NEW YORK, NY / ACCESSWIRE / November 26, 2018 / U.S. equities lost footing on Friday amidst drop in oil prices and selloff in FAANG (Facebook, Amazon, Apple, Netflix and Google-parent Alphabet) stocks. The Dow Jones Industrial Average fell 0.73 points to close at 24,285.95, while the S&P 500 Index decreased 0.66 percent to close at 2,632.56. The Nasdaq Composite Index fell 0.48 percent to close at 6,938.98, posting its worst Black Friday since 2011.
According to Peter Cardillo, chief market economist at Spartan Capital Securities, "Tech stocks are under pressure once again but more troubling is that oil prices are collapsing."
"Lower oil prices are not a good sight for the economy," Cardillo added.
The Market Edge Initiates Coverage on:
Baidu's stock moved 0.73% lower Friday, to close the day at $182.61. The stock recorded a trading volume of 1,266,331 shares, which was below its three months average volume of 2,896,452 shares. In the last year, Baidu's shares have traded in a range of 175.32 - 284.22. The share price has gained 4.16% 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 $191.05 is below its 200-day moving average of $229.68. Shares of the company are trading at a Price to Earnings ratio of 14.23. Shares of Baidu have fallen roughly 4.11 percent in the past month and are down 22.03 percent year-to-date.
Access The Market Edge's Baidu, Inc. Research Report:
On Friday, shares of YY Inc. recorded a trading volume of 642,981 shares, which was below the three months average volume of 1,261,525 shares. The stock ended the day 3.18% lower at $65.85. The share price has fallen 53.94% from its 52 week high with a 52 week trading range of 56.65 - 142.97. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $65.24 is below its 200-day moving average of $85.84. Shares of the company are trading at a Price to Earnings ratio of 16.30. Shares of YY Inc. have gained roughly 11.01 percent in the past month and are down 41.76 percent year-to-date.
Access The Market Edge's YY Inc. Research Report:
The Market Edge
We are committed to providing relevant and actionable information for the self-directed investor. Our research is reputed for being a leader in trusted, in-depth analysis vital for informed strategic trading decisions. The nimble investor can leverage our analysis and collective expertise to execute a disciplined approach to stock selection.
The Market Edge has not been compensated; directly or indirectly; for producing or publishing this document.
Disclaimer: This article is written by an independent contributor of MarketEdgeReport.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. MarketEdgeReport.com is neither a registered broker-dealer nor a registered investment advisor. For more information please read our full disclaimer at www.marketedgereport.com/disclaimer.
For any questions, inquiries, or comments reach out to us directly at:
The Market Edge, Unit #901 511 Avenue of the Americas, New York, NY, 10011
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.