Yahoo Finance Today’s Research Reports on Trending Tickers: Bank of America and Citigroup
NEW YORK, NY / ACCESSWIRE / February 15, 2018 / U.S. markets rallied sharply from early losses Wednesday as inflation fears appear to be easing on Wall Street. The Dow Jones Industrial Average jumped 1.03 percent to close at 24,893.49, for its fourth consecutive daily gain, while the S&P 500 Index spiked 1.34 percent to close at 2,698.63. The Nasdaq Composite Index surged 1.86 percent to close at 7,143.62.
"Anything with inflation seems like a hot button nowadays, but it is a bit of a red herring here: higher inflation and higher rates are symptoms of economic health. And while inflation is rising it's still below trend," said Karyn Cavanaugh, senior market strategist at Voya Financial, according to MarketWatch.
"At this point it's not inflation but reflation and the Fed will not pull the trigger that fast," said Cavanaugh.
RDI Initiates Coverage on:
Bank of America Corporation
https://rdinvesting.com/news/?ticker=BAC
Citigroup, Inc.
https://rdinvesting.com/news/?ticker=C
Bank of America's stock moved 2.63% higher Wednesday, to close the day at $32.00. The stock recorded a trading volume of 97,211,742 shares, which was above its three months average volume of 76,452,209 shares. In the last year, Bank of America's shares have traded in a range of 22.07 - 32.67. The share price has gained 44.99% 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 $30.98 is greater than its 200-day moving average of $27.28. Shares of Bank of America are trading at a Price to Earnings ratio of 20.51. Shares of Bank of America have gained roughly 2.6 percent in the past month and are up 8.4 percent year-to-date.
Access RDI's Bank of America Corporation Research Report at:
https://rdinvesting.com/news/?ticker=BAC
On Wednesday, shares of Citigroup recorded a trading volume of 16,261,319 shares, which was below the three months average volume of 16,542,069 shares. The stock ended the day 2.04% higher at 76.71. The share price has gained 35.65% from its 52 week low with a 52 week trading range of 56.55 - 80.70. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $76.33 is greater than its 200-day moving average of $72.84. Shares of Citigroup have fallen roughly 0.17 percent in the past month and are up 3.09 percent year-to-date.
Access RDI's Citigroup, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=C
Our Actionable Research on Bank of America Corporation (NYSE:BAC) and Citigroup, Inc. (NYSE:C) can be downloaded free of charge at Research Driven Investing.
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