NEW YORK, NY / ACCESSWIRE / November 28, 2018 / U.S. markets closed up on Tuesday as gains in defensive stocks helped counteract trade related concerns between U.S. and China. The Dow Jones Industrial Average increased 0.44 percent to close at 24,748.73, while the S&P 500 Index gained 0.33 percent to close at 2,682.17. The Nasdaq Composite Index closed 0.01 percent higher to close at 7,082.70.
Morgan Stanley strategist Mike Wilson said in a note that the sell off in the stock market is only half done and will see the final leg in 2019. He said in a note to clients, “The Rolling Bear market is now better understood by the consensus; and more importantly, it is better priced, with forward price/earnings falling 18% from peak to trough. In short, while 90% of the price damage has been done by this bear, we’ve likely only served 50% of the time.”
The Market Edge Initiates Coverage on:
Tenet Healthcare Corporation
Tenet Healthcare Corporation's stock jumped 4.62% Tuesday, to close the day at $23.99. The stock recorded a trading volume of 1,911,953 shares, which was above its three months average volume of 1,250,396 shares. In the last year, Tenet Healthcare Corporation's shares have traded in a range of 12.45 - 39.74. The share price has gained 92.69% 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 $25.38 is below its 200-day moving average of $31.49. Shares of Tenet Healthcare Corporation have fallen roughly 3.96 percent in the past month and are up 58.25 percent year-to-date.
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On Tuesday, shares of DaVita Inc. recorded a trading volume of 2,527,543 shares, which was above the three months average volume of 1,803,607 shares. The stock ended the day 3.13% higher at $62.68. The share price has fallen 22.34% from its 52 week high with a 52 week trading range of 57.39 - 80.71. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $67.13 is below its 200-day moving average of $69.54. Shares of the company are trading at a Price to Earnings ratio of 18.11. Shares of DaVita Inc. have fallen roughly 3.69 percent in the past month and are down 13.25 percent year-to-date.
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The Market Edge
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