NEW YORK, NY / ACCESSWIRE / December 17, 2018 / U.S. markets slumped on Friday as bank shares dragged equities lower amidst concerns about global economic slowdown after China’s industrial and sales growth report fell short of expectations. The Dow Jones Industrial Average dropped 2.02 percent to close at 24,100.51, while the S&P 500 Index fell 1.91 percent to close at 2,599.95. The Nasdaq Composite Index plunged 2.26 percent to close at 6,910.67.
“Indeed, investors are right to be worried about global growth as China economy continues to sputter,” said OANDA’s Asia Pacific head of trading, Stephen Innes. “The data lend support to the market’s view that things will get worse in China before they get better, this despite investment rising,” Innes added.
The Market Edge Initiates Coverage on:
New Age Beverages Corporation
The Coca-Cola Company
New Age Beverages’ stock moved 0.85% higher Friday, to close the day at $5.94. The stock recorded a trading volume of 13,922,440 shares, which was below its three months average volume of 23,107,520 shares. In the last year, New Age Beverages’ shares have traded in a range of 1.30 - 9.99. The share price has gained 356.92% 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 $4.37 is above its 200-day moving average of $3.29. Shares of New Age Beverages have gained roughly 38.46 percent in the past month and are up 173.73 percent year-to-date.
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On Friday, shares of The Coca-Cola recorded a trading volume of 13,836,073 shares, which was above the three months average volume of 13,235,221 shares. The stock ended the day 0.26% lower at $49.34. The share price has fallen 2.95% from its 52 week high with a 52 week trading range of 41.45 - 50.84. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $49.19 is above its 200-day moving average of $46.21. Shares of the company are trading at a Price to Earnings ratio of 74.98. Shares of The Coca-Cola have fallen roughly 1.65 percent in the past month and are up 7.54 percent year-to-date.
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