The 4 Stocks That Propelled the DJIA Higher on Wednesday

Investing

Published: December 23, 2015 4:01 pm

Last Updated: January 13, 2020 3:45 pm

December 23, 2015: Markets opened higher for a third consecutive day on Wednesday, once again following rising prices for crude oil. The mood brightened even more following the big drawdown on U.S. oil inventories and word that the first shipment of U.S. crude will be loaded in early January for delivery to an unspecified foreign buyer. If the market indexes appear to you to be driven by energy prices, you are not alone. WTI crude for February delivery rose about 3.8% today to settle at $37.50 per barrel. Gold for February delivery traded lower by about 0.6% to settle at $1,068.20 for the day. Equities were headed for a higher close shortly before the closing bell as the DJIA traded up 1.00% for the day, the S&P 500 traded up 1.17%, and the Nasdaq Composite traded up 0.79%.

The DJIA stock posting the largest daily percentage gain ahead of the close Wedesday was Chevron Corp. (NYSE: CVX) which traded up 3.70% at $93.61. The stock’s 52-week range is $69.58 to $114.38. Trading volume was about 10% below the daily average of around 10.7 million. The supermajor oil and gas producer followed the price of crude oil higher today.

Exxon Mobil Corp. (NYSE: XOM) traded up 3.15% at $80.09. The stock’s 52-week range is $66.55 to $94.43. Volume was about 30% below the daily average of around 15.3 million shares traded. Exxon’s stock price path today strongly resembles that of Chevron, and for the same reason.

Caterpillar Inc. (NYSE: CAT) traded up 2.08% at $69.83. The stock’s 52-week range is $62.99 to $94.66. Trading volume was around 10% below the daily average of around 7 million. One of the DJIA’s worst performing stocks in 2015 has added more than 6% to its share price over the past couple of days. The change could be the rising hopes for energy prices and the demand that could generate for Cat’s machinery.

E. I. du Pont de Nemours and Company (NYSE: DD) traded up 1.97% at $65.90. The stock’s 52-week range is $47.11 to $76.59. Trading volume was about 60% below the daily average of about 7.1 million. The company had no specific news again today.

Of the Dow 30 stocks 28 are set to close higher today and 2 are on track to close lower.

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