NEW YORK, NY / ACCESSWIRE / October 26, 2017 / The markets record rally stalled Wednesday, with the Dow posting its largest one day drop since September 5th, after the latest batch of corporate earnings failed to impress Wall Street. The Dow Jones Industrial Average declined 0.48 percent to close at 23,329.46, while the S&P 500 Index dropped 0.47 percent to close at 2,557.15. The Nasdaq Composite Index fell 0.52 percent to close at 6,563.89. As of Wednesday, 165 of the companies in the S&P 500 Index have reported earnings so far with approximately 72.1 percent of them beating expectations, according to Reuters.
"While we continue to advise patience and some caution in the near term [due to low volatility and stretched valuation] the strength in U.S. stocks continues to support our view that we are nowhere near the end of this secular bull market," said Andrew Adams, market strategist at Raymond James, in a note, according to MarketWatch.
RDI Initiates Coverage on:
AGNC Investment Corp.
Annaly Capital Management Inc.
AGNC Investment Corp.'s stock edged 0.83% lower Wednesday, to close the day at $21.44. The stock recorded a trading volume of 6,593,559 shares, which was above its three months average volume of 4,357,900 shares. In the last year, AGNC Investment Corp.'s shares have traded in a range of 17.30 - 22.34. The share price has gained 23.97% 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 $21.54 is greater than its 200-day moving average of $21.18. Shares of AGNC Investment Corp. are trading at a Price to Earnings ratio of 4.49. Shares of AGNC Investment have gained approximately 7.75 percent year-to-date.
Access RDI's AGNC Investment Corp. Research Report at:
On Wednesday, shares in Annaly Capital Management Inc. recorded a trading volume of 13,488,610 shares, which was above the three months average volume of 9,010,130 shares. The stock ended the day 1.66% lower at 11.84. The share price has gained 20.45% from its 52 week low with a 52 week trading range of 9.83 - 12.73. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $12.30 is greater than its 200-day moving average of $12.07. Shares of Annaly Capital Management Inc. are trading at a Price to Earnings ratio of 4.09. Shares of Annaly Capital Management have gained approximately 18.76 percent year-to-date.
Access RDI's Annaly Capital Management Inc. Research Report at:
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