“Tapped Out…Or Not” – Vista Partners Daily Market Recap 2/8/2019
The market seemed to be “tapped out” of its optimism on Friday but managed to bounce back just as the trading session was ending. The S&P 500 finished out the session up 0.07% (1.83 points) while the Nasdaq managed to squeak into gains territory with an increase of 0.14% (9.85 points) for the day. The Dow was the only one of the three major indices that didn’t make it out of the red and closed the session down 0.25% (63.20 points).
Individual components of the Dow were fairly evenly mixed in regards to their performance today. UnitedHealth Group (UNH) led the losers for the session as it tumbled 2.64%. Walgreens (WBA) also saw a slide today, dropping 1.52%. On a happier note, United Technologies (UTX) saw the biggest gains with an increase of 1.47% by the time the market closed.
After substantial gains yesterday, Atossa Genetics (ATOS) was unable to hold on to those today. The company plummeted 8.24%.
While this marks the seventh straight week of gains for the market, not everything is looking bright. For one the possibility of reaching a trade deal with China seems to grow slimmer every day. After tweeting last month that he wouldn’t sign a new trade deal until he had met with the Chinese President, President Trump today answered reporters that he would not be having this meeting before March 1. This inability to reach a deal is a major concern to investors and has been highlighted by several companies in their recent earnings reports as a factor that has led to results that didn’t meet expectations.
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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