NEW YORK, NY / ACCESSWIRE / July 26, 2018 / U.S. equities closed up on Wednesday, as trade tension eased following the President Trump's statement that the U.S. and the EU will "work together toward zero tariffs, zero non-tariff barriers, zero subsidies on non auto-industrial goods." The Dow Jones Industrial Average gained 0.68 percent to close at 25,414.10, while the S&P 500 Index was up 0.91 percent to close at 2,846.07. The Nasdaq Composite Index jumped 1.17 percent to close at 7,932.24.
According to Charlie Ripley, senior investment strategist at Allianz Investment Management, "In particular, easing trade tensions on an important sector like autos is positive for both counterparts."
"The agreement to not impose new tariffs while negotiations take place is a signal that real progress could happen. In turn, markets moved away from haven assets with the 10 year Treasury yield rising 3 basis points and the S&P 500 gaining a half percent on the news. Any news considered to be progress on the trade front will likely be embraced by investors as a positive signal for risk assets," Ripley added.
RDI Initiates Coverage on:
Advanced Micro Devices, Inc.
Advanced Micro Devices' stock moved 0.86% lower Wednesday, to close the day at $16.05. The stock recorded a trading volume of 65,503,169 shares, which was above its three months average volume of 59,562,095 shares. In the last year, Advanced Micro Devices' shares have traded in a range of 9.04 - 17.34. The share price has gained 77.54% 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 $15.98 is above its 200-day moving average of $12.78. Shares of the company are trading at a Price to Earnings ratio of 105.59. Shares of Advanced Micro Devices have gained roughly 6.22 percent in the past month and are up 56.13 percent year-to-date.
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On Wednesday, shares of Xilinx, recorded a trading volume of 1,847,859 shares, which was below the three months average volume of 2,133,033 shares. The stock ended the day 0.34% higher at $67.97. The share price has fallen 12.81% from its 52 week high with a 52 week trading range of 60.12 - 77.96. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $68.06 is below its 200-day moving average of $69.78. Shares of the company are trading at a Price to Earnings ratio of 34.16. Shares of Xilinx have gained roughly 3.8 percent in the past month and are up 0.82 percent year-to-date.
Access RDI's Xilinx, Inc. Research Report at:
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