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:
Denbury Resources Inc.
California Resources Corporation
Denbury Resources' stock jumped 5.89% Monday, to close the day at $5.21. The stock recorded a trading volume of 15,512,577 shares, which was above its three months average volume of 11,680,811 shares. In the last year, Denbury Resources' shares have traded in a range of 0.91 - 5.22. The share price has gained 472.53% from its 52 week low. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $4.38 is above its 200-day moving average of $3.08. Shares of the company are trading at a Price to Earnings ratio of 11.71. Shares of Denbury Resources have gained roughly 18.68 percent in the past month and are up 135.75 percent year-to-date.
Access RDI's Denbury Resources Inc. Research Report at:
On Monday, shares of California Resources recorded a trading volume of 2,061,485 shares, which was below the three months average volume of 2,305,268 shares. The stock ended the day 5.66% higher at $47.20. The share price has fallen 1.28% from its 52-week high with a 52-week trading range of 6.47 - 47.81. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $38.15 is above its 200-day moving average of $24.71. Shares of California Resources have gained roughly 16.92 percent in the past month and are up 142.8 percent year-to-date.
Access RDI's California Resources Corporation Research Report at:
Research Driven Investing
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.
RDInvesting has not been compensated; directly or indirectly; for producing or publishing this document.
Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker-dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.
For any questions, inquiries, or comments reach out to us directly at:
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.