Two California Biotech Firms Fly! Kodiak Sciences ($73.41, +49.21%) & Allakos ($137.73,+43.56%) As US Markets Claw Back – Vista Partners Daily Market Recap 12/4/19
- Published Dec 04, 2019

The markets devoured a more palatable bit of news today regarding the US-China trade war saga that surprisingly confirmed that we once again are in a position to possibly see a deal closed soon vs. what we heard yesterday. This comforting news was enough to increase confidence and the markets clawed back from the opening bell today across the board. The S&P 500 ended the day down +.63%, the Dow Jones Industrial Average ended up .53%, the Nasdaq Composite gained +.54%, & the Russell 2000 jumped +.7% at the close of trading. As fears subsided today overall the “fear gauge” Vix (TVIX) dropped to $70.19/share at the close off -9.13%. 1o of eleven S&P 500 sectors closed in positive territory as the energy sector (+1.6%) led the way while the materials sector was the lone hold out in negative territory (-.04%).
Economic Reports
On Monday, the ISM Manufacturing Index report for November confirmed a 48.1% reading vs. a 48.3% reading for October still south of the Mendoza line for expansion. The total construction spending report showed a decrease of -.8% month/month in October.
On Tuesday, we did not receive any economic reports of significance.
On Wednesday, we received the ISM Non-Manufacturing Index report dropped to 53.9% in November. The ADP Employment Report for November also confirmed that ~67k positions were added to private-sector payrolls. The weekly MBA Mortgage Applications Index decreased by -9.2%.
Investing & Inspiration
“Invest in yourself. Your career is the engine of your wealth.” – Paul Clitheroe
After the Market Closed
Progyny (PGNY) a fertility benefits manager that recently completed their IPO at $13/share announced its Q3 result after the close exceeding Wall Street expectations. PGNY ‘s revenueskyrocketed+ 120% at $61.2M. Shares closed at $26.34/share and are up 4.4% in the aftermarket.
Videos
A Tedx Talk by Steven Quay CEO of Atossa Genetics (NASDAQ: ATOS)
“How to Be Smart When You’re dense: Preventing Breast Cancer By 2030”
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