“A Hiring Heat Wave” – Vista Partners Daily Market Recap 1/4/2019
After a disappointing day yesterday, the stocks surged today, ending the week on a much happier note. The S&P 500 saw a rise of 3.43% or 84.05 points thanks to advances in technology stocks. Also reaping the benefits of gains in tech shares, the Nasdaq closed today with an increase of 4.26% or 275.35 points. To round the day out, Dow climbed up 3.28% or 746.81 points.
The Dow’s individual components also seemed to have a much better day today with all individuals seeing a positive change at the market close. The biggest change today was seen by Intel Corporation (INTC) with a climb of 6.14%. Caterpillar Inc. (CAT) also did well with an increase of 5.46%. McDonald’s Corporation (MCD) saw gains of 1.93%.
Not a component of the Dow, the Seattle based biotech firm Atossa Genetics Inc. (ATOS) also ended the day on a positive note with an increase of 5.41% closing at $1.17 after touching $1.25.
The surge in stocks today came after a report from the Bureau of Labor Statistics that the U.S. economy had added far more jobs than expected. The hiring heat wave saw 312,000 jobs added in December, smashing the expectations of 184,000. The average hourly earnings also saw an increase of 0.4% last month and 3.2% over the last year.
“There’s a lot to choose from regarding positive developments amid all of the uncertainty, volatility and worries elsewhere in the economy and the broader environment.” -Mark Hamrick, Bankrate.com senior economic analyst
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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