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:

Insmed Incorporated
https://rdinvesting.com/news/?ticker=INSM

Arena Pharmaceuticals, Inc.
https://rdinvesting.com/news/?ticker=ARNA

Insmed's stock jumped 9.5% Wednesday, to close the day at $27.42. The stock recorded a trading volume of 1,701,134 shares, which was above its three months average volume of 801,377 shares. In the last year, Insmed's shares have traded in a range of 11.49 - 33.94. The share price has gained 138.64% 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 $23.36 is below its 200-day moving average of $27.02. Shares of Insmed have gained roughly 30.32 percent in the past month and are down 12.06 percent year-to-date.

Access RDI's Insmed Incorporated Research Report at:
https://rdinvesting.com/news/?ticker=INSM

On Wednesday, shares of Arena Pharmaceuticals recorded a trading volume of 1,147,490 shares, which was below the three months average volume of 1,382,108 shares. The stock ended the day 5.58% higher at $41.97. The share price has fallen 8.46% from its 52 week high with a 52 week trading range of 11.30 - 45.85. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $37.85 is above its 200-day moving average of $34.81. Shares of Arena Pharmaceuticals have gained roughly 18.9 percent in the past month and are up 23.55 percent year-to-date.

Access RDI's Arena Pharmaceuticals, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=ARNA

Our Actionable Research on Insmed Incorporated (NASDAQ :INSM) and Arena Pharmaceuticals, Inc. (NASDAQ :ARNA) can be downloaded free of charge at Research Driven Investing.

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