NEW YORK, NY / ACCESSWIRE / August 21, 2017 / Geopolitical concerns combined with the resignation of multiple advisors to President Trump pressured markets lower last week. On Friday, the Dow Jones Industrial Average declined 0.35 percent to close at 21,674.51, down 0.84 percent for the week, while the S&P 500 Index fell 0.18 percent to close at 2,425.55, down 0.64 percent for the week. The NASDAQ Composite Index decreased 0.09 percent to close at 6,216.53, down 0.65 percent for the week.
"Longer-term trends at this point remain intact, so this remains a short-term pullback only. And it's tough to make too much of this," said Mark Newton, managing member at Newton Advisors, in a note, according to CNBC.
RDI Initiates Coverage on:
Alibaba Group Holding Ltd.
Alibaba Group Holding Ltd.'s stock moved 2.18% higher Friday, to close the day at $167.50. The stock recorded a trading volume of 31,492,502 shares, which was above its three months average volume of 18,815,600 shares. In the last year Alibaba Group Holding Ltd.'s shares have traded in a range of 86.01 - 169.50. The share price has gained 94.74% from its 52 week low. The company's shares are currently trading above their 200-day moving average. Moreover, the stock's 50-day moving average of $152.41 is greater than its 200-day moving average of $124.57. Shares of Alibaba Group Holding Ltd. are trading at a Price to Earnings ratio of 56.78. Shares of Alibaba Group have gained approximately 90.75 percent year-to-date.
Access RDI’s Alibaba Group Holding Ltd. Research Report at:
On Friday, shares of Renren Inc. recorded a trading volume of 768,371 shares, which was above the three months average volume of 175,298 shares. The stock ended the day 12.13% higher at 8.23. The share price has gained 36.94% from its 52 week low with a 52 week trading range of 6.01 - 12.50.The company's shares are currently trading above their 200-day moving average. Moreover, the stock's 50-day moving average of $6.60 is below its 200-day moving average of $6.99. Shares of Renren have gained approximately 3.52 percent year-to-date.
Access RDI's Renren Inc. Research Report at:
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