DAILY UPDATE: Veterans Scammed as 3 Major Markets Drop

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

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Read: Health insurers reportedly took billions of dollars from Medicare to cover veterans who didn’t use services. (the Wall Street Journal)

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US stocks closed the holiday week on a downbeat note as Wall Street slogged to the finish of a largely triumphant year.

The S&P 500 (^GSPC) lost 1.1%, while the tech-heavy NASDAQ Composite (^IXIC) shed 1.5% Friday at the close. The Dow Jones Industrial Average (^DJI) gave up 0.8%. Meanwhile, the 10-year Treasury yield (^TNX) hovered near seven-month highs around 4.6%.

After stacking impressive gains this year, some of the biggest names in tech lost ground as investors took profits, rebalance portfolios, or reassessed their lofty valuations. Tesla (TSLA) lost 5%. Nvidia (NVDA) gave up c2%, while Amazon (AMZN) decreased by 1%.

Wall Street has just three trading days remaining in a 2024 full of big gains, but markets have been unable to mount a “Santa Claus” rally into the end of the year.

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DAILY UPDATE: Medicare Tele-Health Out as DJIA Finishes Up a Tad

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

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Absent Congressional action, beginning January 1sy, 2025, the statutory limitations that were in place for Medicare telehealth services prior to the COVID-19 PHE will retake effect for most telehealth services.

This means most telehealth visits will not be covered by Medicare in 2025, unless Congress acts by the end of December 2024.

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(Reuters) -The Dow Jones Industrial Average closed fractionally higher on Thursday, stretching its winning streak to five sessions despite light trading volumes and rising U.S. Treasury yields weighing on some of the dominant technology megacaps.

While the NASDAQ Composite and the S&P 500 were broadly unchanged, the indexes both finished slightly in negative territory. This snapped the NASDAQ’s four-session run of higher closes, and ended the S&P 500’s own run at three sessions.

On a day of few catalysts, investors responded to yields on U.S. government bonds inching higher, including the yield on the benchmark 10-year Treasury note hitting its highest since early May at 4.64% earlier in the session. And, a strong auction of seven-year notes early in the afternoon though helped yields come off slightly, with the 10-year note at 4.58% in late-afternoon trade.

Higher yields are traditionally seen as negative for growth stocks, as it raises the cost of their borrowing to fund expansion. With markets increasingly dominated by the megacap technology stocks known as the Magnificent Seven, crimping their performance – especially in lieu of other market catalysts – will put downward pressure on benchmark indexes.

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The S&P 500 slipped 2.45 points, or 0.04%, to 6,037.59 points, while the NASDAQ Composite lost 10.77 points, or 0.05%, to 20,020.36. The Dow Jones Industrial Average rose 28.77 points, or 0.07%, to 43,325.80.

Six of the megacaps fell, with Tesla leading decliners with a 1.8% fall. The outlier was Apple, rising 0.3% and continuing to edge closer to becoming the first company in the world to hit a market value of $4 trillion.

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DAILY UPDATE: Ascension Healthcare Cyber Crime Attack as Stock Market “Christmas Rallies” On!

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

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MERRY CHRISTMAS and HAPPY HANUKKAH

The financial markets will close early on Tuesday, December 24th, for Christmas Eve and will be closed on Wednesday, December 25th, for Christmas Day. Brokerage firms will process transaction requests received after 1 p.m., Eastern time, on Tuesday, December 24th, as if received on Thursday, December 26th, before 4 p.m., Eastern Standard time

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Healthcare provider Ascension has revealed the sensitive data of 5.6 million patients was compromised in a massive cyberattack earlier this year. The ransomware attack occurred in May and threw the company into turmoil, with patient portals and files inaccessible, elective services postponed, and some ambulances diverted, according to a filing with the Maine Attorney General that was reported by TechRadar. Ascension did not name the hackers, but CNN reporting indicated it stemmed from a Russian-speaking cybercrime affiliate known as Black Basta. It’s not clear if Ascension paid a ransom to get their systems back online.

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US stocks rallied in the final, shortened trading session before the Christmas holiday. The benchmark S&P 500 (^GSPC) finished the session up over 1.1%, while the tech-heavy NASDAQ Composite (^IXIC) rose roughly 1.4%. The Dow Jones Industrial Average (^DJI) climbed around 0.9%.

Wall Street successfully entered its Christmas break rejuvenated, after tech stocks including AI chip giant Nvidia (NVDA) led the march higher. Markets closed at 1 p.m. ET and are off tomorrow for Christmas Day.

Sizable gains in the past three trading sessions have put the indexes back on the path toward their record highs, from which they took a Fed-fueled nosedive last week.

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DAILY UPDATE: FDIC Misconduct as Stocks Climb

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

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The stock market will be open on Christmas Eve 2024 but will close early at 1 p.m. ET in anticipation of Christmas Day. This early closure allows market participants to wind down ahead of the holiday.

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The Federal Deposit Insurance Corporation has suspended pay bonuses for roughly two dozen executives under investigation for misconduct, a year after a Wall Street Journal investigation revealed a toxic and sexualized workplace culture at the bank regulator.

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Stocks climbed on Monday as tech rallied and investors considered the path of interest rates next year after the Fed hinted they would stay higher for longer.

The S&P 500 (^GSPC) gained 0.7%, while the tech-heavy NASDAQ (^IXIC) rose almost 1%. The Dow Jones Industrial Average (^DJI) erased earlier losses to edge almost 0.2% higher.

Semiconductor stocks gained, as shares of chipmakers Nvidia (NVDA) and Broadcom (AVGO) rose more than 3% and 5%, respectively. And, robust gains from social media platform Meta (META) and EV giant Tesla (TSLA) also helped lead the broader market higher.

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DAILY UPDATE: Winter Solstice & Endo Health Solutions as Stock Markets Rebound

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

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The winter solstice, also called the hibernal solstice, occurs when either of Earth’s poles reaches its maximum tilt away from the Sun. This happens twice yearly, once in each hemisphere (North and South). For that hemisphere, the winter solstice is the day with the shortest period of daylight and longest night of the year, and when the Sun is at its lowest daily maximum elevation in the sky. Each polar region experiences continuous darkness or twilight around its winter solstice.

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Stat: $200 million. That’s how much drug manufacturer Endo Health Solutions paid the federal government for profiting from the opioid crisis and racking up $4 billion in unpaid taxes. (ProPublica)

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US stocks bounced back Friday as investors digested key inflation data that showed a deceleration in price increases during the month of November.

The tech-heavy NASDAQ Composite (^IXIC) gained 1%. The Dow Jones Industrial Average (^DJI) added 1.2%, while the S&P 500 (^GSPC) rose 1.1%.

But the rebound wasn’t enough to overcome losses earlier in the week. All three major gauges finished the week lower. The NASDAQ gave up 1.8% while the Dow and the S&P both shed around 2%.

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DAILY UPDATE: Healthcare Satisfaction Poll as Stock Markets Close Flat

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

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Americans aren’t satisfied with healthcare.

Gallup’s annual Health and Healthcare poll released on December 6th found that the US adult rating of healthcare quality is the lowest it’s been since 2001, with 54% of respondents saying they believe the healthcare system has “major problems” and 16% saying it’s in a “state of crisis.” In 2001, 53% viewed healthcare positively.

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US stocks closed little changed as a rebound from the previous day’s sell-off flopped with a hawkish outlook from the Federal Reserve on its path for interest rates looming over markets.

The Dow Jones Industrial Average (^DJI) ended a 10-day losing streak, its longest in 50 years, as it closed just above the flat line on Thursday. Meanwhile, the S&P 500 (^GSPC) and tech-heavy NASDAQ Composite (^IXIC) both fell about 0.1%.

The 10-year Treasury yield (^TNX) continued its trek higher on Thursday, rising roughly seven basis points to hit 4.57% for its highest levels since May.

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DAILY UPDATE: Undo Medical Debt, Native American Medical Debt as Stock Markets Plummet and Plunge

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

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Stat: 23,000. That’s about how many Connecticut residents will get at least part of their medical debt eliminated, thanks to a state partnership with nonprofit organization Undue Medical Debt. (NBC Connecticut)

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The stock market plunged on Wednesday after the Federal Reserve scaled back its expectations for interest rate cuts next year.

The Dow Jones Industrial Average fell about 1,100 points, or 2.5%, the largest drop for the index since August. The dip marked the 10th consecutive day of losses for the Dow, its longest losing streak since 1974.

The S&P 500 fell nearly 3%, while the tech-heavy NASDAQ plummeted about 3.5%.

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Native American patients are reportedly often billed for healthcare services the government is supposed to pay for, according to an investigation. (KFF Health News)

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DAILY UPDATE: Anthem BCBS Controversy as Stock Markets End Flat

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

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Stocks ended the session little changed on Friday despite Broadcom’s (AVGO) jump to all-time highs driven by the chipmaker’s bullish AI-fueled sales forecast.

The S&P 500 (^GSPC) closed flat while the tech-heavy NASDAQ Composite (^IXIC) gained 0.1%. The Dow Jones Industrial Average (^DJI) slipped 0.1%

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The fight between payers and anesthesiologists isn’t over, despite Anthem Blue Cross Blue Shield (BCBS) reversing plans for a policy that would put time limits on commercial claims for anesthesia coverage. The policy would have set a time limit for claims by procedure, with the exception of maternity and pediatric care, in New York, Connecticut, and Missouri starting next year. It called for providers “requiring more time than set or recommended by these standards” to undergo the insurance company’s claim dispute process in order to get paid, according to a statement Anthem provided to FOX61 in November.

The plan received backlash from everyone, from anesthesiologists to New York Governor Kathy Hochul.

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DAILY UPDATE: Stock Markets Slide

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

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FRIDAY 13th = Triskaidekaphobia

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The Dow Jones Industrial Average (^DJI) was down and the S&P 500 (^GSPC) were both about 0.5%. The tech-heavy NASDAQ Composite (^IXIC) fell roughly 0.6% while shares of Apple (AAPL) rallied less than 1% to close at a record high.

In bonds, the 10-year Treasury yield (^TNX) added 5 basis points to hit 4.32%, its highest closing level since November 22nd.

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On a day where President-elect Donald Trump rang the opening bell at the New York Stock Exchange, Wall Street failed to build on a furious rally that has picked up steam after his election win. In focus was fresh inflation data, which helped cast doubt on investor confidence for the path of interest rates ahead.

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DAILY UPDATE: Bitcoin and Big Technology Stocks Soar as DJIA Slips

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

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In crypto, bitcoin (BTC-USD) prices soared to trade above $101,300 a token in afternoon trade.

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Big Tech stocks led the market higher on Wednesday, as investors digested another month of sticky inflation data that met economists’ expectations and likely pointed to a Federal Reserve interest rate cut next week. The tech-heavy NASDAQ Composite (^IXIC) jumped about 1.7% amid a feverish rally in the “Magnificent Seven” tech stocks. Google parent Alphabet’s (GOOG, GOOGL) shares extended gains to hit a record high, rising more than 5%.

Meanwhile Tesla (TSLA), Meta (META) and Amazon (AMZN) all also surged to record highs, with Tesla notching its first record close in more than three years. The S&P 500 (^GSPC) rose around 0.8%, while the Dow Jones Industrial Average (^DJI) slipped about 0.2%.

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DAILY UPDATE: Walgreens to PE as CPI Upticks and Markets Blast Off this Morning

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

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According to reporting from the Wall Street Journal, the pharmacy chain Walgreen’s is discussing selling to private equity (PE) firm Sycamore Partners, a deal that could close early next year. This comes following a tumultuous year for the company, which announced it would close 1,200 stores in October and laid off more than 250 employees in November. The PE firm is allegedly considering selling off pieces of the business or working with partners, sources told the Journal. Following the news, Walgreens’s stock jumped 28%, its biggest single-day increase since 1980, according to Yahoo Finance.

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Inflation rose 2.7% on an annual basis in November, according to the latest government report on the Consumer Price Index, or CPI. Last month’s CPI was forecast to come in at 2.7%, according to economists surveyed by financial data firm FactSet. The Consumer Price Index, a basket of goods and services typically bought by consumers, tracks the change in those prices over time. 

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US stocks opened higher on Wednesday as investors digested another month of sticky inflation data that met economists’ expectations and likely pointed to a Federal Reserve interest rate cut next week. The Dow Jones Industrial Average (^DJI) increased about 0.2%, while the S&P 500 (^GSPC) jumped nearly 0.5%. The tech-heavy NASDAQ Composite (^IXIC) also added to across-the-board gains, rising roughly 0.8%.

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DAILY UPDATE: Anthem Health Insurance Cost Cutting as Markets Pause

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

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Health insurance companies are under scrutiny for proposed changes to anesthesia billing policies, raising concerns about patient safety and fair compensation for medical professionals. Anthem, a major health insurer, recently announced a controversial policy limiting payments for anesthesia services in Connecticut, Missouri, and New York. The policy would only cover part of the documented anesthesia time during a patient’s surgery, a decision strongly opposed by the American Society of Anesthesiologists (ASA).

Breaking News: Anthem health insurance company is backing off of a controversial plan to limit coverage of anesthesia in at least one state, according to Connecticut’s comptroller.

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WEEKLY UPDATE: SCHEDULE

December 6: November nonfarm payrolls, University of Michigan preliminary December Consumer Sentiment.

December 9: October final wholesale inventories, November consumer inflation expectations, and expected earnings from Toll Brothers (TOL) and MongoDB (MDB).

December 10: Third quarter productivity and unit labor costs and expected earnings from AutoZone (AZO).

December 11: November Consumer Price Index and expected earnings from Adobe (ADBE).

December 12: November Producer Price Index and expected earnings from Broadcom (AVGO), Ciena (CIEN), and Costco (COST).

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Here’s where the major benchmarks ended:

  •  The SPX fell 11.38 points (–0.19%) to 6,075.11; the Dow Jones Industrial Average® ($DJI) lost 248.33 points (–0.55%) to 44,765.71; and the NASDAQ Composite® ($COMP) declined 34.85 points (–0.18%) to 19,700.26.
  • The 10-year Treasury note yield was unchanged at 4.18%. 
  • The CBOE Volatility Index® (VIX)inched up to 13.46.

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DAILY UPDATE: Retail Pharmacies Down as the Stock Market Rally Stall Out

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

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Rite Aid filed for bankruptcy last October, and CVS and Walgreens reported steep losses over 2024.

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STOCKS UP

  • AT&T climbed 4.58% thanks to a few big announcements during its investor day, including returning over $40 billion to shareholders via dividends and stock buybacks over the next three years.
  • Palantir popped 6.88% after the US government gave the cybersecurity darling the green light to let its cloud offerings handle classified data. It also helped that Barrons expects the company will be added to the Nasdaq 100 in 2025.
  • Speaking of Palantir, BigBear.ai soared 28.64% after the server company was touted as the next Palantir by the Economic Times.
  • Data center company Credo Technology Group skyrocketed 47.89% thanks to an impressive earnings report and a glowing fiscal forecast.

STOCKS DOWN

  • US Steel dropped 8.01% on President-elect Trump’s declaration that he will block the company’s acquisition by Nippon Steel.
  • Tesla sank 1.59% after a Delaware judge once again blocked Elon Musk’s $56 billion pay package. The case will go back to court yet again, and may eventually reach the Supreme Court.
  • Intel tumbled another 6.10% two days after CEO Pat Gelsinger was fired happily decided to retire.
  • The children aren’t alright: Children’s Place crashed 24.15% after the children’s clothing retailer announced its turnaround isn’t going so well.
  • South Korean stocks took a beating after the country’s president declared martial law. The country’s largest online retailer, Coupang, sank 3.74%, steel manufacturer Posco Holdings dropped 4.32%, and Samsung tumbled 3.71%.

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

Here’s where the major benchmarks ended:

  •  The S&P 500® index (SPX) rose 2.73 points (0.05%) to 6,049.88; the Dow Jones Industrial Average® ($DJI) fell 76.47 points (–0.17%) to 44,705.53; and the NASDAQ Composite® ($COMP) added 76.96 points (0.40%) to 19,480.91.
  • The 10-year Treasury note yield added three basis points to 4.22% after falling below 4.17% at one point.
  • The CBOE Volatility Index® (VIX)held steady at 13.39.

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DAILY UPDATE: Intel CEO Out, Stellantis CEO Down and Mega Caps Up!

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

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The CEO Intel has been forced out after failing to return the American microchip company to the cutting edge, despite promises of billions from Joe Biden’s administration. Pat Gelsinger, who joined the Silicon Valley icon 45 years ago, said he had retired with immediate effect, three years after returning to the company with a pledge to resurrect US leadership in microchip technology.

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STOCKS UP

  • Super Micro Computer has been declared innocent of financial wrongdoing by…Super Micro Computer. Shares popped 26.86% on news that the company’s internal investigation revealed nothing wrong with its finances.
  • Gap continues its hot streak, rising 6.45% today thanks to an upgrade from JPMorgan analysts who think the retailer could gain another 20% from here.
  • Dana isn’t just the name of your favorite dental hygiene technician—it’s also an auto parts manufacturer that received an upgrade from Barclays analysts today. Shares gained 13.30%.
  • XPeng announced record car deliveries last month. Shares of the Chinese automaker jumped 5.31%.

STOCKS DOWN

  • Archer Aviation is a company that makes flying taxis. If that doesn’t sound like a good investment, a lot of investors would agree: Short interest is mounting, pushing shares down 23.72% today. Competitor Joby Aviation dropped 9.39% as well.
  • Upstart Holdings sank 14.47% after the AI-powered lending company received a downgrade from JPMorgan analysts. LendingClub was downgraded as well, and fell 4.93%.
  • Not all Chinese automakers had a great Monday: Li Auto fell 3.72% after announcing car deliveries dropped 5.25% month over month.

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

Here’s where the major benchmarks ended:

  • The S&P 500® index (SPX) rose 14.77 points (0.24%) to 6,047.15; the Dow Jones Industrial Average® ($DJI) fell 128.65 points (–0.29%) to 44,782.00; and the NASDAQ Composite® ($COMP) added 185.78 points (0.97%) to 19,403.95.
  • The 10-year Treasury note yield added two basis points to 4.20%. 
  • The CBOE Volatility Index® (VIX)eased to 13.44.

CITE: https://tinyurl.com/tj8smmes

Chrysler-parent Stellantis said CEO Carlos Tavares is stepping down, effective immediately, after the automaker’s sales and profit sharply declined this year. Shares dropped about 7% in Monday trading. Stellantis’s shares have fallen more than 40% this year. The company said Sunday that it wasn’t changing the financial guidance that it gave in October.

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DAILY UPDATE: Intel Suspends Dividend as Major Stock Index Climbs

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

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Computer company Intel didn’t just lower its dividend; it suspended it entirely earlier this year. The company’s CEO Pat Gelsinger said that the move was necessary due to liquidity needs and for the business to be able to “support the investments needed to execute our strategy.” Intel has been investing heavily in its foundry business, which has been a challenge. In the company’s most recent quarter, which ended on September 28th, the foundry business incurred an operating loss of $5.8 billion — more than four times the $1.4 billion loss it reported a year earlier.

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

Here’s where the major benchmarks ended:

  • The SPX gained 33.64 points (0.6%) to 6,032.38; the $DJI rose 188.59 points (0.4%) to 44,910.65; and the NASDAQ Composite® ($COMP) advanced 157.69 points (0.8%) to 19,218.17.
  • The 10-year Treasury note yield fell five basis points to 4.19%.
  • The CBOE Volatility Index® (VIX) gave back 0.59 points to 13.51.

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DAILY UPDATE: Intel, Tether as Technology Markets Lead Downturn

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

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Intel and the US government finalized a $7.9 billion grant from the CHIPS and Science Act that will help fund factory construction.

The cryptocurrency Tether is being used by organizations linked to Mexican drug cartels to launder tens of millions of dollars, 404 Media reported.

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STOCKS UP

  • Unusual Machines got an unusually strong boost today, soaring 84.51% after Donald Trump Jr. announced he’s joining the drone maker’s advisory board.
  • Ambarella continued to climb another 5.89% today after the semiconductor company announced a strong beat-and-raise quarter.
  • Urban Outfitters isn’t just where you go to buy overpriced beanies—it’s also where you go for strong holiday revenue expectations. Shares rose 18.31% after the retailer’s best third quarter ever.
  • SolarEdge Technologies will close its energy storage division and lay off hundreds of employees to cut costs. Shares popped 8.55% on the announcement.
  • Iris Energy jumped 29.71% after the bitcoin miner announced it’s growing so quickly that it may be able to distribute funds to shareholders sooner than previously thought.

STOCKS DOWN

  • Symbotic plummeted 35.86% after the robotics company announced it won’t meet its financial filing deadline thanks to some accounting errors.
  • Dell may have impressed with its AI offerings, but earnings came up short last quarter. That, plus management’s “meh” forecast for the coming quarter, sent shares tumbling 12.25%.
  • HP sank 11.36% after it, too, projected worse-than-expected profits next quarter.
  • Keeping the trend alive, cybersecurity company CrowdStrike also anticipates lower earnings next quarter—a sign that it still hasn’t fully recovered from this summer’s massive IT outage. Shares dropped 4.59%.
  • Nordstrom actually beat earnings expectations and announced a solid sales forecast—but apparently, it wasn’t good enough. The retailer still lost 8.09% today.

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

Here’s where the major benchmarks ended:

  •  The SPX fell 22.89 points (–0.38%) to 5,998.74; the Dow Jones Industrial Average® ($DJI) lost 138.25 points (–0.31%) to 44,722.06; and the NASDAQ Composite® ($COMP) dropped 115.10 points (–0.60%) to 19,060.48.
  • The 10-year Treasury note yield dropped six basis points to 4.24%, a one-month low close. 
  • The CBOE Volatility Index® (VIX)was close to flat at 14.14.

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DAILY UPDATE: Semaglutide Drugs, CMS, Emory & UnitedHealthcare as Stock Markets Rise High

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

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In breaking news, the Biden administration is attempting to cover anti-obesity drugs for weight loss under Medicare and Medicaid. A recent study finds 137 million people are eligible for semaglutide drugs nationwide.

Another insurer can claim victory against CMS after UnitedHealthcare prevailed in its star ratings lawsuit on Friday. The feds will now have to recalculate the scores.

And ... Emory Healthcare is looking to expand value-based care for more than 350,000 patients through a population health partnership with tech company Guidehealth.

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STOCKS UP

Uncrustables taste almost as good as today’s gains: J.M. Smucker rose 5.70% thanks to a beat-and-raise quarter for the company.

  • Walmart gained 2.02% on a report that Target is losing its high-end customers to the low-price retailer. Target sank 3.03%.
  • Semiconductor stock Semtech rose another 18.10% after announcing stronger-than-expected earnings last night.

STOCKS DOWN

  • Amgen’s new drug did help patients lose up to 20% of their weight in a given year, but that wasn’t enough to impress shareholders, who kicked shares down 4.76%.
  • Kohl’s plummeted 17.01% after the retailer met revenue expectations but missed on earnings last quarter. It definitely doesn’t help that the CEO announced his retirement last night.
  • Abercrombie & Fitch’s turnaround is well underway, and the company beat earnings forecasts last quarter and projected strong holiday sales. But it still fell short of shareholder expectations, and the stock sank 5.10% today.
  • Best Buy rounded out retailer earnings today, dropping 4.89% after missing revenue expectations last quarter and cutting its full-year guidance.
  • Zoom Communications changed its name, but that wasn’t enough to save the company from a 6.31% decline today thanks to its tepid fiscal outlook.

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

Here’s where the major benchmarks ended:

  •  The S&P 500® index (SPX)rose 34.26 points (0.57%) to 6,021.63; the Dow Jones Industrial Average® ($DJI) added 123.74 points (0.28%) to 44,860.31; and the NASDAQ Composite® ($COMP) gained 119.46 points (0.63%) to 19,174.30.
  • The 10-year Treasury note yield climbed four basis points to 4.3% after Trump’s tariff comments, but shorter-term yields fell after the Fed minutes, keeping the yield curve slightly out of inversion.
  • The CBOE Volatility Index® (VIX)dropped to 14.19, near a two-week low.

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DAILY UPDATE: Health Insurance Affordability as Stock Markets Broadly Rise

Posted on November 26, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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The Commonwealth Fund’s 2024 biennial health insurance survey, released November 21, found that though 79% of US adults had continuous health insurance for 12 months, 23% were under insured, meaning they have health insurance and still can’t afford care. About 56% of those surveyed had adequate insurance coverage all year.

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STOCKS UP

  • Rocket Lab rocketed (sorry) 3.44% to a new record high after launching not one, but two different rockets in two different hemispheres in a single day.
  • Bath & Body Works soared 16.51% on a strong beat-and-raise quarter.
  • Robinhood jumped 3.27% after Morgan Stanley analysts doubled their price target for the investing app.
  • Super Micro Computer surged yet another 15.87%, more than doubling in the last seven days, and shareholders cheered its comeback.
  • Hims & Hers Health climbed 23.77% on the news that the new head of the FDA may be an ally.
  • Flying taxi company Vertical Aerospace popped 45.51% after announcing an additional $50 million in funding from one of its biggest shareholders.

STOCKS DOWN

  • Defense contractor stocks got a double whammy today: Hopes of a ceasefire between Israel and Hezbollah, combined with Elon Musk’s declaration on X that buying manned military aircraft is wasteful. Lockheed Martin fell 3.76%, Northrop Grumman dropped 2.39%, and Raytheon Technologies parent company RTX Corp. fell 1.74%.
  • Speaking of Musk, Tesla sank 3.96% after California announced it may exclude the automaker from incentives that encourage drivers to buy EVs in the state.
  • Pipeline operator Oneok lost 4.72% on the news that it will acquire the remaining portion of EnLink Midstream that it doesn’t already own.
  • After rallying last week thanks to its inclusion in the S&P 500, Texas Pacific Land sank 6.71% today as investors took profits.

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

Here’s where the major benchmarks ended:

  •  The SPX rose 18.03 points (0.30%) to 5,987.37; the $DJI added 440.06 points (0.99%) to 44,736.57; and the NASDAQ Composite® ($COMP) gained 51.18 points (0.27%) to 19,054.84.
  • The 10-year Treasury note yield fell 15 basis points to 4.27%.
  • The CBOE Volatility Index® (VIX)dropped to 14.74, the lowest since November 14.

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DAILY UPDATE: Morningstar, Amazon Anthropic and Private Equity Banks

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

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Amazon invests $4 billion more in Anthropic. The deal marks the second time in a year that Amazon has earmarked $4 billion for Anthropic as it seeks to keep pace with its main rival, OpenAI, which raised $6.6 billion in October.

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Morningstar Inc. has announced a change to the methodology for its Morningstar Medalist Rating system that it says provides a more precise assessment of investment alpha. The change, which will take effect on October 29th, will alter the medalist ratings of about 20% of the 200,000 funds Morningstar has rated, with most of those changes downgrades. For example, Morningstar expects around 40% of funds currently assigned Bronze ratings globally will be assigned Neutral ratings after the change.

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DAILY UPDATE: Google and Ford Motor as Stock Markets Rise and Broaden

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

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The DOJ asked a judge to force Google to sell its Chrome browser, following his ruling that Google maintained an illegal monopoly in search.
Ford said it is cutting 4,000 jobs in Europe, about 14% of its workforce on the continent, citing weak demand for EVs and competition from Chinese cars.

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STOCKS UP

  • Data analytics firm Snowflake soared 32.71% after posting impressive earnings, including a 28% increase in revenue last quarter.
  • BJ’s Wholesale Club has had an okay year, but its latest earnings report gave shareholders plenty to cheer. The big news: BJ’s is increasing its membership fee for the first time in seven years. Shares rose 8.24%.
  • Despite the fact that the world’s largest farming equipment manufacturer sees a big slowdown ahead, Deere beat earnings estimates last quarter, which was enough to help shares climb 8.12%.

STOCKS DOWN

It took a second, but it’s finally registering that Alphabet may be forced by the Department of Justice to divest its popular Chrome browser. Shares fell 4.74% as investors digest this stark reality.

  • Speaking of search engines, Baidu sank 5.90% after the Chinese tech stock missed analyst estimates on both earnings and revenue last quarter.
  • Speaking of Chinese companies, PDD Holdings, parent company of online retailer Temu, reported higher earnings and revenue last quarter—but it still fell short of analyst forecasts. Shares dropped 10.64%.
  • Speaking of struggling retailers, Beyond Inc., the company that owns Bed, Bath & Beyond and Overstock.com, was supposed to invest $40 million into struggling retailer The Container Store. Unfortunately for both, the deal fell through. Shares of Beyond sank 2.87%, while The Container Store dropped 9.79%.

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Here’s where the major benchmarks ended:

  • The SPX buoyed 31.60 points (0.53%) to 5,948.71; the Dow Jones Industrial Average® ($DJI) rose 461.88 points (1.06%) to 43,870.35; and the NASDAQ Composite® ($COMP) stayed relatively flat, up 6.28 points (0.03%) to 18,972.42.
  • The 10-year Treasury note yield added two basis points to 4.42%, staying rangebound.
  • The CBOE Volatility Index® (VIX) slipped to 16.87, still above last week’s levels.

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DAILY UPDATE: GoodRx as Stocks End Flat

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

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It’s not all good news for GoodRx.

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STOCKS UP

Williams-Sonoma soared 27.50% to a record high after the home goods store beat top and bottom line earnings expectations. Its operating profit margin jumped to 17.8% from 17% last year, and the company said its board greenlit a $1 billion stock buyback plan.

  • Wix jumped 14.31% on a solid beat for its third quarter. Profit for the software firm reached $0.46 per share, compared to the $0.12 per share it reported last year.
  • Lemonade rose 16.04% after Morgan Stanley upgraded the insurance company from “underweight” to “equal-weight.” At its investor day, Lemonade unveiled a plan to juice its premiums from $1 billion to $10 billion over the next several years.

STOCKS DOWN

  • Ford said it was cutting 4,000 jobs in Europe, about 14% of its workforce on the continent, citing weak demand for EVs and competition from Chinese cars. Shares fell 2.90%.
  • Qualcomm dropped 6.34% after its first Investor Day in three years disappointed. On Tuesday, the chipmaker revealed its big plans to expand from its bread-and-butter smartphone business into making chips for cars and PCs.
  • Elf sank 2.23% after short seller Carson Block, the founder of Muddy Waters Research, accused the beauty company of inflating revenue.

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Here’s where the major benchmarks ended:

  •  The S&P 500® index (SPX) stayed mostly flat, up 0.13 points (0.0%) to 5,917.11; the Dow Jones Industrial Average® ($DJI) rose 139.53 points (0.32%) to 43,408.47; and the NASDAQ Composite® ($COMP) fell 21.32 points (0.11%) to 18,966.14. 
  • The 10-year Treasury note yield added four basis points to 4.41%.
  • The CBOE Volatility Index® (VIX) climbed to 17.26, near recent highs.

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DAILY UPDATE: Dermatology and Oura Rings as NASDAQ Rises

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

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How dermatology became the hottest field in medicine.

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STOCKS UP

  • Talk about cutting it close: Super Micro Computer filed a much-delayed financial plan at the 11th hour, avoiding a delisting from the Nasdaq. Shares soared 31.24%.
  • AI-enabled robotics company Symbotic surged 27.68% after announcing an impressive beat-and-raise quarter.
  • MicroStrategy climbed another 11.89% after yesterday’s huge surge. The crypto company announced it will continue to purchase more bitcoin in the weeks ahead.

STOCKS DOWN

  • More Trump Trade 2.0 developments: The newly formed Department of Government Efficiency is considering creating an app that allows Americans to file their taxes on a phone for free. Intuit sank 5.10%, and H&R Block dropped 8.31% on the news.
  • Speaking of Trump, platform Bakkt popped then dropped 0.67% following yesterday’s news that Trump Media & Technology Group may acquire the company. Trump Media shares fell 8.88%.
  • Kraft Heinz fell 1.58% on a Piper Sandler downgrade due to the company’s slow retail sales and the threat of new government regulations from the Health Department.
  • Lowe’s may have beaten top and bottom line expectations last quarter, but the home improvement retailer’s forecast of slower sales next year sent the stock falling 4.62%.
  • Incyte tumbled 8.33% after the pharma company announced it was pausing the Phase 2 trial of its new spontaneous hives treatment.

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Here’s where the major benchmarks ended:

  •  The S&P 500® index (SPX) was up 23.36 points (0.4%) to 5916.98; the Dow Jones Industrial Average® ($DJI) dipped 120.66 points (0.28%) to 43,268.94; and the NASDAQ Composite® ($COMP) rose 195.66 points (1.04%) to 18,987.49.
  • The 10-year Treasury note yield fell four basis points to 4.38%.
  • The CBOE Volatility Index® (VIX) eased to 16.04 after an earlier pop above 17.

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Oura rings will soon be integrated with glucose biosensors after a $75 million series D funding round with medical device maker Dexcom.

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DAILY UPDATE: All About the Stock Markets

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

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  • Stocks ended the day mixed, with the Dow sinking into the red while the S&P 500 and NASDAQ kicked off the week on a positive note thanks to gains from tech stocks.
  • Oil popped on a double-whammy of news: Long-range, US-made ballistic missiles launched from Ukraine into Russia might disrupt oil supply, while the shutdown of Norway’s Johan Sverdrup oil field due to a power outage will definitely disrupt oil supply.
  • Crypto continued its hot streak today: Bitcoin popped back above $90,000, giving other cryptocurrencies a boost.
  • Bitcoin’s boom has certainly helped MicroStrategy, which announced today that it purchased 51,780 bitcoins for approximately $4.6 billion in cash, or roughly $88,627 per bitcoin, in the last week alone.

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STOCKS UP

The new Trump Trade continues: The president-elect’s selection of Liberty Energy CEO Chris Wright to lead the Department of Energy gave Liberty a 4.85% boost today. Wright is also on the board of nuclear company Oklo, which popped 14.83%.

  • Speaking of Trump, Trump Media & Technology Group soared 16.65% on the news that it may purchase crypto trading firm Bakkt.
  • Netflix disappointed viewers with its glitchy showing of Jake Paul vs. Mike Tyson, but shareholders forgave the company after it announced record viewership of the fight. Shares climbed 2.80%.
  • CVS Health gained 5.41% on news that it struck a deal with activist investor Glenview Capital Management to add four new seats to its board.
  • Robinhood jumped 8.29% to a new all-time high thanks to an upgrade from Needham analysts giving the investing app a “buy” rating due to its crypto offerings under a pro-crypto Trump presidency.
  • Warner Bros. Discovery rose 2.71% on a Wall Street Journal report that it has settled its legal dispute with the NBA, guaranteeing broadcast rights for the next decade.

STOCKS DOWN

  • Nvidia isn’t often in this section of the newsletter, but the semiconductor leader sank 1.29% today on a report from The Information that its new Blackwell chips are prone to overheating.
  • Palantir popped after moving over to the Nasdaq last week, but the red-hot software stock dropped 6.86% as investors collected profits.
  • Redfin may help you buy a house, but the online real estate brokerage is a “sell,” according to Goldman Sachs. The Wall Street firm cited low home sales, low affordability, and low chances of success in a competitive market. Shares fell 4.42%.
  • Uber dropped 5.35% to a new 52-week low on the threat of Tesla’s robotaxis ruling the road thanks to a Trump administration that seems keen on cutting self-driving regulations.

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Here’s where the major benchmarks ended:

  •  The SPX was up 23.00 points (0.4%) to 5893.62; the Dow Jones Industrial Average® ($DJI) fell 55.39 points (0.1%) to 43,389.6; and the NASDAQ Composite® ($COMP) was up 111.69 points (0.6%) to 18,791.81.
  • The 10-year Treasury note yield fell one basis point to 4.41%.
  • The CBOE Volatility Index® (VIX) eased to 15.57.

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DAILY UPDATE: Spirit Airlines in Chapter 11 as Nvidia Rises and Target, Lowes & Walmart Highlight Stock Earnings Week

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

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Spirit Airlines said Monday it has filed for Chapter 11 bankruptcy protection after struggling with losses, growing debt and a failed merger during the post-pandemic travel lull. The company said in a stock market statement that it had secured a prearranged deal with bondholders that includes £300 million in financing to keep it afloat, with the business planning to end its bankruptcy in the first quarter of 2025.

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Analysts are expecting Nvidia, the world’s largest publicly traded company, to show quarterly sales of ~$33 billion, up 10% from the previous quarter and 83% year over year, but they also warn the mind-blowing growth of the chip maker could begin to slow.

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And, reports this week from Walmart, Target, Lowe’s, and other retailers will offer a peek at consumer health.

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DAILY UPDATE: 401[k] and Wamco as Stock Markets Crash!

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

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The Internal Revenue Service (IRS) ruled that employees at an unnamed company can designate a portion of their employer match to student debt repayments or health reimbursement accounts, in addition to their traditional 401(k).

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STOCKS UP

  • Warren Buffett’s Midas touch gave a boost to Domino’s Pizza and Pool Corp. after Berkshire Hathaway announced it has bought shares of both companies. Domino’s popped to start the day but dropped 1.27%, while Pool climbed just 0.54%.
  • Palantir is jumping ship, moving from the NYSE to the Nasdaq. Shareholders liked the move, pushing the stock up 11.14%.
  • Bloom Energy…bloomed 59.19% on the news that the renewable energy company reached an agreement to provide utility company American Electric Power with 1 gigawatt worth of fuel cells.

STOCKS DOWN

  • What Buffett giveth, Buffett taketh away: Apple sank on the news that Berkshire Hathaway has sold shares of the company, and almost completely eliminated its position in Ulta Beauty. Apple fell 1.41%, while Ulta Beauty dropped 4.60%.
  • Shareholders were expecting the worst from Chinese online retailer Alibaba, and although the company actually beat earnings forecasts, it wasn’t enough—shares still sank 2.20%.
  • Applied Materials tumbled 9.20% after beating both top and bottom line expectations, but shareholders balked at the slowdown in several key businesses.
  • AST SpaceMobile plummeted 9.59% after reporting bigger losses and smaller sales than Wall Street wanted to see.

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Here’s where the major stock market benchmarks ended:

  • The SPX fell 78.55 points (–1.32%) to 5,870.62 to end the week down 2.08%; the Dow Jones Industrial Average® ($DJI) lost 305.87 points (–0.70%) to 43,444.99 to end the week down 1.24%; and the NASDAQ Composite® ($COMP) decreased 427.52 points (–2.24%) to 18,680.12 to end the week down 3.15%.
  • The 10-year Treasury note yield rose one basis point to 4.43% but added 12 basis points for the week. Shorter-term yields rose less.
  • The CBOE Volatility Index® (VIX) climbed sharply to 16.11 as stocks fell.

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The problems at storied bond manager Western Asset Management keep growing. Clients have pulled about $55 billion from Wamco, as the division is known, since mid-August, representing about 15% of its assets. Franklin Templeton, its 77-year-old parent company and one of the largest asset managers in the U.S., recently reported its steepest quarterly outflows on record.

Visualize: How private equity tangled banks in a web of debt, from the Financial Times.

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DAILY UPDATE: Healthcare Private Equity Prominent as Stocks Go Down

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

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Private equity (PE) dollars have become prominent in the US healthcare industry in recent decades, with PE firms now owning roughly 8% of all private hospitals in the country, according to nonprofit Private Equity Stakeholder Project. But studies have illustrated the financial model’s potential adverse effects, such one published in JAMA in December 2023 that found PE-owned hospitals are 25.4% more likely to report patient complications. Others have found that PE-owned healthcare companies represented more than one-fifth of healthcare company bankruptcies in 2023 and that PE-owned hospitals see their assets drop an average of 24% following an acquisition.

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STOCKS UP

Tapestry, parent company of luxury brands like Coach and Kate Spade, and Capri, parent company of luxury brands like Versace and Jimmy Choo, have announced they will mutually terminate their planned merger. Tapestry popped 12.80%, while Capri rose 4.43%.

  • Speaking of luxury brands, Burberry soared 18.04% after its CEO announced a turnaround plan designed to halt the company’s recent decline.
  • Semiconductor maker ASML plummeted last month on a profit warning, but rose 2.90% today on reassurances that it’s still on track to meet its 2030 revenue forecasts.

STOCKS DOWN

  • Super Micro Computer fell yet another 11.41% as it nears the November 16 deadline to report fiscal year earnings or be delisted from the Nasdaq.
  • Trump Media & Technology Group dropped 6.71% as investors digested news that company insiders are shedding shares, as well as in reaction to a number of President-elect Trump’s cabinet appointments.
  • Hims & Hers Health tumbled 24.46% on the news that Amazon is getting into the telehealth game, offering Prime members fixed prices on treatments for hair loss and erectile dysfunction.
  • Ibotta is a cashback rewards company, but its shareholders may want their cash back. The company beat on top and bottom line estimates last quarter, but the win wasn’t good enough, and shares sank 12.55%.

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Here’s where the major benchmarks ended:

  • The S&P 500® index (SPX) fell 36.21 points (–0.60%) to 5,949.17; the Dow Jones Industrial Average® ($DJI) lost 207.33 points (–0.47%) to 43,750.86; and the NASDAQ Composite® ($COMP) dropped 123.07 points (–0.64%) to 19,107.65. 
  • The 10-year Treasury note yield fell three basis points to 4.42%.
  • The CBOE Volatility Index® (VIX) edged up to 14.17.

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DAILY UPDATE: United Health, Cigna and Inflation as Stock Markets Flatten

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

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UnitedHealth Group posted nearly $6.1 billion in profit last quarter, edging out Elevance Health with $5.6 billion. Paige Minemyer has more takeaways from third quarter earnings results.

Cigna told investors the company is no longer pursuing a merger with Humana, opting to avoid tricky questions from federal regulators.

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STOCKS UP

  • EV startup Rivian popped 13.71% after announcing a new $5.8 billion joint venture with Volkswagen to collaborate on a new line of vehicles that will begin rolling off the assembly line in 2027.
  • Rocket Lab…rocketed 28.44% to a new all-time high after increasing revenue 55% last quarter and announcing the first launch deal for its new Neutron rocket.
  • Charter Communications will purchase Liberty Broadband in an all-stock deal. Charter shares rose 3.63% on the news, while Liberty shares sank 5.05%.
  • Cava reported strong earnings today, including impressive same-store sales growth of 18%. Shares soared on the open, though ended the day up just 1.57%.
  • Flutter Entertainment, parent company of sports betting app FanDuel, rose 6.89% to hit an all-time high thanks to incredibly strong betting on the NFL last quarter.

STOCKS DOWN

  • The problems continue at Super Micro Computer, which announced it will need EVEN MORE time to submit its quarterly 10-Q form to the SEC. That’s on top of the delayed filing of its annual 10-K filing from back in June—and if it doesn’t file that by November 16, the stock will be delisted from the Nasdaq. Shares sank 6.31%.
  • Spirit Airlines really may go bankrupt this time. The beleaguered airline has lost hope of merging with Frontier Airlines, so shares plunged 59.32%.
  • Maplebear, which is the parent company of Instacart, delivered bad news for shareholders: Next quarter will be worse than expected. Shares fell 11.01%.
  • SoundHound AI reported record revenue last quarter, but shares plummeted 17.06% after the voice recognition stock also revealed much lower margins.

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

Here’s where the major benchmarks ended:

  • The S&P 500® index (SPX) rose 1.39 points (0.02%) to 5,985.38; the Dow Jones Industrial Average® ($DJI) added 47.21 points (0.11%) to 43,958.19; and the NASDAQ Composite® ($COMP) fell 50.66 points (–0.26%) to 19,230.74. 
  • The 10-year Treasury note yield added two basis points to 4.45%, just below last week’s four-month high.
  • The CBOE Volatility Index® (VIX) slid to 14.03, down sharply from above 20 early last week.

CITE: https://tinyurl.com/tj8smmes

The Labor Department on Wednesday reported that consumer prices in October rose 2.6% from a year earlier. That marks a pickup in the pace of inflation from September, when prices were up 2.4% on the year.

A digital token inspired by a Shiba Inu dog meme is now worth more than the company that pioneered the assembly line. Yesterday, dogecoin continued its post-election surge to become more valuable than 121-year-old Ford.

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DAILY UPDATE: Bitcoin Fog as Chegg the DJIA and NASDAQ Drop

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

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The operator of the longest-running money laundering machine in dark web history, Bitcoin Fog, has been sentenced to 12 years and six months in US prison. Roman Sterlingov, 36, a Russian-Swedish national, was also ordered to repay more than half a billion dollars accrued from the cryptocurrency mixing service that he ran for a decade between 2011 and 2021.

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Stocks Up

  • r Elliott Investment Management is at it again, this time with a $5 billion stake in industrial conglomerate Honeywell. Shares gained 3.87% on the news.
  • Shopify announced its ninth consecutive quarter of beating analyst revenue expectations, pushing shares up 21.04%.
  • Bad news is good news: 40% of the workforce at 23andMe is getting laid off to cut costs. Shareholders cheered, and shares climbed 2.17%.
  • Where’s the beef? Tyson Foods popped 6.55% after announcing strong earnings thanks to higher beef and chicken prices last quarter.
  • Sentinel One climbed 2.01% after Deutsche Bank analysts upgraded the cybersecurity stock from “hold” to “buy,” noting it should profit from CrowdStrike’s outage earlier this year.

Stocks Down

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Here’s where the major benchmarks ended:

  • The S&P 500® index (SPX) fell 17.36 points (–0.29%) to 5,983.99; the Dow Jones Industrial Average® ($DJI) lost 382.15 points (–0.86%) to 43,910.98; and the NASDAQ Composite® ($COMP) decreased 17.36 points (–0.09%) to 19,281.40.
  • The 10-year Treasury note yield added 12 basis points to 4.43%.
  • The CBOE Volatility Index® (VIX) fell to 14.81, unusual on a day when stocks lost ground.

CITE: https://tinyurl.com/tj8smmes

Chegg is on the verge of collapse. Its stock is down 99% since 2021, the Wall Street Journal reported, wiping out nearly $15 billion in market value.

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DAILY UPDATE: About the Markets

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

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The S&P 500 closed above 6,000 for the first time. Chips fell on China trade tension. The US dollar rose. Treasuries were closed.

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Here’s where the major benchmarks ended:

  •  The SPX rose 5.81 points (0.10%) to 6,001.35; the Dow Jones Industrial Average® ($DJI) added 304.14 points (0.69%) to 44,293.13, a new all-time closing high; and the NASDAQ Composite® ($COMP) gained 11.99 points (0.06%) to 19,298.76.
  • The 10-year Treasury note yield (TNX) didn’t trade today due to the Veterans Day holiday.
  • The CBOE Volatility Index® (VIX) inched up to 15.05. 

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DAILY UPDATE: Election Week Wrap-Up

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

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  • Stocks ended a record-breaking election week by breaking records: The Dow rose above 44,000 for the first time ever, the S&P 500 rose above 6,000 for the first time ever, and the NASDAQ hit its own all-time high.
  • Tesla in particular had an excellent week, rising to a market cap of $1 trillion on a post-election surge.
  • Treasury yields fell and ended the week lower than where they began as investors hedged their bets and bought bonds.

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

  • Oil rose a bit this week on fears that Hurricane Rafael would disrupt supply in the Gulf Coast, but new projections show the storm losing steam, which meant oil did as well.
  • One investment that didn’t go down this week: bitcoin. The crypto king soared to a new all-time high as traders bought into a friendlier regulatory environment under Donald Trump.

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DAILY UPDATE: SPX Ends Just Short of 6,000

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

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Stocks up

  • In another daily double-digit swing, Trump Media & Technology Group jumped 15.22% after President-elect Trump announced he has no plans to sell shares of his social media company.
  • Toast isn’t just for breakfast anymore—it’s also a restaurant software company that’s making money hand over fist. Shares popped 14.93% on strong earnings news.
  • Axon Enterprise climbed 28.68% to a new all-time high thanks to an impressive quarter for the law enforcement technology company.
  • Upstart started up and stayed there, soaring 46.02% after the AI lending marketplace beat-and-raised analyst estimates last quarter.
  • Unless you’re a medical professional, you’ve probably never heard of digital platform Doximity, but doctors love it. Shares surged 34.06% on a stronger-than-expected quarter.

Stocks down

  • Pinterest plummeted after the social media site announced slowing user growth combined with lower ad pricing, a one-two combo that sent shares tumbling 14%.
  • Airbnb may have beaten revenue expectations, but shareholders punished it for missing on earnings estimates last quarter. Shares fell 8.66%.
  • Sweetgreen sank 6.01% after the fast casual eatery fell short of analyst estimates last quarter and Goldman Sachs lowered its rating from “buy” to “neutral.”
  • Redfin plunged 15.62% after it announced lower earnings than analysts expected, cut its forecasts, and revealed it’s losing ground to competitors.

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

Here’s where the major benchmarks ended:

  • The SPX rose 22.44 points (0.38%) to 5,995.54 to end the week up 4.66%; the Dow Jones Industrial Average® ($DJI) added 259.65 points (0.59%) to 43,988.99 to end the week up 4.61%; and the NASDAQ Composite®($COMP) climbed 17.31 points (0.09%) to 19,286.78 to end the week up 5.74%.
  • The 10-year Treasury note yield (TNX) fell four basis points to 4.31%, but the 2-year yield added three basis points to 4.25%. Shorter-term yields, which are more closely connected to near-term rate policy, gained on longer-term ones this week.
  • The CBOE Volatility Index® (VIX) fell to 14.99, near a two-month low.

CITE: https://tinyurl.com/tj8smmes

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DAILY UPDATE: FOMC Cuts Interest Rates as Stock Markets Rise

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

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The Federal Reserve cut interest rates by 0.25 percentage points Thursday, the second consecutive cut after a two-year rate-hike run to curb post-pandemic inflation.

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

What’s up

  • Lyft announced impressive earnings results thanks to more commuters using the ride-hailing service, as well as upbeat guidance for the future. Shares rose 22.92%.
  • Shareholders worried about a housing market slowdown hurting Zillow had nothing to fear: The real estate website crushed earnings estimates, and shares popped 23.77%.
  • Warner Bros. Discovery enjoyed its biggest single-quarter surge in subscribers ever thanks to streaming service Max, which sent shares soaring 11.81%.
  • Under Armour rocketed 23.33% higher after its cost-savings plan paid off last quarter and management guided for a strong quarter ahead.
  • Planet Fitness surprised shareholders with a solid quarter for the gym giant, as well as forecasts of more growth ahead. Shares climbed 11.26%.
  • Prison operators GEO Group and CoreCivic both surged on Trump’s election, and their rally continued today—in-spite of very different paths forward for each stock. GEO Group gained 13.63%, while CoreCivic rose 25.60%.

What’s down

  • Trump Media & Technology Group was one of the biggest winners on election night, and although the stock soared over the last few days, investors decided to take profits today. Shares sank 22.97%.
  • Wolfspeed plummeted 39.24% after announcing larger-than-expected losses last quarter, poor forecasts for next quarter, and layoffs to cut costs.
  • Match Group shareholders were heartbroken to hear that Tinder’s revenue fell last quarter, though strong revenue growth from Hinge helped ease the pain. Shares dropped 17.87%.
  • Virgin Galactic isn’t just a mean nickname from your high school years—it’s also a space stock that can’t make money to save its life. Shares fell 11.87%.

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

Here’s where the major benchmarks ended:

  • The S&P 500® index (SPX) rose 44.06 points (0.74%) to 5,973.10; the Dow Jones Industrial Average® ($DJI) fell 0.59 points (0.00%) to 43,729.34; and the NASDAQ Composite® ($COMP) gained 285.99 points (1.51%) to 19,269.46.
  • The 10-year Treasury note yield (TNX) fell nine basis points to 4.34%, with most of the drop coming long before the Fed decision.
  • The CBOE Volatility Index® (VIX) continued its post-election plunge to 15.21.

CITE: https://tinyurl.com/tj8smmes

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DAILY UPDATE: Home Buyers and Jeff Bezos as Stock Markets Soar!

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

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First-time homebuyers in 2024 had a median income of $97,000, and their median age was 38. ​​OpenAI and Jeff Bezos invested in Physical Intelligence, a robot startup with the aim of “bringing general-purpose AI into the physical world.”

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

Stocks Up

  • Cybersecurity darling Palantir soared 23.38% to a record high thanks to strong earnings, high AI demand, and big spending from the Department of Defense.
  • Astera Labs skyrocketed 37.70% after the semiconductor parts maker (and one of Nvidia’s key suppliers) announced strong earnings.
  • Crypto stocks had a great day thanks to a widespread cryptocurrency rally. Coinbase rose 4.13%, MicroStrategy gained 2.16%, and Riot Platforms jumped 8.13%.

Stocks Down

Trump Media & Technology Group arrested its recent downturn and popped 12% at one point today, but gave all those gains up and ended the day down 1.16%.

  • You’d think the end of a multi-week labor dispute costing billions of dollars would be a relief for shareholders, but Boeing still sank 2.62% on news that it’s reached an agreement with striking machinists.
  • It’s a me, lower revenue forecasts! Nintendo fell 1.68% after announcing that sales of its Switch console are starting to sag.
  • Wynn Resorts sagged 9.34% thanks to misses on both top and bottom line expectations last quarter.
  • Some of the smaller semiconductor stocks on the market took a beating today. NXP Semiconductor dropped 5.17% after announcing weaker-than-expected Q4 guidance, Lattice Semiconductor tumbled 1.37% after missing on sales forecasts and announcing job cuts, and while Cirrus Logic beat expectations this quarter, it still fell 7.09% on lower forecasts.

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

Here’s where the major benchmarks ended:

  • The S&P 500® index (SPX) rose 70.07 points (1.23%) to 5,782.76; the Dow Jones Industrial Average® ($DJI) added 427.28 points (1.02%) to 42,221.88; and the NASDAQ Composite® ($COMP) increased 259.19 points (1.43%) to 18,439.17.
  • The 10-year Treasury note yield (TNX) dropped two basis points to 4.29%.
  • The CBOE Volatility Index® (VIX) slipped to 20.72.

CITE: https://tinyurl.com/tj8smmes

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DAILY UPDATE: CVS Splits as Stocks Down in Slow Session

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

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Among consideration for CVS is splitting up its assets: CVS Pharmacy, pharmacy benefit manager CVS Caremark, and insurance arm Aetna. The company has reportedly been in talks with bankers about the move, Reuters reported early this month.

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

STOCKS UP

  • Just as Nvidia will replace Intel, Sherwin Williams will replace Dow Inc. on the Dow (how embarrassing, getting kicked off an index you share a name with). Sherwin Williams popped 4.59%, while Dow Inc. fell 2.08%.
  • Chewy is also getting added to an index, replacing Stericycle on the MidCap 400. Shares rose 6.34%.
  • Peloton pedaled 3.59% higher on a double upgrade from Bank of America analysts, who like the bike company’s higher profit outlook and hiring of new CEO Peter Stern from Ford.
  • Yum! China, the company that operates Pizza Hut and KFC restaurants in China, climbed 7.12% after announcing that new store openings translated into better-than-expected revenue and earnings last quarter.

STOCKS DOWN

Nuclear energy stocks took a big hit today after the Federal Energy Regulatory Commission ruled that Talen Energy could not increase the amount of energy its nuclear plant in Susquehanna, PA, produces in order to power an Amazon data center. Talen fell 2.23%, Vistra Corp sank 3.18%, and Constellation Energy plummeted 12.46%.

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

Here’s where the major benchmarks ended:

  • The S&P 500® index (SPX) dipped 16.11 points (–0.28%) to 5,712.69; the $DJI dropped 257.59 points (–0.61%) to 41,794.60; and the $COMP lost 59.93 points (–0.33%) to 18,179.98.
  • The 10-year Treasury note yield (TNX) fell five basis points to 4.31%.
  • The CBOE Volatility Index® (VIX)edged up to 22.11, still below last week’s peaks.

CITE: https://tinyurl.com/tj8smmes

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DAILY UPDATE: Nvidia, Intel, Oil, Bitcoin, Treasury Yields, CMS and Physician Pay

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

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Nvidia is replacing Intel on the Dow Jones Industrial Average, a shakeup to the blue-chip index that replaces a flagging semiconductor company with the primary vendor of GPUs for AI.

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

  • Despite selling off last week, stocks spent Friday comfortably in the green thanks to strong earnings from big tech.
  • Treasury yields rose back above 4.3% as bonds sold off and investors poured money into risk assets.
  • Oil rose a bit on reports that Iran may retaliate against Israel sometime soon.
  • Bitcoin was unable to hold the line and continued to fall today as crypto volatility continues to escalate ahead of the election.

CITE: https://tinyurl.com/tj8smmes

Bipartisan Legislation Aims to Stop Medicare Cuts & Boost Physician Pay in 2025

Physicians and other healthcare practitioners may get a pay boost in 2025 through a bipartisan bill recently introduced in Congress. The proposed bill seeks to block planned Medicare pay cuts next year and would provide the first inflationary update to physician pay in years. The Medicare Patient Access and Practice Stabilization Act would counteract the 2.8% cut to the conversion factor proposed by the Centers for Medicare and Medicaid Services (CMS) in the draft CY-2025 Physician Fee Schedule. A stop-gap pay fix is usually enacted by Congress at the end of the year. 

Source: Emma Beavins, Fierce Healthcare [10/30/24].

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DAILY UPDATE: Ford, Peloton and Starbucks as Stocks Climb

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

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Ford paused production of its F-150 Lightning electric truck from mid-November to early January as demand for the once-coveted EV dwindles.

Peloton named Peter Stern, the co-founder of Apple Fitness+, as its next CEO.

Starbucks is bringing back Sharpied names on cups for the first time in four years as new CEO Brian Niccol tries to shake up the struggling coffee chain.

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STOCKS UP

  • Boeing offered striking machinists yet another new contract offer, including a 38% pay raise over the next four years. The union will vote on the contract on Monday. Shares climbed 3.54%.
  • Avis Budget motored 10.92% higher despite missing forecasts on both earnings and revenue. Shareholders celebrated the rental car company’s strong growth expectations from management and took advantage of a cheap valuation.
  • Globalstar rocketed 32.38% after the satellite communications company announced an expanded deal with Apple.
  • Charter Communications soared 11.87% after losing fewer subscribers than expected, which is like a back-handed compliment in the investing world.

STOCKS DOWN

  • Trump Media & Technology Group remains on the roller coaster, falling another 13.53% today as early exit polls show Vice President Kamala Harris with a lead in several key states.
  • Wayfair may have met earnings expectations last quarter, but the online home goods retailer also lost customers and fulfilled fewer orders. Shares fell 6.26%.
  • Super Micro Computer continued to sell off after the resignation of its financial auditor, an almost-sure sign of fraud. Shares sank another 10.51%.

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  • The S&P 500® index (SPX) rose 23.35 (0.41%) to 5,728.80 to end the week down 1.37%; the Dow Jones Industrial Average® ($DJI) added 288.73 points (0.69%) to 42,052.19 to end the week down 0.15%; and the NASDAQ Composite®($COMP) gained 144.76 points (0.80%) to 18,239.92 to end the week down 1.50%.
  • The 10-year Treasury note yield (TNX) climbed eight points to 4.36%, the highest since early July.
  • The CBOE Volatility Index® (VIX)remained elevated at 21.88.

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DAILY UPDATE: New Highs for NASDAQ

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

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STOCKS UP

Trump Media & Technology Group rocketed higher at the opening bell, prompting the Nasdaq to halt trading on what has quickly become the meme stock du jour. Shares ended the day 8.76% higher.

  • 23andMe clawed 1.86% higher after introducing three new board members about a month after the entire board resigned.
  • VF Corp, parent company of clothing brands JanSport, Vans, and North Face, surged 27.01% thanks to an impeccable earnings report that revealed its turnaround plans are coming to fruition.
  • Trex, the stuff your dad built an awesome deck out of, saw sales fall last quarter but still managed to beat earnings expectations. Shares popped 6.19%.

STOCKS DOWN

  • JetBlue Airways sank 17.08% in spite of reporting a smaller loss than analysts expected. The problem is all the turbulence that lies ahead.
  • D.R. Horton is the largest homebuilder by market cap, so when it says that 2025 will be a bad year, investors should listen. Shares dropped 7.29% on the news.
  • Crocs stumbled 19.17% after beating earnings but announcing that its fiscal year would be bogged down by poor sales of its HeyDude shoe brand.
  • Stanley Black & Decker fell 8.77% after missing on both profits and sales, citing weaker consumer spending.
  • Xerox plummeted 17.41% after the company that can’t make a printer that works for longer than 3 months without needing a new ink cartridge announced weaker sales than expected.

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Here’s where the major benchmarks ended:

  • The S&P 500® index (SPX) rose 9.40(0.16%) to 5,832.92; the Dow Jones Industrial Average® ($DJI) fell 154.52 points (–0.36%) to 42,233.05; and the $COMP added points 145.55 (0.78%) to 18,712.75.
  • The 10-year Treasury note yield (TNX) finished unchanged at 4.27% after reaching nearly 4.34% earlier today.
  • The VIX fell slightly to 19.49.

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DAILY UPDATE: Health-Care’s Future as Stocks Climb

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

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Healthcare’s future as HSBC Innovation Banking collaborated with LINUS and HLTH to help prepare the healthcare ecosystem for the future. The Health 2035 report goes in depth with discussions between visionaries in the ecosystem and studies of young physicians’ forecasts for what the state of care will be in the year 2035. Download the report.

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Stocks Up

  • Trump Media & Technology Group soared 21.59% following a major rally at Madison Square Garden, an appearance on Joe Rogan’s podcast, and rising chances of winning the election. Fun fact: After this latest stock surge, Trump Media is now worth almost as much as social media network X.
  • Nio surged 10.46% thanks to an upgrade from Macquerie, whose analysts believe that the EV startup could see strong growth from new vehicle launches next year.
  • Spotify has earned a spot on Wells Fargo’s top pick playlist, with analysts confident the stock could rise over 20%. Shares rose 1.27%.
  • Lower oil prices hurt energy stock, but are a big boost for companies that spend a lot on fuel. Carnival Corp rose 4.83%, Royal Caribbean Cruises climbed 1.35%, and American Airlines popped 3.42%.

Stocks Down

  • Philips floundered 15.95% after the Dutch consumer goods manufacturer missed on earnings and lowered its full-year forecast.
  • Boeing continued to fall yet another 2.79%, this time on the news that it is raising $19 billion through a stock offering in the hopes that it fends off a credit rating downgrade.
  • Oil stocks took a beating thanks to a big decline for crude prices. Diamondback Energy fell 3.36%, APA Corp. dropped 4.51%, Exxon Mobil sank 0.49%, and BP lost 1.48%.

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Here’s where the major benchmarks ended:

  • The S&P 500® index (SPX)rose15.40points (0.27%) to 5,823.52; the Dow Jones Industrial Average® ($DJI) added 273.17 points (0.65%) to 42,387.57; and the NASDAQ Composite® ($COMP) gained 48.58 points (0.26%) to 18,567.19.
  • The 10-year Treasury note yield (TNX) climbed six basis points to 4.29%, the highest close since July 9.
  • The VIX fell to 19.53.

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DAILY UPDATE: Boeing, NASDAQ and 401(k)s V. Pension Plans

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

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Boeing is exploring a sale of its space business, the Wall Street Journal reported, as part of a strategy to streamline.

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Stocks were mixed to close out the week, with the NASDAQ rebounding after a bad few days for the tech sector.

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401(k) vs. pension: There’s pros and cons to both. While pension plans guarantee a steady income stream, payments sometimes aren’t indexed by inflation, which can erode their value over time. On the flip side, 401(k)s are subject to market fluctuations and require financial literacy.

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DAILY UPDATE: Stocks Finish with New NASDAQ High

Posted on October 26, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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Here’s where the major benchmarks ended:

  • The SPX fell 1.74 points (–0.03%) to 5,808.12 to end the week down 0.96%; the $DJI lost 259.96 points (–0.61%) to 42,114.40 to end the week down 2.68%; and the $COMP rose 103.12 points (0.56%) to 18,518.61 to end the week up 0.16%.
  • The 10-year Treasury note yield (TNX) added three basis points to 4.23%.
  • The CBOE Volatility Index® (VIX) climbed sharply to 19.95, nearing recent highs. The 20 level is an area to watch next week, as it traditionally signals more volatile markets.

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Stocks Up

  • Pick a direction already: On Wednesday, Spirit Airlines soared 30% on news of a possible merger with Frontier. On Thursday, shares plunged 21% as investors took their profits. Today, shares are back up 15.05% after Spirit announced it will cut jobs and sell planes in an effort to boost profits.
  • Texas Roadhouse sizzled like a porterhouse T-bone, rising 3.58% after announcing that earnings rose 32% last quarter.
  • Deckers Outdoor popped 10.57% thanks to soaring demand for Hoka shoes, helping the footwear company beat earnings estimates and raise forecasts.
  • Newell Brands may not be a household name, but they make household goods like Sharpies, Elmer’s Glue, and Crock-Pot—all things that people bought a ton of last quarter, which is why shares soared 21.59% today.
  • Apple is just fine, thanks: The Market Cap King got a rare analyst downgrade from KeyBanc, which is worried about lower demand from China. Shareholders were unfazed, and the stock rose 0.36%.

STOCKS DOWN

  • AutoNation hasn’t shaken off the aftereffects of a major cyberattack in July just yet, which is why revenue and earnings both missed estimates last quarter. Shares fell 4.46% today.
  • Colgate-Palmolive announced a beat-and-raise quarter, but it wasn’t enough to impress shareholders, who pushed the consumer staples giant down 4.14%.
  • Mohawk Industries was the worst-performing stock on the market at one point today, falling 13.70% after the flooring manufacturer reported disappointing earnings and lowered its fiscal forecast.
  • Online education company Coursera got an F from shareholders after the company lowered its revenue guidance for the full fiscal year. Shares dropped 9.83%.
  • Newmont had its worst day in over a decade yesterday after the gold miner reported shockingly bad earnings, with higher costs offsetting the rising price of gold. Shares continued to fall 1.69% today.

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DAILY UPDATE: MBAs, Apple and Goldman Sachs as Stock Markets Mixed

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

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Applications to MBA programs are up 12% in 2024 after declining for two years, according to the Graduate Management Admission Council, which surveys business school admissions offices.

Apple and Goldman Sachs were ordered to pay $89 million by the Consumer Financial Protection Bureau for failing to address thousands of consumer disputes of Apple Card transactions.

Apple is cutting production of Vision Pro due to slow sales. The tech giant is scaling down production of its $3,500 Vision Pro VR headset and might halt assembly of new ones next month,

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STOCKS UP

  • UPS delivered a strong earnings report, with revenue beating analyst expectations for the first time in two years. Shares popped 5.28%.
  • ServiceNow rose 5.41% to a new all-time high thanks to a beat-and-raise third-quarter earnings report powered by higher AI demand for the enterprise software company.
  • Whirlpool climbed 11.20% after announcing solid earnings and reiterating guidance for the rest of the fiscal year, reassuring worried shareholders.
  • Molina Healthcare soared 17.67% after beating both top and bottom line estimates in the third quarter, thanks to the health insurer reaping the rewards of higher Medicaid payouts.

STOCKS DOWN

  • IBM dropped 6.17% on disappointing third-quarter results, missing on both top and bottom line forecasts thanks to lower consulting and infrastructure revenue.
  • Peloton pedaled higher yesterday after Greenlight Capital’s David Einhorn declared that the company was undervalued while he was pedaling on a Peloton. The stunt only worked for a quick sprint, though, with shares back down 2.07% today.
  • TKO Group Holdings got hit with a piledriver after the owner of the WWE and UFC announced it is acquiring several entertainment companies, including Professional Bull Riders. Investors bucked shares off 8.69%.
  • Keurig Dr. Pepper fizzled 4.80% thanks to lower sales last quarter, though the company is trying to bolster revenue by acquiring energy drink maker Ghost.
  • Air taxi startup Lilium crashed 61.50% on the news that its main subsidiaries have run out of cash and are filing for insolvency.

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Here’s where the major benchmarks ended:

  • The S&P 500® index (SPX) rose 12.44 points (0.21%) to 5,809.86; the $DJI fell 140.59 points (–0.33%) to 42,374.36; and the NASDAQ Composite® ($COMP) added 138.83 points (0.76%) to 18,415.49.
  • The 10-year Treasury note yield fell four basis points to 4.20%.
  • The CBOE Volatility Index® (VIX) was about flat at 19.18.

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DAILY UPDATE: Inflation Calm but Stock Markets Down

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

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Quote: “It looks like the global battle against inflation has largely been won, even if price pressures persist in some countries. In most countries, inflation is now hovering close to central bank targets…The decline in inflation without a global recession is a major achievement.”—IMF (CNN Business)

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STOCKS UP

  • Spirit Airlines is back from the dead, soaring 46.67% on a Wall Street Journal report that it may end up merging with Frontier Airlines after all. Frontier Airlines rose 0.76% on the news.
  • AT&T climbed 4.65% after it beat earnings expectations in the third quarter, though it missed on revenue.
  • Starbucks fell hard late yesterday but recovered a bit this afternoon after new CEO Brian Niccol said the coffee chain is suspending its 2025 fiscal outlook. Shares rose 0.86% today.
  • Stride Technology sprinted 39.11% higher after the education technology company absolutely crushed earnings expectations.

STOCKS DOWN

  • Coca-Cola fizzled 2.07% after beating both top and bottom line expectations. The problem is that the only reason the soda giant performed well was because it raised prices, while demand for soft drinks slowed.
  • Enphase Energy plummeted 14.92% after the solar stock missed on both earnings and revenue expectations last quarter.
  • Boeing is a very familiar name in the “What’s down” section, and its latest earnings report did nothing to help. The manufacturing giant notched a $6 billion loss last quarter, and shares fell 1.76%.

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Here’s where the major benchmarks ended:

  • The SPX fell 53.78 points (–0.92%) to 5,797.42; the Dow Jones Industrial Average® ($DJI) lost 409.94 points (–0.96%) to 42,514.95; and the NASDAQ Composite ($COMP) dropped 296.47 points (–1.60%) to 18,276.65.
  • The 10-year Treasury note yield gained four basis points to 4.24%. 
  • The CBOE Volatility Index® (VIX) jumped to 19.37.

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DAILY UPDATE: 2025 IRS Tax Brackets as Stock Markets Barely Budge

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

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The IRS has announced the annual inflation adjustments for the year 2025, including tax rate schedules, tax tables and cost-of-living adjustments. These are the official numbers for the tax year 2025—that tax year begins January 1, 2025. These are not the numbers that you’ll use to prepare your 2024 tax returns in 2025 (you’ll find those official 2024 tax numbers here). These are the numbers that you’ll use to prepare your 2025 tax returns in 2026.

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STOCKS UP

  • Philip Morris International was smoking hot today, rising 10.47% to a record high thanks to strong demand for its Zyn nicotine pouches.
  • Americans just love a pickup truck: General Motors revved 9.85% higher on an impressive beat-and-raise earnings report.
  • Trump Media & Technology Group rose 9.87% to its highest level since July as the “Trump trade” wagering on the former president to regain the White House picks up steam.
  • Quest Diagnostics isn’t just a sad, windowless building where you get your blood drawn—it’s also been a pretty profitable investment. Shares rose 6.88% on strong earnings and revenue growth.

STOCKS DOWN

  • Stop us if you’ve heard this one before: Target is cutting the price of 2,000 products ahead of the holiday season. Shares sank 1.13% as shareholders digest what appears to be a desperate move to boost sales.
  • Verizon Communications dropped 5.03% after missing on both revenue and earnings estimates. But the real problem was slowing customer growth and phone sales.
  • Defense contractors were in the earnings spotlight today, and none of them did well. GE Aerospace tumbled 9.07% despite beating analyst forecasts and Lockheed Martin fell 6.12% after sales missed estimates.
  • Genuine Parts, better known as NAPA Auto Parts, plummeted 20.96% after earnings missed estimates and the company announced lower fiscal year forecasts.

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

Here’s where the major benchmarks ended:

  • The SPX fell 2.78 points (–0.05%) to 5,851.20; the Dow Jones Industrial Average® ($DJI) lost 6.71 points (–0.02%) to 42,924.89; and the $COMP gained 33.12 points (0.18%) to 18,573.13.
  • The 10-year Treasury note yield (TNX) added two basis points to 4.2%.
  • The CBOE Volatility Index® (VIX) fell to 18.15, down from above 20 a week ago.

CITE: https://tinyurl.com/tj8smmes

Visualize: How private equity tangled banks in a web of debt, from the Financial Times.

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DAILY UPDATE: Stock Markets Fall

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

MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING

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Here’s where the major stock market benchmarks ended:

  • The S&P 500® index (SPX) fell10.69points (–0.18%) to 5,853.98; the Dow Jones Industrial Average® ($DJI) lost 344.31 points (–0.80%) to 42,931.60; and the NASDAQ Composite® ($COMP) rose 50.45 points (0.27%) to 18,540.01.
  • The 10-year Treasury note yield (TNX) climbed 11 basis points to 4.18%, outpacing a 7 basis-point rise for the 2-year Treasury note yield.
  • The CBOE Volatility Index®(VIX) climbed to 18.6 but remains below recent peaks.

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

STOCKS UP

  • Spirit Airlines soared like one of its bankrupt planes, rising 53.06% thanks to an extension for refinancing its debt.
  • Boeing popped 3.11% on the news that it has reached a tentative deal with the machinists union that has been on strike for over a month now. With Boeing’s earnings announcement coming Wednesday, shareholders are definitely breathing a sigh of relief.
  • Activist investor Starboard Value has taken a sizable stake in Tylenol-maker Kenvue, which was spun off of Johnson & Johnson just last year. Kenvue shares rose 5.52% on the news.
  • Warby Parker climbed 9.84% thanks to an upgrade from Goldman Sachs analysts, who like the company’s strong margin growth and improved operational efficiency.

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

STOCKS DOWN

  • Cigna will once again attempt to acquire fellow health insurer Humana. Shareholders on both sides didn’t like the idea: Shares of Cigna sank 4.69%, and Humana fell 2.51%.
  • UPS dropped 3.38% on a downgrade from Barclays analysts citing pressures on the company’s margins, including higher competition and weaker demand. Management will have a chance to respond when earnings drop on Thursday.
  • Southwest Airlines fell 1.74% after Bloomberg reported that the beleaguered airline wants to call a truce with activist investor Elliott Investment Management.

CITE: https://tinyurl.com/tj8smmes

Visualize: How private equity tangled banks in a web of debt, from the Financial Times.

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DAILY UPDATE: Stock Markets, Netflix and Medicare Part C as CVS Closes Stores

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

MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING

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Markets: The S&P 500 hit an all-time high yesterday, closing out its sixth consecutive week of gains for its longest streak of 2024. The Dow and NASDAQ also closed in the green.

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

The largest Medicare Advantage insurers have prioritized profits over patient care by increasing the use of prior authorization in recent years to frequently deny post-acute care services to older adults, according to a report published Oct. 17th by the Senate Permanent Subcommittee on Investigations.

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

The drugstore chain CVS is in the process of shuttering “roughly 300” locations across the country in 2024, a spokesperson confirmed to Good Housekeeping. That includes the dozens of pharmacies in Target stores.

CITE: https://tinyurl.com/tj8smmes

Stock spotlight: Netflix stock jumped on Friday, a day after its earnings report beat expectations.

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DAILY UPDATE: CVS Health and AI Healthcare Chatbots as Stocks Reach New Highs

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

MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING

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CVS Health may be breaking up…with itself. The board of directors at CVS Health—the parent company of CVS Pharmacy, pharmacy benefit manager CVS Caremark, and insurance unit Aetna—are working with a group of bankers to review the company’s strategy, which according to Reuters, may lead to a split between its pharmacy division and Aetna.

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

Stocks Up

  • Apple climbed 1.23% on a Bloomberg report that iPhone 16 demand has been shockingly strong in China.
  • Verizon Communications will purchase $1 billion worth of US Cellular’s wireless spectrum licenses. Verizon rose just 0.34%—but it’s a huge deal for US Cellular, which popped 7.22%, and Telephone and Data Systems, which owns 82% of US Cellular, and soared 15.40%.
  • Intuitive Surgical rose to a new all-time high, climbing 10.01% on strong earnings powered by sales of its da Vinci device.
  • Lamb Weston, the company behind the french fries you overindulge in every time you go out to dinner, is being pushed by activist investor Jana Partners toward exploring a sale. Shareholders rejoiced, and the stock rose 10.17%.

Stocks Down

CVS Health sank 5.23% on the news that CEO Karen Lynch will be replaced by David Joyner after three years at the helm of the struggling pharmacy/retailer. Joyner ran the company’s pharmacy service business for the last two years.

  • WD-40 seems like the staple of all consumer staples, but the company missed on both revenue and earnings estimates last quarter. Shares fell 4.79% on the news.
  • American Express dropped 3.15% after the credit card company reported a rare miss today, beating bottom-line estimates but missing revenue forecasts last quarter.
  • MGP Ingredients makes all the booze you drink under different brand names, but people aren’t drinking enough. The beverage maker issued preliminary earnings that included a 24% drop in sales. Shares tanked 24.16%.

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

Here’s where the major stock market benchmarks ended:

  • The S&P 500® index (SPX)rose 23.20 points (0.40%) to 5,864.67, a new record high close, to end the week up 0.85%; the Dow Jones Industrial Average® ($DJI) added 36.86 points (0.09%) to 43,275.91, also another record high finish, to end the week up 0.96%; and the $COMP gained 115.94 points (0.63%) to 18,489.55 to end the week up 0.80%.
  • The 10-year Treasury note yield (TNX) fell two basis points to 4.07%.
  • The CBOE Volatility Index® (VIX) fell to 18.17, the lowest since September 30.

CITE: https://tinyurl.com/tj8smmes

A new survey results may prompt health systems to second-guess some of their future plans. A recent University of Michigan survey found 74% of adults ages 50+ have “very little or no trust” in health info generated by AI. Maybe it’s not time to roll out chatbots on patient portals just yet.

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DAILY UPDATE: UnitedHealth, PBMs, Walgreens and Edmunds as Stock Climb

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

MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING

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UnitedHealth posted $6 billion in profit and $100 billion in revenue, but the company’s stock is dipping this morning.

Walgreens is closing 1,200 stores by 2027 and a net loss of $3 billion, though the company beat Wall Street’s expectations.

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

Stocks Up

  • Chip stocks recovered lost ground today thanks to a strong earnings report from TSMC (more on that below). Nvidia led the group higher, rising 0.89% to yet another new all-time high.
  • Blackstone rose 6.30% to a new record high after the world’s largest alternative asset manager reported an excellent quarter.
  • Expedia popped 4.75% after a report by the Financial Times revealed that Uber had explored an acquisition of the travel site. Expedia shareholders cheered the news, while Uber shares sank 2.45%.

Stocks Down

  • Robinhood fell 2.27% after announcing its new Legend trading platform geared specifically toward advanced traders.
  • Lucid Group plummeted 17.99% on the news that the EV automaker is offering over 262 million shares of its common stock in an attempt to raise funds.
  • CSX dropped 6.71% after missing both top- and bottom-line estimates last quarter thanks in no small part to hurricanes Helene and Milton.
  • Health insurance stocks took a beating today due to a not-great earnings report from Elevance Health (more on that below, too). Centene Corp. fell 9.09%, while Molina Healthcare tumbled 12.55%.

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

Here’s where the major benchmarks ended:

  • The S&P 500® index (SPX) slipped 1.00point (–0.02%) to 5,841.47; the $DJI added 161.35 points (0.37%) to 43,239.05; and the NASDAQ Composite®($COMP) rose 6.53 points (0.04%) to 18,373.61. 
  • The 10-year Treasury note yield (TNX) climbed eight basis points to 4.1%.
  • The CBOE Volatility Index® (VIX) sank to 18.97 by late Thursday, a two-week low.

CITE: https://tinyurl.com/tj8smmes

The average amount owed on “upside down” auto loans, in which the balance is more than the car is worth, hit a record high of $6,458 in the third quarter, according to Edmunds, a site that helps consumers research and buy cars

Diabetes advocates have officially joined the fight against pharmacy benefit managers (PBMs).

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DAILY UPDATE: Goldman Sachs, Starbucks and Walgreens as Stock Markets Boost Up

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

MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING

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Goldman Sachs’ profit jumped 45% in monster quarter. The investment bank made $3 billion of profit on revenue of nearly $13 billion in Q3, it reported yesterday, surpassing even the rosiest of expectations. Bloomberg reported that it was the best quarter ever for Goldman’s stock trading unit, putting the group on track for a record year.

Walgreens said it will close 1,200 US stores, about one in seven locations, by 2027. The retailer will shutter 500 stores by the end of next year.

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

UP STOCKS

Trump Media & Technology Group has had a wild week, falling nearly 10% yesterday before trading of the stock was halted, then popping 15.52% today. Election hype, a Trump-sponsored cryptocurrency, and Truth+, a new streaming service, are keeping shareholders on their toes.

  • Abbott Laboratories rose 1.53% thanks to a stronger-than-expected earnings report powered by the company’s impressive medical device sales.
  • Aspen Aerogels makes insulating material for batteries, which sounds boring to everyone but the Department of Energy. The DOE signed a conditional commitment to loan the company up to $670 million, sending shares 13.24% higher.

DOWN STOCKS

  • Novavax plummeted 19.44% after the FDA put a hold on the pharma company’s flu and Covid vaccine combination.
  • ASML Holding NV dropped another 6.42% today as the semiconductor selloff continues.
  • Interactive Brokers enjoyed higher revenue and more trading from its user base last quarter, but earnings per share came in under expectations, and shares sank 4.05%.

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

Here’s where the major benchmarks ended:

  • The SPX rose27.21points (0.47%) to 5,842.47; the Dow Jones Industrial Average® ($DJI) added 337.28 points (0.79%) to 43,077.70; and the NASDAQ Composite®($COMP) increased 51.49 points (0.28%) to 18.367.08. 
  • The 10-year Treasury note yield (TNX) fell two basis points to just below 4.02%, the lowest close since October 4.
  • The CBOE Volatility Index® (VIX) dropped moderately to 19.58, still elevated considering stock market strength.

CITE: https://tinyurl.com/tj8smmes

Starbucks is reportedly pivoting from discounts and promotions to refocus on selling premium coffee and seasonal drinks

Visualize: How private equity tangled banks in a web of debt, from the Financial Times.

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