NEW YORK, NY / ACCESSWIRE / December 10, 2018 / U.S. stocks closed in the red on Friday as U.S. jobs report fell short of expectations and uncertainty over the U.S. -China trade talk spur markets lower. The Dow Jones Industrial Average fell 2.24 percent to close at 24,388.95, while the S&P 500 Index decreased 2.33 percent to close at 2,633.08. The Nasdaq Composite Index dropped 3.05 percent to close at 6,969.25. The U.S. Labor Department reported an increase of 155,000 jobs in November, compared to 190,000 increase forecasted economists polled by MarketWatch. For the week, the Dow Jones shed 4.5 percent, while the S&P 500 and Nasdaq declined 4.6 percent and 4.9 percent, respectively.
The Market Edge Initiates Coverage on:
General Electric Company
Emerson Electric Co.
General Electric's stock moved 4.63% lower Friday, to close the day at $7.01. The stock recorded a trading volume of 114,480,098 shares, which was below its three months average volume of 122,266,273 shares. In the last year, General Electric's shares have traded in a range of 6.99 - 19.39. The share price has gained 0.29% 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 $8.93 is below its 200-day moving average of $12.04. Shares of General Electric have fallen roughly 18.3 percent in the past month and are down 59.83 percent year-to-date.
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On Friday, shares of Emerson Electric recorded a trading volume of 5,232,290 shares, which was above the three months average volume of 3,573,815 shares. The stock ended the day 1.32% lower at $62.95. The share price has fallen 21.02% from its 52 week high with a 52 week trading range of 62.04 - 79.70. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $67.77 is below its 200-day moving average of $72.00. Shares of the company are trading at a Price to Earnings ratio of 18.19. Shares of Emerson Electric have fallen roughly 8.09 percent in the past month and are down 9.67 percent year-to-date.
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