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MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING

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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

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• When S&P downgraded the US’ credit rating in August 2011, it sparked the worst one-day decline in US stocks since the Great Financial Crisis. Today was the first day of trading after Moody’s downgraded the US’ credit rating, and while stocks sank at the open, they recovered a lot of lost ground after investors decided to buy the dip.
• The downgrade pushed yields on 30-year Treasury bonds above 5% at the open, while 10-year yields rose to 4.55% at one point. But yields on both notes fell throughout the afternoon as buyers crept back into the bond market.
• Gold was the big winner today as investors sought safety, while the CBOE Volatility Index, or VIX, popped higher.

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

🟢 What’s up

• Investors largely shrugged at Nvidia’s many announcements today, including the ability for customers to use non-Nvidia chips in Nvidia products. Shares rose just 0.13%.
• UnitedHealth Group posted a 8.18% gain as investors turned their attention to the suddenly cheap health insurance giant.
• Novavax exploded 15.01% higher thanks to the FDA’s approval of its new Covid-19 vaccine.
• TXNM Energy popped 6.98% to an all-time high on the announcement that Blackstone will acquire the power provider for $11.5 billion.

What’s down

• Tesla tumbled 2.25% after Chinese tech giant Xiaomi announced it will debut its Yu7 sports utility vehicle, a clear Tesla challenger in a key market, on Thursday.
• Walmart lost 0.12% after Treasury Secretary Scott Bessent met with company leadership to discuss how the retailer could “eat the tariffs.”
• Bath & Body Works sank 0.56% after the retailer named former Nike exec Daniel Heaf as its new CEO effective immediately.
• Reddit fell 4.63% due to a downgrade from Wells Fargo analysts who think the social media platform will lose search traffic to Google AI.
• Diageo is down 0.69% after the maker of Johnnie Walker whiskey said it will take an annual tariff hit of $150 million.
• Alibaba dropped 0.40% on a New York Times report that the Trump Administration is concerned with Apple’s plan to use Alibaba AI on its iPhones.
• JPMorgan fell 1% as shareholders at the bank’s investment division grapple with CEO Jamie Dimon’s departure.
• Solar stocks sank after the Republican tax and spending bill moved forward with a commitment to end clean energy tax credits earlier than planned. First Solar fell 7.59%, SunRun lost 7.84%, and AES lost 4.10%.

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Regeneron Pharmaceuticals will buy 23andMe for $256 million.

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

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Filed under: Alternative Investments, Drugs and Pharma, Information Technology, Investing, Marcinko Associates | Tagged: 23andMe, bonds, books, CBOE, DJIA, DOW, FTC, gold, Marcinko, Moody's, NASDAQ, Regeneron, S&P 500, textbooks, TNX, VIX | Leave a comment »