NEW YORK, NY / ACCESSWIRE / January 22, 2019 /U.S. markets closed up on Friday for the fourth consecutive session amidst optimism over the U.S.-China trade talk. The Dow Jones advanced 1.38 percent to settle at 24,706.35, while the S&P 500 surged by 1.32 to close at 2,670.71. The Nasdaq jumped 1.03 percent to settle at 7,157.23.
“With the shutdown slowly taking 0.1 percentage point of GDP each week, the president knows a victory in resolving the trade war can give him leverage on continuing his battle with Democrats on his border wall funding,” said market analyst at OANDA, Edward Moya.
The Market Wealth Report Initiates Coverage on:
Ellie Mae, Inc.
Paycom Software, Inc.
Ellie Mae's stock jumped 4.2% Friday, to close the day at $73.11. The stock recorded a trading volume of 814,264 shares, which was above its three months average volume of 695,837 shares. In the last year, Ellie Mae's shares have traded in a range of 58.49 - 116.90. The share price has gained 25% 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 $64.98 is below its 200-day moving average of $84.66. Shares of the company are trading at a Price to Earnings ratio of 80.34. Shares of Ellie Mae have gained roughly 21.95 percent in the past month and are up 14.47 percent year-to-date.
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On Friday, shares of Paycom Software recorded a trading volume of 627,379 shares, which was below the three months average volume of 663,093 shares. The stock ended the day 3.04% higher at $136.24. The share price has fallen 16.97% from its 52 week high with a 52 week trading range of 80.39 - 164.08. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $126.33 is below its 200-day moving average of $131.31. Shares of the company are trading at a Price to Earnings ratio of 81.83. Shares of Paycom Software have gained roughly 18.46 percent in the past month and are up 12.37 percent year-to-date.
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SOURCE: Market Wealth Report