DAILY UPDATE: Stock Markets Up Beat!

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

MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING

***

Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants

“Serving Almost One Million Doctors, Financial Advisors and Medical Management Consultants Daily“

A Partner of the Institute of Medical Business Advisors , Inc.

http://www.MedicalBusinessAdvisors.com

SPONSORED BY: Marcinko & Associates, Inc.

***

http://www.MarcinkoAssociates.com

Daily Update Provided By Staff Reporters Since 2007.
How May We Serve You?
© Copyright Institute of Medical Business Advisors, Inc. All rights reserved. 2024

REFER A COLLEAGUE: MarcinkoAdvisors@msn.com

SPONSORSHIPS AVAILABLE: https://medicalexecutivepost.com/sponsors/

ADVERTISE ON THE ME-P: https://tinyurl.com/ytb5955z

***

Yesterday, sales of Wegovy more than doubled last quarter, and at least 25,000 people are starting to take it in the US per week. It also posted a $3.65 billion net profit and increased its sales outlook for 2024. But its stock Novo Nordisk still dropped yesterday.

***

iPhone sales are down but Apple share buybacks are up. Apple managed to keep investors happy, sending its stock shooting up after-hours yesterday, despite selling fewer iPhones last quarter. Sales of the signature phone dipped 10% year over year, and revenue fell 4.3% to $90.8 billion. But Apple also announced $110 billion in share buybacks, the largest in the company’s history, per CNBC. And sales in China, which has been a sore spot, came in at $16.4 billion, less than a year earlier but more than analysts had predicted.

***

Stocks rose yesterday as investors digested Jerome Powell’s recent comments and decided they only had to fear fear itself—and not interest rate hikes. Investors changed into the fast lane to buy Carvana after the used car sales site reported its best earnings ever Wednesday evening.

***

Stat: 16%. That’s the percentage by which CVS stocks plummeted Wednesday after the company reported earnings below expectations and cut its annual outlook, according to (CNBC).

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

But – Here’s where the major stock market benchmarks ended Thursday:

  • The S&P 500® index (SPX) rose 45.81 points (0.9%) to 5,064.20; the Dow Jones Industrial Average® ($DJI) added 322.37 points (0.9%) to 38,225.66; the NASDAQ Composite® ($COMP) surged 235.48 points (1.5%) to 15,840.96.
  • The 10-year Treasury note yield (TNX) dropped about 1 basis point to 4.583%.
  • The CBOE Volatility Index® (VIX) fell 0.71 to 14.68.

Transportation shares helped lead the market higher after C.H. Robinson (CHRW) reported stronger-than-expected quarterly results, sending the freight logistics and trucking company’s stock up 12%. The Dow Jones Transportation Average ($DJT) jumped 2.5%. Semiconductors were also strong after Qualcomm (QCOM) advanced 9.7% in the wake of the chip maker’s better-than-expected earnings.

Apple (AAPL) shares advanced 2.2% ahead of the company’s quarterly earnings report scheduled after Thursday’s close.

In other markets, WTI Crude Oil (/CL) futures bounced back to end with a slight gain after earlier dropping to a seven-week low under $78.50 per barrel.

CITE: https://tinyurl.com/2h47urt5

CITE: https://tinyurl.com/tj8smmes

COMMENTS APPRECIATED

PLEASE SUBSCRIBE: MarcinkoAdvisors@msns.com

Thank You

***

***

***

***

EDUCATIONAL TEXTBOOKS: https://tinyurl.com/4zdxuuwf

***

Filed under: "Ask-an-Advisor", Breaking News, Experts Invited, Financial Planning, Health Economics, Health Insurance, Health Law & Policy, Healthcare Finance, Information Technology, Investing, Marcinko Associates, Recommended Books, Sponsors, Touring with Marcinko | Tagged: , , , , , , , , , , , , , , , , , , , | Leave a comment »

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

***

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.

***

***

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.

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

COMMENTS APPRECIATED

Thank You

***

***

Filed under: "Ask-an-Advisor", Alternative Investments, Breaking News, Experts Invited, Financial Planning, Investing | Tagged: , , , , , , , , , , , | Leave a comment »

UPDATE: Carvana, DJIA, NASDAQ, S&P, Crypto, Gasoline and the US Budget Deficit

Posted on May 12, 2022 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

***

***

Carvana, the fast-growing used-car seller based in Tempe, announced its plans to lay off 2,500 employees – more than 10% of its workforce – as losses mount. The company, which operates a network of high-profile vehicle “vending machines” including one at Loop 202 and Scottsdale Road, said the move was designed to “better align staffing and expense levels with sales volumes.” Carvana reported a $506 million loss in its first quarter ending March 31st, well above red ink of $82 million during the same stretch of 2021, despite a 56% jump in revenue to $3.5 billion and a 14% increase in vehicles sold.

And, new inflation data scared some investors, who continued to dump riskier assets like cryptocurrencies amid the ongoing market selloff: The price of Bitcoin fell up to 7%, to around $29,000, according to Coin Metrics, before paring back losses. The price of the Terra (LUNA) cryptocurrency has fallen by more than 99 per cent, wiping out the fortunes of crypto investors. Terra, which ranked among the top 10 most valuable cryptocurrencies, dropped below $1 on Wednesday, having peaked close to $120 last month.

LINK: https://www.msn.com/en-us/money/markets/crypto-billionaires-vast-fortunes-are-destroyed-in-weeks/ar-AAXaijp?li=BBnb7Kz

Indices:

  • The Dow Jones Industrial Average fell 215 points, or 0.7%, to 31,949 after swinging between gains and losses after the opening bell.
  • The S&P 500 shed 46 points, or 1.2%, to 3,954.
  • The NASDAQ Composite fell 296 points, or 2.5%, to 11,445.

The national average for a gallon of gas surged to $4.40, the highest price recorded by AAA since it began keeping track in 2000 (though lower when adjusted for inflation than the high-water mark in July 2008, when gas was $5.36 per gallon in today’s dollars).

Finally, the US federal government’s budget deficit has shrunk by some $1.57 trillion so far this fiscal year, driven by record receipts from a strong economy and a slowdown in spending as pandemic-era programs fade.

***

COMMENTS APPRECIATED

Thank You

***

***

Filed under: Breaking News, Investing | Tagged: , , , , , , , , | Leave a comment »