Michael Pearce, with Capital Economics, explained his take on the data. He said, “Neither of those are particularly compelling reasons to be upbeast about economic prospects this year, but the figures do at least confirm that net trade provided a substantial positive contribution to first-quarter GDP growth.”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!
“On Their Toes” – Vista Partners Daily Market Recap 4/17/2019
The market kept investors’ on their toes today as it fluctuated several times throughout the session, bouncing between gains and losses. The S&P 500 finished out the day with a loss of 0.23% (6.63 points). The Nasdaq also found itself in the red as the final bell rang with a drop of 0.05% (4.15 points). The Dow managed to break into the green but dipped just as the session was ending and closed down 0.01% (3.26 points). Although no Dow 30 companies reported earnings today, IBM (IBM) felt the repercussions from its disappointing results that were released after the market closed Tuesday evening. Its stock tumbled today, dropping 4.13% by the end of the session. Merck & Co. (MRK) also slipped, falling 4.86% before the market closed. On the other hand, Intel (INTC) was up nicely 3.24% to finish out the session. Outside the Dow, Seattle-based biotech firm Atossa Genetics (ATOS) also took a bit of a slide today. By the time trade ended, it was down 1.87%. The U.S. Census Bureau released their trade deficit report today, showing that the trade gap continued to shrink in February. It closed to $49.4 billion in February, close to $2 billion less than the January figure. The fall was not expected, though, with consensus expectations for the trade to the deficit to start growing again and be around $53.4 billion. The deficit decline can be attributed mostly to an increase in civilian aircraft exports and only a minor increase in imports.