NEW YORK, NY / ACCESSWIRE / October 19, 2017 / All three major Indexes closed in the green Wednesday on the latest batch of corporate earnings, with the Dow Jones Industrial Average closing above the 23,000 plateau for the first time ever. The Dow Jones jumped 0.70 percent to close at 23,157.60, while the S&P 500 Index increased 0.07 percent to close at 0.07 percent. The NASDAQ Composite Index eked out a slight gain of 0.01 percent to close at 6,624.22. On Wednesday, International Business Machines Corp. was the latest major company to report results that topped expectations. The company reported earnings per share of $3.30 on revenues of $19.15 billion for the third quarter of 2017, which topped estimates of earnings of $3.28 per share on sales of $18.6 billion, according to analysts' surveyed by Reuters.

"Retail investors continue to pour into the marketplace, and with each headline about a new record, and especially round numbers like that, people tend to feel like they're missing out and you kind of suck more people into the market," said Ian Winer, head of equities at Wedbush Securities in Los Angeles, according to Reuters.

"Ultimately, the only way you're going to top is by getting everybody all in. And we're getting close."

RDI Initiates Coverage on:

Facebook Inc.
https://rdinvesting.com/news/?ticker=FB

Snap Inc.
https://rdinvesting.com/news/?ticker=SNAP

Facebook Inc.'s stock edged 0.05% lower Wednesday, to close the day at $176.03. The stock recorded a trading volume of 12,748,482 shares, which was below its three months average volume of 15,837,700 shares. In the last year, Facebook Inc.'s shares have traded in a range of 113.55 - 176.74. The share price has gained 55.02% from 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 $170.69 is greater than its 200-day moving average of $158.55. Shares of Facebook Inc. are trading at a Price to Earnings ratio of 39.40. Shares of Facebook have gained approximately 53 percent year-to-date.

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

On Wednesday, shares of Snap Inc. recorded a trading volume of 18,324,651 shares, which was below the three months average volume of 29,647,500 shares. The stock ended the day 2.11% lower at 15.75. The share price has gained 39.63% from its 52-week low with a 52-week trading range of 11.28 - 29.44.The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $14.76 is below its 200-day moving average of $17.23. Shares of Snap have fallen approximately 35.66 percent year-to-date.

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

Our Actionable Research on Facebook Inc. (NASDAQ: FB) and Snap Inc. (NYSE: SNAP) can be downloaded free of charge at Research Driven Investing.

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