“Just Out of the Red” – Vista Partners Daily Market Recap 4/8/2019
U.S. equities were down for much of the session on Monday although they did manage to rally just before the bell. The S&P 500 closed out the day up 0.10% (3.03 points) while the Nasdaq climbed 0.19% (15.19 points). The Dow wasn’t able to make it out of the red, though, and the index was down 0.32% (83.97 points) as of market close.
Individual components of the Dow Jones had a mixed bag of results today. Apple (AAPL) topped the leader board with gains of 1.57%, and Procter & Gamble (PG) also performed well with a 1.28% rise and once again above $200 closing at $200.10. The company is still off of its 52-week high of $233.47 but has now climbed for 9-straight days.
However, Boeing (BA) dragged the index down throughout the day. The aircraft manufacturer’s stock slid after announcing that it will be slashing production of its 737 MAX airplane by 20% by the middle of the month. This comes after that model of plane was involved in two fatal crashes within a couple of month span. The company ended the day down 4.42%.
On the other hand, Seattle-based breast cancer therapy focused biotech firm Atossa Genetics (ATOS) did fairly well today. The company’s stock had risen 2.63% by the time trade ended.
There are several things to keep an eye out for this week including Pinterest’s IPO. The company is planning to offer shares somewhere between $15 and $17 and will enter the NYSE with the ticker PINS. Earnings season will kick off later this week with Delta Airlines (DAL) reporting on Wednesday and JPMorgan (JPM) and Wells Fargo (WFC) set to report on Friday.
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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