Ian Shepherdson with Pantheon Macroeconomics noted, “Overall, these data signal a clear increase in total consumers’ spending in January.”Tomorrow CPI data for February will likely play a key roll in the direction the market takes, with analysts expecting a 0.2% increase from January. And any developments in the U.S-China trade talks could help to move equities – either positively or negatively. 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!
“Turnaround” – Vista Partners Daily Market Recap 3/11/2019
US equities had a sharp turnaround on Monday after several sessions of losses dragged the market down last week. The S&P 500 climbed 1.47% (40.23 points) throughout the day, and the Nasdaq increased 2.02% (149.92 points). The Dow started the session out with losses but by the time the market closed, it was up 0.79% (200.64 points). Initially, the Dow was dragged down by Boeing’s (BA) losses after Sunday’s deadly 737 Max 8 aircraft crash. At one point in the session, the company declined to 13.5% but had pared losses to 5.33%. Every other component of the Dow saw gains today. Apple (AAPL) led the way with an increase of 3.46% while the 3M Company (MMM) rose 3.09%. Atossa Genetics (ATOS) rode the wave of increases today to finish the session up 0.67%. The morning started off well with the Census Bureau reporting the January retail sales had beat expectations. Retail sales of a control group that doesn’t include things like food services and gasoline stations increased 1.1% in January, much better than the 0.6% rise that had been predicted.