NEW YORK, NY / ACCESSWIRE / January 19, 2018 / U.S. markets slumped Thursday as investors digested the possibility of a government shutdown on Friday. The Dow Jones Industrial Average fell 0.37 percent to close at 26,017.81, while the S&P 500 Index declined 0.16 percent to close at 2,798.03. The Nasdaq Composite Index decreased 0.03 percent to close at 7,296.05. To avoid a government shutdown Congress will need to pass to pass a spending bill by the end of Friday.
"I wouldn't be surprised if markets made a small retreat, or at least took a breather given the threat of a shutdown this weekend. Avoid a shutdown and much of the enthusiasm for equities will be driven by corporate results which have, so far, been supportive of this rally," said Lee Wild, head of equity strategy at Interactive Investor, in emailed comments to MarketWatch.
RDI Initiates Coverage on:
Applied Optoelectronics , Inc.
Applied Optoelectronics stock moved 3.56% lower Thursday, to close the day at $32.79. The stock recorded a trading volume of 1,628,164 shares, which was above its three months average volume of 1,560,077 shares. In the last year, Applied Optoelectronics shares have traded in a range of 29.40 - 103.41. The stock is currently trading 68.29% below its 52 week high. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $39.21 is below its 200-day moving average of $55.72. Shares of Applied Optoelectronics are trading at a trailing Price to Earnings ratio of 7.70. Shares of Applied Optoelectronics have fallen roughly 16.5 percent in the past month and are down 13.3 percent year-to-date.
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On Thursday, shares of Oclaro recorded a trading volume of 4,000,744 shares, which was below the three months average volume of 5,614,085 shares. The stock ended the day 1.61% lower at 6.71. The stock is currently trading 40.62% below its 52-week high with a 52-week trading range of 5.87 - 11.30. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $7.03 is below its 200-day moving average of $8.10. Shares of Oclaro, Inc. are trading at a trailing Price to Earnings ratio of 7.69. Shares of Oclaro have fallen roughly 4.82 percent in the past month and are down 0.45 percent year-to-date.
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