NEW YORK, NY / ACCESSWIRE / May 14, 2018 / U.S. markets were mixed on Friday, with the Dow Jones logging its 7th consecutive daily gain, the longest streak since 2017. Comments from President Trump on changing health-care policy dragged markets to intraday losses before bouncing back. The Dow Jones Industrial Average gained 0.37 percent to close at 24,831.17, while the S&P 500 Index increased 0.17 percent to close at 2,727.72. The Nasdaq Composite Index fell 0.03 percent to close at 7,402.88.
“We've been in a broad trading range, but we've broken out of the downtrend that we had been seeing, thanks to some strong earnings and bond yields that have remained stable below 3%. This has put us back into a neutral positive for the year,” said Donald Selkin, chief market strategist at Newbridge Securities.
“Recent data on consumer prices and producer prices have also supported the market, as they've cooled investors on the idea that we might be seeing runaway inflation,” Selkin added.
RDI Initiates Coverage on:
Micron Technology, Inc.
Oclaro's stock moved 0.12% lower Friday, to close the day at $8.57. The stock recorded a trading volume of 1,864,739 shares, which was below its three months average volume of 5,799,837 shares. In the last year, Oclaro's shares have traded in a range of 5.61 - 10.93. The share price has gained 52.76% 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 $8.70 is above its 200-day moving average of $7.55. Shares of the company are trading at a Price to Earnings ratio of 10.59. Shares of Oclaro have fallen roughly 9.02 percent in the past month and are up 27.15 percent year-to-date.
Access RDI's Oclaro, Inc. Research Report at:
On Friday, shares of Micron Technology recorded a trading volume of 27,646,392 shares, which was below the three months average volume of 54,159,716 shares. The stock ended the day 1.6% lower at $51.82. The share price has fallen 18.29% from its 52 week high with a 52 week trading range of 26.85 - 63.42. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $50.16 is above its 200-day moving average of $47.00. Shares of the company are trading at a Price to Earnings ratio of 8.10. Shares of Micron Technology have fallen roughly 0.78 percent in the past month and are up 26.02 percent year-to-date.
Access RDI's Micron Technology, Inc. Research Report at:
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