NEW YORK, NY / ACCESSWIRE / January 7, 2019 /U.S. markets surged on Friday as employment data came in well above expectations. The Bureau of Labor Statistics reported 312,000 jobs were added in December, soaring past the expected increase of 182,000 jobs, according to economists polled by MarketWatch. The Dow Jones Industrial Average hiked 3.29 percent to close at 23,433.16, while the S&P 500 Index jumped 3.43 percent to close at 2,531.94. The Nasdaq Composite Index advanced 4.26 percent to close at 6,738.86.
According to Willie Delwiche, the Director and Investment Strategist of R.W. Baird & Co., the upbeat employment data and wage growth continues to beat expectations, “it makes it very difficult to argue that the Fed should come to a complete halt in hiking interest rates, or that the economy is meaningfully weakening.”
The Market Edge Initiates Coverage on:
Neurocrine Biosciences, Inc.
Loxo Oncology, Inc.
Neurocrine Biosciences' stock jumped 7.79% Friday, to close the day at $74.71. The stock recorded a trading volume of 2,524,327 shares, which was above its three months average volume of 1,154,027 shares. In the last year, Neurocrine Biosciences' shares have traded in a range of 64.72 - 126.98. The share price has gained 15.44% from its 52 week low. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $79.20 is below its 200-day moving average of $103.65. Shares of the company are trading at a Price to Earnings ratio of 732.45. Shares of Neurocrine Biosciences have fallen roughly 14.10 percent in the past month and are up 4.62 percent year-to-date.
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On Friday, shares of Loxo Oncology recorded a trading volume of 328,950 shares, which was below the three months average volume of 340,661 shares. The stock ended the day 6.75% higher at $139.87. The share price has fallen 33.06% from its 52 week high with a 52 week trading range of 82.74 - 208.95. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $139.27 is below its 200-day moving average of $160.24. Shares of Loxo Oncology have fallen roughly 3.48 percent in the past month and are down 0.14 percent year-to-date.
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