DJI) increased 153.86 points (0.4%) to 38,239.66, up 0.7% for the week; the NASDAQ Composite jumped 316.14 points (2.0%) to 15,927.90, up 4.2% for the week.
  • The 10-year Treasury note yield (TNX) lost about 4 basis points to 4.665%.
  • The CBOE Volatility Index® (VIX) fell 0.34 to 15.03.

Alphabet’s rally helped communication services reverse Thursday’s downturn, which was driven by disappointing quarterly results from Meta Platforms (META). The S&P 500 Communication Services index ($SP500#50) surged 4.7% Friday and ended the week with a 2.7% gain. Semiconductor shares were also strong, led by a 6% gain in Nvidia (NVDA). The Russell 2000® Index (RUT) added 1.1% Friday and posted a 2.8% advance for the week.

In other markets, WTI Crude Oil (/CL) futures rose slightly Friday, ending around $83.65 per barrel and shutting down a three-week losing streak.

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  • Midi Health, a health clinic geared toward women in midlife, raised $60 million in Series B funding to expand its network to 150 clinicians by the end of the year, among other efforts. (MobiHealthNews)
  • “We’re fooling ourselves if we think that’s cheap or can be done less expensively.”—Carmela Coyle, president and CEO of the California Hospital Association, on hospital finances and cutting costs (AP)
  • The federal government implemented new staffing rules to improve patient care, but most nursing homes won’t be able to meet that demand. (KFF Health News/NPR)

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The Biden administration is considering a change that would downgrade cannabis from a Schedule I drug to a Schedule III drug this year. The reclassification would have major effects on the business of cannabis, but for that to happen, the Drug Enforcement Agency needs proof of medical effectiveness.

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DAILY UPDATE: August Red, Cannabis Green, Covid-19 and the Markets

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

By Staff Reporters

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Despite a recent rally, stocks couldn’t climb out of the deep hole they dug themselves earlier in the month, and all three major indexes finished August in the red.

Cannabis companies were the clear winner following news that the Department of Health and Human Services recommended that green pot should be reclassified as a lower-risk substance.

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And, Anthony Fauci MD has said that there is “not going to be the tsunami of cases that we’ve seen” during the darkest days of the COVID-19 pandemic, following the emergence of two new variants of the virus. Speaking to the BBC, the former chief medical advisor to the president, who was regularly the face of the government’s response to the pandemic, played down the seriousness of the new strains, stressing that the vast majority of the population had enough immunity to prevent infections requiring medical intervention.

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Markets: The Dow wrapped up its best week since July as investors celebrated another rock-solid jobs report. The economy added 187,000 jobs in August, and the unemployment rate rose to 3.8% from 3.5%—signs that the labor market is cooling, but not so fast that it’s likely to spark a recession.

Here is where the major benchmarks ended:

  • The S&P 500 Index was up 8.11 points (0.2%) at 4,515.77; the Dow Jones Industrial Average (DJIA) was up 115.80 points (0.3%) at 34,837.71, up 1.4% for the week; the NASDAQ Composite (COMP) was down 3.15 points at 14,031.81, up 3.2% for the week.
  • The 10-year Treasury note yield (TNX) was up about 7 basis points at 4.177%.
  • CBOE’s Volatility Index (VIX) was down 0.49 at 13.08.

Financial companies were among the strongest performers Friday, with the KBW Regional Banking Index (KRX) gaining about 2.5% to a three-week high.

Energy shares were also strong as WTI crude oil futures extended gains after the Energy Information Administration earlier this week reported a larger-than-expected drop in U.S. inventories. Crude futures surged nearly 3% to ended near $86 a barrel, the highest since mid-November. Consumer staples and consumer discretionary were among the weakest performers.

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A 4/20 [Medical] Cannabis Culture Day Pictorial

Posted on April 20, 2022 by Dr. David Edward Marcinko MBA MEd CMP™

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About Four-Twenty Day

[By Anonymous DEA Agent]

Today is … 420, 4:20, or 4/20 (pronounced four-twenty)

And, it refers to consumption of cannabis and, by extension, a way to identify oneself with cannabis subculture. Observances based on the number include the time (4:20 p.m.) as well as the date (April 20).

Again … that’s today as this ME-P was published @ 4:20 p.m., EST!

THE DEA DESTROYS A POT FARM

PHOTOS: 

  1. Photo taken after the “grow” was eradicated. There is still no “pot” of gold at the end of the rainbow.
  2. DEA taking one of many seized vehicles/equipment.
  3. The marijuana farm was operating under the name “Brian’s Green Thumb Farm.”
  4. Inside the barn, Agents found rows and rows of drying marijuana.
  5. Over 2,000 pounds of drying marijuana from the barn, bagged and ready for destruction.
  6. Air view of the massive “grow” from the guard tower.
  7. One of two sleeping shelters, each guarding the middle perimeter. In the back, one of four tents, each positioned in the corners for guards.
  8. The plant being ripped out of the ground by the backhoe.

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Assessment

Link: http://en.wikipedia.org/wiki/420_(cannabis_culture)

In 2019: Carl’s Jr. was become the first major fast-food chain to debut a cannabis-infused burger.

Conclusion

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The Truth about the War on Drugs

Posted on May 23, 2011 by Dr. David Edward Marcinko MBA MEd CMP™

By Infographics

[Courtesy Staff Reporters and Medical Billing and Coding]

Here are some interesting facts about the nation’s war on drugs:

Conclusion

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