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:
Pivotal Software, Inc.
ServiceNow's stock jumped 4.97% Wednesday, to close the day at $194.00. The stock recorded a trading volume of 4,251,489 shares, which was above its three months average volume of 2,076,752 shares. In the last year, ServiceNow's shares have traded in a range of 137.60 - 206.30. The share price has gained 40.99% 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 $181.61 is below its 200-day moving average of $183.60. Shares of ServiceNow have gained roughly 8.96 percent in the past month.
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On Wednesday, shares of Pivotal Software recorded a trading volume of 3,815,825 shares, which was above the three months average volume of 1,714,772 shares. The stock ended the day 7.67% higher at $18.52. The share price has fallen 40.72% from its 52 week high with a 52 week trading range of 14.43 - 31.24. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $16.75 is below its 200-day moving average of $20.35. Shares of Pivotal Software have gained roughly 13.27 percent in the past month.
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SOURCE: The Market Wealth Report