“Exceeding Expectations” – Vista Partners Daily Market Recap 1/16/2018
US stocks continued their climb today that had begun yesterday, bolstered by quarterly reports from big-name financial institutions that exceeded expectations. The Nasdaq was up 0.15% (10.86 points) as the market closed on Wednesday and the S&P 500 rose 0.22% (5.80 points). The Dow saw gains of 0.59% (141.57 points).
Individual components of the Dow saw fairly mixed results today. Verizon (VZ) saw the biggest declines on the day with a drop of 1.84%. United Health Group (UNH), though, did well with gains of 1.69%, and American Express (AXP) also rose 1.44% today.
Outside the Dow, Atossa Genetics (ATOS) saw a small increase of 0.79%.
Two major financial institutions – Goldman Sachs (GS) and Bank of America (BAC) – released their quarterly reports today, and although many were braced for some less than good news, both exceeded expectations. Goldman Sachs beat profit expectations, boosted by an unexpected performance by the investment banking division. The report didn’t go unnoticed, as Goldman Sachs topped the Dow companies with an outstanding spike of 9.63% to end the session.
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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