“An Eye on the Prize” – Vista Partners Daily Market Recap 4/29/2019
After finishing up a week of records, the market looked to continue making gains today. The Nasdaq climbed 0.19% (15.46 points) today while the Dow ended the session up 0.04% (11.06 points). The S&P 500 hit an intraday high, although it pared some of those gains, closing out the day with an increase of 0.04% (11.06 points). Individual components of the Dow were split fairly evenly today between those seeing losses and those seeing gains. The biggest drag on the index during the session was Intel (INTC), as its stock slipped 2.52%. On the other hand, Goldman Sachs (GS) was pulling it up with gains of 1.89%. JPMorgan (JPM) also worked to lift the Dow today as it increased 1.44% by the time the market closed. Seattle-based biotech & breast cancer treatment focused firm Atossa Genetics (NASDAQ: ATOS) slipped just a bit today, falling 0.67% after pushing significantly forward last week. One of the largest publicly traded hospital companies in the US, Community Health Systems (NYSE: CYH) will announce its Q1 results on Tuesday, April 30th after the close. The company will broadcast a conference on May 1, 2019, at 11 am eastern at www.chs.net. The company has been pushing to delever its balance sheet and shed underperforming hospitals and seems to be making progress. Fate Therapeutics, Inc. (NASDAQ: FATE), a clinical-stage biopharmaceutical company dedicated to the development of programmed cellular immunotherapies for cancer and immune disorders, closed today’s trading at $17.49/share up +.87%. Although there wasn’t a ton today in the way of market-moving news, investors have plenty to watch for throughout the rest of the week. Four more Dow Jones companies (Apple (AAPL), Dow (DOW), Pfizer (PFE), and Merck (MRK)) will be reporting earnings tomorrow while many more S&P 500 companies will do so during this week’s sessions. In addition, the Fed will likely steal the spotlight on Wednesday as it releases its policy statement. On Friday, the jobs report will come out for April, helping to paint a picture of how the domestic economy is doing. 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!