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.”
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Shopify's stock jumped 3.39% Wednesday, to close the day at $162.43. The stock recorded a trading volume of 712,670 shares, which was below its three months average volume of 1,631,450 shares. In the last year, Shopify's shares have traded in a range of 112.06 - 176.60. The share price has gained 44.95% 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 $145.06 is below its 200-day moving average of $146.42. Shares of Shopify have gained roughly 17.32 percent in the past month.
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On Wednesday, shares of Splunk recorded a trading volume of 1,484,881 shares, which was below the three months average volume of 2,347,134 shares. The stock ended the day 3.87% higher at $122.78. The share price has fallen 5.55% from its 52 week high with a 52 week trading range of 82.63 - 130.00. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $109.68 is above its 200-day moving average of $107.60. Shares of Splunk have gained roughly 17.1 percent in the past month.
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