The 4 DJIA Stocks That Boosted the Market

Investing

Published: October 24, 2014 4:01 pm

Last Updated: April 28, 2020 5:58 am

October 24, 2014: Markets opened slightly higher on Friday, and following a short trip below the break-even line, marched higher and appear headed to close up for the second consecutive day. With one exception, today’s earnings reports among large cap stocks were better than expected. Shortly before the closing bell the DJIA traded up 0.79% for the day, the S&P 500 traded up 0.72%, and the Nasdaq Composite traded up 0.68%.

The Dow 30 stock posting the largest daily gain ahead of the close today was The Procter & Gamble Co. (NYSE: PG) which traded higher by 2.52% at $85.33. The stock’s 52-week range is $75.26 to $85.97, a new 52-week high set today. Volume was about 40% higher than the daily average of around 7.4 million shares. The company beat estimates today and announced that it would hive off its Duracell business.

3M Company (NYSE: MMM) traded up 2.41% at $148.55. The stock’s 52-week range is $122.87 to $148.79, a second consecutive 52-week high. Trading volume was about 30% higher than the daily average of around 2.7 million shares. The company continues to shine after its earnings beat on Thursday morning.

Pfizer Inc. (NYSE: PFE) traded up 2.06% at $29.19. The stock’s 52-week range is $27.51 to $32.96. The drugmaker said last night that it plans to initiate a $11 billion stock buyback program to add to the $1.3 billion remaining in the current plan. Volume was about 15% below the daily average of around 25 million shares.

Verizon Communications Inc. (NYSE: VZ) traded up 1.22% at $48.81 in a 52-week range of $45.45 to $53.66. Volume was about 20% below the daily average of around 14 million shares. Verizon had no specific news today.

Of the Dow 30 stocks only 3 are set to close lower today and 27 are on track to close higher, the proportion as on Thursday.

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