“Record Highs” – Vista Partners Daily Recap 4/23/2019
U.S. equities were full steam ahead on Tuesday, as they rose and lifted the market to record highs. The S&P 500 climbed 0.88% (25.71 points) while the Nasdaq also rose 1.32% (105.56 points). The Dow ended the session with gains of 0.55% (145.34 points). Four Dow Jones companies reported earnings today. Coca Cola (KO) reported this morning that they had earnings of $0.48 which were just about 1 cent above what analysts had predicted. The company ended the day up 1.71%. Also reporting before the session was Procter & Gamble (PG) which had quarterly earnings of $1.06, which was right on target. By market close, they had sunk 2.69%. United Technologies (UTX) reported earnings of $1.91 per share, beating estimates of $1.82. The report gave them a 2.27% boost during today’s session. After the market closed, Verizon (VZ) reported that they had beat Wall Street’s expectations with earnings per share of $1.22. This was after they ended the day down 2.09% Atossa Genetics (ATOS) the Seattle based biotech firm focused on developing treatments for breast cancer did very well again today. The company’s stock shot up 11.42%, ending the yesterday at $2.83 per share and then today shares closed at $3.48 up 22.97% after reaching intraday high of $3.92/share on 12.8 Million shares of trading. These better than expected results helped to lift the market to new heights today. Both the S&P 500 and the Nasdaq broke their closing high records with the S&P ending the day at 2,933.68 and the Nasdaq clocking in at 8,120.82. But it’s not all sunshine and rainbows. Greg McBride, a chief financial analyst with Bankrate, warned, “This market is not a bargain hunter’s paradise. Be prepared for a return of volatility and for returns to be harder-earned than what we’ve seen thus far in 2019.” 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!