NEW YORK, NY / ACCESSWIRE / August 24, 2017 / U.S. markets dropped Wednesday after President Trump warned he would shut down the government if he did not receive funding for his border wall. The Dow Jones Industrial Average declined 0.35 percent to close at 21,822.25, while the S&P 500 Index fell 0.35 percent to close at 2,444.04. The NASDAQ Composite Index fell 6,278.41. Additionally, President Trump stated that he doubts the U.S. would be able to renegotiate the North Atlantic Free Trade Agreement (NAFTA). "I think we'll end up probably terminating NAFTA at some point," stated Trump.

"What we've seen over this last week or so in financial markets has been a bit of wiggling around regarding the U.S. political situation," said Paul Eitelman, multi-asset investment strategist at Russell Investments. "Ultimately, I don't think markets care that much about the noise coming out of Washington, D.C. but they're trying to translate what that noise means for the potential for tax reform."

RDI Initiates Coverage on:

Shopify Inc.
https://rdinvesting.com/news/?ticker=SHOP

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

Shopify Inc.'s stock moved 3.90% higher Wednesday, to close the day at $102.46. The stock recorded a trading volume of 2,374,294 shares, which was above its three months average volume of 1,978,900 shares. In the last year Shopify Inc.'s shares have traded in a range of 37.74 - 105.79. The share price has gained 171.49% from its 52 week low. The company's shares are currently trading above their 200-day moving average. Moreover, the stock's 50-day moving average of $93.35 is greater than its 200-day moving average of $80.58. Shares of Shopify have gained approximately 139 percent year-to-date.

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

On Wednesday, shares of Snap Inc. recorded a trading volume of 65,743,141 shares, which was above the three months average volume of 22,848,500 shares. The stock ended the day 3.85% higher at 15.09. The share price has gained 33.78% 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. Moreover, the stock's 50-day moving average of $14.26 is below its 200-day moving average of $18.80. Shares of Snap have fallen approximately 38.36 percent year-to-date.

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

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

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SOURCE: RDInvesting.com