S&P 500 & Healthcare Stocks Claw Back On September 1 – $AAPL $DIS $FATE $INM $NUTX $TSLA Rise!

Welcome to September!

I hope that you had a great first day of the new month.  As for the stock market, Thursday’s session was interesting as it started out dropping quite significantly and indiscriminately, but then it began to turn about 10 am pacific and even brought both the S&P 500 and the Dow back to close in the green.  On the NYSE the decliners outpaced advancers 5-2 and & on the Nasdaq they closed with a 5-3 margin in favor of the decliners was well. It was a rather busy day on the macroeconomic report front with the August ISM Manufacturing Index report showing that it came in flat from July at 52.8%. The IHS Markit Manufacturing PMI report also confirmed that it moved up to 51.5 in the final reading for August. Note that the July’s final reading clocked in at 52.2. The Initial claims report for the week ending August 27  also showed a 5k drop to 232k. The continuing jobless claims report for the week ending August 20 also showed a 26k rise to 1.438M.  The Q2 productivity report confirmed a solid 4.1% decline, however unit labor costs rose 10.2%. The total construction spending report showed a .4%M/M drop in July, while the total private construction report confirmed a .8% M/M decline. Total public construction rose 1.5%. Now, on a Y/Y basis, total construction spending jumped 8.5%. Lastly, the weekly natural gas inventories report showed 61 bcf rise. Oil prices continued to pull back further by 3.3% to close at $86.45/bbl and hopefully headed back to the $60-$80 range. The US treasury yield curve rose today and remained inverted as the 10-yr moved up 14 basis points to close at 3.27% & the 2-yr note moved up 8 basis points to close at 3.52%.

In turn, the major indices split their results to a degree today. The S&P 500 closed at 3,966.85 (+.30%) with 8 of the 11 sectors closing in the green, while only the energy sector (-2.3%), the materials sector (-1.4%), & information technology sector (-0.5%) closed in the red. The health care sector led all sectors with a +1.7% gain. The Dow also ended the session at 31,656.42 (+.46%) as Dow component and tech giant Apple (AAPL) provided strength and edged upward into the close by .47% to close at $157.96.  The growth oriented and tech heavy Nasdaq could not muster enough strength, but fought back and closed at 11,785.13 (-.26%) as it was widely reported that chipmaker Nvidia (NVDA, -7.67%) was ordered by U.S. officials to halt sales to China of two of its top computing chips used for artificial intelligence. It is estimated that NVDA will lose ~$400M in potential China sales as a result.  The small caps on the Russell 2000 continued to drop and closed at 1,821.38 (-1.23%) as growth oriented issuers were out of favor overall. However, Biotech stocks closed in positive territory for a second day in row as the SPDR S&P Biotech ETF (XBI) rose 2.17% to close at $85.52. The 52-wk range is $61.78 – $136.61. The iShares Biotechnology ETF (IBB) moved up nicely too to close at $123.22, +1.45%. The 52-range is $104.29 – $176.02. A decent measure of the markets volatility or the CBOE Volatility Index (^VIX) closed at $25.56, -1.20%, but remains above the important $25 level and traded within the range of $25.25 – $27.45. 

Around the money and precious metals’ tree, the U.S. Dollar Index moved up to a new extraordinary high level and closed at 109.68,+.90%, while Bitcoin (BTC) fell to $20,026.26, -.86% over the last 24-hours at the time of this writing. Gold prices closed at $1,701/oz., -$16/oz. & silver closed at $17.84/oz., down $..15/oz. on the day. Two mining producers closed the day as follows: Hecla Mining Company (HL) closed at $3.75, -4.82% and First Majestic Silver Corp. (AG) closed at $7.00, -3.85%. On Aug. 8, First Majestic announced the release of its 2021 Sustainability Report summarizing the Company’s Environmental, Social and Governance (“ESG”) performance. The Sustainability Report and the Company’s performance indicators follow the Global Reporting Initiative and Sustainability Accounting Standards Board metrics. The report is available for review under the Corporate Responsibility section of First Majestic’s website (www.firstmajestic.com). “In 2021, First Majestic achieved record production of 26.9 million silver equivalent ounces representing a 32% increase compared to the previous year. This record was in part due to our focus on responsible and sustainable mining integrated with our vision to become the world’s largest primary silver producer,” stated Keith Neumeyer, President and CEO. “I strongly believe that our efforts in 2021 demonstrated our commitment to sustainability and to improving lives and communities in our host regions while increasing shareholder value, as well as driving positive changes for society and delivering long-term benefits for all First Majestic stakeholders.”

 

 

On Aug. 25th, Atossa’s CEO, Dr. Steven Quay, M.D., Ph.D., and Kyle Guse, GC & CFO presented at Tribe Public’s Webinar Presentation and Q&A Event. During this complimentary event, Atossa management spoke of new opportunities for its inhalation therapy, AT-H201, to potentially treat lung injury caused by cancer treatment and were available for a Q&A session focused on Atossa’s research programs and future development. To watch the event video titled “The Important Role For Inhalation Therapy In Oncology” please visit the Tribe Public YouTube Channel. 

Economic Reports

On Tuesday, the Conference Board’s Consumer Confidence Index report closed up to 103.2 in August. The July JOLTS Job Openings report came in totaling 11.239M. The June FHFA Housing Price Index report showed .1% upward tick. The June S&P Case-Shiller Home Price Index report moved up 18.6%

On Wednesday, the Weekly MBA Mortgage Applications Index report that confirmed a 3.7% drop. The August ADP Employment Change Report also reflected that an estimated 132k employees were added to private sector payrolls. The August Chicago PMI report clocked in at 52.2 & the Weekly EIA Crude Oil Inventories report confirmed a 3.33M barrel draw. Oil prices sank further by 2.4% to close at $89.41/bbl. However, the US treasury yield curve remained inverted as the 10-yr moved up 2 basis points to close at 3.13% & the 2-yr note dropped 2 basis points to close at 3.44%.

On Thursday, the August ISM Manufacturing Index report showed that it can in flat from July at 52.8%. The IHS Markit Manufacturing PMI report also confirmed that it moved up to 51.5 in the final reading for August. Note that the July’s final reading clocked in at 52.2. The Initial claims report for the week ending August 27 also showed a 5k drop to 232k. The continuing jobless claims report for the week ending August 20 also showed a 26k rise to 1.438M. The Q2 productivity report confirmed a solid 4.1% decline, however unit labor costs rose 10.2%. The total construction spending report showed a .4%M/M drop in July, while the total private construction report confirmed a .8% M/M decline. Total public construction rose 1.5%. Now, on a Y/Y basis, total construction spending jumped 8.5%. Lastly, the weekly natural gas inventories report showed 61 bcf rise. 

Investing & Inspiration

1. “Experience is one thing you can’t get for nothing.” – Oscar Wilde

2. “Any sufficiently advanced technology is indistinguishable from magic.” – Arthur C. Clarke

3. “Good questions outrank easy answers.” – Paul Samuelson

4. “Thinking: the talking of the soul with itself.” – Plato

5. “I don’t think of all the misery but of the beauty that still remains.” – Anne Frank

6. “All money is a matter of belief.” – Adam Smith

7. “People are not disturbed by things, but by the view they take of them.” – Epictetus

8. “Uncertainty is seen to retard investment independently of considerations of risk or expected return.” – Ben Bernanke

9. “I never called my work an ‘art’. It’s part of show business, the business of building entertainment.” – Walt Disney

10. “Hitch your wagon to a star.” – Ralph Waldo Emerson

11. “The greatest remedy for anger is delay.” – Lucius Annaeus Seneca

12. “Great minds discuss ideas; average minds discuss events; small minds discuss people.” – Eleanor Roosevelt

13. “Act as if what you do makes a difference. It does.” – William James

14. “Success – keeping your mind awake and your desire asleep.” – Walter Scott

15. “If I had to live my life again, I’d make the same mistakes, only sooner.” – Tallulah Bankhead

16. “When one must, one can.” – Charlotte Whitton

17. “Wealth consists not in having great possessions, but in having few wants.” – Epictetus
18. “If we open a quarrel between past and present, we shall find that we have lost the future.” – Winston Churchill
19. “Hope is patience with the lamp lit.” – Tertullian
20. “A single sunbeam is enough to drive away many shadows.” – Francis of Assisi
21. “With the past, I have nothing to do; nor with the future. I live now.” – Ralph Waldo Emerson
22. “Laziness may appear attractive, but work gives satisfaction.” – Anne Frank

23. “I never think of the future – it comes soon enough.” – Albert Einstein

24. Hope is but the dream of those who wake.” – Matthew Prior

25. “The more sand that has escaped from the hourglass of our life, the clearer we should see through it.” – Jean Paul
26. “Real knowledge is to know the extent of one’s ignorance.” – Confucius

27. “Better keep yourself clean and bright; you are the window through which you must see the world.” – George Bernard Shaw

28. “Nothing great in the world has ever been accomplished without passion.” – Georg Wilhelm Friedrich Hegel

29. “History is a vast early warning system.” – Norman Cousins 

30. “We first make our habits, and then our habits make us.” – John Dryden

31. “The traveler sees what he sees, the tourist sees what he has come to see.” – Gilbert K. Chesterton
32. “Adventure is worthwhile.” – Aesop
33. “We must build dikes of courage to hold back the flood of fear.” – Martin Luther King, Jr.
34. “The return we reap from generous actions is not always evident.” – Francesco Guicciardini

35. “Courage is knowing what not to fear.” – Plato

36. “Science may never come up with a better office communication system than the coffee break.” – Earl Wilson

37. “Progress was all right. Only it went on too long.” – James Thurber

38. “If you would know strength and patience, welcome the company of trees.” – Hal Borland

39. “We aim above the mark to hit the mark.” – Ralph Waldo Emerson

40. “Hope is being able to see that there is light despite all of the darkness.” – Desmond Tutu

41. “Our chief want is someone who will inspire us to be what we know we could be.” – Ralph Waldo Emerson

42. “Patience is a virtue, and I’m learning patience. It’s a tough lesson.” – Elon Musk

43. “Great things are done when men and mountains meet.” – William Blake

44. “The man who has no imagination has no wings.” – Muhammad Ali

45. “Formula for success: rise early, work hard, strike oil.” – J. Paul Getty

46. “Action is the foundational key to all success.” – Pablo Picasso

47. “Hope is like the sun, which, as we journey toward it, casts the shadow of our burden behind us.” – Samuel Smiles

    “The backbone of surprise is fusing speed with secrecy.” – Carl von Clausewitz

48. “There are no shortcuts in evolution.” – Louis D. Brandeis

49. “I am fascinated by what is beautiful, strong, healthy, what is living. I seek harmony.” – Leni Riefenstahl
50. “If one advances confidently in the direction of his dreams, and endeavors to live the life which he has imagined, he will meet with a success unexpected in common hours.” – Henry David Thoreau
51. “Waste no more time arguing about what a good man should be. Be one.” – Marcus Aurelius
52. “It is during our darkest moments that we must focus to see the light.” – Aristotle Onassis
53. “Courage is fear holding on a minute longer.” – George S. Patton
54. “You must be the change you wish to see in the world.” – Mahatma Gandhi
55. “Don’t judge each day by the harvest you reap but by the seeds that you plant.” – Robert Louis Stevenson 
56. “It is in the character of very few men to honor without envy a friend who has prospered.” – Aeschylus
57. “Life is a series of natural and spontaneous changes. Don’t resist them – that only creates sorrow. Let reality be reality. Let things flow naturally forward in whatever way they like.” – Lao Tzu
58. “The more you praise and celebrate your life, the more there is in life to celebrate.” – Oprah Winfrey
59. “Anything simple always interests me.” – David Hockney
60. “He who angers you conquers you.” – Elizabeth Kenny
61. “Concision in style, precision in thought, decision in life.” – Victor Hugo
62. “The secret of genius is to carry the spirit of the child into old age, which means never losing your enthusiasm.” – Aldous Huxley
63. “View health as an investment, not an expense.” – John Quelch
64. “The most effective way to do it, is to do it.” – Amelia Earhart
65. “Man needs his difficulties because they are necessary to enjoy success.” – A. P. J. Abdul Kalam
66. “Do not dwell in the past, do not dream of the future, concentrate the mind on the present moment.” – Buddha
67. “Nobody made a greater mistake than he who did nothing because he could do only a little.” – Edmund Burke
68. “You must do the things you think you cannot do.”- Eleanor Roosevelt
69. “Success is dependent on effort.” – Sophocles
70. “Nobody who ever gave his best regretted it.” – George Halas
71. “Lots of people want to ride with you in the limo, but what you want is someone who will take the bus with you when the limo breaks down.” ~ Oprah Winfrey
72. “And when I breathed, my breath was lightning.” – Black Elk
73. “Moderation is the silken string running through the pearl chain of all virtues.” – Joseph Hall
74. “You are the sum total of everything you’ve ever seen, heard, eaten, smelled, been told, forgot – it’s all there. Everything influences each of us, and because of that I try to make sure that my experiences are positive.” – Maya Angelou
75. “If you want a guarantee, buy a toaster.” – Clint Eastwood
76. “We are an impossibility in an impossible universe.” – Ray Bradbury
77. “If you think in terms of a year, plant a seed; if in terms of ten years, plant trees; if in terms of 100 years, teach the people.” – Confucius
78. “I’d rather attempt to do something great and fail than to attempt to do nothing and succeed.” – Robert H. Schuller
79. “Do your little bit of good where you are; it’s those little bits of good put together that overwhelm the world.” Desmond Tutu
80. “It takes considerable knowledge just to realize the extent of your own ignorance.” – Thomas Sowell
81. “Do not dwell in the past, do not dream of the future, concentrate the mind on the present moment.” – Buddha”
82. Surprise is the greatest gift which life can grant us.” –  Boris Pasternak
83. “Trust in dreams, for in them is hidden the gate to eternity.” – Khalil Gibran 
84. “Always be yourself, express yourself, have faith in yourself, do not go out and look for a successful personality and duplicate it.” – Bruce Lee
85. “All life is an experiment. The more experiments you make the better.” – Ralph Waldo Emerson
86. “There are no secrets to success. It is the result of preparation, hard work, and learning from failure.” –  Colin Powell
87. “There is more to life than increasing its speed.” – Mahatma Gandhi
88. “Your attitude is like a box of crayons that color your world. Constantly color your picture gray, and your picture will always be bleak. Try adding some bright colors to the picture by including humor, and your picture begins to lighten up.” – Allen Klein
89. “Definiteness of purpose is the starting point of all achievement.” – W. Clement Stone
90. “Success usually comes to those who are too busy to be looking for it.” – Henry David Thoreau
91. “In matters of truth and justice, there is no difference between large and small problems, for issues concerning the treatment of people are all the same.” – Albert Einstein
92. “Life is too short for long-term grudges.” – Elon Musk
93. “There cannot be a crisis next week. My schedule is already full.” – Henry Kissinger
94. “Success consists of getting up just one more time than you fall.” – Oliver Goldsmith
95. “The Earth is the cradle of humanity, but mankind cannot stay in the cradle forever.” – Konstantin Tsiolkovsky
96. “Ours is a world of nuclear giants and ethical infants. We know more about war that we know about peace, more about killing that we know about living.” – Omar N. Bradley
97. “Beauty surrounds us, but usually we need to be walking in a garden to know it.” – Rumi
98. “But man is not made for defeat. A man can be destroyed but not defeated.” – Ernest Hemingway
99. “Don’t watch the clock; do what it does. Keep going.” – Sam Levenson
100. “Let there be work, bread, water and salt for all.” – Nelson Mandela
101. “The social object of skilled investment should be to defeat the dark forces of time and ignorance which envelope our future.” – John Maynard Keynes
102. “A successful society is characterized by a rising living standard for its population, increasing investment in factories and basic infrastructure, and the generation of additional surplus, which is invested in generating new discoveries in science and technology.” – Robert Trout
103. “I know not with what weapons World War III will be fought, but World War IV will be fought with sticks and stones.” – Albert Einstein
104. “It is the fight alone that pleases us, not the victory.” – Blaise Pascal
105. “If you can’t describe what you are doing as a process, you don’t know what you’re doing.” – W. Edwards Deming
106. “Never interrupt your enemy when he is making a mistake.” – Napoleon Bonaparte
107. “Be sure you put your feet in the right place, then stand firm.” – Abraham Lincoln
108. “Without investment there will not be growth, and without growth there will not be employment.” – Muhtar Kent
109. “You have to do your own growing no matter how tall your grandfather was.” – Abraham Lincoln
110. “Victory has a thousand fathers, but defeat is an orphan.” – John F. Kennedy
111. “Delete the negative; accentuate the positive!” – Donna Karan
112. “It’s crazy how fast time flies and how things progress.” – Nathan Chen
113. “The world is a dangerous place to live; not because of the people who are evil, but because of the people who don’t do anything about it.” – Albert Einstein
114. “Life isn’t about finding yourself. Life is about creating yourself.” – George Bernard Shaw
115. “Everything has beauty, but not everyone sees it.” – Confucius
116. “A man must be big enough to admit his mistakes, smart enough to profit from them, and strong enough to correct them.” – John C. Maxwell
117. “Walking with a friend in the dark is better than walking alone in the light.” – Helen Keller
118. “A man who dares to waste one hour of time has not discovered the value of life.” – Charles Darwin
119. “The greater danger for most of us lies not in setting our aim too high and falling short; but in setting our aim too low, and achieving our mark.” – Michelangelo
120. “Progress is man’s ability to complicate simplicity.” – Thor Heyerdahl
121. “I like to encourage people to realize that any action is a good action if it’s proactive and there is positive intent behind it.” – Michael J. Fox
122. “Nothing is impossible, the word itself says ‘I’m possible’!” – Audrey Hepburn
123. “But investment in space stimulates society, it stimulates it economically, it stimulates it intellectually, and it gives us all passion.” – Bill Nye
124. “Bitcoin, in the short or even long term, may turn out be a good investment in the same way that anything that is rare can be considered valuable. Like baseball cards. Or a Picasso.” – Andrew Ross Sorkin
125. “Life is a tragedy when seen in close-up, but a comedy in long-shot.” – Charlie Chaplin
126. “No matter what you’re going through, there’s a light at the end of the tunnel and it may seem hard to get to it but you can do it and just keep working towards it and you’ll find the positive side of things.” – Demi Lovato
127. “Infrastructure investment in science is an investment in jobs, in health, in economic growth and environmental solutions.” – Oren Etzioni
128. “Educating our children and giving them the skills they need to compete in a global economy is a smart investment in our country’s future.” – Sheldon Whitehouse
129. “Know thy self, know thy enemy. A thousand battles, a thousand victories.” – Sun Tzu
130. “If one does not know to which port one is sailing, no wind is favorable.” – Lucius Annaeus Seneca
131. “Beware of missing chances; otherwise it may be altogether too late some day.” – Franz Liszt
132. “The sofa is a really important investment for anybody, and I don’t mean financially. You need to find a really great sofa that can transition with you, and you can build from there.” – Jeremiah Brent
133. “There is no investment you can make which will pay you so well as the effort to scatter sunshine and good cheer through your establishment.” – Orison Swett Marden
134. “Nothing in life is to be feared, it is only to be understood. Now is the time to understand more, so that we may fear less.” – Marie Curie
135. “There is little that can withstand a man who can conquer himself.” – Louis XIV
136. “In tennis, you strike a ball just after the rebound for the fastest return. It’s the same with investment.” – Masayoshi Son
137. “A camel makes an elephant feel like a jet plane.” – Jackie Kennedy
138. “The advance of technology is based on making it fit in so that you don’t really even notice it, so it’s part of everyday life.” – Bill Gates
139. “Success depends upon previous preparation, and without such preparation there is sure to be failure.” – Confucius, Chinese 
140. “Coming together is a beginning; keeping together is progress; working together is success.” – Edward Everett Hale
141. “Never do anything against conscience even if the state demands it.”– Albert Einstein
142. “Education is not only a ladder of opportunity, but it is also an investment in our future.” – Ed Markey
143. “The true measure of a man is how he treats someone who can do him absolutely no good.” – Samuel Johnson
144. “In my view, the biggest investment risk is not the volatility of prices, but whether you will suffer a permanent loss of capital. Not only is the mere drop in stock prices not risk, but it is an opportunity. Where else do you look for cheap stocks?” – Li Lu
145. “A successful society is characterized by a rising living standard for its population, increasing investment in factories and basic infrastructure, and the generation of additional surplus, which is invested in generating new discoveries in science and technology.” – Robert Trout
146. “The best preparation for tomorrow is doing your best today.” – H. Jackson Brown, Jr.
147. “Friendship marks a life even more deeply than love. Love risks degenerating into obsession, friendship is never anything but sharing.” – Elie Wiesel
148. “Investing in women’s lives is an investment in sustainable development, in human rights, in future generations – and consequently in our own long-term national interests.” – Liya Kebede
149. “Success isn’t measured by money or power or social rank. Success is measured by your discipline and inner peace.” – Mike Ditka
150. “No matter how many goals you have achieved, you must set your sights on a higher one.” – Jessica Savitch 
151. “Start where you are. Use what you have. Do what you can.”– Arthur Ashe
152. “The secret of getting ahead is getting started.” – Mark Twain
153. “The amount of work and the amount of both physical and emotional investment it takes to get to the top.” – Drew Bledsoe