NEW YORK, NY / ACCESSWIRE / June 29, 2018 / U.S. markets rebounded Thursday on the strength of the financial and technology sectors. The Dow Jones Industrial Average jumped 0.41 percent to close at 24,216.05, while the S&P 500 Index spiked 0.62 percent to close at 2,716.31. The Nasdaq Composite Index jumped 0.79 percent to close at 7,503.68. Shares of Bank of America, Citigroup, Goldman Sachs, J.P. Morgan and Morgan Stanley all posted gains of over 1 percent to lift the financial sector higher on Thursday.
"After 13 straight days of declines, financials finally bounced back. It's good to see the leadership from this sector," said Lindsey Bell, investment strategist at CFRA, according to MarketWatch. "Given the current environment when there lots of uncertainty surrounding global trade, investors continue to go to growth, such as technology shares and domestic stocks such as small-caps. Despite recent rotation, there has not been a real change in this sentiment," Bell said.
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Dropbox's stock jumped 6.98% Thursday, to close the day at $33.40. The stock recorded a trading volume of 5,663,420 shares, which was above its three months average volume of 4,280,670 shares. In the last year, Dropbox's shares have traded in a range of 27.75 - 43.50. The share price has gained 20.36% 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 $32.04 is above its 200-day moving average of $31.15. Shares of Dropbox have gained roughly 11.44 percent in the past month and are up 17.28 percent year-to-date.
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On Thursday, shares of Finisar recorded a trading volume of 3,712,742 shares, which was above the three months average volume of 2,872,448 shares. The stock ended the day 5.85% higher at $17.72. The share price has fallen 38.56% from its 52-week high with a 52-week trading range of 14.25 - 28.84. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $17.15 is below its 200-day moving average of $18.06. Shares of Finisar have gained roughly 4.11 percent in the past month and are down 12.92 percent year-to-date.
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