NEW YORK, NY / ACCESSWIRE / October 17, 2018 / U.S. equities closed higher on Tuesday, driven by upbeat corporate earnings and strong economic data. According to the Federal Reserve, U.S. industrial production went up by 0.3 percent in September compared to Wall Street expectation of 0.1 percent increase. The Dow Jones Industrial Average jumped 2.17 percent to close at 25,798.42, while the S&P 500 Index 2.15 percent to close at 2,809.92. The Nasdaq Composite Index hiked 2.89 percent to close at 7,645.49.
Jim Smigiel, chief investment officer of absolute return strategies at SEI said that “the strongest gains in equity markets are behind us,” and that volatility is possibly a match for investors going onward as “chances of a surprise on the upside are lower than on the downside,” when referring to the broader U.S. economy.
RDI Initiates Coverage on:
BioMarin Pharmaceutical Inc.
BioMarin Pharmaceutical's stock jumped 6.6% Tuesday, to close the day at $106.01. The stock recorded a trading volume of 1,220,030 shares, which was above its three months average volume of 1,179,632 shares. In the last year, BioMarin Pharmaceutical's shares have traded in a range of 75.81 - 106.20. The share price has gained 39.84% 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 $98.76 is above its 200-day moving average of $94.14. Shares of BioMarin Pharmaceutical have gained roughly 6.64 percent in the past month and are up 18.89 percent year-to-date.
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On Tuesday, shares of
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