>NEW YORK, NY / ACCESSWIRE / January 3, 2019 / U.S. equities closed up on Wednesday after a volatile trading day, as investors remained concerned over the Fed’s tighter monetary policy and possible economic slowdown. The Dow Jones Industrial Average gained 0.08 percent to close at 23,346.24, while the S&P 500 Index increased 0.13 percent to close at 2,510.03. The Nasdaq Composite Index climbed 0.46 percent to close at 6,665.94.
The Chief Investment Officer for Pence Wealth Management, E. Dryden Pence III said, "I think this is a temporary headline-driven issue."
"We see a market that is disconnected from our view of the 2019 fundamentals. Because of that, we see more opportunity than risk at these prices," he added.
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Alphabet's stock moved 0.99% higher Wednesday, to close the day at $1,045.85. The stock recorded a trading volume of 1,532,608 shares, which was below its three months average volume of 1,970,314 shares. In the last year, Alphabet's shares have traded in a range of 970.11 - 1,273.89. The share price has gained 7.81% 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 $1,045.23 is below its 200-day moving average of $1,134.45. Shares of the company are trading at a Price to Earnings ratio of 39.25. Shares of Alphabet have fallen roughly 4.44 percent in the past month and have dropped 1.8 percent in the last one year.
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On Wednesday, shares of Momo recorded a trading volume of 3,032,296 shares, which was below the three months average volume of 4,395,179 shares. The stock ended the day 4.55% higher at $24.83. The share price has fallen 54.22% from its 52 week high with a 52 week trading range of 22.85 - 54.24. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $27.94 is below its 200-day moving average of $38.34. Shares of the company are trading at a Price to Earnings ratio of 12.17. Shares of Momo have fallen roughly 20.80 percent in the past month and have dropped 3.98 percent in the last one year.
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