NEW YORK, NY / ACCESSWIRE / July 30, 2018 / U.S. markets plunged on Friday, after Twitter reported disappointing second quarter earnings and gross domestic product reflected fairly strong economic growth, however was lower than expected. The Dow Jones Industrial Average fell 0.30 percent to close at 25,451.06, while the S&P 500 Index was down 0.66 percent to close at 2,818.82. The Nasdaq Composite Index dropped 1.46 percent to close at 7,737.42.
“A strong GDP number—and 4.1% is still a good number, even if it was a bit below consensus—will signal that the Fed can continue with its plan for rate increases. That will be top of mind for investors today,” said director of investment management for Huntington Private Bank, Chad Oviatt.
“We remain fairly constructive about equities. Generally speaking there’s a lot of confidence about earnings growth, and the number of firms that are meeting or beating expectations, even in light of names like Facebook,” he added.
RDI Initiates Coverage on:
iQIYI, Inc.
https://rdinvesting.com/news/?ticker=IQ
Sogou Inc.
https://rdinvesting.com/news/?ticker=SOGO
iQIYI’s stock moved 2.66% lower Friday, to close the day at $32.15. The stock recorded a trading volume of 12,424,674 shares, which was below its three months average volume of 23,856,461 shares. In the last year, iQIYI’s shares have traded in a range of 15.30 – 46.23. The share price has gained 110.13% 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 $34.82 is above its 200-day moving average of $26.22. Shares of iQIYI have fallen roughly 0.46 percent in the past month and are up 106.75 percent year-to-date.
Access RDI’s iQIYI, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=IQ
On Friday, shares of Sogou recorded a trading volume of 4,142,643 shares, which was above the three months average volume of 3,377,770 shares. The stock ended the day 4.09% lower at $10.33. The share price has fallen 33.35% from its 52 week high with a 52 week trading range of 7.91 – 15.50. The company’s shares are currently trading above their 200-day moving average. The stock’s 50-day moving average of $11.18 is above its 200-day moving average of $10.18. Shares of the company are trading at a Price to Earnings ratio of 47.60. Shares of Sogou have fallen roughly 9.62 percent in the past month and are down 10.72 percent year-to-date.
Access RDI’s Sogou Inc. Research Report at:
https://rdinvesting.com/news/?ticker=SOGO
Our Actionable Research on iQIYI, Inc. (NASDAQ: IQ) and Sogou Inc. (NYSE: SOGO) can be downloaded free of charge at Research Driven Investing.
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SOURCE: RDInvesting.com
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