“Up, Down, All Around” – Vista Partners Daily Market Recap 1/10/2019
US stocks were up, down, and all around as they had an especially volatile Thursday. After opening the day in the red, the market flip-flopped between gains and losses before finally ending up. The S&P 500 managed to end the day with gains of 0.45% (11.68 points) while the Nasdaq rose 0.42% (28.99 points). By the market’s close, the Dow was up 0.51% (122.80 points).
Individually, components of the Dow were fairly evenly split between those seeing gains and those cutting losses. Boeing (BA) did best today with an increase of 2.55%, and Caterpillar (CAT) also did well with gains of 2.06%. On the other hand, Pfizer (PFE) saw the largest losses with a drop of 2.38%.
After a stunning performance yesterday, Atossa Genetics (ATOS) was unable to keep up the momentum and sank 10.63% by the end of today’s session.
Fed Chairman Jerome Powell continued to sound dovish today in an interview at the Economic Club of Washington. Despite warnings from some economists Powell insisted that the economy is “solid” and doesn’t see a recession happening in the coming year. In an olive branch to the bulls, he noted, “We have the ability to be patient and watch patiently and carefully as we watch the economy evolve.”
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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