NEW YORK, NY / ACCESSWIRE / January 24, 2019 / U.S. equities regained its footing on Wednesday on the back of strong corporate earnings. Overall profits of the companies who have reported quarterly results so far have risen by approximately by 13.2 percent. The Dow Jones Industrial Average closed up by 0.7 percent to settle at 24,575.62, supported by strong quarterly earnings from Procter & Gamble, IBM and United Technologies, while the S&P 500 climbed 0.22 percent to close at 2,638.70. The Nasdaq barely moved by 0.08 percent higher to close at 7,025.77.
"Ultimately, when you look at the data, the thing that matters most to the market is earnings," said the founder of Zoe Financial, Andres Garcia-Amaya. "I would say the technology sector is one that could make or break the story for equities. If you look at margins for the sector versus the other sectors, it's by far the largest," he added.
The Market Wealth Report Initiates Coverage on:
Texas Instruments Inc.
Texas Instruments’ stock moved 1.17% lower Wednesday, to close the day at $95.49. The stock recorded a trading volume of 8,221,294 shares, which was above its three months average volume of 7,728,559 shares. In the last year, Texas Instruments’ shares have traded in a range of 87.70 - 118.48. The share price has gained 8.88% 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 $94.67 is below its 200-day moving average of $102.95. Shares of the company are trading at a Price to Earnings ratio of 20.52. Shares of Texas Instruments have gained roughly 8.76 percent in the past month and are up 1.05 percent year-to-date.
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On Wednesday, shares of Xilinx recorded a trading volume of 3,940,051 shares, which was above the three months average volume of 3,171,137 shares. The stock ended the day 1% lower at $89.55. The share price has fallen 5.92% from its 52 week high with a 52 week trading range of 62.27 - 95.18. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $88.05 is above its 200-day moving average of $80.00. Shares of the company are trading at a Price to Earnings ratio of 38.70. Shares of Xilinx have gained roughly 12.97 percent in the past month and are up 5.14 percent year-to-date.
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SOURCE: The Market Wealth Report