NEW YORK, NY / ACCESSWIRE / February 20, 2018 / U.S. markets closed Friday with weekly gains in the range of 4 percent to 5 percent. The Dow Jones Industrial Average gained 0.08 percent to close at 25,219.38, while the S&P 500 increased 0.04 percent to close at 2,732.22. Both, Dow and S&P 500 were up 4.3 percent for the week. The Nasdaq Composite Index dropped 0.23 percent to close at 7,239.47, however posting weekly gains of 5.3 percent. With trading closed on Monday to celebrate President's Day, investors had some time to analyze recent events.
"Events over the past few weeks serve as a salutary reminder of both the dangers of crowded positions and of the power of technical forces when combined with consensual positioning," said Erin Browne, head of asset allocation at UBS.
RDI Initiates Coverage on:
United States Steel Corp.
Century Aluminum Company
United States Steel's stock jumped 14.77% Friday, to close the day at $44.75. The stock recorded a trading volume of 38,978,747 shares, which was above its three months average volume of 11,186,485 shares. Tariff talks and the expectation that President Trump will not shy away from tariff has got traders excited. In the last year, United States Steel's shares have traded in a range of 18.55 - 45.44. The share price has gained 141.24% 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 $38.18 is greater than its 200-day moving average of $30.08. Shares of United States Steel are trading at a Price to Earnings ratio of 20.43. Shares of United States Steel have gained roughly 15.42 percent in the past month and are up 27.17 percent year-to-date.
Access RDI's United States Steel Corp. Research Report at:
On Friday, shares of Century Aluminum recorded a trading volume of 4,969,947 shares, which was above the three months average volume of 2,210,680 shares. The stock ended the day 8.31% higher at 24.12 on the news that President Trump is considering imposing tariffs and quotas to protect the American industry from metal dumping. The share price has gained 114.21% from its 52-week low with a 52-week trading range of 11.26 - 24.77. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $21.81 is greater than its 200-day moving average of $17.49. Shares of Century Aluminum have gained roughly 8.94 percent in the past month and are up 22.81 percent year-to-date.
Access RDI's Century Aluminum Company Research Report at:
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