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14 Stories We are Following Today 11-11-22

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    1. Thrilled to see the markets surge higher yesterday. The Nasdaq jumped 7.4%, the S&P 500 rose 5.5%, and the Dow rose 3.7%.

    2. The markets responded to inflation coming in less than expected and to perceptions the Fed will be able to slow their raising of rates sooner rather than later.

    3. Treasury yields fell. The 10 year dropped nearly 32 basis points to 3.81. The 1 year fell back to 4.66.

    4. The markets open reletively flat this AM.

    5. Bitcoin is tanking this AM. FTX remains a debacle. See “Silicon Valley Poured Money into FTX, with Few Strings Attached” – WSJ.

    In the last hour, Bitcoin has dropped significantly and FTX has filed for bankruptcy.

    6. Oil is close to $90 a barrel.

    7. China is easing its covid policy which also gave markets hope regarding supply chain and inflation. See “China Eases Zero Covid Rules as Economic Toll and Frustrations Mount” – WSJ.

    8. See Yahoo Finance “How Meta Went from a Trillion Dollar Company to Mass Layoffs.”

    9. Time in the market not timing the market is today’s podcast theme at Becker Private Equity & Business Podcast.

    10. Great to interview Michael Rasbury of Phreesia on Wednesday and Tomasz Beer of Exact Sciences yesterday for the Becker’s Healthcare podcast. Dr. Beer discussed multi cancer early detection efforts. Michael discussed clarity on success in working with technology vendors, support systems, and more. Thank you to Megan Zenner and Lauren Farley. for helping produce in the middle of your great work at the Conference. You deserve a break today.

    11. See “Amazon Reviewing Unprofitable Business Units to Cut Costs” – Reuters.

    12. Great to visit with an amazing panel yesterday on competition with Clay Holderman of UnityPoint Health, Peter Banko of Centura Health, and Randolph Siwabessy of UCI Health. This was at Becker’s Healthcare CEO Roundtable.

    Also a great session on virtual care and hybrid care and the future with Bob Dahl, Anand Popli, Philip Schaefer, and Vince DiBattista. Truly a fantastic panel.

    13. See “Senate is a Toss Up as Republicans Inch Towards House Majority” – WSJ. Fascinating to see how evenly split the country is. Amazing to try and assess what 2024 will look like.

    Personally, I hate when the Democrats or the Republicans use the house judiciary powers to target political opponents and I hope the Republicans, if they win the house, will be able to restrain themselves from this. Some are already pushing for Hunter Biden investigations. While there may be something there, what a huge distraction this constant practice has become on both sides, and it seems like the epitome of using government power for political gain. I hate when either party does it.

    14. See ” Federal Judge Strikes Down Biden’s Student Debt Forgiveness Plan? – WSJ. The judge essentially said that the action is one that requires congressional approval. The opinion stated, “The plan is an unconstitutional exercise of Congress’s legislative power” that also failed to go through normal regulatory processes.”

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