“Slipping” – Vista Partners Daily Market Recap 3/8/2019
U.S. equities slipped once again on Friday, making this the fifth session in a row that the market has seen losses – a full week in the red. The Nasdaq fell 0.18% (13.32 points) while the S&P 500 ended the session with losses of 0.21% (5.86 points). The Dow also sank and the day down 0.09% (22.99 points).
Most individual components of the Dow ended the day in the red, although some companies did see gains. After rising yesterday, Exxon Mobil (XOM) fell the furthest of any of the Dow components with a 1.43% slide. Coca Cola (KO) also mbled, ending the day with losses of 0.97%. Pfizer (PFE) took the third largest dip with a decrease of 1.21%.
Atossa Genetics (ATOS), on the other hand, did quite well today. The company increased 3.45% by the time the market closed after hitting an intraday high of $1.70 on better than 696,000 shares of trading volume.
A lackluster job report helped to drag the market lower today. According to the Bureau of Labor Statistics’ report, the U.S. added only 20,000 jobs in February. This is a far-cry from economists expectations of 180,00 new positions to be added. The slower jobs growth comes in conjunction with reports showing that several sectors appear to be weakening, especially the manufacturing sector. The good news, though, was that unemployment dropped from 4% in January to 3.8% in February, and average hourly earnings also ticked up.
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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