Raphael Stevens

The White House, in a statement Monday, said it would terminate on May 11 both the public health and national emergencies declared in response to Covid.
The Trump administration first issued the emergency declarations in early 2020.

U.S. President Joe Biden delivers remarks on the coronavirus disease (COVID-19) before receiving a second COVID-19 booster vaccination in the Eisenhower Executive Office Building’s South Court Auditorium at the White House in Washington, U.S., March 30, 2022.
Kevin Lamarque | Reuters

The Biden administration plans to end the Covid public health emergency this spring, which will mark a major turning point in the U.S. response to the pandemic.
The White House, in a statement Monday, said it would terminate on May 11 the public health and national emergencies that the Trump administration first declared in 2020.

The statement issued by the Office of Management and Budget expressed the White House’s strong opposition to House Republican legislation aiming to immediately end the emergency declarations.
The public health and national emergencies have enabled hospitals and nursing homes to respond more flexibly when faced with spikes in patient volume during Covid surges.
Enrollment in Medicaid has also surged during the public health emergency because Congress basically barred states from disenrolling people from the program.
A provision tucked in federal spending legislation passed in December allows states to start disenrolling people from Medicaid again in April.
The Health and Human Services Department has promised to give states 60 days notice before ending the public health emergency so the health-care system has time to prepare for a return to normal.

The public health emergency has been extended every 90 days since January 2020 as the virus has evolved into new variants and thrown repeated curveballs over the past three years. HHS just extended the public health emergency earlier this month.
The OMB said abruptly ending the emergencies in the way laid out in the Republican legislation would “create wide-ranging chaos and uncertainty throughout the health care system.”
Terminating the declarations without giving hospitals time to adjust would lead to “disruptions in care and payment delays, and many facilities around the country will experience revenue losses,” according to the OMB statement.
It would also “sow confusion and chaos” in the process of winding down the Medicaid coverage protections, OMB said.
Although the emergency declarations remain in place, the federal response to the pandemic has already been scaled back as funding has dried up. Congress has failed for months to pass a White House request for $22.5 billion in additional funding for the Covid response.
The White House is also planning to transition the Covid vaccines to the private market in the near future, though the exact timing is unclear. This means the cost of the vaccines would be covered by patients’ insurance policies rather than the federal government.
Moderna and Pfizer have both said they may charge as much as $130 per dose of vaccine, quadruple what the federal government pays.
Covid has killed more than one million people in the U.S. since 2020. Deaths have dropped dramatically since the pandemic peak during winter 2021, but nearly 4,000 people are still succumbing to the virus every week.

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Monday – Friday, 6:00 – 7:00 PM ET

CNBC’s Jim Cramer said the benchmark S&P 500 could be at a pivotal moment this week.
The S&P fell on Monday ahead of a packed week of earnings and a potential interest rate increase from the Federal Reserve.

CNBC’s Jim Cramer on Monday said the benchmark S&P 500 could be at a pivotal moment this week.
“The charts, as interpreted by Mark Sebastian, suggest that we’re approaching a decisive moment here. If the S&P 500 can avoid a major decline this week, he’s feeling optimistic about the future — on the other hand, if it gets clobbered, he sees a heck of a lot more downside,” Cramer said.

The S&P fell 1.3% to 4,017.77 on Monday ahead of a packed week of earnings and a potential interest rate increase from the Federal Reserve.
To explain analysis from Sebastian, who is the founder of trading education company Option Pit, Cramer examined the daily chart of the S&P 500 going back to last January.

Arrows pointing outwards

Sebastian notes that the S&P 500 hasn’t been able to break through its ceiling of resistance since a year ago despite multiple rallies last year, until Jan. 23 of this year, according to Cramer. The benchmark index has since stayed above the level for six consecutive trading sessions, he added.
He also compared the chart of the S&P over the last month to that of the CBOE Volatility Index, or the VIX, Wall Street’s fear gauge, to explain why the breakout is significant.

Arrows pointing outwards

While the VIX and the S&P normally move in opposite directions, they’ve both moved up since Jan. 13, according to Cramer.

“When these two lines move in the same direction, it usually means you can’t trust the action in this, in the S&P … because while the market’s rising, the fear is rising, too,” he said.
Cramer added that Sebastian expects the market to see a retest of the new floor of support at the 200-day moving average.
“If that floor doesn’t hold, he wouldn’t be surprised to see the S&P plunging to a new low around 3,400,” he said, adding, “This is assuming something goes very wrong this week, maybe a much harsher than expected [Fed] meeting.”
For more analysis, watch Cramer’s full explanation below.

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Monday – Friday, 6:00 – 7:00 PM ET

It’s that time again! “Mad Money” host Jim Cramer rings the lightning round bell, which means he’s giving his answers to callers’ stock questions at rapid speed.

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Vale SA: “I am going to bless it for a trade. Why? Because copper is starting to fly, which means Vale can fly.”

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Monday – Friday, 6:00 – 7:00 PM ET

CNBC’s Jim Cramer on Monday said that it’s time to acknowledge that his group of Big Tech FANG companies are no longer market leaders.
The acronym, which was first coined by Cramer, stands for Facebook parent Meta Platforms, Amazon, Netflix and Google parent Alphabet.

CNBC’s Jim Cramer on Monday said that it’s time to acknowledge that his group of Big Tech FANG companies — the acronym for Facebook parent Meta Platforms, Amazon, Netflix and Google parent Alphabet that was first coined by the “Mad Money” host — aren’t infallible market leaders.
“FANG has become worthless as a name, an acronym, an amalgam, because of sheer ennui. Nobody cares anymore, nor should they,” he said, adding, “The magic is gone. They’ve got to play by the rules.”

Stocks fell on Monday ahead of a potential interest rate hike from the Federal Reserve and a busy week of earnings, including reports from Meta, Amazon and Alphabet. 
Cramer said that one of his main issues with FANG is that the companies are opaque, which doesn’t allow investors to make informed decisions about their stocks. He discussed his concerns regarding each company:

Meta: Investors have no idea how the company is faring due to its lack of communication. But the company’s roughly $386 billion market capitalization, which is smaller than it should be, is a reason to own the stock.
Amazon: The stock will go higher if the e-commerce giant lays off even more of its workforce after already cutting more than 18,000 jobs. If the company doesn’t take that step, its stock will fall and the company will become unworthy of its $1 trillion market capitalization.
Netflix: While the company is the only name among the group that’s doing well, its roughly $157 billion market capitalization means it’s too small to matter. 
Alphabet: The Google parent company is largely an advertising business, which has been hit hard by the slowing economy, yet remains unclear about the challenges it’s likely facing.

Cramer said that Apple, which in recent years has been added to the original acronym to create FAANG, is a more transparent company with an attractive price-to-earnings multiple. Investors who own the stock should hold on to their shares, he advised.
He added that his thoughts on FANG don’t mean that he believes the stocks aren’t worth owning. 
“I’m not saying that these companies are unimportant. They’re too big to be ignored. What I’m saying is that FANG has worn out its welcome,” he said. “You have to make a decision about their worth as enterprises — not based on earnings.”

Disclaimer: Cramer’s Charitable Trust owns shares of Meta, Amazon, Alphabet and Apple.

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Millions of people could lose Medicaid this year as pandemic-era coverage protections come to an end.
In April, states can start kicking people off Medicaid if they no longer meet eligibility criteria.
HHS is opening a special enrollment period so these individuals can apply for coverage through Obamacare.

An Obamacare sign is seen outside of the Leading Insurance Agency, which offers plans under the Affordable Care Act (also known as Obamacare) on January 28, 2021 in Miami, Florida.
Joe Raedle | Getty Images

Millions of people in the U.S. are at risk of losing Medicaid this year when coverage protections put in place during the Covid-19 pandemic come to an end in April.
To make it easier for these individuals to transition to other coverage, the Health and Human Services Department has announced a special enrollment period for Obamacare.

People who lose Medicaid coverage from March 31 through July 31, 2024 can apply for Obamacare outside of the normal enrollment period at healthcare.gov if they live in a state served by the federal marketplace, according to new guidance from HHS.
A majority of the states, 33 in total, use healthcare.gov as their insurance marketplace. The 17 states that run their own marketplaces can implement a special enrollment period but are not required to do so.
Individuals who lose Medicaid won’t have to provide any additional documentation to shop for Obamacare. The application will simply ask them whether they lost Medicaid coverage.
Consumers have 60 days to pick a health insurance plan after submitting their application. Once they’ve picked a new plan, coverage will begin on the first day of the following month.
Typically, consumers have to submit documentation of a life change to apply for health insurance outside the open enrollment period, but HHS is streamlining the process for those losing Medicaid.

Medicaid enrollment swelled during the pandemic after Congress basically banned state governments from kicking people off the program for the duration of the public health emergency.
Enrollment in Medicaid has increased by 28% since February 2020 to nearly 84 million people as of September, according to the Center for Medicare and Medicaid Services.
Congress passed a federal spending bill in December that separated the Medicaid coverage protections from the public health emergency. States can start withdrawing coverage for people in April if they no longer meet eligibility criteria or are unresponsive to information requests.
HHS has estimated that 15 million people will lose Medicaid coverage once the pandemic-coverage protections end. Eight million of them will need to transition to other forms of coverage, according to HHS estimates. But 6.8 million will lose Medicaid despite still being eligible for the program, according to HHS.
States are required to make a good faith effort to contact the individual whose eligibility is under review through more than one communication method.

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Paramount Global is integrating Showtime’s streaming service into its marquee platform, Paramount+.
Cable channel Showtime will be rebranded as Paramount+ with Showtime. Paramount+ original content will also be featured on it.
Pricing for the combined Paramount+ and Showtime service has yet to be announced.

In this photo illustration, Paramount+ (Paramount Plus) logo is seen on a smartphone against its website in the background.
Pavlo Gonchar | SOPA Images | LightRocket | Getty Images

Paramount Global is further joining its streaming and cable TV business by combining its Showtime TV network and streaming service, Paramount+.
The company said Monday it plans to integrate Showtime’s streaming service fully into Paramount+, its marquee standalone streaming platform and response to the streaming wars.

But the union doesn’t stop there. As part of this integration, the premium cable TV network, known for shows like “Yellowjackets,” “Billions,” and “Dexter,” will be rebranded as Paramount+ with Showtime. The TV channel will also feature content from Paramount+, which has produced original series that spun off from the popular “Yellowstone” and “Criminal Minds” franchises. People can subscribe to Showtime for an extra fee on their pay-TV bundle,
Pricing for the combined streaming platform and other details will be announced in coming weeks, a Paramount spokesperson said Monday. Paramount+ starts at $4.99 a month, and Showtime’s streaming service is $10.99 a month. A bundled offering of the two already exists, beginning at $11.99 a month.
In November, Paramount reported that Paramount+ had 46 million customers. The company reports fourth quarter earnings Feb. 16.
The move comes as media companies work to make their streaming businesses profitable. Competition is at an all-time high following a pandemic-fueled streaming boom, slowing the addition of subscribers. Stock prices have suffered, in part, due to this, and these companies have been experimenting to grow their streaming businesses.
Last year Netflix introduced a cheaper, ad-supported tier. While Disney was early to bundling its streaming options – Disney+, Hulu and ESPN+ – it also debuted an ad-supported option and increased prices last year. Warner Bros. Discovery has been pulling back on content for its HBO Max, as it looks to cut costs, and also plans to debut a combined HBO Max and Discovery streaming app in the spring.

“This new combined offering demonstrates how we can leverage our entire collection of content to drive deeper connections with consumers and greater value for our distribution partners,” Paramount CEO Bob Bakish said in a memo to employees Monday.
During the fall, Paramount restructured its Showtime business. Executive David Nevins, who’d been running the network since 2016, departed and Chris McCarthy and Tom Ryan took over. McCarthy also runs Paramount’s cable-TV networks like MTV and Comedy Central. Ryan runs Paramount’s streaming segment.
While McCarthy and Ryan will remain in place, Bakish acknowledged that the integration “brings uncertainty to the teams” that work on each brand.
–CNBC’s Stephen Desaulniers contributed to this report.

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Washington, D.C., has enacted a zero-fare bus bill into law.
The policy eliminates the $2 fare for all the city’s buses starting this summer.
It is the largest city to institute a fare-free transit system and part of a growing movement nationwide.

A bus is seen in Washington, DC, on December 12, 2022. – The Washington government voted to institute free bus rides for all starting in the summer of 2023.
Olivier Douliery | AFP | Getty Images

Washington, D.C., has enacted a zero-fare bus bill into law, according to the D.C. Council.
Mayor Muriel Bowser declined to officially approve the bill, which eliminates the $2 fare for all city buses, adds a dozen 24-hour bus lines starting in July and calls for a $10 million investment into other service improvements to the bus lines.

But the council enacted the proposal without the mayor’s signature, making Washington the largest U.S. city to codify a fare-free transit system as the movement takes off nationwide. Kansas City, Missouri, previously the largest city with such a law, made its own transit system zero-fare in 2019, though that city doesn’t have a train system.
In December, the D.C. Council unanimously passed the bill, but it had been waiting on a response from the mayor’s office before it could officially become law, said Councilmember Charles Allen, who initially proposed the Metro for D.C. bill in 2021.
Earlier this month, Washington’s chief financial officer approved the funding for the fare-free bus service, baking in $11 million for fiscal year 2023, $43 million for fiscal year 2024 and increasingly more for each fiscal year afterward.
The council was made aware of the mayor’s decision not to sign the legislation last week, according to Allen, and it was enacted without her signature on Thursday. The council officially announced the mayor’s decision on Monday.
It’s now debating whether to add an amendment that would subsidize rail travel for city residents, but the current version of the bill will go into effect in the meantime, Allen said.

“It’s full steam ahead now,” he said, adding that the mayor’s resistance to sign the bill is largely symbolic.
“There’s no practical difference at all,” Allen said. “Maybe you might think of it as reflecting a different level of enthusiasm.”
Bowser had previously taken issue with the fact that Maryland and Virginia weren’t helping to fund the bill despite the benefit to their residents, NBC Washington reported. The mayor’s office did not respond to a request for comment.

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