The 4 Stocks That Ruled the Market

Investing

Published: June 2, 2014 4:01 pm

Last Updated: April 28, 2020 6:16 am

May 29, 2014: Markets opened slightly higher on Monday but sank following an erroneous report on the ISM manufacturing index that was later corrected. But the correction remained below both April’s figure and the consensus estimate, so the impact was minimal. Trading volume was low again today, continuing the May pattern. Shortly before the closing bell the DJIA traded up 0.22% for the day, the S&P 500 was up 0.10%, and the Nasdaq Composite traded down 0.12%.

Today’s big gainer among the Dow 30 was Caterpillar Inc. (NYSE: CAT) which traded at $103.91, up 1.64% in a 52-week range of $80.86 to $108.21. Share volume was about 35% lower than the daily average of nearly 5 million shares traded. The government report on new construction spending showed a gain in April, and construction equipment sales has been Cat’s only bright spot for a while now.

United Technologies Inc. (NYSE: UTX) was the second-leading gainer on the DJIA today. Shares of the conglomerate traded higher by 1.10% at $117.50 in a 52-week range of $90.30 to $120.66. The company’s aerospace business is strong and it also has some exposure to the construction business. Share volume today was around 35% lower than the daily average of about 3 million shares.

Home improvement giant The Home Depot Inc. (NYSE: HD) posted a gain of 0.88% today and traded at $80.94 in a 52-week range of $72.21 to $83.20. Volume was about 30% below the daily average of around 6.6 million shares. The company’s A+ rating at thestreet.com was reiterated this morning and again, strength in the constructio business is good for Home Depot.

Johnson & Johnson (NYSE: JNJ) had no news today but was among the stronger Dow 30 performers. Shares rose 0.77% to $102.24 in a 52-week range is $71.51 to $81.37. Volume was about 40% of the daily average of 7.7 million shares traded.

Of the Dow 30 stocks 24 looked to close higher today while 5 were on their way to a lower finish and one was set to finish dead flat.

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