February 24, 2015: Markets opened mixed on Tuesday as investors waited to hear what Fed chairwoman Janet Yellen had to say to the U.S. Senate. Wage growth remains weak and inflation remains low, and Yellen counseled patience. She also noted that the Fed would change its guidance before changing rates. All in all, no market moving revelations. Shortly before the closing bell the DJIA traded up 0.57% for the day, the S&P 500 traded up .0.33%, and the Nasdaq Composite traded up 0.16%.
The DJIA stock posting the largest daily percentage gain ahead of the close Tuesday was The Home Depot Inc. (NYSE: HD) which traded up 4.03% at $116.80. The stock’s 52-week range is $74.61 to $117.92, a new 52-week high set today. Trading volume was about double the daily average of around 5.4 million shares. The company beat estimates on both EPS and revenues this morning and raised its dividend. What’s not to like?
The Goldman Sachs Group Inc. (NYSE: GS) traded up 1.15% at $192.49. The stock’s 52-week range is $151.65 to $198.06. Trading volume was about 20% lower than the daily average of around 3 million shares. The bank is closing 300 branches as it seeks to rein in costs.
Intel Corp. (NASDAQ: INTC) traded up 2.04% at $34.45. The stock’s 52-week range is $24.30 to $37.90. Trading volume was about 25% below the daily average of around 29 million shares. The chipmaker had no specific news today.
Caterpillar Inc. (NYSE: CAT) traded higher by 1.29% at $84.57. The stock’s 52-week range is $78.81 to $111.46. Trading volume was about 55% below the daily average of around 6.6 million shares. The company had no specific news today.
Of the Dow 30 stocks 23 are set to close higher today and 7 are on track to close lower.
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