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“High Hopes” – Vista Partners Daily Market Recap 2/12/2019

By John F. Heerdink, Jr.
Investors’ high hopes led to a jump in US stocks on Tuesday, with all three of the major indices ending the day up. As the market closed, the S&P 500 was up 1.29% (34.93 points), marking its highest closing level since the beginning of December. The Nasdaq was up 1.46% (106.71 points) while the Dow rose 1.49% (372.65 points). Except for a couple of outliers, the Dow companies were up across the board today. Caterpillar (CAT) raked in the biggest gains with an increase of 2.88%. The 3M Company (MMM) was close behind as it rose 2.80% during the session. The company with the third best day was DowDuPont (DWDP) as it saw gains of 2.60%. Outside the Dow, Atossa Genetics (ATOS) had another good day with an increase of $0.10 or a 7.04% change as it closed at $1.52. Hopes today were buoyed by what appears to be an increase in the likelihood of President Trump and Chinese President Xi Jinping meeting in the near future to settle a trade deal between the two countries. Although trade representatives have continued negotiating, Trump last week shot down the idea that he may meet with Xi before the March 1 deadline that ends the ceasefire in the trade war. In a Fox News interview on Monday, Kellyanne Conway said Trump “wants a deal” and “wants to meet with President Xi very soon.” These remarks helped calm investor’s nerves.
Joshua Mahoney, a market analyst at IG Group, wrote, “Much of the optimism we have seen in global markets overnight and into this morning centers around the Chinese optimism that a deal could be done in time, with negotiations ramping up as the week progresses. While Trump may not meet his Chinese couterpart before the March 1 deadline, Thursday’s meeting…points towards a willingness to come to an agreement.”
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!

S&P 500 closes at highest level since Dec. 3

Stocks jumped on optimism for a U.S.-China trade deal and a potential agreement among U.S. congressional negotiators to try and avoid another partial government shutdown… finance.yahoo.com
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