March 1, 2016: Markets opened higher on Tuesday even though economic news from Europe and Asia was weaker than expected. The thinking among investors and traders is that more stimulus may be in the offing. In the U.S., financials and tech led 9 of 10 sectors higher today, with only utilities showing a small loss. WTI crude oil for April delivery settled at $34.40 a barrel, up about 1.9% on the day. April gold slipped 0.3% to settle at $1,230.80 for the day. Equities were headed for a higher close shortly before the closing bell as the DJIA traded up 1.93% for the day, the S&P 500 traded up 2.17%, and the Nasdaq Composite traded up 2.60%.
The DJIA stock posting the largest daily percentage gain ahead of the close Tuesday was JPMorgan Chase & Co. (NYSE: JPM) which traded up 4.70% at $58.95. The stock’s 52-week range is $50.07 to $70.61. Volume was about 15% below the daily average of around 20.7 million shares traded. The big bank had no specific news today, but led the financial sector to gain of more than 3%.
Apple Inc. (NASDAQ: AAPL) traded up 3.83% at $100.39. The stock’s 52-week range is $92.00 to $134.54. Trading volume was about 10% below the daily average of around 49 million. Apple led the tech sector to a gain of about 2.8% Tuesday following a favorable court ruling on the company’s effort to fight a federal demand that it unlock an iPhone used in the San Bernardino, California, shooting.
E. I. du Pont de Nemours and Co. (NYSE: DD) traded up 3.46% at $62.98. The stock’s 52-week range is $47.11 to $76.59. Trading volume was about 60% below the daily average of around 6 million. The company had no specific news today.
Chevron Corp. (NYSE: CVX) traded up 2.91% at $85.87. The stock’s 52-week range is $69.58 to $112.20. Volume was about 15% below the daily average of around 12.7 million shares. The company said had no specific news today, but traded higher on higher prices for crude oil.
Of the Dow 30 stocks 28 are set to close higher today and 2 are on track to close lower.
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