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Thursday, October 22, 2020

US Market Weekly Overview: Pre Market Gainers (RIG, STX, COH)

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U.S. stock market is advancing over the past two weeks exhibiting a fabulous week on wall street. As the Hillary Clinton emerged on top, the stock market continued to perform very well. This is because 45% investors are preferring Clinton over Donald Trump as they think that Clinton would be better for the stock market.

Consensus on the Wall Street is giving the edge to Hillary as she came up with different ideas to boost economy and offered a major surge to infrastructure, IT etc.

However, influx of international investment also contributed majorly in boosting the economy. The Dow Jones industrial average and S&P 500 moved up on consecutive days to all-time highs. More stocks are advancing on New York Stock Exchange as compared to declining stocks. NASDAQ also performed strongly.

The Dow Jones Industrial Average’s DJIA, +0.05% was 7% higher within three months, 15% higher in six months, and 20% higher in one year. If we look at S&P 500, the index closed up 7.26 points, or 0.3%, exceeding its prior record of 2132.80 to 2,137.16.

Pre-Market Gainers:

Here are some stocks of S&P 500 index with price gains in pre-market trading.

Transocean LTD (NYSE:RIG), an international provider of drilling services for oil and gas wells, jumped +2.30% with a price of $12.43 in pre-market trading. Transocean LTD (NYSE:RIG) has earnings per share of $4.18 and its EPS is expected to grow 141.60% this year.

Seagate Technology PLC (NASDAQ:STX) is also one of the gainers of pre-market trading. Company increased +1.28% with a price of $29.27. Moreover, Seagate Technology. had its “buy” rating repeated by analysts at Jefferies. They now have a price target of $26 on the stock.

Coach Inc (NYSE:COH), a design house of modern luxury accessories and lifestyle collections, gained +0.95% with a price of $42.70. Coach Inc also has positive weekly performance of 1.78% and monthly performance of 10.39%. Stock has a market cap of 11.75 billion.

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