NEW YORK, NY / ACCESSWIRE / February 8, 2018 / On Wednesday, U.S. markets failed to continue on Tuesday's gains as investors worried about rising bond yields and interest rates. The Dow Jones Industrial Average dipped 0.08 percent to close at 24,893.35, while the S&P 500 Index fell 0.50 percent to close at 2,681.66. The Nasdaq Composite Index dropped 0.90 percent to close at 7,051.98.
"The market was positioned for great earnings, great growth, and no inflation or rates moving up to any meaningful degree. Now that goldilocks environment is gone, and we're back in a normal environment where we're getting both strong growth and higher rates. That readjustment is bringing some jitters," said Alec Young, managing director of global markets research at FTSE Russell.
RDI Initiates Coverage on:
The Ultimate Software Group, Inc.
The Ultimate Software's stock jumped 7.19% Wednesday, to close the day at $232.17. The stock recorded a trading volume of 1,132,958 shares, which was above its three months average volume of 280,669 shares. In the last year, The Ultimate Software's shares have traded in a range of 181.59 - 242.93. The share price has gained 27.85% 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 $223.22 is greater than its 200-day moving average of $205.04. Shares of the company are trading at a Price to Earnings ratio of 242.87. Shares of The Ultimate Software have gained roughly 5.16 percent in the past month and are up 6.39 percent year-to-date.
Access RDI's The Ultimate Software Group, Inc. Research Report at:
On Wednesday, shares of Zendesk recorded a trading volume of 4,250,001 shares, which was above the three months average volume of 775,700 shares. The stock ended the day 5.31% higher at 40.47. The share price has gained 66.63% from its 52 week low with a 52 week trading range of 24.30 - 42.35. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $36.14 is greater than its 200-day moving average of $31.81. Shares of Riot Zendesk have gained roughly 15.73 percent in the past month and are up 19.59 percent year-to-date.
Access RDI's Zendesk, Inc. Research Report at:
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