NEW YORK, NY / ACCESSWIRE / June 1, 2018 / U.S. markets closed sharply lower on Thursday as the U.S. decided to impose tariffs on steel and aluminum imports from Canada, Mexico and the European Union. The tariffs incited promises of retaliation by trade partners and raised fears of a potential trade war. The Dow Jones Industrial Average dropped 1.02 percent to close at 24,415.84, while the S&P 500 Index declined 0.69 percent to close at 2,705.27. The Nasdaq Composite Index was down 0.27 percent to close at 7,442.12.

"The initial round of tariff threats by the Trump administration and the promises of retaliation by trade partners earlier this year were initially viewed by investors as opening gambits in negotiations that would lead to agreements," said Art Hogan, chief market strategist at B. Riley FBR.

RDI Initiates Coverage on:

Ulta Beauty, Inc.
https://rdinvesting.com/news/?ticker=ULTA

GameStop Corp.
https://rdinvesting.com/news/?ticker=GME

Ulta Beauty's stock moved 2.59% lower Thursday, to close the day at $246.91. The stock recorded a trading volume of 1,929,612 shares, which was above its three months average volume of 1,147,776 shares. In the last year, Ulta Beauty's shares have traded in a range of 187.96 - 314.86. The share price has gained 31.36% 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 $245.22 is above its 200-day moving average of $223.56. Shares of the company are trading at a Price to Earnings ratio of 27.56. Shares of Ulta Beauty have fallen roughly 1.59 percent in the past month and are up 10.4 percent year-to-date.

Access RDI's Ulta Beauty, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=ULTA

On Thursday, shares of GameStop recorded a trading volume of 6,489,228 shares, which was above the three months average volume of 4,623,473 shares. The stock ended the day 1.64% lower at $13.20. The share price has fallen 42.51% from its 52 week high with a 52 week trading range of 12.20 - 22.96. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $13.24 is below its 200-day moving average of $15.79. Shares of the company are trading at a Price to Earnings ratio of 38.82. Shares of GameStop have fallen roughly 3.30 percent in the past month and are down 26.46 percent year-to-date.

Access RDI's GameStop Corp. Research Report at:
https://rdinvesting.com/news/?ticker=GME

Our Actionable Research on Ulta Beauty, Inc. (NASDAQ :ULTA) and GameStop Corp. (NYSE :GME) can be downloaded free of charge at Research Driven Investing.

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SOURCE: RDInvesting.com