The S&P 500 and Nasdaq composite closed lower on Friday as tensions between the U.S. and China weighed on shareholder sentiment while both countries continued negotiations on trade.
The broad index fell 0.26 percent to 2,712.97 with energy and financials lagging. The Nasdaq composite declined 0.38 percent to 7,354.34. The Dow Jones industrial average bucked the negative trend, closing just above the flatline at 24,715.09 as Boeing and Caterpillar shares rose 2 percent and 1 percent, respectively.
On Thursday, the two leading economies in the world began the second round of trade talks. But President Donald Trump told reporters he doubted the negotiations would be successful.
Later, reports emerged saying China would offer the U.S. a $200 billion trade surplus cut. Those reports, however, were quickly denied by a Chinese ministry spokesman on Friday. “This rumor is not true. This I can confirm to you,” the spokesman said. “As I understand, the relevant consultations are ongoing and they are constructive.”
Tensions between the U.S. and China have raised in recent months as both countries have hit each other with tariffs targeting some of their exports.
The major indexes posted slight weekly losses. The Dow and S&P 500 both fell 0.5 percent for the week, while the Nasdaq pulled back 0.7 percent. The move lower this week took place after the averages jumped more than 2 percent last week.
In corporate news, Nordstrom shares dropped nearly 11 percent after the Seattle-based retailer stated same-store sales that missed analyst expectations. The miss was enough to overshadow better-than-predictable revenue and earnings for the first quarter.
Applied Materials also dropped 8 percent after the company issued guidance that disdesignated shareholders. (Source: CNBC)
Top Pick for Monday: Link Motion Inc (NYSE: LKM)
Link Motion Inc (NYSE: LKM) has grabbed attention from the analysts when it experienced a change of 22.37% in the last trading session to close at $1.03. A total of 3,975,360 shares exchanged hands during the intra-day trade contrast with its average trading volume of 524.76K shares, while its relative volume stands at 7.58. Relative volume is the comparison of current volume to average volume for the same time of day, and it’s displayed as a ratio. If RVOL is less than 1 it is not In Play on this trading day and Investors may decide not to trade it. If RVOL is above 2 it is In Play and this is more evidence Investors ought to be in the name. When stocks are *very* In Play one can see a RVOL of 5 and above. The higher the RVOL the more In Play the stock is.
Volatility is simply a measure of the predictable daily price range—the range in which a day trader operates. More volatility means greater profit or loss. After a recent check, Link Motion Inc (NYSE: LKM) stock is found to be 42.81% volatile for the week, while 14.92% volatility is recorded for the month.
The stock has a market cap of $82.20M and the number of outstanding shares has been calculated 79.81M. Based on a recent bid, its distance from 20 days simple moving average is -39.91%, and its distance from 50 days simple moving average is -45.00% while it has a distance of -66.80% from the 200 days simple moving average. The company’s distance from 52-week high price is -77.99% and the current price is 86.59% away from 52-week low price. The company has Relative Strength Index (RSI 14) of 30.85 together with Average True Range (ATR 14) of 0.19.
Past 5 years growth of LKM observed at -23.90%, and for the next five years the analysts that follow this company is expecting its growth at 40.00%. The stock’s price to sales ratio for trailing twelve months is 0.59 and price to book ratio for the most recent quarter is N/A, whereas price to cash per share for the most recent quarter are 0.26. Its quick ratio for the most recent quarter is 1.60. Analysts mean recommendation for the stock is 2.00. This number is based on a 1 to 5 scale where 1 indicates a Strong Buy recommendation while 5 represents a Strong Sell.
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