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:
iQIYI's stock moved 3.28% lower Friday, to close the day at $17.70. The stock recorded a trading volume of 7,099,648 shares, which was below its three months average volume of 9,207,726 shares. In the last year, iQIYI's shares have traded in a range of 15.30 - 46.23. The share price has gained 15.69% 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 $20.06 is below its 200-day moving average of $27.44. Shares of the company are trading at a Price to Earnings ratio of 16.70. Shares of iQIYI have fallen roughly 14.9 percent in the past month and are up 13.83 percent year-to-date.
Access The Market Edge's iQIYI, Inc. Research Report:
On Friday, shares of Uxin recorded a trading volume of 7,156,336 shares, which was above the three months average volume of 2,317,955 shares. The stock ended the day 4.75% higher at $7.50. The share price has fallen 28.5% from its 52 week high with a 52 week trading range of 2.81 - 10.49. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $5.11 is below its 200-day moving average of $6.10. Shares of Uxin have gained roughly 41.78 percent in the past month and are down 22.44 percent year-to-date.
Access The Market Edge's Uxin Limited 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.