International MICE Summit (IMS) opening day delivers transformation, 19 announcements to drive event industry growth in the KingdomLondon Stock Exchange Loses Record Number Of Firms Since 2009 CrisisMajor stock indexes on Wall Street drifted to a mixed finish, capping a rare bumpy week for the market. The S&P 500 ended essentially flat, down less than 0.1 per cent, after wavering between tiny gains and losses most of the day. The benchmark index posted a loss for the week, its first after three straight weekly gains. There were more than twice as many decliners than gainers on the New York Stock Exchange. Credit: Bloomberg The Dow Jones slipped 0.2 per cent, while the Nasdaq composite rose 0.1 per cent, ending just below the record high it set on Wednesday. The Australian sharemarket is set to retreat, with futures pointing to a slide of 39 points, or 0.5 per cent, at the open. There were more than twice as many decliners than gainers on the New York Stock Exchange. Gains in technology stocks helped temper losses in communication services, financials and other sectors of the market. Loading Broadcom surged 24.4 per cent for the biggest gain in the S&P 500 after the semiconductor company beat Wall Street’s profit targets and gave a glowing forecast, highlighting its artificial intelligence products. The company also raised its dividend. The company’s big gain helped cushion the market’s broader fall. Pricey stock values for technology companies like Broadcom give the sector more weight in pushing the market higher or lower. Artificial intelligence technology has been a focal point for the technology sector and the overall stock market over the last year. Tech companies, and Wall Street, expect demand for AI to continue driving growth for semiconductor and other technology companies.
In a rapidly evolving global economy, higher education is seen to reduce unemployment by equipping students with essential job market skills. This shift is part of a broader global transformation with technology playing a key role in reshaping the framework across all sectors. Innovations in technology and the rise of automation have led to the shrinking of traditional jobs, compelling job seekers to adapt to the changing demands for new emerging roles by acquiring specialized skills. The scope of traditional academic degrees/programs is now seen as limited in terms of job opportunities, when compared to professional/technical courses. The NEP-2020 acknowledges this shift by prioritizing skill development as a key component of higher education. However, there are significant challenges related to curriculum relevance, industry needs and connect between academia and the job market. Over the last decade, universities and colleges in J&K have been witnessing a steady drop in student enrollment, which has now reached an alarming stage. To address this downturn and other challenges, we need to evaluate professional courses like engineering, medicine etc, analyze data/trends, assess job market demands, and gather insights from stakeholders. By doing so, we can identify effective strategies to revitalize student interest in pursuing higher education. Engineering and medicine are two professions that have held sway as popular choices for the students. Especially, in medical field, even in the face of job scarcity, the students travel to neighboring countries to pursue MBBS degrees. Medicine has been revered for its extensive education and training involved in becoming a doctor, which significantly enhances job prospects even in the private sector. Engineering is a discipline that involves the application of science, technology and mathematics to design, and maintain machines, structures, software, hardware and systems and processes. Given its diverse skill set involving practical solutions, it should ideally guarantee job opportunities. However, the profession is grappling with alarming unemployment issues akin to that in academia, which needs a careful study. In Mar 2019, a report by employability assessment company ‘ Aspiring Minds ’ revealed that over 80% Indian engineers are unemployable. Most of them are forced to take up jobs in non-engineering fields or remain unemployed. The primary reason cited was the candidates did not have adequate technological skills demanded by the employers. The report indicated that only 3.84 percent of engineers in the country have the technical, cognitive and linguistic skills required for software-related jobs. Over the years, India has witnessed a mushroom growth of engineering colleges with nearly 8,000 institutions including polytechnics and architecture schools. Amid this vast landscape with approximately 2,200 government-run engineering colleges, there are 80-prestigious technical institutions like IITs, NITs, IIITs, and BITS Pilani which stand out for their academic excellence, cutting-edge research and successful campus placements. These top-tier institutions play a pivotal role in shaping India’s technical workforce, contributing to its economic growth and innovation ecosystem. Known for their global competitiveness, these prestigious institutions remain the top choices for aspiring students to build successful careers in engineering and technology; they too face placement challenges. In April 2024, the Hindustan Times published a report highlighting the placements at IIT Bombay, ranking 3rd in the NIRF framework. Out of 2,000 students registered for placements, 712 (nearly 36%) are yet to find placements. The report said that all the companies were domestic with most of them were unable to accept salary packages pre-decided by the institute and it took many rounds of negotiations before they agreed to come over. The same type of situation exists in other IITs. One can easily imagine the situation of other engineering colleges in India, in particular those in Kashmir, where enrolments have been steadily declining. When IITians are struggling to find jobs, it raises serious concerns about the value/relevance of academic degrees like BA/BSc and MA/MSc, as well as the institutions offering them. Notably, the Universities of Kashmir and Jammu stand at 69th and 87th in NIRF ranking respectively. Many students, after graduation, turn to competitive exams like civil services, SSC/banking, etc. However, there are limited vacancies with an overwhelming number of candidates, leaving a large number still unemployed. Those aspiring to join academia have to pursue PG/PhD, qualify for NET/SLET, and wait for long openings. If a PhD holder is selling dry fruit or taking up a menial job, it raises questions about the quality of PhDs or saturation in placement opportunities. At a conference, the then MHRD Minister Prakash Javadekar in 2017 remarked that, “ If PhD students are applying for sweepers’ jobs, we have not taught them anything .” This issue warrants serious reflection, as this is not only the personal setback for scholars but also a waste of public resources. Today there is a growing awareness among both parents/students regarding the relevance of academic degrees/programs and the career opportunities they offer. If we make a system sophisticated it must translate into tangible benefits. For example, the semester system with 07-subjects, frequent exams/assessments may enhance the quality of a program but it leaves parents to question the validity of degrees after 3/4 years of study. They encourage their children to pursue courses like healthcare technologist/technicians/data analyst or business management where they can easily enter private sector. Some parents argue if their children start their own project, by the time they obtain such a degree, they would have their own established business. There are students opting to pursue higher education outside Kashmir due to better infrastructure, research opportunities, career-focused programs, and timely degree completion with quicker and streamlined admission procedures in comparison to CUET admissions. Then, students opt for open universities like IGNOU where contact-classes are held on weekends/holidays enabling them to attend their jobs as well. Many youth in J&K are turning towards self-employment and entrepreneurship and enrolling for distance/online courses for being accessible and affordable. The notion of opening up new colleges within few kilometers distances may seem convenient for students but it diminishes the essence of what true higher education offers. It dilutes resources and student populations, ultimately compromising educational quality at both institutions, new as well existing. Access to quality education is far superior to merely having free access to a college in your backyard where you get only a degree. Instead of duplicating efforts, we should focus on well established institutions; invest in enhancing their facilities, aligning them with long-term goals like skill development, innovation, incubation and entrepreneurship as envisaged under NEP 2020. Students always love to study in larger communities where diverse backgrounds converge, fostering a vibrant learning environment. This optimizes infrastructure as well as faculty effectiveness. A single, well-equipped campus can serve thousands of students, enabling faculty to engage in research, innovation as well as student mentorship. In a fast-changing world economy, higher education institutions function like business enterprises. The students will be drawn to your establishment only if you offer quality programs with diverse range of options. It is essential to continue efforts to focus on market-relevant skills update curricula and promote entrepreneurship and innovation. Soft skills such as communication, teamwork, leadership, problem-solving, critical thinking etc is an area where we can concentrate more as it requires less infrastructures. Furthermore, there is a need to integrate technical education with higher education and placing all polytechnics and ITIs under higher education framework. This will optimize the process for effectively utilizing the infrastructure, manpower with improvisations, to meet the skill requirements of students in a cohesive environment. Universities are meant to generate new knowledge, ideas, and programs and develop new mindsets, to build a healthy society. In light of the evolving job landscape, SKUAST-Kashmir this year launched a B.Tech program in Artificial Intelligence (AI) in collaboration with IIT Mandi. The program aims to equip students with advanced skills in AI and machine learning (ML) for precision agriculture, addressing modern challenges while opening up diverse career opportunities. In a similar stride, the Department of Computer Science at the University of Kashmir recently initiated a 5-year Integrated Master’s Program in Data Science and AI. Data science is now a cornerstone of many industries, from healthcare to finance, with the addition of AI enhancing its technological relevance. The students will have direct transition from schools to a heavenly attractive university campus. We are currently witnessing a transitional phase, where technological innovations are seamlessly permeating every facet of our lives. The students need to understand that no particular conventional field/subject holds any inherent advantage or privilege over the others. It is happening across the globe and affecting all professions like medicine, engineering and others. The history is witness to the fact that the introduction technology and its innovations created more jobs than it displaced. The advent of power looms or the internet was not just technological breakthroughs but they sparked economic growth and large-scale job creation. Thus, the present onslaught is not a cause for despair but an opportunity to embrace this transformative phase with optimism by acquiring relevant skills and maintaining a proactive approach to learning. It is the perseverance and innovation that will eventually lead to a brighter future with opportunities. Dr Muhammad Amin Malik is a College Principal.
Share Tweet Share Share Email Managing medical expenses can be one of the most challenging aspects of navigating healthcare services. With rising costs, increasing complexity, and various payment methods available, individuals often find themselves overwhelmed by the burden of managing medical bills. However, simplifying payments for healthcare services is essential to ensure individuals can access care without the added stress of financial confusion . The Growing Complexity of Medical Payments Healthcare payments have evolved significantly over the years. Gone are the days when patients could simply pay a straightforward fee for a doctor’s visit. With the introduction of health insurance plans, deductibles, co-pays, out-of-pocket maximums, and various billing systems, managing medical payments has become far more complex. Today, patients often find themselves facing multiple bills from different providers, insurance companies, and medical facilities. These bills can come with varying terms, confusing codes, and unexpected charges. Patients are not only dealing with different billing systems but also with ever-increasing medical costs. A significant rise in healthcare expenses in the last few decades has made it even more difficult to afford care. Medical services that were once affordable are now out of reach for many, and navigating the payment systems has become a source of frustration. In light of these challenges, simplifying medical expense management is essential for improving patient experience and reducing financial stress. Why Medical Expense Management Matters Proper medical expense management has multiple benefits, both for patients and healthcare providers. First and foremost, it helps patients manage and organize their healthcare costs. With the proper tools and strategies, patients can track their medical bills, understand their insurance coverage , and make informed decisions about care options. For healthcare providers, efficient expense management translates to smoother operations. Clear billing practices reduce confusion and help improve payment collections. Simplifying payments also helps ensure that patients receive timely care without worrying about outstanding debts. In turn, this can improve patient satisfaction and foster better relationships between patients and healthcare providers. Moreover, effective management of medical expenses can lead to financial savings. By understanding insurance plans, comparing costs, and avoiding unnecessary procedures, patients can make more cost-effective healthcare decisions. Simplifying this process, however, requires a thorough understanding of various billing systems, which can be difficult for individuals to navigate without help. Strategies for Simplifying Medical Expense Management There are several ways to simplify the management of medical expenses, both from a personal and organizational standpoint. Let’s look at the most effective strategies for streamlining this often overwhelming process. Utilize Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) are powerful tools designed to help patients save money on healthcare costs. These accounts allow individuals to set aside pre-tax money to pay for eligible medical expenses. HSAs are particularly beneficial because the funds roll over from year to year, and the savings grow tax-free. By using HSAs and FSAs, individuals can reduce the impact of medical expenses on their budgets. They offer an organized way to save money for future medical needs while simplifying the payment process. Patients can use the funds directly for medical bills, making the overall process of paying for care less stressful. Leverage Technology for Payment Tracking With the proliferation of smartphone apps and online tools, managing medical expenses has never been easier. Various apps and websites now offer services for tracking medical bills, managing insurance claims, and organizing payment plans. Many of these platforms automatically update with new charges, ensuring that patients stay on top of their financial obligations. For instance, several apps allow users to input their insurance details and track their medical bills, making it easy to see what’s been paid and what’s still outstanding. Such digital tools are particularly valuable for patients who are dealing with multiple healthcare providers or complex billing systems . In addition to tracking bills, these platforms may also provide users with the ability to communicate directly with providers or insurers to resolve issues. Many people often miss deadlines or pay incorrect amounts due to confusion over billing, but these tools can make it easier to avoid such errors. Streamline Communication with Healthcare Providers One of the most significant pain points for patients is poor communication between them and their healthcare providers regarding billing. Often, patients do not receive timely or clear information about their charges, which leads to frustration and confusion. This problem is especially prevalent when dealing with different specialists, lab services, or pharmacies. To simplify this process, patients should request a clear breakdown of their bills and insurance coverage. Many healthcare providers now offer patient portals where individuals can view their statements, make payments, and even ask questions. For healthcare organizations, ensuring clear communication with patients is essential. By providing patients with easy-to-understand bills and offering assistance for payment plans, healthcare providers can significantly reduce the number of disputes and improve the payment experience. Take Advantage of Payment Plans While upfront medical costs can be daunting, many providers offer flexible payment plans to help patients manage their bills over time. Payment plans are often an excellent option for those who cannot afford to pay the full amount at once. Most providers will allow patients to set up monthly payments, which can be tailored to fit their budget. In some cases, providers may also offer discounts or reduced rates for those who need financial assistance. For example, if a patient is uninsured or has limited coverage, healthcare facilities may be willing to negotiate lower prices or payment terms. It’s important for patients to inquire about these options and make use of them to reduce financial strain. Understand Your Insurance Coverage Understanding your insurance plan is crucial for minimizing out-of-pocket expenses. Many people are unaware of the full extent of their coverage, including deductibles, co-pays, and out-of-pocket maximums. Without this knowledge, individuals may face unexpected costs or even avoid necessary care due to fear of high bills. Patients should carefully review their insurance policies to understand the benefits and limitations. It’s also wise to contact the insurance company directly to clarify any questions. Understanding how insurance applies to different services, such as prescriptions or specialist visits, can help patients plan better and avoid financial surprises. Use Consolidated Billing Systems Another strategy for simplifying medical expense management is consolidating bills. Some medical providers now offer consolidated billing services that combine multiple charges into one comprehensive statement. This system allows patients to receive a single bill that covers charges from different doctors, lab tests, and services received within a healthcare facility. Consolidated billing simplifies the payment process by reducing the number of bills a patient must keep track of. Instead of managing multiple payments, patients can pay one bill, reducing the risk of missed payments or misunderstandings. The Future of Medical Expense Management As the healthcare industry continues to evolve, so too will the ways in which medical expenses are managed. The rise of telemedicine, artificial intelligence, and blockchain technology may revolutionize the billing process. For example, AI could help predict medical costs, automate insurance claims, and even provide personalized advice for reducing medical expenses. Moreover, healthcare systems are increasingly integrating digital tools that allow patients to better manage their financial responsibilities. From personalized payment plans to AI-driven billing systems, the future looks promising for those who seek simpler, more transparent ways to manage medical expenses. Conclusion Managing medical expenses doesn’t have to be an overwhelming task. By leveraging technology, understanding insurance, and using tools like HSAs and FSAs, patients can take control of their healthcare costs. Healthcare providers can also play a key role by offering clear communication, payment plans, and consolidated billing systems. As the healthcare landscape continues to change, simplifying medical expense management will be crucial for ensuring that patients can access the care they need without financial burden. With the right strategies and tools, individuals can navigate medical payments more effectively, ensuring better health outcomes and reduced stress. Related Items: Healthcare Services , Medical Expense Management Share Tweet Share Share Email Recommended for you 5G Technology Explained: What It Means for Consumers and Businesses Navigating the Complexities of Life Care Planning in San Diego How does the health ATM make healthcare services more accessible? Comments
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Home | News | Opinion Significance Of Putins Visit Opinion: Significance of Putin’s visit The 23rd India-Russia summit in New Delhi takes place when Moscow intends to rebalance global power By Telangana Today Published Date - 15 December 2024, 11:59 PM By KB Usha Nearly three years after his last visit to India in December 2021, Russian President Vladimir Putin will be in New Delhi for the forthcoming reciprocal 23rd annual bilateral summit with Prime Minister Narendra Modi, pending the announcement of specific dates. Putin’s visit will be at Modi’s invitation extended during their bilateral meeting held on the sidelines of the October 2024 Kazan BRICS summit. The two leaders had earlier met at the 22nd India-Russia summit held on the sidelines of the Eastern Economic Forum in Russia in July 2024. At that time, both sides reconfirmed their commitment to strengthen their “special and privileged” strategic partnership and its historical, time-tested and all-weather nature. Putin’s Priority The upcoming summit is significant as Putin’s priority would be to advance multipolarity amid a rapidly changing global order from unipolar dominance to multipolar balance. The Kazan BRICS summit declaration resembled a testament to building a fairer and more just world order, which will be represented by the voice of the global south/global majority that remains marginalised in Western-centric international institutions. Like China, India is expected to be considered a civilisational state and an important partner in building a multipolar order in the emerging global balance of power led by Russia’s initiatives. Russian philosopher Alexander Dugin, whose ideas have much influence on Putin and Moscow’s policy, considers China, India and his country as civilisational states rather than nation-states in the Westphalian model of international relations. For him, multipolarity should be based on dialogue among Russia, China and India which form the Brazil, Russia, India, China, South Africa (BRICS) grouping that challenges Western dominance. Dugin emphasises the crucial role India can play in the new global order and balance of power, which includes liberation from a colonial mindset and keeping away from West-dominated narratives. Western Dominance The discourse in academic and policy circles, especially in Russia and the Global South, questions the Western dominance and the marginalisation of non-Western voices and experiences. The debate calls for commitment to diversity, inclusiveness, pluralistic universalism and grounding in world history. Besides, the NATO expansion to the East, political instability, the rebirth of fascism in Europe and the US and confronting the new Cold War are the reasons for Russia’s call for building a multipolar world order with the support of Turkey, Egypt, India, China, Brazil, South Africa and others, through Eurasian integration and strengthening multilateral platforms like BRICS, Shanghai Cooperation Organisation and G20. There is speculation that Putin may have played a role in bringing together Chinese President Xi Jinping and Modi for a successful meeting at Kazan BRICS is the most crucial institution in the new Cold War and for establishing a multipolar world order. The changing global context and cooperation with Russia in the Global South, especially under the framework of BRICS, shows that isolating Russia is difficult. Russia is now committed to building a fairer and just multipolar world order as envisioned in the Kazan Declaration, which calls for strengthening multilateralism, enhancing economic cooperation, strengthening people-to-people exchanges, respecting the UN Charter and international law, fighting terrorism and climate change, etc. A consensus was sought to be reached about viewing “unlawful unilateral coercive measures,” such as sanctions, as detrimental to the global economy and sustainable development goals. Therefore, the expanded BRICS agreed to de-dollarise and trade in national currencies. India’s Position Putin sees the current significance of Russia, India and China in the East to confront Containment II – US’ post-Cold War containment policy – in the 21st century; in the same way Lenin observed in 1923 the significance of Russia’s alliance with India and China for ensuring the success of socialism in its struggle against imperialist countries. In the context of the emergence of a multipolar world, former US Secretary of State Henry Kissinger also said, “India will be a fulcrum of twenty-first-century order: an indispensable element...” Putin views that Russia, China and India’s alliance might counter NATO expansion and neo-liberal capitalism, strengthen multipolarity and ensure the emergence of a multipolar world order which will be more democratic, equitable, prosperous and peaceful. In a recent speech at Valdai International Discussion Club’s plenary meeting in Sochi, considering its fast technological and economic growth, Putin said, “India should be included in the list of great powers.” There is speculation that Putin may have played a role in bringing together Chinese President Xi Jinping and Modi for a successful meeting at Kazan. They agreed to keep the overall relationship cooperative, contribute to regional and global peace and act with a long-term perspective to advance multipolarity. Importantly, Chinese Foreign Minister Wang Yi asserted that Beijing and New Delhi are non-aligned, uphold multilateralism and that the two countries would contribute to the process of building global multipolarity. Indian Foreign Minister S Jaishankar, who met Wang Yi on the sidelines of the Rio de Janeiro G20 meeting recently, said the two sides agreed to work together towards rebuilding trust and mutual understanding. Progress will be expected in resuming direct flights, exchanging journalists and facilitating visa issuance. At the 22nd July 2024 India-Russia summit, Putin and Modi reaffirmed their commitment to the “special and privileged strategic partnership”. India has also adopted a neutral position in the Ukraine-Russia war, urging the latter to resolve the conflict through dialogue and diplomacy in accordance with international law. After the Ukraine war, India-Russia trade expanded considerably. India is one of the main importers of Russian oil despite pressure from US-West partners. The target is to increase trade volume from $65 billion in 2023 to $100 billion by 2030. The forthcoming 23rd India-Russia summit will reflect upon and review the partnership, discuss future directions and trajectories and a roadmap for cooperation towards building global multipolarity. Defence cooperation is the major focus of Russia’s strategic partnership, though trade and economic cooperation is expanding. (The author is an Associate Professor at the Centre for Russian and Central Asian Studies, School of International Studies, Jawaharlal Nehru University, New Delhi. 360info) Follow Us : Tags BRICS BRICS summit Cold War Narendra Modi Related News Revanth Reddy dodges questions on implementation of guarantees Lok Sabha to begin two-day debate on the Constitution on Friday Union Cabinet clears ‘One Nation, One Election’ Bill People fear taking unknown calls as online scams increase
An old rivalry game takes place in a new league as the USC Trojans face the UCLA Bruins for the first time as Big Ten members in Week 13 of the 2024 college football season. This game kicks off at 7:30 p.m. PT/10:30 p.m. ET (9:30 p.m. CT) on Saturday, November 23 with a live broadcast on NBC , and streaming live on demand . • WATCH: UCLA vs. USC football live for free with Fubo (free trial), or stream this game and more Big Ten football on the cheap with Peacock (costs $7.99/month, cancel anytime). What TV channel is the USC vs. UCLA football game on? When : Kickoff is set for 7:30 p.m. PT/10:30 p.m. ET (9:30 p.m. CT) on Saturday, November 23. Where : Rose Bowl, Pasadena, CA TV Channel : NBC, and streaming on Peacock How to watch streaming live : If you don’t have cable, you can still watch this game live for FREE with Fubo (free trial) or with DirecTV Stream (free trial). If you are out of free trials, the best way to watch this game on the cheap is by signing up for Peacock Premium (costs $7.99/month, cancel anytime) which will have several streaming-only games on the service this season. Here’s the complete Big Ten football on Peacock schedule . If you already have a cable or satellite subscription already, you can watch the game on NBC Live by signing in with your provider information. What TV channel is NBC on? You can find out more about which channel NBC is on in your area by using the channel finders here: Comcast Xfinity , DIRECTV , Dish , Verizon Fios , Spectrum/Charter , Optimum/Altice . USC vs. UCLA spread, betting odds Point spread : USC: -4.5 | UCLA: +4.5 Over/Under : 51.5 Get promo codes, signup deals and free bets from our Oregon Betting News home page .Israeli filmmakers prove AI can make films better without compromising art
Authored by Lance Roberts via RealInvestmentAdvice.com, Last week, we discussed that the selloff heading into Christmas was the setup for the beginning of the year-end “Santa Claus” rally. On Christmas Eve, Santa arrived, pushing the markets back above the important 50-DMA. However, the market sold off on Friday to successfully retest the 50-DMA. While it may seem that the “Santa Rally” stalled, I suspect that we could see some buying next week as portfolio window dressing concludes and traders position portfolios in the first two days of January. As shown, momentum and relative strength are weak currently, but if the market can break back above the 20-DMA, this should bring buyers into the market. As we noted previously, the sell signal keeps a lid on price appreciation, and until that reverses, there is limited upside to the markets over this week. There is also the 24% possibility that a rally fails to materialize entirely. We suggest managing portfolio risk until the market ultimately makes a decisive move. We continue to monitor yield spreads, which remain near the lowest level since the “Financial Crisis.” When yield spreads were this low previously, this equated to excessive optimism about financial market conditions. This is the same currently, as investors are willing to overpay for the risk they are taking on. Unfortunately, such has not ended well previously, but yield spreads will be the leading indicator for investors to reduce portfolio risk more aggressively. For now, optimism remains high. But as we will discuss today, that is also a problem we need to monitor closely. In “ 2025 Predictions, “ we showed some early indications of Wall Street targets for the S&P 500 index, and, as is always the case, optimism for the coming year is very high. The median estimate is for the market to rise to 6600 next year, which would be a disappointing return of just 8.2% after two years of 20% plus gains. However, the high estimate from Wells Fargo suggests a 14% return, with the low estimate from UBS of just a 5% return. Notably, there is not one estimate available for a negative return. Interestingly, optimism for 2025 has taken on an interesting twist. Over the last two years of above-average returns, earnings growth has come from just the top-7 market capitalization companies in the S&P 500 index. However, analysts now expect earnings to shift from the bottom 493 companies in the index. The optimism in these assumptions is interesting because the economy has grown strongly over the last two years, yet those 493 companies could not grow earnings. What will change in 2025? Yes, President Trump has promised to extend the Tax Cuts and Jobs Act, but that doesn’t change the previous tax rate in the last two years. He has proposed to remove tax on tips and social security, but that impacts only a small percentage of the population. On the other hand, depending on the scale and areas of impact, deregulation could improve earnings, but much of that will have to be passed through Congress, which could prove difficult. The Federal Reserve hopes to continue to cut interest rates, but sticky inflation could slow that process, particularly if economic growth remains strong into 2025. Even if the economy continues to grow strongly, what will cause the shift in earnings growth from those dominant market players to much smaller companies? Such is particularly the case given the continued reversal of monetary liquidity in the economy, with higher borrowing costs and declining consumer savings rates. However, while analyst’s optimism about earnings growth in 2025 is high, which would take earnings well above the long-term growth trend, those estimates are already reversing toward reality. In the last six months, estimates have dropped by $3 per share and will likely be closer to $220 per share by next year. As shown, earnings tend not to deviate from the long-term trend for long, and typically, those deviations only occur during recessions and immediate recoveries. As discussed recently , if earnings revert toward the long-term trend, which should be expected given that earnings are a function of economic growth, the current valuations become more problematic. “While the bullish optimism is possible, that outcome faces many challenges in 2025, given the market already trades at fairly lofty valuations. Even in a “soft landing” environment, earnings should weaken, which makes current valuations at 27x earnings more challenging to sustain. Therefore, assuming earnings decline toward their long-term trend, that would suggest current estimates fall to $220/share by the end of 2025. This substantially changes the outlook for stocks, with the most bullish case being 6380, assuming a roughly 4.5% gain versus every other outcome, providing losses ranging from a 2.6% loss to a 20.6% decline.” But again, those assumptions are based on a continued moderation in economic growth. However, to justify the optimism for increased earnings growth, we must also expect that: Economic growth remains more robust than the average 20-year growth rate. Wage and labor growth must reverse (weaken) to sustain historically elevated profit margins . Both interest rates and inflation need to decline to support consumer spending. Trump’s planned tariffs will increase costs on some products and may not be fully offset by replacement and substitution. Reductions in Government spending, debt issuance, and the deficit subtract from corporate profitability (Kalecki Profit Equation). Slower economic growth in China, Europe, and Japan reduces demand for U.S. exports, slowing economic growt h. The Federal Reserve maintaining higher interest rates and continuing to reduce its balance sheet will reduce market liquidity. You get the idea. While optimism about economic and earnings growth is elevated going into 2025, there are risks to those forecasts. Such is particularly true when examining current economic data’s relative strength and trend. Subdued manufacturing activity, slowing GDP growth, and cautious consumer behavior all point to an economic environment less supportive of aggressive earnings growth. As such, investors must carefully navigate the disconnect between high Wall Street expectations and softening economic conditions. A better way to visualize this idea is to look at the correlation between the annual change in earnings growth and inflation-adjusted GDP. There are periods when earnings deviate from underlying economic activity. However, those periods are due to pre- or post-recession earnings fluctuations. Currently, economic and earnings growth are very close to the long-term correlation. Heading into 2025, real personal consumption expenditures (PCE) remain above real retail sales. While such deviations can occur, they tend not to remain that way long, given that retail sales comprise about 40% of PCE. Such suggests that in 2025, PCE will begin to converge with retail sales, resulting in slower economic growth rates. The following graph visualizes the plight of the average American by showing the “gap” between the cost of living and income and savings. To fund the current cost of living, consumers must spend all of their income and savings and then subsidize the remainder with almost $4000 in debt annually. This is why total consumer debt continues to rise, which does sustain economic activity in the near term. However, the longer-term impact is slower economic growth as consumers cannot take on excess debt. Also, if interest rates remain elevated, the impact on economic growth is exacerbated. So, if economic growth slows next year, as the Federal Reserve expects, why is Wall Street so optimistic? When Wall Street wants to make a stock offering for a new company, it has to sell that stock to someone to provide its client, the company, with the funds it needs. The Wall Street firm also makes a very nice commission from the transaction. Generally, these publicly offered shares are sold to the firm’s biggest clients, such as hedge funds, mutual funds, and other institutional clients. But where do those firms get their money? From you. Whether it is the money you invested in your mutual funds, 401k plan, pension fund, or insurance annuity, you are at the bottom of the money-grabbing frenzy. It’s much like a pyramid scheme – all the players above you are making their money...from you. In a study by Lawrence Brown, Andrew Call, Michael Clement, and Nathan Sharp, it is clear that Wall Street analysts are not interested in you. The study surveyed analysts from major Wall Street firms to understand what happened behind closed doors when research reports were being put together. In an interview with the researchers, John Reeves and Llan Moscovitz wrote: “Countless studies have shown that the forecasts and stock recommendations of sell-side analysts are of questionable value to investors. As it turns out, Wall Street sell-side analysts aren’t primarily interested in making accurate stock picks and earnings forecasts. Despite the attention lavished on their forecasts and recommendations, predictive accuracy just isn’t their main job.” The chart below is from the survey conducted by the researchers, which shows the main factors that play into analysts’ compensation. What analysts are “paid” to do is quite different from what retail investors “think” they do. “Sharp and Call told us that ordinary investors, who may be relying on analysts’ stock recommendations to make decisions, need to know that accuracy in these areas is ‘not a priority.’ One analyst told the researchers: ‘The part to me that’s shocking about the industry is that I came into the industry thinking [success] would be based on how well my stock picks do. But a lot of it ends up being “What are your broker votes?”‘ A ‘broker vote’ is an internal process whereby clients of the sell-side analysts’ firms assess the value of their research and decide which firms’ services they wish to buy. This process is crucial to analysts because good broker votes result in revenue for their firm. One analyst noted that broker votes ‘directly impact my compensation and directly impact the compensation of my firm.’” The question becomes, “ If the retail client is not the firm’s focus, then who is?” The survey table below clearly answers that question. Not surprisingly, you are at the bottom of the list. The incestuous relationship between companies, institutional clients, and Wall Street is the root cause of the ongoing problems within the financial system. It is a closed loop portrayed as a fair and functional system; however, it has become a “ money grab” that has corrupted the system and the regulatory agencies that are supposed to oversee it.Notable quotes by Jimmy Carter
Pharming announces public cash offer to the shareholders of Abliva ABEdwards Lifesciences Co. ( NYSE:EW – Get Free Report ) has received a consensus rating of “Hold” from the twenty-six analysts that are currently covering the company, Marketbeat Ratings reports. Sixteen analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $75.67. A number of equities analysts have weighed in on the company. Piper Sandler reduced their price objective on Edwards Lifesciences from $73.00 to $70.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Barclays reduced their price objective on Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating for the company in a research note on Monday, September 9th. Citigroup reduced their price objective on Edwards Lifesciences from $83.00 to $77.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. JPMorgan Chase & Co. lifted their price objective on Edwards Lifesciences from $72.00 to $78.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Finally, Sanford C. Bernstein upgraded Edwards Lifesciences from a “strong sell” rating to a “hold” rating in a research note on Monday, October 28th. Get Our Latest Report on EW Insider Transactions at Edwards Lifesciences Institutional Trading of Edwards Lifesciences A number of large investors have recently modified their holdings of the stock. Crewe Advisors LLC acquired a new position in Edwards Lifesciences in the first quarter valued at $28,000. First Community Trust NA acquired a new position in Edwards Lifesciences in the second quarter valued at $29,000. FSA Wealth Management LLC acquired a new position in Edwards Lifesciences in the third quarter valued at $30,000. Prospera Private Wealth LLC acquired a new position in Edwards Lifesciences in the third quarter valued at $32,000. Finally, Avior Wealth Management LLC boosted its stake in Edwards Lifesciences by 138.7% in the third quarter. Avior Wealth Management LLC now owns 530 shares of the medical research company’s stock valued at $35,000 after acquiring an additional 308 shares in the last quarter. Hedge funds and other institutional investors own 79.46% of the company’s stock. Edwards Lifesciences Stock Up 0.2 % Shares of NYSE EW opened at $70.49 on Wednesday. The company has a current ratio of 3.46, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $41.58 billion, a PE ratio of 10.17, a price-to-earnings-growth ratio of 3.95 and a beta of 1.12. The stock’s fifty day simple moving average is $67.70 and its two-hundred day simple moving average is $75.73. Edwards Lifesciences has a 12-month low of $58.93 and a 12-month high of $96.12. Edwards Lifesciences ( NYSE:EW – Get Free Report ) last posted its quarterly earnings data on Thursday, October 24th. The medical research company reported $0.67 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.67. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Edwards Lifesciences had a return on equity of 20.76% and a net margin of 70.82%. The business’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.59 EPS. As a group, analysts expect that Edwards Lifesciences will post 2.57 EPS for the current fiscal year. Edwards Lifesciences Company Profile ( Get Free Report Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States, Europe, Japan, and internationally. It offers transcatheter heart valve replacement products for the minimally invasive replacement of aortic heart valves under the Edwards SAPIEN family of valves system; and transcatheter heart valve repair and replacement products to treat mitral and tricuspid valve diseases under the PASCAL PRECISION and Cardioband names. Recommended Stories Receive News & Ratings for Edwards Lifesciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Edwards Lifesciences and related companies with MarketBeat.com's FREE daily email newsletter .