“A Struggle to Digest” Vista Partners Daily Market Recap 3/21/2019
Stocks in the US markets finished the day higher after moving lower in the morning. The markets seemed to initially be struggling to digest the Fed’s decision yesterday afternoon where they left interest rates alone & further suggested that they would not raise them in 2019. However, technology stocks stubbornly led a charge back in the markets in the second half of the day. They were led by tech giant and Dow 30 component Apple (AAPL) which closed at $195.09 up significantly by 3.68% or $6.93/share who released the newest iPad mini.
The tech-heavy Nasdaq ended up 1.42% or 109.99 points closing at 7,838.96. The S&P 500 was 1.09% or 30.65 points and closed at 2,854.88. The Dow checked in just shy of 26k closing at 25,962.51 up .84% or 216.84 points. The Fed’s recent “dovish tone” surely continued to have wings!
Dow 30 components The Travelers Companies, Inc. (TRV) closed at $134.37/share up 2.3%, Caterpillar, Inc (CAT) notched a win closing at $134.06/share up .79% on the day & Visa (V) closed up a solid 1.33%/
Atossa Genetics (ATOS), a Seattle-based biotech firm focused developing treatments for breast cancer, ticked down 7.67% closing at $3.73/share after trading another 1.07 Million shares and after reaching a 52-week high of $7.56.
Of note, initial jobless claims were reported at 221,000 a decrease for the latest week while the Conference Board’s Index of Leading Indicators met expectations as it increased .2% in February 2019.
Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.
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