NEW YORK, NY / ACCESSWIRE / January 31, 2019 / U.S. equities regained footing on Wednesday as investors cheered the latest round of corporate earnings and the Federal Reserve kept the interest rates unchanged at 2.25% to 2.50%. The Dow Jones Industrial Average went higher by 1.77 percent to close at 25,014.86, while the S&P 500 jumped 1.55 percent to settle at 2,681.05. The Nasdaq advanced 2.2 percent to close at 7,183.08.
According to the chief global market strategist at Invesco, Kristina Hooper, “More important than the Fed’s promise to be ‘patient’ about raising rates is the Fed’s assertion that it will not hesitate to make changes to balance sheet normalization. The balance sheet is a far more powerful tool, and one that has a bigger impact on the stock market.”
The Market Wealth Report Initiates Coverage on:
Intercept Pharmaceuticals, Inc.
Intercept Pharmaceuticals' stock jumped 3.39% Wednesday, to close the day at $116.16. The stock recorded a trading volume of 585,955 shares, which was above its three months average volume of 470,749 shares. In the last year, Intercept Pharmaceuticals' shares have traded in a range of 51.05 - 133.74. The share price has gained 127.54% 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 $106.04 is below its 200-day moving average of $106.25. Shares of Intercept Pharmaceuticals have gained roughly 15.25 percent in the past month.
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On Wednesday, shares of Moderna recorded a trading volume of 758,899 shares, which was below the three months average volume of 1,653,834 shares. The stock ended the day 3.42% higher at $15.13. The share price has fallen 33.49% from its 52
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SOURCE: The Market Wealth Report