NEW YORK, NY / ACCESSWIRE / May 24, 2018 / U.S. markets rebounded modestly on Wednesday, following the release of Fed's minutes of the meeting, which suggest that the central bank will be slightly dovish in raising interest rate. The Dow Jones Industrial Average gained 0.21 percent to close at 24,886.81, while the S&P 500 Index increased 0.32 percent to close at 2,733.29. The Nasdaq Composite Index climbed 0.64 percent to close at 7,425.96.

"The 2% inflation target is not sacrosanct, the current environment required more flexibility from the Fed to let the economy grow at a faster pace," said Quincy Krosby, chief market strategist at Prudential Financial. "The minutes from the Fed suggest they are willing to keep rates lower for longer to allow the economy to recover," Krosby added.

RDI Initiates Coverage on:

MercadoLibre, Inc.
https://rdinvesting.com/news/?ticker=MELI

Signet Jewelers Ltd.
https://rdinvesting.com/news/?ticker=SIG

MercadoLibre's stock moved 3.40% higher Wednesday, to close the day at $304.79. The stock recorded a trading volume of 628,791 shares, which was below its three months average volume of 751,075 shares. In the last year, MercadoLibre's shares have traded in a range of 217.06 - 417.91. The share price has gained 40.42% from its 52 week low. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $326.18 is below its 200-day moving average of $332.84. Shares of the company are trading at a Price to Earnings ratio of 983.19. Shares of MercadoLibre have fallen roughly 7.77 percent in the past month and are down 3.14 percent year-to-date.

Access RDI's MercadoLibre, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=MELI

On Wednesday, shares of Signet Jewelers recorded a trading volume of 1,858,577 shares, which was below the three months average volume of 2,651,475 shares. The stock ended the day 3.39% higher at 41.19. The share price has gained 24.40% from its 52-week low with a 52-week trading range of 33.11 - 77.94. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $38.63 is below its 200-day moving average of $49.04. Shares of the company are trading at a Price to Earnings ratio of 5.54. Shares of Signet Jewelers have gained roughly 4.36 percent in the past month and are down 27.16 percent year-to-date.

Access RDI's Signet Jewelers Ltd. Research Report at:
https://rdinvesting.com/news/?ticker=SIG

Our Actionable Research on MercadoLibre, Inc. (NASDAQ :MELI) and Signet Jewelers Ltd. (NYSE :SIG) can be downloaded free of charge at Research Driven Investing.

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SOURCE: RDInvesting.com