NEW YORK, NY / ACCESSWIRE / October 11, 2017 / U.S. major indexes continued to hit new record highs Tuesday as consumer staples were lifted by Wal-Mart Stores Inc.'s announcement of a $20 billion share repurchase program. The Dow Jones Industrial Average gained 0.31 percent to close at a record 22,830.68, its 47th record close in 2017, while the S&P 500 Index hit an intra-day record of 2,555.23 before settling to close at 2,550.64, an increase of 0.23 percent. The NASDAQ Composite Index hit an intra-day record of 6,608.30 before settling to close at 6,587.25, an increase of 0.11 percent. Corporate earnings will now be a main focus amongst investors as earnings season is set to kick off this week.
"We think valuations are fair and we're not expecting any big surprises out of earnings season, which should be pretty strong," said Michael Matousek, head trader at U.S. Global Investors Inc. in San Antonio, according to MarketWatch. "I don't think we're going to see major moves to the upside or the downside until earnings, because people are waiting to see where major companies like [Facebook Inc.] come in, but there is optimism."
RDI Initiates Coverage on:
Chesapeake Energy Corporation
http://www.rdinvesting.com/report/?ticker=CHK
Apache Corporation
http://www.rdinvesting.com/report/?ticker=APA
Shares of Chesapeake Energy Corporation decreased 6.68% to close at $3.91 on Tuesday. The stock traded between $3.91 and $4.23 on volume of 43.1 million shares traded, which was above its three months average volume of 30.70 million shares. Over the past year, Chesapeake Energy Corporation has traded in a range of 3.55 to 8.20. The company's 50-day moving average is $4.00, which is less than its 200-day moving average of $4.84. The stock currently has a consensus analyst rating of 3.25 and a consensus target price of $5.57, up from a consensus analyst rating of 3.00 three months ago. Shares of Chesapeake have fallen approximately 44.3 percent year-to-date.
Access RDI's Chesapeake Energy Corporation Research Report at:
http://www.rdinvesting.com/report/?ticker=CHK
On Tuesday, Apache Corporation declined 7.39% to close at $42.46. Shares traded in the range of $42.41 and $45.26 on volume of 10.11 million shares traded, above the stock's three months average volume of 3.5 million shares. Over the past year, Apache Corporation has traded in a range of 38.14 to 69.00. Apache Corporation's 50-day moving average of $42.22 is below its 200-day moving average of $46.84. The consensus analyst rating currently on the stock is 3.29 with a consensus target price of $47.00, which is up when compared to a consensus analyst rating of 3.16 three months ago. Shares of Apache are down approximately 33.1 percent year-to-date.
Access RDI's Apache Corporation Research Report at:
http://www.rdinvesting.com/report/?ticker=APA
Our Actionable Research on Chesapeake Energy Corporation (NYSE: CHK) and Apache Corporation (NYSE: APA) can be downloaded free of charge at Research Driven Investing.
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