February 1, 2016: Markets opened lower on Monday following on the worst manufacturing data to come out of China in more than three years. From a weak start equities perked up in the afternoon and as we approach the closing bell only the energy and financial sectors are showing a loss for the day. WTI crude oil for March settled down about 6.3% today, at $31.62, a loss of $2 a barrel from Friday’s settlement. April gold, the most active contract, traded up 1% to settle at $1,128.00 for the day, its highest settlement in nearly three months. Equities were headed for a slightly higher close shortly before the closing bell as the DJIA traded up0.13% for the day, the S&P 500 traded up 0.18%, and the Nasdaq Composite also traded up 0.35%.
The DJIA stock posting the largest daily percentage gain ahead of the close Monday was American Express Co. (NYSE: AXP) which traded up 2.60% at $54.89. The stock’s 52-week range is $52.15 to $86.18. Volume rose to about 5% above the daily average of around 7.7 million shares. The credit card issuer had no specific news today, but after a tough week today’s action could have been buying the dip.
Wal-Mart Stores Inc. (NYSE: WMT) traded up 2.06% at $67.72. The stock’s 52-week range is $56.30 to $88.00. Volume was about equal to the daily average of around 11.8 million shares traded. The world’s largest retailer had no specific news again today.
Nike Inc. (NYSE: NKE) traded up 2.17% at $63.36. The stock’s 52-week range is $45.35 to $68.19. Trading volume was about 30% below the daily average of around 9.8 million. The athletic gear maker had now specific news today.
24/7 Wall St.Verizon Communications Inc. (NYSE: VZ) traded up 1.92% at $50.93 The stock’s 52-week range is $38.06 to $51.02, and the high was posted today. Trading volume was about 60% above the daily average of around 15 million. The telecom giant continued a two-stretch of nearly unbroken daily share price gains.
Of the Dow 30 stocks 29 are set to close higher today and just 1 (Pfizer) is on track to close lower.
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