NEW YORK, NY / ACCESSWIRE / September 25, 2018 / U.S. markets closed lower Monday as trade tensions heated up. The Trump administration imposed a tariff of 10 percent on over $200 billion, which could increase to 25 percent if the two countries are unable to settle, according to L. Thomas Block, Washington policy strategist at Fundstrat Global Advisors. The Dow Jones Industrial Average dropped 0.68 percent to close at 26,562.05, while the S&P 500 Index declined 0.35 percent to close at 2,919.37. The Nasdaq Composite Index rose 0.08 percent to close at 7,993.25.
“You’d expect a bit of a pullback after hitting records, and there’s also a broader question of where do we go from here, economically? There’s a fear that tariffs could bring the economy down, and it is a near-certainty that the Fed will raise rates this week. That raises the question of how much longer the recovery will last, and how much earnings will grow from here,” said chief investment strategist at Key Private Bank, Bruce McCain.
RDI Initiates Coverage on:
Ultragenyx Pharmaceutical Inc.
Ultragenyx Pharmaceutical's stock jumped 4.44% Monday, to close the day at $88.64. The stock recorded a trading volume of 313,017 shares, which was below its three months average volume of 425,857 shares. In the last year, Ultragenyx Pharmaceutical's shares have traded in a range of 41.67 - 88.71. The share price has gained 112.72% 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 $81.17 is above its 200-day moving average of $70.06. Shares of Ultragenyx Pharmaceutical have gained roughly 16.68 percent in the past month and are up 91.12 percent year-to-date.
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On Monday, shares of FibroGen recorded a trading volume of 285,781 shares, which was below the three months average volume of 428,287 shares. The stock ended the day 3.98% higher at $60.10. The share price has fallen 12.33% from its 52 week high with a 52 week trading range of 40.74 - 68.55. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $59.84 is above its 200-day moving average of $55.96. Shares of FibroGen have gained roughly 0.92 percent in the past month and are up 26.79 percent year-to-date.
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