LONDON, UK / ACCESSWIRE / June 14, 2018 / U.S. markets fell Wednesday after the Federal Reserve raised interest rates and hinted at more increases were coming in 2018. The Dow Jones Industrial Average dropped 0.47 percent to close at 25,201.20, while the S&P 500 Index fell 0.40 percent to close at 2,775.63. The Nasdaq Composite Index declined 0.11 percent to close at 7,695.70. On Wednesday, the Federal Reserve raised its benchmark short-term interest rate by 0.25 percent.
"I think the market is quite rightly globing on to the view that this is a more hawkish tone," said Eric Lascelles, chief economist at RBC Global Asset Management, according to CNBC. "On the economic side, notwithstanding a middling start to the year, second-quarter economic growth is tracking for 4 percent. While that's probably not sustainable ... all of the economic checkpoints are reading quite strong."
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CBS Corporation's (NYSE: CBS) stock jumped 3.59% Wednesday, to close the day at $54.26. The stock recorded a trading volume of 6,966,018 shares, which was above its three months average volume of 3,775,418 shares. In the last year, CBS Corporation's shares have traded in a range of 47.54 - 68.75. The share price has gained 14.14% 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 $51.15 is below its 200-day moving average of $54.12. Shares of the company are trading at a Price to Earnings ratio of 61.59. Shares of CBS Corporation have gained roughly 3.31 percent in the past month and are down 8.03 percent year-to-date.
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On Wednesday, shares of HUYA Inc. (NYSE: HUYA) recorded a trading volume of 4,936,561 shares, which was below the three months average volume of 4,964,336 shares. The stock ended the day 7.51% higher at $38.94. The share price has fallen 1.67% from its 52 week high with a 52 week trading range of 15.25 - 39.60. The company's shares are currently trading above the moving average price of $25.01 since the day of listing on May 10. Shares of HUYA Inc. have gained roughly 142.47 percent in the past month.
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