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Broad Markets Pause While Robust Biotech Mergers Surface! Vista Partners Daily Market Recap For Dec. 9, 2019

  • Published Dec 09, 2019
By John F. Heerdink, Jr.
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The broad markets on Monday took a pause after last Friday’s surge. It would seem that markets’ participants may be waiting for the confirmation on Wednesday that the Fed will be holding interest rates steady after the 2019’s three earlier cuts. There is also a looming little issue/deadline weighing on the market coming up on Sunday, Dec. 15 when ~$165B of Chinese imports will currently be hit with 15% tariffs from the good O’ USA unless dealt with otherwise this week. The S&P 500 ended the day down -.32% as the S&P 500 as the health sector (-.7%) was the negative leader while consumer staples (+.2%) & real estate (+.1%) were in positive territory. The Dow Jones Industrial Average ended down -.38%, the Nasdaq Composite lost -.40%, & the Russell 2000 decreased -.26% at the close of trading. The “fear gauge” Vix (TVIX) jumped to $70.15/share at the close up +10.21% as confidence reigned today.

Economic Reports

No material economic data surfaced today but Federal Reserve is widely expected to leave interest rates alone on Wednesday when it meets this week.

 

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