NEW YORK, NY / ACCESSWIRE / December 7, 2018 / U.S. equities finished modestly lower on Thursday as trade concerns were reignited after the arrest of a Huawei senior executive. The Dow Jones Industrial Average fell 0.32 percent to close at 24,947.67, while the S&P 500 Index decreased 0.15 percent to close at 2,695.95. The Nasdaq Composite Index gained 0.42 percent to close at 7,188.26.
Head of Research at LCG, Jasper Lawler said, “The timing of the arrest is key here. Markets are already incredibly nervous over slowing economic growth thanks to the inverted U.S. yield curve. Relations between the U.S. and China were supposed to be on the mend after a productive G-20. However, the arrest has the potential to shatter very fragile U.S.-Sino relations which will weigh further on global trade and growth concerns.”
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GrubHub's stock jumped 4.69% Thursday, to close the day at $81.41. The stock recorded a trading volume of 3,408,022 shares, which was above its three months average volume of 2,168,279 shares. In the last year, GrubHub's shares have traded in a range of 66.07 - 149.35. The share price has gained 23.22% 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 $91.12 is below its 200-day moving average of $114.77. Shares of the company are trading at a Price to Earnings ratio of 54.35. Shares of GrubHub have fallen roughly 10.69 percent in the past month and are up 13.38 percent year-to-date.
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On Thursday, shares of NetEase recorded a trading volume of 1,131,561 shares, which was above the three months average volume of 932,079 shares. The stock ended the day 3.94% higher at $238.47. The share price has fallen 36.85% from its 52 week high with a 52 week trading range of 184.60 - 377.64. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $220.39 is below its 200-day moving average of $229.46. Shares of the company are trading at a Price to Earnings ratio of 35.76. Shares of NetEase have gained roughly 4.3 percent in the past month and are down 30.89 percent year-to-date.
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SOURCE: The Market Edge