NEW YORK, NY / ACCESSWIRE / November 1, 2018 / U.S. equities rose on Wednesday as a number of high profile companies reported upbeat corporate earnings that helped boost investor confidence. The Dow Jones Industrial Average gained 0.97 percent to close at 25,115.76, while the S&P 500 Index increased 1.09 percent to close at 2,711.74. The Nasdaq Composite Index jumped 2.01 percent to close at 7,305.90.
According to Brent Schutte, chief investment strategist at Northwestern Mutual Wealth Management Company, “We’ve been trading on things that aren’t fundamental in nature, and now we’re back to looking at the fundamentals, which are very attractive.”
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iQIYI's stock moved 11.53% lower Wednesday, to close the day at $19.64. The stock recorded a trading volume of 34,203,624 shares, which was above its three months average volume of 11,466,256 shares. In the last year, iQIYI,'s shares have traded in a range of 15.30 - 46.23. The share price has gained 28.37% 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 $25.48 is below its 200-day moving average of $27.33. Shares of iQIYI have fallen roughly 27.45 percent in the past month and are up 26.3 percent year-to-date.
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On Wednesday, shares of Momo recorded a trading volume of 6,510,096 shares, which was above the three months average volume of 4,364,238 shares. The stock ended the day 9.56% higher at $33.57. The share price has fallen 38.11% from its 52 week high with a 52 week trading range of 22.49 - 54.24. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $39.47 is below its 200-day moving average of $41.92. Shares of the company are trading at a Price to Earnings ratio of 16.46. Shares of Momo have fallen roughly 23.36 percent in the past month and are up 37.13 percent year-to-date.
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