NEW YORK, NY / ACCESSWIRE / January 29, 2019 / U.S. equities plunged on Monday following Caterpillar’s weaker-than-expected earnings report that dragged the tech sector lower. Additionally, fears over slowdown in China’s economic growth were reignited after Nvidia shrink its revenue forecast for the fourth quarter from $2.7 billion to $2.2 billion. The Dow Jones Industrial Average dropped 0.84 percent to close at 24,528.22, while the S&P 500 declined 0.78 percent to settle at 2,643.85. The Nasdaq was down 1.11 percent to close at 7,085.68.
“The Nvdia profit warning is [hurting market sentiment] more than the Caterpillar earnings miss,” said chief executive of the Opportunistic Trader, Larry Benedict. “Slowing demand in China hit them hard,” he added, causing the market to be anxious that Chinese “demand has slowed more than people imagine.”
The Market Wealth Report Initiates Coverage on:
Kirkland Lake Gold Ltd.
AngloGold Ashanti Ltd.
Kirkland Lake Gold's stock jumped 3.42% Monday, to close the day at $30.23. The stock recorded a trading volume of 1,311,214 shares, which was above its three months average volume of 1,112,618 shares. In the last year, Kirkland Lake Gold's shares have traded in a range of 13.09 - 30.27. The share price has gained 130.94% 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 $25.90 is above its 200-day moving average of $21.50. Shares of the company are trading at a Price to Earnings ratio of 30.57. Shares of Kirkland Lake Gold have gained roughly 16.14 percent in the past month and are up 15.87 percent year-to-date.
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On Monday, shares of AngloGold Ashanti recorded a trading volume of 3,322,235 shares, which was above the three months average volume of 3,188,750 shares. The stock ended the day 3.28% higher at $13.54. The share price has fallen 0% from its 52 week high with a 52 week trading range of 7.08 - 13.54. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $12.37 is above its 200-day moving average of $9.71. Shares of the company are trading at a Price to Earnings ratio of 314.88. Shares of AngloGold Ashanti have gained roughly 8.23 percent in the past month and are up 7.89 percent year-to-date.
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SOURCE: The Market Wealth Report