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NATIONAL U.S. DEBT CEILING: Just Lifted!

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

By Staff Reporters

NO DEFAULT THIS YEAR

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The Senate just passed legislation to lift the nation’s debt ceiling and stave off what would’ve been an economically disastrous default days before Monday’s deadline. The final vote was 63-36. The bill will now go to President Joe Biden’s desk for his signature.

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Filed under: Breaking News, Ethics, Investing, LifeStyle | Tagged: debt ceiling, Joe Biden, national debt, national debt ceiling, national debt ceilinglifted, President Biden, Senate, US Debt ceiling, US national debt | Leave a comment »

DAILY UPDATE: US Budget Deal Passes House to Avoid Debt Ceiling -As- Closing Markets End May on Weak Note

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

By Staff Reporters

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According to ABC News, the US House of Representatives just approved a bill to raise the nation’s debt ceiling while cutting some government spending over the next two years, in a major victory for both the White House and Republican leaders as the country tip-toes closer to a historic default on its bills. The final vote was 314-117. Now, the deal moves to the Senate, where Majority Leader Chuck Schumer has promised to work to pass it quickly.

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Here is where the major benchmarks ended yesterday:

The S&P 500 Index was down 25.69 points (0.6%) at 4179.83; the Dow Jones industrial average was down 134.51 (0.4%) at 32,908.27; the NASDAQ Composite was down 82.14 (0.6%) at 12,935.29.
The 10-year Treasury yield was down about 5 basis points at 3.641%.
CBOE’s Volatility Index was up 0.26 at 17.74.

Regional banks were among the weakest performers Wednesday, while energy stocks also slumped as crude oil futures extended a recent sell-off.

The utilities and healthcare sectors were among the few gainers.

Despite weakness in technology, the NASDAQ still ended with a gain of 5.8% for the month, while the S&P 500 was up 0.3%. The U.S. dollar index rose to a 2½-month high.

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

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Filed under: "Ask-an-Advisor", Alerts Sign-Up, Alternative Investments, Financial Planning, Investing | Tagged: ABC News, banks, Budget deal, budget defecit, CBOE, Chuck Schumer, debt ceiling, DJIA, DOW, healthcare, House, regional banks, S&P 500, Senate, Treasury yields, US Dollar, utilities, Volatility Index, White House | Leave a comment »

DAILY UPDATE: U.S. Debt Ceiling Tentative Deal? … and Nvidia

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

By Staff Reporters

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Nvidia Stock - KeillerFenet

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Happy Summer 2023

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Key negotiators struck an agreement in principle Saturday night to extend the debt ceiling and avert a catastrophic default, just days before the Treasury Department says the U.S. could run out of money, according to three Republican sources. The deal — which will raise the federal debt limit in exchange for cuts to spending — still has to be converted into legislative language and pass both the Republican-led House and Democratic-controlled Senate. It follows weeks of negotiations led by President Joe Biden and Speaker Kevin McCarthy, amid demands by the GOP to extract spending cuts in exchange for allowing the nation to continue to pay the bills.

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Nvidia published thunderous first quarter earnings and shared insane forecasts for the second quarter that fueled its stock in after-hours trading. Nvidia shares, which closed at $305.38, soared nearly 29% to $393.49. This spectacular surge put Nvidia close to the symbolic threshold of $1 trillion in market value ($972 billion). Nvidia (NVDA) – Get Free Report said, in a statement, it expects revenue of around $11 billion, plus or minus 2%, for the second quarter of its fiscal year. This figure is about $4 billion higher than analysts’ expectations of $7.15 billion.

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

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

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Filed under: "Ask-an-Advisor", Alerts Sign-Up, Investing | Tagged: debt ceiling, debt ceiling deal, GOP, Kevin McCarthy, Nvidia, Treasury, US Debt, US debt Deal | Leave a comment »

DAILY UPDATE: MAXIM Data Breach, Gold and the Markets

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

By Staff Reporters

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Thousands of clients of Maxim Healthcare Services are about to receive a payment of up to $5,000 in compensation for a data breach. According to information obtained by The Sun, the private medical personnel company based in Columbia, Maryland; agreed to pay 2020 data breach claims filed in a class action lawsuit by residents of the state of California.

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Gold futures tallied a third consecutive session decline settling at their lowest in nearly a week as further strength in the U.S. dollar pressured prices for the precious metal. Gold gave up early gains that had been driven by uncertainty surrounding a U.S. debt-ceiling deal in Congress.

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And, here is where the major benchmarks ended yesterday:

The S&P 500 Index was down 30.34 points (0.7%) at 4115.24; the Dow Jones industrial average was down 255.59 (0.8%) at 32,799.92; the NASDAQ Composite was down 76.08 (0.6%) at 12,484.16.
The 10-year Treasury yield was up about 4 basis points at 3.742%.
CBOEs Volatility Index was up 1.52 at 20.04.

Technology and regional bank stocks were among the weakest sectors, with the Philadelphia Semiconductor Index down more than 2%. Energy was one of the few gainers among S&P 500 sectors as crude oil futures climbed to a three-week high of near $74 a barrel. The U.S. dollar index rose a third straight day to a two-month high.

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

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

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Filed under: "Ask-an-Advisor", Accounting, Financial Planning, iMBA, Inc., Investing, Risk Management | Tagged: debt ceiling, DJIA, DOW, gold, gold futures, markets, Maxim, Maxim Data Breach, Maxim Healthcare Services, NSDAQ, oil, S&P 500, Treasury yields | Leave a comment »

BREAKING: News on Yelp!

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

By Staff Reporters

Markets: Stocks sagged as investors wondered whether those “productive” debt-ceiling meetings would actually lead to the production of a deal to raise the borrowing cap. The “X-date” by which the US would default on its debts could arrive in eight days [June 6-8].

Stock spotlight: Yelp shares popped after an activist investment firm called on the review app to explore strategic alternatives, including a sale, the WSJ reported. The activist investor believes that Yelp could fetch a price that’s more than double its current value.

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Filed under: "Ask-an-Advisor", Breaking News, Ethics, Investing | Tagged: debt ceiling, debts, US debit ceiling, YELP | Leave a comment »

U.S. DEBT CEILING DISCUSSIONS: No So Fast!

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

By Staff Reporters

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Talks were “productive,” but no debt ceiling deal yet

As the US careens toward a June 1st deadline to avoid default, President Joe Biden and House Speaker Kevin McCarthy met last night and failed to reach an agreement to prevent economic chaos. Still, McCarthy called their discussion “productive” and “professional,” saying the tone was “better than any other time we’ve had discussions.”

MORE: https://abcnews.go.com/Politics/biden-negotiate-directly-mccarthy-debt-ceiling-republicans-move/story?id=99490207

Before the meeting, McCarthy acknowledged that a deal must be struck this week in order to get it through Congress prior to the deadline, but the two sides remain far apart on the Republican’s demands for spending cuts.

MORE: https://www.theguardian.com/us-news/2023/may/23/first-thing-biden-and-mccarthy-hold-productive-debt-talks-but-no-deal-reached

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Filed under: "Doctors Only", Ethics, Investing | Tagged: debt ceiling, Joe Biden, Kevin McCarthy, US Debt, US Debt ceiling | Leave a comment »

DAILY UPDATE: The Markets and Other Items

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

By Staff Reporters

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Here is where the major benchmarks ended yesterday:

The S&P 500^® Index was up 0.65 point at 4192.63; the Dow Jones industrial average was down 140.05 (0.4%) at 33,286.58; the NASDAQ Composite was up 62.88 (0.5%) at 12,720.78.
The 10-year Treasury yield was up about 3 basis points at 3.721%.
CBOE’s Volatility Index was up 0.38 at 17.19.

The NASDAQ-100 Index ended at a 13-month high, driven by gains in large tech companies. Lenders were also particularly strong, with the KBW Regional Banking Index up nearly 3%. Oilfield services companies also rose as crude oil futures ticked higher. Consumer staples was among the weaker sectors.

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Debt ceiling negotiations could result in less funding for state and local health officials to combat STDs. Remote work is making it easier for some family caregivers to fill care gaps. An RSV vaccine for pregnant women is another step closer to approval. Congress will question CIGNA over its practice of rejecting medical claims by the hundreds of thousands every month.

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

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

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Filed under: "Ask-an-Advisor", Alerts Sign-Up, Ethics, Health Economics, Health Insurance, Investing | Tagged: Cigna, debt ceiling, DJIA, DOW, gold, LWB, NASDAQ, oil, real estate, remote work, RSV, S&P 500, STDs, Treasury yields | Leave a comment »

DAILY UPDATE: U.S. Debt Ceiling and the WFH Stock Traders

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

By Staff Reporters

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Staff-level discussions over the debt ceiling and budget between the White House and congressional Republicans will resume later today evening after President Joe Biden and House Speaker Kevin McCarthy spoke by phone Sunday afternoon, according to a White House official.

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Traders who WFH do less crime. Employees of financial institutions who work the trading desk from home are less likely to commit securities fraud than in-person colleagues, according to a forthcoming article in European Financial Management.

One theory is that being out of the office shields do-gooders from their crime-inclined colleagues’ peer pressure, which is likely more potent face-to-face than over Slack. Remote work reduced the likelihood of misconduct reports among traders by nearly 15%, but it’s worth noting that the workers allowed to WFH are the ones who already showed a lower risk of committing securities violations.

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DAILY UPDATE: US Debt Ceiling

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

By Staff Reporters

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Treasury Secretary Janet Yellen warned this week that the government could run out of cash to cover its expenses as early as June 1st. Congress can avert the looming economic catastrophe by authorizing more government borrowing so the US can keep paying its bills and avoid an unprecedented default on its financial obligations.

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

But with the deadline just weeks away, lawmakers are locked in a game of chicken.

Republicans in Congress say they won’t increase the debt limit without budget cuts. Last month, the GOP-controlled House passed a bill that would lift the borrowing cap and slash government spending by around $3.2 trillion over 10 years.
But that bill is DOA in the Democrat-led Senate. Democrats insist the debt limit should be raised with no strings attached.

If the US does run out of money…look out. The Treasury would have a range of extremely bad to absolutely terrible belt-tightening options, including delaying payments to federal contractors and Social Security recipients, all to avoid falling behind on interest payments for Treasury bonds.

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Filed under: "Ask-an-Advisor", Accounting, Alerts Sign-Up, Investing | Tagged: bonds, debt, debt ceiling, Janet Yellen, treasury bonds, Treasury Secretary, US Debt, US Debt ceiling, Yellen | Leave a comment »

The U.S. Debt Ceiling

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

By Staff Reporters

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As the US just crashed into the $31.4 trillion debt ceiling as the Treasury Department began taking what it called “extraordinary measures” to prevent the government from defaulting on its debts and sparking an economic crisis.

These measures are a series of deep-cut accounting moves that allow the Treasury to continue making its payments. They include:

Suspending reinvestments into government funds for retired federal employees, such as the Civil Service Retirement and Disability Fund.
Selling existing investments in those funds to free up more outstanding debt.

And while these measures definitely aren’t ordinary…they probably aren’t so “extra,” either. The Treasury has resorted to them more than 12 times since 1985, including during the last debt-ceiling standoff in 2021.

Still, these steps amount to chugging water after eating a ghost pepper—the pain will return. Treasury Secretary Janet Yellen said her extraordinary measures will last through early June, giving lawmakers about five months to work out a deal to raise the debt ceiling.

NOTE: The US has never defaulted on its debt, but even the threat of it could be disastrous. The country’s first credit downgrade in history came during a debt-ceiling showdown in 2011.

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

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

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Why the Stock Markets CRASHED TODAY [9/20/21]?

Posted on September 20, 2021 by Dr. David Edward Marcinko MBA MEd CMP™

Feel Free to Add to the Our Growing List of Reasons!

BUT REMEMBER THAT CORRELATION IS NOT CAUSATION

BY DR. DAVID E. MARCINKO MBA CMP®

SPONSOR: http://www.CertifiedMedicalPlanner.org

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Chart: The Worst Stock Market Crashes of the 21st Century | Statista

THE LIST GOES ON

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China’s Evergrande Project Giant Contagion Jitters

Global and International Market Meltdowns

Crypto-Currency and Gas Price Tumbles

Depressed Automobile Rentals and Used Car Prices

Lowering US Treasury Bond Yields

US Debt Ceiling Risks and Looming Federal Shutdown

Travel Bans with Mask & Vaccine Debates During the Corono-Virus Pandemic

The $3.5 Trillion Dollar Senate Bill

Politics and Potential Federal Tax Law Changes

The National Park, Pacific North-West and California Wild Fires

The Weather, Flooding, Tornadoes, Hurricanes and Tropical Storms

Southern Border Immigration Crisis

A Dearth of Micro-Chips

Quadruple Witching Friday

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CORRECTION? https://www.msn.com/en-us/money/markets/the-odds-of-a-20-correction-in-stocks-are-rising-as-the-market-transitions-to-the-next-stage-of-its-cycle-morgan-stanley-warns/ar-AAODytg

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YOUR COMMENTS ARE APPRECIATED.

Feel free to add to our list.

Is this the start of a cyclical bear market?

MORE: https://medicalexecutivepost.com/2018/12/22/stocks-and-sectors-in-bear-territory/

MORE: https://medicalexecutivepost.com/2007/11/25/of-bull-and-bear-markets/

EVERGRANDE: https://www.msn.com/en-us/money/markets/evergrande-s-debt-crisis-has-jolted-the-stock-market-here-s-why-everyone-s-suddenly-worrying-about-china-s-2nd-largest-property-developer/ar-AAODW0q

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INVITE DR. MARCINKO: https://medicalexecutivepost.com/dr-david-marcinkos-

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Filed under: Breaking News, CMP Program, Experts Invited, iMBA, Inc., Industry Indignation Index, Investing, Touring with Marcinko | Tagged: bear cycles, bear markets, bull markets, business cycles, corona pandemic, David Edward Marcinko, debt ceiling, depressions, Evergrande, financial crisis, Investing, pandemic, recessions, senate bill, stock markets, Used Car Prices | 2 Comments »

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NATIONAL U.S. DEBT CEILING: Just Lifted!

DAILY UPDATE: MAXIM Data Breach, Gold and the Markets

BREAKING: News on Yelp!

U.S. DEBT CEILING DISCUSSIONS: No So Fast!

The U.S. Debt Ceiling

Why the Stock Markets CRASHED TODAY [9/20/21]?

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