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DAILY UPDATE: Friday Before Memorial Day Weekend and the Stock Market Collapse

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

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The Friday before Memorial Day is never action packed, and this year is no exception as earnings season begins to wrap up and economic readings slow down. Two reports to watch for tomorrow: April Durable Goods Orders and University of Michigan’s May sentiment report.

Durable Goods Orders are big-ticket items with a shelf life of three or more years—think appliances and furniture for consumers, or machinery, equipment, and vehicles for businesses. More durable goods orders indicate a healthy economy, as consumers and companies alike wouldn’t spend as much if they weren’t confident they could afford it, and also provides insight into how strong the manufacturing industry is.

The University of Michigan’s consumer sentiment index is a survey of consumers via telephone to better understand how they feel about the economy, what they’re spending their money on, etc. The preliminary findings earlier this month weren’t great thanks to sticky inflation, and tomorrow’s finalized readings won’t change much. But with the latest CPI reading indicating inflation might yet be tamed, next month’s report could be much more illuminating.

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Here’s where the major benchmarks ended:

The S&P 500^® index (SPX) fell 39.17 points (0.7%) to 5,267.84; the Dow Jones Industrial Average lost 605.78 points (1.5%) to 39,065.26; the NASDAQ Composite^® ($COMP) shed 65.51 points (0.4%) to 16,736.03.
The 10-year Treasury note yield rose more than 4 basis points to 4.479%.
The CBOE Volatility Index^® (VIX) rose 0.48 to 12.77.

Financial shares were among Thursday’s weakest performers amid ideas a “higher-for-longer” Fed rate outlook could pressure bank margins. The KBW Regional Bank Index (KRX) dropped almost 3% to a three-week low. Other interest-rate-sensitive sectors, including real estate and utilities, took pressure.

In other markets, WTI Crude Oil (/CL) futures fell for the fourth straight trading day and closed at a three-month low under $76 per barrel.

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Spot Ethereum ETFs were approved by the SEC in another big win for crypto, following the approval of spot bitcoin ETFs earlier this year.

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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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Filed under: "Ask-an-Advisor", Breaking News, Experts Invited, Financial Planning, Investing | Tagged: banks, CBOE, COMP, DJIA, DXY, fed, Federal Reserve, FOMC, inflation, IRS, Jerome Powell, KBW, KRX, NASDAQ, S&P 500, VIX | Leave a comment »

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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Filed under: Accounting, Financial Planning, Funding Basics, Insurance Matters, Investing | Tagged: banks, CRE, CRE loans, KBW, NYCB, real estate, Signature Banks, WeWork | Leave a comment »

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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Filed under: "Ask-an-Advisor", Breaking News, Drugs and Pharma, Ethics, Experts Invited, Financial Planning, Health Economics, Health Insurance, Healthcare Finance, Investing | Tagged: Alphabet, COMP, ebay, google, ground hog day, KBW, KRX, leap year, Meta, MSFT, NASDAQ, NYCB, PayPay, tech industry, tech stocks, Technology, technology layoffs, Twitch, Unity | Leave a comment »

DAILY UPDATE: UNH, Drizly and the Chinese Economy Down as Stock Slump Broadly

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

By Staff Reporters

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Many analysts are talking about a rebound in healthcare stocks in 2024. If that’s the case, investors should load up on shares of UnitedHealth Group (NYSE:UNH) and buy the dip after the company’s Q4 results. The largest healthcare insurer in the U.S. reported Q4 financial results that beat Wall Street forecasts on the top and bottom lines. But, UNH stock dropped 3% due to higher-than-expected utilization rate for medical services.

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Uber is shutting down alcohol delivery app Drizly, the company confirmed, three years after acquiring the platform for $1.1 billion. Drizly will officially shut down at the end of March, Uber told The Associated Press. That means orders are open until then, Drizly said in details posted on X, the platform formerly known as Twitter.

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And, after a rocky couple of years for the Chinese economy, the country’s stock market appears to be in free fall now, with authorities asking institutional investors not to sell stocks in an attempt to stabilize share prices as foreigners are pulling out. On Monday, Chinese equities dipped after the country’s central bank decided to keep its medium-term policy rate unchanged at 2.5 percent, failing to cut interest as was widely expected by investors. The country’s CSI 300 was at its lowest level since 2019, a record only previously beaten in October 2023.

Here’s where the major benchmarks ended:

The S&P 500^® index (SPX) fell 17.85 points (0.4%) to 4,765.98; the Dow Jones Industrial Average lost 231.86 points (0.6%) to 37,361.12; the NASDAQ Composite^® (COMP) declined 28.41 points (0.2%) to 14,944.35.
The 10-year Treasury note yield rose about 11 basis points to 4.06%.
The CBOE^® Volatility Index (VIX) rose 0.59 to 13.84.

Banks and energy shares were among the weakest performers Tuesday, the latter sector pressured by a 1.1% drop in crude oil futures. Climbing yields appeared to drag down financial shares, with the KBW Regional Banking Index (KRX) sinking 1.7% to its lowest level in over a month. Semiconductors were among the few sectors to post gains.

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DAILY UPDATE: DJIA Records a High as Treasury Yields Drop

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

By Staff Reporters

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MANY THANKS E.R. HEROES

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

Here’s where the major benchmarks ended:

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

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

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

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Filed under: Alternative Investments, Financial Planning, Funding Basics, Glossary Terms, Investing, Touring with Marcinko | Tagged: banks, DJIAm, emergency department, emergency room, energy, ER, FED IRs, FOMC, gold, inflation, KBW, KRX, Marcinko, markets, metals, NASDAQ, oil, real-estate, Russell Index 2000, RUT, S&P 500, stock markets, TNX, Treasury yields, utilities | Leave a comment »

DAILY UPDATE: Sidelines Awash with Cash in Up Markets

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

By Staff Reporters

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There’s almost $6 trillion of cash sitting on the sidelines in money-market funds, with the potential for some portion of it to be reallocated into “carefully selected risk assets.”

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This is according to Ali Dibadj, chief executive of London-based Janus Henderson Investors, which had $308.3 billion in assets under management as of September. About $187.9 billion, or 61%, of that was in equity strategies.

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Here’s where the major benchmarks ended:

The S&P 500 index was up 26.83 points (0.6%) at 4,594.63, up 0.8% for the week; the Dow Jones Industrial Average® (DJI) was up 294.61 points (0.8%) at 36,245.50, up 2.4% for the week; the NASDAQ Composite was up 78.81 points (0.6%) at 14,305.03, up 0.4% for the week.
The 10-year Treasury note yield was down about 14 basis points at 4.213%.
The CBOE® Volatility Index (VIX) was down 0.27 at 12.65.

Friday’s gains followed the market’s strongest month of the year, as the S&P 500 and NASDAQ surged 8.9% and 10.7% in November, respectively, their best monthly performances since July 2022. Among sectors, the KBW Regional Bank Index (KRX) jumped 5.3% Friday, and retail shares were also among the top gainers.

Shares of smaller companies extended a recent rally as the small-cap-focused Russell 2000® Index (RUT) gained 3.1% for the week and ended at a 2-1/2-month high.

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DAILY UPDATE: Government Shutdown Averted as US Markets Extend their Gains

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

By Staff Reporters

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Senate leaders voted Wednesday night in favor of the short-term government funding bill the House passed Tuesday night ahead of Friday’s shutdown deadline. House Speaker Mike Johnson pitched a two-step plan that he described as a “laddered CR” — or continuing resolution — that will keep the government funded at 2023 levels. The bill extends government funding until January 19th for the Veterans Affairs, Transportation, Housing and Urban Development and Energy departments, as well as for military construction. The rest of the government is funded until February 2nd, 2024.

Here is where the major benchmarks ended:

The S&P 500^® Index (SPX) was up 7.18 points (0.2%) at 4,502.88; the Dow Jones Industrial Average was up 163.51 points (0.5%) at 34,991.21; the NASDAQ Composite was up 9.45 points (0.1%) at 14,103.84.
The 10-year Treasury note yield (TNX) was up about 10 basis points at 4.541%.
CBOE’s Volatility Index (VIX) was up 0.02 at 14.18.

Retail and financial shares were among Wednesday’s strongest performers. The KBW Regional Banking Index (KRX) rose 1.3% to a 2½-month high. Transportation and consumer staples were also higher. Energy shares were one of the few laggards as crude oil futures sank more than 2% after the Energy Department reported a larger-than-expected increase in U.S. crude inventories.

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REAL ESTATE: Commissions

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

By Staff Reporters

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A federal jury in Missouri last week found the National Association of Realtors and large brokerages conspired to keep commissions artificially high, finding them liable for $1.8 billion in damages.

MORE: https://medicalexecutivepost.com/2023/01/19/real-estate-for-physician-investors/

This decision could have a major impact on anyone buying or selling a home. For one, it could lead to a 30% decrease in the $100 billion Americans pay in real estate commissions every year, according to investment banking firm Keefe, Bruyette & Woods (KBW).

MORE: https://medicalexecutivepost.com/2022/12/07/daily-update-down-real-estate-and-down-markets/

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DAILY UPDATE: Just the Down Markets

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

By Staff Reporters

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Here is where the major benchmarks ended Thursday:

The S&P 500^® Index (SPX) was down 5.56 points (0.1.%) at 4,258.19; the Dow Jones Industrial Average (DJI) was down 9.98 points at 33,119.57; the ASDAQ Composite (COMP)was down 16.18 points (0.1%) at 13,219.83.
The 10-year Treasury note yield (TNX) was down about 2 basis points at 4.716%.
CBOE’s Volatility Index (VIX) was down 0.14 at 18.44.

Consumer staples and retail shares were among the market’s weakest sectors Thursday. Energy shares were also under pressure as WTI crude oil futures extended a sharp selloff, sinking more than 2% to a five-week low. Since topping $95 a week ago, oil futures have tumbled 13% amid concerns that global demand may slow.

Financial stocks were among the strongest performers, with the KBW Regional Banking Index (KRX) gaining more than 2%.

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Filed under: "Ask-an-Advisor", Alerts Sign-Up, iMBA, Inc., Investing | Tagged: CBOE, crude oil, DJIA, DOW, KBW, markets down, NSDAQ, oil, regional banks, Russell 2000, S&P 500, VIX, WTI | Leave a comment »

DAILY UPDATE: Moody’s Warns of ‘Mild’ Recession”with Bank Watch and the Markets

Posted on August 9, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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(UPI) — A drain on deposits, along with the decline in asset value in a high-interest rate environment, led to a downgrade in ratings for a handful of U.S. banks, Moody’s said. Moody’s Investors Service downgraded the credit rating for smaller lenders such as Pinnacle Financial and put major banks such as Northern Trust under review.

In a report published late Monday, Moody’s said banks may be facing a liquidity and capital crisis “as the wind-down of unconventional monetary policy drains system-wide deposits and higher interest rates depress the value of fixed-rate assets.” Second quarter results for many banks, meanwhile, revealed a struggle to generate profit at a time when Moody’s expects a “mild” recession to emerge in the U.S. economy by early 2024. The investment service added that there was a particular risk coming from the commercial real estate portfolios for some of the banks under review.

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Here is where the major benchmarks ended:

The S&P 500 Index was down 19.06 points (0.4%) at 4,499.38; the Dow Jones Industrial Average (DJIA) was down 158.64 points (0.5%) at 35,314.49; the NASDAQ Composite was down 110.07 points (0.8%) at 13,884.32.
The 10-year Treasury note yield (TNX) was down about 5 basis points at 4.028%.
CBOE’s Volatility Index (VIX) was up 0.27 at 16.04.

Financial and technology shares were among the weakest sectors Tuesday, with the KBW Regional Banking Index (KRX) dropping about 1.5%. Energy stocks were strong as crude oil futures climbed more than 1%.

Volatility based on the VIX spiked to its highest level since late May before receding late in the session. The U.S. Dollar Index (DXY) strengthened on expectations domestic interest rates will remain higher than those in other countries.

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Filed under: "Ask-an-Advisor", Alerts Sign-Up, Experts Invited, Investing, Op-Editorials | Tagged: A&P 500, CBOE, DJIA, DOW, DYX, KBW, KRX, Moody's bank watch, NASDAQ, Northern Trust, Pinnacle Financial, recession, regional banks, VIX | Leave a comment »

DAILY UPDATE: CVS Layoffs, AT&T and the Markets

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

By Staff Reporters

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CVS Health is eliminating about 5,000 jobs in an effort to reduce costs as it turns its focus to healthcare services, the company said Tuesday. The cuts represent less than 2% of the company’s total workforce, which comprised of roughly 300,000 employees at the end of 2022. The layoffs will affect “non-customer facing positions,” the company said in an emailed statement to USA TODAY.

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AT&T Inc.’s human resources chief, Angela Santone, will leave the company at the end of September, just as the telecommunications giant is eliminating thousands of jobs as part of a newly expanded $8 billion cost-reduction program. Chief Executive Officer John Stankey informed employees last week in an email that Santone was leaving. She is one of only three female top executives at AT&T.

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Here is where the major benchmarks ended:

The S&P 500 Index was down 12.23 points (0.3%) at 4,576.73; the Dow Jones Industrial Average (DJIA) was up 71.15 points (0.2%) at 35,630.68; the NASDAQ Composite (COMP) was down 62.11 points (0.4%) at 14,283.91.
The 10-year Treasury note yield was up about 8 basis points at 4.037%.
Cboe’s Volatility Index (VIX) was up 0.29 at 13.92.

Financials were among the weakest sectors Tuesday, with the KBW Regional Banking Index (KRX) falling more than 1%.

Energy shares were also under pressure as crude oil futures pulled back from a recent rally.

The U.S. Dollar Index (DXY) strengthened for a fourth consecutive day, rising to its highest level in about three weeks.

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DAILY UPDATE: Post Independence Day, Stock Futures and Future Salaries

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

By Staff Reporters

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Here is where the major benchmarks ended on Monday:

The S&P 500 Index was up 5.21 points (0.1%) at 4,455.59; the Dow Jones Industrial Average (DJIA) was up 10.87 points at 34,418.47; the NASDAQ Composite was up 28.85 points (0.2%) at 13,816.78.
The 10-year Treasury note yield (TNX) was up about 4 basis points at 3.862%.
The CBOE Volatility Index^® (VIX) was little changed at 13.58.

Financial companies had a good day Monday, with the KBW Regional Banking Index (KRX) rising more than 2%.

The consumer discretionary sector was also strong, while energy companies got a bump as crude oil futures reached their highest level in more than a week.

Health Care stocks lagged.

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Wall Street is hoping for a strong start to the second half of 2023 taking cues from the recent tech rally that has boosted the overall investor sentiment. Turning toward the U.S.-China trade war, on Monday, the mainland posed restrictions on the export of gallium and germanium to the U.S. citing national security concerns. These metals are used in semiconductor manufacturing and the curb is being used as a means of retaliation to the U.S. chip ban on China.

Remarkably, Tesla (NASDAQ:TSLA) stock has been on an uphill climb lately, thanks to the growing adoption of its North American Charging Standard (NACS) charging connectors by major automakers including General Motors (NYSE:GM), Ford (NYSE:F), and Rivian (NASDAQ:RIVN). Moreover, the EV maker posted better-than-expected auto delivery and production numbers for the month and quarter ending June 30, pushing shares up 6.9% on July 3.

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Future Salaries Will Decrease?

Median incomes are projected to drop over the next few decades, falling by 0.43 percentage points per year between now and 2020, 0.52 points per year between 2020 and 2030, and 0.2 points per year between 2030 and 2040.

Although the figures on their own are not staggering, the percentage drops over time will add up significantly. By 2050, an employee who earned $50,000 in 2013 will only make $44,000. The number is even more noticeable after accounting for inflation.

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DAILY UPDATE: Economic News Lifts Stocks

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

By Staff Reporters

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Big banks powered the Dow higher h of positive economic headlines dropped. Financial institutions aced their Fed “stress test” that measures how they’d hold up during a downturn, Q1 GDP was revised much higher than previously calculated, and the number of Americans filing new unemployment claims fell the most in 20 months.

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Solid economic numbers lifted the S&P 500 and Russell 2000 to nearly two-week highs. So, here is where the major benchmarks ended:

The S&P 500 Index was up 19.58 points (0.5%) at 4,396.44; the Dow Jones Industrial Average (DJIA) was up 269.76 points (0.8%) at 34,122.42; the NASDAQ Composite (COMP) was little changed at 13,591.33.
The 10-year Treasury note yield (TNX) was up nearly 13 basis points at 3.838%.
CBOE’s Volatility Index (VIX) was up 0.11 at 13.54.

Financial companies were among the strongest sectors Thursday, with the KBW Regional Banking Index (KRX) rising nearly 2% to its highest level in over a week.

Oilfield services stocks also gained behind strength in crude oil futures, which briefly climbed above $70 a barrel to their highest price in a week. Communications services and technology shares were among the weakest sectors.

The U.S. Dollar Index (DXY) strengthened to its highest level in over two weeks amid expectations for higher interest rates.

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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, Alternative Investments, Financial Planning, Funding Basics, Investing, Risk Management | Tagged: banks stress test, big banks, DJIA, DOW, DXY, energy, GDP, gold, KBW, NASDAQ, oil, S&P 500, TNX, treasury index, US Dollar, VIX | Leave a comment »

DAILY UPDATE: The Turkish Lira Plunges, Janet Yellen Speaks and the Markets Diverge

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

By Staff Reporters

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Turkey’s lira plunged 7% to a record low yesterday in its biggest selloff since a historic 2021 crash, a move traders said is a “strong signal” that Ankara is moving away from state controls toward a freely traded currency. The currency has come under increasing pressure since President Tayyip Erdogan was re-elected on May 28. It was trading at 23.18 against the dollar at 1500 GMT, after touching a record low of 23.19, bringing its losses this year to around 20%.

***

Treasury Secretary Janet Yellen, in her first interview since the U.S. debt-ceiling was lifted last week by Congress, warned on Wednesday about the potential for banks to feel strain from their exposure to weakening commercial real estate valuations. Yellen was asked by CNBC “Squawk Box” host Andrew Ross Sorkin about if she’s worried about the state of estimated $20.7 trillion commercial real-estate market, particularly the office, and if weakness in the sector could potentially spark more bank failures.

“Well, I do think that there will be issues with respect to commercial real estate,” Yellen said. “Certainly, the demand for office space since we’ve seen such a big change in attitudes and behavior toward remote work has changed and especially in an environment of higher interest rates.”

***

The equities market diverged today between a small handful of strong-performing mega-cap companies, which delivered most of the gains recently in the big benchmark indexes, and the lagging majority. Such concentration suggests a weakness below the headline numbers that could become a problem down the line.

Here is where the major benchmarks ended today:

The S&P 500^® Index (SPX) was down 16.33 points (0.4%) at 4267.52; the Dow Jones Industrial Average (DJIA) was up 91.74 (0.3%) at 33,665.02; the NASDAQ Composite (COMPX) was down 171.52 (1.3%) at 13,104.90.
The 10-year Treasury note yield (TNX) was up about 9 basis points at 3.791%.
CBOEs Volatility Index (VIX) was down 0.04 at 13.92.

Smaller financial companies were also in the spotlight again, with the KBW Regional Banking Index (KRX) continuing its rebound with a nearly 4% jump. Energy stocks were also strong as crude oil futures climbed more than 1%, and transportation companies also gained. Communication Services led decliners among S&P 500 sectors.

***

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", Alternative Investments, Financial Planning, Investing | Tagged: CBOEX, commercial real estate, DJIA, DOW, gold, Janet Yellen, KBW, markets diverge, NASDAQ, oil, real estate, S&P 500, turkey lira, turkey lirga plunge, Yellen Speaks | Leave a comment »

DAILY UPDATE: Markets Rally After US Debt Deal!

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

By Staff Reporters

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The end of debt standoff and a stronger-than-expected jobs report helped boost the Dow to its biggest gain in over six months, while the NASDAQ is near a 14-month high.

Here is where the major benchmarks ended yesterday:

The S&P 500^® Index (SPX) was up 61.35 points (1.5%) at 4282.37, near a 10-month high; the Dow Jones industrial average was up 701.19 (2.1%) at 33,762.76; the NASDAQ Composite was up 139.78 (1.1%) at 13,240.77.
The 10-year Treasury note yield (TNX) was up about 9 basis points at 3.695%.
CBOE’s Volatility Index (VIX) was down 1.07 at 14.58.

Financial companies were among the strongest performers Friday, with the KBW Regional Banking Index (KRX) rising more than 6%.

Oilfield services companies and others in the energy sector were also strong, as crude oil futures extended a recent rally above $70 per barrel. Volatility measures dropped as the debt ceiling deal removed a source of uncertainty, with the VIX hitting its lowest level since July 2021.

***

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, Funding Basics, Investing | Tagged: DJIA, DOW, KBW, KRX, Markets Rally, NASDAQ, oil, Regional Bank Index, S&P 500, US Debt, US debt Deal, VIX, Volatility Index | Leave a comment »

DAILY UPDATE: Janet Yellen Speaks on Regional Banks plus Stock Indexes

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

By Staff Reporters

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Regional bank stocks slid again on Friday on fears that more banks might fail or need intervention from the government. The KBW Regional Bank index fell by nearly 3% from rumors that Treasury Secretary Janet Yellen said additional bank consolidations might need to occur, according to a CNN report.

***

Yesterday, stocks turn south after Republicans walked out on debt ceiling talks, but the S&P 500 and NASDAQ are still higher for the week. In summary:

The Dow Jones Industrial Average fell 109.28 points, or 0.3%, to close at 33,426.63.
The S&P 500 fell 6.1 points, or 0.1%, to finish at 4,191.98.
The NASDAQ Composite dropped 30.94 points, or 0.2%, to end at 12,657.90.

All three major indexes booked weekly gains, with the Dow rising 0.4% to snap two straight weeks of losses. The S&P 500 saw a 1.6% gain for the week, also snapping back-to-back weekly losses; the NASDAQ rose 3% in a fourth straight week of gains for its longest winning streak since the week ending Feb. 3rd, according to Dow Jones Market Data.

***

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, Financial Planning, Investing | Tagged: CNN, DJIA, DOW, Janet Yellen, KBW, NASDAQ, regional banks, republicans, S&P 500, stock indexes | Leave a comment »

DAILY UPDATE: Holmes to Prison as Major Financial Benchmarks Rise!

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

By Staff Reporters

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***

Elizabeth Holmes has been ordered to report to prison on May 30th after an appeals court denied her bid to stay out of jail while she challenges her conviction for defrauding Theranos’s investors.

***

Here is where the major benchmarks ended yesterday:

The S&P 500^® Index was up 48.87 points (1.2%) at 4158.77; the Dow Jones industrial average was up 408.63 (1.2%) at 33,420.77; the NASDAQ Composite was up 157.51 (1.3%) at 12,500.57.
The 10-year Treasury yield was up about 3 basis point at 3.577%.
CBOE’s Volatility Index was down 1.11 at 16.88.

Financials were among the strongest performers, with the KBW Regional Banking index soaring over 7%. Semiconductors also climbed and oilfield services companies gained as crude oil futures surged nearly 3%. Utility stocks were among the laggards.

***

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: bench marks, CBOE, DJ, DJIA, Elizabeth Holmes, gold, Holmes, KBW, NASDAQ, oil, S&P 500, stock bench marks, Theranos, Treasury yields, utilities, utility stocks, Volatility Index | Leave a comment »

DAILY UPDATE: Consumer Discretionary Stocks as Philip Jefferson Opines

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

By Staff Reporters

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***

Here is where the major benchmarks ended this week:

The S&P 500 Index was down 6.54 points (0.2%) at 4124.08; the Dow Jones industrial average was down 8.89 at 33,300.62; the NASDAQ Composite was down 43.76 (0.4%) at 12,284.74.
The 10-year Treasury yield was up about 7 basis points at 3.464%.
CBOE’s Volatility Index was up 0.10 at 17.03.

Consumer Discretionary Socks led the declines Friday among S&P 500 sectors, with financials and energy shares also weaker. Worries over the potential for more trouble in the banking sector helped send the KBW Regional Bank Index to its lowest close since late 2020. Utilities and Consumer Staples were among the stronger performers.

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

***

Jerome Powell May Get a New No. 2. President Biden said yesterday that he would nominate economist Philip Jefferson, who is already on the Fed’s board, to become second-in-command at the central bank, replacing Lael Brainard. He also plans to nominate the current US rep to the World Bank, Adriana Kugler, to an empty board seat. She would be the Fed’s first Latina governor. If confirmed by the Senate, the pair will jump into their new roles as the Fed continues to try to curb inflation without tipping the economy into a recession.

***

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

***

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, Alternative Investments, Financial Planning, Investing | Tagged: CBOE, central bank, consumer discretionary stocks, DJIA, DOW, Federal Reserve, FOMC, Jerome Powell, KBW, NASDAQ, Philip Jefferson, S&P 500, Treasury yields, World Bank | Leave a comment »

DAILY UPDATE: Facebook Not Trusted while Markets Go Down

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

By Staff Reporters

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Happy Cinco de Mayo. The holiday commemorates the defeat of French forces by the Mexican army at the Battle of Puebla in 1862, but its popularity jumped in the 1980s when beer companies began to leverage Cinco de Mayo in marketing campaigns.

***

The antitrust watchdogs at the Federal Trade Commission (FTC) just tore into Facebook saying the agency has caught the social media giant violating kids’ data privacy for profit — for the third time. Now the FTC has had enough. In a new proposal to protect kids, the agency wants to ban the platform from ever monetizing youth data again. In a ferocious rebuke, the FTC said Facebook defied its direct order to protect kids’ online privacy and broke the promise the company made in a 2019 consent order when it was forced to pay a $5 billion penalty for violating a 2012 order.

***

Here’s where the major indexes ended:

The S&P 500 Index was down 29.53 points (0.7%) at 4061.22; the Dow Jones industrial average was down 286.50 (0.9%) at 33,127.74; the NASDAQ Composite was down 58.93 (0.5%) at 11,966.40.
The 10-year Treasury yield was down about 4 basis points at 3.364%.
CBOE’s Volatility Index was up 1.74 at 20.08.

Financial stocks led the market’s declines, with the KBW Regional Banking index sinking nearly 3% to its lowest level since November 2020. Transportation stocks were also under pressure as banking sector troubles exacerbated recession concerns. Crude oil futures initially extended this week’s slump, dropping under $64 a barrel to a 17-month low before rebounding.

***

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, Financial Planning, Investing | Tagged: banking index, banks, CBOE, cinco, DJIA, DOW, Facebook, FB, FTC, gold, KBW, mayo, Meta, NASDAQ, oil, S&P 500, treasury yeilds | Leave a comment »

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