NEW YORK, NY / ACCESSWIRE / September 24, 2018 / U.S. markets were mixed on Friday, with the Dow Jones managing to close at an all-time high despite a plunge in technology and internet stocks. Investors appear to be cautious as a potential trade war looms. The Dow Jones Industrial Average gained 0.32 percent to close at 26,743.50, while the S&P 500 Index declined 0.04 percent to close at 2,929.67. The Nasdaq Composite Index decreased 0.51 percent to close at 7,986.96. Trade tension between U.S. and China continues as President Donald Trump announced almost $500 billion tariffs on Chinese goods.
According to Peter Lazaroff, co-chief investment officer at Plancorp, “We don’t have a full-out trade war, and at this point, most people understand the impact of what’s happened so far won’t be too big on margins. And since earnings and revenue growth are as high as they’ve ever been, it’s perfectly fair for stocks to be at records.”
“However, given that valuations are pretty high, the prospect of our getting a pullback should be at the forefront of investors’ minds. That would just be part of a healthy, functioning market, however. Overall markets aren’t euphoric or complacent about the risks out there,” he added.
RDI Initiates Coverage on:
Barrick Gold Corporation
Kirkland Lake Gold Ltd.
Barrick Gold's stock moved 1.41% lower Friday, to close the day at $10.47. The stock recorded a trading volume of 24,759,666 shares, which was above its three months average volume of 12,173,974 shares. In the last year, Barrick Gold's shares have traded in a range of 9.53 - 16.84. The share price has gained 9.86% 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 $10.33 is below its 200-day moving average of $12.19. Shares of Barrick Gold have gained roughly 3.81 percent in the past month and are down 26.61 percent year-to-date.
Access RDI's Barrick Gold Corporation Research Report at:
On Friday, shares of Kirkland Lake Gold recorded a trading volume of 16,958,374 shares, which was above the three months average volume of 1,023,995 shares. The stock ended the day 2.94% higher at $18.58. The share price has fallen 22.13% from its 52 week high with a 52 week trading range of 11.52 - 23.86. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $19.42 is above its 200-day moving average of $18.90. Shares of the company are trading at a Price to Earnings ratio of 20.17. Shares of Kirkland Lake Gold have fallen roughly 1.8 percent in the past month and are up 20.96 percent year-to-date.
Access RDI's Kirkland Lake Gold Ltd. Research Report at:
Research Driven Investing
We are committed to providing relevant and actionable information for the self-directed investor. Our research is reputed for being a leader in trusted, in-depth analysis vital for informed strategic trading decisions. The nimble investor can leverage our analysis and collective expertise to execute a disciplined approach to stock selection.
RDInvesting has not been compensated; directly or indirectly; for producing or publishing this document.
Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer .
For any questions, inquiries, or comments reach out to us directly at:
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.