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.

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

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)

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

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

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DAILY UPDATE: First Day of Winter as FedEx and the Stock Markets Crash!

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

HAPPY WINTER SOLSTICE

By Staff Reporters

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Astronomical winter begins at the winter solstice, which is the shortest day of the year. This means days get longer during winter—very slowly at first, but at ever-larger daily intervals as the March Equinox approaches, heralding the start of spring.

Locations closer to the poles experience larger differences in day length throughout the year, so winter days are shorter there. In Toronto, the shortest day is just under 8 hours and 56 minutes long; in Miami, roughly 2000 kilometers or 1200 miles farther south, it lasts about 10 hours and 32 minutes.

Places within the polar circles experience polar night during all or part of the winter season when the Sun does not rise at all.

Here is where the major benchmarks ended:

Here’s where the major benchmarks ended:

  • The S&P 500 index (SPX) was down 70.02 points (1.5%) at 4,698.35; the Dow Jones Industrial Average (DJI) was down 475.92 points (1.3%) at 37,082.00; the NASDAQ Composite® (COMP) was down 225.28 points (1.5%) at 14,777.94.
  • The 10-year Treasury note yield (TNX) was down about 6 basis points at 3.858%.
  • The CBOE® Volatility Index (VIX) was up 1.14 at 13.67.

Shares of semiconductors and banks were among the weakest performers Wednesday, giving back some recent gains after ranking among upside leaders during the recent rally.

Transportation shares also slumped behind weakness in FedEx. The Dow Jones Transportation Index (DJT) fell 1.5% and ended at its lowest level in a week. 

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DAILY UPDATE: Winter Solstice, Tele-Health, Retiree Withdrawal Rates, Crypto and the Markets

Posted on December 21, 2022 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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The Winter Solstice, or the December Solstice, is the point at which the path of the sun in the sky is farthest south. At the Winter Solstice, the sun travels the shortest path through the sky resulting in the day of the year with the least sunlight and therefore, the longest night.

Telehealth extension: Tucked in the new Congress’ spending bill is an extension of HHS rules that made telehealth more accessible during the pandemic. But the provision, which extends the flexibility through the end of 2024, falls far short of a push from some lawmakers who wanted to make that flexibility permanent.

Traditional guidance says not to spend more than 4% of your retirement savings in the first year to protect yourself from running out of money in your golden years. A new recommendation puts that figure at 3.8% with a 30-year time horizon, according to researchers at Morningstar Inc., a half-point higher than the 3.3% withdrawal they recommended in 2022 due to expectations for lower future investment returns. That means if you retire this year with a $640,000 portfolio invested 50% in stocks and 50% in bonds, you should take out no more than $24,320 in 2023.

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Following the downfall of Sam Bankman-Fried and FTX in November, cryptocurrency trading volumes plummeted 50%. Since last year, crypto’s market cap has lost nearly three-fourths of its value, with bitcoin and ethereum, both down nearly 75% from their record-highs in November of 2021.

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U.S. equities finished higher in choppy action, posting the first gains in four sessions, as investors digested a host of monetary policy decisions from central banks in Asia. The Bank of Japan and People’s Bank of China kept their respective benchmark interest rates unchanged, but the former surprisingly tweaked its yield curve control policy.

Equity news was on the light side today, as General Mills beat earnings estimates and raised its full-year guidance, and shares of Steel Dynamics gained ground after it was announced that it would replace ABIOMED in the S&P 500.

On the economic front, housing starts declined less than anticipated, while building permits fell much more than expectations. Treasury yields rose, particularly on the long end of the curve, while the U.S. dollar fell, crude oil prices saw a modest increase, and gold prices rallied.

Asian stocks finished broadly lower and market in Europe diverged amid the host of monetary policy decisions.

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