NEW YORK, NY / ACCESSWIRE / February 5, 2018 / U.S. markets dropped sharply Friday as a better-than-expected jobs report sent interest rates higher. The yield on the benchmark 10-year Treasury bond hit a four year high of 2.85 percent. The Dow Jones Industrial Average dropped 2.54 percent to close at 25,520.96, for a weekly loss of 4.17 percent, the largest weekly decline for the Dow in over 2 years. The S&P 500 Index fell 2.12 percent to close at 2,762.13, for a weekly loss of 3.85 percent, while the Nasdaq Composite Index declined 1.96 percent to close at 7,240.95, for a weekly loss of 3.52 percent.

"The key for the market today is rising interest rates," said Mike Baele, managing director at U.S. Bank Wealth Management, according to CNBC. "The old adage is: 'Bull markets don't die of old age, they are killed by higher interest rates.' That looms large."

RDI Initiates Coverage on:

DryShips Inc. (NASDAQ: DRYS)
https://rdinvesting.com/news/?ticker=DRYS

Transocean Ltd. (NYSE: RIG)
https://rdinvesting.com/news/?ticker=RIG

DryShips' stock moved 4.28% lower Friday, to close the day at $3.13. The stock recorded a trading volume of 1,428,294 shares, which was below its three months average volume of 2,345,103 shares. In the last year, DryShips' shares have traded in a range of 0.98 - 5,977.99. The share price has gained 219.39% 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 $3.61 is greater than its 200-day moving average of $3.25. Shares of DryShips have fallen roughly 19.33 percent in the past month and are down 11.33 percent year-to-date.

Access RDI's DryShips Inc. Research Report at:
https://rdinvesting.com/news/?ticker=DRYS

On Friday, shares of Transocean recorded a trading volume of 13,795,865 shares, which was above the three months average volume of 11,589,818 shares. The stock ended the day 6.35% lower at 10.32. The share price has gained 43.33% from its 52 week low with a 52 week trading range of 7.20 - 14.33. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $11.10 is greater than its 200-day moving average of $9.92. Shares of Transocean have fallen roughly 12.47 percent in the past month and are down 3.37 percent year-to-date.

Access RDI's Transocean Ltd. Research Report at:
https://rdinvesting.com/news/?ticker=RIG

Our Actionable Research on DryShips Inc. (NASDAQ:DRYS) and Transocean Ltd. (NYSE:RIG) 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