NEW YORK, NY / ACCESSWIRE / February 26, 2018 / U.S. market rallied on Friday as investors awaited an update on interest rates from the Federal Reserve. The Dow Jones Industrial Average was up by 1.39 percent to close at 25,309.99, benefiting from gains in companies like Goldman Sachs Group, while the Nasdaq Composite Index spiked 1.77 percent to close at 7,337.39. The S&P 500 Index jumped 1.60 percent to close at 2,747.30, with the utilities sector closing up above 2 percent and telecommunication closing above 1%.
"I think it was very impressive move for stocks [Friday] after seeing these heavy market selloffs," said J.J. Kinahan, chief strategist at TD Ameritrade. He also said that the monetary policy update and dovish comments from the Fed helped relieve market tension. "I think we are set up for an interesting Monday morning. Can we build on this momentum and go forward or is this as quick fade," Kinahan added.
RDI Initiates Coverage on:
Albemarle Corporation
https://rdinvesting.com/news/?ticker=ALB
Anadarko Petroleum Corporation
https://rdinvesting.com/news/?ticker=APC
Albemarle's stock moved 4.46% higher Friday, to close the day at $118.75. The stock recorded a trading volume of 2,142,290 shares, which was above its three months average volume of 1,806,945 shares. The company announced quarterly dividend of $0.335 per share, an increase of nearly 5% over the previous quarterly dividend of $0.32. This quarter marks the 24th consecutive year of increase in quarterly dividend. In the last year, Albemarle's shares have traded in a range of 92.22 - 144.99. The share price has gained 28.77% 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 $116.16 is below its 200-day moving average of $126.85. Shares of Albemarle are trading at a Price to Earnings ratio of 15.29. Shares of Albemarle have gained roughly 1.58 percent in the past month and are down 7.15 percent year-to-date.
Access RDI's Albemarle Corporation Research Report at:
https://rdinvesting.com/news/?ticker=ALB
On Friday, shares of Anadarko Petroleum recorded a trading volume of 5,063,642 shares, which was below the three months average volume of 5,737,290 shares. The stock ended the day 4.36% higher at 60.82. The share price has gained 52.20% from its 52-week low with a 52-week trading range of 39.96 - 66.66. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $58.79 is greater than its 200-day moving average of $50.19. Shares of Anadarko Petroleum have fallen roughly 1.09 percent in the past month and are up 13.39 percent year-to-date.
Access RDI's Anadarko Petroleum Corporation Research Report at:
https://rdinvesting.com/news/?ticker=APC
Our Actionable Research on Albemarle Corporation (NYSE:ALB) and Anadarko Petroleum Corporation (NYSE:APC) can be downloaded free of charge at Research Driven Investing.
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