NEW YORK, NY / ACCESSWIRE / April 24, 2018 / U.S. markets continued to slump on Monday as technology stocks fell, with Facebook, Amazon, Netflix and Alphabet all closing in the red, and interest rates continued to rise. The yield on the 10-year Treasury note touched a high of 2.99 percent. The Dow Jones Industrial Average declined 0.06 percent to close at 24,448.69, while the S&P 500 Index hit a low of 2,657.99, before settling to close at 2.670.29, an increase of 0.01 percent. The tech-heavy Nasdaq Composite Index fell 0.25 percent to close at 7,128.60.

"Any time there are inflation concerns, that's going to spook the market," said Mark Esposito, CEO of Esposito Securities, according to CNBC. "If the 10-year goes over 3 percent, that could be a catalyst for the market" to continue to slide.

RDI Initiates Coverage on:

Cleveland-Cliffs Inc.
https://rdinvesting.com/news/?ticker=CLF

Freeport-McMoRan Inc.
https://rdinvesting.com/news/?ticker=FCX

Cleveland-Cliffs? stock moved 5.96 percent lower Monday, to close the day at $7.26. The stock recorded a trading volume of 21,535,501 shares, which was above its three months average volume of 13,769,096 shares. In the last year, Cleveland-Cliffs? shares have traded in a range of 5.56 - 9.15. The stock is currently trading 30.58% above its 52 week low. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $7.12 is greater than its 200-day moving average of $7.05. Shares of the company are trading at a Price to Earnings ratio of 5.78. Shares of Cleveland-Cliffs have gained roughly 9.17 percent in the past month and are up 0.69 percent year-to-date.

Access RDI's Cleveland-Cliffs Inc. Research Report at:
https://rdinvesting.com/news/?ticker=CLF

On Monday, shares of Freeport-McMoRan recorded a trading volume of 14,924,599 shares, which was below the three months average volume of 17,742,272 shares. The stock ended the day 2.84% lower at $18.81. The stock is currently trading 7.11% below its 52 week high with a 52 week trading range of 11.05 - 20.25. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $18.13 is greater than its 200-day moving average of $17.11. Shares of the company are trading at a Price to Earnings ratio of 15.01. Shares of Freeport-McMoRan have gained roughly 7.36 percent in the past month and are down 0.79 percent year-to-date.

Access RDI's Freeport-McMoRan Inc. Research Report at:
https://rdinvesting.com/news/?ticker=FCX

Our Actionable Research on Cleveland-Cliffs Inc. (NYSE :CLF) and Freeport-McMoRan Inc. (NYSE :FCX) can be downloaded free of charge at Research Driven Investing.

Research Driven Investing

We are committed to providing relevant and actionable information for the self-directed investor. Our research is reputed for being a leader in trusted, in-depth analysis vital for informed strategic trading decisions. The nimble investor can leverage our analysis and collective expertise to execute a disciplined approach to stock selection.

RDInvesting has not been compensated; directly or indirectly; for producing or publishing this document.

Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker-dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

CONTACT

For any questions, inquiries, or comments reach out to us directly at:

Address:

Research Driven Investing, Unit #901 511 Avenue of the Americas, New York, NY, 10011

Email:

contact@rdinvesting.com

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: RDInvesting.com