NEW YORK, NY / ACCESSWIRE / January 7, 2019 /U.S. markets surged on Friday as employment data came in well above expectations. The Bureau of Labor Statistics reported 312,000 jobs were added in December, soaring past the expected increase of 182,000 jobs, according to economists polled by MarketWatch. The Dow Jones Industrial Average hiked 3.29 percent to close at 23,433.16, while the S&P 500 Index jumped 3.43 percent to close at 2,531.94. The Nasdaq Composite Index advanced 4.26 percent to close at 6,738.86.
According to Willie Delwiche, the Director and Investment Strategist of R.W. Baird & Co., the upbeat employment data and wage growth continues to beat expectations, “it makes it very difficult to argue that the Fed should come to a complete halt in hiking interest rates, or that the economy is meaningfully weakening.”
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AbbVie's stock jumped 3.22% Friday, to close the day at $89.07. The stock recorded a trading volume of 8,910,646 shares, which was above its three months average volume of 6,870,732 shares. In the last year, AbbVie's shares have traded in a range of 77.50 - 125.86. The share price has gained 14.93% 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 $88.21 is below its 200-day moving average of $91.46. Shares of the company are trading at a Price to Earnings ratio of 18.60. Shares of AbbVie have fallen roughly 1.39 percent in the past month and are down 3.38 percent year-to-date.
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On Friday, shares of Allergan recorded a trading volume of 2,853,401 shares, which was above the three months average volume of 2,588,074 shares. The stock ended the day 4.78% higher at $142.57. The share price has fallen 27.63% from its 52 week high with a 52 week trading range of 125.84 - 197.00. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $146.76 is below its 200-day moving average of $172.74. Shares of the company are trading at a Price to Earnings ratio of 21.71. Shares of Allergan have fallen roughly 8.33 percent in the past month and are up 6.67 percent year-to-date.
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