NEW YORK, NY / ACCESSWIRE / February 26, 2018 / U.S. market rallied on Friday as investors awaited an update on interest rates from the Federal Reserve. The Dow Jones Industrial Average was up by 1.39 percent to close at 25,309.99, benefiting from gains in companies like Goldman Sachs Group, while the Nasdaq Composite Index spiked 1.77 percent to close at 7,337.39. The S&P 500 Index jumped 1.60 percent to close at 2,747.30, with the utilities sector closing up above 2 percent and telecommunication closing above 1%.
"I think it was very impressive move for stocks [Friday] after seeing these heavy market selloffs," said J.J. Kinahan, chief strategist at TD Ameritrade. He also said that the monetary policy update and dovish comments from the Fed helped relieve market tension. "I think we are set up for an interesting Monday morning. Can we build on this momentum and go forward or is this as quick fade," Kinahan added.
RDI Initiates Coverage on:
Newfield Exploration Company
Diamond Offshore Drilling, Inc.
Newfield Exploration's stock jumped 5.12% Friday, to close the day at $24.66. The stock recorded a trading volume of 6,302,475 shares, which was above its three months average volume of 2,999,552 shares. In the last year, Newfield Exploration's shares have traded in a range of 22.96 - 37.61. The stock is currently trading 34.43% 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 $30.47 is greater than its 200-day moving average of $29.44. Shares of Newfield Exploration are trading at a Price to Earnings ratio of 11.58. Shares of Newfield Exploration have fallen roughly 27.06 percent in the past month and are down 21.79 percent year-to-date.
Access RDI's Newfield Exploration Company Research Report at:
On Friday, shares of Diamond Offshore Drilling recorded a trading volume of 2,152,267 shares, which was above the three months average volume of 1,737,357 shares. The stock ended the day 5.07% higher at 15.35. The share price has gained 52.58% from its 52-week low with a 52-week trading range of 10.06 - 20.41. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $17.25 is greater than its 200-day moving average of $15.53. Shares of Diamond Offshore Drilling are trading at a Price to Earnings ratio of 118.08. Shares of Diamond Offshore Drilling have fallen roughly 20.22 percent in the past month and are down 17.43 percent year-to-date.
Access RDI's Diamond Offshore Drilling, Inc. Research Report at:
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