NEW YORK, NY / ACCESSWIRE / June 7, 2018 / U.S. equities closed in the green on Wednesday, as bond yields rose pushing financial sector higher. The Dow Jones Industrial Average jumped 1.40 percent to close at 25,146.39, logging its biggest one-day gain since April 10, while the S&P 500 Index climbed 0.86 percent to close at 2,772.35. The Nasdaq Composite Index was up 0.67 percent to close at 7,689.24.
''While investors continue to watch trade developments, it's really the rise in bond yields that is supporting the market today. The indication that the ECB could reduce bond purchases as early as next week has allowed long-term rates to move up, and that's driving financials higher, as higher rates support their outlook,'' said Kate Warne, investment strategist at Edward Jones.
''We're still in the stage of the economy where rising rates reflect stronger economic growth, as opposed to central banks trying to combat inflation. The ECB news is a relief rather than a worry,'' Warne added.
RDI Initiates Coverage on:
Charter Communications, Inc.
DISH Network Corporation
Charter Communications' stock jumped 3.44% Wednesday, to close the day at $275.09. The stock recorded a trading volume of 1,497,323 shares, which was below its three months average volume of 1,806,073 shares. In the last year, Charter Communications' shares have traded in a range of 250.10 - 408.83. The share price has gained 9.99% 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 $278.75 is below its 200-day moving average of $324.75. Shares of the company are trading at a Price to Earnings ratio of 8.07. Shares of Charter Communications have fallen roughly 0.35 percent in the past month and are down 18.12 percent year-to-date.
Access RDI's Charter Communications, Inc. Research Report at:
On Wednesday, shares of DISH Network recorded a trading volume of 3,918,810 shares, which was above the three months average volume of 2,624,178 shares. The stock ended the day 5.81% higher at $31.12. The share price has fallen 53.2% from its 52 week high with a 52 week trading range of 28.80 - 66.50. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $33.02 is below its 200-day moving average of $41.83. Shares of the company are trading at a Price to Earnings ratio of 7.64. Shares of DISH Network have fallen roughly 6.8 percent in the past month and are down 34.83 percent year-to-date.
Access RDI's DISH Network Corporation Research Report at:
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