NEW YORK, NY / ACCESSWIRE / January 7, 2019 / U.S. markets surged on Friday as employment data came in well above expectations. The Bureau of Labor Statistics reported 312,000 jobs were added in December, soaring past the expected increase of 182,000 jobs, according to economists polled by MarketWatch. The Dow Jones Industrial Average hiked 3.29 percent to close at 23,433.16, while the S&P 500 Index jumped 3.43 percent to close at 2,531.94. The Nasdaq Composite Index advanced 4.26 percent to close at 6,738.86.
According to Willie Delwiche, the Director and Investment Strategist of R.W. Baird & Co., the upbeat employment data and wage growth continues to beat expectations, “it makes it very difficult to argue that the Fed should come to a complete halt in hiking interest rates, or that the economy is meaningfully weakening.”
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58.com's stock jumped 9.87% Friday, to close the day at $56.89. The stock recorded a trading volume of 979,642 shares, which was below its three months average volume of 1,114,557 shares. In the last year, 58.com's shares have traded in a range of 50.30 - 89.90. The share price has gained 13.1% from 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 $56.76 is below its 200-day moving average of $65.29. Shares of the company are trading at a Price to Earnings ratio of 28.02. Shares of 58.com have fallen roughly 4.72 percent in the past month and are up 4.94 percent year-to-date.
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On Friday, shares of SINA recorded a trading volume of 568,153 shares, which was below the three months average volume of 780,626 shares. The stock ended the day 8.22% higher at $57.68. The share price has fallen 53.71% from its 52 week high with a 52 week trading range of 51.76 - 124.60. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $59.71 is below its 200-day moving average of $69.08. Shares of the company are trading at a Price to Earnings ratio of 27.64. Shares of SINA have fallen roughly 13.91 percent in the past month and are up 7.53 percent year-to-date.
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