Two of the three major US indices ended the day with gains on Thursday, bringing January to a close and marking a solid start to 2019. The S&P finished up 0.86% (23.05 points) making this the best January it has seen since 1987. The Nasdaq rose 1.37% (98.66 points). The Dow started the day in the red but rose throughout much of the day. Unfortunately, it ended just shy of breaking through to the green and finished with a loss of 0.06% (15.19 points).
Individual components of the Dow saw a wide range of outcomes today. Microsoft (MSFT) , which reported earnings yesterday after market close of $1.10 per share (missing the estimate of $1.128), saw shares sink 1.83%. DowDuPont (DWDP) released their quarterly report before the market opened this morning showing earnings of $0.88, which was right on track with estimates. Despite this, DowDuPont stock tumbled 9.23% today. On the other hand, Pfizer (PFE) rose 2.98%.
Outside the Dow, Atossa Genetics (ATOS) sank 2.26% – ending the day at $1.30 per share.
January’s overall success in the market stands in stark contrast to stocks’ performance in December, which ended up being the worst in 87 years. Ryan Detrick with LPL Financial noted, “Stocks have bounced back in a spectacular fashion.” He also predicted that we may even see new highs sometime in the coming year.
“Positive news from the Federal Reserve and China trade talks, as well as the realization by investors that the odds of a recession in 2019 are quite low could spark potential new highs.”
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.
Stay Informed! Stay Competitive! Sign Up to receive FREE email updates here!