NEW YORK, NY / ACCESSWIRE / February 9, 2018 / U.S. markets continued to plunge alongside rising interest rates on Thursday. The Dow Jones Industrial Average dropped 4.15 percent to close at 23,860.46, while the S&P 500 Index fell 3.75 percent to close at 2,581.00. The Dow Jones is currently on pace to post its largest weekly decline since October of 2008. The Nasdaq Composite Index declined 3.90 percent to close at 6,777.16. The yield on the benchmark 10-year U.S. Treasury note touched a high of 2.88 percent before settling to close at 2.848 percent on Thursday.
"The big news revolves around bond yields continuing their recent ascent," said Mark Newton, managing member at Newton Advisors, according to CNBC. "Getting over 3.05 percent would indeed break the 30-year downtrend and be very important to suggesting yields should begin a long-term trend higher."
RDI Initiates Coverage on:
Arena Pharmaceuticals, Inc.
Arena Pharmaceuticals' stock moved 4.10% lower Thursday, to close the day at $38.40. The stock recorded a trading volume of 728,544 shares, which was above its three months average volume of 541,433 shares. In the last year, Arena Pharmaceuticals' shares have traded in a range of 11.30 - 41.92. The share price has gained 239.82% 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 $36.66 is greater than its 200-day moving average of $28.34. Shares of Arena Pharmaceuticals are up approximately 13.04 percent year-to-date.
Access RDI's Arena Pharmaceuticals, Inc. Research Report at:
On Thursday, shares of VIVUS recorded a trading volume of 2,218,997 shares, which was above the three months average volume of 658,148 shares. The stock ended the day 15.12% higher at 0.49. The share price has gained 23.75% from its 52 week low with a 52 week trading range of 0.40 - 1.38. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $0.49 is below its 200-day moving average of $0.78. Shares of VIVUS are trading at a Price to Earnings ratio of 1.46. Shares of VIVUS have fallen roughly 3.51 percent in the past month and are down 1.51 percent year-to-date.
Access RDI's VIVUS, Inc. Research Report at:
Research Driven Investing
We are committed to providing relevant and actionable information for the self-directed investor. Our research is reputed for being a leader in trusted, in-depth analysis vital for informed strategic trading decisions. The nimble investor can leverage our analysis and collective expertise to execute a disciplined approach to stock selection.
RDInvesting has not been compensated; directly or indirectly; for producing or publishing this document.
Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.
For any questions, inquiries, or comments reach out to us directly at:
Research Driven Investing, Unit #901 511 Avenue of the Americas, New York, NY, 10011
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.