March 17, 2016: Markets opened slightly higher on Thursday following solid gains on Wednesday following the FOMC announcement. The Nasdaq Composite traded lower until the noon hour, but the other 2 major indexes traded higher by mid-morning and stayed strong the rest of the day. The basic materials and industrials sectors put up the biggest gain, with energy close behind Only the health care sector traded down for the day. WTI crude oil for April delivery which settled at $40.20 a barrel, up 4.5%, and the first settlement above $40 in 2016. April gold added 2.9% to settle at $1,265.00 for the day. Equities were headed for a higher close shortly before the closing bell as the DJIA traded up 1.05% for the day, the S&P 500 traded up 0.82%, and the Nasdaq Composite traded up 0.42%.
The DJIA stock posting the largest daily percentage gain ahead of the close Thursday was The Boeing Co. (NYSE: BA) which traded up 3.05% at $131.06. The stock’s 52-week range is $102.10 to $155.99. Trading volume was about 25% below the daily average of around 6 million. The aerospace company also had no specific news Thursday..
General Electric Co. (NYSE: GE) traded up 2.95% at $31.06. The stock’s 52-week range is $19.37 to $31.49. Volume reached about 90% of the daily average of around 46 million shares. The industrial giant had no specific news Thursday.
Nike Inc. (NYSE: NKE) traded up 2.28% at $63.27. The stock’s 52-week range is $47.25 to $68.19. Trading volume was about 25% below the daily average of around 11 million.The sports gear maker showed off its self-lacing shoes, a la “Back to the Future.”
Chevron Corp. (NYSE: CVX) traded up 1.90% at $97.21. The stock’s 52-week range is $69.58 to $112.20. Volume was about 30% below the daily average of around 12.3 million shares traded. The company had no specific news on Thursday, but crude oil above $40 a barrel is good news for Chevron and its DJIA peer Exxon Mobil.
Of the Dow 30 stocks 26 are set to close higher on Wednesday and 4 are on track to close lower.
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