NEW YORK, NY / ACCESSWIRE / December 6, 2018 / U.S. markets fell in Tuesday amidst trade related uncertainty between the U.S. and China. The Dow Jones Industrial Average fell 3.10 percent to close at 25,027.07, while the S&P 500 Index decreased 3.24 percent to close at 2,700.06. The Nasdaq Composite Index dropped 3.8 percent to close at 7,158.43.
B. Riley FBR's chief market strategist, Art Hogan said, "Unfortunately until we get new news the market continues to be a caldron of concerns causing caution with investors."
"With the combination of he said Xi said on China trade, a fear of an economic slowdown in 2019, and the slow trickle of Mueller investigation reports coming out, it is not at all surprising to see a buyer's strike in the after hours market," he said.
The Market Edge Initiates Coverage on:
Arena Pharmaceuticals, Inc.
Sarepta Therapeutics, Inc.
Arena Pharmaceuticals’ stock moved 5.93% lower Tuesday, to close the day at $39.94. The stock recorded a trading volume of 601,977 shares, which was below its three months average volume of 642,106 shares. In the last year, Arena Pharmaceuticals’ shares have traded in a range of 29.52 - 50.05. The share price has gained 35.3% 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 $38.46 is below its 200-day moving average of $41.37. Shares of Arena Pharmaceuticals have gained roughly 6.17 percent in the past month and are up 17.57 percent year-to-date.
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On Tuesday, shares of Sarepta Therapeutics recorded a trading volume of 669,714 shares, which was below the three months average volume of 1,137,967 shares. The stock ended the day 6.25% lower at $122.78. The share price has fallen 30.44% from its 52 week high with a 52 week trading range of 50.68 - 176.50. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $127.99 is below its 200-day moving average of $128.59. Shares of Sarepta Therapeutics have fallen roughly 12.00 percent in the past month and are up 120.67 percent year-to-date.
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