“Just A Hair” – Vista Partners Daily Recap 12/18/2018
US stocks were up by just a hair as the market closed on Tuesday after the market pared some of its earlier gains and even dipped briefly into the red. The S&P 500 was up just 0.01% (0.22 points) and the Nasdaq had gains of 0.45% at the end of the session. The Dow also saw minor gains, ending the day up 0.35% (82.66 points).
The results of individual components of the Dow were a mixed bag. Boeing (BA) led the day with gains of 3.77%. Meanwhile on the opposite end of the spectrum, Exxon (XOM) was the big loser today as it slid 2.76%. Chevron (CVX) didn’t fare much better as it saw losses of 2.41%.
After large losses yesterday, Atossa Genetics (ATOS) ended today’s session at the same level that it opened at ($1.15 per share).
Across the globe, though, equities didn’t fare as well. Asian stocks plunged after Chinese President Xi Jinping’s speech in which he promised “miracles” for the Chinese economy but left out the particulars of how they would occur. Europe also saw declines.
Today marked the start of the FOMC meeting, in which policymakers will decide on whether to hike the interest rate for the fourth time this year. That decision is a highly anticipated one and will be announced tomorrow after the meeting ends. Fed Chairman Jerome Powell’s comments to the press at the conclusion could also have an impact on how the market reacts to whatever decision is made.
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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