NEW YORK, NY / ACCESSWIRE / August 2, 2017 / A strong earnings season continued to push U.S. markets higher Tuesday. The Dow Jones Industrial Average closed at a new record high for the 5th consecutive session. The Dow Jones gained 0.36 percent to close at a record 21,968.91, while the S&P 500 Index increased 0.19 to close at 2,475.11. The NASDAQ Composite Index rose 0.16 percent to close at 6,358.78. Data from FactSet shows that approximately 73 percent of S&P 500 companies who have reported earnings as of last Friday have topped sales estimates.
"A combination of [market] fundamentals and positive earnings are propelling stocks higher" amid a market-friendly backdrop as the Federal Reserve takes a gradual path to normalizing interest rates along with healthy global growth, said Quincy Krosby, Chief Market Strategist, at Prudential Financial.
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DryShips Inc.'s stock jumped 62.96% Tuesday, to close the day at $1.76. The stock recorded a trading volume of 37,689,806 shares, which was above its three months average volume of 3,039,770 shares. In the last year, DryShips Inc.'s shares have traded in a range of 0.98 - 799,681.62. The share price has gained 79.59% from its 52 week low. The company's shares are currently trading below their 200-day moving average. Moreover, the stock's 50-day moving average of $17.74 is below its 200-day moving average of $1,485.72. Shares of DryShips have fallen approximately 99.99 percent year-to-date.
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On Tuesday, shares in Seadrill Limited recorded a trading volume of 3,881,538 shares, which was below the three months average volume of 7,929,950 shares. The stock ended the day 4.39% lower at 0.35. The stock is currently trading 92.32% below its 52 week high with a 52 week trading range of 0.33 - 4.59.The company's shares are currently trading below their 200-day moving average. Moreover, the stock's 50-day moving average of $0.40 is below its 200-day moving average of $1.07. Shares of Seadrill have fallen approximately 89.66 percent year-to-date.
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