NEW YORK, NY / ACCESSWIRE / December 3, 2018 / U.S. markets closed in the green on Friday on optimism of a potential trade deal between the U.S. and China. A “trade war truce” was expected to come from the dinner between President Trump and Chinese President Xi Jinping over the weekend and that is what exactly happened. China and the United States agreed to a ceasefire in their bitter trade war on Saturday, including no escalated tariffs in Jan. Trump will leave tariffs on $200 billion worth of Chinese imports at 10 percent at the beginning of the new year. Just on the expectation of truce, both the S&P 500 and the Nasdaq posted their best weekly gain in almost 7 years. The Dow Jones Industrial Average gained 0.79 percent to close at 25,538.46, while the S&P 500 Index increased 0.82 percent to close at 2,760.17. The Nasdaq Composite Index climbed 0.79 percent to close at 7,330.54.
“I think it came out as a draw,” said Ken Courtis, a Tokyo-based financial adviser. He is predicting markets on Monday will greet the standstill with enthusiasm, even though “both countries have kept the gun cocked.”
The Market Edge Initiates Coverage on:
Amarin Corporation plc
Immunomedics' stock jumped 6.02% Friday, to close the day at $20.09. The stock recorded a trading volume of 3,388,054 shares, which was above its three months average volume of 1,651,455 shares. In the last year, Immunomedics' shares have traded in a range of 8.68 - 27.33. The share price has gained 131.45% 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 $21.10 is below its 200-day moving average of $22.73. Shares of Immunomedics have fallen roughly 18.07 percent in the past month and are up 24.32 percent year-to-date.
Access The Market Edge's Immunomedics, Inc. Research Report:
On Friday, shares of Amarin recorded a trading volume of 6,351,054 shares, which was below the three months average volume of 18,323,519 shares. The stock ended the day 4.11% higher at $18.00. The share price has fallen 22.88% from its 52 week high with a 52 week trading range of 2.35 - 23.34. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $19.79 is above its 200-day moving average of $8.60. Shares of Amarin have fallen roughly 21.29 percent in the past month and are up 348.88 percent year-to-date.
Access The Market Edge's Amarin Corporation plc Research Report:
The Market Edge
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.
The Market Edge has not been compensated; directly or indirectly; for producing or publishing this document.
Disclaimer: This article is written by an independent contributor of MarketEdgeReport.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. MarketEdgeReport.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.marketedgereport.com/disclaimer.
For any questions, inquiries, or comments reach out to us directly at:
The Market Edge, Unit #901 511 Avenue of the Americas, New York, NY, 10011
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: The Market Edge