January 21, 2016: Markets opened mixed on Thursday, and traded in the green for most of the day after ECB chief Mario Draghi said the bank would maintain its low interest rates for a long time. Investors ignored the crude oil inventory report this morning and sent prices higher. WTI crude oil for March settled up about 4.2% today, at $29.53. Strength in equity markets sent February gold for February trading down 0.7% to settle at $1,098.20 for the day. Equities were headed for a higher close shortly before the closing bell as the DJIA traded up 1.01% for the day, the S&P 500 traded up 0.84%, and the Nasdaq Composite traded up 0.43%.
The DJIA stock posting the largest daily percentage gain ahead of the close Thursday was Verizon Communications Inc. (NYSE: VZ) which traded up 3.87% at $46.14. The stock’s 52-week range is $38.06 to $50.86. Volume rose to about double the daily average of around 13.7 million shares. The telecoms giant posted solid, if not spectacular, earnings this morning and that seemed to be good enough for investors.
The Home Depot Inc. (NYSE: HD) traded up 3.68% at $120.74. The stock’s 52-week range is $92.17 to $135.47. Trading volume was about 30% above the daily average of around 5.7 million. The nasty weather due on the East Coast is good news for home improvement stores.
Nike Inc. (NYSE: NKE) traded up 3.09% at $60.87. The stock’s 52-week range is $45.35 to $68.19. Trading volume was about 50% above the daily average of around 9.5 million. The company had no specific news today.
Chevron Corp. (NYSE: CVX) traded up 2.80% at $81.19. The stock’s 52-week range is $69.58 to $112.93. Volume was about 280% higher than the daily average of around 11 million shares traded. Oil prices rose more than 4% today and that always cheers up traders. That and predictions that oil prices are set to break out of their slump.
Of the Dow 30 stocks 24 are set to close higher today and 6 are on track to close lower.
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