NEW YORK, NY / ACCESSWIRE / July 16, 2018 / U.S. equities closed up on Friday and posted its 2nd consecutive weekly gain, as investors continue to focus on a strong start to the earnings season. While the Dow reclaimed its above 25,000 levels after almost a month Nasdaq is at a record high. The Dow Jones Industrial Average gained 0.38 percent to close at 25,019.41, while the S&P 500 Index increased 0.11 percent to close at 2,801.31. The Nasdaq Composite Index climbed 0.03 percent to close at 7,825.98. For the week, the Dow Jones hiked 2.3 percent, while the S&P 500 jumped 1.5 percent, and the Nasdaq finished 1.8 percent higher.
According to Anthony Saglimbene, global market strategist at Ameriprise Financial, “We're pretty positive on the overall market; the 20% profit growth we're expecting this quarter should be a fundamental anchor for stocks. But while financials have a good outlook, the results we saw today were mixed and the sector's growth will probably underperform the S&P 500 this quarter.”
RDI Initiates Coverage on:
General Motors Company
General Motors' stock moved 0.23% higher Friday, to close the day at $39.36. The stock recorded a trading volume of 5,152,759 shares, which was below its three months average volume of 10,820,765 shares. In the last year, General Motors' shares have traded in a range of 34.50 - 46.76. The share price has gained 14.09% from its 52 week low. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $41.48 is above its 200-day moving average of $39.95. Shares of General Motors have fallen roughly 10.36 percent in the past month and are down 3.98 percent year-to-date.
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On Friday, shares of Tesla recorded a trading volume of 5,875,770 shares, which was below the three months average volume of 8,238,285 shares. The stock ended the day 0.68% higher at $318.87. The share price has fallen 18.16% from its 52 week high with a 52 week trading range of 244.59 - 389.61. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $326.28 is above its 200-day moving average of $317.03. Shares of Tesla have fallen roughly 10.97 percent in the past month and are up 2.42 percent year-to-date.
Access RDI's Tesla, Inc. Research Report at:
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