NEW YORK, NY / ACCESSWIRE / May 29, 2018 / OPEC and major oil-producer Russia were considering an increase in supply, pressuring energy stocks lower. U.S. markets however posted weekly gains on Friday, buoyed by strong performance from the technology shares. The Dow Jones Industrial Average dropped 0.24 percent to close at 24,753.09, while the S&P 500 Index declined 0.24 percent to close at 2,721.33. The Nasdaq Composite Index increased 0.13 percent to close at 7,433.85. For the week, Dow and S&P gained a modest 0.2 percent and 0.3 percent respectively while Nasdaq closed with a strong gain of 1.1 percent.
“If the Saudis do lift oil production, that could be the news of the day. It may result in a weak patch for the energy sector, but for the broader market that could be offset by a rise in sentiment if it results in gas prices falling going into the summer driving season,” said John Augustine, chief investment officer at Huntington Private Bank.
RDI Initiates Coverage on:
Starbucks Corporation
https://rdinvesting.com/news/?ticker=SBUX
The Coca-Cola Company
https://rdinvesting.com/news/?ticker=KO
Starbucks' stock moved 0.42% Friday, to close the day at $57.92. The stock recorded a trading volume of 4,873,322 shares, which was below its three months average volume of 8,137,733 shares. In the last year, Starbucks' shares have traded in a range of 52.58 - 64.87. The share price has gained 10.16% 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 $57.99 is above its 200-day moving average of $57.85. Shares of the company are trading at a Price to Earnings ratio of 19.20. Shares of Starbucks have fallen roughly 0.75 percent in the past month and are up 0.85 percent year-to-date.
Access RDI's Starbucks Corporation Research Report at:
https://rdinvesting.com/news/?ticker=SBUX
On Friday, shares of The Coca-Cola recorded a trading volume of 8,806,470 shares, which was below the three months average volume of 12,256,312 shares. The stock ended the day 0.19% higher at $42.40. The share price has fallen 12.79% from its 52-week high with a 52-week trading range of 41.45 - 48.62. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $42.91 is below its 200-day moving average of $44.62. Shares of the company are trading at a Price to Earnings ratio of 145.21. Shares of The Coca-Cola have fallen roughly 2.1 percent in the past month and are down 7.59 percent year-to-date.
Access RDI's The Coca-Cola Company Research Report at:
https://rdinvesting.com/news/?ticker=KO
Our Actionable Research on Starbucks Corporation (NASDAQ :SBUX) and The Coca-Cola Company (NYSE :KO) can be downloaded free of charge at Research Driven Investing.
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