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DAILY UPDATE: Cisco-2-Splunk and the Markets

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

By Staff Reporters

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Cisco Systems has struck a $28 billion deal to buy analytics and security-software company Splunk as the networking-equipment giant looks to tap further into the rise of artificial intelligence. Cisco said Thursday it has agreed to pay $157 a share in cash for Splunk, a 31% premium to Wednesday’s closing price of $119.59 for the San Francisco company.

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Here is where the major benchmarks ended:

The S&P 500 Index was down 72.20 points (1.6%) at 4,330.00; the Dow Jones Industrial Average (DJIA) was down 370.46 points (1.1%) at 34,070.42; the NASDAQ Composite (COMP) was down 245.14 points (1.8%) at 13,223.98.
The 10-year Treasury note yield (TNX) was up about 14 basis points at 4.49%.
CBOE’s Volatility Index (VIX) was up 2.40 at 17.54.

Recession or interest rate concerns weighed particularly heavily on sectors viewed as having greater exposure to those factors. Shares of real estate, consumer discretionary, and financial companies were among the market’s poorest-performing sectors Thursday, with the KBW Regional Banking Index (KRX) sinking to an 11-week low.

The outlook for higher-for-longer interest rates helped lift the U.S. Dollar Index (DXY) to a 6½-month high, though it faded later.

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Filed under: "Ask-an-Advisor", Alerts Sign-Up, Financial Planning, Funding Basics, Investing | Tagged: CBOE, Cisco, DJIA, DOW, markets, NSDAQ, Russell 2000, S&P 500, Splunk, VIX | Leave a comment »

DAILY UPDATE: FOMC Rate Pauses the Markets

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

By Staff Reporters

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The Federal Reserve announced it was leaving its benchmark interest rate unchanged at a 22-year high on Wednesday but signaled it could hike rates again in its fight to bring down inflation. After a two-day meeting the Fed announced its federal funds rate would remain in a range of 5.25 to 5.5% – the same level as the central bank announced in July, when it last raised rates.

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Here is where the major benchmarks ended:

The S&P 500 Index was down 41.75 points (0.9%) at 4,402.20; the Dow Jones Industrial Average (DJIA) was down 76.85 points (0.2%) at 34,440.88; the NASDAQ Composite was down 209.06 points (1.5%) at 13,469.13.
The 10-year Treasury note yield (TNX) was up about 3 basis points at 4.393%.
CBOE’s Volatility Index (VIX) was up 1.03 at 15.14, after touching a two-week high.

Communication services and technology were among the weakest sectors Wednesday, with the Philadelphia Semiconductor Index (SOX) falling to its lowest level since late May.

Regional banks were also lower, and energy stocks slipped after crude oil futures pulled back from a recent rally. Real estate and consumer staples posted modest gains. The U.S. Dollar Index (DXY) strengthened back toward a six-month high.

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Filed under: "Ask-an-Advisor", Alerts Sign-Up, Financial Planning, iMBA, Inc., Investing | Tagged: banks, CBOE, DJIA, DOW, DXY, Fed Rate Pause, FOMC, inflation, interest rates, IR, NSDAQ, Russell 2000, S&P 500, SOX, VIX | Leave a comment »

DAILY UPDATE: Defining the term “Doctor” and the Markets

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

By Staff Reporters

Three nurse practitioners who earned doctorates of nursing practice are suing the state of California, saying that they have earned the right to tout themselves using the term “doctor.” The nurse practitioners claim a California statute that only allows California-licensed allopathic, podiatric and osteopathic physicians to use the terms “doctor” and “Dr.” is unconstitutional. The restriction has been on the books since at least 1937 to avoid patient confusion over the level of education their health professionals have achieved.

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REF: AMA

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

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Here is where the major benchmarks ended:

The S&P 500 Index was down 9.58 points (0.2%) at 4,443.95; the Dow Jones Industrial Average (DJIA) was down 106.57 points (0.3%) at 34,517.73; the NASDAQ Composite (COMP) was down 32.05 points (0.2%) at 13,678.19.
The 10-year Treasury note yield (TNX) was up about 5 basis points at 4.369%.
CBOE’s Volatility Index (VIX) was up 0.11 at 14.11.

Transportation and small-cap companies were among the market’s weakest areas Tuesday. Both the Dow Jones Transportation Average (DJT) and Russell 2000 Index (RUT) ended at their lowest levels since late June. Technology companies were also lower, with the Philadelphia Semiconductor Index (SOX) down more than 1%.

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Filed under: "Ask-an-Advisor", Alerts Sign-Up, iMBA, Inc., Investing | Tagged: allopathic, CBOE, DJIA, doctor, doctor license, DOW, NPs, NSDAQ, osteopathic, podiatric, Russell 2000, S&P 500, VIX | Leave a comment »

DAILY UPDATE: UAW Economics and the Markets

Posted on September 19, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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$5.6 billion. That’s the estimated economic impact should the United Auto Workers strike against Detroit’s Big Three automakers last 10 days, according to the Anderson Economic Group. (Bloomberg)

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Here is where the major benchmarks ended:

The S&P 500^® Index (SPX) was up 3.21 points (0.1%) at 4,453.53; the Dow Jones Industrial Average (DJIA) was up 6.06 points at 34,624.30; the NASDAQ Composite (COMP) was up 1.90 points at 13,710.24.
The 10-year Treasury note yield (TNX) was down about 1 basis point at 4.311%.
CBOE’s Volatility Index (VIX) was up 0.25 at 14.04.

Energy shares were once again one of the market’s strongest performers thanks to an extended rally in crude oil futures, which rose to a 10-month high of more than $92 a barrel Monday.

Regional banks and consumer discretionary stocks were among the weakest sectors. The 10-year Treasury yield climbed near a 16-year high posted in August before pulling back later in the session.

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Filed under: "Ask-an-Advisor", Alerts Sign-Up, Experts Invited, iMBA, Inc., Investing, LifeStyle | Tagged: Anderson Economic Group, banks, Bloomberg, CBOE, COMP, DJIA, DOW, NSDAQ, oil, Russell 2000, S&P 500, SPX, TNX, UAW, VIX | Leave a comment »

DAILY UPDATE: Jim Cramer, Charles Schwab, Microsoft and the Markets

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

By Staff Reporters

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An ETF centered around the bullish stock picks of CNBC’s Jim Cramer is shutting down.The Long Cramer Tracker ETF was launched in February and attracted just $1.3 million in assets.

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Charles Schwab intends to cut jobs and downsize its corporate office space, looking to save upwards of $500 million annually. Investors are underwhelmed, sending Schwab shares down about 3% yesterday.

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

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British antitrust officials said they were reviewing a revised offer by Microsoft to win approval of its $69 billion merger with Activision Blizzard, an effort to clear the biggest remaining regulatory hurdle to the major video games deal. To address the concerns of British regulators that the deal would stunt the development of a new area of gaming technology, Microsoft said it would transfer the cloud streaming licensing rights for all current and new Activision Blizzard games to Ubisoft Entertainment, a rival game publisher.

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Here is where the major benchmarks ended:

The S&P 500^® Index (SPX) fell 12 points (0.28%) to 4,387.55; the Dow Jones Industrial Average (DJIA) fell 175 points (0.51%) to 34,288.83; the NASDAQ Composite rose 8 points (0.06%) to 13,505.87.
The 10-year Treasury note yield (TNX) edged down to 4.332%.
CBOE’s Volatility Index (VIX) fell 0.1 points to 17.04.

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

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Filed under: "Ask-an-Advisor", Alerts Sign-Up, Funding Basics, Investing | Tagged: ActivisionBlizzard, CBOE, DJIA, DOW, Long Cramer Tracker ETF, microsoft, MSFT, NSDAQ, S&P 500, Schwab, SPX, stock markets, TNX, UbiSoft, Vox | Leave a comment »

DAILY UPDATE: Ruble Down While U.S. Markets Up

Posted on August 15, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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The Russian ruble traded at nearly 101 to the U.S. dollar on Monday for the first time it has fallen below the symbolic threshold since March last year.

The Russian ruble was near the 100 per USD level, holding at its lowest in 17 months despite the Central Bank of Russia’s announcement of an extraordinary meeting on Tuesday to support the currency amid its freefall. Economists expect the CBR to hike its rate by 150bps to 10%, extending the start of July’s tightening cycle. The ruble is 27% down against the dollar year-to-date amid a slowing economy, unbalanced currency flows, and capital flight from exiting foreign companies. The development of new supply chains since the start of Western sanctions boosted imports to Russia and maintained steady selling pressure on the ruble, with the latest trade surplus sinking by 75% from the prior year and 53% from levels before the war. In the meantime, the outlook on exports deteriorated as demand from key partners in China and India declined. The developments drove the CBR to halt forex purchases under the government’s budget rule to halt forex volatility.

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Here is where the major benchmarks ended:

The S&P 500 Index was up 25.67 points (0.6%) at 4,489.72; the Dow Jones Industrial Average (DJIA) was up 26.23 points (0.1%) at 35,307.63; the NASDAQ Composite was up 143.48 points (1.1%) at 13,788.33.
The 10-year Treasury note yield (TNX) was up about 3 basis points at 4.193%.
CBOE’s Volatility Index (VIX) was down 0.04 at 14.80.

Chipmakers drove gains for the tech-heavy NASDAQ, as the Philadelphia Semiconductor Index (SOX) jumped 2.9% to erase its entire Friday drop.

Financial shares were among the weakest performers, with the KBW Regional Banking Index (KRX) down 1.8%. Oilfield services shares were also weak behind a drop of nearly 1% in crude oil futures.

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

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Filed under: "Ask-an-Advisor", Alerts Sign-Up, Alternative Investments, Funding Basics, Investing | Tagged: CBOE, CBR, Central Bank Russia, DJIA, DOW, Forex, KRX, NSDAQ, oil, ruble, Russian Ruble, S&P 500, SOX, TNX, VIX | Leave a comment »

DAILY UPDATE: Wells Fargo Fined, Purdue Pharma Blocked, and the Markets

Posted on August 11, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Several US financial firms, including multiple Wells Fargo companies, will pay a combined $549 million in fines after admitting they couldn’t produce discussions about company business from smartphone messaging apps used by their employees, “including those at senior levels.” Both the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) fined banks for being unable to produce discussions going back to at least 2019. The regulators say employees used their personal devices to discuss official company business via apps like iMessage, WhatsApp, or Signal and that those “off-channel communications” weren’t “maintained or preserved.”

Not keeping records of those conversations violates the 1934 Securities Exchange Act’s record keeping rules, as well as similar rules from the Investment Advisers Act of 1940, according to the SEC. The CFTC maintains its own record keeping requirements, which it says were violated.

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The U.S. Supreme Court on Thursday temporarily blocked Purdue Pharma’s plan to emerge from bankruptcy that shielded the founding Sackler families from liability in the nation’s opioid epidemic.

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Here is where the major benchmarks ended:

The S&P 500 was up 1.12 points at 4,468.83; the Dow Jones Industrial Average (DJIA) was up 52.79 points (0.2%) at 35,176.15; the NASDAQ Composite was up 15.97 points (0.1%) at 13,737.99.
The 10-year Treasury note yield (TNX) was up about 10 basis points at 4.109%.
CBOEs Volatility Index (VIX) was down 0.07 at 15.89.

Communication services and transportation shares were among the strongest performers Thursday. Energy stocks slipped as crude oil futures tumbled more than 1.5%. Small-caps were also under pressure, with the Russell 2000 (RUT) falling slightly.

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

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Filed under: "Ask-an-Advisor", Alerts Sign-Up, Ethics, Experts Invited, Investing, Quality Initiatives, Risk Management | Tagged: CBOE, CFTC, DJIA, DOW, NASD, NSDAQ, opioid, Purdue, RUT, S&P 500, Sackler, SEC, TNX, VIX, Wells Fargo | Leave a comment »

DOW THEORY: Explained

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

What is the Dow Theory?

By Staff Reporters

Pioneered by Charles H. Dow, one of the founders of The Wall Street Journal and Dow Jones & Co., and the publisher of MarketWatch, the theory states that if two stock-market averages, most commonly the Dow industrials and transport gauges, reach notable new highs within the same short period, then the broader market is likely headed higher.

It also was one of the first theories that sought to codify a methodology for prognosticating where the market might be headed in the intermediate future. For more than a century, it’s been a staple in the repertoire of technical strategists, who aim to glean insights through analysis of stock-market charts and indicators.

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

Dow Theory has lost some of its luster in modern times, especially as the Dow has taken a backseat in recent years to the S&P 500 and high flying tech-heavy indexes like the NASDAQ Composite and NASDAQ-100 critics also have lambasted it as overly simplistic.

MORE: https://medicalexecutivepost.com/2022/06/23/the-technicians/

But proponents of the technical Dow Theory can still point to a wealth of historical data showing it generally works as a buy signal, especially if its broadened to include other indexes like the now-dominant S&P 500.

MORE: https://www.investopedia.com/terms/d/dowtheory.asp

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Filed under: "Ask-an-Advisor", Experts Invited, Financial Planning, Investing | Tagged: charts, DJIA, DOW, DOW Theory, MarkwtWatch, NSDAQ, S&P 500, Wall Street Journal | Leave a comment »

DAILY UPDATE: Deutsche Bank, YouTube Health Initiative and the Markets

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

By Staff Reporters

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Regulators fined Deutsche Bank $186 million for not fixing anti-money laundering, due diligence, and sanctions controls. This is the third time since 2015 that the Federal Reserve has fined the troubled bank for internal control failures. (CNN Business)

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Under the YouTube Health Initiative, the company partnered with several healthcare organizations, including traditional health systems like Cleveland Clinic in Ohio and Mass General Brigham in Boston, as well as online health education platforms like Osmosis and Psych Hub. Other partners include the medical journal the New England Journal of Medicine, the World Health Organization, and the American Public Health Association.

These health organizations created videos on a range of health topics, which YouTube curates in what it calls “carousels” and labels to indicate that the information comes from reputable sources. If someone searches for information on diabetes, for example, they’ll get a carousel of videos from the health partners on diabetes.

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Here is where the major benchmarks ended yesterday and for the week:

The S&P 500 Index was up 1.47 points at 4,536.34, up 0.7% for the week and the benchmark’s eighth weekly gain in the past 10; the Dow Jones industrial average was up 2.51 points at 35,227.69, up 2.1% for the week; the NASDAQ Composite was down 30.50 points (0.2%) at 14,032.81, down 0.6% for the week.
The 10-year Treasury note yield (TNX) was down about 2 basis points at 3.837%.
CBOE’s Volatility Index (VIX) was down 0.39 at 13.60.

Utility and health care shares were among the strongest performers Friday, which may reflect investors rotating into more “defensive” sectors, which haven’t participated as much in this year’s rally and may be seen as a “relative value” or “catch-up” play.

Energy stocks were also strong as crude oil futures jumped over 2% and posted a fourth straight weekly gain. Regional banks and communication services were among the weakest sectors, while the small-cap-focused Russell 2000 (RUT) fell slightly.

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

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Filed under: "Ask-an-Advisor", Breaking News, Ethics, Experts Invited, Investing, Risk Management | Tagged: AMA, American Medical Associaion, American Public Health Association, APHA, CNN, Deutsche Bank, DJIA, DOW, Mass General, NEJM, New England Journal of Medicine, NSDAQ, Osmosis, Psych Hub, Russell 2000, RUT, S&P 500, WHO, World Health Organization, youtube, YouTube Health Initiative | Leave a comment »

DAILY UPDATE: Nvidia Chips Launch NASDAQ as Fitch Questions US Credit Rating

Posted on May 26, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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The value of the US tech company Nvidia has soared by a quarter after it predicted a boom in demand for its computer chips to meet the needs of artificial intelligence products such as ChatGPT. Nvidia’s share price rose by 25% in early trading on the back of the announcement, and gave it a market valuation of more than $940bn (£760bn) after stock markets opened on Wall Street on Thursday, up from $755bn on Wednesday evening. The share price had already more than doubled over the course of 2023, amid huge optimism over the rapid progress of generative AI products. These require massive data centers full of semiconductor chips to operate.

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Here is where the major benchmarks ended yesterday:

The S&P 500^® Index was up 36.04 points (0.9%) at 4151.28; the Dow Jones industrial average was down 35.27 (0.1%) at 32,764.65; the NASDAQ Composite was up 213.93 (1.7%) at 12,698.09.
The 10-year Treasury yield was up about 10 basis points at 3.823%.
CBOE’s Volatility Index was down 1.01 at 19.02.

The Philadelphia Semiconductor Index also rose more than 4% to near a 14-month high, while the NASDAQ-100 hit a 13-month high. Transportation stocks were also higher. Oilfield services companies were among the weakest performers as crude oil futures fell more than 3%.

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US credit rating called into question

Credit rating agency Fitch just warned that the fight over the debt ceiling could force it to question the US’ perfect credit rating. It said it had put the nation’s triple-A credit rating on “rating watch negative,” meaning it’s poised for a downgrade if lawmakers can’t work things out. Even negotiations that drag on too long before a deal is reached could trigger a downgrade: That’s what happened in 2011, when S&P dinged the US’ credit over default fears. S&P still hasn’t returned the nation’s score to its highest rating.

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Filed under: "Ask-an-Advisor", Alerts Sign-Up, Financial Planning, Information Technology, Investing | Tagged: credit, credit rating, DJIA, DOW, FITCH, Fitch credit rating, Fitch Ratings, NASDAQ, NSDAQ, Nvidia, oil, Philadelphia, S&P 500, Semiconductor Index, Treasury yields, US Debt | Leave a comment »

DAILY UPDATE: MAXIM Data Breach, Gold and the Markets

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

By Staff Reporters

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

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

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And, here is where the major benchmarks ended yesterday:

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

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

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

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

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

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