NEW YORK, NY / ACCESSWIRE / July 10, 2018 / U.S. equities continued to push higher on Monday, as strong economic data counters worries on rising trade tensions. The Dow Jones Industrial Average advanced 1.31 percent to close at 24,776.59, its biggest gain in a month, while the S&P 500 Index climbed 0.88 percent to close at 2,784.17. The Nasdaq Composite Index jumped 0.88 percent to close at 7,756.20.
Wells Fargo Investment Institute's senior global equity strategist, Scott Wren said, "Given the rhetoric over the past few weeks, it seems like the probability of a trade war has increased. However, in the short term I still think there's a relatively low probability that one will actually occur. And in the meantime, U.S. economic data has been good, and the Street knows this will be a good year for earnings."
RDI Initiates Coverage on:
Bank of America Corporation
JPMorgan Chase & Co.
Bank of America's stock jumped 3.64% Monday, to close the day at $29.05. The stock recorded a trading volume of 61,758,903 shares, which was below its three months average volume of 64,737,796 shares. In the last year, Bank of America's shares have traded in a range of 22.75 - 33.05. The share price has gained 27.69% 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 $29.29 is below its 200-day moving average of $30.49. Shares of the company are trading at a Price to Earnings ratio of 16.85. Shares of Bank of America have fallen roughly 3.20 percent in the past month and are down 1.59 percent year-to-date.
Access RDI's Bank of America Corporation Research Report at:
On Monday, shares of JPMorgan Chase & Co. recorded a trading volume of 13,900,793 shares, which was below the three months average volume of 13,952,428 shares. The stock ended the day 3.09% higher at $107.28. The share price has fallen 10.1% from its 52 week high with a 52 week trading range of 88.08 - 119.33. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $107.87 is below its 200-day moving average of $111.02. Shares of the company are trading at a Price to Earnings ratio of 15.29. Shares of JPMorgan Chase & Co. have fallen roughly 3.45 percent in the past month and are up 0.32 percent year-to-date.
Access RDI's JPMorgan Chase & Co. Research Report at:
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