“Holding Steady” – Vista Partners Daily Market Recap 1/30/2019
The Fed decided to hold the interest rate steady on Wednesday, and markets rose in response. The S&P 500 increased 1.55% (41.05 points) while the Nasdaq jumped 2.20% (154.79 points). By the time the market closed the Dow had risen 1.77% (434.90 points).
Most individual components of the Dow ended the day up. Apple (AAPL) released its earnings report after market close yesterday showing earnings of $4.18, missing estimates of $4.19. Shares rose today, though, increasing 6.83%. McDonald’s (MCD) reported their quarterly earnings this before the market opened and missed estimates by nearly ten cents – it’s earnings were $1.82 per share. Stocks today fell 0.22%. Boeing (BA) also reported earnings this morning of $5.48, beating estimates of $4.56. The company ended the session up 6.25%.
Atossa Genetics (ATOS) finished trading on the day up 0.77%.
The Fed today announced that they would not be hiking the interest rate, holding it at the current rate of 2.25% to 2.5%. In its report, it also reassured investors that future interest rates hikes are not automatic. “In light of the global economic and financial developments and muted inflation pressures, the Committee will be patient as it determines what future adjustments to the target range for the federal funds rate may be appropriate to support these outcomes.”
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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