NEW YORK, NY / ACCESSWIRE / September 13, 2018 / U.S. markets were mixed on Wednesday as technology shares declined, dragging the Nasdaq into the red. The Dow Jones Industrial Average climbed 0.11 percent to close at 25,998.92, while the S&P 500 Index jumped 0.04 percent to close at 2,888.92. The Nasdaq Composite Index dropped 0.23 percent to close at 7,954.23. Additionally, Apple’s revealing of its new products the iPhone XS, iPhone XS Max and iPhone XR, didn’t trigger an increase in shares.
According to J.J. Kinahan, chief market strategist at TD Ameritrade, “There’s not any great big news to trade on, so it’s likely we’ll primarily be moving on headlines, which means we can be up one hour and then moving down the next.”
“You have to separate a natural selloff from one driven by a real change in the market. It makes sense that we could see some selling after a remarkable year and a half, especially in areas like tech that have done well. But I don’t see a tone change in the market; the numbers continue to point to a strong economy,” Kinahan added, referring to latest market weakness.
RDI Initiates Coverage on:
Sprint Corporation
https://rdinvesting.com/news/?ticker=S
T-Mobile US, Inc.
https://rdinvesting.com/news/?ticker=TMUS
Sprint's stock jumped 3.78% Wednesday, to close the day at $6.31. The stock recorded a trading volume of 15,171,543 shares, which was above its three months average volume of 9,746,906 shares. In the last year, Sprint's shares have traded in a range of 4.81 - 8.55. The share price has gained 31.19% from its 52 week low. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $5.94 is above its 200-day moving average of $5.52. Shares of the company are trading at a Price to Earnings ratio of 3.50. Shares of Sprint have gained roughly 4.64 percent in the past month and are up 7.13 percent year-to-date.
Access RDI's Sprint Corporation Research Report at:
https://rdinvesting.com/news/?ticker=S
On Wednesday, shares of T-Mobile US recorded a trading volume of 4,721,281 shares, which was above the three months average volume of 2,990,843 shares. The stock ended the day 3.05% higher at $67.92. The share price has fallen 0.59% from its 52 week high with a 52 week trading range of 54.60 - 68.32. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $64.19 is above its 200-day moving average of $61.21. Shares of the company are trading at a Price to Earnings ratio of 12.49. Shares of T-Mobile US have gained roughly 4.52 percent in the past month and are up 6.94 percent year-to-date.
Access RDI's T-Mobile US, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=TMUS
Our Actionable Research on Sprint Corporation (NYSE:S) and T-Mobile US, Inc. (NASDAQ:TMUS) can be downloaded free of charge at Research Driven Investing.
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SOURCE: RDInvesting.com