NEW YORK, NY / ACCESSWIRE / May 8, 2018 / A strong performance by the energy sector lifted U.S. markets higher for the second consecutive session Monday as oil prices topped $70 a barrel. Investor attention will now shift to President Trump's decision on the Iran nuclear accord on Tuesday at 2:00 p.m. The Dow Jones Industrial Average gained 0.39 percent to close at 24,357.32, while the S&P 500 Index rose 0.35 percent to close at 2,672.63. The Nasdaq Composite Index jumped 0.77 percent to close at 7,265.21.
"We're waiting on more clarity about the Iran deal. If Trump pulls out, which other leaders have urged him not to do, then supply will be cut, which will have the same impact as rising demand in terms of driving up prices. But even beyond that, we're entering the summer driving season and the energy sector has been down for so long that it looks poised for a rebound," said Mark Martiak, senior wealth strategist at Premier Wealth/First Allied.
RDI Initiates Coverage on:
Sorrento Therapeutics, Inc.
Sorrento Therapeutics' stock jumped 10.85% Monday, to close the day at $7.15. The stock recorded a trading volume of 2,678,381 shares, which was below its three months average volume of 3,597,293 shares. In the last year, Sorrento Therapeutics' shares have traded in a range of 1.50 - 10.65. The share price has gained 376.67% 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 $6.2e7 is above its 200-day moving average of $5.31. Shares of the company are trading at a Price to Earnings ratio of 55.00. Shares of Sorrento Therapeutics have gained roughly 25.44 percent in the past month and are up 88.16 percent year-to-date.
Access RDI's Sorrento Therapeutics, Inc. Research Report at:
On Monday, shares of Illumina recorded a trading volume of 1,075,674 shares, which was above the three months average volume of 835,090 shares. The stock ended the day 4.93% higher at $256.89. The share price has fallen 0.92% from its 52 week high with a 52 week trading range of 167.98 - 259.27. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $240.89 is above its 200-day moving average of $228.53. Shares of the company are trading at a Price to Earnings ratio of 52.21. Shares of Illumina have gained roughly 12.59 percent in the past month and are up 17.58 percent year-to-date.
Access RDI's Illumina, Inc. Research Report at:
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