“Jobs Galore” – Vista Partners Daily Market Recap 2/1/2019
US stocks slipped throughout the day on Friday before finally ending mixed. The S&P 500 and the Dow saw small gains while the Nasdaq fell into the red. The S&P 500 was up 0.08% (2.13 points) at the market’s close while the Nasdaq was down 0.25% (17.87 points). The Dow pared early gains to finish the session up 0.24% (59.47 points) now sitting soundly above 25k at 25,063.89. Probably a great time to take a peek at your 401k’s accounts again!!!
More Dow 30 components reported their quarterly results before the market opened today. Chevron (CVX) missed the mark on its earnings by a couple of cents, but shares still rose today. It ended the day up 3.24%. Exxon Mobil (XOM) reported that its earnings for the last quarter were $1.41 per share, beating estimates of $1.13 by quite a bit. Like Chevron, they saw shares increase by 3.60%. The final Dow company to report today was Merck (MRK) with earnings that also missed estimates by a couple of cents. The company closed out the session up 2.65%.
Moving our attention away from the Dow, Atossa Genetics (ATOS) did very well today with an increase of 4.62%.
One of the big headlines today came in the form of a very strong US jobs report for January. While consensus estimates had expected that the US would add 165,000 jobs, the Bureau of Labor Statistics reported the actual figure to be about 304,000 positions. Despite the impressive numbers, unemployment rose to 4.0% from its 3.9% December level. This can be contributed somewhat to the government shutdown, with those workers who found themselves temporarily laid off skewing the numbers a bit.
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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