“So Long 2018” – Vista Partners Daily Market Recap 12/31/2018
US stocks bid farewell to 2018 with a rally on Monday. The S&P 500 closed the session up 0.85% (21.11 points) and the Nasdaq finished 0.77% (50.76 points) higher. The Dow rose 1.15% (265.06 points) with a 137 point spike in the final minute of trading in this year’s final session.
Individual components of the Dow rose across the board today, with every company seeing gains. Goldman Sachs (GS) led the index as it rose 2.47%. Disney (DIS) was the second highest earner with gains of 2.19%, and Boeing (BA) rounded out the top three with an increase of 1.93%.
Outside of the index, Seattle based biotech firm, Atossa Genetics (ATOS) rose 3.03% to a price of $1.02 per share.
Today’s rise in the markets was fueled in part by some optimistic tweeting by the President in regards to the trade war with China, in which he noted that “had a long and very good call with President Xi [Jinping] of China. Deal is moving along very well…Big progress being made!” Despite today’s gains, 2018 still ended with all three of the major indices having significant losses. The Dow was 5.6% lower, the S&P 500 was down 6.2%, and the Nasdaq finished out the year down 3.9%. This marks the first time since 2008 that the market has closed the year down from the beginning (though this year’s losses were not nearly as extreme).
Here’s to a better year for all in the markets in 2019!
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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