NEW YORK, NY / ACCESSWIRE / May 3, 2018 / U.S. markets closed lower Wednesday after the Fed released a statement indicating an interest rate increase would be likely in the coming months. The Dow Jones Industrial Average declined 0.72 percent to close at 23,924.98, while the S&P 500 shed 0.72 percent to close at 2,635.67. The Nasdaq Composite Index was down 0.42 percent to close at 7,100.90.
"There are concerns in the market that rising inflation will prompt the Fed to hike more than three times this year, but the Fed statement was reassuring as it did not hint of faster pace of hikes," said Kate Warne, investment strategist at Edward Jones.
"While this should be positive for markets in general, we should be careful to assigns today's modest moves to the Fed statement. Small moves often happen even without any news," Warne added.
RDI Initiates Coverage on:
Whiting Petroleum Corporation
https://rdinvesting.com/news/?ticker=WLL
Yamana Gold Inc.
https://rdinvesting.com/news/?ticker=AUY
Whiting Petroleum's stock jumped 4% Wednesday, to close the day at $43.73. The stock recorded a trading volume of 6,034,822 shares, which was above its three months average volume of 4,946,881 shares. In the last year, Whiting Petroleum's shares have traded in a range of 15.88 - 43.76. The share price has gained 175.38% 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 $35.60 is above its 200-day moving average of $28.20. Shares of Whiting Petroleum have gained roughly 33.57 percent in the past month and are up 65.14 percent year-to-date.
Access RDI's Whiting Petroleum Corporation Research Report at:
https://rdinvesting.com/news/?ticker=WLL
On Wednesday, shares of Yamana Gold recorded a trading volume of 15,718,726 shares, which was above the three months average volume of 12,322,695 shares. The stock ended the day 3.86% higher at $2.96. The share price has fallen 22.11% from its 52 week high with a 52 week trading range of 2.21 - 3.80. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $2.81 is below its 200-day moving average of $2.89. Shares of Yamana Gold have gained roughly 4.23 percent in the past month and are down 5.13 percent year-to-date.
Access RDI's Yamana Gold Inc. Research Report at:
https://rdinvesting.com/news/?ticker=AUY
Our Actionable Research on Whiting Petroleum Corporation (NYSE:WLL) and Yamana Gold Inc. (NYSE:AUY) can be downloaded free of charge at Research Driven Investing.
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