NEW YORK, NY / ACCESSWIRE / June 4, 2018 / U.S. markets closed in the green on Friday, with the Dow rising more than 200 points on the strength of the May jobs report. Approximately 223,000 new jobs were created in May, driving the unemployment rate to an 18-year low of 3.8 percent. The Dow Jones Industrial Average rose 0.9 percent to close at 24,635.21, while the S&P 500 Index increased 1.08 percent to finish at 2,734.62. The Nasdaq Composite Index was up 1.51 percent to close at 7,554.33, ending the week 1.6% higher.
"The market wanted a goldilocks jobs report and that's exactly what May's report was. The economy is still adding jobs but wage growth and inflation are not at extreme levels," said Lisa Erickson, U.S. Bank Wealth Management's head of traditional investments.
"The latest jobs numbers only reaffirm the Fed's plan to raise interest rates twice more this year --- one in June and one in September, with a 50/50 chance of third hike in December," said Wouter Sturkenboom, Russell Investments' senior investment strategist.
RDI Initiates Coverage on:
Applied Materials, Inc.
Applied Materials' stock moved 2.88% higher Friday, to close the day at $52.24. The stock recorded a trading volume of 10,590,386 shares, which was below its three months average volume of 14,312,077 shares. In the last year, Applied Materials' shares have traded in a range of 40.79 - 62.40. The share price has gained 28.07% 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 $52.10 is below its 200-day moving average of $54.16. Shares of the company are trading at a Price to Earnings ratio of 17.54. Shares of Applied Materials have gained roughly 3.02 percent in the past month and are up 2.19 percent year-to-date.
Access RDI's Applied Materials, Inc. Research Report at:
On Friday, shares of Xilinx recorded a trading volume of 2,901,063 shares, which was above the three months average volume of 2,758,903 shares. The stock ended the day 3.32% higher at $70.37. The share price has fallen 9.74% from its 52-week high with a 52-week trading range of 60.12 - 77.96. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $67.83 is below its 200-day moving average of $70.19. Shares of the company are trading at a Price to Earnings ratio of 36.59. Shares of Xilinx have gained roughly 6.91 percent in the past month and are up 4.38 percent year-to-date.
Access RDI's Xilinx, Inc. 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:
Research Driven Investing, Unit #901 511 Avenue of the Americas, New York, NY, 10011
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.