March 14, 2016: Markets opened lower on Monday but the DJIA and the Nasdaq Composite were able to break into positive territory at around noon and remained above the break-even line for the rest of the day’s trading. The consumer discretionary sector was leading today’s gainers with basic materials and energy stocks holding gains down. The FOMC begins its two-day meeting on Tuesday, culminating in a Wednesday afternoon announcement that is not expected to include another rate hike. WTI crude oil for April delivery settled at $37.18 a barrel, down 2.4% on the day after OPEC reported that supply continues to outstrip demand. April gold dropped 1.1% to settle at $1,245.10 for the day, the lowest settlement since March 2nd. Equities were headed for a higher close shortly before the closing bell as the DJIA traded up 0.31% for the day, the S&P 500 traded up 0.04%, and the Nasdaq Composite traded up 0.20%.
The DJIA stock posting the largest daily percentage gain ahead of the close Monday was The Boeing Co. (NYSE: BA) which traded up 1.81% at $126.88. The stock’s 52-week range is $102.10 to $155.99. Trading volume was less than half the daily average of around 2.8 million. The aerospace giant had no specific news Monday.
McDonald’s Corp. (NYSE: MCD) traded up 1.50% at $123.38. The stock’s 52-week range is $87.50 to $124.83. Trading volume was about 40% below the daily average of around 7.3 million. The company had no specific news Monday, but along with Nike and Disney were the leading consumer discretionary stocks on the Dow.
Nike Inc. (NYSE: NKE) traded up 1.35% at $60.89. The stock’s 52-week range is $47.25 to $68.19. Volume reached nearly 60% of the daily average of about 11 million shares. The athletic gear and apparel maker also had no specific news Monday, but the NCAA March Madness tournament draw held Sunday should be the beginning of a good sales month for Nike.
24/7 Wall St.The Walt Disney Co. (NYSE: DIS) traded up 1.10% at $99.01. The stock’s 52-week range is $86.25 to $122.08. Volume was about 55% below the daily average of around 10.6 million shares traded. The entertainment giant is getting a boost on ticket sales for its ‘Zootopia’ movie.
Of the Dow 30 stocks 18 are set to close higher today and 12 are on track to close lower.
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