NEW YORK, NY / ACCESSWIRE / December 18, 2018 / U.S. equities extended losses on Monday as investors await details from the Federal Reserve's final policy meeting of 2018 on Wednesday. The Dow Jones Industrial Average declined 2.11 percent to close at 23,592.98, while the S&P 500 Index fell 2.08 percent to close at 2,545.94. The Nasdaq Composite Index plunged 2.27 percent to close at 6,753.73.
The SEIA’s Director of Trading Operations, Vincent Reyes said that “the market feels like the Fed has to hike Wednesday,” to keep its image of independence despite request from the president to cease increase in rates. “But the logic for hiking is weak,” he added.
The Market Edge Initiates Coverage on:
Kinross Gold Corporation
Yamana Gold Inc.
Kinross Gold’s stock jumped 4.51% Monday, to close the day at $3.01. The stock recorded a trading volume of 30,136,414 shares, which was above its three months average volume of 14,273,606 shares. In the last year, Kinross Gold’s shares have traded in a range of 2.38 - 4.78. The share price has gained 26.47% 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 $2.69 is below its 200-day moving average of $3.11. Shares of the company are trading at a Price to Earnings ratio of 17.40. Shares of Kinross Gold have gained roughly 17.58 percent in the past month and are down 30.32 percent year-to-date.
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On Monday, shares of Yamana Gold recorded a trading volume of 13,652,872 shares, which was above the three months average volume of 11,421,344 shares. The stock ended the day 8.49% higher at $2.30. The share price has fallen 39.47% from its 52 week high with a 52 week trading range of 2.00 - 3.80. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $2.19 is below its 200-day moving average of $2.64. Shares of Yamana Gold have gained roughly 5.5 percent in the past month and are down 26.28 percent year-to-date.
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