US stocks hit a snag on Wednesday and ended the session mixed after spending much of the day in the red. The S&P 500 was slipped 0.05% (1.52 points), while the Nasdaq managed to claw its way out of the red in the final moments of trading to end the day with gains of 0.07% (5.21 points). The Dow finished down 0.28% (72.82 points).
Several components of the Dow were down today, although a few did manage to break through with gains. Boeing (BA) was one of these companies as it saw an increase of 2.13% by the time trade ended. On the other hand, United Health Group (UNH) wasn’t as lucky. They saw shares tumble 4.99% throughout today’s session. The Home Depot (HD) was another of the losers with declines of 2.53% by the market’s close.
Atossa Genetics (ATOS) held onto gains today with an increase of 3.45%.
Global concerns contributed to the drag in the market today. Tensions between India and Pakistan continue to rise, especially after both countries now claim to have shot down each other’s fighter jets following an air strike by Indian on a militant training base in Pakistani controlled Kashmir. These escalating tensions brought down equities across the globe.
In Washington, US Trade Rep. Robert Lighthizer testified before the House Ways and Means Committee. He informed them of the progress with the China trade negotiations and discussed what would need to happen for a deal to be reached. He stated, “This administration is pressing for significant structural changes that would allow for a more level playing field – especially when it comes to issues of intellectual property rights and technology transfers. The issues on the table are too serious to be resolved with promises of additional purchases. We need new rules.”
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.
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