NEW YORK, NY / ACCESSWIRE / January 15, 2018 / U.S. markets closed at record highs Friday, posting weekly gains, on investor optimism over the current earnings season. The Dow Jones Industrial Average jumped 0.89 percent to close at 25,803.19, up 2.0 percent for the week, while the S&P 500 Index gained 0.67 percent to close at 2,786.24, up 1.6 percent for the week. 8 out of the 11 sectors in the S&P 500 closed in the green. The Nasdaq Composite Index hiked 0.68 percent to close at 7,261.06, ended 1.75 percent over the week.
"The economy is looking good, numbers look good, and companies are making money. This quarter may be a little messy because of the tax bill, but there's so much optimism, so much enthusiasm about earnings," said Michael Matousek, head trader at U.S. Global Investors. "Things are really starting to take off, and the only thing that makes it scary is the idea that we may be culminating to a top in the market."
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Weibo Corporation's stock moved 1.26% higher Friday, to close the day at $121.44. The stock recorded a trading volume of 1,479,715 shares, which was below its three months average volume of 1,839,177 shares. In the last year, Weibo Corporation's shares have traded in a range of 45.40 - 123.00. The share price has gained 167.49% 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 $108.82 is greater than its 200-day moving average of $96.65. Shares of the company are trading at a trailing Price to Earnings ratio of 103.88. Shares of Weibo have gained roughly 19.26 percent in the past month and are up 17.38 percent year-to-date.
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On Friday, shares of Renren Inc. recorded a trading volume of 1,805,115 shares, which was above the three months average volume of 925,003 shares. The stock ended the day 6.78% lower at 11.42. The share price has gained 632.05% from its 52-week low with a 52-week trading range of 1.56 - 18.70.The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $10.88 is greater than its 200-day moving average of $8.85. Shares of Renren have gained roughly 10.34 percent in the past month and are up 9.91 percent year-to-date.
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