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:
Domino's Pizza, Inc.
Restaurant Brands International Inc.
Domino's Pizza's stock jumped 3.69% Wednesday, to close the day at $273.16. The stock recorded a trading volume of 649,818 shares, which was above its three months average volume of 595,080 shares. In the last year, Domino's Pizza's shares have traded in a range of 198.51 - 305.34. The share price has gained 37.61% 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 $248.85 is below its 200-day moving average of $270.61. Shares of the company are trading at a Price to Earnings ratio of 34.67. Shares of Domino's Pizza have gained roughly 16.56 percent in the past month and are up 10.15 percent year-to-date.
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On Wednesday, shares of Restaurant Brands International recorded a trading volume of 9,082,873 shares, which was above the three months average volume of 1,548,295 shares. The stock ended the day 9.78% higher at $62.61. The share price has fallen 3.93% from its 52 week high with a 52 week trading range of 50.20 - 65.17. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $54.24 is below its 200-day moving average of $57.84. Shares of the company are trading at a Price to Earnings ratio of 18.58. Shares of Restaurant Brands International have gained roughly 23.71 percent in the past month and are up 19.71 percent year-to-date.
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SOURCE: The Market Wealth Report