January 14, 2016: Markets opened higher again on Thursday then broke lower before riding a rising tide toward the closing bell. The energy sector led the charge higher today with healthcare and telecom stocks adding a push of their own. WTI crude oil for February delivery traded up 2.4% today to settle at $31.20. Gold for February delivery traded down 1.2% to settle at $1,073.60 for the day. Equities were headed for a higher close shortly before the closing bell as the DJIA traded up 1.46% for the day, the S&P 500 traded up 1.86%, and the Nasdaq Composite traded up 2.10%.
The DJIA stock posting the largest daily percentage gain ahead of the close Thursday was Chevron Corp. (NYSE: CVX) which traded up 4.83% at $85.26. The stock’s 52-week range is $69.58 to $112.93. Trading volume was about 20% above the daily average of around 10.4 million. The company had no specific news today, but the rising tide of oil prices lifted nearly every energy company today.
Exxon Mobil Corp. (NYSE: XOM) traded up 4.36% at $78.95. The stock’s 52-week range is $66.55 to $93.45. Trading volume was about 70% above the daily average of around 15 million. The company had no specific news today, but like Chevron, rising oil prices never hurt any energy company’s stock price.
General Electric Co. (NYSE: GE) traded up 2.99% at $29.09. The stock’s 52-week range is $19.37 to $31.49. Volume was 40% below the daily average of around 93 million shares traded. The company had no specific new today, other than more follow-up on moving the corporate headquarters from Fairfield, Connecticut, to Boston.
Microsoft Corp. (NASDAQ: MSFT) traded up 2.74% at $53.06. The stock’s 52-week range is $39.72 to $56.85. Trading volume was about 10% above the daily average of around 38 million. The company said today that it plans to step up its drive to get business users to upgrade (free) to Windows 10.
Of the Dow 30 stocks 28 are set to close higher today and just 2 are on track to close lower.
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