NEW YORK, NY / ACCESSWIRE / August 18, 2017 / U.S. markets tumbled Thursday on news of a terrorist attack in London and growing concerns that the recent controversies surrounding President Trump would impact his economic agenda. There had been fears in early trading Thursday that Gary Cohn, the director of the president's National Economic Council, would resign following President Trump's remarks on the violent protests in Charlottesville, VA. The Dow Jones Industrial Average plunged 1.24 percent, its largest daily decline in three-months, to close at 21,750.73, while the S&P 500 Index fell 1.54 to close at 2,430.01. The NASDAQ Composite Index dropped 1.54 percent to close at 6,221.91.
"In Europe, we had weakness out of the gate and then we had worries about the Cohn news," said Mark Kepner, managing director of sales and trading at Themis Trading, in an interview. "With the light volume, Barcelona is not something that the market is going to handle well."
RDI Initiates Coverage on:
Applied Materials, Inc.
Cisco Systems, Inc.
Applied Materials Inc.'s stock moved 3.01% lower Thursday, to close the day at $43.12. The stock recorded a trading volume of 14,283,433 shares, which was above its three months average volume of 10,539,600 shares. In the last year Applied Materials Inc.'s shares have traded in a range of 27.56 - 47.86. The share price has gained 56.46% from its 52 week low. The company's shares are currently trading above their 200-day moving average. Moreover, the stock's 50-day moving average of $44.36 is greater than its 200-day moving average of $41.24. Shares of Applied Materials Inc. are trading at a Price to Earnings ratio of 17.83. Shares of Applied Materials have gained approximately 33.62 percent year-to-date.
Access RDI's Applied Materials, Inc. Research Report at:
On Thursday, shares of Cisco Systems Inc. recorded a trading volume of 53,288,773 shares, which was above the three months average volume of 21,881,100 shares. The stock ended the day 4.02% lower at 31.04. The stock is currently trading 10.29% below its 52 week high with a 52 week trading range of 29.12 - 34.60.The company's shares are currently trading below their 200-day moving average. Moreover, the stock's 50-day moving average of $31.51 is below its 200-day moving average of $32.56. Shares of Cisco Systems Inc. are trading at a Price to Earnings ratio of 15.76. Shares of Cisco Systems have gained approximately 2.71 percent year-to-date.
Access RDI's Cisco Systems, Inc. Research Report at:
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