January 19, 2016: Markets opened higher on Tuesday, but drifted lower during the morning session and finally dipped below the break-even for most of the afternoon until bouncing higher in the last two hours of the day’s trading. Energy stocks led the dip, down nearly 3%, followed by basic materials, down about 2%. WTI crude oil for March delivery traded down around 2.9% today to settle at $29.50, while the February contract, which closes tomorrow, settled at $28.46, down about 3.3% for the day. Gold for February delivery traded down about 0.15% to settle at $1,089.10 for the day. Equities were headed for a higher close shortly before the closing bell as the DJIA traded up 0.46% for the day, the S&P 500 traded up 0.38%, and the Nasdaq Composite traded up 0.11%.
The DJIA stock posting the largest daily percentage gain ahead of the close Tuesday was UnitedHealth Group Inc. (NYSE: UNH) which traded up 3.03% at $112.58. The stock’s 52-week range is $95.00 to $126.21 and volume rose to about 40% above the daily average of around 4 million shares. The health insurance company reported better-than-expected earnings this morning.
McDonald’s Corp. (NYSE: MCD) traded up 1.88% at $117.35. The stock’s 52-week range is $87.50 to $120.23. Trading volume was about 10% below the daily average of around 6.6 million. The company had no specific news today.
Nike Inc. (NYSE: NKE) traded up 1.65% at $58.51. The stock’s 52-week range is $45.35 to $68.19. Trading volume was about 15% below the daily average of around 9.4 million. The company had no specific news today.
The Coca-Cola Co. (NYSE: KO) traded up 1.02% at $41.92. The stock’s 52-week range is $36.56 to $43.91. Volume was about 20% lower than the daily average of around 15 million shares traded. The company company announced a new advertising campaign today.
Of the Dow 30 stocks 19 are set to close higher today and 11 are on track to close lower.
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