NEW YORK, NY / ACCESSWIRE / November 1, 2017 / A strong earnings season helped lift all three major indexes to their strongest monthly gain since February. The Dow Jones Industrial Average rose 0.12 percent to close at 23,377.24, up 4.3 percent for the month, while the S&P 500 Index gained 0.09 percent to close at 2,575.26, up 2.2 percent for the month. The Nasdaq Composite Index jumped 0.43 percent to close at 6,727.67 for a monthly gain of 3.6 percent. The monthly gains were the 7th consecutive for the Dow and the S&P 500 and the 4th straight gain for the Nasdaq.
"What really matters for the market is earnings, which is what should matter, and earnings have been pretty darn good," said J.J. Kinahan, Chief Strategist at TD Ameritrade, according to MarketWatch.
"Are there things that could disrupt the apple cart? Sure. There are a lot of expectations around the tax plan, so the details could disappoint, and valuations are absolutely high, even if we are seeing growth in earnings. You don't see years like this, where markets just go straight up. We're due for some kind of pullback," Kinahan said.
RDI Initiates Coverage on:
Plug Power Inc.
FuelCell Energy Inc.
Plug Power Inc.'s stock moved 4.40% higher Tuesday, to close the day at $2.85. The stock recorded a trading volume of 8,156,455 shares, which was above its three months average volume of 5,074,840 shares. In the last year, Plug Power Inc.'s shares have traded in a range of 0.83 - 3.07. The share price has gained 243.37% 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 $2.65 is greater than its 200-day moving average of $2.26. Shares of Plug Power have gained approximately 137.5 percent year-to-date.
Access RDI's Plug Power Inc. Research Report at:
On Tuesday, shares in FuelCell Energy Inc. recorded a trading volume of 1,050,539 shares, which was below the three months average volume of 1,677,490 shares. The stock ended the day 2.34% higher at 2.19. The share price has gained 173.75% from its 52-week low with a 52-week trading range of 0.80 - 3.35. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $1.94 is greater than its 200-day moving average of $1.47. Shares of FuelCell Energy have gained approximately 25.14 percent year-to-date.
Access RDI's FuelCell Energy Inc. Research Report at:
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