NEW YORK, NY / ACCESSWIRE / November 28, 2018 / U.S. markets closed up on Tuesday as gains in defensive stocks helped counteract trade related concerns between U.S. and China. The Dow Jones Industrial Average increased 0.44 percent to close at 24,748.73, while the S&P 500 Index gained 0.33 percent to close at 2,682.17. The Nasdaq Composite Index closed 0.01 percent higher to close at 7,082.70.
Morgan Stanley strategist Mike Wilson said in a note that the sell off in the stock market is only half done and will see the final leg in 2019. He said in a note to clients, “The Rolling Bear market is now better understood by the consensus; and more importantly, it is better priced, with forward price/earnings falling 18% from peak to trough. In short, while 90% of the price damage has been done by this bear, we’ve likely only served 50% of the time.”
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Workday, Inc.'s stock moved 1.06% lower Tuesday, to close the day at $138.75. The stock recorded a trading volume of 1,692,130 shares, which was below its three months average volume of 2,042,307 shares. In the last year, Workday, Inc.'s shares have traded in a range of 95.35 - 157.12. The share price has gained 45.52% 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 $131.59 is below its 200-day moving average of $134.45. Shares of Workday, Inc. have gained roughly 15.00 percent in the past month and are up 36.38 percent year-to-date.
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On Tuesday, shares of Splunk Inc. recorded a trading volume of 2,202,113 shares, which was above the three months average volume of 2,184,709 shares. The stock ended the day 3.3% lower at $92.46. The share price has fallen 28.88% from its 52 week high with a 52 week trading range of 76.89 - 130.00. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $113.37 is above its 200-day moving average of $109.54. Shares of Splunk Inc. have gained roughly 2.84 percent in the past month and are up 11.61 percent year-to-date.
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