NEW YORK, NY / ACCESSWIRE / September 20, 2018 / Wall Street posted mixed results on Wednesday as tech shares weakened and trade tensions continued to rise. The Dow Jones Industrial Average gained 0.61 percent to close at 26,405.76, while the S&P 500 Index hiked 0.13 percent to close at 2,907.95. The Nasdaq Composite Index shed 0.08 percent to close at 7,950.04.
“We could be near peak political trade rhetoric, but without any visible effect on economic data, investors are just looking through the noise. We're essentially still in a negotiation phase, and until we have set policies that we can evaluate, markets will continue to ignore this to a certain extent,” said chief investment officer of BNY Mellon's Lockwood Advisors, Matt Forester.
“The U.S. environment remains very positive, and there's a big difference between the sensitivity of the stock market to trade - which is most important to large U.S. stocks - and the sensitivity of the overall economy,” he added.
RDI Initiates Coverage on:
Acceleron Pharma Inc.
Acceleron Pharma's stock jumped 4.28% Wednesday, to close the day at $56.34. The stock recorded a trading volume of 665,455 shares, which was above its three months average volume of 460,143 shares. In the last year, Acceleron Pharma's shares have traded in a range of 32.53 - 56.73. The share price has gained 73.19% 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 $49.07 is above its 200-day moving average of $41.84. Shares of Acceleron Pharma have gained roughly 16.43 percent in the past month and are up 32.75 percent year-to-date.
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On Wednesday, shares of
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