US stock markets gained on Friday as the Dow Jones Industrial Average gained 0.96 percent or 112.85 points to close at 11,893.79. Standard and Poor’s 500 index advanced 0.86 percent or 10.59 to 1,239.69 points while NASDAQ Composite surged 0.13 percent or 3.50 points to close at 2,625.15.
Cisco Systems Inc (NASDAQ:CSCO) was the top gainer among DJIA components in yesterday’s session and gained 5.68 percent to close at $18.61. The traded volume stood at 148.05 million shares as compared to its average traded volume figure of 65.52 million shares per day. The share price moved 11.20 percent above its 50-days simple moving average after yesterday’s surge. The relative strength index of 60.93 also shows that the stock is trading near its overbought level.
Merck & Co Inc (NYSE:MRK) surged 3.49 percent to close at $34.97 in yesterday’s trading session. The traded volume figure of 26.40 million shares as compared to its average volume of 17.58 million shares per day. The share price moved 7.07 percent above its 50-days simple moving average after yesterday’s gain. Merck & Co can be regarded as overvalued as per its price to earnings of 23.95 times.
The Walt Disney Company (NYSE:DIS) advanced 2.52 percent to close at $34.64 with traded volume of 12.15 million shares. On average the share price trades with volume figure of 13.27 million shares per day. The share price moved 5.49 percent above its 50-days simple moving average after yesterday’s surge and is trading at price to earnings ratio of 14.68 times.
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