After slumping yesterday, stocks ended the session higher on Wednesday. The S&P 500 saw gains of 0.35% (10.01 points) while the Dow managed to squeak out a win by closing out the day up 0.03% (6.58 points). The Nasdaq hit a year-to-date high as of closing by ending the session up 0.69% (54.97 points).
Once again, individual components of the Dow were split fairly evenly between those seeing gains and those seeing losses. Goldman Sachs (GS) led the way with an increase of 1.18%, and Cisco (CSCO) rallied 1.16% by the time trade ended today. Boeing (BA) finished out the session with losses after it fell 1.11%.
Seattle-based biotech Atossa Genetics (ATOS) managed to hold on to its gains today and ended the day with an increase of 0.33%.
Palo-Alto-based cybersecurity firm Finjan (FNJN) jumped up 4.11% closing at $3.04 just off the high of the day $3.07/share. Recent headlines indicate that they are making traction in the courts with their patent infringement cases against Cisco (CSCO), Juniper Networks (JNPR) and Bitdefender.
The FOMC’s minutes from their March meeting were released today. The meeting ended with the committee’s decision to leave interest rates unchanged to virtually no one’s surprise. The minutes highlighted the group’s continuing commitment to staying flexible and making decisions based on the data. The “dovish” fed commentary is certainly flying high these days. Should we be looking out below?…
The minutes stated, “Several participants noted that their views of the appropriate target range for the federal funds rate could shift in either direction based on incoming data and other developments.”
March’s CPI data was also released this week showing that core CPI was up 0.1% from the previous month which was less than the 0.2% that economists had predicted. Also, compared to the year before, the number was up 2% – just under the 2.1% that was expected.
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!