NEW YORK, NY / ACCESSWIRE / December 11, 2018 / Wall Street bounced on Monday as optimism outweighed earlier losses caused by the U.S. - China trade dispute. Analysts expect the Federal Reserve to raise interest rates during their next meeting. The Dow Jones Industrial Average gained 0.14 percent to close at 24,423.26, while the S&P 500 Index increased 0.18 percent to close at 2,637.72. The Nasdaq Composite Index jumped 0.74 percent to close at 7,020.52.
“There won’t be 25% tariffs on Jan. 1, and momentum toward a deal appears to be building, as the jobs report was solid but not too hot, while ISM Manufacturing PMIs were strong, and the Fed is shifting more and more dovish,” said Tom Essaye, the president and editor of the Sevens Report.
The Market Edge Initiates Coverage on:
Coupa Software Inc.
SailPoint Technologies Holdings, Inc.
Coupa Software’s stock jumped 7.42% Monday, to close the day at $64.57. The stock recorded a trading volume of 1,970,289 shares, which was above its three months average volume of 1,029,021 shares. In the last year, Coupa Software’s shares have traded in a range of 30.65 - 84.53. The share price has gained 110.67% 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 $62.26 is below its 200-day moving average of $65.54. Shares of Coupa Software have gained roughly 1.32 percent in the past month and are up 106.82 percent year-to-date.
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On Monday, shares of SailPoint Technologies recorded a trading volume of 1,460,183 shares, which was above the three months average volume of 1,102,177 shares. The stock ended the day 3.8% higher at $24.86. The share price has fallen 28.15% from its 52 week high with a 52 week trading range of 13.77 - 34.60. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $25.21 is below its 200-day moving average of $27.60. Shares of SailPoint Technologies have fallen roughly 2.32 percent in the past month and are up 71.45 percent year-to-date.
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SOURCE: The Market Edge