NEW YORK, NY / ACCESSWIRE / October 8, 2018 / U.S. equities plunged on Friday as concerns over rising interest rates countered upbeat economic data. U.S. unemployment rate dropped to 3.7 percent, its lowest since 1969, while wages rose by 2.8 percent in September, compared to the last year of the same month. The Dow Jones Industrial Average fell 0.68 percent to close at 26,447.05, while the S&P 500 Index decreased 0.55 percent to close at 2,885.57. The Nasdaq Composite Index shed 1.16 percent to close at 7,788.45.
According to Peter Cardillo, chief market economist at Spartan Capital Securities, “Wages are definitely trending higher, which is an alarming point for the market. That will likely keep the bond market under pressure, which means that yields will move higher and the dollar will continue to strength. All of that will weigh on stocks.” “I’m cautiously optimistic about equities going forward, but we’re looking at a lot of volatility in the short term and I believe we’re entering a defensive market,” he added.
RDI Initiates Coverage on:
The Walt Disney Company
https://rdinvesting.com/news/?ticker=DIS
HUYA Inc.
https://rdinvesting.com/news/?ticker=HUYA
The Walt Disney's stock moved 1.16% lower Friday, to close the day at $114.78. The stock recorded a trading volume of 5,836,074 shares, which was below its three months average volume of 6,998,221 shares. In the last year, The Walt Disney's shares have traded in a range of 96.80 - 118.10. The share price has gained 18.57% 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 $112.36 is above its 200-day moving average of $106.75. Shares of the company are trading at a Price to Earnings ratio of 14.49. Shares of The Walt Disney have gained roughly 3.43 percent in the past month and are up 6.76 percent year-to-date.
Access RDI's The Walt Disney Company Research Report at:
https://rdinvesting.com/news/?ticker=DIS
On Friday, shares of HUYA recorded a trading volume of 1,229,647 shares, which was below the three months average volume of 3,861,104 shares. The stock ended the day 3.62% higher at $21.76. The share price has fallen 57.18% from its 52 week high with a 52 week trading range of 15.25 - 50.82. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $25.49 is below its 200-day moving average of $29.46. Shares of HUYA have fallen roughly 17.1 percent in the past month and are up 35.49 percent year-to-date.
Access RDI's HUYA Inc. Research Report at:
https://rdinvesting.com/news/?ticker=HUYA
Our Actionable Research on The Walt Disney Company (NYSE:DIS) and HUYA Inc. (NYSE:HUYA) can be downloaded free of charge at Research Driven Investing.
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SOURCE: RDInvesting.com