“Trading Up” – Vista Partners Daily Market Recap 1/8/2019
US stocks rallied again on Tuesday, despite some uncertainty early in the session. The rise was fueled by optimism as investors await the outcome of the current trade talks happening in Beijing between US and Chinese officials. Despite a brief dip into the red this morning, the Nasdaq ended the day up 1.08% (73.53 points), and the S&P 500 rose 0.97% (24.72 points). The Dow saw gains of 1.09% (256.10 points) by the time the market closed.
Individually, most components of the Dow saw gains today. A select few, though, saw declines with Chevron (CVX) seeing the biggest drop of 0.44%. On the other hand, Boeing (BA) led the index in gains with a rise of 3.79%, and Verizon (VZ) had a good day with an increase of 2.93%.
Atossa Genetics (ATOS) and Fate Therapeutics (FATE) two development state biotech firms also did well today during Day 2 of JPMorgan’s annual healthcare conference in San Francisco. ATOS rose 2.50% to end the day at $1.23 per share and FATE jumped 3.75% and closed at $17.17.
While stocks continued to edge higher on Wall Street today, the NFIB Small Business Optimism Index dropped a little for the month of December, as it fell from November’s 104.8 to 104.4. Although, it was a drop, this reading was still over a point higher than the 103.0 that was expected by the group of economists polled by Bloomberg.
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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