Today’s Research Reports on Trending Tickers: Bank of America and JPMorgan Chase
U.S. markets fell Wednesday after the Federal Reserve raised interest rates and hinted at more increases were coming in 2018. The Dow Jones Industrial Average dropped 0.47 percent to close at 25,201.20, while the S&P 500 Index fell 0.40 percent to close at 2,775.63. The Nasdaq Composite Index declined 0.11 percent to close at 7,695.70. On Wednesday, the Federal Reserve raised its benchmark short-term interest rate by 0.25 percent.
"I think the market is quite rightly globing on to the view that this is a more hawkish tone," said Eric Lascelles, chief economist at RBC Global Asset Management, according to CNBC. "On the economic side, notwithstanding a middling start to the year, second-quarter economic growth is tracking for 4 percent. While that’s probably not sustainable … all of the economic checkpoints are reading quite strong."
RDI Initiates Coverage on:
Bank of America Corporation
JPMorgan Chase & Co.
Bank of America’s stock moved 0.2% lower Wednesday, to close the day at $29.84. The stock recorded a trading volume of 68,900,241 shares, which was above its three months average volume of 66,892,610 shares. In the last year, Bank of America’s shares have traded in a range of 22.73 – 33.05. The share price has gained 31.28% 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 $30.08 is below its 200-day moving average of $30.47. Shares of the company are trading at a Price to Earnings ratio of 17.31. Shares of Bank of America have fallen roughly 3.49 percent in the past month and are up 1.08 percent year-to-date.
Access RDI’s Bank of America Corporation Research Report at:
On Wednesday, shares of JPMorgan Chase recorded a trading volume of 14,979,749 shares, which was above the three months average volume of 14,323,567 shares. The stock ended the day 0.2% lower at $109.97. The share price has fallen 7.84% from its 52 week high with a 52 week trading range of 85.82 – 119.33. The company’s shares are currently trading below their 200-day moving average. The stock’s 50-day moving average of $110.46 is below its 200-day moving average of $110.86. Shares of the company are trading at a Price to Earnings ratio of 17.43. Shares of JPMorgan Chase have fallen roughly 3.42 percent in the past month and are up 2.83 percent year-to-date.
Access RDI’s JPMorgan Chase & Co. Research Report at:
Our Actionable Research on Bank of America Corporation (NYSE:BAC) and JPMorgan Chase & Co. (NYSE:JPM) can be downloaded free of charge at Research Driven Investing.
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