ARNC - Today's Research Reports on Trending Tickers: Alcoa Corporation and Arconic Inc.
NEW YORK, NY / ACCESSWIRE / February 6, 2018 / The markets recent selloff continued Monday as a result of rising interest rates. Both the Dow Jones and the S&P 500 fell sharply to close in negative territory year-to-date. The Dow Jones Industrial Average dropped 4.60 percent to close at 24,345.75, down 1.51 percent year-to-date, while the S&P 500 Index fell 4.10 percent, the biggest one day drop for the index in six years, to close at 2,648.94, down 0.92 percent year-to-date. All of the sectors in the S&P 500 and the 30 members of the Dow closed in the red on Monday.
"We're not used to getting washouts like this anymore," said Quincy Krosby, chief market strategist at Prudential Financial, according to CNBC. "The buy-the-dip mentality that has taken over hasn't allowed for that."
"This sell-off, in the bigger scheme of things, is not that big. But it is very important in psychological terms," Krosby said.
RDI Initiates Coverage on:
Alcoa Corporation
https://rdinvesting.com/news/?ticker=AA
Arconic Inc.
https://rdinvesting.com/news/?ticker=ARNC
Alcoa’s stock moved 1.28% lower Monday, to close the day at $48.46. The stock recorded a trading volume of 3,865,485 shares, which was below its three months average volume of 4,445,455 shares. In the last year, Alcoa's shares have traded in a range of 29.55 - 57.50. The share price has gained 63.99% 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 $52.90 is greater than its 200-day moving average of $45.42. Shares of the company are trading at a trailing Price to Earnings ratio of 41.78. Shares of Alcoa have fallen roughly 10.41 percent in the past month and are down 10.04 percent year-to-date.
Access RDI’s Alcoa Corporation Research Report at:
https://rdinvesting.com/news/?ticker=AA
On Monday, shares of Arconic recorded a trading volume of 10,925,985 shares, which was above the three months average volume of 3,286,178 shares. The stock ended the day 8.90% lower at 26.52. The share price has gained 21.88% from its 52 week low with a 52 week trading range of 21.76 - 31.17.The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $29.03 is greater than its 200-day moving average of $26.07. Shares of Arconic have fallen roughly 10.44 percent in the past month and are down 2.68 percent year-to-date.
Access RDI’s Arconic Inc. Research Report at:
https://rdinvesting.com/news/?ticker=ARNC
Our Actionable Research on Alcoa Corporation (NYSE:AA) and Arconic Inc. (NYSE:ARNC) can be downloaded free of charge at Research Driven Investing.
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SOURCE: RDInvesting.com