“Goin’ Down Under?” – Vista Partners Daily Market Recap 3/4/2019
After starting the session with gains, stocks dipped into the red on Monday and stayed there throughout the rest of the day. The three major indices pared some of the losses from earlier but were unable to break through to the positive side as the bears surely won out again today. The S&P 500 slipped 0.39% (10.88 points) while the Nasdaq fell 0.23% (17.79 points). The Dow had losses of 0.79% (206.67 points) as trade ended for the day.
Overall, components of the Dow were a mixed bag in terms of gains and losses. United Health Group (UNH) fell the farthest with a drop of 4.12%. Walgreens (WBA) also tumbled today, falling 2.81% by the time the market closed as negative headlines and pressures continued to swirl around prescription medicines and their providers. McDonald’s (MCD) wasn’t lovin’ it today as it saw losses of 2.41%.
Atossa Genetics (ATOS) also decline of 2.76%, putting it at $1.41 per share.
The decline in equities today followed a report that the U.S. and China were nearing a trade deal. According to the report, this deal would include both countries lowering or lifting tariffs and China agreeing to increase its purchase of American goods. The China-U.S. negotiations have been front and center for a while, with investors appetite for risk increasing and decreasing with the ebb and flow of headlines coming out of the talks.
Chris Beauchamp, an analyst with IG Group, noted, “The carrot of a trade deal is being dangled in front of investors once again. Hope that Trump and Xi will sit down later in the month to hammer out a resolution have buoyed equities, but given the outcome of last week’s U.S.-NK chit-chat perhaps a more sanguine approach would make sense.”
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.
Stay Informed! Stay Competitive! Sign Up to receive FREE email updates here!