NEW YORK, NY / ACCESSWIRE / January 11, 2019 / U.S. markets finished in the green on Thursday, however gains were held back by a sharp decline in Macy’s shares that pressured retail stocks lower. The Dow Jones Industrial Average was up by 0.51 percent to close at 24,001.92, while S&P 500 gained 0.45 percent to settle at 2,596.64. Nasdaq increased 0.42 percent to close at 6,986.07.
According to TD Ameritrade’s Chief Market Strategist, JJ Kinahan, “Retailers are having a bad morning, and that’s obviously weighing on markets today.” However, the market appears to see this as a company-specific issue rather than a comment on the broader economy, and said that “the recent selloff was all about uncertainty over trade and growth.”
The Market Edge Initiates Coverage on:
American Airlines Group Inc.
Spirit Airlines, Inc.
American Airlines’ stock moved 4.13% lower Thursday, to close the day at $32.04. The stock recorded a trading volume of 19,725,785 shares, which was above its three months average volume of 9,704,949 shares. In the last year, American Airlines’ shares have traded in a range of 28.81 - 59.08. The share price has gained 11.21% 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 $34.36 is below its 200-day moving average of $36.82. Shares of the company are trading at a Price to Earnings ratio of 13.14. Shares of American Airlines have fallen roughly 5.32 percent in the past month and are up 0.66 percent year-to-date.
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On Thursday, shares of Spirit Airlines recorded a trading volume of 1,665,560 shares, which was above the three months average volume of 1,386,574 shares. The stock ended the day 2.19% higher at $60.75. The share price has fallen 7.04% from its 52 week high with a 52 week trading range of 34.36 - 65.35. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $58.35 is above its 200-day moving average of $48.77. Shares of the company are trading at a Price to Earnings ratio of 13.18. Shares of Spirit Airlines have gained roughly 0.55 percent in the past month and are up 5.62 percent year-to-date.
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SOURCE: The Market Edge