NEW YORK, NY / ACCESSWIRE / January 10, 2019 / U.S. markets rose for the fourth consecutive session on Wednesday as minutes released from the Federal Reserve's meeting in December showed the Fed would be “patient” when it came to interest rate hikes. The Dow Jones Industrial Average gained 0.39 percent to close at 23,879.12, while the S&P 500 Index rose 0.41 percent to settle at 2,584.96. The Nasdaq Composite Index surged 0.87 percent to close at 6,957.08.
"All the minutes are doing is confirming what they had already hinted at," said Larry McDonald, editor of The Bear Traps Report. "The Fed speak before the minutes was like a fire hose to calm down the markets."
The Market Edge Initiates Coverage on:
Arena Pharmaceuticals, Inc.
ACADIA Pharmaceuticals Inc.
Arena Pharmaceuticals' stock moved 1.64% higher Wednesday, to close the day at $43.98. The stock recorded a trading volume of 452,935 shares, which was below its three months average volume of 622,434 shares. In the last year, Arena Pharmaceuticals' shares have traded in a range of 30.00 - 50.05. The share price has gained 46.6% 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 $40.19 is below its 200-day moving average of $40.12. Shares of Arena Pharmaceuticals have gained roughly 8.46 percent in the past month and are up 12.91 percent year-to-date.
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On Wednesday, shares of ACADIA Pharmaceuticals recorded a trading volume of 1,809,970 shares, which was below the three months average volume of 2,477,193 shares. The stock ended the day 6.47% higher at $19.74. The share price has fallen 40.16% from its 52 week high with a 52 week trading range of 12.77 - 32.99. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $17.75 is above its 200-day moving average of $17.54. Shares of ACADIA Pharmaceuticals have gained roughly 8.40 percent in the past month and are up 22.08 percent year-to-date.
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