The 4 Stocks That Pushed the Blue Chips Higher

Investing

Published: November 5, 2014 4:01 pm

Last Updated: April 28, 2020 6:16 am

November 5, 2014: Markets opened higher on Wednesday following Tuesday’s election results that will install Republicans in control of both the U.S. House and Senate. The ADP report did its part as well, posting a larger than expected gain for October, raising expectations for another solid report on Friday from the U.S. Census Bureau. Shortly before the closing bell the DJIA traded up 0.55% for the day, the S&P 500 traded up 0.54%, and the Nasdaq Composite traded down 0.08%.

The Dow 30 stock posting the largest daily gain ahead of the close today was Visa Inc. (NYSE: V), the Dow’s most heavily weighted stock, which traded higher by 2.63% at $249.37. The stock’s 52-week range is $194.84 to $252.34, and the high was set today. Volume was nearly double the daily average of around 2.7 million shares. The company had no specific news today, and the financial sector gained more than 0.5% today.

E. I. du Pont de Nemours and Co. (NYSE: DD) traded higher by 1.82% at $69.76. The stock’s 52-week range is $59.35 to $72.92. Volume was about 40% below the daily average of around 2.7 million shares. Ballot measures requiring special labeling of genetically modified food were defeated in Oregon and Colorado yesterday. DuPont and Monsanto joined in the fight against the measures.

JPMorgan Chase & Co. (NYSE: JPM) traded up 1.48% at $61.14. The stock’s 52-week range is $51.58 to $61.85. Trading volume was about 20% below the daily average of around 14 million shares. The big bank took advantage of the rise in financials today as investors believe that Republican control of Congress might ease regulatory activity.

Chevron Corp. (NYSE: CVX) traded up 1.46% at $117.04. The stock’s 52-week range is $106.65 to $135.10. Volume was about 10% below the daily average of around 6.5 million shares. Crude oil staged a bit of a comeback today, rising 2.15% to trade at $78.85.

Of the Dow 30 stocks 7 are set to close lower today and 23 are on track to close higher.

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