NEW YORK, NY / ACCESSWIRE / November 7, 2017 / U.S. markets once again reached record highs on Monday on news of merger deals within the tech industry and continued strength in corporate earnings. The Dow Jones Industrial Average gained 0.04 percent to close at 23,548.42, while the S&P 500 Index rose 0.13 percent to close at 2,591.13. The Nasdaq Composite Index jumped 0.33 percent to close at 6,786.44. Over 400 of the 500 companies in the S&P 500 Index have reported earnings so far. Earnings for the S&P 500 are estimated to have grown by approximately 8 percent in the third quarter, up from expectations of a 5.9 percent growth at the beginning of October, according to Thomson Reuters I/B/E/S.
"There is no reason for stocks to go down substantially at this point, as earnings growth is robust and global economy is improving. The path of least resistance is higher," said Steve Chiavarone, portfolio manager at Federated Global Allocation Fund, according to MarketWatch.
RDI Initiates Coverage on:
Rexahn Pharmaceuticals, Inc.
Idera Pharmaceuticals Inc.
Rexahn Pharmaceuticals shares increased 1.57 percent to close at $1.94 a share Monday. The stock traded between $1.86 and $1.95 on volume of 229,562 shares traded. In the last year, Rexahn Pharmaceuticals shares have traded in a range of 0.38 - 7.10. The share price is 410.52% higher than 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 $2.24 is below its 200-day moving average of $2.46. Shares of Rexahn Pharmaceuticals have fallen roughly 28.68 percent in the past month and are up 1267.16 percent year-to-date.
Access RDI's Rexahn Pharmaceuticals, Inc. Research Report at:
Idera Pharmaceuticals shares increased 4.02 percent to close at $1.81 a share Monday. The stock traded between $1.73 and $1.86 on volume of 13.66 million shares traded. The share price is 39.23% higher than its 52-week low with a 52-week trading range of 1.30 - 2.87. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $2.20 is greater than its 200-day moving average of $1.94. Shares of Idera Pharmaceuticals have fallen roughly 25.51 percent in the past month and are up 20.67 percent year-to-date.
Access RDI's Idera Pharmaceuticals Inc. Research Report at:
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