NEW YORK, NY / ACCESSWIRE / January 15, 2019 / Wall Street extended losses on Monday as concerns of a global economic slowdown were reignited on weaker-than-expected economic data from China. In December, Chinese imports and exports on a year-over-year basis declined by 7.6 percent and 4.4 percent, respectively, while Chinese goods surplus with the U.S. reached $323.32 billion last year. The Dow Jones Industrial Average dropped 0.36 percent to close at 23,909.84, while the S&P 500 shed 0.53 percent to settle at 2,582.61. The Nasdaq fell 0.94 percent to close at 6,905.92.
According to Michelle Lam, Greater China economist at Société Générale, “Today’s data show that the U.S. tariffs [are] starting to hurt. The reversal of the frontloaded orders may cause more serious slump over the next couple of months.”
The Market Edge Initiates Coverage on:
Array BioPharma Inc.
Array BioPharm's stock moved 3.61% lower Monday, to close the day at $17.07. The stock recorded a trading volume of 2,332,715 shares, which was below its three months average volume of 2,741,682 shares. In the last year, Array BioPharma's shares have traded in a range of 12.56 - 20.21. The share price has gained 35.91% 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 $15.59 is above its 200-day moving average of $15.36. Shares of Array BioPharma have gained roughly 6.89 percent in the past month and are up 19.79 percent year-to-date.
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On Monday, shares of VIVUS recorded a trading volume of 1,204,084 shares, which was above the three months average volume of 113,667 shares. The stock ended the day 38.2% higher at $4.45. The share price has fallen 55.05% from its 52 week high with a 52 week trading range of 2.15 - 9.90. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $2.73 is below its 200-day moving average of $4.77. Shares of VIVUS have gained roughly 58.36 percent in the past month and are up 99.55 percent year-to-date.
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SOURCE: The Market Edge