NEW YORK, NY / ACCESSWIRE / December 14, 2017 / U.S. markets were mixed Wednesday after the Federal Reserve raised interest rates for the third time this year. The Dow Jones Industrial Average rose 0.33 percent to close at 24,585.43, while the S&P 500 Index declined 0.05 percent to close at 2,662.85. It was the fourth day of consecutive record closes for both the Dow. The Nasdaq Composite Index gained 0.20 percent to close at 6,875.80. The Fed raised interest rates by 0.25 percent to range between 1.25 percent and 1.5 percent.
"There were no major surprises [in the announcement] and inflation remains below the Fed's target," said Jeff Carbone, managing partner of Cornerstone Financial Partners, according to CNBC. "The one thing to look out for is whether the economy starts to heat up. That could force the Fed to raise rates quicker."
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eBay's stock edged 0.11% lower Wednesday, to close the day at $37.40. The stock recorded a trading volume of 5,901,802 shares, which was below its three months average volume of 8,913,337 shares. In the last year, eBay's shares have traded in a range of 29.01 - 39.28. The share price has gained 28.92% 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 $36.37 is greater than its 200-day moving average of $36.33. Shares of eBay are trading at a Price to Earnings ratio of 5.46. Shares of eBay have gained roughly 4.32 percent in the past month and are up 25.97 percent year-to-date.
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On Wednesday, shares in Square, Inc. recorded a trading volume of 25,376,218 shares, which was above the three months average volume of 15,716,879 shares. The stock ended the day 4.96% lower at 36.19. The share price has gained 167.48% from its 52-week low with a 52-week trading range of 13.53 - 49.56.The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $39.08 is greater than its 200-day moving average of $29.66. Shares of Square, Inc. have fallen roughly 9.48 percent in the past month and are up 165.52 percent year-to-date.
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Our Actionable Research on eBay Inc. (NASDAQ:EBAY) and Square, Inc. (NYSE:SQ) can be downloaded free of charge at Research Driven Investing.
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