“Flexibility” – Vista Partners Daily Market Recap 2/13/2019
US stocks were on the rise again on Thursday along with investor’s appetite for risk as President Trump signaled that he’s willing to remain flexible in regards to trade negotiations with China. The S&P 500 climbed 0.30% (8.30 points) while the Nasdaq rose 0.08% (5.76 points). By the time the market closed, the Dow had gained 0.46% (117.51 points).
Individual components of the Dow were mixed today, although more leaned toward the positive end of the spectrum. 3M (MMM) saw the largest gains today as it rose 1.60% to end the session. In second place was Home Depot (HD) with an increase of 1.43%, and coming in third with gains of 1.18% was Walgreens (WBA).
Atossa Genetics (ATOS), a Seattle based biotech firm focused on treatments of breast cancer, had another day of gains today with an increase of 6.58% along with a surge of trading volume.
One of the major headlines today came from President Trump’s comment that he would be open to extending the March 1 deadline to reach a deal with China. Although a deal could still be reached after March 1, that is when the cease-fire ends and the President has previously threatened to raise tariffs if something could not be worked out before that date. This flexibility helped calm investors fears of the trade war ramping up again when it seems like a deal might finally be in sight.
In market news today, Levi Strauss plans to enter the market using the ticker “LEVI” on the NYSE. The clothing company has not worked out all the details like the price range and number of shares that will be offered, but they have filed for an initial public offering. Stay tuned!!
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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