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:
Aimmune Therapeutics, Inc.
Mirati Therapeutics, Inc.
Aimmune Therapeutics' stock moved 5.19% lower Monday, to close the day at $24.30. The stock recorded a trading volume of 578,689 shares, which was below its three months average volume of 716,543 shares. In the last year, Aimmune Therapeutics' shares have traded in a range of 21.38 - 42.00. The share price has gained 13.66% 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 $23.87 is below its 200-day moving average of $26.95. Shares of Aimmune Therapeutics have gained roughly 6.49 percent in the past month and are up 1.59 percent year-to-date.
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On Monday, shares of Mirati Therapeutics recorded a trading volume of 1,197,808 shares, which was above the three months average volume of 741,129 shares. The stock ended the day 4.68% higher at $63.71. The share price has fallen 2.51% from its 52 week high with a 52 week trading range of 23.11 - 65.35. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $42.23 is below its 200-day moving average of $47.97. Shares of Mirati Therapeutics have gained roughly 57.78 percent in the past month and are up 50.19 percent year-to-date.
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SOURCE: The Market Edge