NEW YORK, NY / ACCESSWIRE / August 23, 2018 / U.S. markets were mixed on Wednesday, with the Dow Jones and S&P 500 finishing in the red, as the Federal Reserve meeting indicated another interest rate hike in September. The Dow Jones Industrial Average dropped 0.34 percent to close at 25,733.60, while the S&P 500 Index have declined 0.04 percent to close at 2,861.82. The Nasdaq Composite Index increased 0.38 percent to close at 7,889.10.
''Overall, nothing here to surprise the markets,'' said Paul Ashworth, chief U.S. economist at Capital Economics. ''Attention will now switch to Chair Jerome Powell's Jackson Hole speech this Friday. We expect him to deliver the same message on tightening evident in the minutes. We doubt that President Trump's criticism is going to change anything,” referring to President Trump's comments that he is ''not thrilled'' with the Fed's movement in raising interest-rate.
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YY's stock jumped 3.2% Wednesday, to close the day at $76.35. The stock recorded a trading volume of 1,112,279 shares, which was below its three months average volume of 1,627,440 shares. In the last year, YY's shares have traded in a range of 68.44 - 142.97. The share price has gained 11.56% from its 52 week low. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $91.14 is below its 200-day moving average of $105.91. Shares of the company are trading at a Price to Earnings ratio of 18.75. Shares of YY have fallen roughly 21.61 percent in the past month and are down 32.47 percent year-to-date.
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On Wednesday, shares of Momo recorded a trading volume of 12,270,911 shares, which was above the three months average volume of 5,051,979 shares. The stock ended the day 8.57% higher at $43.96. The share price has fallen 18.95% from its 52-week high with a 52-week trading range of 22.49 - 54.24. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $42.28 is above its 200-day moving average of $39.65. Shares of the company are trading at a Price to Earnings ratio of 24.99. Shares of Momo have fallen roughly 3.32 percent in the past month and are up 79.58 percent year-to-date.
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