NEW YORK, NY / ACCESSWIRE / November 16, 2017 / U.S. markets dropped sharply Wednesday, with the Dow and S&P 500 posting its largest daily loss since September, as sliding oil prices dragged down the energy sector and concerns regarding the U.S. tax overhaul continued to grow. The Dow Jones Industrial Average fell 0.59 percent to close at 23,271.28, while the S&P 500 Index dropped 0.55 percent to close at 2,564.62. The Nasdaq Composite Index declined 0.47 percent to close at 6,706.21. On Wednesday, the U.S. Energy Information Administration reported domestic crude supplies increased by 1.9 million barrels for the week ended November 10th, compared to forecasts of a 1 million barrel decrease, according to analysts surveyed by S&P Global Platts.
“Now that the earnings season is wrapped up, markets are more beholden to macro data. Weakness in oil prices and skepticism about the passing of the tax bill are also weighing on sentiment,” said Karyn Cavanaugh, senior market strategist at Voya Financial.
RDI Initiates Coverage on:
Achillion Pharmaceuticals, Inc.
Aurinia Pharmaceuticals Inc.
Achillion Pharmaceuticals stock fell 17.89% Wednesday, to close the day at $3.03. The stock recorded a trading volume of 8,071,587 shares, which was above its three months average volume of 1,433,550 shares. In the last year, Achillion Pharmaceuticals shares have traded in a range of 2.95 - 5.66. The stock is currently trading 46.47% 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 $4.21 is below its 200-day moving average of $4.30. Shares of Achillion Pharmaceuticals have fallen roughly 33.99 percent in the past month and are down 26.63 percent year-to-date.
Access RDI's Achillion Pharmaceuticals, Inc. Research Report at:
On Wednesday, shares in Aurinia Pharmaceuticals Inc. recorded a trading volume of 2,914,598 shares, which was above the three months average volume of 1,185,958 shares. The stock ended the day 6.37% lower at 5.00. The share price has gained 147.52% from its 52-week low with a 52-week trading range of 2.02 - 10.54.The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $6.13 is below its 200-day moving average of $6.37. Shares of Aurinia Pharmaceuticals have fallen roughly 29.48 percent in the past month and are up 138.1 percent year-to-date.
Access RDI's Aurinia Pharmaceuticals Inc. Research Report at:
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