Yahoo Finance Today's Research Reports on Trending Tickers: iQIYI and Momo
NEW YORK, NY / ACCESSWIRE / July 9, 2018 / U.S. equities posted solid gains on Friday, ending the week on a positive note, supported by a stronger-than-expected jobs report. The Dow Jones Industrial Average gained 0.41 percent to close at 24,456.48, while the S&P 500 Index climbed 0.85 percent to close at 2,759.82. The Nasdaq Composite Index spiked 1.34 percent to close at 7,688.39. For the week, the Dow Jones increased 0.8%, while the S&P 500 jumped 1.5%, and the Nasdaq hiked 2.4%.
"Perfect is the word for the jobs report. It was superb, literally nothing wrong with it," according to the chief equity market strategist at Federated Investors, Phil Orlando. "Not only was the headline number better than expected, but there were positive revisions for the previous months. Meanwhile, the rate of unemployment went up because of the growing participation rate, while at the same time wage inflation went down a tick. So we have a strengthening economy, with a strengthening labor market, with no runaway inflation. That's all extremely positive for the equity market," Orlando added.
RDI Initiates Coverage on:
iQIYI, Inc.
https://rdinvesting.com/news/?ticker=IQ
Momo Inc.
https://rdinvesting.com/news/?ticker=MOMO
iQIYI's stock moved 4.07% lower Friday, to close the day at $29.92. The stock recorded a trading volume of 37,612,154 shares, which was above its three months average volume of 18,806,912 shares. In the last year, iQIYI's shares have traded in a range of 15.30 - 46.23. The share price has gained 95.56% 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 $30.12 is above its 200-day moving average of $24.21. Shares of iQIYI have fallen roughly 8.84 percent in the past month and are up 92.41 percent year-to-date.
Access RDI's iQIYI, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=IQ
On Friday, shares of recorded a trading volume of 4,059,284 shares, which was below the three months average volume of 4,606,077 shares. The stock ended the day 5.07% higher at $46.44. The share price has fallen 14.38% from its 52 week high with a 52 week trading range of 22.49 - 54.24. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $47.28 is above its 200-day moving average of $36.44. Shares of the company are trading at a Price to Earnings ratio of 26.40. Shares of Momo have fallen roughly 10.71 percent in the past month and are up 89.71 percent year-to-date.
Access RDI's Momo Inc. Research Report at:
https://rdinvesting.com/news/?ticker=MOMO
Our Actionable Research on iQIYI, Inc. (NASDAQ: IQ) and Momo Inc. (NASDAQ: MOMO) can be downloaded free of charge at Research Driven Investing.
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SOURCE: RDInvesting.com
