Equities gained in United States on Wednesday as the Dow Jones Industrial Average gained 0.64 percent or 81.21 points to settle at 12,756.96. Standard & Poor’s 500 index surged 0.87 percent or 11.40 points to close at 1,326.05 points while NASDAQ Composite index advanced 1.14 percent or 31.67 points to 2,818.31 for the day. Despite positive Dow Jones following stock witnessed correction.
Hewlett-Packard Company (NYSE:HPQ) fell 0.70 percent to close at $28.32 in yesterday’s session. The traded volume stood at 12.76 million stocks as compared to its average traded volume figure of 18.10 million stocks per day. The stock price is trading at its overbought level as per its relative strength index of 66.43 and has also moved 5.58 percent above its 50-days simple moving average.
Verizon Communications Inc (NYSE:VZ) declined 0.26 percent to close at $37.69 in yesterday’s session. The traded volume stood at 18.84 million stocks while on average its traded volume stands at 14.19 million stocks per day. Verizon is trading near its oversold level as per its relative strength index of 41.47. The stock price is trading at price to earnings of 15.14 times and dividend yield of 5.31 percent.
Merck & Co Inc (NYSE:MRK) slipped 0.26 percent to close at $38.68 with traded volume of 14.46 million stocks. On average Merck trades with average volume of 16.37 million stocks per day. The stock is trading at its overbought level as per its relative strength index of 65.14. The stock price also seems overvalued as per its price to earnings of 26.49 times.
