NEW YORK, NY / ACCESSWIRE / October 20, 2017 / The Dow Jones and S&P 500 rallied late to close in the green Thursday, which was the 30th anniversary of the 1987 Black Monday stock market crash. The Dow Jones Industrial Average touched a low of 23,052.67 before settling to close at 23,163.04 an increase of 0.02 percent, while the S&P 500 Index hit a low of 2,547.92 before settling to close at 2,562.10, an increase of 0.03 percent. The NASDAQ Composite Index dragged behind, falling 0.29 percent to close at 6,605.07, as Alphabet (Google's parent company), Amazon, Facebook, and Netflix all closed lower.

"It is difficult to say whether today's modest pullback is in deference to the 1987 crash or something else," said Jack Ablin, Chief Investment Officer at BMO Private Bank, according to MarketWatch.

"While there is no question that markets are overvalued and we could see some corrections, the path of least resistance for stocks is still to go higher. I will start reducing risk when credit spreads begin to widen and when we see sustained signs of rising inflation," Ablin added.

RDI Initiates Coverage on:

Cirrus Logic Inc.
https://rdinvesting.com/news/?ticker=CRUS

Skyworks Solutions Inc.
https://rdinvesting.com/news/?ticker=SWKS

Cirrus Logic Inc.'s stock moved 3.77% lower Thursday, to close the day at $53.31. The stock recorded a trading volume of 1,143,628 shares, which was above its three months average volume of 1,020,160 shares. In the last year, Cirrus Logic Inc.'s shares have traded in a range of 49.05 - 71.97. The stock is currently trading 25.93% below its 52 week high. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $55.22 is below its 200-day moving average of $60.97. Shares of the company are trading at a Price to Earnings ratio of 12.47. Shares of Cirrus Logic have fallen approximately 5.71 percent year-to-date.

Access RDI's Cirrus Logic Inc. Research Report at:
https://rdinvesting.com/news/?ticker=CRUS

On Thursday, shares of Skyworks Solutions Inc. recorded a trading volume of 3,140,260 shares, which was above the three months average volume of 1,577,630 shares. The stock ended the day 3.75% lower at 103.32. The share price has gained 44.20% from its 52-week low with a 52-week trading range of 71.65 - 112.11. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $104.86 is greater than its 200-day moving average of $103.33. Shares of the company are trading at a Price to Earnings ratio of 19.83. Shares of Skyworks Solutions have gained approximately 38.39 percent year-to-date.

Access RDI's Skyworks Solutions Inc. Research Report at:
https://rdinvesting.com/news/?ticker=SWKS

Our Actionable Research on Cirrus Logic Inc. (NASDAQ: CRUS) and Skyworks Solutions Inc. (NASDAQ: SWKS) can be downloaded free of charge at Research Driven Investing.

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SOURCE: RDInvesting.com