“Uncertain, But Rising” – Vista Partners Daily Market Recap 11/30/2018
US stocks were somewhat uncertain on Friday but ended the day rising. All three of the major indexes ended the day with gains. The S&P 500 rose 0.82% (22.41 points), and the Nasdaq increased 0.79% (57.45 points). The Dow also gained 0.79% (199.62 points) by the end of the session. This week’s gains for the S&P 500 mark the strongest week the index has had since December 2011.
Most components of the Dow saw gains today, although some weren’t so lucky. Goldman Sachs (GS) stood out with the biggest losses as it slipped 2.13% as it continues to deal with the ongoing potential negative scenarios related to 1MDB as the Malaysian government has sought refunds for fees paid the bank. Caterpillar (CAT), though, had a very nice day as it saw shares increase 4.18% by market close. Intel (INTC) also had substantial gains as it rose 3.38%.
Outside the Dow, Atossa Genetics (ATOS) ended the day just in the red with a loss of 0.87% for the day.
With oil seeing its largest losses in 10 years this month and the trade relationship with China still tense, all eyes are on the G20 summit meeting in Buenos Aires this weekend. President Trump and Chinese President Xi are set to have dinner on Saturday to discuss the trade war and hopefully come to some sort of agreement. Robert Lighthizer, a US Trade Representative, spoke to reporters and said that he’d “be very surprised if the dinner was not a success.” We are not so convinced….
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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