BOARD CERTIFICATION EXAM STUDY GUIDES Lower Extremity Trauma
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Posted on September 4, 2025 by Dr. David Edward Marcinko MBA MEd CMP™
By A.I. and Staff Reporters
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Stocks: Markets slowed along yesterday with the S&P 500 and NASDAQ buoyed after a pivotal antitrust ruling for Alphabet pushed big tech stocks higher across the board.
Bonds: The 30-year Treasury pushed 5% yesterday as traders fret about the Fed’s independence and the odds of interest rate cuts.
Commodities: Oil sank on reports that OPEC+ is contemplating increasing its crude output next month, while gold reached yet another new record high as uncertainty swirling around the future of tariffs continued to rise. JPMorgan analysts now think the precious metal could climb as high as $4,250 by the end of next year.
Posted on August 30, 2025 by Dr. David Edward Marcinko MBA MEd CMP™
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Stocks: The final trading day of the summer was bad as a selloff in technology stocks took indexes down from recent all-time highs.
Fed drama: A judge did not issue a ruling on Fed Governor Lisa Cook’s bid for a temporary restraining order against President Trump, delaying it a few more days and leaving Cook in limbo.
Commodities: Gold hit a new all-time high as traders worried about the possibility of the Federal Reserve losing its independence.
Stocks: The stock markets rose today after Jerome Powell opened the door to interest rate cuts. The Dow soared to a new all-time high, while small-cap stocks in the Russell 2000 had a banner day.
Bonds: Yields fell while the chances of a rate cut after the Fed’s next meeting in September rose to 83%.
Commodities: Gold rose on rate cut hopes while oil fell as peace talks between Ukraine and Russia stalled. But the biggest winner is coffee: prices have risen for six straight days to cap off its biggest weekly gain since 2021.
Stocks: The multi-day rally wavered this afternoon as investors turned their attention to big tech earnings tomorrow. The S&P 500 closed at a record high, while the NASDAQ finally broke its hot streak.
FOMC: Treasury Secretary Scott Bessent sees no reason for Jerome Powell to step down, while President Trump tempered his outrage against the Fed chair. Instead, well-known economist Mohamed El-Erian took up the gauntlet.
Trade: Bessent said China may get an extension to make a true trade deal, while promising a “rash of trade deals” in the coming days. Speaking of, Trump declared the US has made a deal with the Philippines capping import levies at 19%.
Posted on July 22, 2025 by Dr. David Edward Marcinko MBA MEd CMP™
By A.I.
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Stocks: Markets lost steam late in the trading session yesterday as investors awaited more earnings announcements, with the DJIA tumbling into the red. But the S&P 500 managed to end the day above 6,300 for the first time ever, while the NASDAQ enjoyed its sixth consecutive record close
FOMC: Over the weekend,President Trump disputed reports that Treasury Secretary Scott Bessent talked him out of firing Jerome Powell. Meanwhile, Bessent said that the entire Federal Reserve should be put under review.
Trade: Commerce Secretary Howard Lutnick reiterated that August 1st will be the “hard deadline” for countries to make a deal with the US. Both negotiations and tensions with the EU are ramping up as Trump threatens to slap the bloc with 30% levies.
The Fed Drama: A White House official said President Trump will likely fire Jerome Powell soon. Stockssank at the thought of the Fed head being shown the door, offsetting the pleasant surprise of a flat wholesale inflation reading.
Markets: Stocks managed to recoup their losses after Trump said it’s “highly unlikely” that he will fire Powell, but bonds remained shaken.
Crypto: Bitcoin bounced higher after the crypto bills currently under consideration in the House of Representatives cleared a key hurdle.
Stocks: The major indexes plowed higher with the minutes of the last FOMC meeting showing that officials were not at all united about when to begin cutting rates. Investors also treated more tariff letters sent by President Trump to seven more countries including Iraq and the Philippines as not vital.
Bonds: US Treasuries snapped a five-day losing streak after a $39 billion sale of 1-year notes was met with solid demand.
Stocks: The S&P 500 and the NASDAQ started the second half of the year on the wrong foot, while the Dow climbed despite investors’ trepidation about conflict in Congress. But the Senate passed its version of the big, beautiful bill this afternoon, potentially getting us one step closer to ending all the drama.
Bonds: 10-year Treasury yields fell to their lowest level in two months this morning ahead of Jerome Powell’s appearance at a central banking conference today. There, Powell demurred on the possibility of a July rate cut, reiterating his wait-and-see approach.
Safe havens: The US dollar gained ground after a terrible first half of the year, while gold rose as investors braced themselves for the big jobs report on Friday.
Deals: Stocks popped at the open yesterday on the news that Canada has rescinded the digital services tax in order to lure the US back to the negotiating table. Meanwhile, Bloomberg reported that the EU will accept a 10% universal tariff in exchange for some key concessions.
Stocks: The S&P 500 and the NASDAQ both hit new record highs today, with the S&P 500 wrapping up its best quarter since Q4 20
The Fed: President Trump published a handwritten note asking Jerome Powell to cut interest rates, even as the White House considers new ways to replace the Fed Chair. Meanwhile, Goldman Sachs now sees the chances of the Fed cutting interest rates in September as “somewhat above 50%.”
Posted on June 26, 2025 by Dr. David Edward Marcinko MBA MEd CMP™
By AI
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Stocks: The S&P 500 and NASDAQ started the day inches away from their all-time highs, but the market rally faltered in mid-afternoon as relief from an Israel/Iran ceasefire faded and investors turned their attention to Friday’s PCE report.
Economy: Speaking of inflation, Jerome Powell stuck to his guns during his second day of congressional testimony, endorsing a wait-and-see mentality. President Trump is apparently tired of waiting, and says he has “3 or 4” candidates in mind to replace Powell.
Commodities: Oil bounced back after posting its biggest two-day decline since 2022.
Posted on June 20, 2025 by Dr. David Edward Marcinko MBA MEd CMP™
By AI
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Stocks: Investors looked past the escalating conflict between Iran and Israel, even as President Trump mulled his options for a US intervention, and stocks rose ahead of today’s Federal Reserve meeting.
Economy: Trump called Jerome Powell “a stupid person” hours before the Fed Chair decided to keep interest rates where they were Stocks fell thanks to the Fed’s prediction that inflation will rise to 3.1% by the end of the year, above previous forecasts of 2.8%.
Commodities: Gold fell just a hair as analysts called the commodity’s top, while platinum climbed to a four-year high.
Markets started the day down yesterday but regained lost ground throughout the afternoon as investors decided that any day with no new tariff announcements is a good day.
Be advised: Fed Chair Jerome Powell warned that “supply shocks” pose a challenge for the economy, and that interest rates may need to remain higher for longer. Meanwhile, JPMorgan Chase CEO Jamie Dimon said a recession is still on the table.
Oil took a tumble on comments by President Trump that the US is nearing a deal with Iran over its nuclear program that could lift sanctions against the country.
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Posted on May 8, 2025 by Dr. David Edward Marcinko MBA MEd CMP™
MEDICAL EXECUTIVE-POST–TODAY’SNEWSLETTERBRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
“Serving Almost One Million Doctors, Financial Advisors and Medical Management Consultants Daily“
A Partner of the Institute of Medical Business Advisors , Inc.
The Fed left its key interest rate unchanged again Wednesday and gave no hint it plans to lower it soon as President Donald Trump’s sweeping tariffs raise the risks of both another inflation spike and recession. But officials signaled they’re growing increasingly concerned about both hazards.
Netflix rose 1.56% after the streamerrevamped its homepage and rolled out new AI search tools.
Nvidia popped 3.10% on news that President Trump will rescind Biden-era global chip curbs.
Advanced Micro Devices rose just 1.76% despite the chipmaker beating earnings and forecasting solid growth ahead.
Lions Gate Entertainment soared 20.77% after it finalized the separation of its studio and STARZ business segments into two distinct companies.
Logitech rose 1.46% thanks to an upgrade from UBS analysts who say the device maker is well-positioned to capitalize on Gen Alpha, 94% of whom play video games.
Charles River Laboratories popped 18.81% after the pharmaceutical company raised its full-year guidance above Wall Street’s expectations.
Rockwell Automation gained 11.90% on a beat-and-raise quarter thanks to higher demand for domestic manufacturing.
What’s down
Super Micro Computer fell 1.40% after the AI server maker missed on revenue last quarter and forecast slower revenue growth this quarter.
WW International, better known as Weight Watchers, plummeted 43.04% on the news that the company is going bankrupt.
Marvell Technology plunged 8.02% after the data storage manufacturer postponed its investor day—never a good sign.
Rivian Automotive tumbled 5.78% on management’s forecast that vehicle deliveries will be lower than expected this year.
Arista Networks beat Wall Street’s estimates but fell 4.76% after it warned that its margins will be squeezed in the coming quarters.
Sarepta Therapeutics plummeted 21.45% after posting a bigger-than-expected loss last quarter and projecting slower revenue growth this quarter.
Posted on May 6, 2025 by Dr. David Edward Marcinko MBA MEd CMP™
MEDICAL EXECUTIVE-POST–TODAY’SNEWSLETTERBRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
“Serving Almost One Million Doctors, Financial Advisors and Medical Management Consultants Daily“
A Partner of the Institute of Medical Business Advisors , Inc.
Aetna is waving goodbye to the ACA marketplace. Executives announced during CVS Health’s Q1 2025 earnings call on May 1 that the insurance giant is withdrawing from the individual marketplace created under the Affordable Care Act, as the company expects to lose as much as $400 million from that part of the business in 2025.
Stocks sank a bit today while investors remain in wait-and-see mode. All eyes are on Jerome Powell & Co. this Wednesday: The market thinks the Fed will stay put until June, while some pros think the next rate cut will be in July.
Among the major indexes, the Dow Jones industrials fared best, though it was only up 0.1%. McDonald’s and UnitedHealth led blue chips with gains of more than 1%. Apple lagged most, dropping 2.6%. Chevron skidded more than 2%. The NASDAQ composite fell 0.4%. Trade Desk outperformed here, rallying more than 3%, while Charter Communications and Fortinet each rose nearly 3%. Meanwhile, On Semiconductor and Grail lagged, diving more than 8% and 4%, respectively. The S&P 500 dropped 0.4%. The benchmark index’s sectors were mixed, but with a slight downside bias. Energy and consumer discretionary were getting hit the hardest. Industrials and consumer staples made the best gains.
Skechers exploded 24.35% after the footwear retailer inked a deal with 3G Capital to go private.
Electronic Arts climbed 2.41% on the news that it has teamed up with Major League Soccer to offer four matches via its mobile gaming platform this year.
United Airlines rose 1.07% despite its announcement that it’s cutting some flights out of Newark, New Jersey, where apparently flying is terrible.
Howard Hughes Holdings gained 2.81% thanks to a $900 million investment in the real estate company from Bill Ackman’s Pershing Square.
What’s down
Sunoco sank 5.64% on the oil & gas company’s plans to acquire Canadian gas station chain Parkland Corporation for $9.1 billion.
Shell fell 2.28% on reports that the company is considering ways to acquire rival BP.
ON Semiconductor lost 8.35% despite outpacing analysts’ estimates on both the top and bottom lines, as shareholders focused on warnings of weaker demand.
Tyson Foods fell 7.75% after the meat giant missed sales estimates and warned revenue will remain flat in the coming year.
Loews may have beaten analysts’ estimates on revenue, but the luxury hospitality stock still fell 1.77% after missing on profits.
Wolfspeed, which is a company name we will never get tired of writing, gave up another 8.52% following a wild short squeeze last week.
Posted on April 18, 2025 by Dr. David Edward Marcinko MBA MEd CMP™
MEDICAL EXECUTIVE-POST–TODAY’SNEWSLETTERBRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
“Serving Almost One Million Doctors, Financial Advisors and Medical Management Consultants Daily“
A Partner of the Institute of Medical Business Advisors , Inc.
Stocks ended the shortened trading week on a mixed note.
The Dow sank all day long, while the NASDAQ and S&P 500 struggled to stay out of negative territory. The S&P 500 squeaked by with a win, but the NASDAQ fell into the red just before the closing bell.
The WSJ reported that President Trump has explored firing Jerome Powell for months now. “If I want him out he’ll be out of there real fast, believe me,” Trump told reporters at the White House today.
Posted on April 5, 2025 by Dr. David Edward Marcinko MBA MEd CMP™
MEDICAL EXECUTIVE-POST–TODAY’SNEWSLETTERBRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
“Serving Almost One Million Doctors, Financial Advisors and Medical Management Consultants Daily“
A Partner of the Institute of Medical Business Advisors , Inc.
Microsoft is reportedly pulling back on data center projects around the world as it reexamines its AI plans. Hershey reportedly bought the popcorn brand LesserEvil for $750 million.
US stocks cratered on Friday with the Dow Jones Industrial Average (^DJI) plunging more than 2,200 points after China stoked trade-war fears and Fed Chair Jerome Powell warned of higher inflation and slower growth stemming from tariffs.
The Dow pulled back 5.5% to enter into correction territory. Meanwhile, the S&P 500 (^GSPC) sank nearly 6%, as the broad-based benchmark capped its worst week since 2020. The tech-heavy NASDAQ Composite (^IXIC) dropped 5.8% to close in bear market territory.
Posted on March 11, 2025 by Dr. David Edward Marcinko MBA MEd CMP™
MEDICAL EXECUTIVE-POST–TODAY’SNEWSLETTERBRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
“Serving Almost One Million Doctors, Financial Advisors and Medical Management Consultants Daily“
A Partner of the Institute of Medical Business Advisors , Inc.
US stocks plunged on Monday as investors processed growing concerns about the health of the US economy after President Trump and his top economic officials acknowledged the possibility of a potential rough patch.
The Dow Jones Industrial Average (^DJI) fell nearly 900 points, or over 2%, while the benchmark S&P 500 (^GSPC) dropped around 2.7% after the index posted its worst week since September. The tech-heavy NASDAQ Composite (^IXIC) fell 4% in its worst day since 2022, as the “Magnificent Seven” stocks led the sell-off. Tesla’s (TSLA) rout continued, plunging 15% and officially wiping out the gains it had made in the wake of Trump’s election win. Nvidia (NVDA), Apple (AAPL), Google parent Alphabet (GOOG), and Meta (META) all each lost more than 4%.
Key inflation data includes the Consumer Price Index (CPI) and Producer Price Index (PPI) on Wednesday and Thursday could help set the tone, though economic growth concerns seem to have replaced inflation as the prime concern. The S&P 500 index (SPX) dropped more than 3% last week, the worst performance since September.
However, the U.S. economy “is in a good place” despite recent policy uncertainty, Federal Reserve Chairman Jerome Powell said Friday. He sees no need to hurry rate cuts until there’s more policy clarity, Bloomberg reported. Stocks rallied on Powell’s words late Friday, but Monday’s early action indicates that rallies continue being sold, and the Cboe Volatility Index (VIX) rose above 26 as investors piled into risk-off assets like bonds. The 200-day moving average of 5,734 for the SPX remains a key technical support area, and the SPX was on pace to open below that Monday, now more than 6% off of all-time highs but not yet in –10% correction territory.
Posted on February 12, 2025 by Dr. David Edward Marcinko MBA MEd CMP™
MEDICAL EXECUTIVE-POST–TODAY’SNEWSLETTERBRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
“Serving Almost One Million Doctors, Financial Advisors and Medical Management Consultants Daily“
A Partner of the Institute of Medical Business Advisors , Inc.
Blue Cross Blue Shield will soon begin paying out $2.67 billion to customers follow a years-long lawsuit alleging that the health insurance giant broke antitrust laws. The litigation began in 2013, when a class-action lawsuit was filed against more than 35 Blue Cross Blue Shield health insurance plans. The lawsuit claims the company broke antitrust laws by limiting market competition, resulting in increased premiums and reduced options for customers.
US stocks closed mixed on Tuesday as investors assessed more tariff policy shifts from President Donald Trump and looked ahead to upcoming inflation data.
Traders also digested the start of Federal Chair Jerome Powell’s two-day testimony in Congress. In his opening remarks, Powell told lawmakers the Fed is not in a rush to adjust interest rates and reiterated the central bank’s stance of not commenting on trade policy.
The Dow Jones Industrial Average (^DJI) edged around 0.3% higher, while the benchmark S&P 500 (^GSPC) closed just above the flatline. The tech-heavy NASDAQ Composite (^IXIC) pulled back about 0.4%.
Posted on January 30, 2025 by Dr. David Edward Marcinko MBA MEd CMP™
MEDICAL EXECUTIVE-POST–TODAY’SNEWSLETTERBRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
“Serving Almost One Million Doctors, Financial Advisors and Medical Management Consultants Daily“
A Partner of the Institute of Medical Business Advisors , Inc.
Over half the US population was affected by the Change Healthcare cyberattack last February, according to a statement from its parent company UnitedHealth Group. While United had told the federal government in October that 100 million people were hit by the attacks, an updated estimate on Monday put that number at 190 million.
The tech-heavy NASDAQ Composite (^IXIC) was down about 0.5%, retracing some of a bounce-back rally on Tuesday. The S&P 500 (^GSPC) was also down nearly 0.5%, while the Dow Jones Industrial Average (^DJI) lost 0.3%. In its statement on Wednesday, the Federal Reserve notably removed language from its December statement indicating that it was making progress towards its goal of 2% inflation, stating simply: “Inflation remains somewhat elevated.” Fed Chair Jerome Powell pushed back on that notion, referring to the change as “language cleanup” rather than intending to send a signal. Markets bounced off their lows of the day on Powell’s comments.
Posted on August 1, 2024 by Dr. David Edward Marcinko MBA MEd CMP™
Jerome Powell says September rate cut could be “on the table”
By Staff Reporters
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Jerome Powell isn’t known for being direct, but he made an exception yesterday, saying an interest rate cut could come “as soon as the next meeting” in September after the FOMC kept rates steady at the two-decade high they’ve been at since last July.
“We’re getting closer to the point at which it’ll be appropriate to reduce our policy rate,” he said. “But we’re not quite at that point.”
It’s a change from Powell’s other recent statements, which were hazier on the timing, though he did say the decision to cut rates still depends on inflation continuing to cool.
Posted on March 8, 2024 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Stocks surged yesterday, once again pushing the S&P 500 and NASDAQ to record highs, after Fed Chair Jerome Powell said he expects interest rates to come down this year. It was also a big day for Rivian which zoomed 13% after it revealed three new vehicles.
Here’s where the major benchmarks ended:
The S&P 500 index rallied 52.60 points (1.0%) to 5,157.36; the Dow Jones Industrial Average gained 130.30 points (0.3%) to 38,791.35; the NASDAQ Composite climbed 241.83 points (1.5%) to 16,273.38.
The 10-year Treasury note yield (TNX) lost almost 2 basis points to 4.085%.
The CBOE Volatility Index® (VIX) fell 0.06 to 14.44.
Chip-maker strength boosted the Philadelphia Semiconductor Index (SOX) 3.4% to its fourth record close in the past five trading days. The index has gained 9.3% so far this month and 24% for the year. Oilfield services and communication services companies were also among the market’s strongest sectors. Small-cap shares joined the rally, boosting the Russell 2000® Index (RUT) 0.8% to a two-year high.
In other markets, the U.S. dollar index (DXY) slipped 0.5%, its fifth consecutive daily decline, and touched a five-week low. The dollar has been under pressure from expectations for lower U.S. interest rates.
The final FOMC meeting of the year will take place this week, and like most work meetings in mid-December, not a whole lot is going to happen. Chair Jerome Powell is widely expected to leave interest rates unchanged as inflation continues its descent to a 2% target. But 2024 planning is in full swing, and investors are desperate to learn when the Federal Reserve thinks it will need to cut rates next year.
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Here is where the major stock index benchmarks ended:
The S&P 500 index was up 18.07 points (0.4%) at 4,622.44; the Dow Jones Industrial Average® (DJI) was up 157.06 points (0.4%) at 36,404.93; the NASDAQ Composite was up 28.51 points (0.2%) at 14,432.49.
The 10-year Treasury note yield (TNX) was little-changed at 4.239%.
The CBOE® Volatility Index (VIX) was up 0.28 at 12.63.
In addition to retailers, semiconductor company shares also posted outsized gains Monday, boosted in part by a jump of nearly 10% in Broadcom (AVGO). The Philadelphia Semiconductor Index (SOX) gained more than 3% and ended near a two-year high. Transportation companies were also strong.
In other markets, Natural Gas futures (/NG) plunged more than 6% to a six-month low, reflecting warmer-than-normal U.S. temperatures and excess supplies.
Finally, the so-called Magnificent Seven stocks of Apple, Microsoft, Alphabet, Amazon.com, Nvidia, Tesla and Meta Platforms each fell at least 0.8%. Meta led the declines, dropping 2.2%. But only one out of 11 S&P 500 sectors fell. Even the information technology sub-index ticked higher, reflecting gains outside of the largest companies in the sector.
Posted on December 3, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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With the Fed’s aggressive rate hikes to curb inflation looking like they’ve finally come to an end thanks to encouraging data on prices falling, investors are starting to look forward to when the central bankers start slashing rates again.
But Jerome Powell sought to pour some cold water on the rate cut hype cycle during a speech at Spelman College in Atlanta, Georgia yesterday, saying that it was too soon “to speculate on when policy might ease.” However, investors still think he’ll come around: Markets are putting the odds that the Fed will cut rates in March above 50% and are totally convinced it’ll happen by May, according to Bloomberg.
Posted on October 20, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Bond yields, which impact borrowing costs for all kinds of loan products, moved higher this week as investors fretted over higher-for-longer interest rates. After notching a 16-year-record earlier this month, the yield on the 10-year Treasury bond continued to surge on Thursday, rising to 4.958%.
The S&P 500 Index was down 36.60 points (0.9%) at 4,278.00; the Dow Jones Industrial Average (DJI) was down 250.91 points (0.8%) at 33,414.17; the NASDAQ Composite was down 128.13 points (1.0%) at 13,186.18.
The 10-year Treasury note yield was up about 9 basis points at 4.988%.
CBOE’s Volatility Index (VIX) was up 2.09 at 21.31.
Powell’s speech and Treasury yields at least partly overshadowed earnings reports from a few major companies, including Netflix (NFLX), whose shares soared 16% after the company reported stronger-than-expected quarterly results.
Otherwise, most areas of the market eroded, with consumer discretionary and real estate among the weakest-performing sectors. Energy shares held up somewhat better as crude oil futures rose for the fifth day in the past six and ended near a three-week high above $89 a barrel.
Gold futures jumped 1% and closed near a three-month high.
Markets: Stocks ended mixed yesterday after Jerome Powell (and other major central bankers around the world) signaled that more interest rate hikes are as inevitable. In fact, Jerome Powell hinted he couldn’t rule out two rate raises in a row.
Stock spotlight: AI-chip hero Nvidia fell on reports that the US is considering even more restrictions on chip exports to China.
Posted on June 12, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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The US economy remains “very, very hot,” though not as much as it was six to 12 months ago, said former Treasury Secretary Lawrence Summers. “The United States is, today, an underlying 4.5-5% inflation country,” Summers said, speaking via video link at the start of the two-day Caixin Asia New Vision Forum in Singapore. At the same time, soft landings “represent the triumph of hope over experience,” and commercial real estate is one area where there are likely to be “pockets of distress,” said Professor Summers of Harvard University.
At its meeting this week, the Federal Reserve is expected to do something it hasn’t done in the last 15 months: not raise interest rates. Chair Jerome Powell suggested it might be time to take a breather as a series of rate hikes filters through the economy.
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Last week, the S&P 500 reached its fourth consecutive winning week and the NASDAQ seventh as investors find fewer things to be worried about. In a sign of that cautious optimism, Goldman Sachs slashed its probability of a recession in the next year from 35% to 25%.
Crypto: SEC Chair Gary Gensler dramatically escalated his war on crypto-currency last week, and prices took a big hit. Four of the 10 most valuable cryptocurrencies fell by at least 15%, per CoinMarketCap.
Posted on February 8, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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U.S. equities finished higher after whipsawing in the wake of comments from Federal Reserve Chair Powell. The Chairman spoke at the Economic Club in Washington D.C. today, saying that disinflation has begun, but interest rate increases would likely continue. The moves came as the markets were looking for more insight regarding monetary policy, but all-in-all Powell’s remarks appeared to offer little in the way of new information on the Fed’s path forward.
And, the economic calendar was fairly light as data on the trade balance showed that the deficit widened at a slower pace than expected, while consumer credit expanded by a smaller-than-expected amount in December. Earnings data continued to heat up, as Take-Two Interactive missed forecasts and warned that net bookings will be lower in the near term. Dupont, on the other hand, bested earnings estimates, but provided some disappointing guidance, while Hertz beat EPS forecasts and posted revenues that were in line with estimates.
Treasury yields were also higher, and the U.S. dollar ticked lower, while crude oil and gold prices traded to the upside.
Asian stocks were mixed and markets in Europe diverged following a rate hike from the Reserve Bank of Australia, and as global sentiment remained choppy amid heightened tensions between the U.S. and China.
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A frenzy over investing opportunities in artificial intelligence continues to benefit Baidu BIDU +12.18% with shares in the Chinese tech giant rallying Tuesday after the company revealed concrete plans to launch a chatbot to rival the likes of popular ChatGPT. It is known as ERNIE-bot.
American depository receipts of Baidu (ticker: BIDU) jumped 15% in pre-market trading on Tuesday, bringing the 2023 gain for the shares above 20%. The stock’s latest jump higher comes as Baidu detailed plans to launch an artificial intelligence chatbot in the coming months, confirming media reports that had telegraphed the move.