NEW YORK, NY / ACCESSWIRE / April 16, 2018 / U.S. equities plunged on Friday, but finished the week on a positive note, as bank earnings failed to lift market optimism amidst geopolitical anxiety. The Dow Jones Industrial Average dropped 0.50 percent to close at 24,360.14, ending the week 1.8 percent higher, while the S&P 500 Index fell 0.29 percent to close at 2,656.30, gained 2 percent for the week. The Nasdaq Composite Index declined 0.47 percent to close at 7,106.65, jumped 2.8 percent for the week.
"The bank earnings looked decent, but they weren't spectacular, and they certainly weren't great enough to push the stocks over important technical resistance," said Wayne Kaufman, chief market analyst at Phoenix Financial Services.
RDI Initiates Coverage on:
Goldman Sachs Group, Inc.
Bank of America Corporation
Goldman Sachs Group, Inc.'s stock moved 1.41% lower Friday, to close the day at $255.92. The stock recorded a trading volume of 3,026,173 shares, which was below its three months average volume of 3,577,745 shares. In the last year, Goldman Sachs Group's shares have traded in a range of 209.62 - 275.31. The share price has gained 22.09% 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 $259.19 is greater than its 200-day moving average of $252.37. Shares of Goldman Sachs Group are trading at a Price to Earnings ratio of 28.41. Shares of Goldman Sachs Group have fallen roughly 4.01 percent in the past month and are up 0.46 percent year-to-date.
Goldman Sachs Group, Inc. Research Report at:
On Friday, shares of Bank of America recorded a trading volume of 99,254,533 shares, which was above the three months average volume of 76,813,030 shares. The stock ended the day 2.77% lower at 29.80. The share price has gained 35.02% from its 52-week low with a 52-week trading range of 22.07 - 33.05. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $31.09 is greater than its 200-day moving average of $29.40. Shares of the company are trading at a Price to Earnings ratio of 19.11. Shares of Bank of America have fallen roughly 7.17 percent in the past month and are up 0.95 percent year-to-date.
Bank of America Corporation Research Report at:
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