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:
Puma Biotechnology, Inc.
Puma Biotechnology's stock moved 5.14% lower Monday, to close the day at $21.42. The stock recorded a trading volume of 1,357,972 shares, which was above its three months average volume of 1,273,832 shares. In the last year, Puma Biotechnology's shares have traded in a range of 17.60 - 101.50. The share price has gained 21.7% 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 $24.85 is below its 200-day moving average of $42.49. Shares of Puma Biotechnology have fallen roughly 9.16 percent in the past month and are down 78.33 percent year-to-date.
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On Monday, shares of FibroGen recorded a trading volume of 621,266 shares, which was above the three months average volume of 441,432 shares. The stock ended the day 1.42% lower at $38.99. The share price has fallen 43.12% from its 52 week high with a 52 week trading range of 38.28 - 68.55. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $56.51 is below its 200-day moving average of $56.86. Shares of FibroGen have fallen roughly 3.59 percent in the past month and are down 17.74 percent year-to-date.
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