NEW YORK, NY / ACCESSWIRE / January 14, 2019 /U.S. equities posted strong weekly gains, however, stock closed lower for the day on Friday on concerns over an ongoing U.S. government shutdown and worries about an economic slowdown in China. The Dow Jones Industrial Average dropped marginally by 0.02 percent to close 23,995.95, and S&P 500 was down by just 0.01 percent to settle at 2,596.64. The Nasdaq dropped 0.21 percent to close at 6,971.48. For the week, both Dow Jones Industrial Average and S&P 500 gained more than 2 percent and the Nasdaq Composite jumped 3.45 percent.
Joseph Song, an economist at Bank of America Merrill Lynch, said in a note to clients, "We think a deal will be reached to reopen the government, but only after economic, financial and/or political pain is felt," he added, "Every two weeks of a shutdown trims 0.1 [percentage points] from growth; additional drag is likely due to delays in spending and investment."
The Market Edge Initiates Coverage on:
Neurocrine Biosciences, Inc.
Moderna's stock jumped 3.16% Friday, to close the day at $17.00. The stock recorded a trading volume of 580,408 shares, which was below its three months average volume of 2,152,116 shares. In the last year, Moderna's shares have traded in a range of 13.03 - 22.75. The share price has gained 30.47% 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 $16.41 is equal to its 200-day moving average of $16.41. Shares of Moderna have fallen roughly 7.21 percent in the past month and are up 11.33 percent year-to-date.
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On Friday, shares of Neurocrine Biosciences recorded a trading volume of 862,119 shares, which was below the three months average volume of 1,177,844 shares. The stock ended the day 3.04% higher at $86.83. The share price has fallen 31.62% from its 52 week high with a 52 week trading range of 64.72 - 126.98. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $78.80 is below its 200-day moving average of $103.01. Shares of the company are trading at a Price to Earnings ratio of 851.27. Shares of Neurocrine Biosciences have gained roughly 18.93 percent in the past month and are up 21.59 percent year-to-date.
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