NEW YORK, NY / ACCESSWIRE / September 13, 2018 / U.S. markets were mixed on Wednesday as technology shares declined, dragging the Nasdaq into the red. The Dow Jones Industrial Average climbed 0.11 percent to close at 25,998.92, while the S&P 500 Index jumped 0.04 percent to close at 2,888.92. The Nasdaq Composite Index dropped 0.23 percent to close at 7,954.23. Additionally, Apple’s revealing of its new products the iPhone XS, iPhone XS Max
According to J.J. Kinahan, chief market strategist at TD Ameritrade, “There’s not any great big news to trade on, so it’s likely we’ll primarily be moving on headlines, which means we can be up one hour and then moving down the next.”
“You have to separate a natural selloff from one driven by a real change in the market. It makes sense that we could see some selling after a remarkable year and a half, especially in areas like tech that have done well. But I don’t see a tone change in the market; the numbers continue to point to a strong economy,” Kinahan added, referring to latest market weakness.
RDI Initiates Coverage on:
Skechers U.S.A., Inc.
https://rdinvesting.com/news/?ticker=SKX
Fitbit, Inc.
https://rdinvesting.com/news/?ticker=FIT
Skechers U.S.A., Inc.'s stock moved 7.94% lower Wednesday, to close the day at $26.42. The stock recorded a trading volume of 8,148,320 shares, which was above its three months average volume of 3,422,282 shares. In the last year, Skechers U.S.A., Inc.'s shares have traded in a range of 23.80 - 43.08. The share price has gained 11.01% 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 $28.83 is below its 200-day moving average of $32.47. Shares of the company are trading at a Price to Earnings ratio of 21.94. Shares of Skechers U.S.A., Inc. have fallen roughly 9.8 percent in the past month and are down 30.18 percent year-to-date.
Access RDI's Skechers U.S.A., Inc. Research Report at:
https://rdinvesting.com/news/?ticker=SKX
On Wednesday, shares of Fitbit, Inc. recorded a trading volume of 8,900,217 shares, which was above the three months average volume of 5,907,128 shares. The stock ended the day 6.9% lower at $5.53. The share price has fallen 29.01% from its 52
Access RDI's Fitbit, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=FIT
Our Actionable Research on Skechers U.S.A., Inc. (NYSE
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.
CONTACT
For any questions, inquiries, or comments reach out to us directly at:
Address:
Email:
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: RDInvesting.com
https://www.accesswire.com/511905/Todays-Research-Reports-on-Trending-Tickers-Skechers-and-Fitbit