“Flat” Vista Partners Daily Market Recap 3/20/2019
Stocks in general today market drifted lower this morning, bounced midday after the FOMC meeting, made their decision to stay pat and not raise interest rates, but the markets proceeded to drop again to close lower. The Nasdaq however ended slightly up 0.07% (5.02 points), the S&P 500 was down .29% (8.34 points) & the Dow dropped a solid 0.55% (141.71 points). The Fed significantly revised their rate path and stated they expected no interest rate hikes in 2019, will slow their roll off of its balance sheet & conclude in September while citing that the labor market remains strong but the economy has slowed from its solid rate in the fourth quarter. The "dove" was solidly flying at the Fed today. Dow 30 component Apple (AAPL) notched higher .87% and closed at $188.16, while 3M (MMM) closed at $208.30/share down .34% & Boeing (BA) bounced to close $376.16/share up .73% on the day. Atossa Genetics (ATOS), a Seattle-based biotech firm focused developing treatments for breast cancer, ticked down 4.49% closing at $4.04/share after trading another 2.03 Million shares.
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