NEW YORK, NY / ACCESSWIRE / July 3, 2017 / Despite the recent weakness from technology and health-care stocks, U.S. markets were still able to post strong performances for the first half of 2017. The Dow Jones Industrial Average gained 0.29 percent to close at 21,349.63, up approximately 8 percent in the first half of 2017, while the S&P 500 Index increased 0.15 percent to close at 2,423.41, up approximately 8.2 percent in the first half. The tech-heavy NASDAQ declined 0.06 percent to close at 6,140.42, up 14.1 percent since the start of 2017 and its best performance in the first 6 months of a year since 2009.
"The market has been resilient in the face of realization that perhaps no fiscal stimulus is forthcoming this year. This means that impressive gains in the S&P 500 this year were not about Trump or the tax cuts, but about underlying fundamentals and the economy," said Mike Antonelli, Equity Sales Trader at Robert W. Baird & Co.
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DryShips' stock fell 25.73% Friday, to close the day at $1.27. The stock recorded a trading volume of 8,013,621 shares, which was above its three months average volume of 3,964,440 shares. In the last year DryShips' shares have traded in a range of 0.84 - 22,848.00. The share price has gained 51.19% from its 52 week low. The company's shares are currently trading below their 200-day moving average. Moreover, the stock's 50-day moving average of $2.64 is below its 200-day moving average of $176.80. Shares of DryShips have fallen approximately 99.97 percent year-to-date.
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On Friday, shares in Seadrill recorded a trading volume of 4,911,154 shares, which was below the three months average volume of 9,733,230 shares. The stock ended the day 2.54% lower at 0.36. The stock is currently trading 92.14% below its 52 week high with a 52 week trading range of 0.35 - 4.59.The company's shares are currently trading below their 200-day moving average. Moreover, the stock's 50-day moving average of $0.48 is below its 200-day moving average of $1.59. Shares of Seadrill have fallen approximately 89.41 percent year-to-date.
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