NEW YORK, NY / ACCESSWIRE / May 15, 2018 / Major U.S. markets closed up on Monday, with the Dow Jones posting its 8th consecutive daily gain, as trade tensions between U.S. and China eased. The Dow Jones Industrial Average gained 0.27 percent to close at 24,899.41, while the S&P 500 Index increased 0.09 percent to close at 2,730.13. The Nasdaq Composite Index climbed 0.11 percent to close at 7,411.32.
"We're getting a bump higher on this trade news, since it seems like Trump is backing off his rhetoric with China. He came out very aggressively, but now he's walking that back, which is encouraging,' said Paul Nolte, portfolio manager at Kingsview Asset Management.
"Now, I don't think the concerns are fully out of the market. We're still seeing higher interest rates and valuations are still at the high end of their historical range," Nolte added.
RDI Initiates Coverage on:
Marvell Technology Group Ltd.
Xilinx's stock jumped 3.78% Monday, to close the day at $71.44. The stock recorded a trading volume of 3,064,706 shares, which was above its three months average volume of 2,700,406 shares. In the last year, Xilinx's shares have traded in a range of 60.12 - 77.96. The share price has gained 18.83% from its 52 week low. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $67.83 is below its 200-day moving average of $70.46. Shares of the company are trading at a Price to Earnings ratio of 37.15. Shares of Xilinx have gained roughly 4.31 percent in the past month and are up 5.96 percent year-to-date.
Access RDI's Xilinx, Inc. Research Report at:
On Monday, shares of Marvell recorded a trading volume of 11,543,270 shares, which was above the three months average volume of 8,365,537 shares. The stock ended the day 4.33% higher at $21.93. The share price has fallen 12.91% from its 52 week high with a 52 week trading range of 14.87 - 25.18. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $21.07 is below its 200-day moving average of $21.94. Shares of the company are trading at a Price to Earnings ratio of 21.46. Shares of Marvell have fallen roughly 0.36 percent in the past month and are up 2.14 percent year-to-date.
Access RDI's Marvell Technology Group Ltd. Research Report at:
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