NEW YORK, NY / ACCESSWIRE / March 22, 2018 / The Federal Reserve announced it would be raising interest rates by 25 basis points. Shortly after the Fed's announcements, stocks hit the session highs. However, major Indexes closed lower Wednesday, probably as a reaction to the Fed's rate-hike forecast for 2019. The Dow Jones Industrial Average declined 0.18 percent to close at 24,682.31, while the S&P 500 Index also decreased 0.18 percent to close at 2,711.93. The Nasdaq Composite Index fell 0.26 percent to close at 7,345.29.
"The initial reaction in stock was because the median dot plot didn't go up for 2018," said James Athey, senior investment manager at Aberdeen Standard Investments, according to CNBC. "Then there was the more concerned reaction, with investors saying: 'Hold on, there's one more rate hike in for 2019.'"
RDI Initiates Coverage on:
Encana Corp.
https://rdinvesting.com/news/?ticker=ECA
Chesapeake Energy Corp.
https://rdinvesting.com/news/?ticker=CHK
Encana's stock jumped 8.86% Wednesday, to close the day at $12.17. The stock recorded a trading volume of 15,759,496 shares, which was above its three months average volume of 8,563,558 shares. In the last year, Encana's shares have traded in a range of 8.01 - 14.31. The share price has gained 51.94% 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 $11.03 is below its 200-day moving average of $11.68. Shares of the company are trading at a Price to Earnings ratio of 14.32. Shares of Encana have gained roughly 14.92 percent in the past month and are down 8.70 percent year-to-date.
Access RDI's Encana Corp. Research Report at:
https://rdinvesting.com/news/?ticker=ECA
On Wednesday, shares of Chesapeake Energy recorded a trading volume of 33,816.444 shares, which was below the three months average volume of 39,187,938 shares. The stock ended the day 3.86% higher at 3.23. The share price has gained 27.67% from its 52-week low with a 52-week trading range of 2.53 - 6.59. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $3.02 is below its 200-day moving average of $3.71. Shares of Chesapeake Energy have gained roughly 22.81 percent in the past month and are down 18.43 percent year-to-date.
Access RDI's Chesapeake Energy Corp. Research Report at:
https://rdinvesting.com/news/?ticker=CHK
Our Actionable Research on Encana Corp. (NYSE:ECA) and Chesapeake Energy Corp. (NYSE:CHK) can be downloaded free of charge at Research Driven Investing.
Research Driven Investing
We are committed to providing relevant and actionable information for the self-directed investor. Our research is reputed for being a leader in trusted, in-depth analysis vital for informed strategic trading decisions. The nimble investor can leverage our analysis and collective expertise to execute a disciplined approach to stock selection.
RDInvesting has not been compensated; directly or indirectly; for producing or publishing this document.
Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker-dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.
CONTACT
For any questions, inquiries, or comments reach out to us directly at:
Address:
Research Driven Investing, Unit #901 511 Avenue of the Americas, New York, NY, 10011
Email:
contact@rdinvesting.com
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: RDInvesting.com
